1.1. Ever Financial AD is authorized and regulated under MiFID by FSC Bulgaria /RG 03-0008/ 26.05.2009/. The Company is registered in the Commercial register in the Registry Agency with UIC 831649724 and registered address: 1303 Stamboliiski Blvd, Sofia, Bulgaria.
1.2. This document constitutes an agreement between Ever Financial AD (hereinafter referred to as “the Company”, “the Company”, “We”, “Us”) and You (hereinafter referred to as “You” or “the Client”), which determines our services for trading on the financial markets and all transactions that we conclude with the client. The above agreement consists of the following documents:
a) Live Money Account Application – an online form on our website or mobile web applications;
b) This agreement for transactions with clients through an electronic trading platform;
c) General terms and conditions applicable to contracts with clients
d) Trading Instrument Tables, which provide the commercial details for each financial Instrument, including market hours, margin factors, commissions, fees and other requirements for dealing in each market. This information is available on our website or the platform;
e) Order Execution Policy;
f) Risk Disclosure Notice;
g) Privacy Policy;
i) Customer categorization rules;
j) Tariff for costs, fees and commissions
k) Remuneration policy;
l) Complaints handling policy;
m) Policy for the Treatment of Conflicts of Interest of Investment Intermediary (II) Ever Financial AD;
n) Information on Costs and Associated Charges Incurred by Clients of Ever Financial AD Trading in Contracts for Differences on an Over-the-Counter Market;
o) This Information on Financial Instruments That are Subject to the Investment Services Provided by Ever Financial AD and Associated Risks;
p) Information on Investment Intermediary Ever Financial AD and Its Services, Intended for Clients and Potential Clients;
q) Information on the Protection of Financial Instruments and Funds of the Clients of Ever Financial AD Trading in Contracts for Differences on an Over-the-Counter Market;
1.3. Any amendment to the General Terms and Conditions and / or the Tariff, as well as information on the date of their adoption and the date of entry into force will be published in a timely manner on our website. The publication of the General Terms and Conditions shall take place not less than one month before the entry into force of the amendments. The publication of the Tariff is carried out not less than thirty days before the entry into force of the changes. By signing this contract, the Client agrees to all due information under Art. 71 of MFIA to be provided to him through the company’s website.
1.4. Together, the above documents constitute the “Agreement” and are published on our website: www.fxmeridian.com,
1.5. Nothing in this Agreement excludes or limits our liability to you under applicable applicable law. In the event of any conflict between the Agreement and the applicable regulatory requirements, the latter shall prevail.
1.6. It is in your interest to read the Agreement carefully and to discuss any questions or ambiguities with us. By signing the application for a real account or by electronically submitting your application on our website or through a mobile web application, you confirm that you accept the terms of the Agreement. From the moment of opening your account with us, you are bound by all the terms of the Agreement. Some information materials on our website are only in English and you agree that this is not a problem for you and you understand English at a good enough level.
1.7. Main Terminology:
In this Agreement certain words and expressions have the meanings set out below:
“Website – Our website www.fxmeridian.com, including our trading platform through which the client can trade online;
“Electronic Trading Platform” – the trading platform through which the client can trade online, which is on the website: www.fxmeridian.com, or through our mobile web application.
“Account” means an account opened in your name with us, which gives you access to the trading platform and allows you to trade currency pairs, stocks, futures on indices and commodities. This account is being used by you. Entries shall be made on this account only upon performance of the subject of this Agreement;
“Client” is a natural or legal person or organization that has opened an account with us and accepts this Agreement. Clients can be professional, non-professional and acceptable counterparties, defined as such according to the applicable regulatory requirements and the criteria set out in our Policy for identifying clients as professional / non-professional and an acceptable counterparty, which is at your disposal on our website.
“Currency pair” – means an instrument for trading in foreign exchange markets. The currency pair represents the ratio in which two currencies are traded, for example EUR / USD. Transactions with currency pairs are without real delivery of currency.
“Contract for difference” (or CFD) – has the meaning specified in item 10.1. of this contract.
“GTC” (“Good until Canceled”) – means that the order will remain in force until one of the following conditions is met: a) is fulfilled, b) you cancel it, c) the relevant position expires, or d) You manually close the corresponding position;
“Trading Time” means the time range for trading on the financial markets, which is listed on the website www.fxmeridian.com, . During trading time, the client has the right to place execution orders for those financial instruments whose markets are open;
‘Minimum deposit’ means the minimum amount to be deposited by a customer, namely: BGN 200, USD 100, GBP 100, EUR 100 or CHF 100;
“Total funds” (or availability) – means all funds of the client, deposited with us under this Agreement;
“Free funds” – means all the client’s funds that are not blocked as a guarantee for open positions and loss reduction orders (“Stop” orders). Free funds can be withdrawn or invested;
“Expiry date” – the date on which the rights and obligations of the country to the financial instrument expire;
“Guarantee amount” (margin) – has the meaning set forth in clause 5.1 of this contract;
“Order” – means an order for purchase or sale submitted by the customer through the electronic trading platform of www.fxmeridian.com, or through our mobile web application;
“Minimum order” – means the minimum size of units of the respective financial instrument for which the Company offers quotations. The minimum order amount for the purchase and sale of foreign currency and contracts for difference (CFD) is specified on the website www.fxmeridian.com, or on our mobile web application;
“Index” – means a contract for difference for an exchange traded stock index;
“Futures” means a contract for difference based on a futures contract for the supply of raw materials or financial instruments. Each futures contract expires on a certain future date.
“Long position” – represents the purchase of a financial instrument by the client;
“Short position” – represents the sale of a financial instrument by the client;
“Share” – is a share of a public company registered for trading on a foreign exchange, on which a share is based the contract of difference (CFD);
“Rollover table” – is a table located on the website or on our mobile web application, which shows the schedules with the expiration dates of all futures contracts;
Lot – Typically, in the financial markets, one lot of a traded instrument equals USD 100,000 or the equivalent of USD 100,000 in another currency;
“Market days” – the days from Monday to Friday, when they are working for the market.
‘Manifest error’ means a manifest error in the quotation of financial instruments which deviates significantly from the total market price and which has arisen as a result of a systemic or technical error.
“Scalping” means a speculative type of trading in which a position is opened and closed in a very short period of time (such as five minutes or less);
2.1. The Client hereby assigns, and the company undertakes under the conditions of this Agreement to receive and execute orders for transaction with contracts for difference (CFD) via the electronic trading platform on the website www.fxmeridian.com, or our mobile web application, at the Client’s expense and risk.
