Terms and Conditions

1 Parties to This Customer Agreement

1.1 This Customer Agreement is made between Virgins Markets (hereinafter “the Company” or “We” or “Us”) and the persons who have completed the Application Form and whose application we have accepted.

2 Effect of the Agreement

2.1 This Customer Agreement takes effect when you accept it online on our website and when we confirm to you in writing and/or by electronic means that your Account has been opened and we have accepted you as our Client.


2.2 By continuing to place orders with us, you agree to continue to be bound by this Customer Agreement, which supersedes all other Agreements and terms of business which may previously have been in place between us.


2.3 We shall not be required and may be unable to accept you as a Client until all “Know Your Client” and Anti-Money Laundering documentation we require has been received by us. Until we have received all such documentation, properly completed by you, your account will not be enabled for trading.


2.4 Please be aware that we do not accept citizens from certain countries. US citizens or US residents are strictly not accepted as clients due to US Securities and Exchange Commission (“SEC”) rules.


3 Scope of Services

3.1 From the date on which your Account is activated we will:


(a) Receive and transmit orders for you in Financial Instruments,


(b) Provide foreign currency services provided they are associated with the provision of the Investment Service of Section 3.1 (a) herein,


(c) Provide for safekeeping and administration of financial instruments for the account of Clients, including custodianship and related services such as cash or collateral management,


(d) Investment research and financial analysis or other forms of general recommendations relating to transactions in Financial Instruments.


3.2 You acknowledge that our Services do not include the provision of investment advice. Any investment information as may be announced by the Company to you does not constitute investment advice but merely aims to assist you in investment decision-making. It is also understood and accepted that we shall bear absolutely no responsibility, regardless of the circumstances, for any such investment strategy, transaction, investment or information.


3.3 We will not advise you about the merits of a particular Transaction and you alone will make trading and other decisions based on your own judgment for which you may wish to seek independent advice before entering into. In asking us to enter into any Transaction, you represent that you have been solely responsible for making your own independent appraisal and investigation into the risks of the Transaction. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any Transaction.


3.4 We obtain information about your knowledge and experience in the investment field so that we can assess whether the service or product envisaged is appropriate for you. We shall assume that information about your knowledge and experience is accurate and we shall bear no responsibility if such information is inaccurate or changes without informing us and as a result we will not be able to assess the appropriateness and suitability of our services for you. If you fail to provide sufficient information in this regard (or fail to provide any information), we will not be able to assess whether you have the necessary knowledge and experience to understand the risks involved. If you still wish us to proceed on your behalf, we may do so, but we shall not be able to determine whether trading in CFDs is appropriate for you. Consequently, we strongly advise you to provide us with any requested information which we believe to be necessary for the purpose of enabling us to assess the appropriateness of our products for you.


3.5 We may periodically, and with our absolute discretion, withdraw all or any part of the Services temporarily or permanently.


4 Client Consents

4.1 You agree and understand that you will not be entitled to delivery of, or be required to deliver, the Underlying of the Financial Instrument, nor ownership thereof or any other interest therein.


4.2 You agree and understand that no interest shall be due on the money we hold in your Account.


4.3 You agree and understand that we will affect any Transactions with you as an agent. Thus, we will be transmitting your Orders for execution to another broker(s), and such broker(s) may be transmitting the orders received by us to other liquidity providers. These broker(s) are not necessarily operating in a regulated market. We are receiving set prices for the Financial Instruments you can trade on our platform and have no means of amending or requoting them.


4.4 You agree and understand that CFDs trading is not done in a regulated market.


4.5 You solemnly declare that you have carefully read and fully understood the entire text of the Customer Agreement herein with which you fully and unreservedly agree.


4.6 You solemnly declare that you have read, understood found satisfactory and accept as an integral part of this Customer Agreement the following information provided on our Website:


a) Risk Warnings and Risk Disclosures, and


b) Trading Conditions


4.7 You specifically consent to the provision of the information of Section 4.6 by means of our Website.


4.8 You confirm that you have regular access to the internet and consent to us providing you with information, including, but not limited to, information about amendments to our Customer Agreement, costs, fees, policies and information about the nature and risks of investments by posting such information on our Website.


4.9 You acknowledge that a variation which is made to reflect a change of law may, if necessary, take effect immediately and without prior notice. We may vary this Customer Agreement at any time and it remains solely your responsibility to stay informed about any changes. The latest version of our Customer Agreement is available for access on our Website.


4.10 Your trading account must be established for trading purposes only. The Company is not a bank, nor does it keep deposits as a bank. We keep deposits only to maintain margins supporting the trading account and trading activities.


4.11 The company maintains a zero-tolerance policy for abusive trading strategies, fraudulent activities, manipulation or any other scams. Such activities include, but are not limited to, misuse of deposited and promotional or bonus funds, swap arbitrage, bonus arbitrage, cash-backs, internal or external hedging, the use of any automated trading system and/or software (“trading robots”, “expert advisors”, etc.). If we deem there to be any of such activities, we reserve the right to annul and cancel any or all your past Transactions and debit all generated profits.


5 Risk Warning

5.1 You unreservedly acknowledge and accept that:


a) You run a great risk of incurring losses and damages as a result of trading in CFDs and/or Financial Instruments and accept and declare that you are willing to undertake this risk. The damages may include the loss of all your money as well as any additional commissions and other expenses,


b) CFDs and/or Financial Instruments carry a high degree of risk. The gearing or leverage obtainable in CFDs and/or Financial Instruments trading means that a small deposit or down payment can lead to large losses as well as gains. It also means that a relatively small movement can lead to a proportionately larger movement in the value of your investment and this can work against you as well as for you. CFDs and/or Financial Instruments Transactions have a contingent liability and you should be aware of the implications of this, in particular, the margining requirements,


c) When trading in CFDs and/or Financial Instruments, you are trading on the outcome of the price of an Underlying Asset and that trading does not occur on a regulated market, but over-the-counter (OTC),


d) Before deciding to trade on margin you should carefully consider your investment objectives, level of experience, and risk appetite,


e) You have chosen the particular type of service and Financial Instrument, taking your total financial circumstances into consideration, which you consider reasonable under such circumstances, and


f) There are risks associated with the use of online deal execution and trading systems including, but not limited to, software and hardware failure and internet disconnection. The Company is not responsible for such losses or failures.


5.2 The Company shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided. Any opinions, news, research, analyses, prices, or other information contained on this Website are provided as general market commentary, and do not constitute investment advice. The Company will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.


5.3 The contents of any report provided should not be construed as an express or implied promise, as a guarantee or implication that Clients will profit from the strategies herein, or as a guarantee that losses in connection therewith can, or will be limited.


5.4 Trades in accordance with the recommendations in an analysis, especially leveraged investments can be very speculative and may result in profits, as well as losses, especially if the conditions mentioned in the analysis do not occur as anticipated.


