Terms and Conditions
This is a legal contract between falcoFX.com and/or Falcovis Ltd. (TRNC) herein after known as (“FalcoFX”) its successors and assigns, and the party/parties (the “Client”) executing this document. Please Read Carefully.
In connection with opening an account with FalcoFX to speculate and/or purchase and/or sell foreign exchange in the international Over-the-Counter Foreign Currency markets (hereinafter referred to as “OTC”), and the receipt of such other services and products as FalcoFX may, in its sole discretion, determine to offer from time to time in the future, Client acknowledges that it has been advised and understands the following factors concerning trading in OTC, in addition to those contained in the Risk Disclosure Statement which has been provided to Client. We trade off-exchange forex transactions.
1. OTC is not traded on a regulated exchange. There are no guarantees to the credit worthiness of the counter party of your currency position. Also, there may be certain cases in which trading liquidity decreases, causing trading in a certain currency(ies) to cease, thereby preventing the liquidation of an adverse position which may result in a substantial financial loss.
2. Trading in OTC is suitable only for those sophisticated institutions or sophisticated participants financially able to withstand losses which may equal the value of margins or deposits. OTC accounts are not available through FalcoFX to non-sophisticated participants.
3. The market recommendations of FalcoFX are based solely on the judgment of FalcoFX’s personnel. These market recommendations may or may not be consistent with the market position or intentions of FalcoFX, its affiliates, and/or employees. The market recommendations of FalcoFX are based upon information believed to be reliable, but FalcoFX cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will eliminate the risk inherent in trading currency. Any market recommendations of, or information provided by, FalcoFX do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any OTC transaction. Client understands and hereby agrees that Client is capable of, and solely responsible for, assessing the merits and risks of any trade it may enter into with FalcoFX.
4. Client understands that FalcoFX does not permit its Client Representatives to either exercise discretion or manage an OTC account. If Client’s account is not being traded with Client’s authorization, Client must notify FalcoFX immediately.
5. FalcoFX’s margin policies and/or the policies of those banks/clearing houses through which trades are executed may require that additional funds be provided to properly margin Client’s account and Client is obligated to immediately meet such margin requirements. Failure to meet margin calls may result in the liquidation of any open positions with a resultant loss. FalcoFX reserves the right to refuse to accept any order.
6. Client understands that all accounts that it has with FalcoFX are non segregated and that FalcoFX will treat these accounts as such.
7. Client understands that it must carefully review the reports relating to Client’s trading posted online by FalcoFX. Pursuant to the Client Agreement, all reports of execution will be deemed final unless Client objects within two business days of being posted. All statements of account will be deemed final unless Client objects to such statements within two business days of being posted. Objections may be made initially by email or by telephone, but must be confirmed thereafter in writing.
8. Client understands that FalcoFX may establish rules and provisions for client accounts, including and not limited to minimum account size, investment time period, commissions and fees, leverage size per instrument, mark ups, rules relating to stop losses and limits, rules relating to rollovers, rules relating to margin calls, or any other financial arrangement, and that such rules and provisions may be changed by FalcoFX from time to time.
9. The Client has read and understands the Client’s obligations and rights under this Client Account Letter and the following Client Agreement and agrees and acknowledges that this Client Account Letter and the following Client Agreement will control the Client’s relationship with FalcoFX. The Client agrees that Client is fully responsible for making all final decisions as to transactions effected for Client’s account. Client has considered the foregoing factors and in view of Client’s present and anticipated financial resources, Client is willing and able to assume the substantial financial risks of OTC trading.
IT IS THE CLIENT’S RESPONSIBILITY TO FIND OUT ALL NECESSARY INFORMATION ABOUT CURRENCY TRADING AND FalcoFX’s TERMS AND CONDITIONS AND MAKE SURE THAT ALL RISKS AND ARRANGEMENTS ARE DISCUSSED AND CLEARLY UNDERSTOOD PRIOR TO ANY TRADING ACTIVITY.
