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Client Agreement1. Introduction
1.1. TRADERGLOBAL LTD (hereinafter referred to as “Company"), whose registered ofDice is located at The Jaycees Building, Stoney ground, Kingstown, Saint Vincent and the Grenadines, registration number 21236 IBC 2013, renders the “Account Management” service under the terms of this public proposal (hereinafter referred to as “Agreement") to any individual or legal entity (except for stateless persons; individuals under 18 years of age and citizens and legal entities of countries in which the Account Management service is not offered) (hereinafter referred to as “Client”) .
This Agreement should be carefully read by the Client, as it governs all the conditions of the Client's trading and non-‐trading operations and interaction with the Company.
1.2. The terms of this Agreement shall be considered accepted unconditionally by the Client upon the Company’s receipt of an advance payment made by the Client in accordance with this Agreement.
1.3. As soon as the Company receives the Client's advance payment, every operation made by the Client in AM or on the trading platform shall be subject to the terms of the Regulatory Document.
1.4. The Client and the Company enter into every operation in AM or on the trading platform as principals, and the Company does not act as an agent on the Client’s behalf. It means that unless otherwise agreed the Client shall be directly and fully responsible for fulDilling all of its obligations regarding its operations in AM or on the trading platform. If the Client acts on behalf of someone else, regardless of whether that individual is identiDied, the Company shall not view that individual as a client and shall not bear any responsibility to him/her unless otherwise speciDically agreed.
2. Service
2.1. Subject to the Client fulDilling the obligations under this Agreement, the Company shall provide theClient with the ability to make transactions allowed by the capabilities of AM and the Regulations.
2.2. The Company shall carry out all transactions with the Client on an execution-‐only basis, neither managing the account nor advising the Client. The Company is entitled to execute transactions requested by the Client even if the transaction is not beneDicial for the Client. The Company is under no obligation, unless otherwise agreed in this Agreement and the Regulations, to monitor or advise the Client on the status of any transaction, to make margin calls, or to close out any of the Client’s open positions. Unless otherwise speciDically agreed, the Company is not obligated to make an attempt to execute the Client’s order using quotes more favorable than those offered through the trading platform.
2.3. The Client shall not be entitled to ask the Company to provide investment or trading advice or any information intended to encourage the Client to make any particular transaction.
2.4. The Company may in its own discretion provide advice, information or recommendations to the Client, but in this case the Company shall not be held responsible for the consequences or result received from using these recommendations or advice. The Client acknowledges that the Company shall not, in the absence of fraud, intentional failure to carry out its responsibilities or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client including, but not limited to, information regarding any Client transactions. Though the Company has the right to void or close any transaction in the speciDic circumstances set out in this Agreement or corresponding Regulations, any transaction the Client carries out following such an inaccuracy or mistake shall nonetheless remain valid and binding in all respects both on the side of the Company and of the Client.
2.5. The Company shall not support physical delivery of currency in the settlement of any trading operation. ProDit or loss in the deposit currency is deposited to/withdrawn from the Client’s trading account immediately after a position is closed.
2.6. The Company, partners of the Company or other afDiliated parties may have material interest, a legal relationship or arrangement concerning a speciDic transaction in AM or on the trading platform or interests, relationships, or arrangements that may be in conDlict with the interests of the Client. By way of example, the Company may:
a. act as principal concerning any instrument on the Company’s own account by selling to or buying the instrument from the Client;
b. to propose another Client of the Company as a counterparty for the trading operation;
c. buy or sell an instrument the Company recommended to the Client; or
d. advise and provide other services to partners or other clients of the Company who may have interests in investments or underlying assets which conDlict with the Client’s interests.
The Client consents to and grants the Company authority to deal with or for the Client in any manner which the Company considers appropriate, notwithstanding any conDlict of interest or the existence of any material interest in any transaction in AM or on the trading platform, without prior notiDication of the Client. The Company’s employees are required to comply with a policy of impartiality and to disregard any material interests or conDlicts of interest when advising the Client.
2.7. The Company may periodically act on a Client’s behalf in relations with parties with whom the Company or another afDiliated party has an agreement permitting the Company to receive goods or services. The Company ensures that such arrangements shall operate in the best interest of Clients, for example, arrangements granting access to information or other beneDits/services which would not otherwise be available.
3. Client Requests and Instructions
3.1. The Company processes and executes Client requests and instructions in accordance with the Regulations.
3.2. The Company is entitled to decline a Client's request or instruction if any of the conditions set out in the Regulations have not been satisDied before the request or instruction is processed by the Company. However, the Company may, at its sole discretion, accept and execute the Client request or instruction, notwithstanding that the lack of compliance with the Regulations.
If the Company executes the Client request or instruction and subsequently becomes aware of a breach of the conditions of the Regulations, the Company may act in accordance with the Regulations.
4. Netting
4.1. For transactions between the Client and the Company, a conversion will take place using the current exchange rates in accordance with the Regulations.
4.2. If the accrued amount owed the Company by the Client under the Regulations is equal to the accrued amount owed the Client by the Company, the obligations of both sides will be canceled out.
4.3. If the accrued amount owed by one party under the Regulations exceeds the accrued amount owed by the other party, then the party with the larger accrued amount shall pay the excess to the other party and all obligations to pay will be automatically satisDied and discharged.
4.4. The Client is obligated to pay any amount due, including all commissions, charges and other costs determined by the Company.
4.5 The Client may not transfer rights, vest responsibilities, or otherwise transfer or purport to assign rights or obligations under the Regulations without the Company's prior written consent. Any purported assignment or transfer in violation of this condition shall be considered void.
5. Payments
5.1. The Client may deposit funds to a Client account at any time.
5.2. Fund deposit and withdrawal to/from the Client account shall be governed by the Regulation on Non-‐Trading Operations (hereinafter “NTO Regulation").
5.3. If the Client is under the obligation to pay any amount to the Company which exceeds the equity of the account, the Client shall pay the excess within 2 (two) business days of the obligation arising.
5.4. The Client acknowledges and agrees that (without prejudice to any of the Company’s other rights to close out the Client's open positions and exercise other default remedies against the Client in accordance with the relevant Regulation) where a sum is due and payable to the Company in accordance with this Agreement or the relevant Regulation and sufDicient cleared funds have not yet been credited to the Client's account, the Company shall be entitled to treat the Client as having failed to make a payment to the Company and to exercise its rights under this Agreement or the relevant Regulations.
5.5. The Client shall hold full responsibility for the accuracy of payments executed. If the Company bank details change, the Client shall hold full responsibility for any payments carried out in accordance with the obsolete details from the moment the new details are published in AM.
6. Client Funds and Interest
6.1. Client funds are held on Company accounts including segregated accounts opened in the Company’s name for holding Client funds separate from the Company’s funds.
6.2. The Client acknowledges and agrees that the Company will not pay interest to the Client on funds located on Client accounts. The Company reserves the right to establish when and how much interest it will pay on Client funds.
7. Communications
7.1. The rules for communication between the Client and the Company are set out in the relevant Regulations.
7.2. The Client shall issue all instructions and requests through the client terminal. For speciDic account types, the Client may issue instructions and requests by phone.
7.3. By accepting the terms of this Agreement, the Client also agrees to receive emails from the Company to the Client's personal email address.
8. Complaints and Disputes
8.1. The procedure for handling complaints and disputes is described in the corresponding Regulations.
9. Time of Essence
9.1 The adherence to deadlines between the Client and the Company shall be an essential condition of all Regulations.
10. Default on Obligations
10.1. Each of the following constitutes an instance of failure to fulDill obligations:
a. Client’s failure to provide any amount due under the Regulations;
b. Client’s failure to fulDill any obligation due to the Company;
c. the initiation of proceedings by a third party for the Client’s bankruptcy, or if the Client makes a contract or an arrangement with its creditors concerning the settlement of its debt or any other procedure similar to the abovementioned is initiated regarding the Client;
d. any representation or warranty made by the Client in clause 11 is or becomes false;
e. Client's inability to pay debts when they fall due;
f. if the Client dies or becomes legally incompetent; and
g. any other circumstance where the Company reasonably believes that it is necessary or desirable to take any action set out in clause 10.2.
