Legal

[TS-TERMS-AND-CONDITIONS][TS-PARTNERS-TERMS-AND-CONDITIONS]

Important – you should read these terms and conditions carefully before completing registration. WE DO NOT ACCEPT WESTERN UNION OR MONEYGRAM OUR OFFICIAL EMAILS ARE: [email protected]

Reading this page should not be in place of reading the full terms and conditions of the company as they appear at https://coiken.com/about-us/legal/terms-and-conditions/

Summary Of Important Terms and Conditions

We believe that transparency is needed to create trust, and so we have made this page with the terms and conditions that we believe are most relevant. Should you have any questions regarding any of the conditions, please do not hesitate to contact us at [email protected]

KYC Documents – Account Verification

1. Every customer must send the required KYC documents as they appear at https://coiken.com/about-us/legal/kyc-policy-know-your-customer/
2. After every deposit a client makes to his \ her account, the account will be automatically suspended until the account will be fully verified with the KYC documents.
3. Except for the initial deposit, after every deposit, the customer will have to sign a Declaration Of Deposit form (DOD) by hand or by e-signature (virtual signature). Until completing and signing the mentioned form, the account will be suspended and the customer will not have the option to trade, withdraw, or deposit funds.

Withdrawal Of Funds

1. Every withdrawal request must be done through the trading account and not by mail.
2. A customer may, at any time, withdraw any liquid funds (withdrawable balance) they have in the account – unless the mentioned funds are attached to the bonus t&c (to read more, please visit https://coiken.com/about-us/legal/bonus-terms-and-conditions/).
3. To prevent money laundering, a withdrawal will be sent only the same way the funds were deposited. If a deposit was made by a card, the funds will be sent only to the same card. If the deposit was made by a bank wire transfer, the funds will be sent only to the original bank account.
4. A client must approve every withdrawal telephonically with a representative of the company. If the client cannot approve it telephonically within 3 business days – the withdrawal will be cancelled and the client will have to open a new withdrawal request.
5. From the moment the withdrawal is processed it normally takes 4-7 business days to appear in the client’s bank account \ bank card.

Withdrawal fees:

Credit card – 0.3%, minimum fee $20, maximum fee $500

Wire Transfer – 0.3%, minimum fee $50, maximum fee $750

Minimum withdrawal amount is 100 USD \ EUR \ GBP

Risk

1. Trading on leveraged CFD’s may be risky and not suitable for everyone. Do not trade with more money you can afford to lose. The leverage can work against you just as much as it can go in your favour.
2. coiken and its representatives are not financial advisors. Everything said by the company’s representatives is a recommendation and is not a guarantee. When in doubt you should always seek advice.
3. The client is fully responsible for the account’s gain or loss.

You are advised to read the full Risk Disclosure: https://coiken.com/about-us/legal/risk-disclosure/

Phone Call Recording

coiken records, at its sole discretion, telephone calls made from and to its offices. You hereby agree that telephone calls made, either by you contacting coiken, or when being contacted by coiken, may be recorded by the company.

Dormant Account – Inactivity Fee If there hasn’t been any trade executed in your account within 60 days, your account will be subjected to a dormant account administrative fee of 20 (USD, GBP, EUR). The fees will be deducted from your account balance on the date of the 91st day and monthly onwards until you resume your account activity, or until the balance reaches zero.

What is Bonus Money?

Bonus Money is money that is given to a trader as a promotion to their account’s equity. With the bonus, traders will be able to open trades with higher amounts than what they have deposited themselves, hence they can earn more money. Please note that in case that a position goes against you, you can also lose money faster. Every bonus amount comes with a “target”. When a trader reaches the target, the bonus goes to the account balance and becomes cash liquid. Before reaching the mentioned target – the profits and the bonus itself are not cash liquid. However, the trader’s deposits are always cash liquid.

What is the target?

The target is one trader point for every $10 bonus. For example, for $1,000 the target will be 100 trader points. Once the trader reaches that target – the $1,000 will be automatically transferred to the account balance and will become cash liquid.

What are trader points?

Traders points are trading volume indicators. They are calculated per traded position amount and are accumulated each time you close CFD positions. CFDs calculation method: For example, you bought 100,000 EURUSD, the value of the position is converted to your account nominated currency. Therefore, if your account currency is USD, the value of the position will be converted to USD using the real-time EURUSD conversion rate. Let’s assume the EURUSD conversion rate is 1.07 therefore 100,000 EUR * 1.0700 = 107,000 USD. The USD ($) value of the position is now multiplied by 0.001%, which eventually entitles you with 1.07 trader points (107,000 USD * 0.001% = 1.07 trader points). Please note, the example above describes a case where your account currency is USD.

Traders must sign the bonus agreement before they receive it. Please ask your account manager or [email protected]

Privacy Policy

coiken does its utmost to ensure the privacy, confidentiality and security of its clients are preserved both throughout their interaction with the company and afterwards, to the fullest extent achievable by the company.

