TERMS AND CONDITIONS
ATRIAFINANCIAL LTD
April 2025
TABLE OF CONTENT
1. INTRODUCTION
2. DEFINITIONS
3. LICENSE AND USE OF THE TRADING PLATFORM
4. ACCOUNT CREDENTIALS AND SECURITY
5. INTELLECTUAL PROPERTY
6. APPLICATION AND REGISTRATION DATA
7. SERVICES
8. ADVICE AND COMMENTARY
9. CONFIDENTIALITY OF PERSONAL DATA
10. ADMINISTRATION AND MARKETING
11. TELEPHONE CALLS, FAXED DOCUMENTS AND RECORDS
12. TRADE CONFIRMATIONS
13. GENERAL RULES OF TRADING
15. FORCE MAJEURE
16. MARGIN REQUIREMENTS AND MARGIN CALLS
17. SETTLEMENT, PAYMENTS, COSTS AND TAXES
18. DEPOSITS AND WITHDRAWALS
19. HOLDING OF CLIENT MONEY
20. NETTING AND SET-OFF
21. INACTIVE AND DORMANT TRADING ACCOUNTS
23. COMMENCEMENT, TERMINATION AND RESULTS OF TERMINATION
24. EVENT OF DEFAULT
25. REPRESENTATIONS AND WARRANTIES
26. INDEMNITY
27. DISCLAIMERS
28. LIMITATION OF LIABILITY
29. AUTHORITY TO TRADE
30. RELATIONSHIP OF THE PARTIES
31. CONFLICT OF INTEREST
32. COMMUNICATION, WRITTEN NOTICES AND LANGUAGE
33. ENTIRE AGREEMENT
34. SEVERABILITY
35. WAIVER
36. ASSIGNMENT
37.COMPLAINTS AND DISPUTES
38. MULTIPLE ACCOUNT HOLDERS
39. GOVERNING LAW AND JURISDICTION
APPENDIX – FX AND CFD TRADING TERMS
1. Introduction
1.1. ATRIAFINANCIAL LTD (hereinafter called the “Company”, or “we” or “us”) is authorized and regulated by the Vanuatu Financial Services Commission (hereinafter referred to as “VFSC”) with Dealing in Securities Principal’s License. The Company is registered in Vanuatu, with registration number 17910. Its registered office is at 1st Floor B&P House, Kumul Highway, Port Vila, Republic of Vanuatu
1.2. The present Terms and Conditions together with the Policies provided by the Company on web-site https://www.evest.com/evest-Documents-Policies (together the “Agreement” or “Client Agreement”), as amended from time to time, set out the business terms upon which the Company will offer Services to the Client, the rights and obligations of both Parties, and shall govern the trading activity of the Client with the Company.
1.3. By applying for the Company’s Services (e.g. when completing and submitting the Account Opening Application Form), the Client declares to have read, understood and accepted all the documents of the Agreement and it means that if the applicant is accepted as a Client of the Company, the Client and the Company shall be bound by these. For this reason, all prospective Clients are advised to read carefully all the documents which form the Agreement and agree with them before entering into an agreement with the Company.
1.4. The Company may provide the above documents in languages other than English. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein and the Client should also refer to the English version and the Website for information on the Company and its policies.
1.5. This Agreement overrides any other agreements, arrangements, express or implied statements made by the Company.
1.6. When we refer to “you” and “your” we mean the Client of the Company who is a licensed user of the Trading Platform and you have completed the account opening process or the corporate trading account application and the Company is satisfied with the clients’ identification and due diligence checks performed. If you decide to download any Software to use the trading demonstration then the terms and conditions within this document (to the extent applicable) apply to you and by downloading the Software you accept the same and agree to abide by the terms and conditions herein, although you shall not be treated as our Client and we shall have no obligations towards you.
1.7. For any questions or notices, you may contact the Company at:
Address: 1st Floor B&P House, Kumul Highway, Port Vila, Republic of Vanuatu
Phone number: +971-800-012-0048
Email: [email protected]
1.8. By accepting the current Agreement, you confirm that you are able and agree to receive information, including any amendments to the present agreement, either via email or through the Company’s website (hereinafter, the “Website”).
2. Definitions
2.1. In this Agreement:
“Abusive Trading” shall include any of the following actions such as, but not limited to placing “buy stop” or “sell stop” Orders prior to the release of financial data, arbitrage, manipulations, lag trading, usage of server latency, price manipulation, time manipulation, hunting of trading benefits, a combination of faster/slower feeds, abuse of the cancelation of trades feature available on the Platform or use (without the prior and written consent of the Company) of any software, the use of Internet bot, web robot, robot or simply bot, or any software application that runs automated tasks (scripts) over the Internet, usually with the intent to emulate human activity on the Internet and/or any other electronic equipment or interfaces that could provide a unfair trading advantage against the Company, which applies artificial intelligence analysis to the Company’s systems and/or Platform(s) and/or Client’s Trading Account.
“Account Credentials” shall mean a unique username and password used by you to access and use the Trading Platform.
“Affiliate” shall mean in relation to the Company, any entity which directly or indirectly controls or is controlled by the Company, or any entity directly or indirectly under common control with the Company; and “control” means the power to direct or the presence of ground to manage the affairs of the Company or entity.
“Agreement” shall mean this “Client Agreement” and the Policies found on the Company’s Website, as amended from time to time.
“Authorized Person” shall mean a person who has provided, to the satisfaction of the Company, a legally binding document enabling them to act as representative of the Client.
“Applicable Regulations” shall mean (a) acts and rules of the Vanuatu Financial Services Commission and Financial Intelligence Unit; and (b) all other applicable laws, rules and regulations as in force from time to time.
“Base Currency” shall mean in an FX Contract the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
“Business Day” shall mean any day, other than a Saturday or a Sunday, or any Vanuatu or international holidays to be announced on the Company’s Website.
“Buy” shall mean a Transaction in FX and CFD that is opened by offering to buy a specific number of a certain Underlying Asset, and may also in our dealings with you in FX and CFDs, be referred to as a “long” or “Long Position”.
“Client information” shall include, among others, personal details such as name, surname, place and date of birth, residential address, IP address, due diligence and know-your-client information and documentation, financial details such as bank account, credit card details, bank statements, source of income, tax residency and tax identification number, employment and professional details.
“Closed Only” means that your accounts will not be able to enter any new positions and that you may only close any open trades and/or depending on the circumstances withdraw your funds.
“CFD”, a contract for difference, is a derivative trade which allows you to speculate on the price movements of an underlying asset, security, index, property or commodity (the “Underlying”), such as shares, forex, indices, commodities, or crypto assets without acquiring the Underlying. When you trade a CFD, you are agreeing to exchange the difference in the price of the Underlying from the point in time when your position is opened to when it is closed. This is called “cash settled” as you are not required to deliver or receive the Underlying.
“Corporate Event” is something which will result in a change to one or more the financial instruments. Examples of Corporate Events include, but are not limited to, share consolidations, share splits, reorganizations, mergers, take-over offers (and similar), name changes and rebranding, dividend distributions, insolvency, delistings and change to Applicable Law. “Currency Pair” shall mean the object or Underlying Asset of an FX Contract based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.
“VFSC” shall mean the Vanuatu Financial Services Commission, which is the Company’s supervisory authority.
“Event of Default” shall have the meaning given in paragraph 24.1 of this Client Agreement.
“Dealing in securities” means doing any of the following things, that is to say, making or offering to make with any person, or inducing or attempting to induce any person to enter into or offer to enter into –
a) any agreement for or with a view to acquiring, disposing of, subscribing for or underwriting securities or lending or depositing money to or with any industrial or provident society or building society; or
b) any agreement the purpose or pretended purpose of which is to secure a profit to any of the parties from the yield of securities or by reference to fluctuations in the value of securities, and “deal in securities” shall be construed accordingly.
“Difference” shall mean in an FX and CFD the difference in price upon the opening of a Transaction and the closing of such Transaction.
“Expiry Date” shall mean the date set specified on the Trading Platform with respect to certain Underlying Asset upon which any open Transaction for such Underlying Asset shall expire automatically.
“Financial Data” shall mean any financial and market data, price quotes, news, graphs or any other data or information whatsoever available through the Trading Platform.
“Financial Institution” shall mean banks, financial institutions, brokers or other trading organizations.
“Financial Instrument” shall mean the financial instruments offered by the Company (i.e. CFDs) which can be found on the Website https://www.evest.com/start-trading/trading-fees#/.
“Financial Intelligence Unit” means the Financial Intelligence Unit established under section 4 of the Anti-Money Laundering and Counter-Terrorism Financing Act No. 13 of 2014.
“Force Majeure Event” shall have the meaning as set out in paragraph 15.1 of this Client Agreement.
“FX Contract” or “FX” shall mean the type of CFD where the Underlying Asset is a Currency Pair. Hence, any mention to CFDs in this Agreement also covers FX Contracts.
KYC (Know Your Client) is a mandatory and legal obligation and due diligence process that the Company has to perform on all applicants. The Company collects and reviews all the documents provided by the Client and verifies that all the KYC documents are satisfactory thereby accepting the applicant as Client (see Paragraphs 4.11. to 4.23 and paragraph 6 below).
“Initial Margin” shall mean the minimum amount of money required in your Trading Account in order to open a Transaction, as specified on the Trading Platform from time to time for each specific Underlying Asset.
“Intellectual Property Rights” shall mean patents, trademarks, service marks, trade names, logos, software code, icons, characters, layouts, trade names, trade secrets, buttons, colour scheme, internet domain names, rights in designs, copyright (including rights in computer software), database rights, semi-conductor topography rights, utility models, rights in know-how and other intellectual property rights, in each case whether registered or unregistered and including applications for registration, and all other rights or forms of protection having equivalent or similar effect anywhere in the world.
“Long Position” for FX and CFD trading shall mean a buy position that appreciates in value if underlying market prices increase. For example, in respect of Currency Pairs: buying the Base Currency against the Quote Currency.
“Limit Order” shall have the meaning as set out in paragraph 3.3 and 3.5. of the Appendix hereunder.
“Maintenance Margin” shall mean the minimum amount of money required in your Trading Account as specified on the Trading Platform in order to keep a Transaction open on the Trading Platform.
“Manifest Error” shall mean any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute Transactions for exaggerated volumes of Underlying Assets or at manifestly incorrect market price quotes or prices at a clear loss.
“Margin” shall mean the Initial Margin and the Maintenance Margin collectively.
“Margin Call” shall mean a demand by us for you to increase the amount of money in your Trading Account to satisfy our Margin requirements, from time to time, including without limitation a call under paragraph 16 of this Client Agreement.
“Market Order” shall mean Orders which are executed at the best available market price.
“Normal Market Size” shall mean the maximum number of Underlying Assets that can be executed by the Company in the instant execution mode. These Terms and Conditions are applicable for Normal Market Size. The Company at its own absolute discretion. discretion may change these terms and conditions if the client wishes to make a transaction above the normal market size for the specified instrument.
“Open Position” shall mean any open contract which has not been closed.
“Order” shall mean an instruction from the Client to trade in FX and CFDs. For FX and CFD it means a Stop Loss or Take Profit order.
“Principal’s license” means a license authorizing the holder thereof to carry on the business of dealing in securities.
“Quote” shall mean the information of the current price for a specific Underlying Asset, in the form of the Bid and Ask prices.
“Quote Currency” shall mean in an FX Contract the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.
“Parties” shall mean the parties to this Client Agreement – the Company and the Client. “Personal Area” a section on the Company’s website dedicated to each Client containing information addressed to the specific Client and through which the Company and the Client may interact.
“Pip” shall mean in a CFD Transaction with Underlying Assets quoted in four decimal points the one hundredth of one percentage point. In CFD Transactions with Underlying Assets quoted in two decimal points, Pip shall mean the one percentage point.
“Position” shall mean your position in relation to any FX and CFD currently open on your Trading Account.
“Prohibited Withdrawal” shall refer to the reserved right of the Company to refuse the release and/or withdrawal of the Specific Funds credited into the Clients trading account as the Company believes that the Client has acted in manner that can be deemed an abusive, disingenuous and against the purpose of either the bonus scheme or any credit arrangements made between the Parties.
“Registration Data” shall mean certain personal and financial information that you are required to provide in order to complete the Account Opening Application Form and become our Client; such information can include without limitation a copy of your passport or driver’s license, in accordance with the Company’s AML/CFT Procedures Manual.
“Sell” shall mean an FX and CFD Transaction that is opened by offering to sell a specific number of a certain Underlying Asset, and may also in our dealings with you, be referred to as a “short” or “short position”.
“Services” shall mean the services to be offered by the Company to the Client under this Agreement, as set out in paragraph 7 of this Client Agreement.
“Scalping” shall mean the situation where the Client opens too many positions in CFDs at the same time and/or closes them for less than five minutes or buying at Bid price and/or selling at Ask price, so as to gain the Bid/Ask difference.
“Slippage” shall mean the difference between the expected price of a Transaction in a CFD and the price the Transaction is actually executed at. At the time that an Order is presented for execution, the specific price requested by the Client may not be available; therefore, the Order will be executed close to or a number of pips away from the Client’s requested price. If the execution price is better than the price requested by the Client, this is referred to as positive slippage. If the executed price is worse than the price requested by the Client, this is referred to as negative slippage. Slippage often occurs during periods of higher volatility (for example due to due to news events) making an Order at a specific price impossible to execute, when market orders are used, and also when large Orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade. “Software” shall mean the software provided by us which you will need to download in order to use the Trading Platform.
“Spread” for FX and CFD trading shall mean the difference between Ask and Bid of an Underlying Asset in a FX and CFD at that same moment.
“Specific Funds” means the funds that were credited into the Clients account either from the bonus scheme, promotions and/or gifts of the Company or through alternative arrangements and/or agreements made between the Client and the Company to provide additional and/or sufficient credit into the trading account of the Client for the continuance of the Maintenance Margin. Specific Funds are not to be deemed as profits but as additional trading credits.
“Stop Loss” shall mean an offer to close a Transaction in an FX and CFD position at a price determined in advance by you which, in the case of a Buy is lower than the opening Transaction price and in the case of a Sell is higher than the opening Transaction price.
“Stop Out Level” is when your Margin falls to a specific percentage (%) level in which one or all of your open positions are closed automatically (“liquidated”) by the Company;
“Swap or Rollover” for FX and CFD trading shall mean the interest added or deducted for holding a position open overnight.
