HyperForex

A truly dedicated broker on your side

  • Global Presence

    More than 100 countries.
    Multilingual.

  • Worldwide Offices

    6+ Offices worldwide and
    still growing.

  • 12+ LPs

    12+ Liquidity providers for better
    trading environment

  • 14+ Years

    Experienced in Forex and
    Financial Markets.

ABOUT HYPERFOREX

HyperForex is an international online forex
and commodities broker dedicated to providing retail and institutional
clients with exceptional trading solutions

The core of our mission is to provide the best client experience with cutting edge technology to trade global market.
Clients’ funds are segregated and kept safe by adhering to our client money rule as a regulated broker and we promise to provide the best security.
With our team consists of talented experts, we are dedicated to provide supports to clients for better trading experience and exceptional client service.
Our goal is to offer hyper technology for fast execution time on every lots traded.

  • Our Vision

    HyperForex has clear vision and discernment coupled with integrity, diligence and compassion. These basics are the fundamental elements that drive our approach in broad area we are involved in.

  • Our Team

    We are versatile, multi-faceted corporation with various divisions.
    Our top-notch investment division that is currently in the process of expanding to serve a vast region of the world.

  • Value for money

    One goal of HyperForex is to provide attractive, tight spread for trading.
    There is no commission or ongoing fees. We are aiming at providing absolutely best trading experience.

WHY CHOOSE US?

The Safe, and Easy
to Use Funding Methods
  • A TRANSPARENT BROKER

    We provide transparent trading conditions

    STP trades only.
    Segregated account for client fund.
  • EXCEPTIONAL CLIENT SERVICE

    Team of experienced people
    from various sectors of financial industry.

    Multilingual support
    Dedicated client support 24/5.
  • EXELLENT TRADING CONDITION

    Tight Spreads and high liquidity.

    Flexible leverage up to 1:1000
    Expert Advisors are allowed to trade.
  • SECURITY OF CLIENT FUNDS

    Safety of client funds is our utmost importance.

    Segregated account for client funds for extra safety.
    Client fund is not accessed by company for any purpose.
  • MARKET RESEARCHES AND ANALYTICS

    We offer various tools for trading.

    Economic calendar.
    Market research, news and analysis.
  • LICENSED AND REGULATED BROKER

    Reulated broker. Licensed by Labuan FSA.

    License No.: MB/19/0032
    Registered in St. Vincent and Grenadines. 24777 IBC 2018.
HYPERFOREX Provides Terms
Specially Designed to Meet the Needs of Traders
  • No Commission

    Forex brokers usually promote lowest possible spreads such as 0.1pip, but without stating the commission involved for each trade made. HYPER FOREX do not charge any hidden fees or commission on trades.

  • Tight Spreads

    HYPERFOREX use STP model through interbank processing. We strive to provide competitively low spreads to traders without hidden fees.

  • ast Execution

    Clients’ transactions are processed in milliseconds with lowest possible latency. Our servers are located globally to provide best possible locations to clients from all over the world.

  • STP Model / NDD(No Dealing Desk)

    We are connected to Tier 1 banks as liquidity providers in order to provide you with the best quotes. Client can access interbank liquidity directly.

  • Strategy Manager / Investor

    nvestors can choose desired amount of funds and qualified Strategy Manager to run their trading account. Investment funds are gathered from Investors and revenue will be shared from profits made.

LEGAL DOCUMENTS

We highly recommend our clients to read
legal documentations listed below before registering
with us and start trading.

Our documents are revised time to time.
Existing clients are updated with new documentations upon changes are applied.
If you haven’t received or lost updated documentations provided, please find above documents for further information.

CUSTOMER SUPPORT

The Safe, and Easy to Use Funding Methods

We are doing our best to satisfy our customers.

  • Do you have
    any questions?

    Please search frequently asked questions first.

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    Live chat.

    Get real-time support for all things support.

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    more questions?

    Monday to Friday. 24 hours.

ABOUT US > LEGAL DOCUMENTS

TERMS AND CONDITIONS

Terms of Business

The Terms of Business governs the contractual relationship between us, HYPER GLOBAL TRADE PTE. LTD. and you, the client (including but not limited to the consequences of events of default). Hyper Global Trade Pte. Ltd(hereinafter referred to as the “Company”), is incorporated under the laws of Malaysia, regulated by Labuan Financial Services Authority, with Money Broking License No. MB/19/0032, having its registered office at Office 3, Jamie Business Centre ll, 2nd Floor, Lot 6, Jalan Bunga Dahlia, 87007 F. T. Labuan, Malaysia.

The Terms of Business sets out the basis on which transactions will take place and the obligations of both HYPER GLOBAL TRADE. PTE. LTD. and you when accessing and trading on the Trading Platforms. However, entering into the Terms of Business does not itself constitute a trade or in any way oblige you to enter into future transactions. This is always your decision. You must confirm via the Website that you accept the terms of the business before you can enter into transactions with us.

Client Agreement

This is a legal contract between Hyper Global Trade Pte. Ltd. And the party/parties executing this document. The privacy policy statement, risk disclosure, and this terms and conditions govern Hyper Global Trade Pte. Ltd.’s dealings with clients in the products, being margin FX contracts and contract for difference(CFDs). These dealings also include financial services and the transactions conducted between Hyper Global Trade Pte. Ltd. and it’s clients. This document sets out the respective rights and obligations of both parties in connection with the service.

By electronically submitting application form through the registration page on our website, clients confirm that they accept the terms and conditions of the agreements. When the client’s account is opened, the client is bound by the agreements in all their dealings with Hyper Global Trade Pte. Ltd. contracts that arise out of the transactions conducted between Hyper Global Trade Pte. Ltd. and its clients are legally binding and enforceable under this agreement.

