This Client Agreement is entered into by Firewood Global Ltd (hereinafter referred to as
“Company”) and the Client who submitted a registration form at www.fwnets.com
(hereinafter referred to as “Client”).
The Company is registered and governed by the Law of Saint-Vincent and the Grenadines.
Any legal claims will be a subject of the court hearings. Company’s legal address is Suite 305,
Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines
The Agreement sets forth the relationship between the Client and the Company including but
not limited to: orders’ execution, Client policies, payments and/or payouts, claims resolution,
fraud prevention, communication and other aspects.
Any possible arguments between the Client and the Company will be settled in compliance
with the Agreement unless stated otherwise.
By entering into the Agreement the Client guarantees that he/she is a person of a legal age. In
case the Client is a legal entity, it guarantees the entity is capable and no other parties are eligible
to perform any actions, claims, demands, requests, etc in respect to the Client’s trading account.
All the operations on and with the Client’s trading account are performed in full compliance
with this Agreement unless stated otherwise
The Client has no right to bypass fully or partially his/her obligations by the Agreement on
the basis that it is a distance contract.
Terms definition
“Access Data” denotes all the access logins and passwords related to Client’s trading
account(s), Personal Area, or any other data providing access to any other Company’s services.
“Ask” denotes the higher price in the Quote at which the Client may open a “Buy” order.
“Balance” denotes the total of all the closed orders (including deposits and withdrawals) in
the Client’s trading account at a given time.
“Base Currency” denotes the first currency in the Currency Pair. Customer Agreement.
“Bid” denotes the lower price in the Quote at which the Client may open a “Sell” order.
“Business Day” denotes any day between Monday and Friday, inclusive, except any official or
non-official holidays announced by the Company.
“Client Terminal” denotes MetaTrader or any other software in all its versions, which is used
by the Client to obtain information of financial markets in real-time, perform different kinds of
market analysis and research, perform/open/close/ modify/delete orders, receive notifications
from the Company.
“Company News Page” denotes the section of the Company’s website where the news is
published.
“Currency of the Trading Account” denotes the currency of the trading account, that is, the
currency in which all the account’s calculations and operations are performed.
“Currency Pair” denotes the object of a transaction based on the change in the value of one
currency against the other.
“Client Information” denotes any information that the Company receives from the Client (or
in other ways) related to him/her, his /her trading account, etc.
“Dispute” denotes either:
any argument between the Client and the Company, where the Client has reasons to
assume that the Company as a result of any action or failure to act breached one or more terms of
the Agreement; or
any argument between the Client and the Company, where the Company has reasons to
assume that the Client as a result of any action or failure to act breached one or more terms of the
Agreement;
“EA” – denotes an Expert Advisor, that is, a piece of software which performs trading
operations automatically or semi-automatically without interference (or with a partial or
occasional interference) of a human.
“Floating Profit/Loss” denotes current profit/loss on Open Positions calculated at the
current price.
“Force Majeure Event” denotes any of the following events:
any act, event or occurrence (including, without limitation, any strike, riot or civil
commotion, terrorism, war, act of God, accident, fire, flood, storm, electronic, communication
equipment or supplier failure, interruption of power supply, civil unrest, statutory provisions,
lock-outs) which, in the Company’s reasonable opinion, prevents the Company from maintaining
an orderly market in one or more of the Instruments;
the suspension, liquidation or closure of any market or the abandonment or failure of any
event to which the Company relates its Quotes, or the imposition of limits or special or unusual
terms on the trading in any such market or on any such event.
“Free Margin” denotes funds in the Client’s account, which may be used to open a position.
Free Margin is calculated in the following way: Free Margin = Equity - Required Margin.
“Indicative Quote” denotes a price or a quote at which the Company has the right not to
accept or execute any Orders or perform any modifications to the orders.
“Initial Margin” denotes the required margin to open a position.
“Instruction” denotes an instruction from the Client to open/ close a position or to
place/modify/delete an Order.
“Instrument” denotes any Currency Pair, or Metal. It can be also referred to as “Trading
Instrument” or “Trading Tool”
“Leverage” denotes the virtual credit given to the Client by the Company. E.g., 1:500
leverage means that Initial Margin for the Client will be 500 times less than the Transaction Size.
“Long Position” denotes a buy order, that is, buying the Base Currency against the Quote
Currency.
