AXE CAPITAL Ltd. (hereinafter referred to as AXE CAPITAL) and a personal or entity that has signed this Agreement and has filled in the registration form (hereinafter referred to as the User), together referred to as Partie, entered into this Agreement (hereinafter referred to as the
This Agreement specifies the conditions underneath that AXE CAPITAL shall give the services to the User associated with running operations on financial markets.
The present Agreement specifies the conditions underneath that AXE CAPITAL shall give the
services to the User associated with making operations on financial markets.
1.1. “Account history” – a full list of all completed transactions and non-trading operations made on a live account.
1.2. “Active account” is that the User trading account, wherever amount of the performed market lots (1 market lot is corresponding to ten AXE CAPITAL lots) for the accounting amount exceeds 0.2% of the common equity denominated in USD. For a USD1,000 account the lot amount is two market lots or twenty AXE CAPITAL lots. Upon prevalence of opposite trades solely a 1/2 the bolted volume is counted for the amount of accomplished lots.
1.3. “Adviser” – a trading account management formula within the type of a program supported MetaQuotes Language 4. This program sends requests and orders to a server applying the User terminal.
1.4. “Arbitrage” – a trading strategy that uses “Arbitrage transactions”.
1.5. “Arbitrage transaction” – associate operation once associate plus is bought on one market and at a similar moment an identical plus is sold-out on a special market. This worth distinction is fastened on numerous exchange markets. it’s simply discovered, that the worth of the portfolio remains virtually unchanged in spite of the market movements (as the alternative trades offset every other). once the value distinction changes to a positive aspect, the alternative arbitrage dealings of fixing profit is made. Associate arbitrage dealings is additionally a dealings conducted on one and therefore the same market over an exact amount of your time on the condition that a substantial value gap between the quotes seems at the instant of trade starting or closing.
1.6. “Ask” – the very best value within the try at which the User buys the currency.
1.7. “Balance” – mixture money results of all completed transactions and non-trading operations of a trading account.
1.8. “Base currency” – the primary currency quoted in a very currency try, that the User should buy or sell at the value of the quote currency.
1.9. “Bid” – the tiniest worth within the currency try charge per unit quote. The User sells at price.
1.10. “Bonus funds” – funds received by the User as a part of bonus programs and contests, command by AXE CAPITAL.
1.11. “Equity” is that the accounting balance, calculated consistent with the formula: balance + floating profit – floating loss.
1.12. “Candlestick bar” is a part of the chart, which has open and shut costs, further as most and minimum costs for an exact amount of your time (1 minute, 5 minutes, an hour, 24 hours, a week etc.).
1.13. “Client” may be a legal body or physical party that has accepted this Agreement with the Dealer (AXE CAPITAL) so as to run operations underneath the terms of margin trading, and who has enrolled into into a Client terminal rental contract with AXE CAPITAL .
1.14. “Client terminal” may be a MetaTrader 4.xx software, that lets the User get info on money market trades within the real time mode (quantity outlined by AXE CAPITAL ), perform technical analysis of markets, perform trades, set/change/cancel orders and receive messages from the Dealer and therefore AXE CAPITAL . It are often freely accessed at AXE CAPITAL webpage (https://axecapital.systems/).
1.15. “Client log file” – a file created by the User terminal, that records all enquires and orders sent from Client to the Dealer with a 1-second accuracy.
1.16. “Closed position” – the results of the second a part of the finished closed dealings.
1.17. “Completed position” consists of 2 opposite operations of equal size (open and shut position): shopping for followed by commercialism or commercialism followed by shopping for.
1.18. “Contract for difference” (CFD) – a trading operation item supported changes of the idea plus rate (i.e. the plus being the topic of the CFD), together with stocks, futures, commodities, precious metals, index etc.
1.19. “Contract specification” – the most trading conditions (such as unfold, lot size, bottom trade volume, changes in trade volume, initial margin, lock etc.) for every instrument. As of the date of phraseology this Agreement, the data is obtainable at https://axecapital.systems/.
1.20. “Currency pair” may be a unit of trade operation grounded on the value modification of one currency versus another currency.
1.21. “Dealer” is:
1.21.1. a company, that the User entered into agreement with, control the legislative base of making trade operations underneath the conditions of marginal trading.
1.21.2. a worker of this company which deals with playacting orders of the User, together with orders’ execution, stop out and margin calls (in the text of this Agreement written lower-case letters).
1.22. “Developer” – MetaQuotes software package business firm., the developer of the trading platform.
1.23. “Disputable issue” is:
1.23.1 a scenario wherever the User assumes that the Dealer has desecrated one or a lot of conditions of this Agreement as a results of its activity or inactivity;
1.23.2 a scenario once the Dealer assumes that the User has desecrated one or a lot of conditions of this Agreement as a results of his activity or inactivity.
1.24. “Enquiry” – the User instruction sent to the Dealer to get a currency quote. an exploration doesn’t imply the User’s obligation to open a trade.
1.25. “Fast market” may be a condition of the market that is characterised by sudden currency rate changes throughout a brief amount of your time and infrequently followed by worth gaps. Sometimes it happens right before and/or subsequently one or a series of events:
1.25.1. publication of economic indicators of the G7 members (the eight leading industrial countries, i.e. the USA, Germany, Japan, France, the UK, Canada, Italy), includes a high degree of influence on the money markets;
1.25.2. key interest rates’ announcements created by central banks and their committees;
1.25.3. speeches or press conferences of financial organisation governors, finance ministers and of the G7 countries’ presidents;
1.25.4. interventions of governments in currency markets;
1.25.5. terrorist acts of a national (governmental) importance;
1.25.4. natural disasters that caused announcement of the state emergency (or of the figurative restrictive measures) inside the affected territories;
1.25.5. outbreak of war or military actions;
1.25.6. political force major events like resignations, appointments or inaugurations (including election results) of arm of governments;
1.25.7. other conditions that influence on the dynamics of the currency rate.
1.26. “Floating profit/loss” – unfixed profit/loss of all open trades at this exchange rates current moment.
