The copyright in any content, pages, screens posted on the Website (www.towardssource.com) belongs to the Company.
The present Agreement is entered into by www.towardssource.com (hereinafter the “Company” under the trademark TowardsSource) and the Client, who has opened a trading account on the Company’s online trading platform, recognized by the Company as the Client (hereinafter the “Client” or the ” Customer”) under the terms and conditions provided in the present Agreement.
This Agreement contains all legally attached documents submitted by the Company and the Client, as well as the occasional changes to the terms and conditions set out on the Company’s trading platform, under which the Company will assist the Client with regard to placing orders and trading.
The Client is obliged to confirm his identity by providing the necessary documents in accordance with the conditions of TowardsSource, verification procedure has to be passed before making transactions on the trading platform.
The Company may order to close the Client’s account (temporarily or permanently) if the relevant information was not provided earlier by the Client.
The Company also reserves the right to reject an application for opening an account with or without confirmation.
CREATION OF THE TRADING ACCOUNT
Activation of an account with the Company:
Fill out the application form for opening an account. The Company will, in its sole discretion, decide to approve your application to open an account.
Only if approved by the Company, the Client’s Account will be opened and the Client will be asked to make a deposit to his trading account.
As soon as the funds are transferred, the transferred amount will be credited to the Client’s account.
The account will be activated after fulfilling the requirements above.
In order to complete the desired transaction, the Client can transfer funds to the account in accordance with the purpose provided by the Company by transferring the allowed amount of money in the Client’s bank account.
To complete the transaction, the Company provides next payment methods: credit card / debit card / bank transfer / bitcoin transfer as deposit methods.
The minimum initial deposit is limited to 200 EUR.
At TowardsSource’s discretion, the payment methods indicated on the trading platform may be modified or changed.
Possible payment methods in TowardsSource:
– Credit / Debit / Prepaid Card transfer
– Bank transfer
– Bitcoin transfer
As soon as the Client provides the Company with his payment confirmation using the appropriate payment methods, the funds transferred will be available in the trading account.
The amount transferred to the account will be available for withdrawal no earlier than 14 (fourteen) calendar days, until the Company determines the transfer at its discretion, after the transaction.
Only the current account holder can withdraw funds and only with the same payment methods used previously (credit card / debit card / prepaid card / bank transfer).
If the selected base currency differs from the base currency in your bank account, the amount sent to your credit card may differ from the amount paid due to fluctuations in exchange rates and fees charged by credit card issuers.
Thereby, the Client confirms that such dissimilarity takes place and will not try to anticipate overhead costs.
In accordance with AML policy you must use only an accessible bank account in your country of residence and transfers must be made under your name.
You must also provide an actual SWIFT confirmation or receipt confirming the transfer.
Refusal to provide such SWIFT confirmation will prevent the transfer of the outstanding amounts to your trading account. A withdrawal from your trading account to a bank account can only be sent to the bank account from which the funds were originally credited.
Your personal data and credit card information will be treated as strictly confidential, as will the personal data used to execute the orders you place through TowardsSource.
In order to secure the processing of credit cards for the financial services offered, the Company guarantees to provide all reasonable security measures.
The Company will not be liable for any failure of security measures caused by any malfunction of your electronic device used to browse the Website.
Please be sure to prevent the absence of appropriate anti-virus software, which you may not have installed on your device.
FEES & CHARGES
- Commissions may be charged by the Company to Customers when carrying out transactions, as agreed between the parties and unless otherwise agreed.
All bank charges (transfer fees, commissions, etc.) will be charged to the Customer’s bank account. In view of the fact that bank charges are constantly changing, please contact the Customer Service Department for more precise information.
- Generally, the Company receives a commission for providing the Services to the Customer by entering into transactions at prices containing mark-ups, discounts and/or bid/offer ratios.
Upon entering into a transaction, the commission shall normally be charged to the Client’s account, but it may also relate to additional requirements which are determined by the Company at certain points in time.
However, the Client is advised that specified commissions may vary daily and regularly, depending on a multitude of circumstances, including market conditions, assets that are traded, market instruments etc.
- As a general rule, the Company will provide the Customer with transaction services in accordance with prices that include a bonus, discount and/or offer/allocation of requests. The transaction fee is mainly deducted from the Customer’s account, but may also be linked to other terms and conditions which the Company stipulates at certain times.
- The Company restrains a payment processing fee when the Company transfers funds to the Client from the Trading Account.
- In the case of all active positions that remain open daily after the end of the trading session, a swap fee at a fixed rate may be applied.
- However, the Company retains the right from time to time to make changes in the amount and percentage of commission fees, with further notification of the Client.
- On this basis, the Commission of the Company has the right to make periodic changes in the amount and percentage of its commission fees, with further informing the Client.
- When signing up for participation in the Company’s bonus program or accepting bonus or any other means of the Company, the Client confirms his/her consent to become properly acquainted with the Company’s bonus policy.
- When the Company offers the Client some additional bonuses, and the Client does not agree to this promotion, it does not affect the cooperation between the Client and the Company.
