This is a legal contract between iBex Markets, herein after known as (“iBex Markets”, “us” or “we”) its successors and assigns, and the party/parties (the “Client”, “customer” or “you”) executing this document. This document, together with our Risk Disclosure Statement and Privacy Statement, represents the terms with which iBex Markets will do business with Client. This document sets out the respective rights and obligations of both parties in connection with this service and both parties will accept and be bound by these terms on acceptance of the terms contained herein and on completion of the application form by Client. In connection with opening an account with iBex Markets to speculate in, and/or purchase, and/or sell, Forex and Contracts for Differences (herein after referred to as “CFDs”), in commodities, metals, currencies and indices, and the receipt of such other services and products as iBex Markets may, in its sole discretion, determine to offer from time to time in the future, Client acknowledges that it has been advised and understands the following factors concerning trading in the over the counter market (“OTC”), in addition to those contained in the Risk Disclosure Statement which has been provided to Customer. We trade contracts for differences (“CFD”) transactions in OTC. In consideration of iBex Markets agreeing to provide services to “Client”, “customer” or “you” in connection with the purchase of Forex and CFDs in commodities, currencies, metals and indices and the receipt of such other services and products as iBex Markets may, in its sole discretion, determine to offer from time to time in the future and which may be purchased or sold by or through iBex Markets for Client’s accounts(s), Client agrees that the following rights and obligations will govern the relationship between iBex Markets and Client.
OTC trading means that trading does not take place on a regulated exchange. There are no guarantees as to the credit worthiness of the counter party of your Forex and CFDs position. Also, there may be certain cases in which trading liquidity decreases, causing Forex and CFDs in commodities, currencies, metals and indices to cease, thereby preventing the liquidation of an adverse position which may result in a substantial financial loss.
iBex Markets does not provide investment advice. The market recommendations, signals, information provided by and/or distributed by iBex Markets are general in nature and based solely on the judgment of iBex Markets’s personnel or from third party information providers. These market recommendations may or may not be consistent with the market position or intentions of iBex Markets, its affiliates, and/or employees. The market recommendations and information provided by iBex Markets are based upon information believed to be reliable, but iBex Markets cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will eliminate the risk inherent in trading Forex and CFDs. Any market recommendations of, or information provided by, iBex Markets does not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any OTC transaction. Client understands and hereby agrees that Client is capable of, and solely responsible for, assessing the merits and risks of any trade it may enter into with iBex Markets.
Client understands that iBex Markets does not permit its employees to either exercise discretion or manage an OTC account. If Customer’s account is not being traded with Client’s authorization, Client must notify iBex Markets immediately. iBex Markets’s margin policies and/or the policies of those banks/clearing houses through which trades are executed may require that additional funds be provided to properly margin Client’s account and Client is obligated to immediately meet such margin requirements. Failure to meet margin calls may result in the liquidation of any open positions with a resultant loss. iBex Markets reserves the right to refuse to accept any order. Client understands that it must carefully review the reports relating to Client’s trading posted online by iBex Markets. All reports of execution and statements of accounts will be deemed final unless customer objects within two business days of being posted. Objections may be made initially by email or by telephone, but must be confirmed thereafter in writing.Client understands that iBex Markets may establish rules and provisions for client accounts, including but not limited to minimum account size, investment time period, commissions and fees, leverage size per instrument, mark ups, rules relating to stop losses and limits, rules relating to rollovers, rules relating to margin calls, or any other financial arrangement, and that such rules and provisions may be changed by iBex Markets from time to time. iBex Markets has read and understands the Client’s obligations and rights under this Customer Agreement and agrees and acknowledges that this Customer Agreement, the Risk Disclosure Statement and the Privacy Statement will comprise the terms of the Client’s relationship with iBex Markets. The Client agrees that Client is fully responsible for making all decisions as to transactions effected for Client’s account. Client has considered the foregoing factors and in view of Client’s present and anticipated financial resources, Client is willing and able to assume the substantial financial risks of OTC trading.
It is the customer’s responsibility to find out all necessary information about trading in forex and cfds, and ibex markets terms and conditions and make sure that All risks and arrangements are discussed and clearly understood prior to any trading activity.
Terms And Conditions
“iBex Markets” shall, where the context so permits or requires, be deemed to mean iBex Markets its subsidiaries and affiliates and their successors and assigns;
“Client” shall mean the party (or parties) who have agreed to be bound by the terms of this Agreement;
“Agreement” shall include this agreement and all other agreements and authorizations executed by Customer in connection with the maintenance of Customer’s account with iBex Markets. The paragraph headings in this Agreement are inserted for convenience of reference only and are not deemed to limit the applicability or affect the meaning of any of its provisions.
Information About Ibex Markets
iBex Markets is a registered brand name does not provide services to residents or entities from certain restricted or sanctioned countries.
iBex Markets is a registered financial services company and has become an industry leader in Forex and CFDs education by providing an atmosphere where Clients can not only learn to master the markets through courses but also engage in day to day live trading activities with industry renowned traders.
IbexMarkets is a brand name of TBC International Markets, registered in the Tavernier Street, Wall House, Loubiere, DOMINICA. with license number IBC00120.
Under this License, IbexMarkets is licensed to provide Forex, CFD, Commodities, Metals, Stocks and Cryptocurrencies brokerage and educational services.
The principal method of communication between iBex Markets and Client will be electronically via iBex Markets’ website and on-line trading platforms.
Information regarding orders placed and executed will be addressed personally to Client through a customer specific account.
However, certain information will be provided generally on our website, such as general market recommendations and Client hereby consents to receiving information not addressed personally to customer in that form.
Client may also place orders via the phone with our dealing room. In the course of our dealings with you, you may place orders with us via our on-line trading platform in the languages which are posted on our website, which is updated with additional languages from time to time.
Where orders are placed by phone via the dealing room you may communicate with us in any one of the languages which are listed on the website.
All written communications from us to you will be in the language used to register your account via our website.
Authorization To Trade
iBex Markets is authorized to enter into Forex, CFD contracts on an over-the-counter basis with Client in accordance with Client’s oral or written or computer instructions, subject to the terms of this Agreement and all annexes hereto.
