Terms and Conditions 2015/16

Transcription

1 Terms and Conditions 2015/16 These are the terms and conditions according to which the customer's account will be opened and run in order to execute currency trading deals and other financial instruments via ZAR FX Ltd. 1. General 1.1. The company will open a trading account for the client, upon receiving the required identification documents, and approval of this agreement by the client Access to the client's account by the client will be according to the terms and conditions of this agreement. 2. The Safe Execution of Trades 2.1. The company system allows the client to execute currency rate deals and other financial instruments through his account The client is able to execute trades with his account, according to the user name and password that are given to him by the company. The company is authorized to execute the client's orders in his account that are in consent with the conditions of this agreement including safe maximum leverage. The company is entitled to suspend a deal due to lack of funds in the account. The company does not advise whether to proceed or not, pertaining to a specific deal ZARFX is an arena where the deals of the clients are being run; as mentioned above it is not allowed to jeopardize the company authority, or to work against the clients' interest The trading rates that are quoted by the company are according to the index rates that are published by the financial information center and are subject to change. In order to determine the trading rates for various periods, certain mathematical calculations are done according to well known currency trading market equations that are based on the interest rate of various currencies for different periods The trading rates include the spread rate of the company based on the difference between the buy and sell rates. The swap rates are credited or charged upon rollover at (23:00GMT TIME) of the selected day The trades are executed by the client unless he specifically asks the company to do so on his behalf. The clients balance will be credited or charged in accordance with the results of his last trade The company determines from time to time the maximum amount allowed to trade with as a whole and as for individual accounts, each account as a whole and each deal of each account The trading deal amounts are interest rate free, unless agreed upon by correspondence with the company ZARFX has the one sided credit to upon notifying the client- a deal that was executed wrongly including system mistakes and, that were or weren't under ZARFX control or, that the currency rates were indicated wrongly and do not represent accurately the actual difference of currency rates of the trade market. Arbitrage Trading Warning A forex trading strategy which consists of locating an incorrectly priced currency pair and buying or selling it against another currency pair for a profitable trade by exploiting the metatrader 4 technology holes. These opportunities are small windows caused by an inefficient trading environment lacking liquidity and do not last long. One of the reasons for these gaps is that the representation for the crosses isn t complete if you make the calculation by yourself, you ll see many more digits these fractions of pips make the arbitrage gap.

2 When the gap is narrow, the broker s revenue kicks in. This gap may be filled by the spreads try calculating the cross by using the correct bid or ask values, and you might find that there s no arbitrage such a deal will always lose. Note: trying out this method on a forex demo account might be interesting, but can t be trusted the quotes in demo accounts sometimes lag the gaps could be the result of this issue. Trader can see this work many times in demo account, but fail in a real account. Zarfx considers such arbitrage methods a manipulation of the trading system and if traders with 1 or multiple accounts violate theses terms will result in the termination of the trading account(s) and cancellation of the total profits. In specific cases, Zarfx can freeze the funds of violating trading account for investigation and research on these "holes". This will be done between the company (Zarfx) and the liquidity provider(s) that provides the DMA feed. 3. The client's declarations 3.1. The client declares that his communication with this agreement does not conflict with any laws or regulations that are against him, and that he is obliged to fulfill any duty that comes from using the system. The client is the only responsible person for all the trading deals done in his account, including all deposits and withdrawals, and he is the only one responsible for the safety of his login and password The trading services that are offered through the website are only suitable for those whom are aware of the risk of trading in the capital market s in general and in the currency market specifically. The incorrect use of financial leverage systems runs the risk of losing all the capital deposited in a short period of time The client declares that he has knowledge of the trading system, including the opening and closing of deals. A client who is not familiar with the trading system is advised not to enter a trade unless he receives guidance from the company representatives. 4. Consultation and limitation of Responsibility 4.1. There is no advisory at the Company web site or any other source regarding advice for or against currency trading The company does not offer any advisory regarding Taxation ZARFX will not be responsible for any faults, mistakes or trespasses regarding losses or expenses incurred, that may affect the client or any third party as a result of counting upon the information or using the information that was given to the client by the company or by any other person. 5. Limitation of loss 5.1. The order used to limit the loss is the stop loss order, and it's a solution for suspending the deal that is causing loss of the value previously requested. The company advises this order usage in order to gain control over the potential loss of every deal. As shown clearly at certain markets conditions there is no certainty that the limitation of stop loss order is to be executed with the requested rate, or not at all The maximum loss of the client will not exceed the funds in his account. 5.3 ZARFX has a clear guideline to Margin Requirements: A customer must have sufficient margin which must be maintained in order to open or close a position ZARFX has the right to close any trade when Margin requirements are not met ZARFX has the ability to change any margin requirement at their choosing A client will be stopped out when his equity is at 100% of his used margin requirement.

