The following terms and conditions form an integral part of your agreement with Merakifx Ltd and should be read carefully, and Merakifx Ltd accepts no responsibility for customers who do not comply with these terms. For more information, please contact us.
Merakifx strives to ensure that the price screen is accurate and that it has been obtained from major banks/liquidity providers; In the event of closing/failure of one or more price providers for one or all CFDs, offers will be made which will reflect what the Company believes to be the current bid and ask price for each CFD; We do not guarantee that our prices will be the best available in the market.
The client hereby agrees that the price screen is merely an indication of the current market, and any misunderstanding about this service shall be returned to the Merakifx operations data.
In addition, all trading instruments are charted according to default spreads, and may differ from the prices displayed on the Quotes screen depending on your account type due to differences in pop-up ticks.
Merakifx offers its clients competitive spreads on all trading instruments, but rarely add small increments on some or all of the instruments. Ensuring the best available market conditions and the lowest spreads is one of our most important goals, so that your orders are executed at the best market prices and you get the best spreads available.
In executing orders, we add a profit margin on the best available rates in the market according to your account type. The table below illustrates the impact of this margin on spreads, and shows the lowest possible spread in PIPS for each account type and currency pair.
Bearing in mind that our spreads are variable. The table below shows the best spreads available (as low as) for each account type and currency pair:
Account Type Starter Account Premium Account Ultimate
Spreads up to 1.5 starting from zero pips starting from zero pips
** During major news releases and market openings; Spreads on classic accounts (fixed spread) will be set as a variable, and will correspond to the best available market rates
Merakifx allows clients to take positions in the opposite direction from previously opened positions in the trading account, to limit losses and to decide when to enter the market at a later time.
It is forbidden to hedge any instrument against its counterpart OTC futures contracts (for commission-free Islamic accounts), as it represents an attempt to take advantage of the interest-free account service facility, and to earn profits from exchanging contracts. This type of hedge must be closed immediately. If the Client fails to take the necessary measures to avoid such practices, Orbex will be obliged to close them or take other actions (discounting retroactive swaps or any other means) on such accounts without further notice.
Hedged positions will remain in the trading account without affecting the value of the required margin, as the required margin for each instrument is calculated according to the net open positions at a particular moment.
The customer can execute any of the following commands:
open to open a new position;
close to close an open position;
Partial Close – to close part of an open position at the current market price and keep the remaining contracts (parts) open
Edit – to add, remove or edit stop loss, take profit, buy limit, buy stop, sell limit, sell stop
Close by, allowed in case of hedging
Multiple Close to close hedged positions on a specific instrument.
Market Orders: Orders sent from the client’s platform either by the client himself or from the components connected to the client’s platform (the Expert Advisor), to buy or sell an instrument at the current market price shown on the quotes screen.
Pending orders: This type of order can be set in the same way as market orders, but at prices that are expected by the trader and can be realized in the future, such as limit, stop and entry orders.
All pending orders are guaranteed according to the direct market value.
All pending orders remain valid until canceled (GTC), unless the client places the expiration time and date on the entry orders, or if the financial instrument expires.
All pending orders must be placed in accordance with the rules in the contract clauses for each instrument
Once the pending orders are activated, the system will reject any operation to attempt to cancel or modify these orders.
Conditions for pending orders may vary during force majeure market conditions.
If the market opens with a price gap after the weekend or official holidays, as a result of the announcement of important economic or political news, or in the case of force majeure events; Orders (Sell Stop, Buy Stop and Stop Loss) are executed at the first available prices in the market.
Although the previous case is not frequent, please be careful not to leave pending stop orders on the account before weekends or holidays.
It is not allowed to place stop orders before the release of financial news. Such orders may be rejected, deleted or placed at the best price available in the market at the time.
All futures contracts are categorized as market orders (no re-quotes) and are executed according to the market prices given by their corresponding exchange places at the time of execution; Additionally, fees may apply for these operations.