5.5 In case of any fault in pricing process, typing errors, entering errors and quoting errors through the electronic trading system and/or phone, the Company has full right to make any necessary modifications to the investor’s trading account in which the mistake took place.


5.6 If you do not understand the risks involved in trading foreign exchange or leveraged Financial Instruments, please do not trade.

6 Liability

6.1 You agree that we shall not be liable for any consequential, indirect, incidental or special loss (including loss of profits and trading losses) that result from your use of the Services even if you have advised us of the possibility of such loss. Consequential loss includes pure economic loss, loss of profit, loss of business and likely loss whether direct or indirect.


6.2 Other than through our negligence or willful default, we will not be held liable for any losses, damages or claims that result directly or indirectly from any person obtaining any access data that we have issued to you prior to you reporting to us the misuse of your access data.


6.3 We will not be held liable to you for any losses, damages or claims which result directly or indirectly from any research which you rely upon in making an Order, whether published by us or not.


6.4 We will not be held liable to you for any losses, damages or claims, which result directly or indirectly from a delay transmitting any Order.


6.5 We will not be held liable to you for any losses, damages or claims, which result directly or indirectly from any changes in the rates of tax.


6.6 We will not be liable for any losses, damages or claims which result directly or indirectly if we fail to receive any documents sent in respect of your Account or any funds held on your behalf, or if you fail to receive any such documentation which we may forward to you.


6.7 Nothing in this Customer Agreement shall be taken to restrict or exclude any duty or liability which we may owe you.


6.8 You agree to indemnify us against any loss, liability, cost, claim, action, demand or expense incurred or made against us in connection with the proper performance of your obligations under this Customer Agreement, except where that loss, liability, cost, claim, action, demand or expense arises from our negligence, fraud or willful default or that of our employees.


6.9 Our failure to seek redress for violations, or to insist upon strict performance, of any condition or provision of this Customer Agreement or our failure to exercise any right or remedy to which we are entitled under this Customer Agreement, shall not constitute an implied waiver thereof.


7 Client Money

7.1 All amounts handed over by the Client to the Company or which the Company holds on behalf of the Client, for the provision of Investment Services, shall be held in the name of the Client and/or in the name of the Company on behalf of the Client in an account. All Client Funds deposited for the provision of Investment Services, shall be held in a segregated account(s) (omnibus account) under the name “Client Account” together with money of other Clients. All amounts handed over by the Client to the Company or which the Company holds on behalf of the Client, for the provision of Investment Services, shall be held in the name of the Client and/or in the name of the Company on behalf of the Client in an account. This means that your funds will be segregated from our own money and cannot be used in the course of our business.


7.2 We may hold your money and the money of other Clients in the same clients’ bank account (omnibus account). In this case, we are able to identify your money through our back office and accounting system.


7.3 We may receive or pass on clients’ money to any of our affiliated companies or a third party (e.g. a bank, a market, merchant, e-wallet, intermediate broker, OTC counterparty or clearing house) to hold or control in order to affect a Transaction through or with that person or to satisfy your obligation to provide collateral (e.g. initial margin requirement) in respect of a Transaction. We have no responsibility for any acts or omissions of any third party to whom we pass money received from you. The third party to whom we pass money may hold it in an omnibus account and it may not be possible to separate it from our money, or the third party’s money. In the event of the insolvency or any other analogous proceedings in relation to that third party, we will only have an unsecured claim against the third party on behalf of you and our other Clients, and you may be exposed to the risk that the money received by us from the third party is insufficient to satisfy the claims of you and all other Clients with claims in respect of the relevant account. The Company accepts no responsibility for any funds not deposited directly into the Company’s bank accounts, for losses (directly or as a result of) due to delays and/or failures to deposit or remit funds through affiliated and/or third parties.


7.4 We shall not pay interest on Client money that is credited or deposited into the segregated Client Account(s) by the Company, and we may place your money in overnight deposits. You hereby consent that we are permitted to keep any interest accrued. We may deposit your money with a depository which may apply a security interest, lien, or right of set-off to the funds.


7.5 We may hold your Client money on your behalf outside our home jurisdiction. The legal regime applying to any such bank or person may be different. In the event of the insolvency or any other analogous proceedings in relation to that bank or person, your money may be treated differently from the treatment which would apply if the money was held with a bank in an account in our home jurisdiction. We will not be liable for the insolvency, acts or omissions of any third party referred to in this clause.


7.6 We may deposit your money with a depository who may have a security interest, lien or right of set-off in relation to that money.


7.7 Upon signing or acceptance of the Customer Agreement, you hereby authorise the Company to process any deposits and withdrawals from the “Client Funds” Bank Account on behalf of the Company including, and without prejudice to, the generality of the above, withdrawals for the settlement of all transactions undertaken under the Customer Agreement, and all amounts which are payable by or on behalf of the Client to the Company or any other person.


7.8 Unless otherwise agreed to in writing between the Company and the Client, the Company may, at its discretion, from time to time and without the Client’s authorisation, set-off any amounts held on behalf of the Client and/or to the credit of the Client against the Client’s obligation to the Company or its Broker(s). Unless otherwise agreed to in writing by the Company and the Client, this Agreement shall not give rise to rights of any credit facilities.

8 Funding and Withdrawals of the Client’s Account


8.1 You may fund your Account by credit or debit card, wire transfers or SEPA transfers, e-wallets or other similar methods of money transfer acceptable by the Company or any of its affiliated companies from time to time in its absolute discretion. We do not guarantee that all the transfer methods are available to be used in your country. Transfers to fund your account can only be initiated by you either 1) through the trading platform or 2) through the assistance of a telephone representative, subject to your express consent.


8.2 The minimum initial deposit required to start trading is described in the ‘Accounts’ section of our Website. At our discretion, we can allow you to start trading if you have transferred fewer funds than the minimum initial deposit. We reserve the right to refuse cash deposits and/or access to trading accounts due to said cash deposits.


8.3 You may request to withdraw funds deposited from your account as per the procedure described in the withdrawals section of the website, subject to delivering to us the required documents. If your withdrawal request is made to us without meeting all requirements, the Company reserves absolute discretion to withhold this withdrawal request until all legal requirements are met. The Company does not charge any fees for transferring withdrawal funds to you, but any expenses incurred by the bank, credit card company, payment processor, or e-wallet for transferring the withdrawn funds shall be passed to you; please refer to the relevant section on our website. The maximum amount that can be transferred to your initial deposit facility is equal to the initial deposit made. Profits made can only be transferred to your bank account.


8.4 The Client may withdraw funds deposited to his/her Account and/or profit gained through trading transactions from his/her Accounts only to the relevant account or card that was used to fund the Account (such account to be called “Originating Account/Card”). Transfers (withdrawals) of funds to accounts or cards other than the Originating Account/Card may be permitted at the Company’s sole discretion and provided the Company is satisfied that there is a reasonable justification for transmitting the funds to a different account. The minimum withdrawal amount is USD 25, unless otherwise stated. The minimum bank wire withdrawal amount for residents of the Kingdom of Saudi Arabia is USD 100.


