Fincore FX
Terms and Conditions Background

Terms and Conditions

1. Introduction

1.1 Company Information

Fincore FX Limited. (the “Company”) is a private limited company incorporated under the laws of Saint Lucia, licensed and registered under the International Business Companies Act, Cap 12,14: section 6. Registered Name: Fincore FX Limited.. Registration Number: 2024-00509.

1.2 Service Provided

The Company provides an execution-only service in Forex and CFDs. Trading in these products involves a high risk of losing money rapidly due to leverage. Before engaging in trading, you should ensure you fully understand the risks and whether you can afford to incur losses.

2. Important Notices

2.1 Risk Disclosure

Forex and CFDs are complex instruments with a high risk of losing money quickly due to leverage. A detailed risk warning disclosure is available on our website. You should ensure that you understand the risks involved before trading.

2.2 Suitability

Our products are not suitable for everyone. They should only be traded by individuals who (i) can afford to lose the entire invested amount, and (ii) have a high-risk tolerance.

3. Trading Terms

3.1 Nature of Trading

Trading with the Company does not provide you with ownership or interest in the underlying financial instruments. Trades are not conducted on an exchange or market but are executed with the Company as the counterparty.

3.2 Responsibility for Decisions

We offer an execution-only service. We do not provide trading advice or portfolio management. You must make trading decisions based on your own judgment or that of an independent advisor.

3.3 Principal and Agent

You will act as a principal and not as an agent for others. We will treat you as the sole party responsible for your trading activities. If you are operating on behalf of someone else, we reserve the right to terminate the terms and close positions without notice.

4. Complaints Handling

4.1 Complaint Procedure

The Company is committed to handling complaints promptly and fairly. To make a complaint, contact us in writing using the methods provided. We aim to resolve complaints within forty days. Detailed procedures are available on our website.

5. Market Abuse

5.1 Prohibited Activities

You must not engage in activities that could be considered market abuse. This includes, but is not limited to, improper trading practices. The Company reserves the right to void or cancel positions, close trading accounts, terminate these terms, and seize improperly earned profits in cases of market abuse.

6. Conflict of Interest

6.1 Management and Disclosure

The Company has implemented policies and procedures to manage and disclose conflicts of interest that may arise between the Company and its clients. We are committed to ensuring fair treatment and transparency in all dealings. Details of our conflict of interest policy are available on our website.

7. Termination

7.1 Termination of Terms

The Company reserves the right to terminate these terms and conditions at any time, with or without cause, by providing written notice to you. Upon termination, all open positions will be closed, and any remaining funds in your account will be returned to you, subject to any outstanding fees or charges.

7.2 Immediate Termination

We may terminate these terms immediately if we determine that you have violated any terms or engaged in any prohibited activities. In such cases, the Company may also cancel or close any open positions and block access to the trading platform.

8. Liability and Indemnity

8.1 Limitation of Liability

To the fullest extent permitted by law, the Company will not be liable for any direct, indirect, incidental, or consequential damages arising from your use of our services or any related activities. This includes, but is not limited to, losses resulting from errors, delays, or interruptions in service.

8.2 Indemnity

You agree to indemnify and hold harmless the Company, its affiliates, directors, officers, and employees from any claims, losses, or damages arising out of or related to your use of our services, including any breach of these terms.

9. Governing Law and Jurisdiction

9.1 Governing Law

These terms and conditions shall be governed by and construed in accordance with the laws of Saint Lucia.

9.2 Jurisdiction

Any disputes arising from or related to these terms shall be subject to the exclusive jurisdiction of the courts of Saint Lucia.

10. Amendments

10.1 Changes to Terms

The Company reserves the right to amend these terms and conditions at any time. Any changes will be effective immediately upon posting on our website. It is your responsibility to review these terms regularly. Continued use of our services after any changes constitutes acceptance of the amended terms.

11. Miscellaneous

11.1 Severability

If any provision of these terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

11.2 Entire Agreement

These terms constitute the entire agreement between you and the Company concerning the subject matter hereof and supersede all prior agreements and understandings, whether written or oral.