10.2. If an instance of failure to fulDill obligations occurs in relation to the Client’s, the Company may, at its sole discretion, at any time and without prior written notice, take one or more of the following steps:
a. close out all or any of the Client’s open positions at the current quote;
b. debit the Client’s account for amounts owed to the Company;
c. close any or all of the Client’s accounts held within the Company;
d. refuse to open new accounts under the Client's name.
11. Representations and Warranties
11.1. The Client shall represent and warrant that:
a. all information presented in this Agreement, the Regulations and the Client Registration Form is true, complete and accurate in all material respects;
b. the Client is duly authorized to enter into this Agreement, to issue instructions and requests and to fulDill its obligations in accordance with the Regulations;
c. the Client acts as principal;
d. the Client is the individual who submitted the Client Registration Form;
e. all actions performed under the Regulations will not violate any law, ordinance, charter, by-‐law or rule applicable to the Client or in the jurisdiction in which the Client is resident, or any agreement by which the Client is bound or that
concerns any of the Client’s assets;
f. any trading systems used by the client are not targeted at exploiting any weakness in the company's software.
11.2. If the Client breaches clause 11.1 of this Agreement, the Company has the right to void any position or close out any or all of the Client's positions at the current price at any time, at its sole discretion.
12. Governing Law and Jurisdiction
12.1. This Agreement is governed by and shall be construed in accordance with the laws of Saint Vincent and the Grenadines.
12.2. With respect to any proceedings, the Client irrevocably:
a. agrees that the courts of Saint Vincent and the Grenadines shall have exclusive jurisdiction to settle any proceedings;
b. submits to the jurisdiction of the courts of Saint Vincent and the Grenadines;
c. waives any objection which the Client may have at any time to the laying of any proceedings brought in any such court, and
d. agrees not to claim that such proceedings have been brought in an inconvenient forum or that such court does not have jurisdiction over the Client.
12.3. The Client irrevocably waives to the fullest extent permitted by applicable laws of Saint Vincent and the Grenadines, with respect to the Client and the Client's revenues and assets (regardless of their use or intended use), all immunity (on the grounds of sovereignty or other similar grounds) from (a) suit, (b) jurisdiction of any courts, (c) relief by way of injunction, order for speciDic performance or for recovery of property, (d) attachment of assets (whether before or after judgment) and (e) execution or enforcement of any judgment to which the Client or the Client's revenues or assets might otherwise be entitled in any proceedings in the courts of any jurisdiction and irrevocably agrees to the extent permissible by the law of Saint Vincent and the Grenadines not claim any such immunity in any proceedings. The Client consents to satisfying all requirements and court orders in connection with such proceedings, particularly, but not limited to, those regarding any of the Client's assets.
12.4 The Company is a member of the external dispute resolution organization, The Financial Commission (www.theDinancialcommission.org). All Clients are entitled to Dile a complaint with The Financial Commission to resolve a dispute that arises if this complaint cannot be resolved through the Company's internal dispute resolution process.
13. Liability
13.1. The Client will indemnify the Company for all liabilities, costs, claims, demands and expenses of any nature which the Company suffers or incurs as a direct or indirect result of any failure by the Client to fulDill any of the obligations under the Regulations.
13.2. The Company shall in no circumstances be liable to the Client for any consequential direct or indirect losses, loss of proDits, missed opportunities (due to subsequent market movement), costs, expenses or damages the Client may suffer in relation to this Agreement, unless otherwise agreed in the corresponding Regulations.
13.3. Clients do not have the right to give third parties access passwords to the trading platform or AM and agree to keep them secure and conDidential. All actions related to the fulDillment of the Regulations and/or the usage of logins and passwords are considered executed by the Client. The Company does not bear responsibility for the unauthorized use of registration data by third parties.
13.4 The Company shall not be responsible for the Customer's losses that may occur as result of hacking a<acks, accidents or failures in computer networks, electricity power networks and telecommunica@on systems directly used for Client's opera@ons and instruc@ons confirma@on or for Company’s other procedures confirma@on, provided that such hacking a<acks, accidents or failures are not the fault of the Company.
13.5 The Company shall not be responsible for the results of trading opera@ons if such opera@ons decisions were based on the analy@cal materials provided by the Company and (or) by the third par@es. Customer is hereby informed that the transac@ons referred to in this Agreement involve the risk of failure to receive the expected profit, as well as the risk of par@al or full loss of the funds that the Client has deposited to the trading account.
14. Force Majeure
14.1. The Company may, having just cause, determine that a Force Majeure event (uncontrollable circumstances) exists, in which case the Company will, in due course, take reasonable steps to inform the Client. Force Majeure circumstances includes without limitation:
a. any act, event or occurrence (including, without limitation, any strike, riot or civil commotion, terrorism, war, act of God, accident, Dire, Dlood, storm, interruption of power supply, communication equipment or supplier failure, hardware or software failure, civil unrest, government sanction, blockage, embargo, lockouts) which, in the Company’s reasonable opinion, prevents the Company from maintaining market stability in one or more of the instruments;
b.the suspension, liquidation or closure of any market or the absence of any event off of which the Company bases its quotes, or the imposition of limits or special or unusual terms on trading on any such market or on any such event.
14.2. If the Company determines with just cause that a Force Majeure event exists (without infringing any other rights under the Regulations), the Company may at any time and without giving prior written notiDication take any of the following steps:
a. increase requirements;
b.close out any or all open positions at prices the Company considers in good faith to be appropriate;
c. suspend or modify the application of any or all terms of the Regulations to the extent that the Force Majeure event makes it impossible or impractical for the Company to comply with them;
d.take or not take action concerning the Company, the Client and other clients as the Company deems to be reasonably appropriate in the circumstances.
15. Miscellaneous
15.1. The Company has the right to suspend service to the Client at any time for any justiDied reason (notiDication of the Client is not required).
15.2. In the event that a situation arises that is not covered under the Regulations, the Company will resolve the matter on the basis of good faith and fairness and, when appropriate, by taking action consistent with market practice.
15.3. No single or partial exercise or failure or delay in exercising any right, power or privilege (under this Agreement or at law) by the Company shall constitute a waiver by the Company of, or impair or preclude any exercise or further exercise of that or any other right, power or remedy arising under the Regulations or applicable law.
15.4. The Company may in whole or in part release the Client from liability stemming from the latter’s violation of the conditions of the Regulations during the period of it being in force or, alternatively, may reach a compromise decision. In this case, all violations, regardless of how long ago they were committed and in connection with which the Company may Dile a grievance with the Client at any time, are taken into consideration. The above stated conditions do not prevent the Company from exercising its other rights in accordance with the Regulations.
15.5. The rights and remedies provided to the Company under the Regulations are cumulative and are not exclusive of any rights or remedies provided under the law of Saint Vincent and the Grenadines.
15.6. The Company may transfer its rights and obligations to a third party in whole or in part, provided that the assignee agrees to abide by the terms of the Regulations. Such assignment shall come into effect ten business days following the day the Client is deemed to have received notice of the assignment in accordance with the Regulations.
15.7. If any term of the Regulations (or any part of any term) shall be held by a court of competent jurisdiction to be unenforceable for any reason, then such term shall be deemed severable and not form part of the Regulations, but the remainder of the Regulations shall continue to be valid and enforceable.
16. Amendment and Termination
16.1. The Client acknowledges that the Company shall have the right to amend:
a. any part of the Regulations at any time, giving the Client written notiDication three calendar days before the amendments are introduced;
b. the value of a spread, swap and dividend speciDied in the Contract SpeciDications without prior notiDication to the
Client.
Changes are brought into force from the date of notiDication. In exceptional trading conditions the Client recognizes the right of the Company to make changes to the Regulations immediately, without prior notiDication;
other trading conditions with written notiDication to the Client of 1 (one) calendar day.
16.2. The Client acknowledges that the Company may introduce new products and services without prior notiDication.
16.3. The Client may suspend or terminate this Agreement by sending a written notiDication to the Company .
16.4. The Company may suspend or terminate this Agreement immediately by giving the Client a notiDication.
16.5. The Company retains the right to refuse a Client the opportunity to register for “Personal Area” service without explanation.
16.6. Termination of this Agreement will not abrogate any obligations held by either the Client or the Company regarding any outstanding transaction or any legal rights or obligations which may already have arisen under the Regulations, particularly relating to any open positions and deposit/withdrawal operations made on the Client's account.
