Term and Conditions

 

 

TERMS AND CONDITIONS FOR THE SERVICES OFFERED BY THE COMPANY

 

Colmex Pro Ltd (hereinafter called the Company” or “Colmex Pro”) is a financial services Company incorporated and registered under the laws of the Republic of Cyprus under Certificate of Registration No. 260064, having its registered office at flat 3, 4th floor, Megaro Panagides, 1 Chrysanthou Mylona st.,  3030 Limassol, Cyprus, (contact number + (357) 25-030421, Email: i[email protected]), having been granted a license from the Cyprus Securities and Exchange Commission (hereinafter called ―”CySEC”) (license No. 123/10) to provide the Investment  Services covered in this agreement, wishes to provide Investment Services through its highly developed electronic system via Internet.

 

THE COMPANY WILL OFFER SERVICES STRICTLY UNDER THE FOLLOWING TERMS AND CONDITIONS (the "Agreement"), WHICH ARE NON - NEGOTIABLE AND WILL BE AMENDED ONLY ACCORDING TO THE PROVISIONS OF TERM 13 BELOW.

 The Client hereby acknowledges that he has read, understood and accepted the information loaded on the Company‘s domain (website)  www.colmexpro.com hereinafter called "the main website") clearly and publicly stated, available to all Clients and which includes the Legal Information/Documentation, including the General Risk Disclosure, Conflicts of Interest Policy, the Order Execution Policy, the Client Categorisation, Investor Compensation Fund and the Contract Specifications. The Legal Information/Documentation mentioned above, including the General Risk Disclosure, Conflicts of Interest Policy, the Order Execution Policy, the Client Categorisation, Investor Compensation Fund and the Contract Specifications, forms an integral part of this agreement and by accepting these Terms and Conditions the Client accepts the Legal Information/Documentation uploaded on the Company’s website. The Company reserves the right to register and operate other relevant domains (websites) for marketing and promotional purposes to specific countries which contain information and disclosures to Clients and prospective Clients in any language other the English language. The Client accepts and understands that the Company‘s official language is the English language and should always read and refer to the main website for all information and disclosures about the Company and its activities.

 The Client by completing the Investor‘s Questionnaire (as part of the Trading Account Application), which informs the Company regarding the Client's Identity and Investment Profile, available on the Company‘s main website, accepts the following terms and conditions. Then subject to the Company‘s final approval and upon first funding of his account, as per paragraph 13.1, the Client enters into a legal and binding agreement with the Company as any agreement between the Company and its Clients  and the  procedure to  be followed, is governed by the Distance  Marketing of  Consumer Financial  Services  Law N.242(I)/2004 

implementing the EU directive 2002/65/EC, under which signing the Agreement is not required and the

agreement has the same judicial power and establishes the same rights, duties and responsibilities as a

regular agreement signed between both parties. In case a Client wishes to have a printed agreement, duly signed and stamped by the Company, the Client must send 2 signed copies of the Agreement to the Company, stating his postal address and a copy will be sent back to that address.

  

DEFINITIONS – INTERPRETATIONS

  In the agreement, unless the context otherwise requires, the following words shall be construed as

Follows:

 Definitions - Interpretations related to Securities and related products

 Client's  Account: the  special  personal  account  for  internal  calculation  and  customer  deposits, opened by the Company in the name of the Client (also called as Trader). The Terms and Conditions for the Services  Offered by the Company may use the word sub-account, trading account, brokerage account or Client account interchangeably, which all have the same meaning and apply to all such sub-accounts held under the name of the Client.

Financial Instruments (Trading Tools) – Equities, Futures, Options, CFDs and other financial instruments available for trading.

 Balance – the sum on sub – account of the Client after the last transaction made within any period of time.

 Balance Currency – the monetary unit in which sub – account’s all balances, commission fees and Payments are nominated and calculated.

 Base Currency: US Dollars

 Symbol: The symbol of Equities, Futures, Options or other financial instruments available for trading.

 Price quotes on Financial Instrument: All of the Financial Instruments provided by the Company are quoted in U.S. dollars currency per unit.

 Average cost: average cost of opened or closed transaction/trade.

 Realized: realized profit or loss of the trade on the current trading day

 Unrealized: unrealized profit or loss of the trade on the current day

 Bid and Ask: (bid and offer) the price of the Financial Instrument from the side of the sellers and the buyers.

 Buy (go long): open new trade on Financial Instrument or add additional number of chosen Financial

Instrument into existing open long trade or Realize part or all of the specific opened trade, or Closing Short Trade, in full or in part

 Sell: realize/close opened long trade on specific Financial Instrument.

 Short: Selling short trade or add additional number of chosen Financial Instrument into existing opened short trade.

 Spread: difference between the buy price (rate) and the sell price (rate) of the Financial Instrument at the same moment.

 Leverage: the Company defines the leverage that the Client/Trader can use on his account as a Buying Power ratio.

 Examples: Client(s) equities accounts may be defined as type 1, 2, 4 or up to 20 in case of CFDs on equities trading accounts.

 (Cash account type 1:1) means that the Client’s daily buying power is equal to the Client’s account Equity.

 (Leverage account type 1:2) means that the Client’s daily buying power is two times bigger than the Client’s account Equity.

 (Leverage account type 1:4) means that the Client’s daily buying power is four times bigger than the

Client’s account Equity.

 4. Up to 20 (Leverage account type 1:20) means that the Client’s daily buying power is up to twenty times bigger than the Client’s account Equity.

 Securities trading below $5 or/and options trading: leverage will not be available in all account types, for option trading or trading securities at a security quoted lower than 5 USD. Securities with a market value

of less than $5 per share may not be purchased on margin or deposited as margin collateral. If the market value of a security drops below $5 per share, the security may not be assigned any value as collateral to secure your margin obligations.

 Equities/CFDs Buying Power ratio:

Clients’ standard buying power for securities: 1:4 Intraday and 1:2 Overnight

Clients’ standard buying power for CFDs: 1:10 Intraday and 1:2 Overnight

The buying power for CFDs might be amended in the Client’s best interests and/or according to the Company’s judgment and sole discretion.

 Open BP: buying power in the beginning of current trading day

 Current BP: Client’s available buying power for the current trading day

 Over Night BP: Client’s buying power during the night

 Withhold BP: the opened amount that Financial Instrument withholds from the daily Opened Buying Power.

 Tickets: number of transactions made during the trading day

 Account Status: Client’s account status (open, inactive or closed)

 Order: the request for transaction execution

 Access Codes: the username and password given by the Company to the Client for accessing the

Company‘s electronic systems.

 Contract Specifications: The specific commercial terms or plan chosen by the Client from those offered by the Company, subject to the Company's authorization.

 Equity: provided part of the Client‘s sub – account including open positions which are tied to the balance and floating (Profit/Loss) by the following formula: Balance + Profit - Loss. These are the funds on the Client‘s sub – account reduced by the current loss on the open positions and increased by the current profit on the open positions.

 Level 1- Basic quote of the Bid / Ask prices at a current time.

 Level 2- Depth of the market as the "Level 2" which provides further available Bid/Ask quotes from the Major Brokerage firms, ECNs (Electronic Communications Network) and other traders, investors and financial institutions.

 Operating (Trading) Time of the Company – period of time within a business week, where the trading terminal of the Company provides the opportunity of trading operations. The Company reserves the right to alter this period of time as fit, upon notification to the Client.

 Transaction – any type of transaction affected in the Client‘s trading account(s) including but not limited to Deposit, Withdrawal, Open Trades, Closed Trades, Transfers between other accounts which belong to the Client or an authorized representative.

 Definitions – Interpretations related to FX and related products

 Access Codes – the username and password given by the Company to the Client for accessing the Company's electronic systems.

 Balance – the sum on sub – account of the Client after the last transaction made within any period of time.

 Balance Currency – the monetary unit in which sub – account's all balances, commission fees and payments are nominated and calculated.

 Base Currency – the first currency in currency pair

 Client Account – the special personal account for internal calculation and customer deposits, opened by the Company in the name of the Client. The Terms and Conditions for the Services Offered by the Company may use the word sub-account, trading account, brokerage account or Client account interchangeably, which all have the same meaning and apply to all such sub-accounts held under the name of the Client.

