Email: backoffice@deltafx.com
Phone: +41 225 391468
Terms & Conditions

Our terms & conditions

1-DEFINITIONS

In the agreement, unless the context requires, the following words shall be construed as follows:

Access Codes the username and password given by the Company to the Client for accessing the Company’s electronic systems.

Account Activity account details, including executed Transactions, Confirm actions of trades, swap interest credits/debits, cash balance, account equity, used Margin ratio, total realized and unrealized profit and loss, and the remaining amount available for trading.

Account Application the Application to Open an Individual, Joint or Business Trading Account form, which is completed by the Customer through the Website or provided to the Customer in hard-copy form.

Adviser an algorithm in the form of a program based on MT4, which is used to control a Trading Account and give instructions and requests to the Server via the Client Terminal.

Balance the total financial result of all Completed Transactions and deposit /withdrawal operations on the Trading Account and does not unrealized profits and losses.

Base Currency the first currency in the Currency Pair against which the Customer buys or sells the Quote Currency.

Bid the lower price in the Quote being the price at which the Customer may sell. The term Bid is synonymous with Sell.

Business Day any day between Monday and Friday, inclusive, on which the Federal Reserve is open in New York City.

Buy means Offer.

Buy Limit an Order to open a Long Position at a price lowers than the price at the moment of placing the Order.

Buy Stop an Order to open a Long Position at a price higher than the price at the moment of placing the Order.

CFTC the United States Commodity Futures Trading Commission.

CFD Contract Contracts for Differences on spot FOREX, stocks, equity indexes, precious metals or any other commodities available for trading.

Client Terminal the MT4 Pro program, which is used by the Customer to obtain information on financial markets (which content is defined by DeltaFX) in real-time, make Transactions, view account equity, place Orders, as well as to receive notices from DeltaFX.

Complaint (a) a conflict situation where the Customer reasonably believes that DeltaFX as a result of any action or failure to act has breached one or more terms of the Terms of Business; (b) a conflict situation when DeltaFX reasonably believes that the Customer, as a result of any action or failure to act, has breached one or more terms of the Terms of Business; (ca conflict situation where the Customer makes a deal at an Error Quote/Spike, or before the first Quote comes to the Trading Platform on the Market Opening, or at the Quote received by the Customer because a Dealer made a Manifest Error or because of a software failure of the Trading Platform; (d) a Trading Dispute; or (e) any other issue relating to fair and ethical trading through DeltaFX or the Trading Platform.

Completed Transaction two offsetting positions of the same volume.

Contract Specifications principal trading terms (such as Spread, Lot Si e, Leverage, Initial Margin and trading hours) for each Instrument.

Currency Pair a quotation of two different currencies, which is based on the change in the value of one currency against the other.

Customer, a legal entity or an individual is a party to the Customer Agreement with DeltaFX in respect of making Transactions, subject to Margin Trading.

Customer Agreement the agreement between DeltaFX and the Customer, which together govern the terms on which DeltaFX deals with the Customer.

Dealer an employee of DeltaFX who is authorized to execute the Customer’s Orders.

Equity Balance + Floating Profit – Floating Loss. Equity is also referred to as net liquidation value.

Error Quote/Spike an error Quote including, but not limited to, the following characteristics: (a) a significant Price Gap or Spread gap; (b) in a short period of time, the price rebounds with a Price Gap or Spread gap; (c) no rapid price movements at the time of the Quote; and (d) before and immediately after the Quote provided it appears that no important macroeconomic indicators and/or corporate reports are released.

An event of Default has the meaning given in paragraph 17.2 of the Customer Agreement.

The fast Market rapid movement s on the market for a short period of time often causing Price Gaps. Generally, it occurs immediately before or after an important event which influences price movements, including (a) releases of main macroeconomic indicators on global economies, which have great impact on the financial market; (b) central banks decisions on interest rates; (c) press conferences and speeches of the central banks heads, heads of state, financial ministers and other significant announcements; (d) interventions; (e) terror attacks; (f) natural disasters or other acts of God which cause the announcement of the state of emergency (or other restrictive measures) on the affected territories; (g) war or any other military actions; or (h) political force majeure: dismissal or appointment (including electronic results) of the government executives.

FIFO Rule ‘first in, first out’ or a rule which requires that the position which was first opened be the first position closed when multiple positions are held in the same Currency Pair.

Floating Loss current or unrealized loss on Open Positions calculated at the current Quotes.

Floating Profit current or unrealized profit on Open Positions calculated at the current Quotes.

Forex means foreign exchange.

Force Majeure Event the following: (a) any act, event or occurrence (including, without limitation, any strike, riot or civil commotion, terrorism, war, act of God, accident, fire, flood, storm, interruption of power supply, electronic, communication equipment or supplier failure, civil unrest, statutory provisions, lock-outs) which, in DeltaFX ‘s reasonable opinion, prevents DeltaFX from maintaining an orderly market in one or more of the Instruments; (b) the suspension, liquidation or closure of any market or the abandonment or failure of any event to which DeltaFX relates its Quotes; or (c) the imposition of limits or special or unusual terms on the trading in any such market or on any such event.

Free Margin funds on the Trading Account, which may be used to open a position. It is calculated as Equity less Margin.

Initial Margin the margin required by DeltaFX to open a position. The details for each Instrument are in the Contract Specifications.

Instant Execution the mechanism of providing Quotes to the Customer without a prior request. The Customer may make a Transaction anytime the Customer sees the Quotes Flow, provided by DeltaFX, in real-time.

Instrument any Currency Pair.

Leverage the use of Margin to increase potential returns. Leverage is generally referred to as a ratio relating to the Transaction Size and Margin (for example, a 1:20, 1:25, 1:40, 1:50, or 1:100 ratio). A 1:100 ratio means that, in order to open a position, the Margin required is one hundred times less than the Transaction Size.

Limit Order an Order to buy or sell at a set quantity at a specified price or better.

Long Position a Buy position that appreciates in value if market prices increase.

Lot means a unit of Base Currency in the Trading Platform.

Lot Size the number of units of the underlying assets or Base Currency in one Lot defined in the Contract Specifications.

Manifest Error 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 respect of the prices which are significantly different from the market prices.

Margin the margin required by DeltaFX to maintain an Open Position. The Margin applicable to each Instrument is specified in the Contract Specifications.

Маrgin Level the percentage or ratio of Equity to Necessary Margin. It is calculated as (Equity / Necessary Margin) multiplied by 100%.

Margin Trading Leverage trading when the Customer may make Transactions having far fewer funds on the Trading Account in comparison with the Transaction Size.

Market Opening the time at which the market opens after weekends, holidays or trading sessions time gaps.

Market Order an Order to buy or sell which is immediately executed at the current market price.

NFA the United States National Futures Association.

Normal Market Conditions the market where there are no: (a) considerable breaks in the Quotes Flow in the Trading Platform; (b) fast price movements; and (c) Price Gaps.

OCO (or One Cancels Other) the submission of two Orders where, if one Order is executed, the other Order is immediately canceled.

Offer the Ask price or the higher price in the Quote being the price at which the Customer may The term Offer is synonymous with Buy.

Open Position a Long Position or a Short Position which is not a Completed Transaction.

One-Click Trading an execution-style where a Market Order can be immediately placed,

confirmed and executed by clicking one time the Offer or Bid price listed for the Currency Pair.

Order an instruction from the Customer relating to opening, offsetting/closing, modifying, and deleting or otherwise executing a position on the Trading Platform.

Order ID the unique identification number assigned to each Order placed through or on the Trading

Order Reference Guide the guide containing information about the Order types available on the Trading Platform. This information is displayed on https://www.DeltaFX.com/

OTC the over-the-counter market where contracts are not traded on an organized exchange.

Payment Instructions details for depositing funds to the Trading Account. Payment Instructions can be found on DeltaFX Web site.

Pending Order a resting order or an instruction to open a position once the price has reached the level of the Order.

Price Gap a considerable amount of price distance within an Instrument.

Quote the current price for a specific Instrument in the form of Bid and Offer prices.

Quote Currency the second currency in the Currency Pair which can be bought or sold by the Customer for the Base Currency.

Report/Trade Summary the file created by the Server, which records accurately to a second all Orders sent by the Customer to DeltaFX as well as the results of their execution.

Risk Disclosure Statement the risk disclosure statement included in paragraphs 1 and 2 of

Sell means Bid.

Sell Limit an Order to open a Short Position at a price higher than the price at the moment of placing the Order.

Sell Stop an Order to open a Short Position at the price lowers than the price at the moment of placing the Order.

Server the MT4 Pro server program. This program is used to execute the Customer’s Orders and provide trading information in real-time mode (the content is defined by DeltaFX), subject to the mutual liabilities between Customer, the Forex Customer Agreement and its Terms.

Services the services provided by DeltaFX to the Customer as set out in the Agreement.

Short Position a Sell position that appreciates in value if market prices fall.

Spread the difference between Bid and Offer.

