KEY INFORMATION DOCUMENT- CFDs ON FX PAIRS€¦ · A CFD is a popular form of derivative trading. The price of the CFD is derived from the price of the underlying FX pair. CFD trading

Griva Digeni & Kolonakiou 125, Grosvenor Tower, Ground Floor, 3107 Limassol, Cyprus

Phone: +80040015002 | Fax: +357 25 310 361 | Email: [email protected]

ITRADER.COM V3

KEY INFORMATION DOCUMENT- CFDs ON FX PAIRS Purpose

This document provides you with key information about this investment product. It is not marketing material. The information is

required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare

it with other products.

Product

Name of Product: Contract for Differences (CFDs) on Foreign Exchange (FX pairs).

Provider: CFD on FX pairs is offered by ITRADER, a trading name operated by Hoch Capital Ltd (the “Company”), a Cypriot

Investment Firm (the “CIF”), authorised and regulated by the Cyprus Securities and Exchange Commission (the “CySEC”) under

licence number 198/13. For more information, you can visit the Company’s websites at www.itrader.com, www.hochcapital.com

or contact our support team via email at [email protected] or via phone at +80040015002.

This Key Information Document (“KID”) version was reviewed and updated on the 21st of June 2019 and you have the right to

request previous versions by contacting us via email at [email protected].

What is this product?

A CFD is a popular form of derivative trading. The price of the CFD is derived from the price of the underlying FX pair. CFD trading

allows a trader to speculate on rising or falling prices in an underlying FX pair. Even though you will never own the underlying

asset, your profit or loss depends on movements in the price of the underlying asset (FX pair) and the size of your position. The

Company offers trading opportunities on a wide range of FX pairs. All FX CFDs trades involve two currencies (e.g. EUR/USD). The

first currency of the pair (e.g. EUR) is called the base currency, while the second currency (e.g. USD) is called the Quote currency.

The price quoted on the platform, represents the price that one Euro is worth in US dollars. For any CFD, two prices are quoted:

(a) the higher price (‘Ask’), at which the investor can buy (‘go long’) and (b) the lower price (‘Bid’), at which the investor can sell

(‘go short’). The difference between the two is the spread. The leverage embedded within CFDs has the potential to magnify your

profits or losses. CFD transactions with the Company are not undertaken on a recognized exchange/regulated market, rather they

are undertaken Over the Counter (“OTC”).

Objectives:

The objective of a CFD on FX pairs is to speculate on the performance of an underlying currency pair without actually owning these

currencies. You will achieve profit if your speculation on the performance (positive or negative performance) was correct,

otherwise you will suffer losses with the difference between the opening price and closing price of the underlying asset. Please

note that when the equity (the sum of funds in the CFD trading account and the unrealised net profits of all open CFD position(s)

connected to that account) falls to less than half of the total initial margin used for all those open CFD position(s), your trading

position(s) will be closed in order to ensure that your trading equity will not fall below 50% of your margin used for all your open

trades.

Intended Retail Investor:

This product is for Retail clients with knowledge and/or experience of the characteristics of CFDs on FX pairs trading including the

main market factors that determine currencies fluctuations, the concept, effects and risks of leveraged trading, ability to

understand the risks involved including the risk of loss of their invested amounts. CFDs on FX pairs are compatible with the needs

of clients who seek short term capital gain and/or with a short-term investment horizon by investing in highly liquid markets which

can provide the benefit of quick pay-out. Clients should have a high-risk tolerance and be willing to accept rapid price fluctuations

and the specific risk of leverage in exchange for the opportunity of higher returns.

Term:

CFDs on FX pairs have no fixed or suggested maturity date. It’s up to each individual trader to decide the appropriate time to open

and close his positions. However, each individual’s position will only be kept open to the extent that he/she has available margin.

Failure to deposit additional funds in order to meet margin requirement as a result of negative price movement, may result in the

CFD position being automatically closed.

What are the risks and what could I get in return?

Risk Indicator

RISK WARNING: You are about to purchase a product that is not simple and may be difficult to understand.

Higher risk Lower risk

http://www.itrader.com/

http://www.hochcapital.com/

mailto:[email protected]




ITRADER.COM V3

The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that

the product will lose value because of movements in the markets or because the Company is not able to pay you. The Company

has classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future performance at

a very high level. Trading risks are magnified by leverage. However, due to negative balance protection, your losses cannot exceed

the amount invested. Trade only after you have acknowledged and accepted the risks. You should carefully consider whether

trading in leveraged products is appropriate for you.

Be aware of currency risk: It is possible to buy or sell CFDs on FX pairs in a currency which is different to the account currency

therefore, you will receive payments in a different currency, so the final return you will get depend on the exchange rate between

the two currencies. This risk is not considered in the indicator shown above.

Leverage trading: Leverage can magnify the profits as well as the losses. Losses arising as a result of price movements and failure

to deposit additional funds may result in the CFD being auto-closed.

Market risk: market fluctuations can impact the appreciation or depreciation of the asset value and can impact your trading result.

CFD trading requires you to maintain a certain level of funds in your account in order to open position(s) and to keep the position(s)

open. This is the initial margin, maintenance margin respectively. You will be able to open a position by depositing only a small

percentage of the notional value of the position, creating a leveraged position. Leverage can significantly magnify your gains and

losses. If the funds in your account decrease to the point that they will soon become insufficient to keep your position(s) open –

meaning that your equity is getting close to the total maintenance margin - a margin alert will be issued, asking you to consider

depositing additional funds. If you fail to deposit additional funds and the market continues to move against you, the Company

may close your position(s) (immediately and without notice) and you will realise any losses. However, due to negative balance

protection, your losses cannot exceed the amount invested.

Technical Risks: Since trading of the product depends on technology i.e. PC, mobile phone, internet, failure and delays etc., you

are exposed to electronic disruptions, leading to delays in the opening and closing of a transaction, for which the Company shall

not be held liable. This product does not include any protection from future market performance, so you could lose some or all of

your trading balance. For more information on the Risks associated with trading the product, please see our Risk Disclosure

document.

