Skip to content TERMS AND CONDITIONS
Cubo Markets Ltd
The provision of Cubo Markets’ services to you is subject to all applicable laws, regulations and other provisions or market practices to which we are subject (collectively, the “applicable regulations”).
If any conflict arises between the terms of the Client Agreement and any applicable regulations, the latter shall prevail.
We are not required to do anything or refrain from doing anything which would infringe any applicable regulations and may do whatever we consider necessary to comply with them.
If any provision of the Client Agreement shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of the Client Agreement which shall remain in full force and effect.
References to the Client Agreement, and any references to other agreements herein, together with any schedules attached thereto, constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior or contemporaneous oral or written communications, proposals, agreements and representations with respect to the subject matter.
Any failure by us (whether continued or not) to insist upon strict compliance with any provision of the Client Agreement shall not constitute nor be deemed to constitute a waiver by us of any of our rights or remedies.
The rights and remedies conferred upon Cubo Markets hereby shall be cumulative and the exercise or waiver of any part thereof shall not preclude or inhibit the exercise of any other additional rights and remedies.
Neither shall any specific waiver or failure to exercise the rights and remedies granted to Cubo Markets by this Agreement at any instance in time be implied or extended to mean non-enforcement of the clause or condition in subject at a later point in time.
No party except Cubo Markets shall, without the prior written consent of the other parties (such consent not to be unreasonably withheld) and except as expressly provided in the Client Agreement, assign, transfer, change or deal in any other manner with the Client Agreement or any of its rights under it.
Cubo Markets reserves the sole right to unilaterally modify the terms of this Agreement and all other terms and conditions applicable to clients at any time without prior notification and assumes no liability for any financial losses, damages, loss of profits, or any other inconvenience or damage incurred by a party to the Client Agreement due to such changes.
It is the sole responsibility of clients to keep themselves updated and aware regarding the terms and conditions of this and all other applicable agreements as may exist at any given point in time.
Cubo Markets may record telephone conversations with you and such recordings may be used in evidence in any dispute arising in connection with any transactions under the Client Agreement.
No person who is not a party to the Client Agreement may enforce any term of the Agreement.
The parties agree that the terms and conditions of the Client Agreement govern the relationship between Cubo Markets and you. No third party is authorised to play any role whatsoever in the governance of the relationship formed by this Agreement, or any agreement or document entered into pursuant to this Agreement, between Cubo Markets and you.
NOTICE CLAUSE
Any notice from Cubo Markets (including without limitation any demand, statement or notification for deposit(s) of additional account equity) under or in connection with these terms and conditions may be:
and made to your:
Notice Validity Conditions
Any notice shall be deemed to have been duly given when received or given as follows, whichever is earlier:
(a) when left at your last known home or work address or registered address;
(b) if given by leaving a telephone answering machine message or voice mail message, one hour after the message being left on the relevant medium;
(c) if sent by first class post, in the ordinary course of the post and in any event on the next day (or third day in the case of air mail) after posting (excluding Sundays and public holidays);
(d) if sent by e-mail, one hour after sending, provided no “not sent” or “not received” message is received from the relevant e-mail provider;
(e) if sent by electronic media (for example on the Cubo Markets Online Trading Platform), one hour after posting.
GOVERNING LAW AND JURISDICTION
This Agreement is governed by the laws of Saint Lucia.
Subject to the dispute resolution and complaints clauses of this Agreement, the courts and arbitration agencies of Saint Lucia will have jurisdiction to settle any disputes which may arise in relation hereto.
For such purposes, you irrevocably submit to the exclusive jurisdiction of the courts of Saint Lucia in relation to any such dispute.
Nothing in this Agreement shall prevent us from bringing proceedings against you in any other jurisdiction.
TERMS OF BUSINESS
1. INTRODUCTION
1.1 Cubo Markets Ltd (“Cubo Markets”, “the Company”, “we” or “us”) is incorporated in Saint Lucia under company registration number 2026-00241, with registered office at Ground Floor, Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia, LC01 101, and operational office at Office 16, 25 Corinth Hilltop, Corinth, Gros-Islet, Saint Lucia, LC01 101.
1.1a Cubo Markets Ltd and various related entities provide sub-services that contribute towards the service provided under this Agreement (as explained in section 2). “Cubo Markets / We / Us” can imply one or all of the entities and their assigns and related entities listed in clauses 1.1 and 1.1a of this Agreement, and any other related or unrelated entity that has been contracted by these entities to service or enforce any part of this Agreement. Your acceptance of the terms of this Agreement implies your written consent to consume the services provided by one or more of these entities, with no waiver of your obligation towards the others.
1.2 These terms and conditions, including the Risk Disclosure Statement, the attached Schedules, and all other disclosures, notifications and policies — including the online security notices, the Cancellation/Termination/Closure Policy, the Privacy Policy, and any other public notification issued on the website, sent to you via email or made known to you via any other form of communication (such as letter, telephone, fax, or forms/questionnaires) — form the agreement between Cubo Markets and you. “The Agreement” shall be interpreted and applied accordingly. The Agreement governs the provision of services by Cubo Markets to you and shall regulate all dealings between Cubo Markets and you. Registering on the website and its continued usage shall signify your unconditional acceptance of the terms of this Agreement and all other policies outlined on the website. Kindly study this Agreement carefully as it contains relevant and crucial information regarding your and Cubo Markets’ rights and obligations in relation to the services we agree to provide you. It is therefore imperative upon you to inform Cubo Markets and seek clarification from us regarding any information contained herein that is not clearly understood by you, prior to the signing of this legally binding contract.
1.3 At Schedule 2 of this Agreement you are provided with a High Risk Investment Notice (“Risk Notice”) in compliance with our client education and risk disclosure practices. This Risk Notice sets out the particular investment risks of investing or dealing in financial market instruments. We will treat your execution of this document as your informed and fully cognizant acknowledgment that you have carefully read and are prepared to accept the risks outlined in the Risk Notice. If there is anything you do not understand, it is recommended that you seek specialist independent financial and/or legal advice, in particular regarding the suitability of investing in financial market instruments.
1.4 This Agreement comes into effect on the date Cubo Markets notifies to you in writing and/or equivalent standard business communication channels — including but not limited to electronic mail or facsimile — and shall supersede any previous agreement between us on the same subject matter. These terms and conditions may be amended from time to time by Cubo Markets and any changes will be notified to you in writing or using communication media as outlined above. All such changes will come into effect three (3) days after you are deemed to have received notification, or at the time you are notified in accordance with the Notice Clause, whichever is earlier. Any changes to these terms and conditions will not apply to transactions opened prior to the date on which the changes become effective. If you do not wish to accept any amendment made by us to these terms and conditions, you may, by notice to Cubo Markets, request to close your open transactions and your Account with us in accordance with these terms and conditions.
1.5 The definitions set out in Schedule 1 to this Agreement shall apply except where the context otherwise requires.
2. SERVICES
2.1 Subject to the terms and conditions of this Agreement and Cubo Markets’ acceptance of your application, the service that you are contracting Cubo Markets to provide is strictly limited to the provision of an online trading service that facilitates your investment and trading activity in financial markets. We will execute transactions that you instruct us to conduct, in global financial markets including, but not limited to, the following general asset markets:
collectively referred to as “Financial Markets” in “on” or “off exchange” transactions (“Over The Counter” or “OTC” markets). Your Account will be opened and maintained with Cubo Markets. Orders received from you in relation to Financial Market transactions will be routed via the Cubo Markets Online Trading Platform for execution. Cubo Markets may act as your counterparty to such executed orders or transactions.
2.2 By executing this document you agree that all orders received by Cubo Markets will be treated as a specific instruction, in accordance with our Best Execution Policy, to execute transactions at the most advantageous terms, subject to prevailing market conditions. You acknowledge that by acting on such specific instructions in the above-outlined manner, Cubo Markets satisfies its obligation to you to take all reasonable steps to obtain the best possible result for you when executing an order.
2.3 You acknowledge and agree, by executing this document, that you have given us your prior express consent to execute your orders outside or inside a regulated market or trading, investment or mercantile exchange, electronic network, or other commercial facility designated for investment transactions purposes, as may be deemed appropriate by Cubo Markets from time to time.
2.4 Cubo Markets will not advise you on the merits or suitability of any transaction entered into pursuant to this Agreement. Cubo Markets will not manage or monitor your investments. You acknowledge that the execution, or arranging the execution, of any order on your behalf does not in any way imply any approval or recommendation of that transaction by Cubo Markets.
2.5 Cubo Markets will arrange for the execution of transactions on your instructions. Cubo Markets may act as principal in transactions that you execute with Cubo Markets such that Cubo Markets shall be your counterparty. You will enter into each transaction with Cubo Markets as principal and not as agent on behalf of someone else unless otherwise agreed in writing by us. We shall be responsible to you alone and shall have no duties or obligations to your underlying customers (if any).
2.6 You acknowledge and agree that, unless otherwise agreed in writing, the terms and conditions contained in this Agreement with regard to the respective rights and liabilities of you and Cubo Markets in relation to any transaction executed under this Agreement shall apply as between you and Cubo Markets.
2.7 You acknowledge and agree that under the terms and conditions applicable to any transaction with Cubo Markets, Cubo Markets has the power to determine amounts payable, specify account equity requirements (where “account equity” and “account deposit” carry the meaning set out in clause 11), set position limits, take default action and close out or revalue contracts or positions in certain circumstances.
