Forexiti is a leading provider of online trading services. This Agreement ("Client Agreement") outlines the terms of business governing your trading activities with Forexiti. By accessing or using our platform, you agree to be legally bound by these Terms and Conditions. If you do not agree, you must discontinue using our services.
1.1. These Terms of Business, along with the following documents and any additional appendices added thereto (collectively referred to as the "Agreement"), establish the rights and obligations between you ("Client") and Forexiti ("Company," "we," "us," "our"). By signing the Application Form or agreeing online via the relevant checkbox, you confirm your acceptance of this Agreement:
1.1.1. The Risk Disclosure and Warning Notice.
1.1.2. Our Execution Policy.
1.1.3. Your completed Application Form.
1.1.4. Any other specific terms and conditions displayed on the Forexiti website.
1.1.5. Any relevant software licenses.
1.1.6. Any additional terms issued by Forexiti, including those related to trading accounts or transactions.
1.2. All documentation between Forexiti and the Client will be provided in English, and the English version of this Agreement shall prevail in the event of any translation discrepancies. We strongly encourage you to read and fully understand this Agreement for your benefit and protection.
1.3. Defined terms in this Agreement are detailed in the applicable regulatory rules and guidelines.
1.4. Forexiti is committed to acting honestly, fairly, and professionally in accordance with your best interests. Regulatory rules and guidelines will take precedence over this Agreement if there is any conflict.
1.5. This Agreement may be updated periodically as described in clause 26 (Amendments and Termination). Changes will be communicated via notice on the Forexiti platform or other appropriate means.
1.6. Forexiti reserves the right to modify, suspend, or discontinue any or all services. While we will make reasonable efforts to provide prior notice, this may not always be feasible. Clients agree that Forexiti is not liable for any modifications, suspensions, or discontinuations.
1.7. The copyrights, trademarks, databases, and other proprietary materials (including, but not limited to, prices and content on our website) remain the exclusive property of Forexiti or any identified third-party owner.
1.8. This Agreement takes effect upon activation of your trading account and remains in force unless terminated by either party in accordance with clause 26.
1.9. This Agreement governs a series of successive or separate operations, including transactions. The Agreement is not cancellable as a "distance contract" under regulatory rules.
2.1. Words in the singular include the plural and vice versa; terms referring to one gender apply to all genders; and references to persons include corporations, partnerships, and other legal entities.
2.2. References to clauses, parties, or schedules pertain specifically to this Agreement unless stated otherwise.
2.3. Terms not explicitly defined in this Agreement shall be interpreted in line with applicable regulatory rules and guidelines.
2.4. Clause headings are provided for reference and convenience only and do not affect the interpretation of this Agreement.
We wish to highlight some key information regarding your trading activities with Forexiti:
3.1. Principal-to-Principal Transactions: All trading transactions with Forexiti are conducted on a principal-to-principal basis. This means that Forexiti does not act as your agent unless explicitly agreed upon. You acknowledge that you enter into this Agreement, and all trades contemplated under it, as a principal and not as an agent for any other party. Forexiti will treat you as our client for all purposes under this Agreement.
3.2. Execution-Only Basis: Forexiti provides trading services for margined contracts for differences (CFDs) strictly on an execution-only basis. Any information provided by Forexiti should not be considered advice on the merits or suitability of any specific trade. Forexiti does not offer advice regarding the tax implications of transactions. If you are uncertain about the suitability of trading CFDs, we recommend seeking independent financial advice before proceeding.
3.3. Understanding the Business and Risks: It is essential that you understand the nature of the trading services offered and the associated risks. Ensure you are familiar with how to open and close positions, place and manage orders, calculate profit and loss, meet initial margin requirements, and understand the conditions under which Forexiti may close your open positions. Comprehensive guidance is available on our website.
3.4. Client Responsibility: You are solely responsible for your actions or omissions while using Forexiti’s platform. It is your duty to monitor and manage your open positions at all times.
3.5. Company Rights to Close Positions: Forexiti reserves the right to close your open positions under specific circumstances. To maintain open positions, you may be required to make additional payments to Forexiti at short notice.
3.6. CFD Market Terminology: Trading CFDs involves specialized terminology and market practices. You should only engage in trading if you fully understand the terminology and concepts involved.
3.7. Legal Enforceability: All transactions under this Agreement are legally binding. Forexiti may take legal action to recover any amounts owed by you under the terms of this Agreement.
3.8. Tax Responsibilities: You are solely responsible for understanding and managing your tax obligations arising from your trading activities. Tax treatment depends on your individual circumstances and may change over time due to new legislation, regulations, or your personal situation. Forexiti does not provide tax advice, and we encourage you to seek independent guidance regarding your tax obligations.
3.9. Regulatory and Market Changes: Forexiti is not obligated to notify you of changes in laws, regulations, or market practices that may affect your trading activities.
3.10. Nature of CFD Trading: When trading CFDs, you are placing trades on the price movements of a bespoke financial product. This product may not reflect the exact price of the underlying asset, security, or index. At no point do you acquire ownership of the underlying asset or security.
4.1. Speculative Nature of Trading: Trading and investing in products like CFDs, particularly those involving leverage, is speculative and carries a high risk to your capital. These investments may not be suitable for all investors. You should fully understand the risks and seek independent financial advice before entering into any transactions.
4.2. No Suitability Obligation: Forexiti is under no obligation to assess the suitability of these products for your personal circumstances. It is your responsibility to determine whether trading these products aligns with your financial situation and objectives.
4.3. Leverage Risks: Leveraged products, such as CFDs, involve significant risks. Losses can exceed your initial investment and may include any additional funds held on deposit as margin.
4.4. Execution-Only Service: Forexiti provides trading services on an execution-only basis. We do not provide investment advice or guarantees regarding profit or protection from loss.
4.5. Mandatory Risk Notice Review: You are required to read and understand the Risk Warning Notice available on Forexiti’s website. This document forms part of the Agreement and outlines the key risks associated with trading through our platform.
5.1. Execution Standards: All orders placed through Forexiti’s trading platform are executed in accordance with the terms outlined in our Execution Policy. This policy may be updated periodically and is accessible on our website.
