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AGREEMENT
CONTRACTS FOR DIFFERENCE(CFD)
TERMS OF USE
BY USING THIS WEBSITE (“SITE”) OR REGISTERING A WALLET WITH LATOKEN PLATFORM
(“WALLET”)OR USING ANY OTHER LATOKEN SERVICES MADE AVAILABLE TO YOU
THROUGH LATOKEN PLATFORM (COLLECTIVELY, THE “SERVICES”), YOU (“USER”, “YOU”)
ARE AGREEING TO ACCEPT ANDCOMPLY WITH THE STANDARD GENERAL TERMS AND
CONDITIONS OF USE (“TERMS OF USE”) PUBLISHED AT https://latoken.com/terms-of-use
AS AN ADDITIONAL SERVICE, WE ALLOW OUR USERS TO TRADE CFDs (Contracts For
Difference). SUCH TRADES ARE REFERED AS CFD(s), AND ARE GOVERNED BY THE
ADDITIONAL CFD TERMS ANDCONDITIONS SET BELOW. YOU SHOULD READ THE ENTIRE
CFD TERMS OF USE CAREFULLY BEFOREUSING THIS SITE FOR CFD TRANSACTIONS.
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1. GENERAL TERMS OF USE
1.1. As used in these Terms of Use, “LATOKEN” refers to Payex OÜ (an Estonian entity, Company
registration number 14495146) and affiliates thereof. “LATOKEN” may also refer to services,
products, website, content or other materials provided to you by LATOKEN. In the text below,
we may also use The Exchange to refer to LATOKEN.
1.2. using this website By (“site”) or registering a wallet with LATOKEN platform (“wallet”) or using
any other LATOKEN services made available to you through LATOKEN platform (collectively, the
“services”), you (“user”, “you”) are agreeing accept and comply with the standard general to
terms and conditions of use (“terms of use”) published at https://latoken.com/terms- -useof
1.3. All users shall abide by the KYC, Anti-Money Laundering (AML) and Anti-Terrorist Financing
policies set in the Terms of Use.
2. INTERPRETATION
In these Terms:
2.1. "Account" means the account you hold with us and designated with a particular account
number.
2.2. "Applicable Regulations" means:
a. Vanuatu Financial Services Commission (FSA) Rules or any other rules of a relevant
regulatory authority; and
b. all other applicable laws, rules and regulations as in force from time to time.
2.3. "Associate" means an undertaking in the same group as us, a representative whom we or an
undertaking in the same group as us appoint, or any other person with whom we have a
relationship that might reasonably be expected to give rise to a community of interest between
us and them.
2.4. "Base Currency" means US Dollars.
2.5. "Business Day" means a day which is not a Saturday or a Sunday and upon which banks are
open for business in Vanuatu.
2.6. "Contract for Differences" or "CFD" means a Financial Contract for Difference on spot Forex,
stocks, equity indexes, precious metals, virtual currency, or any other commodities available for
trading.
2.7. “Contract” shall mean a trade, purchase or sale of currencies or Financial Instruments in the
market.
2.8. shall mean the value of Financial Instruments in the trading Account plus the “Equity”
unrealized profits or minus the unrealized losses.
2.9. “Financial Instrument” shall mean any derivative contract dealing in an underlying asset,
including Foreign Exchange and Contract for Difference.
2.10. "FSC" is an abbreviation for Vanuatu “Financial Services Commission”.
2.11. or shall mean non-physically-deliverable Foreign Exchange, sale and purchase of “FX” “Forex”
currencies against each other.
2.12. " Electronic Services" means a service provided by us, for example an Internet trading service
offering clients access to information and trading facilities, via an internet service, a WAP
service and/or an electronic order routing system.
2.13. "Event of Default" means any of the events of default as listed in following sections
2.14. "Execution" means the completion of clients’ orders on The Company’s trading platform, where
The Company acts as a principal to clients’ transactions.
2.15. shall mean the ratio in respect of Transaction size and initial Margin. 1:500 ratio “Leverage”
means that in order to open a position, the initial Margin is five (5) hundred times less than the
Transactions size.
2.16. shall mean the necessary guaranteed funds requested to open a position. This is “Margin”
calculated as follows: Lots traded * Contract size / Leverage
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2.17. The result is usually denominated in United States Dollars. Certain Contracts may be
denominated in other currencies, and if you have accounts with other currencies the they may
be used for such contracts.
2.18. “Margin Call” shall mean the forced closing, at current prices, by the Company of Client’s open
positions when Equity falls below the minimum required Margin.
2.19. “Net Open Position” or “NOP” shall mean the difference between the total open volume of
longs and total open volume of shorts of an instrument on a single trading account.
2.20. "OTC" means ‘over the counter’ and refers to transactions conducted otherwise than on an
exchange.
2.21. shall mean the difference between the bid and the ask price of a Financial Instrument “Spread”
at the same moment.
2.22. “Stop Out” shall mean the situation when the Company execute the right to close all Client’s
open positions at current market price or the last available price and your equity divided by
balance falls below the stop out level specified for your account type.
2.23. “Terms”, “these Terms” and “Agreement” refer to the CONTRACTS FOR DIFFERENCE(CFD)
TERMS OF USE AGREEMENT this document in its entirety.
2.24. “Trading Platform” shall mean any information software and hardware complex used by the
Company for the purpose of providing services to the Client in accordance with these Terms.
2.25. “Trading Terminal” shall mean the Client part of the Trading Platform, enabling the Client to
communicate with the Company and/or Transmit orders to the Company.
