This is a summary of some of the important information between you and Eone General Trading Pte Ltd. (“Eonefx”). In this document, Eonefx is referred to below as “we,” “us,” or “our.”
1. About Us
Eonefx is registered with Accounting and Corporate Regulatory Authority (ACRA). We are here to execute your trading instructions; we do not provide advice or recommendations. All trades and investment decisions on your account are made by you. Our platform executes trading instructions on a wide range of products (FX, Commodities, Equities, Indices, and Treasuries) through the use of contracts for difference (CFDs). We offer margin accounts to retail clients.
Investing in CFDs or other financial derivatives products carries a high level of risk to your capital. The prices of CFDs and forex may change to your disadvantage very quickly. It is possible to lose more than any initial investment and you may be required to make further payments. These products may not be appropriate for all investors. Therefore, you should ensure you understand the risks involved and seek independent advice if necessary.
2. Important Client Information
Obtaining and maintaining correct Know-Your-Client (KYC) information on you is a regulatory requirement. We also have a responsibility to demonstrate to our regulators that the high-risk nature of CFD trading is consistent with your financial status, trading experience and investment knowledge. To accomplish this, we will need to collect information from you, including but not limited to, information required to:
- verify your identity;
- assess your financial circumstances (including details of your employment, annual salary and net worth) and your trading knowledge and experience;
- ascertain whether you are a politically exposed person;
- ascertain, if you are opening a corporate account, the nature of the business and specifics of any holdings and the identities of any individual
- confirm that the opening of a CFD account is suitable based on the information provided. For the avoidance of doubt, as an execution-only dealer once your account is opened, we are not required (and do not) assess whether or not each individual trade is suitable for you.
If, at any time in the future, you make any changes that could affect (in particular) your income, investment objectives, risk tolerance, net worth or regulatory obligations, please let us know so we can ensure that the information we have on you is up to date. When Eonefx becomes aware of a material change to your KYC information, we are required to demonstrate to our regulators that your account is still appropriate based on the revised information.
At a minimum, Eonefx will request that you confirm the information you have provided to us on an annual basis. If you do not respond to our request for confirmation your account may be restricted from opening new positions.
Our representatives are trained to provide you with the support you need to manage your investment account but will not provide you with any investment advice. We encourage you, where appropriate, to seek independent advice from appropriately qualified professionals.
3. Risks of Trading CFDs and Forex
Our CFDs and forex can carry a high risk to your capital as prices may move rapidly against you. You can lose more than any initial investment and you may be required to make further payments. Please note that the higher the leverage, the higher the risks involved. You should not enter into trades with us unless you fully understand the risks involved. If you are in any doubt, you should seek independent professional advice.
This document cannot and does not disclose or explain all of the risks and other significant aspects involved in trading in CFDs and other financial derivative products. You should take sufficient time to read all the relevant information that we provide to you, including our Privacy Policy, our Terms Of Use, our Relationship Disclosure Document, our Deposit Withdrawal Policy our and the information on our website and platform. In light of the risks, you should undertake to trade CFDs and forex only if you understand the nature of the product and contractual relationships into which you are entering and the extent of your exposure to risk.
In addition to the above, when clients open an account with Eonefx,the client has to agree the Eonefx’ Relationship Disclosure Document, our Deposit Withdrawal Policy and the information on our website and platform.
4. Trading Risks
(A) Volatility
You should be aware that prices can move quickly particularly at times of high market volatility. These risks could arise in or outside normal business hours, and can result in the balance of your account changing rapidly. If you do not have sufficient funds in your account to cover these situations, there is a risk that your positions will be automatically closed if the balance of your account falls below the close-out level.
(B) Currency
If you trade in a market other than your base currency market, currency exchange fluctuations will impact your profits and losses.