16.7. Upon termination of this Agreement, all amounts owed by the Client to the Company must be settled immediately (but not limited to):
a. all outstanding fees, charges and commissions;
b. any expenses incurred by terminating this Agreement;
c. any losses and expenses sustained by the Company in closing out any transactions or in connection with any other of the Company’s obligations initiated or caused by the Client.
17. Terms and Interpretation
In this Agreement or any Regulations:
“Ask” shall mean the higher price in a quote. The price the Client may buy at.
“Bid” shall mean the lower price in a quote. The price the Client may sell at.
“FIX Protocol” shall mean the Financial Information eXchange (FIX) standard of exchanging information, developed especially for exchanging information on transactions involving Dinancial instruments in real-‐time. This protocol is maintained by the company FIX Protocol, Ltd. (http://www.Dixprotocol.org).
“Hedged margin” shall mean the amount required by the Company to open and maintain locked positions. The details for each instrument are in the contract speciDications.
“Storage” shall mean the charge for a position’s rollover overnight. Storage can be either positive or negative.
"Advance Payment" shall mean the deposit of funds by the Client to pay for future expenses.
“Base currency” shall mean the Dirst currency in the currency pair, against which the Client buys or sells the quote currency.
“Balance” shall mean the total Dinancial result of all completed transactions and deposit/withdrawal operations on the trading account.
“Bank Card" shall mean a plastic identiDication means that authorize its holder to pay for goods, services and get cash.
“Quote currency” shall mean the second currency in the currency pair which can be bought or sold by the Client for the base currency.
“Currency pair” shall mean the object of a transaction, based on the change in value of one currency against another.
“Website” shall mean Company’s website at www.traderglobal.com .
“Bank Card Holder" shall mean a person, whose information (Dirst name, last name and signature) is written on the card and who has an authority to operate the card account.
“Client’s External Account” shall mean the bank and/or electronic account of the Client or the Client’s authorized
representative.
“Long position” shall mean a Buy position that appreciates in value if market prices increase. Regarding currency pairs: buying the base currency against the quote currency.
“Request” shall mean the Client’s order to the Company to obtain a quote. Such a request shall not constitute an obligation to make a transaction.
“Fund Deposit“ shall mean the deposit of funds to a Client’s Account transferred by the Client or its authorized person to the Company’s Accounts.
“IdentiDication data” shall mean for individuals: passport data speciDied in the Client’s Registration Form.
“Indicative quote” shall mean a quote at which the Company shall not accept any instructions from the Client.
“Instrument” shall mean any currency pair.
“Client Account” shall mean a transitory account, trading account, partner account, manager’s account, investor’s investment accounts and other accounts opened by the Client at the Company.
“Client Terminal” shall mean the program or third party application which connects with the Server according to the FIX Protocol. It is used by the Client to obtain information on Dinancial markets (the extent is determined by the Company) in real-‐time, to perform technical analysis, make transactions, place/modify/delete orders, as well as to receive notices from the Company. These programs can be downloaded on the Website free of charge.
“Short position” shall mean a Sell position that appreciates in value if market prices fall. Regarding currency pairs: selling the base currency against the quote currency.
“Quote” shall mean the information on the current rate for a speciDic instrument, shown in the form of the Bid and Ask price.
“Credit“ shall mean the deposit of funds to a Client’s Account to perform trading operations. Credited funds cannot be withdrawn.
“Rate” shall mean the value of the base currency in the terms of the quote currency for a currency pair.
"Transitory Account" shall mean a Client's non-‐trading account to carry out deposit of advance payments.
“Account Management” shall mean the Client's personal page on the Company's website, access to which is protected by unique login and password. This secure zone, called “Account Management” on the Company’s website, is designed for the Client's identiDication, management of the Client’s accounts, for making records of operations, and providing informational support.
“Locked positions” shall mean long and short positions of the same size opened on a trading account for the same instrument.
“Lot” shall mean the abstract notion of the number of securities or base currencies in the trading platform.
“Margin Trading” shall mean trading using leverage, where the Client may make transactions of a certain size, while having signiDicantly less funds on its trading account.
“Initial margin” shall mean the margin required by the Company to open a position. The details for each instrument are in the Contract SpeciDications.
“Inactive Trading Account” shall mean a Client's trading account which has not had an open position, pending order, or transaction in a 6 month period.
“Necessary margin” shall mean the margin required by the Company to maintain open positions. The details for each instrument are in the contract speciDications.
“Spike” shall mean an error quote with the following characteristics:
a. a signiDicant price gap;
b. a price rebound in a short time period within a price gap;
c. absence of rapid price movement before its appearance;
d. absence of important macroeconomic indicators and/or corporate news of signiDicant effect before its appearance.
“Non-‐Trading Operation” shall mean any operation involving the deposit of funds, withdrawal from a Client’s Account or the provision (return) of Credit.
“Personal Area Number” shall mean the unique number assigned to each Client upon acceptance of this Agreement.
“Transaction size” shall mean the lot size multiplied by the number of lots.
“Transaction Day” shall mean a working day from Monday to Friday from 09:00 till 18:00 (GMT +4).
“Order” shall mean the Client’s instruction to the Company to open or close a position when the price reaches the order’s level.
“Open position” shall mean the result of the Dirst part of a completed transaction. In this case the Client shall be obliged to:
a. make a counter transaction of the same volume;
b. maintain equity no lower than the necessary margin level (This level may vary, depending on your account type. For more information, please refer to the "Trading Terms" page on our Company's website).
“Written NotiDication” shall mean an electronic document (including faxes, emails, internal mail on the client terminal etc.) or an announcement on the “Company News” page on the Company’s website. A written notice is considered to be received by the Client:
a. an hour once it has been sent to the Client's email address;
b. at the completion of transmission if sent by fax;
c. an hour after the news has been published in the “Company News” page on the Company's web-‐ site.
“Floating proDit/loss” shall mean non-‐Dixed proDit/loss on open positions at current market prices.
“Completed Transaction” shall mean two deals of the same size in different directions (open and close a position): buy in order to sell or sell in order to buy.
“Processing Center” shall mean a legal entity or its department that supports the informational and technological interaction between payment participants.
“Business Day” shall mean a working day from Monday till Friday.
“Company News page” shall mean the page on the Company's website where news is displayed.
“Lot size” shall mean the number of securities or base currency in one lot, as deDined in the contract speciDications.
“Instruction” shall mean the Client’s order to the Company to open/close a position or to place/modify/delete an order level.
“Internal Fund Transfer Request” shall mean an instruction given via the Client’s Personal Area on the Company website to withdraw funds from the Client’s Account to another Account open within the Company.
“Fund Transfer Request” shall mean an instruction given via the Client’s Personal Area on the Company website to withdraw funds from the Client’s Account to the Client’s External Account or to the Account of its Authorized person.
“Free margin” shall mean funds on the trading account which may be used to open a position. The formula to calculate free margin is: equity -‐ necessary margin.
“Server” shall mean all programs and technology used to process the Client’s Instructions and to carry out the Client's Orders, as well as presenting trading information in real-‐time, with consideration of the mutual obligations of the Client and Company in correspondence with the relevant Regulations.
“Screenshot” shall mean a digital image of the computer screen taken by operation system or a special software and showing the same picture as the Client or the Authorized Person sees on the monitor display.
“Contract SpeciDication” shall mean the principal trading terms (spread, lot size, minimum position volume, increment for changing position volume, initial margin, margin for locked positions etc.) for each instrument. SpeciDication in Russian is provided at www.traderglobal.com
“Funds Withdrawal” shall mean withdrawal of funds from the trading account and transfer them to the Client’s External Account or the Account of the Client’s Authorized Person, as speciDied in the “Funds Transfer Request”.
“Spread” shall mean the difference between the Ask and Bid prices expressed as a fraction.
“Client’s Account” shall mean a transitory account, trading account, partner account, manager’s account, investor’s accounts and other accounts opened by the Client at the Company.
“Company’s Account” shall mea bank and/or electronic account of the Company, as well as account of the Company in the processing center.
“Trading platform” shall mean all programs and technology that present quotes in real-‐time, allow the placement/modiDication/deletion of orders and calculate all mutual obligations of the Client and the Company. A trading platform consists of a server and client terminal.
“Trading account” shall mean the unique personiDied register of all completed transactions, open positions, orders and non-‐trading operations on the trading platform.
“Public Account” shall mean a trading account of the Client with the parameter of open information to other users of the system.
