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Risk Disclosure

[:en]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary as Fxproreviews.com is not responsible for any risk.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.
4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.co.uk/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:fr]AVERTISSEMENT QUANT AUX RISQUES: Les contrats sur différence («CFD») sont des produits financiers complexes, dont la plupart n’ont pas de date d’échéance. Par conséquent, une position CFD arrive à échéance à la date à laquelle vous choisissez de fermer une position ouverte existante. Les CFD, qui sont des produits à levier, impliquent un niveau de risque élevé et peuvent conduire à la perte de tout votre capital investi. En conséquence, les CFD peuvent ne pas convenir à tous. Vous ne devez pas risquer plus que vous n’êtes prêt(e) à perdre. Avant de décider de vous lancer dans le trading, vous devriez vous assurer de comprendre les risques encourus, et tenir compte de votre niveau d’expérience. Veuillez recourir à des conseils indépendants, si nécessaire.

1. ETENDUE DE LA COMMUNICATION

1.1 L’avis de divulgation des risques («l’avis») vous est fourni en conformité avec la directive MIF sur la base du fait que vous proposez à FxPro de trader sur les CFD.

1.2 Il convient de noter qu’il est impossible pour l’avis de contenir tous les risques et les aspects qu’implique le trading de CFD; vous devez vous assurer que votre décision est prise en connaissance de cause et vous devriez à tout le moins prendre en considération les éléments suivants:

2. Description du produit

2.1 Un CFD est un accord pour acheter ou de vendre un contrat qui reflète la performance, y compris et entre autres, le forex, des métaux précieux, des contrats à terme et des actions; le bénéfice ou la perte est déterminé(e) par la différence entre le prix d’un CFD à l’achat et son prix à la vente, et vice versa. Les CFD sont négociés sur marge et il convient de noter qu’aucune livraison physique ni du CFD ni de l’actif sous-jacent n’intervient. Il convient également de noter que lorsque vous achetez, par exemple, des CFD sur actions, vous spéculez simplement sur l’augmentation ou la diminution du cours de l’action.

2.2 Les CFD fluctuent en valeur au cours de la journée; les mouvements de prix des CFD sont déterminés par un certain nombre de facteurs, y compris -mais sans s’y limiter- la disponibilité des informations sur le marché.

3. PERFORMANCE

3.1 Il convient de noter que le rendement passé des CFD n’est pas un indicateur utile de la performance future.

4. Principaux risques associés aux transactions sur CFD

4.1 Avant de trader des CFD, vous devez vous assurer que vous comprenez les risques encourus. Les CFD sont des produits à effet de levier; par conséquent, ils comportent un niveau plus élevé de risque pour votre capital que d’autres produits financiers. La valeur des CFD peut augmenter ou diminuer en fonction des conditions du marché.

4.2 En raison du fait que les CFD sont des produits à effet de levier, s’engager dans la négociation de CFD peut ne pas être approprié pour vous, et des conseils indépendants devraient être sollicités si nécessaire. Le potentiel de profit doit être équilibré, et la gestion du risque prudente, étant donné les pertes importantes qui peuvent être engendrées sur une très courte période de temps lors de la négociation de CFD.

4.3 Vous ne devez pas commencer à négocier des CFD sans comprendre les risques encourus.

5. Perte de capital

5.1 Les CFD, qui sont des produits à levier, impliquent un niveau de risque élevé et peuvent conduire à la perte de tout votre capital investi. Toutefois, il convient de noter que FxPro fonctionne selon le principe de la «protection contre le solde négatif»; cela signifie que vous ne pouvez pas perdre plus que votre investissement initial.

6. RISQUE DE CRÉDIT

6.1 Lors de la négociation des CFD, vous concluez dans les faits une transaction de gré à gré («OTC»); cela implique que toute position ouverte avec FxPro ne peut être fermée par l’intermédiaire d’une autre entité. Les transactions OTC peuvent impliquer un risque plus élevé que les opérations effectuées sur des marchés réglementés, par exemple les échanges traditionnels; cela est dû au fait que, dans les transactions de gré à gré, il n’y a pas de contrepartie centrale et que chacune des parties à la transaction supporte un certain risque de crédit (ou risque de défaut).

7. Effet de levier (ou gearing)

7.1 Le trading de CFD, contrairement aux négociations traditionnelles, vous permet de négocier sur les marchés en payant seulement une petite fraction de la valeur totale des échanges. Cependant, il convient de noter que l’effet de levier, ou “gearing” comme il est souvent appelé, signifie qu’un mouvement relativement faible du marché peut conduire à un mouvement proportionnellement beaucoup plus important de la valeur de votre position. FxPro offre des effets de levier souples, à partir de 1: 1 jusqu’à 1: 500. Dans le contexte de MetaTrader 4, chaque vendredi de 21.00 à 24.00 (heure du serveur), ou pendant toute autre période de temps spécifiée par FxPro, nous fixons un taux d’effet de levier maximum de 1: 100 pour ouvrir une position ; si cela se produit, vous serez informé(e) en conséquence.

7.2 Il convient de noter que FxPro surveillera en tout temps l’effet de levier appliqué à vos positions; FxPro se réserve le droit de diminuer l’effet de levier en fonction de votre volume de transactions.

7.3 Pour plus de détails, veuillez consulter http://www.fxpro.com

8. COMPTE SUR MARGE ET EXIGENCES

8.1 Vous devez vous assurer en tout temps que vous avez une marge suffisante sur votre compte de trading, afin de maintenir une position ouverte. En outre, vous avez besoin de surveiller en permanence les positions ouvertes afin d’éviter qu’elles ne soient clôturées en raison de l’indisponibilité des fonds; il convient de noter que l’entreprise n’est pas tenue de vous informer si cela se produit.

8.2 A un niveau de marge de 25% (vingt-cinq) sur FxPro MetaTrader 4, la compagnie a le pouvoir discrétionnaire de commencer à fermer les positions en commençant par les moins rentables. En outre, à un niveau de 20% (vingt) sur FxPro MetaTrader 4 de marge, la compagnie commencera à fermer automatiquement les positions au prix du marché, en commençant par les moins rentables.

8.3 A un niveau de marge de 40% (quarante) sur FxPro cTrader, la Compagnie a le pouvoir discrétionnaire de commencer à clore des positions au Stop Out. En outre, à un niveau de marge de 30% (trente) sur FxPro cTrader, la Compagnie commencera automatiquement -partiellement ou totalement, le cas échéant-, à clore des positions au Smart Stop Out.

