1.1. The Delta Capitals (hereinafter – the Company) before granting access to the trading platform informs all existing and potential Clients about necessity to read attentively the following risk disclosure and warning notice prior to registration of the trading account and before any trading activity.
1.1.1. This document does not disclose all of the potential risks and does not explain other essential aspects related to manipulations on the financial markets.
1.1.2. The following notice was specifically published on the website to explain to potential and existing Clients the nature of the risks related to manipulations with the financial instruments on the trading platform.
1.2. This Risk Disclosure along with User Agreement and its additions published on this website determines the relationship between the Client and the Company. By registering on the website the Client confirms his full acknowledgement of all the risks mentioned in the following Risk Disclosure and accepts its terms.
1.3. This Risk Disclosure applies only to websites and platforms that directly belong to Delta Capitals and does not relate to any websites to which the banners, etc. posted on the company’s website, can refer.
2.1. The provision of services by the Company to the Client is subject to fees described in clause 12.2 of the User Agreement. Before the Client begins to trade, he should obtain details of all fees, commissions, charges for which the Client will be liable. The Client should remain responsible for bearing all charges that may be applied to his/her trading account.
2.2. If any charges are not expressed in monetary terms (but, for example, as a percentage of contract value), the Client should ensure that he/she understands the nature of the charges.
2.3. The Company may change its charges at any time.
2.4. There is a risk that the Client’s trading activity on the platform may be or become subject to tax and/or any other duty for example because of changes in legislation or his/her personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. The Company does not offer tax advice.
2.5. The Client is responsible for any taxes and/or any other duty which may accrue in respect of his trades.
2.6. It is noted that taxes are subject to change without notice.
3.1. The Company may pass money received from the Client to a third party (e.g. an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty located outside the country of Company’s registration to hold or control in order to effect a Transaction through or with that person or to satisfy the Client’s obligation to provide collateral (e.g. initial margin requirement) in respect of a Transaction.
3.1.1. The Company cannot be held responsible for any acts or omissions of any third party to whom it will pass money received from the Client.
3.2. The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client’s money, or the third party’s money. In the event of the insolvency or any other analogous proceedings in relation to that third party, the Company may only have an unsecured claim against the third party on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses.
3.3. The Company may deposit Client money with a depository who may have a security interest, lien or right of set-off in relation to that money.
3.4. A Bank or any other financial institution the Company deals with could have interests contrary to the Client’s Interests.
4.1. The Company’s insolvency or unfulfillment of certain obligations, may lead to positions being liquidated or closed out without the Client’s consent.
5.1. The Client and not the Company shall be responsible for the risks of financial losses caused by failure, malfunction, interruption, disconnection or malicious actions of information, communication, electricity, electronic or other systems.
5.2. If the Client undertakes transactions on an electronic system, he will be exposed to risks associated with the system including the failure of hardware, software, servers, communication lines and internet failure. The result of any such failure may be that his order is either not executed according to his instructions or it is not executed at all. The Company does not accept any liability in the case of such a failure.
5.3. The Client acknowledges that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.
5.4. At times of excessive deal flow the Client may have some difficulties to be connected to the Company’s Platform via smartphone, laptop or any other device. Connection issues may occur at the times of increased volatility in the financial markets (for example, when key macroeconomic indicators are released).
5.5. The Client acknowledges that the internet may be subject to events which may affect his access to the Company’s Website and/or the Company’s trading Platform(s)/system(s), including but not limited to interruptions or transmission blackouts, software and hardware failure, internet disconnection, public electricity network failures or hacker attacks. The Company is not responsible for any damages or losses resulting from such events which are beyond its control or for any other losses, costs, liabilities, or expenses (including, without limitation, loss of profit) which may result from the Client’s inability to access the Company’s Website and/or Trading System or delay or failure in sending orders or Transactions.
5.6. In connection with the use of computer equipment and data and voice communication networks, the Client bears the following risks among other risks in which cases the Company has no liability of any resulting loss:
5.6.1. Power cut of the equipment on the side of the Client or the provider, or communication operator (including voice communication) that serves the Client;
5.6.2. Physical damage (or destruction) of the communication channels used to link the Client and provider (communication operator), provider, and the trading or information server of the Client;
5.6.3. Outage (unacceptably low quality) of communication via the channels used by the Client, or the Company or the channels used by the provider, or communication operator (including voice communication) that are used by the Client or the Company;
5.6.4. Wrong or inconsistent with requirements settings of the Client Terminal;
5.6.5. Untimely update of the Client Terminal;
5.6.6. When carrying out transactions via the telephone (land or cell phone lines) voice communication, the Client runs the risk of problematic dialing, when trying to reach an employee of the broker service department of the Company due to communication quality issues and communication channel loads;
5.6.7. The use of communication channels, hardware and software, generates the risk of not receiving a message (including text messages) by the Client from the Company;
5.6.8. Malfunction or non-operability of the Platform, which also includes the Client Terminal.
5.7. The Client may suffer financial losses caused by the materialization of the above risks, the Company accepting no responsibility or liability in the case of such a risk materializing and the Client shall be responsible for all related losses he may suffer.