Rollover fees: No fees will be added to OTC futures contracts automatically, nor will rollover orders be accepted from clients; In the event that a client needs to rollover positions of an OTC contract/futures, he can close open positions on the current contract and reopen them on the next OTC future contract before the last trading day of each contract. The available futures trading instruments are:
Margin, contract size and general contract specifications are displayed in the Markets section of the website, and are updated periodically.
It means the ratio related to the size of the transaction and the basic margin, and the ratio of 1:100 means that in order to open one position the initial margin required will be one percent of the value of the original contract.
One lot size 1 is the unit of measure specified for each CFD contract. The minimum lot size is 0.01 micro lot, but this feature may vary by account type, as indicated on the site under Contract Benefits. Possible option leverage ratio ranges from 1:1 up to 1:500 depending on the type of CFD and at the discretion of the company. When opening a client’s account, the leverage ratio is set at 1:100 by default, and taken into account as appropriate depending on the type of CFD and the type of account. The client may change the leverage for his personal account by contacting the company. The company has the right to change the financial leverage of the client’s account at the company’s discretion. In addition, the Company may, at its discretion, change the leverage of the Client’s account without any prior notice to the Client.
Whatever your account type or the balance available in your account, the leverage will be determined based on the trading volume you have in effective use at any given time. Whenever your trading volume exceeds one set, the trading platform will automatically adjust your leverage according to the table below.
Trading Volume Leverage Terms
Active trading volume from 0.01 to 19.99 lots, leverage up to 1:500
Active trading volume from 20 to 39.99 lots, leverage up to 1:300
Active trading volume over 40 lots, leverage up to 1:100
* As per CySec rules, the leverage level on all accounts will be set at 1:30 by default. Any higher levels of leverage will only be available at the request of the client, which will be approved at the sole discretion of the company.”
** Professional accounts will be treated individually, and may not follow the above leverage rules.
Taking advantage of a high level of leverage may expand your trading possibilities, and lead to greater gains, as well as higher risks. Risk may be reduced by following a strict trading strategy in opening and closing your positions. For more information, please speak to a live technical support representative, or view details in the Contact Us section of our website.
The Client shall abide by the rules stated on the Orbex website, under the Contract Specifications section of each CFD, including margin requirements, and the Client shall provide and maintain the Initial Margin within these limits.
Knowing how to calculate the margin is the responsibility of the client.
Orbex has the right to amend any clause in the Contract Specifications section of each CFD including the margin requirements, and such changes may become effective for each of the existing/open positions; which may be announced through an internal mail message or on the company’s website; Except in the event of force majeure.
In the event of a force majeure event, Orbex will have the right to change the margin requirements without prior written notice to the client. The company also has the right to apply the new margin requirements to new positions and previously opened positions.
If at any time the Available Margin is less than 5%, Orbex shall have the right to close any or all open Client positions without the Client’s consent or any prior written notice. In order to determine whether the Customer has breached this clause, any amounts referred to in a currency not assigned to the Customer’s account, shall be treated as if they were denominated in the currency of the Customer’s account, and converted into the principal currency of the Customer’s account at the relevant exchange rate for the spot transaction in the Forex market.
The customer is responsible for notifying the company as soon as he believes that he will not be able to meet the margin payments when due.
The Company is under no obligation to make any margin call to the Client.
In cases where the Company implements or arranges a transaction that includes a financial instrument, the client shall indicate that, depending on the nature of the transaction, he may be responsible for making further payments when the transaction fails to complete or after early settlement or closing of his position. The Client may be required to make additional variable payments by way of margin against the purchase price of the instrument, rather than paying (or receiving) the entire purchase (or selling) price immediately. The movement in the market price of the Client’s investments will affect the amount of margin payment that the Client will be required to repay. The Client agrees to pay such amounts to the Company on demand by way of margin as such amounts are required from time to time under the rules applicable in any market (if any) or as reasonably required by the Company, at its discretion, for the purpose of protecting itself against loss or the risk of loss in an existing transaction or future or contemplated under this Agreement.