1.27. “Force majeure circumstances” – occurrences that couldn’t be predicted or prevented. Such as:
1.27.1. natural disasters;
1.27.2. military conflicts;
1.27.3. terrorist attacks;
1.27.4. actions of government authority;
1.27.5. hacker attacks and different unlawful acts toward servers.
1.28. “Free margin” – funds on a trading account that may be used for starting new trades. The calculation formula: equity – margin.
1.29. “Graph” (chart) may be a flow of quotes illustrated diagrammatically. It shows the maximum high of any bar/candlestick, which is the highest Bid over a period; the low or minimum Bid; the shut value or last Bid of any bar/candlestick; and therefore the open velue or initial Bid of any bar/candlestick.
1.30. “Hedged margin” – a guarantee money cowl needed by the Dealer for gap and maintaining trades. for each instrument, it’s indicated individually in Specifications.
1.31. “Initial margin” – the desired by the Dealer money protect gap a trade. for every instrument the worth is indicated in Specifications.
1.32. ” AXE CAPITAL web site” is that the official web site of AXE CAPITAL broker obtainable at the subsequent website address: https://axecapital.systems/
1.33. “Instrument” – a currency try or CFD (contract for difference).
1.34. “Leverage” – the quantitative relation of a coated total utilized in a trade to the amount of the trade: 1:100, 1:200. Leverage 1:200 means so as to open a trade it’s necessary to possess a trading account with the deposit total, that is two hundred times but the total of the trade to be opened.
1.35. “Lock” – long and short positions of a similar volume that were opened for a similar instrument on a similar account.
1.36. “Lock margin” may be a cowl total, needed by the Dealer so as to open and maintain lock positions. for each instrument it’s indicated in Specifications.
1.37. “Long” – shopping for associate instrument hoping that the speed can increase. In reference to the currency try, it’s buying the bottom currency applying the quote currency.
1.38. “Lot” – a unit to live the amount of shares, commodities, base currency, that is employed in a very trading platform.
1.39. “Lot size” – the amount of assets, commodities, base currency per one lot, outlined in Specifications.
1.40. “Margin level” – the quantitative relation of equity to necessary margin (in per cent), calculated consistent with the formula: (equity/margin)*100%.
1.41. “Margin call” – a state of the trading account once the Dealer includes a right however isn’t duty-bound to shut all open trades of the User due to light funds (free margin). Margin level, whereupon “margin call” scenario arises; is indicated within the gift Agreement.
1.42. “Margin trading” – trading with the employment of leverage; a Client is ready to open trades that worth is far above the utilized in a trade personal funds of the User.
1.43. “Market open” – begin of trading sessions when weekend, holidays or when a amount between trading sessions.
1.44. “Necessary margin” – quantity of cash needed for maintaining open positions. it’s indicated on the Contract specifications page.
1.45. “Non-trading operation” – the operation of topping up a trading account (or retreating cash from the trading account) or the operation of allocating (returning) the credit.
1.46. “Normal market conditions” – the condition of the market when:
1.46.1. there aren’t any vital stops in delivery of quotes to a trading platform;
1.46.2. there is no speeding worth dynamics;
1.46.3. there aren’t any substantial worth gaps.
1.47. “Normal market” – see “Normal market conditions”.
1.48. “Obvious error” – the Dealer’s opening/closing the User’s positions or execution any orders at costs, that greatly dissent from the value of the instrument within the quoting flow at the instant of execution. Or another Dealer activity or inactivity associated with wrong analysis of market costs at an exact moment of your time.
1.49. “Opening gap” may be a scenario once one in every of the subsequent statements is true:
1.49.1. Bid of the market open is above raise at market close;
1.49.2. Ask at market open is under Bid at market shut.
1.50. “Order” – the User directions sent to the Dealer to open/close a trade once worth reaches the order level, or to put, delete or modification the order level.
1.51. “Order level” – the value indicated within the order.
1.52. “Open position” is that the results of the primary a part of a completely completed dealings. Once open a position, the User undertakes the subsequent obligations:
1.52.1. to conduct the second part of the transactions (buy/sell) of a equal size;
1.52.2. to maintain equity not under half-hour of the mandatory margin.
1.53. “Pending order” – the User requests the Dealer to open a trade once worth has reached the order level.
1.54. “Pips” – the tiniest unit of worth for any foreign currency. conjointly referred to as “points”.
1.55. “Price prior non-market quoting” may be a shut worth of a moment bar, before non-market minute bar quote.
1.56. “Price gap” – either of the subsequent situations:
1.56.1. the present Bid is above the previous Ask;
1.56.2. the present Ask is under the previous Bid.
1.57. “Quote currency” is the second currency in the currency pair symbol that is used by the Customer for selling or buying the base currency.
1.58. “Quotes data base” – info regarding all quotes of currencies.
1.59. “Quoting” is the method of providing the streaming real-time currency quotes to the User so as to conduct a trade.
1.60. “Rate” –
1.60.1. for currency pair: base currency unit worth expressed in terms of quote currency;
1.60.2. for CFD: base asset unit worth expressed in terms of cash.
1.61. “Real deposit” may be a distinction between deposits and withdrawals at the User trading account for the coverage amount.
1.62. “Server log file” may be a file created by the server, that records all requests and orders received by the Dealer from the User, together with the process result, with 1-second accuracy.
1.63. “Server” is wares of MetaTrader Server 4.xx that processes the Users’ orders and requests, provides info regarding money market trades in time period mode (quantity outlined by AXE CAPITAL ), taking under consideration mutual obligations between the User and therefore the Dealer, and adherence to the conditions and restrictions.
1.64. “Short position” – commercialism the instrument with a read to the speed decline. With regard to currency pairs: once the bottom currency is sold-out applying the quote currency.
1.65. “Spike” – the value quote that meets the subsequent conditions:
1.65.1. there is a substantial worth gap;
1.65.2. a short-run worth returns to the initial level making a worth gap;
1.65.3. no speeding worth dynamics before this worth quote;
1.65.4. no political economy events and/or company news perceptibly influencing on the instrument worth at the instant of this quote escape.
AXE CAPITAL has the proper to get rid of info that issues non-market quote (Spike) from the quotes information base of the server.
