The Client is advised to read this Agreement before starting to work with Kudos Capital Management, since this document regulates the legal relationship between the Client and Kudos Capital Management and sets out the principles of the Client's work with Kudos Capital Management.
1.1. This Agreement is concluded between Kudos Capital Management, on the one hand, and the Client (natural or legal person) who has been accepted by Kudos Capital Management as Client, on the other.
1.2. Kudos Capital Management is registered at 84 Eccleston Square, Pimlico, London, UK.
2.1. Kudos Capital Management opens a Client's trading account after the Client has completed and sent the Request to open a trading account to Kudos Capital Management, however, Kudos Capital Management reserves the right to reject the Client's request to open a trading account.
2.2. Kudos Capital Management accepts a natural or legal person as a Client after:
a) receive all the necessary documents from the Client and complete the internal audit of Kudos Capital Management, including, if necessary, audits in accordance with the Anti-Money Laundering and Terrorist Financing Policy; and
b) obtain information about the relevant knowledge of the Client and his experience in similar fields in order to be able to assess how the services or products are suitable for the Client. However, Kudos Capital Management is not obligated to evaluate the suitability of any product or service for the Client.
2.3. Kudos Capital Management assumes that the Client provides true, accurate and complete information, and the Client will notify Kudos Resource Partners of any changes in their data provided by Kudos Capital Management.
2.4. In the event that the Client appoints a Co-owner, the person named as the Co-owner must provide Kudos Capital Management with the necessary information in accordance with clause 2.2. present agreement.
Trading account co-owners
3.1. All co-owners of the trading account will be jointly responsible with the Client for their trading account with Kudos Capital Management.
3.2. All co-owners have the same status and have the same powers as the Client, therefore, notifications sent to the co-owner are considered as notices sent to all clients of the operating account, as well as orders provided by the co-owner are considered legal orders of the Client.
3.3. Kudos Capital Management reserves the right to require the Client's approval of the order and / or order of all Co-owners of the trading joint account.
3.4. In the event of the death or incapacity of the Client, Kudos Capital Management reserves the right to accept instructions from other co-owners. All rights and obligations of the Client in relation to Kudos Capital Management also pass to other co-owners.
Responsibility of the client and Kudos Capital Management
4.1. The client is solely responsible for making any decision regarding his trading account.
4.2. Kudos Capital Management is not obliged to provide the Client with any legal, tax or other documents.
4.3. Kudos Capital Management may provide the Client (through the Kudos Resource Partners website or otherwise) with information, news, market commentary or any other information to enable the Client to make an independent decision regarding their trading account. This information is not advice or advice. Kudos Capital Management is not responsible for the accuracy, reliability or completeness of such information.
4.4 Such market commentary, news and any other information provided by Kudos Capital Management may be changed and removed at any time and without prior notice.
5.1 Kudos Capital Management grants Customer a non-exclusive limited license to use the platform (including use of the website and software provided by Kudos Capital Management). This license is not transferable. In the event of termination of this Agreement, the specified license will automatically terminate. All rights to the platform are owned by Kudos Capital Management.
5.2. Kudos Capital Management has the right to close the platform for maintenance without prior notice to the Client.
5.3. Kudos Capital Management does not guarantee that the platform is free of errors, defects, viruses or other malware and that access to the platform will be permanent and flawless.
5.4. Kudos Capital Management is not responsible for damage, destruction and / or formatting of Client data as a result of a malfunction of a computer system or electronic device, as well as failure, delay or connection problems.
5.5. The client is not entitled to:
a) Use artificial intelligence to analyze Kudos Capital Management systems and / or platform;
b) Use any "spider", virus, worm, "Trojan", time bombs, any other malicious code for the purpose of damaging or separating the platform (s) or telecommunication system or any other systems of Kudos Capital Management;
c) Perform any actions aimed at violating the integrity of the computer system or the Kudos Capital Management platform or to obtain unauthorized access, including unauthorized access to the Platform;
d) Use the platform for the benefit of knowing and / or reasonably believing that the platform (s) are not working properly.
5.6. In case of violation of clause 5.5. on the part of the Client, Kudos Resource Partners has the right to take one or more of the actions described in clause 10.2. present agreement.
5.7. The customer must take the necessary steps to protect the system from viruses and other harmful materials that may harm the platform, website or Kudos Capital Management in general.