Slippage involves the execution of a particular transaction at a price different from the price expected or predetermined by the client. This slippage may occur during highly volatile market conditions such as (but not limited to) economic or political news. The order will be executed at the next best available price in the market, because – but not limited to – the pre-ordered price is not available, or because higher spreads are applied in the corresponding exchanges of the trading instrument.
Merakifx does not apply slippage under normal market conditions, but does apply to entering pending stops or liquidating orders during Merakifx closing times or at – but not limited to – weekend or bank holidays, international economic events or stressful market movements. In this case, the stop orders will be executed at the opening price that ORBEX finds appropriate.
Clients acknowledge that price slippage may occur in accordance with the terms and conditions of liquidity providers, and that this matter is beyond the control of Merakifx LTD, and agree to waive to Merakifx LTD any liability that may arise and cause any damage, expenses or losses incurred by the client in connection with the matter Price slip, either directly or indirectly
The physical acquisition of the customer as a result of any CFD traded at the specified delivery point worldwide.
Merakifx does not provide delivery for any completed, open or closed position on the trading platform.
It is a trading strategy in which a trader attempts to capitalize on small price movements by taking many trades on small price changes over a small period of time.
Scalping is allowed on accounts that offer variable spreads
However, Merakifx does not allow scalping on accounts with fixed spreads (Classic accounts). In the event that Merakifx classifies the Client as a Point Hunter or Scalper, the Company may, at its discretion and without prior written notice, take one of the following actions:
Changing the customer’s account type to a corresponding account of the variable differences type.
End this deal
Close all or any of the client’s open positions at the current market prices
Debiting the customer’s account from the amounts borne by the company
Close any or all of the client’s accounts with the company
collect client accounts; Merging client account balances and offsetting balances
Refusal to open new accounts for the client
It means the case of a client opening and closing a position in a very short time, usually based on trading incorrect spikes in the market, or taking advantage of the provided indicative prices.
Merakifx has the right to take any measures necessary to protect itself against phishing clients – or the like, and without any prior written notice, as such action is prohibited.
Merakifx allows placing market orders before or during the release of financial news
It is not allowed to place stop orders before the release of financial news. Such orders may be rejected, deleted, or triggered at the best price available in the market at the time.
Merakifx allows emergency telephone trading, all phone calls made from the operations desk are recorded by our recording system, and records are kept for 10 days. All conversations regarding quote requests, order placement and execution, or any other related trading agreements or issues are recorded to ensure clarity and accuracy for all parties involved in placing and executing trading orders.
Instructions for placing an order through the Operations Office over the phone:
Contact the trading desk.
Once you answer the phone, have the following information ready to give to the operator who answered your call:
Your trading account number
Your password (for security purposes)
The EA and Trailing Stop Loss facility is activated immediately upon account opening. These facilities must not violate any of the listed trading conditions. The following conditions also apply:
Scalping clients can only use the variable spreads.
Client should use the EA in a reasonable manner. All users of the EA on fixed spread accounts should not use it for frequent trading at the time of the news. Users of this technique should know that by using the EA constantly during news time they are preventing other clients from executing an accurate trade.
The company does not bear any responsibility when the client uses additional functions of the client’s trading terminal such as the Trailing Stop feature or the expert advisor, which is implemented entirely under the responsibility of the client, because it depends directly on his trading platform and the company does not bear any responsibility at all, and in the event that it suspects Company that a Client uses add-ons / plug-ins where it affects the reliability, smoothness and / or regulator of the Company’s trading platform the Company has the right to terminate the agreement or to cancel / delete such transactions.
The Company shall not be liable for any loss or expense incurred by the Client which is directly or indirectly related to the acts, omissions or negligence of any third party or any third party software including, but not limited to, expert advisors, signal providers, and platforms Social trading, VPN.
