This agreement was organized and edited between the *** Company (hereinafter referred to as the company or the first party, or anything that states the speaker), and the customer who filled out the account opening request form and considered as the company’s client and whose request was accepted by the company (and will be referred to in this contract as the customer or you or the second party, or anything that states the addressee).
This agreement in addition to the other legal papers, including any appendices or amendments thereto, specifies the terms and conditions related to the service provided by the company to the client, it also regulates and governs the relationship between the two parties. As soon as the client submits the account opening request, he acknowledges that he has read these terms and conditions and agrees to them.
Our company …, located in * / * / *******, obtained the licenses required to carry out dealing in securities and private deals as per the rules, through ****company, and under license number ****.
Infinity Company obtained the required licenses to carry out dealing in securities and related transactions according to the rules and the law. The company prepared this document with any amendments to be read, in addition to the rest of the legal documents issued by the company, for regulatory purposes. This document will be the reliable basis for organizing the relationship between the company and the customer to indicate the obligations of both parties to their rights, including any deals concluded in particular.
It is the duty of the customer to review this document and acknowledge that he has read it and understood all of what is stated in it, and that he would keep informed on any amendments to it whether they are published on the company’s website or communicated to the customer in any way. The client also acknowledges that he has seen all other legal documents related to the company’s activity before registering on the company’s website or concluding any deals through the company.
- The approved language for the official document is the Arabic language; and any translation of it is nothing more than explanatory for information purposes only, and the document written in Arabic is the reference for resolving any dispute.
- In case there are employees in the company who are fluent in the customer’s mother tongue, this does not mean in any way the necessity to change the language of written communication, as the main written language of communication is Arabic and the company has the right to address in any other language. And for the above purposes, the definitions will be organized according to the following principles:
Client: Every natural or legal person who deals with the company in the field of trading.
The Infinityecn Company.
Agreement:This initiative agreement in addition to the legal documents on the company’s website and any amendments that occur to it, whether or not they were notified to the customer as long as they are on the platform or the company’s website.
Agent:Any person authorized by the client to act in his place or to represent him in concluding deals with the company.
Associated Company:Any entity or company that is subject to the control of a company, whether this compliance is direct or indirect.
Working days:All days of the week except on Friday and Saturday and any official holidays decided by the state of the company’s headquarters.
Account credentials:the password and username accepted by the company as distinctive signs for each client to enable him to access and use the trading platforms through the company’s website.
Main currency:the first currency in the currency pair the client uses in deals of buying or selling of the quote currency in a foreign exchange contract.
Financial Institutions:Banks, banking institutions, business enterprises and intermediary institutions licensed to deal in financial transactions.
Dealing with securities:means dealing with any person or offering him to enter into deals to obtain securities or subscribe to them, or deposit funds with any association or institution licensed to do so, or any agreement aimed at providing a profit to one of the parties resulting from the reduction in the value of the securities.
Financial data:market data, quotes, charts and information available through the trading platforms.
Financial Intelligence Unit (FIU):The unit established according to the provisions of anti-money laundering laws and regulations.
Currency pair:The underlying asset consisting of two currencies and showing the amount of the quote currency required to purchase one unit of the base currency.
Foreign Currency Contract:A contract for difference whose primary origin is a currency pair.
Intellectual property rights:any rights aimed at protecting creative ideas as defined by the laws and regulations of intellectual property organizations.
Initial Margin: The minimum amount of money required in the client’s account in order to open a trading transaction.
Maintenance margin: The minimum amount of money required in the client’s account in order to keep the transaction open and negotiable.
Market Order: the order that was filled at the best price available in the market according to the company’s vision.
Open position:the contract that has not been closed.
Pricing: the current value or price of a particular underlying asset according to the trading platforms.
Order: Instructions received by the client for trading.
Quotation currency:The second currency in a currency pair that a customer buys or sells for the base currency.
Point:it indicates the price movements up or down of stocks and it always equals one percentage point. It means in the listed basic CFD transactions, four decimal points per cent of a percentage point two decimal points meaning one percentage point.
Services:any services the company provides to the client, including any access to make deals.
Execution spreads: The difference between the expected or desired price of the transaction and the price at which the transaction is executed in the market.
Speculation:the situation in which the client opens a large number of positions in contracts for the difference and closes them in a period of less than 5 minutes, or by buying at the bid price and selling at the asking price.
Position:the position of the client in relation to any currencies or contracts opened in the client’s trading account.
Customer data:It is the data requested by the company’s website in order to complete the customer registration process.
