The agreement with the trader for giving access to the trading platform
This agreement exists in two language variants - Russian and English. The main agreement is considered to be the one published in English.
1. This Agreement is negotiated between:
1.1. The HBC Broker Company (registered as MPG INVEST LIMITED Representation in Georgia (404538577), Georgia, Tbilisi, Old Tbilisi district, I. Nikoladze str., №5a, hereinafter "HBC Broker" or the "Company". The website owned and operated by: MPG INVEST LIMITED Representation in Georgia.(404538577), Georgia, Tbilisi, Old Tbilisi district, I. Nikoladze str., №5a
1.2. An individual, who has registered a trading account with the Company in any way (hereinafter - the "Client" or "Trader").
The Company offers the Client access to a trading platform for trading Forex in the financial markets through the website on the domain name hbcbroker.com and any sub-domains. This license agreement (hereinafter - the "Agreement") governs the Trader’s use of the Company’s trading services.
In addition to this agreement, the relationship between the Trader and the Company is also regulated by the additional rules, which are set out in the "Bonus policy of the Company” section.
2. Introductory provisions
2.1. The act of being registered on the website of the Company confirms the Trader’s acceptance of their obligation under this Agreement in its entirety. This Agreement together with the rules, which are set out in the section "Bonus policy of the Company", governs the relationship between the Client and the Company and determines the use order of the Company’s trading services.
2.2. A Trader, registered on the Company's website, confirms that
2.2.1 information provided by the Trader is truthful
2.2.2 he is an adult (over the age of 18)
2.2.3 the personal information will be updated in a timely manner
2.2.4 the Trader’s obligations to third parties, as well as the legislation of the Trader’s country of residence will not be violated by the use of the Company's services.
2.3. The Company reserves the right to modify the company's website or its contents, the trading platform, the access to which is provided to the Client, and the content of the services in any way. The claims to the Company for any losses incurred by the Trader as a result of such modifications are not accepted.
2.4. If the Company detects an attempt to open more than one trading account for one Trader, or an attempt to access to the Trading Platform by using the Trading account of another trader, this will be considered as fraud. In such a case the Company reserves the right to deny access to the trading platform. The Company can freeze the trading account, as well as prohibit the Trader from using the Company’s services in the future. Thus, a Trader can register a unique trading account using their real personal data in order to get access to the Trading platform. All transactions must be performed through this unique trading account.
2.5. The interaction between the Trader and the Company is carried out within the territory of Bulgaria, as this is the country of the physical location of the Company’s main servers.
3. The legitimacy of the Company's services
3.1 The Company absolves itself of responsibility regarding the legality of the Company's services in the legal space of the country of the Trader’s residence. The Company does not provide legal advice on the permission or prohibition of the use of the Company’s services by the Trader. The Trader understands and accepts that online trading, financial or other assets may be illegal in the legal space of some countries. The trader is obliged to verify the legitimacy and legal framework before the act of registration with the Company.
3.2 The Company does not act in contradiction with the legislation operating in the legal space of the Trader’s country of residence. The Company's services are aimed at the Traders who do not have limitations in forex trading. The Company takes away any responsibility for the unauthorized or illegitimate use of the Company’s services by the Trader. The fact of the Trader’s registration on the website of the Company confirms the compliance with legislation of the trader’s country of residence regarding forex trading.
4. Access to the Company's services
4.1. A person who has not reached the age of majority in their jurisdiction cannot be a Trader. In case of doubt about the Trader’s age the Company may require documentation, confirming the fact of majority. If such a document is not provided, the Company has the right to freeze the Client's trading account and cancel access to the trading platform.
4.2. The representatives of the company have the right to verify the authenticity of the Trader’s personal data. Verification is carried out in the form of a request for the Trader’s relevant documents (passport or driver's license, utility bills and/or bank statements). The Company may require notarization of the requested documents. If the requirement of the Company to provide the necessary documents has not been met, the Company reserves the right to freeze the Client's trading account and cancel access to the trading platform. In the event that the Company's internal security department has a reason to suspect that the documents are forged or distorted, a Trader will lose access to the trading platform and can no longer use the services of the Company. The company is not obliged to inform the Trader about the details of the document verification process.
