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Business Terms

Business Terms – Ortega Capital Limited (Labuan)

Ortega Capital Limited is a Money Broker registered with the Labuan Financial Services Authority (“LFSA”) under registration number: LL13354 and regulated by the same under license number No. MB/17/0014 (hereafter the “Company”). The domain name, https://www.ortegacapital.com is owned by the Company and its head office is located in the Federal Territory of Labuan, Malaysia. The license granted by the LFSA allows the Company to provide money broking services covered by these Business Terms (hereafter the “Agreement”). The Client wishes to become a client of the Company and until such time that it has confirmed to the Client that it has opened an Account on the Client’s behalf, the Company shall not be contractually committed, notwithstanding the first funding of the Client’s Account. The relationship between the Client and the Company shall be governed by these Business Terms, as amended from time to time. The Company also reserves the right to update and amend the terms without prior notification to the Client. The Client accepts and understands that the official language of the Company is the English language and that he should always refer to the legal documentation posted on the website of the Company for all information and disclosures about the Company and its activities.

Definitions of Terms

The following terms shall have the following meanings: “Account” shall mean the trading Account opened by the Client with the Company. “Agreement” between the Client and the Company, shall mean the Business Terms and any additional documents expressed to be part of the Business Terms accepted by the Client. “Authorized Person” shall mean a person authorized by the Client to give instructions on the Client’s Account to the Company. “Base Currency” shall mean the main currency of the Client’s Account. “Business Day” shall mean any banking day in the Republic of Malaysia. “CFD” shall mean a Contract for Difference on spot Forex, stocks, equity indexes, precious metals or any other commodities available for trading. “Client” shall mean any natural or legal person to whom the Company provides investment and/or ancillary services. “Contract” shall mean a trade, purchase or sale of currencies or Financial Instruments in the market. “Equity” shall mean the value of Financial Instruments in the trading Account plus the unrealized profits or minus the unrealized losses. “Financial Instrument” shall mean Foreign Exchange and the Contract for Difference. “FX” or “Forex” shall mean Foreign Exchange, sale and purchase of currencies against each other. “Introducing Broker” shall mean any financial institution or advisor or legal or natural person obtaining remuneration from the Company and/or Clients for introducing Clients to the Company and/or transmitting Client’s orders to the Company for execution. “Margin” shall mean the necessary guarantee funds requested to open a position. “Margin call” shall mean the forced closing, at current prices, by the Company of Client’s open positions when equity falls below the minimum required Margin. “Margin level” shall mean the amount of Equity as percentage to the current market value of the securities held as Margin. “Money Broking” shall mean the act of providing money-broking services as defined by the Labuan Financial Services and Securities Act 2010. “Power of Attorney” shall mean the power to authorize a third party to act on behalf of the Client in all the business relationships with the Company. “Spread” shall mean the difference between the bid and the ask price of a Financial Instrument at the same moment. “Trading Platform” shall mean any information software and hardware complex used by the Company for the purpose of providing services to the Client in accordance with this Agreement. “Trading Terminal” shall mean the Client part of the Trading Platform, enabling the Client to communicate with the Company and or transmit orders to the Company. “Transaction” shall mean any type of transaction performed in the Client’s Account including but not limited to purchase and sale transactions involving Financial Instruments, deposits, withdrawal.

Provision of Services

The Money Broking services to be provided by the Company to the Client are:
  1. Execution of Orders on Behalf of Clients.
The Ancillary Services to be provided by the Company to the Client are:
  1. Safekeeping and administration of financial instruments, including custodianship and related services
  2. Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction
  3. Foreign exchange services where these are connected to the provision of investment services.
In relation to:
  1. Transferable securities
  2. Money-market instruments
  3. Units in collective investment undertakings
  4. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
  5. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event)
  6. Options, futures, swaps, forward rate agreements and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market and/or an MTF
  7. Options, futures, swaps, forward rate agreements and any other derivative contract relating to commodities that can be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular Margin Calls.
  8. Derivative instruments for the transfer of credit risk
  9. Contracts for Differences.
  10. Options, futures, swaps, forward rate agreements and any other derivative contract relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of aa default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular Margin Calls
The Company lists on its website the Transactions that the Client can conclude with the Company and the Financial Instruments that the Client can buy or sell. The Company reserves the right to amend the Transactions and the Financial Instruments concerned without prior notice. Please note: The Services provided by the Company do not include the provision of Investment Advice. Any discussions that might be carried on between the Client and the Company’s employees or any information provided by the Company will not give rise to any advisory relationship, nor do they constitute Company recommendations. Any investment information or materials displayed on the website of the Company does not constitute investment advice and has no regard to specific investment objectives, financial situations or particular needs of the Client. The Client acknowledges that this information is provided to assist him in his investment decision and the Company does not bear any responsibility for the Transactions carried out by the Client. The Client is solely responsible for any investment strategy, Transaction or investment. Trading in Financial Instruments is regulated by the Labuan Financial Services and Securities Act 2010 as subsequently amended as well as the Labuan Companies Act 1990.

Leverage

Foreign Exchange and CFDs are Margin products and the transactions related to them will be done on Margin. The Client declares that they have read, understood and accepted the Risk Disclosure document available on the website of the Company. A general Leverage limitation of 1:100 is enabled on the Company’s servers. Specific Leverage limitations other than the general Leverage limitation, may also be imposed on certain Financial Instruments. The Company may also add to or change its Leverage Limitations at any time without prior notice. The Client thus accepts, acknowledges and understands that a reduction of Leverage in the Account could result in the Account Equity falling below the updated Margin requirements, which could result in a Margin Call. Client is therefore strongly advised to maintain appropriate amount of Margin in their Account(s) at all times in the event of a reduction of Account Leverage.

Margin trading

Foreign Exchange and CFDs are Margin products and the Transactions related to them will be done on Margin. This means that the Client must supply a specified initial Margin (deposit), on agreement, of the overall contract value. The Client declares that he has read, understood and accepted the Risk Disclosure document available on the website of the Company. If the Account Equity falls below the Margin requirement, the Trading Platform will trigger an order to close all open positions. When positions have been over-leveraged or trading losses are incurred to the point that insufficient Equity exists to maintain current open positions, a Margin Call will result, and open positions must be liquidated. The Margin Call process is entirely electronic and there is no discretion on the Company’s part as to the order in which trades are closed. It is strongly advised that Clients maintain the appropriate amount of Margin in their Accounts at all times. Margin requirements may be changed based on Account size, simultaneous open positions, trading style, market conditions, and at the discretion of the Company. The Client thus accepts, acknowledges and understands that:
  1. The Company does not check whether the Transactions of this nature are appropriate to his financial situation;
  2. The Company sets freely the amount of Margins, the assets that may be used as collateral and the extent of any collateral such assets may provide;
  3. All the Client’s assets are therefore blocked and pledged in this connection;
  4. The Company may also change its rates of initial Margin and/or notional trading requirements at any time without prior notice, which may result in a change to the Margin the Client is required to maintain;
  5. Taking into consideration the low Margin normally demanded for these Transactions, price variations in the underlying asset may result in major losses, which could significantly exceed the investment and Margin deposit committed by the Client;
  6. The Client may be required to provide a Margin at very short notice to avoid the risk of having his positions closed and realizing a total loss;
  7. If the Client fails to comply with a request for additional funds within the time prescribed, the position(s) may be liquidated at a loss and the Client will be liable for any resulting deficit;
  8. In certain cases, price changes may be so drastic that the Client’s positions may be closed without any period allowed for him to restore his Margin; The Company provides the Client with online access to enable the Client to monitor his Margin requirement at all times;
  9. The Margin Calls are made by the Company directly through the online trading platform only and the Client has the possibility to see on his Account the existing assets and Margins.

Risk Acknowledgement

The Client accepts, acknowledges and understands that the Transactions are:
  1. highly speculative;
  2. carry a high level of financial risk, as they are subject to excessive price fluctuations which may cause substantial losses;
  3. only suitable for persons who are able to cope with the associated risks by bearing the financial losses.
Furthermore the Client accepts, acknowledges and understands that:
  1. the Company does not guarantee the capital of the Client portfolio or its value at any time or any money invested in any Financial Instrument;
  2. the value of any investment in Financial Instruments may fluctuate and the investment may become of no value;
  3. the value of any investment in Financial Instruments may fluctuate and this may result in considerable losses, substantially exceeding the amount of Client’s investment and Margin deposit and declares that he is willing and able to undertake this risk.

Client’s Account

The Client shall open an Account with the Company to conclude purchase and sale involving Financial Instruments offered by the Company. The Client does not intend to use this Account for payment transactions to third parties. In order to open an Account, the Client will need to fill out our online application form. At the end of this form, the following documents must be uploaded:
  1. Identification document (Passport or ID card): Photograph, signature, personal details, issue and expiry dates, place and date of issue, and serial number MUST BE CLEARLY VISIBLE; and
  2. Proof of address (utility bill, current local authority tax bill): dated within the last 6 months.
If the Client is unable to upload these documents, the documents can be sent via email following the submission of the online application form. In the event that the Client cannot send the necessary documents by email, the Company will accept them by fax or post, however, email still remains the preferred method. If the Client has opened more than one Account, the Company shall be authorized to consider and treat these different Accounts as a single unit. Among other rights that the Company has in the way of handing these Accounts, is the right of transferring funds between Accounts to cover possible negative balances, of any of these Accounts, without this affecting in any way the right of the Company to terminate the Account or close all Client’s open positions. Any funds received in a currency for which the Client does not hold a sub-account shall be converted by the Company into the Client’s base currency. The conversion will be made at the exchange rate applied on the day and at the time when the relevant funds are at the disposal of the back-office department of the Company. Upon request, the Client may open a sub-account.

Obligations of the Client

The Client confirms that he/she is familiar with the way financial markets work and with the Transactions he/she wishes to undertake. Any decision to buy or sell should be taken by the Client alone and should be based on his/her own assessment of his/her financial situation and his/her investment objectives. The Client is responsible to familiarizing with the trading platform, its features and the orders that are capable of being carried out. The Client will monitor his/her position on his Account.

Interest

The funds credited to the Client’s Account with the Company shall not bear interest. By accepting this Agreement, the Client gives express consent and waives any rights to receive any interest earned on fund held on the bank accounts of the Company.

Fees, Costs and Charges

The Client undertakes to pay the Company the commissions and fees stated on the website of the Company under Trading Conditions. The commissions and the fees might be different for the Client introduced by an Introducing Broker. The Company is entitled to debit the Client’s Account with any value added tax, or any other tax, contribution or charge which may be payable as a result of any Transaction which concerns the Client. These charges include, but are not limited to, the following: settlement and exchange fees, regulatory levies or legal fees. The Company is not responsible for paying Client’s tax obligations in relation to possible income tax or similar taxes imposed on him/her by his/her jurisdiction on profits and/or for trading in Financial Instruments. The Company is also entitled to debit the Client’s Account for extraordinary expenses resulting from the Agreement between the Client and the Company. Examples of extraordinary expenses are transaction confirmations, Account statements in hardcopy in situations where this information is provided electronically, courier and postal charges, dispatch of reminders in the case of non- execution by the Client, charges in relation to requests from the authorities. This list is not exhaustive. These charges might be in the form of fixed amounts or in the form of hourly rates or a combination of both. Fees are also applicable for the withdrawals and the online card payment as stipulated on the respective pages of the Company website. The Company may change its commissions, costs, spreads and financing fees from time to time without providing prior notice to the Client.

Introduction of Clients from Introducing Broker

The Client may have been recommended by an Introducing Broker as defined in the ‘Definitions of terms’ section of this Agreement. The Company shall not be liable for any type of agreement that may exist between the Client and the Introducing Broker or for any additional costs that might result as a result of this Agreement. Based on a written agreement with the Company, the Company may pay a fee or a retrocession to the Introducing Broker as defined in Section ‘Inducements (payments to/from third parties)’ of this Agreement. The Client acknowledges the fact that the Introducing Broker is not a representative of the Company nor is it authorized to provide any guarantees or any promises with respect to the Company or its services.

Inducements (Payments to/from Third Parties)

The Company, further to the fees and charges paid or provided to or by the Client or other person on behalf of the Client, as stated within this Agreement, may pay and/or receive fees/commission to/from third-parties, provided that these benefits are designed to enhance the quality of the offered service to the Client and not impair compliance with the Company’s duty to act in the best interests of the Client. The Company may pay fee/commission to Introducing Brokers, referring agents, or other third parties based on a written agreement. This fee/commission is related to the frequency/volume of transactions performed by the referred Client through the Company. The Company has the obligation and undertakes to disclose to the Client, upon his request, further details regarding the amount of fees/commission or any other remuneration paid by the Company to Introducing Brokers, referring agents, or other third parties. The Company may also receive fees/commission as well as other remuneration from third parties based on a written agreement. The Company receives fees/commission from the counterparty through which it executes Transactions. This fee/commission is related to the frequency/volume of Transactions executed through the counterparty. The Company has the obligation and undertakes to disclose to the Client, upon his request, further details regarding the amount of fees/commission or any other remuneration received by the Company from third parties.

Conflicts of Interest

The Conflicts of Interest Policy, available on the website of the Company, aims to ensure that the Company’s Clients are treated fairly and at the highest level of integrity and that their interests are protected at all times. The Company takes adequate steps to properly identify conflicts of interest.

Communication Between the Client and the Company – Client’s Orders

All notices and communications supplied by the Company in conformity with this Agreement, including Account statements and transaction confirmations, may, at the Company’s discretion, be sent to the Client by e-mail or made available in the Client’s Account on the trading platform. All notices/information provided by the Company or received from the Clients should be in English. Such notices or communications shall be deemed to have been received by the Client and transmitted in the proper manner once the Company has placed them on the Platform or sent them by e-mail. The Company shall not be liable for any delay, modification, re-routing or any other modification that the message might undergo after being sent by the Company. The Company shall accept the following communication method used by the Client to contact and transmit instructions to the Company: orders placed in writing and duly signed. The Company shall not incur any liability by refusing to carry out orders given by a person whose identity has not in its opinion been sufficiently verified. The Client shall be responsible for all orders and for the accuracy of all information sent via Internet following use made of the Client’s name, his password or any other personal identification method set up to identify the Client, regardless of who the actual user is. Any person who identifies himself in accordance with the Client’s identification methods shall be considered as being authorized to use the Company’s services. The Company shall consider such orders or communications as having been authorized and issued by the Client. It is Client’s responsibility to keep passwords confidential and to prevent unauthorized use of their passwords and their Trading Terminals. For the orders placed in writing, the Company will verify the Client’s signature with the sample signatures lodged with the Company. The Company shall not be liable for any fraud and/or lack of identification that it has not discovered. Prior to any transfer order, the Company may request an original written confirmation duly signed by the Client. Orders received by the Company in any means other than through the Trading Platform, will be transmitted by the Company to the Trading Platform and processed in the same way as though it was received through the Trading Platform. Any order sent by the Client via the Trading Platform shall only be considered as having been received, and shall not constitute a valid instruction and/or a contract between the Company and the Client, until the instruction has been registered as executed by the Company and confirmed to the Client by means of a Transaction confirmation. The Company bears no responsibility for delays or errors occurring during the transmission of orders or other communication messages via computer, for the accuracy of information received via computer or for any loss that may be incurred by the Client as a result of the inaccuracy of this information. The Client has the right to use a Limited Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Limited Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until written termination by the Client. The Company has the right to refuse to transmit a Client’s order for execution without giving any notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (the list is not exhaustive):
  1. If the Client does not have the required funds deposited in the Company’s Client Account;
  2. If the order violates the smooth operation of the Trading Platform;
  3. If the order aims at manipulating the market of the specific Financial Instrument;
  4. If the order is a result of the use of inside confidential information (insider trading);
  5. If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
The client needs to be aware that the company will refuse to accept or it may cancel any orders placed and/or executed via the Trading Terminal without any notice if it comes to its attention that the logic behind those orders is to abuse the whole system (i.e. use of specific EAs to generate volume by opening and closing positions at the same price) in order this way to gain unfairly benefits for the client and which is beyond the traditional scope of fair trading. Client understands that reports and confirmations of order executions, cancellations or modifications may be erroneous for various reasons. Confirmations also are subject to change by Company, in which case Client shall be bound by the actual order execution, so long as it is consistent with Client’s order. In the event that Company confirms an execution or cancellation in error and Client unreasonably delays in reporting such error within 24 hours, Company reserves the right to require Client to accept the trade, or remove the trade from Client’s Account, in Company’ sole discretion.