Margin:the difference between the bid and ask for an underlying asset in foreign currencies and CFDs at the same moment.
Trading account:the client’s account consisting of all the client’s open positions, orders and balance.
Trading platform:programs, databases, technical facilities and equipment for trading and contracting purposes.
Swap:The interest added or deducted to keep an open position overnight.
Trailing Stop:a stop-loss order at a percentage level below the market price in long positions.
Trading Hours:The hours during which deals are concluded and assets are traded, as determined by the trading platform.
General Conditions for Trading:
– The trading platform is personal and it may not be used by third parties except under an authorization approved by the company and on the responsibility of the customer and in his name. Whereas, accepting the customer with the company means giving him a revocable personal license for his personal use only without the right to assign it, sell it, transfer it or transfer part of it to others.
– Client duties:
- The customer must provide suitable computers and communication devices for the purposes of trading and concluding deals, and he have to maintain them in the operational state, including the provision of electricity sources, sources of connection to the Internet and other things, and to keep these devices safe from any security violations or breakdowns.
- The client is responsible for understanding the mechanics of trading and being able to deal in financial transactions.
- The client must maintain the trading platform and the personality of this platform, as it is forbidden for him to dispose of it to others, whether in whole or in part, and he is prohibited from transferring any part of it to others.
- The customer understands that the company does not give him a guarantee or insurance for profit or non-loss, since the company’s commitment is related to providing and facilitating trading service for the client.
- It is forbidden for the client to use the trading platforms in bad faith or to use them to achieve any criminal act, nor to use them for any purpose other than the purpose for which they are created.
- The account credentials, including the password, are the data of the customer that he is responsible for protecting, and he may not share them with others.
- It is forbidden for the client to disrupt the programs designated for trading, and he is also forbidden to carry out trading that includes placing orders to stop buying or selling before issuing the financial statements. He is also prohibited from buying fabricated speculations, manipulating prices, catching the benefits of trading or bad use with the advantage of the available trade-off feature on the platform. He is also prohibited from using artificial intelligence analysis programs without prior permission from the company.
- The client is prohibited from uploading or downloading files protected by patents and intellectual property rights without a written permission from the company’s website.
- The customer is prohibited from using any programs whose purpose is to monitor, cancel, destroy or intercept any incoming communication to the platform.
- The client is warned, in whatever form, to use any viruses or any kind of hacking against the company’s trading platform or communication systems.
- The customer is warned to do any act that affects the integrity of the company’s systems or computers.
- The client is prohibited from illegal logging in to the trading platforms or fraudulent by entering from a site that violates the agreed data sent to the company.
- The customer is warned to send a large group of requests to the company’s servers in order to delay the execution of the orders.
- The client is warned against any attempt to unauthorized access to the company’s systems or any part of the trading platforms.
- The client is warned to do any action that may lead to the inability of other users to access the platform.
- The customer is warned to transfer any materials that violate the law, provoke strife, or violate morals of any kind.
- The client is cautioned against downloading or copying the trading platform.
In case that the client does any of the foregoing prohibitions or if there are reasonable reasons for the company to believe that he has done so, then the company has the right to take countermeasures that may lead to canceling the customer’s account as decided by the company.
In addition to refraining from doing the foregoing prohibitions, the company’s client undertakes to do the following:
- Use the login information to the trading platform personally.
- Correctly record all the personal and basic data without intentional error, alteration, distortion or lack of reliability of the data and evidences.
- Providing the company with the necessary data when he is asked for additional data at any stage.
- Inform the company of any changes that occur to his financial or personal data.
- Update his information when necessary.
- Use his account on the platform in a safe way and for the specific purpose.
- The client authorizes the company to perform verification of the client’s financial and credit status at any stage and at any time.
- The customer authorizes the company to freeze the account if there are serious reasons that invite the company to believe in the existence of illegal activity, and the customer is directly obligated to amend the account credentials immediately the moment he is notified by the company, through any method, about the existence of a security breach for his account.
- It is the client’s responsibility to inform the company immediately for any breach of his account or if this account is exposed to danger in any way.
If the customer does not meet the requirements for account care, or the data is not completed or not updated as desired by the company, it may return any funds deposited to their source and close the customer’s account and/or terminate his relationship with the company.
The Mechanism of Listing Account and Confidentiality
After the client has entered his basic data and completed the account opening transaction, and upon his acceptance as an approved customer by the company and opening an account under his name, he will be able to raise orders on the company’s trading platform on the various trading accounts that are permitted by the client’s financial budget and margin.
