Terms & Conditions
Please read these terms and conditions carefully. By accessing this site and any pages thereof, you agree to be bound by the terms and conditions below. If you do not agree to the terms and conditions below, do not access this site, or any pages thereof.
© 2020. LotsFX All Rights Reserved.
Copyright in the pages and in the screens displaying the pages, and in the information and material therein and in their arrangement, is owned by LotsFX unless otherwise indicated.
LotsFX and the LotsFX are trademarks and service marks of LotsFX and are used and/or registered throughout the world. LotsFX, Ltd and their subsidiaries also claim rights in certain other trademarks and service marks contained in these web pages.
Use of Information and Materials
The information and materials contained in these pages, and the terms, conditions, and descriptions that appear, are subject to change. Unauthorized use of LotsFX's web sites and systems including but not limited to unauthorized entry into LotsFX's systems, misuse of passwords, or misuse of any information posted on a site is strictly prohibited. Not all products and services are available in all geographic areas. Your eligibility for particular products and services is subject to final determination by LotsFX and/or its affiliates.
INFORMATION CONTAINED HEREIN has no regard to the specific investment objective, financial situation or particular needs of any specific recipient. The content herein is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any spot currency transactions, options, derivative products, futures, or other securities or related financial instruments. The content is based on information obtained from sources believed to be reliable but is not guaranteed as being accurate, nor is it a complete statement or summary of the markets of developments referred to in the content. This information should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinions expressed in this content are subject to change without notice and LotsFX is not under any obligation to update or keep current the information contained herein. Spot foreign currency transactions, options, derivative products and futures are not suitable for all investors, and trading in these instruments is considered risky. Past performance is not necessarily indicative of future results. LotsFX accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this content. No part of this content may be reproduced or distributed in any manner without the written permission of the provider via the Internet or otherwise. LotsFX accepts no liability whatsoever for the actions of third parties in this respect.
The information and materials contained in this site, including text, graphics, links or other items are provided “As Is”, “As Available”. LotsFX does not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for errors or omissions in this information and materials. No warranty of any kind, implied, expressed or statutory including but not limited to the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials.
Limitation of Liability
In no event will LotsFX be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this site or any linked site or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if LotsFX, or representatives thereof, are advised of the possibility of such damages, losses, or expenses.
All information submitted to LotsFX via this site shall be deemed and remain the property of LotsFX and LotsFX shall be free to use, for any purpose, any idea, concepts, know-how or techniques contained in information a visitor to this site provides LotsFX through this site. LotsFX shall not be subject to any obligations of confidentiality regarding submitted information except as agreed by the LotsFX entity having the direct customer relationship or as otherwise specifically agreed or required by law. Nothing contained herein shall be construed as limiting or reducing LotsFX's responsibilities and obligations to customers in accordance with the LotsFX Privacy Notice for Clients.
The client accepts as part of the conditions, that his account will remain operational until his cancellation request with a prior notice of thirty (30) days. Likewise the client accepts that in the case that there are no registered transactions of three (3) consecutive months on his account and /or , his account shows a balance below 100 USD (a hundred dollars), the account and its balance will be considered non-operational.
This site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.
The Client accepts as part of the condition, that any promotional bonus and/or credit granted to the Client shall be granted under the following conditions:
- Bonus may only be redeemed once all the conditions below are met accumulatively.
- Bonus may only be redeemed once during the promotional period per customer per live account.
- Customers may apply for only one LotsFX promotional offer during the promotion period.
- LotsFX, in its sole discretion, will determine if a customer's deposit and trading activity are entitled to retain a promotional bonus.
- Total refund shall not exceed the initial deposit amount.
- Withdrawal of bonus funds is contingent upon generating 5000 times the volume of the net deposits.
- Bonus may only be redeemed when registering with client’s real contact details.
- To claim a bonus, customers are kindly requested to send an email to our Promotions department.
In addition to the above, certain additional conditions may apply.
CUSTOMER TRADING AGREEMENT:
- General Provisions
- The Services may involve margined transactions, requiring Client to deposit cash to secure its obligations under this Agreement (“Security Margin”).
- Direct Relationship- Unless otherwise agreed in writing, LotsFX and Client each enter into this Agreement as principal and LotsFX will not accept an undisclosed/unapproved principal acting through Client. With regard to such a principal, Client agrees to provide LotsFX with its identity, personal information, and other information that LotsFX may seek.
