1.The present Terms and Conditions (the “Terms”) govern all actions in respect of the First Protected Positions Tool (the “FPP Tool”), whereby eligible clients of XLNTrade (hereinafter referred to as “we”, “us” or “our”) , a brand name of Securcap Securities Limited (hereinafter the “Company”) will be granted with full protection on their first protected positions (“FPP”) as per the below terms.
2. By accepting and using the FPP Tool you unconditionally acknowledge that you have read, understood and intend to be legally bound by these Terms found on our website.
3. The FPP Tool is available to clients who meet the following criteria:
a. Are registering a new trading account with us;
b. Do not already have an existing account with us ;
c. Are funding their trading account with a minimum deposit of US$200 (US Dollar Two Hundred); and
d. Are eligible to become clients of XLNTrade.
4. The Company will grand to the clients that meet the criteria of these Terms with the following number of FPP, according to the amount of the first deposit that the client funded to his trading account as per the table below:
|First Deposit Amount|
|Number of protected positions
|0 – 499.00 ||5|
|500.00 – 999.00||8|
|1,000.00 – 1,999.00||10|
|2,000.00 or above||15|
* NOTE: the currency will depend on the trading account currency.
8. The Company reserves the right, at its sole discretion, to grant the client with more FPP.
9. The FPP will be credited automatically to the client’s trading account once the client’s trading account registration is confirmed and upon the abovementioned criteria are met.
10. Any funds lost from the FPP will be credited back to the trading account. Any profits generated may be withdrawn by the client, as long as there are no open positions.
11. The leverage available for the FPP is maximum 1:20 accordingly. v.1.12
12. While using the FPP Tool the following minimum and maximum base currency unit amount applies accordingly per symbol:
|Symbols||Min unit amount||Max unit amount|
|CL Future Contracts (Commodity)||5||50|
|NSDQ Future Contracts (Index)||0.1||0.5|
|Aurora Cannabis Inc (Stock)||10||100|
In the event of an exposure larger than the one stated in this clause above, we reserve the
right to revise the position amount.
13. The FPP must be closed at the start of the third (3) day with a maximum duration of seventytwo (72) hours from their time of opening. In the event of the client failing to do so, the relevant position(s) will be automatically closed by the system in the market prices.
14. The FPP Tool shall be valid for fourteen (14) days from the date the first protected position is opened by the client.
15. A Rollover Fee is applied on any protected position left open overnight, and the client undertakes to cover all Rollover Fees. Complete details of the Rollover Fee can be found on the website.
16. In the case of any misuse of the FPP, such as any form of hedging, we reserve the right to cancel the FPP and/or to revoke the FPP Tool and/or terminate the trading account of the client without any further notice. Moreover, should the client use the FPP in bad faith and/or has used its trading account to take advantage of the FPP Tool, we reserve the right to net the profits and losses from the FPP.
17. We reserve the right to amend or withdraw or restrict any of the FPP Terms at any time without notice.
18. All the FPP Terms are essential and binding