Istithmar Limited is incorporated in Saint Vincent and Grenadines under the company number 24814 IBC 2018.
Trading in Contracts For Differences (CFDs) carries a high level of risk to your capital. You may incur profits or losses of many times the amount of your stake or the money you originally deposit with us. Only trade with money that you can afford to lose. Debts incurred through CFD trading are legally binding and enforceable. Make sure you fully understand the risks involved and take advice if necessary. CFD trading may not be suitable for all individuals. We bly recommend that you read the Risk Warning notice that forms part of these Terms and Conditions and is also available on our website.
If you are unable to understand any part of either these Terms and Conditions or the Risk Warning or Execution Policy you should contact Istithmar Limited (Saint Vincent) with your questions before agreeing to them.
This includes any Transactions placed by an Authorised Third Party or any person giving the client's name, account number and/or password.
Accounts and/or other terms issued in respect of transactions contemplated by these Terms and Conditions, which together are referred to as this "Agreement".
The Client has the right to deposit into their trading account only using the payment systems available in the “Deposit” section of the Company’s Istithmar Login (a secure trading accounts management facility; our proprietary internet gateway that allows the Client to manage his Trading Accounts within a secure and safe environment).
In this Agreement (and in addition to expressions defined elsewhere on our website) the following words and expressions shall have the following meanings:
"Account Balance" is the "cash balance" on your account (your account balance does not include profits or losses on any open Positions).
"Applicable Laws" means any national, local or other statute, law, rule, code guidance, order or decision of a Governmental Authority.
"Application Form" means the application form supplied by Istithmar Limited (Saint Vincent) in relation to these Terms and Conditions.
"Associated Company" means any holding company or subsidiary company (as defined in the Companies Act 2006) within the Istithmar Limited (Saint Vincent) group and/or any subsidiary company of any such holding company or its subsidiaries.
"Authorized Third Party" means a person authorised by you to initiate trades or close existing trades using your account details, as referred to in Clause 15.
"Bet" (including "betting", "dealing" , "trading") or other similar words express a reference to a client entering into a Transaction. "Bid" or "bid price" is the price at which the Client can sell.
"Buy" (including "Take", "Up Bet", "Go Long" “Long", "Long Position") is defined as making a buy Transaction or buying the market quoted by Istithmar Limited (Saint Vincent).
"Client" (including "you", and "your") means a person or company who has opened an account with Istithmar Limited (Saint Vincent) and has agreed to be bound by these Terms and Conditions.
"Client Money/Monies" refers to your funds in your account which is held by Istithmar Limited (Saint Vincent).
Clients of Istithmar Limited (Saint Vincent) retain full titles to their monies, subject to usage requirements.
"Credit Account" is an account where Istithmar Limited (Saint Vincent), at its sole discretion, has offered you a credit line to use as Trading Resources.
"Contract For Difference", "CFD" or other similar words express a reference to a client placing a CFD trade.
"Default Event" shall be deemed to have occurred where:
"Deposit Account" is an account where you need to deposit funds before you can commence trading.
"DTP" is any Downloadable Trading Platform provided by Istithmar Limited (Saint Vincent) for trading our markets.
"Execution Policy" means Istithmar Limited (Saint Vincent)'s order Execution Policy which may be amended from time to time. A summary of the current Execution Policy is available on our website
"Expiry Date" means the expiry date and time of a Transaction.
"FX", (including "Forex" refers to currency trading, "Gapping" as is detailed in Clause 7.
"If Done Order" means an order that is only triggered on the activation of another attached order. For example, if a New Order is activated, you may wish to pre-set a Stop Loss and/or a Limit order. These additional orders are deemed "If Done Orders".
"IMR" (including "Min IMR") means Initial Margin Requirement which represents the minimum Trading Resources (Free Margin) required to place an opening trade in the minimum trade size permitted by Istithmar Limited (Saint Vincent). (i.e. if you have a Sterling Account and the Min IMR in a market was 50 then to place a unit trade size of £3 you would require at least £150 (£3x50) of available resources to do so) "Insolvency Event" means and shall occur:
"Limit Order" refers to an instruction to take a profit on an open trade if our quote reaches the level requested or as a contingent (‘If Done’) instruction on a New Order.