2.26. shall mean any type of tr “Transaction” ansaction performed in the Client’s Account including
but not limited to purchase and sale transactions involving Financial Instruments, deposits and
withdrawals.
3. CAPACITY
3.1. CFD trading is services are conducted based on the software platform provided by ime Pr
Brokerage Services Limited, which is acting based on Certificate of Principal’s License issued by
the Vanuatu Financial Services Commission on 30.09.2020.
3.2. Prime Brokerage Services Limited is a Vanuatu Corporation, company # 14808, organized on
16.09.2016.
3.3. Payex OÜ is acting in the capacity of the agent of the licensed financial services firm Prime
Brokerage Services Limited .
3.4. We shall treat you as a retail client for the purposes of the FSC s Rules and the Applicable
Regulations.
3.5. This may include, but is not limited to:
a. the requirement for us to act in accordance with your best interests.
b. our obligation to provide appropriate information to you before providing the
services.
c. the restriction on the payment or receipt by us of any inducements.
d. our obligation to achieve best execution in respect of your orders.
e. the requirement to implement procedures and arrangements which provide for the
prompt, fair and expeditious execution of your orders.
f. our obligation to ensure that all information we provide to you is fair, clear, and not
misleading; and
g. the requirement that you receive from us adequate reports on the services provided
to you.
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4. PROVISION OF SERVICES
4.1. Prime Brokerage Services Limited is authorized by VFSC to provide investment services as a
Principal Dealer in Securities. The Client confirms he understands and accepts that, when the
Company is arranging to offer or perform any of its services to a Client, may critically depend in
doing so on other third parties involved in the relevant operation/dealings.
4.2. The Client confirms that, he understands and accepts all the risks resulting from the latter
operation/ dealings with third parties, including but not limited to the risk of default of any
such third party and any possible such consequences to the Client, Client Money, Client
Personal Data or any other form of Client interests whatsoever.
4.3. The Client confirms that, the Company is not responsible in any way whatsoever of any default
of any such third party and of any resulting consequences (including loss) of such default on the
Client, Client Money, Client Personal Data or any other form of Client interests whatsoever.
4.4. By agreeing to this present Terms, the Client irrevocably accepts all risks of any default of any
such third party and of any resulting consequences, as per the previously mentioned.
4.5. You acknowledge that our services do not include the provision of Investment Advice. Any
discussions that might be carried on between the Client and the Company’s employees or any
information provided by the Company will not give rise to any advisory relationship, nor do
they constitute Company’s recommendations to Clients.
4.6. Furthermore, any investment information or materials displayed on the website of the
Company does not constitute investment advice and has no regard to specific investment
objectives, financial situations or particular needs of the Client. The Client understands and
acknowledges that this information is addressed to the general public or broad group(s) of
recipients, and is a product derived from third party information for the the Client to read and
use at her sole discretion. Therefore, the Client confirms and accepts that, the Company does
not bear any responsibility for any Transactions carried out by the Client.
4.7. The Client understands and accepts that, he is solely responsible for any investment strategy,
transaction or investment the Client enters into, and for any activities and/or outcomes
occurring as a result of an authorized, by the Client, third party acting on behalf of the Client in
any business relationship with the Company.
4.8. The Company may choose at its discretion to obtain information about your knowledge and
experience in the investment field. We shall assume that information about your knowledge
and experience is accurate and shall bear no responsibility of any relevant outcome if such
information is inaccurate or there were changes without informing us.
4.9. The Company may offer the Client a free or paid subscription for receiving trading signals
and/or copy trading services from various vendors, in which case the Client’s contact details
shall be automatically forwarded to these vendors unless otherwise instructed by the Client.
Vendors shall only be forwarded the Client’s telephone number for receiving trading alerts by
phone and/or automatic signals or copy trades on the trading platform shall be enabled,
therefore any signals received cannot constitute personal recommendations. Signals issued by
the vendors shall be deemed to be market research only; not taking into account the suitability
for each individual Client. By accepting to receive the vendors’ services, the Client agrees and
consents to the terms and conditions of the vendor as can be found on their respective
website. It is understood and accepted that the Company shall bear absolutely no responsibility
regardless of the circumstances for any such vendors’ failings thereof and/or any losses that
took place or might take place in the future as a result of using the mentioned services. By
continuing to receive the services of these vendors you continue to agree to their terms and
conditions. In case a Client wants to opt-out of these services the Company has to be informed
in writing.
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4.10. The Client must understand that the material of the above-mentioned trading signals such as,
but not limited to, SMS, email, messaging applications etc. does not contain a record of our
trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. The
Company accepts no responsibility for any use that may be made of these comments and for
any consequences resulting in it. No representation or warranty is given as to the accuracy or
completeness of this information. Consequently, any person acting on it does so entirely at
their own risk. The analysis does not involve any specific investment objectives, financial
situation and needs of any specific person who may receive it. Trading signals have not been
prepared in accordance with legal requirements designed to promote the independence of
research, and as such they are considered to be marketing communication. Although we are
not specifically constrained from dealing ahead of the publication of our research, we do not
seek to take advantage of it before we provide it to our clients. We aim to establish, maintain
and operate effective organisational and administrative arrangements with a view to taking all
reasonable steps to prevent conflicts of interest from constituting or giving rise to a material
risk of damage to the interests of our clients. We operate a policy of independence, which
requires our employees to act in our clients’ best interests and to disregard any conflicts of
interest in providing our services.
4.11. The Company may, from time to time in its absolute discretion, withdraw the whole or any part
of its services on a temporary or permanent basis.
