Terms and Conditions
This Client Agreement is entered by and between FXM Capital (the “Company”) and the client or legal entity that has applied to open a trading account with the trading platform operated by the Company for the execution of transactions in financial instruments (the “Client”) in accordance to the terms of this Agreement.
MTP Holdings Ltd will never disclose any private or otherwise confidential information in regards to its clients and former clients to third parties.
1.1 The terms of this Agreement, along with the Company’s Risk Disclosure Document (the “Agreement”), shall govern over the relations between the Client and the Company with respect to the execution of foreign exchange, shares, indices and other financial instruments rates (“Forex Trading”), through the Company’s trading platform supplied to the Client by the Company (the: “Trading Platform”) and any other service provided by the Company to the Client (the “Company’s Services”).
1.2 The Company shall set rules and instructions relating to the Client’s account and trading conditions in the account, including, without limitation, regarding minimum account size, minimum account activity, fees, bonus terms, leverage limitations, rules relating margin requirements, and the Company shall be entitled to change the said rules and instructions from time to time.
2. The Trading Account
2.1 The company will open a trading account (the “Trading Account”) for and on the Client’s name, subject to the registration of the Client with the Company according to the Company’s requirements, including providing complete and accurate Client information as required for the opening of the Account, and by presenting identification documents including a copy of an identification certificate, passport, a copy of credit card from both its sides, in case the deposit was made by credit card (client may hide the credit card number except for the last four digits, and may also hide the CVV code, at the back of the card), and a valid (recent three months) proof of address, by presenting a government vendor or other utility bill (water, city tax, electricity, ‘etc.). The Client authorizes the Company to rely and act according to any request, guideline or other message appeared to be from the Client, without further examination by the Company as to the authenticity, veracity, or the identity of the person who delivers or purporting to deliver such request, guidance or message. The Client undertakes to provide correct and complete information regarding itself. The Client must report to the Company immediately in case of any change in the information the Client had provided to the Company.
2.2 The Company may, according to its sole discretion, act as a mediator and ensure the coverage of Client transactions by different brokers, and also to act as a market maker and be the counterparty to the transaction of the Client. The Company shall not serve as an agent or trustee of the Client or on his behalf under any circumstances. The Client acknowledges that he/she is acting for himself and not as agent or trustee on behalf of someone else. Accordingly, the Client agrees that he/she will be directly and fully responsible for performing his/her obligations under this Agreement, including with respect of any Transaction made by or on behalf of the Client. The Company shall not accept any other person as an indirect client with respect of this Agreement and shall accept no obligation to any such person unless otherwise expressly agreed in writing.
2.3 Usage of the Trading Platform is according to a limited, personal, non-transferable and exclusive license granted to the Client. The Client is not permitted to transfer and/or assign and/or allow another person to use the license and/or act in the Client’s Account to someone who is not a Client, and/or transfer the username and password to the Account to any other person.
2.4 The use of the Trading System and Company’s Services is personal permitted above the age of 18 only. The Client must ensure that there is no legal or other obstacle to its said activity, and that the client has fulfilled any legal requirement needed for the use of these services.
3. Margin Funds
3.1 As a condition for performing transactions in the Company’s Platform, the Client must provide to the Company sufficient margin to secure the results of the trading in the account. The Funds shall be used as for Transactions, including trading Losses, commissions and/or any other fee owed by the Client to the Company, which will be automatically deducted from the Client’s Trading Account. The Client’s Funds shall not accumulate any interest or any other rights (except for rollover or swaps interest, as defined below). Trading in CFD’s (Contracts For Differences), Foreign Exchange or other trading methods that relate to an underline security, shall not grant the Client any right to dividends, voting, allocation or other Benefits, but may be subject to adjustments according to financial events which affect the underlining security, such as distribution of dividends, stock price splits etc.
3.2 The Client warrants and obligates that the Margin funds do not originate from any criminal or illegal activity and are without violation of Anti Money Laundering laws and regulations in the world.
3.3 The Company may, at any time and according to its sole discretion, block the activity in the Client’s Trading Account if it suspects of any act of fraud, cheating, forgery and/or any breach of law or this Agreement by the Client.
3.4 The Client hereby entitles the Company to collect from the Trading Account any fees payments owed to the Company. If the Client does not have sufficient funds to cover its liabilities, the Client must deposit additional funds immediately upon demand by the Company, otherwise the Company may close the transactions in the Client’s Account.
3.5 The Company shall not provide physical evidence in relation to any Transaction. Profits and/or losses will be considered as completed only after the Transaction is closed.
3.6.1 Deposits of funds to the Company is available by different methods of payment and in different currencies as agreed upon by the Company from time to time, and the Trading Account shall be converted and managed in the Trading Platform in US Dollars or Euro, as applicable, according to the exchange rate determined by the Company according to the such rates as published in the same day. The Company uses funds clearing and transfer solutions of different suppliers, and may receive or transfer the funds through a third party, subject to the applicable law.
3.6.2 According to Anti-Money-Laundering laws and regulations, when making a deposit by bank transfer or credit card, the Client is required to use his/her own Bank account only. The Client must send the Company an authentic SWIFT confirmation, stating the full details of the transmitting Bank account. Non-delivery of the SWIFT confirmation or in case the details do not match to those of Trading Account, may prevent the funds from being deposited to the Trading Account.