Forex Bank LA€¦ · international Forex Market and derivatives markets to any uridical entity or individual, hereinafter referred to as the Client in the order and on the terms

www.forexbankla.com ClientAgreementForexBankLA

ForexBankLACLIENTAGREEMENT


CLIENTAGREEMENTForexBankLAfinancialsassetsBroker,managedbyCryptoMargenLLCregisteredinSaintVincent an the Grenadines, Registration Number 315/20, and regulated according toFinancialServicesAuthority(SVGFSA)folio808/2020ofSaintVincentandtheGrenadines,Kingstown, member of the British Commonwealth of Nations - Address: 305 GriffithCorporateCenter,Beachmont,Kingstown,andSmartTradeCompanySAincorporatedinPanamawith registrationnumber2,513 Law32/1927andDecree Law5/1997.Address:PuntaColón2000Piso37,PanamaCity ,operatesthebrandForexBankLAhereinafterreferred to as the Company, offers services of conversion arbitrage operations in theinternational ForexMarket and derivativesmarkets to any uridical entity or individual,hereinafter referred to as the Client in the order and on the terms governed by thisAgreement.This Agreement is a web-based document which does not need to be signed. TheAgreementcomesintoeffectatthemomentofacceptancebytheClient.This Agreement can be translated into all languages of the Company's website atwww.forexbankla.com.Thetranslationwillhaveaninformativecharacter. IncaseofanydiscrepancybetweentheEnglishversionoftheAgreementanditstranslation,theEnglishversionshalltakepriorityoverotherlanguageversions.IfoneormoreoftheprovisionssetoutinthisAgreementshouldbeconsideredtobeinvalidorunenforceable,thevalidityandlegalityoftheremainingprovisionscontainedhereinshallnotinanywaybeaffected.TheClientacceptsthisAgreementfullyandunconditionallywhenhe/she:—fillsinRegistrationFormtoopenatradingaccountwiththeCompany,availableonfreeaccesstermsattheCompany’sofficialwebsite.—makesadepositinhis/hertradingaccountinthemannerprescribedbytheCompany.GlossaryActiveaccount–Client’scurrentaccountusedinthecourseofthelast90days.Advisor – Trading account's control algorithm in the form of a program in specializedlanguage “MetaQuotes Language“,which sends requestsandorders to the serverusingClient'sTerminal.Arbitragetransaction–anoperationwhichconsistsinbuyingassetsononemarketandat


thesametimesellingitscounterpartonanothermarket.Itlocksthedifferenceinthevalueoftheseassetsondifferentmarkets.It’sevidentthattheportfoliovalueremainsroughlythesameregardlessofthefurthermarketmovements,asthecountertransactionscovereachother.Next,assoonasthechangeinthepricedifferenceturnsinClient’sfavor,thecounterarbitragetransactionisconductedinordertofixtheprofit.Atransactionconsistingonly in buying (selling) financial assets on onemarketwithout selling (buying) themonanothermarketcanalsoberegardedasanarbitrajetransaction,providedthatthereisaconsiderablepricegapbetweenthequotesoftheseinterconnectedmarketsatthemomentofopeningorclosingthetransaction.Ask–higherpriceofaquote;priceatwhichtheClientbuys.Assets,total–EquityintheMaintradingaccountshownintheClient’sProfile.Availableforoperations–FreemarginintheMainTradingaccount.Balance – total result of all completed financial transactions and withdrawal/depositoperations.Basecurrency–currencyoftheaccount,inwhichallbalances,commissionfeesandchargesaredenominatedforbothClient’sTerminalandClient’sProfile.Bid–lowerpriceofaquote;priceatwhichtheClientsells.Client–individualorjuridicalentity,registeredintheClient'sProfile,conductingconversionarbitrageoperationswiththeCompanyatthequotesprovidedbytheCompany.Client'slogfile–afilecreatedintheClient'sterminalwhichinstantlyrecordsallrequestsandorderssentbytheClient.Client'sProfile–secureareaattheCompany’sofficialsitedesignedtoprovideaccesstoall main account operations and interaction between the Client and the Company inaccordancewithinbuiltsoftwarealgorithm.Client'sterminal–softwareversionofMetaTraderx.xxx,withthehelpofwhichtheClientcanobtainonline informationabout financialmarkets (to theextentdeterminedby theCompany), carry out technical analysis of markets, conduct trading operations, place,modify,deleteordersandreceivemessagesfromtheCompany.Commission–aprofitshareexpressedinmonetarytermsandtransferredfromtheCopyTrader’saccounttotheTrader'saccountonceevery24hoursautomatically.Company–juridicalentity,responsibleforprovidingtransactionsexecutionandmakingpaymentstotheClientinaccordancewiththisAgreement.Company'sworkingtime–periodoftimeduringtheworkingweek,whentheTradingPlatformprovidesexecutionoftransactionsonstandardcurrencycontracts.Exceptionsareweekends,holidays,temporarychangeswithintheCompanyandintervalswhenserviceisnotavailableduetotechnicalreasons;inthiscasetheCompanyshallassumemeasurestonotifytheClientofchangesintheworkinghoursandenabletheClienttoeliminatearisingrisks.Contractspecifications–basictradingconditions(spread,lotsize,minimumvolumeof


trading operation, a step change in the volume of trading transactions, initial margin,marginforbockedpositions,etc.)foreachinstrument.Copysettings–parametersoftheCopyTrader'saccountwhichdefinetherulesofCopytrading.CopyStopTerms–aparameterofCopysettingswhichdefinesthemaximumamountoflossorprofitinrelationtoAmounttocopy.Oncethislevelachieved,theTrader’stradescopiedearlierareclosedandCopyingofnewtradesissuspended.CopyTrader–ClientwhocopiesTraders’trades.Copyingafixedsizeofeachtrade–аcopytypethatimpliesthatthevolumeofatradecopiedontotheCopyTrader'sAccountisalwaysidenticaltothevolumepre-setinlotsinCopySettings.Copyingapredefinedpercentofeachtrade–acopytypethatimpliesthatthevolumeofatradecopiedontotheCopyTrader'saccountisidenticaltoapre-setpercentageofthevolumeoftherespectivetradeontheTrader’saccount.CopyinginproportiontoCopyTrader’sequity–acopytypethatimpliesthatthevolumeofatradecopiedontotheCopyTrader'saccountisdefinedbytheratiooftheAmounttoCopytotheequityintheTrader’saccount.Copying/Copy/Copytrading–opening/closureofatradeintheCopyTrader'saccountrightafteranopening/closureofatradeintheTrader’saccountwhichhasthesamedirectionastheTrader'stradeandwhoseparametersaredependentonCopysettings.Currentprice–thelastactualpriceatthemomentofprocessingtheorder.Currentvariation–unfixedprofitorlossinallopentradesintheMainTradingaccount.Developer–Company“MetaQuotesSoftwareCorp”,thedeveloperofthetradingplatform.Equity–securedportionoftheClient'sdepositwiththeaccountofopenpositionswhichisbountoBalanceandFloating(Profit/Loss)withthehelpofthefollowingformula:Balance+Floating+Swap.ThesearethefundsontheClient'saccountdecreasedbytheamountofthecurrentlossontheopenpositionsandincreasedbytheamountofthecurrentprofitontheopenpositions.Equityused–MarginintheMainTradingaccount.FlowofQuotes–sequenceofquotesforeachinstrumentinthetradingplatform.ForceMajeure–eventsthatcannotbeforeseenandprevented.Asarule,theseare:naturaldisasters,wars,actsofterrorism,actsofgovernment,legislativeorexecutiveauthorities,hackerattacks,andotherunlawfulactsagainstserversresulting indestabilizationofthemarket(s)whereof1orseveraltradinginstrumentsaretraded.FreeMargin–fundswhicharenotusedasmarginforopenpositions.Itiscalculatedasfollows:FreeMargin=EquityminusMargin.HedgeMargin–depositrequiredbytheCompanytoopenandmaintainhedgedpositionsandindicatedincontractspecificationsforeachinstrument.