Stop Limit an Order which becomes a Limit Order after a price specified by the Customer has been reached or passed.

Stop Loss a Pending Order which becomes a Market Order if the Bid or Offer for a Currency Pair reaches the predefined stop price. This Order Type is designed to limit a trader’s loss on a position.

Stop Order an Order to buy or sell a certain quantity if a specified price (the stop price) is reached or passed. The Order becomes a Market Order once the stop price specified is reached.

Stop Out offsetting/closing Open Positions without the consent of the Customer or without any prior notice to the Customer where there are insufficient funds to maintain the Open Positions.

Storage Swap the funds are withdrawn or added to the Client’s account for the prolongation (transfer) of an open position to the next day.

Streaming Quotes the stream or flow of Quotes in the Trading Platform for each Instrument.

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.

Terms have the meaning set forth in paragraph 1.1 of Exhibit A, Terms of Business for MT4 Pro.

Thin Market the market in which the Quotes in the Trading Platform are rare as opposed to the Normal Market Conditions.

Trading Account the unique personified registration system of all Completed Transactions, Open Positions, Orders and deposit/ withdrawal transactions in the Trading Platform.

Trading Dispute a complaint or grievance relating to a Transaction or trade submitted, deleted, modified, offset/closed or executed on the Trading Platform or otherwise handled by DeltaFX.

Trading Platform all programs and technical facilities which: (a) provide real-time Quotes; (b) allow Transactions to be made; (c) allow Orders to be placed, modified, deleted, offset and executed; and (d) calculate all mutual obligations between the Customer and DeltaFX. The trading platform consists of the Server and the Client Terminal.

Trailing Stop a complex Stop Loss Order where the Stop Loss price is set at a fixed percentage or number of points below the market price. On a Buy Order, if the market price rises, the Stop Loss price rises proportionately. If the price falls, the Stop Loss price does not change.

Transaction any type of transaction effected in the Client’s trading account(s) including but not limited to Deposit, Withdrawal, Open Trades, Closed Trade s, Transfers between other accounts which belong to the Client or an authorized representative.

Transaction Size Lot Size multiplied by the number of Lots.

2-Communication

2.1. Transmission of Reports, Statements, Notices, and Other

Communications. Reports, statements, notices and any other communications from DeltaFX will be made available by display electronically via DeltaFX Trading Platform, or may be transmitted electronically via e-mail or sent to the mailing address listed in the application, via U.S. mail or to such other address as the Customer may from time to time designate in writing to DeltaFX. All communications so made available or sent, whether by mail, display electronically, telegraph, messenger, e-mail, fax or otherwise, shall be deemed transmitted by DeltaFX when deposited in the United States mail, or when received by a transmitting agent or posted in DeltaFX Trading Platform or Website and are thus available for the Customer’s electronic access, or when e-mailed or faxed, and will also be deemed delivered to the Customer personally, whether actually received or accessed by the Customer or not. The Customer shall notify DeltaFX immediately of any change in the Customer’s address by e-mail to ib@DeltaFX.com. All communications sent by the Customer shall not be deemed effective until accepted by DeltaFX.

2.2 Consent to Other Communications. The Customer expressly invites DeltaFX, for the purpose of marketing financial services and products, from time to time, to make direct contact with the Customer by telephone, facsimile or otherwise. The Customer consents to such communications and agrees that the Customer will not consider such communication a breach of any of the Customer’s rights under any relevant data protection and/or privacy regulations. The Customer may opt out of receiving such communications by sending DeltaFX an e-mail at ib@DeltaFX.com

3- RELATIONSHIP BETWEEN THE COMPANY AND THE CLIENT

3.1 The Company reserves the right to use, employ or appoint third qualified and duly trained person for the purpose of mediating in the execution of orders and the conclusion of transactions for the Client.

3.2 The Company declares that it takes all necessary measures, where possible, in order to anticipate or solve any conflicts of interest between, on the one hand, itself and its associated persons and clients and on the other hand, between its clients. However, the Company draws the Client’s attention to the following possibilities of a conflict of interest.

3.3 The Company and/or any associated company and/or any company which is a member of the group of companies to which the Company belongs to, might:

Enter itself into an agreement with the Client in order to execute his Order;

Be an issue of the Financial Instruments in which the Client wishes to conclude a transaction act on its behalf and/or for another client as a purchase and/or seller and may have an interest in the Financial Instruments of the issuer in which the Client wishes to conclude a transaction;

Act as the market maker, consultant, and investment manager and/or have any trading or other relationship with any issuer;

Pay a fee to third persons who either recommended the Client to the Company or who mediated in any way so that the Client’s Orders are forwarded to the Company for execution.

4- Client Classification

For the purposes of the services provided by DeltaFX under these Terms of business, we will act as principal and not as agent on your behalf. We shall treat you as a Retail Client, subject to the following:

a-if you satisfy the definition of Professional Client or Eligible Counter-party, we may notify you that we will treat you as such and the terms detailed in Schedule 1 shall apply; and

b- You may request a different client classification from the one we have to allocate d to you, but please be aware that we may decline such a request. If you do request a different categorization and we agree to such a request, you may lose the protection afforded by certain FSA Rules, a summary of these lost protections can be found in Schedule 1. This may include, but is not limited to:

I- The requirement for us to act in accordance with your best interests;

II- Our obligation to provide appropriate information to you before providing our services;

III- The restriction on the payment or receipt by us of any inducements;

IV- Our obligation to achieve the best execution of your orders if you are classified as an Eligible Counter-party only;

V- The requirement to implement procedures and arrangements which provide for the Prompt, fair, and expeditious execution of your orders;

VI- Our obligation to ensure that all information we provide to you is fair, clear and not misleading; and

VII- the requirement that you receive from us adequate reports on the services provided to you.

5- IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

5.1. DeltaFX recognizes that the USA PATRIOT Act, as amended from time to time (the “Act”), imposes important obligations on all financial firms for the detection, deterrence, and reporting of money laundering activities. Under the Act, money laundering is defined as any financial transaction using income derived from criminal activity including, but not limited to, drug trafficking, fraud, illegal gambling, and terrorism. DeltaFX has established the following policies to ensure compliance with all laws and regulations regarding money laundering.

5.2. Prior to the opening of any new Trading Account, DeltaFX will document the identity, nature of business, income, the source of funds, and investment objectives of each prospective customer. Therefore, DeltaFX will request the Customer’s driver’s license number, passport number and may request copies of the Customer’s identifying documents.

5.3. On an on-going basis, DeltaFX will review Trading Account activity for evidence of transactions that may be indicative of money laundering activities. This review may include surveillance of: (a) money flows into and out of Trading Accounts, (b) the origin and destination of wire transfers, (c) non-economic transactions, and (d) other activity outside the normal course of business. Every officer, employee and associated person of DeltaFX is responsible for assisting in the firm’s efforts to uncover and report any activity that might constitute, or otherwise indicate or raise suspicions of, money laundering. To this end, DeltaFX provides continuing education and training of all such persons.

5.4. DeltaFX will comply with all trade and economic sanctions imposed by the U.S. Office of Foreign Assets Control against targeted foreign countries and shall cooperate fully with government agencies, self-regulatory organisations, and law enforcement officials. As provided by the Act, DeltaFX may supply information about former, current or prospective customers to such bodies.

6-IMPORTANT INFORMATION ABOUT DeltaFX PRIVACY POLICY

6.1. Privacy Policy. Maintaining the privacy of Customer personal information is of utmost importance to DeltaFX. In order to provide Services to the Customer, DeltaFX must maintain certain information about the Customer that it collects from Account Applications or other forms completed by the Customer , transactions that the Customer conducts with DeltaFX (and its Affiliates) and the Customer’s communications with DeltaFX (and its Affiliates) and information DeltaFX receive s from third parties such as credit reporting agencies. It is DeltaFX policy not to disclose personal information that it collects about the Customer to third parties except as permitted by law or requested by the Customer. DeltaFX also restricts access to non-public personal information to those employees who need to know that information to provide Services to the Customer. DeltaFX maintains physical, electronic and procedural safeguards to protect the Customer’s personal information. These safeguards include limiting access to data and periodically testing its security technology. The Customers welcome to contact DeltaFX at +442079792059 if the Customer has any questions regarding this Privacy Policy. DeltaFX reserves the right to revise this Privacy Policy, but will not do so without notice to the Customer.

CLIENT ACCOUNTS

7.1 All amounts handed over by the Client to the Company or which the Company holds on behalf of the Client, for the provision of Investment Services as in paragraph 2, shall be held in the name of the Client and/or in the name of the Company on behalf of the Client in an account with any bank, other institution or any electronic payment providers/processors used to accept funds which the Company shall specify from time to time (“the ‘Bank Account’).

7.2 Upon signing the Agreement, the Client authorises the Company to make a y deposits and withdrawals from the Bank Account on his behalf including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Agreement and all amounts which are payable by or on behalf of the Client to the Company or any other person.