“Lot” denotes 100000 units of Base Currency or 100 troy oz. of gold or 1000 troy oz. of
silver in the Trading Platform.
“Lot Size” denotes the number of units of Base Currency or troy oz. of Metal defined in the
Contract Specifications.
“Margin” denotes the amount of funds required to maintain Open Positions, as determined
in the Contract Specifications for each Instrument.
“Margin Level” denotes the percentage Equity to Required Margin ratio. It is calculated in
the following way: Margin Level = (Equity /Required Margin) * 100%.
“Margin Trading” denotes Leverage trading when the Client may make Transactions having
far less funds on the Trading Account compared to the Transaction Size.
“Open Position” denotes a Long Position or a Short Position which is not yet closed.
“Order” denotes an instruction from the Client to the Company to open or close a position
when the price reaches the Order Level.
“Order Level” denotes the price indicated in the Order.
“Precious Metal” denotes spot gold or spot silver.
“Price Gap” denotes the following:
Current Bid price is higher than Ask of the previous Quote; or
Current Ask price is lower than Bid of the previous Quote.
“Quote” denotes the information of the current price for a specific Instrument, in the form
of the Bid and Ask prices.
“Quote Currency” denotes the second currency in the Currency Pair which can be bought or
sold by the Client for the Base Currency.
“Rate” denotes the following:
for the Currency Pair: the value of the Base Currency in the terms of the Quote Currency;
or
for the Precious Metal: the price of one troy oz. worth of the Precious Metal against the US
dollar or any other currency (if available) for this instrument;
“Required Margin” denotes the margin required by the Company to maintain Open
Positions.
“Risk Disclosure” denotes the Risk Disclosure document.
“Segregated Account” denotes a bank account where the Clients’ funds are kept separately
from the Company’s funds, as the regulations demand.
“Services” denotes any services provided by the Company to the Client.
“Short Position” denotes a sell position, that is, selling the Base Currency against the Quote
Currency.
“Spread” denotes the difference between Ask and Bid prices.
“Trading Account” denotes the Client’s personal account in the Company at which the
Client can perform orders, transactions, deposits, withdrawals, etc
“Trading Platform” denotes all the Company’s software and hardware environment which
provides real-time Quotes, allows Orders placing/modification/deletion/execution. The platform
also calculates all the mutual obligations between the Client and the Company.
“Transaction Size” denotes Lot Size multiplied by number of Lots.
“Website” denotes the Company’s website at www.fwnets.com.
Services
Subject to the Agreement, the Company will offer the following Services to the Client:
Receive and transmit trading orders or execute trading orders for the Client using the
provided Trading Instruments.
Company’s services include Metatrader 4 software pack, technical analysis means and any
third parties’ services offered along with the Company’s services
Subject to the Agreement, the Company may enter into Transactions with the Client using
the Trading Instruments specified on the Company’s website at www.fwnets.com.
The Company shall carry out all Transactions with the Client on an execution only basis. The
Company is entitled to execute Transactions notwithstanding that a Transaction may be not
suitable for the Client. The Company is under no obligation, unless otherwise agreed, to monitor
or advise the Client on the status of any Transaction; to make margin calls; or to close out any
Client’s Open Positions.
The Client shall not be entitled to ask the Company to provide investment advice or to make
any statements of opinion to encourage the Client to make any particular Transaction.
The Company shall not provide physical delivery of the Underlying Asset of an Instrument in
relation to any Transaction. Profit or loss in the Currency of the Trading Account is credited/
debited from the Trading Account once the Transaction is closed.
The Company will not provide personal recommendations or advice on any specific
Transactions.
The Company may from time to time and at its discretion provide information and
recommendations in newsletters which it may post on its Website or provide to subscribers via its
Website or otherwise. Where it does so:
This information is provided solely to enable the Client to make his own investment
decisions and can’t be considered an investment advice;
If the document contains a restriction on the person or category of persons for whom that
document is intended or to whom it is distributed, the Client agrees that he will not pass it on to
any such person or category of persons;
Company gives no representation, warranty or guarantee as to the accuracy of
completeness of such information or as to the tax consequences of any Transaction;
It is provided solely to assist the Client to make his/her own investment decisions and can’t
be considered an investment advice or unsolicited financial promotions to the Client.