4.3. A Broker, without notification of the Client, has the right to check the trader‘s personal details at any time. This check can include validation of the name, address, age, credit rating and current trading activity. Third parties may be involved to implement such inspections by the Company. In the event of forgery from the Trader, the Company reserves the right to block the Client’s trading account and ban the use of the Company’s services in the future.
4.4. All KYC documents need to be sent/collected prior to making the first deposit.
5. The legality of the Terms and Conditions
5.1. If the Trader does not agree with any of the points of the conditions he must immediately stop using the services of the Company, removing all software from his devices and cancelling the trading account.
5.2. These Terms and Conditions can be processed in any manner and updated by the Company if necessary. The company is not obliged to inform a Trader about the change of these Terms and Conditions, as well as any other additional agreements. Any changes take effect within a calendar week after the publication on the Company's website. If the trader does not agree with the changes introduced by the Company, he must immediately stop using the services of the Company and cancel the trading account. The Company is not responsible for the Trader’s late familiarization with these Terms and Conditions as well as with any other Agreements published on the Company's website.
6. Client Terms of Business
6.1. The Client makes a request or an order. This request/ order is set to be checked for the correctness in the Client Terminal. The calculation of floating profit / loss on the position as well as the calculation of the Stop Out level is not made.
6.1.1 The Client Terminal sends a request / order to the server;
6.1.2 When the server receives a request / order of the Client, it also checks for the correctness. The preliminary calculation of the floating profit / loss on the position and the calculation of the Stop Out level is not made;
6.1.3 If the Client’s request / order is correct, this request / order is set in the queue. The queue is formed by the time of the request / order receipt. In case of the correct request / order placement in the queue, there is a display of the current request / order processing status “Order is accepted” in the window «Order» of the Client Terminal;
6.1.4 A request / order placed in the queue ahead of other orders / requests are sent to the Company for processing. Herewith, the window «Order» of the Client Terminal displays the current processing status of the request / order «Order is in process»;
6.1.5 The Client’s request / order is being processed, the processing result is transmitted to the server;
6.1.6 The processing result of the Client’s request / order is sent to the Client Terminal by the server;
6.1.7 The Client Terminal receives the processing result of the client’s request / order from the server, provided the stable connection between the Client Terminal and the server. The time of the result admission to the Client Trading Terminal is fixed in the log of the Client Terminal; the time of the result sending from the server to the Client Terminal is indicated in the server log. These indicators may vary.
6.2. Once the Client’s request / order is in the queue with the status «Order is accepted» in the Client Terminal, the cancellation of the request / order is acceptable by the Client. The cancellation of the request / order is performed by pressing the button «Cancel order» in the Client Terminal.
6.3. In case the Client’s request / order is marked with the status «Order is in process», the Client may not cancel his/ her request / order.
6.4. The installed by the Company time of the maximum processing of a request / order of the Client is three minutes. If the request / order of the Client is not transmitted to the Client Terminal within a set time, the request / order is removed from the queue.
6.5. The Client receives quotes by means of the Client Terminal. These quotes are indicative and represent data from the liquidity provider on the best available Bid and Ask prices in the market.
6.7. All matters relating to the definition of the current market price level are in the private competence of the Company.
7. The procedure of handling non-commercial or suspicious transactions.
7.1. The Company has the right to reject the Request / Order of the Client in the following cases:
7.1.1 If the Client has committed Request / Order before the first quote available on the trading platform;
7.1.2 If the number of Requests / Orders on open positions of the Client exceeds the frequency equal to ten orders on every open position;
7.1.3 If the Client does not have sufficient volume of the free margin on the position opening.
7.2. Depending on the reason specified in paragraph 7.1, in the Client Terminal window there will be: «Off quotes» «Cancelled by dealer», «Not enough money», «Trade is disabled».
8. Terms of closing deals, the procedure of determining the amount of payment on the transaction.
8.1. A trading operation on the purchase is carried out at the Ask price. A trading operation on the sale is performed at the Bid price.
8.1.1. If a long position is opened, it is carried out at the Ask price. In case of a short position opening, it is performed at the Bid price.
8.1.2. In case of closing a long position (sale), it is carried out at the Bid price. Closing a short position is performed at the Ask price.
8.2. The process of transferring open positions to the next day begins at 23:59:45, it refers to the server time.
8.3. The Company has the right to change the value of swaps and commissions. The information about the swaps change is published in the section "Swap History" in the Client Personal Account.
