Terms and Conditions
Last Updated: February 06, 2023
APR BILISIM DANSIMANLIK LIMITED SIRKETI (hereinafter referred to also as the “Company”, “we”, “us”, “our”, “Master Markets”) is an authorized Financial Services Provider, registered atMetropol Istanbul, C1 Blok No:2B/376 Ataturk Mah. Ertugrul Gazi sok. Atasehir . The Company solely owns and operates the websiteMaster Markets.co.za (hereinafter referred to also as the “Website”, “Platform”). The Client (hereinafter referred to also as “you”, “your”) acknowledges, confirms and approves that she/he has read, understood, accepted, and agreed with all the information available on the Company’s Website, including, but not limited to, Legal Documentation, such as Terms of Use, Risk Disclosure Notice, AML & KYC Policy, and Privacy Policy (hereinafter referred to as “Legal Documentation”). This Risk Disclosure Notice explains what the Client needs to know about the Services the Company can offer. It is designed to provide the Client with the information needed to determine whether the Services the Company offers are appropriate for the Client personal objectives, financial situation, and needs, by explaining the risks, rights, and obligations associated with our Services. The English version of this Risk Disclosure Notice is the governing version and shall prevail whenever there is any discrepancy between the English version and other versions.
1. Acceptance of Terms
By accessing and using Master Markets, you accept and agree to be bound by the terms and provisions of these T&C. Additionally, when using the App's particular services, you shall be subject to any posted guidelines or rules applicable to such services.
2. Modifications to Terms
We reserve the right to change or modify these T&C at any time. Any changes will be effective immediately upon posting. Your continued use of the App following the posting of revised T&C means that you accept and agree to the changes.
3. SCOPE OF SERVICES
As per the Securities Dealer Act, 2007 a Securities Dealer means a person: who carries on business of dealing in securities, or who holds himself out as conducting such business described below: 1 makes or offers to make an agreement with another person to enter into or offer to enter into an agreement, for or with a view to acquiring, disposing of, subscribing for or underwriting securities or in any way effects or causes to affect a securities transaction; 2 causes any sale or disposition of or other dealing or any solicitation in respect of securities for valuable consideration, whether the terms of payment be on margin, instalment or otherwise or any attempt to do any of the foregoing; 3 participates as a securities dealer in any transaction in a security occurring upon a securities exchange; 4 receives as a securities dealer an order to buy or sell a security which is executed; 5 manages a portfolio of securities for another person on terms under which the first mentioned person may hold property of the other person; 6 The Client acknowledges that the Services offered by the Company do not include the provision of investment advice. Any investment information as may be announced or provided by the Company or on its behalf does not constitute investment advice services whatsoever, or in any circumstances and shall be regarded as given for informative purposes only. No information announced or provided by the Company shall be deemed as an assurance or guarantee on the expected results of any Transaction. 7 The Client agrees and acknowledges that he/she is solely responsible for any investment strategy, Transaction(s) or investment(s), composition of any account and taxation consequences and the Client shall not rely for this purpose on the Company. It is also understood and accepted that the Company shall not bear any responsibility in any manner or form whatsoever, regardless of the circumstances, for any such investment strategy, transaction, investment or information, composition of any Account or taxation consequences. 8 The trading conditions and execution rules of the financial instruments on offer by the Company can be found online on the Company’s Website, at any given time. Upon a notice issued to the Client, the Company reserves the right to amend its legal documents, from time to time. Even if the Company amends any part of the trading conditions and/or execution rules the Client continues to be bound by the Agreement, including but not limited to any amendments that have been implemented. 9 Unless specifically agreed, the Company is under no obligation to monitor or advise the Client on trading unless the Client is accepted for receiving service of investment advice, in which case a separate agreement between the Client and the Company shall be implemented; therefore, the Company may execute an instruction received by the Client even if such transaction is not suitable for the Client. 10 The Client understands that no physical delivery of a CFD’s underlying instrument (or reference instrument) that he/she traded through his/her Trading Account shall occur. 11 The services are available only to and may be used by individuals or companies who/which are eligible to form legally binding contracts under the laws applicable in their country of residence or, in case of companies, in their country of incorporation. Without limiting the foregoing, Company’s services are not available to persons under the age of 18 or otherwise legal age in their country of residence (hereinafter referred to as “Minors”). In case that the client is a Minor, the Company cannot provide its services to him/her and/or a Minor is not allowed to use Company’s Services. 12 The Company is entitled to refuse the provision of any investment or ancillary service to the Client, at any time, without being obliged to inform the Client of the reasons to do so in order to protect the legitimate interests of both the Client and the Company. 13 The offering of Services may not be legal in some jurisdictions. The Client understands and accepts that the Company is unable to provide the Client with any legal advice or assurances in respect of the Client’s use of the Services and the Company makes no representations whatsoever as to the legality of the Services in the Client’s jurisdiction. It is the Client’s obligation to verify the relevant laws in the Client’s jurisdiction before registering with the Website, applying for an Account and using the Services or Online Trading Facility. The Company does not intend to enable the Client to contravene any applicable laws and regulations. The Client represents, warrants and agrees to ensure that the use of the Online Trading Facility and the Services will comply with all applicable laws, statutes and regulations. The Company shall not be responsible for any illegal or unauthorized use of the Online Trading Facility or the Services by the Client. The Client should consult a legal counsel in the applicable jurisdiction if in doubts about the legality of the use of the Online Trading Facility and the Services under the laws of any jurisdiction that apply to the Client.
