TERMS AND CONDITIONS - Easy Trade

Transcription

TERMS AND CONDITIONS

TERMS AND CONDITIONS1. INTRODUCTION1.1 Easy Trade LTD. is a company incorporated inSaint Vincent & Grenadines under licensenumber26091BC2020 and having itsregistered office address at Suite 305,GriffithCorporate Centre, Kingstown, St. Vincentand the Grenadines (the “Company”)the Company; and "Control" means the power todirect or the presence of ground to manage theaffairs of the Company or entity.Agreement shall mean this Agreement asamended from time to time, inclusive of alldocument incorporated by reference therein,(including Appendix 1), as the same may be inforce from time to time.Authorized Representative shall mean theperson of paragraph 41 of this Agreement.1.21.3This Agreement shall govern therelationship between the Company and theClient whereby the Company will provideto the Client and the Client shall receivefrom the Company investment andancillary services, in the manner describedherein.The official language of the Company isEnglish language.2. INTERPRETATION OF TERMS2.1 The definitions and rules of interpretation inthis paragraph apply in this Agreement.Access Data shall mean the login and password ofthe Client, which are required so as to haveaccess on and use the Platform(s).Account Opening Application Form shall meanthe application form/questionnaire completed bythe Client in order to apply for the Company'sServices under this Agreement and a ClientAccount,via which form/questionnaire theCompany will obtain, amongst other things,information for the Client's identification and duediligence, his appropriateness or suitability (asapplicable).Account Opening Process shall mean the processby which the Client submits to the Company anAccount Opening Application Form together withall information and documentation required forperforming the Client due diligence andidentification.Affiliate shall mean in relation to the Company,any entity which directly or indirectly controls oris controlled by the Company, or any entitydirectly or indirectly under common control withEasy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020Balance shall mean the total financial result inthe Client Account after the last CompletedTransaction and depositing/withdrawal operationat any period of time.Base Currency shall mean the first currency in theCurrency Pair against which the Client buys orsells the Quote Currency.Brokerage Department shall mean thedepartment of the Company which bears theresponsibility of providing, and supervising theprovision of, the investment service of receptionand transmission of orders in relation to one ormore Financial Instruments, the investmentservice of execution of orders on behalf of Clientsand dealing on own account.Business Days shall mean any day, other thanSaturday and Sunday and/or public holiday.Client shall mean in general terms, any natural orlegal person to whom the Company providesservices under this Agreement and specifically aperson who has submitted to the Company allrequired Account Opening Application Form(s)and documents and who has been accepted as aClient by Company as per paragraph 5.1 of thisAgreement.Client Account shall mean the uniquepersonalised account of the Client consisting,inter alia, of all Completed Transactions, OpenPositions and Orders in the Platform, the Balanceof the Client money and deposit/withdrawaltransactions of the Client money.Closed Position shall mean the opposite of anopen position, thereby nullifying it andeliminating the initial exposure. Thus, profit orloss will be settled.Company shall mean Easy Trade LTD.Page 1

