TERMS AND CONDITIONS OF TRADES.COM SERVICE
From May 22, 2017
- INTRODUCTORY NOTES
1.1. Terms and Conditions of TRADES service Agreement (hereinafter: Terms and Conditions) that are attached are forming an integral part of the Agreement on the service TRADES (hereinafter referred to as the Agreement) closed by the company CREDOS Ltd. with headquarters in Zagreb, Croatia, Nemčićeva 7, OIB: 21667415955 as investment company (hereinafter the Company) and legal and natural persons as a client (hereinafter: Client) whom the Company permanently or occasionally provides investment services of reception and transmission of orders in connection to one or more financial instruments, in order to be traded outside organized multilateral trading system(s) and regulated markets or multilateral trading platforms, so-called Over The Counter (OTC) transactions via the website www.trades.com that supports the following trading platforms:
- Metatrader 4
- TRADES Webtrader
- TRADES Mobile Trader
- TRADES Trader Tablet
1.2. Within the Terms and Conditions herein, following terms, unless the context otherwise indicates, will have the following meanings in singular or plural:
The Company stands for CREDOS Ltd., Nemčićeva 7, OIB: 21667415955, Zagreb, Croatia.
Third party stands for third entity or third party to which Credos d.o.o., Nemčićeva 7, Zagreb, transfers orders to buy and/or sell financial instruments which are traded in markets in which the Company is not a direct member. List of third parties to which the Company transfers orders for the buy and/or sale financial instruments is listed in Order execution policy of investment company Credos Ltd.
HANFA indicates the Croatian Agency for Supervision of Financial Services, Miramarska 24, Zagreb, Croatia.
ZTK indicates the Croatian Capital Market Act (“Zakon o tržištu kapitala - Official Gazette" 88/08, 146/08, 74/09, 54/13, 159/13, 18/15, 110/15 and any subsequent modifications and / or addendums).
FATCA means Foreign Account Tax Compliance Act - US Law on Execution of tax obligations with respect to accounts in foreign financial institutions.
FFI stands for Foreign Financial Institution in terms of FATCA.
Relevant regulations presume:
1) ZTK, regulations issued according to this Act or any other guidelines nad regulations issued by HANFA
2) All other applicable regulations (especially the Act on Protection of Personal Data, the Act on prevention of money laundering and terrorist financing, FATCA), rules and regulations in force at the relevant time.
Financial instruments in terms of this Agreement indicate financial instruments traded outside the multilateral system(s) of organized regulated markets so-called OTC transactions.
TRADES service stands for investment services of reception and transmission of orders for trading outside the multilateral system (s) and regulated markets or multilateral trading platforms OTC transactions via the trading platform Metatrader 4, Trades Webtrader, Trades Trader and Mobile Trader Trades Tablet.
Client is a natural o legal person who signed contract with the Company in order to use TRADES Service.
Order Execution Policy stands for Order Execution Policy of the Company in the part concerning derivatives and transactions through the web site www.trades.com and Order Execution Policy for orders by Third party (Best Interest & Order Execution Policy).
Rules of trading indicate applicable rules of trading of the Third party (Trading Procedures & Best Execution Policy).
Notice of executed order designates confirmation of the execution of orders under Article 14 of the Ordinance on the rules of professional conduct when providing investment and ancillary services ("Official Gazette" No. 42/13 and any subsequent modifications and / or additions).
Inside information indicates the inside information under the definition of the ZTK (Capital Market Law) - the precise nature of the information that is not publicly available and which is directly or indirectly related to one or more issuers of financial instruments or to one or more financial instruments and which, if it were made public, likely to have a significant impact on the market prices of those financial instruments or on the price of related derivative financial instruments.
MTP stands multilateral trading platform.
OTC stands for Over The Counter, therefore, the market for financial instruments outside the multilateral trading system (s) of organized regulated markets or MTP.
Account is the account which the Client with the Company for trading outside the multilateral system (s) of organized trading in financial instruments (regulated market or multilateral trading platform) in line with the service TRADES, and which account is assigned to a specific account number.
The base currency stands for US dollars.
