From time to time, you may be required to provide information ("Data") to TPTRADES™ in order to register for membership, use or subscribe to certain services, make online purchases, or register for marketing activities held by TPTRADES™ . Additional site use Data may be gathered as you navigate our web sites. This Data is gathered for the following main purposes: (a) To establish your identity - for these purposes, contact information such as, name, correspondence and e-mail addresses will be collected from you during the registration process. (b) To process online purchase with TPTRADES™ - contact information, credit card details and other payment related information may be obtained. (c) To subscribe the services and support - this Data comprises contact information, credit card details or other payment related information, as well as the services or support requested by you. This Data is also used to provide you with product and service updates and similar notices in respect of the services provided by TPTRADES™ . (d) To post messages submit posting to our social media, internet platform or any other means or answer a survey - email addresses or names will be collected. (e) To tailor our service to your needs - information on service use may be used to compile aggregate statistics and carry out analysis in order to help us create content and navigation that is most relevant and user friendly to users. (f) For marketing and promotional purposes for TPTRADES™ electronic products and related products and/or services, as well as communication with members, including contacting you directly to inform you of new services or opportunities“ names, email addresses, mobile phone number or addresses will be collected. Whilst TPTRADES™ endeavors to adhere to our strictest guidelines and select only reputable partners in providing the service, our privacy protection does not cover Data that you provide directly to third parties (including but not limited to buyers/sellers in online auctions, on-line merchants sites, other hyper linked website). TPTRADES™ advises you to consult with the relevant parties before providing any data.
2.1. The Client hereby instructs TPTRADES to establish the Account on TPTRADES™ books in the name of the Client. The Client acknowledges and accepts that the TPTRADES may place your funds in our designated Client Money account in a different currency to your base currency. Such Client Money will be at least equal in value to your base currency and will comply with UK regulatory requirements. The Client acknowledges and accepts that the Account will be maintained in the base currency selected when the account was established and is the currency in which the Account balance is held.
2.2. The Client represents, warrants and undertakes that the Client is acting for the Client's sole benefit and not for or on behalf of any other person or entity, the funding for the Transactions belongs to the Client and all Transactions are and will be carried out for the sole benefit of the Client.
2.3. The Client is the only person or entity authorized or permitted to enter into Transactions for the account. If the Client appoints an agent, the Client hereby acknowledges and agrees that they shall be solely responsible for all acts and/or omissions of the agent, and neither TPTRADES nor any of its affiliates nor the officers, directors, managers, agents or employees of TPTRADES or any TPTRADES affiliate shall be liable to the Client for any such actions or omissions, whether or not within the scope of the agents authorization.
2.4. If the Client is more than one person, all such persons shall be jointly and severally liable for all obligations of the Client under this Agreement. In such event (unless otherwise agreed in writing between the Client and TPTRADES) the sole person or entity authorized to enter into or close out Transactions for the Account is the first of such persons mentioned. Withdrawals from the Account (in accordance with Clause 9.1) may require the signatures of all persons identified as the Client and authorized.
2.5. You shall notify TPTRADES by email within 30 days, and promptly update any factual change in the validity of the information you have previously provided to us of a personal nature such as your contact information, email address, residential address or contact telephone number. You must notify us of any material changes to your financial profile that you have provided in your registration data. We may carry out due diligence checks from time to time in relation to your investment activity. We may request additional information from you to maintain our records. You agree that failure to comply or notify us of any changes to your financial profile in a timely manner may result in TPTRADES exercising its rights under Clause 7.2.
3.1. You will be a user of TPTRADES™ Trading Platform and the specific terms applicable to each platform are set out in Schedule 4. You may enter into Transactions for the Account through the Trading Platform, or through other mobile platforms that may become available from time to time, in accordance with TPTRADES™ standard practices and procedures in effect from time to time and notified to the Client through the Trading Platform and/or in Schedule 4 as applicable. TPTRADES is an execution only broker and as such all transactions will be executed on a principal-to“principal basis. All Transactions entered into are at the Client's sole responsibility, risk and expense and subject to the terms and conditions set out in this Agreement as amended from time to time.
