Terms & Conditions

Introduction

This is a legal contract between AxisFx, hereinafter known as (“AxisFx”, “us” or “we”) its successors and assigns, and the party/parties (the “Customer”, “client” or “you”) executing this document. This document, together with our Risk Disclosure Statement and Privacy Statement, represents the terms with which AxisFx will do business with Customer. This document sets out the respective rights and obligations of both parties in connection with this service and both parties will accept and be bound by these terms on acceptance of the terms contained herein and on completion of the application form by Customer.

In connection with opening an account with AxisFx to speculate in, and/or purchase, and/or sell, Forex, Contracts for Differences hereinafter referred to as “CFDs” and the receipt of such other services and products as AxisFx may, in its sole discretion, determine to offer from time to time in the future, Customer acknowledges that it has been advised and understands the following factors concerning trading in the over the counter market (“OTC”) and/or Spread Betting market, in addition to those contained in the Risk Disclosure Statement which has been provided to Customer. We trade contracts for differences (“CFD”) transactions in OTC.

In consideration of AxisFx agreeing to provide services to “Customer”, “client” or “you” in connection with the purchase of Forex, CFDs, Options and Spread Betting in commodities, currencies, metals and indices and the receipt of such other services and products as AxisFx may, in its sole discretion, determine to offer from time to time in the future and which may be purchased or sold by or through AxisFx for Customer’s accounts(s), Customer agrees that the following rights and obligations will govern the relationship between AxisFx and Customer.

1.PRINCIPLES OF INTERACTION

Principle

1.1. The Company is eligible to offer several types of Trading Accounts with different characteristics and features. The Company also reserves the right to change Trading Accounts’ features and eligibility criteria and to make the type of the Trading Account unavailable at any time. The Company will give prior notice of such changes on the Website, by email, or on the Trading Platform.

1.2. Unless otherwise agreed in writing by the Company, the Client will deal with the Company as principal and not as an agent or representative of another person. This means that unless we agree otherwise in writing, we will treat you as the Client for all purposes, and the Client will be directly and personally responsible for performing obligations under each Contract entered by the Client, whether the Client is dealing with the Company directly or through an agent.

1.3. If the Client acts on behalf of a principal, whether or not the Client identifies that principal to us, such principal will not be the Client of the Company. We will accept no obligations to them and will only deal with you unless we otherwise agree (to the satisfaction of our requirements).

1.4. The Company will deal with the Client on an execution-only basis unless otherwise agreed by the Company.

1.5. The Company is entitled to refuse the provision of service to the Client at any time, and the Client agrees that the Company is not obliged to provide reasoning for such action.

1.6. The Company is not a tax agent and acts. The Client complies with their tax and/or any other obligations independently and on their own. The Client is solely responsible for all documents, tax returns, and reports on any transactions that must be submitted to any relevant authority, whether governmental or otherwise, and for the payment of all taxes arising from any transaction, income, or in connection with them.

Placing an Order

1.7. The Trader’s room gives the Client access to the Trading Platform. All instructions to place an Order must be placed via the Trading Platform. We do not accept any Orders and/or instructions via any other means unless we agree with you to do so in advance. We have no liability if any communication is interrupted before we receive an instruction from the Client to trade via the Trading Platform.

1.8. We are entitled to act on any Orders or instructions transmitted using the Client’s username, Trading Account number, or password.

1.9. Any Order or instruction sent by the Client via the Trading Platform will be deemed to have been received and will only constitute a valid instruction and binding Contract between you and the Company in exceptional cases when such Order or instruction has been recorded as accepted by the Company, and the Confirmation is provided to you via the Trading Platform.

1.10. The transmission of an Order or instruction to the Company does not automatically give rise to a binding Contract between the Client and us. Any Order made by the Client is always subject to the Company accepting an offer and such Order having been recorded as accepted and confirmed by the Company. The Client is responsible for contacting the Company if a Confirmation is expected in relation to a transaction but is not received.

1.11. Any delay or errors in the transmission of an Order or the execution of instructions will not be our responsibility, nor are we liable for them (except to the extent that responsibility cannot be excluded by law).

1.12. In exceptional cases, the use of the same IP address or accounts sharing the same device by different Clients can be a basis for considering all the Orders on all the Trading Accounts performed from this IP address or the same device as those performed by the same Client.

All trades at Your risk

1.13. You agree that the Company is under no obligation:

1.14. to satisfy ourselves as to the suitability of any Contract for you;

1.15. to monitor or advise you on the status of any trades;

1.16. to make Margin Calls; or

1.17. to close any open Positions unless the Aggregate Margin Close-Out Protection is triggered, even though previously, we may have taken action in relation to that trade or any other trades.

1.18. All trades will, therefore, be made at your own risk and to the maximum extent permitted by law, we will not in any way be liable for any claims, damages, or Loss (including consequential losses) suffered or incurred by you as a result of or arising out of:

1.19. any statement, information, or communication provided by, or on behalf of, the Company relating to a trade entered or proposed to be entered into by you under the Client Agreement.

