- INTRODUCTION
1.1 This Agreement is entered into by and between the following parties:
ZENON CONSULTATING LTD, with registration No………………..registered in Saint Vincent (hereinafter referred to as the “Company” or “us” or “we”), on the one part, and the Client who will register for a trading account with the Company (hereinafter referred to as “you”), on the other part.
and set out the terms and conditions under which the provision of Investment Services will be provided.
1.2 This Agreement sets out the basis on which we will provide services to you. This Agreement governs each Transaction entered into or outstanding between us on or after the execution of this Agreement.
1.3 These Terms and Conditions including Legal Documentation shall commence application once the prospective Client initiates business relationship with the Company by accepting and agreeing to all abovementioned documents.
1.4 This Agreement supersedes any previous agreement between you and us on the same subject matter and takes effect when you indicate your acceptance via our website. This Agreement shall apply to all Transactions contemplated under this Agreement.
- ACCEPTANCE OF THE POLICIES OF THE COMPANY
2.1 By accepting this Agreement, you agree and consent to the terms and conditions contained in this Agreement, as well as other legal documentation and/or information of the Website of the Company, in addition to the following documents “Risk Disclosure”, “Privacy Policy”, “Refund and Return Policy” and “AML Policy”.
2.2 You accept this Agreement by registering a Trading Account on the website. By accepting the Agreement and subject to the Company’s final approval, you enter into a legal and binding agreement with the Company.
- COMMUNICATION WITH US
3.1 The language of communications shall be English, and you will receive documents and other information from us in English. However, where appropriate and for your convenience, we will endeavour to communicate with you in other languages. Our website contains further details about us and our services, and other information relevant to this Agreement. In the event of any conflict between the terms of this Agreement and our website, this Agreement will prevail.
3.2 You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone).
Our Conduct Details
- Name: ZENON CONSULTAING LTD
- Postal Address: ………………..
- Telephone No: …………………..
- Fax No: ……………………………
- Email Address: ………………..
- LEGAL AGE
4.1 The Company’s services and products traded are only available to individuals who are at least 18 years old (and at least the legal age in your jurisdiction). You represent and warrant that if you are an individual, you are at least 18 years old and of legal age in your jurisdiction to form a binding contract, and that all registration information you submit is accurate and truthful.
4.2 The Company reserves the right to ask for proof of age from you and your account may be suspended until satisfactory proof of age is provided. The Company may, in its sole discretion, refuse to offer its products and services to any person or entity and change its eligibility criteria at any time.
- GENERAL INTERPRETATION
5.1 A reference in this Agreement to a “clause” or “Schedule” shall be construed as a reference to, respectively, a clause of this Agreement or a material change in our website, unless the context requires otherwise. References in this Agreement to any statute or statutory instrument or Applicable Regulations include any modification, amendment, extension or re-enactment thereof.
5.2 A reference in this Agreement to “Document” shall be construed to include any electronic document. The masculine includes the feminine and the neuter and the singular includes the plural and vice versa as the context admits or requires.
- HEADINGS
6.1 Headings are for ease of reference only and do not form part of this Agreement.
- RIGHT TO CANCEL
7.1 You have a right to cancel this Agreement within a period of fourteen (14) days commencing on the date on which this Agreement is concluded or the date on which you receive this Agreement (whichever is later) (the “Cancellation Period”). Should you wish to cancel this Agreement within the Cancellation Period, you should send notice in writing or electronically to the addresses found in contact us section of our website. Cancelling this Agreement within the Cancellation Period will not cancel any Transaction entered into by you during the Cancellation Period. If you fail to cancel this Agreement within the Cancellation Period, you will be bound by its terms, but you may terminate this Agreement in accordance with the provisions of this Agreement.
- REGULATION
8.1 This Agreement and all Transactions are subject to Applicable Regulations so that:
i. Nothing in this Agreement shall exclude or restrict any obligation which we have to you under Applicable Regulations;
ii. we may take or omit to take any action we consider necessary to ensure compliance with any Applicable Regulations;
iii. all Applicable Regulations and whatever we do or fail to do in order to comply with them will be binding on you; and
iv. such actions that we take or fail to take for the purpose of compliance with any Applicable Regulations shall not render us or any of our directors, officers, employees or agents liable.
- ACTION BY REGULATORY BODY
9.1 Where applicable If a regulatory body takes any action which affects a Transaction, then we may take any action which we, in our reasonable discretion, consider desirable to correspond with such action or to mitigate any loss incurred as a result of such action. Any such action shall be binding on you. In such a case you will immediately be informed by the Company if such action may affect your transactions. If a regulatory body makes an enquiry in respect of any of your Transactions, you agree to co-operate with us and to promptly supply information requested in connection with the enquiry.