To determine the stop account level for an account type, please refer to the table below
Also, please note that all pending orders for suspended accounts will be removed, and any deficit that may result after liquidation will be dealt with by Merakifx.
20% 20% 20%
Merakifx offers Islamic accounts (interest-free) to comply with Islamic law. It is an advantage for all traders who keep their positions open for several days without being aware of the rollover fee. Thus, the trading account will not be paid, or will be paid to hold positions for more than one business day.
Any client who may abuse this feature by keeping positions open for an extended period of time, to take advantage of no swaps and get profit from interest, should close open positions immediately, bearing in mind that these fees are paid by Merakifx and not paid by customers.
Moreover, it is not allowed to hedge a currency pair against its futures counterpart, as this also represents an attempt to take advantage of the zero interest advantage and earn profit from it; This type of hedge should be closed immediately.
Also, some trading instruments will be charged storage fees while keeping their positions open for 9 days or more as shown below:
Trading Instrument Storage fee for each contract is calculated starting from
On all trading pairs $5 or its equivalent today 10
USDTRY $70 or equivalent today 1
EURTRY $70 or its equivalent today 1
USDZAR 25 USD or its equivalent today 1
USDMXN 25 USD or its equivalent today 1
XAU / XAG $5 or its equivalent today 10
If the Client fails to take action to avoid such practices, Merakifx will be required to close or take any necessary actions with respect to such accounts without prior written notice.
* After the tenth day storage will be applied for three days every week on Friday.
Merakifx clients can execute trades 24 hours a day from 00:05 on Monday to 23:57 on Friday (Cyprus time), except for some trading instruments that stop at different times; Trading schedules and more accurate information on each instrument are available through our website. Clients will be informed in advance of any change in trading hours due to market holidays or system maintenance requirements. Trading on all commodities is stopped on a daily basis from 23:59 to 01:02 Cyprus time in order to ensure the quality of the system.
Merakifx offers one type of order execution (cross-market execution) for all types of accounts for companies and individuals. All orders are executed according to the exact market value.
The table below shows the specification of execution across the market:
Currency Name Example: GBPUSD
All available tools
OTC Futures Yes
Execution of buy/sell orders at the best available price
Execution of stop/limit orders at the current price*
Maximum contracts per trade 50 lots**
DEALER EXECUTIVE INTERVENTION seldom
Cancel buy/sell orders No
Expert Advisor / Price Monitor Yes
Maximum trades per account 300
* In normal market conditions, otherwise, orders will be executed at the best available market price.
** Value may vary according to account type
*** Under normal market conditions
For customers who wish to report a trading error, please send an email to firstname.lastname@example.org, or contact us directly.
The customer must provide the following information so that we can assist in the event of a problem:
Trading account number
Detailed description of the problem/error
Customer ticket number, if any
Direct customer contact information
The client must inform Merakifx of any trading error within 24 hours from the time it occurred, otherwise Merakifx will not investigate the error.
Any trading error the company is responsible for will be modified.
1. The customer acknowledges that the bank transfer instructions provided to him will be limited to those issued by the company along with the account details and confirmation letter.
2. The company does not accept funds and/or payments in the trading account through any third party, and the company will not proceed with the procedures for financing the trading account unless the name of the depositor matches the name of the account holder. Restrictions on third-party payments are placed by banks and their supervisory authorities who have developed comprehensive procedures, regulations and laws to combat the transfer of illegal funds, which are known globally as money laundering operations. This agreement provides the customer with a guarantee that the funds in his account will never be paid to any other party.
3. The client’s goal in creating the trading account shall be limited to trading purposes only. The Company is in no way considered a bank nor does it hold deposits in the same manner as banks, where the purpose of holding deposits is limited to maintenance of margin to support the trading account and trading activities in general.
4. The Company’s regulations expressly state that in the event that any funds are deposited and/or any payments made by any person to the Company without such person holding a trading account and/or trading activities with the Company, all such funds and/or payments will be refunded from The company party to the person concerned using the same information and method of deposit that that person used to make such deposit, in which case refund fees may apply.
