(NON-US RESIDENTS ONLY)
PART 1. INTRODUCTION
1.1 These Terms Conditions (the Terms) are offered to you by Capital Com SV Investments Ltd (we, us, CAPITAL.COM, the Company as appropriate), a company authorised and regulated by the Cyprus Securities and Exchange Commission (hereafter CySEC or the Commission) with registered address 19 Diagorou Str. CY-1097 Nicosia. The Company has a license number
319/17 and its registered office is at 6th floor, Lophitis Business Centre II, 237, 28th October Street, Limassol, PC3035. The Company shall provide investment services (hereafter the Services) under the Terms defined throughout the Agreement. These Terms may be amended from time to time. In case of material changes the Client will receive a proper notification. The Client has read, understood and accepted all information published on the Companys official website https://capital.com/ (hereafter the Website).
1.3. These Terms set out the basis on which we will enter into Transactions with you and govern each Transaction entered into or outstanding between you and us on or after these Terms come into effect.
1.4. Our Electronic Services involve trading CFDs and carry a high level of risk and can result in you losing all of your invested capital. Our CFD trading is not suitable for everyone. An explanation of some of the risks associated with our CFD trading is set out in the Risk Disclosure Statement and you should ensure that you fully understand such risks before entering into any Transactions with us. For more information, please refer to the Part 18 below.
1.6. These Terms supersede any previous agreement between you and us on the same subject matter and takes effect when you indicate your acceptance via our Website or mobile app. These Terms shall apply to all Transactions contemplated under these Terms.
1.7. Nothing in these Terms will exclude or restrict any duty or liability owed by us to you under the Applicable Regulations and if there is any conflict between these Terms and the Applicable Laws and Regulations, the Applicable Laws and Regulations will prevail.
1.8. These are our standard Terms which we intend to rely on to govern our relationship with you. For your own benefit and protection, you should read the Terms carefully before agreeing to them. If you do not understand any point in any of the documents making up the Terms, please ask for further information at the Contact Us page on our Website. This page is also available through the Help menu on our mobile app.
1.9. There is no specific EU regulatory framework governing the trade of CFDs on virtual currencies. Trading CFDs falls outside the scope of our MiFID regulated activities. Still, the Company will apply requirements similar to those prescribed in the Law and implemented by the Company herein and its policies for trading CFDs on virtual currencies. These include, among others, similar organizational requirements (safeguarding of clients assets, the compliance function and internal audit function), similar conduct of business rules (including marketing communication, appropriateness and best execution), the same record keeping and capital adequacy requirements.
PART 2. DEFINITIONS
2.1. In these Terms:
Account means the personal trading account you hold with us and designated with a particular account number.
Account Codes means the username and password given by the Company to the Client for accessing the Companys electronic systems.
Agreement means the Terms and Conditions for the Services offered by the Company.
Applicable Laws and Regulations means:
- CySEC Legislation, Directives, Circulars or other regulations issued by CySEC and govern the operations of Cyprus Investment Firms.
- all other applicable laws, rules and regulations as in force from time to time.
Associate means an undertaking in the same group as us, a representative whom we 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.
Base Currency means either the official currency of the United States of America (the USD), or the official currency of the Eurozone (the EUR), or the official currency of the United Kingdom (the GBP), or the official currency of the Republic of Poland (the PLN) or any other currency that may designated by the Company as a Base Currency from time to time.
Business Day means a day which is not a Saturday or a Sunday or a public holiday in Cyprus and any other holiday to be announced by the Company on its website.
CIF Authorisation means the license the Company has obtained from CySEC, as this may be amended from time to time and which sets out investment and ancillary services the Company is authorised to provide.
Client Money Rules means the rules specified in paragraph 17(9) of the Law and any Directives and Circulars issued pursuant to that paragraph, as amended from time to time.
Client means a retail Client or a professional Client and/or an eligible counterparty, acting as the counterparty of the Company and having agreed to these Terms with the Company.
Company's website means the following: https://capital.com/.
Contract for Differences or CFD means the financial instrument specified in paragraph (9) of Part III of First Appendix of the Law.
CySEC means the Cyprus Securities and Exchange Commission.
CySEC Rules means the Law L.87(I)/2017, for the provision of Investment Services, the Exercise of Investment Activities, the operations of Regulated Markets and other related matters , the Directives, Circulars and all other regulations issued pursuant to this Law and all relevant guidance notes, administrative notices, newsletters and rules published by CySEC.
CAPITAL.COM Trading Desk means the trading desk operated by us at our premises.
CAPITAL.COM Online Trading Platform means the Internet-based trading platform available at our Website in a desktop version and by means of our mobile app that allows us to provide Electronic Services to you.
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.
Event of Default means any of the events of default listed in Part 14 (Events of Default).
Execution means the completion of a Client order on the CAPITAL.COM Online Trading Platform, where the Company acts as a principal to the Clients Transaction.
FATCAmeans the US Foreign Account Tax Compliance Act.
Law means the Cyprus Law which provides for the provision of investment services, the exercise of investment activities, the operation of regulated markets and other related matters L. 87(I)/2017 of 2017.
MiFID II means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (the Markets in Financial Instruments Directive (2014/65/EU), as the same may be in force from time to time and modified or amended from time to time).
Markets in Financial Instruments Regulation, MiFIR means the Regulation (EU) No 600/2014 of the European Parliament and of the Council of the 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012.
Order means the request/instruction given by the Client to the Company to Open or Close a Position in the Clients Account.
Over-the-counter or OTC means and refers to Transactions conducted otherwise than on a formal exchange (i.e. off- exchange).
Politically Exposed Person or PEP means a natural person who is or has been entrusted with prominent public functions during the last twelve (12) months, as well as immediate family members and close associates of such a person. The prominent public functions include:
- heads of state, heads of government, ministers and deputy or assistant ministers;
- members of parliaments;
- members of supreme courts, of constitutional courts or of other high-level judicial bodies whose decisions are not subject to further appeal, except in exceptional circumstances;
- members of courts of auditors or of the boards of central banks; ambassadors, chargs daffaires and high-ranking officers in the armed forces;
- members of the administrative, management or supervisory bodies of state-owned enterprises.
PRIIPs mean Regulation (EU) No 1286/2014 of the European Parliament and the Council of 26 November 2014 on Key Information Documents for packaged retail and insurance-based investment products.
Secured Obligations means the net obligation owed by you to us after the application of set-off under Part 11 (Margining Arrangements) in Clause 11.5 entitled Set-off on Default.
Spread means the difference between the purchase price ASK (rate) and the sale price BID (rate) at the same moment for the same financial instrument.
Services means the investment services which will be provided by the Company to the clients and are governed by this Agreement as these described in this Agreement.
System means all computer hardware and software, equipment, network facilities and other resources and facilities needed to enable you to use an Electronic Service.
TIN (including functional equivalent) means Taxpayer Identification Number or a functional equivalent in the absence of a TIN. A TIN is a unique combination of letters or numbers assigned by a jurisdiction to an individual or an Entity and used to identify the individual or Entity for the purposes of administering the tax laws of such jurisdiction. Further details of acceptable TINs can be found at the following link:
Some jurisdictions do not issue a TIN. However, these jurisdictions often utilize some other high integrity number with an equivalent level of identification (a functional equivalent). Examples of that type of number include, for individuals, a social security / insurance number, personal identification / service code and resident registration number
Transaction means any transaction on CFDs across a range of underlying asset classes, including, but not limited to, equity, commodities and indices, carried out subject to these Terms and for which we are authorised under our Cyprus Investment Firm (CIF) license.
Trading Venue (ToTV) means a regulated market, a multilateral trading facility (MTF) or an organised trading facility (OTF), as defined under MiFID II.
US Reportable Persons means as per FATCA:
- a US citizen (including dual citizen);
- a US resident alien for tax purposes;
- a domestic partnership;
- a domestic corporation;
- any estate other than a foreign estate;
- any trust, if:
- a court within the United States is able to exercise primary supervision over the administration of the trust;
- one or more United States persons have the authority to control all substantial decisions of the trust;
- any other person that is not a foreign person.
PART 3. GENERAL
3.1. Information about Us
3.1.1. Our registered office is at 6th floor, Lophitis Business Centre II, 237, 28th October Street, Limassol, PC3035. Our contact details are set out in Part 20 (“Miscellaneous”) under the heading “Notices”.
3.1.2. CAPITAL.COM is a market maker for CFDs. The Company owns and operates the website https://capital.com/ (the “Website”) and the CAPITAL.COM Online Trading Platform which enable the provision of the Electronic Services to our Clients.
3.1.3. The Company shall provide the Services strictly under the Terms. These terms may be amended from time to time after a proper notification has been given to the counterparty (hereafter the “Client”), by the website of the Company. The Client has read, understood and unconditionally accepted all information published on the Company’s official website.
These Terms are supplied to you in English and we will continue to communicate with you in English for the duration of these Terms. We will have the discretion to communicate with you in other languages in addition to English.
3.3. Communication with Us
3.3.1. You may communicate with us by e-mail or through the “Contact Us” section of our Website or the mobile app. Our contact details are set out in Part 20 (“Miscellaneous”) under the heading “Notices”.
3.3.2. Our Website and mobile app contain further details about us and our Electronic Services, and other information relevant to these Terms. In the event of any conflict between these Terms and our Website or mobile app these Terms will prevail.
3.3.3. By accepting and agreeing to the Terms and further opening an Account with the Company, the Client accepts the provision of information through electronic means such as the Company’s Website or your verified email (“durable medium”), due to the nature of the relationship established between the Company and the Client. Such provision of information by means of electronic communication shall be treated as appropriate by the Client. The provision of an email address by the Client to the Company for the establishment or the continuation of the business relationship shall be considered as sufficient evidence of the Clients agreement of information through durable medium. The Company will ensure to a reasonable degree that the Website will be accessible continuously.
3.4. Provision of Services:
The Company is authorized to provide the following Services under its CIF authorization:
- Reception and transmission of orders in relation to one or more financial instruments;
- Execution of orders on behalf of clients;
- Dealing on Own Account.
In addition, the Company may provide the following ancillary services in accordance with its CIF authorization:
- Safekeeping and administration of financial instruments, including custodianship and related services;
- Granting credit or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;
- Foreign exchange services where these are connected to the provision of investment services.
3.5 Client Categorisation
3.5.1. We act as a principal and not as an agent on your behalf and you enter these Terms as a principal and not as agent (or trustee) on behalf of someone else.
3.5.2. As per the provisions of MiFID II, the Company will deal with the Client according to the type of categorisation/classification on which the Client will be treated either as a Retail, Professional or Eligible Counterparty in accordance with the information provided during the account opening procedure.
3.5.3. MiFID II establishes certain criteria which the Company shall follow when carrying out the classification and communicating the outcome to clients and which it has incorporated into its Client Categorisation Policy established for this purpose.
3.5.4. The Company will notify its clients, and existing clients for their categorization as a retail Client, professional Client or an eligible counterparty. For more information please see our Client categorisation policy
3.5.5. The Company recognizes that Clients should be in general allowed to request to be placed into a different category other than retail.
3.5.6. You shall inform the Company in case that your personal information changed. In the event that you wish to be re-categorized, you must inform the Company in writing, clearly stating such a wish, as per the provisions of the Client Categorisation Policy. The final decision of the change in categorisation however lies in the absolute discretion of the Company.
3.5.7. Your protection as a retail client under the CySEC Rules and other Applicable Regulations includes, but is not limited to:
- our obligation to provide appropriate information to you before providing the Electronic Services;
- the restriction on the payment or receipt by us of any inducements;
- our obligation to ensure that all information we provide to you is fair, clear and not misleading;
- the requirement that you receive from us adequate reports on the Electronic Services provided to you;
- A retail client will be given more information/disclosures with regards to the Company, its services and any investments, its costs, commissions, fees and charges and the safeguarding of clients’ funds and financial instruments. Clients who are classified as professionals or eligible counterparties will be provided with the relevant requirements to the extent agreed between the Company and the respective clients.
- 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 Client is appropriate for the investment service or product envisaged. In case the Company considers, on the basis of the information received, that the Client is not appropriate for product or service, the Company will alert the Client accordingly;
- 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. The Order Execution Policy is provided on our Website, or by e-mail on request. Unless you notify us to the contrary, you will be deemed to consent to our Order Execution Policy when these Terms come into effect. If you do not consent, we reserve the right to refuse to provide our Electronic Services to you;
- CAPITAL.COM will inform its Clients of material difficulties relevant to the proper carrying out of their order(s) promptly upon becoming aware of such difficulties;
- CAPITAL.COM will provide Clients with full and explicit information on the execution of the relevant Client orders;
- 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 instruments held with that third party (if any) and identifiable from the financial instruments held by that third party as well;
- Clients may be entitled to compensation under the Investor Compensation Fund for Clients of Investment Firms scheme;
- 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.
3.5.7. You acknowledge and accept that you have read and accepted the “Client Categorisation Policy”, provided during the registration process and which is uploaded on the Company’s Website.
3.5.8. The Company reserves the right to revoke or change its Client Categorisation Policy at any time as this will be displayed in the Company’s Website. In such a case you will be requested to re-consent to the updated version of the Client Categorisation Policy.