Liquidity Risk: This is the financial risk that for a certain period of time an underlying asset cannot be traded quickly enough in the

market without impacting the market price. You acknowledge that some products offered by the Company may suffer from

liquidity strains due to adverse market conditions, and as such, the volatility may be reflected in a larger spread between the ASK

and BID prices, resulting in a change in the price of the product.

Performance Scenarios:

FX pairs CFD (EUR/USD), held intraday

Open Price (FX pair): OP $ 1.1025

Trade Size (CFD per lot) TS € 100,000

Margin: M 3.0%

Margin Required (USD) MR = OP x TS x M $ 3,308

Notional Value of the Trade (USD) NVT = MR/M $ 110,250

BUY (LONG) Performance Scenario

Closing Price (incl. spread)

Price Change

Profit/Loss SELL (SHORT) Performance Scenario


Price Change

Profit/Loss

Favourable $ 1.12455 2% $ 2,205 Favourable $ 1.08045 -2% $ -2,205

Moderate $ 1.1080 0.5% $ 551 Moderate $ 1.09699 -0.5% $ -551

Unfavourable $ 1.0860 -1.5% $ -1,654 Unfavourable $ 1.11904 1.5% $ 1,654

Stress $ 1.0694 -3% $ -3,308 Stress $ 1.13558 3% $ 3,308

The scenarios above are taking into consideration the client’s decision to buy/sell the underlying asset as per the above figures

and closing the trade on the same day. The potential profit and loss are based on the percentage change of the underlying asset

as described in the tables above. These scenarios illustrate how your investment could perform. You can compare them with

other products. The scenarios presented are an estimate of future performance based on evidence form the past on how the

value of this investment varies and are not an exact indicator. What you get will vary depending on how the market performs

and how long you keep the investment/product. The stress scenario shows what you might get back in extreme market

circumstances, and it does not take into account the situation where we are not able to pay you. The figures shown include all

https://www.itrader.com/en/page/risk-disclosure



ITRADER.COM V3

costs of the product itself but may not include all the costs that you pay to your advisor or distributor. The figures do not take

into account your personal tax situation, which may also affect how much you get back.

What will happen if the Company is unable to pay out?

The Company is a member of the Investor Compensation Fund (the “ICF”) which covers non-professional clients as defined in the Investor Compensation Fund Policy in circumstances when the Company is either unable to return to its covered clients funds owed to them and/or unable to return financial instruments to the covered clients which the Company holds or controls in its accounts on behalf of the clients. The maximum amount of compensation that a covered client can receive by the Fund is €20,000 (Euro Twenty Thousand) or 90% of the covered client’s claim, whichever is lower.

What are the costs?

Trading a CFD on an underlying FX pair incurs the following costs (the table shows the different types of cost categories and their

meaning):

How long should I hold it, and can I take money out early?

CFDs on FX pairs have no recommended holding period hence, they are intended mostly for short term trading. Provided that the Company is open for trading, you can enter and exit positions at any time, as per the market’s trading hours. The Company shall proceed with the settlement of all trades (allocation of profits/losses) upon the execution and closure of the trade.

How can I complain?

If after consulting with a member of the Company’s support team, you are unable to obtain a satisfactory explanation to your inquiry, we welcome you to escalate your complaint by contacting our management team, by email, at [email protected]. You can also submit a formal complaint to the Company’s compliance department. In order to submit a formal complaint, you should include details and any supporting documentation on the matter, using the online form. Within five (5) business days from the day an official complaint has been received through the Company’s online form, we will send a written confirmation of the receipt of the complaint, a unique reference number that should be used when contacting the Company and the estimated time for receiving a final decision. For more information please refer to our complaint procedure.

If after filing a complaint with us, you are dissatisfied with our response to your complaint, you are entitled to refer the matter to

the Financial Ombudsman Service of the Republic of Cyprus ("FOSRC").

Other Relevant information

In case there is a time lag between the time you place your order and the moment it is executed; your order may not be executed

at the price you expected. Ensure your internet signal strength is sufficient before trading.

The Documentation section of the Company’s website contains valuable information regarding your account, which you should

read, understand and acknowledge. You should ensure that you are familiar with the Terms and Conditions and all the policies

that apply to your account.

For any information not found in this KID or the Company’s website www.itrader.com please contact us at [email protected].

One-off entry or

exit costs Spread

The difference between the buy price and the sell price is the spread. This cost is realised each time you open and close a trade. For example, if the FX currency pair (EUR/USD) is trading at $ 1.1025, our offer price (the price in which you can buy), might be $ 1.1026 and our bid price (the price at which you can sell), might be $ 1.1024.

Ongoing costs Overnight

financing fees

An overnight financing fee is either added to or subtracted from your account whenever a position is left open overnight. The overnight financing fees are found in the instrument's details on the trading platform and it is charged per lot. Example 1 lot of the specific CFD’s on FX currency pair is defined as 100,000. The trade size is 3 lots. Opening Price is $1.1026. If the overnight financing fee is $20 per lot and the client holds a position from Monday to Wednesday, the client will be charged $120 overnight for financing fee i.e. 3(lots) x $20(financing fee) x 2(overnights) = $120 will be charged as financing fee.

https://www.itrader.com/en/page/investor_compensation


https://www.itrader.com/en/contactus/publicinquiries

https://www.itrader.com/en/complaint

http://www.financialombudsman.gov.cy/forc/forc.nsf/page16_en/page16_en?OpenDocument

https://www.itrader.com/en/terms





ITRADER.COM V3

KEY INFORMATION DOCUMENT- CFDs ON SPOT IN COMMODITIES Purpose




Product

Name of Product: Contract for Differences (CFDs) on Spot in Commodities.

Provider: CFDs on Spot in Commodities are offered by ITRADER, a trading name operated by Hoch Capital Ltd (the “Company”), a

Cypriot Investment Firm (the “CIF”), authorised and regulated by the Cyprus Securities and Exchange Commission (the “CySEC”)

under the licence number 198/13. For more information, you can visit the Company’s websites at www.itrader.com,

www.hochcapital.com or contact our support team via email at [email protected] or via phone at +80040015002.