Statement of financial instruments and / or client’s cash is referred to a report on the state of the Client’s assets according to Article 77 of ZTK and Article 17 of the Regulations on the rules of professional conduct when providing investment and auxilliary services ("Official Gazette" No. 42/13 and any subsequent changes and / or additions).
Permanent medium stands for any instrument which enables the customer to store data in such a way that they are available for future use as long as necessary having in regard the purpose of the data and which allows the free multiplication of data stored.
The case of violations stands for any of the following listed events:
1) non-payment by the client at maturity;
2) any violation of this Agreement which is not eliminated within a period of 1 (one) working day
3) after a party that has committed a violation has received a notification from the Counterparty on commited violations and has requested its removal.
4) if the Company determines with reason that the client shows unusual trading activity or is behaving in a way that could reasonably be considered as a misuse under Croatian legislation, or adopted trading strategies are aimed at exploiting incorrectly stated prices (or in general seem to acting in bad faith or attempts to misuse information or content available through TRADES);
5) events or circumstances for which one party is considering to may have harmful impact on this Agreement or on the counterparties abilities to fulfill any obligation under this Agreement;
7) declaration of one of the parties it not be able to or does not intend to carry out its obligations under this Agreement;
8) non-compliance or breach of the terms and conditions given in Article 8 of this Agreement.
Risk Limitation Statement (Credos) stands for the statement available on the website www.trades.com which may change from time to time, and is an integral part of this Agreement and includes warnings about the risks related to the use of the TRADES Trading Service.
Risk Limitation Statement of Third party indicates statement (Warnings And Risk Disclosures) available on the website www.trades.com that occasionally can be changed, and is an integral part of this Agreement and includes warnings about the risks related to OTC financial instruments (CFDs and FX).
The transaction assumes all transactions specified in this Agreement that include CFDs or forward contract of any kind, futures, options or other derivative contracts in connection with any goods, financial instrument (including any security), currency, interest rate, index or any combination thereof and all other transactions or financial instruments for which the the Third party is authorized to execute the Client's order.
1.3. Terms specified in this document have the same meaning in the Contract if not otherwise stated.
1.4. In case of conflict between Terms and Conditions and the relevant rules of trading, trading rules will prevail.
1.5. In case of conflict between the Agreement and the Terms and Conditions shall, specifics of the Agreement will prevail.
1.6. The names of certain titles within Terms and Conditions are stated for convenience only and have no impact on their interpretation.
- COMPANY ROLE
2.1. The company provides investment services of reception and transmission of orders for trading CFDs and FX.
2.2. Third party is the executor of orders and a market maker for the CFD and FX.
Third party will execute the Client's order in accordance with executing policy of the Third party (Best Interest & Order Execution Policy) and the Rules of trading of the Third party (Trading Procedures & Best Execution Policy).
2.3. Relevant information on the Company are available on the Company's website www.credos.hr.
3 MUTUAL RIGHTS AND OBLIGATIONS
3.1. By signing the Contract with the Company, the Client confirms to be familiar with the contents and agrees the following documents to be applied:
1) these Terms and Conditions,
2) Information on investment and auxilliary services of investment company Credos Ltd. and financial instruments available on the market and the risks connected,
3.2. By signing the Contract with the Company, the Client confirms to be familiar with the categorization or classification of the Client to small or professional investor or a qualified principal.
3.3. By signing the Contract the Client is confirming that the Company at any time may amend these Terms and Conditions as well as other documents of the Company in accordance with legal regulations and business practice of the Company and that any further amendments or changes to these Terms and Conditions and other documents mentioned is binding the Company from the moment of entry into force of the same. Any change or amend in these Terms and Conditions the other documents mentioned will be made on a durable medium, displayed in a visible and accessible place to the Client on the website www.trades.com . By signing the Agreement the Client is confirming that the to a third party at any time can change the rules of trade and other documents in accordance with legal regulations and business policy of the third party and that any further amendments or changes to the above documents are binding from the moment determined by the third party.