2.2. Based on the regulatory requirements and criteria, the Company classifies the client as “non-professional”. As a “non-professional client”, you will have the highest level of regulatory protection, incl. as you are entitled to compensation from the Investor Compensation Fund in the event that in the statutory cases we are unable to fulfill our obligations.
2.3. All transactions under the subject matter of this Agreement shall be concluded via the Client’s Account with the company.
2.4. Each transaction shall be concluded only at the Client’s discretion and order and shall be entirely at the Client’s expense and risk. The company shall not and did not provide any advice to the Client and shall not be liable for the Client’s investment decisions. The services offered by the Company are not suitable for everyone. Trading with CFDs entails a high level of financial risk. The Client may lose all the money in their account.
3.1. The services provided by the company to the Client according to the subject matter of this Agreement are to receive and execute orders for:
a) Trading with CFDs on currency pairs;
b) Trading with CFDs on stocks;
c) Trading with CFDs on index futures;
d) Trading with CFDs on commodity futures.
3.2. The company shall open an Account in the name of the Client in Bulgarian lev (BGN), euros (EUR), US dollars (USD), British pounds (GBP) or Swiss franc (CHF). This Agreement shall take effect after a minimum deposit is received at the company, which may not be less than 200 BGN, USD 100, GBP 100, EUR 100 or CHF 100.
3.3. The Client shall make a profit or incur a loss as a result of the transactions concluded by the Client under item3.1. All profits and losses shall be re-calculated immediately into the currency in which the Account under item 3.2 was opened.
3.4. The Client declares that they shall place all orders for transactions in their own name and at their own expense.
3.5. The order shall only be deemed placed by the Client as soon as the company confirms its receipt via the electronic trading platform or by telephone, in accordance with the legal requirements.
4.1. The Client shall have the right to receive quotes during the market hours. The Client has the right to submit orders in the electronic trading platform during the trading time on the markets and to receive confirmations for the concluded transactions, as well as a statement for the status of his account in the electronic trading platform.
4.2. The company has the right at its discretion to:
a. change the requirements for applicable margin, interest rate swaps, commissions, minimum and maximum trading amounts, trading time, minimum and maximum number of units of each financial instruments and etc.;
b. to introduce new financial instruments for trading on the trading platform and to suspend and / or remove from the electronic trading platform any financial instrument at its discretion.
4.3. The company provides the client with information through the electronic trading platform on charts, current information on the status of an instrument or its relevant trading market, economic calendar, news, analysis, training materials, market sentiment, technical indicators and any similar information. The client is explicitly informed that the provision of the information under the previous sentence is not a recommendation or advice for concluding / not concluding transactions.
4.4. The Client shall be obliged to monitor their open positions solely. The client declares that he is aware that there is a risk of incurring losses from trading up to the amount of funds available in his account. The Client agrees that the burden of determining whether a transaction is appropriate for him falls solely on him and the Client relies solely on its own judgment in deciding whether to enter into or refrain from concluding a transaction or in deciding how to to avoid a loss or to make a profit.
4.5. The company shall provide to the Client on a daily basis, via the electronic trading platform a statement and a confirmation of their transactions, as well as an account balance and a record of all transactions for the Client’s Account. The Client shall be obliged to check, on a daily basis, the electronic statements received, and to notify the company in case of any discrepancy.
4.6. The Client declares that he has agreed that all orders given by them by telephone shall be recorded by the company and later played back in case of disputes between the Parties.
4.7. All transactions under this Agreement that refer to instruments traded on a stock exchange or another regulated market shall be carried out according to the regulations of the relevant market. The company shall not be liable for any loss incurred by the Client as a result from changes to the trading terms of the relevant stock exchange or currency market.
4.8. The company shall not accept orders for transactions when:
a) The relevant market is closed for trading;
b) The Client does not have enough money in their Account to guarantee the transaction;
c) There are force majeure events.
4.9. The company may terminate all or any part of the services without prior notice in cases where:
a) The company finds that there are force majeure events;
b) The company suspects that the Client may be engaged in money laundering and/or funding terrorism;
c) The company suspects or there are evidences that the Client has malicious attitude towards the company or there is evidence of such attitude;
d) The company suspects that the Client is using/has previously used front-running practices or has acquired and misused inside information or any other information protected by law or the relevant market practices; has entered into a transaction that may qualify as market abuse, market manipulation, scalping or used concerted practices with a third party; misuse of the platform, manipulation of prices, manipulation of time or similar practices. In such cases, the company shall have the right to refuse to execute the Client’s orders or instructions and to void all of the Client’s trading transactions, even if they have already been confirmed by the company, without stating any reasons for its decision. In this case, the company shall have the right not to pay the amounts received in the Client’s account as a result of such transactions as well as to terminate the Client’s agreement by its own discretion.
e) In the above cases, the company shall not be held liable for any damages incurred by the Client.
4.10. The Client understands that sometimes there may be technical issues or faults with the trading platform. In such cases the Client should immediately contact the company and request information about the prices of the instruments or place an order by phone.
4.11. The Client agrees that all entry pending orders placed by him may be executed at a price different from the specified one in case of sharp fluctuations in the price of the instrument.
4.12.1. By signing the Agreement, the Client is informed that errors may occur in the prices of certain financial instruments to which they have access via the electronic trading platform as a result of technical errors or delays in obtaining the necessary information, which could make the quote incorrect, since quotes under this Agreement shall be formed using quotes of multiple brokers and banks, which are obtained via an API or DDE protocol.
4.12.2. If as per the hypothesis of the preceding paragraph, an obvious factual error in a specific quote is found, the company shall be entitled to cancel the transaction (executed under a wrong quote) and the relevant consequences – in terms of either a profit or a loss for the Client – no later than 3 (three) working days after the transaction. If the cancellation is made after the expiry of the deadline specified in the previous sentence, the company shall be responsible for the damage suffered by the Client as a result of the cancellation (if any) and shall be obliged to compensate the Client up to the amount of the damage suffered.
4.12.3. The company shall be liable (including within the three-day period stated in the above item) for the damage suffered by the Client (if any) up to the amount of the damage suffered as a result of any error in quotes that could have been prevented with due care or was caused by premeditated actions by the company’s employees, including when the error has been caused by drawbacks of the electronic platform software or by an entry of a wrong price, as per item 4.12.1.
