Introduction
Company Overview
United International Trading Co. Ltd. (hereinafter referred to as the ‘Company’) is an investment firm that operates as a global broker.
Incorporation Details
United International Trading Co. Ltd. is incorporated in Thailand under the Companies Ordinance. The certificate was issued on 25 June 2020. United International Trading Co. Ltd. is incorporated as an International Broker Company with the registration no. 0205563019819.
Business Scope
The objects of the Company are all subject matters not forbidden by the International Business Companies (Amendment and Consolidation) Act, in particular but not exclusively all commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises as well as to provide brokerage, training, and managed account services in currencies, commodities, indexes, CFDs, and leveraged financial instruments.
Acknowledgement
Client Acceptance
The client acknowledges that he/she read, understood, and accepted the Terms of Business as amended from time to time, in addition to any information contained within the firm’s website available online at www.UnitedInternationalTradingCoLtd.com.
Application Process
After the Client fills in and submits the Account Opening Application Form together with all the required identification documentation, the Company will send him a notice informing him whether he has been accepted as a customer of the Company...
Language Policy
The client acknowledges that the Firm’s official language is the English Language.
Scope of the Terms of Business
Governing Actions
The Terms of Business govern all the actions that relate to the execution of the client’s orders.
Agreement Precedence
The Terms of Business are non-negotiable and override any other agreements, arrangements, express or implied statements made by United International Trading Co. Ltd. unless the company, in its sole discretion, determines that the context requires otherwise.
Regulatory Framework
The Distance Marketing of Consumer Financial services law N.242 (I)/2004 which implements EU directive 2002/65/EC, does not require the Client Agreement to be signed by either the client or the company in order for both the client and the company to be legally bound by it.
Definitions and Interpretations
Terms
Terms stated below shall have the following meanings and may be used in the singular or plural as appropriate.
Market Maker
6.1. Sole Execution Venue
When the Company executes orders as principal, the Company is the sole execution venue which may create an inherent conflict of interest.
6.2. Role as a Market Maker
The Client accepts that the Company acts as a Market Maker and understands that a deal executed between the Company and its Client is done at the Company’s quoted price and is not done on any exchange or regulated market.
6.3. Quoting Prices
The Client accepts that the Company may quote the bid and ask price at which it is prepared to deal with the Client. It is the Client’s responsibility to decide whether or not he wishes to deal at such prices, save where:
- The Company exercises any of its rights to close out a Transaction; or
- A Transaction closes automatically.
6.4. Price Discrepancy
The Client acknowledges that the Company’s prices, bid or ask prices, might be different from the prices reported in other markets. The Company is under no obligation to ensure that the Client is given the best price on the market and will have no liability for any loss or claim which may arise by reason of any perceived or actual difference between the Company’s prices and those available in the market.
6.5. Variable Spreads
The Client acknowledges that the Company quotes variable spreads, and that such spreads may widen due to market volatility or other conditions. The Company shall not be liable for any losses incurred by the Client as a result of widened spreads.
6.6. Price Alignment
While the Company endeavors to ensure that the bid and ask prices it offers to its clients are in line with the prevailing market prices, the Client acknowledges that the Company’s prices might be different from the prices reported elsewhere. The Company does not have any obligation to ensure that its prices are the best prices available to the Client. The Client agrees to accept the prices offered by the Company when opening or closing a trade.
Market Maker
6.1. Sole Execution Venue
When the Company executes orders as principal, the Company is the sole execution venue which may create an inherent conflict of interest.
6.2. Market Maker Role
The Client accepts that the Company acts as a Market Maker and understands that a deal executed between the Company and its Client is done at the Company’s quoted price and is not done on any exchange or regulated market.
6.3. Pricing Responsibility
The Client accepts that the Company may quote the bid and ask price at which it is prepared to deal with the Client. Save where:
- The Company exercises any of its rights to close out a Transaction; or
- A Transaction closes automatically;
6.4. Price Discrepancies
The Client acknowledges that the Company’s prices, bid or ask prices, might be different from the prices reported in other markets. The Company is under no obligation to ensure that the Client is given the best price on the market and will have no liability to the Client for any loss or claim which may arise by reason of any perceived or actual difference between the Company’s prices and those available in the market, including where the Company has previously reported its prices or those of any other person.
6.5. Variable Spreads
The Client acknowledges that the Company quotes variable spreads, and that such spreads may widen, due to market volatility or other conditions. The Company shall not be liable for any losses incurred by the Client as a result of widened spreads.
6.6. Acceptance of Prices
While the Company endeavors to ensure that the bid and ask prices it offers to its clients are in line with the prevailing market prices, the Client acknowledges that the Company’s prices might be different from the prices reported elsewhere. The Company does not have any obligation to ensure that its prices are the best prices available to the Client. The Client agrees to accept the prices offered by the Company when opening or closing a trade.
Client Accounts
7.1. Account Maintenance
The Company shall open and maintain one or more accounts for the Client for the purpose of the Services provided in accordance with these Terms of Business. Such accounts may be denominated in a currency determined by the Company, with such denomination being subject to change from time to time upon written notice to the Client.
7.2. Deposit Management
The Company reserves the right to refuse to accept any deposit by the Client and/or to reverse and return any deposit made by the Client, net of any transfer fees or other charges, at the Company’s discretion, without giving any reason or being liable for any loss or damage caused to the Client as a result, subject to Applicable Regulations.
7.3. Transfer Fees
The Client acknowledges and agrees that any amount to be transferred to the Client’s account will be net of any transfer fees or other charges incurred by or charged to the Company and/or its bank.
7.4. Account Statements
The Company shall make available to the Client, via the Trading Platform, a statement of account showing the Client’s trading activity, open positions, margin requirements, and balance. The statement of account shall be updated in real-time and shall be available for viewing by the Client through the Trading Platform.
