OCM ONLINE CAPITAL MARKETS PTY LTD
TERMS AND CONDITIONS
OCM Online Capital Markets Pty Ltd ACN 140 899 476, having its registered office at Level 2 19-21 Hunter St. Sydney, NSW, 2000 Australia (“Company”)
the party who accepts, and agrees to be bound by this Agreement, as provided in clause 1 (“User”, “Client” or “you”)
By completing the Company’s application form and questionnaire, and providing the necessary documents required by the questionnaire (which informs the Company about the Client’s identity and investment profile), and by clicking on the “I accept” fill box on the Company’s Website, the Client accepts and agrees to be bound unconditionally by these Terms and Conditions. It is not necessary for this Agreement to be separately signed. Upon its acceptance it has the same force and establishes the same rights, duties and responsibilities as if signed by both parties.
2. APPLICATION OF AGREEMENT
This Agreement applies to all Services provided by The Company to the Client, including, but not limited to the provision of dealing and market making services, enabling the Client to undertake Transactions and to trade in Financial Products provided by the Company; access to and information on the Company’s Website; access to and use of the Trading Platform, as well as any other services which may from time to time be made available by the Company.
This Agreement is not a purchase contract. It sets out the terms on and conditions upon which business may be transacted between the parties.
By accepting these Terms and Conditions, the Client acknowledges having been provided with access to and having seen and had the opportunity to review, take advice about and download, this Agreement, the Company’s current Product Disclosure Statement (“PDS”), and Financial Services Guide (“FSG”) and such other material as may be provided by the Company to the Client in connection with the Client’s application to establish an Account with the Company.
By entering into this Agreement, the Client acknowledges that they are not relying on any other information or representations from the Company however provided or conveyed to the Client.
In this Agreement, the following words and expressions have the meanings set out opposite them below:
Account - an account opened in respect of the Client, maintained by the Company, and recording all deposits and withdrawals, and to which all profits are credited and all losses and other fees and charges are debited.
Agreement - these Terms and Conditions, as amended from time to time (as provided in clause 17.3).
Business Day - a day on which the Trading Platform can execute trading.
Financial Product - financial products from time to time offered by the Company, including foreign exchange contracts and derivatives.
Order - an order, instruction or direction to undertake a
Services - the services referred to in clause 2.
Spread - the difference between the price or rate quoted by the Company and the sale or purchase price (as the case may be) in respect of a particular Financial Product at which the Company buys or sells the Financial Product to or from the Client.
Trading Hours - trading opens from Sunday 21:00 GMT/22:00 DST (Monday morning Sydney time) until Friday 21:00 GMT/22:00 DST (Saturday morning Sydney time), excluding specified holiday periods, as notified by the Company on its Website.
Trading Platform - the online trading facility (including information, software and hardware) made available for the purpose of providing the Services to the Client.
Transaction - the purchase or sale of, or trade in a Financial Product.
Website - the Company’s Website at isdeposit.com as well as any other website which may from time to time be designated by the Company for the purpose of this Agreement.
The Client agrees to use the Services at their own risk and acknowledges, understands and accepts that trading in Financial Products is highly speculative, risky and is suitable only for persons who are in a position to bear the loss of all of the money which they invest. The Client acknowledges the risk disclaimer which appears on the Website which is deemed to be incorporated into and to form part of this Agreement.
4.2 Scope of risks
The client acknowledges that the kinds of risks to which they are exposed are disclosed in the Company’s Product Disclosure Statement. These risks include, but are not limited to the following:
• International currency prices are highly volatile,
• Trading on foreign markets involves risks which are different to the risks usually involved in markets of the country of residence of the Client,
• The Company does not guarantee profits or the absence of losses,
• The Client may incur losses equal to the whole of their investment and losses may potentially exceed the amount of their investment.
The Client is willing and able, financially or otherwise to undertake such risks.
5. CLIENT CLASSIFICATION
5.1 The Company classifies its clients as Retail Clients.
5.2 A Client may request The Company to change their classification so that they are treated as a Wholesale Client. Upon receiving such request, The Company may undertake an assessment of the Client’s expertise sophistication and knowledge to ensure that the Client understands the risks involved and is in a position to make their own investment decisions. The Company may refuse to change the Client’s classification. A Wholesale Client loses some of the protections which are made available to Retail Clients (apart from those protections which are also provided to Wholesale Clients) under the Corporations Act.
