This agreement is between the client and The website is owned and operated by Safe Side Trading LTD - Suite 305, Griffith Corporate Centre Kingstown Saint Vincent 1510 VC
This is where the owners of the 12 Trader trading platform are located.
This agreement supersedes any other agreement, and in the event of any interpretation issues with respect to any other sources, this agreement shall prevail. Any perceived contradictions should be relayed immediately to 12 Trader for clarification. Should any perceived differences arise between the English language, and any of the other operational languages, the English version will default as the correct interpretation.
Order by which items appear have no correlation to their importance.
A) GENERAL UNDERSTANDING
BASELINE DEFINITIONS USED IN THIS LEGAL DOCUMENT
Client: The “Client” is defined as any counterparty that subscribes to 12 Trader, as well as users of the 12 Trader platform. This may refer to either an individual or an institution.
Base Currency: The base currency refers to the currency from which all the transactions are made, as well as transactions made to 12 Trader. The Base Currency in this document is the United States Dollar, commonly abbreviated as USD, or represented as $.
Business Day: refers to any day in which the banking system is open in Limassol, Cyprus.
Products: Refer to all products offered by 12 Trader, including but not limited to, the platform and service over the telephone.
Guarantee Enhancer: Refers to any guarantees provided over and above the funds in a client's account registered with 12 Trader .
Trading Platform: Refers to the electronic software provided to clients by 12 Trader, for the purpose of executing financial transactions for Forex trading.
Trade: Trade refers to an execution of an order through the 12 Trader trading platform, or via telephone.
OTC: OTC is abbreviation for Over-The-Counter. OTC refers to the transactions executed by 12 Trader. All of our transactions are over the counter. We do not transact on exchanges.
12 Trader Trading Desk: Refers the trading desk operated by us at our premises.
Age restrictions: The trading service will only provided to clients 18+ years old.12 Trader Online Trading System refers to the web-based trading system that allows you to trade. and is available at the following URL: www.12 Trader.com
Network: Refers to all kinds of equipment involved in the execution of transactions, including but not limited to: hardware, software, and the internet capabilities of both parties.
Completed Trade: Completed Trade is associated with any transaction in which a confirmation is communicated to a client. Confirmation may take many forms including, but not limited to the posting of a transaction on the client’s trading blotter.
B) OVERVIEW OF TERMS AND CONDITIONS
COMMUNICATING WITH 12 Trader
The client may contact 12 Trader via phone, email, snail mail, or fax. Please note that the preferred language of communication is English, and 12 Trader prides itself in replying promptly to our client’s queries. 12 Trader may utilize the services of a translator in order address inquiries asked in languages other than English. In the case where a translator’s services are utilized, there may be a delay in the promptness of our response.
12 Trader LEGAL RELATIONSHIP
12 Trader is the counterparty in all transactions. This is a consequence of the nature of the products that 12 Trader offers.
INITIATION OF AGREEMENT
The clauses of this agreement become effective once a client creates any kind of account (including a demo account) with 12 Trader.
BUSINESS AND REGULATORY ENVIRONMENT
Safe Side Trading LTD and 12 Trade both comply with generally accepted rules and regulations, as well as generally accepted accounting norms. Similar to other cases that include multinational entities, Safe Side Trading LTD will adhere to the applicable laws of the jurisdiction in which it operates. 12 Trader can and will pursue matters in any recognized jurisdiction.
POLICY ABOUT REGULATORY INQUIRY
12 Trader will observe total compliance when a government or a regulatory body approaches the organization for more details about a specific account, or a specific transaction. 12 Trader discloses information to regulatory agencies and government agencies only. We do not disclose any kind of information about the accounts we manage, nor do we disclose information about specific transactions to private third parties.
COSTS ASSOCIATED WITH ACCOUNTS REGISTERED WITH 12 Trader
With the exception of ECN related activity, the costs attributed to our clients, or in other words, our revenue, is incorporated in the spread of the instrument on which the client trades. If, for any reason, the client’s activity triggers additional costs, 12 Trader will pass those costs to the client. There are no additional costs associated with the accounts of our clients (except for the wire transfer fee) under normal trading behavior and usual market conditions.
12 Trader emphasizes high priority on reimbursing its clients whenever a valid amount of money is requested. Any balance not required for margin purposes, will be furnished to the client as expediently as possible. Credit card deposits will be returned in asimilar manner. Wire transfers are also available for reimbursement, however, please note that it will incur a $40 bank-handling fee, in addition to any charges assessed by your bank.