- ONBOARDING PROCEDURE
10.1 If you wish to open an account with us you need first to visit the following page http://marketstallion.com/index.php/open-an-account/ and provide us with your basic information. We will then send you the accounting opening form in your email.
- ACCOUNT ACTIVATION
11.1 The Client’s Trading Account will be activated by us as soon as:
a) The Company has received completed and successful registration form.
b) The Potential Client has accepted all policies of the Company.
c) The Company is satisfied with the KYC documentation provided by the Potential Client.
11.2 The Company has the right to request minimum initial deposit to allow the Client to start using his trading account.
11.3 The Company reserves the right to reject any application for whatever reason without giving any explanation to the potential client.
- PRODUCTS
12.1 The Company provides the following FOREX Currency Pairs:
o EUR/USD
o EUR/GBP
o USD/GBP
o USD/CHF
o AUD/USD
o USD/CAD
- LEVERAGE
13.1 The Company provides maximum leverage 1:00.
- COST, PAYMENTS AND CHARGES
14.1 Charges
You shall pay our charges and/or any fees and interest on any amount due to us at the rates charged by us. Any alteration to charges will be notified to you before the time of the change.
14.2 Payments
All payments to us under this Agreement shall be made in such currency as we may from time to time specify to the bank account designated by us for such purposes. All such payments shall be made by you without any deduction or withholding.
- CLIENTS ACCOUNTS AND INITIAL DEPOSITS
15.1 Before you can place an order with the Company, you must read and accept this Agreement including the Risk Disclosure Statement of the Company. In addition, you must deposit sufficient clear funds in your account and all accompanying documents must be approved by the Company. Upon the approval of your registration, you will be notified by e-mail.
15.2 The Company may, in its sole discretion, request that in addition to online acceptance of this Agreement, Client must complete and submit any signed documents so required by the Company, including but not limited to this Agreement and the Risk Disclosure Statement.
- CURRENCY OF ACCOUNTS
16.1 You will be able to open your trading Account(s) in USD or any currency that maybe offered by the Company. Account(s) balances will be calculated and reported to you in the currency in which Account(s) are maintained.
- DISABLING AND CANCELLING OF DEPOSITS
17.1 We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances:
i. if you fail to provide the Company with any documents it requests from you either for client identification and/or verification purposes or for any other reason which may render the Company liable.
ii. if the Company suspects or has concerns that the submitted documents may be false or fake;
iii. if the Company suspects that you are involved in illegal or fraudulent activity;
iv. if the Company is informed that your credit or debit card (or any other paymentmethoused) has been lost or stolen;
v. where the Company considers that there is a charge back risk; and/or
vi. when you deposit $10,000 or more or if you make over 10 separate deposits to your trading Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used.
17.2 case of cancelled deposits, and if there is not a confiscation of your funds by a supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received.
- VERIFICATION
18.1 Verification details should be requested covering true name or names used, current permanent address and verification of signature. Alternatively, verification correspondence from a known (verifiable) organization authority (e.g. University, Lawyers’ Association, Tax Authority) shall suffice. The latter also applies for prospective Clients wishing to open an account by post where verification by passport or national identity card is not practicable.
18.2 The Company shall have the duty, for every Client, to make all reasonable effort so as to obtain complete information, via the use of Know-Your-Client Questionnaires which the prospective Client must complete, not limited to the following:
- Client’s identity or passport
- Client’s residential address
- Client’s financial information
18.3 The following information should be obtained from prospective Clients:
- True name and/or names used
- current permanent address, including postal code
- email address
- telephone (landline and mobile) and fax numbers
- date and place of birth
- nationality
- profession or occupation
- purpose of opening investment services account with the Company
- estimated levels of turnover from the account and the source of funds
- international passport or ID number
18.4 The Company shall retain a copy of the Client’s international passport/identity card. Determining the validity of the documents received depends on assessment of the officer receiving the documents.
18.5 The Company reserves the right to request any other document considers necessary for the verification of the documents provided by you upon commencement of the business relationship and on an going basis of the business relationship.
18.6 It is important that the current permanent address must be verified. Any of the following could be requested:
- local authority tax bill;
- utility bill showing the client’s residential address issued within the last 3 months (for example land-line phone, water, electricity);
- bank statement (current, deposit or credit card account);
- checking a Telephone directory;
- lease or mortgage agreement;
- letter from a reputable bank confirming the address of the respective person;
- police records/certificates;
- driving licence;
- confirmation from the embassies.
