This agreement outlines the Terms and Conditions of the agreement between the client and Diamond Global LTD, Trust Company Complex, Ajeltake Road, Majuro, Marshal Island
Before you begin using our services and setting up your account with the company Diamond Global LTD, Majuro, Marshal Island .(herein referred to as “we,” “us”), you (“you” or “Client”) must agree to the terms and conditions detailed below (the: “Agreement”). By checking the “I have read, understood, and accepted” box, you confirm that you agree that this Agreement as binding as if “written and signed by you and delivered to the Company under any applicable law or regulation. This Agreement describes the terms, conditions and risks applicable to your use of our services available under the domain of www.yestrading.com (the “Site”). If you have any questions regarding this Agreement please contact our Customer Support. If these conditions are translated into another language, the English Language version will prevail. The English version is always available on the Company’s Internet website (the: “Web- site”) or by written request to the Company’s customers support deportment. In case of legal disputes the English version will be used for re-presentation.
LEGAL USE REQUIREMENTS
CLIENT’s REPRESENTATIONS AND WARRANTIES
Client represents and warrants that:
4. If Client is a natural person, Client is of sound mind, legal age and legal competence. If Client is not a natural person,
(A) Client is duly organized and validly existing under the applicable
laws of the jurisdiction of its organization;
(B) execution and delivery of this Agreement and performance of all obligations contemplated under this Agreement have been duly authorized by Client; and
(C) each person executing and delivering this Agreement and all other transactions contemplated here under on behalf of the Client, has been duly authorized by Client to do so.
5. No person other than Client has or will have an interest in Client’s account. Client has full beneficial ownership of all collateral and will not grant any security interest in any collateral to any person without the Company’s prior written consent.
6. Client is not an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, nor any member of any exchange and/or firm registered
on any exchange, or any bank, trust, or insurance company.
7. Client will execute and deliver all documents, give all notices, make all filings and take such other actions as the Company, in its sole discretion, deems necessary or desirable to evidence
or perfect any security interest in favor of the Company or to protect the Company’s interests with respect to any Collateral.
8. Client has read and understands the provisions contained in this Agreement, including, with- out limitation, the Company’s Risk Disclosure Statement.
9. Client shall not use his Account with the Company for any illegal activity. Client will not use trading robots, expert advisers, or other computer program which were not approved
in advance and in written by the Company. Without derogating from the above mentioned, Client is prohibited from using any robots, expert advisers, or other computer program which
used to gain an unfair advantage or to abuse any technical error, bug or malfunction or other defect in any software used by Company.
10. Client warrants that he will not attempt to hack, make unauthorized alterations to or introduce any kind of malicious code to the Service or the Website.
11. Client hereby declares that the moneys invested in the Client’s account with the Company do not originate from drug trafficking, abduction, or any other criminal activity.
The company provides the below services and takes care of all operational aspects of the business.
information will eliminate the risk inherent in trading Financial Instruments or generate profits, does not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any
Financial Instruments. Customer understands and hereby agrees that Customer is capable of, and solely responsible for, assessing the merits and risks of any trade.
22. Company, at its sole discretion, sets volume or other limits on Client’s account(s).
23. The Client is obliged to update himself frequently on the Order Execution Policy available
on our website.
ACCOUNT CREATION, REGISTRATION AND VERIFICATION
24. Client may, subject to the Company’s approval, open an account with the Company for receiving the Company’s services. Client must enter full and accurate information that the Company asks for on its registration form.
25. The name on your account must match your true and legal name and identity, and the name on the Client’s credit card(s) or other payment instruments used to deposit or receive
funds in or from your Account.
26. 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 the Company for any purpose. To verify your identity, Company reserves the right to request at any time satisfactory proof of identity (including but not limited to copies of a valid passport / identity card and/or any payment
cards used) and proof of address (including but not limited a recent utility bill or bank statement).
27. Client must own or operate, directly and indirectly, not more than a single account
28. Should the Company believe that multiple accounts have been opened in favor of the same Client, Company reserves the right to freeze and/or cancel any account and/or transaction
executed in any of the accounts.
