INFINITY ECN

Menu
Log In

Client Agreement

 

Preamble:

This agreement has been prepared between Infinity ECN Investment House Company, providing brokerage services for direct trading in Forex, metals, and commodities for individuals and companies outside the State of Kuwait (a limited liability company), with its address at Sharq – Ahmed Al Jaber Street – Al Jaz Tower – 8th Floor, hereinafter referred to as the Company or (First Party), and the client who filled out the account opening application form and is considered a client of the company whose request has been accepted by the company, and who will be referred to in this contract as the Client or (Second Party).

This agreement, in addition to other legal documents, including any supplements or amendments thereto, defines the terms and conditions related to the service provided by the company to the client. It also regulates and governs the relationship between both parties and the client upon submission of the account opening request. The client acknowledges that they have reviewed and agree to these terms and conditions. It is the client’s duty to review this document and they acknowledge that they have read and understood everything contained within it and that they will remain informed of any amendments, whether published on the company’s website or communicated to the client by any other means. The client also acknowledges that they have reviewed all other legal documents related to the company’s activities before starting to register on the company’s website or entering into any transactions through the company. The official language for the official document is Arabic only, and any translation is for informational purposes only. The document written in Arabic will be the reference for resolving any dispute. If there are company employees who are proficient in the client’s native language, this does not in any way mean that the written communication language must be changed, as the primary written communication language is Arabic, and the company has the right to communicate in any other language. For the purposes of the above, the definitions will be organized according to the following principles:

Definitions:

  • Client: Any natural or legal person who deals with the company in the field of trading.

  • Company: Infinityecn Company.

  • Agreement: This agreement, in addition to the legal documents available on the company’s website and any amendments that may occur, whether the client has been notified or not, as long as they are on the platform or the company’s website.

  • Agent: Any person authorized by the client to act on their behalf or represent them in entering into transactions with the company.

  • Affiliated Company: Any entity or company controlled by the company… whether this control is direct or indirect.

  • Business Days: All days of the week except Friday and Saturday, and any official holidays determined by the company’s host country.

  • Account Credentials: The password and username accepted by the company as unique marks for each client to enable them to access and use the trading platforms through the company’s website.

  • Base Currency: The first currency in a currency pair that the client buys or sells for the quote currency in a foreign currency contract.

  • Financial Institutions: Banks, banking institutions, commercial institutions, and licensed intermediary institutions dealing with financial transactions.

  • Dealing in Securities: Means dealing with or offering to any person to enter into transactions to obtain or subscribe to securities, or to deposit funds with any licensed association or institution, or any agreement aimed at providing a profit to one of the parties resulting from a decrease in the value of securities.

  • Financial Data: Market data, price quotes, charts, and information available through the trading platforms.

  • Financial Intelligence Unit: The unit established according to the provisions of anti-money laundering laws and regulations.

  • Currency Pair: The underlying asset consisting of two currencies, which shows the amount of the quote currency required to buy one unit of the base currency.

  • Foreign Currency Contract: A contract for differences (CFD) whose underlying asset is a currency pair.

  • Intellectual Property Rights: Any rights intended to protect creative ideas as defined by intellectual property laws and regulations.

  • Initial Margin: The minimum amount of money required in the client’s account to open a trading transaction.

  • Maintenance Margin: The minimum amount of money required in the client’s account to keep a transaction open and valid for trading.

  • Market Order: An order executed at the best available price in the market according to the company’s view.

  • Open Position: A contract that has not been closed.

  • Quotation/Pricing: The current price of a specific underlying asset according to the trading platforms.

  • Order: The instructions received from the client for trading.

  • Quote Currency: The second currency in the currency pair that the client sells or buys against the base currency.

  • Pip: In CFD transactions with underlying assets priced in… it means four decimal places in one-hundredth of a percentage point, and in basic CFD transactions it means two decimal places, meaning one percentage point.

  • Services: Any services provided by the company to the client, including any access to enter into transactions.

  • Execution Slippage: Represents the difference between the expected or desired price for a transaction and the price at which the transaction is executed in the market.

  • Scalping: The situation in which a client opens a large number of positions in CFDs and closes them within a period of less than 8 minutes or buys at the bid price and sells at the ask price.

  • Position: The client’s position with regard to any open currencies or contracts in the client’s trading account.

  • Client Data: The data requested by the company’s website to complete the client registration process.

  • Price Margin/Spread: The difference between the bid and ask for an underlying asset in foreign currencies and CFDs at the same moment.

  • Trading Account: The client’s account consisting of all the client’s open positions, orders, and balance.

  • Trading Platform: Software, databases, technical facilities, and devices for the purpose of trading and entering into transactions.

  • Swap: The interest added or deducted for keeping a position open overnight.