11.3 No Waiver

The failure of the Company to enforce any provision of these terms shall not be deemed a waiver of future enforcement of that or any other provision.

12. Contact Information

12.1 Company Contact

Section 1: Account Opening

1.1 Accepting You as a Client

Client onboarding involves various processes to assess the suitability of your application. We reserve the right to decline any application at our sole discretion without providing a reason.

1.2 KYC and CDD Checks

Before opening your account and at any time thereafter, we will perform KYC (Know Your Customer) and CDD (Customer Due Diligence) checks in accordance with applicable regulations and our internal policies. You agree to promptly provide us with all required information. We may use organizations such as Acuris KYC6 and Jumio to verify the details you provide.

1.3 No Responsibility for Actions of an Introducing Party

If introduced to us by a third party (an "introducing party"), you acknowledge and agree:

  • Our responsibility is limited to our execution-only services.
  • We have no responsibility or obligation regarding the conduct, advice, or representations of the introducing party.
  • We have no obligation to verify the legal standing or regulatory status of the introducing party.
  • An introducing party is independent, not our agent, representative, or affiliate, and is not authorized to make representations about us.

1.4 Operating Your Account via an Authorized Third Party

To appoint an authorized third party, you must sign an appointment letter and limited power of attorney, which will form part of these terms. You do so at your own risk and remain liable for actions by the authorized third party. We will act on their instructions in good faith without further inquiry.

1.5 Account Security

It is your responsibility to keep your security information confidential. We will never ask for your username or password. You agree not to disclose your security information to anyone.

Section 2: Our Activities and Services

2.1 Business Models

  • Execution-Only: We provide execution-only services and do not offer advice on positions, deposits, withdrawals, or tax consequences. We do not provide management services.
  • Straight Through Processing Broker: We quote prices provided by liquidity providers through electronic trading services. Quotes represent the prices at which we are prepared to deal with clients.
  • No Reliance: We do not provide advice or recommendations on positions or investments. Information provided by us is not a recommendation or comprehensive assessment.

2.2 Independent Appraisal

When placing an order or opening/closing a position, you represent that you have made your own appraisal of the risks and have sufficient knowledge or professional advice. We do not owe you fiduciary or equitable duties unless specifically agreed in writing.

2.3 Investment Services and Activities

We offer the following investment services and activities:

  • Trading in global markets.
  • Trading in local markets.

2.4 Products

Our list of products will be updated on our website. Offering specific products to you is determined at our sole discretion based on internal policies and other considerations.

2.5 Communications on Our Services and Products

We may contact you to discuss our services and products, including general trading recommendations and market commentary. Such communications do not imply suitability or a personal recommendation.

Section 3: Placing an Order

3.1 Overview

You may open or close positions by placing orders at quoted prices. Quotes are indicative and not offers to open or close positions until an order is accepted.

3.2 Placing an Order

Orders may be placed electronically through the platform. We will not be liable for losses or damage arising from delayed or non-receipt of orders.

3.3 Right Not to Accept an Order

We may decline orders without obligation to provide a reason. We will notify you of a declined order but are not liable for any resulting expenses, losses, or damages.

3.4 Amending an Order

Orders may only be withdrawn or amended with our consent.

3.5 Cancellation of an Order

Requests to cancel orders are only accepted if the order has not yet been acted upon.

3.6 Order Handling

  • Order Execution Policy: Orders are executed per our order execution policy, available on our website. By accepting these terms, you consent to this policy.
  • Execution: We will use reasonable efforts to execute orders promptly but do not warrant execution or that it will match your instructions. Orders may be executed outside market hours, possibly resulting in less favorable prices.
  • Aggregation: We reserve the right to aggregate orders with those of other clients, which may result in less favorable prices. We will not be liable for such outcomes.

3.7 Authority

You authorize us to act on orders given by you through authorized channels. You agree to hold us harmless from losses or damages arising from any unauthorized or fraudulent instructions. We are not obliged to inquire into the authority of anyone representing you.

3.8 Control of an Order

We may set limits or parameters on your ability to place orders or give instructions. These may include margin requirements, order sizes, and other parameters.