5.2. Client Consent: By placing trades on Forexiti’s platform, you consent to the terms of the Execution Policy. This includes acknowledgment that your orders may be executed outside of a regulated market or Multilateral Trading Facility (MTF).
6.1. Potential Conflicts: Forexiti, its affiliates, associates, or connected persons may have relationships, arrangements, or interests that could conflict with your trading activities.
6.2. Conflict Management: Forexiti has implemented a Conflicts of Interest Policy to manage and mitigate any such conflicts. This policy is available upon request from our support team or via our website.
7.1. Data Use and Protection: Forexiti is committed to safeguarding the personal information of its clients. Our Privacy Policy outlines how we collect, use, and protect your data, as well as the steps you can take to limit the use of your information.
7.2. Policy Access: The Privacy Policy is available on our website. By using Forexiti’s platform, you consent to the practices described in this policy regarding data collection and usage.
8.1. Client Categories: Forexiti classifies clients into one of three categories: Retail Client, Professional Client, or Eligible Counterparty. These classifications determine the level of regulatory protection applicable to you, based on the information you provide.
8.2. Default Classification: Unless otherwise agreed and confirmed, all clients are initially classified as Retail Clients. You may request to be reclassified as a Professional Client or Eligible Counterparty, subject to meeting the necessary criteria.
8.3. Reliance on Information Provided: Forexiti relies on the accuracy and completeness of the information you provide when determining your classification. By entering into this Agreement, you expressly consent to Forexiti using and relying on this information.
8.4. Notification of Changes: You must notify Forexiti in writing of any changes to your personal circumstances that may reasonably affect your classification.
8.5. Reclassification: Forexiti reserves the right to review your classification periodically and may reclassify you if necessary. If a reclassification occurs, you will be notified and provided with at least 14 days’ notice.
9.1. Segregated Funds: If you are classified as a Retail Client, relevant amounts held in your trading account (“Segregated Funds”) will be segregated into pooled client accounts with approved financial institutions and managed in accordance with global best practices for client money protection.
9.2. No Interest Payable: Forexiti is not obligated to pay interest on any client funds held. By entering into this Agreement, you acknowledge and agree to relinquish any right to interest on these funds.
9.3. Placement of Funds: Forexiti will promptly deposit any Segregated Funds held on your behalf into a Segregated Account, as required by applicable regulatory standards.
9.4. Dormant Balances: If there has been no activity in your account for six years and we cannot contact you after reasonable attempts (including sending notices to your last known address), Forexiti may remove dormant balances from Segregated Accounts. However, if you request the return of these funds at a later time, Forexiti will process the return if your account balance is in credit
9.5. Daily Reconciliations: Forexiti conducts daily reconciliations of client records and Segregated Funds. Adjustments will be made by the close of business to ensure accurate fund management. Additional reconciliations may occur as needed to protect your or Forexiti’s interests.
9.6. Professional Clients: If you are classified as a Professional Client, the following provisions apply:
9.6.1. With your prior written consent, you may transfer full ownership of funds or collateral to Forexiti to secure or cover present or future obligations. Such funds will not be considered Client Money under regulatory rules, and you will no longer retain proprietary claims over these funds. Upon fulfillment of obligations, funds will be returned at your request.
9.6.2. For dormant balances of less than $100 (or equivalent), where there has been no activity for six years and Forexiti cannot contact you after reasonable efforts, Forexiti may release these funds from Segregated Accounts. If requested later, Forexiti will return these funds if the account remains in credit.
9.7. Business Transfers: By accepting this Agreement, you authorize Forexiti to transfer your balance to a third party as part of a business transfer, provided the balance is associated with the transferred business.
9.8. Due and Payable Funds: Client funds no longer qualify as Client Money when they become due and payable to Forexiti, such as for covering losses or meeting other obligations under this Agreement.
9.9. Currency Conversion: If you deposit funds in a currency other than your Base Currency, Forexiti will apply any conversion charges incurred. Currency conversions will be executed at a rate determined by Forexiti and agreed with you.
9.10. Segregation by Currency: Forexiti may segregate funds in a currency different from the one in which they were received. In such cases, Forexiti will ensure the equivalent value is maintained by adjusting daily using the previous day’s closing spot exchange rate.
10.1. Principal-to-Principal Transactions: In relation to any Transaction, Forexiti acts as principal to principal and not as an agent on your behalf. Unless explicitly agreed otherwise, Forexiti will treat you as the sole customer responsible for all obligations under each Transaction executed by or for you.
10.2. Acting on Behalf of Another Party: If you act on behalf of another party, either as their agent or in any other capacity, Forexiti will not recognize that third party as a client and assumes no obligation to them unless explicitly agreed in writing. You remain solely responsible for all obligations related to any Transactions conducted on behalf of another party.
10.3. Authorizing a Third Party: You may provide written notice to Forexiti authorizing a third party to act on your behalf as your agent. The authorized third party may provide instructions or make requests regarding Transactions or other matters on your behalf.
10.4. Reliance on Instructions: Forexiti is authorized to act on any instructions, requests, or communications received from you or a party purporting to act on your behalf without verifying the authenticity or authority of the person providing them. You accept full responsibility for all actions taken based on such instructions.
10.5. Authorized Third Parties: If you explicitly authorize a third party to act on your behalf, references to “Client” or “you” in this Agreement will also apply to your authorized third-party representative.
11.1. Scope of Services: Subject to your compliance with the Agreement, Forexiti may engage in Transactions with you involving Instruments listed in the Product and Contract Specifications.
11.2. Execution-Only Basis: All Transactions are executed on an execution-only basis. Forexiti does not monitor or advise on your Transactions, issue margin calls, or close open positions unless explicitly agreed upon. You are solely responsible for assessing the risks and seeking independent advice where necessary before entering into Transactions.
11.3. No Investment Advice: Forexiti does not provide investment advice, personal recommendations, or opinions intended to influence your decision to enter any specific Transaction.
11.4. Non-Delivery of Instruments: Forexiti does not provide physical delivery of any Instruments related to Transactions. All profits or losses are credited or debited to your Trading Account upon closing the Transaction.