18.7 Care should be taken to check that the documents offered are originals, or certified true copies. The name on the document (e.g. utility bill), full address and name of the company issuing the document should all be clearly visible. A copy of the documentation presented should be retained.
- INACTIVE AND DORMANT ACCOUNT
19.1 The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has:
- not placed a trade;
- opened or closed positions; and/or
- made a deposit into the Clients trading account;
for a period of 90 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”).
19.2 Where the Client has and continues to:
- place a trade;
- open or close positions; and/or
- made a deposit into the Clients trading account;
the account shall be classified by the Company as an Active Account (“Active Account”)
19.3 The Client further acknowledges and confirms that such Inactive Accounts will be subject to a monthly charge of $5, relating to the maintenance/administration of such Inactive Accounts. The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (“Dormant Account”). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client’s wish to reactivate the Dormant Account. The Client’s Dormant Account will then be reactivated (subject to, if required, up-to-date Know Your Client documentation provided to the Company by Client) and become an Active Account. However, where the Client has not done the following with the Active Account:
- place a trade;
- open or close positions; and/or
- made a deposit into the Clients trading account;
for a period of 90 days and more, then this account will once again become a Dormant Account.
- REPRESENTATIONS, WARRANTIES AND COVENANTS
20.1 You represent and warrant to us on the date this Agreement comes into effect and as of the date of each Transaction that:
- If you are a natural person, you are of legal age and you have full legal capacity to enter into this Agreement;
- If you are not a natural person, you are duly organized, constituted and validly existing under the applicable laws of the jurisdiction in which you are constituted; execution and delivery of this Agreement, all Transactions and the performance of all obligations contemplated under this Agreement have been duly authorized by you; and
- each natural person executing and delivering this Agreement on your behalf, entering Transactions and the performance of all obligations contemplated under this Agreement have been duly authorized by you and have been disclosed to us providing all the necessary information and/or documentation.
- You have all necessary authority, powers, consents, licences and authorisations and have taken all necessary action to enable you lawfully to enter into and perform this Agreement and such Transaction and to grant the security interests and powers referred to in this Agreement;
- the persons entering into this Agreement and to each Transaction on your behalf, have been duly authorised to do so, and are disclosed to us giving details of the relationship with you by providing all necessary information and/or documentation;
- this Agreement, each Transaction and the obligations created under them both are binding upon you and enforceable against you in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of any regulation, order, charge or agreement by which you are bound;
- you act as principal and sole beneficial owner(but not as trustee)in entering into this Agreement and each Transaction and in case you wish to open, either in the present time or in the future, more than one accounts with the Company either as individual client(natural person)or as the beneficial owner of a corporate client(legal person)it is required to immediately disclose to us that you are the beneficial owner of the account(s) during the account opening procedure and to provide us with the necessary information and/or documentation regarding the relationship between the natural and/or legal person(s);
- any information which you provide or have provided to us in respect of your financial position, domicile or other matters is accurate and not misleading in any material respect;
- you are willing and financially able to sustain a total loss of funds resulting from Transactions and trading in such Transactions is a suitable investment for you; and
- except as otherwise agreed by us, you are the sole beneficial owner of all margin you transfer under this Agreement, free and clear of any security interest whatsoever other than a lien routinely imposed on all securities in a clearing system in which such securities may be held.
You covenant to us:
- you will at all times obtain and comply and do all that is necessary to maintain in full force and effect, all authority, powers, consents, licenses and authorizations referred to in this clause.
- you will use all reasonable steps to comply with all Applicable Regulations in relation to this Agreement and any Transaction, so far as they are applicable to you or us;
- you will not send orders or otherwise take any action that could create a false impression of the demand or value for a financial instrument. Nor will you send orders which we have reason to believe are in breach of Applicable Regulations or by taking advantage of the account(s)you may maintain with the Company could be considered as system abusive orders, including but not limited to one’s intention to benefit from delays in the prices, to trade at off-market prices and/or outside trading hours and to abuse the system for trading at manipulated prices; and
- upon demand, you will provide us with such information as we may reasonably require to evidence the matters referred to in this clause or to comply with any Applicable Regulations.
