17. Terms and Interpretation
In this Agreement or any Regulations:
"Advance Payment" shall mean the deposit of funds by the Client to pay for future expenses.
“Ask” shall mean the higher price in a quote. The price the Client may buy at.
“Balance” shall mean the total financial result of all completed transactions and
deposit/withdrawal operations on the trading account.
“Base Currency” shall mean the first currency in the currency pair, against which the Client
buys or sells the quote currency. “Bid” shall mean the lower price in a quote. The price the
Client may sell at.
“Business Day” shall mean a working day from Monday till Friday.
“Client Account” shall mean any account opened by the Client at the Company including
transitory accounts, trading accounts, partner accounts, manager’s accounts, investor’s
accounts and other account types.
“Client’s Authorized Person” shall mean:
- an individual over 18 years of age, citizen and/or tax resident of any country, except for
those countries in which the Company does not offer the given service, authorized to
or receive noncash (bank and/or electronic) transfers on behalf of the Client, for the purpose of
crediting funds to the Client’s account or withdrawing funds from the Client’s account;
- a legal body or entity of another business legal structure, organized under the existing laws
of any country, except for those countries in which the Company does not offer the given
service, authorized to perform or receive a non-cash (bank or/and electronic) transfer on behalf
of the Client for the purpose of crediting funds to the Client’s account or withdrawing funds
from the Client’s account.
“Client’s External Account” shall mean the bank and/or electronic account of the Client or the
Client’s Authorized Person.
“Client Terminal” shall mean the program or third party application which connects with the
Server according to the FIX Protocol. It is used by the Client to obtain information on financial
markets (the extent is determined by the Company) in real-time, to perform technical analysis,
make transactions, place/modify/delete orders, as well as to receive notices from the Company.
These programs can be downloaded on Website free of charge.
“Client Transactions” shall mean instructions and requests by the Client to the Company in
relation to their trading and non-trading operations in 24 Domino Portal and trading platforms.
“Company Account” shall mean the bank or/and electronic account of the Company, and the
Company account in the processing center. “Company News page” shall mean the page on the
Website where news is displayed.
“Complete Transaction” consists of two opposite transactions of the same size in different
directions (open a position and close a position): buy in order to sell or sell in order to buy.
“Contract Specification” shall mean the principal trading terms (spread, lot size, minimum
position volume, initial margin, margin for locked positions etc.) for each instrument displayed
on the Website.
“Credit/Debit Card” shall mean a thin plastic card that contains identification information, with
the help of which the cardholder can pay for purchases and services, as well as withdraw cash
from the account.
“Credit/Debit Cardholder” shall mean the person whose information the card contains (first
name, last name, signature) and who is authorized to maintain the card account.
“Currency Pair” shall mean the object of a transaction, based on the change in value of one
currency against another.
“Electronic Payment System” shall mean a payment system operating with electronic money.
“Equity” shall mean the current composition of the trading account. The formula to calculate
Equity is: Balance + Floating Profit - Floating Loss.
“FIX Protocol” shall mean the Financial Information eXchange (FIX) standard of exchanging
information, developed especially for exchanging information on transactions involving
financial instruments in real-time. This protocol is maintained by the company FIX Protocol,
“Floating Profit/Loss” shall mean non-fixed profit/loss on open positions at current market
“Force Majeure” shall mean lack of conformity of the terms and conditions of the Company
and the terms and conditions of the counterparty, current market situation, possibilities of
software or hardware of the Company or other situations which cannot be foreseen.
“Free Margin” shall mean funds on the trading account which may be used to open a position.
The formula to calculate free margin is: equity minus- necessary margin.
“Fund Deposit” shall mean the deposit of funds transferred by the Client or the Client’s
Authorized person and credited to the Company account for transfer to the Client’s account.
“Fund Deposit Notification” shall mean a notification sent via the Client’s 24 Domino Portal
account on the Website to confirm that the funds were credited to the Client’s account.
“Hedged Margin” shall mean the amount required by the Company to open and maintain
locked positions. The details for each instrument are in the Contract Specifications.
“Identification Information” shall mean, for an individual - the passport/ID information
specified in the Client Registration Form, and for a legal entity - the information from
registration and founding documents specified while registering.
“Inactive Trading Account” shall mean a Client's trading account which has not had an open
position, pending order, or non-trading operation in a 6 months period.
“Indicative Quote” shall mean information about the price of an instrument at which the
Company is not obliged to execute instructions of the Client.
“Initial Margin” shall mean the margin required by the Company to open a position. The details
for each instrument can be found in the Сontract specifications.
“Instruction” shall mean the Client’s instruction to the Company to open/close a position, place,
remove or change the level of the pending order.
“Instrument” shall mean any currency pair, spot metal, contract for difference and other
financial instruments offered by the Company.
“Internal Fund Transfer Request” shall mean an instruction given via the Client’s 24 Domino
Portal account on the Website to withdraw funds from the Client’s account to another account
open within the Company.