MainTradingAccount–aTradingaccountusedforTradingandNon-tradingoperationswithintheClient’sProfileand/orshowninTraders’Rating.Margin–moneydepositrequiredbytheCompanytoopenandmaintainpositions.MarginLevel–indicationshowingthestateoftheaccount.Itiscalculatedasfollows:(Equity/Margin)*100%.MarginTrading–conductingofarbitrageoperationswithcontractsoncurrenciesinwhichthevolumeofopenpositionsexceedsseveraltimesthesizeofthevariationmargin.MarketExecution–TypeoforderexecutionwhentheCompanymakesadecisionconcerningtheexecutionpricewithoutpreliminaryagreementwiththeClient.Sendingamarketorderinthismodeimpliesacceptingbeforehandapriceatwhichtheorderwillbeexecuted.Marketopening–resumptionoftradingafterweekends,holidaysorabreakbetweentradingsessions.Non-marketquote(spike)–aquotewhichmeetseachofthefollowingterms:significantpricegap;returnofthepricewithinashortperiodoftimetotheinitiallevelwithapricegap;absence of fast price dynamics before this quote; lack of macro-economicdevelopmentsand/orcorporatenews,havingsignificantimpactontheinstrumentrateatthemomentwhenitturnsup(theCompanyhastherighttodeleteinformationaboutSpikesfromtheserver'sdatabase).Non-tradingoperation–aprocessoffundsdepositinginatradingaccount(withdrawalofthe funds from a trading account) or a process of granting (repayment) of credit, ordistributionoffundstotheaccountswithintheClient’sProfile.Normalmarket–see“Normalmarketconditions”.Normalmarketconditions–stateofthemarket,satisfyingeachofthefollowingconditions:absenceoflongbreaksinthereceiptofquotestothetradingplatform;absenceoffastpricedynamics;lackofsignificantpricegaps.Openedposition–theresultofthefirstpartofacompletedtransaction.AsaresulttheClientisobliged:tomakeanoppositetransactionofthesamevolumeandmaintainEquityofhis/heraccountnotbelowtheStopOutlevelestablishedforthistypeofaccount.Order–Client'sinstructiontotheCompanytoopenorclosepositionwhenthepricehasreachedtheleveloftheorder.PaymentCurrency–currency,inwhichdepositsandwithdrawalsareexecutedPendingorder–Client'sinstructiontotheCompanytoopen(close)positionwhenthepricereachestheleveloftheorderloggingintothesystemandtheinformationnecessaryforauthorizationandrecords.Pricegap–eitheroftwosituations:BidofthecurrentquoteishigherthanAskofthepreviousquote;AskofthecurrentquoteislessthanBidofthepreviousquote.


Price gap at themarket opening– either of two situations: Bid of the openingmarketquoteishigherthanAskoftheclosingmarketquote;AskoftheopeningmarketquoteislessthanBidoftheclosingmarketquote.Priceoftheorder–pricespecifiedintheorderPricepriortospike-closingpriceofaminutebarpriortotheminutebarwithSpike.Profitsharing–ashare(%)intheCopyTrader’sprofitmadeoveracompletedtradingperiodwhoseamountisdeterminedbytheTraderandwhichshallbepaidintotheTrader'saccountfromtheCopyTrader’saccountasaCommissionforCopytrading.Server–softwareofMetaTraderServerx.xxx,whichprocessesClient'sordersandrequests,providestheClientwithonlineinformationabouttradesinthefinancialmarkets(totheextentdeterminedbytheCompany),keepsrecordofmutualobligationsbetweentheClientandtheCompanyandcontrolscompliancewithtermsandrestrictions.Server'slogfile–afilecreatedbytheserverwhichinstantlyrecordsallrequestsandorderssentbytheClientthroughtheTradingplatform,andtheresultsoftheirprocessing.Sizeoflot–amountofbasecurrencyinonelot,definedinthecontractspecification.Spike–see«Spikequote».Spread–differencebetweenAskandBidquotesinpips.Statement–fulllistofcompletedtransactionsandnon-tradingoperationsonthetradingaccount.Stop&Limit-aparameterwhichallowssettinganytypeofpendingorderatthedistancefromacurrentpricelevelequaltoorhigherthanthevalueofthisparameterexpressedinpoints.Swap(swap-storage)–fundswhicharewithheldoraddedtotheClient'saccountforprolongation(suspension)ofapositionuntilnextday Ticket–uniqueidentificationnumberassignedtoeachopenpositionorpendingorderinthetradingplatform.Tradingaccount–uniquepersonifiedregisterofoperationsinthetradingplatformopenedbytheClientwiththeCompanywhichrecordstheClient’sandtheCompany’sobligationsandliabilitiesarisingoutoftransactionsconductedunderthisAgreement.Tradinginterval–aperiodoftimewhichstartsassoonasCopyTradinghasstartedorright after a Commission payment, and which ends right before the next Commissionpayment.Tradingoperation–buyingorsellingofaninstrumentbytheClient.Trading platform – a set of software and hardware which provides information abouttradinginthefinancialmarketsintherealtimemode,enablestradingtransactions,recordsmutualobligationsoftheClientandtheCompanyandcontrolscompliancewithtermsandrestrictions. In simplified form for the purpose of this Agreement, it consists of Server,Client'sterminalandClient’sProfile.


Tradingsession–timeintervalduringwhichtheCompanyacceptsandprocessesrequestsfor conducting transactions with trading tools that are not traded 24 hours, and alsoreleasesflowofpricesforthesetools.Transaction–thewholerangeoftradingoperationswhenfundsaretransferredfrombasecurrencyintothecurrencyofaquoteandviceversa.Volatility–instability,variabilityofmarketratesoveraconcreteperiod.Volume–aparameterofCopysettingsforthe“Copyingafixedsizeofeachtrade”whichdefinesthevolumeofthetradestobecopiedontotheCopyTrader'saccount.It'smeasuredinlots.Volumeoftradingoperations–numberoflotsmultipliedbyalotsize.1.Termsofwork1.1.TradingaccountoperationsareconductedinaccordancewiththisAgreementwhichisavailablefordownloadingontheCompany'sofficialwebsite.1.2.TheCompanyprovidescalculationofinterestonfundsdepositedinthetradingaccountsandnotusedfortradingintheamountandintheorderspecifiedinthetradingconditionsontheCompany'sofficialwebsite.1.3.TheClientisundernocircumstancesallowedtousetechnicalfailuresandeventualvulnerabilityoftheoperationoftheTradingPlatformformakingprofits.Upondetectionofsuchfacts,theCompanyreservestherighttocompensateforlossescausedbytheClient’sactionsattheexpenseoftheClient(byuseoffundsavailableintheClient’saccounts)andterminatethisAgreementunilaterally.1.4.UnderthetermsofCopyTradingprovision,theCompany'sliabilityshallbelimitedtoprovidingtheClientswithduetechnicaloperationoftheCopyTradingsoftwareandServer,andshallnotconcernTraders’tradingresults.1.5.Non-tradingoperationswithinClient’sProfiletargetedatgainingprofitarebanned.2.Procedureofopeninganaccount2.1.AClientofForexBankLAcanbeanaturalpersonoffulllegalageorajuridicalperson.2.2.TheClientfillsinaregistrationformtocreatehis/herPersonalprofileintheClient'sProfile and opens an account with the Company in the Client's Profile which is freelyavailableontheCompany'sofficialwebsite.