3.4. The rights and obligations of the Company and the Client in implementation of the services described under Terms and Conditions will be realized, in addition to other contractual arrangements, under following conditions and assumptions:
1) The Company is not responsible for the losses and expenses which the Client has or obligations of the Client resulting from system failure, inability or delayed data transfer etc., unless they are a result of gross negligence or willful intent of the Company.
2) The Client will be offered real time trading prices. Due to delays in transmission between the Client and the Company or the third party as executors of orders prices offered are subjected to change before the Company receives the order from the Client.
3) The Company is not responsible for loss, damage or expense suffered by the Client or the Client's obligation that occur as a result of the client using a version of the trading platform different from the standard version that is made available and which contains installed all available updates.
4) Client will be responsible for all orders and accuracy of all information transmitted over the Internet under his username, password or any other sign of identification of the Client.
5) The Client is obliged to keep the username and password and ensure that third parties do not come into the possession of the Client’s trading settings.
6) Regardless the case the trading platform automatically generated notice on placed and executed order, only the notification provided by the Company is considered to be confirmation the order is executed.
3.5. The Company may register and keep a record of the IP address from which the Client logged on the trading platform in order to prevent the implementation of trading strategies that are aimed at exploiting errors in prices and / or to enter into transactions at non-market prices (a strategy known by the term "sniping"). Such an IP address can be transferred to a third party.
4.1. The Client may place orders electronically through the online trading system TRADES or, exceptionally, orally by telephone to Trading Department in accordance with the Company and Third party Best Interest & Order Execution Policy and Trading Procedures & Best Execution Policy.
4.2. Types of orders that are accepted
Types of orders the Company accepts include, but are not limited to:
- Good till Cancelled"GTC" - An order (other than a market order) which is effective until it is realized or canceled. GTC orders do not automatically cancel at the end of the trading day.
- Limit order- An order (other than a market order) to buy or sell the specific instrument at a specified price. Limit purchase order will generally be when the offered price is equal to or lower than the current price offered in the auction that is specified by the Client. Limiting the sale order will generally be made when the price offered in the auction is equal to or exceeds the offered price specified by the Client. If the Client's order to buy or sell at a limited price cannot be executed immediately, the order will be in the Third party system exposed with the duration until its cancellation.
- Marketorder- An order to buy or sell a specified market at the current market price provided by the Third party or through the online trading system or by phone through one of the dealers. The order to buy is executed at the current market bid price and the sale order is done according to the current market bid price. Since the order is carried out at the market price, the transaction price may differ from the price indicated in the given order due to changes in the market price at the time of execution.
- Stop LossOrder - An order to limit the loss is the instruction to buy or sell a market at a price which is worse than the starting price of the daily open position (or worse than the prevailing price when the order is given with limit losses on an already open position ). It can be used as a help with protection against losses. The order is activated at the moment when the market price reaches the Stop Loss price, and then becomes a market order. Please note that due to a market gap, the best available price that may be achieved could be materially different from the price that was established in order to limit losses and, as such, orders to limit losses do not guarantee that it will be executed at the price of they are placed.
- Trailing StopOrder- the same as the stop loss order with only one difference where in addition to determining the price at which the order is activated, trailing stop order is activated at a fixed distance from the market price. For example, if a customer has purchased a long open position and bid market price rises, the Trailing Stop price will also rise and follow the market price offered at a fixed distance set by the client. If the market price offered afterwards decreases, the Trailing Stop price will also remain fixed at its last position and if the market offer price reaches trailing stop price, the order will be executed. Please note that due to a market gap, the best available price that may be achieved could be materially different from the price determined by the trailing stop order and as such, trailing stop orders do not guarantee that it will be carried out at a fixed distance for which are set.
- a) Long trailing stop (to close long positions): the market price in the order is at $10, trailing stop amount is at $0.50, the market price at the time of arrival of the order on the market is at $10.05. Once at the market, the order becomes order with stop-priced at $ 9.55 ($10.05 - $0.50). If the price continues rising e.g. to $10.07, the stop price rises to $9.57, and so on, until the market price rises. If the market price falls to $10, the stop price remains at $9.57 until the market price does not rise again. If the market price continues to drop, the order is activated when the market price reaches the stop price and then becomes a market order.
