Effective from 01/07/2021 until further notice
CUSTOMER AGREEMENT
This document is a legal agreement between Black Moon Trade Ltd., a financial services company registered in Saint Vincent and the Grenadines, fully licensed and regulated by the Saint Vincent and the Grenadines Financial Services Commission (hereinafter “Black Moon Trade”, “our” or “we”), its successors and assigns on the one hand, and the party/parties (the “Client”, “your” or “you”) on the other, who sign it. This document, together with our Risk Disclosure Statement and Privacy Statement, contains the terms and conditions under which Black Moon Trade will do business with the Client. This document sets out the respective rights and obligations of both parties in relation to this service, which parties accept the terms and conditions of this document and agree to be bound by them by the act of completing the Client application form.
In connection with opening an account with Black Moon Trade for the purposes of speculating, buying and/or selling assets, contracts for difference (“CFDs”), options (“Options”) and Spread Betting, in and on commodities, metals, assets and indices, as well as the provision of such other products and services as Black Moon Trade may determine to offer in the future, from time to time and in its sole discretion, the Client acknowledges that he/she has been advised of and understands the following factors regarding trading and the over-the-counter (“EB” also referred to as “OTC”) market, in addition to those contained in the Risk Disclosure Statement provided to the Client. We operate contracts for difference (“CFD”) transactions on the EB market.
In consideration for Black Moon Trade agreeing to provide services to the “Client” (or “you”) in relation to the purchase of assets, CFDs, Options and Spread Betting in and on commodities, metals, assets and indices and the provision of such other products and services as Black Moon Trade may determine to offer in the future, from time to time and in its absolute discretion, and which may be purchased or sold by or through Black Moon Trade from the Client’s account(s), the Client agrees that the following rights and obligations shall govern the relationship between A Black Moon Trade and the Client.
IMPORTANT NOTICES
Trading on EB Markets means that trades are not conducted on a regulated stock exchange. There are no guarantees as to the creditworthiness of the counterparty to your asset, CFD, Options and Spread Betting position. In addition, there may be some instances where there is a reduction in liquidity, leading to dilution of trades in assets, CFD, Options and Spread Betting in and on commodities, assets, metals and indices, preventing liquidation of an adverse position and with the possibility of substantial financial loss.
Black Moon Trade does not provide investment advice. Recommendations, signals and information provided or distributed by Black Moon Trade are general in nature and are based solely on the judgment of Black Moon Trade staff or third party information providers. These market recommendations may or may not be consistent with the market positions of Black Moon Trade, its marketing partners or employees. Market recommendations and information provided by Black Moon Trade are based on information believed to be reliable, but Black Moon Trade cannot guarantee the accuracy or completeness of such recommendations or ensure that following such recommendations will eliminate the inherent risks of trading assets, CFDs, Options and Spread Betting. Market recommendations or information provided by Black Moon Trade do not constitute an offer or solicitation to buy or sell any type of EB transactions. The Client understands and agrees that he is capable of, and shall be solely responsible for, evaluating the risks and rewards of any transaction he may enter into with Black Moon Trade.
The Client understands that Black Moon Trade does not allow representatives of its Clients to exercise discretion over, or manage, EB accounts. If the Client’s account is not being operated with the Client’s authorization, the Client must notify Black Moon Trade immediately.
Black Moon Trade’s margin policies and/or those of the banks/clearing houses through which trades are executed may require additional funds to be deposited into the Client’s account to properly margin and the Client shall be obliged to satisfy such margin requirements immediately. Failure to satisfy supplemental coverage demands may result in the liquidation of open positions with consequent losses. Black Moon Trade reserves the right to refuse to accept an order.
The Client understands that he/she must carefully review the reports relating to his/her trades that Black Moon Trade publishes online. All execution reports and account statements will be considered final unless the Client objects to them within two business days of their publication. Objections may initially be submitted by email or telephone, but must subsequently be confirmed in writing.
The Client understands that Black Moon Trade may establish rules and regulations for Client accounts, including, but not limited to, a minimum account balance, a certain time period for investments, commissions and fees, degree of leverage per instrument, profit margins, rules regarding caps and loss limits, reinvestments, requests for supplemental coverage or any other financial stipulations, and that Black Moon Trade may modify such rules and regulations from time to time.
The Client has read and understands the obligations and rights agreed to in this Client Agreement and agrees and acknowledges that this document, the Risk Disclosure Statement and Privacy Statement, comprise the terms and conditions of the Client’s relationship with Black Moon Trade. The Client agrees that he/she is fully responsible for making all decisions regarding transactions made through his/her account. The Client has considered the foregoing factors and, in view of his/her current and anticipated financial resources, is willing and able to assume the substantial financial risks of EB trading.
IT IS THE CLIENT’S RESPONSIBILITY TO SEEK ALL NECESSARY INFORMATION REGARDING TRADING IN ASSETS, CFDs, OPTIONS AND SPREAD BETS AND KPMGTRADE’S TERMS AND CONDITIONS AND TO ENSURE THAT ALL RISKS AND PROVISIONS ARE CLEARLY CLARIFIED AND UNDERSTOOD BEFORE CARRYING OUT ANY INVESTMENT ACTIVITY.
1.1 Where the context permits or requires, “Black Moon Trade” means Black Moon Trade Ltd, its affiliates and marketing partners, and their successors and assigns;
1.2 “Client” means the party (or parties) that has agreed to be bound by the terms and conditions of this Agreement;
1.3 “Agreement” shall include this Agreement and all other agreements and authorizations executed by the Client in connection with the maintenance of the Client’s account with Black Moon Trade.
The paragraph headings in this Agreement are inserted solely for convenience of reference and are not intended to limit the validity or affect the meaning of any of its provisions.
2.1 In accordance with our policy, we treat all our customers as retailers, regardless of the existence of a categorization in the customer’s country of residence.
3.1 The primary method of communication between the Client and the Customer will be electronic, through the Black Moon Trade website and online trading platforms.
3.2 Information on placed and executed orders will be sent personally to the Client through a specific account of the Client.
3.3 However, certain information will generally be provided through our website, such as general market recommendations, and the Client hereby agrees to receive information that is not addressed to him/her personally in such manner.
3.4 The Client may also place orders by telephone through our dealing room. In the course of our dealings with you, you may place orders with us through our online trading platform in the languages indicated on our website, which is updated with additional languages from time to time.
3.5 When orders are placed by telephone through the Dealing Room, you may communicate with us in any of the languages listed on the Website.
3.6 All written communications we send to you will be in the language used to register your account through our website.
4.1 Black Moon Trade is authorized to enter into Assets, CFDs, Options and Spread Betting contracts on an over-the-counter basis, following the Client’s verbal, written or computerized instructions, subject to the terms and conditions of this Agreement and all its annexes.
4.2 Once the Client completes the application form, Black Moon Trade will issue the Client with a secure password, which must be used in conjunction with the username chosen by the Client.
4.3 Black Moon Trade’s security systems are designed to ensure that all information provided to and from the Client is transmitted securely. The Client is obliged to keep the password secret and is solely responsible for ensuring that third parties do not gain access to the password or, through it, to the Black Moon Trade investment platforms.
4.4 The Client agrees that it is solely responsible for all electronically received instructions that are identified by the Client’s password and account number, as well as for all electronic, verbal and written instructions to Black Moon Trade from persons that Black Moon Trade, in its sole discretion, believes to be apparently authorized by the Client.
4.5 If the Client’s account is a joint account, Black Moon Trade is authorized to act on the instructions of either account holder, without additional checks, with respect to account operations and the disposition of account assets.
4.6 Black Moon Trade disclaims all responsibility for further verification of such apparent authority and for the consequences of actions or omissions on the part of Black Moon Trade in following such instructions or complying with the apparent authority of any such person.
4.7 Black Moon Trade shall be entitled to require joint action by the account holders in respect of the account. Black Moon Trade may send all correspondence and documents relating to the account to any of the joint account holders.
4.8 Black Moon Trade is responsible for the protection of the account, whether individual or joint.
4.9 In the event of the death of one or more of the joint account holders, Black Moon Trade must be notified in writing, enclosing a copy of the relevant death certificate. All expenses due at the date of notification will be charged to the account.
4.10 Until such time as valid written notice is given to Black Moon Trade to the contrary, it shall be assumed that each holder of a joint account has an equal share in the account.
