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Terms & Conditions

TERMS & CONDITIONS

SHORTLINE CONSULTANT, LTD.

CONTRACT OF SALE TO THE RETAIL

Note: the English version of this agreement is the version that shall prevail whenever there is a discrepancy between the English version and other versions. 

This customer agreement, together with any program, and document accompanying it, in the form in which is changed periodically, (the "agreement") sets the terms of the contract between you and us. Please read it carefully and let us know as soon as possible if there is anything you do not understand. 


1. Interpretation

2. Introduction

3. General

4. Regulation

5. Costs, payments, taxes

6. Right to cancel

7. Not advised

8. Customer accounts and initial deposits

9. Trading policies and procedures

10. Terms of electronic trading

11. Balance of customer

12. Constitutions of margins agreements

13. Representations, warranties and covenants

14. Events of default

15. Rights on default

16. Termination without default

17. Rights in the proposed breach

18. Exclusions, limitations and indemnification

19. Miscellaneous

20. Applicable law and jurisdiction

 

 

 

 

 

 

  1. INTERPRETATION

In this Agreement:

"Account" means your account with the company established under these Account Terms of Business

“Account Terms of Business”means the Terms of Business of your Account with the company by which you and the company deal in Transactions.

“Agreement” means these Account Terms of Business.

"Applicable Regulations" means:

  1. “IFSC” Rules or any other rules of a relevant regulatory authority; and
  2. all other applicable laws, rules and regulations as in force from time to time.

"Business Day" means a weekday which is not a gazette public holiday in Belize.

"Client Money Rules" means the rules specified in the Applicable Regulations relating to client money and other related matters, as amended from time to time.

“Close Out, Closed Out, Closing Out”in relation to a Transaction mean discharging or satisfying the obligations of the parties under the Transaction and this includes:

  1. as a result of the entering into an equal and opposite offsetting Transaction to match against an existing open Transaction of the same kind; and
  2. making adjustments for fees and charges.

“Confirmation” means any confirmation of a Transaction issued by Shortline Consultant, Ltd. and includes an electronically transmitted confirmation.

"CFD" means a contract for difference which is a contract between you and Shortline Consultant, Ltd. to pay in cash the difference in prices of the Transaction at the time the Transaction is opened and the time the Transaction is Closed Out or expires.

"Currency Pair"means the quotation and pricing structure of the currencies traded in the foreign exchange market whereby the value of a currency is determined by comparison to another currency. The first currency of a currency pair is fixed and called the "base currency", and the second currency is variable and called the "term currency". The currency pair shows how much of the term currency is needed to purchase one unit of the base currency.

“Equity”means the liquidating value of an Account and is calculated by deducting any unrealized losses from, and adding any unrealized profits to the balance of the Account.

"Event of Default" means any of the events of default as listed in Clause 14.1 to Clause 14.9 of Clause 14 (Events of Default).

“Exchange”means an exchange or market in which Underlying Assets are listed from time to time.

“Execute”, “executed” or"Execution" means the completion of client orders on the Online Trading Platform.

"FATCA" is an abbreviation for “Foreign Account Tax Compliance Act”.

"The company Transaction" means a contract between the company and its client to Exchange two currencies at an agreed Exchange rate.

"Initial Margin"means the amount which you are required to deposit in your Account with the company as the initial margin to cover any Transaction in which you propose to enter.

Marginmeans the amount required to be deposited in your Account to maintain your open Transactions and includes Initial Margin plus sufficient funds to cover adverse price movements in relation to your open Transactions.

“Margin Call” means a demand for additional funds to be deposited into your Account to meet Margin requirements because of adverse price movements against an open Transaction(s).

"Margin Level or Risk Level"means a percentage calculated as follows: (Total Equity divided by Used Margin) multiplied by 100. Risk Level on your account must be maintained above 20% threshold at all times when holding open positions. If the Risk Level of your trading account reaches 20% or less, the company may without further notice automatically close out your positions.

"Online Trading Platform" means the MetaTrader 4 electronic trading platforms offered by the company to enable you to enter into Transactions.

"OTC" means an over the counter financial product which is not traded on an Exchange.

"Third Party Provider" means any person who has entered into any guarantee, hypothecation, agreement, margin or security agreement in our favor in respect of your obligations under this Agreement.

"Transaction" means any transaction subject to this Agreement and includes a CFD, or forward contract of any kind, future, option or other derivative contract in relation to any commodity, financial instrument (including any security), currency, interest rate, index or any combination thereof and any other transaction or financial instrument for which we are authorized under our “IFSC” license from time to time which we both agree shall be a Transaction.

“Underlying Asset” means the thing or asset from which a CFD or a FX Transaction derives its price and in the case of CFDs includes a share, commodity (e.g. wheat and coffee), bond, metal (e.g. gold and silver), futures contract or share index and in the case of a FX Transaction includes a Currency Pair.

US Reportable Persons" - In accordance to FATCA, US Reportable persons are:

  1. a US citizen (including dual citizen)
  2. a US resident alien for tax purposes
  3. a domestic partnership
  4. a domestic corporation
  5. any estate other than a foreign estate
  6. any trust if:
    1. a court within the United States is able to exercise primary supervision over the administration of the trust
    2. one or more United States persons have the authority to control all substantial decisions of the trust
  7. any other person that is not a foreign person.

 

“Used Margin” means the amount of money that must be maintained in your Account balance to ensure that you have enough money to cover against losses on all of your open contracts at any one time. You must maintain at least 20% Risk Level on your account at all times when holding Open Positions. (Risk Level = (Total Equity divided by Margin Requirement) multiplied by 100).

2. INTRODUCTION

Scope of contract 

This agreement lays the basis on which we will provide you with services. This agreement governs all transactions held or pending to be celebrated, among us during or after the execution of this contract. 

Begining
This Agreement replaces all previous contract between you and us with the same object and enters into force as soon as you indicate your acceptance via our website. This agreement shall apply to all the transactions contemplated under this agreement.

3. GENERAL

Information about us

SHORTLINE CONSULTANTS LTD is located at address Tassou Papadopoulou, 6 Flat / Oficina 22 Agios Dometios 2373, Nicosia, Cyprus, with Registration number HE 350410. SHORTLINE CONSULTANTS LTD operates through FXGROUP INTERNATIONAL, authorised and regulated by the International Financial Servicies Commission of Belize ("“IFSC”"). Its registered office is located in the Sir Edney Cain Building, 2nd floor, Belmopan, Belize, C.A.

 

Language

This Agreement is supplied to you in English and Spanish and we will continue to communicate with you in English and Spanish for the duration of this Agreement. However, where possible or appropriate and for your convenience, we will endeavor to communicate with you in other languages in addition to English.

Communication

You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone).

Our website contains details about us and our services, and other information relevant to this agreement. In the event of conflict between the terms of this agreement and our web site, will govern this agreement.

Capacity

We act as a main through our liquidity providers and not as an agent on your behalf. Likewise, you initiate this agreement as principal and not as agent (trustee) on behalf of another. Try you as a client to the retail effects "IFSC" standards and other applicable regulations. If you prefer, it is entitled to request a different categorisation as a client. However, if you request such different categorisation and the company accepts it, the protection provided by the "IFSC" standards and other regulations, may be reduced. This may include, but is not limited to: 

1. the requirement that we act on their behalf; 

2. our obligation to provide you with adequate information before providing the services; 

3. the restriction on the payment or reception on our part of any incentive; 
4. our obligation to achieve the best performance relative to their orders; 
5. requirement to implement procedures and arrangements which provide for the prompt, fair and fast execution of orders;

6. our obligation to ensure that the information that we provide to you is fair, clear and not misleading; 

7. the requirement that we receive reports appropriate on the services we provide you.

Legal Age

Shortline Consultant, Ltd.' services and products traded are only available to individuals who are at least 18 years old (and at least the legal age in your jurisdiction). You represent and warrant that if you are an individual, you are at least 18 years old and of legal age in your jurisdiction to form a binding contract, and that all registration information you submit is accurate and truthful. The Company reserves the right to ask for proof of age from you and your account may be suspended until satisfactory proof of age is provided. Shortline Consultant, Ltd. may, in its sole discretion, refuse to offer its products and services to any person or entity and change its eligibility criteria at any time.

Banned/Not permitted Jurisdictions

The Company reserves the right and is entitled to at any time, and upon its sole discretion, to restrict offering its services to certain jurisdictions and consider them as banned countries in terms of engagement with the potential clients. Currently the Company does not accept new clients and/or the opening of new accounts from the following jurisdictions: EU countries, Australia, Belgium, Canada, Japan, Hong Kong, Israel and USA.

 

The aforementioned list of countries is non-exhaustive and the updated list of banned countries, which can be found with the Company’s customer support, is subject to alteration at any time the Company deems proper upon its sole discretion without any prior notice.

The Customer hereby, confirms that by agreeing to this Agreement he is not residing in one of the countries mentioned on the aforementioned list and covenants to inform the Company should his situation alter in any way. The Company reserves the right to request any additional information deemed necessary in order to verify compliance with this clause.

General interpretation

A reference in this Agreement to a “Clause” shall be construed as a reference to, a clause of this Agreement, unless the context requires otherwise. References in this Agreement to any statute or statutory instrument or Applicable Regulations include any modification, amendment, extension or re-enactment thereof. A reference in this Agreement to “document” shall be construed to include any electronic document.

The masculine includes the feminine and the neuter and the singular includes the plural and vice versa as the context admits or requires. Words and phrases defined in the Applicable Regulations have the same meaning in this Agreement unless expressly defined in this Agreement.

Programmes

Programmes shall apply the provisions contained in the attached programme (in the form amended occasionally). We periodically send more programs relating to the transactions. In the event of conflict between the terms of this agreement and any program, shall govern the terms of the program. The fact that a clause be included expressly in a program with respect to a transaction, does not express or given to understand a similar clause in relation to any other transaction. You acknowledge having read, understood and accepted this agreement programs.

Titles

Headings are for ease of reference only and do not form part of this Agreement.

4. REGULATION

Subject to Applicable Regulations

This Agreement and all Transactions are subject to the Applicable Regulations so that:

  1. nothing in this Agreement shall exclude or restrict any obligation which we have to you under Applicable Regulations;
  2. we may take or omit to take any action we consider necessary to ensure compliance with any Applicable Regulations;
  3. all Applicable Regulations and whatever we do or fail to do in order to comply with them will be binding on you; and
  4. such actions that we take or fail to take for the purpose of compliance with any Applicable Regulations shall not render us or any of our directors, officers, employees or agents liable.