4.13. By accepting the Agreement, the Client acknowledges that the company may stop providing quotes at certain times if there are temporary technical difficulties or circumstances that make it impossible to carry out transactions on a given market and hence to set quotes. In this case, the company shall not be liable for damages sustained by the Client.
4.14. By accepting this Terms of Business, the Client declares that:
a) is familiar with and accepts the entire Agreement, including the General Terms and Conditions, the Customer Order Execution Policy, the Customer Identification Policy, the Risk Notice and the Terms of Use, which are available on the website, as well as all others specified in item 1.2 of this Agreement documents;
b) is acquainted with and accepts the Tariff of the Company;
c) is acquainted with the Tables of the Company with trading instruments, including all costs for execution of the orders;
d) agrees to provide the Company with the personal data necessary for the conclusion of this contract and agrees to process them in accordance with the Personal Data Protection Act.
4.15. The Client hereby declares that they want to receive all information that the company is obliged to provide to the Client by electronic means of communication, including via the website www.fxmeridian.com, which provides access to the electronic trading platform, the mobile web application and/or on their email.
4.16. The company shall not be liable for the results of the investment decisions (orders) made by the Client while using the services as described in the Agreement. The company, however, shall be fully responsible before the Client for the correct execution of their orders. In compliance with the relevant regulations, the company shall ensure the Client’s protection and shall act in the Client’s best interest.
4.17. The client is obliged to independently monitor and comply with the tax legislation on the realized income from transactions with contracts for difference (CFD).
4.18. The company does not provide advice on tax treatment of income from transactions with contracts for differences.
The company shall issue, upon request, an official statement to the Client as described in item 4.17.
4.19. The Client has the right – without owing compensation or penalty and without stating any reason – to cancel this Agreement within fourteen (14) days after the date of its conclusion, and must close all open positions.
4.20. For each of the concluded transactions in execution of a client’s order under this contract, the Company acts as a counterparty regardless of the type of client’s order – “buy” or “sell”.
4.21. The Company is not liable for damages suffered by the client if the latter violates or fails to meet the technical requirements for use of the platform or transfers to third parties his username and password, thus giving them access to the trading platform.
4.22. The company is not liable for damages suffered by the customer if this is the result of a technical failure of the Internet providers and hosting centers used by the company.
4.23. The company is not liable for damages suffered by the customer if they are the result of loss of internet connection by the customer or are due to hardware or software problems with the computer / phone / tablet of the customer.
4.24. In case the client keeps his account inactive within a period of 3 consecutive months, and the client has not performed any transactions and / or deals, the company has the right to deduct from the account balance a fee, according to the Tariff, in the amount of 1% per month, but not less than the equivalent of BGN 10 per month, calculated in the currency in which the customer’s account is opened.
4.25. The client hereby declares and undertakes that:
a. any information provided by him is complete, correct, accurate and not misleading in any way;
b. has reached the age of at least 18 and is an adult in accordance with the applicable law, and that he has the right to enter into this Agreement in his own name and on his own account and not as a representative or proxy of another party.
c. no laws or regulations shall apply to it that prevent it from fulfilling its obligations under this Agreement.
5.1. For each open position the company shall block a part of the funds deposited by the Client as collateral. These funds are known as “Margin” and cannot be withdrawn by the Client. If the Client opens a position in CFDs on stocks, their Account should be funded with at least twice the funds that are blocked as collateral for the transaction. Information on the current margin rates is available on the website www.fxmeridian.com,
5.2. By signing this Agreement, the Client agrees that all trade profits and losses shall be recorded in their Account.
5.3. By signing this Agreement, the Client agrees that they shall at all times maintain an appropriate margin level as per item 5.1 and are required to independently monitor the compliance of the margin and recover it immediately when it drops below the required minimum.
5.4. In case the Client fails to provide the required margin under item 5.1 (if the total of the Client’s account balance falls below the minimum margin required for the respective instrument), the company shall inform the Client instantly via the electronic trading platform, which provides access to their account status, and by means of an automatically generated email to the Client.
5.5. The Client unconditionally agrees that upon the receipt of the information under the preceding item, the company shall close the open positions at current market prices without informing the Client in advance, in order to prevent the Client from sustaining losses exceeding the funds deposited in their Account. Under this Agreement, the Client agrees to the price levels of the transactions upon closing the positions. The Client shall be informed about their closed positions by means of an instant notification via the electronic trading platform that gives them access to their account balance or by an automatically generated email to the Client.
5.6. The measures under item 5.5 shall apply when the shortage of funds expands to more than 70% of the margin required and all of the Client’s open positions will be closed simultaneously.
5.7. The procedure and actions under items 5.5 and 5.6 in case of margin shortage are automatically set in the electronic trading platform and are activated with no human intervention, so there cannot be any subjective attitude or deception on the part of the company’s employees.
5.8. The procedure and actions under items 5.5 and 5.6 are taken to protect the Client from the accumulation of large losses that would be expressed in a negative account balance. Thus, the Client shall avoid the assumption of additional liabilities exceeding the funds in their Account with the company.
5.9. The Client shall have the right to withdraw money from their Account up to the amount of the free money in their Account and in accordance with art. 4.24 and 4.25 of this Agreement. No payments to third parties from the Client’s money shall be allowed. Bank deposits from third parties to the Client’s Account shall not be accepted either. The Client shall have the right to transfer money to the company’s bank accounts only after accepting an agreement with the company and receiving a username and password to access the electronic trading platform.
6.1. The Client shall place their orders via the website www.fxmeridian.com, or mobile web application after identifying themselves with their user name and password.
6.2. The Client may also place orders by phone at the phone numbers provided by the company after identifying themselves with their name, user name, and personal details.
6.3. Тhe company shall not be liable for any losses incurred by the Client due to an inaccurately placed order, interruption of the Internet connection or failure of the means of communication.
7.1.The placing and receiving orders between the Parties shall be concluded by using the methods of communication specified in item 6.
7.2. For each transaction the Client shall receive a quote from the website www.fxmeridian.com, or mobile web application. The quote shall be valid until replaced by a new one.In case the client submits an order by phone, he is obliged to check the current quotation immediately before submitting the order.