  • Trailing Stop: A stop-loss order at a percentage level lower than the market price in long positions.

  • Trading Hours: The hours during which transactions and trading in assets are conducted as determined by the trading platform.

General Trading Conditions:

The trading platform is personal and may not be used by third parties except with a valid authorization from the company and at the client’s responsibility and in their name. The client’s acceptance by the company means that they are granted a personal, revocable license for their personal use only, without the right to assign, sell, or transfer it or any part of it to others.

Client’s Duties:

  • The client must provide suitable computer equipment and internet connection for trading and entering into transactions. They are responsible for keeping them in working order, including providing electricity sources and internet connection sources, and keeping these devices safe from any security breaches or malfunctions.

  • The client is responsible for understanding the trading mechanisms and the ability to deal in financial transactions.

  • The client is responsible for maintaining the trading platform and the personal nature of this platform. They are prohibited from disposing of it to others, whether in whole or in part, and are prohibited from transferring any part of it to others.

  • The client understands that the company does not provide a guarantee or insurance for profit or non-loss, as the company’s commitment is to provide and facilitate the trading service to the client.

Prohibitions for the Client, which they are not permitted to do, are as follows:

  • Account credentials, including the password, are private data of the client, who is responsible for protecting them and is not permitted to provide them to others.

  • Using the trading platforms in bad faith or using them to commit any criminal act, or using them for any purpose other than the one for which they were created.

  • Disrupting the software designated for trading. It is also prohibited to engage in trading that includes placing stop-buy or stop-sell orders before the release of financial data. It is also prohibited to buy artificial speculations, manipulate prices, take advantage of trading benefits, or misuse the trade cancellation feature available on the platform. It is also prohibited to use artificial intelligence analysis programs without prior permission from the company.

  • It is prohibited to upload or download files protected by patents and intellectual property rights without written permission from the company’s website.

  • The client may not use any program whose purpose is to monitor, cancel, damage, or intercept any communication to the platform.

  • Using any viruses or any kind of hacking against the company’s trading platform or its communication systems.

  • Performing any action that affects the integrity of the company’s systems or computers.

  • Performing illegal login to the trading platforms or fraudulently logging in from a location that violates the agreed-upon and sent data to the company.

  • Sending a large number of requests to the company’s servers with the aim of delaying order execution.

  • The client is warned against attempting unauthorized access to the company’s systems or any part of the trading platforms.

  • Performing any action that may prevent other users from accessing the platform.

  • Transferring any material that is illegal, incites discord, or violates morals of any kind.

  • Downloading or copying the trading platform.

In the event that the client commits any of the above prohibitions or the company has reasonable grounds to believe that they have done so, the company has the right to take countermeasures that may amount to canceling the client’s account as the company decides.

In addition to refraining from the above-mentioned prohibitions, the company’s client undertakes to do the following:

  • Use the login credentials for the trading platform personally.

  • Register all personal and basic data correctly without intentionally making any errors, alterations, misrepresentations, or inaccuracies in the data.

  • Provide the company with the necessary data at any stage when requested to provide additional data.

  • Inform the company of any changes to their financial or personal data.

  • Update their data when necessary.

  • Use their account on the platform securely and for the specified purpose.

  • The client agrees and acknowledges, upon entering the trading platform, that the company may use the data provided by the client within its software, analyze this data, and use it in an appropriate manner according to the privacy policy on the company’s website. They also authorize the company to use the information to send data to the client’s device and acknowledge the company’s right to execute any request according to the conditions actually received by the company.

  • The client authorizes the company to perform checks of the client’s financial and credit status at any stage and at any time.

  • The client authorizes the company to freeze the account if there are serious reasons for the company to believe that there is illegal activity. They also undertake to immediately modify the account credentials as soon as they are notified by the company by any means of a security breach to their account.

  • The client is responsible for immediately and without delay notifying the company of any breach of their account or if the account is exposed to danger in any way.

  • In the event that the client fails to meet the required account care requirements, or fails to complete or update the data as desired by the company, the company has the right to return any deposited funds to the same source from which they originated, close the client’s account, and/or terminate their relationship with the company.

Account Registration and Confidentiality Mechanism:

After the client has registered their basic data and completed the account opening transaction, and upon being accepted as a certified client by the company and an account being opened in their name, they will be able to place orders on the company’s trading platform on the various trading accounts that the client’s financial coverage and margin allow.

It is understood by the client that they are responsible for the confidentiality of their data and are not permitted to share it with anyone, and that they are obligated to enter the login name and password when entering the trading platform.

  • The client agrees that the company may freeze or cancel the account if the company has information from reliable sources that a breach has occurred to the client’s account.

