Terms and Conditions Version 3.1 2024
Terms and Conditions Version 3.1 2024
Terms and Conditions Version 3.1 2024
CONDITIONS
TERMS AND CONDITIONS
Table of Contents
PART 1. INTRODUCTION
2
PART 2. DEFINITIONS
4
PART 3. GENERAL
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1.1 These Terms and Conditions (the “Terms”) are o ffered to our clients (“you”,
incorporated in The Bahamas with registration number 209236B, and having its
registered office and place of business at Building #3, Bayside Executive Park,
Blake Road & West Bay Street, P. O. Box CB-12407, Nassau, New Providence,
Office Address:
Poinciana House - North Building, 2nd Floor, 31A East Bay Street, P.O. Box N
Telephone Number:
Email: info@scb.gov.bs
The Company shall carry on Securities Business (the “Services”) under the
between you and the Company. The Terms may be amended from time-to-
time. In case of material changes, the Client will receive proper notification.
understand the Terms and any other information published on our official
domain names used, stays the contractual counterparty to the Client under
these Terms.
By opening an account with us, the Client confirms that he/she has read,
website.
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1.2 If you visit our Website, our Privacy Policy and Cookies Policy shall apply
to you. You agree that if you are a visitor, you can place orders on the
CAPITAL.COM Online Trading Platform only after you have applied to
become our Client and provided that we accept you as our Client.
1.3 The Terms set out the basis on which we will enter into transactions with
you and govern every Transaction entered into or outstanding between you
and us on or after the Terms come into effect. You understand that the main
purpose of opening a CFD account with us is for speculative trading or
hedging purposes.
1.4 Our Electronic Services involve trading CFDs and carry a high level of risk
that can result in you losing all of your invested capital. Our CFD trading is
not suitable for everyone. An explanation of some of the risks associated
with our CFD trading is set out in the Risk Disclosure Statement. You should
ensure that you fully understand such risks before entering into any
transactions with us. For more information, please refer to Part 19 below.
1.5 Once you are accepted as our Client, these Terms, together with the
provisions of the supplementing policies and/or Annexes herein (as
applicable and as amended from time to time, altogether hereafter referred
to as "the Policies"), which can be found on our Website and mobile app,
constitute a legally binding contract between us, as well as include
important information which, as a Registered Firm authorised to carry on
Securities Business, we are required to provide to our Clients under the
Applicable Laws and Regulations. You should read carefully all of these
terms and any other documents that we have supplied or will supply in the
future to you. If there is any conflict between these Terms and the Policies,
the provisions of these Terms will prevail.
1.6 These Terms supersede any previous agreement between you and us on
the same subject matter and take effect when you indicate your
acceptance via our Website or mobile app. These Terms shall apply to all
Transactions contemplated under these Terms.
1.7 Nothing in these Terms will exclude or restrict any duty or liability owed
by us to you under the Applicable Regulations. If there is any conflict
between these Terms and the Applicable Laws and Regulations, the
Applicable Laws and Regulations will prevail.
1.8 These are our standard Terms which we intend to rely on to govern our
relationship with you. For your own benefit and protection, you should read
the Terms carefully before agreeing to them. If you do not understand any
point in any of the documents making up the Terms,
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please ask for further information at the Contact Us page on our Website.
This page is also available through the Help menu on our mobile app.
1.9 The business relationship shall commence upon acceptance of the Terms
via selecting the relevant box in the client account opening process. It shall
be noted that we charge no payment or fee for the execution and
commencement of these Terms.
1.10 Where these Terms have not been terminated, they will continue to be
in effect until their termination by either party, in accordance with the
provisions contained herein.
PART 2. DEFINITIONS
2.1 In these Terms:
Act means the Securities Industry Act 2011 as amended from time-to-time.
Account means the personal trading account you hold with us and
designated with a particular account number used for the purposes of
trading on any trading platform used by the Company either online or
through the Company's mobile application. You are permitted one Account,
unless explicitly obtaining prior consent from the Company.
Account Codes means the username and password given by the Company
to the Client for accessing the Company's electronic systems.
Applicable Laws and Regulations means:
b. all other applicable laws, rules and regulations that are in force from time
to time.
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Associate means an undertaking within our group, or a representative whom
Base Currency means either the official currency of the United States of
America (the "USD"), or the official currency of the Eurozone (the "EUR"), or
the official currency of the United Kingdom (the "GBP") or any other currency
time.
premises.
209236B, having its registered office at The Bahamas Financial Centre, 3rd
Floor, Shirley and Charlotte Streets, P.O. Box N-4865, Nassau, New
Equity means the aggregate of (i) the Balance; and (ii) unrealized profit or
loss on open positions (after the deduction of any charges and the
Client means the individual person, legal entity, or firm being a customer of
the Company.
Client Money Rules means the rules specified in regulation 88(2) of the SIR
and Article 26 of the Rules and any other rule, guidance, regulation, or law
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Contract for Difference means in accordance with the Act under Part 1,
and that must be settled in cash or may be settled in cash at the option of
event; or
Commission.
Deposit means the funds deposited and/or transferred by our clients into
Event of Default means any of the events of default listed in Part 14 (Events
of Default).
Client's Transaction.
available for trading underlying assets as defined in the Act under Part 1 of
multiple, such as 2:1, 10:1, 20:1 or higher. It, shows how many times the size
Margin means the amount of funds requires the size of the trade/position
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Margin Level is a metric that expresses the ratio of the equity to the used
Market Abuse is an umbrella term used for situations where traders and
Rules mean the Securities Industry (Contracts for Differences) Rules, 2020, as
activities set out in Part 2 of the First Schedule of the Act as amended from
time to time and/or any other applicable laws or regulations in this respect,
Secured Obligations means the net obligation owed by you to us after the
Spread means the difference between the purchase price ASK (rate) and
the sale price BID (rate) at the exact moment for the same financial
instrument.
Services mean the services provided by the Company to the Clients while
SIR means the Securities Industry Regulations, 2012 as amended from time
to time.
Sub-Account means the accounts opened under the main Account of the
Client.
facilities and other resources and, facilities needed to enable you to use an
Electronic Service.
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Swap Free Accounts means that the Company offers Swap-Free accounts
to clients who cannot use a regular account due to their religion, faith, or
beliefs. For any further clarifications, please see Annex 1 of this agreement.
Terms means the present Terms and Conditions.
TIN (including functional equivalent) means Taxpayer Identification Number
or a functional equivalent in the absence of a TIN. A TIN is a unique
combination of letters or numbers assigned by a jurisdiction to an individual
or an entity and used to identify the individual or entity for the purposes of
administering the tax laws of such jurisdiction. Additional details can be
found at the following link: http://www.oecd.org/tax/transparency/
automaticexchangeofinformation.htm
b.
a US resident alien for tax purposes;
c.
a domestic partnership;
d.
a domestic corporation;
e.
any estate other than a foreign estate;
ii.
one or more United States persons have the authority to control all
substantial decisions of the trust;
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PART 3. GENERAL
3.1.2 CAPITAL.COM carries out Securities Business activities with CFDs and
other financial instruments as defined by these terms. The Company
provides its Electronic Services to its Clients via the CAPITAL.COM Online
Trading Platform.
3.1.3 The Company shall provide the Services strictly under the Terms. These
terms may be amended from time to time after proper notification has been
given to the counterparty (hereafter the “Client”) via the mobile app and
displayed on the website of the Company. The Client thus undertakes that
they have read, understood, and unconditionally accepted all information
published on the Company’s official website.
3.2 Language
These Terms are supplied to you in English and we will continue to
communicate with you in English for the duration of these Terms. By
accepting these Terms you consent and confirm that our official language is
English. We will have the discretion to communicate with you in other
languages besides English. The provision of any information, including
marketing material and any other communication, in a language other than
our official language, is provided solely for your convenience, purposes and
the legally binding version shall be the English language version of such
documentation. Thus, in the event of a dispute, the English version shall
prevail.
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3.3.2 Our website and mobile app contain further details about us and our
Electronic Services, and other information relevant to these Terms. In the
event of any conflict between these Terms and our website or mobile app
these Terms will prevail.
3.3.3 By accepting and agreeing to the Terms and further opening an
Account with the Company, the Client accepts the provision of information
through electronic means such as the Company’s Website or your verified
email (“durable medium”), due to the nature of the relationship established
between the Company and the Client. Such provision of information by
means of electronic communication shall be treated as appropriate by the
Client. The provision of an email address by the Client to the Company for
the establishment or the continuation of the business relationship shall be
considered as sufficient evidence of the Clients agreement of receiving
information through durable medium. The Company will ensure to a
reasonable degree that the Website will be accessible continuously.
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3.5.4 The Clients are allowed to request to be placed into a different
category other than retail.
3.5.5 You shall inform the Company in the event that your personal
information changes.
3.5.7 Your protection as a Retail Client under the Act, the Rules and other
Applicable Regulations includes, but is not limited to:
a.
b.
c.
d.
e.
f.
g.
h.