11.5. General Information: Forexiti may provide general market information or updates through its website, email newsletters, or other channels. This information is for informational purposes only and is not guaranteed to be accurate, complete, or suitable for decision-making. It should not be considered as investment advice or financial promotion.
11.6. Refusal of Service: Forexiti reserves the right, at its sole discretion, to refuse to provide Services to you at any time without obligation to disclose the reasons for such refusal.
12.1. Order Instructions: Forexiti accepts instructions or orders from you to open or close a trade when our quoted price reaches or trades through your specified level. Details of order types and applicable markets are available on our website, trading platform, or through client services.
12.2. Order Rules and Execution: The following rules govern the placement and execution of orders:
12.2.1. Orders must generally be placed through the trading platform under normal circumstances. Orders submitted via other means may not be accepted.
12.2.2. In the event of trading platform failure during usual trading hours (details available on our website), closing orders may be placed via telephone or other live communication channels, provided we can verify your identity. Opening orders may not be accepted through these alternate methods.
12.2.3. Forexiti reserves the right to refuse to place any order at its discretion.
12.2.4. All orders are based on Forexiti’s quoted prices and are deemed to be “Good Till Cancelled” (GTC).
12.2.5. Forexiti will only accept, monitor, and execute orders during the usual trading hours for the relevant market. These hours are listed on our website.
12.2.6. Orders are executed at the first reasonable price available, based on Forexiti’s quoted prices. Market conditions, such as gapping, may affect execution prices.
12.2.7. Orders must specify price levels and other terms acceptable to Forexiti. The execution of orders is subject to reasonable conditions.
12.2.8. The execution price of orders is not guaranteed.
12.2.9. You are solely responsible for cancelling any orders you have placed. Failure to cancel an order may result in its execution and associated liabilities.
12.2.10. Orders exceeding the maximum lot size allowed by Forexiti will not be executed.
12.2.11. Unless otherwise agreed, orders are not linked to specific trades but act as independent instructions to open or close positions.
12.2.12. If the market price trades through your specified order level outside Forexiti’s trading hours but reverts before the order level is reached, the order will remain active.
12.2.13. Forexiti is not obligated to notify you when an order is filled, except through standard contract notes, confirmations, or statements as outlined in our communication policy.
12.2.14. All terms related to opening and closing trades must be adhered to when placing and executing orders. Forexiti reserves the right to reject orders that do not comply with these terms.
12.2.15. Orders will not be filled if your account lacks sufficient funds to execute the full order.
12.2.16. Updates, additions, or revisions to accepted order types will be communicated through the trading platform, website, newsletters, or bulletins.
12.3. Stop Loss Orders: Stop Loss Orders are pending instructions to close an open position at a less favorable price than the market price at the time of placing the order. Execution of Stop Loss Orders is not guaranteed and depends on:
12.3.1. The next available price after the order is triggered.
12.3.2. The position of the order in the execution queue.
12.4. Best Execution: Forexiti takes reasonable steps to achieve the best overall trading result for you. This includes considering factors such as client order nature, market conditions, and execution prices. While we aim for “best execution,” overlapping or conflicting factors may impact results.
12.5. Account Equity: It is your responsibility to ensure sufficient equity in your account to cover any orders placed. Forexiti will not be liable for direct or indirect losses resulting from unexecuted orders due to insufficient account funds. Orders that would cause your equity to become negative will be refused.
12.6. Negative Balance Protection: Negative balance protection is available only to clients in specific jurisdictions, including Germany, Austria, Switzerland, and Luxembourg.
13.1. Potential Conflicts: Forexiti, or an associate, affiliate, or connected party, may have an interest, relationship, or arrangement that is material in relation to any transaction that could conflict with your interest. Examples include, but are not limited to:
13.1.1. Dealing in the financial instrument as principal for Forexiti’s own account by buying from or selling to you.
13.1.2. Matching your transaction with that of another client by acting on both clients’ behalf.
13.2. Client Consent: By entering into this Agreement, you consent and authorize Forexiti to manage transactions in any manner deemed appropriate, even where a conflict of interest or material interest exists, without the need for prior reference to you.
14.1. Payment Obligations: You are responsible for paying all commissions, charges, and costs as outlined in the Trading Conditions available on Forexiti’s website or platform. Additional fees, such as account maintenance or inactivity fees, will also be displayed online.
14.2. Changes to Costs: Forexiti reserves the right to adjust commissions, charges, spreads, and other costs. Where required, Forexiti will provide sufficient notice in compliance with applicable regulatory standards. Changes will be communicated through the company’s news page or the Trading Conditions webpage.
14.3. Disclosure of Profits: Forexiti is not obligated to disclose or account to you for any profits, benefits, commissions, or other remuneration earned from transactions, unless explicitly agreed in this Agreement or required by applicable regulations.
14.4. Third-Party Payments: You acknowledge and accept that Forexiti may make payments to third parties, such as affiliates or introducing brokers, to establish, maintain, or enhance client relationships. Such payments may include rebates, commissions, widened spreads, performance fees, management fees, or profit sharing.
14.5. Deductions: All amounts due under this Agreement will be deducted from the balance held by Forexiti in your trading account.
14.6. Cost Recovery: You are liable for any reasonable costs and expenses incurred by Forexiti due to:
14.6.1. Your failure to pay amounts owed in a timely manner.
14.6.2. Forexiti’s enforcement of its rights under this Agreement.
14.7. Late Payments: If you fail to pay any amounts owed on time, Forexiti may charge interest at a rate of 4% above the prevailing base rate of a major financial institution. Interest will accrue until full payment is made and may apply before and after any judgment.
15.1. Currency Conversions: Forexiti reserves the right to conduct currency conversions necessary to fulfill its obligations or exercise its rights under this Agreement or any transaction. Conversions will be executed at rates determined by Forexiti, considering prevailing rates for freely convertible currencies.
15.2. Foreign Exchange Risk: You bear all foreign currency exchange risks arising from any transaction, as well as from Forexiti’s compliance with its obligations or the exercise of its rights under this Agreement.