Action by regulatory body

If a regulatory body takes any action which affects a Transaction, then we may take any action which we, in our reasonable discretion, consider desirable to correspond with such action or to mitigate any loss incurred as a result of such action. Any such action shall be binding on you. If a regulatory body makes an enquiry in respect of any of your Transactions, you agree to co-operate with us and to promptly supply information requested in connection with the enquiry.

5. Costs, payments, taxes

Taxation

Periodically you will pay our fees in the agreed form, as well as all fee or other fees imposed by a clearing organization and interest on any amount that is due us types collect at that moment (and they will be available on request). There is a copy of our current fees posted on our website. You will be notified about any modification in fees until the change occurs.

Additional costs

Additional costs must be aware of the possibility that there are other taxes or costs that are not paid through or imposed by us. 

Payments 
All payments we carried out under this Agreement shall be made in the currency you specify you periodically to the bank account designated by us for such purposes. Such payments will be made for its part without any deduction or withholding. 

Remuneration and distribution of taxes

The company rates can distribute rates with partners, affiliates, suppliers of intermediary services and agents (collectively referred to as "Partners") in connection with the transactions carried out on your account. Members receive remuneration on the basis of a percentage of the differential, a rate fixed or based on any other method agreed with them, which can affect the costs associated with your account. You can provide more information on the fees that the company paid to its partners on request.

Rollovers, interest 

A daily rate of funding may be applied to each open position of FX/CFD at the close of the day's trading from the liquidity providers, in relation to the FX/CFD. If it is applicable, is may request payment of such rate of funding of the user enterprise or enterprise user, depending on the type of FX/CFD and the nature of the position the user holds. The method of calculating the rate of funding varies according to the type of FX/CFD that applies to you. On the other hand, the amount of the financing rate will vary, since it is linked to the current rates of interest (such as the LIBOR). The rate of funding will be paid or charged (as appropriate) in the user account on the day of trading following a day in which to communicate.

The company, in accordance with their liquidity providers, reserves the right to change the method of calculation of the rate of financing, financing rates and/or types of FX/CFD to which applies the rate of funding. For certain types of FX/CFD, the user pays a Commission for opening and closing positions in FX/CFD. This Commission will be charged on the account of the user at the same time that the company, through its liquidity providers, opens or closes the corresponding FX/CFD. The changes that occur in our calculations and interest rates swaps will be at our discretion and without prior notice. Customers should always check our website to see the rates charged at that time. Types can change quickly due to the market conditions (changes in the types of interest, volatility, liquidity, etc.) and due to several issues related to the risk that they are under the sole discretion of the company.

Any transaction of FX/CFD open by the user at the end of the day's trading as determined by the company, in accordance with the offer of its suppliers of liquidity or over the weekend, will be automatically extended until the next business day to avoid an automatic closing and a physical settlement of the transaction. The user acknowledges that when such transactions be extended until the next business day, you may add or evade a surcharge of the account of the user with respect to that transaction. MT4 platform calculates the nightly rollover at 21:00 GMT and the refinancing rate/credit is charged or credited to and from trading account. For example: If you sell 1 lot of EUR/USD, paid rates of refinancing of €100,000, which with the current exchange rate would be $0.017. This rate may change depending on the time. To view current rates, visit our webpage.

Expiration of CFD rollover

Unless otherwise specified, the underlying instrument of a CFD has expiration date. However, you should be aware that CFDs do not operate until the exact date of expiration of the underlying instrument. On the other hand, the last Friday before the day of expiration of the underlying, to CFDs applies them a rollover to the future price of such underlying (except in cases where it falls on a Friday in which the markets are closed). This is known as expiration Rollover. If there is any substantial difference between the two futures, you will be charged or credited a correction in the balance of your account (subject to the amount of the open position of the vanquished CFD).

This correction will appear in your account under Rollover amount and does not affect the real value of its own capital. However, you should be aware that the change between the two prices of future of the CFD in question might involve a substantial price difference. Any order or orders pending (s) (stop, limit, stop of entry and entry limit) placed (s) on these instruments will be automatically removed on the date of the CFD rollover at 21:00 GMT. To calculate the rollover, the company, through its liquidity providers, taking the price of liquidation of the two relevant official trade contracts. User will not incur other costs related to the rollover of future contracts.

The company will strive to maximize to inform your customers about any expiration of instruments planned by pop-up, email or through the website. However, please note that the company cannot provide information of the correction of the rollover previously and before that happens the correction, therefore users with open positions who do not wish to apply rollover to their positions until the new negotiable contact must close your position or positions and/or cancel orders before the rollover date and then open a new position.

The formula used to calculate the expiration rollover at platform MT4:

[(Lots x Contract’ size) x (price of new contract - price of the old contract)] night

Rollover Web Market trader 

[Quantity x (price of new contract - price of the old contract)] night Rollover 
General rules

New price < Old price = Credit for long positions / Debit for short positions 
Example:

Platform MT4 

Price of the new contract : €9.975,00 

Price of the old contract: €9.982,00 

Formula: [(Lots x Size of the contract) x (price of new contract - price of the old contract)]

A long position is will charge a positive correction of rollover 
the user X has a long open position on the underlying instrument for 1 lot.

The correction will be: 

[(1 x 100) x (9975-9982)] night Rollover = €700 night Rollover 
A short position will charge you a negative correction of rollover 
the user X has a short position on the underlying instrument for lot 1. 
Correction will be:

[(1 x 100) x (9975-9982)] night Rollover = - €700 night Rollover 
Markets Web Trader 

Price of the new contract: €9.975,00 

Price of the old contract: €9.982,00 

Formula: [number x (price of new contract - price of the old contract)]

Night Rollover 

A long position is will charge a positive correction of rollover 
the user X has a long position on the instrument underlying 100 units 
The correction will be : 

[100 x (9975-9982)] night Rollover = €700 night Rollover 
A short position will charge you a negative correction of rollover 
the user X has a short position on the underlying instrument for 100 
units.

The correction will be: 

[100 x (9975-9982)] = night Rollover - €700 night Rollover 
• new price & old price = debit for long positions / credit for short positions

For Islamic accounts, since the account is free of swap, the actions mentioned above must be made using manual adjustments, credit or debit, to reflect the difference in price between the old contract expired and the new contract. The calculation formula and used prices are the same as those specified for the normal procedure. With regard to the normal procedure, all manual adjustment will not affect the equity of the user. 


Exceptions to the normal procedure:

  1. when the difference in the price of the contract expired and the new contract is exceptionally large, and at the discretion of the company, which reserves the right to implement Islamic accounts procedure and to reflect the difference in the price through manual adjustments rather than through swaps.
  2. where the liquidity of the old CFD contract is too small, and at the discretion of the company, which reserves the right to make the rollover to a date earlier than the prescribed.

All rollover corrections are calculated in the currency in which is called the instrument, and when the account is in a different currency, the system will change this to the currency of the account using the market established at that time interest rate.

Night rollover 

On Wednesday at 21:00 GMT, multiply by three (x 3) night to offset the following weekend rollover rates. The company will determine the amount of premium periodically, at the complete discretion of the company. User authorizes by the present the company to add or subtract the premium to or for the account of the user for any open transaction that has accrued a premium, in accordance with the applicable rate thereto, every day at the time of removal specified in the platform of trading for each individual instrument, as appropriate.

 

6. Right to cancel THIS AGREEMENT

You have a right to cancel this Agreement within a period of fourteen (14) days commencing on the date on which this Agreement is made (the “CancellationPeriod”)..

Cancelling this Agreement within the Cancellation Period will not cancel or terminate any Transaction entered into by you during the Cancellation Period. If you fail to cancel this Agreement within the Cancellation Period you will be bound by its terms but you may terminate this Agreement in accordance with Clause 17 (Termination Without Default).

7. Not advised

Limitation of execution

We operate limited to execution and do not advise on the benefits of individual transactions, or their tax implications.

Own criteria

Without prejudice to our previous obligations, to ask that you make a transaction, you set that it is solely responsible for making their own individual assessment and investigations into the risks of the transaction. It establishes that he has sufficient knowledge, sophistication of the market, professional advice and experience to carry out its own assessment of the benefits and risks of any transaction and that you have read and accepted the statement of disclosure of risks and guidelines related to financial instruments and markets available on our website. We do not give any guarantee of the suitability of the products traded under this agreement and do not assume any fiduciary duty in our relationship with you.

Incidental information and study of investment 

Where do provide generic trading recommendations, reviews of the market or other informacion:

1. is incidental to the business relationship with us. It is provided only to allow you to make your own investment decisions and does not amount to advice; 

2. where there is information in the form of a document containing a restriction on the person or category for who heads that document or for whom that document is distributed, you agree to not send it is such person or such category of people; 

3. we do not provide any representation, warranty or guarantee of the accuracy or completeness of such information or the tax implications of any transaction; 

4. you agree that prior to shipment, may we have acted on it or we made use of the information on which it is based. We make no representations as to the time of reception for its part and we can not guarantee to receive such information at the same time as the other clients. All the recommendations and study reports may appear on one or more information services.

Policy conflicts of interest 

Please, refer to our conflicts of interest policy for more information about how we treat those conflicts that would affect the impartiality of the study of investments that we provide. We will provide more details in this respect if requested.

8. Customer accounts and initial deposits

Opening an account

By opening an Account, you agree all Transactions entered into between us shall be governed by the terms of this Agreement as amended from time to time and you agree to be bound by such terms.

You acknowledge:

  1. You will apply to establish an Account by completing the application form, which is available on Stock Forex’s website.
  2. You must record information regarding your investment or trading knowledge and experience application form and complete a “suitability test”. On the basis of this information we will assess whether we consider opening an Account with us is appropriate for you. It is your responsibility to promptly inform us in writing if at any time you become aware of any information or circumstances which might indicate that our assessment should be changed.
  3. The company is required to collect certain information and verify your the identity (including, in accordance with our policy, any and all of your authorised signatories), before opening the Account. Each person who is authorised to trade and provide instructions on your behalf will need to sign the application form and provide identification information to the company before an Account will be opened.
  4. After the company accepts the application, your Account will be established.
  5. No Transactions can be entered into until you have opened an Account and lodged cleared funds in that Account.
  6. That by applying to open an Account you consent to entering into Transactions outside a regulated market.
  7. Your Account covers all of the products and services offered by the company which you apply for in your application form and which the company agrees to provide to you. Within your Account, you may have one or more trading accounts. A trading account is a sub-account of your Account for a specific method of dealing, such as for a specific Online Trading Platform or for dealings in a specific product. For example, you could have a trading account for each different currency denomination of the products in which you deal and a separate trading account for other products. You can trade in the products offered by the company and access our services through the Online Trading Platform. By opening an Account, you agree all Transactions entered into between us shall be governed by the terms of this Agreement as amended from time to time and you agree to be bound by such terms.

