CLIENT AGREEMENT

Version 8: October 2020

 1. INTRODUCTION
1.1 This Client Agreement (“Agreement”) is entered by and between Exinity Limited (hereinafter the
“Company” or “ALPARI INTERNATIONAL”) and the Client who has completed the on-line registration
form with the title “Complete your Profile”.
1.2 Exinity Limited is a company registered in the Republic of Mauritius with Company Registration Number
119470 C1/GBL. Its registered office is at. 5th Floor, NEX Tower, Rue du Savoir, Cybercity, Ebene 72201,
Republic of Mauritius.
1.3 This Client Agreement, the Terms of Business, the Risk Disclosure, the Complaints Handling Policy, the
Policy Statement, the Regulations for Non-Trading Operations, the Information on Anti – Money
Laundering, the Cookie Policy, (collectively, the “Operative Agreement” or “Agreements”), as well as
any other document located in the “Policies and Regulation” section of the Website as these may be
amended or supplemented from time to time, constitute the entire agreement between the Company
and the Client. The Operative Agreements, as amended from time to time, set out the terms upon
which the Company shall deal with the Client in respect of Instruments. By entering into this
Agreement, the Client accepts and consents to the said agreements and policies.
1.4 The Operative Agreements shall govern all trading activity and non-trading operations of the Client with
the Company and shall be read carefully by the Client. Amongst other things, they set out those matters
which the Company is required to disclose to the Client under the applicable regulations.
1.5 The defined terms used in this Agreement are set out in Appendix A (“Interpretation of Terms”).

2. COMMENCEMENT
2.1 The Operative Agreements shall commence on the date on which the Client receives notice from the
Company in accordance with Clause 3.1 and shall continue unless or until terminated by either party in
accordance with clause 19.
2.2 This Agreement is an initial service agreement which relates to a series of successive or separate
operations including, without limitation, Transactions in Instruments.
2.3 The Company is not to be required to (and may be unable to under Applicable Regulations) accept the
Client as a Client until all documentation it requires has been received by the Company, properly and
fully completed by the Client.
2.4 The Client may cancel/terminate the Agreement on mutual basis.
The Client and the Company may terminate its relationship by the means of both parties
communication via email for any termination.

3. ACCOUNT ACTIVATION
3.1 The Client’s Trading Account shall be activated by the Company giving notice to the Client as soon as:

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

2
 a) the Company has received a completed by the Client on-line registration form with the title
“Complete your Profile”; and
b) the Operative Agreements have been accepted by the Client; and
c) relevant identity checks have been completed to the Company satisfaction.
3.2 The Company reserves the right at its absolute discretion to accept or reject the Client subject to all
documentation requested has been received by the Company, properly and fully completed by the
Client.
3.3 The Company has the right to request minimum initial deposit to allow the Client to start using his
Trading Account.
3.4 Following the account activation, the Client shall be able to view the amount due to him/her as account
balance in MyALPARI (Company’s online portal) at all times and shall have the right to withdraw the
same, on demand. As a result, the Client hereby waives the right to receive a monthly statement, as
per the applicable legislation.
3.5 It is hereby acknowledged and accepted that the Client shall notify the Company of any change of
address/name and gender (where applicable) within 14 days from the change.
3.6 The Client will be penalized if he/she, knowingly or unknowingly, submits false documents, and may be
liable for any loss incurred by the Company due to their act or omission, and would be liable for legal
fees as well.
3.7 The Client will be obliged to confirm that information is true, accurate and complete in all material
respects which is required when reading and accepting the current Client Agreement.

4. CAPACITY
4.1 In relation to any Transaction the Client acts as Principal and not as Agent on behalf of any third party.
This means that unless otherwise agreed, the Company will treat the Client as a Client for all purposes
and the Client shall be directly and fully responsible for performing the obligations under each
Transaction made by or on behalf of the Client.
4.2 If the Client acts in relation to or on behalf of someone else, whether or not the Client identifies that
person, the Company shall not accept that person as an indirect Client and shall accept no obligation to
that person, unless otherwise specifically agreed.
4.3 Any person or Agent notified to the Company as being authorized by the Client may give Instructions
and Requests to the Company concerning any Transaction, or proposed Transaction, or any other
matter.
4.4 The Client authorizes the Company to rely and act on any Request, Instruction or other communication
received from the Client which purports to have been given by the Client or on behalf of the Client
without further enquiry on the part of the Company as to the authenticity, genuineness, authority or
identity of the person giving or purporting to give such Request, Instruction or other communication.
The Client will be responsible for and will be bound by all obligations entered into or assumed by the

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

3
 Company on behalf of the Client in consequence of or in connection with such Requests, Instructions
or other communications.
4.5 Unless the Company receives a written notification from the Client for the termination of the
authorization of the person described in clause 4.3., The Company will continue accepting Requests,
Instructions or other communication given by such person on the Client’s behalf and the Client will
recognize such as valid and committing to him.
4.6 The written notification of clause 4.5. for the termination of the authorization to a third party has to be
received by the Company with at least five (5) Business Days’ notice prior the termination date.
4.7 In the event of the death or mental incapacity of the Client (who is the only person that forms the
Client), the Company will have no responsibility or liability whatsoever in respect of the actions or
omissions or fraud of the authorized third party (appointed under clause 4.3. above) in relation to the
Client’s Trading Account and/or Client Money and the Company will stop accepting Requests,
Instruction or other communications given from the account of the Client upon the Company receives
notice of the death or mental incapacity of the Client.
4.8 In relation to any Transaction, the Company acts as Principal for any duly regulated counterparty,
according to applicable legislation.
4.9 In relation to any Transaction and the Services provided by the Company to the Client, it is the
responsibility of the Client to ensure that the Client can accept the Services and/or enter into the
Transactions in the country in which the Client is resident. It is hereby acknowledged and accepted that
Clients that are resident of the United States will not be on-boarded by the Company.

5. CLIENT MONEY
5.1 Relevant Amounts held on the Trading Account (“Segregated Funds”) will be segregated by the
Company and held in accordance with Applicable Regulations.
5.2 The Company may hold Client Money and the money of other Clients in the same bank account,
according to Applicable Regulations.
5.3 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
5.4 The Company may deposit Client money and/or Financial Instruments with a third party who may, to
the extent allowed under Applicable Regulations, have a security interest, lien or right of setoff in
relation to that money.
5.5 The third party to whom the Company will pass money and/or Financial Instruments may hold it in an
omnibus account and/or it may not be possible to separate it from the Client’s money and/or Financial
Instruments. In the event of the insolvency or any other analogous proceedings in relation to that third
party, the Company may only have an unsecured claim against the third party on behalf of the Client,
and the Client will be exposed to the risk that the money received by the Company from the third party
is insufficient to satisfy the claims of the Client in respect of the relevant account. The Company does
not accept any liability or responsibility for any resulting losses.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

4
 5.6 The Company shall not be obliged to pay interest to the Client on any funds which the Company holds.
The Client waives all rights to interest.
5.7 The Company will promptly place any Segregated Funds held on the Client’s behalf and not transferred
to or held for the Company, into a Segregated Account (subject to and according to Applicable
Regulations).
5.8 Profit or loss from Financial Instruments trading is deposited in/withdrawn from the Client Account
once the Transaction is closed.
5.9 Unless the Client has notified the Company in writing to the contrary, the Company may hold
Segregated Funds on the Client’s behalf in a Segregated Account located outside Mauritius or pass
money held on the Client’s behalf to an intermediate broker, settlement agent or OTC counterparty
located outside Mauritius. The legal and regulatory regime applying to any such person will be different
from that of Mauritius and in the event of the insolvency or any other equivalent failure of that person,
the Client’s money may be treated differently from the treatment which would apply if the money was
held in a Segregated Account in Mauritius. The Company will not be liable for the solvency, acts or
omissions of any third party referred to in this clause. The Company will exercise all due skill, care and
diligence in assessing whether adequate measures will be applied by the third party to protect Client
money.
5.10 The Client agrees that, in the event that there has been no movement on the Client’s Trading Account
Balance for a period of at least six years (notwithstanding any payments or receipts of charges, interest
or similar items) and the Company is unable to trace the Client despite having taken reasonable steps
to do so, the Company may release any Client’s money balances from the Segregated Account.
5.11 The Client agrees that in the event that his/her remaining Trading Account Balance is up to
1 USD/EUR/GBP or NGN and his/her Trading Account is closed or inactive for more than 90 calendar
days, then the Company shall have the right to deduct this remaining Trading Account Balance and use
it for charity purposes at its absolute discretion.
5.12 The Company is member of the Financial Commission Compensation Fund. The Client may be entitled
to compensation from the FCCF if the Company cannot meet its obligations in the situations explained
in the website with reference to the “Financial Commission Compensation Fund”.
5.13 The Company will carry out reconciliations of records and Segregated Funds with the records and
accounts of the money the Company holds in Segregated Accounts on a regular basis, and any required
transfer to or from the Segregated Account will take place by the close of business on the day that the
reconciliation is performed. The Company reserves the right to carry out such reconciliations and
transfers more frequently, should the Company reasonably consider that this is necessary to protect
the Company’s or a Client’s interests.
5.14 The Client agrees that the Company shall not be held liable or have any further obligation in the event
that any credit or financial institution with which Segregated Funds are held defaults in its obligations
with respect to the Segregated Funds.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

5
 6. SERVICES
6.1 Subject to the Client’s obligations under the Operative Agreements being fulfilled and any other rights
of the Company herein in the Operative Agreements, the Company shall offer the following Services to
the Client:
(a) Receive and transmit orders or execute (on an own account basis) orders for the Client in
Financial Instruments acting as Principal;
(b) Grant credit to a Client (as and if applicable), to allow the Client to carry out a transaction in one
or more Financial Instruments, as described in the present clause, provided that the Company is
involved in the aforesaid transaction;
(c) Provide safekeeping and administration of financial instruments for the account of Client (as and
if applicable), including custodianship and related services such as cash/collateral management,
as described in Clause 7 herein;
(d) Provide the Clients access to Investment Research data which may be relevant for Clients’
consideration;
6.2 Subject to the Client’s obligations under the Operative Agreements being fulfilled, the Company may
enter into Transactions with the Client in Instruments specified on the Company website
www.alpari.org.
6.3 The Company shall carry out all Transactions with the Client on an execution-only basis (i.e. on a non –
advisory 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 in the
Operative Agreements, 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.
6.4 Address for cardholder correspondence: [email protected]
6.5 It is hereby acknowledged and accepted that the Company will not be providing the Client with any
investment, legal, regulatory, tax or other form of advice under the current Client Agreement. 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 Client represents that
he/she shall rely on his/her own judgment, sufficient knowledge, market sophistication, professional
advice and experience to make his/her own evaluation of the merits and risks of any Transaction. The
Client may wish to seek independent legal advice in relation to any transaction that the Client proposes
to enter into under this Client Agreement.
6.6 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 deposited in/withdrawn from
the Trading Account once the Transaction is closed.
6.7 The Company shall not provide personal recommendations or advice on the merits of any specific
Transactions.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