“Fund Deposit NotiDication” shall mean a notiDication sent via the Client’s Personal Area on the Company website to credit funds to the Client’s Account.
“Client’s Authorized Person” shall mean:
a. an individual over 18 years of age, citizen and/or tax resident of any country, except for those countries in which the Company does not offer the given service, authorized to perform or receive non-‐cash (bank and/or electronic) transfers on behalf of the Client, for the purpose of crediting funds to the Client’s Account or withdrawing funds from the Client’s Account;
b. a legal body or entity of another business legal structure, organized under the existing laws of any country, except for those countries in which the Company does not offer the given service, and located there, authorized to perform or receive a non-‐cash (bank or/and electronic) transfer on behalf of the Client for the purpose of crediting funds to the Client’s Account or withdrawing funds from the Client’s Account.
“Order level” shall mean the price indicated in the order.
“Security” shall mean any share, future, option, commodity, precious metal, interest rate, bond or stock index.
“Force majeure” shall mean lack of conformity of the terms and conditions of the Company and the terms and conditions of the counterparty, current market situation, possibilities of software or hardware of the Company or other situations which cannot be foreseen.
“Equity” shall mean the current composition of the trading account. The formula to calculate Equity is: Balance + Floating proDit -‐ Floating loss.
“Electronic Payment System” shall mean a payment system operating with electronic money.
TRADERGLOBAL LTD
Annex 1
Regulations for Trading OperationsThese Regulations shall govern all actions regarding the handling and execution of Client Instructions and Requests: principles of opening/closing positions, placing and executing market orders, and placing/modifying/deleting/executing Orders ; the Company’s actions in respect to the Client's Open Positions if the Margin Level on the Trading Account should be insufDicient to support such Open Positions; and procedures of dispute resolution and methods of communication between the Client and the Company.
All the terms and conditions which govern the Client's trading transactions are described in these Regulations, the Client Agreement and the Risk Disclosure documents and on the Company's website (www.traderglobal.com).
1. General Principles
1.1 The Company will recalculate Quotes for all trading instruments in real-‐times, based on market conditions and streaming prices/liquidity received from Liquidity Providers, and will periodically provide the Client with these Quotes as a market proDile (Market Snapshots). All Quotes the Client receives through the Web Platform are indicative and represent the best Bid and best Ask price available on the market according to Liquidity Providers.1.2 The Client acknowledges that: the Company has the right to not provide the Client with these Quotes if they have not changed since the previous Market Snapshot; the Client does not have access to all the Quotes in the Client Terminal that have been in the Quotes Flow between Market Snapshots; and Spread is not Dixed and may vary depending on market conditions and streaming prices/liquidity received from Liquidity Providers. All issues related to determination of the current price level on the marker are within the Company’s sole competence.
2. Procedure for Handling Client Instructions
2.1. The procedure for handling Client Requests and Instructions is as follows:
a. the Client gives an Instruction which is checked for validity within the Web Terminal;
b. the Web Terminal sends the Instruction to the Server;
c. if the connection between the Client Web Terminal and Server has not been disrupted, the Server receives the Instruction or Request and begins the veriDication process;
d. a valid Client Instruction is placed in a queue sorted by Instruction or Request arrival time;
e. as soon as the Company is ready to process a new Instruction, the Company takes the Dirst instructionfrom the queue;f. the Company sends to the Server the execution result of the Client's Instruction or Request;
g. the Server sends the result of the Client Instruction or Request to the Client Web Terminal;
h. if the connection between the Client Web Terminal and Server has not been disrupted, the Client Terminal registers the result of the Client Instruction or Request.
2.4. Each client Request or Instruction placed in the Queue has a set waiting period within which it must be executed. If a Request or Instruction has not been transmitted to the Company within this period of time, the Request or Instruction is deleted from the Queue and is no longer considered relevant. In this case, the Client must send a new Request or Instruction. The Company fulDills the Instruction as quickly as possible after having received it.
2.5. In the cases listed below, the Company has the right to decline a Client Instruction or Request, then a message “Off quotes” will appear in the Client Web Terminal:
a. at Market Opening;
b. if the Instruction or Request precedes the Dirst Quote in the Trading Platform;
c. if the Company is not able to hedge the trade with a Liquidity Provider; the Client's Free Margin level is less than the Initial Margin.
2.6 The Client shall only give Instructions through the Client Web Terminal. To avoid problems associated with the inability to open or close positions, we recommend using Pending Orders, as well as Stop Loss and Take ProDit orders.
3. Trading Operations, Rollover (Swap) and Commissions
3.1. The Ask price is used when making a “buy” Transaction. The Bid price is used when making a “sell” Transaction. Long Positions are opened at the Ask price. Short Positions are opened at the Bid price. The Bid price is used when closing a Long Position (i.e. sell). The Ask price is used to close a Short Position (i.e. buy).
3.2. The rollover of open positions to the next day begins at 23:59:45 (server time) and is carried out for all positions remaining open from 23:59:45 to 23:59:59 (server time). Positions are rolled over to the next day by either crediting or debiting the Client's trading account with an amount speciDied in the Contract SpeciDication.
3.3. Should there be an unforeseen break in the Server's Quotes Flow caused by software or hardware failure, the Company shall have the right to synchronize the Quote Base on the Server, serving real Clients, with other sources. If a disputed situation arises concerning a break in the Quotes Flow, all decisions will be made in accordance with the synchronized Quote Base.
3.4. The Client shall be obliged to pay the Company the commissions, charges and other costs as described on the Company's website. The Company may change commissions, charges and other costs without giving the Client prior written notiDication. All changes are displayed on the Company website.
3.5. Subject to compliance with all applicable rules and regulations, the Company shall not be under any obligation to disclose to, or provide the Client with, any report of beneDits, proDits, commissions or other remunerations made or received by the Company on any Client Transaction, unless otherwise agreed in this Agreement or the corresponding Regulations.
3.6. The Company may periodically act on the Client’s behalf in relations with parties with whom the Company or another afDiliated party has an agreement permitting the Company to receive goods or services in exchange for completing trading operations. The Company ensures that such arrangements shall operate in the best interest of Clients; for example, arrangements granting access to information or other beneDits/services which would not otherwise be available.
4. Leverage
4.1. The Company has the right to change the size of Leverage for a trading account in accordance with the margin requirements with immediate effect and no prior notice. The Company is entitled to apply new Margin Requirements to any new positions or positions that are already open. The Company has the right to change the Leverage for a particular Client at any time and at its sole discretion with prior written notiDication.
4.2. The Client is obliged to deposit and maintain the initial Margin and/or Hedged Margin in the amount speciDied by the Company. The size of the initial Margin and/or Hedged Margin is indicated on the Company’s site in the “Contract SpeciDication” section. The Company is not responsible for Stop Outs that occur as a result of funds not being transferred to the Client’s Account in a timely fashion.
4.3. The Company is entitled to change the size of initial or necessary margin:a. for all Clients, giving written notiDication 5 (Dive) calendar days before these amendments are introduced;b. individually for any Client to bring the leverage in line with the margin requirements designated on the Company’s website;c. individually for a Client in emergencies without prior notiDication;d. for all Clients in the case of a force majeure without prior notiDication.
4.4. The Client shall be responsible for maintaining the Necessary Margin level on the Trading Account.
4.5. The Company is entitled to close the Client’s open positions without consent or any prior written notiDication if the equity falls below 60% of the necessary margin.
5. Placing Market Order
5.1. To place a market order via the Web platform the Client must press the “Buy” or “Sell” button. The Client’s instruction to place a market order can be executed with the price different from the quote that the Client has received within the latest Market Snapshot in the following cases: if the current quote has changed since the latest Market Snapshot; if the quote form the latest Market Snapshot is applicable to the smaller transaction size than the size of the Client’s transaction.
5.2. The Client shall specify the following to give an Instruction to open a position: instrument name; a transaction size.
5.3. Once the Server receives the Client’s Instruction to place a market order, it automatically checks whether the free margin on the trading account is sufDicient to open the position: the new necessary margin for execution of the placed market order and used margin for open positions of the Client are calculated. In the case if the aggregate amount of used margin and margin necessary for open positions of the Client does not exceed the amount of free funds on the Client’s
trading account, the market order will be executed.