1.66. “Spread” – the distinction between Bid and raise (in pips).
1.67. “Streaming time period quotes” – a series of quotes for each instrument foreign to and seen in a very trading platform, the mechanism of providing quotes to the User by the Dealer, visible within the time period mode, applying which the User is ready to send associate order to the Dealer to conduct a trade at each moment.
1.68. “Stop out” – forced order to shut a position generated by the server.
1.69. “Swap” – a payment taken for carrying associate open position nightlong. It are often either positive or negative. A chart, process swap values for every instrument, are often found at AXE CAPITAL official web site. At the instant of this Agreement revision, the data was obtainable at https://axecapital.systems/.
1.70. “Trailing stop” is the stop loss (SL) order management algorithm:
1.70.1. if associate open position profit doesn’t exceed the trailing stop level, don’t take any actions;
1.70.2. as before long because the open position profit exceeds the trailing stop level, send associate order to the server predominate the SL order by a distance that equals the trailing stop worth of this price;
1.70.3. as before long because the interval between the SL order and therefore the quote exceeds the trailing stop, the server can modification the order level, so the gap between the order and current worth is capable the trailing stop.
1.70.4. The trailing stop works once the User terminal is launched, connected to the net and with success licensed by the server.
1.71. “Thin market” – a state of the market, once there are less quotes than unremarkably foreign within the trading platform for a substantial amount of your time. As a rule, this sort of the market condition happens throughout Christmas holidays, national holidays in G7 countries and between 23:00 p.m. – 3:00 a.m. (GMT+2) etc.
1.72. “Ticket” – a singular number assigned to position or unfinished order in a very trading platform.
1.73. “Trailing stop value” – the worth of the parameter “trailing stop”, set by the User.
1.74. “Trading platform time” – the zone during which the events registered within the server log file occur. At the instant of this Agreement publication it’s GMT+2.
1.75. “Trading operation size” – the amount of lots increased by the lot size.
1.76. “Market conditions that dissent from traditional ones” – skinny market or quick market.
1.77. “Trading operation/trade” is purchasing/selling the instrument disbursed by the User.
1.78. “Trading platform/terminal” – a group of software package and technical facilities that supports receiving info on trading carried on financial markets in real-time mode, conducts operations, takes under consideration mutual obligations between the User and therefore the Dealer, and enforces observing conditions and restrictions. In simplified kind for the needs of this Agreement consists of the “Server” and therefore the “Client terminal”.
1.79. “Trading account” – distinctive customized log of all operations recorded on the trding platform, wherever completed closed transactions, opened positions, non-market operations and orders are mirrored.
2.1. Definition of AXE CAPITAL services.
2.1.1. AXE CAPITAL services are all interactive programs or services offered by AXE CAPITAL, that build it attainable for the User to:
– get connected with AXE CAPITAL or with a licensed third-party service provider;
– receive info and quotes from AXE CAPITAL or from a licensed third-party service provider;
– conduct trades on financial markets through AXE CAPITAL trading terminal MetaTrader 4.0 (software program) which has electronic information transfer that the User submits to AXE CAPITAL employing a laptop computer connected by electronic equipment or the other device to access the file transfer network assigned by AXE CAPITAL.
2.1.2. By signing this Agreement the User acknowledges obtaining familiarised with the foundations of communication and agrees that the User will provide directions solely by phonephone or the User trading terminal.
2.1.3. The services of AXE CAPITAL embrace info software package set “MetaTrader 4.0”, means that of technical analysis and services of knowledge provision by the third party, offered beside the services of AXE CAPITAL.
2.1.4. The User acknowledges that AXE CAPITAL reserves the proper to alter, add, rename or leave unmoved AXE CAPITAL services that are offered in terms of this Agreement with none previous notice. The User conjointly acknowledges that the Agreement is applicable to services, which might be modified, intercalary or renamed in future additionally to the services that are provided to the User presently. The User acknowledges that choices trading is regulated conjointly by the Binary choices Agreement.
2.1.5. In relevancy the User trades, AXE CAPITAL simply executes the User orders while not providing trust management or recommendations. AXE CAPITAL executes the User enquires or orders in spite of a trade character, notwithstanding they’re non-beneficial for the User.
2.1.6. But for the cases represented within the gift Agreement, AXE CAPITAL isn’t duty-bound to:
– monitor and advise the User regarding the trade status;
– shut a Client open position;
– build tries to execute the User order applying the quotes, that dissent from the quotes displayed within the “MetaTrader 4.0” trading platform.
2.1.7. AXE CAPITAL services exclude providing recommendations and knowledge to inspire the User to conduct operations. In some cases, AXE CAPITAL reserves the proper to offer info, recommendations and recommendation to the User; during this case AXE CAPITAL bears no responsibility relating to the result and effectiveness of such actions. AXE CAPITAL reserves the proper to cancel or shut any Client position in terms of conditions that are regulated by this Agreement. All trades conducted by the User as a results of inaccurate info or miscalculation, are to be upheld by each parties, the User and therefore AXE CAPITAL.
3.1. Processing Client orders.
3.1.1. For running trades the “Axe Execution” quoting mechanism is employed.
3.1.2. Client enquiries and orders are processed consistent with the subsequent scheme:
– the User makes an exploration or associate order, that correctness is checked, within the User terminal;
– the User terminal forwards the enquiry or order to the server;
– the server receives the User order and checks its correctness; then the trading terminal shows the message “request was accepted by server”;
– once the User enquiry or order has been processed, the server sends the result back to the User trading terminal;
– as long as there’s uninterrupted association between the User terminal and therefore the server, the User terminal receives the results of the enquiry or order execution result from the Dealer.
3.1.3. The User can arrange to cancel the sooner sent request (which is queued); notwithstanding, AXE CAPITAL cannot guarantee the success of this try.
3.1.4. The time, needed to execute an exploration or associate order, depends on the standard of association between the User terminal and therefore AXE CAPITAL server, further as on the market conditions. underneath the traditional market conditions, it always takes regarding 1-5 seconds to method an exploration or associate order. Amid the market conditions that dissent from the traditional ones, the time interval are often extended up to 10-15 seconds.
