This Agreement is negotiated between the Proud Market Company Company name ltd. and an individual, who has registered a trading account with the Company in any way (hereinafter – the “Client”, or “Trader”, or “Customer”).
You totally accept the Terms and Conditions by using the Website; if you don’t agree with any paragraph or with the terms at all you shall not use or do any kind of activity on the Website.
- Use of the Platform
- The Client represents his agreement and convenience in this Terms and Conditions and makes sure that he/she understands them.
- The Client guarantees and stands for being legally entitled to visit the Trading Platform and make use of information accessible via the Website.
- It’s absolutely prohibited for the Client to use any outside execution system or robotic trade execution, which applies artificial intelligence analysis to the Company’s systems or Platform.
The Website and information, instruments, services and any other materials included are not to be disseminated by any person or organization which is located or is a citizen of any certain jurisdiction, where any copying of this data, or use of it for other purposes, or prohibited distribution is contrary to the law of that jurisdiction or to the Charter of the Company or to its affiliates.
While using the Website the Client accepts the terms that state the rules of use of the Website, namely the usage of the Website and its tools in such a way that there would be no violations, illegal interventions, prohibited materials uploaded by the user that may compromise the rights of the Company.
- Risk Disclosure and Warning Notice
- The Company does not make the declarations regarding the outcomes from using the Trading Platform, the Services, the data available or the content.
- All the information available on the Website is provided on “as is” and “as available” basis. Its use is at the Client’s peril.
- The Client acknowledges that the Quotes Flow accuracy, completeness, security, and timelines of the content provided on or through the use of the Website cannot be considered as a reliable source. The only reliable source of the Quotes Flow information is that of the servers Quotes Base, because the connection between the Client’s Terminal and the Server may be disrupted at some point and some of the Quotes may not reach the Client Terminal.
- Anti-Money Laundering
We use the most powerful and innovative instruments against anti-money laundering (AML) procedures. The Company reserves the right to cancel a deal, to refuse to create a business with, to cancel continuation to do business with, and to betray or to reverse any Transaction with a Client if he/she does not agree or does not confirm the following AML policies and prerequisites:
– The Client is obliged to follow all the instructions according to the required information by the Company while or after registration;
– Any amount or payment from the Сlient’s trading account, after the expiration, can be paid only to the person who is the owner of the account (the person who passed the personal account registration process);
– If the Сlient makes a transaction by bank transfer, in this case, any withdrawal of personal funds from the Client’s account will be made only to the original bank account of the account holder. When making transactions (deposits) by this way, the Client has to be sure to provide the Company the correct bank account number and name registered with it;
– If the Сlient uses a credit / debit / prepaid card for making a transaction, then personal funds will be withdrawn only to the card of the account holder with his specified name on the card, and only to the card that was used for all previous transactions to the account of the owner. In cases of loss or blocking of the card, the Client is obliged to notify the management of the Company or the department responsible for the verification procedure about the change of the card, and also is obliged to provide a copy of the new document to which the Client wishes to withdraw personal funds;
– The Client may create only one account on his name. All accounts opened by mistake on the same name are not subject to the withdrawal process.
- Limitation of Liability
- The Company is not liable for losses incurred by the Customer due to the occurrence of unexpectable circumstances: military actionsnatural disasters, suspension of trading in financial markets, currency interventions, government decisions, instability in the financial markets with a sharp decrease in liquidity, and other significant changes in working conditions of counterparties.
- The Client assumes the risk of making unplanned trading operations in case of resending the pending order before receiving the result of processing the previous one.
- The Company shall not be liable for losses incurred by the Client due to ignorance.
- The Company is not liable for losses incurred by the Client due to an erroneous choice of the trading strategy or the Client’s neglect the capital management rules.
- Proud MarketCompany name ltd. – KYC (Know Your Customer) Policy
The obligation of the Company is not just to undertake a full and proper due diligence of our clients’ and their current needs, but also to monitor and ensure that their business activities do not breech any national and international regulations with regards to money laundering and terrorism financing. Clients are therefore invited to provide below listed documents to comply with our “Know Your Client” policy: KYC
- We will need a scanned and colored copy or a clear photograph of the Front and Back of your National Identity Card, international passport or driving license.
