דף הבית התחל לסחור מניות פורקס-מט"ח מדדים סחורות תעודות סל חוזה הפרשים עזרה
חוזה לקוחות
1 INTRODUCTION

This User Agreement (“Agreement”) by and between Plus500 Ltd, (“Company”, “we”, “ours” and “us” as appropriate) and you (“you”, “your”, “yours” and “yourself” as appropriate), will govern your use of the Trading Platform. You should read this Agreement carefully, including all ancillary documents and any further terms and conditions and privacy policies posted on the Site, which are incorporated herein by reference, and any other documents that we have supplied or in the future may supply to you.

By selecting the "I have read and I accept the user agreement" check box when registering your full details in the client software, you and any legal entity on whose behalf you download and use the Trading Platform and any other software, technology and services, as more particularly described in this Agreement, are consenting to be bound by and are becoming a party to this Agreement.

Use of the Trading Platform (which allows high leverage investments) carries a high level of risk and can result in a complete loss of your investment. The Trading Platform is not suitable for everyone. A detailed explanation of the risks associated with trading on the Trading Platform is set forth in this Agreement and on the Site. You should ensure you fully understand such risks before entering into this Agreement with us and using the Trading Platform.

If you do not agree with all of these terms or do not understand them, you must: (1) immediately cease the download process of the Trading Platform; and (2) not use the Trading Platform.

2 IMPORTANT RISK STATEMENT, MARKET DISCLAIMER AND RESTRICTIONS ON USE

2.1 The Trading Platform facilitates the trading of CFDs through entering into Transactions on the Trading Platform. Trading on the Trading Platform carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade CFD, you should carefully consider your investment objectives, level of experience, and ability to absorb the risks. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with such trading, and seek advice from an independent financial advisor if you have any doubts.

2.2 The calculation of the price to be paid (or the payout to be received) for Transactions on the Trading Platform will be based on our best estimate of market prices, the expected level of interest rates, implied volatilities and other market conditions based on a complex arithmetic calculation. The prices (or the payout amounts) offered through the Trading Platform may differ substantially from prices available in Exchanges where such Instruments are traded.

2.3 We do not provide a market amongst or between users of the Trading Platform for investments or speculations. Each Transaction completed on the Trading Platform is an individual agreement made between a user and us, and is not transferable, negotiable or assignable to or with any third party.

2.4 Any Financial Data or other opinions, news, research, analyses, prices, or other information available to you on the Site or the Trading Platform or offered by us in any other form or by any other means whatsoever, is provided as general market commentary and does not constitute investment advice. Furthermore, such content is subject to change at any time without notice. WHILST WE DO TAKE REASONABLE MEASURES TO ENSURE THE ACCURACY OF SUCH INFORMATION, WE WILL NOT ACCEPT LIABILITY FOR ANY LOSS OR DAMAGE, INCLUDING WITHOUT LIMITATION, ANY LOSS OF PROFIT, WHICH MAY ARISE DIRECTLY OR INDIRECTLY FROM USE OF OR RELIANCE ON SUCH INFORMATION.

2.5 The Trading Platform is not intended for distribution to, or use by, any person:

2.5.1 WHO IS A MINOR (UNDER THE AGE OF 18 YEARS OLD), IS NOT OF LEGAL COMPETENCE OR OF SOUND MIND;

2.5.2 WHO RESIDES IN ANY COUNTRY WHERE SUCH DISTRIBUTION OR USE WOULD BE CONTRARY TO LOCAL LAW OR REGULATION. THE TRADING PLATFORM AND ANY OTHER SERVICE PROVIDED BY US IS NOT AVAILABLE TO PERSONS RESIDING IN ANY COUNTRY WHERE THE PROVISION OF SUCH SERVICES OR ACTIVITIES WOULD BE CONTRARY TO LOCAL LAW OR REGULATION. IT IS YOUR RESPONSIBILITY TO ASCERTAIN THE TERMS OF AND COMPLY WITH ANY LOCAL LAW OR REGULATION TO WHICH YOU ARE SUBJECT;

2.5.3 WHO IS A CITIZEN OR RESIDENT OF THE UNITED STATES OF AMERICA. FURTHERMORE, USE OF THE TRADING PLATFORM IS PROHIBITED FROM ANYWHERE IN THE UNITED STATES OF AMERICA;

2.5.4 who is an employee, director, associate, agent, affiliate, relative, or otherwise related to the Company or any affiliate thereto.

Without derogating from the above, we reserve the right to refuse and/or cancel the use of the Trading Platform to anyone in our sole and absolute discretion.

3 LICENSE GRANT AND RESTRICTIONS

3.1 Subject to the terms and conditions of this Agreement, we hereby grant you, a personal, limited, non-exclusive, revocable, non-transferable and non-sublicenseable license to install and use the Trading Platform in object code only, solely for your internal use and benefit in accordance with the terms of this Agreement.

3.2 If any third-party software is included within or embedded in the Trading Platform, then such embedded third-party software shall be provided subject to the terms of this Agreement that apply to the Trading Platform. Notwithstanding, you shall fully comply with the terms of any Third Party Licenses that we provide to you from time to time. We provide no express or implied warranty, indemnity or support for the Third Party Licenses, and will have no liability therefore.

3.3 We reserve any and all rights in the Trading Platform not expressly granted to you by this Agreement. The Trading Platform is licensed to you by us and not sold. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill, copyrights, trademarks, logos, know how, patents and any intellectual property rights, are and shall remain owned solely by the Company or our licensors. Except for the license expressly granted under this Section ‎3, no other license, right, or interest in any goodwill, trademark, copyright, logo, know-how, patent, service mark or other intellectual property right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.

3.4 You shall be solely responsible for procuring and maintaining in proper working order, throughout the term of this Agreement and at your own expense, the hardware, operating environment (including operating system software), backup means and infrastructure necessary for installation, operation and maintenance of the Trading Platform (including without limitation uninterruptible power systems and electrical back-up devices). You shall be solely responsible for preventing any virus infections, security breaches, and other disabling events from damaging the Trading Platform. You represent and warrant that you have implemented and plan to operate and maintain appropriate protection in relation to the security and control of access to your computer, computer viruses or other similar harmful or inappropriate materials, devices, information or data.

3.5 You shall promptly inform us in writing from time to time as to any problems encountered with the Trading Platform, if any, any modifications, design changes and improvements suggested to the Trading Platform, and any breaches or potential breaches of this Agreement by you, or by any third party of which you become aware. We shall have the right, but not the obligation, to make modifications to the Trading Platform based upon your suggestions hereunder. Any modifications made to the Trading Platform based on such feedback shall be the undisputed sole property of the Company.

3.6 Unless expressly permitted in this Agreement, you shall not (i) assign, sublicense, transfer, pledge, lease, rent, distribute or share the Trading Platform or any rights thereto under this Agreement; (ii) separate any component part of the Trading Platform, or separately use any component part thereof on any equipment, machinery, hardware or system whatsoever; (iii) decompile, disassemble, reverse compile, reverse engineer, create derivative works of or reproduce (other than one copy solely for backup and archival purposes) the Trading Platform or any parts thereof; (iv) remove or destroy any proprietary marking or legends placed upon or contained within the Trading Platform; (v) develop methods to enable unauthorized parties to use the Trading Platform; (vi) attempt to reconstruct or discover any source code, underlying ideas, algorithms, file formats or programming or interoperability interfaces of the Trading Platform by any means whatsoever; (vii) provide, lease, lend, use for timesharing or service bureau purposes, or otherwise use or allow others to use the Trading Platform for the benefit of third parties; (viii) work around any technical limitations in the Trading Platform, or use any tool to enable features or functionalities that are otherwise disabled in the Trading Platform; (ix) use similar processes and functions to develop competing features or functions with the Trading Platform; (x) use the Trading Platform or any Financial Data to conduct any fraudulent, inappropriate or illegal activities, including without limitation deceptive impersonation; or (xi) permit or encourage any third party to do any of the foregoing.