CAPITAL.COM will provide Clients with complete and explicit
information on the execution of the relevant Client orders;
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i.
j.
k.
l. CAPITAL.COM will notify you when you do not hold sufficient margin to
open or keep a position (such notification will be sent through the
website or the mobile application).
3.5.8 For the Clients who were initially categorised as Professional Clients,
unless advised otherwise by you, your money may be treated in accordance
with title transfer, namely money that you transfer to us by way of margin or
otherwise may be treated as transfer in full ownership to us for the purpose
of securing or covering your recent, future, actual, contingent or prospective
obligations.
3.5.9 By accepting these Terms and Conditions, you confirm that you
understand that the consequence of the transfer of ownership of any such
money means that it shall no longer be regarded as "Client Money" in
relation to the segregation of those monies and that we may deal with such
money in our own right. Furthermore, in case of insolvency, you rank as a
general creditor of the Company in relation to such money. It is noted that
the Client maintains the right to refuse this arrangement, whereby their
funds will be regarded as "Client Money".
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3.6 Availability of the Electronic Services
3.6.1 The Electronic Services of CAPITAL.COM are only available to
individuals who:
a.
Are at least eighteen (18) years old and at least the legal age in their
respective jurisdiction;respective jurisdiction;
b.
c.
Are not domiciled or located in the United States of America as the use
of the CAPITAL.COM Online Trading Platform is prohibited from
anywhere in the United States of America;
d.
e.
The Company may, in its sole discretion, refuse to offer its Electronic Services
to any person and change its eligibility criteria at any time.
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3.7.2 References in these Terms to any statute or statutory instrument or
applicable Regulations include any modification, amendment, extension or
re-enactment thereof.
3.7.3 A reference in these Terms to a “document” shall be construed to
include any electronic document.
3.7.4 The masculine includes the feminine and the neuter and the singular
includes the plural and vice versa as the context admits or requires.
3.7.5 Words and phrases defined in the Act and the relevant Regulations
have the same meaning unless expressly specified in these Terms.
3.8 Schedules
3.8.1 The provisions contained in the attached Schedule(s) (if any) shall
apply. We may from time to time send to you further Schedules in respect of
the Transactions. In the event of any conflict between the provisions of any
Schedule and these Terms, the provisions of the Schedule shall prevail.
3.8.2 You acknowledge having read, understood, and agreed to the
Schedules to these Terms (if any).
3.9 Business relationships with our other entities within the Group.
By accepting these Terms and Conditions, you are giving us your consent to
terminate any business relationship you have with related entities within our
Group and transfer all your relevant documentation and available funds to us.
3.10 Headings
Headings are for ease of reference only and do not form a part of these Terms.
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a.
The type of service, transaction and financial instrument with which the
Client is familiar;
b.
3.11.2 The Company shall not encourage a Client or potential Client not to
provide information required for assessing their appropriateness.
b.
c.
d. Such actions that we take or fail to take for the purpose of compliance
with any Applicable Laws and Regulations shall not render us or any of
our directors, officers, employees or agents liable.
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4.2 Action by a Regulatory Body
4.2.1 If the Commission, or any other regulatory body takes any action
which affects a transaction, then we may take any responsive action which
we, in our reasonable discretion, consider desirable to respond to such
action or to mitigate any loss incurred as a result of such regulatory action.
Any such action shall be reasonable and binding on you.
4.3.2 If the Financial Account Holder's tax residence is located outside the
country, where the Financial Institution (Fl) maintaining the account is
located, the Company may be legally obliged to pass on financial
information provided with respect to your account to the local tax
authorities and they may exchange this information with tax authorities in
another jurisdiction(s) pursuant to intergovernmental agreements to
exchange financial account information.
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4.4 FATCA
b.
your address,
c.
your date of birth,
4.5.1 Under the provisions of the Internal Revenue Code and the Qualified
Intermediary Agreement Revenue Procedure 2017-15, we may be obliged to
collect certain information about the Account Holder as defined in the
Qualified Intermediary Agreement Revenue Procedure 2017-15 for the
purposes of reporting. We have the right to collect such information for the
purpose of ensuring compliance with our obligations under the relevant
Legislation.
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4.5.2 In the case where the Client falls under the definition of the Account
holder as stated in the Qualified Intermediary Agreement Revenue
Procedure 2017-15, the Client acknowledges and accepts that they may be
required to complete a W-8 series form for this purpose in order for the
Company to comply with the reporting requirements under the Qualified
Intermediary Agreement Revenue Procedure 2017-15.
5.1 Charges
Fees and other charges are payable by you as a Client of the Company. A
copy of our current charges is available on the mobile app. Further
information in respect to costs and charges are provided in an aggregated
form on the Company’s website (expressed in both as a cash amount and
as a percentage). The Company provides you with an itemised breakdown
of costs and charges in your personal account on our platform.
5.1.1 Alteration of charges
The Company reserves the right to modify, from time to time the size, the
amounts and the percentage rates of its fees providing the Client with a
respective notification of such charges accordingly. Any alteration to
charges will be notified to you in advance of the relevant change via our
Website or the mobile app. You need to monitor and/or to regularly check
the fees and charges on our Website or in the mobile app, taking into
account that the Company is under no obligation to make personal
notifications of the alterations to the charges.
Your continued use of our platform shall be considered as your consent and
agreement to such changes and shall be governed by those Terms and
Conditions, as modified. If you do not wish to be bound by those changes
you should cease to use our platform and inform us immediately.
The Company will endeavour to notify clients via e-mail communication of
any significant alterations of charges for the Client's convenience.
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5.2 Spreads
The Company will quote to clients two prices, the "ASK" at which clients can
buy a respective CFD, and the "BID" at which clients can sell a respective
CFD. The difference between the ASK and the BID prices is called the
"SPREAD." The SPREAD is the only trading cost that the user has to pay as a
trading fee for the Electronic Services. No other charges or commissions are
paid by the clients to enter or exit a trade. The Company's spreads are
quoted on both the mobile and web platforms and on the website. The
spreads are dynamic due to the uncertain nature of the markets and are set
at the absolute discretion of the Company. Different instruments have
different spreads. The spread may factor in:
Liquidity of the product's underlying marke
General market and economic condition
The Company's risk appetit
The Company's costs and profit margi
The greater competitive landscape
The Company uses a proprietary model to create its pricing. A unique, internally
developed pricing algorithm sources prices from many liquidity providers,
assuring that the Company provides to its clients the best price it can.
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5.4 No Telecommunication Fees are Charged or Covered
No additional costs are charged by the Company in relation to the
telecommunication media utilised by the Client, if any, and the Company is
not responsible for compensating any fees incurred in relation to the use of
telecommunication media by the Client. It is the Client's sole responsibility
to settle any fees with the respective telecommunication provider.
5.5 Payment Methods
Clients can deposit funds to their Account at any time. The following
payment methods can be used: bank cards and bank transfers, payments
via electronic or online payment solutions. Additional limitations and
restrictions apply subject to region, and/or currency, and/or amount of
payment. The Company reserves the right to amend the list of payment
methods without notification of its clients.
Bank deposits from third parties to the client's account will not be accepted.
The Company will not return the funds lost in trading even if the Client
deposited the funds using a payment method belonging to a third party.
The service bank, the processing system, or the payment system may
establish standard limits on all payment transactions regardless of the will of
the Company. The Client understands and agrees that the Company shall
not be responsible for the timing of the payments and for the circumstances
that caused a technical failure during the transfer, if they arose through no
fault of the Company.
The Client understands and agrees that all commissions and other costs
associated with the implementation of the chosen method of transfer and
crediting of funds shall be paid at the expense of the Client, unless the
Company wishes to charge part or all of these costs to its expenses at its
discretion. Funds accounting can be performed in the U.S. Dollars, Euros,
Pounds sterling and other currencies per these Terms.
5.6 Minimum Deposits
The minimum amount of funds deposited by the Client is set by the
Company and depends on the chosen currency and the method of deposit.
The minimum amount of deposit is displayed to the Client on the Platform
under the “Deposit” section in the process of Deposit.
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The Client shall at any time be entitled to declare the return of part or all of
the funds on their account, by sending the Company the request to
withdraw the funds from the account. The amount of funds available for
withdrawal shall be calculated as follows:
If there are no open positions in the client’s account, the amount of funds
available for withdrawal shall be equal to the amount of Funds in the
client’s account;
The Company is entitled to set up the limits on the minimum and maximum
amount of funds available for withdrawal at its own discretion. The
Company has the right to reject the Client's request for funds withdrawal if
it does not meet these conditions, or the Company has reason to believe
that the Client has violated any of the provisions of this Agreement.
The Company processes all funds withdrawals within up to five (5) business
days. This period does not include the time it takes for the service bank, the
processing system, or the payment system to process the transaction. In
exceptional cases (suspicion of the doubtful nature of the operation, at the
time of fixing technical failures, etc.), the Company reserves the right to
extend this period.
