Last updated: TBC — set the date this document takes effect.
DRAFT. The structure and standard clauses are correct, but every [BRACKETED] item is a decision you must make, and the whole document needs review by a lawyer qualified in the jurisdiction of your operating entity before publication.
1. The parties
This agreement is between you (“you”, “the Client”) and [VELTON OPERATING ENTITY], a company incorporated in [COUNTRY] under registration number [NUMBER], with its registered office at [ADDRESS], trading as Velton Markets (“we”, “us”, “the Company”).
Velton Markets operates through more than one entity. Which entity contracts with you, and what each entity is and is not authorised to do, is set out on our group entities page. Read it before you open an account, particularly if you are resident in Nigeria.
2. Scope of this agreement
This agreement takes effect when you accept it during account opening. It applies alongside:
- The trading terms and rules, which set out account types, leverage, margin, prohibited practices and funding;
- The risk disclosure;
- The AML and CFT policy;
- The privacy policy and cookie policy.
Where this agreement and another document conflict, this agreement prevails unless the other document says otherwise.
3. Eligibility
You may open an account only if all of the following are true.
- You are at least [MINIMUM AGE] years old and have legal capacity to enter this agreement.
- You are not resident in, or a citizen of, a territory on our restricted territories list.
- You are acting on your own behalf, not for an undisclosed third party.
- The funds you deposit are lawfully yours and are not the proceeds of crime.
- You are not subject to any applicable sanctions regime.
You must tell us promptly if any of these stop being true.
4. Account opening and verification
You must complete identity verification before you may withdraw funds. We may ask for proof of identity, proof of address, proof that a payment instrument belongs to you, and proof of source of funds, at onboarding or at any later point. We may restrict account activity until we receive what we have asked for. Our verification tiers and the documents each requires are set out in the AML and CFT policy.
You are responsible for the accuracy of the information you give us and for keeping it up to date. You are responsible for your login credentials and for all activity on your account. Tell us immediately at help@veltonmarkets.com if you believe someone else has obtained access.
5. Services we provide
We provide an online platform through which you may trade contracts for difference on foreign exchange, metals, indices and commodities. When you trade a CFD you do not own, and acquire no right to, the underlying instrument.
We provide execution only. We do not give investment advice, portfolio management or personal recommendations. Market commentary, educational material, tools and anything said to you by our staff or by a partner of ours is general information, not advice, and does not take account of your circumstances. If you need advice, take it from an independent qualified adviser.
6. Orders and execution
We act as counterparty to your trades. Prices we quote include a spread relative to the price we may receive from our own liquidity sources.
- An order is accepted when it is received and executed on our servers, not when you press the button.
- Under fast or illiquid market conditions your order may be filled at a materially different price from the one displayed, or may not be executable at all.
- A stop-loss order becomes a market order when triggered and is not guaranteed to fill at your stated price.
- We may decline, cancel or reverse an order, or void a trade, where it resulted from a manifest pricing error, a technical fault, or conduct prohibited under the trading terms.
7. Deposits and withdrawals
Deposits and withdrawals are processed by third-party payment partners, not by us directly. Their processing times, limits and any fees are outside our control, and we are not liable for delays or failures caused by a payment partner, a bank, or a blockchain network.
Third-party funding is not permitted. Funds must come from, and be returned to, an account or wallet in your own name. We will reject or reverse any deposit that does not satisfy this, and the cost of doing so may be deducted from the returned amount.
Full funding terms, including minimum deposits and the methods we accept, are in the trading terms.
8. Costs and charges
Spreads, commission, swap treatment and any account fees are published on our website and form part of this agreement. Before you trade, you are responsible for understanding what those costs mean in money terms for the size and frequency of trading you intend. Where a cost is expressed as a spread rather than a fee, ask us for a worked example if that is clearer.
You are responsible for any tax or duty arising from your trading. We do not give tax advice and do not warrant that no tax is payable.
9. Client conduct
The trading terms set out in full what is and is not permitted, including our prohibition on high-frequency and automated trading, latency and feed arbitrage, coordinated multi-account activity, and exploitation of technical errors. Breach may result in trades being voided, profits being forfeited and the account being closed, as described in that document.
10. Communication and records
We communicate in English, by email to your registered address and by notice on the platform or website. It is your responsibility to keep your email address current and to read what we send. We may record telephone and electronic communications and keep them as evidence of instructions given.
11. Liability
[LIABILITY — this clause must be drafted for your jurisdiction. Limitation and exclusion wording that is enforceable in one country is void in another, and consumer-protection rules may override it entirely. Do not copy this clause from another broker; their wording is drafted against their own governing law.]
Subject to that clause, we are not responsible for losses arising from events outside our reasonable control, including internet or power failure, platform outage, the acts of a payment partner or liquidity provider, or government or regulatory action.
12. Suspension and termination
You may close your account at any time by writing to us, once open positions are closed and any amount owing is settled. We may suspend or close your account:
- where you breach this agreement or the trading terms;
- where verification is incomplete or information we have requested is not provided;
- where we are required to do so by law, by a regulator, or by our AML obligations;
- on [NOTICE PERIOD] written notice for any other reason.
On closure we return the remaining balance to you, subject to verification and to any forfeiture that applies under the trading terms.
13. Complaints
Our complaints procedure explains how to raise a complaint, the timescale at each stage, and how to escalate if you are not satisfied.
14. Changes
We may amend this agreement. Where a change materially affects your rights we will give you [NOTICE PERIOD] notice by email before it takes effect. Continuing to use your account after that date means you accept the change. Changes required by law or by a regulator may take effect immediately.
15. Governing law
[GOVERNING LAW — state the law governing this agreement and the courts with jurisdiction. This must match the country of registration of the contracting entity named in clause 1.]
Contact
Questions about this document? Email help@veltonmarkets.com or see our contact page.