3.9 Position Limits

We may impose limits on your positions and close out positions to maintain these limits.

3.10 Trading Relationship

Our trading relationship is subject to market terms, applicable regulations, and our policies.

3.11 Market Action

We may take necessary actions if a market or underlying market affects a position, including actions that may impact your positions or these terms. You must cooperate with any inquiries from authorities.

3.12 Governmental, Regulatory, and Law Enforcement Action

We may take necessary actions if required by authorities affecting our relationship with you or your positions. You must cooperate with such inquiries.

3.13 Confirmations

We will send confirmations of positions opened or closed at the end of each trading day. Confirmations are binding unless an objection is raised within five business days or we notify you of an error.

3.14 Market Abuse and Conduct

If we suspect market abuse or manipulation, we may take actions including closing positions or suspending your account. You agree not to engage in market abuse and understand applicable regulations.

3.15 Anti-Money Laundering

You represent that you comply with anti-money laundering laws and that funds provided do not stem from criminal or terrorist activities. We may cease to act if required by anti-money laundering legislation without liability.

4. Equity, Margin, and Leverage

4.1 Equity, Margin, and Free Margin

4.1.1 Equity: The term "equity" refers to the total value of your account at any given time, after accounting for deposits, withdrawals, realized profits and losses, and the floating profit and loss of open positions.

4.1.2 Margin: "Margin" denotes the portion of your equity utilized to open one or more positions. Margin is not deducted from equity calculations and cannot be used for additional positions or withdrawals.

4.1.3 Free Margin: "Free margin" is the portion of your equity not used as margin. This amount may be employed to open new positions or withdrawn from your account.

4.2 Margin Calls and Auto Stop-Out

4.2.1 Margin Call: If your equity falls below 100% of your margin, your account will enter a margin call. You must then either close one or more positions, deposit additional funds, or both, to restore your equity above the required margin.

4.2.2 Auto Stop-Out: Should your equity fall to or below 30% of your margin (or another percentage as specified), an auto stop-out will occur. The automated risk management system will close some or all open positions to raise your equity above the required level. Positions carrying the greatest loss may be closed first, and all positions might eventually be closed to restore equity.

4.2.3 Responsibility: While we may inform you of margin calls, you are responsible for monitoring your account and ensuring sufficient equity to meet margin requirements.

4.3 Leverage

4.3.1 Definition: Leverage allows you to open positions for a value greater than the margin amount. It is expressed as a ratio (e.g., 10:1, 100:1, 200:1, 400:1). Higher leverage means less margin is needed relative to the position's notional value.

4.3.2 Margin Calculation: Margin is calculated as a percentage of the notional value of an open position. We determine and may adjust this percentage at our discretion.

4.3.3 Leverage Changes: We may alter the leverage of products or accounts due to market conditions, default events, risk assessments, or increased volatility. It is your duty to stay informed of any changes.

5. Charges and Payments

5.1 Charges

5.1.1 Dividend Charges: Your account may incur dividend charges when trading indices or stocks, which can be either positive or negative based on the position (long or short).

5.2 Payments

5.2.1 Due Payments: Unless specified otherwise, all payments due under these terms must be made immediately in the currency specified by us, exclusive of VAT.

5.2.2 Set-Off: We reserve the right to offset any payments or dues against the funds in your account.

5.2.3 Currency Conversion: We may convert amounts denominated in one currency to another currency as required for calculations at prevailing rates.

6. Client Money

6.1 Handling of Client Money

6.1.1 Segregation: Client money is held in a designated client money account, segregated from our assets. Funds may be in a different currency but will be equal in value and comply with Financial Act rules.

6.1.2 Source of Funds: If funds are transferred from an unregistered source or a non-beneficiary account, we may return such funds and void positions opened with them.

6.1.3 Interest: No interest is payable on client money.

6.1.4 Outsourcing: Certain operational functions related to payment processing may be outsourced.

7. Representations, Warranties, and Covenants

7.1 Client Representations and Warranties

7.1.1 Authority and Compliance: You represent that you have the legal capacity and authority to enter into these terms, and are compliant with applicable laws and regulations.