TERMS AND CONDITIONSLimited is a company incorporated in SaintVincent & Grenadines under license number26091BC2020andhavingits registeredoffice address at Suite 305,Griffith CorporateCentre , Kingstown, St. Vincent and theGrenadines.Completed Transaction in a CFD shall mean twocounter deals of the same size (opening aposition and closing a position): buy then sell andvice versa.Corporate Action shall mean the subdivision,consolidation or reclassification of shares, a sharebuy-back or cancellation, or a free distribution ofbonus shares to existing shareholders,capitalization or share split or reverse share splitor similar event, a distribution to existing holdersof the underlying shares or additional shares,other share capital or securities, granting theright to payment of dividends and/or proceedsfrom the liquidation of the issuer equallyproportionate to such payments to holders of theunderlying shares, securities, or warrantsgranting the right to receive or purchase sharesfor less than the current market price per shareor any other event regarding shares analogous toany of the above events or otherwise having adiluting or concentrating effect on the marketvalue of shares.Contract Shall mean any contract, unless thecontext otherwise requires, oral or written, forthe purchase of sale of any commodity, security,currency or any other supported financialinstrument, including without limitation, anyderivative contracts, such as CFDs or othertransactionsrelatedthereto,enteredinto by and between us and the Client;CFD shall mean contracts for difference.Equity shall mean the Balance plus or minus anyFloating Profit or Loss that derives from an OpenPosition and shall be calculated as: Equity Balance Floating Profit - Floating Loss.Essential Details shall mean the required detailsin order for the Company to be able to place theOrder for example but not limited to the type ofFinancial Instrument, the type of Order, type ofUnderlying Asset, if the Client places a PendingOrder (limit or stop) the Client will indicate theintended price in which the Order will go in themarket and any Stop Loss and or Take Profit etc.Easy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020Event of Default shall have the meaning as setput in paragraph 32.5 of this Client Agreement.Expert Advisor shall mean a mechanical onlinetrading system designed to automate tradingactivities on an electronic trading platform. It canbe programmed to alert the Client of a tradingopportunity and can also trade his accountautomatically managing all aspects of tradingoperations from sending orders directly to thePlatform to automatically adjusting stop loss,trailing stops and take profit levels.Financial Instruments shall mean all financialinstruments pursuant to which the Companyprovides the investment services and activities asthere are indicated in paragraph 6.4 of thisAgreement.Floating Profit/Loss in a CFD shall mean currentprofit/loss on Open Positions calculated at thecurrent Quotes (added any commissions or fees ifapplicable).Market Shall mean any market, or multilateraltrading facility on which Underlying Assets arebeing traded.Free Margin shall mean the amount of fundsavailable in the Client Account, which may beused to open a position or maintain an OpenPosition. Free Margin shall be calculated as:Equity less (minus) Necessary Margin [Freemargin Equity-Necessary Margin].Hedged Margin for CFD trading shall mean thenecessary margin required by the Company so asto open and maintain Matched Positions.Initial Margin for CFD trading shall mean thenecessary margin required by the Company so asto open a position.Introducer shall have the meaning as set put inparagraph 41.8 of this Client Agreement.InvestmentservicesServicesshall mean brokerageLeverage for CFD trading shall mean a ratio inrespect of Transaction Size and Initial Margin.1:100 ratio means that in order to open aposition, the Initial Margin is one hundred timesless than the Transactions Size.Long Position for CFD trading shall mean a buyposition that appreciates in value if underlyingmarket prices increase. For example, in respect ofPage 2

