1

1. INTRODUCTION ........................................................................................................................................... 2
2. ORDERS ........................................................................................................................................................ 4
Types of Orders ..............................................................................................................................4
Modifying Orders, canceling Order ..................................................................................................4
Order execution...............................................................................................................................5
Allocation Policy ..............................................................................................................................6

3. OPENING A TRADE ..................................................................................................................................... 6

Opening a trade ..............................................................................................................................6
Orders execution .............................................................................................................................6
Minimum Trading Size and Maximum Trading Size .........................................................................7
Position Duration .............................................................................................................................7
Opposing Positions .........................................................................................................................7

4. CLOSING A CONTRACT .............................................................................................................................. 7

When can a Contract be closed ......................................................................................................7
Stop Out ..........................................................................................................................................8
Rollovers (swap) .............................................................................................................................9
Processing and Execution of Instruments to close Position .............................................................9

5. SPREAD ......................................................................................................................................................10
6. SWAP-FREE ACCOUNT ............................................................................................................................10
7. CENT ACCOUNT ........................................................................................................................................11
8. LEVERAGE .................................................................................................................................................11
9. MARGIN.......................................................................................................................................................12
Margin Requirements .................................................................................................................... 12
Changing Margin Percentage, Margin Call Level, and Stop Out Level .......................................... 13
You Must Monitor Margin .............................................................................................................. 13
Time Allowance for Forwarding Margin ......................................................................................... 13

10. PRICING AND QUOTES .............................................................................................................................13

Quotes .......................................................................................................................................... 13

11. CORPORATE EVENTS...............................................................................................................................14

12. PROFIT AND LOSS ....................................................................................................................................15
13. NOTICES .....................................................................................................................................................15
14. AMENDMENT AND TERMINATION ...........................................................................................................15
Current version of the Client Agreement ....................................................................................... 15
Amending these Trading Conditions.............................................................................................. 15

15. MISCELLANEOUS ......................................................................................................................................16

Governing Law .............................................................................................................................. 16
Illegality ......................................................................................................................................... 16
Delay, Omission, and Waiver ........................................................................................................ 16
Language ...................................................................................................................................... 16

16. INTERPRETATION AND DEFINITION .......................................................................................................16

Interpretation ................................................................................................................................. 16
Definitions ..................................................................................................................................... 16

1. INTRODUCTION

1.1. These Trading Conditions are part of the Client agreement between FBS Markets Inc (“FBS
Markets, we, Company, us, our or ourselves”) and you (“you, your, Client or yourself”). It
governs our dealings with you in the service provisions in the sphere of the financial markets
2
 and financial instruments such as Products, margin foreign exchange contracts (“Margin FX
Contracts”), and contracts for difference (“CFDs”).

1.2. FBS Markets Inc. is a company incorporated in Belize with Certificate of Incorporation No.
000001317. The Company is authorized and regulated by the Financial Services Commission
(Belize) (hereinafter the “FSC”), under license 000102/6, and Address: 2118, Guava Street,
Belize Belama Phase 1, Belize.

1.3. Payment transactions are managed by НDС Technologies Ltd.; Registration No. HE 370778;
Address: Arch. Makariou III& Vyronos, P. Lordos Center, Block B, Office 203.
1.4. The “Client Agreement” between us is constituted by the following documents:
1.4.1. these Trading Conditions;
1.4.2. any additional terms and conditions issued by us and notified to you and accepted by you in
connection with our dealings with you;
1.4.3. our Terms and Conditions;
1.4.4. our Anti-Money Laundering Policy;
1.4.5. our Risk Acknowledgment and Disclosure;
1.4.6. our Complaints Handling Policy;
1.4.7. our Cookies Policy;
1.4.8. our Data Protection and Privacy Policy;
1.4.9. our Website and Trading Platform.
1.5. By using our Website, registering in the Trader Area, opening the Trading Account, using the
Trading Platform, or any of our other Products and services, you acknowledge and agree that:
1.5.1. You have read and understood all the documentation we provided, including these Trading
Conditions. You authorize us to open the Trading Account for you;
1.5.2. The Client accepts these Trading Conditions.
1.6. When we open the Trading Account for the Client, the Client will be bound by the Client
Agreement in all dealings with us.
1.7. These Trading Conditions will come into effect on the earlier of:
1.7.1. the date this version is issued; and
1.7.2. when we accept application to open your Trading Account.
1.8. You must read these Trading Conditions and the Client Agreement carefully in their entirety and
any other documents we supply to you in connection with your Trading Account.
1.9. The Client hereby agrees that communications and notices of these Trading Conditions and/or
any agreements between us or amendments to these Trading Conditions may be made by
electronic means (including, without limitation, electronic messages, website postings, e-mail,
or other electronic means) to the extent permitted by Applicable Laws, rules and/or regulations.
1.10. If your signature or acknowledgment is required or requested with respect to any such document
and you "click" in the appropriate space, or on the “I Accept” button, “Submit” button, or on
similar buttons or links as may be designated by us to show your approval and acceptance
thereof, or take such other action as may be indicated on the Trading Platform, you will be
deemed to have ‘signed’ and/or acknowledged the document to the same extent and with the
same effect as if you had signed the document manually. To the extent permitted under
applicable mandatory law, you hereby waive any rights or requirements under any Applicable
Laws in any jurisdiction that require an original (non-electronic) signature or delivery or retention
of non-electronic records.

3
2. ORDERS
Types of Orders
2.1. The following types of orders to open the position may be used:
2.1.1. “Buy Stop” – expects to open a Position to buy at a higher Quote than the current one at the
moment the Order is placed;
2.1.2. “Sell Stop” – expects to open a Position to sell at a lower Quote than the current one at the
moment the Order is placed;
2.1.3. “Buy Limit” – expects to open Position to buy at a lower Quote than the current one at the
moment the Order is placed;
2.1.4. “Sell Limit” – expects to open a Position to sell at a higher Quote than the current one at the
moment of Order placement. The following Orders can be used to close the Position:
2.1.5. “Stop Loss” – expects to close a previously opened Position at a Quote less profitable for the
Client than the current Quote at the moment of Order placement;
2.1.6. “Take Profit” – expects to close a previously opened Position at Quote that is more profitable
for the Client than the current Quote at the moment of Order placement.
2.1.7. “Buy Stop Limit” - when the Quote reaches a certain level (stop price), a Buy Limit order is
activated. This order allows the Client to buy the Underlying Instrument at a Quote equal to or
lower than the Quote specified in the Order.
2.2. In order to close the Position, the following Orders may be used:
2.2.1. “Stop Loss” is an order to close a previously opened Position at a Quote less profitable for the
Client than the price at the moment of placing the Order.
2.2.2. “Take Profit” is an order to close a previously opened Position at a Quote more profitable for
the Client than the price at the moment of placing the Order.
2.2.3. “Sell Stop Limit” when the Quote of the Underlying Instrument falls to the Stop Price, a Sell
Limit Order is activated. This Order allows the Client to sell the Underlying Instrument at a Quote
equal to or greater than a Quote specified in the Order.