Anonymous prepaid cards involve a higher risk for money laundering and
terrorist financing activities. As such, the Company has established
procedures to mitigate risks arising from anonymous prepaid cards. In
particular, the Company shall not accept deposits from anonymous prepaid
cards issued outside the European Union. In this respect, when the
Company identifies such a deposit method, the deposited funds are
immediately returned to the client.
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Currency risk is not limited to conversions within the Online Trading Platform but
conversion rate is not within the control of the Company, and therefore, the
convert amounts denominated in any other currency into the Base Currency at
the prevailing rate at the time of the calculation, as shown on our platform.
You should be aware of the possibility that other taxes or costs may exist
that are not paid through or imposed by us. It is your sole responsibility to
The Company will provide the Clients with an itemised breakdown of costs
You can only deposit your own money to your Account. It should be easily
traceable that the deposited funds come from you. In case of doubt, we
by the amount of transaction fees will be returned to the same account from
In case the card was fraudulently used, the legal owner of the card shall
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The Company will not process any withdrawals made to third parties.
Withdrawals will be made to the same account from which the incoming
funds were originally received from. If it is not possible you are obliged to
provide us with the documentary proof of ownership of the account to
which you are requesting withdrawal.
You should note that such a cost as described here in above may continue
to apply on a monthly basis thereafter if no action is taken by you. If you
maintain more than one account, this fee will apply to all trading accounts.
It will be your responsibility to monitor the status of your account(s) and we
may not send any notification to you prior to charging the above fees.
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5.15 Guaranteed Stop Loss Order Fee (GSL Fee)
A fee charged when the Guaranteed Stop Loss Order is triggered and
executed. The fee is charged in the form of an extra spread and is
expressed in percentage. The percentage is displayed in the deal ticket
when placing the Guaranteed Stop Loss Order on the CAPITAL.COM Online
Trading Platform. The GSL Fee is calculated by the following formula:
GSL Fee = GSL Premium * Position Open Price * Quantity
The amount of fee charged is displayed in the trade history once the GSL is
triggered and executed.
Note: our MT4 trading platform does not offer GSL.
5.16 Dividends
Adjustments will be made to the Client’s Accounts due to dividend
payments related to the underlying equity. Such adjustment will be
calculated by the Company based on the size of the dividend, the size of
Client’s position, taxation and whether it is a buy or a sell trade. If the Client
holds a long Position, the Company will adjust such Client’s Account in
Client’s favour by the dividend multiplied by the long quantity as adjusted, if
necessary, for taxation. If the Client holds a short Position, the Company will
adjust such Client’s Account in Company’s favour by the dividend multiplied
by the short quantity as adjusted, if necessary, for taxation.
A dividend adjustment is applied when an underlying share passes its ex-
dividend date (including the ex-date of any special dividend) in the
underlying stock market.
However, as the Company is dependent upon notification from an external
third party under no circumstances the Company shall be held liable for the
consequences of any delayed adjustments.
5.17 Rebates to Professional Clients
The Company might pay to its Professional Client rebates depending on
their trading activities. The payments of relevant rebates are made within
thirty (30) days of the end of each month. The payment of such rebates shall
be concluded only upon completion of compliance and risk checks carried
out by the Company.
Notwithstanding any other term of this Agreement, the Company may, at its
sole and absolute discretion, withhold, delay or deny payment of any
rebate in any of the following events:
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the Company has reason to suspect that the Client’s activity is not in
compliance with any applicable Rules, laws and regulations
the Company has reason to suspect that the Client’s activity is in breach
of this Agreement or there is any breach of this Agreement
the Client has failed to provide any piece of information as may be
requested by the Company or has provided misleading or incorrect
information; and/o
the Company has figured out or has been notified by any third party of
the alleged infringement of third parties’ rights by the Client or there is
any infringement of third parties’ rules or rights applicable to Client while
performing its obligations under this Agreement.
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b.
c.
d.
You accept that prior to dispatch, we may have acted upon it ourselves
or made use of the information on which it is based. We do not make
representations as to the time of receipt by you and cannot guarantee
that you will receive such information at the same time as other Clients.
Any published research reports or recommendations may appear in one
or more screen information services.
6.4 Conflicts of Interest Policy
6.4.1 Under applicable Laws and Regulations, the Company is required to have
arrangements in place to manage conflicts of interest between the Company
and its clients and between other clients. The Company will make all reasonable
efforts to avoid conflicts of interest, and when they cannot be avoided, the
Company shall ensure that you are treated fairly and at the highest level of
integrity and that the Client's interests are protected at all times.
6.4.2 You acknowledge that we provide our Services to a broad range of Clients
and have numerous counterparties and circumstances may arise in which we,
our Associates, or any relevant person may have a material interest in a
Transaction with or for you or where a conflict of interest may arise between your
interests and those of other clients or counterparties or of ourselves.
6.4.3 Please refer to our Conflicts of Interest Policy for further information on
how we manage any conflict that may arise. Upon request, we will provide
you with any further details in that regard.
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7.1.2 The Company has established a Customer Acceptance Policy to
perform accurate and complete risk assessments when accepting clients.
We are obliged under the applicable regulations to verify the identity of our
Customers. We have undertaken a risk-based approach to this process, which
might require obtaining amongst other things, documentary proof of your
identity or address. You agree that:
I.
II. we may request (amongst other things) further details, documents, photo,
liveness and/or video evidence from yourself. If you cannot satisfactorily
prove your identity, you may not be able to open an Account with us or
the Company may have to close an existing Account.
Furthermore we may, at our sole discretion any time during the business
relationship, request additional documents including but not limited to the
identification documents, proof of address, proof of funds, evidence of your
source of funds and proof of funds and proof of ownership of the payment
methods used by you.
7.3 Documents
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Proof of address may be a utility bill, house deed, or bank statement not
older than six (6) months, stating the client's name and residential
address. In cases where the clients reside within countries where the
addresses are identified only by reference to a P.O. Box, a declaration
letter signed by an independent government representative or
professional officer (such as post office, lawyer, accounts and notary
public) confirming the Client's address is accepted.
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If the expiration date falls on a non-trading day/hours the positions will be
closed at the first upcoming opening of the markets in the CAPITAL.COM
Online Trading Platform.
7.3.5 The Company may, at its sole discretion, at any time during the
business relationship with you, request additional documents, including but
not limited to the identification documents, proof of funds, evidence of your
sources of funds, proof of ownership of the payment methods, as well as
selfies with requested documents.
7.3.6 In the event the Company detects any sanctions or adverse media
alerts during the screening, either during onboarding or ongoing monitoring,
the Company shall request additional identification documents, including,
but not limited to, a certificate of clean criminal record from the responsible
authorities.
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The Client shall be the sole trader on the Account, and all Sub-accounts,
unless the Client has explicitly obtained prior consent from the Company. No
third party is permitted to affect the trades on the behalf of the Client
without prior notification to the Company. You acknowledge that by
accepting these Terms, you remain the sole proprietor and trader on the
account. Any such breach of the aforementioned may subject the Client's
Account to the Enforcement Measures described in clause 13.3 herein.
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a.
b.
31
If the market has moved to the opposite direction of a position, it is
possible to set up a Take Profit at a price that is better than the current
price but worse than the opening price. Thus, it is possible to limit losses
with a Take Profit order. Where a Take Profit Order is attached to a
working order it will be a contingent order that would become active
once all or part of your opening order has been executed giving rise to
a position being opened on your Account. The Take Profit Orders will be
filled at the predefined price. If a Take Profit Order is partially executed
because there is insufficient liquidity at the price you specified, the
remaining part of your order will be active until your price level is
reached again and more liquidity is available. A Take Profit Order will
remain active until it is executed or removed, or the open position is
closed.
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A Trailing Stop is set at a percentage level or certain amount of points
away from the market price; this distance is known as the trailing step -
and the stop will move to maintain that distance from the current price.
One of the largest benefits of a trailing stop is the flexibility that it offers
you, as you don't have to manually move your stop if your position moves
in your favour, and you want to adjust your exposure accordingly. If you
leave a basic stop on an open position, which you don't then readjust if
your trade is profitable, your position will only automatically close if it
retraces back to where you originally placed your stop. Any profits that
you could have taken from the position, had you closed it earlier, would be
lost. Trailing Stops help to prevent this from happening, protecting the
profits on a successful trade as well as minimising losses. When you are
setting a Trailing Stop, you have to be careful not to set your trailing step
too far away from the market price or too near to it. If you set it too far
away, you are at risk of unnecessary losses, but if you set it too close to the
market price, you might be closed out before your trade has had the
chance to make a profit.
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8.2.2 Limit Orders and Stop Loss Orders for equity CFDs are executed based
on the preceding ex dividend prices and if not fully executed before the
occurrence of the forthcoming Corporate Event, entitling the Client to a
dividend for the equity CFD position(s) he/ she currently holds, the Client's
relevant CFD position(s) will be closed by the Company prior to that
Corporate Event at the then prevailing market price. Similarly, the Company
will ask the Client to close any affected pending Limit Orders and Stop Loss
Orders before the forthcoming Corporate Event or will do so on its own.