 Close Position - deal of purchase (sale) covered by the opposite sale (purchase) of the contract.

 Contract Specifications – each lot size as well as all necessary trading information concerning spreads, margin requirements etc., as determined in the Company's main website.

 Equity – provided part of the Client's sub – account including open positions which are tied to the balance and floating (Profit/Loss) by the following formula: Balance + Profit - Loss. These are the funds on the Client's sub – account reduced by the current loss on the open positions and increased by the current profit on the open positions.

 Floating Profit/Loss – unrealized profit (loss) of open positions at current prices of the underlying currencies, contracts or stocks, equity indexes, precious metals or any other commodities available for trading.

 Free Margin – funds not used as the guarantee to open positions, calculated as: Free Margin = Equity – Margin

 Lot – a unit measuring the transaction amount, equal to 100.000 of base currency (i.e. 1 lot = 100.000 of base currency).

 Margin – the necessary guarantee funds to open positions, as determined in the contract specification.

 Margin Level – index characterizing the account, calculated as: Equity/Margin.

 Open Position – deal of purchase (sale) not covered by the opposite sale (purchase) of the contract.

 Operating (Trading) Time of the Company – period of time within a business week, where the trading terminal of the Company provides the opportunity of trading operations. The Company reserves the right to alter this period of time as fit, upon notification to the Client.

 Order – the request for the transaction execution.

 Spread – difference between the purchase price ASK (rate) and the sale price BID (rate) at the same moment.

  Storage Swap – the funds withdrawn or added to the Client's account for the prolongation (transfer) of open position to the next day.

Stop – out level/Margin Call – such condition of account when the open positions are forcedly closed by the Company at current prices.

Transaction – any type of transaction effected in the Client's trading account(s) including but not limited to Deposit, Withdrawal, Open Trades, Closed Trades, Transfers between other accounts which belong to the Client or an authorized representative

Definitions – Interpretations related to Bonus

Stars Bonus: Stars Bonus can be given to the Company’s client to be used solely for his/her trading activity with the Company. The Bonus will be valid for a period of one year starting from the date that the bonus was received unless otherwise agreed by the Company and the Client. The Client can withdraw the said bonus

once he/she generates commission 3times the stars bonus received and the account was active for a year after the bonus received. If the relationship between the Company and the Client ends before expiration of the one year period and/or if the client did not manage to generate the required commission within the abovementioned period or up until the time of the termination of the contractual relationship with the Company, the Company is authorized to charge the client’s account with the full amount of the said Bonus

Stars irrespective of the commission generated on his/her trading account. In case that the outstanding balance in the client’s account is less than the amount given, the client will owe the Company the remaining amount.

PROVISION OF SERVICES

2.1 The investment and ancillary services to be provided by the Company to the Client include the following:

(a) Reception and Transmission of Orders

(b) Execution of Orders in relation to transactions having as an object one or more of the following financial instruments:

i. Securities, Futures, Options, CFDs, FX or any other Financial Instruments.

ii. The Company reserves the right to offer the Financial Instrument on any underlying security it considers appropriate. The Company’s main website will be the primary means of presenting the

underlying security on which the Company will offer the Financial Instrument and the Contract Specifications for all and each of them. The Company reserves the right to modify the main website at any time and the Client agrees to continue to be bound by this agreement and the modified Contract Specifications.

(c) Foreign Exchange Services provided these are connected with the provision of Investment Services.

(d) Safekeeping and administration of financial instruments for the account of Clients, including custodianship and related services such as cash/collateral management

  (e)Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments

2.2 The Client acknowledges that the Services do not include the provision of investment advice. Any investment information as may be announced by the Company to the Client does not constitute investment advice but aims merely to assist him in his investment decision making. No information provided by the Company shall be deemed as an assurance or guarantee on the expected results of any transaction.

2.3. The Client shall notify the Company in any event he becomes aware that his engagement in this agreement violates any law or regulation applicable upon the Client.

The Client agrees and acknowledges that he is solely responsible for any investment strategy, transaction or investment, composition of any account and taxation consequences and he shall not rely, for this purpose on the Company. It is also understood and accepted that the Company shall bear absolutely no responsibility, regardless of the circumstances, for any such investment strategy, transaction, investment or information.

Assessment of appropriateness

The Company when providing investment services to the Client, requests the Client and the Client undertakes to provide the Company with information regarding his knowledge and experience in the investment field relevant to the specific type of product or services offered so as to enable the Company to assess whether the investment service or product envisaged is appropriate for the Client.

The information provided by the client regarding his knowledge and experience should include the following to the extent appropriate to the nature of the client, the nature and extent of the service to be provided and the anticipated type of product or transaction, including their complexity and risks involved:

       the types of services, transactions and financial instruments with which the Client is familiar;

       the nature, volume and frequency of the Client’s transactions in financial instruments and the period over which they have been      carried out;

       the level of education, financial position, profession or the relevant former profession of the Client.

The above information regarding the Client’s knowledge and experience is provided to the Company by the Client by completing the Investor’s Questionnaire. The Company is entitled to rely on the information provided by the Client unless it is aware or ought to be aware that the information is manifestly out of date, inaccurate or incomplete.

In case the Client elects not to provide the information regarding his knowledge and experience or provides insufficient information, the Company hereby warns the Client that such a decision will not allow the Company to determine whether the investment service or financial product envisaged is appropriate for the client.                      

2.4 The Client is informed that for any orders placed with the Company, the Company acts as a Principal or an Agent on the Client‘s behalf. Client’s orders are executed against the proprietary capital of the Company or via third party broker(s). In cases where the Company acts as an Agent on the Client’s behalf,

the Company’s execution venue is Over the Counter (OTC) market, represented by licensed brokers within the EU or equivalent countries. Detailed information about the order execution of the Company is provided in the Order Execution Policy which is an integral part of these Terms and Conditions.  

2.5 The Company’s operations time for Securities and CFDs on securities is every trading day (Monday, Tuesday, Wednesday, Thursday and Friday) from 9:30 - 16:00 NY time, regular trading hours, relatively to the stock market timing in NY. The Client shall have the option to trade on the pre-market (8:00 - 9:30)

and after-market hours (16:00 – 18:30) NY time, depending on the trader’s configured execution routes he will be using that allows pre market and after-market hours trading. Additional fees will apply for pre-market and after-market hours trading according to the Company’s contract specifications.   The Client acknowledges that there are special risks in trading securities during the pre-market and after-market hours. For more details, please see Risks of Trading Pre-Market and After-Market  hours  under  the  General  Risk  Disclosure  section  of  our  website.  Holidays are announced via the Company's main website.

The Company's operations time for Forex and related products is round – the – clock from Sunday 22.05GMT (Greenwich Mean Time) to Friday 21.30 GMT (Greenwich Mean Time). Non-working periods: from Friday 21.31 (Greenwich Mean Time) to Sunday 22.04 (Greenwich Mean Time). Holidays will be announced through the main website or/and by email.

 

CLIENT’S CATEGORISATION

3.1 The Client by accepting these Terms and Conditions acknowledges and agrees that he will be automatically categorized by the Company as a Retail Client. If, however, the Client wishes to be re-categorized as a Professional Client or Eligible Counterparty, then the Client must inform the Company in writing, clearly stating such a wish.  The final decision for changing or not the Client‘s categorization will

be made by the Company.

3.2. The Client is bound by the method of categorization as this is explained thoroughly in the Company‘s main website under the title ―CLIENT CATEGORISATION and as stated above, by accepting these terms and conditions the Client accepts the application of this method.

 

ASSURANCES, GUARANTEES AND COVERAGE

The Client states, affirms and guarantees that:

i. Whatever money handed over to the Company belongs exclusively to the Client, free of any

lien, charge, pledge and any other encumbrance, being no direct or indirect proceeds of any illegal act or omission or product of any criminal activity.

ii. He acts for himself and not as a representative or a trustee of any third person, unless he has produced, to the satisfaction of the Company, a document and/or powers of attorney enabling him to act as representative and/or trustee of any third person;

The Client agrees and understands that the Company reserves the right to refund / send back to the remitter (or beneficial owner) any amounts received under sections i. and ii. of this paragraph, if the Company does not accept sufficient proof that these amounts are not, directly or indirectly, proceeds of any illegal act or omission or product of any criminal activity and/or belong to a third party and the Client has not produced sufficient excuse for that, and consents that the Company may reverse any or all types of previous transactions performed by the Client in any of his trading accounts and terminate the agreement under paragraph 14.4. The Company reserves the right to take any legal action against the Client to cover itself upon such an event and claim any damages caused to the Company by the Client as a result of such an event.