Modifying Orders, canceling Order

2.3. If we become aware that any of the factors set out in clause 2.5 (but not limited to those factors)
are not satisfied when you place an Order (in our reasonable opinion), we reserve the right to
reject your Order. If we have already opened or closed out a Contract before we become aware
that any of the factors are not satisfied (in our reasonable opinion), we may, in our absolute
discretion, either treat such a Contract as void from the outset or close out the Contract at the
prevailing price or take any other action as that we deem necessary (as determined by us).
2.4. The factors include, but are not limited to, the following:
2.4.1. the relevant Quote must be obtained from us;
2.4.2. the relevant Quote must not be expressed as being given on an “indicative only” or similar basis;
2.4.3. if you obtain the Quote electronically via the Trading Platform, your Order and our acceptance
of it must be given while the Quote is still valid;
2.4.4. the Quote must not be a Material Error;
2.4.5. when you place an Order, the number of Underlying Instruments in respect of which the Contract
is to be opened must be neither smaller than the Minimum Trading Size nor larger than the
Maximum Trading Size;
2.4.6. the Force Majeure Event must not have occurred;

4
2.4.7. when you offer to open a Contract, an Event of Default must not have occurred, nor must you
have acted in such a way as to trigger an Event of Default;
2.4.8. when you offer to open or close out any Contract, the opening of the Contract must not result in
you exceeding any credit or other limit placed on your dealings with us;
2.4.9. during market opening, the Order shall not be sent before the Trading Platform receives the first
Quote;
2.4.10. when you place the Order, do not take place in irregular market conditions;
2.4.11. the Client has a sufficient Margin;
2.4.12. unless the Customer has made an unreasonable number of requests compared to the number
of transactions.
2.5. We may refuse to accept an Order (including but not limited to any Order that relates to black-
box trading, scalping, or any similar trading practices), in our absolute discretion and for any
reason, place a limit on any Order or impose other conditions on the acceptance of any
instruction or Order.
2.6. We may at any time use, add, and change filters within the Trading Platform to prevent the
delivery or execution of Orders. We will notify you of any refusal or limitation as soon as
reasonably practicable unless we are prevented from doing so by law or by an order from a
regulatory authority.
2.7. We reserve the right to refuse an Order larger than the Maximum Trading Size. Our Quote for a
Contract equal to or greater than the Maximum Trading Size is not guaranteed to be within any
specific percentage of any Underlying Market or related market quotation, and our acceptance
of your Order may be subject to special conditions and requirements that we will notify you at
the time we accept your Order.
2.8. We will use reasonable endeavors to affect any instructions to cancel or amend Orders as
quickly as possible. If, however, an Order is filled prior to a cancellation or amendment
instruction being effected, you are obliged to accept the Contract on the original terms prior to
your amendment or cancellation instruction unless the Contract is itself canceled or amended.
2.9. Unless otherwise specified in these Trading Conditions, all Orders will remain open until either
canceled by you or purged by the Trading Platform. We do not accept responsibility for
reinstating lapsed Orders or contacting you to seek new instructions.
2.10. The Client can cancel the sent Order only while it is in the queue with “Order is accepted” status.
In this case, the Client should press the “Cancel order” button. Due to the specifics of the Trading
Platform, Order cancellation cannot be guaranteed in this case.

Order execution
2.11. In case of Price Gaps, the Order execution is determined according to the following rules:
2.11.1. If the "Take Profit" level of the pending Order is in the Price Gap during Order opening, once the
Order is opened, Take Profit settings will be annulled. In such a case, a note is added to the
comments (tp canceled/gap);
2.11.2. “Take Profit” Order with a level in the Price Gap is executed at the stated in the Order Quote;
2.11.3. “Stop Loss” Order with a level in the Price Gap is executed at the first Quote after a Price Gap.
In such a case, a note is added to the comments (sl gap/slip);
2.11.4. “Buy Stop” and “Sell Stop” pending Orders are executed at the first Quote after the Price Gap.
In such a case, a note is added to the comments (started gap/ slip);
2.11.5. “Buy Limit” and “Sell Limit” pending Orders are executed as stated in their Quotes. In such
cases, a note is added to the comments (started/gap);
2.11.6. In case a Price Gap is over 300 pips and profits are recorded on it, the Company reserves the
5
 right to limit profit for such an Order by 300 pips. In certain cases, with small Price Gaps Orders
may be executed in the standard mode stated in their Quotes.
2.11.7. Buy and Sell Orders are generally executed at the initial Quotes after the Price Gap. If the Order
is executed at a price valid before the Price Gap, the Company reserves the right to reconsider
the Order data and execute it at the initial Quotes after the Price Gap.
2.11.8. Buy and Sell Orders can be closed at the initial Quotes after the Price Gap.
2.12. Under regular market conditions, the Order will be executed by the Company at the price
specified in the Order.
2.13. If the Order is executed in irregular market conditions, the price at which the Order is executed
may differ from the one specified in the Order, either in favor of the Client or not. In this case,
the Order will be accompanied by the "slip" comment.
2.14. In case any two of the following conditions are met simultaneously on the Trading Account:
2.14.1. The Margin level does not exceed the consequent of the Leverage ratio currently set on the
Trading Account;
2.14.2. 60% or more of the total Position volume is placed at one Underlying Instrument and in the same
direction (sell or buy);
2.14.3. This part of the total Position has been formed within 24 hours period before the market closes;
The Company is entitled to set “Take Profit” for Orders, included in the total Position at the Ask
price level of market closing for the tool minus one point (for sell Orders) or at the bid price level
of the market closing for the tool plus one point (for buy Orders).