8.2.3 Limit Orders and Stop Loss Orders applied to equity CFDs based on
cum-dividend prices will be valid for the ex-dividend price (and vice versa)
unless specifically cancelled by the client.
8.2.4 We may introduce new types of orders from time to time by posting a
relevant alert and updating the current information on our platform.
8.2.5 We may introduce restrictions on a temporary basis regarding a
certain type of Order or all Orders.
34
These execution factors include:
a.
price;
b.
speed;
c.
likelihood of execution and settlement;
d.
costs;
e.
size and nature of the order;
8.4.3 The best possible result for our Clients will be determined in terms of
the total consideration, represented primarily by the price of the financial
instrument and the costs related to the execution. The costs related to the
executions include the expenses incurred by the Client which are directly
related to the execution of his/ her order.
8.5.3 The Company shall have no liability for any claims, losses, damages,
costs or expenses, including legal fees, arising directly or indirectly out of the
failure of such order to be cancelled.
35
8.6 Right not to Accept Orders
We may, at our sole discretion refuse to accept any Order or instruction from
the Client or may accept the Client’s Order subject to certain conditions or
may refuse to proceed with an Order that the Company has accepted
(including but not limited to situations where the Company is unable to
execute the Client’s Order due to restrictions with executing brokers or other
third parties, trading venues or due to unusual market conditions). The
Company will make all reasonable efforts to facilitate sales and to notify the
Client in writing unless the Company is prevented from doing so by law.
a.
b.
controls over our total exposure to you;
c.
d.
controls over the Electronic Services (to include, without limitation, any
verification procedures to ensure that any particular order or orders has
come from you); and/or
e.
f.
the Client accepts that some small and micro cap shares that are
traded on highly illiquid markets, or by way of an auction, or other non
standard bidding process, may cause delays in executing Orders in
such financial instruments. Therefore, the Platform will process the
Client's Order as soon as is reasonably possible and will not be liable for
any loss of the Client in this regard.
g. where we have reasonable grounds to believe that you have not acted
in good faith, including but not limited to, whether willingly or not,
abused our ‘Negative Balance Protection’ policy. This includes, but not
limited to, hedging your exposure using multiple trading accounts,
whether under the same name or in connection with another client;
36
8.8 Trade Adjustments
8.8.1 Clients must be aware that CFD transactions carry a high degree of
risk. The amount of initial margin may be relatively small with regard to the
value of the instrument so that transactions are ‘leveraged’ or ‘geared’. A
relatively small market movement may have a proportionately larger impact
on the funds that the Client has deposited or will have to deposit. This may
work against as well as for the Client.
8.8.2 The Company exclusively reserves the right to widen its variable
spreads, adjust leverage and/or increase the margin requirements without
notice under certain market conditions including, but not limited to, when
the CAPITAL.COM Trading desk is closed, around fundamental
announcements, as a result of changes in credit markets and/or at times of
extreme market volatility.
The Company offers its clients “Hedging Mode” trading. Hedging mode
allows you to open opposite direction trades in the same market at the
same time, to hedge any open positions without closing them and realising
profits or losses.
37
8.11 Reporting Transactions and Account Statements
8.11.1 Trade Confirmations
Confirmations for all Transactions that we have executed on your behalf on
that trading day will be available on the mobile app and are updated
online as each Transaction is executed.
Confirmation of execution and statements of your Account(s), in the
absence of manifest error, shall be deemed correct, conclusive and binding
upon you, if not objected to within three days by email, if orders were
placed through the Company’s Online Trading Platform.
In cases where the prevailing market represents prices different from the
prices posted online by the Company on the Website and the mobile app,
the Company will attempt, on a best efforts basis and in good faith, to
execute Market Orders on or close to the prevailing market prices. This may
or may not adversely affect Client’s realised and unrealized gains and
losses.
The Client might request to receive the Account statement monthly or
quarterly via email, by providing such a request to the Client Support
Department (support@capital.com).
38
a.
fraud/illegal actions that led to the transaction;
b.
use of an automated data entry system, mass data entry system, any
electronic devices, robots, high speed trading system, or any kind of
software or program, or automated software algorithms which might
manipulate, alter, tamper with or otherwise abuse our Online Trading
Platform or give you an unfair advantage when using our System or
Services;
c.
d.
e.
f.
orders placed with the use of inside information (i.e. abusive exploitation
of privileged confidential information, the misuse of information or
directors trading shares of their own companies);
g. any other unfair, abusive, manipulative, or illegal way of using our Services
or Platform; or use of any device, software, program, algorithm or any
trading strategy that aims to manipulate, alter, tamper with or take unfair
advantage of our Services or Platform,
39
then the Company will have the right to:
i.
adjust the price spreads available to you; and/or
ii.
iii.
obtain from your Account any historic trading profits that you have
gained through such improper or abusive trading as determined by us
at any time during our trading relationship; and/or
iv.
reject an order or to cancel a trade; and/or
v.
make any corrections or adjustments to your Account; and/or
vi.
immediately terminate our trading relationship, and/or
vii.
8.12.4 Without prejudice to the clause 8.12.3, the Company may allow using
the tools which are technically integrated into the platforms used by the
Company for the provision of Electronic Services (specifically, but not limited
to, the MT4 platform). However, the Company reserves the right to assess
whether such use remains appropriate, not qualified as improper or abusing
trading and does not violate these Terms and terms of use of the relevant
platform. In case of any breaches, the Company is entitled to undertake the
measures prescribed by these Terms, including Section 8.12.3.
40
8.13.3 No business associate or former business associate of the Company
or any of its related entities shall, during the period of the agreement
between the associate/former business associate and the Company and
after termination of such agreement, become a Client of any brand of the
Company (either directly or indirectly, alone or with partners, associates,
affiliates or any other third party) without the Company’s prior written
approval.
8.14.1 We have the right not to accept funds deposited by you and/or to
cancel your deposits in the following circumstances:
a.
if you fail to provide the Company with any documents it requests from
you either for Client identification purposes or for any other reason;
b.
c.
d.
if the Company is informed that your credit or debit card (or any other
payment method used) has been lost or stolen;
e.
where the Company considers that there is a chargeback risk; and/or
41
8.15 Performance and Settlement of Transactions
8.16 Consent
We may require you to limit the number of open positions which you may
have with us at any time, and we may in our sole discretion close out any
one or more Transactions in order to ensure that such position limits are
maintained.
42
8.18 Withdrawals
Without prejudice and subject to these Terms and all Applicable Laws and
Regulations funds may be withdrawn by you from your Account once your
withdrawal request is processed and approved, provided that such funds
are not being utilised for margin purposes or have otherwise become owing
to us, there is a remaining positive balance on your Account and the
Account is approved following the verification of the Client as per the
applicable Anti-Money Laundering Laws and Regulations governing the
Company.
Your withdrawal request will be processed by us and sent to the same bank,
credit card or other source for execution owned by you. No Account
withdrawals to third parties will be processed by the Company.
If you request a withdrawal of funds from your Account and we cannot
comply with it without closing some part of your open positions, we will not
comply with the request until sufficient positions are closed, and we have
established that you have a positive balance on your Account to make the
withdrawal.
The Client shall have the right to withdraw money from the Client’s Account
up to the amount of the free money available to its account.
Payments to third parties from the Client’s Account will not be allowed. Bank
deposits from third parties to the Client’s Account shall not be accepted
either. The Client shall have the right to transfer money to CAPITAL.COM
bank accounts only after accepting the Terms and Conditions with
CAPITAL.COM and receiving a username and password.
43
8.19.2 The Company shall not be responsible for inability to return the Client
funds in case specified under Clause 8.19.1 of this Terms the inability is
resulted from the circumstances which are beyond the Company’s control.
8.19.3 Any Account that is not an Inactive Account shall be classified by the
Company as an active account ("Active Account").
44
or the CFD based on or referencing such underlying asset(s), including but
not limited to: distributions or the grant of entitlements to existing holders of
rights in the underlying asset(s), dividend payments, the granting of rights to
purchase, subscribe or receive any underlying asset(s) (whether for free, on
preferential payment terms or otherwise) or cash, placings, rights issues,
bonus/scrip issues, capitalization issues and similar issues, mergers or
takeovers relating to the issuer of the underlying asset(s), sub-divisions,
splits, reductions (including share buy-backs), consolidations,
reclassifications, restructurings, cancellation or suspension of listing of the
underlying asset(s) or the issuer of the underlying asset(s), and any action or
event analogous to any of the foregoing or otherwise that may have a
dilution or concentration effect on the value of the underlying asset(s) of the
CFD.
