SWAP-FREE ACCOUNTS Clause Samples
SWAP-FREE ACCOUNTS. 15.1. The Company, at its sole discretion, may enable swap-free trading for 10 calendar days. Upon the lapse of the 10 days the Company shall charge the swap fee to accounts holding open positions accordingly. The Client agrees that a carry commission (equivalent to swap charges) may apply.
15.2. The Company reserves the right to disable swap-free trading and/or retrospectively charge the swap fee, at its sole discretion and/or in the event of suspicion of swap abuse and/or in the event of default in accordance with Clause 25(e) of this Agreement.
SWAP-FREE ACCOUNTS. 11.1. The Company offers Islamic (swap-free) accounts to comply with Islamic Shariah law; this is also an advantage for all traders who hold their positions for multiple days without being aware of swaps or overnight fees; thus, a trading account would not pay, or be paid for holding a position for more than one business day.
11.2. If the Client wishes to convert his Client Account into a swap free account or vice versa, he must send a notification to the Company. The Client has the right to convert his Client Account from swap free into usual Client Account, without inserting any reasons.
11.3. If the Client has a swap free account, no swaps or roll over charges will be applied to trading positions overnight. This means that the Client Account will be free from interest or swap charges and features zero up-front commissions without additional charges per trade. Any charges applicable appear on the Company’s website.
11.4. If the Client has a swap-free account all the provisions herein in this entire Agreement apply to him save any mentions to swaps unless the text provides that swaps apply to such a Client as well.
11.5. Any client who misuses this advantage by holding his floating positions for a long time period, taking advantage of the swap-free facility and gaining profits from swaps must close the floating positions immediately, bearing in mind that these fees are handled by the company and not paid by clients.
11.6. Hedging a currency pair by its corresponding Future CFD and/or hedging positions on a swap based account against positions on a swap free account is forbidden, as these also represent attempts to take advantage of the swap free facility and gain profits from swaps; one direction of this kind of hedge must be closed immediately.
11.7. The Company has the right to charge certain instruments Storage Fees on positions that have remained open for 1 day or more, most recent information can be found on the company website (▇▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇.▇▇/en/trading-conditions.html).
11.8. If the client fails to take action to avoid such practices, the Company will be required to close or take any necessary action on these accounts without prior written notice.
SWAP-FREE ACCOUNTS. 20.1. In the event the Client, due to their observance of their religious beliefs, cannot receive or pay interest, such Client may apply, by completing and submitting to the Company an application form which shall be provided to you on your request (this form may be amended by the Company from time to time) or via such other procedure as the Company may designate from time to time in its sole discretion, for their Account to be designed as a Swap Free Account not charged with or entitled to, premiums and/or rollovers and/or interest (“Swap Free Account”). The client hereby confirms and/or accepts and/or declares that a request to render their Account Swap Free shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting the request of a client to designate their Account as a swap free account, upon its sole and absolute discretion which shall be conclusive and undisputable upon the Client.
20.2. In the event that the Company suspects that a Client is abusing the rights conferred to them by the classification of the Account as Swap Free Account, the Company has the right, without prior notice, to proceed with one or more of the following:
a) The Company may add commission upon each and every one of the trades executed on the Swap Free Account; and/or
b) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as Swap Free Account, recall the designation of the Account as Swap Free Account and render it a normal trading Account; and/or
c) The Company may restrict and/or prohibit the client from hedging their positions; and/ or
d) The Company may, upon its sole discretion, close any open positions and reinstate them upon the then prevailing market price. The client hereby, acknowledges, agrees and accepts that he / she shall bear all costs derived from the aforementioned action, including but not limited to, the cost on the change of the Spread.
20.3. The Company offers, at its discretion, swap free (or “Islamic”) accounts for any clients who, for religious reasons, may choose not to receive or pay daily swap fees. Clients with Swap Free Accounts shall be allowed to trade in selected CFDs in underlying Financial Instruments which shall be selected by the Company also in its sole discretion and in accordance with its internal policies. The list of such underlying Financial Instruments (or the list of those CFDs for which ...
SWAP-FREE ACCOUNTS. 27.1. We offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free trading accounts are available only to those clients who cannot use swaps owing to their religious beliefs. The swap free accounts shall only be made available to the said Islamic religious beliefs and for no other reason whatsoever. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right upon our sole and absolute discretion to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification and such decision shall be decisive and undisputable for the client.
27.2. While a client may file a request for an Islamic (Swap-free) trading account at any time, the filing of any such request entails that all of such client’s other real trading Accounts with us will be converted into Swap-free trading accounts also, without any further notice being required. Conversion of a real trading Account to a Swap-free trading account is performed by our Back-Office Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap-free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate the request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not.
27.3. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real trading Account(s) into one or more Swap-free Account(s) for the period during which their real trading Account(s) has/have been converted into one or more Swap-free account(s).
27.4. Where you have a Swap Free Account, you are obliged to close any open CFD position within 7 (seven) calendar days of opening thereof. In the event of your failure to do so, the Company shall have a right to treat any such instance as an abuse by you of the terms of operation of such Swap Free Account and take any of the actions specified in paragraphs (a) to (e) of Clause 27.5. below, in each case with retroactive effect.
