1.1. The Agreement is entered by and between D.T. Direct Investment Hub Ltd. a Company duly registered with the Cyprus Registrar of Companies with registration no. HE 354263 and with registered office address at Modestou Panteli 4, Mesa Yeitonia, 4003 Limassol, Cyprus (hereinafter called the “Company”) on the one part and the Client (which may be a legal entity or a natural person) who has completed the Client Registration process and has been accepted by the Company as a Client (hereinafter called the “Client”) on the other part.
1.2. The Company is authorised and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) as a Cyprus Investment Firm (CIF) to offer the following Investment and Ancillary Services and Activities under the Investment Services and Activities and Regulated Markets Law of 2017 L.87(I)/2017, as subsequently amended or replaced from time to time (the “Law”), with CIF license number 347/2017.
- Reception and transmission of orders in relation to one or more financial instruments;
- Portfolio Management;
- Investment Advise.
- Transferable securities
- Money-market instruments
- Units in collective investment undertakings
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event).
- Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market or/and an MTF
- Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in point 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls
- Derivative instruments for the transfer of credit risk
- Financial contracts for differences
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin calls.
1.3. This Client Agreement with Complaints Handling Procedures, Client Categorisation Policy, Risk Disclosure, Investor Compensation Fund, Conflicts of Interest Policy, set out the terms upon which the Company will offer Services to the Client
1.4. The Agreement overrides and supersedes any other agreements, arrangements, express or implied statements made by the Company or any Introducer(s) or any Provider or Broker.
2. Interpretation of Terms
2.1. In this Agreement:
“Access Data” shall mean the Login and Password of the Client, which are required so as to have access on and use the Platform(s) and any other secret codes issued by the Company to the Client.
“Account Opening Application Form” shall mean the application form/questionnaire completed by the Client in order to apply for the Company’s Services under this Agreement and the opening of a Client Account, via which form/questionnaire the Company will obtain amongst other things information for the Client’s identification and due diligence, his categorization and appropriateness or suitability (as applicable) in accordance with the Applicable Regulations.
“Affiliate” shall mean in relation to the Company, any entity which directly or indirectly controls or is controlled by the Company, or any entity directly or indirectly under common control with the Company; and “control” means the power to direct or the presence of ground to manage the affairs of the Company or entity.
“Agreement” shall mean this “End User - Client Agreement” together with Complaints Handling Procedures, Client Categorisation Policy, Risk Disclosure, Investor Compensation Fund, Conflicts of Interest Policy.
“Anti-Data Mode” shall mean a mode of the Automatic Order whereby Orders are placed in Financial Instruments with the Broker automatically and such Orders are opposite to the direction of the Provider’s traced Transaction.
“Applicable Regulations” shall mean (a) CySEC Rules or any other rules of a relevant regulatory authority having powers over the Company; (b) the Rules of the relevant Market; and (c) all other applicable laws, rules and regulations of Cyprus or of the European Union.
“Ask” shall mean the higher price in a Quote at which the price the Client may buy.
“Automatic Order” shall mean a function/feature in the Platform which once activated by the Client places Orders in Financial Instruments with the Broker automatically on behalf of the Client based on Data generated from Providers.
“Balance” shall mean the total financial result in the Client Account after the last Completed Transaction and depositing/withdrawal operation at any period of time.
“Base Currency” shall mean the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
“Bid” shall mean the lower price in a Quote at which the Client may sell.
“Broker” shall mean a company which offers investment services, of which the Client is a customer for such investment services and which is accepted by the Company to integrate the Platform with its trading infrastructure.
“Business Day” shall mean any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January or any other Cyprus or international holidays to be announced on the Company’s Website.
“Client Account” shall mean an account of the Client in the books of Company which consists of information regarding the trading history of the Client on the Platform, such as details of Completed Transactions, Open Positions and Orders, resulting losses and/or profits from trading and associated Costs payable to the Company. The Company may offer various types of accounts and relevant information can be found on the Website at www.duplitrade.eu
“Closed Position” shall mean the opposite of an Open Position in a CFD Order. “Completed Transaction” in a CFD shall mean two counter deals of the same size (opening a position and closing a position) buy then sell and vice versa in a CFD Order.
“Contract for Differences” or “CFD” shall mean a contract, which is a contract for differences by reference to variations in the price of an Underlying Asset. A CFD is a Financial Instrument under the Company’s CIF license.
“CFD Order” shall mean an Order to trade in a Contract for Difference.
“Contract Specifications” shall mean the principal trading terms in CFD (for example Spread, Swaps, Lot Size, Initial Margin, Necessary Margin, Hedged Margin, the minimum level for placing Stop Loss, Take Profit and Limit Orders, financing charges, charges etc.) for each type of CFD as determined by the Company from time to time. The Contract Specifications appear on the Website and/or Platform.
“Currency of the Client Account” shall mean the currency that the Client Account is denominated in, which may be Euro or any other currency as offered by the Company from time to time.
“Currency Pair” shall mean the object or Underlying Asset of a CFD Transaction based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.
“CySEC” shall mean the Cyprus Securities and Exchange Commission, which is theCompany’s supervisory authority.
“CySEC Rules” shall mean the Rules, Directives, Regulations, Guidance notes, opinions or recommendations of CySEC.
“Data” shall mean the data relating to a Transaction coming from a Provider containing the information about the direction of the Provider’s Transaction on the given Financial Instrument and its time of conclusion.
“Difference” shall mean the difference in price upon the opening of a Transaction and the closing of such Transaction.
“Equity” shall mean the Balance plus or minus any Floating Profit or Loss that derives from an Open Position and shall be calculated as: Equity = Balance + Floating Profit - Floating Loss.
“Essential Details” shall mean the required details in order for the Company to be able to place the Order for example but not limited to the type of Underlying Asset, Direction (Buy/or Sell), Opening price, Closing price, style of the Order, the volume, if the Client places a Pending Order (limit or stop) the Client will indicate the intended price in which the Order will go in the market and any Stop Loss and or Take Profit etc.
“Event of Default” shall have the meaning given in paragraph 27.1.
“Financial Instrument” shall mean the Financial Instruments under the Company’s CIF license which are the following: (a) Transferable Securities; (b) Money-market instruments; (c) Units in collective investment undertakings; (d) Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash; (e) Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event); (f) Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market and/or an MTF; (g) Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in the paragraph above and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls; (h) Derivative instruments for the transfer of credit risk; (i) Financial contracts for differences; (j) Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin calls.
“Floating Loss” in a CFD shall mean current loss on Open Positions calculated at the current Quotes (added any commissions or fees if applicable).
“Floating Profit in a CFD shall mean current profit/loss on Open Positions calculated at the current Quotes (added any commissions or fees if applicable).
“Force Majeure Event” shall have the meaning as set out in paragraph 28.1.
“Forex” shall mean the type of CFD, where the Underlying Asset is a Currency Pair.
“Free Margin” shall mean the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].
“Hedged Margin” for CFD trading shall mean the necessary margin required by the Company so as to open and maintain Matched Positions.
“Initial Margin” for CFD trading shall mean the necessary margin required by the Company so as to open a position.
“Instruction” shall mean an instruction from the Client to open or close a position or to place or delete a CFD Order.
“Introducer” shall have the meaning stated in paragraph 37.1. of the Client Agreement.
“Investment Services” shall mean the Investment Services under the Company’s CIF license and which are (a) Reception and Transmission of Client Orders in relation to one or more Financial Instruments; (b) Portfolio Management Services; (c) Provision of Investment Advice. This Agreement covers only Investment Services which the Company will provide under (a) and (b).
“Leverage” for CFD trading shall mean a ratio in respect of Transaction Size and Initial Margin. 1:100 ratio means that in order to open a position, the Initial Margin is one hundred times less than the Transactions Size.
“License” shall have the meaning of paragraph 6.1.
“Long Position” for CFD trading shall mean a buy position that appreciates in value if underlying market prices increase. For example, in respect of Currency Pairs: buying the Base Currency against the Quote Currency.
“Lot” shall mean a unit measuring the Transaction amount specified for each Underlying Asset of a CFD.
“Lot Size” shall mean the number Underlying Assets in one Lot in a CFD.
“Margin” shall mean the necessary guarantee funds so as to open or maintain Open Positions in a CFD Transaction.
“Margin Call” shall mean the situation when the Company informs the Client to deposit additional Margin when the Client does not have enough Margin to open or maintain open positions.
“Маrgin Level” for CFD trading shall mean the percentage of Equity to Necessary Margin ratio. It is calculated as: Margin Level = (Equity / Necessary Margin) x 100%.
“Margin Trading” for CFD trading shall mean Leverage trading when the Client may make Transactions having less funds on the Client Account in comparison with the Transaction Size.
“Matched Positions” for CFD trading shall mean Long Positions and Short Positions of the same Transaction Size opened on the Client Account for the same CFD.
“Necessary Margin” for CFD trading shall mean the necessary margin required by the Company so as to maintain Open Positions.
“Nickname” shall mean the code name chosen by each Provider used to identify hisTrading Data and Data.
“Normal Market Size” for CFD trading shall mean the maximum number of units of the Underlying Asset that are arranged by the Company for execution.