4 REGISTRATION DATA

4.1 In order to use the Trading Platform, you must provide us with Registration Data, including among others, Account Credentials. You agree to:

4.1.1 Provide true, accurate, current and complete Registration Data as prompted by the registration process;

4.1.2 Maintain and promptly update the Registration Data to keep it accurate, current and complete; and

4.1.3 Ensure that you log out from your account at the end of each session on the Site.

4.2 You further undertake to (i) take such actions as are necessary in order to maintain the confidentiality and prevent the unauthorized use of your Account Credentials, and (ii) immediately notify us in writing if you determine, or have reasonable reason to believe, that an unauthorized party has gained access to your Account Credentials or gained any other unauthorized access to the Trading Platform. You authorize us to rely upon any information or instructions set forth in any data transmission using your Registration Data, without making further investigation or inquiry, and regardless of the actual identity of the individual transmitting the same. Without limitation of the foregoing, we have no responsibility for transmissions that are inaccurate or not received by us, and we may execute any Transaction on the terms actually received by us. Without derogating from the foregoing, we reserve the right to reset the Account Credentials if there has been any unauthorized access to, and/or use of, the Trading Platform using your Registration Data.

4.3 You are responsible for ensuring that you alone control access to your Account Credentials, and that no minor or other person is granted access to the Trading Platform using your Account Credentials. You acknowledge that you are ultimately and solely responsible for all actions on the Trading Platform through your Registration Data including any unauthorized disclosure of your Account Credentials.

4.4 You shall indemnify, defend, and hold us harmless from any claim, proceeding, loss or damages based upon any use, misuse, or unauthorized use of the Trading Platform through your Registration Data.

4.5 You declare that by providing your Registration Data to us, you hereby consent to, us sending, and you receiving, by means of telephone, facsimile, SMS or e-mail, communications containing content of a commercial nature relating to your use of the Trading Platform, including any further and information and offers from us or third parties that we believe you may find useful or interesting, such as newsletters, marketing or promotional materials.You acknowledge that we do not have to obtain your prior consent (whether written or oral) before sending such communications to you, provided that we shall immediately cease to send any such further communications should you notify us in writing that you do not wish to receive such commercial content anymore.

5 TRANSACTIONS ON THE TRADING PLATFORM

5.1 OPENING AND COMPLETING A TRANSACTION

5.1.1 Subject to Section ‎10.1, you shall be able to consummate a Transaction through the Trading Platform for certain Instruments in a number of markets worldwide. You acknowledge and agree that we may, in our sole discretion, add, remove or suspend from the Trading Platform, any Instrument, on any foreign market, from time to time.

5.1.2 In order to open a Transaction on the Trading Platform, you must either open a Buy or a Sell, at the price quoted by the Trading Platform at the time of such Transaction. In order to close a Transaction, you must either offer to, sell (in the case of a Buy), or purchase (in the case of a Sell), the Instruments covered by such open Transaction, at the price quoted by the Trading Platform at the time of such closing offer.

5.1.3 The Trading Platform will provide a Buy quote and a Sell quote for each Instrument traded on the Trading Platform. You acknowledge that upon opening a Buy or closing a Sell, you may only do so at the price quoted by the Trading Platform to purchase such an Instrument. You further acknowledge that upon opening a Sell or closing a Buy, you may only do so at the price quoted by the Trading Platform to sell such an Instrument.

5.1.4 On the Trading Platform, you shall be entitled to make an offer to open a Transaction at the best available rate on the Trading Platform (“Market Order”) at the time of opening such a Transaction, unless you specify a particular price in which to make an offer to open a Transaction (“Limit Order”). With respect to a Market Order, the price in which a Transaction is consummated may not always be at the exact rate displayed when the order is submitted. You agree that your offer to open a Market Order may be accepted at a lower or higher price than the price indicated by you in your Market Order, within a certain range as specified on the Trading Platform from time to time.If you choose to open a Limit Order, your offer may be accepted at the price indicated by you in your offer. At any time prior to acceptance of a Limit Order, you may cancel the Limit Order without any further liability. If you choose to open a Market Order, your offer will be accepted at the best possible rate offered on the Trading Platform.

5.2 STOP AND LIMITS

5.2.1 We may, in our sole discretion, allow you to specify a closing price for a Transaction through a “Close at Loss” and “Close at Profit” order, subject always to the terms of this Agreement and any other terms and conditions we may implement from time to time.

5.2.2 You acknowledge that we may, in our sole and absolute discretion, act or refuse to act on any Order irrespective of whether the closing price specified in such an Order has been reached or exceeded or the length of time that such specified level was available on the Trading Platform.

5.2.3 Upon your offer and our acceptance of an Order, you hereby authorize us to close the Transaction at the Close at Loss price or Close at Profit price, as applicable, and as agreed upon in the Order, without further instruction from or notification to you. We may, in our sole discretion, close the Transaction when the price quoted by us on the Trading Platform equals or exceeds the price accepted by us for such an Order. You acknowledge that we will not be required to close any Transaction if you are not in compliance with any of the factors set forth in Section ‎5.6.13.

5.2.4 We may, in our sole discretion, allow you to request the opening or closing of a Transaction, including a Close at Loss and Close at Profit Order, within a specific time period determined by you. If we have accepted such a request, we may in our sole discretion, close the Transaction within such specific time period. You acknowledge and agree that we shall not be obligated to close such a Transaction outside such specific time period or which does not otherwise comply with any other limitations agreed upon with respect to such Transaction.

5.2.5 We may, in our sole discretion, accept an offer to place a trailing stop in relation to a Close at Loss. You acknowledge that the original price level set forth in a Close at Loss may be amended as the market on the Trading Platform moves in your favor. Whilst your trailing Close at Loss is still in effect, you agree that each change in the market by at least one (1) percentage in point (referred to as "Pips" on the Trading Platform) in your favor shall constitute a new offer by you to raise the level of your trailing Close at Loss by one (1) percentage in point. Changes in a Pip will be rounded to the nearest absolute value in your base currency based on your country of origin, as shall be specified on the Trading Platform.

5.2.6 You acknowledge and agree that due to market volatility and factors beyond our control, we cannot guarantee that an Order will be executed at the level specified in your Order, for example, an Order may be closed at a worse price than as originally specified by you in such an Order. In such an event, we will close the Transaction at the next best price. For example, with respect to a Close at Loss, in the case of a Buy, the price of an Instrument underlying such Order may suddenly decrease below the Close at Loss price, without ever reaching such price. In the case of a Sell, the price of an Instrument underlying such Order may suddenly increase above the Close at Loss price, without ever reaching such price.

With respect to a Close at Profit where the price for an Instrument moves to your advantage (for example, if the price goes down as you buy or the price goes up as you sell), you agree that we can (but do not have to) pass such price improvement on to you. For example, in the case of a Buy, the price of an Instrument underlying such Order may suddenly increase above the Close at Profit price, without ever reaching such price. In the case of a Sell, the price of an Instrument underlying such Order may suddenly decrease below the Close at Profit price, without ever reaching such price.

5.3 PREMIUM

5.3.1 Any open Transaction held by you at the end of the international trading day or over the weekend when the Exchanges are closed, shall automatically be rolled over to the next business day so as to avoid an automatic close and physical settlement of the Transaction. You acknowledge that when rolling such Transactions to the next business day, a Premium will be either added or subtracted from your account with respect to such Transaction. The Premium amount shall be determined by us from time to time, in our absolute discretion, based on a number of factors including among others, whether the Transaction is a Buy or a Sell, interest rates, Instrument differentials, daily price fluctuations and other economic factors. In deciding whether to open a Transaction for a specific Instrument, you acknowledge that you are aware of the Premium.

5.3.2 You hereby authorize us to add or subtract the Premium to or from your account for any open Transaction that have accrued a Premium, in accordance with the applicable rate thereto, each day at the time of collection specified on the Trading Platform for each individual Instrument, as applicable.

5.4 EXPIRY TRANSACTIONS

5.4.1 We may, in our sole and absolute discretion, set an Expiry Date for a specific Instrument.

5.4.2 In the event we set an Expiry Date for a specific Instrument, it shall appear on the Trading Platform. It is your responsibility to make yourself aware of the Expiry Date.