16.1. Indicative Quotes: Forexiti may provide indicative quotes via its Trading Platform. These quotes reflect market conditions at the time of display but do not constitute an offer to buy or sell any product or instrument. Quotes are subject to volatility and market fluctuations.
16.2. Out-of-Hours Execution: Forexiti may, at its discretion, execute your instructions outside the normal trading hours specified for a particular product or instrument. However, there is no obligation to do so.
16.3. Spread Adjustments: Spreads for each instrument are displayed on the Forexiti website. Spreads may change without notice during periods of excessive market volatility or other conditions affecting the underlying market.
16.4. Discretionary Quotes: While Forexiti considers underlying asset prices, the quotes provided may differ from those in the underlying market and are determined at the Company’s discretion. Quotes provided outside regular market hours are reflective of the Company’s assessment of the relevant bid and ask prices.
16.5. Execution Delays: During periods of excessive market volatility, order execution may be delayed to ensure valid processing. Forexiti reserves the right to cancel any trade confirmed at an incorrect price or due to latency issues.
16.6. Prohibited Actions: The following actions are strictly prohibited on Forexiti’s systems, Trading Platform, or client accounts:
16.6.1. Using unauthorized software, including tools with artificial intelligence, to analyze or interact with Forexiti systems or platforms.
16.6.2. Intercepting, monitoring, or modifying communications not intended for you.
16.6.3. Deploying malicious code (e.g., viruses, worms, Trojans) designed to disrupt or damage the platform or communication systems.
16.6.4. Sending unsolicited commercial communications in violation of applicable laws or regulations.
16.6.5. Actions that compromise the integrity of Forexiti’s systems, including causing malfunctions or operational disruptions.
16.6.6. Attempting to unlawfully access, reverse-engineer, or bypass security measures applied to the Trading Platform.
16.6.7. Engaging in irregular or unauthorized use of the platform.
16.6.8. Sending excessive server requests that cause delays in execution time.
16.6.9. Participating in abusive trading practices.
16.7. Consequences of Prohibited Actions: If Forexiti suspects a breach of clause 16.6, the Company reserves the right to amend, delete, or cancel any applicable order or position on your trading account. Clients must adhere to ethical trading practices and indemnify Forexiti against any damages or losses resulting from such breaches.
17.1. Placing Orders:
17.1.1. Orders must be placed via Forexiti’s Trading Platform during usual trading hours (details available on the website). Access requires your username and password.
17.1.2. Orders placed after receiving a quote reflect the then-current rate. The offered rate may differ from the initial quote.
17.1.3. Orders are valid only upon confirmation via the Trading Platform. Unconfirmed orders do not constitute a binding agreement.
17.1.4. While Forexiti offers mobile trading applications, connectivity and performance may vary based on your device, internet service provider, and location. For optimal performance, clients should prioritize using desktop platforms.
17.2. Alternative Order Placement: In the event of platform unavailability, orders may be placed over the phone during normal trading hours. Verification will require your account details and additional security information. Forexiti does not verify voice recognition.
17.3. Trade Offers: To place a trade, you must offer to "Sell" at the Bid Price or "Buy" at the Ask Price. Once accepted, offers cannot be reversed. Forexiti reserves the right to decline offers for reasons including but not limited to:
17.3.1. Breach of the Agreement, regulations, or applicable laws.
17.3.2. Price movements during offer acceptance.
17.3.3. Inappropriate trade size.
17.3.4. Outstanding account balances or unmet margin requirements.
17.3.5. Insolvency or mental incapacity.
17.3.6. Commercial impracticality or force majeure events.
17.3.7. Forexiti determines the trade is not suitable for you.
17.4. Order Management:
17.4.1. Pending orders older than one month may be deleted.
17.4.2. Forexiti reserves the right to amend or delete positions based on errors or breaches of clause 16.6.
17.5. Dispute Resolution: Forexiti may address disputes by crediting or debiting accounts, re-opening or deleting positions, or taking other appropriate actions in good faith and market practice.
17.6. Recordings and Monitoring: All communications with Forexiti dealers, including telephone calls, are recorded for training or dispute resolution purposes.
17.7. Client Responsibilities: Clients must ensure the legality of their trading activities based on their location. If platform communication is interrupted, clients must confirm trade status via telephone.
17.8. Invalid Methods: Trades or instructions cannot be placed via voicemail, email, or other unauthorized channels.
17.9. Trade Confirmation: For phone trades, confirmation will be provided during the call. Clients must address any discrepancies immediately.
18.1. Closing Long and Short Positions: You may close a long position by selling at the bid (lower) price and a short position by buying at the ask (higher) price.
18.2. Trading Hours: Positions can typically be closed at any time during Forexiti’s normal trading hours. Details are available in the Trading Conditions section of our website.
18.3. Market Conditions: In certain market conditions, it may not be possible to close positions of significant size at the requested price. In such cases, positions may be closed at a price deemed reasonable by Forexiti in light of prevailing market conditions.
18.4. Multiple Positions: If you hold multiple positions in the same market, they will generally be closed independently based on your instructions unless Forexiti has agreed otherwise with you.
18.5. Disputed Positions: While a dispute regarding a position is under consideration, you will be unable to manage that position. Forexiti will not accept complaints regarding this limitation during the dispute resolution process.
19.1. Currency Conversion: Any amounts payable under this Agreement are converted into the currency of your Trading Account using the relevant exchange rate for spot dealings in the foreign exchange market.
19.2. Net Payment Obligations:
19.2.1. If the amounts payable by both parties are equal, the obligations to pay are automatically satisfied and discharged.
19.2.2. If one party owes a greater amount, the party with the larger obligation will pay the difference, and all other payment obligations are automatically discharged.
19.3. Inclusion of Costs: Your payment obligations include all commissions, charges, and costs determined by Forexiti.
20.1. Initial and Necessary Margin: You must provide and maintain sufficient Initial Margin and/or Necessary Margin as required by Forexiti. Ensure you understand how Margin is calculated. Contact Forexiti’s client services team for clarification if needed.
20.2. Margin for Open Positions: Margin is due for each opening order and must be maintained for all open positions. Margin requirements for instruments are available on Forexiti’s website.
20.3. Margin Adjustments with Notice: Forexiti reserves the right to change Margin requirements with at least five business days' prior written notice.