“Open Position” shall mean any position which has not been closed which is not aCompleted Transaction.
“Order” shall mean an instruction from the Client to trade in Financial Instruments. “Parties” shall mean the parties to this Client Agreement – the Company and the Client.
“Pending Order” means an Order whose execution is conditional upon the occurrence of a particular condition including a limit Order or a stop loss order.
“Platform” shall mean the electronic mechanism operated and maintained by the Company, consisting of computer devices, software, databases, telecommunication hardware, programs and technical facilities, which facilitates trading activity of the Client in Financial Instruments via the Client Account including automated trading activity, exchange of Data, sharing of Trading Data between its users (i.e. the Client and Providers) and information in relation to which can be found on the Website at www.duplitrade.eu
“Politically Exposed Persons” shall mean:
A) natural persons who are or have been entrusted with prominent public functions, which means: heads of State, heads of government, ministers and deputy or assistant ministers; members of parliaments; members of supreme courts, of constitutional courts or of other high-level judicial bodies whose decisions are not subject to further appeal, except in exceptional circumstances; members of courts of auditors or of the boards of central banks; ambassadors, chargés d’affaires and high-ranking officers in the armed forces; members of the administrative, management or supervisory bodies of State-owned enterprises. None of the categories set out in the above shall be understood as covering middle ranking or more junior officials. Further, where a person has ceased to be entrusted with a prominent public function within the meaning of the above definition for a period of at least one year, such persons shall not be considered a Politically Exposed Person.
B) The immediate family members of such persons as set out under definition A, which means: the spouse; any partner considered by national law as equivalent to the spouse; the children and their spouses or partners; and the parents.
C) Persons known to be close associates of such persons as set out under definition A, which means: any natural person who is known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a person referred to in definition A; any natural person who has sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the benefit de facto of the person referred to in definition A.
“Professional Client” shall mean a “Professional Client” for the purposes of CySEC Rules, as specified in Appendix I.
“Provider” shall mean a person who has agreed to provide the Company with Data for Automatic Orders for the Company’s commercial use and whose name will appear on the Company’s Platform and /or website.
“Quote” shall mean the information of the current price for a specific Underlying Asset, in the form of the Bid and Ask prices.
“Quote Currency” shall mean the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.
“Quotes Base” in relation to CFD trading shall mean Quotes Flow information stored on the Server.
“Quotes Flow” shall mean the stream of Quotes in the Platform for each CFD.
“Retail Client” shall mean a “Retail Client” for the purposes of the CySEC Rules, as specified in Appendix I.
“Services” shall mean the services to be offered by the Company to the Client under this Agreement being access and use of the Platform and which involves the services described in paragraphs 6.1. and 6.2 of this Agreement.
“Short Position” for CFD trading shall mean a sell position that appreciates in value if underlying market prices fall. For example, in respect of Currency Pairs: selling the Base Currency against the Quote Currency. Short Position is the opposite of a Long Position.
“Slippage” shall mean the difference between the expected price of a Transaction in a CFD, and the price the Transaction is actually executed at. Slippage often occurs during periods of higher volatility (for example due to due to news events) making an Order at a specific price impossible to execute, when market orders are used, and also when large Orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade.
“Trading Account” shall mean the trading account of the Client held with his Broker.
“Spread” for CFD trading shall mean the difference between Ask and Bid of an Underlying Asset in a CFD at that same moment.
“Swap” or “Rollover” for CFD trading shall mean the interest added or deducted for holding a position open overnight.
“Trading Hours” means the Company’s trading hours which appear on the Website and which the Company may amend from time to time as stated in this Agreement.
“Trading Data” shall mean the historic Data of the Provider or the results of theProvider in relation to a particular Trading Account of his.
“Trailing Stop” shall mean a stop-loss order set at a percentage level below the market price - for a long position. The trailing stop price is adjusted as the price fluctuates. A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached "trailing" amount. As the market price rises, the stop price rises by the trail amount, but if the pair price falls, the stop loss price doesn't change, and a market order is submitted when the stop price is hit.
“Transaction” shall mean a transaction in Financial Instruments arranged for execution on behalf of the Client under this Agreement.
“Transaction Size” for CFD trading shall mean Lot Size multiplied by number of Lots. It is understood that the Company may offer the option to open positions in less than one lot.
“Underlying Asset” shall mean the object or underlying asset in a CFD which may be cash indices, index futures, bond futures, commodity futures, spot crude oil, spot gold, spot silver, single stocks, currencies or any other asset available for CFD trading by each Broker according to his discretion from time to time.
“Underlying Market” shall mean the relevant market where the Underlying Asset is traded.
“Website” shall mean the Company’s website at www.duplitrade.eu or such other website as the Company may maintain from time to time.
“Working Hours” means the Company’s working hours which appear on the Website and which the Company may amend from time to time as stated in this Agreement.
“Written Notice” shall have the meaning set out in paragraph 23.
2.2. Words importing the singular shall import the plural and vice versa. Words importing the masculine shall import the feminine and vice versa. Words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.
2.3. Paragraph headings are for ease of reference only.
2.4. Any reference to any act or regulation or Law shall be that act or regulation or Law as amended, modified, supplemented, consolidated, re-enacted or replaced from time to time, all guidance noted, directives, statutory instruments, regulations or orders made pursuant to such and any statutory provision of which that statutory provision is a re-enactment, replacement or modification.
3.1. After the Client fills in and submits the Account Opening Application Form together with all the required identification documentation required by the Company for its own internal checks, the Company will send the Client a notice informing whether the Client has been accepted as a client of the Company for the purposes of this Agreement. It is understood that the Company is not to be required (and may be unable under Applicable Regulations) to accept a person as its Client until all documentation it requires has been received by the Company, properly and fully completed by such person and all internal Company checks (including without limitation anti-money laundering checks, appropriateness or suitability tests as the case may be) have been satisfied. It is further understood that the Company reserves the right to impose additional due diligence requirements to accept Clients residing in certain countries. It is also agreed and understood that the Company may collect the required documentation from the Broker.
3.2. The Agreement will take effect and commence upon the receipt by the Client of the notice sent by the Company informing the Client that he has been accepted as the Company’s Client and that a Client Account has been opened for him by the Company. If the Client meets with the Company face to face to conclude the Agreement, then the Agreement shall come into force and effect on the signature date.
4. Client Categorisation
4.1. According to Applicable Regulations, the Company will treat every Client as a Retail Client, Professional Client or Eligible Counterparty, depending on the information provided by the Client in his Account Opening Application Form and according to the method of categorisation as this method is explained in the Client Categorisation Policy and by accepting this Agreement the Client accepts application of such method. The Company will inform the Client of his categorisation according to Applicable Regulations. The Client has the right to a request different categorisation as per the provisions of the document titled “Client Categorisation”. Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration practices which could provide an incentive to the Company’s staff to recommend a particular financial instrument to a retail client when the Company could offer a different financial instrument which would better meet that client’s needs are also prohibited. In the case of professional clients and eligible counterparties, the Company may agree to provide more limited information as provided by Applicable Regulations.
4.2. The Client accepts that when categorising the Client and dealing with him, the Company will rely on the accuracy, completeness and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client’s Categorisation and change his Categorisation if this is deemed necessary (subject to Applicable Regulations).
5.1. In providing the service of Portfolio Management the Company is obliged under Applicable Regulations to obtain the necessary information regarding the Client's or potential Client's knowledge and experience in the investment field relevant to the specific type of product or Service, his financial situation and his investment objectives so as to be able to recommend the Investment Services and Financial Instruments that are suitable for him and, in particular, that are in accordance with his risk tolerance and ability to bear losses. Where the Client or potential Client provides insufficient information regarding his knowledge and experience, the Company will not be able to determine whether the Investment Service or Financial Instrument envisaged is suitable for him. The Company shall assume that information about his knowledge and experience provided from the Client to the Company is accurate and complete and the Company will have no responsibility to the Client if such information is incomplete or misleading or changes or becomes inaccurate and the Company will be deemed to have performed its obligations under Applicable Regulations, unless the Client has informed the Company of such changes.
5.2. In providing the Service of Reception, and Transmission of Client Orders, the Company is obliged under Applicable Regulations to seek information from a Client or potential Client regarding his knowledge and experience in the investment field relevant to the specific type of product or Service offered or demanded so as to enable the Company to assess whether the Investment Service or product envisaged is appropriate for the client and, in particular, that are in accordance with his risk tolerance and ability to bear losses. Where the Client or potential Client elects not to provide the information regarding his knowledge and experience, or where he provides insufficient information regarding his knowledge and experience, the Company will not be able to determine whether the Investment Service or Financial Instrument envisaged is appropriate for him. The Company shall assume that information about his knowledge and experience provided from the Client to the Company is accurate and complete and the Company will have no responsibility to the Client if such information is incomplete or misleading or changes or becomes inaccurate and the Company will be deemed to have performed its obligations under Applicable Regulations, unless the Client has informed the Company of such changes.