CFDs on Spot in Commodities are leveraged financial instruments settled in cash and not undertaken on a recognised

exchange/regulated market, rather they are traded Over the Counter ("OTC"). The client speculates on the price movement on

rising or falling prices on the underlying commodity without actually investing in or owning these commodities, by buying and

selling the CFD contracts. The price of the CFD on Spot in Commodities is derived from the price of the underlying asset which is

the current spot price. For any CFD, two prices are quoted: (a) the higher price (‘Ask’), at which the investor can buy (‘go long’)

and (b) the lower price (‘Bid’), at which the investor can sell (‘go short’). The difference between the two is called the spread.

Objectives:

The objective of a CFD on Spot in Commodities is to speculate on the performance of a commodity without actually investing in or

owning the real commodity. You will achieve profit if your speculation on the performance (positive or negative performance) was

correct, otherwise you will suffer losses with the difference between the opening price and closing price of the underlying asset.

Please note that when the equity (the sum of funds in the CFD trading account and the unrealised net profits of all open CFD

position(s) connected to that account) falls to less than half of the total initial margin used for all those open CFD position(s), your

trading position(s) will be closed in order to ensure that your trading equity will not fall below 50% of your margin used for all your

open trades.


This product is for Retail clients with knowledge and/or experience of the characteristics of CFDs on Spot in Commodities trading,

including the main market factors that determine commodities fluctuations, the concept, effects and risks of leveraged trading,

ability to understand the risks involved including the risk of loss of their invested amounts. CFDs on Spot in Commodities are

compatible with the needs of clients who seek short term capital gain and/or with a short-term investment horizon by investing

in highly liquid markets which can provide the benefit of quick pay-out. Clients should have a high-risk tolerance and be willing to

accept rapid price fluctuations and the specific risk of leverage in exchange for the opportunity of higher returns.

Term:

CFDs on Spot in Commodities do not have a pre-defined maturity date and they are therefore open-ended. It’s up to each individual

trader to decide on the appropriate time to open and close his positions. However, each individual’s position will only be kept

open to the extent that he/she has available margin. Failure to deposit additional funds in order to meet margin requirement as a

result of negative price movement, may result in the CFD position being automatically closed.


Risk Indicator

The summary Risk Indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that










ITRADER.COM V3

has classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future performance of

the product at a very high level. Trading risks are magnified by leverage. However, due to negative balance protection, your losses

cannot exceed the amount invested. Trade only after you have acknowledged and accepted the risks. You should carefully consider

whether trading in leveraged products is appropriate for you.

Be aware of currency risk: It is possible to buy or sell CFDs on a commodity in a currency which is different to the base currency










meaning that your equity is getting close to the total maintenance margin - a margin call or alert will be issued, asking you to

consider depositing additional funds. If you fail to deposit additional funds and the market continues to move against you, the

Company may close your position(s) (immediately and without notice) and you will realise any losses. However, due to negative

balance protection, your losses cannot exceed the amount invested.

Technical Risks. Since trading of the product depends on technology i.e. PC, mobile phone, internet failure and delays etc., you



your trading balance. For more information on the risks associated with trading the product, please see our Risk Disclosure

document.







Closing Price (inc. spread)

Price Change

Profit/Loss Sell (Short) Performance Scenario


Price Change

Profit/Loss

Favourable 50.5$ 1% (50.5-50) x 1000 = $500 profit

Favourable 48.5$ -3% (50-48.5) x 1000 = $1,500 profit

Moderate 50.25$ +0,5% (50.25-50) x 1000 = $250 profit

Moderate 49.75$ 0,5% (50-49.75) x 1000 = $250 profit

Unfavourable 49.5$ -1% (49.5-50) x 1000 = $-500 loss

Unfavourable 50.5$ 1% (50-50.5) x 1000 = $-500 loss

Stress 47.5$ -5% (47.5-50) x 1000 = $-2,500 loss

Stress 52.5$ 5% (50-52.5) x 1000 = $-2500 loss



as described in the tables above. These scenarios illustrate how your investment could perform. You can compare them with other

products. The scenarios presented are an estimate of future performance based on evidence from the past on how the value of

this investment varies and they are not an exact indicator. What you get will vary depending on how the market performs and

how long you keep the investment/product. The stress scenario shows what you might get back in extreme market circumstances,

and it does not take into account the situation where we are not able to pay you. The figures shown include all costs of the product

(CFDs) on Spot in Commodities (held intraday)

Open Price (CFD): OP $50

Trade Size (per CFD): TS 1000

Margin: M 10%

Margin Required (USD): MR = OP x TS x M $5,000

Notional Value of the Trade (USD): NVT = MR/M $50,000




ITRADER.COM V3

itself but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal

tax situation, which may also affect how much you get back.



What are the costs?

Trading a CFD on an underlying spot commodity incurs the following costs (the table shows the different types of cost categories

and their meaning):


CFDs on Spot in Commodities have no recommended holding period hence, they are intended mostly for short term trading. Provided that the Company is open for trading you can enter and exit positions at any time, as per the market’s trading hours. The Company shall proceed with the settlement of all trades (allocation of profits/losses) upon the execution and closure of the trade.

How can I complain?







The Documentation section can be found at the bottom of the Company’s website and contains valuable information regarding

your account, which you should read, understand and acknowledge. You should ensure that you are familiar with the Terms and

Conditions and all the policies that apply to your account.


One-off entry or

exit costs Spread

The difference between the buy price and the sell price is the spread. This cost is realised each time you open and close a trade. For example, if the underlying asset is trading at $49.75, our offer price (the price in which you can buy), might be $50 and our bid price (the price at which you can sell), might be $49.5.


financing fees

An overnight financing fee is either added to or subtracted from your account whenever a position is left open overnight. The overnight financing fees are found in the instrument's details on the trading platform and it is charged per lot. Example 1 lot of the specific CFD’s underlying asset is defined as 10 contracts. The trade size is 3

lots. Opening Price is $50. If the overnight financing fee is $20 per lot and the client

holds a position from Monday to Wednesday, the client will be charged $120 overnight

for financing fee i.e. 3lot × $20 financing fee × 2 overnights = $120 will be charged as

financing fee.






https://www.itrader.com/







ITRADER.COM V3

KEY INFORMATION DOCUMENT – CFDs ON FUTURES IN INDICES Purpose




Product

Name of Product: Contracts for Differences (CFDs) on Futures in Indices.