5.4.3 If you do not close an open Transaction with respect to an Instrument which has an Expiry Date, prior to such Expiry Date, the Transaction shall automatically close upon the Expiry Date. The Transaction shall close at a price which will be the last price quoted on the Trading Platform immediately prior to the applicable Expiry Date.

5.5 FORCED CLOSE

5.5.1 If the prices quoted on the Trading Platform change such that the total Difference payable by you pursuant to all of your open Transaction equals or exceeds the total Maintenance Margin for all such Transactions, or the amount in your Trading Account is equal to or less than the total Maintenance Margin for all of your open Transaction, or if we receive a charge-back from your credit card issuer or with respect to any other payment method, for any reason you acknowledge that we may, in our sole discretion, immediately close any and all of your open Transactions whether at a loss or a profit and liquidate your Trading Account in accordance with Section ‎11.3, without any notice whatsoever.

5.5.2 Notwithstanding the foregoing, if the prices quoted on the Trading Platform move against the price of your Transaction, we may, without obligation or liability, request that you increase the amount in your Trading Account, within a short period of time, to cover the Difference and/or meet the Maintenance Margin requirements for the purpose of keeping a Transaction open. If you fail to comply with a request for additional funds within the time prescribed by us, we may in our sole discretion, close any and all of your open Transaction whether at a loss or a profit and liquidate your Trading Account for the Difference payable by you.

5.5.3 We may specify on the Trading Platform expiration times and dates for various Instruments traded on the Platform. If the Trading Platform specifies such a time of expiration for an Instrument, you hereby authorize us to close any open Transactions with respect to such an Instrument, at the price quoted on the Trading Platform at such time.

5.5.4 You acknowledge that the trading of certain Instruments on the Trading Platform may become volatile very quickly and without warning. Due to the high degree of risk involved in trading volatile Instruments, you acknowledge and agree that we reserve the right to close all or any open Transactions with respect to Instruments that we determine, in our sole discretion, are volatile, at the price quoted on the Trading Platform at such time without notice.

5.6 GENERAL RULES OF TRADING

5.6.1 You acknowledge and agree that each Transaction conducted on the Trading Platform, including the placing of an Order, is comprised of first, an offer by you to complete a Transaction (whether such offer is to open a Transaction or close an open Transaction) at a certain price quoted on the Trading Platform, and our subsequent acceptance of your offer. A Transaction will be deemed to have been consummated only when your offer has been received and accepted by us. Our acceptance of an offer will be evidenced by our confirmation of its terms to you and its consummation.

5.6.2 We will be under no obligation to, but may in our absolute discretion, provide quotes for, or accept, execute or cancel, all or any part of a Transaction that you have requested through the Trading Platform without giving any reason thereto. You may request to cancel or amend a Transaction at any time prior to our closing such a Transaction. We shall be entitled, but not obligated, to accept such a request in our sole discretion.

5.6.3 We reserve the right to void from the outset any Transaction containing or based on any Manifest Error. In the absence of our fraud or willful default, we will not be liable to you for any loss, cost, claim, demand or expense following any Manifest Error.

5.6.4 You acknowledge that all prices shown on the Trading Platform are indicative only of actual trading prices and are subject to constant change.

5.6.5 You shall comply with any restrictions that we notify you from time to time with respect to your activities on the Trading Platform, including without limitation, the size of Transactions or other conditions that may apply to our quote. You acknowledge that we may offer to and impose on each user, in our sole discretion, different terms and restrictions with respect to their use of the Trading Platform.

5.6.6 You acknowledge that the Trading Platform is independent of any Exchanges and we are under no obligation to quote a particular price or follow the trading rules consistent with such Exchanges. You further acknowledge that the triggering of your Transaction is linked to the prices we quote on the Trading Platform, not the prices quoted on the relevant Exchanges. In determining whether the prices quoted on the Trading Platform reach or exceed the price accepted by us in a Transaction, we will be entitled (but not obliged), in our absolute discretion, to disregard any prices quoted by us during any pre-market, post-market or intra-day auction periods in the relevant Exchange, during any intra-day or other period of suspension in the relevant Exchange, or during any other period that in our reasonable opinion may give rise to short-term price spikes or other distortions. Our prices may differ from the current prices on the relevant Exchanges and you acknowledge that a Transaction may be triggered even though (a) an Exchange never traded at the level of your Transaction; or (b) the Exchange did trade at the level of your Transaction but for such a short period that it would have been impractical to execute an equivalent transaction on the Exchange.

5.6.7 When you complete a Transaction on the Trading Platform, you acknowledge that you are dealing with us as principal and not dealing on the Exchange.

5.6.8 You acknowledge that any prices quoted on the Trading Platform are set by us in our reasonable discretion, taking into account a variety of factors including prevailing market conditions and trading demand on the Trading Platform. You undertake and agree not to use the prices quoted on the Trading Platform for any purpose other than for your own trading purpose, and you agree not to redistribute our prices to any other person whether such redistribution is for commercial or other purposes.

5.6.9 You acknowledge that each Transaction is made for a specified number of units that constitute the underlying Instrument. You may only complete Transactions on the Trading Platform for the minimum number of units as set forth on the Trading Platform as the “Unit Amount”, and in multiples of such “Unit Amount” up until the maximum amount permitted by the Trading Platform. You acknowledge and agree that we may set, in our sole and absolute discretion, the “Unit Amount” for each Instrument.

5.6.10 Each Transaction opened by you, and any Transaction completed, will be binding on you notwithstanding that by opening the Transaction you may have exceeded any credit or other limit applicable to you or in respect of your dealings with us.

5.6.11 Subject to Sections ‎5.6.14 and ‎6, you may request a quote to open or close a Transaction for a particular Instrument, at any time during the Trading Hours for such Instrument. We will be under no obligation to but may, in our absolute discretion, provide a quote and accept and act on your offer to open or close a Transaction for an Instrument outside of the Trading Hours of such Instrument.

5.6.12 Without derogating from Section ‎5.1.3, if, prior to the acceptance of your offer to open or close a Transaction, we become aware that any of the factors set out in Section ‎5.6.13 have not been met, we reserve the right to reject your offer outright. If we have, nevertheless, already opened or closed a Transaction prior to becoming aware that a factor set out in Section ‎5.6.13 has not been met, we may, in our absolute discretion, either treat such a Transaction as void from the outset or close it at our then prevailing price. However, we may, in our absolute discretion, allow you to open or, as the case may be, close the Transaction in which case you will be bound by the opening or closure of such Transaction, notwithstanding that the factors in Section ‎5.6.13 were not satisfied.

5.6.13 The factors referred to in Section ‎5.6.12 include the following:

(i) the quote must be obtained via the Trading Platform or by such other means as we may from time to time notify you;

(ii) your offer to open or close the Transaction must be given while the quote is still valid;

(iii) the quote must not contain a Manifest Error;

(iv) when you offer to open a Transaction, the number of units in respect of which the Transaction is to be opened must be neither smaller than the minimum unit amount specified on the Trading Platform for an Instrument, as applicable, from time to time, nor greater than the amount permitted in accordance with the terms of this Agreement;

(v) when you offer to close part but not all of an open Transaction both the part of the Transaction that you offer to close and the part that would remain open if we accepted your offer must not be smaller than the minimum unit amount specified on the Trading Platform;

(vi) a Force Majeure Event must not have occurred as described in Section ‎6.1; (vii) when you offer to open or close a Transaction an Event of Default must not have occurred in respect of you;

(viii) when you offer to open any Transaction, the opening of the Transaction must not result in your exceeding any credit or other limit placed on your dealings;

(ix) subject to Section ‎5.6.11, your offer must be given to us during the Trading Hours for the applicable Instrument in respect of which you offer to open or close the Transaction; and

(x) any other factor that we in our sole discretion notify you from time to time.

