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Legal

AKFX Legal Disclaimer

This website can be accessed worldwide however the information on the website is related to AKFX Financial Services Ltd. A company formed under the Companies Act of Malta. All clients will directly engage with AKFX Financial Services Ltd. and all client agreements will be entered into with AKFX Financial Services Ltd. and are therefore governed by the Maltese Laws.

Any fact, assessment, analysis, forecasts, opinion and other information (collectively “Information”) released by AKFX Financial Services Ltd.

Any director, officer, employee or representative here whether provided on the AKFX websites, on third party websites, in marketing materials, newsletters, in individual e-mails and letters, in lectures, individual conversations or in any other form of written or verbal communication (collectively “Publications”) are provided for informational and/or marketing purposes only.

Unless specifically stated, no Publication of the AKFX Financial Services Ltd. should be construed as an offer (or solicitation of an offer) to: buy or sell any currency, product or financial instrument, make any investment, or participate in any particular trading strategy (collectively “Offers”).

Notwithstanding anything to the contrary (not even if specifically stated), no Publication of the AKFX Financial Services Ltd. should be construed as an Offer in any jurisdiction in which such Offer would be illegal. Any such perceived Offer will not be honored by the AKFX Financial Services Ltd.

Malta Financial Services Authority (MFSA)

AKFX Financial Services Ltd. is formed under the Companies Act of Malta, registration C60473. It is regulated by the Maltese Financial Services Authority and holds a Category 2 Investment Services License (IS60473). https://www.mfsa.com.mt/pages/licenceholder.aspx?id=5240

The Malta Financial Services Authority MFSA is the single regulator for financial services in Malta. It was set up by special Act of Parliament, the Malta Financial Services Authority Act, 1988 as amended in 1994 and 2002 taking over supervisory functions previously carried out by the Central Bank of Malta, the Malta Stock Exchange and the Malta Financial Services Centre. The Authority is a fully autonomous public institution and reports to Parliament on an annual basis. – MFSA

MFSA Highlights

  • Established by statute on 1988

  • Fully Independent and Autonomous
  • Self-Funded & Resourced Organization
  • EU Member State
  • OECD Strategic Partner

Full Member of

European Banking Authority (EBA),

European Insurance and Occupational Pensions Authority (EIOPA)

European Securities and Markets Authority (ESMA).

International Organization of Securities Commissions (IOSCO)

International Association of Insurance Supervisors (IAIS)

Malta the World Economic Forum’s Global Competitiveness Index 2014-2015

1. Ranked 47 out of 144 in the Global Competitiveness Index

2. Ranked 35 out of 144 in the category ‘Financial Market Development’

3. Ranked 10th in the world for ‘Sound Banking System’

Stable Political and Economic Climate

1. Malta is a Parliamentary Republic with a strong democratic tradition and member of the European Union.

2. Politics is dominated by two long established and respected political parties

3. Acknowledged by the EU for its liberal economic policies and open economy

4. Understood by multi-national companies as a business environment ripe for investment

5. Internationally acclaimed modern legal and taxation framework

The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. It was established by law on 23 July 2002 taking over supervisory functions previously carried out by the Central Bank of Malta, the Malta Stock Exchange and the Malta Financial Services Centre. The Authority is a fully autonomous public institution and reports to Parliament on an annual basis.

The financial services sector incorporates all financial activity including that of credit institutions, financial and electronic money institutions, securities and investment services companies, regulated markets, insurance companies, pension schemes and trustees. The MFSA also manages the Registry of Companies and has also been appointed as the Listing Authority.

Business and Trading Terms & Conditions

AKFX Business Terms & Policies

In these General Business Terms (hereinafter the “Terms”) the following terms shall, unless the context otherwise pledges, have the following meanings and may be used in the singular or plural as appropriate:

Account Opening-Personal Account Opening-Corporate Terms of Business Best Execution Policy

Privacy Notice

No Representation, No Warranty

AKFX uses reasonable efforts to obtain information from reliable sources, but all Publications are provided on an “as is” basis without representation or warranty of any kind (neither express nor implied) and the AKFX disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, the AKFX disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for:

  • the accuracy of any market quotations;
  • any delay, inaccuracy, error, interruption or omission in providing market quotations;
  • and any discontinuance of market quotations.

Privacy and Use of Personal Data

The General Data Protection Regulation, or GDPR, is a European privacy law effective starting May 25, 2018. The GDPR regulates how individuals and organizations may collect, use, and retain personal data, which affects AKFX as well.

AKFX takes data protection and related privacy matters seriously, and we will ensure that all the services we provide align with the GDPR. AKFX platform products were built on principles of transparency, choice and control. We are dedicated to offer the best solutions possible for both people and businesses under the GDPR

When signing up for a demo or live account with any entity of the AKFX, this entity will, for administrative, commercial and/or legal purposes, require and store information about the user, including, but not limited to, name and address. Furthermore, the AKFX may require some financial information for credit assessment purposes, as well as users’ e-mail address to be able to mail the login information. Users’ e-mail addresses will not be passed on to third parties, but may be used by any entity of the AKFX for the promotion of its products and services. Please refer to our Data Privacy Policy for further information.