Coinage of Accounts

You will be able to open your Account(s) and trading account(s) in any currency that may be offered by Shortline Consultant, Ltd. You agree that Account(s) balances will be calculated and reported to you in the currency in which the Account(s) are maintained.

Types of Accounts

Shortline Consultant, Ltd. offers the following type of Accounts, depending on the legal status of the client:

  • Individual account;
  • Joint account;
  • Company account;

Other account types may be available, please speak to an our sales representative to find out more.

Joint Accounts

In addition to the conditions listed in Clause 9 in the paragraph entitled “Authority” with regards to joint Account holders, you acknowledge and agree the following additional conditions apply.

Where your Account held with Shortline Consultant, Ltd., is jointly owned by two or more individuals:

  1. Each joint Account holder will be jointly and severally liable for all obligations to the company arising in respect of your joint Account.
  2. Each joint Account holder is responsible for complying with the terms of this Agreement. If there is a dispute between the joint Account holders which we know about, we may insist that each joint Account holder provides written instructions to us. In cases of conflicted and/or opposing instructions provided both joint Account holders, the company shall refrain from implementing any instructions received until both joint Account holders provide the company with clear, consistent and non-conflicting instructions on the matter.
  3. If a joint Account holder dies, the survivor(s) shall be required to close the joint Account.
  4. Where a joint Account holder provides personal and financial information relating to other joint Account holders for the purpose of opening or administering the Account that person confirms that they have the consent or are otherwise entitled to provide this information to us and for us to use it in accordance with this Agreement.
  5. In the case of withdrawal of profits, if any joint Account holder wishes to withdraw profits from the joint Account, that person will be required to complete a withdrawal form which must be signed by all joint Account holders, provided that the conditions for withdrawals stipulated in Clause 8 (Withdrawing funds from your Account) are satisfied. Upon receipt of the completed and signed withdrawal form permission will be granted by the company to withdraw any profits from the joint Accthe company will credit the amount of profits withdrawn in the same bank account from where it was originally received.
  6. In order for the joint Account to be valid and binding it is required that all joint Account holders sign the joint Account Application Declaration and in case any of the joint Account holders wish to terminate this Agreement and close the joint Account held with the company, the written consent of all joint Account holders shall be obtained in accordance with the provisions of Clause 8 of this Agreement.

Metatrader 4 (MT4) platform:

The futures contract on which some CFD Transactions are based have an expiration date, and clients will be able to close their CFD Transactions until this date. Open Transactions not closed by clients by this date will be closed at the last available price. Approximately 3-5 days before expiring, a new CFD Transactions based on the next futures contract will begin trading. During this period, no new CFD Transactions can be opened in the CFD where the Underlying Asset is the expiring futures contract.

Any open CFDs Transaction held by a client at the end of the trading day or over the weekend, shall automatically be rolled over to the next business day so as to avoid an automatic Close Out and settlement of the Transaction. The client acknowledges that when rolling over such Transactions to the next business day, overnight rollover charges may be either added or subtracted from the client’s Account with respect to such Transaction. The overnight rollover charges amount shall be determined by Shortline Consultant, Ltd. providers from time to time, in its absolute discretion. The client hereby authorizes Shortline Consultant, Ltd. service providers to add or subtract the overnight rollover charges to or from the client’s Account for any open Transactions that have accrued overnight rollover charges, in accordance with the applicable rate thereto, each day at the time of collection specified on the Online Trading Platform for each individual financial product, as applicable.

Paying Options

Once your application has been approved you will be notified of your Account details and you may fund your account in a number of ways. The following methods of payment of funds into your Account are accepted:

  • electronic funds transfer;
  • online payment methods;
  • credit cards;
  • wire transfers

Stray your Account

No form of payment from a third party is accepted in order to fund your Account. This means that clients must ensure they transfer funds from a bank account in the same name as their Account name.

All deposits must be cleared funds before they will be available for you to commence trading.

Withdrawing funds from your Account

Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies may be withdrawn by you from your Account provided that such monies are not being utilized for Margin purposes or have otherwise become owing to us. Once your withdrawal request is approved your withdrawal request will be processed by us and funds will be sent to the same bank, credit card or other originating source as soon as possible. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction).

If you have a Joint Account, payments from your Joint Account will require awithdrawal request formwhich must be signed by all joint Account holders and which must be submitted to us. Upon receipt of the completed and signed withdrawal form permission will be granted to withdraw funds up to the amount initially deposited (plus any profits and less any losses), provided that the conditions for withdrawals stipulated in Clause 8 (Withdrawing funds from your Account) are satisfied. The amount withdrawn will be credited to the same bank account from where it was originally received.

If you request a withdrawal of money from your Account and we cannot comply with it without Closing Out some part of your open Transactions, your request will not be complied with until you have Closed Out sufficient open Transactions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining in your Account following your withdrawal are at least equal to your Used Margin. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your Account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or by bankers draft payable to you personally or such other method as we, in our absolute discretion, may determine.

9. Trading policies and procedures

Placing of instructions

You may give instructions in electronic form through the Online Trading Platform. In this Agreement “instructions” and “orders” have the same meaning.

Authority

We shall be entitled to act for you upon instructions given or purporting to be given by you or any person authorized on your behalf without further enquiry as to the genuineness, authority or identity of the person giving or purporting to give such instructions provided such instruction is accompanied by your correct Account number and password. If your Account is a joint account, you agree that we are only authorized to act on the instructions of all parties in whose name the joint Account is held, without further inquiry. We shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any actions taken or failed to be taken by us in reliance on any such instructions or on the apparent authority of any such persons.

Cancellation

Orders may be cancelled via Online Trading Platform but we can only cancel your instructions if you explicitly request so, provided that we have not acted up to the time of your request upon those instructions. Executed instructions may only be withdrawn or amended by you with our consent. Shortline Consultant, Ltd. and its service providers shall have no liability for any claims, losses, damages, costs or expenses, including legal fees, arising directly or indirectly out of the failure of such order to be cancelled.

Right not to accept orders

We may, but shall not be obliged to, accept instructions to enter into a Transaction. If we decline to enter into a Transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.

Control of orders prior to Execution

We have the right (but not the obligation) to set limits and/or parameters to control your ability to place orders at our absolute discretion. Such limits and/or parameters may be amended, increased, decreased, removed or added to by us at our absolute discretion and may include (without limitation):

  1. controls over maximum order amounts and maximum order sizes;
  2. controls over our total exposure to you;
  3. controls over prices at which orders may be submitted (to include (without limitation) controls over orders which are at a price which differs greatly from the quoted price at the time the order is submitted to the order book);
  4. controls over the Online Trading Platform (to include (without limitation) any verification procedures to ensure that any particular order or orders has come from you); and/or any other limits, parameters or controls which we may be required to implement in accordance with Applicable Regulations.

Trade Adjustments

Customers must be aware that the products offered by the company and its service providers carry a high degree of risk. The amount of Initial Margin may be small relative to the value of the face value of the Transaction as Transactions are ‘leveraged’ or ‘geared’ A relatively small market movement in price or the rate of the foreign currency may have a proportionately larger impact on the profit or loss of the open position and thereby the funds that you have deposited or will have to deposit, that may work against you as well as for you.

Shortline Consultant, Ltd. and its service providers exclusively reserve the right to widen spreads, amend Initial Margin levels and adjust leverage without notice under certain market conditions including, but not limited to around fundamental announcements, and at times of extreme market volatility. In such circumstances you agree to indemnify Shortline Consultant, Ltd. and its service providers for any and all losses that may occur due the widening of spreads and the adjustment of leverage.

Corporate Action’s Account Adjustment Policy

Stock splits, reverse stock splits, stock dividends and other stock related events (“Corporate Action”) can have an impact on the share price and thus on the price of their CFDs. A Client who performs CFD Transaction has no ownership of the underlying instrument. However, in the event of a Corporate Action on the underlying asset of a CFD, the Company shall make the relevant adjustments in the Account to reflect the economic effect of the Corporate Action on the price of the CFD. This can be done through a cash adjustment and/or a position adjustment in the Account before or after the ex-date (“Effective Date”).

Stock splits, reverse stock splits, stock dividends and other stock related events (“Corporate Action”) can have an impact on the share price and thus on the price of their CFDs. A Client who performs CFD Transaction has no ownership of the underlying instrument. However, in the event of a Corporate Action on the underlying asset of a CFD, the Company shall make the relevant adjustments in the Account to reflect the economic effect of the Corporate Action on the price of the CFD. This can be done through a cash adjustment and/or a position adjustment in the Account before or after the ex-date (“Effective Date”).

In the case of a Corporate Action, and in an effort to maintain the same economic value of the relevant Transaction at the Account, the Company shall proceed with, among others, one or more of the following:

  1. Freeze the financial instrument of which its underlying asset is subjected to the split or reverse split so as not be subjected to any trading until the relevant adjustments will be made in the Account; and/or
  2. Freeze the Account until the relevant adjustments are performed; and/or
  3. Set the financial instrument of which its underlying asset is subjected to the split or reverse split on a close-only mode, in which case no new positions shall be opened.
  4. Make the relevant adjustments in the Account to restore Account’s Transactions in other financial instruments which were (post the Effective Date) or to be (prior to the Effective Date) affected by the Split. Such adjustments can be executed at the then-current market prices which may be different than the prices the original Transaction was executed.

The abovementioned measurements shall get executed selectively or on several Accounts, pre or post the Effective Date, in timely fashion in an effort to disturb the activity in the Accounts to the minimum. The following are non-binding and non-exhaustive scenarios and example made to illustrate the above-mentioned:

  1. In case of a client holding a long position of financial instrument which its underlying asset encountered a split, the Company may proceed with a positive adjustment to the Account. In case of a reverse split, a Client holding a long position shall face a negative adjustment to the Account.
  2. In case of a Client holding short position and the financial instrument which its underlying asset encountered a split, the Company may proceed with a negative adjustment to the Account. In case of a reverse split, a Client holding a short position shall face a positive adjustment to his account.

When the client holds either a long or short position and the financial instrument which its underlying asset encountered a split or reverse split, the Company may proceed with a position adjustment in order to make the necessary adjustment to the price of the financial instrument to reflect the split or reverse split economic effect at the Account. In this case, the Company may close-out the position in the Account and reinstate the position under a new instrument with the adjusted price to reflect the effect of the split or reverse split.

Accomplishment of orders

Shortline Consultant, Ltd. and its service providers shall use its reasonable endeavors to execute any order promptly, but in accepting your orders we do not represent or warrant that it will be possible to execute such order or that Execution will be possible according to your instructions. If we encounter any material difficulty relevant to the proper carrying out of an order on your behalf we shall notify you promptly.