6
6.8 The Company may from time to time and at its discretion provide information and recommendations
in newsletters which it may post on the Website or provide to subscribers via the Website or otherwise.
Where it does so:
(a) this information is provided solely to enable the Client to make his/her own investment decisions
and does not amount to investment advice;
(b) 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/she shall not pass it
on to any such person or category of persons;
(c) the 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;
(d) the Client accepts that prior to dispatch, the Company may have acted upon it itself to make use
of the information on which it is based. The Company does not make representations as to the
time of receipt by the Client and cannot guarantee that he shall receive such information at the
same time as other Clients. Any published research reports or recommendations may appear in
one or more screen information service.
(e) It is provided solely to assist the Client to make the Client’s own investment decisions and does
not amount to investment advice or unsolicited financial promotions to the Client.
(f) While the Company ensures that it complies with all relevant legislation of the country of
operation and incorporation, it is however the duty of the Client to abide with the legislation of
Clients country of residence.
6.9 The Company shall have the right to request and the Client shall be obliged to provide information
about the Client’s knowledge and experience in the investment field so that it can assess whether the
service or product envisaged is appropriate for the Client. If the Client elects not to provide such
information to the Company or if the Client provides insufficient information, the Company shall not
be able to determine whether the service or product envisaged is appropriate for the Client. The
Company shall assume that information about his/her knowledge and experience provided from the
Client to the Company is accurate and the Company shall have no responsibility to the Client if such
information is incomplete or misleading or changes or becomes inaccurate unless the Client has
informed the Company of such changes.
6.10 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 shall have no obligation to inform the Client of the
reasons. The Company further reserves the right to suspend, delay and/or amend the provision of any
Services in the event of Abnormal Market Conditions.
6.11 All trade Requests are subject to size considerations. If the requested trade size is larger than the
Company is able to fill at any particular moment due to market conditions, then the Order may be
executed partially or the entire trade or Order may be rejected at the Company’s sole discretion.
6.12 Market commentary, news, or other information are subject to change and may be withdrawn at any
time without notice.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

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6.13 The Company has the right to offer, at its discretion, through the Website, the opportunity for the Client
to open a demo account. The Client is hereby notified and understands that the execution in the demo
environment where a demo account operates might differ from the environment of a live account. the
Company shall not be liable for any loss and/or other damage incurred by reason of such differences.
6.14 The Company reserves the right, at its discretion, at any time to withdraw the whole or any part of the
Services on a temporary or permanent basis and the Client agrees that the Company will have no
obligation to inform the Client of the reason.
6.15 In accordance with common reporting standards, the Client agrees to submit to the Company all the
necessary information about the Client (name, address, jurisdiction of residence, TIN (tax identification
number), date and place of the birth, account number of the Client, and any necessary additional
documents and information at the request of the Company) and agrees to the systematic and periodic
transmission of bulk taxpayer information by the source country to the country of residence. The Client
agrees to transfer his/her personal data to the Company, which is registered as a data controller
according to the law, for identification, administrative, and business purposes necessary for the
Company to fulfil its legal and contractual obligations under this and other agreements between the
parties, with rights to transfer such personal data to auditors, lawyers, financial consultants, and other
service providers and counter-agents contracted by the Company.

7. CONFLICTS OF INTEREST AND MATERIAL INTERESTS

7.1 When the Company deals with or on behalf of the Client, the Company, an associate, or some other
person connected or affiliated with the Company, may have an interest, relationship, or arrangement
that is material in relation to the transaction concerned or that conflicts with the Client’s interest. By
way of example only, when the Company deals with a Transaction for or on behalf of the Client the
Company may be:
a) dealing in the respective Instrument as Principal for the Company’s own account by selling to or
buying the Instrument from the Client;
b) matching the Client’s transaction with that or another client by acting on such other client’s
behalf as well as on the Client’s behalf;
c) dealing in the Instrument which the Company may have recommended to the Client (including
holding a long or short position); or
d) advising and providing other services to associates or other clients of the Company who may
have interests in investments or underlying assets which conflict with the Client’s interests.
7.2 The Client consents to and authorizes the Company to deal with or on behalf of the Client in any manner
which the Company considers appropriate, notwithstanding any conflict of interest or the existence of
any material interest in a transaction, without prior reference to the Client. The Company’s employees
are required to comply with a policy of independence and to disregard any such material interest or
conflict of interest when advising the Client.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

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7.3 Under the Law, the Company is required to take all reasonable steps to detect and avoid conflicts of
interest. The Company is committed to act honestly, fairly and professionally and in the best interests
of its Clients and to comply, in particular, with the principles set out in the Law when providing the
Services.

8. COMMISSIONS, CHARGES AND OTHER COSTS

8.1 The Client shall be obliged to pay the Company the commissions, charges and other costs set out in the
Contracts Specifications. The Company shall display all current commissions, charges and other costs
on its Website.
8.2 The Company may vary commissions, charges and other costs from time to time without prior Written
Notice to the Client. All changes in commissions, charges and other costs are displayed on the
Company’s Website and posting on the Website shall be considered due notice.
8.3 Any commissions or fees which the Company receives or pays will be effected according to the
provisions of Applicable Regulations.
8.4 The Client is hereby informed that in the event where the Client has been introduced to the Company
by a Partner (Introducer and/or Affiliate) of the Company Partners (Pinnacle Services Ltd) and/or of the
Company and/or any third party, the Company may pay a fee and/or commission to the Company
Partners and/or the Partner directly, for services rendered calculated on the basis of the volume traded
by the Client and/or otherwise and/or on the basis of the agreement concluded between the two
parties. Upon request from the Client, the Company shall disclose further details.
8.5 The Client accepts to be notified if the Company pays commissions/fees to any third party who
introduced him or who acts on the Client’s behalf.
8.6 The Client undertakes to pay all stamp expenses relating to this Agreement and any documentation
which may be required for the carrying out of the Transactions.
8.7 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.
8.8 The Company shall have the right to pay, or be paid a fee or commission, provide or provided with any
non-monetary benefit (hereinafter the “inducement”) in connection with the provision of an
investment service or ancillary service to or by any party other than the Client or a person on behalf of
the Client, where the relevant payment or benefit:
(a) is designed to enhance the quality of the relevant service to the Client;
(b) does not impair compliance with the Company’s duty to act honestly, fairly and professionally in
accordance with the best interests of the Client;
8.9 In such a case, the Company shall disclose to the Client, the existence, nature and amount of the
inducement or, where the amount cannot be ascertained, its method of calculation. Where applicable,
the Company shall also inform the Client on mechanisms for transferring to the Client the fee,

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

9
 commission, monetary or non-monetary benefit received in relation to the provision of the investment
or ancillary service.
8.10 In case the Client performs a withdrawal request without any trading activity from the last deposit
made or if any other form of abuse is found the Company reserves the right to:
a) charge the Client the equivalent amount of any deposit fees incurred, or
b) 3% of the total withdrawal amount.
The Client shall be notified via email about processed withdrawal request and applied charges.
8.11 In case the Client does not have any trading activity on all Clients Trading Accounts for a period equal
to 6 (Six) consecutive calendar months or more starting from the last Clients trading activity, the
Company on a monthly basis shall charge the Client an amount of 5 EUR/USD/GBP or NGN equivalent
to USD per account, depending on the Client’s Trading Account currency.
8.12 The Company shall inform its Clients about the fees, commissions or any monetary benefits transferred
to them.
8.13 From Friday to Monday Swaps are calculated once. From Wednesday to Thursday Swaps are calculated
in triple size. Exceptions apply, please refer to Contract Specifications for more information.
8.14 In case of a corporate action on the underlying security of a CFD, and any cash indices, the Company
will transfer to its Clients the economic effect (either positive or negative) of such action as if they were
holding the underlying security as shareholders. This transfer will be done in the form of cash
adjustment, position adjustment, delivery of a new security or CFD, or combination of these according
to the particular corporate action. If the corporate action is complex and the Company is unable to
accurately determine the adjustment, the affected position may be closed before the ex-date.

9. CURRENCY
9.1 The Company is entitled, without prior notice to the Client, to make any currency conversions which
the Company considers necessary or desirable for the purposes of complying with its obligations or
exercising its rights under the Operative Agreements or any Transaction. Any such conversion shall be
effected by the Company in such manner and at such rates as the Company may in its discretion
determine, having regards to the prevailing rates for freely convertible currencies.
9.2 All foreign currency exchange risk arising from any Transaction or from the compliance by the Company
with its obligations or the exercise by it of its rights under the Operative Agreements will be borne by
the Client.

10. PROVIDING QUOTES

10.1 The Company provides Quotes to the Client in accordance with the Terms of Business.
10.2 The Company shall not be obliged to, but may, at its absolute discretion, execute as Principal, the
Client’s Requests and Instructions in respect of any Instrument out of normal trading hours specified in

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

10
 the Contract Specifications for that particular Instrument. In such a case all the trades executed will be
reported and submitted to the Client if required and/or requested.
10.3 It is hereby acknowledged and accepted that it is the responsibility of the Client to ensure that he/she
is informed about the Trading Schedule hours via the Trading Platform internal mail and/or the
information published in the News Webpage, and this shall constitute sufficient Written Notice as per
clause 18 below herein. The Company will have no responsibility and/or liability whatsoever in relation
to the acts and/or omissions of the Client regarding the aforementioned clause.
10.4 The Company specifies Spread for each Instrument in the Contract Specifications. The Company is
entitled to change Spreads without prior Written Notice to the Client subject to the Terms of Business.
Otherwise, the Company shall notify the Client not less than 7 (seven) calendar days prior to any
changes in Spreads.

