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Terms of Business

1. Introduction
1.1. These Terms of Business govern all actions in regard to the execution of the Customer’s
Instructions.
1.2. These Terms of Business specify:
a) principles of opening/closing positions and placing/modifying/deleting/executing Orders;
b) the Company’s actions in regard to the Customer’s Open Positions in case the Margin
Level of the Trading Account is insufficient to support Open Positions; and
c) procedures of Dispute resolution and the methods of communication between the
Customer and the Company.
1.3. These Terms of Business, the Customer Agreement and the Risk Acknowledgement and
Disclosure shall govern all the Customer’s Transactions and should be read carefully by the
Customer.
1.4. Unless otherwise defined, capitalized terms used in these Terms of Business shall have
the meaning given to such terms in the Customer Agreement. In addition, the definitions set
out in clause 10 (“Interpretation of Terms”) shall apply.

2. General Terms Quotes
2.1. The Company will recalculate Quotes for all Instruments in real time, based on market
conditions and streaming prices/liquidity received from Liquidity Providers, and will
periodically send to the Customer some of these Quotes as Market Snapshots.
2.2. Client shall receive quotes through his/her Client Terminal in MyFXTM. All Quotes shall
represent the best possible available Bid and Ask price on the market at the time, as this may
be provided by the Company’s Liquidity Provider(s).

The Client understands and accepts herein that such quotes, as these may be represented by
the Company, are considered correct and valid as provided by the Company’s Liquidity
Provider(s). The Client further understands and accepts herein that such quotes may vary
significantly for the following, but not limited, reasons:
a) due to the different Client Account Type(s); and/or
b) due to market prevailing conditions; and/or
c) due to Over the Counter (OTC) decentralised market(s).
2.3. The Customer acknowledges that:
a) the Company has the right not to send to the Customer those Quotes that have
not changed since the previous Market Snapshot;
b) the Customer may not receive through the Client Terminal all the Quotes that have
been in the Quotes Flow between Market Snapshots; and
c) Spread is not fixed and will vary depending on market conditions and streaming
prices/liquidity received by the Company from Liquidity Providers.
Execution of the Customer’s Instructions
2.4. The procedure for handling the Customer’s Instructions given through the Client
Terminal is:
a) the Customer prepares an Instruction and the Client Terminal checks if it is valid;
b) the Client Terminal sends the Instruction to the Server;
c) if the connection between the Client Terminal and the Server has not been disrupted,
the Server receives the Instruction and starts the process of verification;
d) a valid Customer’s Instruction is placed in the queue and sorted by arrival time (first in
– first out) and the “Order is accepted” status appears in the “Order” window in the
Client Terminal;
e) as soon as a Dealer is ready to handle a new Instruction the Dealer takes the
first Instruction from the queue and processes it* and the “Order is in process” status
appears in the “Order” window in the Client Terminal;
f) the Server receives from the Dealer the result of the Customer’s Instruction execution
process;
g) the Server sends the Client Terminal the result of the Customer’s Instruction execution
process; and
h) the result of the Instruction execution is received by the Client Terminal if the
connection between the Client Terminal and the Server has not been disrupted.
2.5. The Customer has the right to cancel a previously given Instruction only if the
Instruction has the “Order is accepted” status. In order to cancel it, the Customer shall press
the “Cancel order” button. The Customer cannot cancel an Instruction given by an Expert
Advisor.
2.6. If the Instruction is being processed by a Dealer and its status is “Order is in process”,
the Customer has no right to cancel it.
2.7. The Company at its sole discretion will specify the current market price.
2.8. The standby time for each Instruction which has been placed in the queue in order to
be executed has a limit of 3 (three) minutes at the time of the release of Terms of Business.
If during this period of time, the Instruction has not been received by a Dealer, it is deemed
to be irrelevant and automatically deleted. Once an Instruction is received by a Dealer, the
Dealer processes it as soon as practicably possible.
*Depending on the amount of time a Dealer needs to process an Instruction there is a possibility that in the Server
Log‐File the recorded execution time of the first Instruction in the queue will be later than the execution time of the
Instruction which followed after.
2.9. In the circumstances listed below, the Company may decline an Instruction (the “Off
quotes” message will appear in the Client Terminal in this case) if the:
a) Instruction precedes the first Quote in the Trading Platform on the Market Opening;
b) Company is not able to hedge the trade with a Liquidity Provider; or
c) Customer’s Free Margin is less than the Initial Margin.
2.10. The Client shall only give Instructions through the Client Terminal. To avoid problems
associated with the inability to open or close positions, we recommend using Pending
Orders such as Stop Loss and Take Profit.
Transactions
2.11. The Ask price is used to make a “buy” Transaction. The Bid price is used to make a
“sell” Transaction:
a) The Ask price is used to open a Long Position. The Bid price is used to open a Short
Position.
b) The Bid price is used to close a Long Position (i.e. sell). The Ask price is used to close
a Short Position (i.e. buy).

