Forex trading terms and conditions
Where your Instruments are denominated in currencies other than the default currency of your primary Revolut Account e. USD , fluctuations in foreign exchange rates may impact your profits and losses connected to your trading in such Instruments. We do not provide, nor can we control, the prices for the Instruments you may buy or sell via the Revolut App. The market price of Instruments is influenced by a broad array of factors and can change rapidly and unexpectedly, meaning the value of those Instruments, and your related profits and losses on your Positions, can also change rapidly and unexpectedly.
- Forex Basic Terms.
- Terms and Conditions.
- Forex Glossary.
Amongst other things, prices of Instruments can be subject to gapping where the price of the Instrument opens significantly above or below the previous day's closing price and slippage where the price an Instrument is executed at is different to the price to that which was quoted at the time the Order was submitted , especially in periods of market volatility. You have the sole responsibility of monitoring the value of the Positions you hold and you should ensure that you can access the Revolut App on an ongoing basis so as to do this.
- how to be successful in trading binary options.
- Foreign Exchange Disclosures (Terms and conditions of FX Dealing)!
- Terms & Conditions.
The Instruments which are shares made available via the Revolut App are all admitted to trading on a regulated market, and in the event that you wish to sell your Instruments, a corresponding buyer of those Instruments must be found in the underlying market. Whilst certain Instruments can be very liquid, you should be aware that others, such as the shares of smaller companies or of companies located in other geographies or territories, can be less liquid and it is not guaranteed that there will be a buyer for your Instruments.
Therefore, you may not be able to realise your investment or realise it at its actual market value.
In some circumstances, such as instances of market volatility or where trading in a particular Instrument or on a particular underlying market has been suspended or otherwise restricted, it may not be possible to find a buyer for your Instruments, meaning you will not be able to liquidate your Positions. The Instruments which are fractional shares cannot be traded on regulated markets such as public exchanges and as such may be subject to greater liquidity risk than full shares.
If you close your trading account, all Positions in Instruments will need to be sold via the Revolut App to or through the Third Party Broker, potentially resulting in commission charges depending on the type of Account you have, as set out in our Terms of Business. At present you cannot transfer Positions in shares in your account with the Third Party Broker to another broker.
Additionally, Positions in fractional shares cannot be transferred to another broker save in the event of the Third Party Broker's insolvency and must be sold via the Third Party Broker. Whilst we will try to make the Revolut App available to you without interruption, we cannot guarantee that the Revolut App will always be available to you. In these circumstances, your Orders may not be able to be submitted and you may not be able to monitor your Positions via the Revolut App. You should be aware that various tax regimes may apply to your trading in Instruments depending on your personal tax status and the rules and regulations in force from time to time.
You have the sole responsibility of determining the relevant tax impact to your trading and you should consult an appropriate professional advisor if you have any questions or doubts in this regard. Revolut does not provide tax advice. You should ensure that you have appropriate financial resources to engage in the buying and selling of Instruments, and that you have the ability to bear any losses that may arise from your trading activity. You should not rely on being able to generate profits in order to pay down or relinquish any credit or financing you have arranged for the purposes of buying and selling Instruments.
You should not enter into any borrowing agreements in order to fund your purchase of Instruments via the Revolut App. Whilst Instruments can often have rights to dividends and, in certain instances, the right to vote on certain matters at general meetings of the issuing company, you should not assume that you will be able to exercise these rights. The payment of dividends by a company is not guaranteed and you may not have the opportunity to exercise any voting rights attaching to those Instruments.
Changes to current legislation and regulations could give rise to changes in the price of Instruments, which could impact your profits or losses. The impact of such legal and regulatory changes can be material and unexpected, and may impact certain companies, markets and jurisdictions more than others. This document forms the basis of the agreement between you and us Revolut Trading Ltd " us ", " Revolut Trading " or " we " relating to the provision of certain execution only order transmission services by us to you in the Instruments offered via the Revolut App.
This agreement relates only to the provision of execution-only order transmission services by us to you, and where we provide additional services to you, those services will be governed by our other terms as appropriate which you can find here. This agreement will apply to you from the date that you open your Account.
Terms and Conditions
We provide this agreement in English and will communicate to you in English going forward. Throughout this agreement, we use certain capitalised terms that have specific meanings as detailed in the table below. Revolut cannot guarantee that your stop order or limit order will be executed, even if the share or fractional share price reaches the limit price or stop price you have set. This agreement contains important information that you need to read carefully.
If you have any questions or doubts about any of the content of this agreement, you should seek independent professional advice. Revolut Trading Ltd is a wholly owned subsidiary of Revolut Ltd. You can contact us via the Revolut App chat function. We're all busy people, so to help you understand the most important points in this agreement, we've put together a summary below.
Please note that the summary doesn't remove the need for you to read the remainder of this agreement, and you should make sure that you do so before you open your Account and submit any Orders. This section of the agreement provides information about your Orders and how they will be treated, the services we will provide to you under this agreement, and how we will treat you for regulatory purposes.
We have to categorise you as a certain type of client. We will treat you as a Retail Client unless you have agreed and we have otherwise informed you in writing. It is open to you to request a different client categorisation to the one which we have given you, but we may, in our sole discretion, reject any such request. The services that we will provide you under this agreement are non-advised, meaning that we will not provide you with any advice as to the merits of a particular Instrument or whether any particular Instrument is appropriate for you.
