Terms and Conditions
These are the entire terms and conditions that apply to the use of this website and any services provided hereto. Use of this website and/or the services provided hereto (the "Services") are all subject to these terms and conditions (hence forth, the "Agreement"). If you have objections to the terms and conditions stipulated hereto, do not use our Services in any way. Please feel free to contact our customer support team at
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
for any clarifications before you continue to use this website.
Customer Agreement
This Agreement is made between yourself and FIG Corporation (hence forth, "You", and "Us" or "We" or "FIG Corporation"). This Agreement describes to you in full detail the terms and conditions which you must accept without restrictions or objections before using our Services. Before you use our Services and before you become a customer of FIG Corporation, you must fully understand and agree to all the terms and conditions expressly explained and/or implied hereto by reference. Notwithstanding anything to the contrary, by continuing to use our Services you are implying that you have read this Agreement and have unconditionally accepted without reservation the terms and conditions in their entirety.
In consideration of Boston Merchant Financial, or any of its affiliates, agreeing to carry one or more accounts of the undersigned (hereinafter referred to as "Client") and to provide services to Client in connection with the purchase and sale of Contracts for Difference (collectively referred to as "CFDs") on Equities, Futures, Currency and any similar instruments (collectively referred to as OTC “Contracts"), which may be purchased or sold by or through BMFN for Client's accounts(s), Client agrees as follows:
1. ESTABLISHMENT OF ACCOUNT.
Client understands, acknowledges and agrees that by executing this Agreement, and subject to the terms and conditions of this Agreement, an account will be established in the Client’s name at Boston Merchant Financial, or any Boston Merchant Financial affiliate (collectively “BMFN”), that BMFN, in its sole discretion, may elect. Client further acknowledges that, subject to the terms and conditions herein, BMFN shall act as counterparty to all transactions conducted under this Agreement.
2. AUTHORIZATION TO TRADE.
BMFN is hereby authorized to purchase and sell OTC Contracts for Client's account(s) in accordance with Client's oral, written or electronic instructions. Unless instructed by Client to the contrary in writing, BMFN is authorized to execute all orders with itself as counterparty or with such other counterparties as BMFN deems appropriate.
3. GOVERNMENTAL, COUNTER PARTY INSTITUTION AND INTER-BANK SYSTEM RULES.
All transactions under this Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rules and interpretations of the counter-party institution or other inter-bank market (and its clearing organization, if any) where executed and to all applicable British Virgin Islands law. If any statute shall hereafter be enacted or any rule or regulation shall hereafter be adopted by any governmental authority, which shall be binding upon BMFN, this Agreement shall be deemed modified or superseded, as the case may be, by the applicable provisions of such statute, rule or regulation, and all other provisions of this Agreement and provisions so modified shall in all respects continue in full force and effect. Client acknowledges that all transactions under this Agreement are subject to the aforementioned regulatory requirements, and Client shall not thereby be given any independent legal or contractual rights with respect to such requirements.
4. MARGIN AND DEPOSIT REQUIREMENTS.
Client shall deposit with BMFN collateral or margin in such amounts that BMFN, in its sole discretion, may require. Margin requirements will vary dependent on the electronic trading system and products traded. BMFN may change margin requirements at any time. Client agrees to deposit by immediate wire transfer such additional margin when and as required by BMFN and will promptly meet all margin calls by such methods as BMFN in its sole discretion designates. BMFN may at any time proceed to liquidate Client's account in accordance with paragraph 7 below, and any failure by BMFN to enforce its rights hereunder shall not be deemed a waiver by BMFN to enforce its rights thereafter. No previous collateral or margin requirement by BMFN shall preclude BMFN from increasing that requirement without prior notice. Margin calls are conclusive and binding unless objected to immediately in writing.
5. POSITION LIMITATION AND EXTRAORDINARY EVENTS.
BMFN retains the right to limit the amount and/or total number of open positions that Client may acquire or maintain at BMFN. BMFN reserves the right to refuse to accept any order. BMFN shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control of BMFN including, without limitation, loss or damage resulting, directly or indirectly, from government restrictions, war, strikes, labor disruptions and terrorist acts. BMFN shall not be liable for damages caused by delays or inaccuracies in the transmission of orders or information due to a breakdown in or failure of any transmission or communication facilities, unauthorized access, theft or systems failures.