Rollovers

2.12. All the positions which remain open from 23:59:45 to 23:59:59 (Server time) will be
subject to rollover. All the positions which are opened or closed from 23:59:45 to 23:59:59
(Server time) may be subject to rollover. The positions will be rolled over by debiting or
crediting the Customer’s Trading Account with the amount calculated in accordance with
the Contract Specifications.

Quotes Base Synchronization

2.13. In case of an unforeseen break in the Quotes Flow caused by software or hardware
failure, the Company has the right to synchronize the Quotes Base on the live Server from
other sources. Such sources include:
a) Quotes Base on the demo Server;
b) any other reliable sources*.
In the case of any Disputes arising in regard to the break in Quotes Flow, all decisions are
made in accordance with the synchronized Quotes Base.
Leverage
2.14. The size of the Leverage depends on the Customer’s Open Positions as described on
the Company’s Trading Terms Webpage.
*If necessary information is not available on the demo Server.
2.15. The Company has the right to change the Leverage of the Trading Account in
accordance with margin requirements with immediate effect without giving prior notice.
2.16. The Company is entitled to apply new margin requirements amended in accordance
with clause 2.15 to the new positions and to the positions which are already open.
2.17. The Company has the right to change the Leverage for a particular Customer at any
time and at its sole discretion with prior Written Notice. Any such amendment shall enter
into force upon notification of the client.

3. Opening a Position

3.1. In order to give an Instruction to open a position the Customer shall specify the
following:
a) Instrument; and
b) Transaction Size.
3.2. In order to open a position through the Client Terminal without using an Expert
Advisor, the Customer shall press the “Buy by Market” or “Sell by Market” button. The
Customer’s Instruction to open a position may be executed at a price that differs from the
Quote the Customer has received through the Client Terminal during the last Market
Snapshot in the following cases:
a) If the current Quote changes since the last Market Snapshot;
b) If the Quote from the last Market Snapshot is for a lower Transaction Size than
the Client’s Instruction Transaction Size.
In any case the Instruction will be executed at the best price available from the Company’s
Liquidity Providers.
3.3. When opening a position through the Client Terminal using an Expert Advisor, the
Customer is not able to specify Stop Loss and/or Take Profit Order levels. If the Customer
wishes to place these Orders, the Customer can do it by modifying the existing position in
accordance with clauses 5.16 to 5.22.
Processing and Execution of Instructions to Open a Position
3.4. Once the Server has received the Customer’s Instruction to open a position, it
automatically checks if the Free Margin is sufficient to open the position:
a) “Free Margin” is calculated as follows: Free Margin = Balance – New Margin + Floating
Profit – Floating Loss;
b) all Floating Profits/Losses for all Open Positions and the new position are calculated
at the current Quotes;
c) cumulative Customer positions and new Necessary Margin (“New Margin”) are
calculated for the Matched Positions depending on the Hedged Margin; for other
positions this is dependent on the Initial Margin, which is calculated at the average
weighted price (in terms of volume) of all positions except the matched ones;
d) if the above-mentioned calculations for the new position have been done and:
“Free Margin” is more or equal to zero, subject to clause 2.9, the position is opened.
The process of opening the position is followed by the relevant record in the Server
Log‐File; or
“Free Margin” is less than zero, then the Company has the right, but not obligation,
to decline the Instruction to open the position and the “No money” message will be
recorded in the Server Log‐File.
3.5. An Instruction to open a position shall be deemed executed and the position shall be
deemed open once the relevant record appears in the Server Log‐File.
3.6. In the Trading Platform, each Open Position has a Ticket.
3.7. An Instruction to open a position will be declined by the Company if it precedes the
first Quote in the Trading Platform on the Market Opening. In this case the “Off quotes”
message appears in the Client Terminal window.