How your Orders are executed is described in this document, and Revolut will only transmit the orders to a Third Party Broker for execution. We will not provide you with any investment, legal, tax or other form of advice; nor can you request any such advice from us, and any decision to acquire or sell an Instrument is solely yours and we are not responsible for such decisions.
An Order is an instruction from you to either buy or sell a particular Instrument which is made via the Revolut App. We have sole discretion over the types of Orders that we make available to you via the Revolut App. Please note that we do not permit you to go short on a particular Instrument. In order to sell an Instrument, you must have previously acquired that Instrument by submitting an Order to buy that Instrument via the Revolut App which was subsequently executed.
Orders may only be submitted via the Revolut App. We will provide you with the indicative prices of the relevant Instruments that you can buy or sell via the Revolut App, but we do not create these prices and we have no control over them. Due to the inherent nature of a moving market, indicative prices can change, sometimes rapidly and significantly, and it may not be possible to execute at the price shown on the Revolut App before you place your Order. You must act on your own behalf and for your own account in relation to all Orders submitted by you, meaning you are the person that will buy or sell the Instrument.
You cannot submit Orders on behalf of others. It's important to note that by submitting an Order, you are entering into a binding commitment to buy or sell an Instrument. You may only cancel or withdraw an Order before that Order is executed within the limitations of the Third Party Broker, and only with our prior consent, which we will not unreasonably withhold.
Because of this, you should double-check to make sure that, before you have submitted any Order you:. Other restrictions may apply to submitting Orders dependent upon regulatory requirements and market conditions. These may include, but are not limited to situations such as:.
Your Orders may relate only to the Instruments that are available via the Revolut App from time to time. We have sole discretion as to the Instruments that we make available to you via the Revolut App. We, and the Third Party Broker, have the final say on whether or not an Order submitted by you is accepted. If we or the Third Party Broker reject an Order, we will not have to explain to you why that Order has been rejected, but we will notify you if any of your Orders are rejected. An example of when an Order might be rejected is when you do not have sufficient funds in your Revolut Electronic Money Account to pay for that Order, or if the acceptance of an Order would breach a limit that we have placed on your Account.
The Third Party Broker also maintains various risk limits and tolerances that govern whether or not it will accept an Order, and we have no control over such procedures. There may also be circumstances in which we are required by a third-party, such as by the underlying market on which an Instrument is listed or by a regulatory authority, to cancel your Orders. You should also be aware that there may also be instances where we or the Third Party Broker are required by a third-party to cancel your Positions. In such circumstances, we will seek to notify you of any such request and you agree that you will use all reasonable endeavours to cooperate with us and, to the extent necessary, the Third Party Broker to comply with any such request relating to the cancellation of your Positions, including in relation to the taking of all actions that may be communicated to you by us to comply with any request from a third-party in relation to your Positions.
If we accept your Order, we will transmit it onto the Third Party Broker for execution or onward transmission for execution.
It is important for you to note that we are not responsible for the execution of the Orders that you submit via the Revolut App but we have a duty to act in your best interest when we transmit your Order to another entity such as the Third Party Broker for execution or onward transmission. We are responsible for ensuring that any entity which we have selected for execution or onward transmission delivers the best possible result to our clients on a consistent basis.
Please refer to our Order Handling and Best Interests Policy for more information for how we have selected the Third Party Broker and why we consider that they enable us to act in your best interest when transmitting Orders to them. The Third Party Broker will be subject to certain rules and regulations relating to how it executes your Orders.
You can find further information on how the Third Party Broker will execute your Orders in the Third Party Broker's agreements which we sent to you by email when you signed up for an Account. You should be aware that the Third Party Broker may execute your Orders outside of a regulated market, multilateral trading facility or organised trading facility, and by accepting this agreement, you expressly consent to the execution of your Orders in such circumstances. Whilst we and the Third Party Broker will do our best to execute your Order as quickly as we can, the prices of Instruments can move quickly.
This means that the price at which you submitted your Order may not be the price at which your Order is in fact executed. In some circumstances, your Order may be executed at a "better" price and in other circumstances it may be executed at a "worse" price than the price quoted to you via the Revolut App. If your order is executed at a "worse" price than the price of the Instrument at the time you submitted the Order, we have no liability to you to provide you with the difference in those prices.
When you submit an Order to buy an Instrument, an estimated amount you are required to pay in relation to that Order is blocked in your Revolut Electronic Money Account immediately on submission of the Order; the exact amount is then payable when the Order is executed. It is important for you to note that, in order to open an Account, you must also have a Revolut Electronic Money Account, as the funds deposited in your Revolut Electronic Money Account will be used to pay for your Orders.
You acknowledge and agree that we have the right to procure a deduction of value from your Revolut Electronic Money Account so as to effect payment for your Orders if we need to.
Trading Conditions - Orbex
This may include any additional amounts required to settle trades in the event an order is ultimately executed at a higher price than initially quoted i. In the event that you sell a particular Instrument and there are proceeds due to you from that sale, we shall procure that your Revolut Electronic Money Account is credited with the value of those profits.
However, you should be aware that, whilst your profits may be credited to your Revolut Electronic Money Account, you will not be able to withdraw those proceeds until such time the transaction arising as a result of your Order to sell the relevant Instruments has settled. In most underlying markets, settlement of the Instruments available via the Revolut App typically occurs within two trading days.