Clients agree that these documents may be amended, changed, and revised by Hyper Global Trade Pte. Ltd. at any time and updated agreement can be located on the website. Clients with old legal documents will be notified by email or phone, and the updated agreement will be sent.

Introduction

These terms of business, together with the schedules and accompanying documents, as amended from time to time (“terms of business”) apply to retail and wholesale clients of HYPER GLOBAL TRADE. PTE. LTD. These Terms of Business set out the terms of the contract between you and us. These Terms of Business are legally binding and shall take effect and be deemed accepted when we receive your executed signature page to these Terms of Business. We will deal with you on an execution only basis at all times. Please note that we shall not provide you with any advice on the merits of you entering into these Terms of Business or any Transaction. We shall not provide you with any tax advice on the same. You may wish to seek independent advice before entering into these Terms of Business and/or any Transaction. Clients are asked to confirm their acceptance of these terms and conditions by checking the agreement checkbox of these Terms of Business online enclosed.

1. General Information

In our dealings with you, we will act as principal and not as agent on your behalf. Accordingly, we will be the counterparty to all of your trades. Unless we agree otherwise in writing, you will also deal with us as principal, and not as an agent or representative of another person. If you act on behalf of a principal, whether or not you identify that principal to us, we will not accept that principal as a client, unless we agree that such person can act on your behalf. We will then be entitled to rely on any instructions given to us by the agent in relation to your Account. But, from time to time, we may require confirmation that the agent has authority to act on your behalf.

2. Language of Communication

You may communicate with us in English. All standard documents of HYPER GLOBAL TRADE. PTE. LTD. will be available in English. If a document is translated into another language this will be for information purposes only and the English version will prevail.

3. Commencement

These Terms of Business supersede any previous agreement between us on the same subject matter and takes effect when you signify your acceptance of these Terms of website or by returning a signed hardcopy of the signature page of these Terms of Business. By completing and signing the signature page of these Terms of Business you confirm that you have read, understood and agree to be bound by these Terms of Business with us.

4. Duties and Responsibilities

We assume no greater responsibility or fiduciary duty than that imposed by the Applicable Regulations or the express terms of these Terms of Business.

5. Terms of Business and the Schedules

The clauses contained in these Terms of Business and its Schedules together constitute the Terms of Business. We may from time to time send to you further schedules with respect to a specific Market or classes of Investments which will also form part of the Terms of Business.

6. Charges amd Payments

You will pay our charges as agreed with you from time to time or we may deduct such charges from any funds held by us on your behalf.

7. Currency Indemnity

If we receive or recover any amount in respect of an obligation of yours in a Currency other than that in which such amount was payable, whether pursuant to a judgment of any court or otherwise, you shall indemnify us and hold us harmless from and against any cost (including costs of conversion) and loss suffered by us as a result of receiving such amount in a Currency other than the Currency in which it was due.

8. If you direct HYPER GLOBAL TRADE. PTE. LTD. to enter into any Currency Transaction

Any profit or loss arising as a result of a fluctuation in the exchange rate affecting such Currency will be entirely for your account and risk; HYPER GLOBAL TRADE. PTE. LTD. is authorized to convert funds in your Account for Margin into and from such foreign currency at a rate of exchange determined by HYPER GLOBAL TRADE. PTE. LTD. on the basis of the then prevailing money market rates. In such circumstances, HYPER GLOBAL TRADE. PTE. LTD. will not be liable to you for any loss suffered.

9. Legal

Regulated by the Labuan Financial Services Authority (FSA) of Malaysia, License No. MB/19/0032. E-mail:, Tell: +64-9-889-8362

By you as a result of such action (although, HYPER GLOBAL TRADE. PTE. LTD. will use reasonable endeavors to only convert such funds as may prudently be required to cover the position in respect of the relevant transaction).

10. Payments and Deliveries Net

Unless we give you written notice to the contrary, all payments and deliveries between us shall be made on a net basis and we shall not be obliged to deliver or make payment to you or both (as the case may be) unless and until we have received from you the appropriate documents or cleared funds.

11. Remuneration and Sharing Charges

We may receive remuneration from, or share charges with, an Affiliate or other third parties in connection with Transactions carried out on your behalf.

12. Taxes

You are responsible for all taxes that may arise in relation to a transaction, whether under current or changed law or practice. We shall have no responsibility for any of your tax liabilities, or for providing information or advice in respect of such liabilities and shall not be responsible for notifying you of a change in tax law or practice. In the event that we become liable to pay any tax on your behalf arising from or incidental to Transactions executed by you with us you shall reimburse us on demand in full for the amount of such tax paid by us.

13. Our Relationship with You Material interests

Your attention is drawn to the fact that when we deal with you or for you, we or an Affiliate or some other person connected with us may have an interest, relationship or arrangement that is material. Without limiting the nature of such interests, examples include where we or an Affiliate could be:

  1. (a) dealing in the investment, a related investment or an asset underlying the investment, as principal for our (or its) own account or that of someone else. This could include selling to you or buying from you and also dealing with or using the services of an intermediate broker or other agent who may be an Affiliate;
  2. (b) matching (e.g. by way of a cross) your Transaction with that of another customer by acting on his behalf as well as yours;
  3. (c) buying from you and selling immediately to another customer, or vice versa;
  4. (d) holding a position (including a short position) in the Investment concerned, a related Investment or asset underlying the Investment;
  5. (e) quoting prices to the market in the Investment, a related Investment or asset underlying the Investment;
  6. (f) advising and providing other services to Affiliates or other customers who may have interests in Investments or underlying assets which conflict with your own. You accept that we and our Affiliates may have interests which conflict with your interests and may owe duties which conflict with duties which would otherwise be owed to you, and consent to our acting in any manner which we consider appropriate in such cases subject to Applicable Regulations.