3.6. Availability of the Electronic Services
3.6.1. The Electronic Services of CAPITAL.COM are only available to individuals who:
- are at least eighteen (18) years old and at least the legal age in his/her respective jurisdiction;
- are domiciled or located in a country where the distribution or use of CFDs would not be contrary to local laws or regulations. It is your responsibility to ascertain the terms of, and comply with any local laws or regulations to which you are subject;
- are not domiciled or located in the United States of America. Furthermore, the use of the CAPITAL.COM Online Trading Platform is prohibited from anywhere in the United States of America;
- have provided the company with the information required to build their economic profile;
- at the Company’s request have provided information and documentation necessary to establish the source of funds deposited with the Company; and/or
- are not employees, directors, associates, agents, affiliates, relatives, or otherwise connected to the Company or any of its Associates.
3.6.2. The use of and access to the CAPITAL.COM Online Trading Platform may not be permitted or may be blocked in some jurisdictions. It is your responsibility to verify that you are permitted to use and access the CAPITAL.COM Online Trading Platform according to the jurisdiction of your domicile or any country in which you may be located. Should you try to access the CAPITAL.COM Online Trading Platform from a country other than your country of your domicile it is possible that access will not be permitted and you will be unable to access the CAPITAL.COM Online Trading Platform and therefore open any positions or close any existing positions.
3.6.3. The CAPITAL.COM Online Trading Platform and the Company’s Electronic Services are not intended for distribution or public offer to Clients domiciled or located in Belgium (“Belgian Clients”). It is the responsibility of Belgian Clients, to ascertain the terms of, and comply with any local law or regulation to which they may be subject to as residents of Belgium.
3.6.4. We will currently not onboard a Client that would in our best opinion qualify as a Belgian Client due to the place of his/her domicile, residency, location and etc.
3.6.5. The Company may, in its sole discretion, refuse to offer its Electronic Services to any person and change its eligibility criteria at any time.
3.7. General Interpretation
3.7.1. A reference in these Terms to a “Clause” or “Schedule” or “Part” shall be construed as a reference to, respectively, a Clause or Schedule or Part of these Terms, unless the context requires otherwise.
3.7.2. References in these Terms to any statute or statutory instrument or Applicable Regulations include any modification, amendment, extension or re-enactment thereof.
3.7.3. A reference in these Terms to a “document” shall be construed to include any electronic document.
3.7.4. The masculine includes the feminine and the neuter and the singular includes the plural and vice versa as the context admits or requires.
3.7.5. Words and phrases defined in the CySEC Rules and the Applicable Regulations have the same meaning in these Terms unless expressly defined in these Terms.
3.8.1. The provisions contained in the attached Schedule(s) (if any) shall apply. We may from time to time send to you further Schedules in respect of the Transactions. In the event of any conflict between the provisions of any Schedule and these Terms, the provisions of the Schedule shall prevail.
3.8.2. You acknowledge having read, understood and agreed to the Schedules to these Terms (if any).
Headings are for ease of reference only and do not form a part of these Terms.
3.10. Assessment of Appropriateness
In order for the Company to ensure that the information regarding clients’ potential knowledge and experience in the investment fields includes the following, taking in account the extent appropriate to the nature of the Client, the nature and extent of the Services to be provided and the anticipated type of product or transaction, including their complexity and the risks involved:
- The type of service, transaction and financial instrument with which the Client is familiar;
- The nature of the Client’s transactions in financial instruments and the period over which they have been carried out;
- The level of education, and profession of the Client or potential Client.
The Company shall not encourage a Client or potential Client not to provide information required for the purposes assessing the appropriateness.
The Company shall be entitled to rely on the information provided by its Clients or potential Clients unless it is aware or ought to be aware that the information is manifestly out of date, inaccurate or incomplete.
Further to the above, the Company when assessing whether a Service is appropriate for a Client, determines whether that Client has the necessary experience and knowledge to understand the risks involved in relation to the product or investment service offered or demanded. Since the Company will expand its services to cover professional clients, the Company shall be entitled to assume that a professional Client has the necessary experience and knowledge to understand the risks involved in relation to those investment services or transactions, or types of transaction or product, for which the Client is classified as a professional Client.
3.11. Product Governance:
Under the requirements imposed by CySEC in relation to Product Governance, we have determined the Target Market for each financial instrument offered by us. As part of the account opening procedure, you acknowledge that you should provide the necessary information to enable us to determine whether you fall within the identified Target Market of end clients or not. Such information aims to evaluate whether your needs, characteristics and objectives are in line with the characteristics and risk of complex and leverage products offered by the Company.
If you provide us with incorrect or incomplete information required under Product Governance regime, you will adversely affect our ability to carry out correctly our obligation and thus, you may be allowed to enter into Transactions in Financial instruments that should not be marketed and offered to you.
3.12. Key Information Document
The Key Information Document (“KID”) is the document prepared by the Company for the packaged retail and insurance-based investment products (“PRIIPs”) manufactured and sold by the Company to retail clients. In accordance with the requirements of PRIIPs, the purpose of the KID is to provide retail clients with overview information on the Company, applicable Laws and Regulations, the services offered as well as the nature and risks involved in the trading of CFDs.
As the KID constitutes an overview of the risks involved, it is provided to you only for the purpose of helping retail clients to understand the nature, costs, risks and rewards of the relevant products and to help you compare it with other products, it should be used for information purposes. These Terms comprise the primary legal agreement between you, in case you were classified as Retail Client, and the Company for the services we provide to you as described herein. The KID for all our offered services is available on our website.
PART 4. APPLICABLE LAWS AND REGULATIONS
4.1. Subject to the Applicable Laws & Regulations
4.1.1. These Terms and all Transactions are subject to the Applicable Laws and Regulations so that:
a. nothing in these Terms shall exclude or restrict any obligation which we have to you under the Applicable Laws and Regulations;
b. we may take or omit to take any action we consider necessary to ensure compliance with any Applicable Laws and Regulations;
c. all Applicable Laws and Regulations and whatever we do or fail to do in order to comply with them will be binding on you; and
d. such actions that we take or fail to take for the purpose of compliance with any Applicable Laws and Regulations shall not render us or any of our directors, officers, employees or agents liable.
4.2. Action by a Regulatory Body
4.2.1. If CySEC, or any other regulatory body takes any action which affects a Transaction, then we may take any responsive action which we, in our reasonable discretion, consider desirable to respond to such action or to mitigate any loss incurred as a result of such regulatory action. Any such action shall be reasonable and binding on you.
4.2.2. If CySEC, or any other supervisory authority makes an enquiry in respect of any of your Transactions, you agree to co-operate with us and to promptly supply information requested in connection with the enquiry.
4.3. Obligations regarding Financial Account Holder’s tax residency
4.3.1. Under Common Reporting Standard (“CRS”) Regulation, we are obliged to collect certain information about the Financial Account Holder for the purposes of reporting. We have the right to provide such information to the local tax authorities and they may exchange this information with tax authorities of other jurisdiction(s) pursuant to intergovernmental agreements regarding the exchange of financial information.
4.3.2. If the Financial Account Holder’s tax residence is located outside the country, where the Financial Institution (FI) maintaining the account is located, the Company may be legally obliged to pass on financial information provided with respect to your account to the local tax authorities and they may exchange this information with tax authorities of another jurisdiction/s pursuant to intergovernmental agreements to exchange financial account information.
4.4.1. In case where the Client is considered as a US reportable person as defined under this Agreement then we are obliged to collect certain information for the purposes of ensuring compliance with FATCA reporting requirements. The Client acknowledges and accepts that the Company is required to disclose information in relation to any US reportable persons to the relevant authorities, as per the reporting requirements of FATCA. The Company does not accept US reportable persons.
4.4.2. We are required by the Applicable Laws and Regulations (including without limitation, FATCA) to confirm and to verify the identity of each Client who registers in our system and opens an Account with us. Therefore, you will be prompted to provide us with information when you register with us, including: (1) your name, (2) your address, (3) your date of birth, (4) your phone number and any other personally identifiable information that we may ask for from time to time such as a copy of your passport and/or Identity Card a proof of addresses or other identifying documents or information, and the countries of which you are a tax resident, and confirm whether you are a US citizen or your place of birth is in the United States of America or any other proof of your current location or domicile. You shall notify CAPITAL.COM in writing within 30 days of any material change in the information previously provided to us.
PART 5. PAYMENTS COST, CHARGES, DEPOSITS AND INDUCEMENTS
Spreads, fees and other charges are payable by you as a Client of the Company. A copy of our current charges is published in the KID and the mobile app. Any alteration to charges will be notified to you in advance of the relevant change.
The Company reserves the right to modify, from time to time the size, the amounts and the percentage rates of its fees providing the Client with a respective notification of such charges accordingly.
Further information in respect to costs and charges are provided in an aggregated form on the Company’s website (expressed in both as a cash amount and as a percentage). The Company provides you with an itemized breakdown of costs and charges in your personal account on our platform.
The Company will quote to clients two prices, the “ASK” at which clients can buy a respective CFD, and the “BID” at which clients can sell a respective CFD. The difference between the ASK and the BID prices is called the “SPREAD”. The SPREAD is the only trading cost that the user has to pay for the trading part of the Electronic Services. No other charges or commissions are paid by the clients to enter or exit a trade. The Company’s spreads are quoted on both the mobile and web platforms and on the website.
The spreads are dynamic due to the uncertain nature of the markets and are set at the absolute discretion of the Company. Different instruments have different spreads. The spread may factor in:
- Liquidity of the product’s underlying market
- General market and economic conditions
- The Company’s risk appetite
- The Company’s costs and profit margin
- The greater competitive landscape
The Company is using a proprietary model to create its pricing. A unique internally developed pricing algorithm sources prices from many price liquidity providers, assuring that the Company provides to its clients the best price it can.
5.3. No Commissions or Fees for Depositing or Withdrawal
No fees are charged by the Company for deposits to or withdrawals from the Account.
5.4. Minimum Deposits
5.4.1. The minimum amount of money that can be deposited to your Account with the Company at a time (the “Minimum Deposit”) shall constitute not less than 100 EUR, 100 USD, 100 GBP or 400 PLN respectively depending on the account base currency.
5.4.2. For deposits processed via bank transfers, the Company shall only accept deposits that are equal to €250 (or the equivalent in the Base Currency of the Client's Account) (the “Minimum Bank Transfer Deposit") or deposits that greater than the Minimum Bank Transfer Deposit. In case the Client deposits an amount less than the Minimum Bank Transfer Deposit the Company has the discretion to decline such deposit and process its return, with all relevant bank charges deducted from the amount returned.
5.5. Prepaid Cards
5.5.1. Anonymous prepaid cards involve a higher risk for money laundering and terrorist financing activities. As such, the Company has established procedures in order to mitigate such risk arising from the use of anonymous prepaid cards. In particular, the Company shall not accept deposits originating from anonymous prepaid cards issued outside the European Union. In this respect, when such a deposit method is identified by the Company, the deposited funds are immediately returned to the Client.
5.6. Conversion into the Base Currency
Investing in financial instruments with an underlying asset(s) in a currency other than your base currency entails a currency risk as the financial instrument is settled in a currency other than your base currency and hence the value of your return may be affected by its conversion into the base currency.
For the purposes of any calculation (unless expressly stated otherwise), we convert amounts denominated in any other currency into the Base Currency at the prevailing rate at the time of the calculation as shown on our platform.
However, the Company reserves the right to add a markup on the conversion rates in relation to the prevailing market conditions.
5.7. Additional Costs
You should be aware of the possibility that other taxes or costs may exist that are not paid through or imposed by us. It is your sole responsibility to bear these additional costs.
5.8. Ex-post disclosure
The Company will provide the Clients with an itemized breakdown of costs and charges in your personal account on our platform.
5.9. No Third-Party Payments
You can deposit only your money to your Account. It means that it should be easily traceable that the deposited funds come from you. In case of a doubt we reserve the right to ask for a documentary confirmation of the ownership of the incoming funds.
No third-party payments will be accepted. If third party deposit is identified or if in case of a doubt you are unable to provide the documentary prove of funds ownership – the deposited amount deducted by the amount of transaction fees will be returned to the same account from which it was received.
In case the card was fraudulently used the legal owner of the card shall apply to the Company for reimbursement of the full fraudulently transferred amount including transaction fees.
The Company will not process any Account withdrawals made to third parties. Withdrawals will be made to the same account from which the incoming funds were received. If it is not possible you are obliged to provide us with the documentary prove of ownership of the account to which you are requesting withdrawal.
5.10. Overnight Premiums
If you hold a position open overnight, an overnight premium is subtracted from your Account. The size of overnight premium is specified for each instrument on our Website and on the mobile app.
5.11. Inactivity Fee
Inactive Accounts (as defined in chapter 8.17 of these terms and conditions) will be subject to a monthly charge of 10 USD (or the equivalent of the same in one of the Base Currencies) after 1 year of inactivity, relating to the maintenance/administration of such Inactive Accounts.