On completion of the application form by Client, iBex Markets will issue Client with a secure password which is to be used with the chosen username of the Client.
iBex Markets’ security systems are designed to ensure that any information provided to and from Client is securely transmitted. Client is obligated to keep passwords secret and is solely responsible for ensuring that third parties do not obtain access to the password or iBex Markets’s trading facilities. Client agrees to be exclusively responsible for any instruction received electronically that is identified with Client’s password and account number and for any electronic, oral and written instruction to iBex Markets from persons iBex Markets in its sole judgment, believes are apparently authorized by Client. If Client’s account is titled as a joint account, iBex Markets is authorized to act on the instructions of any one owner, without further inquiry, with regard to trading on the account and the disposition of any and all assets in the account. iBex Markets shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any actions taken or omitted to be taken by iBex Markets in reliance on any such instructions or on the apparent authority of any such persons. iBex Markets has the authority to require joint action by the owners of the account in respect of the account. iBex Markets may send all correspondences and documents in respect of the account to any one owner of a joint account. iBex Markets has possession over the security of the account whether individual or joint. If a death occurs to one or more of the owners of a joint account, iBex Markets shall be notified in writing and shown proof of a death certificate. All expenses due at the date of notification shall be charged to the account. Up to the time valid written notification is provided to iBex Markets, each owner of a joint account is presumed to have an equal share in the joint account.
Appropriateness Of Trading
Although iBex Markets issues general market recommendations; these should not be construed as personal recommendations or advice to trade with iBex Markets. As such we are under no obligation to assess the suitability or otherwise of the Client trading Forex and CFDs with iBex Markets. All trades entered into by Client represent an independent decision by the Client to trade with iBex Markets.
Governmental Counter Party Institution And Interbanking System Rules
All transactions under this Agreement shall be made in accordance with usage, rulings and interpretations of the counter party institution or other interbank market (and its clearing organization, if any) and with all applicable laws and regulations. If any statute shall hereafter be enacted or any rule or regulation shall hereafter be adopted by any governmental authority, or a contract market or clearing organization which shall be binding upon iBex Markets and shall affect in any manner or be inconsistent with any of the provisions hereof, the affected provisions of this Agreement shall be deemed modified or superseded, as the case may be, by the applicable provisions of such statute, rule or regulation, and all other provisions of this Agreement and provisions so modified shall in all respects continue in full force and effect. Client acknowledges that all transactions under this Agreement are subject to the aforementioned regulatory requirements and Client shall not thereby be given any independent legal or contractual rights with respect to such requirements.
Margins And Deposit Requirements
Client shall provide to and maintain with iBex Markets margin in such amounts and in such forms as iBex Markets, in its sole discretion, may require.
Such margin requirements may be greater or less than margins required by those banks or brokers with which trades are executed.
iBex Markets may change margin requirements at any time.
Client agrees to deposit by immediate wire transfer, or other payment method acceptable to iBex Markets, such additional margin when and as required by iBex Markets and will promptly meet all margin calls in such mode of transmission as iBex Markets in its sole discretion designates.
iBex Markets may at any time proceed to liquidate Client’s account and any failure by iBex Markets to enforce its rights hereunder shall not be deemed a waiver by iBex Markets to enforce its rights thereafter.
iBex Markets retains the right to limit the amount and/or total number of open positions which Client may acquire or maintain at iBex Markets, and to increase margin requirements in advance of earnings or other news or events, with or without notice, either before such events or retroactively or at any other time that it deems at its sole discretion.
Orders must be placed allowing sufficient time to execute and to calculate margin requirements
Profits deriving from a transaction shall be added to Client’s account as additional margin, as long as the transaction is open, and upon the closing of the transaction, as an addition to the available balance for withdrawal.
Losses deriving from a transaction shall be deducted from Client’s account.
iBex Markets may elect to grant a benefit to Client by depositing bonus amounts in Client’s trading account, subject to certain terms and conditions as shall be determined by iBex Markets, at its sole discretion. Such bonus amounts may not be withdrawn by Client, unless Client complies with the applicable trading requirements posted on iBex Markets’s website as may be amended from time to time or as communicated to Client.
If iBex Markets suspects or has reason to believe that Client has attempted fraudulent activity in order to claim a bonus, or any other promotion, iBex Markets reserves the right to:
- Cancel or reject the bonus promotion, and any related trading agent bonus, at its sole discretion
- To terminate Client’s access to services provided by iBex Markets and/or terminate the contract between iBex Markets and the Client for the provision of services,
- To block Client’s Account(s) and to arrange for the transfer of any unused balance to Client.
If iBex Markets suspects or has reason to believe that Client has abused the terms and conditions of a bonus offer by hedging positions internally (using other trading accounts held with iBex Markets) or externally (using other trading accounts held with other brokers), iBex Markets reserves the right to cancel bonuses, and any trades or profits associated with Client’s account(s).
Bonus promotions may be restricted in certain jurisdictions.
iBex Markets reserves the right to cancel or reject bonus promotions at its sole discretion.
Interest is not payable by iBex Markets on client funds deposited by Client.
All funds, securities, currencies, and other property of Client which iBex Markets or its affiliates may at any time be carrying for Client (either individually, jointly with others, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by iBex Markets as security and subject to a general lien and right of set-off for liabilities of Client to iBex Markets whether or not iBex Markets has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Client may have with iBex Markets.
iBex Markets may in its discretion, at any time and from time to time, without notice to Client, apply and/or transfer any or all funds or other property of Client between any of Client’s accounts.
Client hereby also grants to iBex Markets the right to pledge, re-pledge, invest or loan, either separately or with the property of other Client, to itself as broker or to others, any securities or other property of Client held by iBex Markets as margin or security.
iBex Markets shall at no time be required to deliver to Client the identical property delivered to or purchased by iBex Markets for any account of Client.
This authorization shall apply to all accounts carried by iBex Markets for Client and shall remain in full force until all accounts are fully paid for by Client or notice of revocation is sent by iBex Markets from its home office.
Any failure by iBex Markets to enforce its rights hereunder shall not be deemed a future waiver of such rights by iBex Markets
iBex Markets is irrevocably appointed as attorney in-fact for Client and is authorized, without notice to Client, to execute and deliver any documents, give any notice and to take any actions on behalf of Client, including the execution, delivery and filing of financing statements, that iBex Markets deems necessary or desirable to evidence or to protect iBex Markets’ interest with respect to any collateral.
In the event that the collateral deemed acceptable to iBex Markets is at any time insufficient to satisfy Client’s indebtedness or other obligations to iBex Markets, including obligations to provide margin hereunder, Client shall promptly pay upon demand the entire amount of such deficit.
Default of Credit Institution and Monitoring:
In the event of default of one of our appointed credit institutions, iBex Markets does not accept responsibility and is not subject to any liability arising from losses to clients arising from such a default.
However, we conduct appropriate and continuing risk assessment of our appointed credit institutions in order to ensure that our appointed credit institutions are safe repositories.
We will supply the details of our appointed credit institutions on request to retail clients, including the names of those institutions and the client account details.
Where Client does not wish iBex Markets to deposit funds with a particular credit institution, we will return such funds to Customer as soon as possible.