The Client understands and accepts that all transactions in relation to trade in any of the Financial Instruments offered by the Company, will be performed only through the Trading Platform provided by the Company and the Financial Instruments are not transferable to any other Trading Platform whatsoever.

The Client guarantees the authenticity and validity of any document handed over by the Client to the Company.

The Company reserves the right, at its discretion, to revoke any existing and previously accepted Power of Attorney between any Client and his/her authorized representative when the Company considers such revocation to be necessary and appropriate and may reverse any relevant transactions between them in order to restore the affected Trading Account balance.

 

ELECTRONIC TRADING

By signing this Agreement, the Client is entitled to apply for access codes, within the Company‘s electronic systems, in order to be able to give orders for the purchase or sale of Financial Instruments with the Company, through a compatible Personal Computer of the Client, connected to the internet. The Client acknowledges and understands that the Company reserves the right, at its discretion, to terminate the Client‘s access to the Company‘s electronic systems or part of them in order to ensure the effective and efficient operation of its systems and protect the interests of all its Clients and its own. In such cases, the Company may close any or all trading accounts of the Client under paragraph 14.3.

The Client agrees and states that he will keep in a safe place the access codes and not reveal them to any other person. He will not proceed and avoid proceeding in any action that could probably allow the irregular or unauthorized access or use of the Electronic System.

The Client agrees not to use the platform in an abusive way by lag trading and/or usage of server latency,

price manipulation, time manipulation and similar practices. In such a case, the Company shall have the right,

if applicable, to reverse all related Client‘s trades and close any or all trading accounts of the Client under paragraph 14.4. iv.

The Client will make all necessary efforts to keep his access codes secret and known only to him. Also, the Client will be liable for all orders given through and under his access codes and any such orders received by the Company will be considered as received by the Client. In cases where a third person is assigned as an authorized representative to act on behalf of the Client, the Client will be responsible for all orders given through and under the representative‘s access codes.

The Client undertakes to notify the Company immediately if it comes to his attention that his access codes are being used unauthorized.

The Client acknowledges that the Company will not take action based on orders transmitted to the Company  using electronic means other than those orders transmitted to the Company using the predetermined electronic means.

The Client agrees to use software programs developed by third parties, browser software that supports Data Security Protocols compatible with protocols used by the Company. Moreover, the Client agrees to follow the access procedure (Login) of the Company for Electronic Services that support such protocols.

The Client acknowledges that the Company bears no responsibility if unauthorized third persons have access to information, including electronic addresses, electronic communication and personal data, when the above

are transmitted between the Client and the Company or any other party, using the internet or other network communication facilities, telephone, or any other electronic means.

The Client acknowledges that the Company bears no responsibility for any loss of the Client due to the inability of the Client to access the Company's Trading Platform(s) if this inability was:

(1) a result of the Client’s failure to keep the Trading Platform software provided to the Client up to date with all necessary updates and upgrades;

(2) caused by any other mechanical, software, computer, telecommunications or other electronic systems failure outside of  the control of the Client or the Company.

The Client understands and agrees that the Platform services are provided by third party, “as is”, "as available", without warranty of any kind by the system provider, express, implied or statutory (including,   without limitation, timeliness, sequence, completeness, accuracy, or freedom from interruption),any  implied warranties arising from trade usage, course of dealing or course of performance, or the implied warranties of merchantability, fitness, for a particular purpose, title and Non-infringement. The entire risk as to the quality and performance of the services offered through the Trading System is with the Client.

Furthermore, there is no representation by the Company that such services or any information provided in connection therewith, will meet the Trader’s requirements, be error free, or operate without interruption. The Company, its broker/dealer, and its clearing broker rely upon sophisticated computer software and hardware to execute transactions, which are subject to failure due to a variety of factors. In addition, the exchanges, such as NASDAQ and the electronic communication networks (“ECN”) have computer systems that sometimes malfunction. The Trader understands that among other events, the Trader may experience losses due to system crashes during both peak and low volume periods, the loss of orders and delayed, conflicting and inaccurate confirmations on orders or cancellations that initiated by the Trader, without any liability of the Company.

The Company is not an Internet Service Provider nor is responsible for any electricity failures that prevent the use of the system and cannot be responsible for not fulfilling any obligations under this agreement because of the internet connection or electricity failures. In the case of such electricity / communication/ Internet failures and If the Client wishes to execute a position, the client must telephone to our operators on the phone line + 357 25-030421 and give them verbal instructions. The Company reserves the right to decline any verbal instructions in cases where its telephone recording system is not operational or in cases where the Company is not satisfied of the caller‘s/Client‘s identity or in cases where the transaction is complicated and reserves the right to ask the Client to give instructions by other means.

 

ORDERS - INSTRUCTIONS

6.1 The Company will, in certain circumstances, accept instructions, by telephone or in person, provided that

the Company is satisfied, at its full discretion, of the caller‘s/Client‘s identity and clarity of instructions. In case of an order received by the Company by means other than through the electronic Trading Platform, the order will be transmitted by the Company to the electronic Trading Platform and processed as if it was received through the electronic Trading Platform.

The Company reserves the right, at its discretion, to confirm in any manner the instructions and/or Orders and/or communications sent through the Communication System. The Client accepts the risk of misinterpretation   and/or   mistakes   in   the   instructions   and/or   Orders   sent   through   the Communication System,  regardless  of  how  they  have  been  caused,  including  technical  and/or mechanical damage.

The Client has the right to authorize a third person to give instructions and/or orders to the Company or to handle any other matters related to this agreement, provided that the Client has notified the Company in writing, of exercising such a right and that this person is approved by the Company fulfilling all of Company‘s specifications/requirements for such service. Unless the Company receives a written notification  for  the  termination  of  the  said  person‘s  authorization,  the  Company  will  continue accepting instructions and/or orders given by this person on behalf of the Client and the Client will recognize such orders as valid and committing. The above written notification for the termination of the authorization to a third party has to be received by the Company with at least 2 days’ notice.

Once the Client‘s instructions or Orders are given to the Company and are sent for execution, they cannot be revoked. Only in exceptional circumstances the Company may allow the Client to revoke or amend the relevant instruction or Order. The Company has the right to proceed to a partial execution of the Client's Orders.

6.2 The transaction (opening or closing a position) is executed at the "BID" / "ASK" prices offered to the Client.  The Client chooses desirable operation and makes a request to receive a transaction confirmation by the Company. The transaction is executed at the prices the Client can see on the screen. Due to the high volatility of the markets during the confirmation process the price may change and the Company has the right to offer the Client a new price. In the event the Company offers the Client a new price the Client can either accept the new price and execute the transaction or refuse the new price and cancel the execution of the transaction.

6.3 The Client, using electronic access, can give only the following orders of trading character:

Securities and CFDs on securities: Buy Order (Long Position) in Market price, Short Order in Market Price, Sell Order in Market price (close a long position partially or fully), Buy Order using price Limit, Short order using price Limit, Sell Order using price Limit (close a long position partially or fully), Cover a Short position with price limit, Stop Loss Order (to protect an opened position using a future sell command), Stop Market Orders, Stop Limit Order, Stop Range Order (to protect an open position by placing a future sell command

which will be executed in case of either earning or losing, available only on ARCAS ECN route), GTC - Good Till cancel, (orders waiting for execution outside the trading hours, managed by market makers available only with NITE and SBSH route).

Forex and related products:

i.   OPEN – to open a position;

ii. CLOSE – to close an open position;

iii. To add, remove, edit orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop.

Any other orders are unavailable and are automatically rejected. After an order has been executed, it

cannot be cancelled by the Client.