TERMS AND CONDITIONSCurrency Pairs: buying the Base Currency againstthe Quote Currency.Lot shall mean a unit measuring the Transactionamount specified for each Underlying Asset of aCFD.Lot Size shall mean the number UnderlyingAssets in one Lot of a CFD.Margin shall mean the necessary guarantee fundsso as to open or maintain Open Positions in a CFDTransaction.Margin Call shall mean the situation when theCompany informs the Client to deposit additionalMargin when the Client does not have enoughMargin to open or maintain open positions.Margin Level for CFD trading shall mean thepercentage of Equity to Necessary Margin ratio. Itiscalculated as: Margin Level (Equity / NecessaryMargin) x 100%.Margin Trading for CFD trading shall meanLeverage trading when the Client may makeTransactionshaving less funds on the Client Account incomparison with the Transaction Size.Matched Positions for CFD trading shall meanLong and Short Positions of the same TransactionSizeopened on the Client Account for the same CFD.Necessary Margin for CFD trading shall mean thenecessary margin required by the Company so asto maintain Open Positions.Open Position shall mean any transaction orcontract which resulted from an executed order,and which is still in effect, unsettled, nonconcluded, by assuming varying profit or loss inaccordance with price movements of FinancialInstrument(s). Open position is not a CompletedTransaction.Order shall mean an instruction from the Client totrade in Financial Instruments.Order Execution Policy shall mean the orderexecution policy of the Company as set out indetail in the Order Execution Policy documentreferred to in paragraph 9 (as amended fromtime to time).Easy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020Over-the-Counter (OTC) shall mean trading ofFinancial Instruments directly between twoparties,outside of an exchange traded environment.Party shall refer to Company and/or its Client(s),as the case may be, as it appears from thecontextinwhich the term is used in this Agreement; theCompany and its Client(s) may collectively, bereferred to in this Agreement as the "Parties".Quote shall mean the information of the currentprice for a specific Underlying Asset, in the formof the Bid and Ask prices.Quote Currency shall mean the second currencyin the Currency Pair which can be bought or soldbythe Client for the Base Currency.Services shall mean the services to be providedby the Company to its Clients in accordance withParagraphs 6.1 and 6.2 of this Agreement.Short Position for CFD trading shall mean a sellposition that appreciates in value if underlyingmarketprices fall. For example, in respect of CurrencyPairs: selling the Base Currency against the QuoteCurrency. Short Position is the opposite of a LongPosition.Slippage shall mean the difference between theexpected price of a Transaction in a CFD, and theprice the Transaction is actually executed at.Slippage often occurs during periods of highervolatility(for example due to due to news events)making an Order at a specific price impossible toexecute, when market orders are used, and alsowhen large Orders are executed when there maynot be enough interest at the desired price levelto maintain the expected price of trade.Transaction shall meancontemplated by a Contract.anytransactionTransaction Size for CFD trading shall mean LotSize multiplied by number of Lots.Trailing Stop in CFD trading shall mean a stoploss order set at a percentage level below themarket price- for a long position. The trailing stopprice is adjusted as the price fluctuates. A selltrailing stop order sets the stop price at a fixedamount below the market price with an attached"trailing" amount. As the market price rises, thePage 3

TERMS AND CONDITIONSstop price rises by the trail amount, but if the pairpricefalls,thestoplosspricedoesn't change, and a market order is submittedwhen the stop price is hit. Trailing Stop Ordermay not be executed on Company Platform.Stop Loss shall mean an instruction that isattached to an open order if the type is a marketorder and an instruction that is attached to aprice or limit order before execution forminimizing loss.In the case of market ordernegative or positive slippage might occur.Terms and Conditions shall mean the terms andconditions set out in this Agreement whichgovern the Company's relationship with theClient.Trading Account shall mean the account, whichhas a unique number, opened by the Companyandmaintained by the Client for the purposes oftrading financial instruments through theCompany's Trading Platform(s) in accordance withthe terms of this Agreement.Trading Platform or Platform(s): shall mean theelectronic mechanism operated and maintainedby the Company, consisting of a trading mmunication hardware, programs andtechnical facilities, which facilitates tradingactivityoftheClientinFinancialInstruments via the Client Account.paragraphs 39.3Agreement.Website shall mean the Company's websiteowned and operated by the Company.Written Notice shall have the meaning set out inEasy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020oftheClient2.3Paragraph and schedule headings do notaffect the interpretation of this Agreement.2.4A person includes a natural person, acorporateorunincorporated body(whether or not having separate legalpersonality) and that person's personalrepresentatives, successors or permittedassigns.2.5Unless the context otherwise requires,words in the singular include the plural andin the plural include the singular.2.6A reference to one gender includes areference to the other gender.2.7A reference to any party shall include thatparty'spersonalrepresentatives,successors and permitted assigns.2.8A reference to a company shall include anycompany, corporation or other bodycorporate,wherever and however incorporated orestablished.2.9Writing or written includes faxes but not email (unless otherwise expressly providedin this agreement).Spread shall mean the difference between the bidand ask prices quoted in Company's tradingplatforms.Underlying Market shall mean the relevantmarket where the Underlying Asset of a CFD istraded.39.42.2 Capitalised terms not specifically defined inthis paragraph shall have the meaningawarded them in the body of thisAgreement (or any document incorporatedby reference therein, as applicable).Swap shall mean the overnight interest ratecredited or debited on the open position.Underlying Asset shall mean the object orunderlying asset in a CFD which may be CurrencyPairs Commodities and Metals. It is understoodthat the list is subject to change and clients mustrefer each time on the Platform.and2.10 References to this Agreement include thisagreement as amended or varied inaccordance with its terms.3. AKNOWLEDGEMENT3.1The Client acknowledges that he read,understood and accepts this Agreementand the terms and conditions containedherein in addition to all informationPage 4

