The financial products and services provided by Morscapital aren’t intended for distribution to residents of Australia, the United Kingdom, the European Union, the United States, or any other country where to do so would be unlawful. It’s your responsibility to make sure that there aren’t any laws or regulations in your jurisdiction that restrict you from trading with us. While some of our Platform software licenses are held by a related company (Morscapital) on our behalf, Morscapital is the issuer of the products available to you under the Agreements.
Applying for an Account
1.1 You need to have an active Account before you can trade with us. You can apply for more than one Account.
1.2 This is the process for applying for, opening and activating your Account:
(a) you need to complete an Application Form, which we’ll decide to accept in our sole discretion;
(b) if we accept your Application Form, we’ll open an Account for you;
(c) if we need you to pay us money as Margin, subject to clause 1.3:
(i) you need to deposit the Margin that we ask for into our bank account; and
(ii) once your money has been cleared, we’ll credit your Account with the Margin that you’ve deposited.
1.3 We’ll hold any money that you pay to us in compliance with clauses 4.6, 4.7 and 4.8 of these Terms. Term
1.4 The Agreements take effect when you accept them online as part of your Account application process and will remain in force unless terminated under these Terms. No personal advice
1.5 The contents of these Terms and any advice that we give you is general information only and doesn’t take into account your personal situation, financial objectives or needs. In particular, we don’t provide personal advice about whether you should open, hold or Close-Out a Contract. You’re entirely responsible for assessing the features and risks of the products that we offer and seeking your own independent advice about whether they’re suitable for you, before you trade with us. Underlying Assets
1.6 You acknowledge that when you trade with us, you don’t own, have any rights in, or take physical delivery of any Underlying Assets, and there’s no exchange of one Underlying Asset for another.
Entering into a Contract with you
1.7 We enter into a Contract with you when we accept an Order that you’ve submitted, provided that you comply with your obligations under the Agreements. Please refer to clause 2 of these Terms for more information on Orders and pricing.
1.8 Whenever we send you a notice that sets out an amount or rate for a Contract or Order, you should take it as evidence of that amount or rate, unless it’s proven incorrect. You’re responsible for verifying the contents of each notice that you receive from us. We’ll take our notices to be correct and conclusive, unless you tell us otherwise in writing within 3 Business Days of receiving it.
1.9 We enter into each Contract with you as a principal. We don’t enter into Contracts as an agent on your behalf.
1.10 You also enter into each Contract with us as a principal, unless we otherwise agree with you in writing.
1.11 You can instruct us to enter into a Contract which is opposite to one or more of your open Contracts.
Closing-Out your Contract
1.12 Your open Contract is Closed-Out: (a) when we accept your Order requesting Close-Out of your Contract (including where the Order is deemed to be a Close-Out under clause 1.11 of these Terms); or (b) by us under clause 15.
1.13 If your Contract is Closed-Out under clause 15.2, we’ll pay you any Profit and you must pay us any Loss on your Account, to the extent that these amounts haven’t already been prepaid under clause 5 of these Terms.
Trading on your Account
1.14 You must not permit another person to trade on your Account (as your agent or otherwise) without our written approval and without first completing any documents and due diligence process that we require from you and your proposed agent regarding these arrangements. You acknowledge that you’re entirely responsible for any activities carried out by another person on your Account, whether or not you’ve appointed them as an agent in compliance with these Terms.
1.15 If you act as an agent for another person, we won’t accept that person as a client unless we agree with them in writing and have them complete the required documents, regardless of whether you identify that person to us.
1.16 You must let us know if you’ve withdrawn your agent’s authorisation.
1.17 We reserve the right to decline or terminate any agency arrangements in our sole discretion.
Treating your Accounts separately
1.18 If you’ve opened more than one Account with us, we’ll treat your Accounts as entirely separate, except as otherwise set out in the Agreements.
1.19 If you have a credit on one of your Accounts, you’re not released from any of your liabilities regarding your other Accounts, except where we exercise our rights under clause 5 and clause 15.3 of these Terms.
1.20 We can, in our absolute discretion, agree to treat your Accounts as one Account if you ask us to do so in writing. In this case, all references to your Account in the Agreements will be taken to be your total Accounts. We’ll let you know whether we agree to treat your Accounts as one Account within 7 days of receiving your request.