3.2. You will be a user of TPTRADES™ Trading Platform and the specific terms applicable to each platform are set out in Schedule 4. You may enter into Transactions for the Account through the Trading Platform, or through other mobile platforms that may become available from time to time, in accordance with TPTRADES™ standard practices and procedures in effect from time to time and notified to the Client through the Trading Platform and/or in Schedule 4 as applicable. TPTRADES is an execution only broker and as such all transactions will be executed on a principal-to“principal basis. All Transactions entered into are at the Client's sole responsibility, risk and expense and subject to the terms and conditions set out in this Agreement as amended from time to time.
3.3. The Client hereby acknowledges and agrees that (i) TPTRADES will enter into Transactions at its sole discretion and will act as principal with respect to all Transactions; and (ii) TPTRADES will not and does not provide any advice, consulting or intermediary services to the Client; (iii) TPTRADES may at its sole discretion cover any Transaction, in whole or in part, in any manner it considers appropriate, whether by way of set-off with a Transaction with or for another of its Clients or otherwise; and (iv) except to the extent required under any law or regulation applicable to TPTRADES or the Account, nothing in this Agreement or in the relationship between TPTRADES and the Client shall or shall be deemed to create any agency or fiduciary relationship between TPTRADES and the Client.
3.4. If any Transaction is not closed-out by the Client prior to 4:00pm Eastern Standard Time on the business day such spot Transactions are entered into, TPTRADES will automatically rollover such spot Transactions to the next Value Date with adjustments made to take account of interest rate differentials between the currencies in the relevant currency pair, the direction of the trade and any storage or other fees that are applicable to the Account. A Transaction confirmation with respect to such rollover will be provided to the Client in accordance with Clause 13.1. If there are insufficient funds available in the Account to meet the interest rate adjustment costs of any Transaction, we may in our absolute discretion either close out the prior open Transaction or we may make a Margin Call on you in accordance with Clause 4.3. TPTRADES will not normally make Margin Calls on a Client which is a user of the Web Platform.
3.5. TPTRADES normally quotes bid prices (at which the Client can offer to sell) and offer prices (at which the Client can offer to buy) for each Transaction. These prices are determined by TPTRADES based on prices quoted in the Interbank Foreign Exchange Market for spot forex Transactions and for CFD Transactions and are based on prices quoted on the markets on which the underlying security, commodity or other instrument is traded. The difference between the lower, bid, price and the higher, offer, price is the spread For some Transactions spreads may change frequently. In any event TPTRADES has the right to vary its spreads at any time in its absolute discretion without notice.
3.6. Prices quoted by TPTRADES are set by TPTRADES in its absolute discretion. The Client may only offer to enter into a Transaction at the price currently quoted by TPTRADES. A price may change or cease to be valid at any time after it has been quoted and before the Clients offer to enter into a Transaction is accepted. Reference is also made to Clauses 9.2.2 and 9.2.3 below.
3.7. TPTRADES may provide a Market Execution service to you. If offered, you warrant that trades executed at market execution spreads can widen significantly and are affected by actual market conditions, which are beyond TPTRADES™ control. The prices quoted by us will reflect what we perceive as the market price in an Instrument at that time as opposed to the indicative price you see on the platform at the time of your request for execution. We do not guarantee any maximum or minimum limits to the quoted spreads. In some circumstances, the spreads may not be representative of the examples given in the product information contract specification. At times of high volatility or dependent on the volume size of your trades, your trades will be executed at the next available price subject to slippage. Quotes for Market Execution are filled with minimum or no re-quotes, or in some instances it may not be possible to arrange an order for execution. Stop or Limit orders may also be affected by this. You acknowledge that each Transaction entered into must not result in exceeding any credit or other limit placed on your account. Transactions which the Client may offer to place are subject to maximum limits established in TPTRADES™ absolute discretion from time to time by Notice provided to the Client from time to time via the Trading Platform.