6.1. The Client is warned that when trading on the financial markets through the trading platform he/she accepts the risk of financial losses which may occur due to one one following factors:
6.1.1. Malfunction of Client’s devices, software and poor quality of connection;
6.1.2. The Company’s or Client’s hardware or software failure, malfunction or misuse;
6.1.3. Improper work of Client’s equipment;
6.1.4. Wrong setting of Client’s Terminal;
6.1.5. Delayed updates of Client’s Terminal.
6.2. The Client acknowledges that only one Instruction is allowed to be in the queue at one time. Once the Client has sent an Instruction, any further Instructions sent by the Client are ignored.
6.3. The Client acknowledges that quotes base in the client’s terminal is not a reliable source of quotes flow information because the connection between the client terminal and the server may be disrupted at some point and some of the quotes simply may not reach the client terminal.
6.4. The Client acknowledges that when the Client closes the order placing/ deleting window or the position opening/closing window, the Instruction, which has been sent to the Server, shall not be cancelled.
6.5. Orders may be executed one at a time while being in the queue. Multiple orders from the same Client Account in the same time may not be executed.
6.6. The Client acknowledges that when the Client closes the Order, it shall not be cancelled.
6.7. In case the Client has not received the result of the execution of the previously sent Order but decides to repeat the Order, the Client shall accept the risk of making two Transactions instead of one.
6.8. The Client acknowledges that if the pending order has already been executed but the Client sends an instruction to modify its level, the only instruction, which will be executed, is the instruction to modify Stop Loss and/or Take Profit levels on the position opened when the Pending Order triggered.
7.1. The Client shall accept the risk of any financial losses caused by the fact that the Client has received with delay or has not received at all any notice from the Company.
7.2. The Client acknowledges that the unencrypted information transmitted by e-mail is not protected from any unauthorised access.
7.3. The Company has no responsibility if unauthorized third parties have access to the Client’s information, including electronic addresses, electronic communication and personal data, access data when the above are transmitted between the Company and the Client or when using the internet or other network communication facilities, telephone, or any other electronic means.
7.4. The Client is fully responsible for possible risks and losses in respect to undelivered internal and external messages sent to the Client by the Company.
8.1. In case of a Force Majeure Event the Company may not be in a position to arrange for the execution of Client Orders or fulfill its obligations under the agreement with the Client. As a result the Client may suffer financial loss.
8.2. The Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing its obligations under this Agreement where such failure, interruption or delay is due to a Force Majeure event.
9.1. Trading with financial instruments is very speculative and highly risky. The following trading type can be suitable only for those investors who:
9.1.1. understand and ready to take the economic, legal and other obligations and risks;
9.1.2. take into account their personal financial circumstances, financial resources, lifestyle, obligations and financially able to accept the loss of their entire investment;
9.1.3. have sufficient knowledge, market sophistication and experience to make their own evaluation of the merits and risks related to trading with financial instruments.
9.2. The Company has the right to provide the Client with any advice related to financial instruments, underlying assets, markets or investments in accordance to clause 18.104.22.168. of the User Agreement. In case the Client does not understand the risks involved he/she should seek advice and consultation from an independent financial advisor. If the Client still does not understand the risks involved in trading with financial instruments, he/she should immediately stop any trading activity on the account and send the company a corresponding email with the relevant notice.
9.3. Financial instruments deriving their value from the prices of the underlying assets/markets in which they refer to (for example currency, equity indices, stocks, metals, indices futures, forwards etc.).It is important for the Client to understand the risks associated with trading in the relevant underlying asset/ market because fluctuations in the price of the underlying asset/ market will affect the profitability of his trades.
9.4. Information of the previous performance of a Financial Instrument does not guarantee its current and/or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the Financial Instruments to which the said information refers.
9.5.1. Operations with foreign exchange and financial instruments carry a high degree of risk. The amount of initial margin may be relatively small compared to the value of the contract for foreign exchange or any other financial instruments.