6. Services – License
6.1. Subject to the Client’s obligations under the Agreement being fulfilled, the Company hereby grants the Client a limited License, which is non-transferable, non-exclusive and fully recoverable, to use the Platform (including the use if the Website and any associated downloadable software made available from time to time).
6.2. The use of the Platform, depending on the functionality / mode chosen by the Client, involves the provision of the following Investment Services from the Company to the Client:
(a) Reception and Transmission of Orders of the Client in Financial Instruments for execution to another entity (known as Straight Through Processing, STP); or
(b) Portfolio Management.
6.3. The Company reserves the right, at its discretion, at any time to withdraw the whole or any part of the Services or the License or the Platform or Website or downloadable software on a temporary or permanent basis and the Client agrees that the Company will have no obligation to inform the Client of the reason for such an action.
6.4 The Company, in its sole discretion, reserves the right to add additional features or functions, or to provide programming fixes, updates and upgrades, to the Platform or Website. You acknowledge and agree that The Company has no obligation to make available to you any subsequent versions of the Platform or Website. Furthermore, you acknowledge and agree that The Company, in its sole discretion, may modify or discontinue or suspend your ability to use any version of the Platform or Website, or terminate any license hereunder, at any time, with immediate effect and without recourse to the courts. The Company may also suspend or terminate any license hereunder and disable the Platform or Website you may already have accessed or installed without prior notice at any time with immediate effect and without recourse to the courts. The Company will not accept any liability in relation to the direct or indirect damages caused by the release and/or the absence of release of new versions of the Platform or Website and/or by the suspension or termination of this agreement by the Company and/or by you.
6.5. It is understood that the Company will not hold any Client money or Securities and therefore it will not offer safe custody and handling of Client money services to the Client.
7. Advice and Commentary
7.1. The Company will not advise the Client about the merits of a particular Transaction or give him any form of investment advice and the Client acknowledges that the Services do not include the provision of investment advice in CFDs or the Underlying Markets. he Client alone will decide which Provider to follow or how to handle his Client Account or Trading Account enter into Transactions and take relevant decisions based on his own judgement.
7.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client may wish to seek independent advice before entering into a Transaction.
7.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) with information, recommendations, news, market commentary or other information but not as part of its Services. Where it does so:
(a) The Company will not be responsible for such information.
(b) The Company gives no representation, warranty or guarantee as to the accuracy, correctness or completeness of such information or as to the tax or legal consequences of any related Transaction.
(c) This information is provided solely to enable the Client to make his own investment decisions and does not amount to investment advice or unsolicited financial promotions to the Client.
(d) If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he will not pass it on to any such person or category of persons.
(e) The Client accepts that prior to dispatch, the Company may have acted upon it itself to make use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he will receive such information at the same time as other clients.
7.4. It is understood that market commentary, news, or other information provided or made available by the Company are subject to change and may be withdrawn at any time without notice.
8. Use of the Platform
8.1. The Platform provides the Client with the ability to use the Automatic Orders. The Client agrees and understands that when activating the Automatic Orders, Orders will be placed automatically for the Client every time a Data from the particular Provider is generated. So, as soon as the Provider places an Order for himself the Platform will automatically send a signal to the Trading Account to copy/imitate the Order or take an opposite Order to that of the Provider (depending on the mode chosen by the Client), subject to paragraph 8.9.
The Company may use different Platforms depending on the Financial Instrument and/or Service to be provided, as the Company may decide from time to time.
8.2. The Automatic Orders allow placement of Orders only on the basis of the Data coming from the Provider after activation of the Automatic Orders mode by the Client.
8.3. The Client will activate the Automatic Orders mode separately for every Financial Instrument. The Client can also activate more than one mode of Automatic Orders on the given Financial Instrument, whilst each of these modes can be based only on the Data coming from different Providers.
8.4. The volume of the Orders is established by the Client while switching on or modifying the mode of Automatic Orders.
8.5. Without prejudice to paragraph 8.8 below, it is agreed and understood that the Automatic Orders do not require the Client’s approval or confirmation or consent each time an Order is placed or his interference in the characteristics of an Order each time an Order is placed. For these purposes, the Client hereby grants to the Company authority to automatically conclude any Transactions or Orders and perform operations with his Trading Account held with the Broker on a discretionary basis without preliminary consultations with or approvals or consent from the Client each time, by automatically copying the same or taking an opposite trading activity of the particular Provider(s) he has chosen. When providing access to such Automatic Orders the Company is considered to be offering to the Client the Investment Service of Portfolio Management of paragraph 6.2(b).
8.6. It is agreed that every time the Client activates or re-activates the Automatic Orders function, he is giving authorization to the Company to automatically and without reference to him copy the same or take an opposite trading activity (as the case may be) of the particular Provider.
8.7. The Client has the right to deactivate the Automatic Orders for a particular Order on the Platform or disconnect from the Provider. From that moment, the Client will take his own decisions regarding his Orders, Opening or Closing or modifying his Positions and the Company will receive and transmit such Client Orders to the Broker for execution according to the particular instructions of the Client. However, the Client acknowledges and accepts that his intervention may frustrate the trading strategy of the Provider and cause losses to the Client. When deactivating Automatic Orders, the Company is considered to be offering to the Client the Investment Service of Reception and Transmission of Client Orders of paragraph 6.2. (a).
8.8. When the Automatic Orders are activated, the Client has the right, provided that this is allowed by his Broker, to modify an Order, close Open Positions, place Stop Loss or Take Profit Orders or take any other actions available on the Platform. However, the Client acknowledges and accepts that his intervention may frustrate the trading strategy of the Provider and cause losses to the Client. When the Client is interfering in the trading activity, the Company is considered to be offering to the Client the Investment Service of Reception and Transmission of Client Orders of paragraph 6.2.a). In addition, if the Client modifies or cancels the Orders of the Provider in the Automatic Orders mode, he will achieve a materially different result than the Provider’s Orders and the Client’s Order will not be automatically closed or changed when the original automatic position is changed or closed by the Provider and the Client may suffer loss as a result.
8.9. Orders placed on the Platform in the Automatic Orders Feature are placed according to the “Summary of the Policy to Act in the Best Interest of the Client” (Appendix IV.) and the Company will exercise its best reasonable efforts so that the Orders placed in the Automatic Orders Feature are placed without undue delay and immediately after the conclusion of the Transaction which is the source of the Data. However, despite the Company’s reasonable efforts, the Client acknowledges that the placing/execution of Orders may be delayed for reasons beyond the control of the Company and even perfect electronic devices do not guarantee that the placement/execution of Client’s Orders will take place at the same or approximate time at which the Provider’s relevant Transaction was concluded or that it will be placed or executed at all.
8.10. The Company will use reasonable efforts to execute or transmit an Order (whether to open or close) but it is agreed and understood that execution or transmission may not always be achieved at all for reasons beyond the control of the Company.
8.11. The Client agrees that all Orders of the Client generated via the Platform in the Automatic Orders Feature will be executed or transmitted for execution only to the Client’s Broker.
8.12. The Company reserves the right, at its discretion, at any time to alter, change, modify, remove or add any part or functionality or command or mode of the Platform(s) without prior notice to the Client.
8.13. The Client acknowledges that the Company is not the Provider or source of Data but only provides the Client with the possibility of tracing the Provider’s Data and gives access to the functionality of Automatic Orders.
8.14. The Company does not guarantee that the Client will be able to access or use the Platform(s) at all times and from any location.
8.15. The Company has the right to shut down the Platform(s) at any time for maintenance purposes without prior notice to the Client, but this will be done only in weekends. In these cases, the Platform will be inaccessible.
8.16. The Client is solely responsible for providing and maintaining the compatible equipment necessary to access and use the Platform(s), which includes at least a personal computer or mobile phone or tablet (depending on the Platform used), internet access by any means and telephone or other access line. Access to the internet is an essential feature and the Client shall be solely responsible for any fees necessary in order to connect to the internet.
8.17. The Client represents and warrants that he has installed and implemented appropriate means of protection relating to the security and integrity of his computer or mobile phone or tablet and that he has taken appropriate actions to protect his system from computer viruses or other similar harmful or inappropriate materials, devices, information or data that may potentially harm the Website, the Platform(s) or other systems of the Company. The Client further undertakes to protect the Company from any wrongful transmissions of computer virus or other similarly harmful or inappropriate material or device to the Platform(s) from his personal computer or mobile phone or tablet.
8.18. The Company will not be liable to the Client should his computer system or mobile phone or tablet fail, damage, destroy and/or format his records and data. Furthermore, if the Client incurs delays and any other form of data integrity problems that are a result of his hardware configuration or mismanagement, the Company shall not be liable.
8.19. The Company will not be liable for any such disruptions or delays or problem in any communication experienced by the Client when using the Platform(s) not caused as a result of the Company’s gross negligence or willful default.
8.20 Orders with the Company are placed on the Platform(s), with the use of Access Data through the Client’s compatible personal computer connected to the internet. It is agreed and understood that the Company will be entitled to rely and act on any Order given by using the Access Data on the Platform(s) or via phone, without any further enquiry to the Client and any such Orders will be binding upon the Client.