5.1 While Black Moon Trade publishes general market recommendations, these should not be considered personal recommendations or advice to trade with Black Moon Trade. Accordingly, we are under no obligation to assess the suitability of the Client’s trading in Assets, CFDs, Options and Spread Betting through Black Moon Trade. All trades made by the Client represent an independent decision on the part of the Client to trade with Black Moon Trade.
6.1 All transactions under this Agreement shall be made in accordance with the usage, rules and interpretations of the counterparty institution or other interbank market (and its clearinghouse, if applicable), and with all applicable laws and regulations.
6.2 If any governmental authority, market organization or clearing entity subsequently promulgates any rule or regulation that is binding on Black Moon Trade and that affects or is in any way inconsistent with any of the provisions of this Agreement, the affected provisions shall be deemed modified or superseded, as the case may be, by the applicable provisions of such rule or regulation, and all other provisions of this Agreement, together with those so modified, shall remain in full force and effect.
6.3 The Client acknowledges that all transactions carried out under this Agreement are subject to the aforementioned regulatory requirements, and the Client shall not have any independent legal or contractual rights with respect to such requirements.
7.1 The Client shall provide to, and maintain in, Black Moon Trade a margin in such amounts and in such forms as Black Moon Trade, in its absolute discretion, may require.
7.2 Such margin requirements may be higher or lower than the margins required by the banks or brokers through which the trades are executed.
7.3 Black Moon Trade may change margin requirements at any time.
7.4 The Client agrees to deposit, by immediate transfer or by any other payment method acceptable to Black Moon Trade, such additional margin as Black Moon Trade may require, and will promptly satisfy all demands for supplemental coverage through such mode of transmission as Black Moon Trade may stipulate in its absolute discretion.
7.5 Black Moon Trade may at any time proceed to liquidate the Client’s account, and the fact that Black Moon Trade fails to exercise its rights shall not be considered a waiver on its part of enforcing them at a later date.
7.6 Black Moon Trade reserves the right to limit the amount and/or total amount of open positions that the Client may purchase or hold with Black Moon Trade, as well as to increase margin requirements in anticipation of profits or other news or events, with or without notice, both prior to such events and retroactively, or at any other time it deems, at its sole discretion.
7.7 Orders must be placed allowing sufficient time for their execution and for the calculation of margin requirements.
7.8 Profits derived from a transaction will be added to the Client’s account as additional margin whenever the transaction is open and, upon closing of the transaction, as a balance available for withdrawal.
7.9 Losses arising from a transaction will be deducted from the Client’s account.
8.1 Black Moon Trade may choose to grant bonuses to the Client by depositing amounts into the Client’s trading account, subject to such terms and conditions as Black Moon Trade determines in its sole discretion. Such bonus amounts may not be withdrawn by the Client unless the Client complies with the relevant trading requirements as may be posted on the Black Moon Trade website, which may be amended from time to time or communicated to the Client.
8.2 If Black Moon Trade suspects or has reason to believe that the Client has attempted to engage in any fraudulent activity in order to claim a bonus or benefit from any other promotion, Black Moon Trade reserves the right to:
(i) Cancel or reject the bonus promotion, or any other related investment agent bonus, at its sole discretion
(ii) Suspend the Client’s access to the services provided by Black Moon Trade and/or terminate the contract between Black Moon Trade and the Client for the provision of services,
(iii) Block the Client’s account(s) and arrange for the transfer to the Client of any balance in the same(s).
8.3 If Black Moon Trade suspects or has reason to believe that the Client has abused the terms and conditions of a bonus offer by hedging positions internally (using other investment accounts held at Black Moon Trade) or externally (with other investment accounts held at other brokers), Black Moon Trade reserves the right to cancel the bonuses and any transactions or profits associated with the Client’s account(s).
8.4 Bonus promotions may be restricted in certain jurisdictions.
8.5 Black Moon Trade reserves the right to cancel or reject bonus promotions, at its sole discretion.
9.1 Options are contracts that give the buyer the right – but not the obligation – to buy (in the case of a call option) or sell (in the case of a put option) certain Assets/CFDs at a specified price (the “strike price”) at a specified date and time (the “expiry”) from or to the seller of the option. They are typically referred to as Vanilla European-style Options
9.2 The proceeds of the purchase or sale of an Option (the “Cost” or “Premium”) will be immediately debited or credited to the account balance. On the Expiry date, options that are ‘in the money’ (or ‘at price’) will automatically close at their intrinsic value. That is, in the case of Call options, the amount by which the Asset/CFD settlement date exceeds the “strike price” and, in the case of Put options, the amount by which the strike price exceeds the closing price of the specific Asset/CFD pair. In the case of long Buy positions and short Sell positions, the closing price will be the sale price of the underlying Asset/CFD on the Expiry date. For short buy and long sell positions, the closing price will be the prevailing bid price of the underlying asset/CFD pair, as determined by Black Moon Trade in its sole discretion. Out-of-the-money options will expire worthless and will be closed without cost or credit.
9.3 The Client acknowledges and agrees that Black Moon Trade quotes variable spreads on Options. The Client is specifically advised that variable option spreads may be affected by actual market conditions, which are beyond the control of Black Moon Trade. Black Moon Trade does not guarantee minimum or maximum quotable option spreads. There may be occasions when Options quotes are not available for some Assets/CFDs.
9.4 We will allow you to make various transactions, including those linked to options based on various indices that we will define from time to time (for example, indices, stocks and options), and to receive financial information and various other services that we determine at our sole discretion. Before making a transaction, we advise you to read the explanations that you can find on our website about each type of transaction. The rules of the operations are those established exclusively by Black Moon Trade.
9.5 We will make available to you by publishing on www.Black Moon Trade.com the current valid price for a share or index and offer you the opportunity to submit a buy or sell position in respect of such share. Each position will have a specified expiry time. We expect that current prices will reasonably relate to the actual prices for such shares available in the market. We make no warranty, either express or implied, that the quoted prices represent the prevailing quoted prices.
10.1 Black Moon Trade does not pay interest on Client funds deposited by the Client.
10.2 All funds, securities, assets and other assets of the Client which Black Moon Trade or its marketing partners may at any time be holding in its name (whether individually or jointly with others or as collateral for the account of any other person), or which may at any time be in its possession or under its control, or held on its books for any reason whatsoever (including safekeeping) shall be held by Black Moon Trade as collateral and shall be subject to lien and set-off against the Client’s liabilities to Black Moon Trade, whether or not Black Moon Trade has made any advances in respect of securities, assets, commodities, assets or other assets, and regardless of the number of accounts the Client may have with Black Moon Trade.
10.3 Black Moon Trade may, at its discretion, at any time and from time to time, without prior notice to the Client, apply and/or transfer all or part of the Client’s funds or other assets between any of the Client’s accounts.
10.4 The Client hereby grants to Black Moon Trade the right to pledge, repoll, mortgage, invest or lend, both separately and jointly with the assets of other Clients, to itself as broker or to others, any securities or other assets of the Client held by Black Moon Trade as margin or collateral.
10.5 At no time shall Black Moon Trade be required to deliver to the Client assets identical to those delivered to, or purchased by, Black Moon Trade for the Client’s account.
10.6 This authorization shall be valid for all accounts held by Black Moon Trade in the name of the Client, and shall remain in effect until all accounts are paid in full by the Client or until Black Moon Trade gives notice of revocation from its headquarters.
10.7 Any failure by Black Moon Trade to enforce its rights will not be deemed a future waiver of such rights by Black Moon Trade.
10.8 Black Moon Trade is hereby appointed as the Client’s de facto agent and authorized – without prior notice to the Client – to execute and grant all types of documents, issue any type of notifications and take any action on behalf of the Client, including the execution, delivery and presentation of financial statements, that Black Moon Trade considers necessary or desirable to demonstrate or protect the interests of Black Moon Trade with respect to any collateral.
10.9 If the collateral deemed acceptable to Black Moon Trade is at any time insufficient to satisfy the Client’s indebtedness or other obligations to Black Moon Trade, including any obligations to provide the margin stipulated herein, the Client shall immediately pay the full amount of the shortfall thus generated.
11.1 In the event that any of our designated credit institutions becomes insolvent, Black Moon Trade declines all responsibility and shall not be subject to any liability arising from any losses to clients resulting from such insolvency.
11.2 However, we carry out appropriate and ongoing risk assessments of our designated credit institutions to ensure that they are at all times safe repositories.
11.3 We will provide our Retail Clients with detailed details of our designated credit institutions, including the names of these institutions and details of the Client’s accounts.
