DEFINITIONS AND INTERPRETATIONS
In this website the following words shall have the corresponding meanings:
- Access Codes : Your login and password given use in order to gain access to our Online Trading System or Website (where applicable).
- Access Data : Your Access Codes, your Account number and any information required to place trading Orders
- Account : Any transaction account which we may open for you on our records to allow you to trade in Financial Instruments as defined below.
- Applicable Regulations :
(a) the rules of the relevant market; and
(b) all other applicable laws, rules and regulations as in force from time to time in any jurisdiction.
- Application Form : The application form completed by you to apply for our Services (via which we will obtain amongst other things necessary information for your identification and due diligence and your risk profile categorization in accordance with relevant bylaws).
- Balance : The total sum on your Account after the last transaction made within any period of time.
- Base currency : The first currency in any specified currency pair.
- Bonus Terms : The conditions as advertised in marketing campaigns from time to time that have to be fulfilled in order to receive the bonus incentive and in accordance with Section 8 of the standard Customer Agreement to qualify for a payout of such incentive.
- Business Day : Any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January.
- CFDs : A spot and/or forward Contract for Difference on the following underlying: Currencies (Spot FOREX), Metals, Commodities, Futures, Options, Forwards, Stocks, Indices, Crypto Currencies.
- Customer Agreement : This Agreement between us and you which also includes the following documents to be found on our Website :
(a) Costs and Fees,
(b) Contract Specifications,
(c) General Risk Disclosure.
- Client Money Rules : The rules relating to Client money management as set out by our Regulator.
- Contract Specifications : Each lot size or each type of Underlying in a Financial Instrument offered by us as well as all necessary trading information concerning spreads, swaps, margin requirements etc, as determined by us from time to time in our Website.
- Currency of the Account : The currency that you choose when opening an Account with us or converted into at your choice after the opening the Account.
- Currency Pair : Consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.
- Liquidity Providers : The Company shall act as agent of the Client (principal) when receiving and transmitting orders. The Company will be transmitting your Orders for execution to other broker(s), and such broker(s) may be transmitting the orders received by us to other liquidity providers. These broker(s) are not necessarily operating in a regulated market.
- Leverage : A ratio in respect of Transaction size and initial margin. 100x ratio means that in order to open a position, the initial margin sum required is one hundred times less than the notional Transaction size.
- Margin : The necessary guarantee funds to open positions or to maintain open positions, as determined in the Contract Specifications for each Underlying in a Financial Instrument.
- NDFs :Non-Deliverable Forwards, which has the same meaning as CFDs.
- Nominee : Any company as we may appoint as our Nominee from time to time, which is a member of our group whose principal function is to hold funds acquired by our Clients.
- Online Trading System :Any software used by us which includes the aggregate of our computer devices, software, databases, telecommunication hardware, a trading platform, making it possible for you to obtain information of markets in real time, make technical analysis on the markets, enter into Transactions, place/modify/delete Orders, receive notices from us and keep record of Transactions.
- Open Position : A deal of purchase/sale not covered by the opposite sale/ purchase of the contract.
- Order : An instruction by you to us in Financial Instruments available for Transactions on our Trading Platform.
- Parties :The parties to this Customer Agreement - you and us.
- Pending order :Order for buy or sell a Financial Instrument at the price difference from the market price.
- Quote : information of the currency price for a specific Underlying of a Financial Instrument, in the form of the bid and ask prices.
- Quote Currency : The second currency in the currency pair.
- Rolling Spot : Has the same meaning as CFDs.
- Rules : Laws, articles, regulations, directives, procedures and customs as in force from time to time.
- Scalping :: Refers to the opening and closing of a position within seconds. We have a one minute minimum time interval between opening and closing trades.
- Services : The services provided by us Customer Agreement as specified in Section 3 of the Customer Agreement.
- Slippage : This term refers to the difference between the expected price and the price at which the trade is actually executed.
- Spread :The difference between the ask and the bid prices of an Underlying in a Financial Instrument at that same moment.
- Stop Loss : means an offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is lower than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is higher than the opening transaction price.
- Stop Out : Situation when we execute the right to close all your open positions at current market price or the last available price and your equity divided by balance falls below the stop out level specified for your account type.
- Swap or Rollover : The interest added or deducted for holding a position open overnight.
- Swap Rates : The rate of the fixed portion of a swap, at which the swap will occur for one of the parties entering into a Financial Instrument.
- Take Profit : means an offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is higher than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is lower than the opening transaction price.
- Trade Confirmation : A message from us to you confirming the transmission for execution of your Order.
- Transaction : Any dealing in a Financial Instrument conducted through UGAM.
- Underlying : Forward and/or futures contracts on Currencies (Spot FOREX), Metal, Commodities, Futures, Options, Forwards, Stocks, Indices, Crypto Currencies.
- We (our, us): UGAM is a globally operating brand and includes any of our affiliated companies
- Website : www.unitedglobalasset.com or any other Website of the Company’s trade names, as we may from time to time update and notify you.
- You : The Client(s) who is (are) the holder(s) of the Account.
- Your Information : Any information that we receive from you or otherwise obtain which relates to you, your Account or our provision or your use of the Services.