Terms and Conditions

 

1. Definitions and Interpretation

1.1 In these Terms and Conditions (the “Agreement”), the following terms shall have the following meanings: –

• Account: The trading account opened by the Client with the Company, through which the Client may execute Orders and manage their funds.
• Agreement: These Terms and Conditions, together with any policies, schedules, addenda, or supplemental agreements incorporated by reference, including but not limited to the Privacy Policy, Complaints Policy, Order Execution Policy, and the Restricted Jurisdictions provisions set out in Section 41.
• Applicable Law: The laws, rules, and regulations of the jurisdiction governing the specific Bancara contracting entity, as set out in Section 2.
• Authorised Person: Any person authorised by the Client to act on their behalf in relation to the Account, subject to the Company’s prior written approval.
• Base Currency: The currency in which the Account is denominated and in which all statements, balances, and reports are provided.
• CFD: A Contract for Difference, a derivative product allowing the Client to trade on the price movement of an underlying asset without owning the asset itself.
• Client (or “you”): The individual or legal entity that has completed the account opening process, passed all required verification checks, and been formally accepted by the Company.
• Company (or “Bancara”, “we”, “us”): The specific Bancara entity acting as the counterparty to the Client, determined in accordance with Section 2 and explicitly identified to the Client upon Account approval.
• Force Majeure Event: An event beyond the reasonable control of the Company, as further defined in Section 28, which may affect the Company’s ability to perform its obligations under this Agreement.
• Margin: The required funds to open and maintain a position, calculated as a percentage of the total position value.
• Negative Balance Protection: The contractual commercial feature described in Section 13, applicable to all Retail Clients unless otherwise specified in the Contracting Entity Schedule.
• Order: An instruction from the Client to execute a trade, including market orders, limit orders, and stop orders.
• Platform: The trading software, web interface, and mobile applications provided by Bancara for the execution of Orders and management of the Account.
• Restricted Jurisdiction: Any jurisdiction identified in Section 41 (Restricted Jurisdictions) of this Agreement, as updated from time to time, where the Company does not hold regulatory authorization or actively offer its services.
• Sanctioned Jurisdiction: Any country, territory, or region that is the subject of comprehensive sanctions imposed by the United Nations Security Council, or any other sanctions regime applicable to the Company.
• Sanctioned Person: Any individual or entity that is listed on, or owned or controlled by a person listed on, a sanctions list maintained by the United Nations Security Council, or any other sanctions authority applicable to the Company.
• Underlying Asset: The financial instrument, index, commodity, currency pair, or digital asset on which a CFD is based.
• Vulnerable Client: A Client who, due to personal circumstances, is especially susceptible to detriment, as identified through the Company’s internal assessment procedures outlined in Section 5.

1.2 Words importing the singular shall include the plural and vice versa. Words importing any gender shall include all other genders. Headings are for convenience only and do not affect the interpretation of this Agreement. Any reference to a statute or statutory provision includes a reference to it as amended, extended, or re-enacted from time to time. References to clauses, schedules, and addenda are to the clauses, schedules, and addenda of this Agreement. Any phrase introduced by the terms “including”, “include”, “in particular”, or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms.

1.3 In the event of any conflict between these Terms and Conditions and any incorporated policy or schedule, these Terms and Conditions shall prevail unless explicitly stated otherwise. The Company reserves the right to issue supplementary terms for specific products, services, or trading platforms, which will be deemed incorporated into this Agreement upon acceptance by the Client. If there is a direct conflict between these general Terms and Conditions and any supplementary terms, the supplementary terms shall prevail with respect to the specific product or service to which they apply.

2. Entity Identification and Contracting Parties

2.1 Objective Entity Allocation. The Company allocates clients to contracting entities according to objective legal, regulatory, operational, licensing, residency, client-classification, product-eligibility, and risk-control criteria. The Company does not allocate clients for the purpose of avoiding valid regulatory obligations or mandatory client protections.

2.2 Contracting Entity Disclosure. The specific Bancara entity acting as the Client’s contractual counterparty under this Agreement shall be the entity identified to the Client during the account-opening process and confirmed upon Account approval or before the Client’s first deposit, whichever occurs earlier. The Client’s assigned contracting entity, legal name, registration details, regulatory or licensing status, governing law, complaint route, client-money treatment, and any material limitation on regulatory, ombudsman, compensation-scheme, or investor-protection arrangements shall be disclosed in the Contracting Entity Schedule applicable to the Client. The Contracting Entity Schedule forms part of this Agreement.

2.3 Website Regulatory Information. The Company publishes current entity and regulatory licensing information on its Regulation & Licensing page and/or any successor Legal Entity, Regulatory Status and Client Jurisdiction Matrix. That website disclosure is maintained for transparency and public reference. The live website disclosure shall not, by itself, retrospectively change the Client’s assigned contracting entity, governing law, complaint route, client-money treatment, or applicable regulatory protections for an existing Account unless the Company provides the notice, acknowledgement, consent, or other process required under this Agreement and Applicable Law.

2.4 Client-Specific Contracting Entity Confirmation. The Company shall maintain a record of the contracting entity shown to and accepted by the Client during onboarding, including the applicable Terms version, schedule version, entity disclosure version, timestamp, jurisdiction declaration, and acceptance record. The version of the Contracting Entity Schedule accepted by the Client shall be retained as part of the Client file.

2.5 Entity Separation. Each Bancara entity is a separate legal person with its own legal status, regulatory permissions, financial standing, client-money arrangements, complaint process, and applicable laws. Unless expressly required by Applicable Law or expressly agreed in writing by the relevant entity, no Bancara entity assumes responsibility for the obligations, liabilities, acts, or omissions of any other Bancara entity.

2.6 Entity Allocation Criteria and Non-Circumvention. The Company allocates clients to contracting entities according to objective legal, regulatory, operational, licensing, residency, client-classification, product-eligibility, and risk-control criteria. The Company does not allocate clients for the purpose of avoiding valid regulatory obligations or mandatory client protections.

2.7 Entity Transfers and Material Changes. The Company may transfer an Account to another Bancara entity only in accordance with this Agreement and Applicable Law. Where a transfer would result in a change to the Client’s contracting entity, governing law, regulatory protections, client-money treatment, complaint route, or material rights, the Company shall provide advance written notice and updated entity disclosure. No transfer shall result in a material reduction of mandatory regulatory protections without the Client’s express consent, except where required by Applicable Law, regulatory instruction, sanctions obligations, court order, or other legally binding requirement.

2.8 Preservation of Mandatory Rights. Nothing in this Section 2, the Contracting Entity Schedule, or any website regulatory disclosure excludes, restricts, or modifies any mandatory legal, regulatory, consumer, insolvency, complaint, ombudsman, compensation-scheme, or public-law right that cannot lawfully be excluded, restricted, or modified.

3. Jurisdictional Scope and Service Provision

3.1. The Company operates internationally and provides its services strictly in accordance with the regulatory permissions of its respective contracting entities. The Company maintains operational controls, including geo-detection, IP logging, and client declarations, to ensure its services are provided appropriately. The Company’s website, marketing materials, and communications are not intended for use by any person in any jurisdiction where such use would be contrary to local law or regulation.

3.2. Service Provision and Client Declarations: The Company may rely upon client declarations regarding the circumstances in which the Client approached the Company. The Company reserves the right to reject any application where it cannot satisfy itself that the provision of services would be lawful.

3.3. You acknowledge and agree that the protections and dispute resolution mechanisms applicable to your Account are determined by the contracting entity’s jurisdiction. The Company provides transparent disclosure of these mechanisms prior to Account funding.

3.4. The Company makes no representation that the services or the Platform are appropriate or available for use in any specific jurisdiction. The Client is responsible for ensuring that their use of the Company’s services complies with any laws applicable to them.

3.5. Operational Controls: The Company may implement the following controls where applicable to the Client’s jurisdiction, entity, and onboarding pathway: entity selector, jurisdiction detection, pre-payment entity-status notification, deposit declaration, complaint links, and reconciliation with website disclosures. Where implemented, such controls shall be logged and retained as part of the Client’s audit trail. The absence of any specific control does not create a presumption of non-compliance where alternative controls achieve the same objective.

4. Client Acknowledgements, Informed Consent, and Client Money Disclosure

4.1. By submitting an application to open an Account and by continuing to use the services, you acknowledge, represent, warrant, and agree that: – You have read, fully understood, and accepted all terms of this Agreement. – Trading CFDs and leveraged derivatives carries a significantly high level of risk and may not be appropriate for all investors. You understand the mechanics of leverage and margin trading. – You may lose some or all of your deposited funds, and in certain circumstances (subject to Section 13), you may incur losses exceeding your initial deposit. – You are acting as principal on your own behalf and not as an agent, trustee, or representative of any third party, unless explicitly agreed in writing by the Company. – All information provided during the account opening process is accurate, complete, and up-to-date. You will notify the Company immediately of any changes to your personal or financial information. – You have the legal capacity and authority to enter into this Agreement and to perform your obligations hereunder.

4.2. You explicitly consent to the Company executing Orders outside a regulated market or multilateral trading facility. You understand that the Company acts as the sole execution venue for your Orders and that you are trading directly with the Company as your counterparty.

4.3 Client Funds Safeguarding Disclosure and Acknowledgement: As a mandatory component of the onboarding process and prior to the acceptance of any initial deposit, the Client shall be provided with a disclosure identifying the Client’s contracting entity and the principal treatment of client funds applicable to that entity. The Client acknowledges and agrees that:

1. client funds are held separately from the Company’s own operational funds and are not available for use by the Company for salaries, vendor payments, marketing expenditure, bonuses, corporate operating expenses, proprietary trading, liquidity management, or any other corporate purpose;
2. client balances are recorded and reflected in the Client’s personal client area and/or trading account, and the Client may view the Client’s account balance, available free balance, margin used, open-position exposure, and withdrawal availability through the Platform;
3. where supported by the relevant banking, payment, or safeguarding provider, client deposits may be allocated through a client-specific virtual IBAN, virtual account, named account reference, wallet/account identifier, or equivalent ledger allocation designed to identify the Client’s funds separately from the Company’s funds;
4. funds forming part of the Client’s available free balance may be requested for withdrawal through the Platform, subject only to applicable AML/CFT, sanctions, fraud-prevention, source-of-funds, chargeback, payment-provider, technical, legal, regulatory, or open-position/margin controls;
5. funds committed to open positions, margin requirements, fees, settlement obligations, chargebacks, investigations, or legal holds may not be available for immediate withdrawal until the relevant position, requirement, investigation, or obligation has been closed, released, resolved, or settled;
6. the Company restricts fund-movement permissions and access to payment operations to authorized personnel operating under documented internal controls, while balance visibility through CRM, reporting, or trading systems does not itself create authority to move client funds; and
7. the precise legal treatment of client funds, including segregation, safeguarding, insolvency treatment, compensation scheme status, and complaint route, may vary depending on the Client’s contracting entity, the relevant financial institution, and Applicable Law, as disclosed in the Contracting Entity Schedule, the Client Funds Safeguarding and Availability Matrix, and/or the applicable client-funds policy in force at the time of onboarding.