Provider: CFDs on Futures in Indices are offered by ITRADER, a trading name operated by Hoch Capital Ltd (the “Company”), a

Cypriot Investment Firm (the “CIF”), authorised and regulated by the Cyprus Securities and Exchange Commission (hereinafter

referred to as the “CySEC”) under licence number 198/13. For more information, you can visit the Company’s websites at

www.itrader.com, www.hochcapital.com or contact our support team via email at [email protected] or via phone at

+80040015002.

This Key Information Document (“KID”) version was reviewed and updated on the 21st of June 2019 and you have the right to request

previous versions by contacting us via email at [email protected].


Futures means a future contract which gives the buyer the obligation to purchase a specific asset, and the seller to sell and deliver

the asset at a specific future date, unless such contract is terminated prior to such date for any reason. However, the product

provided by the company is CFD on Futures in Indices are leveraged financial instruments settled in cash and not undertaken on a

recognised exchange/regulated market, rather they are traded Over the Counter ("OTC"). The client speculates on the price

movement on rising or falling prices on the underlying Index without actually investing in or owning these Indices, by buying and

selling the CFD contracts. The price of the CFD on Futures in Indices is derived from the price of the underlying asset which is the

futures’ price. For any CFD two prices are quoted: (a) the higher price (‘Ask’), at which the investor can buy (‘go long’) and (b) the

lower price (‘Bid’), at which the investor can sell (‘go short’). The difference between the two is called the spread.

Objectives:

The objective of a CFD on Futures in Indices is to speculate on the performance of an Index without actually investing in or owning

the real Index. You will achieve profit if your speculation on the performance (positive or negative performance) was correct,

otherwise you will suffer losses with the difference between the opening price and closing price of the underlying asset. Please note

that when the equity (the sum of funds in the CFD trading account and the unrealised net profits of all open CFD position(s)

connected to that account) falls to less than half of the total initial margin used for all those open CFD position(s), your trading

position(s) will be closed in order to ensure that your trading equity will not fall below 50% of your margin used for all your open

trades.


This product is for Retail clients with knowledge and/or experience of the characteristics of CFDs on Futures in Indices trading

including the main market factors that determine indices fluctuations, the concept, effects and risks of leveraged trading, ability to

understand the risks involved including the risk of loss in their invested amounts. CFDs on Futures in

Indices are compatible with the needs of clients who seek short term capital gain and/or with a short-term investment horizon by

investing in highly liquid markets which can provide the benefit of quick pay-out. Clients should have a high-risk tolerance and be

willing to accept rapid price fluctuations and the specific risk of leverage in exchange for the opportunity of higher returns.

Term:

CFDs on Futures in Indices have a pre-defined maturity date and they are therefore not open-ended. The expiry date of a specific

CFD on Futures in Indices is available to be viewed in the Company’s platform. CFDs on Futures in Indices at their expiry cannot be

rolled over and if your positions are still open at the expiry date, they will be closed at the last available market price on the expiry

date. It’s up to each individual trader to decide the appropriate time to open and close his positions. However, each individual’s

position will only be kept open to the extent that he/she has available margin. Failure to deposit additional funds in order to meet

the margin requirement as a result of negative price movement, may result in the CFD position being automatically closed.


Risk Indicator








ITRADER.COM V3


the product will lose value because of movements in the markets or because the Company is not able to pay you. The Company has

classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future performance of the

product at a very high level. Trading risks are magnified by leverage. However, due to negative balance protection, your losses



Be aware of currency risk: It is possible to buy or sell CFDs on a commodity in a currency which is different to the base currency,

therefore, you may receive payments in a different currency, so the final return you will get depends on the exchange rate between


Leverage trading: Leverage can magnify the profits as well as the losses. Losses arising as a result of price movements and failure to

deposit additional funds may result in the CFD being auto-closed.






meaning that your equity is getting close to the total maintenance margin - a margin call or alert will be issued, asking you to consider

depositing additional funds. If you fail to deposit additional funds and the market continues to move against you, the Company may

close your position(s) (immediately and without notice) and you will realise any losses. However, due to negative balance protection,

your losses cannot exceed the amount invested.

Technical Risks: Since trading of the product depends on technology i.e. PC, mobile phone, internet failure and delays etc., you are

exposed to electronic disruptions, leading to delays in the opening and closing of a transaction, for which the Company shall not be

held liable. This product does not include any protection from future market performance, so you could lose some or all of your

trading balance. For more information on the Risks associated with trading the product, please see our Risk Disclosure document.


market without impacting the market price. You acknowledge that some products offered by the Company may suffer from liquidity

strains due to adverse market conditions, and as such, the volatility may be reflected in a larger spread between the ASK and BID

prices, resulting in a change in the price of the product.


Indices CFD (held intraday)

Open Price (Index CFD): OP $ 1,000

Trade Size (per CFD) TS 10

Margin: M 10%





Price Change



Price Change

Profit/Loss

Favourable $ 1,030 3% (1030-1000) x 10 = $ 300 profit

Favourable $ 970.00 -3% (1,000-970) x 10 = $ 300 profit

Moderate $ 1,005 0.5% (1005-1000) x 10 = $ 50 profit

Moderate $ 995.0 -0.5% (1,000-995) x 10 = $ 50 profit

Unfavourable $ 990 -1% (990-1000) x 10 = $-100 loss

Unfavourable $ 1,010 1% (1,000-1,010) x 10 = $-100 loss

Stress $ 950 -5% (950-1000) x 10 = $-500 loss

Stress $ 1,050 5% (1,000-1050) x 10 = $-500 loss

The scenarios above are taking into consideration client decision to buy/sell the underlying asset as per the above figures and closing

the trade at the same date. The potential profit and loss are based on the percentage change of the underlying asset as per the table

above. These scenarios illustrate how your investment could perform. You can compare them with other products. The scenarios

presented are an estimate of future performance based on evidence from the past on how the value of this investment varies and

they are not an exact indicator. What you get will vary depending on how the market performs and how long you keep the

investment/product. The stress scenario shows what you might get back in extreme market circumstances, and it does not take into




ITRADER.COM V3

account the situation where we are not able to pay you. The figures shown include all costs of the product itself but may not include

all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may

also affect how much you get back.