4. INTERPRETATION OF TERMS
Unless indicated to the contrary, the defined terms included in the Terms and Conditions of Use shall have a specific meaning and may be used in the singular or plural as appropriate. 1. Access Code(s): Shall mean the email and password used to create an account by the user is the same email and password to be used to login to the app and/or Members Area. 2. Account: Shall mean, the uniquely assigned account that is created for a Client when such Client opens a trading account with the Company. 3. Account Statement: Shall mean periodic statement of the Transactions credited or debited to an Account. 4. Agreement: Shall mean this Agreement, inclusive of all its annexes, appendices, addenda, attachments schedules and exhibits and amendments, as the same may be in force from time to time and modified and amended from time to time. 3. Ask Price: Shall mean the price at which the Company is willing to sell a financial instrument. Balance or Cash Balance: Shall mean the funds available in a trading account that may be used for trading financial instruments. 4. Balance Currency or Profit currency: Shall mean the currency that the trading account is denominated in; it should be noted that all charges including spreads, commissions and swaps, are calculated in that currency. 5. Base Currency: Shall mean the first currency represented in the currency pair, for example in the EUR/USD currency pair the base currency is USD. Equity: Shall mean the balance + Credit plus or minus any profit or loss that derives from any open position.
5. Eligibility
To use the App, you must be at least 18 years old and capable of forming a binding contract under applicable law. By using the App, you represent and warrant that you meet these requirements.
6. Account Registration
To access certain features of the App, you must register for an account. You agree to provide accurate, current, and complete information during the registration process and to update such information as necessary. You are responsible for maintaining the confidentiality of your account password and for all activities that occur under your account.
7. Financial Information and Advice
The financial information and materials provided on the App are for informational purposes only and do not constitute financial advice. You should consult a financial advisor before making any investment decisions. We are not responsible for any financial decisions made based on the information provided through the App.
8. Privacy Policy
Your use of the App is also governed by our Privacy Policy, which is incorporated into these T&C by this reference. Please review our Privacy Policy to understand our practices regarding the collection, use, and disclosure of your personal information.
9. User Conduct
You agree not to use the App for any unlawful purpose or in any way that might harm, disrupt, or impair the functionality of the App. Prohibited activities include, but are not limited to: - Uploading or transmitting viruses or other malicious code. - Engaging in any activity that interferes with or disrupts the App. - Attempting to gain unauthorized access to any portion of the App. - Engaging in any activity that could harm the reputation of Master Markets or its users.
10. Intellectual Property
All content, trademarks, service marks, trade names, logos, and intellectual property rights related to the App are owned by Master Markets or its licensors. You are granted a limited, non-exclusive, non-transferable license to use the App for personal, non-commercial purposes.
11. Third-Party Services
The App may contain links to third-party websites or services that are not owned or controlled by Master Markets. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third-party websites or services. You acknowledge and agree that Master Markets shall not be responsible or liable, directly or indirectly, for any damage or loss caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such websites or services.