29. The Account name and password (including answers to any security questions) (the: “Login Details”) should not be disclosed to any third party. You are solely responsible for the
security of your Login Details. Any person who identifies itself by entering a correct username and password is assumed by Company to be the rightful Ac- count holder and all transactions
where the username and password have been entered correctly will be regarded as valid.
29. In no event will Company be liable for any loss you suffer as a result of any unauthorized use or misuse of your login details. If you have lost your Account name, username or password, please follow the web site instructions for a replacement.
30. Client acknowledges that should Client grant trading authority or control over Client’s account to a third party (“Trading Agent”), the Company shall in no way be responsible for reviewing Client’s choice of such Trading Agent nor making any recommendations or supervision or with respect
thereto. If Client gives Trading Agent authority to exercise any of its rights over Client’s account, Client understands that Client does so at Client’s own risk.
31. The Company requires identification documentation from customers after the initial deposit for the purpose of account verification. This documentation is used for account verification purposes only and is maintained by The Company as encrypted data in a secured environment. Account Verification is required at two levels:
• Customer verification documents required: Passport or national identification card
together with a current valid utility bill.
• Credit Card verification documents required: Copy of both sides of credit card displaying the last four digits of the card and the expiry date. Additionally, Customers are required to
confirm every credit card transaction by signing the Company credit card deposit declaration (received by email, immediately after a new transaction was performed) Customers not providing documents requested may be prevented from depositing further and/or trading and the accounts will be frozen until the account verification process has been
DEPOSIT AND WITHDRAWAL PROCEDURES
32. Client must maintain, at all times, collateral as margin for securing the transaction in his Account, according to the Company’s procedures regarding minimum collateral etc. All deposits
must come from a payment instrument from the Client’s country of residence and in Client’s name. When making a deposit Client must transfer the Company an authentic payment
certification, such as a SWIFT confirmation or credit card photocopy, showing the Client’s details.
• No third party deposits are allowed
33. Margin Requirements
The Client shall provide and maintain the Initial Margin and/or Hedged Margin in such limits as the Company, at its sole discretion, may determine at any time under the Trading Conditions
for each type of CFD. It is the Client’s responsibility to ensure that he understands how a Margin is calculated. Unless a Force Majeure Event has occurred, the Company has the right to change the Margin requirements, giving to the Client two Business Days Written Notice prior to these amendments. In this situation the Company has the right to apply new Margin requirements to the
new positions and to the positions which are already open. The Company has the right to change Margin requirements without prior notice to the Client in the case of Force Majeure
Event. In this situation the Company has the right to apply new Margin requirements to the new positions and to the positions which are already open.
34. Deposits shall be credited to the Client account subject to the Company’s identification of the Client’s deposit with the Company’s bank or other financial institution account.
• You may deposit money into your trading account at any time either EUR or USD respectively. However, trading platform will be presented to you only in USD currency. We use
the conversion rates of the Reuters. We reserve the right, without prior notice, to make any currency conversions which we consider necessary or desirable for the purposes of complying with our obligations or exercising our rights under these Terms and Conditions or any transaction.
• All foreign currency exchange risk arising from any transaction or from our compliance with our obligations or the exercise of our rights under these Terms and Conditions will be your responsibility.
35. Withdrawals shall be made subject to a proper withdrawal request of the Client, and the closure of the positions in the Client’s Account according to the Company’s instruction.
Withdrawals shall be made to the same credit card or to the same bank account the initial deposits were made, at the Company discretion.
36. As well as any other verification processes we may undertake, we reserve the right to request you to provide additional proof of identity to assist with our Anti Money Laundering policy before processing your withdrawal, including but not limited to: passport number, driving license, photocopy of a valid identity document, utility bill or header of a recent bank
or card statement.