1.21 The Platform is an online facility that allows you to execute your trades as well as view, download and print the Confirmations and other reports that we provide about your Account.
1.22 It’s your responsibility to understand and assess the Platform before trading with us.
1.23 You can access and use the Platform to:
(a) submit Orders to us;
(b) receive Confirmations and other reports that we make available to you by posting in the Platform;
(c) review your Contracts; and
(d) monitor your obligations under the Agreements.
1.24 The Platform is provided by third parties and because of this, we don’t control, endorse or vouch for the accuracy or completeness of the Platform. It’s provided to you on an “as is” basis, without any express or implied warranty or guarantee from us and we don’t promise that it’s fit for a particular purpose.
1.25 These terms apply to Contracts that you execute through our Platform:
(a) we’re not liable to you for any loss, expense, Cost or liability that you suffer or incur because of any failure of the Platform, data or service interruptions, transmission failure or delays or similar technical errors arising out of or in connection with the use, operation, performance and/or error or malfunction of the Platform, other than as a result of our fraud, willful default or negligence;
(b) we’re not liable to you for any removal of Profits or Losses you might suffer due to errors in quotes which are the result of our typing errors, feed errors or any incorrect perception of information that you enter into the system other than as a result of our fraud, willful default or negligence;
(c) we’re entitled to make the necessary corrections in your Account based on the market value of the relevant Underlying Asset the time an error occurs;
(d) the price of your Contract may change in the time between when we initially offer it to you and when we receive your Order, because of delays in transmission between you and us. If we offer automatic Order execution to you, we’re entitled to change the price at which your Order is executed to the market value at the time we receive the Order from you;
(e) our Platform may be available in several versions, which can vary regarding certain features, including but not limited to the level of security applied and products and services available. We’re not liable to you for any loss, expense, Cost or liability that you suffer or incur because you’ve used a different version of the Platform than our current standard version (with all available updates installed);
(f) you’re responsible for all Orders and for the accuracy of all information sent via the Platform using your name, password or any other means of personal identification implemented to identify you;
(g) you must keep all passwords secret and ensure that no one else accesses your Account;
(h) you’re liable to us for Contracts executed via your password even if you haven’t allowed your password to be used or your Account is wrongfully accessed; and
(i) any Confirmation that we send or make available to you on the Platform is our confirmation of a Contract, regardless of whether the Platform confirms that the Contract is executed immediately when you send your instructions.
Our Trading Hours
1.26 We have a 5+1 daily candle week for all clients, as this is related to the data feed for pricing and GMT timing is depending to our liquidity provider. The 5 daily candle is per usual weekly candle from Monday to Friday, however we have 1 extra daily candle due to Sunday candle, containing 2-3 candle of H1 time-frame candle from 21:05 to 24:00 as our server time is GMT+0. Market opens for Sunday is 21:05, for Monday to Friday market opens from 00:00 per server time.
1.27 We’ll provide services to you outside of these hours at our sole discretion. Trading times for each Contract may vary within these times, please check our website for further information on trading sessions for your Contract.
1.28 We’re not obliged to quote Underlying Asset prices or accept Orders on a public holiday in any jurisdiction which, in our reasonable opinion, affects the relevant Underlying Asset. We provide notices of public holidays and the Underlying Assets affected within the Platform.
Data Privacy And Policy
1.2 In this Policy, we use the terms “we” “us” “our” or “Morscapital” to refers to Morscapital and its related companies.
1.3 Personal information is any information or opinion about you that is capable (or reasonably capable) of identifying you, whether the information or opinion is true or not, and regardless of whether the information is recorded in a material form.
1.4 Sensitive information includes things like your racial or ethnic origin, political opinions or membership of political associations, religious or philosophical beliefs, membership of a professional or trade association or trade union, sexual orientation or criminal record. Your health, genetic and biometric information and biometric templates are also sensitive information. Sensitive information is also personal information for the purposes of privacy laws.
1.5 We collect personal and/or sensitive information to provide you with the products and services that you ask for, as well as information about products and services offered by us or third parties.