Under inducements rules, the Company will not pay or accept from any party (other you) any fee or commission in connection with the provision of an investment service or an ancillary service unless these payments and/or benefits meet the requirements of the following paragraph. Similarly, we will not provide to or receive from any party (other than you) any non-monetary benefit in connection with the provision of investment service or an ancillary service.
In accordance with the above paragraph, the payments and/or benefits shall:
- Be designed to enhance the quality of the service provided to the Client; and
- Not impair compliance with the Company’s duty to act honestly, fairly and professionally in accordance with the Client’s best interest.
The only inducements paid by the Company to third parties relate to the third parties introducing Clients to the Company. The terms of payment are disclosed on the website of the Company: https://affiliates.capital.com/.
5.13. Guaranteed Stop Loss Order Fee (GSL Fee)
There is a fee charged when the Guaranteed Stop Loss Order is triggered and executed. The fee is charged in the form of an extra spread and is expressed in percentage. The percentage is displayed in the deal ticket when placing the Guaranteed Stop Loss Order on the CAPITAL.COM Online Trading Platform. The GSL Fee is calculated by the following formula:
The amount of fee charged is displayed in the trade history once the GSL is triggered and executed.
Adjustments will be made to the Client’s Accounts due to dividend payments related to the underlying equity. Such adjustment will be calculated by the Company basing on the size of the dividend, the size of Client’s position, taxation and whether it is a buy or a sell trade. If the Client holds a long Position, the Company will adjust such Client’s Account in Client’s favor by the dividend multiplied by the long quantity as adjusted, if necessary, for taxation. If the Client holds a short Position, the Company will adjust such Client’s Account in Company’s favor by the dividend multiplied by the short quantity as adjusted, if necessary, for taxation.
A dividend adjustment is applied when an underlying share passes its ex-dividend date (including the ex-date of any special dividend) in the underlying stock market.
However, as the Company is dependent upon notification from an external third party under no circumstances the Company shall be kept liable for the consequences of any delayed adjustments.
PART 6. EXECUTION OF CLIENTS’ TRANSACTIONS
6.1. Execution Only-No provision of Investment Advice
We deal on an execution only basis and do not advise on the merits of particular Transactions, or their taxation consequences.
6.2. Own Judgement and Suitability
Without prejudice to our foregoing obligations, in asking us to enter into any Transaction, you represent that you have been solely responsible for making your own independent appraisal and investigations into the risks of the Transaction. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any Transaction and that you have read and have accepted the Risk Disclosure Statement. We give you no warranty as to the suitability of the products traded under these Terms and assume no fiduciary duty in our relations with you.
6.3. Incidental Information
Where we do provide generic trading recommendations, market commentary or other information:
a. this is incidental to your dealing relationship with us. It is provided solely to enable you to make your own investment decisions and does not amount to advice;
b. where information is in the form of a document containing a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons;
c. we give no representation, warranty or guarantee as to the accuracy or completeness of such information or as to the tax consequences of any Transaction;
d. you accept that prior to dispatch, we may have acted upon it ourselves or made use of the information on which it is based. We do not make representations as to the time of receipt by you and cannot guarantee that you will receive such information at the same time as other Clients. Any published research reports or recommendations may appear in one or more screen information service.
6.4. Conflicts of Interest Policy
6.4.1. Under Applicable Laws and Regulations, the Company is required to have arrangements in place to manage conflicts of interest between the Company and its clients and between other clients. The Company will make all reasonable efforts to avoid conflicts of interest when they cannot be avoided the Company shall ensure that you are treated fairly and at the highest level of integrity and that their interests are protected at all times.
6.4.2. You acknowledge that we provide our Services to a broad range of Clients and have numerous counterparties and circumstances may arise in which we, our Associates, or any relevant person may have a material interest in a Transaction with or for you or where a conflict of interest may arise between your interests and those of other clients or counterparties or of ourselves.
6.4.3. Please refer to our Conflicts of Interest Policy for further information on how we manage any conflict that may arise. Upon request, we will provide you with any further details in that regard.
PART 7. AML AND CLIENT ACCOUNT OPENING PROCEDURES
7.1. Account Opening
7.1.1. Before you can place an order with the Company, you must read and accept these Terms, the trading policies as outlined in Part 8 below, and all applicable Schedules (if any). You must also deposit sufficient funds in your Account and your Client registration form and all accompanying documents must be approved and verified by the Company.
7.1.2. The Company has established a Customer’s Acceptance Policy in order to perform accurate and complete risk assessment when accepting clients.
7.2.1. When accepting a new Client, the Company is required to have satisfactory evidence of a clients’ identity, economy profile and financial background, in order to provide an effective service. The Company requires all clients to enter into an agreement with the Company by completing the account opening documentation which is tailored to extracting this information.
126.96.36.199 For Natural Persons not residing in the Republic of Cyprus:
- Proof of identity: Certified true Copies of Passports, and if available, official national identity cards issued by competent authorities of their country of origin are obtained;
- Proof of Address: A utility bill, house deed, or bank statement not older than 6 months, stating the Client’s name and residential address. In cases where he clients are operating within countries where the addresses are identified only by reference to a P.O Box, a declaration letter signed by an independent government representative or professional officer (such as post office, lawyer, accounts and notary public) confirming the Client’s address is accepted.
188.8.131.52. Legal Person’s Accounts:
A different identification procedure is followed for legal persons interested in opening an account with the Company. A separate contract will be agreed upon between the Company and the legal person.
The documentation that needs to be obtained by the respective clients is in accordance with the provisions of the the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007-2018 (hereafter the “AML Law”) and the Directive DI144-2007-08 (hereafter the “AML Directive”), as amended from time to time.
7.2.2. The documents required for the verification of your identity to approve the registration of your Account, may be provided to the Company within 15 (fifteen) calendar days from the date of the first deposit made to the relevant Account. During this period the Client will be able to trade.
7.1.3. Upon the provision of all requested documentation, and prior to the expiration of the 15 (fifteen) calendar days mentioned in Clause 7.1.2 above, the Company will assess and verify the provided documentation and, if everything is in line with the Company’s procedures, an approval of your registration as a Client will be sent to you by e-mail to the address you have provided during the registration of the Account.
7.1.4. In case, the documents requested during your registration are not provided within the 15 (fifteen) days period, the Company shall proceed with the suspension of your Account and any other Electronic Services related to your Account will also be terminated. In case of a suspension, the Company will terminate the business relationship with you on the expiration of the last day of 15 (fifteen) calendar days period and all available funds will be returned to the same bank account from which they were initially transferred to the suspended Account. All open positions on the to-be-suspended Account will be closed automatically on the expiration of the last day of 15 (fifteen) calendar days period. If the expiration date falls on a non-trading day/hours the positions will be closed at the first upcoming opening of the markets in the CAPITAL.COM Online Trading Platform.
7.1.5. Upon the approval of your registration, you will be notified by e-mail to the address you have provided during the registration of the Account.
7.2. The Company, may, in its sole discretion, at any time during the business relationship with the Company, and on reasonable grounds, request that in addition to online acceptance of these Terms, Client must complete and submit any signed documents so required by the Company, including but not limited to these Terms and the Risk Disclosure Statement.
PART 8. TRADING POLICIES AND PROCEDURES/ORDERS
8.1. Placing Orders
You may give us instructions in electronic form through the Website or the mobile app. In these Terms “instructions” and “orders” have the same meaning.
8.2. Types of Orders Accepted
8.2.1. An order is an offer to open or close a transaction if our price moves to, or beyond, a level specified by you. Our approach is to place orders solely as a principal and not as an agent on your behalf; we are the sole counterparty to your trades and the sole execution venue for your orders. The CAPITAL.COM Online Trading Platform supports the following types of orders:
a. A Market Order is an instruction to buy or sell a CFD immediately in a specified size at the best available market price for that size. When you place a Market Order with us you acknowledge that such Market Order allows us to execute your order at a price that is different than our quoted bid/offer price at the time you place it. This order type does not allow any control over the price it will be filled at. Market Orders can be placed only during the trading hours of the underlying asset. Where there is insufficient liquidity available for the specified size your Market Order will be partially filled while the remaining quantity will be cancelled by the system. A Market Order can have taken Profit/ Stop Loss Orders attached.
b. A Limit Order is an instruction to buy a CFD at no more than a specific price, or to sell it at no less than a specific price (called ‘or better’ for either direction). This gives you a control over the price at which the Limit Order is executed, however this Limit Order may never be executed (or filled). A Limit Order can be used to either open or close a position. When there is insufficient liquidity available for the specified price your Limit Order will be partially filled with the remaining quantity actively pending until it is fully filled or cancelled. Once a Limit Order is triggered it will be executed at a level that is the same or better than the level specified by you. Limit Orders can have taken Profit and Stop Loss orders attached.
c. A Working order is a general term for a Limit Order to open.
d. A Take Profit is an order that can be attached to working orders, market orders or open positions, to close a position at a price that is better than the current price. This order type is primarily used to lock in profits from a position. If the market has moved to the opposite direction of a position, it is possible to set up a Take Profit at a price that is better than the current price but worse than the opening price. Thus, it is possible to limit losses with a Take Profit order. Where a Take Profit Order is attached to a working order it will be a contingent order that would become active once all or part of your opening order has been executed giving rise to a position being opened on your Account. The Take Profit Orders will be filled at the predefined price. If a Take Profit Order is partially executed because there is insufficient liquidity at the price you specified, the remaining part of your order will be active until your price level is reached again and more liquidity is available. A Take Profit Order will remain active until it is executed or removed, or the open position is closed.
e. A Stop Loss is an order that can be attached to working orders, market orders or open positions, to close a position at a price that is worse than the current price. This order type is primarily used to limit the potential losses you can incur from an open position. If the market has moved to the direction of a position, it is possible to set up a Stop Loss at a price that is worse than the current but better than the opening price. Thus, it is possible to lock profits with a Stop Loss order. If the Stop Loss level is reached, the Stop Loss Order is executed as a Market Order at the best price available for the quantity you wish to buy or sell. A Stop Loss Order will remain active until it is executed, or removed, or the open position is closed. If a Stop Loss Order is partially executed because there is insufficient liquidity, the remaining part of your order will be active until your price level is reached again and more liquidity is available.
We do not guarantee that a Stop Loss Order will be filled at the price specified.
f. A Guaranteed Stop Loss Order is an order that can be attached to working orders, market orders or open positions, to close a position at an exact price determined by you that is worse than the current price. This order type is used to limit the losses you can incur from an open position. If the market has moved to the direction of a position, it is possible to set up a Guaranteed Stop Loss at a price that is worse than the current but better than the opening price. Thus, it is possible to lock profits with Guaranteed Stop Loss order. When accepting your Guaranteed Stop Loss Order we guarantee that when our bid or offer quote goes beyond the price specified by you, we will close your position at exactly the price specified. An open position can be closed at your initiative before reaching the Guaranteed Stop Loss Order level. As we guarantee your close out price, there is a fee charged when the Guaranteed Stop Loss Order is triggered and executed (see cl. 5.12 Guaranteed Stop Loss Order Fee (GSL Fee).
8.2.2. Limit Orders and Stop Loss Orders for equity CFDs are executed based on the preceding ex-dividend prices and if not fully executed before the occurrence of the forthcoming Corporate Event, entitling the Client to a dividend for the equity CFD position(s) he/she currently holds, the Client’s relevant CFD position(s) will be closed by the Company prior to that Corporate Event at the then prevailing market price. Similarly, the Company will ask the Client to close any affected pending Limit Orders and Stop Loss Orders before the forthcoming Corporate Event or will do so on its own, if the Client fails to act accordingly.
8.2.3. Limit Orders and Stop Loss Orders applied to equity CFDs based on cum-dividend prices will be valid for the ex-dividend price (and vice versa) unless specifically cancelled by the client.
8.2.4. We may introduce new types of orders from time to time by posting a relevant alert and updating the current information on our platform.
8.3. Terms of Acceptance for Orders
8.3.1. It is your sole responsibility to clearly indicate the terms of an order when entered, whether it is a Market Order, Limit Order, Take Profit, Stop Loss or any other type of order, including the relevant price and lot size.
8.3.2. You acknowledge and agree that, despite our best efforts, the price at which execution occurs may be materially different to the price specified in your order. This may result from sudden price movements in the underlying assets that are beyond our control.
8.3.3. The Company shall have no liability for failure to execute orders.
8.3.4. The Company shall have the right, but not the obligation, to reject any order in whole or in part prior to execution, or to cancel any order, where your Account contains margin that is insufficient to support the entire order or where such order is illegal or otherwise improper.
8.4. Execution Policy
8.4.1. If there are no specific instructions from the Client on how to execute the order, we will consider several execution factors to ensure that we manage the order on terms most favourable to our Client. These execution factors include:
c. likelihood of execution and settlement;
e. size and nature of the order;
f. any other considerations relevant to the execution of the order.
8.4.2. It is emphasized that the specific instructions as mentioned above prevent the Company from taking the steps that it has designed and implemented in order to ensure the best possible result for the execution of those Orders in respect to the elements covered by those instructions.
We do not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as an indication of their priority.