7.1.2 Financial Capacity: You are financially able to sustain a total loss of funds and have sufficient knowledge to understand and assume the risks associated with trading.

7.1.3 Accuracy of Information: You will provide accurate information regarding your financial status and promptly notify us of any changes.

7.1.4 Regulatory Compliance: You will comply with all applicable regulations and disclose information as required by regulatory authorities.

7.2 Event of Default

7.2.1 Events: Breach of terms, repudiation, failure to comply, default under other agreements, force majeure, and other specified conditions constitute an event of default.

7.2.2 Termination: In the event of default or termination, we may terminate these terms immediately and close open positions. Termination of terms will not affect existing rights and commitments.

7.3 Termination Events

7.3.1 Conditions: Insolvency, bankruptcy, improper trading, regulatory changes, and other specified conditions constitute termination events, leading to automatic termination of these terms.

8. Liquidation and Payment

8.1 Liquidation Date

8.1.1 Action: Following an event of default or termination event, we will set a liquidation date for terminating and liquidating your open positions.

8.2 Payment

8.2.1 Withdrawals: We are not obligated to honor withdrawal requests if there is a continuing event of default until it is remedied or the liquidation date occurs.

8.3 Additional Rights

8.3.1 Rights: Our rights under this section are in addition to other rights we may have by agreement or law.

9. Exclusions, Limitations, and Indemnity

9.1 Exclusions of Liability

9.1.1 Liability: We and our affiliates are not liable for loss, damage, or expenses arising from market delays, technical issues, or other factors unless due to fraud.

9.1.2 Service Warranty: Services are provided "as is" without any warranties. We do not guarantee accuracy or uninterrupted access to our services.

9.1.3 Limitation of Liability: We are not liable for special damages, loss of profits, goodwill, or business opportunities, except for death or personal injury resulting from negligence.

4. Exclusions, Limitations, and Indemnity

4.1 General Exclusion

4.1.1 Scope: This general exclusion shall not be affected by the termination of these terms.

4.2 Tax Implications

4.2.1 Liability: Without limitation, we do not accept liability for any adverse tax implications resulting from a position or transaction.

4.3 Force Majeure

4.3.1 Non-Liability: We shall not be liable to you for any delayed, partial, or complete non-performance of our obligations under these terms due to force majeure events.

4.3.2 Efforts to Mitigate: We shall use all reasonable endeavors to bring the force majeure event to a close or to find a solution that allows us to perform our obligations despite the force majeure circumstances. We will also take all reasonable steps to resume performance as soon as is reasonably practicable following the cessation of a force majeure event.

4.4 Indemnity

4.4.1 Obligations: You shall pay to us any sums required to satisfy a debit balance on your account. Additionally, you shall indemnify us on a full indemnity basis for any loss, liability, cost, expense (including legal fees), tax, impost, or levy incurred by us or our affiliates with respect to your accounts, positions, transactions, or due to a misrepresentation or breach by you of your obligations under these terms.

4.4.2 Payment Terms: All sums payable under this clause shall be paid free and clear of all deductions or withholdings, unless required by law.

4.4.3 Exclusions: The provisions of this clause shall not exclude or restrict any duty or liability we may have under the Financial Act rules.

4.5 No Reliance

4.5.1 Representation: You acknowledge that you have not relied on or been induced to enter into these terms by any representation other than those expressly set out in these terms. We will not be liable for any representation not included in these terms.

5. Data Protection

5.1 Data Collection and Usage

5.1.1 Personal Data: In the course of providing our services, we may collect and use personal data concerning individuals (the “data subjects”), including customers, their spouses or civil partners, or other relatives.

5.1.2 Compliance: We comply with applicable regulations on data protection, ensuring personal data is not kept longer than necessary and is used only to fulfill legal and regulatory obligations or policies.

5.1.3 European Nationals: If you are a European national or resident, we process and use your personal data in accordance with European data protection law. Please refer to our privacy notice for details. In case of any conflict between these terms and the privacy notice, the privacy notice will prevail.