11. CLIENT’S REQUESTS AND INSTRUCTIONS

11.1 The Company processes and executes Requests and Instructions in accordance with the Terms of
Business.
11.2 The Company is entitled to decline a Request or an Instruction if any of the conditions set out in the
Terms of Business or in clause 11.3 of this Agreement is breached before the Request or Instruction is
processed by the Company. However, the Company may at its absolute discretion, accept and execute
the Request or Instruction, notwithstanding that the conditions in the Terms of Business or in clause
11.3 of this Agreement are breached. If the Company executes the Request or Instruction and becomes
aware of any breach of the conditions set out in the Terms of Business or in clause 11.3 of this
Agreement, the Company may act in accordance with the Terms of Business. The Company may also
establish cut-off times for Instructions or Orders. The Client shall have no claims against the Company
arising out of the fact that an Order was not placed by the Client ahead of the cut-off time. Cut-off
times are possible due to server maintenance, technical failures, planned maintenance or rollover
process.
11.3 The conditions referred to in clause 11.2 are as follows:
(a) a Quote must be obtained from the Company;
(b) a Quote must not be an Indicative Quote;
(c) if a Quote is provided to the Client via the Client Terminal the Client Instruction must be given
whilst the Quote is valid;
(d) The Company receives and accepts the Instruction before the Internet connection or
communication is disrupted;
(e) a Quote must not be manifestly erroneous;
(f) a Quote must not be an Error Quote (Spike);
(g) the Transaction Size must not be less than the minimum Transaction Size for this Instrument
indicated in the Contract Specifications;

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

11
 (h) a Force Majeure Event must not have occurred;
(i) when the Client gives a Request or an Instruction to the Company an Event of Default must not
have occurred in respect of the Client;
(j) when the Client opens a position, the Client shall have sufficient Free Margin to cover the Initial
Margin requirement in respect of that Open Position;
(k) the Company does not suspect that the Client is engaged in money laundering activities or
terrorist financing or other criminal acts;
(l) There is no such consequence of request of regulatory or supervisory authorities of Mauritius or
a court order;
(m) The Company has not sent a notice of Termination of the Client Agreement to the Client.
11.4 Terms defined in the Operative Agreements are subject to the Transaction Size within Normal Market
Size for the specified Instrument (refer to the Website for details). The Company may, at its absolute
discretion, change these terms if the Client wishes to make a Transaction larger than Normal Market
Size for the specified Instrument.
11.5 The Company reserves the right not to accept any offer or to enter into a Transaction with the Client,
e.g., if the Company believes that it will not be able to hedge the proposed Transaction in the
Underlying Market, or the proposed Transaction is of such a size (too small or too large), that the
Company does not wish to accept that Transaction.
11.6 The Company has the right to delete any cancelled Pending Orders older than 1 month from the Client’s
Trading Account history.
11.7 The Client understands, confirms and accepts herein that any and/or all of his/her trading account
history in MetaTrader 4 and/or MetaTrader 5 Platforms may at any time and without prior written
consent and/or notice to the Client, further be archived by the Company to a single summarized line in
the respective MetaTrader 4 and/or MetaTrader 5 trading account, where such trading account history
records exceed a timeframe of one (1) month.
11.8 The Client further, understands, confirms and accepts herein that such archived trading and non-
trading history shall be accessible and/or downloadable at any time from and/or within the Client’s
MyALPARI.
11.9 The Company hereby confirms that Client’s archived original trading history records from MetaTrader
4 and MetaTrader 5 Platforms within the Client’s MyALPARI, shall be accessible and/or downloadable
by the Client at any time through his/her MyALPARI.
11.10 The Company hereby confirms that all Client records and/or trading and non-trading activity, current
and/or past and/or archived shall be maintained for at least seven (7) years after the termination of
the business relationship with the Client and as per applicable legislative requirements.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

12
 12. NETTING
12.1 The amounts payable under the Operative Agreements are automatically converted by the Company
into the Currency of the Trading Account at the relevant exchange rate for spot dealings in the foreign
exchange market.
12.2 If the aggregate amount payable under the Operative Agreements by the Client equals the aggregate
amount payable under the Operative Agreements by the Company, then the obligations to make
payment of any such amount will be automatically satisfied and discharged.
12.3 If the aggregate amount payable under the Operative Agreements by one party exceeds the aggregate
amount payable under the Operative Agreements by the other party, then the party with the larger
aggregate amount shall pay the excess to the other party and all obligations to make payment will be
automatically satisfied and discharged. This provision shall also apply when a Client that may have
multiple Trading Accounts and where an amount is due and owing to the Company from one of the
Trading Accounts whereas there are funds available in any other Trading Account, then the Company
shall be entitled to settle any obligations due by the Trading Account in deficit by transferring funds
from the Trading Account(s) which has funds available. In the event of such transfer, The Company shall
not be liable for any margin call or losses that the Client may suffer, including but not limited to losses
due to Stop-out Level.
12.4 The Client obligations to pay any due amount shall include all commissions, charges and other costs
determined by the Company.
12.5 The Company, under the terms and conditions of Operative Agreements reserves the right at its
absolute discretion, to disable Clients account without prior notice in case it places abnormal number
of erroneous requests which creates an extra-load to the Company’s servers and can cause negative
trading experience to the Clients of the respective servers. Erroneous requests may include but not
limited to invalid stops or modifications, wrong TP or SL, over limit volume or number of orders,
requests with not enough account funds and others.

13. MARGIN REQUIREMENTS

13.1 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 under the Operative Agreements. Such
sums of money shall only be paid to the Company’s bank account in the form of cleared funds. It is the
Client’s responsibility to ensure that the Client understands how a margin is calculated.
13.2 The Client shall pay Initial Margin and/or Hedged Margin at the moment of opening a position. The
amount of Initial Margin and Hedged Margin for each Instrument is defined in the Contract
Specifications.
13.3 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.
13.4 The Company is entitled to change margin requirements without prior Written Notice in the case of
Force Majeure Event.

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as an Investment Dealer under License number C113012295

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13.5 The Company is entitled to apply new margin requirements amended in accordance with clauses 13.3
and 13.4 to the new positions and to the positions which are already open.
13.6 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 the Website.
13.7 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.
13.8 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.
13.9 For the purposes of determining whether the Client has breached clause 13.6 above, any sums referred
to therein which are not denominated in the Currency of the Trading Account shall be treated as if they
were denominated in the Currency of the Trading Account by converting them into the Currency of the
Trading Account at the relevant exchange rate for spot dealings in the foreign exchange market.
13.10 The Client undertakes neither to create nor to have outstanding any security interest whatsoever over,
nor to agree to assign or transfer, any of the Margin transferred to the Company.

14. PAYMENTS
14.1 The Client may deposit funds to the Trading Account at any time. All payments to the Company shall be
made in accordance with Payment Instructions set forth on Client’s Personal area MyALPARI. Under no
circumstances will third party or anonymous payments be accepted.
14.2 Funds deposits and withdrawals to/from the Trading Account shall be governed by the Regulations for
Non-Trading Operations.
14.3 The Client may withdraw funds from the Trading Account at any time in accordance with the clause
14.4.
14.4 If the Client gives an instruction to withdraw funds from the Trading Account, The Company shall pay
the specified amount on the same day that the request to withdraw funds was made, or the next
working day if the Client’s request is received outside of normal trading hours. If the following
requirements are met:
1) the withdrawal instruction includes all necessary information;
2) the instruction is to make a bank transfer to the account of the Client (under no circumstances
will payments to third party or anonymous accounts be accepted);
3) at the moment of payment, the Client’s Free Margin exceeds the amount specified in the
withdrawal instruction including all payment charges.
The Client acknowledges and accepts that the expected destination of outgoing transfers/payments will
be the same as with the expected destination of incoming of funds. The Client will not be allowed to
withdraw his funds by any other method, or to any other country, apart from his/her country of origin.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

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14.5 The Company reserves the right to decline a withdrawal request of the Client asking for a specific
transfer method and the Company has the right to suggest an alternative.
14.6 The Client may withdraw any of his/her profits that exceed the amount deposited from the specific
destination of incoming of funds, from a bank account that belongs to him/her, provided that all the
necessary evidence is submitted to the Company.
However, under exceptional cases, the Company may proceed to send funds to a different country
from the Client's country of residence, provided that all the relevant information and documentation
is submitted by the Client.
14.7 The Company shall debit the Client’s Trading Account for all payment charges. In the event that the
Client instructs the Company to close the Client’s Trading Account, the net amount payable to the
Client shall be the balance amount less any and all bank charges provided the balance amount is greater
than the bank charges; if not, then the Client agrees he will not receive any amount and the account
will be closed without any further transfer of funds taking place.
14.8 If the Client has an obligation to pay any amount to the Company which exceeds the Equity on his/her
Trading Account, the Client shall pay the amount representing the excess within 2 working days of the
obligation arising.
14.9 The Company ensures that losses will not exceed the total available funds per Clients’ trading
account(s) (negative balance protection).
14.10 All incoming payments shall be credited to the Client’s Trading Account no later than one (1) Business
day after funds are cleared by the Company’s bank.
14.11 The Client acknowledges and agrees that (without prejudice to any of the Company’s other rights under
the Operative Agreements to close out the Client’s Open Positions and exercise other default remedies
against the Client) where a sum is due and payable to the Company in accordance with the Operative
Agreements and sufficient cleared funds have not yet been 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 under the Operative Agreements. The payment amount will be converted into
the Currency of the Trading Account at the rate determined by the bank of the Company.
14.12 The Company shall update on a regular basis the available payment system on the deposit & withdrawal
section. The availability of each payment system may differ depending on country of residence
therefore the payment systems available shall be located in the Client Portal.

15. LIMITATIONS OF LIABILITY AND INDEMNITY

15.1 Nothing in the Operative Agreements will exclude or restrict any obligation or liability which the
Company may have or owe to the Client under Applicable Regulations, nor any liability which the
Company may incur under the Law or Applicable Regulations in respect of a breach of any such
obligation, nor will anything in the Operative Agreements require the Client to indemnify or
compensate the Company to any extent prohibited by Applicable Regulations.

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15.2 In the event the Company provides advice, information or recommendations to the Client, the
Company shall not be responsible for the profitability of such advice, information or recommendations.
The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross
negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any
inaccuracy or mistake in any information given to the Client including, without limitation, information
relating to any Transactions. Subject to the right of the Company to void or close any Transaction in the
specific circumstances set out the Operative Agreements, any Transaction following such inaccuracy or
mistake shall nonetheless remain valid and binding in all respects on both the Company and the Client.
15.3 The Company shall not be liable for any loss or expense incurred by the Client in connection with, or
directly or indirectly arising from:
(a) Any error or failure in the operation of the Trading Platform or any delay caused by the Client
Terminal;
(b) Transactions made via the Client Terminal;
(c) Any failure by the Company to perform any of its obligations under the Operative Agreements
as a result of a Force Majeure or a cause beyond its control; or
(d) The acts, omissions or negligence of any third party.
(e) All Orders given through and under the Client’s Access Data;
(f) Unauthorized third persons having access to information, including electronic addresses,
electronic communication, personal data and Access Data when the above are transmitted
between the Parties or any other party, using the internet or other network communication
facilities, post, telephone, or any other electronic means;
(g) A delay transmitting any Order for Execution;
(h) The solvency, acts/representations or omissions of any third party;
(i) Currency risk;
(j) Slippage;
(k) Any of the risks relating to CFDs trading materialises;
(l) Any changes in the rates of tax;
(m) The Client using Trailing Stop and/or Expert Adviser;
(n) The Client relying in Stop Loss Orders;
(o) Information relating to Trading Schedule hours.
15.4 The Client shall indemnify the Company and keep the Company indemnified on demand in respect of
all liabilities, costs (including without limitation any legal cost, penalties and any interest), claims,
damages, demands, losses and expenses of any nature whatsoever which the Company suffers or incurs
as a direct or indirect result of any failure by the Client to perform any of the Client’s obligations under
the Operative Agreements and/or which may arise in relation to the execution or as a result of the

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

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 execution of the Client Agreement and/or in relation to the provision of the Services and/or in relation
to any Order
15.5 The Company shall in no circumstances be liable to the Client for any consequential special or indirect
losses, loss of profits, loss of opportunity (including in relation to subsequent market movements),
costs, expenses or damages the Client may suffer in relation to the Operative Agreements, unless
otherwise agreed in the Terms of Business.
15.6 In the event of a negative balance in a retail Client account, the Company will not file a claim against
the Client for that amount, except in cases where the Client has used illicit methods to create it.
15.7 Without prejudice to any other clauses of this Client Agreement, and to the extent permitted by
Governing Legislation, the Company will have no liability to the Client in relation to any loss, costs or
expenses that may be suffered by the Client as a result of technology limitations/ failures, server
maintenance, planned maintenance, custodian rollover process, including but not limited to:
(a) any delay or defect in or failure of the whole or any part of the Company’s software or any systems
or network links or any other means of communication; or
(b) any computer viruses, worms, software bombs or similar items being introduced into Client’s
computer hardware or software except where such loss, cost or expense is a result of the Company’s
own negligence, fraud or willful default.