3 6. Reports 6.1. The client can at any time browse through the reports regarding his ongoing trade through connection to the function of deal system 6.2.The company does not send printed reports to its clients. Upon to the clients' request, a report of ongoing deals and the financial status of his account will be given out; this request can be done digitally. 7. Responsibility 7.1. All trades taken by the clients are their own responsibility. ZARFX is not responsible for any damage, result, ban, loss or debt that can occur to the client directly or indirectly from this agreement The client declares that it's known to him that trading currency pairs and other financial instruments are high risk deals. High leverage can quickly affect the result of a deal The client declares that he has read and understood all the details that are attached to this agreement. 8. Accounting and Payments 8.1. The amounts of any deposits or withdrawals will be stated like a trading deal in the account history Payments will be delivered to the client upon request which is consistent with the details and conditions in this agreement The client declares and confirms that the company can deduct from his account all the taxes or fees, including tax source fees, that are due according to regulations and he will have no claims against the company Company is using several processing companies and banks in order to process credit card transactions, such as RGV Media LTD located at 1A Arcade House, Temple Fortune, London, United Kingdom, NW11 7TL And Is Registered With Number and/or RGV Holdings LTD located at Nancy Whiticker House, 7 Old Street Roseau, Commonwealth of Dominica and registered with number: All clients that use credit card transaction have a limit to 1 card per account, 10 transactions per card with a $10,000 max amount per card. 8.6 Withdrawal fees ZARFX do not charge fees for customer s withdrawals except two cases: 1.0 Withdrawals frequency is more than once a month. 1.1 Low trading activity. Accounts that did not have a minimum of 20 open trades since the activation date will be subject to fees. The fees charged can be up to 4% of the total deposit amount or minimum 40$. 9. Partners account 9.1. Regarding a multi owner account, according to the power of attorney that is used in the company all the owners are held responsible for their account. Any notification given out from the company to one of the owners will be regarded as notification to all owners of the account. Any orders given out by one of the owners to the company will be regarded as an order by all owners of one account, is there are several order sequences, the last order will be regarded as the one that should be followed. 10. Agreement Expiration ZARFX supersedes the expiration of an agreement action at any time upon notifying the client and is executed right away Closing or finalizing the agreement from any party. Either the client or the company will be obliged to close all open deals till the date of finalizing the agreement, or even prior according to the company's requirement Starting from the date of finalizing the agreement, the client is not allowed or able to open new deals, or execute financial orders, without the approval of the company.