“Take Profit” shall mean offer to close a Transaction in an FX and CFD position at a price determined in advance by you which, in the case of a Buy is higher than the opening Transaction price and in the case of a Sell is lower than the opening Transaction price.
“Trading Account” shall mean the exclusive and unique account of the Client consisting of all the Open Positions and Orders of the Client the balance of the Client money and deposit/withdrawal transactions of the Client money. More information on the various types of Trading Accounts offered by the Company from time to time and their particular characteristics and requirements may be found on the Website https://www.evest.com/evest-trading-account-types
“Trading Platform” shall mean the electronic mechanism operated and maintained by the Company, consisting of a trading platform, computer devices, software, databases, telecommunication hardware, programs and technical facilities, which facilitates trading activity of the Client in FX and CFDs via the Trading Account.
“Trading Account Types” means the trading accounts that the Company designated the Client into therefore, permitting the Client to open his Trading position(s) based on their specific requirements, trading objectives and financial background of the Client.
“Trailing Stop” in FX and CFD trading shall mean a stop-loss order set at a percentage level below the market price – for a Long Position. The trailing stop price is adjusted as the price fluctuates. A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached “trailing” amount. As the market price rises, the stop price rises by the trail amount, but if the pair price falls, the stop loss price does not change, and a market order is submitted when the stop price is hit.
“Third Party License” shall mean licenses from third parties governing third party software embedded or used in the Trading Platform.
“Trading Hours” shall mean the hours of trading as set forth on the Trading Platform for a particular Underlying Asset.
“Transaction” shall mean either the opening or closing of an offer to either buy or sell FX and CFD for an Underlying Asset on the Trading Platform, whether by you or us.
“Underlying Asset” shall mean the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.
“Underlying Market” shall mean the relevant market where the Underlying Asset is traded such as securities or futures exchanges, clearing houses, self-regulatory organizations, multilateral trading facilities or alternative trading systems.
“Website” shall mean the Company’s website https://www.evest.com/#/.
“Written Notice” shall have the meaning set out in paragraph 32 of this Client Agreement.
2.2. Words importing the singular shall import the plural and vice versa. Words importing the masculine shall import the feminine and vice versa. Words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.
2.3. Paragraph headings are for ease of reference only.
3. License and Use of the Trading Platform
3.1. The Trading Platform is not intended for distribution to, or use by, any person:
a) who is under the age of 18 years old and of legal age in your jurisdiction to form a binding contract and/or not of legal competence or of sound mind;
b) who resides and/or is a citizen in USA, Japan, Canada, Democratic Republic of Korea, Russian Federation, Israel, Palestine, Pakistan, Turkey, United Kingdom, Bangladesh and any of the countries of European Economic Area;
c) Furthermore, the Company reserves the right at its sole discretion and in accordance with all local and international laws to refuse, restrict and prevent the offering of its services to banned jurisdictions, jurisdictions with sanctions or jurisdictions that maybe considered banned under domestic or international law.
d) The Client acknowledge and confirms that they must keep the Company fully informed of its residency and should they change their residency to a banned Jurisdiction that the Company will be obligated to suspend and/or refuse access to and use of the Trading Platform and/or close the Trading Account and terminate the Client Agreement to anyone residing in a banned Jurisdiction in our sole and absolute discretion with immediate effect.
3.2. Should the Company have reasonable cause to believe that any of the terms and conditions have been breached, either deceitfully, fraudulently, in bad faith and/or have or may violation to any laws, regulations imposed by governmental authority then, we reserve the right, acting reasonably, to suspend and/or refuse access to and use of the Trading Platform and/or close the Trading Account and terminate the Client Agreement to anyone in our sole and absolute discretion. Under justifiable situations the Company may also refuse the partial or full withdrawal of funds in the Clients trading account. Therefore, for the avoidance of any unnecessary unilateral action being taken by the Company, the Client is strongly advised to follow all the trading rules and guidelines issued by the Company in accordance with this Agreements and any accompanying policies that may be issued from time to time. The Client can contact the Company and request assistance and/or clarification regarding either the trading rules, laws, regulations and any other matters that can affect there trading.
3.3. You acknowledge that we may provide the Trading Platform to other parties, and agree that nothing herein will be deemed or construed to prevent us from providing such services.
3.4. Subject to the terms and conditions of this Agreement, we hereby grant you, a personal limited, non-exclusive, fully revocable, non-transferable and non-sub-licensable license to install and/or use the Trading Platform in object code only, solely for your personal use and benefit in accordance with the terms of this Agreement.
3.5. If any third-party software is included within or embedded in the Trading Platform, then such embedded third-party software shall be provided subject to the terms of this Agreement which apply to the Trading Platform. We provide no express or implied warranty, indemnity, or support for the Third-Party Licenses, and will have no liability. You as a client are permitted to use the services of the Company, pursuant to these Terms and Conditions in good faith and to this end, you are not permitted to use any electronic device, software algorithm or any trading strategy or arbitrage practices (example: latency abuse, price manipulation or time manipulation) which aims to manipulate or obtain an unfair advantage of the bid and offer prices.
3.6. We reserve any and all rights to the Trading Platform not expressly granted to you by this Agreement. The Trading Platform is to be used by you solely for facilitating trading with the Company and under no circumstances is sold to you. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill, copyrights, trademarks, logos, know how, patents and any intellectual property rights, are and shall remain owned solely by the Company or our licensors. Other than provided above in this paragraph, no other license, right, or interest in any goodwill, trademark, copyright, logo, know how, patent, service mark or other Intellectual Property Right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.
3.7. We reserve the right under this Agreement and at our own discretion, that we may, at any time without notice to you, transfer you to a different Trading Account Type, based on our internal evaluation.
3.8. You shall take all reasonable steps to:
a) procure and maintain in proper working order, throughout the term of this Agreement and at your own expense, the hardware, operating environment (including operating system software), backup means and infrastructure necessary for the installation, operation and maintenance of the Trading Platform (including without limitation uninterruptible power systems and electrical back-up devices);
b) prevent any virus infections, security breaches, and other disabling events from damaging the Trading Platform due to your actions or omissions;
c) implement and plan to operate and maintain appropriate protection in relation to the security and control of access to your computer, computer viruses or other similar harmful or inappropriate materials, devices, information or data.
3.9. We will deliver the Trading Platform with reasonable skill and care.
3.10. From time to time and at our sole discretion, we shall have the right to add to, modify, or remove any part of the Trading Platform or undertake routine construction on the server. By doing so we are taking into consideration our regulatory obligations and to the extent we deem as appropriate in order not to negatively affect your best interests, we may notify you via Trading Platform alert or internal mailing system, or some other mean of communication. The fact that a client may not receive such a notice does not constitute a breach based on this agreement.
3.11. We have the right to shut down the Trading Platform at any time for maintenance purposes provided that a relevant written notice of two (2) days is provided by the Company. In these cases, the Trading Platform will be inaccessible.
3.12. We make no express or implied representation or warranty:
a) that the Trading Platform will be available for access all the time, or at any time on a continuous uninterrupted basis (access to the Trading Platform may be affected, for example, by routine maintenance, repairs, reconfigurations or upgrades);
b) as to the operation, quality or functionality of the Trading Platform;
c) that the Trading Platform will be free of errors or defects; and
d) that the Trading Platform is free from viruses or anything else that has contaminating or destructive properties including where such results in loss of or corruption to your data or other property. We will not be liable for any data lost or any equipment or software replaced by you as a result of use of the Trading Platform.
3.13. You:
a) may only use the Trading Platform for so long as you are authorized to do so;
b) may not use the Trading Platform for any purpose other than for the purpose for which it has been provided under this Agreement; and
c) are responsible for the use of the Trading Platform (including the Account Credentials) by you.
3.14. You agree not to:
a) use the Trading Platform for illegal or inappropriate purposes;
b) (nor attempt to) interfere with or disrupt the proper operation of our software, hardware, systems or networks, including (but not limited to) not knowingly or negligently transmitting files that may interrupt, damage, destroy or limit the functionality of any computer software, hardware, systems or networks, including corrupted files or files that contain viruses, Trojan horses, worms, spyware or other malicious content;
c) use software that could prevent the Company from tracking your location and/or provide you with anonymity of location, also the usage different IP address and/or Multiple IP address as this is deemed a manipulating the fair-trading guidelines of our trading Platform.
d) perform abusive trading;
e) send massive requests on the server which may cause delays in the execution time;
f) attempt to gain unauthorized access to our computer system or the computer system(s) of any other user, or to parts of the Trading Platform to which you do not have access rights or attempt to reverse engineer or otherwise circumvent any security measures that the Company has applied to the Trading Platform;
g) take any action which does or may cause the provision of the Trading Platform to other users to be interrupted or degraded;
h) convey any false, unlawful, harassing, defamatory, abusive, hateful, racial, threatening, harmful, vulgar, obscene, seditious or otherwise objectionable or offensive material of any kind or nature;
i) carry out any commercial business on the Trading Platform;
j) knowingly or negligently upload or download files that contain software or other material protected by copyright, trademarks, patents or other intellectual property rights (or by rights of confidentiality or privacy of publicity, where applicable) unless you own or control the rights thereto or have received all necessary consents;
k) falsify the origin or source of any content or other material;
l) use any software, which applies artificial intelligence analysis to the Company’s systems and/or Trading Platform;
m) intercept, monitor, damage or modify any communication which is not intended for him;
n) use any type of spider, virus, worm, Trojan-horse, time bomb or any other codes or instructions that are designed to distort, delete, damage or disassemble the Trading Platform or the communication system or any system of the Company;
o) send any unsolicited commercial communication not permitted under applicable law or Applicable Regulations;
p) do anything that will or may violate the integrity of the Company computer system or Trading Platform or cause such system(s) to malfunction or stop their operation;
q) do any action that could potentially allow the irregular or unauthorized access or use of the Platform; or
r) unlawfully log into the Trading Platform and execute an order to buy or sell a Financial Instrument from a location or IP address originating from a region or jurisdiction where it is not allowed for regulatory reasons.
s) use any electronic device, software algorithm, Internet bot, web robot, robot or simply bot, or any software application that runs automated tasks (scripts) over the Internet, usually with the intent to emulate human activity on the Internet, Artificial Intelligence and/or any other electronic equipment or interfaces that could provide an unfair trading advantage against the Company.
t) to exploit, or use in bad faith or implement unfair strategies with the Specific Funds received either from the Company’s bonus schemes, promotions and/or gifts or via any agreements or arrangements by which your trading account has been credited by the Company for the purpose of trading.
u) To withdrawal the Specific Funds from your trading account.
v) to take actions that may circumvent the fair-trading rules or breach the Client, Company relationship.
w) To open a second trading account in the Company’s trading platform using the same Client information.
3.15. You shall not be entitled to download, save or copy the Trading Platform.
3.16. Should we reasonably suspect that you have violated the terms of paragraphs 3.13 – 3.14 hereunder, we are entitled to take one or more of the counter measures Events of Default of paragraph 24 hereunder.
4. Account Credentials and Security
4.1. In the event that we accept you as our Client, we shall open a Trading Account in your name which will allow you to place Orders on our Trading Platform. It is agreed and understood that the Company offers different types of Trading Accounts, which have different margin Requirements and characteristics. Account Types can be found on our web-site https://www.evest.com/evest-trading-account-types.
4.2. In order to access the Trading Account, you will be asked to enter your Account Credentials issued by us to you, which are confidential and shall be used solely by you.
4.3. You:
a) are responsible for ensuring that your Account Credentials remain confidential and for taking such other precautions as may be necessary to ensure they cannot be used by any person other than you or your authorized representative and making sure that a third party is not provided access to your computer for example via using team viewer to turn on control on your computer;
b) must notify us immediately if you become aware that your Account Credentials have in any way become compromised or if any third party may be able to access the Trading Platform; and
c) You agree we do not have to establish the authority of anyone quoting your Trading Account number or Account Credentials. The use of your Account Credentials by any third party is expressly prohibited.
4.4. If we believe that there is likely to be a breach of security, we may require you to change your Account Credentials or suspend your access to the Trading Platform. We reserve the right to edit, amend or issue you with new Account Credentials or require a change of your Account Credentials at any time, by giving notice to you.
4.5. You are responsible for ensuring that you alone control access to your Account Credentials, and that no minor or other person is granted access to the Trading Platform using your Account Credentials. You acknowledge that you are ultimately and solely responsible for all actions on the Trading Platform through your Registration Data, including any unauthorized disclosure of your Account Credentials. We reserve the right to not permit access to your account or to any person that you have authorized unless they have been fully verified and approved by the compliance departments of the Company.
4.6. You undertake to immediately notify us immediately first orally via the customer support department and then in writing if you become aware of any loss, theft or use by any other person or entity other than you, of any of your Registration Data, including your Account Credentials. We will then take steps to prevent any further use of such Account Credentials and will issue replacement Account Credentials. You will be unable to place any Orders until you receive your replacement Account Credentials.
4.7. If we are informed from a reliable source that your Account Credentials may have been received by unauthorized third parties, we may, at our discretion without having an obligation to notify you in advance, deactivate the Trading Account.
4.8. You as the Client are permitted to access, store, display, analyze, modify, print the information that is available to you and relates to the operations of your trading accounts(s) via the trading platform and client’s portal. You are not permitted to publish, transmit or reproduce or otherwise provide access to third parties, without prior disclosure and consent by the Company.
4.9. You acknowledge that we bear no responsibility if unauthorized third persons gain access to information, including electronic addresses, electronic communication, personal data and Account Credentials when the above are transmitted between the parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
4.10. You shall indemnify, defend, and hold us harmless from any claim, proceeding, loss or damages based upon any use, misuse, or unauthorized use of the Trading Platform through your Account Credentials.
How to open, and maintain your account
Applying for an account
4.11. To apply for an account, you will need to complete an online application form and provide us with KYC information that we request, so that we can identify you, verify your identity, and conduct fraud checks, sanctions checks, anti-money laundering and counter-terrorism (“AML/CTF”) checks, and any other checks as required by Applicable Law, including without limitation, the Foreign Account Tax Compliance Act (“FATCA”), as required by our internal procedures. This means we will require you to provide us with personally identifiable information, the countries where you are a resident and tax resident, confirmation of whether or not you are a US citizen or whether or not your place of birth is in the US or any other information which will be required under Applicable Law. If you are transferring your account from another Evest group company, we may but are not required to waive one or more of these requirements, if permitted by Applicable Law.