37. All payments to and from your account must be paid in the currencies available on the Company’s Web-site. The Deposits shall not bear interest (excluding swap calculation when rolling over transactions from one business day to the next). Transactions involved with underlying financial instrument such as securities shall not grant the Client any right to vote, receive dividend or
to any other rights associated with such securities.
38. Funds transfers may be debited with exchange rates difference and credit card companies and bank fees, and therefore it 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.
39. When using alternative payment methods (internet payment vendors; money transfer services; etc.) the Company, at its sole discretion, may set such procedures for acceptance of funds and may execute withdrawals to a facility other than the facility used for the original deposit, in accordance with anti-money-laundering regulations.
40. All amounts you withdraw are subject to the transaction limits and any processing fees for deposits and withdrawal methods that we notify you.
41. If there are no active bonus agreements and your account is fully verified and the withdrawal amount is not bigger than your available balance, the submitted withdrawal will be handled within 2 business days.
42. Withdrawals are processed Monday to Friday (excluding banking holidays). If 48 business hours have passed and your withdrawal request is still pending, please contact [email protected] to find out what terms need to be completed in order for the withdrawal request to be completed.
43. Should you wish to cancel your withdrawal request, you can do so by updating the status in the cashier section or by sending us an email. Cancellations over the phone are not
44. Company may make available to you through one or more of its Services a broad range of financial information that is generated internally or obtained from agents, vendors or partners (“Third Party Providers”). This includes, but is not limited to, financial market data, quotes, news, analyst opinions and research reports, graphs or data (“Market Information”).
45. Such Market Information is not intended to serve as investment advice. Company does not endorse or approve the Market Information, and we make it available to Client only as a
service for his own convenience. Company and its Third-Party Providers do not guarantee the accuracy, timeliness, completeness or correct sequencing of the Market Information, or warrant any results from Client’s use or reliance on the Market Information.
46. Client acknowledges that (I) any market information communicated to Client by the Company or by any person within the company, does not constitute an offer to sell or the
solicitation of an offer to buy any the financial instruments, (II) the Company makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information furnished to Client (III) Client acknowledges that the Company and/or its officers, directors, affiliates, associates, stockholders or representatives may have a
position in or may intend to buy or sell financial instruments, which are the subject of market information
furnished to Client, and that the market position of the Company or any such officer, director,
affiliate, associate, stockholder or representative may not be consistent with the information.
furnished to Client by the Company.
DEPOSITS AND BONUSES POLICY
47. The Client shall provide to and maintain with the Company guarantees in such amounts and in such forms as the Company, in its sole discretion, may require. Company may change its requirements at any time.
48. The Client agrees to deposit by immediate wire transfer, or other payment method acceptable to the Company, such additional guarantees when and as required by the Company
and will promptly meet all guarantees calls in such mode of transmission as the Company in its sole discretion designates.
49. The Company may at any time liquidate Client’s account in any case the guarantees in the Account do not meet the Company’s requirements.
50. The Company retains the right to limit the amount and/or total number of open positions which Client may acquire or maintain at the Company.
51. All funds, securities, currencies, contracts and other property of Client which the Company or its affiliates may at any time be carrying for Client (either individually, jointly with other, 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 the Company as security and subject to a general lien and right of set-off for liabilities of Client to the Company whether or not the Company has made advances in connection with
such securities, commodities, currencies or other property, and irrespective of the number of accounts Client may have with the Company.
52. 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 Client; (d) insufficient margin/ guarantees; (e) Client’s failure to provide Company with any information requested pursuant to this Agreement; or (f) any other circumstances or developments that Company deem appropriate for its protection, and in the Company’s sole discretion, The Company may Satisfy any obligation Client may have to Company out of any of Client’s funds or property in the Company’s custody or control; close open position held or carried for Client; and Cancel any or all outstanding orders or contracts in the Client’s Account.
53. Bonus on CFD – 20% of investment
CFD provides attractive bonus features to its new clients. Bonuses and one-time trading credits are part of CFD promotions program. These bonuses are limited by time and the conditions related to any bonuses are subject to change. In order to withdraw funds from an account that has been credited with a bonus, the the customer is required to execute a minimum turnover of –
bonus amount plus total deposits multiply by forty= (Bonus + Total deposits)X 40= minimum turnover required.
