InstaForex :: Terms of Agreement of the On Your Side Portfolio Services

Terms of Agreement of the On Your Side Portfolio Services

The present Agreement is made between InstaForex(referred to as "the Company") and InstaForex Client (referred to as "the Client"). The Company offers its Services to its Clients through the Trading Platform(s).

The terms used in these terms are interpreted as indicated herein below. If some of the terms are not described in these terms of agreement, they are interpreted according to the "Terms" section of the Company’s Public Offer Agreement or to those terms, which are commonly used by the participants of financial markets.

Definitions

Available means of communication - shall mean communication between the Client and the Company through any of the available registered forms of interaction in the Client cabinet, phone, messengers, emails.

Company’s Public Offer Agreement (Client Agreement) - shall mean a public offer agreement which is applied by an individual or a company before registration as a Client of the Company.

Client – an individual or a company that concluded the corresponding Client Agreement with the Company and has opened a trading account. In terms of the present Agreement, the Client also means an individual or a company with an opened trading account willing to register with the OYS Portfolio system.

Follower – the Company’s client, an investor in the OYS Portfolio, registered as a follower.

Follower’s account - shall mean the special personal account on the MT4 platform which is registered in the Company for internal calculation and Client’s deposits, withdrawals, gains, losses, charges, and similar related, as well as the amount payable to the Company for the OYS Portfolio service.

Follower Cabinet(area) - shall mean a designated personal area where all account related information is available to the Client.

Monitoring - means a particular page providing information about the Company’s Portfolios.

OYS – an abbreviation meaning On Your Side.

OYS Portfolio – portfolios put together by the Company.

OYS (Portfolio) account – an account registered in the Company to join the OYS Portfolio copy system.

OYS Portfolio service - an investment and/or a trade in CFDs and securities, by copying the trades of the Company’s portfolios the Company have put together.

Present Agreement - means this “Terms of Agreement of OYS Portfolio Services”.

The Company - the Company is considered as the Trader in the case of the portfolio(s) which the Company may have put together.

The Company’s Portfolio account - shall mean the special trading account that is managed by the Company on the MT4 platform consisting of the tradable assets (one or more), Portfolio, for the purposes of
- investments in the Financial instruments to generate profit from such investments,
- creating an active Portfolio for promoting to the Clients with the aim of copying trades to the Followers’ accounts,
- internal automated calculation of the Company’s commissions payable by Followers,
- calculation of profits or losses,
- and similar related trading operations.

The Company’s commission – a commission which the Company receives from the Follower according to a predetermined rate for his participation in the OYS Portfolio system when the Follower chooses to follow the Company and pays that commission.