Authentications

At the end of each trading day, Confirmations for all Transactions that we have executed on your behalf on that trading day will be available via your online Account in the Open Positions window and Deal Blotter in the dealing console, which is updated online as each Transaction is executed.

Confirmation of Transactions and statements of your Account(s), in the absence of manifest error, shall be deemed correct, conclusive and binding upon you if not objected to by email if orders were placed through the Online Trading Platform, within five Business Days of making such Transactions and the Confirmations being available to you or we notify you of an error in the Confirmation within the same period.

In cases where the prevailing underlying market represents prices different from the prices quoted, we will attempt, on a best efforts basis and in good faith, to execute orders on or close to the prevailing market prices of the Underlying Asset. This may or may not adversely affect client’s realized and unrealized gains and losses.

Trailing Stop functionality in case thatMetaTrader 4 (“MT4”) Online Trading Platform is closed

In the event that the MT4 Online Trading Platform is closed, Trailing Stop Orders will not be executed. Trailing Stops are maintained locally on your machine and therefore requires that your MetaTrader 4 platform remains on and connected to the internet. If you disconnect the MetaTrader 4 platform from the system, any open trailing stops will be converted to a hard stop or limit.

Off-Colour or Abusive Trading

Shortline Consultant, Ltd.’s objective is to provide the most efficient trading liquidity available in the form of streaming, tradable prices for most of the financial instruments we offer on the trading platform. As a result of the highly automated nature of the delivery of these streaming, tradable prices, you acknowledge and accept that price misquotations are likely to occur from time to time.

Should you execute trading strategies with the objective of exploiting such misquotation(s) or act in bad faith (commonly known as ‘sniping’), Shortline Consultant, Ltd. shall consider this as unacceptable behavior. Should we determine, at its sole discretion and in good faith, that you or any representative of yours trading on your behalf is taking advantage, benefitting, attempting to take advantage or to benefit of such misquotation(s) or that you are committing any other improper or abusive trading act such as for example:

  1. fraud/illegal actions that led to the transaction;
  2. orders placed based on manipulated prices;
  3. Hedge or Hedging meaning taking an offsetting position in a related instrument with a view to gaining profit from beneficial trading conditions offered by the Hedged trade.
  4. arbitrage trading on prices offered by our platforms; and/or
  5. coordinated transactions by related parties in order to take advantage of systems errors and delays on systems updates.

Then we will have the right to:

  1. adjust the price spreads available to you; and/or
  2. restrict your access to streaming, instantly tradable quotes, including providing manual quotation only; and/or
  3. obtain from your account any historic trading profits that you have gained through such abuse of liquidity as determined by us at any time during our trading relationship; and/or
  4. reject an order or to cancel a trade; and/or
  5. immediately terminate our trading relationship

Forbidden Trading

No employee or any of their related entities shall, during the term of their employment become a client of Shortline Consultant, Ltd.(either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without Shortline Consultant, Ltd. prior written approval. Should Shortline Consultant, Ltd. consider that the employee is trading without Shortline Consultant, Ltd. prior written approval we shall consider all the trading to be irregular or illegal trading. In such circumstances the employee’s Account(s) will be temporarily frozen and all open Transactions shall be Closed Out immediately and any funds held within the Account shall be held by Shortline Consultant, Ltd. pending a thorough investigation of the matter.

No business associate or former business associate of FShortline Consultant, Ltd. or any of its related entities shall, during the period of the agreement between the associate/former business associate and Shortline Consultant, Ltd. and after termination of such agreement, become a client of Shortline Consultant, Ltd. (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without Shortline Consultant, Ltd. prior written approval. Should Shortline Consultant, Ltd. consider that the associate/former business associate is trading with Shortline Consultant, Ltd. without Shortline Consultant, Ltd. prior written approval personally and/or via a third party we shall consider all the trading to be irregular or illegal trading. In such circumstances the relevant associate/former business associate’s Account(s) will be closed and all open Transactions shall be Closed Out immediately and any funds held within the Account shall be held by FShortline Consultant, Ltd. pending a thorough investigation of the matter.

Cancelling Deposits

We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances:

  1. if you fail to provide the company with any documents it requests from you either for client identification and verification purposes or for any other reason;
  2. if the company suspects or has concerns that the submitted documents may be false;
  3. if the company suspects you are involved in illegal or fraudulent activity;
  4. if the company is informed that your credit or debit card (or any other payment method used) has been lost or stolen;
  5. where the company considers that there is a chargeback risk; and/or
  6. when you deposit $10,000 or more in cash or if you make over 10 separate $1,000 deposits to your Account and the company is unable to verify your credit or debit card details or is unable to verify any other payment method used.

In case of cancelled deposits, and if there is not a confiscation of your funds by a supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account from which they were initially received.

Adjustments on CFDs where the Underlying Asset is a Share

You acknowledge that if you hold an open CFD Transaction you have no ownership of the Underlying Asset or any rights attaching to ownership.

Notwithstanding you do not own the Underlying Asset, if you buy a CFD where the Underlying Asset is a share in a company you will hold a “long” CFD and your Account will be credited with an amount equal to the gross dividend on the relevant number of the CFDs as soon as practical, typically on the Business Day after the ex-dividend date. However, you agree and acknowledge such CFDs do not confer rights to any dividend imputation credits.

Conversely, if you sell a CFD where the Underlying Asset is a share in a company i.e. you will hold a “short” CFD and agree and acknowledge your Account will be debited by an amount equal to the gross dividend on the relevant number of the CFDs on the ex-dividend date.

Where the Underlying Asset of a CFD is a share in a company and if there is a corporate action by that company, you agree and acknowledge Shortline Consultant, Ltd. may, in its discretion, make an adjustment to the terms of your CFD Transaction. For example, an adjustment will ordinarily be made for:

  • subdivisions or splits;
  • consolidations;
  • reclassifications of shares;
  • bonus issues;
  • other issues of shares for no consideration;
  • rights issues;
  • buy backs;
  • in specie distributions;
  • takeovers;
  • schemes of arrangement or similar corporate actions;
  • a corporate action event that has a dilutive or concentrative effect on the market value of the shares.

You agree and acknowledge Shortline Consultant, Ltd. has a discretion to determine the extent of the adjustment and has the right to decide to make an adjustment in any circumstance where we consider an adjustment is appropriate. Our discretion in this regard will be exercised reasonably in an effort to place you substantially in the same economic position that you would have been in had the adjustment event not occurred.

Shortline Consultant, Ltd. may elect to Close Out a position (without prior notice to you) if the Underlying Asset of the CFD (being a share) is the subject of a take-over offer, scheme of arrangement or other mechanism for change in control,

Trading in Underlying Assets which have been Suspended or Halted

An Underlying Asset may be suspended, delisted or subject to a trading halt on the relevant Exchange (or other market). In such circumstances, you acknowledge and agree that Shortline Consultant, Ltd. may, in its absolute discretion, cancel any order which has not been executed or Close Out any open Transaction.

Should Shortline Consultant, Ltd. exercise its discretion to Close Out any open Transaction it will also exercise its discretion to determine a price or value. You acknowledge that Shortline Consultant, Ltd. discretion is unfettered and so has no condition or qualification. Our discretion in determining a price or value will be exercised reasonably. You acknowledge you have the risk of relying on whatever price or value is determined by Shortline Consultant, Ltd.

If the Underlying Asset is a security (share) which ceases to be quoted on the relevant Exchange or is suspended from quotation for three consecutive Business Days on that Exchange, or such lesser period agreed between you and Shortline Consultant, Ltd., you acknowledge and agree that Shortline Consultant, Ltd. has a discretion to Close Out your open Transaction.

MT4 Trading Account Archiving

If we do not record any activity in your MT4 Account during a continuous period of three (3) months and you have a zero account balance, your MT4 Account and all its history will be archived on our trade server.

Inactive Account

You acknowledge and confirm that any Account(s), held with Shortline Consultant, Ltd. where you have:

  1. not placed an order to enter into a Transaction;
  2. not opened or Closed Out any Transactions; and/or
  3. not made a deposit into the Account;

for a period of 90 days or more, shall be classified by the company as an inactive Account (“Inactive Account”).

Where you have and continue to:

  1. place an order;
  2. open or Close Out any Transactions; and/or
  3. make a deposit into your Account;

the Account shall be classified by the company as an active Account ("Active Account")

You further acknowledge and confirm that such Inactive Accounts will be subject to a monthly charge of $5, relating to the maintenance/administration of such Inactive Accounts. You agree that any Inactive Accounts, which hold zero balance/Equity, shall be classified as a dormant Account ("Dormant Account"). For re-activation of Dormant Accounts, you must contact the company Client Support Departmentand inform them of your wish to reactivate the Dormant Account. Your Dormant Account will then be reactivated (subject to, you depositing cleared funds with the company and if required, up-to-date identification and verification documentation provided to the company by yourself) and become an Active Account. However, where you have not done any of the following:

  1. placed an order;
  2. opened or Closed Out any Transactions; and/or
  3. made a deposit into the client’s Account;

for a period of 90 days or more, then this Account will once again become an Inactive Account and subsequently a Dormant Account if the balance/Equity of the Account is zero.

Bonus and Award Policy

The company offers a number of attractive rewards to its new and existing clients. Bonuses and/or financial awards or promotions (“Awards”) rewarded to clients are part of the company promotions program. These Awards have limited time offers. Prior to accepting any Award offer clients will be given the opportunity to consider the terms and conditions associated with the Award and these are subject to change.

At the end of the period of the promotion, the client will only be eligible to withdraw the Award amount if the client executes a minimum trading volume of $10,000 for every dollar Awarded by the company if the client withdraws any funds form their Account before satisfying the required trading volume, the total Award will be deducted from the client’s Account.

For example, if the client receives a $100 Bonus Award the client will need to have a minimum trading volume of $1,000,000 in order to withdraw the Award at the end of the period of the promotion. From the date the client receives the $100 credited to their Account, the client’s trading volume will start counting towards the volume requirement the client must satisfy in order to withdraw the Award.

Clients are prohibited from opening multiple Accounts at Shortline Consultant, Ltd. for the sole purpose of enjoying more than one Award. Duplicate accounts may be closed without notice. Shortline Consultant, Ltd. will retain any Award rewarded to the client, any earnings will be forfeited, and any amount deposited by the client will be returned to the client accordingly.