4. Closing a Position
4.1. In order to give an Instruction to close a position, the Customer shall specify the
following:
a) Ticket; and
b) Transaction Size.
4.2. In order to close a position through the Client Terminal without using an Expert
Advisor, the Customer shall press the “Close by Market” button. The Customer’s Instruction
to close a position may be executed at a price that differs from the Quote the Customer has
received through the Client Terminal during the last Market Snapshot in the following
cases:
a) If the current Quote changes since the last Market Snapshot;
b) If the Quote from the last Market Snapshot is for a lower Transaction Size than
the Client’s Instruction Transaction Size.
In all instances, the Instruction will be executed at the best price available from the
Company’s Liquidity Providers.
Processing and Execution of Instructions to Close a Position
4.3. If amongst the Customer’s Open Positions the Customer has a position which he/she
wishes to close against a matching Open Position of the same Instrument, the Customer can
do so by using the “Close by” item in the “Type” drop down list. Upon matching/closing the
Customer’s chosen positions, the Customer will have either a zero or net Long/Short Position
based upon the net overall exposure. The Customer should note that the net overall
position will be allocated a new Ticket.
4.4. If amongst the Customer’s Open Positions the Customer has multiple positions which
he/she wishes to close against matching Open Positions of the same Instrument, the
Customer can do so by using the “Multiple Close by” item in the “Type” drop down list.
Upon matching/closing the chosen positions the Customer will have either a zero or net
Long/Short Position based upon the net overall exposure. The Customer should note that
the net overall position will be allocated a new Ticket.
4.5. An Instruction to close a position is deemed executed and the position is deemed
closed once the relevant record appears in the Server Log‐File.
4.6. An Instruction to close a position will be declined by the Company if the Instruction
precedes the first Quote on the Market Opening. In this case the “Off quotes” message
appears in the Client Terminal window.
4.7. An Instruction to close a position may be declined by the Company if it is made when
the Stop Loss or Take Profit for this position is in the queue in order to be executed. In this
case the “Off quotes” message appears in the Client Terminal window.

5. Orders

Order Types in the Trading Platform

5.1. In order to open a position the following Orders (Pending Orders) may be used:
a) “Buy Stop” ‐an Order to open a Long Position at the price higher than the price at
the moment of placing the Order;
b) “Sell Stop” ‐an Order to open a Short Position at the price lower than the price at
the moment of placing the Order;
c) “Buy Limit” ‐an Order to open a Long Position at the price lower than the price at
the moment of placing the Order;
d) “Sell Limit” ‐an Order to open a Short Position at the price higher than the price at
the moment of placing the Order.
5.2. In order to close a position the following Orders may be used:
a) “Stop Loss” ‐an Order to close a previously opened position at the price less profitable
for the Customer than the price at the moment of placing the Order;
b) “Take Profit” ‐an Order to close a previously opened position at the price more
profitable for the Customer than the price at the moment of placing the Order;
c) “If‐Done Order” ‐Stop Loss and/or Take Profit which are activated once the
Pending Order they are related to has been executed.
When and for How Long Orders can be Placed
5.3. The Customer may place, modify or delete Orders only within trading hours for the
relevant Instrument. The trading hours for each Instrument are indicated in the Contract
Specifications.
5.4. Pending Orders on the Instruments, which are traded 24 hours a day, have “GTC”
(“Good Till Cancelled”) status. The expiry date and time can be set by the Customer in the
“Expiry” field.
5.5. Pending Orders on the Instruments, which are not traded 24 hours a day, have “Day
Order” status and will be deleted at the end of a trading session.
5.6. Stop Loss and Take Profit for all Instruments have “GTC” (“Good Till Cancelled”) status.

The Procedure for Placing an Order

5.7. In order to give an Instruction to place a Pending Order, the Customer shall specify the
following required parameters:
a) Instrument;
b) Transaction Size;
c) Order type (Buy Stop, Buy Limit, Sell Stop, or Sell Limit); and
d) Order Level.