8.21.2 In case a Corporate Event will occur while the Client is holding an
open CFD position or has a pending order affected by such event, we will
endeavour to notify the Client of such Corporate Event, accomplished or yet
to occur, as soon as it is reasonably practicable, however the Company
reserves the right to act without prior notifications. Corporate Events can be
amended, withdrawn or cancelled at any time. These changes are beyond
the control of the Company, who is not responsible for any loss of the Client
in this regard. According to the type of Corporate Event, the Company will
inform the Client of the action(s)/adjustment(s) to be taken, if any, including
the possibility of closing the affected position(s), including any pending
order(s).
In relation to the above, depending on the type of Corporate event, the
Company may be required to make an adjustment to the size and/or value
and/or number of the related position(s), including also the possibility of
opening the new position(s) or closing of the existing position(s) at the last
available price. Such adjustment will account for the diluting or
concentrating effect of the Corporate Event in order to preserve the
economic equivalent of the rights and obligations of the parties in relation
to that position(s). Any action taken by the Company will be effective from
the date determined by the Company and shall be binding, however, for the
avoidance of doubt, the said actions may be retrospective. Closing of
Client's CFD position(s) affected by a Corporate Event will not take place in
case of dividend payments related to underlying equities. In this case
adjustments will be made to the Client’s Account, such adjustment will be
calculated by the Company based on the size of the dividend, the size of
Client’s position, taxation and whether it is a buy or a sell trade. For more
details please see paragraph 5.16 herein.
45
8.22. Product or instrument termination
We may require you to close any of your positions which you may have with
us and which may be or have been affected by product or instrument
termination due to, no price provider or any relevant reason which is
determined by the Company, or we may close any of such positions at last
available prices without prior notification at our sole discretion.
b.
The Client’s position may be closed by the Client at any time during the
trading hours indicated on CAPITAL.COM;
c.
d.
e.
f.
46
h.
i.
The Company may terminate a client’s position at its sole discretion;
8.25.1 The Company provides its Online Trading Platform pursuant to this
Agreement and will allow you to open positions and monitor the activity in
your Account by granting you access to the Online Trading Platform(s). You
may choose the Online Trading Platform you prefer to use.
8.25.2 Please take note that the MT4 platform is a third-party trading
platform provided by MetaQuotes and additional terms and conditions
regarding the use of the MT4 platform may apply between you and
MetaQuotes. These terms and conditions, where applicable, will appear in
the MT4 platform. You are responsible for ensuring that you read and
understand these terms and conditions. By using the platform and/or its
features (e.g., 'one click trading'), you will be deemed to have read,
understood and agreed to those terms and conditions.
8.25.3 MT4 is a third party platform and is provided to you "as is". The
Company does not make any representations or warranties in respect of the
Online Trading Platforms and in particular, in respect of MT4. This includes,
but is not necessarily limited to, warranties or representations relating to:
access; o
the accuracy of the financial information or trading history of a user
stored on MT4
that the use of the Trading Platform will be uninterrupted or error free; o
that the Electronic Service will meet any specific criteria with respect to
its performance, fitness for purpose or quality.
You agree to use the Online Trading Platforms as permitted by the terms of
this Client Agreement, any other terms and conditions presented in the
Online Trading Platform, our policies and any applicable laws and
regulations, all of which may be subject to change from time to time, with or
without notice to you.
47
8.25.4 The Company cannot be held liable, to the extent permitted by law,
for any losses or damages suffered or incurred from the use, operation or
performance of MT4. The Company shall not, under any circumstances, be
responsible or liable for any direct, indirect, punitive, incidental, special or
consequential damages that arise from any fault, inaccuracy, omission,
delay or any other failure of the Online Trading Platforms.
8.25.5 You are responsible for securing your password and logins and
preventing unauthorised access and use of the Online Trading Platform.
8.25.6 By trading through our Online Trading Platforms, you acknowledge
and agree that you are liable and responsible for all trades executed on
your Account irrespective of whether they were executed by you personally
or a third party.
8.25.7 You agree that the use of the Online Trading Platform is at your risk.
You are responsible for any losses resulting from the use of any software
and/or any other electronic material or device obtained via the Online
Trading Platform, including loss arising out of your use of third-party add-
ons including but not limited to expert advisors, copy traders, signal
providers or robo advisors (where these are permitted). The Company does
not offer this software/material and accordingly does not assume liability
therefore nor do we provide technical support in relation to the use of such
software/material or devices.
9.1.1 Once you have gone through the security procedures associated with
an Electronic Service provided by us, you will get access to such Electronic
Service, unless agreed otherwise or stated on our Website or mobile app.
9.1.2 All references to the Company's hours of trading on our website are in
Coordinated Universal Time (UTC) using the 24-hour format.
9.1.3 Our Electronic Services will normally be available 24/7 with reasonable
breaks for technical maintenance as specifically mentioned for each
underlying asset on our Website and in the mobile app, every week,
excluding public holidays, periods where the markets for the underlying
assets of the CFDs do not operate and cases where the markets are closed
due to illiquidity in the financial instruments.
48
9.1.4 You may request a quote to open a Transaction or to close all or any
part of a Transaction at any time during our normal hours of trading for the
CFD in respect of which you wish to open or close the Transaction.
9.1.5 Outside those hours, we will be under no obligation to, but may, at our
absolute discretion, provide a quote and accept and act on your offer to
open or close a Transaction.
9.1.6 Please consult our Website or mobile app for more details on operating
times for each CFD. We reserve the right to suspend or modify the operating
hours on our own discretion and in such event our Website and mobile app
will be updated without delay in order to inform you accordingly. In this
respect the operating hours, as indicated on the Website and the mobile
app, are the applicable ones.
9.1.7 We may change our security procedures at any time and we will inform
you of any new procedures that apply to you as soon as possible through
our Website or mobile app.
ensure that the System is maintained in good order and is suitable for
use with such Electronic Service;
b.
c.
carry out virus checks on a regular basis;
d.
e. not at any time leave the terminal from which you have accessed such
Electronic Service or let anyone else use the terminal until you have
logged off such Electronic Service.
50
reverse engineer, decompile or disassemble the software comprising the
System of the Electronic Services, or otherwise attempt to derive source
code of the System of the Electronic Services nor purport to do any of
the same or permit any of the same to be done, except in so far as such
acts are expressly permitted by law
transfer or distribute any rights to the System under this Agreement
separate or alter any part of the System
attempt to reconstruct or discover any computer code, underlying ideas,
or computer programming of the System by any means whatsoever;
generally in any manner damage, tamper with or impair any of our
Systems or any Intellectual Property Rights.
9.8.3 You will not cause or permit any actions to be caused, which might
endanger or damage any intellectual property belonging to us and/or do
any other act which would be damaging and or defamatory against us.
9.8.4 Any copies of the software comprising the System of the Electronic
Services made in accordance with law are subject to these Terms. You shall
ensure that all the licensors trademark, copyright and restricted rights
notices are reproduced on these copies. You shall maintain an up-to-date
written record of the number of copies of the software comprising the
System of the Electronic Services made by you. If we so request, you shall as
soon as reasonably practicable, provide to us a statement of the number
and whereabouts of copies of the software comprising the System of the
Electronic Services.
9.9 Liability
a.
We shall have no liability to you for damage which you may suffer as a
result of transmission errors, technical faults, malfunctions, illegal
intervention in network equipment, network overloads, malicious
blocking of access by third parties, internet malfunctions, interruptions
or other deficiencies on the part of internet or servers service providers.
51
9.9.2 Delays, inaccuracies or errors caused by third parties
a.
b.
c.
d. We do not accept any liability towards executed trades that have been
based and have been the result of delays or errors as described above.
You will ensure that no computer viruses, worms, software bombs or similar
items are introduced into our computer system or network and will indemnify
us on demand for any loss that we suffer arising as a result of any such
introduction.
We shall not be liable for any loss, liability or cost whatsoever arising from
any unauthorised use of the Electronic Service. You shall on demand
indemnify, protect and hold us harmless from and against all losses,
liabilities, judgements, suits, actions, proceedings, claims, damages and
costs resulting from or arising out of any act or omission by any person using
an Electronic Service by using your designated passwords, whether or not
you authorised such use.
9.10 Markets
52
9.11 Suspension with Notice
We may suspend an Electronic Service, by giving you 24 hours written
notice.
53
PART 10. CLIENT MONEY
Due diligence measures: The Company has the obligation to exercise all
due skill, care and diligence in selection, appointment and periodic
review of the credit institution(s) where Clients' funds are placed. The
Company's due diligence measures have been designed in such a
manner so as to ensure that expertise and market reputation of such
institutions are taken into consideration.
10.1.2 The Company may hold Clients' funds in omnibus accounts with third
party financial and credit institutions. An omnibus account means that your
funds will be kept in a pooled account with money belonging to other clients
in a segregated account. Hence, the Client is warned that there is a link of
loss emanating from the use of omnibus accounts in financial or credit
institutions. In general, in case of default or insolvency of the Company, no
single client will have a claim against a specific sum in a specific account.