5.4. A market order shall be deemed executed once the corresponding record appears in the server log Dile.
5.5. Each open position in the trading platform is assigned with a unique number.
5.6. An Instruction to execute a market order shall be declined by the Company if it precedes the Dirst quote for this instrument in the trading platform at market opening.
6. Closing a Position
6.1. To close a position via the web platform the Client must press the “Close…” button. The Client’s order to close a position can be executed with the price different from the quote that the Client has received within the latest Market Snapshot in the following cases: if the current quote has changed since the latest Market Snapshot; if the quote form the latest Market Snapshot is applicable to the smaller transaction size than the size of the Client’s transaction.
6.2 To give an Order to close a position the Client shall specify the number of the positions to be closed.
6.3 The Client’s order shall be deemed processed and the position shall be deemed closed once the corresponding record appears in the server log Dile.
6.4 An order to close the position shall be declined if it precedes the Dirst quote for this instrument in the trading platform at market opening. An order to close the position shall be also declined if it occurs at the moment when the order for the position to be closed (Stop Loss or Tale ProDit) is in the queue for processing.
7. Pending Orders
7.1. The following types of pending orders may be placed in the Trading Platform:
a. “Buy Stop” – an Order to open a Long Position at a price higher than the price at the time the Order is placed;
b. “Sell Stop” – an Order to open a Short Position at a price lower than the price at the time the Order is placed;
c. “Buy Limit” – an Order to open a Long Position at a price lower than the price at the time the Order is placed;
d. “Sell Limit” – an Order to open a Short Position at a price higher than the price at the time the Order is placed.
e. “Stop Loss” – an Order to close a previously opened position at a price less proDitable for the Client than the opening price;
f. “Take ProDit” – an Order to close a previously opened position at a price more proDitable for the Client than the opening price.
7.2. The Client may only place, modify or delete pending orders within the trading hours for the relevant instrument. The trading hours for each instrument are indicated in the contract speciDication. Pending orders on instruments which are traded 24 hours a day have “GTC” (“Good Till Cancelled”) status and are accepted for an indeDinite period. Stop Loss and Take ProDit pending orders for closing positions on all instruments have “GTC” status (“Good Till Cancelled”) and are accepted for an indeDinite period.
7.3. To give an Instruction to place a pending order, the Client shall specify the following required parameters: instrument; order type (Buy Stop, Buy Limit, Sell Stop, or Sell Limit); order level.
7.4 In addition the Client may also set the following optional parameters:
a. Stop Loss level of the pending order. “0.0000” means that Stop Loss has not been placed (or has been deleted if it was placed earlier);
b. Take ProDit level of the pending order. “0.0000” means that Take ProDit has not been placed (or has been deleted if it was placed earlier);
7.5. The instruction will be declined if: any of the required parameters is not speciDied or is incorrect; any of the optional parameters is incorrect.
7.6. To give an instruction to place a Stop Loss or Take ProDit pending order, the Client shall specify the following required parameters:
a. Number of the open position for which these orders are placed;
b. Stop Loss level. “0.0000” means that Stop Loss has not been placed (or has been deleted if it was placed earlier);
c. Take ProDit level. “0.0000” means that Take ProDit has not been placed (or has been deleted if it was placed earlier).
7.7. An Instruction to place an Order shall be deemed executed and the Order shall be deemed placed once the corresponding record appears in the Server Log File. Each Pending Order is assigned with a Ticker.
7.8. An Instruction to place an Order shall be declined by the Company if it precedes the Dirst Quote for this Instrument in the Trading Platform at Market Opening.
7.9. To give an Instruction to modify Pending Order parameters , the Client shall specify the following required parameters:
a. unique number;
b. pending order level;
c. Stop Loss level. “0.0000” means that Stop Loss has not been placed (or has been deleted if it was placed earlier).
d. Take ProDit level. “0.0000” means that Take ProDit has not been placed (or has been deleted if it was placed earlier).
7.10. To give an Instruction to modify Stop Loss and Take ProDit Orders on an Open Position, the Client shall specify the following required parameters:
a. unique number;
b. Stop Loss level. “0.0000” means that Stop Loss has not been placed (or has been deleted if it was placed earlier).
c. Take ProDit level. “0.0000” means that Take ProDit has not been placed (or has been deleted if it was placed earlier).
7.11. To give an Instruction to delete a Pending Order, the Client shall specify its Ticker.
7.12. An Instruction to modify or delete an Order shall be deemed executed and the Order shall be deemed modiDied or deleted once the corresponding record appears in the Server Log File.
7.13. An Instruction to modify or delete an Order shall be declined by the Company if it precedes the Dirst Quote for this Instrument in the Trading Platform at Market Opening.
7.14. Should the processing of an Instruction to modify or delete an Order be completed only after the Order is placed in the Queue to be executed in accordance with clause 5.25., the Company shall have the right to cancel the modiDication or deletion of the Order.
7.15. The Order will be placed in the queue to be executed in the following cases:
a. A Take ProDit on an Open Long Position is placed in the Queue to be executed if the Bid price in the Quotes Flow becomes equal to or higher than the Order Level;
b. A Stop Loss on an Open Long Position is placed in the Queue to be executed if the Bid price in the Quotes Flow becomes equal to or lower than the Order Level;
c. A Take ProDit on an Open Short Position is placed in the Queue to be executed if the Ask price in the Quotes Flow becomes equal to or lower than the Order Level;
d. A Stop Loss on an Open Short Position is placed in the Queue to be executed if the Ask price in the Quotes Flow becomes equal to or higher than the Order Level;
e. A Buy Limit is placed in the Queue to be executed if the Ask price in the Quotes Flow becomes equal to or lower than the Order Level;
f. A Sell Limit is placed in the Queue to be executed if the Bid price in the Quotes Flow becomes equal to or higher than the Order Level;
g. A Buy Stop is placed in the Queue to be executed if the Ask price in the Quotes Flow becomes equal to or higher than the Order Level;
h. A Sell Stop is placed in the Queue to be executed if the Bid price in the Quotes Flow becomes equal to or lower than the Order Level.
7.16. Once a request to execute a pending order is received, the server automatically checks whether the free margin on the
trading account is sufDicient to open the position: if free funds is not sufDicient to execute the pending order, the order will be canceled. Order executions will be accompanied by a corresponding record in the server log Dile. An order is deemed executed once the corresponding record appears in the server log Dile.
7.17. Buy Limit, Sell Limit and Take ProDit orders may executed by the Company at the stated price or at the best price available at the moment of execution. In the case of insufficient liquidity on the order level, Buy Stop, Sell Stop и Stop Loss orders may be executed by the Company at the price available at the moment of execution. The Client consents that the price at which the order is executed may differ from the order level.
8. Stop Out
8.1. The Company is entitled to involuntarily close the Client’s Open Positions without the consent of the Client or any prior notice if the level of Equity in relation to the Margin on the trading account breaches the Stop Out level. The Stop Out level is indicated on the Company’s website.
8.2. The Client agrees that the price at which the Order is executed may be different from the Quote at which the Stop Out Instruction was generated. A forced close of a position is accompanied by a corresponding note in the “Log File” marked as “Stop-‐Out.”
8.3. Should the Client have several Open Positions, the Dirst position to be placed in the Queue for involuntary closure is the position with the highest Floating Loss. Should the execution of Stop Out result in negative Equity on the Client’s Trading Account, the Client shall bear full responsibility for such loss and shall undertake to pay off immediately a full loss amount.
8.4. The Company shall have the right to forcefully close any Open Positions of the Client without prior notiDication should it be required when handling a Dispute.
9. Copying Transactions and Rendering Provider Services
9.1 Any of the public accounts, both real and demo-‐accounts, may be the object of copying for any of the registered users. The copy tools are selected by the user, who carries out copying.
9.2 Copying may be carried out using a multiplier, alongside with setting restrictions on use of margin. The copying process may include reverse copy and execution of transactions opposite to the copy source by setting the relevant parameters.
9.3 Copying each transaction is carried out from the moment of opening a position by the client being a provider, up to the moment of closing a transaction by the provider, not including copying orders for these transactions. The Client who carries out copying may independently place orders for open transactions being copied, limiting losses by stop-‐loss order or anticipated proDits by take-‐proDit order, which may be different from orders, placed by the transaction provider. Whereat the transaction shall be closed by condition, occurred earlier. The user may independently at any time close transactions, opened through copying.