2. TRADING ACCOUNT

Registration and Trading Account opening

2.1. To start interacting with the Company, the Client needs to register the Trader’s room, the Client will need to specify email, which must be confirmed. The Trader’s room aims to provide the Client with all the data necessary to manage the Trading Account.

2.2. After registering the Trader’s room, the Client will be able to open the Trading Account. To complete the registration procedure, the Client will need to go through the verification procedure: provide relevant personal information and KYC documents.

2.3. The Client undertakes and warrants to the Company that any information provided to the Company is correct and that the Client will immediately inform the Company of any material changes to that information, including any changes to contact details or financial status.

2.4. In case of any change or modification of personal data or expiration of personal identification documents, the Client shall notify the Company within three (3) business days of such changes/expiration.The notification must be sent to support@axisfx.com from the email the Client submitted during the registration. The Company has the right to request other verification documents in order to verify the Client and comply with applicable Anti-Money Laundering Legislation.

2.5. Please note that when you register the Trader’s room, you will choose a username and password that will personally belong to you and will be used only by you each time you log on to our system. These passwords should be kept private and confidential at all times. It is your sole responsibility to safeguard this information, and you are responsible for all actions made in your Trading Account. You agree to notify the Company immediately if any unauthorized use of your passwords or any other violation of security is made.

3. DEPOSIT AND WITHDRAWALS

3.1. The Client may deposit and withdraw funds into the Trading Account at any time during the course of the Client Agreement by using any of the payment methods available in the Trader Area from time to time. Minimum deposit requirements, minimum withdrawal requirements as well as withdrawal commissions, and deposit commission can be found in the Trader Area. The Company shall not accept third-party or anonymous payments to the Trading Account.

3.2. The Client shall understand and agree that if the Client uses one payment method, they will use the same method to withdraw funds unless this is justified at the Company’s discretion. The Company’s discretion may be exercised.

3.3. The Company has the right to refuse deposit and withdrawal operations in the cases if the email, telephone number, identity, address, and/or other information provided and/or collected is not fully verified by the Company or up to date, with the requirements of such verification vested in the Company’s sole discretion.

3.4. If the Client makes a deposit, the Company shall credit the relevant Trading Account with the relevant amount actually received by the Company as soon as practically possible after the amount is cleared in the relevant account of the Company.

3.5. Upon the Company receiving an instruction from the Client to withdraw funds from the Trading Account, the Company shall process the transaction request without undue delay and, where feasible. withdrawals may take longer than expected for numerous reasons, some in AxisFx’s control and some not.

3.6. It is agreed and understood that withdrawals will only be effected towards the Client. The Company does not permit withdrawals to any third party and/or to an anonymous account.

3.7. The Company reserves the right to set the minimum deposit amount and minimum withdrawal amount in accordance with the requirements of the payment service provider. The minimum and maximum amounts of deposit and withdrawal are specified on the payment form. Please check the payment service provider’s requirements in advance.Before submitting a withdrawal request, the Client should ensure that the requested amount is equal to or above the minimum amount required for each withdrawal method.

4. CONFLICTS OF INTEREST

4.1. The Company may be required to have arrangements in place to manage conflicts of interest between the Company and its clients and between clients themselves. The Company will take all reasonable steps to avoid conflicts of interest. When conflicts of interest cannot be avoided the Company shall disclose to the Client the nature and source of the conflict. The Company shall at all times ensure that clients are treated fairly and with the highest level of integrity and that their interests are protected.

5. MARGIN LEVERAGE LEVELS

5.1. As a condition of entering into a Transaction, the Company requires the deposit of Margin to secure the Client’s liability to the Company for any losses which may be incurred in respect of the Transaction. The “Leverage Level” is the ratio of Margin to the market value of the open Transaction position which it secures. By accepting this Agreement the Client has read, understood and accepted the “Leverage Levels” as these are uploaded in the Main Website. The Leverage Level of a Client’s Account(s) may be changed by the Company in its absolute discretion with reference to such matters as the deposit or Margin amount held in the Client Account and the size of credit exposure held on Financial Instrument(s) held in the Client Account(s).

5.2. Margin requirements or Leverage Level may be set and varied without prior notice from time to time in the Company’s sole and absolute discretion in order to cover any realized or unrealised losses arising from or in connection with Transactions, including subsequent variation of any Margin rates set at the time Transactions are opened. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time in accordance with the Company’s risk parameters, and that the Company bears no responsibility for any losses/damages incurred by the Client as a result. Such an event will be disclosed to the Client by the Company via its internal mail or by email.

5.3. The Client is obliged to maintain in his Account, at all times, sufficient funds to meet all Margin requirements. In addition, the Company will be entitled to treat any assets deposited with it by the Client from time to time (other than assets deposited for safe custody only) as collateral against the Client’s Margin requirements. Only funds received net of any bank charges, which relate to the transfer, will be credited as paid.

5.4. The Client acknowledges that he is responsible for monitoring the Margin on his Account.

5.5. The Company reserves the right to change the Client Account type based on the total Margin deposits made on the Client’s account as well as based on the Client’s trading account current balance.

6. COMMUNICATION BETWEEN CLIENT AND THE COMPANY

6.1. The principal method of communication between AxisFx and Customer will be electronically via AxisFx’s website and on-line trading platforms.