5. The Company shall always comply with all anti-money laundering laws and regulations under all applicable local laws. The Company will continuously review the activities of clients’ accounts to find any evidence of suspicious transactions that may be indicative of money laundering activities. This review may include monitoring of the following:
(a) Inflows and outflows of funds into and out of accounts.
(b) The source and destination of bank transfers.
(c) Other activities outside the ordinary course of business.
6. The customer can deposit funds into his account at any time. Deposits made by bank transfer, credit/debit cards, Skrill or any other method of electronic transfer/e-wallets (of which the customer originates) are accepted by the Company from time to time. The client acknowledges that he is aware of additional information related to deposit methods, fees and processing time for withdrawal and deposit requests via the company’s website on the Account Funding – Trading Accounts page, and agrees that the mentioned information is an integral part of this agreement.
7. The Company will complete requests for withdrawal of Client’s funds, either upon receipt of a form bearing the Client’s signature, which must match the signature form submitted by the Client to the Company in accordance with Clause 24.7 of the Client Agreement, or upon the withdrawal request submitted through the Merakifx Members Area.
8. When the Company receives instructions from the Client to withdraw funds from his account, it will pay the said amount within five working days once the following requirements are met:
(a) the withdrawal request must include all necessary information;
(b) the substance of the request is to make a bank transfer to the customer’s account; And
(c) The free margin in the customer’s account exceeds the amount specified in the withdrawal request at the time the payment is made, including all payment fees.
9. Only those related to the same customer will be executed. The Company reserves the right, at its absolute discretion, to refuse to make withdrawals to any account or third party other than the Customer. The Company will not process withdrawal requests directed to unidentified accounts.
10. Upon receiving the withdrawal request, the Client agrees that the Company will return the total amount of his first deposit to the same bank account, credit card and/or e-wallet account used by the Client to make his first deposit.
11. The Client acknowledges that the Company will not proceed with the withdrawal request if this request is sent by an account name other than the name used by the Client to make his first deposit.
12. The Customer agrees that when he deposits a certain amount using a specific bank account and/or bank card and/or electronic wallet, he will be obligated to withdraw the total amount of such deposit from that bank account and/or this bank card and/or electronic wallet before using Another withdrawal method.
13. The Company reserves the right to refuse the client’s withdrawal request using a specified transfer method and has the right to suggest an alternative method.
14. The customer accepts the possibility of delay in processing withdrawal and deposit requests if the company and/or any other bank and/or bank card processor and/or e-wallet service provider are unable to verify the correctness of the information provided by the customer.
15. The customer shall bear all payment and transfer fees, provided that the company deducts these expenses from the customer’s account.
16. The customer agrees that the company has the right to charge him any service fees, including withdrawal and deposit fees charged by the bank and/or the bank card processor and/or the e-wallet service provider at any time, at its absolute discretion and without the need to obtain the customer’s consent .
17. If the customer is required to pay any amount to the company whose value exceeds his account balance, the customer will have to pay the additional amount as soon as this obligation arises.
18. If the Customer makes any payments by bank account, credit card or any other method of electronic funds transfer, the Company will credit the relevant amount to the Customer’s account within one business day after such amount is settled in the Company’s bank account.
19. If there are funds owed to the Company by the Client but sufficient funds have not been settled and credited to the Client’s account, the Company shall have the right to treat the Client as having failed to pay the Company’s dues and therefore has the right to close his open positions, exercise other remedies against such Client or exercise its rights other under this Agreement.
Accounts are funded via credit cards directly through the company’s website.
Terms and conditions of payment by credit cards
The name on the credit card must match the name of the customer holding the account in the company.
Any deposits that do not match the above clause will be rejected. The sender will be responsible for all applicable fees.
Due to the regulatory requirements, the company has the right to refuse any credit card payments coming from areas with a risk rating.