Orders  can be placed, executed, changed or removed only within the operating (trading) time and shall  remain  effective  through  the  next  trading  session.  The Client‘s Order shall be valid in accordance with the type and time of the given Order, as specified. If the time of validity of the order is not specified, it shall be valid for an indefinite period. The Status of the orders is always shown in the Client's online Trading Platform. In the event that access to the online Trading Platform is not possible, the Clients may contact the Company by telephone (as described in section 5 above) and request information regarding the status of any of their pending orders.

Pending or Stop Orders are, by default, valid till the end of the trading day unless the Client requested the Stop Order to be GTC (good till cancel) with a route that allows it.

6.4 The Company shall not be held responsible in the case of delays or other errors caused during the transmission of orders and/or messages via computer, as well as for damage which may be caused by

the non-validity of securities or a mistake in the bank account balance of the Client. The Company shall not be held responsible for information received via computer or for any loss which the Client may incur in case this information is inaccurate.

6.5 The Company reserves the right to change the opening/closing price (rate) and/or size and/or number

of the related transaction (and/or the level and size of any Stop Limit, Stop Market or Stop Range order) in case of any Financial Instrument becomes subject to possible adjustment as the result of any event set out in Paragraph 6.7 below (hereinafter called a ―Corporate Event). This operation is applied exclusively to securities and has a meaning to preserve the economic equivalence of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event. All actions of the Company regarding such adjustments are conclusive and binding upon the Client. The Company shall inform the

Client of any adjustment as soon as reasonably practicable.

6.6. The Client will not be entitled to interest and/or dividends and/or any voting rights and/or any other

rights in connection to the securities and/or funds in the Company's or Trader's Account. The Trader will only be entitled to the redemption of Trader’s Equity. It is hereby clarified that the Company withholds the above mentioned dividends in order to cover expenses for custodianship and other related expenses.

The Company reserves, in case of corporate event(s) as defined below, the right to one of the following

procedures:

i. close such positions at the last price of the previous trading day and open the equivalent volume of the Financial Instrument at the first available price on the ex-dividend day.
ii. leave such positions open and incur all costs on the Client (important notice: while opening a "short" position on a stock that might be involved in a corporate event, the Company shall adjust the Client account with such cost and shall notify the Client as soon as reasonably practicable).

6.7 Corporate Events are the declarations by the issuer of the Financial Instrument of the terms of any of the following but not limited to:

i.   A subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of shares to existing shareholders by way of a bonus, capitalization or similar issue, or distribution of dividend (in cash or otherwise);

ii. 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 shares, in any case of payment (in cash or otherwise) at less than the prevailing market price per share as determined by the Company;

iii. Any other event in respect of the shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of the shares.

6.8 Orders: Buy, Sell, Short or Stop at Market; Buy, Sell, Short or Stop Limit; Stop Range etc. on Financial Instruments are executed at the Client’s desired price order on the first current price touch, if available on the Market for the completion of the order with a counter party. In some circumstances, a counter party will not be available and an order will not be executed. The Company reserves the right not to execute the order or to  change the opening (closing) price of the transaction in case of the technical failure of the trading platform, reflected financial tools quotes feed, and also in case of other technical failures.

6.9 Under certain trading conditions it may be impossible to execute orders (Buy, Sell, Short or Stop at Market; Buy, Sell, Short or Stop Limit; Stop Range and others) on any Financial Instrument at the declared price. In this case the Company has the right to execute the order or change the opening (closing) price of the transaction at the first available price. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant

exchange, trading is suspended or restricted. This may occur in the trading session start moments. So as a result, placing a stop—loss order will not necessarily limit the Trader's losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price.

6.10 The Client may submit to the Company in writing by e-mail, his objection to the execution or the non-execution or the mode of execution of a transaction and/or Order concluded on his behalf within two (2) working days from the conclusion of the transaction otherwise, the transaction will be considered valid and binding for the Client.

6.11 Margin account conditions

Margin level

For Clients trading Securities: if the Client`s equity is equal or falls under $1300 the Company has the right to change the Client’s account from Margin account to Cash account, in this case the Client’s Buying Power shall be equal to the Client’s Equity. In addition, if the Client's equity falls below $500, the Company shall have the right to close all of the Client's positions at market price and close the Client’s account. It is clarified that the Company is under no obligation to do so.

For Clients trading CFDs on securities: if the Client`s equity is equal or falls under $300 (“Minimum Client’s Equity) the Company has the right to change the Client’s account from Margin account to Cash account, in this case the Client’s Buying Power shall be equal to the Client’s Equity. In addition, if the Client's equity falls below $150 (“Trading Suspension Equity”), the Company shall have the right to close all of the Client's positions at market price and close the Client’s account. It is clarified that the Company is under no obligation to do so.

For Clients trading Forex and related products: at Margin level less than 50% the Company has a discretionary right to close part or all of the Client’s position(s). If the Margin level is equal or less than 10%, the Company will automatically close all positions at market price.

Despite what is mentioned in paragraph 6.11., the Company reserves the right, any time and without prior notice to the Client to impose stricter requirements/conditions or to refuse to permit trading on margin.

The Client hereby agrees to promptly satisfy all margin and maintenance calls.

Initial margin requirements may change without prior notice. The Company may impose at any time and without prior notice more stringent requirements on positions that in the Company’s sole discretion involve higher level of risk; for example, higher limits may apply for thinly traded, speculative or volatile investment

products or concentrated positions.

The Client may purchase only certain investment products on margin or use them as collateral in his margin and short account.

Equity securities with a market value of less than $5.00 per share generally may not be purchased on margin or deposited as margin collateral. If the market value of a security drops below $5.00 per share, the security may not be assigned any value as collateral to secure the Client’s margin obligations.

Margin maintenance requirements may change without prior notice. The Company may issue a “margin call” (that is a notification to deposit additional collateral) if the account equity falls below the margin maintenance requirement. This can happen for various reasons. The most common reasons are a decrease in the value of long investment products held as collateral or an increase in the value of investment products held short. As a general guideline and when it is practical to do so, the Company may (but it is not required to) issue a margin call when the equity in the Client’s margin and short account falls below a predetermined percentage of the market value of assets at risk (that is, the sum of the market values of the long and short investment product positions) in the Client’s margin and short account. The amount of additional collateral the Company requires is usually an amount sufficient to raise the Client’s equity to minimum standards.

The Company retains absolute discretion to determine whether, when and in what amounts it will require additional collateral.  In some situations, the Company may find it necessary to require a higher level of equity in the Client’s account. For example, the Company may require additional collateral if an account contains:

         Only one investment product or a large concentration of one or more investment products;

         Low-priced, thinly traded or volatile financial products; or

         Some of the Client’s collateral is or becomes restricted or non-negotiable or non-marginable.

The Company may also consider the market conditions and the Client’s financial resources. The Company has the authority at any time, at its discretion and without notice to the Client, to sell any or all of the investment products in the Client’s account or to cancel any outstanding orders or to require additional collateral or to close the Client’s account in the event of, but not limited to:

          The Client’s failure to meet the request for additional collateral;

         The filing of a petition of bankruptcy by or against the Client;

         If the equity in the Client’s account falls below the minimum maintenance requirement

The Company is not obligated to notify the Client when a call is due and can liquidate any investment product to cover positions anytime and without demand for additional funds. The Company can sell any and all investment products in the Client’s account whether carried individually or jointly with others. The Company can sell investment products that may be short in such accounts or cancel any open orders and/or trades to restore the account to the minimum margin balance required, without any notice to the Client. Any prior demand or notice will not be deemed a waiver of the Company’s right to take these actions.

The Client agrees to indemnify and hold harmless from any and all liability, claims and damages and losses of any kind resulting from any action taken pursuant to the conditions of the margin account and the terms of this agreement.

6.12 The Client agrees and realizes that all conversations / communications between the Client and the Company can be recorded on magnetic, electronic and other carriers. The Client further agrees that the Company has the right to use these records as evidence in case any dispute arises between the Company and the Client.

The Company has the right to refuse the Client in the execution of transactions through the telephone line if the instructions/actions of the Client are not clear and do not include the following operations: opening position, closing position, amount of shares or lots, financial product name, changing or removing orders.

In case of force-majeure, hacker attacks and other illegal actions against the Server of the Company and also a suspension of trade in the financial markets concerning Financial Instruments of the Company,

the Company may, suspend, freeze or close the Client positions and request the revision of the executed transactions.