8.4.3. The best possible result for our Clients will be determined in terms of the total consideration, represented primarily by the price of the financial instrument and the costs related to the execution. The costs related to the executions include the expenses incurred by the Client which are directly related to the execution of his/her order.
8.4.4. The other execution factors of speed, likelihood of execution, size, nature or any other relevant consideration will, in most cases, be secondary to the price and costs considerations, unless they would deliver the best possible result for the Client in terms of total consideration.
8.5. Cancellation/Withdrawal of Instructions
8.5.1. Non-market orders may be cancelled via the CAPITAL.COM Online Trading Platform but we can only cancel your instructions if you explicitly request so, provided that we have not acted up to the time of your request upon those instructions.
8.5.2. Executed instructions may only be withdrawn or amended by you with our consent.
8.5.3. The Company shall have no liability for any claims, losses, damages, costs or expenses, including legal fees, arising directly or indirectly out of the failure of such order to be cancelled.
8.6. Right not to Accept Orders
We may, but shall not be obliged to, accept instructions to enter into a Transaction. If we decline to enter into a proposed Transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.
8.7. Control of Orders Prior to Execution
8.7.1. We have the right (but not the obligation) to set limits and/or parameters to control your ability to place orders at our absolute discretion. Such limits and/or parameters may be amended, increased, decreased, removed or added to by us at our absolute discretion and may include (without limitation):
a. controls over maximum or minimum order amounts and maximum or minimum order sizes;
b. controls over our total exposure to you;
c. controls over prices at which orders may be submitted (to include, without limitation, controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the order book);
d. controls over the Electronic Services (to include, without limitation, any verification procedures to ensure that any particular order or orders has come from you); and/or
e. any other limits, parameters or controls which we may be required to implement in accordance with Applicable Regulations.
8.8. Trade Adjustments
8.8.1. Clients must be aware that CFD transactions carry a high degree of risk. The amount of initial margin may be small relative to the value of the instrument so that transactions are ‘leveraged’ or ‘geared’. A relatively small market movement may have a proportionately larger impact on the funds that the Client has deposited or will have to deposit. This may work against as well as for the Client.
8.8.2. The Company exclusively reserves the right to widen its variable spreads, adjust leverage and/or increase the margin requirements without notice under certain market conditions including, but not limited to, when the CAPITAL. COM Trading desk is closed, around fundamental announcements, as a result of changes in credit markets and/or at times of extreme market volatility.
8.9. Execution of Orders
We shall use our reasonable endeavours to execute any order promptly, but in accepting your orders we do not represent or warrant that it will be possible to execute such order or that execution will be possible according to your instructions. If we encounter any material difficulty relevant to the proper carrying out of an order on your behalf we shall notify you promptly.
Despite the above, we havedesigned appropriate policies and procedures in order to ensure compliance with the obligation to execute orderson terms most favourable to our clients and to achieve the best possible result for them, taking into consideration each client’s ability, needs and trading policies, producing a result which provides, in our view, the best balance across a range of sometimes conflicting factors. For more information please refer to the Order Execution Policy.In respect of Retail Clients, the best possible result is determined in terms of the total consideration. The Company shall apply best execution rules in cases where you have not provided the Company with specific instructions.
We take all the appropriate measures in to manage any possible conflict of Interest that may arise in accordance with the provisions of our Conflict of Interest Policy.
In accordance with MiFID II requirements, the Company has the obligation regarding the annual publication of information on the identity of execution venues and on the quality of execution as per the requirements of the Commission Delegated Regulation (EU) 2017/576 (hereafter the “RTS28”).
8.10. Reporting Transactions and Account Statements
8.10.1. Trade Confirmations
Confirmations for all Transactions that we have executed on your behalf on that trading day will be available on the mobile app, which are updated online as each Transaction is executed.
Confirmation of execution and statements of your Account(s), in the absence of manifest error, shall be deemed correct, conclusive and binding upon you if not objected to within three days by e-mail if orders were placed through the Company’s Online Trading Platform.
In cases where the prevailing market represents prices different from the prices posted online by the Company on the Website and the mobile app, the Company will attempt, on a best efforts basis and in good faith, to execute Market Orders on or close to the prevailing market prices. This may or may not adversely affect Client’s realized and unrealized gains and losses.
8.10.4. The Client might request to receive the Account statement monthly or quarterly via email, by providing such a request to the Client Support Department (firstname.lastname@example.org).
8.10.2. EMIR Reporting
In accordance with the European Market Infrastructure Regulation (EMIR). You are classified as a “NFC” (a Non-Financial Counterparty to whom the EMIR clearing obligation does not apply) https://www.esma.europa.eu/regulation/post-trading/non-financialcounterparties-nfcs.
Under EMIR requirement, we are required to report transactions to a Trade Repository and subsequently to ESMA. In this respect, you are irrevocably authorise to report all of your reportable transactions to the aforementioned parties. You should also provide us with any additional information and/or supporting documentation may be requested from time to time, required under EMIR or any other applicable Laws and Regulations, in order to comply with our reporting obligation. In case of refusal or failure to provide us with the required information and/or supporting documentation, we have the absolute right to refuse you to trade with us and to suspend your Account or terminate this Agreement in accordance with the provisions in clause 17.
8.10.3. Transaction Reporting
In accordance with the Markets in Financial Instruments Regulation (MiFIR), Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, we are obliged to report transactions on financial instruments that are admitted for trading on a Trading Venue or for which a request for admission to trading has been made, financial instruments where the underlying is an index or a basket composed of financial instruments ToTV.
In this respect, we are irrevocably authorised to report all of your reportable transactions to CySEC. For the purposes of facilitating Transaction Reporting, you should provide us, among others, with the following supporting documentation, in an acceptable by us format:
- Natural Person: Depending on the country of your residence, you should provide us with such supporting documentation as required by the Annex II of the Delegated Regulation (EU) 2017/590 regarding national Client identifiers for natural persons to be used in transactions reports, including but not limited to the passport under or identity number or concatenation (CONCAT) number.
- Legal persons: You should provide us with the Legal Entity Identifier (“LEI”), the 20-digit, alphanumeric code that enables clear and unique identification of legal entities participating in financial transactions. It is emphasized that we will not be in a position to provide a service triggering the obligation for us to submit a transaction report for a transaction entered into on your behalf, prior obtaining the LEI from your side. Failure to renew your LEI on an annual basis will result to the termination of this Agreement in accordance with the provisions of clause 17.
You should also provide us with any additional information and/or supporting documentation may be requested from time to time, required under MiFIR or any other applicable Laws and Regulations, in order to comply with our reporting obligation.
In case of refusal or failure to provide us with the required information and/or supporting documentation, we have the absolute right to refuse you to trade with us and to suspend your Account or terminate this Agreement in accordance with the provisions of clause 9.12 of these Terms.
8.11. Improper or Abusive Trading
8.11.1. The Company’s objective is to provide the most efficient trading liquidity available in the form of streaming, tradable prices for most of the financial instruments we offer on the CAPITAL.COM Online Trading Platform. As a result of the highly automated nature of the delivery of these streaming, tradable prices, you acknowledge and accept that price misquotations are likely to occur from time to time.
8.11.2. Should you execute transactions falling within the definition of Market Abuse or execute trading strategies with the objective of exploiting such misquotation(s) or act in bad faith, the Company shall consider this as unacceptable behaviour.
8.11.3. Should the Company determine, at its sole discretion and in good faith, that you are taking advantage, benefitting, attempting to take advantage or to benefit of such misquotation(s) or that you are committing any other improper or abusive trading act such as for example:
a. fraud/illegal actions that led to the transaction;
b. orders placed based on manipulated prices as a result of system errors or system malfunctions;
c. arbitrage trading on prices offered by our platforms as a result of systems errors; and/or
d. coordinated transactions by related parties in order to take advantage of systems errors and delays on systems updates; and/or
e. orders placed with the use of inside information (i.e. abusive exploitation of privileged confidential information, the misuse of information or directors trading shares of their own companies);
then the Company will have the right to:
i. adjust the price spreads available to you; and/or
ii. restrict your access to streaming, instantly tradable quotes, including providing manual quotation only; and/or
iii. obtain from your Account any historic trading profits that you have gained through such abuse of liquidity as determined by us at any time during our trading relationship; and/or
iv. reject an order or to cancel a trade; and/or
v. immediately terminate our trading relationship.
8.12. Prohibited Trading
8.12.1. No employee and/or former employee who currently works or used to work on a full time or part time basis for the Company or any of its related entities shall, during the term of the employee’s and/or former employee’s service to the Company or any of its related entities and after termination of service become a Client of any brand of the Company (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without the Company’s prior written approval.
8.12.2. Should the Company consider that the employee and/or former employee is trading with any brand of the Company without the Company’s prior written approval personally and/or via a third party we shall consider all the trading to be abusive and/or improper trading. In such circumstances, the employee and/or former employee’s Account(s) and all open positions shall be closed immediately and any funds held within the Account shall be returned.
8.12.3. No business associate or former business associate of the Company or any of its related entities shall, during the period of the agreement between the associate/former business associate and the Company and after termination of such agreement, become a Client of any brand of the Company (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without the Company’s prior written approval.
8.12.4. Should the Company consider that the associate/former business associate is trading with any brand of the Company without the Company’s prior written approval personally and/or via a third party we shall consider all the trading to be abusive and/or improper trading. In such circumstances, the relevant associate/former business associate’s Account(s) and all open positions shall be closed immediately and any funds held within the Account shall be confiscated.
8.13. Disabling and Cancelling Deposits
8.13.1. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances:
a. if you fail to provide the Company with any documents it requests from you either for Client identification purposes or for any other reason;
b. if the Company suspects or has concerns that the submitted documents may be false or fake;
c. if the Company suspects you are involved in illegal or fraudulent activity;
d. if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen;
e. where the Company considers that there is a chargeback risk; and/or
f. when you deposit ten thousand (10 000) USD or more (or an equivalent of the same in one of our Base Currencies) or if you make over ten (10) separate deposits to your Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used.
8.13.2. In case of cancelled deposits, and if there is not a confiscation of your funds by a supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned only to the bank account that they have been initially received from.
8.14. Performance and Settlement of Transactions
You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us.
The Company shall proceed to a settlement of all transactions upon execution of such transactions.
Following execution of the order, we will send you an electronic confirmation in respect of that Transaction as soon as reasonably practicable, and in any event within the time required by the relevant laws and regulations.
You consent to receive all Account information, Trade Confirmations and Account Statements through the internet, which is considered as durable medium.
If you no longer wish to receive such information through electronic means, you must notify us and revoke this consent in writing. However, if you revoke your consent, your access to our Trading Platform may be restricted or terminated, at our sole discretion.
8.15. Position Limits
We may require you to limit the number of open positions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such position limits are maintained.
Without prejudice and subject to these Terms and all Applicable Laws and Regulations funds may be withdrawn by you from your Account once your withdrawal request is processed and approved, provided that such funds are not being utilized for margin purposes or have otherwise become owing to us, there is a remaining positive balance on your Account and the Account is approved following the verification of the Client as per the applicable Anti-Money Laundering Laws and Regulations governing the Company.
We will process your request to withdraw funds on the same day that the request was received, or the next working day if your request is received outside of our normal business hours.
Your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution owned by you. No Account withdrawals to third parties will be processed by the Company.
If you request a withdrawal of funds from your Account and we cannot comply with it without closing some part of your open positions, we will not comply with the request until sufficient positions are closed, and we have established that you have a positive balance on your Account to make the withdrawal.
8.17. Inactive Account and Dormant Accounts
8.17.1. The Client acknowledges and confirms that any Account(s) holding funds, held by him/her with the Company where the Client has neither opened nor closed positions and doesn’t have an active open position for a period of 1 (one) year and more, shall be classified by the Company as an Inactive Account (“Inactive Account”).
8.17.2. Any Account that is not an Inactive Account shall be classified by the Company as an active Account ("Active Account").
8.17.3. The Client further acknowledges and confirms that such Inactive Accounts will be subject to a monthly charge of 10 USD (or the equivalent of the same in the Base Currency of such Inactive Account), relating to the maintenance/administration of such Inactive Accounts.
8.18. Negative Balance Protection
CFDs are leveraged products and therefore incur a high level of risk and may result in the loss of all the Client’s Invested Capital. For the benefit of the Company’s Clients, the Company has implemented a “no negative balance” protection program, on an account basis, whereby the Client cannot lose more than his/her investment. Nonetheless, the Client is expected to actively monitor and manage open positions in the account and to contact the Company about options if the account is close to a Margin Call.
It is possible for adverse market movements to result in the loss of more than your Account balance, so that it becomes negative. In this case, we will bear the negative consequences of such adverse events and any of your losses will be limited to your Account balance.
