TERMS AND CONDITIONS

These are the entire terms and conditions that apply to the use of this website and any services provided hereto. Use of this website and/or the services provided hereto (the "Services") are all subject to these terms and conditions (these "Terms and Conditions"). If You have objections to the terms and conditions stipulated hereto, do not use our Services in any way. Your access to and use of this website constitutes your acceptance of these Terms and Conditions and any other legal notices and statements contained on this website. Your use of the RETAILFX/eToro websites is governed by the version of the Terms and Conditions in effect on the date each eToro website is accessed by You. Please feel free to contact our customer support team at http://www.etoro.com/application/help/contact.aspx for any clarifications before You continue to use this website.
We reserve the right to modify these Terms and Conditions at any time. When these Terms and Conditions are modified We will publish in our website and/or otherwise notify You of such change, each of which notification shall be deemed as sufficient notice. Therefore you should review this page from time to time so that you will be aware of any such modifications. Your continued use of the RETAILFX/eToro websites and Services after the publication of any changes shall be considered as your agreement to such modified Terms and Conditions and shall be governed by those Terms and Conditions as modified. If you do not wish to be bound by those changes, you should cease to use the RETAILFX/eToro websites and Services. Various RETAILFX/eToro websites, areas of such websites and/or Services may have different terms of use posted. If there is a conflict between these Terms and Conditions and those specific terms of use, the latter shall have precedence with respect to your use Various RETAILFX/eToro websites.

CUSTOMER AGREEMENT

These Terms and Conditions is made between yourself ("You") and RETAILFX LIMITED (also trading under the name "eToro" hence forth "Us" or "We" or "RETAILFX"). These Terms and Conditions describes to You in full detail the terms and conditions which You must accept without restrictions or objections before using our Services. Before You use our Services and before You become a customer of RETAILFX, You must fully understand and agree to all the terms and conditions expressly explained and/or implied hereto by reference. Notwithstanding anything to the contrary, by continuing to use our Services You are implying that You have read these Terms and Conditions and have unconditionally accepted without reservation the Terms and Conditions in their entirety.
These Terms and Conditions was published on and last updated on November 12th, 2011.

1. Services, Registration & Accounts

1.1. Scope of Services. These Terms and Conditions covers the entire scope of Services provided by RETAILFX including, but not limited to, the use of our website, the use of our RETAILFX trading Services, data collection and storage practices, downloadable material from our website, financial information published on our website (either by Us or by any affiliated party), electronic content, real time information about the exchange rate of some currencies, tools for executing transactions in the foreign exchange market on the internet, by phone or fax and any other features, content or services that We may add in the future. These Terms and Conditions covers any form of communication between Us and You including email, telephone, fax and more.
1.2. Registration. At any given time, starting from the date of your registration with Us We may ask You to provide personally identifiable information. RETAILFX reserves the right to limit, block access to the Services and/or terminating the user account if such information is not provided. If You choose to provide Us with the information and register with Us as our customer, You are confirming to Us that any information provided is true, accurate, updated and complete information about yourself. Additionally, You agree that You will not impersonate any person or entity, misrepresent any affiliation with another person, entity or association, use false headers or otherwise conceal your identity from RETAILFX for any purpose. If You are registering as or for a business entity, You hereby declare that You have the authority to bind that entity to these Terms and Conditions. We apply strict security procedures and undertake to treat the information that You provide Us with care in accordance with our Privacy Policy. Please note that when You register with Us You will choose a user name and password that will personally identify You each time You log on to our system. Your username and password should be kept confidential at all times. It is your sole responsibility to safeguard this information. If the security of the above username and password is breached or if You suspect that they are being wrongfully used – please contact Us immediately at http://www.etoro.com/application/help/contact.aspx.
IMPORTANT NOTE - RETAILFX DOES NOT ACCEPT ANY TRADING FROM CUSTOMERS IN THE USA, CANADA OR TURKEY.
RETAILFX RESERVES THE RIGHT TO IMPOSE ADDITIONAL REQUIREMENTS OR PRE-CONDITIONS TO ACCEPT CUSTOMERS RESIDING IN OR FROM SPECIFIC COUNTRIES IN ITS SOLE AND EXCLUSIVE DISCRETION.
1.3. Eligibility. It is a pre-condition that our Services are only used and contracts are only formed by those who are permitted to enter legally binding agreements. Therefore, if there is any reason why You would not be able to enter a legally binding agreement with Us, for whatever reason - do not use our Services. Such reasons could include, but are not limited to persons that have not yet reached the age of 18 or are defined as minors that have not yet reached legal age. Due to our internal policies, We only permit people with sufficient experience, knowledge and understanding in financial investment, who possess the personal ability of identifying good investments and distinguishing bad investments, and who fully understand the risks associated with financial investments, independently from any information that they may have read on our website, to use our Services. If You do not possess such knowledge independently, do not use our website. Notwithstanding any of the above, the above mentioned eligibility restrictions shall only apply in cases where the Services involve the use of real money. The above restrictions shall not apply to use of any practice application not associated with real money transactions. Trading activity with RetailFX might be illegal in some jurisdiction and We encourage traders from Canada, Brazil, India and Turkey to check local regulations and consider it before deciding to trade with RetailFX Ltd.

1.4. Identification
1.4.1. General. We are obligated by law to confirm and verify the identity of each person who registers on our system and opens an account with Us. Therefore, You will be prompted to provide Us with the following information when You register with Us: (1) name, (2) address, (3) date of birth, and any other personally identifiable information that We may ask for from time to time such as a copy of your Passport or other identifying documents.
1.4.2 Death of Account Owner. Upon the death of an account owner and if the legal heirs of such account owner would like to withdraw the remaining balance in the account, to the extent there is any, such legal heirs should present to Us official legal documents from the applicable governmental authorities in the jurisdiction of the deceased to our satisfaction, and We, in our sole discretion and upon checking such documents, shall make the decision whether to allow such withdrawal.
1.5. Representations and Warranties
1.5.1. You represent, warrant, covenant and agree that:

You are at least 18 years old, or the age of legal consent for engaging in financial investment activities under the laws of any jurisdiction that applies to you
You are not politically exposed person and You do not have any relationship (e.g., relative, associate etc.) with a person who holds or held during the last 12 months any public position. If the above statement is untrue or inaccurate with respect to You, please inform our customer support team at http://www.etoro.com/application/help/contact.aspx and RETAILFX shall inform You if/how You may continue to use our Services.
You shall be treated as a "Retail Client", unless RETAILFX shall classify or reclassify You as a "Professional Client" or an "Eligible Counterparty", depending on the information that You shall provide when completing the registration process or thereafter. IF You desire to be re-classified or receive further information, You can find more information on http://www.etoro.com/trade/etoro-and-brokers.aspx.
Please see information on safeguarding Clients rights under Regulatory Disclosures at http://www.etoro.com/trade/etoro-and-brokers.aspx#22
You are of sound mind and You are capable of taking responsibility for your own actions.
All the details that You have submitted to Us or any details given to Us when opening an account and making a deposit are true, accurate, complete and match the name on the payment card and/or payment accounts in which You intend to deposit or receive monies from your account.
You have verified and determined that your use of the Service does not violate any laws or regulations of any jurisdiction that applies to You.
From time to time You may be requested to provide Us with certain documents to verify the details of the credit card used by You to deposit monies to your account. Subject to our satisfaction from the above documentation checks, You may or may not be permitted to deposit further monies by recurring credit card or other means of payment.
The penalty for providing untrue, inaccurate, misleading or otherwise incomplete information is your immediate breach of these Terms and Conditions. As such, We reserve the right to terminate your account promptly and to prevent You from using our Service.
RETAILFX may elect to provide You with documentation, information and communications in various languages. By accepting these Terms and Conditions You acknowledge and confirm that RETAILFX's official language is the English language, and in the event of any discrepancy or inconsistency between any documentation, information and communications in any language other than the English language and the same in the English language, the English documentation, information and communications shall prevail.
RETAILFX reserves the right to communicate with You by telephone, facsimile, email, posts, newsletters issued by Us and/or any other mean of communications, whether such communication is personally addressed to You or generally addressed to all Our clients. By accepting these Terms and Conditions You acknowledge and confirm that all such means of communications are deemed acceptable and any information or notification so provided shall be deemed to have been received by You and/or any transaction so executed shall be deemed final and binding on your part.
RETAILFX reserves the right to reject the appointment of any representative/power of attorney authorized to act in your account and may elect to dismiss and/or reject and transactions performed by such representative/power of attorney.

1.5.2. We shall not be responsible for any of the following situations:

Unauthorized real money transactions.
Unauthorized real money transactions conducted by unauthorized minors.
Physical Verification that You possess the proper knowledge and/or experience to use our Services. We will not be responsible in any way (including for damages and losses caused by the use of our Services) if You use this website without the proper knowledge and We reserve the right to asses and reassess Your knowledge and experience to use our Services.
US, Canadian and Turkish residents may not use this website; however, they may register and Practice in the Demo system.

1.6. Limited License
Subject to the above registration and eligibility requirements, We hereby grant You a personal license (a "License") that is non-transferable, non-exclusive, limited to the terms of these Terms and Conditions and fully revocable to use our Service (including the use of our website and any associated downloadable software) subject to the terms of these Terms and Conditions. You will also be subject to the End User License Agreement of eToro Group Limited that is associated with downloading any software from our website and is attached herewith and forms a part of these Terms and Conditions.
1.7. Payments
1.7.1 You may deposit funds into your trading account at any time. Deposits will only be accepted by a payment method (e.g. bank account, e-wallets etc.) in the same name as yours. Under no circumstances will third party or anonymous payments be accepted.
1.7.2. We have the right to refuse payment by check if any payment given has not cleared on the first presentation.
1.7.3. If You give an instruction to withdraw funds from your trading account, We will reduce the requested funds immediately from your account balance and shall process the specified request within up to five (5) business days once the instruction has been accepted, if the following requirements are met:
(a) The withdrawal instruction includes all necessary information;
(b) The instruction is to make a payment through a payment method in your name (e.g. bank account, e-wallets etc.); and (c) You have provided full identification documents to support your request
1.7.4. If We accept any payments to be made by a debit card, credit card or any other payment method that may charge processing fees, We reserve the right to levy a transfer charge.
1.7.5. If You make a payment, RETAILFX shall credit your trading account with the amount of such payment pursuant to our policy, if RETAILFX is satisfied that You are the sender of the funds. Credit in your trading account shall be denominated only in United States Dollar.
1.7.6 We reserve the right, without prior notice to the trader, to make any currency conversions which We consider necessary or desirable for the purposes of complying with its obligations or exercising its rights under these Terms and Conditions or any transaction. Any such conversion shall be effected by Us in such manner and at such rates as We may in our discretion determine, having regards to the prevailing rates for freely convertible currencies.
1.7.7 All foreign currency exchange risk arising from any transaction or from the compliance by Us with our obligations or the exercise by Us of our rights under these Terms and Conditions will be borne by You.
1.7.8 If RETAILFX is not satisfied that You are the sender of the funds it reserves the right to reject the funds and return them to the remitter net of any transfer fees or other charges. You may be required to submit additional documentation as required by Anti-Money Laundering regulations and any other similar regulations applicable to Us.
1.7.9 We shall not be obliged to pay You interest on any funds held by Us on your behalf and You waive all rights to interest.
1.8. Several Trading Accounts
In case a trader has more than one trading account, We reserve the right to treat all such accounts as if they were under one account and to limit the number of account maintained under a single household, at Our sole discretion.
1.9. Deposits and Withdrawals

RETAILFX reserves the right to impose deposit limits and deposit fees in its system.
When a withdrawal is performed, RETAILFX reserves the rights to refund traders via any of the payment methods they used when initially funded their trading account.
RETAILFX reserves the right to impose withdrawal limits and withdrawal fees in its system.
Withdrawals are paid through the original payment method that You used to deposit the money, subject to Our service providers' rules and regulations. If We are unable to send the funds or any partial amount thereof back to the original payment method, We reserve the right to pay the amount through an alternative payment method indicated by You in United States Dollars (regardless of the currency in which the deposit was made). RetailFX shall not be held responsible for any transfer fees or charges charged by the receiver and/or any currency exchange rates resulting from the payment of such amount in United States Dollars.
Upon submitting a withdrawal request You may be required to submit documentation as required by our AML regulations.
According to Anti Money Laundering procedures any withdrawal request will be paid to the same individual that has submitted the deposit.

1.10. Administration Fees for Dormant Account
In the event that no trading activity has been executed in your Account for a period of at least six months, We will regard your account to be dormant. An account shall be deemed as dormant from the first day following the last day of the sixth month in which no trading activity was executed. Once an Account is deemed dormant, any available trading bonuses shall be removed from the account and We shall deduct a monthly fee equal to the lower of $5 (Five Dollars) or 10% of the funds in the account on the date that it became dormant. Such monthly fees shall be deducted until the balance of the account has reached zero and dormant account with a zero balance will be closed. In the event that You execute at least one trade in your account following the date your Account became dormant, RETAILFX will cease to deduct the monthly fee unless your Account shall become dormant again, but shall not refund any administration fees already deducted from the account prior to such trade.

2. Intellectual Property

All our intellectual property assets ("IP") including but limited to all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme and graphics are our sole and exclusive IP and are all protected by local and international intellectual property laws and treaties including all copyright laws and regulations. Under no circumstances shall You remove any copyright notification from any of our IP or unlawfully use our downloadable software. The use of our Services does not grant You any rights other than those granted to You by revocable License in any way. We own all the images displayed on our website and software. You may not use these images in any way other than the manner which We provide them. Should You wish to use any of our images for any other purpose You must obtain prior written consent from Us in advance. Nothing contained on our websites shall be construed as granting, by implication or otherwise, any license or right to use any trademark without our written permission or such third party that may own the trademarks.
Except as expressly stated herein, You may not without our prior written permission alter, modify, reproduce, distribute or commercially exploit any materials, including text, graphics, video, audio, software code, user interface design or logos, from this or any of our websites.
If You link from another website to one or more of our websites, your website, as well as the link itself, may not, without our prior written permission, suggest that We endorse, sponsor or are affiliated with any non-eToro website, entity, service or product, and may not make use of any of our IP other than those contained within the text of the link.