6.13  All  price  levels in the  trading  terminal  are  final,  except  for  circumstances  stated  in  this Agreement. Any references of the Client to prices of other trading or information systems shall be disregarded.

6.14 Trading operations using additional functions of the Client trading terminal such as Trailing Stop, auto clicker, Expert Adviser or similar software are executed completely under the Client's responsibility, as they depend directly on the Client trading terminal and the Company bears no responsibility whatsoever. The Company reserves the right to reverse any or all type of existing or previous transactions performed by the Client in any of his trading accounts and terminate the agreement, as per clause 13.4, in case the Client uses additional functions on his trading terminal etc, which might cause a manipulation on the execution process of the financial instrument as well as affect the smooth operations of the Trading Platform.  

6.15 Securities and CFDs on securities: The minimum volume of the transaction is one share or one unit of Financial Instrument. A possible choice of a leverage rate, according always to the account type generally ranges from 1:1 up to 1:20, at the discretion of the Company. At the opening of a Client trading account, the leverage rate is predetermined according to the type of account chosen. The Client may request for a lower leverage to be applied to his trading account by contacting the Company. The Company reserves the right to change the Client‘s trading account leverage at its discretion, either for a limited time period or on

a permanent basis, by informing the Client by oral or written notice. At the Company’s discretion, the Client may benefit of a higher intraday buying power.

Forex and related products: The 1 (one) standard lot size is the measurement unit specified for each Financial Instrument traded in the Electronic Trading Platform. The Company reserves the right to change the Contract Specifications at any time depending on the market situation. The Client agrees to check the full specification of the Financial Instrument before placing any order. The minimum volume of the

transaction is 0.01 lot. A possible choice of a leverage rate, according always to the account type, ranges from 1:1 up to 1:400 depending on the type of the account and at the discretion of the Company. At the opening of a Client trading account, the leverage rate is predetermined according to the type of account chosen. The Client may request for a lower leverage to be applied to their trading account by contacting the Company. The Company reserves the right to change the Client's trading account leverage at its discretion, either for a limited time period or on a permanent basis, by informing the Client by oral or written notice.

6.16 For Forex and related products the level of the swap rates may vary in size and change depending on the level of interest rates. The Company reserves the right to change the swap value applicable to the Financial Instruments. The Client agrees to check the swap rate of the financial instrument which can be seen in the Company’s trading platform before placing any order. From Friday to Monday swaps are calculated once. From Wednesday to Thursday swaps are calculated in triple size.

6.17 Platform fee:

 In case of absence of any trading activity for 30 consecutive days of the Client‘s account, the Company reserves the right to charge a fixed payment of 55 US dollars per month (“platform fee”) in order to maintain the account assuming that the Client’s account has the available funds. The status of the account shall be changed to inactive. The payment of the above mentioned amount will commence at the end of the 30th day of inactivity and will continue for as long as the activity in the Client’s trading account is absent or low (‘low’ trading activity is defined as less than 5 transactions per month in the Client’s account). If the Client’s account is funded with less than 55 US dollars and has been inactive, the Company reserves the right to charge a lower amount to cover administrative expenses and close down the account.

ii. If the Client will not perform any trading activity or his trading activity will be of very low volume as defined above, for 30 consecutive days, or if the Trader does not hold minimum funds in his account, as defined by the Company, the Company may, subject to a notice given to the Client, close any open trade and/or the Client`s access to the account and/or terminate this Agreement.

iii. In case of absence of any trading activity for 30 consecutive days in the Client‘s account,

the Company may cancel any trading privileges granted to the Client. In this case the Client`s Buying Power may be equal to the Client`s equity.

6.18 The  Company  has  the  right  at  its  discretion  to  increase  or  decrease  spreads  on  Financial

Instruments depending on market conditions.

6.19 The Company has the right not to accept trading orders, to be determined in its own absolute discretion, 2 (two) minutes before and after a Critical News Release.

 

REFUSAL TO EXECUTE ORDERS

7.1 The Client acknowledges that the Company shall have the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, amongst others in the following cases:

i. Whenever the Company deems that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments, constitutes an abusive exploitation of privileged confidential information (insider trading); contributes to the legislation of proceeds

from illegal acts or activities (money laundering); affects or may affect in any manner the reliability or smooth operation of the Electronic Trading Platform;

Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company and/or in the Bank Account (as in Paragraph 9 below) to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Electronic Trading Platform.

In calculating the said available funds, all funds required to meet any of the Client‘s obligations include,  but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company and/or in the Bank Account;

The Company is not obliged to give reasons or notice as to the reasons for suspending, declining or cancelling Client‘s orders or instructions. Moreover, in the event that the Company does decide to suspend or cancel an instruction, such will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.

7.2 The Client declares that he shall not knowingly give any order or instruction to the Company that might instigate the Company taking action in relation to Paragraph 7.1 above.

 

SETTLEMENT OF TRANSACTIONS

8.1 The Company shall proceed to a settlement of all transactions upon execution of such transactions.

8.2 (a) An official confirmation of its order execution is sent to the Client no later than the following business day from their execution day or if the Company receives confirmation by a third party no later than the first business day from receiving the confirmation sent by such third party.                              

(b) A statement of Account will be provided by the Company to the Client on a monthly basis, within five (5) working days from the end of the previous month. In case no transactions were concluded in the past month, the Client is deemed to have lost his right to be informed. Any confirmation or proof for any act or statement of account or certification issued by the Company in relation to any transaction or other matter shall be final and binding on the Client, unless the Client has any objection in relation to such statement of account or certification and the said objection is filed in writing and received by the Company within two (2) working days from the receipt or the deemed date of receipt of any statement of account or certification.

8.3 In  the  case  where  the  Client is able  to  have an  online statement  for his  sub-account  on a continuous basis, then the Company is considered as having fulfilled its obligations under Paragraph 8.2 above and any objections of the Client shall be valid if received by the Company in writing within 2 working days from the transaction under objection.

 

CLIENT’S ACCOUNTS

9.1 All amounts handed over by the Client to the Company or which the Company holds on behalf of

the Client, for the provision of Investment Services as in Paragraph 2, shall be held in the name of the Client and/or in the name of the Company on behalf of the Client in a segregated account for the purpose of keeping the Clients’ funds with any bank or other institution which the Company shall specify from time to time (‘the Bank Account’).

9.2 Upon signing the Agreement, the Client authorizes the Company to make any deposits and withdrawals

from the Bank Account on his behalf including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Agreement and all amounts which are payable by or on behalf of the Client to the Company or any other person.

9.3 Unless the Parties otherwise agree, in writing, any amount payable by the Company to the Client, shall be paid directly to the Client.

9.4 Upon signing the Agreement, the Client must deposit a minimum deposit of $3000 for trading Securities, $1000 for trading CFDs on securities and $400 for trading Forex and related products, as may be defined by the Company from time to time (the “Deposit”).  The Client may make additional deposits with the Company thereafter. The aggregate amount of all such deposits, including the initial Deposit, and any net trading profits held by the Company from time to time is the “Client's Equity”. The Client will bear any and all Trading Loss resulting from his trades even if such Trading Loss exceeds the Trader’s Equity.

9.5 The Company may, at its discretion, from time to time, and without the Client’s authorization set-off any amounts held on behalf and/or to the credit of the Client against the Client‘s obligation to the Company and/or merge any accounts of the Client.

9.6 The Client has the right to withdraw the funds which are not used for margin covering, free from any

obligations from his sub-account without closing the said sub - account.

9.7 Money transfer (withdrawal from trading account) shall be made within five banking days after receiving from the Client transfer request instructions. Then the transferring amount reduces the balance of the Client's sub-account on the day the transfer request is processed. The Company reserves the right to decline

a withdrawal request if the request is not in accordance with Paragraph 9.10 or delay the processing of the request if not satisfied on full documentation of the Client. A request may be refused if the Client has not sufficient funds in his Trading Account or the open positions use the funds in the account as collateral or security.

