Updated May 2022
The purpose of this document is to inform the Client of the potential risks involved in trading on financial markets. Each Client should ensure that their decision is made on an informed basis. This document forms an integral part of the Agreement between Exfor Limited. Company Nr. LL17698 (the Company) and the Client. This document lists the most common and frequent risks associated with trading on financial markets, however it cannot disclose all risks involved in trading due to the wide range of feasible situations.
Every Client should deal with the Company at their own risks and shall not be protected by any statutory compensation arrangements in any event whatsoever.
Every person intending to trade on the products offered by the Company is recommended to seek independent advice on the investment viability and risk associated with such products and services proposed by the Company.
No information represented in the document of the Company or its website shall be considered as advice.
Online trading on financial markets is associated with high risks. Every Client must understand that the investment value can both increase and decrease. Clients will be held liable for losses and damages, which could result in the loss of all of the Clients’ invested capital, once they make the decision to trade.
In making a decision to trade in the Company's products, Clients must rely on their own examination of the products, including the merits and risks involved, as well as own experience, knowledge and financial capabilities. The Client should not risk more than what he is prepared to lose.
The Company does not provide advice of any kind, including tax, investment or legal advice other than general consultations to Clients. Unless the Client knows and fully understands the risks involved in Financial Instruments, they should not engage in any trading activity.
If a Client is unclear or does not understand the risks involved in online trading on financial markets, they should consult an independent financial advisor.
Financial instruments that are traded on leverage carry a high level of risk. When executing trading operations under margin trading conditions, even small market movements may have a great impact on a Client’s Trading Account due to the effect of leverage. The Client must take into consideration that if the trend on the market is against them, the Client may sustain a total loss of their Initial Margin and any additional funds deposited to maintain Open Positions. The Client shall be held fully responsible for all risks, financial resources used and the chosen trading strategy.
Many instruments are traded within wide ranges of intraday price movements. Consequently, Clients must carefully consider the fact that there is not only a high probability of profit, but also of the loss.
Clients shall consider the risk of financial loss caused by the failure of information, communication, electronic and other systems, that is outside the scope of influence of the Company or the Client him/herself.
When executing trading operations, the Client shall assume the risk of financial loss, which can be caused by:
the failure of the Client's hardware, software and internet connection;
the improper operation of the Client's equipment;
the wrong settings in the Client Terminal;
delayed Client Terminal updates; and
the Client’s ignorance of the applicable rules described in the user guide for the terminal.
The Client acknowledges that at the moment of peak load there may be difficulties in getting telephone communication with a company representative, especially on the fast market (for example, when key economic indicators are released). The company is not responsible for disruption, failure or malfunction of telephone facilities.
The Client acknowledges that under abnormal market conditions, the execution time for Client Instructions may increase.
The Client accepts the fact that only one Request or Instruction is allowed in the queue. Once the Client has sent a Request or Instruction, any other Request or Instruction sent by the Client may be ignored.
The Client acknowledges that the only reliable source of quoting information is the server for Clients with live accounts. The quote base in the Client terminal shall not be considered a reliable source of quoting information given that in the case of a bad connection between the Client Terminal and the server, some of the quotes simply may not reach the Client Terminal.
The Client acknowledges that when the Client closes the window to place/modify/delete an Order, as well as the window to open/close a position, the Instruction or Request which has been sent to the server will not be canceled.
The Client assumes the risk of executing unplanned Transactions in the event that the Client sends another Instruction before receiving the result from the Instruction sent previously.
The Client acknowledges that if an Order has already been executed but the Client sends an Instruction to modify the level of a pending Order and the levels of Stop Loss and/or Take Profit orders at the same time, the only Instruction that will be executed is the Instruction to modify the Stop Loss and/or Take Profit levels on the position opened on that Order.
The Company accepts no responsibility for any losses that arise as a result of delayed or unreceived communication sent to a client from us by any form.
The Client acknowledges that information transmitted via electronic means is not protected from unauthorized access.
The Client assumes full responsibility for the safekeeping of information received from the Company and shall bear the risk of any financial loss caused by unauthorized access to the Client’s trading account by any person. The Client is responsible for keeping all login details safe. The Company strongly recommends that user details are not written down or saved.
All losses caused by Force Majeure events shall be exempt from the responsibility of the Company.
The Client shall bear all financial and other risks when completing operations (or actions connected with these operations) on financial markets that are statutorily prohibited or restricted by the legislation of the jurisdiction in which the Client is resident. The Client must be aware of such legislation and check whether there are any restrictions before initiating trading.
The Client must familiarize themselves with commission and other charges of the Company before trading. If there is any doubt, the Client should first contact Client support.