3. Content, Personal Data and Communications within the eToro Community

3.1. Content and Personal Data
3.1.1 By acceptance of these Terms and Conditions, You agree and acknowledge that You username, your picture/avatar (if provided), your state of residency, gender, networks, list of users who follow You, users who copies You etc., list of users You follow or copy, and any network status/posts/blogs and any other content options that enable our users to interact amongst themselves, including without limitation content and information You post on the eToro Open Book, comments, feedback, postings and/or all Information that You provide to Us via our website and/or by email, fax or telephone shall be considered non-confidential and non-proprietary information (other than your personal data as described below, collectively, the "Content"). All portfolio and trading information performance results shall be considered non-confidential and non-proprietary information and as eToro property. By providing such Content, You specifically grant Us a non-exclusive, irrevocable, transferable, sub-licensable, royalty-free, worldwide license to use, copy, duplicate store, present and/or publish all or any part of your Content, and We shall be free to use such Content in any manner or media whatsoever, on an unrestricted basis and without any attribution or royalties or other compensation to You.
3.1.2 Your telephone conversations, email/chat communications with Us may be recorded/maintained by Us. Any recordings shall be and remain Our sole property and will be accepted by You as conclusive evidence of their content as recorded by Us. You agree that We may deliver copies of transcripts of such recordings to any court, regulatory or government authority, including without limitation, in disputes which may arise between You and Us.
3.1.3 By entering into these Terms and Conditions, You are consenting to the transmittal of your personal data (i.e. your personally identifiable information and your payment details) to other companies in the eToro group and to external companies to help Us to process and/or analyze it as part of the provision of Services to You whether within or outside the European Economic Area. Such personal data may also be used for marketing purposes, or to conduct market research for Us or other companies in our group that may use the personal data to bring to your attention products and services that may be of interest to You and also to assist in the efficient provision of the Services.
3.2 Communications within the eToro Community; Links to Third Party Websites, Newsletters etc.
3.2.1 You acknowledge that You are responsible for any Content, information and material that You submit or transmit through any of our websites, applications and/or any network status/posts/blogs and any other communications and/or content options available by Us, including your responsibility as to the legality, reliability, appropriateness, originality and copyright of any such information or material. Additionally, You represent and warrant that: (i) You own all right title and interest in any Content provided by You, and (ii) the posting of your Content by Us (in any manner or media whatsoever, on an unrestricted basis) does not (and will not) violate the privacy rights, publicity rights, copyrights, contract rights or any other rights of any individual or make derogatory remarks regarding, defame or otherwise criticize any person or entity. You shall be solely liable for any damage resulting from any infringement or other violation of the copyrights, trademarks or other proprietary rights of any individual or entity, and for any other harm or losses resulting from any Content.
3.2.2 In our efforts to promote collegial, non-misleading and non-defamatory communications between the members of the eToro OpenBook community, You are strictly prohibited from: (1) making statement as to your eligibility to provide investment advice, portfolio management and/or any other services and/or activity which may require a license, registration and/or notification in your state of residency and/or in the residency states of our users; (2) making statement that eToro Group Ltd. and its affiliates endorse, maintain any control and/or guarantee the accuracy and/or completeness of the Content published, posted or shared by You with other users; (3) making statements that are abusive, defamatory, harassing, and/or insulting statements to other users or otherwise; (4) making statements that advertise or promote any other online entities and/or your and/or any services; (5) making statements that contain sexually explicit content and/or any grossly offensive, including expressions of bigotry, racism, hatred or profanity or that is hateful, threatening or pornographic; incites violence or that contain nudity or graphic or gratuitous violence; (6) sending or otherwise posting unauthorized commercial communications (such as spam) on our websites, applications and/or utilizing our services; (7) collecting users' content or information, or otherwise accessing our websites and/or Services, using automated means (such as harvesting bots, robots, spiders, or scrapers); (8) engaging in unlawful multi-level marketing, such as a pyramid scheme, on our websites and/or using our Services; (9) uploading viruses or other malicious code; (10) soliciting personal information and/or login information or access an account belonging to someone else; (11) using our websites and/or Services to do anything unlawful, misleading, malicious, or discriminatory; (12) doing anything that could disable, overburden, or impair the proper working of RetailFX, such as a denial of service attack and/or facilitate or encourage any violations of these Terms and Conditions. All unsubstantiated performance claims may be removed from any of our websites. If You violate the above We shall have the right to terminate your account and registration on our Services. If your account and registration are terminated due to the above misuse We will refund any funds which may be in your account.
3.2.3. Gurus and/or leading traders may be subject to additional rules of conduct and restrictions relating to their Content or trading activity which may be imposed by Us from time to time either generally or as a part of specified promotions. If You have been qualified as a "Guru" or a leading trader please contact your account manager to receive further information with respect to any such restrictions which may be applicable to You.
3.2.4. We do not undertake to review and monitor all the Content and We do not in any manner endorse, support, sanction, encourage, verify or agree with any such Content. We reserve the right to review, monitor, revise and/or remove any such Content in any way We see fit in Our sole discretion. You acknowledge that We may report to government authorities any actions that may be considered illegal and/or which may be required by such authorities. When requested, We may cooperate with government authorities in any investigation of alleged illegal activity. You further confirm and acknowledge that We may also maintain records of all such Content.
3.2.5. At certain times, We may provide You with various analytical tools (such as market data, exchange rates, news, headlines and graphs), links to other websites, circulate newsletter and/or provide You with third parties' information for your convenience. By doing so, We are not endorsing, giving any representation, warranting, guaranteeing or sponsoring the accuracy, correctness, timeliness, completeness, suitability of such information for You and/or as to the effect or consequences of such information on You. Such information and tools are provided solely to assist You to make your own investment decisions and does not amount to investment advice or unsolicited financial promotions to You. You understand that We are not obligated to continue to provide the above mentioned tools and information and We may remove such informational tools from our website at any time. Furthermore, We are not obligated to update the information displayed on our website at any time and We will not be liable for the termination, interruption, delay or inaccuracy of any Market Information. The financial information We post on our website is provided by third parties for the benefit or our users and as such You undertake not to enable deep linking or any other form of redistribution or reuse of the information, to any non-authorized users. As such, We urge You to read and fully understand the terms and conditions and other policies of such websites, newsletters and information before using them. Any information or material placed on our websites by third parties reflects solely and exclusively the views, and are the responsibility of, those who post such information or material, and do not represent the views of eToro Group Ltd. and/or its affiliates. Such information is not to be considered as constituting a track record. Past performance is no guarantee of future results and We specifically advise clients and prospects to carefully review all claims and representations made by other traders, advisors, bloggers, money managers and system vendors before making an investment decision on the basis of any of the foregoing. IN NO EVENT SHALL ETORO GROUP LTD. AND/OR ITS AFFILIATES BE LIABLE, DIRECTLY OR INDIRECTLY, TO ANYONE FOR ANY DAMAGE OR LOSS ARISING FROM OR RELATING TO ANY USE, CONTINUED USE OR RELIANCE ON ANY SUCH TOOLS, WEBSITES, NEWSLETTERS AND/OR INFORMATION.
3.2.6. Neither We, nor our officers, principals, employees or agents shall be liable to any person for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages) resulting from any errors in, omissions of or alterations to any information and/or Content. The foregoing shall apply regardless of whether a claim arises in contract, tort, negligence, strict liability otherwise.
3.2.7. For further risks associated with Information and/or social trading features provided and/or made available on our websites, including without limitation, the eToro Open Book, "follow", "copy" and/or "copytrader", traders rankings, featured users, advanced search options and/or any other social trading feature to be made available by Us - see Section 4 below.