TERMS AND CONDITIONScontained within the Company's Website.3.2The Client acknowledgesthat uponentering into this Agreement, its provisionsbecome legally binding and enforceable.Client also acknowledges that he/she is nota citizen or permanently residing in any ofthe following countries, United States,Singapore , Israel, Belgium and NorthKorea.3.3The Client acknowledges that his use andaccess to the Trading Platform is governedby the Terms and Conditions in effect onthe date on which Company's TradingPlatform is accessed and/or used by theclient.3.4The Client acknowledges that trading inany Financial Instrument involves asignificant level of risk and may result inloss of all funds invested.4.5. COMMENCEMENTAGREEMENT5.14.26.14.3Easy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020This Agreement together with and all otherrelevantandancillarydocumentsIncorporated by reference herein (such asAppendix 1, Order Execution Policy, PrivacyPolicy, Risk Disclosure Policy and all otherpolicies, manuals and instructions which areavailable online within the Company'sWebsite shall come into full force and effectonce the Account Opening Process iscompleted and upon the receipt by theClient of a notice sent by the Companyinforming the Client that he has beenaccepted as the Company's Client or that aTrading Account has been opened for him.The Company may offer the followingInvestment Services to the Client:(b) Execution of orders on behalf of Clientsin relation to one or more financialinstruments.(c) Dealing on own account6.2The Company may additionally offer thefollowing ancillary services to the Client:(a) Safekeeping and administration offinancial instruments for the account ofClients, including custodianship andrelated services;It is expressly understood and agreed thatneither this Agreement nor anything in itshallconstituteor be deemed to establish a partnership,agency relationship or joint Venturebetween the Client (or any of its entities,offices, employees or agents) and theCompany (or any of its offices, employeesor agents).CLIENT(a) Reception and transmission of ordersin relation to one or more financialinstruments;This Agreement sets out the basis on whichthe Company agrees to provide investmentand ancillary Services on financialinstruments to the Client and shall governall investment and/or ancillary servicesprovided by the Company.This Agreement supersedes any previousagreements or arrangements between theCompany and the Client including but notlimited to any express or impliedstatements made by Company to the ClientTHE6. PROVISION OF SERVICESSCOPE4.1OF(b) Foreign exchange services where theseservices are connected to the provisionof investment services;6.3It is understood that when trading in CFDs,the Company shall not hold any FinancialInstruments of the Client and shall not beproviding safekeeping and administration ofPage 5

