MISCELLANEOUS

  1. INTRODUCTION

    1. Hiway Capital ltd (hereinafter referred to as the ‘Firm’) is an investment firm that operates as a global broker.
    2. The Firm is incorporated (Certificate of Incorporation No. 21980) in Saint Vincent and the Grenadines through the Registrar of International Business Companies.
  2. AKNOWLEDGEMENT

    1. ​The Client acknowledges that he/ she read, understood and accepted the Terms and Conditions of Business (‘the Terms and Conditions’), as amended from time to time in addition to any information contained within the Firm’s website, including but not limited to the ‘Legal Information’ and the ‘Legal Documentation’ as well as the ‘Order Execution Policy’ available online at www.hiwayfx.com/terms-conditions. THE CLIENT AGREES THAT USING THE SERVICES PROVIDED BY THE FIRM AND/OR ANY SOFTWARE INDICATES THAT HE/SHE HAS READ ALL OF THE ABOVE, UNDERSTOOD THEM AND AGREED TO BE BOUND BY THEIR PROVISIONS.
    2. By accepting the Terms and Conditions, the Client enters into a binding legal agreement with the Firm
    3. The Client acknowledges that the Firm’s official language is the English language.
  3. SCOPE OF THE TERMS AND CONDITIONS OF BUSINESS

    1. ​The Terms and Conditions govern all the actions that relate to the execution of the Client’s orders
    2. The Terms and Conditions are non-negotiable and override any other agreements, arrangements, express or implied statements made by the Firm unless the Firm determines - in its sole discretion- that the context requires otherwise. If the Terms and Conditions were to be amended, reasonable notice shall be given by the Firm to the client.
    3. The Distance Marketing of Consumer Financial Services Law N.242 (I)/2004, which implements EU Directive 2002/65/EC, does not require the Terms and Conditions to be signed by either the Firm or the client in order for both the Firm and the client to be legally bound by it.
  4. INTERPRETATION OF TERMS

    1. ​Unless indicated to the contrary, the defined terms included in the present document shall have a specific meaning and may be used in the singular or plural as appropriate
      • ASK: Shall mean the price at which the Firm is willing to sell a CFD
      • Access Codes: the username and password given by the Firm to the Client for accessing the Firm’s electronic systems
      • Authorised Representative: Shall mean either the natural or legal person who is expressly authorized by the client to act on his/ her behalf; the above mentioned relationship is documented through a Power of Attorney, a copy of which is held by the Firm.
      • Balance: Shall mean the funds available in a trading account that may be used for trading financial instruments.
      • Balance Currency: Shall mean the currency that the trading account is denominated in; it should be noted that all charges including spreads, commissions and swaps, are calculated in that currency.
      • Base Currency: Shall mean the first currency represented in a currency pair, for example in the EURUSD currency pair the base currency is the EUR.
      • Bid: Shall mean the price at which the Firm is willing to buy a CFD
      • Client: Shall mean either the natural or legal person who receives an e-mail notification that contains the trading account number and or access codes.
      • Closed Position: Shall mean the opposite of an open position
      • Contract for Difference (CFD): Shall mean a CFD on spot foreign exchange (‘FX’), or a CFD on shares, or a CFD on spot metals, or a CFD on futures or any other CFD related instrument that is available for trading through a trading platform; a full list of the financial instruments is available online at www.hiwayfx.com/trading-instruments
      • Contract Specifications:Each lot size or each type of CFD as well as all necessary trading information concerning spreads, margin requirements etc, as determined in the Firm’s main website
      • Declared Price: Shall mean the price that the client requested for either an instant execution or pending order.
      • Equity: Shall mean the balance of a Trading Account plus or minus any profit or loss that derives from any open positions.
      • Free Margin: Shall mean funds that are available for opening a position. It is calculated as: Free Margin = Equity - Margin
      • Instant Execution Order: Shall mean an order that is executed at the price that appears on the screen at the time that the Client sends the instruction for trading through the Firm’s Platform.
      • Lot: Shall mean the unit that represents the volume of a transaction.
      • Margin: Shall mean the required funds available in a trading account for the purposes of maintaining an open position
      • Margin Call:a state of the trading account when the Firm has the right but is not obliged to close all open trades of the Client due to insufficient funds (free margin).
      • Margin Level: Shall mean the Equity to Margin ratio calculated as: Margin Level = Equity / Margin x 100
      • Open Position: Shall mean any position that has not been closed.
      • Order: Shall mean the request for the transaction execution.
      • Pending Order: Shall mean either a buy stop, or sell stop, or buy limit, or sell limit or stop loss or take profit order.
      • Spread: Shall mean the difference between the purchase price (rate) and the sale price (rate) of the CFD contract at the same moment
      • Stop Loss: Shall mean an instruction that is attached to an instant execution or pending order for minimising loss
      • Stop out :is the margin level in %, at which the trading platform starts to automatically close trading positions (starting from the least profitable position) in order to prevent further account losses causing the account balance become negative
      • Take Profit: Shall mean an instruction that is attached to an instant execution or pending order for securing profit
      • Trading Account: Shall mean the account, which has a unique number, maintained by a client for the purposes of trading financial instruments through the Firm’s Platform.
      • Value Date: Shall mean the delivery date of funds
      • Variable Currency: Shall mean the second currency represented in a currency pair, for example in the EURUSD currency pair the variable currency is the USD
  5. PROVISION OF SERVICES