9.8 The Client agrees to pay any incurred bank transfer fees when withdrawing funds from his sub- account to his designated bank account. The Client is fully responsible for payment details, given to the Company and the Company accepts no responsibility for the Client‘s funds, if the Client‘s given details are wrong. It is also understood that the Company accepts no responsibility for any funds not deposited directly into the Company‘s bank accounts. The Company will not be liable for any default of a Bank.

9.9 The Client agrees that any amounts sent by the Client or on the Client‘s behalf in the Company’s Bank Accounts held on behalf of clients, will be deposited to the Client‘s trading account at the value date of the payment received and net of any  charges / fees charged by the Bank Account providers or any other

intermediary involved in such transaction process. Deposits not made in US Dollars will be exchanged to/from US dollars according to the bank check exchange rates. The client will be charged with an additional amount of $15 (10EUR for euro based accounts) per deposit for operational charges. The Company must be satisfied that the sender is the Client or an authorized representative of the Client before making any amount available to the  Client’s trading account, otherwise the Company reserves the right to refund / send back the net amount received to the remitter by the same method as received. It is also understood that the Company bears no responsibility for any funds not deposited directly into Company's bank account.

9.10 Withdrawals should be made using the same method used by the Client to fund his trading account and to the same remitter. When the Client withdraws funds, it is the Company’s standard practice to send the money back to the Client in the same currency the money was originally deposited thus, the requested amount will be exchanged from US dollars according to bank check exchange rates. The Company reserves the right to decline a withdrawal with specific payment method and suggest another payment method where the Client needs to proceed with a new withdrawal request or request further documentation while processing the withdrawal request. If the Company is not satisfied with any documentation provided by the Client will reverse the withdrawal transaction and deposit the amount back to the Client‘s trading account net of any charges/fees charged by the Bank Account providers, the Company or any other intermediary involved in such transaction process. The client will be charged with an additional amount of $40 (30 EUR for euro based accounts) per withdrawal for operational charges. Finally, the Company reserves the discretionary right to transfer the specified funds in the Local Currency of the receiving Bank.

9.11 In the event that any amount received in the Bank Accounts is reversed by the Bank Account provider

at any time and for any reason, the Company will immediately reverse the affected deposit from the Client's trading account and reserve the right to reverse any other type of transactions effected after the date of the affected deposit. It is understood that these actions may result to a negative balance in all or any of the Client's trading account(s).

9.12 The Client agrees that in case of such negative balance in the trading account(s) of the Client, the Company can transfer such an amount from any other trading account of the Client to that account to cover the negative balance. Furthermore, it is understood and accepted by the Client that in case there are no  sufficient  amounts to cover the negative balance, the Company reserves the absolute right to terminate this agreement with 24 hours’ notice, through internal mail and/or claim from the Client the amount of negative balance and any expenses it might occur.

9.13 The Client agrees to waive any of his rights to receive any interest earned in the money held in bank accounts and consents that the Company will benefit for such an interest earned to cover registration/ general expenses/charges/fees and interest related to the administration and maintenance of the bank accounts and any other expense of the Company.

9.14 In the event that the Client requests any refund or return of a previously accepted incoming transaction, the Company should act upon the Client’s request and refund or return to the Client the net amount received of the said request and before such return or refund is effected the Company shall deduct any losses made or charges incurred on the Client's Trading Account.

 

COMPANY’S FEES

10.1 The Company is entitled to receive fees from the Client for its Services provided as described in the Agreement as well as compensation for the expenses it will incur for the obligations it will undertake during the execution of the said Services. The Company reserves the right to modify, from time to time, the size, the amounts and the percentage rates of its fees and the Client will be informed accordingly.

10.2 The  Client  shall  pay  the  Company,  immediately  when  so  requested  by  the  latter  and  the Company  is entitled to debit the account of the Client with any value added tax or any other tax, contribution or charge

which may be payable as a result of any transaction which concerns the Client or any act or action of the Company under the Agreement (excepting taxes payable by the Company in relation to the Company‘s income or profits).

10.3 The Company shall have a lien on all the amounts which are deposited in the accounts stated in Paragraph 9 above and on statements of Financial Instruments of the Client, to the extent that there are remaining amounts due by the Client to the Company. Before the exercise of the said right, which doesn't need the Client's consent, the Company shall give the Client notice stating its intention to exercise the lien, as well as the deadline upon the expiry of which the Company shall exercise the said right.

10.4 In case the Client fails to pay any amount by the date on which the said amount is payable, the Company shall be entitled to debit the accounts of the Client stated in Paragraph 9 above with the said amount and/or liquidate in the name of the Client any of the Client‘s Financial Instruments in view of covering the aforementioned amount.

10.5 The Company has no control over TAF, ECN, SEC and Nasdaq OMX fees charged by the U.S. stock exchange or other execution venues. These fees may change at any time without prior notice to the Company. The Company may, but is not obliged to, notify the Client after receiving notice of changes in the above mentioned fees.

The Company may pay or receive fees, commissions, or non-monetary benefits to or from its affiliates or other third parties in connection with the Services. In particular, the Company may pay a fee or commission to any third party who introduces business to the Company. The Company can provide a separate disclosure of the essential arrangements related to any such fee or commission at the Client’s request.

10.6 As stated above, by accepting the terms and conditions the Client has read and understood and accepted the information under the title ―CONTRACT SPECIFICATIONS as this information is loaded on the Company‘s main website public and available for all Clients, in which there is information regarding commissions, costs and financing fees. The Company reserves the right to amend, at its discretion, all such commissions, costs and financing fees and proper information on such amendments will be available on the main website which the Client must review during the period the Client is dealing with the Company and especially before placing any orders to the Company.

10.7 Demo account: The purpose of the demo account is to acquire the knowledge of using the trading surface under real market conditions. The demo account gives the Client the opportunity to practice several trading strategies under real market conditions, with no risk or obligation, during which the Client gets free access to live trading prices and real time charts, can test the speed of execution and full range of trade orders. Hence, the purpose of the demo account is to introduce the Client to trading, and not to demonstrate the pay-off between the Client and Colmex Pro Ltd. In contrast to the demo account, the trading account also applies commission. As stated above, the Client can acquire information on the commissions applied by the Company from the contract specifications uploaded on the Company’s website.

COMPANY’S AND CLIENT’S LIABILITY

11.1 The Company shall conclude transactions in good faith and with due diligence but shall not be held

liable for any omission, deliberate omission or fraud by any person, firm or Company from whom the  Company  receives  instructions  for  the  execution  of  the  Client‘s  Orders  and/or  from  which transactions

are carried out on behalf of the Client, unless to the extent where this would be the result of negligence, deliberate omission or fraud on the part of the Company.

11.2 The Company shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client‘s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to deliberate omission or fraud by the Company or its employees.

11.3 If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the  Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such.

11.4 The Company shall not be held liable for any loss which is the result of deceit in relation to the facts or mistaken judgment or any act done or which the Company has omitted to do, whenever it arose, unless to the extent that such deceit or act or omission is directly due to deliberate omission or fraud by the Company or its employees.

11.5 The Company shall be held liable, to the extent that this is permissible under the Agreement, for the deposit of cash in its possession or which it will receive at any time on behalf of the Client in the Bank Account, but it shall not be held liable in relation to any omission, negligence, deliberate omission or fraud by the bank where the Bank Account is maintained.

11.6 The Company shall not be held liable for the loss of financial instruments and funds of the Client, including the cases where the Client‘s assets are kept by a third party such as a bank or other institution used  as  a payment provider, or for an act, which was carried out based on inaccurate information at its disposal  prior to being informed by the Client, of any change in the said information. The Company shall not be liable for any default of a Bank or a third party Broker. The Company shall bear no responsibility before the Client for any actions, inactions or omissions of a third party and also for any losses incurred  by the Client as a result of actions, inactions or omissions of a third party unless those losses directly arise from the Company’s willful default or fraud or deliberate omission. The Company shall bear no responsibility or liability for unfavorable consequences to the Client due to the insolvency/bankruptcy of a third party.

11.7 The Company shall be entitled to hold the Client’s funds and/or financial instruments in its omnibus account opened with third parties outside the European Economic Area and in particular the USA and Israeli banks and brokers. The Client is hereby notified that his/her rights may differ according to the legislation of that particular country, which may prevent the segregation and/or ring-fencing of the Clients funds and instruments from the funds and instruments of the said third party and /or the Company.

