Contract for Difference (CFD’s) trading involves significant risk. We strongly advise that you read our Terms & Conditions. Although the risk when trading CFD’s is fixed for each individual trade, the trades are live, and it is possible to lose your initial investment, particularly if a trader chooses to place his entire investment to a single live trade. It is highly recommended that traders choose a proper money management strategy which limits the total consecutive trades or total outstanding investment.
The contract entered into is concluded between the Client and TRADERS-88.
The following Terms & Conditions apply to any person who completes an Account Application and/or any person undertaking any transaction with TRADERS-88 (‘the Client’). These Terms & Conditions shall replace any prior or existing agreement between the Client and TRADERS-88 (‘TRADERS-88’), or previously issued Terms & Conditions, and shall apply to any existing arrangements currently operating between the Client and TRADERS-88.
The Client accepts the Terms & Conditions that have been published on the website by nature of using the TRADERS-88 trading system. Terms & Conditions might be subjected to changes according to TRADERS-88‘s discretion, and the Client accepts any updated version on the website every time the Client makes use of the trading platform.
Trading assets such as cryptocurrencies with or without margin is high risk, can result in substantial risk of some or all of your investment and may not be suitable for all investors.
By executing an Account Application and/or undertaking any transaction with TRADERS-88, the Client hereby agrees to be bound by the following Terms & Conditions (as amended from time to time).
The Client wishes for TRADERS-88 to deal in exchange-traded and over-the- counter financial products on their behalf, in accordance with the Client’s instructions from time to time, and in accordance with the Terms & Conditions contained herein.
Our Services are for CFD/FX trading in crypto assets only. The website does not facilitate the purchase or sale of Cryptocurrencies.
In these Terms & Conditions unless a different intention is expressed, the following terms (as subsequently modified by amended legislation or regulation) shall mean:
“Account” means the account of the Client dealing in the financial products issued by TRADERS-88, which is established in accordance with these Terms & Conditions;
“Agent” means a legal entity undertaking a transaction or function on behalf of another legal entity but in its own name;
“Account Application” Where context suggest, ‘Account Application’ shall refer to an Account Application which has been duly completed by the Client;
“Authorised Person” means a person authorised to bind the Client under these Terms & Conditions;
“Business Day” means a day on which trading banks are open for business;
“Cryptocurrency” refers to all tradable Cryptocurrency Cryptocurrencies and tokens offered by TRADERS-88;
“Close of Business” means the time at which the market of the Exchange, on which the Underlying Security over which a Cryptocurrency is quoted, normally closes on any Business Day;
“Closing Date” means in relation to a Cryptocurrency, the date on which the Client accepts the Closing Price of the Underlying Security, or on which a Closing Date is deemed to have occurred in accordance with these Terms & Conditions;
“Closing Notice” means in relation to a Cryptocurrency, the notice given by one party to the other to close any Cryptocurrency in accordance with these Terms & Conditions;
“Closing Price” means in relation to a Cryptocurrency, the Underlying Security Price as determined by TRADERS-88 at the time TRADERS-88 receives the Closing Notice;
“Closing Value” means in relation to a Cryptocurrency, the Closing Price multiplied by the Contract Quantity;
“Collateral” means any property (including securities or other assets) deposited with TRADERS-88 by the Client;
“Contract” means any contract whether verbal or written, for the purchase or sale of a financial product, entered into by the Client. All Contracts are subject to these Terms & Conditions;
“CFD – Contract For Difference” means a marginable financial derivative that can be used to speculate on very short-term price movements for a variety of underlying instruments.
“Contract Value” means in relation to a Cryptocurrency the Underlying Security Price multiplied by the Contract Quantity;
“Contract Quantity” means in relation to a Cryptocurrency the number of Underlying Securities to which the Cryptocurrency relates;
“EFP” means Exchange for Physicals. An EFP allows a futures position to be exchanged for a physical position in the underlying market at a price negotiated between the counterparties;
“Excess Variation Margin” means the amount of the Client’s Variation margin plus any amount payable by TRADERS-88 to the Client at that time and less any amount payable by the Client to TRADERS-88 at that time;
“Financial Jurisdiction” refers to the applicable Financial Markets Jurisdiction;
“Financial product” includes Cryptocurrency contracts, futures, options, contracts for difference, commodities and foreign exchange contracts, whether traded on an eligible exchange or over-the-counter, as those terms are defined in the applicable legislation or governed by market convention;
“Initial Margin” means an amount required to be deposited by the Client with TRADERS-88 to open a position;
“Long Party” means the party identified as having notionally bought the Underlying Security;
“Margin” means Initial Margin or Variation Margin or both;
“Net free equity” means the amount of money you would have left in your account should all of your open positions be closed out at the current market price less any interest, fees or transaction charges (gross liquidation value) less your Margin requirement;
“Operating rules” means the rules, regulations, customs and practices from time to time of any exchange, clearing house or other organisation or market involved in the execution or settlement of any financial product transaction or contract;
“Relevant Exchange” means, in relation to a Cryptocurrency transaction, the financial market on which the reference security which forms the subject of the Cryptocurrency is quoted and is able to be traded. If the reference security is quoted on more than one financial market, TRADERS-88 will advise you of the
Relevant Exchange for the purposes of the Cryptocurrency, at the time the Cryptocurrency is entered into;
“Scalping/ high-speed trading activity” shall mean the form of trading strategy through which the Client performs and/or tries to perform numerous transactions within a very short time (for example up to two minutes) or buying at Bid price and selling at Ask price, to gain the Bid/Ask difference.
“Short Party” means the party identified as having notionally sold the Underlying Security;
“Underlying Security” means the underlying security (including index) to which the Cryptocurrency relates;
“Underlying Security Price” means in relation to a Cryptocurrency the current price of the Underlying Security as determined by TRADERS-88;
“Variation Margin” means the amount deposited by the Client with TRADERS-88 including any increase or reduction arising from settlement of a closed position;
“Terms & Conditions” means these terms & conditions, the Account Application which is expressly incorporated herein, and any other documents annexed or incorporated by reference;
“Trust” means where the Client is a trust, the trust identified in the Client Details Form;
“Trust Deed” means where the Client is a trust, the trust deed governing the Trust as varied, substituted, supplemented or resettled from time to time;
Headings are for convenience only and shall not affect the construction and interpretation of these Terms & Conditions.
The singular includes the plural and vice versa.
Reference to a person or individual includes bodies corporate, unincorporated associations, partnerships and individuals.
If there is any conflict between the terms of these Terms & Conditions and the relevant operating rules, the operating rules shall prevail.
Any reference in these Terms & Conditions to any law, statute, regulation or enactment shall include references to any statutory modification or re-enactment thereof or to any regulation or order made under such law, statute or enactment (or under such modification or re-enactment).
Client representations and warranties:
- The Client represents and warrants to TRADERS-88 that:
1.1. These Terms & Conditions constitutes a legal, valid and binding obligation of the Client;
1.2. The Client will not enter into a financial product transaction as or by way of a wager and that all orders to be placed and all trading to be conducted under these Terms & Conditions are lawful;
1.3. In executing and giving effect to these Terms &Conditions, the Client does not and will not infringe any provision of any other document or agreement to which the Client is a party, nor any law or judgment/order binding upon it;
1.4. Where the Client is more than one person, that all decisions made, and instructions issued, pursuant to these Terms & Conditions, are made on a fully informed and agreed basis by all the parties to the account;
1.5. The Client is not an employee or the close relative of an employee of any exchange participant;
1.6. All information supplied to TRADERS-88 by the Client is, or at the time it is supplied will be, accurate in all material respects and the Client will not omit or withhold any information which would make such Conditions, the Client will appoint TRADERS-88 as its agent for the purpose of dealing in financial products in accordance with the terms of these Terms & Conditions; information inaccurate in any material respect;
1.7. The Client and TRADERS-88 are bound by the applicable financial product laws, applicable operating. The Client shall, where so required, provide to TRADERS-88 a valid and rules, customs, usages and practices (as modified from time to time); binding guarantee and indemnity in favor of TRADERS-88 as a precondition of entering into these Terms & Conditions;
1.8. The Client will take all reasonable steps to obtain and communicate to TRADERS-88 all information and shall deliver or cause to be delivered to. The Client will provide to TRADERS-88 on request such information regarding its financial and business affairs and/or identity, as TRADERS-88 may reasonably require;
TRADERS-88 all documents with respect to dealings in the financial products which are requested by any person having the right to request such documents and information. The Client authorises TRADERS-88 to pass. In executing these Terms & on/deliver all such information and documents to any such person.
1.9. The Client is not insolvent, and if the Client is a corporate client, no resolution has been passed and no petition has been presented or order made for the Client’s winding up or liquidation or the appointment of a receiver or a receiver and manager or an administrator of other insolvency official to the Client or any of its assets;
1.10. TRADERS-88 relies on representations and warranties made by the Client. These representations and warranties and those contained elsewhere in these Terms & Conditions, survive the entering into of these Terms & Conditions and are repeated in respect of each financial product transaction.
