TRADING TERMS AND CONDITIONS
The terms and conditions between us, Ibrokers trading solutions Ltd ( Address: 3rd Floor, C&H Towers, Corner of Great Marlborough and Great George Streets Roseau, 00152, Dominica ), and our clients are described here below. This agreement will describe the terms and conditions as well as the applicable risks of using the services available on our website.
As our customer, you must read, agree and accept all the terms and conditions under this User Agreement. You will be deemed to have accepted the terms and conditions under this agreement when you access and use the services we offer on our website.
Scope of this Agreement
All the contractual affiliation between iBrokers and the customer will be determined in this agreement. Reading, understanding and agreeing with the terms and conditions is mandatory to all customers before entering into a contractual affiliation with us. Upon acceptance of the stated terms and conditions, the agreement will take effect and allow for registration and continuous use of our website services.
Opening an Account
In order to enter into trading transactions, you will need to register and open an active account with us. For the entire duration of your cooperation with us, you as the customer will be expected to maintain an active account. We offer several account options and you will be free to choose that which fits your needs. Depending on your needs, you may also be allowed to upgrade your account.
True, current and complete identification will be needed to facilitate the opening of your account. By agreeing to open an account with us, you should be willing to provide us with your true, current and complete identification. As per the law requirements, we should obtain, verify and record any data that identifies each person who registers and opens an account with us. Proof of identification may be required when opening an account with us. As the service provider, we reserve the right to reject or refuse to register you at our own discretion or based on the regulatory restrictions imposed on us by the law.
As a client, you are entitled to full refund of any unused funds in your account. The company will not be held responsible incase the client looses his/her money in a trade. There shall be no refund in such a case. In case a client wants a refund of their money, he/she should present us with the KYC documents. The company will then initiate the refund request. The refund may take up to 7 days before getting into the client’s account. The same method used to deposit shall be used to refund.
There may be charges applied as refund transaction fees or any type of fee that is related to the request to refund.
Governing Law and Exclusive Courts
This agreement will be governed in accordance with the laws of Dominica. This is without any regards to its choice of law principles. Any legal action or court proceedings should be exclusively brought to the courts of Dominica. There is an irrevocable consent by both parties to the jurisdiction and venue.
Statement about Cardholders’ Responsibilities Regarding Laws in their Jurisdiction
It is important for all clients to note that laws regarding financial contracts may vary across the world and thus, it is upon the clients to ensure 100% compliance with any law, regulation and directive relevant to your country of residence to the use of this website.
iBrokers is a trading services company. Transparency in all our processes is our guide to the relationship with our clients. Though we select the bank in which the money is kept, any money received from you, as our customer, will be treated as your persona money and not the Company’s money. The money is kept in separate bank accounts. We conduct several reviews as well as monitoring the terms of operation of these accounts.
The customer will choose the currency of operation and payment. The customer will choose the currency when opening an account with us.
Funds in your bank account, credit cards and debit cards will be accepted as funds paid to us. When registering, we will provide you with the option of choosing a primary payment method of your choice and convenience. We will utilize the method of payment you have chosen when making transactions with us.
You must notify us if and when you wish to terminate an account with us. We also have the right to terminate your account at our discretion, only based on certain grounds. Before terminating your account, we will notify you, via email, a reasonable notice in regards to the termination.
There are different grounds in which your account may be terminated. Such grounds include material breach of any clause included in this agreement, any abusive act that places the company or any of its operation under jeopardy, an act of bad faith, and fraudulent or misleading information or identification. Furthermore, we may suspend or terminate an account based on regulatory restrictions imposed on us.
We will refund to you all the funds in your account upon termination. There shall be deduction from your funds if there are any losses our company may incur caused by your account termination.
We have the rights over all intellectual property of our platforms, services and products. You are only allowed to use our services for the purposes of trading only.
Intellectual property that we own include any copyrighted material, processes, systems & platforms, patents, websites, trademarks, database, design, methodology, trades secrets, source code, business plan and promotional material. All the rights and interest in all of our intellectual property rights are retained by the company.
By opening an account with us, you agree and acknowledge that you will not use our services and products for any unauthorized activities. Unauthorized activities are defined as acts involving money laundering, trading on off market quotes, arbitrage or any other action disallowed by our company. In case we have reasons to believe that you are involved in an unauthorized activity, we may, at our discretion, cancel your transaction or terminate our agreement with you.
-Upon receiving a relevant request from the client, the company shall make withdrawals of the client’s funds. The methods used for withdrawal must be accepted by the company and may change from time to time.
-The company has up to seven (7) days to pay the client upon receiving withdrawal instructions from the client. There are requirements that must be met for the withdrawal to be effected. The requirements to be met include:
a. All required information is included in the withdrawal instruction.
b. The instruction is to make a transfer to the original account from which the money was originally deposited.
c. The client owns the account in which the payment is to be made
d. At the exact time of payment, the amount in the client’s balance must exceed the amount specified in the withdrawal instruction with all the related charges.
e. There is no Force Majeure that prohibits the company from effecting the withdrawal.
It is agreed upon and understood that the Company will not accept payment in the Client’s account by third party or anonymous and neither shall the Company make withdrawals to any third party or anonymous accounts.
– The Company reserves the right to reasonably decline a withdrawal request of the Client asking for a payment/transfer method. The Company can suggest and an alternative in such cases.
– The Client shall bear all the payment and transfer charges after which the Company shall debit the relevant Client Account for such charges.
– The client has the discretion of requesting the Company to transfer funds to another Client Account held by him/her with the Company. The company policy shall guide the internal transfer of funds.
– Any mistake made by the Company during transfer of funds shall be refunded to the client. The Client may have to suffer a loss if he/she provides wrong instructions for a transfer.
Exclusion of Liability
To enter into a contractual agreement with us, you must be of over 18 years.
We operate our services electronically. Any system failure from our end or your end shall not be held against us. System failure include and not limited to internet connection failure, electrical power cut, telephone communication failure, high internet traffic, hardware error, malicious interface, and mobile application failure.
As a client, you agree not to transmit to or expose our system to any computer virus or malicious material or device. We will also not be held liable for the loss of profit or any accidental or consequential damages that can arise out of our system, website, services or products except as stated in this agreement.
Any prior verbal or written communication or understanding is superseded by this agreement. We have the right to review, amend or change the terms and conditions in this agreement.
It is our intention as a company to resolve any matter arising out of a dispute amicably. Your personal account manager is tasked with solving any dispute directly with you. Failure for him to resolve the issue at initial stages, an arbitrator may be referred to solve the issue.
“Governing Law and Exclusive Courts” – This agreement will be governed in accordance with the laws of Dominica. This is without any regards to its choice of law principles. Any legal action or court proceedings should be exclusively brought to the courts of Dominica. There is an irrevocable consent by both parties to the jurisdiction and venue.
Margin Call Policy
Trading accounts with iBrokers will automatically experience a margin call if the criteria below are met. It is important to note that proper risk management and placing of stop losses reduces the need for a margin call on a traders account. We advise all clients and traders to strictly adhere to margin requirements when trading.