The bonus can be withdrawn only when the foregoing stipulation has been fully respected and fulfilled and when client is fully verified with all required documents mentioned above.
Any bonus accounts will be only allowed to withdraw their funds once they’ve met the terms and conditions set within the trading volume.
Any indication of fraud manipulation, cash back arbitrage or other forms of deceptive or fraudulent activity based on the provision of the bonus will invalidate the account and any profits or losses collected.
61. Client agrees that the Company does not collect, withhold or pay tax for any authority in any form or manner. It is Client’s obligation alone to calculate and pay all taxes applicable
to the Client. Client agrees that in case the Company is required by the applicable law or authority to deduct tax, it may do so.
COPYRIGHT AND TRADEMARKS
62. All trademarks, trade names, service marks and logos displayed throughout the Site and Company’s trading platform are the property of Company or licensed by third parties. You
may not display, use as a link, use as a meta tag, or otherwise use any of the trademarks, trade names, service marks and logos displayed throughout the Site without the prior written consent of the owner of the trademark, trade name, service mark and logo.
66. Further, all other material used by Company, including but not limited to the software, images, pictures, graphics, photographs, animations, broadcast content, videos, music, audio, text (and any intellectual property rights in and to any of the same) is owned or licensed by Company or one of its subsidiaries or associated group companies and is protected by copyright
and/or other intellectual property rights. You obtain no rights in such copyright material or trade or service marks and must not use them without Company written permission.
63. Client may not, without limitation, (a) reverse engineer or decompile (in whole or in part) any software avail- able through the Website; or (b) make copies, modify, reproduce,
transmit, alter or distribute all or any part of the Web-Site or any material or information containedonit; or (c) resell the Company’s services.
Transfers between the accounts on the forex platform are forbidden
64. Trading in OTC financial instruments such as Forex is considered speculative and risky, suitable only for those sophisticated institutions or sophisticated participants financially able
to withstand losses which may equal the value of margins or deposits. Before deciding to undertake such transactions, you should carefully evaluate whether your financial situation is
appropriate for such transactions.
65. Trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. You acknowledge that
trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital- funds that are not necessary to the survival or
66. Without limiting the generality of the foregoing, trading involves risks associated with the following factors:
67.1. Financial instruments trading may be leveraged with funds worth hundreds of times more than the value of your Initial deposit. Therefore, a relatively small movement in the relevant
market or currency can have a substantial effect on your trade and such movement can quickly result in the loss of your entire Initial deposit.
68.2. Losses may be compounded due to sudden adverse market movements, position buildup, or accumulation of commissions and other charges.
69. Your position with the financial instruments trading may be subject to market volatility risk and prices may change while your position is open. The opening and closing price
of contract quoted to you will be derived from the price in the Underlying market for that instrument subject to your proposed trade being at or below the normal market size for that
instrument. The size of the difference between our ‘buy’ and ‘sell’ prices may change while your contract position is open to reflect changing market conditions. It may, therefore, be the
case there is a wider difference between the ‘buy’ and ‘sell’ prices you are quoted when closing a contract that when it was opened. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.”; and (b) “CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
70. OTC’s are not traded on a regulated exchange. There are no guarantees to the credit worthiness of the counter party of your position. Also, there may be certain cases in which
trading liquidity decreases, causing trading in commodities, currencies metals and indices to cease, thereby preventing the liquidation of an adverse position which may result in a substantial financial loss.
71. Please be aware of all charges and commissions that apply to you, because this may affect your profit margin.
72. Client Acknowledgements of Risk and Consents You unreservedly acknowledge and accept that:
72.1. Trading in CFDs is not suitable for all members of the public and You run a great risk of incurring losses and damages as a result of trading in CFDs and accept and declare that you
are willing to undertake this risk. The damages may include loss of all your money and also
any additional commissions and other expenses.