    1. ​The Firm provides investment and ancillary services (the “Services”) to the Client.
    2. The Client acknowledges that the Services do not include the provision of investment advice. Any investment information as may be announced by the Firm to the Client does not constitute investment advice but aims merely to assist him/her in his/her investment decision making. No information provided by the Firm shall be deemed as an assurance or guarantee on the expected results of any transaction. The Firm retains the right to , from time to time and as often as it deems appropriate, issue material (‘the Material’), which contains information including but not limited to the conditions of the financial market, published through its website or disseminated via other media. It should be noted the Material is considered to be marketing communication only and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments
    3. The Client agrees and acknowledges that he/she is solely responsible for any investment strategy, transaction or investment, composition of any account and taxation consequences and he/she shall not rely, for this purpose on the Firm. It is also understood and accepted that the Firm shall bear absolutely no responsibility, regardless of the circumstances, for any such investment strategy, transaction, investment or information.
    4. The Client accepts that any orders placed with the Firm for the Financial Instrument of Contracts for Differences (CFDs), the Firm acts as the principal and the Firm is the sole Execution Venue which is a non-regulated market.
    5. The Client may trade through his/ her trading account from 00.00.01 (GMT+2) on a Monday until 00.00.00 (GMT+2) on a Friday. Client must note that trading of certain financial instruments occurs during specific timeframes; the Client is responsible for looking at the contract specifications of such instruments for further details, prior to trading.
    6. The Firm offers, on an execution-only basis, a number of financial instruments to the client the contract specifications of which are available online at www.hiwayfx.com/trading-instruments. The trading conditions and execution rules of the financial instruments on offer by the Firm can be found online at any given time. The Firm reserves the right to amend, from time to time, both the trading conditions and execution rules. Even if the Firm amends any part of the trading conditions and/ or execution rules the Client continues to be bound by these Terms and Conditions.
  6. ASSURANCES AND GUARRANTEES

    1. ​The Client states, affirms and guarantees that: (a) whatever money handed over to the Firm belongs exclusively to the Client, free of any lien, charge, pledge and any other encumbrance, (b) are no direct or indirect proceeds of any illegal act or omission or product of any criminal activity and (c) he/she acts for himself/herself and not as a representative or a trustee of any third person, 4 unless he/she has produced, to the satisfaction of the Firm, a document and/or powers of attorney enabling him/her to act as representative and/or trustee of any third person.
    2. The Client assures and guarantees all documents handed over to the Firm as authentic and valid both in the Trading Account opening process and for as long as the Trading Account will remain open.
    3. The Client agrees and understands that the Firm reserves the right to refund/send back to the remitter (or beneficial owner) any amounts received under sections 6.1 (a) and (b) above, having sufficient proof that these amounts are direct or indirect proceeds of any illegal act or omission or product of any criminal activity and/or belong to a third party and the Client has not produced sufficient excuse for that, and consents that the Firm may reverse any or all types of previous transactions performed by the Client in any of his/her trading accounts and terminate the agreement as per these Terms and Conditions. The Firm reserves the right to take any legal action against the Client to cover itself upon such an event and claim any damages caused to the Firm by the Client as a result of such an event.
  7. CLIENT’S MONEY

