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Terms & conditions

Version 1.0 – April 2018

 

Legal Agreement

THIS IS A LEGALLY BINDING AGREEMENT. IT REGULATES BOTH YOUR AND OUR RESPONSIBILITIES AND LIABILITIES TOWARDS EACH OTHER AND INCLUDES IMPORTANT INFORMATION ABOUT THE SERVICES THAT WE PROVIDE TO OUR CUSTOMERS.

YOU SHOULD READ THIS DOCUMENT CAREFULLY AND ASK FOR INDEPENDENT PROFESSIONAL ADVICE IF ANYTHING IS UNCLEAR OR IF YOU HAVE ANY QUESTIONS.

DO NOT USE OUR SERVICES IF YOU ARE UNCLEAR ABOUT ANYTHING IN THIS DOCUMENT, OR IF YOU DO NOT AGREE TO ANY OF ITS TERMS. IF YOU USE OUR SERVICES, YOU WILL BE DEEMED TO HAVE AGREED TO THIS DOCUMENT, AND IT WILL ESTABLISH A CONTRACT BETWEEN YOU AND US.

THIS AGREEMENT WILL BE GOVERNED BY ENGLISH LAW.

 

Defined Terms

We use some terms throughout this Agreement that have special meanings. They are as follows:

  • Available Funds” means the total amount of funds that you have available to buy Securities using our Services. This amount can be topped up through a transfer of funds from your Nominated Bank Account or through the sale of Securities that you hold through our Services. This amount will decrease when you buy Securities or withdraw funds.
  • Custodian” means a bank or other third party appointed by us from time to time, to hold our clients’ Available Funds or Securities that they have purchased through our Services. Please see the “Use Of Custodians” sections in particular, which provides more information about how we choose Custodians and what would happen if one of our Custodians should be unable to pay any of your funds or Securities that they hold.
  • Cut-Off Time” means the time of day when we stop taking new Instructions for processing that day, as set out in the “How We Execute Buy And Sell Instructions” section below.
  • Freetrade“, “we“, “our” or “us” means Freetrade Limited, our details are set out in the “About Us” section below.
  • Freetrade Account” means a unique account that you will have with us. Your Freetrade Account will contain your personal details, will be linked with your Nominated Bank Account and will contain a summary of transactions you executed using our Services, as well as the amount of Available Funds. It is important that you ensure the security of your Freetrade Account – please see the section on “Account Security” in particular.
  • ForEx Securities” means Securities of companies or undertakings who have their primary quotation (or listing) on markets outside the country in which your Nominated Bank Account is based, or Securities that are priced in a currency that is different from the currency of your Nominated Bank Account.
  • Instructions” means any instruction that we receive from you or from your Freetrade Account, through such means as we may from time to time permit, in which you request us to perform certain activities with respect to your Freetrade Account and/or the Services, including (by way of example) an instruction to buy or sell a Security, or an instruction to transfer some of your Available Funds to your Nominated Bank Account.
  • Loss” means any allegation, claim, cost, expense, damage or other loss of whatever nature, and howsoever arising.
  • Nominated Bank Account” means the bank account nominated by you at the time that you register for the Service, or changed by you from time to time through the Service, from which you will transfer funds to us (that we will add to your Available Funds) and into which we will pay your Available Funds when you make withdrawals through our Services.
  • Services” means the services that we will provide to you, as set out more fully in the “Our Services” section below.
  • Securities” means shares, stocks, bonds or other types of instruments that can be bought or sold through our Services. These change from time to time.

When we use the term “including” or where we give examples does not mean that the specific items we mention are an exhaustive list or that we only mean those specific items.

 

About Us

We are authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 783189). We are a limited company incorporated in England (registration number 9797821), with registered address at 86-90 Paul Street, London UK, EC2A 4NE.

While we are incorporated in England, we may operate our services from locations all around the world – in particular, the systems that we use may be based in other countries. We may also use or rely on third party service providers, agents, contractors, custodians, market and utility providers and others to be able to offer our services and perform our functions. There is no restriction on our ability to use these third parties.

 

Our Services

We will provide you with the ability to buy and sell certain types of Securities, through the use of our app or website, and we will arrange for those Securities to be held on your behalf by our chosen Custodians from time to time. We refer to these as the “Services” that we will provide to you.