Allocation Policy
2.15. To the extent that it is reasonably practicable to do so, the Company will allocate all Contracts
(including Contracts effected pursuant to Orders placed on the Company’s account) in the
sequence in which the Company receives those Orders, subject to filters and compliance review
and to any delay or technical faults connected with or arising through the use of the Trading
Platform or any other delay that is outside the control of Company.

3. OPENING A TRADE
Opening a trade
3.1. You will be able to open or close a Contract and execute Orders on a trade opened with us via
the Trading Platform.
3.2. We will have no liability to you for any technical problems, including a loss of Internet connection,
resulting in you being unable to trade at any given price.
3.3. If our server records are different from your records or recollection of your trading, the version
of events recorded contemporaneously by our computer will prevail, and our obligations to each
other (including the obligation to pay any money) will be assessed and calculated on the basis
that our contemporaneous computer records are correct and are conclusive evidence of the
matters they record.

Orders execution
3.4. The BID price is used to open “SELL” transactions and close “BUY” transactions. ASK price is
used to close “SELL” transactions and open “BUY” transactions.
3.5. Your clicking ‘buy’ or ‘sell’ on the Trading Platform will send a message to us indicating that you
wish to trade on the Product indicated. This message will constitute an offer by you to buy or
sell at the price and trade size chosen. If we accept the trade, we will send you a Confirmation
on the Trading Platform to this effect. Your trade will not have been placed, and no Contract will
6
 come into existence until a Confirmation is generated on the Trading Platform. You must wait
for the Confirmation to appear after clicking ‘buy’ or ‘sell’, and should you not receive the
Confirmation within two (2) minutes, you must notify us immediately.
3.6. If you do not receive a Confirmation and you do not notify us as required, you will be deemed to
have agreed only to the transactions recorded by us. Similarly, if you dispute the contents of any
Confirmation sent by us to you, you must notify us immediately upon receipt by email or
telephone; if you do not, the transactions recorded by us will be deemed to have been agreed
upon by you.
3.7. Subject to any other provision in these Trading Conditions, each Contract opened by you will be
binding on you notwithstanding that by opening the Contract you may have exceeded any credit
or other limit applicable to you or in respect of your dealings with us.
3.8. Once the server has received the Client’s instruction to open a position, it automatically checks
if the Free Margin is sufficient to open the Position:
3.8.1. A “Free Margin” is calculated as Free Margin = Equity - Margin.
3.9. If the calculations for the new position have been done and:
3.9.1. In the event the Free Margin is more or equal to zero, then the position is opened. The process
of opening the position is followed by the relevant record in the server Log-file.
3.9.2. In the event the Free Margin is less than zero, then the Company has the right to decline the
instruction to open the position, and a notification “No Money” will appear and be recorded in
the server Log-file.
3.10. An instruction to open Position shall be deemed executed, and the Position shall be deemed
open once the relevant record appears in the server Log-file.

Minimum Trading Size and Maximum Trading Size

3.11. The size of your Position must exceed or be equal to the Minimum Trading Size and must not
exceed the Maximum Trading Size. These are available on the Trading Platform and our
Website, and you agree that the version on the Trading Platform is the most up-to-date version.
We may change it at any time.

Position Duration
3.12. Other than for excepted Contracts, the Position has no inherent limit to its duration and, subject
to the payment of Margin and other relevant sums, can continue indefinitely.
3.13. We may close any Position opened by you at the prevailing rate if there is an Event of Default.

Opposing Positions
3.14. You may run opposing Positions in a Product. Both Long and Short Positions will appear in your
Trading Account, and they will be treated as two open Contracts. However, we reserve the right
to net the value of the opposing Positions.

4. CLOSING A CONTRACT
When can a Contract be closed
4.1. The Contract may be closed out by selecting a Position in the Trading Platform and then closing
it (on the Trading Platform by clicking the “Close” button for that Position).
4.2. The following Orders “Stop Loss” and/or “Take Profit”, may be used for closing an order.
4.3. Processing Orders to close the Position:
4.3.1. If in the list of open Orders on the Trading Account, there are two or more Locked Positions,
while generating a request or an Order to close any of those, an option “Close by” appears in
7
 the dropdown “Type” list. After choosing it, one or several open Positions in the reverse direction
appear. After marking the needed Position from the list, a button “Close#...by#...” is activated.
By pressing it, the Client closes locked Positions of equal volumes or partly closes two Locked
Positions of different volumes. In such a case, a more minor Position and a symmetric part of a
bigger one close, and a new Position in the direction of a bigger one between the two stays
open, thus receiving a new Ticket.
4.3.2. If in the list of open Orders on the Trading Account, there are two or more Locked Positions
while generating a request or an Order to close any of those, an option “Multiple Close by”
appears in the dropdown “Type” list.
4.3.3. After choosing it, a list of all Positions for the given tool appears, and a button “Multiple Close
By for…” is activated. By pressing this button, the Client closes all Locked Positions for the tool.
In such a case, a new Position(s) stays open in the direction of a bigger total volume, which
receives a new Ticket.
4.3.4. When the note about closing a Position appears in the Log file, this means that the Client’s Order
to close the Position has been processed.
4.3.5. If the Order to close a Position has been submitted for processing before a first Quote appears
on the Trading Platform at market opening, such an Order shall be declined by the Company.
In the Client terminal window, a message “No price” will appear. The Company is entitled to
cancel trade when the Client’s order to close a Position at a Quote of a previous day closes by
mistake. In such a case, the Company contacts the Client and informs them about it.
4.4. If a “Market execution” type is used for a trading tool, the Quote for closing an Order may differ
from the requested one.
4.5. We may exercise any of our rights under these Trading Conditions to close a Position at any
time.
4.6. Mandatory position closure:
4.6.1. If the Margin level is lower than 40% on the Trading Account, a Margin Call occurs. The
Company is entitled but not liable to close Client Positions. The decision to close Positions is
made by the Company.
4.6.2. The Company is entitled to mandatory closing of the Client open Positions without prior
notification of the latter one if a Margin level is less than or equal to 20% of the necessary Margin
for maintaining open Positions.
4.6.3. When, after a mandatory Position closure, the Trading Account has a negative Balance,
compensation is added to the Trading Account and noted in a Log file with the notification
Balance, which sets the Trading Account to zero. However, in exceptional cases (when the
Company considers the Client’s actions intentional), the Company reserves the right to claim a
debt payment from the Client.
Stop Out
4.7. The Company is entitled to close the Client’s positions without the Client's consent or prior notice
if the Margin level drops below 20% for all accounts.
4.8. The server monitors the Margin level by generating the Stop Out instruction to close a position
without prior consent. Stop Out is executed at the current Quote following the priority of the
queue.
4.9. Once the position has been closed, the relevant record appears in the server Log file with “Stop
Out.”
4.10. If the Client has several Open Positions, the first position that must be placed in the queue in
order to be closed is the one with the highest Floating Loss.
4.11. When the last Open Position is closed, and there is no Price Gap or Price Gap on the Market
Opening, the Company shall guarantee that the execution of Stop Out for the last position will
not result in Negative Equity (i.e., below zero) on the Client’s Trading Account.
8
4.12. Negative Balance protection is provided to all accounts held by the Company. In case the client
Balance goes negative after all positions close, the Company will cover the negative Balance
and will not request Clients to cover the required amount. However, in exceptional cases (when
the Company considers the Client’s actions intentional), the Company reserves the right to claim
a debt payment from the Client.
4.13. The Company reserves the right to close any Open Positions of the Client without a warning in
the event of a dispute.
4.14. We will not be responsible for any Loss you may suffer or incur in connection with any such
closing of your open Positions or any lack of closing thereof.

