Terms and Conditions

 

Fair Trading Technology
Transparent MT4-ECN Forex Trading

This Service Application serves to fulfil the FTT Customer’s requirement of wanting a FTT MT4 account and to connect the FTT Customer’s FTT’s MT4 account to the ECN Bank live account, using FTT’s T3 Bridge. The relation between the FTT Customer’s FTT MT4 account and to the ECN Bank live account will be 1:1. FFT Sweden AB being a technical service provider possesses the right of distributing the T3 Bridge to the FTT Customer.

 

1. DEFINITIONS

In these Terms and Conditions the following word and expressions have the following meaning:

FTT: FTT Sweden AB. The company that provides the technical platform (software solution) called T3 Bridge. This Service Application allows FTT to connect the FTT Customers FTT MT4 account with the ECN Bank live account. The relation is 1:1.

Trading Platform: Computer software that is used to stream live market prices, charts and/or news and place orders for financial products over a network with the ECN Bank.

T3 Bridge: Transparent Trading Technology Bridge: The technical platform between the trading platform and the ECN Bank.

Bridge Account login: The FTT Customer can login to the T3 Bridge to view both sides simultaneously, MT4 and the ECN Bank account/s side by side.

FTT MT4 account: Metatrader 4 accounts provided from FTT, which can be one or many connected over the T3 Bridge to the ECN Bank's account.

ECN Bank: The licensed Bank, Dukascopy Bank S.A., that handles the FTT Customers money. www.dukascopy.com

FTT Customer: A person or entity that wants to use FTT´s trading solution with the T3 Bridge.

Transaction: A trade that an FTT Customer makes in the ECN Bank’s system in a live account from/with the T3 Bridge.

Fees: The technology based fee that FTT charges. Applicable fess, click here.

Market: The SWFX Forex market and the currency pairs offered there.

Trading Power of Attorney/Service Fee Authorization: The Power of Attorney the FTT Customer has to sign during the application process to open a live account with the ECN Bank.

Limited Power of Attorney: The Limited Power of Attorney the FTT Customer will extend to FTT for support and surveillance in accordance with this Service Application.


2. DESCRIPTION AND GENERAL INFORMATION

2.1 Short Introduction to the FTT software, called the T3 Bridge

FTT provides a transparent and fair trading environment which connects the trading software Metatrader 4 (MT4) to the ECN Bank over the T3 (Transparent Trade Technology) Bridge.

FTT is a platform provider and not a Bank. In order to use FTT’s T3 Bridge solution it is required of our FTT Customers to open an ECN Bank’s live account, which is a separate process.

FTT don't change the market spreads or prices, it is straight through price and order processing between MT4 and the ECN Bank's over the T3 Bridge. FTT charges a volume based fee on live accounts, and provide full transparency in all components.

FTT have no conflict of interest between our FTT Customers trading and the result thereof. Since FTT is NOT a counter party to any Transaction, FTT does not set off or hedge any Transaction against our FTT Customers, and the Transactions are handled on an ‘execution only’ basis at all times.

Please note that FTT shall not provide the FTT Customer with any advice on the merits of the FTT Customer entering into these Terms and Conditions or any Transaction. FTT shall not provide the FTT Customer with any tax advice on the same. The FTT Customer may wish to seek independent advice before entering into these Terms and Conditions and/or any Transaction.

The Terms and Conditions for this Service Application may be amended from time to time and the change will automatically be applicable to all FTT Customers.

 

2.2 General Information

FTT Sweden AB (FTT, we or us) IS A TECHNICAL PLATFORM PROVIDER and not a regulated Bank.

The FTT Customer is a FTT Customer using our software and the FTT Customer is required to also have a ECN Bank account in order to use our services which applies both for demo and live accounts.

When the FTT Customer is using FTT software (MT4, T3 bridge) all orders will be processed straight-through to the ECN Bank.

All prices, current and historic will come from the ECN Bank over our T3 bridge.

All spreads are the same as on the ECN Bank. The spreads varies throughout the day depending on interest, markets available and liquidity.

All FTT Customers will have full access to their MT4 accounts, bridge accounts and the ECN Bank’s accounts at all times.

All FTT Customers will extend a Limited Power of Attorney to FTT for support purposes "SERVICE PROVIDER POWER OF ATTORNEY / SERVICE FEE AUTHORIZATION"

The language used for communication is English and all documents are in English. In the case documents are translated, it will be for informational purposes only. The English version will prevail.

FTT provides services through software on the same availability as the ECN Bank for market opening and closure, as well as for non trading days and holidays.