6.1 Services provided
Subject to the Client meeting its obligations in terms of this Agreement, the Company agrees to provide the Client with:
(a) access to and the means to use the Trading Platform;
(b) market making services whereby the Company will provide bid and offer prices and rates (quotes) in respect of the Financial Products offered by the Company being derivatives, foreign exchange contracts and such other Financial Products, if any, as may from time to time be made available by the Company;
(c) dealing services, whereby the Company will transact or trade with the Client who accepts the prices or rates provided by the Company, in respect of the Financial Products made available by the Company.
6.2 Trading Platform
The Services will be provided through the Trading Platform during the Company’s Trading Hours. The Client acknowledges that the information provided through the Trading Platform or otherwise by the Company is provided for information purposes only to assist the Client in making decisions but such information does not constitute the giving of personal advice (being advice which takes into account the Client’s personal circumstances).
6.3 Trading Hours
The Company’s operating hours for placing Order and/or trading are around the clock, during Trading Hours. The operating hours may be extended at the Company’s discretion, from time to time without prior notice. At the Company’s discretion, the Trading Platform may be unavailable during holidays which may be announced from time to time through the Website.
The Client acknowledges and accepts that any Transaction by the Client, and the consequences of any such Transaction are the sole responsibility of the Client, for which the Company has no responsibility whatever.
7. ACCESS TO TRADING PLATFORM
The Company may, in its discretion, reject any application to use the Trading Platform. Without limitation, the Company does not allow people below the age of 18 to use the Trading Platform.
7.2 Access code
The company will provide the client with an access code to enable the Client to access and use the Trading Platform and to initiate trading (subject always to the Company’s discretion to grant or refuse such access). The Client may only use the access code and undertake Transactions in the manner set out in this Agreement.
7.3 Protection of access code
The Client must protect and not disclose the access code to any other person (except as permitted by clause 7.4) and keep the access code safe and avoid taking any action which may result in the unauthorised use of the access code. The Client must immediately notify the Company if it becomes aware of any improper, irregular or unauthorised use of the access code. The Client acknowledges and accepts that any orders given to the Company through the Client’s access code will be treated as Orders from the Client and will be the sole responsibility of the Client.
7.4 Third party user
The Client may only authorise another person (authorised user) to give Orders using the access code with the prior consent of the Company and upon delivery to the Company of a properly completed authorisation form, as prescribed by the Company. The Client must ensure that the authorised user maintains the confidentiality of and takes appropriate steps to protect the access code.
The Company bears no responsibility or liability for any unauthorised use of the access code including use thereof by an authorised user. The Client will be bound by any instructions which appear to be given by or on behalf of the Client including use of the access code by any other party. The Client indemnifies the Company against any losses arising from any unauthorised use of the access code.
7.6 Failure to protect
If the Client breaches the provisions of this clause 7, the Company is entitled to close the Client’s Account with immediate effect and to recover any losses which the Company may have sustained as a result of such breach.
8.1 Placing Orders
The Client may place Orders to enter into a Transaction through the Trading Platform. The Client is solely responsible for placing Orders and for any errors made in placing Orders. Unless otherwise agreed by the Company, all Orders must be given to the Company electronically using the Trading Platform. However, if the Trading Platform is unavailable due to a systems disruption, then Orders may be given by telephone. Telephone Orders may be rejected by the Company if the Client’s instructions are insufficiently clear or do not comply with any requirements of this Agreement.
8.2 Refusal of instructions
The Company may, in its discretion and without liability to the Client, refuse to accept any Orders for any reason including, but not by limitation where instructions would breach any market practice or applicable laws or where there are not sufficient funds in the Client’s Account. The Company will notify the Client if it refuses to accept any Order, but without being obliged to give reasons for doing so. The Company is not liable to the Client for any loss suffered due to Orders not being accepted, even if the Client is not aware of the refusal.
8.3 Taking effect
Orders and instructions only take effect when received by the Company and when the Company accepts the Order for processing.
8.4 Revocation and cancellation
Orders cannot be cancelled or revoked and/or amended without the Company’s consent which it may grant or refuse in its sole discretion. If an Order has been partially executed before it is cancelled or revoked, the Client is responsible for the Transaction following such partial execution.
8.5 Validity of Orders
Orders remain valid according to the type and time specified in the instruction. If no time of validity is specified then the Order remains valid for an indefinite period (and is automatically renewed at midnight each day until the Transaction is terminated by instructions to close out the Transaction or in other circumstances described in this Agreement).
