Terms and Conditions

Ver1.4 2024

PART I – OPENING PROVISIONS

  1. Parties to This Customer Agreement

1.1 This Customer Agreement is issued by Traze (Pty) Ltd, a private company incorporated in the Republic of South Africa under Company Registration Number 2016/164943/07, with its registered office at Section 33, 4th Floor, Katherine and West Building, 114 West Street, Sandton, Gauteng, 2196, South Africa. Traze (Pty) Ltd is an authorised Financial Services Provider (FSP) regulated by the Financial Sector Conduct Authority (FSCA) under FSP Number 48248. Traze (Pty) Ltd does not engage in Principal trading, market-making activities, or act as an Over-the-Counter Derivatives Provider (ODP). It solely provides financial advisory and intermediary services to clients in accordance with the FAIS Act.

1.2 The actual trading platform, account operation, and execution services are provided by Zeal Capital Market (Seychelles) Limited, which operates under the registered trade names “ZFX” and “Traze”. Zeal Capital Market (Seychelles) Limited is licensed as a Securities Dealer by the Financial Services Authority (FSA) of Seychelles under license number SD027, with company registration number 8422618-1, principal office at Room 2, Green Corner Building, Providence Industrial Estate, Mahe, Seychelles, and registered address at Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles.

1.3 By remaining on this website or engaging with the services, you acknowledge that your point of engagement in South Africa is with Traze (Pty) Ltd, and that it acts solely as an intermediary to facilitate access to Zeal Capital Market (Seychelles) Limited for trading services.

1.4 Zeal Capital Market (Seychelles) Limited does not offer services to residents of certain jurisdictions, including the United States of America, Brazil, Canada, Egypt, Iran, North Korea, and countries within the European Union. Clients onboarded via Traze (Pty) Ltd acknowledge that their trading relationship is established directly with Zeal Capital Market (Seychelles) Limited.

 

  1. Effect of the Agreement

2.1 This Customer Agreement becomes effective when accepted online and when your account has been confirmed as active. You understand and accept that your interactions with Traze (Pty) Ltd relate solely to intermediary services, and that all trading infrastructure, account management, and execution functions are provided by Zeal Capital Market (Seychelles) Limited.

2.2 By continuing to access the platform, you agree to be bound by this Agreement. You acknowledge that while Traze (Pty) Ltd may have facilitated your onboarding, the regulated financial services and trading activities are conducted under Seychelles law and provided by Zeal Capital Market (Seychelles) Limited.

2.3 Activation of any trading account is contingent on the successful submission and verification of required Know Your Client (KYC) and Anti-Money Laundering (AML) documentation. Traze (Pty) Ltd collects such information for compliance purposes and to transmit it to Zeal Capital Market (Seychelles) Limited for onboarding.

2.4 All trading activities—including order execution, margin management, and account maintenance—are carried out under the regulatory jurisdiction of Seychelles, and not under the FSCA or South African law. Traze (Pty) Ltd does not provide execution services or hold client funds.

  1. Scope of Services

3.1 Once your account is activated by Zeal Capital Market (Seychelles) Limited, you may gain access to the following services:

  • (a) Execution and reception/transmission of orders in financial instruments;
  • (b) Foreign exchange services linked to investment instruments;
  • (c) Custody and administration of financial instruments, including margin or collateral services;
  • (d) General market research and financial analysis.

3.2 All services listed above are rendered by Zeal Capital Market (Seychelles) Limited under FSA regulation. Traze (Pty) Ltd’s involvement is strictly limited to facilitating your access as an introducing intermediary and does not extend to the execution or delivery of any trading service.

3.3 Neither Zeal Capital Market (Seychelles) Limited nor Traze (Pty) Ltd provides personal investment advice. Market information or research available on the platform is generic and does not take your personal circumstances into account.

3.4 Zeal Capital Market (Seychelles) Limited may evaluate your knowledge and experience in order to determine the suitability or appropriateness of a product or service. You are responsible for providing accurate and complete information during onboarding.

3.5 Zeal Capital Market (Seychelles) Limited reserves the right to change, suspend, or terminate the services offered on the platform at any time. Traze (Pty) Ltd assumes no liability for service-related decisions made by Zeal.

 

  1. Acknowledgements and Trading Relationship

4.1 You confirm that your trading account is maintained and operated exclusively by Zeal Capital Market (Seychelles) Limited, and that Traze (Pty) Ltd acts solely as an intermediary with no operational role in the trading account.

4.2 No interest will accrue on funds held in your trading account. These funds are held solely to support your margin and trading activity and are administered in Seychelles.

4.3 All transactions are executed by Zeal Capital Market (Seychelles) Limited as principal or through counterparties. Traze (Pty) Ltd has no involvement in pricing, order routing, or market access.

4.4 You acknowledge that Contracts for Difference (CFDs) are traded on an Over-the-Counter (OTC) basis and not on regulated exchanges, carrying associated risks.

4.5 You declare that you have carefully read and fully understood this Customer Agreement and agree to be bound by it.

4.6 You confirm that you have reviewed and accepted the following documents provided on the trading platform:

  • (a) Risk Disclosures,
  • (b) Order Execution Policy.

4.7 You consent to receiving these documents and any updates via the platform’s official website.

4.8 You confirm that you have regular internet access and agree to receive updates, notices, and disclosures electronically, including changes to this Agreement.

4.9 Legal or regulatory updates may take effect immediately without prior notice. The latest version of this Agreement will always be available on the platform.

4.10 Your trading account is strictly for trading purposes. The platform does not constitute a deposit-taking or banking facility.

4.11 Zeal Capital Market (Seychelles) Limited enforces a zero-tolerance policy for market abuse, fraud, and misuse of trading mechanisms. This includes activities such as bonus abuse, arbitrage, hedging strategies, and use of automated trading systems. If such activities are detected, the Company may reverse trades and profits without prior notice.

5 Risk Warning

5.1 You unreservedly acknowledge and accept that:

  1. a) You run a great risk of incurring losses and damages as a result of trading in CFDs and/or Financial Instruments and accept and declare that you are willing to undertake this risk. The damages may include the loss of all your money as well as any additional commissions and other expenses,
  2. b) CFDs and/or Financial Instruments carry a high degree of risk. The gearing or leverage obtainable in CFDs and/or Financial Instruments trading means that a small deposit or down payment can lead to large losses as well as gains. It also means that a relatively small movement can lead to a proportionately larger movement in the value of your investment and this can work against you as well as for you. CFDs and/or Financial Instruments Transactions have a contingent liability and you should be aware of the implications of this, in particular, the margining requirements,
  3. c) When trading in CFDs and/or Financial Instruments, you are trading on the outcome of the price of an Underlying Asset and that trading does not occur on a regulated market, but over-the-counter (OTC), 
  4. d) Before deciding to trade on margin you should carefully consider your investment objectives, level of experience, and risk appetite, 
  5. e) You have chosen the particular type of service and Financial Instrument, taking your total financial circumstances into consideration, which you consider reasonable under such circumstances, and
  6. f) There are risks associated with the use of online deal execution and trading systems including, but not limited to, software and hardware failure and internet disconnection. The Company is not responsible for such losses or failures.

5.2 The Company shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided. Any opinions, news, research, analyses, prices, or other information contained on this Website are provided as general market commentary, and do not constitute investment advice. The Company will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. 

5.3 The contents of any report provided should not be construed as an express or implied promise, as a guarantee or implication that Clients will profit from the strategies herein, or as a guarantee that losses in connection therewith can, or will be limited. 