The client is not required to accept any Award offered by Shortline Consultant, Ltd.; all Awards are optional. The client may choose not to accept an Award. In these circumstances, the client will not be bound to the terms relating to Awards. Should the client mistakenly accept an Award, the client must notify a member of our Customer Support Team within 5 working days of mistakenly accepting the Award. In such circumstances, Shortline Consultant, Ltd. will remove the Award from the client’s Account and the client shall not be held to the Award terms, however, all other terms and conditions shall continue to apply. The client must not have placed more than 5 trades since mistakenly accepting the Award in order for the Award to be removed from the client’s Account.

 

10. Terms of electronic trading

Scope

These Clauses apply to your use of any Online Trading Platform provided by the company.

Access and Trading Hours

Once you have gone through the security procedures associated with an Electronic Service provided by us, you will get access to such service, unless agreed otherwise or stated on our website. All references to Shortline Consultant, Ltd. hours of trading are in Greenwich Mean Time (“GMT”) using 24-hour format. Our Electronic Services will normally be available continuously from 21:00 GMT Sunday until 21:00 GMT Friday (winter time), every week, excluding public holidays where the Forex market does not operate and cases where the market is closed due to illiquidity in the financial instruments. Please consult our website for more details on operating times for each financial instrument. We reserve the right to suspend or modify the operating hours on our own discretion and on such event our website will be updated without delay in order to inform you accordingly. In this respect the operating hours, as indicated on the websites operated by our company and to which you have trading rights are the applicable.

We may change our security procedures at any time and we will inform you of any new procedures that apply to you as soon as possible.

Electronic Order entry for Market Orders equals Order Execution

To enter an online order, you must access the Markets window, then click on “BUY/SELL” for the relevant product. A new window will appear in which you enter the price and lot size. The market order is filled shortly after you hit the OK button provided you have sufficient funds in your Account. Orders may fail for several reasons including changing quoted prices, insufficient funds to meet Initial Margin, unspecified lot size or unanticipated technical difficulties.

One-Click Trading

To use one-click trading, you must go to the “Settings” menu and choose “View and Edit”. You should check the “One-Click Trading” box. To enter an online order with one-click trading, you must access the Markets window and enter the price and lot size. The order is filled shortly after you click the BUY/SELL button provided you have sufficient funds in your Account. Orders may fail for several reasons including changing quoted prices, insufficient funds to meet Initial Margin, unspecified lot size or unanticipated technical difficulties. One-Click Trading can also be used when Closing Out positions.

Restrictions on services

There may be restrictions on the number of Transactions that you can enter into on any one day and also in terms of the total value of those Transactions when using an Online Trading Platform.

Access requirements

You acknowledge and agree you will be responsible for providing the computer or other electronic device to enable you to use an Online Trading Platform offered by Shortline Consultant, Ltd.

Virus detection

You acknowledge and agree you will be responsible for the installation and proper use of any virus detection/scanning program we require from time to time.

Use of information, data and software

In the event that you receive any data, information or software via an Online Trading Platform other than that which you are entitled to receive pursuant to this Agreement, you acknowledge and confirm you will immediately notify us and will not use, in any way whatsoever, such data, information or software.

Maintaining Standards

When using a computer or other electronic device, you acknowledge and agree you must:

  1. ensure that such computer or other electronic device is maintained in good order and is suitable for use with the Online Trading Platform;
  2. run such tests and provide such information to us as we shall reasonably consider necessary to establish that the computer or other electronic device satisfies the requirements notified by us to you from time to time;
  3. carry out virus checks on a regular basis;
  4. inform us immediately of any unauthorized access to an Online Trading Platform or any unauthorized Transaction or instruction which you know of or suspect and, if within your control, cause such unauthorized use to cease; and
  5. not at any time leave the computer or other electronic device from which you have accessed such Online Trading Platform or let anyone else use the computer or other electronic device until you have logged off the Online Trading Platform.

System defects

In the event you become aware of a material defect, malfunction or virus in your computer or other electronic device or in an Online Trading Platform, you acknowledge and confirm you will immediately notify us of such defect, malfunction or virus and cease all use of such computer or other electronic device until you have received permission from us to resume use.

Intellectual Property

You acknowledge and agree:

  1. all rights in patents, copyrights, design rights, trade marks and any other intellectual property rights (whether registered or unregistered) relating to the Online Trading Platform remain vested in us or our licensors.
  2. you will not copy, interfere with, tamper with, alter, amend or modify the Online Trading Platform or any part or parts thereof unless expressly permitted by us in writing, reverse compile or disassemble our Online Trading Platform, nor purport to do any of the same or permit any of the same to be done, except in so far as such acts are expressly permitted by law.
  3. any copies of the Online Trading Platform made in accordance with law are subject to this Agreement. You shall ensure that all the licensors trademarks and copyright and restricted rights notices are reproduced on these copies. You shall maintain an up-to-date written record of the number of copies of the Online Trading Platform made by you. If we so request, you shall as soon as reasonably practical, provide to us a statement of the number and whereabouts of copies of the Online Trading Platform.

Obligation and Indemnity

Without prejudice to any other terms of this Agreement, relating to the limitation of liability and provision of indemnities, you acknowledge and agree the following Clauses shall apply to the Online Trading Platform:

  1. System errors 

    We shall have no liability to you for damage which you may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions or other deficiencies on the part of internet service providers. You acknowledge that access to an Online Trading Platform may be limited or unavailable due to such system errors, and that we reserve the right upon notice to suspend access to an Online Trading Platform for this reason.

 

  1. Delays 

    Neither we nor any third party software provider accepts any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to you in connection with an Online Trading Platform. 
    We do not accept any liability in respect of any delays, inaccuracies or errors in prices quoted to you if these delays, inaccuracies or errors are caused by third party service providers with which we may collaborate. 
    We shall not be obliged to execute any instruction which has been identified that is based on errors caused by delays of the Online Trading Platform to update prices provided by the related party service providers. We do not accept any liability towards executed Transactions that have been based and have been the result of delays as described above.

 

  1. Misquotes/ Mispricing 

    It is possible, that a transaction may be performed on a wrong price due a miss-quote price feed from any of our third party liquidity providers or through an unexpected technical fault. Equally, there may be delays due to internet connection or occasions where a position is opened or closed, based on latent prices that do not reflect the correct market prices at the time of transaction, resulting in an inaccurate profit or inaccurate loss. Such events may affect your transactions and our business. In this case, we will take all the necessary measures, to remedy and rectify the situation, as it is fair and suited to each case. Remedies include correcting deal entry prices or exit prices according to the correct market rates at the time of transaction. We may need to cancel any transaction(s) which was executed wrongly due to the “price misquote”, open the position again at the correct market price and/or make an adjustment (either positive or negative) to your account. We make our best efforts to contact and inform you for our actions, by telephone or by e-mail.

 

  1. Viruses from anOnline Trading Platform and Unauthorized Use 

    We shall have no liability to you (whether in contract or in tort, including negligence) for any loss, liability or cost whatsoever from any unauthorized use of our Online Trading Platform and in the event that any viruses, worms, software bombs or similar items are either introduced into our computer system or network or introduced into your computer or other electronic device via an Online Trading Platform or any software provided by us to you in order to enable you to use the Online Trading Platform, provided that we have taken reasonable steps to prevent any such introduction . You shall indemnify us on demand for any loss that we suffer arising as a result of any such introduction You shall also on demand indemnify, protect and hold us harmless from and against all losses, liabilities, judgments, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using the Online Trading Platform by using your designated passwords, whether or not you authorized such use.

 

  1. Underlying Markets 

    We shall not be liable for any act taken by or on the instruction of an Exchange, clearing house or regulatory body.

 

  1. Suspension or permanent withdrawal with notice 

    We may suspend or permanently withdraw an Online Trading Platform, by giving you 24 hours written notice.

 

  1. Immediate suspension or permanent withdrawal 

    We have the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use any Online Trading Platform, or any part thereof, without notice, where we consider it necessary or advisable to do so, for example due to your non-compliance with the Applicable Regulations, breach of any provisions of this Agreement, on the occurrence of an Event of Default, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of security. In addition, the use of an Online Trading Platform may be terminated automatically, upon the termination (for whatever reason) of: 
    1. any license granted to us which relates to the Online Trading Platform; or

 

  1. this Agreement.

11. Balance of customer

Balance of customer

SHORTLINE CONSULTANT, LTD having its registered office in Tassou Papadopoulou, 6 Flat/office 22 Agios Dometios 2373, Nicosia (Cyprus), Registered number: HE 350410 is delivering services to the client on behalf of FXGROUP INTERNATIONAL LTD address Suite 508, Marina Towers, Newtown Barracks, Belize City, Belize.When providing and giving access to forex services via the top4fx.com , SHORTLINE CONSULTANTS LTD undertakes to act honestly, fairly and professionally in accordance with the best interests of its clients.

The company is the broker and transfers the customer's balance to the provider of liquidity within 24 hours of receiving the initial deposit (s) account (s) of the Bank of the broker.

 
We deal with the money we receive from you or which possess in its name in accordance with the requirements of the rules on the client's balance.

Interest

You, acknowledge and confirm that no interest will be received on the balance of your Account.

Foreign banks, intermediate broker, settlement agent or OTC counterparts will try to maintain the balance generated on your behalf in the customer accounts of the company within the European Union banks, however, may be the case that this is stored outside the European Union.

The legal and regulatory regime for such bank or person will be different from the legal and regulatory regime of the European Union and in the event of insolvency or other analogous procedure in relation to that bank or person, your money may receive a different treatment of which would apply if the money was in a bank in an account of the European Union. We will not be responsible for the insolvency, acts or omissions of any third party referred to in this clause.

Unclaimed client money

You agree that we may cease to treat your money as client money if there has been no movement on your Account balance for three six years. We shall write to you at your last known address informing you of our intention of no longer treating your balance as client money and giving you 28 days to make a claim.

Liability and Indemnity

You agree that we shall not be liable for any default of any bank, or other entity which holds money on your behalf.

You agree that the company will not be liable for loss suffered by you in connection to your funds held by us, unless such loss directly arises from our gross negligence, willful default or fraud.

12. Constitutions of margins agreements

Margin call

You acknowledge and agree the process for Margining all of the company products is an automated process. You should fully understand this Margin Call process and that the company has the right to Close Out open Transactions held by you without contacting you first.

Opening Transactions

Before you enter into a Transaction, the company requires you to have sufficient funds in your Account to meet the relevant Initial Margin applicable to the the company product. The Initial Margin requirement is set by the company and calculated as a percentage of the full face value of the relevant the company product. Our website discloses the Initial Margin amounts applicable to each product the company offers. the company may amend the amount of Initial Margins from time to time in our sole and absolute discretion.

If you wish to open a Transaction and you do not have sufficient funds (or Equity) in your Account to meet the Initial Margin, the Online Trading Platform will not allow the order or Transaction to be processed.