8.6 Interruptions and failures
Neither party is liable to the other for any loss caused by any failure, interruption, suspension or malfunction of any electronic communication or the Trading Platform. The Client acknowledges that in accessing and using the Trading Platform delays may be experienced in dealing with instructions for which the Company is not liable. The Client remains liable for any Order placed. The Company may cancel any Transaction which has been executed at an incorrect price or rate for that Transaction as a result of a system or human error, without liability to the Client provided that the Company must notify the Client of such cancellation.
8.7 Transaction prices
Transactions are executed at the bid or ask price. The Company has the right, at its discretion to increase or decrease Spreads depending on market conditions. The Company reserves the right to offer different prices because of market volatility. The Client may accept the price or refuse it, effectively cancelling the Order. If there is a technical failure for any reason, the Company has the right to offer a different price or rate, or not to execute an Order.
The Company has the right at its discretion to increase or decrease spreads and/or leverage, control maximum order amounts and limit clients' total exposure.
8.8 Stop loss, take profit and limit Orders
The company may offer the Client Stop loss, take profit and limit Orders. These orders shall be executed at the rate or price declared by the Client but under certain market conditions, the Order might not be executed at the declared rate or price, but rather at the next best price or rate. The Client acknowledges that due to high levels of market volatility a price or rate declared by the Client may be impossible to achieve and therefore a stop loss, take profit, limit Order or other contract may be impossible to execute. In that case the Company reserves the right either not to execute the Order or to execute the Order at the next best available rate or price.
8.9 The Company has a discretionary right to close positions from the most unprofitable where the Margin is less than 5%. The Company reserves the right from time to time to increase margin requirements for all financial instruments offered by the Company prior to Company announcements or where market conditions require such increases. Clients’ open positions may be subject to forced liquidation and the client may suffer significant loss in the case of failure to fulfil such requirements on time.
8.10 The Company shall execute instruction on the earliest and in the best possible way. In the case of trading instruction the Company shall act according to its BEST EXECUTION POLICY which can be found in the Website.
8.11 The Client understands that the trading facilities provided by the platform, may be halted or suspended at any time without a prior notice due to circumstances beyond the control of the Company. In such an event, the Company, or an authorized party on its behalf, may close any open positions the Client may have (by performing a Reverse Transaction) without prior notice being sent to the client, at fair market value reflecting, as closely as possible, the applicable markets’ exchange rates. The Client hereby waive any claims of indemnification, suits and causes of action against the Company in such event and acknowledge that such waiver is a pre-condition to the validity of this Agreement.
8.12 The Company reserves the right, provided a prior notice to this effect has been sent to the Client, to cancel any Transaction that due to a System and/or human error, whether under the control of the Company or not, has been executed at an exchange rate which at the time of the Transaction was not the indicative and/or accurate rate of exchange for that said transaction.
8.13 The Client hereby understands and accepts that upon the receipt of any Order and/or message by the Company via the platform the Company will not be held responsible for any delay or error caused during the transmission of such Order and/or message. The Company shall also not be held responsible for any damage caused as a result of such delay or error or for, the non validity of securities or, for mistakes in the Client’s bank account balances.
8.14 The Client further understands and accepts that the Company is entitled to refuse to execute any instructions given either by the Client or by any person authorized by the Client if, in the reasonable opinion of the Company, the execution of such instructions:
(i) would probably result in violation of the standard market practice of the Financial Instruments; or,
(ii) would constitute a violation of the effective legislation of the respective territory, including, but not limited to, legislation on counteraction to laundering of criminal incomes and insider operations; or,
(iii) would affect or may affect the reliability or operation of the Platform; or,
(iv) would place in any manner the economic position of the Client and/or the Company in jeopardy; or,
(v) there are no sufficient funds in the Client Account for withdrawal or to satisfy the requirement of opening a new position together with any related charges. It is noted, that when calculating the amount of the cleared funds, the Company will consider all Client’s obligations including, but not limited to, obligations on unexecuted but previous registered orders that are deductible from the Client Account. The Company is not obliged to give reasons or notice as to the reasons for suspending, declining or cancelling Client’s instructions. Additionally, in the event that the Company does decide to suspend or cancel an instruction, such will not affect any obligations owed by the Client to the Company or any right of the Company against the Client or his/her assets.
8.15 Any transaction shall be considered conclusive unless the Client within 2(two) days from the conclusion of a transaction, contacts the Company either by e-mail or facsimile stating his/her objection as to the execution or, non-execution of his/her Order or, the manner in which his Order was executed.
