Terms & Conditions
1. DEFINITIONS AND INTERPRETATIONS
The following terms, mentioned in this Terms and Conditions, are as follows:
Access Code: Are Login and password given by the Company to the Client to access the Online Trading Platform or the Website;
Access Data: Includes Access Codes, Client’s Account Number, and other information necessary to make orders with the Company.
Account: Any transaction account through which trading in Financial Instruments can be carried out.
Application Form: The application form completed by the Client prior to entering into these Terms and Conditions.
Balance: The total amount of funds on the Account after the last transaction made within any period.
Base currency: The first currency in the Account.
Business Day: Any day, other than Saturdays or Sundays, December 25, or January 1.
Client (You): You as a party to these Terms and Conditions.
CFDs: A spot and/or forward Contract for Difference on the following underlying assets: Currencies (Spot FOREX), Metals, Commodities, Futures, Options, Forwards, Stocks, Indices.
Company (We): CoinsBanking - The brand managed by the company named of Coinswitch LTD.
Contract Specifications: All trading information concerning spreads, swaps, margin requirements, etc. (including lot size or any type of underlying assets).
Currency Pair: Pair of two currencies (the Quote Currency and the Base Currency) showing what amount of the Quote currency required for purchasing one unit of the Base Currency.
Financial Instrument(s): Are instruments such as CFDs, NDFs, and Rolling Spot (as defined below).
Leverage: A ratio with respect to Transaction size and initial margin.
Margin: Required funds for opening the positions or for maintaining open positions, as set out in the Contract Specifications for each Underlying asset in a Financial Instrument.
NDFs: Non-Deliverable Forwards and has the same meaning as CFDs.
Online Trading System: software used by the Company which enables the Client to obtain information of markets in real-time and/or under off-exchange conditions, make respective analysis, carry out Transactions, place/alter/cancel Orders, receive notices from us and keep a record of transactions carried out.
Open Position: A deal of purchase/sale not covered by the opposite sale/ purchase of the contract.
Order: An instruction in Financial Instruments available for Transactions on the Online Trading Platform.
Parties: The parties to these Terms and Conditions: The Company and the Client.
Pending order: Order to buy or sell a Financial Instrument at the price different from the market price.
Quote: The information of the currency price for a specific Underlying asset of a Financial Instrument, in the form of the bid and ask prices.
Quote Currency: The second currency in the currency pair.
Rolling Spot: Same meaning as CFDs.
Services: Services provided by the Company to the Client under these Terms and Conditions.
Slippage: The difference between the expected price and the price at which the trade is actually executed.
Spread: The gap between the ask and the bid prices of a security or asset at that same moment.
Standard Lot: 100,000 (one hundred thousand) of the base currency ($/€/£).
Stop Loss: means an offer to close a transaction at a price determined in advance by the Client which, in case of a transaction that is opened by offering to buy a specific number of a certain instrument, is lower than the opening transaction price, and in case of a transaction that is opened by offering to sell a specific number of a certain instrument, is higher than the opening transaction price.
Stop Out: The situation when the Company closes all open positions at the current market price or the last available price and the Client’s equity divided by balance falls below the stop out level specified for Client’s account type.
Swap or Rollover: The interest added or deducted for holding a position open overnight.
Swap Rates: The rate of the fixed portion of a swap at which the swap will occur for one of the Parties entering into a Financial Instrument.
Take Profit: An offer to close a transaction at a price determined in advance by the Client which, in case of a transaction that is opened by offering to buy a specific number of a certain instrument, is higher than the opening transaction price, and in case of a transaction that is opened by offering to sell a specific number of a certain instrument, is lower than the opening transaction price.
Trade Confirmation: A message from the Company to the Client confirming the transmission for the execution of the Client’s Order.
Transaction: Any deal in a Financial Instrument.
Underlying assets: Forward and/or futures contracts on Currencies (Spot FOREX), Metal, Commodities, Futures, Options, Forwards, Stocks, Indices.
Website: CoinsBanking or any other Website under the Company’s trade names.
2. THE PARTIES
" Coinswitch LTD" owner of the trade name: CoinsBanking (hereinafter “the Company” or “We” or “Us”) is a party to these Terms and Conditions as well as the end-users, which completed the Application Form and have been accepted.
3. ENTERING INTO FORCE
3.1. These Terms and Conditions will come into force Once we confirmed the account and it has been opened and we have accepted you as a client. By placing Orders with the Company, the Client acknowledges that he is bound by these Terms and Conditions.