Clients trading on the iBex Markets platform agree to the transfer of full ownership of funds to iBex Markets for the purpose of securing or otherwise covering a required margin and as such the required margin will no longer be treated as belonging to the Client. iBex Markets will deposit the required margin as collateral with its liquidity provider(s). These funds will not be registered in the client’s name. Funds deposited by the Client in excess of the required margin will be treated as client funds in accordance with the Client Asset.
Conflicts Of Interest
iBex Markets is required to maintain and operate effective organizational and administrative controls to take all reasonable steps to identify, manage, disclose and record conflicts of interest. In order to achieve this iBex Markets has established and implemented a Conflicts of Interest policy.
Where arrangements made by iBex Markets to manage conflicts of interest are insufficient to ensure, with reasonable confidence, that risks of damage to client interests will be prevented, iBex Markets shall clearly disclose to the client the general nature and the sources of the conflicts of interest before undertaking business on the client’s behalf.
In the event that you are dissatisfied with the service provided by iBex Markets, we will deal with your complaint internally and will endeavor to come to a satisfactory solution promptly.
All complaints should be directed to firstname.lastname@example.org.
Liquidation Of Accounts And Payment Of Deficit Balances
In the event of
(a) the death or judicial declaration of incompetence of Client;
(b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer;
(c) the filing of an attachment against any of Client’s accounts carried by iBex Markets,
(d) insufficient margin, or iBex Markets’s determination that any collateral deposited to protect one or more accounts of Client is inadequate, regardless of current market quotations, to secure the account;
(e) Client’s failure to provide us with any information requested pursuant to this agreement or any applicable law; or
(f) any abuse of trading practices, manipulations and/or fraud by Client or any other person authorized to use the account; or
(g) any other circumstances or developments that we deem appropriate for its protection, and in iBex Markets’s sole discretion, it may take one or more, or any portion of, the following actions:
Satisfy any obligation Client may have to us, either directly or by way of guarantee of suretyship, out of any of Client’s funds or property in iBex Markets’s custody or control;
Sell any or purchase any or all Currency contracts, securities held or carried for Client; and
Cancel any or all outstanding orders or contracts, or any other commitments made on behalf of Client.
Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Client, Client’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Client’s or held jointly with others.
Prior demand or notice of sale or purchase shall not be considered a waiver of iBex Markets’s right to sell or buy at any time in the future without demand or notice as provided above.
In liquidation of Client’s long or short positions, iBex Markets may, in its sole discretion, offset in the same settlement or it may initiate new long or short positions in order to establish a hedge which in iBex Markets sole judgments may be advisable to protect or reduce existing positions in Client’s account.
Any sales or purchases hereunder may be made according to iBex Markets’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, and iBex Markets may purchase the whole or any part thereof free from any right of redemption.
For Client’s protection, Equity or Net Liquidation Value of the Client’s trading account drops below the Minimum Margin Requirement; all of Client’s open transactions shall be automatically closed, whether at a loss or a profit.
For the iBex Markets and cTrader platforms, the Minimum Margin Requirement is equal to 10% of the Required Margin.
If the amount in Client’s trading account is less than zero, Client shall promptly notify iBex Markets and iBex Markets shall nullify the account.
Neither iBex Markets nor any of its subsidiaries, affiliates or agents shall be responsible for any loss or damage caused due to closing of positions in accordance with the above.
Client shall at all times be liable for the payment of any deficit balance of Client upon demand by iBex Markets and in all cases, Client shall be liable for any deficiency remaining in Client’s account(s) in the event of the liquidation thereof in whole or in part by iBex Markets or by Client.
In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Client due to iBex Markets, Client shall promptly pay upon demand, the deficit and all unpaid liabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at iBex Markets’ principal bank or the maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like.
In the event iBex Markets incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Client, Client agrees to pay such expenses.
Fees arising out of iBex Markets providing services are outlined in the Trading Conditions and Charges page.
Client is aware that a part of iBex Markets’s revenues derives from the spread on each transaction. The spread is the difference between the bid & the ask price of the price quote on a transaction.
iBex Markets may increase or decrease spreads on any or all instruments, at its sole discretion, at any time without notification due to various mitigating factors – market sentiment, news times or announcements, trading volumes, market volatility and/or additional internal or external factors. This may be affected on an individual client basis or for all clients simultaneously.
Where a customer requests a specific fee structure, a commission may be payable by Client to open and close Forex and CFDs. Such commission payable will be debited from Client’s account at the same time as iBex Markets opens or closes the relevant Forex and CFDs.
Where we increase or introduce any new charges, we will post the changes on our website at least 7 days before they take effect.
We may also charge for incidental banking-related fees such as wire charges for deposits/withdrawals and returned check fees.
In certain circumstances additional fees may include such things as statement charges, order cancellation charges, account transfer charges, telephone order charges or fees imposed by any interbank agency, bank, contract, market or other regulatory or self-regulatory organizations arising out of iBex Markets provision of services hereunder.
Client may incur additional fees for the purchase of optional, value added services we offer.
Rollovers, Overnight Interest:
A daily financing charge may apply to each Forex and CFDs open position at the closing of iBex Markets’s trading day as regards that Forex and CFDs.
If such financing charge is applicable, it will either be requested to be paid by Client directly to iBex Markets or it will be paid by iBex Markets to Client, depending on the type of Forex and CFDs and the nature of the position Client holds.
The method of calculation of the financing charge varies according to the type of Forex and CFDs to which it applies. Moreover, the amount of the financing charge will vary as it is linked to current interest rates.
The financing charge will be credited or debited (as appropriate) to Client’s account on the next trading day following the day to which it relates.
iBex Markets reserves the right to change the method of calculating the financing charge, the financing rates and/or the types of Forex and CFDs to which the financing charge applies.
For certain types of Forex and CFDs a commission is payable by Client to open and close Forex and CFDs positions. Such commission payable will be debited from Client’s account at the same time as iBex Markets opens or closes the relevant Forex and CFDs.
Trades in CFDs are linked to the market price of a certain base asset, including the market price of future contracts. A few days prior to the expiration date of the base asset to which the CFD is linked, the base asset shall be replaced with another asset, and the quotation of the CFD shall change accordingly.
CFDs do not have an expiration date.
Trades in CFDs are continuous and the base assets to which they are linked vary from time to time.
iBex Markets reserves the right to determine the base asset to which CFDs are linked, the date of replacement of the base asset, and the replacement conditions.
Following the replacement of the base asset, the quotation of the CFDs shall be adjusted, and the Client’s account shall be credited or debited, as applicable, in accordance with the difference in quotations created due to the replacement of the base asset.
The difference in quotations between the base assets is affected by the difference in rates between selling and buying of such assets in the market, and therefore the revaluation of selling and buying transactions shall be in different values.
