1. Subject of the agreement
·
1.1. This Customer Agreement is entered
into by Right Group Financial Limited (hereinafter referred to as the
‘Company’) and the Client who submitted a registration form at www.rightfx.com (Hereinafter referred to as the
‘Client’).
·
1.2. The Company is registered, regulated,
and governed by the Law of Saint-Vincent and the Grenadines. Any legal claims
will be the subject of the court hearings. The Company’s legal address is Suite
305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the
Grenadines.
·
1.3. The Agreement sets forth the
relationship between the Client and the Company including but not limited to: orders’
execution, Client policies, payments and/or payouts, claims resolution, fraud
prevention, communication, and other aspects.
·
1.4. Any possible arguments between the
Client and the Company will be settled in compliance with the Agreement unless
stated otherwise.
·
1.5. By entering into the Agreement, the
Client guarantees that he or she is a person of legal age. In case the Client
is a legal entity, it guarantees the entity is capable and no other parties are
eligible to perform any actions, claims, demands, requests, etc. in respect to
the Client’s trading account.
·
1.6. All the operations on and with the
Client’s trading account are performed in full compliance with this Agreement
unless stated otherwise.
·
1.7. The Client has no right to bypass,
fully or partially, his or her obligations under the Agreement on the basis
that it is a distance contract.
2. Terms definition
·
2.1. ‘Access Data’ are all the access logins and
passwords related to the Client’s trading account(s), Personal Area, or any
other data providing access to any other Company’s services.
·
2.2. ‘Ask’ is the higher price in the Quote, at which the
Client may open a ‘Buy’ order.
· 2.3. ‘Auto trading Software’ is an Expert Advisor or a
cBot, a piece of software that performs trading operations automatically or
semi-automatically without interference (or with a partial or occasional
interference) of a human.
·
2.4. ‘Balance’ is the total of all the closed orders
(including deposits and withdrawals) in the Client’s trading account at a given
time.
·
2.5. ‘Base Currency’ is the first currency in the
Currency Pair.
·
2.6. ‘Bid’ is the lowest price in the Quote at which the
Client may open a ‘Sell’ order.
·
2.7. ‘Business Day’ is any week's workday, from Monday to
Friday, except any official or non-official holidays announced by the Company.
·
2.8. ‘Client Information’ is any information that the
Company receives from the Client (or in other ways) related to him or her, his
or her trading account, etc.
·
2.9. ‘Client Terminal’ is Right Trader or any other software in all
its versions that are used by the Client to obtain information from financial
markets in real time, perform different kinds of market analysis and research,
perform, open, close, modify, delete orders, or receive notifications from the
Company.
·
2.10. ‘Company News Page’ is the section of the Company’s
website where the news is published.
· 2.11. ‘Corporate actions’ or ‘Corporate events’ are the
activities of a stock corporation that bring crucial changes and impact its
stakeholders (for example, dividend, split, consolidation, buyback, bankruptcy,
or any other action that a stock corporation can take). Depending on the
circumstances of each event, in order to preserve the economic equivalent of
the rights and obligations between customers and a stock corporation, the
Company reserves the rights to:
o
perform balance operations on Clients’ accounts depending
on their open positions;
o
close positions at the market price immediately before a
corporate event occurs;
o
reopen clients’ positions in order to preserve the
economic equivalent of rights and obligations between clients and a stock
corporation;
·
stop trading on instruments that have undergone corporate
action.
·
2.12. ‘Currency of the Trading Account’ is the currency
in which the Trading Account is denominated; all calculations and operations on
the account are performed in this currency.
·
2.13. ‘Currency Pair’ is the object of a transaction
based on the change in the value of one currency against the other.
·
2.14. ‘Derivative on Stock’ is a contract for the price
difference based on the fluctuations in the price of the underlying stock.
·
2.15. ‘Derivative on Index‘ is a contract for the price
difference on the fluctuations in the price of the underlying stock index.
·
2.16. ‘Dispute’ is either:
o 2.16.1. any argument between the Client and the Company,
where the Client has reasons to assume that the Company breached one or more
terms of the Agreement as a result of any action or failure to act, or
o 2.16.2. any argument between the Client and the Company,
where the Company has reasons to assume that the Client breached one or more
terms of the Agreement as a result of any action or failure to act.
· 2.17. ‘Dividend Adjustment’ is a Balance operation in the
event of a dividend payment on a single derivative on stock.
o 2.17.1. For long positions (‘Buy’ order), the Dividend
Adjustment is credited to the Balance;
o
2.17.2. For short positions (‘Sell’ order), the Dividend
Adjustment is deducted from the Balance;
o
2.17.3. The Dividend Adjustment is executed on the
ex-dividend date. The Dividend Adjustment is calculated as follows: Dividend
Adjustment = Dividend amount per one share × Contract size × Number of lots.
· 2.18. ‘Energy’ is Spot West Texas Intermediate Crude Oil,
Spot Brent Crude Oil, or United States Natural Gas.
· 2.19. ‘Ex-dividend Date’ is the date by which the Client
needs to hold the dividend-paying stock derivative position to receive the
upcoming dividend adjustment payment. If the Client purchases and holds the
Derivative on Stock position before its ex-dividend date, the next Dividend
Adjustment will be applied to their Balance. Conversely, if the Client
purchases the Derivative on Stock after the Ex-dividend Date, the Dividend
Adjustment will not be applied to their Balance.
· 2.20. ‘Floating Profit/Loss’ is the current profit/loss
on Open Positions calculated at the current price.