(C) Market Liquidity
The price by Eone General Trading Pte.Ltd, similar to the underlying market, is usually good, up to a certain size. In order to maintain additional liquidity to the market, we may apply a different spread to the price. Some markets which are quoted by us are done so outside of normal market hours.In these situations, while every effort is made to keep prices and spreads consistent, this may not always be possible during particular volatile periods or during periods of illiquidity in corresponding markets.
(D)Suspensions of Trading
This may occur, for example, at times of rapid price movements if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted. Placing a stop-loss order will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price.
(D) Margin Calls & Close outs
In the case that the Margin Level in your trading account is below 100%, you will see a margin call on your trading platform and you will not be able to increase your overall exposure. If your Margin Level falls below 30%, the trading system will automatically start closing out your open positions. This is to reduce (but not eliminate) the risk of you being liable for more than you have invested. It is strongly advised that clients should maintain sufficient margin in the client account to avoid being closed out as well as using limit/stop orders.
(E) Quoted prices
You should note that all prices quoted on the platform or the website are indicative only, and constitute an invitation to trade. Upon you agreeing to enter into a transaction, an executable price may or may not differ from the quoted price. Although the quoted prices are in normal market conditions very similar to the executed prices, the executed prices may vary if the market has moved (even in a split second) since you have requested a quote.
5. Expert Advisors & Indicators
You accept that you take sole responsibility for any third-party applications that you may install either directly or indirectly on your MetaTrader platform, and also the use of any software provided on MT5 when downloaded. These may include robotic trading tools, known as Expert Advisors (“EAs”), which can be set up to automatically trade on a client’s account or indicators which allegedly show beneficial times to trade. It is your sole responsibility to do due diligence on the respective software and then decide if you are willing to take the risk of installing and using it on your trading account. Eonefx is not responsible in any capacity for decisions, trades or signals generated by the use of EA’s or indicators or your use of them or with for the resulting profits or losses generated by them. Some EA’s may generate a high number of trades and at times leverage a client to their maximum possible exposure to a market given their available funds. It is your sole responsibility to monitor these trades and/or orders and the profit and loss generated by them, as it is at all times on your account.
6. Conflicts of Interest
In the event that Eonefx enters into future business relationships that may be perceived to compromise the independence of our client service or supervision of accounts, clients will be advised of the specifics of the potential conflict in accordance with our Conflicts of Interest Disclosure.
A copy of Eonefx’ Conflicts of Interest Disclosure is provided to you prior to you opening an account with us. It is also available on our website. We highly recommend that you read it before opening an account with us. If we have opened your account pursuant to a referral arrangement, we will provide you with the prescribed regulatory disclosure regarding the compensation structure paid to the referring agent.
7. Fee Structure
For a full disclosure of our entire current fee structure including all of the costs you will pay in making, holding and selling investments, please consult the fees section of our website. If you have any concerns or issues with this information, please contact us before opening your account so that we can help clarify our fee structure.
8. Tax
We do not provide tax advice and if you are in any doubt as to your tax obligations, you should seek independent advice.
9. Reporting
We will report to you about your account on an ongoing basis by providing trade confirmations and account statements. Trade confirmations: We will always deliver a confirmation for every trade opened or closed on your account, within two business days of the executed transaction. Trade confirmations are incorporated in the daily account statements, which are accessible on the trading platform. You can also elect to have the statements delivered to your email address. The trade confirmation will contain details about the trade including:
- the quantity and description of the trade;
- the consideration paid for the trade; and
- the commission paid, if any, in respect of the trade.
10. Complaint Resolution
Eonefx has a comprehensive complaint resolution process designed to ensure that any disputes that may arise between our clients and our employees or firm are investigated thoroughly and objectively, and addressed in a timely manner. A copy of Eonefx’ Client Complaint and Dispute Resolution Disclosure, which contains our complaint handling process, is provided to you prior to you opening an account with us. It is also available on our website. At any time, you can contact us by telephone or e-mail to discuss the complaint process and your options.
11. Contact Us
If you require any further information relating to your investments, account or any other matter of concern to you in your investment relationship with us, contact us at support@eonefx.com.