6.2. Unless otherwise specified, the Client has to send any notice, instruction, request or other communication via e-mail at support@axisfx.com.

6.3. All notices/information provided by the Company or received from the Clients should be in the English language.

7. COMPLAINT HANDLING PROCEDURES

7.1. The Company has introduced an internal dispute resolution system to resolve any complaints or concerns Clients may have. Clients who are not satisfied with any aspects of our service should contact the Company’s Customer Support Department by emailing: support@axisfx.com.

7.2. Notwithstanding the above, the Company, as part of its commitment to treating all its clients fairly, will review and handle a complaint that was submitted outside the timeframes indicated above.

8. CONFIDENTIALITY

8.1. The information we hold about you is confidential and will not be used for any purpose other than in connection with the provision of the Services. Information of a confidential nature will be treated as such provided that such information is not already in the public domain.

8.2. Customer acknowledges that the AxisFx IP is confidential and has been developed through the expenditure of substantial skill, time, effort and money.

8.3. The Customer will protect the confidentiality of the AxisFx IP and not allow website access to any third party.

8.4. Customer will not publish, distribute, or otherwise make available to third parties any information derived from or relating to the AxisFx IP.

8.5. Customer will not copy, modify, de-compile, reverse engineer, or make derivative works of the AxisFx IP or in the manner in which it operates.

9. RECORDING OF TELEPHONE CONVERSATIONS

9.1. The Client consents to the electronic recording of your telephone discussions with us, with or without making a disclosure to you each and every time you speak with a representative of the Company. These calls may be recorded with or without an audible tone; and

9.2. the recording and retention of all electronic communications with us, including but not limited to communications by email or through the Trading Platform, with or without any further warning to this effect during the communication; and

9.3. the use of recordings, transcripts, or electronic communications from such recordings for any purpose, including, but not limited to, their use as evidence by either party in any dispute between you and us, monitoring and training our staff, and monitoring compliance with regulatory and contractual obligations.

9.4. All recordings are the property of the Company and may be used in instances, including but not limited to, of dispute and shall be conclusive and binding evidence.

10. RULES OF TRADING

10.1. There are rules which you need to follow when using our Services. These are:

10.2. you must not reverse engineer or avoid any security measures on the trading platform;

10.3. you must not use any software, artificial intelligence, ultra-high speed, or mass data entry which might manipulate, game, abuse, or give you an unfair advantage when using our systems or Services;

10.4. you will not enter into trades which manipulate our platform, for example entering into a buy trade as well as a sell trade, for the same or for a similar product, at the same or similar time;

10.5. you will not enter into transactions or combinations of transactions such as holding long and short positions in the same or similar instruments at similar times either by you or by you acting in concert with others, including between connected accounts, or accounts held with different entities within company, which, taken together or separately, are for the purpose of manipulating the trading platform for gain;

10.6. you will not act in an unfair, abusive, manipulative, or illegal way when using our Services, for example scalping;

10.7. you will not enter into trades aimed at exploiting errors in prices and/or conclude trades at off market prices; and/or

10.8. Your order must not violate exchange rules or securities or commodities laws, regulations or rules, and/or be intended to defraud or manipulate the market.

10.9. If you make money by breaching the above rules, we may not pay that money to you or, if we have paid that money, we may deduct it from your account.

10.10. If you breach any of the above rules we will record such breach. We may also cancel your orders, freeze, block and/or terminate our Services, your account, and/or our Agreement.

11. REQUIRED DOCUMENTS ( KYC )

11.1. AxisFx aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method. When you deposit funds, we will require the following documents:

11.1.1. A copy of your valid passport with the signature page/ Government issued Identity card/ Driving License.

11.1.2. A copy of a recent utility bill in your name and address.

11.2. Optional – Our Accounts department will request the following documents in case of suspected fraudulent activity or to further verify the client identity and source of funds.

11.2.1. Copies of your credit cards, used to make the deposit (Front side with only the 4 last digits visible, back side with the CVV covered).

11.2.2. A signed purchase history of your online transactions.

11.3. If you have any questions, please don’t hesitate to contact our customer support: support@axifx.com.

11.4. We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions to your benefit. Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades or withdrawals. Please note that if we will not receive the required documents on file, your pending withdrawals will be canceled and credited back to your trading account. We will notify you on such an event via our system.

11.5. Please scan your documents, or take a high-quality digital camera picture, save the images as jpegs, then upload them through traders’ room or send it to us via mail to support@axisfx.com.

11.6. We will protect your personal data at all costs from any misuse, unauthorized access,alteration, destruction and disclosure. The companies have taken strong measures to protect the security of your information and to ensure that your choices for its intended use are honored. We maintain strict information policies which allow us to improve our security environment in order to eliminate ant data breach incidents.

12. FEES AND CHARGES

12.1. The provision of Services and the performing of both trading and non-trading operations under the Client Agreement is subject to the payment of charges to the Company (“Costs”). Costs to the Company are set out on the Website and/or in the Trader Area and/or communicated to the Client through other means.

12.2. Costs related to trading operations (“Trading Spread”) may be charged at the opening and/or during the lifetime and/or upon the closing of such trading operations.