5.4 Trades in accordance with the recommendations in an analysis, especially leveraged investments can be very speculative and may result in profits, as well as losses, especially if the conditions mentioned in the analysis do not occur as anticipated. 

5.5 In case of any fault in pricing process, typing errors, entering errors and quoting errors through the electronic trading system and/or phone, the Company has full right to make any necessary modifications to the investor’s trading account in which the mistake took place. 

5.6 If you do not understand the risks involved in trading foreign exchange or leveraged Financial Instruments, please do not trade.

6 Liability

6.1 You agree that we shall not be liable for any consequential, indirect, incidental or special loss (including loss of profits and trading losses) that result from your use of the Services even if you have advised us of the possibility of such loss. Consequential loss includes pure economic loss, loss of profit, loss of business and likely loss whether direct or indirect. 

6.2 Other than through our negligence or willful default, we will not be held liable for any losses, damages or claims that result directly or indirectly from any person obtaining any access data that we have issued to you prior to you reporting to us the misuse of your access data. 

6.3 We will not be held liable to you for any losses, damages or claims which result directly or indirectly from any research which you rely upon in making an Order, whether published by us or not. 

6.4 We will not be held liable to you for any losses, damages or claims, which result directly or indirectly from a delay transmitting any Order. 

6.5 We will not be held liable to you for any losses, damages or claims, which result directly or indirectly from any changes in the rates of tax. 

6.6 We will not be liable for any losses, damages or claims which result directly or indirectly if we fail to receive any documents sent in respect of your Account or any funds held on your behalf, or if you fail to receive any such documentation which we may forward to you. 

6.7 Nothing in this Customer Agreement shall be taken to restrict or exclude any duty or liability which we may owe you. 

6.8 You agree to indemnify us against any loss, liability, cost, claim, action, demand or expense incurred or made against us in connection with the proper performance of your obligations under this Customer Agreement, except where that loss, liability, cost, claim, action, demand or expense arises from our negligence, fraud or willful default or that of our employees.

6.9 Our failure to seek redress for violations, or to insist upon strict performance, of any condition or provision of this Customer Agreement or our failure to exercise any right or remedy to which we are entitled under this Customer Agreement, shall not constitute an implied waiver thereof.

PART II – FUNDS

7 Client Money

7.1 All amounts handed over by the Client to the Company or which the Company holds on behalf of the Client, for the provision of Investment Services, shall be held in the name of the Client and/or in the name of the Company on behalf of the Client in an account. All Client Funds deposited for the provision of Investment Services, shall

7.2 We may hold your money and the money of other Clients in the same clients’ bank account (omnibus account). In this case, we are able to identify your money through our back office and accounting system. 

7.3 We may receive or pass on clients’ money to any of our affiliated companies or a third party (e.g. a bank, a market, merchant, e-wallet, intermediate broker, OTC counterparty or clearing house) to hold or control in order to affect a Transaction through or with that person or to satisfy your obligation to provide collateral (e.g. initial margin requirement) in respect of a Transaction. We have no responsibility for any acts or omissions of any third party to whom we pass money received from you. The third party to whom we pass money may hold it in an omnibus account and it may not be possible to separate it from our money, or the third party’s money. In the event of the insolvency or any other analogous proceedings in relation to that third party, we will only have an unsecured claim against the third party on behalf of you and our other Clients, and you may be exposed to the risk that the money received by us from the third party is insufficient to satisfy the claims of you and all other Clients with claims in respect of the relevant account. The Company accepts no responsibility for any funds not deposited directly into the Company’s bank accounts, for losses (directly or as a result of) due to delays and/or failures to deposit or remit funds through affiliated and/or third parties.

7.4 We shall not pay interest on Client money that is credited or deposited into the segregated Client Account(s) by the Company, and we may place your money in overnight deposits. You hereby consent that we are permitted to keep any interest accrued. We may deposit your money with a depository which may apply a security interest, lien, or right of set-off to the funds. 

7.5 We may hold your Client money on your behalf outside our home jurisdiction. The legal regime applying to any such bank or person may be different. In the event of the insolvency or any other analogous proceedings in relation to that bank or person, your money may be treated differently from the treatment which would apply if the money was held with a bank in an account in our home jurisdiction. We will not be liable for the insolvency, acts or omissions of any third party referred to in this clause. 

7.6 We may deposit your money with a depository who may have a security interest, lien or right of set-off in relation to that money. 

7.7 Upon signing or acceptance of the Customer Agreement, you hereby authorise the Company to process any deposits and withdrawals from the “Client Funds” Bank Account on behalf of the Company including, and without prejudice to, the generality of the above, withdrawals for the settlement of all transactions undertaken under the Customer Agreement, and all amounts which are payable by or on behalf of the Client to the Company or any other person. 

7.8 Unless otherwise agreed to in writing between the Company and the Client, the Company may, at its discretion, from time to time and without the Client’s authorisation, set-off any amounts held on behalf of the Client and/or to the credit of the Client against the Client’s obligation to the Company or its Broker(s). Unless otherwise agreed to in writing by the Company and the Client, this Agreement shall not give rise to rights of any credit facilities.

8A. Funding and Withdrawals of the Client’s Account

8.1 You may fund your Account by credit or debit card, wire transfers or SEPA transfers, e-wallets or other similar methods of money transfer acceptable by the Company or any of its affiliated companies from time to time in its absolute discretion. We do not guarantee that all the transfer methods are available to be used in your country. Transfers to fund your account can only be initiated by you either 1) through the trading platform or 2) through the assistance of a telephone representative, subject to your express consent.

8.2 The minimum initial deposit required to start trading is described in the ‘Accounts’ section of our Website. At our discretion, we can allow you to start trading if you have transferred fewer funds than the minimum initial deposit. We reserve the right to refuse cash deposits and/or access to trading accounts due to said cash deposits. 

8.3 You may request to withdraw funds deposited from your account as per the procedure described in the withdrawals section of the website, subject to delivering to us the required documents. If your withdrawal request is made to us without meeting all requirements, the Company reserves absolute discretion to withhold this withdrawal request until all legal requirements are met. The Company does not charge any fees for transferring withdrawal funds to you, but any expenses incurred by the bank, credit card company, payment processor, or e-wallet for transferring the withdrawn funds shall be passed to you; please refer to the relevant section on our website. The maximum amount that can be transferred to your initial deposit facility is equal to the initial deposit made. Profits made can only be transferred to your bank account. 

8.4 The Client may withdraw funds deposited to his/her Account and/or profit gained through trading transactions from his/her Accounts only to the relevant account or card that was used to fund the Account (such account to be called “Originating Account/Card”). Transfers (withdrawals) of funds to accounts or cards other than the

Originating Account/Card may be permitted at the Company’s sole discretion and provided the Company is satisfied that there is a reasonable justification for transmitting the funds to a different account. The minimum withdrawal amount is USD 25, unless otherwise stated. 

8.5 The Client is fully responsible for the payment details given to the Company and the Company accepts no responsibility for the Client’s funds, if the details provided by the Client are incorrect. If a withdrawal request is made to a bank account, the Client has 10 working days from the date of the withdrawal request to provide his bank details. If ten days have passed without obtaining sufficient and appropriate information, the funds will be returned to his trading account and a new withdrawal request must be submitted. 

8.6 The Company will process withdrawals of Client funds only when the identity of the Client is verified by valid “Know Your Client” and Anti-Money Laundering documentation.