14. No Liability to Disclose

We will comply with Applicable Regulations binding on us, but we shall be under no further duty to disclose any interest to you, including any benefit, profit, commission or other remuneration made or received by reason of any Transaction or any matching transaction.

15. Information Barriers

We maintain arrangements which restrict access by our employees to information relating to areas of our business (and that of Affiliates) with which, and the affairs of clients with whom, they are not directly concerned. Accordingly, we shall not be required to have regard to or disclose to you or make use of any information which belongs to or is confidential to another client or to us or any Affiliate, and we may be unable to advise or deal with you in relation to particular investments without disclosing the reason for this.

16. Market Abuse

By entering into any Transaction you represent and warrant that you will act in accordance with the Act and any Applicable Regulations.

17. Account Opening

An Account must be opened prior to entering into any Transaction with HYPER GLOBAL TRADE. PTE. LTD. No Orders can be placed until an Account has been opened and cleared funds received. Without prejudice to the foregoing, if HYPER GLOBAL TRADE. PTE. LTD. permits you to place an Order notwithstanding that an Account has not been opened, or cleared funds received, this shall not limit your liability to HYPER GLOBAL TRADE. PTE. LTD. pursuant to these Terms of Business in respect of the Order placed. HYPER GLOBAL TRADE. PTE. LTD. may, at its absolute discretion, refuse to accept you as a client for whatever reason but will notify you of any such refusal, without giving any reasons, promptly following your application. To assess your creditworthiness, manage credit risk and to prevent fraud (or other criminal activity) you acknowledge and agree that we may:

  1. (a)make periodic searches and inquiries about you and any Related Party at credit reference agencies, and your employers, if applicable;
  2. (b)disclose information to organizations involved in fraud prevention; and
  3. (c) obtain information from and disclose information to other broker-dealers or investment managers which deal in or manage investments for you concerning any payment or security default or concerning any investment which is related to or connected with Margined Transactions which you seek to open with us.

Any limits for your Account (including any credit limits) will be set and varied from time to time with regard to your credit status and, where applicable, the amount of funds deposited by you with us which may, in its sole discretion apply a limit to:

  1. (a)the size of any Transaction or series of Transactions that you may enter into; and
  2. (b) the amount of any loss or liability to which you may be exposed. Account limits do not limit or represent your liability for losses to HYPER GLOBAL TRADE. PTE. LTD., and the funds you may have from time to time on deposit with us as Margin or otherwise do not represent any limit upon your financial liability to us.

Your Cash Balance will be credited from time to time with the amount of each payment of Margin and any other payment received by us from you pursuant to these Terms of Business; and will be debited by the amount of each payment made by us to you at your request, and realized losses payable.

You hereby indemnify and hold us harmless against any costs or expenses (including all legal costs) which we may incur, either before or after the commencement of any legal action, to recover the requisite payment as a result of your failure to make payment within the stipulated period. We may convert money standing to your credit on your Account or paid by you to us or due to be paid by us from one currency to another at prevailing market rates available to us (after accounting for commissions or charges).

18. Payment

We accept deposits from you by an approved credit card or wire transfer. No cash will be accepted. Payments may be denominated in United State Dollar (USD) or any other Currency agreed in advance with us. Withdrawals from your account can only be processed by wire transfer unless otherwise agreed to by us in writing.

19. Payment Terms

You agree to make payments due to us under these Terms of Business in accordance with the following terms:

  1. (a)all electronic or telegraphic transfer or other bank fees in respect of payment by you shall be your sole responsibility;
  2. (b) if any payment is not received by us on the due date for payment then, without limitation of any other rights which we may have, we will be entitled to charge interest on the overdue amount (both before and after judgment) at the Interest Rate from the date payment was due until the actual date of payment;
  3. (c) if you make a payment by an approved credit card and then request that payment to be returned to the approved credit card, please note that we reserve the right to charge an administration fee (details of which are available in the Product Disclosure Statement);
  4. (d) you shall pay to us on demand in a full indemnity basis all costs, charges and expenses incurred by us in relation to any overdue payment (including any referral fees);
  5. (e) any payment made to us will only be deemed to have been received when we receive cleared funds; and
  6. (f) it is your responsibility to ensure that payments made to us are correctly designated in all respects.

20. Payment Withheld

If the statement of your Account shows a credit balance, you may request us to send you a check, or effect payment by alternative means in respect of such amount. However, we may at our discretion elect to withhold (or if applicable, deduct) any payment requested (in whole or in part) due to you if:

  1. (a) open Margined Transactions on the Account show notional losses;
  2. (b) we reasonably consider that funds may be required to meet any current or future margin requirement on open Margined Transactions due to underlying market conditions;
  3. (c) you have any contingent liability to us or to any of our affiliates in respect of any other account you have opened with them; and/or
  4. (d) we reasonably determine that there is an unresolved dispute between us in connection with these Terms of Business or any related contract.

Appropriateness Before accepting any Order, you must record your investment knowledge and experience in the Account Opening Forms. On the basis of this information and in accordance with the Applicable Rules we will assess whether opening an Account is appropriate for you. We will not be able to take your borrowings or leverage into account in assessing your investment risk appetite or capacity. You should be aware that leverage may dramatically increase the risk of investments, particularly where large positions can be taken in reliance on a small amount of initial Margin, as is common when dealing in Margined Transactions. Where you are classified as a Wholesale Client we will make certain assumptions about the appropriateness of the service provided, and we are entitled to assume that you have the requisite knowledge and experience in the relevant investment field. If you do not consider this to be the case, you must make us aware of this prior to the provision of the service and provide us with any available information as to the level of your knowledge and experience. It is your responsibility to inform us in writing of any information which might reasonably indicate that this assessment should be changed.