3. FEES AND CHARGES
3.1 You shall pay to Cubo Markets such fees, commissions and all other charges as are ratified and accepted by you in accepting this Agreement and any accompanying “Fees and Charges Schedule” published on our website or otherwise communicated to you. Any additional fees, commissions, other charges or costs incurred by us on your behalf shall be notified by Cubo Markets to you from time to time. These will include charges in respect of automatic rollover of your positions pursuant to clause 13. In addition to this, you shall be responsible for the payment of any other charges that may be incurred as a result of the provision of services by Cubo Markets to you. Cubo Markets may share charges with affiliates or other third parties, or receive remuneration from them, in respect of transactions carried out on your behalf.
3.2 Unless otherwise agreed and subject to clause 3.1 above, Cubo Markets shall not charge any additional commission or fee for the execution of transactions. All rates quoted by Cubo Markets will incorporate a spread constituted by the difference between its bid price and offer price for any given Financial Market transaction, which may represent a mark-up or mark-down on the then current rates quoted by an alternative exchange, trading network or regulated or non-regulated entity. Any quoted bid or offer price is not warranted to be within any specific percentage of any prices quoted by an alternative entity, or on an alternative market facilitating such transactions.
3.3 All fees and charges shall be regarded as being due and payable immediately. Any sums due to us pursuant to this clause may be deducted by Cubo Markets from the proceeds of any transaction. In the event of late payment by you, overdue amounts shall bear interest at a commercially reasonable rate as determined by Cubo Markets.
3.4 You agree to pay a transfer fee, as determined by us, in the event that you instruct Cubo Markets to transfer open positions, monies, and/or property relating to your account to another institution.
3.5 If there are no transactions on your account for at least one (1) year, or if your account balance is USD 50.00 (United States Dollars Fifty only) or less, you will be subject to a dormant account fee (the “Fee”), in return for administrative and informational services and/or access provided by Cubo Markets to active accounts. The Fee will be equal to the lesser of the remaining balance in your account or USD 50.00 (United States Dollars Fifty only), as the case may be. Upon assessment of the Fee, your account will automatically be closed.
4. ACCOUNT OPENING
4.1 An account must be opened prior to entering into any transaction with Cubo Markets. No orders can be placed until an account has been opened and cleared funds received. Without prejudice to the foregoing, if Cubo Markets permits you to place an order notwithstanding that an account has not been opened, or cleared funds received, this shall not limit your liability to Cubo Markets pursuant to this Agreement in respect of the order placed. Cubo Markets may, at its absolute discretion, refuse to accept you as a client for whatever reason but will notify you of any such refusal, without giving any reasons, promptly following your application.
4.2 To assess your creditworthiness, manage credit risk and to prevent fraud (or other criminal activity) you acknowledge and agree that Cubo Markets or agents acting on Cubo Markets’ behalf may:
(a) make periodic searches and enquiries about you and any related party at credit reference agencies and your employers, if applicable;
(b) disclose information to organisations involved in fraud prevention; and
(c) investigate any current and past investment activity and obtain information in connection therewith, and disclose information to other dealers or investment managers which deal in or manage investments for clients concerning any payment or security default, or concerning any investment which is related to or connected with investment products which you seek to deal in with Cubo Markets.
4.3 Upon reasonable request made in writing by you to Cubo Markets, you shall be allowed to review any records maintained by Cubo Markets relating to your credit standing. In addition, you shall also be allowed and entitled, solely at your own cost and expense, to copy such records.
5. INSTRUCTIONS
5.1 Unless otherwise agreed by Cubo Markets, all orders for execution of transactions between you and Cubo Markets must be given to us electronically through the Cubo Markets Online Trading Platform or by telephone through the Cubo Markets dealing desk(s) at designated numbers as shall be provided to you after the opening of the account, or such other designated number as may be notified to you from time to time.
Communication of Orders
5.2 A transaction order may be submitted by you using the telephone. Orders over the telephone will only be accepted by Cubo Markets during specified hours which will be notified to you from time to time. Cubo Markets may impose more restrictive time limits on when orders may be placed. When you place an order by telephone, you can do so only by talking directly to a broker. No messages may be left, and no orders may be placed using Cubo Markets’ answer phone or voicemail facilities, or by facsimile. All telephone calls are recorded for the purposes of fraud prevention and quality control, and by agreeing to these terms and conditions you agree to the recording of such telephone conversations.
5.3 Any order to execute a transaction given to Cubo Markets shall not take effect unless actually received by Cubo Markets. Cubo Markets shall be entitled to act on your behalf upon instruction given or purporting to be given by you or any other person on your behalf without further enquiry as to the genuineness, authority or identity of any such person giving or purporting to give such instructions. The protection of sensitive details related to your account (such as account number, login, password or other similar access and operational details) shall be your sole responsibility. Cubo Markets does not accept any liability whatsoever arising out of the misuse or compromising of such details to any outside party or any malicious use arising therefrom.
5.4 Cubo Markets may, at its discretion, refuse to accept any order from you but will notify you of any such refusal, without giving any reasons, promptly following receipt of your instructions. Cubo Markets may cancel any instructions previously given by you provided that we have not acted on your instructions. Acceptance of your order will be evidenced by Cubo Markets’ confirmation of that order.
6. APPROPRIATENESS
6.1 Before accepting any order, we will record your investment knowledge and experience in the investment field relevant to you and your appetite for, or tolerance of, risk.
6.2 On the basis of this information and in accordance with the applicable rules, we will assess whether proposed investment transactions are appropriate for you. We will not be able to take your borrowings or any leverage facilities offered by us into account in assessing your investment risk appetite or capacity. You should be aware that using any leverage offered by us may dramatically increase the risk of investments, particularly where large positions can be taken with reliance on a small amount of usable account deposit, as is common when dealing in Financial Market investments as offered by Cubo Markets. Based on your role as a Client, we will make certain assumptions about the appropriateness of the service provided, and we are entitled to assume that you have the requisite knowledge and experience in the relevant investment field. If you do not consider this to be the case, you must make us aware of this prior to the provision of the service and provide us with any available information as to the level of your knowledge and experience. It is your responsibility to inform us in writing of any information which might reasonably indicate that this assessment should be changed.
7. DEALING AND EXECUTION
7.1 The Cubo Markets Online Trading Platform and the Cubo Markets dealing desk(s) will quote “bid” and “offer” prices for any given market or instrument the client is intending to trade. The prices quoted are determined by Cubo Markets and usually represent a mark-up or mark-down of rates available from alternative entities (including but not limited to exchanges, banks, other regulated or unregulated financial institutions). Please note that the service provided under this Agreement is restricted to executing transactions at the quoted prices upon your specific instructions, as more particularly set out in clause 2.2.
7.2 Details of our Execution Policy are available in a separate document upon request. We will execute orders in accordance with that policy (as amended from time to time). If you place an order with us to execute a transaction for you after the opening of an account, that shall be construed as complete acceptance of our Execution Policy and you will be deemed to have agreed to it in its entirety. In case of any reservations or doubts about the details of our Execution Policy, it is imperative upon you to reconcile with or communicate your differences to Cubo Markets at the earliest. Continuation of account activity shall be a complete acceptance of our Execution Policy.
7.3 We may aggregate orders with those of any affiliate or other clients provided that we reasonably conclude at the outset that it is unlikely that such aggregation will disadvantage you or any other client. However, such aggregation may on some occasions operate to your disadvantage and on other occasions to your advantage. By agreeing to these Terms of Business you agree that we may aggregate orders in this way and acknowledge that in some cases this may result in you obtaining a less favourable result than would otherwise be the case, and vice versa in other cases.
7.4 Cubo Markets may require you to limit the number of open positions which you may have with us at any time and we may, at our sole discretion, close out any one or more transactions in order to ensure that such position limits are maintained.
8. ONLINE ACCESS
Access Information and Details
8.1 In order to use the Cubo Markets Online Trading Platform you will need a username and password for online electronic access to your account from Cubo Markets. You will need to provide the username and password each time you wish to use the Online Trading Platform.
8.2 In relation to the username and password, you acknowledge and undertake that:
(a) you will be responsible for the confidentiality and use of your username and password;
(b) other than with our prior written consent, you will not disclose your username or password to persons other than your Authorised Representatives for any purpose whatsoever;
(c) Cubo Markets may rely on all instructions, orders and other communications entered using your username and password, and you will be bound by any transaction entered into or expense incurred on your behalf in reliance on such instructions, orders and other communications; and
(d) you will immediately notify us if you become aware of the loss, theft or disclosure to any third party, or of any unauthorised use, of your username or password.
8.3 If Cubo Markets believes that your username or password is being used without your knowledge by unauthorised persons, we may without prior notice suspend your rights to use the Online Trading Platform. Further, if Cubo Markets believes that you have supplied your username or password to other persons in breach of clause 8.2(b), then we may terminate this Agreement forthwith.
Cubo Markets Online Trading Platform
8.4 Access to the Cubo Markets Online Trading Platform is provided “as is”. Cubo Markets makes no performance claims, warranties, express or implied, representations, or guarantees as to the merchantability, fitness for any particular purpose or otherwise with respect to the Cubo Markets Online Trading Platform, its content, any documentation or any hardware or software provided. Technical difficulties could be encountered in connection with the trading platform. These difficulties could involve, among others, failures, delays, malfunction, software erosion or hardware damage, which difficulties could be the result of hardware, software or communication link inadequacies or other causes. Such difficulties could lead to possible economic, monetary and/or data loss. In no event will Cubo Markets or its affiliates or any of their employees be liable for any possible loss (including loss of profit or revenue of any sort whatsoever), cost or damage including, without limitation, consequential, unforeseeable, special or indirect damages or expense which might occur as a result of, or arising out of, using, accessing, installing, maintaining, modifying, deactivating or attempting to access the online trading platform or otherwise.