Capacity to enter in to these Terms &Conditions:
- The Client represents and warrants to TRADERS-88 that:
2.1. The Client is duly organized and validly existing (or, if an individual, is of legal age and is under no legal disability or incapacity) and has full power and authority to enter into, and has taken all necessary steps to enable it lawfully to enter into, these Terms & Conditions and the transactions contemplated by it, and perform its obligations;
2.2. The person executing these Terms & Conditions has full power and authority to execute the Terms & Conditions on behalf of the Client, and bind the entity (whether individual, company, partnership or otherwise); constituted, is valid and complies with all applicable laws;
2.3. The Trust Deed has been been properly categorised as a executed; retail investor or wholesale investor pursuant to or where
2.4. The Client is the only Trustee of the applicable, the Financial Trust; Jurisdiction, and accurately advised TRADERS-88 of its status as such;
2.5. The property of the Trust has not been resettled, set aside or transferred to any other trust or settlement and the Trust Deed. The Client is not insolvent, and if has not been terminated and the Client is a corporate client, the date or any event for the no resolution has been passed and no petition has been vesting of the Trust’s property has not occurred; presented or order made for the Client’s winding up or liquidation or the appointment of a receiver or a receiver and manager or an administrator or other insolvency official to the Client or any of its assets;
2.6. The Trust Deed specifically empowers and authorises dealings in financial products, and such dealings are within the authorised ambit of the Trust’s investment strategy;
2.7. Where the Client is a Trustee (including the trustee of a superannuation fund)
2.8. All obligations under, and transactions contemplated by, these Terms & Conditions constitute binding obligations. The Trust has been duly and are lawfully enforceable against the
2.9. Responsible Entity of the Client, it is Trust and its property in authorised to arrange for closing out accordance with their of all Contracts entered into on behalf terms; of the Client prior to the date of such
2.10. It has an unrestricted right termination as soon as possible; and to be fully indemnified or exonerated out of the
2.11. Repeats each of these Trust’s property in respect representations and warranties in of any losses or liabilities relation to both itself and its incurred by it in its dealings underlying clients. with TRADERS-88, and the Trust’s property is sufficient to satisfy that right of indemnity or exoneration;
2.12. It has complied with its obligations in connection with the Trust;
2.13. There is no conflict of interest on the Client’s part in entering into these Terms & Conditions and performing its obligations under it or the transactions contemplated by it;
2.14. Where the Client is an investment manager or a Responsible Entity, the investment management agreement or constitution specifically empowers and authorises dealings in the financial products, by the Client and on behalf of their underlying clients; and such dealings are within the authorised ambit of the/each underlying client’s investment strategy;
2.15. It will enter into transactions pursuant to the applicable investment management agreement as investment manager or Responsible Entity and not otherwise;
2.16. It will only deal in financial product transactions when the funds or other assets under its control are sufficient to meet the obligations which arise in connection with such dealing;
2.17. In the event of termination of the Client’s appointment as investment manager or Account Establishment
- TRADERS-88 agrees to establish an account in the name of the Client, who is the person named as the holder of the account.
3.1. Where the Client is more than one person, the account shall be established in their names as joint tenants unless they specifically advise otherwise (in which case it shall be established in their names as joint tenants). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable.
3.2. TRADERS-88’s Services can be used by those individuals and legal entities who are eligible to form legally binding contracts under the applicable laws of their country of residence. TRADERS-88’s Services are not available to persons under the age of 18 or those of an age where they are considered Minors and unable to enter into a legally binding contract. Furthermore, the Client understands that laws regarding financial contracts vary throughout the world, and it is the Client’s responsibility to make sure it properly complies with any law, regulation or guideline in the Client’s country of residence regarding the use of Client in accordance with their TRADERS-88’s site. To avoid transaction rights under these Terms any doubt, the ability to and Conditions; access the TRADERS-88 Site does not necessarily mean that its’ Services and/or the Client’s activities through the site are legal under the laws, regulations or
3.3. TRADERS-88 shall be entitled to retain any interest earned on such segregated money or property held or invested by TRADERS-88; directives relevant to the Client’s country of residence.
3.4. If the Client does not provide TRADERS-88 with a tax file number or details of exemption, TRADERS-88 shall. No one except the Client has an interest in the Client’s account with be legally obliged to deduct tax from interest payments at the highest marginal rate;
- The Client agrees and acknowledges that:
4.1. All money and property
deposited by the Client with TRADERS-88, or received by TRADERS-88 on behalf of the Client, shall be deposited to the Client’s account and form a credit balance and will initially be paid into a Client segregated bank account established and maintained by TRADERS-88 and invested in accordance with applicable legal and regulatory requirements;
4.2. Such segregation of the Client’s money and property does not protect the Client’s money and property from the risk of loss;
4.3. Whilst the Client’s money and property is segregated from TRADERS-88’s money and property, it may be commingled with the money and property of other TRADERS-88 clients and utilised as free and clear collateral by TRADERS-88 from time to time in respect of open positions. Such monies and property shall accordingly be treated as the legal and beneficial property of TRADERS-88, subject to an obligation by TRADERS-88 to transfer equivalent back to reasonable
4.4. Any Collateral transferred by the Client discretion determines. to TRADERS-88 or held by TRADERS-88 TRADERS-88 shall not be liable for any or its counterparties on behalf of the loss occasioned by such sale; Client is pledged as a security for any liability that the Client may have
4.5. Financial product trades executed towards TRADERS-88. Client warrants through TRADERS-88 are routed to that all such Collateral are beneficially TRADERS-88’s service provider, who owned by the Client and are and will then facilitates execution and/or remain free from any lien, charge, clearing on our behalf. Depending on security interest if other the relevant jurisdiction or exchange, encumbrance. If the Client fails to either TRADERS-88 or its service fulfill any obligation under these Terms & Conditions provider will be the registered owner, TRADERS-88 is entitled of the instrument, within to sell any Collateral immediately TRADERS-88’s client omnibus account without notice and by the means and the value and dividends are then at the price that TRADERS-88 in its provided to clients by TRADERS-88 in accordance with their recorded, and continually reconciled, holdings. However, if TRADERS-88 were to go into liquidation, and an administrator appointed, clients would be prima facie entitled to fair value for their recorded holdings, rather than holding such instruments in their name directly, thereby placing Clients in the position of unsecured creditors with the administrators;
4.6. TRADERS-88 enters into arrangements with third party execution and clearing providers for the facilitation of transactions and settlements, and avails monies received for margin calls and settlements to such providers for this purpose.
- The Client is able to open multiple accounts denominated in the same currency as or in currencies other than that of the main trading account. The operation of multiple accounts may mean that the Client incurs additional costs.
5.1. If the Client opens opposite positions in the same currency cross (for example) on the same account, such positions will cancel each other out. However, if the Client operates several accounts (or sub-accounts) and opposite positions are opened on different accounts (or sub- accounts), such positions will not cancel each other out. The Client is specifically made aware that unless closed manually, all such positions may be rolled over on a continuous basis and thereby consequently all incur a cost for such roll-over;
5.2. Interest is calculated on the basis positions being continuously rolled over (and thereby continuously being charged the “tom-next rate”) until manually closed;
5.3. When operating several accounts, Client will therefore be charged interest on the full negative net free equity on any. If the Client has opened more than one account, Margin or Collateral deposited on one account will not automatically serve as Margin coverage on the other account(s). A Client may therefore receive margin calls and stopouts on one account despite having additional collateral available on other accounts; account despite having a positive net free equity on another account. When operating several accounts Client should use caution when using more than one account, and understand that the rate of interest paid on positive balances differs from the rate of interest charged on negative balances.
5.4. However, if the Client has Risk Disclosures deposited money or Collateral on one account, TRADERS-88 is entitled to transfer money or Collateral from one account to
- The Client represents and warrants to TRADERS-88 that: another, even if such transfer will necessitate the closing of margin trades on the account from which the transfer takes place;
6.1. They have received, read, understood and accepted the risk disclosures provided herein in relation to the financial products to be traded and contained herein;
6.2. The Client acknowledges, recognizes and understands that trading and investment in these financial products is speculative, may involve an extreme degree of risk and significant loss, and is appropriate only for persons who can assume risk of loss in excess of their margin deposit;
6.3. The Client has read these Terms & Conditions and understands that, UNLESS SPECIFICALLY AGREED WITH TRADERS-88 AND UNLESS A STATEMENT OF ADVICE HAS BEEN PROVIDED, TRADERS-88 has only provided general advice, and the Client has considered its objectives and financial situation and has obtained appropriate independent advice prior to entering into these Terms & Conditions, and has formed the opinion that dealing in the financial products is suitable for the Client’s needs and purposes;
6.4. The Client has taken such independent legal and financial advice as the Client considers necessary prior to executing these Terms & Conditions;
6.5. The Client is willing and able, financially and otherwise, to assume the risk of trading in high risk investments; and
6.6. The Client acknowledges that neither TRADERS-88 nor any associated entity guarantees the performance of any given financial product or account nor that any financial product or account will achieve a particular rate of return.