Metatrader 4 is an order based system and the ECN Bank has a position based system. The FTT Customer may need to learn and understand the difference between the displaying of orders between the two.

All FTT Customers will have master account password control on their ECN Banks account/s, MT4 account/s and T3 Bridge login account/s at all times.

 

3. ORDERS MARGIN, AND PRICE

FTT is a service provider and the MT4 will match the ECN Bank settings. For further information please visit ECN Bank website that can be found in section 1 in these Terms and Conditions.

 

4. FEES AND RESPONSIBILITY FOR PAYMENT

Applicable fees, please click here.

 

5. POWER OF ATTORNEYS

All FTT Customers will extend a Limited Power of Attorney to FTT for: - support and surveillance and for technology fee purposes a "SERVICE PROVIDER POWER OF ATTORNEY / SERVICE FEE AUTHORIZATION" in accordance with the application process to open a live account with the ECN Bank.

The FTT Customer is required to sign this "SERVICE PROVIDER POWER OF ATTORNEY / SERVICE FEE AUTHORIZATION" so FTT can give support and management to the FTT Customer and to secure that FTT is paid for its services.

It is a condition for using FTT services and the T3 Bridge, that the FTT Customer has opened a live account with the ECN Bank and possesses a MT4 account.

FTT's fees (for FTTs services in accordance with terms set out in these Terms and Conditions) will be deducted by the ECN Bank from your account/s and the MT account/s will be updated accordingly.

 

6. CURRENCY

For available currency pairs on the SWFX market, please visit the ECN Bank’s website.

 

7. SUPPORT

FTT will be first line support to all FTT Customers who utilize the MT4 connections; the support will be offered 24/5 or when the market is available and will be manned one hour before markets open and one hour after market closes.

FTT will monitor all systems and services in our surveillance center 24/5 or when the market is available and will be manned one hour before markets open and one hour after market closes.

Support will be offered on regular phone lines, Live chat support and E-mail.

All support will be in English.

All support dialogues (phone, Chat, E-mails) will be recorded and stored for a maximum of one year.

FTT is making sure balances and fees are correctly noted on all orders / account/s and will create discrepancy reports when changes are made on erroneous balances or trades.

FTT makes the best of efforts to keep all systems running with no errors, however, the FTT Customer understands and accepts that for situations outside of FTT's control errors might occur. Information on our operational status and heartbeat information is found on FTT’s website.

 

8. INDEMNIFICATION

I, the FTT Customer, hereby indemnify and hold the company, and their officers, nominee directors, attorneys, attorneys-in-fact, traders, employees, suppliers, affiliates, bankers, custodians, asset managers, service providers and subcontractors harmless from and against any and all losses, damages, taxes, liabilities and expenses that may be incurred by the company, arising out of or in connection with its acceptance of the application and/or the performance of their duties regarding the account, including but not limited to, all legal cost and expenses of the company incurred defending themselves against any claim or liability in connection with its performance hereunder, provided that the company shall not be entitled to any indemnity for any losses damage, taxes, liabilities or expenses that directly result from its willful misconduct or gross negligence.

I, the FTT Customer, hereby indemnify and hold the company, and their officers, nominee directors that are provided, attorneys, attorneys-in-fact, traders, employees, suppliers, bankers, custodians, asset managers, service providers, affiliates and subcontractors harmless due to any and all losses sustained by the company, including but not limited to those arising out of holding or spending precious metals, stocks or currencies, forex trading, investments made using such metals or currencies, purchase of products from other suppliers or failure of third party companies or financial institutions underwriting such assets, failure of third party companies or financial institutions to follow instructions or to follow instructions in a timely manner and or the theft or seizure of funds by financial institutions or governments under any excuse.

 

9. WARNINGS AND RISKS

FTT is a technology provider only, but - FOR INFORMATION PURPOSES - FTT wants to give the FTT Customers information about warnings and risks related to trading in the Forex Market.

It is essential that any and every party, person or entity acknowledges and confirms that they and understand and accept all and any risk involved in trading in general and risks in trading with the software consequently used.

All FTT Customers will by signing these Terms and Conditions acknowledge and confirm that they have fully understood all these risks, and that FTT never can be responsible for those risks – of any shape or form - in any way.

9.1 Regarding that Margined trading carries a high risk

I, the FTT Customer, fully understand and accept that I may sustain a total loss of initial margin funds and any additional funds deposits with the ECN Bank to maintain the FTT Customer’s position, in addition to any liability detailed in §9 "Warnings and Risks".

