High Risk Investment Disclaimer:
Trading foreign exchange and stock markets carries a high level of risk, as well high level of returns. Level of leverage may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience and risk appetite. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore our clients have to assure Socrates Legacy, that they understand all the possible consequences of such risks, they know all the specifics rules and regulations, governing the use of investment products, including corporate events, resulting in the exchange of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
This Client Agreement (“Agreement”) is entered by and between Socrates Legacy, Ltd and the Client.
The Company is SOCRATES LEGACY, Ltd., whose registered office is located at Suite 305, Griffith Center, Beachmont Kingstown. St Vincent and the Grenadines. Business Registration Number: 26151 BC 2021
This Client Agreement, together with the Terms of Business, the Risk Disclosure, the Regulations for Non-Trading Operations, the Rules of the Cashback Program, the Rules of the Forum, the Phone Etiquette, the Terms and Conditions for Using the Signal Services.
The Operative Agreements, as amended from time to time, set out the terms upon which the Company shall deal with the Client in respect of Instruments.
The Operative Agreements shall govern all trading activity and non-trading operations of the Client with the Company and shall be read carefully by the Client. Amongst other things, they set out those matters which the Company is required to disclose to the Client under the applicable regulations.
The defined terms used in this Agreement are set out in Clause above (“Interpretation of Terms”). In relation to any Client transaction, the Company acts on a principal-to-principal basis and not as the agent on the Client’s behalf. This means that unless otherwise agreed, the company shall treat the Client as a client for all purposes and the Client shall be directly and fully responsible for performing the obligations under each transaction made by the Client. If the Client acts in relation to or on behalf of another person, whether or not the Client makes the identity of that person known to the Company, the Company shall not accept that person as an indirect client and shall accept no obligation to that person, unless otherwise specifically agreed.
The terms of the Operative Agreements shall be considered accepted unconditionally by the Client on the date on which the Client receives notice from the Company in accordance with Clause above and shall continue unless or until terminated by either party.
This Agreement is an initial service agreement that relates to a series of successive or separate operations including, without limitation, Transactions in Instruments.
The Client has no right to cancel the Agreement on the basis that it is a distance contract.
The Client’s Socrates Legacy, Ltd. account shall be activated by the Company giving notice to the Client as soon as the Company receives the Client Registration Form submitted by the Client and:
Subject to the Client’s obligations under the Operative Agreements being fulfilled and any other rights of the Company herein in the Operative Agreements, the Company shall offer the following Services to the Client:
When the Company deals with or on behalf of the Client, the Company, an associate, or some other person connected or affiliated with the Company, may have an interest, relationship, or arrangement that is material in relation to the transaction concerned or that conflicts with the Client’s interest. By way of example only, when the Company deals with a transaction for or on behalf of the Client the Company may be:
The Client shall be obliged to pay the Company the commissions, charges and other costs set out in the Trading Conditions Section Contracts Specifications. The Company shall display all current commissions, charges, and other costs on its Website.
The Company may vary commissions, charges, and other costs from time to time without prior Written Notice to the Client. All changes in commissions, charges, and other costs are displayed on the Company’s Website, and posting on the Website shall be considered due notice.
The Company may from time to time deal on the Client’s behalf with persons with whom The company has a soft commission agreement that permits the Company (or another member of the Company group) to receive goods or services in return for transacting investment business with such persons or others. It is the policy of the Company in relation to such agreements to ensure that such arrangements operate in the best interest of the Client as far as practicable, for example, because the arrangements allow access to information or other benefits which would not otherwise be available.
The Client accepts to be notified if the Company pays commissions/fees to any third party who introduced him or who acts on the Client’s behalf.
The Client agrees in the event that his/her remaining Trading Account Balance is up to 1 EUR/USD or the equivalent to EUR/USD per account and his/her Trading Account is closed or inactive for more than 90 calendar days, then the Company shall have the right to deduct this remaining Trading Account Balance and use it for charity purposes at its absolute discretion.
The Client undertakes to pay all stamp expenses relating to this Agreement and any documentation which may be required for the carrying out of the Transactions.
The Client shall be solely responsible for all filings, tax returns, and reports on any Transactions which should be made to any relevant authority, whether governmental or otherwise, and for payment of all taxes (including but not limited to any transfer or value-added taxes), arising out of or in connection with any Transaction.
In case the Client performs a withdrawal request without any trading activity from the last deposit made or if any other form of abuse is found the Company reserves the right to:
The Company is entitled, without prior notice to the Client, to make any currency conversions which the Company considers necessary or desirable for the purposes of complying with its obligations or exercising its rights under the Operative Agreements or any Transaction. Any such conversion shall be effected by the Company in such manner and at such rates as the Company may in its discretion determine, having regarded the prevailing rates for freely convertible currencies.
All foreign currency exchange risk arising from any Transaction or from the compliance by the Company with its obligations or the exercise by it of its rights under the Operative Agreements will be borne by the Client.