- Information Services- From time to time LotsFX may provide the Client with access to various information and content via LotsFX Website or Trading Platform. Furthermore, LotsFX may provide the Client with links to third party websites that may include information. This information is supplied "as is" and is for guidance only. Use of such information is entirely at the Client’s own risk. To the fullest extent permitted by law, LotsFX make no representations or warranties of any kind, including but not limited to, the accuracy, quality or completeness of the information. LotsFX shall not be liable for any action taken by the Client as a result of the Client relying on any of this information or for any loss or damage suffered by the Client as a result of you using such information or any third party website linked to LotsFX. No information provided shall be deemed as assurance or guarantee on the results of any trade.
- No Investment Advice - Client hereby acknowledges that the Services do not include the provision of investment advice and/or the provision of personal recommendations in respect of one or more transactions relating to one or more instruments. Any information that may be provided aims merely to assist the Client’s investment decision making and does not constitute investment advice.
- No Physical Delivery of Underlying Instruments- the Client hereby acknowledge that entering into trades through the Trading Platform does not result in the physical delivery of currency or of the underlying instrument and that trades are cash adjusted or closed by the Client taking an offsetting position. For this reason, open trades will always be closed with LotsFX and the Client’s account will either be credited or will be debited according to the profit or loss made on the trade.
- Errors- Quotations provided by LotsFX, via third parties or otherwise, may be incorrect for any reason. Following a transaction involving such quotation errors, LotsFX in its discretion reserves the right to correct the affected account balance. Any dispute arising from such errors or corrections will be resolved on the basis of the fair market value of the relevant currency at the time of the error.
- Market Fluctuations- Client acknowledges that the market for currency is subject to sudden changes due news events and other announcements, acts of war or terrorism, power failures, strikes or civil commotions, business trends, political developments, fluctuations in other financial and commodity markets, and other factors beyond LotsFX's control. LotsFX may determine in its sole discretion that an emergency or exceptional market condition exists, in which case it reserves the right to impose trading limits or special terms, cancel or suspend any transaction, or close an account.
- Minimum Duration of Trade- Any transaction closed within 120 seconds from opening time shall be regarded as “Scalping”. LotsFX shall reserve the right to cancel such transactions without prior notice.
- Trading Indices- The Client hereby acknowledge that he is aware that in the case of Contract for Difference (CFD) trade, LotsFX shall open its trading within 5 minutes of the opening of the relevant market. LotsFX reserves the right not to accept any trade of such instrument during the first 5 minutes of the trading day. LotsFX reserves its right to cancel any trade, in its own discretion, of such instrument made during the first 5 minutes of the trading day.
- Risk Disclosure- the Client understands that the Services offered by LotsFX include trading products which involve substantial risk that is not suitable for everyone. The Client acknowledges that you fully understand the nature and risks of the Services and related trading products and the Client accepts that under no circumstances will any losses incurred as a result of the use of the Services be recoverable from LotsFX.
- Client Instructions and Order Execution
- Client may provide oral or written instructions to LotsFX to place an order. Written instructions may be given by letter, fax, the LotsFX website, cellular or other electronic means of communication. Oral instructions may be given in person or by telephone, but LotsFX may require written memorialization of such instruction. In case of an order received by the Company in any means other than through the electronic Trading Platform, the order will be transmitted by the company to the electronic Trading Platform and processed as if it was received through the electronic Trading Platform. The Client accepts the risk of misinterpretation and/or mistakes in the instructions and/or Orders sent through means other than the electronic Trading Platform, regardless of how they have been caused, including technical and/or mechanical damage. Once an instruction has been given, it cannot be rescinded, withdrawn or amended without LotsFX's express consent. LotsFX shall not be obligated to confirm instructions.
- LotsFX may request new instructions from Client, which shall provide them promptly.
- Client shall advise LotsFX of the identity of any persons authorized to give instructions. Such notice shall be in writing and shall set out the names and specimen signatures of the persons so authorized. Any such authority may be revoked by notice in writing by the Client but such revocation shall only be effective upon written confirmation by LotsFX
- The Client will be solely responsible for all orders, and for the accuracy of all information, transmitted via the Internet using Client’s name or personal identification code. Such transmission shall not give rise to a binding contract between LotsFX and Client until LotsFX accepts or acts upon it.
