1.Risk Warning 风险警告
1.1Foreign Exchange and Contracts for Difference with EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD(hereafter referred as “WFD”) are both margin traded products. Therefore they inherently carry a high level of risk compared to other investments, and as such you could rapidly lose more than your initial deposit. They are all legally enforceable under the Financial Services and Markets Act 2000.
EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD（以下简称“WFD”）提供的外汇和差价合约都是属于保证金交易。所以相对于其他的投资方式，该产品具有高风险并且可能会导致您的损失超过您的初始投资金额。所有条款均依据《2000年金融服务和市场法》实施执行。
1.2Margined trades are trades on the price movement of a product. They settle based on the difference between the opening price and the closing price of the trade.
1.3You should not trade any margined product unless you fully understand all the risks involved with doing so and that you have sufficient resources available to you that in the event, however unlikely you may deem it to be, that there is an adverse movement in the price of that product that you can meet the financial obligations required by you with respect to margin payments and losses.
1.4Margin trading is leveraged trading that allows“gearing” which means that you can place a large trade by only putting up a small amount of money as margin. If the price moves in your favour you can greatly increase your profits. However even a small movement in price against you can lead to substantial losses and you may be required to deposit additional margin with us immediately to keep these trades open. You are liable for this and for any losses that may occur if your positions are closed. The potential losses, or profits, for margin traded products are, or could be, unlimited and this should always be considered by you when making trading decisions.
1.5Not all trades can be opened or closed 24 hours a day. Many are subject to strict opening and closing times which can fluctuate. These are posted on our Market Information Sheets (MIS) which are available online and which we endeavour to keep up to date, without any obligation or liability on us to do so, or for its accuracy. For example national holidays and Daylight savings changes will affect the times when you can trade. Also a market may be suspended for a variety of reasons and during this time you will not usually be able to trade.
并非所有的商品都可以进行24小时交易，很多商品都有严格的开市和休市时间，并且可能有变化。这些交易时间我们会公布在市场信息表（Market Information Sheet, MIS）中，我们会尽可能及时更新，但对于它的准确性并不承担任何责任和义务。例如，国家假期和冬夏令时变更会影响您的交易时间。某一市场可能因多种原因休市，在此时间段，您通常不能进行交易。
1.6You are placing trades on the prices we provided..Depending on the market, our prices will usually be based on an exchange price but can fluctuate away from the underlying prices due to a variety of reasons. All open trades can only be closed and settled with us.
1.7WFD will hold unutilised retail customer funds in a segregated bank account. We reserve the right to utilise some or all of those funds up to the level that the client is using to fund open positions. However even in a segregated account you may not be afforded complete protection. All individual client funds are subject to the rules of the Vanuatu Financial Services Commission (VFSC).
WFD为零售客户提供独立资金账户。当客户把资金用作开仓，WFD保留动用部分或者全部该笔资金的权利。然而，即使是独立资金账户也不能提供绝对保障。所有客户资金均受到瓦努阿图金融服务委员会（VFSC, Vanuatu Financial Services Commission）监管。
1.8If you are in any doubt whatsoever about any aspect of the risks involved in FX or CFDs then we recommend that you seek independent professional help or advice before continuing.
1.9If you are considering trading in shares in a company that you work for then you should seek legal advice beforehand to ascertain that you are not in breach of any regulations.
1.10Margin trading is not necessarily designed to replace existing or traditional methods of investing and is therefore not suited to everyone.
2. Introduction 介绍
2.1WFD (“us”, “we”, “our”, “ours”, “ourselves”) is the trading name of EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD , which is authorised and regulated by the VFSC.
EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD (下称“我们”) 是WFD的名字，经瓦努阿图金融服务委员会（VFSC, Vanuatu Financial Services Commission）授权并监管。
2.2These Client Agreement cover both Foreign Exchange (FX) and Contracts for Difference (CFD). You agree to be bound by those areas of this agreement that are pertinent to the types of accounts held by you, and the types of trades executed with ourselves.
此客户协议包括外汇 (FX) 与差价合约 (CFD)。您同意遵守此协议的内容是适用于您与我们持有的账户类型和交易。
2.3These Client Agreement set out the agreement between us and the client or customer (“you”, “yours”) and should be read carefully together with any amendments and addendums.
2.4These Client Agreement do not in any way affect your statutory rights and do not restrict the liability owed by us to you under the Financial Services and Markets Act 2000 or any other regulations imposed on us by the VFSC.
2.5If any part of this agreement is deemed to be invalid or unenforceable then the rest of this agreement will still be enforceable.
2.6 These Client Agreement will be deemed to be the most recent and applicable and will come into effect when we open an account or accounts for you, or when we notify you of these new Client Agreement taking effect from a previous version.
2.7They will apply to all new and existing trades taken out, and where possible we will give you at least 10 working days” notice of any major changes taking effect. This may be in writing, email, notification on the website or through any other means deemed appropriate by WFD.
2.8This may not include margin requirements or spreads which can change rapidly due to market developments. Also certain markets may become suspended or we may cease trading some markets for which we will not be held accountable or liable.
2.9The words“trading” and“trade” are used interchangeably in these Client Agreement .
2.10Upon your acceptance of these Client Agreement and our acceptance of you as a client you warrant to WFD that every trade you transact with us you do so directly with us in accordance with these Client Agreement .
2.11As a client of WFD you also undertake only to trade or if:
2.11.1You are not contravening any legislation in the country from where you are at the time.
2.11.2You are over the age of 18 years old.
2.11.3You are not bankrupt or going through bankruptcy proceedings or subject to any legal regulations that may prevent you from adhering to these Client Agreement .
2.11.4Your personal details held with us are up to date
2.11.5Where you are employed by a regulated firm you have sought permission from your compliance officer and you authorise us to provide your compliance department with copies of your personal account dealings. If you do trade while contravening one of the above then you will still be held accountable and liable for all trades and their corresponding profits or losses.
3.1While Foreign Exchange is traded globally, CFDs are not. Certain countries do not allow their use and it is the responsibility of the individual to make sure that they comply with any local laws that are applicable to them, both in terms of actually holding an account and the relevant applicable tax laws.
3.2Any prices or quotes that we may show in advertisements, promotions, on television or on our website are purely for indication only. Only prices on our Internet Trading Platform are available to trade on, subject to the other terms of this document.
3.3You accept that wherever possible we will communicate with you via electronic means such as email. In addition to this, if you are legally required to accept anything where normally a signature would be required .
3.4You will at all times take reasonable measures to ensure that you pass no computer viruses or such like onto our system network.
3.5We have the right to assign the legal benefit and responsibilities of this agreement, at our absolute discretion, having given prior notice to you of at least 15 working days.
4. Definition 定义
4.1WFD = EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD
WFD =EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD
4.2SL = Stop Loss.
4.3Bid = The price which you can sell at.
4.4Offer = The price which you can buy at.
4.5TP = Take Profit.
4.6Limit Order = An order to buy below the current price or to sell above the current price.
4.7FX = Foreign Exchange.
4.8ITP = Internet Trading Platform.
4.9CFD = Contract for Difference.
4.10NTR = Notional Trading Requirement.
4.11VFSC=Vanuatu Financial Services Commission
4.12MIS = Market Information Sheets.
4.13P+L = Profit and/or loss.
4.14Tic / Pip / Point = The minimum increment movement of the price which you are trading on which are shown onthe MIS.
4.15Spread = The difference between the bid and offer.
4.16Slippage = The difference between an order level and the execution level.
4.17Gapping = When the price of a market jumps.
4.18Margin Call = When you are running low of funds in your account and are requested for more funds to stop your position from being closed out. (Where your cash balance does not cover your notional trading requirement and open position profit and loss).