  • The client undertakes to defend and/or compensate and/or indemnify the company against any claim, lawsuit, or loss resulting from the latter’s misuse of the trading platform.

  • The client acknowledges the company’s right to change or add the services provided under the agreement after notification in accordance with the provisions of this agreement.

Services Provided by the Company:

The company provides transactions in securities and financial instruments in accordance with the terms and conditions contained in this agreement and other legal documents on the company’s website and any amendments thereto. In particular, the company provides the client with access to trading platforms, technical analysis facilities, and information service providers affiliated with the company and/or other persons for the purpose of accessing trading platforms and entering into transactions related to securities and financial instruments.

  • It also aims to provide access to internet services and computer software to establish communications with the company or any approved service providers to access information that is of interest to the client in trading, including price quotes.

Intellectual Property Rights:

All data, offers, and terms of the agreements contained on the company’s website and the trading platform are the property of the company. The client therefore acknowledges that they will not download, copy, record, translate, or quote any part of the site or the platform, especially with regard to trademarks. They also acknowledge that they will not attempt to deduce the source codes of the trading platform or disassemble them. They also undertake not to harm or prejudice any of the company’s intellectual property rights.

  • The client shall not contest the company’s ownership of the trading platform, any trademarks contained therein, or any intellectual property rights or goodwill it may have. To that end, the client agrees not to permit the creation of any financial data or transactions for the purpose of conducting fraudulent or illegal activities.

  • They also refrain from renting, time-sharing, or allowing a third party to use the platform through their own account.

  • The client also refrains from attempting to bypass the technical and technological restrictions on the platform or affecting any functions that are disabled on the platform using any method.

Technical Consultations:

The client understands that the company’s duty is limited to providing and facilitating trading and facilitating the conclusion of transactions for the client, in addition to any other services that may be agreed upon later between the company and the client. The approved method for this agreement is writing.

  • The company is not obligated to monitor, check, or review the client’s investments.

  • The client understands that the company will not provide any advice related to transactions concluded through the platform, and the company’s execution of any buy, sell, or offer order, etc., does not constitute a recommendation from the company to carry out this transaction. Any information or communications from the company do not constitute advice on that transaction or an obligation for the client to carry it out.

  • The client acknowledges that they are capable of carrying out transactions and recommendations, and also have the ability to evaluate any transaction or offer according to their circumstances and to assess the suitability of this transaction or offer with their aspirations and hopes for profit from it.

  • It is agreed that the company will not grant a credit transaction or provide a recommendation to the client regarding transactions unless otherwise agreed upon in writing.

  • The company does not have the position of advisor to the client, and therefore will not bear any burden to provide them with any tax, legal, or commercial advice of any kind.

  • Although the company may from time to time provide the client with information, news, market data, or analysis, this is not considered a periodic obligation on its part. The company will not be responsible for the accuracy or completeness of this information, as the purpose of this information is to help the client make their decisions and does not constitute any obligation or advice from the company. The company does not guarantee that this information will reach other clients or beneficiaries at the same time. The client also acknowledges their commitment not to transfer, copy, or distribute this information.

Restriction on Use by Minors:

The international investment laws, regulations, and agreements and the company’s regulations do not permit minors to trade through financial securities and instruments trading platforms. Therefore, the company prohibits anyone under the age of 21 from carrying out any transactions through its platforms.

The company also prohibits persons with impaired or lost capacity from trading through its platforms, within the information available to the company regarding the age of clients, and reserves the right to cancel the registration of any account whose owner is proven to have violated this clause.

Conflict of Interest:

The client understands that the company provides trading platforms to other parties and acknowledges that they have no right to prevent it from providing these services, even if this conflicts with their interests.

  • If there is a third-party program embedded in the company’s platform, the company does not provide any guarantee or warranty for the third party’s licenses or software, as this is guaranteed only by the third party’s licenses.

  • The company has the right to accept or refuse the registration of any client or account opening applicant, as well as to cancel the registration of any account without giving reasons, without prejudice to the rights obtained or the amounts paid by them.

  • In the event of a conflict of interest, the company must deal fairly with all its clients, which is represented by disclosing its rules while maintaining data confidentiality and transaction confidentiality. The company will not place its interest in a higher position than the clients’ interests in an unfair manner.

  • The company will not perform any transaction that conflicts with the duty of care due to the client unless it clarifies this conflict to the client and the client agrees to it.

Emergency Closure of the Platform:

The company has the right from time to time to add, modify, or cancel any part of the trading platform, whether for maintenance purposes, routine server construction, or for any emergency, provided that the company gives a 48-hour notice to clients if possible. However, not receiving such a notice does not constitute a breach of the company’s obligations under this agreement.