Our Services are the same for all of our clients. We do not offer tailor-made services to any of our clients and we do not offer any advice as to whether or not our Services are suitable to any of our clients. It will be your responsibility, at all times, to ensure that the Services we offer (including the functionality that we offer and the way(s) in which we deliver the Services), including any changes to the Services, are suitable to your specific needs and circumstances. If our Services do not meet your needs, you should stop using our Services.

 

Changes To Our Services

Our Services may change from time to time. These changes could include, by way of example only: (i) adding features or functionality to our Services, (ii) removing features or functionality from our Services, (iii) changing the countries whose residents are allowed to use our Services, (iv) changing the look and feel of our website or apps, (v) changing the way in which our Services are delivered, (vi) changing the functionality of these delivery mechanisms, (vii) changing the systems that we use to deliver the Services, and (viii) changing the third parties we use or rely on to be able to deliver the Services. This is not an exhaustive list of the types of changes that we may make.

You will not necessarily be notified of any changes to our Services before we make them, or before they take effect, so you should always make sure that our Services remain suitable to your specific needs and circumstances, and to stop using our Services if that is no longer the case.

If we do make changes to our Services and, as a result, we can no longer offer to provide our Services to you (for example, if we should ever need to remove a country from the list of countries whose residents are allowed to use our Services), we will take reasonable steps to try to notify you of this (by email, through our app or website, or through other means) in advance of the change taking effect. We may not always be able to provide advance notice of such a change. However, that fact that we may not, or may not have been able to, give you advance notice of a proposed change will not stop us from implementing that change.

Your right to use our Services will cease immediately and automatically from the moment that our Services are changed in such a way that we can no longer provide them to you.

You hereby agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising from any changes that we may make to our Services.

 

Securities

The Securities that can be traded using our Service may change from time to time. Currently, the only Securities that can be traded through our Service are shares in listed companies on certain stock exchanges.

We may, from time to time, add to or remove from our Services, certain stock exchanges, specific Securities and/or types of Securities, and/or impose restrictions or limitations on certain Securities and/or volumes of Securities. This means the Securities that you will be able to trade using our Services may change over time.

We do not guarantee that any specific Securities, types of Securities or stock exchanges that may be available at any given point in time will always remain available or accessible through our Services.

We do not, as part of our Service, hold or offer to hold any share certificates or similar instruments.

 

No Investment Or Other Advice

The Services that we offer are what is known as “execution-only” services. That means, we will (subject to the remainder of this Agreement) execute your Instructions without investigating or advising on the suitability or otherwise of the investment or your Instructions.

We do not provide or offer any investment or other advice, including advice on the suitability of any particular investment or investment strategy.

You agree that, by using our Services, you are responsible for your own investment decisions (i.e. the decision to buy, sell, withdraw monies, etc.) and investment strategy and that you have sufficient knowledge and experience to make those decisions, taking into account the risks associated with investments generally or a particular nature. If you are unsure of any investment or investment decision, you should seek the services of a qualified and registered financial adviser before you make the investment or decision.

You agree that, when you provide an Instruction to us through our Services, we will be entitled to assume that you have considered the risks and merits of the proposed Instruction and taken independent advice where necessary.

We may from time to time publish general or specific information or commentary on our app, our website, in the general press, through communications with you or otherwise. You agree that none of that information or commentary will ever constitute investment advice by us, and you should never treat it as such.

You hereby agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising from your decision to buy or sell Securities through our Services or otherwise through the use of our Services.

 

No Assessment By Us

You acknowledge that we do not carry out any assessment of any nature (including the suitability of our Services to your specific circumstances or your requirements or your ability to suffer Losses incurred as a result of market movements) before we allow you to use our Services or before we will act on your Instructions.

 

Risk Warning

By using our Services, you acknowledge and understand that: (i) the Securities available to you through our Services may not be suitable for everyone, (ii) the value of your investments may go up and may go down, and (iii) investment carries an inherent risk that you may lose some or all of the monies that you have invested.

 

Restrictions On Who May Use Our Services

Our Services are available ONLY to consumers (that is, individuals – not companies, partnerships or other entities – who are not in the business of trading Securities) who are over 18 years and who trade for their own account.

Our Services are, in addition, ONLY available to consumers who are usually resident in the United Kingdom.