- A copy of a recent utility bill consumed at your residential address (e.g Electricity Bill, Water Bill, Gas Bill) OR a bank statement with your name and address visible as well as the logo of the organisation.
The bill should not be older than 3 months.
- A colored copy of your credit cards, used to make the deposit (Front side with your name, expiry date and the 4 last digits visible, back side with your signature, and CVV covered)
- Intellectual Property
The Company is the owner of the Copyright in the screens and in the pages displaying the Website (www.proud-market.com) and in any trademark contained in this Website, as well as any material therein, except for the cases when additionally indicated.
This Agreement is entered by and between www.proud-market.com (hereunder called the “Company” owning the brand of Proud Market Company name ltd.), on the one part and the Client that has applied to open a Trading Account at the Company’s online Trading Platform and has been accepted by the Company as a Client (the “Client”), on the other part, according to the Terms and Conditions stated herewith.
This Agreement, with any legally attached documents submitted between the Company and the Client, all as occasionally modified, lay out the terms upon which the Company will cooperate with the Client regarding placing orders and trading over financial instruments, on the Company’s Trading Platform. It is allowed for the Customer to make transactions on the Trading Platform on condition that he/she shares the required identity documents and other documents demanded by Proud MarketCompany name ltd.. The Client’s account may be temporarily or permanently frozen/closed in the Company’s own discretionary capacity if the required information is not provided in the previously mentioned time. Proud Market Company name ltd.reserves the right to refuse to open an account with or without any kind of justification.
- Opening of the Trading Account
To open an account with the Company:
- you must complete an Application Form in order to apply for an account. The Company will decide whether to accept your Account Application in our sole discretion;
- if the Company accepts your Application, we will:
- establish your account;
- require you to electronically transfer the amount to your trading account;
- once the funds have been cleared, the Company will credit your account with the initial amount;
- unless the Company accepts your Account Application, you agree to activate your account with a minimum initial amount in cleared funds and maintain those funds with the Company at all times;
- your account will be active once the mentioned steps have been completed;
- CFD (Contacts for Difference) Trading Platform
- CFD (Contracts for Difference) are contracts between the Client and Proud MarketCompany name ltd., where the Client elects to be either the buyer of the contract (Long Party) or the seller of the contract (Short Party), whose values are reflected by the subject matter of the contracts’ price on the Underlying Market and subject in all cases to Initial Margin requirements. Such contracts prescribe that the seller pays to the buyer the difference between the contracts’ values at the time the Trades are opened and their values when they are closed if the Underlying Market price is higher at the contracts’ closing than their opening or that the buyer pays to the seller the difference if the Underlying Market price is lower at the contracts’ closing than their opening.
- The products offered by Proud Market Company name ltd.are based on the Underlying Markets. However, by trading on the CFDs the client acknowledges that he/she doesn’t acquire any right, title or interest whatsoever in any Underlying Market product.
- Trading on CFDs is automatically closed at the official close of that market as issued by the relevant exchange and then be reopened for the next trading day at the same price (with potential adjustment for such factors that will affect the underlying price as dividend payments, stock splits, rights issues).
- In the meantime, of the rolling of your Trade(s), it is the Client’s obligation to ensure that there are sufficient funds in his/her account to reopen the Trade(s). In another case, it may result in a Margin Call.
- While the Company attempts to track the bid/offer price of the underlying asset, it may from time to time, especially where liquidity is low or volatility is high in the underlying assets, change the price to adjust such market conditions.
- The Stop Losses or Take Profit orders, which are linked to that Trade, will be pushed forward along with that position.
- Proud Market Company name ltd.reserves the right to discontinue these markets and not to push forward such a trade at any time without prior warning.
- In order to initiate any Transaction, you must first maintain sufficient cleared funds into your Account by way of deposits to cover your desired transaction. You may deposit funds through the use of credit card payment, a bank transfer or a virtual currency transfer to the account provided by the Company. You understand and acknowledge that the payment methods accepted by the Company may change from time to time at our discretion. Please note, the required minimum deposit is 250 (two hundred and fifty) USD / GBP / EUR.