8.21 When providing to the Client the Portfolio Management Service, the Company will not (to the extent prohibited by the Law) accept and retain fees, commissions or any monetary or non-monetary benefits paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of this service to clients.
8.22 The Company will provide the Client with an online access to the Platform(s) used by the Client, which will provide him with sufficient information in order to comply with CySEC Rules and Applicable Regulations in regards to client reporting requirements. Where the Company deems that the information that will be provided by the Platform is inadequate and does not meet the requirements of Applicable Regulations, the Company may provide statements to the Client in a durable medium once every three months or if the client’s portfolio is a leveraged portfolio, at least once a month.
8.23 The Client undertakes to and is obliged to assess the performance of his portfolio as well as of individual signal providers which he may be copying from time to time to assess the overall performance of his portfolio and/or any particular financial instrument. The Platform will provide information which will enable the Client to assess whether his portfolio or particular financial instrument has diminished and/or increased in value.
9. Prohibited Actions on the Platform
9.1. The Client shall not unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that the Company has applied to the Platform.
9.2. It is absolutely prohibited for the Client to take any of the following actions:
(a) Use any software, which applies artificial intelligence analysis to the Company’s system and/or Platform.
(b) Intercept, monitor, damage or modify any communication which is not intended for him.
(c) Use any type of spider, virus, worm, Trojan-horse, time bomb or any other codes or instructions that are designed to distort, delete, damage or disassemble the Platform or the communication system or any system of the Company.
(d) Send any unsolicited commercial communication not permitted under applicable law or Applicable Regulations.
(e) Do anything that will or may violate the integrity of the Company computer system or Platform(s) or cause such system(s) to malfunction or stop their operation.
(f) Unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that the Company has applied to the Platform(s).
(g) Perform any action that could potentially allow the irregular or unauthorized access or use of the Platform(s).
(h) Send massive requests on the server which may cause delays in the execution time.
9.3. Internet, connectivity delays and price feed errors sometimes create a situation where the prices displayed on Platform do not actually reflect the market rates, as a result of connectivity delays, upon the occurrence of a market event or an abnormal trading conditions. Trading strategies aimed at exploiting errors in prices and/or concluding trades at off-market prices, or taking advantage of these internet delays (such a scalping or sniping), cannot exist in an OTC market where the Client is buying or selling directly from the market maker. Such trading strategies are not permissible on the Platform. If the Company reasonably suspects that the Client, based on his trading strategy or other behavior, deliberately and/or systematically exploited or attempted to exploit such errors in prices and/or off-market prices, the Company is entitled to take one or more of the following counter measures: (i) restrict or bar access to the Platform; (ii) Terminate this Agreement immediately; (iii) close the Client Account immediately; (iv) report the Client to his Broker; (v) take legal action for any losses suffered by the Company.
10. Placement and Execution of orders
10.1. The Client may place Orders on the Platform(s) by using his Access Data issued by the Company for that purpose and provided all the Essential Details are given.
10.2. The Company will be entitled to rely and act on any Order given by using the Access Data on the Platform(s) or via phone without any further enquiry to the Client and any such Orders will be binding upon the Client.
10.3. Orders placed via phone will be placed by the Company on the Platform and shall appear in the Client Account.
10.4. Orders are executed according to the document titled “Summary of the Policy to Act in the Best Interest of the Client”, which is binding on the Client. Depending on the type of the Client Account, the execution may be done on an own account basis by the Company acting as principal to principal or sent for execution to another entity (known as “straight through processing” or “STP”).
10.5. The Company will use reasonable efforts to transmit a Client Order, but it is agreed and understood that despite the Company’s reasonable efforts transmission may not always be achieved at all for reasons beyond the control of the Company, as explained in documents titled “Summary of the Policy to Act in the Best Interest of the Client”.
10.6. The Client hereby acknowledges and agrees that the Company may, in its sole discretion, add, remove or suspend from the Platform, any Financial Instrument, on any type of Underlying Asset or Market, from time to time in the event of a stock transformation event (for example as the result of a takeover, share consolidation/split, merger, spinoff, MBO, nationalization, de-listing, etc.) or if no Client Positions are held in a particular Financial Instrument at that time.
10.7. Orders may be placed within the normal Trading Hours of the Company, which are made available on its Website and/or the Platform, as these may be amended from time to time.
10.8 In the case where the Client is a legal person it is obliged to obtain a legal entity identifier from an appropriate authority duly licensed to provide legal entity identifiers. In the case of a legal person, the Client may not (where provided by Applicable Regulations) be able to execute any Transactions with the Company if it does not possess a legal entity identifier.
11. Rejection of Client’s Orders, Requests and Instructions
11.1. Without prejudice to any other provisions herein, the Company is entitled, at any time and at its discretion, without giving any notice or explanation to the Client, to cancel Orders, to restrict the Client’s trading activity, to decline or refuse to transmit any Order or Instruction of the Client, and the Client has no right to claim any damages, specific performance or compensation whatsoever from the Company, in any of the following cases:
(a) The Broker decides, for any reason not due to the Company, to reject any or all Orders/Instructions from the Client or the Platform or to consider them as void or the Trading Account of the Client with his Broker is not operating, or is not accessible, or is suspended, or frozen, or closed.
(b) Cut-off times, restrictions or requirements of the Broker apply, which make it impossible for an Order to be executed.
(c) Internet connection or communications are disrupted.
(d) In consequence of request of regulatory or supervisory authorities of Cyprus or a court order.
(e) Where the Company suspects that the Client is engaged in money laundering activities or terrorist financing or other criminal acts.
(f) Where the legality or genuineness of the Order is under doubt.
(g) There is absence of essential detail of the Order or the Order or Instruction is not clear or has more than one interpretation.
(h) Where a Force Majeure Event has occurred.
(i) If an Event of Default by the Client has occurred.
(j) Where the Company has sent a notice of Termination of the Agreement to the Client.
(k) Where the system of the Company rejects the Order as a result of imposed trading limits.
(l) When the Account has reached Stop Out Level as explained under paragraph 7.4.(g) of Table A;
(m) Where abnormal market conditions occur.
(n) Where the Client does not hold adequate funds to his Balance to execute the specific Order.
12. Technical Features and Requirements in relation to the Trading Account
12.1. The Client agrees and understands that the Platform facilitates trading from the Client’s Trading Account held with his Broker and hence requires the Company to connect with the said Trading Account. For this purpose, the Client hereby agrees when necessary to provide the Company with his login details (i.e. login number and password) and the trading history of his Trading Account and authorizes the Company to take all the necessary technical actions in order to achieve connection with the said Trading Account. The Client further undertakes to provide any additional documents or any required Powers of Attorney to the Company or Letters of Direction to the Broker for these purposes. In addition, the Client hereby grants the Company a special power the attorney (SPOA), only when the Automatic Order mode is active, to use when necessary the Client’s Trading Account login details. This SPOA is deemed to be repeated by the Client each time a Data is generated from the chosen Provider.
12.2. The Client is solely responsible for providing and maintaining the compatible equipment necessary to access and use the Platform, which includes at least a personal computer, internet access by any means and telephone or other access line.
Access to the internet is an essential feature and the Client shall be solely responsible for any fees necessary in order to connect to the internet.
12.3. The Client represents and warrants that he has installed and implemented appropriate means of protection relating to the security and integrity of his computer and that he has taken appropriate actions to protect his system from computer viruses or other similar harmful or inappropriate materials, devices, information or data that may potentially harm the Website, the Platform or other systems of the Company. The Client further undertakes to protect the Company from any wrongful transmissions of computer virus or other similarly harmful or inappropriate material or device to the Company Platform from his personal computer.
12.4. The Company will not be liable to the Client should his computer system fail, damage, destroy and/or format his records and data. Furthermore, if the Client incurs delays and any other form of data integrity problems that are a result of his hardware configuration or mismanagement, the Company shall not be liable.
12.5. The Company does not guarantee that the Client will always be able to communicate via the Platform with Providers, Brokers or other third parties, nor does the Company guarantee that the Client can communicate without disruptions, delays or other communication-related flaws. The Company will not be liable for any such disruptions or delays or problem in any communication experienced by the Client when using the Platform.
13. Safety and Security
13.1. The Client will not proceed and avoid proceeding in any action that could potentially allow the irregular or unauthorised access or use of the Platform. The Client accepts and understands that the Company reserves the right, in its discretion, to terminate or limit his access to the Platform if the Company suspects that he allowed such access or use.
13.2. When using the Platform, the Client will not, whether by act or omission, do anything that will or may violate the integrity of the Company computer system or Platform or cause such system(s) to malfunction or stop their operation.
13.3. The Client agrees to keep secret and not to disclose any Access Data to any person.
13.4. The Client should not write down his Access Data. If the Client receives a written notification of his Access Data, he must destroy the notification immediately.
13.5. The Client agrees to notify the Company immediately if he knows or suspects that his Access Data has or may have been disclosed to any unauthorised person. The Company will then take steps to prevent any further use of such Access Data and will issue replacement Access Data. The Client will be unable to place any Orders until he receives the replacement Access Data.
13.6. The Client agrees that he will co-operate with any investigation the Company may conduct into any misuse or suspected misuse of his Access Data.