72.2. CFDs carry a high degree of risk. The gearing or leverage often obtainable in CFDs means that a small deposit or down payment can lead to large losses as well as gains. It also
means that a relatively small movement can lead to a proportionately larger movement in the value of your investment and this can work against you as well as for you.
72.3. You will only invest assets that you can afford to lose without having to change his standards of living, and you will cease trading if his financial situation no longer permits it.
You understand that only assets that are not required for meeting the current expenses your household and that are proportionate to your income and other assets should be placed at
risk by Forex and CFDs Transactions;
72.4. Trading on an electronic Company Online Trading System carries risks.
72.5. You agree and understands that:
– You will not be entitled to delivery of, or be required to deliver, the Underlying Asset of the CFD, nor ownership thereof or any other interest therein.
– No interest shall be due on the money that the Company holds in your Client Account
– When trading in CFDs you are trading on the outcome of the price of an Underlying Asset and that trading does not occur on a Regulated Market, Multilateral Trading Facility or
any other similar organization but Over-The-Counter (OTC).
The Client confirms that he has regular access to the internet and consents to the Company providing him with information, including, without limitation, information about amendments
to the terms and conditions, costs, fees, this Agreements, Policies and information about the nature and risks of investments by posting such information on the Company website.
ABUSIVE OR OFFENSIVE BEHAVIOR
73. Abusive or offensive behavior will not be tolerated on Company’s Web-site or with any
of our staff. Any violation of this policy will result in a suspension of your use of the services
or such other action as may be reason- ably required by Company to ensure compliance.
FRAUDULENT AND PROHIBITED ACTIVITIES
74. Company has a zero tolerance policy towards fraudulent activity. If, according to the Company’s sole determination, you are found to have attempted to defraud the Company
(including but not limited to any charge- back, or other reversal of a payment) or to execute prohibited transactions, Company reserves the right to suspend and/or close your Account
and to share this information (together with your identity) with banks, credit card companies, and other such appropriate enforcement agencies.
75. The Company may cancel and / or close arbitrage transactions (risk-free profit), particularly those where the quotes were not at market prices and / or were in contrasting identity.
76. We reserve the right to void and withhold any or all funds where we have grounds to believe that said funds were obtained while acting in an attempt to defraud the Company.
77. Client is expressly prohibited from posting information or contacting our Clients to offer or promote any offers, products or services without the express written permission of the
78. In the event of any system failure or error (‘System Error’), Company reserves the right to adjust or to declare null and void any trade made based on such System Error.
79. You authorize us and our agents to make any inquiries of you and for us to use and disclose to any third party we consider necessary to validate the information you provide to
us or should provide to us in accordance with this Agreement, including but not limited to, ordering a credit report and/or otherwise verifying the information against third party databases.
80. The parties shall be released of all responsibilities for partial, full or non-fulfillment, as well as for improper fulfillment of the obligations under this Agreement, if such non-full- filament
or improper fulfillment was a result of extraordinary events, or for the act of any Government or legal authority, or for the failure of or damage or destruction to its computer
systems, data or records or any part thereof, or for delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or
81. You are entitled to close your Account by withdrawing the entire balance from your account and sending an email to the Company. Closure of the Account and termination of the Agreement shall not terminate any out- standing or future debts or obligation towards the
82. The Company is entitled to terminate this Agreement with a prior notice to you at the email address you have provided to the Company, and by refunding the balance of your Account,
subject to your outstanding or future debts or obligation towards the Company.
83. Provisions of Sections which, by their nature, must remain in effect beyond the termination of this Agreement shall survive any termination.
84. Company reserves the right to terminate this agreement, withhold your account balance, suspend your ac- count, and to recover from such account the amount of any affected
payments, if You are in material breach of any of these Agreements or You have performed a ‘charge back’ or denied any of the purchases or deposits that you made to your Account.