9.4 For copying transactions, the user shall pay a fee in the amount of one item from each transaction, when the position is closed.
9.5 The provider for each copy of its transactions on the real accounts receives remuneration in the amount of 0.9 items for the full transaction if the copy is made on the real account and 0.4 items if the copy is made on the demo account. For incomplete transaction (only open positions) half remuneration shall be paid.
9.6 The fees and remunerations are displayed in the transaction parameters and trade statistics.
9.7 Disconnection as well as connection to transactions providers is carried by the Client on its own at any time.
10. Communications
10.1. In order to communicate with the Client, the Company may use email; facsimile transmission; telephone; post; the Company’s website. The Company will use Client contact details as speciDied when opening an account. The Client shall agree to accept any correspondence from the Company at any time.
10.2. Any communications sent to the Client (documents, notices, conDirmations, statements etc.) are deemed received by the Client:
a. if sent by email, within one hour after emailing it;
b. if sent by Trading Platform internal mail, immediately after sending it;
c. if by telephone, then once the telephone conversation has been Dinished;
d. if sent by post, seven calendar days after posting it; if posted on the Company Webpage, within one hour after it has been posted.
10.3. The Client shall notify the Company immediately of any change in the Client's contact details.
10.4. The Client acknowledges that any telephone conversation between the Client and the Company may be recorded magnetically or electronically. Such recordings shall be and will remain the sole property of the Company and constitute evidence of the Client’s Instructions.
10.5 The Client consents that the Company may provide these records to the Court, regulatory institution or governmental body.
11. Procedure for Dispute Resolution
11.1. Should any Dispute arise where the Client reasonably believes that the Company, as a result of any action or failure to act, breaches one or more terms of these Regulations, the Client shall have the right to lodge a complaint with the Company. Complaints should be received by the Company within two Business Days of the grievance arising.
11.2. A complaint must include:
1. the Client’s name and surname;
2. the Client’s login to the Trading Platform;
3. the date and time of the complaint’s origin (Trading Platform time);
4. Tickers of all disputed positions and/or Pending Orders;
5. a description of the Dispute, supported by reference to clause/clauses of these Regulations that were breached.
11.3. The complaint must not include: emotional appraisal of the Dispute; offensive language; obscenities or expletives.
11.4. The Server Log File shall be the main source of information in the case of any Dispute. Information from the Server Log File has absolute priority over all other arguments in consideration of the Dispute, including the Client Web Terminal Log File, as the Client Web Terminal Log File does not register every stage in the execution of Client Instructions or Requests. Should there be no relevant record in the Server Log File supporting the Client’s grounds for the complaint, an argument referencing the existence of such a record shall be considered invalid.
11.5. The Company may resolve all Disputes by:
a. crediting/debiting compensation to/from the Client’s Trading Account;
b. reopening erroneously Closed Positions;
c. deleting erroneously Opened Positions or placed Orders.
11.6 Dispute resolution shall be at the sole discretion of the Company, who in each case shall have the right to choose one of the methods described above.
11.7 Disputes not covered under these Regulations shall be resolved in accordance with common market practice and the Company’s judgment on a fair resolution of the Dispute.
11.8. The Company shall not be liable to the Client if, for any reason, the Client has received less proDit than the Client had hoped for or has incurred a loss as a result of an uncompleted action which the Client had intended to complete. The Company shall not indemnify the Client for any circumstantial or non-‐pecuniary damage (including emotional distress etc.).
11.9. The Compliance Department shall consider Client’s complaint as soon as reasonably practicable, but in any case, within Dive Business Days after the grievance has arisen. In some situations, the complaint consideration process may be extended.
11.11 The Client acknowledges not being permitted to lodge a complaint concerning their inability to manage the disputed position while the position is being reviewed and steps taken towards its resolution.11.12 The Client acknowledges that the Company will not notify the Client that the Dispute has been resolved and the position has been reopened and the Client will be responsible for all the risks in this respect.11.13. If the Client has been notiDied of routine maintenance on the Server in advance by Trading Platform internal mail or any other method, complaints Diled concerning any unexecuted Instructions given during such maintenance shall not be
accepted. The fact that the Client did not receive a notiDication shall not constitute grounds for a complaint.
11.14. No Client complaints will be accepted in respect of the cancellation of Dinancial results from deals made using temporary excess Free Margin on the Trading Account gained as a result of a proDitable position (subsequently cancelled by the Company) opened at an Error Quote (Spike) or at a Quote received as a result of a Manifest Error.
11.15. Any references made by the Client to Quotes of other companies or informational systems during the process of reviewing the Dispute are irrelevant and shall not be taken into account.
11.16. In accordance with these Regulations both the Client and the Company have the right to launch an inquiry or resolve a dispute.
TRADERGLOBAL LTD
Annex 2
Regulations on Non-‐Trading Operations
1. General Terms
1.1. These Regulations on Non-‐Trading Operations have been developed within the framework of International cooperation measures aimed to Dight against Dinancial irregularities, expose and prevent law violations, and set principles for performing non-‐trading operations on a Client’s Account with TraderGlobal LTD (hereinafter referred to as “Company").
1.2. The Financial Monitoring Department (hereinafter referred to as “Department”) will exercise control over the implementation of these Regulations within the Company.
1.3. The Client shall undertake the following obligations:
13.1 To comply with legal standards aimed to combat trafDicking, money laundering and legalization of money, obtained by illegal means, including international.
1.3.2 To exclude a direct or indirect aiding illegal Dinancial activities, the conduct of Dinancial machinations, as well as other actions, which are contrary to international law and legal norms.
1.3.3 Not to allow in its actions on Account Management page any action, the implementation of which may cause direct or indirect damage to combating money-‐laundering and legalization of money obtained by illegal means.
1.3.4 To guarantee the legal source, lawful possession and right to use the funds being transferred to the Company’s Accounts (hereinafter referred to as “Client Account”, “Client’s Accounts").
1.4. The Company reserves the right to investigate the nature of any suspicious non-‐trading operations, whereupon such operations will be suspended until the reasons for their occurrence are clariDied and the investigation is completed.
1.5. During the course of an investigation, in accordance with clause 1.4. of these Regulations, the Department shall have the right to request that the Client provide proof of identity, payment and other documents conDirming the lawful possession and legal source of the funds.
1.6. If suspicious non-‐trading operations should be exposed, the Company shall have the right to:
• refuse to perform these operations;• limit fund withdrawal from the Client’s Account through any method at the Company’s discretion;• return any funds deposited earlier from the Client’s Account to any requisites from which the deposit was made to
this account;• write off any indemniDied commissions or bonuses owed to the Client for non-‐trading operations, charges for
account management;• terminate relations with the Client;• to close open positions of the Client recording the Dinancial result;• to lock access to Account Management page until entire elimination of the circumstances that made the operation
look suspicious.1.7. Refusal to perform suspicious non-‐trading operations or termination of relations with the Client as a result of suspicious non-‐trading operations performed by the Client shall not warrant the imposition of civil liability upon the Company for a breach of concluded agreements.
1.8. The Company shall have the right to amend at its sole discretion the terms of these Regulations at any time giving the Client 3 (three) business days prior notiDication in one or more of the ways described in clause 3.1 of these Regulations. Such amendments will become effective on the date speciDied in the notiDication.
1.9. These Regulations are transparent and are an integral part of any agreement concluded between the Company and the Client.
1.10.In the case that certain clauses of these Regulations do not correspond to certain clauses of the Client Agreement or the corresponding Regulations, the clauses of these Regulations shall prevail. This circumstance shall not render other terms of the aforementioned documents invalid.
2. Detection Criteria and Characteristics of Suspicious Non-‐Trading Operations.
2.1. The Department can declare a non-‐trading operation suspicious in the event of:
• exposure of abuse of transfers (deposit and (or) withdrawal operations) without completing trading operations on the trading account;
• revelation of unusual nature of operations that do not have obvious economic substance or obvious legal purpose;• revelation of circumstances implying that the operations are performed for the purpose of money laundering or
Dinancing terrorism;• failure of the Client to provide identiDication information, submission of inaccurate information and/or the
impossibility to contact the Client at the addresses and telephone numbers speciDied;• submission of false or invalid documents;
2.2. The operations speciDied shall be detected by subjective evaluation of Department employees through a daily analysis of non-‐trading operations.