Clients will incur costs in relation to the Spread Cost in closing the Old contract and Opening the New Contract and a Standard Overnight Interest charge.
In most cases, the debits shall be higher than credits.
Any open transaction held by Client at the end of the trading day as determined by iBex Markets or over the weekend, shall automatically be rolled over to the next business day so as to avoid an automatic close and physical settlement of the transaction.
Client acknowledges that when rolling over such transactions to the next business day, overnight interest may be either added or subtracted from Client’s account with respect to such transaction.
The overnight interest amount shall be determined by iBex Markets from time to time, in iBex Markets’ absolute discretion.
Client hereby authorizes iBex Markets to add or subtract the overnight interest to or from Client’s account for any open transaction that have accrued overnight interest, in accordance with the applicable rate thereto, each day at the time of collection specified on the trading platform for each individual instrument, as applicable.
Full information related to applicable charges can be found at Trading Conditions and Charges.
Communications, Statements And Confirmations
Reports, statements, notices, trade confirmations, and any other communications will be posted online and may be transmitted to such address as Client may from time to time designate in a written or electronic communication to iBex Markets.
Client is responsible for alerting iBex Markets to any change in its e-mail address.
Communications are deemed received when made available to Client by iBex Markets, regardless of whether Client actually accessed the statement.
Client will be able to generate daily, monthly and annual account statements detailing transaction activity, profit and loss statements, open positions, margin balances, account credits and debits.
Client understands that it must carefully review the reports relating to Client’s trading posted online by iBex Markets.
Reports of the confirmation of orders and statements of accounts for Client posted online by iBex Markets shall be deemed correct and shall be conclusive and binding upon Client if not objected to within two business days of the posting online.
Objections may be made initially by email or by telephone, but must be confirmed thereafter in writing.
If Client becomes aware of an error with respect to any report or statement, such as amounts erroneously credited to Client, Client shall immediately inform iBex Markets and is responsible to return such amount to iBex Markets, and if iBex Markets becomes aware of such occurrence, iBex Markets is expressly authorized to correct such error by correcting such report or statement, and, if applicable, treating this as a Deficit Balance.
Client declares that by providing its registration data to iBex Markets it hereby consents to, iBex Markets, its subsidiaries, affiliates and agents sending, and Client receiving, by means of telephone, facsimile, SMS or e-mail, communications containing content of a commercial nature relating to Customer’s use of the trading platform, including information and offers from iBex Markets or third parties that iBex Markets believes Client may find useful or interesting, such as newsletters, marketing or promotional materials.
Customer acknowledges that iBex Markets does not have to separately obtain Client’s prior consent (whether written or oral) before distributing such communications to Client, provided that iBex Markets shall cease to distribute such communications should Client notify iBex Markets in writing that Client no longer desires to receive such commercial communication.
Client statements can be generated by the client at any time on the on-line trading platform. These statements will record the time the order was executed and the balance of their account. Our internal records will state the time the order was requested from the client.
iBex Markets will also provide the client with a statement on an annual basis outlining the details of funds held by the firm for the client at end of the period covered by the statement. Statements will also show all charges applied during the period covered by the statement, if any.
Real time access to each client’s account showing transactions, the time orders were filled and the balance on the client’s account will also be available to customers.
Disclaimer Of Warranties / Limitation Of Liability
iBex Markets and/or any of its subsidiaries, affiliates or agents shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control of iBex Markets including, without limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of orders and/or information due to breakdown or failure of transmission or communication facilities, or electrical power outage.
Neither iBex Markets nor any of its subsidiaries, affiliates or agents warrants that the trading platform or any services provided (including Third Party Licenses) will be available without interruption or will be error free and such trading platform and services are being provided “AS IS” without any representation or warranty of any kind whatsoever except as otherwise set forth herein.
Under no circumstances shall iBex Markets or any of its subsidiaries, affiliates or agents be liable for any direct, indirect, punitive, incidental, special, or consequential damages that result from the use of, or inability to use, iBex Markets’s trading platform or services (including Third Party Licenses) including but not limited to lost profits, loss of business, trading loss, loss of data or use of data, any unauthorized access to, alteration, theft or destruction of Client’s computers, computer systems, data files, programs or information, or costs of procurement of substitute goods or services.
Client agrees that this section represents a reasonable allocation of risk, that this section is an essential element of this Agreement and that in its absence; the economic terms of this Agreement would be substantially different.
This limitation applies whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, even if iBex Markets or any of its subsidiaries, affiliates or agents has been advised of the possibility of such damage.
Neither iBex Markets nor any of its subsidiaries, affiliates or agents has liability or duty of indemnification related to unusable data, lost or corrupt Client transactions or data, by whatever means, in whatever form.
This limitation of liability additionally eliminates any duty or liability on the part of iBex Markets or any of its subsidiaries, affiliates or agents related to unusable data, lost or corrupt Client transactions or data, resulting in part or in whole from third-party software or networking goods or services or from internet related problems or from actions or events outside of iBex Markets’s control.
iBex Markets and its subsidiaries, affiliates and agents disclaim any and all liability resulting from or related to any breach of internet security or disruption, distortions or delays of Customer’s connections to the internet, due to any reason.
As OTC is not an exchange traded market, prices at which iBex Markets deals at or quotes may or may not be similar to prices at which other OTC market makers deal at or quote.
Should a quoting or execution error occur, which may include, but are not limited to, a mistype of a quote, a quote that is not representative of fair market prices, an erroneous price quote from a dealer or erroneous price quote due to failure of hardware, software or communication lines or systems or inaccurate external data feeds provided by third-party vendors, iBex Markets will not be liable for the resulting errors in account balances. Without derogating from the above, in the event that transactions shall be closed or opened based on the Erroneous Quote, iBex Markets’s trading room attempts to recognize such event and to act promptly to reset such event. Client acknowledges that the reset process may take time, during which Client may not be able to use its trading account, and outstanding orders may not be executed.
In case iBex Markets will identify an erroneous quote or an outdated quote, it may offer the Client an alternative quote or alternatively to continue the transaction, all at the sole discretion of iBex Markets.
Customer further acknowledges that iBex Markets, its subsidiaries, affiliates and agents shall not be liable for any loss or damage caused due to or in connection with such reset process.
Third Party Licenses:
If any third-party software is included within or embedded in the iBex Markets website or online trading platform, then such embedded third party software shall be provided subject to the terms of this Customer Agreement which apply to the online trading platform.
Client shall fully comply with terms of any Third Party Licenses that we provide from time to time. We provide no express or implied warranty, indemnity or support for the Third Party Licenses, and will have no liability related thereto.
IbexMarkets operates with a local agent in the United Kingdom registered under Tristant LTD with registration number of 12359755.