8.4. The Client agrees to pay the Company commission and other costs set out on the Company's website.
8.5. The amount of the commission and other costs may be changed by the Company without a preliminary written notice to the Client. The Company undertakes to publish all changes related to the size of the commission and other costs on the Company's website.
8.6. Except special circumstances specified in the regulatory documents, the Company is not obligated to provide the Client with the information in respect of income received from the commission or remuneration derived by the Company as a result of the Client’s trading.
8.7. The Client pledged to deposit and maintain the initial margin and / or margin for the locked positions in the amount determined by the Company.
8.8. The initial margin and / or margin for locked positions is fixed at the moment of the position opening.
8.9. The Client is responsible for monitoring the level of the necessary margin on his trading account.
8.10. The Company is not responsible for Stop Out on the account, which came as a result of the late receipt of funds on the Customer's account.
8.11. The procedure of the position opening
8.11.1. If the Client gives the instruction to open a position, he has to specify the following required parameters:
18.104.22.168 name of the instrument;
22.214.171.124 transaction volume.
8.11.2. To open a position through the Client Terminal without using an Expert Advisor, the Client should click the Buy or Sell button at a time when live prices of the Company meet his expectations.
8.11.3. An instruction for carrying out a trading operation on the current quote isgenerated so as to open a position through the Client Terminal using an Expert Advisor.
8.11.4. To open a position through the Client Terminal without using an Expert Advisor, the Client makes a request. After receiving a quote (Bid / Ask), the Client has an opportunity to open a position by clicking either Buy or Sell button. The Company has the right to withdraw the quote unless the Client sends the instruction within three seconds after receiving a quote as well as if the quote becomes invalid as a result of the market movement.
8.11.5. A request is generated in order to open a position through the Client Terminal using an Expert Advisor. If the quote proposed by the Company differs from the Expert Advisor not more than the magnitude of the maximum deflection, the Expert Adviser sends an instruction to the server to open a position on the quote proposed by the Company.
8.11.6. When a server gets the Client's order to open a position, it automatically checks the status of the trading account for the presence of the free margin to open the position:
126.96.36.199 the list of open positions is conditionally updated with a new position;
188.8.131.52 a new level of the necessary margin for the total Client’s position, including the conditionally added new position, is determined by the current market prices at the time of the audit;
184.108.40.206 floating profit / loss on all open positions, except the conditionally updated new position, is calculated in accordance with the current market prices;
220.127.116.11 a new volume of the free margin is calculated;
- the free margin is more or equal to zero, the total Client’s position considering the conditionally updated new position does not exceed the specified limit for this type of the account, the position is opened. The position opening is accompanied by a corresponding record in a log-file of the server;
- the free margin is more or equal to zero and the total Client’s position considering the conditionally updated new position exceeds the specified limit for this type of the account, the position is not opened.
9. Basic terms and definitions
This Agreement as well as other documents, regulating the relationship of the Company and the Client, use terms and definitions, which should be treated as follows:
The price at which a purchase is available for the Client, the higher price in a quote.
The balance (or balance of the trade account) is the result of all transactions, procedures and operations made by the Client. This refers to the Client's trading activity as well as deposit or withdrawal operations on the Client's trading account.
Means the first currency in the currency pair. The Client buys or sells the base currency against the quote currency.
The price at which the sale is available for the Client, the lower price in a quote.
A collective term that describes any account opened by the Client in the Company including such types of accounts as transitory, trading, partner, investor’s accounts, etc.).
Client’s Authorized Person
1. An individual who has come of age under the laws of the country, the citizen and (or) a tax resident of which he/she is. The authorized person of the Client cannot be a citizen and (or) a tax resident of those countries, where the Company does not operate. The authorized person has the right on behalf of the Client to deposit or withdraw funds from the Client's trading account.
2. The legal person or any other organization formed under the laws of a particular country (refers to the states, where the Company provides its services), authorized to credit funds to the trade account on behalf of the Client or withdraw funds from the Client’s account.
It means an application, a program or a Web application provided by the third party. The application connects with the server via the FIX Protocol and is used to obtain information on the state of financial markets. In addition, the client terminal can (but is not obligated) provide the Clients with services to perform the technical analysis in real time, open and close transactions on certain criteria, place, modify and even delete orders and receive notices from the Company.
A closed cycle, consisting of two transactions that are carried out on the same volume: buy in order to sell or sell in order to buy.