Communications:

The company can communicate with the client by all means, including fixed or mobile phone, fax, email, regular mail, or any other means of communication that the company deems appropriate.

  • The client acknowledges the validity of the contact data they provided to the company and that they are responsible for its integrity and for notifying the company of any updates or changes that occur to it. The company’s sending of any mail to the address it has is considered a sufficient effort.

  • The client agrees to the recording of telephone conversations between the client and the company and the retention of these recordings by the company. The client also agrees to the scanning of documents sent by fax or any other means of communication and their storage in the manner the company deems appropriate and acknowledges the company’s right to use them as evidence of the transactions between the two parties.

Margin:

The client undertakes to provide the initial margin in their private account and to ensure the continuity of the maintenance margin. They acknowledge the company’s right to determine the amount and total number of open or permitted transactions on the trading platform in the client’s account according to the company’s view, estimates, and calculations of the client’s solvency.

  • It is understood that the company has the right to change the margin requirements (whether maintenance margin or initial margin) without notifying the client. The client must provide the margin limits in their credit portfolio, and the company may apply its solvency requirements to open or new positions. The client is solely responsible for monitoring the amount deposited in their trading account and ensuring that the amounts meet the margin limits.

  • The company is not obligated to cover the client’s margin or provide them with credit or loans. It has the right to warn the client of a low margin percentage and set a time limit for them to cover this margin. The client must, during that period, deposit funds into the trading account that raise the margin percentage.

  • In the event that the client is unable to meet the margin requirements after being given an opportunity and a time period determined by the company, the open position or positions will be closed according to the trading policy in global markets based on margin trading policy.

  • It is understood that the existence of more than one trading account for the same client means that each account has its independence and is treated separately from the other. No balance existing in an account may be considered related to any other trading account, as the client is obligated to provide the margin level for the account independently of the other accounts.

  • The margin is paid in cash and in the currency of the trading account or any other currency determined by the company.

General Trading Principles:

The company arranges the execution of the client’s orders placed on the trading platform, where the company executes the orders it receives within a reasonable speed.

  • Transactions consist of an offer made by the client to the company to complete a transaction, whether to open or close a position at a specific price. However, the offer is not complete until the offer is received and accepted by the company. There is no clear acceptance except through the company’s confirmation of its terms.

  • A transaction cannot be canceled or modified after it has been completed. However, the company has the right to void or cancel any transaction that contains a clear error or if the company has a serious belief that there is fraud or suspicion in the transaction. The company will not be responsible for any loss or cost resulting from an error – whether of the client or others – that it reasonably believes to be a clear or tangible error, such as offers to execute transactions for exaggerated volumes of underlying assets, or with incorrect market price quotes, or prices that contain a clear loss, or what is known as a clear error.

  • Every position the client opens and every completed transaction created at their request is binding on the client.

  • The client may request a price quote to open or close a position for a specific underlying asset during the trading hours of that underlying asset. The company may provide a price quote or accept an offer to open or close a position of this asset outside its trading hours, and it may refuse any trades outside the specified time.

  • The client understands that trading on platforms is dealing in exchanges that may not be recognized, and they understand that the prices displayed are used only for the client’s own trading purposes and agree not to use or redistribute these prices to other people.

  • The client understands that the trading platform is independent of any underlying markets, and the company is not obligated to a specific price display, nor is it obligated to follow the rules, mechanisms, and principles of trading in those markets. The prices provided by the company are in no way related to the prices displayed in the relevant underlying markets. The company is not obligated when executing the client’s order for the execution to be at a more efficient and suitable price than the price that may be displayed in another market or another platform.

  • The company may ignore any prices displayed on its platform before the market opens or after it closes, or during bidding periods in the relevant underlying markets, or during short price fluctuations.

  • The client is committed to any restrictions or instructions communicated to them by the company regarding their investments and activities on the trading platforms. The company may determine the size of transactions and trades and their specific conditions for any client.

  • The company may restrict the size of transactions to the minimum number of units on the trading platform, considering the unit amount and its multiples as the maximum amount allowed for trading through the platform. The company may assign the unit amount for each underlying asset.

  • The company may reject any order from the client if it finds that it has reasonable reasons to do so.

  • The client has also authorized the company to act as a commercial intermediary between them and the global market.

Price Quotes:

The only source for obtaining price quotes is the company’s trading platform or any other means of communication that the company deems appropriate to notify the client of price quotes. It is understood that any quotes on the client’s device do not in any way constitute a binding source of price quotes. The company will not consider any price quotes that contain a clear error as defined in the clear error definition above.

  • The client is obligated to submit an offer to close or open a position during the validity period of the price quote. The company is not obligated to complete any transaction after the price quote has closed.