9.5.2. A relatively small market movement will have a proportionately larger impact on the funds the Client has deposited or will have to deposit; this may work against the Client as well as for the Client. The Client may sustain a total loss of initial Margin funds and any additional funds deposited with the Company to maintain his position. If the market moves against the Client’s position and/or Margin requirements are increased, the Client may be called upon to deposit additional funds on short notice to maintain his position. Failing to comply with a request for a deposit of additional funds, may result in closure of his position(s) by the Company on his behalf and he will be liable for any resulting loss or deficit.
9.6. Risk-reducing Orders or Strategies
9.6.1 The placing of certain Orders (e.g. “stop-loss” orders, where permitted under local law, or “stop-limit” Orders), which are intended to limit losses to certain amounts, may not be adequate given that markets conditions make it impossible to execute such Orders, e.g. due to illiquidity in the market. Strategies using combinations of positions, such as “spread” and “straddle”‘ positions may be as risky as taking simple “long” or “short” positions. Therefore Stop Limit and Stop Loss Orders cannot guarantee the limit of loss.
9.6.2. Trailing Stop and Expert Advisor cannot guarantee the limit of loss.
9.7.1. Some financial instruments can be used to trade within wide intraday ranges with volatile price movements. Therefore, the Client must carefully consider that there is a high risk of losses as well as profits. The price of financial instruments is derived from the price of the Underlying Asset in which the Financial Instruments refer to. Financial Instruments and related Underlying Markets can be highly volatile. The prices of Financial Instruments and the Underlying Asset may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the Client or the Company. Under certain market conditions it may be impossible for a Clients order to be executed at declared prices leading to losses. The prices of Financial Instruments and the Underlying Asset will be influenced by, amongst other things, changing supply and demand relationships, governmental, agricultural, commercial and trade programs and policies, national and international political and economic events and the prevailing psychological characteristics of the relevant market place.
9.8.1. The Client acknowledges and accepts that, regardless of any information which may be offered by the Company, the value of Financial Instruments may fluctuate downwards or upwards and it is even probable that the investment may become of no value. This is owed to the margining system applicable to such trades, which generally involves a comparatively modest deposit or margin in terms of the overall contract value, so that a relatively small movement in the Underlying Market can have a disproportionately dramatic effect on the Client’s trade. If the Underlying Market movement is in the Client’s favor, the Client may achieve a good profit, but an equally small adverse market movement can not only quickly result in the loss of the Clients’ entire deposit, but may also expose the Client to a large additional loss.
9.9.1. Some of the Underlying Assets may become non-liquid as a result of reduced demand. The Client may not be able to obtain the information on the value of these or the extent of the associated risks.
9.10. Suspensions of Trading
Under certain trading conditions it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange trading is suspended or restricted. Placing a Stop Loss will not necessarily limit the Client’s losses to the intended amounts, because market conditions may make it impossible to execute such an Order at the stipulated price. In addition, under certain market conditions the execution of a Stop Loss Order may be worse than its stipulated price and the realized losses can be larger than expected.
10.1. The Client should trade by himself/herself and take relevant decisions based on his own judgement. By asking the Company to open trades on the Client’s behalf, the Client declares that he/she should be held liable for making his/her own independent evaluation and investigation of risks related to trading orders. The Client represents that he/she has sufficient knowledge, market sophistication, professional advice and experience to make his/her own evaluation of the merits and risks of any operation. The Company gives no warranty as to the suitability of the products traded under this Agreement and assumes no fiduciary duty in its relations with the Client. The provision of consulting and information services, when the Client accepts that any consultation or information, which the Client received from the Company, is not an inclined endorsement of action but is for guidance only.
10.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client might seek independent expert advice if he is in any doubt as to whether he may incur any tax liabilities. The Client is hereby warned that tax laws are subject to change from time to time.
10.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or the Trading Platform or otherwise) with information, recommendations, news, market commentary or other information but not as a service. Wherein:
10.3.1. The Company will not be responsible for such information;
10.3.2. The Company gives no representation, warranty or guarantee as to the accuracy, correctness or completeness of such information or as to the tax or legal consequences of any trading operation;
10.3.3. This information is provided solely to enable the Client to make his/her own investment decisions and does not count as investment advice or unsolicited financial promotions to the Client;
10.3.4. If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he will not pass it on to any such person or category of persons;
10.3.5. The Client accepts that prior to despatch, the Company may have acted upon it itself to make use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he will receive such information at the same time as other clients.
10.3.6. It is understood that market commentary, news, or other information provided or made available by the Company are subject to change and may be withdrawn at any time without notice.
11.1. The Company provides no guarantee of profit or avoiding losses when trading. The Client will not receive such a guarantee from the Company or from any of its representatives. The Client is aware of the risks inherent in trading and is financially able to bear such risks and withstand any losses incurred.