The client is responsible for the confidentiality of his data and it is not allowed to be shared with anyone, and he is obligated to write the login name and password when entering the trading platform.
The customer agrees for the company to freeze or cancel the account if the company has information from a reliable source that the client’s account is hacked.
The client is obligated to defend the company and/or indemnify it and/or absolve it from any claim, prosecution or loss resulting from the former’s misuse of the trading platform.
The client acknowledges the company’s right to change or add to the services provided that are required by the agreement after notifying him of that in accordance with the provisions of this agreement.
Services Provided by the Company:
- The company provides securities and financial instruments transactions in accordance with the terms and conditions contained in this agreement and other legal documents mentioned on the company’s website, and the amendments that occur to it. In particular, the company facilitates the client’s access to the trading platforms, technical analysis facilities, and information service providers of the company and/or other persons in order to access trading platforms and conduct transactions related to securities and financial instruments.
- It also aims to provide access to internet services and special computer software to establish contacts with the company or any of the approved service providers to access information in trading that interest the customer, including price offers.
Intellectual Property Rights:
- All data, offers and provisions of the agreements mentioned on the company’s website and trading platform belongs to the company, and the customer acknowledges accordingly that he will not download, copy, record, translate or quote the content or any part of the website or platform, especially with regard to trademarks. He also acknowledges that he will not attempt to derive the sources’ symbols of the trading platform or disassemble them. It also pledges not to harm or prejudice any of the intellectual property rights of the company.
- The customer does not dispute the company’s ownership of the trading platform, any trademarks contained in it, and any intellectual property rights or fame thereof, and for that, the customer agrees not to allow the creation of any financial statements or transactions with the aim of conducting fraudulent or illegal activities.
- He is not allowed to rent or share time or allow a third party to use the platform through his own account.
- He is also prohibited from trying to bypass the technical limitations of the platform or influence any functions that are disabled in the platform using any method.
The client understands that the company’s duty is limited to presenting and facilitating trading and conclusion of deals for the client in addition to other services that will be agreed upon later between the company and the client, and that the approved method for this agreement is writing.
- The company is not obligated to monitor, check, or review client investments.
- The customer understands that the company will not provide any advice related to the deals that are concluded through the platform. And that the company’s implementation of any sale, purchase, offer or otherwise, whatever it is, does not constitute a recommendation from the company to do this transaction, nor does any information or communication from the company constitute advice or obligation to the client to perform it.
- The client acknowledges that he has the ability to conduct deals and recommendations and also has the ability to evaluate any deal or offer according to his conditions. He also approves his ability to estimate the fit of this deal or offer with his aspirations and hopes to profit from it.
- It is agreed that the company will not grant a credit deal or make a recommendation to the client in relation to the deals unless otherwise agreed in writing.
- The company does not have the advisor status for the client, and accordingly, it will not bear any burden to provide him with any tax, legal or commercial advice of any kind.
- Although the company provides the customer with information, news, market data or analyzes from time to time, this is not considered a periodic obligation on its part. Note that the company will not be responsible for the accuracy or completeness of this information, as the purpose of this information is to help the customer in making his decisions and does not constitute any commitment or advice from the company. The company does not guarantee that this information will reach the rest of the customers or the beneficiaries at the same time. The customer also acknowledges his commitment not to transfer, copy or distribute this information.
Restricting Minors Use:
The systems, laws and international agreements related to investment and the company’s systems do not allow minors to trade through the platforms for trading securities and financial instruments. Therefore, the company prohibits anyone under the age of 18 years from doing any transactions through its platforms.
Likewise, the company prohibits those who are partially or totally lacking legal capacity from trading through its platforms, and that is within the information available to the company about the age of clients. The company reserves the right to cancel the registration of any account which proved that its owner violates this clause.
The client understands that the company provides trading platforms to other parties and acknowledges that he has no right to prevent it from providing these services even if this conflicts with his interests.
- If a third-party program is included in the company’s platform, the company does not give any guarantee for the third-party licenses or its software, as the third-party licenses only guarantee this.
- The company has the right to accept or reject the registration of any client or applicant to open an account with it, as well as cancel the registration of any account without giving reasons and without prejudice to the rights acquired or the amounts paid out of it.
- In case of a conflict of interest, the company must carry out fair treatment for all its customers, represented by disclosing its rules while maintaining confidentiality of data and dealings.
- The company will not conduct any transaction that conflicts with the duty of care due of the customer unless it clarifies this conflict to the customer and the customer agrees to that.