  • In the event of closing or opening a position or part of an open position, the part that will remain open must not be less than the minimum unit price specified on the trading platform, and when opening a position, the number of units must be greater than or equal to the minimum unit price specified on the platform.

  • When the client requests to open a position, they understand that the company will not open the position if that opening leads to an exceeding of their balance, or margin, or any balance, or margin placed on the client’s transactions.

  • The client understands that any error on their part that leads to the request not being received completely, whether it is a technical or mechanical error related to the client or their communication devices or software, the company will not respond to it and/or complete it, and the company has the authority to decide the legality or validity of the request.

  • The client understands the company’s right not to fulfill requests in unusual market conditions or cases of force majeure.

  • The client understands the company’s right not to accept an order to open or close a position because the client has not met one of the trading conditions. The company has the right to consider that transaction void or to close it at the price offered on the platform at the time of closing, according to the company’s discretion, without the need for it to justify that.

  • The client understands the company’s right not to accept an order to open or close a position because the client has not met one of the trading conditions.

  • The company has the right to consider that transaction void or to close it at the price offered on the platform at the time of closing, according to the company’s discretion, without the need to justify that. The company has the right to take any reasonable measures as it sees fit with regard to CFDs, and in doing so, it may take one or all of the following measures:

    • Increase the margin in trades.

    • Restrict the client’s right to access trading accounts, including preventing them from closing some trades.

    • Change and modify the client’s open trades or their orders, including any orders to take profits or stop losses, and the company has the right to cancel or close those trades.

    • Add any amounts due to the client’s accounts.

    • Deduct any amounts due from the client’s accounts.

    • It is the client’s duty to provide sufficient amounts in their accounts to enable them to conclude any additional transactions or deals in accordance with the procedures specified above, and they are responsible for any trades that may be subject to the company’s aforementioned actions.

Force Majeure:

In the event of a sudden incident or force majeure, the company may take one or all of the following measures:

  • Deactivate the client’s account.

  • Limit the client’s access to some orders or trading on open positions or close those positions.

  • Not fulfill some of the client’s requests and orders.

  • Modify the terms of this agreement in whole or in part.

  • Postpone the execution of some of the client’s requests.

  • Close the accounts of some clients.

Time Limits of the Agreement:

This agreement is effective from the beginning of the client’s dealing with the company and the company’s acceptance of this dealing. However, the company may unilaterally terminate this agreement directly and notify the client of this within a reasonable period. However, this action will not have any effect on any actual amounts paid by either party or any rights or obligations that have arisen for them. This is considered an authorization for the company to close any open positions for the client and a full right for it to prevent their access to the platforms.

Upon this, the client’s accounts are balanced, and any amounts owed to or by the client become immediately due. This includes the company’s right to stop the client from withdrawing funds from the trading account and to retain the funds for a reasonable period to pay any outstanding obligations on the client or to meet the requirements for closing open positions.

Tax Accounts:

When a transaction is closed, all amounts that are due to either party to this agreement are payable immediately. Therefore, this agreement is considered an authorization to deduct or add any amounts to the trading accounts when the transaction is closed. The placement of a trading order, until this order is closed, is considered a restriction on the client’s freedom to withdraw from the maintenance margin.

  • Any taxes or fees imposed by a competent authority related to transactions on the platform must be paid by the client, or they authorize the company to deduct and pay them to the competent authority on their behalf.

  • The client is obligated to pay any commissions that accrue to the company or others as a result of their trades on the platform.

Settlement:

It is agreed that the settlement of rights on the platforms will be in cash.

When the amounts due to either party are balanced upon the closure of transactions, the client will be responsible for settling any differences related to buying or selling and the transaction’s closing price if the purchase price or sale price differs from the transaction’s opening price. The client is obligated to pay the difference if the transaction’s closing price is higher than its opening price in selling, or the transaction’s closing price is lower than its opening price in buying. Conversely, the client makes a profit if the transaction’s closing price is lower than its opening price in selling, or the transaction’s closing price is higher than its opening price in buying.

Liquidation and Set-off:

After the settlement and determination of the client’s financial position and the set-off between their obligations and rights, the party that owes an amount to the other party to this agreement is obligated to pay the said amount without delay. The accounts payable shall lose the right to claim or settlement if the balance falls below zero (negative balance), and they shall not be subject to liquidation and offset provisions. The company will pay the client any amounts if their account is a creditor, and the payment will be from the company’s account or one of its affiliated companies. This payment will be effective with regard to the client and will clear the company’s liability. The client will pay the company any amounts if their account is a debtor, without prejudice to the company’s right to combine and set off all trading accounts opened in the client’s name and/or to unify and settle these balances in one account.