16. COMPLAINTS MANAGEMENT PROCEDURE

16.1 If any conflict situation arises when the Client reasonably believes that the Company as a result of any
action or failure to act has breached one or more of the terms of the Operative Agreements, the Client
has the right to lodge a complaint with the Company as soon as reasonably practicable after the
occurrence of the event.
16.2 The Client may in certain cases refer the matter to the Financial Services Commission of Mauritius.
16.3 The Client’s right to take legal action remains unaffected by the existence or use of any complaints
procedures referred to above. However, the Financial Services Commission may not adjudicate on any
cases where litigation has commenced.

Complaints Procedure
16.4 To file any complaint, the Client shall follow the procedure outlined in the Complaints Handling Policy
posted on the Website.
16.5 The Company has the right to dismiss a complaint in case it does not comply with the requirements set
out above.

Server Log File

16.6 The Server Log File is the most reliable source of information in a case of any dispute. The Server Log
File has the absolute priority over other arguments including the Client Terminal Log File as the Client

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 Terminal Log File does not register every stage of the execution of the Client’s Instructions and
Requests.
16.7 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
16.8 The Company may indemnify the Client by:
(a) crediting/debiting the Client’s Trading Account: this correcting entry will have an explanatory
narrative; and/or
(b) reopening erroneously closed positions; and/or
(c) deleting erroneously opened positions or placed Orders.
16.9 The Company has the right to choose the method of indemnification at its sole discretion.
16.10 Complaints on matters not mentioned in the Operative Agreements and/or Complaint Handling Policy
are resolved in accordance with the common market practice and at the sole discretion of the
Company.
16.11 If the Quotes Flow has been interrupted due to a software and/or hardware failure, all decisions in
regard to the Dispute shall be made on a basis of the live Server’s Quotes Base synchronized in
accordance with the Terms of Business.
16.12 The Company shall not be liable to the Client if for any reason the Client has received less profit than
the Client had hoped for or has incurred a loss as a result of uncompleted action which the Client had
intended to complete.
16.13 The Company shall not be liable to the Client in regard to any indirect, consequential or non‐financial
damage (emotional distress, etc.).
16.14 The Compliance Department shall consider any Client’s complaint and endeavor to investigate any
Dispute or complaint as soon as reasonably practicable. All complaints will be considered within five
Business Days from the day the complaint is received.

Complaints
16.15 If the Client has 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 which are given
during such a construction period, are not accepted. The fact that the Client has not received a notice,
despite reasonable steps taken by the Company, shall not constitute a reason to lodge a complaint.
16.16 Complaints in regard to a Transaction or Order execution based on the difference in the prices for the
Contract for Difference in the Trading Platform and for the underlying asset of the Contract for
Difference are not accepted.
16.17 Complaints in regard to time of Order execution notwithstanding the amount of time a Dealer needed
to execute the Order as well as the time when the Server Log‐File Recorded Order execution are not

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

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 accepted, unless the Order placed in the queue has not been executed as the Terms of Business
provide.
16.18 No Client complaints shall be accepted in regard to the financial results of the deals made using
temporary excess Free Margin on the Trading Account gained as a result of a profitable position
(cancelled by the Company afterwards) opened at an Error Quote (Spike) or at a Quote received as a
result of a Manifest Error.
16.19 In regard to all Disputes any references by the Client to the Quotes of other companies or information
systems shall not be taken into account.
16.20 The Client acknowledges that he/she shall not be able to manage the position while the Dispute in
regard to this position is being considered and no complaints in regard to that matter are accepted.
16.21 Once the Dispute has been resolved the Company has the right to trigger the Stop Loss or Take Profit
in the chronological order in which they would have been triggered if the Stop Out had not been
executed.
16.22 The Company has the right to void any Transaction if the corresponding hedge trade has been cancelled
by a Liquidity Provider.
16.23 It is hereby acknowledged and accepted that the Client should consult the Complaints Handling Policy
found on the Company’s website, as amended from time to time, vis-à-vis the initiation of the above
procedure.

17. COMMUNICATIONS
17.1 The rules of communication between the Client and the Company are set out in the Terms of Business.
17.2 The Client shall give Instructions and Requests only via the Client Terminal, in accordance with the
Terms of Business.

18. WRITTEN NOTICE

18.1 Any Written Notice given under this Agreement may be made as follows:
(a) Trading Platform internal mail;
(b) email;
(c) post; or
(d) information published on the Company News Webpage.
18.2 All contact details provided by the Client, e.g. address, email address as last notified shall be used as
applicable. The Client agrees to accept any notices or messages from the Company at any time.
18.3 Any such Written Notice shall be deemed to have been served:
(a) if sent by email, within one hour after emailing it;

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

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 (b) if sent by Trading Platform internal mail, immediately after sending it;
(c) if sent by post, seven calendar days after posting it;
(d) if posted on the Company News Webpage, within one hour after it has been posted.
18.4 For the purpose of clause 18, “business hours” mean between 8:00 a.m. and 5:00 p.m. on a Business
Day.

19. AMENDMENT AND TERMINATION

19.1 The Client acknowledges that the Company has the right to unilaterally modify the terms and conditions
of the Operative Agreements at any time and at its sole discretion, giving to the Client Written Notice
by email and/or by posting the modification on the Company Website and the Client shall have an
option to terminate the present by giving notice in writing. The Client acknowledges that a variation
which is made to reflect a change of law or regulation may, if necessary, take effect immediately.
19.2 Both parties to the Agreement can terminate by giving such notice in Writing to the other Party.
19.3 Any such termination will not affect any obligation which has already been incurred by either the Client
or the Company in respect of any Open Position or any legal rights or obligations which may already
have arisen under the Operative Agreements or any Transactions and deposit/withdrawal operations
made thereunder.
19.4 Upon termination of this Agreement, the Company shall be entitled without prior notice to the Client
to cease to grant the Client access to the Trading Platform.
19.5 Upon termination of this Agreement, all amounts payable by the Client to the Company shall become
immediately due and payable including (but without limitation):
(a) all outstanding fees, charges and commissions;
(b) any dealing expenses incurred by terminating this Agreement and charges incurred for
transferring the Client’s investments to another investment firm; and
(c) any losses and expenses realized in closing out any Transactions or settling or concluding
outstanding obligations incurred by the Company on the Client’s behalf.
(d) Any charges and additional expenses incurred or to be incurred by the Company as a result of the
termination of the Agreement;
(e) Any damages which arose during the arrangement or settlement of pending obligations.

19.6 Upon Termination the Company reserves the right to keep Client’s funds as necessary to close positions
which have already been opened and/or pay any pending obligations of the Client under the
Agreement.

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19.7 Upon Termination the Company reserves the right to combine any Client Accounts of the Client, to
consolidate the Balances in such Client Accounts and to set off those Balances and close the Client
Account.
19.8 Upon termination of this Agreement the Company will be entitled without prior notice to the Client to
cease to grant the Client access to market data and/or Close the Client Account and/or convert any
currency and/or suspend or freeze or close any open positions or reject Orders.
19.9 Upon Termination if there is Balance in the Client’s favour, the Company will (after withholding such
amounts that in the Company’s absolute discretion considers appropriate in respect of future liabilities)
pay such Balance to the Client as soon as reasonably practicable and supply him with a statement
showing how that Balance was arrived at and, where appropriate, instruct any Nominee or/and any
Custodian to also pay any applicable amounts. Such funds shall be delivered in accordance to the
Client’s Instructions to the Client.

20. HOW WE USE YOUR PERSONAL INFORMATION

20.1 The Company may use, store or otherwise process personal information provided by the Client in
connection with the provision of the Services.
20.2 If the Client is an individual, the Company is obliged to supply the Client, on request, with a copy of
personal data which it holds about the Client (if any).Client will not have to pay a fee to access the
personal data (or to exercise any of the other rights). However, Company may charge a reasonable fee
if the request is clearly unfounded, repetitive or excessive.
20.3 By entering into this Agreement, the Client expressly consents to the Company transmitting the Client’s
Information to any third parties which may require same in order to effectively implement the Services
or effectively executing any operational function performed to the Company to Client (e.g. refunding
the Client his money).
20.4 Telephone conversations between the Client and the Company may be recorded. Any recordings shall
be and remain the sole property of the Company and will be accepted by the Client as conclusive
evidence of the Instructions/Requests or conversations so recorded. The Client agrees that the
Company may deliver copies of transcripts of such recordings to any court, regulatory or government
authority.
20.5 The Client is encouraged to consult the Company’s Policy Statement in the Company’s website here in
regard to the aforesaid clause.

21. CONSENT TO DIRECT CONTACT

21.1 The Client accepts that the Company, for the purpose of marketing financial services and products,
may, from time to time, make direct contact with the Client by telephone or otherwise upon the Client’s
consent. Once such a consent is obtained the Client agrees to such communications and agrees that
the Client shall not consider such communication a breach of any of the Client’s rights under any

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

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 relevant data protection and/or privacy regulations. The Client may opt out of receiving such
communications by sending the Company an e-mail at: [email protected]
21.2 The Client accepts that the Company, for the purpose of complying with FATCA and CRS, shall have the
right to request any information or documentation reasonably required and the Client shall be obliged
to provide the same to the Company immediately.

22. CONFIDENTIALITY AND WAIVER

22.1 The information which the Company holds about the Client is confidential and shall not be used for any
purpose other than in connection with the provision of the Services. Information of a confidential
nature shall be treated as such provided that such information is not already in the public domain or in
the legal possession of the Company and was not subject to an obligation of confidence or non-
disclosure at the moment of its receipt by the Company. Information of a confidential nature shall only
be disclosed to any person, in the following circumstances:
(a) in compliance with the Foreign Accounting Tax Compliance Act (FATCA), and the Common
Reporting Standard (CRS);
(b) where required by law or as requested by regulatory and enforcement authorities, courts and
similar bodies which have jurisdiction over the Company;
(c) to investigate or prevent fraud or other illegal activity;
(d) to those members of the Company’s personnel who require information thereof for the
performance of their duties under the Operative Agreements or to any third party in connection
with the provision of Services to the Client by the Company;
(e) for purposes ancillary to the provision of the Services or the administration of the Client’s Trading
Account, including, without limitation, for the purposes of credit or identification enquiries or
assessments;
(f) at the Client’s request or with the Client’s consent;
(g) to the Company’s consultants, lawyers, auditors, provided that in each case the relevant
professional shall be informed about the confidential nature of such information and commit to
the confidentiality herein obligations as well;
(h) in judicial proceeding between the Company and the Client.