    1. ​Any money received by the Client will be deposited by the Firm in an Institution. The money will always be treated as belonging to the Client and the Firm will exercise all reasonable care and diligence to the selection of the Institution.
    2. The Client’s money will be pooled with money belonging to other clients which means that an individual Client will not have a claim against a specific sum in a specific account, in the event of insolvency. The Client’s claim will be against the client money pool in general.
    3. The Firm is not in any way obligated to pay the Client any kind of interest on the money deposited and the Client has the right to withdraw at any time funds equal to the Free Margin available in a specific Trading Account. The Client acknowledges that such request may take up to 10 business days to be processed.
    4. The Client accepts that money received by the Firm will be deposited in Client’s Trading Account on the value date received by the Institution net of any transfer fees and or other charges imposed by the Institution holding the funds.
    5. The Client can be informed about the processing times for deposits/withdrawals through the Firm's official website: https://www.hiwayfx.com/account-deposit-methods. The Firm will not be liable for any delays, loss or expense experienced or incurred by the Client in connections with, or directly or indirectly arising from acts, omissions or negligence of any third party including but not limited to financial institutions or payment processing service providers.
    6. Furthermore the Client accepts that funds shall be deposited in his/her Trading Account only the Firm is satisfied that the Sender is the Client or his/ her authorised representative. If the Firm is not satisfied as to the above then the Firm has the right to reject the funds and return them to the remitter net of any transfer fees or other charges incurred by the Firm, using the same transfer method as the one through which it originally received the funds.
    7. Client accepts that that withdrawal of any part of the funds shall be concluded using the same transfer method and the same remitter as the one which the Firm originally received the funds from.
    8. The Firm retains the right to decline a withdrawal that the Client requested using a specific transfer mode and suggest an alternative.
    9. The Client accepts that the Institution may reverse any part of the funds, for any reason; as a result, the Firm shall immediately reverse the respective amount from the trading account net of any transfer fees or other charges incurred by the Firm, using the same transfer method as the one through which it originally received the Funds. In the case that this results in a negative balance the Firm has the right to merge the funds held in different Trading Accounts of the same Client.
    10. Maintenance Fees may be charged on the balance of Trading Account in case such Trading Account is idle (no Trades executed) for a period exceeding 30 calendar days. The Fees shall amount to 1% of the account balance or 3 units of the account currency, whichever is higher.
  8. ELECTRONIC TRADING

    1. ​Once the Client accepts the Terms and Conditions and receives the Trading Account’s Access Codes email, the Client shall download and install the trading platform software (‘the Software’) available online at www.hiwayfx.com/platforms and will use the Access Codes to enable his/her log – in to the trading platform for the purposes of sending and/or amending instructions for trading in CFDs.
    2. The Client shall be solely responsible for any instructions sent and/ or received through the trading platform from the Client or his/ her authorised representative.
    3. The Client shall ensure that his/ her Access Codes remain confidential at all times. If, under any circumstances, the Client reveals the Access Codes to either a natural or legal person, other than his/ her authorised representative, the Firm shall bear no responsibility for any loss that arises, including but not limited to financial loss, as a result of such actions. The Client is obligated to immediately inform the Firm if it comes to his/ her attention that the Access Codes have been used, either for trading or other purposes, without his/ her express consent. The client accepts that the Firm has no means to identify whether a person, logging-in to the trading platform, is doing so as the Client or with Client’s express consent.
    4. The client accepts that the Firm reserves the right to terminate the client’s access to the trading platform in order to ensure and/ or restore the orderly operation of the trading platform and protect the interests of both the clients and the Firm. If the following circumstances occur the Firm may, at its discretion, close any of the Client’s Trading Account(s):  
      • a violation of any part of the Terms and Conditions on behalf of the Client;
      • an issuance of an application, order, resolution or other announcement in relation to bankruptcy or winding-up proceedings that involves the Client;
      • Client’s death; and
      • Client involving the Firm in any type of fraud.
    5. The Client accepts that the Firm bears no responsibility if either a natural or legal person attains through unauthorised access any information, including information regarding client’s trading, whilst such information is being transmitted from the Client to the Firm (or any other party authorised by the Firm) and vice versa; such transmission may either occur through electronic or other means
    6. The Client accepts that the Firm bears no responsibility for any loss, including but not limited to financial loss, incurred by the client due to the inability of the latter to access the trading platform if this has been caused: (i) due to the Client’s failure to maintain the Software updated as required or (ii) due to any other mechanical, software, computer, telecommunications or electronic system failure that could not have been controlled by either the client or the Firm.
    7. The Firm is responsible to maintain its trading platform and other related systems updated; therefore, the client accepts that the Firm or a relevant third party may, from time to time, perform maintenance that may include shutting down, restarting, or refreshing the servers to ensure the effective and efficient operation of the trading platform or other related systems; these actions may cause the trading platform or other related systems to being inaccessible for a period of time. The Client accepts that the Firm bears no responsibility for any loss, including financial loss, caused due to any of the above.
    8. The Client accepts that the Firm is not an internet service or electricity provider; consequently, the former accepts that Firm is not responsible for any failure to provide an investment or ancillary service, if such failure 6 arises as a direct or an indirect result of an internet service or electricity failure.
    9. If for any reason the client is unable to access the trading platform in order to send an instruction for the purposes of trading financial instruments he/ she may contact the Orders Execution Department at rto@hiwayfx.com or call (support phone number can be found on contact us page of the website) to place a verbal instruction, subject to the following restrictions: 
      • The telephone calls may be recorded and kept as records and the Firm retains the right to use them as it deems necessary or in order to resolve a dispute between the Client and Firm.
      • The Firm may provide copies of these recordings to any Regulatory Authority without informing the Client prior to such an event.
    10. The Firm reserves the right to reject such verbal instruction when the operator of the Orders Execution Department is not satisfied with the Client’s identify or clarity of instructions; under such circumstances, the Firm reserves the right to request from the client to transmit an instruction through another mean. The Client accepts that at times of excessive transaction flow there might be some delay in connecting over the telephone with a member of the Orders Execution Department, especially when there are important market announcements
    11. The Client understands and agrees the Firm is the sole counterparty and therefore the Client will not bring any legal action, whether in tort, including negligence, breach of contract or otherwise, to any third party software and/or technology providers whose products and services assist in providing the platform to the Client.
  9. INSTRUCTIONS – ORDERS