7.3. Тhe company and the Client cannot cancel the execution of a deal if the deal is executed at a valid quote price and the Client has confirmed that they “BUY” or “SELL” the desired quantity of the relevant instrument.
7.4. Тhe company shall quote two prices for each instrument via the website www.fxmeridian.com, or by mobile web application – “BUY” price and “SELL” price. The Client shall buy at the “BUY” price and shall sell at the “SELL” price.
7.5. The Client may place the following types of orders:
7.5.1. “Market Order” – this order is executed immediately at the current market price; if there is a change in the market price before the execution, then the company will execute the order at the new market price. The customer agrees to be informed that the new price may be higher or lower than the original price at which he chooses to buy or sell.
7.5.2. “Associated Order” – this order will be executed if the market price reaches the level specified in the order. This order is associated with an open position. If the open position is closed, then the Associated Order will be automatically cancelled. During market hours, the Associated Order will be executed at the specified price. The Associated Order may be executed at a different price when the market opens. There are two types of Associated Orders:
(1) “Stop Loss Order” – it is used to close an open position at a certain loss. The platform may have a set level of loss in the currency of the client’s account, but this information is indicative and not guaranteed.
(2) “Take Profit Order” – it is used to close an open position at a certain profit. The platform may have a set level of profit in the currency of the client’s account, but this information is indicative and not guaranteed.
7.5.3. “Entry Order” – this order will be executed if the market price reaches the price specified in the order. The entry order is used to open a new position or to modify an existing open position. The execution price of the Entry Order is not guaranteed. This order may be executed at a different price, especially when the market is volatile or not liquid. There are two types of Entry Orders – a “Limit Order” and a “Stop Order”. The trading platform will automatically set the type of the order according to the current market price and the specified price.
8.1. In return for providing the services under this Agreement, the company shall receive from the Client payment, fees or commissions, described in detail in the company’s Trading Instrument Tables and the Tariff of the company.
8.2. The company shall not pay any interest on the funds deposited by the Client in their Account with the company.
8.3. For each day when the Client has an open position they shall pay or receive an Interest Swap as specified in the company’s Trading Instrument Tables.
8.4. The amounts or percentage set in the Trading Instrument Tables under item 8 may be amended, and the change shall take effect after being announced on the website: www.fxmeridian.com, including the Trading Instrument Tables on it.
8.5. All amounts payable by the Client under item 8 shall be deducted from their Account, and if the Interest Swap under item 8.3 is positive, it shall be credited to the Client’s Account.
8.6. The Client agrees that when depositing funds to their Account with us or making withdrawals from it, the bank or the relevant payment provider may charge fees/commissions. When we are charged such fees/commissions from the relevant bank or payment provider, we are entitled to deduct those costs from the Client’s Account.
9.1. By signing this Agreement, the client declares that he has permanent access to the Internet and declares his desire that the information that the Company is obliged to provide on a durable medium to be provided through electronic means of communication, including through the website to access the platform – www.fxmeridian.com, and / or customer email.
9.2. Confirmations for executed orders will be sent to the client in the manner specified in item 9.1, and in addition the electronic trading platform provides the client with the opportunity to have real-time statements and confirmation of their transactions.
9.3 The Client must check the statements upon their receipt and must notify the company if there are any errors or discrepancies in them. Statements shall be final and shall not be corrected if the Client fails to notify the company about errors or discrepancies within one (1) work day from the date of the statement’s receipt.
10.1. A contract for difference (or CFD) is a derivative financial instrument created on the basis of shares, indices, futures or another financial instrument (underlying instrument). Contracts for difference are designed to allow the client to speculate on the price of stocks, indices, futures or other financial instruments without physically buying the underlying instrument. In a contract for a difference on currency pairs, the price of a currency pair shows the ratio in which the two currencies are traded. The purchase of a currency pair represents the purchase of the first currency in the pair and the sale of the second. The sale of a currency pair represents the sale of the first currency in the pair and the purchase of the second. Transactions with currency pairs are without real delivery of currency. They are carried out for speculative purposes only.
10.2. Before trading CFDs, you need to make sure you fully understand the risks involved. Contracts for difference are complex tools and run with a high risk of sudden loss of money due to the leverage used. We are required to notify retail customers of the percentage of non-retail customers who have lost money from trading CFDs in the last 12 months. This notice is available on our website: www.fxmeridian.com. You need to assess whether you understand how difference contracts work and whether you can afford to lose your money. By concluding this Agreement, you agree that we may provide you with a description of some of the risks associated with trading contracts for difference, on our website and in the risk disclosure notice. CFD trading may not be suitable for all investors due to its high risk and complexity. You may lose all or most of your initial payment, and you may need to make additional payments. You are responsible for your own business decisions. If you have any doubts, you should seek independent advice. The trading carried out by you in our Trading Platform is not carried out on a stock exchange or on a market and is not cleared in a central clearing house. Contracts for difference (CFDs) are contracts with us as your counterparty.
10.3. The minimum quantities of the orders are indicated in the Table of Trading Instruments on the website www.fxmeridian.com. The Client is aware that the prices of the currency pairs are indicated in the Table of Trading Instruments on the website www.fxmeridian.com or the mobile web application and may to differ minimally from the prices of other investment intermediaries.
10.4. Gains and losses from trading in currency pairs are always in the second currency of the pair. For example, when trading EUR / USD, the customer’s profit or loss will be in US dollars.
10.5. Currency pair transactions shall be concluded in the manner set out in point 7, using the means of communication described in point 6.
10.6. The Company may determine Prohibited Areas in which the customer will not be able to place pending orders. These are usually prices that are too close or too far from the market price of an instrument. The Company has the right to change these Prohibited Areas before upcoming important events without prior notice to the customer.
10.7. In case of abrupt changes in the price of a given currency pair, the Company may change the level of the guarantee amount required for this instrument, which may require the deposit of additional funds by the client. The change may take effect immediately without prior notice.
11.1. The contract for difference on stocks and indices allows the client to speculate on the price of a stock or index without having to physically buy the instrument. The conclusion of a contract as opposed to a share does not grant you any rights, voting rights, ownership rights or shares in any underlying instrument, nor does it entitle or oblige you to acquire, receive, hold, vote, grant, dispose of or participate directly in corporate actions in connection with any underlying instrument.
11.2. When trading with CFDs, the Client and the company explicitly agree on the following conditions:
a) None of the Parties shall physically acquire the base instrument purchased by the Contract for Difference;
b) None of the Parties shall be obliged to buy, sell or deliver the respective base instrument traded as a Contract for Difference.