By using our Services, you expressly confirm and warrant to us as follows: (i) you are doing so in your capacity as a consumer, (ii) you will use our Services only for your own account and not for, or for the benefit of, anyone else, (iii) you are usually resident in the United Kingdom, (iv) you are over 18 years of age, and (v) you will immediately stop using our Services if you are no longer doing so in your capacity as a consumer, or you wish to use our Services for the benefit of someone else, or you are no longer resident in the United Kingdom.

 

Placing Instructions

Through our Service, you will be able to instruct us to buy or sell, on your behalf, Securities that are available for trade through our Service, and to debit and credit monies from and to your Nominated Bank Account (“Instructions“). Our website and app provide the functionality for you to place Instructions – we do not accept Instructions in any other way.

It is your responsibility to ensure that the contents of your Instructions are accurate and complete in all respects. We do not examine or investigate the accuracy of your Instructions and you hereby agree that we may assume, at all times, that your Instructions – as received by us – are correct and reflect your requirements.

You will bear all risk of sending Instructions to us, even if they are incorrect or do not reflect your requirements. You acknowledge and agree that we may execute your Instructions exactly as we have received them, and agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature, to you or anyone else for any Loss that you may suffer as a result of us executing your Instructions as we have received them.

 

Executing Instructions

All Instructions to trade Securities will be executed in accordance with our Order Execution Policy, which you can find on our website. You agree that you have read and agree with our Order Execution Policy.

Our Order Execution Policy may change from time to time. You may not be notified of these changes before they take effect. It is your responsibility to ensure that you reconfirm and accept our Order Execution Policy before you place Instructions with us. You acknowledge and agree that we may assume you have read and agree with our Order Execution Policy each time that we accept your Instructions, and agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature, to you or anyone else for any Loss that you may suffer as a result of your failure to review of our Execution Policy.

If you give us an Instruction to buy Securities or to transfer funds to your Nominated Bank Account, you hereby irrevocably authorise us to deduct those amounts (together with any associated costs or charges shown on our website or our app) from your Available Funds. If you do not have sufficient Available Funds to cover the entire amount set out in the Instruction, plus associated costs and charges, you hereby acknowledge and agree that we will not process that Instruction (specifically, we will not process Instructions in part to cover only the amounts that you have in your Available Funds). You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature, to you or anyone else for any Loss that you may suffer as a result of us not executing Instructions where you did not have sufficient Available Funds to cover the Instruction plus associated costs and charges.

If you give us an Instruction to sell Securities or where you transfer funds to us from your Nominated Bank Account, you hereby irrevocably authorise us to add the proceeds of the sale transaction (less any charges or costs shown on our website or our app) or the amounts that you have transferred to us (as appropriate) to your Available Funds.

 

How We Execute Buy And Sell Instructions for Securities

Where you subscribed for our free Service:

If you have subscribed for our free Service, you should be aware that we will not execute your Instructions immediately when we receive them. We will execute in bulk your Instructions together with all other instructions that we have received from our other clients who subscribe to our free Service before the Cut-Off Time.

Because there will be a delay between the time that you place an Instruction and the time that we execute the Instruction, there is a risk that the price of the Securities you want to buy or sell may change and may be different at the time that we execute your Instruction, compared to the price of that same Securities at the time that you placed the Instruction.

You will have the ability to cancel any Instructions that have not yet been executed by us, by sending us a cancellation Instruction through our website or app. We must, however, receive your cancellation Instruction before the Cut-Off Time – if we receive a cancellation Instruction from you after the Cut-Off Time, that cancellation Instruction will not be processed and we will execute your original Instruction.

There is always a risk that you may not be able to send a cancellation Instruction before the Cut-Off Time or that we may not receive it, including (for example) if our systems are non-responsive, if there is a communications failure or if you are unable to log into your account. You should consider this risk before you place an Instruction that will be executed later.

We strongly recommend that you check to price of the Securities in respect of which you have given us an Instruction, closer to the Cut-Off Time, to satisfy yourself of the price of the Securities in respect of which you have sent us Instructions.

Instructions received by us after the Cut-Off Time on any day will not be processed or executed until the next Cut-Off time.

You hereby agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising from us executing your Instructions at a price that is different from the price that applied at the time that you placed the Instruction, as a result of the way in which we delay the execution of Instructions for clients of our free Service.

Where you subscribed for our paid (premium) Service:

If you have subscribed for our paid (premium) Service, we will execute your Instructions as soon as reasonably practicable after we have received them. Under normal circumstances, there should be no (or very little) delay between the moment that you place the Instruction through our Service and the time that we execute the Instruction.

