TERMS & CONDITIONS
This agreement is between the client and MT Capital Partners, the owners of the Justrader trading platform.
MT Capital Partners is a Belize incorporated entity with offices in London, England. It is the responsibility of each client to review and understand this agreement. Please refer any questions or inquiries to our staff. This agreement may be changed and revised. It is the responsibility of the client to keep abreast of all changes and revisions.
This agreement supersedes any other agreement, and in the event of any interpretation issues with respect to any other sources, this agreement shall prevail. Any perceived contradictions should be relayed immediately to Justrader, for clarification. Any differences that may be perceived between the English literature and any of the other operational languages, the English version will default as the correct interpretation.
Order by which items appear have no correlation to their importance.
A) GENERAL UNDERSTANDING
BASIC FEATURES OF OUR RELATIONSHIP WITH CLIENT
Client: means any counterparty to Justrader, including but not limited to subscribers and users of the Justrader platform.
Base Currency: is the US Dollar
Business Day: is any day where the banking system is open in LONDON, ENGLAND.
Products: implies all products offered by Justrader via the platform and over the telephone.
Guarantee Enhancer: refers to any guarantees provided over and above the funds in a client's account. .
Trading Platform: refers to the electronic software provided to clients for the purpose of executing transactions.
Trade: refers to an execution of an order through our trading platform or via the telephone.
OTC: refers to transactions executed by Justrader. All our transactions are over the counter. We do not transact on exchanges.
JUSTRADER Trading Desk: means the trading desk operated by us at our premises.
JUSTRADER Online Trading System: means the internet-based trading system available at our Website that allows you to trade.
Network: covers all equipment involved in the execution of transactions. Including but not limited to hardware, software and the internet capabilities of both parties.
Completed Trade: is associated with any transaction where a confirmation is communicated to a client. Confirmation may take many forms, including but not limited to the posting of a transaction on the client’s trading blotter.
B) OVERVIEW OF TERMS AND CONDITIONS
COMMUNICATING WITH JUSTRADER
You can contact us via phone, email, mail or fax. Please note that the preferred language of communication is English, but you may transmit your message in Arabic, French, or Russian. If required, Justrader will secure the services of a translator. Do note however, that all reasonable efforts will be made to respond immediately in the aforementioned languages but if the services of a translator are required this will most definitely have an impact on the promptness of our response. Additional information may be available on our website.
In all transactions Justrader is the counterparty. This is a consequence of the nature of the products that we offer.
INITIATION OF AGREEMENT
This agreement becomes effective the moment when a client downloads a platform, including the demo version.
BUSINESS AND REGULATORY ENVIRONMENT
MT Capital Partners, and by extension Justrader comply to generally accepted rules and regulations, as well as generally accepted accounting norms. As is the case with multinational entities, MT Capital Partners will adhere to the applicable laws of the jurisdiction in which it operates. Justrader can and will pursue matters in any recognized jurisdiction.
If any regulatory body, requests information about a particular client or a particular transaction, Justrader will comply fully. Justrader will only disclose information to regulatory agencies and government agencies. We do not disclose any information to private third parties.
COSTS ASSOCIATED WITH YOUR ACCOUNT
In all situations except, ecn related activity, your costs or our revenue is incorporated in the spread of the instrument which the client trades. If your activity for whatever reasons triggers additional costs, Justrader will pass those costs unto you. With the exception of wire transfer fees, there are no other costs associated with your activity under normal market conditions and normal client behaviour.
Justrader will relay to the client as promptly as possible any requested amounts. Any balance not required for margin purposes will be furnished to the client as expediently as possible. Credit card deposits will be returned in like manner. Wires are also available, client should secure the information regarding the costs. Wire transfers incur a 40$ bank handling fee in addition to any charges assessed by your bank.
C) LONGEVITY OF AGREEMENT
This agreement shall be in force until client notifies in writing that he wishes to terminate agreement, or if Justrader for whatever reason notifies the client that this agreement is terminated. It is recommended that if client wishes to cancel agreement he notify Justrader by registered mail. Termination of contract does not release one of any liabilities that he has accumulated during the period contract was valid.
