Trade Responsibly: Contracts for Difference ("CFDs") are derivative financial products that are traded on margin. Trading on margin carries a significant level of risk, since leverage can magnify your profits as well as your losses. Thus, Leveraged Products may not be suitable for you, as you may lose all your invested capital. You should not risk more than you are prepared to lose.
A reference in this document to "we", "us", "our", "ours", "company" and "ourselves" (as appropriate) is a reference to Wave Makers LTD (Co No: 103581), Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 regulated by IFMRRC under the License number: TSBF RU 0395 AA VI215.
A reference to "you", "your", "Customer" is a reference to you, the Client.
These terms (including any Schedules), once we have accepted your application and opened a Trading Account for you, will form an agreement (Agreement) between us and you and will govern all Transactions entered into between us and you and all dealings between us.
For your benefit and protection, please ensure you take sufficient time to read the Agreement as well as any other additional documentation and information available to you on our Website prior to opening an account and/or carrying out any activity with us. You should contact us for any further clarification or seek independent professional advice (if necessary).
All the Financial Products or financial services are subject to the general terms in this Agreement (including the Schedules) which apply to particular financial services you may receive or particular Financial Products we issue to you.
You should read this Agreement carefully, including any other disclosure documents that we supply to you in connection with your Account.
By accepting these terms, you enter into a legally binding agreement with us. You acknowledge that you have read and understood the terms of the Agreement.
We do not provide investment, financial, legal, tax or regulatory advice nor do we provide any other form of recommendation. You understand that you shall make your own assessment of any transaction prior to entering into a trade, and shall not rely on any opinion, material or analysis provided by us or any of our affiliates, employees, or other related parties as being advice or recommendation. If you are unsure whether you should proceed with this Agreement, you may wish to seek independent advice.
We do not offer investment research, and any material containing market analysis is considered marketing communication and should not be construed as advice, recommendation or research.
You understand that CFDs are derivative products, and therefore you will not be entitled to own any underlying instrument. You also understand that no physical delivery of any underlying asset shall occur.
We do NOT accept Clients who are under 18 years old.
This Agreement will come into effect when we accept your application and open your Trading Account, and You transfer funds to the Company's account(s) to ensure minimum trading deposit.
You have the right to cancel the Agreement by giving us notice in writing within the first fourteen (14) days of your account being activated. We will return to you any amount you have transferred to us, subject to you not having entered into any trades via our platform(s).
Where the Agreement has not been cancelled, it will continue to be in effect until its termination, in accordance with the provisions contained in the 'Termination' section of this document.
We will offer you, on an execution-only basis, access to trading a number of instruments in the form of CFDs (also referred to as "Leveraged Products").
We will act as principal in Transactions with you and not as agent on your behalf.
You will enter into each Transaction with us as principal and not as agent for any undisclosed person. This means that unless we have otherwise agreed in writing, we will treat you as our Client for all purposes, and you will be directly and personally responsible for performing your obligations under each Transaction entered into by you, whether you are dealing with us directly or through an agent. If you act in connection with or on behalf of someone else, whether you identify that person to us or not, we will not accept that person as an indirect Client of ours, and we will accept no obligation to them unless otherwise specifically agreed by us in writing.
Dealings with you will be carried out by us on an execution-only basis unless otherwise agreed by us.
You must fund your trading account within 90 calendar days from the date of its opening in an amount not less than define terms for the type of account (minimum initial deposit).
We have the right to close/cancel an account with the balance less than 1 cent (one-hundredth of a US dollar) if the above account balance existed for more than 90 calendar days.
You may request withdrawal of funds from your trading account in the amount not used to cover the margin, but not more than current balance, in case that all your positions on the Trading account are closed and all charges and commissions have been paid to us.
You may place a fund's withdrawal order by using our website's interface. We are not responsible for any third-party access to your personal information and withdrawal orders. Once an order has been received, the withdrawal amount may be deducted from your trading account.
In some cases, fund transfer may take up to 5 business days after receiving a Client's order due to third parties' involvement, i.e., payment service providers, payment institutions, banks, card processing schemes etc. The security service of the company has the right to hold the order up to 10 business days. You will be previously notified in this case.
Account balance funding using a third person credit card is prohibited.
In particular, we will not accept payments from a bank account if it is not evident to us that the bank account is in the Client's name.
We will only provide you with our services in accordance with our policies and procedures as long as we are not in breach of any legal requirements. There can be instances where we will not be able to provide you with a reason for refusing the provision of our services, where for instance, doing so would be in contrast with the law. Examples of when we will not provide services (or cease providing services) to you include instances (i) where we reasonably believe that you are abusing any of our offerings (e.g. where you are involved in latency abuse, insider trading or abusing NB9), (ii) where there is a regulatory justification for doing so, or (iii) where you have been using inappropriate/ defamatory language.
We shall enter into transactions with you and conclude them in good faith.
We shall take all reasonable and necessary steps to ensure compliance with the applicable rules and regulations. Therefore, you agree to be bound by any decision we may make in order to comply with any rule, regulation or obligation of the Company.
You, the Client, acknowledge and confirm to us for our benefit in relying on the following:
(a) you (or, if a corporate entity, your directors) have read and understood all documentation provided to you by us including this Agreement and any other disclosure documents in relation to any Financial Products which you request THE Company to make available to you in relation to your Trading Account;
(b) you agree to be bound by this Agreement;
(c) all dealings in Financial Products and the performance by us of our obligations under this Agreement are subject to the Governing Legislation;
(d) The Company relies on your representation that at all times you will be able to make payments and fulfill all commitments on your part arising under this Agreement and under the conditions applicable to dealings between you and us;
(e) that trading in Transactions incurs a risk of loss as well as a potential for profit;
(f) that dealing in the Contracts for Difference is highly speculative, and you may lose more than your Initial Margin, Variation Margin and other payments you make to us;
(g) it is your obligation to continuously monitor your Account and ensure that it constantly has sufficient Margin Cover;
(h) you will indemnify and keep indemnified us and each of its related bodies corporate and their respective directors, officers, employees and agents from and against all sums of money, actions, proceedings, suits, claims, complaints, loss, demands, damages, costs, expenses and any other amounts whatever claimed against any of them;
(i) We are not required to act in accordance with your instructions if in our opinion to do so would or could constitute a breach by us or our agent or hedge counterparty or any other Governing Legislation;
(j) if errors have occurred in the pricing of Transactions quoted by us to you, we may choose not to be bound by such Transactions (without further liability to the Client) if we believe that there was a Manifest Error at the time of the Transaction;
(k) any Open Position involving binary options must be maintained for a minimum duration, as specified by us. You are not permitted to Close Out such a position during this predetermined period. Conversely, for CFD Open Positions, you are allowed to manually close them at any time;
(l) the English version of this Agreement prevails over any other translated version of this Agreement;
This document continues with additional sections covering Conflict of Interest, Transactions, Manifest Error, KYC and AML, Communications, Exclusion of Liability, Indemnity, Force Majeure Events, and Privacy.