Execution Errors
8.5 All orders executed by Cubo Markets should be displayed on the Cubo Markets Online Trading Platform. Any failure or delay in any order being displayed on the trading platform shall not affect the validity of the order. If Cubo Markets has executed an order, but it is not displayed, it is solely your responsibility to make further enquiry into the same to obtain confirmation of the execution of the order. Any failure or delay by you in contacting Cubo Markets shall not affect the validity of any order. Once an order has been executed, you shall be deemed to have entered into a corresponding contract with Cubo Markets whether or not the corresponding order is displayed on the Cubo Markets Online Trading Platform.
8.6 If you incorrectly or erroneously submit an order which is executed, you shall notify Cubo Markets of the error immediately upon becoming aware of it. You shall also notify Cubo Markets at the same time whether you require Cubo Markets, in respect of the error trade, to either:
(a) maintain the contract in your name with Cubo Markets in the same size and at the same price as the executed order; or
(b) reverse the executed order.
Where you request us to reverse the order in accordance with (b) above, Cubo Markets shall, at its absolute discretion, do so as reasonably practicable. Cubo Markets will, when making a determination as to whether it will reverse the executed order referred to in (b) above, act fairly towards you but shall in no circumstances, except for its own fraud or wilful default, be liable to you for any loss, cost, claim, demand or expense you may suffer (including loss of profits or any indirect or consequential losses) resulting from its decision to reverse the executed order.
Note: execution errors occurring on the system, not reported or noticed by the Client or the Company, do not constitute a valid transaction until the time such a transaction has been confirmed in writing, subject to (a) the error being such that can be publicly demonstrated to represent inaccurate order or transaction information including but not limited to incorrect market prices at the time of the transaction, incorrect trading quantity, incorrect account, transaction or order numbers, insufficient available funds in the account for such a transaction should the system be working correctly, and any other material and constituent information that affects the very validity of a market transaction; or (b) it can be reasonably demonstrated that the said transaction was conducted outside the regular purview of the trading platform, including but not limited to instruments not listed on the platform at the time of the transaction, the underlying market not being available for transactions, being affected by circumstances that render it inaccessible or unusable, client accounts that may not be fully activated and/or be suspended or incapacitated for any operational reasons, and any other impeding circumstance(s) that require secondary verification and confirmation from the Company as to their veracity and completeness.
In the event that such a transaction is not reported by a client or brought to the notice of the Company by the client and/or any other related or unrelated party, the Company shall have full and complete discretion over the handling of such a transaction, order or trade that may have been placed on the Cubo Markets Online Trading Platform. The Company accepts no liability whatsoever arising out of such unnoticed or unreported errors, and no claims towards any profits lost, losses incurred or loss of opportunity shall arise whatsoever. The Company shall act in a fair and responsible manner in any and all such instances and its discretion in such cases shall be final. The Company shall notify a client via email, telephone, fax or any other means of communication that allow access to the client. Notifications shall be deemed received at the date and time they have been dispatched. It is the responsibility of clients to maintain accurate and updated contact information with the Company at all times, and the Company accepts no liability should the client be unreachable for any reason whatsoever. Any execution errors discovered shall be corrected by the Company at a time considered appropriate according to its internal considerations, and no liability shall arise out of any delayed or retrospective corrections, subject to such correction being valid and fair as defined in the aforesaid clause. The client accepts completely and unconditionally their full responsibility and commitment to reporting any errors discovered, and the corrective measures applied by the Company in the resolution of any such errors.
Internet Failures
8.7 Since Cubo Markets does not control signal power, its reception or routing via the Internet, configuration of your equipment or reliability of its connection, Cubo Markets shall not be held responsible for communication failures, distortions or delays when using the Cubo Markets Online Trading Platform.
Market Risks and Online Trading
8.8 Investing or trading in any and all Financial Markets involves substantial risk that is not suitable for everyone. Investing or trading online, no matter how convenient or efficient, does not alter the nature of the risks associated with such investments in any way whatsoever.
Use of the Cubo Markets Online Trading Platform
8.9 Your access to and your use of the Cubo Markets Online Trading Platform are expressly subject to your compliance with the terms of (a) this Agreement and (b) any and all guidelines for using the Cubo Markets Online Trading Platform posted on or communicated through the Cubo Markets Online Trading Platform (as amended from time to time) and including any Cubo Markets Privacy Policy (as it may be amended from time to time), collectively being referred to as the “Operating Procedures”. In the event of any inconsistency between this Agreement and the Operating Procedures, the Operating Procedures shall prevail. Cubo Markets shall have the right, at any time, to amend the provisions of the Operating Procedures upon three (3) days’ prior notice by posting on or through the Cubo Markets Online Trading Platform or by any other standard means of communication including but not limited to electronic mail, telephonic intimation or via any other standardised and accepted medium of communication. However, any amendment to the Operating Procedures may be made effective immediately, where appropriate in our determination, (a) to permit the trading platform or trading activity conducted through the trading platform to comply with any applicable laws, rules, regulations or judgments, orders or similar; or (b) to facilitate the continued and proper operation of the Cubo Markets Online Trading Platform without performance interruption or degradation.
8.10 You acknowledge that we shall have sole discretion and control over, and the right to modify at any time, the Cubo Markets Online Trading Platform and its functionality, configuration, appearance and content, including without limitation:
(a) the parameters and methods by which orders are placed, routed, marketed or otherwise processed by the Cubo Markets Online Trading Platform; and
(b) the availability of the Cubo Markets Online Trading Platform to any user or with respect to any particular Financial Market product, instrument, security or related offering thereof, or transactions at any particular places, times or locations.
Intellectual Property Rights
8.11 You acknowledge and agree that Cubo Markets is the sole owner (except to the extent owned by third-party licensors and except to the limited extent licensed by Cubo Markets to any other institutions and their related stakeholders) of all right, title and interest (collectively the “IP Rights”) in and to the Cubo Markets Online Trading Platform, the data and other information generated by the trading platform (“Data”) produced by and distributed by or through the Cubo Markets Online Trading Platform and each component thereof, and all intellectual property and proprietary rights with respect thereto, including, without limitation, patent, copyright, trade secret, trademark and other proprietary rights in and to the Cubo Markets Online Trading Platform and each component thereof, and to all modifications, including custom modifications, to the trading platform and each component thereof, whether made by or with the assistance of you and any other person, and any know-how, techniques, methodologies, equipment or processes used by Cubo Markets, the look and feel of the trading platform and each component thereof, and all of Cubo Markets’ software (front and back end), all registered trademark applications, trademarks and service marks, trade names, URL registrations and all pricing information and other Data.
8.12 You shall not obtain any intellectual property rights in or to the IP Rights.
9. CONFIRMATIONS
9.1 Cubo Markets will provide you a confirmation following the execution of a transaction for your account. Confirmations shall be deemed to be conclusive and binding on you if not objected to immediately upon receipt and confirmed in writing within one (1) business day after dispatch.
9.2 Cubo Markets will provide you account statements containing adequate information on the value and composition of your account as at the end of the period covered by the statement. Confirmation shall be deemed to be conclusive and binding on you if not objected to immediately upon receipt and confirmed in writing within one (1) business day after dispatch.
9.3 Cubo Markets may post confirmations online, which you will be able to access using the trading platform. Cubo Markets will post details of your account activity online and you will be able to generate daily, monthly and yearly reports of account activity, as well as a report of each executed trade. Updated account information will be available no more than twenty-four (24) hours after any activity takes place on your account. Posting of account information on your online account will be deemed delivery of confirmation and account statements. Account information will include trade confirmations with ticket numbers, purchase and sale rates, used deposit, spare deposit available for further transactions, statements of profits and losses, as well as current open or pending positions, and any other information as required by standard “business best practice” norms. Please notify us if you wish to receive confirmations in hard copy or by email rather than through the Online Trading Platform.
10. CONSENT TO ELECTRONIC COMMUNICATION
Your acceptance of this Agreement constitutes your prior express consent to communications to you electronically on screen, mail form, via e-mail, fax, and telephone or by other means at the sole discretion of Cubo Markets. If you no longer wish to communicate in this way, you must revoke this consent in writing. If you do not wish to communicate via electronic media at all, you must inform us of your wishes prior to your acceptance of this document.
11. ACCOUNT EQUITY AND COLLATERAL
“Account Equity” or “Equity” in the context of this Agreement shall be interpreted to expressly be defined as follows: Account Deposit in client account, plus any realised or yet-to-be-realised profits on closed or open positions, less any realised or yet-to-be-realised loss on closed or open positions, less any pending charges, commissions, fees or payables to Cubo Markets by the client with reference to the subject account.
11.1 You shall provide to and maintain with Cubo Markets as counterparty, as applicable, account equity in such amounts and in such forms as Cubo Markets, in its sole discretion, may require. Cubo Markets may change the equity requirements at any time, based on general market conditions or specific circumstances affecting individual or a group of markets, individual and specific circumstances associated with the client account and the account activity, in addition to but not limited to any regulatory or legal requirement(s) to effect any changes as those outlined above.
11.2 Any demand for additional account deposits into the client account must be expressly satisfied within such time as may be specified by Cubo Markets. Deposits may be provided in the form of cash or, if we otherwise agree, other collateral (by which we mean investments or any other property or assets acceptable to us in lieu of cash).
11.3 Cubo Markets shall have the right to pledge, charge, loan or otherwise use or dispose of all or part of the client account deposit or other property provided to us as if Cubo Markets is the beneficial owner thereof. You agree that, provided the investments returned to you are of the same description and amount as those used as security or collateral, they need not be the actual investments held by you.