2.3.TheClienthastherighttoregisteronlyonePersonalProfile.2.4.TheClientreceivesanelectronicaccesstoaccountmanagementwhenregisteringhis/herPersonalProfile.2.5.Depositandwithdrawaloperationsareexecutedinthecurrencystipulatedforgiventype of trading account through appropriate interface of the Client's Profile located atmy.forexbankla.com3.DescriptionofCopyTrading3.1.TheCompanyprovidesautomationofCopyTradingaccordingtocurrentCopySettingsbyuseofTradingPlatform;calculationandpaymentofCommission;updateonthestateofTraders’accountsinTraders’Rating.3.2.TheCompanyreserves theright todeny theClient theCopyTradingserviceand/ordisplayofhis/heraccountinTraders’Ratingwithnoreasongiven.3.3. The Client's acceptance of the terms of the Agreement does not form contractualrelationships between the Copy Trader and Trader and therefore does not result inconcludinganagreementbetweenthem.3.4.TheTraderhasarighttouseanytradingstrategycomplyingwiththisAgreement.3.5.TheTraderconductstradesbyuseofhis/herownfundsanddoesnotprovideassetinvestmentservicesoradvicetoClients.3.6. TheCopy Trader has a right to set theparameters of Copy settings independently,including the possibility to change the Percent of theVolume,which allows him/her toequatetradingrisksintheCopyTrader'saccountwiththerisksintheTrader'saccount,orcutthemdowntoanacceptablelevel.3.7.TheTraderhasarighttosethis/herProfitShareina0%–100%rangeandchangeitatany time.At thesame time, thenewvalueofProfitSharewillnotapply to theexistingtradingaccountsofCopyTraders.3.8.Allowinghis/heraccounttobeshowninTraders’Rating,theClientconfirmshis/herconsenttoCopyingtradesfromthisaccount.3.9.TostartCopying,theClientshallchooseaTraderfromTraders’RatingandaCopytype,specifyAmounttocopyandCopySettingsrelevanttotheselectedCopytype.


3.10.TheCopyTraderhasarighttochangeCopysettingsatanytimeundertherelevantCopy Type. Changes will not apply to the trades copied earlier and will only concernsubsequenttrades.Copytypecannotbechanged.3.11.Traderunderstandsandagreesthat,ontheaccountavailableforCopyingtradesfromlockedpositionscannotbeclosedusingTradingPlatform’sfunctions«Close#...by#...»and«MultiplyCloseBy»describedinparagraphs6.18and6.19.3.12.TradesfromtheTrader’sownaccountmaynotbecopied.3.13.TradesfromtheTrader’saccountarecopiedtotheCopyTrader’saccountprovidedthat there is enough equity on the Copy Trader’s account. The Company does not payCommission for the trades thatwere not copied because of lack of equity in the CopyTrader’saccount.3.14.The tradescopiedonto theCopyTrader'saccountareexecutedat currentmarketpriceswhichthereforecanbedifferentfromthepricesatwhichtherespectivetradeshavebeenexecutedintheTrader'sAccount.TheCompanydoesnotcompensateforaneventualdifferenceinprofit/lossandeventualdifferenceinCommissionamountsconcerningsuchtrades.3.15.IfthevolumeofatradetobecopiedontotheCopyTrader'saccountismorethanthemaximumtradevolumesetbytheCompanyonthetradingserverforaparticulartradinginstrument,thetradeshallbecopiedwiththemaximumtradevolumeapplicabletothistradinginstrumentonthetradingserver.3.16.IfthevolumeofatradetobecopiedontotheCopyTrader'saccountislessthantheminimumtradevolumesetbytheCompanyonthetradingserverforaparticulartradinginstrument, thetradeshallbecopiedwiththeminimumtradevolumeapplicabletothistradinginstrumentonthetradingserver.3.17.WhencalculatingthevolumeofatradetobecopiedontotheCopyTrader'sAccount,the volume shall be rounded to a value equal to 1 trade volume increment set for thetradinginstrument.3.18.AllCopySettingsshallbesetbytheCopyTraderindependently.TheTradercannotinfluencethechoiceofCopyTypeorthecopyingprocessingeneral.


3.19.TheCompanyprovides four typesofCopyTradingandeachof themhasdifferentparametersofCopySettings:3.19.1.Fullsizecopying1to1.ThisCopytypeimpliesthatthevolumeofatradecopiedontotheCopyTrader'saccountisequaltothevolumeoftherespectivetradeintheTrader'sAccount.3.19.2.Copyingafixedsizeofeachtrade.ThisCopytypeimpliesthatthevolumeofatradecopiedontotheCopyTrader'saccount isalways identicaltotheVolumepre-set inCopySettings.3.19.3.Copyingapredefinedpercentofeachtrade.ThisCopytypeimpliesthatthevolumeofatradecopiedontotheCopyTrader'saccountisequaltothevolumeoftherespectivetrade in the Trader's account multiplied by the Percent of the Volume. The followingformula applies to this Copy type: Trade volume in the Copy Trader's account = TradevolumeintheTrader'saccount*PercentoftheVolume/1003.19.4. Copying in proportion to Copy Trader’s equity. This Copy type implies that thevolumeofatradecopiedontotheCopyTrader'saccountshallbecomputedbyuseofthefollowingformula:Trade volume in the Copy Trader's account = Trade volume in the Trader's account *Amounttocopy/Trader'sEquity,whereAmounttocopyisdefinedbyCopySettings;Trader’s Equity is the amount of funds in the Trader's account at themoment of tradecopying.3.20.InordertolimitpotentiallossesintheCopyTrader'saccount,theClientmaysetCopyStopTerms:a)MaximumprofitexpressedintheCopyTrader’saccountcurrency.Thisvaluereached,Copyingwillbesuspendedandtradescopiedearlierwillbeclosed;b)Maximum loss expressed in the Copy Trader’s account currency. This value reached,Copyingwillbesuspendedandtradescopiedearlierwillbeclosed;3.21.TheequityamountintheCopyTrader'saccountiscomparedwiththeCopyStopTermsevery3(three)minutes.3.22.EveryTradingInterval intheCopyTrader'saccountendswithCommissionPaymenttakingplaceonceevery24hours.3.23.CommissionpaymentoccursinthepresenceofapositiveaggregateprofitfromcopiedtradesintheCopyTrader'saccount.OnlythetradescopiedfromtheTrader’saccountandclosed after the previous Commission payment shall be considered when calculatingaggregateprofits.