3.8. We shall be entitled to rely on and act in accordance with any instructions, requests and notices (whether or not in writing and howsoever communicated) which we believe in good faith to emanate from you, an agent or a person duly authorized to instruct us or transact on your behalf.
3.9. It is possible that errors may occur in the prices quoted by us. In such circumstances, without prejudice to any rights either we or you may have under common law, neither you nor us will be bound by any Transaction which purports to have been made (whether or not confirmed by us) at a price which was, or ought reasonably to have been, known to either you or us to be materially incorrect at the time of the Transaction.
3.10. If at any time you are unable for whatever reason, to communicate with us we shall not be responsible for any resultant loss, damage or cost except where your inability to instruct us or communicate with us resulted from our fraud, willful default or gross negligence.
3.11. It is not possible to rollover all expiring CFD Transactions to the next contract month. You acknowledge that it is your responsibility to familiarize yourself with CFD Transactions specifications and expiry dates and times, at your risk. If you do not close open positions in respect of an expiring CFD Transaction on or before the last trading day, subject to Contract Specification notification, we will automatically close your open positions as soon as we have established the Settlement Price of the expiring CFD Transaction.
3.12. The Settlement Price of the expiring CFD Transaction, will be (a) the last traded price at or prior to the close or the applicable official closing quotation or price in the relevant underlying market as calculated and stated by the relevant exchange; and (b) any Spread that applies to your account when such an expiring CFD Transaction is closed.
3.13. Details of the Spread that we apply when a particular expiring CFD Transaction is closed at the Settlement Price will be determined (a) by your account type; and (b) based on the standard Contract Specifications which are available upon request. You acknowledge that it is your responsibility to familiarize yourself with the Contract Expiry Notification and any Spread that we may apply when we close your Transaction.
3.14. In order to maintain the adequate capacity of the TPTRADES trading platforms, you agree that you will not enter into any Transactions on our platforms which fall within our definition of Scalping. TPTRADES defines scalping as a trading strategy whereby profits are returned by taking advantage of internet latencies, delayed prices caused by technical issues or other conditions, or where both buy and sell orders are entered at, or nearly at the same time. Scalping is considered a serious breach of our Terms and Conditions, and as such, TPTRADES may in its absolute discretion close out, replace, reverse any Transactions or close out the Account with immediate effect.
3.15. TPTRADES does not guarantee that the placement of a Stop Loss will fully protect against excessive losses being incurred on your account. Stop Losses are intended to reduce risk. You should maintain adequate levels of free margin in your account to maintain open positions at all times.
3.16. In accordance with our regulatory obligations, we have categorized you as a retail client and therefore we have provided your account with additional investor protections in the form of an added negative balance protection mechanism across all your accounts. Our negative balance protection mitigates trading losses that exceed your account equity during volatile market conditions by automatically resetting negative account balances back to zero. TPTRADES reserves the right, at its sole discretion, to look across all your accounts and draw down on trading credits if available or reduce in strict proportion to losses incurred when resetting negative account balances back to zero, and by offsetting any deficit amounts from positive amounts before processing any withdrawals. It is possible that errors may occur, such as your account balance remaining in deficit. In such circumstances, please contact our Customer Services Team at [email protected].
4.1. As a condition of the entry into each Transaction for the Account, the Client must provide and maintain in the Account sufficient margin as determined by TPTRADES in its sole discretion from time to time. It is also the Clients responsibility to ensure that each Transaction in the Account is fully margined at all times. If at any time the Account is short of margin, TPTRADES may either give the Client a Notice from time to time (Margin Call) or close all open contracts without prior notice if in our absolute discretion the circumstances so warrant. Margin Calls will not normally be made by telephone but we reserve the right to do so.