8.5 The Client is fully responsible for the payment details given to the Company and the Company accepts no responsibility for the Client’s funds, if the details provided by the Client are incorrect. If a withdrawal request is made to a bank account, the Client has 10 working days from the date of the withdrawal request to provide his bank details. If ten days have passed without obtaining sufficient and appropriate information, the funds will be returned to his trading account and a new withdrawal request must be submitted.


8.6 The Company will process withdrawals of Client funds only when the identity of the Client is verified by valid “Know Your Client” and Anti-Money Laundering documentation.


8.7A We shall make any payments due to you in such a manner as we deem appropriate in the circumstances and maintain a zero-tolerance policy for any violations of these Terms and Conditions such as, but not limited to, any fraudulent credit/debit card use, credit/debit card chargebacks, or other processor chargebacks (regardless of when the transaction or chargeback occurred), in which case all accounts will be immediately and irrevocably terminated.


Any open trades associated with the account will be immediately closed and future trades will be refused as per provision 13.1.q of the Terms and Conditions.


You acknowledge that we are not required to provide you notice before closing your trades and/or account but may choose to do so.


8.7B In cases of suspected “Friendly Fraud” such as an unwarranted chargeback claim against a legitimate transaction, you acknowledge that, in addition to the rights mentioned in provision 8.7A, the Company also reserves the right to:


a) Immediately, irrevocably, and indefinitely ban you – and all third parties you have authorised to act on your behalf – from using our services. We reserve the right to implement bans on:


i. All IP addresses used to access or otherwise associated with your account;


ii. Your own and your authorised third parties’ registered postal and billing addresses transmitted during the account verification process;


iii. Your own and your authorised third parties’ names and last names, and all other identification details as they appear on the identification documents submitted during the account verification process;


iv. Any other identifying elements we may find appropriate and effective.


All bans will be final and non-negotiable and may include any of the following actions:


b) Recover the chargeback amount(s) from your account’s remaining balance;


c) Seize the total sum of profits from your account’s remaining balance;


d) Seize any given bonuses from your account’s remaining balance;


e) Notify all relevant credit issuers and credit rating institutions;


f) Pursue criminal proceedings against you for credit card fraud;


g) Initiate civil proceedings against you for redress, compensation, and recovery of any and all incurred losses and damages, including damages to reputation, directly or indirectly related to fraudulent chargebacks.


8.7C Provided that we find provision 8.7.B to be adequately satisfied, any positive balance left in your account will be refunded to the point of origin of the funds. You acknowledge that we are not required to provide you notice before proceeding with the refund, but may choose to do so.


8B Promotions and Incentives

8.8 Open trades of Clients who have not logged in for more than 1 week and/or never deposited any funds will be closed automatically each weekend and the funds will be debited from their account. The Company accepts no liability or responsibility for the financial outcome resulting from the automatic closing of such open positions.


8.9 The Company, from time to time, and at our sole discretion, may offer several types of promotions and/or incentives through which Clients can earn specified rewards upon reaching or by completing pre-defined targets. “Promotions” are schemes which the Company runs repeatedly with the same or similar mechanisms whilst “incentives” (or competitions) are specific one-off schemes (for example, but not limited to, Christmas gifts) usually open to Clients only subject to invitation and respective confirmations. Clients who have not deposited any funds cannot be entitled to any bonus, or to any withdrawal bonuses and/or any other similar incentives which may be available under any promotion or incentive offered by the Company.


8.10 Joining promotions will be subject to specific conditions, as listed below, in Section 8.12. However, the conditions applicable for the specific one-off incentives are/will be issued in the incentive announcement. When joining promotions and/or incentives, all other terms of this Agreement apply unless expressly and specifically excluded. Conditions apply for the duration of the promotion/incentive only and may be subject to change without any notice.


8.11 Any suspected breach, violation, or abuse of this Agreement and/or the specific conditions may lead, without prejudice, to any other right we may have under this Agreement or Regulations, to the immediate cancellation, withdrawal and debit of all bonuses.


8.12 Promotions and incentives are subject to availability and might not be offered to all clients. By participating in promotions and incentives you continue to accept our Terms and Conditions. We reserve the right to change promotions and/or incentives, conditions, withdraw, or annul any scheme without prior notice.


8.13 Promotions:


A. Deposit Bonus (Pending Bonus)


(a) Subject to the deposit method, bonuses receive instant or managers’ approval and will be visible in your bonus wallet only once approved.

(b) Some bonus promotions might include a time window for which new deposits are eligible to receive a bonus and shall accordingly be announced in the terms of the respective promotion. In case no specific time window is stipulated, all deposit requests must be received within the first 24 hours of the first deposit under the respective bonus promotion in order to be eligible for a bonus.

(c) The respective bonus promotion shall indicate the bonus to be granted with each approved deposit. In case no specific terms are issued, the bonus shall be 30%.

(d) The required trading volume is based on the cumulative bonus amount and updated each time a bonus is issued.

(e) Your bonus will be automatically credited to your account balance when your leveraged trading volume reaches a specified multiplier on the granted bonus within a period of 60 days. In case the respective bonus promotion does not stipulate different terms, this multiplier shall be USD 10,000. For example, if you have a bonus of USD 300, you must trade a total volume of USD 3,000,000. If you are subsequently granted another bonus of USD 200, your required trading volume will be USD 5,000,000.

(f) When the bonus is approved, it will be automatically credited to your account balance and can be withdrawn immediately.

(g) Bonus funds cannot be used for trading until they are added to your account balance.

(h) The bonus wallet cannot exceed USD 10,000 unless otherwise stipulated in the respective bonus promotion.

(i) Deposited funds (excluding the bonus) can be withdrawn at any time.

(j) The Company reserves the right to amend and/or cancel the conditions of its bonus promotions at any time and it shall be the responsibility of the Client to stay informed accordingly. By continuing to participate in bonus promotions, you agree to their Terms and Conditions.



B. Redeposit Bonus


The Redeposit bonus may be issued at different bonus levels. The below example refers to 20%; all other levels follow the same mechanism. Subject to joining the redeposit bonus promotion, the following conditions shall apply:


(a) Subject to the deposit method, bonuses receive instant or managers’ approval. Bonuses will be visible only once approved.

(b) The required trading volume is based on the cumulative bonus amount and updated each time a bonus is issued.

(c) You can withdraw your entire bonus amount and the profits generated with it when your leveraged trading volume reaches a multiplier of USD 10,000. For example, if you make a redeposit of USD 1,000, then your 20% bonus will be USD 200 and you must trade a total volume of USD 2,000,000 for it to be withdrawable. If you are subsequently granted another bonus of USD 200, your required total trading volume from the moment of receiving the first bonus will remain USD 2,000,000. Once this volume is reached, the initial amount of your bonus funds will become withdrawable. To receive the follow-up bonus, you must complete another trading volume of USD 2,000,000.