    1. ​The Firm will, in certain circumstances, accept instructions, by telephone or in person, provided that the Firm is satisfied, at its full discretion, of the caller’s identity and clarity of instructions. In case of an order received by the Firm in any means other than through the electronic Trading Platform, the order will be transmitted by the Firm to the electronic Trading Platform and processed as if it was received through the electronic Trading Platform.
    2. The Firm reserves the right, at its discretion, to confirm in any manner the instruction and/or Orders and/or communications sent through the Communication System. The Client accepts the risk of misinterpretation and/or mistakes in the instructions and/or Orders sent through the Communication System, regardless of how they have been caused, including technical and/or mechanical damage.
    3. The Client has the right to authorize a third person to give instructions and/or orders to the Firm or to handle any other matters related to this agreement, provided that the Client has notified the Firm in writing, of exercising such a right and that this person is approved by the Firm fulfilling all of Firm ’s specifications for this. Unless the Firm receives a written notification from the Client for the termination of the said Authorised Representative, the Firm will continue accepting instructions and/or orders given by this person on behalf of the Client and the Client will recognize such orders as valid and committing. The above written notification for the termination of the Authorised Representative has to be received by the Firm with at least 2 days’ notice.
    4. Once the Client’s instructions or Orders are given to the Firm, they cannot be revoked. Only in exceptional circumstances the Firm may allow the Client to revoke or amend the relevant instruction or Order. The Firm has the right to proceed to a partial execution of the Client’s Orders.
    5. The transaction (opening or closing a position) is executed at the "BID" / "ASK" prices offered to the Client. The Client chooses desirable operation and makes a request for the transaction confirmation by the Firm. The 7 transaction is executed at the prices the Client can see on the screen. Due to the high volatility of the markets during the confirmation process the price may change, in this case the order shall be executed at a price prevailing on the market at the time of execution.
    6. The Client, using electronic access, can give give instructions for Market Execution Orders or for Pending Orders: 
      • OPEN – to open a position;
      • CLOSE – to close an open position;
      • To add, remove, edit orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop.
        It should be noted that a stop loss and/ or take profit may be attached to an instant execution or pending order.
    7. Any other Orders are unavailable and are automatically rejected. The confirmed open or closed position cannot be cancelled by the Client.
    8. Orders can be placed, executed, changed or removed only within the operating (trading) time and shall remain effective through the next trading session. The Client’s Order shall be valid in accordance with the type and time of
      the given Order, as specified. If the time of validity of the order is not specified, it shall be valid for an indefinite period.
    9. The Firm shall not be held responsible in the case of delays or other errors caused during the transmission of Orders and/or messages via computer, as well as for damage which may be caused by the non-validity of securities, or a mistake in the bank account balance of the Client. The Firm shall not be held responsible for information received via computer or for any loss which the Client may incur in case this information is inaccurate.
    10. The Firm reserves the right to change the opening/closing price (rate) and/or size and/or number of the related transaction (and/or the level and size of any Sell Limit, Buy Limit, Sell Stop, Buy Stop order) in case of any underlying asset of the CFD becomes subject to possible adjustment as the result of any event set out in Paragraph 9.12 below (hereinafter called a “Corporate Event”). This operation is applied exclusively to securities and has a meaning to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event. All actions of the Firm according such adjustments are conclusive and binding upon the Client. The Firm shall inform the Client of any adjustment as soon as reasonably practicable.
    11. While a Client has any open positions on the ex-dividend day for any of underlying asset of the CFD, the Firm reserves the right to close such positions at last price of the previous trading day and open the equivalent volume of the underlying security at first available price on the ex-dividend day. In this case the Firm has to inform the Client by internal mail in trading terminal about the possibility of such actions not later than the closing of the trading session prior to the ex-dividend day.
    12. ”Corporate Events” are the declarations by the issuer of the underlying asset of the CFD of the terms of any of the following but not limited to: 
      • a subdivision, consolidation or reclassification of shares, a share buyback or cancellation, or a free distribution of shares to existing shareholders by way of a bonus, capitalization or similar issue;
      • a distribution to existing holders of the underlying shares of additional shares, other share capital or securities granting the right to payment of dividends and/or proceeds of liquidation of the issuer equally proportionately with such payments to holders of the underlying shares, or securities, rights or warrants granting the right to a distribution of shares or to purchase, subscribe or receive shares, in any case for payment (in cash or otherwise) at less than the 8 prevailing market price per share as determined by the Firm ;
      • any other event in respect of the shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of the shares
    13. Pending Orders on CFD contracts are executed at the declared by the Client price on the first current price touch. The Firm reserves the right not to execute the order, or to change the opening (closing) price of the transaction in case of the technical failure of the trading platform, reflected financial tools quotes feed, and also in case of other technical failures.
    14. Under certain trading conditions it may be impossible to execute Pending orders on any CFD contract at the declared price. In this case the Firm has the right to execute the order or change the opening (closing) price of the transaction at a first available price. 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. Or this may occur in the trading session start moments. So as a result, placing a stop—loss order will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price.
    15. The Client may submit to the Firm in writing by e-mail, fax or by hand, his objection to the execution or the non-execution or the mode of execution of a transaction and/or Order concluded on his behalf within two (2) working days from the conclusion of the transaction. Otherwise the transaction will be considered valid and binding for the Client.
    16. The Firm reserves the right to close Client's open positions without prior notification if the current Margin Level of the Trading Account is less than 100% of the margin necessary to maintain open positions (Margin Call).
    17. At Margin level equal or below the stop-out level the Firm will commence automatic closure of open positions at market price starting with the most lossmaking position.
    18. In case of force-majeure, hacker attacks and other illegal actions against the servers of the Firm and also a suspension of trade in the financial markets concerning Financial Instruments offered by the Firm, the Firm may, suspend, freeze or close the Client positions and request the revision of the executed transactions.
    19. All price levels in the trading terminal are determined at the Firm’s discretion. Any references of the Client to prices of other trading or information systems shall be disregarded.
    20. Trading operations using additional functions of the client trading terminal such as Trailing Stop or Expert Adviser are executed completely under the Client’s responsibility, as they depend directly on the Client trading terminal and the Firm bears no responsibility whatsoever
    21. The 1 (one) standard lot size is the measurement unit specified for each CFD traded in the Electronic Trading Platform. The Firm reserves the right to change the Contract Specifications at any time depending on the market situation. The Client agrees to check the full specification of the CFD before placing any order.
    22. The Firm has the right at its discretion to increase or decrease spreads on CFDs depending on market conditions.
  10. REFUSAL TO EXECUTE ORDERS