20.4. Emergency Margin Adjustments: Forexiti may change Margin requirements without prior notice in cases of Force Majeure Events or Market Disruption Events.
20.5. Application of Adjusted Margins: Amended Margin requirements apply to both existing open positions and future positions.
20.6. Opposing Positions: Forexiti may permit opposing positions (long and short) in the same instrument but reserves the right to require sufficient funds to cover the Margin requirements for both positions.
20.7. Sufficient Funds: You must ensure your account maintains sufficient cleared funds to meet Margin requirements. Failure to meet these requirements may result in the automatic closure of some or all open positions without prior notice. Positions are closed sequentially, starting with those incurring the greatest losses, until the equity-to-margin ratio reaches at least 50%.
20.8. Client Notification: Notify Forexiti immediately if you anticipate being unable to meet a Margin payment when due.
20.9. Margin Calls: Forexiti reserves the right to make Margin calls but is not liable for any failure to contact or attempt to contact you regarding a Margin call.
21.1. Deposits: You may deposit funds into your Trading Account at any time. Deposits are accepted only through debit/credit cards, e-wallets, or bank transfers from your personal account. Third-party or anonymous payments will not be accepted under any circumstances.
21.2. Withdrawals: You may withdraw funds from your Trading Account at any time, subject to the conditions outlined in clause 21.4.
21.3. Withdrawal Process: Withdrawal requests will be processed within two to five Business Days after acceptance, provided the following conditions are met:
21.3.1. The withdrawal instruction contains all necessary information.
21.3.2. The withdrawal is to your personal bank account (payments to third-party or anonymous accounts are strictly prohibited).
21.3.3. No regulatory or legal issues are preventing the withdrawal.
21.3.4. The withdrawal amount does not exceed the available Equity in your Trading Account, less Necessary Margin and any applicable fees or charges.
21.3.5. No Force Majeure Event is preventing Forexiti from processing the withdrawal.
21.4. Payment Charges: All applicable payment charges will be debited from your Trading Account.
21.5. Excess Obligations: If you owe an amount exceeding your Trading Account Balance, you must promptly pay the excess amount upon the obligation arising.
21.6. Payment Methods: Payments are typically processed via bank transfer. Forexiti reserves the right to charge a transfer fee for payments made using debit/credit cards or e-wallets.
21.7. Processing Deposits: For payments made via bank transfer, credit card, or other electronic methods, funds will be credited to your Trading Account within one Business Day of notification from the payment processor.
21.8. Unpaid Obligations: If cleared funds are insufficient in your Trading Account to cover due amounts, Forexiti reserves the right to close out open positions and take other default remedies as outlined in clause 26 of this Agreement.
21.9. Currency for Payments: Payments can be made in US Dollars, Euros, or British Pounds Sterling. If the payment currency differs from your Trading Account’s currency, Forexiti will convert the amount at a rate determined by the Company.
21.10. Late Payments: Unpaid amounts will accrue interest at the Applicable Rate plus 4% per annum for each day the amount remains unpaid. All debts are legally enforceable.
21.11. Formal Requests: Withdrawal requests must be submitted formally. Details of the process can be found on Forexiti’s website.
21.12. Same-Day Transfers: The cutoff time for same-day transfer requests is 12:00 GMT.
21.13. Internal Transfers: If you hold multiple Trading Accounts with Forexiti, you may request an internal transfer of funds between accounts. Forexiti reserves the right to approve or deny such requests at its sole discretion.
22.1. Account Consolidation: If Forexiti closes your Transactions or your Trading Account, we may consolidate funds in your Trading Account with any other accounts you hold with us.
22.2. Set-Off Across Accounts: If you hold multiple Trading Accounts with positive balances and have outstanding amounts due to Forexiti, we may debit funds from one or more of your accounts to offset the owed amounts.
22.3. Single Payment Consolidation: Forexiti reserves the right to consolidate all payment obligations into a single net payment. This applies regardless of the currency of your Trading Accounts and may result in either a net payment to you or a net payment from you to Forexiti.
23.1. Regulatory Compliance: Nothing in this Agreement excludes or restricts any obligations or liabilities we owe to you under applicable regulatory rules or laws. Similarly, no provision requires you to indemnify Forexiti in a way that violates regulatory standards.
23.2. Liability Limitations: Subject to clause 23.1, Forexiti is not liable for any loss, damage, expense, claims, or liabilities you may incur, directly or indirectly, arising from:
23.2.1. Errors, interruptions, or technical failures on the Trading Platform, including those caused by your terminal, system malfunctions, communication failures, or internet traffic issues.
23.2.2. Force Majeure Events, Manifest Errors, Market Disruption Events, or other circumstances beyond our control.
23.2.3. Acts, omissions, or negligence by third parties, including external software providers, signal providers, or social trading platforms.
23.2.4. Unauthorized use of your Access Data before you report such misuse to Forexiti.
23.2.5. Unauthorized access to personal data, electronic communications, or Access Data due to network communication issues.
23.2.6. Risks identified in the Risk Disclosure and Warnings Notice.
23.2.7. Currency fluctuations or exchange rate risks.
23.2.8. Changes in tax rates.
23.2.9. Slippage during order execution.
23.2.10. Your reliance on functions such as Trailing Stops, Expert Advisors, or Stop Loss Orders.
23.2.11. Trading under abnormal market conditions.
23.2.12. Acts or omissions (including negligence or fraud) by you or your Authorized Representative.
23.2.13. Your or your Authorized Representative’s trading decisions.
23.2.14. Orders placed using your Access Data.
23.2.15. The accuracy, completeness, or correctness of communications on the Trading Platform.
23.2.16. Losses arising from Social Trading activities (if applicable).
23.3. Information Disclaimer: Forexiti does not guarantee the accuracy, correctness, or completeness of any information, recommendations, news, market commentary, or research provided. We are not liable for losses arising from reliance on such information unless caused by fraud, willful default, or gross negligence
23.4. Indemnification: You agree to indemnify Forexiti against all liabilities, costs, claims, demands, and expenses resulting from your failure to fulfill your obligations under this Agreement.