11.3. Prices, interests and commissions:
11.3.1. The price of the Contract for Difference changes on a daily basis and is close or equal to the exchange price of the respective base instrument – stock, index or futures contract on an index.
11.3.2. In order to trade with CFDs, the Client must have sufficient free funds in their Account, as per the currently effective security percentages available on the website www.fxmeridian.com, The requirements of item 5.3 to 5.7 shall be valid for all open positions.
11.3.3. When the Client has opened a long position, they shall pay from their Account an interest for every day this position is open, according to the company’s Trading Instrument Tables.
11.3.4. When the Client has opened a short position, their Account shall be credited or debited with an interest for every day this position is open, according to the company’s Trading Instrument Tables.
11.3.5. The Client’s Account will be charged with the costs for each transaction with contracts for difference, according to the company’s Trading Instrument Tables.
11.3.6. Payment of dividends on stocks that are the base for a CFD:
a) in case the Client has a long position in a CFD, the Client agrees to receive 100% of the net dividend in their Account.
b) in case the Client has a short position in a CFD, the Client shall pay from their Account 100% of the gross dividend payable.
11.4. If a publicly traded company performs a split or reverse split of its stock, the Client shall be informed and agrees that the quantity of the CFDs in the Client’s position will be increased or reduced.
11.5. If a company bankrupts or is delisted from the respective stock exchange, the Client shall be informed that their positions in CFDs of this company will be closed, and the Client agrees to the closing prices.
11.6. In case of major fluctuations in the price of an instrument, the company may change the rate of the collateral for this instrument and additional money may be requested from the Client. The change may enter into force immediately without prior notification.
11.6.1. The company reserves the right to significantly increase the rate of the collateral for CFDs on stocks one day ahead of the release of important corporate reports without having to notify the Client in advance. The increase may be from 2 to 3 times greater than standard margin requirement for the said instrument.
11.6.2. The company may determine Prohibited Areas in which the Client cannot place pending orders. Usually these are prices which are too close to or too far from the market price of an instrument. The company shall have the right to change those Prohibited Areas ahead of important news events without having to notify the Client in advance.
11.7.1. All provisions of items 11-11.3.5 shall be valid for trading with CFDs on futures.
11.7.2. Each futures contract is traded for a specific period of time. The Client agrees that if they have open positions in CFDs on futures, they have to close them themselves before the day indicated in the Rollover table on the website www.fxmeridian.com .
11.7.3. The Client agrees that if he does not close the positions mentioned in item 11.7.2., then at the end of the day indicated in the Rollover table we will automatically close all open positions with these futures and the Client agrees with the price at which they will be closed automatically.
11.7.4. The Client agrees that upon closing the positions according to clause 11.7.3., all Associated Orders will be canceled and some or all orders to open a position for this instrument may be canceled.
11.7.5. In case of large fluctuations in the price of a futures, the Company may change the percentage of the guarantee amount for this instrument and the client may be required to deposit additional funds. The change may take effect immediately without prior notice.
11.7.6. The Company may determine Prohibited Areas in which the customer will not be able to place pending orders. These are usually prices that are too close or too far from the market price of an instrument. The Company has the right to change these Prohibited Areas before upcoming important events without prior notice to the customer.
11.8.1. Trading in contracts for difference on gold, silver and other precious metals is carried out on the basis of a spot price, and transactions with them are without real delivery of the purchased or sold quantities.
11.8.2. When trading contracts in contrast to precious metals, the price of the precious metal shows the ratio in which it is traded against currencies.
11.8.3. The minimum amount traded is listed on the website www.fxmeridian.com,
11.8.4. The client is aware that the prices of contracts for difference on precious metals are indicated on the website www.fxmeridian.com, or through a mobile web application and may differ minimally from the prices of other investment intermediaries.
11.8.5. The acceptance of orders for transactions with contracts as opposed to precious metals shall be carried out in the manner specified in point 7, using the means of communication described in point 6.
11.8.6. The Company may determine Prohibited Areas in which the customer will not be able to place pending orders. These are usually prices that are too close or too far from the market price of an instrument. The Company has the right to change these Prohibited Areas before upcoming important events without prior notice to the client.
11.8.7. In case of large fluctuations in the price of a precious metal, the Company may change the percentage of the guarantee amount for this instrument and the client may be required to deposit additional funds. The change may take effect immediately without prior notice.
12.1. This agreement is open-ended and enters into force on the date of receipt of funds (the amount of the minimum deposit) of the client with the Company through any of the payment methods listed on the website www.fxmeridian.com,
12.2. This Agreement may be terminated as follows:
12.2.1. by mutual consent of the parties, expressed in writing.
12.2.2. with fourteen days written notice to each of the parties. In case the client has open positions, the client agrees that they will be officially closed at the time of termination of the contract.
12.2.3. without notice if the client violates any of its obligations under this contract.
12.2.4. without notice, in case of disagreement of the client with the amendments to the General Terms and / or the Tariff of Fees and Commissions and / or any other document that is an integral part of this Agreement;
12.2.5. unilaterally, without notice from the Company in the cases under item 4.9. of this contract;
12.2.6. unilaterally, without notice, by the Company, in cases where the Company reasonably suspects that there is market abuse. In such cases, the Company reserves the right to refuse to execute orders submitted by the client and to cancel all his transactions, even if they have already been confirmed. In such a case, the Company will have the right not to pay the amounts received in the client’s account as a result of such transactions. In these cases, the Company will not be liable for any damages suffered by the customer.
12.3. The Company may amend the provisions of this Agreement at any time by sending 14 days written notice to the customer of the changes. The notification shall be sent through the methods of communication under item 6
13.1. This contract can be translated into different languages, and in case of inaccuracies in the translation, the Bulgarian version is considered correct.
13.2. The communication between the parties to this contract will be in Bulgarian and English.
13.3. By signing this contract, the client undertakes to notify the Company of any changes in the declared information.
13.4. The Company undertakes to comply with all its obligations under the relevant regulations, including to ensure the client’s efficient and reliable performance of the contract, as well as the continuity and quality of the services provided to him under this contract.
13.5. Pursuant to this agreement, the Company undertakes and guarantees that the client’s assets will be identified and stored separately from the Company’s assets.