12.3. Any Costs, including commissions, spreads, and others, shall be paid by the Client as set out on our Website or/and in the Contract specifications.

12.4. The Company reserves the right to change, from time to time, any of the Costs applicable to the Client without prior written notice, and any such information shall be displayed on the Website and/or in the Trader Area and/or are communicated to the Client through other means.

12.5. The Client agrees to pay all expenses relating to the Client Agreement and to any documentation which may be required for the carrying out of transactions.

12.6. Costs may include:

12.6.1. (if applicable) any transaction charges, including all Trading Commission, Swap, Margins, interest, default charges, taxes (including GST but excluding our income tax or penalty tax and levies), and any other amounts due under the Client Agreement;

13. INTELLECTUAL PROPERTY

13.1. The entire contents of our Trading Platform, our software, the Website, and our mobile application, including but not limited to all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme, and graphics, are protected by international copyright and trademark laws. Except for third party content, the contents of our Online Trading Facility are original works of authorship published by us or by or on behalf of our Third Party Licensors.

14. LIMITATION OF LIABILITY AND INDEMNITY

14.1 Without prejudice to any other terms and conditions of these Terms and Conditions relating to the limitation of liability and provision of indemnities, and subject to any laws restricting the Company from limiting our liability, and to the maximum extent permitted by those laws, we are not liable for:

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

14.1.2. We are not liable for any Loss, liability, or cost whatsoever arising from any unauthorized use of the Trading Platform, Trader Area, or our services. You continuously indemnify the Company against all Loss, liabilities, judgments, suits, actions, proceedings, claims, damages, and costs resulting from or arising out of any act or omission by any person using the Trading Platform, Trader Area by using your designated passwords, whether or not you authorized such use.

14.1.3. We are not liable for any action we may take under these Terms and Conditions, so long as we act within the terms of its provisions and, in particular, any litigation is commenced involving both you and the Company that places the Company in an adversarial position, and in view of the subject matter of or any issues in dispute to that litigation we decide that we cannot continue to deal with you while the litigation is pending;

14.1.4. While we have taken reasonable measures to ensure the accuracy of the information on our Website, Trading Platform, or in our software, we do not, however, guarantee its accuracy and will not accept liability for any loss or damage that may arise directly or indirectly from the content.

14.1.5. We are not liable for anything which is beyond our control and the effect of which is beyond our control to avoid;

14.1.6. We are not liable for any government restriction, exchange or market rulings, suspension of trading, device or telephone failure, unlawful access to the Trading Platform, theft, sabotage, war, earthquakes, strike, Force Majeure Event, and without limitation, any other conditions beyond our control.

15. TERMINATION

15.1. This Agreement shall continue in effect until termination, and may be terminated by Customer at any time upon three days prior written notice (which may be by email) when Customer has no Forex, CFDs, Options and Spread Betting position(s) and no liabilities held by or owed to AxisFx upon the actual receipt by AxisFx at its home office of written notice of termination, or at any time whatsoever by AxisFx upon the transmittal of written notice of termination to Customer; provided, that such termination shall not affect any transactions previously entered into and shall not relieve either party of any obligations set out in this agreement nor shall it relieve Customer of any obligations arising out of any deficit balance.

16. LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES

16.1. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by AxisFx, (d) insufficient margin, or AxisFx’s determination that any collateral deposited to protect one or more accounts of Customer is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement or any applicable law; or (f) any abuse of trading practices, manipulations and/or fraud by Customer or any other person authorized to use the account; or (g) any other circumstances or developments that we deem appropriate for its protection, and in AxisFx’s sole discretion, it may take one or more, or any portion of, the following actions:

16.1.1. Satisfy any obligation Customer may have to us, either directly or by way of guaranty of suretyship, out of any of Customer’s funds or property in AxisFx’s custody or control;

16.1.2. Sell any or purchase any or all Currency contracts, securities held or carried for Customer; and

16.1.3. Cancel any or all outstanding orders or contracts, or any other commitments made on behalf of Customer.

16.2. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others.

16.3. Prior demand or notice of sale or purchase shall not be considered a waiver of AxisFx’s right to sell or buy at any time in the future without demand or notice as provided above.

16.4. In liquidation of Customer’s long or short positions, AxisFx may, in its sole discretion, offset in the same settlement or it may initiate new long or short positions in order to establish a hedge which in AxisFx’s sole judgment may be advisable to protect or reduce existing positions in Customer’s account.

16.5. Any sales or purchases hereunder may be made according to AxisFx’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, and AxisFx may purchase the whole or any part thereof free from any right of redemption.

16.6. For Customer’s protection, Equity or Net Liquidation Value of the Customer’s trading account drops below the Minimum Margin Requirement, all of Customer’s open transactions shall be automatically closed, whether at a loss or a profit.

16.7. If the amount in Customer’s trading account is less than zero, Customer shall promptly notify AxisFx and AxisFx shall nullify the account.

16.8. Neither AxisFx nor any of its subsidiaries, affiliates or agents shall be responsible for any loss or damage caused due to closing of positions in accordance with the above.