11.4 You are responsible for maintaining appropriate arrangements with us at all times for the communication of calls, demands or notifications for additional deposit requirement(s) in your account with us. In the event of Cubo Markets being unable to contact you, or if you fail to meet the demands for additional deposit(s) into your account within the required time, Cubo Markets will be entitled to exercise our rights in accordance with clauses 20 to 23 below.
11.5 Cubo Markets may at any time notify you that, unless you deposit into your account(s) such additional funds as sufficient to meet our minimum applicable account equity requirements for your account and its constituent positions, we may liquidate any or all open positions. Once issued, you must comply in full with such notification(s) regardless of any fluctuations in the values of the open positions, and irrespective of any recovery in the market value of the subject account or positions. You may not increase or establish any new open positions during the period of such notification(s) as above, until the demand for additional funding into the client account has been complied with in a complete and satisfactory fashion.
11.6 Your account equity does not represent the total extent of your financial liability to Cubo Markets, as you are liable for all losses in respect of any transactions and any other costs or payments due under these terms and conditions. Further, you acknowledge and agree that any waiver of additional account deposit notifications, demands or calls, or failure to demand, call or notify the need for additional deposit requirement(s) in your account, cannot be relied upon or treated as an act, omission or representation as to the current value of any of your open position(s) with Cubo Markets, or an approval in any manner whatsoever of the account equity sufficiency, or the grant of an exception to clauses 11.1 to 11.5.
12. SECURITY
12.1 All funds, securities, currencies and other property belonging to you which Cubo Markets or its affiliates may at any time be holding for you (either individually, jointly with another, or as a guarantor of the account of any other person), or which may at any time be in their possession or control or carried on their books for any purpose, including safekeeping, are to be held by them as security and subject to a general lien and right of set-off for any of your liabilities to them under this Agreement, whether or not they have made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts you may have with them. Cubo Markets and/or its affiliates may, in their discretion and without notice to you, apply and/or transfer any or all funds or other property belonging to you between any of your accounts with Cubo Markets.
12.2 You hereby also grant to Cubo Markets the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other customers, to Cubo Markets as broker or to others, any securities or other property belonging to you which is held by us as collateral or security deposit(s).
13. SETTLEMENT DATE, ROLLOVER AND OFFSET INSTRUCTIONS
13.1 Cubo Markets will automatically rollover all open positions which are subject to daily settlement on your account to the following business or settlement day, unless you notify us to close your position(s) prior to 5:00 p.m. (Eastern Standard Time). Cubo Markets will charge you a fee in respect of each such position that is rolled over.
13.2 Offset instructions on open positions open prior to settlement arriving at settlement date must be given to us at least one (1) business day prior to settlement date.
13.3 In the absence of timely instructions from you, Cubo Markets is authorised, at its absolute discretion, to rollover, offset or liquidate all or any portion of the open positions in your account(s), or to make or receive delivery on your behalf upon such terms and by such methods deemed reasonable by Cubo Markets, with the costs of any such transactions being charged to your account as per the costs incurred by us on account of your positions, settled by any or all the methods outlined above, without limiting our right to close out any open positions by any other alternative method(s) and charging the costs of the same to your account.
13.4 For the avoidance of doubt, Cubo Markets will not arrange delivery of assets in which positions are held unless Cubo Markets deems necessary pursuant to clause 13.3, or if we otherwise agree in writing with you.
13.5 All transactions executed and positions held with Cubo Markets in the “settlement in cash only” assets and markets segment will be settled by credit or debit to your Cubo Markets account in the currency of that account on the designated settlement or last trading day dates.
14. CLIENT MONEY
14.1 Unless otherwise notified by Cubo Markets, your money will be held by Cubo Markets as client money. Your funds will therefore be held in an account at an Approved Bank duly licensed and regulated by the regulatory institutions responsible for banking oversight and regulation in the relevant jurisdiction.
14.2 Cubo Markets may hold client money on your behalf with an Approved Bank in a client money bank account located outside Saint Lucia, or in more than one banking jurisdiction simultaneously, or pass money held on your behalf to an intermediate broker, settlement agent or counterparty located outside Saint Lucia. The legal and regulatory regime applying to any such Approved Bank or person will be different from that of Saint Lucia, and in the event of the insolvency or any other equivalent failure of the Approved Bank or such person, your money may be treated differently from the treatment which would apply if the money was held in Saint Lucia. While we shall voluntarily make every prudent effort to evaluate the suitability of such placements with an institution or entity prior to the placement of funds in their custody, Cubo Markets shall not be liable for the solvency, acts or omissions of any third party referred to in this clause.
14.3 Unless otherwise agreed in writing, Cubo Markets shall not pay you interest, nor account to you for profits earned, on client money.
14.4 If you owe us any money under this Agreement, Cubo Markets shall on the day it becomes due and payable cease to treat as client monies so much of the money held on your part as equals the amount so due and payable. We may apply that money in or towards satisfaction of all or part of those obligations due and payable to us.
14.5 Any surplus on a sale or closing out under this Agreement after exercising our rights under this Agreement belongs to you and we shall treat it as client money. Accordingly, if we default while still holding it, it will be pooled with our other client money for the benefit of all our customers and you will share rateably with them in the pool.
14.6 All money transfer transactions that occur between Cubo Markets (including any and all associated entities and assigns as outlined in clause 1.1a) and you, via any online or offline mode of transaction including but not limited to cards (debit or credit), online payment wallets, pre-loaded cards, SWIFT transfers or any other mode of electronic or non-electronic movement of money or assets, are conducted solely for the purpose of funding and operating your self-owned and self-directed trading or investment account with Cubo Markets. You hereby agree and unconditionally confirm that no monetary transaction is, will or shall be conducted between Cubo Markets and yourself for any purpose other than funding your own, self-directed investment or trading account, and you shall not make any representations to the contrary. It is your sole responsibility to use any payment method offered on the website or any part thereof, with full consideration of your actions and their financial implications. Funding transactions done to add money into your account held with Cubo Markets cannot be cancelled or disputed. If you no longer wish to continue your investment and/or trading activity with us, you unconditionally agree to do so only by requesting your available funds (if any) to be remitted back to you via a withdrawal request. If you need help to submit a withdrawal request, you can ask us for assistance by contacting us at [email protected] or by following the process outlined in clause 24 of this Agreement and the Cancellation/Termination/Closure Policy outlined on the website.
Please note: requesting a withdrawal does not absolve you of any costs, losses or liabilities incurred by you due to your trading and investment activity, until the time that all investment and trading activity has completely stopped in your account. You are liable to settle all such liabilities prior to the completion of your withdrawal request, with the funds available after settlement of all liabilities and costs being your available funds that you may request to be remitted back to you.
15. CURRENCY FLUCTUATIONS
15.1 If you direct Cubo Markets to enter into any currency transaction:
(a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for your account and risk;
(b) all initial and subsequent deposit(s) for purpose(s) of initiating new or continuing to hold an open position(s) shall be made in any denomination accepted by Cubo Markets, in such amounts as Cubo Markets may in their sole discretion require; and
(c) Cubo Markets is authorised to convert funds in your account for fulfilling or satisfying any supplementary account equity requirements into and from such foreign currency at a rate of exchange determined by Cubo Markets on the basis of the then prevailing foreign exchange conversion rates. In such circumstances, Cubo Markets will not be liable to you for any loss suffered by you as a result of such action (although Cubo Markets will use reasonable efforts to only convert such funds as may prudently be required to cover the position in respect of the relevant transaction).
15.2 If Cubo Markets receives or recovers any amount in respect of any of your obligations in a currency other than that in which such amount was payable, whether pursuant to a judgment of any court or otherwise, you will indemnify Cubo Markets and hold Cubo Markets harmless from and against any cost (including costs of conversion) and loss suffered by Cubo Markets as a result of receiving such amount in a currency other than the currency in which it was due.
16. CONFLICTS OF INTEREST
16.1 We are required to have arrangements in place to manage conflicts of interest between us and our clients, and between different clients, arising out of our role in multiple front, middle and back office capabilities. We operate in accordance with a conflicts of interest policy we have put in place for this purpose, under which we have identified those situations in which there may be a conflict of interest, and in each case, the steps we have taken to manage that conflict. Further details of this will be provided on request.
17. LIABILITY AND INDEMNITY
17.1 Neither Cubo Markets, their affiliates, nor any of their directors, officers, employees and agents shall be liable for any loss or damage (including direct, indirect, incidental, punitive, special or consequential loss, loss of profits, lost data, loss of use of the Cubo Markets Online Trading Platform, business interruption, loss of business reputation or goodwill, costs of substitute services or downtime costs) suffered by you or any other person (regardless of whether you or any other person have been informed of the possibility of such losses, damages, costs or expenses) in connection with the provision of any services to which this Agreement applies, except to the extent that such loss or damage results directly from negligence, fraud or wilful default by Cubo Markets. Additionally, you agree to indemnify and hold Cubo Markets, its affiliates, employees, agents, successors and assigns harmless from and against all liabilities, losses, damages, costs and expenses, including attorneys’ fees, resulting from use of programmable trading systems, whether built by you yourself or by any third party and executed on or using the Cubo Markets Online Trading Platform or any other trading platform offered by Cubo Markets.
17.2 Neither Cubo Markets, their affiliates, nor any of their directors, officers, employees and agents shall be responsible for any loss or damage caused by any events, actions or omissions beyond our control including, without limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission, execution or confirmation of orders or transactions and/or information due to a breakdown in or failure of any transmission or communication facilities or relating to any software, any technology, any equipment, or the Cubo Markets Online Trading Platform.