5.1.4 Purpose of Data Usage: Personal data will be used for:

  • Providing services, recovering debts, preventing fraud, or money laundering.
  • Disclosures to regulatory authorities, stock exchanges, clearing-houses, anti-fraud and anti-money laundering controls, and as required by law or court orders.
  • Marketing purposes, unless you opt out by notifying us.
  • Contacting data subjects for service-related purposes.
  • Sharing with affiliates and business partners for the above purposes.

5.1.5 International Transfers: We may transfer personal data internationally to our affiliates in countries with differing data protection legislation. By entering into these terms, you consent to such transfers and to using personal data of other individuals with their explicit consent.

5.1.6 Access and Correction: Data subjects can request copies of their information or corrections by writing to us. We may charge an administration fee and require appropriate proof of identity.

5.2 Regulatory Reporting

5.2.1 Public Information: Under Financial Act rules, we may be required to disclose information about certain positions publicly. You agree that all proprietary rights in such information belong to us, and you waive any duty of confidentiality.

5.3 Reporting Obligations

5.3.1 Performance Reports: We may provide regular reports on our services’ performance in accordance with Financial Act rules. Reports will include associated costs and charges as applicable.

6. General Provisions

6.1 Conflict or Inconsistency

6.1.1 Language: These terms are supplied and communicated in English. In case of translation, the English version will prevail in case of conflict or inconsistency.

6.2 Applicable Regulations

6.2.1 Binding Regulations: These terms are subject to applicable regulations, which are binding on both parties. Nothing in these terms excludes or restricts obligations under Financial Act rules.

6.2.2 Compliance Actions: We may take necessary actions to ensure compliance with applicable regulations, which will not render us liable for any actions or omissions in compliance.

6.3 Amendments

6.3.1 Modifications: We may amend these terms at our discretion by publishing the amended terms on our website. Amendments will be effective immediately upon publication, with written notification provided.

6.4 Notices

6.4.1 Communication: Notices and communications will be sent to the registered email address and will take effect on dispatch. Notices must be objected to within five business days of dispatch.

6.5 Communications with Us

6.5.1 Contact Details: You may communicate with us via:

6.5.2 Order Instructions: See Section 3 for sending orders and instructions.

6.6 Electronic Communications

6.6.1 Binding Nature: Electronic communications, including signatures and acceptance via electronic means, will be binding as if in writing. Orders and instructions given electronically will be evidence of such orders.

6.7 Policies

6.7.1 Policy Integration: All current policies are part of these terms. By accepting these terms, you confirm that you have read and understood the policies. Amendments to policies will be effective five business days after posting on our website.

6.7.2 Objections: If you object to a policy, notify us within five business days. We will attempt to resolve the issue; if not resolved, these terms will be terminated.

6.8 Complaints Procedure

6.8.1 Submission: Complaints can be submitted by letter, telephone, email, or in person. We will acknowledge receipt within three business days. Details of our complaints procedures can be obtained by contacting us.

6.9 Conflicts of Interest

6.9.1 Policy: Our conflicts of interest policy outlines the procedures and measures to identify, prevent, or mitigate conflicts. A copy of the policy is available on our website and is part of these terms.

6.10 Entire Agreement

6.10.1 Supersession: These terms replace any prior agreements regarding the subject matter. They represent the entire agreement between us.

6.10.2 Single Agreement: These terms, applicable to each position, and any amendments constitute a single agreement.

6.11 Assignment

6.11.1 Transfer: These terms are binding on successors and assignees. You may not transfer rights or obligations without our written consent. We may delegate or assign our rights without your consent.

6.12 Joint and Several Liability

6.12.1 Partnerships: For partnerships or multiple persons, liability is joint and several. Obligations continue in the event of death, bankruptcy, or dissolution of any person involved.

6.13 Confidentiality

6.13.1 Confidential Information: Both parties agree to maintain confidentiality and not disclose information except as required for providing services, by law, or as specified in these terms.

6.14 Rights and Remedies

6.14.1 Cumulative: Rights and remedies are cumulative and not exclusive. A failure or delay in exercising rights does not constitute a waiver of such rights.

6.15 Set-Off

6.15.1 Offset: We may set off amounts owed to us against your account without notice. You cannot exercise a right of set-off against amounts owed to us.