Emergency Closure of the Platform:
The company has the right from time to time to add, amend or cancel any part of the trading platform, whether for maintenance or routine construction of servers or for any emergency, provided that the company provides notice to clients before 48 hours. However, not receiving such notice does not violate the company’s obligations in accordance with this agreement.
- The company makes communications with the customer by all means, including fixed or mobile phone, fax, electronic or regular mail, or any other means of communication that the company deems appropriate.
- The customer acknowledges that the contact information he provided to the company is correct and that he is responsible for its safety and for informing the company of any updates or changes made on it. It is considered as a sufficient effort for the company to send any mail to the address it has.
- The customer agrees on recording telephone conversations between him and the company and to keep these records with the company. The client also agrees on scanning the documents sent by fax or any other means of communication and store them in the way the company deems appropriate. He also acknowledges the company’s right to use them as an evidence of the two parties’ dealings.
The client undertakes to provide the initial margin on his own account, as well as to ensure the existence of the maintenance margin continuity. The client acknowledges the company’s right to determine the amount and the total number of open or permitted transactions in the trading platform in the client’s account according to the company’s vision, estimates and accounts for the convenience of the client.
- It is understood that the company, without notifying the client, has the right to change the margin requirements (whether the maintenance margin or the initial margin). And the customer must provide the margin limits in his credit portfolio. The company also has to apply its requirements for suitability on open positions or new positions with the client being solely responsible for monitoring the amount deposited in the trading account and to ensure that the amounts meet the margin limits
- The company is not obligated to cover the customer’s margin or provide credit or loans to him and it has the right to warn the customer of the low margin percentage he has and set a time period for him to cover this margin. And the customer in that period must deposit money in the trading account that raises the margin percentage or carry out closed trades. The company should evaluate the position and hedge the client’s positions during the re-evaluation of the position.
- In the event that the client is unable to fulfill the margin requirements after being granted an opportunity and a period of time determined by the company, the company may close any of the client’s open positions or all of his positions even if this achieves a loss or profit to the client without notification and without liability from the company.
- It is understood that the existence of more than one trading account for the same client means that each account has its independence and is treated separately from the other. So, no outstanding balance in the account may be considered related to any other trading account; as the client is obligated to provide the margin level for the account independently from other accounts.
- Margin is paid in cash and in the currency of the trading account or any other currency decided by the company.
General Foundations of Trading
The company arranges the execution of the client’s orders placed on the trading platform, whereby the company executes the orders received within a reasonable speed.
- Transactions consist of an offer made by the client to the company to complete a transaction, whether to open or close a position at a specified price, but the offer is not complete until the offer is received and the company accepts it, and it is not considered a clear acceptance except through the company’s confirmation of its terms.
- Every position opened by the client and every completed transaction created upon his request shall be deemed binding on the client.
- The client may request a quote to open or close a position for a specific underlying asset during the trading hours of this underlying asset, and the company may submit a quote or accept an offer to open or close the position of this asset outside its trading hours, and it may also reject any trades outside the specified time.
- The client understands that trading on the platforms is dealing with exchanges that may not often be recognized. He also understands that the quoted prices are only used for the client’s trading purposes and agrees not to use these prices or redistribute them to other people.
- The client understands that the trading platform is independent of any major markets and it does not oblige the company to offer a specific price, nor to follow the rules, mechanisms and principles of trading in those markets. The prices offered by the company are in no way linked to the prices offered in the relevant basic markets, so the company is not obligated, when executing the client’s order, to execute them at a more efficient and appropriate price than the price that might be offered in another market or platform.
- The company may ignore any prices displayed on its platform before the market opens or after it closes, or during auction times in the relevant primary markets or in periods of short price fluctuations
- The client is bound by any restrictions or instructions communicated by the company regarding his investments and activities on the trading platforms. The company has the right to determine the volume of transactions and trades and its conditions for any client.
- The company limits the volume of transactions to the minimum number of units in the trading platform considering the unit amount and its multiples as the maximum amount allowed for trading through the platform, and the company determines the unit amount for each underlying asset
- The company has the right to reject any order from the customer if it finds that it has reasonable reasons for that.
- The only source for obtaining quotations is the company’s trading platform or any means of communication that the company deems appropriate to inform the customer of the quotations. It is understood that any offers on the client’s device do not in any way constitute a binding source for the quotations.
- The company will not pay any attention to any quotations that contain an apparent error, as indicated in the definition of the clear error above.
- The client is obligated to submit an offer to close or open the position during the period of the quotation validity, and the company is not obligated to complete any deal after closing the quotation.
