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This brief statement does not disclose all of the risks and other significant aspects of trading foreign exchange currency contracts. In considering whether to trade Forex Contracts, Client should be aware of the following:
Foreign Exchange Trading is highly speculative and is suitable only for those Clients who:
a) understand and are willing to assume the economic, legal and other risks involved, and
b) are financially able to assume losses significantly in excess of Margin or deposits.
Client represents, warrants and agrees that Client understands these risks; that Client is willing and able, financially and otherwise, to assume the risks of Foreign Exchange Trading and that loss of Client's entire Account Balance will not change Client's life style.
High Leverage and low Margin can lead to quick losses. The high leverage and low Margin associated with Foreign Exchange Trading can result in significant losses due to price changes in Foreign Exchange Contracts. A relatively small market movement will have a proportionately larger impact on the funds deposited. The Client must consider that if the market moves against the Client, the Client may sustain a total loss greater than the funds deposited. The Client is responsible for all the risks, financial resources the Client uses and for the chosen trading strategy. Client must maintain the Minimum Margin Requirement on his/her Open Positions at all times. It is the Client's responsibility to monitor his/her Account Balance. FinFX has the right to liquidate any or all Open Positions whenever the Minimum Margin Requirement is not maintained. Increasing Leverage increases risk.
Due to market conditions or other circumstances FinFX may be unable to close out Client's position at the level specified by Client. Client agrees that FinFX will bear no liability for failure to do so.
FinFX encourages each of its Clients to use only that portion of leverage that such Client is most comfortable with and to use money management precautions such as, but not limited to, Stop Loss Orders for the purpose of managing risk. However, the placing of certain orders (e.g. "stop-loss" orders) that are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. At times, it may also be difficult or impossible to liquidate a position without incurring substantial losses.
The Client acknowledges that under Abnormal Market Conditions the period during which the Instructions and Requests are executed may be extended.
Various situations may arise over a weekend (Saturday 12.00 a.m. - Sunday 11.59 p.m.) or during a holiday when the financial markets generally close for trading, that may cause the markets to open at a significantly different price from where they closed. FinFX Clients will not be able to use the FinFX trading system to place or change orders over the weekend, on market holidays or/and at other times when the markets are generally closed. There is a substantial risk that stop-loss orders left to protect open positions held during these periods will be executed at levels significantly worse than their specified price.
FinFX's automated order enter system provides immediate transmission of Client's order once Client enters the notional amount and clicks "Buy/Sell". There is no "second look" before transmission, and Market Orders cannot be cancelled. This feature may be different from other trading systems. Client should utilize the Demo Trading System to become familiar with the process before trading online. In case the Client has not received the result of the execution of the previously sent Instruction but decides to repeat the Instruction, the Client shall accept the risk of making two Transactions instead of one.
When trading Live all orders are sent to markets and they will be realized at the best price available. This feature differs from Demo Trading when orders are realized at the price that is defined by Client.
In the event that Client grants trading authority or control over Client's Account to a third party (the "Trading Agent" or "Introducing Broker"), FinFX shall in no way be responsible for reviewing Client's choice of such Trading Agent or for making any recommendations with respect thereto. FinFX makes no representations or warranties concerning any Trading Agent; FinFX shall not be responsible for any loss to Client occasioned by the actions of the Trading Agent; and FinFX does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent. If the Client gives the Trading Agent authority to exercise any of its rights over its Account, Client does so at Client's risk. Even though the undersigned grants authority to Trading Agent, Client should be diligent and closely scrutinize all account activity.
FinFX shall not be liable for any claims, losses, damages, costs or expenses, including attorneys' fees, caused, directly or indirectly, by any breakdown or failure of any transmission or communication system or computer facility or trading software, whether belonging to FinFX, Client, any market, or any settlement or clearing system when Client trades online (via Internet).
The Client is wholly responsible for the privacy of the information received from FinFX and accepts the risk of any financial losses caused by the unauthorised access of the third party to the Client's Trading Account.
FinFX will provide prices to be used in trading, valuation of Client positions and determination of Margin requirements. Prices from FinFX are independent of prices of other institutions and businesses. Although FinFX expects that these prices will be reasonably related to prices available in the interbank market, prices reported by FinFX may vary from prices available to banks and other participants in what is known as the interbank market.
Before the Client begins to trade, he/she should obtain a clear explanation of all commission, fees, markups, markdowns and other charges for which he/she will be responsible. These charges will affect Client's net profit (if any) or increase Client's loss.
The market recommendations provided by FinFX are informational and do not constitute an offer to buy or sell, or solicitation of an offer to buy or sell. Each buy or sell decision by Client is an independent decision by Client. FinFX is not acting as an advisor or serving as a fiduciary to Client. Client agrees to indemnify and hold FinFx Trading Oy harmless from and against any and all liabilities, losses, damages, costs and expenses, arising there from. FinFX will not in any way be liable or responsible for any buy or sell trading actions done by the Client or for any losses arising there from.
There are no guarantees of profit or freedom from loss in Foreign Exchange Trading. Client has received no such guarantees from FinFX or from any of its representatives. Client is aware of the risks inherent in Foreign Exchange Trading and is financially able to bear such risks and withstand any losses incurred.
In case of a Force Majeure Event the Client shall accept the risk of financial losses.