(d) Deposited funds including bonus and profits can be withdrawn once volume requirement is met.

(e) The Company’s normal Terms and Conditions apply and we reserve our right to amend and/or cancel the conditions of any bonus promotions at any time. By continuing to participate in the bonus promotions, you agree to their Terms and Conditions.



C. Rebate Bonus


Subject to joining the rebate bonus promotion, the following conditions shall apply:


(a) Our rebate bonus scheme will allow you to claim real cashback money when specified targets (for example: volume, rebate per trade, etc.) are completed before the promotion’s expiration time. Targets are applicable as per the specific rebate promotion.


(b) The rebate bonus scheme may apply to all financial instruments or to specific ones from time to time. The rebate amount available per financial instruments is indicated in each asset box on your trading terminal and will be added to your cashback wallet at the opening of a new trade.


(c) As soon as you complete the required target, you will be able to manually claim the accumulated cashback amount. You can claim the cashback by clicking the relevant button in the cashback wallet.


(d) The claimed amount will be transferred to your account and will be available for immediate withdrawal without any additional requirements.


(e) If the expiration time is reached before the targets are completed, we may inform you of three options, as applicable:


Get extra time, or

Assign a new target and carry over the accumulated cashback amount.

(f) Extra time, if offered, will only be offered once per target. If you chose to switch to a new target, you may carry over your accumulated cashback.


(g)  As long as you have a completed the target but an unclaimed cashback, no additional promotion will be issued to you. If you reach your target and wish to participate in a new promotion, you will have to first claim the cashback money from the previous promotion. Clients trading through our dealing room will have to claim the cashback on the trading platform.


(h)  You make a redeposit to an existing promotion without changing your target(s).


(i)  The rebate bonus promotion is subject to availability and might not be available for all clients. By participating in this bonus promotion, you continue to accept our Terms and Conditions. We have the right to change the present Terms and Conditions, withdraw or annul the bonus promotion at any time and without prior notice.


(j)  The rebate bonus promotion is subject to availability and might not be available for all clients. By participating in this bonus promotion you continue to accept our Terms and Conditions. We have the right to change the present Terms and Conditions, withdraw or annul the bonus promotion at any time without prior notice.


(k)  If the Client chose to participate in the Redeposit Bonus programme, he/she will be prohibited from any further participation in the Rebate Bonus programme, and any outstanding cashback earned via the Rebate Bonus will be cancelled. If a Client has been restricted from participating in the Rebate Bonus programme and wishes to cancel his/her enrolment in the Redeposit Bonus programme, he/she may do so by submitting a request at any time, subject to the Company’s approval. In cases where the Client receives approval from the Company to terminate his/her enrolment in the Redeposit Bonus programme, the Redeposit Bonus amount will be debited from his/her trading account if the required volume has not yet been completed.



D. Phone Verification


(a) Clients are eligible to participate in the Phone Verification Bonus by following the relevant promotional campaign and registering their correct telephone number before their initial deposit. Duplicate registrations by the same Client will result in the cancellation of all issued bonuses.


(b) Participating Clients will receive a one-off phone verification bonus worth USD 50, which will be credited to the trading account for immediate use.


(c)  Subject to meeting all of the below criteria, the phone verification bonus will become withdrawable:


i. Completed “Know Your Client” (KYC) documentation;


ii. Fulfilled a minimum trade volume of USD 1,000,000 (one million);


iii. Clients are eligible to receive the bonus once, and for 1 account only. Each account opened qualifies for the bonus once per registered IP address, phone number, and email;


(d)  Residents of certain countries may not be eligible to participate in the Phone Verification Bonus. The Company reserves the right to restrict Clients from participating in the Phone Verification Bonus at any time without notice.


(e) Deposited funds (excluding the bonus and Profits) can be withdrawn at any time. If your balance is below the bonus amount, then you cannot withdraw any amount until the required volume is reached.



E. Happy Hour Bonus


(a) All of our Clients are eligible to participate in the Happy Hour Bonus where the Company may, from time to time, offer beneficial trading conditions and/or rebates for executed trades on specific financial instruments.

(b) The incentive will be automatically credited to your trading account. If you think you were eligible for a happy hour bonus but it has not been credited to your account, you may contact your account manager.

(c) This bonus promotion is subject to a minimum opening trade size equivalent to USD 500,000 on all trades without a close limit.

(d) For example, if the Company is offering a 50% spread discount on all EUR/USD trades between 13:00 and 14:00 and your spread is 3 pips, then your bonus is calculated as follows:


i. Opening position: Long EURUSD, trade size USD 1,000,000

ii. Trade spread = 3 pips, Happy Hour spread as per the promotion = 1.5 pips

iii. Credit = 1,000,000 x 0.00015 = USD 150 bonus to be credited to your trading account.


(e) Happy Hour Bonuses are issued up to a cumulative amount of USD 5,000 per Client.



F. Pip Spread Bonus


(a) All of our Clients are eligible to participate in the Pip Spread Bonus where the Company may, from time to time, offer beneficial trading conditions and/or rebates for executed trades on specific financial instruments.

(b) The incentive will be automatically credited to your trading account or you will pay a reduced spread for the trade as applicable. If you think you were eligible for this bonus but it has not been credited to your account, you may contact your account manager.

(c) This bonus promotion is subject to a minimum opening trade size equivalent to USD 500,000 on all trades without a close limit.

(d) Example 1: if the Company is offering a 2 Pip Spread Bonus on all EUR/USD trades between 13:00 and 14:00 and your usual spread is 3 pips, then your bonus is calculated as follows:


i. Opening position: Long EUR/USD, trade size USD 1,000,000

ii. Trade spread = 3 pips, reduced spread as per the promotion = 2 pip

iii. Credit = 1,000,000 x 0.0001 = USD 100 bonus credited to your trading account.


(e) Example 2, if the Company is offering a 1 Pip Spread Bonus on all EUR/USD trades between 13:00 and 14:00 and your usual spread is 3 pips, then your position will automatically open with 1 pip spread.


i. Opening position: Long EUR/USD, trade size USD 1,000,000

ii. Trade spread = 3 pips, reduced spread as per the promotion = 1 pip

iii. Paid spread: $100 instead of $300.


(f) Pip Spread Bonuses are issued up to a cumulative amount of USD 5,000 per Client.



G. Refer-a-Friend Terms and Conditions


(a) This promotion is only available to existing Virgins Markets (the “Referrer”), upon manager approval, and valid only once for each unique referral (“New Account Referral”). A New Account Referral is defined as a trader who is currently NOT a Virgins Markets customer. Traders who have accounts, or have had accounts with Virgins Markets at any time during the past 12 months, will not count as New Account Referrals.