1. When clients register with coiken they acknowledge their willingness to share with the company certain private information which we use for the purpose of confirming the client’s identity and ensuring the security of their deposits and trading account. This information is collected in line with our stringent verification procedures which are used to deter international money laundering operations and to ensure the security and safety of our customer’s trading activity throughout.
2. Our clients undertake to supply us with true, updated and accurate information about their identity. Furthermore they are required to state categorically that they are registering and trading on their own behalf and are not seeking at any time to act any manner which could be considered fraudulent nor are they seeking to impersonate any other individuals for any purposes whatsoever.
3. coiken data collection procedures include the collection of client’s freely disclosed information as shared with the company, in addition to the placement of cookies for the purposes of gathering data about the manner in which client’s interact with the coiken website. These tools for gathering client’s information are employed for the purpose of ensuring the customer’s own security and all data collected by the company is shared only with individuals within the company who are involved with the verification of customer account information for the express purpose of ensuring the customer’s confidentiality and security.
4. coiken will never disclose any private or otherwise confidential information in regards to our clients and former clients to third parties without the express, written consent of our clients, except in such specific cases in which disclosure is a requirement under law, or is otherwise necessary in order to perform verification analysis on the client’s identity for the purposes of safeguarding their account and securing their personal information.
5. By registering with coiken and through the voluntary interaction they undertake with coiken products and services the clients confirm and agree that they consent to the use of all or part of the information they provide concerning their coiken trading account, the transactions they undertake through it and the interactions which they perform with the company on behalf of the company. All interactions the customer undertakes with the company will be stored by the company for the purposes of record and as such may be employed by the company in such cases that disputes arise between clients and .
6. coiken does its utmost to ensure the confidentiality of its clients personal information including the implementation of data protection procedures designed to ensure client confidentiality. coiken ensures that its data protection policy is regularly updated in order to ensure that client’s confidential information is continually safeguarded.
7. From time to time coiken may contact clients whether by phone or email for the purpose of offering them further information about coiken financial market trading. In addition the company may, on occasion, seek to contact clients, whether by phone or by email, for the purpose of informing them of unique promotional offerings provided by coiken for the client. Clients consent to the receipt of such contact when they consent to our terms and conditions of use when registering with coiken. Any person wishing to opt out of further contact with coiken at anytime whatsoever is entitled to do so, simply by contacting the company whether by phone or email and requesting that no further contact on behalf of the company will be made.
8. coiken doesn’t sell or share private information.

I. Purpose

The purpose of this Policy is to specify the procedures put in place by coiken, hereafter the “Company”, for identifying and responsibly managing and controlling and, where necessary, disclosing the conflicts of interests arising in relation to its business and to reduce the risk of client disadvantage and reduce the risk of legal liability, regulatory censure or damage to Company’s commercial interests and reputation and to ensure that it complies with legislative requirements and the departmental and general procedures which are set by its Internal Procedures Manual.

II. Policy

All employees of the Company must on commencement of their employment read and fully understand the Policy. All employees of the Company are obliged to register their acceptance of having read and understood the Policy in a register, which is to be filed and managed by the Chief Executive Officer of the Company. Any employee that suspects any conflict of interest must immediately inform the Chief Executive Officer who will determine if any conflict does exist or has the potential to arise and will state the reasoning for their findings in a file kept in storage for referral to the Commission should such need arise.

The Company and its employees who are involved in investment research must not:

• act as a result of an inducement;
• promise issuers favourable research coverage.

If any draft investment reports contain recommendations or target prices, the employees must not review the research material, other than for verifying its compliance with the legal obligations.

Particularly, the Company defines a conflict of interest as any situation where either the Company or an individual is in position to exploit a professional or official capacity in some way for either corporate or personal benefit. Situations where conflicts of interest can occur include the following:

• The Company or a relevant person, or a person directly or indirectly linked by control to the Company, is likely to make a financial gain or avoid a financial loss, at the expense of the client.
• The Company or a relevant person, or a person directly or indirectly linked by control to the Company, has an interest in the outcome of a service provided to the client, or of the transaction carried out on behalf of the client, which is distinct from the client’s interest in that outcome.
• The Company or a relevant person, or a person directly or indirectly linked by control to the Company, has a financial or other incentive to favour the interest of another client or group of clients over the interests of the client.
• The Company or a relevant person, or a person directly or indirectly linked by control to the Company, carries on the same business as the client.
• The Company or a relevant person, or a person directly or indirectly linked by control to the Company, receives or will receive from a person other than the client an inducement in relation to a service provided to the client, in the form of money, goods or services, other than the standard commission or fee for that service.

Relevant person in relation to the Company means any of the following individuals:

1. a member of the board of directors, partner or equivalent, manager or tied agent of the Company;
2. a member of the board of directors, partner or equivalent, or manager of any tied agent of the Company;
3. an employee of the Company or of a tied agent of the Company, as well as any other natural person whose services are placed at the disposal and under the control of the Company or a tied agent of the Company who is involved in the provision by the Company of investment services or/and the performance of investment activities;
4. a natural person who is directly involved in the provision of services to the Company or to its tied agent under an outsourcing arrangement for the purpose of the provision by the Company of investment services or/and the performance of investment activities.

The affected Parties if conflict of interest arises can be the Company, its employees or its clients.  More specifically, a conflict of interest may arise, between the following parties:

1. Between the client and the Company.
2. Between two clients of the Company.
3. Between the Company and its employees.
4. Between a client of the Company and an employee/manager of the Company.
5. Between Company’s Departments.