- The Client acknowledges to TRADERS-88 that:
Terms & Conditions shall be at the absolute discretion of TRADERS-88. In particular, TRADERS-88 shall be entitled to
7.1. TRADERS-88 will deal or instruct third parties to deal on behalf of the Client, in the financial products; take any action it considers necessary in its absolute discretion to ensure compliance with the operating rules and all other applicable laws and. TRADERS-88 may utilise the regulatory decisions; execution and
7.2. If the Company notices any settlement services of appropriately licensed third parties on behalf of the Scalping activity or other high-speed trading Client in order to provide the services detailed in these Terms & Conditions; activity, the trading account of the Client shall be disabled without prior
7.3. Dealings in the financial products create an obligation to make a cash adjustment in accordance with the terms of the relevant transaction; notice. Moreover, the Company reserves the right to cancel and delete any transaction/pending order executed with. Where a financial product has no the scalping account; maturity date or defined term, open Contracts shall continue until such date as they are closed;
7.4. TRADERS-88 may act as principal in respect of the financial products traded by TRADERS-88 on behalf of the Client regardless of whether TRADERS-88 is acting on Client instructions or not;
7.5. Risk committee will act to allow fair trading and not to allow abuse and scalping especially in VIP and favored accounts which allow the client a low commissions trading account (less than 8% in the major Cryptocurrencies);
7.6. A Favorable trade will be deemed to be a trade with no swaps or commissions as per benefits that have been granted to the account – in the case that the trade duration was less than 1 hour between the opening time and the closing time, the trade profits will be cancelled according to the TRADERS-88’s discretion. This is in order to prevent an abuse of trading in favorable terms that have been granted to the account;
7.7. The Client has been made specifically aware that in certain markets, TRADERS-88 may act as a market maker and when so acting under normal market circumstances quote the Client bid and ask prices. TRADERS-88 will only disclose that it is acting as a market maker in response to a written request from the Client to make such disclosure. The Client accepts that in such markets, TRADERS-88 may hold positions that are contrary to the position of Clients resulting in potential conflicts of interest;
7.8. Subject to applicable legal/regulatory requirements, the Client consents where TRADERS-88 either knowingly or unknowingly takes the opposite side to the Client in relation to any of the financial product transactions; sole discretion and without explanation, to close all open
7.9. Subject to applicable legal/regulatory requirements, the Client agrees and acknowledges that TRADERS-88’s directors, employees and associates positions held by the Client when the Client’s account reaches a negative balance and/or the Client is trading solely using Company Credit Tokens. may and can deal on their own account;
7.10. Client has no rights, whether by way of subrogation or otherwise, against any person other than TRADERS-88,
7.11. TRADERS-88 reserves the right, at its sole discretion and without explanation, to refuse to deal on behalf of the Client in relation to any exchange traded or over-the-counter financial products (other than closing in respect of transactions on a futures exchange or market traded pursuant to the applicable rules of the exchange or market, except to the extent (if any) provided by any applicable law;
out existing open positions held in TRADERS-88’s account on behalf of the Client) or to limit the number of open positions held on behalf of the Client or both. TRADERS-88 will inform the Client of any refusal before or as soon as practicable after such refusal;
7.12. Where errors have occurred in price quotes provided by, or the pricing of transactions quoted by TRADERS-88 to the Client, TRADERS-88 reserves the right to not be bound by such a quote or transaction where TRADERS-88 is able to substantiate to
7.13. TRADERS-88 reserves the right, at its the Client that there was a material error at the time of the quote or transaction. Where this occurs in relation to the initial purchase of a financial product, TRADERS-88 will not issue (or if already issued will cancel) the Contract and refund the Client’s money accordingly. Where this occurs in relation to a price quote for an existing position, TRADERS-88 will re-issue the price quote accordingly;
7.14. Any benefit or right obtained by TRADERS-88 upon registration of an exchange traded or over- the-counter financial products with a clearing house is personal to TRADERS-88 and such benefit or right shall not pass to the Client;
7.15. In dealing in the financial products on behalf of the Client or for any other purpose under these Terms & Conditions, when TRADERS-88 needs to buy/sell foreign currency from time to time, the applicable exchange rate shall be any widely recognized and published foreign exchange rate selected by TRADERS-88 in its sole discretion available on the date the Client’s money is exchanged;
7.16. There are risks associated with utilising an Internet- based deal execution trading system which include, but are not limited to, the failure of hardware, software, and Internet connection. Since TRADERS-88 does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, TRADERS-88 will not be responsible for communication failures, distortions or delays when trading via the Internet;
7.17. Reports to the Client on the execution of contract notes by TRADERS-88, and the
7.18. TRADERS-88 is entitled, in its content of such contract notes, open position statements and monthly statements, unless otherwise objected to within 48 hours after communication to the Client, shall be deemed proof of the accuracy of such contents and their execution in accordance with these Terms & Conditions; reasonable opinion, to determine that an emergency of an exceptional market condition exists. Such conditions include, but are not limited to, the suspension or closure of any market or the abandonment or failure of any event to which TRADERS-88 relates its quote or the occurrence of an excessive movement in the level of any margin trade and/or underlying market or TRADERS-88’s reasonable
7.19. A notice issued by an authorized officer or agent of TRADERS-88 stating the amount of money due and payable by the Client shall be taken as final evidence thereof in the absence of manifest error anticipation of the occurrence of such a movement. In such cases TRADERS-88 may increase its margin requirements, close any or all of the Client’s open margin trades and/or suspend or modify the application of all or any of the terms.
7.20. All determinations and calculations made by TRADERS-88 under these Terms & Conditions will be binding on the Client in the absence of manifest error; not limited to, altering the last time for trading a particular margin trade, to the extent that the condition makes it impossible or impracticable for TRADERS-88 to comply with the term in question;
7.21. The Company, at its own discretion, shall have the right to adjust the leverage on a Client’s account without prior notice.
Adjustment of leverage shall be effected to allow the Client to continue trading, as well as to have the option of changing the Client’s trading strategy without having to close positions;
7.22. Anything TRADERS-88 is permitted to do in accordance with these Terms & Conditions may be done in its absolute discretion, and any opinion or view required to be formed by TRADERS-88 may be formed in its absolute discretion.
TRADERS-88 Representations & Services
- TRADERS-88 seeks to act honestly, exercise due care and diligence and act in the Client’s best interests at all times.
TRADERS-88 will give priority to Client interests and undertakes that it will not misuse Client information. TRADERS-88 will use reasonable endeavors to execute or arrange the execution of the Client’s instructions:
8.1. TRADERS-88 will arrange execution and clearing for transactions in financial products defined herein, and other authorised services as agreed with the Client from time to time.
8.2. Unless otherwise expressly agreed, TRADERS-88 will provide services on an execution only basis in accordance with the Client’s instructions and will not provide advice to the Client regarding the merits of a transaction. The Client is hereby prohibited from treating any remark made by a TRADERS-88 dealing via our online trading facility as set out in representative regarding the these Terms & Conditions:
market, transaction or forecast as advice.
8.3. Any transaction or market information or research provided by TRADERS-88 to the Client is provided as general information only, and does not constitute and cannot be relied upon as a recommendation to trade. TRADERS-88 makes no representation, warranty or guarantee, and accepts no liability for, the accuracy or completeness of any such information, and the Client relies on such at its sole replaced Terms & Conditions will be posted on www.traders-88.com and will be effective immediately upon posting. The Client is responsible for ensuring they are familiar with the latest Terms & Conditions and by continuing to deal with TRADERS-88 or to access or use the online trading facility, the Client agrees to be bound by the Terms & Conditions as amended or replaced. risk.
8.4. TRADERS-88 agrees to grant the Online Trading Facility Client access to one or more electronic terminals.
8.5. The Client acknowledges that it has read, understood and agreed to the terms and conditions associated with terminal access through the Client’s Internet browser, for the electronic transmission of orders to the Client’s account with TRADERS-88.
8.6. TRADERS-88 shall permit the Client electronically to monitor the activity and positions in its account by providing an online trading facility. The online trading facility may be a proprietary service offered by TRADERS-88 or a third-party system.
8.7. The Client agrees to use the online trading facility software solely for its internal business or investment purposes.
8.8. The Client agrees that it shall not distribute the platform to any third party.
8.9. The online trading facility provided by TRADERS-88 may be used to transmit, receive and confirm the execution of orders, subject to market conditions and applicable operating rules and regulations.
8.10. Regardless of any online confirmation received upon placement of an instruction via the online trading facility, such transaction is not confirmed by TRADERS-88 until TRADERS-88 provides confirmation.
8.11. TRADERS-88 consents to the Client’s access and use in reliance upon the Client having adopted procedures to prevent unauthorised access to and use of the online trading facility, in any event, the Client agrees to any financial liability for trades executed through the online trading facility.
8.12. The Client may send and receive email messages and otherwise use the online trading facility as permitted in accordance with these Terms & Conditions, our policies and any applicable laws.
8.13. TRADERS-88 reserves the right, in its sole discretion, to institute or change any policies at any time relating to the use of the online trading facility.
8.14. The online trading facility is provided on an “as–is” basis and TRADERS-88 makes no express or implied representations or warranties to the Client regarding its operation or usability.
8.15. TRADERS-88 makes no representations or warranties regarding any services provided by any third-party.
8.16. The online trading facility may be available in several versions, which may be differentiated in various aspects including, but not limited to the level of security applied, products and services available etc. TRADERS-88 shall not be liable to the Client for any loss, expense, cost or liability suffered or incurred by the Client due to the Client using a version different from the standard version with all available updates installed.
8.17. TRADERS-88 may offer real- time tradable prices to the Client. Due to delayed transmission between the Client and TRADERS-88 the price offered may have changed before an order from the Client is received by TRADERS-88. If automatic order execution is offered to the Client, TRADERS-88 shall be entitled to change the price on which the Client’s order is executed to the market value at the time which the order from the Client was received. trading facility will be. TRADERS-88 does not warrant uninterrupted or error-free, or that that access to or use of the online the service will meet any particular criteria with respect to its performance or quality. TRADERS-88 expressly disclaims all implied warranties, including without limitation warranties of merchantability, title, fitness for a particular purpose, non- infringement, compatibility, security or accuracy.
8.18. Under no circumstances, including negligence, will TRADERS-88, its employees and/or service providers be liable for any direct, indirect, incidental, special or consequential damages including, without limitation, business interruption or loss of profits, that may result from the use of or inability to use the online trading facility. Where liability cannot be excluded, TRADERS-88’s liability shall be limited to an amount equal to the amount of fees paid to TRADERS-88 by the Client for use of the online trading facility.
8.19. The Client agrees not to hold TRADERS-88 and any of its service providers (for whom it acts as agent in this regard) liable for any form of damage arising as a result of the unavailability of the online trading facility.
8.20. The Client agrees that the use of the online trading facility is at the Client’s risk and the Client assumes full responsibility for any losses resulting from the use of or materials obtained via the online trading facility.
8.21. TRADERS-88, its directors, officers, employees, agents, contractors, affiliates, third party vendors, information providers, and other suppliers providing information or data services do not warrant that the online trading facility will be uninterrupted or error free nor do we or they make any warranty as to the negligent act or omission, including any “force majeure” timeliness, sequence, accuracy, completeness, reliability or content of any information, service or transaction provided through the use of the online trading facility or the results obtained from its use.
event or any other cause, whether or not within TRADERS-88’s control; Force majeure events include amongst other things, floods, extraordinary weather conditions, earthquakes, acts of God, fire, war, riot, labour disputes, accidents, actions of
8.22. TRADERS-88 and its service providers will not accept any form of liability including any loss or damage to the Client or any government, communications or power failure, equipment or software malfunction. to any other person for:
8.23. The use and storage of any
8.23.1. Any inaccuracies, errors or delays or omissions of any data, information or message or transmission or delivery of any such data, information or message; information provided or made available to the Client through the use of the online trading facility is for the use of the Client and is the Client’s sole risk and responsibility.