Deposits paid in currencies other than US dollars will be converted to US dollars at the daily exchange rates of the banks.
The company does not charge any fees for online payment, but electronic payment gateways may charge you a fee at a specific rate for each payment.
Customer deposits paid by credit card are subject to the following fees:
Credit Card Companies: Yes
Withdrawals are made only by wire transfer to the customer’s bank account mentioned in the customer account agreement, or registered in a new account opening form on the Orbex website
We take credit card fraud very seriously. To protect our cardholders and ourselves, you may block requests that appear fraudulent for manual review. If necessary, we will invite you to check this application. If we are not able to reach you within a reasonable time, this order may be cancelled.
The customer acknowledges and accepts that all credit card transactions (deposits) are non-refundable or non-cancellable.
Terms and conditions for payment via credit cards on the Terms and Conditions page on our website apply.
The filing form contains the company’s bank information. The balance of the customer’s account will be adjusted as soon as we receive the funds sent via the remittance.
Customers must ensure that the beneficiary of this transfer is the company.
Customers must include the following information as a reference in the remittance:
Customer’s full name.
Client’s trading account number.
Bank transfers usually take between 2 to 5 business days to reach the company’s account.
Withdrawal will not be effected by bank transfer to the client’s personal bank account other than that previously provided in the client’s trading agreement, or that registered through a new account registration form on the Orbex website.
Customer deposits and withdrawals via bank transfer are subject to the following fees:
Company: no fee
Bank fees differ from one transfer to another, as each transfer is a different case. This difference is due to the following reasons:
The fees charged by the remitting bank and the receiving bank differ from one bank to another.
The fees set by both the sending bank and the receiving bank differ from one bank to another.
Remittance currency type.
If an intermediary bank is needed the cost increases.
Any costs paid by the bank to verify the transfer due to the inaccuracy of the banking information provided by the customer will be debited from his account.
Any other fees may be deducted from the customer’s remittance by the banks.
Bank transfers are not allowed before receiving the official agreement to open a new account.
In the event of any dispute arising regarding the client’s account and/or any open or closed positions within the client’s account, Merakifx has the right to internally investigate and audit the account, including all open and closed positions. At the same time, the funds deposited in the account will be frozen and no transactions will be allowed until the dispute is fully resolved.
In the event of a system failure, which may lead to the inability to execute the orders as per the customer’s instructions or the inability to execute the orders at all. whether it is a routine scheduled system maintenance or server update, arising from a power outage, network failure or any other reason; Customers are kindly requested to contact the trading desk for any inquiries.
The Client should be aware that the Company may, from time to time, pay fees, commissions or non-monetary benefits to third parties. More details are disclosed upon customer request.
Merakifx has the right to modify, change, delete or add spreads, fees, commissions, leverage, account type, margin requirements, liquidation level (account stop point) and any other offers for any accounts or any positions at any time without prior notice.
The prevailing version of this Policy is the most recent version published on the Company’s website in the English version.
These terms are an essential part of the client’s trading agreement. In the event that any clause of the trading policy differs with a clause or clauses in the trading agreement for clients, the terms of this document shall be approved.
Amendments shall be applied in the event of force majeure without prior notice.
CFDs carry a very high level of risk, especially when they are highly leveraged (the higher the leverage of a CFD, the more risky). They are not standard, standardized products, and the various CFD providers have their own fees, terms and conditions. Therefore, they are generally not suitable for most retail investors.
Liquidity risk affects your ability to trade. One of the risks of CFDs is not being able to trade them at the time you want them (to prevent a loss, or to make a profit).
Execution risk is related to the fact that trades may not take place immediately. For example, there may be a time lag between the moment your order is placed and the moment it is executed.
There are risks associated with using an online trading system to execute trades. These risks include, but are not limited to, failure or failure of hardware, systems, and Internet connectivity. Merakifx has no control over the power, reception or routing of signals over the Internet, the configuration of the equipment or the reliability of its connection, and we are not responsible for communications failure, interference or delays when trading online.