4.19Grey Market = A market that is still tradable with us although the underlying or actual market may be closed.
4.20Business Day = Working day, not including weekends and some public holidays.
4.21Long = Placing a trade where you profit from the relevant market from going up. Also known as“buying“or“buy”.
4.22Short = Placing a trade where you profit from the relevant market from going down. Also known as“selling“or“sell”.
5. Law and Jurisdiction 法律和司法权
5.1These Client Agreement apply to all trades or orders of any type carried out with us, and are governed by the laws of Vanuatu.
5.2In the event of a default by you, WFD and all of its subsidiaries, reserves the right to bring proceedings against you in any other court in any other jurisdiction permitted by law if it is deemed appropriate by us to do so regardless of where you were domiciled when the account was opened, or when the trade was executed.
5.3You will be classified as a Retail Customer, unless you have agreed with WFD in writing to the contrary.
5.4You may request at any time, or we may at our discretion request you, to be reclassified as a Professional Client or Eligible Counterparty.
5.5You are, or have recently been, employed in a job that requires knowledge of the markets you will be trading.
5.6In the event of your death, and upon receipt of proof, we will close all your open trades immediately, or as soon as practically possible. Your estate will then be the beneficiary from any funds held or liable for any losses or sums owed.
5.7You will be liable for and fully indemnify WFD for all costs, damages and other legal expenses that we may incur as a result of you breaching these Client Agreement , or any other negligent act by you.
5.8If these Client Agreement have been translated into any other language, then it is these original Client Agreement ,written in English, which are deemed to be legally binding.
6. Demo Accounts 模拟账户
6.1Entry to the demonstration (demo) platform will be disabled after 30 days.
模拟账户只有 30 天的有效使用期。
6.2With the WFD demo or virtual account, you are not trading with real money. Any money you make or lose is fictitious and cannot be transferred to a real account, cashed in or redeemed in any way. The demo account is purely for practice and for demonstration purposes only, and contains a small selection of the markets that we offer.
6.3Profits or losses incurred while trading in a demo environment do not necessarily reflect what you may achieve when trading in a live environment. FX and CFDs are volatile instruments and it is possible to rapidly make or lose more than your initial deposit.
7. Accounts 账户
7.1WFD may refuse your application to open an account for any reason and is under no obligation to provide any reasons for doing so.
7.2WFD may at its discretion disclose your personal information to a credit reference
7.3You have one agreement between WFD and you which covers all accounts you may hold with us even if they are in different asset classes (ie FX or CFDs). This agreement covers all trades, open or closed, orders and any other transactions.
7.4In the event that we exercise our rights under this agreement to close all, or some, of your positions and cancel any pending orders and /or to close your account(s) we have the absolute right to consolidate the cash balances held in any of the accounts you hold with WFD or any of its affiliates.
7.5We may also, at our discretion, net off your positive account cash balances against negative account cash balances,and your profits from any open trades in an account against losses on open positions in another account. We may also offset any funds against any other liabilities owed by you including, but not limited to, legal costs and interest.
7.6In the event that monies held are in different currencies we will convert these to one universal currency at the prevailing market rate, leaving one amount either payable by us to you or by you to us.
7.7You accept these Client Agreement , and any amendments or additions, for all accounts that you hold with us, or our associates, whether they are main accounts or sub accounts and no matter what areas of business they cover.
8. Account Size 账户大小
8.1We reserve the right to impose a maximum account size that we are willing to allow clients to hold with us. This may be set the same for each of the account types (FX or CFDs) or differently. You may hold more funds in your account than the account limit, but you will not be permitted to utilise those funds that are in excess of the account limit for the purpose of trading.
8.2You may be notified of the account size on acceptance of your application for an account, and we reserve the right to change this amount at any time with no prior notice.
8.3We will set this limit in US dollars, Euros or Sterling and this will be applied to whatever base currency that your account held.
8.4If for any reason your open positions exceed the size that your account size permits due to an error or other reason,we reserve the right, without the obligation, to bring your account back to within its limit by closing some or all of your open positions.
8.5Regardless of the maximum account size placed on your account, customers can lose or make substantially more than that amount.
9. Password 密码
9.1It is imperative that you keep your password secure and confidential and under no circumstances should you divulge it to anybody. No one at WFD will ever ask you your password.
9.2If you have chosen your password then it is your responsibility to ensure that it is unique, secure and unlikely to be guessed by anyone.
9.3If you think the security of your password has been compromised, then you must inform us immediately. WFD accepts no liability for any unauthorized use of your account.
9.4It is also important that you keep your user name / account number secure as this is used as part of our identification process.
10. Communications and Contact Detail 通讯和联系信息
10.1You undertake that you will provide us with current and up to date contact details when opening your account and keep us up to date with any changes to these details. These should include telephone numbers where you can be reached during the entire day and your current address.
10.2You also undertake to provide us with notification of any temporary change in these details for example, if you go away on holiday, in case we need to contact you for a margin call (see section on Margin).
10.3If for any reason you are not going to be contactable then it is your sole responsibility to make sure you have excess funds in your account and that you have put in place procedures that will enable your account to remain in good order. If you are in any doubt about your ability to achieve this then you should close all open positions or orders.
10.4Any trades on your account must be made by you and not by a third party, unless you have given specific authorization for someone else to trade on your account via a power of attorney or trading authorization, or you have activated a trading robot. If you have facilitated someone other than you trading on your account without prior written agreement with us then you are still liable for all trades carried out on this account.
10.5All trades and orders of any description must be placed via the ITP(MT5) .Under no circumstances will we accept trades or orders via email, fax or mail or SMS text message unless you have received prior permission from WFD.
任何类型的交易和订单必须通过ITP（MT5）开出。在任何情况下都不会通过电邮、传真或 SMS 短讯接受交易或订单，除非您事先收到了WFD的允许。
10.6We will use your name, account number and other personal data to identify you when you trade or leave an order via the ITP(MT5) . If you suspect that the security of your account number and or password has been breached then it is your responsibility to notify us immediately.
10.7If we agree, in an extreme circumstance, to accept a trade or order in a different way to those expressed above then we will not be held liable for any losses incurred as a result of an error, delay or omission.
10.8If you discover an error on your account then must notify us immediately or in any event within three business days. This covers both incorrect and missing trades.
10.9We have the right to communicate with you via telephone, email or writing at any time to discuss or communicate any aspect of your account or our business whether relevant to you directly or not at that time.
11. Commissions/Charges/Tax 佣金 / 收费 / 税务
11.1WFD do not charge any commission on any trades. It makes money from the spread, which is the difference between its bid price and the offer price.
11.2It is your sole responsibility to assess and pay any tax liability that may occur from the results of any trades carried out by you. If you are unclear in any way about this then you should seek independent tax advice from someone authorized to do so from your tax jurisdiction. (You should seek advice from your accountant, the tax office or other relevant experts).
11.3We reserve the right to pass on any costs or charges that may arise in the future, (for example a change in stamp duty payments in the event of a change in governing regulations or the law)
11.4We may pass on any increase in costs associated with going short on an equity (i.e. placing an opening sell trade) if our charges are increased by our brokers (i.e. margin or financing).
11.5We are not under any obligation to reveal any profit, interest or any other kind of remuneration made by us from any trade under any circumstances.
12. Deposits/Withdrawals/Balances 存款 / 提款 / 余额
12.1You can fund your WFD account at any time on line via our website. You can use a vast array of methods which are constantly expanding, details of which can be found online. In addition to this, you can make a bank transfer directly from your bank to ours, details of which can be found on our website. Unless WFD agrees otherwise, payments can only be made from the client”s own personal bank account.