I, the FTT Customer, fully understand and accept that I am responsible for debit balances directly resulting from trading activity except in the case of a force majeure as detailed in §15 in these Terms and Conditions.

If the market moves against the FTT Customer’s position or margin levels are increased I, the FTT Customer, may be called upon to pay substantial additional funds on short notice to maintain my Position.

I, the FTT Customer, fully understand and accept that whether I, the FTT Customer, make a profit or loss will depend on the fluctuations in the underlying security or commodity outside FTT's control.

9.2 Regarding independent decision

I, the FTT Customer, understand and accept that I must make an independent decision as to whether or not to enter into margined transactions in the MT4 system / ECN Bank’s SWFX market.

By doing this I am fully aware of:

The decision to place a margined transaction is the FTT Customer’s alone. The FTT Customer, and not FTT, is responsible for the effect a margined transaction might have on any open position.

All orders sent through our MT4 system into the ECN Bank are ‘market orders’ which are executed at the next available price in the market for the requested Transaction amount, and thus, the actual price or slippage is what the market offers.

FTT does not execute orders on the FTT Customer’s behalf other than corrections between the MT4 system and the ECN Banks live accounts in accordance with the SERVICE PROVIDER POWER OF ATTORNEY / SERVICE FEE AUTHORIZATION.

9.3 Regarding Market / performance / exchange- and system service risk

I, the FTT Customer, fully understand and accept that:

  • the company does not guarantee the function of the T3 Bridge and the T3 Bridge shall be provided on “AS IS” and “WITH ALL IT'S FAULTS” basis over the Metatrader 4 system. There can be errors, bugs, system failure and/or Internet failure on events out of control by the company. I, the FTT Customer understand that the buy or sell order made on the Metatrader 4 system are subject to various market, currency, economic, political and business risks, and that those investment decisions will not always be profitable or will be in any form the responsibility of the company.

  • except as may otherwise be provided by law, the company will not be liable to the FTT Customer for:

  • Any loss that the account may suffer by reason of any investment decision made or

  • other action taken or omitted in good faith by the company following the FTT Customers instructions or

  • Any loss arising from the company adherence to the FTT Customers instructions or

  • Any loss arising from the market in general or

  • Any act or failure to act by the company, or any Bank or dealer or third party to which the company are dependent or in other way relies on.

9.4 Operational Risk

Trading involves the use of advanced computer and network technology including the use and availability of the worldwide Internet for communication. The company makes its best effort to use and maintain the highest level of infrastructure to minimize any potential risk to the FTT Customer. However, the company cannot guarantee the safety or performance of computer technology, the Internet, banks, and their computers, and/or the failure of computers, power and communications in general. These operational risks rest entirely with the FTT Customer, including losses sustained by the FTT Customer by failure of such technology infrastructure or the lack of timely execution of trades caused by such failures.

The FTT Customer hereby acknowledges having read the risk disclosure and agrees to indemnify and hold the company harmless against such events or risks even if the FTT Customer contacts and notifies the company of any such risks.

9.5 Account limitations and additional documents

I, the FTT Customer, ask FTT to connect the above MT4 accounts to my ECN Bank account specified above (UID). IF application process at ECN Bank is pending, I, the FTT Customer, understand that FTT will wait until such UID is available.

I, the FTT Customer fully understand

  • that it will be possible for the FTT Customer to place orders directly with the ECN Bank on any of their trading platforms such as Java, JForex, Web, Iphone etc and that this might create a mismatch of balances between the MT4 account balances and the ECN Bank Balances.

  • that a signed "SERVICE PROVIDER POWER OF ATTORNEY / SERVICE FEE AUTHORIZATION" needs to be signed by the FTT Customer in order to active the MT4 accounts.

  • that all fees will be managed by ECN Bank on behalf of FTT described in terms of the "SERVICE PROVIDER POWER OF ATTORNEY / SERVICE FEE AUTHORIZATION" and on the below Fee Schedule..

  • that I can change the passwords at the ECN Bank at any time, by doing so the connection to the MT accounts will stop functioning and that the T3 Bridge will not work.

For further information about risks with trading with the ECN Bank, please see their website

 

10. ENTIRE AGREEMENT

These Terms and Conditions, including all exhibits and addenda hereto, constitutes the entire agreement between the Parties and supersedes all prior and contemporaneous agreements, proposals or representations, written or oral, concerning its subject matter. No modification, amendment, or waiver of any provision of these Terms and Conditions shall be effective unless in writing and either signed or accepted electronically by the party against whom the modification, amendment or waiver is to be asserted. However, to the extent of any conflict or inconsistency between the provisions in the body of these Terms and Conditions and any exhibit or addendum hereto, the terms of such exhibit, appendix or addendum shall prevail. Notwithstanding any language to the contrary therein, no terms or conditions stated in any other agreement shall be incorporated into or form any part of these Terms and Conditions, and all such terms or conditions shall be null and void.