17.3 Further, any losses, loss of profits, direct or indirect costs incurred by you on account of such encumbrances, obstacles, limitations, delays or errors that are caused by conditions beyond the direct purview of Cubo Markets — including without limitation unusual market conditions or an operating environment that limits the ability of Cubo Markets to service its obligations to you in a satisfactory fashion — shall not be the liability of Cubo Markets in any degree whatsoever.
17.4 You acknowledge that:
(i) any market information or third-party recommendations communicated to you (if at all) by Cubo Markets or any affiliate does not constitute advice, solicitation or an offer to buy, sell or transact in any investment;
(ii) such information or recommendations, although based upon information obtained from sources believed by Cubo Markets to be reliable, may be based solely on a third party’s opinion and that such information may be incomplete and may be unverified;
(iii) you or any other person have not relied upon any representation or warranty made by Cubo Markets or its affiliates, except as specifically set forth in this Agreement;
(iv) any reliance upon any content of the Cubo Markets Online Trading Platform shall be at your sole and exclusive risk;
(v) we make no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information furnished to you. You acknowledge that Cubo Markets makes no representations concerning the tax implications or treatment of contracts entered into by you.
Manifest Errors
17.5 A “Manifest Error” means a manifest or obvious misquote by Cubo Markets having regard to the current market conditions at the time an order is placed. When determining whether a situation amounts to a Manifest Error, Cubo Markets may take into account all information in its possession including, without limitation, information concerning all relevant market conditions, any error in, or lack of clarity of, any information source or announcement.
17.6 Cubo Markets will, when making a determination as to whether a situation amounts to a Manifest Error, act fairly towards you, but the fact that you may have entered into, or refrained from entering into, a corresponding financial commitment in reliance on an order placed with Cubo Markets (or that you have suffered any loss of profit, consequential or indirect loss) shall not be taken into account by us in determining whether there has been a Manifest Error. Cubo Markets reserves the right to void any transaction resulting from or deriving from a Manifest Error with the effect that it shall be deemed never to have been opened, or to amend the details of such a transaction to reflect what Cubo Markets considers in its sole discretion, acting in good faith, to be the correct or fair terms for such a transaction absent such Manifest Error.
17.7 Cubo Markets shall in no circumstances, except for its own fraud or wilful default, be liable to you for any loss, cost, claim, demand or expense you may suffer (including loss of profits or any indirect or consequential losses) resulting from a Manifest Error.
Arbitrage
17.8 Internet, connectivity delays, and price feed errors sometimes create a situation where the prices displayed on the Cubo Markets Online Trading Platform do not accurately reflect the market rates. The concept of arbitrage and “scalping”, or taking advantage of these Internet delays, cannot exist in an OTC market where the client is buying or selling directly from the market maker. Cubo Markets does not permit the practice of arbitrage on the Cubo Markets Online Trading Platform. Transactions that rely on price latency arbitrage opportunities may be revoked. Cubo Markets reserves the right to make the necessary corrections or adjustments on the account involved. Accounts that rely on arbitrage strategies may, at our sole discretion, be subject to Cubo Markets’ intervention and Cubo Markets’ approval of any orders. Any dispute arising from such quoting or execution errors will be resolved by Cubo Markets in its sole and absolute discretion.
17.9 Cubo Markets shall have no obligation to contact you to advise upon appropriate action in light of changes in market conditions or otherwise. You acknowledge that Financial Markets are highly speculative and volatile and that, following execution of any transaction, you are solely responsible for making and maintaining contact with Cubo Markets for the purpose of monitoring the position and ensuring that any further instructions are given on a timely basis. In the event of any failure to do so, Cubo Markets can give no assurance that it will be possible for them to contact you, and we accept no liability for loss alleged to be suffered as a result of any failure by you to do so.
17.9(b) You agree to indemnify and hold Cubo Markets, their affiliates, and any of their directors, officers, employees and agents harmless from and against any and all liabilities, losses, damages, costs and expenses, including legal fees, incurred in connection with the provision of the services under this Agreement to you, provided that any such liabilities, losses, damages, costs and expenses have not arisen from our negligence, fraud or wilful default.
18. REPRESENTATIONS AND WARRANTIES
18.1 You represent and warrant that:
(a) you are of sound mind, legal age and legal competence;
(b) no person other than you has or will have an interest in your account(s);
(c) regardless of any subsequent determination to the contrary, you are suitable to trade or invest in Financial Markets and that you are aware of the risks involved with such transactions;
(d) you shall comply with all applicable laws.
18.2 You represent and warrant that the information disclosed in the Client Information Form (including any financial information) is true, accurate and complete in all material respects. You must notify Cubo Markets immediately of any changes to any information you have provided to Cubo Markets.
19. CONFIDENTIALITY AND DATA PROTECTION
19.1 Cubo Markets will treat all information about you as private and confidential. Our processing of your personal data is governed by the Cubo Markets Privacy Policy, which is incorporated into this Agreement by reference. We will not disclose any information relating to you to others except:
(a) to the extent required by any applicable laws or regulations;
(b) where there is a duty to the public to disclose;
(c) where Cubo Markets’ interests require disclosure; or
(d) at your request or with your consent.
19.2 All personal information about you that we acquire may be stored (by electronic and other means) and used by us as described in our Privacy Policy, including: enabling us to provide services to you; responding to requests for information from you; following up with you after you request information; statistical, market and product analysis purposes; developing and improving the products and services we provide; administrative and compliance purposes; crime prevention and detection; preventing or detecting abuse of our services; enforcing our terms and conditions; and contacting you about products or services that we think may be of interest to you.
19.3 Data may be transferred to, and stored and processed in, other countries (including countries which do not offer “adequate protection”) for any purpose related to the operation of your account. Such purposes include but are not limited to processing of instructions and generation of confirmations, the operation of control systems, the operation of management information systems, and allowing staff of affiliates who share responsibility for managing your relationship from other offices to view information about you.
19.4 Before doing so, we will put contractual arrangements in place to ensure the adequate protection of your information, and we shall endeavour to ensure that any such contractual arrangements comply with widely accepted “business best practice” standards related to the protection of individual and corporate privacy and confidentiality.
19.5 We have security procedures covering the storage and disclosure of your personal information to prevent unauthorised access and to comply with our legal obligations.
19.6 You are entitled to ask us for details of the personal information that we hold about you, the purposes for which they are being or are to be processed, and the recipients or classes of recipients to whom they are or may be disclosed. If you would like to request this information, please contact us at [email protected]. We may charge a fee for providing this information to you (details of which are available upon request). If you make a written request to us, we will also correct, delete and/or block personal information from further processing if that information proves to be inaccurate.
19.7 Data may also become subject to the legal disclosure requirements of other countries.
20. EVENTS OF DEFAULT
20.1 If at any time:
(a) you fail to comply fully and immediately with any obligation to make any payment or to make or take delivery of any property when due to or required by Cubo Markets;
(b) you make default in any other obligation or commit any breach of any other obligations under this Agreement (including any transaction governed by this Agreement) and including but not limited to any call for additional deposits to meet account equity requirements;
(c) any representation or warranty made by you was, has become, or subsequently would, if repeated at any time, be incorrect;
(d) at any time due to market fluctuations or for any other reason we shall in our absolute discretion consider that we hold insufficient account equity or determine that any security held by us to protect one or more of your account(s) is inadequate, regardless of current market quotations;
(e) Cubo Markets, acting in its absolute discretion, determines that there is or has been an adverse change in the creditworthiness of any party providing a guarantee and/or indemnity in respect of your obligations under this Agreement;
(f) we consider it necessary or desirable to prevent what is considered to be or might be a violation of any applicable laws or regulations or good standard of market practice;
(g) you commence a voluntary case or other procedure seeking or proposing liquidation, reorganisation, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including any corporate or other law with potential application to you, if insolvent), or seeking the appointment of a trustee, receiver, liquidator, conservator, administrator, custodian or other similar official (each an “Insolvency Officer”) of you or any substantial part of your assets; or if you take any corporate action to authorise any of the foregoing; and, in the case of a reorganisation, arrangement or composition, we do not consent to the proposals;
(h) an involuntary case or other procedure is commenced against you seeking or proposing liquidation, reorganisation, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law, or seeking the appointment of an Insolvency Officer of you or any substantial part of your assets;
(i) you die, become of unsound mind, are unable to pay your debts as they fall due, or are bankrupt or insolvent, as defined under any bankruptcy or insolvency law applicable to you; or any indebtedness of yours is not paid on the due date therefor or becomes, or becomes capable at any time of being declared, due and payable under agreements or instruments evidencing such indebtedness before it would otherwise have been due and payable; or any suit, action or other proceedings relating to this Agreement (“Proceedings”) are commenced for any execution, any attachment or garnishment, or distress against, or an encumbrancer takes possession of, the whole or any part of your property, undertaking or assets (tangible and intangible);
(j) you or any Credit Support Provider (or any Insolvency Officer acting on behalf of either of you) disaffirms, disclaims or repudiates any obligation under this Agreement or any guarantee, hypothecation agreement, margin or security agreement or document, or any other document containing an obligation of a third party (“Credit Support Provider”), or of you, in favour of us supporting any of your obligations under this Agreement (individually a “Credit Support Document”);
(k) you are dissolved, or, if your capacity or existence is dependent upon a record in a formal register, the registration is removed or ends, or any procedures are commenced seeking or proposing your dissolution, removal from such a register, or the ending of such a registration;
(l) any Credit Support Provider fails to comply with or perform any agreement or obligation to be complied with or performed by you or it in accordance with the applicable Credit Support Document;
(m) any Credit Support Document expires or ceases to be in full force and effect prior to the satisfaction of all your obligations under this Agreement, unless otherwise agreed in writing by us;
(n) any representation or warranty made or given or deemed made or given by any Credit Support Provider pursuant to any Credit Support Document proves to have been false or misleading in any material respect as at the time it was made or given or deemed made or given, or any event referred to in clause 20.1(g) to 20.1(i) or 20.1(k) occurs in respect of any Credit Support Provider;
(o) where you or your Credit Support Provider is a partnership, any of the events referred to in clause 20.1(g) to 20.1(i) or 20.1(k) occurs in respect of one or more of your or its partners;
then we may exercise our rights under clause 21.1, except that if Automatic Termination applies then in the case of the occurrence of any Event of Default specified in clause 20.1(g) or 20.1(h) (each a “Bankruptcy Default”), the provisions of clause 21.2 shall apply.