11.4 If the Client does not wish Black Moon Trade to deposit funds with a particular credit institution, we will return such funds to the Client as soon as possible.
11.5 Pursuant to Section 11.4, Clients trading on the Black Moon Trade Direct platform agree to the transfer of full ownership of funds to Black Moon Trade for the purpose of securing or otherwise covering the required margin and as such the required margin shall no longer be treated as the property of the Client. Black Moon Trade shall deposit the required margin as collateral for its liquidity provider(s). These funds shall not be registered in the name of the Client. Funds deposited by the Client in excess of the required margin shall be treated as Client funds, included within the Client’s assets.
12.1 Black Moon Trade is required to maintain and implement effective organizational and administrative controls in order to take all reasonable steps to identify, manage, disclose and record conflicts of interest. To this end, Black Moon Trade has established and implemented a Conflicts of Interest policy.
12.2 If the measures taken by Black Moon Trade to manage conflicts of interest are insufficient to ensure, with reasonable confidence, that risks of harm to the Client’s interests will be avoided, Black Moon Trade will clearly communicate to the Client the general nature and causes of the conflict of interest before conducting business on behalf of the Client.
13.1 If you have any queries, concerns, worries, issues and/or reasons for dissatisfaction with any aspect of our service, you should first contact our Customer Service team as the vast majority of issues can be dealt with and resolved at this first level via www.Black Moon Trade.com
13.2 If our Customer Service team is unable to resolve the issue or you feel that we have not met your expectations and you wish to raise the issue as a formal complaint or claim, please complete a Complaint Form, which can be found in the legal documents section of our website. The fully completed Complaint Form, accompanied by appropriate evidence (required), must be sent to Black Moon Trade complaints@blackmoontrade.com to be recorded as a formal complaint.
13.3 We will periodically inform you in writing of the progress of the investigation of the claim, at intervals of no more than 20 business days;
13.4 We will attempt to investigate and resolve the complaint within 40 business days of receiving the complaint;
13.5 If 40 business days have passed without the claim being resolved, we will inform you of the expected period for the resolution of your claim.
13.6 Once the investigation of the complaint has been completed, a Final Response will be sent to the Customer, setting out the results of the investigation and any measures or solutions we intend to take.
13.7 A Claim will be deemed resolved or settled when we have sent a final Response to the Customer in writing.
13.8 If you feel that your complaint has not been satisfactorily resolved and you remain dissatisfied, we advise you to seek independent legal advice.
14.1 In the event of (a) the death or declaration of incompetence of the Client; (b) the filing of a petition for bankruptcy, appointment of a receiver or the commencement of insolvency (or similar) proceedings by or against the Client; (c) the filing of a lien against any of the Client’s accounts by Black Moon Trade; (d) insufficient margin or a determination by Black Moon Trade that the collateral posted to protect one or more of the Client’s accounts is inadequate, regardless of current market quotes, to secure the account; (e) the failure of the Client to provide any information required under this Agreement or applicable law; (f) abuse of speculative practices, manipulations and/or fraud by the Client or any other person authorized by the Client to use the account; or (g) any other circumstance or situation that we deem appropriate for the protection of the Client, Black Moon Trade may, at its sole discretion, take one or more of the following measures:
(i) satisfy any obligation that the Client may have with us, directly or through the guarantee, the funds or assets of the Client that are in the custody or control of Black MoonTrade;
(ii) sell or purchase all or part of the asset contracts or securities held for the Client; and
(iii) cancel one or more pending orders or contracts, or any commitment made on behalf of the Client.
14.2 Any of the above measures may be taken without a margin call or additional margin, without prior notice of sale or other notice to the Client, its representatives, heirs, executors, administrators, trustees, legatees or assignees, regardless of whether their ownership is exclusive to the Client or jointly with third parties.
14.3 The demand or prior notice of purchase and sale may not be interpreted as a waiver by Black Moon Trade of the right to buy or sell at any time in the future without the aforementioned demand or prior notice.
14.4 For the liquidation of Client’s short or long positions, Black Moon Trade may, at its sole discretion, offset in the same liquidation or open new long or short positions to establish a hedge that, at Black Moon Trade’s sole discretion, may be advisable to protect and reduce existing positions in the Client’s account.
14.5 All sales or purchases made pursuant to this Agreement shall be made at the discretion of A Black Moon Trade on an interbank or exchange market where such business is customarily conducted, as well as at a public or private sale, and Black Moon Trade may purchase all or any part thereof free and clear of any right of redemption.
14.6 For the protection of the Client, if the Client’s Trading Accounts Net Asset Value or Equity falls below the Minimum Margin Requirement, all of the Client’s open transactions will be automatically closed, whether at a profit or a loss.
14.7 On the Black Moon Trade and MetaTrader platforms, the Minimum Margin Requirement is equivalent to 10% of the Required Margin.
14.8 On the Black Moon Trade Options platform, the Minimum Margin Requirement is equivalent to 50% of the Required Margin.
14.9 If the balance in the Client’s trading account is less than zero, the Client will immediately notify Black Moon Trade, which will proceed to cancel the account.
14.10 Neither Black Moon Trade nor any of its affiliates, marketing partners or agents shall be liable for any loss or damage incurred due to the closure of positions as a result of the above.
14.11 The Client shall at all times be liable for paying any outstanding balance upon request by Black Moon Trade and in all cases the Client shall be held liable for any remaining deficiencies in its account(s) in the event of any full or partial liquidation of the same by Black Moon Trade or the Client.
14.12 In the event that the profits realized as a result of this authorization are sufficient to pay all obligations owed by the Client to Black Moon Trade, the Client shall pay, immediately and upon demand, the negative balance and all unpaid obligations, together with accrued interest, equivalent to three (3) percentage points above the current preferred rate of Black Moon Trade’s main bank, or the maximum interest rate allowed by law (the lower of both), and all collection costs, including attorney and witness fees, travel expenses, etc.
14.13 If Black Moon Trade incurs any expenses other than those for the collection of deficit balances on any of the Client’s account(s), the Client agrees to pay such expenses.
15.1 The charges resulting from the services provided by Black Moon Trade are detailed on the Trading Conditions and Charges page.
15.2 The Client has been informed that Black Moon Trade earns part of its income from the spread of each transaction. The spread is the difference between the selling and buying prices of the transaction quote.
15.3 Black Moon Trade may, at its sole discretion, increase or decrease spreads on any or all instruments at any time and without prior notice due to various mitigating factors such as market sentiment, news or announcements, trading volumes, market volatility and/or additional internal or external factors. These decisions may apply to individual clients or to all clients simultaneously.
15.4 Spreads may be increased if a third party (e.g. Marketing Partner or Introducing Broker) refers a Client to Black Moon Trade. This additional spread may be passed on to the third party who referred the Client as remuneration.
15.5 If a Client requests a specific fee structure, he/she will pay a commission for opening and closing positions in Assets, CFDs, Options and Spread Betting. Such commission will be debited from the Client’s account at the time Black Moon Trade opens or closes such positions in Assets, CFDs, Options and Spread Betting.
15.6 If we increase or apply new charges, we will post this on our website at least 7 days before they come into effect.
15.7 We may also charge incidental bank-related fees, such as fees for deposit transfers, withdrawals of funds, and penalties for returned checks.
15.8 In certain circumstances, additional charges may include items such as account statement fees, order cancellation fees, transfer fees, telephone order fees, or fees imposed by interbank agencies, banks, contracts, exchanges, or other regulatory or self-regulatory organizations as a result of the provision of Black Moon Trade services under this Agreement.
15.9 The Client may incur additional charges for the purchase of optional, value-added services that we offer.
16.1 A daily finance charge may apply to each open position in Assets, CFDs, Options and Spread Betting at the close of Black Moon Trade’s trading day in respect of such positions in Assets, CFDs, Options and Spread Betting.
16.2 If such a finance charge is applied, the Client shall pay it directly to Black Moon Trade, or Black Moon Trade shall pay it to the Client, depending on the type of positions in Assets, CFDs, Options and Spread Betting and the nature of the Client’s positions.
16.3 The method of calculating the finance charge may vary depending on the Assets, CFDs, Options and Spread Betting position to which it applies. Furthermore, the amount of the finance charge may vary as it is linked to prevailing interest rates (such as LIBOR).
16.4 The finance charge will be credited or debited (as applicable) to/from the Client’s account on the next trading day from the reference day.
