Fortrade Robot Trading Customer Agreement
Effective Date: 01-05-2020
Last Updated: 01-05-2024
This Customer Agreement (“Agreement”) governs your use of the robot trading system (“Trading Bot”) provided by Fortrade Ltd (“the Company”). By registering for and using the Trading Bot, you acknowledge and agree to the following terms and conditions.
1. Acknowledgment of Risk
1.1 High-Risk Investment: Trading in financial instruments using automated trading systems such as the Trading Bot involves significant risks. You acknowledge that Forex, Contracts for Difference (CFDs), and other derivatives are high-risk products and are not suitable for all investors.
1.2 Volatility: Financial markets can be volatile, especially during periods of economic, political, or social instability. The Trading Bot may not perform optimally during high volatility, leading to potential financial losses.
1.3 No Guarantees: The Company does not guarantee the performance or success of the Trading Bot. There is no assurance that the use of the Trading Bot will result in profits. Past performance is not indicative of future results.
2. Automated Trading Execution
2.1 Automated Orders: By using the Trading Bot, you authorize the system to execute trades on your behalf automatically, based on the predefined parameters set by the algorithm. You understand that these trades are executed without manual intervention.
2.2 Market Conditions: The Trading Bot may not work effectively in certain market conditions, such as during high volatility or low liquidity periods, which can cause slippage, delays in order execution, or widened spreads.
3. Customer Responsibility
3.1 Personal Review: It is your responsibility to monitor the performance of the Trading Bot regularly. You are responsible for making any necessary adjustments to your trading parameters, and you should remain informed about market conditions that may affect your investments.
3.2 Understanding of Risks: You affirm that you understand the risks involved in using an automated trading system, including the possibility of loss due to market conditions, execution failures, or unexpected system behavior.
4. Performance Disclaimer
4.1 No Performance Guarantees: The Company provides the Trading Bot on an “as is” basis. The Company makes no representations or warranties regarding the effectiveness or profitability of the Trading Bot.
4.2 Potential for Losses: You may incur substantial losses when using the Trading Bot, particularly in fast-moving or highly volatile markets. You acknowledge that the Trading Bot may fail to account for sudden changes in market conditions.
5. Suspension of Trading
5.1 High Volatility Conditions: The Company reserves the right to suspend or limit the Trading Bot’s activity in conditions of extreme market volatility or when liquidity is limited, to protect the client and the system from unintended risks.
5.2 System Malfunctions: In the event of a technical failure, system malfunction, or connectivity issue, the Company may suspend the Trading Bot until the issue is resolved. You acknowledge that the Company is not liable for losses incurred during such interruptions.
6. Termination of Use
6.1 Right to Terminate: The Company reserves the right to terminate or suspend your access to the Trading Bot at its sole discretion, with or without cause, including but not limited to breaches of this Agreement or significant account losses.
6.2 Voluntary Termination: You may choose to stop using the Trading Bot at any time. You are responsible for closing any open positions and deactivating the bot to prevent further trades.
7. Limitation of Liability
7.1 No Liability for Losses: The Company will not be liable for any losses, damages, or liabilities arising directly or indirectly from your use of the Trading Bot, including but not limited to losses incurred during periods of high volatility, technical failures, or incorrect execution.
7.2 Market Risks: You acknowledge that the Company is not responsible for any losses caused by market risks, including price fluctuations, slippage, or adverse market conditions that the Trading Bot may encounter.
8. Fees and Charges
8.1 Service Fees: Fees may apply for the use of the Trading Bot. The Company will notify you of any applicable charges in advance. All fees are non-refundable.
8.2 Additional Costs: You are responsible for any additional costs associated with trading, including but not limited to spreads, commissions, or overnight financing fees.
9. Regulatory Compliance
9.1 Legal Use: You agree to comply with all applicable laws and regulations when using the Trading Bot, including anti-money laundering (AML) laws, know-your-customer (KYC) requirements, and trading regulations as outlined by the Financial Conduct Authority (FCA).
9.2 Regulatory Changes: The Company may amend this Agreement at any time to comply with changes in laws or regulatory requirements. You will be notified of any changes, and continued use of the Trading Bot constitutes acceptance of the updated Agreement.
10. Indemnification
You agree to indemnify and hold the Company, its affiliates, employees, and agents harmless from any claims, liabilities, losses, damages, costs, or expenses arising from your use of the Trading Bot, including but not limited to any violations of this Agreement or regulatory requirements.
11. Governing Law and Jurisdiction
This Agreement is governed by and construed in accordance with the laws of the United Kingdom. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of England and Wales.
By using the Trading Bot, you confirm that you have read, understood, and agreed to this Customer Agreement and that you are aware of the risks involved in automated trading. If you have any questions, please contact [support@example.com].
Fortrade Ltd
FCA FRN No.: 587257
Important Disclaimers:
- Market Volatility: Please note that the Trading Bot may not function optimally during high volatility periods, leading to potential losses.
- Performance Risks: Automated trading involves risks, and there is no guarantee that you will achieve positive returns. Please invest carefully.
This agreement ensures that clients are fully aware of the risks involved in using the trading bot, particularly in volatile markets, and it limits the company’s liability for potential trading losses.