LEGAL INFORMATION

1. Introduction

This agreement shall govern all Credit Tokens received by the Client in terms of the Client’s usage of QFX LTD services.

By signing this agreement, the Client confirms the following:

• 1.1. This document will be read with the Terms and Conditions and Risk Disclaimer, which the Client has understood and accepted when opening an account with QFX LTD.

• 1.2. Once additional Credit Tokens are received by the Client, it will effect the turnover requirement of the trading account, as outlined below.

• 1.3. The Credit Token funds provided to the Client shall be used to trade with only.

2. Definitions

3. Eligibility

• 3.1. Any Credit Token offer is valid only for the period stated in the Credit Token offer, unless stated otherwise.

• 3.2. QFX LTD can offer different Credit Token schemes and other trading benefits to some of its Clients from time-to-time.

• 3.3. QFX LTD, at its sole and exclusive discretion, can decide whether to grant a Credit Token to a certain Client or not.

• 3.4. The Client can choose to accept or decline any Credit Token or promotional offer presented to him/her by QFX LTD.

• 3.5. The Client will be deemed to have accepted the Credit Token Agreement when he/she explicitly indicates as such by returning a signed Credit Token Agreement to QFX LTD, or by digitally signing such Agreement by clicking “I Accept”.

• 3.6 The Client will be eligible to receive a Credit Token only in the currency that his/her trading account is denominated in – UST.

 

4. Withdrawals and fees

• 4.1. If the Client has accepted a Credit Token and achieved the “Required Number of Lots” (calculated in accordance with the formula set out below), the Client’s Withdrawal Balance is calculated as the sum of the Client’s deposits, the Client’s Credit Tokens and the Client’s net trading profits.

       Required Number of Lots = Credit Token Amount * 0.5

One lot shall be 100 000 (one hundred thousand) Units of trading currency

• 4.2. Trades under 5 min/ “scalping” – can be subjected to cancellation and the account can be suspended until the Risk committee decides further action.

• 4.3. If the Client has accepted a Credit Token equal to at least 50% of the Client’s deposit amount and has not achieved a trading volume equal to the Required Number of Lots divided by 4, any withdrawals that the Client makes will be subject to an additional withdrawal fee equal to 50% of the Client’s Withdrawal Amount. In the event of the Client wishing to make a withdrawal under these circumstances, the Client’s Credit Token and profit will become null and void and the Client’s losses, if any, will be deducted from the funds available for withdrawal.

• 4.4. Credit Tokens awarded by QFX LTD must be used to place trades. If a client has not achieved a turnover equivalent to the Required Number of Lots divided by 4 within 3 months of receiving a Credit Token, QFX LTD has the right to cancel the Credit Token and remove it from the Client’s account.

• 4.5. If the Client has accepted a Credit Token, has not achieved the Required Number of Lots and has made trading losses, the Client’s Withdrawal Balance is calculated as the sum of the Client’s deposits less the Client’s total trading losses. In the event of the Client wishing to make a withdrawal under these circumstances, the Client’s Credit Token will become null and void, and the Client’s total losses will be deducted from the funds available for withdrawal.

• 4.6. If the Client has accepted a Credit Token, has not achieved the Required Number of Lots and has made trading profits, the Client’s Withdrawal Balance is calculated as the sum of the Client’s deposits. In the event of the Client wishing to make a withdrawal under these circumstances, the Client’s Credit Token amount will become null and void, the Client’s profits will be forfeited, and only the Client’s deposited funds will be available for withdrawal.

• 4.7. With each Credit Token added with the Client’s permission to the Client’s account, there is an increase in that trading account’s required turnover, as per this agreement, before the Client is eligible for a withdrawal from the Client’s trading account.

• 4.8. Clients can only make withdrawals provided they have no positions open at the time of making a withdrawal request.

• 4.9. Examples of Trading Balance and Withdrawal Balance calculations are provided below:

 

5. Other

• 5.1. When the Client’s Withdrawal Balance has been depleted to 0 (i.e., when 100% of the Client’s Withdrawal Balance has been depleted), QFX LTD reserves the right to close all of the Client’s positions and cancel the Client’s Credit Tokens.

• 5.2. QFX LTD reserves the right to suspend, cancel or terminate a Credit Token or any aspect of a Credit Token, at any time and without any prior notice, where the Client has failed to have met his/her obligations or where QFX LTD suspects that any kind of abuse, manipulation or fraud of any sort has taken place. Under no circumstances shall QFX LTD be liable for any consequences of any suspension, cancelation or termination of a Credit Token.

• 5.3. QFX LTD reserves the right, at its sole discretion and without explanation, to close all open positions held by the Client when the Client’s account reaches a negative balance and/or the Client is trading solely using Company Credit Tokens.