Forex And Cfds Fluctuation Risk
If Client directs iBex Markets to enter into any Forex and CFDs transaction:
Any profit or loss arising as a result of a fluctuation in Forex, CFDs, Options and Spread Betting will be entirely for Client’s account and risk;
All initial and subsequent deposits for margin purposes shall be made in U.S. Dollars, EUROs, Great British Pounds or Japanese Yen in such amounts as iBex Markets may in its sole discretion require; and
iBex Markets is authorized to convert funds in Client’s account for margin into and from such foreign currency at a rate of exchange determined by iBex Markets in its sole discretion on the basis of the then prevailing money market rates.
Client agrees to indemnify and hold iBex Markets, its subsidiaries, affiliates, agents, employees, agents, successors and assigns harmless from and against any and all liabilities, losses, damages, costs and expenses, including attorney’s fees, incurred by any of iBex Markets indemnities arising out of Client’s failure to fully and timely perform Client’s obligations herein or under any Third Party License or should any of Client’s representations and warranties fail to be true and correct.
Customer also agrees to pay iBex Markets indemnities promptly all damages, costs and expenses, including attorney’s fees, incurred in the enforcement of any of the provisions of this Agreement and any other agreements between iBex Markets and Client.
In addition to any limitations of liability specified elsewhere in this Agreement, iBex Markets indemnities shall not be held liable and are released from all claims and losses incurred in such regard if the claim or loss was caused or contributed to by:
The actions or omission to act on the part of Client,
Any act or omission by any person obtaining access to Client’s account, whether or not Client has authorized such access or not,
System malfunction, equipment failure (whether Client’s equipment or iBex Markets’s equipment), system interruption or system unavailability,
Delays, failure or errors in implementing any instruction,
Inaccurate or incomplete instructions received by iBex Markets from Client, or
Any reliance or use by Client or any other third party with access to Client’s account of any financial and market data, quotes, news, analyst opinions, research reports, graphs or any other data or information whatsoever available through the trading platform or any Third Party License, whether to complete a transaction on the trading platform or for any other purpose whatsoever.
iBex Markets shall be entitled to set off Client’s liabilities under this section from Client’s account.
Execution Of Orders, Stop And Limits
iBex Markets will use commercially reasonable efforts to complete all orders which it may, in its sole discretion, choose to accept in accordance with the oral or written or computer instructions of Client.
iBex Markets reserves the right to refuse to accept any order.
iBex Markets may, at its sole discretion, allow Client to specify a closing price for a transaction at the trading platform through a
“Close at Loss” and “Close at Profit” order, subject always to the terms of this Agreement and any other terms and conditions iBex Markets may implement from time to time. “Close at Loss” means an offer to close a transaction at a price determined in advance by Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is lower than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is higher than the opening transaction price.
“Close at Profit” means an offer to close a transaction at a price determined in advance by Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is higher than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is lower than the opening transaction price.
Upon Client’s offer and iBex Markets’s acceptance of an order, Client hereby authorizes iBex Markets to close the transaction at the Close at Loss price or Close at Profit price, as applicable, and as agreed upon in the order, without further instruction from or notification to Client.
iBex Markets may, in its sole discretion, close the transaction when the price quoted by iBex Markets on the trading platform equals the price accepted by iBex Markets for such an order.
Client acknowledges and agrees that iBex Markets shall not be obligated to close a transaction which does not otherwise comply with any other limitations agreed upon with respect to such transaction.
Client acknowledges and agrees that due to market volatility and factors beyond iBex Markets’s control, iBex Markets’s cannot guarantee that a Close at Loss order will be executed at the level specified in Client’s order. In such an event, iBex Markets will close the transaction at the next best price.
If, before Client’s “Limit Order” offer to open or close a transaction is accepted by iBex Markets, iBex Markets’s quote moves to Client’s advantage (for example, if the price goes down as Client buys or the price goes up as Client sells) Client agrees that iBex Markets will execute the closing transaction at the Client’s specified price and not better. Client agrees that iBex Markets can retain such price movement for its own account.
Client is aware that a part of iBex Markets’ revenues derives from the spreads on each transaction. The spread is the difference between the bid & the ask price of the price quote on a transaction. Therefore, in case the fair market price reduces iBex Markets’ spread in a specific transaction, iBex Markets may, at its sole discretion, choose not to execute such transaction, in which case iBex Markets may send Client an amended quote for his consideration. iBex Markets may complete a transaction at its sole discretion in case the fair market price does not affect iBex Markets’spread from the transaction and / or increases it.
Client acknowledges that investments in leveraged and non-leveraged transactions are speculative, involves a high degree of risk, and is appropriate only for persons who can assume risk of loss of their entire margin deposit.
Client understands that because of the low margin normally required in OTC trading, price changes in OTC may result in significant losses.
Client warrants that client is willing and able, financially and otherwise, to assume the risk of OTC trading, and in consideration of iBex Markets’ carrying his/her account(s), Client agrees not to hold iBex Markets and any of its subsidiaries, affiliates or agents responsible for any losses incurred by Client.
Client recognizes that guarantees of profit or freedom from loss are impossible in OTC trading.
Client acknowledges that Client has received no such guarantees from iBex Markets or from any of its representatives or any introducing agent or other entity with whom Client is conducting his/her iBex Markets account and has not entered into this agreement in consideration of or in reliance upon any such guarantees or similar representations.
The high degree of leverage that is obtainable in the trading of Forex and CFDs transactions can work against you as well as for you. Leverage can lead to large losses as well as gains.
During times of extreme volatility, it can be difficult or impossible to execute orders.
Market Recommendations And Information
Client acknowledges that:
Any market recommendations, signals and information communicated by any method of communication to Client by iBex Markets and any of its subsidiaries, affiliates, agents or by any person within iBex Markets does not constitute an offer to sell or the solicitation of an offer to buy any OTC contract, and that iBex Markets does not provide investment advice
Such recommendation and information, although generally based upon information obtained from sources believed by iBex Markets to be reliable, may be based solely on a broker’s opinion and that such information may be incomplete and may be unverified, and
iBex Markets makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or market recommendation furnished to Client and shall not be responsible for any loss or damage including without limitation any loss of margin or profits which may arise directly or indirectly from use or reliance on such recommendations or information.
Client understands that Client is solely responsible for assessing the merits and risks of any trade it may enter into with iBex Markets whether as a result of information provided by iBex Markets or otherwise.
Client acknowledges that iBex Markets and/or its officers, directors, affiliates, associates, stockholders or representatives may have a position in or may intend to buy or sell Forex and CFDs, which are the subject of market recommendations furnished to Client, and that the market position of iBex Markets or any such officer, director, affiliate, associate, stockholder or representative may not be consistent with the recommendations furnished to Client by iBex Markets.