Omnibus accounts may also hold other types of risks including legal, haircut
risk, liquidation risk, third party and others. By accepting the Terms and by
establishing a business relationship with us, you expressly provide your
consent for maintaining your funds in an omnibus account.
10.1.3 The Company may deposit money received from Clients, excluding
any Client Money held by the Company as margin in accordance with the
Rules and these Terms, into segregated accounts with credit institutions
with fixed terms or notice periods up to 95 days. Placing such Client’s funds
in deposit accounts with fixed terms or notice periods does not limit or
affect otherwise your ability to deal with your money or withdraw it from
your Account.
54
10.2 Interest
You, the Client, acknowledge and confirm that no interest (including any
interest received on client funds deposited into accounts with fixed terms or
notice periods under section 10.1.3) will be received on the balance of your
Account on Clients funds held.
10.3.3 We will not be liable for the insolvency, acts or omissions of any
financial and credit institution or other third party referred to in this Part.
10.4.2 It shall be noted that we take into account the expertise and
reputation of the third party as well as the legal requirements or market
practices related to the holding of those financial instruments that could
adversely affect our Clients’ rights.
55
10.6 Diversification of Risks
We shall ensure, where deemed necessary, the diversification of the Clients’
56
PART 11. MARGINING ARRANGEMENTS
11.1.1 When we effect a Transaction, you should note that, depending upon
the nature of the Transaction, you may be liable to make further payments
when the Transaction fails to be completed or upon the earlier settlement or
closing out of your position.
11.1.2 The Client shall provide and maintain Margin in accordance with the
terms of this Agreement to secure Client's obligations to the Company. The
Company must maintain at all times the minimum margin requirements for
the Open Positions in Client's Account.
11.1.4 The movement in the market price of the CFD will affect the amount of
margin payment you will be required to make.
11.1.5 We will constantly monitor your margin requirements and we will inform
you as soon as it is reasonably practicable of the amount of any margin
payment required under this Part.
11.1.6 The Margin value for each position is calculated in accordance with
the formula below:
Margin = (Volume * Underlying Instrument Price) / Leverage
You agree to pay us on demand such sums by way of margin as are required
from time to time as we may in our discretion reasonably require for the
purpose of protecting ourselves against loss or risk of loss on present, future
or contemplated Transactions under these Terms.
11.2.1 A Margin Call takes place when the client’s Margin Level is at or below
100% and the Company sends its client a notification that he/she needs to
either delete pending orders to free up margin, or close some positions, or
deposit more funds in his/her account to maintain the relevant positions
open.
57
11.3 Failure to Meet Margin Call
In the event that you fail to meet a margin call, we may immediately close
out any of the relevant positions, as well as any pending orders that may
negatively affect your margin balance once executed.
b.
if the Margin Level is still below 50%, then all open positions with the
negative financial result on open markets are closed;
c.
if the Margin Level is still below 50%, then all remaining positions on
openmarkets are closed;
d. if the Margin Level is still below 50%, then everything else is closed, as
soon as the markets open;
58
11.7 Further Assurance
You agree to execute such further documents and to take such further steps
as we may reasonably require to perfect our security interest over and
obtain legal title to the Secured Obligations.
12.2 Clients must be aware that CFD transactions carry a high degree of
risk. The amount of initial margin may be relatively small with regard to the
value of the instrument so that transactions are ‘leveraged’ or ‘geared’. A
relatively small market movement may have a proportionately larger impact
on the funds that the Client has deposited or will have to deposit. This may
work against as well as for the Client.
12.3 The leverage limit applied on the opening positions of CFDs shall be set
depending on the Client’s category. Leverage limits on the opening of a
position by a Retail client for all underlying assets, except digital assets (i.e.
Cryptocurrencies), shall be up to 1:200 in accordance with article 23 of the
Rules.
59
12.5 Clause 12.4 and 12.5 above do not apply for clients categorised as
Professional in accordance with article 24 of the Rules.
12.6 The Company is entitled to set/change the leverage limit for a specific
financial instrument at its absolute discretion, but only up to the value
determined by the Rules depending on the Client category.
You are at least eighteen (18) years old and of legal age in your
respective jurisdiction to form a binding contract, such as these Terms,
as well as open a Transaction and perform your obligations thereunder;
b.
c.
d.
e.
You will not send funds to your Account(s) from, or request that funds be
sent from your Account(s) to a third party;
f.
g. You will not use our bid and offer prices for any purpose other than for
your own trading purposes, and you agree not to redistribute our bid
and offer prices to any other person whether such redistribution be for
commercial or other purposes;
60
h.
i.
No Event of Default or any event which may become (with the passage
of time, the giving of notice, the making of any determination or any
combination of the above) an Event of Default ("Potential Event of
Default") has occurred and is continuing with respect to you;
j.
You act as principal and sole beneficial owner (but not as trustee) in
entering into these Terms and each Transaction and you need to
provide us with the necessary information and/or documentation. In
addition you are not permitted to maintain more than one Account with
the Company. In the event it is absolutely necessary that either in the
present time or in the future, you maintain more than one Account with
the Company you are required to disclose to us your intention and it
remains the Company's sole discretion to accept;
k.
You confirm that you are the lawful owner the debit or credit card used
during registration for the Account with the Company, or the lawful
owner of any other payment method used to open an Account with us;
l.
You are willing and financially able to sustain a total loss of funds
resulting from Transactions and trading in such Transactions is a
suitable investment for you;
m.
Except as otherwise agreed by us, you are the sole beneficial owner of
all margin you transfer under these Terms, free and clear of any security
interest whatsoever;
n. CAPITAL.COM will not be liable for any additional fees the client may be
charged by any bank, credit card provider or other third party payment
services provider, which the Client use for the transfer of funds to and
from your account;
13.1.3 We shall not be held liable for any damages incurred by you as a
result of your breach of a representation or warranty given under these
Terms.
61
13.2 Covenants
a.
b.
You will use all reasonable steps to comply with all Applicable
Regulations in relation to these Terms and any Transaction, so far as
they are applicable to you or us;
c.
You will not send orders or otherwise take any action that could create
a false impression of the demand or value for a financial instrument.
d.
You will not act in a way which we have reason to believe can be
considered as a breach of Applicable Regulations;
e.
You will not seek to manipulate the relevant financial market and/or
Electronic Services offered by us, including but not limited to your
intention to benefit from delays in the prices or other time manipulation,
to trade at off-market prices or manipulated prices or similar practices,
or use any kind of automated data entry system, robots, high speed
trading system or any other software, program, device or scheme which
might manipulate, abuse, tamper with our Services or otherwise give
you an unfair advantage, or enter into transaction which are qualified
as market abuse, improper and abusive trading subject to clause 8.12.
or similar abusive or manipulating way of using the CAPITAL.COM
Online Trading Platform;
f.
g.
h. All statements made by you and any information provided by you, are
correct and complete.
13.2.2 Any breach by you of Covenants given under these Terms renders any
Transaction voidable from the outset or grants us the right to any
Enforcement Measures subject to clause 13.3.
13.2.3 We shall not be held liable for any damages incurred by you as a
result of your breach of covenants given under these Terms.
62
13.3 Enforcement Measures
Notwithstanding the provisions of these Terms, the Company, without any
liability and/or notice (to a Client) shall be entitled to the following
enforcement measures:
I.
II.
III.
prohibit or block the use or withdrawal of funds and/or
IV.
suspend or block the Account and/or
V.
withhold (seize) from the client funds any amounts which are referred
to the breach of the Agreement or client acting in bad faith and/or
VII. report and disclose any such details for the Client’s transactions or
such other information as it may deem necessary, to the Commission,
or any other authority as applicable, in order to comply with any
requirements of any person entitled to require such a disclosure in
accordance with the Applicable Laws.
You fail to make any payment when due under these Terms or to
observe or perform any other provision of these Terms after notice of
nonperformance has been given by us to you;
b.
You fail to perform any obligation due to us;
c.
You fail to perform any of the provisions of these Terms;
63
e.
In the case of receiving official proof of the death of the Client, the
Company shall close any open positions of the Client irrespective of
their current result and hold any Client's assets in custody until
CAPITAL.COM has received official evidence of the legal successors of
the deceased Client and concrete instructions by an authorised person
on how to proceed thereafter;
f.
g.
h.
i.
You take advantage of delays occurred in the prices and you place
orders at outdated prices, you trade at off-market prices, you
manipulate the system to trade at prices not quoted to you by us and
you perform any other action that constitutes improper trading as
described in Clause 8.12;
j.
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15.3 Automatic Termination
The date of the occurrence of any Bankruptcy Default shall automatically
constitute a Liquidation Date, without the need for any notice by us and the
provisions of the following Clause 15.4 shall then apply.
b.
15.5 Payer
If the Liquidation Amount determined pursuant to this Part is a positive
amount, you shall pay it to us and if it is a negative amount, we shall pay it
to you. We shall notify you of the Liquidation Amount, and by whom it is
payable, immediately after the calculation of such amount.