4.12. If you are applying for an account on behalf of a business, you must have the authority to enter into agreements, including this Agreement, on behalf of that business.
4.13. If you have more than one account, we may combine your accounts into one. We may also place limits on the number of accounts which you may hold, as well as the number of accounts which one household may hold.
4.14. The payment method must belong to you, and must be in your name. We do not accept money from people who are not you. We may require you to provide us with documents to verify the details, and the ownership of your payment method. If we cannot verify the details of your payment method, or if we cannot verify that the payment method belongs to you, you will not be able to deposit money into your account, and therefore will not be able to use our Services.
4.15. We may process your deposits and withdrawals, and reserve the right to use electronic wallets and payment processing accounts operated by an Evest affiliate. To the extent permitted by Applicable Law, if you withdraw funds from your account to another account operated by another Evest Group entity, including an electronic wallet (crypto, fiat or any other wallet), we may instruct the Evest Group entity to reverse the withdrawal (and return the money to the original account where it will be subject to these Terms and Conditions, including any set-off right), freeze, or block the relevant withdrawal(s) to the extent that we have indications that you have breached theses Terms and Conditions, including any rules of trading see paragraph13 – General Rules of Trading in our sole discretion.
Provision of information
4.16. We may, from time to time, require additional information and/or documents (including as required by anti-money laundering and counter-financing of terrorism regulations and any other similar regulations applicable to us and to your trading (“AML/CFT”), as well as for anti-fraud measures or any other related internal procedures), or clarifications to information and/or documents which you have provided to us.
4.17. If any information which you have provided to us under this clause 4.11 – “How to open, and maintain your account” changes, you should tell us, in writing, as soon as possible, and no later than 30 days after the change takes place.
4.18. The information you provide to us must be complete, accurate and not misleading. If you do not provide us with the required information, or if you provide inaccurate, incomplete or misleading information, we will not be able to open an account for you, or, if you already have an account, we may freeze, block, or close your account. We may not be able to pay out any funds standing to the credit of your account if you do not provide us with the documents we may require of you pursuant to AML/CFT law and regulation, or any other Applicable Law.
Closing or blocking access to your account and/or Services
4.19. You can close your account at any time by sending us an email. Your account will be closed within the seven days after we receive your email.
4.20. We will execute as well as close (as applicable) any orders which you have placed before requesting to close your account in accordance with clause 4.19 above. We may, in our discretion, permit you to place new orders during the seven-day period, and will subsequently execute and/or close (as applicable) such orders before the seven-day period expires. You will need to pay the associated fees for any orders which we execute or close.
4.21. If you have trades which are open, you should close these trades. Otherwise, we will close all of your trades when we close your account. If this causes you to lose money, we will not be responsible.
4.22. We may also freeze, block, or terminate our Services and/or your account if:
a) we decide to stop providing you with Services;
b) we require you to provide us with information under clause 4.11 – “How to open, and maintain your account”, and to enable us to comply with our obligations under Applicable Law and/or internal procedures, and you cannot or do not provide us with the information, or the information you provide to us is inaccurate, incomplete or misleading;
c) you breach the rules of trading. We explain our rules of trading in paragraph13 – General Rules of Trading;
d) an “Event of Default” occurs. We explain what an Event of Default is in paragraph 24 – “Event of Default”;
4.23. We will take reasonable steps to provide you with appropriate notice if we freeze, block, or terminate our Services and/or your account. However, there might be times when we are required to freeze, block, or terminate our Services and/or your account without telling you in advance. We will do this if we reasonably believe that there is a security or regulatory risk, you have breached the Agreement, or if we are required to do so by Applicable Law or by a regulator, and/or there is an application, order, resolution or another announcement in relation to a winding up/bankruptcy in which you are involved. If the above case causes you to lose money, we will not be responsible.
5. Intellectual Property
5.1. You acknowledge that all Intellectual Property Rights in the Trading Platform are owned by us or our licensors.
5.2. You will not:
a) copy, record, edit, alter or translate any of the Trading Platform, or any part of the Trading Platform. This shall include, without limitation not removing, editing or otherwise interfering with (or attempting to remove edit or otherwise interfere with) any names, marks, logos or branding on the Trading Platform;
b) reverse engineer, disassemble or otherwise attempt to derive source code for the Trading Platform in whole or in part except to the extent expressly permitted by law; and
c) in any manner damage or impair any of our Intellectual Property Rights, and shall use your best efforts to protect our Intellectual Property Rights from infringement by third parties.
5.3. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill and any Intellectual Property Rights in the Trading Platform, are and shall remain owned solely by us or our licensors. Except for the license granted under this Client Agreement, no other license, right, or interest in any goodwill or Intellectual Property Right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.
5.4. Unless expressly permitted in this Agreement, you shall not:
a) assign, sublicense, transfer, pledge, lease, rent, distribute or share the Trading Platform or any rights thereto under the Client Agreement;
b) separate any component part of the Trading Platform, or separately use any component part thereof on any equipment, machinery, hardware or system whatsoever;
c) decompile, disassemble, reverse compile, reverse engineer, create derivative works of or reproduce (other than one copy solely for backup and archival purposes) the Trading Platform or any parts thereof;
d) remove or destroy any proprietary marking or legends placed upon or contained within the Trading Platform;
e) develop methods to enable unauthorized parties to use the Trading Platform;
f) attempt to reconstruct or discover any source code, underlying ideas, algorithms, file formats or programming or interoperability interfaces of the Trading Platform by any means whatsoever;
g) provide, lease, lend, use for timesharing or service bureau purposes, or otherwise use or allow others to use the Trading Platform for the benefit of third parties;
h) work around any technical limitations in the Trading Platform, or use any tool to enable features or functionalities that are otherwise disabled in the Trading Platform;
i) use similar processes and functions to develop competing features or functions with the Trading Platform;
j) use the Trading Platform or any Financial Data to conduct any fraudulent, inappropriate or illegal activities, including without limitation deceptive impersonation;
k) permit or encourage any third party to do any of the foregoing.
6. Application and Registration Data
6.1. In order to use the Trading Platform and our Services, you must register with us by providing personal details, such as name and date of birth and including identification documents (e.g. valid Passport and recent Utility Bill), as Registration Data to be in line with KYC requirements. After you fill in and submit the Account Opening Application Form together with all the required KYC identification documentation and Registration Data required by us for our own internal checks, we will send you a notice informing you whether you have been accepted as a Client of the Company. It is understood that we are not to be required (and may be unable under Applicable Regulations) to accept a person as our Client until all documentation we require has been received by us, properly and fully completed by such person and all internal Company checks (including anti-money laundering checks) have been duly satisfied. Furthermore, the Company retains the right, during the business relationship with the Client, to request at any time any other documentation and/or information from the Client that the Company considers necessary as part of the Company’s ongoing monitoring of the Client’s activity. It is further understood that we reserve the right to impose additional due diligence requirements to accept Clients residing in certain countries.
6.2. You agree and undertake to:
a) notify us of any changes to your personal and financial information and/or in your financial condition by emailing [email protected].
b) provide true, accurate, current and complete Registration Data as prompted by the registration process;
c) maintain and promptly update the Registration Data to keep it accurate, current and complete by emailing any changes to [email protected] and
d) ensure that you log out from your Trading Account at the end of each session on the Website;
e) We may carry out credit and other checks from time to time as we deem appropriate. Your Registration Data or other information may be used in the prevention of money laundering as well as for the maintenance of your account. You authorize us to use your Registration Data and other information to perform the above checks in relation to your application process;
f) You agree to inform us immediately if any changes in your personal information that may affect the operation of your account;
g) In the event we become aware of any illegal activity or impropriety in the Registration Data, we may freeze your account. Should such an event occur we may not be in a position to release funds and may not be able to carry out subsequent instructions from you.
h) In the event of failure of any due diligence requirement (e.g. failure to provide the Company with the requested identification documents within the requested timeframe), any funds deposited with the Company will be immediately returned to the same account and source from which they originated and the business relationship between you and the Company will be terminated.
i) In the event that the Company is suspecting fraud, manipulation arbitrage or other forms of deceitful or fraudulent activity in a Client’s account(s), the Company is entitled to withdraw any profits and charge additional costs which are deemed as adequate at its sole discretion and shall not be liable for the cancellation of any trading transaction or profits or in the event of damages or losses which may result from the suspension of the Account, closure or unwinding.
6.3. Once logged onto the Trading Platform using your Account Credentials, you authorize us to rely upon any information or instructions set forth in any data transmission using your Registration Data, without making further investigation or inquiry. Without limitation of the foregoing, we have no responsibility for transmissions that are inaccurate or not received by us, and we may execute any Transaction on the terms actually received by us.
6.4. In the case where the Client is a legal person, it is obliged to obtain a legal entity identifier (“LEI”) from an appropriate authority duly licensed to provide legal entity identifiers. In the case of a legal person, the Client may not (where provided by Applicable Regulations) be able to execute any Transactions with the Company if it does not possess a legal entity identifier.
7. Services
7.1. The Company will engage in securities or financial instruments transactions with the Client pursuant to the terms and conditions provided for in this Agreement.
7.2. Under this Agreement, the Company shall:
a) provide access to:
i. trading platforms (i.e. software enabling electronic data transmission from the Client to the Company by means of personal stationary or portable computer or other device equipped with a modem via an authorized data transmission network appointed by the Company);
ii. technical analysis facilities; and
iii. any third-party information services provider(s) with the view of entering into transactions with securities or financial instruments offered by the Company pursuant to this Agreement.
b) provide access to any online software or services offered by the Company enabling to establish a contact with the Company or its authorized third-party service provider, and to obtain information, including rates/quotes, from the Company or its authorized third-party service provider.
7.3. The Client agrees that the Company may at its sole discretion change, add, rename or leave unchanged the services provided hereunder by notifying the Client in advance in accordance with relevant provisions of this Agreement.
7.4. The Client acknowledges and accepts that there is no actual supply of currency or other underlying asset under this Agreement.
8. Advice and Commentary
8.1. The Client hereby expressly acknowledges and understands that:
a) the Company will offer execution-only dealing services to the Client and such other additional services as may from time to time be agreed between the Company and the Client in writing;
b) no advice on the merits or suitability of any transaction entered into pursuant to this Agreement shall be provided by the Company to the Client;
c) the Company will not manage or monitor Client’s investments;
d) execution by the Company of any order on Client’s behalf shall not in any way imply any approval or recommendation of that transaction by the Company;
e) the Company has set out various risk disclosures both in this Agreement and on the Company’s website which make part of this Agreement;
f) the Company will not, unless specifically agreed to in writing, be acting in a fiduciary capacity or provide any personal recommendation to the Client in respect of, nor provide any advice on the merits of, any transaction in securities and financial instruments;
g) the Client should make his own assessment of any transaction that he is contemplating in the light of Client’s own objectives and circumstances, including without limitation the possible risks and benefits of entering into that transaction;
h) the Client should not rely on any information, proposal or other communication from the Company as being a recommendation or advice in relation to that transaction.
8.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client may wish to seek independent advice before entering into a Transaction/if he is in any doubt as to whether he may incur any tax liabilities. The Client is hereby warned that tax laws are subject to change from time to time.
8.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website, or provide to subscribers via its Website or otherwise) with information, news, market commentary or other information. Where it does so:
a) the Company will not be responsible for such information; the Company provides no representation, warranty or guarantee as to the accuracy and completeness of such Information or as to the tax or legal implications of any related Transaction;
b) this information is provided solely to enable the Client to make his own investment decisions and does not constitute to any advice or unsolicited financial promotion to the Client;
c) if the information contains a restriction on the person or category of persons or target market for whom that document is intended or to whom it is distributed, the Client agrees that he will not distribute it or share it with or pass this on to any such person or category of persons;
d) Published research reports or general recommendations may be visible or appear to a client via different means and in one or more screens and as part of different subscriptions to receive information. We cannot guarantee that the client will receive such information and we cannot guarantee that the time of receiving this information will be the same as the time receive by other clients/ recipients of this information.
8.4. It is understood that market commentary, news, or other information provided or made available by the Company to the clients or visitors of the website are subject to change, amendments, withdrawal at any time and without prior notice.
9. Confidentiality of Personal Data
9.1. The Company may collect Client information directly from the Client (in his completed Account Opening Application Form or from his use of the Website otherwise) or from other persons including, for example, the credit reference agencies, fraud prevention agencies, banks, other financial institutions, third authentication service providers and the providers of public registers. Therefore, the Client hereby acknowledges and agrees to the collection and processing of personal data provided by the Client in connection with the opening of a trading account for the purpose of performing our obligations under these Terms and Conditions and for administering the relationship between the Client and us.
9.2. Client information which the Company holds is to be treated by the Company as confidential and will not be used for any purpose other than in connection with the provision, administration and improvement of the Services, anti-money laundering and due diligence checks, for administration of the Services, for research and statistical purposes and for marketing purposes. Information already in the public domain, or already possessed by the Company without a duty of confidentiality will not be regarded as confidential.
9.3. The Company may on some occasions share your Personal Data with third parties in order to provide you with the Services and improve your trading experience, in accordance with the applicable laws and the Company’s Privacy Policy. The Company will not disclose your Personal Data to any third party without your prior consent.
9.4. The Company has the right to disclose Client information (including recordings and documents of a confidential nature, card details) in the following circumstances:
a) where required by law or a court order by a competent Court.
b) where requested by VFSC or any other regulatory authority having control or jurisdiction over the Company or the Client or their associates or in whose territory the Company has Clients.
c) to government bodies and law enforcement agencies where required by law and in response to other legal and regulatory requests;
d) to relevant authorities to investigate or prevent fraud, money laundering or other illegal activity;
e) where necessary in order for the Company to defend or exercise its legal rights to any court or tribunal or arbitrator or governmental authority;
f) to such an extent as reasonably required so as to execute Orders and for purposes ancillary to the provision of the Services;
g) to payment service providers and banks/credit institutions processing your transactions;
h) to auditors or contractors or other advisers auditing, assisting with or advising on any of our business purposes; provided that in each case the relevant professional shall be informed about the confidential nature of such information and commit to the confidentiality herein obligations as well;
i) only to the extent required and only the contact details to other service providers who create, maintain or process databases (whether electronic or not), offer record keeping services, email transmission services, messaging services or similar services which aim to assist the Company collect, storage, process and use Client information or get in touch with the Client or improve the provision of the Services under this Agreement.
j) only to the extent required, to other service providers for statistical purposes in order to improve the Company’s marketing, in such a case the data will be provided in an aggregate form.
k) only to the extent required, to market research call centers that provide telephone or email surveys with the purpose to improve the services of the Company, in such a case only the contact details will be provided.
l) where necessary in order for the Company to defend or exercise its legal rights to any court or tribunal or arbitrator or governmental authority.
m) to anyone authorised by you.
n) to an Affiliate or introducing broker of the Company or any other company in the same group of the Company.
o) to any third-party where such disclosure is required in order to enforce or apply our Terms and Conditions or other relevant agreements.
p) to successors or assignees or transferees or buyers, with fifteen (15) Business Days prior Written Notice to the Client; this will happen in the event that the Company decides to sell, transfer, assign or novate to a third party any or all of its rights, benefits or obligations under the Agreement with you or the performance of the entire Agreement subject to providing fifteen (15) Business Days Prior Written Notice to the Client. This may be done without limitation in the event of merger or acquisition of the Company with a third party, reorganisation of the Company, winding up of the Company or sale or transfer of all or part of the business or the assets of the Company to a third party.