7.3 Unless the Parties otherwise agree, in writing, any amount payable by the Company to the Client, shall be paid directly to the Client.

7.4 The Company may, at its discretion, from time to time and without the Client’s authorization, set-off any amounts held on behalf and /or to the credit of the Client against the Client’s obligation to the Company and/or merge any accounts of the Client with the Company. Unless otherwise agreed in writing by the Company and the Client, this Agreement shall not give rise to rights or credit facilities.

7.5 The Client has the right to withdraw the funds, which are not used for margin covering, free from any obligations from his sub-account without closing the said sub-account.

7.6 Money transfer request (withdrawal from the trading account) is processed within three working days after receiving from the Client transfer request instructions. Then the transferring amount reduces the balance of the Client’s sub-account when the transfer request process is concluded. The Company reserves the right to decline a withdrawal request if the request is not in accordance with paragraph 7.9 or delay the processing of the request if not satisfied on full documentation of the Client.

7.7 The Client agrees to pay any incurred bank transfer fees/charges charged by the Bank Account providers, the Company or any other intermediary involved in such transaction process when withdrawing funds from his sub-account to his designated account held in any of the providers specified in paragraph 7.1 above. The Client is fully responsible for payments details, given to the Company and the Company accepts no responsibility for the Client’s funds, if the Client’s given details are wrong.

7.8 The Client agrees that any amounts sent by the Client or on the Client’s behalf in the Bank Accounts, will be deposited (credited) to the Client’s trading account at the value date of the payment received and net of any charges / fees charged by the Bank Account providers, the Company or any other intermediary involved in such transaction process. The Company must be satisfied that the sender is the Client or an authorized representative of the Client before making any amount available to the Client’s trading account, otherwise, the Company reserves the right to refund/send back the net amount credited to the account by the same method as received. It is also understood that the Company accepts no responsibility for any funds not deposited directly into Company’s bank accounts.

7.9 Withdrawals should be made using the same method used by the Client to fund his trading account and to the same account. The Company reserves the right to decline a withdrawal with specific payment method and suggest another payment method where the Client needs to proceed with a new withdrawal request, or request further documentation while processing the withdrawal request. If the Company is not satisfied with any documentation provided by the Client will reverse the withdrawal transaction and deposit the amount back to the Client’s trading account net of any charges/fees charged by the Bank Account providers, the Company or any other intermediary involved in such transaction process.

7.10 In the event that any amount received in the Bank Accounts is reversed by the Bank Account provider at any time and for any reason, the Company will immediately reverse the affected deposit from the Client’s trading account net of any charges / fees charged by the Bank Account providers, the Company or any other intermediary involved in such transaction process and reserves the right to reverse any other type of transactions effected after the date of the affected deposit. It is understood that these actions may result in a negative balance in all or any of the Client’s trading account(s).

7.11 The Client agrees that in case of such a negative balance in any of the Trading account of the Client, the Company can transfer such an amount from any other trading account of the Client to that account to cover the negative balance, and the client agrees to pay any charges imposed by the Company for such transfer between the trading accounts of the client. Furthermore, it is understood and accepted by the Client that in case there are no sufficient amounts to cover for the negative balance the Company reserves the absolute right to terminate this agreement with 24H notice through the internal mail and claim the amount of negative balance and any expenses it might occur.

7.12 The Client agrees to waive any of his rights to receive any interest earned in the money held in bank accounts and consents that the Company will benefit for such an interest earned to cover registration /general expenses/ charges/fee s and interest related to the administration and maintenance of the bank accounts. Such expenses will not be passed over to the Clients what so ever.

7.13 In the event that the Client requests any refund or return of a previously accepted incoming transaction, the Company should act upon the Client request and refund or return to the Client the net amount received of the said request and before such return or refund is effected the Company shall deduct any losses made or charges incurred on the Client’s Trading Account.

7.14 All financial requests (deposits/withdrawals) should be performed through the Company’s supporting website (www.DeltaFX.com). The Company should make every effort to inform its clients before performing any of the above financial requests any charges/fees charged by the Bank Account providers, the Company or any other intermediary involved in such a transaction process, as well as the expected processing time and any further documentation which if not in place,  may delay the processing of the transaction.

8- Charges and Payments

8-1 Charges: You will pay our charges as agreed with you from time to time or w may deduct such charges from any funds held by us on your behalf.

8-2 Currency indemnity: If we receive or recover any amount in respect of an obligation of yours in a Currency other than that in which such amount was payable, whether pursuant to a judgement of any court or otherwise, you shall indemnify us and hold us harmless from and against any cost (including costs of conversion) and loss suffered by us as a result of receiving such amount in a Currency other than the Currency in which it was due.

8-3 If you direct DeltaFX to enter into any Currency Transaction:

I- Any profit or loss arising as a result of a fluctuation in the exchange rate affecting such Currency will be entirely for your account and risk.

II- DeltaFX is authorized to convert funds in your Account for Margin into and from such foreign Currency at a rate of exchange determined by DeltaFX on the basis of the prevailing money Market rates. In such circumstances, DeltaFX will not be liable to you for any loss suffered by you as a result of such action (although, DeltaFX will use reasonable endeavors to only convert such funds as may prudently be required to cover the position in respect of the relevant transaction).

8-4 Payments and deliveries net: Unless we give you written notice to the contrary, all payments and deliveries between us shall be made on a net basis and we shall not be obliged to deliver or make payment to you or both (as the case may be ) unless and until we have received from you the appropriate documents or cleared funds.

8-5 Remuneration and sharing charges: We may receive remuneration from, or share charges with, an Affiliate or other third parties in connection with Transactions carried out on your behalf. Details of such remuneration or sharing arrangements will be made available to you on written request.

8-6 Dormancy Fee: If there are no filled Orders in your account for at least one (1) year, you will be subject to a dormant account fee (the “Fee”), in return for administrative and information services and/or access provided by DeltaFX to active accounts. The Fee will be equal to the lesser of the remaining balance in your account or 50.00 units of the currency in which your account is denominated (JPY 5,000 for JPY denominated accounts). You will be subject to the Fee on a yearly basis thereafter if the conditions stated above are met. If you are assessed the Fee and your account balance becomes zero (0), your account will automatically be closed.

8-7 Active Trader Fee: If you choose to use DeltaFX Active Trader Platform, you agree to pay a commission charge of fifty U.S. dollars ($50 USD) per million base currency traded, per side.

a- You are responsible for all taxes (UK or foreign) that may arise in relation to a Transaction, whether undercurrent or changed law or practice. We shall have no responsibility for any of your tax liabilities, or for providing information or advice in respect of such liabilities and shall not be responsible for notifying you of a change in tax law or practice.

b- In the event that we become liable to pay any tax on your behalf arising from or incidental to Transactions executed by you with us you shall reimburse us on demand in full for the amount of such tax paid by us. In the event that we become liable to pay any stamp duty, stamp duty reserve tax or any other similar documentary tax or duty in any jurisdiction (collectively “Stamp Duty”) in respect of any shares purchased or otherwise acquired by us or an Affiliate in order to hedge any Margined Transaction between us and you, you shall reimburse us on demand in full for the amount of such Stamp Duty paid by DeltaFX.

c- You shall indemnify us (the “Indemnified Party”) and keep the Indemnified Party indemnified from and against all costs, claims, demands and expenses arising in connection with (I) any failure by you to reimburse the Indemnified Party in accordance with clause 8.1 and 8.2 of these Terms of Business and any late payment or non-payment of any tax or Stamp Duty payable by you in respect of Transaction executed by you with the Indemnified Party.

PAYMENTS, FUNDS TRANSFER, AND APPLICABLE CHARGES

9.1. Payments. All payments to DeltaFX shall be made in accordance with Payment Instructions set forth on DeltaFX Website. All incoming payments shall generally be credited to the Customer’s Trading Account no later than one (1) Business Day after funds are cleared by the DeltaFX bank. All payments or withdrawals may be subject to charges. DeltaFX fee schedule can be found on the Website. If the Customer gives an instruction to withdraw funds from the Customer’s Trading Account, DeltaFX shall pay the specified amount within one(2) Business Days once the instruction has been accepted, if the following requirements are met: (a) the withdrawal instruction includes all necessary information; (b) the instruction is to make a bank transfer to the Trading Account of the Customer (under no circumstances will payments to third party or anonymous trading accounts be accepted); and (c) at the moment of payment, the Customer’s Free Margin exceeds the amount specified in the withdrawal instruction including all payment charges. DeltaFX shall debit the Customer’s Trading Account for all payment charges. The Customer may withdraw funds from the Trading Account at any time in accordance with the paragraph. If the Customer has the obligation to pay any amount to DeltaFX which exceeds the Trading Account Equity the Customer shall pay the amount of excess forthwith upon the obligation arising. The Customer acknowledges and agrees that (without prejudice to any of DeltaFX other rights under the Agreement to close out the Customer’s Open Positions and exercise other default remedies against the Customer), where a sum is due and payable to DeltaFX in accordance with the Agreement and sufficient cleared funds are not yet credited to the Customer’s Trading Account, DeltaFX shall be entitled to treat the Customer as having failed to make a payment to DeltaFX and to exercise its rights under this Agreement.