Maintaining Open Transactions

If there is an adverse movement in the value of a Transaction we will require additional funds from you to cover the amount of the adverse movement and to supplement the Initial Margin. This means, in order for you to continue to hold open Transactions you must maintain sufficient funds or Equity in your Account to cover the Initial Margin and the value of any adverse market movements (generally known as variation margin).

You acknowledge that you may be required to deposit a substantial additional sum, at short notice, to maintain your Margin balances at a sufficient level to cover adverse price movements (i.e. unrealized losses) i.e. you will be subject to a Margin Call to pay additional Margin if there are insufficient funds in your Account or you have insufficient Equity.

During the period your contract/s remains open with Shortline Consultant, Ltd., you must maintain a Risk Level of at least 20%. TheRisk Levelis a percentage calculated as follows: (Total Equity divided by Used Margin) multiplied by 100, whereas:

The Equity is the liquidating value of your Account and is calculated by deducting any unrealized losses from, and adding any unrealized profits to, the balance of your Account.

The Used Margin is the amount of funds required to keep your Transactions open (see also Section 7 – Glossary).For calculation purposes, all relevant figures Equity and Used Margin will be converted into your account currency.

Once your Risk Level reaches 20% or less, Shortline Consultant, Ltd. may, without further notice, Close Out all of your Open Positions unless additional funds are deposited into the Account or you choose to Close Out one or more open Transactions. Used Margin is the amount of funds required to keep your Transactions open.

You acknowledge that if you do not maintain sufficient funds to meet the Margin requirements to maintain an open Transaction(s) your open Transaction will be Closed Out.

We will take reasonable steps to notify you before we Close Out your open position(s) and Margin Calls may be made by via the Online Trading Platform.

The company will attempt to provide you with sufficient notice of Margin Calls to enable you to meet them. However, in certain market conditions such as extreme volatility this may not be possible and funds will need to be deposited with us to retain your open Transaction. You acknowledge and agree that it is your responsibility to actively monitor and manage your Transactions and your obligations, including ensuring that you maintain sufficient funds to meet Margin requirements to maintain your open positions.

Margin Call Notification

If your Risk Level is 20% or less, we are entitled to close all Open Positions on your Account and cancel all Orders:

  1. We can close your Open Positions and cancel all Orders with or without giving you notice. If we do so without giving notice, we will inform you in our Online Trading Platform that we have done so.
  2. The company is not obligated to tell you if your account is close to liquidation. However, as a courtesy, the company will attempt to send you a Margin Call via email when the Risk Level reaches 100%.

 

  1. refore, you must ensure that you log into their trading platform on a regular basis to ensure you monitor your Equity and any relevant notifications and that you maintain an e-mail address at all times and keep us up to date and informed of your current email address. the company will not use any other means of communication to tell you when your account reaches these risk levels.
  2. Risk Level is a percentage calculated as follows: 
    (Total Equity divided by Margin Requirement) multiplied by 100. For calculation purposes, all relevant figures will be converted into your Base Currency.
  3. You must monitor your Account, and all relevant factors, so that you know the current Risk Level, Available Equity and whether or not your account is at risk of being liquidated.

Liquidation

The company reserves its rights to Close Out any or all of your open Transactions where a Margin Call has not been met or in extreme market volatility where your Account Equity is equivalent to or falls below 20% of the Used Margin due to adverse price movements, without prior further reference to you.

When a Margin Call is not met by you by lodging additional funds or Closing Out some or all of their open Transactions and the Equity falls below 20% of the Used Margin,, you acknowledge and agree that the Online Trading Platform will automatically identify which open Transactions are in an unrealized loss position and will Close Out the open Transactions with the largest unrealized loss first and continue Closing Out open Transactions with the next highest unrealized loss, until there are sufficient funds in the client’s Account to meet the Margin obligations of the remaining open Transactions, if any, and Equity is at or above 20% of the Used Margin.

At this stage, no further automated notifications will be made to clients informing them that some or all of their open Transactions have been Closed Out. Clients will be able to see which of their open Transactions have been Closed Out by logging into their Account on the Online Trading Platform.

13. Representations, warranties and covenants

You represent and warrant to us at the commencement of this Agreement and as of the date of each Transaction that:

  1. if you are a natural person, you are of legal age and you have full legal capacity to enter into this Agreement;
  2. if you are not a natural person:
    1. you are duly organized, constituted and validly existing under the applicable laws of the jurisdiction in which you are constituted;
    2. acceptance of this Agreement, all Transactions and the performance of all obligations contemplated under this Agreement have been duly authorized by you; and
    3. each natural person accepting this Agreement, entering Transactions and the performance of all obligations contemplated under this Agreement have been duly authorized by you and have been disclosed to us providing all the necessary information and/or documentation.
  3. you have all necessary authority, powers, consents, licenses and authorizations and have taken all necessary action to enable you lawfully to enter into and perform this Agreement and such Transaction and to grant the powers referred to in this Agreement;
  4. the persons accepting this Agreement and each Transaction have been duly authorized to do so and are disclosed to us giving details of the relationship with you by providing all necessary information and/or documentation;
  5. this Agreement, each Transaction and the obligations created under them both are binding upon you and enforceable against you in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of any regulation, order, charge or agreement by which you are bound;
  6. no Event of Default or any event which may become (with the passage of time, the giving of notice, the making of any determination or any combination of the above) an Event of Default (a “Potential Event of Default”) has occurred and is continuing with respect to you;
  7. you act as principal and sole beneficial owner (but not as trustee) in accepting this Agreement and each Transaction and in case you wish to open, either in the present time or in the future, more than one Account with Shortline Consultant, Ltd. either as individual client (natural person) or as the beneficial owner of a corporate client or trust (legal person) it is required to immediately disclose to us that you are the beneficial owner of the Account(s) during the account opening procedure and to provide us with the necessary information and/or documentation regarding the relationship between the natural and/or legal person(s);
  8. any information which you provide or have provided to us in respect of your financial position, domicile or other matters is accurate and not misleading in any material respect;
  9. you are willing and financially able to sustain a total loss of funds deposited in your Account and those funds resulting from Transactions;
  10. trading in Transactions is suitable for you; and
  11. except as otherwise agreed by us, you are the sole beneficial owner of all funds you transfer to your Account under this Agreement.

Covenants:

You covenant to us:

  1. you will at all times obtain and comply, and do all that is necessary to maintain in full force and effect, all authority, powers, consents, licenses and authorizations referred to in this Clause;
  2. you will promptly notify us of the occurrence of any Event of Default or Potential Event of Default with respect to yourself;
  3. you will use all reasonable steps to comply with all Applicable Regulations in relation to this Agreement and any Transaction, so far as they are applicable to you or us;
  4. you will not send orders or otherwise take any action that could create a false impression of the demand or value for a financial product. Nor will you send orders which we have reason to believe are in breach of Applicable Regulations or by taking advantage of the Account(s) you may maintain with the company could be considered as irregular or illegal trading, including but not limited to one’s intention to benefit from delays in the prices or to abuse the Online Trading Platform at manipulated prices; and
  5. upon demand, you will provide us with such information as we may reasonably require to evidence the matters referred to in this Clause or to comply with any Applicable Regulations.

14. EVENTS OF DEFAULT

The following shall constitute Events of Default:

Failure to Comply

  1. you fail to make any payment when due under this Agreement or to observe or perform any other provision of this Agreement and such failure continues for one Business Day after notice of non-performance has been given by us to you; Liquidation, Insolvency and Other Arrangements
  2. you commence a voluntary or other procedure seeking or proposing liquidation, reorganization, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including any corporate or other law with potential application to you, if insolvent), or seeking the appointment of a trustee, receiver, liquidator, conservator, administrator, custodian or other similar official (each a “Representative”) of you or any substantial part of your assets, or if you take any corporate action to authorize any of the foregoing, and in the case of a reorganization, arrangement or composition, we do not consent to the proposals;
  3. an involuntary or other procedure is commenced against you seeking or proposing liquidation, reorganization, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including any corporate or other law with potential application to you, if insolvent) or seeking the appointment of a Representative of you or any substantial part of your assets and such involuntary case or other procedure either:
    1. has not been dismissed within five Business Days of its institution or presentation; or
    2. has been dismissed within such period but solely on the grounds of an insufficiency of assets to cover the costs of such case or other procedure;

Death or Mental Illness

  1. you die, become of unsound mind, are unable to pay your debts as they fall due or are bankrupt or insolvent, as defined under any bankruptcy or insolvency law applicable to you: or any indebtedness of yours is not paid on the due date therefore, or becomes capable at any time of being declared, due and payable under agreements or instruments evidencing such indebtedness before it would otherwise have been due and payable, or any suit, action or other proceedings relating to this Agreement are commenced for any execution, any attachment or garnishment, or distress against, or an encumbrancer takes possession of, the whole or any part of your property, undertaking or assets (tangible and intangible);

 

Third Party Providers

  1. you or any Third Party Provider (or any Representative acting on behalf of either of you or a Third Party Provider) disaffirms, disclaims or repudiates any obligation under this Agreement or any other document containing an obligation of aThird PartyProvider, or of you, in favor of us supporting any of your obligations under this Agreement ;
  2. any representation or warranty made or given or deemed made or given by you under this Agreement or any document that proves to have been false or misleading in any material respect as at the time it was made or given or deemed made or given;
  3. any Third Party Provider fails, or you yourself fail to comply with or perform any agreement or obligation to be complied with or performed by you or it in accordance with the applicable documents;
  4. any document that expires or ceases to be in full force and effect prior to the satisfaction of all your obligations under this Agreement, unless we have agreed in writing that this shall not be an Event of Default;
  5. any representation or warranty made or given or deemed made or given by any Third Party Provider pursuant to any document that proves to have been false or misleading in any material respect as at the time it was made or given or deemed made or given;
  6. any event referred to in Clauses 14.2 to Clause 14.4 of this Clause 14 (Event of Default) occurs in respect of any Third Party Provider;

 

Assorted

  1. we consider it necessary or desirable for our own protection, or any action is taken or event occurs which we consider might have a material adverse effect upon, your ability to perform any of your obligations under this Agreement;
  2. you fail or omit to disclose to us your capacity as the beneficial owner of more than one Account you may maintain with us and
  3. you take advantage of delays occurred in the prices and you place orders at outdated prices, you conduct any Irregular, Illegal and/or Prohibited Trading (Clause 9 (Trading Policies and Procedures)) and you perform any other action that constitutes improper trading; and/or
  4. any event of default (however described) occurs in relation to you under any other agreement between us.