21. Representations and Undertakings

You represent and warrant to us on the date these Terms of Business come into effect and as of the date of each Transaction that:

  1. (a) [For individuals] you are of sound mind, legal age and legal competence;
  2. (b) regardless of any subsequent determination to the contrary, you are suitable to trade Margined Transactions and that you are aware of the risks involved with such transactions;
  3. (c) you have all necessary authority, powers, consents, licenses and authorizations and have taken all necessary action to enable you lawfully to enter into and perform these Terms of Business and such Transaction and to grant the security interests and powers referred to in these Terms of Business;
  4. (d) any change to the details supplied on your Account Opening Forms must be immediately notified to us in writing;
  5. (e) the persons entering into these Terms of Business and each Transaction on your behalf have been duly authorized to do so;
  6. (f) these Terms of Business, each Transaction and the obligations created under them both are binding upon you and enforceable against you in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of any regulation, order, charge or agreement by which you are bound;
  7. (g) unless you have informed us otherwise you act as principal and sole beneficial owner (but not as trustee) in entering into these Terms of Business and each Transaction;
  8. (h) any information which you provide or have provided to us in respect of your financial position or other matters is accurate and not misleading in any material respect;
  9. (i) you are willing and financially able to sustain a total loss of funds resulting from Transactions;
  10. (j) you have consistent and uninterrupted access to internet service and the email address provided on your Account Opening Forms;
  11. (k) except as otherwise agreed by us, you are the sole beneficial owner of all Margin you transfer under these Terms of Business, free and clear of any security interest whatsoever other than a lien routinely imposed on all Securities in a clearing system in which such Securities may be held; and
  12. (l) if you are not a resident in Honduras, you are solely responsible for ascertaining whether any Transaction entered into under these Terms of Business is lawful under applicable laws of the jurisdiction of your residence.

22.1 Events of Default If at any time

  1. (a) you fail to comply fully and immediately with any obligation to make any payment when due under these Terms of Business or to make or take delivery of any property when due under these Terms of Business;
  2. (b) we have reasonable grounds to believe that you are in breach of any material provision of these Terms of Business;
  3. (c) we consider it necessary or desirable for our own protection or any action is taken or event occurs which we consider might have a material adverse effect upon your ability to perform any of your obligations under these Terms of Business;
  4. (d) we consider it necessary or desirable to prevent what is considered to be or might be a violation of any laws, Applicable Regulations, the Act, or good standard of market practice;
  5. (e) you die, become of unsound mind, are unable to pay your debts as they fall due or are bankrupt or insolvent, as defined under any bankruptcy or insolvency law applicable to you, or any indebtedness of yours is not paid on the due date therefore or becomes capable at any time of being declared due and payable under agreements or instruments evidencing such indebtedness before it would otherwise have been due and payable, or any suit, action or other proceedings relating to these terms of business. “proceedings” are commenced for any execution, any attachment or garnishment, or distress against, or an encumbrancer takes possession of, the whole or any part of your property, undertaking or assets (tangible and intangible)
  6. (f) you commence a voluntary case or other procedure seeking or proposing liquidation, reorganization, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including any corporate or other law with potential application to you, if insolvent), or seeking the appointment of a trustee, receiver, liquidator, conservator, administrator, insolvency office or other similar official (each an insolvency officer) of you or any substantial part of your assets, or if you take any corporate action to authorize any of the foregoing;
  7. (g) an involuntary case or other procedure is commenced against you seeking or proposing liquidation, reorganization, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including any corporate or other law with potential application to you, if insolvent) or seeking the appointment of an Insolvency Officer of you or any substantial part of your assets;
  8. (h) You or any Credit Support Provider (or any Insolvency Officer acting on behalf of either of you) disaffirm, disclaim or repudiate any obligation under these Terms of Business or any guarantee, hypothecation agreement, margin or security agreement or document, or any other document containing an obligation of a third party, or of you, in favor of us supporting any of your obligations under these Terms of Business (individually a “credit support document”):
  9. (i) any representation or warranty made or given or deemed made or given by you under these Terms of Business or any Credit Support Document proves to have been untrue, false or misleading in any material respect as at the time it was made or given or deemed made or given;
  10. (j) any Credit Support Provider fails to comply with or perform any agreement or obligation to be complied with or performed by you or it in accordance with the applicable Credit Support Document;
    1. (i) any Credit Support Document expires or ceases to be in full force and effect prior to the satisfaction of all your obligations under these Terms of Business, unless otherwise agreed in writing by us;
    2. (ii) any representation or warranty made or given or deemed made or given by any Credit Support Provider pursuant to any Credit Support Document proves to have been false or misleading in any material respect as at the time it was made or given or deemed made or given;
    3. (iii) any event referred to in paragraphs (d) to (g) or (j) of sub-clause 1 of this clause occurs in respect of any Credit Support Provider; or
    4. (iv) you are dissolved, or, if your capacity or existence is dependent upon a record in a formal register, the registration is removed or ends, or any procedures are commenced seeking or proposing your dissolution, removal from such a register, or the ending of such registration;
  11. (k) where you or your Credit Support Provider is a partnership, any of the events referred to in paragraphs (d) to (g) or (j) occurs in respect of one or more of your or its partners;
  12. (l) an Event of Default (however described) occurs in relation to you under any other agreement between us; then we may exercise our rights under clause 22.2 of these Terms of Business.

