Introducing Broker Agreement

These Terms and Conditions of the Introducing Broker Agreement constitute an electronic agreement between you (hereinafter the “IB”) and Unicoin Markets (hereinafter the “Broker”) that applies to the IB’s use of any and all Services, products and content provided by the Broker.

As used herein, the “Broker” refers to Unicoin Markets for Money Broking Business of Unicoin Digital Capital Exchange, including but not limited to, its owners, directors, investors, officers, employees, agents or other related parties, unless otherwise provided herein.

These Terms and Conditions of the IB Agreement contain important provisions, which the IB must consider carefully when choosing whether to visit the website and use the services, products and content of the Broker. Please read these Terms and Conditions of the IB Agreement carefully before agreeing to them.

The IB is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may apply to the IB in connection with the use of any and all Services, products and content of the Broker.

The “Broker” and the “IB” are herein after individually referred to as a ‘Party’ and collectively as ‘Parties’.

Whereas the Broker is offering the IB license to entities and persons, who fulfills the criteria prescribed by the Broker including signing of this agreement. Every such IB shall be eligible to trade and introduce client and trade on behalf of such client in the Broker in accordance with the Rules and Guidelines of the Broker.

Whereas the IB is desirous of obtaining the IB license from the Broker and has completed the Know Your Customer (KYC) and application requirements. Further the IB has agreed to abide by the Rules and Guidelines of the Broker.

Whereas the Broker hereby grants license to the IB subject to the terms and conditions of the Agreement and based on the undertaking of the IB to abide by the Rules and Guidelines of the Broker.


1.1. The Broker hereby grants a license to the IB for trading in the Broker based on the application, KYC, financial details submitted by the IB and undertakings of the IB to abide by the Rules and Guidelines of the Broker. The license shall be effective from the acceptance of this Agreement and continue unless terminated under the terms of this Agreement or by the Broker in accordance with the Rules and Guidelines of the Broker.

1.2. The IB shall be permitted to trade in contract for differences (CFD), option, commodities and forex in the Broker for itself and on behalf of its clients.

1.3. The IB shall be permitted to solicit clients to participate trading in the Broker. The IB shall be responsible for opening and establishing trading account of such clients and completing the formalities for registration with the Broker.

2.1. The Broker has the right to inspect the office of the IB and also have the right to inspect the books of accounts, records, documents and electronically stored data of the clients without any prior notice.

2.2. The Broker has the right to demand and the IB shall pay such fees, charges, advances and deposits in respect of various services which it renders or agrees to render to the IB for the purpose of maintaining the license, trading, clearing and doing any transaction in the Broker.

2.3. The Broker shall specify the exposure limits up to which open position can be taken by the IB. Such limits may be increased or reduced by the Broker at any time in its discretion. The Broker shall take measure to protect its interest in these regards which may, inter alia, include restriction on further trading, closing out open positions and withdrawing or disablement of the trading facility of the IB.

2.4. The Broker has the right to close out and/or liquidate the open position of the IB and/or its clients in case of non-payment of dues by the IB and or its clients towards margins, daily mark to market settlement, final settlement or such other settlement, fees and charges. In such case, any loss cause to the Broker due to the closing out of open position will be recovered from the IB. However, the above shall not prejudice the right of the IB to recover the money from its clients, if the same was happened in view of the defaults of the clients.

2.5. The Broker has the right to withdraw or disable the trading and clearing facility of the IB, without any notice, and also to take disciplinary proceedings, if the IB commits any defaults in payment of fee and deposits, commits any breach of the Rules and Guidelines of the Broker or acts against the interest of the Broker.

2.6. The Broker reserves the right to determine any procedure, take any action, pass any order or directions, impose any fee to protect the interest of the Broker and by signing of this Agreement; IB undertakes to comply with all such decision of the Broker.

3.1. The IB understands the trading and the risks involved in trading in the Broker and shall be fully responsible and assume any losses or liabilities that may arise in connection with the trading, clearing and settlement in the Broker.

3.2. The IB shall comply with the Rules and Guidelines of the Broker and any regulations, circulars or notification issued by the Broker from time to time.