D) ADVISORY ROLE OF JUSTRADER STAFF
Justrader is in business solely for purposes of execution. Our sole concern is to provide clients with fast and efficient execution.
Justrader works on the assumption that clients are of mature age and sound mind. Consequently, Justrader presumes that a client is a fit and proper person with repsect to transacting. It is further presumed that any particular client transacts in a manner that is suitable to his risk tolerance, which in turn is a function of many variables including the client’s level of wealth and market knowledge.
OPINIONS AND RESEARCH
Justrader staff when asked will provide an opinion on a best effort and good faith basis. Our primary and sole business is providing facilities for fast and efficient execution. When client requests an opinion, staff members may provide a personal opinion which may be at odds with Justrader research. It is the responsibility of the client to process the opinion and consider it only as one component that enters into his trading decision making process.
In house research is provided not as recommendations but as opinions to be considered by client. Client is ultimately responsible for assimilating our research into his decision making process.
E) DEALING PROTOCOL
Justrader permits clients to transact through the three trading platforms we offer, or via telephone. If transaction is conducted via telephone Justrader staff reserves the right not to execute order if staff is not satisfied in the determination of the identity of the client. In such circumstances client may be asked additional information in order to determine the authenticity of the trade request. Please note that the telephone conversation may be taped. Transacting through the platform is considered final given that a password is required to activate your account. It is the responsibility of each client to protect his account against any unauthorized person. Any instructions handed to Justarder via the telephone will have an associated time limit. It is the responsibility of client to understand at what time the order ceases.
Under normal market conditions clients can execute to the extent that their margin can support. Under extraordinary conditions Justrader has the right to modify any aspect of an order including but not limited to order size, entry or exit price and instrument. Orders via the telephone may trigger additional requirements as they relate to client identity. Client will be notified immediately if the order is subject to any conditions.
SETTLEMENT AND CONFIRMATION OF TRADE
Electronic trading offers clients immediate confirmation of transactions. No additional correspondence will be generated. If client enters order via telephone, his confirmation will materialize by the posting of the transaction into his account. Account postings will take place on a best effort basis.
As part of our compliance protocol, Justrader will not forward funds to a third party. Monies will only be wired to an account which is in a name identical to that belonging to the account holder. No draft will be issued to a name other than the name of the account holder. This policy is in compliance with International anti money laundering laws. There will be no exceptions to this rule.
F) PLATFORM ISSUES
Justrader provides clients with three electronic vehicles from which to trade from. The flagship downloadable platform is the award winning MT4 Trading platform. This program is considered the premium platform by many market participants. It is the responsibility of the end user to fully understand its attributes. Justrader will not be responsible for any erroneous trades. Please note that until further notice the standard one lot size is 100,000. Consequently, a position of .01 lots represents 1000 units of the underlying.
Justrader also provides an internet based solution via the Justrader webtrader. This platform is found to be optimal by many clients who work behind a firewall and consequently have difficulty (if not out right impossible) in downloading a desk top, although there are no material differences in operation between the two platforms, it is the responsibility of the client to ensure that he has mastered the functionality of the program.
The third platform is a web based solution for hand held devices. As is the case with all platforms it is the client’s responsibility to understand its functionality.
Although Justrader makes every reasonable effort to assure no disruption to the service, if and when there is any disruption Justrader will not be held liable. As a backup it is recommended that clients close positions via telephone if and when system is not operating. Access to the trading platform is the sole responsibility of the account holder. If account holder believes his password has been compromised it is his responsibility to change password or inform Justrader to change password for him.
Justrader expects clients to diligently operate the software given to them. In effect, clients are to act as prudent administrators of the provided software. Any attempt to resale in whole or in part any of the services provided by Justrader will precipitate legal action.
G) TEMPORARY AND/OR PERMANENT WITHDRAWAL OF SERVICE
At Justrader’s discretion, we may without notice cancel your software. Such an act by Justrader can occur due but not limited to, the client consistently trying to trade without adequate margin, client may exhibit non professional behaviour when interacting with staff, on the orders of a recognized government agency and or regulator, the discovery of the presence of false or misleading information on the client’s account opening form or any other relevant document.
