- If the Client access and uses the products and/or services available on this website, the Client accepts and agrees to be bound by the Terms and Conditions of BelforFx (henceforth known as THE COMPANY). The Client should access and read this Risk Disclaimer before using this website or its products and/or services. Changes may be made to the Disclaimer at any time without notice. Accordingly, the Client also agrees to review this Risk Disclaimer regularly and the Client’s continued access or use of the website indicates the Client’s agreement with the entirety of this document.
- The risk of loss in Trading in the Financial Markets, the Foreign Exchange Market, or Forex (henceforth known as the Financial Markets) is substantial. Before Trading, the Client should carefully consider the Client´s financial position to determine if this type of Trading is appropriate for the Client. When trading in the Financial Markets, it is possible to lose more than the full value of the Client´s account. All funds deposited should be risk Capital.
- The Client should carefully consider the Client´s investment objectives, level of experience and risk tolerance before deciding to trade in the Financial Markets. Trading in the Financial Markets carries a high level of risk and may not be suitable for all investors. There is a possibility that the Client could sustain a loss of all or more of the Client’s investment, therefore the Client should not invest money that the Client cannot afford to lose. The Client should always be aware of all the risks associated with Trading in the Financial Markets.
- There are several risk factors that may substantially affect the price, or liquidity of a currency or currency pair including, securities or financial instruments but not limited to creditworthiness, leverage, limited regulatory protection and market volatility. Because these transactions are leveraged, any market movement will have an equally proportional effect on the Client deposited funds. This effect may work for the Client as well as against the Client. Further, the likelihood exists that the Client could sustain a total loss of the deposited funds and be required to deposit additional funds to maintain an open position.
- No representation or declarations are being made that any account has in the past, or will in the future, achieve profits using any kind of recommendations. No representation or declarations are being made that price patterns will recur in the future. Past performance is not necessarily indicative of future results.
- Any opinion, research, news analysis or other information contained in the websites or from employees of the Company, is derived from sources believed to be reliable. All information is provided as general Market Commentaries and it cannot be constituted as investment advice.
- Trading through an Electronic Trading Platform or order routing systems exposes the Client to risks associated with system or component failure. In the event of systems or component failure, it is possible that, for a certain and unlimited time period, you may not be able to enter new orders, execute existing orders, or modify or cancel orders that were previously entered. System or component failure may also result in loss of money, loss of orders, or order priority.
Systems and Ability to Trade
- The Client agrees and accepts that THE COMPANY shall not be responsible or liable for any losses, damages, costs or expenses (including, without limitation to, loss of profits, loss of use, direct, indirect or consequential damages) caused directly or indirectly by any events, actions or omissions. The Client agrees and accepts that such events, actions or omissions include, without limitation, delays or inaccuracies in the transmission of orders or other instructions with regard to Client's Account(s) due to a breakdown or failure of any communication, transmission or execution facility may cause loses to Client.
Client agrees and accepts that if Client trades electronically (including, without limitation, via the internet, electronic mail, electronic bulletin board, facsimile or other similar means ("Electronic Medium") THE COMPANY shall not be held responsible or liable for any losses, damages, costs or expenses (including, without limitation, loss of profits, loss of use, direct, indirect or consequential damages) arising from:
- Any failure or malfunction of any of THE COMPANY's electronic order entry systems including, without limitation, Client's ability or inability to enter, change or cancel electronic orders for Client's Account(s); or,
- Any fault or error with regard to the delivery, price report, fill report, delay, omission, suspension, execution or termination of electronic orders for Client's Account(s); or,
- Any fault or error with regard to the maintenance of any or all of THE COMPANY's electronic order entry systems or any of THE COMPANY's or any facilities used to support any such electronic order entry system(s).
- Client agrees that Client is solely responsible for maintaining sufficient financial requirement(s), which shall be no less than that required by the applicable entity on which such position is traded (but may be greater as determined in THE COMPANY's sole and absolute discretion), with regard to Trading electronically by Client for Client's Account(s).
- Client agrees and accepts that THE COMPANY is not responsible or liable to Client for accepting or refusing to accept any electronic order(s) for the Client's Account(s).
- Client agrees that THE COMPANY is not responsible for any losses resulting directly or indirectly from any government restriction, entity ruling, suspension of Trading, actions of independent entities, war, strike, natural disaster, or wire malfunction, delay in mails or any other delay in or inaccuracy in the transmission of orders or information due to a failure or breakdown of communication facilities. Client agrees that all Forex information, including, without limitation, price quotations and trade price reports, are subject to change, error and delay in reporting and Client agrees that reliance on such information is at Client's sole risk. Client agrees that Client is bound to the actual execution price of transactions on THE COMPANY’S Electronic Trading Platform. THE COMPANY is not bound by erroneous transaction reports or erroneous price reports communicated to Client.