8.7A We shall make any payments due to you in such a manner as we deem appropriate in the circumstances and maintain a zero-tolerance policy for any violations of these Terms and Conditions such as, but not limited to, any fraudulent credit/debit card use, credit/debit card chargebacks, or other processor chargebacks (regardless of when the transaction or chargeback occurred), in which case all accounts will be immediately and irrevocably terminated. Any open trades associated with the account will be immediately closed and future trades will be refused as per provision 13.1.q of the Terms and Conditions. You acknowledge that we are not required to provide you notice before closing your trades and/or account but may choose to do so. 

8.7B In cases of suspected “Friendly Fraud” such as an unwarranted chargeback claim against a legitimate transaction, you acknowledge that, in addition to the rights mentioned in provision 8.7A, the Company also reserves the right to:

  1. a) Immediately, irrevocably, and indefinitely ban you – and all third parties you have authorised to act on your behalf – from using our services. We reserve the right to implement bans on:
  2. All IP addresses used to access or otherwise associated with your account;
  3. Your own and your authorised third parties’ registered postal and billing addresses transmitted during the account verification process;

iii. Your own and your authorised third parties’ names and last names, and all other identification details as they appear on the identification documents submitted during the account verification process;

  1. Any other identifying elements we may find appropriate and effective. 

All bans will be final and non-negotiable and may include any of the following actions:

  1. b) Recover the chargeback amount(s) from your account’s remaining balance;
  2. c) Seize the total sum of profits from your account’s remaining balance;
  3. d) Seize any given bonuses from your account’s remaining balance;
  4. e) Notify all relevant credit issuers and credit rating institutions;
  5. f) Pursue criminal proceedings against you for credit card fraud;
  6. g) Initiate civil proceedings against you for redress, compensation, and recovery of any and all incurred losses and damages, including damages to reputation, directly or indirectly related to fraudulent chargebacks. 8.7C Provided that we find provision 

8.7.C to be adequately satisfied, any positive balance left in your account will be refunded to the point of origin of the funds. You acknowledge that we are not required to provide you notice before proceeding with the refund, but may choose to do so.

8B Promotions and Incentives

8.8 Open trades of Clients who have not logged in for more than 1 week and/or never deposited any funds will be closed automatically each weekend and the funds will be debited from their account. The Company accepts no liability or responsibility for the financial outcome resulting from the automatic closing of such open positions. 

8.9 The Company, from time to time, and at our sole discretion, may offer several types of promotions and/or incentives through which Clients can earn specified rewards upon reaching or by completing pre-defined targets. “Promotions” are schemes which the Company runs repeatedly with the same or similar mechanisms whilst “incentives” (or competitions) are specific one-off schemes (for example, but not limited to, Christmas gifts) usually open to Clients only subject to invitation and respective confirmations. Clients who have not deposited any funds cannot be entitled to any bonus, or to any withdrawal bonuses and/or any other similar incentives which may be available under any promotion or incentive offered by the Company. 

8.10 Joining promotions will be subject to specific conditions, as listed below, in Section 8.12. However, the conditions applicable for the specific one-off incentives are/will be issued in the incentive announcement. When joining promotions and/or incentives, all other terms of this Agreement apply unless expressly and specifically excluded. Conditions apply for the duration of the promotion/incentive only and may be subject to change without any notice. 

8.11 Any suspected breach, violation, or abuse of this Agreement and/or the specific conditions may lead, without prejudice, to any other right we may have under this Agreement or Regulations, to the immediate cancellation, withdrawal and debit of all bonuses. 

8.12 Promotions and incentives are subject to availability and might not be offered to all clients. By participating in promotions and incentives you continue to accept our Terms and Conditions. We reserve the right to change promotions and/or incentives, conditions, withdraw, or annul any scheme without prior notice.

8.13 Promotions:

Deposit Bonus

(a) Subject to the deposit method, bonuses receive instant or managers’ approval and will be visible in your bonus wallet only once approved. 

(b) Some bonus promotions might include a time window for which new deposits are eligible to receive a bonus and shall accordingly be announced in the terms of the respective promotion. In case no specific time window is stipulated, all deposit requests must be received within the first 24 hours of the first deposit under the respective bonus promotion in order to be eligible for a bonus. 

(c) The respective bonus promotion shall indicate the bonus to be granted with each approved deposit. In case no specific terms are issued, the bonus shall be 30%. 

(d) The required trading volume is based on the cumulative bonus amount and updated each time a bonus is issued. 

(e) When the bonus is approved, it will be automatically credited to your account balance and can be withdrawn immediately. 

(f) Bonus funds cannot be used for trading until they are added to your account balance. 

(g) Deposited funds (excluding the bonus) can be withdrawn at any time. 

(h) The Company reserves the right to amend and/or cancel the conditions of its bonus promotions at any time and it shall be the responsibility of the Client to stay informed accordingly. By continuing to participate in bonus promotions, you agree to their Terms and Conditions.

9 Margins and Collateral Payment

9.1 During the lifetime of any Financial Instrument, we, in our absolute discretion, reserve the right to review and adjust the percentage of funding required or the rates at which interest is calculated on such Financial Instrument, with or without notice to you, especially in, but not limited to, volatile market conditions. Positions that are open overnight may be adjusted to reflect the cost of carrying the position over. Details of such adjustments are available on our Website. 

9.2 Where we affect or arrange a Transaction involving a CFD you should note that, depending upon the nature of the Transaction, you may be liable to make further payments when the Transaction fails to be completed or upon the earlier of the transaction settlement or closing out of your position. You will be required to make further variable payments by way of margin against the purchase price of the Financial Instrument, instead of paying (or receiving) the whole purchase (or sale) price immediately. The movement in the market price of your investment will affect the amount of margin payment you will be required to make. We will monitor your margin requirements on a daily basis and we will inform you as soon as it is reasonably practicable of the amount of any margin payment required under this clause. 

9.3 You agree to pay us on demand such sums by way of margin as are required from time to time or as we may in our discretion reasonably require for the purpose of protecting ourselves against loss or risk of loss on present, future or contemplated transactions under this Customer Agreement. 

9.4 Unless otherwise agreed, margin must be paid in cash. Cash margin is paid to us as an outright transfer of funds and you will not retain any interest in it. Cash margin received by us will be recorded by us as a cash repayment obligation owed by us to you. 

9.5 In addition and without prejudice to any rights to which we may be entitled under this Customer Agreement, we shall have a general lien on all funds held by us or our Nominees on your behalf until your obligations are met.

9.6 We shall have the right, in addition to any other rights we may have under this Customer Agreement, or under the law in general, to close, cancel and or limit the size of your open positions (new or gross) and to refuse to establish new positions. Situations where we may exercise such right include, but are not limited to, where:

  1. a) We consider that there are abnormal trading conditions, 
  2. b) We consider there to have been abusive trading strategies transmitted to us, or
  3. c) Your account has reached Stop Out level. 9.7 At margin levels of less than 30% of your equity, we have a discretionary right to begin closing positions immediately and without notice. Individual Stop Out levels are set at 30% and we reserve the right to close all or any of your Open Positions below Stop Out level immediately and without notice solely in our discretion. The provisions of this paragraph are applicable to all Clients.

9.7 At margin levels of less than 30% of your equity, we have a discretionary right to begin closing positions immediately and without notice. Individual Stop Out levels are set at 30% and we reserve the right to close all or any of your Open Positions below Stop Out level immediately and without notice solely in our discretion. The provisions of this paragraph are applicable to all Clients.

9.8 It is in the Company’s discretion to close any open deals after an inactivity period of 90 days of such deals. Hedging positions may incur an administration fee of 0.1% of the complete volume (deal plus hedge position) in US-Dollars per day and we retain the right to close any hedged positions after 21 days without any further notice. 