(b) Referrer will register New Account Holders’ personal contact details with Virgins Markets, subject to their explicit consent, in order to mark a New Account Holder as a referred client.


(c) The Referrer will be awarded with the following amounts:


i. USD 100 if the New Account Referral makes an initial deposit between USD 500 to USD 1,000

ii. 10% bonus from the New Account Referral’s deposit if the initial deposit is between USD 1,000 to USD 10,000. This is valid on the New Account Referral’s first deposit only.


The bonus will be credited directly to the Referrer’s account and will be subject to USD 1 million of trading volume for each USD 100 bonus to become withdrawable. Immediately withdrawable deposits do not qualify for this bonus.


(d) Virgins Markets reserves the right to terminate all transactions related to this offer at any time without giving prior notice. Any hedging trades in a single account or across multiple accounts will be cancelled as per the standard Terms and Conditions.


(e) This offer can only be combined with the Cashback Bonus, whereby Cashback requirements will be accounted for, before Refer-a-Friend requirements.


(f) The Referrer confirms that New Account Holders have agreed to disclose personal contact information such as, but not limited to name, email address, and/or telephone numbers to Virgins Markets for the purpose of being contacted for trading in Financial Instruments.


(g) New Account Holders’ contact details will be added to Virgins Markets database for the purpose of sending marketing materials and general financial information. The New Account Holder can be removed from the marketing email list as per his/her own request by using the “unsubscribe” buttons in the emails.


(h) Virgins Markets general Terms and Conditions apply.



H. Practice Mode Bonus (“PMB”)


(a) Eligible Clients can earn up to USD 60 by completing certain trades in Practice Mode:


i. USD 10 when a position is opened


ii. USD 20 when a position is closed


iii. USD 30 when a profitable position is closed


(b) No deposits or registrations are necessary to participate. Clients are provided with virtual funds to practice trading.


(c) The PMB is converted into real funds when the Client registers and creates a real account.


(d) The converted PMB must be used to trade within a period of 7 days after creating the real account. Failure to do so will lead to the PMB automatically being debited from the trading account


(e) Subject to meeting all of the below criteria, the PMB will become withdrawable:


i. Completed “Know Your Client” (KYC) documentation


ii. Minimum deposit of USD 25


iii. Minimum account balance of USD 100


iv. Opened a minimum of 1 trade


v. Fulfilled a minimum trade volume of USD 1,000,000 (one million)


(f) Clients are eligible to receive the bonus once, and for 1 account only. Each account opened qualifies for the bonus once per registered IP address, phone number, and email.


(g) Clients who have never deposited funds and who have not logged in for more than 1 week will have their positions closed and bonus money debited


(h) The PMB cannot be used in conjunction with any other offers


(i) Refer-a-Friend Bonus


i. This promotion is only available to existing Virgins Markets Traders (the “Referrer”), upon manager approval, and valid only once for each unique referral (“New Account Referral”). A New Account Referral is defined as a trader who is currently NOT a Virgins Markets customer. Traders who have accounts, or have had accounts with Virgins Markets at any time during the past 12 months, will not count as New Account Referrals.


ii. Referrer will register New Account Holders’ personal contact details with Virgins Markets, subject to their explicit consent, in order to mark a New Account Holder as a referred client.


iii. The Referrer will be awarded with USD 100 if the following conditions are met.


1. New Account Holder registers using the referral link


2. New Account Holder makes a first deposit of $250 or more.


3. New Account Holder reaches a Trading Volume of USD 500,000


4. New Account Holder provides the necessary KYC as requested and is accepted as a Client.


iv. Virgins Markets reserves the right to terminate all transactions related to this offer at any time without giving prior notice. Any hedging trades in a single account or across multiple accounts will be cancelled as per the standard Terms and Conditions.


v. This offer can only be combined with the Cashback Bonus, whereby Cashback requirements will be accounted for, before Refer-a-Friend requirements.


vi. The New Account Holders shall confirm to Virgins Markets to have agreed to disclose personal contact information such as, but not limited to name, email address, and/or telephone numbers to Virgins Markets for the purpose of being contacted for trading in Financial Instruments.


vii. New Account Holders’ contact details will be added to Virgins Markets database for the purpose of sending marketing materials and general financial information. The New Account Holder can be removed from the marketing email list as per his/her own request by using the “unsubscribe” buttons in the emails.


viii. Virgins Markets general Terms and Conditions apply.

9 Margins and Collateral Payment

9.1 During the lifetime of any Financial Instrument, we, in our absolute discretion, reserve the right to review and adjust the percentage of funding required or the rates at which interest is calculated on such Financial Instrument, with or without notice to you, especially in, but not limited to, volatile market conditions. Positions that are open overnight may be adjusted to reflect the cost of carrying the position over. Details of such adjustments are available on our Website.


9.2 Where we affect or arrange a Transaction involving a CFD you should note that, depending upon the nature of the Transaction, you may be liable to make further payments when the Transaction fails to be completed or upon the earlier of the transaction settlement or closing out of your position. You will be required to make further variable payments by way of margin against the purchase price of the Financial Instrument, instead of paying (or receiving) the whole purchase (or sale) price immediately. The movement in the market price of your investment will affect the amount of margin payment you will be required to make. We will monitor your margin requirements on a daily basis and we will inform you as soon as it is reasonably practicable of the amount of any margin payment required under this clause.


9.3 You agree to pay us on demand such sums by way of margin as are required from time to time or as we may in our discretion reasonably require for the purpose of protecting ourselves against loss or risk of loss on present, future or contemplated transactions under this Customer Agreement.


9.4 Unless otherwise agreed, margin must be paid in cash. Cash margin is paid to us as an outright transfer of funds and you will not retain any interest in it. Cash margin received by us will be recorded by us as a cash repayment obligation owed by us to you.


9.5 In addition and without prejudice to any rights to which we may be entitled under this Customer Agreement, we shall have a general lien on all funds held by us or our Nominees on your behalf until your obligations are met.


9.6 We shall have the right, in addition to any other rights we may have under this Customer Agreement, or under the law in general, to close, cancel and or limit the size of your open positions (new or gross) and to refuse to establish new positions. Situations where we may exercise such right include, but are not limited to, where:


a) We consider that there are abnormal trading conditions,


b) We consider there to have been abusive trading strategies transmitted to us, or


c) Your account has reached Stop Out level.


9.7 At margin levels of less than 25% of your equity, we have a discretionary right to begin closing positions immediately and without notice. Individual Stop Out levels are set at 25% and we reserve the right to close all or any of your Open Positions below Stop Out level immediately and without notice solely in our discretion. The provisions of this paragraph are applicable to all Clients.


9.8 For deals entered using the MT4 online trading platform, we have a discretionary right to issue margin calls when the margin level is below 50%. Deals will be closed automatically and without any further notice when the margin level falls below 20%.