4. Risks Disclaimers and Limitations on Liability

4.1. General Risk Statement
You understand that You are using our Services at your own risk. It for this reason that We condition the use of our services to those who can actually bear the loss of any money invested and who properly understand the associated risks that are inherent to trading contracts for differences in relation to foreign currencies, commodities and indices. It is also important to have relevant experience when entering financial contracts and transactions. As You know, the forex, commodities, indices market is a dynamic arena and their respective prices are often highly unpredictable and volatile. In addition, use of our Services and can never be considered a safe investment rather only an investment with a high risk of loss inherently associated with it. Furthermore, our own spread is added to existing calculations and online quotes which makes a trade on our websites even more volatile. We make sure that the maximum risk associated for any user shall not exceed the actual amount of money paid to Us and deposited in your account.
4.2. Accountability for Each Financial Transaction
By using our Services, You agree to be fully, independently and personally liable for each transaction and/or credit card transaction made on our System through your account. As such, You must make sure that You are the only person with access to your account at all times. You must make sure that no minors have access to your account. If You do not settle a transaction performed through your account You shall be liable to Us and must indemnify Us in the amount necessary to cover the entire cost, whether indirect or direct, of the transaction. In the unlikely event that a contract is entered to acquire or sell currency at a price that does not reflect the market price (such as an event where a technical error such as a bug or defect has caused a malfunction that has affected the price of the transaction), We reserve our right to terminate and cancel any such transaction. We will notify You of our decision to cancel the transaction and explain our reasons to You. On the other hand, You are required to inform Us of any such malfunction should You experience such a malfunction whilst trading on our system.
4.3. Restrictions on Financial Transactions
You understand that financial regulations, financial codes, financial ethics and contractual requirements vary worldwide. As such, You understand that ultimately it is your responsibility to make sure that You comply with any and all local regulations, directives, restrictions and laws in your local place of residence before using our Services. We strictly state that We do not permit the use of our Services by users from jurisdiction in which the use of our Services is not permitted. These Terms and Conditions is not offering or soliciting the use of our Services to any one located in a jurisdiction in which the specific use is not authorized or otherwise permitted by local laws.
Please note that RETAILFX shall apply its own spread to all transactions and trades made by using our Services which can increase the cost of the transactions and trades accordingly.
By using our Services, You declare that all the funds that You use and invest on our Services do not originate in any way from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any authority. In the event that We become suspicious that You may be engaging in or have engaged in fraudulent, unlawful or improper activity, including, without limitation, money laundering activities, or conduct otherwise in violation of these Terms and Conditions, your access to the Services may be terminated immediately and/or your account blocked. If your account is terminated or blocked in such circumstances, RETAILFX is under no obligation to refund any funds that may be in your account, unless otherwise instructed by a relevant regulatory authority. In addition to terminating your access to the Service and/or blocking your account, We reserve the right to prevent You from accessing any of our other websites or servers, or accessing any other services offered by Us. We shall be entitled to inform the relevant authorities, other online service providers and banks, credit card companies, electronic payment providers or other financial institutions of your identity and of any suspected unlawful, fraudulent or improper activity and You will cooperate fully with Us to investigate any such activity.
4.4. Additional Risk Disclosures
It is important that You be fully aware of the following points:

RETAILFX reserves the right to close part, or all, of customers' open positions, in order to facilitate the charge of any fees or amounts due by You. Notwithstanding, You shall be liable for promptly paying such fee(s) to RETAILFX even if You has had full loss of all margins deposited by him.
RETAILFX does not guarantee any order. Placing stops, regardless of the entry or closing designation, does not guarantee that the trade will be filled at the order price. All entry Stops and Stops will be filled, upon activation, at the first/best available market price that may or may not match the requested order price.
In the event liquidity providers are unable to provide liquidity to Us your order may experience delays in execution or You may not be able to place orders entirely. The size of the order may also impede the speed at which the order is executed. Keep in mind that it is only necessary to enter any order once. Multiple entries for the same order may inadvertently open unwanted positions.
While trading on our visual electronic trading system, You might encounter system errors that are resulted from hardware and/or software failures. The result of any system failure may be that your order is either not executed according to your instructions, executing with account balance errors and discrepancies or not executed at all. RETAILFX will not be liable for the resulting errors in account balances. RETAILFX reserves the right to make the necessary corrections or adjustments on the account involved.
The high level of leverage effect possible in conducting CFD transactions with respect to foreign currencies, commodities and indices stems from the fact that it is only necessary to pay relatively modest margins or guarantees in relation to the scope of the contract.
The result of the above is that even a slight fluctuation of the market could mean substantial gains when these fluctuations are in your favor, but that could also mean considerable losses if the fluctuations are to your detriment.
No system exists that could assure You that CFD transactions with respect to foreign currencies, commodities and indices should bring You great benefits, nor is it possible to guarantee, that your transactions will yield favorable results.
Even though the foreign currencies, commodities and indices markets are liquid as compared with other financial and exchange markets, the market conditions might at times render the execution of an order or of a limit on an order (either stop loss or take profit) at a stipulated price impossible.
Accordingly, even though the extent of the losses could be subjected to an agreed upon limit, the risk of incurring losses could be higher, and that loss could occur in a relatively short period of time.
Since deposit of an additional guarantee is not obligatory in this case, RETAILFX reserves the right to close the outstanding balances without Your consent.
Under abnormal market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by Us or by You.
It is important to make a distinction between indicative prices which are displayed on charts and dealable prices which are displayed on our WebTrader. Indicative quotes only give an indication of where the market is. Because the forex and derivatives products market are decentralized, meaning it lacks a single central exchange where all transactions are conducted, each market maker may quote slightly different prices. Therefore, any prices displayed on any chart made available by us or by a third party will only reflect "indicative" prices and not necessarily actual "dealing" prices where trades can be executed.
The risk information presented here does not reflect all of the risks as well as other important aspects intrinsic to CFD transactions with respect to foreign currencies, commodities and indices. Therefore, before starting to trade, You should learn the specifics of trading on such transactions in detail or seek further advice.
Unless You have elected to carry a trade over the weekend, all trades will automatically close out in the real money mode when market closes at the end of the business week at the rates available on the end of the last trading day of the relevant week. All statements with respect to real money accounts will be open during the weekend and all traders are welcome to view their trading account info. RetailFX reserves the right not to offset contracts carried over the weekend shortly after markets are open. RetailFX will allow offsetting contracts carried over the weekend when market liquidity conditions are reasonable.
There are a series of inherent risks with the use of the mobile trading technology such as the duplication of order instructions, latency in the prices provided, and other issues that are a result of mobile connectivity. Prices displayed on the mobile platform are solely an indication of the executable rates and may not reflect the actual executed price of the order. Our mobile feature utilizes public communication network circuits for the transmission of messages. We shall not be liable for any and all circumstances in which You experience a delay in price quotation or an inability to trade caused by network circuit transmission problems or any other problems outside our direct control, which include but are not limited to the strength of the mobile signal, cellular latency, or any other issues that may arise between You and any internet service provider, phone service provider, or any other service provider. Please further note that some of the features available on the Webtrader or our Social Trading Features may not be available on our mobile feature.