9.9 We shall be entitled to retain monies which are required to cover adverse positions, initial margin, variation margin, any uncleared funds, realized losses and any and all other amounts payable to us under this Customer Agreement. 

9.10 Whenever we conduct currency conversions, we will do so at such reasonable rate of exchange as we shall select

PART III – Order Execution

10.1 You acknowledge that Zeal Capital Market (Seychelles) Limited is the entity responsible for executing or arranging the execution of your orders. Zeal is committed to acting in the best interest of its clients and, where applicable, will take reasonable steps to obtain the best possible result (“best execution”). Zeal has implemented internal policies and procedures governing order execution. These are reviewed regularly and may be updated without prior notice to ensure optimal service levels.

10.2 All transactions are executed by Zeal in its capacity as principal, not as an agent. This means that your transactions occur directly with Zeal and not through an exchange or external market. Accordingly, trades are non-transferable and must be closed with Zeal, not any third party.

10.3 Zeal applies the following execution factors when processing your orders:

  • (a) Price: Pricing for CFDs is sourced from independent third-party liquidity providers active in the OTC market. Zeal cannot guarantee that quoted prices are better than those available elsewhere.
  • (b) Cost: A mark-up is added to prices received from liquidity providers, and these marked-up prices are published on the platform. This includes Zeal’s income. Closing prices for currencies will be used to determine margin requirements and account balances.
  • (c) Speed and Likelihood of Execution: Orders may be placed via the platform or communication channels like telephone. Execution speed is subject to market conditions, platform performance, and third-party data systems, which may experience interruptions.
  • (d) Quantity: Minimum and maximum order sizes are subject to policy and market liquidity. Price and cost are considered the most significant execution factors.

10.4 When arranging transactions, Zeal considers:

  • (a) Client categorization;
  • (b) Order characteristics;
  • (c) Financial instrument characteristics.

10.5 Subject to market volatility, your order may be executed at or near the quoted price, but no price is guaranteed due to the dynamic nature of the OTC market. Execution may be delayed, altered, or cancelled based on conditions.

10.6 Zeal may cancel or refuse orders if there is reason to believe that market abuse, regulatory breaches, or errors in pricing have occurred.

10.7 If you provide specific instructions for execution, Zeal will take reasonable steps to accommodate them. However, such instructions override Zeal’s standard execution policy.

10.8 Where specific instructions are followed, Zeal is not obligated to deliver best execution in respect of those aspects of the order.

10.9 Charges related to your orders may be incurred based on Zeal’s standard execution costs. Clients will be notified of applicable charges before execution.

10.10 For all OTC financial derivative products, Zeal will take reasonable steps to achieve the best result under its Execution Policy and any instructions provided.

10.11 In doing so, Zeal will evaluate factors such as price, cost, speed, likelihood of execution and settlement, size, and order characteristics.

10.12 Zeal uses its commercial experience and judgment in assessing these factors, with price rated as the most important factor.

10.13 Zeal reviews its Execution Policy periodically and monitors external pricing sources to maintain execution quality.

10.14 Clients will be notified in writing at least 14 days in advance of any material changes to the Order Execution Policy. The most up-to-date version will be available on Zeal’s website.

 

Section 11 – Refusal to Transmit Orders

11.1 You agree and understand that Zeal Capital Market (Seychelles) Limited, as the execution venue, reserves the right at its sole discretion to refuse to execute or transmit any order without prior notice. You waive any claim to damages, performance, or compensation in any of the following circumstances, including but not limited to:

  1. a) If the order may affect the integrity or operation of the trading platform;
    b) Insufficient cleared funds or margin available in your account;
    c) Absence of essential order details;
    d) Infeasibility due to price or size;
    e) Ambiguity or multiple interpretations of the order;
    f) Market conditions, customs, or abnormal trading volume prevent execution;
    g) Order cancellation request received;
    h) Notification of Customer Agreement termination;
    i) Doubts about the authenticity of the order;
    j) Suspicion of money laundering or terrorist financing;
    k) Lawful claims or demands from trading venues or third parties;
    l) Legal doubt regarding the order;
    m) Court order compliance;
    n) Situations arising under Section 9 or 21 of this Agreement;
    o) Order submitted in an unacceptable manner or format;
    p) Underlying market is closed and no liquidity is received from execution venues;
    q) Account is under investigation or termination as per provision 8.7;
    r) Suspected or actual breach of this Agreement or platform terms.

12 Assurances, Guarantees

12.1 By agreeing to be bound by this Customer Agreement, and on each occasion that you place an Order, you state, affirm, warrant and guarantee the following:

  1. a) You are placing the Order and entering into the Transaction as principal, (that is on your own behalf and not for any third person), unless you have submitted a document and/or Powers of Attorney enabling you to act as representative and/or trustee of any third person and relevant identification documents for such third party. 
  2. b) You are entering into the terms of this Customer Agreement and each Transaction does not breach, conflict with or constitute a default under any law, regulation, rule, judgment, contract or other instrument binding on you or any of your funds or assets. 
  3. c) You are not subject to any restrictions on placing the Order or entering into the Transaction related to the Order. 
  4. d) You have taken such advice in respect to the Transaction related to the Order and have not relied on any representation or information provided by us in reaching your decision to enter into the Transaction. 
  5. e) You are duly authorised to and have obtained all necessary power, authorizations and approval to enter into this Customer Agreement and to sign and give Orders and to otherwise perform your obligations under this Customer Agreement. 
  6. f) All the information disclosed otherwise is true and accurate and that you undertake to inform us in writing should there be any changes to the information provided. 
  7. g) The documents submitted to us are valid and authentic and to the best of your knowledge and belief, the information provided in the application form and any other documentation supplied in connection with the application is correct, complete and not misleading and you will inform us if any changes to such details or information. 
  8. h) Your funds are not in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for terrorist financing. 
  9. i) You are over 18 years old and of sound mind, having no legal or other obstacle prohibiting you from entering into this Customer Agreement. 
  10. j) You have provided us with your investment objectives which are relevant to our Services for example whether there are any restrictions on the markets or instruments in which any Transactions will be sent for execution for you, depending on your nationality or religion.  

13 Third Party Authorisation to Trade

13.1 You have the right to authorise a third person (“Authorised Party”) to give instructions and/or Orders to us provided you have notified us in writing of exercising such a right and that this person is approved by the Company, fulfilling all of our specifications for this arrangement.

13.2 Unless we receive a written notification from you for the termination of the Authorised Party’s authorisation, we will continue accepting instructions and/or orders given by the Authorised Party on your behalf and you will recognize such Orders as valid and committing to you. 

13.3 The written notification for the termination of the authorisation to a third party has to be received by us with at least 5 days’ notice prior the termination date.

13.4 MAMM ACCOUNTS

13.4.1 If for MAMM account management you authorise a third party to act on your behalf as an agent or otherwise, then such a party may instruct us and send requests concerning any Transaction, or proposed Transaction, or any other matter on your behalf to which we shall be bound. 

13.4.2 You authorise us to rely and act on any request, instruction, or other communication received by us which purports to have been given by you or on your behalf without further enquiry on the part of the Company as to the authenticity, genuineness, authority or identity of the person giving or purporting to make such a request, instruction, or other communication. 

13.4.3 You will be responsible for, and will be bound by, all obligations entered into or assumed by us on your behalf as a consequence of or in connection to such requests, instructions, or other communications. 