In addition, the Customer may indicate the following optional parameters:
a) level of Stop Loss. “0.0000” means that Stop Loss is not placed (or it is deleted if it
has already been placed);
b) level of Take Profit. “0.0000” means that Take Profit is not placed (or it is deleted if it
has already been placed); or
c) date and time when the Pending Order expires.
The Instruction will be declined if:
i. any of the required parameters is not specified or is incorrect; or
ii. any of the optional parameters is incorrect.
In this case, the “Invalid S/L or T/P” error message appears if the Orders are placed through
the Client Terminal without using an Expert Advisor.
5.8. If the Customer gives an Instruction to place Stop Loss or Take Profit, the following
information must be specified:
a) Ticket of the Open Position;
b) level of the Stop Loss; “0.0000” means that Stop Loss is not placed (or it is deleted if
it has already been placed); and
c) level of the Take Profit; “0.0000” means that Take Profit is not placed (or it is deleted if
it has already been placed).
If any of the information is incorrect and the Orders are placed through the Client Terminal
without using an Expert Advisor, the Instruction will be declined and the “Modify…” button
will remain inactive.
5.9. If the Customer gives an Instruction to place the If‐Done Orders on a Pending Order,
the Customer shall specify the following:
a) Ticket for the Pending which the Customer intends to place the Orders on;
b) level of the Stop Loss; “0.0000” means that Stop Loss is not placed (or it is deleted if
it has already been placed); and
c) level of the Take Profit; “0.0000” means that Take Profit is not placed (or it is deleted if
it has already been placed).
If any of the indicated information is incorrect and the Orders are placed through the Client
Terminal without using an Expert Advisor, the Instruction will be declined and the
“Modify…” button will remain inactive.
5.10. Unless otherwise indicated in the Contract Specifications, while giving an Instruction,
the difference between the Stop Loss, Take Profit or the Pending Order level and the
current market price must not be less than the number of Points indicated for each
Instrument in the Contract Specifications, and the following conditions must be met:
a) for the Stop Loss on the Short Position the current market price is the Ask price and the
Order must not be placed lower than the Ask price plus this number of Points;
b) for the Take Profit on the Short Position the current market price is the Ask price and the
Order must not be placed higher than the Ask price less this number of Points;
c) for the Stop Loss on the Long Position the current market price is the Bid price and the
Order must not be placed higher than the Bid price less this number of Points;
d) for the Take Profit on the Long Position the current market price is the Bid price and the
Order must not be placed lower than the Bid price plus this number of Points;
e) for the Buy Limit, the current market price is the Ask price and the Order must not
be placed higher than the Ask price less this number of Points;
f) for the Buy Stop the current market price is the Ask price and the Order must not
be placed lower than the Ask price plus this number of Points;
g) for the Sell Limit the current market price is the Bid price and the Order must not
be placed lower than the Bid price plus this number of Points; and
h) for the Sell Stop the current market price is the Bid price and the Order must not
be placed higher than the Bid price less this number of Points.
5.11. Unless otherwise indicated in the Contract Specifications, while giving an Instruction,
the difference between the If‐Done Order level and the level of the Pending Order must not
be closer than the number of Points indicated for each Instrument in the Contract
Specifications, and the following conditions must be met:
a) the Stop Loss on the Buy Limit or Buy Stop must not be placed higher than the level
of the Pending Order less this number of Points;
b) the Stop Loss on the Sell Limit or Sell Stop must not be placed lower than the level of
the Pending Order plus this number of Points;
c) the Take Profit on the Buy Limit or Buy Stop must not be placed lower than the level
of the Pending Order plus this number of Points; and
d) the Take Profit on the Sell Limit or Sell Stop must not be placed higher than the level
of the Pending Order less this number of Points.
5.12. An Instruction to place an Order is deemed executed and the Order is deemed placed
once the relevant record appears in the Server Log‐File.
5.13. Each Pending Order has a Ticket.
5.14. An Instruction to place an Order may be declined by the Company if it precedes the
first Quote on the Market Opening. In this case the “Off quotes” message appears in the
Client Terminal window.
5.15. The Company has the right, but not obligation, to decline an Instruction to place an
Order if, while a Dealer processes this Instruction, the current Quote reaches the level at
which clause 5.10 or 5.11 have been breached.

The Procedure for Modifying and Deleting an Order

5.16. If the Customer gives an Instruction to modify Pending Order parameters (the level of
the Pending Order and/or If‐Done Orders), the Customer shall specify the following:
a) Ticket;
b) Pending Order level;
c) level of Stop Loss; “0.0000” means that Stop Loss is not placed (or it is deleted if it
has already been placed);
d) level of Take Profit; “0.0000” means that Take Profit is not placed (or it is deleted if it
has already been placed).
If any of the indicated information is incorrect and the Orders are placed/modified/deleted
through the Client Terminal without using an Expert Advisor, the Instruction will be declined
and the “Modify…” button will remain inactive.
5.17. If the Customer gives an Instruction to modify Stop Loss and Take Profit on the Open
Position, the Customer shall specify the following:
a) Ticket;
b) level of Stop Loss; “0.0000” means that Stop Loss is not placed (or it is deleted if it
has already been placed); and
c) level of Take Profit. “0.0000” means that Take Profit is not placed (or it is deleted if it
has already been placed).
If any of the indicated information is incorrect and the Orders are placed/modified/deleted
through the Client Terminal without using an Expert Advisor, the Instruction will be declined
and the “Modify…” button will remain inactive.
5.18. When the Customer gives an Instruction to delete a Pending Order, the Customer
shall specify its Ticket.
5.19. An Instruction to modify or delete an Order is deemed executed and the Order is
deemed modified or deleted once the relevant record appears in the Server Log‐File.
5.20. An Instruction to modify or delete an Order may be declined by the Company if it
precedes the first Quote on the Market Opening. In this case the “Off quotes” message
appears in the Client Terminal window.
5.21. The Company has the right, but not obligation, to decline an Instruction to modify or
delete an Order if, while it is being processed, the Order has been placed in the queue in
order to be executed in accordance with clause 5.23.
5.22. When the Customer gives an Instruction to modify or delete an Order Level, the
Company has the right, but not obligation, to cancel the Order Level modification or Order
deletion, if the processing of that Instruction is finished after the Order is placed in the
queue in order to be executed in accordance with clause 5.23.