16.9. Customer shall at all times be liable for the payment of any deficit balance of Customer upon demand by AxisFx and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the event of the liquidation thereof in whole or in part by AxisFx or by Customer.

16.10. In the event the proceeds realized pursuant to this authorisation are insufficient for the payment of all liabilities of Customer due to AxisFx, Customer shall promptly pay upon demand, the deficit and all unpaid liabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at AxisFx’s principal bank or the maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like.

16.11. In the event AxisFx incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses.

17.Acknowledgment of Risks

17.1. When the Client trades CFDs with the Company, the Client will be entering into an off exchange (OTC) derivative transaction, by placing his orders through the Company’s trading platform. OTC transactions may involve greater risk than investing in on-exchange derivatives because there is no exchange market on which to close out an open position. The Client needs to open and close a position with the Company that is not transferable to any other person. In this case, the client may be exposed to the risk of the Company default.

17.2. Contracts for difference, options, futures, swaps, forward rate agreements and many other derivatives (including most put options) are leveraged products and involve a high level of risk. It is possible for the Client to lose all his capital invested. Therefore, these products may not be appropriate or suitable for everyone and the Client should ensure that he understands the risks involved. The Client will not be required to cover losses exceeding his invested capital as the Company applies a negative balance protection policy. If the Client considers that he is not properly able to understand the investment risks involved he should seek independent advice.

17.3. The Client unreservedly acknowledges and accepts that, regardless of any information, which may be offered by the Company, the value of any investment in Financial Instruments may increase or decrease and there is a substantial risk that the investment may become of no value. In the case of Financial Instruments which are contracts for differences or other contractually based derivatives the entire amount of margin deposit may be lost.

17.4. The Client acknowledges that the Company has not solicited, or in any other way recommended his/her participation in trading with the Company pursuant to any particular trading system, and that the Client has made inquiries and conducted research sufficient to make an informed investment decision.

17.5. Client unreservedly acknowledges and accepts that he runs a great risk of incurring losses as a result of purchasing and/or selling any Financial Instrument and the Client accepts and declares that he is willing to undertake this risk.

17.6. The Client acknowledges and accepts that the Company does not provide any investment advice. The Company is not acting as an advisor to, or serving as a fiduciary of, the Client, and the Company specifically disclaims any such duties.

17.7. The Company’s services include products that are traded on margin and carry a risk of losing all client’s initial deposit. Before deciding on trading on margin products a Client should consider his/her investment objectives, risk tolerance and his/her level of experience on these products. Margin products may not be suitable for everyone and Client should ensure that he/she understands the risks involved. The Client should be aware of all the risks associated in regard to products that are traded on margin and seek independent financial advice, if necessary.

18. ROLLOVER AND SWAPS

18.1. Positions will be rolled over by debiting or crediting your account with an amount calculated using interest rate differentials between currencies and/or the swap rates applied by our liquidity providers. Daily swap rates are not fixed and can be changed by us, without prior notice, in line with prevailing market conditions. It is your responsibility to check our website and our trading platforms, especially the information on contract specification and contract details, for instruments you are trading, to ensure you are aware of any changes made to daily swap rates. In case of any discrepancy between the information displayed on our website and within our trading platforms, the information within the trading platforms shall prevail.

19. DISCLAIMER OF WARRANTIES / LIMITATION OF LIABILITY

Representations and warranties are personal statements, assurances or undertakings given by you to us on which we rely when we deal with you. You make the following representations and warranties at the time you enter into this Agreement, and you will also be deemed to make them before every Transaction or any time you give us any other instruction:

19.1. if you are an individual, you are over 18 years old and you have full capacity to enter into this Agreement;

19.2. you have all necessary authority, powers, consents, licenses and authorisations and have taken all necessary action to enable you lawfully to enter into and perform this Agreement and such Transaction and to grant the security interests and powers referred to in this Agreement;

19.3. the persons entering into this Agreement and each Transaction on your behalf have been duly authorized to do so;

19.4. this Agreement, each Transaction and the obligations created under them both are binding upon you and enforceable against you in accordance with their terms (subject to applicable principles of law) and do not and will not violate the terms of any regulation, order, charge or agreement by which you are bound;

19.5. no Event of Default or Potential Event of Default has occurred and is continuing with respect to you;

19.6. you are acting on your own behalf (unless we have agreed otherwise in writing) and not as trustee in entering into this Agreement and each Transaction;

19.7. any information which you provide or have provided to us in respect of your financial position, domicile or other matters is accurate and not misleading in any material respect;

19.8. you are willing and financially able to sustain a total loss of funds resulting from a Transaction; and

19.9. except as otherwise agreed by us, you are the sole beneficial owner of all Margin you transfer under this Agreement, free and clear of any security interest whatsoever other than a right to withhold or dispose of assets routinely imposed on all securities in a clearing system in which such securities may be held.

20. MARKET RECOMMENDATIONS AND INFORMATION

20.1 Customer acknowledges that:

20.1.1. Any market recommendations, signals and information communicated by any method of communication to Customer by company and any of its subsidiaries, affiliates, agents or by any person within company does not constitute an offer to sell or the solicitation of an offer to buy any OTC contract, and that company does not provide investment advice.