3.3. The IB shall deposit the fund with the Broker, as prescribed by the Broker, securities and margins that may be required to open and/or maintain her/its position and clearing accounts with the Broker. The IB shall also be responsible for maintaining the margins of its client. All such deposits and securities shall be subject to a general lien for the discharge of her/its obligations to the Broker under this agreement.

3.4. The IB shall pay without default the fee for maintaining its license and also the commission, services charges and other fee applicable for trading in the Broker.

3.5. The IB hereby authorize the Broker, should deem it necessary for the protection of the Broker, to buy, sell or close out any part or all of the contracts held in her/its account or the accounts of its clients with the Broker. The IB will also reimburse any or all such incidental expense incurred by the Broker in this regard.

3.6. The IB shall not use Broker’s name or issue, publish or distribute any advertisement, market letter, market research report or other sales literature utilizing or making reference to the name or facilities of the Broker without Broker’s prior written consent.

3.7. In the event that the IB or any its client thereof shall become subject to suspension or restriction by any government authorities, the IB will notify the Broker immediately thereof about such suspension or restriction and the Broker reserves the right to take all such steps against the IB or its clients as may be necessary for it to maintain compliance with the Rules of the Broker without any notice to the IB.

3.8. The IB shall be permitted to trade in CFD, option, commodities and forex on behalf of its client, provided the IB has obtained power of attorney or any authorization as prescribed by the Broker from the client.

3.9. Prior to registration, the IB shall educate the clients about the facilities and the high risk involved in online trading and the liabilities that may arise from such trading. IB should also ensure that the clients are well aware of using the internet tools to carry on online trading.

3.10. The IB shall not give any warranties, false representation or commitments to the clients for trading in the Broker. The IB shall be solely liable to the Broker for any loss or liability that may arise on account of its clients.

3.11. The IB shall provide the statement of its dank accounts as and when requested by the Broker.

4.1. The Broker shall facilitate the trading and clearing facility to the IB.

4.2. The Broker shall register the clients introduced by the IB and also provide trading and clearing facility to such clients, provided the Broker is satisfied with the requirement for registration of such clients.

4.3. The Broker shall maintain all details pertaining to the IB, in strict confidence and shall not disclose the same to any person and/or entity except as required under the law; provided, however, that the Broker shall be allowed to share the details of the IB with the parties and/or entities with the express permission of the IB.

4.4. The Broker shall maintain the records of transaction of the IB and its clients and shall provide a statement thereof to the IB on periodical basis or as and when requested by the IB. The Broker shall also disburse the commission entitled to the IB without any delay and default.

5.1. The IB shall accept and be responsible for all trades executed by the IB and its clients irrespective of whether the order is executed partially or in full in the Broker.

5.2. In the event of non-confirmation of trades by the IB or its clients for any reason whatsoever, all levied margins, mark to market losses (on open position), will be borne by the IB for the unconfirmed trades. In such case, the IB shall pay to the Broker, margins levied by the Broker on the unconfirmed trades. In addition to the above, the Broker shall have an option to call for collateral from the IB, to meet the subsequent daily margin obligation and/or mark to market losses on the unconfirmed trades, the IB shall be obliged to pay the daily margin, mark to market on the immediate succeeding business day when the Broker raises such margin requirement.

5.3. The Broker shall not permit the IB to create any new positions, until receipt of such additional margin requirement. If the IB or its client’s defaults in paying the daily margin, mark to market, if any, the Broker shall be entitled to liquidate or close out all or any of the IB’s and its clients’ positions. Any and all loses and financial charges on account of such liquidation or closing out shall be borne by the IB.

6.1. The IB shall pay the commission and services charges to the Broker for every trade executed by the IB and its clients. In order to centralize and efficient functioning of the commission or service charge distribution system, the IB hereby grants the absolute authority to the Broker to maintain and operate the commission and/or service charge account of the IB, if any.

6.2. The Broker shall have the exclusive right to manage and distribute the commission and/or service charges pertaining to the IB.

6.3. The Broker shall after the distribution of the commission and/or service charges provide a statement of commission to the IB.

6.4. The Broker shall have the right to fix the rate of commission payable by the clients to the Broker and Broker reserves the right to make amendments or revision to the same.

6.5. The Broker shall entitle to revise proportionately its commission and service charges payable by the IB and the IB shall adhere to the same.