Scope of Services
1. These Terms and Conditions cover the entire scope of Services provided by OYS Portfolio including, but not limited to, the use of the Company website and/or applications, the use of trading and OYS Portfolio services, data collection and storage practices, downloadable material from the Company and affiliated party’s websites, financial information published on the Company’s website, electronic content, real time information about the exchange rate of some currencies, tools for executing transactions in the foreign exchange market on the internet or by phone and any other features, content or services that we may add in the future. These Terms and Conditions cover any form of communication between the Company and client including email, telephone and any other means of communication the parties agree upon.
2. The Services are offered in relation to transactions in securities, where the holders of equity securities (e.g., shares) can benefit from capital gains by selling stocks; contracts for differences where the underlying assets include foreign currency, shares, indices, commodities, and virtual assets (collectively “CFDs”). The Company reserves the right to modify, suspend or discontinue, temporarily or permanently, all or any part of Company’s Services with or without notice. The Follower agrees that Company will not be liable to the Follower for any modification, suspension or discontinuance of all or any part of Company Services.
3. By using the OYS Portfolio the Follower agrees to use the ForexCopy portfolio management service of the Company.
4. The Company shall provide to the Follower the OYS Portfolio services.
5. The Company shall be reporting to the Follower on the resulting transactions as defined in this Agreement and/or received from the Follower related to the OYS Portfolio services.
6. In making a decision to invest in the Company's OYS Portfolio and/or follow a particular strategy, the Follower shall consider his/her entire financial situation including financial commitments and the Follower understands that using the OYS Portfolio is highly speculative and that the Follower could sustain losses exceeding the amount used to invest in the OYS Portfolio and up to the total substantial amount invested in his/her account.
7. The Follower has reviewed and acknowledged the risks associated with the OYS Portfolio as more fully described herein, including but not limited to, automated trading execution whereby the opening and closing of trades will happen in his/her account without his/her manual intervention.
8. The Follower authorizes the Company to execute all actions undertaken by the Company the Follower chose to invest in. These actions are done automatically once a deposit made by the Follower is received by the Company and deposited to the Follower’s OYS Account and does not necessarily require any pre-authorization for the investment to be initiated by the Company. The Follower hereby acknowledges that at any time, upon his/her sole discretion, the Follower can stop any OYS Portfolio activity performed by the Follower by communicating the request via the Copy Portfolio System or contacting the Company by phone, email or any other available means of communication.
9. The provision of the OYS Portfolio does not constitute investment advice on our part. The Follower is using the OYS Portfolio at his/her own risk and Company and its affiliates, employees, clients and agents shall not be liable for any losses that the Follower may sustain as a result of the Follower using such features.
10. The Follower confirms understanding that due to the structure of subscription fees in particular cases he/she may pay even if the result of copying is negative for him/her. He/she also confirms that in some cases subscription fees can be substantial; all the fees are determined by the Company and are approved by the Follower when he/she subscribes to the Copy Portfolio service.
11. The Client agrees that subscription to the Copy Portfolio Service occurs at the moment of registration of the OYS Client’s account via the Client Cabinet.
OYS Portfolio system – the Company
1. The Company will generate commission from the Follower, where the Company’s commission is an agreed fee from copied transactions on the Followers’ accounts during the whole period of the offer.
2. The Company confirms that it is taking part in the OYS Portfolio system with the best intentions and acts in the best interest of Followers who are copying the Company’s Portfolio.
3. The Company shall provide participants of the OYS Portfolio system with an access to the IT system of the Company designed for remittance of information between different accounts in order to allow interested parties to copy other parties’ trades, where the Company acts as a means of interchanging information and also as a manager of fees charged from the Company to the Follower and remunerated to the Company.
4. The Company bears no liability to participants of the OYS Portfolio system for lost profit or losses, which may directly or indirectly occur as a result of trading operations performed or not performed by the Company. The Follower acknowledges and assumes all risks. The Follower understands that risk disclosure may not contain full information about possible risks and assumes any risks reasonably caused by the Company or a third party. The Follower acknowledges the risk of any losses incurred by him/her resulting from his/her investment in OYS Portfolio.
5. The Company bears no liability to participants of the OYS Portfolio system for lost profit or losses that may directly or indirectly occur as a result of their ignorance of the regulatory documents or cooperation schemes.
6. The Company is not liable for:
  a) The Follower losing access to his/her trading accounts, as well as the third parties gaining access to these accounts. In this case, all possible risks fall on the Follower.
  b) Unforeseen delays when withdrawing funds or transferring them between accounts (if these delays occur through no fault of the Company).
  c) Technical malfunction, if it occurs through no fault of the Company, but of the Company’s partner or other parties that are not the Company’s employees.