- If LotsFX does not receive instructions from Client to settle open positions by the close of a given business day, LotsFX is authorized (but not obligated) to rollover orders to the next business day.
- In case a rollover is made, the Client will be charged with a fixed fee of 0.015% of its trading account current exposure on 00:00 GMT regardless of any interest rates differences. LotsFX shall not be liable, and Client shall defend, indemnify, and hold harmless LotsFX, for any loss, expense, cost or liability, arising from error in instructions; instructions or other communications transmitted over the Internet; Client's failure to notify of revocation of authority; Client's failure to issue new instructions on LotsFX's request; remedial measures by LotsFX in its absolute discretion upon such failure; LotsFX's actions on instructions transmitted via the Internet using Client’s name or personal identification code or from an individual who appears mistakenly to LotsFX to be an authorized person; or LotsFX's refusal for any reason or no reason to act upon instructions.
- Withdrawal Instructions- The Client may withdraw all or part of the funds deposited with LotsFX upon the fulfillment of the following accumulative conditions:
- It has provided all compliance or any other required documents to LotsFX.
- It has completed and signed the designated LotsFX “Withdrawal Request Form”, providing all the necessary information stated in the form.
- It does not hold any open positions in the Client’s trading account with LotsFX.
- It had sent the completed “Withdrawal Request Form” to the LotsFX Client support via fax or e mail.
- LotsFX shall execute the Client’s withdrawal within 96 working hours once all the above conditions are met and upon approval of such by the LotsFX Back Office Department. The Client acknowledges that fund transfer times may vary according to its account type, issuing bank, intermediary bank, receiving bank, destination country or any other 3rd party involved in the transfer of funds. Withdrawal of funds may also be subject to restrictions imposed by or in connection with the receiving Bank. LotsFX shall not be liable for any fund transfer delay caused by such 3rd party.
- The Client acknowledges that the requested transfer of funds may be charged with additional transfer fees from 3rd parties to the transfer. The Client agrees to pay any incurred bank transfer fees when withdrawing funds from his sub-account to his designated bank account. LotsFX does not charge any withdrawal fees. In addition, the Client acknowledges that in case the received funds are converted to any other currency other than US Dollars, some exchange fees may apply. The Client is fully responsible for payments details, given to the Company and the Company accepts no responsibility for the Client‘s funds, if the Client‘s given details are wrong. It is also understood that the Company accepts no responsibility for any funds not deposited directly into Company‘s bank accounts.
- Should a withdrawal request had failed to meet the withdrawal accumulative conditions set out above; the withdrawal request will be cancelled within 30 days of its request and the Client may re request for the withdrawal. Such withdrawal re request shall be subject to the withdrawal general terms as set out above.
- The Client acknowledges that Anti Money Laundering Regulations does not allow the transfer of fund to any 3rd party other than the beneficial owner of the LotsFX trading account. In addition, LotsFX may require further documentation regarding the origin of funds and/or the beneficial owner in accordance with the Vanuatu Anti-Money Laundering & Counter-Terrorism Financing (as amended) [Dec 2015 update].
- Client Representations
- It has read and understood, and agrees to the terms and conditions of this Agreement
- It understands the high degree of risk associated with foreign currency trading subject to unknown market movements and other factors which can give rise to losses exceeding the Client’s original Security Margin, and that it can afford to lose the sums that it remits to LotsFX and incur additional losses;
- It does not have any legal disability with respect to, and is not subject to any law or regulation which prevents its performance of, this Agreement or any contract contemplated by this Agreement;
- It has obtained all necessary consents and has the authority to enter into this Agreement (and if the Client is a corporation or similar entity, it is properly empowered and has obtained necessary authority pursuant to its organizational charter); The Client is informed that for any orders placed with the Company for the financial instruments offered by the Company, the Company acts as an Agent and not as a Principal on the Client‘s behalf.
- Subject to this Agreement, all sums remitted to satisfy the Security Margin are and shall at all times remain free from any charge, lien, pledge or encumbrance;
- It is in compliance with all laws to which it is subject including, without limitation, all tax laws and regulations, exchange control requirements and registration requirements;
- The information provided by it to LotsFX is complete, accurate and not misleading;
- The foreign exchange market is unregulated and as such, it understands that will not benefit from any statutory or other compensation scheme in respect of the Services;
- Margin Requirements
- The Client shall remit to LotsFX such amounts of money as required by LotsFX, in a currency acceptable to LotsFX, to cover Client's Security Margin and any account debit balance.