16.5 Black Moon Trade reserves the right to change the method of calculating financial charges, the types of funding and the modalities of positions in Assets, CFDs, Options and Spread Betting to which the financial charge is applied.
16.6 For certain types of Assets, CFDs, Options and Spread Betting, the Client will pay a commission for opening and closing positions. Such commission will be debited from the Client’s account at the same time as Black Moon Trade opens or closes the corresponding positions in Assets, CFDs, Options and Spread Betting.
16.7 CFD and Spread Betting transactions are linked to the market price of a certain underlying asset, including the market price of future contracts. A few days before the expiry date of the underlying asset to which the CFD and Spread Betting are linked, that asset will be replaced by another asset and the quotes for the CFD and Spread Betting will change accordingly.
16.8 CFDs and Spread Betting have no expiry date.
16.9 CFD and Spread Betting transactions are continuous and the underlying assets to which they are linked vary from time to time.
16.10 Black Moon Trade reserves the right to determine the underlying asset linked to CFDs and Spread Betting, the date of replacement of such asset and the conditions of such replacement.
16.11 Following the replacement of the underlying asset, the quote for CFDs and Spread Bets will be adjusted and the Client’s account will be credited or debited, as appropriate, based on the difference in quotes generated as a result of the replacement of the underlying asset.
16.12 The difference in the prices between the underlying assets is affected by the difference in rates between the purchase and sale of said assets in the market and, consequently, the revaluation of the purchase and sale transactions will be in different values.
16.13 Clients will incur charges for the Cost of the spread between closing the old contract and opening the new one, as well as for standard intraday interest.
16.14 In most cases debits will be greater than credits.
16.15 Any transaction opened and held by the Client at the end of the trading day, as determined by Black Moon Trade or over the weekend, will be automatically transferred to the next business day to avoid automatic closure and physical settlement of the transaction.
16.16 The Client agrees that when a transaction is transferred to the next business day, intraday interest corresponding to that transaction will be added or subtracted to/from his/her account.
16.17 Black Moon Trade will periodically determine the amount of such Intraday Interest at its sole discretion.
16.18 The Client authorizes Black Moon Trade to add or subtract Intraday Interest to/from the Client’s account in respect of open transactions that have earned such interest, in accordance with the applicable rate, each day at the end of the collection time specified on the trading platform, for each individual instrument, as applicable.
16.19 Please see detailed information about applicable charges in Operating Conditions and Charges.
17.1 Reports, account statements, notifications, transaction confirmations and other communications will be published online and may be transmitted to the address indicated by the Client at any time, by written or electronic communication to Black Moon Trade.
17.2 The Client shall be responsible for notifying Black Moon Trade of any change in their email address.
17.3 Communications will be deemed to have been received when Black Moon Trade makes them available to the Client, regardless of when the Client accessed them.
17.4 The Client may generate daily, monthly and annual account statements detailing transactions, profit and loss accounts, open positions, margin balances, and account credits and debits.
17.5 The Client understands that he/she must carefully review the reports relating to his/her operations that Black Moon Trade publishes online.
17.6 Order confirmation reports and Client account statements published online by Black Moon Trade shall be deemed correct, final and binding on the Client if no objection is raised by the Client within two business days from the date of online publication.
17.7 Objections will initially be submitted by email, but must subsequently be confirmed in writing.
17.8 If the Client becomes aware of an error in a report or statement, such as amounts paid in error, he/she will immediately notify Black Moon Trade and will be responsible for reimbursing such amounts to Black Moon Trade. If Black Moon Trade becomes aware of such an error, it is expressly authorized to correct it by amending the report or statement and, if applicable, considering it a deficit balance.
17.9 The Client declares that by providing Black Moon Trade with its subscription data, it agrees that Black Moon Trade, its subsidiaries, marketing partners and agents may send, and the Client may receive, by telephone, fax, SMS or email, communications containing commercial content related to the Client’s use of the trading platform, including information and offers from Black Moon Trade or third parties that Black Moon Trade considers the Client may find useful or interesting, such as newsletters and marketing or promotional materials.
17.10 The Client acknowledges that Black Moon Trade is not required to obtain the Client’s separate prior consent (written or verbal) before distributing such communications to the Client, provided that Black Moon Trade will cease distributing them if the Client notifies Black Moon Trade in writing that it no longer wishes to receive them.
17.11 The Client may generate account statements, by itself and at any time, on the online trading platform. These statements will record the time at which the order was executed and the account balance. Our internal records will establish the time at which the Client placed the order.
17.12 Black Moon Trade will also provide the Client with an annual statement detailing the funds held by the firm on behalf of the Client at the end of the period covered by such statement. It will also include all charges applied during the period covered by the statement, if applicable.
17.13 Clients will also have real-time access to their account, and will be able to view transactions, the time orders were placed and their account balance.
18.1 Black Moon Trade and/or its subsidiaries, marketing partners or agents disclaim all liability for any loss or damage caused, directly or indirectly, by events, actions or omissions beyond its control, including, but not limited to, any loss or damage resulting, directly or indirectly, from delays or inaccuracies in the transmission of orders and/or information as a result of breakdowns or malfunctions in transmission or communications facilities, or power outages.
18.2 Neither Black Moon Trade nor any of its subsidiaries, marketing partners or agents warrant that the trading platform or any of the services it provides will be available without interruption or error-free and such trading platform and services are provided “AS IS” without warranties of any kind except as stated herein.
18.3 Under no circumstances shall Black Moon Trade or any of its subsidiaries, marketing partners or agents be liable for any direct, indirect, punitive, incidental, special or consequential damages resulting from the use of, or the inability to use, the Black Moon Trade trading platform or services, including, but not limited to, lost profits, business, transactions and data, or use of data, unauthorized access to the Client’s computers, as well as alteration, theft or destruction of its computer systems, data files, programs or information, or the costs of procurement of substitute goods or services.
18.4 Client agrees that this section represents a reasonable allocation of risks, that it is an essential component of this Agreement and that, in its absence, the economic terms of this agreement would be materially different.
18.5 This limitation shall apply whether the alleged liability is based on contract, tort, negligence, strict liability or any other basis, even if Black Moon Trade and/or its subsidiaries, marketing partners or agents have been advised of the possibility of such damages.
18.6 Black Moon Trade and/or its subsidiaries, marketing partners or agents disclaim any liability or obligation to compensate for unusable data, lost or damaged transactions or Client data, regardless of the means and forms.
18.7 This limitation of liability further eliminates any obligation or liability on the part of Black Moon Trade or any of its subsidiaries, marketing partners or agents, for unusable data, lost or damaged transactions or Customer data, resulting, in whole or in part, from third party software, interconnection with goods or services, Internet-related problems, or actions or events beyond Black Moon Trade’s control.
18.8 Black Moon Trade and its subsidiaries, marketing partners or agents disclaim any liability resulting from or related to Internet security breaches or interruption, distortion or delay in the Client’s connection to the Internet, regardless of the cause.
18.9 As EB Markets are not stock exchanges, the prices and quotes that Black Moon Trade trades may or may not be similar to prices and quotes on other EB Markets.
18.10 In the event of a quote or execution error, which may include, but is not limited to, quote errors, quotes not representing fair market values, wrong quote from a dealer or wrong price due to software, hardware, communication lines or systems errors, or inaccurate data provided by third party providers, Black Moon Trade shall not be held liable for any resulting errors in account balances. Notwithstanding the foregoing, if trades are closed or opened as a result of an erroneous quote, Black Moon Trade’s dealing room will attempt to recognize such circumstance and act promptly to correct it. The Client acknowledges that the reset process may take some time, during which time the Client will not be able to use the trading account and no pending orders will be executed.
18.11 If Black Moon Trade identifies an erroneous or outdated quote, it may offer the Client an alternative quote or continue with the transaction, at Black Moon Trade’s sole discretion.
18.12 The Client further acknowledges that Black Moon Trade, its subsidiaries, marketing partners and agents shall not be held liable for any loss or damage caused by, or related to, such reset process.
18.13 Third Party Licenses:
18.14 If any third party software is included within or integrated into the Black Moon Trade Website or Online Trading Platform or the Online Trading Platform, such integrated third party software shall be provided subject to the terms and conditions of this Client Agreement, which shall apply to the Online Trading Platform.
18.15 The Client will fully comply with the terms and conditions of the Third Party Licenses that we will introduce from time to time.
18.16 We do not provide any express or implied warranties, indemnity or assistance with respect to Third Party Licenses, and we disclaim all liability in respect of the same.