6. SETTLEMENT DATE AND ROLLOVERS.
In the absence of contrary instructions from Client, BMFN is authorized, in its absolute discretion, to rollover or offset all or any portion of the positions in Client's Account(s), maintained on any electronic trading platform and for any product, at Client's risk in advance of settlement dates. A position carried forward may be credited or debited interest charges until the position is closed. At it’s discretion, BMFN may elect to offer Client an interest free account whereby positioned carried forward will not be credited or debited interest charges. Client agrees and acknowledges that if such an account is offered by BMFN to Client, BMFN has the authority to, at its own discretion and at anytime and for any reason, begin crediting and/or debiting interest charges to said account without prior notice to Client.
7. COLLATERAL AND LENDING AGREEMENT.
All funds, securities, currencies, and other property of Client that BMFN or its affiliates may at any time be carrying for Client (either individually, jointly with others or as a guarantor of the account of any other person) or which may at any time be in its possession or control or carried on the books of BMFN for any purpose, including safekeeping, are to be held by BMFN as security and subject to a general lien and right of set-off for all obligations and liabilities of Client to BMFN whether or not BMFN has made advances in connection with such securities, currencies or other property, and irrespective of the number of accounts Client may have with BMFN. BMFN may in its discretion, at any time and from time to time, without notice to Client, apply and/or transfer any or all funds or other property of Client between any of Client's accounts. Client hereby also grants to BMFN the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other Clients, to itself as broker or to others, any securities or other property of Client held by BMFN as margin or collateral. BMFN shall at no time be required to deliver to Client the identical property delivered to or purchased by BMFN for any account of Client. Should Client take delivery of currencies through settlement of trades, BMFN is obliged to make full payment for the delivery on 24 hours notice. If the balance in the Client's account is not adequate to pay for the delivery, the depository receipts held in the name of Client or BMFN, as Client’s agent or nominee, become property carried on margin in the Client's account, since they are not fully paid for by Client. This authorization shall apply to all accounts carried by BMFN for Client and shall remain in full force until all accounts are fully paid for by Client or notice of revocation is sent by BMFN.
8. LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES.
In the event of: (a) the death or judicial declaration of incompetence of Client, (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Client, (c) the filing of an attachment against any of Client's accounts carried by BMFN, (d) insufficient margin, or BMFN's determination that any collateral deposited to protect one or more accounts of Client is inadequate, regardless of current market quotations, to secure the account, (e) Client's failure to provide BMFN any information requested pursuant to this agreement, or (f) any other circumstances or developments that BMFN deems appropriate for its protection, then, in BMFN's sole discretion, it may take one or more, or any portion of, the following actions: (i) satisfy any obligation Client may have to BMFN, either directly or by way of guaranty of surety, out of any of Client's funds or property in its custody or control, (ii) sell or purchase any or all Contracts, securities or property held or carried for Client, and (iii) cancel any or all outstanding orders or contracts, or any other commitments made on behalf of Client. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Client, Client's personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Client's or held jointly with others. In liquidation of Client's long or short positions, BMFN may, in its sole discretion, offset in the same settlement or it may initiate new long or short positions in order to establish a spread or straddle which in the sole discretion of BMFN may be advisable to protect or reduce existing positions in a Client's account. Any sales or purchases hereunder may be made at BMFN's discretion with any inter-bank or other market where such business is then usually transacted or at a public auction or private sale, and BMFN may purchase the whole or any part thereof free from any right of redemption. Client shall at all times be liable for the payment of any deficit balance in Client’s account(s) upon demand by BMFN and in all cases, Client shall be liable for any deficiency remaining in Client's account(s) in the event of the liquidation thereof in whole or in part by BMFN or by Client. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all obligations and liabilities of Client owed to BMFN, Client shall promptly pay upon demand, the deficit together with interest thereon at a rate equal to three points above the then prevailing prime rate at BMFN’s principal bank or the maximum interest rate allowed by law, whichever is lower. Client agrees to pay and shall be liable for all reasonable costs and expenses of collection, including but not limited to, attorney's fees, witness fees and travel expenses. In the event BMFN incurs expenses other than for the collection of deficits, with respect to any of Client’s account(s), Client agrees to pay such expenses.
9. MONTHLY STATEMENTS AND CONFIRMATIONS.
Transaction confirmations of orders and monthly statements of account for Client shall be deemed correct and shall be conclusive and binding upon Client if not objected to immediately upon receipt and confirmed in writing within (1) business day after transmittal to Client by e-mail
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
. Failure to object shall be deemed acceptance and ratification of all actions taken by BMFN or BMFN's agents prior to Client's receipt of said reports. Client's failure to receive a transaction confirmation shall not relieve Client of the duty to inquire of BMFN and to object as set out herein.