- b) Short trailing stop (to cover short positions): the market price in the order is at $ 10, trailing stop amount is at $0.50, the market price at the time of arrival of the order on the market is at $9.95. When it arrives on the market, the order becomes order with stop-priced at $10.45 ($9.95 + $0.50). If prices continue to fall, for example, at $9.90, the stop price lowers to $10.40, and so on, until the market price falls. If the market price rises to $10, the stop price remains at $10.40 until the market price falls again. If the market price continues to rise, the order is activated when the market price reaches the stop price and then becomes a market order.
4.3. After placing the order Client is solely responsible to be available for the order and to fill certificates and other communications regarding his account until all active orders are closed. Thus, the client often has to monitor their account when there are open positions in the account.
4.4. The Client's account will be valid in accordance with the type and time of the given order, as specified. If during the timeframe or date / time of the expiry of the order is not fixed, it will be valid indefinitely.
4.5. It is the sole responsibility of the Client to clearly indicate the terms of the order placed, if it is a market order, limiting order, stop loss order or any other type of order, including the relevant price and lot size. The client accepts that the price at which execution occurs may differ from the prices specified in the order. This may be a result of sudden price movements in the underlying assets which are outside the control of the Company. The Company will not be responsible for failure of execution of the order. The Company will have the right, but not the obligation, to reject any order in whole or in part, prior to the execution, or cancel any order where the Customer's account does not have sufficient collateral to support the entire order or where such an order is illegal or otherwise inappropriate.
4.6. The Company may temporarily or permanently suspend placing an order for the purchase and / or sale of financial instruments by the Client, if the Company estimates that the placing of such an order would represent market manipulation or could otherwise amount to a breach of laws and regulations at the discretion of the Company, in accordance with the legal powers of the Company. In this case, the Company will inform the Client about temporary suspension in the manner provided in Terms and Conditions.
- MONEY FUND
5.1. The Client can make a deposit of money solely to one of the here available accounts of the Company. The Company receives exclusively deposits of the Clients, third party deposits are not allowed. Own account (s) for trading client can open the USD / EUR / GBP / CAD / JPY or any other currency offered by the Company. Account balances will be calculated in the currency in which accounts are maintained and reports to the Client will be in the same currency.
5.2. The Client's orders to purchase financial instruments are considered to be received only when received by trading platform.
5.3. Client’s cash received by the Company receives outside working hours in the working day or a non-working day are considered to be received on the first next business day.
5.3. The Client is aware that the Company or the Third party whom the funds are forwarded to will receive Client’s funds with certain delay me after the payment, payments abroad may require a long time to settle.
5.4. The Client is at the request of the Company and /or the Third party required to pay:
1) all sums of money required for the realization of orders and commitments from the purchased financial instruments
2) any amount required to maintain a positive balance of any account with the Company.
5.5. If the Client makes any amount of payment that is subjected to fluctuations, withholding or deductions, Client will pay the Company additional amounts in order to ensure that the amount actually received by the Company is equal to or exceeds the amount that the Client settles with this payment.
5.6. The Company will approve the Client's account for the amount of funds that are paid only after each payment is received by the Company.
5.7. If the client wants to withdraw funds from the trading account, the Client will be asked to fill out and sign the form for the disbursement of funds. Within eight (8) working days of receipt of the duly completed and signed Request for payment, the Company will transfer the funds to the same bank account from which it was initially transferred or to the later submitted bank account, provided all the conditions for withdrawal are met in accordance with the Trading Rules.
When the client's trading account maintained by the Company is jointly owned by two or more users:
1) Every owner of a joint account is jointly and individually liable for all obligations to the Company and / or to the Third party arising in respect of the joint account for trading.
2) Every owner of a joint account is individually responsible for compliance with the provisions of this Agreement.
3) If there is a disagreement between account users for which the Company is aware of , the Company may require that all account users given written instructions.
4) If one of the beneficiaries of a joint account dies, survived person / persons can continue to manage the account for trading, and if there is more than one survivor, the provisions of this paragraph shall continue to apply to the trading account.