The main trading terms, such as spread, lot size, minimum volume of a trading operation, initial margin, margin for locked positions, etc.
The process of depositing the trading account by the Company to ensure the trade activity of the Client.
The subject of the trading activity based on the ratio cost of one currency in the currency pair against another currency in the currency pair.
Profits or losses on open positions calculated on the basis of the current exchange rate.
Force majeure or emergency situation
The inability to provide normal trading conditions for reasons beyond the Company, Company’s software or hardware glitch, and other situations that cannot be foreseen.
The amount of cash on the trading account of the Client, which can be used to open new positions. Free margin is calculated as the funds on the trading account of the Client minus the necessary margin.
The current state of the trading account. In order to calculate the current state, you should add the balance value and the credit, add floating profit and subtract floating loss.
The process of increasing the balance of the trading account in the amount of funds transferred by the Client (or his/her agent) in accordance with the details obtained from the Company and entered into a bank account/s of the Company.
The required guarantee by the Company to open and support fixed (locked) positions. The warranty is determined for each trading instrument separately.
Identification information for individuals means the passport information of the person specified in the registration form on the trading platform of the Company, including the registration address of the individual. For a legal entity it means numbers under which a specific legal entity has been registered in the relevant public and fiscal registries.
The price of the trading instrument, at which the Company is not obligated to execute the Customer's instructions received in respect of the trading instrument.
The required amount of funds on the trading account of the Client (separately defined for each trading instrument), necessary for the Company to open a specific position.
The Client's instruction to open or close a position, placement, removing or changing the pending order.
Currency pairs, resources (e.g. metals), contracts for difference and other financial instruments provided to the Client by the Company.
Long and short positions with an equal volume. They are opened on the same trading instrument and relate to the same trading account.
This term refers to the process of purchasing a trading instrument with a view to improve the rate.
Nominal value that indicates a certain amount of the base currency or any other asset.
The number of securities or base currency in one lot.
Trading activity of the Client, when operations are carried out not using the real amount of money available to the client. The Client conducts transactions using the increased volume of the leverage.
The necessary amount of money on the trading account of the Client requested by the Company to maintain open positions.
In fact, it is the first stage of a complete transaction. In this case, the Client is required to:
1) implement a counter transaction of the equivalent volume;
2) maintain the availability of funds above or at the level of the necessary margin.
The price indicated in the order.
Instructions given by the Client, relating to the opening or closing the position,when a certain price level of the order is reached.
The information on the cost of the trading instrument at a given time shown in the form of the Bid and Ask price.
The second currency in the currency pair which can be bought or sold by the Client for the base currency.
This term means the instruction, by using which the Client may obtain the necessary quote. This request cannot be considered as a commitment to make a deal.
The cost of the base currency in the terms of the quote currency.
The term refers to any share, option, precious metal, interest rate, bond, etc.
Technical means and set software used to timely process Clients' orders as well as to display the real information in real time (the content of the displayed information varies by the Company).
This term refers to the process of purchasing a trading instrument with a view to lower the rate.
An error quote, which meets one of the following conditions:
1. The price rebound in a short period of time to the initial level with a price gap;
2. The absence of the rapid price dynamic before the appearance of this quotation;
3. Absence of the important macroeconomic events and / or corporate news of significant effect that influence the instrument rate;
4. The presence of a significant price gap.
The difference between the Ask and Bid prices shown in points.
The client pays the bill for the transfer of an open position overnight. Swap can be measured by both positive and negative value.
A register of operations on the Company's trading platform, personalized for a particular client, which shows all completed transactions, open positions, non-trading operations and orders as well as other information.
All programs and technical facilities, which present real-time quotes, allows placement / modification / fulfillment of the orders and calculation of all mutual obligations between the Client and the Company. A Trading platform consists of a server and a client terminal.
The time interval, which is determined as follows: a weekday (Monday - Friday), 9am - 6pm (GMT-0).
Means the lot size multiplied by the number of lots.
The instruction given by the client through a personal account to withdraw funds from the Client's trading account. In fact, this is an order to withdraw funds to any account of the Client or authorized person.
A weekday, i.e. every day except Saturday and Sunday.
A password-protected page of the Client on the Company's website. A Client can gain access to a personal account after opening the trading account. The purpose of the personal account is identification of the Client, maintaining the registry of trade operations and an information support of the Client.