Pour plus d’informations sur la logique Smart Stop Out sur cTrader, veuillez cliquer ici

9. Conditions de marché anormales

9.1 Dans des conditions de marché anormales, les CFD peuvent fluctuer rapidement pour refléter des événements imprévisibles qui ne peuvent être contrôlés ni par FxPro ni par vous. En conséquence, FxPro peut être incapable d’exécuter vos instructions au prix déclaré et une instruction ‘stop loss’ ne peut pas garantir de limiter la perte de celui-ci.

9.2 Les prix des CFD sont influencés par, entre autres choses, la mise en œuvre des programmes et des politiques gouvernementales, agricoles, commerciales et commerciales et les événements socio-économiques et politiques nationaux et internationaux.

10. CONDITIONS DES PLATEFORMES DE TRADING

10.1 Vous acceptez que la seule source fiable des informations liées aux prix est le tableau des cotations figurant sur le serveur réel / en direct; ce service peut être perturbé, et il pourrait en résulter que les informations qu’il contient ne parviennent pas au client.

10.2 Consultez régulièrement le menu «Aide» ou le Guide de l’utilisateur de la/des plateforme (s) de trading; en cas de conflit, l’Accord de service fera foi, sauf avis contraire de FxPro, à sa seule discrétion.

11. Communication

11.1 FxPro ne supporte aucune responsabilité pour toute perte qui surviendrait à la suite d’une communication adressée par nos services qui aurait été retardée ou ne serait pas parvenue à son/sa destinataire.

11.2 En outre, FxPro ne supporte aucune responsabilité pour toute perte découlant d’informations non cryptées adressées par nos services, et qui auraient été consultées via des moyens non autorisés.

11.3 FxPro ne supporte aucune responsabilité pour tous les messages internes non reçus ou non lus qui vous sont envoyés par la plateforme (s) de trading; au cas où un message n’est pas reçu ou pas lu dans les 7 (sept) jours calendaires, il est automatiquement supprimé.

11.4 Vous êtes seul(e) responsable de la confidentialité des informations qui figurent dans la communication reçue par FxPro.

11.5 En outre, vous acceptez que toute perte subie en raison de l’accès non autorisé d’un tiers à votre compte de trading n’engage pas la responsabilité de FxPro./p>

12. Evénement de force majeure

12.1 Dans le cas d’un événement de force majeure, vous acceptez toute perte en découlant.

12.2 Davantage de détails au sujet des ”événements de force majeure » sont disponibles dans l”Accord du client» (http://www.fxpro.fr/trading/products/legal).

13. Taxation

13.1 Bien que le fait d’investir dans les CFD n’implique pas de livraison physique de l’instrument financier sous-jacent, des conseils indépendants en matière fiscale doivent être sollicités, si nécessaire, afin d’établir si vous êtes assujetti(e) à l’impôt, y compris au droit de timbre.

14. Examen des comptes

14.1 Sur la/les plateforme(s) de trading, vous pouvez consulter tous vos comptes de trading, y compris -mais non seulement- les positions ouvertes et fermées. En outre, via FxPro Direct ( http://direct.fxpro.com ), vous pouvez gérer votre compte et déposer ou retirer de l’argent en fonction de vos besoins de trading.

15. FRAIS ET AUTRES CONSIDERATIONS

15.1 Avant de commencer le trading sur CFD, vous devez considérer les coûts impliqués tels que les spreads (y compris la majoration, le cas échéant), les commissions et les swaps. Tous les coûts ne sont pas représentés en termes monétaires (par exemple, certains peuvent apparaître comme un pourcentage de la valeur d’un CFD). FxPro se réserve le droit de modifier, sporadiquement, l’un ou l’autre des coûts applicables au trading des CFD; vous comprenez et acceptez que l’information la plus à jour concernant les coûts est celle qui figure en ligne sur le site de FxPro.

16. Valeur du swap

16.1 Un swap est l’intérêt ajouté ou déduit pour la tenue d’une position tout au long de la nuit, d’un jour sur l’autre. Selon la position détenue et les taux d’intérêt de la paire de devises concernée dans la transaction, votre compte de trading peut être soit crédité, soit débité en conséquence. Votre compte de trading est réconcilié tous les jours à 23:59:31 (heure du serveur) et le montant résultant automatiquement converti dans la monnaie dans laquelle votre compte de trading est libellé.

Le swap pour une position ouverte le mercredi et gardée ouverte toute la nuit est trois fois supérieur à celui des autres jours; la raison en est que la date de valeur d’une telle position serait normalement samedi, mais du fait que les banques sont fermées ce jour, la date de valeur est le lundi et le client encourt un supplément de 2 (deux) jours d’intérêt. De vendredi à lundi, le swap est facturé une fois. Veuillez noter que les taux d’intérêt de roll-over (refinancement) pratiqués par FxPro sont basés sur les taux interbancaires; FxPro met à jour ces taux d’intérêt de roll-over aussi souvent qu’il le juge nécessaire. Vous acceptez d’être informé(e) de la valeur du swap applicable en visitant le site FxPro. En outre, vous avez la responsabilité de vérifier la valeur du swap applicable avant de placer une instruction de trading.[:de]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.de/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:it]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.it/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:hu]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.hu/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:pl]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:100.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.pl/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:pt]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

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9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.pt/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:ru]ПРЕДУПРЕЖДЕНИЕ О РИСКАХ: Контракты на разницу (CFD) являются сложными финансовыми продуктами, большинство из которых не имеет установленного срока. Поэтому срок расчетов по позиции в CFD наступает в день, когда вы решите закрыть имеющуюся открытую позицию. CFD, которые представляют собой маржинальные продукты, несут в себе высокий уровень риска и могут привести к утрате всего вашего инвестиционного капитала. Поэтому CFD не могут являться подходящим инструментом для всех инвесторов. Вам не следует рисковать тем, что вы не готовы потерять. Перед началом торговли необходимо убедиться в том, что вы понимаете все риски и учитываете свой уровень опыта. В случае необходимости обращайтесь за помощью независимых консультантов.

1. СОДЕРЖАНИЕ УВЕДОМЛЕНИЯ

1.1 Настоящее уведомление о рисках («Уведомление») предоставляется вам в соответствии с Директивой о рынках финансовых инструментов (MiFID), исходя из того, что вы намереваетесь торговать с FxPro, используя CFD.