22.2

Upon occurrence of an Event of Default we may by notice specify a date for the termination of any outstanding Transactions entered into between us except that the occurrence of an Event of Default under subparagraphs (d) to (g) or (j) of clause 22.1 shall result in the automatic termination of any outstanding Transaction. Neither of us shall be obliged to make any further payments or deliveries under any Transactions which would but for this clause, have fallen due for performance on or after the termination of any outstanding Transactions. We shall be entitled without prior notice to you:

  1. (a) instead of returning to you investments equivalent to those credited to your Account, to pay to you the fair Market value of such investments at the time we exercise such right;
  2. (b) to sell your investments in our possession or in the possession of any nominee or third party appointed under or pursuant to these Terms of Business, in each case as we may in our absolute discretion select or and upon such terms as we may in our absolute discretion think fit (without being responsible for any loss or diminution in price) in order to realize funds sufficient to cover any amount due by you hereunder;
  3. (c) to close out, replace or reverse any Transaction, buy, sell, borrow or lend or enter into any other Transaction or take, or refrain from taking, such other action at such time or times and in such manner as, at our sole discretion, we consider necessary or appropriate to cover, reduce or eliminate our loss or liability under or in respect of any of your contracts, positions or commitments;
  4. (d) to realize in accordance with this clause or to sub-pledge any securities or other assets of yours held by HYPER GLOBAL TRADE. PTE. LTD.;
  5. (e) to call any guarantee or indemnity provided by or on behalf of you;
  6. (f) to exercise our rights of set-off pursuant to this clause;
  7. (g) to close any and all of your Accounts; and/or
  8. (h) to treat any or all Transactions then outstanding as having been repudiated by you, in which event our obligations under such Transaction or Transactions shall thereupon be canceled and terminated. We shall not lose any of our rights under this clause by reason of any delay on our part in the exercise thereof, but in no circumstance shall we be under any obligation under these clauses to exercise any such right or, if we do exercise any such right, to do so at a time or in a manner beneficial to you. We may at our absolute discretion close out Transactions either on a single or collective basis.

Where we exercise our right under this clause to close out a transaction, the closing out shall be effected by us in whole or in part at such time or times and at such price or prices as determined by us at our reasonable discretion. The amounts payable under the Transaction being closed out shall then be immediately due. Where we exercise our right under this clause to realize any Investments or other assets of yours held by us, we shall be entitled to sell those Investments or assets at the market price (as determined by us in our reasonable discretion) at the time the sale takes place. We shall have the right to choose the time, place and method of such sale at our discretion. Any costs of sale shall be borne by you.

If any Event of Default specified in this clause occurs, we may by notice in writing to you require settlement of all open Transactions to take place in accordance with this clause on the settlement date which for this purpose shall be the date on which notice is given.

Where settlements of all Transactions are to be made under this clause no further payments shall be made in respect of any open Transaction after the settlement date and each open Transaction shall immediately be settled by your payment of the settlement amount.

You shall give us notice of an event specified in clause 22.1 as soon as you become aware of its occurrence.

We shall be entitled, following any of the events specified in clause 22.1 to set-off

  1. (i) any obligation to make payment to you against any obligation owed by you to make payment to any Affiliate and any obligation of yours to make payment to us against any obligation of any Affiliate to make payment to you.

Any obligations shall be satisfied by the net settlement (whether by payment, set-off or otherwise) of the amounts due between us with respect to all the outstanding terminated Transactions. With respect to each outstanding terminated Transaction we shall determine its total cost, loss or gain (including, if appropriate, any loss of bargain, cost of funding or other loss or gain as a result of the termination) and any net amount for all the outstanding terminated Transactions determined by us in accordance with the foregoing due either from you to us or from us to you shall be immediately payable upon its calculation. We shall not be obliged to make any payment or delivery scheduled to be made by us under a Transaction or these Terms of Business for as long as an Event of Default has occurred and is continuing.

23. Termination

You may terminate these Terms of Business immediately by giving written notice to us. We may terminate these Terms of Business with you by giving you ten (10) Business Days notice, except that we may terminate these Terms of Business immediately if you fail to observe or perform any provision of these Terms of Business, or upon the occurrence of any Event of Default, or if you have no open Transactions in your Account at the time when the notice of termination is sent. At any time after the termination of these Terms of Business, we may, without notice, close out any of your open Transactions at the end of day Closing Price. Termination shall be without prejudice to accrued rights and remedies and the existence and enforceability of any open Transaction, which shall continue until close in accordance with these Terms of Business, unless otherwise specified. Upon terminating these Terms of Business, all amounts payable by you to us will become immediately due and payable including (but without limitation):

  1. (a) all outstanding fees, charges and commissions;
  2. (b) any dealing expenses incurred by terminating these Terms of Business; and
  3. (c) any losses and expenses realized in closing out any Transactions or settling or concluding outstanding obligations incurred by us on your behalf.

24. Arbitrage

Arbitrage Internet, connectivity delays, and price feed errors sometimes create a situation where the price displayed on the HYPER GLOBAL TRADE. PTE. LTD. does not accurately reflect the market rates.

HYPER GLOBAL TRADE. PTE. LTD. DOES NOT PERMIT THE PRACTICE OF ARBITRAGE ON THE HYPER GLOBAL TRADE. PTE. LTD. ONLINE FACILITY. TRANSACTIONS THAT RELY ON PRICE LATENCY ARBITRAGE OPPORTUNITIES MAY BE REVOKED, WITHOUT PRIOR NOTICE. HYPER GLOBAL TRADE. PTE. LTD. RESERVES THE RIGHT TO MAKE THE NECESSARY CORRECTIONS OR ADJUSTMENTS ON THE ACCOUNT INVOLVED, WITHOUT PRIOR NOTICE. ANY DISPUTE ARISING FROM SUCH QUOTING OR EXECUTION ERRORS WILL BE RESOLVED BY HYPER GLOBAL TRADE. PTE. LTD. IN THEIR SOLE AND ABSOLUTE DISCRETION.