6.16 Partial Invalidity

6.16.1 Validity: If any provision is deemed illegal, invalid, or unenforceable, the remaining provisions and their enforceability will not be affected.

6.17 Recording and Monitoring of Communications

6.17.1 Recording: Communications may be monitored and recorded for regulatory compliance and evidence of instructions. Such records are our property.

6.18 Our Records

6.18.1 Evidence: Our records will serve as evidence of dealings with you and are admissible in legal proceedings.

6.19 Your Records

6.19.1 Record Keeping: You agree to maintain records in accordance with regulations to demonstrate order submissions.

6.20 Cooperation for Proceedings

6.20.1 Support: You agree to cooperate with us in any legal proceedings related to these terms.

6.21 Governing Law

6.21.1 Jurisdiction: Positions governed by underlying market rules are subject to those laws. Otherwise, these terms and related matters are governed by the laws of St. Lucia.

6.22 Arbitration

6.22.1 Dispute Resolution: Disputes arising under these terms will be resolved by arbitration in St. Lucia, per applicable rules.

6.23 Review

6.23.1 Regulatory Review: Terms and policies are subject to review by regulatory authorities to ensure compliance with regulations.

12. Definitions

In these terms, the following expressions shall have the respective meanings set opposite them:

  • “account” means a trading account opened with us for the purpose of opening or closing out a position.
  • “Account statement” means a daily or monthly statement in respect of each account sent by email at the end of each business day, or as otherwise notified by us to you.
  • “affiliate” means, in relation to a person, an entity controlled, directly or indirectly, by the person, an entity that controls, directly or indirectly, the person, or an entity directly or indirectly under common control with the person. For the purpose of this definition, “control” of an entity or person means ownership of more than 50% of the entity or person, or the ability to control the decisions made by the entity or person.
  • “applicable regulations” means:
    • The Financial Act rules, and any other rules of a relevant regulatory authority;
    • The rules, regulations, procedures, and customs of a relevant market or an underlying market;
    • The applicable anti-money laundering legislation;
    • All other applicable laws, rules, procedures, guidance, and regulations (including, without limitation, accounting rules and anti-money laundering or sanctions legislation) as in force from time to time.
  • “authorised third party” means a person authorised by you to manage and operate your account within the specified powers and authority granted under a separate appointment letter and limited power of attorney (in the form satisfactory to us).
  • “auto-stop-out” has the meaning ascribed to it in clause 4.2.2.
  • business day” means a day which is not a Saturday or Sunday on which banks are open for business in St. Lucia.
  • “CFD” means a contract for difference under which the profit or loss is determined by the difference between the opening price and the closing price of an instrument on the underlying market. The CFDs we offer are available on our website. For the purposes of this definition, “opening price” means the price at which a position is opened following the acceptance of an order; and “closing price” means the price at which a position is closed out by you or by us, in accordance with these terms.
  • “Conflicts of interest policy” means our conflicts of interest policy as amended, restated, or supplemented from time to time which can be found on our website.
  • “CDD” or “KYC” means identification and verification of:
    • Your identity (including, where applicable, by reviewing a copy of a passport, national identity card, or similar form of identification);
    • The nature of your business as required by applicable regulations (including, where applicable, by obtaining your legal entity identifier or other national identifier code); and
    • Such other aspects or considerations as determined by us in our discretion, to ensure that we hold the correct and complete information to prevent a discrepancy in your identification, to confirm the source of funding, wealth and payment methods, to prevent fraud and to comply with applicable regulations and our policies from time to time.
  • “Electronic trading services” means an electronic service (together with a related software or application) accessible by whatever means we offer, including without limitation trading, direct market access, order routing, API, or information services that we grant you access to or make available to you either directly or through a third-party service provider and used by you to view information or effect positions, and “electronic trading service” shall mean any of those services.
  • “equity” has the meaning ascribed to it in clause 4.1.1. For the purposes of this definition “balance” means the money in your account, which includes deposits, withdrawals, and realised profit and loss.
  • “force majeure” means a cause preventing the performance of the services or an obligation under these terms, which arises from or is attributable to either an act, event, omission, or accident, beyond the reasonable control of the party so prevented, including, a strike, lockout, labour dispute, act of God, pandemic, war, terrorism, malicious damage, civil commotion, malfunction or failure of communication or computer facilities, industrial action, acts and regulations of a governmental or supranational body or authority.