21. TERMINATION FOLLOWING AN EVENT OF DEFAULT
Termination on Notice
21.1 Subject to clause 21.2, at any time following the occurrence of an Event of Default, Cubo Markets may, by notice to you, specify a day on which Cubo Markets will commence the termination and liquidation of open transactions executed under this Agreement, or if such a termination and liquidation commences automatically (the “Liquidation Date”), for the termination and liquidation of transactions in accordance with the provisions of clause 22.
Automatic Termination
21.2 Unless we specify otherwise, the date of the occurrence of any Bankruptcy Default shall automatically constitute a Liquidation Date (“Automatic Termination”), without the need for any notice by us and the provisions of clause 22 shall then apply.
22. NETTING
22.1 Upon the occurrence of a Liquidation Date:
(a) neither Cubo Markets nor you shall be obliged to make any further payments or deliveries under any transactions which would, but for this clause, have fallen due for performance on or after the Liquidation Date, and such obligations shall be satisfied by settlement (whether by payment, set-off or otherwise) of the Liquidation Amount;
(b) Cubo Markets shall (on, or as soon as reasonably practicable after, the Liquidation Date) determine (discounting if appropriate), in respect of each transaction referred to in clause 22.1(a), its total cost, loss or, as the case may be, gain, in each case expressed in the currency specified by us (“Base Currency”) (and, if appropriate, including any loss of bargain, cost of funding or, without duplication, cost, loss or, as the case may be, gain as a result of the termination, liquidation, obtaining, performing or re-establishing of any hedge or related trading position) as a result of the termination, pursuant to this Agreement, of each payment or delivery which would otherwise have been required to be made under such transaction (assuming satisfaction of each applicable condition precedent and having due regard, if appropriate, to such market quotations published on, or official settlement prices set by the relevant market (regulated or otherwise) as may be available on, or immediately preceding, the date of calculation);
(c) Cubo Markets shall treat each cost or loss to it, determined as above, as a positive amount and each gain by it, so determined, as a negative amount, and aggregate all of such amounts to produce a single, net positive or negative amount, denominated in the Base Currency (the “Liquidation Amount”).
Payer
22.2 If the Liquidation Amount determined pursuant to clause 22 is a positive amount, you shall pay it to Cubo Markets, and if it is a negative amount, Cubo Markets shall pay it to you. We shall notify you of the Liquidation Amount, and by whom it is payable, immediately after the calculation of such amount.
Payment
22.3 The Liquidation Amount shall be paid in the Base Currency by the close of business on the Business Day following the completion of the termination and liquidation under clause 22 (converted as required by applicable law into any other currency, any costs of such conversion to be borne by you, and (if applicable) deducted from any payment to you). Any Liquidation Amount not paid on the due date shall be treated as an unpaid amount and bear interest, at the rate as reasonably determined by Cubo Markets to be the cost of funding such overdue amount. Interest will accrue on a daily basis and will be due and payable by you as a separate debt.
Base Currency
22.4 For the purposes of any calculation hereunder, we may convert amounts denominated in any other currency into the Base Currency at such rate prevailing at the time of the calculation as we shall reasonably select.
Payments
22.5 Unless a Liquidation Date has occurred or has been effectively set, Cubo Markets shall not be obliged to make any payment or delivery scheduled to be made by Cubo Markets under a transaction for as long as an Event of Default or a potential Event of Default with respect to you has occurred and is continuing.
23. ADDITIONAL RIGHTS
23.1 Cubo Markets’ rights under this clause 23 are in addition to, and not in limitation or exclusion of, any other rights which they may have under this Agreement or otherwise, whether by agreement or operation of law. In particular and without prejudice to the provisions of clauses 21.2 to 22.5 and 11.5 above, they are authorised and entitled, without notification to you and according to their judgement and in their absolute discretion, to take such action as they deem necessary, expedient or desirable to protect their position, including without limitation, one or more of the following actions (whether in whole or in part):
(a) close out or give instructions to close out all or any of your open positions;
(b) perform, cancel or, if applicable, abandon any of your open positions;
(c) borrow, buy, sell, mortgage, charge or otherwise dispose of any or all investments, monies or other assets which you may have requested us to enter into or hold with or for you, or other property of any type held or carried for you (whether entered into or held as security for your obligations to us hereunder or otherwise), or purchase or borrow any or all designated investments or other assets;
(d) satisfy any obligation that you may have to them, either directly or by way of guarantee or suretyship, out of any of your investments, monies or other assets in Cubo Markets’ custody or control;
(e) cancel any or all outstanding orders or contracts or any other commitments made with or for you.
Any of the above actions may be taken without demand for account equity or additional account equity deposit, and regardless of whether the relevant investments or transactions which they may have executed or arranged with, or for you, are solely yours or held jointly with others. In liquidating any long or short positions they may, at their sole discretion, sell or purchase positions with the same maturities or initiate new long or short positions in order to establish a spread or straddle which in their judgement is necessary or advisable to protect existing positions on your account. In all cases, a prior demand by Cubo Markets, or notice of the time and place of a sale or purchase, shall not constitute a waiver of our rights to sell or buy without demand or notice as herewith provided. You will at all times be liable for the payment of any debit balance on your account and you will be liable for any deficiency remaining on your account in the event of the liquidation thereof in whole or in part by you or them. If the proceeds realised pursuant to this authorisation are insufficient for the payment of all liabilities due to Cubo Markets from you, you will promptly pay on demand the deficit and all unpaid liabilities together with overdue interest.
24. TERMINATION
This Agreement may be terminated by you by giving three (3) business days’ notice in writing to Cubo Markets, provided that you do not have any open position(s) and do not have any outstanding liabilities to Cubo Markets. Cubo Markets may terminate this Agreement forthwith upon notice in writing to you at any time with immediate effect or with a notice period as indicated in the notification of termination. Termination shall not affect any transactions previously entered into and shall be without prejudice to any accrued rights and obligations of either you or Cubo Markets. Detailed termination procedures are set out in the Cubo Markets Cancellation/Closure/Termination Policy, which is incorporated into this Agreement by reference.
25. NOTICES
Reports, statements, notices and any other communications may be transmitted to you via email or post, to such address as you may from time to time notify in writing to us. All communications so sent — whether by mail, telegraph, messenger, email, or otherwise — shall be deemed transmitted by us when deposited in the mail, or when received by a transmitting agent, and deemed delivered to you personally, whether actually received by you or not. It is therefore incumbent upon you solely to provide contact details such that any information transmitted to you based upon the contact details you have provided to us is delivered or communicated to you in a manner of your satisfaction and requirement.
26. COMPLAINTS AND COMPENSATION
If you have any complaint about Cubo Markets’ performance under this Agreement, you should direct that complaint to our Compliance Department by writing to [email protected], which will investigate the nature of the complaint in accordance with Cubo Markets’ complaints handling procedure to try to resolve it. A copy of Cubo Markets’ complaints handling procedure is available on request. The acceptance of a complaint for our review, feedback and decision is in no way an acceptance of any liability or non-performance on our part. It is an acknowledgement of the right to clarification and redressal (if any is mandated by the nature of the complaint) as part of our relationship with you through this Agreement.
27. DISPUTE RESOLUTION
27.1 Without prejudice to your rights to refer a complaint to an external body such as the relevant regulatory authorities, arbitration agencies or legal courts of Saint Lucia, the parties will attempt to negotiate a settlement of any claim or dispute between them arising out of, relating to or in connection with this Agreement, including any question regarding its existence, validity or termination. If the matter is not resolved by negotiation, the parties will refer the dispute to mediation. The mediation will take place in Saint Lucia (or such other place or places as the parties may agree) and will be initiated by one party giving written notice to the other that negotiations to settle the claim or dispute have failed.
27.2 Following such notice, the parties will attempt to agree upon a Mediator. If the parties are unable to agree upon a Mediator, or if the Mediator agreed upon is unable or unwilling to act, either party shall, within 14 days after (a) written notice by one party to the other of a failure to agree upon a Mediator, or (b) written notice to either party that the agreed upon Mediator is unable or unwilling to act, apply to the courts of Saint Lucia for the appointment of a Mediator.
27.3 Following the selection or appointment of a Mediator, the parties will attempt to resolve the claim or dispute through mediation in accordance with the applicable rules.
27.4 Notwithstanding any of the foregoing, any party may seek from a court any interim or provisional relief that may be necessary to protect the rights or property of that party, pending resolution of the dispute in accordance with the procedure set forth above.