As mentioned above, the Company shall be entitled to hold the Client’s funds and/or financial instruments in omnibus accounts opened with third parties. In this case, the Company shall keep internal records of all

the Client’s funds and financial instruments held in omnibus accounts with third parties and it has in place systems and controls which ensure internal separate accounting of the funds and financial instruments held

for Clients in omnibus accounts with third parties. In order to ensure the aforementioned, the Company conducts on a regular basis reconciliations between its internal accounts and the accounts of any third parties by whom the Clients’ funds and/or financial instruments are held.

Kindly note that different fees associated with omnibus account might be applied. For more information please refer to the Company’s Representatives.

The Company is a member of the Investor Compensation Fund (ICF). As stated above, by accepting these

terms and conditions the Client has read and understood and accepted the information under the title

Investor Compensation Fund’ as this information is loaded on the Company‘s main website publicly available to all Clients.

 

12. COMPLAINTS

If the Client has any complaint about the Company’s performance under this Agreement, he should direct the complaint to the customer service/support department at [email protected] The customer support department will initiate the process of investigating the nature of the complaint and try to solve it. Please see our Complaint Handling Procedure for resolving customer complaints uploaded on our website (www.colmexpro.com) under ‘Legal Documentation’.

 

13.  DURATION OF THE AGREEMENT AND AMENDMENT THEREOF

13.1 This Agreement shall take effect upon the first funding of the Client‘s account, provided that the Company has sent the Client written confirmation for his acceptance. It shall be valid for an indefinite time period until its termination by virtue of the provisions of Paragraph 13.

13.2 The Agreement may be amended on the following cases:

 i. Unilaterally by the Company if such amendment is necessary following an amendment of the law or of CySEC, the Central Bank of Cyprus or any other authority issues decisions which affect the Agreement. In any such case, the Company shall notify the Client of the said amendment either in writing or through its webpage and the Client‘s consent shall not be required for any such amendment.

ii. In cases where the amendment of the Agreement is not required as in Paragraph 13.2(i) above, the Company shall notify the Client of the relevant amendment either in writing or through its webpage. If objections arise, the Client may terminate the Agreement within 10 business days from the notification by sending a registered letter and on the condition that all pending transactions on behalf of the Client shall be completed. Upon expiry of the above deadline without the Client having raised any objection, it shall be considered that the Client consents and/or accepts the content of the amendment.

TERMINATION

14.1 The Client has the right to terminate the Agreement by giving the Company at least seven (7) days

written notice, specifying the date of termination, on the condition that in the case of such termination, all pending transactions on behalf of the Client shall be completed.

14.2 The first day of the notice shall be deemed to be the date such notice has been received by the Company.

14.3 The Company may terminate the Agreement by giving the Client at least seven (7) days written notice, specifying the date of termination as such.

14.4 The Company may terminate the Agreement immediately without giving 7 days’ notice in the following case:

i. Death of the Client;

ii. If any application is made or any order is issued or a meeting is convened or a resolution is approved or any measures of bankruptcy or winding up of the Client, are taken;

iii. Such termination is required by any competent regulatory authority or body;

iv. The Client violates any provision of the Agreement and in the Company‘s opinion, the

Agreement cannot be implemented;

v. The Client violates any law or regulation to which he is subject, including but not limited to,

laws and regulations relating to exchange control and registration requirements;

vi. The Client involves the Company directly or indirectly in any type of fraud.

 

14.5 The termination of the Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, the Client shall pay:                           

i. Any pending fee of the Company and any other amount payable to the Company;

ii. Any charge and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement;

iii. Any damages which arose during the arrangement or settlement of pending obligations.

14.6 In case of breach by the Client of Paragraphs 13.4v and 13.4vi., the Company reserves the right to reverse all previous transactions which places the Company’s interests and/or all or any of its Clients interests at risk before terminating the agreement.

14.7 Upon termination of the Agreement, the Company shall immediately hand over to the Client the Client’s funds in its possession, provided that the Company shall be entitled to keep such Client’s funds as

necessary to close positions which have already been opened and/or pay any pending obligations of

the Client, including, without limitation, the payment of any amount which the Client owes to the Company under the Agreement or law.

ACKNOWLEDGEMENT OF RISKS

15.1 The Client unreservedly acknowledges and accepts that, regardless of any information which may be offered by the Company, the value of any investment in Financial Instruments may fluctuate downwards or upwards and it is even probable that the investment may become of no value.

15.2 The Client unreservedly acknowledges and accepts that he runs a great risk of incurring losses and damages as a result of the purchase and/or sale of any Financial Instrument and accepts and declares that he is willing to undertake this risk.

15.3 The Client declares that he has read, comprehends and unreservedly accepts the following:

i. Information of the previous performance of a Financial Instrument does not guarantee its current and/or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the Financial Instruments to which the said information refers.

ii. Some Financial Instruments may not become immediately liquid as a result e.g. of reduced demand and the Client may not be in a position to sell them or easily obtain information on the value of these Financial Instruments or the extent of the associated risks.

iii. When a Financial Instrument is traded in a currency other than the currency of the Client‘s country of residence, any changes in the exchange rates may have a negative effect on its value,

                    price and performance.

iv. A Financial Instrument on foreign markets may entail risks different to the usual risks of the markets in the Client‘s country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations.

v. The Client must not invest in Financial Instruments unless he is willing to undertake the risks of loosing entirely all the money which he has invested and also any additional commissions and

other expenses and losses incurred.

15.4 The Client acknowledges and accepts that there may be other risks which are not contained in

this Paragraph 15 and has read and accepted all information under the titles ― GENERAL RISK DISCLOSURE

as this information is loaded on the Company‘s webpage publicly available to all Clients.

RELATIONSHIP BETWEEN THE COMPANY AND THE CLIENT

16.1 The Company reserves the right to use, employ or appoint third qualified and duly trained persons for the purpose of mediating in the execution of orders and the conclusion of transactions for the Client.

16.2 The Company declares that it takes all necessary measures, where possible, in order to anticipate or solve any conflicts of interest between, on the one hand itself and its associated persons and Clients and on the other hand, between its Clients. However, the Company draws the Client‘s attention to the following possibilities of a conflict of interest.                                                                            

i. The Company and/or any associated Company and/or any Company which is a member of the group of companies to which the Company belongs to, might:

(a) Enter itself into an agreement with the Client in order to execute his Order;

(b)  Be an issuer of the Financial Instruments in which the Client wishes to conclude a transaction;

(c)  Act on its behalf and/or for another Client as purchaser and/or seller and may have an interest in the Financial Instruments of the issuer in which the Client wishes to conclude a transaction;

(d)  Act as an Agent, and/or have any trading or other relationship with any issuer;

 (e) Pay  a  fee  to  third  persons  who  either  recommended  the  Client  to  the

Company or who mediated in any way so that the Client’s Orders are

forwarded to the Company for execution.

ii. The Company may execute different orders (even contrary to one another) on behalf of different Clients.

16.3 The relationship between the Company and the Trader is Client- Provider relationship. There will be no employer-employee and/or partnership relationship between the Company and the Trader. The Trader understands and agrees that the Company profits from the trading expenses cleared from the Trader's Deposit by the Company. The Trader will only be entitled to receive his Deposit or Trader’s Equity back from the Company, according to the terms and provisions of this Agreement.

16.4 As stated above, the Client has read and accepted the CONFLICTS OF INTEREST POLICY the Company has adopted as this policy is mentioned in detail in the Company‘s main website public and available to all Clients.

CONFIDENTIAL INFORMATION

17.1 The Company shall have no obligation to disclose to the Client any information or take into

consideration any information either when making any decision or when it proceeds to any act on behalf

of the Client, unless otherwise expressly cited in this Agreement and where this is imposed by the relevant Laws, Regulations and directives in force.

17.2 The Company has the right, without informing the Client beforehand, to disclose such details of the Client‘s transactions or such other information as it may be deemed necessary in order to comply with any requirements of any person entitled to require such a disclosure by law or with any Company obligation to proceed to the said disclosure to any person.

17.3 The Company will handle all of the Client‘s personal data according to the relevant Laws and Regulations for the protection of Personal Data.