The Procedure for Order Execution

5.23. The Order is placed in the queue in order to be executed in the following cases:
a) the Take Profit on open Long Position is placed in the queue in order to be executed
if the Bid price in the Quotes Flow becomes equal or higher than the Order Level;
b) the Stop Loss on open Long Position is placed in the queue in order to be executed if
the Bid price in the Quotes Flow becomes equal or lower than the Order Level;
c) the Take Profit on open Short Position is placed in the queue in order to be executed
if the Ask price in the Quotes Flow becomes equal or lower than the Order Level;
d) the Stop Loss on open Short Position is placed in the queue in order to be executed if
the Ask price in the Quotes Flow becomes equal or higher than the Order Level;
e) the Buy Limit is placed in the queue in order to be executed if the Ask price in the Quotes
Flow becomes equal or lower than the Order Level;
f) the Sell Limit is placed in the queue in order to be executed if the Bid price in the Quotes
Flow becomes equal or higher than the Order Level;
g) the Buy Stop is placed in the queue in order to be executed if the Ask price in the Quotes
Flow becomes equal or higher than the Order Level;
h) the Sell Stop is placed in the queue in order to be executed if the Bid price in the Quotes
Flow becomes equal or lower than the Order Level.
5.24. Once the Pending Order is placed in the queue in order to be executed, the Server
automatically checks if the Free Margin is sufficient to open the position:
a) cumulative Customer positions and new Necessary Margin (“New Margin”) are
calculated for Matched Positions depending on the Hedged Margin; for other positions
this is dependent on the Initial Margin, which is calculated at the average weighted price
(in terms of volume) of all positions except the matched ones;
b) if the Pending Order Level is in the Price Gap, the Floating Profits/Losses for all Open
Positions and the new position are calculated at the current Quotes at the moment the
Order is placed in the queue in order to be executed; and
c) “Free Margin” is calculated as follows: Free Margin = Balance – New Margin + Floating
Profit – Floating Loss;
d) if the above-mentioned calculations for the new position have been done and “Free
Margin” is less than zero, then the Company has the right, but not obligation, to decline the
Instruction to open the position and delete the Pending Order and the “No money”
message will be recorded in the Server Log‐File.
5.25. An Order is deemed executed once the relevant record appears in the Server Log‐File.
5.26. In case of Pending Order execution, the process of opening the position is followed by
the relevant record in the Server Log‐File and the position opened by this Order has the
same Ticket as the Pending Order.
5.27. In the cases where insufficient liquidity exists at the order level and/or the order level
falls within a price gap at market opening and/or during the quote(s) flow, the Company, in
its sole and absolute discretion, may execute Buy Limit, Sell Limit and Take Profit orders at
the requested price at the moment the order is executed.
5.28. In the cases where insufficient liquidity exists at the order level and/or the order level
falls within a price gap at market opening and/or during the quote(s) flow, the Company, in
its sole and absolute discretion, may execute Buy Stop, Sell Stop and Stop Loss orders at the
current available price at the moment the order is executed. The Client acknowledges, agrees
and consents herein that the execution price may differ from the order level.
5.29. Pending Order can be executed partially if there is not enough liquidity to hedge the
trade with Liquidity Providers at the Order Level. In case of insufficient liquidity from
Liquidity Providers for the full execution of an Order at the Order Level, the Order will be
executed partially and new Pending Order will be issued with the originally specified
parameters on unfilled amount.
5.30. In the cases where a pending order level and/or the respective order’s Stop Loss and/or
Take Profit shall fall within a price gap at market opening and/or during the quote(s) flow,
the Company, in its sole and absolute discretion, shall open and close a position immediately
within the same tick, at the first available price.