3.24.DuringCommissionpayment,CommissionisdeductedfromtheCopyTrader’saccountandtransferredtotheTrader'saccount.3.25. The amount of Commission is computed by means of the following formula:Commission=AggregateprofitsfromcopiedtradesoverTradingInterval*ProfitShare/1003.26.AllsettlementsbetweentheTraderandtheCopyTraderarerealizedonlybyuseofthe special softwaredevelopedby theCompany. If CommissionPaymenthasnot takenplace due to a technical failure, it shall be executed as soon as the failure has beeneliminatedandtheoperationoftheClient’sProfilehasbeenresumedinfull.3.27. A request for Commission Payment is made automatically in Copy Trader's eachparticularAccountinthefollowingcases:a)EndofCopying;b)ChangeinCopySettings.3.28.IncasethereisnotenoughequitytopayoutCommission,apartialpaymentequaltotheamountofavailableequitywilltakeplace.3.29.TheCopyTraderhasarighttoendCopyingatanytime.Atthesametime,theCopyTraderrealizesandagreesthatallcurrentcopiedtradeswillbeclosedatcurrentprices.AllsettlementsandCommissionPaymenttakeplaceautomaticallybeforetheendofCopying.3.30.FortheTrader’saccounttoberemovedfromTraders’Rating,thefollowingactionsshallbeperformedinthegivenorder:a)RequesttoperformautomaticsettlementsandCommissionPaymentinallcurrentCopyTraders’accounts;b)ClosureofallcopiedtradesinCopyTraders’accounts;c)DetachmentofallCopyTradersfromthegivenaccount.3.31.TheTraderhastherighttostopCopyTradinginhis/herMainTradingAccountatanytime.Atthesametime,allcurrenttradesintheaccountremainopen.3.32.TheCompanyhastherighttoremovetheClient'sAccountfromTraders’Ratingwithnoreasongivenandwithsubsequentnotice,andinthefollowingcases:a) Drop of the Trader's account overall profitability to/below -95% (minus ninety-fivepercent);b)Noactivityintheaccountina30-dayperiod;


c)DetectingfraudorviolationoftheprovisionsofthisAgreementorasuspicionthattheTraderhasperformedactionsaimedatmakingillegalprofitsfromusingtheClient’sProfile.3.33.TheCopyTrader'saccountequityavailableforwithdrawalsisdecreasedbythecurrentCommissionamount.3.34.TheCopyTraderfullyacceptsallrisksthatmayberelatedtoCopyTrading.3.35.TheCopyTraderassumesresponsibilityforprovidingenoughfundstoopenandmaintainpositionsinhis/heraccount,andforpayingCommission.3.36.TheCopyTraderunderstandsandagreesthataggregatemarginrequirementsintheCopyTrader'sandTrader'saccountsmaybedifferent.3.37.TheCopyTraderunderstandsandacceptsallpossiblerisksrelatedtolossesormissedprofitsincurredasaresultofroundingvalueswhenusingCopySettings.3.38.TheCopyTraderacceptsthefactthatthesuspensionofCopyinguponreachingCopyStopTermscantakeplaceatalatertimeandresultinabiggermaximumloss.3.39.TheTraderassumestheriskofnotreceivingCommissionorapartofCommissiondueto the absence of necessary funds in the Copy Trader's account at the moment ofCommissionPayment.TheCompanyshallnotbeheld liableforcompensationofmissedCommissioniftheamountcannotbedebitedfromtheCopyTrader'saccountinfull.3.40. Under no circumstances shall the Company assess the competence and business/ethicalqualitiesofTradersandbeliableforincurredlossesormissedprofits.3.41.TheCompanyshallnotbeheldliablefortheriskofdeliberateorinadvertentfailureof theTrader tosafeguard interestsofCopyTraders. Insuchcases,all risksshallbe theresponsibilityofCopyTraders.4.Settlementprocedure4.1.TheClienthastherighttowithdrawhis/herownfundswhicharenotencumberedwithdepositobligationsorCommissionpaymentsincaseofCopyTrading.4.2.Moneytransfersaremadewithin1-3bankingdays.


4.3.MoneytransfercanbedeferredbytheCompanyfortheperiodof14workingdaysinexceptionalcasesrequiringverificationofcomplianceoftradingandnon-tradingoperationsconductedbytheClientwiththetermsandconditionsofthisAgreement.Ifsuchsituationoccurs,CompanyshallimmediatelynotifyClientbye-mailspecifiedintheClientProfile.TheClient has the right to request the status of the verification process only by contactingTradingoperationsdepartmentbye-mailat:[email protected]’spaymentinstructionreceived,theamounttowithdrawisdeductedfromtheClient’saccountbalanceatthemomentofreceivingthepaymentinstruction.4.5.Incaseofreturnoffunds,theClientpaystransferfees.4.6.TheClientgivesallinstructionsrelatedtodepositsandwithdrawalsoffundsfromtheaccountthroughtheClient'sProfileathttps://my.forexbankla.comintheorderdeterminedbythealgorithmofClient'sProfileoperation.4.7.TheCompanycorrectsbalancesintheaccountswithafixednegativevalueinthe“Balance”columninthetradingterminalonthe1stofeachmonth.Correction(settingtozero)oftradingaccountsshallbeappliedsolelytothoseaccountsinwhichnotradesareconductedatthemomentofcorrection,i.e.noactiveopentradingpositionsarepresent(pending orders will not be considered). Bonus funds are deducted from the “Credit”columnwiththecomment“bonus_out(negativebalance)”.Atthesametime,fundsintheamountequaltothenegativebalancevalueareput intotheaccountwiththecomment“ZeroBalanceCorrection”.4.8.TheClientcanwithdrawfundsfromhis/heraccountusinganypaymentsystemwhichisaccessibleintheClient’sProfile.4.8.1.Iffundswithdrawalismadeviaelectronicpaymentsystems,thewithdrawalisposibleonlytothesamesystemandwiththesamepaymentdetailswithinthesystemthatwereusedtotopupthetradingaccount,andinsamecurrencyinwhichthedepositwasmade.Ifthe accountwas toppedup by differentways, in various currencies and using differentpaymentdetails,withdrawalsshouldbemadeproportionally.4.8.2.IftheClient’spaymentdetailswithinthepaymentsystemarechangedforsomereason,theClientshallnotifytheCompanybysendinganemailtothefinancialdepartmentwithaphotowheretheClientisholdinganIDclosetohis/herfaceattached.Otherwise,theCompanyreservestherighttodenyfundswithdrawalbyuseofnewpaymentdetails.


4.9.DepositofClient’sfundscanbemadebyanymethodsavailableontheCompany’ssite.4.9.1.TheClientacknowledgesthatincaseofsoftwarefailuretherecanbedelaysindepositingfundsinhis/hertradingaccount.4.9.2.TheCompanyundertakestodepositfundsintheClient’stradingaccountincaseofanysoftware failureresulting indelay inautomateddepositprovidedthat theCompanywasinformedaboutthedelaybytheClient.4.10. TheCompanydoesn’tcharge any deposit or withdrawal fees from Clients’tradingaccounts.4.11.TheClientunderstandsandacceptsthefactthathis/hermoneywithdrawalrequestmaybedeclined,andmoneywillberetransferredtotheClient’saccountiftheClientdidnotprovidenecessaryidentificationinformation(copyofIDdocument,bankcardoranyotherndocumentsrequiredbytheCompanybasedontheAMLpolicy)upontheCompany’srequestviaheClient’sProfilewithin7(seven)businessdaysfollowingtherequest.5.Typesoftradingaccountandtheirparameters5.1.ThetypesoftradingaccountswhichtheClientopenswiththeCompanyaredeterminedbythedescriptiontobefoundinClient'sProfile.TheparametersofthetradingaccountsavailabletotheClientarepresetbytheCompanywithinthefunctionallimitsoftheClient'sProfile.Themainparametersoftradingaccountsarethefollowing:Lotsize;Leverage;MarginCalllevel;StopOutlevel;Basecurrency.5.2.TheparametersofthetradingaccountsavailabletotheClientarespecifiedontheCompany'sofficialwebsiteinthe“Accounttypes”section.5.3.TheCompanyhastherighttomodifytheleveragesizeoftheClient'stradingaccountanytime according to the description stated in the Client's Profile athttps://my.forexbankla.comandontheCompany’sofficialwebsiteinthe“Accounttypes”section.Atthesametime,theCompanyundertakesthattheClientwillbepostfactuminformedofanymodificationbyemail.


