1) Risk Warning
(a) Foreign Exchange and Contracts for Difference with Land-FX UK Ltd. are all margin traded products. Therefore, they inherently carry a high level of risk compared to other investments and as such you could rapidly lose more than your initial deposit. They are all legally enforceable under the Financial Services and Markets Act 2000.
(b) Margined trades are trades on the price movement of a product. They settle based on the difference between the opening price and the closing price of the trade. They can settle in a currency other than your base currency and therefore your profit or loss could be liable to foreign exchange fluctuations.
(c) You should not trade any margined product unless you fully understand all the risks involved with doing so and that you have sufficient resources available to you that in the event, however unlikely you may deem it to be, that there is an adverse movement in the price of that product that you can meet the financial obligations required by you with respect to margin payments and losses.
(d) Margin trading is leveraged trading that allows ‘gearing’ which means that you can place a large trade by only putting up a small amount of money as margin. If the price moves in your favour you can greatly increase your profits. However even a small movement in price against you can lead to substantial losses and you may be required to deposit additional margin with us immediately to keep these trades open. You are liable for this and for any losses that may occur if your positions are closed. The potential losses, or profits, for margin traded products are, or could be, unlimited and this should always be considered by you when making trading decisions.
(e) Not all trades can be opened or closed 24 hours a day. Many are subject to strict opening and closing times which can fluctuate. These are posted on our Market Information Sheets (MIS) which are available online and which we endeavour to keep up to date, without any obligation or liability on us to do so, or for its accuracy. For example, national holidays and Daylight savings changes will affect the times when you can trade. Also a market may be suspended for a variety of reasons and during this time you will not usually be able to trade.
(f) You are placing trades on our prices and not those on an exchange. Depending on the market, our prices will usually be based on an exchange price but can fluctuate away from the underlying prices due to a variety of reasons. All open trades can only be closed and settled with us.
(g) Land-FX UK Ltd. will hold retail customer funds in a segregated bank account. We reserve the right to utilise some of those funds up to the level that the client is losing to fund open positions. However even in a segregated account you may not be afforded complete protection. All individual client funds are subject to the Client Money Rules of the FCA (formerly the FSA), unless stated otherwise, and are guaranteed by them under the Financial Services Compensation Scheme up to a maximum of £50,000. (See Deposits / Withdrawals / Balances).
(h) If you are in any doubt whatsoever about any aspect of the risks involved in FX, CFDs then we recommend that you seek independent professional help or advice before continuing.
(i) If you are considering trading in shares in a company that you work for then you should seek legal advice beforehand to ascertain that you are not in breach of any regulations.
(j) Margin trading is not necessarily designed to replace existing or traditional methods of investing and is therefore not suited to everyone.
(k) You acknowledge that you and no member of your family are classed as a PEP (Politically Exposed Person).
(a) Land-FX UK Ltd. (“us”, “we”, “our”, “ours”, “ourselves”) is the trading name of Land-FX UK Ltd. Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA). The FCA’s address is 25 The North Colonnade, Canary Wharf, London E14 5HS and www.fca.org.uk. Our registered address is Land-FX UK Ltd. Financial Services Ltd, 30 Charles II Street, London. SW1Y 4AE.
(b) These terms of business cover Foreign Exchange (FX)and Contracts for Difference (CFD). You agree to be bound by those areas of this agreement that are pertinent to the types of accounts held by you, and the types of trades executed with ourselves.
(c) These terms of business set out the agreement between us and the client or customer (“you”, “yours”) and should be read carefully together with any amendments and addendums and apply to clients who are not domiciled in China. IF you have opened an account with Land-FX UK Ltd. then you have automatically accepted these Terms of Business and any forthcoming updates. In addition, if there is any doubt, you will also have been deemed to have accepted these Terms of Business by making a deposit, logging into your account or placing a trade.
(d) These terms of business do not in any way affect your statutory rights and do not restrict the liability owed by us to you under the Financial Services and Markets Act 2000 or any other regulations imposed on us by the FCA.
(e) If any part of this agreement is deemed to be invalid or unenforceable then the rest of this agreement will still be enforceable.
(f) These Terms of Business will be deemed to be the most recent and applicable and will come into effect when we open an account or accounts for you, or when we notify you of these new terms of business taking effect from a previous version.
(g) They will apply to all new and existing trades taken out, and where possible we will give you at least 10 working days’ notice of any major changes taking effect. This may be in writing, email, notification on the website or through any other means deemed appropriate by Land-FX UK Ltd.
(h) This may not include margin requirements or spreads which can change rapidly due to market developments. Also certain markets may become suspended or we may cease trading some markets for which we will not be held accountable or liable.
(i) The words ‘trading’ and ‘trade’, are all used interchangeably in these terms of business.
(j) Upon your acceptance of these terms of business and our acceptance of you as a client you warrant to Land-FX UK Ltd. that every trade you transact with us you do so directly with us in accordance with these terms of business.
(k) As a client of Land-FX UK Ltd. you also undertake only to trade if:
(1) You are not contravening any legislation in the country from where you are at the time.
(2) You are over the age of 18 years old.
(3) You are not bankrupt or going through bankruptcy proceedings or subject to any legal regulations that may prevent you from adhering to these terms of business.
(4) Your personal details held with us are up to date
(5) Where you are employed by a regulated firm you have sought permission from your compliance officer and you authorise us to provide your compliance department with copies of your personal account dealings.
If you do trade while contravening one of the above, then you will still be held accountable and liable for all trades and their corresponding profits or losses.
(l) No side agreement made with any member of staff, either oral or written (including email) will take precedence over the Terms of Business unless signed by an authorised member of staff, which for the avoidance of doubt means a member of the Board, the Managing Director, Compliance Manager or Chief Operating Officer.
While Foreign Exchange is traded globally CFDs are not. Certain countries do not allow their use and it is the responsibility of the individual to make sure that they comply with any local laws that are applicable to them, both in terms of actually holding an account and the relevant applicable tax laws. Specifically, we do not allow residents of the USA or its citizens to hold an account with us.
You undertake not to access any websites or trading platforms associated with Land-FX UK Ltd. from the USA or any other country where it may be against the law of that country to trade with a UK based company.
Any prices or quotes that we may show in advertisements, promotions, on television or on our website are purely for indication only. Only prices on our Internet Trading Platform are available to trade on, subject to the other terms of this document.
You accept that wherever possible we will communicate with you via electronic means such as email. In addition to this, if you are legally required to accept anything where normally a signature would be required then this can be done electronically by ‘clicking’ the appropriate button or following other on screen instructions via our web site.
You will at all times take reasonable measures to ensure that you pass no computer viruses or such like onto our system network.
We have the right to assign the legal benefit and responsibilities of this agreement,