The client acknowledges and declares that he has read and understood and therefore accepts the following without any reservation:
The value of the financial instrument (including currency pairs, indices, or any other derivative product) may decrease, the client may receive less money than the original invested amount, or the value of the financial instruments may have high volatility.
Information about the past performance of a financial instrument does not guarantee current and/or future performance, and the use of historical data does not constitute a reliable or safe expectation of future return, as well as return to counterpart data from futures contracts.
Some Financial Instruments may not be immediately available for various reasons such as low demand, and the Company may not be in a position to sell these Financial Instruments easily or obtain information on their value, or the severity of any matter related to these Financial Instruments.
When a financial instrument is negotiated against a currency other than the currency of the customer’s country of residence, any change in the exchange rate, may have a negative impact on the value, price and performance of the financial instruments.
The existence of a financial instrument in foreign markets may involve risks different from the usual risks of the markets in the client’s country of residence. The potential for profit or loss of trades in foreign markets is also affected by exchange rate fluctuations.
Merakifx Group Limited is the holding company of Merakifx Global, and Merakifx Limited is an associate company with Merakifx Global Limited, which is authorized by the Securities and Exchange Commission of Mauritius.
Following the implementation of the Markets for Financial Instruments Directive (MIFID), as well as the Investment Services, Investment Activities and Regulated Markets Act of 2007 (Law (1)/2007144), the Company has established a Conflict of Interest Policy to attempt to take all appropriate steps to identify conflicts of interest – between directors, employees and affiliated agents, or any person who is directly or indirectly related to the Company, and between its clients or between one client and another in the course of providing any non-essential investment services. The company is working on re-arranging effective organizational and administrative arrangements by taking all deliberate and designed steps to prevent conflicts of interest so as not to adversely affect the interests of its clients.
To determine the types of conflicts of interest that may arise in the course of providing investment or non-essential services, or a combination thereof, which may harm the interests of the Client, and by minimum standards, the Company shall take into account such a matter, whether it means the Company or a related person, or a person directly or indirectly associated with the company. In any of the following cases, whether as a result of providing investment services, additional services or investment activities:
the possibility of the Company or the person concerned making financial gain, or avoiding financial loss, at the expense of the customer;
the existence of an interest of the company or the person concerned in the results of the service provided to the customer or the results of the transaction conducted on behalf of the customer, and these results are different from the interest of the customer;
the existence of a financial or other incentive for the company or person concerned in favor of the interest of another client or group of clients against the interests of the client;
The company or the person concerned bears the same business as the customer;
The company or the person concerned receives incentives from a person other than the customer, in connection with the service provided to the customer, in the form of money, goods or services, and other commissions or fees for that service.
*Identification of the person concerned: may mean any of the following:
A director, partner or substitute, director or affiliated agent of the Company;
An employee of a company or an employee of an agent affiliated with the company, or any natural person whose services are subject to the disposal of the company, or an authorized agent of the company participating in the provision of the services and activities of the investment company;
A natural person who works directly to provide services to the investment company or its authorized agent as a kind of outsourcing for the purpose of providing the services and activities of the investment company
The Company has established appropriate and sufficient internal procedures to minimize any potential conflict of interest. The Company owns the Compliance Department, which is an independent unit within the Company. Some of the duties of this department employee are to monitor any potential deviation from the company’s internal policies and procedures, as well as identify and manage any potential conflicts of interest. In addition, external audit firms are outsourced to perform the company’s internal audit functions.