5) When the Client gives personal and financial information regarding the second owner of a joint account for the purpose of opening and managing the Client's account for trading, it is considered that Klijnt confirms that it has the consent of the person affected by the data subject or related to the Company otherwise have the right to provide this information and allow the Company to be used in accordance with this Agreement.
6) Each of the joint account users may require closing of the account and redirection of the balance, unless there are circumstances that require that every user of the joint account Company obtains instructions.
7) Each of the joint account users will have independent access to funds that are initially deposited to the joint account for trading.
8) In case of withdrawal of profits, if any one (or more) of the joint account users, would like to withdraw a profit from the joint account for the trading, the Client will be asked to fill out and sign the Request for payment of the funds. Within eight (8) working days of receipt of the duly completed and signed Request for payment of the funds, the Company will transfer the money to the bank account from which it was initially deposited or to the later submitted bank account of the Company known owner, provided that all conditions for withdrawal are met in accordance with the Trading Rules.
9) In order to make this agreement valid and binding, it is necessary that all the owners of the joint account sign a contract, in the event that one (or more) by the joint account of the Treaty wishes to terminate this Agreement and close the joint trading account maintained by the Company, the written consent of each of the common account user should be obtained in accordance with the provisions in Section 10 of this Agreement.
5.7. The Company may at any time allocate Client’s funds to the settlement account in accordance with the Third party Trading Rules.
5.8. All financial instruments will be kept by the Third party or a someone appointed by the Third party, and the investment firm to which the order is forwarded for execution or a third person appointed by it will be responsible for the realization of rights from financial instruments belonging to the Client.
5.9. Client irrevocably authorizes the Company to take the following actions:
1) transfer any amount of funds received from the Client to settle obligations to any of the third parties;
2) charge, pledge or otherwise provide assurance from the financial instruments of the Client to settle obligations to third parties resulting from the implementation of the order of the Client, regardless of whether the financial instruments are registered in the name of the Client.
5.10. If Client fails to transfer funds necessary for the realization of the transaction in accordance with the given order, the Company may close any open position without prior notice to the Client and use the revenues generated in this way to settle Client’s obligations to the Company.
5.11. If the client does not pay the amount due, the Company has the right to calculate and charge interest at the rate of statutory default interest from the date of maturity of the individual amounts until the settlement date.
5.12. The Company and / or the Third party has the right, but not the obligation, to reject any order in whole or in part, prior to the execution, or cancel any order where the Customer's account does not have sufficient collateral (margin) to support the entire order or where such an order is illegal (Company / the Third party or reasonably suspect that the client possesses privileged information or the like) or is otherwise inappropriate or there is an abnormal condition during the trading session.
5.13. Transfers between the accounts on the binary options / Forex platform are forbidden.
- FINANCIAL INSTRUMENTS
6.1. The Company will, unless otherwise agreed, transfer orders only in conjunction with freely transferable financial instruments to which the right of ownership is not limited, conditioned, time limited or encumbered by any rights or charges in favor of third parties, the customer is required to register only such financial instruments with the Third party.
6.2. Is there is subsequently established restriction of property rights, or the rights to dispose of the financial instruments, the client agrees to immediately notify the Company on such facts, whereby the Company and the Client immediately seek to clarify the situation. If the Client does not promptly notify the Company on limitations, or charges in favor of third parties to financial instruments referred to in this paragraph, the Client is liable to the Company for the damage caused by the fault of the Client.
- CLIENT REPORTING
7.1. The Company is obligated to deliver the Client following:
1) After the execution of the order, the Company shall provide the Client no later than the first business day after the execution, a notification of the order in the manner stipulated in Terms and Conditions. All complaints the Client may have to the relevant notice must also be stated in the manner established by these Terms and Conditions immediately, and no later than one business day after the receipt of the notification. Otherwise it will be considered that the client accepts the terms of the respective notification.
2) On a permanent medium, at least once a year, to each client for which the Company holds financial instruments or funds will send a report on financial instruments and / or financial assets of the client.