8.19. Corporate Events
8.19.1. The Client has no rights or obligations in respect of the underlying instruments or assets relating to his/her CFD. Specifically, in case of an equity CFD you will not receive any voting rights. However, the underlying instrument can be affected by various Corporate Events. A “Corporate Event” is any action or event, whether temporary or otherwise, in relation to an underlying asset(s) of the CFD, or in relation to the issuer of an underlying asset(s) of the CFD, which would have an effect on the value, legal characteristics or ability to trade the underlying asset(s) or the CFD based on or referencing such underlying asset(s), including: distributions or the grant of entitlements to existing holders of rights in the underlying asset(s), dividend payments, the granting of rights to purchase, subscribe or receive any underlying asset(s) (whether for free, on preferential payment terms or otherwise) or cash, placings, rights issues, bonus/scrip issues, capitalization issues and similar issues, mergers or takeovers relating to the issuer of the underlying asset(s), sub-divisions, splits, reductions (including share buy-backs),consolidations, reclassifications, restructurings, cancellation or suspension of listing of the underlying asset(s) or the issuer of the underlying asset(s), and any action or event analogous to any of the foregoing or otherwise that may have a diluting or concentrative effect on the value of the underlying asset(s) of the CFD.
8.19.2. In case a Corporate Event will occur while the Client is holding an open CFD position or has a pending order affected by such event, we will notify the Client in advance of such Corporate Event and ask him/her to close the relevant position(s) and cancel the affected pending orders before that Corporate Event occurs. If the Client fails to do so, we will close any Client CFD position(s) to be affected by the forthcoming Corporate Event at the then prevailing market prices and suspend any affected orders of the Client before that Corporate Event takes place.
8.20 Expiring CFDs
Certain CFDs shall have an expiry date. On the expiry date an open position on the expiring CFD will be closed automatically at the then prevailing market price, any affected order(s) will be cancelled. Nothing precludes the Client from closing the relevant position and cancelling the affected pending orders prior to the expiry date.
The expiry date for the relevant CFD shall be published on the relevant section of the Company’s website and on the mobile app. Should the expiry date change, the Client will be notified accordingly.
PART 9. ELECTRONIC TRADING TERMS
9.1. Access and Trading Hours
9.1.1. Once you have gone through the security procedures associated with an Electronic Service provided by us, you will get access to such Electronic Service, unless agreed otherwise or stated on our Website or mobile app.
9.1.2. All references to the Company’s hours of trading on our website are in Coordinated Universal Time (UTC) are using a 24-hour format.
9.1.3. Our Electronic Services will normally be available 24/7 with reasonable breaks for technical maintenance as specifically mentioned for each underlying asset on our Website and in the mobile app, every week, excluding public holidays, periods where the markets for the underlying assets of the CFDs do not operate and cases where the markets are closed due to illiquidity in the financial instruments.
9.1.4. You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the CFD in respect of which you wish to open or close the Transaction.
9.1.5. Outside those hours, we will be under no obligation to, but may, at our absolute discretion, provide a quote and accept and act on your offer to open or close a Transaction.
9.1.6. Please consult our Website or mobile app for more details on operating times for each CFD. We reserve the right to suspend or modify the operating hours on our own discretion and in such event our Website and mobile app will be updated without delay in order to inform you accordingly. In this respect the operating hours, as indicated on the Website and the mobile app are the applicable ones.
9.1.7. We may change our security procedures at any time and we will inform you of any new procedures that apply to you as soon as possible through our Website or mobile app.
9.2. Restrictions on Electronic Services Provided
9.2.1. There may be restrictions on the number of Transactions that you can enter into on any one day and also in terms of the total value of those Transactions when using an Electronic Service. Please refer to our Website and mobile app for details of the limits imposed upon Transactions carried out through our Electronic Services.
9.3. Access Requirements
You will be responsible for having hardware equipment forming part of the System to enable you to use an Electronic Service.
9.4. Virus Detection
You will be responsible for the installation and proper use of any virus detection/scanning program that shall reasonably keep your systems virus-free.
9.5. Use of Information, Data and Software
In the event that you receive any data, information or software via an Electronic Service other than that which you are entitled to receive pursuant to these Terms, you will immediately notify us and will not use, in any way whatsoever, such data, information or software.
9.6. Maintaining Standards
When using an Electronic Service, you must:
a. ensure that the System is maintained in good order and is suitable for use with such Electronic Service;
b. run such tests and provide such information to us as we shall reasonably consider necessary to establish that the System satisfies the requirements notified by us to you from time to time;
c. carry out virus checks on a regular basis;
d. inform us immediately of any unauthorised access to an Electronic Service or any unauthorised Transaction or instruction which you know of or suspect of and, if within your control, cause such unauthorised use to cease; and
e. not at any time leave the terminal from which you have accessed such Electronic Service or let anyone else use the terminal until you have logged off such Electronic Service.
9.7. System Defects
In the event you become aware of a material defect, malfunction or virus in the System or on the CAPITAL.COM Online Trading Platform, you will immediately notify us of such defect, malfunction or virus and cease all use of such Electronic Service until you have received permission from us to resume use.
9.8. Intellectual Property
9.8.1. All rights in patents, copyrights, design rights, trade marks and any other intellectual property rights (whether registered or unregistered) relating to the Electronic Services remain vested in us or our licensors.
9.8.2. You will not copy, interfere with, tamper with, alter, amend or modify the software comprising the System of the Electronic Services or any part or parts thereof unless expressly permitted by us in writing, reverse compile or disassemble the software comprising the System of the Electronic Services, nor purport to do any of the same or permit any of the same to be done, except in so far as such acts are expressly permitted by law.
9.8.3. Any copies of the software comprising the System of the Electronic Services made in accordance with law are subject to these Terms. You shall ensure that all the licensors trademark, copyright and restricted rights notices are reproduced on these copies. You shall maintain an up-to-date written record of the number of copies of the software comprising the System of the Electronic Services made by you. If we so request, you shall as soon as reasonably practical, provide to us a statement of the number and whereabouts of copies of the software comprising the System of the Electronic Services.
Without prejudice to any other of provisions of these Terms, relating to the limitation of liability, the following clauses shall apply to our Electronic Services.
9.9.1. System Errors
184.108.40.206. We shall have no liability to you for damage which you may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions or other deficiencies on the part of internet service providers.
220.127.116.11. You acknowledge that access to Electronic Services may be limited or unavailable due to such system errors, and that we reserve the right upon notice to suspend access to Electronic Services for this reason.
18.104.22.168. Neither we nor any third-party software provider accepts any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to you in connection with an Electronic Service.
22.214.171.124. We do not accept any liability in respect of any delays, inaccuracies or errors in prices quoted to you if these delays, inaccuracies or errors are caused by third party service providers with which we may collaborate.
126.96.36.199. We shall not be obliged to execute any instruction which has been identified that is based on errors caused by delays of the system to update prices provided by the system price feeder or the third-party service providers.
188.8.131.52. We do not accept any liability towards executed trades that have been based and have been the result of delays as described above.
9.9.3. Viruses from Electronic Services
We shall have no liability to you (whether in contract or in tort, including negligence) in the event that any viruses, worms, software bombs or similar items are introduced into the System via an Electronic Service or any software provided by us to you in order to enable you to use the Electronic Service, provided that we have taken reasonable steps to prevent any such introduction.
9.9.4. Viruses from your System
You will ensure that no computer viruses, worms, software bombs or similar items are introduced into our computer system or network and will indemnify us on demand for any loss that we suffer arising as a result of any such introduction.
9.9.5. Unauthorised Use
We shall not be liable for any loss, liability or cost whatsoever arising from any unauthorised use of the Electronic Service. You shall on demand indemnify, protect and hold us harmless from and against all losses, liabilities, judgements, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using an Electronic Service by using your designated passwords, whether or not you authorised such use.
We shall not be liable for any act taken by or on the instruction of an exchange or regulatory body.
9.11. Suspension or Permanent Withdrawal with Notice
We may suspend or permanently withdraw an Electronic Service, by giving you 24 hours written notice.
9.12. Immediate Suspension or Permanent Withdrawal Without Notice
9.12.1. We have the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use any Electronic Service, or any part thereof, without notice, where we consider it necessary or advisable to do so, for example due to your non-compliance with the Applicable Regulations, breach of any provisions of this Agreement, on the occurrence of an Event of Default, Event of Force Majeure, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of security.
9.12.2. In addition, the use of an Electronic Service may be terminated automatically, upon:
a. the termination, renunciation, revocation, withdrawal or suspension of any license granted to us which relates to the Electronic Service; and/or
b. the termination of these Terms.
9.13 Effects of Termination
In the event of a termination of the use of an Electronic Service for any reason, upon request by us, you shall, at our option, return to us or destroy all software and documentation we have provided you in connection with such Electronic Service and any copies thereof.
PART 10. CLIENT MONEY
10.1. Client Money
We treat all funds received from you or held by us on your behalf (“Client Money”) in accordance with the requirements of the Client Money Rules.
The following steps have been taken by the Company in order to ensure the protection of Clients’ financial instruments or funds:
- Segregation: As per the provisions of this Agreement funds belonging to the Client that will be used for trading purposes will be kept in accounts with credit institution(s) used to accept only Client’s funds and as such will be held segregated from the Company’s own funds.
- Investor Compensation Fund: The Company being a member of the Investors Compensation Fund (hereinafter “the Fund”) provides the Client, if is being categorized as retail Client, with the security of receiving a compensation from the Fund, for any claims arising from the malfunction on behalf of the Company or if the Company fails to fulfil its obligations regardless of whether that obligation arise from a breach of applicable law or regulations, the Agreement or from any wrongdoing by the Company. Further details in regard to the Fund and the conditions which apply are available under Section 20.8 of this Agreement.
- Due diligence measures: The Company has the obligation to exercise all due skill, care and diligence in selection, appointment and periodic review of the credit institution(s) where Clients’ funds are placed. The Company’s due diligence measures have been designed in such a manner so as to ensure that expertise and market reputation of such institutions are taken into consideration.
You, the Client, acknowledge and confirm that no interest will be received on the balance of your Account.
10.3. Overseas Banks
10.3.1. We will endeavour to hold Client Money on your behalf within Cyprus and the European Union. The funds will be kept in bank accounts denominated as Client funds and clearly segregated from the Company’s own funds.
10.3.2. Client Money deposited may be kept in one or more omnibus accounts with any authorised credit institution used to accept funds which the Company will specify from time to time and will be held in the Company’s name.
10.3.3. We will not be liable for the insolvency, acts or omissions of any third party referred to in this Part.
10.4. Due Care, Skill and Diligence
10.4.1. With regards to the deposit of Clients Money, in the event we do not deposit Client Money with a central bank, we exercise all due care, skill and diligence in the selection, appointment and periodic review of the credit institutions and banks where the funds are placed and the arrangement for the holding of those funds.
10.4.2. It shall be noted that we take into account the expertise and reputation of the third party as well as the legal requirements or market practices related to the holding of those financial instruments that could adversely affect our Clients’ rights.
10.5. Payment Service Providers
10.5.1. The Company may keep merchant accounts in its name with payment services providers (hereinafter “PSP”) used to settle payment transactions of its Clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client Money but only to effect settlements of their payment transactions.
10.5.2. Your Client Money is being processed through accounts maintained in the following PSPs: “ECOMMPAY LIMITED”, an authorized payment institution regulated by the UK Financial Conduct Authority; “SafeCharge Limited” an electronic money institution authorized and regulated by the Central Bank of Cyprus,“WorldPay(UK) Limited”, “WorldPay Limited” and “WorldPay AP Limited”, authorised payment institutions regulated by the UK Financial Conduct Authority.
10.5.3. To enable direct transfer of funds from your bank account the Company has also contracted with “SOFORT GmbH”, a Germany based payment solutions provider certified by TÜV Saarland regarding federal German data protection laws.
10.5.4. Whilst we remain responsible for the handling of Client Money, in certain circumstances certain payment methods may not be available to the Company. In such circumstances CAPITAL.COM may operationally handle customer payments using alternative methods, always in accordance with the relevant safeguarding and anti-money laundering requirements provided by the Applicable Regulations.
10.5.5. We will not be liable for the insolvency, acts or omissions of any PSP used to process your payment.
10.6. Diversification of Risks
We shall ensure, where deemed necessary, the diversification of the Clients’ financial instruments and funds, for example the maintenance of accounts with several third parties.
10.7. Omnibus Account Risk
10.7.1. The Company may hold client funds in omnibus accounts within third party financial and credit institutions. In this respect, the Client is warned that there is a risk of loss emanating from the use of omnibus accounts in financial or credit institutions. In such case it may not be possible to distinguish if the particular Client funds are held by a certain financial or credit institution. Omnibus accounts may also hold other types of risks including legal, liquidation risk, haircut risk, third party risk and etc.
10.7.2. In the event of insolvency or any other analogous proceedings in relation to a financial or credit institution where client funds are held, the Company (on behalf of the Client) and/or the Client may only have an unsecured claim against the financial or credit institution, and the Client will be exposed to the risk that the money received by the Company from the financial or credit institution, is insufficient to satisfy the claims of the Client with claims in respect of the Account. The Company does not accept any liability or responsibility for any resulting losses so in the unlikely event of default the proportionate loss shall affect all of the Company's Clients’ monies held in omnibus accounts with the financial or credit institution. To mitigate this risk the client funds are being held in few reputable financial or credit institutions and constant exposure monitoring is taking place.