18.17 “Third Party Licenses” means the licenses governing any third party software integrated into or used on the Trading Platform.
19.1 If the Client instructs Black Moon Trade to execute a transaction with Assets, CFDs, Options and Spread Betting:
(i) any profits or losses arising from fluctuations in Assets, CFDs, Options and Spread Betting shall be at the sole risk and expense of the Client;
(ii) all initial and subsequent deposits for margin purposes shall be made in US Dollars, Euros, British Pounds or Japanese Yen, in such amounts as Black Moon Trade may specify in its absolute discretion; and
(iii) Black Moon Trade is authorized to convert the funds in the Client’s account into and from the specified currency at the exchange rate determined by Black Moon Trade in its sole discretion, based on the then current currency rates in the currency markets.
20.1 The Client agrees to indemnify and defend Black Moon Trade, its subsidiaries, marketing partners, agents, employees, successors and assigns (“the Black Moon Trade Indemnitees”) from and against any and all liabilities, losses, damages, costs and expenses, including attorneys’ fees, incurred by any of the Black Moon Trade Indemnitees due to the Client’s failure to perform its obligations in a timely manner, or if any of its commitments or warranties turn out to be untrue or incorrect.
20.2 Client also agrees to promptly pay A Black Moon Trade Indemnitees all damages, costs and expenses, including attorneys’ fees, incurred in connection with the implementation of the provisions of this Agreement and any other agreement between Black Moon Trade and Client.
20.3 In addition to the limitations of liability specified in this Agreement, Black Moon Trade Indemnitees shall not be held liable and shall be held harmless from claims and losses incurred if they were due to:
(i) actions or omissions of action on the part of the Client;
(ii) any action or omission by a person with access to the Customer’s account, whether or not the Customer has authorized such access;
(iii) system and equipment malfunctions and breakdowns (whether the Client’s or Black Moon Trade’s equipment), interruptions or unavailability of the system;
(iv) delays, failures or errors in the implementation of the instructions;
(v) inaccurate or incomplete instructions received by Black Moon Trade from the Client; or
(vi) the Client or any third party with access to his/her account using or relying on any financial and market data, quotes, news, analyst opinions, research reports or any data or information available through the trading platform, whether to carry out a transaction on the trading platform or for any other purpose.
Pursuant to this section, Black Moon Trade shall be entitled to deduct liabilities from the Client’s account.
21.1 Prohibition of financial arbitration and manipulation
21.2 Black Moon Trade does not allow the practice of financial arbitrage when trading, and strictly prohibits any form of price manipulation on its platform, as well as the execution of operations based on errors, omissions or wrong quotes.
21.3 Price latency, connectivity delays and price data loading issues often create situations where published prices do not accurately reflect market quotes. The concepts of financial arbitrage and scalping (a high-pressure technique of accumulating profits in very fast and small increments), as well as taking advantage of these Internet delays, cannot exist in EB markets, where the Client is buying or selling directly from and to the market maker.
21.4 Any transaction that relies on price latency or errors in price loading may be subject to intervention, which includes the right to void all transactions that Black Moon Trade has determined to be a result of any of these practices, as well as reverse profits, widen spreads, lock trades, and make any other necessary account corrections or adjustments without notice.
21.5 If Black Moon Trade suspects or has reason to believe that the Client has abused the Terms and Conditions by hedging positions inter (through other trading accounts held with Black Moon Trade) or externally (through other trading accounts held with other brokers), Black Moon Trade reserves the right to cancel any trades or profits associated with the Client’s account(s).
22.1 Black Moon Trade may hedge its liability to you by opening analogous positions with other institutions or in the underlying market. The result of this will be that when you trade with us, these may, through our hedging, exert a distorting influence on the underlying market for that index, in addition to the impact this may have on our own prices. This creates potential for market abuse.
22.2 The Client represents and warrants, and agrees that this representation and warranty shall be deemed repeated each time the Client opens or closes a position, that:
(a) the Client will not and has not entered into a transaction with us in respect of a particular index or any other CFD price if doing so would involve the Client or other persons with whom the Client acts in concert,
become exposed to the price of the underlying financial instrument, which could create a situation of market abuse.
This exposure may be equal to or greater than the level of a reportable interest in the relevant financial instrument. For these purposes, the level of a reportable interest shall be the level prevailing at the material time, as determined by law, the stock exchange(s) or other types of market(s) on which the underlying financial instrument is traded; and
(b) The Client will not and has not entered into any transaction with us in relation to:
(i) a placement, issue, distribution or other similar event;
(ii) an offer, takeover, merger or other similar event; or
(iii) any other corporate financial activity in which the Client is involved or interested; and
(c) The Client will not open or close a position or place an order in contravention of any primary or secondary legislation or other anti-insider dealing or market manipulation laws. The Client agrees that Black Moon Trade may proceed on the basis that where the Client opens or closes a position or places an order on the price of a share, the Client may be treated as a dealer in securities as defined in the relevant statutes or regulations.
22.3 In the event that the Client opens or closes any transaction or places an order in breach of the undertakings and warranties given, or if Black Moon Trade has reasonable grounds to suspect that the Client has done so, Black Moon Trade may, at its absolute discretion and without being obliged to communicate the reasons to the Client, close that transaction and any other transaction or transactions that it may have open at the time, if applicable, and also at its absolute discretion cancel any transaction or profit associated with the Client’s account(s).
22.4 The Client acknowledges that trading is a speculative business, and agrees not to enter into any transactions with us linked to corporate finance activities.
22.5 The Client acknowledges that it would be inappropriate to trade in the underlying market if the sole purpose of such transaction was to affect our purchase or sale prices and therefore agrees not to engage in any such transactions.
23.1 Black Moon Trade will use commercially reasonable efforts to execute all orders that it may choose to accept, in its sole discretion, following the Client’s verbal, written or computerized instructions.
23.2 Black Moon Trade reserves the right to refuse to accept an order.
23.3 Black Moon Trade may, at its absolute discretion, allow the Client to specify the closing price of a transaction on the Trading Platform through a “close at loss” or “close at profit” order, always subject to the terms of this Agreement and any terms and conditions that Black Moon Trade may implement from time to time.
23.4 “Closing at a loss” means an offer to close a transaction at a price predetermined by the Client, which, in the case of a transaction opened by an offer to buy a specific quantity of a certain instrument, is lower than the opening price of the opening transaction, and which, in the case of a transaction opened by an offer to sell a specific quantity of a certain instrument, is higher than the opening price of the transaction.
23.5 “Profitable Closing” means an offer to close a transaction at a price predetermined by the Client which, in the case of a transaction opened by an offer to buy a specific quantity of a certain instrument, is higher than the opening price of the transaction and in the case of a transaction opened by an offer to sell a specific quantity of a certain instrument, is lower than the opening price of the transaction.
23.6 Upon Client’s offer and Black Moon Trade’s acceptance of an order, Client authorizes Black Moon Trade to close the transaction at the closing price at a loss or closing price at a profit, as applicable, and accepted in the order, without further instructions from, or notification to, Client.
23.7 Black Moon Trade may, at its sole discretion, close the transaction when the price quoted by Black Moon Trade on the trading platform is equal to the price accepted by A Black Moon Trade for such order.
23.8 The Client acknowledges and accepts that Black Moon Trade will not be obliged to close a transaction that does not comply with the other limitations agreed for said transaction.
23.9 The Client acknowledges and agrees that due to market volatility and factors beyond Black Moon Trade’s control, Black Moon Trade cannot guarantee that a loss-making order will be executed at the level specified in the Client’s order. In such event, Black Moon Trade will close the transaction at the next best price.
23.10 If, before the Client’s “Limit Order” offer to open or close a transaction is accepted by Black Moon Trade, Black Moon Trade’s quote fluctuates to the Client’s benefit (for example, if the price goes down when the Client buys or goes up when the Client sells), the Client agrees that Black Moon Trade will execute the closing transaction at the price specified by the Client and not at the best price. The Client agrees that Black Moon Trade may retain such price fluctuation for its own account.
23.11 The Client has been informed that Black Moon Trade derives part of its income from the spread of each transaction. The spread is the difference between the bid and ask prices of a transaction quote. Therefore, in the event that the fair market price reduces Black Moon Trade’s spread on a specific transaction, Black Moon Trade may, at its sole discretion, choose not to execute such transaction, in which case it may send the Client a modified quote for consideration. Black Moon Trade may execute a transaction, at its sole discretion, if the fair market price does not affect the spread of the transaction and/or increases it.