23.5. Agreement to Limitations: By opening an account and trading with Forexiti, you accept the limitations of liability and indemnity provisions in this Agreement. Forexiti does not carry insurance for liabilities excluded or limited by this clause. If these provisions are unacceptable, you should not open or maintain an account with Forexiti.
24.1. Filing a Complaint: Complaints or disputes regarding services provided under this Agreement must be reported to Forexiti’s Customer Services department within 24 hours of the incident. You can file a complaint by completing the “Complaints Form” available on the Forexiti website and submitting it via email. Complaints are handled in accordance with Forexiti’s complaint procedures, which are summarized on the website and available in full upon request. If you are dissatisfied with the outcome, you may escalate the complaint to the relevant regulatory authority.
24.2. Trade Confirmation Responsibility: You are responsible for monitoring your trading positions and reviewing statements, contract notes, and trade confirmations. If any discrepancies are identified, you must contact Forexiti immediately. Failure to receive a confirmation does not absolve you from responsibility; you must notify Forexiti promptly.
24.3. Restricted Trading During Disputes: Forexiti reserves the right to refuse new positions, orders, or trading instructions—except for instructions to close positions—while there is an unresolved dispute regarding any trade or trading issue on your account.
24.4. Legal Rights: Your legal right to pursue action is not affected by the existence or use of Forexiti’s complaints procedures.
25.1. Methods of Communication: Forexiti may provide notices and communicate with you under this Agreement using your registered contact details through:
25.1.1. In-person communication.
25.1.2. Trading Platform internal mail.
25.1.3. Email, telephone, SMS text, or live chat.
25.1.4. Post.
25.1.5. Information published on the Forexiti website, which will constitute "Written Notice" for the purposes of this Agreement.
25.2. Deemed Delivery:
25.2.1. Emails are deemed served within one hour of sending unless a delivery failure notification is received. SMS texts and live chat messages are deemed served immediately.
25.2.2. Messages via the Trading Platform internal mail are deemed served immediately.
25.2.3. Notices sent by post are deemed served seven calendar days after posting.
25.2.4. Notices posted on the Forexiti website are deemed served within one hour of posting.
25.3. Business Hours: For the purpose of clause 25, "Business Hours" are between 9:00 a.m. and 5:30 p.m. GMT on Business Days.
25.4. Language of Communication: All communications will be conducted in English. Translations provided are for convenience only, and the original English version will prevail.
25.5. Contact Information: You must promptly notify Forexiti of any changes to your contact details.
25.6. Transaction Confirmations: Transactions will be confirmed via email by the next Business Day after execution.
25.7. Monthly Statements: Where applicable, Forexiti will provide a monthly statement summarizing all Transactions during the previous month.
25.8. Call Recordings: Telephone conversations may be recorded. Instructions or requests received via telephone will be binding as if provided in writing. Recorded communications remain the sole property of Forexiti and may serve as conclusive evidence in case of disputes.
26.1. Termination by Either Party: Either party may terminate this Agreement with immediate effect by providing at least 15 days' Written Notice.
26.2. Effect of Termination: Upon termination, Forexiti may close any or all open positions without prior notice and refuse to accept new positions.
26.3. Outstanding Obligations: Termination does not affect any outstanding obligations related to open positions, legal rights, or obligations arising under the Agreement or related transactions.
26.4. Access to Trading Platform: Upon termination, access to the Trading Platform will be revoked. All amounts owed by you to Forexiti will become immediately due and payable.
26.5. Settlement of Balances: Forexiti will pay any amounts due to you, subject to applicable charges, fees, and set-off rights.
26.6. Termination by Forexiti: Forexiti reserves the right to terminate this Agreement and close your account (including any joint accounts) under the following circumstances:
26.6.1. Material breach of the Agreement by you.
26.6.2. Failure to meet Margin requirements.
26.6.3. Non-payment of any amounts due within five Business Days.
26.6.4. Dishonored payments or failed payment methods.
26.6.5. Suspected inability to meet payment obligations.
26.6.6. Insolvency or bankruptcy.
26.6.7. Death or incapacitation.
26.6.8. Concerns regarding compliance with applicable laws or regulations.
26.6.9. Insufficient understanding of trading products.
26.6.10. Suspected involvement in fraudulent, illegal, or criminal activities.
26.6.11. Misrepresentation or provision of false information.
26.6.12. Rude or offensive behavior toward Forexiti employees or representatives.
26.7. Amendments to the Agreement: Forexiti reserves the right to amend the Agreement. Notice of changes will be provided where required by applicable regulations.
27.1. Data Collection: Forexiti may collect, use, store, or process your personal information obtained directly from you or other sources, including credit reference agencies, fraud prevention agencies, banks, financial institutions, authentication service providers, and public registers.
27.2. Confidentiality: Client information is treated as confidential and is used solely for providing, administering, and improving services; conducting anti-money laundering and due diligence checks; research and statistical purposes; and marketing. Information already in the public domain or possessed by Forexiti without a duty of confidentiality will not be considered confidential.
27.3. Legal Framework: Forexiti operates in compliance with applicable data protection laws.
27.4. Disclosure of Information: Forexiti may disclose client information (including recordings and confidential documents) under the following circumstances:
27.4.1. As required by law or court order.
27.4.2. When requested by relevant regulatory authorities overseeing Forexiti’s operations.
27.4.3. To prevent fraud, money laundering, or other illegal activities.
27.4.4. To execute client orders and ancillary services.
27.4.5. To credit reference and fraud prevention agencies, authentication providers, banks, and financial institutions for due diligence.
27.4.6. To professional advisors bound by confidentiality obligations.
27.4.7. To service providers aiding in data processing, record-keeping, email communication, or related services.
27.4.8. To Financial Intelligence Units when legally required.
27.4.9. To service providers for statistical analysis, provided the data is aggregated.
27.4.10. To market research firms conducting surveys to improve Forexiti’s services.
27.4.11. To defend or exercise Forexiti’s legal rights in court or before regulatory bodies.
27.4.12. At your request or with your consent.
27.4.13. To affiliates or group entities.
27.4.14. To successors, assignees, or transferees with prior written notice.
27.5. Access to Personal Data: Forexiti will process personal information in compliance with applicable data protection laws. Clients may request access to personal data for an administrative fee.