Client acknowledges that iBex Markets makes no representations concerning the tax implications or treatment of any trading activity.
Client Representations And Warranties
Client represents and warrants that:
If Client is a natural person, Client is of sound mind, legal age and legal competence
If Client is not a natural person,
Client is duly organized and validly existing under the applicable laws of the jurisdiction of its organization;
Execution and delivery of this Agreement and all Contracts and other transactions contemplated hereunder and performance of all obligations contemplated under this Agreement and all other transactions contemplated hereunder have been duly authorized by Client; and
Each person executing and delivering this Agreement and all other transactions contemplated hereunder on behalf of the Client, has been duly authorized by Client to do so.
No person other than Client has or will have an interest in Client‘s account(s) and Client has not granted and will not grant a security interest in Client’s account with iBex Markets (other than the security interest granted to iBex Markets hereunder) to any person without iBex Markets’ prior written consent. Customer has full beneficial ownership of all collateral and will not grant any security interest in any collateral to any person (other than the security interest granted to iBex Markets hereunder) without iBex Markets’ prior written consent; and,
Client hereby warrants that regardless of any subsequent determination to the contrary, Client is suitable to trade OTC; and,
Client is not now an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange and/or firm registered on any exchange, or any bank, trust, or insurance company, and in the event that Client becomes so employed, Client will promptly notify us, at iBex Markets ‘s home office, in writing, of such employment; and,
Client will execute and deliver all documents, give all notices, make all filings and take such other actions as iBex Markets, in its sole discretion, deems necessary or desirable to evidence or perfect any security interest in favor of iBex Markets or to protect iBex Markets’s interests with respect to any Collateral; and,
Client has read and understands the provisions contained in this Agreement, including, without limitation, iBex Markets’s Risk Disclosure Statement and Privacy Statement; and
Client will review this Agreement; and
Client will not affect any transaction in Client’s account unless Client understands this Agreement, and Client agrees that in effecting any transaction it is deemed to represent that it has read and understands this Agreement as in effect at the time of such transaction; and
Client agrees to, and shall at all times comply with all applicable laws, statutes and regulations and Client hereby declares that the execution and delivery by Client of this Agreement and all other transactions contemplated hereunder, and performance of all of Client’s obligations contemplated under this Agreement and any other transaction contemplated hereunder, will not violate any statute, rule, regulation, ordinance, charter, by-law or policy applicable to Client. Client may not use this account with iBex Markets for any illegal activity.
In the event that Client, due to its observance of Islamic religious beliefs cannot receive or pay interest, Client may elect to designate, in the manner provided by iBex Markets, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers.
In the event that Client designates its account as an Islamic account, Client may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit.
iBex Markets reserves the right to cancel the aforesaid benefit at any time and take any action necessary in iBex Markets’ absolute discretion due to abuse of this benefit.
Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by iBex Markets as interest), cancellation of transactions, and adjustment of account balances.
Disclosure Of Financial Information
The Client represents and warrants that the financial information disclosed to us in his/its Application is an accurate representation of the Client’s current financial condition.
The Client represents and warrants that the Client has very carefully considered the portion of the Client’s assets which the Client considers to be risk capital.
The Client recognizes that risk capital is the amount of money the Client is willing to put at risk and the loss of it would not, in any way, change the Client’s lifestyle.
The Client agrees to immediately inform us if the Client’s financial condition changes in such a way to reduce the Client are net worth, liquid assets and/or risk capital.
No Separate Agreements
Client acknowledges that Client has no separate agreement with AvaTrade or any of its employees or agents regarding the trading in Customer’s iBex Markets account, including any agreement to guarantee profits or limit losses in Client’s account.
Client understands that Client must authorize every transaction prior to its execution unless Customer has delegated discretion to another party by signing iBex Markets’ limited trading authorization or as otherwise agreed in writing with iBex Markets, and any disputed transactions must be brought to the attention of iBex Markets’ Compliance Officer pursuant to the notice requirements of this Client Agreement.
Customer agrees to indemnify and hold iBex Markets and its subsidiaries, affiliates and agents harmless from all damages or liability resulting from Customer’s failure to immediately notify iBex Markets’ Compliance Officer of any of the occurrences referred to herein.
All notices required under this section shall be sent to iBex Markets at its home office.
Marketing Partner Referral Disclosure
iBex Markets may engage with advertising affiliates/referrers/marketing partner (“Marketing Partners”) who are wholly separate and independent from one another and from iBex Markets. Any agreement between iBex Markets and Marketing Partner does not establish a joint venture or partnership and Marketing Partner is not an agent or employee of iBex Markets.
iBex Markets does not control, and cannot endorse or vouch for the accuracy or completeness of any information or advice Client may have received or may receive in the future from iBex Markets’ Marketing Partners or from any other person not employed by, or acting on behalf of iBex Markets, regarding the risks involved in the trading of Forex and CFDs or the risks involved in such.
Since Marketing Partner is not an employee or agent of iBex Markets, iBex Markets does not endorse or vouch for the services provided by the Marketing Partner. It is the Client’s responsibility to perform necessary due diligence on the Marketing Partner prior to using any of their services.
Client understands that in order to trade with iBex Markets the Client must open an account directly with iBex Markets. iBex Markets makes available appropriate risk disclosure information to all Clients when they open accounts. Client should read that information carefully and should not rely on any information to the contrary from any other source.
Client acknowledges that no representations and/or warranties have been made by iBex Markets its servants or agents or any individual associated with iBex Markets regarding future profits or losses in Client’s account.
Client understands that Forex and CFDs trading is very risky, and that many people lose money trading and that all Forex and CFDs trading, including trading done pursuant to a system, course, program, research or recommendations of Marketing Partner, Trading Agent or any other third party involves a substantial risk of loss. In addition, Client hereby acknowledges, agrees and understands that the use of a trading system, course, program, research or recommendations of Marketing Partner, Trading Agent or any other third party will not necessarily result in profits, avoid losses or limit losses.
Because the risk factor is high in Forex and CFDs trading, in case Client does not have the extra capital he can afford to lose, Client should consider carefully before trading.
Client understands and acknowledges that iBex Markets may remunerate a Marketing Partner for referring Client to iBex Markets and that such remuneration may be on a per-trade basis or other basis. Further, the Client has a right to be informed of the precise nature of such remuneration.
Client acknowledges that a Marketing Partner may also, in some circumstances, be a Trading Agent. Client understands that by using a Trading Agent, Client may incur a mark-up, above and beyond the ordinary spread generally provided by iBex Markets.
iBex Markets shall in no way be responsible for any loss to Client resulting from Client’s use of any information or advice given by any third party including a Trading Agent or Marketing Partner .