AKFX Cookie Policy

When data is provided to us, we use it solely for the purposes for which it was provided. Confidential information will not be disclosed to third parties. We recognize that your information is valuable and we take all reasonable measures to protect it whilst in our care.

AKFX Cookie policy

Apart from the additional information provided by this update, the operation of the AKFX Financial Services Ltd. website has not changed or being modified. The details contained within this page is provided to ensure you are fully aware of the ‘cookies’ we have in use, allowing you to make an informed choice about you continue acceptance of them.

What are cookies?

To provide you with a good experience we sometimes place small files known as cookies on your computer. A cookie is a text file made up of letters and numbers that allows us to distinguish your browser/device from another visitor’s browsers/device.

To learn more about cookies and how to manage those via your browser/device please visit aboutcookies.org

AKFX Slippage Policy

Due to AKFX operating as a pure STP broker it is not attainable to disclose the maximum values or setting for slippage. As an STP broker we do not hold any risk and our client base trade with the market based on market execution.

Q32017

In Q32017, average execution time of all trades is 104ms.

In Q32017, total trades are 100,064

In Q32017, average rejection ratio is 0.33%
 

Complaint Handling Policy

Overview 

In accordance the MFSA Investment Service Rules SLC 2.117 AKFX has developed a Complaint Handling Procedure to establish, implement and maintain effective and transparent procedures for the reasonable and prompt handling of complaints received from Retail Clients or potential Retail Clients, and to keep a record of each complaint and the measures taken for its resolution.  
 
Purpose 

The purpose of the Complaint Handling Policy is to set out a procedure how to address a received complaint by covering the following aspects:   
AKFX is committed as part of its Service Commitment to ensure that all received complaints are handled fairly, efficiently and promptly. Furthermore AKFX is committed to identify and remedy any recurring or systematic problems as well as any specific problem identified by the complainant.  
 
Definitions 

What is a complaint?
 
A complaint is a statement that something is unsatisfactory or unacceptable. A complaint can be raised either verbally or in writing from or on behalf of a client about the Company’s provision of or failure to provide a financial service activity, as outlined in the licence of the Company. A complaint can be justified or not.  
A complaint must involve an allegation that the complainant has suffered, or may suffer, financial loss, material inconvenience or material distress.  
Only Retail clients or prospective retail clients are eligible to refer a complaint to the MFSA according to the Rules.  
A complainant is one who is or has been a customer of the Company.  
 
Complaint Handling Procedure 

All complaints have to be made in writing via email, fax or letter. Upon receipt of a complaint the complaint must be forwarded immediately to the Back Office Manager, who will be responsible for the Complaint Handling and internal coordination of the Complaint Handling with the different department within the Company.  
Each received complaints must be acknowledge within 7  days from receipt of the written complaint.  
Upon receipt of a written complaint a Complaint Log must be opened immediately. The Complaint Log shall include the following information: 
AKFX will endeavour to resolve a complaint at the earliest possible stage. 

AKFX will send an acknowledgement and it will include the following information: 
Within a reasonable time period (4 weeks) from the date of receipt of the complaint AKFX will provide the complainant with:   
Within 8 weeks from the date of receipt of the complaint AKFX will contact the Complainant either with a final response or a response which:    
AKFX considers a complaint closed with the following outcomes:   
AKFX will corporate fully and transparently with the MFSA in handling and solving any complaint.  
In cases where the client is not a retail client, such client shall be approached in order to resolve the dispute amicably or by means of alternative dispute resolution mechanisms.

Expert Adviser Policy

Overview 

As set out in the revised Online Forex document issued by the Malta Financial Services Authority (“MFSA”) on 03rd April 2017, the Company is required to inform its clients at the outset about the Company’s policy on the use of Expert Adviser (AE) as part of the clients trading strategy.   
 
What is an Expert Advisor?

The forex expert advisor is a program capable of performing in the terminal (trading platform MT4) any action following the instructions of a trader, without his direct involvement. All tasks are performed automatically or mechanically, which is why the advisors are called experts or mechanical trading systems (MTS). This is a program sending applications to a broker without any intervention on the part of the trader. You install a profit forex expert advisor to the existing forex online trading platform, which is connected to the server broker, adjust all the settings, and the advisor will begin trading according to a pre-set strategy of the client.  
 
Creation of an Expert Advisor  

Forex Expert Advisors for MetaTrader4 are written in the MQL4 programming language. This language was developed by the manufacturer of the trading terminal specifically for writing expert advisors. It allows the trader to program the trading system without any difficulty, which will trade in online mode day and night.  
 
Use of Expert Advisor  

AKFX Financial Services Ltd. does not offer any Expert Advisor program to its clients and does not provide any technical information and support for any Expert Advisor program.  
 
AKFX Financial Services Ltd neither advising nor recommending the use of any Expert Advisors. We simply offer our educated clients with a vehicle to trade their funds using Expert Advisors within forex market. It is the client’s responsibility to understand the functionality, technical requirements, advantages and disadvantages of the chosen Expert Advisor. AKFX Financial Services Ltd does not offer any customer and/or technical support for Expert Advisors chosen/used by the client.  
 
AKFX Financial Services Ltd and its directors, officer and personal will not be responsible for any of the following but not exclusively limited to: 

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