12.2You can request a payment from your account at any time. These requests are processed daily by our accounts department. All monies returned will be paid back to the source from where they originated. In the event that we are unable to do this because this would breach deposit limits applied by that financial institution, then we will have to return the funds directly to your bank account. This will be done in line with our strict anti-money laundering procedures, and may include you having to provide additional identification and proof of the bank account belonging to you.
12.3We reserve the right to pay you interest on unutilised funds held in your account, and we will inform you if we intend to do this. This will be calculated daily and paid monthly in arrears. We may also impose a minimum unutilised account balance that this will be applicable to. (At present this is not the case as we do not receive interest on client deposits held in segregated accounts.)
12.4Once funds have been deposited into your account, you can place trades utilising these funds. If you want to place an additional trade but have insufficient margin to do this, you must deposit more funds into your account first.
12.5We will pass on any costs associated with taking deposits from you. These may be in the form of a percentage commission charged by the debit/credit card company.
12.6We will pass on any costs that may be associated with transferring money back to your bank, credit or debit card from your account when withdrawing money.
12.7At any time you may request all unutilised funds on your account to be repaid to you. If from the time of your request to the time that we process the request the value of any open positions has moved such that you no longer have the amount requested available then we will notify you accordingly. We also reserve the right to withhold any payment if we feel that it may be required to meet future short‐ term payments.
12.8In the unlikely event that you have a negative balance on your account, which may have arisen from a market gapping (see section on Negative Balances and Gapping) you are required to clear this immediately. This should be done by debit/credit card or any other equally instant method of payment.
12.9If a negative balance goes unpaid then after a period of 7 days, we reserve the right to take any action necessary to recover the debt and charge interest during this process.
如果负数余额在 7 天后未得到支付，我们将保留采取相关行动来填补债务以及收取利息的权利。
12.10All retail client funds deposited with WFD will be held in a segregated account in accordance with the VFSC’s rules. When you place an opening trade or bet on your account(s) you will be utilizing some or all of your deposit as initial margin. This margin will still be held in the segregated account.
12.11WFD will transfer funds to and from the segregated account which it requires to maintain your open positions in the form of daily profits or losses on open positions. During this period you will have no legal claim over these funds and in the unlikely event of the firm”s insolvency you will have no rights or claims to this money if they are being used to fund open positions.
12.12Under the VFSC‘s Client Money Rules, client funds held by us will no longer be deemed client money when that money becomes“owed”to us by the closing of a trade that results in a loss.
12.13WFD reserves the right to use part or all of a non-retail clients segregated funds if they are being used to fund an open trade or bet. These funds will at that time, from a legal standing, no longer be considered as client funds, will not be segregated and may be used by us in the course of our business.
12.14At no time will WFD accept or make a third party payment, unless, at its absolute discretion, it has agreed to do so in strict adherence to anti-money laundering regulations.
12.15 In the event of an account being left dormant or un‐utilised for a period of 5 years WFD may start proceedings in attempt to contact the registered owner of the account. In the event of the account holders death then an attempt will be made to contact their estate or heirs. All reasonable steps will be taken, where possible, to locate the legal title holder of the account, but if after a further period of 12 months no contact has been made then WFD may close the account and will no longer consider the funds held on that account as client funds.
13. Maximum/Minimum 最高 / 最低
13.1Every market we quote, whether in FX or CFDs has a minimum trade size and a maximum trade size. These are clearly shown in our Market Information Sheets, or can be found by contacting the Dealing Desk.
14. Margin 保证金
14.1When any trade is placed, an initial margin requirement must be met. This is a minimum deposit that must be made to fund that position. This is also known as the Notional Trading Requirement (NTR) and is required as a form of security in case the trade starts to lose money.
14.2These funds must be cleared funds, paid to us via a debit/ credit card. We do not accept cheques except under exceptional circumstances, and only with prior agreement with WFD.
14.3These NTRs vary immensely from product to product and can be viewed on the MIS.
14.4For example in FX it may be as low as 1 percent of the total actual value of the trade, up to 50 per cent for an equity trade as a CFD.
14.5The NTRs for all markets are published in our Market Information Sheets (MIS) on our web site.
14.6These can change according to how volatile the market conditions are at the time. If we do change an NTR and you have an open trade at the time, then we will endeavour to give you
one week”s notice of this change. However in exceptional circumstances we reserve the right to implement this change immediately, which may mean you are instantly put on a margin call or are over your account size. We will endeavour, if this situation arises, to be sympathetic with any problems that may occur.
14.7Although margin requirements are automated in our system, it is your responsibility at all times to know your positions and to monitor the state of your account, placing more funds into your account as and when is necessary. Any losses or additional losses that arise from the failure to close these positions will be your responsibility.
14.8Our MT5 platform will liquidate your positions when your equity, which is your cash plus your open profit/loss, falls below 100% of the total margin required of all your positions.
当您的净值，即现金资产与当前未平仓位的盈亏总和降至所有未平仓位所需总保证金要求的100%， MT5 平台将会对您的账户进行强制平仓。
14.9You will go onto margin call when your available funds fall below zero. This is when your cash balance plus your margin requirement plus your P+L is less than zero. It is your responsibility to monitor this, and you can help to manage this level with the use of stop loss orders (see section on Orders).
14.10We may issue you with a margin call. This will require you depositing cleared funds with us immediately. We do not accept any liability if you are or are not placed on Margin Call.
14.11We are entitled to request these funds to cover a margin call at any time, and you are obliged to pay cleared funds immediately to cover this. We may at our discretion close your position(s) partly or in full if your tradable funds are below zero.
14.12Margin calls can be made by telephone, voicemail, email, fax, letter or any other method deemed appropriate by WFD. It is your responsibility to ensure that we always have the correct and up to date information on file so that you may be contacted. If we are unable to reach you but have left a message notifying you of the margin call, or were unable to contact you in any capacity through no fault of ours, then you will be deemed to have been notified.
14.13Any margin call over $10,000, or equivalent, made before midday UK time must be paid before 4pm UK time that day, or if made after midday then by 4pm the next business day. Just because a margin call has been made and you are arranging payment, we may still close your position or part of it if the position moves further against you. Funds must have cleared and be in our account to be valid.
任何超过$ 10,000 或相等的追加保证金，都必须在在当日英国时间下午4点前支付，或在第二天的当日下午4点前支付。追加保证金已发出，并且您已筹备付款，但如果头寸进一步逆向移动，我们可能仍然会关闭全部或部分头寸。资金在确认到账我方账户后方视为有效。
14.14WFD will not be liable for any losses incurred by you arising from your positions being closed due to a margin payment not being made in the required time or manor.
14.15Margin payments can be made by debit or credit card. For amounts over $ 10,000, or equivalent, you can make a bank transfer .
15. Trades 交易
15.1WFD will act as the principle counter party on all trades or orders undertaken between you and us.
15.2All Spot or rolling Foreign Exchange trades“roll” every day to the next business day if you are holding a position at 5pm New York time, and are subject to financing. This can change due to public holidays or other events and we will endeavour to notify you of any changes via our website. Foreign Exchange futures trades are not subject to financing.
15.3All trades or orders carried out by us are done so on an execution only basis, unless a prior agreement has been reached and agreed to in writing.
15.4All trades and orders initiated by you will be treated as an offer by you to deal on our quote which we can at our discretion accept or decline. Our displayed quote should not be deemed an offer by us to deal at that price.
15.5We are under no obligation to suggest ways for you to reduce any risk exposure you may have.
15.6We are not expected to, or licensed to, give specific advice on investments or make any recommendations to you. If such advice or recommendation is given, whether intentionally or not, and acted upon by you then this should be solely at your discretion and we will not be held accountable in any way.
15.7Any information given to you by us in good faith and acted upon or not by you, in the absence of fraud or negligence, will not lead to us being held accountable for any losses, or profits, made by you.
