Foreign Exchange and any other Over-the-Counter (“OTC”) derivative product (Traded Contracts) trading is highly speculative and is only suitable for Customers who understand and are willing to assume the economic, legal and other risks involved, and are financially able to assume losses up to or in excess of Margin or Deposits. The customer hereby certifies that the Customer understands these risks and that the Customer is willing and able financially and otherwise to assume the risks of Traded Contracts Trading and that loss of the Customer’s entire Trading Account Balance will not result in a negative change to the Customer’s life-style. Opening an Trading Account in order to speculate or assume risk of any sort on Traded Contracts and other products through the Over‐the‐Counter (“OTC”) market provided by “Continue Markets Ltd” on a ”Spot” basis means assumptions of the following risks:
High Leverage and low Margin can result in significant losses due to small price fluctuations in the traded products. High Leverage allows the Customer to assume more risk, magnifying both losses and profits; which can result in loss up to and in excess of Deposits and Margin. The Customer must consider that if the trend on the market is against him/her the Customer may sustain a total loss of the initial margin funds and any additional funds deposited to maintain open positions. The Customer is responsible for all his/her risks, financial resources he/she uses and for the chosen trading strategy.
2. Quotes & Margin
Quotes and Margins are set by Continue Markets Ltd and may differ from other firms. Continue Markets Ltd will exercise discretion in setting and collecting Margin. Continue Markets Ltd is authorised to convert funds in the Customer’s Trading Account for Margin into and from such foreign currency at a rate of exchange determined by Continue Markets Ltd in its sole discretion on the basis of then‐prevailing money market rates. The Customer must maintain the minimum Margin Level requirement on Customer’s Open Positions at all times. The Customer assumes the responsibility to monitor the Customer’s Required Margin. Continue Markets Ltd has the right to liquidate any or all Open Positions whenever the minimum Margin requirement is not maintained. To avoid a Margin Call it is highly recommended to maintain a Margin Level of 1000% or greater.
3. Risk Reduction
Stop Loss Orders or Stop Limit Orders, which are intended to limit losses may reduce the losses incurred by price fluctuations, however such orders may not be able to execute under certain abnormal market conditions.
4. Product Risks
The profit and loss in any given Transaction may be affected by a currency rate that is used to convert to the Accounts base currency. Accounts shall be opened in the following currencies: USD as stated by the Customer and accepted by Continue Markets Ltd.
The Customer is responsible for any technical issues sustained on the Customer’s side. These issues include but are not limited to:
a. Failure of Customer’s hardware, software or internet connection;
b. Improper operation of Customer equipment
c. Improper settings on the Customer’s Terminal
d. Delay of Customer Terminal updates
e. MetaTrader Failure on Customer’s Computer
The Customer acknowledged that at the moment of peak load there may be some difficulties in getting telephone communication with the duty operator, especially on the fast market (for example, when key economic indicators are released).
The Customer acknowledged that once a Transmission is made from the Client Terminal and enters the execution queue and begins being processed it cannot be cancelled. Any other instruction pertaining to the Transmission will be ignored until the Transmission is completed. The customer should always verify thoroughly that the details of Volume, Product and Price Level prior to submitting any Transaction. All Transactions are performed on a First-In-First-Out basis.
7. Force Majeure
In case of Force Majeure the Customer shall accept the risk of financial losses.