What are the costs?

Trading a CFD on an underlying Commodity incurs the following costs (the table shows the different types of cost categories and

their meaning):


CFDs on Futures in Indices have no recommended holding period hence, they are intended mostly, for short term trading. Provided that the Company is open for trading you can enter and exit positions at any time, as per the market’s trading hours. The Company shall proceed with the settlement of all trades (allocation of profits/losses) upon the execution and closure of the trade.

How can I complain?





In case there is a time lag between the time you place your order and the moment it is executed, your order may not be executed


The Documentation section of the Company’s website contains valuable information regarding your account which, you should read,

understand and acknowledge. You should ensure that you are familiar with all the Terms and Conditions and all the policies that

apply to your account.


One-off entry or

exit costs Spread

The difference between the buy price and the sell price is the spread. This cost is realised each time you open and close a trade. For example, if the underlying asset is trading at $1000, our offer price (the price in which you can buy), might be $1000.50 and our bid price (the price at which you can sell), might be $999.50.


financing fees


lots. Opening Price is $1000. If the overnight financing fee is $20 per lot and the client

holds a position from Monday to Wednesday, the client will be charged $120 overnight

for financing fee i.e. 3lot × $20 financing fee × 2 overnights = $120 will be charged as

financing fee.











ITRADER.COM V3

KEY INFORMATION DOCUMENT- CFDs ON CRYPTOCURRENCIES Purpose




Product

Name of Product: Contracts for Differences (CFDs) on Cryptocurrencies.

Provider: CFDs on Cryptocurrencies are offered by ITRADER, a trading name operated by Hoch Capital Ltd (the “Company”), a

Cypriot Investment Firm (“CIF”), authorised and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under

licence number 198/13. For more information, you can visit the Company’s websites, at www.itrader.com, www.hochcapital.com

or contact our support team via email at [email protected] or via phone at +80040015002.


request previous versions by contact us via email at [email protected].


CFDs on Cryptocurrencies are leveraged, derivative financial instruments not undertaken on a recognised exchange/regulated

market, rather they are undertaken Over the Counter ("OTC"). The client can speculate on the price movement (positive or

negative performance) of cryptocurrencies without actually investing in or owning the underlying asset, by buying and selling

contracts. For any CFD two prices are quoted: (a) the higher price (‘Ask’), at which the investor can buy (‘go long’) and (b) the lower

price (‘Bid’), at which the investor can sell (‘go short’). The difference between the two is the spread.

Objectives:

The objective of a CFD on Cryptocurrencies is to speculate on the performance of a cryptocurrency without actually investing in

or owning the cryptocurrency. You will achieve profit if your speculation on the performance (positive or negative performance)

was correct, otherwise you will suffer losses, with the difference between the opening price and closing price of the underlying

asset. Please note that when the equity (the sum of funds in the CFD trading account and the unrealised net profits of all open

CFD position(s) connected to that account) falls to less than half of the total initial margin used for all those open CFD position(s),

your trading positions will be closed in order to ensure that your trading equity will not fall below 50% of your margin used for all

your open trades.


This product is for Retail clients with knowledge and/or experience of the characteristics of CFDs on Cryptocurrencies trading

including the main market factors that determine Cryptocurrencies fluctuations, the concept, effects and risks of leveraged trading,

ability to understand the risks involved including the risk of loss of their invested amounts. CFDs on Cryptocurrencies are

compatible with the needs of clients who seek short term capital gain and/or with a short-term investment horizon by investing

in highly liquid markets which can provide the benefit of quick pay-out. Clients should have a high-risk tolerance and be willing to

accept rapid price fluctuations and the specific risk of leverage in exchange for the opportunity of higher returns.

Term:

CFDs on Spot in Commodities do not have a pre-defined maturity date and they are therefore open-ended. It’s up to each individual

trader to decide the appropriate time to open and close his positions. However, each individual’s position will only be kept open

to the extent that he/she has available margin. Failure to deposit additional funds in order to meet margin requirement as a result

of negative price movement, may result in the CFD position being automatically closed.


Risk Indicator

The summary Risk Indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that


has classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future performance of

the product at a very high level. Trading risks are magnified by leverage. However, due to negative balance protection, your losses









ITRADER.COM V3



Be aware of currency risk: It is possible to buy or sell CFDs on a Cryptocurrency in a currency which is different to the base currency










meaning that your equity is getting close to the total maintenance margin - a margin call or alert will be issued, asking you to

consider depositing additional funds. If you fail to deposit additional funds and the market continues to move against you, the

Company may close your position(s) (immediately and without notice) and you will realise any losses. However, due to negative

balance protection, your losses cannot exceed the amount invested.

Technical Risks: Since trading of the product depends on technology i.e. PC, mobile phone, internet failure and delays etc., you



your trading balance. For more information on the Risks associated with trading the product, please see our Risk Disclosure

document.





Cryptocurrencies are traded on non-regulated decentralized digital exchanges. This means that the price formation and price

movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject

to change at any point in time and without notice, including the implementation of trading suspensions or other actions.

Cryptocurrencies are exposed to high intra-day price volatility, which may be substantially higher compared to other Financial

Instruments. This product does not include any protection from future market performance, so you could lose some or all of your

investment.