12. Limitation of Liability
To the fullest extent permitted by applicable law, Master Markets shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses, resulting from: - Your use of or inability to use the App. - Any unauthorized access to or use of our servers and/or any personal information stored therein. - Any interruption or cessation of transmission to or from the App. - Any bugs, viruses, trojan horses, or the like that may be transmitted to or through the App by any third party. - Any errors or omissions in any content or for any loss or damage incurred as a result of the use of any content posted, emailed, transmitted, or otherwise made available through the App.
13. Prohibited Uses
You may not use the App for any unlawful purpose or to solicit others to perform or participate in any unlawful acts. Additionally, you may not: - Violate any international, federal, provincial, or state regulations, rules, laws, or local ordinances. - Infringe upon or violate our intellectual property rights or the intellectual property rights of others. - Harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability. - Submit false or misleading information.
14. Communication and record keeping
Unless specifically instructed otherwise any notice, instruction, request or other communication shall be given by the Client to the Company via the registered e-mail of the Client, by telephone (so long as the Company is able to identify the Client) or in writing to the registered address of the Company, or as specifically stated herein. All contact details can be found at the Company’s Website. The Client acknowledges that the Company’s official language is the English language. Any translated version of the Agreement and/or any other agreement and any legal document and the content of the Company’s Website and any other communication, may be provided solely for the convenience purposes. In the event of a dispute, the respective English version shall prevail. The Company may contact the Client via e-mail (send to Client’s registered e-mail address), telephone, post (if the Company in its sole discretion deems it as necessary) or by portraying a message in Clients Members Area and/or Trading Platform (‘Online Trading Facility’). The Client agrees that he/she is fully responsible for reading any messages received from the Company on his/her Online Trading Facility or via any other means. The Company bears no liability for any loss that arises as a result of delayed or unreceived communication sent to the Client by the Firm. The Client if fully responsible for the privacy of any information received form the Company. The Client hereby authorizes the Company to contact him/her directly and/or indirectly. The content of all incoming and outgoing telephone calls (Telephone Records) between the Client and the Company is recorded and saved. The Client agrees that the Company has the right to use Telephone Records as it deems necessary, including but not limited to instances when a dispute arises between the Client and the Firm. The Company may provide copies of Telephone Recordings to a regulatory authority and/or other authority of a competent authority, without informing the Client. The Company shall have no obligation to provide any such copy to the Client. The Client agrees that the Company will also record any other communication between the Client and the Firm, in any form, including emails and chat messages. The Client is obliged to keep any information with regards to his/her relationship with the Company confidential at all times.
15. Confidentiality abd data protection
When dealing with the Client’s information, the Company shall act in accordance with the terms of its Privacy Policy, which is in compliance with the relevant Laws and Regulations for the protection of personal data. The Privacy Policy forms part of Company’s Terms and Conditions of Use and is incorporated therein by reference. Therefore, by agreeing to Company’s Terms and Conditions of Use, which are a contractually binding agreement between the Client and the Firm, the Client is also agreeing to the terms of the Privacy Policy. All informational material collected on this website is held by the Company in the strictest confidence. The Company considers one of its highest priorities to be the privacy and integrity of the personal information of its Clients, and devotes the maximum amount of attention to keeping the said information safely stored as well as used appropriately and only with the required authorization. Any and all of the information that is received from the Client is handled with care and an appropriate level of confidentiality. By entering this Agreement, the Client hereby provides his/her consent to collect, process and/or otherwise deal with all data provided by the Client including any data which is considered sensitive without any further requirement to consent. Prior to entering into the Agreement, the potential Client receives the right to object to the disclosure of personal data. If the Client does not consent to the disclosure of personal data, the Company reserves the right to refuse entry into the Agreement and/or any other Agreement and/or the provision of the services to the potential Client. The Client may at any time withdraw his/her consent, nonetheless the Client understands and accepts that if he/she chooses to withdraw his/her consent, the Company shall have the right to immediately terminate the Agreement and/or services provided. Such request shall be provided to the Company in writing via Client’s registered e-mail address. The Company shall use reasonable endeavors to keep Client’s personal data safe; nonetheless, transmission of information via the Internet and/or technology systems is not always completely secure. Any transmission of the Client’s data shall be at Client’s own risk and the Company shall have no liability whatsoever. The Client understands and accepts that the Company will keep any and all information belonging and/or relation to the Client in accordance with any applicable statutory minimum. The Company may collect information about Clients from other sources such as external third parties and from Website cookies. Cookies are small packages of information that the Company may store on Client`s devices when the Client visits the Website in order to enable access and perform actions on the Website and in certain cases to modify the Website content in accordance to Client`s personal preference. When a Client visits the Website, and provide key information, cookies can store such information on Client`s device. Cookies may only be used on some pages of the website in order for the Company to provide the Client with a more customized web browsing experience. Cookies are not used to determine Client`s identity. Information on how the Client can opt-out of functional Cookies can be found in his/her browser privacy settings. The key information is summarized above. Detailed information can be found within Legal Documentation provided the Company.