8.16 In the case where the Client represents more than one person (for example, if these are joint account holders) then :
(i) the liabilities of each such person shall be direct, joint and several;
(ii) the Company may act upon any instructions received from any person being (or considered to be the same by the Company) the aforesaid person, regardless of the fact, whether such person is the Authorized Person;
(iii) any notice and other message presented by the Company to one of such persons is deemed to be presented to all said persons; and
(iv) the rights of the Company in the context of section 10 (ten) shall be in force if the event mentioned in the said section is considered to take place with respect to any such persons
8.17 A daily overnight Premium may apply to each CFD open position at the closing of the Company’s trading day as regard to that CFD. If such overnight Premium is applicable, it will either credited or debited by the clients account, depending of the nature of the position Customer holds. The amount of the overnight Premium can be found in the commissions and charges list. The commission and Charges list may vary from time to time
8.18 Financial instruments that have an expiration date, if are not closed prior to the expiration date, then the Company will forcibly close them at the last available price
8.19 Where the Company acknowledges and investigates the Client’s deliberate and/or systematic attempts to use prices that do not reflect market prices due to an undetected programming error, bug, defect or glitch in our Web site software or any other reason resulting in mispricing. (generally known by the name of scalping, sniping and arbitrage), the Company is entitled to take all or any of the following countermeasures:
(i) to correct the price spread provided to the Client;
(ii) to limit the access of the Client to any continuous, instantaneously usable quotations, and start providing quotations on request only;
(iii) to warn the client that this is not permissible;
(iv) to execute the withdrawal of the client’s deposit;
(v) to stop immediately any relations with the Client by sending a written notice.
8.20 Joint accounts
If the Client represents more than one person (for example joint account holders) than:
(a) the parties representing the Client are liable jointly and severally;
(b) the Company may act upon the instructions of any of those persons;
(c) any notice by the Company to any of those persons constitutes notice to all of them; and
(d) any default by any of those persons constitutes a default by all of them.
9. SETTLEMENT AND CONFIRMATION
The Company will provide confirmation following execution of each Transaction. Confirmations are deemed to be conclusive and binding on the Client if no objection is made in writing to the Company specifying details of the objection within one Business Day after the confirmation is posted on the Trading Platform or is otherwise notified to the Client.
The Client will receive notification by email and pop-up message on the Trading Platform whenever Transactions are executed including the closing of a Transaction, the amendment of a stop loss, take profit or limit Order or the deposit or withdrawal of funds.
9.3 Method of providing information
All confirmations are provided by the Trading Platform save that in the case of a system failure, the confirmation will be sent to the Client. Details of Account activity will be posted online and the Client will be able to generate reports of account activity as well as a report of each Transaction. Updated Account information will be available within 24 hours after each activity takes place (subject to any technical failures). The posting of Account information on the Trading Platform will be deemed to be effective delivery to the Client of the information posted.
9.4 Monthly accounts
A statement of account will be presented to the Client through the Trading Platform on a monthly basis, within five Business Days from the end of each month.
10. CLIENT ACCOUNT AND MONEY
The Company is not required to accept or execute any Order until the Client has deposited the required amount of initial margin into the Client’s Account, as notified by the Company from time to time. Unless otherwise agreed, all funds must be deposited to the Client Account in US dollars. Payment to the Client’s Account must be made by electronic transmission or by such other means as the Company agrees.
10.2 Trust money
Money deposited to the Client’s Account will be held by the Company in a trust account with a bank in accordance with the requirements of the Corporations Act. Withdrawals from the trust account by the Company may only be made in accordance with the Corporations Act. The Client acknowledges that holding such money in a trust account does not necessarily protect the Client’s money from risk of loss. Such money is commingled with the money of other clients of the Company.
10.3 Use of funds
The Company shall have authority to make deposits to and withdrawals from the Client’s Account for the purpose of settling Transactions and/or executing client instructions and/or to pay outstanding amounts that the Client may owe to the Company. Without limitation, the Company may deduct any amount which the Client owes to the Company as well as any fees, costs, withholding taxes or charges incurred by the Company in respect of any Transaction. The Client irrevocably authorises the Company to apply any moneys held in the Client Account to pay any amount which the Client may owe to the Company, and to cover any current Transactions before any moneys are allocated to requests to enter into further Transactions. The Company shall have a lien over the moneys in the Client’s Account and may without the consent of the Client set-off any amounts owed by the Client to the Company.