Conflicts of interest can occur in several situations, for example:

• The Company is likely to sustain an overall financial loss or avoid a financial loss, by executing a client’s specific order.
• The Company is likely to sustain an overall financial gain by not executing a client’s specific order.
• The market moves to a direction of a point/timing when by executing client’s order will result in a financial loss for the Company.
• The Company’s hedging policy is affected negatively by the market movement and as a result client’s orders are rejected to prevent a financial loss for the Company.

A) Personal Transactions of Employees

All employees of the Company that are involved in research or other investment activities must be aware of the restrictions on personal transactions detailed below. This section also includes personal transactions which may be performed by persons who are employed by companies which perform an outsourced activity to the Company, if any. If any prohibited personal transactions are entered, the Company must be notified promptly.

Employees of the Company that are involved in the provision of investment services and the dissemination of investment research or other activities must not enter into the personal transactions that which will cause the following:

• misuse or cause improper disclosure of confidential information;
• enter in a transaction that is likely to conflict with any obligations of the Company, or the employee, that are stated under the law.

Where the employee has encountered information, which is not publicly available to clients or cannot readily be inferred from information that is so available, the employees must not act or undertake personal transactions or trade, other than as market makers acting in good faith and in the ordinary course of market making, or in the execution of an unsolicited client order, on behalf of any other person, including the Company.

The employees must not disclose any opinion other than in the normal course of business, if the person who is given the opinion is likely to enter into a transaction which is contrary to the above. The employee also should not provide an advice or provide to anyone any information, other than in the proper course of his/her employment, especially if it is clear that the person who is receiving such information will advise another party who might acquire or dispose of financial instruments to which that information relates.

Any client’s orders that have been relayed to any employees of the Company must not be disclosed to another party. An employee of the Company who has knowledge of a potential client’s order must not carry out a personal transaction that is the same as the client order, if this will cause a conflict of interest.

B) Reporting Conflicts of Interest

In the case of identification of a possible conflict of interest, a staff member must refer it initially to his immediate supervisor to assist in the assessment of a material risk of damage and send a completed Conflict of Interest Notification Form together with full details to allow regulatory scrutiny, of:

• corrective and preventive actions;
• how these actions were considered appropriate;
• any conditions imposed; and
• whether there are still ongoing conflicts, how these are being managed and advised to the client;

to the Head of Compliance for inclusion within the reports reviewed by the Board of Directors.

C) Management of Conflicts of Interest

a. Independence

The following measures have been adopted by the Company for ensuring the requisite degree of independence:

• Measures to prevent or control the exchange of information between relevant persons engaged in activities involving a risk of a conflict of interest (i.e. by establishing a Chinese wall)
• Separate supervision of relevant persons whose principal functions involve carrying out activities on behalf of, or providing services to, clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the Company. The Company’s department whose interests may conflict with clients are:
  • Dealing Room
• Removal of any direct link between the remuneration of relevant persons principally engaged with one activity and the remuneration of, or revenues generated by, different relevant persons principally engaged in another activity, where a conflict of interest may arise in relation to those activities:
  • Dealing room employees do not relate their remuneration with clients’ performance
  • Measures to prevent or limit any person from exercising inappropriate influence over the way in which a relevant person carries out investment or ancillary services or activities. Additionally, the person who decides or influences an individual’s bonus may exert undue influence over that individual’s integrity of judgment
  • Measures to prevent or control the simultaneous or sequential involvement of a relevant person in separate investment or ancillary services or activities such as reception and transmission of clients’ orders and tasks such as portfolio decision making and calculating performance.

b. Chinese Walls

Chinese walls are essentially information barriers which are used to prevent inside or highly confidential information possessed by one part of the business from being inappropriately passed to, or obtained by, another part of the business.

When a Chinese wall is used as a way of managing conflicts of interests, individuals on the other side of the wall will not be regarded as being in possession of knowledge denied to them as a result of the Chinese wall. For example, where arrangements have been put in place to ensure that entities belonging to the same group operate independently of each other with effective Chinese walls, the entities shall not be deemed to have knowledge of each other for conflicts of interest purposes.

c. Disclosure of conflict of interest

When the measures taken by the Company to manage conflicts of interest are not sufficient to ensure, with reasonable confidence that risks of damage to clients’ interest will be prevented, the Company proceeds with the disclosure of conflicts of interest to the client. Prior to carry out a transaction or provide an investment or an ancillary service to a client, the Company must disclose any actual or potential conflict of interest to the client.  The disclosure will be made in sufficient time and in a durable mean and shall include sufficient detail, considering the nature of the client, to enable him to take an informed decision with respect to the investment or ancillary service in the context of which the conflict of interest arises.

Clients will be given the opportunity to decide if they want to continue their relationship with us with no unreasonable obstacles.

• Marketing Communication

The Company shall ensure that any such recommendation contains a clear and prominent statement that (or, in the case of an oral recommendation, to the effect that) it has been prepared in accordance with legal requirements designed to promote the independence of investment research and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

• Record Keeping

The Company keeps and regularly updates a record of the kinds of investment and ancillary service or investment activity carried out by or on behalf of the Company in which a conflict of interest entailing a material risk of damage to the interests of one or more clients has arisen or, in the case of an ongoing service or activity, may arise. The following documentation shall be maintained for a minimum period of five years:

• this policy, any functional variations if applicable;
• the Conflicts Log and the Conflicts Identification and Management Map;
• rules, procedures and processes;
• training material and training records;
• Conflicts of Interest Notification Forms;
• details of any review work carried out (including any decisions made on conflicts management); and
• any other documentation used to demonstrate the management of conflicts of interest.