2.3. The criteria for detection and characteristics of suspicious non-‐trading operations speciDied in clause 2.1. are neither mandatory nor comprehensive. The Department can declare a non-‐trading operation suspicious on the basis of analysis of the nature of a non-‐trading operation, its components, attending circumstances and interaction with the Client or the Client’s representative.
2.4. In the case that suspicious non-‐trading operations are exposed, the decision made regarding further actions in relation to the Client and non-‐trading operations shall be at the sole discretion of the Department.
3. Communications
3.1. In order to communicate with the Client, the Company may use:
a. email;
b. facsimile transmission;
c. telephone;
d. post;
e. news in the “Company News” section on the Company’s website;
f. notiDications in the Account Management page.
3.2. For operative communication with the Client the Company will use the Client's contact details, speciDied when registering or updated in accordance with clause 3.4 of these Regulations. The Client shall agree to accept any notiDications from the Company at any time.
3.3. Any communications sent to the Client (documents, notiDications, conDirmations, news, statements, etc.) are deemed to be received by the Client:
a. if sent by email, within 1 (one) hour after emailing it;
b. if sent by fax, at the completion of transmission;
c. if by telephone, once the telephone conversation has been Dinished;
d. if sent by post, 7 (seven) calendar days after posting it;
e. if posted on the “Company News” webpage, immediately after the news is published;
f. if on Account Management page, immediately after the notiDication is published.
3.4. The Client shall notify the Company immediately of any change in the Client's contact details either by updating the information in Account Management page or through any other method offered by the Company.
3.5. The Client understands and accepts that the Company reserves the right to terminate relations with the Client
unilaterally shall the Client behave inappropriately in communications with a Company employee.
3.6. Every non-‐trading operation of a Client shall be conDirmed by a log in the “Payment History” on the Account Management page. If the Client has reason to believe that the log is inconsistent, the Client shall have the right to lodge a complaint in accordance with clause 9 of these Regulations.
3.7. If the Client has reason to believe that there has been a mistake in their own favor in the log, the Client is obligated to inform the Company Payments Department (hereinafter referred to as the “Payments Department”) about the mistake as soon as possible using the contact information provided on the “Contacts” page of the Company website.
4. Depositing Funds to the Client's Account.
4.1. Transfer of funds to the Company Account shall meet the requirements and take into account restrictions established by the laws in force and other legal acts of countries within the jurisdiction of which the fund transfer takes place.
4.2 The Client may only be rendered Company services at the expense of funds available on the Client’s Account. Funds can be deposited to the Client Account by transferring the funds to the Company Accounts or to accounts of Agents authorized by the Company. The list of authorized Agents and their banking details are located on Account Management page.
4.3 The Client is obliged to check the Company’s bank details in the Personal Area before each transfer. The Client shall bear a sole responsibility for correctness of payments transferred by him/her, including from the moment of publishing such details on the Company's website, in the case the payment was made according to stale data.
4.3. The Company will credit the sum deposited to the Company Account to the Client’s Account. The Client understands and accepts that any commissions or other charges, i.e. commissions and other charges (in accordance with the table of charges) of the paying banks, correspondent banks, electronic payment systems or processing centers involved in the transfer of funds, incurred by the funds transfer method selected by the Client shall be at the Client’s expense.
4.4. Funds shall be credited to the Client’s Account in the deposit currency, regardless of the currency in which the transfer is made. If the transfer currency differs from the deposit currency, the transfer amount shall be converted into the deposit currency using the exchange rate as published in Account Management page at the moment the funds are credited to the Company’s account.
4.5. Currencies accepted by the Company for credit to the Client’s Account, dependent on the deposit currency and Deposit method, are indicated on Account Management page.
4.6. Exchange rates and fees, as well as other charges for each fund deposit method, are published on Account Management page and on the website and are subject to change by the Company.
4.7. The Company shall have the right to impose restrictions on minimum and maximum deposit, differentiated by the deposit method and transfer currency.
4.8. The Company shall be obliged to not charge any additional commission for crediting funds to the Client’s Account, except for the commissions and other expenses described in these Regulations.
4.9. Funds, not related to compensation payments, will be credited to the Client’s Account if:
a. funds, transferred by the Client, are credited to the Company Account speciDied on Account Management page in the “Company Details” section;
b. funds are transferred to the Client’s Account from another Account the Client has open with the Company;
c. funds which had been transferred to the Client are returned to the Company Account and the Company is unable to contact the Client in order to resolve the problem and resend the funds.
4.10. Unless directly related to compensation payments, funds shall be credited to the Client’s Account on the basis of a Deposit NotiDication (hereinafter referred to as the “NotiDication”). The NotiDication shall be considered accepted by the Company if it is displayed in the “Payment History” of Account Management page and in the Company’s records of client requests.
4.11 Funds shall be credited to the Client’s Account within 1 (one) transaction day, but no later than at the end of the transaction day after the day funds were credited to the Company Account.
4.12. If funds sent through bank transfer have not been credited to the Client’s Account within 5 (Dive) business days, the Client shall have the right to request that the Company make a bank inquiry on the transfer. The Client understands that the bank inquiry may involve paying commission (in accordance with tariffs of the bank), which shall be at the Client’s expense. The payment method for such expenses shall be determined on an individual basis and may be carried out through transferring the necessary amount to the Company Account or by deducting the amount from the Client’s Account.
4.14. To make an inquiry on a bank transfer, the Client shall make a request in accordance with clause 9 of these Regulations and provide the Payments Department with the following documents:
a. for an inquiry on a bank transfer in currency other than RUR: a SWIFT copy conDirming the bank transfer’s execution;
b. for an inquiry on a RUR bank transfer: a copy of the payment order, conDirming the bank transfer’s execution in the currency of the Russian Federation, provided by the bank.
4.15. If funds sent by an electronic transfer or by Bank Plastic Card via the Processing Center are not credited to the Client’s Account within 2 (two) transaction days, the Client shall have the right to request that the Company make a bank inquiry on the transfer. The Client understands that the bank inquiry may involve paying commission (in accordance with tariffs of the bank), which shall be at the Client’s expense. The payment method for such expenses shall be determined on an individual basis and may be carried out by transferring the necessary amount to the Company Account or by deducting the amount from the Client’s Account.
4.16.To make an inquiry on an electronic transfer or a Bank Plastic Card transfer via the Processing Center, the Client shall make a request in accordance with clause 9 of these Regulations and provide the Payments Department with the following documents:
a) for an inquiry on an electronic transfer: a screenshot of the transfer or payment notiDication in the payment system, conDirming the fact of the transfer to the Company Account;
b) for an inquiry on a Bank Plastic Card transfer via the Processing Center: proof of identity and a copy of the Bank Plastic card.
4.17 The Client may only carry out a bank transfer to the Company Account speciDied on Account Management Page only from the Client’s own bank account or may execute the payment on its own behalf (without opening a bank account). The Client may make an electronic transfer to the Company Account from the Client’s own electronic account or from the electronic account of the Client’s Authorized Person.
4.18 The Company shall have the right to deny the deposit of funds transferred to the Company Bank Account if the purpose of payment different from the data speciDied on the Account Management page. In this case, the Company shall return the funds back to the bank account from which they have been transferred. All costs incurred by returning the funds shall be at the Client’s expense.
4.19 In the case the transfer was made from the bank plastic card of the third party the Company shall have the right to request documents conDirming the third party consent to execute the operation of depositing the Client's account, proof of identity of the third party, and the scanned image of the plastic card. CVV2/cvc2 and digits should be hidden excluding Dirst six and last four digits. In the case these documents are not provided or the Company has grounds to consider these documents invalid, the Company shall have the right to return the payment to the account from which it was made.
4.20 The Client understands and accepts that the Company shall not bear any responsibility for the time required to execute an electronic transfer or for circumstances resulting in technical failure when making a transfer which occur not at the fault of the Company.
4.20 The Company credits to the Client's account a sum deposited to the Client's Account. The Client understands and
accepts that any commissions or other charges associated with the transfer method chosen by the Client shall be at the Client’s expense.