6.Tradingoperations6.1. When conducting trading operations, “Market Execution” quoting mechanism isapplied,regardlessoftheClient'saccounttype.6.2.Client'srequestsareprocessedthroughthefollowingconsecutivestages:a)TheClientmakesarequestwhichischeckedforcorrectnessintheClient’sterminal;b)TheClient’sterminalsendstherequesttotheserver;c)TheClient'srequestcomesintheserverwhereit'scheckedforcorrectness.Themessage“requestwasacceptedbyserver”appearsinthelogofthetradingterminal;d)TheServersendstheresultoftheprocessingtotheClient’sterminal;e)OncestableconnectionbetweentheClient’sterminalandtheServerset,theClient’sterminalreceivestheresultoftheprocessingoftheClient'srequest.6.3.TheClientmaycanceltherequestsentearlierbeforeit’sacceptedforprocessing.6.4.Thetimeofprocessingdependsonthequalityofterminal-serverconnectionandthemarketstate.Undernormalmarketconditions, theprocessingofaclient'sorderusuallytakes3-5seconds,inothermarketconditionsthetimeofprocessingcanamountto5-15seconds,asarule.6.5.TheServercanrefusetheClient'srequestinthefollowingcases:a)Attheopeningofthemarket,withthemessage“Noprice”,iftheClientmakesarequestbeforethefirstquoteisprovidedintothetradingplatform;b) If therearenoavailablefundsforopeningaposition(withthemessage“Notenoughmoney”);c)Undermarketconditionsdifferentfromnormalones.6.6.TheClientconfirmsthattheCompanycanmodify,add,andrenametheCompany’sServicesprovidedinaccordancewiththisAgreement,withasubsequentnotification.6.7.TheCompanyhastherighttomodifythemarginamountwithoutpreliminarynoticeincaseofforcemajeurecircumstancesorincreasedvolatilityconditions(forexample,duringNewYear'sweek).6.8.TheCompanyonlyensuresexecutionofClient’stradingoperationswithoutprovidingassetsmanagementorrecommendations.6.9.TheClient’sProfileshallbethemainmeansofsendingrequests.TheClienthasthe


righttogiveanordertoForexBankLAoperatorbyphoneonlyincaseofimpossibilityofsending an order through the Client’s Profile for some technical reasons. A phoneconversationwiththepersonnelofTradingOperationsDepartmentshallbecarriedoutinEnglish.6.9.2.TheCompanymayenlargethenumberofmeansforsendingClients'requestswithanotificationmessagetotheclients.6.10.A“Buy”operationisopenedatthe“Ask”price.A“Sell”operationisopenedatthe“Bid”price.A“Buy”operationisclosedatthe“Bid”price.A“Sell”operationisclosedatthe“Ask”price.6.10.1. In case the total volume of the Client’s open transactions exceeds the limitsindicated in base currency in the trading conditions specified on the Company’s officialwebsite,theCompanyreservestherighttochangethetradingconditionswithnotificationtotheClient:a)changetransactionminimumvolume;b)changeleveragesize;c)changemarginrequirementsforoneorseveraltradingtools.6.10.2.TheCompanyhastherighttocancelorrevisetheresultsoftheClient'stransactioninthefollowingcases:a)Thetransactionisopened/closedataNon-marketquote;b)IncaseofServermalfunctions.6.10.3. The Company has the right to increase spreads under certain conditions (forinstance,incaseofhighvolatilityduringNewYear'sweeks).PleaseacquaintyourselfwiththetableofcurrentspreadsontheCompany’sofficialwebsiteinthe“Tradingconditions”section.6.11. When a position is carried over to the next working day (including the “Friday-Monday”transfer),swapsarecalculatedoneachopenposition.Tripleswapsarecalculatedin thenight fromWednesday to Thursday. The valueof current swaps specifiedon theCompany’soficialwebsiteinthe“Tradingconditions”section6.11.1.TheCompanyhastherighttocancelthe“Islamic”statusofanaccountandcalculateswapsforhavingcarriedovertransactionsiftheClienthasbrokenthetermsofthisserviceprovision.Islamicaccountsareprovidedsolelywiththepurposeofavoidingabreachofreligiouscanons.TheCompanyhastherighttostartchargingafeeforservicingIslamicAccountsatanytime.Incasetheamountofmissedswapsexceeds$100,000(orequivalentinanothercurrency),theClientundertakestocompensatetheCompanyforexpensesassociatedwithcarryingtheClient’spositionsinhis/heraccountsovertothenexttradingday.


6.12.ApositionisopenedbymeansofsendingarequestfromtheClient’sterminalortheClientProfiletotheServer.Optionalparameterscanbechangedforopenorders.6.12.1.Mandatoryandsufficientparametersofaclientrequest:a)Nameofthetool;b)Tradingoperationvolume.6.12.2.Optionalparametersofaclientrequest:a)Levelofthestop-lossorder.Thevalue0.0000meansthattheorderisn'tplaced(orisremovedifplacedbefore);b)Levelofthetake-profitorder.Thevalue0.0000meansthatthetake-profitorderisn'tplaced(orisremovedifplacedbefore).6.12.3.Inordertosenda“Buy”requestwithnoadviserapplied,pleaseclickonthe“Buy”buttoninthewindowofthetradingorder.6.12.4.Inordertosenda“Sell”requestwithnoadvisorapplied,pleaseclickonthe“Sell”buttoninthewindowofthetradingorder.6.13.ThecurrentlistofquotedandtradedtoolsspecifiedontheCompany’sofficialwebsiteinthetradingconditions.6.14. If there is enough freemargin on the account to open a position, the position isopened,thecorrespondingcommentaryisenteredintothelogfileoftheServer.(Whenhedging positions,margin corresponds to the value indicated in the Company's tradingconditionsattheofficialsite).6.15.Ifthereisn'tenoughfreemargintoopenaposition,thepositionisn'topened,thecommentary “Not enough money” appears in the order window, the correspondingcommentary“notenoughmoney”isenteredintothelogfileoftheServer.6.16.TheClient'sordertoopenapositionisconsideredprocessedandthepositionisopenedafter thecorrespondingcommentaryappears in the log fileof theServer.EveryopenedpositionisgivenaTicketintheTradingplatform.6.17.ApositionisclosedbymeansofsendingarequestfromtheClient’sterminalortheClient’sProfiletotheServer.Mandatoryandsufficientparametersofaclientrequest:a)TheTicketofthepositiontobeclosed;b)TradingoperationVolume(notmorethanthevolumeofthetransactiontobeclosed).6.18.Iftherearetwoormorelockedpositionsinthelistofopenpositionsonthetradingaccount, the“Closeby”optionwillappear inthe“Type”drop-down listwhenformingarequeststop-lossoranordertocloseanyofthem.Afterthisoptionischosen,oneorseveral