24.1 The Client acknowledges that investing in leveraged and non-leveraged transactions is speculative, involves a high level of risk and is suitable only for persons who can assume the risks of losing their entire margin deposit.
24.2 The Client understands that due to the low margin normally required in EB transactions, price fluctuations in EB markets may result in significant losses.
24.3 The Client warrants that he/she is willing, and is financially and otherwise able, to assume the risks of trading on EB Markets and, in consideration of Black Moon Trade maintaining his/her account(s), the Client agrees not to hold Black Moon Trade and any of its subsidiaries, marketing partners or agents liable for any losses incurred by the Client.
24.4 The Client acknowledges that when trading on EB markets it is impossible to guarantee that profits will be made or that losses will not be incurred.
24.5 The Client acknowledges that it has not received any such assurances from Black Moon Trade or any of its representatives, referral agents or other entities with which the Client has arranged its account with Black Moon Trade, and that it has not entered into this Agreement in consideration of, or in reliance on, any such assurances or similar undertakings.
24.6 The high degree of leverage that is obtained when trading Assets, CFDs, Options and Spread Betting transactions can work against you as well as for you. Leverage can lead to large losses as well as large gains.
24.7 During times of extreme volatility it may be difficult or impossible to execute orders.
25.1 The Client acknowledges that:
(i) all recommendations, signals and market information communicated by any means to the Client by Black Moon Trade and any of its subsidiaries, marketing partners, agents or persons within A Black Moon Trade, do not constitute offers to buy or sell EB Contracts, and that A Black Moon Trade does not offer investment advice;
(ii) such recommendations and information, although generally based on data obtained from sources that Black Moon Trade considers reliable, may be based solely on the opinion of a broker, be incomplete and unverified; and
(iii) Black Moon Trade makes no warranties, assumes no commitments and disclaims all liability for the accuracy or completeness of any market information or recommendations transmitted to the Client, nor for any loss or damage, including but not limited to loss of margin or profit, arising directly or indirectly from using or relying on such recommendations or information.
25.2 The Client understands that it is solely responsible for evaluating the risks and rewards of any transaction it may enter into with Black Moon Trade, whether as a result of information provided by Black Moon Trade or otherwise.
25.3 The Client acknowledges that Black Moon Trade and/or its officers, directors, marketing partners, associates, shareholders or representatives may have positions in, or attempt to buy or sell Assets, CFDs, Options and Spread Betting, which are the subject of market recommendations communicated to the Client, and that the market positions of Black Moon Trade or any of the aforementioned officers, directors, marketing partners, associates, shareholders or representatives may not coincide with the recommendations that the Client received from Black Moon Trade.
25.4 The Client acknowledges that Black Moon Trade does not assume any commitment regarding the tax implications and tax treatment of investment activities.
26.1 The Client represents and warrants that:
(i) If the Client is a natural person: the Client is of sound mind, of legal age and legally competent;
(ii) If the Client is not a natural person:
(iii) No person other than the Client has or will have any interest in the Client’s account(s), and the Client has not and will not grant any pledge over the Client’s account with Black Moon Trade (other than the security interest granted to Black Moon Trade hereunder) to any other person without the prior written consent of Black Moon Trade. The Client is the exclusive beneficial owner of all collateral, and will not grant any pledge over the collateral to any other person (other than the security interest granted to Black Moon Trade hereunder) without the prior written consent of Black Moon Trade; and
(iv) The Client warrants that, regardless of any future determination to the contrary, it is able to operate in EB markets; and
(v) The Client is not an employee of any stock exchange, any firm holding the majority of shares in an exchange, a member of an exchange and/or a firm registered with an exchange, or a bank, trust or insurer and, in the event that the Client becomes an employee of any of them, he will notify this fact, as soon as possible and in writing, to the headquarters of Black Moon Trade; and
(vi) Client shall execute and deliver all documents, send all notices, file all representations and do all other things that Black Moon Trade (in its sole discretion) deems necessary or desirable to establish or perfect any security interest in favor of Black Moon Trade or to protect its interests in respect of any security interest; and
(vii) Customer has read and understands the clauses contained in this Agreement, including, but not limited to, the Risk Disclosure Statement and the Privacy Statement and
(viii) The Client will review this agreement; and
(ix) Customer will not make any transaction on his/her account unless he/she understands this Agreement, and Customer agrees that by making a transaction he/she will be deemed to have read and understood the Agreement in effect at the time of the transaction; and
(x) The Client accepts and will comply at all times with the laws, statutes and regulations, and represents that the execution and granting by it of this Agreement and all
the transactions contemplated herein, as well as the fulfillment of the obligations and transactions contemplated herein, do not violate any law, rule, regulation, ordinance, articles of incorporation, bylaws or policies applicable to the Client. The Client may not use this account at Black Moon Trade for illegal activities.
27.1 If the Client, due to observance of Islamic religious beliefs, is unable to earn or pay interest, he/she may choose to establish, following Black Moon Trade’s instructions, that his/her trading account is an Islamic account, which is not charged or receives intraday interest or reinvestments.
27.2 If the Client designates his/her account as Islamic, he/she may not keep transactions open on the account for more than 5 days, nor abuse this benefit.
27.3 Black Moon Trade reserves the right to cancel the aforementioned benefit at any time, as well as to take all necessary measures, at its sole discretion, as a result of the abuse of this benefit.
27.4 Such measures may include, but are not limited to, designating the Islamic account as a regular account and retroactively making required adjustments (for example, liquidating amounts in the account equal to those paid by Black Moon Trade as interest), cancelling transactions and adjusting account balances.
28.1 The Client represents and warrants that the financial information disclosed to us in his/her application accurately reflects his/her current financial situation.
28.2 The Client represents and warrants that it has carefully considered the portion of its assets that it considers to be risk capital.
28.3 The Client acknowledges that the risk capital is the sum of money that he is willing to risk, and that its loss will not affect his lifestyle in any way.
28.4 The Client agrees to notify us immediately if his financial situation changes in such a way that his net worth, liquid assets and/or risk capital are reduced.
29.1 The Client acknowledges that he has not entered into a separate agreement with Black Moon Trade or any of its employees or agents relating to trading on the Client’s account with Black Moon Trade, including any agreements to guarantee profits or limit losses on the Client’s account.
29.2 Client understands that it must authorize each transaction prior to its execution, unless it has delegated such discretion to a third party by signing the Black Moon Trade Limited Trading Authorization or otherwise agreed to do so in writing with Black Moon Trade. Any disputed transaction will be brought to the attention of Black Moon Trade’s Compliance Officer in accordance with the notification requirements of this Client Agreement.
29.3 The Client agrees to indemnify and defend Black Moon Trade and its subsidiaries, marketing partners and agents from and against all damages and liabilities resulting from the Client’s failure to immediately notify the Black Moon Trade Compliance Officer that any of the situations mentioned herein have occurred.
29.4 All notices required by this section shall be sent to Black Moon Trade’s headquarters.
30.1 Black Moon Trade may engage marketing partners or referrals (the “Marketing Partners”), who are wholly separate and independent from each other and from Black Moon Trade. No agreement between Black Moon Trade and the Marketing Partner shall constitute a joint venture or partnership, and the Marketing Partner is neither an agent nor an employee of Black Moon Trade.
30.2 Black Moon Trade does not control and cannot Black Moon Trade guarantee or endorse the accuracy or completeness of any information or advice that the Client may have received or may receive in the future from Black Moon Trade marketing partners or any other person not employed by or acting on behalf of Black Moon Trade, regarding the risks involved in trading Assets, CFDs, Options and Spread Betting.
30.3 Since the Marketing Partner is not an employee or agent of Black Moon Trade, Black Moon Trade does not endorse or endorse the services provided by the Marketing Partner. Marketing Partner. It shall be the Client’s responsibility to conduct due diligence on the Marketing Partner prior to engaging any of its services.
30.4 The Client understands that in order to trade with Black Moon Trade, the Client must open an account directly with Black Moon Trade. Black Moon Trade makes appropriate risk disclosure information available to Clients when opening their accounts. Clients should read the information carefully and not rely on information from other sources.
30.5 The Client acknowledges that Black Moon Trade, its subordinates, agents or individuals associated with A Black Moon Trade do not make any commitments or provide any guarantees in relation to future losses or profits of the Client’s account.