15.8All trades carried out by you are done so entirely on your own judgement, whether or not you acted on or relied upon any information given by us on the market concerned whether it be the price, or positions held. Any trades carried out by you in such a circumstance will be held binding and deemed valid.
15.9You should fully understand and make yourself aware of all financial considerations required by you before you place a trade. This includes the notional trading requirement (NTR), and the consequences of a trade moving against you.
在开出交易前，您必须完全了解和注意所有需要考虑的的资金变动。这包括名义交易要求 (NTR) 和交易走势逆向您的结果。
15.10It is your responsibility to make sure you fully understand all aspects of any trade placed by you and the laws and regulations governing it. If you are in any doubt as to any area of a trade then you should seek clarification with us before the trade is carried out.
15.11We are under no obligation to accept any trade from you, whether it is to open or close a position if we believe that by doing so would be illegal. In the event that a trade had been opened then we reserve the right to void the original trade.
15.12We reserve the right to void, or amend any trade that may have arisen from the price being wrong due to a “manifest error” or a “force majeure” (see later sections).
我们保留对由 “明显错误”、报价延误或不可抗力因素导致错价的单子进行删除或修改的权利 ( 请查看之后的章节）。
15.13We are an internet based trading company and as such you accept that there are risks with your internet connection to our website failing and that our Internet Trading Platform could fail. In such circumstances you accept all liabilities for any trading losses that you may occur as a result of this, and you must contact WFD immediately for us to try and help. If you do experience problems then it is imperative that you contact the trading desk immediately.
15.14 When you place a trade, you deal on our price. We are your counterparty. You sell at our bid price and buy at our offer price. All orders are treated in the same way and will be triggered on our bid or offer.
15.15You may hold opposing positions with WFD. This means that you can be long and short the same product. You should be careful when you want to close a position that you do close a specific position rather than create a position the opposite way around. While this would mitigate your exposure, you would then have more positions open.
您可以与 WFD 持对冲仓位。这表示您可以持有相同商品的多头和空头。当您想平仓时，您必须注意您是关闭特定的仓位，而不是建立相反的仓位。这将会减轻您的风险，让您有更多仓位可以持有。
15.16You can close part of your position if you wish, by entering an amount on the trading ticket less than the amount you already have open.
15.17If your trade does not automatically roll because it has an expiry date, as in a futures market, then this will automatically close on your account at the prevailing closing rate. This rate may not always be determined as per the MIS, and in extreme circumstances, WFD reserve the right to add a closing spread to this price to fairly represent where we un‐hedged the position. This may typically occur in times of extreme volatility or illiquidity.
15.18In very rare circumstances WFD reserves the right to extend the expiry date of a product if the market liquidity is such that it is impossible for us to close our hedge in the market. This might be because of a market being“limit down” for example which may have a similar effect to the market being closed.
15.19WFD do reject a trade, for whatever reason, it is your sole responsibility to make sure that you are aware of what positions you have or do not have open as a consequence of this, and if necessary attempt to trade again to achieve your desired result.
15.20Trades in FX or CFDs are always done in the Notional Amount or via“Lots” which is shown in the Market Information Sheets (MIS).
15.20.1This means that if you are trading FX, then if you wanted to buy 100,000 Euros vs US Dollar then you would buy 1 lot. You could buy just 0.1 lots if all you wanted to buy was 10,000.
即当您欲交易外汇产品时，您交易 1Lot（手）的欧元 / 美元表示您买入100,000合约单位的欧元 / 美元，而如果您只想买入10,000合约单位，那输入0.1Lot（手）即可。
15.20.2If you were trading equities and you bought 1 CFD you would be buying 1 share. So if you wanted to buy 10,000 shares in Microsoft you would buy 10,000 CFDs.
16. Rolling Trades 续期交易
16.1Rolling trades have no theoretical expiry date. They are automatically rolled by us at the close of business every day and may be subject to a financing charge (or credit) depending on what market it is. If there are insufficient funds in your account at the time the trade is rolled then WFD reserve the right not to roll the position, and it will be left to expire at the market price.
16.2All rolling trades, whether in FX or CFDs are subject to financing. These are calculated in different ways.
16.3Apart from FX, our rolling trades are usually based on the underlying market. However occasionally these prices can look significantly different from where the underlying market appears to be trading at that time because we base our prices for some of these markets on where the futures price is, adjusted by a“fair value”. This is quite normal market practice and enables us to quote some markets out of hours and also after major news events when the normal underlying market price maybe stagnant or very wide.
16.4This is calculated by taking the Futures Price and taking away the estimated dividend or index points and adding the cost of carry based on the interest rate.
16.5In certain instances we may quote a“custom” or“unique” market where there is no underlying market. In such cases WFD will price this grey market as fairly and transparently as possible.
在特定情况下，没有基础市场的时候，我们可能报出“自订”或“独特”的市场报价。在这种情况下， WFD 将会尽可能公平和透明地为此灰色市场进行定价。
16.6WFD may at its sole discretion crystallise the profits or losses of any clients rolling trades. This crystallisation, known as a “bed and breakfast‟, will be done at the current mid-price at that time and will not incur any penalty charge or spread being applied.
16.7A client may, at any time, request that a “bed a breakfast‟ is carried out on a rolling position to crystallise a profit or loss. There may be a nominal charge for this service.
客户可以在任何时间，申请“隔日交易”，实现续期仓位来具体化结算盈利或损失。对此服务将会有象征式收费。 ( 隔日交易，常指将资本利得或亏损入账以满足税务上的要求，在财务年末卖出持有的金融产品并第二天随即买入的行为。）
17. Futures Trades 期货交易
17.1All non‐rolling trades will be treated as a“future”. That means that unless it is a“rolling future” it will expire on a specific date and time. These details can be found in our Market Information Sheets.
18. Markets 市场
18.1WFD offers an extensive range of markets which is evolving constantly. The MIS (Market Information Sheets) will be updated online to reflect any additions or amendments to the markets that we quote or the specifications of those markets.
18.2It is important that your keep yourself up to date with the specifications of these markets as they can change.
18.3None of the markets that WFD make prices in settle with physical delivery of that product. All markets are settled with cash, with either us paying you or you paying us.
18.4You have no legal rights over any company in the form of dividends, voting rights or ownership if you trade on an equity in the form of a CFD.
18.5While every effort is made to ensure that the prices that WFD publish over our ITP（MT5） are correct, occasionally the prices quoted by us may not be correct. In such cases WFD will not be held liable for any losses incurred as a result of not being able to deal at this price.
18.6In the event of something causing a disruption to a market WFD may at its absolute discretion, close a market, cancel orders or fill orders at a level that it believes in good faith to be appropriate. This may immediately put you on a margin call, meaning that you are close to being closed out because you are running out of funds.
19. Spreads 点差
19.1Every effort will be made to keep spreads as narrow as possible at all times while a market is open and if we are making an out of hours market.
19.2WFD reserves the right to change its spreads at any time in any market for any reason. Examples of this might be a lack of liquidity, volatile conditions or out of hours markets.
19.3During this time we may change our maximum deal sizes as well.
20. Orders 订单
20.1An order is a request by you, to us, to execute a trade when a certain price in a product is achieved. This may result in a new position being opened or an existing position being closed.
20.2Orders fall into three key areas. These are Limits, Stops and Stop Losses.
20.3A Limit order is an order to either sell at a level higher than where the current price is or to buy at a level lower than where the current price is. If this Limit order is executed then this could either open a new trade or close an existing one.
20.4A Stop is an order to either buy at a level higher than where the current price is or to sell at a level lower than where the current price is. If a Stop order is executed then this could either open a new trade or close an existing one. Usually Stops are used to open new positions as a Stop Loss is used instead to close a position.