7.2. At the end of each trading day, the Client will be available to see via the system confirmation for all transactions that are carried out for the Client during the trading day. These certificates will be available through the Client's online account on the website in the window of open positions and Deal Blotter in the console for trading, which is updated online after the execution of such transactions. Confirmation of execution and statements of the Client's account, if there is no error, shall be deemed to be correct, conclusive and binding on the Client if the Client does not immediately send the complaint in connection with them via e-mail, within five working days after receiving such certificates that are available to the Client via the website.
7.3. Notification of the executed order and report on financial instruments and / or funds of the client, the Company will send to the Client by e-mail. Any other information that the Company must submit to the Client according to these Terms and Conditions, the Company may sent to the Client by e-mail, or display on the Client's account in the TRADES system.
7.4. The Client must submit to the Company a valid email address for the above purposes. The e-mail is considered to be received by the Client at the time the Company sent them. The Company is not liable for any delays, changes, redirects or any other changes that might occur in the message after it was sent by the Company. The message that is located on the Client's account on the trading platform is considered to be received by the Client at the time the message is placed on the trading platform. It is the responsibility of the Client to ensure the software settings do not limit the receipt of e-mail messages or access to the Company's trading platform.
7.5. The client is obliged to check the contents of each document, including documents sent in electronic form by the Company. Such documents shall be considered final unless Client complaints their content immediately upon receipt of such a document.
7.6. By accepting these Terms and Conditions Client acknowledges the Company will not receive notification of the order and report on financial instruments and / or client funds in hard copy by mail, except for certain transactions that specifically requests.
- RESPONSIBILITIES, WARRANTIES AND AGREEMENTS
8.1. Client represents and warrants to the Company at the date of this Agreement and on the day of placing orders and every transaction:
- if the client a natural person, that is of legal age and business wise capable person and that there are no legal obstacles to enter into this Agreement;
- If the Client is not a natural person:
- It is properly organized and established under the applicable laws of the jurisdiction in which it was founded;
- That the person / s who signs contract and places orders has the appropriate authority for it; and
- That the Client has authorized all persons who have signed this contract for performance of all obligations under this Agreement, including the provision to the Company of all necessary information and / or documentation.
- the Client has the necessary authority, power, consent, licenses and authorizations, and that it has taken all necessary actions in order to be legally able to enter into and perform according to this Agreement and such transactions and ensure the safety of the powers referred to in this Agreement;
- the persons who have signed this Agreement and placed any transaction in the Client's name are provided with the appropriate authority and provide the Company with all the information and / or documents requested by the Company;
- This Agreement, all transactions and obligations to them are binding for the Client and must be carried out in accordance with their terms and do not violate and will not violate any provision of any regulation, order, or the cost of the contract resulting from the Client’s relationships with third parties;
- that no default or other event which may occur (with time, giving notice of a decision or a combination of the above) failure to fulfill obligations ("Potential unfulfilled obligations") is imminent and continuing in relation to the Client or any credit support service t;
- that the Client acts as principal and sole beneficial owner (but not as trustee) in the realization of this Agreement and each transaction;
- all the data which the Client gives the Company (regarding the financial position of the Client, residence, etc.) accurate and not in any material respect are misleading;
- that Client can financially bear the loss of funds from the transaction and that it is trading in such transactions is a suitable investment for the Customer; and
- unless otherwise agreed, the Client is sole beneficial owner of all financial instruments and funds that transferred under this Agreement, in which there is no burden other than the collateral that are routinely placed on all securities in a clearing system in which such securities may be held .
8.2. The Client agrees:
- that will at all times ensure and comply with and do all that is necessary to the other provisions of this Agreement in full legal force and legal effect;
- to immediately inform the Company of non-fulfillment of contractual obligations or potential non-fulfillment of contractual obligations related to the individual client or any provider of credit support;
- to take all reasonable steps to fulfill any applicable provisions relating to this Agreement and all transactions as long as applicable to the Client or the Company;
- that it will not send orders or otherwise take any action that would give a false impression of the request or the value of a financial instrument. Also, you will not send orders for which the Company has reason to suspect that violate the applicable provisions because such conduct considered abusive accounts system, including, but not limited to the intention of acquiring the benefits of delay in prices, trading in non-price and / or out of time trafficking in and abuse the system for trading at manipulated prices; and
- that at the request of the company will provide any information that the Company may reasonably require to prove the circumstances referred to this clause or to comply with all applicable provisions of this Agreement.
