Terms and Conditions of Transactions
1. The company is obligated to immediately place any funds received from the Client into one or more separate accounts at a reliable financial institution (such as a bank); Client funds must be segregated from the Company’s own funds and not be used by the Company in the course of its activities.
2. The Company has the right to store the Client’s funds together with the funds of other customers named as holders of the same account (joint account).
3. The Company does not pay interest to the Client on his/her funds (apart from profits earned from conducting trading activities on the Client’s account(s) under this Agreement), and the Client waives his/her right to demand payment of such interest.
4. Funds may be deposited on behalf of the Client in a bank located in the UK. Legal and regulatory regimes that apply to such an entity outside the UK may differ from those applying in the UK, and in the event of bankruptcy, insolvency, or a similar situation affecting the entity, different rules from those which apply to cash funds held in the segregated account in Britain may be applicable to the Client’s funds. The Company is not responsible for the financial solvency, actions or omissions of any third parties specified in this clause of the Agreement.
5. In the event of bankruptcy or the commencement of any other similar proceedings in respect of such a third party, the Company may present only an unsecured claim against a third party on behalf of the Client, and the Client is exposed to the risk that the funds received by the Company from a third party may not be sufficient to cover the Client’s demand in respect of the relevant account. The Company shall not be liable for any consequential damages.
6. The parties agree that the Company has the right to transfer the Client’s funds to successors, authorized persons, beneficiaries or buyers for the purposes specified in this Agreement, provided that the preliminary written notification is sent to the Client no less than 15 working days prior to the transfer.
7. The Company holds a general retention right in respect of all funds held by the Company, its Partners or designated persons on behalf of the Client, until the Client fulfills his/her obligations.
8. Account replenishment (deposits) and withdrawal of funds at all stages of trading with the Company is carried out in USD (US dollars).