13.4.4 Further to clause 10.3, if you have expressly authorised a third party to act on your behalf, references to ‘Client’ or ‘you’ throughout the Agreement shall also include references to your authorised third party delegate.

PART IV – GENERAL PROVISIONS

14 Legal Provisions

14.1 Notwithstanding any other provision of this Customer Agreement, in providing Services to you we shall be entitled to take any action we consider necessary in our absolute discretion to ensure compliance with the relevant market rules and or practices and all other applicable laws.

14.2 We are authorised to disclose information related to you and/or your Transactions as required by law and/or where we believe it is desirable for the proper handling of your Account. 

14.3 Under internal policies, we will keep Client records for at least 7 years after termination of the Customer Agreement. 

14.4 Should any part of this Customer Agreement be held by any court of competent jurisdiction to be unenforceable, illegal, or contradict any rule, that part will be deemed to have been excluded from this Customer Agreement from the beginning. This Customer Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Customer Agreement or the legality, validity or enforceability of this provision in accordance with the law and/ or regulation of any other jurisdiction, shall not be affected.

15 Introduction of Clients

15.1 Some Clients may have been introduced to the Company by a Business Introducer (also known as an Introducing Broker). In such case and by accepting this Customer Agreement, the Client acknowledges that:

  1. a) The Business Introducer is not a representative of the Company nor is it authorised to provide any guarantees or any promises with respect to the Company or its services, 
  2. b) The Company shall not be held liable for any type of agreement that may exist between the Client and the Business Introducer or for any additional costs that might result from this agreement, and
  3. c) Based on a written agreement with the Company, the Company may pay a fee other type of financial compensation to the Business Introducer as defined in Section 18 (Inducements).

16 Inducements (Payments to/from Third Parties)

The Company may pay and/or receive fees or commission to or from third-parties provided that these benefits are designed to enhance the quality of the service offered to the Client and not impair compliance with the Company’s duty to act in the best interests of the Client.

16.1 The Company may pay a fee or commission to Business Introducers, Referring Agents, or other third parties based on a written agreement. This compensation is related to the frequency or volume of transactions and/or other parameters. 

16.2 The Company may receive fees or commission as well as other types of compensation from third parties based on a written agreement. The Company may receive fees or commissions from the counterparty through which it executes transactions. This fee or commission is related to the frequency or volume of transactions executed and/or other parameters. 

16.3 The Company has the obligation and undertakes to disclose further details regarding compensation upon the Client’s request.

17 Communication and Notices

17.1 We may provide you with access to third party trading recommendations, market commentary or other information. Where we do so:

  1. a) If this is incidental to your trading relationship with us. It is provided solely to enable you to make your own investment decisions and does not amount to investment advice. 
  2. b) If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons. 
  3. c) We give no representation, warranty or guarantee as to the accuracy of completeness of such information or as to the tax consequences of any Transaction, and
  4. d) You accept that prior to dispatch, we may have acted upon it ourselves to make use of the information on which it is based. We do not make representations as to the time of receipt by you and cannot guarantee that you will receive such information at the same time as other clients. Any published research reports or recommendations may appear in 1 or more screen information service. 

17.2 Market commentary is subject to change and may be withdrawn at any time without notice.

 

  1. Complaints

18.1 These Terms and Conditions are issued by Traze (Pty) Ltd, Company Registration Number: 2016/164943/07, with its registered address at Section 33, 4th Floor, Katherine and West Building, 114 West Street, Sandton, Gauteng, 2196, South Africa. Traze (Pty) Ltd is an authorised Financial Services Provider (FSP) regulated by the Financial Sector Conduct Authority (FSCA) under FSP Number 48248. Traze (Pty) Ltd does not conduct any Principal or market-making activities and is not an Over-the-Counter Derivatives Provider (ODP). It acts solely as an intermediary, facilitating client access to trading services provided by the liquidity provider.

18.2 The trading platform and execution services are offered by Zeal Capital Market (Seychelles) Limited, which operates under the trade name Traze. Zeal Capital Market (Seychelles) Limited is regulated by the Financial Services Authority (FSA) of Seychelles as a Securities Dealer under license number SD027, with company registration number 8422618-1. Its principal office is located at Room 2, Green Corner Building, Providence Industrial Estate, Mahe, Seychelles, and its registered address is Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles.

18.3 Any complaints regarding intermediary services rendered by Traze (Pty) Ltd under its FSCA license must be submitted either via the ‘Contact Us’ section on our website or by email to support.sa@traze.com. Such complaints will be acknowledged within 48 hours and logged in accordance with the internal complaints management procedure.

18.4 Complaints must be submitted within five (5) business days of the incident or awareness thereof and must include:

  • (a) Full name of the client,
  • (b) Username,
  • (c) Contact details (email and phone),
  • (d) Clear and specific description of the complaint, including relevant deal IDs,
  • (e) Supporting documents or screenshots.

18.5 Complaints must originate from the email address registered with the client’s trading account. Complaints submitted beyond the five-day window may be reviewed at the Company’s discretion.

18.6 Complaints must be submitted in English, legibly and professionally. Submissions lacking sufficient detail or containing offensive language will not be processed.

18.7 We aim to resolve all complaints within five (5) business days. If resolution requires more time, we will issue a holding response within that time and aim to provide a final resolution within six (6) weeks from the date the complaint is received.

18.8 If you are not satisfied with the outcome of your complaint regarding services rendered by Traze (Pty) Ltd, and such services fall within the scope of the FAIS Act, you may escalate the complaint to the Ombud for Financial Services Providers (FAIS Ombud) within six (6) months of receiving our final response. Contact details:

FAIS Ombud
Email: info@faisombud.co.za
Tel: +27 12 762 5000
Website: www.faisombud.co.za

18.9 Where additional information is requested regarding a complaint, such information will be provided (where available) within 90 days of request, subject to the client completing the appropriate form provided by the Company.

18.10 Pricing-related complaints will be resolved using the actual market data at the time of the alleged incident, based on server-side logs and liquidity provider feeds. Clients must report any discrepancies within 48 hours of receiving their trading statement.

18.11 The Company is not obligated to investigate complaints concerning:

  • (a) Orders or modifications rejected in line with this Agreement,
  • (b) Communications errors caused by the client or service provider,
  • (c) Platform outages due to maintenance or force majeure,
  • (d) Cancellation of profits earned from voided transactions,
  • (e) Absence of server logs for the disputed event,
  • (f) Price feed variances or erroneous spikes,
  • (g) Situations falling under Clause 8.7, including account restrictions or terminations.

18.12 In any dispute, the Company’s server logs shall be considered conclusive. In cases of conflict between client logs and server logs, the server logs will prevail.

18.13 While a complaint is under investigation, the Company may restrict modifications to affected orders or positions.

18.14 Where the Company deems corrective action necessary, it may:

  • (a) Adjust or reverse relevant trades,
  • (b) Offer full or partial relief requested by the client,
  • (c) Apply any resolution consistent with general market practice.

18.15 Unless otherwise required by law, decisions made by the Company in response to a complaint shall be final and binding.

18.16 If an issue arises that is not explicitly covered by this Agreement, both parties will endeavour to resolve it in good faith, in accordance with industry standards and fairness.

18.17 In the event of a settlement, the client agrees to:

  • (a) Waive any ongoing or future claims against the Company,
  • (b) Withdraw any negative public statements or publications, and
  • (c) Sign a Settlement Agreement. Failure to comply may result in cancellation of bonuses and potential legal action.

