The terms of this Agreement are available on our website (www.bd-fx.com). If you agree to these Terms & Conditions and wish to use the services we provide, please select the consent checkbox and submit (or click the [I Agree] button). Together with any additional rules, policies, and disclaimers published on the website or otherwise notified to you, this Agreement constitutes a binding contract between you and us and, to the extent permitted by applicable law and regulation, your electronic consent shall be valid as a written signature (an “electronic signature”).

We may amend this Agreement by posting a revised version on our website without prior notice. Any breach of this Agreement may result in termination of your account.

Our online trading facilities must not be used in jurisdictions where an offer or solicitation is not permitted. Users who access our website are responsible for informing themselves about, and complying with, any local restrictions.

Subject to this Agreement and your consent during account opening, we will maintain an account in your name and execute cash-settled transactions with or for you in over-the-counter foreign exchange (FX) and spot-based contracts for difference (CFDs). Unless expressly stated otherwise in writing, all agreements and transactions between you and us (including trading policies and procedures) are governed by this Agreement as amended from time to time.

For trade execution, settlement and related functions, we may use third-party service providers, including off-exchange counterparties, clearing and settlement agents, receiving/remitting banks, custodians and liquidity providers. While we will exercise commercially reasonable care in selecting and supervising such third parties against appropriate standards, you acknowledge and agree that delays may occur in execution, booking, remittance or withdrawals due to system outages, closures, restrictions or other causes beyond our reasonable control (except where caused by our gross negligence or wilful misconduct).

We segregate client money from our proprietary assets for accounting purposes; however, we may place funds with liquidity providers (LPs) or other third parties to the extent reasonably necessary for trade execution and settlement. In such cases, Article 10 (Refunds & Withdrawals) of this Agreement shall apply.

As of the date you enter into this Agreement and at each time of trading, you represent, warrant and agree that:

• If you are a natural person, you are of legal age (18 years or older) and have full legal capacity. If you are a legal entity, you are duly organized and validly existing under the laws of the relevant jurisdiction and have the requisite authority to enter into and perform this Agreement and any transactions hereunder.
• The execution and performance of this Agreement and your transactions do not violate any law, charter, by-law, or rule applicable to you.
• You are the beneficial owner of the account and have not granted any third-party rights over it (other than the security interest granted to us under this Agreement).
• You have read, understood and will review our risk disclosures, trading policies and procedures, including any updates. You must not trade unless you understand them.
• All information you provide (including trading experience and financial situation) is true, accurate and complete, and you will promptly notify us of any changes.
• You agree to comply with all applicable laws and will not use your account for unlawful purposes.

In accordance with this Agreement and the account application annexes, we will buy and sell spot FX and other CFDs in your account based on instructions received via our online trading system or by telephone. You are responsible for electronic instructions where the password and account number match, or where we reasonably believe the instruction was given by an authorized person. For joint accounts, we may act on the instructions of any one account holder.

• Pricing Information. We quote bid/ask prices based on prices at which we are prepared to deal as counterparty or which we receive from third parties. Due to communication latency or market movements, quoted prices may diverge from prevailing market prices, and we do not guarantee that our quotes will always be the best or reflect current market levels. Spreads may include markups that vary by introducing broker or account type (see Article 9).
• Order Execution. We will use commercially reasonable efforts to execute your orders. Where market prices differ from quoted prices, we will seek to execute at the then-available price or a price close thereto. You agree that limit, stop and other orders are accepted on a best-efforts basis.
• Obvious Error. If, due to input mistakes, feed anomalies, or clear discrepancies in third-party rates, a trade is executed at a price materially away from normal market levels, we may, on reasonable grounds, cancel the trade or amend the price. We will notify you of the basis and action taken as soon as reasonably practicable.
• Transmission. We are not liable for delays or failures in transmitting your instructions arising from interruptions of communication facilities (except where caused by our gross negligence or wilful misconduct).
• Position and Trading Limits. We may, at our discretion, impose limits on open positions and/or new orders.

You must provide and maintain margin in such amounts and forms as we determine from time to time. Margin requirements may change without prior notice. If a deficiency arises, we may request additional margin (a “margin call”). We may liquidate positions in accordance with Article 8 and deduct fees and expenses from your account.

As security for all debts and obligations you owe us, you grant us a security interest and rights of set-off over assets in and outside your account. We may sell, rehypothecate or transfer collateral as necessary and are authorized to prepare and file any documents or notices as your agent.

If you wish to take physical delivery, you must instruct us at least two (2) business days prior to the value date. Absent instructions, we may, at our discretion, roll, offset or otherwise manage the position. Delivery is typically made by wire transfer.

If an event of default occurs, margin is insufficient, or we otherwise consider it necessary, we may, without notice, buy or sell assets, cancel unfilled orders, and apply proceeds to your obligations. If liquidation results in a negative balance, we will, in principle, adjust the balance to zero and you will not incur a top-up obligation (limited negative balance protection).

However, we may claim all or part of any negative balance from you in the following cases:

• (i) Losses significantly exceeding usual stop-out levels due to extreme market movements, weekend/holiday gaps or similar events;
• (ii) Fraudulent or abusive conduct, market abuse, misuse of arbitrage (including cashback arbitrage), or trading in breach of this Agreement;
• (iii) Abnormal outcomes caused by system errors, obvious errors, communication failures, or third-party outages;
• (iv) Losses arising from deposit/withdrawal fraud, mis-transfers, chargebacks or similar events;
• (v) Where applicable law requires us to recover such amounts.