5.6.14 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you buy or the price goes up as you sell) you agree that we can (but do not have to) pass such price improvement on to you. The effect of such action being that the level at which you offer to open or close a Transaction will, upon acceptance by us, be altered to the more favorable price. You acknowledge that it is in your best interests for us to alter the level of your offer in the manner contemplated in this Section and you agree that any offer altered in accordance with this Section, once accepted by us, results in a fully binding agreement between us. Without derogating from the foregoing, you acknowledge that it is within our complete discretion as to when we will pass on a price improvement to you. You should also note that we will only pass on a price improvement within allowable limits.

5.6.15 Use of any robots, spiders or other automated data entry system with the Trading Platform is expressly prohibited. All Transactions must be completed manually by you. Any Transaction completed through such use of an automatic data entry system shall be null and void. Upon a breach of this Section, we may immediately close all or any of your accounts held with us of whatever nature, terminate this Agreement without notice and refuse to enter into further Transactions with you. Furthermore, any monies held in your Trading Account shall be frozen and we shall be entitled to deduct any amounts from your Trading Account in order to set off any loss, damages or expenses incurred by us as a result of a breach of this Section.

6 FORCE MAJEURE EVENTS

6.1 We may, in our reasonable opinion, determine that a Force Majeure Event exists. A Force Majeure Event will include, but is not limited to, the following:

6.1.1 any act, event or occurrence (including without limitation any strike, riot or civil commotion, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our opinion, prevents us from maintaining an orderly market in one or more of the Instruments in respect of which we deal on the Trading Platform;

6.1.2 the suspension or closure of any Exchange or the occurrence, abandonment or failure of any event on which we base, or to which we in any way relate, our quote, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event;

6.1.3 the occurrence of an excessive movement in the level of any Transaction and/or Exchange or our anticipation (acting reasonably) of the occurrence of such a movement;

6.1.4 any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure;

6.1.5 failure of any relevant supplier, Financial Institution intermediate broker, agent or principal of ours, custodian, sub-custodian, dealer, exchange, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations.

6.2 If we determine that a Force Majeure Event exists, we may, in our absolute discretion, without notice and at any time, take one or more of the following steps:

6.2.1 increase your Margin requirements;

6.2.2 close all or any of your open Transactions at such closing prices as we reasonably believe to be appropriate;

6.2.3 suspend or modify the application of all or part of this Agreement to the extent that the Force Majeure Event makes it impossible or impracticable for us to comply thereto; or

6.2.4 alter the Trading Hours for a particular Transaction.

6.3 You agree that we will not be liable in any way to you or to any other person in the event of a Force Majeure Event, nor for our actions pursuant to Section ‎6.2, if we decide to take such action. The parties shall be released of all responsibilities for partial, full or non-fulfillment, as well as for improper fulfillment of the obligations under this Agreement, if such non-fulfillment or improper fulfillment was a result of a Force Majeure Event, which occurred after this Agreement was concluded.

7 AUTHORITY TO TRADE; YOUR CONDUCT

7.1 You hereby authorize us to act on any instruction given or appearing to be given by you on the Trading Platform, including but not limited to, consummating Transactions on your account with Financial Institutions. You hereby authorize us to execute all offers for Transactions with such Financial Institutions as we deem appropriate, in our sole discretion.

7.2 We shall be entitled, and you hereby authorize us, to rely upon any oral or written communication or instruction received from you or any Authorized Person on your behalf, so long as we do not have actual knowledge of the lack of authority of any Authorized Person. We agree that such persons are authorized on your behalf to furnish us with all data, information, instructions and authorizations required by us to perform the services under this Agreement.

7.3 You agree that:

7.3.1 We are authorized to act upon instructions without enquiring as to the validity of the instructions and to consider the instructions of like force and effect as written orders made by the Authorized Persons;

7.3.2 Nothing in this section and no verification or attempted verification of any instruction or signatures at any time by us will obligate us to verify the validity of the instructions or the signatures in any particular case; and

7.3.3 You shall bear the risk of all instructions, whether authorized, unauthorized, improper or fraudulent, and whether provided to us by Authorized Persons or not, even if such instructions were provided without your authority. You shall indemnify us against and save us harmless from all losses, costs, fees, damages, expenses, claims, suits, demands and liabilities whatsoever that we may suffer or incur or that may be brought against us, in any way relating to or arising out of our acting upon, delay in acting upon or refusal to act upon any such instructions or information.

7.4 Without derogating from the above, we will not be under any duty to act in accordance with any instruction if we reasonably believe that:

7.4.1 the person who provided such an instruction was acting in excess of his authority;

7.4.2 acting upon such an instruction would infringe any law, rule, regulation or this Agreement; or

7.4.3 In the event that we have accepted an offer to perform a Transaction that we later suspect falls within Sections ‎7.4.1 or ‎7.4.2, we may, in our absolute discretion, either close such a Transaction at the then prevailing price quoted on the Trading Platform or treat the Transaction as having been void from the outset.

Nothing in this Section shall be construed as an obligation on our part to inquire about the authority of any person who purports to represent you.

7.5 Any offer to open or close a Transaction (including an Order) must be made by you, or on your behalf through the Trading Platform only. Written offers to open or close a Transaction, including offers sent by fax, email or text message will not be accepted.

7.6 If we receive an offer to open or close a Transaction other than in accordance with Section ‎7.5, we may act on such an offer, in our absolute discretion, however we will not be responsible for any loss, damage or cost that you suffer or incur arising out of any error, delay or omission in our acting or refusing to act on such an offer.

7.7 We will not be responsible for any loss, damage or expense arising out of a failure by you to open or close a Transaction, or otherwise communicate with us, for any reason whatsoever, other than for willful default or negligence on our part.

7.8 It is your responsibility to ensure, at all times, that we have been notified of your current and updated Registration Data including current and correct address, contact phone number and email address. You must immediately update the Trading Platform in the event of a change to your address or contact details, unless we agree to another form of communication.

7.9 It is your responsibility to make sure that you read all notices, rules, disclaimers, terms and conditions and privacy policies posted on our Site from time to time.

8 COLLATERAL

8.1 You hereby acknowledge and agree that all funds, currencies, and other property belonging to you and which (i) are held by us, or by one of our affiliates (either individually, jointly with another, or as a guarantor of the account of any other person), (ii) may at any time be in our possession or control, or (iii) is carried on our books for any purpose, including for safekeeping, are held as security and are subject to a general lien and right of set-off for all liabilities that you owe to us, irrespective of whether we have made advances in connection with such property or the number of accounts you may have with us.

8.2 We may, in our sole discretion, at any time and from time to time, without notice to you, apply and/or transfer any or all funds, currencies or other property of yours between any of your accounts.

8.3 You hereby grant to us the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other users of the Trading Platform, in favor of ourselves or to others, any securities or other property of yours held by us as Margin or security.

9 ACCESS TO AND USE OF THE TRADING PLATFORM

You acknowledge that we have the right, unilaterally and with immediate effect, to suspend or terminate (at any time, with or without cause or prior notice) all or any part of the Trading Platform or your access thereto, to change the nature, composition or availability of any service or functionality offered on it, or to change the limits we set on the trading you may conduct through it.

10 MARGIN AND DEPOSIT REQUIREMENTS

10.1 In order to open a Transaction for an Instrument, you must have the Initial Margin in your Trading Account. In order to keep a Transaction open, you must ensure that the amount in your Trading Account exceeds the Maintenance Margin. You acknowledge that the Margin for each Instrument differs and may be changed by us in our sole discretion from time to time. Payments to your Trading Account can be made by wire transfer or another method of payment, to a bank account, or other location, as we may notify to you from time to time. Based on the amount of money you have in your Trading Account, we retain the right to limit the amount and total number of open Transactions that you may wish to open or currently maintain on the Trading Platform.

10.2 Margin payments and any other payments due will, unless otherwise agreed or specified by us, be required in your base currency based on your country of origin, as shall be specified on the Trading Platform. We shall not, and you shall not request us to, convert any monies standing to your credit or which have been paid by you into your Trading Account in one currency to another currency.