- Payment may be made by a Credit/Debit/Prepaid Card or by a Wire Transfer which is acceptable in Proud Market’s Company name ltd.system. Where you satisfy your payment obligations to us by using any other acceptable means of payment, those funds will be reflected in your Account but you will not be able to withdraw those funds for a period of at least 14 (fourteen) Calendar Days following the payment, transfer or deposit or until such time as we may in our discretion, decide otherwise.
- When choosing an account base currency other than your banking account base currency, your credit card may be debited sums which due to exchange rates, currency fluctuations and credit card companies’ fees, may slightly differ from the initial sum that has been deposited by you in the account base currency. You hereby accept that such variations may occur and you hereby affirm that you shall not seek to object to the above-mentioned fees.
- When depositing by a Bank Transfer, as required by anti-money-laundering regulations, you are required to use only one bank account, which is in your country of residence and in your name. An authentic SWIFT confirmation or Transfer Confirmation, showing the origin of the funds, must be sent to the Company. Failure to submit such SWIFT/Confirmation may result in the return of the deposited amount, hence preventing the deposit of such pending amounts to your trading account. Any withdrawal of funds, from your trading account to a bank account, can only be refunded to the same bank account the funds were originally received from.
- The private information required for executing the orders placed through the Proud Market. Company name ltd.Website, namely your personal information and credit card details will be kept in the strictest confidence by us. We undertake that we have taken all reasonable precautions to secure the credit card processing that is carried out to receive the financial services offered by us. We cannot be held responsible for security breaches occurring on your electronic device (personal computer or other electronic device used to browse the Website), which may result due to the lack of adequate virus protection software or spyware that you may inadvertently have installed on your device.
- Fees & Charges
- Clients are not charged any brokerage fees by the Company for the executed trades unless agreed otherwise by the Parties herein. However, any and all bank charges (concerning transfer, charges etc.) will be deducted from the client’s bank account. As bank charges are constantly changing, please contact support for specific information.
- The Company will generally be remunerated for providing the Trader with the services by entering into Transactions at prices which include a mark-up, mark-down and/or a bid/ask spread. Fees will generally be applied to the Trader’s Account on a per trade basis but may also be applied on any other basis as we determine from time to time. The Trader understands that such fees vary on a daily and continuous basis depending on many factors including market conditions, currency pairs, availability of instruments in the market etc.
- In case of the fund’s transfers standing to the credit of a Trading Account from the Company to the Client, such transactions will be accompanied by a processing fee of $30.
- All Open Positions which remain open after close of business each day may be subject to a rollover or swap rate. Rollover times, rates and swap rates vary based on the trading platform.
- The Company reserves the right to modify, from time to time, the size, the amounts and the percentage rates of its fees and the Client will be informed accordingly.
- Bonus Policy
- A Client who hasn’t declined the proposal of the company’s representatives to participate in any of the bonus programs or loyalty programs (hereinafter – the “Customer” or “Trader”).
- The Customer pledges to carefully study the Company’s Bonus policy before registration in the company’s bonus program or acceptance of any bonus or premium.
- The Company provides non-binding bonuses to the Customer. A Customer’s failure to take bonuses does not affect the cooperation between the customer and the company in any way.
- The composition and nature of the actions and bonuses, as well as other means to encourage traders, are developed by the company. The Company has the right to choose Traders for the application of one or another promotional offer. An action or a bonus is offered to the chosen Traders on equal terms. A Trader is strongly advised to read all the characteristics of the proposed bonus. The registration in any action or the bonus acceptance means that the Customer agrees with the current bonus policy of the Company. This policy has the binding force for the Trader during the entire period, while the bonus is active.
- The Trader’s use of bonuses presumes the Customer’s trading experience. Use of bonuses or promotional offers without relevant experience can lead not only to getting profits but also can result in losses. The risks associated with trading CFDs include the risk of the acquired bonus loss. There is also the risk of losing the funds deposited to the trading account of the Company by the Customer.
- The Company reserves the right to target the bonus program at its discretion: geographically and regarding target audiences. Depending on the Client’s country of residence the conditions for granting bonuses and participation in promotions can vary.
- It is prohibited to present or sell bonuses to the third person. Bonuses and promotions are attached to a particular trading account and cannot be transferred to another trading account on certain conditions.
- The currency of the bonus and promotions coincide with the currency of the Customer’s account.