4.4 Pre-Deposit Client-Funds Disclosure: Prior to acceptance of any initial deposit, the Client shall be presented with a dedicated disclosure screen or equivalent onboarding disclosure containing: (i) the contracting entity name and registration details; (ii) regulatory or licensing status; (iii) confirmation that client funds are maintained separately from Company operational funds; (iv) the manner in which client balances are identified, which may include a virtual IBAN, virtual account, named payment reference, wallet/account identifier, or equivalent ledger allocation where supported; (v) the types of regulated financial institutions through which client funds may be held or processed, including banks, credit institutions, payment institutions, electronic money institutions, safeguarding institutions, or other approved financial institutions; (vi) the withdrawal route for available free balance; (vii) limitations on withdrawal of funds committed to margin, open positions, fees, settlement obligations, investigations, chargebacks, or legal holds; (viii) any compensation scheme, ombudsman, or external complaint route applicable to the contracting entity, where applicable; and (ix) the relevant complaint route and escalation path. The Client must actively acknowledge receipt of this disclosure before any payment is accepted, and the disclosure shall be retained as part of the Client file.

4.5. Onboarding Evidence Record: The Company shall retain a record of the onboarding process for each Client, which may include: (i) timestamp of acceptance; (ii) IP address; (iii) device identifier; (iv) jurisdiction declaration; (v) contracting entity shown; (vi) licence/ regulatory disclosure shown; (vii) client-money disclosure shown; (viii) risk warning shown; (ix) deposit declaration; (x) Terms and Conditions version accepted; and (xi) acceptance event confirmation. This record forms part of the Client file and may be relied upon in any subsequent dispute.

4.6. Payment Verification: The Client is responsible for verifying payment instructions prior to initiating any transfer. Payment protections, reimbursement rights, and dispute mechanisms may vary depending on the payment method, jurisdiction, financial institution, and applicable law.

4.7. Trading Independence: The Client acknowledges that all trading decisions are made independently by the Client. The Company does not approve, supervise, validate, endorse, monitor, assess, or evaluate the suitability of individual trading decisions. The Client confirms that the decision to open an Account, deposit funds, trade, maintain positions, increase trading activity, decline withdrawals, continue trading following losses, or otherwise use the Company’s services was made independently by the Client. The Client acknowledges that no representation, statement, communication, opinion, market commentary, educational content, social media content, affiliate communication, or third-party communication constituted the sole basis for any such decision.

5. Account Opening, Client Classification, and Vulnerability Assessment

5.1. To open an Account, you must complete the online application process, provide all requested information, and pass the Company’s verification procedures, including Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.

5.2. The Company will evaluate all Account applications acting reasonably and in accordance with applicable legal and regulatory obligations. The Company may request additional documentation or impose specific conditions on the approval of an Account to ensure compliance.

5.3. Professional Client Classification: The Company may classify a Client as Professional where the Client satisfies at least two of the following objective criteria, supported by documentary evidence:

1. The Client has carried out transactions of significant size in the relevant market at an average frequency of at least 10 per quarter over the preceding four quarters
2. The Client holds a financial instrument portfolio (including cash deposits) exceeding USD 500,000 or equivalent
3. The Client works or has worked in the financial sector for at least one year in a professional position requiring knowledge of the relevant transactions or services.

Classification requires: documented assessment, written opt-up warning detailing protections foregone, 14-day cooling-off period, signed acknowledgement, and annual reassessment. No sales, retention, or account management personnel may initiate, suggest, or pressure Professional Client classification.

5.4. Classification Disclaimer: The criteria set out in Section 5.3 are used as contractual classification controls for the purposes of this Agreement. They do not imply the application of any specific regulatory professional-client regime unless expressly applicable under the laws governing the relevant Contracting Entity.

5.5. Vulnerability Assessment: The Company recognizes that certain clients may be vulnerable due to personal circumstances. The Company implements procedures to identify Vulnerable Clients through concrete triggers, which include, but are not limited to: – Age indicators. – Repeated failed appropriateness assessments. – Unusual or erratic deposit escalation patterns. – Distress indicators identified in communications with customer support. – Indicators of undue third-party influence. – Inconsistent source of funds declarations. – Pressure to reverse approved withdrawals. – Self-exclusion requests or indications of problem gambling behavior. Upon identifying a potential vulnerability, the Company may adjust the services provided, impose trading limits, require additional appropriateness assessments, or restrict Account access to ensure the Client is not exposed to undue detriment. The identification of any vulnerability indicator does not create a duty to prevent trading, duty to guarantee outcomes, responsibility for the Client’s trading decisions, or any enhanced duty of care beyond that imposed by applicable law. The Client agrees to provide accurate information regarding their circumstances and to notify the Company if their situation changes materially. The identification of one or more vulnerability indicators does not necessarily indicate incapacity, inability to make decisions, inability to understand risk, inability to trade, or inability to provide valid instructions.

Where a vulnerability indicator is identified, the Company shall: (i) conduct a documented review; (ii) record the outcome (which may include: no further action required, account limits applied, trading paused, enhanced due diligence initiated, or withdrawal-protection review); (iii) escalate to compliance where the indicator suggests potential harm; and (iv) retain the review record as part of the Client file. The Company’s obligation is to maintain reasonable systems and controls for identifying and responding to vulnerability indicators, not to guarantee the detection of every instance of client vulnerability.

5.6. Appropriateness and Suitability: The Company provides an execution-only service. However, during the account opening process, the Company conducts an appropriateness assessment to evaluate whether the Client has sufficient knowledge and experience to understand the risks involved in trading CFDs and leveraged products. This assessment is a regulatory requirement and is not a recommendation or endorsement of trading. If the assessment indicates that the product may not be appropriate for the Client, the Company will issue a clear warning. The Client may still proceed with opening the Account after receiving this warning, but does so entirely at their own risk. The Company does not provide suitability assessments or personal recommendations.

6. Trading Terms and Conditions

6.1. Execution-Only Service: The Company provides an execution-only service. We do not provide investment advice, portfolio management, or recommendations regarding any specific Order, trading strategy, or market. Any information, market commentary, or educational materials provided by the Company are for informational purposes only and do not constitute financial advice.

6.2. Operational Consistency: The execution-only nature of the service shall not be altered by any isolated communication, operational error, unauthorised statement, employee conduct, affiliate conduct, support interaction, marketing communication, or third-party communication inconsistent with Company policy unless expressly authorised in writing by the Company. This clause does not exclude liability where the Company authorised, knew of, or failed to remediate a repeated pattern of misleading communications after becoming aware of such pattern through its monitoring or complaint-handling processes.

6.3. Platform Access and Security: All trading is conducted on the Platform. The Client is solely responsible for maintaining the confidentiality and security of their login credentials. The Company shall not be liable for any unauthorized access to the Account resulting from the Client’s failure to secure their credentials. The Client must notify the Company immediately if they suspect any unauthorized use of their Account.

6.4. Market Abuse and Prohibited Trading: The Client agrees not to engage in any form of market abuse, manipulation, or prohibited trading strategies, including but not limited to: – Insider trading. – Market manipulation or spoofing. – Latency arbitrage, price manipulation, or exploiting pricing errors. – Coordinated trading with other clients to exploit the Platform. – Use of unauthorized automated trading systems, expert advisors, or bots that disrupt the Platform’s operation.

6.5. The Company may, acting reasonably and in accordance with applicable legal and regulatory obligations, impose trading limits, restrict access to certain instruments, adjust margin requirements, or suspend trading during periods of extreme market volatility, low liquidity, or force majeure events. The Company makes no guarantees regarding the continuous availability of the Platform or specific trading instruments.

6.6. Self-Directed Trading: All Orders are entered solely at the Client’s initiative, discretion, and direction. The Company does not initiate trades on behalf of Clients. The relationship between the Company and the Client is strictly contractual. Nothing in this Agreement creates any fiduciary, trustee, advisory, discretionary management, partnership, agency, joint venture, or similar relationship.

7. Orders and Execution

7.1. Order Placement: The Client may place Orders via the Platform during the specified trading hours for each Underlying Asset. The Company will use reasonable efforts to execute Orders promptly upon receipt. The Client acknowledges that market conditions, particularly during opening and closing hours, can affect the speed and pricing of execution. The Company’s Order Execution Policy, available on the website, provides detailed information on the factors considered when executing Orders, including price, costs, speed, likelihood of execution, and size. The Client is encouraged to review this policy thoroughly to understand the mechanics of trade execution and the potential impact of market dynamics.

7.2. Execution and Slippage: The Company does not guarantee execution at the exact requested price. Due to market volatility, liquidity constraints, and execution latency, the executed price may differ from the requested price (slippage). Slippage can be positive or negative. The Client accepts the risk of slippage as an inherent aspect of trading. In fast- moving markets, such as during major economic announcements or geopolitical events, the discrepancy between the requested price and the execution price can be significant. The Company employs sophisticated routing technology to minimize slippage, but it cannot be entirely eliminated. The Client should utilize appropriate risk management tools, such as stop-loss orders, while understanding that these tools are also subject to market gapping and do not guarantee a specific exit price.

7.3. Order Rejection and Cancellation: The Company may, acting reasonably, reject, cancel, or amend any Order, or void any executed trade, if: – The Order violates this Agreement or any Applicable Law. – The Order involves suspected market abuse or prohibited trading. – The Order results from a manifest error, pricing anomaly, or technical failure on the Platform. – The Client has insufficient Margin to support the Order. – The underlying market is suspended or experiencing severe disruptions.