Managed Accounts/Asset Management
- The Client hereby accepts and agrees to indemnify and hold THE COMPANY harmless for following the instructions of the Trader or Client, and further agrees never to attempt to hold THE COMPANY liable for the Trader's and/or Clients actions, including but not limited to, all losses or lost profits sustained, costs and/or expenses, indebtedness and liabilities (including attorneys' fees) arising therefrom.
- Since the risk factor is high in Forex Trading, only genuine "risk" funds should be used in such Trading. A person who does not have extra Capital he/she can afford to lose should not trade in the Financial Markets or Forex. No "safe" Trading system has ever been devised and no one can guarantee you profits or freedom from loss; In fact, no one can even guarantee to limit the extent of the Client’s loss or losses.
- If the Client has granted Trading authority to another, this does not relieve the Client of the responsibility to know what is going on in the Client´s account.
- The Client declares to understand and acknowledge that THE COMPANY is in no way responsible for any loss as a result of the actions or inactions of the individual or organization that trades the Client´s funds and that THE COMPANY does not, by implication or otherwise, endorse the operating methods of such individual or organization.
Additional Risk Procedure
- The Client should be aware that the risk of loss for Trading in the Financial Markets can be substantial. The Client may sustain a total loss of the Client’s initial financial requirement(s) funds and any additional funds that the Client deposits to establish or maintain a position. In addition, market conditions may be such that the Client´s account can incur in a negative balance. In this event, the Client will be liable for any deficit in the Client´s account.
- The Client should study how to trade in the Financial Markets and consider all of the Client´s financial obligations to determine whether Trading in the Financial Markets is appropriate for the Client. Since the risk factor is high, only genuine "risk funds" should be used.
Risks and/or Contingencies:
- The Client declares to understand and accept all applicable risks and/or contingencies, which are situations that can cause losses, delays in disbursements or that the Client’s account could fall into frozen status for an undetermined amount of time; risks and/or contingencies can also prevent the Company to continue its operations in a normal way, therefore the Client understands and agrees that risks and/or contingencies are not imputable and are out of the control and responsibility of the Company.
The Client declares to accept all the Risks and/or Contingencies which may apply to this type of investments. The Risks and/or Contingencies may be the following but are not limited to:
- Technical failure such as; connectivity, hardware, software, data transfer, among others.
- The behavior, conditions, volatility and performance of the financial or non-financial Markets.
- Political, social and economic conditions; all kinds of losses and accidents in general caused by natural or man-made disasters such as wars, terrorist acts, strikes, vandalism, civil commotion, force majeure causes, etc.
- Behavior, conditions and/or volatility of the international financial or non-financial Markets. Changes in liquidity, capital, interest rates, and currency exchange policies and credit rates, tax and inflation rates.
- If the competent authorities carried out changes in the existing laws, licenses, investment rules, taxes, legal reserve policies, among others, as well as legal contingencies and procedures in which the Company shall have to resort into legal process, in order to enforce its legal rights.
- In the event of any financial entities employed such as the Bank, the Securities Custodian, Investment Managers, Traders, and/or Money Managers declare bankrupt and/or a liquidation process, the account will remain temporarily frozen, which could cause losses.
- The Client declares that his/her financial status is solvent and asserts that in this account only risk capital will be used.
- The Client declares that he/she has determined that this investment/Trading alternative along with its risks adjusts itself to his/her particular circumstances.
- The Client accepts that everything reflected in any of the Traders brochures or presentations is not a rule to be fulfilled, and that historical returns are no guarantee on future returns.
- The Client declares to understand that investments and/or Trading results from the Traders may generate higher losses or lower profits than their projections.
- The Company does not guarantee any return and is not responsible for any losses on the account of the Client as a result of the trades that were performed by the Client and/or Trader.
- The Client accepts that Traders may receive a percentage on the returns generated. These charges may be performed on a monthly basis and only on new highs. In the event that after these monthly charges the account falls into loss, the Client has no right to claim the amount already charged.
- The Client accepts that the Company is not liable for any losses or damages caused as a result of the Traders actions or inactions.
- The Client declares to understand the nature of the account and confirms to be able, financially and otherwise, to assume the risks and contingencies involved in trading and/or investing in the Financial Markets including the possibility of the loss of principal, capital and profits.
- The Client agrees to indemnify and hold the Company, its Affiliates, Introducing Brokers and Officers, harmless from any liability, losses or damages caused by transactions made on the Account and/or any kind of risks and contingencies.
- The Client agrees never to attempt to hold the Company, its Affiliates, Introducing Brokers and Officers liable for the Clients and/or third party authorized Trader’s/Money Manager’s actions or inactions, including but not limited to all losses, damages, costs and/or expenses, indebtedness and liabilities (including attorneys’ fees) arising there from.
- The Client agrees and acknowledges that the Company, its Affiliates, Introducing Brokers and Officials are not responsible whatsoever for any liability, damages or losses as a result of the actions or inactions of the Client or the Trader.