3.2. The Company may choose to not accept you as a Client until all Know-Your-Client (KYC), Anti-Money-Laundering (AML) documentation required has been received completely, and you satisfy the KYC and AML requirements to open an Account for You.
3.3. Citizens/residents may be restricted from using the Services if they are from specific countries. U.S. citizens or U.S. residents are strictly not allowed as clients due to the US Securities and Exchange Commission (“SEC”) regulations.
4.1. Upon opening of the Account, the Company will provide the following services (hereinafter “Services”) to the Client:
(a) Receive and transmit orders for you regarding respective Financial Instruments;
(b) Provide foreign currency services if they are associated with the provision of the investment Service;
(c) Provision of safekeeping and administration of the Financial Instruments for the Account of Clients;
(d) General recommendations regarding transactions in Financial Instruments.
4.2. The Client hereby acknowledges and accepts that Services do not include any investment advice. It is also acknowledged and accepted that investment information announced by the Company does at no time constitute a piece of investment advice; accordingly, it can at no time be considered as such by the Client. Furthermore, the Client hereby acknowledges and accepts that the Company is not in responsibility for any information given to the Client or investment and/or transaction made by the latter.
4.3. The Client hereby declares that it provides the Company, and the Company relies on the information provided by the Client with the accurate information about its knowledge and experience in the financial markets and investment fields.
The Client hereby accepts, acknowledges and understands:
5.1. That it has thoroughly read and fully understood these Terms and Conditions;
5.2. That it is not entitled to deliver the Underlying assets or ownership of the financial Instrument or any interest therein.
5.3. That CFDs trading and/or Forex trading and/or trading with other financial instruments are not done in a regulated market.
5.4. The Company acts as an agent while affecting any Transactions with the Client. The Company will be transmitting the Clients’ Orders to other broker(s). The Client accepts and acknowledges hereby that these brokers may operate in unregulated markets as well. The Company does not influence the prices for the Financial Instruments the Client trades on the Online Trading Platform.
5.5. Funds placed in the account does not accrue any interest;
5.6. That the Client has read, understood, found satisfactory and accepted, as an integral part of this Terms and Conditions, the following information provided on our Website: Risk Disclosure, Trading Conditions.
5.7. The Company retains deposits only to maintain margins supporting the trading account and activities. The Client’s account serves only for trading purposes.
5.8. The Company may amend these Terms and Conditions on the company’s Website.
5.9. The Client gives its permission to be provided with information regarding Terms and Conditions, investments, Financial Instruments, and others.
5.10. Client's transactions and debiting of all generated profits may be retroactively cancelled if there is abuse of trading strategies and any fraudulent activities.
6. RISK WARNING
The Client hereby declares that it has read and completely understood the Risk warning given by the Company published on the Website.
7.1. The Company and/or the Company’s employees and/or directors and/or owners, shall not be liable for any consequential, indirect, incidental or any loss (including loss of profits and trading losses) that result from Client’s use of the Services.
7.2. The Company is not liable for any losses, damages or claims that result directly or indirectly from any person acquiring any Access Data that the Company has issued to you before you report to us the misuse of your Access Data.
7.3. The Company is not liable for any losses, damages or claims, which result directly or indirectly from any information that the client has relied on, despite the source of the information or from a delay in transmitting of any Order.
7.4. The Company is not liable for any losses, damages or claims which arise directly or indirectly if it fails to receive any documents sent in respect to the Client’s Account or any funds held on Client’s behalf, or if the Client fails to collect any such documentation which the Company may forward to Client.
7.5. The Client agrees to indemnify the Company against any loss, liability, cost, claim, action, demand, or expense incurred or made against the Company in connection with the improper performance of the client’s obligations under these Terms and Conditions.
8. CLIENT’S FUNDS
8.1. The Company is authorized to hold the Client’s funds and funds of other clients in the same clients’ bank account (omnibus account).
8.2. The Company may receive or transfer the Client’s funds to affiliated companies or third parties (e.g. bank, intermediate broker, etc.) with the purpose to carry out the transaction or guarantee that the Client’s obligation to provide Collateral is fulfilled. The Company does not bear any accountability regarding the funds transferred to any third parties. The Client hereby acknowledges and accepts that in case of insolvency or otherwise inability of third parties to satisfy Client’s claims, the Company will have only unsecured claims on behalf of the Client against these third parties. If the funds are not directly deposited in the Company's bank accounts, the company will not be responsible for these funds.