· 2.21. ‘Force Majeure Event’ is any of the following
events:
o 2.21.1. any act, event, or occurrence (including, without
limitation, any strike, riot or civil commotion, an act of terrorism, war, an
act of God, accident, fire, flood, storm, electronic, communication equipment
or supplier failure, interruption of power supply, civil unrest, statutory
provisions, lockouts) which, in the Company’s reasonable opinion, prevents the
Company from maintaining an orderly market for one or more of the Instruments
o
2.21.2. suspension, liquidation or closure of any market,
abandonment or failure of any event to which the Company relates its Quotes,
imposition of limits or special or unusual terms on the trading in any such
market or on any such event.
· 2.23. ‘IB’ is the Client whose application for the IB
status submitted via the Company’s website was approved by the Company.
· 2.24. ‘Indicative Quote’ is a price or a quote at which
the Company has the right not to accept or execute any Orders or perform any
modifications to the orders.
· 2.25. ‘Initial Margin’ is the margin required to open a
position. It can be viewed in the Trader’s Calculator.
· 2.26. ‘Instruction’ is the instruction from the Client to
open or close a position or to place, modify, or delete an Order.
· 2.27. ‘Instrument’ is any Currency Pair, Metal, Energy,
Derivative on Stock, or Derivative on Index. It can also be referred to as a
‘Trading Instrument’ or a ‘Trading Tool’.
· 2.28. ‘Leverage’ is the virtual credit given to the
Client by the Company. For instance, 1:500 leverage means that the Initial
Margin for the Client will be 500 times less than the Transaction Size.
· 2.29. ‘Long Position’ is a buy order, that is, buying the
Base Currency against the Quote Currency.
· 2.30. ‘Lot’ is 100,000 units of the Base Currency, 1000
Barrels of Crude oil, or any other number of contracts or troy oz. described in
the Contract Specifications.
· 2.31. ‘Lot Size’ is the number of units of a Base
Currency or the number of troy oz. of a Precious Metal defined in the Contract
Specifications.
· 2.32. ‘Margin’ is the amount of funds required to
maintain Open Positions as determined in the Contract Specifications for each
Instrument.
· 2.34. ‘Margin Trading’ is Leverage trading when the
Client may make Transactions having far fewer funds on the Trading Account
compared to the Transaction Size.
· 2.35. ‘Open Position’ is a Long Position or a Short
Position which has not yet been closed.
· 2.36. ‘Order’ is an instruction from the Client to the
Company to open or close a position when the price reaches the Order Level.
· 2.37. ‘Order Level’ is the price indicated in the Order.
· 2.38. ‘Personal Area’ is a personal profile created by
the Company for the Client within the Company’s Services. The Personal Area is
for the Client's private use only and allows the Client to manage his or her
personal information and all Trading Account settings.
· 2.39. ‘Precious Metal’ is spot gold or spot silver.
· 2.40. ‘Price Gap’ means the following:
o 2.40.1. Current Bid price is higher than the Ask price of
the previous Quote, or
o 2.40.2. Current Ask price is lower than the Bid price of
the previous Quote.
· 2.41. ‘Quote’ is the information about the current price
for a specific Instrument in the form of the Bid and Ask prices.
· 2.42. ‘Quote Currency’ is the second currency in the
Currency Pair, which can be bought or sold by the Client for the Base Currency.
· 2.43. ‘Rate’ means the following:
o 2.43.1. for the Currency Pair: the value of the Base
Currency in relation to the Quote Currency
o 2.43.2. for the Precious Metal: the price of one troy oz.
worth of the Precious Metal against the US dollar or any other currency (if
available) for this instrument
o 2.43.3. for the Energy: the price of one barrel worth of
the Energy against the US Dollar or any other currency (if available) for this
instrument
o 2.43.4. for the Derivative on Stock and Derivative on
Index: the price of one contract against the currency of the corresponding
country.
· 2.44. ‘Required Margin’ is the margin required by the
Company to maintain Open Positions.
· 2.45. ‘Risk Disclosure’ is the Risk Disclosure document.
· 2.46. ‘Segregated Account’ is a bank account where the
Clients’ funds are kept separately from the Company’s funds, as the regulations
demand.
· 2.47. ‘Services’ are any services provided by the Company
to the Client.
· 2.48. ‘Short Position’ is a sell position, that is,
selling the Base Currency against the Quote Currency.
· 2.49. ‘Spread’ is the difference between the Ask and Bid
prices.
· 2.50. ‘Trading Account’ is the Client’s personal account
in the Company at which the Client can perform orders, transactions, deposits,
withdrawals, etc.
· 2.51. ‘Trading Platform’ is all the Company’s software
and hardware environment, which provides real-time Quotes, and allows Order
placing, modification, deletion, or execution. The Trading Platform also
calculates all the mutual obligations between the Client and the Company.
· 2.52. ‘Transaction Size’ is the Lot Size multiplied by
the number of Lots.
· 2.53. ‘Website’ is the Company’s website at www.rightfx.com.
·
3.1. Subject to the Agreement, the Company will offer the
following Services to the Client:
o 3.1.1. Receive and transmit trading orders or execute
trading orders for the Client using the provided Trading Instruments.
·
3.2. Company’s services include access to Right Trader
platform and software, technical analysis tools, and any
third-party services offered along with the Company’s services.
·
3.3. Subject to the Agreement, the Company may enter into
Transactions with the Client using the Trading Instruments specified on the Company’s
website at www.rightfx.com.
· 3.4. The Company shall carry out all Transactions with
the Client on an execution-only basis. The Company is entitled to execute
Transactions notwithstanding that a Transaction may not be suitable for the
Client. The Company is under no obligation unless otherwise agreed, to monitor
or advise the Client on the status of any Transaction, to make margin calls, or
to close out any Client’s Open Positions.