10.3 You are aware and acknowledge that we may, in our sole discretion, require you to increase the amount in your Trading Account pursuant to a Margin Call. A Margin Call may be based upon a number of factors, including without limitation, your overall position with us, your account size, the number of open Transactions you have, volume traded, your trade history and market conditions. No previous Margin requirements by us shall preclude us from increasing the rates of Margin without prior notice.

10.4 You agree to immediately satisfy any Margin Calls, by wire transfer to your Trading Account in the time prescribed by us. Our failure on one or more occasions to enforce or exercise our right to insist on immediate payments as set forth herein will not amount to a waiver or bar to enforcement of that right.

11 PAYMENTS AND SET-OFF

11.1 Upon completing a Transaction, and subject to any applicable adjustments for interest as set forth in this Agreement:

11.1.1 You shall be liable for the Difference if the Transaction is:
(i) a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction,
11.1.2 You shall receive the Difference if the Transaction is:
(i) a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.

11.2 Unless we agree otherwise, all sums of which you are liable pursuant to Section ‎11.1 are due immediately upon the closing price of your Transaction being determined by us and the Transaction being closed.

11.3 You hereby authorize us to automatically liquidate your Trading Account for the amounts for which you are liable pursuant to Section ‎11.1 upon the closing of a Transaction, or for any other amounts due by you under this Agreement, without prior notice. Any failure to enforce our rights hereunder shall not be deemed a waiver by us to enforce our rights hereunder.

11.4 Subject to any amounts for which you are liable under this Agreement and the amount of the Maintenance Margin required in your Trading Account in accordance with this Agreement due to open Transactions, any money standing to the credit of your Trading Account will be remitted to you upon your request. Where you do not make such a request, we will be under no obligation to, but may, in our absolute discretion, remit such monies to you. All bank charges howsoever arising will be deducted from your Trading Account. The manner in which we remit monies to you will be in our absolute discretion.

11.5 You shall be liable for any and all taxes, fees and assessments with respect to any Transaction you complete on the Trading Platform. It is your obligation alone to calculate and pay all taxes applicable to you in your country of residence, or otherwise arising as a result of your trading activity from the use of the Trading Platform.
NOTWITHSTANDING THE ABOVE, IF REQUIRED BY APPLICABLE LAW, THE COMPANY SHALL PERFORM DEDUCTION AT SOURCE FROM ANY PAYMENTS DUE TO YOU OF SUCH AMOUNTS REQUIRED BY THE TAX AUTHORITIES IN ACCORDANCE WITH APPLICABLE LAW.

Without derogating from your sole and entire responsibility to perform tax payments, you agree that we may deduct tax, as may be required by the applicable law, with respect to your trading activity on the Trading Platform. You are aware that we have a right of set-off against any amounts in your Trading Account with respect to such tax deductions, and you hereby authorize us to withdraw amounts from your Trading Account in which to pay such taxes. You shall have no claim against us with regard to such deductions. You further agree that such deductions do not derogate from our rights to make Margin Calls under this Agreement.

11.6 It is hereby clarified that subject to the terms of this Agreement, the Difference is the only payment required by you for the use of the Trading Platform. Notwithstanding the above, we reserve the right to charge additional payments in the future, upon prior notice.

11.7 We reserve the right to seek reimbursement from you, if we receive a charge-back from any credit card issuer or with respect to any other payment method, for any reason. We may obtain such reimbursement by charging your Trading Account, deducting amounts from future payments owed to you, charging your credit card or obtaining reimbursement from you by any other lawful meanings. 12 RELATIONSHIP OF PARTIES

12.1 You will open each Transaction with us as principal and not as agent for any person. This means that unless we have otherwise agreed in writing, we will treat you as our client for all purposes and you will be directly and personally responsible for performing your obligations under each Transaction entered into by you, whether you are dealing with us directly or through an agent. If you act in connection with or on behalf of someone else, whether or not you identify that person to us or not, we will not accept that person as a customer of ours and we will accept no obligation to them unless otherwise specifically agreed in writing.

12.2 Dealings with you will be carried out by us on an execution-only basis unless otherwise agreed by us in writing. We do not and will not provide advice about a particular Transaction. You agree that, unless otherwise provided in this Agreement, we are under no obligation:

(a) to satisfy ourselves as to the suitability of any Transaction for you;
(b) to monitor or advise you on the status of any Transaction;
(c) to make Margin Calls or advise you that you are in breach of Section ‎10.1; or
(d) to close any Transaction that you have opened,
notwithstanding that previously we may have taken such action in relation to that Transaction or any other.
12.3 You hereby acknowledge and declare that in respect of all dealings conducted by you on the Trading Platform, you rely on your own judgment in opening, closing, or refraining from opening or closing a Transaction and that we will not, in the absence of fraud, be liable for any losses (including, without limitation, indirect or consequential losses or loss of opportunity or profits arising from any failure by you to make any anticipated profits), costs, expenses or damages suffered by you arising from any inaccuracy or mistake in any information or advice including without limitation the Financial Data, or unsuitability of any such information or advice, given to you, including without limitation, information or advice relating to any of your Transactions with us. The Financial Data provided to you is for your convenience only and does not constitute financial or investment advice. You acknowledge that you have relied upon other sources of financial data and information and verified the Financial Data with independent sources before completing a Transaction on the Trading Platform. Subject to our right to void or close any Transaction in the specific circumstances set out in this Agreement, any Transaction opened by you following such inaccuracy or mistake will nonetheless remain valid and binding in all respects on both you and us.
12.4 Before you begin to trade with us, you acknowledge that you are aware of all spreads, fees, interest and other charges for which you will be liable under this Agreement. These charges will affect your trading net profits (if any) or increase your losses, as the case may be.
13 CREDIT EVALUATION

You hereby authorize us or agents acting on our behalf, to investigate your credit standing and in connection therewith, to contact such banks, financial institutions and credit agencies as we shall deem appropriate to verify your financial information. You further authorize us to investigate your current and past investment activity, and in connection thereto, to contact such futures commission merchants, exchanges, brokers/dealers, banks, and compliance data centers as we shall deem appropriate.

14 TERM AND TERMINATION

14.1 This Agreement may be terminated by either party, if

14.1.1 a party fails to make any payment when due; or
14.1.2 a party dies, becomes of unsound mind, is unable to pay its debts as they fall due, is subject to proceeding for bankruptcy (if an individual) or winding-up (if a company) initiated by a third party, an administrator or receiver is appointed in respect of a party or its assets, or a party makes an arrangement or composition with its creditors or any other similar or analogous procedure is commenced in respect of a party.

14.2 We may immediately terminate this Agreement by providing written notice if:

14.2.1 you breach any warranty or representation under this Agreement or any other agreement between the parties, or any warranty or representation proves to have been false or misleading in any material respect as at the time it was made or given;

14.2.2 you materially breach any term or condition of this Agreement (including the terms of any Transaction); or

14.2.3 any Transaction or combination of Transactions or any realized or unrealized losses on any Transactions or combination of Transactions opened by you results in your exceeding any credit or other limit placed on your dealings.

14.3 You shall be entitled to terminate this Agreement by providing us with thirty (30) days written notice in advance and only if:

14.3.1 you have no open Transactions on the Trading Platform; and

14.4 We shall be entitled to terminate this Agreement immediately by providing you written notice, with or without cause, in our sole and absolute discretion.

14.5 If you have committed an Event of Default or we decide to terminate the Agreement pursuant to Section ‎14.4, we may, in our absolute discretion, at any time and without prior notice:

14.5.1 close all or any of your open Transactions at a closing price based on the then prevailing quotations or prices offered on the Trading Platform or, if none, at such levels as we consider fair and reasonable;

14.5.2 exercise any set-off rights we have under this Agreement, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them, without notice to you, at such price and in such manner as we, acting reasonably, decide, applying the proceeds of such sale to discharge the costs of the sale and the sums secured pursuant to this Section;

14.5.3 if you have failed to make a payment when due, inform your partner, employer, any professional, regulatory or other organization with which you are associated or any person who we believe to have an interest in knowing such facts of the amount of such overdue sum, the circumstances thereof, the fact that you have failed to make payment, and any other relevant facts or information. By entering into this Agreement you expressly consent to any disclosure of this data by us in the circumstances set out herein; and

14.5.4 close all or any of your accounts held with us of whatever nature and refuse to enter into further Transactions with you.