4.2. Our margin requirements are set out on our Website and it is your responsibility to ensure that you understand how a Margin is calculated. During the lifetime of any CFD, we, in our absolute discretion, reserve the right to review and adjust the percentage of funding required or the rates at which interest is calculated on such CFD, with or without notice to you, especially in, but not limited to, volatile market conditions (see also 4.5 below). The margin requirement for an open position may increase or decrease at any time until the open position is closed. Spot positions that are open overnight may be adjusted to reflect the cost of carrying the position over. Details of such adjustments are available on our Website.
4.3. When the Account is opened, the Client will transfer into the Account a first margin deposit of not less than such minimum amount as may be established by TPTRADES from time to time and notified to the Client. Such first deposit may be made by bank transfer or credit card payment or such other method as may be agreed between TPTRADES and the Client. Such first deposit together with subsequent margin deposits made by the Client from time to time and any profits and losses from existing open and closed Transactions, credits and debits from daily rollovers, and charges from commissions, if applicable, shall serve as the guarantee for the performance of Transactions in the Account.
4.4. Unless otherwise agreed, margin must be paid in cash. Cash margin is paid to us as an outright transfer of funds and you will not retain any interest in it. Cash margin received by us will be recorded by us as a cash repayment obligation owed by us to you.
4.5. TPTRADES may, in its absolute discretion at any time change the minimum margin requirement or make a Margin Call requiring the Client to make further margin deposits in the Account. The Client shall if requested by TPTRADES, make further margin deposit.
4.6. We reserve the right to change the way in which we calculate Margin Requirements at any time, for example, and without limitation, in response or anticipation of the following:
4.7. We will not accept any third-party payments made in respect of funding your account. Similarly, we will not pay out any funds from your account to any third party.
5.1. If the Margin Level for your Account reaches or falls below the Margin Close Out Level, this will be classified as an Event of Default under clause 15. In such circumstances we may, among other things, (i) close all or any of your Open Positions immediately and without notice, and/or (ii) refuse to execute new Trades until your Margin Level exceeds the Margin Close Out Level. It is your responsibility to monitor your Account(s) at all times and to maintain your Margin Level above the Margin Close Out Level. We will close your Open Positions at Our Price prevailing at the time when your Open Positions are closed.
5.2. The Margin Close Out Level applicable to your Account will be equal to the Margin Requirement applicable to your Account unless we alter your Margin Close Out Level. We may alter the Margin Close Out Level applicable to your Account at any time without any prior notice.
6.1. Market abuse includes transactions where both buy and sell orders are entered at, or nearly at the same time, with the same price and quantity by the same party, or different but colluding parties, other than for legitimate reasons, unless the transactions are legitimate trades carried out in accordance with the rules of the relevant trading platform (such as crossing trades).
6.2. By trading with us you are likely to be subject to various market abuse regimes. Accordingly, you must not carry out any trading activity on the basis of inside information or carry out any trades in order to create a distorted market or misleading impression in relation to the price of financial instruments.
6.3. You undertake to familiarize yourself and comply with any Applicable Regulations concerning the short sale of securities if you seek to execute a CFD or Financial Spread Bet Trade with a short securities position which we may hedge with a short sale of securities you will ensure that your use of the Electronic Service will not result in a breach by us of any Applicable Regulations concerning the short sale of securities.
6.4. We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a Financial Instrument with us, your Transactions can, through our hedging, exert a distorting influence on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse.
6.5. For the purpose of complying with legal and regulatory obligations we may in our absolute discretion, and without being under any obligation to inform you of our reason for doing so, close any Trades that you may have open and may, if we so elect, treat all Trades closed under this clause 6 as void.
6.6. We will treat all your Transactions that meet the circumstances set out in this Term as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for us taking action under this Term. For the avoidance of doubt, if you do not produce such evidence within the period of three months from the date on which action is taken by us under this Term, all such Transactions will be finally null and void as between you and us; or
6.7. You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions.
6.8. You will not use any device, hardware, software, algorithm, strategy, collusion or deception, the use of which is intended, whether directly or indirectly, to cause or influence us to provide our Platform or accept any trade in a way in which or on terms on which we would not otherwise do so.