8.3. No interest will accrue on the Client’s funds deposited in the Company’s accounts. The Company can deposit the Client’s funds in overnight deposits and keep the interest accrued.
8.4. The Client can only fund its Account by the money transfer services which are acceptable for The Company.
8.5. The Company is hereby authorized to make any deposits and withdrawals from the Account on Client’s behalf including withdrawals for the settlement of all transactions. The Company is hereby authorized to set-off the Client’s funds against the Client’s obligations to the Company or its representatives.
8.6. The Company may hold the funds of the Client in any jurisdiction at its sole discretion. Funds may be deposited with an entity, which may have claims regarding these funds.
8.7. The Client must deposit a minimum initial amount set by the Website in order to start the trading on The Company's website. if it is not otherwise decided by the Company.
8.8. The Client may withdraw deposited funds subject to Company’s approval according to the latter’s refund policy indicated on the Website. Withdrawal of the funds deposited and/or profit gained through trading transactions is only possible to the account or card from which the Account has been credited. The minimum amount of withdrawal is 50 (fifty) USD unless otherwise decided by the Company at its sole discretion. The Company has the right to charge any withdrawal with a fee in the amount of 30 (thirty) USD.
8.9. The withdrawn funds will be transferred to the account of the Client., once the Client’s identity is verified sufficiently.
8.10. If the Client completes targets, the Company may reward/promote him or her.
8.11. In case of a chargeback, the Company may close/cancel the Account with immediate effect.
9.1. Currency conversions will be done at fair exchange rates announced on the company’s Website/formal channels.
9.2. The Company hereby reserves the right to unanimously adjust the amount of funding required and interest rates offered at any time at its sole discretion.
9.3. If the CFDs are involved in the transactions, the Client may be obliged to make additional payments if the completion of the transaction fails or upon the settlement of it or closing out of Client’s position. The Client may be required to make additional payments via margin against the price of the Financial Instrument, instead of paying (or receiving) the whole purchase (or sale) price immediately. The market price of investment affects the amount of required margin payment.
9.4. The Client will make additional payments to the Company for the purpose of protecting the Company against any loss, damage, or risk related to transactions. Margin will be paid as an outright transfer of funds. The Client has no interest in the transferred funds. The Parties agree hereby that margin will be paid in cash
9.5. If the Company deems that the trading strategies or trading conditions are unacceptable, it is authorized to close or cancel the positions of the client, to decline the establishment of new positions, and to determine the volume of open positions at its sole discretion. The Parties of these Terms and Conditions hereby acknowledge that Stop Out levels are at 25%. The Company is authorized to close open positions below Stop Out level with immediate effect. Furthermore, the Parties acknowledge that the Company is entitled to execute margin calls when the margin level is below 50%, for those activities conducted by the way of MT4/MT5 online trading platforms. In the case of margin, the level falls below 20% open positions will be closed with immediate effect. The Company is furthermore authorized to close any open deals due to an inactivity period of 90 (ninety) days. Hedging positions may be charged with an administration fee of 0.1% of the complete volume in USD per day and the Company may close any hedged positions after 21 (twenty-one) at its sole discretion. The company will be authorized to retain those funds required to cover adverse positions, initial margin, variation margin, any uncleared funds, realized losses, and other funds payable to the Company by the Client under these Terms and Conditions.
9.6. The Parties acknowledge hereby that the Company acquires a lien on all funds held on behalf of Client until the obligations of Client are completely fulfilled.
10. ONLINE TRADING PLATFORM
10.1. The Client shall use Access Codes given by the Company in order to have access to the Online Trading Platform and make transactions.
10.2. The Company may close the access to the online trading platform fully or partially if it has the reasonable doubt that the Client allows unauthorized access to it. The Client hereby solemnly states that it will not carry out any action or omission to challenge the integrity of Company. The Parties acknowledge hereby that the Company is not responsible for any damages or losses resulting from events beyond its reasonable control.
10.3. The Client is forbidden to publish, transmit, or otherwise reproduce information published on the Website, unless explicit approval is given by the Company. The Client is furthermore at no time allowed to alter, remove any copyright, trademark or any other notices that are provided in connection with the information. The Client represents and warrants that it will use the Website and/or Online Trading System solely and exclusively for the benefit of its Account and it will not allow another person to use the Account. Furthermore, the Client represents and warrants that the Access will at no times be disclosed to other persons unless duly authorized under the respective provisions of these Terms and Conditions. The Client is obliged to immediately inform the Company if it suspects or knows that unauthorized person(s) has gained access to the Account. In this case, the Company will take respective measures and provide the Client with alternate Access Data.