3.1.5. AXE CAPITAL server will decline the User order in cases as follows:
– at the market gap a “No price” message is received, just in case the User makes an exploration before the primary quote is foreign within the trading platform;
– the User doesn’t have enough funds to open a replacement position;
– market conditions are apart from traditional.
3.2. Trading operations.
Currency is sold-out at Bid price. Currency is bought at Ask price.
3.3. Minimal size of a trade.
3.3.1. For the trading accounts of normal and Eurica sorts with the balance and/or funds within the quantity of USD100,000.00 (one hundred thousand USD) or equivalent in different currency there are often a limitation of the bottom position size within the quantity of one AXE CAPITAL lot (or USD1 per pip). For accounts of USD10,000.00 (ten thousand USD) or equivalent in different currency at AXE CAPITAL’s discretion there are often a limitation of the bottom operation size of 0.1 AXE CAPITAL lot (or USD0.10 per one pip). For trading accounts with the balance of over USD10,000 and over USD100,000 the bottom size of AXE CAPITAL lot are often set proportionately to the balance at AXE CAPITAL’s discretion.
3.3.2. If the sum of the User opened positions exceeds the subsequent sums in base currency, AXE CAPITAL reserves the proper to impose limitations on the supreme leverage.
– for the amounts over USD5,000,000 (five million) to 1:100;
– for the amounts over USD20,000,000 (twenty million) to 1:50.
In some cases, once deals are opened through the ForexCopy system, AXE CAPITAL reserves the proper to account for the entire volume of opened trades on all accounts of followers of a ForexCopy merchant so as to use the same restrictions to those accounts. beside that, the stop out level per clause 3.15 of this Agreement are often modified by 50% for all followers of this merchant.
AXE CAPITAL reserves freedom to impose the above-named restrictions on a selective basis.
3.3.3. For accounts with the balance over one thousand USD the leverage are often down from 1:1000 to 1:600.
3.4.1. In case of no force major circumstances, AXE CAPITAL uses fastened unfold, that is indicated on AXE CAPITAL official web site. To become acquainted with current spreads, please visit: https://axecapital.systems/.
3.4.2. Carrying over a position to future day. Оnce a position passes over to future day, the swap is accumulated for associate open position beginning since 23:59:30. To become acquainted with current swaps, please visit: https://axecapital.systems/. For the night Wed – Thursday, a triple swap is accumulated. Swap is tripled on Fridays on CFDs apart from #SPY and #QQQ.
3.5. Making amendments to trading conditions.
3.5.1. AXE CAPITAL has the proper to alter margin necessities, spreads, the orders’ execution mode and different trading conditions in correlation with national and international holidays, and shall advise the purchasers five operating days beforehand. During this case, all changes are going to be applicable to the already opened trades and new positions.
3.6. Closing CFD positions.
3.6.1. If there are opened positions in a very trading account on a day (or on future day) of the economic statistics publication of the CFD supply company, or the other event, that includes a big impact on the share rate, AXE CAPITAL reserves the freedom a position adopting the last market quote at the trading session close. During this case, there follows a trade reopening at one of the market quotes throughout the primary five minutes after the session opens.
3.7. Opening position.
3.7.1. To open a position, associate order ought to be sent from the User terminal to AXE CAPITAL server. The subsequent order parameters are obligatory:
– position size (in lots).
3.7.2. The list of instruments obtainable for making operations applying “Axe Execution” mode is printed at the official web site of AXE CAPITAL within the section “Trading Instruments” (https://axecapital.systems/).
3.8. AXE CAPITAL is duty-bound to advise the User seven days before any changes in the list of the trading instruments.
3.8.1. To open a Buy/Sell position the User ought to send associate order applying the User terminal.
-To open a obtain position within the order window of the User terminal the User ought to click “Buy”, whereupon the order is distributed to the server.
-To open a Sell position within the order window of the User terminal a Sell tab ought to be clicked, whereupon the order is distributed to the server.
3.9. Executing Client orders to open a position.
3.9.1. If the scale of free margin is enough to open a position, the position shall be opened. a replacement free margin level shall be adjusted automatically.
3.9.2. In case the scale of the free margin is light to open a position, the position shall not be opened and a message regarding light funds shall seem within the order window.
3.9.3. If at the instant of the User order or enquiry execution by the server the quote changes, the server shall provide a replacement Bid/Ask price. During this case a replacement window “Requote” shall seem with new costs. If the User agrees to conduct the operation at freshly offered quotes, the “OK” tab ought to be clicked in “Requote” window inside three seconds.
3.9.4. The User order to open a position is taken into account to be executed, and therefore the position to be opened, once the corresponding server log file has been updated with a replacement record. Every new position shall receive a ordered price tag variety.
3.10. Closing position.
3.10.1. To close a position within the User terminal the User is duty-bound to point the subsequent parameters:
– the price tag of the position to be closed,
– the scale of the position.
3.10.2. To close a position, the User ought to click the icon “Close position” within the order of the trading terminal.
3.11. Execution of the User orders to shut a position.
3.11.1. If at the instant of the User order/enquiry execution by the server, the quote has modified, the server shall provide a replacement Bid/Ask price. During this case there’ll seem a “Requote” window with new costs. as long as the User agrees to conduct the deal at freshly offered costs, the “OK” icon ought to be clicked inside three seconds.
3.11.2. The User order to shut a position is taken into account as completed, and therefore the position as closed, once a corresponding record within the log file of the server comes out.
3.12. Description of orders, obtainable in AXE CAPITAL trading terminal:
3.12.1. Types of orders:
“Buy Stop” suggests gap a obtain position at a better worth than the particular worth at the instant of the order placing;
“Sell Stop” suggests a sell position gap at a cheaper price than the particular price at the instant of the order placing;
“Buy Limit” suggests gap a obtain position at a cheaper price than the particular price at the instant of the order placing;
“Sell Limit” suggests gap a sell position at a better worth than the particular worth at the instant of the order inserting.