Rollovers (swap)
4.15. Rollover is the process of extending the settlement date of an open position (i.e., the date by
which an executed trade is due to be settled). The forex market allows two (2) business days
for settling all spot trades, which implies the physical delivery of currencies. In margin trading,
however, there is no physical delivery, so all open positions must be closed daily at the end of
the day (00:00 MT server time) and re-opened on the following Trading Day. This pushes out
the settlement by one more Trading Day. This process is called rollover.
4.16. We may allow open positions to be rolled over in accordance with your instructions. Rollover is
agreed on through a swap contract, which comes at a cost or a gain. We do not close and re-
open positions but shall charge you a fee in respect of each such Position and debit/credit your
Trading Account(s) for positions held open overnight, depending on the current interest rates.
As 00:00 MT server time is considered to be the beginning and the end of a forex Trading Day,
any positions that remain open at 23:59 (00:00 MT server time, except for the week of daylight
saving time and vice versa) sharp are subject to rollover and shall be held overnight. Positions
being opened at 00:01 MT server time are not subject to a rollover until the next day, but if you
open a Position at 23:59 MT server time, a rollover shall take place at 00:00 MT server time. For
each Position open at 23:59 MT server time, a relevant credit or debit appears in your Trading
Account usually within 1 hour and shall be directly applied to your equity.
4.17. The Rollover Fees that we charge shall be published on our Trading Platform. We shall attempt
to collect the respective Rollover Fees from the Balance of your Trading Account. In the event
that we are unable to collect such Rollover Fee(s) from the Balance in your Account, we reserve
the right to close part or all of your open positions. You shall be liable for promptly paying all
Rollover Fees(s), even if all Margin previously deposited by the Client has been lost.
4.18. In the absence of clear and timely received instructions from you, we are authorized, at our
absolute discretion, to offset all or any portion of the positions in your Trading Account(s) or to
make or receive delivery on your behalf upon such terms and by any methods deemed
reasonable by the Company.

Processing and Execution of Instruments to close Position

4.19. The Company has the right to requote if the current Quote changes while the Company
processes the Client’s request or instruction. The requote window will be enabled if, in the
“Order” window, there is a tick in the “Enable Maximum deviation from quoted price” box and
the ‘Maximum deviation' ' field equals zero. If the Client does not press “OK” within three (3)
seconds, the Quote becomes invalid, and it will be concluded that the Client refuses to close a
position.
4.20. In the event that the Client amongst open positions wishes to close against a matching open
position of the same Underlying Instrument then the Client may do so by choosing from the
drop-down list “Close by” item in the “Type.” Upon matching/closing the Client’s chosen
Positions, the Client will have either a zero or net Long/Short Position based upon the net overall
exposure. The Client should note that the net overall Position will be allocated to a new Ticket.
The same applies if the Client has multiple positions by choosing the “Multiple Close by” item
from the drop-down list in the “Type.”
9
4.21. An instruction to close a position is deemed executed, and the Position is deemed closed once
the relevant record appears in the server Log-file.

5. SPREAD
5.1. Spread is the difference between the Bid and Ask prices of the Underlying Instrument.
5.2. In regular market conditions, the Company keeps the Spread within the range stated in the
Contracts specifications.
5.3. Spread can be increased:
5.3.1. For all Company Clients without prior notification in the event the conditions become different
from the regular ones; for all Clients with an obligatory prior update of Contracts specification
changes at the Website;
5.3.2. For all Clients without prior notification in Force Majeure Event;
5.3.3. For any request exceeding regular market volume for the tool stated in the Contracts
specification.
5.3.4. At the time of Market opening (on Monday) and Market closing, as well as at the time of low
market liquidity and when a market situation is conditional on high Spreads.
5.4. For the Underlying Instrument with fixed Spread or fixed commission, the Company reserves
the right to increase the Spread in case the Spread on the basic Contract exceeds the size of
us at our reasonable fixed Spread.
5.5. You acknowledge that our Spreads can widen significantly in certain circumstances, that they
may not necessarily be the same size as any examples given on the Website, in the Software
and/or in the Trader Area, and that there is no limit on how large they may be.
5.6. You acknowledge that when a Contract is closed out, the Spread may be wider or smaller than
the Spread when the Contract was opened. You acknowledge that such figures will be set by
us at our reasonable discretion.

6. SWAP-FREE ACCOUNT

6.1. Swaps are calculated according to the Contract Specification found on the Website, in the
Software and/or in the Trader Area.

6.2. In terms of exotics for Swap free accounts for long-term strategies, the Company charges a
fixed weekly commission starting from the second Sunday if the order wasn’t closed by that day.
The weekly commission is fixed and determined on the Website. This commission is not an
interest and depends on whether the trade is open to buy or sell.