- LotsFX will have no obligation to ensure Security Margin requirements have been satisfied by the Client before effecting an order and the Client’s payment obligations will not be diminished by any failure by LotsFX to enforce payment of outstanding Security Margins prior to entering into the transaction.
- LotsFX may use any money received from the Client in order to satisfy LotsFX obligations related to such Client to any third party and LotsFX shall not be obliged to account to the Client for any resulting income received by LotsFX.
- The Client shall promptly deliver any money payable by it under a third-party contract in accordance with both the terms of that contract and with any instructions given by LotsFX for the purpose of enabling LotsFX to perform its obligations under such contract.
- LotsFX may (but shall not be obligated to) convert into another currency at an exchange rate acceptable to LotsFX any Client monies held by it as LotsFX considers necessary or desirable to satisfy Client’s obligations and liabilities.
- If the Client fails to satisfy a required Security Margin or other sum due under this Agreement, LotsFX may close out any or all open positions without prior notice and apply any proceeds thereof to payment of any amounts due to LotsFX. LotsFX reserves the right to return funds deposited by Client at any time with or without reason.
- Spread rates, Margin and Leverage
- LotsFX reserves the right to modify Security Margin requirements in line with the size of the Client's deposit, size of transactions, market conditions characterized by particular volatility or lack of liquidity, or other factors determined by LotsFX. LotsFX reserves the right to offer different spread rates in accordance with the size of the Client's Security Margin and/or positions.
- Client is wholly responsible for verifying the activity of its accounts, as well its Security Margin requirement. Such requirements are available upon request or on the LotsFX website.
- The 1 (one) standard lot size is the measurement unit specified for each Financial Instrument traded in the Electronic Trading Platform. The Company reserves the right to change the Contract Specifications at any time depending on the market situation. The Client agrees to check the full specification of the Financial Instrument before placing any order. A possible choice of a maximum leverage rate, according always to the account type, ranges from 1:50 up to 1:300 depending on the type of the account and at the discretion of the Company, all provided that in no event shall the exposure in a single account exceed 30 Million US dollars. At opening of a Client trading account, the leverage rate is predetermined according to the type of account chosen by the Client. The Client may request for a lower leverage to be applied to their trading account by contacting the Company.
- The Company reserves the right to change the Client‘s trading account leverage at its discretion, either for a limited time period or on a permanent basis, by publication on the company website and/or written notice sent by mail.
- In case of absence of any trading activity for a period of at least three (3) months, the Company reserves the right to apply a fee of USD 100 per month thereafter, charged on a quarterly basis, in order to maintain the account assuming that the Client Account has the available funds. If the Client account is funded by less than 100 US dollars and has been inactive for a period of three (3) months, the Company reserves the right to charge a lower amount to cover administrative expenses and close down the account.
- Right of Pledge, Lien, Set-Off and Retention
- LotsFX shall, at any time and without prejudice to any other rights LotsFX may have, be entitled to combine or consolidate separate Client accounts, offset against each other the balances of any Client accounts (regardless of designation or currency of the account) or offset each balance individually. For any LotsFX claims arising from Services relating to Client, irrespective of the maturity dates of such claims or of the currencies in which they are denominated, LotsFX shall have a right of lien and pledge, and a right of retention, on all assets or security held in Client’s name or otherwise deposited with LotsFX, or any guarantee or indemnity given to or owed LotsFX by Client.
- Without prior notice to, or receipt of further authority from the Client, LotsFX shall have the right to close out all or any part of any position or account of Client, upon or at any time after the occurrence of any of the following events:
- Client fails to make any payment due under this Agreement promptly;
- Client fails to observe or perform in whole or in part any of the provisions of this Agreement or commits a breach of this Agreement;
- Client maintains parallel accounts for the purpose of arbitraging LotsFX promotions or policies, in LotsFX' sole discretion;
- Client dies, is declared absent or becomes of unsound mind;
- A bankruptcy petition is filed in respect of the Client or, if a partnership, in respect of one or more of its partners or, if a company, any steps are taken or proceedings initiated or protection sought under any applicable bankruptcy reorganization or insolvency law by it in respect of itself or against it including, without limitation, the taking of any steps for the appointment of a receiver, trustee, administrator or similar officer to be appointed over its undertaking or assets or any part of them;
- Client performs a credit card chargeback. In this case, any Client accounts will be frozen and all positions will be closed at the end of the trading day in a manner prescribed by LotsFX;
- LotsFX or the Client is requested to close out a position or any part of a position by any governmental or regulatory agency or authority;
- LotsFX considers it necessary for its own protection;
- The Client acknowledges LotsFX’ s right to close out all or any part of any open position of the Client held by LotsFX should a negative result of these positions lead to surpass the required Security Margin.