In providing the Client with reception and transmission and/or execution services the
Company is not required to assess the suitability of the financial instrument in which the Client
wishes to transact, nor the service(s) provided or offered to him.
The Company reserves the right, at its discretion, at any time to refuse to provide the
Services to the Client and the Client agrees that the Company will have no obligation to inform
the Client of the reasons.
The Company reserves a right to reject the Client by returning him/her his/her initial
deposit (that is the total amount deposited by the Client) at any time, in case the Company deems
it appropriate and necessary (including but not limited to as the result of Client’s malicious,
illegal, inappropriate, fraudulent or in any other way inacceptable actions).
Market commentary, news, or other information is a subject to change and may be modified
at any time without notice. The information can under no circumstances be considered as a direct
or indirect trading advice.
Any trading decision made by the client is his/her sole responsibility. The company is not
liable for consequences of such decisions.
By accepting this Agreement the Client confirms he/she has read the communication rules
and agrees that he/she is only able to perform orders by means of trading terminal only.
The Client agrees that the Company can modify, add, rename or cancel any or the scope of
the services offered in this Agreement partially or completely without prior notification. The
Client also agrees that the Agreement is applied to the services which may be modified, added or
renamed in future in addition to the services provided by the Company at present.
The Company is not liable to (unless set forth in this Agreement) attempt to execute any
Client’s order at the quotes other than the quotes offered in Metatrader 4 trading platform
The Company is under no circumstances a tax agent. The Parties comply with their tax
and/or any other obligations independently and on their own.
Client orders and transactions
The Company provides Market Execution on all the trading instruments.
As a result of the nature of the Market Execution, slippage during orders opening/closure
may occur. The Client agrees that such possible occasional slippage is a natural consequence and
feature of Market Execution and the Company is not responsible for it in any way.
Any possible open/close price deviation is a subject of the available liquidity. The Company
bears no responsibility for the consequences of such deviations and/or price difference from the
price requested by the Client.
The Client can cancel a sent order only while it is in queue with “Order is accepted” status. In
this case the Client should press “Cancel order” button. Due to the specifics of Metatrader 4
platform order cancellation in this case cannot be guaranteed.
The Client’s request to open/modify or close an order can be declined in the following cases:
During market opening when the order is sent before the first quote is received by the
trading platform;
In exceptional market conditions;
In case the Client doesn’t have sufficient margin. In this case “No quote” or “Not enough
money” message is displayed by the trading platform;
In case the Client uses an EA performing over 60 requests per minute the Company
reserves a right to ban such EAs;
The use of the same IP address by different clients can be a reason to consider all the orders
in all the accounts, performed from this IP address, as those performed by the same Client;
Orders opened or closed by off-market quotes can be cancelled:
In case the order was opened by an off-market quote;
In case the order was closed by an off-market quote;
Using arbitrage strategies on linked markets (e.g. currency futures and spot currencies) is
prohibited. In case the Client uses arbitrage in either clear or hidden way, the Company reserves
a right to cancel such orders.
In exceptional cases short-term orders lasting less than 20 seconds can be cancelled should
they be considered an abuse.
The Company reserves a right to cancel Client’s orders in case they do not comply with this
Agreement.
In case the Client uses a swap-free account to perform arbitrage orders the Company
reserves a right to change the account status back to regular and deposit/charge swaps for the
whole period with prior written notification.
A buy order shall be opened by Ask price. A sell order shall be opened by Bid price.
A buy order shall be closed by Bid price. A sell order shall be closed by Ask price.
Swap addition/deduction to open orders is performed from 20:59:00 to 21:01:00, terminal
time. So the swap charges (or, on the contrary, payouts) will be applied to all open orders during
the period from 20:59:00 to 21:01:00, terminal time.
The Company reserves a right to increase spreads in case one or more of the following
events occur:
In case the market conditions become irregular;
In case trading conditions for one or more currency pairs are changed;
In case of Force Majeure event(s);
Order processing
At the moment when Client’s order to open the position comes to the server, an automatic
check of the trading account for free margin for the open order is carried out. In the event that
the necessary margin is present, the order is opened. If the margin is not sufficient, the order is
not opened. Due to Market execution an opening price may differ from the requested one. The
note about the open order appearing on log-file of the server declares that Client’s request has
been processed and the order has been opened. Each open order on the trading platform receives
a ticket.