5. LEVERAGE
5.1. Leverage obtainable in CFDs trading means that a small deposit or down payment can lead to
large losses as well as gains. It also means that a relatively small movement in the markets can
result to a proportionately larger movement in the value of your investment and this can work
against you as well as for you. CFD Transactions have an inherent risk and you should be aware
of what the implications of this are.
5.2. Leverage restrictions may apply on certain products or jurisdictions as it is imposed by the
relevant industry practices or regulatory requirements accordingly. In addition, it should be
noted that the Company will continuously monitor the Leverage applied to Clients’ positions
and reserves the right to amend the Account’s Leverage depending on the Clients’ trade
volume and trading patterns.
5.3. The Client thus accepts, acknowledges and understands that the automatic reduction of
Leverage in her Account could result in the Account Equity falling below the updated Margin
requirements, which could result in a Margin Call or Stop Out. The Client is therefore strongly
advised to maintain appropriate amount of Margin in his Account(s) at all times in the event of
an automatic reduction of the Account’s Leverage.
5.4. The Company may also add to or change its Leverage Limitations at any time without prior
notice to be given to Clients.
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6. MARGIN TRADING
6.1. CFDs are margin products and the transactions related to them can be done on Margin. This
means that the Client must supply a specified initial Margin, on agreement, of the overall
Contract value.
6.2. If the Account Equity falls below the Margin requirement, the Trading Platform will trigger an
order to close all open positions. When positions have been over-leveraged or trading losses
are incurred to the point that insufficient Equity exists to maintain the current open positions, a
Margin Call will result, and open positions will need to be liquidated.
6.3. The Margin Call process is entirely electronic and there is no discretion applied from the
Company as to the order in which open trades will be closed.
6.4. It is strongly advised that Clients maintain the appropriate amount of Margin in their Accounts
at all times. Margin requirements may vary based on Account size, simultaneous open
positions, trading style, market conditions and the discretion of the Company.
6.5. The Client thus accepts, acknowledges and understands that:
a. The Company does not check whether the Transactions of this nature are
appropriate to his financial situation;
b. Before deciding to trade on Margin he should carefully consider his investment
objectives, level of experience and risk appetite;
c. The Company sets freely the amount of Margin, the assets that may be used as
collateral and the extent of any collateral such assets may provide;
d. All the Client’s assets are therefore blocked and pledged in this respect ;
e. The Company may also change its rates of initial Margin and/or notional trading
requirements at any time without prior notice, which may result in a change to the
Margin the Client is required to maintain;
f. Taking into consideration the low Margin normally demanded for these
Transactions, price variations in the underlying asset may result in major losses,
which could significantly exceed the investment and Margin deposit committed by
the Client;
g. The Client may be required to provide a Margin at very short notice to avoid the risk
of having his positions closed and realizing a total loss;
h. If the Client fails to comply with a request for additional funds within the time
prescribed, the position(s) may be liquidated at a loss and the Client will be liable for
any resulting decit;
i. In certain cases, price changes may be so drastic that the Client’s positions may be
closed with out any period allowed for him to restore his Margin;
j. The Company provides the Client with online access to enable the Client to monitor
his Margin requirement at all times;
k. The Company is not responsible to notify the Client when there is a Margin Call on
his Account; and
l. The Margin Calls are made by the Company directly through the online Trading
Platform only and the Client has the possibility to see on his Account the existing
assets and Margins.
m. During the time period from 23:50 to 00:10 server time increased spreads and
decreased liquidity can take place due to daily bank rollover. In case of inadequate
liquidity/spreads during bank rollover, widened spreads and excessive slippage may
occur. Also fully hedged accounts might also experience stop-outs due to increase in
spreads which leads equity to go below zero, and hence trigger a stop out.
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7. RISK WARNING
7.1. The Client unreservedly accepts, acknowledges and understands that CFDs trading:
a. is highly speculative;
b. carry a high level of nancial risk, as they are subject to excessive price fluctuations fi
which may cause substantial losses;
c. the losses may include all of the Client’s investment and also any additional
commissions and other expenses;
d. is only suitable for persons who are able to cope with the associated risks by bearing
the financial losses; and
e. the Company does not guarantee the capital of the Client’s Account or its value at any
time or any money invested in any Financial Instrument.
7.2. When trading in CFDs, the Client is trading on the outcome of the price of an Underlying Asset
and that trading does not occur on a regulated market but over-the-counter (OTC). The Client
accepts that the Company is the only execution venue, which is a non-regulated market.
7.3. Since virtual currencies are trading on various exchanges worldwide (non-centralized), and
since we derive our pricing from certain exchanges, our pricing might be significantly different
than prices from other exchanges. You should understand the above, and maintain your
account balance accordingly, knowing that our prices can be different from prices observed
elsewhere.
7.4. The Company shall not be responsible for any loss arising from any investment based on any
recommendation, forecast or other information provided. Any opinions, news, research,
analyses, prices, or other information contained on this Website are provided as general
market commentary, and do not constitute investment advice. The Company will not accept
liability for any loss or damage, including without limitation to, any loss or profit, which may
arise directly or indirectly from use of or reliance on such information.
7.5. The contents of any report provided should not be construed as an expressed or implied
promise, as a guarantee or implication that Clients will profit from the strategies herein, or as a
guarantee that losses in connection therewith can, or will be limited.
8. CLIENT’S ACCOUNT / KYC
8.1. The Client shall open an Account with the Company to be able to trade in CFDs offered by the
Company.