6. Stop Out
6.1. The Company is entitled to close the Customer’s Open Positions without the consent of
the Customer or any prior notice if the Equity is less than the Level of Stop Out specified on
the Company’s Trading Terms Webpage.
6.2. Margin Level shall be monitored by the Server. The Client acknowledges, agrees and
consents herein that subject to clause 6.1 above the Server shall generate the Stop Out
Instruction to close a position without prior consent required by the Client.
Stop Out shall be executed at the price at which the Company has hedged the trade. The
Client acknowledges, agrees and consents herein that the Company has the right, in its sole
and absolute discretion, to adjust this price to reflect the cost(s) of hedging.
Stop Out shall be executed at the current price available at the moment the order is executed.
The Client acknowledges, agrees and consents herein that in the cases where the Stop Out is
executed by the Company, the Stop Out shall be executed at the price at which the Company
has hedged the position and the price shall be adjusted by the Company, in its sole and
absolute discretion in order to reflect such hedging cost(s).
6.3. If the Customer has several Open Positions, the first position which has to be placed in
the queue in order to be closed is the one with the highest Floating Loss.
6.4. If a Stop Out execution has resulted in a negative Balance of the Customer’s Trading
Account, the Customer shall be liable for this loss and must make a payment of the full and
total amount due immediately. Company has the right to compensate this loss at the
expense of the Customer’s funds located in other Accounts belonging to the Client.
6.5. The Company has the right to close any Open Positions of the Customer without a
warning if it is required in accordance with the Dispute process.

7. Communication
7.1. In order to communicate with the Customer, the Company may use:
a) Trading Platform internal mail;
b) email;
c) telephone;
d) Company News Webpage.
Contact details provided by the Customer whilst opening the Trading Account or updated in
accordance with clause 7.4 will be used by the Company to contact the Customer and the
Customer will agree to accept any notices or messages from the Company at any time.
7.2. Any communication sent to the Customer (documents, notices, confirmations,
statements, etc.) are deemed received if:
a) sent by email, within one hour after emailing it;
b) sent by Trading Platform internal mail, immediately after sending it;
c) by telephone, then once the telephone conversation has been finished;
d) posted on the Company News Webpage, within one hour after it has been posted.
7.3. For the purpose of clause 7, “business hours” mean between 9:00 a.m. and 5:00 p.m.
by the Company’s Local time on a Business Day.
7.4. The Customer shall notify the Company immediately of any change in the Customer’s
contact details.
7.5. Transactions will be confirmed by email on the next Business Day after the execution. If
the Customer has a reason to believe that the confirmation is inconsistent or if the Customer
does not receive any confirmation (though the Transaction was made), the Customer shall
contact the Compliance Department in accordance with clause 8.
7.6. On the first day of each month the Company will send by email a statement which
includes all Transactions during the previous month.
7.7. Any telephone conversation between the Customer and the Company may be
recorded. All Instructions and Requests received by telephone will be binding as if received
in writing. Any recordings shall be and will remain the sole property of the Company and
will be accepted by the Customer as conclusive evidence of the Instructions, Requests or
conversations so recorded. The Customer agrees that the Company may deliver copies of
transcripts of such recordings to any court, regulatory or government authority.