  • In the event that the client requests the transfer of their funds to a specific financial institution and that institution is declared insolvent or bankrupt, the company has the right to claim those funds on behalf of the client, without being obligated to do so and without this agreement constituting a guarantee for the company’s claim on behalf of the client.

  • The company grants the client, within its capabilities, the right to know or track information related to their funds held by the company.

  • In cases other than a judicial decision or a decision issued by a competent authority, the company will not seize any of the client’s funds in favor of a third party, except for the purposes of fulfilling their trading obligations and their obligations contained in this agreement or the company’s rights.

Non-Fulfillment of Obligations:

The client is considered to have defaulted in fulfilling their obligations and breached them if they violate any of their obligations contained in the agreement, especially in the following cases:

  • Using fictitious names, titles, or information when opening the account.

  • Violating the company’s established trading rules and regulations.

  • Suspicion of engaging in money laundering, terrorism financing, crime, or any illegal activity.

  • Using abusive trading.

  • The client’s inability to carry out any outstanding obligation as stated in this agreement, or any of its amendments, or any of the approved documents available on the company’s website.

  • The inability or failure to provide any identification documents or guarantees determined by the company.

  • Not agreeing to the amendment of the company’s regulations, including this agreement.

  • The client being declared insolvent or bankrupt, or their funds being seized.

Upon the client’s default as stated above, the company may take the following actions, in whole or in part, without the need to notify the client of this: resort to the judiciary regarding the losses incurred by the company.

  • Reversing entries and canceling profits obtained as a result of abusive or fraudulent trading.

  • Restricting the client’s trading activity in whole or in part.

  • Canceling the client’s trades in whole or in part.

  • Closing any open positions and blocking the client’s access to the platform.

  • Terminating this agreement or amending its clauses in whole or in part.

Deposits and Withdrawals:

According to international regulations, any funds that accrue to the client in their accounts are deposited in a licensed banking institution determined by the company and are held in the institution according to its regulations in the client’s name. The company has the right to hold the funds of several clients in the same account.

  • The client understands that the deposit of funds into the account at the aforementioned institution will be for their trading account according to the value received by the institution on the date of receipt after deducting any transfer fees, commissions, or expenses required.

  • The client has the right to deposit funds into their account at the institution, provided that the transfer is made by any method accepted by the company, with due regard for the right to reject any unknown payments, unacceptable third-party payments, or any payments that violate the rules of payment by credit cards upon deposit.

  • The client agrees that payments will be in the currency determined by the company, and initially the trading account currency will be the currency of the client’s country or any currency determined by the company in agreement with the client.

  • For the purposes of combating crime and money laundering, the company may request documents from the client that confirm the source of the funds that will be deposited or have been deposited in the account. The company may stop the deposit if documents confirming the legality of these funds are not provided.

  • The company is committed to the client’s instructions to withdraw funds from their account and to process this request as quickly as possible within its capabilities and the capabilities of the market and working hours if the client meets their requirements and the request is made according to the methods specified by the company.

In the event that a deposit of funds sent by the client to the account is rejected, the client must notify the company in writing immediately and authorizes it to investigate the reasons for the deposit rejection upon their acceptance of this agreement. They also authorize it to deduct any expenses required for the investigation and acknowledge their commitment to provide the company with any documents required to ensure the transfer.

  • The company will not approve any withdrawal to an unknown or third party, as the withdrawal process is personal to the same client.

  • In the event that funds are returned to the client, this return is made to their account and in the manner determined by the company.

  • The client must specify, when issuing a withdrawal order, all necessary personal information and also provide any requested documents and specify the requested withdrawal balance. The company will then verify the client’s validity for withdrawal, the possibility of withdrawal, and the balance, and has the right to transfer in the manner it deems appropriate.

Account Closure Policy:

When an investor wishes to completely close their account, they must inform their account manager one month in advance so that they can arrange the procedures and collect their liquidity from the market.

Dormant Accounts:

Inactive accounts are accounts that have not been activated or on which no trading has been carried out for a period of three months. In the event that the account has not been transferred, whether by deposit, withdrawal, or transactions for the aforementioned period, the company has the right to impose a fee on the trading account of $50 per month or any equivalent value according to the client’s account currency. The company also closes any open positions to pay these fees, and in the event that there is not enough balance to cover these fees, the fees are recorded as a debt owed by the client without notice or warning, and the company has the right to take the necessary measures to completely close the client’s account. In the event that the account is left inactive for more than two years, the company may close the account after collecting the aforementioned fees and liquidating the account and keeping the funds, if any, for the client with the company.

  • The client understands that any promotional or advertising funds placed in their account cannot be used to pay dormant trading fees, as the company has the right to recover those funds originally granted to the client for free.

