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Terms of service
Client Account Opening Agreement
The Parties
This Client Agreement (the "Agreement") is entered into between Mercato Brokers Company for Online Buying & Selling and Electronic Trading/Limited, which is established under the laws of the Kurdistan Region of Iraq and registered at the Ministry of Trade & Industries of the Kurdistan Region Government under the registration number “31385” with an office at building 308, Dream City, Erbil, Kurdistan Region of Iraq (the "Broker"),
and you, the person or entity. By electronically accepting this Agreement, you, the person or entity doing so, are indicating your understanding and consent to be bound by its terms. You will henceforth be referred to as the "Client" in this Agreement.
both parties referred to collectively as the "Parties".
Preambles
Whereas the Broker is a private company specialized in providing trading services in the international financial markets and has the license to provide Meta Trader 5 software to its clients for the purposes of trading in the financial markets.
Whereas the Client willingly desires to trade in the international financial markets by depositing its own capital at their own discretion and under their own responsibility to the trading account created for them by the Broker. The Client willingly requests the Broker to create a trading account for them.
On these bases, the Parties have agreed on the following terms and conditions.
Terms and Conditions
1- Account Opening and Registration
· The Client shall complete the required application forms and provide accurate and complete information for the account opening process.
· The Broker reserves the right to decline the Client's application without providing a reason.
· The Client acknowledges that they have read and understood all the terms and conditions, including risk disclosures, provided by the Broker.
2- Trading
· The Client agrees to make all trading decisions independently and acknowledges that they are responsible and accountable for all buy and sell decisions.
· The Broker, free of charge, provides market analysis, guidance and buy/sell signal services in accordance with its own conditions and programs. The Client acknowledges that at their own discretion and independently decide to depend or not to depend on such services for their trading decisions. The Client is responsible and accountable for results of their trades, whether they rely on Broker’s services or not.
· The Broker may, at its discretion and without the Client’s consent, limit or prohibit certain trading activities, including but not limited to hedging, scalping, certain types of news trading and the use of trading robots.
· The Broker may, at its discretion and without the Client’s consent, decide to change certain trading conditions, including but not limited to, Margin Call, Margin Level, Leverage, Server, Spread and Commissions.
3- Deposits and Withdrawals
· The Client shall deposit funds into their trading account using approved methods as specified by the Broker.
· The Broker may impose fees, commissions, or other charges related to deposits and withdrawals.
· The Client acknowledges that the deposited capital in their trading account is obtained in accordance with “Anti-Money Laundering & Anti-Terror Funding” laws, rules and regulations of the Kurdistan Region of Iraq, The Republic of Iraq, and international laws. The deposited capital is free from legal issues and claims. In case of appearance of any legal issues with the deposited capital, the Broker will not bear responsibility or accountability and will follow court/authorities’ instructions.
· The Client acknowledges that deposits and withdrawal of requests are subject to verification and may be delayed due to security and compliance procedures.
4- Confidentiality and Data Protection
· The Parties agree to treat all non-public information, including personal and financial data, as confidential and use it solely for the purposes of this Agreement.
· The Broker shall implement reasonable security measures to protect the Client's data; however, the Broker cannot guarantee the security of data transmission over the internet.
5- Termination
· By withdrawing all the capital on the account and keeping the trading unused for a period of fourteen days, the trading account will automatically be closed, and this Agreement will be deemed as terminated.
· The Broker may terminate this Agreement at any time with or without cause without receiving consent from the Client. At such cases, the Broker will return all available equity on the Clients account after closing all the open orders and resolving financial matters, if any.
· Termination of this Agreement shall not affect accrued obligations or liabilities.
6- Dispute Resolution
· Any disputes arising from or relating to this Agreement shall be resolved through negotiation in good faith between the Parties.
· If a dispute cannot be resolved through negotiation, the Parties agree to submit to the exclusive jurisdiction of the courts in Central District of Erbil for resolution.
7- Governing Law
· This Agreement is governed by and construed in accordance with the laws of Kurdistan Region of Iraq and the Republic of Iraq.
8- Severability
· If one or more provisions of this Agreement are determined invalid, unenforceable, or voidable under applicable law, such determination shall not affect the force, effect and validity of the other provisions of this Agreement.
9- Account Management and Authorization
· The Client acknowledges that by placing an order, they authorize the Broker to execute trades on their behalf in accordance with the Client's instructions and the Broker's trading policies.
· The Client is solely responsible for account login credentials’ security and agrees to notify the Broker immediately in case of any unauthorized access or suspicious activity.