20.1.2. Such recommendation and information, although generally based upon information obtained from sources believed by company to be reliable, may be based solely on a broker’s opinion and that such information may be incomplete and may be unverified, and

20.1.3. company makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or market recommendation furnished to Customer and shall not be responsible for any loss or damage including without limitation any loss of margin or profits which may arise directly or indirectly from use or reliance on such recommendations or information.

20.2. Customer understands that Customer is solely responsible for assessing the merits and risks of any trade it may enter into with the company whether as a result of information provided by the company or otherwise.

20.3. Customer acknowledges that company and/or its officers, directors, affiliates, associates, stockholders or representatives may have a position in or may intend to buy or sell Forex, CFDs, Options and Spread Bets, which are the subject of market recommendations furnished to Customer, and that the market position of company or any such officer, director, affiliate, associate, stockholder or representative may not be consistent with the recommendations furnished to Customer by company.

20.4. Customer acknowledges that company makes no representations concerning the tax implications for treatment of any trading activity.

21. ANTI MONEY LAUNDERING LEGISLATION

21.1. The Client acknowledges and agrees that the Company may require information from the Client from time to time to comply with the Anti-Money Laundering (AML) Legislation. By opening the Trading Account or transacting, the Client undertakes to provide the Company with all information, documents, and assistance that we may require to comply with the AML/Counter-Terrorism Financing (CTF) Laws.

21.2. We may pass on information documents collected from you and relating to transactions as required by the AML/CTF Laws or other Applicable Laws and regulations and are under no obligation to inform you we have done so. We may undertake all such anti-money laundering and other checks in relation to you (including restricted lists, blocked persons, and countries lists) as deemed necessary or appropriate by us, and we reserve the right to take any action with regard thereto with no liability whatsoever, therefore. For more information, please refer to our AntiMoney Laundering Policy.

21.3. You also warrant that you are not aware and have no reason to suspect that the money used to fund your transactions has been or will be derived from or related to any money laundering, terrorism financing, or other illegal activities, whether prohibited under Applicable Laws, international law, or convention or by agreement; or your proceeds will be used to finance any illegal activities.

21.4 Different customer profiles have different levels of risks attached to them. A basic Know your Customer (KYC) check can establish the risk posed by a customer. For example, near-retired individuals making small, regular contributions to a savings account in line with their financial details poses less of a risk than middle-aged individuals making ad-hoc payments of ever-changing sizes into a savings account that does not fit into the profile of the customers’ standing financial data. The intensity of the due diligence conducted on the latter would be higher than that carried out on the former as the potential threat of money laundering in the second case would be perceived as being greater. Corporate structures can be used as examples of customers that could carry a higher risk profile than the one just seen, as these can be used by criminals to introduce layers within transactions to hide the source of the funds, and like that, clients can be categorized into different risk bands.

Product Risk

21.5. This is the risk posed by the product or service itself. The product risk is driven by its functionality as a money laundering tool.

21.6. The Joint Money Laundering Steering Group has categorized the products with which Firms typically deal into three risk bands – reduced, intermediate and increased. Typically, pure protection contracts are categorized as reduced risk and investments in unit trusts as increased risk. Additionally, a factor that will contribute to the classification of the risk category is the sales process associated with the product. If the transaction in the product takes place on an advisory basis as a result of a KYC, this will carry less risk than an execution only transaction, whereby you know significantly less about the customer.

21.6.1. The geographic location of the client or origin of the business activity has a risk associated with it, this stems from the fact that countries around the globe have different levels of risk attached to them.

21.6.2. A firm would determine the extent of their due diligence measure required initially and on an ongoing basis using the above four risk areas.

21.6.3. Customer identification program company has adopted a Customer Identification Program (CIP). company will provide notice that they will seek identification information;

21.6.4. collect certain minimum customer identification information from each customer, record such information and the verification methods and results.

Identification

21.7. The standard identification requirement for customers who are private individuals are generally governed by the circumstances relating to the customer and the product type that is being dealt in, i.e. the level of risk attributed to the product whether it is a reduced risk, intermediate risk or an increased risk product. Taking that into account for reduced risk and intermediate risk products the following pieces of information are required as a standard for identification purposes:

21.7.1 Full Name

21.7.2 Residential Address

Verification

21.8. Verification of the information obtained must be based on reliable and independent sources – which might either be documents produced by the customer, or electronically by the firm, or by a combination of both. Where business is conducted face-to-face, firms should see originals of any documents involved in the verification.

21.9. If documentary evidence of an individual’s identity is to provide a high level of confidence, it will typically have been issued by a government department or agency, or by a court, because there is a greater likelihood that the authorities will have checked the existence and characteristics of the persons concerned. In cases where such documentary evidence of identity may not be available to an individual, other evidence of identity may give the firm reasonable confidence in the customer’s identity, although the firm should weigh these against the risks involved.

Suspicious activity

21.10. There are signs of suspicious activity that suggest money laundering. These are commonly referred to as ‘red flags’. If a red flag is detected, additional due diligence will be performed before proceeding with the transaction. If a reasonable explanation is not determined, the suspicious activity shall be reported to the AML Compliance Committee.