27.6. Consent for Data Transmission: By entering this Agreement, you consent to the transmission of your personal data in accordance with applicable laws.
27.7. Call Recording: Telephone conversations may be recorded and will remain the sole property of Forexiti. Such recordings may serve as conclusive evidence in disputes.
27.8. Direct Contact: Forexiti may contact you directly to administer the Agreement.
27.9. Marketing Communication: Forexiti or its affiliates may contact you for marketing purposes via phone, email, or post. Marketing communications will only be sent with your consent if you are a natural person.
27.10. Record Retention: Forexiti will retain records, including personal data, trading information, account opening documents, and communications, for at least six years after the Agreement’s termination.
28.1. Client Representations: You represent and warrant the following upon submitting your application and each time you provide instructions or requests:
28.1.1. The information provided in the Application Form and Agreement is accurate, complete, and up-to-date.
28.1.2. You have read and understood the Agreement, including the Risk Disclosure Notice.
28.1.3. You are authorized to enter into this Agreement and fulfill its obligations without violating applicable laws or agreements.
28.1.4. You possess full legal capacity, are of sound mind, and can take responsibility for your actions.
28.1.5. You act as Principal, not as an agent, trustee, or custodian for another party unless explicitly agreed with Forexiti.
28.1.6. If applying on behalf of a company, the applicant is duly authorized to act for the company.
28.1.7. Your actions comply with applicable laws and regulations, including those in your jurisdiction.
28.1.8. Funds used for trading are not derived from illegal activities and are not intended for terrorist financing.
28.1.9. You are not a Politically Exposed Person (PEP) or connected to a PEP, unless disclosed during the account opening process.
28.1.10. You confirm regular access to the internet and consent to receiving information, including updates to terms, via Forexiti’s website or email.
29.1. Definition and Notification: Forexiti may, at its reasonable discretion, determine that a Force Majeure or Market Disruption Event has occurred or is ongoing. Forexiti will take reasonable steps to notify you of such an event. These events may include, but are not limited to:
29.1.1. Acts, events, or occurrences beyond reasonable control, such as strikes, industrial actions, riots, terrorism, war, natural disasters (acts of God), power outages, equipment or communication failures, government regulations, or other disruptions that prevent maintaining an orderly market.
29.1.2. Suspension, liquidation, closure, excessive market volatility, or imposition of unusual trading conditions in the relevant market or underlying Instrument.
29.1.3. Other circumstances outside of Forexiti’s control that prevent reasonable action to mitigate disruption.
29.2. Actions During Force Majeure: In the event of a Force Majeure or Market Disruption Event, Forexiti may, without prior written notice, take any of the following actions:
29.2.1. Adjust spreads, lot sizes, and margin requirements.
29.2.2. Modify open Orders or positions.
29.2.3. Close any or all open positions at prices deemed appropriate under prevailing conditions.
29.2.4. Cancel or execute pending Orders.
29.2.5. Refuse to accept new Orders.
29.2.6. Suspend trading for specific markets or Instruments.
29.2.7. Void trades based on third-party price sources if those prices or trades are subsequently canceled.
29.2.8. Demand immediate payment of Margin or other amounts owed.
29.2.9. Suspend or modify the Agreement’s terms to the extent necessary due to the Force Majeure Event.
29.2.10. Take any other actions deemed reasonably appropriate under the circumstances.
30.1. Client Responsibility: You are solely responsible for obtaining tax advice and complying with applicable local tax laws. Forexiti recommends that you seek independent tax advice regularly.
30.2. Liability: Forexiti is not liable for any taxes owed by you to local or other tax authorities and is not obligated to withhold taxes unless required by applicable laws.
30.3. No Tax Advice: Forexiti does not provide tax advice related to Transactions or any other matters under this Agreement.
31.1. Account Suspension: Forexiti reserves the right to suspend your Trading Account at any time, with or without prior written notice.
31.2. Unforeseen Situations: If an issue arises that is not addressed in this Agreement, Forexiti will act in good faith, applying principles of fairness and, where relevant, market practices.
31.3. Waivers and Rights: Failure or delay in exercising any rights, powers, or remedies by Forexiti shall not constitute a waiver of those rights or preclude further exercise of those rights.
31.4. Discretionary Relief: Forexiti may release, postpone, or waive any liabilities under the Agreement at its discretion without affecting its rights regarding other liabilities or breaches.
31.5. Cumulative Rights: The rights and remedies available to Forexiti under this Agreement are cumulative and do not exclude any rights available under law.
31.6. Assignment by Forexiti: Forexiti may assign or transfer its rights and obligations under this Agreement to a third party. Such assignment will take effect 10 Business Days after notice to you.
31.7. Severability: If any term of this Agreement is found to be unenforceable, it will be severed without affecting the enforceability of the remaining terms.
31.8. Client Restrictions: You may not assign, transfer, or charge your rights or obligations under this Agreement without Forexiti’s prior written consent.
32.1. Applicable Law: This Agreement is governed by and construed in accordance with the laws applicable to Forexiti’s jurisdiction.
32.2. Jurisdiction: You irrevocably agree that:
32.2.1. The courts in Forexiti’s jurisdiction shall have exclusive authority over disputes.
32.2.2. You submit to the jurisdiction of such courts.
32.2.3. You waive objections to proceedings being brought in these courts, including claims of inconvenience or lack of jurisdiction.
32.2.4. Any proceedings shall be conducted in accordance with the laws of Forexiti’s jurisdiction.
All references to statutory provisions in this Agreement shall include:
33.1. Any statutory modification, consolidation, or re-enactment of the provision, whether made before or after the date of this Agreement, as long as it is in force at the relevant time.
33.2. All statutory instruments, regulations, or orders issued pursuant to such provisions.
33.3. Any statutory provision that the referenced provision modifies, consolidates, or re-enacts.
33.4. Interpretation: Unless otherwise stated, the following rules of interpretation apply:
33.4.1. Words denoting the singular include the plural and vice versa.
33.4.2. Words denoting a gender include all genders.
33.4.3. References to persons include individuals, firms, partnerships, companies, corporations, associations, organizations, trusts, and public bodies.