- will not abuse the services of the Company, systems and / or resources to fraud the Company and / or the Third party and / or authorities and agrees to comply with the instructions of the Company in case the Company determines or suspects in this behavior.
- PROTECTION FROM ABUSE
- Each client is obliged to inform the Company about any suspicions of abuse of the services.
- The client agrees not to misrepresent or unauthorized use or misuse the services. In the case of suspected abuse in the use of services, the Company reserves the right to suspend usage of some or all of the services and to block the account of the client to reduce the risk of possible damage and to protect the interests of the Client.
- The client agrees to keep strictly confidential and with due care, especially against unauthorized access, its user name and password, as well as all other personal identifiers from the relationship with the Company. The client will be responsible for any damage caused by improper storage, misuse or unauthorized use of user names, passwords and other identifiers.
- The Company will each reasonable doubt in the abuse report to the state authority.
- FALIURE TO COMPLY WITH AGREED OBLIGATIONS
10.1. Next will be a breach of contractual obligations:
1) if the client to make the payment to maturity under this Treaty or not to comply with or perform any other provision of this Agreement and if such non-compliance persists one day after we have given notice of non-compliance;
2) if the client is running a voluntary or involuntary bankruptcy, liquidation, reorganization or other activity aimed at paying back debts to the regulations governing the insolvency, bankruptcy, liquidation, insolvency and similar regulations or regulatory authorities conducting the procedure for recovery of debts of the Client, or if The customer is overdue, but have not yet met the requirements for bankruptcy, liquidation, reorganization or similar proceedings;
3) if the client dies, ceases to be fully legally competent, cannot pay your debts by the due date or becomes bankrupt or insolvent, as defined under any law on bankruptcy or insolvency that is applied to the Client: or if any debt of the Client not pay by the due date or at any time be able to declare due and payable under agreements or instruments serving as evidence that long before it would otherwise be due or have been payable or any suit, legal action or other proceedings in connection with this Agreement are start the execution, as well as any seizure, the court decision on the seizure or execution or pledge takes ownership of all or part of property (movable and immovable) of the Client;
4) if the client or any provider of credit support (or any custodian acting on behalf of the Client or the name of the service credit support) abolish, not recognize or reject any obligation under this Agreement or any guarantee, mortgage, loan agreement with a pledge of financial instruments and / or financial assets (margin contract) or insurance or document, or any document that contains an obligation to a third party ("Credit Support Provider") or the Customer, in favor of the Company (each a "Credit Support Document")
5) if it is shown that the guarantees that the client has given or who is deemed to be made under this Agreement or the documents of credit support false or misleading in any material respect at the time when the customer made or deemed to have been client given;
6) If any provider of credit support or customer does not meet or does not perform or contract obligations to be fulfilled or executed under the applicable document of credit support;
7) If any Credit Support Document expires or ceases to be in full legal force and legal effect before the fulfillment of the Client's obligations under this Agreement, unless in writing the parties otherwise agree;
8) if it turns out that any guarantee given by the provider of credit support for, or that is deemed to be given in accordance with any credit support document false or misleading in any material respect at the time when it is given or when it is considered that is given;
9) the occurrence of any event referred to the impossibility of fulfilling the obligations arising from the execution of the order;
10) if the Company deems necessary for its own protection or if you take any action or event occurs which the Company believes it could have a material adverse effect on the client's ability to meet any obligations under this Agreement;
11) if the customer fails to notify the company that is the beneficial owner of more than one account with the Company and / or to act as assignee, trustee or in any other way in the name of and / or for the account of another Client Company;
12) if the client is used delays that occur in price and placed an order for trading on outdated cost, if in non-traded prices and / or outside the hours of trading, manipulating the system for trading at prices that the Third party not have listed and if you perform other actions that make improper trading;
13) if it is proven that any of the Client's statements are true or not up to date or if the client fails to submit the requested information and documentation necessary to determine the status and implementation of FATCA regulations; and / or
14) if there is any failure to fulfill obligations (no matter how described) of the Client to the Company.