7.5. Updating Information
The Client shall inform the Company in writing of any material changes in the information provided to the Company at the time of the Account opening, as well as any other material information relevant to the Client’s account, such as changes in contact details, financial status, or trading objectives. The Company shall not be liable for any loss or damage arising from the Client’s failure to inform the Company of such changes.
Prohibited Trading
8.1. Trading Restrictions
The Customer agrees and acknowledges that the service provided by the company to the Customer hereunder is not adapted for certain trading techniques commonly known as "arbitrage trading", "picking/sniping." Snipping refers to the situation where the Client is prematurely buying or selling near preset prices.
8.2. Consequences of Prohibited Techniques
In the event of the Customer employing such techniques, the Customer agrees and acknowledges that the company may at United International Trading Co. Ltd.'s sole discretion take one or more, or any portion of, the following actions: close the Customer's account; suspend the Customer's account for an indefinite period of time; carry out an investigation on the Customer's account for an indefinite period of time; charge a penalty fee to the Customer in the same or greater amount of money that resulted from the Customer using such techniques.
8.3. Security and Access
The Client shall not unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that the Company has applied to the Platform.
8.4. Strictly Prohibited Actions
It is absolutely prohibited to take any of the following actions:
- Use any software, which applies artificial intelligence analysis to the Company’s system and Trading Platform;
- Intercept or monitor, damage or modify any communication which is not intended for him;
- Use any type of spider, virus, worm, trojan-horse, time bomb or any other codes or instructions that are designed to distort, delete, damage or disassemble the Trading Platform or the communication system or any system of the Company;
- Send any unsolicited commercial communication not permitted by Applicable Law.
Untrue Trades
9.1. Reversal of Trades
The Company shall have the right to annul and/or reverse any trades which are deemed untrue or opened at a fictitious price not existing on the market at the time of opening. Such cases include but are not limited to trades based on a non-market Quotation or based on latency trading (such as old prices).
Trading Volume Limitation
10.1. Volume Limits
The Company reserves the right to increase or decrease the trading volume limitation level of one or more instruments at any time without giving prior notice. The volume limitation is applied on a per client basis and in accordance with the table under section “My Account” and “Volume Conditions” on the Client’s myUnited International Trading Co. Ltd. area. (The volume is expressed on NET standard lot, 1 = $100,000 USD)
10.2. Exceeding Volume Limits
In the event that the Customer attempts to exceed the volume limit on any of the instruments described above, the request will be automatically declined and an "Off quote" message will be displayed.
Default
11.1. Rights to Retain and Deduct
The Company reserves the right to retain, or make deductions from, any amounts which the Company owes, or is holding for the Client, if any amounts are due from the Client to the Company.
11.2. Authorization for Company's Discretionary Actions
The Client hereby authorizes the Company, at the Company’s discretion, at any time and without notice or liability to the Client, to sell, apply, set-off and/or charge in any manner any or all of the Client’s assets and/or the proceeds from such assets which the Company has custody or control, in order to discharge all or any of the Client’s obligations to the Company.
11.3. Events Constituting a Default
Each and any of the following events shall constitute an Event of Default if:
- The Client fails to make any payment or fails to perform any required act under these Terms.
- The Client fails to remit funds or provide assets for delivery under any Contract on the due date.
- The Client dies, becomes of unsound mind, or is declared absent.
- Legal proceedings such as bankruptcy or administration are initiated against the Client.
- The Client fails to comply with margin requirements or any other obligations set by the Company.
11.4. Company's Rights upon Default
Upon the existence of an Event of Default, the Company shall at its discretion be entitled to take any of the following actions:
- Sell or charge any of the Client’s securities or property.
- Purchase necessary securities to fulfill obligations.
- Close out any of the Client’s positions or contracts.
- Enter into foreign exchange transactions to meet obligations.
Advertising
12.1. Company Advertisements
When the Company is using or advertising or posting on its website or platform or otherwise to any third party’s services, products, or websites:
- The Company will not be responsible for any such services, products, or website material that is not under its control.
- The Company gives no representation, warranty, or guarantee as to the accuracy, correctness, or completeness of any related information or as to the tax or legal consequences of any related Transaction.
- Such is provided solely to enable the Client to make his own investment decisions and does not amount to investment advice or unsolicited financial promotions to the Client.
- If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he will not pass it on to any such person or category of persons.
- The Client accepts that prior to dispatch, the Company may have acted upon it itself to make use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he will receive such information at the same time as other Clients.
Refund and Cancellation
13.1. Conditions for Cancellation of Withdrawal Requests
The Company reserves the right to cancel a Client’s request for withdrawal due to any of the following reasons:
- When the Client is requested to provide updated banking details or has suspicious transactions related to money laundering activities.
- When the Client has not provided complete or correct withdrawal information. The Client will be asked to resubmit the withdrawal request with correct details.
- If the Client submitted an incorrect date of birth during the withdrawal request, necessitating a resubmission of the request.
- If the Client has chosen an incorrect withdrawal method, requiring the request to be resubmitted using the correct method.
- Funds cannot be refunded to an expired credit/debit card.
- In cases where the Client's card used for deposit is cancelled, lost, stolen, or does not support foreign remittance refunds, requiring notification and a formal letter from the bank.
- Price discrepancies due to market conditions might lead to trade cancellations if the Company acted in good faith.
13.2. Trade and Position Cancellations
The Company might cancel trade orders or close positions under circumstances like liquidity issues, errors in feeds from Price Providers, or faulty quotes from Counterparties. A full explanation will be provided for such cancellations. Pending Orders older than three months may be deleted, and trades based on incorrect prices or prohibited trading techniques may also be closed.