7.4. Corporate Actions: If an Underlying Asset is subject to a corporate action (e.g., stock split, dividend, merger), the Company may, acting reasonably and in accordance with standard market practice, adjust the Client’s open positions, account balance, or margin requirements to reflect the economic impact of the corporate action. The Company will endeavor to notify the Client prior to making such adjustments where practicable.

8. Leverage and Margin

8.1. Margin Requirements: The Client must maintain sufficient Margin in their Account at all times to keep positions open. The required Margin is calculated based on the leverage applied to the specific instrument and the current market value of the position. The Company publishes its margin requirements on the Platform. It is the Client’s responsibility to monitor their Account balance and ensure that adequate Margin is maintained. The Company is not obligated to notify the Client when Margin levels are approaching critical thresholds, although it may do so as a courtesy. Failure to maintain sufficient Margin will result in the automatic closure of open positions. The Client should maintain a buffer above the minimum Margin requirement to absorb minor market fluctuations.

8.2. Margin Calls and Stop Out: If the Account equity falls below the required Margin level, the Company may, but is not obligated to, issue a Margin Call, requesting the Client to deposit additional funds or close positions. If the Account equity falls to or below the Stop Out level specified on the Platform, the Company will automatically close out open positions, starting with the most unprofitable, until the Account equity returns to an acceptable level.

8.3. No Guarantee against Losses: The Client acknowledges that Margin Calls and Stop Outs are risk management tools used by the Company to protect its own financial integrity and do not guarantee that the Client will not incur losses exceeding their deposited funds (unless Negative Balance Protection applies). The Client remains responsible for monitoring their Account and managing their risk. In extreme market conditions, a Stop Out may be executed at a price significantly worse than the threshold level, leading to a negative Account balance. The Client must understand the mechanics of leverage and the potential for rapid, substantial losses before engaging in trading activities. Proper risk management and position sizing are essential components of a prudent trading strategy.

8.4. Leverage Adjustments: The Company may adjust leverage limits at any time, for any instrument, or for any specific Client, based on market conditions, regulatory requirements, or the Company’s assessment of the Client’s risk profile, acting reasonably and in accordance with applicable legal and regulatory obligations. The Company will endeavor to provide notice of such changes, but may implement changes immediately in volatile markets.

9. Fees, Charges, and Costs

9.1. Client Obligations: The Client agrees to pay all applicable fees, charges, and costs associated with their Account and trading activities. These may include, but are not limited to, spreads, commissions, overnight financing charges (swaps), currency conversion fees, inactivity fees, and withdrawal processing fees. The Client acknowledges that trading costs can significantly impact overall profitability. The Company strives to provide transparent and competitive pricing, but costs will vary depending on the specific instruments traded, the volume of trading, and prevailing market conditions. The Client should carefully review the fee schedule and factor these costs into their trading strategy and risk calculations.

9.2. Fee Schedule: The current fee schedule is published on the Platform and the Company’s website. The Company may amend the fee schedule from time to time. Material changes will be communicated to the Client with reasonable notice, typically fourteen (14) days, unless market conditions necessitate immediate adjustments. Continued use of the Account following any changes constitutes acceptance of the new fee schedule.

9.3. Deductions: The Company is authorized to deduct any applicable fees, charges, or costs directly from the Client’s Account balance. If the Account balance is insufficient to cover these deductions, the Client remains liable for the outstanding amount, and the Company may pursue recovery through appropriate legal channels.

9.4. Currency Conversion: If the Client deposits funds, withdraws funds, or executes trades in a currency other than the Base Currency of their Account, the Company will apply a currency conversion rate. This rate will include a markup over the interbank exchange rate, as detailed in the fee schedule. The Client bears all risks associated with currency exchange rate fluctuations.

10. Deposits and Funding

10.1. Accepted Methods: The Client may fund their Account using payment methods accepted by the Company, which may include SWIFT international wire transfers, credit/debit cards, electronic wallets, and supported cryptocurrencies. The Company may add, remove, or modify accepted payment methods at any time, acting reasonably.

10.2. First-Party Funding Only: All deposits must originate from a bank account, card, or wallet registered in the identical name of the Client. Third-party deposits are strictly prohibited. The Company will reject any funds received from a third party and return them to the source, minus any applicable banking or processing fees. The Company is not liable for any delays or losses resulting from rejected third-party deposits.

10.3. Payment Accuracy: The Client shall use reasonable care to ensure payments are directed to the correct account as specified in the Company’s payment instructions. Where funds are misdirected within the Bancara corporate group, the Company shall take reasonable steps to identify and redirect such funds without charge to the Client. Where funds are misdirected to an unrelated third party, the Company shall provide reasonable assistance in recovery efforts but cannot guarantee recovery.

10.4. Payment Finality: Once credited, funds are available for trading and become subject to this Agreement, without prejudice to any legal, regulatory, banking, sanctions, fraud, recall, chargeback, court order, payment investigation, or compliance process affecting the transaction.

10.5. Operational Banking Risk and Compliance Cooperation: The Company relies on third- party banking partners, Electronic Money Institutions (EMIs), and payment processors to facilitate transactions. The Client acknowledges that these partners operate under their own strict Anti-Money Laundering (AML) and compliance frameworks. The Company will fully cooperate with its banking partners in any investigation regarding the source of funds. The Client agrees to provide any additional documentation requested by the Company or its banking partners to verify a transaction. Failure to comply may result in delayed deposits, frozen funds, or Account closure.

10.6. Banking and Payment Channel Availability: The availability of particular payment methods, banking channels, Electronic Money Institutions, correspondent relationships, or payment processors may change without notice due to regulatory, operational, commercial, risk-management, or third-party decisions outside the Company’s control. The Company shall use reasonable efforts to maintain alternative payment channels and to notify affected Clients of material changes.

11. Withdrawals

11.1 Withdrawal Requests and Available Free Balance: The Client may request a withdrawal of available free balance from the Account at any time through the Platform. For this purpose, “available free balance” means funds standing to the credit of the Account that are not required for open positions, margin requirements, fees, settlement obligations, chargebacks, investigations, payment-provider restrictions, legal holds, or other obligations under this Agreement. Funds committed to open trades or margin are not available for withdrawal until the relevant position has been closed or the relevant margin requirement has been released. All withdrawal requests are subject to the Company’s internal review and approval processes to ensure compliance with AML regulations.

11.2. Return to Source: To comply with AML regulations, withdrawals will generally be processed back to the original funding source used by the Client. If the Client used multiple funding sources, the Company may require withdrawals to be distributed proportionally among those sources. If a return to the original source is not possible (e.g., a closed bank account), the Company may require extensive alternative verification before processing the withdrawal to a different account in the Client’s name.

11.3. Fairness and Verification: The Company is committed to fair withdrawal terms and does not impose asymmetric friction on the withdrawal process. However, the Company must comply with legal and regulatory obligations. Withdrawals may be delayed if the Client has not completed all required verification procedures, if there is suspected fraudulent activity, or if the withdrawal request triggers AML alerts. The verification required for withdrawals will be proportionate to the risk profile of the transaction.

11.4. Processing Timelines: The Company aims to process approved withdrawal requests promptly. Standard processing timelines are typically one to five (1-5) business days, depending on the withdrawal method. The Company is not liable for any delays caused by third-party payment processors, intermediary banks, or the Client’s own financial institution.

11.5. Payment Investigations and Chargeback Cooperation: The Company will cooperate with legitimate payment investigations initiated by the Client’s financial institution. The Company reserves the right to request supporting documentation for any disputed transactions. In the event of a chargeback or recall request, the Company will present relevant evidence, including trading history, IP logs, and communications, to assist the financial institution in its review. The Company encourages clients to utilize the internal dispute resolution procedure prior to initiating external payment disputes. Nothing in this clause restricts any right a Client may have to contact their payment provider, financial institution, regulator, law enforcement authority, or competent authority.

11.6. Anti-Friction Covenant: The Company shall not delay, reject, or condition withdrawals for commercial retention reasons, trading-volume reasons, bonus reasons, or to encourage continued trading. Verification requirements applied to withdrawals shall be proportionate, documented, and applied consistently across all clients.

12. Dormant Accounts

12.1. Definition of Dormancy: An Account shall be deemed dormant if there has been no trading activity (specifically, the opening or closing of a position) or financial activity (approved deposits or withdrawals) for a consecutive period of ninety (90) days. Logging into the Platform does not constitute activity for the purpose of this section.

12.2. Dormancy Fees: The Company may charge a proportionate monthly dormancy fee on all dormant Accounts. The Client will be provided with at least thirty (30) days’ written notice before the first dormancy fee is applied. The current dormancy fee amount is detailed in the fee schedule.

12.3. Fee Application: Dormancy fees will only be deducted from the available cash balance in the Account. Under no circumstances shall dormancy fees exceed the available cash balance remaining in the Account. The Account balance will not be driven into a negative state solely due to the application of dormancy fees. If the Account balance reaches zero, no further dormancy fees will be charged, but the Company may close the Account in accordance with Section 29.

13. Negative Balance Protection

13.1. Explicit Position: The Company explicitly offers Negative Balance Protection to all Retail Clients, subject to the conditions outlined in this section. This protection ensures that a Retail Client’s maximum loss is limited to the total funds deposited in their Account. Negative Balance Protection is provided as a contractual commercial feature of the Company’s product offering and does not derive from, imply, or create any particular regulatory classification, compensation entitlement, investor protection regime, or statutory right.

13.2. Mechanism: In the event that extreme market volatility, gapping, or slippage causes a Retail Client’s Account balance to fall below zero, the Company will absorb the negative balance and reset the Account balance to zero. The Company aims to process this reset promptly, typically within one (1) business day.

13.3. Exclusions: Negative Balance Protection does not apply in the following circumstances: – The Client is classified as a Professional Client. – The negative balance is the result of the Client’s breach of this Agreement, including engagement in market abuse, fraud, or prohibited trading strategies. – The negative balance arises from fees, charges, or currency conversion costs rather than trading losses. – The negative balance is incurred across multiple accounts held by the same Client, in which case the Company may set off balances between accounts.