4 11. General This agreement and its schedule-appendix- supersedes all the communications between the parties There will be no expiration date or cancellation for any change in this agreement that will take place unless there is a written stamped letter between the parties The client is not entitled to forward or delete this agreement, including debit or credit to any third party The introduction of this agreement is an integral part of it The agreement is written in paragraphs and titles and subtitles are there for offering the reading facility and it's not allowed to be used for commentary reasons This agreement is only for adults 18+yrs The client has to approve receiving messages and announcements, including advertising material, from the company regarding the communication sent to the company The diagrams that are shown at ZARFX books, are considered right and proof of all that is included in them. 12. Bonus terms & conditions These terms and conditions apply to all bonus promotions referenced or listed on or affiliated sites, or distributed in any and all forms of electronic communication Bonus will only be applied to one account and cannot be transferred between accounts Client must trade a minimum trading volume of 10,000 times the amount he funded plus the amount of bonus received, in order to withdraw bonus funds If the requirement is not fulfilled within 60 days (44 market days) from the deposit date, the bonus amount will be withdrawn out of the clients account. If this should cause a margin call, ZARFX will wait for client to either deposit additional funds or close all of his/her positions For example: if an account is funded with $1000, and received a bonus of 200$, a trading volume of 120 lots (1200*10,000) has to be done, in order to withdraw bonus funds and profits Bonus deposits are not pro-rated and trading volume requirements must be met to redeem entire bonus and profits amount posted before eligibility of withdrawal. For example, if you received a bonus of 200$ on a 1000$ deposit, you must trade a total of 120 standards lot to redeem the bonus amount The bonus and profits can only be withdrawn once the minimum trading requirements outlined above have been met. By accepting the deposit bonus, clients may NOT withdraw the trading profit funds at any time and nor the bonus funds they received until minimum trading requirements have been met. Client may also withdraw the funds they deposited at any time, but not the trading profit funds and bonus until minimum trading requirements have been met By accepting the deposit bonus, the clients agree to these terms and conditions. ZARFX maintains the right to change the terms of the bonus policy at any time. Prior notice will be given to clients via posting on the website or . ZARFX will not be held responsible for failure of the client to regularly review and confirm posted terms and conditions The trading volume will only be calculated on FX products. CFD's are not eligible for this promotion and will not be accounted for as part of the volume calculation for bonus withdrawal. Agreement Disclosure Appendix It is clarified through this that trading with financial instruments, through using investment leverage, is considered speculative trading, of high risk, that of which policy may not be suitable for any given inexperienced investor. You have to be fully aware of all trades within the leverage. They will affect any slight changes with the market rate that will result in either profit or loss of a significant high ratio to

5 the deposit capital of a given investment trading, and can cause capital loss within a short period of time. Due to the volatility that characterizes the currency trading markets and various financial instruments, the mentioned changes that can raise the market rates that can occur within a short period of time, and can directly affect the account. This Agreement shall be governed by the laws of British Virgin Islands (BVI), without regard to conflicts of law principles thereof. This is the case regardless of whether you reside or having business with ZARFX.com anywhere else in the world. The trading over the web site or part of it, is subject to halting without previous notification to reason not related to the company, nor initiated by the company. In case of the trading halting ZARFX, ltd is authorized to close all opened deals of clients without prior notice to the client, with protected price that consist with the market terms of that specific time. The client shall not have any grounds for complaint or lawsuit against the company. It's has been clarified that the trading systems are based upon communicated networks, internet and computers, that are not totally under the control of the company, which can be subject to not being protected against damage, internet drop, delay..etc, the company shall not be held responsible for any damage that is caused to the client due to that, or to any other exterior occasion that has affected the trading of the clients account including and not only, delay of communication or internet connection, computer's net drop or any other technical failure, that occur to any telephone line or phone company, any internet suppliers computer' failures, or the company computer or the clients computer for that matter. For safety reasons, it's advised to use money that you can afford to lose. Third Party Technology ZARFX makes use of third party technology to collect information required for traffic measurement, research, and analytics. Use of third party technology entails data collection. We therefore would like to inform clients that ZARFX enables third parties to place or read cookies located on the browsers of users entering the ZARFX domain. Said third parties may also use web beacons to collect information through advertising located on the ZARFX web site. Please note that you may change your browser settings to refuse or disable Local Shared Objects and similar technologies; however, by doing so you may be disabling some of the functionality of ZARFX services. Anti-Money Laundering ZARFX.com is required to comply with the anti-money laundering and counter-terrorism global and international legislation. By applying for an account with zarforex.com you agree to the following terms: - you are not aware and have no reason to suspect that the money used to fund your account with zarforex.com has been or will be derived from or related to any money laundering or criminal activity. - you agree to provide us with all information and documents that we reasonably request in order to comply with all applicable laws and regulations relating to anti-money laundering. - it is not to allow the transfer of funds between different entities. - Withdrawals must be made to the same bank account the money was deposited from (to prevent money transfer between different entities' bank accounts, through zarforex.com), and in the same currency (to prevent currency changes through zarforex.com). - If the original account is no longer available, funds may be transferred to a different account of the same entity (you will need to get a copy of a check or other instrument proving the new account ownership), in the same currency and into the same country the original deposit was made from.

6 - One can NOT deposit from a company he owns - to his personal trading account, and vise versa. -One cannot get deposits from his brother/mother/other relative bank account; unless that relative joins the trading account (signs the trader agreement). - A client cannot transfer funds between trading accounts not under his own name.