NOTICE

18.1 Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other  communications to be given to the Company by the Client under the Agreement shall be in writing and shall be sent to the Company‘s mailing address which appears on the first page of the Agreement or to any other address which the Company may from time to time specify to the Client for this purpose and shall take effect only when actually received by the Company, provided they do not violate and are not contrary to any term of this Agreement.

18.2 The Company reserves the right to specify any other way of communication with the Client.

18.3 The Agreement is personal to the Client who does not have the right to assign or transfer any of his rights and/or obligations hereunder.

18.4 The Company may, at any time, assign and/or transfer to any legal or natural person any of its rights and/or obligations as they arise or are provided for in the Agreement.

GENERAL PROVISIONS

19.1 The Client acknowledges that no representations were made to him by or on behalf of the

Company which have in any way incited or persuaded him to enter into the Agreement.

19.2 Joint Account - If the Client is more than one person, the Client‘s obligations under the Agreement shall be joined and several and any reference in the Agreement to the Client shall be construed, where appropriate, as reference to one or more of these persons. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client.

Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client. In case of contradiction between instructions given to the Company by different persons, then the last instruction received by the Company will prevail.

19.3 In case any provision of the Agreement is or becomes, at any time, illegal void or non-enforceable in any respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.

19.4  All  transactions  on  behalf  of  the  Client  shall  be  subject  to  the  laws  which  govern  the

establishment and operation, the regulations, arrangements, directives, circulars and customs (jointly hereinafter called the ―”Laws and Regulations”) of the Cyprus Securities and Exchange Commission (CySEC),  the Central Bank of Cyprus and any other authorities which govern the operation of the Investment Firms, as amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers desirable in view of compliance with the Laws and Regulations in force at the time. Any such measures as may be taken and all the Laws and Regulations in force shall be binding for the Client.

19.5 The Client shall take all reasonably necessary measures (including, without prejudice to the generality of the above, the execution of all necessary documents) so that the Company may duly fulfill its obligations under the Agreement.

19.6 The Client undertakes to pay all stamp expenses relating to the Agreement and any documentation which may be required for the execution of the transactions under the Agreement.

19.7 The location of detailed information regarding the execution and conditions for the investment transactions in  Financial  Instruments  markets  conducted by the  Company,  the following Terms  and Conditions, and also the other information regarding the activity of the Company are accessible at the Company‘s main website over the Internet — www.colmexpro.com .

APPLICABLE LAW, JURISDICTION

This Agreement and all transactional relations between the Client and the Company are governed by the Laws  of Cyprus and the competent court for the settlement of any dispute which may arise between them shall  be the District Court of the district in which the Company‘s headquarters are located. The Company however, shall have the right, in order to collect funds owed to the Company by the Client, or to

protect the Company's legal interest(s), to immediately bring legal proceedings against the Trader, in the Client's residency and according to the Client's residency applicable law.

TAX

21.1. Client's Tax Allocations - Any tax applying on the Client and/or results from the Client's trading activity, including trading profits and/or trading losses and/or any charges and/or deductions made  from  the  Trader  Deposit  or  Client’s  Equity,  shall  be  under  the  Client's  full  and  sole responsibility. The Client shall personally report and pay any personal, federal, state and local tax liability he is obligated to, if applied. The Company serves as a mediator only and does not deduct, pay or withhold tax from the Trader’s Deposit. The Company reserves the right, if ordered by an official entity, to deduct tax from the Trader’s Deposit and deliver it to the proper tax authority as ordered by the official entity.

21.2. Tax Considerations. Any capital gains, income, transfer, gift or other taxes imposed upon any transferor or transferee as a result of any conveyance of any interest in the Company shall be exclusively the responsibility of the person upon whom such tax is imposed.

21.3 No Tax Advice. The Company does not advise the Clients regarding any tax consequences. The Company may provide or publish general market information. By doing so, the Company gives no representation, warranty or guarantee as to their accuracy or completeness or as to the trading and/or tax consequences of any trade.

21.4 FATCA Reporting:  The Company, its Affiliates and its and their agents and service providers may collect, store and process information obtained from Client or otherwise in connection with the Agreement and the Transactions for the purpose of complying with FATCA or other Applicable Regulations, including disclosures between themselves and to Governmental Authorities. Client acknowledges that this may include transfers of information to jurisdictions which do not have strict data protection, data privacy laws or banking secrecy laws.

CLIENT’S DECLARATION

The Client solemnly declares and confirms that:

i. He has carefully read and fully understood the entire text of the above terms and conditions

Agreement with which he fully and unreservedly agrees;           

ii. He has read and went through all information provided on the internet regarding the Company, its services,  relevant  fees  and  costs, contract specifications, general  risk  disclosure,  Client  categorisation,  investor compensation fund, conflict of interests policy, order execution policy, and has found all relevant information up to standards.

iii. He consents and agrees to direct advertising through cold calling, either by phone or personal

representation, facsimile, automatic calls, email or other phone, electronic or digital means by the Company.            

iv. He is over 18 and to the best of his knowledge and belief, the information provided in the

Investor’s  Questionnaire and any other documentation supplied in connection with the application form, including the Non-Professional Subscriber Questionnaire which is a requirement of NASDAQ OMX (applicable to Securities and CFDs  on securities trading), is correct, complete and not misleading and he will inform the Company of any changes to the details or information entered in the Investor‘s Questionnaire.

v. He accepts to be notified separately in writing if the Company pays commission/fees to anyone outside the Company who introduced the Client or who acts on behalf of the Client.

vi. He accepts that any orders he will place with the Company, the Company will act as a Principal or an Agent on the Client‘s behalf. Clients’ orders are executed against the Company’s own capital or via third party broker(s). The Company’s execution venues are OTC (over-the-counter) markets.

He consents to communicate with the Company in a durable medium other than on paper including electronic means like email or the Company’s main website. In this respect the Client confirms that he has regular access to the internet

viii. He has chosen the investment amount, taking his total financial circumstances into consideration which he considers reasonable under such circumstances.

Made today [date]…….……………………………………………………… of year …………………………………

THE CLIENT                                                                 THE COMPANY 

Signature: __________________________                Signature: ____________________   

           Full name:                                        ______                           

            [ID/PASSPORT NO.]                                          ______

All non-professional subscribers of a Distributor or Client Organization must submit this form to NASDAQ OMX to qualify for Non-Professional rates.

Section 1: Contact Information

Name:

 

Primary:

Address:

 

Telephone:                                                                          Email:

 

Street:                                                                                  Street:                                                                                  City:                         Zip:                  Country:_              

     

Section 2: Software/Data Provider Information

Please list all of the Data Providers from which you receive Market Data.

 

Software/Data Provider (Required)

Account #/User I.D. (Optional)

Trader I.D. (If Applicable)

#1

o  Pro Trader

 

 

#2

o  Expert Trader

 

 

Section 3: Non-Professional Questions

Questions

Yes

No

Are you a Subcontractor or Independent Contractor of the firm listed above?

o

o

Are you trading using the firm’s capital?

o

o

Are you trading using comingled funds with the firm listed above?

o

o

Are you a Securities Professional? Are you….

Registered with any state, federal or international securities agency or self-regulatory body?

Engaged as an Investment Advisor?

Employed by an organization that is exempt from U.S. securities laws that would

   otherwise require registration?

o

o

Are you using NASDAQ OMX data for a business, professional or other commercial purpose not   compatible with Non-Professional Status?

o

o

Are you accessing NASDAQ OMX data via a Trading Authorization form or similar document?

o

o

Are you trading on behalf of the broker/dealer above, or any other proprietary trading group?

o

o

8. Is your trading activity related to a corporation, partnership, or similar organization whereby their primary purpose is trade for the benefit of the organization?

o

o

9. Do you rent a seat which allows personal trading, i.e. none comingled funds? If yes,

please provide the following:

Clearing Firm: __________________________________Clearing Acct#: ________________________

o

o

Pro Trader in section two above, refers to data provider View Trade Inc.Expert Trader in section two above, refers to data provider MB Trading Inc. (“MBTFS”)

 

 

________________            ___________________                 _____________

Client`s signature           Full name                             Date

 

 

To download the full agreement click here