10.4 Receipt of funds
Only cleared funds which have been identified by the Company as paid by or for the Client will be recognized for the purpose of determining the Client’s Account balance. The Client is responsible to clearly identify all moneys paid to the Client’s Account as being paid by or for the benefit of the Client. Fund transfers or deposits from other institutions may take a number of days before they are cleared so they can be identified as funds credited to the Client’s Account. Until then they will not be taken into account in calculating the balance standing to the credit of the Client’s Account.
10.5 Currency and expenses
If payment is made other than in Australian dollars, the cost of conversion is for the account of the Client and only the net amount converted into the Client’s account base currency will be credited to the Client account with the Company. Any such credit will be net of any charges or fees charged by any bank or any other intermediary involved in the payment or conversion process.
The Company will only accept instructions to transfer funds from a Client’s Account to another account which is in the name of that Client. The name of the recipient account must correspond with the name of the account from which funds are to be transferred.
10.7 Suspension or cancellation of transfer instructions
The Company may suspend or cancel instructions for transferring funds if the Company considers it necessary or appropriate to do so including, without limitation if the Company has reasonable grounds for suspecting that the instructions to transfer funds were not ordered by an authorised person or if the proposed transfer violates any applicable laws or regulations.
The amount available for withdrawal will be calculated after allowing sufficient funds to meet any open positions. Unrealized profits as well as funds credited within less than three Business Days prior to a withdrawal request, are not available for withdrawal. Bonuses credited to the Client’s account are available to withdrawal only after the client fully meets the relevant promotion terms and conditions (also in the aspect of volume and compliance manners). The Company may, from time to time, determine minimum withdrawal amounts and may disregard withdrawal requests for less than such minimum.
Any interest which may from time to time be credited to a Client Account is solely for the benefit of the Company and the Client waives and abandons any right which the Client may otherwise have to any such interest.
The Company may in its sole and absolute discretion grant benefits to Clients by depositing pending bonus amounts to their Client Account, subject to such terms and conditions as the Company may specify. Any such bonuses may only be used for the purposes for which they are credited to the Client’s Account. Also the bonus must be redeemed within the exact timeframe indicated via the relevant promotion.
10.11 Dormant Account
In case of absence of any trading activity within three months of the Client’s account, the Company reserves the right to charge a monthly payment of up to 10 US dollars for each following month in order to maintain the account assuming that the Client Account has the available funds. If the Client’s account is funded by less than 10 US dollars and has been inactive for a period of three months, the Company reserves the right to charge a lower amount to cover administrative expenses and close down the account.
10.12 Dormant account with a zero free balance will be closed.
10.13 Currency fluctuations
If the Client enters into a Transaction:
(a) any loss arising from exchange rate fluctuations is for the risk of the Client;
(b) the Client authorises the Company to convert funds in the Client’s account into and from the relevant currency at a rate of exchange determined by the Company (having regard to prevailing market rates). The Company will not be liable for any loss which the Client may suffer as a result of any currency conversion.
(a) The Company does not collect Tax for any authority in any form or manner unless required by law in which event the Company is authorised to deduct from any monies in the Client’s account or held by the Company for the Client to pay any taxes as requested by the appropriate revenue or other authority.
(b) Without limiting the foregoing, it is the Client’s obligation alone to calculate and pay all taxes applicable to the Client in the Client’s country of residence or otherwise as a result of the Client’s trading activity using the services of the Company.
11.1 Exclusion of liability
The Company shall not be liable for:
(a) any loss suffered or incurred by the Client including, but not limited to any decrease in the value of any investment, any consequential or other indirect losses, expenses, costs or liabilities regardless of how any such loss may be incurred, including, but not limited to losses or damages incurred or suffered arising out of:
(i) any inaccuracy, error or delay in or omission of any information provided to the Client;
(ii) any delays or failures or inaccuracies in the Trading Platform, the transmission of Orders or any other communications;
(iii) any misinterpretation of the Client’s instructions;
(iv) any delay, default, failure in or loss of access to the Trading Platform;
(b) any loss suffered or incurred by the Client as a result of any act or omission of the Company;
(c) any act or omission by any other person giving instructions to the Company;
(d) any event of force majeure;
(e) any delay in the dissemination of information or quotes or the processing of Orders.
The Client indemnifies the Company against any loss or damage:
(a) that may be suffered by the Company arising out of or in connection with the Client’s use of the Trading Platform or the Company having acted upon any instructions from the Client or purporting to be from the Client; or
(b) which the Company suffers as a result of any breach of this Agreement by the Client.