6.9. Any form of abusive behavior is strictly probited. The ahusive trading are, including but not limited pricing abuse, swap-free abuse, latency abuse, scalping abuse, commission abuse, system error abuse, cred/bonus abuse, promotion abuse, multiple accounts abuse, etc. (a) Pricing Abuse The Client may engage in market manipulation tactics by inflating or deflating prices on specific exchanges to influence the value of underlying assets. These traders might strategically place orders with TP Trades either concurrently or in advance, intending to capitalize on the resulting price discrepancies and benefit from the manipulation of pricing.
6.10. Unlawful trading techniques: Internet, connectivity delays, and price feed errors sometimes create a situation where the price(s) displayed on our Online Trading Facility do(es) not accurately reflect the market rates. The concept of using trading strategies aimed at exploiting errors in prices and/or concluding trades at off-market prices and/or by taking advantage of internet delays (commonly known as "arbitrage", "sniping" or "scalping" hereinafter, collectively, referred to as “Arbitrage"), cannot exist in an OTC market where the client is buying or selling directly from the principal; accordingly, we reserve the right, at our sole discretion, NOT to permit the abusive exploitation of Arbitrage on our Online Trading Facility and/or in connection with our Services; any Transactions or Contracts that rely on price latency arbitrage opportunities may be revoked, at our sole discretion and without prior notice being required; furthermore, in those instances, we reserve the right, at our sole discretion and without prior notice being required:
7.1. The Client may request TPTRADES to permit withdrawal from the Account. In calculating the amount available for withdrawal, TPTRADES will take into account the balance in the account where the withdrawal is requested and the balance/s in other account / accounts maintained by the customer minus trade credits (provided by TPTRADES for trading only) in all accounts. All withdrawal requests should be made in writing and in a form acceptable to us. Without prejudice to any rights of TPTRADES under this Agreement, TPTRADES shall transfer such excess amounts (if any, and as determined by TPTRADES in its sole discretion), less any applicable Bank or other transfer fees, according to the Client's instructions within seven (7) Business Days from the date of receipt of the applicable written instruction. For the avoidance of doubt any such transfer by TPTRADES is subject to (i) applicable laws and regulations including but not limited to anti-money laundering, tax authorities requirements for deduction at source and exchange control foreign currency transfer restrictions, and (ii) the Client providing full identification documentation as required by TPTRADES.
7.2. If the Client wishes to withdraw excess funds (calculated as explained in clause 7.1 above from the Account) and close the Account, the Client shall do so by notifying TPTRADES. Following the transfer (if any) made by TPTRADES pursuant to such request, TPTRADES shall close the Account in accordance with Clause 7.
8.1. Charges and commissions applicable to your account will be provided to you in good faith, agreed with you before entering into any transaction (subject to clause 4.8 above) and will be shown on the statement sent to you. In such an event, the Commissions will be charged to the Account. Commissions and charges may be changed from time to time. Your approval may not be always sought. If any charges are not expressed in money terms (but for example as a spread), the Client should ask for a written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms. Further information in respect to costs and charges are provided in an aggregated form on the Companys Website (expressed in both as a cash amount and as a percentage) as well as within the Companys Terms of Business, which constitutes part of this Agreement. The Company is in a position to provide you with an itemized breakdown of costs and charges upon your request. The respective request should be addressed to [email protected].
8.2. Spreads: Prices quoted to you by TPTRADES will include a spread, mark-up, or mark-down when compared to prices that TPTRADES may receive or expect to receive if it were to cover your transactions with, for example, a trade in the forex interbank market. The spread is dynamic and may factor in the liquidity in the external markets and the competitor pricing. Our spreads are set at our absolute discretion, since we are acting as a market maker, and any changes are effective immediately. Further details in regards to the spreads applicable for each Financial Instrument are specified on our Website.