  d) The Follower’s losses if they occur during the maintenance operations on the Company’s servers.
7. The Follower acknowledges that under the present Agreement the Company shall provide technical implementation of the OYS Portfolio system disclaiming any responsibilities for the results of trades on the Follower's account.
Risks Associated with Copy Trading
The Company provides the Follower with the ability to interact, follow and copy the OYS Portfolio by using information and/or copy trading features provided and/or made available on the Company’s website and/or trading platforms. The OYS Portfolio is associated with various risks and the Follower is urged to carefully read and consider the following risks before utilizing the OYS Portfolio system:
1. The OYS Portfolio involves automated trading execution which means that trades are opened and closed in the Follower’s account without the Follower’s manual intervention.
2. In making a decision to invest in the OYS Portfolio and/or follow a particular strategy, the Follower has considered his/her entire financial situation including financial commitments and the Follower understands that using OYS Portfolio is highly speculative and that the Follower could sustain losses exceeding the amount invested in the OYS Portfolio and up to the total amounts invested in his/her account.
3. The Company and its affiliates and their employees and agents are not investment or financial advisers. If the Follower makes investment decisions in reliance on information which is available on the Company’s website or as a result of the use of the OYS Portfolio features, the Follower does so at the Follower’s own risk whereas the Company and its affiliates, their employees and its agents shall not be liable for any losses that the Follower may sustain.
4. The Follower should not make any investment decision without first conducting his/her own research. The Follower is solely and exclusively responsible for determining whether any investment, or strategy, or any other product or service is appropriate or suitable for him/her based on the Follower’s investment objectives and personal and financial situation.
5. If the Follower places additional trades in his/her account or the Follower modifies or cancels an order generated by the OYS Portfolio, the Follower may achieve a materially different result than the Company.
6. The Follower shall agree that if by any technical/organizational reason his/her subscription to OYS Portfolio is stopped by means other than un-subscription done by him/her or the Company, the Company is not accountable for opened trades which were left open following such un-subscription. The Follower accepts that the probability of such trades left opened may be profitable or equally result in a loss. In case the Follower didn't request trades to be closed (including cases when he/she was not informed that subscription was stopped because of technical or organizational issue) he/she accepts the above and any risks arising from continuing to have the trades open.
7. The Follower confirms that the OYS Portfolio is a technically sophisticated service and particular bugs may occur in future from time to time with relatively high probability. He/she confirms that the OYS Portfolio doesn't make decisions about trades itself but only transmits information about trades from one account to another. Thus, in situations where transmittance is done with error (or was not done because of errors) is accepted by the Follower as a random circumstance which doesn't impact mathematically the probability of him/her getting a profit or loss and thus cannot be considered as a reason to claim from the Company any unreserved profits or restore any losses received in excess comparing to situations when such transmittance of information was done without error.
8. A copied Company’s positions (with respect to any of financial instruments) shall be copied in an amount equal to either the minimum position amount or the proportional amounts of the copied trade to the realized equity of the copied OYS Portfolio as the basis for the proportions of copied trades. Such positions shall have the corresponding leverage to the maximum extent possible. Trades below the minimum trade amount shall not be opened. All such positions shall not be accepted by the Company, for whatsoever reason, without providing any further notice and without any action on the Follower’s part. The Follower should be able and prepared to bear the loss of the entire investment he/she made as a result of a deposit of the amount below the minimum or a trade request under the minimum trade amount. The Follower is fully responsible for any losses he/she sustains as a result of our execution of instructions generated as a result of the utilization of any of the OYS Portfolio features.
9. The past performance statistics appearing on the Company’s website and applications are not indicative of future results and should be considered as hypothetical. It is important to understand that past performance is not a guarantee of future performance. No representation or guarantee is being made that any account will or is likely to achieve profits or losses similar to those shown. There is also no guarantee that a risk score of the OYS Portfolio shall not in fact be higher. The Company does not guarantee the placement of any order. Therefore, the Follower may lose up to the original amount deposited to the account dedicated to the specific Portfolio.
10. Past performance should be considered as a hypothetical performance result. Hypothetical performance results have inherent limitations. No representation or guarantee is being made that any account will or is likely to achieve profits or losses similar to past performance. The actual percentage gains/losses experienced by the Follower will vary depending on many factors, including but not limited to: starting account balances (including deposits and withdrawals), market action, the Follower’s account settings and the actual performance of the copied Company’s Portfolio.