• Responsibilities

The Company’s Chief Executive Officer is responsible for clearly allocating responsibility and delegating authority to accountable individuals to ensure that those involved are aware of their involvement and that the Conflict Officer has a sufficient level of authority and independence to carry out their responsibilities effectively.

The Company’s Senior Management is required to:

• fully engage in the implementation of policies, procedures and arrangements for the identification, management and ongoing monitoring of conflicts of interest;
• adopt a holistic view to ensure the identification of potential and emerging conflicts within and across business lines and to ensure that informed judgments are made with respect to materiality;
• raise awareness and ensure compliance of relevant individuals by ensuring: regular training (including to contractors and third-party service providers’ staff) both at induction and in the form of refresher training; the clear communication of policies, procedures and expectations; that awareness of conflicts procedures forms part of the performance review/appraisal process, and that the best practice is shared throughout the Company;
• sponsor robust systems and controls and effective regular reviews to ensure that strategies and controls used to manage and mitigate risks remain appropriate and effective and that appropriate warnings and disclosures are issued to clients where necessary;
• utilize management information to remain sufficiently up-to-date and informed; and
• support an independent review of the processes and procedures in place.

Individuals are required to identify new conflicts of interest arising out of the activities/services that they perform and engage in the process to notify line management upon identifying any potential conflict.

The Company’s Conflicts Officer is the Head of Compliance who is responsible for the day to day management of the implementation of this policy. Particularly, he, or his delegate, is responsible for:

• establishing the policy in relation to conflicts of interest;
• providing training oversight and aid;
• monitoring compliance with arrangements;
• the oversight of conflicts management;
• maintaining records in relation to conflicts of interest;
• reviewing and challenging the Conflicts Identification and Management Map; and
• providing appropriate internal reporting to the Board of Directors.

d. Conflicts Deadlock

Where line management cannot resolve a conflict to the satisfaction of all Parties, the Compliance Head will, as the Approved Person with responsibility for Compliance and Risk, have the final say.

1. Introduction.

The Company classifies a complaint as any grievance/dissatisfaction involving the activities of those persons under the control of the Company (Employees), relating to the provision by the Company of the investment and/or ancillary services it provides.

The goal of the Company is to deliver a reliable, high-quality and satisfactory response to the complainant.

2. Definitions:

A “Complaint” is a statement of dissatisfaction formally addressed by the Client to the Company regarding the provision of investment and/or ancillary services provided by the Company.

A “Complainant” is any client which is eligible for filing a complaint.

2.1 Scope:

The procedure sets out the method for the submission of complaints with the Company when dealing with complaints received by the clients. The purpose of the Complaint Handling Policy (hereafter “CHP”) outlines the procedures that are implemented when handling client complaints.

3. Procedure for Handling Client Complaints

3.1 How to file a Complaint:

The Complainant/Client can file a complaint to the Company by sending a written complaint to the following email address: [email protected]. All complaints must be in writing and shall be addressed, in the first instance, to the Customer Support Department. If the client receives a response which does not satisfy him, he has the right to ask Support to escalate the complaint to the Compliance Department. All clients shall provide the following details when submitting their complaints via email:

• E-mail to [email protected].
• The client’s name and surname.
• The clients trading account number.
• The identification numbers of the relevant orders and positions (if applicable).
• The date that the issue arose and the description of the issue.
• The capital and the value of the financial assets which belong to the client.
• Reference of any correspondent exchanged between the Company and the client.

3.2 Handling Complaints:

• Upon receipt of the complaint, the client shall receive a formal written acknowledgement within five (5) business days by the Support Department. The client will also receive an email advising him that the complaint has been received and it is under review.
• The complaint will be reviewed and if deemed necessary it will be escalated to the Compliance Department, where the complaint will be addressed to be further verified and investigated.
• The events leading to the complaint or grievance and all the information provided by the client, will be examined and assessed for the purpose of reaching a fair outcome for both sides.
• The client will be constantly informed by the Company regarding the handling process of his/her complaint. Particularly, about the findings and proposed solutions that shall be clearly explained in written form to the client within the agreed time frame.
• If an issue cannot be resolved within the specified period due to the complicated nature of the complaint or if further clarification of circumstances is required, the complainant shall be notified about the new timeframes of response for the complaint. This shall not exceed a 3 months’ time frame. In the event that the Company is unable to respond within two months, it informs the complainant about the reasons for the delay and indicates the period of time within it is possible to complete the investigation. This time period cannot exceed three months from the submission date of the complaint.
• In case the Support Department is unable to respond within two months, it informs the complainant of the reasons for the delay and indicates the period of time within it is possible to complete the investigation. This time period cannot exceed three months from the submission date of the complaint.

3.3 Rejecting Complaints

• The Company has the right to refrain from reviewing a complaint when:
  • The complaint does not comply significantly with the format requirements as outlined in Section 3.1 – How to file a complaint
  • It does not enable to identify the applicant’s identity
  • It includes offensive language directed either to the Company or towards an employee of the Company.

In such case, the client shall be notified with the reasoning for why the complaint was not taken into the review process.