· 3.5. The Client shall not be entitled to ask the Company
to provide investment advice or to make any statements of opinion to encourage
the Client to make any particular Transaction.
· 3.6. The Company shall not provide physical delivery of
the Underlying Asset of an Instrument in relation to any Transaction. Profit or
loss in the Currency of the Trading Account is credited or debited from the
Trading Account once the Transaction is closed.
·
3.7. The Company shall not provide personal
recommendations or advice on any specific Transactions.
·
3.8. The Company may from time to time and at its
discretion provide information and recommendations in newsletters which it may
post on its website or provide to subscribers via its website or otherwise.
Where it does so:
o 3.8.1. This information is provided solely to enable the
Client to make his own investment decisions and can’t be considered an
investment advice
o 3.8.2. If the document contains a restriction on the
person or category of persons for whom that document is intended or to whom it
is distributed, the Client agrees that he or she will not pass it on to any
such person or category of persons
o 3.8.3. The Company gives no representation, warranty, or
guarantee as to the accuracy of completeness of such information or as to the
tax consequences of any Transaction
o 3.8.4. It is provided solely to assist the Client in
making his or her own investment decisions and can’t be considered investment
advice or unsolicited financial promotions to the Client.
·
3.9. In providing the Client with reception and
transmission and/or execution services the Company is not required to assess
the suitability of the financial instrument in which the Client wishes to
transact, nor the service(s) provided or offered to him.
·
3.10. The Company reserves the right, at its discretion,
to refuse to provide the Services to the Client at any time, and the Client
agrees that the Company shall have no obligation to inform the Client of the
reasons.
· 3.11. The Company reserves the right to reject the Client
by returning him or her his or her initial deposit (that is, the total amount
deposited by the Client) at any time in case the Company deems it appropriate
and necessary (including but not limited to as a result of Client’s malicious,
illegal, inappropriate, fraudulent, or any other unacceptable actions).
·
3.12. Market commentary, news, or other information is
subject to change and may be modified at any time without notice. The
information can under no circumstances be considered direct or indirect trading
advice.
·
3.13. Any trading decision made by the Client is his or
her sole responsibility. The company is not liable for the consequences of such
decisions.
·
3.14. By accepting this Agreement, the Client confirms
that he or she has read the communication rules and agrees that he or she is
only able to perform orders by means of the Client Terminal.
·
3.15. The Client agrees that the Company can modify, add,
rename, or cancel any services offered in this Agreement partially or
completely without prior notification. The Client also confirms that the
Agreement is applied to the services which may be modified, added, or renamed
in the future in addition to the services provided by the Company at present.
·
3.16. The Company shall not (unless set forth in this
Agreement) attempt to execute any Client’s order at the quotes different from
the quotes offered by the Trading Platform.
·
3.17. The Company can under no circumstances be
considered a tax agent. The Parties comply with their tax and/or any other
obligations independently and on their own.
· 3.18. The Company does not allow anyone to trade as an
agent or in any other capacity on behalf of other Clients or any other persons,
except for specific campaigns and programs arranged by the Company (for
example, RightFX Copytrading). Except for the campaigns and/or programs
specified in this clause, the following shall apply:
o 3.18.1. The Client undertakes to trade on his or her
behalf personally, not to allow any other Client or any other person to trade
on his/her behalf, and not to trade on behalf of any other Client or any other
person
o 3.18.2. The Client undertakes that if he or she trades on
behalf of any other client or any other person, the Client shall hold the
Company harmless and be liable to such other Client or such other person for
any losses and/or damage such other Client or such other person may have.
o 3.18.3. The Client hereby undertakes that if any other
Client or any other person trades on behalf of the Client and the Client has
any loss or damage due to such trades, the Client shall not have any claims
against the Company and may claim such loss and/or damage only from the other
Client or any other person who has been trading on his or her behalf.
· 3.19. Creating several Personal Areas by using multiple
email addresses is prohibited. If the Company reasonably suspects the Client to
operate more than one Personal Area, the Company reserves the right to close
all Personal Areas except one at its sole discretion which will also mean
closing the Trading Accounts opened within them without prior notification of
the Client. The Company shall not bear any responsibility for any trading
activity of the Client performed through such excessive Personal Areas and the
consequences of such activity, including any losses borne by the Client upon
closure of such Personal Areas and Trading Accounts. Personal funds remaining
in the excessive Personal Areas shall be transferred to the remaining Personal
Area.
o 3.19.1. The Company reserves the right to close the
Client’s opened orders by the market quotes in case of creating several
Personal Areas.
·
3.20. The Company reserves the right to automatically
suspend the Trading Account created on Right Trader platform
from trading in the following cases:
o 3.20.1. If the Client hasn’t added funds to such Trading
Account within 7 (seven) calendar days after he or she has logged into the
platform using such account’s credentials.
o 3.20.2. If the Client has added funds in this Trading
Account in 30 (thirty) calendar days after he or she has last opened an order,
closed an order, made a deposit to such Trading Account, or logged into the
platform using such account’s credentials (whichever comes first).
· 3.21. The Client may return the Trading Account from being suspended at any time by pressing the corresponding button in the Personal Area or the RightFX Trading App, or by making any deposit or transfer into such Trading Account. The trading credentials, trading history, balance, and withdrawal availability for such Trading Account, in this case, remain unchanged.
·
4.1. The Company provides Market Execution on all trading
instruments. The Company applies ECN/STP model to orders’ execution, that is,
all the Client’s positions are offset to the interbank liquidity providers. In
some cases, the orders may fail to be offset, or the Company may solely decide
not to offset an order or a group of orders.