27.5. We reserve the right to revoke the Swap-free status granted to any real trading Account at any ...
SWAP-FREE ACCOUNTS. 13.1. The Company, at its sole discretion, may enable swap-free trading for 10 calendar days. Upon the lapse of the 10 days the Company shall charge the swap fee to accounts holding open
13.2. The Company reserves the right to disable swap-free trading and/or retrospectively charge the swap fee, at its sole discretion and/or in the event of suspicion of swap abuse and/or in the event of default in accordance with Clause 25(e) of this Agreement. 14. COPY TRADING
14.1. Our Social Trading Features Services assists the Client in testing, evaluating and selecting the Client’s investment strategy by providing the Client with detailed account information, trading history, risk profile and other pertinent information that the Client should consider before electing to copy a specific account. In doing so, the Client should bear in mind all aspects and factors including, but not limited to, the risk nature of the copied account and investment objectives.
14.2. The Company will update the Suitability Assessment from time to time. The Client confirms and acknowledges that our assessment of the Client the use of our Social Trading/Copying Trades services is performed on the basis of the information and documents provided by the Client, and the Client confirms the truthfulness, correctness and completeness of such information. The Client acknowledges that the Company may rely upon such information and that the Client is responsible for any damages or losses which may result from any inaccuracies. The Client can retrieve upon request the Client suitability questionnaire at any time and evaluate whether there has been a change to the Client’s experience, trading objectives and/or financial situation.
14.3. The Company will be responsible to the Client for:
14.3.1. informing the Client from time to time of the details of the Client Suitability Assessment and Investment Profile; and
14.3.2. executing all instructions generated by the Social Trading/Copying Trades Services at the price executed by the Master Trader.
14.4. The Company does not provide investment advice, nor provide any personalized investment recommendations and/or advise the Client on the merits of any investments, either with respect to our Social Trading/Copying Trades services or any Service.
14.5. In making a decision to Copy a specific trader or traders, strategy and/or portfolio, the Client has considered his/her entire financial situation including financial commitments and the Client understands that...
SWAP-FREE ACCOUNTS. 10.1. In the event the client, due to their observance of their religious beliefs, cannot receive or pay interest, such client may apply for a swap free account by sending a request to ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇ or via such other procedure as we may designate from time to time in our sole discretion, for the account to be designed as a Swap Free Account, not charged with or entitle to premium and/or rollovers and /or interests.
10.2. The client hereby confirms and accepts that a request to render their account Swap Free shall only be made due to the Islamic religious beliefs and for no other reasons whatsoever.
10.3. The client hereby agrees to provide any documents attesting to their faith, if required to do so.
10.4. The company reserves the right to refuse this request upon its sole and absolute discretion
10.5. In the event that the Company suspects any abuse, the Company has the right to:
10.5.1. Revoke the Swap Free account immediately.
10.5.2. The company may add commission upon each trade executed on the Swap Free account and/or
10.5.3. Render the trading account a normal trading account, carrying swaps
10.5.4. Close any open positions and reinstate them upon the then prevailing market price. The client shall bare all costs derived from this action, including but not limited to the cost on the change of the spread
10.6. Accounts shall be allowed to trade on selected CFDs, selected by the company in its sole discretion.
10.7. Swap-free privileges do not apply on Crypto and Stocks CFD trading. Crypto and Stock positions may be charged Spread and/or commission on daily basis as long as they remain opened in accordance with company policy and on our own discretion.
SWAP-FREE ACCOUNTS. 16.1. The Company, following the request of an Islamic Account, may enable swap-free trading for ten (10) calendar days. Upon the lapse of the ten (10) days, the Company shall charge the swap fee to accounts holding open positions accordingly. The Client agrees that a carry commission (equivalent to swap charges) may apply.
16.2. The Company reserves the right to disable swap-free trading and/or retrospectively charge the swap fee, at its sole discretion and/or in the event of suspicion of swap abuse and/or in the event of default.
SWAP-FREE ACCOUNTS. 20.1. In the event the Client, due to their observance of their religious beliefs, cannot receive or pay interest, such Client may apply, by completing and submitting to the Company an application form which shall be provided to you on your request (this form may be amended by the Company from time to time) or via such other procedure as the Company may designate from time to time in its sole discretion, for their Account to be designed as a Swap Free Account not charged with or entitled to, premiums and/or rollovers and/or interest (“Swap Free Account”). The client hereby confirms and/or accepts and/or declares that a request to render their Account Swap Free shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting the request of a client to designate their Account as a swap free account, upon its sole and absolute discretion which shall be the Swap Free Account; and/or
SWAP-FREE ACCOUNTS. 28.1. In the case where you open a Swap Free Trading Account or Accounts, you acknowledge and agree to the following:
a) If we suspect any:
i. fraud; ii. manipulation;
SWAP-FREE ACCOUNTS. 2.1 If you are willing and able to comply with these Swap-Free Account Terms, you may request that we open a Swap-Free Account for you.
2.2 We are not obliged to open a Swap-Free Account for any applicant and may refuse any application for any reason (without providing a reason to the applicant).
2.3 We reserve the right to cease offering (and/or to close any existing) Swap-Free Accounts without notice to you.
2.4 We will not charge any interest or Overnight Financing costs in respect of a Swap-Free Account.
2.5 We will not pay any interest in respect of a Swap-Free Account and by requesting that we open a Swap-Free Account, you acknowledge that you are waiving any entitlement to interest in respect of such account.
2.6 Although it is our intention that Swap-Free Accounts be Sharia compliant, we make no warranty or representation (express or implied) in respect of whether or not any Swap-Free Account is Sharia compliant. You agree and acknowledge that different authorities take different views and that it is your responsibility to carry out your own analysis and investigations, consulting such advisers as you deem necessary, to determine if the Swap-Free Account, and the terms on which it is offered, conforms with Sharia principles and your corresponding requirements.