    1. ​The Client accepts that the Firm shall have the right, at any time, to refuse at its discretion the provision of any investment or ancillary service, including but not limited to the execution of instructions for the purposes of trading financial instruments, without providing notice to the client, amongst other and in the following cases: 
      • The Firm has reasonable reasons to believe that the execution of such Order would affect the orderly function of the market or aims at or may aim at manipulating the market of the Financial Instruments;
      • The Order constitutes an abusive exploitation or privileged confidential information;
      • The Order contributes to the legalisation of proceeds from illegal acts or activities (money laundering);
      • Execution of the Order will affects the orderly function or reliability of the Trading Platform;
      • The requested Order relates to a purchase of a financial instrument but Client’s funds are not sufficient to cover such purchase and applicable charges.
      • If a technical or other error occurs
    2. The Client declares that he shall not knowingly give any Order or instruction to the Firm that might instigate the Firm to refuse execution of the Order.
    3. If the Firm believes that the Client has performed any Disallowed Trading Activity, the Firm has the absolute right without any prior notice to the Client, to immediately close and/or cancel the result of any executed orders involved in this activity.
  11. SETTLEMENT OF TRANSACTIONS

    1. ​The Firm shall proceed to a settlement of all transaction upon execution of such transactions.
    2. A statement of Account will be provided by the Firm to the Client on a monthly basis. Any confirmation or proof for any act or statement of account or certification issued by the Firm in relation to any transaction or other matter shall be final and binding on the Client, unless the Client has any objection in relation to such statement of account or certification and the said objection is filed in writing and received by the Firm within two (2) working days from the receipt or the deemed date of receipt of any statement of account or certification.
    3. In the case where the Client is able to have an online statement for his account on a continuous basis, then the Firm is considered as having fulfilled its obligations under Paragraph 12.2 and any objections of the Client shall be valid only if received by the Firm in writing within 2 working days from the transaction under objection.
  12. COMPLAINTS HANDLING PROCEDURE

    1. ​Complaints shall be addressed to the Customer Support Department at support@hiwayfx.com. Customer Support Department shall thoroughly examine any complaints as required, taking into account any information contained within the books and
      records of the Firm, including but not limited to the Client’s trading account journal.
    2. A complaint shall include the Client’s name and surname, the Client’s trading account number, the affected transaction numbers (if applicable), the date and time of the incident and a brief description of the incident and issue arising.
    3. A complaint shall include the Client’s name and surname, the Client’s trading account number, the affecIf under any circumstances the complaint in question requires further investigation, the Client shall be notified by the Firm within 5 working days. ed transaction numbers (if applicable), the date and time of the incident and a brief description of the incident and issue arising.
  13. FIRM’S FEES