· 4.2. As a result of the nature of Market Execution,
slippage during orders opening or closure may occur. The Client agrees that
such possible occasional slippage is a natural consequence and feature of
Market Execution, and the Company is not responsible for it in any way.
· 4.3. Any possible open or close price deviation is
subject to the available liquidity. The Company bears no responsibility for the
consequences of such deviations and/or price differences from the price
requested by the Client.
·
4.4. The Client can cancel a sent order only while it is
in the queue with the ‘Order is accepted 'status. In this case, the Client
should press the ‘Cancel order 'button. In this case, due to the specifics of
the Client Terminal, the order cancellation cannot be guaranteed.
·
4.5. The Client’s request to open, modify, or close an
order can be declined in the following cases:
o 4.5.1. During the market opening, when the order is sent
before the first quote has been received by the Trading Platform
o 4.5.2. In exceptional market conditions
o 4.5.3. In case the Client doesn’t have sufficient margin.
In this case, ‘Not enough money’ or ‘Insufficient funds’ message is displayed
by the Trading Platform
o 4.5.4. In case the Client uses Autotrading Software
performing over thirty requests per minute, the Company reserves the right to
ban such Expert Advisors or cBots.
·
4.6. The use of the same IP address by different clients
can be a reason to consider all the orders in all the accounts performed from
this IP address as those performed by the same Client
·
4.7. Orders opened or closed by off-market quotes can be
cancelled:
o 4.7.1. In case the order was opened by an off-market
quote
o 4.7.2. In case the order was closed by an off-market
quote.
· 4.8. The use of arbitrage strategies is prohibited.
Arbitrage is a strategy aimed at profiting by exploiting the difference in
prices of identical or similar financial instruments in different markets or in
different forms, including but not limited to latency abuse, price
manipulation, or time manipulation. If the Company reasonably suspects that the
Client uses arbitrage in an explicit or hidden way, the Company reserves the
right to do the following:
o 4.8.1. Cancel all orders of the Client
o 4.8.2. Cancel the Client’s profit associated with all
closed orders
o 4.8.3. Close all trading accounts of the Client and
refuse further provision of the service to the Client.
·
4.9. In exceptional cases, short-term orders lasting less
than 180 seconds can be cancelled if they are considered abuse.
·
4.10. The Company reserves the right to close the
Client’s opened orders by the market quotes in the following cases:
·
4.10.1. The Client is underage;
·
4.10.2. The Client is from a country to which the Company
does not provide its services;
·
4.10.3. The Client uses any arbitrage strategies as
considered by the Company at its sole discretion;
·
4.10.4. The Client conducts any other violation of this
Agreement or any of the Company’s policies.
·
4.11. The Company reserves the right to cancel the
Client’s orders in case they do not comply with this Agreement.
·
4.12. A buy order shall be opened by an Ask price. A sell
order shall be opened by a Bid price.
·
4.13. A buy order shall be closed by a Bid price. A sell
order shall be closed by an Ask price.
·
4.14. The Company reserves the right to increase spreads
in case one or more of the following events occur:
o 4.14.1. In case the market conditions become irregular
o 4.14.2. In case the trading conditions for one or more
currency pairs have changed
o 4.14.3. In case of (a) Force Majeure event(s).
· 5.1. When the Client’s order to open the position comes to the server, an automatic check of the trading account for free margin for the open order is carried out. If the required margin is present, the order is opened. If the margin is not sufficient, the order is not opened. Due to Market execution, an opening price may differ from the requested one. The note about the open order appearing on the log file of the server confirms that the Client’s request has been processed and the order has been opened. Each open order on the Trading Platform receives a ticker.
6. Mandatory position closure (Margin call and stop out)
·
6.1. Margin call occurs whenever the account's margin
level falls below the designated percentage described in the Trading Account
specification on the Company Website. In this case, the Company is entitled but
not liable to close the Client’s positions.
·
6.2. The Company is obliged to close Client’s open
positions without prior notification in case Margin level falls below the
designated percentage described in the Trading Account specification on the
Company Website. This event is called Stop Out.
·
6.3. Stop Out is executed at a current market quote on a
first-come-first-serve basis. Stop Out will be recorded in the server's log
file as a ‘stop out’.
·
6.4. In case the Client has several open positions, the
first position to close will be the one with the highest floating loss.
·
6.5. In case a Stop Out leads to the account balance
becoming negative, this does not imply any debt payments from the Client and
can’t be regarded as such. The Company will compensate the account balance to
zero. In exceptional cases (should the Company deem Client’s actions fraudulent
or intentional), the Company may claim the debt.
· 6.6. Margin Call and Stop Out levels may be increased during news releases, periods of high market volatility, abnormal market conditions, and other irregular events.
7. Leverage modification
8. Trading conditions
· 8.1. Full trading conditions including but not limited to
current spreads, currency pairs, lot sizes, transaction sizes, commissions,
volume and/or deposit limitations, and account types are located at www.rightfx.com. The Company reserves the right to
modify, add, or cancel any or all of the trading conditions. Such modifications
are subject to prior notification.
· 8.2. Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company’s trading conditions may be a subject of investigation. Should facts of such abuses arise, the profit and/or loss gained with this advantage may be cancelled by the Company’s sole decision. The Client fully acknowledges this.