3.12.2. To close the position the subsequent orders are often used:
“Stop Loss” implies closing the sooner opened position at a price, that is a smaller amount profitable for the User if compared to the value at the instant of order placement;
“Take Profit” implies closing associate earlier opened position at a worth, that is a lot of profitable for the User as compared to the value at the instant of the order placement.
The User has the proper to alter and take away any unfinished order if it’s not been activated.
3.13. Execution of orders.
3.13.1. An order is going to be queued for execution within the following cases:
– Sell stop-loss order is queued for execution the instant the price within the streaming quotes becomes lower or capable the order level;
– obtain stop-loss order is queued for execution the instant the raise worth within the streaming quotes hits or exceeds the order level;
– Sell Limit order is queued for execution the instant the price within the streaming quotes hits or exceeds the order level;
– obtain Limit order is queued for execution the instant the raise worth within the streaming quotes becomes lower or capable the order level;
– Take Profit order for open obtain position is queued for execution once the price within the streaming quotes exceeds or equals the order level;
– Stop Loss order for open obtain position triggers, once the price within the streaming quotes drops below or equals the order level;
– Take Profit order for open sell trade triggers, once the raise worth within the streaming quotes drops below or equals the order level;
– Stop Loss order for open sell trade triggers commercialism associate open position, and therefore the raise worth within the quoting flow exceeds or equals the order level.
3.13.2. In cases of value gaps the orders are accomplished consistent with the subsequent rules:
– unfinished orders, wherever the open level and therefore the Take Profit got into a worth gap, are canceled with a comment [canceled/gap];
– Take Profit order the amount of that is inside a worth gap, is executed at the value set by the order;
– Stop Loss order, that is inside the value gap, is executed at the primary received worth following the gap and marked by a comment [sl/gap];
– obtain Stop and Sell Stop unfinished orders are executed at the primary worth received following a worth gap, with [started/gap] showing as a comment;
– obtain Limit and Sell Limit unfinished orders are executed at the set worth and marked by a comment [started/gap].
In some cases, once worth gaps are tiny, orders are often executed in a very customary mode, consistent with the set within the order costs.
When a unfinished order is received for execution and therefore the size of free margin isn’t enough for the order gap, the unfinished order is deleted mechanically with the comment “canceled by dealer”.
3.14. Time of validity and order placement, parameters, rules of inserting orders.
3.14.1. Orders will solely be placed, removed or modified by the User once trading for the chosen instrument is allowed. The trading hours for every instrument are indicated at https://axecapital.systems/.
3.14.2. Placing a unfinished order, the subsequent info ought to be provided by the User:
– the instrument;
– position size (volume);
– order kind (Buy Stop, Sell Stop, Buy Limit, Sell Limit);
– index number at that the order ought to be set.
3.14.3. When an unfinished order tries execution, the server automatically checks the trading account stance to envision if free margin is obtainable. New position is intercalary to the list of open positions; the accumulative Client position and free margin are calculated.
3.14.4. Under traditional market conditions a server executes associate order consistent with the value set while not slippages.
3.14.5. An order is taken into account to be executed once it’s been recorded within the server log file.
3.14.6. The User agrees to bear a supplementary skilled examination of the trading account, if it’s been disclosed that the trading ways of the User embrace gap and closing/opening lock positions with a but 5-minute interval between them. in unison to the results of the supplementary examination AXE CAPITAL reserves the proper to correct the end result of the User’s trading by the sum of such orders.
3.15. Forced closing of positions.
3.15.1. When the User account margin level is a smaller amount than 30%, margin call message triggers. AXE CAPITAL has the power, however, isn’t duty-bound to shut the User position. It’s at AXE CAPITAL’s discretion whether or not to shut the position.
3.15.2. If this trading account state (equity) is a smaller amount than 100 percent of the margin necessary to take care of associate open position, AXE CAPITAL reserves the proper to force a Client position shut while not previous notice.
3.15.3. The server controls the account current condition. just in case conditions represented in Clause 3.15.2 of this Agreement are desecrated, the server shall generate a forced position closing order (stop out). Stop out is executed consistent with the market value in line with the overall Client orders’ queue. Forced shut of a position is recorded within the server log file as a “stop out”.
3.15.4. In case the conditions represented in Clause 3.15.2 of this Agreement are desecrated and therefore the User has many open positions, the position with the very best floating loss are going to be closed initial.
3.15.5. Under traditional market conditions, just in case the last position on a trading account is closed, AXE CAPITAL might give the balance within the vary from 1/3 to 100 percent of the margin needed to take care of this last forcibly closed position. AXE CAPITAL reserves the proper to revive a negative balance on one in every of the User’s accounts at the expense of the funds obtainable on the User’s different trading account.
3.15.6. There might occur a delay in automatic order closing within the method of forced position shut. This delay are often the explanation of closing a position at a a lot of favorable worth than the value at the instant of the induced order closing. The account standing at the instant of the deal closing by “stop out” is mirrored within the comment to the order, wherever per cent of free margin, account balance and margin level are indicated. Closing of the order at the value, that is a lot of profitable for the User than the “stop out” level, can not be thought-about because the reason for a claim on the a part of the User. Closing of the position at the value, that is a smaller amount favorable for a Client than “stop out” level, are often thought-about because the reason of claim on the a part of the User.
3.15.7. By acceptive this Agreement, the Parties have in agreement that market operating time – Monday 00:00 – Friday 23:59 – is shifted doubly a year because of the Europe shift to day-light saving time and the other way around, on the last Sunday of March and therefore the last Sunday of October correspondingly.
3.15.8. The highest volume of deals opened at the same time isn’t restricted. Yet, AXE CAPITAL reserves freedom to impose obligatory restrictions upon the amount of orders opened.
4.1.1. This paragraph shall protect both Company, and Clients against fraud and money laundering as Axe Capital Ltd shall be legally binding on.
4.1.2. Axe Capital Ltd, at its sole decision, might perform withdrawals to financial institution other than the used for the original deposited his account. Axe Capital Ltd shall have the ultimate right to create or close deposit/withdrawal method on the Axe Capital Ltd.’s discretion available on the client area.
4.2. AML security
4.2.1. Only a verified client according to Know Client’s Client policy and AML policy would be presented with trading withdrawal services. Clients shall upload supporting documents according to all steps due AML policy.