14.6 If we take any action under Section ‎14.3‎14.5, unless in our absolute discretion we consider it necessary or desirable to do so without prior notice to you, we will use reasonable endeavors to provide you with prior notice.

14.7 In the case of your termination pursuant to Section ‎14.1 or ‎14.3, or following our actions under Section ‎14.3‎14.5, we shall forward to you any balances in your Trading Account by (i) transferring such funds directly to the bank account, or (ii) sending a check by mail to the address, recorded in your Registration Data.

14.8 In our absolute discretion and based on our assessment of your financial condition, we may, in the event of your failing to meet a demand for a Margin Call or your being in excess of any credit limit placed on your Trading Account, allow you to continue to trade with us, or allow your open Positions to remain open. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Positions to remain open, this may result in your incurring further losses.

14.9 The rights set forth in this Section ‎14 shall be in addition to, and not in limitation or exclusion of, any other rights which a non-defaulting party may have (whether by agreement, operation of law or otherwise).

15 CONFIDENTIALITY

15.1 You acknowledge that the Trading Platform constitutes valuable proprietary information belonging to us and our licensors, and that unauthorized dissemination or disclosure of the Trading Platform, or a breach of this Section ‎15, could cause us irreparable harm for which money damages may not be a sufficient remedy. “Confidential Information” means any proprietary information, including trade secrets and other information, which is disclosed by us or our affiliates (including without limitation information of affiliates and third parties), whether tangible or intangible, including, but not limited to, the terms of this Agreement and information relating to the Trading Platform, technical and financial information and any improvements, enhancements, product specifications and plans, technical data, know-how, show-how, techniques, algorithms, routines, compositions, processes, formulas, methods, designs, design rules, drawings, flow charts, samples, inventions (whether reduced to practice or not), discoveries, concepts, ideas, past, current and planned research, development or experimental work, hardware, software (object code and source code), databases, systems, structures, modules included in Trading Platform, the structure, sequences and organization of such software or modules, architectures, current and planned distribution methods and processes, customer lists, current and anticipated customer requirements, price lists and market studies, except any portion thereof which is now available or later becomes available to the public without breach of this Agreement, is lawfully obtained from a third party or parties who are under no obligation of confidentiality to us, or is known to you prior to such disclosure as evidenced by your written records.

15.2 During the term of this Agreement and also after its expiration or termination, you shall (i) hold in strict confidence any and all Confidential Information, (ii) shall limit access to the Confidential Information to those of your employees and consultants who need to have access to such information or material for the purpose of your use of the Trading Platform under this Agreement and who are obligated to maintain confidentiality sufficient to protect our rights in the Confidential Information and under terms no less protective than as set forth in this Agreement, (iii) shall protect the confidentiality of the Confidential Information with the same degree of care as for your own information of like importance, but at least use reasonable care, (iv) shall promptly notify us in writing of any unauthorized use or disclosure of the Confidential Information, and provide reasonable assistance to us and our licensors in the investigation and prosecution of such unauthorized use or disclosure, and (v) shall not use the Confidential Information except for exercising your rights hereunder. Promptly after termination of the license granted to you pursuant to this Agreement, all materials containing our Confidential Information shall be returned to us, at our first demand.

15.3 You acknowledge that we shall be entitled to seek specific performance and injunctive relief as remedies for any breach or threatened breach of any provision of this Section ‎15, which remedies shall not be deemed to be exclusive remedies for such breach or threatened breach by you, but shall be in addition to all other remedies available to us at law, in equity, or otherwise.

16 PRIVACY POLICY

Certain information about you or collected on your behalf is subject to our Privacy Policy at http://www.plus500.com/Help/PrivacyPolicy.aspx located on the Site. By using the Trading Platform, you consent to the collection and use of information as described in our Privacy Policy, as may be amended by us from time to time.

17 REPRESENTATIONS AND WARRANTIES

17.1 You represent and warrant to us that each of the following representations and warranties are deemed repeated each time you open or close a Transaction by reference to the circumstances prevailing at such time:

17.1.1 the Registration Data provided to us during the download and registration for the Trading Platform and at any time thereafter is true and accurate in all respects;

17.1.2 you shall immediately notify us of any changes to your financial information and/or in your financial condition;

17.1.3 you will notify us immediately of any change in your Registration Data;

17.1.4 you log out of your Trading Account at the end of each session on the Trading Platform;

17.1.5 you shall immediately notify us in writing if you become aware of any loss, theft or use by any other person or entity other than you, of any of your Registration Data including but not limited to your Account Credentials;

17.1.6 you are of sound mind, legal age and legal competence;

17.1.7 you are duly authorized to execute and deliver this Agreement, to open each Transaction and to perform your obligations hereunder and thereunder and have taken all necessary action to authorize such execution, delivery and performance;

17.1.8 you will enter into this Agreement and open each Transaction as principal;

17.1.9 you understand how a CFD and a Transaction operates before you place an offer to open a Transaction on the Trading Platform. By doing so, you warrant that you understand the terms and conditions of this Agreement, and any legal and financial implications thereto;

17.1.10 any person representing you in opening or closing a Transaction will have been, and the person entering into this Agreement on your behalf is, duly authorized to do so on your behalf;

17.1.11 you are not an employee of any Exchange, a corporation in which any Exchange owns a majority of the capital stock, a member of any Exchange and/or firm registered on any Exchange or any bank, trust or insurance company that trades the same instruments as those offered by us;

17.1.12 you will not enter into any Transaction for the purposes of arbitrage, scalping or to exploit any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform;

17.1.13 you have obtained all governmental or other authorizations and consents required by you in connection with this Agreement and in connection with opening or closing Transactions and such authorizations and consents are in full force and effect and all of their conditions have been and will be complied with;

17.1.14 you have taken all useful and reasonable steps to understand the specifications and characteristics of the Trading Platform and the associated hardware, software, data processing and telecommunication systems and networks required to access and operate the Trading Platform;

17.1.15 the execution, delivery and performance of this Agreement and your use of the Trading Platform including each Transaction you complete thereto will not violate any law, ordinance, charter, by-law or rule applicable to you, in the jurisdiction in which you are resident, or any agreement by which you are bound or by which any of your assets are affected; and

17.1.16 other than in exceptional circumstances, you will not send funds to your Trading Account, or request that funds be sent from your Trading Account to a bank account other than as stipulated in the Registration Data. Whether exceptional circumstances exist will be determined by us from time to time.

17.2 Any breach by you of the warranties set forth in Section ‎17.1 or anywhere else in this Agreement renders any Transaction voidable from the outset or capable of being closed by us at our then prevailing prices, in our absolute discretion.

18 COUNTERPARTY DISCLOSURE

18.1 The trading you conduct on the Trading Platform is not conducted on an Exchange. We act as a counterparty in Transactions conducted on the Trading Platform and, therefore, act as the buyer when you offer to sell an Instrument and the seller when you offer to buy an Instrument. The prices we offer on the Trading Platform might not be the best prices available.

18.2 Although we are the counterparty to each of your Transactions, we may limit our risk by immediately hedging (offsetting) your Transactions with another transaction that we enter into with a Financial Institution. We are compensated by marking up the price we received from the Financial Institution. You should be aware that we may make money if the market goes against you. Additionally, since we act as the buyer or the seller in a Transaction, you should carefully evaluate any trade information you receive from us, or from any referred Financial Institution.

19 INDEMNITY

19.1 You agree to indemnify, and hold us, our affiliates, employees, agents, successors and assigns harmless, from and against any and all liabilities, losses, damages, costs and expenses, including attorney fees, we incur arising out of your failure to fully and timely perform your obligations under this Agreement or any Third Party Licenses, or as a result of your breach of any warranty, representation or covenant made by you under this Agreement or any Third Party Licenses. Without derogating from the generality of the foregoing, you agree to be fully and personally liable for the due settlement of every Transaction entered into using your Account Credentials on the Trading Platform, including any and all taxes, fees and assessments that may be payable with respect to a Transaction to any governmental entity. You agree to indemnify fully in respect of all liabilities, costs and losses whatsoever as we may incur as a result, direct or indirect, of your failure to perform or settle a Transaction, including with respect to Financial Institutions which we contract with to execute Transactions on your behalf.