6.3. Upon detecting:

6.3.1. the usage of a Swap Free Account for performing Arbitrage Orders; and/or

6.3.2. the use of the carry trade-related strategies; and/or

6.3.3. an inappropriate usage or purposeful usage of a Swap Free Account to make additional profits,
the Company reserves the right to revoke the Swap Free status granted to any real Trading
Account at any time without being obliged to provide any explanation or justification.

6.4. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, or other forms
of deceitful or fraudulent activity in regard to any Swap Free Account, including those referred
to in clause 5.3. of the Client, we reserve the right, at any time and with immediate effect, to:

10
6.4.1. revoke the Swap Free status from any and all real Trading Accounts of the Client that have been
converted to a Swap Free Trading Account; and/or

6.4.2. correct and recover any un-accrued swaps and any related un-accrued interest expenses and/or
costs pertaining to any and all of such Client’s Swap Free Trading Accounts during the period
for which such Trading Accounts were converted into Swap Free Trading Accounts; and/or

6.4.3. close all Trading Accounts of such Client, nullify all trades carried out and cancel all profits or
losses garnered in such Client’s Trading Accounts.

6.5. Clients are not allowed to use Swap Free Accounts to make profits from Swaps and may not
request the payment of any swap amounts that have been lost as a result of converting their
real Trading Account(s) into one or more Swap Free Account(s) for the period during which their
real Trading Account(s) has/have been converted into one or more Swap Free account(s).

7. CENT ACCOUNT
A Cent Account can only be opened for the Client through the Partner's referral link. If the Cent
Account is opened for the Client, the following terms and conditions shall apply:
Initial deposit from $1

Spread floating spread from 0.7 pips

Commission from 0%

Leverage 1:1000

Maximum open positions 500

Order volume from 0.01 to 1000 lots

(with 0.01 step)

Market Execution from 0.01 sec, STP

Please note that it is not indicated in MetaTrader 4 and MetaTrader 5 that the amount is
displayed in cents. If you deposited $10, you would see $1000 in the Trading Account, which
actually means 1000 USD cents.

8. LEVERAGE

8.1. The Сlient has the right to change the Leverage at any time, including when the Trading Account
is in trading mode (when there are open Orders).

8.2. The Company is entitled to change the Leverage at any time without prior notification on any or
all of the Trading Accounts depending on the sum of Equity on each or all of Client's Trading
Accounts in accordance with clause 6.3. of the Trading Conditions.

8.3. The Company is entitled to apply clause 6.2. to already opened Positions as well as to reopened
Positions.

Client's equity (USD or EUR) Leverage*

Standard Account Cent Account

11
 0 – 199 1:1000
1:3000

200 – 1999
1:2000

2000 – 4999
1:1000

5000 – 29 999 1:500

1:500

30 000 – 149 999 1:200

1:200

150 000 or more 1:100 1:100

1:50 1:50
1:25 1:25
1:10 1:10
1:5 1:5
1:1 1:1

*the maximum level of leverage may be different if required by the laws of the Client's country.
8.4. In order to minimize the Client's risks at the time of market opening on Monday in case the Client
keeps open Orders during the weekend, the Company reserves the right to lower the leverage
and change Margin Requirements severalfold.
8.5. The Leverage for trading metals, indices, and energies at the Trading Account is set at:
8.5.1. 1:500 for derivatives on all metals;
8.5.2. 1:200 for indices and energy derivatives (with the exception of paragraph 8.5.3);
8.5.3. 1:500 for US30, US100, US500;
8.5.4. 1:100 for stock CFDs.
8.6. The Company is entitled to change Leverage at any time without prior notification on any or all
of the Trading Account depending on the sum of Equity on each or all of the Trading Account in
accordance with clause 8.3 of these Trading Conditions.
8.7. Margin requirements, as specified in this clause, may vary depending on the size of the position.
Further details can be found in the specification of an individual symbol.

9. MARGIN
Margin Requirements
9.1. Before you acquire the Product from us, you will be required to provide us with the Initial Margin
for that Contract. The full value of the Initial Margin must be placed in the Trading Account before
the Contract is opened.

12
9.2. Owing to the volatility of the market, the amount of required Margin may change after a Contract
has been opened, requiring a further payment for the Margin.

Changing Margin Percentage, Margin Call Level, and Stop Out Level

9.3. We may vary the Margin Percentage, Margin Call Level, and Stop Out Level at any time at our
discretion, subject to the Aggregate Margin Close-Out Protection.
9.4. We will notify you of a change in the Margin Percentage, Margin Call Level, and Stop Out Level
on your Account on the Trading Platform or by any other means, including telephone, email, or
by posting notice of the increase on the Website. Any changes will take immediate effect unless
otherwise specified by us, on notice to you, including any deemed notice, and may apply to
existing and new Contracts.

You Must Monitor Margin

9.5. Notwithstanding any other terms of any document, we are not under any obligation to keep you
informed of your Account balance, or Margin Requirements or to make Margin Calls.
9.6. Through the Trading Platform, you will have access to your Trading Account and sufficient
information to enable you to calculate the amount of any Margin Requirement due from you in
the Base Currency under these Trading Conditions and the total amount of Margin due from you
in the Base Currency using our Exchange Rate. It is your responsibility to ensure that you obtain
all relevant information in respect of your Trading Account (including when placing any orders
over the telephone, to request such information before placing any orders to open or close a
Position), including all information in respect of your current open Positions. We will not be
responsible for any losses you may suffer or incur as a result of you not obtaining or requesting
any such information.
9.7. You accept and agree that we may not be able to provide you online access through the Trading
Platform to information on the Trading Account. You accept and agree that we may not provide
a Margin Call before exercising our rights (including closing your Positions) under these Trading
Conditions.

Time Allowance for Forwarding Margin

9.8. We are not obliged to allow you time to forward further funds to meet such Margin Requirements
before exercising our rights (including closing out your Positions) under these Trading
Conditions. However, where we, in our absolute discretion, do allow you time to meet your
Margin Requirements, that permission will only be effective once it is confirmed in writing by us
and only to the extent specified in the written confirmation given through a Confirmation.