While opening an order on the market the Client shall not submit orders “Stop Loss” and
“Take Profit” due to Market Execution. Setting “Stop Loss” and “Take Profit” is performed by
modifying an open order.
Mandatory position closure (Margin call and stop out)
Margin call occurs whenever account’s margin level falls below 100%. The Company is
entitled but not liable to close Client positions in this case.
The Company is liable to mandatory close Client open positions without prior notification in
case Margin level falls below 20% (or stated otherwise depending on account type) of the
required margin. This event is called Stop Out.
Stop out is executed at a current market quote on a first-come-first-serve basis. Stop out will
be fixed in server’s log-file as “stop out”.
In case the Client has several open positions, the first position to close will be the one with
highest floating loss.
In case Stop Out leads to account balance becoming negative, Client must make deposit
immediately to settle the negative amount.
Margin Call and Stop Out levels may be increased during news releases, periods of high
market volatility, abnormal market conditions and other irregular events.
Leverage modification
Leverage modification is only allowed once in every 24 hours.
The Company reserves a right to modify Client’s leverage settings at any time. without prior
notification.
The following leverage restrictions are applied to all account types:
Leverage 1:3000 is provided for accounts with maximum deposit or equity or balance
(whichever highest) of up to 1000 USD
Leverage 1:1000 is provided for accounts with maximum deposit or equity or balance
(whichever highest) of up to 1000 USD
Leverage 1:500 is provided for accounts with maximum deposit or equity or balance
(whichever highest) of up to 20000 USD
Leverage 1:200 is provided for accounts with maximum deposit or equity or balance
(whichever highest) of up to 50000 USD
Leverage 1:100 is provided for accounts with maximum deposit or equity or balance
(whichever highest) of up to 100000 USD
No limitations are applied to 1:5 and 1:1 leverages
The Company reserves a right to adjust, reduce, or limit Client’s leverage in case Client’s
trading style and strategy exposes a high risk of negative equity.
Trading conditions
Complete trading conditions including but not limited to current spreads, currency pairs, lot
sizes, transaction sizes, long and short swaps, commissions, volume and/or deposit limitations,
account types, etc is located at the Company’s website at www.firewoodfx.com. The Company
reserves a right to modify/add/cancel any or all of the trading conditions. Such modifications are
a subject of prior notification.
Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company’s
trading conditions may be a subject of investigation. Should facts of such abuses arise, the profit
and/or loss gained with this advantage may be canceled by the Company’s sole decision. The
Client fully acknowlegdes this.
Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company’s
trading conditions may be a subject of investigation. Should facts of such abuses arise, the profit
and/or loss gained with this advantage may be canceled by the Company’s sole decision. The
Client fully acknowlegdes this.
Pending orders
The following kinds of pending orders may be executed in the Trading Software:
Buy Limit – an order to open a “Buy” position if Ask price becomes lower or equal to the
order price. The current price at the moment of placing an order is higher than the Buy Limit
order price;
Buy Stop – an order to open a “Buy” position if Ask price becomes higher or equal to the
order price. The current price at the moment of placing an order is lower than the Buy Stop order
price;
Sell Limit – an order to open a “Sell” position if Bid price becomes higher or equal to the
order price. The current price at the moment of placing an order is lower than the Sell Limit
order price;
Sell Stop – an order to open a “Sell” position if Bid price becomes lower or equal to the
order price. The current price at the moment of placing an order is higher than the Sell Stop
order price;
“Stop Loss” – an order to close an open position at a certain price in case the position
generates losses.
“Take Profit” – an order to close an open position at a certain price in case the position
generates profit.
Orders’ rules
Opening, modification and deletion of orders is only allowed during active trading hours set
forth in the Contracts Specification. Opening, modification and deletion of orders is not allowed
beyond trading hours when trading is not allowed.
In the exceptional case of irregular market conditions, trading for a certain tool may be
prohibited (fully or partially, temporarily or permanently) until the conditions remain irregular
or until further notice.
All the pending orders are executed by GTC Model (“Good Till Cancelled”) and have no
period of validity, that is, they remain active until cancelled by the Client. The Client however has
a right to set the order’s expiration date by him/herself.
In case one or several order parameters are invalid or missing, an order may be declined by
the Trading Platform.