8.24. The Client is responsible for providing and maintaining the 9.19.3. Interruptions in data, information or message transmission, due to any communications equipment and telephone or alternative services required for accessing and using the online trading facility, and for all communications service fees and charges incurred by the Client in accessing the online trading facility.
8.25. TRADERS-88 may at any time at its sole discretion terminate or restrict any Client’s access to the online trading facility at any time. Should TRADERS-88 terminate these Terms & Conditions or access to the trading platform the Client will be liable for all fees charges and obligations incurred under these Terms & Conditions prior to termination.
8.26. The Client acknowledges that from time to time, and for any reason, the online trading facility may not be operational or otherwise available for the Client’s use due to servicing, hardware malfunction, software defect, service or transmission interruption or other cause.
8.27. The Client’s failure to observe any of the undertakings or representations may result in civil or criminal liability, as well as termination of the use of the online trading facility.
8.28. The Client acknowledges that the Client has alternative arrangements in place at all times, for the transmission and execution of orders, if for any reason, circumstances prevent the transmission and execution of all, or any portion of, the Client’s orders through the online trading facility. In the event the online trading facility not being operational, the Client agrees to contact TRADERS-88 to make alternative order entry arrangements. Such arrangements may be in the form of telephone, or as otherwise agreed.
8.29.5. Act, or fail to act in a manner
8.30. The Client may not under any circumstance use the online trading facility to do any of the which may result in the violation of any laws or regulations. following: Authorisations and Instructions
8.30.1. Publish, post, distribute or disseminate defamatory,
- General infringing, obscene or other unlawful or offensive material or information;
9.1. The Client hereby authorises TRADERS-88 to trade in the financial products on their
9.1.1. Intercept or attempt to intercept any email correspondence; behalf pursuant to the prior approval and instruction of the Client, or otherwise in accordance with TRADERS-88’ 9.26.3. Use the online trading facility in any manner that may adversely rights elsewhere under these Terms & Conditions. affect its availability or its resources to other users;
9.2. The Client may communicate their instructions to TRADERS-88 9.26.4. Send correspondence electronically or otherwise to other users for any purpose other than personal communication; or via the online trading facility or by telephone. Faxed or email orders will not be accepted unless pursuant to a prior agreed arrangement between TRADERS-88 and Client.
9.3. In consideration of TRADERS-88 agreeing to accept telephone (or other written) instructions from the Client, Client acknowledges that TRADERS-88 is not obliged to accept/implement such instructions and will not be liable to the Client or any other party should such instructions be unauthorised, forged or fraudulently given.
9.4. The Client may authorise any other person (the Authorised Signatory) to give instructions on its behalf and TRADERS-88 is entitled to act upon instructions which are or appear to be from the Client or any Authorised Signatory thereof. It is the Client’s sole responsibility to notify TRADERS-88 in writing immediately if there is any change to the Authorised Signatory list provided.
9.5. The Client shall be responsible for all orders, and for the accuracy of information, sent via the internet using the Client’s name, password or any other personal identification means implemented to identify the Client.
9.6. Persons may only be appointed as Authorised Persons where they are an
9.7. If the Client is more than one person, TRADERS-88 may act upon instructions received from any one employee or director of a corporate Client, they are a family member appointed to act in the temporary absence of an individual Client, or person who is, or appears to where they are or act for an Financial TRADERS-88 to be, such a person, Services Licensee with respect to the whether or not such person is an relevant activities. Authorised Person.
9.8. The Client may authorise any other person (Authorised Person) to give instructions (via the agreed methods) on its behalf and TRADERS-88 is entitled to act upon instructions which are or appear to be from the to accept any instruction that is not made by an Authorised Person or to enquire as to the identity of any person providing the instruction if it reasonably believes the person is an Authorised Person.
Client or any Authorised Person. It is
9.9. Should TRADERS-88 receive any the Client’s responsibility to notify instruction that it reasonably assumes TRADERS-88 in writing immediately if was from an Authorised Person, there is any change to the Authorised TRADERS-88 will not be liable for any Person list provided pursuant to these properly performed action or omission Terms & Conditions; by TRADERS-88 in reliance on that instruction.
9.10. TRADERS-88 shall not be liable for any act or omission by TRADERS-88 in reliance on any instruction given or action taken by any person acting or purporting to act on behalf of the Client who is not listed as an Authorised Person.
9.11. The Client is obliged to keep all passwords secret and ensure that third parties do not obtain access to the Client’s trading facilities;
9.12. Mere transmission of an instruction by the Client shall not constitute a binding contract with TRADERS-88 until confirmed by TRADERS-88 via the trade confirmation;
9.13. The Client has appointed TRADERS-88 as its agent for the purposes set out in these Terms & Conditions and conferred upon TRADERS-88 authority to do, or omit to do, all things reasonably necessary to perform its functions and all things reasonably incidental to the performance of its functions;
9.14. The Client will execute or otherwise authorises TRADERS-88 to execute all such agreements as required to enable the provision of the services contemplated in these Terms & Conditions. The Client appoints TRADERS-88 as the Client’s attorney to do all things necessary to enter into such agreements on the Client’s behalf;
9.15. The Client shall promptly provide any instructions to TRADERS-88, which TRADERS-88 may require. If the Client does not provide such instructions promptly TRADERS-88 may, in its absolute discretion, take such steps at the Client’s cost, as TRADERS-88 considers necessary seen in the context of the nature of the instruction. or desirable for its own protection or the protection of the Client. This provision also applies in situations when TRADERS-88 is unable to contact with the Client;
However, if after instructions are received, TRADERS-88 believes that it is not reasonable practicable to act upon such instructions within a reasonable time, TRADERS-88 may defer acting upon those instructions until it is, in 10.19. If the Client does not provide TRADERS-88 with notice of its intention to exercise an option or another financial product transaction which requires an TRADERS-88’s reasonable opinion, practicable to do so or notify the Client that TRADERS-88 is refusing to act upon such instructions. instruction from the Client at the time stipulated by TRADERS-88, TRADERS-88 may
Authorisations and Instructions provided via treat the option or the transaction as abandoned by the online trading facility the Client. If a transaction can
- TRADERS-88 will not be be prolonged on expiry, deemed to have any order TRADERS-88 may in its or communication absolute discretion, choose to electronically transmitted by prolong or to close such the Client until TRADERS-88 transaction; and has actual knowledge of any
10.1. In general, TRADERS-88 shall act according to instructions as soon as practically possible and shall, as far as trading instructions are concerned, act within a time frame reasonable such order or communication. The mere transmission of an instruction by the Client shall not constitute a binding contract between TRADERS-88 and the Client. The terms of any order or communication electronically transmitted to the Client may be subject to change or correction. Regardless of the fact that the online trading facility might confirm that a Contract is executed immediately when the Client transmits instructions via the online trading facility, the confirmation forwarded by TRADERS-88 or made available on the online trading facility constitutes TRADERS-88’s confirmation of a Contract. Any instruction sent electronically shall only be deemed to have been received and shall only then constitute a valid instruction and/or binding Contract between TRADERS-88 and the Client when such instruction has been recorded as executed by TRADERS-88 and confirmed by TRADERS-88 to the Client including through a trade confirmation and/or account statement:
10.2. The Client acknowledges and warrants that it has received a password granting it access to the online trading facility; is the sole owner of the password provided; and accepts full responsibility for any transaction that may occur on an account opened, held or accessed through the use of the password provided to the Client by TRADERS-88, even if such use may be unauthorised or wrongful. The Client agrees to accept full responsibility for the use of the online trading facility, for any orders transmitted through the online trading facility and for all communications and the accuracy of all information sent via the online trading facility using the Client’s name, password or any other personal identification means implemented to identify the Client.
- The Client may request on any given Business Day, via
11.2. The Client warrants and agrees that any person who is in possession of any password is authorised by the Client, and the Client acknowledges that they will be responsible for any actions on their account associated with the use of its password.
telephone or otherwise, TRADERS-88 to quote a price at which TRADERS-88 may be prepared to enter into a financial product transaction. The Client acknowledges that a price quotation pursuant to this request does not constitute an offer to enter into a new or close an existing financial product:
11.3. The Client agrees to notify TRADERS-88 immediately should the Client become aware of any unauthorised use, loss or theft of the Client’s, username, password or account numbers; or inaccurate information with
11.4. Upon receiving the quote from TRADERS-88, the Client may via telephone or otherwise offer to enter into a financial product transaction with TRADERS-88 at the price quoted by TRADERS-88.
respect to the content of
11.5. TRADERS-88 is in no way statements including, cash obliged to accept the Client’s balances, open positions or offer to enter into a financial transaction history. product transaction and, without
Entering into a limitation, is not obliged to accept the Client’s offer to enter financial product transaction into a financial product transaction, if the Client has exceeded or would exceed a predetermined limit imposed on the Client under these Terms & Conditions; or until TRADERS-88 has received from the Client the Initial Margin where required, in the form of cleared funds. TRADERS-88 will promptly advise the Client should TRADERS-88 decide not to accept a Client’s offer to enter into a financial product transaction.
11.6. The Initial Margin where required to enter into a financial product transaction, if not already received from the Client, will be payable to TRADERS-88 upon acceptance by TRADERS-88 of the Client’s offer to enter into the financial product transaction.
11.7. Should TRADERS-88 accept the Client’s offer to enter into a financial product transaction, TRADERS-88 will issue to the Client an electronic confirmation shortly after the financial product transaction has been entered into. This confirmation will be in the form of a deal confirmation. Failure by TRADERS-88 to issue a deal confirmation will not prejudice or affect the relevant financial product transaction. TRADERS-88 will not bear any liability whatsoever resulting from the failure to issue a deal confirmation.
11.8. The Client agrees to examine the terms of each deal confirmation immediately upon receipt and the Client agrees that the contents of the deal confirmation, in the absence of manifest error, will be conclusive evidence of the executed deal, unless within 48 hours of issue of a deal confirmation the Client notifies TRADERS-88 of any disputed detail in the deal confirmation received by the Client. Upon receipt of written notice within the or refuse in its absolute discretion.