10. COMMISSIONS AND FEES.
Client agrees to pay all charges relating to the CFD transactions conducted by or through BMFN, including without limitation commissions, markups, markdowns, transfer and cancellation charges, and inactive account fees. BMFN may adjust its charges without notice. All such charges shall be paid by Client as incurred and deducted from Client’s account. BMFN may share such commissions or markups and markdowns with an introducing broker or person who refers Client’s account to BMFN.
11. BMFN RESPONSIBILITIES.
BMFN will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or for any other cause beyond BMFN's control or anticipation. BMFN shall only be liable for its actions directly attributable to gross negligence, willful default or fraud on the part of BMFN. BMFN shall not be liable for losses arising from the default of any agent or any other party used by BMFN under this Agreement. Since over-the-counter Contracts are not traded on an exchange, the prices at which BMFN is willing to deal or the quotes published by BMFN may differ from prices confirmed or quoted by other CFD market makers or dealers.
12. CURRENCY FLUCTUATION RISK.
If Client directs BMFN to enter into any CFD transaction: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for the risk and account of Client; (b) all deposits for margin purposes if made in currency other than U .S. Dollars may be converted to U .S. Dollars, in such amounts as BMFN may in its sole discretion require; and (c) BMFN is authorized to convert funds in Client's account for margin into and from such foreign currency at a rate of exchange determined by BMFN in its sole discretion on the basis of the then prevailing money market rates.
13. RISK ACKNOWLEDGMENT.
Client acknowledges that investments in leveraged and non-leveraged transactions are speculative, involve a high degree of risk, and are appropriate only for persons who can assume risk of loss in excess of their margin deposit to carry CFD positions and may result in significant losses that substantially exceed Client's investment and margin deposit. Client represents and warrants to BMFN that Client is willing and able, financially and otherwise, to assume the risk of trading in CFD transactions, and in consideration of BMFN's carrying his/her account(s), Client agrees not to hold BMFN responsible for losses incurred through trading. Client recognizes that guarantees of profit or freedom from loss are impossible in trading Contracts. Client acknowledges that Client has received no such guarantees from BMFN or from any of its introducing or referring agents or other entities with whom Client is conducting his/her BMFN account and has not entered into this Agreement in consideration of or in reliance upon any such guarantees or similar representations. If Client has received any such guarantees or inducements, Client is advised to report such activity to BMFN as promptly as possible.
14. CLIENT REPRESENTATIONS AND WARRANTIES.
Client represents and warrants to BMFN that: (a) Client is of sound mind, legal age and legal competence, (b) no person other than Client has or will have an interest in Client's account(s), (c) regardless of any subsequent determination to the contrary, Client is suitable to trade Contracts and understands the risk inherent in such trading, (d) Client confirms that all funds deposited to his/her account are the property of the account owner and of no other person or entity, and (f) all the information provided by Client to BMFN in account applications or otherwise is true, correct and complete as of the date hereof, and Client will promptly notify BMFN of any changes in such information.
15. DISCLOSURE OF FINANCIAL INFORMATION.
Client represents and warrants to BMFN that the financial information disclosed to BMFN in this document is an accurate representation of Client's current financial condition and that Client has very carefully considered the portion of the Client's assets which the Client considers to be risk capital available for investment in Contracts. Client recognizes that risk capital is the amount of money Client is willing to put at risk and if lost would not, in any way, change Client's lifestyle. Client agrees to inform BMFN immediately if Client's financial condition changes in such a way as to reduce Client's net worth, liquid assets and/or risk capital.
16. JOINT ACCOUNTS.
If this account is held by more than one person, all of the joint and beneficial holders are jointly and severally liable to BMFN for any and all obligations arising out of all transactions in the account and each agree to be bound by all the terms and conditions of this Agreement. In addition, each person named on this account has authority: (a) to trade for the account subject to this Agreement, (b) to receive all correspondence and documents in respect to the account, (c) to receive or withdraw money from the account, (d) to execute agreements relating to the account, and (e) to deal with BMFN fully. BMFN, nevertheless, has the authority to require joint action by the parties to the account in matters relating to the account. BMFN has possession over the collateral in the account, whether owned by the holders individually or jointly. If a death occurs to one or more of the holders, BMFN shall be notified in writing and shown proof of a death certificate. All expenses due at the date of notification shall be charged to the account. Unless the Account Application Form for Joint Account states otherwise, then each holder is presumed to have an equal share in the account.