1.2 Следует отметить, что Уведомление не может включать информацию о всех рисках и аспектах, связанных с торговлей CFD; вам необходимо убедиться в том, что ваше решение подкреплено надлежащей информацией, и вы должны, как минимум, учитывать следующие аспекты:

2. ОПИСАНИЕ ПРОДУКТА

2.1 CFD – это соглашение о покупке или продаже контракта, отражающее, в том числе, ситуацию с иностранной валютой, драгоценными металлами, фьючерсами и акциями; прибыль или убыток определяются разницей между ценой покупки и ценой продажи CFD и наоборот. CFD покупаются и продаются с маржей, и, следует отметить, что физической передачи CFD, либо лежащего в его основе актива при этом не происходит. Следует также учитывать, что если вы, к примеру, покупаете CFD на акции, вы играете только на подъеме или падении стоимости акции.

2.2 Стоимость CFD варьируется в течение дня; движения цен на CFD определяются рядом факторов, включая, но не ограничиваясь, доступностью информации на рынке

3. ПОКАЗАТЕЛИ

3.1 Следует отметить, что прошлые показатели CFD не гарантируют наличие таких показателей в будущем.

4. ОСНОВНЫЕ РИСКИ, СВЯЗАННЫЕ СО СДЕЛКАМИ В CFD

4.1 Перед началом торговли CFD вы должны убедиться в том, что вы понимаете все риски. CFD являются маржинальными продуктами, и поэтому они несут в себе высокий риск для вашего капитала по сравнению с другими финансовыми продуктами. Стоимость CFD может увеличиваться или уменьшаться в зависимости от состояния рынка.

4.2 В связи с тем, что CFD являются маржинальными продуктами, работа с CFD может являться для вас неподходящим вариантом, и при необходимости вам следует обратиться за помощью к независимым консультантам. Возможности для получения прибыли должны подкрепляться разумным управлением рисками, учитывая значительные убытки, которые могут быть понесены за весьма короткий период времени в случае торговли CFD.

4.3 Вам не следует начинать торговлю CFD, если вы не понимаете все сопутствующие риски.

5. КАПИТАЛЬНЫЕ УБЫТКИ

5.1 Являясь маржинальными продуктами, CFD несут в себе высокий уровень риска и могут привести к утрате всего вашего инвестиционного капитала. Тем не менее, следует отметить, что FxPro работает на базе защиты от отрицательного баланса, и, таким образом, ваш убыток не может превысить сумму ваших первоначальных вложений.

6. КРЕДИТНЫЙ РИСК

6.1 При торговле CFD вы фактически заключаете внебиржевые сделки (ОТС); это значит, что позиция, открытая на FxPro, не может быть закрыта другой организацией. Сделки OTC могут нести в себе более высокий риск по сравнению со сделками на регулируемых рынках, к примеру, на традиционных биржах; это связано с тем, что во внебиржевых сделках отсутствует центральный контрагент, и любая из сторон несет определенный кредитный риск (или риск неисполнения обязательств).

7. КРЕДИТНОЕ ПЛЕЧО

7.1 В отличие от традиционной торговли, торговля CFD позволяет работать на рынках, уплачивая лишь небольшую долю от итоговой рыночной стоимости. Тем не менее, следует учесть, что термин кредитное плечо означает, что относительно небольшое движение на рынке может вызвать пропорционально более значительное движение стоимости вашей позиции. FxPro предлагает гибкое кредитное плечо, начиная с 1:1 и заканчивая 1:500.

7.2 Следует отметить, что Компания постоянно отслеживает кредитное плечо, применяемое к вашим позициям; Компания оставляет за собой право уменьшать ваше кредитное плечо в зависимости от вашего объема торговых операций.

7.3 Подробную информацию можно получить на сайте http://www.fxpro.com

8. МАРЖА НА СЧЕТЕ И ТРЕБОВАНИЯ

8.1 Чтобы поддерживать вашу позицию открытой, вам необходимо обеспечить постоянный достаточный уровень маржи на вашем счете. Кроме того, вы должны постоянно отслеживать все открытые позиции, чтобы не допустить их закрытия в связи с отсутствием средств. Следует отметить, что Компания не обязана уведомлять вас о таких случаях.

8.2 При достижении уровня маржи 25% (двадцать пять) для FxPro MetaTrader 4, компания имеет право по своему усмотрению начать закрывать позиции, начиная с самого убыточной. Кроме того, на уровне маржи 20% (двадцати) для FxPro MetaTrader 4, фирма начнет автоматическое закрытие позиций по рыночной цене, начиная с самой убыточной.

8.3 При достижении уровня маржи 40% (сорок) для FxPro cTrader, фирма имеет право по своему усмотрению начать закрывать позиции по Stop Out. Кроме того, на уровне маржи 30% (тридцать) для FxPro cTrader, фирма начнет автоматическое частичное или полное, если это необходимо, закрытие позиций по Smart Stop Out.

Чтобы получить дополнительную информацию о логике работы cTrader Smart Stop Out, пожалуйста, перейдите по ссылке.

9. АНОМАЛЬНОЕ СОСТОЯНИЕ РЫНКА

9.1 При аномальном состоянии рынка могут происходить быстрые и существенные колебания CFD, отражающие непредвиденные события, которые не могут контролироваться ни Компанией, ни вами. Как следствие, FxPro может оказаться не в состоянии выполнить ваши торговые поручения по заявленной цене, а стоп-лосс не может гарантировать ограничение убытка от таких действий.

9.2 На цены по CFD, среди прочего, оказывают влияние правительственные, сельскохозяйственные, коммерческие и торговые программы и политики, а также внутренние и международные социально-экономические и политические события.

10. СОСТОЯНИЕ ТОРГОВОЙ ПЛАТФОРМЫ

10.1 Вы признаете, что единственным надежным источником информации о цене являются Котировки, которые размещаются на сервере в режиме реального времени. В работе этого сервиса могут происходить перебои, и, как следствие, информация о цене может не дойти до клиента.

10.2 Вам необходимо постоянно обращаться к меню ‘Help’ или UserGuide на торговой платформе (платформах); при наличии противоречий преимущественную силу имеет сервисное соглашение, если FxPro по своему усмотрению не определит другой порядок

11. СВЯЗЬ

11.1 FxPro не несет ответственности за убыток, понесенный в связи с тем, что сообщение, отправленное вам Компанией, не было получено, либо было получено с опозданием.