20.5A Stop Loss is an order which is attached to an existing trade. It is an order to either buy at a level higher than where the current price is or sell at a level lower than where the current price is Loss is executed then it will close the existing position which it is attached to.
20.6It is important to note that if you place a Stop order, rather than a Stop Loss order, so that a position you have open will be closed if a certain price level is met, then this order will still be live even if you close out the trade or position manually. So you would then need to cancel the Stop manually.
20.7Stop Loss orders are GTC (Good Till Canceled) where as Stops or Limits can be left GTC or GT (Good Till) which means you can choose when it expires.
20.8All orders will only be triggered when WFD’s price reaches, or goes through, that level. For“BUY” orders that will be when our“offer” reaches that level. For“SELL” orders that will be when our“bid” reaches that level.
20.9We reserve the right not to execute an order if you do not have sufficient funds in your account at the exact time it is triggered to satisfy the NTR (Notional Trading Requirement).
20.10All orders are filled on a“non guaranteed” basis. This means that WFD do not guarantee to fill any type of order at the exact price requested. We will always endeavour to fill orders at the requested price, where we can, or at a better level if possible. However there may be circumstances where this is not the case, where a market price“gaps” for example and we will fill you at our next available price. (See“gapping” section).
所有订单在“非保证”基础上成交。意思是指 WFD 不会保证任何订单类型在被申请的确切的价格成交。如果我们可以，或以更佳的水平，我们经常致力于用被申请价格成交订单。但是可能的情况下，虽然并非常见，当市场价格有跳空，我们将会用下一个最合适的价格成交。
20.11All orders, regardless of their type, can only be triggered during WFD’s market opening hours for that individual market (See Market Information Sheets ‐ MIS).
20.12All orders can only be left a minimum distance away from where the WFD price is at that time. This can be seen on the deal ticket or the MIS, or by contacting the dealing desk.
客户仅允许在最小挂单距离基础上设置挂单，所有定单距离市价的距离必须是在 WFD 规定的最小范围之外。这个最小挂单距离可以在交易的平台上定单窗口查看到或者咨询我们的交易员。
20.13On the Meta Trader 5 platform you can leave a trailing stop loss which will automatically move up or down depending on your position and if you are making money. This will only work while you are logged into the platform.
在 MT5 平台上，您可以设置追踪止损，它将会自动向上或向下，这取决您的仓位并且如果您想盈利的话。当然设置追踪止损只有在登陆平台的时候才会生效。
20.14We reserve the right to refuse any amendments to any type of existing order.
21. Gapping 跳空
21.1No market is immune to gapping. This occurs when a market price jumps (or gaps) often following a news announcement. In the case of shares, this might occur after the results or a profit warning. For other markets this may occur after some important economic news. We will endeavour to fill you at the first price available to us when this situation occurs.
21.2By its very nature the market concerned can gap up or down. This is of concern if you have an order to buy or sell on that market. For example:
21.3If you were long an equity and you had a stop loss order in the system to sell your position if the market price went lower and you did not want to lose too much money, then if the market
gapped downwards then it might gap through the level of your price to a lower price which is where you would be filled. Thus you would lose more money than you were prepared to lose. In exceptional circumstances this might result in you having a negative balance on your account for which you are legally liable.
21.4You could also benefit from gapping as you might for example be short a market with a limit order in the system to take profit lower down, and buy it back. If the market gapped through your level then you would end up buying the position back at a better rate than you intended.
22. Financing 隔夜利息
22.1WFD will on a daily basis usually calculate financing due on any positions that you hold overnight, unless they are futures contracts.
22.2On FX this means the cost to roll your position forward from one business day to the next. As a rule FX deals two working days ahead, and we use“market rates”, where possible, to give you the best possible prices to roll your position. This is usually done on any positions held at 5pm New York time (EST) and we roll them using“Tom Next” points to the next business day.
对于外汇，这意味着您的仓位向前续期费用到下一个营业日。外汇规则是提前两个工作日，我们利用“市场利率”给您最佳的价格续期您的仓位。一般是任何仓位在纽约时间（EST）下午 5 时和我们利用“Tom Next”续期到下一个营业日。
22.3This financing can result in you paying or receiving funds depending on your position and on what currency pairs you have positions in. You are more likely to receive financing if you are long a currency with a higher interest rate than the one you are short.
22.4The financing is calculated on the actual notional value of your trade.
22.5For Equities, Indices and Commodities，the interest charge is regulated in MIS.
22.6We reserve the right to change the financing rates at any time or calculation methods at any time.
23. Dividends 股息
23.1For Equity or Indices trades when a Dividend is due we will credit or debit your account with the corresponding amount, if you are holding a position on ex‐dividend day.
23.2If you are long an equity or index then we will credit you.
23.3If you are short an equity or index then we will debit you.
23.4WFD may at its absolute discretion withhold or change the way in which a dividend adjustment is made.
24. Out of Hours Markets 休市
24.1WFD may at its absolute discretion quote a“grey market” in any market it chooses. It will base the price for that market on other relevant markets that are open using a complex algorithm. All orders will be monitored while this market is open with WFD. Check the MIS for trading times.
25. Corporate Actions 股东或监督委员会的决议
25.1All trades in Equities and Indices are subject to Corporate Actions.
25.2WFD will adjust all trades that a corporate action may affect.
25.3This may be due to a share dilution, consolidation, reclassification, bonus shares being issued, or any other event that WFD, at its absolute discretion, deems appropriate.
这可能是因为 WFD 以其绝对斟酌权视为适合的股票稀释、合并、再次分类、发出分红股，或其他任何事件。
25.4This adjustment may in some instances lead to the initial trade being canceled and replaced with a new trade at a new price.
25.5In the event of an outright takeover of the company, if you have a trade on we will close the position at the final agreed sale price.
25.6At no stage do you have any voting rights in the company concerned.
26. Order Execution Policy 订单执行政策
26.1.1WFD is regulated by the VFSC and as such must follow an execution policy. This policy is applicable to all trades and orders placed and executed with WFD.
WFD 受瓦努阿图金融服务委员会监管机构监管，因此必须执行政策。此政策适用于与 WFD 合作开立的所有交易和订单。
26.1.2WFD Execution Policy forms part of our Client Agreement and as such, by agreeing to these Client Agreement , you are agreeing to the terms of our Order Execution Policy. This policy applies equally to orders and trades for both Retail and Professional Customers.
26.1.3WFD provides margin trading services in Foreign Exchange and CFDs. It is WFD decision as to what markets to offer its clients and it does so not as a broker but as a principle and counterparty to each trade. As such, every market offered by WFD is quoted as a derivative of the underlying market and we are the only execution venue to which you have access through us.
26.1.4WFD facilitates financial dealing via a number of online trading terminals depending on which markets you wish to trade. In exceptional circumstances, for example if there is an IT breakdown then telephone trading is accepted.
26.1.5WFD offers a 24 hour service five days a week. Not all markets will be open or tradable during this time and all relevant information on this subject is available on our Market Information Sheets (MIS).
WFD提供每星期 5×24 小时的完善服务。请注意市场不全会在此时间内开市或交易，所有相关信息您都可以在我们的市场信息表（Market Information Sheet, MIS）中找到。
26.1.6WFD may at its discretion hedge some or all of a client”s position in the underlying market. WFD at no time owes a fiduciary duty to the client as an agent or broker other than its normal obligations governed by financial regulations.
26.1.7While every effort is made to ensure that WFD prices are the best available to its clients, there are no guarantees that you might not be able to get a better price elsewhere.
26.2.1The execution policy put in place by WFD monitors several factors that ultimately affect this policy. These most important of which we believe are:
26.2.2Price: WFD takes the underlying market price of the derivative it is quoting and then applies an algorithm to this price to achieve its own market price. The underlying feed that WFD uses may be from one source or exchange or in the case of FX from several feeds.
