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10.8 The Client understands and accepts that FxPro reserves the right to revoke at any time, without
prior written notice, any Power of Attorney that governs the relationship of the Client with hisher Authorised Representative.
10.9 The Client understands that if the Client is more than one natural or legal persons, the Client’s
obligations and liability under the Agreement shall be joint and several; under the above mentioned circumstances any communication, including but not limited to a notice and order,
shall be construed as delivered to all natural or legal persons that together form the Client.
10.10 The Client understands and accepts that FxPro is not engaging in any actions, which may be
deemed to constitute a solicitation of financial services.
10.11 The Client understands and accepts that FxPro reserves the right to reverse any transactions
that FxPro deems to be contrary to the Firm’s or any of its Clients’ interests, for any reason.
10.12 You understand and accept that in the event you are in breach or the Firm has reasonable
grounds to believe that you will be in breach of any term contained in the Agreement, we have the right to temporarily andor permanently suspend your access to the platforms
andor FxPro Direct andor Accounts andor terminate the Agreement in its entirety andor place any internal restrictions andor take any other action as we may deem fit in the
circumstances.
11. CONFLICTS OF INTEREST
11.1 The Client accepts that a conflict of interest may arise when the interests of FxPro compete or
interfere, or appear to compete or interfere, with the Client’s interests under the Agreement.
11.2 The Client accepts that FxPro acts as a principal and a market maker when executing Client
trades and the Firm may profit from any Client losses.
11.3 For further details, please read the ‘Conflicts of Interest Policy’ available on
our Website.
12. CLIENT MONEY
12.1 Unless otherwise indicated, FxPro will deposit any Client Money in one or more segregated
accounts held with an institution within or outside the European Economic Area ‘EEA’, separated from the Firm’s money; this means that Client Money is treated as belonging to the
Client and under no circumstances the Firm will use Client Money, at any time, to meet any of its obligations. The Client Money will be pooled with money belonging to other Clients the
‘Omnibus Account’; therefore, an individual Client will not have a claim against a specific sum
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in a specific account, in the event of insolvency. A Client’s claim may be against the Client Money in the Omnibus Account.
12.2 In general, accounts held with institutions, including omnibus accounts, face various risks,
including the potential risk of being treated as one 1 account in case the institution defaults. Under such circumstances, the enforcement of the national deposit guarantee scheme may be
applied without consideration of the ultimate beneficial owners of the Omnibus Account.
12.3 Another risk might be that the funds in the Omnibus Account may be exposed to obligations
of FxPro connected with the positions of other Clients in case FxPro is unable to meet its obligations towards them. In the event that the solvency of the institution that FxPro utilises
to keep Client Money is partially or fully compromised, any loss shall be borne by you not us. In the event that any such institution defaults, the Client shall have no redress against the Firm.
Where FxPro is or becomes unable to meet its obligations the Client may be entitled to compensation from the CySEC under the ‘Investor Compensation Fund’. You may refer to the
‘Investor Compensation Fund Notice’ available on our Website for more information.
12.4 FxPro will exercise reasonable skill, care and diligence in the selection, appointment and
periodic review of the institution where the Client Money is deposited, in accordance with its legal obligations. FxPro takes into account the credit rating of the institution prior to depositing
Client Money with the said institution; FxPro takes reasonable steps to periodically monitor the credit risk of that institution. FxPro may use multiple institutions to ensure diversification
and allocate internal percentage limits for each institution. It should be noted, that segregated accounts will be established, maintained and operated according to the applicable rules and
regulations. FxPro will give instructions to the institution regarding the transfer and movement of the Client Money. If the Client has an open position the Firm reserves the right, at any time
and at the Firm’s sole discretion, to set-off any unrealised losses incurred in respect of an open p
osition against any of the Client Money that is held by the Firm to the Client’s credit, in any account. In effect, this means that the Firm based on the conditions referred to above, may
transfer any part of any unrealised losses from an investment-grade institution to an account of FxPro. At the same time, FxPro may transfer any unrealised profit as a result of an open
p
osition from a Firm account to a Client Money account held in an institution. 12.5
Client Money held outside the EEA may be subject to the jurisdiction of that territory and Client rights may differ accordingly. FxPro shall not be responsible for the solvency, acts or
omissions of any institution with which Client Money is held.
12.6 FxPro is not obliged to pay interest to the Client for the funds deposited, you therefore waive
any entitlement to any such interest.
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12.7 The Client agrees that when opening a position, the Firm has the right to transfer ownership
of the Client’s margin from the Client to the Firm, to be kept by the latter as security, and be returned by the Firm to the Client on completion of the Client trades. If this occurs, the margin
will be considered as debt due by the Firm to the Client and not as Client Money, therefore it could be used by the Firm subject to the repayment obligation. Irrespective of the above, the
Balance, Equity and free Margin of the Client Accounts remain unaffected and the Client may normally continue hisher trading andor other activity.
12.8 FxPro carries out reconciliations at the close of business on each day; any required transfer to
or from the client money bank account will take place the next business, unless this is not possible for any reason.
12.9 FxPro may, from time to time, without the Client’s permission, merge the funds held in
different trading andor any other Accounts under the same or different profile.
