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Client Categorisation Policy

Following the implementation of the Markets in Financial Instruments Directive (MiFID) in the European Union and in accordance with the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007) in Cyprus, Capital Com SV Investments Limited (“we”, “CAPITAL.COM”, “the Company”), a company authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 319/17) with registered office at 6th floor, Lophitis Business Centre II, 237, 28th October Street, Limassol, PC3035, is required to categorise clients, those to which the Company provides, intends to provide or has provided a service in the course of carrying on a regulated activity.

The Company will be offering its services to retail clients that are individuals only.

Special Statement for Residents of Spain. The Company trades CFDs. CFD is a product that is complex and difficult to understand. The National Securities Market Commission of Spain (Comisión Nacional del Mercado de Valores) has determined that, due to the complexity of the CFDs and the risks involved, the purchase of CFDs by retail investors is not appropriate/suitable. A CFD is also a leveraged product and the losses incurred may be greater than the amount initially invested.

  1. General notifications

The Company, prior to the provision of services, must notify a new client of their categorisation and inform the client in a durable medium of:

(a) any right that client has to request a different categorisation; and

(b) any limitations to the level of client protection that such a different categorisation would entail.

The client categorisation criteria are outlined below.

  1. Retail Clients

A retail client is a client who is not a professional client or an eligible counterparty.

CAPITAL.COM recognises that clients should be in general allowed to request to be placed into a different category other than retail. However, CAPITAL.COM will only be providing its services exclusively to retail clients that are individuals and as such will not be able to accommodate such recategorisation.

If such recategorisation is of material importance to our client and prevents him/her from using our services, such client may terminate his/her arrangements with CAPITAL.COM under our Terms & Conditions.

At the point that the Company expands its client base to include professional and eligible counterparties, the relevant notifications will be made to existing clients and appropriate changes will be introduced to this Policy.

  1. Protection Rights

Since all of our clients are retail clients, they all enjoy the same level of protection under the applicable laws and regulations, providing, among other things, that:

  1. a client will be given full, precise and easy to comprehend information/disclosures concerning CAPITAL.COM, its services and any investments, its cost, commissions, fees and charges and the safeguarding of client financial instruments and client funds;
  2. CAPITAL.COM will request the client to provide information regarding his/her knowledge and experience in the investment field relevant to the specific type of product or service offered or demanded so as to enable the Company to assess whether the investment service or product envisaged is appropriate for the client. In case the Company considers, on the basis of the information received, that the product or service is not appropriate for the client, the Company will alert the client accordingly;
  3. when executing orders CAPITAL.COM will take all reasonable steps to achieve what is called “best execution” of the client’s orders that is to obtain the best possible result for their client as defined in the Company’s Order Execution Policy;
  4. CAPITAL.COM will inform clients of material difficulties relevant to the proper carrying out of their order(s) promptly upon becoming aware of such difficulties;
  5. CAPITAL.COM will provide clients with full and explicit information on the execution of the relevant client orders;
  6. CAPITAL.COM will enter into the Terms & Conditions with the client, that outline the essential rights and obligation of both parties;
  7. CAPITAL.COM will make adequate arrangements for financial instruments held on behalf of a Client to prevent their use by the Company for its own account by depositing them with a third party in manner that would make them identifiable from the Company’s financial instrument held with that third party (if any) and identifiable from the financial instruments held by that third party as well;
  8. clients may be entitled to compensation under the Investor Compensation Fund for Clients of Investment Firms;
  9. CAPITAL.COM will make adequate arrangements to prevent the use of client funds for its own account by depositing them entirely into segregated bank accounts.
  1.   Special Warnings for Residents of Spain

For clients that are residents of Spain ("Spanish clients”) that will be allowed to trade with leverage above 1:10 a special set of required warnings regarding CFDs will be shown by the Company. The Company shall also obtain a handwritten statement from each of our Spanish clients acknowledging his or her understanding that CFDs are complex products that are not appropriate/suitable for retail clients.

If we determine that our product is appropriate and suitable for a Spanish client the following warning will be shown to that client:

“You are about to purchase a CFD, a product that is complex and difficult to understand. The National Securities Market Commission of Spain (Comisión Nacional del Mercado de Valores) has determined that, due to the complexity of the CFDs and the risks involved, the purchase of CFDs by retail investors is not appropriate/suitable. Nevertheless, Capital.com has assessed your knowledge and experience and has determined that CFDs are convenient for you.

The CFD you are about to purchase is a leveraged product. Please be aware that the losses incurred may be greater than the amount initially invested.

Please be aware that if you decide to close your position immediately after purchasing you will have to pay [the relevant amount and currency shall be indicated]”.

Prior to the first two (2) trades, the Spanish client will be prompted to electronically sign the pages where the special warning appears and make a handwritten statement with the following wording:

“This product is complex and CNMV has determined that it is not convenient for me”.

If we determine that our product is unsuitable for a Spanish client the following warning shall be shown to that client:

“You are about to purchase a CFD, a product that is complex and difficult to understand. The National Securities Market Commission of Spain (Comisión Nacional del Mercado de Valores) has determined that, due to the complexity of the CFDs and the risks involved, the purchase of CFDs by retail investors is not appropriate/suitable. Capital.com has assessed your knowledge and experience and has determined that CFDs are unsuitable for you.

The CFD you are about to purchase is a leveraged product. Please be aware that the losses incurred may be greater than the amount initially invested.

 Please be aware that if you decide to close your position immediately after purchasing you will have to pay [the relevant amount and currency shall be indicated]”.

Prior to the first two (2) trades a Spanish client will be prompted to electronically sign the pages where the special warning appears and make a handwritten statement with the following wording:

“This product is complex and has been determined as unsuitable for me”.

If we determine that we do not have enough information to assess if our CFDs are appropriate/suitable for a Spanish client the following warning shall be shown to that client:

“You are about to purchase a CFD, a product that is complex and difficult to understand. The National Securities Market Commission of Spain (Comisión Nacional del Mercado de Valores) has determined that, due to the complexity of the CFDs and the risks involved, the purchase of CFDs by retail investors is not appropriate/suitable. Capital.com has assessed your knowledge and experience and has determined that is does not have enough information to determine whether the CFDs are convenient for you. 

The CFD you are about to purchase is a leveraged product. Please be aware that the losses incurred may be greater than the amount initially invested.

Please be aware that if you decide to close your position immediately after purchasing you will have to pay [the relevant amount and currency shall be indicated]”.

Prior to the first two (2) trades a Spanish client will be prompted to electronically sign the pages where the special warning appears and make a handwritten statement with the following wording:

“This is a complex product and due to the lack of information provided, it could not be determined as convenient for me”.

The special warnings for Spanish clients and their relevant handwritten statements shall form a part of the contractual documentation between the relevant Spanish client and the Company.

All or our advertising mechanisms that will be available to residents of Spain shall include the following statement:

“Difficult product to understand, CNMV has determined that it is not suitable for retail investors due to its complexity and high risks involved”.

The Spanish client will be given the opportunity to expressly declare and acknowledge that he or she is fluent in English and therefore can understand and accept all warnings he or she was provided in English as well as acknowledge that he or she understands the relevant handwritten statement made in English. If the Spanish client will not be able to make such declaration, all the relevant warnings will be provided in Spanish and the Spanish client will be asked to provide the handwritten statement in Spanish.  

Order Execution policy v3.0 20171003

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