9. Pending orders
·
9.1. The following kinds of pending orders may be
executed in the Trading Software:
o 9.1.1. Buy Limit: an order to open a ‘Buy’ position if
the Ask price becomes lower or equal to the order price. In this case, the
current price at the moment of placing the order is higher than the Buy Limit
order price
o 9.1.2. Buy Stop: an order to open a ‘Buy’ position if the
Ask price becomes higher or equal to the order price. In this case, the current
price at the moment of placing the order is lower than the Buy Stop order price
o 9.1.3. Sell Limit: an order to open a ‘Sell’ position if
the Bid price becomes higher or equal to the order price. In this case, the
current price at the moment of placing the order is lower than the Sell Limit
order price
o 9.1.4. Sell Stop: an order to open a ‘Sell’ position if
the Bid price becomes lower or equal to the order price. In this case, the
current price at the moment of placing the order is higher than the Sell Stop
order price
o 9.1.5. Stop Loss: an order to close an open position at a
certain price in case the position generates losses
o 9.1.6. Take Profit: an order to close an open position at a certain price in case the position generates profit.
10. Orders’ rules
·
10.1. Opening, modifying, or deleting orders is allowed
only during active trading hours set forth in the Contract Specification; it is
not allowed beyond trading hours.
·
10.2. In the exceptional case of irregular market
conditions, trading with a specific tool may be prohibited (fully or partially,
temporarily or permanently) until the conditions remain irregular or until
further notice.
· 10.3. All the pending orders are executed by GTC Model
(‘Good Till Cancelled’) and have no period of validity, that is, they remain
active until cancelled by the Client. The Client, however, has the right to set
the order expiration date by him- or herself.
·
10.4. In case one or several order parameters are invalid
or missing, the order may be declined by the Trading Platform.
·
10.5. The Company will specify the current market price
at its sole discretion.
o 10.6.1. Pending orders of all types, including Take
Profit and Stop Loss, should not be placed closer than Stop Level—a stated
number of points away from the current price for each symbol. Stop Level values
may be changed with prior notice. The Client can see the current Stop Level
value in the symbol’s specification in the Right Trader .
·
10.7. A note in the server log file about the order
opening means the Client has opened an order and agrees with it. Each order
gets a unique identification number (a ticker).
·
10.8. In case an order opening is requested before the
first quote appears in the Trading Platform, it will be rejected by the Trading
Platform. In this case, the message ‘No price/Trading is forbidden’ will appear
in the Client Terminal.
·
10.9. A note in the server log file about the order
closure or modification means the Client has modified or closed an order and
agrees with it.
·
10.10. In case an order closure or modification is
requested before the first quote appears in the Trading Platform, it will be
rejected by the Trading Platform.
·
10.12. The Company has an option for the Client to
perform the Close By operation on their open positions on Trading platforms.
·
10.13. The Company has an option for the Client to
perform the Multiple Close By operation on their positions on Trading platforms.
·
11.1. A pending order is executed in the following cases:
o 11.1.1. Buy Limit order: whenever the current Ask price
becomes lower or equal to the order price
o 11.1.2. Buy Stop order: whenever the current Ask price
becomes higher or equal to the order price
o 11.1.3. Sell Limit order: whenever the current Bid price
becomes higher or equal to the order price
o 11.1.4. Sell Stop order: whenever the current Bid price
becomes lower or equal to the order price
o 11.1.5. Take Profit order for a ‘Buy’ position: whenever
the current Bid price becomes equal or higher than the order price
o 11.1.6. Stop Loss order for a ‘Buy’ position: whenever
the current Bid price becomes equal or lower than the order price
o 11.1.7. Take Profit order for a ‘Sell’ position: whenever
the current Ask price becomes equal or lower than the order price
o 11.1.8. Stop Loss order for a ‘Sell’ position: whenever
the current ask price becomes equal or higher than the order price.
·
11.2. The following rules are applied to orders’
execution during price gaps:
o 11.2.1. In case the pending order price and Take Profit
level are within the price gap, the order will be cancelled with a comment
(‘cancelled’ or ‘gap’)
o 11.2.2. In case the ‘Take Profit’ order price is within
the price gap, the order will be executed by its price
o 11.2.3. In case the ‘Stop Loss’ order price is within the
price gap; the order will be executed by the first price after the price gap
with a comment (‘sl’ or ‘gap’)
o 11.2.4. ‘Buy Stop’ and ‘Sell Stop’ pending orders will be
executed by the first price after the price gap with a comment (‘started’ or
‘gap’)
o 11.2.5. ‘Buy Limit’ and ‘Sell Limit’ pending orders will
be executed by the order’s price with a comment (‘started’ or ‘gap’).
·
11.3. In some instances, when small price gaps occur, the
orders may be executed as usual as stated in the previous paragraph.
·
11.4. In case a client account simultaneously has the
following characteristics:
o 11.4.1. The margin level is 140% or less
o 11.4.2. 60% of the volume of total position is placed at
the one trade tool and has one direction (sell or buy)
· 12.1. The Client shall provide and maintain the Initial
Margin and/or Hedged Margin in such limits as the Company may require from time
to time in compliance with the Agreement. It is the Client’s sole
responsibility to ensure that he or she understands how the margin is
calculated.
o 12.2.1 The Hedged Margin amounts to the minimum of 50% of
the Margin requirement of equivalent hedged position. The size of the Hedged
Margin depends on the volume of the position.
·
12.3. If no Force Majeure Event occurs, the Company is
entitled to change margin requirements and send to the Client a Written Notice
3 (three) Business Days prior to these amendments.
·
12.4. The Company is entitled to change margin
requirements without prior Written Notice in the case of a Force Majeure Event.
·
12.5. The Company is entitled to apply new margin
requirements amended in accordance with above-mentioned paragraphs to the new
positions and to the positions that are already open.