4. Record Keeping

The Company shall maintain all complaints for a minimum period of five years, by the Compliance Department.

5. Review of the CHP

This policy will be reviewed and/or amended annually or as needed when considered necessary by the board of directors or when changes or amendments to operating requirements are imminent.

I. Purpose

The purpose of this policy is to establish effective arrangements for obtaining, when coiken, hereafter the “Company”, is executing clients’ orders, the best possible result for its clients.

II. Policy

Dealing Room is the relevant department to which the order execution policy mainly applies. Senior Management reviews the policy on an annual basis and/or whenever a material change occurs that impacts the Company’s ability to continue offering best execution of its clients’ orders using the Company’s trading platform.

The Company proceeded to the establishment and maintenance of an Order Execution Policy, to ensure compliance with the obligation to execute orders on terms most favorable to the clients and to achieve the best possible results for its clients, taking into consideration its clients’ ability, needs and trading policies, where applicable and possible.

The policy outlines the process that the Company follows in executing trades, and assure taking all reasonable steps to consistently obtain the best possible result for clients through its order execution policy. It is noted however that when executing an order following a specific client instruction, the Company will execute the order in line with those instructions and will consider that it has discharged its best execution obligations.

Best Execution Criteria

The Company will consider the best execution criteria for determining the relative importance of the execution factors:

• The characteristics of the client;
• The characteristics of the client order;
• The characteristics of the financial instruments that are the subject of that order;
• The characteristics of the execution venues to which that order can be directed.

The best possible result will be determined in terms of the total consideration, representing the price of the contract and the cost related to execution. The other execution factors of speed, likelihood of execution size, nature or any other relevant consideration will, in most case, be secondary to price and cost considerations, unless they would deliver the best possible result for the client in terms of total consideration.

Execution Factors

The Company, when managing client’s orders, considers various execution factors, provided that there are no specific instructions from the client to the Company about the way of execution of the orders. The execution factors include:

• Price
• Speed and likelihood of execution
• Costs or commissions
• Size and nature of the order
• Market conditions and variations
• Execution capability
• Any other direct consideration relevant to the execution of the order

Slippage

You are warned that Slippage may occur when trading in Financial Instruments. This is the situation when at the time that an Order is presented for execution, the specific price showed to the Client may not be available; therefore, the Order will be executed close to or a few pips away from the Client’s requested price. So, Slippage is the difference between the expected price of an Order, and the price the Order is physically executed at. If the execution price is better than the price requested by the Client, this is referred to as “positive slippage”. If the executed price is worse than the price requested by the Client, this is referred to as “negative slippage”. Please be advised that Slippage is a normal element when trading in financial instruments. Slippage more often occurs during periods of illiquidity or higher volatility (for example due to news announcements, economic events and market openings and other factors) making an Order at a specific price impossible to execute. your Orders may not be executed at declared prices. Slippage may appear in all types of accounts we offer. It is noted that Slippage can occur also during Stop loss orders, Limit orders, and other types of Orders. We do not guarantee the execution of your Pending Orders at the price specified. However, we confirm that your Order will be executed at the next best available market price from the price you have specified under your pending Order.

Specific Instructions

In circumstances where the client provides the Company with a specific instruction as to how to execute an order and the Company has accepted this instruction, then the Company will execute the order in accordance with that specific instruction.

Nevertheless, if the client provides a specific instruction to carry out an order, then by executing that order the Company will be complying with the Company’s duty to provide the client with best execution. This may result in being unable to follow the Company’s order execution policy for that specific order. In such event the Company will proceed with the client’s instructions. A relevant warning as to the non-execution of the order based on the Order Execution Policy will be sent to the client.

Given the nature of risk and volatility of financial markets, the client may want to consider using different types of orders to limit risk and manage investment strategies. (It should be noted that the following descriptions of order types may apply only to some and not all types of financial instruments).

Types of orders

Given the nature of risk and volatility of financial markets, the client may want to consider using different types of orders to limit risk and manage investment strategies. (It should be noted that the following descriptions of order types may apply only to some and not all types of financial instruments).

Market order: With a market order the client instructs a financial institution to execute a trade of a certain size as quickly as possible at the current market price. Financial institutions are required to execute market orders without regard to price changes. Therefore, if the market price moves during the time it takes to fill a client’s order, the order will most likely be executed at a price different from the price when the order was entered. Execution price can be either improved, worsened or unchanged.

At requested/Limit order: With a at requested order/limit order, the client sets the maximum purchase price, or minimum sale price, at which the trade is to be executed. As a limit order, may be entered away from the current market price, a limit order to buy below the current market price or to sell above the current market price, it may not be executed immediately. With those type of orders a client must be aware that he/she is giving up the certainty of execution. And are likely to receive requotes/rejects if the market price moves during the time it takes to fill a client’s order.

Stop order: A stop order allows selling below the current market price or buying above the current market price if the stop price is reached or breached. A stop order is therefore a pending order until the stop price is reached or breached. When a stop order is executed, it becomes a market order and is filled as soon as possible at the price obtainable on the market. Note that this price may differ from the price you set for the order (Slippage).

Execution Venues

Execution venues are the entities to which the orders are placed or to which the Company transmits orders for execution. The Execution Venue for clients’ orders will be duly authorized investment firms.