Authorization:

With the client’s acknowledgment of their understanding of the trading steps by accessing the platform and entering the account credentials, they authorize the company to carry out the instructions and orders they enter and request without the company inquiring about their validity. All electronic instructions or instructions carried out by any means of communication issued by the client are considered written orders. Thus, the client bears the risks of all instructions they issue, even if they are inappropriate, fraudulent, or unauthorized. They clear the company of any obligation that arises against it as a result of this, regardless of what this obligation is and its value. The client also bears the consequences of these instructions and any consequences or lawsuits filed against the company in any way as a result of their action.

  • The authorization granted to the company does not mean that it has a legal right or obligation to provide advice or consultation or to verify the validity of any of the instructions and signatures before each trading operation.

  • The client authorizes the company to act based on any instructions given by them or if the company has serious reasons to believe that they were given by them on the trading platform.

  • This authorization does not constitute an obligation on the company to act in accordance with instructions issued by the client if that constitutes a violation of any rule, work regulation, international agreement, or recognized law.

The order given by the client also does not constitute any obligation on the company if the client giving the order is exceeding their authority. In the event of a violation of regulations, laws, and agreements or exceeding authority, the company has the right to close the transaction at the prevailing price or to void it from its foundation.

  • The company may act on offers made by clients according to its absolute discretion. The company is not responsible for any loss or damage of any kind as a result of rejecting, neglecting, or delaying action on that offer, even if it is due to its error. Although the company acts with the client’s authorization, the client deals with it as a principal, whether (a natural person or an authorized representative of a legal entity) and is not in any way considered an agent for others. This means that the client will be directly and personally responsible for fulfilling the obligations required of them unless otherwise explicitly agreed upon in writing.

Communication and Notifications:

The primary language of communication will be Arabic, with the company having the right to use any other official language. Therefore, the language of notifications, messages, and communication will be Arabic.

  • For the purposes of communicating with the client, the company may use email, regular mail, the platform’s internal mail, official postal services, fax, or commercial mail. Communication will be based on the details that the client provided to the company in their personal data. The sending of mail to those addresses is considered fulfilling the company’s obligation for the purposes for which it is required to communicate or correspond. For these purposes, the data, documents, notifications, and other things required from the company are considered delivered to the client if they are sent via the company’s official email, or via the trading platform’s mail, or through telephone contact, or via official state mail, or commercial mail, or through airmail, or by means of advertisements published on the company’s websites. However, the client is not considered to have received the documents until one hour after they are sent via email unless they prove that they opened the mail before that, or upon receiving the transmission report to the fax machine, or after receiving confirmation of receipt of the express or air mail, or upon the publication of the information on the company’s website and within half an hour, or at the end of the telephone call directly or immediately upon sending it via the platform’s mail. All of the previous methods are considered a written notice for communication.

Legal Interpretation

The client can issue an offer at the best market price on the trading platform when opening a transaction unless they specify a certain price for that transaction offer. The offer in the first case is a market order, and in the second case, it is a limit order. The client understands that a market order, when completed, may not be at the exact same price as offered. The client agrees to accept an offer to open the market at a slightly different price according to the trading platforms. The company attempts to obtain the best possible price displayed on the trading platform to achieve the client’s desired profit. As for a limit order, the price at which the transaction is completed may not be equal to the specific price offered at the moment the order is submitted. The client understands that the company will conclude the transaction with a slight difference while the company considers opportunities for achieving the best profit for the client.

  • The client can remove orders unless they have been executed, and they can also change and modify stop-loss orders at a specific level and at the company’s discretion.

  • Orders and instructions to open positions outside of trading hours may not be executed if the market price changes, even if the company has accepted them.

  • Whenever necessary, the company will delete or cancel market orders that have not been executed due to a lack of ability or sufficient volume to fill them. However, pending orders will remain valid during the trading session if possible, and open positions will be carried over to the next business day if possible, according to the company’s capability and discretion.

  • Orders can be changed during the trading hours for all types of contracts shown on the company’s website.

  • The client understands and acknowledges that the price quote of the underlying asset for trading is determined by the platform, and when a trading operation is opened, the client may only trade according to the price specified on the platform.

  • The client can change, delete, and/or modify the expiration date of pending orders that have not been executed, according to the company’s regulations.

  • The client confirms that the prices on the platform may not represent the actual trading price due to market price fluctuations.

  • The company will, whenever possible, notify the client of a price change if the underlying asset’s price moves in the client’s favor. In case of negative fluctuations, the company may close the transaction at the next best price if the company is unable to guarantee the execution of the order at the client’s request.

  • If the company is unable to do the above, the company will send the client another new price quote, noting that the company will execute the client’s orders in a sequential order.

  • The client does not have the right to set a closing price for a transaction outside of business hours. The company may allow them to set the closing price during trading hours.