12.10 Subject to any applicable restrictions regarding the operation of the Vault, the Client has the
right to withdraw to their Vault any part of the funds equal to the free Margin that is available in the relevant Accounts provided that there are funds available and subject to any other
right or limitation on such withdrawal. The Client understands and accepts that the Firm reserves the right to reject a withdrawal request in instances where the Firm deems that the
Client has placed such an instruction in order to abuse the Firms NBP policy. Further information regarding the timeframes during which the Client may withdraw, please refer to
the ‘FxPro Vault’ document available on our Website.
12.11 Any transfer shall only be given effect when our systems have debited andor credited the
funds to the relevant Account and we cannot guarantee how long this would take. We will use reasonable efforts to ensure such transfers; however, we shall not be liable for any delays or
other losses that may occur if, for instance, wrong or incomplete information has been provided.
12.12 The Client accepts that any funds shall be deposited in hisher Vault on the Value Date, net of
any transfer fees or other charges incurred by FxPro or yourself that are imposed by the institution or intermediary involved in the process that holds the funds or otherwise occur.
FxPro may but shall not be obliged to at its discretion to deposit funds in the Client’s Vault that are still in transit before the Value Date. FxPro shall not be held liable for any delay, where
the cause of such delay is not within the control of FxPro.
12.13 The Client accepts that the funds shall be deposited in his her Vault only if the Firm is satisfied
that, amongst others, the sender of the funds is the Client or his her Authorised Representative and or the funds do not breach any term contained in the Agreement andor
the law.
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12.14 FxPro reserves the right to request additional information andor documentation via any
means to satisfy itself that the Client dealings with the Firm including but not limited to their deposits withdrawals are legitimate andor for any other reason. The Client accepts that
under such circumstances there may be a delay andor refusal in processing the request.
12.15 Where FxPro is not satisfied as to the above, then the Firm has the right to reject the funds
and return them to the remitter net of any transfer fees or other charges incurred by FxPro, using the same transfer method as the one through which it originally received the funds;
FxPro will only deviate from this policy if FxPro deems, in its sole discretion, that this is required.
12.16 The Client accepts that withdrawal of any part of the funds shall be concluded using the same
transfer method and the same remitter as the one which the Firm originally received the funds from unless FxPro is unable to do so for whatever reason; under such circumstances, FxPro
shall return the part of the funds requested net of any transfer fees, charges or other deductions, incurred by FxPro.
12.17 FxPro reserves the right to decline any funding andor withdrawal request that the Client
requested using a specific transfer method and has the right to suggest an alternative. Further, FxPro reserves the right to decline a funding andor withdrawal request, where FxPro believes,
that by permitting such a request, the latter would be in breach of the law andor its duties. You understand that there are instances where FxPro may be forbidden from providing you
with an exact explanation as to why they cannot proceed accordingly.
12.18 If, at any time, FxPro is not satisfied with the documentation provided by the Client in relation
to the deposit withdrawal, the Firm reserves the right to reverse to the remitter any part of the funds net of any transfer fees or other charges incurred by FxPro, using the same transfer
method as the one through which it originally received the funds.
12.19 The Client accepts that an institution may reverse any part of the funds, for any reason; as a
result, the Firm shall immediately reverse the respective amount from the Accounts net of any transfer fees or other charges incurred by FxPro, using the same transfer method, where
possible, as the one through which it originally received the funds. The Client accepts that this may result to a negative balance in the Account; under such circumstances, the Firm may
merge the funds held in different Accounts as described in the Agreement.
12.20 The Client accepts that any requests that relate to the administration of the Accounts shall
be made through FxPro Direct.
12.21 FxPro shall take reasonable steps to ensure that the Client is informed regarding the progress
of any requests referred to in the ‘Client Money’ section, specifically in relation to the expected
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processing time and the need for any, or any further, documentation that if not in place may delay the processing.
12.22 The Client can be informed about the processing times of deposits withdrawals through our
Website. It should be noted that this information is provided for indicative purposes only, you understand that there are instances where we cannot guarantee these time frames if events
out of our control occur.
12.23 In the event that the Client, for any reason, receives any money in error or erroneously and or
mistakenly andor otherwise, then the Client agrees to hold such amount of money on trust for the benefit of FxPro or the legal owner. In the event that the Client uses in any way this
amount of money, it shall return it together with any profit to the legal owner. In the event that you incur any losses pursuant to using such amounts of money, we shall not be liable to
compensate you.
12.24 We have the right to deduct any amount from any of your Accounts if we are required to do
so by applicable law or pursuant to any clause of the Agreement.
12.25 The Firm shall have the right to set off any liability of the Client, whether liability is present or
future, liquidated or unliquidated, and whether or not liability arises under the Agreement or any other agreement entered into between the parties and between any of the Accounts of
the Client. If the liabilities to be set off are expressed in different currencies, the Firm may convert the liability at a market rate of exchange for the purpose of set off. Any exercise of this
right by the Firm shall not limit or affect any other rights or remedies available to it under the Agreement or otherwise.
12.26 In instances where there is any amount due, FxPro may net off any such amount by deducting
that amount from any of the Client Accounts; under such circumstances, the obligations will be considered satisfied and discharge. If the obligations are not satisfied, FxPro reserves its
rights.
13. CHARGES