The Client acknowledges and accepts that any information communicated by the Company, including (but not limited to) signals or trading trends, does not constitute an offer to buy or to sell, a recommendation, a strategy or otherwise and that such information is presented by the Company from sources believed by the Company to be reliable, and for information purposes only. The Client acknowledges that such information may be incomplete or inaccurate and that the Company does not make any warranty representation or guarantee as to, and shall not be responsible for, the accuracy or completion of any such information which may be made available or provided to the Client.
The Company holds professional indemnity insurance in accordance with the requirements of the Corporations Act. That insurance takes into account the nature and volume of the Company’s business and its clients.
Internet, connectivity delays, and price feed errors may create a situation where the quoted prices displayed on the Trading Platform do not accurately reflect market rates. Arbitrage, or taking advantage of these circumstances, is not permitted on the Trading Platform. If the Company determines that Transactions individually or together reasonably appears to rely on arbitrage opportunities, the Company may revoke those Transactions without liability to the Client. The Company may make corrections or adjustments to the Client’s Account for this purpose. Any dispute arising from any apparent arbitraging will be resolved by the Company in its sole and absolute discretion.
11.6 Changes in market conditions
The Company has no obligation to contact the Client to advise upon appropriate action in light of changes in underlying market conditions or otherwise. The Financial Products offered by the Company are highly speculative and can be volatile. The Client is solely responsible for monitoring its positions and ensuring that any further instructions are given on a timely basis. The Company has no liability for loss alleged to be suffered as a result of any failure by the Client to do so.
Scalping is prohibited. Scalping occurs where a person opens and subsequently closes a Transaction within a 2 minute timeframe. Any Transaction made which the Company, in its absolute discretion, determines to be in contravention of this prohibition may be revoked by the Company at its sole discretion.
11.8 Critical news releases
The Company may determine in its absolute discretion, for a period before and after a critical news release to not quote prices on the Trading Platform which means the Client will not be able to enter into Transactions in that period. The Company will determine in its absolute discretion what the Company deems to be a critical news release. The Company will make reasonable efforts to notify the Client, via the Trading Platform, of upcoming critical news releases.
12. CHARGES, FEES AND EXPENSES
12.1 Any fees, charges or the like which may from time to time be charged by the Company will be disclosed on the Website and published in the current version of the Company’s PDS.
12.2 Such fees shall be payable by the Client to the Company upon request and may be deducted from the Client Account as referred to in clause 10.3.
12.3 The Company has the right to amend, add to or change any of its fees, charges and the like, from time to time.
12.4 If a new account is inactive, an Inactive Account Fee of up to 10 US dollars will be assessed.
(i) A new account is defined as an account that has not had any orders completed.
(ii) An account is considered inactive if no trading activity has occurred for a period of 90 days.
(iii) The Inactive account fee is assessed monthly until the account is reactivated or remitted to the appropriate state as unclaimed property.
(iv) If there are insufficient funds in the account for this purpose, The Company reserves the right to charge a lower administrative fee and/or to close the account.
All personal data of the Client will be treated as confidential and dealt with according to the privacy and other applicable laws and will not be disclosed, except as permitted by law or by the terms of this Agreement. Without limitation, the Company may disclose information to comply with any obligation which the Company may have under any law of regulation.
The Website, Software (including the platform) and Documentation contain material that is protected by international copyright, trade secrets and trademark laws, and by applicable international treaty provisions. All rights not granted to the Client herein are expressly reserved by the Company, or its applicable licensors, suppliers or partners. The Client is not allowed to remove any proprietary notice of the Company from any copy of the Software or Documentation.
The Client agrees that the Company may process information held about the Client and use such information to administer and operate the Client’s Account, to provide the Services to the Client and to access any credit limits or credit decisions applicable to the Client. Such information may also be used to inform the Client about available products and Services offered by the Company, and for training purposes.
13.4 Credit Standing
The Client authorises the Company (or agents acting on behalf of the Company) to investigate the Client’s credit standing and for that purpose to contact banks and others to verify any relevant information. On reasonable notice to the Company, the Client will be permitted to view any records maintained by the Company relating to the Client’s credit standing, and to copy any such records at the Client’s own expense.
The Company may record any telephone or other conversations or communications with the Client and any such recordings may be used in evidence in the case of any dispute arising in relation to any Transactions or other matters relating to this Agreement.