10.8. Unclaimed Client Money
You agree that we may cease to treat your money as Client Money if there has been no movement on your balance for six (6) consecutive years. We shall write to you at your last known address informing you of our intention of no longer treating your balance as Client Money and giving you twenty-eight (28) Business Days to make a claim.
10.9. Liability and Indemnity
10.9.1. You agree that we shall not be liable for any default of any counterparty, bank, or other third party in which we hold client funds.
PART 11. MARGINING ARRANGEMENTS
11.1. Contingent Liability
11.1.1. When we effect a Transaction, you should note that, depending upon the nature of the Transaction, you may be liable to make further payments when the Transaction fails to be completed or upon the earlier settlement or closing out of your position.
11.1.2. The Client shall provide and maintain Margin in accordance with the terms of this Agreement to secure Client’s obligations to the Company. The Company must maintain at all times the minimum margin requirements for the Open Positions in Client’s Account.
11.1.3. You may be required to make further variable payments by way of margin against the purchase price of the CFD, instead of paying (or receiving) the whole purchase (or sale) price immediately.
11.1.4. The movement in the market price of the CFD will affect the amount of margin payment you will be required to make.
11.1.5. We will constantly monitor your margin requirements and we will inform you as soon as it is reasonably practicable of the amount of any margin payment required under this Part.
11.2. Margin Call
You agree to pay us on demand such sums by way of margin as are required from time to time as we may in our discretion reasonably require for the purpose of protecting ourselves against loss or risk of loss on present, future or contemplated Transactions under these Terms.
11.3. Failure to Meet Margin Call
In the event that you fail to meet a margin call, we may immediately close out any of the relevant positions, as well as any pending orders that may negatively affect your margin balance once executed.
11.4. Form of Margin
Margin must be paid in cash in a Base Currency of your Account. A cash Margin paid to us is held as Client Money in accordance with the requirements of the Client Money Rules. Margin deposits shall be made by wire transfer, credit card or by such other means as the Company may direct.
11.5. Set-off on Default
If there is an Event of Default or these Terms are terminated, we shall set-off the balance of the cash margin owed by us to you against your obligations (as reasonably valued by us). The net amount, if any, payable between us following such set-off, shall take into account the Liquidation Amount payable under Part 15 (“Netting”).
11.6. Further Assurance
You agree to execute such further documents and to take such further steps as we may reasonably require to perfect our security interest over and obtain legal title to the Secured Obligations.
11.7. Negative Pledge
You undertake neither to create nor to have outstanding any security interest whatsoever over, nor to agree to assign or transfer, any of the cash margin transferred to us.
11.8. General Lien
In addition, and without prejudice to any rights to which we may be entitled under these Terms or any Applicable Laws and Regulations, we shall have a general lien on all cash held by us or our Associates or our nominees on your behalf until the satisfaction of the Secured Obligation
PART 12. LEVERAGE ARRANGEMENTS
Trading on CFDs is a form of Leveraged Trading and is highly speculative, complex and involves a significant risk of loss and is not suitable for all investors. CFDs are among the riskiest types of investments and can result in large losses.
The default leverage limit for retail clients currently advised by CySEC and implemented by the Company is 1:50. Depending on the appropriateness level of the Client relating to our trading services, the leverage limit can be increased by Client to either 1:100 or 1:200. The leverage limit for retail Client that decide to trade CFDs on virtual currencies is 1:5.
The European Securities and Markets Authority (ESMA) has formally adopted new measures on the provision of contracts for differences (CFDs)
ESMA has adopted these measures in the official languages of the EU and they will remain in force for a period of three months from the date of application.
The measures have been published in the Official Journal of the European Union. They will start to apply from 1 August 2018 for CFDs and will consist of (amongst other measures) a restriction of: leverage limits on opening positions.
Leverage limits on the opening of a position by a retail Client from 30:1 to 2:1, which vary according to the volatility of the underlying:
• 30:1 for major currency pairs;
• 20:1 for non-major currency pairs, gold and major indices;
• 10:1 for commodities other than gold and non-major equity indices;
• 5:1 for individual equities and other reference values;
• 2:1 for cryptocurrencies;
If ESMA decides not to prolong the measures the Company will implement the leverage levels as before the implementation of the measures.
12.2. Special Categories:
If under the legal and regulatory requirements of certain foreign jurisdictions that are relevant for the Company’s activities the maximum leverage for affected clients is capped at a level lower than made available, the Company will offer the affected clients the maximum leverage prescribed by the laws and regulation of that foreign jurisdiction (i.e. apply the maximum leverage that is lower than the one made available but limit such application only to the affected clients).
Please note that if a resident of Spain decides to trade with leverage greater than 1:10 a set of additional rules and procedures will become applicable. Such set of additional rules and procedures can be found in section 19.15 of the Company’s Terms & Conditions.
Please also note that due to regulations applicable residents of Poland may only receive leverage up to 1:100.
PART 13. REPRESENTATIONS, WARRANTIES AND COVENANTS
13.1. Representations & Warranties
13.1.1. You represent and warrant to us on the date these Terms come into effect and as of the date of each Transaction that:
a. you are at least eighteen (18) years old and of legal age in your respective jurisdiction to form a binding contract, such as these Terms, as well as open a Transaction and perform your obligations thereunder;
b. any information which you provide or have provided to us in respect of your financial position, domicile, location or other matters in your application form and at any time thereafter is true and accurate in all respects;
c. you have obtained all governmental or other authorisations and consents required in connection with these Terms and in connection with opening or closing Transactions and such authorisations and consents are in full force and effect and all of their conditions have been and will be complied with;
d. the execution, delivery and performance of these Terms and each Transaction will not violate any law, ordinance, or any other rule applicable to you in the jurisdiction in which you are domiciled or located in or are a resident of, or any agreement by which you are bound or by which any of your assets are affected;
e. you will not send funds to your Account(s) from, or request that funds be sent from your Account(s) to a third party;
f. if you are an employee or a contractor of a financial services firm or any other firm that has controls over the financial transactions in which its employees and contractors deal, you will give us proper notice of this and of any restrictions that apply to your dealing;
g. you will not to use our bid and offer prices for any purpose other than for your own trading purposes, and you agree not to redistribute our bid and offer prices to any other person whether such redistribution be for commercial or other purposes;
h. you will use the Electronic Services offered by us pursuant to these Terms in good faith and, to this end, you will not use any electronic device, software, algorithm, or any trading strategy (‘Device’) that aims to manipulate or take unfair advantage of the way in which we construct, provide or convey our bid or offer prices. You agree that using a Device whereby in your dealings with us you are not subject to any downside market risk will be evidence that you are taking unfair advantage of us;
i. no Event of Default or any event which may become (with the passage of time, the giving of notice, the making of any determination or any combination of the above) an Event of Default (“Potential Event of Default”) has occurred and is continuing with respect to you;
j. you act as principal and sole beneficial owner (but not as trustee) in entering into these Terms and each Transaction and in case you wish to open, either in the present time or in the future, more than one Account with the Company it is required to immediately disclose to us that you are the beneficial owner of the existing Account(s) during the account opening procedure and to provide us with the necessary information and/or documentation;
k. you confirm that you are the lawful owner the debit or credit card used during registration for the Account with the Company, or the lawful owner of any other payment method used to open an Account with us;
l. you are willing and financially able to sustain a total loss of funds resulting from Transactions and trading in such Transactions is a suitable investment for you;
m. except as otherwise agreed by us, you are the sole beneficial owner of all margin you transfer under these Terms, free and clear of any security interest whatsoever; and
n. for the clients outside EEA for which the Company has passporting authorisation: you have become a Client of CAPITAL.COM on your own decision; you were not directly targeted and not directly offered to become a Client of CAPITAL.COM neither by CAPITAL.COM itself nor by any of its’ employees, Associates or affiliates.
13.1.2. Any breach by you of a representation or warranty given under these Terms renders any Transaction voidable from the outset or capable of being closed by us at our then prevailing prices, at our discretion.
13.2.1. You covenant to us that:
a. you will promptly notify us of the occurrence of any Event of Default or Potential Event of Default with respect to yourself;
b. you will use all reasonable steps to comply with all Applicable Regulations in relation to these Terms and any Transaction, so far as they are applicable to you or us;
c. you will not send orders or otherwise take any action that could create a false impression of the demand or value for a financial instrument. Nor will you send orders which we have reason to believe are in breach of Applicable Regulations or by taking advantage of your Account(s) that could be considered as system abusive orders, including but not limited to one’s intention to benefit from delays in the prices, to trade at off-market prices and to abuse the system for trading at manipulated prices; and
d. upon demand, you will provide us with such information as we may reasonably require to evidence the matters referred to in this Clause or to comply with any Applicable Regulations.
e. you will undertake to advice the Company within 30 days of any change in circumstances which affects provided information or causes the information contained herein to become incorrect or incomplete, and to provide the Company with suitably updated information within 60 days of such a change.
f. all statements made by you and any information provided by you, are correct and complete.
PART 14. EVENTS OF DEFAULT
14.1. The following shall constitute Events of Default on the occurrence of which the Company shall be authorised to exercise its rights in accordance with the below:
- you fail to make any payment when due under these Terms or to observe or perform any other provision of these Terms after notice of non-performance has been given by us to you;
- you fail to perform any obligation due to us;
- you fail to perform any of the provisions of these Terms;
- where any Transaction or combination of Transactions or any realized or unrealized losses on any Transactions or combination of Transactions opened by you results in your exceeding any credit or other limit placed on your dealings;
- your death or your incapacity;
- the initiation by a third party of proceedings for your bankruptcy (if applicable) or if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you;
- where any representation or warranty made by you in these Terms is or becomes untrue;
- you fail or omit to disclose to us your capacity as the beneficial owner of more than one Account you may maintain with us;
- you take advantage of delays occurred in the prices and you place orders at outdated prices, you trade at off-market prices, you manipulate the system to trade at prices not quoted to you by us and you perform any other action that constitutes improper trading;
- any event of default (however described) occurs in relation to you under any other agreement between us; and/or
- any other circumstance where we reasonably believe that it is necessary or desirable to take any to protect ourselves or all or any of our other Clients.
PART 15. NETTING
15.1. Rights on Default
On the occurrence of an Event of Default, we may exercise our rights under this Part, except that in the case of the occurrence of an Event of Default specified in Clause 14.1 (f) (a “Bankruptcy Default”), the automatic termination provision of this Clause shall apply.
15.2. Liquidation Date
Subject to the following Clause 15.3, at any time following the occurrence of an Event of Default, we may, by notice to you, specify a date (the “Liquidation Date”) for the termination and liquidation of Transactions in accordance with this Part.
15.3. Automatic Termination
The date of the occurrence of any Bankruptcy Default shall automatically constitute a Liquidation Date, without the need for any notice by us and the provisions of the following Clause 15.4 shall then apply.
15.4. Calculation of the Liquidation Amount
15.4.1. Upon the occurrence of the Liquidation Date:
- neither of us shall be obliged to make any further payments or deliveries under any Transactions which would, but for this Part, have fallen due for performance on or after the Liquidation Date and such obligations shall be satisfied by settlement (whether by payment, set-off or otherwise) of Liquidation Amount (as defined below);
- we shall (on, or as soon as reasonably practicable after, the Liquidation Date) determine (discounting if appropriate), in respect of each Transaction a total cost, loss or, as the case may be, gain, in each case expressed in the Base Currency of your Accounts (and, if appropriate, including any loss of bargain, cost of funding or, without duplication, cost, loss or, as the case may be, gain as a result of the termination, liquidation, obtaining, performing or re-establishing of any hedge or related trading position) as a result of the termination, pursuant to these Terms, of each payment or delivery which would otherwise have been required to be made under such Transaction (assuming satisfaction of each applicable condition precedent and having due regard, if appropriate, to such market quotations published on, or official settlement prices set by the relevant exchange as may be available on, or immediately preceding, the date of calculation); and
- we shall treat each cost or loss to us, determined as above, as a positive amount and each gain by us, so determined, as a negative amount and aggregate all of such amounts to produce a single, net positive or negative amount, denominated in the Base Currency of your Account (the “Liquidation Amount).
If the Liquidation Amount determined pursuant to this Part is a positive amount, you shall pay it to us and if it is a negative amount, we shall pay it to you. We shall notify you of the Liquidation Amount, and by whom it is payable, immediately after the calculation of such amount.
15.6. Other Transactions
Where termination and liquidation occurs in accordance with this Part, we shall also be entitled, at our discretion, to terminate and liquidate, in accordance with the provisions of this Part, any other transactions entered into between us which are then outstanding.
The Liquidation Amount shall be paid in the Base Currency of your Account by the close of business on the Business Day following the completion of the termination and liquidation under this Part (converted as required by applicable law into any other currency, any costs of such conversion to be borne by you, and (if applicable) deducted from any payment to you). Any Liquidation Amount not paid on the due date shall be treated as an unpaid amount and bear interest, at the average rate at which overnight deposits in the Base Currency of such payment are offered by major banks in the London interbank market as of 11.00 am (London time) (or, if no such rate is available, at such reasonable rate as we may select) plus one (1%) per annum for each day for which such amount remains unpaid.