openpositionsofoppositedirectionwillbeshown.Whenchoosingapositionfromthelist,the«Close#…by#…»buttonwillbeenabled,byclickingonwhichtheClientcloseslockedpositionsofthesamevolumeorpartiallycloses2lockedpositionsofdifferentvolume.Atthesametime,thelesserpositionandsymmetricpartofthemajoroneareclosedwiththeopeningofanewpositioninthedirectionofthemajoronewhichisgivenanewTicket.6.19.Iftherearetwoormorelockedpositionsinthelistofopenpositionsonthetradingaccount, the«MultipleCloseBy»optionwill appear in the “Type”drop-down listwhenformingarequestoranordertocloseanyofthem.Afterthisoptionischosen,thelistofallpositions on the given instrument appears and the «Multiple Close By For» button isenabled, by clicking on which the Client closes the whole of locked positions on theinstrument.Atthesametime,anewpositionwhichisgivenanewTicketisopenedinthedirectionofthemajortotalvolume.6.20.TheClient'sordertocloseapositionisconsideredprocessedandtheposition-closedafterthecorrespondingcommentaryappearsintheServer’slogfile.AftertheorderissenttotheServer,itcangothroughthefollowingphases:a)Started—theorderhasbeencheckedforcorrectnessbutnotyetacceptedbyabroker;b)Placed—theserveracceptedtheorder;c)Partiallyfilled–theorderispartiallyfilledastoitsvolumed)Filled–theorderisfullyfillede)Cancelled—theorderhasbeencancelledbyaclient;f)Rejected—theorderhasbeendeclinedbytheserver;g)Expired—theorderisremoveduponitsexpiration.6.21.ApendingorderisanordergiventoabrokertobuyortosellafinancialinstrumentinthefutureaccordingtoconditionsstipulatedbyaClient.6.22.«Metatrader4»tradingplatformprovidesthefollowingtypesofpendingorders:a)«BuyLimit»—atradingordertobuyatthe“Ask”pricethatisequaltoorbetterthantheonestipulatedintheorder.Atthesametime,currentpricelevelishigherthanthevaluefixedintheorder.b)«BuyStop»—atradingordertobuyatthe“Ask”pricethatisequaltoorbetterthantheonestipulatedintheorder.Atthesametime,currentpricelevelislowerthanthevaluefixedintheorder.c)«SellLimit»—atradingordertosellatthe“Bid”pricethatisequaltoorbetterthantheonestipulatedintheorder.Atthesametime,currentpricelevelislowerthanthevaluefixedintheorder.d)«SellStop»—atradingordertosellatthe“Bid”pricethatisequaltoorbetterthan


theonestipulatedintheorder.Atthesametime,currentpricelevelishigherthanthevaluefixedintheorder.6.23.«Metatrader-5»tradingplatformprovidessomemoretypesofpendingordersinadditiontothoseindicatedinp.6.22:a)«BuyStopLimit»—thistypeofordercombinesthefirsttwotypesrepresentingastopordertoplacea“buylimit”order.Assoonasthefuture“Ask”pricereachesthevalueindicatedinthisorder,aBuyLimitorderwillbeplacedatthelevelindicatedintheorder.Atthesametimecurrentpricelevelislowerthantheonethatmustbereachedforthependingordertobeplaced.b)«SellStopLimit»—thistypeoforderisastopordertoplacea“selllimit”order.Assoonasthefuture“Bid”pricereachesthevalueindicatedinthisorder,aSellLimitorderwillbeplacedatthelevelindicatedintheorder.Atthesametime,currentpricelevelishigherthantheonethatmustbereachedforthependingordertobeplaced,andthepriceofthependingorderishigherthantheplacementlevel.6.24.Thefollowingorderscanbeusedforclosingaposition:a)«Stop-loss»–thisorderisintendedforminimizinglossesincasethepriceofafinancialinstrumentstartsmovingataloss.Ifitreachesanunprofitablelevel,thepositionwillbeautomaticallyclosed.Suchordersarealwaysconnectedwithanopenpositionorapendingorder.Theycanbeplacedonlyalongwithmarketorpendingorders.b)«Take-profit»orderisintendedforgettingprofitswhenthepriceofafinancialinstrumentreachesthelevelforecasted.Ifexecuted,thisorderwillcloseapositioncompletely.It'salwaysconnectedwithanopenpositionorapendingorderandcanbeplacedonlyalongwithamarketorpendingorder.6.25.«StopLoss»and«TakeProfit»ordersarealwaysconnectedwithmarketorpendingorders.6.26.Whensendingarequesttoplaceapendingorder,theClientshallspecifythefollowingmandatoryparameters:a)Nameofthetool;b)Positionvolume;c)Typeoforder(BuyStop,BuyLimit,SellStop,SellLimit,BuyStopLimit,SellStopLimit);d)Priceoftheorder.6.27.Whensendingarequesttoplaceapendingorder,theClientmayspecifythefollowingoptionalparameters:a)Thestop-losslevelofthependingorder.Thevalue0.0000meansthatthestop-loss


orderisn'tplaced(orisremovedifplacedbefore);b)Thetake-profitlevelofthependingorder.Thevalue0.0000meansthatthetake-profitorderisn'tplaced(orisremovedifplacedbefore);c)Period(dateandtime)untilwhichthependingorderisvalid.6.28.Therequestwillbedeclinedifoneofthemandatoryparametersislackingorispresetincorrectlyand/oroneofoptionalparametersispresetincorrectly.6.29.TheClientmaymodifyanyoptionalparameterandtheopeningpriceforcurrentpendingorders.6.30.IftheStop&Limitvalueispresetforacurrencypair,alltypesofpendingordersmaybeplacedatthedistancethatisequaltoorhigherthanthisvalue.6.30.1.The“Ask”price isconsideredasacurrentmarketprice for“BuyLimit”and“BuyStop”pendingordersand“Takeprofit”/“Stoploss”“Sell”orderstoclose.6.30.2.The“Bid”priceisconsideredasacurrentmarketpricefor“SellLimit”and“SellStop”pendingordersand“Takeprofit”/“Stoploss”“Buy”orderstoclose.6.31.Pleaseacquaintyourselfwiththecurrent«Stop&Limit»valueforeachcurrencypairontheCompany’sofficialwebsiteinthetradingconditions.6.32.Anorderwillbeenqueuedforprocessinginthefollowingcases:a)«BuyLimit»and«SellStop»ordersareenqueuedforprocessingatthemomentwhenacurrentpriceinthequotesflowbecomesequaltoorlowerthantheleveloftheorder;b)«SellLimit»and«BuyStop»ordersareenqueuedforprocessingatthemomentwhenacurrentpriceinthequotesflowbecomesequaltoorhigherthantheleveloftheorder.6.33.Whenapendingorderisreceived,theServerautomaticallychecksiftheconditionsnecessaryforconductingatransactionaresatisfied. If there isenoughmoneytoopenaposition,thepositionwillbeopened.6.34.TheexecutionofanorderisattendedbythecorrespondingcommentaryintheServer’s log file. At the same time, the position opened by pending order's executionreserves the ticket of the pending order. In case there isn't enough money to open aposition, the order will be deleted. The removal is attended by the correspondingcommentaryintheServer’slogfile.