18.18 The Company reserves the right to initiate legal proceedings where complaints are based on false, misleading, or withheld information. Submitting fraudulent or malicious complaints may constitute a criminal offence and will be acted upon accordingly.

PART V – CLOSING PROVISIONS

19 Communication

19.1 You accept and understand that our official language is English and you should always read and refer to the main Website for all information and disclosures about the Company and its activities. Translation or information provided in languages other than English on our local Websites is for informational purposes only and do not bind us or have any legal effect whatsoever; we have no responsibility or liability regarding the correctness of the information therein. The English version of all information takes precedence. 

19.2 Unless the contrary is specifically provided, any notices, instructions, authorisations, requests, general enquiries or other communications and messages to be given by you to us under this Customer Agreement shall be in English and in writing and shall be sent to us at the contact details specified in Section 1.3. If your communication is sent by post, it must be posted by registered mail or a commercial courier service. 

19.3 We reserve the right to specify any other method of communication with you. 

19.4 We may monitor and/or record any electronic communications between us (including telephone calls, emails, text messages and instant messages), without the use of a tone or other warning, in order to provide verification of instructions and maintain the quality of our service, for training purposes and to check compliance with this Customer Agreement, our internal policies and procedures and applicable regulations. You accept that our records of our communications will be admissible as evidence of any instruction or communication given or received by you and that these records belong to us. 

19.5 Our phone lines are open during the hours of 9:00 and 22:00 (GMT+8) on business days. If we need to contact you urgently regarding your Account, we may contact you outside of these hours. You may use the online chat service for any enquires with our Customer Service desk outside of our official working hours. 

19.6 Notices will be emailed to you at the email address which is registered on your Account or sent by postal mail at the last address that you provided to us. It is your responsibility to ensure that you provide accurate and up-to-date contact information. 

19.7 Notices shall be considered delivered: if sent by facsimile, upon receipt by the sender of a transmission report from its facsimile machine confirming receipt of the message by recipient’s facsimile machine, or if delivered via commercial courier service, at the date of signing of the document on receipt of such notice and shall take effect only when actually received by the recipient, provided they do not violate and are not contrary to any term of this Customer Agreement. All notices issued by first class post shall be deemed to be received 7 business days after the date they were sent. Notices issued by airmail shall be deemed to be received 7 business days after the date of their dispatch.

20 Charges and Taxes

20.1 You acknowledge you understand that we derive our revenue as a fixed share of the spread regardless of whether you profit or lose deals from the counterparty through which we execute transactions. This fee/commission is related to the frequency/volume of transactions executed and/or other parameters. However, and as a safeguard for best execution, the Company shall not structure or charge their commissions in such a way as to unfairly discriminate between execution venues should more than one execution venue be available. For further details please refer to Section 11.23 and 18. Account maintenance fees are listed in Section 13.10. Since overnight commissions depend on several market parameters (such as, but not limited to, the financial instrument in question, interest rate, market volatility, etc.) the incurred fee may change. Please refer to the “Overnight Commission” page in our website for examples (https://www.TRAZE.COM.com/en/contract-specifications). 

20.2 You agree to pay our charges and applicable taxes (if any) at the rates and times set out on our Website. We may vary our charges periodically and publish them on our Website. It will remain solely your responsibility to review the relevant sections of our Website and stay informed about any changes in our charges. 

20.3 We may share dealing charges (commissions) with third parties, or receive compensation from them in respect to transactions carried out on your behalf. 

20.4 You undertake to pay all stamp expenses relating to the Customer Agreement and any documentation which may be required for becoming our Client or the carrying out of the transactions under the Customer Agreement. 

20.5 You shall be solely responsible for all filings, tax returns and reports on any Transactions which should be made to any relevant authority, whether governmental or otherwise and for payment of all taxes (including but not limited to any transfer or value added taxes), arising out of or in connection with any Transaction. 

20.6 Commissions for deposit and/or withdrawal of funds may be amended by us from time to time. It will remain solely your responsibility to review the relevant sections of our Website and stay informed about any changes in our charges. You will also be held liable for any charges made by any third party provider involved in the transfer process.

21 Information, Confidentiality, Data Protection and Privacy Policy

21.1 By visiting our website and using our services your agreement to this Policy is implied. 

21.2 We are bound by the data protection principles contained in the Data Protection

Act 2018 and the Privacy and Electronic Communications (EC Directive) Regulations 2003

21.3 This Policy will be reviewed periodically to take account of changes to our operations or practices and, further, to make sure it remains appropriate to any changes in law, technology and the business environment. 

21.4 You should check this page from time to time to ensure that you are happy with any changes. Any information held will be governed by our most current Policy

21.5 We may collect and process the following data about you:19

  • Information that you provide by filling in forms on our Website, including information provided when registering to open an Account, using our Website, subscribing to our services or posting material 
  • If you contact us or respond to surveys, we may keep a record of that correspondence 
  • Details of any orders or transactions (historic or otherwise) that you have carried out through our Website 
  • Details of your visits to our Website including, but not limited to, traffic data, location data, weblogs and other communication data, whether this is required for our own billing purposes or otherwise and the resources that you access 
  • Information about your computer, including IP address, operating system and browser type, for system administration and to report aggregate information to our advertisers. This data does not identify any individual

21.6 When you use our Website, we will use cookies to distinguish you from other users of our Website. This helps us to provide you with a more relevant and effective experience when you browse our Website, including presenting websites according to your needs or preferences and allows us to improve the site generally. 

21.7 We use information held about you in the following ways:

  • to ensure that the content in our website is presented to you in the most effective manner; 
  • to provide you with products and services that you request from us or, where you have consented to be contacted, for products and services that we feel may be of interest to you; 
  • managing and administering the products and services provided to you; 
  • keeping you updated as a client in relation to changes to our services and relevant matters; 
  • to carry out our obligations arising from any contracts entered into between you and us

21.8 We may also use your data, or permit selected third parties to use your data, to provide you with information about goods and services which may be of interest to you and we or they may contact you about these by email. 

21.9 Who we disclose the information to:

  •  Any member of our group of companies who provide financial and other services 
  • Potential successors in title to our business · third party consultants, contractors or other service providers who may access your personal information when providing services (including but not limited to IT support services) to us; 
  • introducing brokers with whom we have a mutual relationship (any of whom may be within or outside the European Economic Area); 
  • any organisation or person acting on your behalf to whom you request us to provide information, including your financial advisor, broker, solicitor or accountant;
  • third parties where it is necessary to process a transaction or provide services you have requested; 
  • to a Trade Repository or similar; 
  • credit providers, courts, tribunals and regulatory authorities in response to legal and regulatory requests, as agreed or authorised by law; 
  • auditors or contractors or other advisers auditing, assisting with or advising on any of our business purposes, in any jurisdiction where we operate; 
  • at your request or with your consent

22 Force Majeure

22.1 Except as expressly provided in this Customer Agreement, we will not be held liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing our obligations under this Customer Agreement where such failure, interruption or delay is due to:

  1. a) Government actions, the outbreak of war or hostilities, the threat of war, acts of terrorism, national emergency, riot, civil disturbance, sabotage, requisition, or any other international calamity or political crisis;
  2. b) Act of God, earthquake, hurricane, typhoon, flood, fire, epidemic or other natural disaster;
  3. c) Labour disputes not including disputes involving our workforce;
  4. d) Suspension of trading on a market, or the fixing of minimum or maximum prices for trading on a market, a regulatory ban on the activities of any party (unless we have caused that ban), decisions of state authorities, governing bodies of self-regulating organizations, decisions of governing bodies of organized trading platforms;
  5. e) A financial services moratorium having been declared by appropriate regulatory authorities or any other acts or regulations of any regulatory, governmental, or supranational body or authority;
  6. f) Breakdown, failure or malfunction of any electronic equipment, network and communication lines (not due to the bad faith or willful default of ourselves), hacker attacks and other illegal actions against our server and Online Trading System; or
  7. g) Any event, act or circumstances not reasonably within our control and the effect of that event(s) is such that we are not in a position to take any reasonable action to cure the default. 