5. Withdrawal of Funds from the Client’s Account
5.1. The Client shall have the right to withdraw funds from the Client’s Account at any time by sending the Company the “Withdrawal Request” or the “Internal Fund Transfer Request”, to another account belonging to the Client, containing the Client's instruction to withdraw funds from the Client’s Account or an instruction to transfer funds to another of the Client’s Accounts with the Company, and fulDilling the following requirements:
a. the instruction is executed solely within the limits of the free margin on the Client’s Account at the moment of order execution in accordance with charges determined by the Company for account management. The execution of an instruction on different types of Client Accounts open within the company is carried out within the limits of the Client’s Account balance. If the sum the Client wants to withdraw (including commissions and other charges under these Regulations for payment execution) exceeds the size of the free margin on the Client's trading Account or the balance on other types of Accounts the Client has open in the Company, the Company shall have the right to decline this instruction explaining the reason for declination;
b. the Client's instructions for fund withdrawal from an Account shall meet the requirements and take into account restrictions established by the laws in force and other legal acts of countries within the jurisdiction of which the fund transfer takes place.
The Client’s instructions for fund withdrawal from the Client’s Account should be in accordance with the requirements and heed the restrictions set out in these Regulations and all other documents signed between the Client and the Company.
5.2. Execution of a “Withdrawal Request” to the Client’s External Account may be carried out by an Agent authorized by the Company. A list of authorized Agents shall be placed in Personal Area.
5.3. The Client shall Dill out the “Withdrawal Request” or the “Internal Fund Transfer Request” to another account of the Client in the deposit currency. If the deposit currency differs from the transfer currency, the transfer amount shall be converted into the transfer currency using the exchange rate as published on Account Management page at the moment the funds are debited from the client’s account.
5.4. Currencies available for transfer to the Client's External Account, dependent on the deposit currency and withdrawal method, are indicated on Account Management page.
5.5. Exchange rates and fees, as well as other charges for each fund withdrawal method, are published on Account Management page and on the Company’s website and are subject to change by the Company at any time.
5.6. The Company shall have the right to impose restrictions on minimum and maximum withdrawal, differentiated by the withdrawal method and transfer currency. These restrictions shall be published on Account Management page in the Client’s Personal Area.
5.7. The Client understands and accepts that any commissions or other charges (in accordance with tariffs of bank, payment systems, processing centers) associated with the transfer method chosen by the Client shall be at the Client’s expense.
5.8. The Company shall be obliged to not charge any additional commission for withdrawing funds from the Client’s Account, except for the commissions and other expenses described in these Regulations.
5.9. Funds shall be withdrawn from the Client's Account once the Company receives the “Withdrawal Request” or the “Internal Fund Transfer Request” to another account belonging to the Client.
5.10.An instruction shall be considered accepted by the Company if it was Dilled out on Account Management page and is displayed in the “Payment History” of Account Management page and in the Company’s records of client requests.
5.11.Instructions Dilled out in any other way than speciDied in clause 5.10. shall not be executed by the Company.
5.12.Funds shall be withdrawn from the Client's Account within 1 (one) business day but no later than the end of the transaction day after the day the “Instruction to Withdraw Funds” is received.
5.13.If funds sent through bank transfer have not been credited to the Client’s Account within 5 (Dive) business days, to the WebMoney, QIWI, YandexMoney accounts or to the bank plastic card account within 2 (two) days, the Client shall have the
right to request that the Company make a bank inquiry on the transfer. The Company may provide the Client with a document to conDirm the transfer of funds:
• for an inquiry on a bank transfer in currency other than RUR: a SWIFT copy conDirming the bank transfer’s execution;
• for an inquiry on a RUR bank transfer: a copy of the payment order, conDirming the bank transfer’s execution in the currency of the Russian Federation.
• for an inquiry on transfer by bank card: a screenshot conDirming the transfer of funds to the Client's Account.
5.15.The Client understands that the bank inquiry and request for documents may involve paying commission, in accordance with the tariffs of the paying bank, chosen by the Client to execute funds transfer, which shall be at the Client’s expense. The payment method for such expenses shall be determined on an individual basis and may be carried out through transferring the necessary amount to the Company Account or by deducting the amount from the Client’s Account.
5.16.If a Company employee should make a mistake when carrying out a transfer, which results in funds not being credited to the Client’s External Account, the sum of the request shall be indemniDied to the Client at the Company’s expense.
5.17.If the Client should make a mistake when Dilling out the “Withdrawal Request”, which results in funds not being credited to the Client’s External Account, the sum of the request shall not be indemniDied to the Client.
6. Usage of the Account Management Page
6.1. The Client agrees with the clauses of these Regulations concerning usage of Account Management page.
6.2. When registering on the Company website, the Client shall provide accurate and valid information to identify themselves in accordance with the requirements of the Client Registration Form on the Company website.
6.3. After successfully registering on the Company website, the Client shall open a Transitory Account to carry out advance payments on Company services.
6.4. The Client shall inform the Company about changes in identiDication information in due time.
6.5. To identify the Client, the Company shall have the right to request proof of identity at any time from the moment the Client registers. The Company reserves the right to suspend execution of non-‐trading operations on the Client’s Account if it is discovered that the Client’s identiDication information is incorrect or false, as well as in the case that the Client does not provide the required documents.
6.6. Account Management page is password-‐protected.
6.6.1. The Client conDirms and agrees that Account Management page is password-‐protected.
6.6.2. The Client shall take full responsibility for the security of their password and its protection from unauthorized access by third parties.
6.6.3. All instructions completed through Account Management page after entering the password are considered to be executed by the Client.
6.6.4. Any party who has gained access to Account Management page by entering the password shall be considered to be the Client.
6.6.5. The Company shall not be responsible for any losses endured by the theft, loss or disclosure of the password to third parties.
6.7. The Client shall have the right to change the password to Account Management page individually or follow the password recovery procedure.
6.8. The Client will see in successive order the following request statuses on Account Management page once a Fund Deposit NotiDication has been sent:
a. The “Processing” status means that the funds have been transferred to the Company Account;
b. The “Funds deposited to account” status means that the funds have been deposited to the Client’s Account.
6.9. The Client will see in successive order the following request statuses on Account Management page once an “Withdrawal Request” or an “Internal Fund Transfer Request” is sent:
a. The “Processing” status means that the instruction has been received by the Company;
b. “Funds sent” status means that the funds have been transferred to the Client’s External Account that was speciDied in the instruction;
c. The “Denied” status means that the instruction has been denied by the Company. The reason the instruction has been refused is in the comments to the instruction.
6.10.The “Fund Deposit NotiDication”, “Withdrawal Request” and “Internal Fund Transfer Request”, which are Dilled out on Account Management page, may be changed or canceled by the Client before they are executed.
6.11.The “Fund Deposit NotiDication”, “Withdrawal Request” and “Internal Fund Transfer Request”, which are Dilled out in Account Management page, may be denied by Company employees, specifying the reason for refusal.
7. Inquiries and Dispute Resolution
7.1. If any dispute should arise, the Client shall have the right to lodge a complaint with the Company or send a request for an inquiry. Complaints and requests should be received by the Company within 5 (Dive) business days of the grievance arising.
7.2. To lodge a complaint, the time when the dispute arises shall be considered the moment when the log appears in the “Payment History” of Account Management page. To send a request, the time when the dispute arises shall be considered the moment as described in clauses 4.13, 4.15 and 5.13 of this Annex.
7.3. To Dile a request to make an inquiry into a transfer, the Client shall:
a) correctly complete the standard form in the “Payment History” of Account Management page. All requests Diled through any other method (forum, email, telephone, etc.) will not be taken under consideration.
b) attach the documents speciDied in clauses 4.14. and 4.16, to the complaint form on Account Management page.
7.4. To Dile a complaint on non-‐trading operations, the Client should complete the standard form in Complaints section on Account Management page. All complaints Diled through any other method (forum, email, telephone, etc.) will not be taken under consideration.
7.5. Any complaint or request Diled in accordance with clauses 7.3. and 7.4. is automatically assigned a unique number (TID). The Client shall receive this conDirmation sent from the Company’s email (payments@traderglobal.com).
7.6. The complaint must not include: emotional appraisal of the dispute; offensive language towards the Company; obscenities or expletives.
7.7. The Company shall have the right to request that the Client provide additional documents to make an inquiry.
7.8. The Company shall have the right to refuse a complaint if clause 7 of these Regulations has been breached.
7.9. If the Client is not satisDied with the result of the Company’s review of a disputed situation, the Client may appeal to the relevant authorities in accordance with the laws of Saint Vincent and the Grenadines.
TRADERGLOBAL LTD
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