5.1. Upon execution of this Agreement, the Company shall set up an account in your name and ownership in the System. The account and other relevant details shall be in accordance with the information provided by you, as shall be required by the Company from time to time. You must ensure that the information provided by yourself is complete, true and accurate. It is hereby clarified that the provision of misleading information may be regarded as an offence and shall entail immediate cessation of activities in your account or its immediate closure. You acknowledge that upon the completion of your identification process by the Company, it may report you as a beneficiary in the applicable account held by the financial institution with which the Company deposits the Collateral funds, in amounts up to the credit balance recorded in your account at the System from time to time, and to that end may transfer identification details provided to it by yourself.
5.2. By accepting all of the terms and conditions of this Agreement, you hereby authorize and empower the Company, until written notice contrary to the effect shall be received from you by the Company to carry out orders and activities in accordance with your instructions or according to instructions provided by your duly authorized agent(s) in writing and/or orally all in accordance with the powers granted to the Company under this Agreement and/or for the provision of the Services.
5.3. To remove any doubts, the execution of any Transaction in the account is subject to the deposit of the Collateral by you. The Company shall not allow you to execute any Transaction without the said deposit and/or in the event that the Collateral is insufficient for the execution of a said Transaction, subject to the Company’s policy from time to time. To remove any doubts, in the event that the Company allows you to commence trading before it receives confirmation of deposit of Collateral by you, and in effect no Collateral was deposited, the Company shall have the right to deduct from any profits gained by you the amount which should have been deposited as collateral prior to your commencement of trading. All funds shall be held by the Company for you and the Company may deposit such funds with any financial institution including but not limited to such funds being used as collateral for the e Company’s Transactions. In the event that a Transaction shall take place and for some reason there shall be no sufficient Collateral in your account, the Company shall have the right to decrease your exposure in the said Transaction and/or approach you to rectify such required Collateral and/or demand from you payment in full for any deficiency which has occurred by your Transaction which was not covered by sufficient Collateral. It is hereby expressly stated, that the above mentioned right of the Company, does not obligate it to decrease your exposure in any Transaction and you shall have no claims against the Company regarding your losses resulting from the decrease or non-decrease of your exposure in any particular Transaction by the Company.
5.4. To remove any doubts, it is hereby clarified that the Company may, at its sole discretion, amend form time to time the terms governing the use of the System, the scope of its Services and the sum of the Collateral required for the execution of Transactions by you, without prior notice. However, any such change to the rules made whilst the site is in operation will not apply retrospectively and will only apply to acquisitions of financial contracts made after such change.
5.5. Upon the opening of the account, the Company shall issue you with a confidential personal identification code (hereinafter: the “Access Code”) to be used by you to operate your account via the Internet. You hereby irrevocably undertake to safeguard the Access Code and hereby waive any and all claims against the Company relating to any unauthorized use of the Access Code.
5.6. Acquisition of Financial Contracts through the System must be effected in accordance with the latest version of the terms and conditions presented in this site. To remove any doubts, the Company may amend, change or cancel any part of the said terms and conditions, and their effect shall be from the date such amended terms have been inserted into the site. Acquisition of a Financial Contract is completed when the Financial Contract has been customized, the premium (or the pat, as the case may be) has been calculated and payment has been verified.[ back to top ]