Market risk and online trading
Forex product trading involves considerable risk and is not suitable for every investor. Please read this Risk Disclosure Statement and all content of this Agreement in detail. Although online transactions bring a lot of convenience and efficiency to customers, it may increase the risk of foreign exchange transactions themselves. Therefore, the client must be prepared to bear all relevant risks before trading.
Only suitable for professional investors
Forex product trading is only suitable for professionals with professional institutions or investment experience, and their financial position can withstand losses that may far exceed the value of margin or deposit.
Trading facilities and limits of liability
The business of foreign exchange products does not need to be openly bid. While many venue transactions offer quotes and actual prices for computer-based systems, these two prices may be biased due to market illiquidity. Most electronic trading facilities are supported by computer-based systems for order placement, execution, and matching. Such systems are susceptible to temporary system failures. The ability of a customer to recover certain losses may be limited by the varying levels of liability set by the system provider, bank and/or other financial institution or clearing house.
Exchange over-the-counter
In the Forex market, JoJo Markets can be allowed to trade off-exchange. JoJo Markets reserves the right to refuse to accept or guarantee any order. For these reasons, it may be difficult or impossible to close a position, assess value, determine a fair price, or assess risk. In addition, over-the-counter trading may be subject to less regulation or be subject to different regulatory systems. Customers should be aware of the applicable regulations and associated risks before starting a transaction.
Leverage effect
Forex product trading is highly risky. Such transactions are leveraged transactions, which means that through leverage, customers can participate in extremely high trading contracts with very low initial margin. Even if there are any changes in the market, it will have a great impact on the customer's investment. Although this may have a good impact on the customer, it may be bad. The customer may be subject to the initial deposit of the JoJo Markets and any additional funds lost by the customer in order to keep the position unsettled. If the market changes are unfavorable to the customer or the margin level is increased, the customer has the opportunity to fail to increase the margin in time to maintain the customer's position and be forced to liquidate in the event of a loss. The customer will be solely responsible for the resulting losses.
Stop limit order
Orders whose losses are limited to a specific amount (such as the Stop Loss Limit order) may not be effective or unenforceable. If the order is a stop limit order, JoJo Markets cannot guarantee that the order can be executed at a limit price or successfully executed. In addition, some strategies that use position consolidation, such as spread or parity, may have the same risk as a single “long position” or “short position”.
Electronic trading
Transactions through electronic trading systems may cause delays, failures, or interruptions in transmissions when transmitting and receiving customer instructions or other materials. System failures are more likely to result in customers' orders being difficult or impossible to follow, and even executed in error. Customers are exposed to the risks associated with electronic trading systems.
Suspend or limit the relationship between transactions and pricing
Market conditions and operating regulations in certain markets (including suspension of trading or suspension of trading of foreign exchange products) may also result in difficulties or impossibility of executing orders such as closing or closing positions, thereby increasing customer losses. In addition, the normal price relationship between related assets and foreign exchange products may not exist. It is also difficult or impossible to assess or determine “fair” prices due to the lack of reference prices for related assets.
Transactions in other jurisdictions
Transactions in other jurisdictional markets, including those that are formally connected to the local market, may expose customers to additional risks. Under the market regulations, customers may be subject to different or lower security. Before starting a transaction, the client should ask about any rules relating to the client's transaction and understand the protections available in their location and in other jurisdictions.
Stored cash and belongings
The Client must acknowledge and understand that the risk of placing money or other property with JoJo Markets, its representatives or its licensors. Clients must be familiar with the various types of money and property that customers have for depositing in local or foreign transactions, especially when the hosting company is in financial or bankruptcy. The extent to which customers can recover managed funds and property is subject to local regulations and may take a long time.
Counterparty's reputation
JoJo Markets does not guarantee the creditworthiness of the client's counterparty. JoJo Markets will only try to trade with well-reputed and reliable institutions and clearing houses. In addition, the client must understand and understand that it is possible that due to the liquidity of the transaction, the customer cannot timely close the position of the losing position and bring considerable losses to the customer.
Margin and margin call
JoJo Markets's margin policy may require additional funds from customers to maintain their margins to the specified level and requirements of JoJo Markets. The Client is obliged to meet such margin requirements from time to time and in a timely manner, otherwise his position may be automatically closed and the corresponding losses will be incurred. JoJo Markets reserves the right to refuse to accept orders or provide market hedging.
Exchange rate risk
JoJo Markets's trading account is in US dollars or other currencies that JoJo Markets agrees from time to time. In the event that a customer deposits or withdraws money in a currency other than US dollars, the customer must bear any gains or losses resulting from changes in the exchange rate. The Client also agrees that JoJo Markets may convert any currency in the form and at the time of its sole discretion in order to carry out any action or right it may take under this Agreement.
Relevant legislation
The Client shall fully comply with the relevant local laws and agree to pay any relevant local taxes, duties and other amounts due to transactions made using the JoJo Markets platform. Client's trading on the JoJo Markets platform will be deemed to be a statement to JoJo Markets and to ensure compliance with local laws and regulations.
Consulting legal and other independent professional advice
The above statement does not disclose all risks related to foreign exchange products and all important matters in their transactions. Before starting a foreign exchange product transaction, the client should have a clear understanding of the nature and risk of the transaction and be aware that the foreign exchange product transaction is not suitable for the general investor. The client must carefully consider whether the foreign exchange product transaction is suitable for the client based on his or her personal investment experience, purpose, financial situation and risk tolerance. JoJo Markets strongly recommends that all clients consult legal and other independent professional advice before opening an account and starting a transaction.