4.5. Risks Associated with Social Trading
EToro Group Ltd. And its affiliates are proud to provide You with the ability to interact, follow and copy other traders by using Information and/or social trading features provided and/or made available on our websites. Such social trading features include but are not limited to the eToro Open Book, "follow", "copy" and/or "copytrader" traders rankings, "featured users" and/or any advanced search options etc. (collectively, "Social Trading Features"). However, We note that Social Trading Features are associated with various risks and You are urged to carefully read and consider the following risks before utilizing either of our Social Trading Features:
4.5.1. Social Trading Features are provided by Us solely for informational purposes. Etoro Group Ltd. and its affiliates and their employees and agents are not investment or financial advisers. IF YOU MAKE INVESTMENT DECISIONS IN RELIANCE ON INFORMATION WHICH IS AVAILABLE ON OUR WEBSITES OR AS A RESULT OF THE USE OF THE SOCIAL TRADING FEATURES, YOU DO SO AT YOUR OWN RISK AND ETORO GROUP LTD. AND ITS AFFILIATES, THEIR EMPLOYEES AND ITS AGENTS WILL NOT BE LIABLE FOR ANY LOSSES THAT YOU MAY SUSTAIN. YOU SHOULD NOT MAKE ANY INVESTMENT DECISION WITHOUT FIRST CONDUCTING YOUR OWN RESEARCH. YOU ARE SOLELY AND EXCLUSIVELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT, OR STRATEGY, OR ANY OTHER PRODUCT OR SERVICE IS APPROPRIATE OR SUITABLE FOR YOU BASED ON YOUR INVESTMENT OBJECTIVES AND PERSONAL AND FINANCIAL SITUATION.
4.5.2 A copied trader's positions shall be copied with the same proportional amounts and with the same leverage, to the maximum extent possible. All such positions shall be closed automatically if and when closed by the copied trader and/or if the copied trader's positions were automatically closed by Us, for whatsoever reason, without providing any further notice and without any action on your part. You should be able and prepared to bear the loss of the entire investment You made in such a copied trader. You are fully responsible for any losses You may sustain as a result of our automatic execution of instructions generated as a result of the utilizing of any of the Social Trading Features.
4.5.3. If You place additional trades in your account or You modify or cancel an order generated by a Social Trading Feature You may achieve a materially different result than the user that You copied.
4.5.4. Any past performance of our users indicated on our websites is not indicative of future results and should be considered as hypothetical as more fully described below. It is important to understand that historical performance is not a guarantee of future performance. When reviewing the Content, portfolio, financial performance information, opinions or advice of another registered user, You should not assume that the user is unbiased, independent or qualified to provide financial information or advice.
4.5.5. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. NO REPRESENTATION OR GUARANTEE IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN AND MAY NOT TAKE INTO ACCOUNT FEES, SPREADS AND/OR TRADING COMMISSIONS THAT MAY BE CHARGED. THE ACTUAL PERCENTAGE GAINS/LOSSES EXPERIENCED BY INVESTORS WILL VARY DEPENDING ON MANY FACTORS, INCLUDING BUT NOT LIMITED TO: STARTING ACCOUNT BALANCES (DEPOSITS AND WITHDRAWALS), MARKET BEHAVIOR, THE INVESTOR'S ACCOUNT SETTINGS AND THE PERFORMANCE OF THE COPIED USER. BECAUSE OF THIS, ACTUAL PERCENTAGE GAINS/LOSSES EXPERIENCED BY INVESTORS MAY BE MATERIALLY DIFFERENT THAN THE PERCENTAGE GAINS/LOSSES AS PRESENTED ON THIS WEBSITE. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
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

5. INDEMNIFICATION AND LIMITATION OF LIABILITY

YOU EXPRESSLY AGREE THAT YOUR USE OF THE WEBSITE, AND ANY PUBLICATIONS, PRESENTATIONS, FINANCIAL TRADING INFORMATION, PRICING DATA, TRADE DATA, PERFORMANCE INFORMATION, BLOGS, POSTINGS, OR OTHER INFORMATION, CONTENT, SERVICES AND MATERIALS CONTAINED IN, ACCESSED VIA, OR DESCRIBED ON OUR WEBSITE, IS AT YOUR OWN RISK, AND THAT ALL SUCH INFORMATION, CONTENT, SERVICES AND MATERIALS ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, WE MAKES NO, AND HEREBY DISCLAIMS ALL, REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE AVAILABILITY, OPERATION AND USE OF OUR WEBSITES OR THE INFORMATION, CONTENT, MATERIALS OR SERVICES ON OR ACCESSED VIA OUR WEBSITES, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE. NEITHER THE WEBSITE, NOR ANY INFORMATION, CONTENT, MATERIALS, OR SERVICES AVAILABLE VIA THE SITE, CONSTITUTES OR IS INTENDED TO CONSTITUTE, OR SHOULD BE CONSTRUED AS, A SOLICITATION OR ANY OFFER TO BUY AN INTEREST IN ANY SECURITY, INVESTMENT ADVICE OR A RECOMMENDATION OR PROMOTION OF ANY TRANSACTION OR OTHER FINANCIAL PRODUCT, INVESTMENT MANAGER, OR TRADING OR INVESTMENT STRATEGY. IN ADDITION, WE DO NOT REPRESENT OR WARRANT THAT THE INFORMATION ACCESSIBLE VIA THE SITE IS ACCURATE, COMPLETE, RELIABLE OR CURRENT, AND WE ARE NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS THEREIN OR FOR ANY ADVERSE CONSEQUENCES RESULTING FROM YOUR RELIANCE ON ANY ASPECT OF THE SITE. FURTHER, WE MAKE NO REPRESENTATIONS AND WARRANTIES THAT OUR WEBSITES WILL BE UNINTERRUPTED, SECURED, OR FREE OF ERRORS OR VIRUSES, OR OTHER HARMFUL COMPONENTS.
IN NO EVENT SHALL WE OR OUR AFFILIATES, OR THE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES OF ETORO GROUP LTD. OR ITS AFFILIATES (THE "ETORO PARTIES") BE LIABLE TO YOU OR ANY THIRD PARTY FOR DAMAGES OF ANY KIND ARISING OUT OF THE USE OF, ACCESS TO, RELIANCE ON, INABILITY TO USE OR IMPROPER USE OF OUR WEBSITES, ANY INFORMATION POSTED ON OUR WEBSITES BY ITS USERS, OR ANY OTHER INFORMATION, CONTENT, MATERIALS OR SERVICES AVAILABLE ON OUR WEBSITES (INCLUDING, BUT NOT LIMITED TO, ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR DAMAGES FOR LOSS OF PROFITS, GOODWILL OR REVENUE, BUSINESS INTERRUPTION, OR LOSS OF DATA), EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE. IN ANY EVENT, AND NOTWITHSTANDING, THE MAXIMUM LIABILITY THAT YOU MAY CLAIM FROM US FOR ANY REASON SHALL BE NO MORE THAN THE ACTUAL SUM OF MONEY THAT YOU DEPOSITED IN YOUR ACCOUNT FOR THE PURPOSE OF TRADING THAT MAY HAVE BEEN THE BASIS FOR ANY ACCUMULATED LIABILITY THAT YOU INCUR. CERTAIN STATE LAWS DO NOT PERMIT LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN TYPES OF DAMAGES, AND THUS SOME OR ALL OF THE DISCLAIMERS, EXCLUSIONS OR LIMITATIONS ABOVE MAY NOT APPLY TO YOU.