9.5. You acknowledge our processing of all such information for the purposes of performing our duties and obligations under this Agreement and for the purpose of administering the relationship between you and us. You agree we may share your personal information with third parties for these purposes and we may also use the information for analysis and improving our product and services in line with our Privacy Policy found on our Website https://www.evest.com/legal-files/privacy-policy?license=va.
9.6. You recognize that you may receive commentary, analysis, market updates and/or confidential or proprietary information, provided that you prior consent for the provision of such information is collected by the Company. You further acknowledge that you are entitled to withdraw such consent at any time by contacting us at [email protected].
9.7. In the event that you have consented to the use of your personal data by the Company for marketing and information management purposes, or to conduct market research for the Company, then the Company may share these data with other companies in its group or with carefully selected external parties that may use the personal data to provide you with information about the products and services that may be of your interest. You further acknowledge that you are entitled to withdraw consent at any time by contacting us at [email protected] .
9.8. You must read and acknowledge the Privacy Policy of the Company available online: https://www.evest.com/legal-files/privacy-policy?license=va. All information belonging to or relating to us including, without limitation, information concerning business plans, customers, supplies, services, Intellectual Property Rights and/or financial information received by you as a result of entering into or performing the Client Agreement which is designated as confidential by us or is otherwise clearly confidential in nature constitutes “confidential information”.
9.9. You agree not to use our confidential information for any purpose other than the purpose for which it is supplied to you under the Client Agreement and agree not to divulge confidential information received from us to any third party, and to prevent its disclosure to or access by any third party without our prior written consent except as may be required by law or any legal or regulatory authority.
9.10. You will use a reasonable degree of care to protect our confidential information. This obligation will survive the termination of this Agreement, in respect of a particular item of confidential information, until such earlier time as that item of confidential information reaches the public domain other than through your breach of this term.
10. Administration and Marketing
10.1. You accept that the Company may, for the purpose of administering the terms of the Agreement, from time to time, make direct contact with the Client by telephone, fax, email, or post.
11. Telephone Calls, Faxed Documents and Records
11.1. Telephone conversations between the Client and the Company may be recorded and kept by the Company and recordings will be the sole property of the Company. The Client accepts such recordings as conclusive evidence of the Orders or conversations so recorded.
11.2. Faxed documents received by the Company may be electronically scanned and reproduction of the scanned version shall constitute conclusive evidence of such faxed instructions.
11.3. Our records will be evidence of your dealings with us in connection with the Trading Platform.
11.4. The Company will keep records containing Client personal data and account opening documents, communications and anything else which relates to the Client, for at least six years after termination of the Agreement or a Transaction.
12. Trade Confirmations
12.1. The Company provides to the Client access to an online system on which the Client can obtain information concerning the execution of his Order.
12.2. Furthermore, the Company shall supply the Client, on request, with information about the status of his Order.
13. General Rules of Trading
13.1. Without prejudice to any other provisions herein, once the Client places an Order on the Trading Platform, the Company arranges for the execution of the said Order. It is understood that the Company executes the Client Orders in CFDs as a principal against the Client, i.e. the Company is the Execution Venue for the execution of the Client Orders.
13.2. You acknowledge and agree that each Transaction conducted on the Trading Platform, is comprised of first an offer by you to us to complete a Transaction (whether such offer is to open a Position or close an Open Position) at a certain price quoted on the Trading Platform, and our subsequent acceptance of your offer. An Offer will be deemed to have been completed only when your offer has been received and accepted by us. Our acceptance of an offer will be evidenced by our confirmation of its terms to you and its completion.
13.3. You may request to cancel or amend a Transaction at any time prior to our completing such a Transaction.
13.4. We reserve the right to void from the outset any Transaction containing or based on any Manifest Error. In the absence of our fraud or willful default, we will not be liable to you for any loss, cost, claim, demand or expense following any Manifest Error.
13.5. You shall comply with any restrictions that we notify to you from time to time with respect to your activities on the Trading Platform, including without limitation, the size of Transactions or other conditions that may apply to our Quote.
13.6. You acknowledge that the Trading Platform is independent of any Underlying Markets and we are under no obligation to quote a particular price or follow the trading rules consistent with such Underlying Markets. You further acknowledge that the triggering of your Order is linked to the prices quoted on the Trading Platform, with reference to market data. Prices provided by the Company are not linked to the prices quoted elsewhere on the relevant Underlying Markets and the Company does not guarantee that when executing an Order its price will be more favorable than one which might be available elsewhere. In determining whether the prices quoted on the Trading Platform reach or exceed the price accepted by us in a Transaction, we will be entitled (but not obliged), in our absolute discretion, to disregard any prices quoted on our Platform during any pre-market, post-market or intra-day auction periods in the relevant Underlying Markets, during any intra-day or other period of suspension in the relevant Underlying Markets, or during any other period that in our reasonable opinion may give rise to short-term price spikes or other distortions.
13.7. When you place an Order on the Trading Platform, you agree that you are not dealing on a recognized exchange.
13.8. You undertake and agree not to use the prices quoted on the Trading Platform for any purpose other than for your own trading purpose, and you agree not to redistribute our prices to any other person whether such redistribution is for commercial or other purposes.
13.9. You acknowledge that each Transaction is made for a specified number of units that constitute the Underlying Asset. You may only complete Transactions on the Trading Platform for the minimum number of units as set forth on the Trading Platform as the “Unit Amount”, and in multiples of such “Unit Amount” up until the maximum amount permitted by the Trading Platform. You acknowledge and agree that we may set, in our sole and absolute discretion, the “Unit Amount” for each Underlying Asset.
13.10. The Company reserves the right under its own discretion to limit the number of open positions the Client may open, regardless of the presence of guarantees provided by the Clients. The Company, may take these actions should it deem that the Client is exposed to high volatility in the market and the potential associated risks of such volatility. These actions should be regarded as protective measure for the Client.
13.11. Each Position opened by you, and any Transaction completed, will be binding on you.
13.12. You may request a Quote to open or close a Position for a particular Underlying Asset, at any time during the Trading Hours for such Underlying Asset. We will be under no obligation to but may, in our absolute discretion, provide a Quote and accept and act on your offer to open or close a Position for an Underlying Asset outside of the Trading Hours of such Underlying Asset. In some cases, Transactions may only be traded during the time when the relevant Underlying Market is open. Trading Hours are displayed on the Trading Platform under the details link for each specific Underlying Asset. It is your responsibility to ensure you are aware of which Underlying Asset may be affected.
13.13. Without prejudice to any of our right hereunder, if, prior to the acceptance of your Order to open or close a Position, we become aware that any of the factors set out in paragraph 13.13 herein, has not been met, we reserve the right to reject your Order outright. If we have, nevertheless, already opened or closed a Position prior to becoming aware that a factor set out in paragraph 13.13 herein has not been met, we may in our discretion, either treat such a Transaction as void from the outset or close the Open Position at our then prevailing price. However, we may, in our absolute discretion, allow you to open or, as the case may be, close the Open Position in which case you will be bound by the opening or closure of such Position, notwithstanding that the factors in paragraph 13.13 herein were not satisfied.
13.14. The factors referred to in paragraph 13.12 include the following:
a) the quote must be obtained via the Trading Platform or by such other means as we may from time to time notify you;
b) your offer to open or close the Position must be given while the quote is still valid;
c) the Quote must not contain a Manifest Error;
d) when you offer to open a Position, the number of units in respect of which the Transaction is to be opened must be neither smaller than the minimum unit amount specified on the Trading Platform, as applicable, from time to time, nor greater than the amount permitted in accordance with the terms of this Agreement;
e) when you offer to close part but not all of an open Position both the part of the Position that you offer to close and the part that would remain open if we accepted your offer must not be smaller than the minimum unit amount specified on the Trading Platform;
f) Force Majeure Event must not have occurred when you offer to open or close a Transaction, which affect the execution of the Transaction;
g) An Event of Default must not have occurred in respect of you;
h) when you offer to open any Position, the opening must not result in your exceeding any Initial or Maintenance Margin amount, credit or other limit placed on your dealings;
i) subject to paragraph 13.12 herein, your offer must be given to us during the Trading Hours for the applicable Underlying Asset in respect of which you offer to open or close the Position;
j) the internet connection or communications are not disrupted;
k) there is no request of regulatory or supervisory authorities of Vanuatu or a court order to the contrary;
l) the legality or genuineness of the Order is under not under doubt;
m) there are normal market conditions; and
n) any other reasonable factor that we, in our sole discretion, notify you from time to time.
13.15. The Company is under no obligation, unless otherwise agreed between the Client and the Company, to monitor or advise the Client on the status of any Transaction. It is the Client’s responsibility to be aware of his positions at all times.
13.16. One or more of the Client’s trades may be affected by a corporate action type event (“Corporate Action”) the occurrence of which may have a dramatic effect on their trade(s) and/or on their trading account generally. A Corporate Action can include but is not limited to:
a) any rights, scrip, bonus, capitalization or other issue or offer of shares, warrants or options
b) any acquisition or cancellation of own shares by the issuer any reduction, subdivision, consolidation or reclassification of share capital
c) any distribution of cash or shares, including any payment of dividend
d) a take-over or merger offer
e) any amalgamation or reconstruction affecting the shares concerned
13.17. The Company will undertake any actions that it considers reasonable and necessary to give effect to the Corporate Action as it relates to the Client’s CFD trade(s). The actions the Company may take upon the occurrence of a Corporate Action are as follows:
a) the Client’s trading account may be credited or debited with an amount due
b) the Client’s open trades and/or working Orders including any Take Profit or Stop Loss Orders may be adjusted, closed or cancelled to reflect the terms of the Corporate Action
c) one or more new trades may be opened on the Client’s trading account, as soon as practicable and as a result of the corporate event
d) the Company may increase the margin factor in relation to the affected trade(s)
e) the Company may restrict access to the trading account so that the Client is not able to close one or more of the affected trades until after the Corporate Action has passed.
13.18. The Company recommends that before Clients open a trade with the Company they carry out their own research into whether the trade that they intend to open is liable to be the subject of a Corporate Action and if so the likely effect of that action on the trade that they wish to open.
13.19. The Client is responsible to ensure that sufficient amount of funds, is placed in the client’s account in order to make any additional transactions in financial instruments pursuant to the corporate action. The Company is not obliged to take any action on the client’s behalf if there no sufficient funds in place to proceed with such an action.
13.20. Insolvency. If a company, whose Underlying Asset forms the CFD goes into insolvency or is otherwise dissolved, we shall close any such of your open Transactions in CFD of that Underlying Asset. The closing date shall be the date of insolvency.
13.21. The Company will use reasonable efforts to execute an Order, but it is agreed and understood that despite the Company’s reasonable efforts transmission or execution may not always be achieved at all for reasons beyond the control of the Company.
13.22. If a Corporate Event impacts the Underlying of a CFD in your account, we will use reasonable endeavours to adjust the open positions on that CFD, in a fair way and in accordance with market practice, and/or taking into account the treatment we may receive from our counterparties or any relevant third party and the deduction of any taxes applicable. The adjustments we carry out will depend on the circumstances of each event, and is according to our sole discretion, however we are not obliged to do this. Adjustments may include changing the price or the quantity of CFDs that you have in your account to reflect the economic rights that you had prior to the Corporate Event occurring.
13.23. Notwithstanding clause 13.20 above, we reserve the right to close any open CFD positions where the Underlying product is impacted by a Corporate Event (including delistings and insolvency) in a fair way and taking into account the treatment we may receive from our counterparties and/or any relevant third party. In this respect we may make any required adjustment (price, quantity or any other adjustment) resulting from the Corporate Event as may be applicable. We may close your open positions prior to or following the Corporate Events, at our sole discretion.
13.24. We reserve the rights to close out any open positions at the market price immediately prior to the corporate event taking place.
Rules of trading
13.25. There are rules which you need to follow when using our Services. These are:
a) you must not reverse engineer or avoid any security measures on the trading platform;
b) you must not use any software, artificial intelligence, ultra-high speed, or mass data entry which might manipulate, game, abuse, or give you an unfair advantage when using our systems or Services;
c) you will not enter into trades which manipulate our platform, for example entering into a buy trade as well as a sell trade, for the same or for a similar product, at the same or similar time;
d) you will not enter into transactions or combinations of transactions such as holding long and short positions in the same or similar instruments at similar times either by you or by you acting in concert with others, including between connected accounts, or accounts held with different entities within the Evest Group, which, taken together or separately, are for the purpose of manipulating the Evest trading platform for gain;
e) you will not act in an unfair, abusive, manipulative, or illegal way when using our Services, for example scalping;
f) you will not enter into trades aimed at exploiting errors in prices and/or conclude trades at off-market prices; and/or
g) your order must not violate exchange rules or securities or commodities laws, regulations or rules, and/or be intended to defraud or manipulate the market.
13.26. If you breach any of the above rules we will record such breach. We may also cancel your orders, freeze, block and/or terminate our Services, your account, and/or our Agreement with you. We may, but are not required to, give you notice of this, subject to any Applicable Law.
13.27. The Client acknowledges and agrees to honor, abide by the Company’s general trading rules and not abuse, circumvent, manipulate, distort the general trading rules that the Company operates under. The Client also agrees and acknowledges that the Company can take any and all unilateral actions should any form of abusive trading be discovered pursuant to clause 14 below.