HYPER GLOBAL TRADE. PTE. LTD. shall have no obligation to contact you to advise upon appropriate action in light of changes in market conditions or otherwise. You agree to indemnify and hold HYPER GLOBAL TRADE. PTE. LTD., its Affiliates and any of their directors, officers, employees and agents harmless from and against any and all liabilities, losses, damages, costs and expenses, including legal fees incurred in connection with the provision of the services under these Terms of Business to you provided that any such liabilities, losses, damages, costs, and expenses have not arisen for our gross negligence, fraud or willful default.

Exclusions, Limitations, and Indemnity Nothing in these Terms of Business shall exclude or restrict any duty or liability owed by us to you under the Act (as may be amended or replaced from time to time).

25. General Exclusion

Neither we nor our directors, officers, employees, or agents shall be liable for any losses, damages, costs or expenses (including direct, indirect, incidental, punitive, or consequential loss, loss of profits, lost data, loss of use of the HYPER GLOBAL TRADE. PTE. LTD.. Online Facility, business interruption, costs of substitute, services or downtime costs), whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under these Terms of Business (including any Transaction or where we have declined to enter into a proposed Transaction) unless such loss arises directly from our respective gross negligence, willful default or fraud. To the extent permitted by law, we will not be liable for losses suffered by you or any third party for any special damage, or loss of profits or loss of goodwill or reputation or loss of business opportunity arising under or in connection with these Terms of Business, whether arising out of negligence, breach of contract, misrepresentation or otherwise. Nothing in these Terms of Business will limit our liability for death or personal injury resulting from our negligence.

26. Trading Losses

For the avoidance of doubt, in no circumstances shall we be liable to you, or responsible, for any losses or other costs or expenses of any kind arising out of or in connection with the placement of Orders by you, or the execution of Transactions with us.

27. Tax Implications

Without limitation, we do not accept liability for any adverse tax implications of any Transaction whatsoever. Changes in the market: Without limitation, we do not accept any liability by reason of any delay or change in market conditions before any particular Transaction is affected.

28. Internet Failures

Since HYPER GLOBAL TRADE. PTE. LTD. does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, HYPER GLOBAL TRADE. PTE. LTD.. cannot be responsible for communication failures, distortions or delays when using the HYPER GLOBAL TRADE. PTE. LTD. online trading platform(s).

29. Amendments

We reserve the right to amend the terms and conditions of these Terms of Business from time to time by posting such changes on the HYPER GLOBAL TRADE. PTE. LTD. website and in accordance with the Act. You are responsible for regularly reviewing theseTerms of Business for any modifications and agree to be bound by the same. You may not amend these Terms of Business unless such amendment is in writing and signed by an authorized officer of HYPER GLOBAL TRADE. PTE. LTD. Unless otherwise agreed, an amendment will not affect any outstanding Order or Transaction. If you do not wish to accept any amendment made by us to these Terms of Business you may by notice to us close your open Margin Transactions and your Account in accordance with these Terms of Business.

30. Rights and Remedies

The rights and remedies provided under these Terms of Business are cumulative and not exclusive of those provided by law. We shall be under no obligation to exercise any right or remedy either at all or in a manner or at a time beneficial to you. No failure by us to exercise or delay by us in exercising any of our rights under these Terms of Business (including any Transaction) or otherwise shall operate as a waiver of those or any other rights or remedies. No single or partial exercise of a right or remedy shall prevent further exercise of that right or remedy or the exercise of another right or remedy.

31. Set-off

Without prejudice to any other rights to which we may be entitled we may at any time and without notice to you set off any amount (whether actual or contingent, present or future) at any time owing between you and us.

32. Partial Invalidity

If, at any time, any provision of these Terms of Business 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 Terms of Business nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.

33. Entire Agreement

These Terms of Business, and any references to other agreements herein, together with any schedules attached hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous oral or written communications, proposals, agreement and representations with respect to the subject matter.

34. Waiver

We are entitled to waive or relax any of these Terms of Business from time to time without notice to you. No failure or delay in exercising or relaxation by us of these Terms of Business shall operate as a general waiver of the relevant term, condition, right or power and no partial or single exercise of any term, condition, right or power shall preclude any other or further exercise of some or any of our other rights and remedies against you. In particular, and without limitation, where these Terms of Business specify certain limits or parameters to your trading activities or Margin requirements, we shall be entitled from time to time and with or without notice to you to allow you to breach such limits or parameters.

35. Recording of Calls

We may record telephone conversations without use of a warning tone to ensure that the material terms of the Transaction, and any other material information relating to the Transaction is promptly and accurately recorded. Such records will be our sole property and accepted by you as evidence of the Orders or instructions given.

36. Electronic Communications

Subject to Applicable Regulations, any communications between us using electronic signatures shall be binding as if it were in writing. By execution of these Terms of Business you give your consent to the receipt of communications by electronic means which but for your consent must be made using a durable medium under Applicable Regulations. Orders or instructions given to you by electronic means will constitute evidence of the Orders or instructions given. You hereby consent that account information and trade confirmations will be made available to you on the HYPER GLOBAL TRADE. PTE. LTD. Online Facility in lieu of delivery via mail or email. You will be able to access this information using your Access Code. Updated information will be available no more than twenty-four hours after any activity takes place on your account, absent any Force Majeure Event or service interruption. If you no longer wish to communicate in this way, you must revoke this consent in writing. If you do not wish to communicate via electronic means at all, you must inform us of your wishes prior to you signing the signature page of these Terms of Business.

37. Our Records

Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with our services. You will not object to the admission of our records as evidence in any legal proceedings because such records are not originals, are not in writing or are documents produced by a computer. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request at our absolute discretion.

38. Your Records

You agree to keep adequate records in accordance with Applicable Regulations to demonstrate the nature of Orders submitted and the time at which such Orders are submitted.