9.2. Charges. DeltaFX may charge brokerage or management fees (including introducing broker, currency trading adviser or money management fees), commissions, mark-ups, and markdowns, performance fees, or DeltaFX may be compensated for its Services through the Bid/Ask Spread, and/or on a per trade or other basis. DeltaFX may charge for incidental banking-related fees such as wire charges for deposits/withdrawals and returned check fees and inactivity fees. DeltaFX reserves the right to change its fee structure at any time without notice. Fees do not currently, but may in the future include such things as statement charges, order cancellation charges, account transfer charges, telephone order charges or fees imposed by any inter-bank agency, bank, contract, market or other regulatory or self-regulatory organization arising out of DeltaFX provision of services hereunder. The Customer may incur additional fees for the purchase of optional, value-added services offered by DeltaFX. DeltaFX fee schedule can be found on the DeltaFX Website.

9.3. Authorization to Transfer Funds. The Customer hereby agrees that DeltaFX may, at any time and from time to time, in its sole discretion, without prior notice to the Customer apply or transfer any of the Customer’s funds, held either individually or jointly with others, interchangeably between any of Customer’s Trading Account(s) at DeltaFX or an Affiliate of DeltaFX as DeltaFX may consider necessary to satisfy Margin requirements, reduce any deficit or debit balance in any of Customer’s Trading Account(s), or protect DeltaFX. DeltaFX will confirm such application or transfer within a reasonable time thereafter.

Methods of Fund Deposit to the Client’s Account

10-1. Bank Transfer

10.1.1. The Client may deposit to an Account through bank transfer at any time, provided that this method is supported by the Company at the moment the transfer is executed.

10.1.2. This transfer method shall be available for the Client’s use once the Company has been provided the signed Client Registration Form and a copy of the Client’s passport.

10.1.3. The Client understands and accepts that the Company shall not hold responsibility for the time required to execute a bank transfer.

10.2. Bank Transfer (RUR).

10.2.1. The Client understands and accepts that the Company shall have the right to decline a transfer if the requirements for the transfer, as specified in DeltaFX, are violated.

10.2.2. Before carrying out a bank transfer (RUR) the Client shall be obliged to check the bank details and purpose of payment in DeltaFX.

10.2.3. The Company shall have the right to deny the deposit of funds, transferred to the Company’s RUR Account, if the purpose of payment differs from that specified in DeltaFX, or if funds have been transferred from a third party. In this case, the Company shall return the funds to the bank account from which they were transferred. All costs incurred by returning the funds shall be at the Client’s expense.

10.2.4. The Client understands and accepts that the Company shall not hold responsibility for the time required to execute a bank transfer.

10.3. Electronic Transfer.

10.3.1. The Client may deposit to an Account through electronic transfer at any time, provided that this method is supported by the Company at the moment the transfer is executed.

Methods of Fund Withdrawal from the Client’s Account.

11.1. Bank Transfer.

11.1.1. The Client may send a “Withdrawal Request” for a bank transfer at any time, provided that this method is supported by the Company at the moment the transfer is executed.

11.1.2. The Client may only fill out the “Withdrawal Request” to be transferred to the Client’s own bank account. Requests filled out to be transferred to bank accounts of third parties shall be declined by the Company.

11.1.3. The Company shall be obliged to transfer money to the bank account of the Client in accordance with the details provided in the “Withdrawal Request”, provided that the conditions in clause 11.1.2 of these Regulations are observed.

11.1.4. When transferring funds, the Company shall indicate the payment details as provided in DeltaFX. In the case that the payment details are changed, the Company shall be obliged to inform the Client about the new payment details immediately by publishing them in DeltaFX.

11.1.5. The Client understands and accepts that the Company shall not hold responsibility for the time required to execute a bank transfer.

11.2. Electronic Transfer.

11.2.1. The Client may send a “Withdrawal Request” for an electronic transfer at any time, provided that this method is supported by the Company at the moment the transfer is executed.

11.2.2. The Client may fill out the “Withdrawal Request” to be transferred to the Client’s own electronic account or to the electronic account of the Client’s Authorised Person.

11.2.3. The Company shall be obliged to transfer money to the Client’s electronic account in accordance with the details provided in the “Withdrawal Request”.

11.2.4. The Client understands and accepts that the Company shall not hold responsibility for the time required to complete an electronic transfer and that circumstances, resulting in a technical failure when making a transfer occur not at the fault of the Company, but at the fault of the electronic payment system.

11.3. Internal Fund Transfer.

11.3.1. The Client may send the “Internal Fund Transfer Request” at any time, provided that this method is supported by the Company supports at the moment the transfer is executed.

11.3.2. The Client may fill out an “Internal Fund Transfer” request to another account (trading or transitory) registered in his/her name. “Withdrawal Requests” to the accounts of third parties shall not be executed by the Company.

11.3.3. When transferring funds internally from a Client Account that was deposited to with a credit/debit card, using the Money bookers system or if the account has a set “Withdrawal Restriction”, these restrictions will be transferred onto the other Client Account on which the internal transfer is deposited.

11.3.4. If a Company employee should make a mistake when carrying out an internal transfer, which results in funds being credited to the wrong account, the sum of the request shall be indemnified to the Client at the Company’s expense.

11.3.5. If the Client should make a mistake when filling out the “Internal Fund Transfer Request”, which results in funds being credited to the wrong account, the sum of the request shall not be indemnified to the Client.

TRADING

12.1. Customer Instructions. The Customer authorises DeltaFX to purchase and sell cash settled Instruments on a “Spot” basis for the Customer’s Trading Account in accordance with the Customer’s Instructions received through the DeltaFX Trading Platform or via telephone to the DeltaFX trading desk, subject to the terms of this Agreement, including the Exhibit(s) hereto and the Account Application, including any applicable addenda thereto. The Customer agrees to be conclusively responsible for any Instruction received electronically that is identified with the Customer’s password and Trading Account number and for any electronic, oral and written instruction (including, but limited to any Order) to DeltaFX from persons DeltaFX, in its sole judgment, believes are apparently authorized by the Customer to enter Orders on behalf of the Customer. If the Customer’s Trading Account is titled as a joint account, DeltaFX is authorized to act on the Instructions of any one owner, without further inquiry, with regard to trading in the Trading Account and the disposition of any and all assets in the Trading Account. DeltaFX shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any actions taken or failed to be taken by DeltaFX in reliance on any such Instructions or on the apparent authority of any such persons.

12.2. Pricing Information. Quotes and valuations for Currency Pairs are set by DeltaFX and may be different from Quotes reported elsewhere. DeltaFX will provide Quotes to be used in trading, valuations of the Customer’s positions and determination of Margin requirements. Although DeltaFX expects that these Quotes will be reasonably related to prices available in the inter-bank market, Quotes reported by DeltaFX may vary from Quotes available to banks and other counter-parties in what is known as the inter-bank market. In addition, although DeltaFX reasonably expects to make available via DeltaFX Trading Platform continuous Quotes during Business Hours, because of a number of factors including but not limited to technology failures, communication system delays, lack of inter-bank liquidity or high market volatility, DeltaFX makes no warranties that dealing Quotes and liquidity will be available continuously to the Customer either electronically or via the telephone or by any other communication device.

12.3. Order Execution. DeltaFX will attempt to execute all Orders that it may, in its sole discretion, accept from the Customer in accordance with the Customer’s Instructions received through the DeltaFX Trading Platform or via telephone to the DeltaFX trading desk. In cases where the prevailing market represents Quotes different from the Quotes DeltaFX has posted on its screen, DeltaFX will attempt, on a best efforts basis, to execute trades on or close to prevailing market prices. This may or may not adversely affect the Customer’s realized and unrealized gains and losses. All contracts made and entered into by DeltaFX hereunder will be entered into by DeltaFX as principal. The Customer acknowledges, understands and agrees that DeltaFX is not acting as a broker, intermediary, agent, and advisor or in any fiduciary capacity. Notwithstanding the provisions of this Paragraph, the Customer acknowledges, understands and agrees that all non-market Orders, including, but not limited to, Limit Orders, Stop Loss Orders, One Cancels the Other Orders, Day Orders, and Good till Cancelled Orders, are accepted by DeltaFX and undertaken on a “best-efforts basis” in accordance with the relevant provisions of the Terms, as amended from time to time. But DeltaFX doesn’t warranty order on the weekend when the market open with a gap.

12.4. Trade Matching. DeltaFX or its Affiliates may, at a future date, establish a trade matching system or determine to route the Customer’s Orders to a trade matching system operated by third parties. In that event, DeltaFX, and/or any one or more of its Affiliates, shall have the right (but not the obligation), in the sole discretion of DeltaFX or any such Affiliate, to act for its own account, and as a counterparty or as a broker to DeltaFX Customers, in the making of markets and the purchase and sale of Currency Pairs via any medium, including without limitation, over any trade matching network in use by DeltaFX Customers and/or the general public.