The Client consents and agrees to:
(a) any direct advertising through cold calling, by telephone, personal representation or otherwise from the Company; and
(b) agrees to be notified separately in writing if the Company pays any commission or fees to any person who introduces the Client or who acts on behalf of the Client.
13.7 Operation Hours
The Company’s operation hours for placing orders and/or for trading CFDs is round the clock, 22:00 GMT (21:00 DST) Sunday through 22:00 GMT (21:00 DST) Friday. For other financial instruments please refer to our website and the platform for additional information. The operation hours can be extended (also due to market movements) from time to time without prior notice. Holidays will be announced through the Website.
14. CLIENT REPRESENTATIONS AND CONSENTS
14.1 The Client represents and warrants to the Company that:
(a) in the case of an individual, the Client is over eighteen years of age;
(b) all information and documentation supplied by the Client to the Company including information in response to the Company’s application form and questionnaire is true and correct in all respects and is not misleading, and the Client will inform the Company without delay of any changes to the details of any such information which may occur from time to time;
(c) the Client is not a resident of countries which may be specified as “restricted countries” on the Website;
(d) the Client has read and understood all information provided by the Company on the Website and in the Company’s FSG and PDS;
(e) the Client has read and fully understood and agreed to all of the terms and conditions of this Agreement;
(f) if the Client is a corporation it is duly incorporated and validly existing under the laws of the country if its incorporation;
(g) if the Client is a trustee, the trust deed empowers and authorises dealings in the Financial Products contemplated by the this Agreement and all such dealings are within the authorised ambit of the trust’s investment strategy;
(h) no person other than the Client has or will have an interest in the Client’s Account or any of the Transactions;
(i) the Client has carefully considered its objectives and financial position and has formed the opinion that dealing in the Financial Products offered by the Company is suitable for the Client’s needs and purposes, and that the Client is aware of the risks involved in undertaking Transactions; and
(j) the Client will not delete of breach any copyright notices or other indications of protected intellectual property which appear on the Website or on any other documents or material from time to time issued by the Company.
15.1 Third parties
The Company may engage or use the services of properly qualified third parties to undertake any Transaction or to implement and carry out any Orders and the like.
15.2 Conflicts of interest
The Company shall adopt any conflicts of interest policy which appears on its Website from time to time to resolve conflicts of interests which may arise between the Company and others.
The Company may instruct and/or appoint a counterparty to give effect to any Client instructions or Orders. The Company shall not be responsible for any errors, omissions or the like by such counterparties.
The Client may not assign or transfer any rights or obligations arising from or in connection with this Agreement to any third party without the prior consent of the Company. However the Company reserves the right to assign or transfer to any party, any of its rights or obligations arising from this Agreement.
16.1 Duration of Agreement
This Agreement continues indefinitely until terminated as provided in this clause.
Either party may terminate this Agreement by properly notifying the other party.
Such termination does not affect any accrued rights or any existing commitments or obligations. Without limitation, the Client shall pay any expenses incurred or which may be incurred by the Company as a result of the termination; any outstanding fees or other amounts payable to the Company; and any damages which may be incurred by the Company as a result of such termination.
16.4 Events of default
Each of the following constitutes an event of default:
(a) if the Client commits a breach of any obligation under this Agreement including any Transaction and fails to remedy such breach within three days;
(b) if any representation or warranty made by the Client was or has become false, misleading or incorrect;
(c) if the Client dies or becomes of unsound mind or otherwise loses capacity to undertake Transactions;
(d) if the Client becomes insolvent, bankrupt or unable to pay any of its debts as and when they fall due or goes into liquidation, bankruptcy, insolvency or the like or enters into an arrangement or composition with its creditors or if a trustee, receiver, liquidator, administrator, custodian or other similar official is appointed to the Client or to any of the assets of the Client;
(e) if any of the Client’s assets are seized or attached by any third party;
(f) if the Client involves the Company, directly or indirectly in any act of fraud or the like; or
(g) such termination is required by any competent authority or body;
16.5 Termination on event of default
The Company has the right to terminate this Agreement immediately upon the occurrence of an event of default, without prejudice to any rights which the Company may have against the Client including the right to recover all and any damages which may be suffered by the Company.
16.6 Outstanding Transaction
Notwithstanding termination the parties undertake to complete all Transactions which may already have been entered into and the terms of any such Transactions continue to bind the parties including the right of the Company to deduct all and any amounts which may become due or payable arising from or in connection with any such Transactions. However, if an event of default occurs the Company has the right at its discretion to reverse any Transactions which have been entered into by the Client in the Company’s sole and absolute discretion.