10- Previous Agreements
· This Agreement constitutes the entire agreement between the Parties and supersedes any prior agreements or understandings, whether written or oral, relating to the subject matter herein.
11- Margin Trading
· The Client acknowledges that margin trading involves borrowing funds from the Broker to leverage trading positions and carries additional risks, including greater losses than the initial investment.
12- Amendments and Modifications
· The Broker may amend this Agreement without the Client's consent by providing reasonable notice.
· Amendments shall be deemed as accepted by the Client if they continue using the Broker's services after receiving notice of changes.
13- Trading Platforms and Technologies
· The Broker provides the Client with access to trading platforms and technologies for executing trades and accessing account information.
· The Client acknowledges that the availability, functionality, and reliability of trading platforms and technologies may be subject to factors beyond the Broker's control and agrees not to hold the Broker liable for any losses arising from their use.
14- Order Execution and Pricing
· The Broker uses commercially reasonable efforts to execute orders promptly and at prevailing market prices.
· The Client acknowledges that market conditions, including volatility and liquidity, may impact order execution and pricing, and that the Broker cannot guarantee the execution of orders at specific prices.
· The Broker may, at its discretion, reject or modify orders in cases of market disruptions, technical issues, or suspected abusive or fraudulent trading activities.
15- Fees, Commissions, and Charges
· The Client agrees to pay the Broker's fees, commissions, spreads, or other charges associated with trading activities, as specified in the Broker's fee schedule.
· The Broker reserves the right to modify its fee schedule with reasonable notice to the Client.
16- Indemnification
· The Client agrees to indemnify, defend, and hold the Broker harmless from claims, losses, damages, liabilities, or expenses arising from the Client's use of the Broker's services, including but not limited to unauthorized access, trading losses, or violation of laws or regulations.
17- Limitation of Liability
· To the extent permitted by applicable law, the Broker is not be liable for any indirect, consequential, incidental, or punitive damages arising out of or related to this Agreement, including but not limited to trading losses, system failures, or financial market disruptions.
18- Anti-Money Laundering and Compliance
· The Client agrees to comply with all applicable anti-money laundering (AML) and know-your-customer (KYC) regulations, including providing accurate and up-to-date identification and financial information.
· The Broker may, at its discretion, request additional documentation or information from the Client to verify their identity, source of funds, or compliance with regulatory requirements.
19- Exhibits
· Exhibit 1: Risk Acknowledgment
20- Acceptance of this Agreement
· The Client electronically accepts this Agreement by clicking "I acknowledge and accept" on the Agreement webpage.
Notice: this Agreement consists of twenty (20) points and one exhibit.
Exhibit 1: Risk Acknowledgment
By clicking the “I acknowledge and accept” button below, the Client acknowledges and confirms the following:
1- The Broker's primary function is to transfer and connect the Client's trading order to international liquidity providers. The Broker neither intervenes in nor claims a stake in the profits/losses accrued by the Client. The Broker does not manage the Client's capital.
2- The risk to capital in international financial markets is extremely high. By participating in trading activities, the Client might lose a portion or even all of the funds deposited into their trading account. The following are some types of risks associated with trading:
a. Market Instability & Volatility: International financial markets can be highly volatile. Market prices may fluctuate rapidly, potentially leading to significant losses if the Client does not implement appropriate risk management strategies.
b. Slippage: The Client recognizes that price slippage can occur for reasons outside the Broker's control. The Broker is not liable for any slippage in price.
c. Leverage: Engaging in leveraged trading requires the Client's understanding. By using leverage, the Client amplifies their account's buying/selling power compared to their original capital, thereby expanding both potential profits and losses.
d. Margin Call: Should the Client's floating losses surpass the permitted margin level percentage; the Client must deposit additional funds promptly. If not, orders might be automatically closed upon reaching the maximum allowed floating loss level, leading to substantial losses.
e. The Client accepts responsibility for all orders placed on their account and assumes all profits and losses. The Broker neither intervenes in nor oversees the Client's orders and bears no responsibility for their results.
f. The Broker does not guarantee profits or the prevention of losses. Should the Client rely on order signals, market analyses, trading strategies, or teachings, even those from experts affiliated with the Broker, the Client alone bears responsibility for outcomes from such guidance.
3- By selecting the “I acknowledge and accept” button, the Client confirms having read, understood, and accepted all terms presented in Exhibit 1: Risk Acknowledgment and assumes full responsibility for the risks described above.