11. No aspect of the information on the OYS Portfolio system made available on the Company’s and affiliated party’s websites is intended to provide investment, tax or other financial related advice of any kind. Do not consider any such content to be a substitute for professional financial and investment advice. If the Follower chooses to engage in transactions by electing to copy a specific Portfolio, then such decisions and transactions and any consequences are the Follower’s sole responsibility. The Company and its affiliates do not provide investment advice directly, indirectly, implicitly, or in any manner whatsoever by making such information and/or features available to the Follower. The Follower should always conduct his/her own independent research and investment decision making.
Terms of Use of the OYS Portfolio system
1. The OYS Portfolio system is a software product designed to technically implement and automate all copying processes occurring between trading accounts registered with the OYS Portfolio system. The OYS Portfolio system shall provide automated processes as follows:
  a) Registration of the Follower in the OYS Portfolio system;
  b) The Follower's subscription to the Company's account for the purpose of copying and subsequent execution of the Company's orders on the Follower's account.
  c) Calculation of a quarterly commission to be paid by the Follower to the Company for profitable trades;
  d) Calculation of a commission at the moment of liquidation of copied from the Company’s Portfolio positions (closing or selling assets in the copied Portfolio) to be paid by the Follower to the Company;
  e) Commission crediting to the Company's MT4 account;
  f) Commission deduction from the Follower's MT4 account;
  g) Adjustment by the Company of copying terms to copy trades to the Follower accounts;
  h) Adjustment by the Follower of subscription parameters to copy trades;
2. The Company shall record the Follower's request to copy trades from the Company's Portfolio and start copying trades from the Company's account to the Follower's account if the request has been accepted by the Company. The Company shall start copy trades from the Company’s Portfolio to the Follower's account in real time with the maximum admissible delay of the 24 hours if the Follower’s account satisfies terms of the present agreement.
3. If the Follower’s account doesn’t satisfy the terms for copying trades from the Company’s Portfolio, then the Company shall inform the Follower by any of the available means of communication within 48 hours.
4. The Client agrees that by default the Company will copy trades to the Follower’s account from the Company’s account in the full available amount on a dedicated On Your Side type of account unless special conditions for copying orders are predetermined beforehand.
  The Client may request for special conditions of orders execution (partial copying, setting stop loss or take profit orders etc.) on the Follower’s account by sending a request to the Company by any available means of communication.
  The Client irrevocably agrees with the possible consequences of this allowable deviation of price execution of the copied instrument from the Company’s account.
  The additional trades might be copied from the Company's Portfolio to the Follower's account in real time with the admissible delay of 24 hours.
  The Client agrees with alterations or closing positions by copied trades from the Company’s account on the Follower’s account by sending the instruction via the available means of communication.
5. The OYS Portfolio system shall be available to any of the Company's verified clients in the Client Cabinet after the client has been registered with the OYS Portfolio system as the Follower.
6. The OYS Portfolio system implies possible risks related both to CFDs and securities trades made by the Company and copied by the Follower and possible technical deficiencies due to drawbacks of a trading platform or the OYS Portfolio system.
7. In case the Follower or the Company has requested to unsubscribe from copying trades, the Company shall process the request with the maximum admissible delay of 24 working hours after the receipt of the valid request. The profits to be paid to the Follower may differ from the profits displayed in the Follower Cabinet at the moment of the cancellation request receipt, including cases when the Company has suffered losses and the Follower’s trades have been closed at a Stop Out level at the moment of an information update.
8. The subscription to copying trades in the OYS Portfolio system shall be cancelled if:
  a) The Company closes the OYS Portfolio;
  b) The Follower cancels subscription by clicking “Unsubscribe” in the Follower’s cabinet or sends a direct order to the Company by any available means of communication;
  c) The money available on the Follower's account is not sufficient to pay a commission to the Company or any other fee.
Use of the Client’s money
1. Unless we separately agree to do so with you, we will not pay you interest on any client money we hold. If interest is accumulated on such funds, it shall not be deemed a part of the clients' funds and shall not be credited to your account.
2. The Company may use the money in your OYS account to pay fees, costs or charges which become due and payable. Where you enter into a transaction, all fees, costs, and charges for that transaction will become due and payable immediately upon execution, and therefore we will deduct the relevant sum from your OYS account at that point. Money which is due and payable will stop being treated as client money in accordance with applicable law.
Prices
1. The trading platforms of the Company will display the indicative price to buy and the price to sell for each product. This is called a "quote". The quote is not an offer by the Company to buy or sell any products. We generally do not provide quotes over the phone, but may do so at our discretion.
2. We are responsible for setting the price of instruments and products which can be traded on the platforms of the Company. This means that our quotes will be different from the prices provided by other brokers, the market price, as well as the current prices on any exchanges or trading platforms.