1.6 We may use your personal and/or sensitive information to administer our products and services, for prudential and risk management purposes and, unless you tell us otherwise, to provide you with related marketing information. We also use the information we hold to help detect and prevent illegal activity. We cooperate with police and other enforcement bodies as required by law.
1.7 We disclose relevant personal information to external organisations that help us provide services. These organisations are bound by confidentiality arrangements. They may include overseas organisations.
1.8 You can seek access to the personal information we hold about you. If the information we hold about you is inaccurate, incomplete, or outdated, please let us know so that we can correct it. If we deny access to your personal information, we’ll let you know the reason why. For example, we may give an explanation of a commercially sensitive decision, or give you access to the information through a mutually agreed intermediary, rather than provide you with direct access to evaluative information connected with the decision.
Section B – Collection of personal information
2. Why we collect your personal information
2.1 We only collect personal information when it’s reasonably necessary for us to do business with you.
2.2 We use your personal information to:
(a) verify your identity;
(b) provide you with the products and services that you’ve asked for;
(c) help us monitor, evaluate and develop our products and services;
(d) enable secure access to our client area;
(e) unless you tell us otherwise, keep you informed about our products and services and those of our relevant business and initiative partners, and tailor this information to your needs and interests;
(f) respond to any feedback, queries or complaints;
(g) provide you with technical support;
(h) participate in any third party acquisition or potential acquisition of an interest in us or our assets;
(i) comply with our legal obligations under the applicable laws; and
(j) take measures to detect and prevent fraud, crime or other activity which may cause harm to our business or our products and services.
3. Information we may collect
3.1 The personal information we collect about you generally includes the following:
(b) date of birth;
(c) postal or email address; or
(d) phone numbers, including home, mobile and work;
(e) fax number;
(f) information relating to an individual’s source of wealth;
(h) credit card details;
(i) bank account details, including institution name, branch, account name, bank identifier, and account number or IBAN;
(j) information relating to your trading experience;
(k) identification documentation, as required under applicable anti-money laundering laws (“AML Laws”), including: (i) passport; (ii) driver’s licence; (iii) national identity card; (iv) utility bills; (v) trust deed; (l) a credit or bankruptcy check; and/or (m) other information we consider necessary to our functions and activities.
3.2 We’re required by law to identify you if you’re opening a new account or adding a new signatory to an existing account. AML Laws require us to sight and record details of certain documents (i.e. photographic and non photographic documents).
3.3 Where necessary, we also collect information on the following individuals:
(c) company directors and officers;
(d) officers of co-operatives and associations;
(e) client’s agents;
(f) beneficial owners of the client; and
(g) persons dealing with us on a “one-off” basis.
3.4 We may take steps to verify the information we collect. For example, a birth certificate provided as identification may be verified with government-held records (such as births, deaths and marriages registers) to protect against impersonation, or we may verify with an employer that employment and remuneration information provided in a credit application is accurate.
4. How we collect personal information
4.1 We may either collect personal information about you directly from you or from sources other than you when permitted under AML Laws. “Sources other than you” may include your agents, family members, friends, related entities, affiliates or divisions.
4.2 We may also collect information from you electronically, for instance, when you visit our website.
5. Incomplete or inaccurateinformation
5.1 If you provide us with incomplete or inaccurate information, we may not be able to provide you with the products or services that you ask for.
6.1 In most cases, we’ll obtain your consent to use and disclose your personal information for our intended purposes either before or at the time that we collect it.
6.2 If you don’t give us your consent or withdraw your consent, we may not be able to provide you with the products or services you ask for.
7. Withdrawing consent
7.1 You can withdraw your consent at any time. To withdraw your consent, please email [email protected] in the first instance.
8. Sensitive information
8.1 We’ll only collect sensitive information about you if we have your consent, or if we’re required or authorised by law.
9. Aggregated Data
9.1 Aggregated data is general data about groups of people which doesn’t identify anyone personally, for example the number of people in a particular industry that engage in forex trading. We use aggregated data to:
(a) help us to understand how you use our products and services and improve your experience with us; and
(b) customise the way that we communicate with you about our products and services so that we can interact with you more effectively.
9.2 We may share aggregated data with our business or industry partners.
10. Anonymity and pseudonymity
10.1 In certain situations we may be able to give you the option of using a pseudonym or remain anonymous when you deal with us. We’re only able to provide you with this option when it’s practical for us to do so, and if we’re not required by law to identify you.