Transfer of Funds

The Company shall inform the Client of the name, address and account number of the Company’s “Client account” for transferring funds. The Client shall clearly specify his name and all required information, in accordance with international regulations related to the fight against money laundering and terrorism financing, on the payment document. It is the Company’s policy not to accept payments from third parties to be credited to the Client’s Account. Any amounts transferred by the Client to the Company’s “Client account” will be deposited in the Client’s Account at the “value date” of the received payment and net of any deduction/charges by the transferring bank. The Company has the right to refuse a Client’s transferred funds in any of the following cases (the list is not exhaustive):
  1. If the funds are transferred by a third party;
  2. If the Company has reasonable grounds for suspecting that the person who transferred the funds was not a duly authorized person;
  3. If the transfer violates Labuan legislation.
In any of the above cases takes place, the Company will send back the received funds to the remitter by the same method as they were received. By signing this Agreement, the Client gives his consent and authorizes the Company to make deposits and withdrawals from the “Client account” on behalf of the Client, including but not limited to, for settlement of transactions performed by or on behalf of the Client, for payment of all amounts due by or on behalf of the Client to the Company or any other person. The Client, using the Company’s relevant “Fund transfer request”, shall provide the Company with his bank account in order for the Company to transfer any amount payable to the Client. It is the Company’s policy to transfer all amounts directly to the Client’s personal account. Funds are transferred by the Company within three Business Days of the date they are debited from the Client’s Account. It may take up to five Business Days for funds to be credited to the Client’s bank account, after initiation of the Company’s transfer. The Company has the right to suspend or cancel the Client’s instructions for transferring funds in any of the following cases (the list is not exhaustive):
  1. If the Client instructs the Company to transfer the funds to a third party;
  2. If the Company has reasonable grounds for suspecting that the person who gave the transfer order was not a duly authorized person;
  3. If the transfer violates Labuan legislation.

Safeguarding of Client’s Funds

Client’s funds will be held in the name of the Client and/or the name of the Company on behalf of the Client in a separate bank account specially designated as “Client account”. The Company will maintain separate records in the accounting system of its own funds/assets and funds kept on behalf of Clients so as at any time and without delay to distinguish funds held for one Client from funds held for any other Client, and from its own funds/assets. Client funds are kept off balance sheet and cannot be used to pay back creditors in the unlikely event of default of the Company. In addition, the Company will not be liable for any failure or insolvency of any bank and/or financial institution in which client funds are held, however, applicable investor compensation or deposit protection schemes may protect a proportion of Client funds.

Anti-money Laundering Provisions

According to prevailing Anti-Money Laundering and Counter Financing of Terrorism regulations, the Company shall be entitled to request the Client to provide immediately any additional information concerning the circumstances and the context of a particular transaction. The Company shall have the right not to carry out orders or instructions received from the Client as long as the Client has not supplied the information requested by the Company. The Company has the right to terminate the Agreement with the Client immediately and to prohibit the Client from withdrawing any assets if the explanations provided are inadequate.

Prohibited Trading

Generally speaking, the Company allows all types of trading methods and styles as the Company employs strict Straight Through Processing / Direct Market Access trading. The Company does reserve the right, however, to close, suspend or recoup any closed profit and loss from an Account it deems is engaging in unethical or questionable trading styles including, but not limited to, latency arbitrage, the act of “flooding” of our servers with an excessive amount of pending orders, excessive logins, “picking” & “sniping” or the use of certain automated trading systems or Expert Advisors, without notice. The Company will usually (but is not obligated to always) attempt to initially express its concern to Client or associated parties in the form of a formal warning. If the Client or associated party does not modify trading style within a reasonable amount of time following the warning, Company reserves the right to liquidate all or some open positions, close, suspend or recoup any closed profit or loss from Account, and return any remaining proceeds to Client according to Company Account closing procedures or any combination thereof.

Swap, CFD Expiration & Swap-Free Accounts

The Client will generally but not always incur a credit or debit in their Account if holding a currency, bullion or CFD position at the end of each trading session. You may view current swap rates on the Company’s trading platform, and further information about Swap at the Company’s website. Please note that once a month certain CFD’s will expire, meaning that expiration will take place one day prior to the expiration of its underlying futures contract at our closing bid/ask price. All open positions will be closed, all floating profit and loss will be realized and all pending orders will be deleted. No positions will be rolled forward into the new contract. It is up to the Client to reinitiate their own positions. Swap-Free (Syariah/Sharia) Accounts are generally but not always offered to nor obliged to offer to our clients of Muslim faith. A swap-free Account precludes the Account from either being credited or debited swap interest at the end of each trading session. The Company, however, fully reserves the right to remove the swap-free designation from any Account which is holding a position in which the client owes interest for over 5 trading days. The Company will notify the Client within 24 hours of removal of swap free designation, but is not required to notify the Client of such removal.

Client Complaints

The Client shall be required to check the content of each document, including those sent electronically by the Company or made available to the Client on the trading platform. Such documents should be regarded as authoritative. Complaints shall be addressed, in the first instance, to the Customer Support Department. If the Client receives a response from the Customer Support Department but deems that the complaint needs to be raised further the Client should, complete the Complaint Form which is publicly available on the Company’s website and send it to [email protected]. The Client must inform the Company immediately if an incorrect transaction appears on his Account. Any complaints in relation to the execution or the non-execution of an order will only be examined if raised in writing as soon as the underlying facts occurred, and in any case no later than the time that the relevant market opens on the day after the order was executed. Any claim relating to the performance or non-execution of an order will be considered only on the express condition that it be made in writing upon the occurrence of the events in question and at the latest before the opening of relevant market on the day after the execution, that is, within a 24-hour period from the time of occurrence. It should be noted that the use of an expert advisor or any other program that is used to perform technological and/or algorithmic trading, also alleviates you of any right to claim. Once this period has expired, the Client shall no longer have any rights, of any type whatsoever, against the Company. The document entitled Complaint Form, available on the website, should be used for any complaint a Client may have. The Client may complete the Complaint Form with all the information requested and may return the form to the Company as mentioned in the specific document. Clients shall contribute to the Company, in handling of Client’s claims, by providing the Customer Support Department with all necessary information, including, but not limited to:
  1. Client’s Name and Surname (for corporate clients – company name);
  2. Client’s Account login;
  3. Date and time of the issue in the platform time zone;
  4. Tickets of orders and positions involved;
  5. Detailed description of the issue.
The Client has obligation to avoid any kind of offensive vocabulary, intimidation, unsubstantiated accusation or emotional interpretation of anything related to his claim or to Company or its business.

Complaint Handling Procedure

The Company shall take decisions on Client complaints within five working days upon receipt. In the event Company is unable to take decision on the Client’s complaint within the above period, the Company shall notify the Client by telephone or by e-mail about the extension of the investigation terms. The Client accepts server log—file records as a main source of information in the context of handling of Client complaints. The Client accepts the absolute seniority of server log—file records against other sources, including client terminal log—file records. The Company shall indemnify the Client exclusively by depositing in the Client’s Account with the Company. In the event the Company deems necessary to delete one or another of Client’s tickets, such tickets shall be removed from Client’s trading terminal, and the Client’s Account balance and/or equity shall be adjusted by the summarized value of profit/loss and rollovers related to such tickets. In the event the Company deems necessary to restore one or another of Client’s tickets, such tickets shall be re-established in ‘Trade’ layout of Client’s trading terminal; summarized profit/loss and rollovers related to such tickets shall be deducted from Client’s Account balance and applied to the Client’s Account equity in connection with current market prices.

Rejected Complaints

The Company shall have the right, in its sole discretion, but not the obligation, to decline Client claims on the expiry of 24-hourly period after related issues. The Company may not accept claims handed over to Company by e-mail to any Company email address except [email protected]. The Company shall have the right to decline a Client’s claim or any of its arguments if server log—file record required for examination of such claim or arguments do not exist. Company shall have the right, in its sole discretion, but not the obligation, to decline:
  1. Client claims related to execution period of any requests or orders;
  2. Client claims related to server maintenance works, if such works was previously announced at the Company website not less than 48 hours before the server downtime.
  3. Client claims related to differences between rates quoted by the Company and similar rates quoted by other companies or institutions (including rates of underlying assets), except for claims related to manifest errors in the Company’s data feed.
  4. Client claims related to delays or interruptions of service or transmissions, or failures of performance of the server, regardless of cause, including, but not limited to, those caused by hardware or software malfunction; governmental, exchange or other regulatory action; war, terrorism, or the Company’s unpremeditated acts.

Use of the IT System

In general, the Client shall transmit instructions to the Company using the IT system provided. The Company shall communicate with the Client exclusively via the IT system. It will be the Client’s responsibility to take all necessary action to ensure that he is able to access any communications that may be sent to him. The Client is aware of the fact that using computers and the Internet exposes him to a number of risks including, in particular:
  1. The possibility that an unauthorized third party might access the Client’s Account;
  2. The possibility that the relationship between the Client and the Company might be revealed;
  3. The possibility that computer viruses might infect the Client’s computer system without the Client’s knowledge;
  4. The possibility that third parties might send messages to the Client, claiming to represent the Company.
The Client undertakes to obtain full information (and acknowledges that he alone is responsible for doing so) regarding the risks to which he may be exposed and regarding any necessary security measures. The Company will not be liable for any loss suffered by the Client resulting from IT use, including in particular the actions of unauthorized third parties passing themselves off as the Client or the Company, transmission errors, transmission failures, technical faults, overloads, breakdowns (including but not limited to maintenance activities due to the maintenance system), system downtime, malfunctions, interference, attacks (e.g. hacking), blocked communications and networks (e.g. mail bombing) or other failures, regardless of who is responsible. The Client will therefore take the necessary precautions to ensure the confidentiality of all information, including, among other things, the system password, user ID, portfolio details, transaction activities, Account balances, as well as all other information and all orders. The Client undertakes to notify the Company immediately if it comes to his attention that his system password is being used without authorization. The Client hereby assumes all liability arising in connection with technical access to the Company’s services. The Client shall be responsible for acquiring, installing and configuring the appropriate hardware and software, in order to set up his connection with the Company’s online services. The Company shall not be liable for any actions of the access provider and/or hardware that it has not supplied itself.

Recording of Conversations

The Client acknowledges, accepts and consents the fact that the Company may record at will and/or produce a written record of telephone conversations, internet based conversations (chat) and meeting between the Company and the Client. The Client allows the Company to use these recordings or the transcripts of these recordings as evidence in relation to any parties, to disclose such information as part of any litigation or litigation that it expects to arise between the Client and the Company. Technical reasons could prevent the Company from recording a conversation and the recordings or the transcripts produced by the Company will be destroyed in accordance with the Company’s normal practice. Therefore, the Client must not expect that these recordings will be available.

Outsourcing

The Company provides its Clients with trading services using an internet based trading system. The Company has outsourced the development, physical hosting, maintenance and updating of its online trading platform to a foreign entity. The Company’s Clients will not have any direct contact with this entity and the Company will take all reasonable steps to ensure the security of all the data regarding the identity of its Clients. The Client hereby acknowledges and accepts the fact that the Company outsources such activities.

Right of Set-off

The Company shall have the right, at its discretion and without the Client’s authorization, of a ‘set-off’ against the Client’s claims for all claims arising out of its relationship with the Client. This right of set-off shall exist regardless of the expiry date of any claims, the currency in which they are denominated, and their nature.

Confidential Information

The Company shall have the right, without the need to inform the Client beforehand, to disclose any details of the Client’s transactions or any other information, that may be necessary for the purposes of complying with any requirements of any person entitled to require such a disclosure by law or with any Company obligation, to proceed with the said disclosure to any person. The Company will handle all the Client’s personal data in accordance with the relevant laws and regulations for the protection of personal data.

General Provisions

The provision of services to the Client is subject to all applicable laws, regulations, and other provisions or market practices to which the Company is subject to. If any provision of this Agreement shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, this shall not affect the other provisions of this Agreement which shall remain in full force and effect. No party shall without the prior consent of the other parties assign, transfer, charge or deal in any other manner with this Agreement or any of its rights under it.

Amendments

This Agreement may be amended at any time by the Company as may be applicable due to regulatory amendments as well as internal policies. Clients are expected to monitor and ensure they are up to date with the latest amendments made; to this end the Company will ensure to have visible in its Business Terms the date of the most recent amendments made.

Account Limitation

The Company permits each Client to open up to 5 Accounts, to accommodate for the below possible scenarios of the Client:
  1. To Segregate different trading strategies
  2. To use/benefit from different Account types offered by the Co
  3. To maintain Accounts in different base currencies
Should a Client wish to have more than 5 Accounts with the Company, the Company may consider on ad hoc basis to allow for this, provided a valid and clear reason as to why more Accounts are needed, is provided by the Client.

Termination

This Agreement will be valid until its termination as provided below. The Company reserves the right to terminate the Agreement with the Client at any time with immediate effect and without giving reasons. The Company shall have the right to freely set the consequences of such termination for the Client’s positions without incurring any liability. The Company will no longer carry out any orders for the Client upon termination of the Agreement with the Client. The Company will pay the Client any pending obligations owed to him by the Company. The Client has the right to terminate the Agreement by giving a written notice of at least seven Business Days specifying the date of termination. The Client is obliged to pay any pending obligations towards the Company, including but not limited to any pending fee or amount payable to the Company, any charge or expenses incurred or to be incurred as a result of the termination of the Agreement as well as any other expenses that might arise during the settlement of the pending obligations. The Company has the right to subtract all above pending obligations from the Client Account. The termination of the Agreement does not influence in any way the rights, contractual provisions, commitments, obligations and liabilities of either party.

Applicable Laws and Place of Jurisdiction

The relationship between the parties shall be governed solely by and construed solely in accordance with the Republic of Malaysia laws. The courts of the Republic of Malaysia shall have sole jurisdiction to hear any litigation between the parties arising out of or in connection with this Agreement. Nevertheless, the Company reserves the right to initiate proceedings before any competent court or jurisdiction, including in particular the courts in the country of which the Client is a citizen or in which he resides.

Declaration

The Client declares that he has read, understood and accepted these Business Terms in their entirety. The Client declares that he has read, understood and accepted the document entitled Risk Disclosure and he has understood the warnings contained in this document. By accepting these Business Terms, the Client declares that he has read, understood and accepted all the information provided in the ancillary documents which are available on the website of the Company: The Client declares that he consents and agrees to direct advertising through cold calling by any means, including but not limited to, by phone, email and facsimile. The Client declares that he is over 18 years old and/or has full capacity (in case of legal entities) to enter and be bound by this Agreement and that he is not prohibited by the legislation/regulations of his country of residence to enter into this Agreement. The Client declares that all information provided in the “Account application form” is true, accurate, complete and not misleading and that he undertakes to inform the Company of any changes that might occur to the data/information provided in the “Account application form”.

Company’s Contact Details

Clients shall communicate with the Company with the communication methods described within this Agreement at the following address: Correspondence Address: Ortega Capital Limited Unit 3A-16, Level 3A, Labuan Times Square, Federal Territory of Labuan, 87000, Malaysia Customer Service: E-mail: [email protected]

Business Terms – Ortega Capital Limited (St. Vincent)

Ortega Capital Limited (St. Vincent), Suite 305, Griffith Corporate Centre, Beachmont P.O. Box 1510, Kingstown, St. Vincent and the Grenadines, is incorporated under the registered number 22746 IBC-2015 by the Registrar of International Business Companies, and registered with the Financial Services Authority of St. Vincent and the Grenadines (hereafter the “Company”). The Company is licensed to use the domain name, https://www.ortegacapital.com. The Client wishes to become a client of the Company and until such time that it has confirmed to the Client that it has opened an Account on the Client’s behalf, the Company shall not be contractually committed, notwithstanding the first funding of the Client’s Account. The relationship between the Client and the Company shall be governed by these Business Terms, as amended from time to time. The Company also reserves the right to update and amend the terms without prior notification to the Client. The Client accepts and understands that the official language of the Company is the English language and that he should always refer to the legal documentation posted on the website of the Company for all information and disclosures about the Company and its activities.