28. FORCE MAJEURE
28.1 Cubo Markets shall not be liable to you or any person for any damages caused directly or indirectly to you or such person if Cubo Markets is unable to perform any of its obligations under this Agreement because of any event beyond the control of Cubo Markets, including, but not limited to, natural disasters, acts of God, war, terrorism, actions or decrees of governmental bodies, failures of technology equipment or communications equipment or networking equipment (a “Force Majeure Event”). Upon the occurrence of a Force Majeure Event, Cubo Markets shall provide written public or private notification to you using any available media of communication including but not limited to public notification on our official company website, email, telephone, facsimile or other available forms of communication, as circumstances reasonably permit and within such time as is made feasible by specific circumstances at the time. Cubo Markets shall use commercially reasonable efforts to resume performance. Upon receipt of such notice, all of Cubo Markets’ obligations under this Agreement shall be immediately suspended for the duration of such Force Majeure Event.
29. GENERAL
29.1 The provision of Cubo Markets’ services to you is subject to all applicable laws, regulations and other provisions or market practices to which we are subject (collectively, the “applicable regulations”). If any conflict arises between this Agreement and any applicable regulations, the latter shall prevail. We are not required to do anything or refrain from doing anything which would infringe any applicable regulations and may do whatever we consider necessary to comply with them.
29.2 If any provision of this Agreement shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this Agreement which shall remain in full force and effect.
29.3 This Agreement, and any references to other agreements herein, together with any schedules attached hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous oral or written communications, proposals, agreements and representations with respect to the subject matter.
29.4 Any failure by us (whether continued or not) to insist upon strict compliance with any provision hereof shall not constitute nor be deemed to constitute a waiver by us of any of our rights or remedies. The rights and remedies conferred upon Cubo Markets hereby shall be cumulative and the exercise or waiver of any part thereof shall not preclude or inhibit the exercise of any other additional rights and remedies. Neither shall any specific waiver or failure to exercise the rights and remedies granted to Cubo Markets by this Agreement at any instance in time be implied or extended to mean non-enforcement of the clause or condition in subject at a later point in time.
29.5 No party shall, without the prior written consent of the other parties (such consent not to be unreasonably withheld) and except as expressly provided in this Agreement, assign, transfer, charge or deal in any other manner with this Agreement or any of its rights under it.
29.6 Cubo Markets may record our telephone conversations with you and such recordings may be used in evidence in any dispute arising in connection with any transactions under this Agreement.
29.7 No person who is not a party to this Agreement may enforce any term of this Agreement. The parties agree that the terms and conditions of this Agreement govern the relationship between Cubo Markets and you. No third party is authorised to play any role whatsoever in the governance of the relationship formed by this Agreement or any agreement or document entered into pursuant to this Agreement between Cubo Markets and you.
29.8 Any notice from Cubo Markets (including without limitation any demand or statement or notification for deposit(s) of additional account equity) under or in connection with these terms and conditions may be verbal or in writing or by any electronic means, and made to your last known home address, place of work, telephone number (including a telephone answering machine), fax number, e-mail address or other contact details. Demands for additional account equity, if made, will usually be made verbally or by email.
29.9 Any notice shall be deemed to have been duly given when received or given as follows, whichever is earlier:
(a) when left at your last known home or work address or registered address;
(b) if given by leaving a telephone answering machine message or voice mail message, one hour after the message being left on the relevant medium;
(c) if sent by first class post, in the ordinary course of the post and in any event on the next day (or third day in the case of air mail) after posting (excluding Sundays and public holidays);
(d) if sent by e-mail, one hour after sending, provided no “not sent” or “not received” message is received from the relevant e-mail provider;
(e) if sent by electronic media (for example on the Cubo Markets Online Trading Platform), one hour after posting.
30. GOVERNING LAW AND JURISDICTION
This Agreement is governed by the laws of Saint Lucia and, subject to clauses 26 and 27, the courts and arbitration agencies of Saint Lucia will have jurisdiction to settle any disputes which may arise in relation hereto. For such purposes, you irrevocably submit to the exclusive jurisdiction of the courts of Saint Lucia in relation to any such dispute. Nothing in this Agreement shall prevent us from bringing proceedings against you in any other jurisdiction.
31. DISTANCE MARKETING INFORMATION
31.1 In order to comply with industry standards relating to distance marketing, this Agreement will be subject to the following extra provisions.
31.2 Our main business is dealing in financial market investments and contracts (“Financial Markets”) which are defined in greater detail in clause 2.1 of this Agreement.
31.3 In addition to our charges (as described in clause 3), please note that other taxes and costs may exist that are not paid through or imposed by us. It is your exclusive responsibility to verify, understand and evaluate the tax implications of your activities in your account maintained with us.
31.4 All funds should be made payable to Cubo Markets. Please see our website for current address information and wire instructions. Please reference your name and account number on all checks, wire transfers, and correspondence.
31.5 There are no specific additional costs for you, which are charged by us, as a result of you entering into this Agreement.
31.6 Prior to entering into this Agreement, the laws of Saint Lucia shall be the basis of the establishment of our relationship with you. This Agreement is supplied in English, and we will communicate with you in English during the course of our relationship with you.
31.7 Under clause 24 of this Agreement, you have a right to terminate the Agreement at any time provided that you do not have any open position(s) and do not have any outstanding liabilities to us. We also may terminate the Agreement at any time. Accordingly, the Agreement does not have a minimum length. Termination will be without penalty, will not affect any transactions previously entered into, and will be without prejudice to any accrued rights and obligations of either you or us.
31.8 You must note that the right to terminate under this Agreement relates only to cancelling or terminating the Agreement. It does not give you the right to cancel or terminate any particular transaction.
32. USE OF MARKETING PROMOTIONS AND OFFERS
This section outlines the general terms governing the use of any marketing promotions and offers that may be offered by Cubo Markets to its clients from time to time. Such offers may be offered on a selective or inclusive basis, publicly or privately, to selected or all users, without any compulsion placed upon the Company to offer such promotions and offers to those that may have been considered ineligible for any promotions and offers run by the Company from time to time.
32.1 All promotions offered by the Company are on a discretionary basis and the Company cannot be forced into making an offer or promotion available to any given user simply because it has made such an offer available to others. Any promotion and the benefits thereof are offered at the sole discretion of the Company and no client may consider it certain that any available promotion shall be made available to them.
32.2 The terms of all promotions — public and private — are binding upon the users of such promotions. No promotion is offered to a client on a compulsory or automated basis, and clients need to request such promotional benefits to be made available in their account in writing. Such a request may or may not be accepted by the Company and is at the sole discretion of the Company, and its decision is final in all such matters. Therefore, conscious submission of a request for a promotion and its benefits to be applied to the account of a user implies taking cognisance of the terms, conditions and client obligations associated with such offers and benefits. An acceptance of a promotion’s benefits (whether they are pecuniary, financial, monetary or otherwise) is an acceptance of all the terms and conditions of the promotion as may be in existence at any given point in time. Acceptance and use of the benefits as stated in this clause binds a user to the entirety of the Client Agreement, the terms of any promotion used, as well as all other statutory requirements and policies. No exception may be made to any term included in the schedule of policies governing a client’s relation with Cubo Markets.
32.3 In the event of any clause of a promotion or offer being in conflict with the terms of the Client Agreement, the Company shall in its sole discretion decide on the superseding clause without any liability on its part for any losses, damages or loss of profits caused to any user of the promotion as a result of such a decision.
32.4 The terms of any promotion may be unilaterally modified by the Company on an immediate basis without notification. The Company accepts no claims of liability for any losses, damages or loss of profits resulting to a user of the promotion as a result of any such change.
32.5 It is imperative upon potential users of a promotion to fully and completely enquire, note, understand and clarify all the terms of a promotional offer before accepting such an offer and while continuing to use it, or until the time it remains valid. Incomplete or partial understanding of the terms, lack of awareness, complexity of the terms, not receiving details of the terms via official communication, or any other impeding circumstances cannot undermine or mitigate the user’s complete and sole responsibility towards enquiring about and understanding their complete obligations when using promotional benefits. Further, all clients should ensure they understand the terms and conditions of the specific promotion being used in their account precisely. As the Company may operate multiple public and private promotions at any given point in time, no assumption can be made regarding the details of a specific promotion based on the terms and conditions of a previously existent promotion or a similar or related promotion offered at the same or different time.
32.6 It is the Company’s responsibility to provide full clarification and complete detail regarding the terms of a promotion upon specific enquiry by a user. The Company is not obligated towards providing pre-emptive explanation regarding the terms and obligations, to a user of the promotion, unless the Company is asked for such clarification in precise terms by the user of the promotion. The Company makes every effort to have all such information available in a reasonable form at all times, and shall provide all such information to users when requested, within a reasonable time frame (up to five (5) working days) via standard means of communication including but not limited to email, links on the website, facsimile, or via any other means that provide a user full and permanent access to the details for current and future perusal. The absence of pro-active communication from the Company to a user of the promotion regarding its detailed terms and conditions does not impede the rights of the Company under the terms of the promotion in any way. The responsibility for understanding the full implications of the terms and conditions of a promotion lies with the beneficiary of such a promotion (the user or client benefiting from the promotion).
32.7 Any disputes arising as a result of any omissions or otherwise related to a promotion shall be settled in a fair manner, in line with the Company’s standard operating practices. The Company’s decision in such matters shall be final and not open to contest or appeal.
32.8 Any discretion applied by the Company in matters related to the terms of a promotion and their application to a client’s account are voluntary in nature and may not be enforced upon the Company in any manner whatsoever. Exercise of such discretion by the Company in one instance does not extend the rights bestowed upon a user or users, as a result of such exception being made, onto other users, or even the same user in a separate instance.
32.9 Requesting and applying the benefits of more than one (1) promotion simultaneously into the same account is at the sole discretion of the Company. The terms of such a combination (if and when offered) need to be expressly requested, obtained and understood by the user of such an offer, assuming full responsibility for the understanding and fulfilment of the entirety of their obligations as part of such promotional programs.