13.7. The Client acknowledges that the Company bears no responsibility if unauthorized third persons have access to information, including electronic addresses, electronic communication, personal data and Access Data when the above are transmitted between the parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
13.8. If the Company is informed from a reliable source that the Access Data or Client Account number of the Client may have been received by unauthorised third parties, the Company may, at its discretion without having an obligation to the Client, deactivate the Client Account.
14. Intellectual Property
14.1. The Platform, all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme, graphics and data names are the sole and exclusive Intellectual Property (IP) of the Company and are protected by local and international intellectual property laws and treaties. This Agreement does not convey an interest in or to the Platform but only a right to use the Platform according to the terms of this Agreement. Nothing in this Agreement constitutes a waiver of the Company’s intellectual property rights.
14.2. Under no circumstances shall the Client obscure or remove any copyright, trademark or any other notices from any of the Company’s IP or Website or Platform.
14.3. The Company owns all the images displayed on its Website, the Platform and software. The Client may not use these images in any way other than the manner which the Company provides them for.
14.4. The Client is permitted to store and print the information made available to him through the Company’s Website or Platform including text, graphics, video, audio, software code, user interface design or logos. The Client is not permitted to alter, modify, publish, transmit, distribute, otherwise reproduce commercially exploit that information, in whole or in part, in any format to any third party without the Company’s express written consent.
14.5. The Client represents and warrants that he will not use the IP or the Platform or Website in contravention to this Agreement, or for unauthorized or unlawful purposes and that he will use the IP, Platform and Website only for the benefit of his Client Account and not on behalf of any other person.
15. Providers and Trading Data
15.1. The Company will present on the Platform(s) and/or its Website a list of active Providers, their Nicknames and their Trading Data for the Client to choose from for the purposes of Automatic Orders.
15.2. The Client acknowledges that the use or reliance of historical Trading Data of the chosen Provider does not guarantee the future performance or that the Client will not suffer losses.
15.3. In providing the Trading Data or Data of each Provider on the Platform or its Website, the Company is not considered as providing advice or commendations or suggestion or proposal to choose a Particular Provider for Automatic Orders or assurance or guarantee that his future trades will be consistent with his previous Trading Data.
15.4. The Client hereby acknowledges that the Company may at any time terminate its relationship with a Provider for any reason without prior notice and hence the Client will not be able to use the Automatic Orders in relation to that Provider. The Company will not be held liable to the Client for any damages caused as a result of such an event.
15.5. It is agreed and understood that Company only provides the Platform and does not generate, advice on or decide the trading strategy or decisions or activity of the Providers and does not screen or monitor any Data of the Providers.
15.6. It is acknowledged that Trading Data reflect, in particular, the results achieved by the Provider on the account for the whole period in which it concluded transactions on the given Financial Instrument.
15.7. The Trading Data is presented to the Client only to provide a draft view and general information to the Client and it should not be considered as a recommendations or a suggestion or a proposal in relation to any results or conclusions of any trading and especially NOT an invitation to the Client to adopt any specific transactions or investment strategy of a Provider. The Client also acknowledges that the Automatic Orders function is only a mechanism for facilitating trading activity and that Company is not responsible if the Follower’s results on transactions concluded with the use of Automatic Orders are not consistent with the historical results presented in the Provider’s Trading Data.
16. Inactive and Dormant Client Accounts
16.1. If the Client Account is inactive for three months or more the Company reserves the right (after calling or emailing the Client using the last known contact details) to render the account dormant and shall have the right to charge the Client Account a fee of as determined by the Company in its discretion from time to time in the Trading Conditions (depending in the Currency of the Client Account) in order to maintain the Client Account open and any bank or other related charges. The Company shall not need to contact the Client before it starts charging the fee. These fees will appear on the Website.
16.2. If the Client Account is inactive for one year or more, the Company reserves the right (after calling or emailing the Client using the last known contact details) to close the account.
17. Third Party Authorization
17.1. The Client has the right to authorise a third person to access the Platform on his behalf or to handle any other matters related to the Client Account or this Agreement, provided the Client notifies the Company in writing of exercising such a right and this person is approved by the Company fulfilling all of the Company specifications for this.
17.2. Unless the Company receives a written notification from the Client for the termination of the authorisation of the person as described in paragraph 17.3., the Company will continue accepting Instructions and/or Orders and/ or other instructions relating to the Client Account given by this person on the Client’s behalf and the Client will recognize such Orders as valid and committing to him.
17.3. The written notification for the termination of the authorization to a third party has to be received by the Company with at least 5 days’ notice prior to the termination of the authorization date.
17.4. Even if the Company accepts the appointment of a representative as authorized to act on behalf of the Client, the Company reserves the right to dismiss and/or reject Orders or Instructions given by such representative and to stop considering him as representative of the Client, at any time, when the Company bona fide believes that the representative is not properly authorized to act as such or breaches this Agreement or is engaged into illegal acts or may engage the Company into illegal acts or if the Company continues accepting Orders or Instructions by such representative may be in breach of Applicable Regulations or suffer loss or damages (including fiscal and reputational damages).
18.1. The Client will pay a markup on the spread offed by the Broker for the Provision of the Services hereunder.
18.2. The Client is hereby informed that the Company will be paid a fee from the Broker, in a way and frequency agreed between them, for the provision of access to the Platform by the Company to the Client. The Company will upon request from the client provide on an annual basis with information of the exact amount of the payment paid on an ex-post basis. Such a fee is designed to enhance the quality of the service offered to the Client.
18.3. The Client is informed that the Company will pay the Provider a fee for the provision of the Data on the Website. For the Client’s convenience, the applicable fees for each Provider are disclosed to the Client on the Website at www.duplitrade.eu. The Company will also provide its clients on an annual basis with information of the exact amount of the payment paid on an ex-post basis. Such a fee is designed to enhance the quality of the service offered to the Client.
18.4. It is understood that the Broker will charge the Client its own fees for the provision of its own brokerage and execution services including the execution of Orders/Transactions generated from the Platform. In addition, by switching the Automatic Orders Features one, the Client may incur additional costs from his Broker. For the Client’s convenience, the applicable fees for each Broker are disclosed to the Client on the Website at www.duplitrade.eu. So, before the Client begins to trade, he should make himself aware of all commissions and other charges for which he will be liable, as specified by the particular Broker. Finally, it is understood that the Company does not have any decision-making power over such fees of his Broker.
18.5. If any fees or charges are not expressed in monetary terms (but, for example, as a percentage of contract value), the Client should ensure that he understands what such charges are likely to amount to and seek advice if he cannot understand them, before he begins to trade.
18.6. The Client shall be solely responsible for all filings, tax returns and reports on any Transactions which should be made to any relevant authority, whether governmental or otherwise, and for payment of all taxes (including but not limited to any transfer or value added taxes), arising out of or in connection with any Transaction.
18.7. The Client undertakes to pay all stamp expenses relating to this Agreement and any documentation which may be required for the currying out of the transactions under this Agreement.
18.8. The Company may vary its fees from time to time. The Company will send a Written Notice to the Client informing of any changes, before they come into effect. The variation will take effect from the date which the Company specifies in its notification to the Client.
19. Netting and Set-Off
19.1. If the aggregate amount payable by the Client is equal to the aggregate amount payable by the Company, then automatically the mutual obligations to make payment are set-off and cancel each other. The Company offers negative balance protection on a per account basis and at no point will the maximum loss for the Client exceed the Client’s available funds in the specific account.
20. Trade Confirmations and Reporting
20.1. The Company shall provide the Client with adequate reporting on Transactions. For this reason, the Company will provide the Client with an online access to his Client Account via the Platform, which will provide him with sufficient information in order to comply with CySEC Rules in regards to client reporting requirements. In order to comply with CySEC Rules in regards to Client reporting requirements, the Company will provide the Client with a continuous an online access to his Client Account via the Platform(s) used by the Client; the Client will be able to see in his Client Account the status of his Order, confirmation of execution of the Order as soon as possible (including the trading date, time, type of Order, venue identification, instrument identification, the buy/sell indicator, the nature of the Order, the unit quantity, total consideration, total sum of commissions and expenses, the Client’s Counterparty) his trading history, his Balance and other information. Furthermore, the Company shall supply the Client, on request, with information about the status of his Order.
20.2 The Client has the right to ask the Company to send reports by email, fax or on paper by post.
20.3. The Client is entitled to make written objections for mistakes to the reporting or trade confirmations 10 (ten) Business Days from the date the Company sends it. If the Client expresses no objections during this period, the content is considered as approved by him.
20.4. In relation to the Service of Portfolio Management the periodic reporting of the company shall include a fair and balanced review of the activities undertaken and of the performance of the portfolio during the relevant period as well as the following information:
(a) The time period for which the information is contained in the report relates to.
(b) Company name.
(c) The full name, in case of a physical person or the trade name in case of a legal person or other designation of the Client Account.
(d) A statement of the contents and the valuation of the Portfolio, including details of each Financial Instrument held, its market value, or fair value if market value is unavailable and the cash balance at the beginning and at the end of the reporting period, and the performance of the portfolio during the reporting period.