13.4. Contractual Benefit: Negative Balance Protection is provided solely as a contractual benefit. The provision of such protection does not alter the Client’s classification, regulatory status, jurisdiction, applicable law, entitlement to compensation schemes, or any other legal or regulatory rights. The provision of Negative Balance Protection shall not be interpreted as creating or implying the application of any regulatory regime, investor compensation scheme, ombudsman service, safeguarding framework, statutory protection, or regulatory classification not otherwise applicable to the Client.

13.5. Classification Determination: For the purposes of this Section, eligibility for Negative Balance Protection shall be determined by the Client classification applicable at the time the relevant loss arose.

14. Risk Acknowledgements

14.1. High-Risk Investment: The Client acknowledges and accepts that trading CFDs, forex, and other leveraged derivative products is highly speculative and involves a substantial risk of loss. These products are complex financial instruments and may not be appropriate for all investors. The Client should carefully consider their financial situation, investment objectives, level of experience, and risk tolerance before deciding to trade. The Client should not invest funds that they cannot afford to lose entirely. The Company strongly recommends that the Client seeks independent financial advice if they are unsure whether these products are appropriate for their specific circumstances.

14.2. Leverage Risk: The use of leverage can significantly amplify both profits and losses. A relatively small market movement can have a disproportionately large impact on the Client’s Account balance, both favorably and unfavorably. The Client understands that they may lose their entire investment rapidly if the market moves against their position. Leverage acts as a double-edged sword, and its use requires a deep understanding of market dynamics and strict risk management discipline. The Client should only utilize leverage levels that align with their risk tolerance and trading experience.

14.3. Market Volatility: Financial markets are subject to rapid and unpredictable price movements. Factors such as economic data releases, central bank decisions, geopolitical events, and shifts in market sentiment can cause significant volatility, gapping, and slippage. These phenomena may adversely affect the execution price of Orders and the value of open positions. The Client must be prepared for the possibility of sudden market shocks and the resulting impact on their Account. The Company’s Platform is designed to handle high volumes of data, but extreme volatility can still result in execution delays or pricing anomalies.

14.4. No Guarantees: The Client accepts full responsibility for their trading decisions. The Company provides no guarantees regarding the performance of any specific trade, strategy, or the overall Account. Past performance of any financial instrument or trading strategy is not a reliable indicator of future results.

15. Third-Party Representations and Affiliate Firewall

15.1. No Liability for Third Parties: The Company is strictly not liable for any representations, promises, guarantees, or statements made by third parties, including but not limited to affiliates, Introducing Brokers (IBs), independent educators, signal providers, or external marketing agencies. The Company does not endorse, verify, or warrant the accuracy of any claims made by these independent entities. The Client must conduct their own due diligence before engaging with or relying on the services of any third party.

15.2. Independent Status: Affiliates and IBs are independent contractors and are not employees, agents, or representatives of the Company. They do not have the authority to bind the Company, make any commitments on its behalf, or offer investment advice in the Company’s name. The Client’s relationship with any third party is entirely separate from their relationship with the Company under this Agreement. The Company’s role is the execution of Orders and the provision of the Platform, regardless of how the Client was introduced to the Company.

15.3. General Commentary Only: Any opinions, news, research, analyses, prices, trading signals, or other information provided by third parties, even if accessed through the Company’s website or Platform, are provided strictly as general market commentary. Such information does not constitute investment advice, a recommendation to trade, or an endorsement by the Company. The Company makes no representations regarding the accuracy, completeness, or timeliness of third-party information. The Client relies on such information entirely at their own risk and must exercise independent judgment before making any trading decisions based on it.

15.4. Strict Affiliate Firewall: No affiliate, introducing broker, educator, signal provider, social-media promoter, recovery company, introducing agent, or third-party marketer may amend these Terms, make binding representations on behalf of the Company, or create any obligation, liability, or commitment binding upon the Company. Any representation made by such third parties that contradicts these Terms is unauthorised and without legal effect. The Client acknowledges that any statement made by an affiliate, introducing broker, educator, social media personality, marketer, or third party that is inconsistent with these Terms shall not be relied upon and shall not amend this Agreement.

15.5. Non-Advisory Personnel: No employee, affiliate, introducing broker, marketer, educator, retention representative, account manager, support representative, or other intermediary is authorised to provide investment advice, portfolio management, or discretionary trading services on behalf of the Company.

16. No Unauthorized Third-Party Representations

16.1 Third-Party Representations. The Client acknowledges that only the Company’s official written terms, disclosures, platform records, and authorized communications form part of the Client relationship. No affiliate, introducer, salesperson, relationship manager, third-party marketer, social-media promoter, informal caller, or other person is authorized to amend these Terms, guarantee returns, promise profits, provide investment advice, waive risk disclosures, or make representations on behalf of the Company unless expressly confirmed in writing by an authorized officer of the Company. Unauthorized personal solicitation, informal calls, unofficial marketing statements, or third-party promises shall not form part of the Client’s contractual relationship with the Company.

17. Third-Party Claims and Complaints

17.1. Third-Party Claims: The Company will assess all complaints, disputes, and claims based on available evidence regardless of whether such matters are submitted directly by the Client or through an authorised representative.

17.2. Complaint Assessment: The Company assesses all complaints and disputes according to the available evidence and circumstances of the individual case. The method by which a complaint is submitted, or the involvement of any third party in its preparation, does not affect the standard of review applied.

17.3. Independent Transaction Assessment: Each transaction, complaint, or dispute is assessed independently. Allegations concerning unrelated transactions, entities, domains, or communication channels do not, without evidence connecting them to the specific matter, constitute evidence regarding the validity of any payment, transaction, or complaint.

17.4. Investigation Trigger: The Company will treat warning-list entries, regulatory alerts, media publications, and similar material as a trigger for further investigation where it may reasonably relate to the Client, transaction, or communication channel involved.

18. Identity Protection and Brand Integrity

18.1. Brand Integrity: The Company actively monitors the market to protect its brand integrity and the security of its clients. The Company takes the misuse of its brand, identity cloning, and unauthorized impersonation seriously.

18.2. Review of Alerts: The Company treats any inclusion of its brand names or domains on public alerts or notices seriously. The Company investigates such instances to identify potential clone misuse or misuse of the Company’s name, domains, trademarks, brands, corporate information, or identity. The Company may restrict access to its services in specific regions pending such reviews to ensure orderly operations.

18.3. Client Vigilance: The Company is not liable for any losses incurred by the Client resulting from interactions with fraudulent “clone” firms or unauthorized entities attempting to impersonate the Company. The Client must exercise vigilance and ensure they are accessing the official Bancara website and Platform.

18.4. Evidential Standard for Clone-Firm and Impersonation Events: The existence of a warning list entry, clone-firm notice, impersonation event, regulatory publication, media report, or third-party allegation shall not by itself establish responsibility for any specific transaction absent evidence connecting the transaction to the relevant conduct. Where the Company becomes aware of a clone-firm or impersonation event, it shall investigate and cooperate with relevant authorities, but responsibility for any individual transaction shall be determined on the basis of evidence specific to that transaction.

19. Intellectual Property

19.1. Ownership: All intellectual property rights in the Platform, the Company’s website, marketing materials, logos, trademarks, and any other materials provided by the Company (collectively, “Company IP”) remain the exclusive property of the Company or its licensors.

19.2. Limited License: Subject to the Client’s compliance with this Agreement, the Company grants the Client a personal, limited, non-exclusive, non-transferable, and revocable license to access and use the Platform solely for the purpose of trading and managing their Account.

19.3. Restrictions: The Client shall not, under any circumstances: – Copy, modify, reproduce, translate, or create derivative works from the Company IP. – Reverse engineer, decompile, disassemble, or attempt to discover the source code of the Platform. – Distribute, sell, lease, rent, or sublicense the Company IP to any third party. – Remove, alter, or obscure any copyright, trademark, or other proprietary notices contained within the Company IP. – Use the Company IP in any manner that infringes the rights of the Company or any third party, or that violates any Applicable Law.

20. Data Protection and Privacy

20.1. Data Processing: The Company processes the Client’s personal data in accordance with applicable data protection laws and its comprehensive Privacy Policy, which is incorporated by reference into this Agreement and available on the Company’s website. The Privacy Policy details the types of data collected, the purposes of processing, and the Client’s rights regarding their data.

20.2. Consent to Transfer: By opening an Account, the Client explicitly consents to the collection, use, storage, and cross-border transfer of their personal data to the Company’s affiliates, service providers, and regulatory authorities, as necessary to provide the services, comply with legal obligations, and for legitimate business purposes.

20.3. Security Measures: The Company implements appropriate technical and organizational security measures to protect the Client’s personal data against unauthorized access, accidental loss, destruction, or alteration. However, the Client acknowledges that no system is entirely secure, and the Company cannot guarantee absolute data security.

21. Anti-Money Laundering Cooperation

21.1. Commitment to AML/CTF: The Company is firmly committed to preventing money laundering, terrorist financing, and other financial crimes. The Company strictly adheres to the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations of the contracting entity’s jurisdiction. The Company implements comprehensive policies, procedures, and internal controls designed to detect and deter illicit activities. This commitment extends to all aspects of the Company’s operations, including client onboarding, ongoing monitoring, and transaction screening. The Company regularly reviews and updates its AML/CTF framework to ensure alignment with evolving regulatory standards and industry best practices.

21.2. Client Cooperation: The Client agrees to fully and promptly cooperate with the Company’s AML/CTF procedures. This includes providing all requested identification documents (e.g., valid passport, national identity card), recent proof of residential address (e.g., utility bill, bank statement dated within the last three months), and detailed information regarding the source of funds and source of wealth. The Client must ensure that all documents provided are clear, legible, and authentic. The Company may require documents to be certified or notarized in certain circumstances. The Client’s failure to provide satisfactory documentation may result in delays or the rejection of their Account application.

21.3. Ongoing Monitoring: The Company conducts ongoing, risk-based monitoring of Client Accounts and transactions to ensure consistency with the Client’s stated profile and to identify any unusual or suspicious activity. The Company may utilize automated screening tools and manual reviews as part of this process. The Company reserves the right to request updated or additional documentation at any time during the business relationship, particularly if there are significant changes in the Client’s trading volume, funding patterns, or personal circumstances. The Client is obligated to keep their profile information current and to respond promptly to any requests for information.

