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Foreign Exchange and any other Over-the-Counter (“OTC”) derivative product (Traded Contracts) trading is highly speculative and is only suitable for Customers who understand and are willing to assume the economic, legal and other risks involved, and are financially able to assume losses up to or in excess of Margin or Deposits. The customer hereby certifies that the Customer understands these risks and that the Customer is willing and able financially and otherwise to assume the risks of Traded Contracts Trading and that loss of the Customer’s entire Trading Account Balance will not result in a negative changeto the Customer’s life-style. Opening an Trading Account in order to speculate or assume risk of any sort on Traded Contracts and other products through the Over‐the‐Counter (“OTC”) market provided by "Joint Capital Management Ltd" on a ”Spot” basis means assumptions of the following risks:

  • Leverage

    High Leverage and low Margin can result in significant losses due to small price changein the traded products. High Leverage allows the Customer to assume more risk, magnifying both losses and profits; which can result in lossesup to and in excess of Deposits and Margin. The Customer must consider that if the trend in the market is against him/her the Customer may sustain a total loss of the initial margin funds and any additional funds deposited to maintain open positions. The Customer is responsible for all his/her risks, financial resources he/she uses and for the chosen trading strategy.
  • Quotes and Margin

    Quotes and Margins are set by Joint Capital Management Ltd and may differ from other firms. Joint Capital Management Ltd will exercise discretion in setting and co llecting Margin. Joint Capital Management Ltd is authorized to convert funds in the Customer’s Trad ing Account for Margin into and from such foreign currency at a rate of exchange determined by Joint Capital Management Ltd in its sole discretion on the basis of then‐prevailing money market rates. The Customer must maintain the minimum Margin Level requirement on Customer’s Open Positions at all times. The Customer assumes the responsibility to monitor the Customer’s r equired Margin. Joint Capital Management Ltd has the right to liquidate any or all Open Positions whenever the minimum Margin requirement is not maintained. To avoid a Margin Call it is highly recommended to maintain a Margin Level of 1000% or greater.
  • Risk Reduction

    Stop Loss Orders or Stop Limit Orders, which are intended to limit losses may reduce the incurred by price fluctuations, however such orders may not be able to execute under certain abnormal market conditions.
  • Product Risks

    The profit and loss in any given Transaction may be affected by a currency rate that is used to convert to the Accounts base currency. Accounts shall be opened in the follo wing currencies: USD/EUR as stated by the Customer and accepted by Joint Capital Management Ltd.
  • Technical

    The Customer is responsible for any technical issues sustained on the Customer’s side. These issues include but are not limited to:

    1. Failure of Customer’s hardware, software or internet connection;
    2. Improper operation of Customer’s equipment
    3. Improper settings on the Customer’s Terminal
    4. Delay of Customer Terminal updates
    5. MetaTrader Failure on Customer’s Computer

    The Customer acknowledged that at the moment of peak load there may be some difficulties in getting telephone communication with the duty operator, especially on the fast market (for example, when key economic indicators are released).
  • Transmission

    The Customer acknowledged that once a Transmission is made from the Client Terminal and enters the execution queue and begins being processed it cannot be cancelled. Any other instruction pertaining to the Transmission will be ignored until the Transmission is completed. The customer should always verify tho roughly that the details of Volume, Product and Price Level prior to submitting any Transaction. All Transactions are performed on a First-In-First-Out basis.
  • Trading Agents

    In the event that the Customer grants trading authority to a third party, the “Trading Agent”, whether on a discretionary or non‐discretionary basis, Joint Capital Management Ltd shall in no way be responsible for reviewing the Customer’s choice of such Trading Agent. Joint Capital Management Ltd is in no way liable for any losses incurred by such a party and any disputes that may arise will be resolved between Customer and Trading Agent. In case of an unnamedTrading Agent on the Customer’s Account, Joint Capital Management Ltd is not liable for rejecting any instruction from a non-authorized party on the Customer’s Trading Account.
  • Phone Communication

    The Customer understands that during peak trading hours that the Customer may experience some difficulties in contacting Joint Capital Management Ltd due to high volume. Joint Capital Management Ltd Ltd cannot be held liable for any disruptions in service due to any Force majeure.
  • Human Errors

    The Customer understands that any error that is made by an Joint Capital Management Ltd employee that results in any position opened at an “untraded” price cannot be honored and will subsequently be deleted.
  • Bankruptcy

    In case of Bankruptcy, creditors retain priority. All transactions entered into with Joint Capital Management Ltd by the Customer are not traded on an exchange. Therefore, under the regulating code of law, the Customer’s funds may not receive the same protections as funds used to guarantee exchange-traded futures or options contracts. If the company becomes insolvent, the Customer’s claim for deposits and profits may not receive priority. The customer is a general creditor and will be paid as such from any monies still available after priority claims are paid.
  • Force Majeure

    In case of Force Majeure the Customer shall accept the risk of financial losses.