11. Dealing with unsolicited personal information
11.1 If we receive personal information about you that we haven’t ask for, we’ll only retain it if we determine that:
(a) the information received is reasonably necessary for us to do business with you; and
(b) you’ve either consented to the information being collected, or it wasn’t practical or reasonable for us to obtain your consent in the circumstances.
11.2 If these conditions aren’t met, we will destroy or de-identify the information.
11.3 If the unsolicited information we receive about you is sensitive information, we’ll get your consent to retain it, regardless of what the circumstances are.
Section C – Integrity of your personal information
12. Quality of personal information
12.1 We ensure that the personal information we collect and handle is accurate, up to date, complete and relevant.
12.2 Please contact us if any of the details you have provided to us change or if you believe that the information we have about you isn’t accurate or up to date.
12.3 We may also take steps to update the personal information we hold, for example, an address, by collecting personal information from publicly available sources such as telephone directories or electoral rolls.
13. Security of personal information
13.1 We’re committed to protecting the personal information we hold about you from misuse, unauthorised access and disclosure.
13.2 We’ve implemented a range of practices and policies to provide a robust security environment. We ensure the on-going adequacy of these measures by regularly reviewing them.
13.3 Our security measures include:
(a) educating our employees about their obligations when they collect and handle personal information;
(b) requiring our employees to use passwords when accessing our systems;
(c) encrypting data sent from your computer to our systems during internet transactions and client access codes transmitted across networks;
(d) employing firewalls, intrusion detection systems and virus scanning tools to protect against unauthorised persons and viruses from entering our systems;
(e) using dedicated secure networks or encryption when we transmit electronic data for purposes of outsourcing;
(f) practising a clean desk policy for all premises and providing secure storage for physical records; and
(g) employing physical and electronic security measures such as swipe cards, alarms, cameras and guards (as required) to protect against unauthorised access to buildings.
13.4 Where we identify that we no longer need certain personal information, we ensure that it’s effectively and securely destroyed. For example, we may shred paper records or use other means such as degaussing (de-magnetism of a device) and deletion in the case of electronic equipment and records.
Section D – Use or disclosure of personal information
14. Who we disclose personal information to
14.1 We may share your information with our related entities and third parties that we outsource functions to or partner with, in certain limited situations where it’s necessary for us to provide our products and services or perform associated business activities.
14.2 These entities and third parties include:
(a) brokers and agents who refer your business to us;
(b) our third party business partners or joint initiative providers;
(c) auditors we appoint to ensure the integrity of our operations;
(d) any person acting on your behalf, including your financial adviser, solicitor, settlement agent, accountant, executor, administrator, trustee, guardian or attorney;
(e) your employment referee (to confirm details about you);
(f) if required or authorised to do so, regulatory bodies and government agencies;
(g) credit reporting agencies;
(h) other financial institutions and organisations that you seek credit from them (at their request, so that they may assess whether to offer you credit); and
(i) other organisations who assist us to provide products and services by performing functions such as client contact, banking, payments, data processing, debt recovery, marketing and advertising, data analysis, business intelligence, website and technology services. They may also provide products and services that integrate with or complement our products and services.
14.3 We take our obligations to protect your information extremely seriously and make every effort to deal only with parties who share and demonstrate the same attitude. Each of the third parties that we contract with is carefully selected and is only authorised to use your personal information in a secure way, that’s necessary for them to perform their services to us.
15. Disclosure required by law
15.1 We’ll also disclose your personal information if we’re required by law or permitted to do so under applicable privacy laws.
Section E – Direct marketing
16. Direct marketing
16.1 Unless you’ve asked us not to, we may use your personal information to let you know about new or improved products and services and special offers that may be of interest to you.
16.2 If you don’t want us to use your personal information for marketing purposes, please write to us at [email protected].
Section F – Cookies
17. What is a cookie
17.1 A cookie is a small file which asks permission to be placed on your computer’s hard drive. If your computer settings allow cookies, then the file is added and the cookie helps analyse web traffic or lets the site owner know when you visit a particular site.
18.1 Cookies help us provide you with a better website by enabling us to monitor the pages that you find useful and tailor our website to your needs, likes and dislikes by gathering and remembering information about your preferences.