48hour period of the disputed detail, TRADERS-88 will investigate the dispute and with the co-operation of the Client, will endeavor to resolve the dispute in good faith. Notwithstanding any such dispute, the Client will continue to satisfy any obligation to pay Margin calls made by TRADERS-88 in respect of the transaction as if the deal confirmation was correct and its details were not the subject of dispute.
11.9. If the Client provides TRADERS-88 with standing instructions to enter into a financial product transaction when a particular price level is reached in the market of the underlying security, the Client acknowledges that the price at which the financial product transaction is entered into may not be the same as the price requested by the Client as TRADERS-88 may elect not to enter into the financial product transaction until it has satisfied itself that it can hedge its 12.6. In its absolute discretion, TRADERS-88 reserves the right to exposure in the underlying security. limit the value of financial product transactions the Client
Execution of orders may have outstanding under these Terms
- TRADERS-88 undertakes & Conditions. Should the Client wish to enter into any further financial product transactions, the Client must seek and obtain approval from TRADERS-88, which TRADERS-88 may grant and the Client acknowledges that in respect of dealings in the financial products, and in compliance with the applicable Companies Act and exchange operating rules requirements, TRADERS-88 shall execute all dealings in the sequence in which they are received and recorded, unless it would be fair and equitable to allocate such contracts on a different basis:
12.1. TRADERS-88 shall provide the Client with contract notes and monthly statements in accordance with applicable laws and regulation;
12.2. It is the responsibility of the Client on receipt to carefully check all transaction confirmations and statement documentation (whether received/accessed electronically or otherwise) and to bring any errors or omissions to the attention of TRADERS-88 in writing within the time specified by TRADERS-88. In the absence of such written objection, the contract notes and monthly statements shall be deemed correct in all respects; and
12.3. Orders may be placed as market orders to buy or sell an instrument as soon as possible at the price obtainable in the market, or limit and stop orders to trade when the price reaches a predefined level, as applicable to the various instruments offered. Limit orders to buy and stop orders to sell must be placed below the current market price, and limit orders to sell and stop orders to buy must be placed above the current market price. If the bid price for sell orders or ask price for buy orders is reached, the order will be filled as soon as possible at the price obtainable in the market. Limit and stop orders are thus not guaranteed executable at the specified level or amount, unless explicitly stated otherwise by TRADERS-88.
executed at the stop loss price.
12.4. TRADERS-88 may, in its absolute
12.5. TRADERS-88 may at its sole discretion, execute a stop discretion aggregate the Client’s loss order in relation to any orders with its own orders or Contract where there are orders of associates and/or reasonable grounds to believe persons connected with that subsequent price TRADERS-88 including movements may be averse to employees and other clients. In the Client. TRADERS-88 shall not addition, TRADERS-88 my split be liable to the Client for any the Client’s orders. Orders will failure to exercise this discretion. generally be aggregated or split A stop loss order is triggered where TRADERS-88 reasonably when the Client has a sell believes it to be in the overall position and the contract is best interests of Clients, but the traded at or above the stop loss Client acknowledges that on price; or when the Client has a some occasions the buy position and the contract is consequence of the aggregation traded at or below the stop loss or splitting may result in a less price. Once a stop loss order is favorable price than the Client’s triggered or executed it becomes order having been executed a market order and TRADERS-88 separately. shall use its best endeavors to execute the market order. The Deposits and margins – acceptance of a stop loss order is not a guarantee or Cryptocurrencies representation by TRADERS-88 that the stop loss order can be
- The Client agrees and acknowledges that:
13.1. TRADERS-88 may advise the
Client of the need to provide an initial or variation deposit or Margin by way of the payment of money, or if TRADERS-88 so agrees, the lodgment of Collateral, in such amount as determined by TRADERS-88 in its sole discretion, feels is necessary to protect itself from the personal obligation incurred by dealing in the financial products on behalf of the Client. Prior to entering into a financial product transaction, TRADERS-88 may require the Client to deposit cleared funds. The amount required by TRADERS-88 and the time at which it is required will be at the absolute discretion of TRADERS-88. TRADERS-88 is not obliged to permit any offset of any moneys or Collateral so required by TRADERS-88;
13.2. TRADERS-88 reserves the right whenever it deems appropriate to raise or lower the Margin or deposit requirements, which may apply to existing positions as well as to new positions. The Client will comply with and meet all such calls in accordance with these Terms & Conditions by depositing in cleared funds the sum requested or lodging the Collateral agreed within the time specified by TRADERS-88. TRADERS-88 may determine the amount and time in its absolute discretion. Should TRADERS-88 require additional funds from the Client to pay Variation Margin (“Margin Call”) the Client must pay the amount called by TRADERS-88 immediately upon being given notice by TRADERS-88. In all respects, time shall be of the essence for all payment obligations of the Client;
13.3. Should TRADERS-88 make a Margin Call, the Client acknowledges and agrees that TRADERS-88 may refuse any request by the Client to enter into any further financial product transaction positions required; until TRADERS-88 has confirmed the receipt of the Margin Call amount in the form of cleared funds;
13.4. Where the Client has not checked the trading platform for Margin call notifications, and so has not met them in a timely manner, all margined positions will be closed out by
13.5. Any exercise by TRADERS-88 of any power TRADERS-88, without further reference to the Client;
or right under this clause, including, without limitation, the calling of Margin, shall be binding on the Client;
13.6. TRADERS-88 may, in its discretion, request the Client to make all Margin and deposit payments with respect to any exchange traded or over-the-
13.7. Where the Client trades via the trading platform, Margin calls will be notified via ‘pop-up’ screens on the trading platform, and Client is required to log in to the system on a daily basis when they have open positions to ensure they receive notification of any such counter financial product transactions directly to a broker affiliated with TRADERS-88. TRADERS-88 agrees that any payments made by the Client to such affiliate of TRADERS-88 pursuant to such a request will satisfy the Client’s obligation to make payments to TRADERS-88;
Margin calls. It is the client’s sole responsibility to monitor and manage their open positions and exposures, and ensure Margin calls are met as
13.8. Liability for a deposit or Margin arises at the time it is executed irrespective of the time at which any call is made, and such liability is not limited to the amount, if any, deposited with TRADERS-88;
13.9. The Client is responsible to pay any deficit owing to TRADERS-88 after closure, and if the Client defaults or refuses such payment, TRADERS-88 may apply the proceeds of any assets held by TRADERS-88 against that deficit;
13.10. A Margin call will not be considered to have been met UNLESS AND UNTIL cleared funds have been received by TRADERS-88 in the nominated account;
13.11. Should the Client fail to meet a Margin call, TRADERS-88 may without prejudice to any other rights or powers under these Terms &Conditions, and in its absolute discretion, close out, without notice, any or all of the Client’s exchange traded or over-the- counter financial product Contracts or refuse any request by the Client to enter into any further Contracts;
13.12. No credit shall be extended directly or indirectly to the Client by TRADERS-88, unless otherwise agreed in writing;
13.13. Subject to the Client meeting all Margin Call obligations, TRADERS-88 may permit the Client to withdraw from its account any excess Net free equity;
13.14. Margin deposited by the Client will not fall due for repayment until the Client’s obligations under these Terms & Conditions and under or in respect of any other account between TRADERS-88 and the Client are satisfied in full. Until this time, Margin will not constitute a debt due from TRADERS-88 to the Client nor will the Cryptocurrency, TRADERS-88 will determine at Business Client have any right to receive payment of these funds.
Close the Contract Value of the Cryptocurrency.
- If the Contract Value
14.1. Deposit via Wire Transfer will require the Client to use a bank account in the Client’s name. An authentic confirmation code must be provided by the Client to prove the source of the funds. Any withdrawal of Wire determined is higher than the Contract Value determined in respect of the Business Close on the previous Business Day, then the Short Party must pay to the Long Party the difference.
Transferred funds shall only be refunded to the same bank account that the funds were originally received from.
14.2. If the Contract Value determined is lower than the Contract Value determined in respect of the Business Close on the previous Trade Contracts
Business Day, then the Long Party must pay to the Short Party the difference. 15. Payments for Difference.
The Client agrees and
- The Contract Value at Business acknowledges that:
Close on the Business Day on
15.1. Following Business Close on each Business Day during the term of an open which the Cryptocurrency is entered into is determined using the Underlying Security Price.
15.2. The Contract Value determined under will ordinarily be the closing price of the Underlying Security quoted by the Relevant Exchange. Where TRADERS-88 determines that the Contract Value of a Cryptocurrency at Business Close cannot be determined on that basis for any reason, the Contract Value will be the value determined by TRADERS-88 in its sole discretion.
15.3. Without limiting, if at any time trading on a Relevant Exchange is suspended or halted in any Underlying Security, TRADERS-88 will, in determining the Contract Value, at its discretion have regard to the last traded price before the time of suspension or halt.
- The Client agrees and acknowledges that:
16.1. If the Client is a Long Party, the Client’s account will be credited with an amount equal to any gross unfranked amount of any dividend or distribution payable to the holder of the Underlying Security (after any applicable withholding tax, other local taxes or other charges as determined by TRADERS-88) multiplied by the Contract Quantity on the first Business Day immediately preceding the ex-dividend date.
16.2. If the Client is a Short Party, the
Client’s account will be debited with an amount equal to any gross unfranked amount of any dividend or distribution payable to the holder of the Underlying Security (plus, an amount representing any applicable withholding tax, other local taxes or other charges as determined by TRADERS-88) multiplied by the Contract Quantity on the the Client’s obligation to notify TRADERS-88 as soon as possible first Business Day following the ex-dividend date.
(by telephone or otherwise) as to whether the Client is willing to accept the Closing Price. Should the Client accept the Closing a Cryptocurrency
Closing Price the Cryptocurrency, or relevant
- The Client agrees and acknowledges that:
portion of the Cryptocurrency, will be closed on the Closing Date.
17.1. At any time, the Client may give TRADERS-88 by telephone or otherwise notice of its intention to close any Cryptocurrency (whether in whole or part) by specifying the Underlying Security and the proportion of the Cryptocurrency that the Client wishes to close.