·
12.6. The Company is entitled to close Client’s Open
Positions without the consent of the Client or any prior Written Notice if the
Equity is less than a certain rate depending on the account type stipulated on
the Company Website.
·
12.7. It is the Client’s responsibility to notify the
Company as soon as the Client believes that he or she will be unable to meet a
margin payment when due.
·
12.8. The Company is not obliged to make margin calls for
the Client. The Company is not liable to the Client for any failure to contact
or an attempt to contact the Client.
· 13.1. The Client may deposit funds into the Trading
Account at any time. All payments to the Company shall be made in accordance
with the Payment Instructions set forth on the Company’s Website. Under no
circumstances will third party or anonymous payments be accepted.
· 13.2. In case the nature of the deposit does not allow
instant payment processing (bank wire, etc), the Client shall create a Deposit
Request in the Personal Area. Failure to do so will lead to a deposit delay.
· 13.3. It is the Client’s sole responsibility to create
Deposit Requests in his or her Personal Area and to fill them in a correct and
proper way. Failure to do so will lead to a deposit delay.
· 13.4. The Client may withdraw funds from the Trading
Account at any time in accordance with the procedure described in paragraph
13.5.
· 13.5. If the Client requests to withdraw funds from the
Trading Account, the Company shall pay the specified amount within three (3)
Business Days after the request has been accepted if the following conditions
are met:
o 13.5.1. Withdrawal request contains all necessary
information
o 13.5.2. The request is to perform funds transfer to the
Client’s bank account or e-currency account (under no circumstances will
payments to third party or anonymous accounts be accepted), and
o 13.5.3. Client’s Free Margin exceeds or equals to the
amount specified in the withdrawal request including all payment charges.
· 13.6. The Company shall debit the Client’s Trading
Account for all payment charges (if applicable).
·
13.7. As per Company’s AML Policy, to prevent the Client
from money laundering or terrorist financing, the Company establishes that the Client
shall use the same methods to withdraw funds as he or she did to deposit funds.
If the Client deposits funds to his or her Trading Account via multiple payment
methods, the Client shall withdraw funds using the same payment methods. In
this case, the ratio of withdrawable amounts to one another shall be directly
proportional to the ratio of deposited amounts.
·
13.8. In exceptional cases (such as Force Majeure
circumstances, termination of payment system operation, etc.), the Company is
entitled to decline the Client’s funds withdrawal in any payment system. Such
cases shall be considered on a case-by-case basis.
·
13.9. To provide financial security for the Client, in
some cases the Company reserves a right to withdraw Client’s funds only to his
or her bank account.
o
13.10.1. Following the request of the Company, the Client
shall send to the Company advanced selfies and/or regular selfies with the
requested identification documents, such as passport, other types of ID,
address proof, bank reference letter, and/or any other relevant documents not
listed here
o 13.10.2. Should such request be made by the Company, the
Client shall have 14 (fourteen) calendar days to collect and send advanced
selfies and/or regular selfies with the requested documents to the Company
o
13.10.3. If the Client does not send advanced selfies
and/or regular selfies with the requested documents within the mentioned 14-day
period, the Client's account shall be irreversibly blocked, and the Client’s
personal funds, excluding profits, shall be refunded
o 13.10.4. No profits shall be paid and no losses shall be
reimbursed for such accounts
o 13.10.5. For the purposes of this clause, an ‘advanced
selfie’ shall mean a selfie of a person made with a requested document and a
sheet of paper with the current date and the word ‘RightFX’ written on it.
·
13.11. Internal transfers (that is, transfers from one
trading account to another within the Company) between third parties are
prohibited.
·
13.12. If the Client has an obligation to pay any amount
to the Company that exceeds the Trading Account Equity, the Client shall pay
the amount of excess forthwith upon the obligation arising.
·
13.13. All incoming payments shall be credited to the
Client’s Trading Account no later than within one (1) Business Day after the
funds have been received by the Company.
· 13.14. The Client acknowledges and agrees that when a
payment is due and sufficient funds have not yet been credited to the Client’s
Trading Account, the Company shall be entitled to treat the Client as having
failed to make a payment and to exercise its rights in compliance with the
Agreement.
·
13.15. The Client shall make any margin payments or other
due payments in US dollars, Euros, and other currencies accepted by the
Company. The payment amount will be converted into the Trading Account Currency
at the current market rate.
· 13.16. The Company is entitled but not obliged to cover deposit and withdrawal fees applied by Skrill, Neteller, FasaPay, or any other payment processors. Such fees can be charged from the Client in cases which the Company deems appropriate.
·
14.1. The Client shall pay the Company the commissions,
charges, and other costs set out in the Agreement. The Company will display all
current commissions, charges, and other costs on its Website.
·
14.2. The Company may modify commissions, charges, and
other costs from time to time without prior notice. All changes in commissions,
charges, and other costs are displayed on the Company Website.
·
14.3. The Client undertakes to pay all possible stamp
expenses relating to this Agreement and any documentation which may be
required.
·
14.4. The Client shall be solely responsible for all
filings, tax returns, and reports on any Transactions which should be made to
any relevant authority, governmental or otherwise, and for the payment of all
taxes (including but not limited to any transfer or value-added taxes) arising
in connection with any Transaction.
·
14.5. The Company is not liable to disclose any reports
regarding profits, commissions, and other fees received by Company from the
Client’s trading unless stated otherwise by the Agreement.
·
14.6 By opening an account, the Client unconditionally
accepts all fees applicable to his or her account as per trading conditions
described on the Company Website.
