Risk Disclosure

Introduction

QuiqTech LLC (hereafter the “Company”) is a Company incorporated and registered under the laws of Saint Vincent and the Grenadines.

This notice is provided to inform all Clients and prospective Clients about the risks and warnings associated with trading Financial Instruments offered by the Company. It is essential for individuals to carefully read and comprehend these disclosures before applying for a Trading Account and engaging in trading activities. However, it’s important to note that this document may not cover all risks and aspects related to the Financial Instruments provided by the Company. The purpose of this notice is to offer a general understanding of the risks involved in a transparent and unbiased manner.

While Financial Instruments can be employed for managing investment risks, certain products may not be suitable for many clients due to their high-risk nature. These leveraged products carry a significant level of risk, and there is a possibility of losing the entire invested capital. It’s crucial for clients to assess their suitability and understanding of the risks associated with Financial Instruments. Seeking independent advice is recommended if necessary.

Charges and Taxes

The provision of services by the Company to the Client may be subject to various fees, and it is the Client’s responsibility to be aware of and understand these charges. Before engaging in trading activities, the Client should obtain details of all fees, commissions, and charges for which they may be liable. The Client should also stay informed about any changes in these charges.

If charges are not expressed in monetary terms but, for example, as a percentage or formula, the Client should ensure a clear understanding of their potential implications. The Company reserves the right to change its costs and associated charges at any time, as outlined in the Client Agreement available on the Company’s website.

There is a risk that the Client’s trades in financial instruments may be subject to taxes or other duties, and the Company does not guarantee that no tax or duty will be payable. The Company does not provide tax advice and recommends that the Client consult a competent tax professional for guidance.

The Client is responsible for any taxes and duties that may arise from their trades. If required by applicable law, the Company may deduct amounts at source from payments due to the Client in accordance with tax authorities’ requirements.

The Company’s prices for CFDs trading are set in accordance with its Best Interest and Order Execution Policy, available on the Company’s website. These prices may differ from those reported elsewhere, and the execution price of an order may not directly correspond to real-time market levels. The Client acknowledges that the Company has a right of set-off against any amounts in the Client’s Trading Account for tax deductions.

Third Party Risks

The Company commits to promptly deposit any Client funds it receives into one or more segregated accounts, commonly referred to as ‘clients’ accounts,’ with reputable financial institutions. These institutions could be credit institutions or banks located in third-world countries. While the Company undertakes due skill, care, and diligence in selecting these financial institutions in compliance with applicable regulations, it acknowledges that circumstances beyond its control may arise.

The Company does not accept liability or responsibility for any resulting losses to the Client due to insolvency or any similar proceedings or failure of the financial institution holding Client money. The financial institution may hold Client funds in an omnibus account. In the event of the financial institution’s insolvency or similar proceedings, the Company might only have an insolvency claim against the institution on behalf of the Client. This exposes the Client to the risk that the funds received by the Company from the financial institution may be insufficient to satisfy the Client’s claims.

Insolvency

In the event of the Company’s insolvency or default, there is a possibility that Client open positions may be closed out without the Client’s consent. Consequently, the Client may incur losses as a result of such forced closures.

Technical Risks

The Client and not the Company shall be responsible for the risks of financial losses caused by failure, malfunction, interruption, disconnection or malicious actions of information, communication, electricity, electronic or other systems, which are not the result of gross negligence or willful default of the Company.

If the Client engages in transactions on an electronic system, various risks are associated with the system, including potential failures of hardware, software, servers, communication lines, and internet connectivity. In the event of such failures, the Client’s orders may not be executed according to instructions or may not be executed at all. The Company bears no liability for such failures unless attributable to its gross negligence or willful default. The Client acknowledges the risk of disruptions in services that may result in Client losses due to coordinated attacks by third parties (hackers), and the Company is not liable for Client losses resulting from such attacks if reasonable security measures have been implemented.

The following risks are associated with the use of computer equipment, data, and voice communication networks:

  • Power cuts affecting the Client’s or provider’s equipment or communication operator.
  • Physical damage or destruction of communication channels.
  • Outages or low-quality communication channels.
  • Incorrect settings or untimely updates of the Client Terminal.
  • Non-reception of messages due to communication channel issues.
  • Malfunction or non-operability of the Trading Platform.

The Company is not responsible for any damages or losses resulting from such events which are beyond its reasonable control or for any other losses, costs, liabilities, or expenses (including, without limitation, loss of profit) which may result from the Client’s inability to access the Company’s Website and/or Trading System or delay or failure in sending orders or Transactions, not owed to the Company’s gross negligence or willful default.

The Client is responsible for financial losses resulting from these risks, except to the extent that they arise from the Company’s gross negligence or willful default. The Company makes its best efforts to provide a secure online experience, but the Client acknowledges the inherent risks associated with electronic systems and internet connectivity.

The Client acknowledges that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.

At times of excessive deal flow the Client may have some difficulties to be transmitting orders on the Company’s Platform(s)/system(s), especially in fast Market (for example, when key macroeconomic indicators or news are released).

The Client may suffer financial losses caused by the materialization of the above risks, the Company accepts no responsibility or liability in the case of such a risk materializing and the Client shall be responsible for all related losses he/she may suffer, to the extent that these are not owed to the Company’s gross negligence or willful default.

Trading Platform

The Client is cautioned that trading in an electronic Trading Platform involves the risk of financial loss due to various factors, including but not limited to:

  • Failure of the Client’s devices, software, and poor quality of connection;
  • Hardware or software failure, malfunction, or misuse of the Company’s or Client’s equipment;
  • Improper operation of the Client’s equipment;
  • Incorrect settings of the Client’s Terminal;
  • Delayed updates of the Client’s Terminal.

The Client is aware that only one Instruction is allowed to be in the queue at a time, and further Instructions sent by the Client are ignored until the first Instruction is executed. The connection between the Client Terminal and the Company’s Server may be disrupted, leading to some Quotes not reaching the Client Terminal.

Additionally:

  • Closing the order placing/deleting the window or the position opening/closing window does not cancel the Instruction sent to the Server;
  • Orders may be executed one at a time while in the queue, and multiple orders from the same Trading Account simultaneously may not be executed;
  • Closing an Order does not cancel it;
  • In the case of Force Majeure Events affecting the execution of a previously sent Order, if the Client repeats the Order, there is a risk of making two Transactions instead of one;
  • Modifying the level of a Pending Order in a CFD, after it has been executed, will only modify the Stop Loss and/or Take Profit levels on the position opened when the Pending Order triggered.

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Force Majeure Events

In the event of a Force Majeure Event, the Company may be unable to facilitate the execution of Client Orders or meet its obligations under the Client Agreement. Consequently, the Client may incur financial losses.

As stipulated in the Client Agreement, the Company will not be held liable or accountable for any form of loss or damage resulting from the failure, interruption, or delay in fulfilling its obligations under the Client Agreement when such circumstances are attributed to a Force Majeure Event.

Communication between the Client and the Company

The Client assumes the risk of potential financial losses resulting from delayed or non-receipt of notifications from the Company.

The Client acknowledges that unencrypted information sent via email is vulnerable to unauthorized access.

The Company bears no responsibility in the event of unauthorized third parties gaining access to information, including electronic addresses, electronic communications, and personal data, during transmission between the Company and the Client or while using the internet, other network communication facilities, telephone, or any electronic means.

The Client holds full responsibility for risks related to undelivered internal mail messages from the Company’s Online Trading System.

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