- EXCLUSIONS, LIMITATIONS AND INDEMNITY
21.1 General Exclusion
Neither we nor our directors, officers, employees, or agents shall be liable for any losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under this Agreement (including any Transaction or where we have declined to enter into a proposed Transaction), unless such loss is a reasonably foreseeable consequence or arises directly from our or their respective gross negligence, wilful default or fraud. In no circumstance, shall we have liability for losses suffered by you or any third party for any special or consequential damage, loss of profits, loss of good will or loss of business opportunity arising under or in connection with this Agreement, whether arising out of negligence, breach of contract, misrepresentation or otherwise.
21.2 Changes in the market
Market orders are executed at the bid/ask prices offered through us. Pending orders (stop loss, limit (take profit), entry limit (to buy or to sell), entry stop (to buy or to sell) are executed at the market price requested by you and offered through us. We reserve the right, at our full discretion, not to execute the order, or to change the quoted price of the Transaction, or to offer you a new quote, in case of technical failure of the trading platform or in case of extraordinary or abnormal fluctuations of the price of the financial instrument as offered in the market. In the event we offer you a new quote you have the right to either accept it or refuse it, and thus cancel the execution of the Transaction.
Without limitation, we do not accept any liability by reason of any delay or change in market conditions before any particular Transaction is affected.
21.3 Limitation of Liability
We shall not be liable to you for any partial or non-performance of our obligations hereunder by reason of any cause beyond our reasonable control, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or principal of our custodian, sub-custodian, dealer, exchange, clearing house or regulatory or self-regulatory organisation, for any reason, to perform its obligations. Nothing in this Agreement will exclude or restrict any duty or liability we may have to you under Applicable Regulations, which may not be excluded or restricted thereunder.
21.4 Indemnity
You shall pay to us such sums as we may from time to time require in or towards satisfaction of any debit balance on any of your accounts with us and, on a full indemnity basis, any losses, Liabilities, costs or expenses (including legal fees), taxes, imposts and levies which we may incur or be subjected to with respect to any of your accounts or any Transaction or as a result of any misrepresentation by you or any violation by you of your obligations under this Agreement (including any Transaction) or by the enforcement of our rights.
- MISCELLANEOUS
22.1 Amendments
We have the right to amend the terms of this Agreement. If we make any material change to this Agreement, we will give at least ten (10) business days’ written notice to you. Such amendment will become effective on the date specified in the notice. Unless otherwise agreed, an amendment will not affect any outstanding order or Transaction or any legal rights or obligations which may already have arisen.
22.2 Notices
Unless otherwise agreed, all notices, instructions and other communications to be given by us under this Agreement shall be given to the address or fax number provided by you to us. Likewise, all notices, instructions and other communications to be given by you under this Agreement shall be given to us in writing at the address below:
You will notify us of any change of your address for the receipt of notices, instructions and other communications immediately.
22.3 Electronic Communications
Subject to Applicable Regulations, any communication between us using electronic signatures and any communications via our website and/or Electronic Services shall be binding as if they were in writing. Orders or instructions given to you via e-mail or other electronic means will constitute evidence of the orders or instructions given.
22.4 Recording of calls
We may record telephone conversations without use of a warning tone to ensure that the material terms of the Transaction, and any other material information relating to the Transaction is promptly and accurately recorded. Such records will be our sole property and accepted by you as evidence of the orders or instructions given.
22.5 Our records
Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with our services. You will not object to the admission of our records as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request at our absolute discretion.
22.6 Your records
You agree to keep adequate records in accordance with Applicable Regulations to demonstrate the nature of orders submitted and the time at which such orders are submitted. You can access your statements online at any time via our trading platform. You may request to receive your statement monthly or quarterly via email, by providing such a request to the support department.
22.7 Time of essence
Time shall be of the essence in respect of all obligations of yours under this Agreement (including any Transaction).
22.8 Rights and remedies
The rights and remedies provided under this Agreement are cumulative and not exclusive of those provided by law. We shall be under no obligation to exercise any right or remedy either at all or in a manner or at a time beneficial to you. No failure by us to exercise or delay by us in exercising any of our rights under this Agreement (including any Transaction) or otherwise shall operate as a waiver of those or any other rights or remedies. No single or partial exercise of a right or remedy shall prevent further exercise of that right or remedy or the exercise of another right or remedy.
22.9 Partial invalidity
If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.
- PROCESSING OF PERSONAL DATA
23.1 You must read and acknowledge the Privacy Policy of the Company available online.
- GOVERNING LAW AND JURISDICTION
24.1 This Agreement shall be governed by and construed in accordance with the Saint Vincent and the Grenadines