Even if we waive or offset a negative balance at our discretion, we are under no obligation to take the same measure in the future.

If you maintain multiple accounts with us, we may, within reasonable bounds, set off balances or move funds among accounts to settle unpaid obligations or negative balances. After set-off, only the net balance will belong to you.

We are remunerated primarily through spreads and/or commissions. We may charge banking-related fees such as transfer fees or recall fees. Our fee schedules may change without prior notice. Optional value-added services may incur additional charges.

We will endeavour to process withdrawals promptly within the bounds of applicable laws, sanctions, restrictions and compliance policies (including AML/CFT and KYC). Where necessary, we may request identity verification, confirmation of funding routes, and supporting documentation.

As a principle, withdrawals are remitted to the same method and in the same name as the initial deposit. If that method is unavailable or impracticable due to applicable laws, payment networks or other constraints, we may, with your instruction/consent, remit via a reasonable alternative method and/or currency. Third-party fees and FX differences incurred during transmission may be borne by you.

Withdrawals may be delayed or restricted due to causes beyond our reasonable control, including banks, payment providers, clearing houses, beneficiary banks, market holidays, system maintenance, or third-party compliance reviews. We will use commercially reasonable efforts to mitigate such effects and complete processing (except where delay is caused by our gross negligence or wilful misconduct).

If funds held with our LPs, payment providers, clearing houses or other third parties are temporarily frozen, restricted or withheld due to law, regulation, internal investigation or market disruption, withdrawal or refund processing may be delayed or refused. In such circumstances, we will liaise with the relevant parties to seek a prompt resolution; however, we are not liable for delays, restrictions or refusals arising from causes beyond our reasonable control. You acknowledge and agree to this risk.

Withdrawal requests duly received and approved under this Agreement are ordinarily processed by us within five (5) business days. Actual crediting times may vary due to individual reviews, cross-border payments, holidays and third-party processing times.

We are not responsible for delays or non-receipt caused by incomplete or incorrect withdrawal instructions (except where due to our gross negligence or wilful misconduct).

We handle complaints transparently and promptly, aiming to resolve them within 30 business days. For complex cases, we will notify you of any reasons for delay.

• Please send a written complaint to support@bd-fx.com with the necessary details (account number, name, contract details, facts, remedy sought, supporting materials, etc.).
• We will acknowledge receipt within five (5) business days and notify you of our final view (and any remedy, if applicable) upon completion of our investigation.

We maintain an internal register and keep appropriate records of complaints, their progress and outcomes.

Referral or introduction fees may be paid. IBs are responsible for solicitation and explanations; we are responsible for clearing, execution, record-keeping, margin control, statements and complaints handling.

Due to CFTC regulations, we do not open accounts for U.S. persons or U.S. residents. You must notify us immediately if you are or become a U.S. person/resident. We may suspend, liquidate or close accounts as necessary.

Online trades are confirmed immediately. For telephone trades, verbal confirmation is available until 21:30 (GMT) on the trade date. If you dispute any entry, notify us verbally within that deadline and confirm in writing within two (2) business days. Errors will be corrected whether to your benefit or detriment.

Notices from us take effect when posted on our website or sent to your registered address. Notices from you take effect only upon our receipt.

We are not liable for losses or expenses arising directly or indirectly from acts of God, war, governmental actions, communication or power failures, extreme market movements, or third-party service provider outages, processing delays or closures, where such events are beyond our reasonable control. This does not limit our liability for losses caused by our gross negligence or wilful misconduct.

Intellectual property rights owned by us or third-party service providers are protected. You must keep confidential information secure and must not perform reverse engineering or similar activities.

You will indemnify us for losses and expenses (including reasonable legal fees) arising from your breach of this Agreement.

We handle your information in accordance with our Privacy Policy. Information may be disclosed where required by law or court order.

All joint account holders are jointly and severally liable under this Agreement. Trustees and similar fiduciaries shall hold us harmless from claims arising from their status.

We may amend this Agreement at any time. Amendments apply at the earlier of ten (10) days after website publication or your next order. If you object, you must close positions and instruct us regarding your assets within ten (10) business days.

Either party may terminate this Agreement. Termination does not affect existing contracts and obligations. You may not terminate while you have open positions or outstanding obligations.

This Agreement supersedes any prior oral or written agreements and constitutes the entire agreement between you and us.

We may record and retain telephone calls and other communications with you, and such records may be used as evidence in the event of a dispute.

This Agreement is for the benefit of our successors and assigns and is binding upon you and your successors, heirs and assigns.

This Agreement is governed by the laws of Saint Vincent and the Grenadines, excluding its conflict-of-law rules. The courts of Saint Vincent and the Grenadines shall have exclusive jurisdiction. Service of process may be effected by registered or certified mail sent to the address stated on our website or updated pursuant to Article 15. If any provision is held invalid, the remaining provisions shall continue in full force and effect.

We are registered and incorporated in Saint Vincent and the Grenadines and conduct our business in accordance with its laws.

Where necessary and subject to legal and compliance requirements, we may apply or transfer contracts, currencies, securities or other assets between your accounts with us, or between your account with us and your approved accounts held at other financial institutions.

By accepting these Terms, you confirm that you have carefully read and understood the Customer Agreement, Authority to Transfer Funds, Consent to Electronic Delivery of Statements, Risk Disclosure, and our Trading Policies & Procedures, and that you agree to all provisions therein.

You also represent that the information provided at the time of account application is true, accurate and complete, and agree to compensate us for any losses arising from false or incomplete information.