19.2 You also agree to promptly pay us all damages, costs and expenses, including attorney’s fees, we have incurred in the enforcement of any of the provisions of this Agreement and any other agreements we have with you. Further, we shall not be held liable and are released from all claims and losses arising out of (a) your conduct, including without limitation your use of the Trading Platform, (b) any act or omission by any person obtaining access to your Trading Account or Account Credentials, whether or not you have authorized such access or not, (c) delay, failure or error by you in implementing any instruction we have provided to you, (d) inaccurate or incomplete instructions received by you, (e) any reliance or use by you or any other third party with access to your Trading Account of any Financial Data, whether to complete a Transaction on the Trading Platform or for any other purpose whatsoever: provided that we promptly notify you in writing of any such claim and allow you to participate, at your own expense, in the defense of any such claim. You shall not enter into any settlement or compromise of any such claim without our prior written consent.

20 DISCLAIMER

20.1 We, specifically, do not warrant that (a) the Trading Platform will meet your requirements, (b) your equipment, software, and communication connections will be compatible with the hardware and software we employ to provide the Trading Platform, (c) the use of the Trading Platform will be uninterrupted, secure or error-free, (d) we will be able to prevent third party disruptions of and to the operation of the Trading Platform, (e) patches or workarounds will be provided to the Trading Platform, (f) errors will be corrected in the Trading Platform, or (g) we will detect every bug in the Trading Platform.

20.2 You acknowledge that we do not control the transfer of data over telecommunications facilities, including without limitation the internet, nor are we responsible for communication failures, distortions or delays when trading online (via the internet or a mobile service). We hereby further disclaim any, and shall have no, liability resulting from or related to any (i) disruption of your connections to the internet, (ii) loss to or corruption of any of your data or records, whether stored on the Trading Platform or not, or lack of back-up thereof, (iii) security breaches resulting in part or in whole from third-party software or networking goods or services or from actions or events outside of our reasonable control, (iv) provision of security-related services or advice that we may voluntarily provide outside the scope of this Agreement, and (vi) use of the Trading Platform that is not in strict compliance with this Agreement, Third Party Licenses or any technical documentation we provide to you or make available to you by any other means, including without limitation, on our Site.

21 LIMITATION OF LIABILITY

IN NO EVENT WILL WE OR OUR LICENSORS, DIRECTORS, OFFICERS OR EMPLOYEES BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR SPECIAL LOSSES OR DAMAGES (INCLUDING, BUT NOT LIMITED TO, ANY LOSS OR CORRUPTION OF DATA, LOST PROFITS, LOST SAVINGS, BUSINESS INTERRUPTION OR OTHER FINANCIAL OR OTHER LOSS), OR FOR ANY CLAIM BY ANY THIRD PARTY OR FOR AN INJURY OR LOSS OF LIFE OF ANY PERSON, RESULTING FROM OR RELATED IN ANY WAY TO (I) THE USE OF, OR INABILITY TO USE THE TRADING PLATFORM, (II) ANY SERVICES PROVIDED BY US OR ON OUR BEHALF, (III) AN UPGRADE OF OR MAINTENANCE TO THE TRADING PLATFORM AND ANY DOWNTIME THERETO FOR ANY REASON, (IV) YOUR INABILITY TO ACCESS THE TRADING PLATFORM OR ITS PROPER OPERATION DUE TO ANY MALFUCTIONING NETWORK, (V) YOUR HARDWARE OR SOFTWARE FAILURE, (VI) INADEQUATE SECURITY ON YOUR PART, SPECIFICALLY IN PROTECTING THE ACCOUNT CREDENTIALS, REGISTRATION DATA AND PHYSICAL ACCESS TO YOUR HARDWARE, NETWORKS AND SYSTEMS, (VII) A FAILURE ON YOUR PART TO COMPLY WITH APPLICABLE LEGAL AND REGULATORY OBLIGATIONS INCLUDING THE PAYMENT OF TAX WITH RESPECT TO YOUR TRADING ACTIVITIES ON THE TRADING PLATFORM, (VIII) ANY THIRD PARTY ACT, IN PARTICULAR REMOTE INTRUSION OR VIRUSES, (IX) THIS AGREEMENT INCLUDING ANY ACT, OMISSION OR FAILURE OF OURS UNDER THIS AGREEMENT (UNLESS SUCH EXCLUSION IS PROHIBITED BY LAW), INCLUDING IN THE EVENT OF TORTIOUS CONDUCT, BREACH OF CONTRACT OR OTHERWISE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES.

WE ARE NOT RESPONSIBLE FOR ANY LOSS OR DAMAGE CAUSED, DIRECTLY OR INDIRECTLY, BY ANY EVENTS, ACTIONS OR OMISSIONS BEYOND OUR CONTROL INCLUDING, WITHOUT LIMITATION, LOSS OR DAMAGE RESULTING DIRECTLY OR INDIRECTLY FROM ANY DELAYS OR INACCURACIES IN THE TRANSMISSION OF OFFERS, INFORMATION BREAKDOWN IN AND FAILURE OF ANY TRANSMISSION OR COMMUNICATION ON THE TRADING PLATFORM OR OTHERWISE.

WITH RESPECT TO ANY FINANCIAL DATA OR OTHER INFORMATION THAT WE OR ANY THIRD PARTY SERVICE PROVIDER PROVIDE TO YOU IN CONNECTION WITH YOUR USE OF THE TRADING PLATOFRM, (I) WE AND ANY SUCH PROVIDER ARE NOT RESPONSIBLE OR LIABLE IF ANY SUCH DATA OR INFORMATION IS INACCURATE OR INCOMPLETE IN ANY RESPECT; (II) WE AND ANY SUCH PROVIDER ARE NOT RESPONSIBLE OR LIABLE FOR ANY ACTIONS THAT YOU TAKE OR DO NOT TAKE BASED ON SUCH DATA OR INFORMATION; (III) YOU WILL USE SUCH DATA OR INFORMATION SOLELY IN ACCORDANCE AND FOR THE PURPOSES SET FORTH IN THIS AGREEMENT; (IV) SUCH DATA OR INFORMATION IS PROPRIETARY TO US AND TO THIRD PARTY PROVIDERS AS APPLICABLE, AND YOU WILL NOT RETRANSMIT, REDISTRIBUTE, PUBLISH, DISCLOSE OR DISPLAY IN WHOLE OR IN PART SUCH DATA OR INFORMATION TO THIRD PARTIES EXCEPT AS REQUIRED BY APPLICABLE REGULATIONS; AND (V) YOU WILL USE SUCH DATA OR INFORMATION SOLELY IN COMPLIANCE WITH ANY APPLICABLE LAWS AND REGULATIONS.

Without detracting from any other limitation of our liability contained elsewhere in this Agreement, the maximum amount of our liability in respect of any losses that you may suffer in connection with any advice given by us regarding a Transaction will be limited to four times the amount of Difference payable in respect of that Transaction.

22 RECORDS

Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with the Trading Platform. You will not object to the admission of our records as evidence in any legal or regulatory proceedings because such records are not originals, are not in writing or are documents produced by a computer. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request in our absolute discretion.

23 CONSENT TO ELECTRONIC TRANSMISSION OF CONFIRMATION AND ACCOUNT STATEMENTS

You hereby consent to have your Trading Account information and trade confirmations available on the internet in lieu of having such information delivered to you via mail or email. You will be able to access account information via the Trading Platform using your Account Credentials. We will post all of your account activity and you will be able to generate daily, monthly and yearly reports of account activity as well as a report of each executed trade. Updated account information will be available no more than 24 hours after any activity takes place on your Trading Account. Posting of account information on your online account will be deemed delivery of confirmation and account statements. At all times, account information will include trade confirmations with ticket numbers, purchase and sales rates, Margins, amounts available for trading, statements of profit and loss, as well as current open and pending Positions. You make revoke your consent at any time by closing your Trading Account in accordance with this Agreement.