4.2.2. While giving withdrawal request, Client shall submit further documentation according to present paragraph as well as by Anti Money Laundering (AML) regulations, Credit/ Debit Card companies, Electronic Payment Providers’ demands and other partner’s norms acting for payments regulation.
Please note that for bank accounts wires, cards that do not show holder name, Axe Capital Ltd may require from a Client documental proof of account ownership, such as a confirmation letter or statement by the issuer.
4.2.3. Please note that it is Axe Capital Ltd.’s ruling: any withdrawals are transacted to the source of the genuine account deposited. If Client have credited account by card, a fund withdrawal shall be performed back to used card. Requests for payments initially made by card to subsequently be paid back to Client’s bank account will be declined. Axe Capital Ltd is not able to process withdrawals to a card number from which Client did not deposit before. A withdrawal to a bank account when initial deposits have been performed by cards may be executed at Axe Capital Ltd.’s discretion. As soon as all previous deposits by card have been withdrawn back to the card used for the deposit, transfer to a bank account may be offered for withdrawal of profits.
4.2.4. If Client have deposited his account with more than one card, the same rule will apply and Client’s withdrawal will be made back to those cards from which Company originally received Client’s payment.
4.3.1. Client shall perform all the deposits from its own source (e.g. single bank account/card account). Client shall be liable for data presenting during payment by Card, SWIFT or other methods. In order to prove that a SWIFT statement is authentic, it has to be sent to Company to confirm the origin of the money, which will be used for trading. If Client don’t comply with this paragraph, he/she be prevented from depositing the money via Bank/Wire Transfer. Please allow up to 5 business days for the deposited funds via Bank/Wire Transfer to appear on trading account. If Client does not login and traded from account within six (6) months (“Dormant Client Account”), the Dormant Client Account will be subject to a deduction of 10 % available funds each month.
4.4.1. According to AML rules, withdrawals shall be executed only through the same bank account or card used to deposit the funds and in the same currency of deposit had been initially made.
4.4.2. If Client deposit or withdraw money for trading purposes using alternative payment methods, he/she ages automatically with any additional fees and restrictions may apply by alternative payment methods. 4.4.3. Withdrawals are subjected to withdrawals processing and handling fees. Those fees will be deducted from the transferred withdrawn amount.
4.5.1. Withdrawals/Deposit shall be stated per standard transaction fee as hereunder:
— 75.00 USD/GBP/EURO for wire transfers;
— 50.00 USD/GBP/EURO for credit cards plus a processing fee of 15.00 USD/EUR/GBP.
4.5.2. A levy of 10% of the payment amount will be charged to any withdrawal from an account that has not executed more than 200K in turnover and/or to any accounts that have not been verified.
4.5.3. Minimum withdrawal for wire transfers is 1550.00 USD/GBP/EURO. Minimum withdrawal on any other method is 200.00 USD/GBP/EURO. Note that these charges exclude the transaction fee imposed; for instance, if a minimum is to be withdrawn by bank wire transfer, a transaction fee of additional 150 USD/GBP/EURO will be charged.
4.5.4. Fees may change depends on the payment methods and/or bank fees by both parties.
4.5.5. Additional Charges: If the receiving bank uses an intermediary bank to send/receive funds, you may incur additional fees charged by the intermediary back, y. In case Client’s financial institution account has different currency of withdrawals being requested by the Client the currency exchange fees are applied according to bank fees and have no information or influence from Company. These charges are usually placed for transmitting the wire for Client’s bank. Please check with Client’s financial institution for more information.
4.6. Withdrawal Request
4.6.1. The withdrawal request shall be made as follows:
• Open a withdrawal request from client area.
• Sent e-mail for withdrawal to card or Print the withdrawal form for wire SWIFT transactions.
• Client Shall log in to account, click on withdrawal, fill up the information and fill up the withdrawal form giving additional confirmation for withdrawal.
• Sign the printed form.
• Sent compliance requested documentation if any to proceed with the withdrawal order.
4.7. Withdrawal/Processing Time
4.7.1. Funds are supposed to be credited to Client’s account within 3-7 working days after initial transaction, depending on Client card provider. Axe Capital Ltd is on its own discretion within 60 minutes might credit bones reflected in the real Client’s account in the amount of initial transaction for service usage before real funds will be wired from cardholder bank to Company’s account in case all Visa MasterCard formalities and 3D secureness would be approved by bank. As soon as real funds would be received, they would be substitute and no difference would be provided to Client other that transactional fees that might be applied by third parties (performing financial institutions).
4.7.2. The time it takes for the money to reach Client’s credit card or bank account that has been used to deposit funds may vary (usually up to five business days). Note that it might take longer for withdrawals to bank accounts due to the additional security procedures in force.
4.7.3. The request will generally be processed by Company within 4-7 business days of receipt. In order to avoid any delays please review Client’s information carefully before submitting Client’s request. Company assumes no responsibility for errors or inaccuracies made by the account holder. Corresponding withdrawals will take 4 to 7 business days to process. Company cannot monitor and is not responsible in any way for the Client’s Credit Card Company or bank’s internal procedures. Client must follow up with the credit card or respective bank independently.
4.7.4. Funds are transacted to Client’s account once Client’s card payment institution has sing out related amount from Company’s bank account. The stated might have place up to 5 banking days or more to be apparent on Client’s card account balance.
4.7.5. Company shall not be liable to any period and that any additional charges imposed by third parties and the last shall be deducted from the deposit or the withdrawal Client’s funds, as applicable.
4.7.6. Company shall take all reliable and legal actions within the aim to process Clients requests for funds withdrawals on the same day of receipt them (or the next business day if receipt is on a non-business day) but shall not make any commitments and be liable for immediate payment.
4.8.1. The Client’s account shall be in US Dollars and any other currency will be converted at the exchange rate existing at the point of conversion within the bank fees for the currency exchange rate in the date of transaction accordingly.
4.8.2. Client’s Account may have different currencies. These will have please if Company may accept transactions into Company’s accounts in client willed currencies and any payments due to or from Company’s accounts and any net balances on the account shall be reported by Company in the respective currency.