LIMITATIONS AND EXCLUSIONS
LIMITATION OF LIABILITY
COMPLAINTS & NOTICES
PRIVACY AND DATA PROTECTION
GOVERNING LAW AND JURISDICTION
MODIFICATION AND AMENDMENTS
The Client’s Personal Data
To open a demo or live account, the Company will need certain information (Personal Data) about the Client. The Personal Data that is collected by the Company may include:
Use of Personal Data
The Company may use a Client’s Personal Data for one or more of the following purposes:
Cookies are small text files sent by a web server and stored on a visitor’s browser which are read later by the server when the visitor returns to the site. Cookies store information such as passwords (encrypted), usernames, shopping cart, certain preferences, etc. allowing visitors to visit sites repeatedly without having to enter the same information over and over. Cookies are not used to determine the personal identity of anyone visiting the site.
The Company may convey the Client’s Personal Data to associated or affiliated companies, auditors, agents (including payment agents), banks or other authorized organizations or persons (“Authorized Persons”) for the sole purpose of processing the Client’s trading and non-trading instructions. The Company guarantees that all Authorized Persons will adhere to the terms of this Policy and take all necessary steps to protect the Client’s Personal Data. The Company may provide Personal Data to third parties who are not the Company’s partners, agents or affiliates only when requested by representatives of legal or administrative authorities.
Use of Information
Security and Protection
The Company takes the issue of security very seriously and takes all possible measures to ensure the safety of your confidential information, including adhering to strict standards for the internal use of confidential information and using leading data storage technology. When making a payment with a credit/debit card, you will be transferred to the site of the processing center where you will fill out a form. To prevent the unauthorized use of your credit/debit card, your card information is transmitted to the Company in shortened form and through a secure server.
If you have any questions about this Policy do not hesitate to contact us at [email protected]
www.yestrading.com provides its clients with the tools necessary to promote stable and moderate portfolio growth. Familiarity with the forex market and the details of trading is considered a prerequisite to investing funds.
forex trading carries considerable risk, similar to trading endeavors in any financial instrument in the global market. Clients are advised to consider the risks involved in trading forex, and the potential to incur a partial or total loss of funds as a result of investment.
www.yestrading.com is not responsible for any losses incurred by the client, as a result of trading forex on the www.yestrading.com trading platform.
Trading on the www.yestrading.com platform requires complete and total adherence to the laws governed and enforced in each client’s own country of residence, as well as to all rules put forth by www.yestrading.com ,in order to ensure a safe, secure, and legitimate trading environment. Please see the legal section and terms and conditions of the www.yestrading.com website for detailed descriptions of rules and regulations applied to trading forex on the www.yestrading.com trading platform.
Prices and quotes of assets in the www.yestrading.com trading platform represent the rates at which www.yestrading.com is offering for the sale of each forex to its clients. Therefore, discrepancies could exist between the prices seen on the www.yestrading.com com trading platform relative to live market levels, and in no way do these discrepancies entitle the trader to compensation beyond the success or failure of an investment.
All information posted on the www.yestrading.com website is accurate to best of our knowledge. However, the forex market entails a high pace of change to market conditions and influences. No guarantees can be made regarding the validity of the details written on the website at the time of your reading the information.
To the maximum extent permitted by applicable law, www.yestrading.com expressly disclaims all warranties of any kind, expressed, implied or statutory, related to the site, platform, content, and services, including and without limitation the warranties of title, merchant ability, fitness for a particular purpose, non-infringement of proprietary rights, course of dealing or course of performance. www.yestrading.com disclaims any warranties, expressed or implied regarding: (i) the security, accuracy, reliability, timeliness and performance of the site, content, platform, and services; and (ii) the site, platform and services will be uninterrupted, error-free or that any errors will be corrected; and (iii) regarding the performance of or accuracy, quality, currency, completeness or usefulness of any information provided by the site, platform and services.
This summarized Conflict of Interest Policy (“the Policy”) is provided to you (our Client or prospective Client) in accordance with the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law 144(I)/2007, as subsequently amended from time to time (“the Law”), pursuant to which Yes Trading (“the Company”) is required to take all reasonable steps to detect and avoid conflicts of interest.