The Client may deposit funds to his/her Trading Account at any time. Funds deposits and withdrawals to/from the Trading Account shall be governed by the Regulations for Non-Trading Operations.
If the Client has an obligation to pay any amount to the Company which exceeds the Equity on his/her Trading Account, the Client shall pay the amount representing the excess within 2 working days of the obligation arising.
The Client acknowledges and agrees (without prejudice to any of the Company’s other rights under the Agreement to close out the Client’s Open Positions and exercise other default remedies against the Client) that where a sum is due and payable to the Company in accordance with the Agreement and sufficient cleared funds have not yet been credited to the Client’s Trading Account, the Company shall be entitled to treat the Customer as having failed to make a payment to the Company and to exercise its rights under the Agreement.
The Company shall update on a regular basis the available payment system on the deposit & withdrawal section. The availability of each payment system may differ depending on country of residence therefore the payment systems available shall be located in the Client’s Socrates Legacy, Ltd.
In the event, the Company provides advice, information, or recommendations to the Client, the Company shall not be responsible for the profitability of such advice, information, or recommendations. The Client acknowledges that the Company shall not, in the absence of its fraud, willful default, or gross negligence, be liable for any losses, costs, expenses, or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client including, without limitation, information relating to any Transactions. Subject to the right of the Company to void or close any Transaction in the specific circumstances set out the Operative Agreements, any Transaction following such inaccuracy or mistake shall nonetheless remain valid and binding in all respects on both the Company and the Client.
The Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from:
The Client shall indemnify the Company and keep the Company indemnified on demand in respect of all liabilities, costs, claims, demands and expenses of any nature whatsoever which the Company suffers or incurs as a direct or indirect result of any failure by the Client to perform any of the Client’s obligations under the Operative Agreements.
The Company shall in no circumstances be liable to the Client for any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs, expenses, or damages the Client may suffer in relation to the Operative Agreements unless otherwise agreed in the Terms of Business.
Any Written Notice given under this Agreement may be made as follows:
The Client acknowledges that the Company has the right to unilaterally modify the terms and conditions of the Operative Agreements at any time and at its sole discretion, giving to the Client Written Notice by email and/or by posting the modification on the Company Website.
Both parties to the Agreement can terminate this Agreement by giving such notice in writing to the other Party.
Upon termination of this Agreement, the Company shall be entitled without prior notice to the Client to cease to grant the Client access to the Trading Platform.
Upon termination of this Agreement, all amounts payable by the Client to the Company shall become immediately due and payable including (but without limitation):
The Company may use, store or otherwise process personal information provided by the Client in connection with the provision of the Services.
If the Client is an individual, the Company is obliged to supply the Client, on request, with a copy of personal data which it holds about the Client (if any), provided that the Client pays a fee.
By entering into this Agreement, the Client expressly consents to the Company transmitting the Client’s Information to any third parties which may require same in order to effectively implement the Services or effectively executing any operational function performed to the Company to Client (e.g. refunding the Client his money). Telephone conversations between the Client and the Company may be recorded.
Any recordings shall be and remain the sole property of the Company and will be accepted by the Client as conclusive evidence of the Instructions/Requests or conversations so recorded. The Client agrees that the Company may deliver copies of transcripts of such recordings to any court, regulatory, or government authority.
The Company has the right to suspend the Client’s Trading Account at any time for any good reason (including Abnormal Market Conditions) with or without Written Notice to the Client.
The Company reserves the right to suspend, close or unwind any Transaction which has resulted from any miss-configuration, technical error or if the Company suspects any fraud, manipulation, arbitrage, or other forms of deceitful or fraudulent activity in a Client’s account or multiple accounts with the Company or otherwise related or connected to any and/or all Transactions. Under such circumstances, the Company shall be entitled to withdraw any profits and charge any costs which it deems, in its sole discretion, to have been inappropriately gained and shall not be liable for the cancellation of any Transaction or profits or in the event of any damages or losses which may result from the suspension, closure or unwinding.
In the event that a situation arises that is not covered under the Operative Agreements, the Company will resolve the matter on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice.
No single or partial exercise of, or failure or delay in exercising any right, power or remedy (under these terms or at law) by the Company shall constitute a waiver by the Company of, or impair or preclude any exercise or further exercise of, that or any other right, power or remedy arising under the Operative Agreements or at law.
Any liability of the Client to the Company under the Operative Agreements may in whole or in part be released, compounded, compromised or postponed by the Company in its absolute discretion without affecting any rights in respect of that or any liability not so waived, released, compounded, compromised or postponed. A waiver by the Company of a breach of any of the terms of the Operative Agreements or of a default under these terms does not constitute a waiver of any other breach or default and shall not affect the other terms. A waiver by the Company of a breach of any of the terms of the Operative Agreements or default under these terms will not prevent the Company from subsequently requiring compliance with the waived obligation.