26.2.3Where several feeds are used the best bid and offer combinations are used to maintain tight spreads at all times.
26.2.4Costs: Our market price will often be different to the underlying as it may also include commissions, financing and, in the case of equities, dividends.
26.2.5Liquidity: The price made by WFD, unlike the underlying market, is usually good in up to a certain size. In order to maintain this additional liquidity to the market WFD may apply a different spread to the price than the underlying market has.
26.2.6Speed of execution: In order to facilitate the speed of execution WFD have imposed a maximum deal size on every market, viewable in the MIS. This limit is regularly monitored and takes into consideration many factors including liquidity and volatility to determine an amount that we are confident to accept without referral to speed up execution.
执行速度：为了提高执行速度，WFD对每个市场都建立了最高交易大小手数，详细可查看市场信息表（Market Information Sheet, MIS）。但限额经常是可控的，而且考虑到众多因素，包括流动性和波动性来决定账户大小。我们有信心接受未经确定的金额，以加快执行的速度。
26.3.1An order will be triggered on our price. This means that a“buy” order will be triggered when our“offer” price gets to that level and a“sell” order will be triggered when our“bid” price gets to that level.
26.3.2All orders will be filled at their requested levels wherever possible or better. There are, in certain instances, situations where this is not possible. If a market“gaps” through the requested price level of an order then WFD will fill your order at the next available price, or better. (See section on gapping).
26.3.3If an order is triggered (or several similar orders) and is for an amount larger than our normal maximum trade size (viewable on the MIS) then this may result in the order(s) being filled at a worse level due to liquidity issues.
如果一个订单（或几个类似的订单）在比我们正常的最大交易大小（市场信息表 Market Information Sheet, MIS 可查看）数量大的情况下被执行了，这可能是因为流动性的问题导致的订单以较差水平成交。
26.3.4No orders will be triggered outside our normal market trading hours.
26.3.5If we quote a“grey market” in a market that there is an order in then this will be triggered if our price gets to that level even if the underlying market is closed.
26.3.6Orders may be left GTC (Good till canceled... by the client) or GT (Good till ... a time specified by the client).
26.4.1While the above four factors are considered by WFD to be the most important in our best execution policy, there are many other situations which can arise leading to price variations.
26.4.2Some markets which are quoted by WFD are done so outside of normal market hours, and as such are known as“grey markets”. In these situations while every effort is made to keep prices and spreads consistent, this may not always be possible during particular volatile periods or during periods of illiquidity in corresponding markets.
由 WFD 报出的部分市场在非一般市场时段，这样称为“灰色市场”。在此环境下，我们将致力保持价格和点差一致，但当在波动特别激烈的时期或相对市场流动性低的时候，这未必可能保持。
26.4.3While WFD does not charge commission to any of its clients for FX or CFDs, there may be situations, through third party introductions or through partnership deals with affiliated companies that a commission or other income generated from your trade is shared with third parties. In such circumstances this will be made abundantly clear to the client by the party concerned and this information is available on request.
当WFD不会对任何外汇、差价合约的客户收取佣金，这可能在环境下，通过第三方介绍或与附属公司合作，在你的交易 / 赌注中产生的佣金或其他收入会与第三方分享。在该情况下 , 这将会由相关方向客户大量表明并此信息可以要求被提供。
26.4.4In some circumstances a client introduced to us by a third party may pay wider spreads than our direct clients and or a commission. This is a matter for the client and the third party, and WFD does not benefit from this arrangement. WFD will always make available to any client the details of such an arrangement if so required.
在某些情况下，相比较我们的直接客户，由第三方介绍的客户可能会支付较大的点差成本或者佣金。这属于客户和第三方之间的协议，而 WFD并不会从中获取利益。但是如果客户有要求，WFD 将尽最大可能帮助客户了解详尽的交易信息。
26.4.5We will at our discretion work an order for you in the“underlying market” if there is likelihood that we may be unable to complete the order in the normal course of our business. In such a circumstance, if we agree to do this,then when WFD have been filled in the market place we will then fill your order at the corresponding price in our market.
26.4.6We may amalgamate your orders with those of other clients. If we do this we will endeavour to make sure that this is not done so as to disadvantage you in any way.
我们可能合并你的订单与其他客户。如果我们这样处理 , 会致力确保你不会在任何方面亏损。
26.4.7We constantly monitor our order execution policy to make sure that we provide you with the best service possible, and make any changes that we deem necessary to provide this level of service.
我们正在监控我们订单执行政策 , 尽可能确保我们向你提供最佳服务和作任何修改我们认为有需要为此服务提供的。
27. Manifest Error 明显错误
27.1A manifest error can occur when a wrong price has been dealt on. This can be due to human error in the form of a misquote, a computer fault, or a latent price caused by a slow internet feed.
27.2WFD may at its absolute discretion cancel, or amend, a trade or change the price that a trade has been dealt at if it believes that a manifest or palpable error has occurred.
27.3If WFD does change a price from the one dealt at, then it will do so to a fair price which represents where the price should have been at the time of the deal.
28. Force Majeure 不可抗力
28.1A Force Majeure covers many areas of unforeseen events such as an act of God, like earthquakes and flooding to war, sabotage, IT or communications failure or a complete lack of market liquidity. This may include an equity becoming un‐borrowable.
28.2If such an event occurs, WFD will decide if this constitutes a Force Majeure event and if so will no longer be bound by this agreement or be held liable to any of the consequences that this may have.
28.3WFD will at all times undertake to provide its customers with the best possible service and prices during the time that a Force Majeure is in effect.
29. Authorised Persons 授权人士
29.1You as the account holder are the only person authorised to trade on your account.
29.2If you wish a third party to be able to trade on your account then you must request that an“authorised dealer” be added to your account via mail or email. This will allow someone else to trade on your account without having the full“power of attorney” powers of control.
29.3This third party will not be able to make third party payments.
29.4You will still be liable for every trade and for all monies owed.
30. Web site 网站
30.1WFD accepts no liability for any computer virus or other malicious software that you may encounter through accessing our website or online trading applications.
30.2WFD may, at its absolute discretion, close its Internet Trading Platform and website, without any prior notice. WFD will not be held liable for any losses that may occur due to this situation.
WFD 能够行使绝对斟酌权，关闭交易平台和网站，而无需作出任何的事前通知。WFD 将不会对此情况可能导致的任何损失承担责任。
30.3The live prices published on our ITP（MT5） are for your sole use and should not be redistributed in any way or for any reason.
31. Third Party Providers 第三方供应商
31.1WFD uses third party providers in various aspects of its business operations. At no stage do we accept any liability for any information that they provide us or that is published on our website via their application, or on any mobile application.
31.2We accept no liability over any losses made by you relying on any information that either we or a third party provides.
32. Intellectual Property 知识产权
32.1The intellectual property rights of all websites controlled by EXO CAPITAL CO., LTDWALLSTREND HOLDING GROUP CO., LTD (WFD) and all of its subsidiaries in its own name and those of its trading names remains the property of WFD.
32.2The above includes all trademarks, charts, databases, adverts, prices, market information, product information, website design, logos and all other areas of the website. Nothing may be copied, reproduced or disseminated in any way without prior consent from WFD.
上述范围包括商标、图表、数据库、广告、价格、市场信息、产 品信息、网站设计，标识和所有其他的网站内容等。未经 WFD 事先同意，任何人无权复制、重印或传播。
32.3Third party vendors or software providers shown or linked to our website also own the intellectual property rights to their products. WFD does not accept any liability in a capacity for any loss or misrepresentation that may occur from using or relying upon these third parties.