(e) The total amount of fees and charges incurred during the reporting period, itemizing at least total management fees and total costs associated with execution, and including, where relevant, a statement that a more detailed breakdown will be provided on request.
(f) A comparison of performance during the period covered by the statement with the investment performance benchmark if so agreed between the Company and the Client.
(g) The total amount of dividends, interest and other payments received during the reporting period in relation to the Client's Portfolio.
(h) Information about other Corporate Actions giving rights in relation to financial instruments held in the Portfolio.
(i) Unless the Client elects to receive information about executed transactions on a transaction-by-transaction basis immediately after each executed Order in a durable medium, the following information for each Transaction executed during the period where relevant:
- the trading day;
- the trading time;
- the type of the order;
- the venue identification;
- the instrument identification;
- the buy/sell indicator;
- the nature of the order if other than buy/sell;
- the quantity;
- the unit price;
- the total consideration;
- the total commissions and expenses.
(j) Other information in accordance to Applicable Regulations.
20.5. It is understood that the information of paragraph 20.4 will be provided on the Platform by the Broker.
20.6. It is understood that under Applicable Regulations reporting addressed to Professional Clients and Eligible Counterparties may not include all the information of paragraph19.
20.7 The Company will, depending on the Transaction and on whether it should be reported under Applicable Regulations, report the Transactions to the competent authority as provided by Applicable Regulations as quickly as possible and no later than the close of the following Business Day.
20.8 The Company will publish annually the information required in regard to Execution Venues as required by Applicable Regulations in a machine-readable electronic format, available for downloading by the Client.
21. Fees, Taxes and Inducements
21.1. The provision of the Services by the Company, depending on the type of Financial Instrument traded, may be subject to payment of fees such as brokerage fees, commissions, swaps, special service and other fees. These are found on the Commissions, Charges and Fees Catalogue the Website at the link www.duplitrade.eu and/or the Platform.
21.2. It is agreed and understood that the Client shall be solely responsible for all filings, tax returns and reports which should be made to any relevant authority, whether governmental or otherwise, and for payment of all taxes (including but not limited to any transfer or value added taxes), arising out of or in connection with his trading activity with the Company hereunder.
21.3. The Client undertakes to pay all stamp expenses relating to this Agreement and any documentation which may be required for the carrying out of the transactions under this Agreement.
21.4. Should the Company pay or receive any fees, costs or inducements for the introduction of the Client or associated with trading in CFDs, it shall notify the Client according to Applicable Regulations. At least once a year, the Company will inform its clients on an individual basis about the actual amount of payments received. The Client will also be informed of the applicable prices, charges and spreads and any terms and conditions. This does not affect the commitment of the Company to offer the same level and quality of service to all Clients. The Company will also provide its clients on an annual basis with information of the exact amount of the payment paid on an ex-post basis. Such a fee is designed to enhance the quality of the service offered to the Client.
The Company’s official language is the English language and the Client should always read and refer to the main Website for all information and disclosures about the Company and its activities. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.
23. Communications and Written Notices
23.1. Unless the contrary is specifically provided in this Agreement, any notice, request or other communication to be given to the Company by the Client under the Agreement shall be in writing and shall be sent to the Company’s address below (or to any other address which the Company may from time to time specify to the Client for this purpose) by email, facsimile, post if posted in Cyprus, or airmail if posted outside Cyprus, or commercial courier service and shall be deemed delivered only when actually received by the Company at:
Address: Modestou Panteli 4, Mesa Yeitonia, 4003, Limassol, Cyprus
Tel: +357-25-654 092
23.2. In order to communicate with the Client, the Company may use any of the following methods: email, Platform’s internal mail, facsimile transmission, telephone, post, commercial courier service, air mail or the Company’s Website. The methods of communication specified in this paragraph are also considered a Written Notice.
23.3. Any communications sent to the Client (documents, notices, confirmations, statements, reports etc.) are deemed received:
(a) If sent by email, within one hour after emailing it and provided the email has left from the Company’s outlook.
(b) If sent by the Platform’s internal mail, immediately after sending it.
(c) If sent by facsimile transmission, upon receipt by the sender of a transmission report from its facsimile machine confirming receipt of the message by recipient’s facsimile machine during the hours at which they are open for business at its destination.
(d) If sent by telephone, once the telephone conversation has been finished.
(e) If sent by post, seven calendar days after posting it.
(f) If sent via commercial courier service, at the date of signing of the document on receipt of such notice.
(g) If sent by air mail, eight Business Days after the date of their dispatch.
(h) If posted on the Company Webpage, within one hour after it has been posted.
23.4. In order to communicate with the Client, the Company will use the contact details provided by the Client whilst opening the Client Account or as updated later on. Hence, the Client has an obligation to notify the Company immediately of any change in the Client’s contact details.
23.5. Faxed documents received by the Company may be electronically scanned and reproduction of the scanned version shall constitute conclusive evidence of such faxed instructions.
23.6 The Client shall be able to call the Company within its Working Hours. The Company may contact the Client outside its Working Hours.
23.7 Any Written Notices sent to the Company shall have to be received within the Working Hours of the Company. Notwithstanding paragraph 23.3, any Notices received outside the Working Hours shall be treated as being received the following Business Day.
24. Personal Data, Confidentiality, Recording of Telephone Calls and Records
24.2. The Company will use, store, process and handle personal information provided by the Client (in case the Client is a natural person) in connection with the provision of the Services, in accordance with the General Data Protection Regulation (EU) 2016/679 and the Company is obliged to supply the Client, on request, with a copy of personal data which it holds about the Client (if any) as well as enable the Client where the Client is an individual to exercise their rights under applicable personal data protection law.
24.3. Client information which the Company holds is to be treated by the Company as confidential and will not be used for any purpose other than in connection with the provision, administration and improvement of the Services, anti-money laundering and due diligence checks, for research and statistical purposes and for marketing purposes (if the Client’s consent is obtained where he is a natural person). Information already in the public domain, or already possessed by the Company without a duty of confidentiality will not be regarded as confidential.
24.4. The Company has the right to disclose Client information (including recordings and documents of a confidential nature, card details) in the following circumstances:
(a) Where required by law or a court order by a competent Court.
(b) Where requested by CySEC or any other regulatory authority having control or jurisdiction over the Company or the Client or their associates or in whose territory the Company has Clients.
(c) To relevant authorities to investigate or prevent fraud, money laundering or other illegal activity.
(d) To the Broker so as to execute Client Instructions or Orders and for purposes ancillary to the provision of the Services.
(e) To credit reference and fraud prevention agencies, third authentication service providers, banks and other financial institutions for credit checking, fraud prevention, anti-money laundering purposes, identification or due diligence checks of the Client. To do so they may check the details the Client supplied against any particulars on any database (public or otherwise) to which they have access. They may also use Client details in the future to assist other companies for verification purposes. A record of the search will be retained by the Company.
(f) To the Company’s professional advisors provided that in each case the relevant professional shall be informed about the confidential nature of such information and commit to the confidentiality herein obligations as well.
(g) To other service providers who create, maintain or process databases (whether electronic or not), offer record keeping services, email transmission services, messaging services or similar services which aim to assist the Company collect, storage, process and use Client information or get in touch with the Client or improve the provision of the Services under this Agreement.
(h) To a Trade Repository or similar under the Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties (CCPs) and trade repositories (TRs) (EMIR).
(i) To other service providers for statistical purposes in order to improve the Company’s marketing, in such a case the data will be provided in an aggregate form.
(j) To market research call centers that provide telephone or email surveys with the purpose to improve the services of the Company.
(k) Where necessary in order for the Company to defend or exercise its legal rights to any court or tribunal or arbitrator or Ombudsman or governmental authority.
(l) At the Client’s request or with the Client’s consent.
(m) To an Affiliate of the Company or any other company in the same group of theCompany.
24.5. If the Client is an individual, the Company is obliged to supply the Client, on request, with a copy of personal data which it holds about the Client (if any), provided that the Client pays an administrative fee.
24.6. Telephone conversations and communications between the Client and the Company as well as well as internal communications which relate to the Client ‘s affairs and/or Transactions and/or Orders will be recorded and kept by the Company and such recordings will be the sole property of the Company. The Client accepts such recordings and communications as conclusive evidence of the Orders/Instructions or conversations so recorded. A copy of such recordings and communications as well as internal communications which relate to the Client ‘s affairs and/or Transactions and/or Orders will be available on request by the Client for a period of five years and where requested by CySEC for a period of up to seven years.
24.7. The Client accepts that the Company may, for the purpose of administering the terms of the Agreement, from time to time, make direct contact with the Client by telephone, fax, email, or post.
248. The Client accepts that the Company or any Affiliate of the Company or any other company in the same group of the Company may make contact with the Client, from time to time, by telephone, fax, email or post for marketing purposes to bring to the Client’s attention products or services that may be of interest to him or to conduct market research.
24.9. Under Applicable Regulations, the Company will keep records containing Client personal data, trading information, account opening documents, communications and anything else which relates to the Client for at least five years after termination of the Client Agreement.