23. TIME OF ESSENCE

23.1. Time shall be of the essence in the Operative Agreements.

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 24. DEFAULT
24.1. Each of the following constitutes an “Event of Default”:
(a) the failure of the Client to provide any Initial Margin and/or Hedged Margin, or other amount
due under the Operative Agreements;
(b) the failure of the Client to perform any obligation due to the Company;
(c) any breach of section 13 or 14 of the Agreement by the Client;
(d) the initiation by a third party of proceedings for the Client’s bankruptcy (if the Client is an
individual) or for the Client’s winding-up or for the appointment of an administrator or receiver
in respect of the Client or any of the Client’s assets (if the Client is a company) or (in both cases)
if the Client makes an arrangement or composition with the Client’s creditors or any procedure
which is similar or analogous to any of the above is commenced in respect of the Client;
(e) where any representation or warranty made by the Client in Clause 25 herein is or becomes
untrue;
(f) the Client is unable to pay the Client’s debts when they fall due;
(g) the Client (if the Client is an individual) dies or becomes of unsound mind;
(h) any other circumstance where the Company reasonably believes that it is necessary or desirable
to take any action set out in Clause 24.2 herein.
(i) the Client attempts and/or performs any of the actions which shall be determined by the
Company as fraud, manipulation, swap-arbitrage or other forms of deceitful or fraudulent
activity in the Client’s account or accounts with the Company;
(j) the Client has carried out trading:
• which can be characterized as excessive without a legitimate intent, to profit from
market movements;
• while relying on price latency or arbitrage opportunities;
• which can be considered as market abuse;
• during Abnormal Market Conditions.
(k) an action set out in paragraph 24.2 is required by a competent regulatory authority or body or
court;
(l) in cases of material violation by the Client of the requirements established by legislation of the
Republic of Mauritius or other countries, such materiality determined in good faith by the
Company;
(m) if the Company suspects that the Client is engaged into money laundering activities or terrorist
financing or other criminal activities;

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In case events specified in 24.1. (g) take place, the remaining balance shall be sent to next of kin or other
person who can prove his inheritance rights, considering that appropriate confirming documents have been
provided.
24.2. If an Event of Default occurs the Company may, at its absolute discretion, at any time and without prior
Written Notice, take one or more of the following steps:
(a) terminate the Client Agreement without notice;
(b) close out all or any of the Client’s Open Positions at current Quotes;
(c) debit the Client’s Trading Account(s) for the amounts which are due to the Company;
(d) close any or all of the Client’s Trading Accounts held with the Company;
(e) refuse to open new Trading Accounts for the Client;
(f) adjust the Client’s trading account balance to remove illicit profit;
(g) convert any currency.

25. REPRESENTATIONS AND WARRANTIES

25.1. The Client represents and warrants to the Company, and agrees that each such representation and
warranty is deemed repeated each time the Client gives an Instruction or Request by reference to the
circumstances prevailing at such time, that:
(a) the information provided by the Client to the Company in the “Complete your Profile” Form and
the Operative Agreements and/or any subsequent form and/or document provided at the time
of registration, and at any time thereafter is true, valid, authentic, accurate and complete in all
material respects;
(b) the Client has read and fully understood the terms of the Operative Agreements including the
Risk Disclosure;
(c) the Client is duly authorized to enter into the Operative Agreements, to give Orders, Instructions
and requests and to perform its obligations thereunder;
(d) the Client acts as Principal and not as agent or representative or trustee or custodian on behalf
of someone else. The Client may act on behalf of someone else only if the Company specifically
consents to this in writing and provided all the documents required by the Company for this
purpose are received;
(e) the Client is an individual who has completed a “Complete your Profile” Form or, if the Client is
a company, the person who has completed “Complete your Profile” Form on the Client’s behalf
is duly authorized to do so;
(f) if the Client is a company, the Client is duly and lawfully registered and existing under the laws
of the jurisdiction of its incorporation;

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(g) all actions performed under the Operative Agreements shall not violate the applicable
regulations or any law, ordinance, charter, by-law or rule applicable to the Client or to the
jurisdiction in which the Client is resident, or any agreement by which the Client is bound or by
which any of the Client’s assets are affected;
(h) the Client consents to the provision of the information of the Operative Agreements by means
of the Website and/or any other means which the Company chooses at its sole discretion;
(i) the Client confirms that he/she has regular access to the internet and consents the Company
provides him/her with information, including, without limitation, information about
amendments to the terms and conditions, costs, fees, the Operative Agreements, Policies and
information about the nature and risks of investments by posting such information on the
Company’s Website;
(j) the Client funds and/or any Financial Instruments, which the Client may deliver to the Company
in accordance with the terms of this Agreement are not in any direct or indirect way the proceeds
of any illegal activity or used or intended to be used for terrorist financing;
(k) the Client funds and/or any Financial Instruments, which the Client may deliver to the Company
in accordance with the terms of this Agreement, are owned by the Client and are free of any lien,
charge, pledge or other encumbrance or claim by any third party
(l) the Client has chosen the particular type of service and financial instrument, taking his/her total
financial circumstances into consideration which he/she consider reasonable under such
circumstances;
(m) the Client will make use of the services and/or prices offered under this Agreement in good faith
and, where applicable, acting in accordance with accepted market practice;
(n) the Client has declared in the Account Opening Application Form if he is a Politically Exposed
Person and will notify the Company if at any stage during the course of this Client Agreement, he
becomes a Politically Exposed Person;
(o) there are no restrictions on the markets or financial instruments in which any Transactions will
be sent for execution, depending on the Client’s nationality or religion.
(p) The Client hereby represents that the purpose of his/her transactions with the Company is one
or more of the following:
• Speculative;
• Hedging;
• Investments;
• Intraday Trading;
• Manage Risk.
In the event where the purpose is other than the above, or at any stage during the course of this
Agreement the purpose changes, the Client undertakes the strict obligation to notify the
Company.

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 (q) The Client hereby represents that the nature of business for entering into the present Agreement
is one or more of the followings:
• Trading in CFDs;
• Trading in Forex;
• Trading in CFDs in Commodities;
• Trading in CFDs in Precious Metals;
• Trading in CFDs on Indices;
• Trading in Real Stock.
In the event where the nature is other than the above, or at any stage during the course of this
Agreement the nature changes, the Client undertakes the strict obligation to notify the Company.
25.2. In addition to all other rights and remedies available to it, the Company has the right to render any
position voidable or to close out any or all positions at the current Quotes at any time, at its absolute
discretion, if the Client breaches Clause 26.1 herein.
25.3. The Client shall be under an ongoing obligation to inform the Company if the Client’s tax status changes.
25.4. If the Client is an employee or contractor of a financial services firm or any other firm that has controls
over the financial transactions in which its employees and contractors deal, the Client will give the
Company proper notice of this and of any restrictions that apply to Clients’ dealing.
25.5. The Client will not use the prices the Company makes available to the Client for any purpose other than
for his own trading purposes, and the Client agrees not to redistribute the prices the Company makes
available to the Client to any other person whether such redistribution be for commercial or other
purposes.
25.6. The Client will use the services offered by the Company pursuant to this Client Agreement in good faith
and, to this end, the Client will not use any electronic device, software, algorithm, or any trading
strategy or any arbitrage practices (such as but not limited to latency abuse, price manipulation or time
manipulation) that aims to manipulate or take unfair advantage of the way in which the Company
makes available bid or offer prices. In addition, the Client agrees that using any device, software,
algorithm, strategy or practice in his dealings with the Company whereby the Client is not subject to
any downside market risk will be evidence that the Client is taking unfair advantage of the Company.
25.7. The Client and/or potential Client has been clearly informed that, in the provision of the service, the
Company is not required to assess the appropriateness of the product or service provided and/or
offered and that, therefore, he/ she does not benefit from the corresponding protection of the relevant
conduct of business rules.
25.8. If a situation arises that is not covered under this Agreement, the Company shall aim to resolve the
matter and/or handle the situation on the basis of good faith, and where applicable, in accordance with
market practice; in such a situation, the Client agrees to provide any information and/or documentation
and/or do any such acts, as the Company may request on the basis of good faith, and where applicable
in accordance with accepted market practices, in order to respond to such a situation.

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 26. FORCE MAJEURE
26.1. 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:
(a) any act, event or occurrence (including, without limitation, any national emergency, strike, riot
or civil commotion, , government actions, acts of terrorism, outbreak or threat of war or
hostilities, act of God, earthquake, epidemic, accident, fire, flood, storm, breakdown,
interruption or malfunction of power supply, electronic, communication equipment or supplier
failure, civil unrest, statutory provisions, lock-outs, or any other international calamity, economic
or political crisis, or natural disaster which, in the Company’s reasonable opinion, prevents the
Company from maintaining an orderly market in one or more of the Instruments;
(b) 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;
(c) abnormal Market Conditions; or
(d) any event, act or circumstances not reasonably within the Company’s control and the effect of
that event(s) is such that the Company is not in a position to take any reasonable action to cure
the default.
26.2. If the Company determines in its reasonable opinion that a Force Majeure Event exists (without
prejudice to any other rights under the Operative Agreements) the Company may without prior Written
Notice and at any time take any of the following steps:
(a) increase margin requirements; or
(b) close out any or all Open Positions at such prices as the Company considers in good faith to be
appropriate; or
(c) suspend or freeze or modify the application of any or all terms of the Operative Agreements to
the extent that the Force Majeure Event makes it impossible or impractical for the Company to
comply with them; or
(d) 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.
(e) increase Spreads;
(f) decrease Leverage.
26.3. Except as expressly provided in this Client Agreement, the Company will not be liable or have any
responsibility for any type of loss or damage arising out of any failure, interruption, or delay in
performing its obligations under this Client Agreement where such failure, interruption or delay is due
to a Force Majeure event.