9.9 It is in the Company’s discretion to close any open deals after an inactivity period of 90 days of such deals. Hedging positions may incur an administration fee of 0.1% of the complete volume (deal plus hedge position) in US-Dollars per day and we retain the right to close any hedged positions after 21 days without any further notice.


9.10 We shall be entitled to retain monies which are required to cover adverse positions, initial margin, variation margin, any uncleared funds, realized losses and any and all other amounts payable to us under this Customer Agreement.


9.11 Whenever we conduct currency conversions, we will do so at such reasonable rate of exchange as we shall select.


10 Online Trading System and Website Access

10.1 When your account is enabled for trading, you are entitled to use your Login Details within our Online Trading System in order to be able to transmit orders for the purchase or sale of Financial Instruments through us through your compatible personal computer connected to the internet on our Online Trading System.


10.2 You will not proceed and avoid proceeding in any action that could likely allow the irregular or unauthorised access or use of our Online Trading System. You accept and understand that we reserve the right, at our discretion, to terminate or limit your access to our Online Trading System or part of if we suspect that you allow such use of our Online Trading System.


10.3 When using our Website and/or Online Trading System you will not, whether by act or omission, do anything that will or may violate the integrity of our computer system or cause such system to malfunction. You are solely responsible for providing and maintaining the equipment necessary to access and use our Website and/or Online Trading System.


10.4 You acknowledge that the internet may be subject to events which may affect your access to our Website and/or Online Trading System including, but not limited to, interruptions or transmission blackouts. We are not responsible for any damages or losses resulting from such events which are beyond our control or for any other losses, costs, liabilities, or expenses (including, but not limited to, loss of profit) which may result from your inability to access our Website and/or Online Trading System or delay or failure in sending Orders.


10.5 We are not an Internet Service Provider and cannot be responsible for not fulfilling any obligations under this Customer Agreement because of internet connection failures or public electricity network failures or hacker attacks.


10.6 We shall not be held responsible in the case of delays or other errors caused during the transmission of orders and/or messages via computer. We shall not be held responsible for information received via computer or for any loss which you may incur in case this information is inaccurate.


10.7 You are permitted to store, display, analyse, modify, reformat and/or print the information made available to you through the Website and/or Online Trading System. You are not permitted to publish, transmit, or otherwise reproduce that information, in whole or in part, in any format to any third party without our express written consent. You must not alter, obscure or remove any copyright, trademark or any other notices that are provided in connection with the information. You represent and warrant that you will not use the Website and/or Online Trading System in contradiction to this Customer Agreement, that you will use the Website and/or Online Trading System only for the benefit of your Account and not on behalf of any other person, and that, with the exception of a web browser and other applications specifically approved by us, you will not use (or allow another person to use) any software, programme, application or other device, directly or indirectly, to access or obtain information through the Website and/or Online Trading System or automate the process of accessing or obtaining such information.


10.8 Our operation time for trading begins at 17:05 Sunday and concludes at 16:59 Friday New York time (EST) which is equivalent to 00:05 to 23:59 server time, Monday to Friday, except the 25th of December, the 31st of December, and the 1st of January. During Daylight Savings Time our operation and server time is adjusted according to New York time (EST). Be informed that we reserve the right to change our trading hours at any time without prior notice.


10.9 You agree to keep secret and not to disclose any Login Details to any person other than an individual who has been expressly authorised to act on your behalf according to Section 16.


10.10 You should not write down your Login Details. If you receive a written notification of your Login Details, you must destroy the notification immediately.


10.11 You agree to notify us immediately if you know or suspect that your Login Details have or may have been disclosed to any unauthorised person. We will then take steps to prevent any further use of such Login Details and will issue you with replacement Login Details. You will be unable to place any Orders until you receive the replacement information.


10.12 You agree that you will cooperate with any investigation we may conduct into any misuse or suspected misuse of your Login Details.


10.13 You accept that you will be held liable for all orders given through and under your Login Details and any such orders received by us will be considered as received by you. In cases where a third person is assigned as an authorised representative to act on your behalf, you will be responsible for all orders given through and under your representative’s Login Details.


10.14 You acknowledge that we bear no responsibility if unauthorised third persons have access to information, including electronic addresses, electronic communication and personal data, when the above are transmitted between us or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.


10.15 We may offer third party authentication services such as Twitter and/or Facebook for registration. While subscribing or registering for our service, you must provide accurate information and should not in any case try to deceive us, impersonate other persons and/or entities. Using third party authentication remains your sole responsibility and we cannot guarantee the data protection enforcement of such third parties. We may or may not choose to verify any or all of the information provided by you during registration or later for security purposes.

11 CFDs: Trading Procedures & Orders

11.1 You or those persons you have notified to us in writing as authorised to give instructions and Orders on your Account may place Orders either via our Online Trading System or via phone, in the way specified in Section 11.2.


11.2 You can place new Orders via our Online Trading System by using your Login Details. You can give instructions to liquidate your existing positions or to delete/modify pending orders via phone by using your name, username or user ID. Orders are accepted at our sole discretion and we reserve the right to refuse accepting any Order. For accepted Orders, we will use commercially reasonable efforts when transmitting all Orders for execution to the venues indicated under Section 12.


11.3 In case of an Order received by us in any means other than through the online Trading System, the order will be transmitted by us to the Online Trading System (if possible) and processed as if it was received through the Online Trading System.


11.4 We will be entitled to rely and act on any Order without any further enquiry, and we will consider any Orders to be binding upon you where such Order has been placed using your Login Details in accordance with Section 11.2.


11.5 We shall receive and transmit all Orders given by you strictly in accordance with their terms. We will have no responsibility for checking the accuracy of any Order. Any Order that you give to us constitutes an irrevocable instruction to us to proceed with the Transaction on your behalf.


11.6 Any Order shall be conclusively deemed to be a valid Order from you to us if we believe it to be genuine. You are responsible for any loss, claim or expense incurred by us for following or attempting to follow any of your Orders.


11.7 We will not be obliged to check or have regard to any assumption made or expressed by you as to the effect of any trade on your existing or overall positions with us. We need have no regard to your comments that any trade you place is a trade to close all or part of an open position. We will treat all trades as a buy or a sell regardless of whether the trade has the effect of opening a new position or closing an existing one. It is your responsibility to be aware of your positions at all times, including expiry dates.


11.8 If you give us an Order which puts you in breach of any of this Customer Agreement, we may in our absolute discretion fill such an Order to the extent we deem appropriate and you will not have any right to cancel any resultant partially filled Order. You will be held liable for the breach of this Customer Agreement and remain liable for the settlement of the resultant Transaction in accordance with the terms of this Customer Agreement.