- Client who engages or suspected in what is deemed, illegitimate, unlawful, unethical system abuse, system arbitrage, quotation arbitrage or any other trade that may be deemed at one point or another as a violation of trading standards be it based on the amount of time the transaction was opened or by virtue of the fact that the trade was opened inadvertently at an incorrect price, time, or instrument.
- Force Majeure
- Acts beyond our Control. LotsFX are not liable for any loss or damage that the Client may suffer because of any: act of God; power cut; trade or labour dispute, act, failure or omission of any government or authority; obstruction or failure of telecommunication services; or any other delay or failure caused by a third party or otherwise outside of LotsFX control. In such an event, LotsFX reserve the right to cancel or suspend LotsFX services without incurring any liability.
- Failure of Equipment. LotsFX are not liable for the failure of any equipment or software howsoever caused, wherever located or administered, or whether under LotsFX direct control or not, that may prevent the operation of the Services, impede the placing, amending or cancellation of trades or that prevent the Client from being able to contact LotsFX or use the Trading Platform. the Client acknowledge that there may be delays in processing an order or instruction to amend or cancel a trade and that the Client remain liable for the original Trade until any relevant amendment or cancellation is received and processed.
- Tape recording of Conversation
- The Client acknowledges that LotsFX may record all telephone conversations between the Parties. Such recordings or transcripts thereof shall remain the property of LotsFX and Client consents to their use as evidence by LotsFX in any dispute or anticipated dispute between the Parties under this Agreement. Any such recordings or transcripts made by LotsFX may be destroyed by it in accordance with its usual practice.
- LotsFX reserve the right to make changes to the Platform, to the Website and to all guides and policies included on the Trading Platform or the Website, including this Agreement at any time. The Client will be subject to the guides, policies, conditions and agreements in force at the time that the Client access the Trading Platform, place an order and/or enter into a trade. It is therefore the Client responsibility to check the guides, policies and this Agreement from time to time to ensure that the Client agree with them, and the Client’s continued use of the Services will be deemed to be the Client acceptance of any changes LotsFX may make.
- This Agreement shall be interpreted in accordance with the law of Luxemburg. In the event of any disputes under this Agreement, the parties agree to appear before the exclusive jurisdiction of the existing courts in Luxemburg. The parties agree that the United Nations Convention on Contracts for the International Sale of Goods does not apply.
Deposit by means of Credit Card is limited to a minimum amount of 300 USD.
Withdrawal by means of Bank Transfer is limited to a minimum amount of 50 USD.
Closure of Position
While a Client has any open positions on the ex-dividend day for any of the Financial Instruments, the Company reserves the right to proceed with the closure of such positions at the last price of the previous trading day and open the equivalent volume of the underlying security at first available price after the market movement, on the ex-dividend day. In this case, the Company has to inform the Client by releasing an announcement on the Company’s website about the possibility of such actions not later than the closing of the trading session prior to the ex-dividend day.
The Company reserves the right, at its sole discretion; to disable the Client from opening any new positions on the ex-dividend day or prior to the ex-dividend day. In case of any unjustified profit, generated from ex- dividend activity, the Company reserves the right and without giving a prior notice to the client to re-adjust the profit (i.e. remove the profit).
Orders: Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop on Financial Instruments are executed at the declared by the Client price on the first current price touch. The Company reserves the right not to execute the Order, or to change or to revert the opening (closing) price of the transaction in case of the technical failure of the trading platform, reflected financial tools quotes feed, and also in case of other technical failures.
Under certain trading conditions it may be impossible to execute orders (Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, and Sell Stop) on any Financial Instrument at the declared price. In this case, the Company reserved the right, at its sole discretion, to execute the order or change the opening (closing) price of the transaction at a first available price.
Events that might cause the above mentioned actions on behalf of the Company are considered to be the following, (the list is NOT exhausting):
- At times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted.
- In the trading session start moments which has as a result, placing a Stop—Loss Order will not necessarily limit the client’s losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price.