8.2. The Client does not intend to use her Account for payment of transactions to third parties.
8.3. The Client understands that no physical delivery of a CFD’s underlying asset that he has traded
through his Account shall occur. All CFD contracts can only be settled in cash. The prices of
these instruments are derived from the underlying assets or currency pairs related to these
CFDs, but in no way you are acquiring any right for delivery of the underlying asset/currency.
Moreover, engaging in trading CFDs with underlying asset a virtual currency pair, and due to
high volatile nature of these pairs, you might be exposed to higher risks than trading the assets
themselves or trading other CFDs with other underlying assets.
8.4. In order to open an Account, a Client needs to fill out online application form, which can be
found in the Company’s website and to upload/send documents required for the KYC
procedure. If you’ve already underwent KYC procedures for other Company’s services no
additional documents may be required. The Company still may request updated
documents/information as it considers nessessary to comply with AML/ATF policies.
8.5. In the event that the required KYC review is not passed to our full satisfaction, any funds
transferred to us will be send back to the source of funding, less commissions paid for the
return transaction(s). The Client will not be able to enter into any transaction
8.6. The Company offers its Clients “negative balance protection”. This means that traders cannot
lose more than the overall size of their investment. In this respect, the Company will bear the
costs associated with settling the negative Account balances to NIL.
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8.7. If the Client has opened more than one Account, the Company shall be authorized to consider
and treat these different Accounts as a single unit. Among other rights that the Company has in
the way of handling these Accounts, is the transferring of funds between Accounts to cover
possible negative balances, of any of these Accounts, without this affecting in any way the right
of the Company to terminate the Account or close all Client’s open positions.
8.8. Any funds received in a currency for which the Client does not hold a sub-Account shall be
converted by the Company into the Client’s Account Base Currency. The conversion will be
made at the exchange rate prevailing on the day and at the time when the relevant funds are at
the disposal of the back-office department of the Company. Upon request, the Client may open
a sub-Account in any other of the Base Currencies offered by the Company.
8.9. The Company permits each Client to open up to five (5) Accounts, to accommodate the Client’s
needs for the below possible scenarios:
a. segregate different trading strategies;
b. use/benefit from different Account types offered by the Company; and
c. maintain Accounts in different Base Currencies.
8.10. Should a Client wish to have more than five (5) Accounts with the Company, it is at the
Company’s discretion to allow for this, provided a valid and clear reason as to why more
Accounts are needed is provided by the Client.
8.11. The Client confirms that, he understands and accepts that, the Company, when arranging to
offer or perform any of its services to a Client, may critically depend in doing so on other third
parties involved in the relevant operation/dealings.
8.12. The Client accepts and irrevocably permits the Company to share any Client’s Personal Data
given to the Company (i.e. KYC / Know Your Client information, etc.) with other third parties
involved in the relevant operation/dealings, as aforementioned, when and as deemed required
by the Company and at the Company’s full discretion. Further details of how we process
personal data are specified in our Privacy Policy available on our website.
9. CLIENT’S CONSENTS
9.1. The Client confirms that is familiar with the way financial markets work and with the
Transactions he wishes to undertake. Any decision to buy or sell should be taken by the Client
alone and should be based on his own assessment of his financial situation and his investment
objectives.
9.2. The Client is responsible to familiarize himself with the Trading Platform, its features and the
orders that are capable of being carried out. The Client will himself monitor his positions on his
Account and he is solely responsible for the current specifications in force relevant to his
Account, including but not limited to leverage, margin, base currency, etc.
10. INTEREST
10.1. The funds credited to the Client’s Account with the Company shall not bear interest.
10.2. By accepting this Terms the Client gives his expressed consent and waives any of his rights to
receive any interest that might be earned on his funds held in the bank accounts of the
Company or of any other parties designated for this purpose by the Company.
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11. FEES, COSTS AND CHARGES
11.1. The Client undertakes to pay the Company the commissions and fees stated on the website of
the Company under the Trading Conditions.
11.2. The Company is entitled to debit the Client’s Account 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. These charges include, but are not limited to, settlement and exchange fees,
regulatory levies or legal fees.
11.3. The Company is not responsible for paying Clients tax obligations in relation to possible income
tax or similar taxes imposed on him by his jurisdiction on profits and/or for trading in Financial
Instruments.
11.4. The Company is also entitled to debit the Clie nt’s Account for extraordinary expenses resulting
from the Agreement between the Client and the Company. Examples of extraordinary
expenses, include but is not limited to Transaction confirmations, Account statements in
hardcopy in situations where the information provided electronically is not sufficient, courier
and postal charges, dispatch of reminders in the case of nonexecution by the Client, charges in
relation to requests from the authorities. These charges might be in the form of fixed amounts
or in the form of hourly rates or a combination of both.
11.5. The Company may change its commissions, spreads and financing fees from time to time
without providing prior notice to the Client.
12. COMMUNICATION BETWEEN THE CLIENT AND THE COMPANY — CLIENT’S ORDERS
12.1. All notices and communications supplied by the Company in conformity with these Terms ,
including Account statements and Transaction confirmations, may, at the Company’s
discretion, be sent to the Client by e-mail or made available in the Client’s Account on the
Trading Platform.
12.2. All notices/information provided by the Company or received from the Clients should be in
English. Translation or information provided in languages other than English in our website is
for informational purposes only and do not bind us or have any legal effect whatsoever; we
have no responsibility or liability regarding the correctness of the information therein.
12.3. Such notices/communications shall be deemed to have been received by the Client and
transmitted in the proper manner once the Company has placed them on the Platform or sent
them by e-mail. The Company shall not be liable for any delay, modification, re-routing or any
other modification that the message might undergo after being sent by the Company.