17.2. At the Close of Business on the Closing Date, should there be a difference between the Closing Value and the Contract Value of the Cryptocurrency (or portion of it closed) it must be accounted for in the following way – (i) Should the Closing Value be greater than the 17.2. Upon receipt of a Closing Notice, TRADERS-88 shall use reasonable endeavors to provide a quote for the Closing Price and notify the Client of that quote (by telephone or otherwise). It is
Contract Value, the Short Party must pay to the Long Party the difference; and (ii) Should the Closing Value be less than the Contract Value, the Long Party must pay to the Short Party the difference.
17.3. If a company, whose security represents all or part of the subject matter of a Cryptocurrency, becomes externally administered, the Cryptocurrency is taken to have been closed at the time that such administration commences. The Closing Price shall be determined by TRADERS-88 who may have regard to any factors it considers appropriate including, for example, the last traded price of the Underlying Security.
17.4. Without limiting TRADERS-88’s discretion, if any of the Underlying Securities cease to be quoted on a Relevant Exchange, or are suspended from quotation, or subject to a trading halt for 5 or more consecutive Business Days, TRADERS-88 may, in its absolute discretion, elect to terminate the relevant Cryptocurrency by providing written notice to the Client.
17.5. If at any time a take-over offer is made in respect of an Underlying Security, then at any time prior to the Closing Date of such offer, TRADERS-88 may close the Cryptocurrency. References to “offer”, “take-over” and “closing date” in these Terms & Conditions
17.6. It may not be possible to close out a Cryptocurrency if there is a suspension of trading or a trading halt in respect of the Underlying Security. In such a circumstance, TRADERS-88 may decide, in its absolute discretion, not to close a Cryptocurrency;
17.7. TRADERS-88 may close a Cryptocurrency if the aggregate amount of Margin represented by payments for difference payable by the Client in relation to a
17.8. Without limiting the above, if Cryptocurrency exceeds 50% of at any time the Initial Margin in respect of that Cryptocurrency;
trading on a Relevant Exchange is suspended or halted in any Underlying Security,
17.9. As at Business Close on the day that a Cryptocurrency is closed out, TRADERS-88 will calculate the remaining payment rights and obligations of the Client and TRADERS-88 based on the TRADERS-88 will, in determining the Closing Value of a Cryptocurrency, at its discretion have regard to the last traded price before the time of suspension or halt; and difference between the Closing Value and the Contract Value at the time it was entered into and taking into account any Margin which has already been debited from or credited to the Client’s account in respect of that
17.10. All determinations and calculations made by TRADERS-88 pursuant to these Terms & Conditions will be binding on the Client in the absence of manifest error.
Settlement of Positions
17.11. Where TRADERS-88 determines that the Closing Value of a Cryptocurrency cannot be
- The Client agrees and acknowledges that: calculated on the Closing Date for any reason, the Closing Value will be the value determined by TRADERS-88 in its sole discretion;
18.1. Payments to be made to the Client with respect to any Cryptocurrency will be made in accordance with this clause.
18.2. When a payment for difference is made, or a Cryptocurrency is closed out in accordance with these Terms & Conditions
18.2.1. TRADERS-88 will credit to the Client’s account any amount payable by TRADERS-88 to the Client; or
18.2.2. The Client must pay to TRADERS-88 any amount payable by the Client to TRADERS-88 in such currency as TRADERS-88 may require in cleared funds within 24 hours of being advised of the amount so payable.
18.3. If there is then sufficient
Excess Variation Margin any amount owing by the Client under this clause may be settled in whole or in part by debiting the Client’s account.
18.4. TRADERS-88 reserves the right to offset any money owed to the Client under these Terms & Conditions or any other agreement or Contract against any money owed by the Client under these Terms & Conditions or any other agreement or Contract.
18.5. If the Client has requested payment of any money owed to the Client under this clause, TRADERS-88 will deduct that money from the Client’s account and pay it to the Client by electronic transfer or in such other manner as may be agreed between TRADERS-88 and the Client. If the Client has not requested payment of any money so owed to the Client it will be retained in the
19 Client’s account. of any of the following:
19.1. If any Underlying Security becomes subject to possible adjustment as result of any of the events set out clause, TRADERS-88 shall determine appropriate adjustment, if any, to the in this the be
19.2. The events to which this clause refers are the declaration by the issuer of the Underlying Security of the terms shares, in any case for payment (in money cash or money’s worth) at less than the prevailing market price per share as determined by TRADERS-88;
19.2.1. A subdivision, consolidation or reclassification of shares, or a free distribution of shares to existing holders by way of bonus, capitalization or similar issue; made Underlying Contract substantially position the will determined conclusive the to the Contract Value of that
Security and/or the related Quantity to place the parties in the same economic they would have been in had event not occurred. The adjustment take effect as at the time by TRADERS-88, and will be and binding on the Client in absence of manifest error.
19.2.2. A distribution to existing holders of the underlying shares of additional shares, other share capital or securities granting the right to payment of dividends and/or proceeds of liquidation of the issuer equally proportionately with such payments to holders of the underlying shares, or securities, rights or warrants granting the right to a distribution of shares or to purchase, subscribe, or receive
- The Client agrees and acknowledges that:
20.1. Any event in respect of the shares analogous to any of the foregoing events or otherwise having a dilutive or concentrative effect on the market value of the shares; and
20.2. Any other event in respect of which TRADERS-88 (in its absolute discretion) decides an adjustment is appropriate.
20.3. If at any time a take-over offer is made in respect of an Underlying Security, then at any time prior to the closing date of such offer, TRADERS-88 may give the Client notice of TRADERS-88’s intention to close the Cryptocurrency. If that happens, the Client is taken to have given a Closing Notice, with the Closing Price being the price notified to the Client by TRADERS-88.
20.4. Without limiting the above, if at any time an event occurs and TRADERS-88 determines (in its absolute discretion) that it is not reasonably practicable to make an adjustment under this clause, TRADERS-88 may at any time after it becomes aware of the event give the Client notice of TRADERS-88’s intention to close the Cryptocurrency. If that happens, the Client is taken to have given a Closing Notice, with the Closing Price being the price notified to the Client by TRADERS-88.
- Interest payments owing in respect of borrowings by the Long Party under a Cryptocurrency or in respect of borrowings by TRADERS-88 from the Short Party under a Cryptocurrency shall accrue and be payable on a daily basis at TRADERS-88’s prevailing rates of interest (determined at TRADERS-88’s sole discretion from time to time), and shall be settled by TRADERS-88 on each day by
21.1. The rates of interest applicable debiting or crediting the Client’s account with the daily interest rate differential between the amount of interest payable by the Client under this clause may be as agreed between the Client and TRADERS-88 from time to time and, in the absence of such agreement, shall be a rate determined by TRADERS-88 in its absolute discretion. and the amount of interest payable by TRADERS-88 to the Client. In the event that Commissions Fees and Expenses there is insufficient Excess Variation Margin in the
- The Client agrees to pay: Client’s account, the Client acknowledges that any amount due under this clause is a debt due and owing by
22.1. All legal costs incurred by the Client associated with entering into these Terms the Client to TRADERS-88: &Conditions and all taxes and expenses incurred by the 20.1. In debiting or crediting interest to the Client’s account,
Client in connection with these Terms & Conditions; TRADERS-88 may charge or pay the Client interest at a rate different to the interest rate which TRADERS-88 is charged or paid on equivalent borrowings of foreign currency (or otherwise) by a bank or counterparty and may retain the difference.
22.2. Commission upon the execution of any requested financial product transaction at such rate as is agreed separately between TRADERS-88 and the Client, as well as an amount equal to any other fee charged or levied on TRADERS-88, or other expense incurred by TRADERS-88, arising from any action taken pursuant to these Terms & Conditions;
22.3. TRADERS-88 reserves the right to change an Account Type’s stated commissions, swap and leverage in the Client’s favour. Where it is no longer appropriate, TRADERS-88 retains the sole discretion to declare such beneficial change in Account Type void and reinstate the Account type’s stated commissions, swap and leverage at the advertised values and apply it retrospectively. For example, the Client commits to $ 100, 000 deposit in order to qualify for a reduced commissions, swaps and leverage account type, but later does not honor this commitment and rather makes a deposit of $ 50,000, and proceeds to trade with this amount, thus benefitting from the account type. In this case, TRADERS-88 reserves the right to retrospectively apply the original commission, swap and leverage structure for the applicable Account Type and claim the outstanding commissions for past trades.
22.4. All stamp duty, duties and taxes (including Sales Tax / VAT) payable on or pursuant to these Terms & Conditions;
22.5. All amounts payable as a result of making or taking delivery or making cash adjustment in accordance with the terms of an exchange traded or over- the-counter financial product transaction;
22.6. An amount equivalent to the funding costs incurred by TRADERS-88 in respect of all Clients NOT using the wire transfer method of payment, where a minimum trading volume equivalent to 1% of the deposit accrue and be calculated daily from the date payment was due until the date the amount is not reached prior to withdrawal of the funds. For example, Client pays in full and shall be compounded monthly; and on a $10,000 deposit, 1% (i.e. a minimum of 100 lots) must be traded, otherwise TRADERS-88 will return withdrawn funds less its current funding costs of 4.5% (or whatever amount has actually been paid by TRADERS-88) upon withdrawal of the funds by Client.
22.7. Interest is calculated on the basis of net free equity on each account, unless specifically agreed otherwise. Interest will be charged on the full negative net free equity on any account, regardless of whether the Client holds other accounts which have positive net free equity. Please
22.8. All amounts incurred by TRADERS-88 as a result of the Client’s default under the terms of these Terms & Conditions, including without limitation, all reasonable legal costs on a note that this means that if you hold multiple accounts, you may incur interest charges although the aggregate net free equity position of all of your accounts may be positive. solicitor/client basis;
22.9. The Client authorises TRADERS-88 to 21.8. Interest, in respect of any unpaid amount due under these Terms & Conditions, at a rate of three per cent per annum above LIBOR (at a minimum of 10% per annum). Such interest shall appropriate, transfer, credit, apply or pay monies that may be received by TRADERS-88 or held by TRADERS-88 on the Client’s behalf in payment of any amounts which may be outstanding by the Client to TRADERS-88 or TRADERS-88’s agent in a transaction effected on the Client’s behalf.