17. NO WAIVER OR AMENDMENT.
No provision of this Agreement may be waived or amended unless the waiver or amendment is in writing and signed by both Client and an authorized officer of BMFN. No waiver or amendment of this Agreement may be implied from any course of dealing between the parties or from any failure by BMFN or its agents to assert its rights under this Agreement on any occasion or series of occasions. No oral agreements or instructions to the contrary shall be recognized or enforceable. This instrument and the attachments hereto embody the entire agreement of the parties, superseding any and all prior written and oral agreements and there are no other terms, conditions or obligations other than those contained herein.
18. GOVERNING LAW AND JURISDICTION.
This Agreement and the rights and obligations of the parties hereto, and any judicial or administrative action or proceeding arising directly or indirectly hereunder, or in connection with the transactions contemplated hereby, whether brought by Client or BMFN, shall be governed by British Virgin Islands law to the exclusion of British Virgin Islands international private law and any international convention signed or ratified by Switzerland.
19. JURISDICTION.
Client agrees that any civil action, arbitration or other proceeding between BMFN and its employees or agents and Client arising out of or relating to this Agreement shall be commenced, heard and resolved only by a tribunal located in Switzerland. Client hereby waives the right to have such proceeding transferred to another jurisdiction. No action hereunder or relating to this Agreement, shall be brought by Client more than one year after the date of the transaction giving rise to the cause of action regardless of when Client discovers the facts relating to the cause of action. Accordingly, Client hereby appoints BMFN (or any other party BMFN may designate) as Client’s true and lawful attorney-in-fact and duly authorized agent for service of legal process; provided that BMFN or such other party shall within five days after receipt of such process, forward the same by air carrier or by certified or registered mail, together with all papers affixed thereto, to Client at his/her last known address.
20. BINDING EFFECT.
This Agreement shall be continuous and shall cover, individually and collectively, all accounts of Client at any time opened or reopened with BMFN irrespective of any change at any time in the personnel of BMFN or its successors, affiliates or assigns. This Agreement including all authorizations, shall inure to the benefit of BMFN and its successors and assigns, whether by merger, consolidation or otherwise, and shall be binding upon Client and/or the estate, executor, trustees, administrators, legal representatives, successors and assigns of Client. Client hereby ratifies all transactions with BMFN affected prior to the date of this Agreement, and agrees that the rights and obligations of Client in respect thereto shall be governed by the terms of this Agreement.
21. TERMINATION.
This Agreement shall continue in effect until termination and may be terminated by Client at any time when Client has no obligations held by or owed to BMFN, upon the actual receipt by BMFN at its office of a written notice of termination, or at any time whatsoever by BMFN upon the transmittal of written notice of termination of any obligations set out in this Agreement. Termination by Client shall not relieve Client of the obligation to pay any deficit balance in the account.
22. INDEMNIFICATION.
Client agrees to indemnify and hold BMFN, its affiliates, subsidiaries, employees, agents, successors and assigns harmless from and against any and all liabilities, losses, damages, costs and expenses, including attorney's fees, incurred by BMFN arising out of Client's failure to fully and timely perform Client's agreements herein or should any of Client’s representations and warranties to BMFN fail to be true and correct. Client also agrees to pay promptly to BMFN all damages, costs and expenses, including attorney's fees, incurred by BMFN in the enforcement of any of the provisions of this Agreement and any other agreements between BMFN and Client.
23. RECORDED CONVERSATIONS.
Client agrees and acknowledges that all conversations may be recorded. Conversations relating to the account(s) between Client and BMFN personnel may be electronically recorded with or without the use of an automatic tone warning. Client further agrees to the use of such recordings and transcripts thereof as evidence by either party in connection with any dispute or proceeding that may arise involving Client or BMFN. Client understands that BMFN destroys such recordings at regular intervals in accordance with BMFN's established business procedures and hereby consents to such destruction.
24. CREDIT.
Client authorizes BMFN or its agents acting on behalf of BMFN to investigate Client’s credit standing and in connection therewith to contact such banks, financial institutions and credit agencies as BMFN shall deem appropriate to verify information regarding Client. Client further authorizes BMFN to investigate Client’s current and past investment activity, and in connection therewith, to contact such futures commission merchants, exchanges, broker-dealers, banks, and compliance data centers as BMFN shall deem appropriate. Upon reasonable request made in writing by Client to BMFN, Client shall also be allowed, at Client’s sole cost and expense, to copy such records.
25. Modifications to This Agreement
We reserve the right to amend, revise, modify, and/or change this Agreement at any time.
PLEASE PRINT A COPY OF THESE TERMS AND CONDITIONS FOR YOUR RECORDS