11.2 FxPro также не несет ответственности за убыток, понесенный в связи с несанкционированным доступом к незашифрованной информации, которая была направлена вам Компанией.

11.3 FxPro не несет ответственности за неполученные или непрочитанные внутренние сообщения, направленные вам через торговую платформу (платформы); в случае, если сообщение не было получено или прочитано в течение 7 (семи) календарных дней, сообщение автоматически удаляется.

11.4 Вы несете единоличную ответственность за обеспечение конфиденциальности информации, которая содержится в сообщениях, полученных FxPro.

11.5 Кроме того, вы признаете, что FxPro не несет ответственности за убыток, возникающий вследствие несанкционированного доступа третьего лица к вашему торговому счету.

12. FORCE MAJEURE EVENT

12.1 В случае форс-мажорных обстоятельств вы принимаете на себя все возникающие убытки.

12.2 Более подробная информация о форс-мажорных обстоятельствах содержится в «Клиентском соглашении» (http://www.fxpro.ru/trading/products/legal).

13. НАЛОГООБЛОЖЕНИЕ

13.1 Несмотря на то, что вложения в CFD не предполагают физическую передачу лежащего в их основе финансового инструмента, следует получить независимую консультацию по налогообложению, если это необходимо, чтобы установить, являетесь ли вы плательщиком какого-либо налога, включая государственные пошлины.

14. ОБЗОР СЧЕТОВ

14.1 При помощи торговой платформы (платформ) вы можете просматривать ваши торговые счета, включая, но не ограничиваясь, открытыми и закрытыми позициями. Кроме того, с помощью FxPro Direct (http://direct.fxpro.com) вы можете управлять вашим счетом и размещать или отзывать денежные средства, в зависимости от ваших торговых потребностей.

15. РАСХОДЫ И ПРОЧИЕ ФАКТОРЫ

15.1 Прежде, чем приступить к торговле CFD, вам необходимо учесть соответствующие расходы, такие как спреды (включая надбавку к спреду (mark-up), если она применима), комиссию (комиссии) и swap. Не все расходы представлены в денежном выражении (например, расходы могут быть выражены как процент от стоимости CFD). FxPro оставляет за собой право периодически изменять любые расходы, применимые к торговле CFD; вы выражаете свое согласие с тем, что самая актуальная информация по расходам публикуется онлайн на сайте FxPro.

16. ЗНАЧЕНИЕ SWAP

16.1 Swap – это процент, начисляемый или вычитаемый за то, что сделка остается открытой на ночь. В зависимости от позиции и процентных ставок по валютной паре, участвующей в сделке, процент может как начисляться, так и списываться с вашего торгового счета. Сверка по вашему торговому счету происходит ежедневно в 23:59:31 (по времени работы сервера), и полученная сумма автоматически конвертируется в валюту вашего торгового счета.

Swap по позиции, открытой в среду и оставленной открытой на ночь, в три раза превышает swap за другие дни; это объясняется тем, что дата валютирования сделки, которая в среду остается открытой, как правило, приходится на субботу, но т.к. суббота не является банковским днем, дата валютирования переносится на понедельник, и клиент уплачивает процент за 2 (два) дополнительных дня. С пятницу по понедельник swap начисляется один раз. Необходимо учесть, что процентные ставки rollover, начисленные FxPro, основаны на межбанковских ставках; FxPro обновляет такие процентные ставки rollover по мере необходимости. Вы согласны с тем, что информацию о действующем значении swap вы будете получать при посещении сайта FxPro. Вы также обязаны проверять действующее значение swap перед размещением инструкции о торговой операции.[:es]DECLARACIÓN DE RIESGO: Los contratos por diferencias son productos financieros complejos, sin fecha de vencimiento en el mayor de los casos. Por tanto, una posición en CFDs vence en la fecha que elija para salir de la posición abierta. Los CFDs, al ser productos apalancados, conllevan un alto nivel de riesgo y Usted puede incurrir en la pérdida de todo su capital invertido. Es posible que estos productos no resulten adecuados para todos los inversores; por lo tanto, asegúrese de comprender plenamente los riesgos que implican, haga un seguimiento constante de la inversión y busque asesoramiento independiente en caso de ser necesario.

1. ALCANCE DECLARACIÓN

1.1 La Declaración de Riesgo (’Declaración’) se le comunica de acuerdo a MiFID sobre la base de que propone operar CFDs con FxPro.

1.2 Debe tenerse presente que es imposible para la Declaración contener todos los riesgos y aspectos que conlleva el trading con CFDs; necesita entender que su decisión debe hacerse sobre una base informativa y como mínimo debería tener en cuenta lo siguiente:

2. DESCRIPCIÓN DEL PRODUCTO

2.1 Un CFD es un acuerdo para comprar o vender un contrato que refleja el rendimiento de, incluyendo entre otros, forex, metales preciosos, futuros y acciones; el beneficio o pérdida está determinada por la diferencia entre el precio del precio de compra y de venta y viceversa. Los CFDs se operan sobre margen y se debe tener presente que no hay entrega física del CFD o del activo subyacente replicado. Por tanto, cuando está adquiriendo, por ejemplo, CFDs sobre acciones está especulando meramente sobre un aumento o disminución del valor de la acción.

2.2 Los CFDs fluctúan en valor durante el día; el movimiento de precio de los CFDs está determinado por un número de factores incluyendo la disponibilidad de información del mercado.

3. RENDIMIENTO

3.1 Debe tener presente que rendimientos pasados de CFDs no son indicadores de futuros comportamientos.

4. RIESGOS PRINCIPALES ASOCIADOS A LA OPERATIVA CON CFDs

4.1 Antes de operar con CFDs, debe comprender los riesgos que conlleva. Los CFDs son productos apalancados; por tanto, conllevan un mayor nivel de riesgo comprado con otros productos financieros. El valor de los CFDs puede incrementarse o decrecer en función de las condiciones de mercado.

4.2 Debido a que los CFDs son productos apalancados, el trading con CFDs pudiera no ser adecuado para Usted y debiera buscar asesoramiento independiente en caso de ser necesario. Los beneficios potenciales deben ser ponderados con una gestión del riesgo adecuada dado que potenciales pérdidas significativas pudieran darse en cortos períodos de trading operando CFDs.