    1. ​The Firm is entitled to receive fees from the Client for its Services provided as described in the Agreement as well as compensation for the expenses it will incur for the obligations it will undertake during the execution of the said Services. The Firm reserves the right to modify, from time to time, the size, the amounts and the percentage rates of its fees and the Client will be informed accordingly.
    2. The Client shall pay the Firm, immediately when so requested by the latter and the Firm is entitled to debit the account of the Client with any tax, contribution or charge which may be payable as a result of any transaction which concerns the Client or any act or action of the Firm under the Agreement (excepting taxes payable by the Firm in relation to the Firm’s income or profits).
    3. The Firm shall have a lien on all the amounts which are deposited in the accounts stated in Paragraph 7 above and on statements of Financial Instruments of the Client, to the extent that there remain amounts due by the Client to the Firm. Before the exercise of the said right, which doesn’t need the Client’s consent, the Firm shall give the Client notice 10 stating its intention to exercise the lien, as well as the deadline upon the expiry of which the Firm shall exercise the said right.
    4. In case the Client fails to pay any amount by the date on which the said amount is payable, the Firm shall be entitled to debit the accounts of the Client stated in Paragraph 7 above with the said amount and/or liquidate in the name of the Client any of the Client’s Financial Instruments in view of covering the aforementioned amount.
    5. By accepting the terms and conditions the Client has read and understood and accepted the information under the title “CONTRACTS SPECIFICATIONS” as this information is loaded on the Firm’s main website public and available for all Clients, in which all related commission, costs and financing fees are explained. The Firm reserves the right to amend at discretion all such commission, costs and financing fees and proper information on such amendments will be available on the main website which the Client must review during the period the Client is dealing with the Firm and especially before placing any Orders to the Firm.
  14. DURATION OF THE AGREEMENT AND AMENDMENTS

    1. ​This Agreement shall take effect upon the first funding of the Client’s account, provided that the Firm has sent the Client written confirmation for his/her acceptance. It shall be valid for an indefinite time period until its termination by virtue of the provisions of Paragraph 15.
    2. The Firm reserves the right to amend, from time to time, any part of the present Agreement, especially if the Firm deems that such amendments are necessary given an announcement by a regulatory authority of a competent jurisdiction. Under such circumstances, the Client shall be notified either in writing or through the Firm’s site (www.hiwayfx.com) accordingly and shall reserve the right to accept or deny the amendments; it should be noted that the Client’s consent is not required for any amendment to be effective immediately.
  15. TERMINATION

    1. ​The Client has the right to terminate the Agreement by giving the Firm at least five (5) days written notice, specifying the date of termination in such, on the condition that in the case of such termination, all pending transactions on behalf of the Client shall be completed. The first day of the notice shall be deemed to be the date such notice has been received by the Firm.
    2. The Firm may terminate the Agreement by giving the Client at least five (5) days written notice, specifying the date of termination in such.
    3. The Firm may terminate the Agreement immediately without giving any notice in the following cases: 
      • Death of the Client; 
      • If any application is made or any order is issued or a meeting is convened or a resolution is approved or any measures of bankruptcy or winding up of the Client are taken; 
      • Such termination is required by any competent regulatory authority or body; 
      • The Client violates any provision of the Agreement and in the Firm’s opinion, the Agreement cannot be implemented; 
      • The Client violates any law or regulation to which he is subject, including but not limited to, laws and regulations relating to exchange control and registration requirements; 
      • The Client performs Disallowed Trading Activity on his Trading Account.
    4. The termination of the Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, the Client shall pay: 
      • Any pending fee of the Firm and any other amount payable to the Firm; 
      • Any charge and additional expenses incurred or to be incurred by the Firm as a result of the termination of the Agreement; 
      • Any damages which arose during the arrangement or settlement of pending obligations.
    5. In case of breach by the Client of Paragraph 16.3, the Firm reserves the right to reverse all previous transactions which places the Firm’s interests and/or all or any its Clients interests at risk before terminating the agreement.
    6. The Client reserves the right to terminate the present Agreement within 15 (fifteen) business days from the announcement of an amendment as per paragraph 15 above, by sending a notification through registered post to the Firm’s Head Office, given that there are no open positions traded through the relevant trading account and the Client has no outstanding obligations to the Firm.
  16. FIRM LIABILITY