16. Acknowledgments of risk
Trading carries a significant risk to Client’s investment and may not be suitable for all investors. The Company does not and cannot guarantee the initial capital of the Clients’ portfolio or its value at any time or any money invested in any financial instrument. The Client should unreservedly acknowledge and accept that, regardless of any information which may be offered by the Company, the value of any investment in Financial Instruments may fluctuate downwards or upwards and it is even probable that the investment may become of no value. The Client should unreservedly acknowledge and accept that he/she runs a great risk of incurring losses and damages as a result of the purchase and/or sale of any Financial Instrument and the Client hereby accepts and declares that he/she is willing to undertake this risk. The Client should not engage in any investment directly or indirectly in Financial Instruments unless he/she knows and understands the feature risks involved for each one of the Financial Instruments. If the Client is in any doubt as to the suitability of any investment, he/she should seek independent expert advice. The Company will take all measures possible to ensure that the information contained within the Company’s Website is as accurate as possible, however, the Company does not guarantee that the information contained on the Company’s Website is free of errors and as such all material contained on the Company’s Website is provided for informational purposes only and not as an investment objective/ advice. The Company advices that the Client shall seek independent advice, before acting on any of the information contained within the Company’s Website. The Company will not be responsible for any loss arising from any investment that may have been based on any recommendation, forecast, or other information contained within the Company’s Website. The Firm shall not bear liability to any subscriber, Client, partner, supplier, counterparty or third party for the information supplied through this site, nor for any discontinuance of the service. The Company does not bear responsibility for the content of any website, be it linked to the Company’s Website or not, nor for any consequences incurred by acting on information of such said website(s). Consulting the Company’s Website does not make you a Client of the Company and no entity of the Company or person related to the Company shall have any duty or incur any liability or responsibility towards you as a result of you consulting the Company’s Website. The Client declares that he/she has read and understands and unreservedly accepts the following: Information of the previous performance of a Financial Instrument does not guarantee its current or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the Financial Instruments to which the said information refers. When a Financial Instrument is traded in a currency other than the currency of the Client’s country of residence, any changes in the exchange rates may have a negative effect on its value, price and performance. A Financial Instrument on foreign markets may entail risks different to the usual risks of the markets in the Client’s country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations. The Client acknowledges and accepts that there may be other risks which are not contained in this section of the Agreement. The Company is obliged to reveal and explain risks involved in trading complex financial instruments, such as CFDs and provide the Client with a Risk Disclosure Notice. The Risk Disclosure Notice forms part of Company’s Terms and Conditions of Use and is incorporated therein by reference. Therefore, by agreeing to Company’s Terms and Conditions of Use, which are a contractually binding agreement between the Client and the Company, the Client is also agreeing to the terms of the Risk Disclosure Notice.