Pricing

The Company will provide its own tradable prices which are derived from independent price providers. The main way in which the Company will ensure that the client receives the best execution will be to ensure that the price provision to the client is made with reference and compared to a range of underlying price providers and data sources. Even though the Company takes every reasonable step to obtain the best possible result for its Clients, it does not guarantee that when executing an Order its price will be more favorable than one which might be available elsewhere. The Company reviews its independent price providers at least once a year to ensure that correct and competitive pricing is offered.

Costs of order

When the client opens a position in some types of financial instruments a commission or a financing fee will apply.

Size of order

All orders are placed in monetary value. The client will be able to place his order as long as he has enough balance in his trading account. If the client wishes to execute a large size order, in some cases the price may become less favorable considering the feed obtained from its price provider.

Speed of order

Obviously, prices change over time. The frequency with which they do varies with different financial instruments and market conditions. Considering that the tradable prices which are distributed via the Company’s trading platform/terminal, technology used by the client to communicate with the Company plays a crucial role. For instance, the use of a wireless connection, or dial up connection, or any other communication link that can cause a poor internet connection can cause unstable connectivity to the Company’s trading platform/terminal. The result for the client is to place his orders at a delay and the order to be executed at better or worst prevailing market price offered by the Company via its platform/terminal.

Likelihood of execution

Due to the levels of volatility affecting the underlying instrument’s price, the Company seeks to provide client orders with the fastest execution reasonably possible.

Likelihood of settlement

The Company shall proceed with the settlement of all transactions upon the execution and/or time of expiration of the specific transaction.

Market Impact

The Company’s quoted prices which are derived from its independent price providers may be affected by various factors which could also affect the abovementioned factors. The Company will take all reasonable factors to ensure the best possible result for its clients.

Conclusion

Appropriate information is provided to the client on the content of the execution policy. The prior consent of the clients is obtained regarding the documented order execution policy to be followed.  In addition, a clear and prominent warning is disclosed to the Company’s clients (within the Client Agreement) that any specific instruction from a client may prevent the Company from taking the steps that is has designed and implemented in its execution policy for obtaining the best possible result for the execution of those orders in respect to the elements covered by those instructions.

Adequate information is provided to the clients through this policy in relation to the factors that are taken into consideration by the management when handling clients’ orders. Also, the policy is reviewed periodically by the Company and the clients are informed accordingly in relation to any material changes.

In consideration of coiken (hereafter the “Company”) agreeing to enter into over-the-counter (“OTC”) contracts for differences (“CFDs”) and foreign exchange contracts (“FX Contracts”) with the undersigned (hereinafter referred to as the “Customer”, “you”, “your”), Customer acknowledges, understands and agrees that:

1. Trading is very speculative and risky.

Trading CFDs and FX Contracts is highly speculative, involves a significant risk of loss and is not suitable for all investors but only for those customers who:

• understand and are willing to assume the economic, legal and other risks involved;
• are experienced and knowledgeable about trading in derivatives and in underlying asset types; and
• are financially able to assume losses significantly in excess of margin or deposits, because investors may lose the total value of the contract, not just the margin or the deposit.

Neither CFDs nor FX Contracts are appropriate investments for retirement funds. CFD and FX transactions are among the riskiest types of investments and can result in large losses. Customer represents, warrants and agrees that Customer understands these risks, is willing and able, financially and otherwise, to assume the risks of trading CFDs and FX Contracts and that the loss of Customer’s entire account balance will not change Customer’s lifestyle.

2. Risks related to long CFD positions, i.e. for purchasers of CFDs.

Being long in CFD means you are buying the CFDs on the market by speculating that the market price of the underlying will rise between the time of the purchase and sale.

As owner of a long position, you will generally make a profit if the market price of the underlying rises whilst your CFD long position is open. On the contrary, you will generally suffer a loss, if the market price of the underlying falls whilst your CFD long position is open. Your potential loss may therefore be bigger than the initial margin deposited. In addition, you might suffer a loss due to the closure of your position, in case you do not have enough liquidity for the margin on your account to maintain your position open.

3. Risks related to short CFD positions, i.e. for sellers of CFDs.

Being short in CFD means you are selling the CFDs on the market by speculating that the market price of the underlying asset will fall between the time of the purchase and sale. As owner of a short position, you will generally make a profit if the market price of the underlying asset falls whilst your CFD short position is open. On the contrary, you will generally suffer a loss, if the market price of the underlying asset rises whilst your CFD short position is open. Your potential loss may therefore be bigger than the initial margin deposited. In addition, you might suffer a loss due to the closure of your position, in case you do not have enough liquidity for the margin on your account to maintain your position open.

4. High leverage and low margin can lead to quick losses.

The high degree of “gearing” or “leverage” is a feature of both CFDs and FX Contracts. The effect of leverage makes investing in CFDs riskier than investing directly in the underlying asset. This stems from the margining system applicable to CFDs, which generally involves a small deposit relative to the size of the transaction, so that a relatively small price movement in the underlying asset can have a disproportionately dramatic effect on your trade. This can be both advantageous and disadvantageous. A small price movement in your favor can provide a high return on the deposit, however, a small price movement against you may result in significant losses.

Your losses will never exceed the balance of your account, which is balanced to zero, if the losses are higher than the amount deposited. Such losses can occur quickly. The greater the leverage, the greater the risk. The size of leverage therefore partly determines the result of your investment.