Definitions of Terms

The following terms shall have the following meanings: “Account” shall mean the trading Account opened by the Client with the Company. “Agreement” between the Client and the Company, shall mean the Business Terms and any additional documents expressed to be part of the Business Terms accepted by the Client. “Authorized Person” shall mean a person authorized by the Client to give instructions on the Client’s Account to the Company. “Base Currency” shall mean the main currency of the Client’s Account. “Business Day” shall mean any banking day in the Republic of Malaysia. “CFD” shall mean a Contract for Difference on spot Forex, stocks, equity indexes, precious metals or any other commodities available for trading. “Client” shall mean any natural or legal person to whom the Company provides investment and/or ancillary services. “Contract” shall mean a trade, purchase or sale of currencies or Financial Instruments in the market. “Equity” shall mean the value of Financial Instruments in the trading Account plus the unrealized profits or minus the unrealized losses. “Financial Instrument” shall mean Foreign Exchange and the Contract for Difference. “FX” or “Forex” shall mean Foreign Exchange, sale and purchase of currencies against each other. “Introducing Broker” shall mean any financial institution or advisor or legal or natural person obtaining remuneration from the Company and/or Clients for introducing Clients to the Company and/or transmitting Client’s orders to the Company for execution. “Margin” shall mean the necessary guarantee funds requested to open a position. “Margin call” shall mean the forced closing, at current prices, by the Company of Client’s open positions when equity falls below the minimum required Margin. “Margin level” shall mean the amount of Equity as percentage to the current market value of the securities held as Margin. “Power of Attorney” shall mean the power to authorize a third party to act on behalf of the Client in all the business relationships with the Company. “Spread” shall mean the difference between the bid and the ask price of a Financial Instrument at the same moment. “Trading Platform” shall mean any information software and hardware complex used by the Company for the purpose of providing services to the Client in accordance with this Agreement. “Trading Terminal” shall mean the Client part of the Trading Platform, enabling the Client to communicate with the Company and or transmit orders to the Company. “Transaction” shall mean any type of transaction performed in the Client’s Account including but not limited to purchase and sale transactions involving Financial Instruments, deposits, withdrawal.

Provision of Services

The Money Broking services to be provided by the Company to the Client are:
  1. Execution of Orders on Behalf of Clients.
The Ancillary Services to be provided by the Company to the Client are:
  1. Safekeeping and administration of financial instruments, including custodianship and related services
  2. Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction
  3. Foreign exchange services where these are connected to the provision of investment services.
In relation to:
  1. Transferable securities
  2. Money-market instruments
  3. Units in collective investment undertakings
  4. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
  5. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event)
  6. Options, futures, swaps, forward rate agreements and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market and/or an MTF
  7. Options, futures, swaps, forward rate agreements and any other derivative contract relating to commodities that can be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular Margin Calls.
  8. Derivative instruments for the transfer of credit risk
  9. Contracts for Differences.
  10. Options, futures, swaps, forward rate agreements and any other derivative contract relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of aa default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular Margin Calls
The Company lists on its website the Transactions that the Client can conclude with the Company and the Financial Instruments that the Client can buy or sell. The Company reserves the right to amend the Transactions and the Financial Instruments concerned without prior notice. Please note: The Services provided by the Company do not include the provision of Investment Advice. Any discussions that might be carried on between the Client and the Company’s employees or any information provided by the Company will not give rise to any advisory relationship, nor do they constitute Company recommendations. Any investment information or materials displayed on the website of the Company does not constitute investment advice and has no regard to specific investment objectives, financial situations or particular needs of the Client. The Client acknowledges that this information is provided to assist him in his investment decision and the Company does not bear any responsibility for the Transactions carried out by the Client. The Client is solely responsible for any investment strategy, Transaction or investment.

Leverage

Foreign Exchange and CFDs are Margin products and the transactions related to them will be done on Margin. The Client declares that they have read, understood and accepted the Risk Disclosure document available on the website of the Company. A general Leverage limitation of 1:100 is enabled on the Company’s servers. Specific Leverage limitations other than the general Leverage limitation, may also be imposed on certain Financial Instruments. The Company may also add to or change its Leverage Limitations at any time without prior notice. The Client thus accepts, acknowledges and understands that a reduction of Leverage in the Account could result in the Account Equity falling below the updated Margin requirements, which could result in a Margin Call. Client is therefore strongly advised to maintain appropriate amount of Margin in their Account(s) at all times in the event of a reduction of Account Leverage.

Margin trading

Foreign Exchange and CFDs are Margin products and the Transactions related to them will be done on Margin. This means that the Client must supply a specified initial Margin (deposit), on agreement, of the overall contract value. The Client declares that he has read, understood and accepted the Risk Disclosure document available on the website of the Company. If the Account Equity falls below the Margin requirement, the Trading Platform will trigger an order to close all open positions. When positions have been over-leveraged or trading losses are incurred to the point that insufficient Equity exists to maintain current open positions, a Margin Call will result, and open positions must be liquidated. The Margin Call process is entirely electronic and there is no discretion on the Company’s part as to the order in which trades are closed. It is strongly advised that Clients maintain the appropriate amount of Margin in their Accounts at all times. Margin requirements may be changed based on Account size, simultaneous open positions, trading style, market conditions, and at the discretion of the Company. The Client thus accepts, acknowledges and understands that:
  1. The Company does not check whether the Transactions of this nature are appropriate to his financial situation;
  2. The Company sets freely the amount of Margins, the assets that may be used as collateral and the extent of any collateral such assets may provide;
  3. All the Client’s assets are therefore blocked and pledged in this connection;
  4. The Company may also change its rates of initial Margin and/or notional trading requirements at any time without prior notice, which may result in a change to the Margin the Client is required to maintain;
  5. Taking into consideration the low Margin normally demanded for these Transactions, price variations in the underlying asset may result in major losses, which could significantly exceed the investment and Margin deposit committed by the Client;
  6. The Client may be required to provide a Margin at very short notice to avoid the risk of having his positions closed and realizing a total loss;
  7. If the Client fails to comply with a request for additional funds within the time prescribed, the position(s) may be liquidated at a loss and the Client will be liable for any resulting deficit;
  8. In certain cases, price changes may be so drastic that the Client’s positions may be closed without any period allowed for him to restore his Margin; The Company provides the Client with online access to enable the Client to monitor his Margin requirement at all times;
  9. The Margin Calls are made by the Company directly through the online trading platform only and the Client has the possibility to see on his Account the existing assets and Margins.

Risk Acknowledgement

The Client accepts, acknowledges and understands that the Transactions are:
  1. highly speculative;
  2. carry a high level of financial risk, as they are subject to excessive price fluctuations which may cause substantial losses;
  3. only suitable for persons who are able to cope with the associated risks by bearing the financial losses.
Furthermore the Client accepts, acknowledges and understands that:
  1. the Company does not guarantee the capital of the Client portfolio or its value at any time or any money invested in any Financial Instrument;
  2. the value of any investment in Financial Instruments may fluctuate and the investment may become of no value;
  3. the value of any investment in Financial Instruments may fluctuate and this may result in considerable losses, substantially exceeding the amount of Client’s investment and Margin deposit and declares that he is willing and able to undertake this risk.

Client’s Account

The Client shall open an Account with the Company to conclude purchase and sale involving Financial Instruments offered by the Company. The Client does not intend to use this Account for payment transactions to third parties. In order to open an Account, the Client will need to fill out our online application form. At the end of this form, the following documents must be uploaded:
  1. Identification document (Passport or ID card): Photograph, signature, personal details, issue and expiry dates, place and date of issue, and serial number MUST BE CLEARLY VISIBLE; and
  2. Proof of address (utility bill, current local authority tax bill): dated within the last 6 months.
If the Client is unable to upload these documents, the documents can be sent via email following the submission of the online application form. In the event that the Client cannot send the necessary documents by email, the Company will accept them by fax or post, however, email still remains the preferred method. If the Client has opened more than one Account, the Company shall be authorized to consider and treat these different Accounts as a single unit. Among other rights that the Company has in the way of handing these Accounts, is the right of transferring funds between Accounts to cover possible negative balances, of any of these Accounts, without this affecting in any way the right of the Company to terminate the Account or close all Client’s open positions. Any funds received in a currency for which the Client does not hold a sub-account shall be converted by the Company into the Client’s base currency. The conversion will be made at the exchange rate applied on the day and at the time when the relevant funds are at the disposal of the back-office department of the Company. Upon request, the Client may open a sub-account.

Obligations of the Client

The Client confirms that he/she is familiar with the way financial markets work and with the Transactions he/she wishes to undertake. Any decision to buy or sell should be taken by the Client alone and should be based on his/her own assessment of his/her financial situation and his/her investment objectives. The Client is responsible to familiarizing with the trading platform, its features and the orders that are capable of being carried out. The Client will monitor his/her position on his Account.

Interest

The funds credited to the Client’s Account with the Company shall not bear interest. By accepting this Agreement, the Client gives express consent and waives any rights to receive any interest earned on fund held on the bank accounts of the Company.

Fees, Costs and Charges

The Client undertakes to pay the Company the commissions and fees stated on the website of the Company under Trading Conditions. The commissions and the fees might be different for the Client introduced by an Introducing Broker. The Company is entitled to debit the Client’s Account with any value added tax, or any other tax, contribution or charge which may be payable as a result of any Transaction which concerns the Client. These charges include, but are not limited to, the following: settlement and exchange fees, regulatory levies or legal fees. The Company is not responsible for paying Client’s tax obligations in relation to possible income tax or similar taxes imposed on him/her by his/her jurisdiction on profits and/or for trading in Financial Instruments. The Company is also entitled to debit the Client’s Account for extraordinary expenses resulting from the Agreement between the Client and the Company. Examples of extraordinary expenses are transaction confirmations, Account statements in hardcopy in situations where this information is provided electronically, courier and postal charges, dispatch of reminders in the case of non- execution by the Client, charges in relation to requests from the authorities. This list is not exhaustive. These charges might be in the form of fixed amounts or in the form of hourly rates or a combination of both. Fees are also applicable for the withdrawals and the online card payment as stipulated on the respective pages of the Company website. The Company may change its commissions, costs, spreads and financing fees from time to time without providing prior notice to the Client.

Introduction of Clients from Introducing Broker

The Client may have been recommended by an Introducing Broker as defined in the ‘Definitions of terms’ section of this Agreement. The Company shall not be liable for any type of agreement that may exist between the Client and the Introducing Broker or for any additional costs that might result as a result of this Agreement. Based on a written agreement with the Company, the Company may pay a fee or a retrocession to the Introducing Broker as defined in Section ‘Inducements (payments to/from third parties)’ of this Agreement. The Client acknowledges the fact that the Introducing Broker is not a representative of the Company nor is it authorized to provide any guarantees or any promises with respect to the Company or its services.

Inducements (Payments to/from Third Parties)

The Company, further to the fees and charges paid or provided to or by the Client or other person on behalf of the Client, as stated within this Agreement, may pay and/or receive fees/commission to/from third-parties, provided that these benefits are designed to enhance the quality of the offered service to the Client and not impair compliance with the Company’s duty to act in the best interests of the Client. The Company may pay fee/commission to Introducing Brokers, referring agents, or other third parties based on a written agreement. This fee/commission is related to the frequency/volume of transactions performed by the referred Client through the Company. The Company has the obligation and undertakes to disclose to the Client, upon his request, further details regarding the amount of fees/commission or any other remuneration paid by the Company to Introducing Brokers, referring agents, or other third parties. The Company may also receive fees/commission as well as other remuneration from third parties based on a written agreement. The Company receives fees/commission from the counterparty through which it executes Transactions. This fee/commission is related to the frequency/volume of Transactions executed through the counterparty. The Company has the obligation and undertakes to disclose to the Client, upon his request, further details regarding the amount of fees/commission or any other remuneration received by the Company from third parties.

Conflicts of Interest

The Conflicts of Interest Policy, available on the website of the Company, aims to ensure that the Company’s Clients are treated fairly and at the highest level of integrity and that their interests are protected at all times. The Company takes adequate steps to properly identify conflicts of interest.

Communication Between the Client and the Company – Client’s Orders

All notices and communications supplied by the Company in conformity with this Agreement, including Account statements and transaction confirmations, may, at the Company’s discretion, be sent to the Client by e-mail or made available in the Client’s Account on the trading platform. All notices/information provided by the Company or received from the Clients should be in English. Such notices or communications shall be deemed to have been received by the Client and transmitted in the proper manner once the Company has placed them on the Platform or sent them by e-mail. The Company shall not be liable for any delay, modification, re-routing or any other modification that the message might undergo after being sent by the Company. The Company shall accept the following communication method used by the Client to contact and transmit instructions to the Company: orders placed in writing and duly signed. The Company shall not incur any liability by refusing to carry out orders given by a person whose identity has not in its opinion been sufficiently verified. The Client shall be responsible for all orders and for the accuracy of all information sent via Internet following use made of the Client’s name, his password or any other personal identification method set up to identify the Client, regardless of who the actual user is. Any person who identifies himself in accordance with the Client’s identification methods shall be considered as being authorized to use the Company’s services. The Company shall consider such orders or communications as having been authorized and issued by the Client. It is Client’s responsibility to keep passwords confidential and to prevent unauthorized use of their passwords and their Trading Terminals. For the orders placed in writing, the Company will verify the Client’s signature with the sample signatures lodged with the Company. The Company shall not be liable for any fraud and/or lack of identification that it has not discovered. Prior to any transfer order, the Company may request an original written confirmation duly signed by the Client. Orders received by the Company in any means other than through the Trading Platform, will be transmitted by the Company to the Trading Platform and processed in the same way as though it was received through the Trading Platform. Any order sent by the Client via the Trading Platform shall only be considered as having been received, and shall not constitute a valid instruction and/or a contract between the Company and the Client, until the instruction has been registered as executed by the Company and confirmed to the Client by means of a Transaction confirmation. The Company bears no responsibility for delays or errors occurring during the transmission of orders or other communication messages via computer, for the accuracy of information received via computer or for any loss that may be incurred by the Client as a result of the inaccuracy of this information. The Client has the right to use a Limited Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Limited Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until written termination by the Client. The Company has the right to refuse to transmit a Client’s order for execution without giving any notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (the list is not exhaustive):
  1. If the Client does not have the required funds deposited in the Company’s Client Account;
  2. If the order violates the smooth operation of the Trading Platform;
  3. If the order aims at manipulating the market of the specific Financial Instrument;
  4. If the order is a result of the use of inside confidential information (insider trading);
  5. If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
The client needs to be aware that the company will refuse to accept or it may cancel any orders placed and/or executed via the Trading Terminal without any notice if it comes to its attention that the logic behind those orders is to abuse the whole system (i.e. use of specific EAs to generate volume by opening and closing positions at the same price) in order this way to gain unfairly benefits for the client and which is beyond the traditional scope of fair trading. Client understands that reports and confirmations of order executions, cancellations or modifications may be erroneous for various reasons. Confirmations also are subject to change by Company, in which case Client shall be bound by the actual order execution, so long as it is consistent with Client’s order. In the event that Company confirms an execution or cancellation in error and Client unreasonably delays in reporting such error within 24 hours, Company reserves the right to require Client to accept the trade, or remove the trade from Client’s Account, in Company’ sole discretion.