17. THE AGREEMENT
17.1 Entire Agreement
This Agreement is the entire agreement between the parties and supersedes any prior representations, negotiations, obligations or information related to the provision of the Services.
No failure by the Company to insist upon strict compliance with any provision of this Agreement will constitute or be treated as a waiver of any of the Company’s rights or remedies and will not preclude the Company from exercising any such rights on any subsequent occasion.
This Agreement may be amended in accordance with the following provisions:
(a) the Company may amend this Agreement if it becomes necessary to comply with or as a result of any amendment to any applicable laws or regulations or the direction of any lawful authority, in which case the Company shall notify the Client of the amendment either in writing or through the Website and the Client’s consent shall not be required for any such amendment, which shall take effect immediately upon such notification being given or posted;
(b) in any other case, the Company may notify the Client of a proposed amendment either by written notice to the Client or by posting it on the Website. In that event:
(i) if the Client does not object to the amendment within fifteen days from the notification of the amendment then at the expiry of the fifteen day period the Client will be deemed to have consented to and have accepted the amendment;
(ii) if the Client objects by written notice to the Company to the amendment within that fifteen day period then this Agreement shall terminate at the end of the fifteen day period subject to the completion of any outstanding Transactions in the same manner as is provided in clause 16 above.
18.1 Giving of notice
All reports, confirmations, statements, notices and other communications may be transmitted to the Client by email or by post, to such address (electronic or otherwise) as the Client may from time to time notify to the Company, or by posting them to the Client’s online Account which may be accessed by the Client on the Trading Platform. All such communications are deemed to be received by the Client at the time of communications or, if posted, then within two Business Days of being posted by mail, as the case may be.
18.2 Notices to the Company
Notice may be given to the Company at the Company’s address set out in this Agreement or at any other address notified for that purpose by the Company in any current PDS. The Company may from time to time change its address or method of communication of notices to the Company.
19. COMPLAINTS AND COMPENSATION
The Client may direct any complaints to the Company’s Compliance Officer who will be required to investigate the nature of any such complaint and to attempt to resolve it.
19.2 Dispute resolution
If any such complaint cannot be resolved internally, the Client has the right to lodge a complaint with the Financial Ombudsman Service Limited, an approved external dispute resolution scheme, of which the Company is a member.
20. GOVERNING LAW AND JURISDICTION
This Agreement is governed by the laws in force in Western Australia, Australia and the Client agrees to submit to the non-exclusive jurisdiction of the courts of Perth, Western Australia.
21. CLIENT DECLARATION
The Client declares that:
i. S/He is over 18 and to the best of his knowledge and belief, the information provided in Personal Questionnaire, and any other documentation supplied in connection with the application form, is correct, complete and not misleading and he will inform the Company of any changes to the details or information entered in the Personal Questionnaire.
ii. S/He is complying with the restrictions / policies, stipulated in the Company’s Website,
iii. S/He has read and went through all information provided on the internet regarding the Company, its services offered, relevant fees and costs, risk disclosure, client categorization, investor compensation fund, conflict of interests policy, best execution policy and has found all relevant information up to standards.
iv. S/He has carefully read and fully understood the entire text of the above terms and conditions Agreement with which s/he fully and unreservedly agrees;
v. S/He consents and agrees to direct advertising through cold calling, either by phone or personal representation, facsimile, automatic calls, email or other phone, electronic or digital means by the Company.
vi. S/He accepts to be notified with regard to the financial instruments that have an expiration date via the platform/ email / or any other method the Company may find fit. Further s/he accepts full responsibility to be informed and updated at all times.
vii. S/He has chosen the investment amount, taking his total financial circumstances into consideration which he considers reasonable under such circumstances.
viii. The Client accepts full and sole responsibility of his account’s activity; any communication between the Client and the Company’s representatives, any market reviews, fundamental and technical analysis provided are only for informative purposes and no liability can fall under the Company.
ix. The Client acknowledges that the Company reserves the right to cancel any transaction and any financial contract which is acquired or sold at prices that do not reflect its market prices or at an abnormally low level of risk, due to an undetected Programming error, bug, defect or glitch in our Web site software or any other reason resulting in mispricing. The Client has a duty to report to the Company any inadequacies the Client may experience.
x. The Client agrees to follow the complaint procedure provided by the Company and if the Company has failed to satisfy the Client s/he may proceed with legal proceedings.
Made today ………………………….., of year ……………..
THE COMPANY THE CLIENT