10. PRICING AND QUOTES

Quotes
10.1. Upon your request and in accordance with this clause, we will Quote a higher and lower figure
for each Contract (i.e., the Bid Price and Ask Price). These figures will be effectively based on
comparable Bid and Ask prices in the Underlying Market and aggregate prices in the Underlying
Markets if the Underlying Instrument trades in multiple Underlying Markets.
10.2. The Company reserves the right to reconsider the provided Quotes for any period if, according
to the Company, such Quotes fall within the definition of an “Off-market Quote” and/or “Irregular
market conditions” and/or in the “Terms and definitions” section and revise the financial results
of the trading operations executed at such Quotes.
10.3. You acknowledge that our Quotes for dealing with the Products are indicative only and are
subject to the actual Quote at the time of execution of your Contract. There is no assurance that
the Contracts will actually be dealt with at the indicative Quote, especially if you delay placing
the Order.
13
10.4. You should be aware that the market prices and other market data that you view through the
Trading Platform or other facilities that you arrange yourself may not be current or may not
exactly correspond with the prices for the Products. In case the current Quote of the Underlying
Instrument changes at the moment when the Company is processing the Client’s request, the
Company reserves the right to use the new price (Bid/Ask).
10.5. If you access your Accounts and the Trading Platform outside of the hours when Orders may be
accepted, you should be aware that the Orders may be processed at a later time when the
relevant exchange or market is open to trading, by which time the market prices (and currency
exchange values) might have changed significantly.
10.6. We may notify you of certain Products in respect of which we will not provide a Quote,
restrictions on the amount for which we will price, or other conditions that may apply to our
Quote, but any such notification (or failure to notify) will not be binding on us.
10.7. You should note that:
10.7.1. prices that may be quoted or traded upon from time to time by third parties do not apply to trades
and dealings between you and us;
10.7.2. we, in our absolute discretion, may Quote different prices to different Clients and trade at
different prices with other Clients;
10.7.3. the rights and obligations of you and us under Contracts are principally to make and receive
such payments as are provided in these Trading Conditions.
10.8. Orders of all types shall not be placed closer than a stated number of points to the current market
Quote. The minimum distance in points from the level of a placed order to the current Quote
(pending order level) for each tool is stated in the specifications on the Website.

11. CORPORATE EVENTS

11.1. In the event that an Underlying Instrument becomes subject to a corporate event, as set out
below, the Company will take the appropriate steps to adjust the Trading Account for the effect
of the event on your Position, preserving the economic equivalent of the rights and obligations
attached to your transaction and/or Contract with the Company, on the ex-date of the event (i.e.,
the day the affected instrument’s price will incorporate the effect of the event.
11.2. Corporate events shall include the following:
11.2.1. Dividends; if the Underlying Instrument grants dividends (CFD Cash Index or stock), a cash
adjustment will be made, equivalent to that paid to the Client with an open Position in the
Underlying Instrument.
The operation of accruing or writing off dividends is performed as a separate Balance sheet
operation and depends on the direction of the Position. If the Position is Sell, the dividend sum
is written off; if it is Buy, the dividend sum is accrued. We try to make such adjustments as timely
as possible. However, as we are dependent on notification from an external third party, we shall
not be liable for the consequences of any delayed adjustments.
11.2.2. Takeovers or mergers (including spin-offs), depending on their terms, may result in a cash
adjustment similar to that of dividends;
11.2.3. Delisting/voiding of a tradable Underlying Instrument that will result in the closing of Positions: it
should be noted that in order to protect the Company and its Clients, the Company reserves the
right, at its sole discretion, to remove and/or seize offering Underlying Instrument, whenever the
issuing corporation of such Underlying Instruments has filed for bankruptcy, even if such an
action does not result in the corporation’s liquidation; the mere filing of a corporation for
bankruptcy, is deemed sufficient indication for the Company to proceed with the immediate
delisting of the relevant financial instrument.
If the Company receives notice or becomes aware that the Underlying Instrument for any
instrument held by you in the Trading Account may be delisted and/or withdrawn and/or
14
 canceled from any exchange (or any part of any exchange) and the Company considers that it
will be unable to provide Underlying Instrument in respect thereof, it will endeavor to close any
open Orders on your behalf at such time, price and in such manner as it determines, including
but not limited to on the basis of the last quotation available.
11.2.4. Any other event of a similar nature to the aforementioned events that may have a concentrating
or dilutive effect on the market value of the Underlying Instrument.

12. PROFIT AND LOSS

12.1. You further understand that payment will pass between us equal to the difference in a value
expressed in the Base Currency between the opening price of all Positions and their Closing
Prices. If you make a profit, we must pay you a sum equal to that profit. If you make a Loss, you
must pay us a sum equal to that loss.
12.2. In case the Company has reasons to believe that the Client operates two or more Trader Areas
under different registration data (e.g. opening opposite Orders on the same Product that are left
open over the weekend or during the period between trading sessions), The Company reserves
the right to deduct the losses exceeding the Balance of one Trading Account from the funds of
another Trading Account belonging to the Client.

13. NOTICES
13.1. Any notice or other communication given or made under or in connection with the matters
contemplated by these Trading Conditions will, except where oral communication is expressly
provided for, be in writing and will be sent to the address below:
13.2. FBS MARKETS Inc
13.3. Address: 2118, Guava Street, Belize Belama Phase 1, Belize.
13.4. Email Address: support@fbs.com;
13.5. You: The address and electronic mail address provided by you for this purpose are on the
Application Form.

14. AMENDMENT AND TERMINATION

Current version of the Client Agreement
14.1. You agree that the version of these Trading Conditions published on our Website or otherwise
notified to you at the time of entering into a Contract governs that Contract.

Amending these Trading Conditions

14.2. The Company has the right to amend these Trading Conditions and the Client Agreement. All
changes shall be effective in accordance with the day of their publication on the Website and
shall apply to all open Positions and unfilled Orders, after the effective date of the changes.
Unless it is impractical under the circumstances, we shall give the Client ten (10) business days’
notice. By continuing to use the services after the changes have been published, the Client shall
be deemed to accept and agree to the amendment. If the Client objects to the amendment, the
Client must notify us within ten (10) business days from the relevant date of the publication on
the Website. If the client does not accept the amendment, the Trading Account shall be
suspended, and the Client shall be required to close the Trading Account as soon as reasonably
practicable.
14.3. You understand that these Trading Conditions cannot be modified by you via any verbal
statements or written amendments without written acceptance or Confirmation by us.