- CANCELLATION AND TERMINATION OF THE AGREEMENT
11.1. Unless it is required by applicable regulations, either party may terminate this Agreement by giving written notice of termination of ten (10) days in advance.
11.2. The Company may immediately, without a subsequent deadline, terminate this Agreement if the Client fails to comply with any provision of this Agreement or fails to fulfill its obligations (clause 9.1. Terms and Conditions) or in the case of imminent insolvency of the Client.
11.3. After the cancellation / termination of this Agreement:
1) All amounts that the Client has to pay immediately to come to maturity, and will be payable including (but not limited to):
First of all due fees, expenses and commissions;
- All trading costs incurred by the termination of this Agreement; and
- all losses and expenses that occurred in the closing of the transaction or the settlement or closing of outstanding obligations to the Company and / or the Third party had to bear.
2) the Third party will apply the best execution practice in cases where the client has not given the Third party specific instructions regarding the closing of the Client's position.
3) The Company will return the remaining funds in the account of the Client with the Company's to the Client’s bank account, in particular the account from which funds were deposited.
11.4. The cancellation / termination will not affect or impair any uncollected right and obligation and transactions which will be further guided by this agreement, and to certain clauses agreed upon between the Client and the Company in respect of such transactions, until all obligations are fully executed.
11.5. The cancellation / termination of the Agreement will be executed via e-mail or registered mail.
- COMMUNICATION WITH COMPANY, records and dealing with complaints
12.1. Client will, unless otherwise specifically agreed, communicate with the Company exclusively through addresses available at http://www.trades.com.
12.2. For the purpose of carrying out all tasks provided for in these Terms and Conditions shall be deemed a notice and other internal communication was received the same day, if sent weekdays during business hours (9:00 - 16:30), except in the case of sending registered mail, for which shall be deemed to have been received on the date of receipt or, if the consignment for any reason cannot be delivered to the addressee by submitting, on the day it left the recipient a notice of arrival of the consignment of the legal entity authorized for shipment delivery.
12.3. By signing the Agreement the Client gives express consent to the Company to exercise any form of communication with the Client the Company may record total or any a specific communication, of which does not have to specifically warn the Client before the start of each individual recording, and recorded conversations and transcripts of recorded conversations made by the Company, may be used as evidence in proceedings verification of data and orders and instructions that the Client sent to the Company, either before a court or other competent authority, or any other purpose related to the exercise of rights and obligations under these Terms and Conditions , contract or any other contract with the Company.
12.4. The records of the Company, unless it can be shown to be wrong, will be evidence of the use of Conditions TRADES. The client will not object to the records of the Company as evidence in any legal proceedings since such records is not original, it is not in writing or document is created by a computer. The client agrees not to use the records of the Company to fulfill its obligations of keeping records, even though the Company may request the Client to provide access to records of the Company relating to the Client.
12.5. The Client is obligated to keep adequate records in accordance with the applicable provisions in order to show the nature of uploaded orders, and the time in which these orders are sent. The customer has access to their reports online at any time via the trading platform. Monthly or quarterly client can ask for the reports via e-mail, by sending such a request to the support.
12.6. The Company complies to the complaint the Client may have in accordance with the Rules of Procedure by customer complaints.
- SALVATORY CLAUSES
13.1. If for any particular part within Terms and Conditions and / or Agreement was subsequently found to be null and void, it will have no effect on other parts of Agreement and Terms and Conditions remain fully valid and in force, provided that the contracting parties will replace the particular invalid part which will be replaced by valid to the fullest extent possible.
- Closing Stipulations
14.1. These Terms and Contract are subjected to Croatian legislation, except the collision norms.
14.2. All disputes arising out of the application of the Agreement and Terms and conditions, the Client and the Company shall be settled by peaceful manner, and in case no agreement is found, the jurisdiction of the competent court in Zagreb is agreed.
I HAVE READ AND UNDERSTOOD CONDITIONS AND WILLLING TO SIGN THIS AGREEMENT