10.4. The Client is always responsible for all orders given through its Access Data including in the cases when authorized persons are acting on Client’s behalf.
10.5. The Company may provide the Client with third-party authentication possibilities (via social media). Third-party authentication is the sole responsibility of the Client. The Company reserves the right not to verify information which provided by the Client.
11. CFD TRADING
11.1. The Orders may be placed through Online Trading System or phone as set out herein.
11.2. The Client, authorized under these Terms and Conditions, may place orders through Online Trading System or via phone according to the respective provisions set out here forth.
11.3. While handling their username and/or used IDs, the Client can cancel already existing positions and delete or modify pending orders. The company keeps its rights to decline orders at its sole discretion. Any order received by the Company from the Client other than through the Online Trading System will be ultimately transmitted to Online Trading System. The Company does not check the accuracy of any Order. The Client may not withdraw the Order.
11.4. The Parties acknowledge that all trades will be consider as buy or sell.
11.5. In the event that an Order put by the Client disregards these Terms and Conditions, the Company holds its privileges to acknowledge such Order incompletely or Fully. Regardless, the Client will be exclusively mindful and responsible for the infringement of these Terms and Conditions.
11.6. The Online Trading System enables the Client solely following orders:
- OPEN – enables the opening of a position as a market order or limit order;
- CLOSE – enables closing of an open position as a market order or limit order;
- Adding, removal, editing of orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limits;
11.7. Limit orders are usually made at the demanded price. In case the demanded price is not available on the market, then the order will be assigned as a market order; the same rule applies in case of the requested price for a Take Profit or Stop Loss made at the opening of the trading session.
11.8. It is recognized by the Parties that after the end of the business day, all open spot positions will be naturally moved to the following business day. The Company holds the option to close the open spot position.
11.9. The Clients may at Company’s sole discretion be allowed to specify the closing price for Taking Profit and Stop Loss. In case the Company accepts the respective Orders, then the Company may close the order. In case the position is confirmed, then it cannot be cancelled or changed by the Client. If the value has reached the appropriate level, then the Client is not allowed to cancel or change Take Profit, Stop Loss, and Limit Orders. Orders can be transmitted for execution, cancelled, or changed only within the time period of the trade. In case the Orders are not executed within this time, then they will automatically roll over to the next session. In case the validity term of the Order is not specified, then it is valid for an indefinite period. The following orders: Take Profit, Stop Loss, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limit will be transmitted for execution at the price, which is declared by the Client on the first market price touch. If there arises any technical deficiency of the Trading System, then the Company retains its rights not to transmit the Order or change the price of the transaction if it deems necessary.
11.10. If specific trading conditions are met, both Parties acknowledge that the Orders may not be transmitted at the indicated price. If this will be the case, then the Orders may be transmitted at the first market price. Please, refer to our Risk Disclosure Policy and website for further details about Slippage. Furthermore, the Parties acknowledge that the Company can also determine respective time limits/time frames for Orders at its sole discretion (cutoff times).
11.11. The Parties hereby acknowledge and accept that the Company has a right at its sole discretion at any time to change the respective specifications (leverage, spreads, etc.) and Swap Rates and accordingly credit the Account. The spreads are based on the market rates provided from respective platforms and brokers.
11.12. The Company acts only as an agent of the Client, which is acknowledged and accepted by both Parties while receiving and transmitting the latter’s Orders and the Company’s revenue derives as a fixed share of the spread. In the event that the commission charged by the Company is diminished because of economic situations, at that point Company's liquidity suppliers may not execute the specific transaction.
11.13. The Company acts in accordance with its orders execution policy when receiving and transmitting the Orders. The Company hereby declares that the respective characteristics of the Client, Order, and the Financial Instruments will be considered at all times when receiving and transmitting the Orders.
11.14. The Parties hereby acknowledge and accept that the Company may at any time at its sole discretion refuse to transmit an Order for execution. In this case, the Client can't claim any harms or misfortunes or any sort of reimbursement from the Company.