12.5. Transmission. DeltaFX shall have no responsibility for delays in the transmission of Orders due to disruption, failure or malfunction of communications facilities and shall not be liable for any claims, losses, damages, costs or expenses, including attorneys’ fees, to any person or entity arising other than as a direct result of DeltaFX gross negligence.

12.6. Position & Trading Limits. DeltaFX reserves the right to limit the number of Open Positions that the Customer may enter or maintain in the Customer’s Trading Account at DeltaFX and reserves the right, in its sole discretion, to refuse to accept any Order opening a new Position or increasing an Open Position.

12.7. Disclaimer of Duties. DeltaFX is under no obligation unless otherwise agreed to in this Agreement, to monitor or advise the Customer on the status of any Transaction; to make Margin calls, or to close out any of the Customer’s Open Positions. Unless otherwise specifically agreed, DeltaFX does not owe the Customer the duty of best execution.

12.8. Trading Confirmations. statements for the Customer’s Trading Accounts are made available displayed electronically via DeltaFX Trading Platform and shall be deemed correct and shall be conclusive and binding upon the Customer if not objected to immediately after they become accessible by the Customer, or immediately upon receipt if sent by e-mail, fax or mail and confirmed in writing within one Business Day after such transmittal or availability to the Customer electronically, by mail or otherwise. Margin calls shall be conclusive and binding unless objected to immediately by telephone, e-mail, fax or by wire. Written objections on the Customer’s part shall be directed to DeltaFX Compliance Department at 14 Wall Street, Suite 5H, New York, New York 10005 and shall be deemed received only if: actually delivered or mailed by registered mail, return receipt requested; or sent by facsimile, any form of standard telecommunication or other electronic means, confirmed by telephone to an officer or other representative of the recipient. Failure to object shall be deemed ratification of all actions taken by DeltaFX or DeltaFX agents prior to the Customer’s receipt of said reports. The Customer’s failure to receive or to electronically access a trade confirmation or statement shall not relieve the Customer of the obligation to object as set forth herein.

MARGIN

13.1. The Customer shall provide and maintain with DeltaFX Margin and/or additional Margin in such limits as DeltaFX, in its sole discretion, may require from time to time. Such sums of money shall be paid to DeltaFX. It is the Customer’s responsibility to ensure that the Customer understands how Margin is calculated. Such Margin requirements may exceed Margins required by a counterparty bank or institution. DeltaFX may change Margin requirements at any time. The Customer agrees to deposit by any payment means accepted under DeltaFX policy such additional Margin when and as required by DeltaFX, and will promptly meet all Margin calls in such mode of transmission as DeltaFX in its sole discretion shall designate; provided, however, that notwithstanding any demand for additional Margin, DeltaFX may at the same or any time proceed to liquidate the Customer’s Trading Account in accordance with this Agreement and any failure by DeltaFX to enforce its rights hereunder shall not be deemed a waiver by DeltaFX to enforce its rights thereafter. No previous Margin requirement of DeltaFX shall preclude DeltaFX from increasing that requirement without prior notice. In the event that additional margin is due to DeltaFX, DeltaFX shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control of DeltaFX including, without any limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of Orders and/or information due to a breakdown in or failure of any transmission or communication facilities, irrespective of whether any such facilities are owned or provided by DeltaFX.

ORDERS- INSTRUCTION

14.1 The Company will, in certain circumstances, accept instructions, by telephone or in person, provided that the Company is satisfied, at its full discretion, of the caller’s/Client’s identity and clarity of instructions. In case of an order received by the Company in any means other than through the electronic Trading Platform, the order will be transmitted by the company to the electronic Trading Platform and processed as if it was received through the Electronic Trading Platform.

The Company reserves the right, at its discretion, to confirm in any manner the instruction and/or Orders and/or communications sent through the Communication System. The Client accepts the risk of misinterpretation and/or mistakes in the instructions and/or Orders sent through the Communication System, regardless of how they have been caused, including technical and/or mechanical damage.

The Client has the right to authorise a third person to give instructions and/or orders to the Company or to handle any other matters related to this agreement, provided that the Client has notified the Company in writing, of exercising such a right and that this person is approved by the Company fulfilling all of Company’s specifications for this. Unless the Company receives a written notification from the Client for the termination of the said person’s authorization, the Company will continue accepting instructions and/or orders given by this person on behalf of the Client and the Client will recognize such orders as valid and committing. The above-written notification for the termination of the authorization to a third party has to be received by the Company with at least 2 days’ notice.

Once the Client’s instructions or Orders are given to the Company, they cannot be revoked. Only in exceptional circumstances, the Company may allow the Client to revoke or amend the relevant instruction or Order. The Company has the right to proceed to a partial execution of the Client’s Orders.

14.2 The transaction (opening or closing a position) is executed at the “BID” / “A K” prices offered to the Client. The Client chooses a desirable operation and makes a request for the transaction confirmation by the Company. The transaction is executed at the prices the Client can see on the screen. Due to the high volatility of the markets during the confirmation process, the price may change, and the Company has the right to offer the Client a new price. In the event, the Company offers the Client a new price the Client, can either accept the new price and execute the transaction or refuse the new price, thus cancel the execution of the transaction.

14.3 The Client, using electronic access, can give only the following orders of trading character:

OPEN – to open a position;

CLOSE – to close an open position;

III. To add, remove; edit orders for Stop Loss, Take Profit, Buy Limit and Buy Stop.

Any other orders are unavailable and are automatically rejected. The confirmed open or closed position cannot be canceled by the Client.

Orders can be placed, executed; changed or removed only within the operating (trading) time and shall remain effective through the next trading session. The Client’s Order shall be valid in accordance with the type and time of the given Order, as specified. If the time of validity of the order is not specified, it shall be valid for an indefinite period. The status of the orders is always shown in the client’s online Trading Platform. In the event that access to the online Trading Platform is not possible, then Clients may contact the Company by telephone (as described in paragraph 5.10 above) and request the status of any of their pending orders.

14.4 The Company shall not be held responsible in the case of delays or other errors caused during the transmission of orders and/or messages via computer, as well as for damage which may be caused by the non-validity of securities, or a mistake in the bank account balance of the Client. The Company shall not be held responsible for information received via computer or for any loss which the Client may incur in case this information is inaccurate.

14.5 The Company reserves the right to change the opening/closing price (rate) and/or size and/or number of the related transaction (and/or the level and size of any Sell Limit, Buy Limit, Sell Stop, Buy Stop order) in case of an underlying asset of the Financial Instrument becomes subject to possible adjustment as the result of any event set out in Clause 15.7 below (hereinafter called a “Corporate Event”). This operation is applied exclusively to securities and has a meaning to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event. All actions of the Company according to such adjustments are conclusive and binding upon the Customer. The Company shall inform the Customer of any adjustment as soon as reasonably practicable.

14.6 While a Client has any open positions on the ex-dividend day for any of underlying asset of the Financial Instrument, the Company reserves the right to close such positions at last price of the previous trading day and open the equivalent volume of the underlying security at first available price on the ex-dividend day. In this case, the Company has to inform the Client by internal mail in the trading terminal about the possibility of such actions not later than the closing of the trading session prior to the ex-dividend day.

14.7 “Corporate Events” are the declarations by the issuer of the underlying asset of the Financial Instrument of the terms of any of the following but not limited to:

a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of shares to existing shareholders by way of a bonus, capitalization or similar issue.

a distribution to existing holders of the underlying shares of additional shares, other share capital or securities granting the right to payment of dividends and/or proceeds of liquidation of the issuer equally proportionately with such payments to holders of the underlying shares, or securities, rights or warrants granting the right to a distribution of shares or to purchase, subscribe or receive shares, in any case for payment (in cash or otherwise) at less than the prevailing market price per share as determined by the Company; Any other event in respect of the shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of the shares.

14.8 Orders: Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop on Financial Instruments are executed at the declared by the Client price on the first current price touch. The Company reserves the right not to execute the order, or to change the opening (closing) price of the transaction in case of the technical failure of the trading platform, reflected financial tools quotes feed, and also in case of other technical failures.

14.9 Under certain trading conditions it may be impossible to execute orders (Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop) on any Financial Instrument at the declared price. In this case, the Company has the right to execute the order or change the opening (closing) price of the transaction at the next best price. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted. Or this may occur in the trading session start moments. So as a result, placing a stop-loss order will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price.

14.10 The Client may submit to the Company in writing by facsimile transmission or delivery by hand, his objection to the execution or the non-execution or the mode of execution of a transaction and/or Order concluded on his behalf within two (2) working days from the conclusion of the transaction. Otherwise, the transaction will be considered valid and binding for the Client.