6.1. Platform, trade marks, software codes, logos, etc. are the intellectual property of Kudos Capital Management or third parties. The client may not modify, publish, transfer to third parties, distribute or reproduce for commercial use the information provided by Kudos Capital Management, in whole or in part, without the written consent of Kudos Resource Partners.
6.2. Customer cannot hide and / or remove copyright, trademark or any other notices or symbols of Kudos Capital Management' intellectual property, its website or platform.
7.1. Kudos Capital Management is not responsible for unauthorized access by third parties during the transfer of data between the parties to this Agreement, using the Internet or other networks and means of communication, and the Client should not disclose his access data to third parties and should notify Kudos Capital Management if there is reason to believe that such data has been or may be transferred to a third party in order for Kudos Capital Management to take appropriate action.
7.2. If Kudos Capital Management reasonably believes that there is a possibility of unauthorized access by third parties to the Client's data, Kudos Capital Management has the right to deactivate the Client's trading account.
8.1. To place an order, the Client must provide his secret access data.
8.2. The Client can open and / or close orders through the Kudos Capital Management Platform or by telephone using a voice order, in which case the orders will be placed by Kudos Capital Management.
8.3. Kudos Capital Management will use all reasonable efforts to execute the order placed by the Client, however, execution of the order may not be possible for reasons beyond the control of Kudos Capital Management.
8.4. Kudos Capital Management reserves the right to add, remove or suspend tools on the Platform.
8.5. Orders are placed during Kudos Capital Management' regular business hours.
Limiting the client's trade
9.1. The Client agrees that Kudos Capital Management has the right to cancel the Client's orders, and the Client undertakes not to make any claims against Kudos Capital Management if the following circumstances apply:
a) failure of the Internet connection or communications;
b) force majeure, market destabilization or abnormal market conditions;
c) the requirement of the court, supervisory and / or regulatory authorities;
d) combating fraudulent activities, financing of terrorism and / or money laundering.
e) Kudos Capital Management believes the order is illegal;
f) violation of obligations by the Client;
g) execution of the order is impossible due to restrictions on negotiation;
h) termination of this Agreement;
i) the balance of the Client's operating account is insufficient to place a specific order.
Breach of obligations by the Client
10.1. The following cases are considered a violation of obligations by the Client:
a) The client refuses to fulfill his obligations to Kudos Capital Management.
b) The client refuses to pay the amount that he must pay to Kudos Capital Management.
c) the death of the Client, the disappearance of the Client or the occurrence of a mental disorder in the Client (if the Client is an individual).
d) Kudos Capital Management believes that the Client is in violation of the requirements of applicable law.
e) The Client uses trading methods that are considered illegal, such as, among other things, Scalping, which is a transaction closed within a period of less than or equal to 120 seconds from the moment it was opened and / or Pip-hunting, which consists in closing a transaction with the goal of making a profit, which is one pip.
f) The Client uses the stolen card to deposit funds into his trading account with Kudos Capital Management;
g) the Client provides Kudos Capital Management with false or incomplete information;
g) Kudos Capital Management assumes that the Client harms Kudos Capital Management (including damage to the reputation of Kudos Capital Management) and / or its employees;
10.2. If the events described in clause 10.1. of this Agreement, Kudos Resource Partners has the right to take one or more of the following measures:
a) Terminate this Agreement unilaterally and without prior notice to the Client.
b) Close an open position (s);
c) Limit the Client's access to the platform;
d) Suspend or prohibit any activity on the platform;
e) Reject or suspend the order (s);
f) Void profits derived from any of the exceptions provided for in clause 10.1. or due to the use of artificial intelligence in the Customer's operating account;
g) Submit an application for restoration of damage caused by Kudos Capital Management.
Depositing funds to a trading account / withdrawing funds from an account
11.1. The Client's trading account will be activated in accordance with clauses 2 and 3 of this Agreement and after the Client has made an initial deposit amount, which may differ for different types of accounts.
11.2. The Client may make a deposit to his trading account at any time during the term of this Agreement using the available deposit forms that are described on the Kudos Capital Management website.
11.3. If necessary, Kudos Capital Management may ask the Client for documents confirming the origin of the Client's funds.
11.4. Kudos Capital Management has the right to decline the Client's deposit.
11.5. If the funds sent by the Client are not credited to the Client's trading account within a reasonable period of time, the Client must notify Kudos Capital Management. Kudos Capital Management may request documents required to locate and track a transaction.