6.6. If the IB gives any discounts in commission and services charges, which shall not at no point of time exceed the limit prescribed by the Broker.

7.1. The IB undertakes, agrees and accepts the responsibility and liability of remitting tax of all forms, which fall due from their respective business operations to the government or any other local body, even if such tax is imposed by such government or local body with immediate or retrospective effect and hereby absolves the Broker from any such liability and responsibilities.

7.2. If any deduction to be made from the amount payable to the IB under the laws then the Broker shall make such deduction and a statement thereof shall be given to the IB.

8.1. The IB understands and acknowledges the following known risks and other risks associated with trading in the Broker. This risk stated below does not disclose all of the risks and other significant aspects of trading in the Broker. The IB shall take its own endeavor to understand and assess the risk before trading in the Broker:

8.2. An IB shall participate in trading and also permit its clients for trading only if it clearly understands the nature of the contracts, contract specification, price, margin and the extent of exposure to risk associated with CFD, option, commodities and forex trading. Risk of loss in trading can be substantial and an IB should carefully consider whether trading is appropriate in light of its experience, objectives, financial resources and other relevant circumstances. Thus, trading requires not only the necessary knowledge and financial resources but also the financial and emotional temperament.

8.3. The IB shall be solely responsible for loss arising out of trading in the Broker on its account and also its clients’ account, and the Brokers shall not be responsible for the same and it will not be open for the IB to take the plea that neither adequate disclosure was made nor explained the full risk involved in trading. The IB will be solely responsible for the consequences for each and every trade executed by the IB.

8.4. The effect of "leverage" the amount of margin is small considering the value of the CFD, option, commodity and forex contract so the transactions are 'leveraged' or 'geared'. Trading, which is conducted with a relatively small amount of margin, provides the possibility of great profit or loss in comparison with the principal investment amount. Transactions in trading also carry a high degree of risk; therefore, the IB and its clients should trade with caution by taking into account its financial resources. If the prices move, a trader may lose a part of or whole margin or equivalent to the principal investment amount in a relatively short period of time. Moreover, the loss may exceed the original margin amount.

8.5. Trading involves daily settlement of all positions. Every day the open positions are mark to market based on the closing level of the index. If the index has moves against the trader, the trader would require depositing the amount of loss (notional) resulting from such movement. This margin will have to be paid within a stipulated time frame, generally before commencement of next day’s trading. If an IB fails to deposit the additional margin by the deadline or if an outstanding debt occurs in the trader’s account, the Broker may liquidate a part of or the whole position or substitute contracts. In this case, the IB will be liable for any losses incurred due to such close outs.

8.6. Under certain market conditions, an IB may find it difficult or impossible to execute transactions. For example, this situation can occur due to factors such as illiquidity i.e. when there are insufficient bids or offers or suspension of trading due to price limit or circuit breakers etc.

8.7. In order to maintain market stability, the Broker may change the margin, contract specification and other parameters of trading. These measures may be applied to the existing open positions. In such conditions, an IB will be required to put up additional margins or reduce its positions.

8.8. An IB must itself gather information from the Broker relating to the details of the contracts it plans to trade i.e. the contract specifications and the associated obligations.

8.9. The placing of certain orders (e.g., "stop-loss" orders, or "limit" orders), which are intended to limit losses to certain amounts, may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions may be as risky as taking simple "long" or "short" positions.

8.10. Market conditions (e.g., illiquidity) and/or the operation of the rules of certain markets (e.g., the suspension of trading in any contract or contact month because of price limits or "circuit breakers") may increase the risk of loss due to inability to liquidate/offset positions.

8.11. The IB should familiarize with the protections accorded to the money or other property deposited with the Broker. An IB will not able to recover the money, which is lost in the trading.

8.12. IB should obtain clear information of all commission, fees and other charges with respect to conducting trading in the Broker. These charges will affect the net-profit (if any) in the trade or will increase your loss.

8.13. The Broker offers only electronic trading facilities (online trading facilities), which are computer-based systems for order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. In such circumstances, the IB may suffer losses which cannot be ascertained and recoverable.

The IB shall indemnify and keep indemnified the Broker from and against all harm, loss, damages, injury, penalty, that may be suffered or incurred by the Broker during the course of trading, clearing and settlement and all costs, charges and expenses incurred in instituting and/or carrying on and/or defending any legal proceedings by the Broker as result of or on account of any act of commission or omission or default of the IB in complying with this agreement, any of the provisions of Rules of the Broker or law of the land.