14. Improper or Abusive Trading
14.1. The company provides a client with an access to the platform to execute the trading orders. The environment in which this online trading platform operates is highly automated in order to provide streaming, tradable prices and as such you the client must accept that price misquotations can occur from time to time. Under no circumstances can the Company be held accountable to the client for any misquotation of trading prices nor will the Company accept the Client abusing a situation where a misquotation has occurred.
14.2. If it is discovered by the Company that the Client has implement a trading strategy with the objective of exploiting such a miscalculation or has acted in bad faith toward the Company. Then the company shall consider this behavior as improper or abusive pursuant to clause 2.1. of this agreement. Should the Company deem the any act as improper and abusive trading, then the Company will have the right to:
a) Conduct an internal investigation and suspend and/or cancel all you trading activities.
b) adjust the price spread available to you
c) restrict your access to streaming, instantly tradable quotes, including proving manual quotations
d) obtain from your account any historic trading profits that you have gained through such abuse of liquidity as determined by us at any time during our trading relationship
e) reject any order to cancel any trade
f) immediately terminate our trading relationship.
g) implement the Prohibited Withdrawal clause specified in this Agreement for any funds that the Company deems as unfairly obtained.
14.3. For the Avoidance of any doubt the following actions are deemed as abusive trading and/or will be deemed an Event of Default (Clause 24):
a) Slippage;
b) Scalping;
c) Multiple IP address usage;
d) Usage of prohibited software;
e) trading from banned jurisdictions;
f) usage of Specific funds provided by the Company from promotional campaigns in any other manner than that for the intended purpose or promotion;
g) any and all other trades conducted by the Client that have clearly abused, circumvented, manipulated and or distorted the general trading rules that the Company trading platform operates under and which have been discovered via an internal investigation carried out by the Compliance department of the Company.
14.4. Should any of the actions defined in Clause 14.3 above be discovered during the internal investigation conducted by the Company, then, the Company will be permitted to take any or all of the following actions:
a) suspended and/or terminate the Clients Account,
b) restrict the Client’s trading activity.
c) Cancel of profits gained.
d) Immediately cancel all trades that were executed by the Client.
e) Take legal action for any losses suffered by the Company.
15. Force Majeure
15.1. We may, in our reasonable opinion, determine that a Force Majeure Event exists. A Force Majeure Event will include, but is not limited to, the following:
a) any act, event or occurrence (including without limitation any strike, riot or civil commotion, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our opinion, prevents us from maintaining an orderly market in one or more of the FX and CFDs in respect of which we deal on the Trading Platform;
b) act of God, earthquake, tsunami, hurricane, typhoon, accident, storm, flood, fire, epidemic or other natural disaster making it impossible for the Company to offer its Services;
c) labor disputes and lock-out which affect the operations of the Company;
d) the suspension or closure of any Underlying Market or the occurrence, abandonment or failure of any Underlying Asset on which we base, or to which we in any way relate, our quote, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event;
e) suspension of trading on a Market, or the fixing of minimum or maximum prices for trading on a Market, a regulatory ban on the activities of any party (unless the Company has caused that ban), decisions of state authorities, governing bodies of self-regulating organizations, decisions of governing bodies of organized trading platforms;
f) a financial services moratorium having been declared by appropriate regulatory authorities or any other acts or regulations of any regulatory, governmental, or supranational body or authority;
g) the occurrence of an excessive movement in the level of any Transaction and/or Underlying Market or our anticipation (acting reasonably) of the occurrence of such a movement;
h) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or
i) the failure of any relevant supplier, Financial Institution, intermediate broker, agent or principal of ours, custodian, sub-custodian, dealer, Underlying Market, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations.
15.2. If we determine that a Force Majeure Event exists, we may, in our absolute discretion, without notice and at any time, take one or more of the following steps:
a) Suspend or modify the application of any or all terms of the Agreement to the extent that the Force Majeure Event makes it impossible or impractical for the Company to comply with them.
b) Take or omit to take all such other actions as the Company deems to be reasonably appropriate in the circumstances with regard to the position of the Company, the Client and other clients.
c) Shut down the Platform(s) in case of malfunction for maintenance or to avoid damage.
d) Close out all or some of the client’s open positions.
e) Refuse to accept Orders from Clients.
f) Inactivate the Client Account.
g) Increase Margin requirements without notice.
h) Decrease leverage levels
i) Close out any or all Open Positions at such prices as the Company considers in good faith to be appropriate.
j) Increase Spreads.
k) Decrease Leverage.
l) Change Stop Out Level.
15.3. You agree that we will not be liable in any way to you or to any other person in the event of a Force Majeure Event, nor for our actions pursuant to paragraph 14.2, if we decide to take such action. The Parties shall be released of all responsibilities for partial or full nonfulfillment, as well as for improper fulfillment of the obligations under this Agreement, if such non-fulfillment or improper fulfillment was a result of a Force Majeure Event, which occurred after the Client Agreement were concluded.
16. Margin Requirements and Margin Calls
16.1. In order to open a Position for an Underlying Asset, you undertake to provide the Initial Margin in your Trading Account. In order to keep a Position Open, you undertake to ensure that the amount in your Trading Account equals or exceeds the Maintenance Margin. Margin Requirements are available at the Platform. You acknowledge that the Margin for each Underlying Asset differs. Deposits into your Trading Account can be made by wire transfer or another method of payment, to a bank account, or other location, as we may notify to you from time to time. Based on the amount of money you have in your Trading Account, we retain the right to limit the amount and total number of open Transactions that you may wish to open or currently maintain on the Trading Platform.
16.2. It is your responsibility to ensure that you understand how Margin Requirements are calculated.
16.3. Unless a Force Majeure Event has occurred, the Company has the right to change the Margin requirements. The Company has the right to change Margin requirements without prior notice to the Client. The Company has the right to apply new Margin requirements to the new positions and to the positions which are already open where this is deemed necessary. All changes shall be effected on the Platform and/or the Website and the Client shall be informed via email. It is the Client’s responsibility to monitor at all times the amount deposited in his Trading Account against the amount of any Margin required under this Agreement and any additional margin that may become necessary to keep his/her positions open.
16.4. You are aware and acknowledge that we may, in our sole discretion, require you to take certain action in your Trading Account pursuant to a Margin Call. A Margin Call may be based upon a number of factors, including without limitation, your overall position with us, your account size, the number of open Transactions you have, volume traded, your trade history and market conditions.
16.5. The Company shall not have an obligation to make any Margin Call to the Client but in the event that it does, or in the event that the Trading Platform warns the Client that it reached a certain percentage of the Margin in the Trading Account, the Client should take any or any of the three options, within a short period of time, to deal with the situation:
a) Limit his exposure (close trades); or
b) Hedge his positions (open counter positions to the ones he has right now) while reevaluating the situation; or
c) Deposit more money in his Trading Account.
It is your responsibility to monitor the money in your account against your potential losses, the changes in margin required, and whether your position is close to your stop level.
16.6. Failure to meet the Margin Requirements at any time or failure to take an action under paragraph 16.5 of this Client Agreement, gives us the right in in our sole discretion, to close any and all of your Open Positions whether at a loss or a profit without further notice to you. It is your responsibility to monitor, at all times, the amount deposited in your Trading Account against the amount of Maintenance Margin required as a result of your trading decisions.
16.7. Margin shall be paid in monetary funds in the Currency of the Trading Account.
16.8. If you have more than one Trading Account with us, each Trading Account will be treated entirely separately. Therefore, any credit on one Trading Account (including amounts deposited as margin) will not discharge your liabilities in respect of any other Trading Account. It is your responsibility to ensure the required level of margin is in place for each Trading Account separately.
17. Settlement, Payments, Costs and Taxes
17.1. Upon completing a Transaction:
a) You shall be liable for the Difference if the Transaction is:
(i) a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction.
b) • You shall receive the Difference if the Transaction is:
(i) a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.
17.2. Unless we agree otherwise, all sums for which either Party is liable under paragraph 17.1 above in this Client Agreement are immediacy payable upon closing of the Transaction. You hereby authorise us to debit or credit your Trading Account with the relevant sums at the closing of each Transaction. It is understood that once you place an Order, until such Order is executed and the Transaction is closed, the Maintenance Margin shall be unavailable for withdrawal.
17.3. You shall be liable for any and all taxes, fees and assessments with respect to any Transaction you complete on the Trading Platform. It is your obligation alone to calculate and pay all taxes applicable to you in your country of residence, or otherwise arising as a result of your trading activity from the use of the Trading Platform. Additionally, you acknowledge and agree that the Company may apply certain processing fees that amount to 10% (ten percent) of the total deposited funds on your trading account with the Company (the “processing fees”). The processing fees shall be deducted by the client’s account solely in the case where the Company has assessed and verified that the concerned client has violated these Terms & Conditions, and the Company has proceeded with a closure of the client’s trading account with the Company.
17.4. It is possible that other costs, including taxes, relating to transactions carried out on the Trading Platform may arise for which you are liable and which are neither paid via us nor imposed by us.
17.5. You undertake to pay all stamp expenses relating to this Agreement and any documentation which may be required for the currying out of the Transactions under this Agreement.
17.6. It is hereby clarified that in relation to CFD trading, you are required to pay the Difference. A Swap fee is also applicable for CFDs trading, as this explained under paragraph 4 of the Appendix hereunder. In addition, the Company reserves the right to charge Commissions or add fees or charges for opening a Position in CFDs in the future, upon providing at least one month’s prior Written Notice to the Client. Commissions may also be charged.
17.7. The applicable fees or charges or commissions, from time to time, may be found on the Company’s Website https://www.evest.com/evest-trading-fees.
17.8. The Company has the right to vary its fees, charges and commissions from time to time according to the provisions of paragraph 21 of this Client Agreement.
18. Deposits and Withdrawals
18.1. Client’s funds held on a trading account will be deposited in an institution (the ‘Institution’) specified by the Company, on Client’s behalf. The funds will be segregated by the Company and held in accordance with applicable regulations in a segregated client account. The Company may hold the funds of different customers in the same account. It is further acknowledged that the Company is in collaboration with two paying agents for the provision of paying agent services in relation to the Company’s investment services:
• Atriafinancial Business Services Limited, a company incorporated in the Republic of Cyprus with registration number HE 419548 and having its registered address at Athallasas 62, Mezzanine, Strovolos, Nicosia, Cyprus, 2012. All payments related to Paysafe will be processed by Atriafinancial Business Services Ltd.
• Atriafinancial Capital Limited, a company incorporated in United Kingdom with registration number 10356128 and having its registered address at 11 Blackheath Village, London, England, SE3 9LA.
18.2. The Client may deposit funds into the Trading Account at any time during the course of this Agreement. Deposits will be made via wire transfer or any other the methods accepted by the Company from time to time. The Company will not accept third party or anonymous payments in the Trading Account. Deposits for Margin and any other deposits due will, unless otherwise agreed or specified by us, be required in the Currency of the Trading Account, based on your country of origin as specified in your address and as shall be specified on the Trading Platform. We shall not, and you shall not request us to, convert any monies standing to your credit or which have been paid by you into your Trading Account in one currency to another currency. The detailed information about deposit options is shown on the Website.
18.3. The Client accepts that the funds will be deposited in the trading account on the value date received by the Institution, net of any transfer fees or other charges incurred.
18.4. The Company shall have the right to request the Client at any time any documentation to confirm the source of funds deposited into the Trading Account. The Company shall have the right to reject a deposit of the Client if the Company is not duly satisfied as to the legality of the source of funds.
18.5. Once withdrawal request has been processed it might take a few days for your payment processor to update the balance in your account, depending on your payment processor’s policy and procedures. If the funds sent by the Client are not deposited in the Trading Account when they were supposed to, the Client shall notify the Company and request from the Company to make a banking investigation of the transfer. The Client agrees that any charges of the investigation may be deducted from his Trading Account or paid directly to the bank performing the investigation. The Client understands and agrees that in order to perform the investigation the Client shall have to provide the Company with the requested documents and certificates.
18.6. The Company may return any money which comes in from a payment method that is not in your name. If we are charged fees for returning your money, we will deduct an amount equal to that fee from the money which we are returning.
18.7. You may not be able to take money out of your account if it would leave insufficient funds in your account to pay for any unsettled transactions and/or applicable fees or charges.
18.8. The Company shall execute withdrawals of Client funds upon the Company receiving a relevant request from the Client in the method accepted by the Company.
18.9. Upon the Company receiving an instruction from the Client to withdraw funds from the Trading Account, the Company shall process the withdrawal request as soon as possible, if the following requirements are met:
a) the withdrawal instruction includes all necessary information in the Clients Area;
b) the instruction is to make a transfer to the originating account (whether that is a bank account, a payment system account etc.) from which the money was originally deposited in the Trading Account or at the Client’s request to a bank account belonging to the Client (supporting documentation will be requested);
c) the account where the transfer is to be made belongs to the Client;
d) at the moment of payment, the Client’s Balance exceeds the amount specified in the withdrawal instruction including all payment charges;
e) there is no Force Majeure event which prohibiting the Company from effecting the withdrawal.
f) the Client must be fully verified according to Verification guidelines set forth on the Website.
18.10. The Company shall take all the necessary actions to ensure that (i) the identity of the Client is appropriately verified, (ii) the transfer is effected to the account that belongs to the Client, (iii) the Client has sufficient funds in his Client Account in order to maintain all Open Positions.
18.11. It is agreed and understood that withdrawals will only be effected towards the Client. The Company will not to make withdrawals to any other third party or anonymous account.
18.12. The funds will be returned in the same method and to the same account from which they originated. The Company reserves the right to decline a withdrawal request of the Client asking for a specific transfer method.
18.13. The Company reserves the right to delay and/or decline any execution order sent by the Client if the Client does not fully comply with clause 18.9 and/or is not fully provided satisfactory document as requested by the Company.
18.14. All payment and transfer charges of third parties will be borne by the Client and the Company shall debit the relevant Trading Account for these charges.
18.15. Withdrawal fees may apply from time to time depending on the Client or type of Trading Account. The applicable fees may be found on the Company’s Website https://www.evest.com/evest-deposit-withdrawal.
18.16. Mistakes made by the Company during transfer of funds shall be refunded to the Client. It is understood that should the Client provide wrong instructions for a transfer; the Company may be unable to correct the mistake and the Client may have to bear the loss.
18.17. The Client acknowledges, agreed and accepts the reserved right of the Company’s in regards to the Prohibited Withdrawal clause as stated in Clause 2 above and any funds deemed by the Company to not be refundable as they have breached the trading rules of the Company policies.