33. Negative Balances 负余额
33.1WFD will absorb and write off any negative cash balances that may have arisen from trading FX, where the market has gapped. This offer is strictly limited to FX markets only and is only applicable during normal market conditions, and does not cover movements in markets generated from news events, acts of terrorism, central bank statements or acts of God. This offer is subject to change without notice and has only been offered as a marketing initiative.
33.2In the unlikely event that you end up with a negative cash balance this should be paid immediately to WFD via a credit/ debit card or bank transfer. Failure to do so could result in legal proceedings and interest being charged on the debt at 4% above the prevailing interest rate at the time.
负余额未必会发生，若一旦发生，如果您持有负数余额，您必须通过信用卡 / 借记卡或银行转账马上支付给WFD。未能进行支付的，会产生法律后果，并要支付当前现行利率4%以上的利息。
34. Market Abuse 滥用市场
34.1You undertake not to trade with WFD, if to do so would contravene market abuse rules.
34.2You should not trade an equity if you are involved in any activity to do with that company which may affect its price. For example if you are connected with the merger or takeover of that or by that company.
34.3You should not buy or increase your position in a company if to do so would exceed your declarable interest in that company under the law at that time.
34.4You understand that WFD may hedge some or all of any trades that you do and as such your trades can have a material effect on the actual market price.
34.5You understand that any trades that you place will be subject to judicial regulation and in particular dealing in equities will be covered by the Criminal Justice Act.
35. Money Laundering 反洗钱
35.1We fully support the VFSC, the Police and all International Governments and Agencies in their fight against Money Laundering and have procedures in place to combat all areas of this activity. We will not tolerate any attempts to launder money or what may appear to be laundering money and we reserve the right to reject or refuse any payment or payment request if we have any suspicions about the legality of the transaction, even if it is legitimate.
36. Conflicts of Interest 利益冲突
36.1WFD is legally required to take all steps that it reasonably can to identify any conflicts of interests that may occur between itself, its employees, its clients and any associated third parties or affiliates.
36.2If WFD does identify any such conflict of interest, it will then manage that situation so as to prevent its abuse.
36.3Above all, the interests of the clients are paramount. Every effort will be made to ensure that all clients and their business transactions are treated fairly and professionally.
36.4In the event of a potential conflict where more than one customer has an order in the same market then these will be filled on a first come first served basis.
36.5WFD, its employees or any third party associates should not benefit directly from any conflict of interest, apart from in its normal business.
36.6You accept that while every effort will be made to ensure no abuse occurs, there will be times where a conflict of interest occurs.
36.7Our compliance department will review our procedures to prevent conflicts of interest on a regular basis.
36.8Staff at WFD may on occasion accept small gifts or hospitality from third parties associated with the day to day running of the business. At no time will this affect or impair their duty to act in the best interests of our clients.
37. TCF (Treating Customers Fairly) TCF（公平对待客户）
37.1We are committed to providing the best service we can to our clients. As part of this process we continually monitor our procedures and the way in which we do business in order that we meet the highest standards expected of us .
37.2We ensure all staff have the highest levels of training and product knowledge at all times.
37.3We ensure that clients are made aware of the risks associated with their trading activity.
37.4We provide products that are clearly defined and easy to understand and trade.
37.5We constantly update our website with product and market information.
37.6We provide tutorials and literature to help inform and educate clients.
37.7We ensure that all promotions are clear and not misleading.
37.8We have a clear and simple procedure in place for clients to follow in the event of a complaint.
37.9We actively encourage feedback to ensure that clients fully understand all areas of our service.
38. Privacy and Data Protection 隐私和数据保护
38.1WFD will at all times comply with the Data Protection Act 1998.
WFD 在任何时候都遵 1998年数据保护法。
38.2By accepting these terms of business you understand that you will be providing us with personal information that we will use to open, administer and maintain your account with us.
38.3We undertake not to sell or pass on your personal information to any third parties except to those that we need to in relation to the normal operation of our business. These include credit card processing and verification centers, law enforcement agencies, any financial or other regulators, our auditors and your compliance officer (if you are, or your firm is, VFSC regulated) and introducing brokers that we may have a business agreement with.
38.4However we may pass your information on to other companies within our group that we feel may be able to provide a service to you.
38.5We may provide personal details to other margin trading firms who are seeking a reference, however this would not include details of any open positions.
38.6We obtain most of the information about our clients directly from them, but we reserve the right to obtain information from other sources such as credit reference agencies, the Electoral Register, or fraud prevention agencies.
38.7We may use the information we have to help us provide a better service or new products to you and our other clients.
38.8All staff at WFD are fully trained in the confidentiality of handling personal information.
38.9All personal information held by us is done so in secure computer based storage facilities wherever possible. Otherwise we hold the information in secure paper‐based files. No unauthorised persons are able to gain access to these storage facilities.
38.10Our website may install cookies on your computer so that we can better serve your requirements by knowing what areas of our website you have been looking at and speeding your navigation. You have the option of turning this function off via your computer settings if you wish, although this may affect your ability to view other parts of the website.
38.11While we make every effort to ensure all the information we hold is correct and up to date, it is your responsibility to furnish us with any changes in your personal information.
38.12You have the right under Data Protection Act of 1998 to request a copy of the information that we hold about you so that you may advise us of any inaccuracies. To do so you must write to us requesting this information and providing verification of your identity.
39. Closure of Accounts 关闭账户
39.1WFD may at its absolute discretion close an account at any time for any reason. In the interests of treating customers fairly this would normally be for a specific reason, but is not limited to such, and we are not obliged to give a reason. Examples of situations where this might occur are:
39.1.1You are rude or abusive to staff.
39.1.2You have supplied false personal information.
39.1.3WFD has reasonable grounds to believe that you are involved in some form of market abuse.
39.1.4You owe us money.
39.1.5The trading activity on your account is not suited to WFD.
39.1.6If WFD discovers that your account trading activity breaches any compliance or regulatory rules in the Vanuatu or overseas.
如果 WFD 发现了您账户的交易活动违反了瓦努阿图或海外的任何规定与监管规则。
39.2If we decide to close your account, while you have open positions, then you will not be entitled to open any new positions, but you will be able to close any positions that remain open in the normal manner.
40. Complaints Procedures 投诉手续
40.1WFD endeavours to offer its customers the highest standards of service in all aspects of its business, however there may be elements of our service that do not meet your satisfaction. The Compliance Officer will record any customer complaints or expressions of dissatisfaction in the firm”s Complaints Register.
40.2You should raise any query that you have as soon as possible or in any event within 3 days of its discovery. We reserve the right not to entertain any queries brought to our attention after that time.
您应该在事件发生前的 3 天内尽快提出查询要求，但即使这些查询吸引了我们的注意力，我们也有权利不受理任何查询。
40.3In the first instance, you should try to resolve your dissatisfaction or grievance with your normal WFD contact or email.
40.4If that person is unable to resolve your dispute to your satisfaction, you should direct your complaint or grievance either verbally or in writing to the WFD Compliance Officer.
40.5WFD will send a written acknowledgement of your complaint to you within five business days of receipt.
40.6Within four weeks of receiving a complaint, WFD will send you either:a final response letter; or a written response, explaining why it is not currently possible to resolve the complaint and indicating to you when the firm will make further contact (This should be within eight weeks of your complaint).
收到投诉的4个星期内，WFD将会给您发送：最终答复信或者书面回应，解释为什么它是目前尚未解决的投诉，并提示您公司将会有进一步的服务（这会在您投诉的 8 周之内解决）。
40.7If the complaint remains unresolved longer than eight weeks from receipt of your complaint, WFD will either send you:a final response or a written explanation why the firm is still unable to make a final response to you. It shall provide you with reasons for the delay and an indication when it expects to be able to provide you with a final response.