17. Termination and default
This Agreement shall take effect upon the Client accepting it on the Company’s Website and shall be valid for an indefinite period until its termination in accordance with the terms of this Agreement. The Client reserves the right to cancel the Agreement during the Probation Period within fourteen (14) days from the initiation of the business relationship with the Company, in compliance with the Commencement of the Terms and Conditions and the Right to Cancel section of the Agreement. The Client shall communicate such request to the Company in writing via email send directly to the Company from the Client’s registered e-mail address. There are no prior notice requirements. The Client reserves the right to terminate the Agreement at any time after the Probation Period, for any reason or without a reason whatsoever, having provided the Company with 3 days written notice via email send directly to the Company from the Client’s registered e-mail address. The Client understands and agrees that prior to the cancellation or termination request, the Client shall ensure that all his/her transactions are closed (if applicable) and/or all his/her funds (if applicable) has been either refunded or withdrawn from Client’s Trading Account. The appropriate procedures together with the Client’s eligibility for Refunds and Withdrawals are described in detail in the Client Money section of the Agreement. The Company reserves the right to terminate the Agreement during the Probation Period due to, inter alia, insufficient documentation received from the Client, providing the Client with a 24-hour notice. Without prejudice to the above, the Company may, at its sole discretion and at any point limit Client’s access to the Company’s services and the Online Trading Facility. The Company reserves the right to terminate the Agreement at any time after the Probation Period, providing the Client with a 24-hour notice, with or without cause and for any reason whatsoever, including but not limited to if the Company has reasonable grounds to believe that: - the Client had breached his/her representations and warranties, - the Client provided the Company with inaccurate, incomplete or false information or documents, - the Client’s Account constitutes or may constitute an Anti-Money Laundering and Prevention of Terrorism Financing or other regulatory risk, - the Client is abusing the Company’s Negative Balance Policy - the Client uses Online Trading Facility and/or gives Orders or enter into Transactions within the definition of market abuse (as such term is defined in the Market Abuse Law 116(I)/2005) or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct. - the Company did not receive the additional and/or updated information and/or documentation required within the time frame determined by the Company - Without prejudice to the above, the Company may place Client’s Trading Account to read only mode (trading disabled) any time and without any notice provided prior to the initiation of the Account Termination Procedure. - The Client accepts that The Company reserves the right to terminate the Agreement immediately by providing the former with a written notification, in the event of: - An issuance of an application, order, resolution or other announcement in relation to bankruptcy or winding-up or dissolution or cessation proceedings of the Client; - The Client either undertaking or deemed by the Company (in its absolute sole discretion) to be involved or attempting to undertake any arbitrage circumstances; - Such termination being required by any competent regulatory authority or body or we are obliged to do so by operation of Law. - The Client’s trading activity affects in any manner the reliability and/or smooth operation and/or order of the Company’s Online Trading Facility. The Client trading in such a way that may harm the Firm’s ability to have and/or to provide an effective service. - In case that the Company deems whether on its own or through any of the Company’s Credit Institutions or Payment Provider reports that a specific transaction may be deemed to be fraudulent; - The Client fails or omits to disclose to the Company his/her capacity as the beneficial owner of more than one accounts being maintained with the Company and/or his/her capacity to act as a regulated money manager on behalf of any other Clients of the Company; - If the Company suspects that the Client is engaged into money laundering activities or terrorist financing or other criminal activities; - The Client involves the Company in any type of fraud or illegality; - If any event of default (however described) occurs in relation to the Client under any other agreement between the Client and the Company. - A Termination of the Agreement shall not imply that any of the Client’s responsibilities cease to exist; the latter shall still be liable to pay to the Company. - Any amount that is due to the Company. - Any expenses that are incurred by the Company, as a result of the termination of the Agreement, and - Any damage that has arisen because of an arrangement settlement. - The Company reserves the right to reverse any transactions that are deemed to be contrary to the Firm’s or the Client’s interest. The Client understands, agrees and hereby authorizes the Company to apply procedures described below, to terminate his/her Account(s) containing his/her funds at the time of the Termination, if the Company, in its sole discretion, deems such Account Termination as necessary: If the Company Terminates the Agreement after Client’s deposit has been credited to his/her trading Account, but the Client has not placed any trades since then, the Company shall return Client’s initial deposit applying its Refund Procedure described in detail in the Client Money section of the Agreement, regardless whether the Client has applied for a Refund or not. If the Company Terminates the Agreement after Client’s deposit has been credited to his/her trading Account and the Client has already entered into trades, but at the time of Account termination there are no open Transactions on the Client’s relevant Trading Account, the Company shall apply the Withdrawal Procedure described in detail in the Client Money section of the Agreement, regardless whether the Client has applied for a Withdrawal or not. If the Company Terminates the Agreement after Client’s deposit has been credited to his/her trading Account and the Client has already entered into trades, and at the time of the Account Termination there is/are open Transaction(s) on the Client’s relevant Trading