19. Holding of Client Money
19.1. Money that you put into your account will be treated as “client money” in accordance with the Applicable laws and regulations. We will separate client money from our own money by putting it into a separate bank account with a bank or Electronic Money Institution (EMI). This is called a “client money account”. We are permitted to hold your client money, and other clients’ client money, together in the same client money account, which is called an “Omnibus Account”.
19.2. The financial institution to which the Company will pass Client money may hold it in an omnibus account. Hence, in the event of the insolvency or any other analogous proceedings in relation to that financial institution, the Company may only have an unsecured claim against the financial institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the financial institution is insufficient to satisfy the claims of the Client.
19.3. The Company shall not grant security interests, liens or rights of set-off over Client money enabling a third party to dispose of the Client’s money in order to recover debts that do not relate to the Client or provision of services to the Client, unless this is required by Applicable Law in the jurisdiction in which the Client money may be held. If the Company will enter into such an agreement, it will amend this Client Agreement accordingly to reflect this.
19.4. The Company provides to the Client access to an online system on which the Client can obtain information in relation to the Client money that the Company holds on behalf of the Client.
19.5. If we transfer/sell our business to someone else, in accordance with Applicable Law:
a) we will provide you with notice prior to the transfer;
b) we will require them to hold your transferred money in accordance with the client money rules; and
c) you authorize us to transfer your money. If you do not want your money to be transferred to another person, please contact us and we can help you close your account.
20. Netting and Set-Off
20.1. If the aggregate amount payable by the Client is equal to the aggregate amount payable by the Company, then automatically the mutual obligations to make payment are set-off and cancel each other.
20.2. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied and discharged.
20.3. In case of termination of the present Agreement, the Company has the right to combine all or any Trading Accounts opened in the Client name and to consolidate the Balances in such accounts and to set-off such Balances in the event of termination of the Agreement.
21. Inactive and Dormant Trading Accounts
Inactive Accounts:
21.1. If there are no transactions (deposits, withdrawals or trading activity) on your Trading Account for a period of at least 2 (two) Calendar months or more, this will be deemed as an inactive Account, the Company reserves the right, to charge an Inactivity fee on your Trading Account at the rate of 75 (seventy-five) USD per the first two months and 50 (fifty) USD every next month (Inactivity Fees), or the equivalent in the client trading account currency. Any open positions will be closed to cover the fees. You agree that you are liable to and will pay the applicable fee as notified to you from time to time and that we may deduct such fee from any funds held by us on your behalf.
21.2. Where you have more than 1 (one) Trading Account, and all Trading Accounts are classified as Inactive Accounts, the Fee will be charged separately for each Inactive Account.
21.3. Where you have more than 1(one) Trading Account and at least 1(one) of your trading Accounts is active, an Inactivity Fee shall apply only to your Inactive Account(s).
21.4. Should the balance of any Inactive Account to which the Inactivity Fee is applicable, be less than $50 (Fifty) USD, the Inactivity Fee for such accounts shall be equal to the amount of the remaining balance in the Inactive Accounts.
21.5. The Inactivity Fee will be charged from the second consecutive month of Inactivity and every successive inactive month that follows.
21.6. The aforementioned 2 (two) calendar months period shall be interrupted and reset (i.e., start over from day 1) upon placing a trade on the account and/or opening or closing a position and/or making a deposit on the account.
21.7. We reserve the right to charge the Inactivity Fee retroactively for any month in which we had the right to charge the fee but did not do so for technical reasons.
21.8. Any Inactive accounts with zero balance/equity shall be turned to Dormant Account (see Clause 21.5 above).
21.9. Any withdrawal (WD) made from an Inactive Account without any trading transaction after the funds deposit can be subject to a WD fee of 10% at the company’s discretion.
21.10. Any withdrawal (WD) made from an Inactive Account whereby the trading activity is less than 3 full lots can be subject to a WD fee of 10% at the company’s discretion.
21.11. An inactive trading account can be reactivated at the Client’s request sent to the Company’s Support Service, free of charge, provided that the Client’s debt to the Company for payments for servicing this or other inactive Client’s accounts is fully repaid (or doesn’t exist) and the Client is fully verified.
21.12. The Inactivity fee is charged exclusively from the Client’s own funds and not from any bonuses he has received or is entitled to receive from the Company.
Dormant Accounts:
21.13. Any trading Account(s) held with us where you have not placed a trade and/or not opened or close positions and/or not made a deposit into the account(s) for a period of 2 (two) calendar months shall be classified by us as a Dormant Account.
21.14. We also classify the account as Dormant in case you have a zero balance. In case the account is treated as dormant you will need to provide again your updated KYC documentation as requested by the Company.
MT5 Account Archiving
21.15. If we do not record any activity on your Trading Account during a continuous period of 30 calendar days, and your account balance or equity is zero, your Trading Account will be archived on our servers.
21.16. Should you wish to reactivate your Archived Trading account, please contact us at [email protected]. We reserve the right to request that you submit updated verification documents to reactivate your account as per the Company’s Compliance obligation.
22. Amendments
22.1. The Company may change any terms of the Agreement for any of the following reasons:
a) Where the Company reasonably considers that the change would make the terms of the Agreement easier to understand; or the change would not be to the disadvantage of the Client;
b) To cover the involvement of any service or facility the Company offers to the Client; or the introduction of a new service or facility; or the replacement of an existing service or facility with a new one; or the withdrawal of a service or facility which has become obsolete, or has ceased to be widely used, or has not been used by the Client at any time in the previous year, or it has become very expensive for the Company to offer;
c) To enable the Company to make reasonable changes to the services offered to the Client as a result of changes in the banking, investment or financial system; or technology; or the systems or Platform used by the Company to run its business or offer the Services hereunder;
d) As a result of a request of VFSC or of any other authority or as a result of change or expected change in Applicable Regulations;
e) Where the Company finds that any term in the Agreement is inconsistent with Applicable Regulations. In such a case, it will not rely on that term but treat it as if it did reflect the relevant Applicable Regulations and shall update the Agreement to reflect the Applicable Regulations.
22.2. The Company shall have the right to review its costs, fees, charges, commissions, financing fees, swaps, trading conditions, execution rules, roll over policy and trading times, found on the Company’s website and/or Platform, from time to time. Such changes shall be effected on the Website.
22.3. If we add a new term or change an existing term in these Terms and Conditions, we will take reasonable steps to provide you with appropriate notice, including via our website. You will be deemed to accept and agree to the changes if you continue to use the Services after the publication of any changes. We will treat you continuing to use our Services as you agreeing to the changes, but you can cancel your account with us at any time.
22.4. There might be times when we don’t tell you about a change to these Terms and Conditions, for example, if a change does not disadvantage you.
22.5. A copy of the most up to date version of these Terms and Conditions are available on our website.
22.6. We may modify, suspend or discontinue, temporarily or permanently, all or any part of our Services with or without notice. We reserve the right, at any time and for any reason, to discontinue, redesign, modify, enhance, change, patch the software, the platform, and/or the Services, including without limitation, the structure, specifications, navigation, features and other elements of the software and/or the Services or any part thereof. You agree that we will not be liable to you or to any third party (for whom you may be acting) for any modification, suspension or discontinuance of all or any part of our Services.
23. Commencement, Termination and Results of Termination
23.1. The Agreement shall take effect and commence upon the receipt by the Client of a notice sent by the Company informing the Client that he has been accepted as the Company’s Client or that a Trading Account has been opened for him.
23.2. Without prejudice to the Company’s rights under this Agreement to terminate it immediately without prior notice to the Client, the Company may terminate this Agreement with immediate effect by giving at least 7 (seven) Business Days Written Notice to the Client. The Client shall have the right to terminate this Agreement with immediate effect by giving at least 7 (seven) Business Days Written Notice to the Company.
23.3. Termination by any Party will not affect any obligation which has already been incurred by either Party or any legal rights or obligations which may already have arisen under the Agreement or any Transactions made hereunder.
23.4. Upon termination of this Agreement, all amounts payable by the Client to the Company will become immediately due and payable including (but without limitation) all outstanding costs and any other amounts payable to the Company, any charges and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement.
23.5. Once notice of termination of this Agreement is sent and before the termination date:
a) the Client will have an obligation close all his Open Positions. If he fails to do so, upon termination, the Company will close any Open Positions at current prices;
b) the Company will be entitled to cease to grant the Client access to the Platform(s) or may limit the functionalities the Client is allowed to use on the Platform(s);
c) the Company will be entitled to refuse to accept new Orders from the Client;
d) the Company will be entitled to refuse to the Client to withdraw money from the Trading Account and the Company reserves the right to keep Client’s funds as necessary to close positions which have already been opened and/or pay any pending obligations of the Client under the Agreement.
23.6. Upon Termination any or all the following may apply:
a) The Company has the right to combine any Trading Accounts of the Client, to consolidate the Balances in such Trading Accounts and to set off those Balances;
b) The Company has the right to close the Trading Account(s);
c) The Company has the right to convert any currency in the Trading Accounts;
d) The Company has the right to close out the Client’s Open Positions;
e) In absence of illegal activity or suspected illegal activity or fraud of the Client or instructions from the relevant authorities, if there is Balance in the Client’s favour, the Company will (after withholding such amounts that in the Company’s absolute discretion considers appropriate in respect of future liabilities) pay such Balance to the Client as soon as reasonably practicable and supply him with a statement showing how that Balance was arrived at and, where appropriate, instruct any Nominee or/and any Custodian to also pay any applicable amounts. Such funds shall be delivered in accordance to the Client’s Instructions to the Client. It is understood that the Company will effect payments only to an account in the name of the Client. The Company has the right to refuse, at its discretion, to effect thirty party payments. In the event that the Client fails to provide instructions or the Client cannot be reached at his last known address, the Company shall forward such funds (at its sole discretion) directly to his bank account and/or back to the same source of deposit. It is the Client’s responsibility to update his Registration Data, the company having no liability towards the Client for any lost money.
24. Event of Default
24.1. Each of the following constitutes an “Event of Default”:
a) The failure of the Client to perform any obligation due to the Company under this Agreement.
b) If an application for Bankruptcy is made in respect of the Client (if the Client is an individual), if a company, a receiver, trustee, administrative receiver or similar officer is appointed, or if the Client makes an arrangement or composition with the Client’s creditors or any procedure which is similar or analogous to any of the above is commenced in respect of the Client.
c) The failure of the Client to provide any Initial Margin and/or Hedged Margin, or other amount due under the Agreement;
d) The failure of the Client to submit any identification documentation and/or any other information as required by the Company from time to time;
e) The failure of the Client to perform any obligation due to the Company emanating from the Agreement or any other documents concluded with the Company;
f) Where any representation or warranty made by the Client in paragraph 23 of this Client Agreement is or becomes untrue.
g) The Client (if the Client is an individual) dies or is declared absent or becomes of unsound mind.
h) The Client involves the Company in any type of fraud or illegality or breach of Applicable Regulations or is at risk of involving the Company in any type of fraud or illegality or breach of Applicable Regulations.
i) In cases of material violation by the Client of the requirements established by legislation of the Republic of Vanuatu or other countries, such materiality determined in good faith by the Company.
j) If the Company suspects that the Client is engaged into money laundering activities, or terrorist financing, or card fraud, or other criminal activities.
k) The Company reasonably suspects that the Client performed a prohibited action under this Agreement.
l) The Company reasonably suspects that the Client performed Abusive Trading, including scalping
m) The Company reasonably suspects that the Client opened the Trading Account fraudulently.
24.2. If an Event of Default occurs the Company may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a) Terminate this Agreement immediately without prior notice to the Client.
b) Cancel any Open Positions.
c) Temporarily or permanently bar access to the Platform or suspend or prohibit any functions of the Platform.
d) Reject or Decline or refuse to transmit or execute any Order of the Client.
e) Restrict the Client’s trading activity.
f) In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country.
g) Cancel of profits gained
h) Immediately cancel all trades that were executed by the Client.
i) Take legal action for any losses suffered by the Company.
25. Representations and Warranties
25.1. You agree that each of the following representations and warranties are deemed repeated each time you open or close a Transaction by reference to the circumstances prevailing at such time:
a) the Registration Data provided to us during registration phase and at any time thereafter is complete, true, accurate and not misleading in all respects and the certificates provided are authentic;
b) you are of sound mind, legal age and legal competence;
c) you are duly authorized to execute and deliver the Client Agreement, to open each Transaction and to perform your obligations hereunder and thereunder and have taken all necessary action to authorize such execution, delivery and performance;
d) you understand how the Transactions hereunder operate before you place an offer to open a Transaction on the Trading Platform. By doing so, you warrant that you understand the terms and conditions of the Client Agreement, and any legal and financial implications thereof;
e) you have read and understand the Risks Disclosure and Warnings Notice found on the Company’s Website https://www.evest.com/legal-files/risk-disclosure?license=va.
f)
g) you have taken all reasonable steps to understand the specifications and characteristics of the Trading Platform and the associated hardware, software, data processing and telecommunication systems and networks required to access and operate the Trading Platform;
h) You are acting as a principal and not as agent or representative or trustee or custodian on behalf of someone else.
i) any person representing you in opening or closing a Transaction will have been, and the person entering into the Client Agreement on your behalf is, duly authorized to do so on your behalf;
j) you are not an employee of any Underlying Market, a corporation in which any Underlying Market owns a majority of the capital stock, a member of any Underlying Market and/or firm registered on any Underlying Market or any bank, trust or insurance company that trades in Financial Instruments covered under this Agreement between us;
k) you will not enter into any Transaction for the purposes of arbitrage, Scalping or to exploit any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform;
l) you have obtained all relevant governmental or other authorizations and consents required by you in connection with the Client Agreement and in connection with opening or closing Transactions and such authorizations and consents are in full force and effect and all of their conditions have been and will be complied with;
m) the execution, delivery and performance of the Agreement and your use of the Trading Platform including each Transaction you complete thereto will not violate any law, ordinance, charter, by-law or rule applicable to you, in the jurisdiction in which you are resident, or any agreement by which you are bound or by which any of your assets are affected;
n) other than in exceptional circumstances you will not send funds to your Trading Account from any bank account other than as stipulated in the Registration Data. Whether exceptional circumstances exist will be determined by us from time to time;
o) the Client funds used for trading are not in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for terrorist financing;
p) you are not a Politically Exposed Person and does not have any relationship (for example relative or business associate) with a person who holds or held in the last twelve months a prominent public position. If the above statement is untrue and, in the event, that you have not disclosed this already in the Account Opening Application Form, you will inform the Company as soon as possible and will notify the Company if at any stage during the course of this Agreement you become a Politically Exposed Person;
q) you confirm that you have regular access to the internet and consent to the Company providing you with information, including, without limitation, information about amendments to the terms and conditions, costs, fees, this Agreements, Policies and information about the nature and risks of investments by posting such information on the Website and/or email.