15
15. MISCELLANEOUS
Governing Law
15.1. These Trading Conditions and each Contract between us and you will be governed by and
construed in accordance with the law of Belize.

Illegality
15.2. If at any time any provision of these Trading Conditions is or becomes illegal, invalid, or
unenforceable in any respect under the law of any jurisdiction, neither the legality, validity, or
enforceability of the remaining provisions of these Trading Conditions under the law of that
jurisdiction nor the legality, validity, or enforceability of such provisions under the law of any
other jurisdiction will be in any way affected.

Delay, Omission, and Waiver

15.3. The following provisions apply to any delay, omission, or waiver:
15.4. No delay or omission on our part in exercising any right, power, or remedy provided by law or
under these Trading Conditions, or partial or defective exercise thereof, will:
15.4.1. impair or prevent further or other exercises of such right, power, or remedy; or
15.4.2. operate as a waiver of such right, power, or remedy.
15.5. No waiver of any breach of any term of these Trading Conditions will (unless expressly agreed
in writing by the waiving party) be construed as a waiver of a future breach of the same term or
authorizing a continuation of the particular breach.

Language
15.6. If these Trading Conditions or the other documents are provided to you in any language other
than English, then please note that it is for information only, and the governing language of these
Trading Conditions and any dispute arising hereunder is English. Where a foreign language
version contradicts the English version of these Trading Conditions, the English version will
prevail.
15.7. The Client must provide the relevant documentation or information to substantiate the
chargeback cycle or compliance case in English or with an accompanying translation in English.
The Client accepts and understands that the official language of the Company is English.

16. INTERPRETATION AND DEFINITION

Interpretation
The defined terms in the Terms and Conditions are capitalized and set out in these Trading Conditions.
If there is any conflict between the terms of these Trading Conditions and any Applicable Law, the
Applicable Law (to the extent it cannot be excluded or modified by these Trading Conditions) will prevail.
In these Trading Conditions, any reference to a person includes bodies corporate, unincorporated
associations, partnerships, and individuals.
Headings and examples in these Trading Conditions are for reference only and do not affect the
construction of the Trading Conditions.
In these Trading Conditions, any reference to any enactment includes references to any statutory
modification or re-enactment of such enactment or any regulation or order made under such enactment
(or under such a modification or re-enactment).
Definitions
In these Trading Conditions, the following terms and expressions have, unless the context otherwise
requires, the following meanings:

16
CLIENT AGREEMENT means these Trading Conditions, the Application Form, the Trading
Conditions the Anti-Money Laundering Prevention Policy; the Risk
Acknowledgment and Disclosure, the Data Protection and Privacy Policy,
and any information on our Website or Trading Platform, as amended,
varied, or replaced from time to time, which together govern our relationship
with you

AGGREGATE means the closure of one or more of a client's open CFDs on terms most
MARGIN CLOSE-OUT favorable to the client when the sum of funds in the CFD Trading Account
PROTECTION and the unrealized net profits of all open CFDs connected to that Trading
Account falls to less than half of the total Initial Margin protection for all those
open CFDs
means all:
APPLICABLE LAWS
(a) applicable provisions of laws and regulations, including all relevant
rules of government agencies, exchanges, trade, and clearing associations,
and self-regulatory organizations, that apply to the parties, the Client
Agreement, and the transactions contemplated by the Client Agreement;
(b) applicable European law; and
applicable rules, regulations, customs, and practices from time to time of
any exchange, licensed financial market, clearing house, licensed clearing
and settlement facility, or other organization or market involved in the
conclusion, execution, or settlement of a transaction or Contract and any
exercise by such exchange, clearing house or other organization or market
of any power or authority conferred on it.
the trading strategy where “Arbitrage Orders” are used
ARBITRAGE
an asset is bought at one market, and at the same time, its analog is sold
ARBITRAGE ORDER
at the other. Thus, the difference in the value of the assets is fixed in
different stocks. As a result of this strategy, regardless of the future market
progress portfolio, the value stays approximately fixed (as a result of
compensation by reciprocal trade Orders).
An order is also considered Arbitrage when it consists of only buying
(selling) a financial asset at one market without selling (buying) the analog
at another market, provided there is a significant Price Gap between quotes
of these two connected markets at the moment of opening or closing an
order
means the higher Quote in the Quotes. The Quote at which the Client can
ASK
buy
A total financial result of all complete transactions and non-trading
BALANCE
operations on the Trading Account
means the lower Quote in the Quotes. The Quote at which the Client can
BID
sell
means any day other than a Saturday, Sunday, or public holiday on which
BUSINESS DAY
banks are open for business in Belize
means a contract for difference that we offer to our clients from time to time
CFD
under the terms of these Trading Conditions
means oil, gas, or such other commodities as published through the Trading
COMMODITY
Platform

17
 means a form of notification, which may be provided by us electronically,
CONFIRMATION
including via the Trading Platform or the Internet, confirming entry into a
Contract
means any contract, whether oral or written, including any derivative,
CONTRACT
option, future, contract for difference, or other transaction relating to such
financial Products entered into by us with you. A Contract is also referred to
as a Position
means the relevant unit for the type of Contract you wish to trade with us in
CONTRACT UNIT
accordance with the terms of the Terms and Conditions