11.6. After receiving a withdrawal request from the Client, Kudos Capital Management must complete the procedure for withdrawing funds from the Client's trading account and transfer them to the source of the deposit. Kudos Capital Management can also transfer funds to another source owned by the Client.
11.7. Kudos Capital Management has the right to reject a withdrawal request, in part or in whole, if:
a) The Client's request does not contain all the necessary information;
b) The Client has requested a withdrawal of funds to an account that was not used to deposit funds to a trading account with Kudos Capital Management and / or to an account that does not belong to the Client;
c) This trading account does not belong to the Client;
d) At the time of payment, the free margin on the Client's trading account is insufficient to carry out the withdrawal of funds;
e) Force majeure circumstances;
f) Kudos Capital Management reasonably believes that funds may be required to meet margin requirements;
g) if the Client requests a specific withdrawal method. In this case, Kudos Resource Partners is entitled to an alternative withdrawal method.
11.8. Kudos Capital Management does not accept third party deposits to the Client's trading account.
11.9. Kudos Capital Management does not charge any fees for deposits and withdrawals, however, all possible fees for transferring funds are borne by the Client.
11.10. Kudos Capital Management is not responsible for errors made in the process of processing the withdrawal of funds if they were caused by reasons beyond Kudos Capital Management' control.
11.11. Kudos Capital Management has the right to pledge the Client's funds on the Client's trading account with Kudos Capital Management to fulfill the Client's obligations to the Company.
Inactive trading account
12.1. If no transactions have been made on the Client's trading account within a calendar month, the trading account will be considered inactive and Kudos Capital Management will have the right to charge a monthly payment of twenty five (25) euros for its maintenance.
13.1. In the event of insolvency of any underlying instrument and / or its issuer, Kudos Capital Management has the right to change the Client's open positions accordingly.
13.2. In accordance with clause 13.1. of this Agreement, Kudos Capital Management is entitled, among others, to take the following measures:
a) change the leverage of open positions and new orders;
b) adjust the price of opening open positions to reflect the impact of the corresponding event;
c) open and / or close a position (positions) on the Client's account;
d) cancel any order (s);
e) suspend or modify any part of this Agreement;
f) take any other action that Kudos Capital Management deems necessary to be able to reflect the consequences of the event in question.
14.1. The official language of Kudos Capital Management is English. In the event of a discrepancy in the interpretation of this Agreement, the English text will prevail.
14.2. Nothing in this article limits the rights of Kudos Capital Management to provide services in other languages.
15.1. The Client must maintain margins within the limits determined by Kudos Capital Management in its sole discretion, for an appropriate period of time and in accordance with the terms of the contract for each type of CFD.
15.2. In the event of force majeure, Kudos Capital Management may change margin requirements without prior notice to the Client. In this situation, Kudos Capital Management may apply new margin requirements for open positions and / or new positions.
15.3. Kudos Capital Management has the right to close open positions of the Client or limit their volume and reject orders for new positions in the following cases:
a) Kudos Capital Management believes that abnormal market conditions exist.
b) The amount of the Client's collateral falls below the minimum margin level.
c) Equity in the Client's operating account is equal to or less than a predetermined percentage of the margin required to maintain an open position.
d) The client does not fulfill the margin requirements.
15.4. If Kudos Capital Management makes a margin adjustment and the platform notifies the Client that his operating account has reached a certain margin level, the Client must:
a) close open positions;
b) make a deposit to your trading account.
15.5. When the margin level on the Client's trading account reaches the stop-out level, the Client's positions begin to automatically close, starting with the largest loss, and Kudos Capital Management reserves the right to reject new orders.
15.6. The margin must be paid by depositing the Client's funds to the trading account. If the Client's deposit is made in a currency other than the currency of the current account, the conversion will be made into the currency of the current account.
16.1. Kudos Capital Management accepts only fully capable persons as a Client (if the Client is an individual).
16.2. The client uses the intellectual property of Kudos Capital Management only for the purposes for which it was provided.
16.3. The Client acts as a principal and not as an agent on behalf of third parties, unless the Client and Kudos Capital Management have otherwise agreed in writing and all documents required by Kudos Capital Management have been provided by the Client.
16.4. The Client has read, understands and accepts all the provisions of this Agreement with the Client, and is also aware of the risks of margin trading.
16.5. The Client does not use the funds received as a result of the Client's criminal activities to be credited to his trading account with Kudos Capital Management.