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 27. MISCELLANEOUS
27.1. The Company has the right to suspend the Client’s Trading Account at any time for any good reason
(including Abnormal Market Conditions) with or without Written Notice to the Client.
27.2. The Company reserves the right to suspend, close or unwind any Transaction which has resulted from
any miss-configuration, technical error or if the Company suspects any fraud, manipulation, arbitrage
or other forms of deceitful or fraudulent activity in a Client’s account or multiple accounts with the
Company or otherwise related or connected to the any and/or all Transactions. Under such
circumstances the Company shall be entitled to withdraw any profits and charge any costs which it
deems, in its sole discretion, to have been inappropriately gained and shall not be liable for the
cancellation of any Transaction or profits or in the event of any damages or losses which may result
from the suspension, closure or unwinding.
27.3. In the event that a situation arises that is not covered under the Operative Agreements, 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.
27.4. No single or partial exercise of, or failure or delay in exercising any right, power or remedy (under
these terms or at law) by the Company shall constitute a waiver by the Company of, or impair or
preclude any exercise or further exercise of, that or any other right, power or remedy arising under
the Operative Agreements or at law.
27.5. Any liability of the Client to the Company under the Operative Agreements may in whole or in part be
released, compounded, compromised or postponed by the Company in its absolute discretion
without affecting any rights in respect of that or any liability not so waived, released, compounded,
compromised or postponed. A waiver by the Company of a breach of any of the terms of the Operative
Agreements or of a default under these terms does not constitute a waiver of any other breach or
default and shall not affect the other terms. A waiver by the Company of a breach of any of the terms
of the Operative Agreements or a default under these terms will not prevent the Company from
subsequently requiring compliance with the waived obligation.
27.6. The rights and remedies provided to the Company under the Operative Agreements are cumulative
and are not exclusive of any rights or remedies provided by law.
27.7. The Company may assign the benefit and burden of the Operative Agreements to a third party in
whole or in part, provided that such assignee agrees to abide by the terms of the Operative
Agreements. Such assignment shall come into effect ten Business Days following the day the Client is
deemed to have received notice of the assignment in accordance with the Terms of Business.
27.8. If any term of the Operative Agreements (or any part of any term) 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 or the Terms of Business, but the
enforceability of the remainder of Operative Agreements shall not be affected.
27.9. 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 Operative Agreements without prior written

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 consent of the Company and any purported assignment, charge or transfer in violation of this term
shall be void.
27.10. 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.
27.11. In the event of the death or mental incapacity of one of the persons which form the Client, all funds
held by the Company or its Nominee, will be for the benefit and at the order of the survivor Account
Holder(s) and all obligations and liabilities owed to the Company will be owed by such survivor(s).
27.12. The Client accepts and understands that the Company’s official language is the English language and
the Client should always read and refer to the main 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 do not bind the Company or have
any legal effect whatsoever, the Company having no responsibility or liability regarding the
correctness of the information therein.
27.13. The Company, under the terms and conditions of this Agreement and in accordance with its internal
policies and procedures, reserves the right in its absolute discretion, to create a dormant accounts
policy and/or to impose on any dormant and/or inactive account a handling fee of $5/€5/£5/₦5 or
equivalent per month and/or close the trading account upon and/or after the period of six (6)
consecutive months of inactivity in the following cases:
a) Where a Client has not transacted with the Company for a period of six (6) consecutive months
and the Company will deem the trading account to be dormant and/or inactivate;
b) Where a Client’s dormant and/or inactivate account(s) has a positive cash balance, the
Company reserves the right at its absolute discretion to apply and/or impose a handling fee of
$5/€5/£5/₦5 or equivalent per month and as this may be amended from time to time by the
Company;
c) Where a Client makes a genuine attempt to resolve their account balances, the Company
reserves the right to waive any and/or all payments and/or fees at its own and absolute
discretion;
d) Where a Client’s dormant account and/or inactivate account(s) has a zero cash balance the
handling fee of $5/€5/£5/₦5 or equivalent per month shall not be imposed by the Company,
however, the Company will reserve the right to close the account(s) upon and/or after the
period of six (6) consecutive months of inactivity.

28. GOVERNING LAW AND JURISDICTION

28.1. This Agreement shall be governed by and construed in accordance with the laws of the Republic of
Mauritius.

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28.2. In the event of a dispute arising out of or relating to the Agreement, the Client irrevocably agrees that
the parties to the Agreement shall first seek settlement of that dispute with the Company under the
dispute resolution mechanism set out in the Terms of Business and Regulations for Non-Trading
Operations, as well as in accordance with the Complaint Management Policy.
28.3. If the dispute is not satisfactorily settled under the Complaint Management Policy, the parties to the
Agreement shall seek the settlement thereof by mediation in accordance with the Dispute Resolution
procedure.
28.4. Rules/Process of the external dispute resolution organization – the Financial Commission
(www.financialcommission.org) – are deemed to be incorporated into this chapter (the “Mediation
Rules”).
28.5. With respect to any proceedings, the Client irrevocably:
(a) agrees that the courts of the Republic of Mauritius shall have exclusive jurisdiction to settle any
disputes in connection with the Agreement; and
(b) submits to the jurisdiction of the courts of the Republic of Mauritius; and
(c) waives his/her right to any objection which the Client may have at any time to the filing of any
legal cases in any such courts; and
(d) agrees not to claim that such proceedings have been brought in an inconvenient forum or that
such court does not have jurisdiction over the Client.
28.6. Intellectual Property Legal Clause:
28.7. The Client hereby is deprived from any right to use “ALPARI” or “ALPARI INTERNATIONAL” as the part
of or a sole word while registering domain names or as the part of or a sole word while taking
nickname in any social network and/or from any other unauthorized usage of “ALPARI” or “ALPARI
INTERNATIONAL” for personal needs. All copyrights, trademarks, trade secrets, and other intellectual
property rights and proprietary rights to the Website in its totality, its contents, and any related
materials (“Company’s IP”) shall remain at all times the sole and exclusive property of the Company
and the Client shall have no right or interest in the Company’s IP except for the right to access and
use the Company’s IP as specified in the Agreement. The Client acknowledges that the Company’s IP
is confidential and has been developed by means of substantial investments of skill, time, effort, and
money. The Client shall protect the confidentiality of the Company’s IP and not allow website access
to any third party. The Client shall not publish, distribute, or otherwise make the Company liable to
third parties, any information derived from or relating to the Company IP. The Client shall not copy,
modify, decompile, reverse engineer, or make derivative works of the Company’s IP.
28.8. The Client irrevocably waives to the fullest extent permitted by law, with respect to the Client and the
Client’s revenues and assets (irrespective of their use or intended use), all immunity (including but
not limited to grounds for diplomatic immunity or other similar grounds) from (a) suit or arbitral
proceedings, (b) the jurisdiction of any courts, (c) relief by way of injunction, order for specific
performance, or for recovery of property, (d) attachment of their assets (whether obtained before or
after judgment) and (e) the execution or enforcement of any judgment to which the Client or the
Client's revenues or assets might otherwise be the subject matter in any proceedings in the courts of

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

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 any jurisdiction and irrevocably agrees to the extent permitted by any applicable law that the Client
will not claim any such immunity in any proceedings. The Client consents generally in respect of any
proceedings to the provision of any relief or the initiation of any process in connection with such
proceedings, including, without limitation, the making, enforcement, or execution against any
property whatsoever of any order or judgment which may be made or given in such proceedings.
28.9. In the case of a dispute which cannot be resolved following the Dispute Resolution procedure
provided in Clause 31 below, the parties submit to the jurisdictions of the Courts of the Republic of
Mauritius.

29. USE OF THE TRADING PLATFORM, ACCESS DATA, AND SAFETY

29.1. The Client shall not proceed in any action that could probably allow the irregular or unauthorized
access or use of the Trading Platform. The Client accepts and understands the Company reserves the
right, at its discretion, to terminate or limit his access to the Trading Platform if it suspects that he/she
allowed such use.
29.2. When using the Trading Platform, the Client shall not, whether by act or omission, do anything that
shall or may violate the integrity of the Platform or cause it to malfunction.
29.3. 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.
29.4. The Client is solely responsible for providing and maintaining the compatible equipment necessary to
access and use the Trading Platform.
29.5. The Client agrees to keep secret and not to disclose any Access Data to any person other than an
individual who has been expressly authorized to act on his behalf.
29.6. The Client agrees to notify the Company immediately if he knows or suspect that his Access Data has
or may have been disclosed to any unauthorized person.
29.7. The Client agrees to co-operate with any investigation the Company may conduct into any misuse or
suspected misuse of his Access Data.
29.8. The Client accepts that he shall be liable for all orders given through and under his/her Access Data
and any such orders received by us shall be considered as received by him/her. In cases where a third
person is assigned as an authorized representative to act on his/her behalf the Client shall be
responsible for all orders given through and under his representative’s Access Data.
29.9. The Client acknowledges that the Company bears no responsibility if unauthorized third persons have
access to information, including electronic addresses, electronic communication and personal data,
when the above are transmitted, using the internet or other network communication facilities, post,
telephone, or any other electronic means.

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29.10. With respect to market data and/or other information which the Company and/or any third party
service provider may provide the Client in connection with the use by the Client of the Company’s
Online Trading System, the Client agrees:
(a) that the Company or such third party shall not be responsible or liable:
i) if such data or information is found to be incorrect, inaccurate or incomplete and/or
ii) for any actions taken or not taken by the Client on the basis of such data or information;
(b) to use such data or information solely for the purposes set out in this Client Agreement and in
compliance with Applicable Regulations and/or other legislation, at all times;
(c) that such data or information belong to and are the property of the Company or such third party and
that the Client shall not be permitted to publish, transmit or otherwise reproduce such data or
information, in whole or in part, and in any format to any third party except as required by Applicable
Regulations and/or without the Company’s express written consent;
(d) to pay such fees and/or applicable taxes (if applicable) associated with the use of the Company Online
Trading System or use of such data and/or information, as such fees may be communicated to the
Client from time to time;
(e) to provide the Company, immediately upon request by the Company, with such information in
relation to the Client and the Client’s use or intended use of market data;
(f) that the Company may monitor the Client’s use of market data; and
(g) that the Company may at its discretion remove the Client’s access to market data at any time.
29.11. The Client represents and warrants that he will not use the Company’s Online Trading System in
contravention of this Client Agreement, that he will use the Company’s Online Trading System only for
the benefit of his Client Account and not on behalf of any other person, and that he will not use (or
allow another person to use) any software, program, application or other device, directly or indirectly,
to access or obtain information through the Company’s Online Trading System or automate the process
of accessing or obtaining such information.

30. RISK DISCLOSURE

30.1. The Company discloses and the Client acknowledges that he/she runs a great risk of incurring losses
and damages as a result of the purchase and/or sale of any financial instrument and accepts that
he/she is willing to undertake this risk.

31. TRADING BENEFITS

31.1. In the event where the Client agrees to participate in a bonus scheme, and/or other promotion,
and/or contest which offers a trading benefit (hereinafter the “Trading Benefits Scheme”), the
following terms and conditions shall apply:

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 (a) The Client shall not be entitled to participate in more than one Trading Benefit Scheme at the same
time, unless otherwise explicitly provided in the applicable terms and conditions of the Trading
Benefit Scheme.
(b) The Company shall not be liable for any margin call or losses that the Client may suffer, including but
not limited to losses due to Stop-out level, if the trading benefit is withdrawn for any reason pursuant
to the applicable terms and conditions of the Trading Benefit Scheme. The Company ensures that
losses will not exceed the total available funds per Clients’ trading account(s) (negative balance
protection).
(c) The Company reserves the right, as it in its sole discretion deems fit, to alter, amend, suspend, cancel
or terminate the Trading Benefit Scheme, or any aspect of it, through any means of communication
at any time. Under no circumstances shall the Company be liable for any consequences of any
alteration, amendment, suspension, cancelation or termination of the Trading Benefit Scheme.
(d) Any indication or suspicion of fraud, manipulation, cash-back or bonus or swap arbitrage, or other
forms of deceitful or fraudulent activity in the Client’s account or multiple accounts with the Company
or otherwise related or connected to the Trading Benefit Scheme shall nullify any and all transactions
executed and/or profits or losses garnered therein.
(e) The Company reserves the right, at its sole discretion, to disqualify any individual from any Trading
Benefit Scheme if the Company suspects a misuse or attempt to misuse a Trading Benefit Scheme, or
breaches the present Agreement and/or any of the Company’s Business Terms and/or the terms and
conditions of the Trading Benefit Scheme and to nullify any and all transactions carried and cancel all
orders and annul and/or withdraw all profits of such Client. In these circumstances, the Company
shall not be liable for any consequences of the trading benefit cancelation.
(f) In the event of dispute, this shall be resolved in accordance to the Dispute Resolution procedure set
out herein. It is hereby acknowledged and accepted that the Client should also consult the Complaints
Handling Policy found on the Company’s website, as amended from time to time, vis-à-vis the
initiation of any dispute resolution.
(g) Notwithstanding the translated language of the terms and conditions of a Trading Benefit Scheme,
the English wording shall be the prevailing version in the event of any discrepancy between the two
languages.