· 15.1. In order to communicate with the Client, the
Company may use:
o 15.1.1. Client Terminal internal mail
o 15.1.2. Email
o 15.1.3. Telephone
o 15.1.4. Company’s Live Chat
o 15.1.5. SMS
o 15.1.6. Mobile push notifications
o 15.1.7. Web push notifications
o 15.1.8. Instant messenger services (Viber, Telegram,
Facebook Messenger, etc.).
·
15.2. Company will use contact details provided by the
Client whilst opening the Trading Account, and the Client agrees to accept any
notices or messages from the Company at any time.
·
15.3. Any piece of information sent to the Client
(documents, notices, confirmations, statements, etc.) shall be deemed received:
o 15.3.1. Within one hour after an email has been sent if
the information has been sent by email
o 15.3.2. Immediately after sending if sent by the Trading
Platform internal mail
o 15.3.3. Once the telephone conversation has been finished
if contacted by phone
o 15.3.4. Within one hour after it has been posted on the
Company News Webpage if posted at the Company’s Website.
·
15.4. On the first day of each month, the Company will
send the Client a statement that includes all Transactions of the previous
month. The Statement shall be sent by email.
· 15.5. Any telephone conversation between the Client and
the Company may be recorded. All Instructions and Requests received by
telephone will be binding as if received in writing. Any recordings shall be
and remain the sole property of the Company and will be accepted by the Client
as conclusive evidence of the Instructions, Requests, or other arising obligations.
The Client agrees that the Company may deliver copies of transcripts of such
recordings to any court, regulatory, or government authority.
· 16.1. In case any conflict situation arises when the
Client reasonably believes that the Company as a result of any action or
failure to act breaches one or more terms of the Agreement, the Client has the
right to file a complaint.
·
16.2. To file any complaint, the Client should email it
to support@rightfx.com.
·
16.3. A complaint MUST contain:
o 16.3.1. First and last name of the Client (or the company
name, if the Client is a legal entity)
o 16.3.2. Client’s login details in the Trading Platform
(that is, the Account number)
o 16.3.3. Details of when the conflict first arose (date
and time in the Trading Platform time)
o 16.3.4. Ticker of the order in question
o 16.3.5. Description of the conflict situation supported
by the reference to the Agreement.
·
16.4. The complaint MUST NOT contain:
o 16.4.1. Affective appraisal of the conflict situation
o 16.4.2. Offensive language
o 16.4.3. Uncontrolled vocabulary.
· 16.5. The Company has the right to reject a complaint in cases when:
o 16.5.1. Any of the above-mentioned provisions are breached
o 16.5.2. More than 30 (thirty) calendar days have passed since the conflict situation.
16.6. The Claim resolution term is set as 10 (ten) working days since the claim has been submitted. In occasional cases, the term may be increased.
o 17.1. The Server Log File is the most reliable source of
information in case of any Dispute. The Server Log File has absolute priority
over other arguments including the Client Terminal Log File as the Client
Terminal Log File does not register every stage of the execution of the Client’s
Instructions and Requests.
o 17.2. If the Server Log File has not recorded the
relevant information to which the Client refers, the argument based on this
reference may not be considered.
o 18.1. The Company may resolve all Disputes by ONLY:
§ 18.1.1. Crediting/debiting the Client’s Trading Account
§ 18.1.2. Reopening erroneously closed positions, and/or
§ 18.1.3. Deleting erroneously opened positions or placed
Orders.
o 18.2. The Company reserves the right to choose the method
of Dispute resolution at its sole discretion.
o 18.3. Disputes not mentioned in the Agreement will be
resolved in accordance with the common market practice and at the sole
discretion of the Company.
o 18.4. The Company shall not be liable to the Client if
for any reason the Client has received less profit than he or she had hoped for
or has incurred a loss as a result of an uncompleted action which the Client
had intended to complete. Thus, the Company will under no circumstances
compensate for any ‘lost profit’.
o 18.5. The Company shall not be liable to the Client for any indirect, consequential, or non-financial damage (emotional distress, etc.).
19. Rejection of complaint
o 19.1. In case the Client had been notified in advance by
the Trading Platform internal mail or some other way of routine maintenance on
the Server, complaints made in regard to any unexecuted Instructions or
Requests which are given during such a maintenance period are not accepted. The
fact that the Client has not received a notice shall not be a reason to file a
complaint.
o 19.2. Complaints regarding Order execution time are not
accepted.
o 19.3. No Client complaints will be accepted in regard to
the financial results of the orders opened or closed using temporary excess
Free Margin on the Trading Account gained as a result of a profitable position
(cancelled by the Company afterwards) or opened at an off-market quote (spike)
or by any other reason.
o 19.4. In regard to all Disputes, any references by the
Client to the Quotes of other companies or information systems cannot be taken
into account.
o 19.5. The Client acknowledges that he or she will not be
able to manage the position while the Dispute in regard to this position is
being considered and no complaints regarding this matter will be accepted.
o 20.1. The Company may, in its reasonable opinion,
determine that a Force Majeure Event exists, in which case the Company will in
due course take reasonable steps to inform the Client. A Force Majeure Event
includes without limitation:
§ 20.1.1. Any act, event or occurrence (including, without
limitation, any strike, riot or civil commotion, an act of terrorism, war, an
act of God, accident, fire, flood, storm, interruption of power supply,
electronic, communication equipment or supplier failure, civil unrest,
statutory provisions, lockouts) which, in the Company’s reasonable opinion,
prevents the Company from maintaining an orderly market in one or more of the
Instruments
§ 20.1.2. The suspension, liquidation or closure of any
market or the abandonment or failure of any event to which the Company relates
its Quotes or the imposition of limits or special or unusual terms on the
trading in any such market or on any such event.
o 20.2. In case the Company determines in its reasonable
opinion that a Force Majeure Event exists (without prejudice to any other
rights under the Agreement), the Company may without prior Written Notice and
at any time take any of the following steps:
§ 20.2.1. Increase margin requirements
§ 20.2.2. Close down any or all Open Positions at the
prices which the Company shall in good faith consider to be appropriate
§ 20.2.3. Suspend, freeze, or modify the application of any
or all terms of the Agreement to the extent that the Force Majeure Event makes
it impossible or impractical for the Company to comply with them, or
§ 20.2.4. Take or omit to take all such other actions as
the Company deems to be reasonably appropriate in the circumstances regarding
the position of the Company, the Client, and other Clients.