12.4. The Company shall accept the following communication methods used by the Client to contact
and transmit instructions to the Company:
a. orders placed in the Trading Terminal of the Client;
b. orders placed in writing and duly signed;
c. orders placed by telephone; and
d. orders placed by live "chat"
12.5. The Client is given the option to place with the Company the following Orders for execution:
a. The Client places a "Market Order" which is an Order instantly executed against a
price that the Company has provided. The Client may attach to a Market Order a Stop
Loss and/or Take Profit. Stop Loss is an Order to limit Client’s loss, whereas Take
Profit is an Order to limit Client’s profit.
b. The Client places a "Pending Order", which is an Order to be executed at a later time
at the price that the Client specifies. The Company will monitor the Pending Order
and when the price provided by the Company reaches the price specified by the
Client, the Order will be executed at that price or the first available price.. The
following types of Pending Orders are available: Buy Limit, Buy Stop, Sell Limit and
Sell Stop. The Client may attach to any Pending Order a Stop Loss and/or Take Profit.
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c. The Company will cancel any Orders that remain non executed for three months
from the date the Order was placed.
12.6. The Client will have the right to change the communication method he uses with the Company
at any time and the Company shall not make any checks in relation to this, and accepts these
two communication methods.
12.7. The Client confirms that he is aware of the risks associated with using these communication
methods; in particular the risks that could result from a fault or a misunderstanding at the time
instructions are transmitted. The Client declares that he assumes responsibility for all
consequences that could result there from.
12.8. The Company shall not incur any liability by refusing to carry out orders given by a person
whose identity has not in its opinion been sufficiently verified.
12.9. The Client shall be responsible for all orders and for the accuracy of all information sent via
Internet following the use of the Client’s name, his password or any other personal
identification method set up to identify the Client, regardless of who the actual user is. Any
person who identifies himself in accordance with the Client’s identification methods shall be
considered as being authorized to use the Company’s services. The Company shall consider
such orders or communications as having been authorised and issued by the Client. It is the
Client’s responsibility to keep passwords confidential and to prevent unauthorised use of his
passwords and his Trading Terminals
12.10. For the orders placed in writing, the Company will verify the Client’s signature with the sample
signatures lodged with the Company. The Company shall not be liable for any fraud and/or lack
of identification that it has not been discovered.
12.11. Prior to any transfer order, the Company may request an original written confirmation duly
signed by the Client.
12.12. For orders placed by telephone, the Company will verify the Client’s identity and then transmit
the order. The Company has the right not to transmit the order if the actions of the Client are
not clear and do not include all the required data.
12.13. Orders received by the Company in any means other than through the Trading Platform, will be
transmitted by the Company to the Trading Platform and processed in the same way as though
it was received through the Trading Platform.
12.14. Any order sent by the Client via the Trading Platform shall only be considered as having been
received, and shall not constitute a valid instruction and/or a Contract between the Company
and the Client, until the instruction has been registered as executed by the Company and
confirmed to the Client by means of a Transaction confirmation.
12.15. The Company bears no responsibility for delays or errors occurring during the transmission of
orders or other communication messages via computer, for the accuracy of information
received via computer or for any loss that may be incurred by the Client as a result of the
inaccuracy of this information.
12.16. The Client has the right to use a Power of Attorney to authorise a third person (representative)
to act on behalf of the Client in all business relationships with the Company as defined in this
Terms. The Power of Attorney should be provided to the Company, accompanied by all the
requested identification documents of the representative. If there is no expiry date, the Power
of Attorney will be considered valid until revoked by a written termination by the Client.
12.17. The Company has the right to refuse to transmit a Client’s order for execution without giving
any notice and/or explanation to the Client. Among, but not limited to, the cases that the
Company is entitled to do so are the following:
a. If the Client does not have the required funds deposited in the Company’s Client
Account;
b. If the order violates the smooth operation of the Trading Platform;
c. If the order aims at manipulating the market of the specific Financial Instrument;
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d. If the order is a result of the use of inside confidential information (insider trading);
e. If the order aims to legalize the proceeds from illegal acts or activities (i.e. money
laundering).
12.18. The Client needs to be aware that the Company will refuse to accept or it may cancel any
orders placed and/or executed via the Trading Terminal without any notice if it comes to its
attention that the logic behind those orders is to abuse the whole system (i.e. use of specific
expert advisors to generate volume by opening and closing positions at the same price) in order
this way to gain unfairly benefits for the Client and which is beyond the traditional scope of fair
trading.
12.19. The Company, at its own discretion and without notice, might impose on an account or
instrument basis a limit on the Net Open Position. The company has the right to reject to open
any new positions if the result after opening the positions would increase the Net Open
Position of a certain instrument above the limit set.
12.20. Please note that it is within the rights of the company and without any prior notice to the client
to set an instrument in a close only mode. Therefore the client consents and acknowledges that
he/she will not be able to open new positions on a certain instrument but only to close the
existing ones.
12.21. The Client understands that reports and confirmations of order executions, cancellations or
modifications may be erroneous for various reasons. Such confirmations are also subject to
change at the Company’s discretion, in which case the Client shall be bound by the actual order
execution, so long as it is consistent with the Client’s order. In the event that the Company
confirms an execution or cancellation in error and the Client unreasonably delays in reporting
such an error more than 24 hours, the Company reserves the right to require from the Client to
accept the trade, or remove the trade from the Client’s Account, in the Company’s sole
discretion.