22.2 In the event of a force majeure, the affected Party must notify the other Party of the circumstances and of the events beyond its reasonable control within 3 business days. 

22.3 In the event of a force majeure, we may suspend, freeze, or close your positions.

23 Term and Termination

23.1 This Customer Agreement shall be valid for an indefinite time period until its termination as per the provisions of Section 23 stated herein. 

23.2 We may terminate this Customer Agreement immediately upon the occurrence of any of the events set out below:

  1. a) You fail to comply with any requirement relating to the transfer of an open investment position, 
  2. b) You do not have the authority to transact business with us or to do so in the manner in which you customarily conduct business with us, 
  3. c) If you become deceased, declared absent or become of unsound mind, 
  4. d) Such termination is required by any competent regulatory authority or body, 
  5. e) You violate any provision of the Customer Agreement, and in our opinion, the Customer Agreement cannot be implemented, 
  6. f) If you fail to make any payment or fail to perform any other act required by the Customer Agreement, 
  7. g) We receive reliable information that an adverse material change in your financial condition has occurred or that you may be unable to perform your obligations under the Customer Agreement or you do not give to us adequate assurance of your ability to perform your obligations within 24 hours after receipt of the relevant request from us, 
  8. h) If an application is filed in respect to you for any action pursuant to any bankruptcy acts or any equivalent act, including those of another country, which are applicable to you or if a partnership, to one or more of the partners, or a company, a trustee, administrative receiver or similar officer is appointed, 
  9. i) If an Order is made or a resolution is passed for your winding-up or administration (other than for the purposes of amalgamation or reconstruction), 
  10. j) If any distress, execution or other process is levied against any property that you own and is not removed, discharged or paid within 7 days, 
  11. k) If any security created by any mortgage or charge becomes enforceable against you and the mortgagee or chargee (i.e. lender) takes steps to enforce the security or charge, 
  12. l) If any indebtedness of you or any of your subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of your default (or any of your subsidiaries) or you (or any of your subsidiaries) fail to discharge any indebtedness on its due date.
  13. m) You convene a meeting for the purpose of making or proposing or entering into any arrangement or composition for the benefit of your creditors, 
  14. n) If any of the representations or warranties given by you are/or become untrue, 
  15. o) In cases of material violation by you of the requirements established by any legislation, 
  16. p) If scalping or any other unauthorised trading activity is performed on the Online Trading System, whether automated or manual. In this case, all of the unauthorised Transactions will be voided and cancelled, or
  17. q) If you are classified as a Politically Exposed Person (PEP) or fail to provide adequate documentation with regards to the Know-Your-Client and Anti-Money-Laundering regulations which the Company is required to follow. 
  18. r) The Company maintains a strict policy of limiting accounts to 1 per person, family, household address, email address, telephone number, same payment account details (e.g. debit or credit card, Neteller, etc) and shared computer, e.g. in a public library or workplace. Duplicate registrations by the same Client are strictly forbidden and all Transactions performed by all duplicate accounts will be voided and cancelled and all profits generated will be debited. 
  19. s) The company maintains a zero-tolerance policy for abusive trading strategies, fraudulent activities, manipulation, chargebacks or any other scams. Such activities include, but are not limited to, misuse of deposited and promotional/bonus funds, swap arbitrage, bonus arbitrage, cash-backs, internal or external hedging, the use of any automated trading system and/or software (“trading robots,” “expert advisors,” etc.). If we deem there to be any such activities in relation to the Client’s trading account, we reserve the right to annul and cancel any or all of your past Transactions and debit all generated profits.
  20. t) Accounts meeting all of the following criteria will be closed:

(i) Following account opening, no trades have been placed within a 6 months period.

(ii) No financial transactions were made during this period, including direct deposits as well as direct withdrawals.

(iii) The account has no open position at the time of account closure.

(iv) The client has not logged in for 6 consecutive months, this condition covers the usage of MT4 and mobile applications.

  1. u) Demo accounts may be terminated if it had been inactive for 30 consecutive days immediately prior to the date of termination.

23.3 This Customer Agreement may be terminated by either the Client or the Company at any time by sending a written notice. As a result of the termination of this Customer Agreement, the Client’s Account will be closed. 

23.4 Your termination of this Customer Agreement will not affect any obligation or liability that you may then have to us, including any liability or short position you may have resulting from or in connection with transactions initiated prior to the termination. Subject to Section 24 herein, we will complete Transactions which are in progress at termination as soon as reasonably possible. 

23.5 If any of the incidents described in Section 23.2 occurs, then we may at our sole discretion at any time and without notice to you, take any 1 or more of the following actions:

  1. a) Terminate this Customer Agreement;
  2. b) On your behalf and in your name, suspend, freeze or close out all or any of your open investment positions;
  3. c) Convert any currency;
  4. d) Apply any of your cash and the proceeds of any Transaction in satisfaction of the amount owed to the Company, including amounts due in respect of settlement, fees, commissions and/or interest;
  5. e) Keep such Client’s funds as necessary in order to close positions which have already been opened and/or pay any pending obligations you have, including, but not limited to, the payment of any amount which you owe to the Company under the Customer Agreement; or
  6. f) Close your Account;
  7. g) Void or cancel any or all your past Transactions and debit all generated profits.

23.6 We reserve the right to combine any accounts opened in your name, to consolidate the balances in such accounts and to set off those balances. 

23.7 If there is a balance in your favour, we will (after withholding such amounts that we in our sole discretion consider appropriate in respect of future liabilities) pay such balance to you as soon as reasonably possible and supply you with a statement showing how that balance was calculated and, where appropriate, instruct any Nominee or/and any custodian to also pay any applicable amounts. Such funds shall be delivered in accordance to your instructions, but we have the right to refuse the transfer of your funds to a third party.

 

  1. Applicable Governing Law and Jurisdiction

24.1 This Customer Agreement is issued by Traze (Pty) Ltd, a South African intermediary authorised under FSP Number 48248, and facilitates access to trading services provided by Zeal Capital Market (Seychelles) Limited, which operates under the registered trade name Traze.

24.2 For matters relating to the intermediary services rendered by Traze (Pty) Ltd in South Africa, the laws of the Republic of South Africa shall apply, and any unresolved disputes arising under the FAIS Act may be referred to the FAIS Ombud as described in Section 18.

24.3 All trading-related services and transactions executed on the platform are governed by the laws of Seychelles and shall be subject to the jurisdiction of Seychellois courts or arbitration tribunals, where applicable. If a settlement is not reached as per the complaints procedure described in Section 18, any dispute arising in connection with trading services shall be finally settled by arbitration in Seychelles, under the applicable rules of international commercial arbitration.

24.4 The Company and its affiliates shall be entitled to implement any measures deemed necessary to comply with laws, regulations, or licensing obligations in either South Africa or Seychelles, and such measures shall be binding on the client.

  1. Third Parties

25.1 The Company may at any time assign, transfer, or novate its rights and obligations under this Agreement to another member of its group or to any third party, provided that reasonable prior notice is given to the client, where required by law or regulation.