5. Margin Requirements.

Customer must maintain the minimum margin requirement on their open positions at all times. It is Customer’s responsibility to monitor his/her account balance. Customer may receive a margin call to deposit additional cash if the margin in the account concerned is too low. The Company has the right to liquidate any or all open positions whenever the minimum margin requirement is not maintained and this may result in Customer’s CFDs or FX Contracts being closed at a loss for which you will be liable.

6. Cash Settlement.

Customer understands that CFD and FX Contracts can only be settled in cash and the difference between the buying and selling price partly determines the result of the investment.

7. Conflicts of Interest.

The Company is the counterparty to all Transactions entered into under the Customer Agreement and, as such, the Company’s interests may conflict with yours. Our conflict of interest policy is available at the Company’s website.

There is no central clearing and no guarantee by any other party of Company’s payment obligations to the Customer, thus Customer is exposed to credit risk with the Company. Customer must look only to the Company for performance of all contracts in Customer’s account and for return of any collateral.

8. OTC Transactions.

When trading CFDs or FX Contracts with us, such Transactions will not be executed on a recognized or designated investment exchange and are known as OTC transactions. All positions entered into with us must be closed with us and cannot be closed with any other entity. OTC transactions may involve greater risk than investing in on-exchange contracts because there is no exchange market on which to close out an open position. It may be impossible to liquidate an existing position, to assess the value of the position arising from an OTC transaction or to assess the exposure to risk. Bid Prices and Ask Prices need not be quoted by us, based on best execution policies applicable in the market. There is no central clearing and no guarantee by any other party of the Company’s payment obligations to the Customer. The Customer must look only to the Company for performance of all contracts in the Customer’s Account and for return of any Margin or collateral.

9. CFDs and FX Contracts.

Trading CFDs and FX Contracts carries a high degree of risk. The gearing or leverage often obtainable in such trading means that a relatively small market movement can lead to a proportionately much larger movement in the value of your liability. You should be aware of the implications of this, particularly, the Margin requirements.

10. Prices, Margin and Valuations are set by the Company and may be different from prices reported elsewhere.

The Company will provide prices to be used in trading, valuation of Customer positions and determination of Margin requirements in accordance with its Trading Policies and Procedures.

The performance of your CFD or FX Contract will depend on the prices set by the Company and market fluctuations in the underlying asset to which your contract relates. Each underlying asset therefore carries specific risks that affect the result of the CFD concerned.

11. Extent of Losses.

Where you are short in the market and the price rises, it is possible that the extent of your losses may not become clear until the position has been closed. You must undertake sufficient analysis prior to entering into a Transaction to ensure you are able to support the extent of the risk arising.

12. Rights to Underlying Assets.

You have no rights or obligations in respect of the underlying instruments or assets relating to your CFDs or FX Contracts. The Customer understands that CFDs can have different underlying assets, such as stocks, indices, currencies and commodities.

13. Currency Risk.

Investing in FX Contracts and CFDs with an underlying asset listed in a currency other than your base currency entails a currency risk, because when the CFD or FX Contract is settled in a currency other than your base currency, the value of your return may be affected by its conversion into the base currency.

14. One click trading and immediate execution.

The Company’s online trading system provides immediate transmission of Customer’s order once Customer enters the notional amount and clicks “Buy/Sell.” This means that there is no opportunity to review the order after clicking “Buy/Sell” and Market Orders cannot be cancelled or modified. This feature may be different from other trading systems you have used. Customer should utilize the Demo Trading System to become familiar with the Online Trading System before actually trading online with the Company. Customer acknowledges and agrees that by using the Company’s online trading system, Customer agrees to the one-click system and accepts the risk of this immediate transmission/execution feature.

15. The Company is not an adviser or a fiduciary to customer.

Where the Company provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and have not considered any of your personal circumstances or your investment objectives, nor is it an offer to buy or sell, or the solicitation of an offer to buy or sell Foreign Exchange Contracts or Cross Currency Contracts. Each decision by Customer to enter into a CFD or FX Contract trading with the Company and each decision as to whether a transaction is appropriate or proper for Customer, is an independent decision made by the Customer. The Company is not acting as an advisor or serving as a fiduciary to Customer. Customer agrees that the Company has no fiduciary duty to Customer and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with Customer following the Company’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by the Company.

16. Recommendations are not guaranteed.

The generic market recommendations provided by the Company are based solely on the judgment of the Company’s personnel and should be considered as such. Customer acknowledges that Customer enters into any Transactions relying on Customer’s own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of the Company and/or its affiliates. The generic market recommendations of the Company are based upon information believed to be reliable, but the Company cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will reduce or eliminate the risk inherent in trading CFDs and/or FX Contracts.

17. No guarantees of profit.

There are no guarantees of profit nor of avoiding losses when trading CFDs and FX Contracts. Customer has received no such guarantees from the Company or from any of its representatives. Customer is aware of the risks inherent in trading CFDs and FX Contracts and is financially able to bear such risks and withstand any losses incurred.

18. Customer May Not Be Able To Close Open Positions.

Due to market conditions which may cause any unusual and sharp market price fluctuations, or other circumstances the Company may be unable to close out Customer’s position at the price specified by the Customer and the Customer agrees that the Company will bear no liability for a failure to do so.