33.4.4. Clause headings are for convenience only and do not affect the interpretation of this Agreement.
33.4.5. Where examples are provided, they are illustrative and not exhaustive.
33.4.6. References to “this Agreement” include all clauses, schedules, appendices, and any amendments or updates to them.
33.4.7. Any inconsistency between this Agreement and applicable regulations will be resolved in favor of the regulations.
"Affiliate": Shall mean in relation to the Company, any entity controlled.
"Agreement": Is defined in clause 1.
"Applicable":
(a) Federal Funds rate, if the Currency of the Trading Account is US dollars;
(b) Bank of England Official Bank Rate, if the Currency of the Trading Account is Great British pounds;
(c) Key European Central Bank (repo) Interest Rate, if the Currency of the Trading Account is euros;
(d) Swiss National Bank Key Interest Rate, if the Currency of the Trading Account is Swiss francs;
(e) Bank of Japan’s Target Rate, if the Currency of the Trading Account is Japanese Yen;
(f) Reserve Bank of Australia Cash Rate, if the Currency of the Trading Account is Australian dollars.
"Application Form": Means the application form to open an online trading account completed by you and accessed through the website.
"Ask Price": Shall mean the higher price in a quote being the price at which you may buy.
"Balance": In relation to the Trading Account, means the financial position once all Completed Transactions, deposits, and withdrawals have been accounted for.
"Base Currency": Shall mean the first currency in a Currency Pair.
"Bid": Shall mean the lower price in a quote being the price at which you may sell.
"Business Day": Shall mean any day between Monday and Friday inclusive on which clearing banks are open in Mauritius.
"Clearing Requirement": Shall mean your own determination as to whether it is subject to mandatory clearing obligations.
"Client Terminal": Shall mean any of the Company’s trading programs used by you in order to obtain information on financial markets in real-time, perform technical analysis, conduct Transactions, place/modify/delete orders, as well as receive notices from the Company.
"Completed Transaction": Shall mean two counter deals of the same size (opening a position and closing a position): buy then sell and vice versa.
"Contract for Difference": Shall mean a contract which is a contract for difference by reference to fluctuations in the price of the underlying asset (including but not limited to shares, futures, metals, or indices).
"Currency Pair": When quoting and pricing currencies traded in the foreign exchange market, the value of a currency is determined by its comparison to another currency. The first currency of a currency pair is the 'Base Currency', and the second currency is the 'Quote Currency'.
"Dealer": Shall mean the Server or an employee of the Company who is authorized to process the Customer’s Instructions and Requests and execute Orders and Stop Outs.
"Dispute": Shall mean either:
(a) A conflict situation where you reasonably believe that the Company, as a result of any action or failure to act, breaches one or more terms of the Agreement; or
(b) A conflict situation where the Company reasonably believes that the Client breaches one or more terms of the Agreement; or
(c) A conflict situation where you make a deal at an Error Quote (Spike) or due to software failure.
"Eligible Counterparty": Shall mean an “Eligible Counterparty” for the purposes of applicable rules.
"Equity": Shall mean: Balance + Floating Profit - Floating Loss.
"Error Quote (Spike)": Shall mean a price, or series of prices, which are subsequently determined to be unrepresentative of the actual market valuation of an asset/product.
"FSC": Shall mean the Financial Services Authority.
"FSC Rules": Shall mean the FSC’s Handbook of Rules and Guidance.
"Floating Profit/Loss": Shall mean current profit/loss on Open Positions calculated at the current price.
"Force Majeure Event": Shall have the meaning as set out in clause 29.
"Initial Margin": Shall mean the margin required by the Company to open a position, reflecting the deposit of funds or collateral as security for payment of losses.
"Instrument": Shall mean any Contract for Difference in Currency Pairs, Metals, Equity Indices, Metals, and Commodities.
"Leverage": Expressed as a ratio of the Transaction Size against the margin requirements. For example, 1:100 ratio means that the Initial Margin is one hundred times less than the Transaction Size.
"Long Position": Shall mean a buy position that appreciates in value if market prices increase.
"Lot": Shall mean a unit of Securities, Base Currency, or troy ounce of Precious Metal in the Trading Platform.
"Lot Size": Shall mean the number of shares, underlying assets, or units of Base Currency, or troy ounce of Precious Metal in one Lot.
"Market Opening": Shall mean the time at which the market opens after weekends, holidays, or trading session time gaps.
"Necessary Margin": Shall mean the margin required to maintain Open Positions, allocated as a margin deposit to cover fluctuations in market movements.
"Open Position": Shall mean a Long Position or a Short Position which is not a Completed Transaction.
"Pending Order": Shall mean an instruction to open or close a position once the price reaches the level of the order.
"Professional Client": Shall mean a “Professional Client” for the purposes of applicable rules.
"Quote": Means the second currency quoted in a Currency Pair.
"Relevant Amount(s)": Shall mean any available Equity in your Trading Account not used for margin purposes.
"Retail Client": Shall mean a “Retail Client” for the purposes of applicable rules.
"Segregated Account": Shall mean a client bank account defined by and held in accordance with applicable rules.
"Segregated Funds": Shall have the meaning as set out in clause 9.
"Server": Shall mean the relevant Server trading program in use by you.
"Services": Shall mean the services provided by the Company to you as set out in clause 11.
"Short Position": Shall mean a sell position that appreciates in value if market prices fall.
"Spread": Shall mean the difference between Ask and Bid.
"Trading Account": Shall mean the unique registration system of all Completed Transactions, Open Positions, orders, and deposit/withdrawal transactions in the Trading Platform.
"Trading Platform": Shall mean all programs and facilities providing real-time quotes, allowing Transactions to be executed and calculating obligations between the Client and the Company.
"Transaction": Shall mean any contract or transaction entered into or executed by the Client.
"Transaction Underlying Market": Shall mean the market where the underlying asset for CFD is traded.
"Website": Shall mean the Company’s website or any other public website maintained by the Company.
"Written Notice": Shall have the meaning set out in clause 25.