Client acknowledges that should Client choose to grant trading authority or control over Client’s account to a third party (“Trading Agent”), whether on a discretionary or non-discretionary basis, Client does so at its own risk.
Client acknowledges that iBex Markets its subsidiaries, affiliates or agents shall in no way be responsible for reviewing Client’s choice of such Trading Agent, or the actions taken by it, nor making any recommendations with respect thereto.
Client acknowledges and understands:
That iBex Markets makes no warranties or representations concerning any Trading Agent,
That iBex Markets its subsidiaries, affiliates or agents shall not be responsible for any loss to Client occasioned by the actions of the Trading Agent, and
That iBex Markets does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent.
If a Client chooses to grant trading authority or control over Client’s account to a Trading Agent, Client agrees to enter into a power of attorney agreement (‘POA’) with the Trading Agent to permit same, and to furnish the POA to iBex Markets.
Client acknowledges that upon receipt of the POA, iBex Markets is authorized to follow the instructions of the Trading Agent in every respect until iBex Markets is notified in writing by the Client that the POA is revoked or the POA has expired. The Client authorizes iBex Markets to debit Client’s Account in accordance with the terms agreed between Client and Trading Agent and which are set out in the POA.
For every withdrawal request, the client must reach the minimum volume trade prior to their total investment. To specify the required minimum volume trade, the client’s total investment must be multiplied by 20,000. The 20,000 multiplier is the standard amount to reach the required legal volume trade.
Client acknowledges that the Trading Agent and many third-party vendors of trading systems, courses, programs, research or recommendations may not be regulated by a government agency. It is the Client’s responsibility to perform necessary due diligence on the Trading Agent prior to using any of their services and to satisfy themselves of its competence and/or suitability to the Client.
Client acknowledges that it or the Trading Agent may elect to use an automated trading system. Client acknowledges that iBex Markets does not take any responsibility for any such system. The Client is aware of the volume of trading and resulting commissions that such systems may generate and the impact that this may have on the performance of the Account Client accepts the risks associated with the use of computers and data feed systems, which may include, but are not limited to, failure of hardware, software or communication lines or systems and/or inaccurate external data feeds provided by third-party vendors and the Client further agrees to hold iBex Markets harmless from any losses in the Account associated with these risks. Client acknowledges that neither iBex Markets nor any of its officers, directors, vendors, employees, agents, associated persons or iBex Markets personnel will be liable for any such breakdown or failure.
Client understands that by using a Trading Agent, Client may incur a mark-up, above and beyond the ordinary spread generally provided by iBex Markets. Details of any such markup will be provided in the agreement between the Trading Agent and Client.
Client acknowledges that any decisions or actions taken by the Trading Agent on Client’s behalf shall be deemed to have been taken by the Client and any losses or gains generated by the Trading Agent’s action shall be for the Client’s account.
Client agrees to indemnify and hold Ava, harmless from and against all liabilities, losses, damages, cost and expenses, including attorney’s fees that arise directly or indirectly from the Trading Agent’s management of the account, including, without limitation all actions, instructions or omissions by the Trading Agent.
The Client acknowledges that the risk factor in trading foreign exchange, commodities, futures, Forex and CFDs is substantially high, and therefore the Client further acknowledges that she/he should carefully consider trading through iBex Markets, whether through a Trading Agent or otherwise, if the Trader does not have capital she/he can afford to lose.
Disclosure Of Customer Information
iBex Markets will not share or sell information regarding customers and/or prospective customers, except to its employees, agents, partners, and associates as required in the ordinary course of business, including, but not limited to, iBex Markets’ banking or credit relationships, or to other persons as disclosed in iBex Markets’ Privacy Statement.
iBex Markets may also disclose to federal or state regulatory agencies and law enforcement authorities’ information regarding Client and Client’s transactions in response to a request for such information or in response to a court order or subpoena.
iBex Markets will share or sell statistical information without disclosing Client’s identity.
This Agreement shall continue in effect until termination, and may be terminated by Client at any time upon three days prior written notice (which may be by e-mail) when Client has no Forex and CFDs position(s) and no liabilities held by or owed to iBex Markets upon the actual receipt by iBex Markets at its home office of written notice of termination, or at any time whatsoever by iBex Markets upon the transmittal of written notice of termination to Client; provided, that such termination shall not affect any transactions previously entered into and shall not relieve either party of any obligations set out in this agreement nor shall it relieve Client of any obligations arising out of any deficit balance.
Intellectual Property And Confidentiality
All copyright, trademark, trade secret and other intellectual property rights and proprietary rights to the iBex Markets website in its totality, its contents and any related materials shall remain at all times the sole and exclusive property of the iBex Markets and its licensors and in the case of third party materials available on the iBex Markets web site to such third party and Clients shall have no right or interest in the iBex Markets IP except for the right to access and use the iBex Markets IP as specified herein.
Client acknowledges that the iBex Markets IP is confidential and has been developed through the expenditure of substantial skill, time, effort and money.
The Client will protect the confidentiality of the iBex Markets IP and not allow website access to any third party.
Client will not publish, distribute, or otherwise make available to third parties any information derived from or relating to the iBex Markets IP.
Client will not copy, modify, de-compile, reverse engineer, or make derivative works of the iBex Markets or in the manner in which it operates.
If Client has comments on iBex Markets’ services or ideas on how to improve them, Client is welcome to contact iBex Markets. By doing so, Client grants iBex Markets a perpetual, royalty-free, irrevocable, transferable license, with right of sublicense, to use and incorporate Client’s ideas or comments into the iBex Markets’services, and to otherwise exploit Client’s ideas and comments, in each case without payment of any compensation.
Client agrees and acknowledges that all conversations regarding Client’s account(s) between Client and iBex Markets’ personnel may be electronically recorded with or without the use of an automatic tone warning device.
Client further agrees to the use by iBex Markets’, its subsidiaries, affiliates and agents of such recordings and transcripts as it deems fit in connection with any dispute or legal preceding that may arise.
Client understands that iBex Markets’ destroys such recordings at regular intervals in accordance with iBex Markets’ established business procedures and Client hereby consents to such destruction.
Without limiting the foregoing, Client understands that laws regarding financial contracts vary throughout the world, and it is Client’s obligation alone to ensure that Client fully complies with any law, regulation or directive, relevant to Client’s country of residency with regards to the use of the Web site.
For avoidance of doubt, the ability to access iBex Markets’ website does not necessarily mean that iBex Markets’services, and/or Client’s activities through it, are legal under the laws, regulations or directives relevant to Client’s country of residency.
This website does not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized, or to any person to whom it is unlawful to make such an offer or solicitation.
Access to this website, and the offering of financial contracts via this site, may be restricted in certain jurisdictions, and, accordingly, users accessing this site are required to inform themselves of, and to observe, such restrictions.