Unless a Liquidation Date has occurred or has been effectively set, we shall not be obliged to make any payment or delivery scheduled to be made by us under a Transaction for as long as an Event of Default or any event which may become (with the passage of time, the giving of notice, the making of any determination hereunder, or any combination thereof) an Event of Default with respect to you has occurred and is continuing.
15.9. Additional Rights
Our rights under this Part shall be in addition to, and not in limitation or exclusion of, any other rights which we may have (whether by agreement, operation of law or otherwise).
15.10. Application of Netting to the Transactions
This Part applies to each Transaction entered into or outstanding between us on or after the date these Terms takes effect.
15.11. Single Agreement
These Terms, the particular terms applicable to each Transaction entered into under these Terms, and all amendments to any of them shall together constitute a single agreement between us. We both acknowledge that all Transactions entered into on or after the date these Terms take effect, are entered into in reliance upon the fact that these Terms and all such provisions constitute a single agreement between us
PART 16. RIGHTS ON DEFAULT
On an Event of Default or at any time after we have determined, in our absolute discretion, that you have not performed (or we reasonably believe that you will not be able or willing in the future to perform) any of your obligations to us, in addition to any rights under Part 15 (“Netting”) we shall be entitled, without prior notice to you:
- instead of returning to your investments equivalent to those credited to your account, to pay to you the fair market value of such investments at the time we exercise such right;
- to sell such of your investments as are in our possession or in the possession of any nominee or third party appointed under or pursuant to these Terms, in each case as we may in our absolute discretion select or and upon such terms as we may in our absolute discretion think fit (without being responsible for any loss or diminution in price) in order to realise funds sufficient to cover any amount due by you hereunder;
- to close out, replace or reverse any Transaction, buy, sell, borrow or lend or enter into any other Transaction or take, or refrain from taking, such other action at such time or times and in such manner, as at our sole discretion, we consider necessary or appropriate to cover, reduce or eliminate our loss or liability under or in respect of any of your contracts, positions or commitments; and/or
- to cancel and/or considervoid any Transactions and profits or losses either realised or unrealised and/or to close out the account(s) you maintain with us pursuant to these Terms, immediately and without prior notice.
PART 17. TERMINATION WITHOUT DEFAULT & CANCELLATION
17.1. Termination & Cancellation
17.1.1. Rights of the Clients to request the termination/cancellation of their business relationship with the Company:
You have a right to cancel these Terms for a period of fourteen (14) days commencing on the date on which you have accepted these Terms (the “Cancellation Period”).The Company may terminate the Agreement by giving to you a 7 days written notice, specifying the date of termination therein.
17.1.2. Should you wish to cancel these Terms within the Cancellation Period, you should send notice in writing to the contact details are set out in Part 20 (“Miscellaneous”) under the heading “Notices” or electronically through the “Contact Us” section of our Website or the mobile app. Cancelling these Terms within the Cancellation Period will not cancel any Transaction entered into by you during the Cancellation Period. If you fail to cancel these Terms within the Cancellation Period you will be bound by its terms but you may terminate these Terms in accordance with Clause 17.1.3 (“Termination Without Default”).
17.1.3. Unless required by Applicable Regulations, a party may terminate these Terms (and the relationship between us) for its own convenience in the absence of an Event of Default on that party’s side by giving in prior ten (10) days written notice of termination to the other part.
17.1.4. Upon terminating these Terms:
a. all amounts payable by you to us will become immediately due and payable including (but without limitation):
i. all outstanding fees, charges and commissions;
ii. any dealing expenses incurred by terminating these Terms; and
iii. any losses and expenses realised in closing out any Transactions or settling or concluding outstanding obligations incurred by us on your behalf.
b. The Company shall apply best execution rules in cases where you have not provided the Company with specific instructions regarding the closing of your positions.
c. The Company shall return any Client funds remaining in your Account to your bank account, specifically to the account from which the funds were debited. Your funds may be returned to another bank account to which you are the beneficiary in exceptional circumstances and as long as you provide us with the required documents to verify, that the account belongs to you.
17.2. Existing rights
Termination shall not affect then outstanding rights and obligations and Transactions which shall continue to be governed by these Terms and the Parts agreed between us in relation to such Transactions until all obligations have been fully performed.
17.3 The Company may terminate the Agreement immediately without giving any notice see terms mentioned in chapter 9.12
17.4. The termination of the Agreement shall not in any case affect the rights which have arisen existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, the Client shall pay:
- Any pending fee of the Company and any other amount payable to the Company;
- Any charge and additional expenses incurred or to be incurred by the Company as result of the termination of the Agreement;
- Any damages which arose during the arrangement or settlement of pending obligations.
PART 18. EXCLUSIONS, LIMITATIONS AND INDEMNITY
18.1. General Exclusion
18.1.1. Neither we nor our directors, officers, employees or agents shall be liable for any losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under these Terms (including any Transaction or where we have declined to enter into a proposed Transaction) unless such loss is a reasonably foreseeable consequence or arises directly from our or their respective gross negligence, wilful default or fraud.
18.1.2. In no circumstance, shall we have liability for losses suffered by you or any third party for any special or consequential damage, loss of profits, loss of goodwill or loss of business opportunity arising under or in connection with these Terms, whether arising out of negligence, breach of contract, misrepresentation or otherwise.
18.1.3. Nothing in these Terms will limit our liability for death or personal injury resulting from our negligence.
18.2. Tax Implications
Without limitation, we do not accept liability for any adverse tax implications of any Transaction whatsoever.
18.3. Changes in the Market
18.3.1. Market Orders are executed at the bid/ask prices offered through us. Pending orders are executed at the then market price requested by you and offered through us. We reserve the right, at our full discretion, not to execute the order, or to change the quoted price of the Transaction in case of technical failure of the CAPITAL.COM Online Trading Platform or in case of extraordinary or abnormal fluctuations of the price of the financial instrument as offered in the market.
18.3.2. Without limitation, we do not accept any liability by reason of any delay or change in market conditions before any particular Transaction is affected.
18.4. Events of Force Majeure, Limitation of Liability & Manifest Error
18.4.1. We shall not be liable to you for any partial or non-performance of our obligations hereunder by reason of any cause beyond our reasonable control, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or the failure by the relevant exchange, other regulatory or self-regulatory organisation, vendor or service provider of ours for any reason, to perform its obligations (“Events of Force Majeure”).
18.4.2. Nothing in these Terms will exclude or restrict any duty or liability we may have to you under Applicable Regulations, which may not be excluded or restricted thereunder.
18.4.3. Manifest Error
184.108.40.206. We reserve the right to unilaterally either void from the outset or amend retroactively the conditions of any Transaction that contained or was based on any error that we reasonably believe to be obvious or palpable (a ‘Manifest Error’).
220.127.116.11. If, in our discretion, we choose to amend the conditions of any Transaction with a Manifest Error, the amendments will reflect the conditions that we reasonably believe would have been fair at the time the Transaction was entered into.
18.104.22.168. In deciding whether an error is a Manifest Error we shall act reasonably and we may take into account any relevant market practice and/or any relevant information including, without limitation, the state of the relevant underlying market(s) at the time of the alleged Manifest Error, or any connected error in, or lack of clarity of any information source or pronouncement upon which we base our quoted prices or form other trading conditions.
22.214.171.124. Any financial commitment that you have entered into or refrained from entering into in reliance on a Transaction with us that was voided from the outset or amended retroactively as provided for in this Clause will not be taken into account in deciding whether or not there has been a Manifest Error
126.96.36.199. In the absence of fraud, wilful misconduct or gross negligence on our part, we will not be liable to you for any losses, costs, claims, demands or expenses of any sort following or related (either directly or remotely) to a Manifest Error (including, where the Manifest Error is caused by any information source, commentator or official on whom we reasonably rely).
188.8.131.52. If a Manifest Error has occurred and we choose to exercise our right to void from the outset the affected the Transaction and you have already received any monies from us in connection to the affected Transaction, you agree that those monies become immediately due and payable to us and you shall be liable to return the initial amount received to us immediately.
184.108.40.206. If a Manifest Error has occurred and we choose to exercise our right to amend retroactively the conditions of the affected the Transaction and you have already received any monies from us in connection to the Transaction with the Manifest Error, you agree that those monies become immediately due and payable to us and you shall be liable to return the initial amount received to us immediately. If based on the results of the retroactive application of the fair conditions as provided for in Clauses 220.127.116.11 – 18.104.22.168 above, the Company shall owe you any monies, such monies shall be transferred to your Account in a timely manner. Similarly, if as a result of the retroactive application of such fair conditions, you shall owe the Company any monies, such money should be transferred by you to the Company in a timely manner.
22.214.171.124. The Company shall notify you regarding the Manifest Error and the way the Company shall proceed to rectify it within 5 (five) Business Days after it has established the existence of such Manifest Error.
126.96.36.199. In case of a Manifest Error, the Company may take any appropriate measures necessary to rectify the consequences of such Manifest Error, which may include, among other things, the suspension, freezing or immediate closing of any of the Client’s positions.
18.5. Responsibility for Orders
You will be responsible for all orders entered on your behalf via an Electronic Service and you will be fully liable to us for the settlement of any Transaction arising from it.
18.6. No Other Representations
You acknowledge that you have not relied on or been induced to enter into these Terms by a representation other than those expressly set out in these Terms. We will not be liable to you (in equity, contract or tort) for a representation that is not set out in these Terms and that is not fraudulent.
You shall pay to us such sums as we may from time to time require in or towards satisfaction of any deficiency on the balance of your Account(s) with us and, on a full indemnity basis, any losses, liabilities, costs or expenses (including legal fees), taxes, imposts and levies which we may incur or be subjected to with respect to any of your Account(s) or any Transaction or as a result of any misrepresentation by you or any violation by you of your obligations under these Terms (including any Transaction) or by the enforcement of our rights.
PART 19. DESCRIPTION AND ACKNOWLEDGMENT OF RISKS
The Company shall provide you in good time before the provision of investment services or ancillary services with a general description of the nature and risks of financial instruments, taking into account, in particular, the Client’s categorisation as either a retail Client, professional Client or eligible counterparty. That description shall explain the nature of the specific type of instrument concerned, the functioning and performance of the financial instrument in different market conditions, including both positive and negative conditions, as well as the risks particular to that specific type of instrument in sufficient detail to enable the Client to take investment decisions on an informed basis.
The description of risk referred above will include, where relevant to the specific type of instrument concerned and the status and level of knowledge of the Client, the following elements:
- The risks associated with that type of financial instrument including an explanation of leverage and its effects and the risk of losing the entire investment including the risks associated with insolvency of the issuer or related events, such as bail in;
- The volatility of the price of such instruments and any limitations on the available market for such instruments;
- Information on impediments or restrictions for disinvestment, for example as may be the case for illiquid financial instruments or financial instruments with a fixed investment term, including an illustration of the possible exit methods and consequences of any exit, possible constraints and the estimated timeframe for the sale of the financial instrument before recovering the initial cost of the transaction in that type of financial instruments;
- The fact that an investor might assume, as a result of transactions in such instruments, financial commitments and other additional obligations, including contingent liabilities, additional to the cost of acquiring the instruments;
- Any margin requirements or similar obligations, applicable to instruments of that type.
For more information please refer to the Company’s KID and Risk Disclosure Statement.
PART 20. MISCELLANEOUS
20.1.1. Shall the Company introduce any material amendments to the present Terms, you will be notified accordingly by means of the app and/or by e-mail of such material amendments. You will be given 48 hours from the moment the notice has been dispatched (“48 Hours”) by the Company to decide on whether you would want to proceed under the new Terms. Upon the expiration of these 48 Hours you shall be deemed to have provided consent to the application of the new Terms.
20.1.2. If you disagree with the application of the new Terms you must get in touch with the Company by utilizing the e-mail stated in Clause 20.2 (“Notices”) below prior to the expiration of the 48 Hours, clearly state that you no longer wish to be a Client of the Company and discontinue your use of the Services.
20.1.3. If you send us such notice of disagreement mentioned in Clause 20.1.2 above you will not be allowed to open any new positions from the moment we receive such notice and you will be prompted to close any of your outstanding positions prior to the expiration of the 48 Hours. If you fail to do so, we will have the discretion to automatically close all of your positions upon the expiration of the 48 Hours. We will process the termination of your Account and any relevant issues as provided for herein and the Applicable Regulations.
20.2.1. Unless otherwise agreed, all notices, instructions and other communications to be given by us under these Terms shall be given to the contact details provided by you to us. Likewise, all notices, instructions and other communications to be given by you under these Terms shall be given to us in writing at the address below:
Name: Capital Com SV Investments Ltd
Address: Lophitis Business Centre II, 237, 28th October Street, Limassol, PC3035, Cyprus
Email Address: email@example.com
You shall notify us of any change of your information for the receipt of notices, instructions and other communications immediately.
20.3. RECORD KEEPING
20.3.1. Following the provisions of MiFID II, the Company keeps records regarding all services, activities and transactions it undertakes. The Client acknowledges that as per the Article 16(7) of MiFID II the Company will keep records of internal telephone conversations and electronic communications that are intended to result in transactions or relate to the reception and transmission of orders and execution of orders on behalf of clients.