Transfer of Funds

The Company shall inform the Client of the name, address and account number of the Company’s “Client account” for transferring funds. The Client shall clearly specify his name and all required information, in accordance with international regulations related to the fight against money laundering and terrorism financing, on the payment document. It is the Company’s policy not to accept payments from third parties to be credited to the Client’s Account. Any amounts transferred by the Client to the Company’s “Client account” will be deposited in the Client’s Account at the “value date” of the received payment and net of any deduction/charges by the transferring bank. The Company has the right to refuse a Client’s transferred funds in any of the following cases (the list is not exhaustive):
  1. If the funds are transferred by a third party;
  2. If the Company has reasonable grounds for suspecting that the person who transferred the funds was not a duly authorized person;
  3. If the transfer violates prevailing legislation.
In any of the above cases takes place, the Company will send back the received funds to the remitter by the same method as they were received. By signing this Agreement, the Client gives his consent and authorizes the Company to make deposits and withdrawals from the “Client account” on behalf of the Client, including but not limited to, for settlement of transactions performed by or on behalf of the Client, for payment of all amounts due by or on behalf of the Client to the Company or any other person. The Client, using the Company’s relevant “Fund transfer request”, shall provide the Company with his bank account in order for the Company to transfer any amount payable to the Client. It is the Company’s policy to transfer all amounts directly to the Client’s personal account. Funds are transferred by the Company within three Business Days of the date they are debited from the Client’s Account. It may take up to five Business Days for funds to be credited to the Client’s bank account, after initiation of the Company’s transfer. The Company has the right to suspend or cancel the Client’s instructions for transferring funds in any of the following cases (the list is not exhaustive):
  1. If the Client instructs the Company to transfer the funds to a third party;
  2. If the Company has reasonable grounds for suspecting that the person who gave the transfer order was not a duly authorized person;
  3. If the transfer violates prevailing legislation.

Safeguarding of Client’s Funds

Client’s funds will be held in the name of the Client and/or the name of the Company on behalf of the Client in a separate bank account specially designated as “Client account”. The Company will maintain separate records in the accounting system of its own funds/assets and funds kept on behalf of Clients so as at any time and without delay to distinguish funds held for one Client from funds held for any other Client, and from its own funds/assets. Client funds are kept off balance sheet and cannot be used to pay back creditors in the unlikely event of default of the Company. In addition, the Company will not be liable for any failure or insolvency of any bank and/or financial institution in which client funds are held, however, applicable investor compensation or deposit protection schemes may protect a proportion of Client funds.

Anti-money Laundering Provisions

According to prevailing Anti-Money Laundering and Counter Financing of Terrorism regulations, the Company shall be entitled to request the Client to provide immediately any additional information concerning the circumstances and the context of a particular transaction. The Company shall have the right not to carry out orders or instructions received from the Client as long as the Client has not supplied the information requested by the Company. The Company has the right to terminate the Agreement with the Client immediately and to prohibit the Client from withdrawing any assets if the explanations provided are inadequate.

Prohibited Trading

Generally speaking, the Company allows all types of trading methods and styles as the Company employs strict Straight Through Processing / Direct Market Access trading. The Company does reserve the right, however, to close, suspend or recoup any closed profit and loss from an Account it deems is engaging in unethical or questionable trading styles including, but not limited to, latency arbitrage, the act of “flooding” of our servers with an excessive amount of pending orders, excessive logins, “picking” & “sniping” or the use of certain automated trading systems or Expert Advisors, without notice. The Company will usually (but is not obligated to always) attempt to initially express its concern to Client or associated parties in the form of a formal warning. If the Client or associated party does not modify trading style within a reasonable amount of time following the warning, Company reserves the right to liquidate all or some open positions, close, suspend or recoup any closed profit or loss from Account, and return any remaining proceeds to Client according to Company Account closing procedures or any combination thereof.

Swap, CFD Expiration & Swap-Free Accounts

The Client will generally but not always incur a credit or debit in their Account if holding a currency, bullion or CFD position at the end of each trading session. You may view current swap rates on the Company’s trading platform, and further information about Swap at the Company’s website. Please note that once a month certain CFD’s will expire, meaning that expiration will take place one day prior to the expiration of its underlying futures contract at our closing bid/ask price. All open positions will be closed, all floating profit and loss will be realized and all pending orders will be deleted. No positions will be rolled forward into the new contract. It is up to the Client to reinitiate their own positions. Swap-Free (Syariah/Sharia) Accounts are generally but not always offered to nor obliged to offer to our clients of Muslim faith. A swap-free Account precludes the Account from either being credited or debited swap interest at the end of each trading session. The Company, however, fully reserves the right to remove the swap-free designation from any Account which is holding a position in which the client owes interest for over 5 trading days. The Company will notify the Client within 24 hours of removal of swap free designation, but is not required to notify the Client of such removal.

Client Complaints

The Client shall be required to check the content of each document, including those sent electronically by the Company or made available to the Client on the trading platform. Such documents should be regarded as authoritative. Complaints shall be addressed, in the first instance, to the Customer Support Department. If the Client receives a response from the Customer Support Department but deems that the complaint needs to be raised further the Client should, complete the Complaint Form which is publicly available on the Company’s website and send it to [email protected]. The Client must inform the Company immediately if an incorrect transaction appears on his Account. Any complaints in relation to the execution or the non-execution of an order will only be examined if raised in writing as soon as the underlying facts occurred, and in any case no later than the time that the relevant market opens on the day after the order was executed. Any claim relating to the performance or non-execution of an order will be considered only on the express condition that it be made in writing upon the occurrence of the events in question and at the latest before the opening of relevant market on the day after the execution, that is, within a 24-hour period from the time of occurrence. It should be noted that the use of an expert advisor or any other program that is used to perform technological and/or algorithmic trading, also alleviates you of any right to claim. Once this period has expired, the Client shall no longer have any rights, of any type whatsoever, against the Company. The document entitled Complaint Form, available on the website, should be used for any complaint a Client may have. The Client may complete the Complaint Form with all the information requested and may return the form to the Company as mentioned in the specific document. Clients shall contribute to the Company, in handling of Client’s claims, by providing the Customer Support Department with all necessary information, including, but not limited to:
  1. Client’s Name and Surname (for corporate clients – company name);
  2. Client’s Account login;
  3. Date and time of the issue in the platform time zone;
  4. Tickets of orders and positions involved;
  5. Detailed description of the issue.
The Client has obligation to avoid any kind of offensive vocabulary, intimidation, unsubstantiated accusation or emotional interpretation of anything related to his claim or to Company or its business.

Complaint Handling Procedure

The Company shall take decisions on Client complaints within five working days upon receipt. In the event Company is unable to take decision on the Client’s complaint within the above period, the Company shall notify the Client by telephone or by e-mail about the extension of the investigation terms. The Client accepts server log—file records as a main source of information in the context of handling of Client complaints. The Client accepts the absolute seniority of server log—file records against other sources, including client terminal log—file records. The Company shall indemnify the Client exclusively by depositing in the Client’s Account with the Company. In the event the Company deems necessary to delete one or another of Client’s tickets, such tickets shall be removed from Client’s trading terminal, and the Client’s Account balance and/or equity shall be adjusted by the summarized value of profit/loss and rollovers related to such tickets. In the event the Company deems necessary to restore one or another of Client’s tickets, such tickets shall be re-established in ‘Trade’ layout of Client’s trading terminal; summarized profit/loss and rollovers related to such tickets shall be deducted from Client’s Account balance and applied to the Client’s Account equity in connection with current market prices.

Rejected Complaints

The Company shall have the right, in its sole discretion, but not the obligation, to decline Client claims on the expiry of 24-hourly period after related issues. The Company may not accept claims handed over to Company by e-mail to any Company email address except [email protected]. The Company shall have the right to decline a Client’s claim or any of its arguments if server log—file record required for examination of such claim or arguments do not exist. Company shall have the right, in its sole discretion, but not the obligation, to decline:
  1. Client claims related to execution period of any requests or orders;
  2. Client claims related to server maintenance works, if such works was previously announced at the Company website not less than 48 hours before the server downtime.
  3. Client claims related to differences between rates quoted by the Company and similar rates quoted by other companies or institutions (including rates of underlying assets), except for claims related to manifest errors in the Company’s data feed.
  4. Client claims related to delays or interruptions of service or transmissions, or failures of performance of the server, regardless of cause, including, but not limited to, those caused by hardware or software malfunction; governmental, exchange or other regulatory action; war, terrorism, or the Company’s unpremeditated acts.

Use of the IT System

In general, the Client shall transmit instructions to the Company using the IT system provided. The Company shall communicate with the Client exclusively via the IT system. It will be the Client’s responsibility to take all necessary action to ensure that he is able to access any communications that may be sent to him. The Client is aware of the fact that using computers and the Internet exposes him to a number of risks including, in particular:
  1. The possibility that an unauthorized third party might access the Client’s Account;
  2. The possibility that the relationship between the Client and the Company might be revealed;
  3. The possibility that computer viruses might infect the Client’s computer system without the Client’s knowledge;
  4. The possibility that third parties might send messages to the Client, claiming to represent the Company.
The Client undertakes to obtain full information (and acknowledges that he alone is responsible for doing so) regarding the risks to which he may be exposed and regarding any necessary security measures. The Company will not be liable for any loss suffered by the Client resulting from IT use, including in particular the actions of unauthorized third parties passing themselves off as the Client or the Company, transmission errors, transmission failures, technical faults, overloads, breakdowns (including but not limited to maintenance activities due to the maintenance system), system downtime, malfunctions, interference, attacks (e.g. hacking), blocked communications and networks (e.g. mail bombing) or other failures, regardless of who is responsible. The Client will therefore take the necessary precautions to ensure the confidentiality of all information, including, among other things, the system password, user ID, portfolio details, transaction activities, Account balances, as well as all other information and all orders. The Client undertakes to notify the Company immediately if it comes to his attention that his system password is being used without authorization. The Client hereby assumes all liability arising in connection with technical access to the Company’s services. The Client shall be responsible for acquiring, installing and configuring the appropriate hardware and software, in order to set up his connection with the Company’s online services. The Company shall not be liable for any actions of the access provider and/or hardware that it has not supplied itself.

Recording of Conversations

The Client acknowledges, accepts and consents the fact that the Company may record at will and/or produce a written record of telephone conversations, internet based conversations (chat) and meeting between the Company and the Client. The Client allows the Company to use these recordings or the transcripts of these recordings as evidence in relation to any parties, to disclose such information as part of any litigation or litigation that it expects to arise between the Client and the Company. Technical reasons could prevent the Company from recording a conversation and the recordings or the transcripts produced by the Company will be destroyed in accordance with the Company’s normal practice. Therefore, the Client must not expect that these recordings will be available.

Outsourcing

The Company provides its Clients with trading services using an internet based trading system. The Company has outsourced the development, physical hosting, maintenance and updating of its online trading platform to a foreign entity. The Company’s Clients will not have any direct contact with this entity and the Company will take all reasonable steps to ensure the security of all the data regarding the identity of its Clients. The Client hereby acknowledges and accepts the fact that the Company outsources such activities.

Right of Set-off

The Company shall have the right, at its discretion and without the Client’s authorization, of a ‘set-off’ against the Client’s claims for all claims arising out of its relationship with the Client. This right of set-off shall exist regardless of the expiry date of any claims, the currency in which they are denominated, and their nature.

Confidential Information

The Company shall have the right, without the need to inform the Client beforehand, to disclose any details of the Client’s transactions or any other information, that may be necessary for the purposes of complying with any requirements of any person entitled to require such a disclosure by law or with any Company obligation, to proceed with the said disclosure to any person. The Company will handle all the Client’s personal data in accordance with the relevant laws and regulations for the protection of personal data.

General Provisions

The provision of services to the Client is subject to all applicable laws, regulations, and other provisions or market practices to which the Company is subject to. If any provision of this Agreement shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, this shall not affect the other provisions of this Agreement which shall remain in full force and effect. No party shall without the prior consent of the other parties assign, transfer, charge or deal in any other manner with this Agreement or any of its rights under it.

Amendments

This Agreement may be amended at any time by the Company as may be applicable due to regulatory amendments as well as internal policies. Clients are expected to monitor and ensure they are up to date with the latest amendments made; to this end the Company will ensure to have visible in its Business Terms the date of the most recent amendments made.

Account Limitation

The Company permits each Client to open up to 5 Accounts, to accommodate for the below possible scenarios of the Client:
  1. To Segregate different trading strategies
  2. To use/benefit from different Account types offered by the Co
  3. To maintain Accounts in different base currencies
Should a Client wish to have more than 5 Accounts with the Company, the Company may consider on ad hoc basis to allow for this, provided a valid and clear reason as to why more Accounts are needed, is provided by the Client.

Termination

This Agreement will be valid until its termination as provided below. The Company reserves the right to terminate the Agreement with the Client at any time with immediate effect and without giving reasons. The Company shall have the right to freely set the consequences of such termination for the Client’s positions without incurring any liability. The Company will no longer carry out any orders for the Client upon termination of the Agreement with the Client. The Company will pay the Client any pending obligations owed to him by the Company. The Client has the right to terminate the Agreement by giving a written notice of at least seven Business Days specifying the date of termination. The Client is obliged to pay any pending obligations towards the Company, including but not limited to any pending fee or amount payable to the Company, any charge or expenses incurred or to be incurred as a result of the termination of the Agreement as well as any other expenses that might arise during the settlement of the pending obligations. The Company has the right to subtract all above pending obligations from the Client Account. The termination of the Agreement does not influence in any way the rights, contractual provisions, commitments, obligations and liabilities of either party.

Applicable Laws and Place of Jurisdiction

The relationship between the parties shall be governed solely by and construed solely in accordance with the Republic of Malaysia laws. The courts of the Republic of Malaysia shall have sole jurisdiction to hear any litigation between the parties arising out of or in connection with this Agreement. Nevertheless, the Company reserves the right to initiate proceedings before any competent court or jurisdiction, including in particular the courts in the country of which the Client is a citizen or in which he resides.

Declaration

The Client declares that he has read, understood and accepted these Business Terms in their entirety. The Client declares that he has read, understood and accepted the document entitled Risk Disclosure and he has understood the warnings contained in this document. By accepting these Business Terms, the Client declares that he has read, understood and accepted all the information provided in the ancillary documents which are available on the website of the Company: The Client declares that he consents and agrees to direct advertising through cold calling by any means, including but not limited to, by phone, email and facsimile. The Client declares that he is over 18 years old and/or has full capacity (in case of legal entities) to enter and be bound by this Agreement and that he is not prohibited by the legislation/regulations of his country of residence to enter into this Agreement. The Client declares that all information provided in the “Account application form” is true, accurate, complete and not misleading and that he undertakes to inform the Company of any changes that might occur to the data/information provided in the “Account application form”.

Company’s Contact Details

Clients shall communicate with the Company with the communication methods described within this Agreement at the following address: Correspondence Address: Ortega Capital Limited (St. Vincent) Suite 305, Griffith Corporate Centre, Beachmont P.O. Box 1510, Kingstown, St. Vincent and the Grenadines Customer Service: E-mail: [email protected]

Terms of Use

Terms of Use

These Terms of Use are applicable to the web pages, services, content, databases and information together with the agreements and software (collectively referred to as “Services”) provided by Ortega Capital Limited to which you may have access either by using Ortega Capital Limited’s website or, upon request, in hard copy. The content and information included in these Services are provided by Ortega Capital Limited and/or its third party suppliers (collectively, the “Information Providers”). These Services are made available by Ortega Capital Limited subject to the terms and conditions stated below.

Agreement

By accessing these Services, you agree be bound by the terms of this Terms of Use and the Disclaimer. If you do not agree with any part of this Terms of Use and/or the Disclaimer, you must immediately discontinue your access and any use of the Services. You agree that Ortega Capital Limited may modify this Terms of Use at any time in its sole discretion and without prior notice to you. Such changes may be published online and will be effective upon publication. You should review this Terms of Use periodically to ensure familiarity with its content. By continuing to access and/or use the Services, you are agreeing to be bound by the current version of this Terms of Use.

Use of the Services

These Services are intended for your personal, non-commercial use.