The rights and remedies provided to the Company under the Operative Agreements are cumulative and are not exclusive of any rights or remedies provided by law.
The Company may assign the benefit and burden of the Operative Agreements to a third party in whole or in part provided that such assignee agrees to abide by the terms of the Operative Agreements. Such assignment shall come into effect ten Business Days following the day the Client is deemed to have received notice of the assignment in accordance with the Terms of Business.
If any term of the Operative Agreements (or any part of any term) shall be held by a court of competent jurisdiction to be unenforceable for any reason then such term shall, to that extent, be deemed severable and not form part of this Agreement or the Terms of Business, but the enforceability of the remainder of Operative Agreements shall not be affected.
The Client may not assign, charge or otherwise transfer or purport to assign, charge or otherwise transfer the Client’s rights or obligations under the Operative Agreements without the prior written consent of the Company and any purported assignment, charge, or transfer in violation of this term shall be void.
The Client does not have the right to give third parties access passwords to the trading platform or Socrates Legacy, Ltd and agrees to keep them secure and confidential.
All actions related to the fulfillment of the Regulations and/or the usage of logins and passwords are considered executed by the Client. The Company does not bear responsibility for the unauthorized use of registration data by third parties.
The Client accepts and understands that the Company’s official language is the English language and the Client should always read and refer to the Main Website for all information and disclosures about the Company and its activities. Translation or information provided in languages other than English in the Company’s local websites is for informational purposes only and does not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.
All copyrights, trademarks, trade secrets, and other intellectual property rights and proprietary rights to the Website in its totality, its contents, and any related materials (“Company’s IP”) shall remain at all times the sole and exclusive property of the Company and the Client shall have no right or interest in the Company’s IP except for the right to access and use the Company’s IP as specified in the Agreement. The Client acknowledges. that the Company’s IP is confidential and has been developed by means of substantial investments of skill, time, effort, and money. The Client shall protect the confidentiality of the Company’s IP and not allow website access to any third party. The Client shall not publish, distribute, or otherwise make the Company liable to third parties, any information derived from or relating to the Company IP. The Client shall not copy, modify, decompile, reverse engineer, or make derivative works of the Company’s IP.
The Client shall hold full responsibility for the accuracy of payments executed. If the Company bank details change, the Client shall bear full responsibility for any payments carried out to the outdated bank details from the moment the new details are published in Socrates Legacy, Ltd.
This Agreement shall be governed by and construed in accordance with the laws of Saint Vincent and the Grenadines.
In the event of a dispute arising out of or relating to the Agreement, the Client irrevocably agrees that these parties to the Agreement shall first seek settlement of that dispute with the Company under the dispute resolution mechanism set out in a Clause above.
The Company is a member of the independent dispute resolution organization The Financial Commission (www.financialcommission.org) (hereinafter, “Commission”). All Clients are entitled to file a complaint with the Commission to resolve a dispute that arises if this complaint cannot be resolved through the Company's internal dispute resolution process.
With respect to any proceedings, the Client irrevocably:
The Client shall not proceed in any action that could probably allow the irregular or unauthorized access or use of the Trading Platform. The Client accepts and understands the Company reserves the right, at its discretion, to terminate or limit his access to the Trading Platform if it suspects that he/she allowed such use.
When using the Trading Platform, the Client shall not, whether by act or omission, do anything that shall or may violate the integrity of the Platform or cause it to malfunction.
The Client is permitted to store, display, analyze, modify, reformat and print the information made available through the Trading Platform. The Client is not permitted to publish, transmit, or otherwise reproduce that information, in whole or in part, in any format to any third party without the Company’s consent. The Client may not alter, obscure, or remove any copyright, trademark or any other notices that are provided on the Trading Platform.
The Client agrees to keep secret and not to disclose any Access Data to any person.
The Client agrees to notify the Company immediately if he knows or suspects that his Access Data has or may have been disclosed to any unauthorized person.
The Client agrees to co-operate with any investigation the Company may conduct into any misuse or suspected misuse of his Access Data.
The Client accepts that he shall be liable for all instructions and orders are given through and under his/her Access Data and any such instructions or orders received by us shall be considered as received from him/her.
The Client acknowledges that the Company bears no responsibility if unauthorized third persons have access to information, including electronic addresses, electronic communication and personal data, when the above are transmitted, using the internet or other network communication facilities, post, telephone, or any other electronic means.
In the event where the Company suspects any fraud, manipulation, swap-arbitrage or other forms of deceitful or fraudulent activity in a Client’s account or accounts with the Company or otherwise related or connected to the any and/or all Transactions, then the Company reserves the right to decide, at its sole discretion, to close all open positions in the Client’s Trading Account and deduct or add a penalty (equivalent to the swap and/or any profit amount) for all transactions currently and/or previously made in the account and/or annul all profits made as a result and decline from accepting any further requests from the Client to be exempted from any swaps and/or terminate all agreements with the Client.