The Company at its sole discretion will specify the current market price.
Orders of all types shall not be placed closer than a stated number of points to the current
price. The minimum distance in points from the current price may be varied with prior notice.
A note in server log-file about the order opening means the Client has opened an order and
agrees with it. Each order receives a unique number (a ticker).
In case an order opening is requested before the first quote appears in the trading platform,
it will be rejected by the trading platform. A message “No price/Trading is forbidden” will appear
in the Client terminal.
A note in server log-file about the order closure or modification means the Client has
modified or closed an order and agrees with it.
In case an order closure or modification is requested before the first quote appears in the
trading platform, it will be rejected by the trading platform.
Pending orders execution
A pending order is executed in the following cases:
Buy Limit order – whenever current Ask price becomes lower or equal to the order price;
Buy Stop order – whenever current Ask price becomes higher or equal to the order price;
Sell Limit order – whenever current Bid price becomes higher or equal to the order price;
Sell Stop order – whenever current Bid price becomes lower or equal to the order price;
Take Profit order for a “Buy” position – whenever current Bid price becomes equal or
higher than the order price;
Stop Loss order for a “Buy” position – whenever current Bid price becomes equal or lower
than the order price;
Take Profit order for a “Sell” position – whenever current Ask price becomes equal or
lower than the order price;
Stop Loss order for a “Sell” position – whenever current ask price becomes equal or higher
than the order price;
During price gap, all orders will be executed by the first available price after the price gap.
In certain cases when small price gaps occur, the orders may be executed as usual as stated
in previous paragraph.
In case a Client account simultaneously has:
Margin level of 140% or less;
60% of volume of total position is placed at the one trade tool and has one direction (sell
or buy);
This part of the total position has been formed within 24 hours period before the market
closes; Company is entitled to set “Take Profit” for orders, included in the total position at the
Ask price level of market closing for the tool minus one point (for sell orders) or at the Bid price
level of the market closing for the tool plus one point (for buy orders).
Margin requirements
The Client shall provide and maintain the Initial Margin and/or Hedged Margin in such
limits as the Company, at its sole discretion, may require from time to time in compliance with
the Agreement. It is the Client’s sole responsibility to ensure that the Client understands how
margin is calculated.
The Client shall pay Initial Margin and/or Hedged Margin at the moment of opening a
position.
If no Force Majeure Event has occurred, the Company is entitled to change margin
requirements, giving to the Client 3 (three) Business Days Written Notice prior to these
amendments.
The Company is entitled to change margin requirements without prior Written Notice in the
case of Force Majeure Event.
The Company is entitled to apply new margin requirements amended in accordance with
above mentioned paragraphs to the new positions and to the positions which are already open.
The Company is entitled to close the Client’s Open Positions without the consent of the
Client or any prior Written Notice if the Equity is less than certain rate depending on the account
type as stipulated on Company Website.
It is the Client’s responsibility to notify the Company as soon as the Client believes that the
Client will be unable to meet a margin payment when due.
The Company is not obliged to make margin calls for the Client. The Company is not liable
to the Client for any failure by the Company to contact, or attempt to contact the Client.
Deposit and withdrawal
The Client may deposit funds into the Trading Account at any time. All payments to the
Company shall be made in accordance with the Payment Instructions set forth at the Company’s
Website. Under no circumstances will third party or anonymous payments be accepted.
In case the nature of deposit means does not allow instant payment processing (bank wire,
etc), the Client is to create a Deposit Request in the Personal Area. Failure to do so will lead to
delays in account deposit.
It is the Client’s sole responsibility to create Deposit Requests in his/her Personal Area and
to fill them in a correct and proper way. Failure to do so will lead to delays in account deposit.
The Client may withdraw funds from the Trading Account at any time in accordance with the procedures as described in paragraph
If the Client requests to withdraw funds from the Trading Account, the Company shall pay
the specified amount within three (3) Business Days once the request has been accepted, if the
following conditions are met:
Withdrawal request contains all necessary information;
The request is to perform funds transfer to the Client’s bank account or e-currency
account (under no circumstances will payments to third party or anonymous accounts be
accepted); and
Client’s Free Margin exceeds or equals to the amount specified in the withdrawal request
including all payment charges.
The Company shall debit the Client’s Trading Account for all payment charges (if
applicable).