4.3 No debiera comenzar a operar CFDs sin comprender los riesgos que conlleva.

5. PÉRDIDA CAPITAL

5.1 Los CFDs, al ser productos apalancados, conllevan un alto nivel de riesgo y pudieran resultar en la pérdida de todo su capital invertido. Sin embargo, se debe tener presente que FxPro opera un ‘sistema de protección contra balance negativo‘; esto significa que no puede perder más que su capital invertido.

6. RIESGO CRÉDITO

6.1 Al operar CFDs, está efectuando una transacción over-the-counter (‘OTC’); esto implica que cualquier operación abierta con FxPro no puede ser cerrada con otra entidad. Las transacciones OTC pueden conllevar mayores riesgos comparadas con operaciones realizadas en mercados regulados, por ejemplo mercados tradicionales; esto es debido al hecho de que, en operaciones OTC, no existe una contraparte central y todas las partes de dicha transacción conllevan un cierto riesgo de crédito (riesgo de default).

7. APALANCAMIENTO (O GEARING)

7.1 El trading con CFDs, al contrario que la operativa tradicional le permite operar los mercados depositando únicamente una pequeña fracción del total del valor operado. Sin embargo, debe tenerse presente que el apalancamiento o gearing resulta en que un movimiento de mercado relativamente pequeño puede ocasionar un movimiento proporcionalmente mucho mayor en el valor de su posición. FxPro ofrece apalancamiento flexible desde 1:1 hasta 1:500. Para la operativa con MetaTrader 4, cada Viernes desde las 21-.00 hasta las 24:00 horario del servidor, o durante cualquier oro período especificado por FxPro, la Firma fija un máximo apalancamiento para abrir posiciones de 1:100; si esto sucede será notificado al respecto.

7.2 Debe tenerse presente que la Firma monitorizará el apalancamiento seleccionado para sus posiciones en todo momento; la Firma se reserva el derecho de disminuir su apalancamiento en función de su volumen de trading.

7.3 Para más detalle refiérase a http://www.fxpro.com

8. REQUERIMIENTOS MARGEN CUENTA

8.1 Debe asegurar que tiene suficiente margen en su cuenta de trading en todo momento para mantener una posición abierta. De igual modo, debe monitorizar constantemente cualquier posición abierta para evitar el cierre de posiciones debido a unos fondos insuficientes; debe tenerse en cuenta que la Firma no es responsable de notificarle dichas situaciones.

8.2 Para niveles de margen del 25% (veinticinco) para FxPro MetaTrader4, la Firma posee la potestad discrecional de empezar a cerrar posiciones comenzando por la menos rentable. De igual modo, para niveles de margen del 20% (veinte) para FxPro MetaTrader4, la Firma cerrará todas las posiciones a precio de mercado comenzando por la menos rentable.

8.3 Para niveles de margen del 40% (cuarenta) para FxPro cTrader, la Firma tiene la posibilidad discrecional de comenzar a cerrar posiciones en Stop Out. De igual modo,para niveles de margen del 30% (treinta) para FxPro cTrader, la Firma automáticamente comenzará a cerrar parcialmente o totalmente si fuera necesario, posiciones en Smart Stop Out.

Para más información sobre la lógica del Smart Stop Out de cTrader, por favor haga click aquí

9. CONDICIONES DE MERCADO ANORMALES

9.1 Bajo condiciones anormales de mercado, los CFDs pueden fluctuar rápidamente reflejando eventos no previstos e imposibles de controlar tanto para Usted como para la Firma. Como resultado, Fxpro pudiera ser incapaz de de ejecutar sus instrucciones al precio declarado y una orden de no garantiza un límite a una potencial pérdida.

9.2 Los precios de los CFDs están influenciados por, entre otras cosas, la implementación de políticas y programas gubernamentales, comerciales o agrícolas y eventos nacionales e internacionales socio económicos y políticos.

10. CONDICIONES PLATAFORMA TRADING

10.1 Usted acepta que la única fuente de información de los precios son las Cotizaciones representadas en el servidor real; este servicio pudiera sufrir disrupciones y, como resultado, la información sobre el precio pudiera no llegar al cliente.

10.2 Debe Usted consultar regularmente el menú ‘Ayuda’ o Manual de Usuario de la(s) plataforma(s) de trading; en caso de conflicto el Acuerdo de Servicios prevalecerá, a no ser que FxPro determine, a su libre discreción, una solución diferente.

11. COMUNICACIONES

11.1 FxPro no es responsable de cualquier pérdida resultante de una comunicación de la Firma recibida con retraso o no recibida.

11.2 De igual modo, FxPro no es responsable de ninguna pérdida acontecida como resultado del envío de información no encriptada por la Firma a la que un tercero haya accedido de manera no autorizada.

11.3 FxPro no es responsable de ningún mensaje interno no leído o no recibido enviado vía la(s) plataformas de trading; un mensaje no recibido o leído en un período de 7 (siete) días laborables es automáticamente borrado.

11.4 Es Usted el único responsable de la privacidad de cualquier información recibida por FxPro.

11.5 De igual modo, Usted acepta que cualquier pérdida derivada de un acceso no autorizado por parte de un tercero a su cuenta de trading no es responsabilidad de FxPro.

12. CASO FUERZA MAYOR

12.1 En caso de Fuerza mayor Usted acepta cualquier tipo de pérdida.

12.2 Más detalles sobre ‘Evento Force Majeure’ disponible en el ‘Client Agreement’ (http://www.fxpro.es/trading/products/legal).

13. IMPUESTOS

13.1 Aunque invertir en CFDs no conlleva entrega física del instrumento financiero subyacente, asesoramiento independiente sobre tributos y fiscalidad es recomendable para determinar si está Usted sujeto a tasas o impuestos.

14. GESTIÓN CUENTA

 

14.1 Mediante la(s) plataforma(s) de trading, puede revisar cualquiera de sus cuentas de trading, esto incluye por ejemplo abrir y cerrar posiciones. De igual modo, vía FxPro Direct (http://direct.fxpro.com) puede gestionar su cuenta y depositar o reembolsar fondos en función de sus necesidades de trading.

 

15. COSTES Y OTRAS CONSIDERACIONES

15.1 Antes de comenzar a opera con CFDs debe considerar los costes englobados tales como el spread(s) (incluyendo un mark-up, si aplicable), comisión(es) y swap(s). No todos los costes están representados en costes monetarios (por ejemplo, costes pudieran aparecer como un porcentaje del valor de un CFD). FxPro se reserva el derecho a modificar cualquier coste aplicable a la operativa con CFDs; Usted comprende y acepta que la información actualizada está disponible en el sitio de FxPro.