Price Change



Price Change

Profit/Loss

Favourable $ 6,720 12% (6720-6000) x 1 = $ 720 profit

Favourable $ 5,280.00 -12% (6000-5280) x 1 = $ 720 profit

Moderate $ 6,120 2.0% (6120-6000) x 1 = $ 120 profit

Moderate $ 5,880.0 -2.0% (6000-5880) x 1 = $ 120 profit

Unfavourable $ 5,820 -3% (5820-6000) x 1 = $-180 loss

Unfavourable $ 6,180 3% (6000-6180) x 1 = $180 loss

Stress $ 5,100 -15% (5100-6000) x 1 = $-900 loss

Stress $ 6,900 15% (6000-6900) x 1 = $-900 loss



Indices CFD (held intraday)

Open Price (Cryptocurrency CFD): OP $ 6,000


Margin: M 50%






ITRADER.COM V3

as described in the tables above. These scenarios illustrate how your investment could perform. You can compare them with other



how long you keep the investment/product. The stress scenario shows what you might get back in extreme market circumstances,

and it does not take into account the situation where we are not able to pay you. The figures shown include all costs of the product

itself but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal

tax situation, which may also affect how much you get back.



What are the costs?

Trading a CFD on an underlying Cryptocurrency incurs the following costs (the table shows the different types of cost categories

and their meaning):


CFDs on Cryptocurrencies have no recommended holding period hence, they are intended mostly for short term trading. Provided that the Company is open for trading you can enter and exit positions at any time, as per the market’s trading hours. The Company shall proceed with the settlement of all trades (allocation of profits/losses) upon the execution and closure of the trade.

How can I complain?



the Financial Ombudsman Service of the Republic of Cyprus.








One-off entry

or exit costs Spread

The difference between the buy price and the sell price is the spread. This cost is realised each time you open and close a trade. For example, if the underlying asset is trading at $6,000our offer price (the price in which you can buy), might be $6000.50 and our bid price (the price at which you can sell), might be $5999.50.

Ongoing

costs

Overnight

financing

fees

An overnight financing fee is either added to or subtracted from your account whenever a position is left open overnight. The overnight financing fees are found in the instrument's details on the trading platform and it is charged per lot. Example 1 lot of the specific CFD’s underlying asset is defined as 1 contract. The trade size is 3 lots. Opening Price is $6,000. If the overnight financing fee is $20 per lot and the client holds a position from Monday to Wednesday, the client will be charged $120 overnight for financing fee i.e. 3(lots) x $20 (financing fee) x 2(overnights) = $120 will be charged as financing fee.











ITRADER.COM V3

KEY INFORMATION DOCUMENT- CFDs ON FUTURES IN COMMODITIES Purpose

This document provides you with key information about this investment product. It is not marketing material. The information

is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you

compare it with other products.

Product

Name of Product: Contract for Differences (CFDs) on Futures in Commodities.

Provider: CFDs on Futures in Commodities are offered by ITRADER, a trading name operated by Hoch Capital Ltd (the

“Company”), a Cypriot Investment Firm (the “CIF”), authorised and regulated by the Cyprus Securities and Exchange Commission

(the “CySEC”) under licence number 198/13. For more information, you can visit the Company’s websites at www.itrader.com,

www.hochcapital.com or contact our support team via email at [email protected] or via phone +80040015002.




Futures means a future contract which gives the buyer the obligation to purchase a specific asset, and the seller to sell and

deliver the asset at a specific future date, unless such contract is terminated prior to such date for any reason. However, the

product provided by the company is CFD on Futures in Commodities are leveraged financial instruments settled in cash and not

undertaken on a recognised exchange/regulated market, rather they are traded Over the Counter ("OTC"). The client speculates

on the price movement on rising or falling prices on the underlying commodity without actually investing in or owning these

commodities, by buying and selling the CFD contracts. The price of the CFD on Futures in Commodities is derived from the price

of the underlying asset which is the futures’ price. For any CFD two prices are quoted: (a) the higher price (‘Ask’), at which the

investor can buy (‘go long’) and (b) the lower price (‘Bid’), at which the investor can sell (‘go short’). The difference between the

two is called the spread.

Objectives:

The objective of a CFD on Futures in Commodities is to speculate on the performance of a commodity without actually investing

in or owning the real commodity. You will achieve profit if your speculation on the performance (positive or negative

performance) was correct, otherwise you will suffer losses with the difference between the opening price and closing price of

the underlying asset. Please note that when the equity (the sum of funds in the CFD trading account and the unrealised net

profits of all open CFD position(s) connected to that account) falls to less than half of the total initial margin used for all those

open CFD position(s), your trading position(s) will be closed in order to ensure that your trading equity will not fall below 50% of

your margin used for all your open trades.


This product is for Retail clients with knowledge and/or experience of the characteristics of CFDs on Futures in Commodities

trading, including the main market factors that determine commodities fluctuations, the concept, effects and risks of leveraged

trading, ability to understand the risks involved including the risk of loss of their invested amounts. CFDs on Futures in

Commodities are compatible with the needs of clients who seek short term capital gain and/or with a short-term investment

horizon by investing in highly liquid markets which can provide the benefit of quick pay-out. Clients should have a high-risk

tolerance and be willing to accept rapid price fluctuations and the specific risk of leverage in exchange for the opportunity of

higher returns.

Term:

CFDs on Futures in Commodities have a pre-defined maturity date and they are therefore not open-ended. The expiry date of a

specific CFD on Futures in Commodity is available to be viewed in the Company’s platform. CFDs on Futures in Commodities at

their expiry cannot be rolled over and if your positions are still open at the expiry date, they will be closed at the last available

market price on the expiry date. It is up to each individual trader to decide on the appropriate time to open and close his

positions. However, each individual’s position will only be kept open to the extent that he/she has available margin. Failure to

deposit additional funds in order to meet margin requirement as a result of negative price movement, may result in the CFD

position being automatically closed.


Risk Indicator








ITRADER.COM V3

Risk Indicator

The summary Risk Indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is

that the product will lose value because of movements in the markets or because the Company is not able to pay you. The

Company has classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future

performance of the product at a very high level. Trading risks are magnified by leverage. However, due to negative balance

protection, your losses cannot exceed the amount invested. Trade only after you have acknowledged and accepted the risks.

You should carefully consider whether trading in leveraged products is appropriate for you.