24.10. The Client hereby gives his express consent for the provision of his identification information and related documents from the Broker to the Company in order for the Company comply with Applicable Regulations.
23.11. The Client hereby gives his express consent for the provision of information concerning his trading history in his Trading Account from the Broker to the Company.
25. Amendment of the Agreement
25.1. Unless provided differently elsewhere in this Agreement, the Company has the right to amend the terms of the Agreement at any time giving to the Client at least three Business Days Written Notice prior to such changes. Any such amendments will become effective on the date specified in the notice. The Client acknowledges that a variation which is made to reflect a change of law or regulation may, if necessary, take effect immediately.
24.2. The Company may upgrade the Client Account, convert Client Account type, upgrade or replace the Platform or enhance the services offered to the Client if it reasonably considers this is to the Client’s advantage and there is no increased cost to the Client.
26. Termination of the Agreement
26.1. Each Party may terminate this Agreement with immediate effect by giving at least five Business Days’ Written Notice to the other Party.
26.2. Termination by any Party will not affect any obligation which has already been incurred by either Party or any legal rights or obligations which may already have arisen under the Agreement or any Transactions made hereunder.
26.3. Upon termination of this Agreement, all amounts payable by the Client to the Company will become immediately due and payable including (but without limitation)all outstanding costs and any other amounts payable to the Company, any charges and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement. Prior or upon Termination, the Company will give instructions to the Broker to pay the Company the above amounts.
26.4. Once notice of termination of this Agreement is sent and before the termination date:
(a) the Client will have an obligation to close all his Open Positions. If he fails to do so, upon termination, the Company will close any Open Positions;
(b) the Company will be entitled to cease to grant the Client access to the Platform(s) or may limit the functionalities the Client is allowed to use on the Platform(s);
(c) the Company will be entitled to refuse to accept new Orders from the Client;
(d) the Company will be entitled to refuse to the Client to withdraw money from the Client Account and the Company reserves the right to keep Client’s funds as necessary to close positions which have already been opened and/or pay any pending obligations of the Client under the Agreement.
26.5. Upon Termination any or all the following may apply:
(a) The Company has the right to combine any Client Accounts of the Client, to consolidate the Balances in such Client Accounts and to set off those Balances;
(b) The Company has the right to close the Client Account(s);
(c) The Company has the right to convert any currency;
(d) The Company has the right to close out the Client’s Open Positions;
(e) In absence of illegal activity or suspected illegal activity or fraud of the Client or instructions from the relevant authorities, if there is Balance in the Client’s favour, the Company will (after withholding such amounts that in the Company’s absolute discretion considers appropriate in respect of future liabilities) pay such Balance to the Client as soon as reasonably practicable and supply him with a statement showing how that Balance was arrived at and, where appropriate, instruct any Nominee or/and any Custodian to also pay any applicable amounts. Such funds shall be delivered in accordance to the Client’s Instructions to the Client. It is understood that the Company will affect payments only to an account in the name of the Client. The Company has the right to refuse, at its discretion, to effect thirty party payments.
27.1. Each of the following constitutes an “Event of Default”:
(a) The failure of the Client to perform any obligation due to the Company.
(b) If an application is made in respect of the Client pursuant to the Cyprus Bankruptcy Act or any equivalent act in another Jurisdiction (if the Client is an individual), if a partnership, in respect of one or more of the partners, or if a company, a receiver, trustee, administrative receiver or similar officer is appointed, or if the Client makes an arrangement or composition with the Client’s creditors or any procedure which is similar or analogous to any of the above is commenced in respect of the Client.
(c) The Client is unable to pay the Client’s debts when they fall due.
(d) Where any representation or warranty made by the Client in paragraph 30 is or becomes untrue.
(e) The Client (if the Client is an individual) dies or is declared absent or becomes of unsound mind.
(f) Any other circumstance where the Company reasonably believes that it is necessary or desirable to take any action set out in paragraph 27.2.
(g) An action set out in paragraph 27.2 is required by a competent regulatory authority or body or court.
(h) The Client or its Authorised Representative involves the Company in any type of fraud or illegality or breach of Applicable Regulations or in the Company’s opinion is at risk of involving the Company in any type of fraud or illegality or breach of Applicable Regulations.
(h) In cases of material violation by the Client of the requirements established by legislation of the Republic of Cyprus or other countries, such materiality determined in good faith by the Company.
(i) If the Company suspects that the Client or its Authorised Representative is engaged into money laundering activities or terrorist financing or other criminal activities.
(j) The Company reasonably suspects that the Client performed a prohibited action as set out in paragraph 9.
(k) The agreement between the Client and the Broker is terminated or the TradingAccount of the Client with the Broker freezes or is suspended or closed.
27.2. If an Event of Default occurs the Company may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
(a) Terminate this Agreement without prior notice to the Client.
(b) Close out all or any of the Client’s Open Positions at current prices.
(c) Temporarily or permanently bar access to the Platform or suspend or prohibit any functions of the Platform.
(d) Reject any Orders of the Client.
28. Force Majeure
28.1. A Force Majeure Event includes without limitation each of the following:
(a) Government actions, the outbreak of war or hostilities, the threat of war, acts of terrorism, national emergency, riot, civil disturbance, sabotage, requisition, or any other international calamity, economic or political crisis.
(b) Act of God, earthquake, tsunami, hurricane, typhoon, accident, storm, flood, fire, epidemic or other natural disaster.
(c) Labour disputes and lock-out.
(d) Suspension of trading on a Market, or the fixing of minimum or maximum prices for trading on a Market, a regulatory ban on the activities of any party (unless the Company has caused that ban), decisions of state authorities, governing bodies of self-regulating organizations, decisions of governing bodies of organized trading platforms.
(e) A financial services moratorium having been declared by appropriate regulatory authorities or any other acts or regulations of any regulatory, governmental, supervisory, regulatory or supranational body or authority.
(f) Breakdown, failure or malfunction of any electronic, network and communication lines (not due to the bad faith or wilful default of the Company).
(g) Any event, act or circumstances not reasonably within the Company’s control and the effect of that event(s) is such that the Company is not in a position to take any reasonable action to cure the default.
(h) The imposition of limits or special or unusual terms on the trading in any such market or on any such event.
(i) The suspension, closure or freezing of the Trading Account of the Client with the Broker, the rejection of Orders from the Broker, or any action or omission of the Broker or the breakdown, failure, malfunction, or suspension of any of the Broker’s trading systems.
28.2. If the Company determines in its reasonable opinion that a Force Majeure Event exists (without prejudice to any other rights under the Agreement) the Company may without prior notice and at any time take any or all of the following steps:
(a) Suspend or modify the application of any or all terms of the Agreement to the extent that the Force Majeure Event makes it impossible or impractical for the Company to comply with them.
(b) Take or omit to take all such other actions as the Company deems to be reasonably appropriate in the circumstances with regard to the position of the Company, the Client and other clients.
(c) Shut down the Platform in case of malfunction for maintenance or to avoid damage.
(d) Close out Client Open Positions so as not to expose the Client to risk.
(e) Refuse to accept Orders from Clients.
(f) Deactivate the Client Account.
(g) Increase margin requirements without notice.
(h) Close out any or all Open Positions at such prices as the Company considers in good faith to be appropriate.
(i) increase Spreads
(j) Decrease Leverage.
(f) terminate this Agreement by Written Notice to the Client.
28.3. Except as expressly provided in this Agreement, the Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing its obligations under this Agreement where such failure, interruption or delay is due to a Force Majeure event.
29. Limitations of Liability and Indemnity
29.1. In the event the Company provides information, recommendations, news, information relating to transactions, market commentary or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise), the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any such information given. Subject to the right of the Company to void or close any Transaction in the specific circumstances set out the Agreement, any Transaction following such inaccuracy or mistake shall nonetheless remain valid and binding in all respects on both the Company and the Client.
29.2. The Company will not be held liable for any loss or damage or expense or loss incurred by the Client in relation to, or directly or indirectly arising from but not limited to:
(a) Any error or failure or interruption or disconnection in the operation of the Platform(s) or of the Automatic Orders Function or of the trading systems of the Broker or the Company, or any delay caused by the Client Terminal or Transactions made via the Client Terminal, any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects.
(b) Any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control.
(c) The acts, omissions or negligence of any third party including the Broker and the Provider.
(d) Any person obtaining the Client’s Access Data that the Company has issued to the Client prior to the Client’s reporting to the Company of the misuse of his Access Data.
(e) Unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and Access Data when the above are transmitted between the Parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
(f) A delay transmitting any Order for execution with the Broker.
(g) The currency risk materialises, or Slippage occurs or any of the risks relating toCFDs trading materialises.
(h) Any of the risks of the “Risk Warnings and Acknowledgements” (Appendix III.)materialises.
(i) Any changes in the rates of tax.
(j) Any actions or representations of the Introducer.
(k) The Client using Trailing Stop and/or Expert Advisor.
(l) The Client relying in Stop Loss Orders.
(m) The Company terminating its relationship with the Provider or the Broker.
(n) The Provider or the Broker terminating their relationship with the Company for any reason.
(o) The contents, correctness, accuracy and completeness of any communication spread by the use of the Platform(s).