4.8.3. Company will generally settle trades or perform any required setoffs and deductions in the relevant currency where the account comprises such currency ledger, save that where such currency balance is insufficient, Company may settle trades in any currency using the Exchange Rate
4.8.4. Please note that you must have funds in Client’s account for the request to be approved. Withdrawals will not be approved if Client’s trading account(s) are in deficit in case if exchange fees rate and transaction fees will exceed the balance itself or jointly.
4.9. Non-Deposited Funds
4.9.1. Client’s account Funds may include agreed or Company’s granted bonuses and promotional features or other capital not paid by the Client itself or received not by trade. Unless otherwise agreed, funds not deposited are not available for withdrawal. In addition, due to technical limitations, in some cases, non-deposited funds may be credited to the Client’s.
4.9.2. Accordingly also bonds issued by the Company to Client may be withdrawn only if the minimum trading volume is 25 times the deposit amount and the bonus issued.
5.1. When contentious cases occur, the User is entitled to report a claim to AXE CAPITAL . Claims are accepted inside 2 operating days from the date the matter has occurred.
5.2. The claim shall be sent to the operations Department within the type of associate email to [email protected]. The claim isn’t subject to revelation by the applier till the inquiry is finished.
Claims submitted in different ways in which shall not be reviewed.
5.3. AXE CAPITAL shall method the User grievance inside the term of less than ten operating days:
If the User claim is taken into account truthful, AXE CAPITAL can settle for it and deposit funds within the User trading account inside one operating day.
AXE CAPITAL follows usually accepted market practices and internal policy, for those claims not mentioned within the gift Agreement.
5.4. The User claim must contain:
– name and surname;
– account number;
– date and time once the contentious case occurred;
– contentious case or order ticket;
– description of claim, excluding emotional essence.
5.5. AXE CAPITAL has freedom to reject a claim within the following cases:
– the claim doesn’t befits the terms of the Clauses 5.1, 5.2, 5.4.;
– the claim includes obscene/rude words or/and insults to AXE CAPITAL or its officials;
– the claim contains threats to AXE CAPITAL or its officials;
– the User threatens to stain the name of AXE CAPITAL applying social networks and different community resources.
5.6. AXE CAPITAL has freedom to correct the results of the User trades if the server errors that generated quotes delay, spikes and different negative consequences for AXE CAPITAL were detected, and were not hedged by AXE CAPITAL contractors.
5.7. AXE CAPITAL guarantees that any deal of the User disbursed at non-market quote (spike) shall be fixed simply when detection of the actual fact of inaccurate performance.
5.8. If the positions are totally bolted by any lockup system together with triple lock and therefore the total of swaps includes a positive va;ue, AXE CAPITAL reserves it’s freedom to correct the swap.
5.9. The present Agreement forbids use of methods adjusted on the profit extraction by means that of purposely making the things, once one in every of the User’s or a gaggle of Clients’ account turns to negative balance, together with the case once the accounts are opened underneath the names of various persons, invariably being the a part of one trading strategy. In sıtuatıon of showing implementation of such trading methods, AXE CAPITAL reserves freedom to use the Clause 3.15.5. of this Agreement.
5.10. If at the instant of market shut the entire volume of positions, opened at the User account implies the modification of total profit by quite 0.5% of deposit, just in case the value changes by one pip (more than five AXE CAPITAL lots for each USD1,000 of deposit), AXE CAPITAL reserves the proper to correct the money results of such deals just in case the market opens with a spot by the quantity proportional to the scale of the gap in pips.
5.11. The Dealing Department of AXE CAPITAL executes its affirmative call on a claim relating to reopening a position consistent with the subsequent scheme: just in case there are substantial time or price gaps since the instant of inaccurate closing a position thereto of opening a position, the deal are often opened once more at a median worth that is ready either for the amount between a mistaken position shut associated creating a choice on its reopening or inside an hour from the instant of inaccurate position shut. Reopening a position is inserting a replacement order of a similar volume because the one closed erroneously. This rule is totally applicable to the compensation of erroneously closed positions.
5.12. When the pice changed, connected with the a distinction between the instrument last worth at market shut and therefore the instrument initial worth at market open, or connected with news unleash, results in a profit above 10 percent of the initial deposit, AXE CAPITAL reserves the proper to use correction of such trade money lead to the scale proportionate to the distinction of the abovementioned costs in pips, by means that of deducting the funds with the comment “Clause 5.12. correction”. In bound cases it’s at AXE CAPITAL ‘s discretion to line the bottom profit modification below a 10% level (of the initial deposit).
5.13. AXE CAPITAL reserves the proper to nullify results of a deal if AXE CAPITAL discovers that money accustomed execute the deal has been nonheritable in a very violation of provisions of any Company agreement, together with this Agreement, accepted by the User.
5.14. If the entire swap on all the trades created exceeds USD5,000, AXE CAPITAL reserves freedom to correct it to USD5,000 in some cases.
5.15. The countervailing quantity to the User at eliminating the technical deficiency consequences cannot exceed USD5,000.
5.16. Lost or potential profits as well as the losses incurred as the result of equipment unavailability are not a subject to compensation.
6.1. AXE CAPITAL have a right to request the customer to substantiate believability of his/her registration information, specific once gap a trading account. At any moment, AXE CAPITAL will need the consumer to produce associate electronic copy of IDs or associate ID copy certified by a functionary. Besides, AXE CAPITAL is entitled at its own discretion to exercise different ways in which of corroborative the User’s temperament. The consumer is duty-bound to befits such requests.
6.2. In case the User has not received the request for providing the scan copy of passport / ID, the verification procedure of the trading account isn’t obligatory, however the User is absolve to load the copy of the passport or the other document that identifies the identity to his Client’s account.
6.3. If when the account opening the User personal registration info (such as full name, address or telephone) has been modified, the User is duty-bound to tell the consumer Relations Department of AXE CAPITAL causing a call for participation to alter the registration info.
6.4. Client agrees that private data indicated at registration of a trading account are often employed by AXE CAPITAL inside the bounds of the AML (against money-laundering) policy.