means a trading operation volume, the basis of which is a change of one

CURRENCY PAIR
currency value towards another currency

means the Exchange Rate we may offer to you from time to time having
EXCHANGE RATE
regard to the applicable prevailing Interbank Rates and our markup, and
which is available to you from us via the Trading Platform or on request
Any of the following events constitute Events of Default, which upon their
EVENTS OF
occurrence give the Company the right to take action in accordance with the
DEFAULT
clause:
● an Insolvency Event occurs in relation to the Client;
● the Client is a natural person, and the Client is deceased or deemed
incapacitated;
● the Client fails to provide any Margin or other sum due under the
Client Agreement in respect of any positions, or the Margin held by
the Company in respect of any open positions fall below our Margin
Requirements;
● the Client is in breach of any obligation, warranty, or representation
made under this Terms and Conditions (whether by act or omission),
and/or any information provided to the Company in connection with
these Terms and Conditions is or has become untrue or misleading;
● the Client knowingly took advantage of an incorrect price when
dealing with us, and a reasonable person in the Client’s position
would have known the price offered was incorrect or the Company
considers that the Client has, or has attempted to, manipulate the
Trading Platform or any other system of ours in any way;
● any fee or other payments due to the Company are not paid in
accordance with the Client Agreement;
● at any time or for any period deemed unreasonable by the Company
the Client is not contactable, or the Client does not respond to any
notice or correspondence from us;
● the Company reasonably believes it is prudent for the Company to
take any or all of the actions described in clause light of any relevant
legal or regulatory requirement applicable either to the Client or to
us;
● the Company considers that there are abnormal trading conditions;
● the Company considers it necessary for the protection of our rights
under the Client Agreement;
● the Company is unable to quote the price of the products due to the
unavailability of the relevant market information for reasons beyond
our control;
● the Company considers that the Client may be in breach of or have
failed to comply with any Applicable Law;
● the Company are so requested by regulatory body or authority;
● where the Company has not received, within fourteen (14) Business
Days of a written request, all information which the Company has
requested in connection with the Client Agreement;
18
 ● the Client’s activity or interaction with the Company is deemed
inappropriate and/or incorrect. The Client's behavior goes beyond
the scope of business communication;
● the Company reasonably believes that any one or more of the
circumstances set out above is likely to happen or in any other
circumstance where the Company reasonably believes that it is
necessary or desirable to protect ourselves or all or any of our other
clients.

means the market index on which a CFD is based

INDEX

Initial Margin requirement = (Quantity of Contract Units x Contract Price) x

INITIAL MARGIN
Margin Percentage.

means the wholesale rate quoted between banks and other liquidity
INTERBANK RATE
providers

means funds in the Trading Account, which can be used to open a new
FREE MARGIN
Position. It is defined by the formula: Free Margin = Equity - Margin

means opening multiple positions in opposite directions on one trading

LOCKED POSITIONS
instrument to reduce market volatility and potential losses

means the file that is created in the Trading Platforms to record all the
LOG-FILE
Client’s requests and instructions with accuracy. The Log file is the main
source of information when considering dispute situations. Information on
the server log file has absolute priority over other arguments while
considering a dispute situation, including information at the client terminal
log file
means the buying tool with an expectation of a rate rise. Applicable to
LONG POSITION
Currency Pairs: the buying base currency for the Quote currency

means damage, loss, cost, expense, or liability incurred by the person

LOSS
concerned, however it arises and whether it is present or future, fixed or
unascertained, actual, or contingent
means the amount that you must pay to us and have in your Trading
MARGIN
Account to enter into or maintain a Contract with us in accordance with these
Trading Conditions
means a call on you normally made via the Trading Platform, requesting
MARGIN CALL
you to top up the amount of money you have in your Trading Account as
Margin
means a particular Margin Level at or below which the Trading Platform will
MARGIN CALL LEVEL
automatically trigger a Margin Call

means the percentage of Net Equity to Total Margin Requirements

MARGIN LEVEL

19
 means a contract between you and us for the taking of a spot Position in a
MARGIN FX
foreign currency
CONTRACT

means such percentage as specified by us, and as amended by us in

MARGIN
accordance with clause 9.3 of these Trading Conditions from time to time
PERCENTAGE

means the amount of money that you are required to pay to us and deposit
MARGIN
with us for entering into a trade and/ or maintaining an open Position
REQUIREMENT

means the aggregate of the current cash Balance in your Trading Account,
NET EQUITY
adding all your realized and unrealized profits and losses and deductions
applicable charges and fees payable to us.
Equity = Balance + Floating Profit - Floating Loss
means an offer made by you under the Client Agreement
ORDERS

TRADER AREA means section on the Website or software provided by the Company is
where the Client can manage the Trading Account and interact with the
Company. A Trader Area is created when the Client registers. Each Client
can have only one Trader Area with completed identity verification. This
applies in all the following cases:
● if the Client registered on the Website;
● if the Client registered in the mobile application;
● if the Client is a private person with a registered profile;
● if the Client is a director of a legal entity with a registered profile.
means the Long or Short Position you have taken with us. The Position has
POSITION
the same meaning as the Contract in the Client Agreement

PRICE GAP means any of the two situations:

- The Bid of the current Quote is bigger than the Ask of the previous Quote;
- The Ask of the current Quote is smaller than the Bid of the previous Quote.
means any of the Margin FX Contracts and CFDs offered by us
PRODUCTS

the second currency is identifying a Currency Pair with which the Client can
QUOTE CURRENCY
buy or sell the base currency

means selling a Currency Pair or the contract for difference with

SHORT POSITION
expectations of a rate decrease. Applicable to Currency Pairs: selling of the
base currency for the Quote currency
means the difference in the bid and offer prices of a Contract quoted from
SPREAD
time to time by us and, where appropriate, expressed as a percentage of
the relevant price
means the level of Margin Level that will allow the Company the ability to
STOP OUT LEVEL
close all or some of your open Contracts

20
 means condensed report of the changes in Quote, trade volume and other
TICKET
information of the stocks being traded on the market

means Trading Account you have with us. Trading Account types are listed
TRADING ACCOUNT
on the Website

means the sum of your Margin Requirements for all of your open Positions
TOTAL MARGIN
REQUIREMENT
means Monday to Friday (Trading Platform Time), including public holidays
TRADING DAY
during which Trading Platform is open for trading. A Trading Day starts at
00:00 and ends at 24:00 of the Trading Platform Time
means the trading platform we make available to you by which you may
TRADING PLATFORM
trade with us online in our Products. This includes any electronic service
provided by us, for example, an internet trading service offering clients
access to information and trading facilities via an internet service, a WAP
service, and/or an electronic order routing system and relevant software
provided by us to enable you to use an electronic trading service such as
FBS - Trading Broker, MetaTrader4 (https://fbs.com/trading/platforms/mt4),
MetaTrader5 (https://fbs.com/trading/platforms/mt5).
means the time zone the Trading Platform is set in. This may change from
TRADING PLATFORM
time to time and is generally GMT+2 or GMT+3. Please refer to the Website
TIME
for the time zone of the Trading Platform Time
means the equity, Index, Commodity, currency, futures contract, stock, or
UNDERLYING
other instrument or asset or factor the reference to which the value of a
INSTRUMENT Contract is determined

UNDERLYING means the underlying market in which the Underlying Instrument is traded
MARKET
means the internet address https://fbs.com and includes the Trading
WEBSITE
Platform

21