The Broker shall not be liable to the IB or its clients or to any third party for any failure to perform its functions, defaults, latches, or delays happened to the clearing functions to the automatic trading System of the Broker as a result of circumstances beyond the control of the Broker or any act of God. In the event that the functions of the IB are prevented or hindered in consequence of any act of God or circumstances beyond the control of the Broker, the functions of the IB shall be suspended during the period of continuance of any such event. These acts may amongst other things include electrical, communication, computer system failure beyond the reasonable control of the Broker, war, invasion, riot, strike, rebellion, revolution, military or usurped power or confiscation, terrorist activities, nationalization, government sanction, embargo and natural calamities.

All notices and any communication required to be given pursuant to this agreement shall be in writing and shall be delivered personally, or by facsimile or registered mail to the other party. Any notice required to be sent under this Agreement shall be deemed as served and delivered within three day from the date of its posting or sending.

12.1. Either party may by giving 30 days (thirty) written notice to the other party terminates this agreement.

12.2. The Broker may terminate this agreement forthwith, if the IB commits any default or provided any false information for obtaining the license or acted against the anti-money laundering laws.

12.3. Notice of such termination shall be submitted by the terminating party.

12.4. The termination shall not have any effect on the transactions executed before the date of termination by the parties and the rights and obligations of the parties in respect of such transactions continue to subsist till the settlement of accounts in terms of this agreement and/or the terms and conditions as may be prescribed by the Broker on receipt of notice of termination.

12.5. In the event of the death or insolvency of the IB or the IB is otherwise becoming incapable of receiving and paying for or delivering or transferring instruments which the IB has ordered to be bought or sold, the Broker shall close out the transaction of the IB and the IB or his legal heirs or representatives shall be liable for any losses, costs, damages including statutory/regulatory charges, if any and be entitled to any surplus which may result there from.

12.6. In the event of the termination of the IB, the Broker shall provide the broking services to the clients under the terminated IB, and the terms and conditions between the client and the IB of client agreement shall also be terminated. The clients under the terminated IB shall continue their trades under the Broker itself or also entitled to transfer their account to any other active IB after the settlement of its existing account.

12.7. Notwithstanding the above, the Broker reserves, the right to terminate this agreement without assigning reason, if it found that the IB committed any default or acted against the interest of the Broker or is in violation Rules and Guidelines of the Broker.

13.1. This agreement and all the trades, transactions and contracts executed under this Agreement are subject to the Rules and Guidelines of the Broker and Money Broking Regulation of Labuan International Business and Financial Centre (Labuan IBFC). The parties agree that the Courts in Labuan shall have the exclusive jurisdiction irrespective of the location of the parties.

13.2. For the purpose of jurisdiction, all the transactions entered or executed through the online trading system of the Broker shall also be deemed to have been taken place at the city of Labuan and the place of contracting shall be at Labuan irrespective of the location at which the transaction is entered or executed.

14.1. Amicable Settlement: The Broker and the IB shall use their best efforts to amicably settle any dispute, controversy or claim arising out of the Agreement or the breach, termination or invalidity thereof.

14.2. Arbitration: Any dispute, controversy or claim between the parties arising out of the Agreement, or the breach, termination, or invalidity thereof, unless settled amicably, as provided above, shall be referred by either of the parties to arbitration in accordance with Arbitration Rules as prescribed by the Broker for the time being in force, which rules are deemed to be incorporated by reference to this clause.

14.3. The language of the arbitration shall be in English and both the parties agree that arbitration shall be held at the premises of the Broker or any other place prescribed by the Broker.

The parties may for their own purpose, translate this agreement in to any other language for the purpose of explanation of contents of various clauses and definitions of this agreement and where-in this agreement is used for resolving any disputes, it is mutually agreed by the parties that the English version of this agreement shall always prevail.

The Broker reserves the right to amend the terms and conditions of this agreement with the prior notification to the IB. When these terms and conditions are amended, the IB shall state the unwillingness to accept the amended terms and conditions by applying the termination of the IB license within 7 (seven) days of such notification.

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