    1. ​The Firm shall conclude transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by any person, physical or legal from whom the Firm receives instructions for the execution of the Client’s Orders and/or from which transactions are carried out on behalf of the Client, unless to the extend where this would be the result of negligence, deliberate omission or fraud on the part of the Firm.
    2. The Firm shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to deliberate omission or fraud by the Firm or its employees.
    3. If the Firm incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Firm or due to the non - fulfilment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Firm bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Firm for such.
    4. The Firm shall not be held liable for any loss which is the result of deceit in relation to the facts or mistaken judgment or any act done or which the Firm has omitted to do, whenever it arose, unless to the extent that such deceit or
      act or omission is due directly to deliberate omission or fraud by the Firm or its employees.
    5. The Firm shall be held liable, to the extent that this is permissible under the Agreement, for the deposit of cash in its possession or which it will receive at any time on behalf of the Client in the Bank Account, but it shall not be held liable in relation to any omission, negligence, deliberate omission or fraud by the bank where the Bank Account is maintained
    6. The Firm shall not be held liable for the loss of financial instruments and funds of the Client, including the cases where the Client’s assets are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information.
  17. CONFIDENTIALITY AND PERSONAL DATA PROTECTION

    1. ​The Firm shall not disclose to a third party, any of the Client’s confidential information unless required to do so by a regulatory authority of a competent jurisdiction; such disclosure shall occur on a ‘need-to-know’ basis, unless otherwise instructed. Under such circumstances, the Firm shall expressly inform
    2. The Client accepts and consents that the Firm may, from time to time, contractually engage companies for statistical purposes in order to improve the Firm’s marketing; as a result, some or all of the client’s personal data may be disclosed on an anonymous and aggregated basis only. 
    3. The Client accepts that the Firm may need to disclose the Client’s Personal Data to third party service providers in the context of the provision of specific services to the Client. The Firm shall not release the Client’s data without informing the Client in advance and without obtaining his consent via an opt-in mechanism to participate in or use the third party service provider’s services
  18. CONFLICT OF INTEREST

    1. ​The Firm declares that it takes all necessary measures, where possible, in order to anticipate or solve any conflicts of interest between, on the one hand itself and its associated persons and Clients and on the other hand, between its Clients.
    2. However, the Firm draws the Client’s attention to the following possibilities of a conflict of interest: 
      1. The Firm and/or any associated Firm and/or any Firm which is a member of the group of companies to which the Firm belongs to, might: 
        • Enter itself into an agreement with the Client in order to execute his/her Order; 
        • Be an issuer of the Financial Instruments in which the Client wishes to conclude a transaction; 
        • Act on its behalf and/or for another client as purchase and/or seller and may have an interest in the Financial Instruments of the issuer in which the Client wishes to conclude a transaction; 
        • Act as market maker, consultant and investment manager and/or have any trading or other relationship with any issuer; 
        • Pay a fee to third persons who either recommended the Client to the Firm or who mediated in any way so that the Client’s Orders are forwarded to the Firm for execution.
      2. The Firm may execute different orders (even contrary to one another) on behalf of different clients.
  19. NOTICES

    1. ​Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other communications to be given to the Firm by the Client under the Agreement shall be in writing and shall be sent to the Firm’s mailing address which appears on the first page of the Agreement or to any other address which the Firm may from time to time specify to the Client for this purpose and shall take effect only when actually received by the Firm, provided they do not violate and are not contrary to any term of this Agreement.
    2. The Firm reserves the right to specify any other way of communication with the Client.
    3. The Agreement is personal to the Client who does not have the right to assign or transfer any of his rights and/or obligations hereunder.
    4. The Firm may, at any time, assign and/or transfer to any legal or natural person any of its rights and/or obligations as they arise or are provided for in the Agreement.
    1. ​The Client acknowledges that no representations were made to him by or on behalf of the Firm which have in any way incited or persuaded him/her to enter into the Agreement.
    2. If the Client is more than one person, the Client’s obligations under the Agreement shall be joined and several and any reference in the Agreement to the Client shall be construed, where appropriate, as reference to one or more of these persons. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client
    3. In case any provision of the Agreement is or becomes, at any time, illegal void or unenforceable in any respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
    4. The Client shall take all reasonably necessary measures (including, without prejudice to the generality of the above, the execution of all necessary documents) so that the Firm may duly fulfill its obligations under the Agreement.
    5. The Client undertakes to pay all stamp expenses relating to the Agreement and any documentation which may be required for the execution of the transactions under the Agreement.
    6. The location of detailed information regarding the execution and conditions for the investment transactions in CFDs markets conducted by the Firm, following Terms and Conditions, and also the other information regarding activity of the Firm are accessible and addressed to any natural persons and legal entities at the Firm’s main website over the Internet — www.hiwayfx.com JURISDICTION
  20. JURISDICTION

    1. This Agreement and all transactional relations between the Client and the Company are governed by the Laws of Saint Vincent and the Grenadines and the competent court for the settlement of any dispute which may arise between them shall be the District Court of the district in which the Company’s headquarters are located.
  21. IMPORTANT ACKNOWLEDGMENTS