32. SWAP FREE ACCOUNT

32.1. In the case where the Client opens a swap-free Trading Account(s), the Client acknowledges and
agrees to the following:
(a) If the Company suspects any fraud, manipulation, swap-arbitrage or other forms of deceitful or
fraudulent activity in a Client’s account(s) or otherwise related or connected to any and/or all
Transactions, then the Company reserves the right, at its sole discretion, to close all open positions in
the Client’s Trading Account and deduct or add a penalty (equivalent to the swap and/or any profit
amount) for all Transactions made in the account and decline from accepting any further requests
from the Client to be exempted from any swaps;
(b) The Client acknowledges and agrees to:

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 (i) trade only with instruments shown in the List; and
(ii) the swap free charge for all positions open as these may be defined and/or issued by the
Company from time to time (inclusive of the day of the position is opened and/or closed)
and as such charges and duration is provided within the Contract Specifications for swap
free accounts section on the Website.
(c) The Client acknowledges and accepts herein that, the Company reserves the right upon its sole
discretion, from time to time, and/or at any time to:
(i) amend the swap free charge; and/or
(ii) amend the Instruments provided by posting on the swap free accounts section, following
which such amendments/changes shall be effective on the date stated thereof; and/or
(iii) discontinue the swap free Trading Account without issuing further warning to the Client.
32.2. In the event that the Company determines, in its sole discretion, that an Order(s) submitted by the
Client is clearly erroneous, the Company reserves the right to disable the relevant account of the
Client to Close Only Mode. A ‘clearly erroneous order’ is defined as, but shall not be limited to, an
order at a price substantially different from, or inconsistent with, the prevailing market for any given
tradeable financial instrument on a trading day or, as applicable, outside the traded range for any
given tradeable financial instrument for a particular moment in time that may be in question.
32.3. If the Company disables the Client’s account to Close Only Mode, it means that the Client shall not be
permitted to open any new Transactions or increase exposure under existing Transactions, but the
Client shall be permitted to close, part close or reduce exposure under the existing Transactions.
32.4. The right of the Company to disable the account is subject to prior notification of the Client. The
Company shall give the Client either oral or a written (includes electronic) notice of its intention to
disable the account. The Client shall have three (3) working days from the date of notice to withhold
all clearly erroneous Orders. In the event that the Client has failed to do so, the Company shall disable
the account as stated above until any of the erroneous Orders is effective.
32.5. The Company shall not be liable for losses of the Client arising from or in connection with submission
of the clearly erroneous Order(s) and followed disability. The Client agrees to indemnify and hold the
Company harmless from all damages or liability as a result of the foregoing. Any dispute arising in this
regard shall be resolved by the Company in its sole and absolute discretion.

33. MARKET ABUSE

33.1. The Client shall not arrange or execute or place any Open Position, Trade and/or Order with the
Company or otherwise, nor will the Client behave in a manner that would amount to market abuse
and/or market manipulation and/or insider dealing (by the Client himself or acting jointly with
another person). In addition, the Client shall not arrange or execute or place an Open Position, Trade
and/or Order that contravenes any primary or secondary legislation or other law or regulatory rules
in relation to Market Abuse.

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33.2. In the event that the Client placed an Open Position, Trade and/or Order in breach of any of the
representations and warranties given above or if the Company has grounds for suspecting that the
Client has done so, the Company may in its absolute discretion (and with or without giving notice to
the Client), and without being under any obligation to inform the Client of its reason for doing so,
close that Open Position and/or Order and any other Open Position and/or Orders that the Client may
have open at that time, and also in the Company’s absolute discretion:
(a) enforce the Open Position or Trade against the Client if it is an Open Position or Trade under which
the Client had made losses; and
(b) treat all of the Clients’ Open Positions and Trades under this paragraph as immediately void even if
they are Open Positions or Trades under which the Client has made profits.
Unless and until the Client produces conclusive evidence that in fact they have not committed the
breach of warranty and/or misrepresentation as referred to above, within the period of one month
from the date of closure under this paragraph, all such Trades between the Company and the Client
(under which the Client has made profits) will be finally null and void.
33.3. The Company can exercise the above rights regardless of the effect it may have on the Client’s other
Open Positions or Orders, or other positions the Client may have with a third party and even if a loss
arises as a result.
33.4. The Company is not required to give advance notice to the Client of the exercise of its rights as above,
but the Company will inform the Client as soon as practicable that it has exercised such rights.

34. CONFIRMATIONS
34.1. Information on Order(s) status, Client Account status, Trade Confirmations and messaging facility
between the Parties will be sent to the Client either in electronic form by e-mail to the email address
which the Company will have on record and/or provided via its internal mail system of the Company
Online Trading System.
34.2. The Client is obliged to provide the Company with e-mail address for the purposes of this Clause. It is
the Client’s responsibility to inform the Company of any change to his email address (or any other
relevant personal information), the non-receipt of a Confirmation, or whether any Confirmations are
incorrect before settlement.
34.3. The Company will send to the Client, a Trade Confirmation in respect of each executed Order. Trade
Confirmations will be sent prior to the close of the back office on the Business Day following the day
on which the Order is executed or if the confirmation is received from a third party, no later than the
first business day following receipt of the confirmation.
34.4. If the Client has a reason to believe that the Confirmation is inconsistent or if the Client does not
receive any Confirmation (though the Transaction was made), the Client shall contact the Company.
Trade confirmations shall, in the absence of manifest error, be deemed conclusive unless the Client

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 notifies the Company in writing to the contrary within two (2) Business Days following the Day of
receipt of the said Trade Confirmation.
34.5. If the Company holds Client money and/or Client Financial Instruments, it shall send to him/her at
least once every year a statement of those Client money and/or Client Financial Instruments unless
such a statement has been provided in any other periodic statements.
34.6. The Company will provide the Client with an online access to his Client Account via the Company
Online Trading System, which will provide him with sufficient information in order to manage his
Client Account and comply with the Financial Services Commission (the “FSC”) Rules in regard to client
reporting requirements, therefore the Company may not be providing the Client with separate annual
statements.

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 APPENDIX A: Interpretation of terms

I. In this Agreement, the words shall have the following meaning:

“Abnormal Market Conditions” shall mean conditions contrary to Normal Markets Conditions, e.g.,
when there is low liquidity in the market, or rapid price movements in the market, or Price Gaps.
“Access Data” shall mean the Client’s access codes, any login code, password(s), his/her Trading
Account number and any information required to make Orders with the Company.
“Affiliate” shall mean in relation to the Company, any entity controlled directly or indirectly by the
Company, any entity that controls directly or indirectly the Company, or any entity directly or indirectly
under common control with the Company. For this purpose, “control” means ownership of a majority
of the voting power of the Company or entity.
“Agent” shall mean an entity appointed to act solely on the appointing party’s behalf to deal with the
other party in relation to all or part of the actions under the relevant provision.
"Agreed Process" means any process agreed between the parties in respect of a Dispute other than
the Procedure for Dispute Resolution, as may be amended between the parties.
“Applicable Rate” means:
(a) Federal Funds rate, if the Currency of the Trading Account is USD;
(b) Key European Central Bank (repo) Interest Rate, if the Currency of the Trading Account is EUR.
“Application to Open a Personal/Corporate Margin Trading Account” Form” shall mean the
“Application to open a personal/corporate Margin Trading account” form completed by the Client and
accessed through the Website.
“Ask” shall mean the higher price in the Quote being the price at which the Client may buy.
“Balance” shall mean the total financial result of all Completed Transactions and
depositing/withdrawal operations on the Trading Account.
“Base Currency” shall mean the first currency in the Currency Pair against which the Client buys or sells
the Quote Currency.
“Bid” shall mean the lower price in the Quote being the price at which the Client may sell.
“Business Day” shall mean any day between Monday and Friday, inclusive, other than the 25th of
December, or the 1st of January or any other holiday to be announced by the Company on its Website.
“Business Hours” shall mean 8:00 a.m. to 5:00 p.m. (GMT+2) on a Business Day (Monday to Friday).
"CFD" shall mean Contract for Differences.
“Charges” shall mean any fees, account costs, transaction or other charges including custody and
settlement fees.

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37
“Client Terminal” shall mean the MetaTrader program version 4 and/or 5, which is used by the Client
in order to obtain information of financial markets (which content is defined by the Company) in real-
time, to make technical analysis of the markets, make Transactions, place/modify/delete Orders, as
well as to receive notices from the Company. The program can be downloaded on the Website free of
charge.
“Company” shall mean Exinity Limited (www.alpari.org), an Investment Company regulated by the
Financial Services Commission, Mauritius (the “FSC”) as an Investment Dealer (Full-Service Dealer,
excluding Underwriting, License № C113012295) pursuant to Section 29 of the Securities Act 2005. The
Company operates under “ALPARI” brand and “ALPARI INTERNATIONAL” business name.
“Completed Transaction” shall mean two counter deals of the same size in different directions
(opening a position and closing the position): buying and then selling or selling and then buying.
“Contract Specifications” shall mean principal trading terms (Spread, Lot Size, Initial Margin, Hedged
Margin etc.) for each Instrument, displayed on the Company’s Website www.alpari.org
“CRS” shall mean the Common Reporting Standard.
“Currency of the Trading Account” shall mean the currency that the Client chooses when opening the
Trading Account.
“Currency Pair” shall mean the object of a Transaction based on the change in the value of one currency
against the other.
“Client Information” shall mean any information or documentation that the Company receives from
the Client or otherwise obtains which relates to him/her, his/her Account or the provision or the use
of the Services.
“Data Delivery Date” means each date agreed as such between the parties provided that, in the
absence of such agreement, the Data Delivery Date will be the Joint Business Day immediately prior to
the PR Due Date.
“Dispute” shall mean either:
(a) the conflict situation 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 Operative Agreements; or
(b) the conflict situation when the Company reasonably believes that the Client as a result of any
action or failure to act breaches one or more terms of the Operative Agreements; or
(c) the conflict situation when the Client makes a deal at an Error Quote (Spike), or before the first
Quote comes to the Trading Platform on the Market Opening, or at the Quote received by the
Client because a Dealer made a Manifest Error or because of a software failure of the Trading
Platform.
(d) any dispute between the parties (i) which, in the sole opinion of the party delivering the relevant
Dispute Notice, is required to be subject to the Dispute Resolution Procedure (or other Agreed
Process) pursuant to the Dispute Resolution Risk Mitigation Techniques; and (ii) in respect of
which a Dispute Notice has been effectively delivered.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