- In the event of closing or opening a position or part of the open position, the part that will remain open must not be less than the minimum unit price specified in the trading platform. And upon opening the position, the number of units must be more or equal to the minimum unit price specified in the platform.
- When the client requests to open a position, he understands that the company will not open the position if that opening leads to the excess of his balance, margin, or any balance or margin that is placed on the client’s transactions.
- The customer understands that any error on his part leads to the failure of the request to arrive complete, whether it is a technical or mechanical error belonging to the customer, his communication equipment or his software, the company will not answer and/or complete it, and that the company has the authority to decide validity or legality of the request.
- The customer understands the company’s right not to fulfill the requests in unusual market conditions or force majeure situations.
- he client understands the company’s right not to accept an order to open or close the position due to failure to fulfill one of the trading conditions by the client. And that the company has the right to consider that transaction invalid or to close it at the price offered on the platform at the time of closing according to the company’s assessment without the need to justify that.
- The company has the right to take any reasonable measures, according to its vision, in relation to contracts for differences. And for this purpose it may take one or all of the following actions:
- To increase the margin in trades.
- To restrict the client’s right to access trading accounts, including preventing him from closing some trades.
- To change and amend the client’s open trades or his orders, including any orders to take profits or stop losses, and the company has the right to cancel or close those trades.
- To add any amounts due to the client’s accounts.
- To Deduct any amounts due from the client’s accounts.
It is the customer’s duty to provide sufficient funds in his accounts to enable him to conclude any additional transactions or deals in accordance with the procedures specified above, and he is responsible for any transactions that may be subject to the company’s procedures mentioned above.
The Majeure Force:
In the event of a sudden accident or force majeure, the company may take one or all of the following measures:
- Deactivate the customer’s account.
- Limiting the client’s access to some orders or trading in open positions or closing those positions.
- Failure to fulfill some client’s requests and orders
- Amending the terms of this agreement in whole or in part.
- Postponing the implementation of some of the client’s requests.
- Closing accounts for some clients.
Agreement Time Limits:
This agreement is valid since the customer starts dealing with the company and the company accepts this deal. However, the company has the sole will to terminate this agreement directly and inform the customer of this within a reasonable period. But this procedure will not have any effect on any actual sums paid by either party or any rights or obligations that have arisen for each of them. This is considered to be an authorization for the company to close any open positions for the client and a pure right for it to prevent the client’s access to the platforms.
When this is done, the client’s accounts are balanced and any amounts on the client or for him shall become directly due. Beside the right of the company to stop the client’s withdrawal of funds from the trading account and to keep the funds for a reasonable period to pay any outstanding obligations on the client or to fulfill the requirements of closing the open positions.
The client understands the company’s right when closing the account to convert currency in trading accounts to seize the funds fully or partially set aside, especially if the closure was caused by a decision or request by the competent authority.
- Upon closing the transaction, all the sums owed by one of the parties to this agreement are immediately payable, and accordingly this agreement is considered as an authorization to deduct or add any sums to the trading accounts when the transaction is closed. Placing an order for trading and even closing this matter is considered a restriction on the client’s freedom to withdraw from the maintenance margin.
- The customer is obligated to pay any taxes or fees imposed by a competent authority related to the transactions on the platform or he authorizes the company to deduct them and pay them to the competent authority on his behalf.
- The client is obligated to pay any commissions accrue to the company or others as a result of his transactions on the platform.
When balancing the amounts owed to either party upon closing the transactions, the customer will be responsible for settling any differences related to the sale or purchase and the closing price of the transaction. If the purchase price or the sale price constitutes a difference with the opening price of the transaction so that the customer is obligated to pay the difference if the closing price of the transaction is higher than the opening of the sale or the closing price of the transaction is lower than the opening price of the purchase and vice versa. Profit is generated for the client if the transaction’s closing price is less than the opening price of the sale or the transaction’s closing price higher than the opening price at the time of purchase.
It is agreed that the settlement of rights in the platforms will be through cassation.
Liquidation and Setoff:
- After making the settlement, determining the client’s financial position, and conducting a set-off between his obligations and rights, the party who owed an amount to the other party from the agreement is obligated to pay the said amount without delay. So that the company pays the client any amounts if his account is a credit, and the customer pays the company any amounts if his account is in debt without prejudice to the company’s right to combine and clear all trading accounts opened in the name of the client and/or to conduct a consolidation and settlement of these balances in one account.