" Istithmar Limited (Saint Vincent)", " Istithmar Limited (Saint Vincent)" (including "we", "us", "our" and "ourselves" as appropriate) the retail division of Istithmar Limited (Saint Vincent).
"LSE" the London Stock Exchange.
"Margin" a term that describes the cash required or being used on your account to either open Transaction or run your Positions. See Clause 7.
"Margin Call" a request for Margin payment as referred to in Clause 8.
"Margin Requirement" is the amount of cash or credit resources required to maintain your existing open Positions.
"Market" refers to indices, share, currencies, commodities, bonds and interest rates or any other product that may be quoted by Istithmar Limited (Saint Vincent) from time to time.
"Contract Specifications" refers to the document available online that details Istithmar Limited (Saint Vincent)'s current Quoting Hours, Min IMR, Overnight Financing interest rates, other market specifications and other rates applicable to the Transactions and Positions as determined by us for you.
"New Order" is an instruction to open a new Transaction at a possible future price based in the Istithmar Limited (Saint Vincent) Quote.
"Offer" or "offer price" is the price at which the Client can buy.
"Order Book" the window on the OTP where your working orders are listed.
"OTP" is any Online Trading Platform provided by Istithmar Limited (Saint Vincent) for trading our markets.
"Overnight Financing" is the credit or debit applied to your account when you hold a Position in certain contracts overnight and including non-business days.
"Pricing Error" is defined as a misquote by Istithmar Limited (Saint Vincent) where the price quoted materially and clearly deviates from the prevailing market price (or the forward calculated market price) at the time that it was quoted. A Pricing Error as defined, but not exclusively, is a Bid price or Offer price which varies above or below the prevailing mid-market price of the underlying product by more than the size of the quoted bid/offer spread of that product. For example a bid/offer quote by Istithmar Limited (Saint Vincent) in the FTSE Quarterly contract of 4804 - 4808 when the correct quote should have been 4797 - 4801 may be considered to be a Pricing Error as the Istithmar Limited (Saint Vincent) Bid of 4804 is more than the quoted spread of the product (in this case 4) away from the midpoint (4799) of the correct quote.
"Position(s)" means open Transactions.
"Rolling Daily" refers to Positions that automatically roll into the next trading day without incurring any profit or loss. Such Positions usually have a long Expiry Date (sometimes many years in the future) and attract Overnight Financing.
"Quote", "Our Quote", " Istithmar Limited (Saint Vincent) Quote" is the price quoted by Istithmar Limited (Saint Vincent) via an OTP or a DTP or over the telephone. All Quotes are based upon an Underlying Market that is sourced from either a recognised global exchange or from a wholesale counterparty.
"Quoting Hours", " Istithmar Limited (Saint Vincent) Quoting Hours" are the times detailed in the Contract Specifications when Istithmar Limited (Saint Vincent) quotes its markets. Istithmar Limited (Saint Vincent) will not quote any markets outside of its opening hours.
"Sell", (including "Go Short", "Short", "Short Position") is defined as making a sell Transaction or selling the market quoted by Istithmar Limited (Saint Vincent).
"Size(s)" refers to the size of the buy or sell Transaction. The standard, minimum and maximum trade sizes and stake sizes that Istithmar Limited (Saint Vincent) allows can differ from market to market and product to product and are further detailed in the Contract Specifications.
"Stop", "Stop Loss" is an order to close an open Position at a pre-determined level.
"Trading Partners" are anyone with whom Istithmar Limited (Saint Vincent) has a contractual relationship, for example a joint venture relationship, partnership relationship, agency relationship, white label relationship or introducing broker relationship.
"Trading Resources" (or “Free Margin” or “available Margin”) is the amount of money available on your account that may be apportioned to new Transactions or to moving current Stop levels.
"Transactions" means any buy or sell trade or CFD trade made between you and Istithmar Limited (Saint Vincent) (including to close a Position) and includes any other such transaction made between Istithmar Limited (Saint Vincent) and you as may be agreed from time to time and on a case by case basis.
"Underlying Market" is the physical underlying assets from which our markets are derived, and the market in which those assets are traded.
Istithmar Limited, Frist Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent and the Grenadines, is incorporated in Saint Vincent and the Grenadines and regulated by the Financial Services Authority of Saint Vincent and the Grenadines under Number: 24814 IBC 2018.