Be aware of currency risk: It is possible to buy or sell CFDs on a commodity in a currency which is different to the base currency,

therefore, you may receive payments in a different currency, so the final return you will get depends on the exchange rate

between the two currencies. This risk is not considered in the indicator shown above.

Leverage trading: Leverage can magnify the profits as well as the losses arising as a result of price movements and failure to


Market risk: market fluctuations can impact the appreciation or depreciation of the asset value and can impact your trading

result.

CFD trading requires you to maintain a certain level of funds in your account in order to open position(s) and to keep the

position(s) open. This is the initial margin, maintenance margin respectively. You will be able to open a position by depositing

only a small percentage of the notional value of the position, creating a leveraged position. Leverage can significantly magnify

your gains and losses. If the funds in your account decrease to the point that they will soon become insufficient to keep your

position(s) open – meaning that your equity is getting close to the total maintenance margin - a margin call or alert will be issued,

asking you to consider depositing additional funds. If you fail to deposit additional funds and the market continues to move

against you, the Company may close your position(s) (immediately and without notice) and you will realise any losses. However,

due to negative balance protection, your losses cannot exceed the amount invested.

Technical Risks: Since trading of the product depends on technology i.e. PC, mobile phone, internet failure and delays etc., you


not be held liable. This product does not include any protection from future market performance, so you could lose some or all

of your trading balance. For more information on the Risks associated with trading the product, please see our Risk Disclosure

document.

Liquidity Risk: This is the financial risk that for a certain period of time an underlying asset cannot be traded quickly enough in

the market without impacting the market price. You acknowledge that some products offered by the Company may suffer from

liquidity strains due to adverse market conditions, and as such, the volatility may be reflected in a larger spread between the

ASK and BID prices, resulting in a change in the price of the product.


Commodity CFD (held intraday)

Open Price (commodity CFD): OP $50


Margin: M 10%

Margin Required (USD) MR = OP x TS x M $5,000

Notional Value of the Trade (USD) NVT = MR/M $50,000



Price Change

Profit/Loss Sell (Short) Performance Scenario


Price Change

Profit/Loss

Favourable 50.5$ 1% (50.5-50) x 1000 = $500 profit

Favourable 48.5$ -3% (50-48.5) x 1000 = $1,500 profit

Moderate 50.25$ +0,5% (50.25-50) x 1000 = $250 profit

Moderate 49.75$ 0,5% (50-49.75) x 1000 = $250 profit

Unfavourable 49.5$ -1% (49.5-50) x 1000 = $-500 loss

Unfavourable 50.5$ 1% (50-50.5) x 1000 = $-500 loss

Stress 47.5$ -5% (47.5-50) x 1000 = $-2,500 loss

Stress 52.5$ 5% (50-52.5) x 1000 = $-2500 loss





ITRADER.COM V3


and closing the trade at the same date. The potential profit and loss are based on the percentage change of the underlying asset

as per the tables above. These scenarios illustrate how your investment could perform. You can compare them with other



how long you keep the investment/product. The stress scenario shows what you might get back in extreme market

circumstances, and it does not take into account the situation where we are not able to pay you. The figures shown include all

costs of the product itself but may not include all the costs that you pay to your advisor or distributor. The figures do not take

into account your personal tax situation, which may also affect how much you get back.



What are the costs?

Trading a CFD on an underlying commodity future incurs the following costs

(the table shows the different types of cost categories and their meaning):


CFDs on Futures in Commodities have no recommended holding period hence, they are intended mostly for short term trading. Provided that the Company is open for trading you can enter and exit positions at any time, as per the market’s trading hours. The Company shall proceed with the settlement of all trades (allocation of profits/losses) upon the execution and closure of the trade.

How can I complain?


If after filing a complaint with us, you are dissatisfied with our response to your complaint, you are entitled to refer the matter

to the Financial Ombudsman Service of the Republic of Cyprus ("FOSRC").








One-off entry

or exit costs

Spread

The difference between the buy price and the sell price is the spread. This cost is realised each time you open and close a trade. For example, if the underlying asset is trading at $49.75, our offer price (the price in which you can buy), might be $50 and our bid price (the price at which you can sell), might be $49.5.


financing fees


lots. Opening Price is $50. If the overnight financing fee is $20 per lot and the client holds

a position from Monday to Wednesday, the client will be charged $120 overnight for

financing fee i.e. 3 lots x $20 financing fee x 2 overnights = $120will be charged as

financing fee.











ITRADER.COM V3

KEY INFORMATION DOCUMENT- CFDs ON STOCKS

Purpose




Product

Name of Product: Contracts for Differences (CFDs) on Stocks.

Provider: CFDs on stocks are offered by ITRADER, a trading name operated by Hoch Capital Ltd (the “Company”), a Cypriot

Investment Firm (the “CIF”), authorised and regulated by the Cyprus Securities and Exchange Commission (the “CySEC”) under

licence number 198/13. For more information, you can visit the Company’s website or via phone +80040015002 at

www.itrader.com, www.hochcapital.com or contact our support team via email at [email protected] or via phone at

+80040015002.

This Key Information Document (“KID”) version was reviewed and updated on the 21st of June 2019 and you have the right to request

previous versions by contact us via email at [email protected].


CFDs on Stocks are leveraged financial instruments settled in cash and not undertaken on a recognised exchange/regulated market,

rather they are traded Over the Counter ("OTC"). The client speculates on the price movement on rising or falling prices on the

underlying stock without actually investing in or owning these stocks, by buying and selling the CFD contracts. The price of the CFD

on stocks is derived from the price of the underlying asset which is the current stock price. For any CFD, two prices are quoted: (a)

the higher price (‘Ask’), at which the investor can buy (‘go long’) and (b) the lower price (‘Bid’), at which the investor can sell (‘go

short’). The difference between the two is called the spread.

Objectives:

The objective of a CFD on stocks is to speculate on the performance of an underlying stock without actually owning this stock. You

will achieve profit if your speculation on the performance (positive or negative performance) was correct, otherwise you will suffer

losses with the difference between the opening price and closing price of the underlying asset. Please note that when the equity

(the sum of funds in the CFD trading account and the unrealised net profits of all open CFD position(s) connected to that account)

falls to less than half of the total initial margin used for all those open CFD position(s), your trading position(s) will be closed in order

to ensure that your trading equity will not fall below 50% of your margin used for all your open trades.