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15.6 Other Transactions
Where termination and liquidation occur in accordance with this Part, we
shall also be entitled, at our discretion, to terminate and liquidate, in
accordance with the provisions of this Part, any other transactions entered
into between us which are then outstanding.
15.7 Payment
The Liquidation Amount shall be paid in the Base Currency of your Account
by the close of business on the Business Day following the completion of the
termination and liquidation under this Part (converted as required by
applicable law into any other currency, any costs of such conversion to be
borne by you, and (if applicable) deducted from any payment to you).
Unless a Liquidation Date has occurred or has been effectively set, we shall
not be obliged to make any payment or delivery scheduled to be made by
us under a Transaction for as long as an Event of Default or any event which
may become (with the passage of time, the giving of notice, the making of
any determination hereunder, or any combination thereof) an Event of
Default with respect to you has occurred and is continuing.
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PART 16. RIGHTS ON DEFAULT
16.1 Default
b.
c.
to close out, replace or reverse any Transaction, buy, sell, borrow or lend
or enter into any other Transaction or take, or refrain from taking, such
other action at such time or times and in such manner, as at our sole
discretion, we consider necessary or appropriate to cover, reduce or
eliminate our loss or liability under or in respect of any of your contracts,
positions or commitments; and/or
17.1.1 You have a right to cancel these Terms for a period of fourteen (14)
days commencing on the date on which you have accepted these Terms
(the "Cancellation Period"). The Company may terminate the Agreement by
giving to you a seven (7) days written notice, specifying the date of
termination therein.
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17.1.2 Should you wish to cancel these Terms within the Cancellation Period,
you should send notice in writing to the contact details are set out in Part 20
("Miscellaneous") under the heading "Notices" or electronically through the
"Contact Us" section of our Website or the mobile opp. Cancelling these
Terms within the Cancellation Period will not cancel any Transaction entered
into by you during the Cancellation Period. If you fail to cancel these Terms
within the Cancellation Period you will be bound by its terms but you may
terminate these Terms in accordance with Clause 17.1.3 ("Termination
Without Default").
17.1.3 Unless required by Applicable Regulations, a party may terminate
these Terms (and the relationship between us) for its own convenience in the
absence of an Event of Default on that party's side by giving in prior ten (10)
days written notice of termination to the other party. The written notice may
not reference the grounds of termination.
17.1.4 Where these Terms have been terminated, in accordance with the
Clauses included in Part 17, no penalties shall be imposed, however:
a. all amounts payable by you to us will become immediately due and
payable including (but without limitation):
i.
all outstanding fees, charges and commissions;
ii.
any dealing expenses incurred by terminating these Terms; and
iii. any losses and expenses realised in closing out any Transactions or
settling or concluding outstanding obligations incurred by us on your
behalf.
b. The Company shall apply best execution rules in cases where you have
not provided the Company with specific instructions regarding the
closing of your positions.
c. The Company shall return any Client funds remaining in your Account to
your bank account, specifically to the account from which the funds
were debited. Your funds may be returned to another bank account to
which you are the beneficiary in exceptional circumstances and as long
as you provide us with the required documents to verify that the
account belongs to you.
d. If due to circumstances beyond the Company's control, the Company is
unable to process payments for returning funds upon termination of
these Terms, the Company shall not bear any responsibility for such
inability to process the payment.
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17.1.5 It is possible to terminate this Agreement with immediate effect by
mutual consent.
17.2.3 The termination of the Agreement shall not in any case affect the
rights which have arisen existing commitments or any contractual provision
which was intended to remain in force after the termination and in the case
of termination, the Client shall pay:
Any pending fee of the Company and any other amount payable to the
Company
Any charge and additional expenses incurred or to be incurred by the
Company as result of the termination of the Agreement
Any damages which arose during the arrangement or settlement of
pending obligations.
17.3 The Company shall terminate the agreement with the client in case the
Client will not behave in an appropriate manner towards CAPITAL.COM or
any of its employees (such inappropriate behaviour can include but is not
limited to Swearing, Abusive Language, Racism, Discrimination, Harassment,
Defamation, Abuse of the Chat / Email System, Misuse of Social Media
Channels and Spam). The Company reserves the right to terminate the
Clients Agreement in these circumstances.
17.4 The Company is not obliged to inform the Client on what grounds it has
decided to terminate the agreement with the Client.
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PART 18. EXCLUSIONS, LIMITATIONS AND INDEMNITY
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18.3 Changes in the Market
18.3.1 Market Orders are executed at the bid/ask prices offered through us.
Pending orders are created at a market price requested by you and offered
through us, which can be the price you requested or better/worse
depending on the market conditions and the type of order you requested
subject to Clause 8.2 ("Types of Orders Accepted").
18.3.2 We reserve the right, at our full discretion, not to execute the order, or
to change the quoted price of the Transaction in case of technical failure of
the CAPITAL.COM Online Trading Platform or in case of extraordinary or
abnormal fluctuations of the price of the financial instrument as offered in
the market.
18.4.1 We shall not be liable to you for any partial or non-performance of our
obligations hereunder by reason of any cause beyond our reasonable
control, it is stated that CAPITAL.COM does not bear any responsibility, for
any loss of the client in connection with the below points ("Events of Force
Majeure").
18.4.2 Nothing in these Terms will exclude or restrict any duty or liability we
may have to you under Applicable Regulations, which may not be excluded
or restricted thereunder.
18.4.3 Any partial or full default of our obligations by reason of any cause or
event beyond the Company's reasonable control, including but not limited
to any communications, systems or computer failure, market default,
suspension, failure or closure, or the imposition or change (including a
change of interpretation) of any law or governmental or regulatory
requirement.
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18.4.4 Any superior force, any event that encompasses acts of God (such as
earthquakes or tsunamis, etc.), certain acts of man of a disruptive and
unforeseeable nature, industrial action, epidemics, pandemics, actions by
government agencies, or work stoppages, any material change in economic
conditions or any other event, that is beyond the reasonable control and
was and whose effects could not be avoided by reasonable measure.
We reserve the right to unilaterally either void from the outset or amend
retroactively the conditions of any Transaction that contained or was
based on any error that we reasonably believe to be obvious or
palpable (a “Manifest Error”).
b.
c.
d.
Any financial commitment that you have entered into or refrained from
entering into in reliance on a Transaction with us that was voided from
the outset or amended retroactively as provided for in this Clause will
not be taken into account in deciding whether or not there has been a
Manifest Error.
e.
g.
h.
The Company shall notify you regarding the Manifest Error and the way
the Company shall proceed to rectify it within 5 (five) Business Days
after it has established the existence of such Manifest Error.
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18.6 No Other Representations
You acknowledge that you have not relied on or been induced to enter into
these Terms by a representation other than those expressly set out in these
Terms. We will not be liable to you (in equity, contract or tort) for a
representation that is not set out in these Terms and that is not fraudulent.
18.7 Indemnity
You shall pay to us such sums as we may from time to time require in or
towards satisfaction of any deficiency on the balance of your Account(s)
(excluding negative balances that are covered under Negative Balance
Protection (clause 8.20.)) with us and, on a full indemnity basis, any losses,
liabilities, costs or expenses (including legal fees), taxes, imposts and levies
which we may incur or be subjected to with respect to any of your
Account(s) or any Transaction or as a result of any misrepresentation by you
or any violation by you of your obligations under these Terms (including any
Transaction) or by the enforcement of our rights.
The Company shall provide you in good time before carrying on Securities
Business activities with a general description of the nature and risks of
financial instruments, taking into account, in particular, the Client's
categorisation as either a Retail Client or as a Professional Client. That
description shall explain the nature of the specific type of instrument
concerned, the functioning and performance of the financial instrument in
different market conditions, including both positive and negative conditions,
as well as the risks particular to that specific type of instrument in sufficient
detail to enable the Client to take investment decisions on an informed
basis.
The description of risk referred above will include, where relevant to the
specific type of instrumentconcerned and the status and level of knowledge
of the Client, the following elements:
a. The risks associated with that type of financial instrument including an
explanation of leverage and its effects and the risk of losing the entire
investment including the risks associated with insolvency of the issuer or
related events, such as bail in;
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b.
The volatility of the price of such instruments and any limitations on the
available market for such instruments;
c.
d.
20.1 Amendments
20.1.1 Shall the Company introduce any material amendments to the
present Terms, you will be notified accordingly by means of the app and/or
by e-mail of such material amendments. You will be given 48 hours from the
moment the notice has been dispatched ("48 Hours") by the Company to
decide on whether you would want to proceed under the new Terms. Upon
the expiration of these 48 Hours you shall be deemed to have provided
consent to the application of the new Terms.
20.1.2 If you disagree with the application of the new Terms you must get in
touch with the Company by utilising the email stated in Clause 20.2
("Notices") below prior to the expiration of the 48 Hours, clearly state that
you no longer wish to be a Client of the Company and discontinue your use
of the Services.