16. VALOR SWAP

16.1 Un swap es el interés añadido o deducido por mantener una posición abierta overnight. Dependiendo de si la posición mantenida y los tipos de interés del par de divisas operado, su cuenta de trading pudiera recibir un monto o un cargo. Su cuenta de trading es reconciliada cada día a las 23:59:31 (horario del servidor) y el importe resultante será automáticamente convertido a la divisa denominada de su cuenta.

El swap para una posición abierta el Miércoles y mantenida overnight tendrá un cargo tres veces superior a la de cualquier otro día; la razón es que la fecha de vencimiento de un trade mantenido overnight un Miércoles sería normalmente un Sábado, pero debido a que los bancos están cerrados, le fecha valor sería Lunes y los clientes incurren en 2 (dos) días extra de interés. De Viernes a Lunes el swap será cargado en una ocasión. Por favor, tenga presente que el interés de rollover cargado por FxPro se basa en las tasas interbancarias; FxPro actualiza dichos intereses de rollover cuando estima necesario. Usted acepta que será notificado del valor de swap aplicable visitando el sitio de FxPro. De igual modo, Usted es responsable de verificar el valor del swap aplicable con anterioridad a introducir una operación de trading.[:ar]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.ae/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:ms]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.com.my/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:id]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro-indonesia.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro-indonesia.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:zh]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro-india.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:cs]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.jpn.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:hi]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro-india.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:ko]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.jpn.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:ur]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro-india.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading[:th]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.jpn.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:vi]Cảnh báo rủi ro: Hợp đồng Chênh lêch (CFDs) là sản phẩm tài chính phức tạp, đa số chúng không có ngày hết hạn. Do đó, một lệnh sẽ đáo hạn vào ngày bạn chọn đóng các lệnh đang mở đó. CFDs, là một sản phẩn sử dụng đòn bẩy, dẫn đến mức độ rủi ro cao và có thể gây ra việc thua lỗ tất cả lượng vốn bạn đầu tư. Do đó, CFDs không phù hợp với tất cả mọi cá nhân. Bạn không nên liều lĩnh với số tiền nhiều hơn cái mà bạn không sẵn sàng mất. Trước khi bạn quyết định giao dịch, bạn nên chắc chắn rằng bạn hiểu những rủi ro liên quan và tin tưởng vào kinh nghiệm của mình. Bạn nên tìm kiếm những lời khuyên khách quan, nếu cần thiết.

1. PHẠM VI CẢNH BÁO

1.1 Cảnh báo về tiết lộ rủi ro (‘Cảnh báo’) được cung cấp cho bạn dựa theo MiFID bởi bạn có ý định sẽ giao dịch CFDs với FxPro.

1.2 Lưu ý rằng điều đó là không thể để Cảnh báo này có thể đề cập được tất cả các rủi ro và khía cạnh liên quan đến CFDs bạn cần chắc chắn rằng quyết định của bạn cần được cân nhắc những yếu tố sau:

2. MÔ TẢ SẢN PHẨM

2.1 CFD là một hợp đồng mua hoặc bán cái mà phản ánh hiệu suất của, bao gồm giữa các sản phẩm khác, ngoại hối, kim loại quý, hợp đồng tương lai và cổ phiếu, lời hay lỗ được quyết định bởi sự chênh lệch giữa giá của CFD khi được mua so với khi được bán và ngược lại. CFDs được giao dịch dựa vào ký quỹ (margin) và sẽ không có bất kỳ sự nắm giữ về mặt vật chất nào của hợp đồng CFDs và cả những sản phẩm đang được mua/bán. Lưu ý rằng, khi bạn giao dịch, ví dụ, CFDs với cổ phiếu bạn chỉ đầu cơ vào sự tăng hoặc giảm của giá trị cổ phiếu.

2.2 CFDs biến động từng ngày, sự di chuyển của giá được quyết định bởi một số nguyên nhân bao gồm, nhưng không giới hạn trong, tính khả dụng của thông tin trên thị trường.

3. HIỆU SUẤT

3.1 Lưu ý rằng hiệu suất trong quá khứ của CFDs không phải là một chỉ thị hữu ích cho hiệu suất trong tương lai.

4. NHỮNG RỦI RO CHÍNH LIÊN QUAN ĐẾN GIAO DỊCH CFDs

4.1 Trước khi giao dịch CFDs, bạn cần chắc chắn rằng bạn hiểu các rủi ro liên quan. CFDs là sản phẩm đòn bẩy, vì thế nó có mức độ rủi ro cao với vốn của bạn khi so sánh với các sản phẩm tài chính khác. Giá trị của CFDs sẽ tăng và giảm dựa vào điều kiện thị trường.

4.2 Vì tính chất đòn bẩy của CFDs, tham gia vào thị trường này có thể sẽ không phù hợp với bạn và những lời khuyên khách quan là cần thiết. Khả năng có lời là cân bằng với việc quản lý rủi ro chặt chẽ cái mà có thể dẫn đến việc tuy lỗ đáng kể trong một khoảng thời gian ngắn khi giao dịch CFDs.

4.3 Bạn không nên giao dịch CFDs trừ khi hiểu những rủi ro liên quan

5. THUA LỖ VỐN

5.1 CFDs, là một sản phẩm sử dụng đòn bẩy, dẫn đến mức độ rủi ro cao và có thể gây ra việc thua lỗ tất cả lượng vốn bạn đầu tư. Tuy nhiên, lưu ý rằng FxPro thực hiện “Chính sách bảo vệ tiền vốn âm”, có nghĩa rằng bạn không thua lỗ quá số tiền đã đầu tư ban đầu.

6. RỦI RO TÍN DỤNG

6.1 Khi giao dịch CFDs, bạn sẽ tham gia vào một giao dịch OTC (over -the-counter: thị trường chứng khoán phi tập trung), điều này có nghĩa là các lệnh được mở với FxPro không thể đóng với các bên khác. OTC có thể chứa đựng nhiều rủi ro hơn các loại giao dịch thị trường thông thường, ví dụ giao dịch chứng khoán truyền thống, đó là bởi vì OTC không có đơn vị trung tâm hoặc các bên khác quản lý những rủi ro tín dụng (rủi ro vỡ nợ).

