Terms
- Account — means the unique personified account registered in the name of the Client and which contains all the Client's transactions/operations on the Trading Platform of the Company.
- Available Margin — means the funds available for opening new positions.
- Balance — means the amount of available cash in the Client Account.
- CFD (Contracts for Difference) — means a tradable contract entered into between the Client and the Company, who exchange the difference in the value of an instrument, as specified on the Trading Platform at the time of opening a transaction, and the value of that instrument at the contract's end.
- Equity — means the Client Balance including unrealized profits and deducting unrealized losses of open positions and adding and/or deducting ongoing trading fees, including inter alia swaps.
- Leverage — means the ratio of the funds used in a position to the Margin required.
- Initial Margin — means the funds to be deducted by the Company from the Client's Equity as a security for the Client's current and future obligations towards the Company. Margin shall be calculated as a percentage of the full value of the position.
- Maintenance Margin — means the funds required to maintain an open position. Margin level is calculated by dividing the Equity by the Initial Margin and is expressed as a percentage.
- Trading Platform — means an electronic system on the internet that consists of all programs and technology that present quotes in real-time, allow the placement/modification/deletion of orders and calculate all mutual obligations of the Client and the Company.
Provision of services
By accepting the Terms and Conditions, the Client confirms he is aware that the use of Margin or Leverage creates greater risks and understands that there are situations where the Company will close out a portion of and/or all of his open positions without prior notice.
In order to open a position, the Client shall pay to the Company the Initial Margin as specified by the Company from time to time at his own discretion, for all CFDs offered on its Trading Platform.
The Company reserves the right to set out its Initial Margin and Maintenance Margin requirements at its own discretion.
The Company shall only accept cash as a form of Margin.
Open positions are required to be fully margined at all times. The Client is responsible for monitoring the Account and maintaining in full the required Maintenance Margin at all times to support his open positions.
The Company will monitor the Client's Maintenance Margin levels in real-time and will automatically close out open positions by way of market orders at the current market price if the Account Equity falls below 50% of the Maintenance Margin requirements.
Failure to meet the Maintenance Margin requirements will result in the closure of open positions without further notice, whether at a loss or at a profit.
In the event of the Account failing to meet the Maintenance Margin requirements, the Company will close open positions starting with the open position subject to the largest unrealized loss of the Account, and will subsequently continue to close open positions in this order, until it results in the Account meeting the Maintenance Margin requirements.
Ongoing trading fees and costs, such as inter alia swaps, shall be deducted by the Company from the Client's Equity.
The Company reserves the right to alter its Initial Margin and Maintenance Margin requirements at its own discretion within such time as may be specified or, if none is specified, with immediate effect. Such alterations shall not affect positions that had been opened prior to the changes.
The Client is responsible for monitoring his Account and the Company's Margin requirements as specified on its Website.
Funds not used by the Client as Margin may be freely withdrawn, subject to the provisions of the Terms and Conditions and the availability of funds in the Client Account, up to an amount equal to the Client Balance or Available Margin, whichever is the lowest.
Notwithstanding the above, in case the Client has an open position(s) as at the time of submitting a withdrawal request, the maximum withdrawable amount shall be 95% of the Balance or 95% of the Available Margin, whichever is the lowest. This provision has been adopted in order to safeguard the Client's Maintenance Margin requirements.