First Protected Positions Terms & Conditions
1. The present Terms and Conditions (the “Terms”) govern all actions in respect of the First Protected Positions promotion (the “Promo”), whereby eligible clients of Ontega (hereinafter referred to as “we”, “us” or “our”) will be granted with full protection on their first protected position(s) as per the below terms.
2. Should you (the “Client”), accept and use and/or using the Promo, you indisputably acknowledge that you have read, understood and intend to be legally bound by these Terms found on our website.
3. The Promo is a tool and not a right available only to clients, who fulfils the following criteria:
(a) register an account and are eligible to become our clients;
(b) they do not have an already existing trading account with us; and
(c) fund their account with minimum deposit of US$200 (US Dollar Two Hundred).
As a tool, we reserve the right under certain circumstances described below, to cancel the Promo and/or to terminate the trading account. In such case, we reserve the right to net the profits and losses from the first protected position(s) accordingly.
4. For those clients who meet the criteria of these Terms, we will be granting to them the following number of first protected position(s). Please note that the number of protected positions will depend on the amount of the first deposit the client first funded his trading account as per the table below:
| First Deposit Amount USD* | Number of protected positions |
|---|---|
| 2,000.00 or above | 15 |
| 1,000.00 – 1,999.00 | 10 |
| 500.00 – 999.00 | 8 |
| 0 – 499.00 | 5 |
* NOTE: the currency will depend on the trading account currency.
5. Once the client’s trading account registration is confirmed and account is approved, the Promo will be added automatically to the client’s trading account.
6. Any funds lost from the first protected position(s) will be credited back to the trading account, whereas any profits generated may be withdrawn by the client, as long as there are no open positions.
7. The maximum leverage available for the Promo is 1:20 accordingly.
8. The below minimum and maximum base currency unit amount will apply while using the Promo, for each symbol accordingly:
| Symbols | Min unit amount | Max unit amount |
|---|---|---|
| FX Pairs | 1000 | 2500 |
| GOLD | 0.5 | 1.2 |
| SILVER | 70 | 150 |
| CL Future Contracts (Commodity) | 5 | 50 |
| NSDQ Future Contracts (Index) | 0.1 | 0.5 |
| Aurora Cannabis Inc (Stock) | 10 | 100 |
Please note that we reserve the right to revise the position amount, where an event of a larger exposure than the one stated in this clause above.
9. The first protected position(s) must be closed at the start of the third (3) day with a maximum duration of seventy-two (72) hours from their time of opening. In the event of the client failing to do so, the relevant position(s) will be automatically closed by the system in the market prices.
10. The Promo will only be valid for fourteen (14) days since the date of the first protected position opened by the client.
11. A Rollover Fee is applied on any protected position left open overnight, and the client undertakes to cover all Rollover Fees. Further details of the Rollover Fee can be found on the website.
12. Should the client In the case of any misappropriates the FPP in any way such as using it as any form of hedging, we reserve the right to cancel the FPP and/or to revoke the FPP Tool and/or terminate the trading account of the client without any further notice. the same will apply in case where the client uses the FPP in bad faith and/or has used its trading account to take advantage of the FPP Tool.
13. We reserve the right to amend or withdraw or restrict any of the FPP Terms at any time without notice.
14. All the FPP Terms herein are essential and binding.