21.4. Consequences of Non-Compliance: Failure to provide requested AML/CTF documentation within the specified timeframe, or the provision of false or misleading information, constitutes a material breach of this Agreement. In such cases, the Company reserves the right to suspend the Account, reject deposits or withdrawals, void open positions, or terminate the Account entirely.

21.5. Reporting Obligations: The Company reserves the right, and may be legally obligated, to report any suspicious transactions or activities to the relevant authorities without prior notification to the Client.

22. Sanctions Compliance

22.1. The Company maintains sanctions screening programmes in accordance with applicable international sanctions regimes. The Client represents and warrants that neither the Client, nor any beneficial owner, director, or controlling person of the Client, is a Sanctioned Person or located in, incorporated in, or operating from a Sanctioned Jurisdiction.

22.2. The Company may freeze, suspend, or restrict access to any Account, funds, or assets where required by applicable sanctions laws, regulations, or guidance, or where the Company has reasonable grounds to believe that continued provision of services may result in a sanctions violation.

22.3. Where funds are frozen or restricted pursuant to this clause, the Company shall not be liable for any loss, damage, cost, or expense arising from such action.

22.4. Actions taken under sanctions obligations may continue after account closure where required by law. The Company may report any suspected sanctions violation to the relevant authorities without prior notice to the Client, where required or permitted by applicable law.

23. Recording and Evidence

23.1. Consent to Recording: The Client explicitly agrees that the Company may record, monitor, and retain all telephone conversations, electronic communications (including emails, chat messages, and SMS), and interactions with the Platform between the Client and the Company or its representatives.

23.2. Purpose of Recording: These recordings are maintained for quality assurance, training, regulatory compliance, and security purposes.

23.3. Evidence Assessment: The Company assesses all evidence according to reliability, independence, completeness, contemporaneous nature, and relevance to the matter under review. Company-generated records shall be assessed for integrity, completeness, timestamp reliability, access controls, and consistency with external records. The Company will not rely on incomplete, selectively retained, or materially inconsistent internal records without explanation. Where internal records are challenged, the Company shall provide reasonable evidence of record integrity.

23.4. Application of Evidence: The Client agrees that the records maintained by the Company constitute prima facie evidence of the communications and transactions between the parties, subject to contrary documentary evidence provided by the Client. Unsubstantiated allegations may be given reduced evidential weight pending the provision of supporting documentation.

23.5. Evidential Weight Hierarchy: For the purposes of dispute resolution and complaint assessment, the following hierarchy of evidential weight shall apply:

1. Highest weight: Court orders; regulatory findings; banking records; payment-provider records; independent third-party records.
2. Medium weight: Internal company records (including system logs, CRM records, and communications records).
3. Lower weight: Uncorroborated allegations; generic internet material; anonymous complaints.

Weight does not predetermine outcome. All evidence shall be assessed according to the specific facts and circumstances of the matter, and evidence of any category may be rebutted or contextualised by other evidence.

23.6. Contemporaneous Evidence: Greater evidential weight may be attributed to records created contemporaneously with the relevant events than to retrospective reconstructions created after a dispute arises. This principle applies equally to records of either party.

23.7. No Inference: The existence of an investigation, complaint, chargeback, recall request, payment dispute, account review, or regulatory inquiry shall not, of itself, create a presumption of wrongdoing by either party.

23.8. Evidence Preservation: The Company may retain records relevant to any actual or anticipated dispute, complaint, payment investigation, chargeback, recall request, regulatory inquiry, or legal proceeding for such period as reasonably necessary to protect legitimate interests and comply with legal obligations. The Company may preserve records after account closure where reasonably required for legal, regulatory, audit, dispute-resolution, fraud- prevention, AML, sanctions, or risk-management purposes, for such period as the Company reasonably determines necessary.

23.9. Retention Period: The Company shall maintain reasonable controls designed to prevent alteration, deletion, manipulation, or selective extraction of records. Where records are reconstructed from backups or archives, such reconstruction shall be identified as such. The Company will retain these records for the period required by Applicable Law or the Company’s internal data retention policies, whichever is longer.

24. Dispute Resolution Architecture

24.1. Initial Contact: Complaint rights survive account closure. Former clients retain the right to submit complaints concerning historical activity. The Company encourages clients to first contact customer support to facilitate prompt resolution. The customer support team is trained to handle a wide range of inquiries and will endeavor to provide a satisfactory resolution without the need for formal escalation. The Client should provide clear and concise details of their concern to facilitate a swift review. Nothing in this clause limits any right the Client may have to submit a formal complaint, contact a regulator, or exercise any other legal or regulatory right at any time.

24.2. Formal Dispute Procedure: If the issue cannot be resolved informally, the Client must submit a formal, written dispute in accordance with the Company’s Dispute Resolution Policy, available on the website. The submission must detail the nature of the dispute, the relevant dates and transactions, the specific clauses of this Agreement that the Client believes have been breached, and the desired resolution. The Client must also provide any supporting documentary evidence they wish to be considered. Vague or unsubstantiated claims may be delayed pending the receipt of further clarification.

24.3. Investigation and Response: The Company’s compliance department will investigate the formal dispute impartially, relying on the evidential framework outlined in Section 23. The investigation process will be thorough and objective, ensuring that all relevant facts and records are carefully reviewed. The Company aims to provide a final written response within the timeframe specified in the Dispute Resolution Policy (typically up to eight weeks, depending on the complexity of the issue). If the investigation requires additional time, the Company will notify the Client and provide an estimated date for the final response.

24.4. Evidence-Based Resolution: All disputes will be resolved strictly based on documented evidence, system logs, and the terms of this Agreement.

24.5. Remedies and Recourse: Available remedies and the specific dispute resolution mechanisms depend on the contracting entity and the Applicable Law. The Client acknowledges that the Company’s internal dispute procedure is the primary mechanism for resolution prior to any external proceedings. The existence of the internal dispute process does not prevent the Client from exercising any non-waivable legal or regulatory rights available under applicable law.

24.6. Complaint Timetable: Upon receipt of a formal complaint, the Company shall: (i) acknowledge receipt within five (5) Business Days; (ii) commence investigation promptly thereafter; (iii) request any additional information or documentation reasonably required; (iv) provide the Client with a substantive response or interim update within thirty (30) Business Days of acknowledgment; (v) issue a final response within sixty (60) Business Days of acknowledgment, or notify the Client of any extension and the reasons therefor.

25. Governance and Change Control

25.1. Internal Review: The Company maintains a robust internal governance framework, including regular reviews of this Agreement, operational policies, and risk management procedures to ensure ongoing compliance with Applicable Law and industry best practices.

25.2. Change Control: Any material changes to the Company’s operations, trading conditions, or the terms of this Agreement are subject to a formal internal change control process, overseen by the Company’s compliance and legal departments.

25.3. Operational Reviews: Operational reviews shall include periodic assessment of consistency between these Terms, onboarding processes, client disclosures, withdrawal procedures, complaint handling procedures, staff training materials, and client-facing communications. The Company shall maintain reasonable procedures to ensure that these Terms, the website, onboarding processes, payment screens, client communications, withdrawal procedures, complaint handling, staff training materials, affiliate controls, and CRM systems operate consistently. Where an inconsistency is identified through internal review, client complaint, regulatory inquiry, or external audit, the Company shall investigate, remediate where appropriate, and log the matter for governance review.

25.4. Annual Review: These Terms shall be reviewed periodically by legal and compliance functions and amended where reasonably necessary to reflect changes in applicable law, regulatory guidance, market practice, and operational requirements. The date of the most recent review is recorded in the document header.

26. Limitation of Liability

26.1. Exclusion of Indirect Damages: To the maximum extent permitted by Applicable Law, the Company, its directors, officers, employees, affiliates, and service providers shall not be liable to the Client or any third party for any indirect, incidental, special, punitive, or consequential damages. This includes, without limitation, loss of actual or anticipated profits, loss of revenue, loss of business, loss of data, loss of goodwill, or any trading losses arising out of or in connection with this Agreement, the use of the Platform, or the inability to use the services.

26.2. The limitation of liability in this Section applies solely to contractual claims and shall not limit liability for fraud, wilful misconduct, gross negligence, safeguarding obligations, client money obligations, or any non-excludable statutory rights.

26.3. Liability Carve-Outs: The limitation of liability set out in Section 25.1 does not apply to: (i) Fraud or wilful misconduct by the Company; (ii) Gross negligence; (iii) Non-excludable statutory rights; (iv) Obligations relating to the safeguarding of client funds; or (v) Death or personal injury caused by negligence.

26.4. Specific Exclusions: The Company shall not be liable for any losses, damages, or claims arising from: – Delays, failures, or errors in the execution of Orders caused by factors outside the Company’s reasonable control, including internet connectivity issues, hardware or software failures, or third-party liquidity provider disruptions. – Actions taken by the Company in accordance with its rights under this Agreement, including Margin Calls, Stop Outs, or Account suspension. – The Client’s reliance on any third-party information, signals, or representations (as detailed in Section 15). – Any unauthorized access to the Client’s Account resulting from the Client’s failure to secure their login credentials. – The tax consequences of the Client’s trading activities.

27. Indemnification

27.1. Client Indemnity: The Client agrees to fully indemnify, defend, and hold harmless the Company, its directors, officers, employees, affiliates, and agents from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or directly related to: – The Client’s breach of any term, representation, or warranty in this Agreement. – The Client’s violation of any Applicable Law or the rights of any third party. – The Client’s use or misuse of the Platform or the services. – Any action taken by the Company to enforce its rights under this Agreement, including the collection of negative balances. – Any false, inaccurate, or misleading information provided by the Client during the account opening process or thereafter.

28. Force Majeure

28.1. Definition: A “Force Majeure Event” refers to any event, circumstance, or cause beyond the reasonable control of the Company that prevents or hinders the Company from performing its obligations under this Agreement. Such events include, but are not limited to: – Acts of God, natural disasters, extreme weather events, earthquakes, or fires. – War, acts of terrorism, civil unrest, riots, or military action. – Pandemics, epidemics, or public health emergencies. – Government actions, regulatory interventions, embargoes, or sanctions. – Suspension, closure, or severe disruption of trading on underlying markets or exchanges. – Severe technological failures, global internet outages, power failures, or cyber-attacks. – Failures or disruptions of third-party liquidity providers, banking partners, or payment processors.