25.2 You may not assign, transfer, or otherwise dispose of any rights or obligations under this Agreement without the prior written consent of the Company.

25.3 You acknowledge that the Company may utilise the services of independent third parties or payment service providers for the purpose of receiving or transmitting funds. These third parties act strictly as facilitators of payment and not as financial service providers. You agree that once funds have been remitted as per your instructions, no claim may be brought against the intermediary or payment facilitator in respect of such funds.

25.4 You understand that any payment service provider involved in the transaction process is not offering regulated financial services. You agree not to use such entities for investment or financial service purposes and confirm that once your funds are received or settled, you waive any future claim against such third parties.

25.5 You acknowledge that investment-related information provided by the Company or its platform may originate from third-party content providers and may not represent independent research conducted by the Company. While reasonable efforts are made to ensure the quality of such information, the Company cannot guarantee the regulatory standing or diligence of third-party research providers. The Company is not liable for any loss or damage resulting from reliance on such external research or market commentary.

25.6 You acknowledge that if you assign discretionary authority or rights to third parties, such as money managers, trading robots, signal providers, or similar services, this is done at your sole risk. The Company shall continue to provide its services to you as described in Section 3 and shall not be held liable for the decisions or actions taken by any third party to whom you delegate authority. No such delegation shall be deemed as endorsed by or affiliated with the Company.

26 Refund Policy

26.1 The Client has the right to close his/her account at any time he/she wishes to. The Company will approve the account closure if:

  1. No active investments are placed. 
  2. There are no investigations underway associated with any of the terms of the current Terms of Services. 

26.2 If there are no charges applied to the account, the Company has to close the account by the Client’s demand. 

26.3 If the account of the Client has been suspended due to the violation of the current Terms of Services or due to any other abuse detected by the Client, the refund is not provided under any circumstances. 

26.4 The Company does not have to provide any refund in case the loss was caused due to any reason either foreseen or unforeseen. 

26.5 A refund request can be made in cases in which the account had been deposited into, but no orders were executed by the client. 

26.6 In this case, the same method of payment used for the deposit will be used for the refund. The refund will be for the full amount, unless other arrangements have been made.

26.7 Processing of refund requests can take up to one week. 

26.8 All other requests will be treated as WITHDRAWALS and will be processed using those methods, terms and procedures.

 

PART VI – DEFINITIONS AND INTERPRETATIONS

In this Customer Agreement, the following words shall have the corresponding meanings:

Access Codes: Your login and password given to you by us in order to have access on our Trading System or Website (where applicable).

Access Data: Your Access Codes, your Account number and any information required to place Orders with us in any way.

Account: Any transaction account which is opened for you on our records to allow you trade in Financial Instruments as defined below.

Applicable Regulations: (a) The rules of the relevant market; and (b) all other applicable laws, rules and regulations which are in force in any jurisdiction.

Application Form: The application form completed by you to apply for our Services (through which we will obtain any necessary information for your identification, due diligence and your categorisation in accordance with the laws).

Balance: The total sum of your Account after the last transaction made within any period of time.

Base currency: The first currency in the currency pair.

Bonus Terms: The conditions as advertised in marketing campaigns that must be fulfilled in order to receive the bonus incentive and in accordance with Section 8 of this Customer Agreement to qualify for a payout of such incentive.

Business Day: Any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January.

CFD: A spot and/or forward Contract for Difference on the following underlying assets: Currencies (Spot FOREX), Metals, Commodities, Futures, Options, Forwards, Stocks, Indices.

Customer Agreement: This Agreement between the Company and the Client which also includes the following documents on our Website: (a) Costs and Fees, (b) Contract Specifications, (c) General Risk Disclosure.

Client Money Rules: The rules relating to Client money as defined by our Regulator.

Contract Specifications: Each lot size or each type of Underlying Asset in a Financial Instrument, as well as all necessary trading information concerning spreads, swaps, margin requirements etc., as determined by the Company on our Website.

Currency of the Account: The currency that you choose when opening an Account with us or that you request to convert into after the Account is opened.

Currency Pair: Consists of 2 currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase 1 unit of the Base Currency.

Debit Card Issuer: The Company shall act as an agent when enabling the Client to enter into business terms with the issuer of the Debit Card.

Financial Instrument(s): CFDs, NDFs and Rolling Spot.

Floating Spread: A floating spread is a constantly changing value between the ask and bid prices. Floating spreads vary throughout the day, depending on market volatility and available liquidity.

Liquidity Providers: The Company shall act as agent of the Client (principal) when receiving and transmitting Orders. The Company will transmit your Orders for execution to another broker(s), and such broker(s) may transmit the orders received by us to other liquidity providers. These broker(s) may not necessarily operate in a regulated market.

Leverage: A ratio in respect of a Transaction size and initial margin. A 200:1 ratio means that in order to open a position, the initial margin is 200 times less than the transaction size.

Login Details: Your login and password given to you by us in order to access our Online Trading System or website (where applicable).

Margin: The necessary guaranteed funds to open positions or to maintain open positions, as determined in the Contract Specifications for each underlying asset in a financial instrument.

NDFs: Non-Deliverable Forwards. This has the same meaning as CFDs.

Nominee: Any company that we may appoint our Nominee as a member of our group whose principal function is to hold funds acquired by our Clients.

Trading System: Any software used by us which includes the aggregate of our computer devices, software, databases, telecommunication hardware, a trading platform, making it possible for you to obtain information of markets in real-time, make technical analysis on the markets, enter into transactions, place, modify, or delete orders, receive notices from us and keep records of transactions.

Open Position: A deal of purchase or sale not yet covered by the opposite sale/ purchase of the contract.

Order: An instruction by you to us in Financial Instruments, which are available for transaction on our Trading Platform.

Overnight Commissions: The fee added or deducted for holding a position open overnight.

Parties: The parties to this Customer Agreement – the Client (you) and the Company (us).

Pending order: Order to buy or sell a financial instrument at a price different from the market price.

Quote: The information of the currency price for a specific Underlying Asset of a Financial Instrument, in the form of bid and ask prices.

Quote Currency: The second currency in the currency pair.

Rolling Spot: Has the same meaning as CFDs.

Rules: Laws, articles, regulations, directives, procedures and customs which are in force.

Scalping: The opening and closing of a position within seconds. We have a 1-minute minimum time interval between opening and closing trades.

Services: The services provided by us under this Customer Agreement as specified in Section 3.

Slippage: This term refers to the difference between the expected price and the price at which the trade is actually executed.

Spread: The difference between the ask and the bid prices of an underlying asset in a financial instrument at that same moment.

Stop Loss: An offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is lower than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is higher than the opening transaction price.

Stop Out: Situation when we execute the right to close all your open positions at current market price or the last available price and your equity divided by balance falls below the stop out level specified for your account type.

Swap Rates: The rate of the fixed portion of a swap, at which the swap will occur for one of the parties entering into a financial instrument.

Take Profit: An offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is higher than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is lower than the opening transaction price.

Transaction: Any dealing in a financial instrument.

Underlying Asset: Forward and/or futures contracts on Currencies (Spot FOREX), Metal, Commodities, Futures, Options, Forwards, Stocks, Indices.

We (our, us): The Company. TRAZE.COM is a globally-operated brand and includes any of our affiliated companies.

Website: www.TRAZE.com or any other Website of the Company’s trade names, which we may notify you about.

You: The Client(s) who is (are) the holder(s) of the Account.

Your Information: Any information that we receive from you or otherwise obtain which relates to you, your Account or our provision or your use of the Services. 

 

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