The Company is committed to act honestly, fairly and professionally and in the best interests of its Clients and to comply, in particular, with the principles set out in the above legislation when providing investment services and other ancillary services related to such investment services.
The purpose of this document is to set out the Company’s approach in identifying and managing conflicts of interest which may arise during the course of its normal business activities. In addition, this document identifies circumstances which may give rise to a conflict of interest.
The Policy applies to all its directors, employees, any persons directly or indirectly linked to the Company (hereinafter called “Related Persons”) and refers to all interactions with all Clients.
When the Company deals with the Client, the Company, an associate or some other person connected with the Company may have an interest, relationship or arrangement that is material in relation to the Transaction concerned or that it conflicts with the Client’s interest.
While it is not feasible to define precisely or create an exhaustive list of all relevant conflicts of interest that may arise, as per the current nature, scale and complexity of the Company’s business, the following list includes circumstances which constitute or may give rise to a conflict of interest entailing a material risk of damage to the interests of one or more Clients, as a result of providing investment services:
(a) When the Company accepts Client order in relation to Forex, the Company will be dealing in the types of Forex concerned as principal for the Company’s account.
(b) The Company may be matching the Client’s Order with that of another Client by acting on such other Client’s behalf as well as on the Client’s behalf.
(c) The Company may receive or pay inducements to or from third parties due to the referral of new Clients or Clients’ trading.
To identify different types of conflicts that might arise in the course of providing its Services, and whose existence may harm or otherwise damage one or more Clients’ interests, takes into account, by way of minimum criteria, the question of whether the Company itself or a Related Person or a person directly or indirectly linked by control to the Company, is in any of the following situations, as a result of providing investment services or otherwise:
(a) The Company or a Related Person is likely to make a financial gain or avoid a financial loss at the expense of a Client.
(b) The Company or a Related Person receives or will receive from a person other than the Client an inducement in relation to a service provided to the Client, in the form of monies, goods or services, other than the standard commission or fee for that service.
(c) The Company or a Related Person has an interest in the outcome of a service provided to the Client or of a transaction carried out for the Client, which is distinct from the Client’s interest in that outcome.
(d) The Company or a Related Person has a financial or other incentive to favor the interest of another Client or group of Clients over the interests of the Client.
(e) The Company or a Related Person carries on the same business as the Client.
In general, the procedures and controls that the Company follows to manage the identified conflicts of interest include the following measures (list is not exhaustive):
(a) The Company undertakes ongoing monitoring of business activities to ensure that internal controls are appropriate.
(b) The Company undertakes effective procedures to prevent or control the exchange of information between Related Persons engaged in activities involving a risk of a conflict of interest where the exchange of that information may harm the interests of one or more Clients.
(c) The separate supervision of Related Persons whose principal functions involve providing services to Clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the Company.
(d) Measures to prevent or limit any person from exercising inappropriate influence over the way in which the Related Person carries out investment services.
(e) Measures to prevent or control the simultaneous or sequential involvement of a Related Person in separate investment services where such involvement may impair the proper management of conflicts of interest.
(f) A policy designed to limit the conflict of interest arising from the giving and receiving of inducements.
(g) Chinese walls restricting the flow of confidential and inside information within the Company, and physical separation of departments.
(h) Procedures governing access to electronic data.
(i) Segregation of duties that may give rise to conflicts of interest if carried on by the same individual.
(j) Personal account dealing requirements applicable to Related Persons in relation to their own investments.
(k) Establishment of in-house Compliance Department to monitor and report on the above to the Company’s Board of Directors.
(l) Prohibition on officers and employees of the Company having external business interests conflicting with the interests of the Company without the prior approval of the Company’s board of directors.
(m) A “need-to-know” policy governing the dissemination of confidential or inside information within the Company.
(n) Appointment of Internal Auditor to ensure that appropriate systems and controls are maintained and report to the Company’s Board of Directors.
(o) Establishment of the “four-eyes” principle in supervising the Company’s activities.