28.2. Relief from Liability: The Company shall not be in breach of this Agreement nor liable for any delay in performing, or failure to perform, any of its obligations if such delay or failure results from a Force Majeure Event.

28.3. Mitigation: In the event of a Force Majeure Event, the Company will use reasonable endeavors to mitigate the impact and resume normal operations as soon as practicable. The Company may take necessary actions to protect the integrity of the Platform and its clients, including closing open positions, altering Margin requirements, widening spreads, or suspending trading entirely.

29. Amendment and Variation

29.1. Right to Amend: The Company may amend, update, or vary the terms of this Agreement from time to time to reflect changes in Applicable Law, regulatory requirements, market conditions, or the Company’s operational procedures.

29.2. Notice of Changes: The Company may amend, modify, or supplement this Agreement from time to time. Where reasonably practicable, the Company will notify Clients of material changes through the Company’s website, Platform notifications, email communications, Client portal notifications, or any other durable medium.

The Company may implement changes immediately, without prior notice, where such changes are required to comply with applicable law, regulatory requirements, regulatory guidance, court orders, sanctions obligations, operational risk controls directly necessitated by identified threats, fraud prevention measures in response to specific incidents, or cybersecurity requirements mandated by applicable standards.

The Client is responsible for regularly reviewing the Company’s website, Platform notifications, and communications for updates to this Agreement. Continued use of the Account or Services following the effective date of any amendment shall constitute acceptance of the amended Agreement.

29.3. Acceptance of Changes: Amendments will not apply retrospectively to Orders executed prior to the effective date of the change. If the Client does not agree to the proposed amendments, they have the right to terminate this Agreement and close their Account without penalty before the changes take effect. Continued use of the Account or the Platform after the effective date of the amendments constitutes the Client’s explicit acceptance of the revised Agreement.

29.4. Regulatory Change Protection: If applicable law, regulatory guidance, regulatory expectation, court decision, ombudsman decision, banking requirement, sanctions requirement, or payment-network rule changes after acceptance of this Agreement, the Company may modify procedures reasonably necessary to maintain compliance. Where such modification materially affects the Client’s rights, the Company shall provide notice and the Client may close the Account without charge during the notice period.

30. Termination and Account Closure

30.1. Termination by the Client: The Client may terminate this Agreement and close their Account at any time by providing written notice to the Company, provided that all open positions have been closed and there are no outstanding obligations or negative balances owed to the Company.

30.2. Termination by the Company (With Notice): The Company may terminate this Agreement and close the Account at any time by providing the Client with at least seven (7) days’ written notice.

30.3. Immediate Termination: Where immediate termination is not legally restricted, the Company shall maintain records explaining the basis for the decision. The Company may suspend or terminate the Client’s account with immediate effect where the Company possesses documented information reasonably indicating: (i) fraud or attempted fraud; (ii) money laundering or terrorist financing concerns; (iii) sanctions exposure; (iv) identity misuse; (v) material regulatory risk; (vi) banking-partner requirements documented in writing; or (vii) legal obligations requiring immediate action. Any such action shall be proportionate to the identified risk and documented in the Company’s records.

30.4. Consequences of Termination: Upon termination, the Company will immediately close all open positions at current market prices. Any remaining available balance, after the deduction of all applicable fees, charges, and legal holds, will be returned to the Client in accordance with the withdrawal procedures outlined in Section 11. The Client’s right to access the Platform will be immediately revoked.

30.5. Appeal Mechanism: The Client may appeal an Account closure decision by contacting the Company’s compliance department in writing within fourteen (14) days of the closure notice, providing any relevant evidence to support their appeal.

30.6. Regulatory and Operational Necessity: The Company may suspend, modify, restrict, or discontinue services where reasonably necessary to respond to legal, regulatory, licensing, sanctions, banking-partner, or risk-management requirements. Where practicable, the Company shall provide reasonable notice and facilitate withdrawal of client funds.

31. Governing Law and Jurisdiction

31.1. Governing Law: This Agreement, and any dispute, controversy, or claim arising out of or in connection with it (including non-contractual disputes or claims), shall be governed by, construed, and interpreted strictly in accordance with the laws of the jurisdiction of the specific Bancara contracting entity (as identified in Section 2), without giving effect to any choice or conflict of law provision or rule.

31.2. Jurisdiction: Contractual disputes shall be governed by the contracting entity’s jurisdiction, without limiting any non-waivable statutory rights the Client may possess. The Client agrees that the courts of the jurisdiction of the contracting entity shall have jurisdiction to settle any dispute or claim arising out of or in connection with this Agreement.

31.3. Regulatory Interpretation: Nothing in this Agreement shall be interpreted as creating, extending, importing, or conferring any regulatory status, compensation scheme entitlement, fiduciary obligation, statutory protection, investor protection framework, ombudsman access right, safeguarding regime, or legal right beyond those expressly applicable to the specific contracting entity under the laws governing that entity.

31.4. Interpretation Safeguard: These Terms shall be interpreted according to their substance and commercial purpose as a whole. No individual clause shall be interpreted in isolation so as to create rights, obligations, regulatory status, or legal consequences inconsistent with the Agreement when read in its entirety.

31.5. Illustrative Examples: Examples, lists, and illustrations contained in this Agreement are illustrative only and do not limit the general application of the relevant provision unless expressly stated otherwise.

32. Severability and Entire Agreement

32.1. Severability: If any provision or part-provision of this Agreement is or becomes invalid, illegal, or unenforceable by any court or competent authority, it shall be deemed modified to the minimum extent necessary to make it valid, legal, and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed severed. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of this Agreement. The parties shall negotiate in good faith to amend such severed provision so that, as amended, it is legal, valid, and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.

32.2. Entire Agreement: This Agreement, together with the Privacy Policy, Dispute Resolution Policy, Order Execution Policy, the Restricted Jurisdictions provisions (Section 41), the Contracting Entity Schedule, and any other schedules or addenda explicitly incorporated by reference, constitutes the entire agreement between the Client and the Company regarding the subject matter herein. This Agreement supersedes all prior drafts, agreements, arrangements, and understandings between the parties, whether written or oral, relating to its subject matter. The Client confirms that no oral representation, social media communication, marketing statement, educational content, affiliate communication, or promotional material forms part of this Agreement.

32.3. Misrepresentation: Nothing in this Agreement excludes liability for fraud, fraudulent misrepresentation, wilful misconduct, gross negligence, or any liability that cannot lawfully be excluded. Subject to the foregoing sentence, the Client acknowledges that in entering into this Agreement, they do not rely on any statement, representation, assurance, or warranty not set out in this Agreement.

32.4. Communication Hierarchy: In the event of conflict between these Terms and any other communication, these Terms shall prevail to the extent permitted by applicable law, provided that this shall not operate to exclude liability for fraudulent, negligent, or materially misleading statements.

33. Operational Reality and Prevailing Conduct

33.1. Operational Reality Prevails: The rights and obligations of the parties shall be determined by the actual operation of the services, contemporaneous records, and this Agreement considered as a whole. No individual marketing communication, website statement, onboarding screen, or promotional material shall independently create contractual rights or obligations inconsistent with the substantive operation of the services and the terms of this Agreement.

33.2. Marketing Consistency Control: Material inconsistencies identified through complaints, audits, regulatory reviews, or internal monitoring shall be subject to documented remediation. Material inconsistencies between these Terms and any marketing material, website content, educational content, webinar, social media communication, affiliate communication, promotional content, or sales communication will be reviewed, corrected, logged, and escalated under the Company’s change-control procedure. Nothing in this clause limits any non-waivable rights arising from misleading communications.

34. No Waiver and Contact Information

34.1. No Waiver: A waiver of any right or remedy under this Agreement or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy. A failure or delay by a party to exercise any right or remedy provided under this Agreement or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under this Agreement or by law shall prevent or restrict the further exercise of that or any other right or remedy.

34.2. Contact Information: For customer support, general inquiries, or to submit formal notices under this Agreement, the Client must contact the Company via the following official channels: – Email: [email protected] – Website: www.bancara.com – Mailing Address: The registered office address of the specific contracting entity, as provided to the Client upon Account approval.

34.3. Official Communications: The Company will communicate with the Client primarily via the email address registered to the Account or through secure messages on the Platform. The Client is solely responsible for keeping their contact information up to date and regularly checking for communications from the Company. A notice sent by the Company to the Client’s registered email address shall be deemed received immediately upon transmission.

35. Detailed Risk Disclosures and Specific Trading Scenarios

35.1. Comprehensive Understanding of Risk: The Client acknowledges that the preceding risk disclosures are not exhaustive. The financial markets are complex and multifaceted, and trading derivative products inherently involves substantial and sometimes unforeseeable risks. The Client must possess a comprehensive understanding of the specific risks associated with each Underlying Asset and trading strategy they employ. The Company provides educational resources, but the ultimate responsibility for risk assessment rests entirely with the Client. The Client should continuously educate themselves on market dynamics, trading strategies, and risk management techniques. The Company strongly encourages the Client to utilize demo accounts to practice trading and familiarize themselves with the Platform’s features before committing real capital. A solid foundation of knowledge and practical experience is crucial for navigating the complexities of the financial markets.

35.2. Gapping and Slippage in Detail: The Client specifically acknowledges the risks of market gapping and slippage. “Gapping” occurs when the price of an Underlying Asset jumps from one level to another without trading at the intervening prices. This often happens over weekends, during market holidays, or immediately following significant news announcements. If a gap occurs, any Stop Loss orders placed by the Client may be executed at the next available market price, which could be significantly worse than the requested price, leading to larger-than-expected losses. “Slippage” refers to the difference between the expected price of a trade and the price at which the trade is actually executed. Slippage can occur during periods of high volatility or low liquidity. The Client accepts that the Company cannot guarantee the execution of Orders at specific prices and that the Client bears the full risk of both gapping and slippage. The Company’s execution systems are designed to minimize these effects, but they are inherent features of financial markets that cannot be entirely eliminated. The Client should factor these risks into their trading strategies and position sizing.