TERMS AND CONDITIONSFinancial Instruments for the account ofClient or custodianship.6.46.56.6The Investment Services referred to inparagraph 6.1 above and the ancillaryservices referred to in paragraph 6.2 aboveshall be offered to the Client in relation tofinancial CFDs for Currencies, Commoditiesand Metals.Thetradingconditions(ContractSpecification Policy) and execution rules(Order Execution Policy) of the FinancialInstruments on offer by the Company canbe found online at the Company Website atany given time and are fully incorporatedherein as an integral part of thisAgreement. In accordance with theprovisions of this Agreement, upon noticeto the Client, the Company reserves theright to amend the said trading conditionsand execution rules from time to time.Where the Company duly amends any partof the trading conditions and/or executionrules the Client continues to be bound bythe Agreement, including but not limited toany amendments that have beenimplemented.Unless specifically agreed, the Company isunder no obligation to monitor or advisethe Client on trading and therefore theCompany may execute an Order received bythe Client even if such transaction is notsuitable for the Client.6.7The Client understands that no physicaldelivery of the derivative financialinstrument's underlying Asset (or referenceinstrument) that he/she traded throughhis/her trading account shall occur.6.8The Client accepts that for the purposes forthe Financial Instruments offered by theCompany, the Company acts only as anagent on the Clients behalf. The CompanyEasy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020will transmit the Client orders in theexternal market (other liquidity providers)for execution.6.9The Client may trade through his TradingAccount from Sunday 21:00 until Friday21:00 (GMT). It should be noted thattrading of certain financial instrumentsoccurs during specific time frames. TheClient shall be notified of any Companyholidays through the internal e-mailingsystem and/or the Company's Website.6.10 Company is entitled to refuse the provisionof any Investment or Ancillary Service tothe Client, at any time, without beingobliged to inform the Client of the reasonsto do so in order to protect the legitimateinterests of the Company or the Client orboth.6.11 The Company shall open one or more aClient Account(s) for the Client and issueAccess Data to allow him to place Orders inparticular Financial Instruments onparticular Platform(s). It is agreedand understood that the Company offersits services in relation to the FinancialInstruments. However, the Client may beallowed to trade only in any FinancialInstruments.7. ADVICE AND COMMENTARY7.1The Company may not give the Client anyform of investment advice and the Clientacknowledges that the Services do notinclude the provision of investment adviceinFinancialInstrumentsortheUnderlying Markets or Assets. The Clientalone will decide how to handle his ClientAccount and place Orders and takerelevant decisions based on his ownjudgment.7.2The Company will not be under any duty toprovide the Client with any legal, tax orPage 6

TERMS AND CONDITIONS7.3other advice relating to any Transaction.The Client may wish to seek independentadvice before entering into a Transaction.7.4The Company may, from time to time andat its discretion, provide the Client (or innewsletters which it may post on itsWebsite or provide to subscribers via itsWebsite or otherwise) with information,recommendations,news,marketcommentary or other information but notas part of its Services to the Client. Whereit does so:8. ELECTRONIC TRADING8.1 Once the Agreement is in effect in accordancewith paragraph 5.1 the Client shall:(a) Download and install the TradingPlatform software (the "Software")available online at the Website and/oraccess his or her account through theweb-based Trading Platform of theCompany; and(a) The Company will not be responsiblefor such information.(b) The Company gives no representation,warranty or guarantee as to theaccuracy, correctness or completenessof such information or as to the tax orlegal consequences of any relatedTransaction.(c) This information is provided solely toenable the Client to make his owninvestment decisions and does notamount to investment advice orunsolicited financial promotions to theClient.(d) If the document contains a restrictionon the person or category of personsfor whom that document is intendedor to whom it is distributed, the Clientagrees that he will not pass it on toany such person or category ofpersons.(e) The Client accepts that prior todispatch, the Company may haveacted upon it itself to made use of theinformation on which it is based. TheCompanydoesnotmakerepresentations as to the time ofreceipt by the Client and cannotguarantee that he will receive suchinformation at the same time as otherclients.Easy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC2020It is understood that market commentary,news, or other information provided ormade available by the Company are subjectto change and may be withdrawn at anytime without notice.(b) Receive, through an e-mail, accesscodes, and specifically the Access Datato enable him/her to log-in to theTrading Platform(s) in order to sendand/or modify Orders for the purposesof trading financial instruments.8.2The Software, which may have beendeveloped by a party other than Company,supportsdatasecurityprotocolscompatible with the protocols used by theCompany.8.3The Client shall be solely responsible forany Orders sent and/or received throughthe Trading Platform from the Client orhis/her Authorized Representatives.8.4The Client shall ensure that his AccessCodes remain confidential at all times. If,under any circumstances, the Client revealsthe Access Codes to either a natural or legalperson, other than his authorizedrepresentative, the Company shall bear noresponsibility for any loss that arises,including but not limited to financial loss, asresult of the Client's actions. Withoutprejudice to any other provisions of thisAgreement, the Client will be liable for allPage 7