14.11 At Margin level less than 5% the Company has a discretionary right to begin closing positions starting from most unprofitable-:- If Margin level is equal 100%, all positions are automatically closed at market price.

14.12 The Client agrees and realizes that all conversations/communications between the Client and the Company can be recorded on magnetic, electronic and other carriers. The Client further agrees that the Company has the right to use these records as evidence in case any dispute arises between the Company and the Client.

The Company has the right to refuse the Client in the execution of transactions through the telephone line if the actions of the Client are not clear and do not include the following operations: opening position, closing position, changing or removing orders.

In case of force-majeure, hacker attacks and other illegal actions against the Server of the Company and also a suspension of trade in the financial markets concerning Financial Instruments of the Company, the Company may suspend, freeze or close the Client positions and request the revision of the executed transactions.

Any trade taking place as a result of software malfunctioning, hack or attack, Metatrader disruption, and any trade taking place out of market norms, will not be regarded as valid by broker and related benefit or forfeits will not be considered for the customers in case of any dispute over such trades, decision on how to settle the dispute will lie with the broker any law deficiency which could be interpreted by the broker as abuse.

14.13 All price levels in the trading terminal are determined at the Company’s discretion. Any references of the Client to prices of other trading or information systems shall be disregarded.

14.14 Trading operations using additional functions of the client trading terminal such as Trailing Stop or Expert Adviser are executed completely under the Client’s responsibility, as they depend directly on the client trading terminal and the Company bears no responsibility whatsoever. The Company reserves the right to reverse any or all types of existing or previous transactions performed by the Client in any of his trading accounts and terminate the Agreement, as per clause 13.4, in case the Client uses additional functions on his trading terminal such as Expert Adviser, etc. which might cause a manipulation on the execution process of the Financial Instruments as well as affect the smooth operations of the Trading Platform.

14.15 The 1 (one) standard lot size is the measurement unit specified for each Financial Instrument traded in the Electronic Trading Platform. The Company reserves the right to change the Contract Specifications at any time depending on the market situation. The Client agrees to check the full specification of the Financial Instruments before placing any order. The minimum volume of the transaction is from 0.1 lots. A possible choice of a leverage rate ranges from 1:1 up to 1:500 depending on the type of the Financial Instrument and at the discretion of the Company. At the opening of a Client trading account, the leverage rate is chosen by the Client and it is taken into consideration where applicable depending on the type of the Financial Instrument.

The Client may change the leverage of their trading account by contacting the Company. The Company reserves the right to change the Client’s trading account leverage at its discretion, either for a 7 limited time period or on a permanent basis, by informing the Client by written notice sent either by regular mail or by internal mail.

From 21.00 until 24.00 server time every Friday or for any other period specified by the Company and communicated to the Clients in advance through internal mailing system of the trading terminal, the Company establishes a maximum leverage rate for opening any new position of 1:100.

14.16 In case of absence of any trading activity within one year of the Client’s account, the Company reserves the right to charge a fixed payment of 10 US dollars per year in order to maintain the account assuming that the Client Account has the available funds. If the Client account is funded by less than 10 US dollars and has been inactive for a period of one year, the Company reserves the right to charge a lower amount to cover administrative expenses and close down the account.

14.17 DeltaFX has floating spread. The company has the right at its discretion to increase or decrease spreads on Financial Instruments depending on market conditions.

REFUSAL TO EXECUTE ORDERS

15.1 The Client acknowledges that the Company shall have the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, amongst others in the following cases:

Whenever the Company deems that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments, constitutes an abusive exploitation of privileged confidential information (insider trading); contributes to the legislation of proceeds from illegal acts or activities (money laundering); affects or may affect in any manner the reliability or smooth operation of the Electronic Trading Platform;

Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company and/or in the Bank Account (as in paragraph 9 below) to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Electronic Trading Platform. In calculating the said available funds, all funds required to meet any of the Client’s obligations include, but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company and/or in the Bank Account; It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.

15.2 The Client declares that he shall not knowingly give any order or instruction to the Company that might instigate the Company taking action in relation to paragraph 7.1 above.

15.3 In case any Order either to open or close a position concerning any Financial Instrument, has been mistakenly accepted and/or executed by the Company, the Company will make every effort to maintain the Client’s original position. Any charges, losses or profits incurred from the actions above, will be absorbed by the Company.

SETTLEMENT OF TRANSACTIONS

16.1 The Company shall proceed to a settlement of all transaction upon execution of such transactions.

16.2 A statement of Account will be provided by the Company to the Client on a monthly basis, within five working days from the end of the previous month. In case no transactions were concluded in the past month, the Client is deemed to have lost his right to be informed. Any confirmation or proof for any act or statement of account or certification issued by the Company in relation to any transaction or other matter shall be final and binding on the Client unless the Client has any objection in relation to such statement of account or certification and the said objection is filed in writing and received by the Company within two (2) Working days from the receipt or the deemed date of receipt of any statement of account or certification.

16.3 In the case where the Client is able to have an online statement for his sub-account on a continuous basis, then the Company is considered as having fulfilled its obligations under paragraph 16.2 and any objections of the Client shall be valid only if received by the company in writing within 2 working days from the transaction under objection

TERMINATION

17.1. Term and Termination. This Agreement shall continue and be in effect until termination by the Customer or DeltaFX. The Customer may terminate this Agreement if: (i) the Customer has no Open Positions and no liabilities held by or owed to DeltaFX; and (ii) the Customer has provided three (3) Business Days’ Written Notice to DeltaFX by e-mail to support@DeltaFX.com or by United States mail or other delivery service to DeltaFX. DeltaFX may in its sole discretion terminate this Agreement at any time, effective as of the close of business on the day notice is sent to the Customer. Upon termination of this Agreement, DeltaFX will be entitled, without prior notice to the Customer, to cease the Customer’s access to the Trading Platform. Termination by either party shall not affect any Transactions previously entered into and shall not relieve either party of any obligations set out in this Agreement, nor shall it relieve the Customer of any obligations arising out of any deficit balance.

17.2. Default. Each of the following constitutes an “Event of Default”: (i) the failure of the Customer to provide Margin, or other amount due under the Agreement, (ii) the failure of the Customer to perform any obligation due to DeltaFX, (iii) any breach of the Agreement by the Customer, (iv) the initiation by a third party of proceedings for the Customer’s bankruptcy (if the Customer is an individual) or for the Customer’s winding-up or for the appointment of an administrator or receiver in respect of t he Customer or any of the Customer’s assets (if the Customer is a Company) or (in both cases) if the Customer makes an arrangement or composition with the Customer’s creditors or any procedure which is similar or analogous to any of the above is commenced in respect of the Customer; (v) where any representation or warranty made by the Customer becomes untrue, (vi) th e Customer is unable to pay the Customer’s debts when they fall due, (vii) the Customer dies or is deemed incompetent by a court of competent jurisdiction, or (viii) any other circumstance where the Company reasonably believes that it is necessary or desirable to take any action set out below. If an Event of Default occurs DeltaFX may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following steps: (a) close out all or any of the Customer’s Open Positions at current Quotes; (b) refuse to open new Positions the Customer’s Trading Account(s); (c) debit the Customer’s Trading Account(s) for the amounts which are due to DeltaFX; (d) close any or all of the Customer’s Trading Account s held with DeltaFX; (e) refuse to open new Trading Account(s) for the Customer.

17.2.1 Each of the following constitutes an “Event of Default”: (a) the failure of the Customer to provide Margin, or other amount due under the Agreement; (b) the failure of the Customer to perform any obligation due to DeltaFX; (c) an y breach of the Agreement by the Customer; ( d) the initiation by a third party of proceedings for the Customer’s bankruptcy (if the Customer is an individual) or for the Customer’s winding-up or for the appointment of an administrator or receiver in respect of the Customer or any of the Customer’s assets (if the Customer is a DeltaFX) or (in both cases) if the Customer makes an arrangement or composition with the Customer’s creditors or any procedure which is similar or analogous to any of the above is commenced in respect of the Customer; (e) where any representation or warranty made by the Customer becomes untrue; (f) the Customer is unable to pay the Customer’s deb ts when they fall due; (g) the Customer dies or is deemed incompetent by a court of competent jurisdiction; or (h) any other circumstance where the DeltaFX reasonably believes that it is necessary or desirable to take any action set out below.

17.2.2 If an Event of Default occurs s DeltaFX may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following steps: (a) close out all or any of the Customer’s Open Positions at current Quotes; (b) refuse to open new Positions the Customer’s Trading Account(s); (c) debit the Customer’s Trading Account(s) for the amounts which are due to DeltaFX; (d) close any or all of the Customer’s Trading Accounts held with DeltaFX; (e) refuse to open new Trading Account(s) for the Customer.