20.3.2. Further, the Company will also keep records to be kept of all services and activities provided and transactions undertaken by the Company as well as records related to its business and internal organization which shall be sufficient to enable the Commission to exercise its supervisory functions and to take steps to ensure the Company’s compliance with its obligations under the Law
20.3.3. The Company shall keep records of the content and timing of instructions received from you. A record of the allocation decisions taken for each operation shall be kept providing for a complete audit trail between the movements registered in clients’ accounts and in the instructions received by the investment firm. In particular, the final allocation made to each investment Client shall be clearly justified and recorded. The complete audit trail of the material steps in the underwriting and placing process shall be made available to competent authorities upon request.
20.3.4. You have the right to request and receive records of telephone and electronic communications that related to reception, transmission and execution of clients’ orders. Such records will be kept by the Company for a period of seven (7) years. Without limiting the foregoing, the Company is required to comply based on the Intergovernmental Agreement between Cyprus and United States and has taken all reasonable steps to be considered in compliance with FATCA. The Client acknowledges and accepts that the Company is required to disclose information in relation to any US reportable persons to the relevant authorities, as per the reporting requirements of FATCA. The Client may contact the Company for additional information and/or clarifications prior to the signing of this Agreement.
20.4. Electronic Communications
20.4.1. Subject to the Applicable Laws and Regulations, any communication between us using electronic signatures and any communications via our Website and/or the mobile app shall be binding as if they were in writing. Orders or instructions given to you via e-mail or other electronic means will constitute evidence of the orders or instructions given.
20.4.2. The Company will also keep records of orders placed by clients through channels other than the Companies’ electronic platform, provided that such communications are made in a durable medium (e.g. mails, fax, emails, chats, internet communications, etc.). In case of relevant face-to-face conversations with the Client, the content of such will be recorded by using written minutes or notes.
20.4.3. The Company shall establish, implement and maintain an effecting recording of telephone conversations and electronic communications policy, set out in writing, and appropriate to size and organisation of the Company, and the nature, scale and complexity of its business. The policy shall include the following content:
- the identification of the telephone conversations and electronic communications, that are subject to the recording requirements in accordance with Article 16 (7) of the MiFID II Directive;
- the specification of the procedures to be followed and measures to be adopted where exceptional circumstances arise and the firm is unable to record the conversation/communication on devices issued, accepted or permitted by the Company. Evidence of such circumstances shall be retained and shall be accessible to competent authorities.
20.5. Our Records
- Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with our Electronic Services. You will not object to the admission of our records as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer.
- You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request at our absolute discretion.
- The records will be retained in a medium that allows the storage of information in a way accessible for future reference by the competent authority, and in such a form and manner that the following conditions are met:
- the competent authority is able to access them readily and to reconstitute each key stage of the processing of each transaction;
- it is possible for any corrections or other amendments, and the contents of the records prior to such corrections or amendments, to be easily ascertained;
- it is not possible for the records otherwise to be manipulated or altered;
- it allows IT or any other efficient exploitation when the analysis of the data cannot be easily carried out due to the volume and the nature of the data; and
- the firm’s arrangements comply with the record keeping requirements irrespective of the technology used.
20.6. Your Records
You agree to keep adequate records in accordance with the Applicable Laws and Regulations to demonstrate the nature of orders submitted and the time at which such orders are submitted. You can access your statements online at any time via our Website or mobile app. You may request to receive your statement monthly or quarterly via email, by providing such a request to the support department.
20.7. CONFIDENTIAL INFORMATION
20.7.1. The Company does not have any obligation to disclose to the Client any information or take into consideration any information either when making any decision or when it proceeds to any act on behalf of the Client, unless otherwise agreed and stated in this Agreement and where this is imposed by the relevant Laws and Regulations and directives in force.
The Company has the right, without informing the Client beforehand, to disclose such details of the Client’s transactions or such other information as it may deem necessary in order to comply with any requirements of any person entitled to require such a disclosure by Law.
20.8. Investor Compensation Fund
20.8.1. We participate in the Investor Compensation Fund for clients of Investment Firms regulated in Cyprus. You will be entitled to compensation under the Investor Compensation Fund where we are unable to meet our duties and obligations arising from your claim. Any claims related to trading CFDs on virtual currencies are currently not subject to the Investor Compensation Fund scheme.
20.8.2. Any compensation provided to you by the Investor Compensation Fund shall not exceed twenty thousand (20 000) EUR and applies to your aggregate claims against us.
20.8.3. The Investor Compensation Fund does not cover Professional Clients but only retail clients of CIFs.
20.9. Complaints Procedure
20.9.1. We are obliged to put in place internal procedures for handling complaints and inquiries fairly and promptly. In the event you are dissatisfied about the Electronic Services provided to you by the Company you can submit the claim through the “Complaints Procedure” section of our Website. You must provide the following information to assist us in dealing with your complaint:
- Your Trading Account Number;
- Cause of your complaint;
- Details of the person or department of the company to whom you think the complaint should be directed;
20.9.2. To resolve your complaint, we will take the following steps:
188.8.131.52. We will confirm, within five (5) Business Days, receipt of your complaint and provide you with your Unique Reference Number. You should use said reference number in all future contact with us, the Financial Ombudsman and/or CySEC regarding your complaint.
184.108.40.206. After thorough investigation, we will reply to your complaint within two (2) months, informing you about the outcome of our investigation, the actions that will be taken to resolve the matter, where appropriate, and offering you a solution. In the event that we are unable to respond within two (2) months, due to the complexity of the complaint, we will inform you of the reasons for the delay and indicate the period of time within which it is possible to complete our investigation. This period of time will not usually exceed three (3) months from the submission of the complaint.
220.127.116.11. In the event that our final decision does not fully satisfy you, you may refer your complaint to the Financial Ombudsman. The Financial Ombudsman is an independent service for settling disputes for Cyprus Investment Firms and their clients. Details for the Financial Ombudsman will be provided on our final response as well as the details on how to file a complaint with CySEC. Please note that disputes related to trading CFDs on virtual currencies cannot be currently forwarded to the Financial Ombudsman.
20.10. Transfers & Assignment
These Terms shall be for the benefit of and binding upon us both and our respective successors and assigns. You shall not assign, charge or otherwise transfer or purport to assign, charge or otherwise transfer your rights or obligations under these Terms or any interest in these Terms, without our prior written consent, and any purported assignment, charge or transfer in violation of this Clause shall be void. You agree that we may without further notice to you and subject to the Applicable Laws and Regulations, transfer by whatever means we consider appropriate all or any of our rights, benefits, obligations, risks and/or interests under these Terms to any person who may enter into a contract with us in connection with such transfer and you agree, that we may transfer to such person all information which we hold about you.
20.11. Time is of Essence
Time shall be of the essence in respect of all obligations of yours under these Terms (including any Transaction).
20.12. Rights and Remedies
The rights and remedies provided under these Terms are cumulative and not exclusive of those provided by the Law. We shall be under no obligation to exercise any right or remedy either at all or in a manner or at a time beneficial to you. No failure by us to exercise or delay by us in exercising any of our rights under these Terms (including any Transaction) or otherwise shall operate as a waiver of those or any other rights or remedies. No single or partial exercise of a right or remedy shall prevent further exercise of that right or remedy or the exercise of another right or remedy.
Without prejudice to any other rights to which we may be entitled, we may at any time and without notice to you set-off any amount (whether actual or contingent, present or future) owed by you to us against any amount (whether actual or contingent, present or future) owed by us to you. For these purposes, we may ascribe a commercially reasonable value to any amount which is contingent or which for any other reason is unascertained.
20.14. Partial Invalidity
If, at any time, any provision of these Terms is or becomes illegal, invalid or unenforceable in any respect under the Law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of these Terms nor the legality, validity or enforceability of such provision under the Law of any other jurisdiction shall in any way be affected or impaired.
20.15. Data Protection
The Company and its related entities are responsible for the protection of the privacy and the safeguarding of your personal and financial information.
Your personal data are safely stored in the Company’s electronic systems and are treated as confidential. The Company will not disclose any of the Client’s personal data to a third party that is not an affiliate, partner, or an associate related to the provision of services to the Client, unless we have your consent or the Company is required to do so by an official government regulatory authority or a competent jurisdiction. The Company will not hold any information about its Clients’ debit or credit cards, or any payment method used by a Client to make his/her deposit not required by the Applicable Regulations and will at all times be in compliance with the undertaken cardholder data security standards.
20.16. Spanish Clients
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 the entire amount invested.
For Clients that are residents of Spain ("Spanish Clients”), that are eligible to trade with leverage greater than 1:10, a special set of required warnings regarding CFDs will be shown by the Company. The Company shall also obtain a typed 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.
20.16.1. 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 entire amount 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 they will be able to make a statement by typing the following wording:
“This product is complex and CNMV has determined that it is not convenient for me”.
20.16.2. 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 entire amount 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 they will be able to make a statement by typing the following wording:
“This product is complex and has been determined as unsuitable for me”.
20.16.3. if we determine that we do not have enough information to assess 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 they will be able to make a statement by typing 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 typed statements shall form a part of the contractual documentation between the relevant Spanish Client and the Company. A record will be kept of the typed statements made by Spanish Clients that will be readily available for review and inspection by the CySEC or any other competent authority.
20.16.4. All or our advertising mechanisms that will be available Spanish Clients 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”.
20.16.5. 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 typed 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 type the statement in Spanish.
20.17. Polish Clients
20.17.1. A resident of Poland (“Polish Client”) by accepting these Terms agrees in relation to all of its contractual arrangements with the Company to:
18.104.22.168. the submission of all declarations of intent in electronic form by the Polish Client and the Company;
22.214.171.124. the conclusion of any agreement between the Polish Client and the Company in electronic form, including these Terms;
126.96.36.199. have communications with the Company in electronic form.
20.17.2. The maximum leverage available to Polish Clients of the Company is 1:100.
20.18. French Clients
20.18.1. The provision of Services on CFDs (i) to a non-professional Client, or to a potential Client who cannot be considered to be a professional Client with certainty and (ii) who is located in France at the time of acceptance of these Terms (“French Client”) is automatically subject to the following special procedure of placing and executing a Guaranteed Stop Loss Order:
A Guaranteed Stop Loss Order for a French Client is an order that is automatically attached to all orders of a French Client to close a position at an exact price determined by a French Client that is worse than the current price, but under no circumstances is at the level that can lead to losing more than the French Client initially invested in placing this specific order. A French Client is therefore contractually not provided with the possibility to place a Guaranteed Stop Loss Order at the level that can lead to losing more than he initially invested in a specific order. This order type represents the protection mechanism that structurally prevents a French Client from losing an amount greater than the amount initially invested. When accepting a Guaranteed Stop Loss Order from a French Client we guarantee that when our bid or offer quote goes beyond the specified price, we will close the position at exactly the price specified, in this way we guarantee that a French Client will never lose more than the amount he invested in placing an order. An open position can be closed at the initiative of a French Client before reaching the Guaranteed Stop Loss Order level.
PART 21. GOVERNING LAW AND JURISDICTION
21.1. Governing Law
The interpretation, construction, effect and enforceability of these Terms shall be governed by the laws of Cyprus and the Competent Court for the settlement of any dispute may arise between you and the Company shall be the District Court of the district in which the Company’s headquarters are located. You as the Client agree that all Transactions carried out on the CAPITAL.COM Online Trading Platform are governed by the laws of Cyprus regardless of the location of the Client.
The Parties to these Terms submit to the exclusive jurisdiction of the courts of Cyprus to settle any suit, action or other proceedings related to these Terms (“Proceedings”).
21.3. Proceedings for Polish Clients
Despite the provisions in Section 20.17 herein, Polish clients may at their own discretion refer any of the Proceedings related to these Terms to the competent courts in Poland.
21.4. Waiver of Immunity and Consent to Enforcement
You irrevocably waive to the fullest extent permitted by applicable Law, with respect to yourself and your revenue and assets (irrespective of their use or intended use) all immunity on the grounds of sovereignty or other similar grounds from suit; jurisdiction of any courts; relief by way of injunction, order for specific performance or for recovery of property; attachment of assets (whether before or after judgment); and execution or enforcement of any judgment to which you or your revenues or assets might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agree that you will not claim any immunity in any Proceedings. You consent generally in respect of any Proceedings to the giving of any relief or the issue of any process in connection with such Proceedings, including, without limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which may be made or given in such Proceedings.
21.5. Service of Process
If you are situated outside of Cyprus, process by which any Proceedings in Cyprus are begun may be served on you by being delivered to the address in Cyprus nominated by you for this purpose. This does not affect our right to serve process in another manner permitted by law.
PART 22. PILLAR III
Following the implementation of the EU Regulation 575/2013 the Company is required to disclose information relating to its capital as well as the risks that the Company is exposed to. The Company’s policy is to meet all required Pillar III disclosure requirements as detailed in the Capital Requirements Regulation (CRR). This report is published on the Company’s website at https://capital.com/pillar-3-disclosure
Terms and Conditions Version 7_20190517