13. TRANSFER OF FUNDS
13.1. The client may fund his Account by credit or debit card, wire transfers or SEPA transfers, e-
wallets payment processors, conversion of crypto or any other similar method of money
transfer acceptable by the company from time to time, in its absolute discretion. The Company
shall bear absolutely no responsibility regardless of the circumstances for any such payment
providers failings thereof and/or any losses that took place or might take place in the future as
a result of using the above services. We do not guarantee that all the transfer methods are
available to be used in your country.
13.2. The third parties used in the process of receiving your remitted funds in our Accounts are
disclosed in the “Deposits and Withdrawals” section in our website.
13.3. The Client must clearly specify his name and all required information, in accordance with
international regulations related to the combat against money laundering and terrorism
financing, on the payment document. It is the Company’s policy not to accept payments from
third parties to be credited to the Client’s Account.
13.4. Any amounts transferred by the Client to the Company’s Account or received in any other
forms as specified above, will be deposited in the Client’s Account at the value date of the
received payment and net of any deduction/charges incurred by the transferring bank. It is at
the Company’s sole discretion to return back to the Client any of the fees he incurred in
effecting a deposit into his Account.
13.5. The Company has the right to refuse a Client’s transferred funds, including but not limited to
the following cases:
a. If the funds are transferred by a third party;
b. If the Company has reasonable grounds for suspecting that the person who
transferred the funds was not a duly Authorized Person; and
c. If the transfer violates Vanuatu legislations.
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13.6. If any of the above cases occur, the Company will return the received funds back to the
remitter using the same method as they were originally received.
13.7. By accepting these Terms, the Client gives his consent and authorises the Company to make
deposits and withdrawals from the Client Bank Account on behalf of the Client, including but
not limited to, for settlement of Transactions performed by or on behalf of the Client, for
payment of all amounts due by or on behalf of the Client to the Company or any other person.
13.8. The Client, using the Company’s relevant “Fund transfer request”, shall provide the Company
with his personal bank account details in order for the Company to transfer any amount
payable to the Client. It is the Company’s policy to transfer all amounts directly to the Client’s
personal bank account or card from which he had used to originally fund his Account. Funds are
transferred by the Company within three (3) Business Days from the date they are debited from
the Client’s Account. It may take up to five (5) Business Days for funds to be credited to the
Client’s personal bank account after initiation of the transfer from the Company’s side.
13.9. The Company has the right to suspend or cancel the Client’s instructions for transferring funds
in any, but not limited to, the following cases:
a. If the Client instructs the Company to transfer the funds to a third party;
b. If the Company has reasonable grounds for suspecting that the person who gave the
transfer order was not a duly Authorised Person; and
c. If the transfer violates the local laws and regulations.
14. ANTI-MONEY LAUNDERING PROVISIONS
14.1. According to Prevention and Suppression of Money Laundering Activities regulations applicable
to the Company, the Company is entitled to request from the Client to provide immediately any
additional information concerning the circumstances and the context of a particular
Transaction. The Company shall have the right to refuse orders or instructions received from
the Client as long as the Client has not supplied the information requested by the Company.
14.2. The Company has the right to terminate the Agreement with the Client immediately, to report
the Client to applicable authorities if deemed required, and to prohibit the Client from
withdrawing any of its assets if the explanations provided are deemed inadequate and/or
anything in this regard raises money laundering or terrorist financing suspicion.
15. PROHIBITED TRADING
15.1. Generally speaking, the Company allows all types of trading methods and styles. The Company
does reserve the right, however, to close, suspend or recoup any closed profit and loss from an
Account it deems is engaging in unethical or questionable trading styles including, but not
limited to abuse of price gaps, latency arbitrage, the act of “flooding" of our servers with an
excessive amount of pending orders, excessive logins, “picking and “sniping” or the use of
certain automated trading systems or Expert Advisors, without notice.
15.2. The Company will usually (but is not obligated to always) attempt to initially express its concern
to the Client or the associated parties via email or telephone in the form of a formal warning. If
the Client or the associated party does not modify its trading style within a reasonable time
period following the warning, the Company reserves the right to liquidate all or some open
positions, close, suspend or recoup any closed profit or loss from the Client’s Account, and
return any remaining proceeds to the Client in accordance with the Company’s Account Closing
Procedures or any combination thereof.
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15.3. Fixed and Variable Spread Accounts are offered to Clients that adopt long term trading
strategies instead of trading news’ announcements or other volatile market conditions. The
Company reserves the right, at any time, to revoke a Client’s right to trade with Fixed or
Variable Spreads and may require the Client to move under an ECN premier Spread type
Account.
15.4. The Company reserves the right to liquidate all or some open positions, close, suspend or
recoup any closed profit or loss from Accounts who tend to trade during news or other volatile
market conditions, and return any remaining proceeds to the Client in accordance with the
Company’s Account Closing Procedures or any combination thereof.
16. SWAP, CFD EXPIRATION AND SWAP-FREE ACCOUNTS
16.1. The Client will generally incur a credit or debit in his Account if holding a currency, bullion or
CFD position at the end of each trading session. You may view current swap rates on the
Company’s Trading Platform, and further information about Swap at the Company’s website.
16.2. Once a month, certain CFDs will expire, meaning that expiration will take place one day prior
to the expiration of its underlying futures Contract at our closing bid/ask price. All open
positions will be closed, all floating profit and loss will be realised and all pending orders will be
deleted. No positions will be rolled forward into a new Contract and is at the option of the
Client to reinitiate her closed positions.