41. Responsible Trading 负责任的交易
41.1At WFD we want you to trade successfully, but we are fully aware that this does not always happen, and we actively encourage responsible trading. In those situations it is important that you are responsible in your actions to make sure you do not lose more money than you can afford to.
41.2You should only ever speculate with money you can afford to lose and it is imperative that you have read and understood our Risk Warning notice.
41.3We do not recommend borrowing money, spending more than you can afford or using money set aside for other purposes for trading.
1.1.1Scalping can apply to any online quoted financial market. Traditionally it primarily refers to the Foreign Exchange market due to its size, liquidity and tight spreads.
1.1.2It is when a trader, often using high leverage, attempts to take advantage of a price discrepancy or anomaly in market in an extremely short period of time, typically a few seconds.
1.1.3Often this price anomaly may be caused by latent prices which is where, due to the complexity of transmitting prices online around the world, delays in updates occur, which although small, can still be exploited.
1.2.1WFD provides fixed spreads and liquidity to its customers, where possible. It does this to help them trade involatile global financial markets by giving them greater stability of pricing. It does not do this so that people can abuse this to their own ends. We will therefore invoke our Manifest Error rule for anyone we deem to have been dealing on latent prices and abusing the fixed spreads that we provide. This may result in some or all of those trades being canceled or amended.
1.2.2WFD reserves the right at any point to change a client”s underlying liquidity feed to another, at its sole discretion,in order to protect itself against abuse of all kinds.
2.Expert Advisors (EA’s) and Indicators Disclaimer
2.1It is accepted by the end user (the client of WFD) that they take sole responsibility for any third party applications that they may install either directly or indirectly on their Meta Trader platform, and also the use of any software provided on MT4 when downloaded.
2.2These may include robotic trading tools, known as Expert Advisors, which can be set up to automatically trade on a client”s account or indicators which allegedly show beneficial times to trade.
2.3It is the clients sole responsibility to do due diligence on the respective software and then decide if they are willing to take the risk of installing and using it on their account(s) with WFD.
对各自的软件做尽职调查是客户自己的责任。如果愿意承担在 WFD 账户中安装使用智能交易系统的风险，客户完全可以决定这么做。
2.4WFD is not responsible in any capacity for decisions, trades or signals generated by the use of
“EA”s or indicators or the client”s use of them or with for the resulting profits or losses generated by them.
2.5Some“EA”s may generate a high number of trades and at times leverage a client to their maximum possible exposure to a market given their available funds. It is the client”s sole responsibility to monitor these trades and/or orders and the profit and loss generated by them, as it is at all times on their account.
2.6WFD at all times reserves the rights to disable the use of “EA”s from a client”s account.
1. Foreign Exchange and Contracts for Difference with WALLSTREND HOLDING GROUP CO., LTD(hereafter referred as “WFD”) are both margin traded products. Therefore they inherently carry a high level of risk compared to other investments, and as such you could rapidly lose more than your initial deposit. They are all legally enforceable under the Financial Services and Markets Act 2000.
WALLSTREND HOLDING GROUP CO., LTD（以下简称“WFD”）提供的外汇和差价合约都是属于保证金交易。所以相对于其他的投资方式，该产品具有高风险并且可能会导致您的损失超过您的初始投资金额。所有条款均依据《2000年金融服务和市场法》实施执行。
2.Margined trades are trades on the price movement of a product. They settle based on the difference between the opening price and the closing price of the trade.
3.You should not trade any margined product unless you fully understand all the risks involved with doing so and that you have sufficient resources available to you that in the event, however unlikely you may deem it to be, that there is an adverse movement in the price of that product that you can meet the financial obligations required by you with respect to margin payments and losses.
4.Margin trading is leveraged trading that allows“gearing” which means that you can place a large trade by only putting up a small amount of money as margin. If the price moves in your favour you can greatly increase your profits. However even a small movement in price against you can lead to substantial losses and you may be required to deposit additional margin with us immediately to keep these trades open. You are liable for this and for any losses that may occur if your positions are closed. The potential losses, or profits, for margin traded products are, or could be, unlimited and this should always be considered by you when making trading decisions.
5.Not all trades can be opened or closed 24 hours a day.Many are subject to strict opening and closing times which can fluctuate. These are posted on our Market Information Sheets (MIS) which are available online and which we endeavour to keep up to date, without any obligation or liability on us to do so, or for its accuracy. For example national holidays and Daylight savings changes will affect the times when you can trade. Also a market may be suspended for a variety of reasons and during this time you will not usually be able to trade.You should be aware that this may cause the markets to open at a significantly different price from where they closed.
并非所有的商品都可以进行24小时交易，很多商品都有严格的开市和休市时间，并且可能有变化。这些交易时间我们会公布在市场信息表（Market Information Sheet, MIS）中，我们会尽可能及时更新，但对于它的准确性并不承担任何责任和义务。例如，国家假期和冬夏令时变更会影响您的交易时间。某一市场可能因多种原因休市，在此时间段，您通常不能进行交易。您应该知道, 当再次开市的时候，价格可能截然不同。
6.You are placing trades on the prices we provided..Depending on the market, our prices will usually be based on an exchange price but can fluctuate away from the underlying prices due to a variety of reasons. All open trades can only be closed and settled with us.
7.Before you begin to trade, you should ensure that you understand all commissions and other charges for which you will be liable. All costs and charges have been disclosed to you separately.
8.Forex and derivative products are exposed to “exchange risk”. Exchange risk also known as “currency risk” is the risk of loss (or gain) from unforeseen changes in exchange rates (the prices at which currencies trade for each other). There is a risk that you will have to close out a long or short position in a foreign currency at a loss due to an adverse movement in exchange rates. It can also be described as the uncertainty of returns where you purchase securities in a currency different to your domestic currency.
外汇和衍生产品面临着“外汇风险”。外汇风险也被称为“货币风险”, 是由于不可预见的汇率变化而造成的损失 (或收益) 的风险(货币为彼此交易的价格)。由于汇率的不利波动，存在您将不得不平仓的风险，导致外币损失。外汇风险也可以描述为在您购买与您的国内货币不同的期货的情况下获得的不确定的回报。
9.WFD will hold unutilised retail customer funds in a segregated bank account. We reserve the right to utilise some or all of those funds up to the level that the client is using to fund open positions. However even in a segregated account you may not be afforded complete protection. All individual client funds are subject to the Rules of the Vanuatu Financial Services Commission (VFSC).
10.You carry out your trading activities on an execution only basis. This means that we will not provide you with investment advice relating to investments or possible transactions in investments. We are permitted to provide factual market information and information about transaction procedures, potential risks involved and how those risks may be minimised, but any decision made to trade must be yours.
11.There are risks associated with using an internet based trading system including, but not limited to, the failure of hardware, software, and internet connection. WFD is not responsible for communication failures or delays when trading via the internet. WFD employs back-up systems and contingency plans to minimise the possibility of system failure.
使用基于互联网的交易系统存在风险, 包括但不限于硬件、软件和互联网连接失败。在通过互联网进行交易时，WFD不负责通信故障或延迟。WFD采用后备系统和应急计划, 以尽量减少系统故障的可能性。
12.WFD has taken reasonable measures to ensure the accuracy of the information on the website. The content on this website is subject to change at any time without notice. Any opinions, news, research, analyses, prices, or other information contained on this website are provided as general market commentary, and do not constitute investment advice.
13.If you are in any doubt whatsoever about any aspect of the risks involved in FX or CFDs then we recommend that you seek independent professional help or advice before continuing.
14.If you are considering trading in shares in a company that you work for then you should seek legal advice beforehand to ascertain that you are not in breach of any regulations.
15.Margin trading is not necessarily designed to replace existing or traditional methods of investing and is therefore not suited to everyone.