16.6. The client is not a politically exposed person (head of state, head of government, minister, deputy minister; member of parliament; member of the Supreme Courts, constitutional courts or other high-level judicial bodies; member of the Accounts Chamber or the boards of directors of central banks; Ambassador, Charge d'Affaires or a senior military officer; a member of the administrative, governing or supervisory bodies of a public company, or who is related or related to the people described in this clause) and has not been such for one year prior to registration with Kudos Resource Partners.
17.1. Kudos Capital Management has the right to update and change the platform at any time without prior notice.
17.2. Kudos Capital Management may change the Agreement if there is reason to believe that such changes are necessary.
17.3. Changes can be made at the request of the relevant authority or as a result of changes in the current legislation.
17.4. If the Client does not agree with the changes, he has the right to terminate the termination of this Agreement.
Termination of the Agreement
18.1. To terminate this Agreement, one of the parties must provide the other party with written notice 15 (fifteen) days prior to termination; Thereafter, the Agreement will be terminated and all payments, costs and expenses payable by the Client to Kudos Capital Management, in accordance with this Agreement or in connection with its termination, will be paid immediately.
18.2. Termination of this Agreement does not affect the rights or obligations arising from this Agreement and operations carried out in accordance with this Agreement.
18.3. Prior to termination of this Agreement:
a) the Client must close open positions on his trading account;
b) Kudos Capital Management has the right to cancel or restrict the Client's access to the platform;
c) Kudos Capital Management has the right to decline Client withdrawal requests and maintain Client's assets to close Client's open positions and / or in the event that Client is required to pay amounts due to Company under this Agreement.
Force majeure circumstances
19.1. Force majeure is a force majeure circumstance that does not depend on the will of the parties to this Agreement, is beyond their control and directly or indirectly affects compliance with this Agreement, for example:
a) strikes, labor disputes, lockouts, abnormal working conditions, government measures and restrictions, orders of the relevant authorities, etc.
b) wars, military operations, the threat of war, emergencies, civil unrest, terrorist attacks, other disasters and crises (political and economic), which, in the opinion of Kudos Capital Management, affect the normal functioning of the market;
c) natural disasters and natural disasters such as tsunamis, earthquakes, hurricanes, floods, devastating fires, epidemics, etc. They hinder the provision of Kudos Capital Management services;
d) market destabilization, abnormal market conditions, suspension of negotiations, abnormal commercial conditions, etc .;
e) malfunctions or failures of networks and / or communication channels;
f) Financial insolvency of the liquidity provider, financial institution, intermediary agent, company manager, stock exchange, clearing house, etc., which prevents Kudos Capital Management from fulfilling its functions.
19.2. If Kudos Capital Management have reasonable grounds to believe that a force majeure event has occurred, Kudos Capital Management has the right, without prior notice to the Client:
a) suspend, amend or cancel this Agreement or its clauses, if its implementation is not reasonable under the circumstances of force majeure;
b) suspend the platform;
c) reject new orders of the Client;
d) increase spreads;
e) change the leverage;
f) take any action or refuse any action that, given the circumstances and in the opinion of Kudos Capital Management, may be reasonable in these circumstances for Kudos Capital Management, the Client or other clients.
19.3. Kudos Capital Management is not responsible for losses incurred as a result of failure to comply with obligations under this Agreement due to force majeure.
Limitation of Liability
20.1. If Kudos Capital Management provides the Client with information, news, comments regarding the market, Kudos Capital Management does not guarantee that the information provided is correct and complete, and will not be liable for any damage caused to the Client as a result of inaccuracies or errors in the information provided. ...
20.2. The Client must reimburse the losses and / or costs that Kudos Resource Partners, its directors, employees, affiliates or agents incurred through the fault of the Client.
20.3. Kudos Capital Management will not be legally liable to the Client for any direct or indirect loss, damage, loss of profits, missed opportunity (including opportunities that may arise due to changes in the market).
Claims and Disputes
21.1. Customer complaints must be submitted to Kudos Capital Management by email and in a format approved by Kudos Capital Management. Kudos Capital Management is required to investigate such claims in accordance with the Complaints and Suggestions process as provided in this Agreement as soon as possible.
22.1. This Agreement is governed by the laws of the Special Administrative Region. In the event that the parties cannot resolve a dispute or dispute with each other, such dispute or dispute shall be referred to arbitration and finally resolved by the Special Administrative District Court.