35.3. Cryptocurrency CFD Risks: Trading CFDs on cryptocurrencies carries unique and extreme risks. The cryptocurrency markets are largely unregulated, highly volatile, and susceptible to sudden, massive price swings driven by speculative trading, regulatory news, or technological developments. Furthermore, cryptocurrency CFDs are subject to the risk of “hard forks” or other network events that may fundamentally alter the Underlying Asset. The Company may suspend trading, adjust margin requirements, or close positions on cryptocurrency CFDs without prior notice in response to such events. The Client acknowledges that they do not own the underlying cryptocurrency and have no rights to any digital assets. The valuation of cryptocurrencies can be highly subjective and influenced by factors not present in traditional financial markets. The Client must exercise extreme caution when trading cryptocurrency CFDs and be prepared for the possibility of significant losses, including the total loss of their invested capital. The Company may, acting reasonably, limit the maximum exposure a Client can have to cryptocurrency CFDs to mitigate systemic risk.

35.4. Commodity and Index CFD Risks: Trading CFDs on commodities and indices involves exposure to macroeconomic factors, geopolitical events, supply and demand imbalances, and changes in monetary policy. The Client understands that the pricing of these CFDs is derived from the underlying futures or spot markets, which can be subject to their own specific rules, trading hours, and settlement procedures. The Company may roll over positions on certain expiring contracts, which can result in adjustments to the Client’s Account balance to reflect the price difference between the old and new contracts. The Client is responsible for monitoring contract expirations and understanding the implications of rollovers.

35.5. Systemic and Technological Risks: The Client acknowledges that trading relies heavily on complex technological infrastructure, including internet connectivity, trading platforms, servers, and data feeds. There is an inherent risk of systemic failures, hardware malfunctions, software bugs, cyber-attacks, or denial-of-service attacks that could disrupt the Company’s services or the Client’s ability to access their Account. The Company employs robust security measures and redundancy systems, but cannot guarantee uninterrupted or error-free operation. The Client accepts the risk of losses resulting from technological failures beyond the Company’s reasonable control.

36. Client Representations and Warranties

36.1. Ongoing Representations: The Client makes the following representations and warranties to the Company, which are deemed to be repeated each time the Client places an Order, deposits funds, or otherwise interacts with the Platform:

• The Client is of sound mind, legal age, and has the capacity to enter into this Agreement.
• The Client is not acting under any duress, coercion, or undue influence.
• The Client has considered the risks of trading CFDs and has independently decided to proceed.
• The funds deposited in the Account are the Client’s own legitimate funds, free from any lien, charge, or encumbrance, and are not derived from any illegal activity.
• The Client is not a politically exposed person (PEP), a family member of a PEP, or a close associate of a PEP, unless explicitly disclosed during the onboarding process and formally approved by the Company’s compliance department.
• The Client is not subject to any international sanctions, embargoes, or restrictive measures imposed by any relevant national, supranational, or international authority.
• The Client will use the services solely for lawful purposes and in compliance with this Agreement and all Applicable Laws.

36.2. Notification of Changes: The Client agrees to notify the Company immediately in writing if any of the representations and warranties become inaccurate, incomplete, or misleading. The Company relies on these representations and warranties in providing the services and may take appropriate action, including Account suspension or termination, if it discovers that any representation or warranty is false.

37. Detailed Operational Procedures and Platform Usage

37.1. Platform Availability and Maintenance: The Company strives to provide continuous access to the Platform during standard trading hours. However, the Client acknowledges that the Platform may be temporarily unavailable due to scheduled maintenance, software upgrades, or unforeseen technical issues. The Company will endeavor to provide advance notice of scheduled maintenance, but may perform emergency maintenance without notice. The Company shall not be liable for any losses incurred by the Client due to Platform unavailability.

37.2. Data Feeds and Pricing: The pricing data provided on the Platform is derived from various third-party liquidity providers and data feeds. The Company acts as a market maker and provides its own executable prices based on these feeds. The Client acknowledges that the prices on the Platform may differ from prices available on other platforms, exchanges, or underlying markets. The Company does not guarantee the accuracy, completeness, or timeliness of the data feeds and shall not be liable for any errors or delays in pricing information.

37.3. Manifest Error: A Manifest Error exists where the execution price deviates from the fair market price by more than a material percentage as determined by reference to independent price sources at the time of execution. For the avoidance of doubt, a Manifest Error does not include ordinary market volatility, slippage, illiquidity, adverse market movement, rapid price movement, or losses resulting from normal market conditions. Where the Company determines that a Manifest Error has occurred, it shall notify the Client, provide evidence of the independent price source relied upon, and offer the Client the option of voiding the trade or adjusting the execution price to the fair market price.

37.4. Prohibited Software and API Access: The Client is strictly prohibited from using any unauthorized third-party software, automated trading systems, expert advisors, or Application Programming Interfaces (APIs) to access the Platform or execute Orders, unless explicitly authorized in writing by the Company. The use of unauthorized software may result in immediate Account suspension, cancellation of trades, and forfeiture of profits.

38. Client Funds and Segregation

38.1. Handling of Client Funds: The Company handles Client funds in accordance with the regulatory requirements of the specific contracting entity. The specific details applicable to the Client will be confirmed during the onboarding process and are set out in the Contracting Entity Schedule. The legal treatment of client funds is determined by the laws applicable to the contracting entity.

38.2. Banking Partner Risk: The Company exercises reasonable care and due diligence when selecting banking partners, payment institutions, and Electronic Money Institutions, including assessment of regulatory status, financial condition, and operational resilience. However, the Company cannot guarantee the solvency, continued operation, or financial condition of any third-party institution. In the event of a banking partner failure, the Company shall take reasonable steps to recover client funds and shall provide affected clients with timely information regarding the status of recovery efforts.

38.3. No Interest Paid: The Company does not pay interest on the funds deposited in the Client’s Account, regardless of the Account balance or the duration for which the funds are held.

38.4. Segregation: Client funds are held in accounts segregated from the Company’s own funds. The specific segregation arrangements, trust status, and insolvency treatment applicable to the Client’s funds are determined by the laws governing the Contracting Entity and are disclosed in the Client Funds Safeguarding and Availability Matrix.

38.5. Jurisdictional Variation: The Client acknowledges that segregation, safeguarding, trust arrangements, insolvency treatment, and creditor protections may differ between jurisdictions and institutions. The specific treatment applicable to the Client’s funds is disclosed in the Contracting Entity Schedule and Client Funds Safeguarding and Availability Matrix.

38.6. Proprietary Use Prohibition: Client funds shall not be used for Company expenses, hedging, liquidity management, or operational float.

39. Tax Obligations and Reporting

39.1. Client Responsibility: The Client is solely responsible for determining, calculating, reporting, and paying any taxes, duties, or other levies that may be applicable to their trading activities and Account balance in their jurisdiction of residence or any other relevant jurisdiction. Tax laws are complex and subject to change. The Company does not provide tax advice, and nothing in this Agreement or on the Platform should be construed as such. The Company cannot be held liable for the Client’s failure to fulfill their tax obligations. The Client should consult with an independent tax professional to understand their specific liabilities.

39.2. No Withholding: The Company generally does not withhold taxes from the Client’s profits or withdrawals, unless explicitly required to do so by Applicable Law or a binding order from a competent tax authority. If the Company is required to withhold taxes, it will deduct the necessary amount from the Client’s Account and remit it to the relevant authority. The Client agrees to indemnify the Company against any claims or liabilities arising from the Company’s compliance with such withholding obligations.

39.3. Information Sharing: The Client acknowledges that the Company may be required by Applicable Law, such as the Common Reporting Standard (CRS) or the Foreign Account Tax Compliance Act (FATCA), to share information regarding the Client’s Account, including balances and trading activity, with relevant tax authorities. The Client explicitly consents to such information sharing and agrees to provide any additional documentation required by the Company to comply with these reporting obligations.

40. Further Provisions on Dispute Resolution

40.1. Timely Notification: Clients should notify the Company of any complaint or dispute as soon as reasonably practicable after becoming aware of the relevant circumstances. Delay may affect the availability of evidence and the Company’s ability to investigate the matter effectively.

40.2. Language of Proceedings: All communications, notices, and legal proceedings related to this Agreement shall be conducted in the English language. If this Agreement is translated into another language, the English version shall prevail in the event of any conflict or inconsistency.

40.3. Individual Claims: To the fullest extent permitted by applicable law, claims shall be pursued individually.

40.4. Exclusive Proceedings: The Client shall not commence substantially identical proceedings in multiple jurisdictions simultaneously. Where proceedings are commenced in a jurisdiction other than that specified in the Contracting Entity Schedule, the Company may apply to the relevant court or tribunal for a stay or dismissal of such proceedings on the grounds of procedural duplication. Nothing in this clause limits any non-waivable statutory, regulatory, consumer, or public-law right.

40.5. External Dispute Resolution: Where an external dispute resolution mechanism, ombudsman, or mediation service is available in respect of the Client’s Contracting Entity, details shall be specified in the Contracting Entity Schedule. The availability of external dispute resolution depends on the regulatory framework applicable to the specific Contracting Entity.

41. Restricted Jurisdictions and Risk-Based Restrictions

41.1. Restricted Jurisdictions and Service Availability. The Company does not offer, solicit, onboard, maintain accounts for, or provide services to any person who is located in, resident in, incorporated in, established in, operating from, funded from, controlled from, or otherwise connected with any jurisdiction, territory, country, region, or circumstances where the provision of the Company’s services would be prohibited, restricted, require authorization, registration, licence, approval, or permission not held by the Company, conflict with applicable law, sanctions, AML/CTF requirements, financial-crime controls, banking or payment-partner requirements, or otherwise fall outside the Company’s approved legal, regulatory, licensing, operational, compliance, or risk framework.

41.2. Restricted Jurisdictions List. The Company may maintain and update a list of Restricted Jurisdictions on its website, platform, onboarding materials, account-opening documents, or other official Company channels. The list may include jurisdictions where the Company does not actively offer services, where local law or regulation restricts or prohibits the availability of the services, where the Company does not hold required authorization, where sanctions, AML/CTF, financial-crime, banking, payment, operational, or risk considerations apply, or where the Company has determined that services should not be made available. The list is non-exhaustive and may be updated from time to time. The absence of a jurisdiction from the list does not mean that the Company is authorized, willing, or required to provide services in that jurisdiction.