(p) Any acts or omissions (including negligence and fraud) of the Client and/or the Authorised Representative of the Client.
(q) As a result of the Client engaging in Social Trading (if applicable).
29.3. If the Company, its Directors, Officers, employees, Affiliates, or Agents incur any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the use of the Platform, that the Company, its Directors, Officers, employees, Affiliates, or Agents bear no responsibility whatsoever, it is the Client’s responsibility to indemnify the Company for such.
29.4. The Company shall in no circumstances be liable to the Client for any consequential, special, incidental or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses the Client may suffer in relation to the Agreement, the provision of the Services or the use of the Platform.
29.5. The Company’s cumulative liability to the Client shall not exceed the fees paid to the Company under this Agreement in relation to the particular Client for the Provision of the Services and use of the Platform.
30. Representations and Disclaimer of Warranties
The Client represents and warrants to the Company the following:
(a) The Clien (if a natural person) is at least 18 years old, or the age of legal consent for engaging in financial investment activities under the laws of any jurisdiction that applies to him.
(b) Where the Client is a natural person, that the Client is of sound mind and capable of taking decisions for his own actions.
(c) There are no restrictions on the markets or financial instruments in which anyTransactions will be sent for execution, depending on the Client’s nationality orreligion.
(d) All actions performed under the Agreement will not violate any law or rule applicable to the Client or to the jurisdiction in which the Client is resident, or any agreement by which the Client is bound or by which any of the Client’s assets or funds are affected.
(e) The Client is duly authorised to enter into the Agreement, to give Orders andInstructions to perform its obligations hereunder.
(f) The Client is the individual who has completed the Account Opening Application Form or, if the Client is a company, the person who has completed Account Opening Application Form on the Client’s behalf is duly authorised to do so.
(g) The Client is acting as a principal and not as agent or representative or trustee or custodian on behalf of someone else. The Client may act on behalf of someone else only if the Company specifically consents to this in writing and provided all the documents required by the Company for this purpose are received.
(h) The information provided by the Client to the Company in the Account Opening Application Form and at any time thereafter is true, accurate and complete and the documents handed over by the Client are valid and authentic.
(i) The Client has read and fully understood the terms of the Agreement including the information in the Appendices.
(j) The Client funds used for trading are not in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for terrorist financing.
(k) The Client is not a Politically Exposed Person and does not have any relationship (for example relative or business associate) with a person who holds or held in the last twelve months a prominent public position. If the above statement is untrue and in the event that the Client has not disclosed this already in the Account Opening Application Form, he will inform the Company as soon as possible will notify the Company if at any stage during the course of this Agreement he becomes a Politically Exposed Person.
(l) The Client is not from the USA, North Korea, Canada, New Zealand and Iran, as the Company does not accept Clients from these countries.
(J) There are risks associated with utilizing an Internet-based trading services including, but not limited to, hardware, software or Internet connection. Since the Company does not control the signal strengths, its reception or routing via Internet, configuration of your hardware or software, or reliability of your Internet connection, you agree that you are solely responsible for such failures, including communication failures, disruptions, distortions and delays in trading. The Company does not guarantee that the functions contained in the Service will meet your requirements or that the operation of the Service will be uninterrupted or error free. The entire risk as to the quality and performance of the Service is with you.
(K) Volatility or illiquidity in the Investment Products markets may prevent orders from being executed at advantageous prices, or at all.
(L) The Company recommends that you display caution when using a handheld mobile device (e.g. iPhone) or a tablet for trading purposes or receiving data from the Company Application. Handheld mobile devices and tablets dependent on wireless connectivity, are subject to the limitations of WiFi and other mobile networks limitations and restrictions and may not provide you with the same functions as accessing the Company Application from a web browser. The Company shall not be held liable to any person for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages) resulting from the investor’s use of a handheld mobile device or a tablet.
31. Client Acknowledgements of Risk and Consents
31.1. The Client unreservedly acknowledges and accepts:
(a) All the risks and warnings of the Risk Disclosure
(b) That trading in CFDs is not suitable for all members of the public and the Client runs a great risk of incurring losses and damages as a result of trading in CFDs and accepts and declares that he is willing to undertake this risk. The damages may include loss of all his money and also any additional commissions and other expenses.
(c) That CFDs carry a high degree of risk. The gearing or leverage often obtainable in CFDs means that a small deposit or down payment can lead to large losses as well as gains. It also means that a relatively small movement can lead to a proportionately larger movement in the value of the Client’s investment and this can work against him as well as for him. CFD Transactions have a contingent liability, and the Client should be aware of the implications of this in particular the margining requirements.
(d) That trading on an electronic platform (including the Platform of the Company)carries risks.
(e) That he will not be entitled to delivery of, or be required to deliver, the Underlying Asset of the CFD, nor ownership thereof or any other interest therein.
(f) When trading in CFDs the Client is trading on the outcome of the price of an Underlying Asset and that trading does not occur on a Regulated Market but Over-The-Counter (OTC).
31.2. The Client consents to the provision of the information of the Agreement (including this “End User-Client Agreement” and all the Appendices) by means of a Website.
31.3. The Client confirms that he has regular access to the internet and consents to the Company providing him with information, including, without limitation, information about amendments to the terms and conditions, costs, fees, this Agreements, Policies and information about the nature and risks of investments by posting such information on the Website.
32. Complaints and Disputes
32.1. If the Client wishes to report an error or a complaint, he must send an email to the Company’s Customer Support Department at firstname.lastname@example.org The Company will try to reply within five Business Days from the receipt of the Client complaint. If the complaint requires further investigation and the Company cannot resolve it within five Business Days, the Company will issue a holding response. When a holding response is sent, it will indicate when the Company will make further contact (which should be within eight weeks of receipt of the Complaint).
32.2. If a situation arises which is not expressly covered by this Agreement, the Parties agree to try to resolve the matter on the basis of good faith and fairness and by taking such action as is consistent with market practice.
32.3. It is noted that the Client may have the right to make a complaint at the Financial Ombudsman as provided by Applicable Regulations.
32.4. The Client’s right to take legal action remains unaffected by the existence or use of any complaints procedures referred to above.
33. Applicable and Governing Law and Applicable Regulations
33.1. If a settlement is not reached by the means described in paragraph 32, all disputes and controversies arising out of or in connection with the Agreement shall be finally settled in a Cypriot court in the Republic of Cyprus.
33.2. This Agreement is governed by the Laws of the Republic of Cyprus.
33.3. Notwithstanding any other provision of this Agreement, in providing Services to the Client the Company shall be entitled to take any action as it considers necessary in its absolute discretion to ensure compliance with the relevant market rules and or practices and all other applicable laws.
33.4. All transactions on behalf of the Client shall be subject to Applicable Regulations and any other public authorities which govern the operation of the Cyprus Investment Firms, as they are amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers desirable in view of compliance with the Applicable Regulations in force at the time. Any such measures as may be taken and the Applicable Regulations in force shall be binding on the Client.
Should any part of this Agreement be held by any Court of competent jurisdiction to be unenforceable or illegal or contravene any rule, regulation or by law of any Market or regulator, that part will be deemed to have been excluded from this Agreement from the beginning, and this Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
35. Non-Exercise of Rights
The Company’s failure to seek redress for violations, or to insist upon strict performance, of any condition or provision of this Agreement, or its failure to exercise any or part of any of right or remedy to which the Company is entitled under this Agreement, shall not constitute an implied waiver thereof.
36.1. The Company may at any time transfer, assign or novate any of its rights, benefits or obligations under this Agreement subject to providing previous notification to the Client.
36.2. The Client may not transfer, assign, charge, novate or otherwise transfer or purport to do so the Client’s rights or obligations under the Agreement without prior written consent of the Company.
37.1. In cases where the Client is introduced to the Company through a third person (“Introducer”), the Client acknowledges that the Company is not responsible or accountable for the conduct and/or representations of the Introducer and the Company is not bound by any separate agreements entered into between the Client and the Introducer.
37.2. The Client acknowledges and confirms that his agreement or relationship with the Introducer may result in additional costs, since the Company may be obliged to pay commission fees or charges to the Introducer. If such apply they will be disclosed to the Client.
37.3. Please be aware that some of the websites that you may link to through this website are not supported by The Company. Due to the fact that the material made available on these websites is not under the control of The Company, we make no representation to you about these websites nor the material you may find there. The fact that The Company has linked to these websites does not constitute an endorsement or recommendation of any kind.
38. Electronic Signatures and Agreement(s):
You acknowledge and agree to the use of electronic communication in order to enter into contracts, place orders and other records and to the electronic delivery of notices, policies and records of transactions initiated or completed through the Application. Furthermore, you hereby waive any rights or requirements under any laws or regulations in any jurisdiction which require an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under applicable mandatory law
39.1. All rights and remedies provided to the Company under the Agreement are cumulative and are not exclusive of any rights or remedies provided by law.
39.2. Where the Client comprises two or more persons, the liabilities and obligations under the Agreement shall be joint and several. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client.
39.3. It is agreed and understood that only Brokers approved by the Company may be used for the purposes of this Agreement.