12. CONFIRMATION OF ORDERS
12.1. The Company may at its sole discretion confirm the instructions and Orders sent through the Online Trading System.
12.2. The Company is provided with its email-address for the purpose of communication by the Client. Any notices/communication will be sent to the Client via the indicated email address or via Online Trading System. The Client is obliged to notify the Company of the change of email address without undue delay. The client will receive the confirmation for each executed Order. The mentioned confirmation shall be deemed as final and conclusive unless notified of the contrary within 48 hours from the receipt of such confirmation.
12.3. The Client has access to the statement of Account on its Account. Any statement (confirmation, proof) issued by the Company is final and conclusive unless the Client files a written objection within 5 (five) business days from the issuance of such a statement with the Company. The Company may provide the Client with the reports on the balance of the Account. Such reports will be provided to the Client within 5 (five) business days from the request of the Client and will be charged with respective fees.
12.4. The Client will be given an access to its Account by means of the Online Trading System.
12.5. The Company has the right to charge each Client with a fixed amount of 100 USD (or less) for Account maintenance once in three months.
13. CLIENT’S REPRESENTATIONS AND WARRANTIES
During the legality of these Terms and Conditions, the Client guarantees that:
- The Client conducts any transaction under these Terms and Conditions as principal, unless properly shown credibly that it acts as an agent of the third party;
- The Client handles any action under these Terms and Conditions in compliance with these Terms and Conditions and relevant laws and regulations;
- The Client is duly authorized to conduct any transaction under these Terms and Conditions;
- Any information disclosed in the application form and any documentation provided to the Company is completely true and accurate;
- All the documents that the Client has provided to the Company are valid and authentic;
- The funds of the Client do not directly or indirectly originate from illegal activities or is used or meant to be used for illegal activities;
- The Client is at least 18 years old and here is no legal impediment whatsoever prohibiting the Client to be bound by these Terms and Conditions;
14. AUTHORIZATION OF THIRD PARTIES
14.1. The Client may authorize a third party to conduct transactions under these Terms and Conditions.
14.2. In order that a third party is to be authorized other than the respective notification from the Client, the third party must be additionally approved by the Company. In case of such approval, the third party will continue to be authorized unless the authorization is retracted by the Client in writing or revoked by the Company. The written notification of such retrieval has to be received by the Company with at least 5 days’ notice prior to the termination date.
15. CLIENT’S RECORDS
15.1. As needed by the relevant law, the Company has the privilege to uncover the data with respect to the Client and his transactions.
15.2. With any termination of these Terms and Conditions The Company may keep the Client’s documents and records of activities for at least 1 year.
16. PAYMENTS TO AND FROM THIRD PARTIES
16.1. both Parties of these Terms and Conditions recognize and affirm that the Company may pay and/or receive fees from third parties (referring agents, business introducers) if the purpose of these payments is the enhancing of the Service provided under these Terms and Conditions.
16.2. The Company has the commitment to uncover further details and information about inducements upon the Client demand.
17. Inquiries AND COMPLAINTS
17.1. If the client wants to send inquiries to the Company, it can do it Via Contact Us page of the Website or via email. Inquiries will be checked and responded within 72 hours by the Customer Support Department.
17.2. The Client has 7 days to submit the complaints (in English only) to the Company of occurring via the means indicated in sub-clause 2.1. of this section (if submitted after 7 days, then the Company has the right not to consider the complaint) and by indicating the following information:
- Client’s Full name;
- Client’s username;
- Email and telephone number;
- The complaint including case/transaction number and evidence.
17.3. The Client shall send its complaints with his registered email address. The Company will respond usually within 5 (five) working days unless the case requires additional time to respond (in this case usually within 4 weeks’ period).
17.4. The Client is obliged to periodically review its account statements and report any recognized errors within the period of 48 hours after the issuance of the respective statement.
17.5. The Parties hereby recognize and acknowledge that the objections may not be made with respect to the subjects beneath:
- Rejection, deletion or reversion of any Order pursuant to the provision set out herein;
- Issues related to the unavailability of trading platform services due to maintenance works conducted;
- Issues related to those transactions made with funds generated as profit from transactions that were canceled by the Company;
- Issues related to account or trading management caused by miscommunication between the parties;
- Issues related to differences in prices of the financial instruments provided by the Company;
- Issues related to technical deficiencies of Trading Platforms.