The procedures followed in this policy include the following (as necessary for the Company to ensure the required degree of independence):
Effective measures to prevent or control the exchange of information between persons involved in activities that involve a risk of conflict of interest, where the exchange of such information may harm the interests of clients;
separate supervision of relevant persons (including the Company) primarily engaged in carrying out activities on behalf of clients whose interests may conflict, or the provision of services to them, or who represent different interests that may conflict;
remove any direct link between the wages of relevant persons principally engaged in one activity and the wages (or earnings earned) of the various related persons principally engaged in another activity that may create a conflict of interest;
measures to prevent a person from engaging in abnormal activities so that the relevant person can use the Services or additional investment activities;
Measures to prevent or control the relevant person’s concurrent involvement in a separate investment, services or additional investment activities, where such participation may be considered a cause of conflict of interest. The items below set out some of the policies and procedures that the Company implements to manage potential conflicts of interest:
Create Chinese walls to prevent the non-public transfer of information between departments,
To avoid any misuse of the position, the principle of 4 eyes is applied,
Restrictions on the use of a personal account act in the place of minimizing the transactions of the relevant person.
For more details regarding the Company’s policy and procedures on conflicts of interest, you should contact the Compliance Department and request such documentation.
The company has the right to amend the current policy at its discretion, and at any time it deems appropriate. The Company reviews and amends the current policy on at least an annual basis.
The organizational or administrative arrangements put in place by the Company to manage conflicts of interest are not always sufficient, with a reasonable degree of confidence, to ensure that risks of damage to the interests of the client are prevented, they clearly disclose the general nature and/or sources of conflicts of interest to the client before commencing business on his behalf .
Accounts without any trading activity and/or inactive accounts and/or remained inactive and/or have zero balance for a period of six (6) months or more, are considered by Orbex as dormant accounts. These dormant accounts will be subject to fees/charges related to the maintenance/management of these accounts. When classifying the account as a resident Orbex account it has the right to charge an “inactivity fee” of $20, £20 or PLN 20 (depending on the account holder’s base currency) per month, which will be deducted and charged from the account balance specified until the account holder owns Funds requested and/or until a zero balance/sum is reached. These “inactivity fees” do not in any way give an account a missing balance.
Any dormant account that has been dormant for a total period of twelve (12) months shall be deemed to be closed on the first day after twelve (12) months of no transactions. Both dormant or closed accounts will be immediately frozen, and the account holder will not be permitted to make any transaction Others in a dormant or closed account.
In order to reactivate a dormant or closed account, the account holder must initiate Merakifx’s KYC / CDD procedures, fund his account and make at least one (1) trade with the company.
Clients holding long positions on the applicable shares on the ex-div date (the date linked to the dividend) will receive a dividend in the form of a cash adjustment (deposit, paid into their trading account).
Clients who hold short positions on the applicable share on the ex-dividend date will be charged the amount of the dividend in the form of a cash adjustment (withdrawal, debit from their trading account).
We reserve the right to increase margin requirements prior to the release of earnings.
Shares may be shown as dividends. The amount of the dividend will be calculated using the stock price to determine the cash adjustment (see Partial Stock Adjustments).
2. Partial Quota Adjustments:
In the event that the company’s action results in a fractional position, the fractional component may be represented as a cash adjustment independent of the handling of the non-fractional position. The value of the adjustment will equal the fractional position multiplied by the adjusted closing price on the day before the previous date.
3. Other Corporate Actions (including, but not limited to, stock splits and rights issue):
An appropriate adjustment will be made to the client’s position to reflect the economic impact of the company’s actions.
4. Announcements of the preliminary results:
We will increase margin requirements and limit the maximum exposure to the relevant instrument before earnings announcements.
5. Crossed out insert:
In the event of a stock being delisted, the client’s position will be closed at the last price traded in the market.
For certain corporate actions not specifically mentioned in this section, including, but not limited to, mergers and acquisitions (collectively “mergers and acquisitions”) and leveraged takeovers (“LBOs”), we reserve the right to:
increased margin requirements;
suspend or stop trading in the relevant instrument;
setting the maximum exposure (order size) for the relevant tool;
closing positions in the event that the relevant instrument stops trading on the relevant exchange;
Take any other action we deem necessary in the particular circumstances.