38
"Dispute Date" means, with respect to a Dispute, the date on which a Dispute Notice is effectively
delivered by one party to the other party save that if, with respect to a Dispute, both parties deliver a
Dispute Notice, the date on which the first in time of such notices is effectively delivered will be the
Dispute Date. Each Dispute Notice will be effectively delivered if delivered in the manner agreed
between the parties for the giving of notices in respect of this Agreement.
“Dormant and/or Inactive Account” shall mean any Company Client trading account where the
Client/account holder/owner of that trading account has not initiated any trading activity and/or
inactivity for a period of six (6) consecutive months and/or where the Company has not carried out any
transactions in relation to the trading account by and/or on the instructions of the Client/account
holder/owner and/or his/her authorized representative for a period of six (6) consecutive months.
“Dormant and/or Inactive Account Fee” shall mean a handling fee of $5/€5/£5/₦5 or equivalent per
month imposed by the Company and/or paid by a Client for his/her dormant account(s) held by the
Company, as this may be amended from time to time by the Company.
“Equity” shall mean: Balance + Floating Profit - Floating Loss.
"Error Quotes" are rates received which are transmitted to the Client’s Terminal due to a system
technical error.
“Error Quote (Spike)” shall mean an Error Quote with the following characteristics:
(a) a significant Price Gap; and
(b) in a short period of time the price rebounds with a Price Gap; and
(c) before it appears there have been no rapid price movements; and
(d) before and immediately after it appears that no important macroeconomic indicators and/or
corporate reports are released; and
(e) a significant variance from the market pricing.
The Company has the right to delete Error Quotes (Spikes) from the Server’s Quotes Base.
“Event of Default” shall have the meaning given in Clause 24 herein.
“FATCA” shall mean the Foreign Account Tax Compliance Act.
“Floating Profit/Loss” shall mean current profit/loss on Open Positions calculated at the current
Quotes.
“Force Majeure Event” shall have the meaning as set out in Clause 26 herein.
“Free Margin” shall mean funds on the Trading Account, which may be used to open a position. It is
calculated as Equity Less Necessary Margin.
“Hedged Margin” shall mean the margin required by the Company sufficient to open and maintain
Matched Positions. The details for each Instrument are in the Contract Specifications.
“Indicative Quote” shall mean a Quote at which the Company has the right not to accept any
Instructions or execute any Orders.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

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39
“Initial Margin” shall mean the margin required by the Company to open a position. The details for
each Instrument are in the Contract Specifications.
“Instruction” shall mean an instruction from the Client to the Company to open/close a position or to
place/modify/delete an Order.
“Instrument” shall mean any Currency Pair, Precious Metal, Stock CFD, Energy.
“Illicit Profit” shall mean profit which has been generated as a result of an Event of Default and/or
during Abnormal Market Conditions.
"Joint Business Day" means a day that is a Local Business Day in respect of each party.
"Key Terms" means, with respect to a Relevant Transaction and a party, the valuation of such Relevant
Transaction and such other details the relevant party deems relevant from time to time which may
include the effective date, the scheduled maturity date, any payment or settlement dates, the notional
value of the contract and currency of the Relevant Transaction, the underlying instrument, the position
of the counterparties, the business day convention and any relevant fixed or floating rates of the
Relevant Transaction. For the avoidance of doubt, "Key Terms" does not include details of the
calculations or methodologies underlying any term.
“Leverage” shall mean, 1:20, 1:25, 1:40, 1:50, 1:100, 1:200, 1:500, 1:1000, 1:2000 ratio in respect of
Transaction Size and Initial Margin. 1:100 ratio means that in order to open a position the Initial Margin
is one hundred times less than Transaction Size.
“Long Position” shall mean a buy position that appreciates in value if market prices increase. In respect
of Currency Pairs: buying the Base Currency against the Quote Currency.
“Lot” shall mean a unit of Securities Base Currency or troy oz. of Precious Metal in the Trading Platform.
“Lot Size” shall mean the number of shares, underlying assets or units of Base Currency, or troy oz. of
Precious Metal in one Lot defined in the Contract Specifications.
“Margin” shall mean the necessary guarantee funds to maintain Open Positions, as determined in the
Contract Specifications for each Instrument.
“Margin Level” shall mean the percentage Equity to Necessary Margin ratio. It is calculated as (Equity
/ Necessary Margin) * 100%.
“Margin Trading” shall mean Leverage trading when the Client may make Transactions having far less
funds on the Trading Account in comparison with the Transaction Size.
“Market Abuse” shall mean any unscrupulous behavior addressed to the Market Abuse Law of 2016
(Law 102(I)/2016) and as amended, supplemented and/or replaced from time to time.
“Matched Positions” shall mean Long and Short Positions of the same Transaction Size opened on the
Trading Account for the same Instrument.
“Manifest Error” shall mean an error of a Dealer who opens/closes a position or executes an Order at
the price which significantly differs from the price for this Instrument in the Quotes Flow at the moment
of taking this action, or any other Dealer’s action in regard to the prices which are significantly different
from the market prices.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

40
“MyALPARI” shall mean the Client’s official private and personal space and gateway to all the services
offered by the Company including but not limited to any trading and/or non-trading activity.
“Necessary Margin” shall mean the margin required by the Company to maintain Open Positions. The
details for each Instrument are specified in the Contract Specifications.
“Normal Market Conditions” shall mean the market where there are no:
- considerable breaks in the Quotes Flow in the Trading Platform; and
- fast price movements; and
- large Price Gap.
“Open Position” shall mean a Long Position or a Short Position which is not a Completed Transaction.
“Operative Agreements” shall mean this Client Agreement together with and all account Client
Agreements, Policies and Terms of Business, as these may be found in the Policies and Regulation
section of the Website. The Client acknowledges that the Operative Agreements may be amended by
the Company from time to time and the last version shall be available by accessing the website
www.alpari.org
“Order” shall mean an instruction from the Client to the Company to open or close a position when the
price reaches the Order Level.
“Order Level” shall mean the price indicated in the Order.
“Precious Metal” shall mean spot gold or spot silver.
“Price Gap” shall mean the following:
(a) the current Quote Bid is higher than the Ask of the previous Quote; or
(b) the current Quote Ask is lower than the Bid of the previous Quote.
“Politically Exposed Person” or “PEP” shall mean someone who currently or in the last 12 months
belonged to a political entity or governmental body; this extends to the immediate family members
and close associates of such a person.
“Quote” shall mean the information of the current price for a specific Instrument, in the form of the
Bid and Ask prices.
“Quote Currency” shall mean the second currency in the Currency Pair which can be bought or sold by
the Client for the Base Currency.
“Quotes Base” shall mean Quotes Flow information stored on the Server.
For example, if the Client has a Long Position of 2.0 Lots and a Short Position of 3.0 Lots in the same
Instrument, then the Long Position and 2.0 Lots of the Short Position are considered as Matched
Positions and 1.0 Lot of the Short Position is not a Matched Position.
“Quotes Flow” shall mean the stream of Quotes in the Trading Platform for each Instrument.
“Rate” shall mean the following:

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

41
(a) for the Currency Pair: the value of the Base Currency in the terms of the Quote Currency; or
(b) for the Precious Metal: the price of one troy oz. worth of the Precious Metal against the US dollar
or any other currency specified in the Contract Specifications for this instrument.
“Relevant Amount(s)” shall mean any free Equity in the Client’s Trading Account not used for margin
purposes.
“Request” shall mean a request from the Client to the Company given to obtain a Quote. Such a Request
shall not constitute an obligation to make a Transaction.
"Relevant Transaction" means any Transaction which is subject to the Portfolio Reconciliation Risk
Mitigation Techniques and/or the Dispute Resolution Risk Mitigation Techniques.
“Rollover/Interest Policy Webpage” shall mean as set out in the “contract specification” page on the
Company’s website.
“Server” shall mean the MetaTrader Server program, version 4 and/or 5. The program is used to
execute the Client’s Instructions or Requests, to provide trading information in real-time mode (the
content is defined by the Company), in consideration of the mutual liabilities between the Client and
the Company, subject to the Terms of the Operative Agreements.
“Services” shall mean the services provided by the Company to the Client as set out in Clause 5 herein.
“Short Position” shall mean a sell position that appreciates in value if market prices fall. In respect of
Currency Pairs: selling the Base Currency against the Quote Currency.
“Spread” shall mean the difference between Ask and Bid.
"Third party service provider" refers to an entity that the parties agree will perform all or part of the
actions under the relevant provision for both parties.
“Trading Account” shall mean the unique personified registration system of all Completed
Transactions, Open Positions, Orders and deposit/withdrawal transactions in the Trading Platform.
“Trading Account History” shall mean any of and/or all Client’s trading and/or non-trading activity
including but not limited to deposits, withdrawals, credits and/or any other services offered by the
Company within a Client’s account(s) with the Company, whether these derive from and/or on
MetaTrader 4 and MetaTrader 5 Platforms and as these may from time to time in part of or all be
transferred, and/or further archived, and/or shrunk, and/or compressed, however fully accessible at
any time by the Client from and/or on his/her MyALPARI private and personal space.
“Trading Benefits Scheme” shall have the meaning given in Clause 31.1 herein.
“Trading Platform” shall mean all programs and technical facilities which provide real-time Quotes and
allow Transactions to be made, Orders to be placed/modified/deleted/executed and calculate all
mutual obligations between the Client and the Company. The trading platform consists of the Server
and the Client Terminal including, but not limited to MetaTrader 4 and MetaTrader 5 Platforms.
“Transaction” shall mean any contract or transaction entered into or executed by the Client or on
behalf of the Client arising under this Agreement and the Terms of Business.
“Transaction Size” shall mean Lot Size multiplied by number of Lots.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

42
“Website” shall mean the Company’s website at www.alpari.org or such other website as the Company
may maintain from time to time for access by Clients.
“Written Notice” shall have the meaning set out in Clause 18 herein.

II. All references to a statutory provision include references to:

(a) any statutory modification, consolidation or reenactment of it, whether before or after the
date of these Operative Agreements, for the time being in force;
(b) all statutory instruments or orders made pursuant to it; and
(c) any statutory provision of which that statutory provision is a re‐enactment or modification.
III.Words denoting the singular include the plural and vice versa; words denoting any gender include
all genders; and words denoting persons include corporations, partnerships, other
unincorporated bodies and all other legal entities and vice versa.
IV. Unless otherwise stated, a reference to a clause, party or a schedule is a reference to a clause in
or a party or schedule to this Agreement respectively.
V. The clause headings are inserted for ease of reference only and do not affect the construction of
the terms of this Agreement.
VI. Any words whose meaning is not defined in this Client Agreement, shall have the meaning
provided in the Terms of Business.

Exinity Limited (www.alpari.org) is licensed by the Financial Services Commission, Mauritius

as an Investment Dealer under License number C113012295

43