25.2. Any breach by you of any of the representations and warranties set forth in this Clause or anywhere else in the Client Agreement renders any Transaction voidable from the outset or capable of being closed by us at our then prevailing prices, in our absolute discretion.
26. Indemnity
26.1. The Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by you arising from any inaccuracy or mistake in any information given to you by the Company.
26.2. If the Company, its directors, officers, employees, Affiliates, or agents incur any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the use of the Platform(s), then the Company, its directors, officers, employees, Affiliates, or agents bear no responsibility whatsoever, it is your responsibility to indemnify the Company for such.
26.3. The Company shall in no circumstances be liable to you for any consequential, special, incidental or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses you may suffer in relation to the Agreement, the provision of the Services or the use of the Platform(s).
26.4. The Company’s cumulative liability to you shall not exceed the fees paid to the Company under this Agreement for the Provision of the Services and use of the Platform(s).
Affiliates
26.5. In cases where the Client is introduced to the Company through a third person (“Affiliates”), the Client acknowledges that, the Company is not responsible or accountable for the conduct and/or representations of the Affiliates and the Company is not bound by any separate agreements entered into between the Client and the Affiliates.
26.6. The Client acknowledges and confirms that his agreement or relationship with the Affiliates may result in additional costs, since the Company may be obliged to pay commission fees or charges to the Affiliates.
26.7. The Client introduced by an Affiliates may request at any time to be unlinked from a specific Affiliates. In this event the Company and/or its Affiliates reserve the right, at its/their sole and absolute discretion to proceed with such request.
26.8. The Client may request to change its Introducer and be linked to another Introducer. In this event the Company and/or its Affiliates reserve the right, at its/their sole and absolute discretion to proceed with such request.
27. Disclaimers
27.1. We, specifically, do not warrant that:
a) the Trading Platform will meet your individual requirements and it is therefore your responsibility to ensure that the facilities and functions of the Trading Platform meet your requirements;
b) your equipment, software, and communication connections will be compatible with the hardware and software we employ to provide the Trading Platform;
c) the use of the Trading Platform will be uninterrupted, secure or error-free or free of bugs and you agree that the existence of any minor errors or bugs shall not constitute a breach of this Client Agreement;
d) we will be able to prevent third party disruptions of and to the operation of the Trading Platform;
e) errors will be corrected in the Trading Platform; or
f) we will detect every bug in the Trading Platform.
27.2. You acknowledge that we do not control the transfer of data over telecommunications facilities, including without limitation the internet, nor are we responsible for communication failures, distortions or delays when trading online (via the internet or a mobile service).
You acknowledge that the trading you conduct on the Trading Platform is not conducted on a recognized Exchange, rather they are undertaken over the counter (OTC) and as such they may expose the Client to greater risks than regulated exchange transactions (e.g. counterparty risk).
27.3. We hereby further disclaim any, and shall have no, liability or loss resulting from or related to any:
a) disruption of your connections to the internet;
b) security breaches resulting in part or in whole from third-party software or networking goods or services or from actions or events outside of our reasonable control;
c) use of the Trading Platform that is not in strict compliance with the Client Agreement, or any technical documentation we provide to you or make available to you by any other means, including without limitation, on our Website;
d) any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control;
e) any person obtaining your Account Credentials prior to the Client’s reporting to the Company of the misuse of the same;
f) unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and Account Credentials when the above are transmitted between the Parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means;
g) any of the risks of the Risks Disclosures and Warnings, found on the Company’s Website;
h) any changes in the rates of tax;
i) any acts or omissions (including negligence and fraud) of the Client;
j) if you are relying on functions such as Trailing Stop, Expert Advisor and Stop Loss Orders;
k) the occurrence of Slippage; and
l) Currency risk materializing.
27.4. With respect to any Financial Data or other information that we provide to you in connection with your use of the Trading Platform:
a) this information is provided solely to enable the Client to make his/her own investment decisions and does not amount to investment advice;
b) we are not responsible or liable if any such data or information is inaccurate or incomplete in any respect;
c) we are not responsible or liable for any actions that you take or do not take based on such data or information;
d) you will use such data or information solely in accordance and for the purposes set forth in the Client Agreement;
e) such data or information is proprietary to us, and you will not retransmit, redistribute, publish, disclose or display in whole or in part such data or information to third parties except as required by applicable regulations; and
f) you will use such data or information solely in compliance with any applicable laws and regulations.
28. Limitation of Liability
28.1. We shall not be liable to you for any loss, save in cases of gross negligence, fraud or willful default on our behalf.
28.2. You will be liable to us for:
a) any loss (whether direct or indirect) of revenue or profits;
b) any loss (whether direct or indirect) of anticipated savings;
c) any loss (whether direct or indirect) of goodwill or injury to reputation;
d) any loss (whether direct or indirect) of business opportunity or arising from business interruption;
e) any loss (whether direct or indirect) of or corruption to data;
f) indirect, consequential, incidental, exemplary, punitive or special loss or damage in each case arising out of or in connection with the Client Agreement including without limitation as a result of breach of contract, negligence or any other tort, under statute or otherwise, and regardless of whether either party knew or had reason to know of the possibility of the loss, injury or damage in question.
28.3. Nothing in this paragraph will exclude, limit or restrict either Party’s liability for fraud or fraudulent misrepresentation committed by that Party (or anyone on its behalf).
28.4. Our liability, to the extent applicable, for infringement of third-party intellectual property rights shall be limited to breaches of rights subsisting in Vanuatu.
28.5. The Client Agreement set out the full extent of our obligations and liabilities in respect of the supply of the Trading Platform.
28.6. We shall not be held liable and are released from all claims and losses arising out of:
a) any act or omission by any person obtaining access to your Trading Account or Account Credentials, whether or not you have authorized such access;
b) delay, failure or error by you in implementing any reasonable instruction we have provided to you;
c) inaccurate or incomplete instructions received by you;
d) any reliance or use by you or any other third party with access to your Trading Account of any Financial Data, whether to complete a Transaction on the Trading Platform or for any other purpose whatsoever.
28.7. The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client including, without limitation, information relating to any Transactions. Subject to the right of the Company to void or close any Transaction in the specific circumstances set out this Agreement, any Transaction following such inaccuracy or mistake shall nonetheless remain valid and binding in all respects on both the Company and the Client.
29. Authority to Trade
29.1. You hereby authorize us to act on any instruction given or appearing to be given by you on the Trading Platform via the use of your Account Credentials.
29.2. We shall be entitled, and you hereby authorize us, to rely upon any oral, electronic or written communication or instruction received from you. You agree that:
a) once logged on to the Trading Platform following entry of the Account Credentials, we are authorized to act upon instructions without enquiring as to the validity of the instructions and to consider the instructions of like force and effect as written orders made by you;
b) following log-in to the Trading platform, nothing in this paragraph will oblige us to verify the validity of each instruction or the signatures prior to every trade; and
c) you shall bear the risk of all instructions, whether authorized, unauthorized, improper or fraudulent, even if it transpires such instructions were provided without your authority. You shall indemnify us against and save us harmless from all losses, costs, fees, damages, expenses, claims, suits, demands and liabilities whatsoever that we may suffer or incur or that may be brought against us, in any way relating to or arising out of our acting upon, delay in acting upon or refusal to act upon any such instructions or information.
29.3. Without derogating from the above, we will not be under any duty to act in accordance with any instruction if we reasonably believe that:
a) the person who provided such an instruction was acting in excess of his authority;
b) acting upon such an instruction would infringe any law, rule, regulation or the Client Agreement; or
c) in the event that we have accepted an offer to perform a Transaction that we later suspect falls within points (a) and (b) hereunder this paragraph 27.3, we may, in our absolute discretion, either close such a Transaction at the then prevailing price quoted on the Trading Platform or treat the Transaction as having been void from the outset. Nothing in this paragraph shall be construed as an obligation on our part to inquire about the authority of any person who purports to represent you.
29.4. Any offer to open or close a Transaction (including an Order) must be made by you through the Trading Platform only, or via phone if the Trading Platform is not available. Written offers to open or close a Transaction, including offers sent by fax, email or text message will not be accepted.
29.5. If we receive an offer to open or close a Transaction other than in accordance with paragraph 2.4 of this Client Agreement, we may act on such an offer, in our absolute discretion, however we will not be responsible for any loss, damage or cost that you suffer or incur arising out of any error, delay or omission in our acting or refusing to act on such an offer.
30. Relationship of the Parties
30.1. You will open each Transaction with us as principal and not as agent for any person. This means that unless we have otherwise agreed in writing, we will treat you as our Client for all purposes and you will be directly and personally responsible for performing your obligations under each Transaction entered into by you. If you act in connection with or on behalf of someone else, whether or not you identify that person to us or not, we will not accept that person as a Client of ours and we will accept no obligation to them unless otherwise specifically agreed in writing.
31. Conflict of Interest
31.1. Where a conflict of interest arises, the Company shall ensure fair treatment to all its customers by disclosure, internal rules of confidentially, declining to act or otherwise. The Company shall not unfairly place its interests above those of its customers.
31.2. Where a properly informed customer would reasonably expect that the Company would place his interests above its own, the Company shall live up to that expectation.
31.3. The Company shall not enter into any transaction which may conflict with a duty of care owed to a customer, unless such conflict is disclosed to the customer and the customer consents to the transaction. In particular, where market participants are handling customer orders, these orders shall be handled appropriately and with due regard to the best interests of the customer.
32. Communication, Written Notices and Language
32.1. Unless the contrary is specifically provided in this Agreement, any notice, request or other communication (other than Orders which shall be given only in accordance to paragraph 31.2 hereunder) to be given to the Company by the Client under the Agreement shall be sent to the Company’s address below (or to any other address which the Company may from time to time specify to the Client for this purpose) by email, post if posted in Republic of Vanuatu, or airmail if posted outside Vanuatu, or commercial courier service and shall be deemed delivered only when actually received by the Company at the contact details appearing in the first page.
32.2. It is agreed and understood that Orders shall be placed on the Trading Platform and shall not be communicated to the Company in any other means. Only when the Platform is not operational, Orders may be placed via phone.
32.3. In order to communicate with the Client, the Company may use any of the following methods: email, Platform’s internal mail, facsimile transmission, telephone, post, commercial courier service, air mail or the Company’s Website or Personal Area.
32.4. The Company shall contact the Client at the contact details on his Registration Data. Hence, the Client has an obligation to notify the Company immediately of any change in the Client’s contact details.
32.5. The following methods of communication are considered as Written Notice from the Company to the Client: email, Platform’s internal mail, facsimile transmission, post, commercial courier service, air mail or the Company’s Website.
32.6. The following methods of communication are considered as Written Notice from the Client to the Company: email, facsimile transmission, post, commercial courier service or air mail or commercial courier.
32.7. Any communications sent to the Client (documents, notices, confirmations, statements, reports etc.) are deemed received:
a) If sent by email, within one hour after emailing it and provided the email has left from the Company’s outlook.
b) If sent by the Platform’s internal mail, immediately after sending it.
c) If sent by facsimile transmission, upon receipt by the sender of a transmission report from its facsimile machine confirming receipt of the message by recipient’s facsimile machine.
d) If sent by telephone, once the telephone conversation has been finished.
e) If sent by post, seven calendar days after posting it.
f) If sent via commercial courier service, at the date of signing of the document on receipt of such notice.
g) If sent by air mail, eight Business Days after the date of their dispatch.
h) If posted on the Company Website, within one hour after it has been posted and relevant notification email has been sent to the Client.
i) if posted on the Personal Area, immediately once posted.
32.8. The Language in which the Client may communicate with the Company is English, which is the Company’s official language. From time to time, the Company may employee staff who speak the Client’s native language, in which case the Client may find it more convenient to communicate with the Company in that language. However, it is clarified that all documents and information provided by the Company shall be in English. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever. The Company does not have any responsibility or liability regarding the correctness of the translated information, therefore only the English version of the Company’s policies and procedure and the English version of the web-site is considered official.
33. Entire Agreement
33.1. The Client Agreement set out the entire agreement and understanding between the parties in respect of the matters dealt with in them. They supersede any previous agreement or understanding between you and us in respect of their subject matter.
34. Severability
34.1. Should any part of this Agreement be held by any Court of competent jurisdiction to be unenforceable or illegal or contravene any rule, regulation or by law of any Market or regulator, that part will be deemed to have been excluded from this Agreement from the beginning, and this Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
35. Waiver
35.1. Any failure to exercise or any delay in exercising a right or remedy provided by the Client Agreement will not constitute a waiver of the right or remedy or a waiver of any other rights or remedies. A waiver of a breach of any of the terms of the Client Agreement will not constitute a waiver of any other breach and will not affect the other terms of the Client Agreement.
35.2. The rights and remedies provided by the Client Agreement are cumulative and (except as otherwise provided in the Client Agreement) are not exclusive of any rights or remedies provided at law.
35.3. Where the Client comprises two or more persons, the liabilities and obligations under the Agreement shall be joint and several. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client.
36. Assignment
36.1. You may not assign or transfer any of your rights or delegate any of your obligations under the Client Agreement, whether by operation of law or otherwise, either on a permanent or temporary basis to a third party, without our prior written consent.
36.2. Subject to any necessary regulatory approvals, we may assign, transfer and/or novate these Terms and Conditions and/or any of our rights and/or obligations to another appropriately regulated firm. We will tell you 15 days in advance if we do this. We will use reasonable endeavours to ensure that your rights under the assignment and/or novation will be similar to your rights under the Terms and Conditions and Schedules with us. We will treat you continuing to use the Services as you agreeing to the assignment and novation, but you can cancel your account with us at any time.
37.Complaints and Disputes
37.1. If the Client wishes to report a complaint, he should follow the Company’s procedures, which can be found at https://www.evest.com/legal-files/complaint-policy?license=va.
37.2. If a situation arises which is not expressly covered by this Agreement, the Parties agree to try to resolve the matter on the basis of good faith and fairness and by taking such action as is consistent with market practice.
37.3. If the Client is not satisfied with the Company’s final decision, it is noted that the Client may make a complaint to the VFSC.