You will not have any ability to cancel any Instructions once you have sent them to us, so you must ensure that you are satisfied with your Instructions before you commit.

As a result of the way in which we execute Instructions for our paying (premium) clients, the price of the Securities at the time that we execute your Instruction should be the same as the price of the Securities at the time that you placed the Instruction. However, given the speed at which markets move, there may be some movement in the price between those two times. You hereby agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising from us executing your Instructions at a price that is different from the price that applied at the time that you placed the Instruction, as a result of any delay in executing your Instructions or any movement in price in that time.

 

No Right To Cancel

You will be shown a summary of your Instruction before you finally place it with us. It is your responsibility to ensure that your Instructions are accurately reflected, before you finally place the Instruction. Once you have placed an Instruction, you will not be able to cancel it (the only exception is batched Instructions that can be cancelled by another Instruction before the Cut-Off Time, where our free Service is used).

 

Pricing

The prices displayed in our Service at which you may trade Securities are the prices as we receive them from our market data providers, together with all relevant costs and expenses. These prices are subject to constant change and will be updated frequently.

The price at which we execute your Instructions will be the price available to us at the point of execution, as provided by our market data providers. We are not responsible for any movements in the market between the time that your Instruction has been placed and the time that your Instructions are executed.

We do not validate that the prices for Securities, as we receive them from our market data providers, are correct or accurate, or that they are the best prices available in the market. We assume no liability if the prices we receive from our market data providers and published on our Service are incorrect or not the best prices in the market.

In the unlikely event that the prices displayed through our Services are incorrect (including, by way of example, if the prices displayed are wrong as a result of a systems error or incorrect prices received by us from our market data providers), we reserve the right to take all steps that we in our sole discretion believe are necessary or appropriate, including to cancel all affected but unexecuted Instructions that use those incorrect prices, and to reverse executed Instructions that used those incorrect prices. We will use reasonable endeavours to notify you if we intend to take, or have taken, this type of action.

You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising if the price at which we execute, as provided by our market data providers, is incorrect or not the best available price in the market, or arising through remediation efforts we take if we become aware that the prices published through our Service were incorrect.

 

Confirmation Of Instructions

We will send you a confirmation of each Instruction that you have placed with us, which will include a summary of the Instruction details. This confirmation will be displayed in your Freetrade Account. However, there are many reasons why you may not receive a confirmation (for example, if there is a system or communications issue, or if you are unable to connect). The fact that you may not have received a confirmation of your Instruction does not mean the Instruction was not placed with us.

 

Your Nominated Bank Account

You are required to nominate a bank account located within the United Kingdom, at the point in time that you register for our Services. This will be your “Nominated Bank Account” from which we will accept transfers of funds and to which we will transfer your funds, based on your Instructions.

You may change your Nominated Bank Account to another bank account located within the United Kingdom, using the mechanisms that we provide for this purpose as part of our Services.

We do not currently accept bank accounts outside of the United Kingdom, bank accounts denominated in a currency other than Pounds Sterling or joint accounts.

You hereby confirm and warrant that you are the sole account holder of your Nominated Bank Account, and that you are authorised to allow us to accept funds transferred from that Nominated Account and to transfer funds into your Nominated Bank Account.

 

Use of Custodians

We use third party Custodians to hold all our clients’ funds (including your Available Funds) and Securities for them. In the case of Securities purchased by you through our Services, we may use our own nominee company, Freetrade Nominees Limited. We require those Custodians to hold your Available Funds and Securities in accordance with the rules of the Financial Conduct Authority in the United Kingdom.

We will conduct reasonable investigations and make reasonable enquiries concerning the financial standing of our Custodians before we appoint them, and will continue to use reasonable endeavours to monitor their financial standing and general conduct of their business for so long as they remain appointed by us.

The decision as to which Custodians to use, including changes to Custodians, will rest solely with us.

While we will typically use Custodians that will hold our clients’ funds (including your Available Funds) and Securities in the United Kingdom, we may also, in our sole discretion, appoint Custodians to hold funds and/or Securities abroad. We will use reasonable endeavours to ensure that the level of protection afforded by Custodians who hold funds and/or Securities abroad will be materially the same as the level of protection afforded by our Custodians who hold funds and/or Securities in the United Kingdom, however you should be aware that there may be differences.