  • “forex” means two-day rolling spot futures traded over the counter and which are cash settled on an AT+2 basis. Forex constitutes rolling daily positions.
  • “free margin” has the meaning ascribed to it in clause 4.1.4.
  • “insider dealing” means the use of inside information to acquire, amend, dispose of, or cancel, for your own account or for the account of a third party, directly or indirectly, financial instruments to which that inside information relates. For the purposes of this definition, “inside information” means information of a precise nature, which has not been made public, relating, directly or indirectly, to a financial instrument, and which, if it were made public, would be likely to have a significant effect on the price of the financial instrument or on the price of related derivative financial instruments.
  • “Financial Act rules” means any laws, rules, regulations, guidelines, or instructions, as supplemented, replaced, or amended from time to time, of the financial sector conduct authority (the Financial Act) and any entity or body that succeeds or replaces it.
  • “liquidity provider” means a financial institution that provides executable bid and offer prices in respect of our products from time to time.
  • “market” means a regulated market accepted by us, such as an exchange, clearing house, central clearing counterparty, multilateral trading facility, or an organised trading facility.
  • “market abuse” means both insider dealing and market manipulation. For the purposes of this definition, “market manipulation” means the act of placing an order or entering into a position or other behaviour which creates, or is likely to create, a false or misleading signal as to the supply of, demand for, or price of, a financial instrument, or which adversely affects our relationship with our liquidity provider.
  • “margin” has the meaning ascribed to it in clause 4.1.2.
  • “margin call” has the meaning ascribed to it in clause 4.2.1.
  • “order” means an instruction by a client to open or close a position in a product.
  • “platform” means one or more of the electronic trading platforms that we may use for the provision of our services or to which we give you access from time to time, including but not limited to, MetaTrader 4 and MetaTrader 5, and the Fincore FX trading mobile application.
  • “policies” means the policies and other terms and conditions that we adopt from time to time, as amended, which are available on our website.
  • “position” means an exposure to an underlying instrument in relation to a product that you have traded. A position may be opened or closed out, whether by you or by us, by either buying or selling a product on the platform, in accordance with these terms.
  • “product” means:
    • Forex;
    • A CFD; or
    • Any other product we may offer from time to time.
  • “risk warning disclosure” means the risk warning disclosure, as amended, which is available on our website, and the risk warnings and statements set out in these terms which apply to retail clients.
  • “rolling daily position” means a position which does not automatically expire at the end of the relevant exchange business day, but which automatically rolls over to the next exchange business day. For the purposes of this definition “exchange business day” means a day on which the relevant market or underlying market is scheduled to be open.
  • “security information” means the username and password required to access your account.
  • “services” means our non-advisory, execution-only services as set out at clause 2.2 (our activities and services) in respect of the products.
  • “termination date” means the earlier of:
    • The date of the termination of a position in accordance with the terms of the position; or
    • The liquidation date determined by us in accordance with clause 8.2 (liquidation date).
  • “underlying market” means the market for a specific financial instrument on which our products are priced.
  • “website” means the information displayed on www.fincorefx.com (or any other replacement or supplementary site), as updated by us from time to time.
  • “we”, “our” or “us” means Fincore FX Investment Limited (including any successor or assignee).

Headings

Headings are for ease of reference only and do not form part of these terms.

Interpretation

References in these terms to a statute or statutory instrument or applicable regulations include a modification, amendment, extension, or re-enactment thereof, as in force from time to time. A reference in these terms to “document” will be construed to include an electronic document.

References in these terms to the singular will also include the plural. References to a person include a body corporate, unincorporated association, and partnership, natural person, firm, company, corporation, government, state, or agency of a state or an association or partnership (whether or not having separate legal personality) of two or more of the foregoing.

The use of the word “including”, “inclusive”, “includes” and any words that follow it will not be deemed to be exhaustive.