In case the account was deposited by various means, withdrawal shall be performed via the
same means proportionally to the deposited amounts, subject to Company decision.
In exceptional cases (such as Force Majeure circumstances, termination of payment system
operation, etc) Company is entitled to decline Client’s funds withdrawal in this payment system.
Such cases shall be considered on a case by case basis.
To provide financial security for the Client in some cases the Company reserves a right to
withdraw Client’s funds only to his/her bank account.
In case an account was funded via debit or credit card and a withdrawal request is
submitted within 60 days from the date of deposit, the funds may be credited back to the same
card. Up to 100% of the initial deposit may be withdrawn to the card. The amount over the initial
deposit can be withdrawn via bank wire.
If an account was funded via debit or credit card, a card copy may be required to process a
withdrawal. The copy must contain the first 6 digits and the last 4 digits of the card number,
cardholder’s name, expiry date and cardholder’s signature.
For security reasons upon withdrawal the Company reserves a right to demand Client’s
complete identification data, such as ID copy, address proof copy, bank reference letter and other
relevant documents, apostiled or certified by a notary.
Internal transfers (that is, transfers from one trading account to another within the
Company) between third parties are prohibited.
If the Client has the obligation to pay any amount to the Company which exceeds the
Trading Account Equity the Client shall pay the amount of excess forthwith upon the obligation
arising.
All incoming payments shall be credited to the Client’s Trading Account no later than one
(1) Business day after funds are received by the Company.
The Client acknowledges and agrees that where an amount is due and payable to the
Company in accordance with the Agreement and sufficient funds are not yet credited to the
Client’s Trading Account, the Company shall be entitled to treat the Client as having failed to
make a payment to the Company and to exercise its rights in compliance with the Agreement.
The Client shall make any margin payments or other payments due in US dollars, Euros,
and other currencies accepted by the Company. The payment amount will be converted into the
Currency of the Trading Account at the current market rate.
Commissions, charges and other costs
The Client shall be obliged to pay the Company the commissions, charges and other costs set
out in the Agreement. The Company will display all current commissions, charges and other costs
at its Website.
The Company may modify commissions, charges and other costs from time to time without
prior notice. All changes in commissions, charges and other costs are displayed at the Company
Website.
The Client undertakes to pay all possible stamp expenses relating to this Agreement and any
documentation which may be required.
The Client shall be solely responsible for all filings, tax returns and reports on any
Transactions which should be made to any relevant authority, whether governmental or
otherwise, and for payment of all taxes (including but not limited to any transfer or value added
taxes), arising out of or in connection with any Transaction.
The Company is not liable to disclose any reports regarding profits, commissions and other
fees received by Company from Client’s trading, unless stated otherwise by the Agreement.
The Company charges a fixed fee for using a swap-free account. The fee is calculated in the
following way: Commission = pip price * swap value of the currency pair; This fee is not an
interest and depends on the direction of the position (whether Buy or Sell).
Communication
In order to communicate with the Client, the Company may use:
Metatrader internal mail;
Email;
Telephone;
Company News Webpage;
Company’s Live Chat;
Company will use contact details provided by the Client whilst opening the Trading Account
and the Client agrees to accept any notices or messages from the Company at any time.
Any piece of information sent to the Client (documents, notices, confirmations, statements,
etc.) shall be deemed received:
Within one hour after emailing it, if sent by email;
Immediately after sending it if sent by Trading Platform internal mail;
Once the telephone conversation has been finished, if contacted by phone;
Within one hour after it has been posted on the Company News Webpage, if posted at the
Company’s Website;
On the first day of each month the Company will send the Client a statement which includes
all Transactions during the previous month. The Statement shall be sent by email.
Any telephone conversation between the Client and the Company may be recorded. All
Instructions and Requests received by telephone will be binding as if received in writing. Any
recordings shall be and remain the sole property of the Company and will be accepted by the
Client as a conclusive evidence of the Instructions, Requests or other arising obligations. The
Client agrees that the Company may deliver copies of transcripts of such recordings to any court,
regulatory or government authority.
Dispute resolution
In case any conflict situation arises when the Client reasonably believes that the Company as
a result of any action or failure to act breaches one or more terms of the Agreement, the Client
has the right to file a complaint.
To file any complaint, the Client should email it to support@fwnets.com.