3. Although, when we provide a quote, we may take into account the price that we receive from a broker, the market, or any exchanges or trading platforms, we are under no obligation to do this, and we are under no obligation to ensure that the quotes which we provide are within any specific percentage of such price.
4. If the prices on a market, exchange or trading platform are distorted, for example during a short-term price spike, or during pre-market, post-market, or intra-day auction periods, we may reflect similar prices in our quotes, but we are under no obligation to do this.
5. Quotes are updated constantly which means that the price to buy or sell may change between the time that you place or confirm your order, and the time that we execute your order. We will tell you the price that your order was executed at.
Dispute resolution
1. In case a participant of the OYS Portfolio system is not satisfied with any of its aspects, they have the right to file a complaint according to the Company’s Public Offer Agreement and the Complaint Handling Procedure, as on the Company’s website.
Application of Terms of Agreement of the OYS Portfolio system
1. These Terms of Agreement come into effect for both the Company and the Follower on the date of accepting them by the Follower/the Company. The termination date of this document is the same as the termination date of the Company’s Public Offer Agreement.
2. In case any conflicts between articles of these Terms of Agreement, the Company’s Public Offer Agreement, or any other regulatory document of the Company arise, the articles of this document are considered prevailing over the articles of other regulatory documents.
3. The Company has the right to make amendments to the articles of these Terms of Agreement at any time. The changes come into effect and become obligatory for the Follower on the date specified in the sent informational message.
Technical Regulations of the OYS Portfolio system
1. Registration of the Follower. After the Client has accepted the present Agreement and chosen his/her role in the OYS Portfolio system as the OYS Portfolio Follower then he is registered as the Follower.
2. The Follower's request to copy trades. The Follower shall request to copy trades of the Company in the Follower Cabinet by selecting the Company’s Portfolio in the monitoring list or on a separate website dedicated to the Portfolio registration. In case the Company has accepted a request or registration in the OYS Portfolio that was done through the special account type called On Your Side account, the copying trades will start within 24 hours. In case the Company has declined the request over the available means of communication, the system will not start copying trades to the Follower's account.
3. The Company's acceptance of a new request to copy trades. New requests to copy trades shall be available to the Company in the Portfolio System. The Company shall be entitled to accept or decline any request before or after the conditions to start copying are fulfilled by choosing a corresponding option within 24 working hours after the request has been received. In case the Company ignores the request, it will be deemed as automatically cancelled in 24 working hours after it has been received.
4. A start of copying trades to the Follower's account. After the Company has accepted a request to copy trades to the Follower's account, the system shall start copying trades with the maximum admissible delay of 24 hours since the moment of fulfilling all requirements for copying by the Follower.
5. By default, trades are copied to the Follower’s account on the whole available balance on the OYS account. However, the Follower can modify the amount for copying trades on an OYS account through the Client Cabinet or by making a request to the Company over any available means of communication.
6. Termination of copying trades to the Follower's account. After the Follower has unsubscribed from copying trades, the system shall terminate the process of copying the OYS Portfolio with the maximum admissible delay of 24 hours.
7. The Follower's new request to copy trades. If the Follower deposits additional funds on an OYS account, then the new funds will be added to the copy trading by default unless additional instructions are given to the Company.
8. Information update about profits/losses of the Company and the Follower. The information about profits/losses of the Company and the Follower shall be provided regularly. The information shall be available in the Client Cabinet and MetaTrader account of the Follower.
9. Commission crediting the Company's account. A commission is calculated on the basis of the terms agreed by the Follower as described by the Company within the period of subscription to the specific OYS Portfolio.
10. Replenishment of the Follower's account. The Follower may replenish his trading account by a standard replenishment procedure in the Funds area of the Client Cabinet. The deposited money shall be credited to the Follower's account that was selected while deposit procedures and only after the Company receives the funds.
11. Access to the OYS Portfolio statistics. The OYS Portfolio statistics include:
  a) Monitoring of accounts in the Client Cabinet of the Company. The monitoring page may have a mirror on the Company's website and/or websites of the Company's official partners;
  b) Balance and equity information recorded at the latest update;
  c) Current copying from the Company’s accounts and subscription history;
  The OYS Portfolio statistics provided by the Company are designed to enable the Follower to monitor activities of the Company. However, the Follower shall be aware of possible delays in statistics update that shall not exceed 1–2 hours in normal conditions.
12. Automatic closing of trades on the Follower's account.
  a) In case the Follower lacks funds in the account for copying trades, recently copied trades shall be closed on the Follower's account at the current price.
  b) In case the Follower lacks funds to pay commission to Company, recently copied trades on the Follower's account shall be closed at the current price.
Additional provisions
1. The Followers have already read and accepted the Public Offer Agreement which sets general business rules before accepting the present Agreement.