6.Technical Features and Requirements

6.1. Technical Requirements to Use Our Services
You must provide and maintain adequate technical means on which You install our software and access our Services. These technical means must include at least a personal computer, internet access by any means and telephone or other access line. Access to the internet is an essential feature and You shall be solely responsible for any fees necessary in order to connect to the internet. Furthermore, as You are using your personal computer in order to access our Services You are strictly and solely liable for the integrity and proper storage of any data associated with our Services. By using our Services, You represent and warrant to Us that You have installed and implemented appropriate means of protection relating to the security and integrity of your computer and that You have taken appropriate action to protect your system from computer viruses or other similar harmful or inappropriate materials, devices, information or data.
We will not be liable to You in the event that your computer system fails, damages, destroys and/or formats your records and data. Furthermore, if You incur delays and any other form of data integrity problems that are a result of your hardware configuration or mismanagement, We shall not be liable. You further undertake to protect Us from any wrongful transmissions of computer virus or other similarly harmful or inappropriate material or device to our system from your personal computer.
6.2. Technical Problems and Difficulties
As a provider of technology, We remind You that in some circumstances the use of the internet can at times be unreliable and at times You may experience trouble connecting, although is now common practice that generally the use of the internet is now regarded to be very reliable. Notwithstanding, and recognizing the above, You hereby undertake that We will not be liable, and You will not hold or seek to hold Us or any of our officers, employees agents or service providers liable, for any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects. We do not represent, warrant, guarantee or claim that You will be able to access or use our Service at all times and from any location. Neither do We represent, warrant, claim or guarantee that our Services will be uninterrupted and error-free at all times. Furthermore, We make no warranties for merchantability or fitness for a particular purpose.
6.3. Disconnection Policy
If You are suddenly disconnected from our Services whilst actively trading online, We will keep your positions open until You can reestablish your connection or trading ceases.
6.4. Maintenance Shut Downs
We maintain our continuing right to shut down our operations and close our Services to our customers at any time. We may do so at any given time, without notice. If We do so, We maintain the right to close all open transactions (regardless of any ongoing positions and profit margins) and to conclude the transactions at fair and market value quotes so that our customers will not have any ongoing claims from Us. Furthermore, at any given time, at our sole discretion, We reserve the right to impose volume limits on customer accounts. Contract payouts shall be determined by RETAILFX by reference to the daily values reported on this website relevant to the interbank trading data received by RETAILFX for Forex or derivative products quotes, subject to the provision that RETAILFX shall have the right to make corrections to such data in the event of mispriced or typographically incorrect data.

7. Prohibited Trading techniques

7.1. Circumvention & Reverse Engineering
You shall not unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that We have applied to our system. If, at our sole discretion, You are in breach of this clause, We may terminate your access to the Service immediately and/or have your account blocked, and RETAILFX may inform Interested Third Parties of your breach of this clause. We have, and will continue to develop any tools necessary to identify fraudulent or unlawful use of our Service.
7.2. Artificial Intelligence Software
It is absolutely prohibited to use any software, at our sole discretion, which purpose is to apply any kind of artificial intelligence analysis to our system relating to the use of our Service. In the event that We determine, at our own discretion, that artificial intelligence software has been used We reserve our right to take action as We see fit, including completely blocking access to the Service and/or terminating the user account. RetailFX reserves the right to seize any profits and/or revenues generated directly or indirectly by exercising prohibit trading activity as described in this Section 7.
7.3. Abusive trading technique
Internet, connectivity delays and price feed errors sometimes create a situation where the prices displayed on the RETAILFX online facility do not actually reflect the market rates. The concept of arbitrage and "scalping", or taking advantage of these internet delays, cannot exist in an OTC market where the client is buying or selling directly from the market maker. RETAILFX does not permit the practice of arbitrage on the RETAILFX online facility. Transactions that rely on price latency arbitrage opportunities may be revoked. RETAILFX reserves the right to make necessary corrections or adjustments on the account involved. Accounts that rely on arbitrage strategies may at RETAILFX sole discretion be subject to RETAILFX intervention and RETAILFX approval of any orders. Any dispute arising from such quoting or execution errors will be resolved by RETAILFX in RETAILFX sole and absolute discretion.
7.3. Measures in respect of Prohibited Trading Techniques
In the event that We determine, at our own discretion, that prohibited trading technique has been used, We reserve our right to take action as We see fit, including completely blocking access to the Services, terminating the user account and seizing all profits and revenues generated directly or indirectly from such technique in any affected users accounts.

8. Conflicts of Interests

8.1. You accept and confirm that a conflict of interests may arise when the interest of eToro Group Ltd. and its affiliates competes or may appear to compete with your interests under these Terms and Conditions.
8.2. Specifically you hereby acknowledge and confirm that:

We may assign or transfer the execution of Your orders to another member of the eToro group or companies;
We may execute at the same time orders by different customers that are opposite to one another;
We may establish business, including without limitation, trading relationships with other issuers of financial instruments and We may have a financial interest in such instruments;
We act as a market maker and in this context there may be inherent conflicts of interest; and
We may compensate and/or share our revenues from your activity with our affiliates, partners and/or other similar parties performing marketing activities on our behalf. For instance, for information as to compensation paid to our affiliates please see http://www.etoropartners.com/. You hereby further acknowledge that We also may compensate other users who You have elected to follow and/or copy (such as qualified Gurus).