13.6. In cases where the Company suspects misuse of the platform, we reserve the right to seek a refund from the customer or any linked account if transactions made to the customer account, the probable linked account or the account of another person acting with the customer lead to recurring need for the Company to cover losses. We may recover funds by charging the Client’s trading account or any linked account by deducting amounts of future payments due to the Client or to a linked account, or otherwise lawfully.
13.7. The Company reserves the right to offset balances in accounts that we have reason to believe are owned or controlled by the same person or are managed jointly.
13.8. When a client deposits funds, it is possible that the respective card payment service provider or electronic wallet will charge us a fee of up to 4% of the deposit amount. In this case, the Company will charge this fee to the customer’s account.
13.9. We are obliged to identify and verify the identity of our customers and, in certain circumstances, that of other persons, such as directors or beneficial owners, in accordance with anti-money laundering legislation, and to update this information. You agree that we may perform inspections using electronic verification systems or other databases at our discretion. We may also report to official agencies any information that leads to suspicions of money laundering or terrorist financing.
13.10. We will receive and store your personal data in accordance with the relevant legislation for the protection of personal data and the fight against money laundering. By instructing us to provide the Services to you, you consent to and allow us and our carefully selected suppliers, consultants and subcontractors to use this data solely to comply with our obligations regarding customer reporting and identification, to monitor, develop and we improve our services, including the IT systems used in connection with the provision of such services.
13.11 We will not be liable for any loss, damage or delay resulting from compliance with our legal or regulatory requirements and obligations.
13.12 This Agreement and any matter or dispute arising out of or in connection with the subject matter of the Agreement shall be settled, interpreted and executed in accordance with the laws of the Republic of Bulgaria.
13.13. All disputes shall be settled by mutual agreement between the parties. If the parties cannot reach an agreement, the dispute is referred to the BCCI Arbitration Court.
13.14. If a court or competent authority finds that a provision of this Agreement (or part of any provision) is invalid, illegal or unenforceable, that provision or part of the provision shall be deemed to be deleted in so far as required and the applicability of the other provisions of this Agreement shall not be affected.
13.15. This Agreement is signed at a distance, by exchanging electronic statements, signed with an electronic signature according to Art. 13 of the Electronic Document and Electronic Certification Services Act.
Ever Financial AD is committed to the protection of your personal data and we do not access or use it for any purpose other than providing, maintaining and improving our services and as otherwise required by law. In order to open and maintain client accounts, we obtain and hold personal information. This policy outlines how we manage such information to ensure we meet our obligations to respect our clients’ privacy and that all such information remains confidential. We are bound by the terms of the General Data Protection Regulation 2016/ 679 (GDPR) and any applicable data protection law.
This Privacy Policy applies to the data processing activities of Ever Financial AD
Tel.: + 359 2 400 33 39
(amended with decision by the BD from 09.10.2020, 18.02.2022 and from 15.02.2024) email: ever@fxmeridian.com
(amended with decision by the BD from 09.10.2020)
Address: 1303, Alexander Stamboliyski Blvr., Sofia, Bulgaria
Ever Financial AD is a company registered in Bulgaria, UIC: 831649724. Ever Financial AD is a company licensed and regulated by the Financial Supervision Commission (FSC) (registration number RG-03-0008).
(amended with decision by the BD from 09.10.2020, 18.02.2022 and from 15.02.2024) When you access our website at www.fxmeridian.com, we may collect personal data about you. We also process the personal data that we received from you as part of the contractual relationship that we have with you or for the purposes of legitimate interests pursued by Ever Financial AD. We also process data that we have legitimately received from publicly available sources.
The processing and the storage of your personal data is necessary to provide you the services described in the Ever Financial AD Client Agreement and to comply with our regulatory obligations. If you choose not to provide some of the requested information to us, we may be forced not to enter into an agreement with you or to refuse the performance of an existing agreement and consequently terminate it as we will not be able to fulfil our contractual and regulatory duties.
We keep the information as up to date as possible, and will change any details, such as your address, promptly when you inform us that they have changed.
Personal data that may be processed by Ever Financial AD comprise as well any type of electronic communications such as letters, emails, chat messages, telephone conversations, tax identification number and any related tax information, any personal information resulting from the KYC/AML checks carried out by Ever Financial AD pursuant to the applicable legislation relating to the fight against money laundering and terrorist financing.
Your use of the Website involves the automated collection of certain types of information, some of which may be considered personal information. This information includes: IP address, browser type and operating system.In addition, the Website uses a range of cookies to improve and personalise your experience. More information about these can be found in our Cookies Policy.
We will process your personal data (including collect, use, store and transfer, if applicable):
i. for the performance of the Ever Financial AD Client Agreement Concluded between you as a client and Ever Financial AD and for the provision of the services described in the Agreement (the ‘‘Services’’);
ii. for compliance with legal and regulatory obligations to which Ever Financial AD is subject (including but not limited to the obligations arising under the MIFID 2 regulation, anti-мoney laundering and countering terrorist financing regulatory obligations, any applicable tax legislation etc.) Examples of such regulatory obligations include, among others: reporting obligations to the FSC; providing information to financial crime authorities of suspicious money-laundering transactions or in the context of financial criminal proceedings; providing information to tax authorities.
iii. In case the processing of personal data is necessary for the purposes of the legitimate interests pursued by Ever Financial AD – for example, in case we are obliged to provide a reference about you to a public authority or agency in order to comply with a legal obligation, to send you surveys for analytical and statistical purposes, as well as to ensure that we provide you with the best trading services and information we can and to continue improving our products in your best interest.
iv. Within the scope of your consent – for example, for marketing and promotional purposes. If you have granted us consent to process your personal data for marketing purposes, processing will only take place in accordance with the purposes set out in the declaration of consent and to the extent agreed therein. Any consent given may be revoked at any time by you with future effect.
Ever Financial AD will process your personal data for the purposes of:
i. providing the Services requested by you and carried out in relation to the concluded Agreement, including, among others, verify your identity, open and manage your account. This may include third parties carrying out identity checks on our behalf. Further, processing of data includes processing your deposit and withdrawal requests, managing client relationships by means of electronic, telephone or chat communication, entering into and executing transactions with financial instruments.
ii. having an email communication;
iii. conducting a risk assessment as prescribed by applicable legal provisions by collecting and archiving required documentary evidence regarding your identity; conducting a risk management control, data analysis and global supervision of your ongoing needs and enhancing the services offered to you;
iv. improving and personalising our Services;
v. preventing misuse and fraud, demonstrating business transactions and communications; managing transactions surveillance and monitoring and complying with reporting obligations; managing risks, disputes, complaints, litigation or in the context of prosecution;
vi. marketing communications with you about updates to our products and services and informing you about any promotions offered by us, as long as it is in our legitimate interest or you have consented to receive such communications and unless you choose to opt-out of them. You can choose to opt-out of receiving such communications at any time by contacting us using the contact details set out in this Policy. We can continue to offer you the Services without this additional service.