16.3. Swap-Free (Islamic) Accounts are generally offered to our Clients of Muslim faith. A swap-free
Account precludes the Account from either being credited or debited swap interest at the end
of each trading session. The Company, however, fully reserves the right to remove the swap-
free designation from any Account which is holding a position in which the Client owes interest
for over 10 trading days. The Company will notify the Client within 24 hours of removal of the
swap-free designation, but is not required to notify the Clients of such removal.
17. CLIENT COMPLAINTS
17.1. The Client shall be required to check the content of each document, including those sent
electronically by the Company or made available to the Client on the Trading Platform. Such
documents should be regarded as authoritative. Complaints shall be addressed, in the first
instance, to the Customer Support Department. You can always contact us through support if
you have any questions https://latoken.zendesk.com/hc/en-us/requests/new . The Client must
inform the Company immediately if an incorrect Transaction appears on his Account.
17.2. Any complaint relating to the execution or non-execution of an order will be considered only
on the expressed condition that it is made in writing upon the occurrence of the events in
question and at the latest before the opening of the relevant market on the day after the
execution, that is, within a 24-hour period from the time of occurrence of the complaint. It
should be noted that the use of an expert advisor or any other program that is used to perform
technological and/or algorithmic trading, also alleviates you of any right to claim any sort of
compensation from the Company.
17.3. Once this period has expired, the Client shall no longer has any rights, of any type and form,
against the Company.
17.4. The document entitled Complaint Form, available in the members’area, should be used for any
complaint a Client may have. The Client may complete the Complaint Form with all the
information requested and may return the form to the Company as mentioned in the specific
document.
17.5. Clients shall contribute to the Company, in handling of Cl ient’s claims, by providing the
Company Support Department with all the necessary information, including, but not limited to:
a. Client’s Name and Surname (for corporate Clients - Company name);
b. Client’s Account login number;
c. Date and time of the issue in the platform’s time zone;
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d. Tickets of orders and positions involved; and
e. Detailed description of the issue.
17.6. The Client has the obligation to avoid any kind of offensive vocabulary, intimidation,
unsubstantiated accusations or emotional interpretation of anything related to his claim or to
the Company or its business.
18. REJECTED COMPLAINTS
18.1. The Company shall have the right, in its sole discretion, to decline Client claims on the lapsing
of the 24-hour period after the occurrence of the relevant incidence. The Company may not
accept claims not delivered to the Company through the designated addresses mentioned in
this Terms.
18.2. The Company shall have the right to decline a Client’s claim or any of its arguments if the server
log file record required for the examination of such claim or arguments does not exist.
18.3. The Company has the right, in its sole discretion, to decline:
a. Client claims related to execution period of any requests or orders;
b. Client claims related to server maintenance works, if such works were previously
announced at the Company’s website not less than 48 hours before the server
downtime;
c. Client claims related to differences between rates quoted by the Company and
similar rates quoted by other companies or institutions (including rates of
underlying assets), except for claims related to manifest errors in the Company’s
data feed; and
d. Client claims related to delays or interruptions of service or transmissions, or
failures of performance of the server, regardless of cause, including, but not limited
to, those caused by hardware or software malfunction; governmental, exchange or
other regulatory action; war, terrorism, or the Company’s unpremeditated acts.
19. USE OF THE IT SYSTEM
19.1. Predominantly, the Client shall transmit instructions to the Company using the IT system
provided. The Company shall communicate with the Client exclusively via the IT system. It will
be the Client’s responsibility to take all necessary actions to ensure that he is able to access any
communications that may be sent to him.
19.2. The Client is aware of the fact that using computers and the Internet exposes him to a number
of risks including, in particular:
a. The possibility that an unauthorised third party might access his Client’s Account;
b. The possibility that the relationship between the Client and the Company might be
revealed;
c. The possibility that computer viruses might infect the Client’s computer system
without the Client’s knowledge; and
d. The possibility that third parties might send messages to the Client, claiming to
represent the Company.
19.3. The Client undertakes to obtain full information, and acknowledges that he is solely responsible
for doing so, in respect of the risks to which he may be exposed and any necessary security
measures he ought to have taken.
19.4. The Company will not be liable for any loss suffered by the Client resulting from the IT use,
including in particular the actions of unauthorised third parties introducing themselves as the
Client or the Company, transmission errors, transmission failures, technical faults, overloads,
breakdowns (including but not limited to maintenance activities due to the maintenance of IT
systems), system downtime, malfunctions, interference, attacks (e.g. hacking), blocked
communications and networks (e.g. mail bombing) or other failures, regardless of who is
responsible.
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19.5. The Client will therefore take the necessary precautions to ensure the confidentiality of all
information, including, among other things, the system password, user ID, portfolio details,
Transaction activities, Account balances, as well as all other information and all orders.
19.6. The Client undertakes to notify the Company immediately if it comes to his attention that his
system password is being used without authorization.
19.7. The Client hereby assumes all liability arising in connection with technical access to the
Company’s services.
19.8. The Client shall be responsible for acquiring, installing and con eing the appropriate figur
hardware and software, in order to set up his connection with the Company’s online services.
The Company shall not be liable for any actions of the access provider and/or hardware that it
has not supplied itself.
20. RECORDING OF CONVERSATIONS
20.1. The Client acknowledges, accepts and consents the fact that the Company will record and/or
produce a written record of telephone conversations, internet based conversations (chat) and
meeting minutes between the Company and the Client.
20.2. The Client allows the Company to use these recordings or the transcripts of these recordings as
evidence in relation to the investment services offered and to disclose such information as part
of any litigation or litigation that it expects to arise between the Client and the Company.