11.9 You may give only the following orders of trading character using our Online Trading Systems:


a) OPEN – to open a position as market or limit order,


b) CLOSE – to close an open position as market or limit order, or


c) To add, remove, edit orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop;


11.10 Any other Orders not mentioned in Section 11.9 are unavailable and are automatically rejected. Limit orders are often filled at the requested price. If the price requested is not available in the market, the order will be filled as a market order. If the requested price of a Stop Loss or Take Profit is reached at the open of the trading session, the order will become a market order.


11.11 All open spot positions will be rolled over to the next business day at the close of business in the underlying relevant Market, subject to our rights to close the open spot position.


11.12 Subject to this Customer Agreement and as amended from time to time, we may allow our Clients, at our sole discretion, to specify a closing price for “Stop Loss” or “Take Profit” orders. Upon our acceptance of such order, you hereby authorise us to close the respective order subject to the terms specified in the order without any further notice from us to you. Any confirmed positions cannot be cancelled or changed.


11.13 You have no right to change or remove Stop Loss, Take Profit, and Limit Orders if the price has reached the relevant level.


11.14 Orders can be transmitted for execution, changed or removed only within the operating (trading) time and if they are not executed, they shall remain effective through the next trading session.


11.15 Your Order shall be valid in accordance with the type and time of the given Order, as specified. Each deal will expire after 90 days at 23:59 or on the contract expiration day, whichever occurs first. Click here to see the contract’s expiration date.


11.16 Orders: Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop are transmitted for execution at the price declared by the Client on the first market price touch. The Company reserves the right not to transmit the Order; or to change the opening (closing) price of the transaction in case of the technical failure of the trading platform, as well as in case of other technical failures.


11.17 Under certain trading conditions it may be impossible to transmit Orders (Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop) at the declared price. In this case the Company has the right to transmit the Order for execution or change the opening (closing) price of the transaction at a first market price. This may occur, for example, at times of rapid price movement, if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted or during the starting moments of the trading session. In the case of such an event, the Order will be executed at the next best price. As a result, placing such Order will not necessarily limit your losses/take your profits to the fully intended amounts because market conditions may make it impossible to execute such an Order at the stipulated price. It should be noted that the price at which a trade is executed at may vary significantly from the original requested price during abnormal market conditions. ‘Slippage’ is a normal market practice and a regular feature of the foreign exchange market under certain conditions such as, but not limited to, illiquidity and volatility due to news announcements, economic events and market openings. Therefore, trading according to news cannot be guaranteed. Please refer to our Risk Disclosure Policy and website for further details about Slippage.


11.18 We may establish cut-off times for instructions or Orders which may be earlier than the times established by the particular market and/or clearing house involved in any Transaction. You shall have no claims against us arising out of the fact that an Order was not placed by you before of our cut-off time.


11.19 We reserve the right to change the contract specifications, including leverage, deal size and spreads, at any time depending on the market situation. You agree to check the full specifications of the CFD instrument before placing any order. We reserve the right to allow a change to your Trading Account leverage or spreads at our discretion. We reserve the right to use floating spreads on any asset at our discretion for MT4 accounts.


11.20 The level of Swap Rates varies in size and change depending on the level of interest rates. We reserve the right to change the level of Swap Rates and credit your account accordingly. From Friday to Monday, swaps are calculated once. From Wednesday to Thursday swaps are calculated in triple size.


11.21 Our spreads are based on market rates received from the execution broker(s) and/or liquidity providers and are pre-determined according your account status. Spreads may be changed at our discretion without your prior consent. We reserve the right to use floating spreads on any asset at our discretion for MT4 accounts.


11.22 The Client accepts that the transmitted orders shall be solely executed by the Company’s execution broker(s) and/or liquidity providers which may change from time to time and may be based in jurisdictions not covered under regulations. For any orders placed with the Company, the Company shall act as an agent and not as a principal on the Client’s behalf (Reception and Transmission on Orders).


11.23 You acknowledge that we derive our revenue as a fixed share of the spread, regardless of whether you win or lose deals. Therefore, in case the fair market price reduces our commission in a specific transaction, it may occur that the transaction will not be executed by our liquidity providers. In the event of such, a new price quote will be sent to you for consideration.


11.24 For MT4 users, we operate under a First-In-First-Out no hedge basis structure, meaning opened deals involving the same Underlying Asset must be closed out before another deal with the same Underlying Asset is opened in the opposite direction. Hedged positions shall be closed or cancelled at the discretion of the Company, without prior notification to the Client.

12 Refusal to Transmit Orders

12.1 Without prejudice to any other provisions herein, you agree and understand that we have the right, at any time, without giving any notice and/or explanation, to refuse, at our discretion, to transmit any Order for execution, and that you have no right to claim any damages, specific performance or compensation whatsoever from us, in any of the following cases but not limited to:


a) Whenever we deem that the transmission of the Order for execution affects or may affect in any manner the reliability or smooth operation of the Online Trading System;


b) Whenever there are no available cleared funds deposited in your Account to pay all the charges and required margin relating to the said Order;


c) There is absence of essential detail of the Order;


d) It is impossible to proceed with an Order regarding the size or price;


e) Your Order has more than one interpretation or is unclear;


f) It is impossible for the Order to be executed due to condition of the market, customs, or a trading volume;


g) We received from you the notice on cancellation of the contract;


h) Forwarding of the notice on termination of the Customer Agreement by us to you;


i) If any doubt arises as to the genuineness of the Order;


j) Where we suspect that you are engaged in money laundering activities or terrorist financing;


k) In consequence of lawful claims or requirements of corresponding organized trading platforms, affiliates as well as in consequence of lawful claims of third parties;


l) Where the legality of the Order is under doubt;


m) In consequence of request of a court order;


n) In the circumstances mentioned in Section 9 and Section 21;


o) Where the Order is placed in a manner and form not compliant with our normal operations of business, or


p) When the underlying market is closed and the Company does not receive liquidity from its execution venues;


q) If your account is under investigation or has been terminated according to provision 8.7;


r) If your account is, or we suspect it to be, in breach of the Terms and Conditions.

13 Confirmations and Client Reporting

13.1 We reserve the right, at our discretion, to confirm in any manner the instruction and/or Orders and/or communications sent through the Online Trading System. You accept the risk of misinterpretation and/or mistakes in the instructions and/or Orders sent by you, regardless of how they have been caused, including technical and/or mechanical damage.


13.2 Information on Order(s) status, Accounts status, Trade Confirmations and messaging facility between us and you may be available via, but not limited to, our Online Trading System.


13.3 Any notice or other communication to be provided by us under the Customer Agreement, including a trade recap, Account Statements and Trade Confirmations, will be sent to you either in electronic form by e-mail to the CFDs Customer Agreement email address which we will have on record on you or provided via our Online Trading System. You are obliged to provide us with e-mail and mailing addresses for this purpose. We are not responsible for any delay, alteration, re-direction or any other modification the message may undergo after transmission from us.