22.10. Where amounts are payable by one party to the other, netting principles shall apply to enable the party owing the larger amount to pay the excess only to the other party. Amounts may be converted into the same currency in accordance with these Terms & Conditions.
22.11. TRADERS-88 may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance or interest rates on debit balances, fees (including royalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, without notice.
22.12. The Client acknowledges that should they affect a financial product transaction with TRADERS-88, the Client must pay all transaction charges, fees, Margins, settlements, interest and any other amounts due under these Terms & Conditions on demand by TRADERS-88 in cleared funds or otherwise as required in accordance with the terms of these Terms & Conditions.
22.13. The Client confirms and acknowledges that TRADERS-88 is permitted to deduct, without further reference to the Client, charges relating to any services provided by TRADERS-88 including administration charges (including but not limited to fees associated with returned transfers, payment processing, debt collection and telephone transcript copies), charges relating to the use of its online trading facility and royalties payable to any the use of such prices or information, TRADERS-88 shall have the right to exchange from the Client’s account held with TRADERS-88 during the full term of these Terms & Conditions affect the payment of any such royalty or other fee by debiting the Client’s account on a monthly basis. whilst the Client utilises such services.
22.14. Payments by the Client to TRADERS-88 in accordance with these Terms & Conditions must be made without any
22.15. Any commissions payable by the Client with respect to dealings conducted on behalf of the Client by their financial adviser will be deducted from the Client’s account by TRADERS-88 for remittance to the Client’s financial adviser pursuant to details provided in writing by the Client to TRADERS-88. Adviser commissions are payable immediately upon the entering into offset, counterclaim or condition and without any deduction or withholding for any tax or any other reason unless the deduction or withholding is required by applicable law. Should the Client be required to make any form of deduction in respect of tax from any payment to be made or if TRADERS-88 is required to pay any tax in respect of any payment made in relation to these Terms and the closing of a financial product transaction. & Conditions at the Client’s request the
22.16. Should the Client be given access through the electronic platform or otherwise to prices or information provided by any exchange to which a royalty or other fee must be paid for Client agrees to keep TRADERS-88 indemnified against that tax and agrees to pay to TRADERS-88 any additional amounts required to ensure TRADERS-88 receives the full net amount that is equal to the amount TRADERS-88 would have received had a deduction, withholding or payment of tax not been made.
22.17. The Client agrees that TRADERS-88 may at any time share transaction fees and charges with any other persons without being required to disclose the sharing of such fees and charges to the Client, unless such disclosure is required by law.
Delivery (Futures only)
- The Client agrees and acknowledges that:
23.1. TRADERS-88 does not permit entry into delivery against exchange traded positions;
23.2. For Contracts where there is no cash settlement, all open positions must be closed out in the current month, before the delivery period; and
23.3. TRADERS-88 is authorised by the Client to close out a position in the current month of a deliverable Contract by entering into a contract which is the opposite of the original position.
- The Client acknowledges and agrees that where one of the following events occurs, TRADERS-88 may take any such action provided below:
24.1. The Client fails to meet a call for a deposit or Margin or make any other payment when due under these Terms & Conditions; similar to any of these events happens to the Client anywhere in the world;
24.2. The Client is not contactable by
24.3. The Client fails in any respect fully and TRADERS-88 (and has not made alternative arrangements) within the time specified by TRADERS-88 in order for TRADERS-88 to obtain instructions (where required);
promptly to comply with any obligations to TRADERS-88 under these Terms & Conditions or otherwise or if any of the representations or information supplied by the Client are or become inaccurate or misleading in
24.5. The Client dies or becomes of any material respect; unsound mind, or the partnership is dissolved or ceases to exist for any reason;
25.5. Any guarantee, indemnity or security for the Client’s obligations is withdrawn or becomes defective,
24.6. The Client suspends payment of its debts, makes any composition with its insufficient or unenforceable in whole or in part; creditors, has a receiver appointed over some or all of its assets, takes or has any proceedings taken against it in bankruptcy or takes or allows any steps to be taken for its winding up (except for a solvent amalgamation or
24.7. Any security created by any mortgage or charge binding the Client’s assets becomes defective, insufficient or unenforceable in whole or in part; reconstruction approved in advance in writing by TRADERS-88) or anything
24.8. These Terms & Conditions has been terminated;
24.9. It becomes or may become unlawful for TRADERS-88 to maintain or give effect to all or any of the obligations under these Terms & Conditions or otherwise to carry on its business or if TRADERS-88 or the Client is requested not to perform or to close out a transaction (or any part thereof) by any governmental or regulatory authority whether or not that request is legally binding; or
24.10. TRADERS-88 considers it necessary to do so for its own protection.
24.11. If the Client becomes aware of the occurrence of any event referred to above, it shall notify TRADERS-88 immediately.
24.12. If any event referred to above takes place, TRADERS-88 shall at its absolute discretion be entitled, but not obliged, to, and at the expense of the Client:
24.13. Terminate these Terms and Conditions immediately;
24.14. Close out any or all of the Client’s Contracts;
24.15. Close out, exercise or abandon any option not yet exercised;
24.16. Cover positions by entering into further contracts;
24.17. Cancel any outstanding orders in order to close the Client’s account;
24.18. Convert any amount owed by the Client to TRADERS-88 into currency at any time on or after payment is due (until payment is received in full);
24.19. Satisfy any obligation the Client may have to TRADERS-88 out of any property, money or security belonging to the Client in TRADERS-88’s custody or control, and enforce any such asset or security (at the Client’s expense) held by TRADERS-88 in such manner as it deems appropriate, but to a maximum amount equal to all sums due or to become due to TRADERS-88 from the Client;
24.20. Charge the Client with all of the costs, expenses and losses incurred by TRADERS-88 as a result of entering into, or closing out transactions pursuant to these Terms & Conditions; and
24.21. To take any such action a reasonably prudent person would take in the circumstances to protect the personal obligation incurred when dealing on behalf of the Client. Indemnity
- The Client will indemnify and keep indemnified TRADERS-88 and its employees, contractors or agents from and against any cost, expense, claim, action, suit, loss, damage or other amounts whatsoever arising out of any default, whether by act or omission, of the Client under these Terms & Conditions or anything lawfully done by TRADERS-88 in accordance with these Terms & Conditions or by reason of TRADERS-88 complying with any direction, request or requirement of an exchange or its clearing house or other regulatory authority.
25.1. TRADERS-88 shall not be responsible or liable in any way for any delay or error in the transmission or execution of any dealing by it under these Terms & Conditions caused by the Client or any other third party, including but not limited to trading floor or exchange system operational failure or action, bank delay, postal delay, failure or delay of any fax or electronic transmission or delay caused by accident, emergency or act of god.
25.2. No warranty is provided by TRADERS-88 in relation to information or advice sourced from third parties, and all information or advice provided by TRADERS-88 to the Client is for the private use of the Client and is not to be communicated to any third party without the prior written consent of TRADERS-88.
25.3. TRADERS-88 makes no representation or warranty as to the results of dealing in the financial products, and shall not be liable for any damage or loss suffered or incurred by the Client arising out of or in connection with any advice, forecast, or opinion to the Client in relation to price movements or positions or to the likely profitability of any transaction.
24.4. These indemnities shall survive any termination of the Client relationship.
Limitation of Liability
- The Client declares it has read, understood and accepted all of the terms and conditions outlined in these Terms & Conditions. The Client agrees that when entering into a financial product transaction with TRADERS-88 the Client is relying on its own judgment and, to the extent permitted by law, in the absence of negligence, fraud or dishonesty by TRADERS-88 or any of its employees, any of TRADERS-88’s employees or agents. agents and
25.1. TRADERS-88 shall bear no liability representatives in whatsoever in respect of any impact relation to on the Client caused directly or TRADERS-88’s activities as the indirectly by the issuance of any holder of an AFSL, TRADERS-88 instructions by the Client to shall bear no responsibility or TRADERS-88. liability of any kind whatsoever with respect to any advice or
26.2. In the absence of negligence, fraud, recommendation given or views dishonesty or misconduct by expressed to the Client, whether TRADERS-88 or any of its employees, or not the advice, agents and representatives and to the recommendation, or views full extent of the law, TRADERS-88 bears expressed was as a result of a no responsibility or liability for any request by the Client, nor will Client’s losses or damages whatsoever TRADERS-88 be liable in any incurred as a result of any delay in respect of any losses incurred by transmitting or a failure to transmit the Client resulting from dealing funds caused by reasons outside the in any product or products control of TRADERS-88 or as a result of offered by TRADERS-88 including Cryptocurrencies:
TRADERS-88’s failure to execute orders in a timely manner or administer these Terms & Conditions in the manner contemplated by these Terms & 24.1. TRADERS-88 will bear no liability Conditions for reasons beyond its whatsoever in respect of any private control and, without limiting the dealings, contracts, transactions or indemnity in the terms and relationships between the Client and agreement, the Client indemnifies and agrees to keep TRADERS-88 and its employees, agents and representatives (for whom TRADERS-88 acts as agent) indemnified and against all sums of money, actions, proceedings, suits, claims, demands, damages, costs, expenses and other amounts whatsoever arising in respect of any such loss or damage. Reasons outside TRADERS-88’s control may include but are not limited to, exchange control or other government restrictions, exchange or market rulings, suspension of trading, power failure, telecommunication failure, strikes or war.
26.3. TRADERS-88 will not be liable for any losses or damages arising from or in connection with any Cryptocurrency as the result of any moratorium, suspension or delisting of any Underlying Security or any other occurrence in relation to a Relevant Exchange.
26.4. All such available exemptions and limitations of liability shall apply in respect of TRADERS-88’s employees, officers, agents and representatives.