This product is for Retail clients with knowledge and/or experience of the characteristics of CFDs on stocks trading, including the

main market factors that determine stock fluctuations, the concept, effects and risks of leveraged trading, ability to understand the

risks involved including the risk of loss of their invested amounts. CFDs on Stocks are compatible with the needs of clients who seek

short term capital gain and/or with a short-term investment horizon by investing in highly liquid markets which can provide the

benefit of quick pay-out. Clients should have a high-risk tolerance and be willing to accept rapid price fluctuations and the specific

risk of leverage in exchange for the opportunity of higher returns.

Term:

CFDs on Stocks do not have a pre-defined maturity date and they are therefore open-ended. It’s up to each individual trader to

decide on the appropriate time to open and close his positions. However, each individual’s position will only be kept open to the

extent that he/she has available margin. Failure to deposit additional funds in order to meet margin requirement as a result of

negative price movement, may result in the CFD position being automatically closed.


Risk Indicator


the product will lose value because of movements in the markets or because the Company is not able to pay you. The Company has

classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future performance of the









ITRADER.COM V3

product at a very high level. Trading risks are magnified by leverage. However, due to negative balance protection, your losses



Be aware of currency risk: It is possible to buy or sell CFDs on stocks in a currency which is different to the base currency therefore,

you will receive payments in a different currency, so the final return you will get depend on the exchange rate between the two

currencies. This risk is not considered in the indicator shown above.

Leverage trading: Leverage can magnify the profits as well as the losses. Losses arising as a result of price movements and failure to







meaning that your equity is getting close to the total maintenance margin - a margin call or alert will be issued, asking you to consider

depositing additional funds. If you fail to deposit additional funds and the market continues to move against you, the Company may

close your position(s) (immediately and without notice) and you will realise any losses. However, due to negative balance protection,

your losses cannot exceed the amount invested.

Technical Risks: Since trading of the product depends on technology i.e. PC, mobile phone, internet failure and delays etc., you are

exposed to electronic disruptions, leading to delays in the opening and closing of a transaction, for which the Company shall not be

held liable. This product does not include any protection from future market performance, so you could lose some or all of your

trading balance. For more information on the Risks associated with trading the product, please see our Risk Disclosure document.


market without impacting the market price. You acknowledge that some products offered by the Company may suffer from liquidity

strains due to adverse market conditions, and as such, the volatility may be reflected in a larger spread between the ASK and BID

prices, resulting in a change in the price of the product.


Stock CFD (held intraday)

Open Price (Stock CFD): OP $ 1,600


Margin: M 20%

Margin Required (usd) MR = OP x TS x M $ 3,200

Notional Value of the Trade (usd) NVT = MR/M $ 16,000



Price Change



Price Change

Profit/Loss

Favourable $ 1,648.00

3% (1648-1600) x 10 = $480 profit

Favourable $ 1,552.00 -3% (1600-1552) x 10 = $ 480 profit

Moderate $ 1,608.0

0.5% (1608-1600) x 10 = $80 profit

Moderate $ 1,592.0 -0.5% (1600-1592) x 10 = $80 profit

Unfavourable $ 1,584.0

-1% (1584-1600) x 10 = $-160 loss

Unfavourable $ 1,616 1% (1600-1616) x 10 = $-160 loss

Stress $ 1,520.0

-5% (1520-1600) x 10 = $-800 loss

Stress $ 1,680 5% (1600-1680) x 10 = $-800 loss

The scenarios above are taking into consideration the client’s decision to buy/sell the underlying asset as per the above figures and

closing the trade on the same day. The potential profit and loss are based on the percentage change of the underlying asset as

described in the tables above. These scenarios illustrate how your investment could perform. You can compare them with other

products. The scenarios presented are an estimate of future performance based on evidence form the past on how the value of this

investment varies and are not an exact indicator. What you get will vary depending on how the market performs and how long you

keep the investment/product. The stress scenario shows what you might get back in extreme market circumstances, and it does not

take into account the situation where we are not able to pay you. The figures shown do not include all costs that you pay, as indicated

below. The figures do not take into account your personal tax situation, which may also affect how much you get back.




ITRADER.COM V3



What are the costs?

Trading a CFD on an underlying stock incurs the following costs (the table shows the different types of cost categories and their

meaning):


CFDs on stocks have no recommended holding period hence, they are intended mostly for short term trading. Provided that the Company is open for trading you can enter and exit positions at any time, as per the market’s trading hours. The Company shall proceed with the settlement of all trades (allocation of profits/losses) upon the execution and closure of the trade.

How can I complain?



the Financial Ombudsman Service of the Republic of Cyprus.




The Documentation section of the Company’s website contains valuable information regarding your account, which you should read,

understand and acknowledge. You should ensure that you are familiar with the Terms & Conditions and all the policies that apply

to your account.


One-off entry or exit

costs Spread

The difference between the buy price and the sell price is the spread. This cost is realised each time you open and close a trade. For example, if the underlying asset is trading at $1600, our offer price (the price in which you can buy), might be $1600.50 and our bid price (the price at which you can sell), might be $1599.50.


financing fees

An overnight financing fee is either added to or subtracted from your account whenever a position is left open overnight. The overnight financing fees are found in the instrument's details on the trading platform and it is charged per lot. Example 1 lot of the specific CFD’s underlying asset is defined as 10 contracts. The trade

size is 3 lots. Opening Price is $1600. If the overnight financing fee is $20 per lot

and the client holds a position from Monday to Wednesday, the client will be

charged $120 overnight for financing fee i.e. 3lot × $20 financing fee × 2

overnights = $120 will be charged as financing fee.









Documents

KEY INFORMATION DOCUMENT- CFDs ON FX PAIRS€¦ · A CFD is a popular form of derivative trading. The price of the CFD is derived from the price of the underlying FX pair. CFD trading