21. Safety
o 21.1. The Client will not proceed and avoid proceeding in
any action that could probably allow the irregular or unauthorized access or
use of the Trading Platform. The Client accepts and understands that the
Company reserves the right at its sole discretion to terminate or limit his or
her access to the Trading Platform if it suspects that he or she allowed such
use.
o 21.2. When using the Trading Platform, the Client will
not, whether by act or omission, do anything that will or may violate the
integrity of the Platform or cause it to malfunction.
o 21.3. The Client is permitted to store, display, analyze,
modify, reformat, and print the information made available through the Trading
Platform. The Client is not permitted to publish, transmit, or otherwise
reproduce that information, in whole or in part, in any format to any third
party without the Company’s consent. The Client may not alter, obscure, or
remove any copyright, trademark, or any other notices provided on the Trading
Platform.
o 21.4. The Client agrees to keep any Access data secret
and not to disclose it to any third party.
o 21.5. The Client agrees to notify the Company immediately
if he or she knows or suspects that his or her Access Data have or may have
been disclosed to any unauthorized person.
o 21.6. The Client agrees to co-operate with any
investigation the Company may conduct considering any misuse or suspected
misuse of his or her Access Data.
o 21.7. The Client accepts that he or she will be liable
for all Orders given through and being logged in under his or her Access Data,
and any such Orders received by the Company shall be considered as received
from the Client.
o 21.8. The Client acknowledges that the Company bears no
responsibility for any unauthorized third persons obtaining access to
information, including logins, passwords, electronic currency accounts access,
emails, electronic addresses, electronic communication, and personal data, when
the above-mentioned information is transmitted using the internet or other
network communication facilities, post, telephone, during the oral or written
conversation, or using any other means of communication.
o 21.9 The Client unconditionally guarantees that the
source of the funds used for trading with the Company is legal, and the funds
were not received as a result of any illegal activity, fraud, money laundering,
or from other illegal sources. Failure to comply with this rule will lead to
the account termination and a report to the authorities in all cases without
exceptions. Under no circumstances the Company or its IB and/or
subsidiaries will bear any responsibility for any claims or complaints if such
a case arises.
·
22.1. The Company reserves the right to suspend the
Client’s Trading Account at any time for any valid reason with or without
Written Notice to the Client.
· 22.2. If the Balance of the Client’s Trading Account
equals zero, the Company reserves the right to delete such Trading Account
within 60 (sixty) days after the last trading or monetary operation had been
performed in this account with or without Written Notice to the Client.
·
22.3. If a situation not covered by the Agreement arises,
the Company will resolve the matter on the basis of good faith and fairness
and, where appropriate, by taking such action as is consistent with market
practice.
·
22.4. In case any term of the Agreement (or any part of
it) shall be held by a court of competent jurisdiction to be unenforceable for
any reason, then such term shall to that extent be deemed severable and not
form part of this Agreement. However, the enforceability of the remainder of
the Agreement shall not be affected.
· 22.5. The Client may not assign, charge or otherwise
transfer or purport to assign the Client’s rights or obligations under the
Agreement without the prior written consent of the Company, and any purported
assignment, charge, or transfer in violation of this term shall be voided.
· 22.6. The Client is entitled to make a request for
changing the IB he or she was assigned to, for subscribing to the IB, and
unsubscribing from the IB via the Company’s Customer Support or by sending the
corresponding written request at ib@rightfx.com. However, the decision on approving
this request shall be at the Company’s sole discretion.
·
22.7. The Company is entitled to unsubscribe a Client
from an IB at its sole discretion at any moment without any notice.
·
22.8. Where the Client comprises two or more persons, the
liabilities and obligations under any agreement with the Company shall be joint
and several. Any warning or other notice given to one of the persons who
comprise the Client shall be deemed to have been given to all the persons who
comprise the Client. Any Order given by one of the persons who comprise the
Client shall be deemed to have been given by all the persons who comprise the
Client.
· 22.9. The Client accepts and understands that the
Company’s official language is English, and the Client should always read and
refer to the English version of the Company’s Website and this Customer
Agreement for all information and disclosures about the Company and its
activities. All translations or any information provided in languages other
than English on the Company’s local websites is for informational purposes only
and does not bind the Company or has any legal effect whatsoever. The Company
shall not bear any responsibility or liability regarding the correctness of the
information therein.
·
22.10. The Client confirms that they've thoroughly read
and agree to be bound by our Privacy Policy, Risk Disclosure, Return Policy,
AML Policy, and any other documents that the Company may publish.
The Client accepts and understands that the Company’s official language is English, and the Client should always read and refer to the English version of the Company’s Website and the terms and conditions for all information and disclosures about the Company and its activities. All translations or any information provided in languages other than English on the Company’s local websites is for informational purposes only and does not bind the Company or has any legal effect whatsoever. The Company shall not bear any responsibility or liability regarding the correctness of the information therein.
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