You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any loss of or reduction in your Available Funds or Securities while held by our Custodians (including if one of our Custodians should become insolvent or otherwise unable to transfer your Available Funds or Securities) or for any delay in those Custodians transferring your Available Funds or Securities based on your Instructions. We will, however, use all reasonable endeavours to assist in efforts to recover your Available Funds or Securities, should there be a loss of or reduction in your Available Funds or Securities while held by our Custodians.

 

Your Securities

The Custodian that holds your Securities that you have acquired through our Services will have legal title to those Securities – in other words, the Custodian’s name will appear on all registers, etc. that show who the owner of those Securities are. However, you will be the beneficial owner of those Securities – in other words, as between you us and the Custodian, you are the ultimate owner of those Securities.

Where we are formally informed of an event in relation to your Securities that allows the holder of those Securities to vote on any matter, we will use reasonable endeavours to inform you of your right to vote, as soon as reasonably practicable after we have been informed thereof. We will allow you a mechanism to Instruct us how you wish to exercise your vote and we will inform you of the deadline by which we need to receive your Instructions (which may be a deadline earlier than the deadline by which the vote closes). We will use reasonable endeavours to inform the Custodian how they should exercise your votes (in accordance with your Instructions) but are not liable for any failure by the Custodian to do so.

To the extent that your Securities entitle the holder thereof to any proceeds (for example, dividends or interest) we will, promptly after having been informed of those proceeds, use reasonable endeavours to collect those from the relevant Custodians and credit your Available Funds accordingly, once we have received those proceeds in cleared funds.

We are under no obligation to initiate or defend any legal action (including class action), join any shareholder action, or take any action with respect to your Securities (other than as set out above) that will require us to incur any expense – and we are not obliged to require any Custodian to do so – in respect of Securities that you hold through our Services.

 

Interest On Your Available Funds

Your Available Funds will not attract any interest, even if they are in credit. You acknowledge that we may receive interest on all of our clients’ funds held by our Custodians, and hereby waive your right to claim payment of any part of such interest.

 

How We Execute Instructions To Withdraw Funds

When you send us an Instruction to withdraw funds from your Available Funds, we will only act on Instructions to transfer the amount you have decided to withdraw to your Nominated Bank Account. We will not accept any Instruction to transfer any of your Available Funds to any source or account, other than your Nominated Bank Account.

Our responsibility, when you send us an Instruction to withdraw from your Available Funds, is to instruct our bank, custodian or third party to transfer those funds to your Nominated Bank Account. We are not responsible for any delays in the transfer of funds.

You hereby irrevocably agree that, if we transfer funds to your Nominated Bank Account, we will have fulfilled our duties to you in respect of that transfer.

You may be responsible for fees and expenses that your bank imposes on you in respect of the transfer of funds to your Nominated Bank Account.

 

ForEx Securities

The following special terms apply in relation to all Forex Securities, in addition to the other terms of this Agreement.

Since ForEx Securities are denominated in currency different from the currency of your Nominated Bank Account, we need to arrange for a foreign exchange conversion at the point in time that the Instruction to buy or sell those ForEx Securities is executed.

We will convert Instructions for ForEx Securities into the currency of your Nominated Bank Account, and display the converted price, at the time that you are requested to confirm the Instruction. This price will include the cost of converting the price from the currency of your Nominated Bank Account into the currency of the ForEx Securities as well as the conversion rate that we apply.

For Instructions that are batched for execution after the next Cut-Off Time, the price we show is in indicative price and the actual converted price may vary, depending on movements in the foreign exchange markets between the time that you placed the Instruction and the time that the Instruction has been executed.

Where any additional information is required in relation to any Instruction related to ForEx Securities, such as tax information, you agree to provide that information to us promptly when we request it, and undertake to provide accurate, complete and not misleading information. Where this information is required to be provided before an Instruction can be placed or executed, you agree to provide that information to us as a condition to us accepting the Instruction for execution.

You should be aware that transactions in relation to ForEx Securities will be executed at such times as the relevant market dictates. These times may be different from the usual times at which transactions in relation to Securities will be processed, and may be at times that differ from the usual Cut-Off Time. As a result, there may be a difference in the price for the ForEx Securities at the time that your Instruction has been executed and the time that you have placed your Instruction.

You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising if the price at which an Instruction for ForEx Securities is different at the time of execution compared to at the time that the Instruction was placed.

 

Availability Of The Services

While we target to have our Services available without interruption, we cannot guarantee that our Services will always be accessible by you, always available, always functioning properly or error-free.