17.6. If any dispute arises, the Parties accept that the Client's Account and the log files created within the account shall be considered as the ultimate evidence for the Client's complaint. If the needed information on the server log file is non-existent, then the Company at its sole discretion may not consider the complaint. During the time the complaint is being reviewed, the Company may refuse the execution of the changes to the Orders initiated by the Client.
17.7. In case, the Parties agree to settle the complaint/case, the Client agrees in writing to waive any claims (past or present) against the Company and to retract any negative postings/statements regarding the Company. In the event that, the Client won't consent to the respective settlement arrangement, at that point the Company maintains all authority to reject any inducements for the Client.
18.1. The Parties agree hereby that the official language for communication in all matters shall be solely English. All notices, statements, and otherwise shall be sent to the email addresses indicated by the Parties. Notices sent to the Client shall be sent at the email address which is registered on the Client’s Account or given through the Online Trading System. The Client shall provide accurate and up to date contact information.
18.2. The Company has the right to record and monitor all communication between the Parties. The recorded communication between the Parties may be used as evidence in case of any dispute.
19.1. A fixed share of the spread is the representation of the revenue of the Company despite the Client winning or losing deals from the counterparty through which the respective transactions are executed. The amount of the fee is contingent on the frequency/volume of transactions executed and/or other parameters.
19.2. The Client will pay all expenses and charges on time.
19.3. The Company may change the fee structure periodically by publishing them on the Website.
19.4. The Client bears all expenses relating to the execution of these Terms and Conditions and carrying out of the transactions under these Terms and Conditions.
19.5. The Client is solely responsible for all tax-related matters arising out or in connection with the transactions carried out under these Terms and Conditions.
20. FORCE MAJEURE
20.1. The Company 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 of obligations under this Terms and Conditions where such failure, interruption, or delay is due to:
- Act of God (such as, but not limited to, fires, explosions, earthquakes, drought, tidal waves, and floods);
- War, hostilities (whether war be declared or not), invasion, an act of foreign enemies, mobilization, requisition, or embargo;
- Rebellion, revolution, insurrection, or military or usurped power, or civil war;
- Any moratorium regarding the financial services imposed by the competent authority;
- Any event not reasonably under the control of the Company.
20.2. In the event of force majeure, the Party affected shall notify the other Party of such events within 3 business days. In the events of force majeure, the Company suspends and closes the Client’s positions.
21. SUSPENSION AND TERMINATION
21.1. These Terms and Conditions are legally binding until terminated.
21.2. The Company may terminate these Terms and Conditions with immediate effect in case the Client:
- Is in breach of these Terms and Conditions;
- If the Client doesn’t meet the requirements for carrying out the transactions under these Terms and Conditions;
- If the Client fails to meet the requirements regarding the transfer of an open investment position;
- If the termination is required by law;
- If there is reasonable doubt that material adverse change in the financial condition of the Client has occurred that can prevent the Client from performing its obligations under these Terms and Conditions;
- If the respective insolvency procedures have been commenced against the Client;
- If the representations and warranties of the Client are or become inaccurate or untrue;
- If the Client violates the requirements of the law regarding the transactions under these Terms and Conditions;
- If the Client performs any unauthorized or illegal activities on the Online Trading Platform. In this case, all transactions may be canceled; The same applies to scalping (the opening and closing of a position within seconds.) We have a one-minute minimum time interval between opening and closing trades.
- If the Client is or becomes classified as a Politically Exposed Person (PEP);
- If the Client fails to provide any required information and documentation related to Know-Your-Client and Anti-Money-Laundering regulations;
21.3. These Terms and Conditions may be terminated by one or the other Party at any time by sending a written notice.
21.4. Termination of these Terms and Conditions means the closing of the Account.
21.5. Your termination of this Agreement will not affect any obligation or liability that you may then have to us, including any liability or short position you may have arising from or in connection with transactions initiated prior to the termination.
21.6. In case any of the events described in sub-clause 5.2. of this section occurs then the Company may at its sole discretion:
- Terminate these Terms and Conditions;
- Cancel, freeze, and block any open investment positions of the Client;
- Set off the claims against the Client against the funds on the Account;
- Cancel, invalidate retroactively any transactions and debit all generated profits;
- Close the Account.
22. GOVERNING LAW AND JURISDICTION
22.1. All disputes arising out of or in connection with these Terms and Conditions shall be settled in an arbitration court in the UK.
22.2. These Terms and Conditions and all relations between the Parties arising out of these Terms and Conditions or in connection with them are governed by the international commercial law and/or industry practice.