By acceptance of this Agreement, Client hereby declares that the moneys invested in Customer’s account with iBex Markets do not originate from drug trafficking, abduction, or any other criminal activity.
Client knows, understands and agrees that, in general, iBex Markets does not collect tax for any authority in any form or manner.
Without limiting the foregoing, it is Client’s obligation alone to calculate and pay all taxes applicable to you in Client’s country of residence, or otherwise arising as a result of Client’s trading activity from the use of the iBex Markets’ services.
Without derogating from Client’s sole and entire responsibility to perform tax payments, Client agrees that iBex Markets may deduct tax, as may be required by the applicable law, but is not obligated to do so, from the results of the activity with iBex Markets.
Client is aware that amounts that may be withdrawn by Client from Client’s account are “gross amounts”, from which the iBex Markets may deduct such taxes, and that Customer shall have no claim towards iBex Markets with regard to such deductions.
Account Procedures – Identification
Client acknowledges that applicable laws require financial institutions to obtain, verify, and record information identifying each person who opens an account.
Client further acknowledges that iBex Markets makes efforts to prevent fraud and to confirm Client’s identity.
Accordingly, Client has provided iBex Markets, or shall provide iBex Markets promptly following the opening of the trading account, with certain identifying information and documents as shall be requested by iBex Markets, including a copy of Client’s Valid ID, and a copy of Client’s utility bill (e.g., phone bill, property tax bill).
Client confirms that Client has provided true, accurate, current and complete information during the registration process, and that Client has not impersonated any person or entity, or misrepresented any affiliation with another person, entity or association, used false headers or otherwise concealed Client’s identity from iBex Markets for any purpose.
Withdrawal And Deposit Procedures
Client further acknowledges and accepts iBex Markets’ procedures with respect to withdrawals and deposits to accounts as set forth below:
Withdrawal orders: The provision of documentation as may be required from time to time by Anti Money Laundering regulations, credit card companies and iBex Markets, is a prerequisite, prior to the execution of a withdrawal order.
Client acknowledges that withdrawals may take longer than expected for numerous reasons, some in iBex Markets’ control and some not.
Credit card deposits may be, according to credit card companies’ regulations, returned to the same credit card when a withdrawal is performed. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to credit card or to the bank account at iBex Markets’ discretion. Withdrawals to bank account may take a longer time period, due to additional security procedures.
Credit Card Deposits Variance: When choosing an account base currency other than USD, Client’s credit card may be debited sums which due to exchange rates and credit card companies’ fees, may slightly vary from the initial sum that has been deposited by Client in the account base currency. Client hereby accepts that such variations may occur and hereby affirms that Client shall not seek to object or charge this back.
When depositing by a Bank Transfer, as required by anti-money-laundering regulations, Client is required to use a bank account, which is in Client’s country of residence and in Client’s name. Any withdrawal of funds, from Client’s iBex Markets account to a bank account, can only be refunded to the same bank account that the funds were originally received from.
Alternative payment methods (internet payment vendors; money transfer services; etc.): when depositing funds using a facility other than credit cards and/or banks, you agree to, and acknowledge being bound by, the regulations and rules of such service, including, but not limited to, fees and other restrictions. iBex Markets, at its sole discretion, may execute withdrawals to a facility other than the facility used for the original deposit, in accordance with anti-money-laundering regulations.
Client hereby consents to receive account statements and trade confirmations online.
iBex Markets will provide customer with password-protected access to online reports.
Client will be able to generate Daily, Monthly and Annual account statements detailing transaction activity, profit and loss statements, open positions, margin balances, account credits and debits, etc.
Hard copies of Monthly customer statements are available upon request only and may incur an additional charge.
Statements are deemed received when made available to Client by iBex Markets, regardless of whether the Client actually accessed the statement.
Client is responsible for alerting iBex Markets to any change in their e-mail address.
This consent shall be effective until revoked by Client in writing and received by iBex Markets according to Section 16 of this Client Agreement.
Consent To Electronic Signature
By electronically signing iBex Markets’ account agreement and related documents, Client acknowledges receipt of the Client account letter, Client agreement and other documents contained as part of iBex Markets’ electronic account package and Client agrees to be bound by their terms and conditions.
In addition, by signing iBex Markets’ account agreement and related documents, Client is consenting to iBex Markets maintaining and Client receiving electronic records of Client’s trades and accounts.
Consent To Execution Of Orders Outside A Regulated Market Or Mtf
Client hereby acknowledges and consents to iBex Markets executing orders over the counter and outside a regulated market or MTF.
Waiver And Amendment
Client understands, acknowledges and agrees that iBex Markets may amend or change this Agreement at any time.
iBex Markets will provide notice to Client of any such amendment or change by posting the amendment or change on iBex Markets ‘s website or by sending an e-mail message to Client at least 7 days before it takes effect.
Client agrees to be bound by the terms of such amendment or change on that date.
In the event that Customer objects to any such change or amendment, Client agrees to liquidate Client’s open positions and instruct iBex Markets regarding the disposition of all assets in Client’s account within ten (10) business days after notice of the amendment or change has been posted on AvaTrade’s website or otherwise notified Client.
No waiver or amendment of this Agreement may be implied from any course of dealing between the parties or from any failure by iBex Markets or failure of iBex Markets ‘s agents to assert its rights under this Agreement on any occasion or series of occasions.
No oral agreements or instructions to the contrary shall be recognized or enforceable.
This Agreement together with all references to iBex Markets’ policies and procedures made in this Agreement, and together with the Risk Disclosure Statement, Trading Conditions and Charges and Privacy Statement embodies the entire agreement between iBex Markets and the Customer, superseding any and all prior written and oral agreements.
Client may not assign or transfer any of its rights or obligations under this Agreement to a third party without the prior written consent of iBex Markets. Any attempted assignment or transfer in violation of the foregoing will be void. iBex Markets may freely assign this Agreement.
Governing Law And Jurisdiction
This Agreement, the rights and obligations of the parties hereto, and any judicial or administrative action or proceeding arising directly or indirectly hereunder or in connection with the transactions contemplated hereby shall be governed by, construed and enforced in all respects in accordance with the laws of England and iBex Markets and the Client hereby irrevocably submit to the non-exclusive jurisdiction of the English Courts.
Ibexmarkets.com is owned and operated by Tristant LTD. Tristant LTD, is registered as a Financial Consulting firm with the registration number 12359755.
Client hereby ratifies all transactions with iBex Markets affected prior to the date of this Agreement, and agrees that the rights and obligations of Client in respect thereto shall be governed by the terms of this Agreement.
Client acknowledges having received, read and understood the foregoing customer agreement and hereby agrees to be bound by all of the terms and conditions hereof.