- In the event that the client requests to transfer his money to a specific financial institution and after that it is decided that the institution is insolvent or bankrupt, the company has the right to claim on behalf of the client those funds without obligating the company to do so and without considering this agreement as a guarantee for the company’s claim on behalf of the client.
- The company grants the client, within its capabilities, the right to know or track information related to his money held by the company.
- In other than cases of a judicial decision or a decision issued by a competent authority, the company will not seize any of the client’s money for the benefit of a third party except for the purposes of fulfilling his trading obligations and his obligations contained in this agreement or the company’s rights.
Failure to Fulfill Obligations:
- The client is considered failing to fulfill his obligations and breaching them if he breaches any of his obligations mentioned in the agreement, especially in the following cases:
- Using fake names, characteristics, or information when opening an account.
- Violation of the trading rules and regulations established by the company.
- The existence of suspicion of engaging in money laundering, terrorism financing, crime, or any illegal activity.
- Using abusive trading.
- The inability of the customer to make any due commitment as stated in this agreement or any of its amendments or any of the approved papers on the company’s website.
- Inability or lack of commitment to provide any documents, identification documents or guarantees decided by the company.
- Failure to agree to amend the company’s systems, including this agreement.
- Client insolvency report, declaration of bankruptcy, or seizure of his funds.
- When the customer fails as mentioned above, the company may take all or some of the following measures without the need to notify the customer of that:
- Resorting to court regarding the losses incurred by the company.
- Reversing the restrictions and canceling the profits obtained as a result of abusive or fraudulent trading.
- Restricting all or some of the client’s trading movement.
- Cancel all or some of the client’s trades.
- Close any open positions and prohibit client access to the platform.
- Terminating this agreement or amending all or some of its provisions.
Deposits and Withdrawals:
- According to international regulations, any money of the client in his accounts is deposited in a licensed banking institution that the company determines, and it is kept in the institution in accordance with its regulations in the name of the customer. The company has the right to keep the funds of several clients in the same account.
- The client understands that depositing the funds in the account in the aforementioned institution will be made to his trading account according to the value that the institution receives on the date of receipt after deducting any transfer fees, commissions or expenses required.
The customer has the right to deposit money in his account at the institution, provided that the transfer is made in any way acceptable to the company, taking into account the right to reject any unknown payments or unacceptable third-party payments or any payments that violate the rules of payment by credit cards.
- The client agrees that the payments will be in the currency specified by the company, and in principle the currency of the trading account will be the currency of the client’s country or any currency that the company determines in agreement with the client.
- For the purposes of combating crime and money laundering, the company may request from the client documents confirming the source of the funds that are deposited or will be deposited in the account, and the company may stop the deposit if no documents are submitted confirming the legality of those funds.
- The company is committed to the client’s instructions to withdraw money from his account and to process this request as quickly as possible within its capabilities, market capabilities and working hours, if the client fulfills his requirements and the request is in accordance with the methods specified by the company.
- In the event of a refusal to deposit funds sent by the client to the account, the customer must inform the company directly in writing and authorize it to verify the reasons for refusing to deposit as soon as he accepts this agreement, as well as authorizes it to deduct any expenses required for verification and acknowledges his obligation to provide the company with any documents required to ensure the transfer.
- The company will not approve any withdrawal process for an unknown party or a third party, as the withdrawal process is personal for the same customer.
- In the event of returning money to the client, this return is made on his account and in the manner decided by the company.
- When issuing the withdrawal order, the customer must specify all necessary personal information, as well as provide any documents required and determine the required withdrawal balance, and then the company verifies the customer’s validity for the withdrawal, the possibility of withdrawal and the balance, and the company has the right to transfer in the way it deems appropriate.
- Inactive accounts are accounts that are not activated or any traded on them for a period of three months. In case that the account is not moved, whether by making deposits, withdrawals, or trades for the aforementioned period, the company has the right to impose fees on the trading account of 10 euros per month or any equivalent value according to the currency of the client’s account. The company also closes any open centers to pay these fees, and in the event that there is no sufficient balance to cover these fees, the fees are recorded as a debt owed to the customer without notice or warning, and the company has the right to take necessary measures for this to completely close the customer’s account.
- In the event that the account is left inactive for a period of more than two years, the company may close the account after paying the above-mentioned fees, settle the account and keep the funds, if any, for the benefit of the customer with the company.
- The customer understands that any promotional money placed in his account cannot be paid by the inactive trading fees, as the company has the right to recover those funds originally granted to the client without charge.