Your personal data is received and processed by those employees of Ever Financial AD that need it for the execution of contractual, legal and regulatory obligations. Further, we may disclose, to the extent we deem such disclosure or transmission is necessary for satisfying the purposes set out above, to the following recipients:
-> Any lawyers, external auditors or advisors, professional consultants, credit reference agencies, notaries, bailiffs, as well as any courts, regulatory, governmental, administrative or other official bodies as agreed or may be required by law, where such disclosure is necessary (i) to comply with any applicable law or regulation; (ii) to enforce applicable terms and conditions or policies; (iii) to protect the security or integrity of our services; and (iv) to protect our rights and interests;
-> third-party service providers that provide IT services, advisory and consultancy services, research, identity verification checks, payment processing services, insurance or other services to Ever Financial AD, which are only authorised to process your personal data strictly for the purposes of providing these services and in accordance with our instructions. If applicable, we will enter with such third-party service providers into the relevant contractual agreements or the standard data protection clauses that would be required under the GDPR to ensure compliance with our instructions;
-> third parties as part of mergers and acquisitions, provided that the prospective buyer or seller agree to respect your personal data in a manner consistent with our Privacy Policy.
We will require any entity to whom we disclose your information or who may obtain it on our behalf to ensure its confidentiality, and to handle it in line with the legitimate purpose for which they are allowed to access it and in accordance with the GDPR. We will not share or sell your information with third parties for their own independent marketing or business purposes without your consent.
We will process your personal data for the entire duration of the Agreement you have concluded with us and for a period of five years after the termination of the Agreement to comply with the applicable anti-money laundering legislation and legal safe-keeping obligations. Further, any personal data will not be retained for longer than the time necessary for satisfying the purposes of its processing, subject to the general statutory limitation periods and the mentioned retention period where the applicable laws require that the personal data is retained for a certain period after the termination of our business relationship with you.
You have the right to:
-> access and obtain information about your personal data – you have the right to request what information (if any) we process for you and if so, provide you with information containing your personal data and a copy of that personal data undergoing processing. To request information, we will need to verify your identity. If you require additional copies, we may need to charge a reasonable administration fee for requests that we deem are manifestly unfounded. Upon receiving a request from you and/or upon the receipt of the applicable fee, we will acknowledge your request and respond to you within one month from filing your request.
-> rectify any factual inaccuracies or incompleteness with respect to your personal data – If the personal data we hold about you is inaccurate or incomplete, you may ask us to correct it. Upon receiving such a request from you, we will acknowledge it and respond to you within one month as from filing your request. If we have shared your personal information with others, we will let them know about the rectification where possible.
-> request deletion of your personal data – you can ask us to delete or remove your personal data in cases where we no longer need it. However, please note that such requests will be satisfied provided that we have no legal obligation to retain such data and will be subject to any retention periods we are required to comply with in accordance with applicable laws and regulations as specified in section ‘’How long will your data be stored’’ above.
-> request restriction of processing – you can ask us to restrict the processing of your personal data in certain circumstances such as where you contest the accuracy of that personal information, for a period enabling Ever Financial AD to verify the accuracy of your personal data or in case you deem the processing is unlawful. Such objection may not impede us from storing your personal information though.
-> object to the processing of personal data by Ever Financial AD – you can require from us to terminate the processing of your personal data, and we will comply with such request in cases where your personal data is processed for the purposes of direct marketing or research (if applicable) or if we are relying on our own legitimate interests to process your data except if we can demonstrate compelling legal grounds for the processing.
-> request portability of your personal data – you have the right, when applicable, to receive the personal data you have provided to us in a structured, commonly used and machine-readable format and to transmit those data to another entity (data controller) of your choice when this is technically possible.
-> lodge a complaint with a supervisory authority – you have the right to lodge a complaint regarding our processing of your personal data with your supervisory authority.
Please contact us using the contact details provided below to make a request in respect of your rights. We will use commercially reasonable efforts to respond to your request within 30 days of receiving such a request. If we cannot honour your request within the 30-day period, we will let you know the reasons why and when we expect to be able to fulfil your request.
We put a lot of effort and apply the highest technical and organisational standards to ensure that your personal data is secured and kept confidential. Any personal data that you provide to us is stored on secure servers, and we use rigorous procedures to protect against loss, misuse, unauthorised access, alteration, disclosure, or destruction of your personal data. We protect your personal information by maintaining physical, electronic, and procedural safeguards in compliance with the applicable laws and regulations. Part of the measures that we apply to provide a high level of security in terms of personal data management include, among others:
-> Pseudonymisation – we process your personal data in such a manner that it can no longer be attributed to a specific person without the use of additional information which additional information is kept separately and is subject to specific technical and organisational measures to ensure that the personal data is not attributed to an identified or identifiable natural person;
-> Encryption – we apply cryptographic methods which convert certain information or data into a code to make it unreadable for unauthorized users;
-> Minimisation – the personal data we demand from you is adequate, relevant and only limited to what is necessary in relation to the purposes for which such data is processed;
-> Strict internal control on access to your personal data – access to your personal data is allowed only to those of our employees who need such verification to properly exercise their professional duties;
->Ensuring ongoing application of integrity, confidentiality and education of all our employees.
We maintain security and incident response plans in the event of a physical or technical incident to handle this in a timely manner and limit any negative effect of such incident. Although we work hard to protect your personal data, we cannot guarantee that our safeguards will prevent every unauthorised attempt to access, use or disclose personal data.
Your information will be held on our secure computer systems. We have in place systems and procedures to prevent unauthorised access, improper modification or disclosure, misuse or loss of information.
We need to hold your information for some time after you have provided it to us, even if we no longer have a contractual relationship with you. Once we consider that such information is no longer needed, we will destroy it.
