Client agreement

This agreement is between you and MFXNeo ("we", "us"). By registering you accept it.

We may change these terms. We will tell you by email and on this site before a change takes effect, unless the change is required by law. If you do not accept a change, you may close your account before it takes effect.

You must be at least 18 years old, able to enter into a binding agreement, and allowed by the laws of the country you live in to use our services.

• One profile per person. Accounts are personal and may not be opened for, or used by, anyone else.
• The information you give us must be true and kept up to date.
• We do not accept clients who appear on a sanctions list, and we may refuse any application without giving a reason.

We offer margin trading on currency pairs, gold and oil through Xterminal. These are over-the-counter contracts on the price of the instrument: you do not own the currency, metal or oil itself, and the contract can only be closed with us.

We provide execution only. Nothing we say or publish — including prices, market commentary and anything in the chat — is investment advice or a recommendation to trade.

We act as principal on every trade: we quote the price and take the other side. Your orders are not passed to another market.

• Market orders are filled at our current price. In a fast market that price can differ from the one on your screen when you placed the order.
• Pending orders, stop losses and take profits are filled when our price reaches the level you set, at the first available price. If the market opens or moves beyond your level, the fill can be worse than the level.
• If a price we quoted was clearly wrong because of an error in our systems or price feed, we may correct or cancel trades made at it, and will tell you.

Each account type has its own spread and commission, published on this site and read from the trading platform. Spreads are a minimum and widen with the market, especially around news and when a market opens.

We may change spreads and commissions. A change applies to trades opened after it, never to a trade already open.

You choose your leverage when you open an account, up to the limit of its type, and can change it later from your dashboard. A change applies to positions opened afterwards.

• Around major news, and in the hours before the market closes for the weekend, the leverage on new positions may be limited to 1:200.
• Margin call: when your margin level (equity divided by used margin) falls to 100%, you are warned.
• Stop-out: when it falls to 50%, or your equity falls to zero, we close your positions to stop further loss.

It is your responsibility to keep enough equity in your account to hold your positions.

If your account's balance is negative after a stop-out, we reset it to zero. You will not owe us more than the money you deposited. Any bonus credit on the account is removed at the same time.

Accounts are opened swap-free: no charge or credit is made for holding a position overnight. We may switch swap on for an account; if we do, we will tell you first and give the reason.

Deposits are made through the deposit page in your dashboard, using our payment processor, Paynex. The money is credited to your account once the payment is confirmed.

• Payments must come from you. We do not accept payments from third parties.
• A new live account's first deposit must be at least the minimum for its type.
• We may ask where the money came from before or after we credit it.

You can ask to withdraw from your dashboard at any time.

• Withdrawals are paid only to clients whose identity we have verified.
• Each withdrawal is confirmed with a code we email you, and with the code from your authenticator app if two-step sign-in is on, and is checked by our finance team before it is paid.
• It is paid to the crypto address you give us, on the network you choose. Check the address carefully: a transfer to a wrong address cannot be recovered.
• Money needed as margin for open positions cannot be withdrawn.

We may refuse or delay a withdrawal where we are required to by law, or while we check it. If we refuse one, we will tell you why.

Any bonus is added as credit, under the conditions of that offer, which you accept when you take it. Credit counts towards your equity for trading. It is not your money: it cannot be withdrawn, and when money is withdrawn from the account the same share of the credit is removed. We may remove credit that is used against the conditions of the offer.

• Using prices that are clearly wrong, delayed or produced by a fault in our systems.
• Opening accounts, or trading with others, to take unfair advantage of bonuses or of negative balance protection.
• Any trading or payment connected with fraud, money laundering or market manipulation.
• Interfering with Xterminal, this site or other clients' use of them.

Where we find such conduct we may cancel the trades involved, remove bonus credit, and suspend or close the account. We will tell you what we have done and why, unless the law prevents us.

You can close your account at any time by asking us; we will close any open positions and pay out the remaining balance, less any amounts owed, to your verified payment details.

We may suspend or close an account where these terms are broken, where we are required to by law, or on notice to you. Open positions may be closed at our current price.

We will provide our services with reasonable care. We are not responsible for losses caused by market movements, by events outside our reasonable control, or by your internet connection or device. Nothing in these terms limits any liability that cannot be limited by law.

If you have a complaint, follow the steps on our Contact page. We will look into it and reply in writing.

These terms are governed by the laws of the country in which MFXNeo's operating company is registered.