18.2 We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration. This is statistical data about your browsing actions and patterns, and doesn’t identify you or anyone else as an individual.
18.3 We may disclose the data we collect through cookies to our related companies.
19. How to block cookies
19.1 Most web browsers allow you to adjust settings to erase cookies, disallow cookies, or receive a warning before a cookie is set. Please note that some parts of our websites may not function fully if you disallow cookies.
Section G – Cross border disclosure of personal information
20. Disclosing personal information to cross border recipients
20.1 Some of our related companies and third parties that we share information with may be located in Seychelles, the United Kingdom, Cyprus and other countries. We’ll only disclose your personal information to an offshore recipient once we have taken reasonable contractual and practical steps to ensure that:
(a) the overseas recipient doesn’t breach applicable privacy laws; or
(b) you’ll be able to take action to enforce the protection of a law or binding scheme that has the effect of protecting the information in a way that’s at least substantially similar to the way in applicable privacy laws protect the information; or
(c) you’ve consented to the disclosure after we expressly tell you that there’s no guarantee that the overseas recipient won’t breach applicable privacy laws; or
(d) the disclosure of the information is required or authorised by or under an applicable law or a court/tribunal order; or
(e) any other situation that is permitted under applicable privacy laws.
Section H – Adoption, use or disclosure of government identifiers
21. Adoption of government related identifiers
21.1 We won’t adopt a government related identifier (such as your passport, national ID or driver’s license number) as our own identifier unless required or authorised to do so under any applicable law, regulation or court/tribunal order.
22. Use or disclosure of government relatedidentifiers
22.1 Before using or disclosing a government related identifier, we’ll ensure that such use or disclosure is:
(a) reasonably necessary for us to verify your identity for the purposes of doing business with you; or
(b) reasonably necessary for us to fulfil our obligations to a government agency or a state or territory authority; or
(c) required by, authorized or permitted under an applicable law, regulation or a court/tribunal order; or
(d) reasonably necessary for one or more enforcement related activities conducted by, or on behalf of, an enforcement body.
Section I – Access to, and correction of, personal information
23.1 If you’ve provided us with personal information, you have the right to request to access or correct it.
23.2 Requests for access to or correct limited amounts of personal information, such as checking to see what address or telephone number we have recorded, can generally be handled over the phone.
23.3 We’ll respond to your request as soon as we’re able to. In some cases we may ask you to pay an administrative fee to cover costs associated with your request. We’ll confirm the cost with you and confirm that you want to proceed before actioning your request.
23.4 We’ll endeavour to comply with your request within 30 days of hearing from you. To help us respond, please include as much detail as possible about the information that you want to access or correct and, if relevant, how you’d like to access the information.
23.5 We’ll always confirm your identity before providing you with access to your personal information.
24. Exceptions and refusal to give access or correct
24.1 In some circumstances we might have to deny your request for access or correction, or limit the access we provide. In either of these situations, we’ll let you know the reasons for our decision in writing. If you disagree with our decision, you can make a complaint following the process set out in section J of this Policy.
25. Access to a credit report about you
25.1 You have the right to ask for a copy of any credit report we have obtained about you from a credit- reporting agency. However, the best means of obtaining an up-to-date copy is to getin touch with the credit-reporting agency directly, as we may not have retained a copy after we have used it.
25.2 You have a right to have any inaccuracies corrected or, if there’s any dispute about accuracy, to have a note added to your credit reporting agency file explaining your position.
25.3 If we decline your credit application wholly or partly because of adverse information on your credit report, we will let you know and tell you how you can go about getting a copy of your credit report.
Section J – Contacting us and complaints
26.1 If you have any questions or would like further information about our privacy and information handling practices, please contact us by email at [email protected].
27. Making a complaint
27.1 We offer a free internal complaint resolution scheme to all of our clients. If you have a privacy complaint, please contact us using the details above to discuss your concerns.
27.2 To assist us in helping you, please gather all supporting information and any documents relating to your complaint and provide it to us for assessment. We’ll try to resolve your complaint as quickly as possible, and in any event within 30 days of hearing from you. If your complaint takes longer to resolve, we’ll keep you informed of our progress.