39. Third Party Rights

The parties to these Terms of Business do not intend that any provision of these Terms of Business should be enforceable by any person who is not a party to these Terms of Business. Co-operation for proceedings: If any action or proceeding is brought by or against us in relation to these Terms of Business or arising out of any act or omission by us required or permitted under these Terms of Business, you agree to co-operate with us to the fullest extent possible in the defense or prosecution of such action or proceeding.

40. Governing Law A

Transaction which is subject to the Rules of a Market shall be governed by the law applicable to it under those Rules. Subject thereto, these Terms of Business shall be governed by and construed in accordance with the laws of Malaysia.

Legal Entity Disclosure

HYPER GLOBAL TRADE. PTE. LTD. and Hyperforex are the marketing names for Hyper Global Trade Pte. Ltd. Hyper Global Trade Pte. Ltd. Is the owner of HyperForex and Hyper Global Trade Pte. Ltd. brand and is incorporated under the laws of Malaysia, regulated by Labuan Financial Services Authority, with Money Broking License No. MB/19/0032, having its registered office at Office 3, Jamie Business Centre ll, 2nd Floor, Lot 6, Jalan Bunga Dahlia, 87007 F. T. Labuan, Malaysia.

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ABOUT US > LEGAL DOCUMENTS

PRIVACY POLICY

The goal of Hyper Global Trade Pte. Ltd. is to build up and maintain good trust with clients in terms of handling clients’ personal information.

Introduction

  • We are committed to safeguarding the privacy of our website visitors and users. In this policy, we explain how we will handle your personal data.
  • We collect the necessary information required to open a client’s account, transaction and safeguard client’s privacy and assets. This is to provide our clients with the best services and experience.
  • Information we collect includes the ones required for sound communication and client’s identification purposes. Hyper Global Trade Pte. Ltd. may collect other information including birth date, occupation, education, and trading related information such as trading experience for KYC purposes.
  • By using our website and agreeing to this policy, you consent to our use of cookies in accordance with the terms of this policy.
  • This website is owned and operated by Hyper Global Trade Pte. Ltd. in Labuan, Malaysia.

Usage of Client’s Personal Information

We will store your personal information in our system and may use or process data about your use of our website and services.

Gathering and usage of the client’s personal data willinclude the following.

  • Non-personal information such as location, IP, type of browser, OS, number of visits, time of visits, duration of visits, viewed pages, etc… This information may be gathered and used for the analysis of how clients use our website and services. The legal basis for this processing is our legitimate interests, namely monitoring and improving our website and services.
  • Collected information may also be used to inform clients of additional products, services or promotions relevant to clients and in this respect, the clients hereby consent to the usage of this collected data for such purposes.
  • In addition to the information described above, we may gather personal information to help clients with financial needs. This personal information includes, but not limited to, name, gender, date of birth, address, telephone number, email address, employment status, banking details, etc… These data may be processed for the purpose of monitoring client’s use of the website, out website operation, service provision, web site security, and maintaining data back-ups of our database.
  • We may gather and process information from client’s inquiry for the purpose of marketing, offering, providing and sales of relevant product and service. The legal basis for this processing is consent provided to us when the client signed the Customer Agreement with Hyper Global Trade Pte. Ltd. We may also process information provided by clients or prospective clients for the purpose of subscribing to our email notifications and/or newsletters.
  • We may process information contained in or relating to any communication that the clients send to us. This data contains communication content and metadata associated with communication between Hyper Global Trade Pte. Ltd. and clients. The metadata associated with communications by website contact forms will be generated and processed for communication and record keeping purposes.
  • Personal data may be processed where it is required for compliance with a legal obligation.

Usage of Information from Third Parties

We work with companies that place and track advertisements on third party websites and/. or service providers. Client’s personal data may be disclosed to third party service providers that process data on our behalf.

  • All third party data processors that process data on behalf of Hyper Global Trade Pte. Ltd. are obliged to enter into a data processing agreement.
  • We also place advertisements where we think they will be most relevant to customers. This disclosed data may combine online and offline information about our existing and/or prospective clients.
  • We may use marketing segments provided by online publishers and network advertising companies. Those network advertising companies have their own privacy policies and are not subject to our Online Privacy Statement.

Clients Contact

From time to time, Hyper Global Trade Pte. Ltd. may
contact clients either by phone or email for the purpose of offering further
information about services and/or introducing new services.

  • Hyper Global Trade Pte. Ltd. may, on occasion, seek to contact clients, either by phone or email, for the purpose of informing clients of promotions. Clients consent to the receipt of such contact when they consent to our terms and conditions of use when registering with Hyper Global Trade Pte. Ltd.
  • Clients wishing to opt out of these contacts from Hyper Global Trade Pte. Ltd. are entitled to do so. Clients could do this at any time simply by contacting Hyper Global Trade Pte. Ltd. and requesting no further contact.

Retaining and deleting personal data

  • Hyper Global Trade Pte. Ltd. retains personal data for processing for purposes listed previously. Any personal data that we process for any purposes shall not be kept for longer than it is required for those purposes. We keep personal data for a minimum of 5 years from the date of closure of the account with us.
  • We may retain the client’s personal data where such retention is necessary for compliance with a legal obligation.

About cookies

Cookies are small files which are stored on a user’s computer. They are designed to hold a modest amount of data specific to a particular client and website and can be accessed either by the web server or the client computer. This allows the server to deliver a page tailored to a particular user, or the page itself can contain some script which is aware of the data in the cookie and so is able to carry information from one visit to the website (or related site) to the next. Cookies do not typically contain any information that personally identifies a user, but personal information that Hyper Global Trade Pte. Ltd. store about clients may be linked to, but not contained into the information stored in and obtained from cookies.