13.4 It is your responsibility to inform us of any change to your email address (or any other relevant personal information), the non-receipt of a Confirmation, or whether any Confirmations are incorrect before settlement.


13.5 We will send to you, in the method specified above in Section 13.3, a Trade Confirmation in respect of each executed Order. Such documents shall, in the absence of manifest error, be deemed conclusive unless you notify us in writing to the contrary within 48 hours of receipt of the said Trade Confirmation. In the event that you believe that we have entered into a Contract on your behalf, which should have produced a Trade Confirmation, but you have not received such Confirmation, you must inform us immediately but no later than 48 hours when you ought to have received such Confirmation. In the absence of such information the Contract may at our absolute discretion be deemed non-existent.


13.6 A statement of Account is available to you through the personal access login of the Trading Platform. Any confirmation or proof for any act or statement of account or certification issued by us in relation to any transaction or other matter shall be final and binding on you, unless you have any objection in relation to such statement of account or certification and the said objection is filed in writing and received by us within five (5) business days from the issuance of any statement of account or certification.


13.7 We may provide you with reports for the requested date of your account balance. Such Reports can be provided within 5 (Five) business days from the date of receipt of the request and will be subject to a standard minimum fee.


13.8 We will provide you with online access to your Account via our Trading System by using your Login Details. This will give you access to information in order to manage your account and reporting. Therefore, we may not provide you with periodic and/or annual statements as this information can be access through your online access.


13.9 Clients need to pay 10% tax of the total amount upfront.

DEFINITIONS AND INTERPRETATIONS

Access Codes: Your login and password given to you by us in order to have access on our Online Trading System or Website (where applicable).


Access Data: Your Access Codes, your Account number and any information required to place Orders with us in any way.


Account: Any transaction account which is opened for you on our records to allow you trade in Financial Instruments as defined below.


Applicable Regulations: (a) The rules of the relevant market; and (b) all other applicable laws, rules and regulations which are in force in any jurisdiction.


Application Form: The application form completed by you to apply for our Services (through which we will obtain any necessary information for your identification, due diligence and your categorisation in accordance with the laws).


Autochartist Limited: The Company shall act as an agent when enabling the Client to enter into business terms with Autochartist Limited.


Balance: The total sum of your Account after the last transaction made within any period of time.


Base currency: The first currency in the currency pair.


Bonus Terms: The conditions as advertised in marketing campaigns that must be fulfilled in order to receive the bonus incentive and in accordance with Section 8 of this Customer Agreement to qualify for a payout of such incentive.


Business Day: Any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January.


CFD: A spot and/or forward Contract for Difference on the following underlying assets: Currencies (Spot FOREX), Metals, Commodities, Futures, Options, Forwards, Stocks, Indices.


Customer Agreement: This Agreement between the Company and the Client which also includes the following documents on our Website: (a) Costs and Fees, (b) Contract Specifications, (c) General Risk Disclosure.


Client Money Rules: The rules relating to Client money as defined by our Regulator.


Contract Specifications: Each lot size or each type of Underlying Asset in a Financial Instrument, as well as all necessary trading information concerning spreads, swaps, margin requirements etc., as determined by the Company on our Website.


Currency of the Account: The currency that you choose when opening an Account with us or that you request to convert into after the Account is opened.


Currency Pair: Consists of 2 currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase 1 unit of the Base Currency.


Financial Instrument(s): CFDs, NDFs and Rolling Spot.


Floating Spread: A floating spread is a constantly changing value between the ask and bid prices. Floating spreads vary throughout the day, depending on market volatility and available liquidity.


Liquidity Providers: The Company shall act as agent of the Client (principal) when receiving and transmitting Orders. The Company will transmit your Orders for execution to another broker(s), and such broker(s) may transmit the orders received by us to other liquidity providers. These broker(s) may not necessarily operate in a regulated market.


Leverage: A ratio in respect of a Transaction size and initial margin. A 200:1 ratio means that in order to open a position, the initial margin is 200 times less than the transaction size.


Login Details: Your login and password given to you by us in order to access our Online Trading System or website (where applicable).


Margin: The necessary guaranteed funds to open positions or to maintain open positions, as determined in the Contract Specifications for each underlying asset in a financial instrument.


NDFs: Non-Deliverable Forwards. This has the same meaning as CFDs.


Nominee: Any company that we may appoint our Nominee as a member of our group whose principal function is to hold funds acquired by our Clients.


Online Trading System: Any software used by us which includes the aggregate of our computer devices, software, databases, telecommunication hardware, a trading platform, making it possible for you to obtain information of markets in real-time, make technical analysis on the markets, enter into transactions, place, modify, or delete orders, receive notices from us and keep records of transactions.


Open Position: A deal of purchase or sale not yet covered by the opposite sale/ purchase of the contract.


Order: An instruction by you to us in Financial Instruments, which are available for transaction on our Trading Platform.


Overnight Commissions: The fee added or deducted for holding a position open overnight.


Parties: The parties to this Customer Agreement – the Client (you) and the Company (us).


Pending order: Order to buy or sell a financial instrument at a price different from the market price.


Quote: The information of the currency price for a specific Underlying Asset of a Financial Instrument, in the form of bid and ask prices.


Quote Currency: The second currency in the currency pair.


Rolling Spot: Has the same meaning as CFDs.


Rules: Laws, articles, regulations, directives, procedures and customs which are in force.


Scalping: The opening and closing of a position within seconds. We have a 1-minute minimum time interval between opening and closing trades.


Services: The services provided by us under this Customer Agreement as specified in Section 3.


Slippage: This term refers to the difference between the expected price and the price at which the trade is actually executed.


Spread: The difference between the ask and the bid prices of an underlying asset in a financial instrument at that same moment.


Stop Loss: An offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is lower than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is higher than the opening transaction price.


Stop Out: Situation when we execute the right to close all your open positions at current market price or the last available price and your equity divided by balance falls below the stop out level specified for your account type.


Swap Rates: The rate of the fixed portion of a swap, at which the swap will occur for one of the parties entering into a financial instrument.


Take Profit: An offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is higher than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is lower than the opening transaction price.


Trade Confirmation: A message sent to you by us confirming the execution of your order.


Trading Signals: The Company shall act as an agent when enabling the Client to enter into business terms with iSignals GmbH.


Transaction: Any dealing in a financial instrument.


Underlying Asset: Forward and/or futures contracts on Currencies (Spot FOREX), Metal, Commodities, Futures, Options, Forwards, Stocks, Indices.


We (our, us): The Company. Virgins Markets is a globally-operated brand and includes any of our affiliated companies.


Website: www.virginsmarkets.com or any other Website of the Company’s trade names, which we may notify you about.


You: The Client(s) who is (are) the holder(s) of the Account.


Your Information: Any information that we receive from you or otherwise obtain which relates to you, your Account or our provision or your use of the Services.