6.5. The User is liable for credibleness of the provided personal documents or their copies, and admits the proper of AXE CAPITAL , if their originality is doubted, to use to the law-enforcement authorities of the document supply country for the authentication validation, just in case the act of the document forgery was disclosed, the User are going to be delivered to responsibility in accordance with the legislation of the document supply country.
You state, confirm and guarantee that any funds handed to the Company for trading purposes, belong exclusively to you and are free of any lien, charge, pledge or any other burden. Further, whatever funds handed over to the Company by you are not in any manner whatsoever directly or indirectly proceeds of any illegal act or omission or product of any criminal activity.
You act for yourself and not as a representative or a trustee of any third person.
You agree and understand that if the Company has such proofs that you do not act for yourself and such proofs are adequate to indicate that certain amounts, as classified above, received by you are proceeds from illegal acts or products of any criminal activity and/or belonging to a third party, the Company reserves the right to refund these amounts to the sender, either this being you or a beneficial owner of a legal entity. Furthermore, you also agree and understand that the Company may reverse any Transactions performed in your Trading Account and may terminate this agreement. The Company reserves the right to take any legal action against you to cover and indemnify itself upon such an event and may claim any damages caused to the Company by you as a result of such an event.
You understand and accept that all transactions in relation to trade in any of the Financial Instruments, will be performed only through the Trading Platforms provided by the Company and the Financial Instruments are not transferable to any other Trading Platform whatsoever.
You guarantee the authenticity and validity of any document handed over by the Client to the Company. You understand and accept that the Company is unable to provide you with any legal advice or assurances in respect of your use of the Services and the Company makes no representations whatsoever as to the legality of the Services in your jurisdiction.
8.1. To contact the User AXE CAPITAL will use:
– trading platform in-house mail;
– physical mail service;
– news from the section “Company News” on the AXE CAPITAL ‘s official web page.
AXE CAPITAL shall use the non-public info of the User indicated at registration, during this regard the User is susceptible to inform AXE CAPITAL regarding all changes within the personal contact details.
8.2. A message (including documents, announcements, notifications, confirmations, reports etc.) is taken into account as received by the User:
– one hour when it’s been sent by email;
– right away just in case it’s been sent by internal mail within the trading platform;
– right away just in case sent by fax;
– right away when the telephone call has been finished;
– when seven calendar days just in case sent by communication service;
– right when unleash of reports within the section “Company News” of AXE CAPITAL official web site.
8.3. The User daily receives associate email with a report on all done operations within the trading account for the past twenty four hours.
8.4. By accepting the terms of the Agreement, the User agrees to give his contact details so as to receive info on AXE CAPITAL ‘s utility.
9.1. General provisions.
9.1.1. The User ensures that:
– the data indicated within the account registration kind is true and pertains to the account holder;
– it’s of the User full responsibility to secure privacy of applying the username and passwords;
– the User is totally chargeable for behavior that result from applying username and passwords;
– the User bears full responsibility for actions together with operations on money markets;
– agrees to the proper of AXE CAPITAL to record conversations with the User with the aim of their proof.
9.1.2. AXE CAPITAL ensures that the data indicated by the User within the account registration kind is confidential. just in case of such revelation the violation shall be handled consistent with this Agreement.
9.1.3. The User accepts that AXE CAPITAL or a 3rd party concerned in representing the services to the User isn’t accountable for poor phone connection, internet, software updates or any events that don’t depend upon AXE CAPITAL, or info services supplier or a 3rd party handling rendering services to the User.
9.1.4. The User agrees that AXE CAPITAL includes a right to suspend activity on the User trading account just in case AXE CAPITAL has any suspicion that the User trading account is employed for money-laundering or the User has provided deliberately false info. Once the operations are suspended, AXE CAPITAL shall run the probe that will embrace examination of the account registration information and therefore the trading account depositing history, identification of the User, etc. The User agrees that AXE CAPITAL has the proper to initiate investigation, if it’s reasons to suspect that the User has listed on the account in violation of this Agreement.
9.1.5. The User acknowledges, that in conformity with Anti-money laundering policy, AXE CAPITAL reserves freedom to request the main points of the checking account open underneath the name of the User, imposing the restrictions on funds’ withdrawal from the account solely through bank transfer with the desired bank details. just in case of the User refusal to submit the bank details AXE CAPITAL is entitled to place on hold all operations with the trading account till given the desired info.
10.1. General provisions.
10.1.1. This Agreement enters into impact since the instant of being signed by the User.
10.1.2. This Agreement is terminated if:
10.1.2.1. Any party expresses desire to terminate this Agreement:
– on condition the User withdraws all funds from the trading account, that results in termination of relationship regulated by the Agreement;
– on condition of the User violation of the conditions represented within the gift Agreement AXE CAPITAL has the proper to terminate the Agreement in its sole discretion, with previous notification of the User regarding such termination and when returning all funds from the User trading account balance as of the instant of the Agreement termination.
10.1.2.2. If AXE CAPITAL stops the activity regulated by this Agreement:
– AXE CAPITAL notifies one month before such termination;
– AXE CAPITAL returns all funds to the User that were on the balance of the User trading account as of the instant of shut.
10.1.2.3. In case of the User death:
– the proper to withdraw funds from the User trading account goes to the heritor of the corresponding queue, or to the heritor in accordance to the will/testament of the User;
– the proper to use the trading account of the User and to conduct operations on the financial markets can not be transmitted.
10.2.3. The User admits that AXE CAPITAL reserves freedom to suspend or to prevent totally or partly the access of the User to the services of AXE CAPITAL at its sole discretion, with the subsequent notification by means that of communication. During this case this Agreement is taken into account as terminated since the instant the services are created unprocurable for the User.
11.1. The present Agreement is made in English version.
11.2. For the User comfort, AXE CAPITAL will give the Agreement version in another requested language. The translated version of the Agreement is of a only informative character.
11.3. If the translated version and English versions of the this Agreement are different, priority will have the version in English language.
Suite No. 2 of the Rodney Bayside Building, in Rodney Bay, Gros Islet, Saint Lucia