 

11. GOVERNING LAW

The construction, performance and validity of these Terms and Conditions shall be governed by the substantive laws of United Kingdom excluding any conflict of law provision thereof.

London is the place of execution and represents the exclusive place of jurisdiction for all proceedings. However, FTT reserves the right to take legal action against the FTT Customer in the court of competent jurisdiction of its residence/domicile or any other competent court of law.

 

12. DISPUTES

Disputes concerning the application and interpretation of these Terms and Conditions shall be settled by the general court in London.


13. MISCELLANEOUS

Each party agree that each is fully responsible, legally qualified and legitimately authorized, to enter, negotiate, accept, agree, and fulfill the Agreement and its terms and conditions. Each signatory hereto represents and warrants that he/she is knowledgeable sophisticated and have either full corporate and/or individual authority to sign these Terms and Conditions.

No delay or omission by any of the Parties in exercising any right under these Terms and Conditions shall operate as a waiver of that or any other right. A waiver or consent given by the other party on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.

The captions of the sections of these Terms and Conditions are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of these Terms and Conditions.

In the event that any provision of these Terms and Conditions shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

 

14. AMENDMENTS

Will be notified and the use of FTT's services is unacceptable the new version of these Terms and Conditions including any amendments.

 

15. FORCE MAJEUR

Any failure to provide the services according to these Terms and Conditions and perform any of its contractual or legal obligations as a result of conditions beyond FTT's control such as (without limitation and qualification) war, strikes, fires, floods, acts of God, governmental restrictions, power failures, or damage or destruction of any network facilities or servers, shall not be deemed a breach of FTT's legal obligations and does not give the FTT Customer any right to claim any liability from FTT.

 

16. FTT CUSTOMER’S ACCEPTANCE AND CONFIRMATION

By completing and electronically agree to these Terms and Conditions I, the FTT Customer, hereby confirm that I have read, understood and agree to be bound by Terms and Conditions.

By agreeing to these Terms and Conditions I also hereby state that I clearly have understood all and every risk, warnings and jeopardy that are attached to the operation I am about to enter into.

 

AUTHORISATION FOR SERVICE PROVIDER (BRIDGE) CONNECTION

The undersigned client (“Client”) will use a software (bridge) of his/her own selection (hereinafter “The Bridge”) of the Service Provider, which shall allow the Client to link Dukascopy Bank SA’s Trading System (hereinafter “SWFX”) to one or more platform(s) provided by third parties (“Third Party Trading Platform”).

Therefore, in order for the Client to authorise Dukascopy Bank SA (hereinafter “Dukascopy”) to enter and execute trades for his/her account in accordance on the SWFX based on trading signals generated by The SP Program, the Client hereby grants the present authorisation, with no right of substitution, in favour of the following person/legal entity (the “Service Provider”):

Full Name: FTT Sweden AB

Country: Sweden

E-mail: accounts@fairtradingtech.com

 

In consideration thereof, the Client acknowledges and agrees to the following terms and conditions:

  • Relations between the Parties
    Dukascopy is not a party to any agreements between the Service Provider and the Client. Dukascopy has not solicited, or in any other way recommended the Service Provider and/or the use of the Bridge. The Client has made inquiries and conducted sufficient research into the Service Provider and the Bridge to make an independent and well informed investment decision.
  • Discrepancies; Monitoring Duties
    The Bridge is a technical solution provided by the Service Provider and not by Dukascopy and that neither Dukascopy nor any of its officers, directors, employees, agents or affiliates will be held responsible for the availability, integrity and proper functioning of the Bridge. Differences may exist with respect to account statement / level of equity / trade reporting (positions, orders, trades, equity, P&L, etc.), between Dukascopy’s on-line reporting and the Bridge / the Service Provider’s interface / Third Party Trading Platform. Dukascopy shall not be responsible or liable for and will not investigate and/or remove any such differences. Only Dukascopy’s reporting is binding on Dukascopy.
    The Client shall monitor and control on a regular basis the synchronisation between Dukascopy’s trading system and the Bridge / Service Provider’s interface. The Client hereby expressly accepts the risks, including but not limited to risks of losses, resulting from any such possible differences between Dukascopy’s trading system and the Bridge / Service Provider’s interface / Third Party Trading Platform.
    Dukascopy has no insight in the trading orders sent through the Bridge and/or given by the Service Provider; Dukascopy has no duty whatsoever to and will not monitor, analyse, interfere in, or opine on, the trading orders and/or strategy sent through the Bridge and/or given by the Service Provider on the Client’s behalf. Dukascopy has no duty to inform or to alert the Client in relation with the trading activity performed on the Client’s account. The Client shall contact Dukascopy immediately for any question. Dukascopy shall not be liable for any losses incurred as a result of the Service Provider’s violation of its responsibilities and/or non-compliance by the Service Provider with instructions given by the Client.
  • Risks inherent to the Bridge
    Using the Bridge to send trading orders may expose the Client to risks associated with the use of computers and data feed systems relied on by Dukascopy. The Client accepts such risks, which may include, but are not limited to, failure of hardware, software or communication lines or systems and further agree to hold Dukascopy harmless from any losses on the Client’s account associated with these risks. Neither Dukascopy nor any of its officers, directors, employees, agents or affiliates will be held responsible for any such breakdown or failure.
  • Client’s Undertakings and Liability
    The Client shall be fully responsible and liable for all actions and/or omissions of the Service Provider and expressly ratifies any transaction which has been or will be executed on instructions given by the Service Provider on the Client’s behalf with regard to any assets on the Account. The Client shall be fully responsible and liable for any overdraft resulting from the Account from instructions or orders placed with Dukascopy. The Service Provider is however not entitled to withdraw any monies from the Client’s account or otherwise dispose of the assets held on the Account.
    The Client undertakes to keep Dukascopy harmless and fully indemnified against any and all losses, direct and indirect damages whether financial or not, resulting from the Client and/or the Service Provider’s acts or omissions. The Client further accepts full responsibility and liability for any losses or damages directly or indirectly arising from a delay or refusal in executing instructions or transactions placed with Dukascopy.
  • Conflicts of Interests
    If the Service Provider is entitled to receive fees based upon the volume traded, the Client acknowledges to have been apprised of the volume of trading and resulting commissions to be generated by the use of the Bridge; such fees may impact the performance of the trading and trigger possible conflicts of interests. The Client undertakes to monitor and to control regularly and frequently the trading activity on his/her account, in particular by accessing online reports made available by Dukascopy.
  • Risks associated with Trading
    The Client confirms being aware of the speculative nature and high risks associated with margin trading, the mechanisms, characteristics and high degree of volatility of the currency and derivative market. The Client understands and agrees that margin trading might result in total loss of funds deposited as a margin and that consequently, only “risk” funds should be used in such trading. Anyone who does have the extra capital that may be subject to a total loss should not trade on margin. No “safe” trading system has ever been devised, and no one can guarantee profits or freedom from loss. The Client has had the opportunity to ask questions on risks, on how the margin deposit will be handled and commissions charged. The Client hereby certifies to have understood any and all risks related to the present Service Fee Instruction.
  • Dukascopy’s Right to Suspend Connectivity
    Dukascopy may – to protect its interests or those of its clients – suspend with immediate effect the connectivity of the SWFX with the Bridge, without prior notice to me; Dukascopy shall have no liability of any kind or nature in this respect for any consequence resulting there from.
  • Miscellaneous
    Any amendments to this Service Provider Authorisation shall be in writing.
    Dukascopy will execute the present Client’s instructions hereunder until written notice of revocation is received by Dukascopy. This Service Provider Authorisation and the attached Fee Schedule shall not be terminated upon the Client’s and/or Service Provider’s death, legally presumed death, bankruptcy or and/or loss of legal capacity or any other causes of termination set forth in articles 35 and 405 of the Swiss Code of Obligations, unless stated otherwise in writing.
    This Service Provider Authorisation is governed by the Marketplace Trading Conditions of Dukascopy. In case of discrepancy between the terms of the Marketplace Trading Conditions and this Service Provider Authorisation, the terms included herein shall prevail.
  • No Banking Secrecy towards the Service Provider
    The Client hereby authorises Dukascopy to disclose to the Service Provider any information or data, including information about registration process with Dukascopy and the funding of (sub)account(s), to the extent necessary for the Service Provider to activate the Bridge on the Client’s account. The Service Provider may in particular want to know whether the Client is already in the process of opening / have opened an account with Dukascopy, whether funds have been deposited, and whether the present Service Provider Authorisation has been signed for its benefit. The Client expressly releases Dukascopy from the Swiss banking secrecy duties in that respect.

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