6.35.AnorderisconsideredexecutedafterthecorrespondingcommentaryhasappearedintheServer’slogfile.6.36.Incaseofconsiderablepricegaps,theexecutionoforderswillbedeterminedbythefollowingrules:a)Apendingorderwhosepriceand“TakeProfit”and/or“StopLoss”concurredwithapricegap,iscancelled.ThisoperationisrecordedintheServer’slogfile;b)A“TakeProfit”orderwhoselevelconcurredwithapricegapwillbeexecutedatthepricespecifiedintheorder;c)A“StopLoss”orderwhoselevelconcurredwithapricegapwillbeexecutedatthepricethatwillbethefirstafterthepricegap.ThisoperationisrecordedintheServer’slogfile;d)Pendingorders“BuyStop”and“SellStop”areexecutedatthepricethatwillbethefirstafterthepricegap.ThisoperationisrecordedintheServer’slogfile;e)Pendingorders“BuyLimit”and“SellLimit”areexecutedatthepricespecifiedintheseordersIntheeventofinsignificantpricegaps,ordersmaybeexecutedattheoriginallyspecifiedprices.6.37.Ifthere’snotenoughfreemargintoopenaposition,apendingorderwillbeautomaticallydeletedafterthereception.ThisoperationisrecordedintheServer’slogfile.6.38.AstoCFDs,theorders“BuyStop”,“SellStop”,“BuyLimit”,“SellLimit”arevalidwithin1 calendar day onwhich theywere set. They are cancelled upon the expiration of thiscalendarday.7.Compulsoryclosureofpositions7.1.TheCompanyhastherighttocloseClient'sopenpositionscompulsorilywithoutnoticeif the account current Margin Level is less than 100% of the margin necessary formaintainingopenpositions(MarginCall).7.2.TheCompanyisunconditionallyobligedtostartclosingunprofitabletransactionsoncondition that account Margin Level becomes lower than the margin necessary formaintainingopenpositions(StopOut).ThenecessarymarginlevelisindicatedontheCompany'ssiteinthesection“Typesoftradingaccounts”.7.3.AccountcurrentstateismonitoredbytheServerthatgeneratesanordertocloseapositioncompulsorily(Stopout)ifthecondition7.2issatisfied.StopOutisperformedatthemarketcurrentpriceintheorderthatClients'requestsarrived.Acompulsoryclosureofapositionisattendedbythecorrespondingcommentary“stopout”intheServer’slogfile.


7.4.Inthepresenceofseveralopenpositions,theonewiththebiggestfloatinglosseswillbeclosedthefirst.7.5.InexceptionalcasestheCompanyhastherighttocompensatefornegativebalanceintheClient’saccountusingfundsdepositedintheClient’sanotheraccount.7.6.TheClientisobligedtopersonallymonitorthestateofhis/hertradingaccountandtopitupathis/herdiscretionifnecessaryinordertoavoidtheclosureoftransactionsfollowingMarginCallandStopOut.TheCompanyisnotliablefortheclosureoftransactionsfollowingStopOutiftheClientisnotabletomakeadepositinhis/heraccounttimelyforanyreason.Ifautomaticdepositofanaccountisfoundimpossible,theClientcancontacttheCompany’semployee.8.Procedureforhandlingclaimsanddisputes8.1.PartiesofthisAgreementtrytosettlealldisputesthroughnegotiationsandbywayofholdingcorrespondenceinaccordancewithproceduresforclaims.8.2.TheCompanyacceptsclaimsarisingunderthisAgreementonlyinwritingandnotlaterthanthreecalendardaysfromthedate(day)ofadispute.8.3.TheClientmustwriteane-mailandsendittotheTradingoperationsdepartmentatcontacto@forexbankla.com without disclosing this information before the examinationends.Claimssubmittedotherwisewillnotbeconsidered.8.4.PeriodoftimeforexaminingaclaimfromtheClientisnotmorethan14workingdays.8.5.Ifaclaimisjustified,thedisputeissettledonlybymeansofcompensatorypaymenttransferredtotheClient'stradingaccount.IftheClienthadintentiontocommitanactionbutdidnot commit it for some reason, theCompany shallnot reimburse for the lossesresultedfromsuchomissionandshallnotcompensateformoraldamages.8.6.IncaseofapositivedecisiononadisputetheCompanymakescompensationpaymenttothetradingaccountoftheClientwithinoneworkingdayfromthemomentofapositivedecisiononadispute.8.7.TheClient'sclaimshallcontainthefollowinginformation:


a)Fullname;b)Client’se-mailortradingaccountnumber;c)Disputedateandtime;d)Ticketofadisputabletrade(ifnecessary);e)Substanceoftheclaimwithoutexcessiveemotions.Claimssubmittedotherwisewillnotbeconsidered.8.8.TheCompanyisentitledtorefuseexaminationofaclaimif:a)Aclaimdoesn’tmeettheitems8.2,8.3,8.7;b)Aclaimcontainsobscenewordsand/orinsultsconcerningtheCompanyoritsemployees;c)AclaimcontainsthreatsagainsttheCompanyoritsemployees;d)TheClientusesthethreattoblackentheCompany’sreputationinsocialnetworksandotherinternetresourcesasanargument.8.9.IncaseofdisputesaboutthestateoftheClient’saccount,allpartiesexaminetheprotocolsoftheClient’soperationsbyuseoftheCompany’sServer’slogfiles.8.10.TheCompanyhastherighttocancelatransactionresultifthetransactionwasexecuted by using funds obtained as a result of violation of the terms specified in thisAgreement.8.11.Incaseofaconflictsituation,whichisnotdescribedinthisAgreement,theCompanymakesfinaldecisiononthebasisofgenerallyacceptedmarketpracticeandideasofafairsettlementofadispute.9.Clientidentification9.1. The Company has the right to require the Client to confirm his/her registrationinformationspecifiedwhenopeningatradingaccount.Todoso,theCompanymayasktheClientatitsowndiscretionandatanytimetoprovideanotarizedelectroniccopyofhis/heridentificationdocument,bank statement or public utilities bill as a proof of residence. In particular cases, theCompanymayasktheClienttoprovideaphotoofhim/herholdinghis/herIDnearhis/herface. The detailed client identification requirements are set out in the “AML policies”sectionontheCompany’sofficialsite.9.1.1.Inexceptionalcases,theCompanyhasarighttodemandthattheClientprovideavideorecordoralivevideowherehe/sheisreadingaloudhis/herpersonalinformationinEnglish,holdingtheidentitydocumentopenedatthephotopageclosetohis/herface.