24 MISCELLANEOUS

24.1 Entire Agreement. This Agreement constitute the final and complete agreement between the parties regarding the subject matter hereof, and supersede any prior or contemporaneous communications, representations or agreements between the parties, whether oral or written. The terms and conditions of this Agreement may not be changed, except by an express amendment in writing signed by an authorized officer of each party.

24.2 Additional Services. You acknowledge that we provide and may provide the Trading Platform to other parties, and agree that nothing herein will be deemed or construed to prevent us from providing such services.

24.3 Assignment. You may not assign any of your rights or delegate any of your obligations under this Agreement, whether by operation of law or otherwise, without our prior written consent. You acknowledge and agree that we may assign our rights or obligations under this Agreement to a successor of all or substantially all of our business or assets without your prior written consent. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties and their respective successors and permitted assigns, and is not intended to confer upon any other entity or person any rights or remedies hereunder.

24.4 Waiver; Remedies. No failure or delay by either party in exercising any right or remedy under this Agreement shall operate or be deemed as a waiver of any such right or remedy. All remedies pursuant to this Agreement shall be cumulative and shall not derogate from any other remedies in law, equity or otherwise.

24.5 Governing Law; Courts. This Agreement will be governed by and construed in accordance with the laws of Cyprus, without regard to its choice of laws principles. Any dispute or claim regarding this Agreement shall be subject to the exclusive jurisdiction of the courts located in Nicosia and each party hereto expressly submits to the jurisdiction of said courts in such an instance and hereby waives any objection to the venue of such courts. We may institute proceedings against you regarding this Agreement in a competent court in any foreign jurisdiction of our choice including any jurisdiction in which you or your assets are located.

24.6 Notices. All notices, requests, demands and other communications hereunder shall be given in writing and shall be: (a) personally delivered; (b) sent by telecopier, facsimile transmission or other electronic means of transmitting written documents; or (c) sent to the parties at their respective addresses by registered mail, return receipt requested and postage prepaid, or by private overnight mail courier service. The respective addresses to be used for all such notices, demands or requests are as follows:

If to the Company, to:

Plus500 Ltd
Fax Number: +44 203 002 7290
or to such other person or address as we may advise you from time to time.
If to you, in accordance with your Registration Data.

If personally delivered, such communication shall be deemed delivered upon actual receipt; if electronically transmitted pursuant to this paragraph, such communication shall be deemed delivered the next business day after transmission (and sender shall bear the burden of proof of delivery); if sent by overnight courier pursuant to this paragraph, such communication shall be deemed delivered upon receipt; and if sent by certified mail pursuant to this paragraph, such communication shall be deemed delivered as of the date of delivery indicated on the receipt issued by the relevant postal service, or, if the addressee fails or refuses to accept delivery, as of the date of such failure or refusal. Any party to this Agreement may change its address for the purposes of this Agreement by giving notice thereof in accordance with this Section, or as otherwise permitted by this Agreement.

24.7 Independent Entities; No Government Entity. The parties are independent entities. Neither party shall be deemed to be an employee, agent, partner, joint ventures or legal representative of the other for any purpose, and neither shall have any right, power or authority to create any obligation or responsibility on behalf of the other.

24.8 Severability. Any provision of this Agreement that is held to be unenforceable in any jurisdiction shall be ineffective only as to that jurisdiction, and only to the extent of the unenforceability of such provision without invalidating the remaining provisions hereof. The headings of this Agreement are solely for convenience purposes and shall not be used in the interpretation of this Agreement.

25 DEFINITIONS

25.1 “Account Credentials” mean a unique username and password used by you to access and use the Trading Platform.

25.2 “Authorized Person” means you or any of your officers, partners, principals or employees.

25.3 “Buy” means a Transaction that is opened by offering to buy a specific number of a certain Instrument, and may also in our dealings with you, be referred to as a “long” or “long position”.

25.4 “CFD” (contract for difference) means a contract that you enter into with us, for the difference between the value of an Instrument as specified on the Trading Platform at the time of opening a Transaction, and the value of such Instrument at the time of closing the Transaction.

25.5 “Close at Loss” means an offer to close a Transaction at a price determined in advance by you which, in the case of a Buy is lower than the opening Transaction price and in the case of a Sell is higher than the opening Transaction price.

25.6 “Close at Profit” means an offer to close a Transaction at a price determined in advance by you which, in the case of a Buy is higher than the opening Transaction price and in the case of a Sell is lower than the opening Transaction price.

25.7 “Difference” means the difference in price upon the opening of a Transaction and the closing of such Transaction, plus or minus the Premium, as applicable.

25.8 “Effective Date” means the date upon which you download or obtain a copy of the Trading Platform, by any means whatsoever.

25.9 “Event of Default” means any of the events set forth in Sections ‎14.1 and ‎14.2.

25.10 “Exchanges” means securities or futures exchanges, clearing house, self-regulatory organizations or alternative trading system for Instruments.

25.11 “Expiry Date” means the date set specified on the Trading Platform with respect to certain Instruments upon which any open Transaction for such Instruments shall expire automatically.

25.12 “Financial Data” means any financial and market data, quotes, news, analyst opinions, research reports, graphs or any other data or information whatsoever available through the Trading Platform.

25.13 “Financial Institutions” means global banks, financial institutions, brokers or other trading organizations.

25.14 “Force Majeure Event” means the existence of an emergency or an exceptional market condition, including without limitation, the events set forth in Section ‎6.1.

25.15 “Initial Margin” means the minimum amount of money required in your Trading Account in order to open a Transaction, as specified on the Trading Platform from time to time for each specific Instrument.

25.16 “Instrument” means stocks, shares, commodities, exchange rates, future contracts, indices, or other financial instruments, which are offered through the Trading Platform.

25.17 “Maintenance Margin” means the minimum amount of money required in your Trading Account as specified on the Trading Platform in order to keep a Transaction open on the Trading Platform.

25.18 “Manifest Error” means any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute Transactions for exaggerated volumes of Instruments or prices at a clear loss.

25.19 “Margin” means the Initial Margin and the Maintenane Margin collectively.

25.20 “Margin Call” means a demand by us for you to increase the amount of money in your Trading Account to satisfy our Margin requirements, from time to time in our sole and absolute discretion, including without limitation a call under Section ‎5.5.2.

25.21 “Normal Market Size” means the maximum number of Instruments that we believe, in our sole discretion, an Exchange trading in such an Instrument can comfortably handle, having regard, if appropriate, to the normal market size set by such an Exchange or any other equivalent or analogous level set by the Exchange on which the Instrument is traded.

25.22 “Order” means a Close at Loss or Close at Profit order.

25.23 “Premium” means an amount either added or subtracted from your account, as applicable, based on the rate set forth on the Trading Platform from time to time, for any Transaction that is open at the end of the international trading day (as such term is commonly known) or over the weekend when the Exchanges are closed.

25.24 “Registration Data” means certain personal information that you are required to provide in order to download and use the Trading Platform including Account Credentials.

25.25 “Sell” means a Transaction that is opened by offering to sell a specific number of a certain Instrument, and may also in our dealings with you, be referred to as a “short” or “short position”.

25.26 “Site” means www.plus500.com.

25.27 “Third Party Licenses” means licenses from third parties governing third party software embedded or used in the Trading Platform.

25.28 “Trading Account” means your online account used to trade on the Trading Platform.

25.29 “Trading Hours” means the hours of trading as set forth on the Trading Platform for a particular Instrument.

25.30 “Trading Platform” means the Plus500™ (together with any other programs, tools, services, upgrades, bug fixes and updates if any, and the underlying code thereto.

25.31 “Transaction” means either the opening or closing of an offer to either buy or sell a CFD for an Instrument on the Trading Platform, whether by you or us, in accordance with the terms of this Agreement.

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