7. ĐÒN BẨY

7.1 CFD, không giống các giao dịch truyền thống, cho phép bạn giao dịch mà chỉ cần trả một khoản nhỏ cho giá trị toàn hợp đồng. Tuy nhiên, cũng nên lưu ý rằng đòn bẩy, như đã nói, một biến động nhỏ trên thị trường có thể dẫn tới những biến động lớn hơn trên giá trị toàn vị thế mà bạn đang nắm giữ theo tỉ lệ tương ứng. FxPro thường cung cấp đòn bẩy linh động bắt đầu từ 1:1 đến 1:500.

7.2 Nên lưu ý rằng Công ty có thể điều tiết mức đòn bẩy cho các lệnh của bạn, ở mọi thời điểm, Công ty giữ quyền giảm mức đòn bẩy tùy thuộc vào khối lượng giao dịch.

7.3 Các thông tin khác tại http://www.fxpro.com

8. TÀI KHOẢN VÀ YÊU CẦU KÝ QUỸ

8.1 Bạn cần chắc chắn rằng bạn có đủ quỹ cho tài khoản giao dịch của mình, tại mọi thời điểm, để giữ các lệnh mở. Thêm vào đó, bạn cần liên tục điều tiết mọi lệnh của mình nhằm tránh việc lệnh bị đóng bởi việc không đủ quỹ, nên lưu ý rằng Công ty không chịu trách nhiệm thông báo tới bạn cho những trường hợp này.

8.2 Ở mức margin 25% với FxPro MetaTrader4, Công ty, với sự thận trọng, sẽ bắt đầu đóng các lệnh bắt đầu từ lệnh thua lỗ nhất. Khi margin là 20% với FxPro MetaTrader4, Công ty sẽ tự động đóng các lệnh tại giá thị trường, bắt đầu từ lệnh thua lỗ nhất.

8.3 Tại mức Margin Level 40% (bốn mươi) tại FxPro cTrader, Công ty giữ quyền bắt đầu đóng lệnh như là “Stop Out”. Thêm vào đó, tại mức Margin Level 30% (ba mươi) của FxPro cTrader sẽ tự động thực hiện đóng lệnh từ từng phần đến toàn bộ như là “Smart Stop Out”.

Để có thêm thông tin chi tiết về cTrader Smart Stop Out vui lòng vào đây

9. ĐIỀU KIỆN THỊ TRƯỜNG BẤT THƯỜNG

9.1 Dưới điều kiện bất thường, CFDs thường biến động mạnh và phản ánh những sự kiện khó đoán định và không thể kiểm soát bởi cả khách hàng cũng như Công ty. Do đó, FxPro có thể sẽ không thể thực thi yêu cầu của bạn ở giá mà bạn mong muốn và một lệnh “stop loss” không hoàn toàn đảm bảo mức giới hạn của thua lỗ sau đó.

9.2 Giá của CFD biến động bởi, và với những yếu tố khác, sự thực thi của những chương trình, chính sách liên quan đến chính trị, nông nghiệm, thương mại và buôn bán và các sự kiện chính trị, kinh tế xã hội trong và ngoài nước.

10. ĐIỀU KIỆN GIAO DỊCH TRÊN PHẦN MỀM

10.1 Bạn chấp thuận rằng nguồn đáng tin cậy về giá duy nhất là những Giá được hiển thị trên server thật-real, dịch vụ có thể bị gián đoạn và có thể dẫn đến việc giá sẽ không thể truyền được đến khách hàng.

10.2 Bạn nên tham khảo mục Giúp đỡ – Help và Hướng dẫn người dùng -UserGuide của phần mềm, nếu một xung đột xảy ra, bản Hợp đồng Dịch vụ -Service Agreement sẽ có ưu thế trừ khi FxPro, với sự thận trọng, có đưa ra các quyết định khác.

11. SỰ GIAO TIẾP

11.1 FxPro không chịu bất kì trách nhiệm nào liên quan đến thua lỗ cái mà tạo ra bởi sự chậm, hoặc không nhận được thông báo được gửi tới bạn từ FxPro.

11.2 Hơn nữa, FxPro không chịu trách nhiệm cho những thua lỗ gây ra bởi thông tin gửi tới bạn từ Fxpro không được đồng bộ cái mà được truy cập thông qua những phương tiện không chính chủ.

11.3 FxPro không chịu trách nhiệm cho bất kỳ tin nhắn nội bộ không được nhận, không được đọc cái mà được gửi tới bạn thông qua (các) phần mềm giao dịch; trong trường hợp tin nhắn không được nhận và đọc trong vòng bảy (7) ngày, tin nhắn sẽ tự động bị xóa.

11.4 Bạn sẽ hoàn toàn chịu trách nhiệm cho sự bảo mật của bất kì thông tin nào mà bạn nhận được từ FxPro.

11.5 Hơn nữa, bạn chấp thuận rằng mọi thua lỗ cái mà gây ra bởi những sự truy cập không chính chủ của bên thứ ba vào phần mềm của bạn sẽ không phải là trách nhiệm của FxPro.

12. SỰ KIỆN BẤT KHẢ KHÁNG

12.1 Trong điều kiện bất khả kháng, bạn sẽ chấp thuận những thua lỗ xảy ra.

12.2 Thông tin chi tiết vui lòng đọc “Sự kiện bất khả kháng”trong “Hợp đồng khách hàng” (http://www.fxpro-vn.com/trading/products/legal).

13. Thuế

13.1 Mặc dù đầu tư CFDs không bao gồm việc nắm giữ các sản phẩm về mặt vật lý, những tư vấn độc lập về thuế vẫn nên được tham khảo, nếu cần thiết, để biết rằng bạn có cần nộp thuế hay không, bao gồm cả Stamp duty.

14. KIỂM TRA TÀI KHOẢN

14.1 Thông qua (các) phần mềm giao dịch, bạn có thể kiểm tra bất kỳ thông tin nào của tài khoản của bạn. Ngoài ra, thông qua FxPro Direct (http://direct.fxpro.com) bạn có thể quản lý tài khoản của mình, nạp/ rút tiền theo mong muốn.

15. CHI PHÍ VÀ CÁC CHI TIẾT KHÁC

15.1 Trước khi giao dịch CFDs, bạn cần quan tâm đến chi phí liên quan ví dụ chênh lệch Spread (bao gồm cả sự gia tăng -mark-up nếu có), hoa hồng và phí swap. Không phải tất cả chi phí đều được để cập trong điều khoản (ví dụ: chi phí có thể xuất hiện như là một phần giá trị của CFD). FxPro giữ quyền thay đổi, qua thời gian, bất kì khoản phí nào trong giao dịch CFDs, bạn hiểu và chấp nhận rằng các thông tin mới về các chi phí đều có sẵn trên trang web của FxPro.