8. The Procedure for Dispute Resolution

Complaints Procedure

8.1. Both the Company and the Customer have the right to initiate the process of Dispute
resolution. In a case where the Company initiates it, the decision must be made and all the
necessary actions must be taken within one Business Day of the Dispute arising. If any
conflict situation arises when the Customer reasonably believes that the Company as a
result of any action or failure to act breaches one or more terms of our Terms of Business,
the Customer has the right to lodge a complaint with the Company as soon as reasonably
practicable after the grievance has arisen.
8.2. To file any complaint, the Client should complete the standard form in MyFXTM. A new
complaint is assigned with a unique number (TID) and the Client will be advised of the
complaint status by email, sent from complaints@forextime.com. All complaints filed
through any other method will not be taken under consideration.
8.3. A complaint shall include:
a) name and surname of the Customer (or company name if the Customer is a legal entity);
b) Customer’s login details in the Trading Platform;
c) details of when the conflict first arose (date and time in the Trading Platform Time Zone);
d) Ticket of the position or Pending Order;
e) description of the conflict situation supported by the reference to these Terms of
Business.
8.4. The complaint must not include:
a) affective appraisal of the conflict situation;
b) offensive language;
c) uncontrolled vocabulary.
8.5. The Company has the right to refuse a complaint if any of clauses 8.2, 8.3 or 8.4 have
been breached.
Server Log‐File
8.6. The Server Log‐File is the most reliable source of information in a case of any Dispute.
The Server Log‐File has the absolute priority over other arguments including the Client
Terminal Log‐File as the Client Terminal Log‐File does not register every stage of the
execution of the Customer’s Instructions and Requests.
8.7. If the Server Log‐File has not recorded the relevant information to which the Customer
refers, the argument based on this reference may not be considered.
Indemnification
8.8. The Company may resolve all Disputes by:
a) crediting/debiting the Customer’s Trading Account: this correcting entry will have
an explanatory narrative; and/or
b) reopening erroneously closed positions; and/or
c) deleting erroneously opened positions or placed Orders.
The Company has the right to choose the method of Dispute resolution at its sole discretion.
Disputes not mentioned in these Terms of Business are resolved in accordance with the
common market practice and at the sole discretion of the Company.
If the Quotes Flow has been interrupted due to a software and/or hardware failure, all
decisions in regard to the Dispute will be made on a basis of the live Server’s Quotes Base
synchronized in accordance with clause 2.13.
8.9. The Company shall not be liable to the Customer if for any reason the Customer has
received less profit than had hoped for or has incurred a loss as a result of uncompleted
action which the Customer had intended to complete.
8.10. The Company shall not be liable to the Customer in regard to any indirect,
consequential or non‐financial damage (emotional distress, etc.).
8.11. The Compliance Department shall consider any Customer’s complaint or Dispute and
endeavour to investigate any Dispute or complaint as soon as reasonably practicable. All
complaints will be considered within two Business Days from the day the complaint is
received.
8.12. The Company shall take all necessary actions in accordance with clauses 8.8 (a), (b)
and/or (c) as soon as reasonably practicable but in any case, within one Business Day after
the decision of the Dispute is made.
Refusal of Complaint
8.13. If the Customer has been notified in advance by Trading Platform internal mail or
some other way of routine construction on the Server, complaints made in regard to any
unexecuted Instructions which are given during such a construction period, are not
accepted. The fact that the Customer has not received a notice shall not constitute a reason
to lodge a complaint.
8.14. Complaints in regard to a Transaction or Order execution based on the difference in
the prices for the Contract for Difference in the Trading Platform and for the underlying
asset of the Contract for Difference are not accepted.
8.15. Provided that clause 5.23 has not been breached, complaints in regard to time of
Order execution notwithstanding the amount of time a Dealer needed to execute the Order
as well as the time when the Server Log‐File Recorded Order execution are not accepted.
8.16. No Customer complaints will be accepted in regard to the financial results of the deals
made using temporary excess Free Margin on the Trading Account gained as a result of a
profitable position (cancelled by the Company afterwards) opened at an Error Quote (Spike)
or at a Quote received as a result of a Manifest Error.
8.17. In regard to all Disputes any references by the Customer to the Quotes of other
companies or information systems will not be taken into account.
8.18. The Customer acknowledges that he/she will not be able to manage the position while
the Dispute in regard to this position is being considered and no complaints in regard to
that matter are accepted.
The Customer acknowledges that the Company will not notify him/her that the Dispute has
been resolved and the position has been reopened and the Customer shall be responsible
for all the risks in this respect.
Once the Dispute has been resolved the Company has the right to trigger the Stop Loss or
Take Profit in the chronological order in which they would have been triggered if the Stop
Out had not been executed.
8.19. The Company has the right to void any Transaction if the corresponding hedge trade
has been cancelled by a Liquidity Provider.