    1. ​The Client unreservedly acknowledges that CFDs are not eligible for sale in certain jurisdictions or countries. This Agreement is not directed to any jurisdiction or country where its publication, availability or distribution would be contrary to local laws or regulations, including the United States of America and Canada. This Agreement does not constitute an offer, invitation or solicitation to buy or sell CFDs and is not intended to constitute the sole basis for the evaluation of the Client’s decision to trade in CFDs.
    2. The Client unreservedly acknowledges and accepts that, regardless of any information which may be offered by the Firm, the value of any investment in Financial Instruments may fluctuate downwards or upwards and it is even probable that the investment may become of no value.
    3. The Client unreservedly acknowledges and accepts that he runs a great risk of incurring losses and damages as a result of the purchase and/or sale of any Financial Instrument and accepts and declares that he is willing to undertake this risk.
    4. The Client declares that he/she has read, comprehends and unreservedly accepts the following:
      • 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.
      • Some Financial Instruments may not become immediately liquid as a result e.g. of reduced demand and the Client may not be in a position to sell them or easily obtain information on the value of these Financial Instruments or the extent of the associated risks.
      • When a Financial Instrument is traded in a currency other than the currency of the Client’s country of residence, any changes in the exchange rates may have a negative effect on its value, price and performance.
      • A Financial Instrument on foreign markets may entail risks different to the usual risks of the markets in the Client’s country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations.
      • CFDs are a non-delivery spot transaction giving an opportunity to make profit on changes in currency rates, commodity, stock market indices or share prices called the underlying instrument.
      • The value of the CFDs is directly affected by the price of the security or any other underlying asset which is the object of the acquisition.
      • The Client must not purchase CFDs unless he/she is willing to undertake the risks of losing entirely all the money which he/she has invested and also any additional commissions and other expenses incurred.
    5. The Client acknowledges that CFDs are complex financial products, which have no set maturity date. Therefore, a CFD position matures on the date a client chooses to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of the client’s invested capital. Interest is not guaranteed. As a result, CFDs may not be suitable for all individuals. The Client should not risk more than he/ she is prepared to lose. Before deciding to trade, the Client shall ensure that he/she understands the risks involved and take into account his/her level of experience. The Client may seek independent advice, if necessary.
    6. The Client acknowledges and accepts that there may be other risks which are not contained in this Paragraph 21.
  22. FORCE MAJEURE EVENT

    1. ​The Firm shall, take all reasonable steps in order to inform the Client of a force majeure event. A force majeure event is as an event or circumstance, including but not limited to any natural, technological, political, governmental, social, economic or similar event or circumstance that occurred after a transaction in a financial instrument occurred and such event or circumstance has not been anticipated at the date of entering into the transaction. In addition to the above, a force majeure event may include instances of illegitimate actions against the Firm’s servers that may be outside the control of the Client or Firm.
    2. If the Firm determines that a force majeure event occurred, without prejudice to any other rights of the Client under this Agreement, the Firm may: 
      • increase margin requirements; and/ or 
      • increase spreads; and/ or 
      • decrease leverage; and/ or 
      • close-out, in good faith, any open positions at a price that the Firm considers reasonable; and/ or 
      • request amendments to any closed positions; and/ or 
      • suspend the provision of investment and/ or ancillary services to the client; and/ or 
      • amend any of the content of this Agreement on the basis that it is impossible for the Firm to comply with it.
  23. REPRESENTATIONS, WARRANTIES AND DECLARATION BY CLIENT

    1. ​By pressing the CONTINUE button, I/we, the Client represent that I/we have not been coerced or otherwise persuaded to enter into this Agreement and that I/we have read and fully understood all terms and conditions as these are referred herein
    2. I/We declare that I/we am/are over 18 (eighteen) years of age (in case the Client is a natural person); or We have full capacity (in case the Client is a legal person); Therefore, I/we am/are capacitated to enter into this Agreement.
    3. I/We accept that the Firm reserves the right to revoke at any time, without prior written notice, any Power of Attorney documents that govern my/our relationship with mine/our Authorised Representative.
    4. I/We declare that I/we am/are fully aware of any implications, including but not limited to any restrictions, set by my/our local jurisdiction in relation to entering this Agreement.
    5. I/We declare that any trading in financial instruments is proportional and/ or reasonable to my/our specific financial situation and that independent financial advice has been sought, or will be if necessary.
    6. I/We accept the contract specifications for each financial instrument as such specifications, are available online at www.hiwayfx.com/trading-instruments. In addition, I/we accept that the Firm reserves the right to change the contract specifications without giving me/us prior written notice.
    7. I/We accept that the Firm shall take all reasonable steps to ensure compliance with applicable rules and regulations; such reasonable steps shall be binding upon me/us.
    8. I/We represent that if an amount is due for payment to the Firm, the later shall be entitled to debit my/our trading account, accordingly