- The validity of the promotions and bonuses is determined by the company. All promotional offers can be provided with conditions and restrictions. The Company has the right to cancel the offer if a Trader does not comply with the conditions. Also, the Company can change the validity period of the bonus or action without prior notice.
- If the Company has reason to suppose that the Trader overused the actions of the Company or went against the Agreement between the Company and the Trader, it has the right to withdraw the bonuses or close the Customer’s trading account.
- The act of participation in the bonus or promotional program means the Trader’s consent with the use of their name and/or image in any marketing purposes of the company. The act of depositing the bonus means the refusal of any claims against the company in connection with the granting of the bonus.
- This policy is governed by the legislation of Vanuatu. Any disputes between the company and the Trader are the subject to the authorities’ jurisdiction of Vanuatu.
- The withdrawal request from a bonus account is considered only after achieving the necessary trading volume: (Bonus amount / 3 in lots.)
- Advice, Information and Tax
The Customer knows, understands and agrees that, The Company will not provide him/her with any advice on tax issues related to any services. The Customer is advised to obtain individual and independent counsel from his/her financial advisor, auditor or legal counsel with respect to tax implications of the respective services.
Without limiting the foregoing, it is the Customer’s obligation alone to calculate and pay all taxes applicable to him/her in the country of residence, or otherwise arising in relation to his/her trading activity from the use of Proud Market’s Company name ltd.services. Without derogating from the Customer’s sole and entire responsibility to perform tax payments, it is understood and agreed that Proud Market Company name ltd. may deduct tax, as may be required by the applicable law, but is not obligated to do so, from the results of the activity with Proud Market.Company name ltd.
- It is totally understood and agreed that the Customer according to this agreement shall indemnify and hold harmless Proud MarketCompany name ltd., its directors, managers or employees, and shall take full responsibilityfor any loss, damage, cost or expense caused by the Customer’s failing to discharge his/her obligations prescribed in the Terms and Conditions or as a result of any contravention of any applicable laws or regulations.
- In case that there is any liability of the Customer to Proud Market’s Company name ltd.directors, officers or employees under the damage compensation of the clause hereinabove, Proud Market Company name ltd. has the right to set-off that amount against any balance held to the credit of the account opened by the Customer with Proud Market.Company name ltd.
- Subsequent deposits made on the Customer`s trading account, by his own wish and authorized by him/her, will be considered as a proof of good quality of services provided by Proud MarketCompany name ltd..
- General Provisions
- Any provision herein may be considered as invalid by any court of law having proper jurisdiction, such provision shall be separated, and shall not vitiate or detract from the effect and/or validity of any or all remaining provisions herein. The Company’s acquiescence to any breach of these Terms and Conditions and/or failure to exercise any right provided for herein shall be without prejudice to The Company’s legal rights and remedies, and shall not be held to preclude and/or debar it from exercising or seeking any of the same.
- Proud Market Company name ltd. may improve or overhaul this Agreement or any rights or obligations hereunder without the Client’s consent from time to time by posting the modified Terms on the Site.
- Any adjustment shall become effective as of the day it is published on the Site
- This Agreement has been composed in English. In case of any contradiction between the meanings of any translated versions of this
Agreement and the English language version, the meaning of the English language version shall overcome.
The Company shall communicate with the Client in English. Any other language which is suitable for both sides of the Agreement may be acceptable if discussed before.
- The Customer shall applyfor a solution according to his/her complaints to [email protected] investigation may take up to 7-10 working days. During this period Proud MarketCompany name ltd. has to review all transaction history, phone conversation records, email information and the documentation provided by the Customer. The Client has to be aware that the Company may apply for an additional information or documentation.
- In the event that no transaction has been executed through the Client’s trading account or his trading activity has beenin very low volume, for the time period defined by the Company (previously discussed between the Client and the Manager), or if the Client does not hold minimum funds in his Trading Account, the Company may charge the Trading Account with Dormant Trading commission. The minimum amount required for holding on the constant basis is defined by the Company.The rate is determined by the Company.In this case, the Client will be additionally noticed about the amount of the Dormant fee.
The Company reserves the right to close any or all of the Open Positions or/and to close the Client access to the Trading Account after the Termination of this Agreement.