9. Miscellaneous

9.1. Taxation
You hereby acknowledge and understand that We do not collect any taxes for any government authority in any form or manner and You further understand that it is your own responsibility to calculate and pay all applicable taxes applicable in your country of residence arising as a result of your trading activity on our Services. Notwithstanding the above and without derogating in any way from your sole, exclusive and personal obligation to pay taxes in your local jurisdiction, You unequivocally agree that We may deduct any taxes due under applicable law and regulations that may arise from the results of your investment on our System. All amounts extracted from your account are "gross amounts", from which We may deduct any such taxes if necessary under the applicable law. In such an event, You shall have no claim towards RETAILFX with regard to any such deductions.
9.2. Force Majeure
We will not be liable to You under any circumstances for any damage or losses that You incur due to circumstances beyond our control legally referred to as Force Majeure including, but not limited to, pursuant to any action taken by any government or regulatory body, legal authority, technical delays, technological malfunction, loss of data and records or destruction of hardware. We will not be liable to You for any such extraordinary events known as Force Majeure which may occur that We could not foresee or otherwise prevent.
9.3. Governing Law & Jurisdiction
These Terms and Conditions shall be governed by and construed in accordance with the laws of Cyprus notwithstanding any principles of conflicts of law. By using our Services You agree to recognize all electronic and magnetic data and documentation as admissible evidence when settling a dispute regarding any trades and investments. The competent courts in Limassol, Cyprus shall have sole and exclusive jurisdiction regarding any dispute or claim arising hereunder.
9.4. Marketing promotions and Bonuses
General Bonus Policy - In the interest of fair trading, traders must buy or sell at least (10) Ten mini lots in real-money mode for each unit of $10 bonus granted by RetailFX before submitting any withdrawal requests. Each mini lot accounts for 10,000 currency units You choose to buy or sell.
For Example:
If You receive a bonus of $25 your trading requirement is 25 mini lots which equal 250,000 currency units. Keep in mind that the number of currency units you're buying or selling per trade is determined by the amount of your trade X the leverage. So for example if you're making a trade for the amount of $25 with a leverage of 1:400, 25x400=10,000 so you're buying or selling one mini lot.
By accepting any bonus from RetailFX You deem to accept all of the terms & conditions of Bonus Policy above.
All promotions, bonuses or special promotions that We offer or will offer in the future are subject to specific promotional terms and conditions. All complimentary bonus money credited to your account must be strictly used under the specific promotion's terms and conditions. At all times, We reserve the right to retract and/or cancel any such promotion, bonus or special offer. If We suspect that a user has abused or attempted to abuse a bonus and/or other promotion or otherwise acted with a lack of good faith towards Us, then We reserve the right, at our sole discretion, to deny, withhold or withdraw from that user the bonus or promotion and if necessary to cancel any terms & conditions with respect to that user, either temporarily or permanently, or terminate that user's access to the service and/or block that user's account.
Any eligibility for a bonus will grant the bonus to be credited only once per account, person, household and/or any environment where computers are shared.
9.5. Termination of these Terms and Conditions
9.5.1 We reserve the right to terminate these Terms and Conditions and your account and registration (including your username and password) in the following cases:

If for any reason We decide to discontinue to provide the Service, by providing at least a 5 (five) calendar days notice (which may be provided by email, facsimile etc.);
If We believe that You have breached any of the terms of these Terms and Conditions, immediately without notice;
If your use of the Service has been in any way improper or breaches the spirit of these Terms and Conditions; or
an issuance if an application, order, resolution or other announcement in relation to the bankruptcy or winding-up proceedings in which You are involved, immediately without notice;
the death of the user, immediately without notice

You may terminate these Terms and Conditions and your account and registration (including your username and password) at any time by sending an email to such termination to take effect upon RETAILFX terminating your account and registration (including username and password), which shall occur within 7 calendar days after receipt of your email on our servers, provided that You shall remain responsible for any activity on your account between sending Us an email and the termination of your account by Us.
If these Terms and Conditions are terminated for any reason due to suspected misconduct by the user, RETAILFX reserves the right to withhold any funds in the account until the matter is resolved. Any decision made by RETAILFX regarding the matter will be final.
9.6. Severability
If any part of these Terms and Conditions is unlawful, void or determined to be unenforceable, that part will be deemed severable and will not affect the validity and enforceability of any remaining provisions.
9.7. Modifications to These Terms and Conditions
We reserve the right to amend, revise, modify, and/or change these Terms and Conditions at any time.
9.8. Contact details and customer support services:
RetailFX is committed to provide the most professional customer support services: You are welcome to contact Us in any question and/or concern You may have in the following contact methods:

Our Address: RetailFX Limited
7 Omirou St., 2nd Floor, 3095 Limassol, Cyprus
Phone: +35725030234 +35725030234
Call Us from these countries:

	Argentina	54-1152391459
	Panama	5078365039
	Russia	74955041099
	Ukraine	380445945748
	Australia	611800778072
	United Kingdom	448081201595
	Italy	390662207553
	Bahrain	97316199183
	Spain	91-1876409
	Germany	221-37050003

For more information on Complaint Handling please visit the Regulatory Disclosures at http://www.etoro.com/trade/etoro-and-brokers.aspx#22

info@retailfx.com - Trading-related or account questions
PLEASE PRINT A COPY OF THESE TERMS AND CONDITIONS FOR YOUR RECORDS
-------------------------------------------------------------------------------

END USER LICENSE AGREEMENT
ETORO GROUP LTD.

Installing the software that You have downloaded from Our website means that You have given Your acceptance of the terms of this End User License Agreement ("Agreement") as set forth below:

1. Scope of Agreement
These Terms and Conditions applies to any: (i) Web pages, (ii) Services, (iii) Content, (iv) Databases and (v) information together with the software (collectively referred to as the "Services") provided by eToro Group Limited ("eToro Group Limited" or "Us" or "Our"). The content and information included in these Services are provided by eToro Group Limited. Carefully read all the terms and conditions of these Terms and Conditions prior to installing this software. If You ("You" or the "User") do not agree to these terms and conditions, You may not install this software, please do not commence the installation process and destroy any file relating to the software in Your possessions. The conditions of these Terms and Conditions may be updated by eToro Group Limited from time to time, without prior notice to User. The use of the Services may be subjected to additional terms and conditions, which will be published by eToro Group Limited from time to time. eToro Group Limited may amend these Terms and Conditions at any time.

2. Account User Information and User security:
In order to use the Services You shall receive specific Account User Information. It is Your responsibility to keep the Account User Information secret and You are responsible for all actions made using Your Account User Information. You agree: (a) to immediately notify eToro Group Limited of any unauthorized use of the Account User Information or of any other violation of security and (b) at the end of each use, to log out from Your account in an orderly way.

3. Privacy
This Section explains the manner in which We collect and maintain non-public information about Our customers (such as Your full name, mailing address, identification number, passports, driver's license etc., hence forth "Information").
By providing Us with Information, You are giving Us Your consent to collect, use and store the Information in the manner explained herein.
When Do We collect Information from You?
We collect information from You when You (a) open an account and provide Us with Information through electronic registration forms; (b) make a transaction with Us including when You deposit and withdraw funds; Additionally, from time to time, We may collect Information about You from third party entities such as information about Your credit history agencies. The Information We collect directly from You includes Information required to communicate with You such as Your address, phone number, e-mail. Furthermore, We may collect other identifiable Information such as identification numbers and/or Passport/Tax registration numbers. We may also collect demographic information when You open an account, including Your gender, birth date, etc. We may also need to evaluate Your trading experience, average annual income, estimated net worth and make an assessment about Your risk factor.
How Do We collect Information?
You directly provide Us with most of the Information We collect. You do this by filling out the electronic form that We post on Our website and by voluntarily providing Us with other required documents. Additionally, You provide Us with Information by trading on Our system, by contacting Us or responding to a promotion. The information We indirectly collect may include logging Your Internet Protocol (IP) address, software configuration, operating system and use of Cookies; Cookies are small files sent from Us to Your computer and sometimes back. Cookies ultimately help Us improve Your navigation and ease of use of Our website. Cookies do not contain any personally identifiable information.
How Do We Use the Information Collected?