H) CLIENT FUNDS
Client funds are co-mingled with other client funds and our own working capital. Client funds do not earn interest. Procedures to facilitate a withdrawal will commence within 24 hours of receiving the request in good form. If request cannot be made because funds are currently used to finance open positions, the client will be notified, and the client will have to make adjustments to his position in order to facilitate his withdrawal.
In the event that the account is dormant with a balance, after a period of six months of inactivity, attempts will be made to contact client via email and/or phone, to return his funds. If contact fails then ownership of these funds is transferred to Justrader.
I) LEVERAGE AND MARGIN
Justrader is operating under the assumption that client understands the negative implications that may arise due to the use of financial leverage. Please review our Risk Disclosure Statement. Leverage in any multiple can trigger a margin call. A margin call arises when there is insufficient equity to carry the open position(s). The Justrader platform provides the client with a live continuously updated number pertaining to the available margin. This statistic has to be understood by the client, our staff is able to explain all related questions. When a margin call is triggered the client must decide if he is to honour it, or close out his positions. If the client agrees to maintain his position and honour the margin call, he must immediately forward funds. Failing to fund his margin call may and probably trigger a forced liquidation. In such an event Justrader staff closes out the open positions. These positions may be closed out at a point in time where the client incurs a debit in his account. Irrespective of the fact that the position was closed out by Justrader, any negative balances (debit) are still the responsibility of the account holder. Margin has to be provided in acceptable form, which implies that it be in the form of an inflow through a credit card or bank wire, in either US dollars or Euros.
J) CLIENT ATTRIBUTES
With respect to the attributes declared by the client and documentation provided, Justrader while making a reasonable effort to verify all documents presented, operates under the presumption that all forwarded documents are lawful, and the client is fully aware of the criminal nature of providing false documentation. Thus if a natural person is the client Justarder further assumes that the individual is of majority age, sound mind and a financially responsible. If client is a corporation Justarder presumes that it has been duly organized and constituted, and that the corporation is permitted to trade in financial instruments, and has the ability to sustain financial losses.
Irrespective, if the client is a natural person or a corporation, Justrader expects the client to behave in a compliant manner. Primarily being a prudent administrator of the software provided, adhering to any margin calls, and refraining from any behaviour that may disrupt a market or behaviour that is deemed to be predatory in nature.
K) IN THE EVENT THAT YOUR ACCOUNT IS DEEMED BY JUSTRADER TO BE IN DEFAULT YOU WILL LOSE YOUR TRADING PRIVILEGES AND THE AGREEMENT WILL BE TERMINATED. DEFAULT IS DEFINED BY JUSTRADER AS FOLLOWS:
You fail to honor any financial commitment towards Justrader, such as a margin call, where a reasonable period of 12 to 24 hours has been given to you.
Legal proceedings against you have been commenced by a third party, who shows evidence of legal proof.
You yourself have begun proceedings associated with financial mismanagement, such as bankruptcy.
A lien on your account has been placed by a regulatory authority.
You are incapacitated and one cannot realistically expect you to honor your trading obligations.
Any credit enhancer associated with your account has been cancelled or revoked.
You violate regulatory rules, such as concealing to Justrader that you are trading on behalf of third parties.
Any behaviour that may generate the interest of regulatory or law enforcement officials.
EVENT OF DEFAULT
In the event of a default, liquidation will occur in a manner deemed fit by Justrader. Any amount of money requested by the trustee or any other authorized person, on behalf of the client will be offset against any amounts due to Justrader, including but not limited to any legal fees that are associated with the defaulted account.
RESPONSIBILITIES OF JUSTRADER AND STAFF
Justrader, its parent company MT Capital Partners, and respective staff, will not be held liable, for any loses that a client may incur save the presence of fraud and gross negligence. While delivering our services we rely on many associates and technological devices, in the event of any malfunction throughout the chain, the aforementioned parties will remain harmless. Given the mode of delivery of our service, and the nature of this same service, a high degree of diligence is required on the part of the client. It is assumed that the client will have sufficient amount of computer savvy in addition to being able to assess the risk inherent in the trading of financial markets.