15. RIGHTS ON DEFAULT

Default

In an Event of Default or at any time after we have determined, in our absolute discretion, that you have not performed (or we reasonably believe that you will not be able or willing in the future to perform) any of your obligations to us we shall be entitled, without prior notice to you:

  1. to pay to you the fair market value of open Transactions at the time we exercise such right;
  2. to Close Out any of your Transactions, as we may in our absolute discretion select or and upon such terms as we may in our absolute discretion think fit (without being responsible for any loss or diminution in price) in order to realize funds sufficient to cover any amount due by you hereunder;
  3. to Close Out any Transaction or take, or refrain from taking, such other action at such time or times and in such manner as, at our sole discretion, we consider necessary or appropriate to cover, reduce or eliminate our loss or liability under or in respect of any of your Transactions; and/or
  4. to cancel and/or consider void any Transactions and profits or losses either realized or unrealized and/or to close the Account(s) you maintain with us pursuant to this Agreement, immediately and without prior notice.

16.TERMINATION WITHOUT DEFAULT

Termination

Unless required by Applicable Regulations, either party may terminate this Agreement (and the relationship between us) by giving ten (10) Business Days written notice of termination to the other. Termination of this Agreement is only permitted when all open Transactions have been Closed Out by either you or us.

Upon terminating this Agreement:

  1. all amounts payable by you to us will become immediately due and payable including (but without limitation):
    1. all outstanding fees, charges and commissions;
    2. any dealing expenses incurred by terminating this Agreement; and
    3. any losses (subject to our no negative Account balance policy referred to in this Agreement) and expenses realized in Closing Out any Transactions.
  2. The company shall apply best Execution rules in cases where you have not provided the company with specific instructions regarding the Closing Out of your open Transactions.
  3. Shortline Consultant, Ltd. shall return any funds remaining in your Account to your bank account or credit card, specifically the account from which the funds were received.

Existing rights

Termination shall not affect then outstanding rights and obligations which shall continue to be governed by this Agreement and the particular Clauses agreed between us until all obligations have been fully performed.

17. RIGHTS IN THE PROPOSED BREACH

In the event of breach or breach at any time once we have determined, in our sole discretion, that you have not made (or to reasonably believe that it will not be able to perform or to be willing to make in the future) any of its obligations to us, in addition to any rights pursuant to clause 15 (Rights on default) will be entitled without notice to you previously :

1. instead of returning you investments equivalent to those paid to your account, pay the reasonable market value of these investments in the moment in which we exercise such right, 

2 sell those investments that are in our possession or in the possession of any candidate or third party appointed under this agreement, that we select in each case at our absolute discretion or according to the terms that we believe suitable to our total discretion (without being responsible for any loss or diminution in price) for achieving sufficient funds to cover any amount owed by you pursuant to this agreement;

3. close, replace or reverse any transaction, buy, sell, borrow celebrate any other transaction take or avoid taking further action at the time or times and in the manner which, in our sole discretion, we deem necessary or appropriate to cover, reduce or eliminate our loss or liability under or in terms of any of your contracts, positions or obligations; or 

4. Cancel or be considered null and void a transaction and profits or losses achieved so much as not reached or to close (s) account (s) maintained with us under this agreement, immediately and without prior notice.

18. Exclusions, limitations and indemnification

General Exclusion

Neither we, nor our directors, officers, employees, or agents shall be liable for any losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under this Agreement (including any Transaction or where we have declined to enter into a proposed Transaction) unless such loss is a reasonably foreseeable consequence or arises directly from our or their respective gross negligence, willful default or fraud. In no circumstance, shall we have liability for losses suffered by you or any third party for any special or consequential damage, loss of profits, loss of goodwill or loss of business opportunity arising under or in connection with this Agreement, whether arising out of negligence, breach of contract, misrepresentation or otherwise.

Tax implications

Without limitation, we do not accept liability for any adverse tax implications of any Transaction whatsoever.

Changes in the values of the Underlying Assets

Market orders are executed at the bid/ask prices offered through us. Pending or conditional orders (such as stop-loss, limit etc.) are executed at the price requested by you and offered by us. We reserve the right, at our full discretion, not to execute the order, or to change the quoted price of the financial product, or to offer you a new quote, in case of technical failure of our Online Trading Platform or in case of extraordinary or abnormal fluctuations of the price of the Underlying Asset as offered in the market. In the event we offer you a new quote you have the right to either accept it or refuse it and thus, cancel the order.

Without limitation, we do not accept any liability by reason of any delay or change in market conditions of the Underlying Asset before any particular order is executed resulting in a Transaction.

Limitation of Liability

We shall not be liable to you for any partial or non-performance of our obligations hereunder by reason of any cause beyond our reasonable control, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or principal of our custodian, sub-custodian, dealer, Exchange, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations. Nothing in this Agreement will exclude or restrict any duty or liability we may have to you under Applicable Regulations, which may not be excluded or restricted thereunder.

Responsibility for orders

You will be responsible for all orders entered on your behalf via an Online Trading Platform and you will be fully liable to us for the settlement of any Transaction arising from it.

Entire Agreement

You acknowledge that you have not relied on or been induced to enter into this Agreement by a representation other than those expressly set out in this Agreement. We will not be liable to you (in Equity, contract or tort) for a representation that is not set out in this Agreement and that is not fraudulent.

Indemnity

You shall pay to us such sums as we may from time to time require in or towards satisfaction of on a full indemnity basis, any losses (subject to our no negative Account balance policy referred to in this Agreement), liabilities, costs or expenses (including legal fees), taxes, imposts and levies which we may incur or be subjected to with respect to any of your Accounts or any Transaction or as a result of any misrepresentation by you or any violation by you of your obligations under this Agreement (including any Transaction) or by the enforcement of our rights.

19. Miscellaneous

Notices

Unless otherwise agreed, all notices, instructions and other communications to be given by us under this Agreement shall be given to the postal address, email address or fax number provided by you to us. Likewise, all notices, instructions and other communications to be given by you under this Agreement shall be given to us in writing at the address below:

Our Details

Name: Shortline Consultant, Ltd. & Shortline Consultant, Ltd.

Email: contact@top4fx.com

You will notify us of any change of your address for the receipt of notices, instructions and other communications immediately.

Electronic Communications

Subject to Applicable Regulations, any communication between us using electronic signatures and any communications via the website and/or Online Trading Platform shall be binding as if they were in writing. Orders or instructions given by you to us via e-mail or other electronic means will constitute evidence of the orders or instructions given.

Recording of calls

We may record telephone conversations without use of a warning tone to ensure that the material terms of the order and the Transaction, and any other material information relating to the order or the Transaction is promptly and accurately recorded. Such records will be our sole property and accepted by you as evidence of the orders or instructions given.

Our records

Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with our services. You will not object to the admission of our records as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request at our absolute discretion.

Your records

You agree to keep adequate records in accordance with Applicable Regulations to demonstrate the nature of orders submitted and the time at which such orders are submitted. You can access your statements online at any time (subject to systems maintenance and any technical issues) via the Online Trading Platform.

The guarantee fund of investment

Services participate as a member in the investment guarantee fund for clients of investment firms/firms regulated by the agencies of Belize ("IFSC"). The Fund compensated clients where the undertaking is not capable of fulfilling his duties and obligations arising from a claim. Any compensation provided to you by the guarantee fund's investments may not exceed thirty thousand (30,000) dollars. The fee applies to your global claims against us.

Company redirects the customer deposits to their liquidity providers. When the funds are contracted through a third party (such as a bank or liquidity provider) the company has no responsibility in the event of default, bankruptcy or any loss of funds corresponding to the end users.

Dispute resolution

We want to know about any problems or concerns you may have with our services so we can take steps to resolve the issue. We have internal and external dispute resolution procedures to resolve complaints from clients.

Initially, all complaints will be handled and investigated internally. Should you feel dissatisfied with the outcome, you have the ability to escalate your concerns to an external body for a resolution.

If you have a complaint about the financial services provided to you, please contact the company to inform us about your complaint. You may do this by telephone, fax, email(support@top4fx.com) or letter. We will investigate your complaint promptly. We will try to resolve your complaint quickly and fairly.

Claims Proceedings

The following data must be documentes:

  • The details of the ID of the Client which submitted the complaint.;
  • The service which is the object of the complaint;
  • The details of the employee whihc commited to provide the service to the client;
  • The department or organizational unity with the employee relations to;
  • The date of the reception of the complaint;
  • Breif description of the reason of the complaint;
  • The measute in finacial temrs of the potential loose that the clients affirms to have suffers or as deduced by the content of the complaint.
  • The date and, in summary, the content of the answer of the Company to the claim.

Third Party Rights

This Agreement shall be for the benefit of and binding upon us both and our respective successors and assigns. You shall not assign, charge or otherwise transfer or purport to assign, charge or otherwise transfer your rights or obligations under this Agreement or any interest in this Agreement, without our prior written consent, and any purported assignment, charge or transfer in violation of this Clause shall be void. You agree that we may without further notice to you and subject to Applicable Regulations, transfer by whatever means we consider appropriate all or any of our rights, benefits, obligations, risks and/or interests under this Agreement to any person who may enter into a contract with us in connection with such transfer and you agree that we may transfer to such person all information which we hold about you and all open Transactions.

Time of the essence

Time shall be of the essence in respect of all obligations of yours under this Agreement (including any Transaction and satisfying a Margin Call).

Rights and remedies

The rights and remedies provided under this Agreement are cumulative and not exclusive of those provided by law. We shall be under no obligation to exercise any right or remedy either at all or in a manner or at a time beneficial to you. No failure by us to exercise or delay by us in exercising any of our rights under this Agreement (including any Transaction) or otherwise shall operate as a waiver of those or any other rights or remedies. No single or partial exercise of a right or remedy shall prevent further exercise of that right or remedy or the exercise of another right or remedy.

Set-off

Without prejudice to any other rights to which we may be entitled, we may at any time and without notice to you set off any amount (whether actual or contingent, present or future) owed by you to us against any amount (whether actual or contingent, present or future) owed by us to you. For these purposes, we may ascribe a commercially reasonable value to any amount which is contingent or which for any other reason is unascertained.

Partial invalidity

If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired

 

20. Applicable law and jurisdiction

Governing law

This Agreement shall be governed by and construed in accordance with the laws of Cyprus.

Jurisdiction

Each of the parties irrevocably:

  1. agrees for our benefit that the courts of Belize shall have jurisdiction to settle any suit, action or other proceedings relating to this Agreement (“Proceedings”) and irrevocably submits to the jurisdiction of such courts (provided that this shall not prevent us from bringing an action in the courts of any other jurisdiction); and
  2. waives any objection which it may have at any time to the laying of venue of any Proceedings brought in any such court and agrees not to claim that such Proceedings have been brought in an inconvenient forum or that such court does not have jurisdiction over it.