By using the above-mentioned Services and the software provided by Ortega Capital Limited, you acknowledge and agree that:

  • You are prohibited to use, store, reproduce, display, modify, sell, publish, transmit and distribute, or commercially exploit the Services without prior written permission of Ortega Capital Limited and/or any third-party Information Provider(s);
  • Ortega Capital Limited and/or any third-party Information Provider(s) reserve all rights to proprietary information (including, but not limited to, all intellectual property rights such as; patents, trademarks, service marks, copyrights, database rights, topography rights, industrial design, know-how, trade secrets, trade names, logos, designs, symbols, emblems, insignia, slogans, drawings, plans and other identifying materials, in all forms whether or not registered or capable of registration and any other rights relating to intellectual property in accordance with the applicable laws) subsisting in or relating to the Services.
  • You shall not use the Information for any unlawful or unauthorized purpose.
  • The use and interpretation of the Services require skill and judgement, you shall at all times exercise your own judgement in the use and interpretation of the Services.
  • You are responsible for all statements made and acts or omissions that occur while your user identification name (or “User Name”) and passwords are being used.
  • You are responsible for protecting and securing your User Name and password from unauthorized use and disclosure. If you become aware of, or believe there has been, any breach of security for any of your information stored on Ortega Capital Limited’s website, such as the theft or unauthorized use of your User Name, password, or any other information, you are required to notify Ortega Capital Limited immediately.
  • The Services and the software have been prepared for informational purposes only without regard to any particular user’s investment objectives, financial situation, or means, and Ortega Capital Limited is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. Certain transactions, including those involving futures, options, and other complex derivatives, give rise to substantial risk and are not suitable for all investors.
  • The fact that Ortega Capital Limited has made the Services available to you constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described on the website is suitable or appropriate for you. Many of the products described in the Services involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained here with respect to any product should not be considered to be a comprehensive disclosure of all risks or a complete discussion of the risks which are mentioned. You should not construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice.

Termination

Ortega Capital Limited may exercise full discretion in modifying or discontinuing any part or whole of the Services subject to this Terms of Use at any time without cause or prior notice.

Disclaimer of Warranties

Ortega Capital Limited and the Information Provider(s) expressly disclaim all warranties of any kind, express or implied, including without limitation any warranty of satisfactory quality, fitness for a particular purpose or non-infringement.

Although the Services provided have been obtained from sources deemed to be reliable, the Services are provided on an “as-is” basis, and Ortega Capital Limited and/or any third-party Information Provider(s) provide the Services without responsibility for accuracy and correctness. By using the Services you agree that errors and/or omissions contained in such information shall not be made the basis for any claim, demand or cause of action against Ortega Capital Limited or any Information Provider(s).

Limited Liability

Neither Ortega Capital Limited nor any of its third-party Information Providers shall be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to this Terms of Use or resulting from the use or the inability to use the Services, including but not limited to damages for loss of profits, use, data or other intangible damages, even if such party has been advised of the possibility of such damages.

Miscellaneous

By agreeing to this Terms of Use you acknowledge and agree that Ortega Capital Limited, in the interest of security, reserves the right to record all telephone conversations, internet conversations including chat, and any meetings between you and Ortega Capital Limited.

You furthermore agree that Ortega Capital Limited reserves the right to monitor your use of the Services on the website and that the resultant information may be used by Ortega Capital Limited for its internal business purposes.

Any claims arising from this Terms of Use will be governed by and construed in accordance with the laws of the Republic of Malaysia and shall be subject to the exclusive jurisdiction of the Courts of Malaysia.

Privacy Policy

Privacy Policy

Ortega Capital Limited respects your privacy and your personal data and are committed to ensuring that your privacy is protected.

This privacy statement refers to www.ortegacapital.com which shall include, without limitation, the home page and all other pages under the same domain name, and all content therein as provided by Ortega Capital.

The content of this website is protected under international copyright conventions and any reproduction of reasonable portions of this website is permitted provided that:

  • such reproductions are made available free of charge and for non-commercial purposes
  • such reproductions are properly attributed to Ortega Capital
  • the portion of content or images being reproduced is not altered or made available in a manner that modifies the content or presents the said content in a false light, and
  • due notice of the reproduction is made on the material in which the reproduced content is made available.

The permission to recopy does not allow for incorporation of any portion of the website in any work or publication, whether in hard copy, electronic or any other form or for commercial purposes.

Information We Collect

www.ortegacapital.com may from time to time request and collect personally identifiable information such as name, identity card number, address, phone number, e-mail address and financial information through various means, for example via a registration requirement, surveys, questions, comments and communications to and from the website. All such personal information is processed in accordance with the Malaysian Personal Data Protection Act 2010 (“the Act”).

How We Use Cookies

“Cookies” is information placed on an individual’s computer hard drive to enable the individual to more easily communicate and interact with a website. We may use cookies to customise your experience on our website. Cookies help us to monitor how many times a user has visited a particular website and identify which pages have been accessed.

 A cookie does not give us access to your computer or any information about you, other than the data you choose to share with us. If you prefer you may decline any cookies from www.ortegacapital.com through the management of your web browser. This may prevent you from taking full advantage of the website.

Internet Protocol Address

An internet protocol address is a number that is assigned to your computer when you use the internet. This information does not in itself contain any personally identifiable information. However your internet protocol address may be used to help identify you or more specifically your computer during a particular session and to gather broad demographic data. Please be aware that your internet protocol address may be collected to assist us in identifying problems with our server and administering the website.

How We Use Your Personal Information

The security of all personal data and related information that we collect and store is critical and we use good practices to make sure that all data is stored and processed securely.

Ortega Capital Limited may use information collected on and through www.ortegacapital.com to comply with the specific purpose for which such information was collected as mentioned at the time such information was requested and subsequently provided.

In certain instances you will have an opportunity to limit the usage of the information collected or when permission to use the information is requested.

Sharing of Your Personal Information

When using your information for the purpose for which it was collected, we may need to disclose it within our group of companies and to our related and/or associated companies, licensees, business partners and/or service providers, whether within or outside Malaysia. When this happens we will require such third parties with whom we share your information with to handle your information using the same level of care that we apply.

We may use your personal information to send you promotional information about third parties which we think you may find interesting if you tell us that you wish this to happen. If you have previously agreed to us using your personal information for direct marketing purposes, you may change your mind at any time by writing to or emailing us.

Links to Other Websites

Please keep in mind that www.ortegacapital.com may contain links or references to other websites outside of our control. Once you have used these links to leave our website, you should note that we do not have any control over that other website. Therefore, we shall not be responsible for the protection and privacy of any information which you provide whilst visiting such websites and this privacy statement does not govern such websites. You are required to exercise caution and look at the privacy statement applicable to the website in question.

Access and Correction of Your Personal Information

Ortega Capital Limited strives to keep your personal information accurately recorded.

If you wish to access any of your personal information that we hold or would like to correct any errors in that information, please contact us using the contact details set out in the Contacting Us section of this statement, so that we can consider and respond to your request. We may apply an administrative charge for providing access to your personal information in response to a request.

You may also use these contact details to notify us of any privacy complaint you have against us, including if you think that we have failed to comply with the Act. We are committed to acknowledging your complaint in a prompt manner and will give you an estimated timeframe for when we will respond to your complaint.

Updates to this Privacy Statement

Ortega Capital Limited reserve the right to occasionally update this privacy statement. When we do, we will revise the Last Updated date at the bottom of the privacy statement. If we make any material changes in the way we collect, use and/or share personal information that we collect about you, we will notify you by posting notice of the changes on the website.

Therefore, you are encouraged to check the latest version of the privacy policy whenever you visit our website for any updates or changes.

Contacting Us

For any inquiries or complaint or to request access and/or correction of the personal data or relating to this privacy statement or otherwise relating to any use of your personal data by us, you may contact us at the following contact details.

Ortega Capital Limited
Unit 3A-16, Level 3A, Labuan Times Square,
Federal Territory of Labuan,
87000, Malaysia

E-mail: [email protected]

Risk Disclosure

Risk Disclosure – Ortega Capital Limited (Labuan)

Ortega Capital Limited is a Money Broker registered with the Labuan Financial Services Authority (“LFSA”) under registration number: LL13354 and regulated by the same under license number No. MB/17/0014 (hereafter the “Company”). The domain name, https://www.ortegacapital.com is owned by the Company and its head office is located in the Federal Territory of Labuan, Malaysia.

The Client knows that transactions in the Financial Instruments as are described in the Business Terms involve a high degree of risk and are not suitable for many members of the public.

Such transactions should be entered into only by persons who have read, understood and familiarized themselves with the style of exercise, the nature and extent of rights and obligations and the associated risks.

This notice does not purport to disclose or discuss all of the risks and other significant aspects of any transaction, so the Client undertakes and warrants to consult with his own legal, tax and financial advisers prior to entering into any particular transaction.

The Company does not and cannot guarantee the initial capital of the Client’s portfolio or its value at any time or any money invested in any financial instrument.

The Client unreservedly acknowledges and accepts 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 unreservedly acknowledges and accepts 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 accepts and declares that he is willing to undertake this risk.

The Client should not engage in any investment directly or indirectly in Financial Instruments unless he knows and understands the risks involved for each one of the Financial Instruments.

The Client acknowledges and warrants that he/she is aware of the risks, which may be involved in any investment directly or indirectly in Financial Instruments. He fully understands:

The extent of the economic risk to which he is exposed as a result of such transactions (and have determined that such risk is suitable for him in light of my specific experience in relation to the transaction and my financial objectives, circumstances and (resources); the nature and fundamentals of the transaction and the market underlying such transactions; the legal terms and conditions for such transactions.

The Client also acknowledges and warrants that he fully understands the terms and conditions of the transactions to be undertaken, including, without limitation, the terms as to price, term, expiration date, restrictions and of the terms material to the transaction; any terms describing risk factors, such as volatility, liquidity, and so on; and the circumstances under which he may become obliged to make or take delivery of a leveraged transaction.

The Client acknowledges that the high degree of leverage can work against him as well as for him due to fluctuating market conditions. Trading in such financial instruments can lead to large losses as well as gains in response to a small market movement.

The Client acknowledges that he/she can lose more than the total capital deposited and that he may be subjected to negative balance recovery actions by the Company.

The Client acknowledges and accepts that he/she may sustain substantial losses on a contract or trade if the market conditions move against his position. He also acknowledges that it is in his interest to fully understand the impact of market movements, in particular the extent of profit/loss he would be exposed to when there is an upward or downward movement in the relevant rates and the extent of loss if he has to liquidate a position if market conditions move against him.

The Client also understands that under certain market conditions he/she may find it difficult or impossible to liquidate a position, to assess a fair price or assess risk exposure. This can happen, for example, where the market for a transaction is illiquid or where there is a failure in electronic or telecommunications systems, or where there is the occurrence of an event commonly known as “force majeure”.

The Client knows that placing contingent orders, such as “stop-loss” orders, will not necessarily limit his/her losses to the intended amounts, as it may be impossible to execute such orders under certain market conditions.

The Client also acknowledge that because the prices and characteristics of over-the-counter transactions are individually negotiated and there is no central source for obtaining prices, there may be inefficiencies in transaction pricing.

The Client consequently accepts that the Company cannot and does not warrant that the prices provided to him / her any time be the best prices available to him. The Company follows an Order Execution Policy.

The Client declares and warrants that he/she has read, comprehends and unreservedly accepts the following:

  1. Information of the previous performance of a Financial Instrument does not guarantee its current and/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.
  2. Some Financial Instruments may not become immediately liquid as a result e.g. of reduced demand and the Client may not be in a position to sell them or easily obtain information on the value of these Financial Instruments or the extent of the associated risks.
  3. 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.
  4. 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.
  5. A derivative financial instrument (i.e. option, future, forward, swap, contract for difference) may be a non-delivery spot transaction giving an opportunity to make profit on changes in currency rates, commodity or indices.
  6. The value of the derivative financial instrument may be directly affected by the price of the security or any other underlying asset which is the object of the acquisition.
  7. The Client must not purchase a derivative financial instrument unless he is willing to undertake the risks of losing entirely all the money which he has invested.
  8. The Client acknowledges and accepts that there may be other risks which are not contained above.

The Client should take the risk that his trades in Financial Instruments may be or become subject to tax and/or any other duty for example because of changes in legislation or his personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. The Client is personally liable for any taxes and/or any other duty which may accrue in respect of his trades.

Prior to applying for an account the Client should consider carefully whether investing in a specific Financial Instrument is suitable for him in the light of his circumstances and financial resources. Investing in some Financial Instruments entails the use of “leverage”. Leverage means the use of various Financial Instruments or borrowed capital, such as margin, to increase the potential return of an investment. In considering whether to engage in this form of investment, the Client should be aware of the following:

  1. The Client may be called upon to deposit substantial additional margin, at short notice, to maintain his investment. If the Client does not provide such additional funds within the time required, his investment position may be closed at a loss and he will be liable for any resulting deficit. With regards to transactions in derivative financial instruments, the Company shall provide through its Trading Platforms a Margin Call when the margin is less than 100% and is entitled, upon its discretion, to start closing positions when margin is less than 50% (Stop-out Level). The sole responsibility for observance of both the Margin Call and the Stop-out Call lies upon the Client and can be utilized through the Market Watch section of the Trading Platforms.
  2. Such transactions may not be undertaken on a recognized or designated investment exchange and, accordingly, they may expose the Client to greater risks than exchange transactions. The terms and conditions and trading rules may be established solely by the counterparty. The Client may only be able to close an open position of any given contract during the opening hours of the exchange. The Client may also have to close any position with the counterparty with whom it was originally entered into. In regard to transactions in financial instruments with the Company, the Company is using an Electronic Trading Platform for transactions in Financial Instruments which does not fall into the definition of a recognized exchange as this is not a multilateral trading facility and the Company is always the counterparty in every Client transaction.
  3. The Company may not provide the Client with investment advice relating to investments or possible transactions in investments or make investment recommendations of any kind. This prohibition is subject to an exception where advice given amounts to the giving of factual market information or information, in relation to a transaction about which the Client has enquired, as to transaction procedures, potential risks involved and how those risks may be minimized.

Risks of Online Trading

The Client’s access to the Company’s Electronic Trading Platform, or any portion thereof, may be restricted, intermittent or unavailable during periods of peak demands, extreme market volatility, systems upgrades or other reasons. The Company makes no express or implied representations or warranties to the Client regarding the availability, usability, condition or operation thereof. The Company does not warrant that access to or use of any of the Electronic Trading Platform will be uninterrupted or error free or that the Electronic Trading Platform will meet any particular requirements or criteria of processing, performance or quality.

Under no circumstances, including negligence, shall the Company or anyone else involved in creating, producing, delivering or managing any part of the Electronic Trading Platform be liable for any direct, indirect, incidental, special or consequential damages that result from the use of or inability to use any part of the Electronic Trading Platform, or out of any breach of any warranty, including, without limitation, those for business interruption or loss of profits.

The Client expressly agrees that the Client’s use of the Electronic Trading Platform is of the Client’s sole risk. The Client assumes full responsibility and risk of loss resulting from use of, or materials or data obtained through the Electronic Trading Platform. Neither the Company, nor any of the Company’s directors, officers, employees, agents, contractors, affiliates, third party vendors, facilities, information providers, licensors, exchanges, clearing organizations or other suppliers providing data, information, or services, warrant:

  1. that the Electronic Trading Platform will be uninterrupted or error free at most of the times; nor does the Company make any warranty as to the results that may be obtained from the use of the Electronic Trading Platform or as to the timeliness, sequence, accuracy, completeness, reliability or content of any information, service, or transaction provided through the Electronic Trading Platform; or
  2. that the Client’s systems will be unaffected or undamaged by any malicious software; or
  3. that any data will not be intercepted by any third party.

In the event that Client’s access to the Electronic Trading Platform or any portion thereof is restricted or unavailable, the Client agrees to use other means to place the orders or access information, such as calling the Company and/or the Company representative.

By placing an order through the Electronic Trading Platform, the Client acknowledges that orders may not be reviewed by a registered representative prior to execution. The Client agrees that the Company is not liable to the Client for any losses, lost opportunities or increased commissions that may result from the Client’s inability to use the Electronic Trading Platform to place orders or access information.

This notice cannot and does not disclose or explain all of the risks and other significant aspects involved in dealing in all financial instrument and investment services. The Client will be informed in more detail of the risks involved based on the categorization assigned to him by the Company and the investment services and financial instruments selected.

Risk Disclosure – Ortega Capital Limited (St Vincent)

Ortega Capital Limited (St. Vincent), Suite 305, Griffith Corporate Centre, Beachmont P.O. Box 1510, Kingstown, St. Vincent and the Grenadines, is incorporated under the registered number 22746 IBC-2015 by the Registrar of International Business Companies, and registered with the Financial Services Authority of St. Vincent and the Grenadines (hereafter the “Company”). The Company is licensed to use the domain name, https://www.ortegacapital.com.