21.10.1. Examples of red flags are:

21.10.1.1. The customer exhibits unusual concern regarding the firm’s compliance with government reporting requirements and the firm’s AML policies, particularly with respect to his or her identity, type of business and assets, or is reluctant or refuses to reveal any information concerning business activities, or furnishes unusual or suspect identification or business documents.

21.10.1.2. The customer wishes to engage in transactions that lack business sense or apparent investment strategy, or are inconsistent with the customer’s stated business strategy.

21.10.1.3. The information provided by the customer that identifies a legitimate source for funds is false, misleading, or substantially incorrect.

21.10.1.4. Upon request, the customer refuses to identify or fails to indicate any legitimate source for his or her funds and other assets.

21.10.1.5. The customer (or a person publicly associated with the customer) has a questionable background or is the subject of news reports indicating possible criminal, civil, or regulatory violations.

21.10.1.6. The customer exhibits a lack of concern regarding risks, commissions, or other transaction costs.

21.10.1.7. The customer appears to be acting as an agent for an undisclosed principal, but declines or is reluctant, without legitimate commercial reasons, to provide information or is otherwise evasive regarding that person or entity.

21.10.1.8. The customer has difficulty describing the nature of his or her business or lacks general knowledge of his or her industry.

21.10.1.9. The customer attempts to make frequent or large deposits of currency, insists on dealing only in cash equivalents, or asks for exemptions from the firm’s policies relating to the deposit of cash and cash equivalents.

21.10.1.10. For no apparent reason, the customer has multiple accounts under a single name or multiple names, with a large number of inter-account or third-party transfers.

21.10.1.11. The customer’s account has unexplained or sudden extensive activity, especially in accounts that had little or no previous activity.

21.10.1.12. The customer’s account has a large number of wire transfers to unrelated third parties inconsistent with the customer’s legitimate business purpose.

21.10.1.13. The customer’s account has wire transfers that have no apparent business purpose to or from a country identified as money laundering risk or a bank secrecy haven.

21.10.1.14. The customer’s account indicates large or frequent wire transfers, immediately withdrawn by check or debit card without any apparent business purpose.

21.10.1.15. The customer makes a funds deposit followed by an immediate request that the money be wired out or transferred to a third party, or to another firm, without any apparent business purpose.

21.10.1.16. The customer makes a funds deposit for the purpose of purchasing a long-term investment followed shortly thereafter by a request to liquidate the position and transfer the proceeds out of the account.

21.10.1.17. The customer requests that a transaction be processed in such a manner to avoid the firm’s normal documentation requirements.

22. Know your customer – the basis for recognizing suspicions

22.1. A suspicious transaction will often be one which is inconsistent with a customer’s known, legitimate business or personal activities or with the normal business for that type of customer. Therefore, the first key to recognition is knowing enough about the customer’s business to recognize that a transaction, or series of transactions, is unusual.

22.2. Questions you must consider when determining whether an established customer’s transaction might be suspicious are:

22.2.1. Is the size of the transaction consistent with the normal activities of the customer?

22.2.2. Is the transaction rational in the context of the customer’s business or personal activities?

22.2.3. Has the pattern of transactions conducted by the customer changed?

Suspicious scenarios

22.3. Issues which should lead you to have cause for suspicion would include:

22.3.1. Clients who are reluctant to provide proof of identity;

22.3.2. Clients who place undue reliance on an introducer (they may be hiding behind the introducer to avoid giving you a true picture of their identity or business);

22.3.3. Requests for cash related business, for example questions about whether investments can be made in cash, suggestions that funds might be available in cash for investment;

22.3.4. Where the source of funds for investment is unclear;

22.3.5. Where the magnitude of the available funds appears inconsistent with the client’s other circumstances (i.e. the source of wealth is unclear). Examples might be students or young people with large amounts to invest;

22.3.6. Where the transaction doesn’t appear rational in the context of the customer’s business or personal activities. Particular care should be taken in this area if the client changes their method of dealing with you without reasonable explanation;

22.3.7. Where the pattern of transactions changes; Where a client who is undertaking transactions that are international in nature does not appear to have any good reason to be conducting business with the countries involved (e.g. why do they hold monies in the particular country that the funds are going to or from? Do their circumstances suggest that it would be reasonable for them to hold funds in such countries?);

22.3.8. Clients who are unwilling to provide you with normal personal or financial information, for no apparent or rational reason. (Care should be taken not to include all distance relationships as suspicious, because most will be for genuine reasons. Suspicions will ordinarily be based upon cumulative as opposed to stand alone issues)

22.4. A money launderer is likely to provide persuasive arguments about the reasons for their transactions. Those should be questioned to decide whether a transaction is suspicious.

Reporting a Suspicion

22.5. Where, for whatever reason, we suspect that a client, or anybody for whom they are acting, may be undertaking (or attempting to undertake) a transaction involving the proceeds of any crime it must be reported as soon as practicably possible and in writing.