Waiver of immunity and consent to enforcement

You irrevocably waive to the fullest extent permitted by applicable law, with respect to yourself and your revenue and assets (irrespective of their use or intended use) all immunity on the grounds of sovereignty or other similar grounds from suit; jurisdiction of any courts; relief by way of injunction, order for specific performance or for recovery of property; attachment of assets (whether before or after judgment); and execution or enforcement of any judgment to which you or your revenues or assets might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agree that you will not claim any immunity in any Proceedings. You consent generally in respect of any Proceedings to the giving of any relief or the issue of any process in connection with such Proceedings, including, without limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which may be made or given in such Proceedings.

Notification of the proceedings

If you are located outside of Belize, the procedure by which has place any lawsuit in Belize, you will be delivered to the address indicated by you for such purpose. This does not affect our right to serve process in any other manner permitted by law. 

Program 1 

Confirmation of interest policy.

Policy acknowledge

I confirm that it will not receive any interest of the balance of my account.

 

 

RISK DISCLOSURE STATEMENT

Shortline Consultant, Ltd. neither sells signals or recommendation, nor makes synchronized trading through its electronic services. Any operation made by you shall be of your own responsibility.

Note: The English version of this agreement is the version that applies and prevails whenever there is any discrepancy between the English version and other versions. 

In consideration of the agreement whereby the company agrees to sign contracts for difference ("CFDs") of unlisted shares ("OTC") and foreign exchange ("Forex contracts") exchange contracts with the undersigned (starting from now "client", "you"), customer acknowledges, understands and agrees that:

Trading is very speculative and risky 

Trading of CFDs and Forex contracts trading is very speculative, involves a significant risk of loss and is not suitable for all investors, but only for those investors that: 

a. understand and are willing to assume the economic, legal and other risks involved; 
b. they have experience and knowledge of trading in derivatives and underlying assets; and 

c. They are financially able to assume significant losses on the sidelines or tank top because investors may lose the total value of the contract, not only outside of the tank.

Neither CFDS nor the Forex contracts are investments for pension funds. The CFD and Forex contracts are among the most risky types of investment and can cause large losses. The customer acknowledges, accepts and endorses it assumes the risks of Trading CFDs and Forex contracts and that the loss of the whole of the balance of the client's account shall not alter the lifestyle of the customer.

Risks associated with long positions in CFDs

Being long in CFD means that you are buying CFDs in the market speculating that the market price of the underlying will rise between the time of purchase and sale. As holder of a long position, you will generally get benefits if the market price of the underlying increases while the CFD long position is open. On the other hand, you will have losses in general when the market price of the underlying drops while the CFD long position remains open. In addition, you can suffer losses due to the closure of the position should not have sufficient liquidity in the margin in your account to keep the position open.

Being short in CFD means that you are selling CFDs on the market speculating that the price of the underlying will fall between the time of purchase and sale. As holder of a short position you will usually benefit if the market price of the underlying drops as the short position is open. On the contrary, you will usually have losses if the market price of the underlying increases while its short CFD position remains open. The potential loss can therefore be greater than the initial margin deposited. In addition, you can suffer a loss due to the closing of the position should not have sufficient liquidity in the margin of your account to maintain the open position.

Leverage and low margin can lead to quick losses

High degree of "leverage" is a particular feature of CFDs and the Forex contracts. The effect of leverage makes investing in CFDs more risky to invest in the underlying assets. This comes from the applicable margin system in CFDs that usually involves a deposit is small relative to the size of the transaction, so that a movement of prices relatively small in the underlying asset can have a disproportionately large effect on operation. This can be both an advantage and a disadvantage. A small price movement in your favour can offer high performance at the deposit, however a small price against movement can result in significant losses that could exceed the deposited money. Such losses can occur rapidly. The higher the leverage the bigger the risk. Therefore the degree of leverage determines in part the result of the investment.

Customer margin requirements

Customer must keep the minimum margin requirement on their open positions at all times. It is the responsibility of customer to track your account balance. The client can receive a margin call perform an additional deposit to your account if the margin of the referred account is too low. the company has the right to liquidate any or all open positions when the required minimum margin is not maintained and may result in closing CFDs, or contracts Forex in losses that you will be liable.

Differential

The difference between our offer price and our price of demand is "Our differential" 'SPREAD'. Our spreads are fixed in our discretion since we act as market-makers, and any change becomes effective immediately.

Liquidation

The client understands that CFDs and Forex contracts can only be settled in cash and that the difference between the purchase price and the sale price partly determines the result of the investment.

OTC transactions

When you trade with CFDs or Forex contracts with us, such transactions will be not executed in a recognized or designated investment market and are known as OTC transactions. All positions open with us must be closed with us and can not be closed with any other entity. OTC transactions may involve greater risk than investment in exchange contracts because there is a market in which close an open position. It may be impossible to liquidate an existing position, assess the situation arising out of an OTC transaction or assess the exposure to risk. Supply and demand prices may not have been established by us taking into account the best execution policies applicable in the market. There is no central clearing or guarantee by any part of the obligations of the company with the client, so the client is exposed to the credit risk with the company. The client should wait the company only the execution of all contracts in customer's account and the performance of all margin or collateral.

Prices, margin and valuations are set by the company and may be different from the recorded elsewhere

The company fixed prices used in trading, valuation of customer and position determination of the requirements of margin according to their operations and procedures policies and market information lists. Your CFD or contract Forex performance will depend on the prices fixed by the company and the market fluctuations in the underlying asset referred to in his contract. Each underlying asset is therefore specific risks affecting the result of the CFD and/or Forex corresponding. 

Our prices for a given market are calculated by reference to the price of the relevant underlying asset which we obtain from outside sources. For our CFD and Forex contracts, we obtain prices from wholesalers market share data. Although the company expects that these prices are reasonable correlation with the prices available in the market, the company prices may vary from the price available for banks and other market participants. The company has considerable authority for setting and collecting margin. The company is authorized to convert funds in customer's account to increase customer margin from and to a foreign currency at the exchange rate determined by the company at its sole discretion based on the prevalent in the market change.

Trading in Underlying Assets which have been Suspended or Halted

An Underlying Asset may be suspended, delisted or subject to a trading halt on the relevant Exchange (or other market). In such circumstances, you acknowledge and agree that Shortline Consultant, Ltd. may, in its absolute discretion, cancel any order which has not been executed or Close Out any open Transaction.

Should Shortline Consultant, Ltd. exercise its discretion to Close Out any open Transaction it will also exercise its discretion to determine a price or value. You acknowledge that Shortline Consultant, Ltd. discretion is unfettered and so has no condition or qualification. Our discretion in determining a price or value will be exercised reasonably. You acknowledge you have the risk of relying on whatever price or value is determined by Shortline Consultant, Ltd.

If the Underlying Asset is a security (share) which ceases to be quoted on the relevant Exchange or is suspended from quotation for three consecutive Business Days on that Exchange, or such lesser period agreed between you and Shortline Consultant, Ltd., you acknowledge and agree that Shortline Consultant, Ltd. has a discretion to Close Out your open Transaction.

Currency risk

Investment contracts Forex and CFDs with an underlying asset listed in a currency other than your base currency implies a risk of currency, due to the fact that when the CFD or Forex contract is set in a currency other than the base currency, the return value can be affected by its conversion to the currency base.

One-Click Trading

To use one-click trading, you must go to the “Settings” menu and choose “View and Edit”. You should check the “One-Click Trading” box. To enter an online order with one-click trading, you must access the Markets window and enter the price and lot size. The order is filled shortly after you click the BUY/SELL button provided you have sufficient funds in your Account. Orders may fail for several reasons including changing quoted prices, insufficient funds to meet Initial Margin, unspecified lot size or unanticipated technical difficulties. One-Click Trading can also be used when Closing Out positions.

The company is not a consultant or customer trust

When the company provides general comments on markets, such generic comments do not constitute a personal recommendation or investment advice and does not take into account your personal circumstances or investment objectives, or are an offer of purchase or sale, or the solicitation of an offer of purchase or sale of any foreign exchange contract. Every decision made by a client to sign a CFD or Forex contract with the company and each decision as to the appropriate which can be a transaction for a client, is an independent decision made by the client. The company is not acting as a consultant or customer trust. Customer agrees that the company has no duty to the client trust and that the company is not responsible for any claims, damages, costs and expenses, including costs of lawyers, those incurred in relation to the follow-up by the customer of the general recommendations of the company or to any action or inaction based on any recommendations or general information provided by the company.

Markets reviews are not guaranteed

The generic market comments offered by the company are based solely on the criterion of the personnel of the company and should thus be considered. Customer acknowledges that Customer subscribes any operation based on the customer's own criteria. All comments offered on markets is only generic and may be or not consistent with the market positions or intentions of the company and/or its affiliates. Generic company market reviews are based on information that is considered reliable, but the company does not warrant or guarantee the accuracy or veracity of the same, nor it intended that the tracking of such generic comments can reduce or eliminate the risk inherent in trading CFDs, or contracts Forex.

There is no guarantee of benefits

There is no guarantee of profits or avoid losses when operating with CFDs and Forex contracts. Customer has received no such assurances from the company or any of its representatives. The customer is aware of the risks inherent in trading CFDs and Forex contracts and is financially able to take such risks and withstand losses which may be incurred.

The client may not be able to close open positions

Due to market conditions that can cause quick and unusual fluctuations of prices or other circumstances, company may be unable to close the position of the customer at the price specified by the client, and risk controls imposed by the company may not work and the client agrees that the company shall have no liability therefore.

Internet trading

When client trades online (via Internet), the company is not responsible for claims, losses, damages, costs or expenses caused, directly or indirectly, by any malfunction, interruption or failure in any transmission, communication, computer equipment or software, trading system so if belongs to the company, the customer or any resolution or Exchange System.

Mistakes in quotes

If an error quote happens (including responses to customer questions), the company shall not be responsible for any error in the balance of the accounts and reserves the right to make necessary corrections or adjustments to the relevant account. Any dispute arising out of these quote errors will be resolved on the basis of the fair market price, as determined by the company in its only criterion and acting in good faith, in the relevant market at the time such error occurred. In cases where the present market differs in price with respect to the prices that the company presents in our screen, the company will strive to execute transactions in or close to the prevailing market price. These prevailing market prices will be the prices that are finally reflected on the customer statements. This could affect or not profits or actual or potential customer losses. 


I/we have read, understood and accepted the Declaration of disclosure of risks and trading and procedures above policies.

 

 

 

 

 

 

 

 

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