If you have any questions with regard to your rights or the present policy or if you consider that we have failed to respect your confidentiality, you may contact us by:
Tel.: + 359 2 400 33 39
(amended with decision by the BD from 09.10.2020, 18.02.2022 and from 15.02.2024) email: ever@fxmeridian.com
(amended with decision by the BD from 09.10.2020)
Address:
1303, Alexander Stamboliyski Blvd., Sofia, Bulgaria
We inform you that we use video surveillance in our offices and if you visit any of our office premises, you may be subject to video recording. We are also obliged by law to record all our telephone conversations with clients.
If you are not satisfied with our response to any complaint with regard to your personal data, you have the right to lodge a complaint with the respective supervisory authority, namely:
Commission for personal data protection at https://www.cpdp.bg/en/index.php?p=pages&aid=5
1592 Sofia, 2, Prof. Tsvetan Lazarov blvd.,
Email: kzld@cpdp.bg
If you access links on the Website to third party websites which are not owned by Ever Financial AD, or if you access the Website through links from other websites, please be aware that these websites have their own privacy policies. We do not accept any responsibility or liability for these privacy policies. You should check and review these privacy policies before you submit any personal data to these websites.
The services offered by Ever Financial AD are not allowed to be used by any person under the age of 18. We do not knowingly collect personal information from children under the age of 18 without the consent of the child’s parent or guardian. If you learn that anyone younger than 18 has unlawfully provided us with personal data, please contact us, and we will take steps to delete such information.
We may change this Privacy Policy from time to time by posting the updated version on our Website. Laws, regulations and industry standards evolve, which may make those changes necessary, or we may make changes to our business. We advise you to review this page regularly to stay informed and to make sure that you are happy with any changes. If the changes are significant, we will provide you with a more prominent notice such as an email notification or through the Services. If you disagree with the changes to this Privacy Policy, you should discontinue your use of the Website or related Services. If we change this Privacy Policy in a way that will affect how we use your personal data, we will advise you of the choices you may have as a result of those changes.
This new Privacy Policy was adopted by a decision of the Board of Directors on 23.05.2018, entered into force on 25.05.2018. The policy has been amended by a decision of the Board of Directors on 09.10.2020, 18.02.2022, 24.088.2022 and from 15.02.2024.
The owner of this website is “Ever Financial” AD (“the company”, “we”, “our”). This policy will be reviewed periodically to take into account changes in operations or practices and, in addition, to ensure that the policy is consistent with any changes in laws, technology and the general business environment. By using our website and trading platform, you agree to our Cookie Policy.
We may obtain information about you by accessing cookies (text files which are stored on your computer or other access device) when you visit our website or use our services. Cookies store small pieces of information, such as names and email addresses. We are able to do this by using web beacons (also known as clear GIFS or web bugs). Web beacons do not store additional information on your computer but, by communicating with our cookies on your computer, they can remember things about our website, which we use to improve your user experience.
Cookies are not programs and cannot be executed as code or deliver viruses – instead, cookies act more like a passport, which the site checks and updates whenever you visit. Most websites which you visit will use cookies in order to improve your user experience. Their functions include verifying your identity for security purposes; determining the type of browser and settings you are using or allowing site owners and third-party advertisers to tailor content to your preferences. Cookies are managed by your browser. Each cookie is unique and contains some anonymous information such as a unique identifier, site name, digits and letters. It allows a website to remember your browsing preferences
Cookies may be either “persistent” cookies or “session” cookies. The website uses both persistent and session cookies.
A session cookie is essential to ensure the correct functioning of the website and is used to manage registration/login and access to reserved features. Session cookies are stored temporarily during a browsing session and are deleted from the user’s device when the browser is closed.
Persistent cookies are saved on your computer for a fixed period (usually a year or longer) and are not deleted when the browser is closed (unless deleted by the user before the expiry date).
Cookies set by the website owner or service provider (Ever Financial AD) are called “first party cookies” and they can only be read by that site. Cookies set by parties other than the website owner are called “third party cookies”.
Third party cookies enable third party features or functionality to be provided on or through the website or service you are using (such as advertising, interactive content and analytics). The third parties that set these third party cookies can recognise your computer both when it visits the website or service in question and also when it visits certain other websites or services.
We use functionality cookies to analyze how visitors use our website and to monitor website performance and functions. This allows us to provide a high quality customer experience by quickly identifying and fixing any issues that arise. For example, we might use performance cookies to keep track which pages are most popular and which method of linking between website pages is most effective.
Functionality cookies are used by our Trading Platform to allow us to remember your preferences and identify you as a user, ensure your information is secure and to operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access the Trading Platform, and recall your preferences, such as which language you wish to see when you log in.
We use the following types of Cookies:
| COOKIES IN THE WEBSITE | EXPIRATION | DESCRIPTION OF PURPOSES |
| username, password, rememberMe | forever | Records data about the “remember me” functionality, which the customer can activate in a bookmark on the entry page. |
| platform-main-currently-logged | forever | Saves the username of the last successful login. |
| platform-themes | forever | Records information about the selected color theme (light or dark). |
| s | forever | Records the unique session number. It is necessary for normal operation. When exited, it is deleted. |
| cookie_warning | 3 years | Set to prevent cookies from appearing on each page and disrupting visitors. |
| THIRD-PARTY COOKIES | EXPIRATION | DESCRIPTION OF PURPOSES |
| _cfduid | 1 month | Used to limit attacks on the site with too many requests so the users could use the services normally.
The __cfduid cookie is only used when customers utilize a specific Enterprise feature within the Rate Limiting feature. https://www.cloudflare.com/cookie-policy/ https://support.cloudflare.com/hc/en-us/articles/200170156-Understanding-the-Cloudflare-Cookies |
You can set or amend your web browser controls to accept or refuse cookies. If you choose to reject cookies, you may still use the website though your access to some functionality and areas of the website may be restricted. If you block cookies, you will not be able to use all the features on our website and trading platform. You can also delete cookies already stored on your computer. Again, doing this may have a negative impact on the usability of our services.
As the means by which you can refuse cookies through your web browser controls vary from browser-to-browser, you should visit your browser’s help menu for more information. It is necessary to follow the instructions provided by the web browser, which are usually located within the ‘Help’, ‘Tools’ or ‘Edit’ menus.
Alternatively, an external resource is available at www.allaboutcookies.org/manage-cookies, providing specific information about cookies and how to manage them to suit the user’s preferences.