9.2.IftheClienthasn’treceivedarequestforscannedcopiesofdocuments,theaccountverificationprocedureisnotobligatory,buttheClientcanuploadvoluntarilyacopyofthePassportoranotherdocumentconfirminghis/heridentitytotheClient’sProfiletoensureaccountverification.Thereshouldbe taken intoaccountsomewhich require fullprofileverificationaccordingtothespecificityoftheTradingPlatform’soperation.9.3.IfanyClient’sregistrationdata(fullname,addressorphonenumber)havebeenchanged, the Client is obliged to notify immediately the Company’s client supportdepartment of these changes by sending a request to [email protected] tomakechangeswithoutassistanceintheClient’sProfile.9.4.TochangethephonenumberrelatedtotheClient’sProfile,theClientshallprovideadocumentconfirmingownershipofanewphonenumber(agreementwithamobilephoneserviceprovider)andaphotooftheIDheldbesidetheClient’sface.TheClient’spersonaldatashallbethesameinbothdocuments.9.5.TheClientisresponsibleforauthenticityofthedocuments(theircopies)andrecognizesthe right of the Company to contact the appropriate authorities of the country of thedocumentsissuertovalidatetheirauthenticity.10.AuthoritiesandresponsibilitiesoftheCompanyandtheClient10.1.TheClienthastherightto:a)conducttradingoperationsontheTradingaccount,inaccordancewiththetermsofthisAgreement;b)receiveallinformationrelatedtotheTradingaccountthroughtheinterfaceoftheClient'sProfileorusingcontactdetailsindicatedintheClient'sProfile;c)makedepositsintohis/herTradingaccountandwithdrawfundsaccordingtothetermsofthisAgreement.10.2. The Client acknowledges that any market recommendations and informationsubmittedtotheClientbytheCompanyorbyanypersonintheCompanydonotrepresentaproposaltoconductatransaction.10.3.TheClientisinformedandagreesthattheCompanyisnotliableforactsoromissionsoftheClienttoconductoperationsonhis/herownTradingaccounts.10.4.TheClientconfirmsthatheorsheissolelyresponsibleforthestateofhis/herTradingaccountsandPersonalProfile.10.5.TheClientundertakestoguaranteeprotectiontotheCompanyagainstvarious


liabilities,costs,claims,damagesthatmayarisedirectlyorindirectlyduetoClient'sfailuretocomplywithobligationsunderthisAgreement.10.6.TheClientacknowledgesthathe/sheisobligedtoprovidecopiesofdocumentsasrequestedbytheCompanywhichconfirmdatathathe/sheprovidedduringregistration,andhe/shemustensurethatallinformationprovidedbytheClienttotheCompanyistrue,correctandcomplete;theClientmustinformtheCompanyofallchangesimmediately.10.7.TheClient:a)agreestobearresponsibilityforallactionsexecutedwithinhis/herClient’sProfile,includingtransactionsexecutedinthefinancialmarkets;b)guaranteessafetyofhis/heraccountdataandpasswords.IncaseoflossortransferofthesedatatothirdpartiesfullresponsibilityrestswiththeClient.10.8.TheClientagreesthattheCompanyoranythirdparty,involvedinprovidingservicestotheClient,isnotresponsibleforanyphonelineorInternetfailures,oranyincidentsandcircumstances,whichdonotdependontheCompany.10.9.TheClientacknowledgesthat,accordingtoAMLPolicy,theCompanyhastherighttorequirethedetailsoftheClient’sbankaccountopenedinthenameoftheClient,imposingrestrictionsonfundswithdrawalsonlybybanktransferbyuseofthespecifiedbankaccountdetails.IftheClientrefusestoprovidethesedetails,theCompanyreservestherighttoblockalltheaccountoperationsuntilthespecifiedinformationisprovided.10.10.TheClientagreesthatiftheCompanyhasareasontobelievethattheClient’stradingaccountisusedformoneylaunderingortheaccountholderconcealsinformationorprovideswittingly falseregistrationdata,aswellas if there isareasontobelievethattrading operations on the Client’s trading account have been executed by violating thisAgreement, the Company reserves the right to suspend all operationswithin the ClientProfile and on the Client’s trading accounts to carry out necessary checks (check ofregistrationdata,clientidentification,verificationofthehistoryofaccountdeposits,etc.)untilallthecircumstancesareclarified.10.11.TheCompany:a)isnotaproviderofcommunicationservicesandisnotliablefornon-fulfillmentofobligationsduetofailureincommunicationchannels;b)doesnotcompensateClientsformoraldamages.10.12.TheCompany,atitsowndiscretion,canprovideinformation,guidanceandadviceto


theClient,howeverinthiscasetheCompanywillnotbeliablefortheconsequencesandbenefitsarisingfromrecommendationsandadvicetotheClient.TheClientacknowledgesthatintheabsenceoffraud,willfuldefaultorflagrantnegligentperformancetheCompanyshallnotbe liable for any losses, costs, expenseswhich the Clientmay suffer due to inaccurateinformationprovidedtotheClient,includingbutnotlimitedtoinformationabouttradingoperationsoftheClient.10.13.TheCompanyisnotliabletotheClientforanydamages,losses,lostprofit,lostopportunities, costs (arising from possiblemovements in themarket), unless otherwisespecifiedinthisAgreement.10.14.TheCompanyreservestherighttochangeormodifythisAgreement,notifyingtheClientbyemail7calendardaysbeforetheamendmentscomeintoforce.10.15.TheCompanyassuresthatthedataprovidedbytheClientintheregistrationformarestrictlyconfidential.11.ClientRiskDisclosure11.1.Riskoflosseswhentradingatthefinancialmarketscanbequitesignificant.TheClientmustcarefullyexaminehis/herfinancialcapacitywithrespecttosuchtradingoperations.11.2.TheClientcanlosehis/herinitialfundsinfull,aswellasanyadditionalfundsdepositedtoenhanceorcontrolpositionsinthemarketinaccordancewiththisAgreement.11.3.Restrictiveorders,suchas“stop-loss”arenotalwayseffectivetolimitlossesoftheClientwithin pre-planned amount, sincemarket conditions canmake execution of suchordersimpossible.11.4.TheClientmustunderstandthattheCompanyisnotliableforlosses,directlyorindirectly caused by restrictions imposed by the government, currency or marketregulations,suspensionoftrading,warorotherconditions,normallycalled“forcemajeure”andwhicharebeyondthecontroloftheCompany.11.5.TheCompanyhasamplegroundstodetermineboundariesofforce-majeurecircumstances.TheCompanytakesappropriatestepstoinformClientsofforce-majeure.11.6. Algorithm of trading transactions is determined directly by the developer of thesoftwareusedbytheCompany.


11.7.ThisbriefnotificationofClient'sriskdoesnotcoverallriskswhichcanoccurduringconversionarbitrageoperationsatForexmarketandotherfinancialmarkets.12.TerminationoftheAgreement12.1.ThisAgreementwillbeterminatedincaseof:a)fullwithdrawalofthefundsbytheClientfromtheTradingPlatform,whichputsanendtotherelationsregulatedbythisAgreement;b)violationbytheClientofthetermsdescribedinthisAgreement.12.2.TheCompanyhastherighttoterminatethisAgreementunilaterallyinformingtheClient about the termination. The termination of the Agreement doesn’t cancel theCompany’sandtheClient’sengagementswhichhavealreadyariseninaccordancewiththisAgreement,includinginrespectofopenpositionsorfundswithdrawal/depositoperationsintheClient’stradingaccount.12.3.IftheCompanyterminatestheactivityregulatedbythisAgreement:a)TheCompanynotifiestheClientofitonemonthbeforesuchtermination;b)TheCompanypaysouttheClient’sfundsavailableinthetradingaccountatthemomentoftermination.12.4.IncaseoftheClient’sdeath:a)TherighttowithdrawfundsfromtheClient’stradingaccountistransferredtoheirsindueorderortoheirsbywill;b)TherighttousetheClient’stradingaccountandtherighttoexecutetransactionsonthefinancialmarketsarenotinherited.12.5.TheClientagreesthattheCompanyreservestherighttodenyorrestricttheClient’saccesstotheCompanyServicesnotifyinghim/herbeforehand.Inthiscase,thisAgreementwillbecanceledfromthemomentofserviceprovisiontermination.

Documents

Forex Bank LA€¦ · international Forex Market and derivatives markets to any uridical entity or individual, hereinafter referred to as the Client in the order and on the terms