17.3. Liquidation of Accounts and Deficit Balances. If an Event of Default occurs, DeltaFX may take one or more, or any portion of, the following actions: (a) satisfy any obligation the Customer may have to DeltaFX, either directly or by way of guaranty of suretyship, out of any of the Customer’s funds in its custody or control; (b) close out all or any of the Customer’s Open Positions; and (c) cancel any or all outstanding Orders or contracts, or any other commitments made on behalf of the Customer. Any of the above actions may be taken without demand for Margin or additional Margin, without prior notice of sale or purchase or other notice to the Customer, the Customer’s personal representatives, heirs, executors, administrators, trustees, legatees, successors or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. In liquidation of the Customer’s Long or Short Positions, DeltaFX may, in its sole discretion, offset in the same settlement or it may initiate new Long or Short Positions in order to establish a spread or straddle which in DeltaFX sole judgment may be advisable to protect or reduce existing Positions in the Customer’s Trading Account. Any sales or purchases hereunder may be made according to DeltaFX judgment and at its discretion with any interbank or other markets where such business is then usually transacted or at a public auction or private sale, and DeltaFX may purchase the whole or any part thereof free from any right of redemption. The Customer shall at all times be liable for the payment of any deficit balance of the Customer upon demand by DeltaFX, and in all cases, the Customer shall be liable for any deficiency remaining in the Customer’s Trading Account(s) in the event of the liquidation thereof in whole or in part by DeltaFX or by the Customer. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of the Customer due to DeltaFX, the Customer shall promptly pay upon demand, the deficit, and all unpaid liabilities together with interest thereon at the maximum interest rate allowed by law, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event DeltaFX incurs expenses other than for the collection of deficits, with respect to any of the Customer’s Trading Accounts, the Customer agrees to pay such expenses.

18- WARNINGS:

Margined trading carries a high risk. Please note:

a- You may sustain a total loss of initial margin funds and any additional funds deposited with DeltaFX to maintain your position, in addition to any liability detailed in the previous Section;

b- You may not be responsible for debit balances directly resulting from the trading activity, except in the case of a force majeure as detailed in the previous Section;

c- If the market moves against your position or margin levels are increased you may be called upon to pay substantial additional funds on short notice to maintain your position;

d- If you fail to comply with a request for additional funds within the time prescribed, DeltaFX in its sole discretion may liquidate any or all of your positions at a loss;

e- Whether you make a profit or a loss will depend on fluctuations in the underlying security or commodity, which are outside Delta’s control;

You must make an independent decision as to whether or not to enter into Margined Transactions with

DeltaFX on our Terms of Business. Please note:

1- DeltaFX does not provide advice, DeltaFX will not advise on the merits or otherwise of your Margined Transactions;

2- The decision to place a Margined Transaction is yours alone. You (and not DeltaFX) are responsible for the effect a Margined Transaction might have on any open positions;

3- We deal with you on an execution only basis at all times;

RISK DISCLOSURE STATEMENT

In connection with opening a Trading Account to speculate, purchase and/or sell OTC Forex, Precious Metal and related contracts with DeltaFX on a “spot” basis (“Forex Trading”), the Customer acknowledges, understands and agrees that:

19.1. Trading Is Very Speculative and Risky. Forex Trading is highly speculative and is suitable only for those Customers who (i) understand and are willing to assume the economic, legal and other risks involved, and (ii) are financially able to assume losses significantly in excess of Margin or deposits. Forex Currency is not an appropriate investment for retirement funds. The Customer represents warrants and agrees that the Customer understands these risks; that the Customer is willing and able, financially and otherwise, to assume the risks of Forex Trading and that loss of the Customer’s entire Trading Account Balance will not change the Customer’s lifestyle.

19.2. High Leverage and Low Margin Can Lead To Quick Losses. The high Leverage and low Margin associated with Forex Trading can result in significant losses due to price fluctuations in the foreign currency markets. The Customer must maintain the minimum Margin Level requirement on Customer’s Open Positions at all times. It is the Customer’s responsibility to monitor the Customer’s Trading Account Balance and Equity. DeltaFX has the right to liquidate any Open Positions whenever the minimum Margin requirement is not maintained.

19.3. Prices, Margin and Valuations Are Set By DeltaFX And May Be Different From Prices Reported Elsewhere. DeltaFX will provide Quotes to be used in trading, valuation of the Customer’s positions and determination of Margin requirements. Although DeltaFX expects that these Quotes will be reasonably related to Quotes available in the inter-bank market, Quotes reported by DeltaFX may vary from Quotes available to banks and other participants in what is known as the inter-bank market. DeltaFX will exercise considerable discretion in setting and collecting Margin. DeltaFX is authorized to convert funds in the Customer’s Trading Account for Margin into and from such foreign currency at a rate of exchange determined by DeltaFX in its sole discretion on the basis of then-prevailing money market rates.

19.4. Risk-Reducing Orders or Strategies. The placing of certain Orders (e.g. Stop Loss Orders or Stop Limit Orders, where permitted under local law), which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such Orders. Strategies using combinations of positions may be as risky as taking simple Long or Short Position s.

19.5. Currency Risks. The profit or loss in Transactions in foreign currency (whether they are traded in the Customer’s own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency of the Open Position to another currency.

19.6. One-Click Trading and Immediate Execution. DeltaFX Trading Platforms may transmit the Customer’s Instruction once the Customer enters the trading volume and clicks “Buy/Sell” or “Bid/Offer” either through One-Click trading or immediate execution. With both One-Click Trading and immediate execution, there is no “second look” before transmission, and such Instruction cannot be canceled. This second look feature may be different from other trading systems. The Customer should utilize the appropriate demo trading platform to become familiar with the order entry process before trading with DeltaFX. The Customer agrees that by using DeltaFX Trading Platform, the Customer agrees to One-Click Trading or immediate execution system and accepts the risk of these execution features.

19.7. Telephone Orders and I’m mediate Execution. Instructions executed through the DeltaFX trading desk are completed when DeltaFX says “deal” or “done.” At that point, the Customer has bought or sold and cannot cancel such Order. By giving Instructions through the DeltaFX trading desk, the Customer agrees to such immediate execution and accepts the risk of this immediate execution feature.

19.8. Trading Recommendation s. The Customer shall not request and DeltaFX shall not provide investment advice or make any statements of opinion to encourage the Customer to make any particular Transaction. DeltaFX shall not provide personal recommendations or advice on the merits of any specific Transactions.

19.9. There is no Central Market or Clearinghouse Guarantee of Payment. Forex Trading with DeltaFX is not conducted on a regulated market or exchange. There is no clearinghouse and no guarantee by any other party of DeltaFX payment obligations to the Customer. The Customer must look only to DeltaFX for performance on all Transactions in the Customer’s Trading Account and for the return of any funds. The insolvency of DeltaFX or a default by DeltaFX could cause the Customer to lose the value of the Customer’s Trading Account and to suffer additional losses from Open Positions.

19.10. No Guarantees of Profit. There are no guarantees of profit or freedom from the loss in Forex Trading. The Customer has received no such guarantees from DeltaFX, any of its representatives or any of its introducing brokers. The Customer is aware of the risks inherent in Forex Trading and is financially able to bear such risks and withstand any losses incurred.

19.11. The Customer May Not Be Able To Close Open Positions. Due to market conditions or other circumstances, DeltaFX may be unable to close out the Customer’s Open Position at the level specified by the Customer, and the Customer agrees DeltaFX will bear no liability for failure to do so.

19.12. Trading Ahead and Along. DeltaFX, its personnel and Affiliates, and various other parties may execute Orders at the same or better Quotes ahead of the Customer’s Order.

19.13. Third Party Agents. In the event that the Customer grants trading authority or control over the Customer’s Trading Account to a third party (the “Trading Agent”), whether on a discretionary or non-discretionary basis, DeltaFX shall in no way be responsible for reviewing the Customer’s choice of such Trading Agent or for making any recommendations with respect thereto. DeltaFX makes no representations or warranties concerning any Trading Agent; DeltaFX shall not be responsible for any loss to the Customer occasioned by the actions of the Trading Agent; and DeltaFX does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent. If the Customer gives the Trading Agent authority to exercise any of its rights over its Trading Account, the Customer does so at the Customer’s risk. Even though the undersigned grants authority to Trading Agent, the Customer should be diligent and closely scrutinize all Trading Account activity. DeltaFX provides password-protected Trading Account access to Trading Platform, whereby the Customer may view Trading Account value and activity.

19.14. Internet Trading. Since DeltaFX does not control signal power, its reception or routing via Internet, configuration of the Customer’s equipment or reliability of its connection, DeltaFX shall not be liable for any claims, losses, damages, cost s or expenses, including attorneys’ fees, caused, directly or indirectly, by any breakdown or failure of any transmission or communication system or computer facility or trading software, whether belonging to DeltaFX, the Customer, any market, or any settlement or clearing system when the Customer trades online (via Internet).