TERMS AND CONDITIONS8.58.6Transactions and/or Contracts executed bymeans of his or her Access Codes, even ifsuch may be wrongful.(b) due to any mechanical, software,computer, telecommunications orelectronic system failure that couldhave been controlled by either theClient or the Company; orThe Client shall immediately inform theCompany if it comes to his attention thatthe Access Codes have been used, eitherfor trading or other purposes, without hisexpressed consent. The Client accepts thatCompany is unable to identify any instanceswhere a person, other than the Client or hisAuthorized Representative, is logging-in tothe Trading Platform without the Client'sexpressed consent.(c) internet failure.The Client accepts that Company reservesthe right to temporarily or permanentlyterminate the Client's access to the TradingPlatform in order to ensure and/or restorethe orderly operation of the TradingPlatform and protect the interests of theCompany or the Client or both. Under suchcircumstances as the Company may, at itsdiscretion, see fit the Company may closethe Client's Trading Account.8.7The Client accepts that the Company bearsno responsibility if either a natural or legalperson attains through unauthorized accessany information, including informationregarding Client's trading, whilst suchinformation is being transmitted from theClient to the Company (or any other partyauthorized by the Company) and vice versa,irrespective whether that transmissionoccurs through electronic or other means.8.8The Client accepts that the Company bearsno responsibility for any loss, including butnot limited financial loss, incurred by theClient due to inability of the latter to accessthe Trading Platform if this has beencaused:(a) due to the Client's failure to maintainthe Software updated as required; orEasy Trade LTD. Suite 305, Griffith Corporate Centre,Kingstown, St. Vincent and the GrenadinesEmail: support@easytrade.ioEasy Trade LTD. is a company registered in Saint Vincent andthe Grenadines and is authorised by the Financial ServicesAuthority of SVG under license number 26091BC20208.9Company is responsible for maintaining itsTrading Platform and other related systemsupdated; therefore, the Client accepts thatthe Company or a relevant third party may,from time to time, perform maintenancethat may include shutting down, restarting,or refreshing the servers to ensure theeffective and efficient operation of theTrading Platform or other related systems;these actions may cause the TradingPlatform and/or other related systems tobe inaccessible for a period of time. TheClient accepts that the Company bears noresponsibility for any loss, includingfinancial loss, caused due to the above.8.10 The Client accepts that Company is not aninternet service or electricity provider andconsequently, the Client accepts thatCompany is not responsible for any failureto provide an investment or ancillaryservice pursuant to this Agreement, if suchfailure arises as a direct or an indirect resultof an internet service or electricity failure.Accordingly, any Order sent by the Client oron the Client's behalf via Company'sTrading Platform or by e-mail shall only bedeemed to have been received when suchOrder has been recorded as executed byCompany.8.11 If for any reason the Client is unableto access the TradingPlatform in orderto send an Order for the purposes of tradingfinancial instruments he may contact theBrokerage Departmentbyemailatsupport@easytrade.io to place a verbal Order.It should be noted that the Companyreserves the right to reject such verbal Orderwhentheoperator of the BrokerageDepartment is not satisfied withPage 8

TERMS AND CONDITIONSthe Client's identify or clarity of Orders.Under such circumstances, the Companyreserves the right to request from theClient to transmit an Order through othermeans. The Client accepts that the times ofexcessive transaction flow there might besome delay in connecting over thetelephone with a member of the BrokerageDepartment, especially when there areimportant market announcements.8.12 The Client accepts that when usingCompany's Trading Platform, the Clientmust:otherwise, to any third party softwareand/or technology providers whoseproducts and services assist in providingthe platform to the Client.9. ORDER EXECUTION POLICY9.1The Company shall use best endeavors toobtain the best possible results for theClient (namely, best execution) whenexecuting orders or when receiving andtransmitting execution orders.9.2The general overview of the orderexecution policy of the Company and otherfactors relevant to the execution offinancial instruments are set out in detail inthe Order Execution Policy document (asamended from time to time) available at alltime

Margin Level for CFD trading shall mean the percentage of Equity to Necessary Margin ratio. It is calculated as: Margin Level (Equity / Necessary Margin) x 100%. Margin Trading for CFD trading shall mean Leverage trading when the Client may make Transactions having less funds on the Client Account in