26.5 TRADERS-88 will not be liable for any losses or damages arising from or in connection with any differences in rates of exchange relating to currencies used by the Client when using the services of TRADERS-88. This shall include but will not be limited to the difference between the exchange rate when depositing compared to the exchange rate when withdrawing funds.
26.6. TRADERS-88 reserves the right o terminate the Client’s trading
26.7. TRADERS-88 complies with international standards and regulations to ensure a safe and secure trading environment. TRADERS-88 takes matters of compliance and security very seriously. account without notice, should the Client not produce such requested documents. Further to this, the Client agrees that the Client shall only be legible for the withdrawal of any funds from the Client’s trading account if the Client has produced all requested KYC
26.8. By verifying the Client’s documents. account, TRADERS-88 fulfils its compliance obligations such as Dormant Accounts
Know Your Customer (KYC), Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) and ensures the security and integrity of the Client’s account.
27.1. The Client acknowledges and confirms that any trading account held with TRADERS-88 in which he/ she has not placed a trade and/ or made a deposit for a period greater than 60 days 26.3. In order to open a trading account, the Client agrees to produce any documents that may be requested by TRADERS-88 in order to fully verify the authenticity of the Client. shall be classified by TRADERS-88 as an Inactive Account. The Client further acknowledges and confirms that such Inactive Accounts will be subject to a 10% or UST 100 handling fee, whichever amount is greater, per month. The Client further agrees that any Inactive
Accounts having zero or less balance shall be considered as Dormant Accounts. For the reactivation of an Inactive and/ or Dormant Account you must contact TRADERS-88. The Inactive and/ or Dormant Account will then be reactivated subject to the sole discretion of TRADERS-88 and, if required, up-to-date Client identification documentation to be provided to the Company.
27.2. In the event that the Client has two or more accounts open with TRADERS-88, the above Dormant Account Procedure will not be applied unless all active accounts become Inactive.
Withdrawals and Refunds
28.1. The Client has the right to withdraw the funds which are free from any obligations from his/ her trading account without closing the said account. Any withdrawals should be made using the same method used by the Client to fund his/ her account and to the same remitter.
28.2. The minimum withdrawal amount for funds deposited via credit/debit card is UST 50 and the minimum withdrawal amount for funds deposited via wire transfer is UST 100. All withdrawal requests will be subject to a 5% fee from the requested withdrawal amount.
28.3. If the Client has opted for a Credit Token and has not reached the withdrawal requirements for the Credit Token and then proceeds to request a withdrawal, the withdrawal fee deductible shall be 10% of the total deposit made by the Client. request. After the withdrawal is approved and processed, Client
28.4. TRADERS-88 reserves the right to decline or delay withdrawal (1) with specific payment method may be required to wait for Twenty-Eight (28) additional days to see the funds reflected in the Client’s bank account. and to suggest another in which case the Client will be required to Dispute Resolution place a new withdrawal request; (2) if the documentation provided in relation to a withdrawal request is incomplete until the
If a dispute arises between TRADERS-88 and the Client relating to any transaction (a)
Client complies with the request; “Disputed Transaction”), (3) if the Client has open TRADERS-88 may close out or positions at the time of take any other action it withdrawal request. considers appropriate in relation to the Disputed Transaction
28.5. TRADERS-88 reserves the right to decline a withdrawal of profit in instances where the Client has not provided sufficient Know Your Customer documents to TRADERS-88. without previously notifying and/or without having received instruction from the Client. TRADERS-88 will try to notify the Client (verbally or in writing) what action it has taken, as soon afterwards as it practically can, 28.6. When a withdrawal request is submitted, TRADERS-88 may but if it does not, the validity of its action shall not be affected. take up to Seven (7) business days to review the Client’s
- These Terms & Conditions can be terminated at any time by either party giving 10 Business Days written notice to the other party:
29.1. Unless otherwise agreed in writing between the parties upon termination of these Terms & Conditions TRADERS-88 will close out all of the Client’s exchange traded or over-the-counter financial product transactions and will close out, abandon or exercise any option not yet exercised, at TRADERS-88’s discretion.
29.2. Should any event occur which has the effect of making or declaring it unlawful or impracticable for TRADERS-88 to offer financial product transactions to the Client in accordance with the terms outlined in these Terms & Conditions, TRADERS-88 may immediately terminate these Terms & Conditions by providing the Client with written notice.
29.3. In the event of these Terms & Conditions being terminated, a Closing Notice must be provided by the Client in respect of all open positions. Such notice must be provided within 5 Business Days of the termination date. Should the Client fail to unwind any open Cryptocurrency position within the 5 Business Days’ notice period, TRADERS-88 reserves the right to close out Cryptocurrency positions as if a Default Event had occurred in accordance with these Terms & Conditions.
29.4. Termination of these Terms & Conditions and/or any Contract or agreement shall not release either party from any existing obligations or from any liabilities for any antecedent breach of any of the terms of these Terms & Conditions and will not
- TRADERS-88 may amend relieve the Client of any obligations the Client may owe to TRADERS-88 in accordance with these Terms & Conditions these Terms & Conditions by giving the Client thirty days written notice of any amendments: prior to its termination.
30.1. In the event that any of the provisions contained in these
30.2. Rights under these Terms & Conditions can only be waived in writing, such waiver not to affect the waiving party’s rights or entitlements in respect of subsequent breaches of these Terms & Conditions and/or any Terms & Conditions are found to be invalid or unenforceable, such provisions shall be deemed deleted, and the validity and enforceability of the remaining provisions shall continue unimpaired. Contract Failure to compel performance shall not be construed as a waiver.
30.3. If a party fails to exercise or delays in exercising any right under these Terms &
30.4. If these Terms & Conditions are terminated, the Client acknowledges and agrees that all open positions must be closed within 5 Business Days
Conditions, by doing so it does not waive such right. The rights provided in these Terms & Conditions do not exclude other rights provided by law. of the date of termination
30.5. The Client may not assign or General otherwise transfer its rights or obligations under TRADERS-88 shall have no these Terms & Conditions duty to disclose any or any transaction, personal information of its without the express employees. written consent of TRADERS-88.
30.6. The Client acknowledges and agrees that TRADERS-88 is permitted to carry out an electronic database search and search credit reference agencies in order to verify the Client’s identity and credit standing. If such searches are carried out, TRADERS-88 may keep records of the contents and results of such searches in accordance with all current and applicable laws.
30.7. TRADERS-88 reserves the right to collect such information as is necessary from the Client to meet its obligations under applicable Anti Money Laundering laws and regulations. TRADERS-88 may pass on information collected from the Client and relating to transactions as required by applicable anti money laundering laws and regulations and is under no obligation to inform the Client it has done so. TRADERS-88 may undertake all such anti money laundering checks in relation to the Client (including restricted lists, blocked persons and countries lists) as deemed necessary or appropriate by TRADERS-88, and reserves the right to take any action with regard thereto with no liability whatsoever therefore.
30.8. TRADERS-88 reserves the right to provide all such information regarding the Client in relation to its obligations to, or requests (whether legally binding or not) by a relevant regulatory body.
30.9. TRADERS-88 and any Employees reserve the right to make use of pseudonym names for privacy and security purposes. practicable. 32. In order to provide the Client with these services, TRADERS-88 needs to collect
30.10. TRADERS-88 has systems and personal information about processes in place to address the Client and obtain the privacy requirements, and can Client’s agreement in provide the Client with a Privacy relation to the handling of Statement should the Client such personal information. If require further information the Client does not provide about TRADERS-88’s information the requested information or handling practices. agree to the information handling practices detailed in these Terms & Conditions, TRADERS-88 may be unable to provide the services outlined in these Terms & Conditions to the Client:
30.11. The Client authorises TRADERS-88 to collect, use, store or otherwise process any personal information which enables TRADERS-88 to provide and/or improve its services. This may, on occasion, require the 32.1. The Client shall ensure that all disclosure of personal information provided to information to our related TRADERS-88 is accurate and up- entities, agents and service to-date at all times. Any providers, and to organizations changes must be advised to located in countries which do TRADERS-88 as soon as not have comparable laws to protect the Client’s information.
30.12. The Client agrees that all misrepresentation made by the Client shall place liability on the Client for such damages stemming from this misrepresentation.
31.1. TRADERS-88 shall act as a counterparty to all the Client’s trades, and as such shall act as a seller when the Client buys and shall act as buyer when the Client sells.
31.2. TRADERS-88 shall limit its liability in acting as a counterparty by offsetting the Client’s transactions by taking any such action that may be necessary in order to reduce its liability.
32.1. TRADERS-88 has adopted a Complaints Procedure in order ensure that all received complaints are resolved as quickly as possible in a fair and equitable manner.
32.2. In order to submit a complaint to TRADERS-88 the Client consent to providing an email to [email protected] All complaints must contain sufficient details, including at the minimum:
The client’s full name and contact details e.g. phone number and email
The client’s trading account number
Specific details of the nature of the complaint e.g. facts, dates and supporting evidence (i.e. previous correspondence, TRADERS-88 will take to resolve the complaint, or will provide quotations, etc.) to enable fair and quick process of the complaint. the Client with an indication as to when he/she will receive a more comprehensive response. TRADERS-88 shall make every reasonable effort to resolve the Proof of any sustained losses complaint in a timely manner.
The solution/ remedial action you believe is required to resolve the complaint
32.3. In the event that the Client is not satisfied with TRADERS-88’s response, the Client may request that the 31.3. TRADERS-88 will acknowledge receipt of the complaint within three (3) business days from the receipt of the Client’s complaint. complaint will be referred to our Complaints Department. Please allow additional five (5) business days for a reply from the Complaints Officer.
The complaint will be reviewed
Governing Law and the circumstances surrounding it will be thoroughly investigated. Depending on the nature of the complaint, TRADERS-88 will provide an answer within five (5) business days which outlines the measures, if any, that
33. These Terms & Conditions are governed by and construed in accordance with the laws of Traders88, and the parties submit to the non-exclusive jurisdiction of the courts and tribunals of Traders88.