We may, from time to time, suspend our Services to perform routine or emergency maintenance or to upgrade or replace our systems. Where this is the case, we will use reasonable endeavours to notify you of any planned downtime, however we may not always be able to provide you with advance notice.

Because we do not offer a phone dealing service, if our Services are unavailable for whatever reason, or if you are unable to communicate with our Systems, this may affect your ability to trade through our Services, withdraw funds, cancel Instructions before they are executed and/or otherwise send us Instructions. You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising as a result of your inability to access our Services, whatever the reason or cause for that inability.

 

Account Security

You are responsible for ensuring that your Freetrade Account cannot be accessed by third parties. We are entitled to assume that any Instruction received by us from your Freetrade Account is a valid Instruction, issued by you – even if the Instruction was issued by someone who gained unauthorised access to your Freetrade Account.

You must keep your login details and passwords that you used to access your Freetrade Account, safe and secure and not allow any other person to know or obtain those details. If you have lost your login or password details, or you suspect your login or password details have been compromised, you should immediately inform us and change your details via the Service.

We recommend that you use appropriate, up-to-date security software and definitions to reduce the risk that your system will be susceptible to unauthorised access and intrusion.

You must install the attest version of any apps that we publish from time to time. These updates often include improved security or fixed for recently discovered vulnerabilities.

You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising as a result of your failure to keep your Freetrade Account (including login and password details) secure, or from any unauthorised access to your Freetrade Account as a result of malicious code (such as computer viruses or Trojans) or your failure to update to the latest version.

 

Suspension Of Account

We may suspend your Freetrade Account and/or the execution of any Instructions before they have been executed, at any time and without notice to you, on any reasonable grounds, including: (i) if we have reason to believe that you have not complied with this Agreement, (ii) if we are required or requested to do so by any regulator, law or other authority, (iii) if we have reason to believe our continued association with you would bring us into disrepute or cause us to breach any applicable laws, regulation or guidance (iv) if we have reason to believe that your Freetrade Account has been compromised; or (v) if have reason to we believe the Instruction did not originate from you or, if implemented, would contravene any applicable laws, regulation or guidance.

You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising as a result of any suspension of your Freetrade Account.

 

Suspension Of Services

We may, in our sole and absolute discretion, suspend the Services (or any part thereof) or any particular way of delivering the Services (e.g. via app or website), for so long as we decide may be appropriate and for any reason whatsoever.

You agree that neither Freetrade nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any Loss arising as a result of any suspension of the Services.

 

Your General Obligations

You agree that you will use your Freetrade Account and issue Instructions at all times in accordance with all applicable laws and regulations. You will, in particular, but without limitation, not: (i) engage in any practice that is considered to be market abuse or (ii) use your Freetrade Account or issue any Instructions in connection with any attempt to launder money or avoid applicable sanctions against any person, company or country.

 

Termination – by you

You may terminate your Freetrade Account at any time and for any reason by giving us notice. Notice of termination will not affect any Instructions that have yet to be executed – we will continue to execute those Instructions in accordance with its terms and this Agreement (which may include refusal to execute any such Instructions).

 

Termination – by us

We may terminate your Freetrade Account at any time and for any reason by giving you notice. Notice of termination will not affect any Instructions that have yet to be executed – we will continue to execute those Instructions in accordance with its terms and this Agreement (which may include refusal to execute any such Instructions).

 

Consequences of Termination

If your Freetrade Account has been terminated for whatever reason, then (unless we are prohibited from doing so by any applicable law or regulation), we will arrange for your Available Funds (less any applicable costs and expenses) to be transferred to your Nominated Bank Account and will not accept any further Instructions.

We may retain a copy of all records related to your Freetrade Account and Instructions you have sent to us, in accordance with our record retention policies and otherwise as required by any applicable law or regulation.

 

Getting In Touch With Us

If you need to get in touch with us about anything, you can email us, or alternatively you can access our chat function through our app or our website. We do not currently offer a dedicated phone helpline.

We will do our best to respond to any emails as soon as we are able to, and aim to reply to all emails within one business day. However, there may be times when it takes us longer to reply to email, and sometimes emails get delayed or lost through no fault of ours, so if your query is urgent please use our chat function instead (or in addition to an email).

Our chat function is usually available during normal working hours and queries will be addressed on a “first come, first served”-basis.