Use of Information
We use personal information only as appropriate to provide You quality service and security. For example, We may use the Information collected from You to verify Your identity. We may also use this Information to establish and set up Your trading account, issue an account number, issue a password, log Your activity and contact You from time to time. The Information helps Us improve Our services to You, customize Your browsing experience and inform You about additional products, services or promotions that may be of interest to You. Should You ever deactivate Your account with Us, We will keep Your information on file, but only use it to comply with regulatory requirements and to contact You occasionally with the option to reactivate Your account. Please note that You may opt out of Our Information sharing policies at any time by notifying Us of Your desire to do so as explained below;
Sharing Information
We do not disclose or share Information about any of Our Users (whether active or inactive) to any non-affiliated third parties other than in the manner and to the entities set forth below:

To any affiliate and/or subsidiary of Us;
To service providers for the purpose of opening, operating and servicing Your account. Such service providers may include attorneys, accountants, auditors, financial and other professionals;
To respond to a subpoena or court order, judicial process or to regulatory authorities; and
To protect against fraud, unauthorized transactions (such as money laundering), claims or other liabilities.
We do not share credit information, such as credit history, net worth, or other income information.

eToro OpenBook
The eToro OpenBook is a real-time social trading platform, which integrates rich community and social characteristics into the trading platform. As part of the eToro traders' network, traders who choose to be part of the community share their strategies and performance with the community. The personal information of the traders and the amount traded is never disclosed and all traders are required to agree to be part of the network and share their strategies and performance.
You can always opt-in and opt-out the eToro OpenBook community, very simply, at Your discretion.
Security and Integrity of Information
We protect Your Information by using data security technology and using tools such as firewalls and data encryption. We also require that You use a personal username and password every time You access Your account online. We restrict access to Information at Our offices so that only officers and/or employees who need to know the Information have access to it.
Changes to this Privacy Policy
We reserve the right to amend, revise, modify, and/or change this Privacy Policy at any time. Should We decide to make any changes to this Privacy Policy, such changes shall be incorporated into our revised Privacy Policy which shall be presented on our Website.
Updating Your Information
In the event that You believe Our Information is in anyway inaccurate, please let Us know immediately. We will make sure We investigate the matter and correct any inaccuracies as quickly as possible where necessary.
Questions
Should You have any questions regarding Our privacy policy, please contact Us at info@etoro.com. Please include Your name, mailing address, email and telephone number.

4. Financial Disclaimers

The Services and the software should be used with knowledge and skill notwithstanding any particular user's investment objectives, financial situation, or means, and eToro Group Limited is not soliciting any action based upon it. eToro Group Limited does not recommend any form of financial transaction; or solicit to enter into any financial transaction, financial engagement; or otherwise encourage You to follow any specific trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal.

5. General Restrictions

5.1. You may: Use the Services and software on a single workstation only. This does not include use on a computer network.
5.2. You may not:
5.2.1. Loan, rent, lease, give, sub-license or otherwise transfer the Services (or any copy thereof) in whole or in part, to any other party.
5.2.2. Copy, alter, translate, decompile or reverse engineer the software, including but not limited to, modify the Services in any way.
5.2.3. Remove, alter or cause not to be displayed, any trademarks, copyright notices or start-up messages contained in the programs and/or documentation.
ETORO GROUP LIMITED MAY TERMINATE THIS LICENSE, CANCEL THE USER'S PASSWORD AND/OR THE USER'S ACCOUNT (OR PART OF IT) IF YOU FAIL TO COMPLY WITH THE TERMS AND CONDITIONS SET FORTH ABOVE.

6. Property Rights

6.1. All trademarks, domain names, Services names, and other support materials are patented, copyrighted, trademarked or otherwise owned by eToro Group Limited as trade secrets and/or proprietary information. eToro Group Limited retains exclusive ownership of the Services and of the trademarks. All techniques, algorithms and processes contained in the Services or any modification or extraction thereof constitute trade secrets and/or proprietary information of eToro Group Limited and will be protected by these Terms and Conditions.
6.2. Any information and data provided by the Services is protected by international copyright laws. You shall respect all such proprietary rights and unless You were given an explicit permission by eToro Group Limited, You shall not use the Services, or any other information or the software for any purpose, other than personal ordinary purposes, and You shall not change, sell and/or distribute Our Services and/or create any products based on Our Services, or on part of it, without Our prior written consent.
6.3. These Terms and Conditions does not dispose any property right in the Services and/or in the software.

7. Disclaimer of Warranties

eToro Group Limited expressly disclaim all warranties of any kind, express or implied. The Services are provided "AS-IS", and eToro Group Limited and/or any third-party Information Provider provide the Services without responsibility for accuracy and correctness. By using the Services You agree that errors and/or omissions contained in such information shall not be made the basis for any claim, demand or cause of action against eToro Group Limited.

8. Limited Liability

eToro Group Limited shall not be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to these Terms and Conditions or resulting from the use or the inability to use the Services or software, including but not limited to damages for loss of profits, use, data or other intangible damages, even if eToro Group Limited has been advised of the possibility of such damages.

9. Links

The Services may contain links to websites which are not operated by eToro Group Limited and eToro Group Limited is not responsible for the content on these Internet pages. eToro Group Limited makes no representations as to the quality, suitability, functionality or legality of any sites to which eToro Group Limited may provide links, and User hereby waives any claim User may have against eToro Group Limited with respect to such sites.

10. User Conduct

10.1. You shall not use the Information for any unlawful or unauthorized purpose. The use and interpretation of the Services requires skill and judgment, and You shall at all times exercise Your own judgment in the use of the Services.
10.2. You agree not to use to the Services in order to:
10.2.1. Disturb or damage the Services or the servers or the networks connected to the Services. The User must not ignore conditions, policies and/or regulations of networks which are connected to the Services.
10.2.2. Violate deliberately or not deliberately any local, state, national or international law which applies to our software.
10.3. By using the Services You acknowledge that You are well informed that eToro Group Limited does not perform any prior filtering of the content and/or financial information made available through the Services by third parties. Notwithstanding the aforementioned, eToro Group Limited and/or its agents, shall have the right to remove any content which violates this license conditions or which arises opposition in any other way.
10.4. You agree that it is up to You to evaluate the risks involved with the use of the Service, including the reliance upon the accuracy, perfection and/or benefit of the content made available by the Service. And You agree that the risks with such use shall be on You.

11. Term of License

eToro Group Limited may exercise full discretion in modifying or discontinuing any part or whole of the Services subject to these Terms and Conditions at any time without cause or prior notice.

12. General

Our failure or neglect to perform or enforce any of any rights or conditions under these Terms and Conditions shall not be considered as a waiver of such a right or condition. Should any provision of these Terms and Conditions be held to be void, invalid or inoperative, the remaining provisions of these Terms and Conditions shall not be affected and shall continue in effect. In addition, if any particular provision contained in these Terms and Conditions shall, for any reason, be held to be excessively broad with regard to time, geographic scope or activity, the term shall be construed in a manner to enable it to be enforced to the extent compatible with applicable law.

13. Acknowledgment

You acknowledge reading these Terms and Conditions, understanding it, and agree to be bound by its terms and conditions.

14. Governing Law and Forum Selection

The validity of these Terms and Conditions and the rights, obligations and relations of the parties shall be construed and determined in accordance with the laws of British Virgin Islands. You acknowledge that any action or suit brought to enforce any right or remedy of these Terms and Conditions shall be subject to the exclusive jurisdiction and venue of Cyprus.

LAST UPDATED: April 8th, 2012