A complaint MUST contain:
First and Last name of the Client (or company name if the Client is a legal entity);
Client’s login details in the Trading Platform (i.e. Account number);
Details of when the conflict first arose (date and time in the Trading Platform time);
Ticker of the order in question;
Description of the conflict situation supported by the reference to the Agreement;
The complaint MUST NOT contain:
Affective appraisal of the conflict situation;
Offensive language;
Uncontrolled vocabulary;
The Company has the right to reject a complaint in case any of the above mentioned
provisions are breached.
The Claim resolution term is set as 10 (ten) working days since the claim has been
submitted. In occasional cases the term may be increased.
Server log file
The Server Log File is the most reliable source of information in case of any Dispute. The
Server Log File has absolute priority over other arguments including the Client Terminal Log File
as the Client Terminal Log File does not register every stage of the execution of the Client’s
Instructions and Requests.
If the Server Log File has not recorded the relevant information to which the Client refers,
the argument based on this reference may not be considered.
Indemnification
The Company may resolve all Disputes by ONLY:
Crediting/debiting the Client’s Trading Account;
Reopening erroneously closed positions; and/or
Deleting erroneously opened positions or placed Orders.
The Company has the right to choose the method of Dispute resolution at its sole discretion.
Disputes not mentioned in the Agreement will be resolved in accordance with the common
market practice and at the sole discretion of the Company.
The Company shall not be liable to the Client if for any reason the Client has received less
profit than had hoped for or has incurred a loss as a result of uncompleted action which the
Client had intended to complete. This said, the Company will under no circumstances
compensate any ”lost profit”.
The Company shall not be liable to the Client in respect of any indirect, consequential or
non-financial damage (emotional distress, etc).
Rejection of complaint
In case the Client had been notified in advance by Trading Platform internal mail or some
other way of routine construction on the Server, complaints made in regard to any unexecuted
Instructions or Requests which are given during such a construction period, are not accepted.
The fact that the Client has not received a notice shall not be a reason to file a complaint.
Complaints regarding Order execution time are not accepted.
No Client complaints will be accepted in regard to the financial results of the orders opened
or closed using temporary excess Free Margin on the Trading Account gained as a result of a
profitable position (cancelled by the Company afterwards) or opened at an Off-market quote
(Spike) or by any other reason.
In regard to all Disputes any references by the Client to the Quotes of other companies or
information systems can not be taken into account.
The Client acknowledges that he/she will not be able to manage the position while the
Dispute in regard to this position is being considered and no complaints in regard to this matter
are accepted.
Force majeure
The Company may, in its reasonable opinion, determine that a Force Majeure Event exists,
in which case the Company will, in due course, take reasonable steps to inform the Client. A
Force Majeure Event includes without limitation:
Any act, event or occurrence (including, without limitation, any strike, riot or civil
commotion, terrorism, war, act of God, accident, fire, flood, storm, interruption of power supply,
electronic, communication equipment or supplier failure, civil unrest, statutory provisions, lockouts)
which, in the Company’s reasonable opinion, prevents the Company from maintaining an
orderly market in one or more of the Instruments;
The suspension, liquidation or closure of any market or the abandonment or failure of any
event to which the Company relates its Quotes, or the imposition of limits or special or unusual
terms on the trading in any such market or on any such event.
In case the Company determines in its reasonable opinion that a Force Majeure Event
exists (without prejudice to any other rights under the Agreement) the Company may without
prior Written Notice and at any time take any of the following steps:
Increase margin requirements;
Close down any or all Open Positions at the prices which the Company shall consider in
good faith to be appropriate;
Suspend or freeze or modify the application of any or all terms of the Agreement to the
extent that the Force Majeure Event makes it impossible or impractical for the Company to
comply with them; or
Take or omit to take all such other actions as the Company deems to be reasonably
appropriate in the circumstances with regard to the position of the Company, the Client and
other Clients.
Safety
The Client will not proceed and avoid proceeding in any action that could probably allow the
irregular or unauthorized access or use of the Trading Platform. The Client accepts and
understands that the Company reserves the right, at its sole discretion, to terminate or limit his
access to the Trading Platform if it suspects that he allowed such use.
When using the Trading Platform the Client will not, whether by act or omission, do
anything that will or may violate the integrity of the Platform or cause it to malfunction.