The Client knows that transactions in the Financial Instruments as are described in the Business Terms involve a high degree of risk and are not suitable for many members of the public.

Such transactions should be entered into only by persons who have read, understood and familiarized themselves with the style of exercise, the nature and extent of rights and obligations and the associated risks.

This notice does not purport to disclose or discuss all of the risks and other significant aspects of any transaction, so the Client undertakes and warrants to consult with his own legal, tax and financial advisers prior to entering into any particular transaction.

The Company does not and cannot guarantee the initial capital of the Client’s portfolio or its value at any time or any money invested in any financial instrument.

The Client unreservedly acknowledges and accepts 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 unreservedly acknowledges and accepts 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 accepts and declares that he is willing to undertake this risk.

The Client should not engage in any investment directly or indirectly in Financial Instruments unless he knows and understands the risks involved for each one of the Financial Instruments.

The Client acknowledges and warrants that he/she is aware of the risks, which may be involved in any investment directly or indirectly in Financial Instruments. He fully understands:

The extent of the economic risk to which he is exposed as a result of such transactions (and have determined that such risk is suitable for him in light of my specific experience in relation to the transaction and my financial objectives, circumstances and (resources); the nature and fundamentals of the transaction and the market underlying such transactions; the legal terms and conditions for such transactions.

The Client also acknowledges and warrants that he fully understands the terms and conditions of the transactions to be undertaken, including, without limitation, the terms as to price, term, expiration date, restrictions and of the terms material to the transaction; any terms describing risk factors, such as volatility, liquidity, and so on; and the circumstances under which he may become obliged to make or take delivery of a leveraged transaction.

The Client acknowledges that the high degree of leverage can work against him as well as for him due to fluctuating market conditions. Trading in such financial instruments can lead to large losses as well as gains in response to a small market movement.

The Client acknowledges that he/she can lose more than the total capital deposited and that he may be subjected to negative balance recovery actions by the Company.

The Client acknowledges and accepts that he/she may sustain substantial losses on a contract or trade if the market conditions move against his position. He also acknowledges that it is in his interest to fully understand the impact of market movements, in particular the extent of profit/loss he would be exposed to when there is an upward or downward movement in the relevant rates and the extent of loss if he has to liquidate a position if market conditions move against him.

The Client also understands that under certain market conditions he/she may find it difficult or impossible to liquidate a position, to assess a fair price or assess risk exposure. This can happen, for example, where the market for a transaction is illiquid or where there is a failure in electronic or telecommunications systems, or where there is the occurrence of an event commonly known as “force majeure”.

The Client knows that placing contingent orders, such as “stop-loss” orders, will not necessarily limit his/her losses to the intended amounts, as it may be impossible to execute such orders under certain market conditions.

The Client also acknowledge that because the prices and characteristics of over-the-counter transactions are individually negotiated and there is no central source for obtaining prices, there may be inefficiencies in transaction pricing.

The Client consequently accepts that the Company cannot and does not warrant that the prices provided to him / her any time be the best prices available to him. The Company follows an Order Execution Policy.

The Client declares and warrants that he/she has read, comprehends and unreservedly accepts the following:

  1. Information of the previous performance of a Financial Instrument does not guarantee its current and/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.
  2. Some Financial Instruments may not become immediately liquid as a result e.g. of reduced demand and the Client may not be in a position to sell them or easily obtain information on the value of these Financial Instruments or the extent of the associated risks.
  3. 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.
  4. 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.
  5. A derivative financial instrument (i.e. option, future, forward, swap, contract for difference) may be a non-delivery spot transaction giving an opportunity to make profit on changes in currency rates, commodity or indices.
  6. The value of the derivative financial instrument may be directly affected by the price of the security or any other underlying asset which is the object of the acquisition.
  7. The Client must not purchase a derivative financial instrument unless he is willing to undertake the risks of losing entirely all the money which he has invested.
  8. The Client acknowledges and accepts that there may be other risks which are not contained above.

The Client should take the risk that his trades in Financial Instruments may be or become subject to tax and/or any other duty for example because of changes in legislation or his personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. The Client is personally liable for any taxes and/or any other duty which may accrue in respect of his trades.

Prior to applying for an account the Client should consider carefully whether investing in a specific Financial Instrument is suitable for him in the light of his circumstances and financial resources. Investing in some Financial Instruments entails the use of “leverage”. Leverage means the use of various Financial Instruments or borrowed capital, such as margin, to increase the potential return of an investment. In considering whether to engage in this form of investment, the Client should be aware of the following:

  1. The Client may be called upon to deposit substantial additional margin, at short notice, to maintain his investment. If the Client does not provide such additional funds within the time required, his investment position may be closed at a loss and he will be liable for any resulting deficit. With regards to transactions in derivative financial instruments, the Company shall provide through its Trading Platforms a Margin Call when the margin is less than 100% and is entitled, upon its discretion, to start closing positions when margin is less than 50% (Stop-out Level). The sole responsibility for observance of both the Margin Call and the Stop-out Call lies upon the Client and can be utilized through the Market Watch section of the Trading Platforms.
  2. Such transactions may not be undertaken on a recognized or designated investment exchange and, accordingly, they may expose the Client to greater risks than exchange transactions. The terms and conditions and trading rules may be established solely by the counterparty. The Client may only be able to close an open position of any given contract during the opening hours of the exchange. The Client may also have to close any position with the counterparty with whom it was originally entered into. In regard to transactions in financial instruments with the Company, the Company is using an Electronic Trading Platform for transactions in Financial Instruments which does not fall into the definition of a recognized exchange as this is not a multilateral trading facility and the Company is always the counterparty in every Client transaction.
  3. The Company may not provide the Client with investment advice relating to investments or possible transactions in investments or make investment recommendations of any kind. This prohibition is subject to an exception where advice given amounts to the giving of factual market information or information, in relation to a transaction about which the Client has enquired, as to transaction procedures, potential risks involved and how those risks may be minimized.

Risks of Online Trading

The Client’s access to the Company’s Electronic Trading Platform, or any portion thereof, may be restricted, intermittent or unavailable during periods of peak demands, extreme market volatility, systems upgrades or other reasons. The Company makes no express or implied representations or warranties to the Client regarding the availability, usability, condition or operation thereof. The Company does not warrant that access to or use of any of the Electronic Trading Platform will be uninterrupted or error free or that the Electronic Trading Platform will meet any particular requirements or criteria of processing, performance or quality.

Under no circumstances, including negligence, shall the Company or anyone else involved in creating, producing, delivering or managing any part of the Electronic Trading Platform be liable for any direct, indirect, incidental, special or consequential damages that result from the use of or inability to use any part of the Electronic Trading Platform, or out of any breach of any warranty, including, without limitation, those for business interruption or loss of profits.

The Client expressly agrees that the Client’s use of the Electronic Trading Platform is of the Client’s sole risk. The Client assumes full responsibility and risk of loss resulting from use of, or materials or data obtained through the Electronic Trading Platform. Neither the Company, nor any of the Company’s directors, officers, employees, agents, contractors, affiliates, third party vendors, facilities, information providers, licensors, exchanges, clearing organizations or other suppliers providing data, information, or services, warrant:

  1. that the Electronic Trading Platform will be uninterrupted or error free at most of the times; nor does the Company make any warranty as to the results that may be obtained from the use of the Electronic Trading Platform or as to the timeliness, sequence, accuracy, completeness, reliability or content of any information, service, or transaction provided through the Electronic Trading Platform; or
  2. that the Client’s systems will be unaffected or undamaged by any malicious software; or
  3. that any data will not be intercepted by any third party.

In the event that Client’s access to the Electronic Trading Platform or any portion thereof is restricted or unavailable, the Client agrees to use other means to place the orders or access information, such as calling the Company and/or the Company representative.

By placing an order through the Electronic Trading Platform, the Client acknowledges that orders may not be reviewed by a registered representative prior to execution. The Client agrees that the Company is not liable to the Client for any losses, lost opportunities or increased commissions that may result from the Client’s inability to use the Electronic Trading Platform to place orders or access information.

This notice cannot and does not disclose or explain all of the risks and other significant aspects involved in dealing in all financial instrument and investment services. The Client will be informed in more detail of the risks involved based on the categorization assigned to him by the Company and the investment services and financial instruments selected.

Order Execution Policy

Order Execution Policy – Ortega Capital Limited (Labuan)

Introduction

Ortega Capital Limited is a Money Broker registered with the Labuan Financial Services Authority (“LFSA”) under registration number: LL13354 and regulated by the same under license number No. MB/17/0014 (hereafter the “Company”). The domain name, https://www.ortegacapital.com is owned by the Company and its head office is located in the Federal Territory of Labuan, Malaysia.

For the purposes of best practices and corporate governance, the Company is committed to provide its Clients and potential Clients with its Order Execution Policy (hereinafter the “Policy”).

The Company is committed to take all reasonable steps to obtain the best possible result (or “best execution”) on behalf of its Clients either when executing Client Orders or receiving and transmitting Orders for execution. These steps set out to put in place an execution policy which sets out how it will obtain best execution for its Clients and to provide appropriate information to its Clients on its Order Execution Policy.

This Policy forms part of our Agreement as defined in the Business Terms. Therefore, by entering into an Agreement with the Company, you are also agreeing to the terms of our Financial Instruments Order Execution Policy, as set out in this document.

Definitions

For the purposes of this policy, the following words and expressions shall have the meaning set out next to them:

“Financial Instruments”, when used hereinafter, unless the context requires otherwise, shall mean Foreign Exchange and Contracts for Difference.

“Order”, when used hereinafter, unless the context requires otherwise, shall mean an instruction to buy or sell a Financial Instrument which is accepted by the Company for transmission to a third party.

“Execution Venue”, when used hereinafter, unless the context requires otherwise, shall mean a market maker, or other liquidity provider or entity that performs a similar function in a third country to the function performed by any of the foregoing.

“Execution Factors”, when used hereinafter, unless the context requires otherwise, shall mean those factors listed in paragraph “Best Execution Factors” of this Policy.

“Execution Criteria”, when used hereinafter, unless the context requires otherwise, shall mean those factors listed in paragraph “Best Execution Criteria” of this Policy.

“Multilateral Trading Facility (“MTF”)”, when used hereinafter, unless the context requires otherwise, shall mean a multilateral system, operated by an investment firm or a market operator, which brings together multiple third party buying and selling interest in Financial Instruments and in a way that results in a contract.

Scope and Services

This Policy applies to all Clients except counterparty clients. Therefore, if the Company classifies the Client as an eligible counterparty, this Policy does not apply to the respective Client.

This Policy applies when executing transactions with Clients for the Financial Instruments provided by the Company. The Financial Instruments provided by the Company are derivatives of an underlying Financial Instrument, and it is up to the Company’s discretion to decide which types of Financial Instruments to make available and to publish the prices at which these can be traded.

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the Company has assessed to provide for the best execution.

The Client is given the option to place with the Company the following Orders for execution in the following ways:

  1. The Client places a “Market Order” which is an Order instantly executed against a price that the Company has provided. The Client may attach to a Market Order a Stop Loss and/or Take Profit. Stop Loss is an Order to limit Client’s loss, whereas Take Profit is an Order to limit Client’s profit.
  2. The Client places a “Pending Order”, which is an Order to be executed at a later time at the price that the Client specifies. The Company will monitor the Pending Order and when the price provided by the Company reaches the price specified by the Client, the Order will be executed at that price. The following types of Pending Orders are available: Buy Limit, Buy Stop, Sell Limit and Sell Stop. The Client may attach to any Pending Order a Stop Loss and/or Take Profit.

The Client may modify an Order before it is executed. The Client has no right to change or remove Stop Loss, Take Profit and Pending Orders if the price has reached the level of the Order execution.

Best Execution Factors

The Company shall take all reasonable steps to obtain the best possible result for its Clients taking into account the following factors when executing Client’s Orders against the Company’s quoted prices:

A. Price:

  • Bid – Ask Spread: For any given Financial Instrument the Company will quote two prices: the higher price (“ASK”) at which the Client can buy (go long) that Financial Instrument, and the lower price (“BID”) at which the Client can sell (go short) that Financial Instrument; collectively they are referred to as the Company’s price. The difference between the lower and the higher price of a given Financial Instrument is the spread.
  • Pending Orders: Such Orders as Buy Limit, Buy Stop and Stop Loss / Take profit for opened short position are executed at ASK price. Such Orders as Sell Limit, Sell Stop and Stop Loss / Take profit for opened long position are executed at BID price.
  • Company’s price: The Company’s price for a given Financial Instrument is calculated by reference to the price of the relevant underlying Financial Instrument, which the Company obtains from third party external reference sources. The Company’s prices are constructed with reference to the given ‘Spreads and Conditions’ policy, which can be found on the Company’s website. The Company updates its prices as frequently as the limitations of technology and communications links allow. The Company reviews it’s used third party external reference sources at least once a year, to ensure that the data obtained continue to be competitive. The Company will not quote any price outside Company’s operations time (see Execution Venue below) therefore no Orders can be placed by the Client during that time.

B. Costs:

For opening a position in some types of Financial Instruments the Client may be required to pay commission or financing fees, if applicable, the amount of which is disclosed in the ‘Spreads and Conditions’ policy section on the Company’s website.

  • Commissions: Commissions may be charged either in the form of a percentage of the overall value of the trade or as fixed amount.
  • Financing Fee: In the case of financing fees, the value of opened positions in some types of Financial Instruments is increased or reduced by a daily financing fee “swap” throughout the life of the contract. Financing fees are based on prevailing market interest rates, which may vary over time. Details of daily financing fees applied are available under Spreads and Conditions section in the Company’s website. For all types of Financial Instruments that the Company offers, the commission and financing fees are not incorporated into the Company’s quoted price and are instead charged explicitly to the Client account.

C. Speed of Execution:

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Financial Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the company has assessed to be the best execution. The Company places a significant importance when executing Client’s Orders and strives to offer high speed of execution within the limitations of technology and communications links.

If the Client undertakes transactions on an electronic system, like the Company’s Electronic Trading Platform, he/she will be exposed to risks associated with the system including the failure of hardware and software (Internet/Servers). The result of any system failure may be that the Client’s Order is either not executed according to the Client’s instructions or it is not executed at all. The Company does not accept any liability in the case of such a failure. The use of wireless connection or dial-up connection or any other form of unstable connection at the Client’s end, may result in poor or interrupted connectivity or lack of signal strength causing delays in the transmission of data between the Client and the Company when using the Company’s Electronic Trading Platform. This delay may result in sending to the Company out of date “Market Orders”.

In this case the Company will update the price and execute the Order at the market price available. The Client may request the Company to execute upon receipt instructions conveyed by e-mail or any other written or oral means of communication that each of the present and future account holders, attorneys and duly authorized representatives shall give individually to the Company, even if these instructions are not followed by a confirmation in writing. The Company does not accept any liability in case of misunderstanding, error in the identification of the person giving the instruction or other errors on its part related to such method of communication and which may involve losses or other inconveniences for the Client. The Company reserves the right not to execute instructions transmitted by telephone or fax. Telephone conversations may be recorded, and you will accept such recordings as conclusive and binding evidence of the instructions.

D. Likelihood of Execution:

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Financial Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the company has assessed to be the best execution. The Company places a significant importance when executing Client’s Orders and strives to offer high speed of execution within the limitations of technology and communications links.

The Company seeks to execute all Orders placed by its Clients.

E. Orders:

The Client requests a quotation at the price that is stated on the Company’s Electronic Trading Platform. However, due to the high volatility of the market, prices may change before a Client can execute Orders at their determined price. The Company at this point, has the right to offer the Client a new price. The Client can either accept the new price and execute the Order, or refuse the new price, cancelling the Order transaction completely.

Orders can only be placed, executed, modified or closed within the trading time and shall remain effective through to the next trading session. The Client’s Order shall be valid according to the type and time of the given Order. If the time of validity of the Order is not specified, it shall be valid indefinitely.

Order status is always shown on the Company’s Electronic Trading Platform and can be accessed via the Client’s online trading terminal. Should access to the Company’s Electronic Trading Platform not be possible, Clients may contact the Company by telephone and request the status of any of their pending Orders.

Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop Orders on Financial Instrument contracts are executed at the declared by the Client price on the first current price touch. But under certain trading conditions it may be impossible to execute Orders (Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, and Sell Stop) on any Financial Instrument contract at the declared price. In this case the Company has the right to execute the Order at the first available price. This may occur, for example, at the following cases:

  • Trading Session start moments.
  • During news times.
  • During volatile markets where prices may move significantly up or down and away from declared price.
  • Where there is rapid price movement, if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted.

F. Liquidity:

If there is insufficient liquidity for the execution of the specific volume at the declared price. Likelihood of Settlement: The Company shall proceed to a settlement of all transactions upon execution of such transactions.

G. Size of Order:

While the order sizes depend on the actual Financial Instrument being traded, the typical minimum size of an Order is 0.01 lots. A lot is a unit measuring the transaction amount and it is different for each type of Financial Instrument. Please refer to the Spreads and Conditions section on the Company’s website for the value of each lot for a given Financial Instrument type as well as the minimum Order Size for the relevant Financial Instruments. The Company reserves the right to decline an Order as explained in the Business Terms entered with the Client. The Company makes every effort to fill the Order of the Client irrespective of the volume. However, if this is achieved, it may be at a best available price, different from declared price, as the market liquidity may allow at the time of execution. (See above, Likelihood of Execution).

H. Market Impact:

Some factors may affect rapidly the price of the underlying Financial Instruments from which the quoted Company price for its Financial Instruments is derived. These factors may influence some of the factors listed above. The Company will take all reasonable steps to obtain the best possible result for its Clients.

The Company does not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as priority factor. Nevertheless, whenever there is a specific instruction from the Client the Company shall make sure that the Client’s Order shall be executed following the specific instruction.

Best Execution Criteria

The Company will determine the relative importance of the above factors by using its commercial judgment and experience in the light of the information available on the market and taking into account the criteria described below:

  1. the characteristics of the Client;
  2. the characteristics of the Client Order;
  3. the characteristics of Financial Instruments that are the subject of that Order;
  4. the characteristics of the execution venues to which that Order can be directed.

The best possible result shall be determined in terms of the total consideration, representing the price of the Financial Instrument and the costs related to execution, which shall include all expenses incurred by the Client which are directly related to the execution of the Order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the Order.

Where there is more than one available Execution Venue for the execution of an Order, the commissions and the costs of the Company for transmitting the Order on each of the eligible Execution Venues shall be taken into account when assessing and comparing the results for the Client that would be achieved by executing the Order on each of the eligible Execution Venues.

The Company undertakes not to structure or charge its commissions in such a way as to discriminate unfairly between Execution Venues.

Execution Venues

Execution Venues are the entities with which the Client’s Orders are placed or to which the Company transmits Orders for execution.

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Financial Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the company has assessed to be the best execution. The Company places a significant importance when executing Client’s Orders and strives to offer high speed of execution within the limitations of technology and communications links.

The Company regularly assesses the Execution Venues available in respect of any products that the Company provides to its Clients to identify those that will enable the Company, on a consistent basis, to obtain the best possible result when transmitting Orders for execution.

Where there is more than one available Execution Venue for the execution of an Order, the commissions and the costs of the Company for transmitting the Order on each of the eligible Execution Venues shall be taken into account when assessing and comparing the results for the Client that would be achieved by executing the Order on each of the eligible Execution Venues.

The Company places significant reliance to the above Execution Venue based on the above mentioned factors and their relevant importance. It is the Company’s policy to maintain such internal procedures and principles in Order to act for the best interest of its Clients and provide them the best possible result (or “best execution”) when dealing with them.

The Client acknowledges that the transactions entered in Financial Instruments with the Company are not undertaken on a recognized exchange, rather they are undertaken through the Company’s Electronic Trading Platform and, accordingly, they may expose the Client to greater risks than regulated exchange transactions. Therefore, the Company may not execute an Order, or it may change the opening (closing) price of an Order in case of any technical failure of the Company’s Electronic Trading Platform or quote feeds.

While the Company strives to execute all Orders placed by its Clients, it reserves the right to decline an Order of any type or execute the Order at the first available market price. In case of technical failure of the trading platform or quote feeds, the Company may not transmit the Order for execution or it may change the opening/closing price of an Order. Under certain market conditions such as a fast moving market or low liquidity, the Company reserves the right to modify the spread of the transactions. In certain circumstances such as unusual market conditions or the size and nature of the Client’s Order, it may be wholly or partly manually prices and/or an Order may be manually transmitted for execution, and then have an impact on the price at which the Order is executed.

Clients are required to close open positions in regard to any given Financial Instrument during the operating hours of the Company’s Electronic Trading Platform.

The operating hours of the Company’s Electronic Trading Platform are as follows:

From 22:05:01 P.M. GMT Time Sunday through 21:54:59 P.M. GMT Time Friday.

Monitoring and Review

The Company will monitor on a regular basis the effectiveness of this Policy and, in particular, the execution quality of the procedures explained in the Policy and, where appropriate, reserves the right to correct any deficiencies.

In addition, Company will review the Policy at least annually. A review will also be carried out whenever a material change occurs that affects the ability of the Company to continue to the best possible result for the execution of its Client Orders on a consistent basis using the venues included in this Policy.

The Company will inform its Clients of any material change to this Policy by posting an updated version of this Policy on its website(s).

Client Consent

When establishing a business relation with the Client, the Company is required to obtain the Client’s prior consent to this Policy. The Company is also required to obtain the Client’s prior express consent before it executes or transmits its Order for execution outside a regulated market or an MTF (Multilateral Trading Facility). The Company may obtain the above consents in the form of a general agreement.

The Company reserves the right to review and/or amend its Policy and arrangements, at its sole discretion, whenever it deems fit or appropriate.

Our Order Execution Policy is part of our Business Terms, which is a contractually binding agreement between the Company and its Clients, and is incorporated therein by reference. It shall be applicable to all transactions among the Company and its Clients, to the extent that it does not impose and/or does not seek to impose any obligations on us which we would not otherwise have, but for the Labuan Financial Services and Securities Act 2010.

Order Execution Policy – Ortega Capital Limited (St Vincent)

Introduction

Ortega Capital Limited (St. Vincent), Suite 305, Griffith Corporate Centre, Beachmont P.O. Box 1510, Kingstown, St. Vincent and the Grenadines, is incorporated under the registered number 22746 IBC-2015 by the Registrar of International Business Companies, and registered with the Financial Services Authority of St. Vincent and the Grenadines (hereafter the “Company”). The Company is licensed to use the domain name, https://www.ortegacapital.com.

For the purposes of best practices and corporate governance, the Company is committed to provide its Clients and potential Clients with its Order Execution Policy (hereinafter the “Policy”).

The Company is committed to take all reasonable steps to obtain the best possible result (or “best execution”) on behalf of its Clients either when executing Client Orders or receiving and transmitting Orders for execution. These steps set out to put in place an execution policy which sets out how it will obtain best execution for its Clients and to provide appropriate information to its Clients on its Order Execution Policy.

This Policy forms part of our Agreement as defined in the Business Terms. Therefore, by entering into an Agreement with the Company, you are also agreeing to the terms of our Financial Instruments Order Execution Policy, as set out in this document.

Definitions

For the purposes of this policy, the following words and expressions shall have the meaning set out next to them:

“Financial Instruments”, when used hereinafter, unless the context requires otherwise, shall mean Foreign Exchange and Contracts for Difference.

“Order”, when used hereinafter, unless the context requires otherwise, shall mean an instruction to buy or sell a Financial Instrument which is accepted by the Company for transmission to a third party.

“Execution Venue”, when used hereinafter, unless the context requires otherwise, shall mean a market maker, or other liquidity provider or entity that performs a similar function in a third country to the function performed by any of the foregoing.

“Execution Factors”, when used hereinafter, unless the context requires otherwise, shall mean those factors listed in paragraph “Best Execution Factors” of this Policy.

“Execution Criteria”, when used hereinafter, unless the context requires otherwise, shall mean those factors listed in paragraph “Best Execution Criteria” of this Policy.

“Multilateral Trading Facility (“MTF”)”, when used hereinafter, unless the context requires otherwise, shall mean a multilateral system, operated by an investment firm or a market operator, which brings together multiple third party buying and selling interest in Financial Instruments and in a way that results in a contract.

Scope and Services

This Policy applies to all Clients except counterparty clients. Therefore, if the Company classifies the Client as an eligible counterparty, this Policy does not apply to the respective Client.

This Policy applies when executing transactions with Clients for the Financial Instruments provided by the Company. The Financial Instruments provided by the Company are derivatives of an underlying Financial Instrument, and it is up to the Company’s discretion to decide which types of Financial Instruments to make available and to publish the prices at which these can be traded.

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the Company has assessed to provide for the best execution.

The Client is given the option to place with the Company the following Orders for execution in the following ways:

  1. The Client places a “Market Order” which is an Order instantly executed against a price that the Company has provided. The Client may attach to a Market Order a Stop Loss and/or Take Profit. Stop Loss is an Order to limit Client’s loss, whereas Take Profit is an Order to limit Client’s profit.
  2. The Client places a “Pending Order”, which is an Order to be executed at a later time at the price that the Client specifies. The Company will monitor the Pending Order and when the price provided by the Company reaches the price specified by the Client, the Order will be executed at that price. The following types of Pending Orders are available: Buy Limit, Buy Stop, Sell Limit and Sell Stop. The Client may attach to any Pending Order a Stop Loss and/or Take Profit.

The Client may modify an Order before it is executed. The Client has no right to change or remove Stop Loss, Take Profit and Pending Orders if the price has reached the level of the Order execution.

Best Execution Factors

The Company shall take all reasonable steps to obtain the best possible result for its Clients taking into account the following factors when executing Client’s Orders against the Company’s quoted prices:

A. Price:

  • Bid – Ask Spread: For any given Financial Instrument the Company will quote two prices: the higher price (“ASK”) at which the Client can buy (go long) that Financial Instrument, and the lower price (“BID”) at which the Client can sell (go short) that Financial Instrument; collectively they are referred to as the Company’s price. The difference between the lower and the higher price of a given Financial Instrument is the spread.
  • Pending Orders: Such Orders as Buy Limit, Buy Stop and Stop Loss / Take profit for opened short position are executed at ASK price. Such Orders as Sell Limit, Sell Stop and Stop Loss / Take profit for opened long position are executed at BID price.
  • Company’s price: The Company’s price for a given Financial Instrument is calculated by reference to the price of the relevant underlying Financial Instrument, which the Company obtains from third party external reference sources. The Company’s prices are constructed with reference to the given ‘Spreads and Conditions’ policy, which can be found on the Company’s website. The Company updates its prices as frequently as the limitations of technology and communications links allow. The Company reviews it’s used third party external reference sources at least once a year, to ensure that the data obtained continue to be competitive. The Company will not quote any price outside Company’s operations time (see Execution Venue below) therefore no Orders can be placed by the Client during that time.

B. Costs:

For opening a position in some types of Financial Instruments the Client may be required to pay commission or financing fees, if applicable, the amount of which is disclosed in the ‘Spreads and Conditions’ policy section on the Company’s website.

  • Commissions: Commissions may be charged either in the form of a percentage of the overall value of the trade or as fixed amount.
  • Financing Fee: In the case of financing fees, the value of opened positions in some types of Financial Instruments is increased or reduced by a daily financing fee “swap” throughout the life of the contract. Financing fees are based on prevailing market interest rates, which may vary over time. Details of daily financing fees applied are available under Spreads and Conditions section in the Company’s website. For all types of Financial Instruments that the Company offers, the commission and financing fees are not incorporated into the Company’s quoted price and are instead charged explicitly to the Client account.

C. Speed of Execution:

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Financial Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the company has assessed to be the best execution. The Company places a significant importance when executing Client’s Orders and strives to offer high speed of execution within the limitations of technology and communications links.

If the Client undertakes transactions on an electronic system, like the Company’s Electronic Trading Platform, he/she will be exposed to risks associated with the system including the failure of hardware and software (Internet/Servers). The result of any system failure may be that the Client’s Order is either not executed according to the Client’s instructions or it is not executed at all. The Company does not accept any liability in the case of such a failure. The use of wireless connection or dial-up connection or any other form of unstable connection at the Client’s end, may result in poor or interrupted connectivity or lack of signal strength causing delays in the transmission of data between the Client and the Company when using the Company’s Electronic Trading Platform. This delay may result in sending to the Company out of date “Market Orders”.

In this case the Company will update the price and execute the Order at the market price available. The Client may request the Company to execute upon receipt instructions conveyed by e-mail or any other written or oral means of communication that each of the present and future account holders, attorneys and duly authorized representatives shall give individually to the Company, even if these instructions are not followed by a confirmation in writing. The Company does not accept any liability in case of misunderstanding, error in the identification of the person giving the instruction or other errors on its part related to such method of communication and which may involve losses or other inconveniences for the Client. The Company reserves the right not to execute instructions transmitted by telephone or fax. Telephone conversations may be recorded, and you will accept such recordings as conclusive and binding evidence of the instructions.

D. Likelihood of Execution:

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Financial Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the company has assessed to be the best execution. The Company places a significant importance when executing Client’s Orders and strives to offer high speed of execution within the limitations of technology and communications links.

The Company seeks to execute all Orders placed by its Clients.

E. Orders:

The Client requests a quotation at the price that is stated on the Company’s Electronic Trading Platform. However, due to the high volatility of the market, prices may change before a Client can execute Orders at their determined price. The Company at this point, has the right to offer the Client a new price. The Client can either accept the new price and execute the Order, or refuse the new price, cancelling the Order transaction completely.

Orders can only be placed, executed, modified or closed within the trading time and shall remain effective through to the next trading session. The Client’s Order shall be valid according to the type and time of the given Order. If the time of validity of the Order is not specified, it shall be valid indefinitely.

Order status is always shown on the Company’s Electronic Trading Platform and can be accessed via the Client’s online trading terminal. Should access to the Company’s Electronic Trading Platform not be possible, Clients may contact the Company by telephone and request the status of any of their pending Orders.

Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop Orders on Financial Instrument contracts are executed at the declared by the Client price on the first current price touch. But under certain trading conditions it may be impossible to execute Orders (Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, and Sell Stop) on any Financial Instrument contract at the declared price. In this case the Company has the right to execute the Order at the first available price. This may occur, for example, at the following cases:

  • Trading Session start moments.
  • During news times.
  • During volatile markets where prices may move significantly up or down and away from declared price.
  • Where there is rapid price movement, if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted.

F. Liquidity:

If there is insufficient liquidity for the execution of the specific volume at the declared price. Likelihood of Settlement: The Company shall proceed to a settlement of all transactions upon execution of such transactions.

G. Size of Order:

While the order sizes depend on the actual Financial Instrument being traded, the typical minimum size of an Order is 0.01 lots. A lot is a unit measuring the transaction amount and it is different for each type of Financial Instrument. Please refer to the Spreads and Conditions section on the Company’s website for the value of each lot for a given Financial Instrument type as well as the minimum Order Size for the relevant Financial Instruments. The Company reserves the right to decline an Order as explained in the Business Terms entered with the Client. The Company makes every effort to fill the Order of the Client irrespective of the volume. However, if this is achieved, it may be at a best available price, different from declared price, as the market liquidity may allow at the time of execution. (See above, Likelihood of Execution).

H. Market Impact:

Some factors may affect rapidly the price of the underlying Financial Instruments from which the quoted Company price for its Financial Instruments is derived. These factors may influence some of the factors listed above. The Company will take all reasonable steps to obtain the best possible result for its Clients.

The Company does not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as priority factor. Nevertheless, whenever there is a specific instruction from the Client the Company shall make sure that the Client’s Order shall be executed following the specific instruction.

Best Execution Criteria

The Company will determine the relative importance of the above factors by using its commercial judgment and experience in the light of the information available on the market and taking into account the criteria described below:

  1. the characteristics of the Client;
  2. the characteristics of the Client Order;
  3. the characteristics of Financial Instruments that are the subject of that Order;
  4. the characteristics of the execution venues to which that Order can be directed.

The best possible result shall be determined in terms of the total consideration, representing the price of the Financial Instrument and the costs related to execution, which shall include all expenses incurred by the Client which are directly related to the execution of the Order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the Order.

