Subject to the provisions of the Investment Services and Activities and Regulated Markets Law of 2007 of Cyprus (Law 144(I)/2007) as amended, since you are interested in dealing with the Company in financial instruments, such as Stocks, Options, Futures, Bonds and Contracts for Difference for the purpose of investing through the Company’s website, mexem.com, for the provision of financial services by Interactive Brokers IE.
You understand that the financial services and clearing agreement shall be entered into by and between you and Interactive Brokers IE. Interactive Brokers is a company duly incorporated under the laws of SEC and FINRA bearing registration number 8-47257 and having its registered office at One Pickwick Plaza, Greenwich, CT 06830 USA.
Interactive Brokers IE has the necessary authorization and license subject to the provisions of the laws of SEC and FINRA to provide financial services according to their license. This is not to be considered as advice or any kind of indication as to what should the client do. The Company merely acts as an introducing broker and/or facilitator for the purpose of the client entering into a financial services agreement with Interactive Brokers IE.
This notice cannot and does not disclose or explain all of the risks and other significant aspects involved in dealing in financial instruments. The purpose of this notice is to explain in general terms the nature of the risks involved when dealing with financial instruments and to help you make investments and take any investment decisions on an informed basis. This notice should be read along with the “Terms and Conditions”, which may be found on our website and along with the Terms and Conditions, Risk Disclosure Statement and other relevant documentation as these are issued by Interactive Brokers IE.
In this respect, clients should consider carefully before trading in financial instruments, as this is suitable for clients who understand and are willing to assume the financial, legal and other risks involved as well as those who are financially able to assume any losses.
Clients are advised to seek independent investment advice, if necessary. The Client should consult with an independent advisor for your investment practices, if you are not sure as to what to do.
Before clients begin to trade, they should obtain details of all commissions and any charges for which they will be liable and should also be aware of the following
• It is emphasized that for many members of the public dealings in financial instruments, including but not limited to Stocks, Options, Futures Bonds and Contracts for Difference will not be suitable. The Client should not engage in any dealings directly or indirectly in financial instruments unless he/she knows and understands the features of the risks involved in them.• The Client should unreservedly acknowledge and accept that, regardless of any information which may be offered by the Company, the value of the financial instrument may fluctuate downwards or upwards and it is even probable that the investment may become of no value.• The Client should unreservedly acknowledge and accept that he runs a great risk of incurring losses and damages as a result of the dealing in Stocks, Options, Futures Bonds and Contracts for Difference and accepts and declares that he is willing to undertake this risk.• The Client should not engage in any dealings directly or indirectly in Stocks, Options, Futures Bonds and Contracts for Difference unless he knows and understands the futures risks involved in them.
• The Client should take the risk that his trades in Stocks, Options, Futures Bonds and Contracts for Difference 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 should be responsible for any taxes and/or any other duty which may accrue in respect of his trades.
• The high degree of “gearing” or “leverage” is a particular feature of the Stocks, Options, Futures Bonds and Contracts for Difference. This stems from the margining system applicable to such trades, which generally involves a comparatively modest deposit in terms of the overall contract value so that a relatively small movement in the underlying market can have a disproportionately effect on the Client’s trade. The Contracts for Difference available for trading with the Company are non delivery spot transactions giving an opportunity to make a profit on changes in currency rates, commodity, stock market indices or share prices called the underlying instrument. If the underlying instrument movement is in the Client’s favor, the client may achieve a good profit, but an equally small adverse market movement cannot only quickly result in the loss of the Clients’ entire deposit but also any additional commissions and other expenses incurred.
• Contracts for Differences (CFDs) are derivative securities, where their price is derived from the price of the underlying reference instruments in which the CFDs refer to. Derivative securities/markets can be highly volatile. The prices of CFDs and the Underlying Reference Instruments and Indices may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the Client or the Company. Under certain market conditions it can be impossible to execute any type of Clients order at a declared price. Therefore Stop Loss order cannot guarantee the limit of loss.
The prices of CFDs will be influenced by, amongst other things, changing supply and demand relationships, governmental, agricultural, commercial and trade programs and policies, national and international political and economic events and the prevailing psychological characteristics of the relevant marketplace. Transactions in CFDs are not undertaken on a recognized exchange, rather they are undertaken through the Company’s Trading Platform and, accordingly, they may expose the Client to greater risks than regulated exchange transactions. The terms and conditions and trading rules are established solely by the counterparty which in this case is the Company.
The Client is obliged to close an open position of any given CFD during the opening hours of the Company’s Trading Platform. The Client also has to close any position with the same counterparty with whom it was originally entered into, thus the Company.• Before the Client begins to trade, he should obtain details of all commissions and other charges for which the Client will be liable. If any charges are not expressed in money terms (but for example as a dealing spread), the Client should obtain a clear written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms.
The value of open positions in Stocks, Options, Futures Bonds and Contracts for Differences subject to swap charges. Swap charges are based on prevailing market interest rates, which may vary over time. Details of daily financing fees applied are available on the Company’s website.
• Clients are required to deposit a minimum of collateral with the Company in order to open a position. The collateral will depend on the underlying instrument of the Stocks, Options, Futures Bonds, Contracts for Difference or any other financial instrument, the level of leverage chosen, and the value of the position to be established.
The Company may not notify the Client of any additional requirements regarding the collateral needed to sustain a loss-making position. The Company has the discretionary right to start closing positions when collateral cannot maintain the Client’s position. The company guarantees that there will be no negative balance in the account when trading CFDs.
October 2023
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