- With the client acknowledging his understanding of the trading steps, by accessing the platform and entering the account credentials, he authorizes the company to carry out the instructions and orders that he enters and requests without inquiring about their validity by the company. All electronic instructions or any means of communication issued by the customer are considered written orders, and thus the customer bears the risks of all the instructions he issues even if they are inappropriate, fraudulent or unauthorized, and the company is absolved of any obligation that arises as a result of that regardless of this obligation and whatever its value was. The customer bears the result of these instructions and any liability or lawsuit filed against the company in any way.
- The authorization granted to the company does not mean that there is a legal right or obligation on it to give advice or verify the correctness of any of the instructions and signatures before each trade.
- The client authorizes the company to act based on any instructions given by him or any instructions the company has serious reasons to believe that they are given by the client on the trading platform.
- This authorization does not constitute a duty for the company to act in accordance with the instructions issued by the customer if this constitutes a violation of any rule, work regulation, international agreement, or recognized law.
Likewise, the order given by the customer does not constitute any obligation on the company if the client submitting the order exceeds his powers, and the company has the right in the event of violating the laws and agreements or exceeding the powers to close the transaction and the prevailing price or nullify it.
- The company shall dispose of the offers submitted by the clients according to its absolute discretion, and the company shall not be held responsible for any loss or damage, whatever the result of refusal, omission, or delay in disposing of that offer even if it was by mistake.
- Although the company operates under the client’s mandate, the client deals with it as a principal (whether he is a natural person or delegated by a legal person) and is not, in any case, an agent for others; meaning that the customer will be directly and personally responsible for carrying out the obligations required of him unless it is agreed upon Otherwise explicitly and in writing.
Communication and Notifications:
- The main communication language will be Arabic, with the company’s right to use any other official language, and therefore the language of notifications, messages and communication will be Arabic.
- For the purposes of communicating with the customer, the company can use the e-mail or regular or internal mail for the platform or the official mail services, fax or commercial mail, and the communication is based on the details that the customer provides to the company in his personal data. Sending mail to these addresses is considered fulfillment of the company’s commitment to the purposes for which it is required to communicate or correspondence. For these purposes, the data, documents, notifications, and others required from the company are considered delivered to the customer if they are sent via the official e-mail of the company or via the mail of the trading platform or through a phone call or through the official state mail, commercial mail, airmail, or advertisements published on the company’s websites. However, the client is not considered to have received the documents until one hour after sending them via e-mail, unless it is proven that he opened the mail before that, or upon receipt of the sending report to the fax machine, or after receiving what indicates that he had received express or air mail, or about the information being published on the company’s website within half an hour or when the phone call ends directly or as soon as it is sent via the platform’s mail, and all the previous methods are considered as a written notification for dealing.
The jurisdiction in resolving any dispute is subject to the systems, laws and courts of Palau Island, where the territoriality of its courts to review any dispute arising between the customer and the company is held. And the interpretation of this agreement or what constitutes it is also subject to the laws of the island.
This agreement and any amendments thereto or any complementary agreements, as well as all the legal papers published on the page’s website are considered a reference and constitution for the relationship between the customer and the company in everything that is dealt with between them.
Prescription and Liability:
- In the event that the client is one or more persons (whether legal persons or cases of inheritance or something else) the commitment between its members will be solidarity, and any correspondence made to one of the parties of the team is considered as provided to all of them and to each one of them.
- Any delay from the company in claiming its right to compensation in accordance with the general rules or this agreement’s rules does not waive its right of compensation. And ignoring any breach of this agreement by the client is not considered as consent to this breach or a waiver of the right to be compensated or to take the appropriate action by the company.
- In the event of the death of a person who owns a multiple account or losing his legal capacity, the company may deduct the share of this owner until a decision is obtained from the competent authority in the client’s country.
The company is liable to the customer only in the event of proven gross negligence, fraud or deliberate default on its part.
All guarantees and admissions submitted by the client are considered available every time a trading account is opened, transactions closed, or browsing data or pages pop-up from the platform or the company’s website.
- The company’s software and equipment, including the software platforms, are compatible with the requirements of the company, and the company does not bear any responsibility and does not guarantee that the client’s equipment and programs are compatible with those of the company and that the task of ensuring their compatibility together is the responsibility of the customer.
- The presence of minor defects in the trading platform does not constitute a violation of the client’s rights in this agreement and does not impose liability on the company.
- It is the client’s responsibility to ensure that the platform is compatible with the aspirations and hopes of the client, and that the platform’s functionality meets those aspirations.
- The customer must immediately inform the company of any errors, defects, or deficiencies that may exist on the platform.