30.6 The Client understands that trading Assets, CFDs, Options and Spread Betting is very risky, that many people lose money in these transactions and all transactions, even those made on the basis of a system, course, program, research or recommendations of a marketing partner, broker or other third party, involve substantial risks of loss. Furthermore, the Client acknowledges, accepts and understands that the use of a system, course, program, research or recommendations of a marketing partner, broker or other third party will not necessarily result in the realization of profits or the avoidance or limitation of losses.
30.7 Given that trading in Assets, CFDs, Options and Spread Betting involves a high risk factor, if the Client does not have additional capital that he can bear to lose, he should carefully consider the advisability of embarking on these investments.
30.8 The Client understands and acknowledges that Black Moon Trade may compensate the Marketing Partner for referring a Client to Black Moon Trade and that such compensation may be based on the transactions that the Client performs or on another basis. Furthermore, the Client has the right to be informed about the precise nature of such compensation.
30.9 The Client acknowledges that an affiliate may, in some circumstances, also be a trading agent. The Client understands that by using a trading agent, he/she may incur a premium, above and beyond the ordinary spread that Black Moon Trade generally offers.
30.10 Black Moon Trade shall in no way be held liable for any loss to the Client resulting from the Client’s use of information or advice provided by a third party, including a broker or Marketing Partner.
31.1 Client acknowledges that if Client chooses to grant agent authority or control over its account to a third party (“merchant agent”), on a discretionary or non-discretionary basis, it does so at its own risk.
31.2 The Client acknowledges that Black Moon Trade, its subsidiaries, marketing partners or agents shall not be liable for the Client’s review of the Client’s choice of such marketing agent, nor for any actions taken or recommendations made by the Client.
31.3 The Client acknowledges and understands that:
(i) Black Moon Trade does not provide any guarantees or assume any commitments regarding any commercial agent;
(ii) Black Moon Trade, its subsidiaries, marketing partners or agents shall not be held liable for any losses incurred by the Client as a result of the actions of the marketing agent; and
(iii) Black Moon Trade does not endorse or approve, either implicitly or otherwise, the broker’s operating methods.
31.4 If the Client decides to grant authority or control of the operations of the Client’s account to a merchant agent, the Client agrees to grant a power of attorney (“POA”) to the merchant agent to permit this, and to deliver the POA to Black Moon Trade.
31.5 The Client acknowledges that upon receipt of the PN, A Black Moon Trade is authorized to follow the instructions of the merchant agent in all respects until the Client notifies A Black Moon Trade in writing that it revokes the PN or that it has expired.
The Client authorizes Black Moon Trade to debit the Client’s account in accordance with the terms agreed between the Client and the merchant agent, which will be set out in the PN.
31.6 The Client acknowledges that the Broker and many third-party providers of investment systems, courses, programs, research or recommendations may not be regulated by a government body. It shall be the Client’s responsibility to conduct the necessary due diligence on the Broker prior to engaging any of its services and to satisfy itself of its competence and/or suitability for its needs.
31.7 The Client acknowledges that he or his trading agent may choose to use an automated trading system. The Client acknowledges that Black Moon Trade assumes no responsibility for such system. The Client is aware of the trading volume and resulting commissions that such systems may generate and the impact this may have on the performance of the account. The Client accepts the risks associated with the use of computers and data input systems, which may include, but is not limited to, failure of hardware, software or communication lines or systems and/or inaccurate external data inputs provided by third parties and the Client further agrees to hold Black Moon Trade harmless for any losses incurred on the account as a result of these risks. The Client acknowledges that neither Black Moon Trade nor any of its officers, directors, suppliers, employees, agents, associated persons or Black Moon Trade’s personnel shall be held liable for any such malfunctions or errors.
31.8 The Client understands that by using a trading agent or an automated trading system, the Client may incur a markup, above and beyond the ordinary spread that Black Moon Trade generally offers. Details of such markups will be indicated in the spread in the Client’s account if the Client uses an automated system and/or in the agreement between the trading agent and the Client.
31.9 The Client acknowledges that all decisions or actions taken by the trading agent on behalf of the Client shall be deemed to have been taken by the Client, and that any losses or gains arising from the trading agent’s actions shall be borne by the Client.
31.10 The Client agrees to indemnify and hold Black Moon Trade harmless from and against any and all liabilities, losses, damages, costs and expenses, including attorneys’ fees, arising directly or indirectly from the Merchant’s handling of the Account, including, but not limited to, any instructions, actions or omissions on the part of the Merchant.
31.11 Given that trading in Assets, Commodities, Futures, CFDs, Options and Spread Betting involves a high risk factor, the Client acknowledges that he/she should carefully consider the advisability of trading through Black Moon Trade, whether through a broker or otherwise, if the trader does not have the capital to afford to do so.
32.1 Black Moon Trade will not share or sell customer or potential customer information except to its employees, agents, partners and associates as required in the normal course of their business, including but not limited to the creditworthiness or banking relationships of Black Moon Trade or other persons disclosed by Black Moon Trade in the Privacy Statement.
32.2 Black Moon Trade may also disclose to national or regional agencies, as well as law enforcement agencies, information relating to the Client and its transactions in response to a request for such information or a court order or subpoena.
32.3 Black Moon Trade may share or sell statistical data without revealing the identity of the Client.
33.1 This Agreement shall remain in effect until terminated and may be terminated by the Client at any time by giving three days’ written notice (which notice may be given by email) where the Client has no positions in Assets, CFDs, Options and Spread Betting and no liabilities or debts to Black Moon Trade as of the date of actual receipt of such notice at Black Moon Trade’s head office or upon receipt by the Client of transmission of notice of termination, provided that such termination shall not affect any prior transactions already executed or relieve any party from any obligations already undertaken under this Agreement or relieve the Client from any obligations arising from a deficit balance.
33.2 Sections 14, 17, 19, 24, 31 and 43 shall survive termination of this Agreement for any reason.
34.1 All copyright, trademarks, trade secrets and other intellectual property and proprietary rights in the entire Black Moon Trade website, its contents and related materials (“BLACK MOON TRADE IP”) shall at all times remain the exclusive property of the BLACK MOON TRADE Group and its licensors and, in the case of third party materials available on the Black Moon Trade website, shall remain the property of such third parties. Clients shall have no rights or interests in the BLACK MOON TRADE Group IP, save for the rights to access and use the BLACK MOON TRADE Group IP as specified herein.
34.2 The Client acknowledges that the BLACK MOON TRADE Group IP is confidential and has been developed through substantial investments of skills, time, effort and money.
34.3 The Client shall protect the confidentiality of the Black Moon Trade Group’s IP and shall not allow access to the website to third parties.
34.4 The Client will not publish, distribute or make available to third parties any information derived from, or related to, the Black Moon Trade Group IP.
34.5 The Client will not copy, modify, decompile, reverse engineer or create derivative works of the Black Moon Trade Group IP or its operation.
34.6 If the Client has any feedback on Black Moon Trade’s services or ideas on how to improve them, the Client is encouraged to contact Black Moon Trade. By doing so, the Client grants Black Moon Trade a perpetual, royalty-free, irrevocable, transferable, sublicensable license to use and incorporate the Client’s ideas or feedback into the Black Moon Trade services, as well as to exploit the Client’s ideas and feedback, in all cases, without payment of any compensation.
35.1 The Client agrees and acknowledges that all conversations regarding the Client’s account(s) between the Client and Black Moon Trade personnel may be electronically recorded with or without the use of an automatic device alert tone.
35.2 The Client also agrees to the use by Black Moon Trade, its subsidiaries, marketing partners and agents of such recordings and transcripts as may be deemed appropriate in connection with any disputes or legal proceedings that may arise.
35.3 The Client understands that Black Moon Trade destroys such recordings at regular intervals in accordance with Black Moon Trade’s established business procedures and therefore authorizes such destruction.
36.1 Without limiting the generality of the foregoing, the Client understands that laws regarding financial contracts may vary around the world, and that it is the Client’s sole obligation to ensure full compliance with any laws, regulations or directives relevant to its country of residence with respect to the use of the Website.
36.2 For the avoidance of doubt, the ability to access the Black Moon Trade website does not necessarily mean that the services of Black Moon Trade and/or the activities carried out by the Client through it are legal under the relevant laws, regulations or directives of the Client’s country of residence.
36.3 This website does not constitute an offer or solicitation (and may not be used for such purposes) to any person in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation.
36.4 Access to this website and the offering of financial contracts through this website may be restricted in some jurisdictions and therefore users accessing the website must inform themselves of and observe such restrictions.