16. GIÁ TRỊ SWAP

16.1 Một chi phí swap là một khoản lãi được cộng thêm hoặc trừ đi khi giữ một lệnh qua đêm. Dựa vào vị thế mà bạn đang giữ và tỉ lệ lãi xuất của cặp tiền trong giao dịch mà bạn sẽ được cộng thêm hoặc trừ đi khoản này. Tài khoản giao dịch của bạn sẽ được cập nhật hàng ngày vào 23:59:31 (giờ máy chủ) và phí này sẽ được quy đổi tự động về loại tiền tệ bạn chọn cho tài khoản của mình.

Phí chuyển đổi-swap cho các vị thế được giữ vào qua đêm ngày Thứ Tư sẽ được tính 3 lần so với các ngày khác, lý do của việc này là để số ngày giữ lệnh qua thứ Tư sẽ tương đương và được coi như giữ qua thứ Bảy, vì ngân hàng đóng cửa vào 2 ngày cuối tuần nên những khách hàng giữ lệnh từ thứ Sáu đến thứ Hai sẽ chỉ tính là 1 ngày. Lưu ý rằng tỉ giá lãi suất này của FxPro dựa vào tỉ giá của ngân hàng, FxPro cập nhật tỉ giá này thường xuyên khi cần thiết. Bạn đồng ý rằng bạn sẽ theo dõi thông tin swap trên trang web của FxPro. Hơn thế, bạn có trách nhiệm kiểm tra những thông tin swap này trước khi đặt các lệnh giao dịch.[:ja]RISK WARNING: Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.

1. SCOPE OF THE NOTICE

1.1 The Risk Disclosure Notice (‘the Notice’) is provided to you in accordance with MiFID on the basis that you are proposing to trade with FxPro in CFDs.

1.2 It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFDs; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

2. PRODUCT DESCRIPTION

2.1 A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, futures and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease.

2.2 CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.

3. PERFORMANCE

3.1 It should be noted that past performance of CFDs is not a useful indicator of future performance.

4. MAIN RISKS ASSOCIATED WITH TRANSACTIONS IN CFDs

4.1 Prior to trading CFDs, you need to ensure that you understand the risks involved. CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of CFDs may increase or decrease depending on market conditions.

4.2 Due to the fact that CFDs are leveraged products, engaging in CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading CFDs.

4.3 You should not commence trading in CFDs unless you understand the risks involved.

5. CAPITAL LOSS

5.1 CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that FxPro operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

6. CREDIT RISK

6.1 When trading CFDs, you are effectively entering into an over-the-counter (‘OTC’) transaction; this implies that any position opened with FxPro cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).

7. LEVERAGE (OR GEARING)

7.1 CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. FxPro offers flexible leverage starting from 1:1 up to 1:500.

7.2 It should be noted that the Firm shall monitor the leverage applied your positions, at all times; the Firm reserves the right to decrease the leverage depending on your trading volume.

7.3 For further details refer to http://www.fxpro.com

8. MARGIN ACCOUNT AND REQUIREMENTS

8.1 You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Firm is not responsible for notifying you for any such instances.

8.2 At margin levels of 25% (twenty-five) for FxPro MetaTrader4, the Firm has the discretion to begin closing positions starting from the most unprofitable one. In addition, at margin levels of 20% (twenty) for FxPro MetaTrader4, the Firm shall automatically begin closing positions at market price, starting from most unprofitable one.

8.3 At margin levels of 40% (forty) for FxPro cTrader, the Firm has the discretion to begin closing positions at Stop Out. In addition, at margin levels of 30% (thirty) for FxPro cTrader, the Firm shall automatically begin partially, or fully if necessary, closing positions at Smart Stop Out.

For more information about cTrader Smart Stop Out logic please click here

9. ABNORMAL MARKET CONDITIONS

9.1 Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by the Firm or you. As a result, FxPro may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss.

9.2 CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.

10. TRADING PLATFORM CONDITIONS

10.1 You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client.

10.2 You shall regularly consult the ‘Help’ menu or UserGuide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless FxPro determines, in its sole discretion, otherwise.

11. COMMUNICATION

11.1 FxPro bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by the Firm.

11.2 In addition, FxPro bears no responsibility for any loss that arises as a result of unencrypted information sent to you by the Firm that has been accessed via unauthorised means.

11.3 FxPro bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted.

11.4 You are solely responsible for the privacy of any information contained within the communication received by FxPro.

11.5 Moreover, you accept that any loss that arises as a result of unauthorised access of a third party to your trading account is not the responsibility of FxPro.

12. FORCE MAJEURE EVENT

12.1 In case of a Force Majeure Event you shall accept any loss arising.

12.2 Further details read the ‘Force Majeure Event’ is available in the ‘Client Agreement’ (http://www.fxpro.jpn.com/trading/products/legal).

13. TAXATION

13.1 Although investing in CFDs does not involve taking physical delivery of the underlying financial instrument independent tax advice should be sought, if necessary, to establish whether you are subject to any tax, including stamp duty.

14. ACCOUNT REVIEW

14.1 Through the trading platform(s), you may review any of your trading accounts, including but not limited to open and closed positions. In addition, through FxPro Direct (http://direct.fxpro.com) you may manage your account and deposit or withdraw money depending on your trading needs.

15. COSTS AND OTHER CONSIDERATIONS

15.1 Prior to trading CFDs you need to consider the costs involved such as spread(s) (including mark-up, if applicable), commission(s) and swap(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). FxPro reserves the right to change, from time to time, any of the costs applicable to trading CFDs; you understand and accept that the most up-to-date information in relation to costs is available online at the FxPro site.

16. SWAP VALUE

16.1 A swap is the interest added or deducted for holding a position open overnight. Depending on the position held and the interest rates of the currency pair involved in the transaction your trading account may either be credited or debited, accordingly. Your trading account is reconciled every day at 23:59:31 (server time) and the resulting amount shall be automatically converted into the currency that your trading account is denominated in.

The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once. Please note that the rollover interest rates charged by FxPro are based on the interbank rates; FxPro updates such rollover interest rates as often as it deems necessary. You agree that you shall be notified of the applicable swap value by visiting the FxPro site. In addition, you are responsible for checking the applicable swap value prior to placing an instruction for trading.[:]