41.3. Client Representations. The Client represents and warrants on a continuing basis that they are not located in, resident in, incorporated in, established in, operating from, funded from, controlled from, or otherwise connected with a Restricted Jurisdiction or any jurisdiction or circumstance that would make the provision of services unlawful, unauthorized, restricted, impracticable, or inconsistent with the Company’s compliance, banking, payment, or internal-risk requirements. The Client further represents that they will not access or use the Website, Platform, Account, or services through any VPN, proxy, remote-access tool, nominee, third-party account, alternative payment route, misleading address, false documentation, or other method intended or likely to conceal or misrepresent their location, residence, nationality, citizenship, incorporation, establishment, beneficial ownership, source of funds, source of wealth, tax status, regulatory status, payment route, or eligibility to receive the services.

41.4. Company Discretion and Risk-Based Action. The Company may refuse onboarding, reject an account application, request additional information, suspend or restrict account access, disable or limit deposits, withdrawals, transfers, trading, new positions, platform access, or other account functionality, close or reduce open positions, cancel pending orders, return available funds, terminate the Account, or cease providing services where the Company determines, in its sole and absolute discretion acting reasonably and having regard to applicable law, sanctions, AML/CTF requirements, fraud-prevention controls, financial-crime risk, regulatory perimeter, licensing position, banking or payment-partner requirements, operational risk, confidential risk information, law-enforcement or regulatory information, adverse media, source-of-funds or source-of-wealth concerns, device, IP, geolocation, payment-route, beneficial-ownership, trading-activity, or other relevant risk indicators, that the Client, Account, activity, payment, location, connection, or circumstances present an unacceptable, elevated, uncertain, or unmanaged risk to the Company.

41.5. Confidential Risk Information. The Company is not required to disclose to the Client any confidential, privileged, commercially sensitive, security-related, AML/CTF, sanctions, fraud-prevention, financial-crime, banking, payment-partner, law-enforcement, regulatory, third-party, internal-risk, monitoring, screening, investigation, or control-related information forming part of the Company’s assessment, where disclosure may prejudice the Company’s controls, breach legal, regulatory, contractual, confidentiality, security, or third-party obligations, reveal monitoring rules, compromise investigations, facilitate circumvention, or otherwise be inappropriate.

41.6. Post-Onboarding Changes. The Client must notify the Company immediately if their location, residence, nationality, citizenship, place of incorporation, place of establishment, tax status, regulatory status, source of funds, beneficial ownership, payment route, or other relevant circumstances change in a way that may affect their eligibility to receive the services. Where the Company identifies a Restricted Jurisdiction, eligibility, sanctions, AML/CTF, fraud, banking, payment, regulatory, licensing, or risk issue after onboarding, the Company may take reasonable steps to protect the Client, the Company, and the Company’s legal, regulatory, banking, payment, financial-crime, and operational obligations.

41.7. Treatment of Open Positions and Available Funds. Where action is taken under this Restricted Jurisdictions section, the Company may restrict new trading, require additional information, close or reduce open positions, cancel pending orders, disable account functionality, and return available funds to the Client, subject in each case to applicable law, sanctions, AML/CTF review, fraud-prevention controls, banking and payment restrictions, chargeback or dispute risk, source-of-funds review, applicable fees, margin requirements, negative balance or outstanding obligations, and any other rights or obligations under these Terms. Nothing in this Section requires the Company to process any transaction or payment where doing so would be unlawful, restricted, impracticable, contrary to sanctions, AML/CTF, banking, payment, or regulatory requirements, or inconsistent with the Company’s financial-crime, fraud-prevention, or internal-risk controls.

42. Contractual Record, Client Acknowledgements and Disclosure Consistency

42.1 Complete Contractual and Onboarding Record: The parties acknowledge that this Agreement, together with any policies, schedules, disclosures, risk warnings, entity-assignment records, onboarding acknowledgements, account-opening confirmations, platform notices, transaction confirmations, account statements, trading records, withdrawal records, and other documents expressly incorporated into or generated in connection with the Client’s Account, forms the primary contractual and operational record of the relationship between the Client and the Company.

42.2 Transparent Allocation of Rights, Obligations and Risks: The purpose of this Agreement and the related onboarding disclosures is to describe the services, allocate rights and obligations transparently, disclose material trading and operational risks, identify the relevant Contracting Entity, and record the basis on which the Client elects to open, fund, maintain, trade through, and/or close an Account.

42.3 Consistency of Records and Communications: The Company seeks to maintain consistency between this Agreement, incorporated policies, website disclosures, onboarding screens, risk warnings, platform notices, operational procedures, and client communications. Where a material inconsistency is identified, the Company may review, correct, log, and remediate the inconsistency through its applicable change-control, complaints-handling, compliance, or operational procedures.

43. Communications and Notices

43.1. Electronic Communications: The Client agrees that all communications, notices, disclosures, and statements regarding this Agreement, the Account, and the services will be provided electronically. This includes emails sent to the Client’s registered email address, secure messages within the Platform, and notifications posted on the Company’s website.

43.2. Deemed Receipt: Any electronic communication sent by the Company shall be deemed received on the first Business Day following transmission unless the Company receives evidence demonstrating non-delivery. The Client is responsible for ensuring that their email address is accurate, active, and capable of receiving communications from the Company.

43.3. Client Notices: Any formal notices or legal correspondence from the Client to the Company must be sent in writing to the registered office address of the applicable Contracting Entity, as specified in Appendix A, the Contracting Entity Schedule, or otherwise notified to the Client during onboarding, with a copy sent via email to [email protected]. Notices sent by the Client shall be deemed received only upon actual receipt and acknowledgement by the Company.

44. General Provisions

44.1. Assignment: The Client may not assign, transfer, charge, novate or otherwise dispose of any rights or obligations under this Agreement without the Company’s prior written consent. The Company may assign, transfer or novate its rights and obligations to another group entity or successor entity upon reasonable notice to the Client, provided that such transfer does not materially reduce the Client’s contractual protections.

44.2. Notices: Except where a more specific notice procedure is expressly provided in this Agreement, all notices under this Agreement shall be in writing and delivered by email to the address registered on the Client’s account or, in the case of notices to the Company, to the contact address specified in the Contracting Entity Schedule. Notices shall be deemed received on the first Business Day following transmission unless the sender receives evidence demonstrating non-delivery.

44.3. Electronic Execution: This Agreement may be accepted electronically. Electronic acceptance shall have the same legal effect as a handwritten signature to the fullest extent permitted by applicable law.

44.4. Survival: Clauses which by their nature are intended to survive termination (including but not limited to liability, indemnity, confidentiality, dispute resolution, evidence preservation, and intellectual property provisions) shall continue in force after termination or expiry of this Agreement.

44.5. Third-Party Rights: Unless expressly stated, no person other than the Client and the Company shall have any right to enforce any term of this Agreement.

44.6. Language: This Agreement is drafted in English. If translated into any other language, the English version shall prevail in the event of any inconsistency.

44.7. Counterparts: This Agreement may be executed in any number of counterparts, each of which shall constitute an original.

Appendix A: Contracting Entity Schedule

This Appendix A forms an integral part of the Terms and Conditions and sets out the specific Bancara entities, their registration details, regulatory status, and applicable jurisdictions. The Client’s assigned contracting entity will be disclosed during the onboarding process.

Entity Name	Jurisdiction	Licence Number	Type of License	Regulator
BANCARA LTD	Comoros	CL20250609	Crypto Asset Provider	Mwali International Services Authority (MISA)
BANCARA LTD	Comoros	B2025121	Banking Licence	Mwali International Services Authority (MISA)
BANCARA LTD	Comoros	BFX2025085	Brokerage and Clearing House	Mwali International Services Authority (MISA)
ALTUS INVESTIUM LTD	Australia	ACN: 169 233 078 / ABN: 87 169 233 078	Australian Public Company, Limited by Shares	ASIC
MAGAUTA CAPITAL (PTY) LTD	South Africa	51687	Financial Service Provider	FSCA

Appendix B: Client Funds Safeguarding and Availability Matrix

This Matrix summarizes how client funds are identified, segregated, reflected, and made available for withdrawal. The precise financial-institution arrangements may vary by Contracting Entity, payment method, jurisdiction, and provider availability. Client funds are maintained separately from Company operational funds and are not used for Company operating expenses or corporate purposes.

Control area	Bancara treatment	Client impact
Segregation from Company funds	Client funds are maintained separately from Bancara operational funds.	Client funds are not part of Bancara’s operating cash and are not used for salaries, vendor payments, marketing expenditure, bonuses, operating costs, proprietary trading, liquidity management, or corporate purposes.
Client-specific identification	Deposits may be identified through a virtual IBAN, virtual account, named account reference, wallet/account identifier, or equivalent ledger allocation where supported by the relevant provider.	The Client’s balance is identifiable and reflected in the Client’s personal client area and/or trading account.
Balance visibility	The Client’s account balance, available free balance, used margin, and open-position exposure are reflected in the Platform or client area.	The Client can view funds available for trading and, where applicable, available for withdrawal.
Available free balance	Funds not committed to open positions, margin, fees, settlement obligations, investigations, chargebacks, payment-provider restrictions, or legal holds may be requested for withdrawal through the Platform.	Available funds are withdrawable through the client area/trading platform, subject to normal compliance and payment checks.
Funds committed to trading	Funds required for open positions, margin requirements, settlement obligations, or fees are not available for withdrawal while committed.	The Client must close or reduce positions, or wait for margin or obligations to be released, before those funds become withdrawable.
No operational commingling	Client funds are not used as Company operational float or mixed for corporate expenditure.	Bancara does not treat client money as operating capital.
Financial institutions	Client funds may be held or processed through regulated banks, credit institutions, payment institutions, electronic money institutions, safeguarding institutions, correspondent institutions, or other approved financial institutions.	The institution type may vary, but the segregation and client-identification controls continue to apply.
Access controls	Payment operations and fund-movement permissions are restricted to authorized personnel under documented internal controls.	General visibility of balances through CRM or trading systems does not permit staff to move client funds.
Compliance checks	Deposits and withdrawals may be subject to AML/CFT, sanctions, fraud-prevention, source-of-funds, chargeback, account-security, legal, regulatory, payment-provider, or technical checks.	Checks are compliance controls, not commercial retention tools.
Entity-specific legal treatment	Segregation, safeguarding, insolvency treatment, compensation scheme status, and complaint routes may vary by Contracting Entity and Applicable Law.	The Client receives entity-specific disclosure during onboarding and acknowledges the applicable treatment before funding.

Version: 1.1

Last Updated: 30^th June 2026