 

Quarterly Statements

We will send you a quarterly statement to your nominated email address, to reflect the Securities that you hold via our Services, your Available Funds and other details as may ay decide from time to time.

 

IP / trade marks

All rights, including all intellectual property rights of whatever nature, in connection with our Services, our website, our apps, information in your Freetrade Account and otherwise howsoever (including our marks, designs and logo) will be owned by us, absolutely. You agree to transfer and assign to us, at our request and for no payment or consideration, any rights (including intellectual property rights of whatever nature) in connection with our Services, our website, our apps, information in your Freetrade Account and otherwise howsoever (including our marks, designs and logo) that may vest in you at any time.

We hereby grant to you a personal, non-transferable, revocable licence to use our Service, app and website, for so long as you remain a client until your Freetrade Account is terminated for whatever reason. You may use these only for the purpose of using the Services and for no other purpose whatsoever.

 

Changes To This Agreement

We may, from time to time, update or make other changes to the terms and conditions of this Agreement. We will use reasonable endeavours to inform you of those changes. If you do not agree with those changes, you should stop using our Services and terminate your Freetrade Account. We will assume you agree with changes to this Agreement if you continue to use our Services after those changes have been made.

 

Liability

This Agreement sets out, in various places, events for which we do not assume any liability. You should read the Agreement carefully to understand the circumstances in which we accept no liability.

We will only be liable to you in connection with the Services that we provide or this Agreement, in the following circumstances, namely where: (i) this Agreement does not exclude or limit our liability, and (ii) we have been negligent or in wilful default of our obligations under this Agreement.

You agree that we will under no circumstances be liable for any: (i) consequential, indirect, incidental or special Losses; or (ii) economic loss, loss of profit, loss of business, loss of revenue or trading losses of whatever nature, in each case that result from or relate to your use or our provision of the Services or this Agreement, even if you have advised us of the possibility of such Loss.

We are not liable for any delays in the Services, including the execution of Instructions or settlement of orders, or for market movements between the time that an Instruction was placed and the time it was executed.

We are not liable for any Loss or failure to provide the Services, caused by any event outside our reasonable control, including

You are responsible for payment of all appropriate taxes. We are not liable for any Losses that arise from any taxes imposed on you as a result of your use of our Services, or for any changes in tax rates.

Nothing in this Agreement limits or excludes our liability for: (i) death or personal injury caused by our negligence; (ii) our own fraud; or (iii) Losses that we cannot limit or exclude under applicable laws.

You agree that, in providing the Services and acting on your Instructions, we do so in accordance with your Instructions. You hereby indemnify us against any Losses arising from any claim against us as a result of or in connection with our execution of your Instructions.

 

Personal Contract

This Agreement is a personal contract between us and you. You are not allowed to assign any of your rights and transfer any of your obligations under this Agreement to a third party.

We, on the other hand, ay transfer or assign this Agreement and all of our rights and obligations to any other person who, from time to time, operates or acquires the Services.

 

Whole Agreement

This Agreement constitutes the entire agreement between you and us with respect to its subject matter, to the exclusion of any warranties, conditions or terms implied by applicable law.

 

Waiver

No failure of either of us to exercise, and no delay by it in exercising, any right, power or remedy in connection with this Agreement (each a “Right“) shall operate as a waiver of that Right, nor shall any single or partial exercise of any Right preclude any other or further exercise of that Right or the exercise of any other Right.

 

Third Party Rights

No person who is not a party to this Agreement shall have any rights under this Agreement or will be able to enforce any term of this Agreement.

 

Invalidity

If any provision in this Agreement shall be held by a court or administrative body of competent jurisdiction to be illegal, invalid or unenforceable, in whole or in part, the provision shall apply with whatever deletion or modification is necessary so that the provision is legal, valid and enforceable and gives effect to our commercial intention. To the extent it is not possible to delete or modify the provision, in whole or in part, then such provision or part of it shall, to the extent that it is illegal, invalid or unenforceable, be deemed not to form part of this Agreement and the legality, validity and enforceability of the remainder of this Agreement shall, subject to any deletion or modification made, not be affected.

 

No Partnership

This Agreement does not set up or create a partnership of any kind, an association or trust between us or makes either of us the agent of the other.

 

Dispute Resolution

The Courts of England & Wales shall have exclusive jurisdiction over all disputes arising under this Agreement.

 

Governing Law

This Agreement is governed by English Law.