“Locked Positions” shall mean long and short positions of the same size opened on a trading
account for the same instrument.
“Long Position” shall mean a Buy position that appreciates in value if market prices increase.
Regarding currency pairs: buying the base currency against the quote currency.
“Lot” shall mean the abstract notion of the number of securities or base currencies in the trading
“Lot size” shall mean the number of securities or base currency in one lot, as defined in the
“Margin Trading” shall mean trading using leverage, where the Client may make transactions
of a certain size, while having significantly less funds on their trading account.
“24 Domino Portal” shall mean the Client's personal page on the Company's website, access to
which is secured by a login and password. This service is provided to the Client by the
Company on the basis of the Client Agreement concluded between the Company and Client.
“24 Domino Portal Account Number” shall mean the unique number assigned to each Client
upon acceptance of this Agreement.
"24 Domino Portal Service" shall mean the service providing a Client with a personal account
on the Company's website, designed for the Client's identification, maintenance of accounts,
records of operations and support.
“Necessary Margin” shall mean the margin required by the Company to maintain open
positions. The details for each instrument are in the contract specifications on the Website. For
example, if the Client opens two buy lots, and three sell lots for the same instrument, then two
buy lots and two sell lots are identified as locked positions, and one buy lot is identified as a
“Non-Trading Operation” shall mean operation involving the deposit of funds, withdrawal
from a Client’s account or transfers of funds between transitory and trading accounts of the
“Open Position” shall mean the result of the first part of a completed transaction. In this case
the Client shall be obliged to:
- make a counter transaction of the same volume;
- maintain equity no lower than the necessary margin level (this level may vary depending on
an account type.
For more information, please refer to the "Trading Terms" in a section “Forex, metals and
CFD” on page of the Company's Website).
“Order Level” shall mean the price indicated in the order.
“Pending order” shall mean the Client’s instruction to the Company to open or close a position
when the price reaches the order’s level.
“Processing Center” shall mean a legal entity or its department that supports the informational
and technological interaction between payment participants.
“Quote” shall mean the information on the current rate for a specific instrument, shown in the
form of the Bid and Ask price.
“Quote Currency” shall mean the second currency in the currency pair which can be bought or
sold by the Client for the base currency.
“Quote Request” shall mean the Client’s order to the Company to obtain a quote. Such a request
shall not constitute an obligation to make a transaction.
“Rate” shall mean the value of the base currency in the terms of the quote currency.
“Screenshot” shall mean a digital image taken by the Client or the Client’s authorized person
using the operating system or software in order to communicate what is displayed on the
“Security” shall mean any share, option, commodity, precious metal, interest rate, bond or
“Server” shall mean all programs and technology used to make and carry out the Client's
instructions, as well as presenting trading information in real-time, with consideration of the
mutual obligations of the Client and Company in correspondence with the relevant Regulation.
“Short Position” shall mean a Sell position that appreciates in value if market prices fall.
Regarding currency pairs: selling the base currency against the quote currency.
“Spike” shall mean an error quote with each of the following characteristics:
- a significant price gap;
- a price rebound in a short time period within a price gap;
- absence of rapid price movement before its appearance;
- absence of important macroeconomic indicators and/or corporate news of significant effect
before its appearance. The Company has the right to delete from the quote database information
about a spike.
“Spread” shall mean the difference between the Ask and Bid prices.
“Storage” (also, “Swap”) shall mean the charge for a position’s rollover overnight.
“Trading Account” shall mean the unique personified register of all completed transactions,
open positions, orders and non-trading operations in the trading platform.
“Trading Platform” shall mean all programs and technology that present quotes in real-time,
allows placement/modification/deletion of orders and calculate all mutual obligations of the
Client and the Company. For the purposes of simplification for this Agreement, a trading
platform consists of a server and client terminal.
“Transaction Day” shall mean a working day, hours of operation of which are specified on the
“Transaction Size” shall mean the lot size multiplied by the number of lots.
"Transitory Account" shall mean a Client's non-trading account which is opened when
registering a 24 Domino Portal account and is an accessory for the Client to carry out deposit
of advance payments.
“Website” shall mean Company’s website at www.24domino.com
“Withdrawal” shall mean the withdrawal of funds from the Client’s account and their
remittance to the Client or the Client’s authorized person’s bank details, as indicated by the
Client in the “Withdrawal Request“.
“Withdrawal Request” shall mean an instruction given via the Client’s 24 Domino Portal
account on the Company website to withdraw funds from the trading account and transfer them
to the Client’s external account or the account of the Client’s authorized person, as specified
in the instruction.
“Written Notification” shall mean an electronic document (including emails, internal mail on
the client terminal etc.) or an announcement on the “Market News” page on the Website. A
written notice is considered to be received by the Client:
- an hour once it has been sent to the Client's email address;
- an hour after the news has been published in the “Market News” page on the Website.