19. Internet Trading.

When Customer trades online (via the internet), the Company shall not be liable for any claims, losses, damages, costs or expenses, caused, directly or indirectly, by any malfunction, disruption or failure of any transmission, communication system, computer facility or trading software, whether belonging to the Company, Customer, any exchange or any settlement or clearing system.

20. Quoting Errors.

Should a quoting error occur (including responses to Customer requests), the Company is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments to the relevant Account. Any dispute arising from such quoting errors will be resolved based on the fair market value, as determined by the Company in its sole discretion and acting in good faith, of the relevant market at the time such an error occurred. In cases where the prevailing market represents prices different from the prices the Company has posted on our screen, the Company will attempt, on a best efforts basis, to execute Transactions on or close to the prevailing market prices. These prevailing market prices will be the prices, which are ultimately reflected on the Customer statements. This may or may not adversely affect the Customer’s realized and unrealized gains and losses.

21. Compensation.

The Company participates in the Investor Compensation Fund for clients of Investment Firms regulated in the Republic of Cyprus. Customers will be entitled to compensation under the Investor Compensation Fund where we are unable to meet our duties and obligations arising from your claim. Any compensation provided to you by the Investor Compensation Fund shall not exceed twenty thousand euro (EUR 20.000). This applies to your aggregate claims against us.

22. Updates.

The Company has the right to amend the current Policy as per its discretion and at any time it considers is suitable and appropriate. In such an event the Company will notify the client accordingly. The Company shall review and amend the current policy at least on an annual basis. The Policy is available for review by clients upon request and it is uploaded to the Company’s website.

I /We have read, understood and agree to the risk disclosure statement and the trading policies and procedures set out above.

The term KYC simply refers to Know Your Customer, a standard form that provides financial institutions with pertinent information about a client’s financial position and investment knowledge. The KYC documents are of utmost importance for an enhanced trading service. They also foster strong ties between the account manager and you, the trader, ensuring that proactive measures are taken to protect your interest when required.

Know You Customer policies are equally important for banks and other financial institutions worldwide. These policies are applied to prevent identity thefts, money laundering, financial frauds and terrorist activities.

coiken holds a zero tolerance fraud policy, and is taking all measures possible to prevent it. Any fraudulent activity will be documented and all related accounts to it will be immediately closed.

When you deposit funds we will require the following documents (All must be in high quality and in color):

• A copy of your valid passport or government ID.
• Proof of address – a utility bill or a bank statement. The document should display your full name and residential address as well as a date of issue. It should not be older than 3 months.
• A copy or a clear picture of the debit/credit card used to make the deposit. Please ensure that the first 12 numbers in front of the card are not visible (you can cover it with a paper), the CVV (3 numbers at the back of the card) are not visible and you have manually signed the back of your card.
• A Declaration Of Deposit form signed by the trader after every deposit.

When do I need to provide these documents?

We highly recommend that you provide all the necessary documents as soon as you can to avoid any account activation delays. We require the receipt of all the necessary documents prior to making any cash transaction to your benefit. Please note that the full KYC documentations are required before any trading activities can take place on your account.

Please note that if we do not receive the required documents on time, your pending withdrawals will be cancelled. We will notify you on such event via our system.

How can I send you these documents?

Please scan your documents, or take a high quality digital camera picture, and send it to [email protected] or to your account manager.

As an international crypto currency trading broker providing financial services, Equalizer ltd. is obliged to adhere to Anti-Money Laundering (AML) policies with due diligence. Equalizer ltd. complies with the international Anti-Money Laundering laws and regulations, and maintains a strong and aggressive stance to prevent illicit money laundering activities. Our stringent policies and procedures were implemented to detect, prevent and report Money Laundering and any other suspicious activities.

How is Money Laundering Defined?

When criminals attempt to relocate their illicit funds by transferring them to a lawful financial system without arousing any legal attention, this constitutes Money Laundering.

Once a criminal or terrorist person(s) transfers their funds into legitimate financial systems, they can then transfer them between banks or financial products to use in illegal activities, purchase goods and services, or even fund terrorism.

Equalizer ltd. will report any attempt by an individual or business to conceal the origin and ownership of the proceeds of illegal activities, including fraud, theft, illegal gambling, drug trafficking, and other activities.

Do I Need to Prove My Identity Before Opening a crypto currency Trading Account?

To prevent Money Laundering Equalizer ltd. requests that all of our customers provide supporting documentation for proof of identity and the origin of their funds before trading crypto currency trading with us. We place great emphasis on verifying the identity of our customers and determining that their funds are derived from a legal origin before opening an crypto currencies trading account or making a deposit. As part of this policy, you will be required to provide legal documentation to verify your name, personal details and location. 

We reserve the right to refuse to do business with, discontinue to do business with, and reverse any transactions with you if you do not accept or conform to the following AML requirements and policies:

• If you deposit funds to your account by means of wire transfer, any withdrawals from your account will only be transferred to the holder of the originating bank account of the deposit.
• If you deposit funds to your account by means of credit/debit card, withdrawals from your account will only be distributed to the individual whose name appears on the card used to make the deposit and only to the same card;
• Only one account is allowed per trader. No amount may be withdrawn from accounts opened in a false name or multiple accounts opened by the same person.