- In case of security breaches or internet connection interruption, the company will not be responsible for that.
- Force majeure and a sudden accident allow the company to stop trading or limit it, and it is considered a reason that relieves the company of its commitment.
- Fluctuations in trading unit prices, asset values, tax rates, or changes in funds transfer fees do not place the company on any liability.
- Any loss resulting from the access of others to the client’s credentials or account shall be borne by him alone, unless he informs the company of this before using them.
- The client understands that the company does not have the right to control the transfer of data through the communication facilities, nor is the company responsible for communication failure or delay when trading.
- In the event that the data and information are inaccurate or have been changed according to market prices, this does not constitute a responsibility of the company.
Trading in Contracts for the Difference:
- The company provides a contract for difference trading service for all types of underlying assets across its platforms, including foreign currency contracts, forward contracts, stocks, and base and precious metals. In order to initiate the transaction on the trading platform, the client will open buy and sell transactions according to the prices shown on the trading platform at the specified time and it is prohibited to transfer open positions to CFDs or other foreign currency providers or their platforms due to the personality of these offers and trades.
- The client may issue an offer at the best price in the market on the trading platform upon opening the transaction, unless he set a specific price to present the offer of that transaction, and the offer is called the market order in the first case, and in the second case the specified order. The client understands that the market order, when completed, may not be exactly the same as the offered price, and the client agrees to accept the market opening offer at a slightly different price depending on the trading platforms. The company tries to get the best possible price offered on the trading platform to achieve the desired profit for the client. As for the specific order, the price at which the transaction is completed may not be equal to the specified price offered at the moment of submitting the order, and the customer understands the company’s contract for the deal with a slight difference, taking into account the company’s chances of making the best profit for the customer.
- The customer may remove the orders unless they are executed, and stop loss orders can be changed and modified at a specific level and according to the company’s decision.
- Orders and instructions to open positions outside of trading hours may not be executed if the price in the market changes even if the company accepts them.
- Whenever there is a necessity, the company deletes or cancel the market orders that have not been executed due to the lack of capacity or sufficient volume to fill them, provided that the pending orders remain valid during the trading session if possible and the open positions are carried over to the next business day if possible according to the company’s ability and vision.
- Orders can be changed during trading hours for all types of contracts shown on the company’s website.
- The client understands and acknowledges that the price of the underlying asset according to trading is determined by the platform, and upon opening the trading process, the client is not allowed to trade except according to the price specified on the platform.
- The client may change, delete and/or amend the expiration date of the pending orders that were not executed according to the company’s systems.
- The client confirms that the prices on the platform may not constitute the actual price for trading, according to market price fluctuations.
- The company will, as much as possible, inform the client when the price of the underlying asset changes to the interest of the customer, and in the event that it fluctuates negatively, the company has the right to close the transaction at the next best price if the company cannot guarantee the implementation of the order in the customer’s request.
- In case that the company is not able to do so, it will send the customer another new price offer, knowing that the company will implement the customer’s orders in order and in sequence.
- The client does not have the right to set the closing price for an off-duty transaction, and the company may allow him to set the closing price during trading hours.
- If the client chooses additional functions for the trading platform, such as an expert advisor or something similar, then this is at the sole responsibility of the client without any liability on the company.
- A stop-loss order may not limit losses to the intended amounts, as market conditions may prevent this order from being executed at the mentioned price.
- The company has the right to accept the request to open or close a transaction within a period specified by the customer. However, the company may close the transaction within the period the company considers it necessary.
- Sometimes, due to market fluctuations, orders may not be executed at the level specified on the client’s request, and this does not constitute a violation of the company’s right
- Any transaction that was not closed during the holidays, the end of business, or the market closing is shifted to the next business day and a premium will be added in the form of a fixed percentage of the position value.
- The client authorizes the company to deduct or add any installment from the trading account in any open transaction according to the price setting on the day of collection in the trading platform and the client declares upon opening any transaction that he is aware of the premium.
- Price margins: all contracts for difference and all foreign currencies available with the company appear on the trading platform or the company’s website, taking into account the margin rates as indicated in this bulletin.
- The company has the right to set a specific date for the expiration date of a specific instrument, and if this date is specified for any underlying asset, it will be displayed on the platform in the details link of the asset.
- The financial leverage is regulated according to the company’s vision and at the request of clients. Changing the leverage is subject to the company’s regulation.
The company has the right to review this statement many times whenever needed without notifying the clients, either before or during the deals, and at any time the company finds necessary.
The company welcomes any questions in this regard, Email us at firstname.lastname@example.org