22.6. Internal reports must be made regardless of whether any business was, or is intended to be, actually written.

Investigation

22.7. Upon notification to the AML Compliance Committee an investigation will be commenced to determine if a report should be made to the appropriate law enforcement or regulatory agencies. The investigation will include, but not necessarily be limited to, review of all available information, such as payment history, birth dates, and address. If the results of the investigation warrant, a recommendation will be made to the AML Compliance Committee to file the SAR with the appropriate law enforcement or regulatory agency. The AML Compliance Committee is responsible for any notice or filing with law enforcement or regulatory agency.

22.8. Investigation results will not be disclosed or discussed with anyone other than those who have a legitimate need to know. Under no circumstances shall any officer, employee or appointed agent disclose or discuss any AML concern, investigation, notice or SAR filing with the person or persons subject of such, or any other person, including members of the officer’s, employee’s or appointed agent’s family.

Freezing of accounts

22.9. Where we know that the funds in an account derive from criminal activity, or that they arise from fraudulent instructions, the account must be frozen. Where it is believed that the account holder may be involved in the fraudulent activity that is being reported, then the account may need to be frozen.

23. CONSENT TO ELECTRONIC SIGNATURE

23.1. By electronically signing AxisFx’s General T&C agreement and related documents, Customer acknowledges receipt of the customer account letter, customer agreement and other documents contained as part of Company’s electronic account package and Customer agrees to be bound by their terms and conditions.

23.2. In addition, by signing AxisFx’s account agreement and related documents, Customer is consenting to AxisFx maintaining and Customer receiving electronic records of Customer’s trades and accounts.

24.AMENDING THESE TERMS AND CONDITIONS

24.1. The Company has the right to amend these Terms and Conditions and the Client Agreement. All changes shall be effective in accordance with the day of their publication on the Website and shall apply to all open Positions and unfilled Orders, after the effective date of the changes. Company will provide notice to Customer of any such amendment or change by posting the amendment or change on AxisFx’s website or by sending an e-mail message to Customer at least 7 days before it takes effect. If the client does not accept the amendment, the Trading Account shall be suspended, and the Client shall be required to close the Trading Account as soon as reasonably practicable.

24.2. You understand that these Terms and Conditions cannot be modified by you via any verbal statements or written amendments without written acceptance or confirmation by us.

25. AGREEMENT

25.1. This Agreement together with all references to Company’s policies and procedures made in this Agreement, and together with the Risk Disclosure Statement and Privacy Statement embodies the entire agreement between AxisFx and the Customer, superseding any and all prior written and oral agreements.

26. ASSIGNMENT

26.1. Customers may not assign or transfer any of its rights or obligations under this Agreement to a third party without the prior written consent of the Company. Any attempted assignment or transfer in violation of the foregoing will be void. The company (AxisFx) may freely assign this Agreement.

27. GOVERNING LAW AND JURISDICTION

27.1. This Agreement, the rights and obligations of the parties hereto, and any judicial or administrative action or proceeding arising directly or indirectly hereunder or in connection with the transactions contemplated hereby shall be governed by, construed and enforced in all respects in accordance with the laws of SVG and AxisFx.

28. BINDING EFFECT

28.1. This Agreement shall be continuous and shall cover, individually and collectively, all accounts of Customer at any time opened or reopened with the company irrespective of any change or changes at any time in the personnel of the company (AxisFx) or its successors, assigns, subsidiaries, affiliates or agents.

29.INSTRUCTIONS AND COMMUNICATIONS

29.1. The Company may require further instructions from the Client in respect of any Contracts or proposed Contracts, and if we do, the Client must promptly provide the Company with that information. If the Client does not, we may, at our absolute discretion, take all such steps at your cost as we consider necessary or desirable for our or your protection. This does not detract from your responsibility to keep yourself informed at all times as to the key dates and events affecting your Contracts.

29.2. Any notice or any other communication to be provided by the Company, including Trading Account statements, may, at the Company’s discretion, be sent in electronic form via email or by display on the Trading Platform. The Client is obliged to provide the Company with an email address for this purpose. An email is considered received when sent from the Company.

29.3. The Company is not responsible for any delay, alteration, redirection, or any other modification an email or other message may undergo after transmission from the Company. A message on your Trading Account on the Trading Platform is considered received by you when the Company has placed the message on the Trading Platform. It is your responsibility to ensure that your software and hardware setup does not prevent you from receiving emails or accessing the Trading Platform.

30. SWAP FREE ACCOUNTS ( INTEREST FREE ACCOUNTS )

30.1. In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by AxisFx, its trading account to be an swap free Account, which is not charged with, or entitled to, overnight interest and/or rollovers.

30.2. In the event that Customer designates its account as a swap free, Customer may not keep transactions in such account open for more than 30 days and may not otherwise abuse such benefit.

30.3. AxisFx reserves the right to cancel the aforesaid benefit at any time and take any action necessary in the company’s absolute discretion due to abuse of this benefit.

30.4. Such actions may include, without limitation, the designation of the swap free account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by AxisFx as interest), cancellation of transactions, and adjustment of account balances.

CUSTOMER ACKNOWLEDGES HAVING RECEIVED, READ AND UNDERSTOOD THE FOREGOING CUSTOMER AGREEMENT AND HEREBY AGREES TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS HEREOF.

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