8.3. Rollover Fees: As per the provisions of Clause 3.5 of this Agreement, in case where any Transaction is not closed-out by the Client prior to 4:00pm Eastern Standard Time on the business day such Transactions are entered into, TPTRADES will automatically rollover such Transactions and charge the applicable fee. The size of rollover fee is specified for each instrument on our Website. It is your responsibility to familiarize yourself with our rollover terms and conditions.
8.4. Inactivity Fee: Inactive Accounts, as defined above under clause 8.1 of this Agreement, will be charged an administrative fee of US $10.00 or the equivalent value in your account base currency every month, until account activity resumes. For reimbursement of inactivity fees, please refer to our Terms of Business.
8.5. Currency conversion rates: Investing in financial instruments with an underlying asset listed 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. The currency conversion rates used are determined by TPTRADES in its sole discretion on the basis of the then prevailing exchange rates.
8.6. Additional Costs: You should be aware of the possibility that other taxed or costs may exist that are not paid through or imposed by the Company. It is your sole responsibility to bear these additional costs.
8.7. Ex-Post disclosure: The Company will provide the clients on a monthly basis reports which take into consideration the actual costs and charges incurred by the client.
8.8. TPTRADES may, at its sole discretion, decide to make changes to the charges and commissions applicable to your account from time to time without prior notice to you. In such an event, these changes apply to each Transaction entered into or deemed outstanding between TPTRADES and the Client.
9.1. Client Money
9.2. Order Execution
9.3. Client Money
9.4. Data Protection
9.5. Compensation Scheme
9.6. Complaints
9.7. EMIR
9.8. Appropriateness
9.9. Product Governance
9.10. Key Information Document
9.11. Transaction Reporting
9.12. Client Categorization
The Client understands and acknowledges that:
11.1. The Client acknowledges that he understands and fully and solely assumes the risks involved in providing telephone instructions, including the risks of possible misunderstanding of the Client's instructions, impostures and/or false identification of the Client on the phone. If the Client does not wish telephone Transactions to be permitted, he should so inform TPTRADES in writing.
11.2. The Client acknowledges and agrees to receive telephone calls from TPTRADES at their last updated telephone number recorded in our system at an appropriate time of the day and TPTRADES agrees to reschedule such calls to an alternative date and/or time should the client so request.
11.3. Any and all telephone conversations between the Client and TPTRADES, may be recorded in accordance with applicable laws and regulations and to the use of such recording in relation to any dispute between the Client and TPTRADES.
11.4. The Client understands that TPTRADES will retain such recordings for a limited period in accordance with its document retention policies in effect from time to time.
11.5. We strongly recommend that you keep your own records of all communications between us (such as instructions and transactions) including details of the times, dates and nature of your instructions as these details will be important if there is a dispute between you and us.
11.6. You acknowledge that, under no circumstances, will TPTRADES representatives provide investment advice or request that you provide them with sensitive information such as passwords and payment methods information. You further acknowledge that telephone calls are not a guaranteed service, and that no assumptions should be made in relation to the frequency and/or purpose of such calls. Should you decide not to receive telephone calls, you can contact Customer Support with this request.
12.1. If we receive, for any reason, a dispute, claim, and/or chargeback from your credit card issuer or any other payment method you use, you acknowledge that we have the right to:
12.1.1.immediately close any and all of your open Transactions whether at a loss or a profit and liquidate your Trading Account with or without any notice; and/or
12.1.2.immediately place restrictions on your trading account with or without any notice, including: i) the restriction on making deposits using any payment method to your trading account, even in cases of margin alert(s), ii) the restriction on requesting withdrawals from your trading account, and iii) the restriction on opening new positions on the trading platform; the duration of the restrictions will be set at the TPTRADES™ discretion;
12.1.3.terminate the Client Agreement in accordance with Clause 17 of this Agreement.
The Company will not be held liable for any loss, cost or charge incurred resulting directly or indirectly from the exercise of our right to place restrictions on your trading account as provided in this section of this Agreement. You further agree that the exercise of our right under Clause 24 of this Agreement does not affect, diminish, influence or alter in any way our rights to make Margin Calls under this Agreement.
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