SCHEDULE 1 — DEFINITIONS
Affiliate means, when used with reference to a party to this Agreement, any entity that directly or indirectly through one or more intermediaries controls or is controlled by or is under common control with that party.
Counterparty means Cubo Markets Ltd or an affiliate of Cubo Markets Ltd which is the counterparty (equal and opposite buyer/seller) to any transaction with a customer of Cubo Markets Ltd.
Cubo Markets Dealing Desk means the facilities and personnel responsible for the execution of all orders placed with Cubo Markets Ltd for the purposes of conducting a transaction in a client account.
Cubo Markets Online Trading Platform means the online trading, account monitoring and control service provided by Cubo Markets, any information contained therein, and the software comprised in them.
Approved Bank shall have the meaning of implying a licensed institution permitted and regulated by the laws of a competent and recognised legal jurisdiction to accept funds as deposits into appropriately referenced and indicated account(s) maintained with that institution.
Client Bank Account for purposes of the client relationship with Cubo Markets under this Agreement shall mean a bank account that has been legally proved to be owned and operated by an individual or organisation that presents the subject account as belonging to it.
Client Money shall mean any cash, assets, investments or other forms of deposit that have been placed by the client with Cubo Markets with reference to a client account maintained with Cubo Markets, less any liabilities owed by the subject client or account to Cubo Markets, arising out of transactions, previously settled, currently in the process of being settled or expected to be settled at a future date.
SCHEDULE 2 — HIGH RISK INVESTMENT NOTICE
Risk Investment Notice
In addition to standard industry disclosures contained in this Agreement, you should be aware that Financial Market investment and trading is one of the riskiest forms of investment available in the investment markets and is only suitable for sophisticated individuals and institutions. An account with Cubo Markets Ltd permits you to invest and transact in foreign exchange, commodities, equities, debt, bonds, debentures and other complex securities investments and markets (as defined in detail in clause 2.1 of this Agreement) on a highly leveraged basis (up to approximately 100 times your account equity, or as otherwise decided by Cubo Markets on a market or investment specific basis) if you choose to utilise the leverage facility offered. An initial deposit of USD 1,000 may enable the account holder to take a maximum position with USD 100,000 notional market value. The funds in an account choosing to operate at levels of maximum leverage can be completely lost if the position(s) held in the account has a one percent swing in value. Given the possibility of losing an entire investment, participation at any level or in any capacity in these Financial Markets should only be conducted with risk capital funds that, if lost, will not significantly affect your personal or institution’s financial well-being.
If you have pursued only conservative forms of investment in the past, you may wish to study Financial Market investments further before continuing an investment of this nature. You must realise that you could sustain a total loss of all funds you deposit into your account with us as initial investment, deposit or account equity, as well as substantial amounts of additional capital (in case of additional deposits), when investing or transacting in Financial Markets, should the market go against your investment. You must also realise that investments or transactions propagated as limited risk investments do not mean that these are investments where the loss is limited to a certain absolute or percentage value. The limited risk in these investments means that you could lose the entire investment made in that particular market or asset without further liability to other investments being simultaneously held in your account, or further liability above the total equity in your account if you hold only that singular investment in your account. If you wish to continue with your investment, you acknowledge that the funds you have committed are purely risk capital and loss of your investment will not jeopardise your style of living, nor will it detract from your future retirement program. Additionally, you fully understand the nature and risks of Financial Market investments, and your obligations to others will not be neglected should you suffer investment losses.
General Risk Disclosure Notice
This notice is provided to you in compliance with industry-wide benchmarks of “business best practice”. This notice does not disclose all of the risks and other significant aspects of complex Financial Market investments such as options, swaps or forward contracts. You should not deal in any investments unless you understand the nature of the contract you are entering into and the extent of your exposure to risk. You should also be satisfied that the contract is suitable for you in the light of your circumstances and financial position.
Whilst Financial Market investments, instruments and contracts can be utilised for the management of risk, some investments are unsuitable for many investors. Different markets, investments and instruments involve different levels of exposure to risk, and in deciding whether to invest or transact in such markets, investments or instruments you should be aware of the following points:
(a) Investing in Financial Markets such as foreign exchange, commodities, debt, equity or other similar securities carries similar risks as investing in a future and you should be aware of these. Transactions or investments in some Financial Markets may also have a contingent liability and you should be aware of the implications of this as set out in paragraph (g) below.
(b) Foreign markets. Foreign markets involve different risks from those in any given local market for you as a client, prospective client, investor or trader. In some cases risks will be greater. The potential for profit or loss from transactions on foreign markets or in foreign currency will be affected by fluctuations in foreign exchange rates. Such enhanced risks include, without limitation, the risks of political or economic policy changes in a foreign setup, environment, entity or jurisdiction, which may substantially and permanently alter the conditions, terms, marketability or price of a foreign currency.
(c) Risk reducing orders or strategies. The placing of certain orders (e.g. “stop loss” or “stop limit” orders) that are intended to limit losses to certain amounts may not always be effective because market conditions or technological limitations may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions, may be just as risky or even riskier than simple “long” or “short” positions.
(d) Cubo Markets prices. The prices posted on the Cubo Markets Online Trading Platform may not necessarily reflect the broader market for financial investments, instruments or products. Cubo Markets will select closing prices to be used in determining equity sufficiency requirements and in periodically marking to market the positions in customer accounts. Although Cubo Markets expects that these prices will be reasonably related to those exhibited by widely recognised market participants such as product or investment relevant official investment or mercantile exchanges, electronic or interbank markets, and other providers or dealers of credible industry standing, the prices Cubo Markets uses may vary from those available to other participants in the market, given the specialised nature of some of the investments offered by Cubo Markets. Consequently, Cubo Markets may exercise considerable independent discretion in setting, demanding or calling for account equity sufficiency levels.
(e) Weekend risk. Various situations, developments or events may arise over a weekend (Friday 16:30 EST – Sunday 18:00 EST), when the Financial Markets generally close for trading, that may cause these markets to open at a significantly different price from where they closed on Friday afternoon. Cubo Markets customers will not be able to use the Cubo Markets Online Trading Platform to place or change orders over the weekend and at other times when the markets are generally closed. There is a substantial risk that stop-loss orders left to protect open positions held over the weekend will be executed at levels significantly worse than their specified price.
(f) Electronic trading. Transacting in OTC (Over The Counter) Financial Market investments, contracts or instruments through the Cubo Markets Online Trading Platform may differ from transacting on other electronic trading systems as well as from transacting in a conventional or open market. Customers that transact on an electronic trading system are exposed to risks associated with the system, including the failure of hardware and software and system downtime, with respect to the Cubo Markets Online Trading Platform, the individual customer’s systems, and the communications infrastructure (for example the Internet) connecting Cubo Markets’ platform with Cubo Markets’ customers.
(g) Contingent liability transactions, if utilising leverage, require you to make a series of payments against the purchase price, instead of paying the whole purchase price immediately. You may sustain a total loss of the amount you deposit in your account to establish or maintain a position. If the market moves against you, you may be called upon to deposit substantial additional funds (account equity) at short notice to maintain the position. If you fail to do so within the time required, your position may be liquidated at a loss and you will be liable for any resulting deficit. Even if the transaction is not leveraged, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when you entered into the contract. Contingent liability transactions which are not traded on or under the rules of a recognised or designated investment exchange may expose you to substantially greater risks.
(h) Collateral. If you deposit collateral as security with your dealer, you should ascertain from your dealer how your collateral will be dealt with. Deposited collateral may lose its identity as your property once dealings on your behalf are undertaken. Even if your dealings should ultimately prove profitable, you may not get back the same assets which you deposited and may have to accept payment in cash.
(i) Commissions. Before you begin to trade, you should obtain details of all commissions and other charges for which you will be liable. If any charges are not expressed in money terms (but, for example, as a dealing spread), you should obtain a clear written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms.
(j) Insolvency. Your dealer’s insolvency or default may lead to positions being liquidated or closed out without your consent. In certain circumstances, you may not get back the actual assets which you lodged as collateral and you may have to accept any available payment in cash.
(k) Client Money. “Client money” rules and definitions as stated earlier will apply, but these may not afford you complete protection in relation to any money you may have paid to Cubo Markets.
You should only engage in Financial Market investing or trading if you are prepared to accept a high degree of risk and in particular the risks outlined in this Risk Warning Notice. You must be prepared to sustain the total loss of all amounts you may have deposited with Cubo Markets as well as any losses, charges (such as interest) and any other amounts (such as costs) we incur in recovering payment from you.
Cubo Markets Ltd
Company registration number: 2026-00241
Registered office: Ground Floor, Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia, LC01 101
Operational office: Office 16, 25 Corinth Hilltop, Corinth, Gros-Islet, Saint Lucia, LC01 101
Contact: [email protected]
You can trade 200+ instruments, including Forex, Metals, Stocks, Indices and Cryptos - all from a single MT5 account. This lets you diversify your ideas without juggling multiple platforms.
You can start with a minimum deposit of just $250 on our Standard account. Higher-tier accounts (Trader, Premium, VIP) are available if you want tighter spreads and more advanced conditions as you grow.
We offer MetaTrader 5 (MT5) – available on desktop and mobile. It's fast, flexible, and supports advanced charting and automated trading, so you can trade the way you like, wherever you are.
Withdrawals are processed promptly upon request. Most clients receive their funds within the same business day — no unnecessary delays, no hidden fees.
Absolutely. You can open a risk-free demo account with virtual funds to explore the platform, test strategies, and get comfortable with execution — before trading with real money.
Optimized by Seraphinite Accelerator