The Client is permitted to store, display, analyze, modify, reformat and print the
information made available through the Trading Platform. The Client is not permitted to publish,
transmit, or otherwise reproduce that information, in whole or in part, in any format to any third
party without the Company’s consent. The Client may not alter, obscure or remove any copyright,
trademark or any other notices that are provided on the Trading Platform.
The Client agrees to keep secret and not to disclose any Access Data to any third party.
The Client agrees to notify the Company immediately if he knows or suspects that his Access
Data have or may have been disclosed to any unauthorized person.
The Client agrees to co-operate with any investigation the Company may conduct into any
misuse or suspected misuse of his Access Data.
The Client accepts that he will be liable for all Orders given through and being logged in
under his Access Data and any such Orders received by the Company shall be considered as
received from the Client.
The Client acknowledges that the Company bears no responsibility for any unauthorized
third persons obtaining access to information, including logins, passwords, electronic currency
accounts access, emails, electronic addresses, electronic communication and personal data, when
the above are transmitted, using the internet or other network communication facilities, post,
telephone, during oral or written conversation or any other means.
Miscellaneous
The Company has the right to suspend the Client’s Trading Account at any time for any
good reason with or without Written Notice to the Client.
In the event that a situation arises that is not covered by the Agreement, the Company will
resolve the matter on the basis of good faith and fairness and, where appropriate, by taking such
action as is consistent with market practice.
In case any term of the Agreement (or any part of it) shall be held by a court of competent
jurisdiction to be unenforceable for any reason then such term shall, to that extent, be deemed
severable and not form part of this Agreement,. However, the enforceability of the remainder of
the Agreement shall not be affected.
The Client may not assign, charge or otherwise transfer or purport to assign, charge or
otherwise transfer the Client’s rights or obligations under the Agreement without prior written
consent of the Company and any purported assignment, charge or transfer in violation of this
term shall be voided.
Where the Client comprises two or more persons, the liabilities and obligations under any
agreement with the Company shall be joint and several. Any warning or other notice given to one
of the persons which form the Client shall be deemed to have been given to all the persons who
form the Client. Any Order given by one of the persons who form the Client shall be deemed to
have been given by all the persons who form the Client.
The Client accepts and understands that the Company’s official language is English and the
Client should always read and refer to the English Version of the Company’s Website for all
information and disclosures about the Company and its activities. Translation or information
provided in languages other than English in the Company’s local websites is for informational
purposes only and does not bind the Company or has any legal effect whatsoever. Thhe Company
shall not bear any responsibility or liability regarding the correctness of the information therein.
Client shall be liable for negative equity on Client’s account which resulted by stoploss
execution, stopout mechanism, trading adjustment, or other non-trading adjustment. Client
must make a payment in full and total to cover liability immediately. The Company may deduct
balance from account belong to the same Client for settlement with or without prior notice to the
Client.
Copy Trade and / or Social Trade
FWNETS and its affiliate are not responsible for any losses caused directly or indirectly by Trading Copy feature. In the event of technical problem, FWNETS will receive and forward reimburse request from client to FirewoodFX. And will reimburse client's losses on BEST EFFORT BASIS
Leader agrees that the account information including but not limited to trading performance, deposit, and withdrawal history may be available for public information.
Partial closing is discouraged due to technical reason
FirewoodFX and its affiliate are not responsible for any losses caused directly or indirectly by Trading Copy feature. It's strongly recommended for the Leader to open the fix-lot size per trade considering that the follower would copy the trade in fix-lot size mode.
Leader agrees that the account information including but not limited to trading performance, deposit, and withdrawal history may be available for public information.
It's recommended for the follower to register account under leader's affliate link considering most of the leaders would only approve the forexcopy request from accounts affiliated with the leader's account.
Partial closing is discouraged due to technical reason. Closing trade using Close-By/Close-Hedge/Multiple-Close-By is STRONGLY DISCOURAGED.
Follower agrees that the account balance and equity information may be disclosed to leader. Follower with equity less than USD 5 may be considered not active and the following ForexCopy service will be discontinued.
It is suggested for follower with 100% volume to have bigger account balance than the leader to prevent any copy failure because of not enough margin.
Any partial closing executed by a leader will result in a full position closing on the follower's account. The remaining open trades will no longer be mirrored into the follower's account