20.3. The Company may provide copies of such recordings of telephone calls to a regulatory
authority of a competent authority, without informing the Client.
20.4. Technical reasons could prevent the Company from recording a conversation and the
recordings or the transcripts produced by the Company will be destroyed in accordance with
the Company’s normal practice. Therefore, the Client must not expect that these recordings
will be available to him.
21. OUTSOURCING
21.1. The Company provides its Clients with trading services using an internet based trading system.
The Company has outsourced the development, physical hosting, maintenance and updating of
its online Trading Platform to several foreign entities. The Company’s Clients will not have any
direct contact with these entities and the Company will take all reasonable steps to ensure the
security of all the data regarding the identity of its Clients. The Client hereby acknowledges and
accepts the fact that the Company outsources such activities.
22. RIGHT OF SET- OFF
22.1. The Company shall have the right, at its discretion and without the Client’s authorization, of a
“set off” against the Client’s claims, for all claims arising out of its relationship with the Client. -
This right of set-off shall exist regardless of the expiry date of any claims, the currency in which
they are denominated and their nature.
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23. GENERAL PROVISIONS
23.1. The provision of services to the Client is subject to all applicable laws, regulations, and other
provisions or market practices to which the Company is subject to. If any provision of these
Terms shall be found by any court or administrative body of competent jurisdiction to be
invalid or unenforceable, this shall not affect the other provisions of these Terms, which shall
remain in full force and effect.
23.2. No party shall, without the prior consent of the other party, assign, transfer, charge or deal in
any other manner with these Terms or any of the rights under it.
24. AMENDMENTS
24.1. ese Terms may be amended at any time by the Company as may be applicable due to Th
regulatory amendments, as well as internal policies. Clients are expected to monitor and
ensure they are up to date with the latest amendments made; to this end the Company will
ensure to have visible in its Terms the date of the most recent amendments made.
25. TERMINATION
25.1. ese Terms will be valid until its termination as provided below. Th
25.2. The Company reserves the right to terminate the agreement with the Client implied in these
Terms, including but not limited to any pending fee or amount payable to the Company, any
charge or expenses incurred or to be incurred as a result of the termination of this Agreement,
as well as any other expenses that might arise during the settlement of the pending obligations.
25.3. The Company has the right to subtract all above pending obligations from the Client Account.
The termination of this Agreement does not influence in any way the rights, contractual
provisions, commitments, obligations and liabilities of either party.
26. FORCE MAJEURE EVENT
26.1. Except as expressly provided in these Terms, we will not be liable or have any responsibility for
any type of loss or damage arising out of any failure, interruption, or delay in performing our
obligations under these Terms where such failure, interruption or delay is due to:
a. Government actions, the outbreak of war or hostilities, the threat of war, acts of
terrorism, national emergency, riot, civil disturbance, sabotage, requisition, or any
other international calamity or political crisis;
b. Act of God, earthquake, hurricane, typhoon, flood, fire, epidemic or other natural
disaster;
c. Labor disputes not including disputes involving our workforce;
d. Suspension of trading on a market, or the fixing of minimum or maximum prices for
trading on a market, a regulatory ban on the activities of any party (unless we have
caused that ban), decisions of state authorities, governing bodies of self-regulating
organizations, decisions of governing bodies of organized trading platforms;
e. A financial services moratorium having been declared by appropriate regulatory
authorities or any other acts or regulations of any regulatory, governmental, or
supranational body or authority;
f. Breakdown, failure or malfunction of any electronic equipment, network and
communicationlines (not due to the bad faith or willful default of ourselves), hacker
attacks and other illegal actions against our server and Online Trading System; and
g. Any event, act or circumstances not reasonably within our control and the effect of
that event(s) is such that we are not in a position to take any reasonable action to
cure the default.
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26.2. In the event of force majeure, the affected Party must notify the other Party of the
circumstances and of the events beyond its reasonable control within 3 business days.
26.3. In the events of force majeure we may suspend, freeze or close your positions.
27. GOVERNING LAW AND JURISDICTION
27.1. The relationship between the parties shall be governed solely by and construed solely in
accordance with the laws of the Republic of Vanuatu and in particular to the CHAPTER 70 of the
PREVENTION OF FRAUD (INVESTMENTS) QR 9 of 1971 /QR 3 of 1978 /Act 10 of 1988.
27.2. Any dispute relating solely to our performance of the agency function (i.e. not related directly
to the CFD trading itself) shall be governed solely by and construed solely in accordance with
the laws of the Cayman Islands
27.3. Nevertheless, the Company reserves the right to initiate proceedings before any competent
court or jurisdiction, including in particular the courts in the country of which the Client is a
citizen or in which he resides.
28. CLIENT DECLARATION
28.1. By initiation of any CFD related activity by the Client confirms that:
a. The Client has read, understood and accepted these Terms in its entirety.
b. The Client read, understood and accepted the section entitled Risk Disclosure and he
has understood the warnings contained in this document.
c. Client declares that he has read, understood and accepted all the information
provided in, or linked/directed to/by, this present rms as updated from time to Te
time on the Company’s website.
d. The Client declares that he is over 18 years old and/or has full capacity (in case of
legal entities) to enter and be bound by these Terms and that he is not prohibited by
the legislation/regulations of his country of residence to enter into the Agreement
implied in these Terms.
e. The Client declares that all information provided in the “ ” is true, KYC questionnair
accurate, complete and not misleading and that he undertakes to inform the
Company of any changes that might occur to the data/information provided in the
KYC onboarding process