Account Closure Fee:
A fee of 50 USD/EUR/GBP (depending on the account’s currency) will be charged for the closure of the account.
This fee will also be applied when a processed withdrawal request will cause the monetary status of a client's account to reach an equity of 50 or below USD/EUR/GBP (depending on the account’s currency).
The remaining amount (after the closing account fee is applied) will be sent as the withdrawal, only if that amount exceeds 50 USD/EUR/GBP (depending on the account’s currency).
The client may opt to keep their account active (even with a balance / equity of 50 or below), in order to redeposit at a later time.
C) LONGEVITY OF AGREEMENT
By reading this, the Client agrees that this agreement will be in effect until the client terminates the agreement by placing a written request to 12 Trader, or if 12 Trader notifies the client about the termination of the agreement, regardless of the reason. It is recommended that if client wishes to cancel agreement, he must notify 12 Trader by registered mail. Termination of contract does not release either party of any liabilities that it has accumulated during the contract period. 12 Trader reserves the right to make any modifications or changes as necessary to this agreement, with or without notifying the client. It is recommended that the client check the validity of this agreement from time to time.
D) ADVISORY ROLE OF 12 Trader Team
12 Trader assumes that its clients are at least 18+ years of age. It is assumed that the client is independent and able to make rational decisions about his monetary investments. 12 Trader openly acknowledges that Forex trading has risks involved. Therefore, it is presumed that any particular client transacts in a manner that is suitable to his risk tolerance. 12 Trader bears no responsibility for any losses suffered by the client due to Forex trading, regardless of reason.
OPINIONS AND RESEARCH
The 12 Trader team invests lots of time and money to provide the most accurate analysis for our clients. However, 12 Trader will not be held accountable for any financial loss that may occur due to miscommunication or misinterpretation about an opinion delivered by a 12 Trader staff member, in response to a client’s request. It is the responsibility of the client to use good judgment when making an investment decision.
WHAT IF I HAVE QUESTIONS, TRADE DISPUTES, OR COMPLAINTS?
12 Trader prides itself on maintaining a very low rate of trade disputes and complaints. Any trade disputes that are market price and time sensitive should immediately be brought to the attention of our dealers, either via telephone or live chat.
Dispute Resolution Scheme
If you are unhappy with the decision of our complaints manager, or the dispute cannot be resolved under our internal complaints handling procedure, you may then formally submit the dispute to the approved dispute resolution scheme of which we are a member for the purposes of the Financial Service Providers (Registration and Dispute Resolution) Act 2008, for determination in accordance with the rules of the particular scheme.
If you would like to file a complaint with regards to our service, kindly contact us providing any relevant details relating to your complaint. We will investigate your enquiry, and a response will be given promptly. We will normally provide a final response within 2 months from receipt of all relevant details. If your complaint relates to an outcome of a trade or a transaction, and remains unresolved, it will turn into a dispute. Should you be unsatisfied with our response, you may choose to escalate your complaint to the regulator, or to an alternative dispute resolution entity.
The privacy of our website visitors and clients, both existing and former, is very important to us. 12 Trader is committed to safeguarding any information we collect, use, and hold about you.
The privacy of our website visitors and clients, both existing and former, is very important to us. 12 Trader is committed to safeguarding any information we collect, use and hold regarding you.
Data Collection Know your Clients “KYC”
When you register for either a demo or a live account with 12 Trader, it is necessary that we collect some personal data from you for business purposes. By understanding your financial needs, we can provide you with the most suitable products and services, give you the appropriate information on investment strategies, process your requests and transactions, and offer you both sales and post-sales services.
We request the following Personal Data from you:
Please note that if and when you choose to end your working relationship with. 12 Trader, we must keep your Personal Data on record for a further five years.
Use of Personal Data
The following list illustrates the reasons why. 12 Trader may need to use your Personal Data:
The Company’s services and products traded are only available to individuals who are at least 18 years old (and at least the legal age in your jurisdiction). You represent and warrant that if you are an individual, you are at least 18 years old and of legal age in your jurisdiction to form a binding contract, and that all registration information you submit is accurate and truthful. The Company reserves the right to ask for proof of age from you and your account may be suspended until satisfactory proof of age is provided. The Company may, in its sole discretion, refuse to offer its products and services to any person or entity and change its eligibility criteria at any time.
We are sorry, but we currently cannot accept clients from your country.