37.4. The Client’s right to take legal action remains unaffected by the existence or use of any complaint’s procedures referred to above.
38. Multiple Account Holders
38.1. Where the Client comprises two or more persons, the liabilities and obligations under the Agreement shall be joint and several. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client.
38.2. In the event of the death or mental incapacity of one of the persons who form the Client, all funds held by the Company or its Nominee, will be for the benefit and at the order of the survivor(s) and all obligations and liabilities owed to the Company will be owed by such survivor(s).
39. Governing Law and Jurisdiction
39.1. The interpretation, construction, effect and enforceability of the Client Agreement shall be governed by the Laws of the Republic of Vanuatu, and you and we agree to submit to the exclusive jurisdiction of the Vanuatu courts for the determination of disputes. You agree all Transactions carried out on the Trading Platform are governed by Vanuatu Laws regardless of the location of the Registered User.
39.2. All transactions on behalf of the Client shall be subject to Applicable Regulations and any other public authorities which govern the operation of Financial Dealers, as they are amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers necessary to ensure compliance with the Applicable Regulations, the relevant market rules. Any such measures as may be taken shall be binding on the Client.
Appendix – FX and CFD TRADING TERMS
1. Scope
1.1. This Appendix is applicable only to those Clients trading in the Financial Instruments of Contracts for Differences for all types of Underlying Assets available with the Company from time to time such as Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures.
2. The key risks of CFD trading
2.1. CFDs are complex derivative products and come with a high risk of losing money quickly due to leverage. Trading with leverage magnifies your gains and losses, so small price changes in the Underlying can result in large losses or gains. It is therefore possible that you may lose more than your deposit in a trade.
2.2. The Underlying of CFDs are often made up of equities, foreign exchange, commodities, crypto assets and similar assets. The markets of these assets can be volatile, which means the prices of the assets and CFD products can change rapidly, and are therefore unpredictable.
2.3. You should only trade CFDs if:
a) you have sufficient and relevant knowledge about or experience in, trading in volatile markets;
b) you have time to manage your transactions on an active basis;
c) you fully understand how CFDs work (including all associated risks and costs), are aware that the use of margin or leverage creates greater risks,
d) you understand that there are situations where we will be able to, and are permitted to, close out your transactions without giving you notice;
e) you are trading with money you can afford to lose;
f) you have a high-risk tolerance; and
g) you want to gain short term exposure to a product/market.
2.4. You should ensure you fully understand the risks involved before using our Services and, if required, take appropriate investment, financial, legal, tax and other necessary professional, independent advice. More information on the risks associated with trading CFDs is set out in our Risk Warning Disclosures. You should read this document and fully understand the risks before entering into this Agreement.
2.5. Please refer to the General Terms and Conditions, the General Risk Disclosure, and our website for more information on the key risks of using our services.
3. Opening and Closing Orders/Transactions
3.1. In order to open a Transaction in an FX and CFD on the Trading Platform, you must either open a Buy or a Sell, at the price quoted by the Trading Platform at the time of such Transaction. In order to close a Transaction, you must either offer to sell (in the case of a Buy), or purchase (in the case of a Sell), the Underlying Asset covered by such open Transaction, at the price quoted by the Trading Platform at the time of such closing offer. Transactions or open positions cannot be transferred to other FX and CFD providers or their platforms.
3.2. The Trading Platform will provide a Buy quote and a Sell quote for each Underlying Asset traded on the Trading Platform. You acknowledge that upon opening a Buy or closing a Sell, you may only do so at the price quoted by the Trading Platform to purchase such Underlying Asset. You further acknowledge that upon opening a Sell or closing a Buy, you may only do so at the price quoted by the Trading Platform for such Underlying Asset.
3.3. On the Trading Platform, you shall be entitled to make an offer to open a Transaction at the best available rate on the Trading Platform (“Market Order”) at the time of opening such a Transaction, unless you specify a particular price in which to make an offer to open a Transaction (“Limit Order”).
3.4. With respect to a Market Order, the price at which a Transaction is completed may not always be at the exact rate displayed when the order is submitted. You agree that your offer to open a Market Order may be accepted at a lower price or higher price than the price indicated by you in your Market Order, within a certain range as specified on the Trading Platform from time to time. If you choose to open a Market Order, your offer will be accepted at the best possible rate offered on the Trading Platform.
3.5. With respect to a Limit Order, the price at which a Transaction is completed may not always be at the exact rate displayed when the order is submitted. You agree that your offer to open a Limit Order may be accepted at a lower price if a buy, or higher price if a sell, than the price indicated by you in your Limit Order as specified on the Trading Platform from time to time. If you offer to open a Limit Order, your offer may be accepted at the price indicated by you in your offer. At any time prior to acceptance of a Limit Order, you may cancel the Limit Order without any further liability. If you choose to open a Limit Order, your offer will be accepted at the best possible rate offered on the Trading Platform.
3.6. Orders can be placed and (if allowed) changed within the Trading Hours for each type of FX and CFD appearing on the Company’s Website, as amended from the Company from time to time. The Client agrees that the Orders to open a position if accepted by the Company outside the Trading Hours may not be capable of execution should the market not trade at the price stipulated once Trading Hours commence.
3.7. Pending Orders, not executed, shall remain effective through the next trading session (as applicable). All open spot positions will be rolled over to the next Business Day at the close of business in the relevant Underlying Market, subject to the Company’s rights to close the open spot position. Any open forward positions will be rolled over at the expiry of the relevant period into the next relevant period subject to the Company’s rights to close the open forward position.
3.8. Market Orders not executed because there is not enough volume to fill them, will not remain effective and will be cancelled.
3.9. Orders shall be valid in accordance with the type and time of the given Order, as specified by the Client. If the time of validity of the Order is not specified, it shall be valid for an indefinite period. However, the Company may delete one or all Pending Orders if the Trading Account Equity reaches zero.
3.10. Orders may be removed by the Client before they are executed.
3.11. Stop loss and Take Profit orders may be changed as long as they are higher in distance than a specific level (depending on the trading symbol).
3.12. The Client may change the expiration date of Pending Orders or delete or modify a Pending Order before it is executed. In order to change the expiry, the Client will need to cancel the Order and place e a new one.
3.13. FX and CFD Orders on currencies are executed as follows:
a) Take Profit (T/P) orders are executed at stated prices;
b) Stop Loss (S/L) orders are executed at first market prices;
c) Stop Loss (S/L) orders set for lock positions are executed at first market prices;
d) Limit orders are executed at stated prices;
e) Buy Stop and Sell Stop orders for position opening are executed at first market prices.
3.14. It is understood that Quotes on the Client Terminal are indicative Quotes and Slippage may occur. To this end the Client acknowledges and agrees that:
a) due to market volatility and factors beyond its control, the Company cannot guarantee that an Order (including Stop Loss and Take Profit Orders) will be executed at the level specified in the Client Order. For example, an Order may be closed at a worse price than as originally specified by the Client in such an Order (i.e. Negative Slippage). In such an event, the Company will close the Transaction at the next best price.
b) where the price for an Underlying Asset moves to the Client’s advantage (i.e. Positive Slippage), the Company can pass such price improvement on to the Client.
3.15. In the event that the Company is unable to proceed with an Order, with regard to price or size or other reason, the Company will send a re-quote to the Client (with the price it is willing to deal until the price the Client asks is available). The Order will be rejected and the Client will need to place another Order.
3.16. The Company shall not be obliged to arrange for the execution of the Client’s Orders in respect of any CFD out of normal Trading Hours which appear on the Company’s Website.
4. Stop and Limits
4.1. We may, in our sole discretion, allow you to specify a closing price for a Transaction through a Stop Loss and Take Profit Order, subject always to the terms of the Client Agreement and any other terms and conditions we may implement from time to time.
4.2. Upon your offer and our acceptance of your Order, you hereby authorize us to close the Transaction at the “Stop Loss” price or “Take Profit” price, as applicable, and as agreed in the Order, without further instruction from or notification to you. We may, in our sole discretion, close the Transaction when the price quoted by us on the Trading Platform equals or exceeds the price accepted by us for such an Order.
4.3. We may, in our sole discretion, allow you to request the opening or closing of a Transaction, including a “Stop Loss” and “Take Profit” Order, within a specific time period determined by you. If we have accepted such a request, we may in our sole discretion, close the Transaction within such specific time period. You acknowledge and agree that we shall not be obliged to close such a Transaction outside such specific time period or which does not otherwise comply with any other limitations agreed upon with respect to such Transaction.
4.4. We may, in our sole discretion, accept an offer to place a Trailing Stop in relation to a Stop Loss Order. You acknowledge that the original price level set forth in a Stop Loss Order may be amended as the market on the Trading Platform moves in your favor. Whilst your Trailing Stop is still in effect, you agree that each change in the market by at least a Pips on the Trading Platform in your favor shall constitute a new offer by you to raise the level of your Trailing Stop by one hundredth of one percentage point. Changes in a Pip will be rounded to the nearest absolute value in your base currency based on your country of origin, as shall be specified on the Trading Platform.
4.5. You acknowledge and agree that due to market volatility and factors beyond our control, we cannot guarantee that an Order will be executed at the level specified in your Order, for example, an Order may be closed at a worse price than as originally specified by you in such an Order. In such an event, we will close the Transaction at the next best price. For example, with respect to a Stop Loss Order, in the case of a Buy, the price of an Underlying Asset underlying such Order may suddenly decrease below the Stop Loss price, without ever reaching such price. In the case of a Sell, the price of an Underlying Asset underlying such Order may suddenly increase above the Stop Loss price, without ever reaching such price.
4.6. With respect to a Take Profit where the price for an Underlying Asset moves to your advantage (for example, if the price goes down as you buy or the price goes up as you sell), you agree that we can (but do not have to) pass such price improvement on to you. For example, in the case of a Buy, the price of an Underlying Asset underlying such Order may suddenly increase above the Take Profit price, without ever reaching such price. In the case of a Sell, the price of an Underlying Asset underlying such Order may suddenly decrease below the Take Profit price, without ever reaching such price.
4.7. The Client agrees that placing a Stop Loss Order will not necessarily limit losses to the intended amounts, because market conditions may make it impossible to execute such an Order at the stipulated price and the Company bears no responsibility whatsoever.
4.8. The Client agrees that trading operations using additional functions of the Client Trading Terminal such as Trailing Stop and/or Expert Advisor are executed completely under the Client’s responsibility, as they depend directly on his trading terminal and the Company bears no responsibility whatsoever.
5. Closing your orders automatically
5.1. We may close your orders where you have placed a stop loss on your CFD trade, and the stop price has been reached.
5.2. We may close your orders and trades where you do not have the required margin in your account or you do not meet the margin requirements, as described in Clause 16 above. We may do this without further notice to you, and you may make a profit or a loss as a result.
5.3. We may also close your orders in special circumstances, as described in Clause 2 and Clause 13 “Corporate events” above.
5.4. Please also refer to Clause 13 of the General Terms and Conditions for information on other situations in which we may close your orders.
6. Premium (or Swaps)
6.1. Any open Transaction held by you at the end of the trading day of the Underlying Market or over the weekend when the relevant Underlying Market is closed, shall automatically be rolled over to the next business day to avoid an automatic close. You acknowledge that when rolling such Transactions to the next Business Day, a Premium/Swap will be either added or subtracted from your Account with respect to such Transaction (“Rolling”). The Premium amount is a constant percentage of the position value and is based on a number of factors including among others, whether the Transaction is a Buy or a Sell, interest rates, Underlying Asset differentials, daily price fluctuations and other economic and market related factors. The Premium/Swap for each Underlying Asset is displayed in the “details” link for each specific Underlying Asset on the Trading Platform.
6.2. In deciding whether to open a Transaction for a specific Underlying Asset, you acknowledge that you are aware of the Premium.
6.3. You hereby authorize us to add or subtract the Premium/Swap to or from your Trading Account for any open Transactions that have accrued a Premium/Swap, in accordance with the applicable rate thereto, each day at the time of collection specified on the Trading Platform for each individual Underlying Asset, as applicable.
7. Expiry Transactions
7.1. We may, in our sole and absolute discretion, set an Expiry Date and time for a specific Instrument.
7.2. In the event we set an Expiry Date for a specific Underlying Asset, it will be displayed on the Trading Platform in the details link for each Underlying Asset. It is your responsibility to make yourself aware of the Expiry Date and time.
7.3. If you do not close an open Transaction with respect to an Underlying Asset which has an Expiry Date, prior to such Expiry Date, the Transaction shall automatically close upon the Expiry Date. The Transaction shall close at a price which will be the last price quoted on the Trading Platform immediately prior to the applicable Expiry Date and time.
8. Spreads
8.1. All FX and CFDs available with the Company have variable spreads which appear on the Trading Platform and/or the Website.
8.2. Spreads specified in the contract specifications on the Company’s web site are not fixed and depends on market conditions.
9. Leverage
9.1. The Company offers to its Clients with a maximum leverage up to 400, depending on the CFD underlying instrument, or any other level as those may be amended from time to time and are made available to you on the Company’s trading platform and website. Clients may be provided with higher leverage upon their request and upon the Company’s approval of such request. For more information on the leverage offered in all instruments offered by the Company please refer to our website.
9.2. Using leverage increases the loss potentials. For example, for a trading position with leverage 1:30, a favorable/adverse market movement of 0.5% will result in a 15% increase or loss respectively.
9.3. The Company has the right to change the Trading Account leverage (i.e. lower leverage to be provided) without prior notice, according to the conditions described on the Website of the Company https://www.evest.com/evest-trading-fees.
9.4. An automatic change in Leverage pursuant to the rules established by the Company, as well as a change in Leverage made by the Client through his/her Clients Area will result in a recalculation of the Margin requirements for all of the Client’s positions.
9.5. The Company has the right:
a) To dynamically lower the leverage level on the Client trading accounts if the Company has ascertained that doing so will mitigate risks arising from extreme market movements due to significant events or announcements. This change will affect open transactions as well as the transactions to be opened after the announcement of lowering of the leverage level, which will be notified by the Company in a durable medium such as email.
b) To limit the level of the offered leverage and/or to increase the size of Margin requirements before macroeconomic events and/or news capable of significantly affecting the prices of financial instruments.
c) To limit the level of the offered leverage and/or to increase the size of Margin requirements in order to comply with any necessary regulatory requirements that fall within the Company’s jurisdiction or within the jurisdiction of the Client.
d) The leverage cannot be changed to a higher level than the maximum levels prescribed per product type by current regulations.