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We will process the termination of your Account and any relevant issues as
provided for herein and the Applicable Regulations.
20.2 Notices
Unless otherwise agreed, all notices, instructions and other communications
to be given by us under these Terms shall be given to the contact details
provided by you to us. Likewise, all notices, instructions and other
communications to be given by you under these Terms shall be given to us in
writing at the address below:
Name: Capital Com Online Investments Ltd.
Registered Address: The Bahamas Financial Centre, 3rd Floor, Shirley and
Charlotte Streets, P.O. Box N-4865, Nassau, Bahamas
20.3.2 Further, the Company will also keep records to be kept of all services
and activities provided and transactions undertaken by the Company as
well as records related to its business and internal organisation.
20.3.3 The Company shall keep records of the content and timing of
instructions received from you. A record of the allocation decisions taken for
each operation shall be kept providing for a complete audit trail between
the movements registered in clients’ accounts and in the instructions
received by the Company. In particular, the final allocation made to each
investment Client shall be clearly justified and recorded. The complete audit
trail of the material steps in the underwriting and placing process shall be
made available to competent authorities upon request.
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20.3.4 You have the right to request and receive records of telephone and
electronic communications that are related to reception, transmission and
execution of your orders. Such records will be kept by the Company for a
period of up to 7 years from the end of business relationship with you
according to the relevant regulations (please refer to our Privacy Policy for
more details).
20.3.5 The Client acknowledges and accepts that the Company is required
to disclose information in relation to any US reportable persons to the
relevant authorities, as per the reporting requirements of FATCA and
Qualified Intermediary Agreement regimes. The Client may contact the
Company for additional information and/or clarifications prior to accepting
these Terms and Conditions.
20.4.2 The Company will also keep records of orders placed by clients
through channels other than the Companies' electronic platform, provided
that such communications are made in a durable medium (e.g. mails, fax,
emails, chats, internet communications, etc.). In case of relevant face-to-
face conversations with the Client, the content of such will be recorded by
using written minutes or notes.
20.5.2 You will not rely on us to comply with your record keeping obligations,
although records may be made available to you on request at our absolute
discretion.
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20.5.3 The records will be retained in a medium that allows the storage of
information in a way accessible for future reference by the competent
authority, and in such a form and manner that the following conditions are
met:
i.
ii.
iii.
it is not possible for the records otherwise to be manipulated or altered;
iv.
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20.8 Complaints Procedure
20.8.1 We are obliged to put in place internal procedures for handling
complaints and inquiries fairly and promptly. In the event you are dissatisfied
with the Electronic Services provided to you by the Company you can
submit the claim through the “Complaints Procedure” section of our Website
or send to the following e-mail address: compliance.bahamas@capital.com.
You must provide the following information to assist us in dealing with your
complaint:
Your Trading Account Number
Your Name/Surname/Email address
Date of the event
Cause of your complaint (please indicate one of the causes as follows:
execution of orders, quality or lack of information provided, terms of
contract/fees/charges, general admin/customer services, issues in
relation to withdrawal of funds, other)
Details of the person or department of the company to whom you think
the complaint should be directed.
b.
c.
d. In the case where the complainant is still not satisfied with the
Company’s final response, then the complainant can refer his complaint
with a copy of the Company’s final response to the Securities
Commission of Bahamas (SCB) in Bahamas for further examination.
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20.9 Transfers & Assignment
These Terms shall be for the benefit of and binding upon us both and our
respective successors and assigns. You shall not assign, charge or otherwise
transfer or purport to assign, charge or otherwise transfer your rights or
obligations under these Terms or any interest in these Terms, without our
prior written consent, and any purported assignment, charge or transfer in
violation of this Clause shall be void. You agree that we may without further
notice to you and subject to the Applicable Laws and Regulations, transfer
by whatever means we consider appropriate all or any of our rights,
benefits, obligations, risks and/or interests under these Terms to any person
who may enter into a contract with us in connection with such transfer and
you agree, that we may transfer to such person all information which we
hold about you.
20.12 Set-off
Without prejudice to any other rights to which we may be entitled, we may
at any time and without notice to you set-off any amount (whether actual
or contingent, present or future) owed by you against any amount (whether
actual or contingent, present or future) owed by us to you. For these
purposes, we may ascribe a commercially reasonable value to any amount
which is contingent or which for any other reason is unascertained.
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20.13 Partial Invalidity
If, at any time, any provision of these Terms is or becomes illegal, invalid or
unenforceable in any respect under the Law of any jurisdiction, neither the
legality, validity or enforceability of the remaining provisions of these Terms
nor the legality, validity or enforceability of such provision under the Law of
any other jurisdiction shall in any way be affected or impaired.
The Company and its related entities are responsible for the protection of
the privacy and the safeguarding of your personal and financial
information.
Your personal data are safely stored in the Company’s electronic systems
and are treated as confidential. The Company will not disclose any of the
Client’s personal data to a third party that is not an affiliate, partner, or an
associate related to the provision of services to the Client, unless we have
your consent or the Company is required to do so by an official government
regulatory authority or a competent jurisdiction. The Company will not hold
any information about its Clients’ debit or credit cards, or any payment
method used by a Client to make his/her deposit not required by the
Applicable Regulations and will at all times be in compliance with the
undertaken cardholder data security standards.
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PART 21. GOVERNING LAW AND JURISDICTION
21.2 Jurisdiction
The Parties to these Terms submit to the exclusive jurisdiction of the courts
of the Bahamas to settle any suit, action or other proceedings related to
these Terms ("Proceedings").
You irrevocably waive to the fullest extent permitted by applicable Law, with
respect to yourself and your revenue and assets (irrespective of their use or
intended use) all immunity on the grounds of sovereignty or other similar
grounds from suit; jurisdiction of any courts; relief by way of injunction, order
for specific performance or for recovery of property; attachment of assets
(whether before or after judgement); and execution or enforcement of any
judgement to which you or your revenues or assets might otherwise be
entitled in any Proceedings in the courts of any jurisdiction and irrevocably
agree that you will not claim any immunity in any Proceedings. You consent
generally in respect of any Proceedings to the giving of any relief or the
issue of any process in connection with such Proceedings, including, without
limitation, the making, enforcement or execution against any property
whatsoever (irrespective of its use or intended use) of any order or
judgement which may be made or given in such Proceedings.
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Annex 1 - Swap-Free Account Terms and Conditions
1. These Swap-Free Account Terms and Conditions (hereinafter referred to
as the Terms) are a supplementary and integral part of the Agreement with
clients on conducting operations involving non-deliverable over-the-
counter (OTC) financial instruments (CFDs Transactions) concluded between
Company and the Client, and they govern the terms and conditions of using
a Swap-Free account.
These Terms supplement and modify the Agreement. The provisions of these
Terms supersede the provisions of the Agreement only to the extent that the
provisions of these Terms and the Agreement expressly conflict. Nothing in
these Terms should be interpreted as invalidating the Agreement, the
provisions of which will continue to govern the relationship between the
Parties insofar as they do not expressly conflict with these Terms. In case of
a contradiction between these Terms and the Agreement, the Terms shall
prevail. For these Terms, definitions and expressions shall have the meanings
given to them as defined in the Agreement, unless the context otherwise
requires.
2. By applying for a Swap-Free account, the Client explicitly expresses his/
her approval and acceptance of these Terms.
4.2 The spread size in a Swap-Free account may differ from the spread
size in a regular account.
5. The Client can have only one type of account: a regular account or a
Swap-Free account. For existing Clients, it is necessary to close the existing
regular account before opening a Swap-Free account. Before closure of a
regular account, the Client should make sure that a Swap-Free account is
available for him/her by contacting the Company via any appropriate
means of communication.
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6. Pursuant to Section 3 of these Terms, the Company reserves the right to
require an adequate justification for and/or proof of the necessity or need
of opening a Swap-Free account, including provision of proof of faith.
7. A Swap-Free account may be subject to restriction in respect to the
Client’s place of birth, nationality and/or country of residence as well as to
other restrictions, which may be imposed by the Company from time to time,
at its sole discretion.
8. A Swap-Free account is subject to regular comprehensive checks and
monitoring to detect any improper/abusive activities prohibited by these
Terms or by the Agreement.
9. It is strictly prohibited to apply for a Swap-Free account and/or use such
an account if the primary reason for this is taking advantage of not paying
overnight commission inherent in a regular account. Should the Company
determine, at its sole discretion and in good faith, the violation of this rule,
the Company shall be entitled to:
i.
ii.
iii. take any other measure(s), provided in Section 9.3 and/or other
sections of the Agreement for the Client’s violation of the terms of the
Agreement. In addition, should the Company determine, at its sole
discretion and in good faith, that a Swap-Free account is used in bad
faith, the Company shall be entitled to apply retrospectively all the
overnight commissions that were previously omitted.
10. The Company reserves the right to close a Swap-Free account and/or
refuse to open such an account at any time, at its sole discretion, with or
without reason, without being obliged to provide any explanation or
justification.
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