- Reviewing other forms of encouragement of Clients, the Company has developed specifics and peculiarities of the campaigns and bonuses. It is possible for the Company to select the Clients according to the offers submitted in a certain thematic area. There will be offers to the Clients, special promotions or bonuses on equal terms. All features of the offered bonus must be carefully considered by the Client. This policy is obligatory for the Client during the whole period of bonus validity.
- A sufficient level of knowledge in the field of trading is required to manage bonuses on the part of the Client. Without proper qualification the use of bonuses and promotions can lead to losses or may not contribute to profits. Using CFD trading, there is a risk of losing bonus funds.
- Selling or transferring bonuses to third parties is prohibited. Bonuses and promotions under certain conditions are granted to a certain trading account and cannot be transferred to another trading account.
- The currency used for bonuses and promotions is exactly the same as the basic currency that Client’s account is set to.
- The duration of offers and bonuses is set by the Company. All offers are subject to the terms and conditions of all bonuses. If the Client does not accept the terms, the Company has the right to cancel this offer. In this case, the terms of the bonus or promotion cannot be changed without any preliminary notification by the Company.
- The Company has the right to terminate bonuses or close the Client’s trading account in case the Company suspects that the Client is misusing the Company’s actions or violating the contractual relations between the Company and the Client.
- The application for withdrawal of funds from the Bonus Account will be considered in case the necessary trading volume is reached: Bonus Amount *7 in lots, or in case the Bonus Amount has been replaced by the Client’s own funds.
- Service of the account with the Company’s credits will be limited to withdrawals in accordance with repayment or under the turnover agreement.
CFD (CONTRACTS FOR DIFFERENCE) TRADING PLATFORM
CFD is a derivative asset, which is used by the Client for the specific purpose of gaining profit as a result of fluctuations in the underlying asset. The investor chooses a long position on the assumption that the underlying asset will increase in value. In the opposite case, a short position is chosen if there is confidence that the market value of the asset will decrease. When trading, one should also take into account that unexpected changes in market data and government policies can lead to drastic changes.
Given the specific nature of CFDs, there may be a significant impact on the level of profits from small movements. An unfavorable impact on the value of the underlying asset may result in a margin refund to the provider. By violating margin conditions, the provider also reserves the right to terminate the Client’s position or the Client will be forced to sell at a loss of profit.
LIQUIDITY AND GAPS
The impact of market conditions on many financial processes can increase the risk of loss. If there is insufficient trading volume in the market for the underlying asset, your remaining contract may become illiquid. In such circumstances, you may be required by your CFD provider to pay additional margin, or the contract may be terminated at a lower price.
Although, the price of a CFD may decrease until your trade is filled at the price you previously contracted for, which is also known as a “gap”, as the structure of the financial market changes rapidly. As a consequence, in this case, the owner of the contract will have to make a sub-optimal profit or cover the losses incurred by the CFD provider.
Using stop loss orders can help reduce your exposure to risk in CFD trading. Guaranteed stop loss orders, offered by some CFD providers, represent a pre-determined price with automatic termination of the contract upon execution.
When trading CFDs, however, even with a small initial investment and potential profit, their use can lead to illiquid assets and large losses.
It is important to assess the risks associated with the use of borrowed funds when deciding whether to participate in one of these types of investments. The likelihood of losses may be higher than previously assumed.
In accordance with this Agreement, the Client hereby accepts in full and agrees to be bound by TowardsSource, its directors, officers or employees, as well as to remain fully liable for any damages, losses, costs or expenses resulting from the Client’s failure to comply with his/her responsibilities as set forth in the Agreement and in connection with any failure to comply with relevant laws or regulations.
Secondary transfers of funds to the trading account of the Client made at their own initiative, shall be deemed as Confirmation of the high quality of services provided by TowardsSource.
The Company shall use English language for communication with the Client. However, by prior agreement, any other language acceptable to both parties to the Agreement may be selected.
The Company may from time to time make changes or additions to this Agreement or its terms and conditions without the Client’s consent by placing the amended terms and conditions on the Site.
This Agreement has been drafted in the English language. Whenever there is a conflict of understanding between the translated version of this Agreement and the English version, the English version shall take precedence. Client may contact email@example.com in the event of a claim to resolve it. The review of the application may take up to 7-10 business days.
During this period, the Company analyzes all transaction history, phone records, e-mail information and documentation provided by the Client. If required, the Client shall be informed of the possibility of the Company requesting additional information or documents.
The Company reserves the right to charge a commission for trading on inactive trading accounts in the absence of transactions made through the trading account of the Client, or extremely low activity of the Client for a period specified by the Company (previously discussed between the Client and the Manager), as well as in the presence of a minimum balance on the trading account of the Client.
The Company establishes a minimum amount that can be managed on an ongoing basis. All conditions are determined by the Company. The Company supplies the Client with additional information in the specified cases if the amount of payment is invalid.
The Company reserves the right, in the event of termination of this Agreement, to limit and completely close both some and all current open positions and/or provide access to the Client’s trading account.