By entering into a Client Agreement with the Company for the provision of Investment Services, the Client is consenting to an application of this Policy on him. Further, the Client consents to and authorizes the Company to deal with the Client in any manner which the Company considers appropriate, notwithstanding any conflict of interest or the existence of any material interest in a Transaction, without prior reference to the Client.
In the event that the Company is unable to deal with a conflict of interest situation it shall revert to the Client.
If during the course of a business relationship with a Client or group of Clients, the organizational or administrative arrangements/measures in place are not sufficient to avoid or manage a conflict of interest relating to that Client or group of Clients, the Company will disclose the conflict of interest before undertaking further business with the Client or group of Clients.
The Company reserves the right to review and/or amend its Policy and arrangements whenever it deems this appropriate without notice to the Client. Should you require any further information and/or have any questions about conflicts of interest please direct your request and/or questions to [email protected].
1.1. This Summary Best Interest and Order Execution Policy (“the Policy”) is provided to you (our Client or prospective Client) in accordance with the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law 144(I)/2007, as subsequently amended from time to time (“the Law”). Pursuant to the Law Yes Trading (“the Company”) is required to take all reasonable steps to act in the best interest of its Clients when receiving and transmitting Client Orders and to achieve the best execution results when executing Client Orders and to comply, in particular, with the principles set out in the Law when providing investment services.
2.1. This Policy applies to both Retail and Professional Clients (as defined in the Company’s Client Classification Policy). If the Company classifies a Client as an Eligible Counterparty, this Policy does not apply to such an Eligible Counterparty.
2.2. This Policy applies when receiving and transmitting Client Orders or executing Client Orders for the Client for all the types of forex offered by the Company.
3.Best Execution Factors
3.1. The Company shall take all reasonable steps to obtain the best possible results for its Clients taking into account the following factors when executing Clients’ orders against the Company’s quoted prices:
3.2. The Company does not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as priority factor. Nevertheless, whenever there is a specific instruction from the Client, the Company shall make sure that the Client’s order shall be executed following the specific instruction.
4.Best Execution Criteria
4.1. The Company will determine the relative importance of the above Best Execution Factors (of paragraph 3 above) by using its commercial judgment and experience in the light of the information available on the market and taking into account:
4.2. For Retail Clients, the best possible result shall be determined in terms of the total consideration, representing the price of the forex and the costs related to execution, which shall include all expenses incurred by the Client which are directly related to the execution of the order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order.
5.Client’s Specific Instruction
5.1. Whenever there is a specific instruction from or on behalf of a Client (e.g. fills in the required parts on the Company’s trading platform when placing an Order), the Company shall arrange – to the extent possible – for the execution of the Client order strictly in accordance with the specific instruction. It is noted that the specific instruction may prevent the Company from taking the steps in the Policy to obtain the best possible result for the Client.
5.2. Trading rules for specific markets or market conditions may prevent the Company from following certain of the Client’s instructions.
6.Execution on Client Orders
6.1. The Company shall satisfy the following conditions when carrying out Client Orders:
7.1. Execution Venues are the entities with which the Orders are placed. For the purposes of Orders for the forex, some third Financial Institution(s) will be the Execution Venue and not the Company. A list of these financial institution(s) will be made known to Clients in a durable medium or may be publicized on the main website of the Company. The list may be changed at the Company’s discretion by giving at least one business day prior notice to the Clients.
7.2. The Client acknowledges that the transactions entered in forex with the Company are not undertaken on a recognized exchange, rather they are undertaken over the counter (OTC) and as such they may expose the Client to greater risks than regulated exchange transactions.
8.1. By entering into an Agreement with the Company for the provision of Investment Services, the Client is consenting to an application of this Policy on him.
9.Amendment of the Policy and Additional Information
9.1. The Company reserves the right to review and/or amend its Policy and arrangements whenever it deems this appropriate without notice to the Client.
Should you require any further information and/or have any questions about conflicts of interest please direct your request and/or questions to [email protected]