9. Interpretation of Terms
9.1. In these Terms of Business:
“Bar/Candle” shall mean a Chart element, which shows opening and closing prices, as well
as the lowest and the highest prices for the definite period of time (for example, minute, 5
minutes, a day, a week).
“Buy Limit” shall have the meaning given in clause 5.1.
“Buy Stop” shall have the meaning given in clause 5.1.
“Client Terminal Log‐File” shall mean the file, which is created by the Client Terminal in
order to record all the Customer’s Requests and Instructions with accuracy to a second.
“Company” shall mean ForexTime Ltd, which is authorised and regulated by the Cyprus
Securities and Exchange Commission (CySEC License number 185/12). The Company is
registered in the Republic of Cyprus, registration number HE 310361. Its registered office is
at the FXTM Tower, Lambrou Konstantara 35, 4156, Limassol, Cyprus.
“Customer” shall mean a legal entity or an individual being a party to the Operative
Agreements with the Company in regard to making Transactions, subject to Margin Trading.
“Customer Agreement” shall mean the agreement between the Company and the
Customer, which together with the Terms of Business and the Risk Acknowledgement and
Disclosure are defined as “Operative Agreements” and govern the terms on which the
Company deals with the Customer.
“Day Order” shall mean an Order which is automatically deleted at the end of the trading
session.
“Dealer” shall mean the Server or an employee of the Company who is authorised to
process the Customer’s Instructions and Requests and execute Orders and Stop Outs.
“Expert Advisor” shall mean an algorithm in the form of a program based on MetaQuotes
Language 4, which is used to control a Trading Account and give Instructions and Requests
to the Server through the Client Terminal.
“GTC” (“Good Till Cancelled”) shall mean the Order which is valid until the Customer sends
the Instruction to delete the Order.
“If‐Done Order” shall have the meaning given in clause 5.2.
“Instant Execution” shall mean the execution method where the order is executed to the
most recently available price. In instant execution if the requested price is not available, the
current available price will be sent to the Client to confirm execution (requote). Instant
Execution is offered under the Standard Account and Cent Account.
“Manifest Error” shall mean an error of a Dealer who opens/closes a position or executes
an Order at the price which significantly differs from the price for this Instrument in the
Quotes Flow at the moment of taking this action, or any other Dealer’s action in regard to
the prices which are significantly different from the market prices.
“Margin” shall mean the amount of funds required and/or used by the Client in order to open
a position.
“Margin Level” shall mean the % level displayed in the MetaTrader Terminal that displays the
Equity divided by Margin * 100
“Market Execution” shall mean the execution method where the order is executed
depending on the depth of the market. Under Market Execution there are no re-quotes and
the order is executed at the best available price in the market. Market Execution is offered
under the ECN Account, ECN Zero and FXTM ECN MT5.
“Market Opening” shall mean the time at which the market opens after weekends, holidays
or trading session time gaps.
“New Margin” shall have the meaning given in clause 3.6.
“Order Level” shall mean the price indicated in the Order.
“Pending Order” shall mean an instruction from the Customer to the Company to open a
position once the price has reached the level of the Order.
“Point” / “Pip” shall mean the numerical value of the last, or right‐most, digit of a Quote.
“Price Gap” shall mean the following:
(a) the current Quote Bid is higher than the Ask of the previous Quote; or
(b) the current Quote Ask is lower than the Bid of the previous Quote.
“Price Gap on the Market Opening” shall mean the following:
a) the first Bid of the current trading session is higher than the last Ask of the previous
session; or
b) the first Ask of the current trading session is lower than the last Bid of the previous
session.
“Request Execution” shall mean the mechanism of providing Quotes to the Customer with
prior Request.
“Quotes Flow” shall mean the stream of Quotes in the Trading Platform for each Instrument.
“Sell Limit” shall have the meaning given in clause 5.1.
“Sell Stop” shall have the meaning given in clause 5.1.
“Server Log‐File” shall mean the file created by the Server, which records accurately to a
second all Requests and Instructions sent by the Customer to the Company as well as the
results of their execution.
“Spread” shall mean the difference between Ask and Bid.
“Stop Loss” shall have the meaning given in clause 5.2.
“Stop Out” shall mean an instruction to close the Customer’s Open Position without the
consent of the Customer or any prior notice in a case of insufficient funds required for
maintaining Open Positions.
“Take Profit” shall have the meaning given in clause 5.2.
“Tick” shall mean the rate which the Company shall receive in its terminal trading platform(s).
“Ticket” shall mean the unique identity number assigned for each Open Position or Pending
Order or deposit/withdrawal transaction in the Trading Platform.
“Trading Terms Webpage” shall mean the webpage of the Website on which the Trading
Terms information is displayed. At the moment of this document the information is posted
on under the “trading‐terms” tab on our website www.forextime.com.
“Trading Platform Time Zone” shall mean the time zone in which the Server Log‐File
records any event. At the time of the release of this document the Trading Platform Time
Zone is GMT/BST + 2 (last weekend of October – last weekend of March). During daylight
saving time (last weekend of March – last weekend of October), the Trading Platform Time
Zone may be shown as GMT + 3.
9.2. All references to a statutory provision include references to:
a) any statutory modification, consolidation or reenactment of it, whether before or after
the date of these Terms of Business, for the time being in force;
b) all statutory instruments or orders made pursuant to it; and
c) any statutory provision of which that statutory provision is a re‐enactment or
modification.
9.3. Words denoting the singular include the plural and vice versa; words denoting any
gender include all genders; and words denoting persons include corporations, partnerships,
other unincorporated bodies and all other legal entities and vice versa.
9.4. Unless otherwise stated, a reference to a clause, party or a schedule is a reference to
respectively a clause in or a party or schedule to these Terms of Business.
9.5. The clause headings are inserted for ease of reference only and do not affect the
construction of these Terms of Business.

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