19.15. Quoting Errors. Should a quoting error occur due to a mistype of a Quote or a misquote given by telephone and/or electronic means (including responses to the Customer requests), DeltaFX is not liable for any resulting errors in Trading Account Balances and, in accordance with applicable law, reserves the right to make necessary corrections or adjustments on the Trading Account involved. Any Dispute arising from such quoting errors will be resolved in accordance with applicable law and, where appropriate, on the basis of the fair market value, as determined by DeltaFX. In cases where the prevailing market represents Quotes different from the Quotes DeltaFX has posted on its screen, DeltaFX will attempt, on a best efforts basis, to execute trades on or close to the prevailing market prices. These prevailing market prices will be the prices, which are ultimately reflected on the Customer’s statements. This may or may not adversely affect the Customer’s realized and unrealized gains and losses.

19.16. Creditor Priority in Bankruptcy. The Transactions the Customer is entering into with DeltaFX are not traded on an exchange. Therefore, under the U.S. Bankruptcy Code, the Customer’s funds may not receive the same protections as funds used to Margin or guarantee exchange-traded futures and options contracts, which receive a priority in bankruptcy. Since that same priority has not been given to funds used for off-exchange Forex Trading, if DeltaFX becomes insolvent and the Customer has a claim for amounts deposited or profits earned on Transactions with DeltaFX, the Customer’s claim may not receive a priority. Without a priority, the Customer is a general creditor and the Customer’s claim will be paid, along with the claims of other general creditors, from any monies still available after priority claims are paid. Even the Customer’s funds that DeltaFX keeps separate from its own operating funds may not be safe from the claims of other general and priority creditors.

19.17. Transactions in Other Jurisdictions. Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose the Customer to additional risk. Such markets may be subject to regulation, which may offer different or diminished investor protection. Before the Customer trade, the Customer should inquire about any rules relevant to the Customer’s particular Transactions. The Customer’s local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the Customer’s Transactions have been affected. The Customer should ask the firm with which the Customer deals for details about the types of redress available in both the Customer’s home jurisdiction and other relevant jurisdictions before the Customer starts to trade.

SECONDARY RISK DISCLOSURE: HIGH-RISK INVESTMENT

20.1. Trading is very speculative and risky. Forex Trading is highly speculative and is suitable only for those Customers who (a) understand and are willing to assume the economic, legal and other risks involved, and (b) are financially able to assume losses significantly in excess of Margin or deposits. The Customer represents warrants and agrees that the Customer understands these risks; that the Customer is willing and able, financially and otherwise, to assume the risks of Forex Training and that loss of the Customer’s entire Trading Account Balance will not change the Customer’s lifestyle.

20.2. The high Leverage and low Margin associated with Margin Trading can result in significant losses due to price fluctuations in the foreign currency markets. DeltaFX Margin policies may require that additional funds be provided to properly margin Customer’s Trading Account and that the Customer must immediately meet such Margin requirements. Failure to maintain a Margin Level in an amount equal to or exceeding 100% of Margin requirement may result in the liquidation of any Open Positions with resultant loss to the Customer.

REPRESENTATIONS AND WARRANTIES

Representations and Warranties of the Customer. The Customer represents and warrants to DeltaFX and agrees for the benefit of DeltaFX that:

21.1. The Customer is of sound mind, legal age and is legally competent.

21.2. The Customer (if not a natural person) is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; (ii) execution and delivery of this Agreement and performance of all obligations contemplated under this Agreement and all Transactions contemplated hereunder have been duly authorized by the Customer; and (iii) each person executing and delivering this Agreement and all Transactions contemplated hereunder, and performance of all of the Customer’s obligations contemplated under this Agreement and all Transactions contemplated hereunder, will not violate any statute, rule, regulation, ordinance, charter, by-law or policy applicable to the Customer.

21.3. The Customer has full beneficial ownership of the Customer’s Trading Account. The Customer has not granted and will not grant a security interest in the Customer’s Trading Account with DeltaFX (other than the security interest granted to DeltaFX hereunder) to any person without DeltaFX prior written consent. The Customer has full beneficial ownership of all assets and will not grant any security interest in any assets held in the Customer’s Trading Account to any person (other than the security interest granted to DeltaFX hereunder) without DeltaFX prior written consent.

21.4. The Customer will execute and deliver all documents, give all notices, either written or oral, make all filings and take such other actions as DeltaFX, in its sole discretion, deems necessary or desirable to evidence or perfect any security interest in favor of DeltaFX or to protect DeltaFX interests with respect to any assets.

21.5. The Customer understands that each Trading Platform is governed by a unique set of terms and conditions; therefore, different Terms apply to each Trading Platform. DeltaFX has furnished the Customer with the Terms that apply to the Trading Platform on which the Customer is trading. If the Customer opens another Trading Account, the Customer agrees to request and be governed by the Terms that apply to that Trading Platform.

The Customer has read and understands the provisions contained in this Agreement, including, without limitation, DeltaFX Risk Disclosure Statement and the Terms that apply to the Trading Platform the Customer is utilizing. The Customer will review the Agreement each time it is amended or each time the Customer opens an additional Trading Account with DeltaFX. The Customer will not affect an opening Transaction in the Customer’s Trading Account unless the Customer understands DeltaFX revised Agreement and the specific Terms that apply to the Trading Account on which the Customer is trading. The Customer agrees that, in effecting any opening Transaction, the Customer is deemed to represent that it has read and understands DeltaFX revised Agreement and the applicable Terms as in effect at the time of such opening Transaction.

21.7. The Customer has either: (i) effected foreign currency Transactions with DeltaFX or with other foreign currency dealers for at least six months; or (ii) the Customer agrees to trade on the applicable DeltaFX demo trading system.

21.8. The Customer agrees to comply with all applicable law. The Customer may not use the Customer’s Trading Account with DeltaFX for any illegal activity.

All information provided by the Customer to DeltaFX, including information regarding the Customer’s trading experience and investment sophistication, is true, correct and complete, and the Customer will notify DeltaFX promptly of any changes in such information.

LIABILITY AND INDEMNIFICATION:

23.1. DeltaFX Responsibilities. DeltaFX shall not be liable to the Customer for any claims, losses, damages, costs or expenses, including attorneys’ fees, caused, directly or indirectly, by any events, actions or omissions, including, without limitation, claims, losses, damages, costs or expenses, including attorneys’ fees, resulting from civil unrest , war, insurrection, international intervention, governmental action (including, without limitation, exchange controls, forfeitures, nationalizations , devaluations), natural disasters, acts of God, market conditions, inability to communicate with any relevant person or any delay, disruption, failure or malfunction of any transmission or communication system or computer facility, whether belonging to DeltaFX, the Customer, any market, or any settlement or clearing system.

23.2. Indemnification. The Customer agrees to indemnify and hold DeltaFX, its Affiliates, employees, agents, successors and assigns harmless from and against any and all liabilities, claims, losses, damages, costs and expenses, including attorneys’ fees, incurred by DeltaFX arising out of: (i) the Customer’s failure to fully and timely perform its obligations hereunder; and (ii) the Customer’s representations and warranties made that may at any time be untrue or incorrect. The Customer also agrees to pay promptly to DeltaFX any and all claims, losses, damages, costs, and expenses, including attorneys’ fees, incurred by DeltaFX in the enforcement of any of the provisions of this Agreement, any Transactions hereunder, and any other agreements between DeltaFX and the Customer and the collection of any amounts due hereunder and thereunder.

23.3. Joint Accounts and/or Trust Accounts. If more than one natural person executes this Agreement as the Customer, all such natural persons agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Agreement is executed by a trust, unincorporated association, partnership, custodian or other fiduciary, such Customer hereby agrees to indemnify, defend, save and hold free and harmless DeltaFX for any liabilities, claims, losses, damages costs and expenses, including attorneys’ fees, resulting directly or indirectly from breach of any fiduciary or similar duty or obligation or any allegation thereof, including attorneys’ fees.

GOVERNANCE LAW:

This agreement and all transnational relations between the client and the company are governed by , enforced and construed in accordance with the laws of England and guarantor hereby expressly submits to the jurisdiction of all courts located in England for purposes of any action or proceeding involving this guaranty , and consents that any process or notice of motion or other application to any of said courts or to any judge thereof may be served within or within or within any such court’s jurisdiction by registered or certified mail or by personal service .

This guaranty shall inure to the benefit of and be enforceable DeltaFX and this successors and assigns, and shall be binding upon and enforceable against guarantor and its successors and permitted assigns, provided, however, that this guaranty may not be assigned by guarantor any other party without the prior written consent of DeltaFX, and further provided that any such assignment by guarantor, as consented by DeltaFX. Shall not release the guarantor from its obligations hereunder.

FOREX CUSTOMER AGREEMENT ACKNOWLEDGEMENT

By checking the agree button below, you acknowledge that you have carefully read, in its entirety, and understood the Forex Customer Agreement, Risk Disclosure Statement, including the Secondary Risk Disclosure (High Risk Investment), Authorisation to Transfer Funds, Consent to Electronic Statements, Security Agreement, Social Security or Tax ID Certification, and Terms of Business, and that you agree to all of the provisions contained therein.