Where there is more than one available Execution Venue for the execution of an Order, the commissions and the costs of the Company for transmitting the Order on each of the eligible Execution Venues shall be taken into account when assessing and comparing the results for the Client that would be achieved by executing the Order on each of the eligible Execution Venues.

The Company undertakes not to structure or charge its commissions in such a way as to discriminate unfairly between Execution Venues.

Execution Venues

Execution Venues are the entities with which the Client’s Orders are placed or to which the Company transmits Orders for execution.

The Client acknowledges that the transactions entered into with the Company in Foreign Exchange and Financial Contracts for Difference are undertaken through the Electronic Trading Platform of the Company. The Orders will be executed on an ‘over the counter’ basis rather than on a regulated market or a Multilateral Trading Facility. Such Orders are automatically routed to an Execution Venue which the company has assessed to be the best execution. The Company places a significant importance when executing Client’s Orders and strives to offer high speed of execution within the limitations of technology and communications links.

The Company regularly assesses the Execution Venues available in respect of any products that the Company provides to its Clients to identify those that will enable the Company, on a consistent basis, to obtain the best possible result when transmitting Orders for execution.

Where there is more than one available Execution Venue for the execution of an Order, the commissions and the costs of the Company for transmitting the Order on each of the eligible Execution Venues shall be taken into account when assessing and comparing the results for the Client that would be achieved by executing the Order on each of the eligible Execution Venues.

The Company places significant reliance to the above Execution Venue based on the above mentioned factors and their relevant importance. It is the Company’s policy to maintain such internal procedures and principles in Order to act for the best interest of its Clients and provide them the best possible result (or “best execution”) when dealing with them.

The Client acknowledges that the transactions entered in Financial Instruments with the Company are not undertaken on a recognized exchange, rather they are undertaken through the Company’s Electronic Trading Platform and, accordingly, they may expose the Client to greater risks than regulated exchange transactions. Therefore, the Company may not execute an Order, or it may change the opening (closing) price of an Order in case of any technical failure of the Company’s Electronic Trading Platform or quote feeds.

While the Company strives to execute all Orders placed by its Clients, it reserves the right to decline an Order of any type or execute the Order at the first available market price. In case of technical failure of the trading platform or quote feeds, the Company may not transmit the Order for execution or it may change the opening/closing price of an Order. Under certain market conditions such as a fast moving market or low liquidity, the Company reserves the right to modify the spread of the transactions. In certain circumstances such as unusual market conditions or the size and nature of the Client’s Order, it may be wholly or partly manually prices and/or an Order may be manually transmitted for execution, and then have an impact on the price at which the Order is executed.

Clients are required to close open positions in regard to any given Financial Instrument during the operating hours of the Company’s Electronic Trading Platform.

The operating hours of the Company’s Electronic Trading Platform are as follows:

From 22:05:01 P.M. GMT Time Sunday through 21:54:59 P.M. GMT Time Friday.

Monitoring and Review

The Company will monitor on a regular basis the effectiveness of this Policy and, in particular, the execution quality of the procedures explained in the Policy and, where appropriate, reserves the right to correct any deficiencies.

In addition, Company will review the Policy at least annually. A review will also be carried out whenever a material change occurs that affects the ability of the Company to continue to the best possible result for the execution of its Client Orders on a consistent basis using the venues included in this Policy.

The Company will inform its Clients of any material change to this Policy by posting an updated version of this Policy on its website(s).

Client Consent

When establishing a business relation with the Client, the Company is required to obtain the Client’s prior consent to this Policy. The Company is also required to obtain the Client’s prior express consent before it executes or transmits its Order for execution outside a regulated market or an MTF (Multilateral Trading Facility). The Company may obtain the above consents in the form of a general agreement.

The Company reserves the right to review and/or amend its Policy and arrangements, at its sole discretion, whenever it deems fit or appropriate.

Our Order Execution Policy is part of our Business Terms, which is a contractually binding agreement between the Company and its Clients, and is incorporated therein by reference.

Conflict of Interest

Conflicts of Interest Policy – Ortega Capital Labuan

Introduction

Ortega Capital Limited is a Money Broker registered with the Labuan Financial Services Authority (“LFSA”) under registration number: LL13354 and regulated by the same under license number No. MB/17/0014 (hereafter the “Company”). The domain name, https://www.ortegacapital.com is owned by the Company and its head office is located in the Federal Territory of Labuan, Malaysia.

For the purposes of best practices and corporate governance, the Company is committed to take all reasonable steps to detect and avoid conflicts of interest.

The Company provides herein a summary of the policy we maintain in order to manage conflicts of interest in Respect of the duties we owe to our Clients. This Policy forms part of our Agreement as defined in the Business Terms.

The Policy applies to all its directors, employees, any persons directly or indirectly linked to the Company (hereinafter called “related persons”) and refers to all interactions with all Clients.

Identification of Conflicts of Interest

For the purposes of identifying the types of conflict of interest that arise in the course of providing investment and ancillary services or a combination thereof and whose existence may damage the interests of a Client, the Company takes into account, whether the Company or an associate or some other person connected with the Company, is in any of the following situations, whether as a result of providing investment or ancillary services or investment activities or otherwise:

  1. The Company or an associate or some other person connected with the Company is likely to make a financial gain, or avoid a financial loss, at the expense of the Client;
  2. The Company or an associate or some other person connected with the Company has an interest in the outcome of a service provided to the Client or of a transaction carried out on behalf of the Client, which is distinct from the Client’s interest in that outcome;
  3. The Company or an associate or some other person connected with the Company has a financial or other incentive to favor the interest of another Client or group of Clients over the interests of the Client;
  4. The Company or an associate or some other person connected with the Company carries on the same business as the Client;
  5. The Company or an associate or some other person connected with the Company receives or will receive from a person other than the Client an inducement in relation to a service provided to the Client, in the form of monies, goods or services, other than the standard commission or fee for that service.

Procedures and Controls to Managing Conflicts of Interests

In general, the procedures and controls that the Company follows to manage the identified conflicts of interest include the following measures:

  1. Effective procedures to prevent or control the exchange of information between relevant persons engaged in activities involving a risk of a conflict of interest where the exchange of that information may harm the interests of one or more Clients.
  2. The separate supervision of relevant persons whose principal functions involve carrying out activities on behalf of, or providing services to, Clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the Company.
  3. The removal of any direct link between the remuneration of relevant persons principally engaged in one activity and the remuneration of, or revenues generated by, different relevant persons principally engaged in another activity, where a conflict of interest may arise in relation to those activities.
  4. Measures to prevent or limit any person from exercising inappropriate influence over the way in which a relevant person carries out investment or ancillary services or activities.
  5. A ‘need to know’ policy governing the dissemination of confidential or inside information within the Company.
  6. High walls restricting the flow of confidential and inside information within the Company, and physical separation of departments.
  7. Procedures governing access to electronic data.
  8. Segregation of duties that may give rise to conflicts of interest if carried on by the same individual.
  9. Personal account dealing requirements applicable to relevant persons in relation to their own investments.
  10. A gifts and inducements log registering the solicitation, offer or receipt of certain benefits.
  11. Prohibition of external business interests conflicting with our interests as far as the Company’s officers and employees are concerned, unless Board of Directors approval is provided.
  12. A policy designed to limit the conflict of interest arising from the giving and receiving of inducements.
  13. Appointment of Internal audit or to ensure that appropriate systems and controls are maintained and report to the Company’s Board of Directors.
  14. Establishment of the four-eyes principle in supervising the Company’s activities.
  15. The Company also undertakes ongoing monitoring of business activities to ensure that internal controls are appropriate.

Conflicts of Interest Policy – Ortega Capital St Vincent

Introduction

Ortega Capital Limited (St. Vincent), Suite 305, Griffith Corporate Centre, Beachmont P.O. Box 1510, Kingstown, St. Vincent and the Grenadines, is incorporated under the registered number 22746 IBC-2015 by the Registrar of International Business Companies, and registered with the Financial Services Authority of St. Vincent and the Grenadines (hereafter the “Company”). The Company is licensed to use the domain name, https://www.ortegacapital.com.

For the purposes of best practices and corporate governance, the Company is committed to take all reasonable steps to detect and avoid conflicts of interest.

The Company provides herein a summary of the policy we maintain in order to manage conflicts of interest in Respect of the duties we owe to our Clients. This Policy forms part of our Agreement as defined in the Business Terms.

The Policy applies to all its directors, employees, any persons directly or indirectly linked to the Company (hereinafter called “related persons”) and refers to all interactions with all Clients.

Identification of Conflicts of Interest

For the purposes of identifying the types of conflict of interest that arise in the course of providing investment and ancillary services or a combination thereof and whose existence may damage the interests of a Client, the Company takes into account, whether the Company or an associate or some other person connected with the Company, is in any of the following situations, whether as a result of providing investment or ancillary services or investment activities or otherwise:

  1. The Company or an associate or some other person connected with the Company is likely to make a financial gain, or avoid a financial loss, at the expense of the Client;
  2. The Company or an associate or some other person connected with the Company has an interest in the outcome of a service provided to the Client or of a transaction carried out on behalf of the Client, which is distinct from the Client’s interest in that outcome;
  3. The Company or an associate or some other person connected with the Company has a financial or other incentive to favor the interest of another Client or group of Clients over the interests of the Client;
  4. The Company or an associate or some other person connected with the Company carries on the same business as the Client;
  5. The Company or an associate or some other person connected with the Company receives or will receive from a person other than the Client an inducement in relation to a service provided to the Client, in the form of monies, goods or services, other than the standard commission or fee for that service.

Procedures and Controls to Managing Conflicts of Interests

In general, the procedures and controls that the Company follows to manage the identified conflicts of interest include the following measures:

  1. Effective procedures to prevent or control the exchange of information between relevant persons engaged in activities involving a risk of a conflict of interest where the exchange of that information may harm the interests of one or more Clients.
  2. The separate supervision of relevant persons whose principal functions involve carrying out activities on behalf of, or providing services to, Clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the Company.
  3. The removal of any direct link between the remuneration of relevant persons principally engaged in one activity and the remuneration of, or revenues generated by, different relevant persons principally engaged in another activity, where a conflict of interest may arise in relation to those activities.
  4. Measures to prevent or limit any person from exercising inappropriate influence over the way in which a relevant person carries out investment or ancillary services or activities.
  5. A ‘need to know’ policy governing the dissemination of confidential or inside information within the Company.
  6. High walls restricting the flow of confidential and inside information within the Company, and physical separation of departments.
  7. Procedures governing access to electronic data.
  8. Segregation of duties that may give rise to conflicts of interest if carried on by the same individual.
  9. Personal account dealing requirements applicable to relevant persons in relation to their own investments.
  10. A gifts and inducements log registering the solicitation, offer or receipt of certain benefits.
  11. Prohibition of external business interests conflicting with our interests as far as the Company’s officers and employees are concerned, unless Board of Directors approval is provided.
  12. A policy designed to limit the conflict of interest arising from the giving and receiving of inducements.
  13. Appointment of Internal audit or to ensure that appropriate systems and controls are maintained and report to the Company’s Board of Directors.
  14. Establishment of the four-eyes principle in supervising the Company’s activities.
  15. The Company also undertakes ongoing monitoring of business activities to ensure that internal controls are appropriate.

Disclaimer

Disclaimer

Local Regulatory Restrictions

While this website can be accessed worldwide, not everyone should or is invited or asked to access this website. As such, the information provided and the products and/or services accessible through this website are respectively only intended for use by any person in any country where such access and/or use would not be contrary to local law or regulation. If you choose to access this website from any location then you do so on your own initiative and at your own risk. It is your sole responsibility to ascertain the terms of use and comply with any local law or regulation to which you are subjected to.

Use of the Website

The access and use of any product, service or links on this website is expressly subject to the terms of this Disclaimer and the Terms of Use of Ortega Capital Limited, which are to be read together. If you do not agree with any part of this Disclaimer and/or the Terms of Use, you must immediately discontinue your access and any use of this website. This Disclaimer and/or the Terms of Use may change from time to time without notice. By continuing to access and/or use any information/ products/services available on or through this website, you are agreeing to be bound by the current version of this Disclaimer.

Ortega Capital Limited including its directors, officers or employees shall not in any event be liable for any damages or injury arising out of your access to, or inability to access, this site or from your reliance on any information provided here. Ortega Capital Limited disclaims any and all liability for direct, indirect, incidental, consequential, punitive, and special or other damages, lost opportunities, lost profit or any other loss or damages of any kind. This limitation includes any damage or virus, which may affect your computer equipment.

General Information and Circulation

The information and materials provided here, whether or not provided on Ortega Capital Limited’s website/webpages, on third party websites, in marketing materials, newsletters or any form of publication are provided for general information and circulation only.

No Recommendation or Advice

None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.

Ortega Capital Limited does not take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation of any sort offered or endorsed by Ortega Capital Limited. Ortega Capital Limited also does not warrant that such information and publications are accurate, up to date or applicable to the circumstances of any particular case.

Any expression of opinion (which may be subject to change without notice) is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of any information or analysis supplied.

The authors and Ortega Capital Limited are not responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained here. The contents of these publications should not be construed as an express or implied promise, guarantee or implication by Ortega Capital Limited that clients will profit or that losses in connection therewith can or will be limited, from reliance on any information set out here.

Trading risks are magnified by leverage – losses can exceed your deposits. Trade only after you have acknowledged and accepted the risks. You should carefully consider whether trading in leveraged products is appropriate for you based on your financial circumstances and seek independent consultation. Please also consider our Risk Disclosure and Business Terms before trading with us.

Translation Deviances

For customer benefit, Ortega Capital Limited offers this site in a wide range of languages but on the express understanding and agreement that the original and effective language for this site is English. Users of the website therefore agree that Ortega Capital Limited shall not be held liable to anyone for any direct or indirect loss or injury caused in whole or in part by the incomplete or inaccurate translation of the original English text to another language. Any translation that constitutes a departure from the English text should be disregarded. The translated version(s) is/are solely a courtesy and office translation for information purposes only and you cannot derive any rights from the translated version(s). In the event of a dispute about the contents or interpretation of relevant terms or in the event of a conflict, ambiguity, inconsistency or discrepancy between the English version and the version of any other language, the English version shall apply, prevail and be conclusive and binding. The English version only shall be used in legal proceedings.

Copyright

The works of authorship contained in this website, including but not limited to all designs, texts and images, are owned, except as otherwise expressly stated, by Ortega Capital Limited, and may not be copied, reproduced, transmitted, displayed, performed, distributed, rented, sublicensed, altered, stored for subsequent use or otherwise used in whole or in part in any manner without the prior written consent of Ortega Capital Limited.

Third Party Services – Linked Sites and Banners

On this website, other companies, including companies which are members of the Ortega Capital Limited group of entities to which Ortega Capital Limited itself is a member, may advertise or may have their products and/or services accessible through links or banners. Ortega Capital Limited is not responsible/liable and does not accept any responsibility/liability for the contents of any such banners, linked sites or for the products and/or services offered/accessible from such banners or linked sites. If you decide to act on any such information or offers, you do so entirely at your own risk. In particular you agree that if you should access such linked sites through clicking on the relevant site link(s) on this website, you will then be leaving this website and be proceeding on to the linked site where you will be subject to the terms of that linked site.

No Endorsement of Third Party Services

Reference to any third party information (including information provided by a third party or accessible through any linked site), product, process, or services at this website or any linked site is not an express or implied endorsement by Ortega Capital Limited of the same.

No Financial Advice

Without detracting from the above or any disclaimers or terms for accessing the website itself, the information, discussions and discussion opportunities available on or through this website are provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in or provided from or through this website is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice of any sort offered, recommended or endorsed by Ortega Capital Limited.

The Information on this website and provided from or through this website is in any event general in nature and for general circulation and dissemination and is not specific to you or anyone else. You should not make any decision, be it financial, investment, trading or otherwise, based on any of the information presented on or delivered by that or any other third party product, service, internet website without undertaking independent due diligence and consultation with your financial advisor.

You therefore agree that your access of this website, any and all use of the information, discussions and discussion opportunities available on or through this website, is solely at your own risk and without any recourse whatsoever to Ortega Capital Limited.

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All trademarks and registered trademarks are the property of their respective owners.