  • If the client chooses additional functions for the trading platform, such as an expert advisor or others, this is at the client’s absolute responsibility, with no responsibility on the company.

  • A stop-loss order may not limit losses to the intended amounts, as market conditions may prevent the execution of this order at the specified price.

  • The company has the right to accept a request to open or close a transaction during a period specified by the client, but the company may close the transaction during the period that the company deems appropriate.

  • Sometimes, due to market fluctuations, orders may not be executed at the level specified on the client’s request, and this does not constitute a violation on the part of the company.

  • Any transaction that is not closed during holidays, at the end of business hours, or when the market is closed will be transferred to the next business day. A fixed percentage of the position’s value will be added as a storage fee on digital currencies.

  • The client authorizes the company to deduct or add any premium from the trading account for any open transaction according to the price determination on the collection day on the trading platform. The client acknowledges, when opening any transaction, that they are aware of the premium.

  • Price spreads and expiration dates are shown on the trading platform or the company’s website for all available CFDs and all foreign currencies, taking into account margin prices as indicated in this brochure.

  • The company may specify a certain expiration date for a specific instrument. If this date is set for any underlying asset, it will be displayed on the platform in the asset’s details link.

  • Leverage is organized at the company’s discretion and based on client requests. Leverage changes are subject to the company’s regulation.

Policy Review

The company has the right to review these clauses from time to time whenever the need arises, without notifying or informing clients, either before or during transactions, and at any time the company deems it necessary.

This agreement, any amendments to it, any supplementary agreements, and all other legal documents published on the company’s website are considered a reference and a constitution for the relationship between the client and the company in all dealings between them.

Statute of Limitations and Liability

If the client is one or more individuals (whether they are legal entities, inheritance cases, or anything else), the obligation between its members will be jointly and severally liable. Any correspondence conducted with one party of the team is considered to apply to each of them and for each one of them. Any delay by the company in claiming its right to compensation in accordance with the general rules or the rules of this agreement is not considered a waiver of or a forfeiture of the right to compensation. The waiver of any breach by the client of this agreement is not considered consent to this breach or a waiver of the right to take appropriate action by the company or compensation.

  • In the event of the death of one of the people who own a multi-owner account or their loss of legal capacity, the company may deduct the share of this owner until it obtains a decision from the competent authority in the client’s country.

Liability

The company is liable to the client only if gross negligence, fraud, or willful misconduct is proven on its part.

Guarantees

All guarantees and acknowledgments provided by the client are considered to be present and existing every time the trading account is opened, transactions are closed, or data or pop-up pages from the platform or the company’s website are browsed.

Website Disclaimer

The company’s software and equipment, including platform software, are compatible with the company’s requirements. The company does not bear any responsibility and does not guarantee that the client’s equipment and software are compatible with the company’s. The task of ensuring their compatibility rests with the client.

  • The existence of minor defects in the trading platform does not constitute a violation of the client’s rights in this agreement and does not create liability for the company.

  • It is the client’s responsibility to ensure that the platform is compatible with the client’s aspirations and hopes and that the platform’s functions meet those aspirations.

  • The client must immediately inform the company of any errors, defects, or deficiencies that may exist in the platform.

  • In the event of security breaches or an internet connection outage, the company will not be held responsible for this.

  • Force majeure and a sudden incident allow the company to stop or restrict trading and are considered a legitimate reason for the company to be exempt from its obligation.

  • Fluctuations in the prices of trading units, asset values, tax prices, or changes in money transfer fees do not place any responsibility on the company.

  • Any loss resulting from a third party obtaining the client’s account or credentials is the sole responsibility of the client unless they notify the company of this before it is used.

  • The client understands that the company does not have the right to control data transmission through communication facilities, and the company is not responsible for communication failures or delays when trading.

  • If the data and information are inaccurate or have been changed according to market prices, this does not constitute a responsibility for the company.

Trading in Contracts for Differences (CFDs)

The company provides CFD trading services for all types of underlying assets through its platforms, including foreign currency contracts, futures contracts, stocks, futures contracts, and base and precious metals. To start a transaction on the trading platform, the client will open buy and sell transactions according to the prices displayed on the trading platform at the specified time. It is prohibited to transfer open positions to other CFD providers or foreign currency providers or their platforms, given the personal nature of these offers and trades.

Applicable Law

Kuwaiti courts have jurisdiction to settle any dispute that arises from this agreement in accordance with the provisions and legislation governing the contract issued by the State of Kuwait.

I, the undersigned, acknowledge that I have read all the clauses listed in the above contract and mentioned on the previous pages, and that my signature on the last page of the contract is my statement of consent and signature on all the pages mentioned in this contract and listed on the company’s website.