37.1 By accepting this Agreement, the Client declares that the funds invested in his Black Moon Trade account do not originate from drug trafficking, kidnapping or any other criminal activity.
38.1 The Client knows, understands and accepts that, in general, Black Moon Trade does not collect taxes for any entity, in any way and in any form.
38.2 Without limiting the foregoing, it shall be the Client’s sole obligation to calculate and pay all taxes due in his/her country of residence, or arising as a result of the Client’s operations through the use of Black Moon Trade services.
38.3 Without prejudice to the Client’s exclusive and absolute responsibility for making tax payments, the Client accepts that Black Moon Trade may deduct taxes by legal requirement, although it is not obliged to do so, from the results of its activity at Black Moon Trade.
38.4 The Client is aware that the amounts that may be withdrawn by the Client from his/her account are “gross amounts”, from which Black Moon Trade may deduct such taxes and that the Client shall have no claims against Black Moon Trade in respect of such deductions.
39.1 The Client acknowledges that his/her trading account may be subject to inactivity fees, unless prohibited by law. After 3 consecutive months of non-use (“Inactivity Period”), and after each subsequent period of inactivity, an inactivity fee will be deducted from the value of the Client’s trading account. This fee is detailed below and will be credited in the relevant currency of the Client’s account:
Inactivity fee:
USD Account: $50 EUR Account: €50 GBP Account: £50
Applicable fees are subject to periodic change.
39.2 The Client acknowledges that his or her trading account may be subject to an annual administration fee, unless prohibited by law. After 12 consecutive months of non-use (“Annual Inactivity Period”), an inactivity fee will be deducted from the value of the Client’s trading account. This fee is detailed below, and will be credited in the relevant currency of the Client’s account: This is to offset the cost incurred in making the service available to you, even though you have not used it.
Administration Fee: USD Account: $100 EUR Account: €100 GBP Account: £100
Applicable fees are subject to periodic change.
40.1 The Client acknowledges that current laws require financial institutions to obtain, verify and record data that identifies the person who opens an account.
40.2 The Client further acknowledges that Black Moon Trade makes efforts to prevent fraud and confirm the identity of the Client.
40.3 Therefore, after opening the trading account, the Client shall promptly provide Black Moon Trade with certain identification data and documentation requested by Black Moon Trade, including the Client’s ID, a copy of any utility bill of the Client (i.e. telephone bill or property tax bill), and copies of both sides of the Client’s credit card (in case the deposit of funds is made by credit card).
40.4 The Client confirms that he/she has provided true, accurate, current and complete information during the registration process, that he/she has not impersonated any natural or legal person, nor has he/she misrepresented his/her affiliation with another person, entity or association by using false headers, nor hidden his/her identity from Black Moon Trade.
41.1 The Client further acknowledges and agrees to Black Moon Trade’s procedures for depositing and withdrawing funds from the accounts set out below:
(i) Withdrawal orders: The provision of the documentation that may be required at any time by anti-money laundering regulations, credit card companies and Black Moon Trade is a mandatory requirement prior to the execution of a withdrawal order.
(ii) The Client acknowledges that withdrawals of funds may take longer than expected for various reasons, some of which are within the control of Black Moon Trade and some of which are not.
(iii) Credit card deposits may, in accordance with credit card regulations, be returned to the same credit card when a withdrawal is made. A withdrawal to a bank account if the initial deposits were made by credit card will be executed to the credit card or the bank account, at Black Moon Trade’s discretion. Withdrawals to the bank account may take longer, due to additional security procedures.
(iv) Variation in credit card deposits: When a currency other than USD is chosen as the account currency, the Client’s credit card may be debited for amounts that, due to exchange rates and credit card company fees, may vary slightly from the initial amount that the Client deposited in the base currency of the account. The Client accepts that such variations may occur, and hereby confirms that it will not object to them or seek to collect such difference.
(v) When depositing by bank transfer, in compliance with the requirements of anti-money laundering regulations the Client must use a bank account located in his/her country of residence and in his/her name. Any withdrawal of funds from the Client’s account at Black Moon Trade to a bank account can only be credited to the same bank account from which the funds were originally deposited.
(vi) Alternative payment methods (online payment services, money transfer services, etc.): When depositing funds using a method other than credit cards and/or banks, the Client agrees to be bound by the rules and regulations of such service, including, but not limited to, fees and other restrictions. Black Moon Trade, at its sole discretion, may make withdrawals to a channel other than the one used for the original deposit, in accordance with the regulations against the use of money.
42.1 The Client hereby agrees to receive account statements and transaction confirmations online.
42.2 Black Moon Trade will allow the Client password protected access to online reports.
42.3 The Client may generate daily, monthly and annual account statements, with detailed data on transaction activities, profit and loss accounts, open positions, margin balances, account credits and debits, etc.
42.4 Printed copies of the Client’s monthly statements are available upon request only, and may incur additional charges.
42.5 Statements will be deemed received when Black Moon Trade makes them available to the Client, regardless of whether the Client has accessed them or not.
42.6 The Client shall be responsible for notifying Black Moon Trade of any change in his/her email address.
42.7 This consent shall be effective until revoked by the Client in writing and received by Black Moon Trade in accordance with Section 16 of this Client Agreement.
43.1 By electronically signing the Black Moon Trade Account Agreement and other related documentation, the Client acknowledges receipt of the Client Account Letter, the Client Agreement and other documents contained as part of the Black Moon Trade electronic account package, and the Client agrees to be bound by their terms and conditions.
43.2 In addition to signing the Black Moon Trade Client Agreement and related documents, the Client consents to Black Moon Trade maintaining and the Client receiving electronic records of the Client’s transactions and accounts.
44.1 The Client hereby acknowledges and agrees that Black Moon Trade executes orders on over-the-counter markets and multilateral trading facilities (MTFs).
45.1 The Client understands, acknowledges and agrees that Black Moon Trade may amend or change this Agreement at any time.
45.2 Black Moon Trade will notify the Client of the amendment or change by posting it on the Black Moon Trade website or by sending an email message to the Client at least 7 days before such amendment comes into effect.
45.3 The Client agrees to be bound by the terms of such amendment or change from that date.
45.4 If the Client objects to such change or amendment, the Client agrees to liquidate his/her open positions and provide Black Moon Trade with instructions regarding the disposition of all assets in the Client’s account within ten (10) business days of the notice of amendment or change being posted on the Black Moon Trade website or notified to the Client.
45.5 No waiver or amendment of this Agreement may be inferred from any negotiations between the parties or from any failure by Black Moon Trade or its agents to enforce any rights under this Agreement on any occasion or series of occasions.
45.6 No verbal agreements or instructions to the contrary will be recognized or valid.
46.1 This Agreement, together with all references to Black Moon Trade policies and procedures made herein, and with the Risk Disclosure Statement, Trading Conditions and Charges and Privacy Statement, constitute the entire agreement between Black Moon Trade and the Client, superseding any and all prior oral and written agreements.
47.1 The Client may not assign or transfer any of the rights and obligations agreed to in this Agreement to any third party without the prior written consent of Black Moon Trade. Any attempted transfer or assignment in violation of this clause shall be null and void. Black Moon Trade may freely assign this Agreement.
48.1 This Agreement, the respective rights and obligations of the parties and all legal or administrative proceedings or actions arising directly or indirectly from this document or in connection with the transactions contemplated hereby shall be governed by, construed and enforced in all respects in accordance with the laws of England. Black Moon Trade and the Client irrevocably submit to the exclusive jurisdiction of the English courts.
49.1 This Agreement shall be continuous and shall cover, individually and collectively, all of the Client’s accounts with Black Moon Trade opened or reopened at any time, regardless of any personnel changes of Black Moon Trade, its successors, assigns, subsidiaries, marketing partners or agents.
49.2 This Agreement, including all authorizations, shall inure to the benefit of Black Moon Trade and its subsidiaries, marketing partners, agents, successors and assigns, whether by merger, consolidation or otherwise, and shall bind the Client and/or its estate, executors, trustees, bankruptcy trustees, legal administrators, successors and assigns.
49.3 The Client hereby ratifies all transactions with Black Moon Trade carried out prior to the date of this Agreement, and agrees that the Client’s rights and obligations with respect thereto shall be governed by the terms and conditions of this Agreement.
CUSTOMER ACKNOWLEDGES HAVING RECEIVED, READ AND UNDERSTOOD THIS AGREEMENT, AND AGREES TO BE BOUND BY ALL ITS TERMS AND CONDITIONS.