  • Clients can control whether to accept cookies or not. For clients decided not to accept cookies, those clients may not be able to have access to full feature and services on our website because Hyper Global Trade Pte. Ltd.’s website may not be able to recognize and associate clients with their accounts.
  • Hyper Global Trade Pte. Ltd. may share client’s web site usage statistics with reputable, third-party advertizement company as well as its affiliate marketing companies. However, those information contained and collected in cookies from those advertisement and affiliate companies contain no personally identifiable information. Hyper Global Trade Pte. Ltd. may use services and products from third party companies to track and analyze statistical and usage volume information for improvement in services and products. Those third party companies may use cookies to track information and statistical value on behalf of Hyper Global Trade Pte. Ltd., however, those cookies contain no personally identifiable information.

Updates on Privacy Policy

  • Hyper Global Trade Pte. Ltd. may update Privacy Policy from time to time by publishing a new version on its website.
  • Hyper Global Trade Pte. Ltd. encourages its clients to occasionally check and review the Privacy Policy page on Hyper Global Trade Pte. Ltd. website so that clients are aware of changes to this policy.
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ABOUT US > LEGAL DOCUMENTS

RISK DISCLOSURE

RISK WARNING

Forex Trading (off-exchange foreign currency trading) entails significant risks. Please, read this section very carefully, before making a decision to trade.

High-Risk Investment

Trading foreign currencies on margin carries a high level of risk. Trading on margin may not be suitable for all investors.

It is important to consider trading objectives, experience, and risk tolerance before making a decision to start trading foreign exchange and CFDs.

Leverage creates additional risk and loss exposure. High leverage allows the client to assume more risk, magnifying both losses and profits. Sometimes, high leverage results in a loss excessing trading capital.

When the market moves against the client’s open position, he/she may need to make an additional deposit to maintain the open position. Risks involved in the chosen strategy, a financial decision, financial resources, they are all the responsibility of the client.

High leverage with low margin can result in significant losses. Clients are advised not to invest money that they cannot afford to lose.

It is recommended to be educated in the foreign exchange market and all the associated risks before start trading. Seek advice from an independent financial advisor, should you have any doubts.

Market opinions and information warning

Hyper Global Trade Pte. Ltd. Provides references materials, education, links, tools, research, and various sources of market information on the website. The information is provided as general commentary and does not constitute investment or trading advice.

Hyper Global Trade Pte. Ltd. Is not liable for any trading profit or loss which may be, directly or indirectly, incurred by use of, or reliance on the aforementioned information.

Hyper Global Trade Pte. Ltd. has taken reasonable measure to ensure the information on the website is accurate. However, the accuracy of the information on the website is not guaranteed. Hyper Global Trade Pte. Ltd. will not accept liability for any loss or profit incurred by the client’s direct or indirect reliance on the contents of the website.

The contents on this website are subject to change at any time without notice.

Margin

Hyper Global Trade Pte. Ltd. Is authorized to convert funds in client’s trading account for margin into and from such foreign currency at a rate of exchange determined by Hyper Global Trade Pte. Ltd. in its sole discretion on the basis of then-prevailing money market rates.

In order to maintain open positions, the client must maintain a minimum margin requirement at all times and it is the client’s responsibility to monitor required margins for open positions.

If the minimum margin requirements are not met in such a way that the client’s margin level goes below the minimum required margin level, Hyper Global Trade Pte. Ltd. Has the right to liquidate the open positions of such client.

Using Stop-Loss for risk management

Stop-Loss orders are the type of orders used to reduce possible losses on client’s positions when the market price fluctuates. It may also be used to limit the maximum losses on the open positions. However, this type of order is not guaranteed and may not be able to execute under certain market conditions.

Market Risks and online Risks

The trading platform provides sophisticated order entry and tracking of orders. Trading online, no matter how convenient or efficient, does not necessarily reduce risks associated with currency and CFDs trading.

The profit and loss in any given transaction may be affected by a currency rate. When profit or loss is realized and the client wants to convert it to account base currency, currency rate may affect and the total profit or loss can be different.

Technical Risks

There are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connections. SinceHyper Global Trade Pte. Ltd. does not control signal power, its reception or routing via Internet, the configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet.

Hyper Global Trade Pte. Ltd. employs backup systems and contingency plans to minimize the possibility of system failure.

The clients acknowledged that at the moment of peak load when economic indicators or important market news is released, there may be some issue from the trading platform due to a large amount of data feed.

The clients acknowledged that the server may be disconnected for maintenance purposes. Most of the time, the client’s terminal reconnects to the server however, on some occasion, it may not be automatically reconnected to server and clients are advised to monitor connection status.

The client is responsible for any technical issues sustained on the client’s side. These issues include but not limited to

  • Hardware failure: Such as network system, rack, desktop, notebook, tablet, smartphones, etc…
  • Software failure: OS of client’s device error, trading platform error, virus, etc…
  • Electricity failure: Power outage or blackouts on the location where the trading platform is running.
  • Network problem, failure: Internet failure on the site. Client’s Server issue. Unstable network connection. Etc…

Distribution

Any services or investments referred to in the website is not available to a person residing in a country where the provision of such services or investments would be contrary to local law or regulation.

It is the client’s responsibility to ascertain the terms of and comply with any local law or regulation to which they are subject to.

Human Error

The clients should understand that any error or mistake that is made by an employee of Hyper Global Trade Pte. Ltd. that results in opening positions at untraded price will be subsequently be deleted.

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ABOUT US > LEGAL DOCUMENTS

DEPOSIT AND WITHDRAWAL POLICY

Deposit and Withdrawal Policy of Hyper Global Trade Pte. Ltd.(hereinafter referred to as the “Company” or “HyperForex”) was developed for the purpose of reducing financial and legal risks of the company and its clients. In order to start trading that may generate profit/loss requires clients to deposit funds into their E-wallet first, then transfer the fund into their trading account. The terms of deposits and withdrawals are regulated by this Deposit and Withdrawal Policy and Terms and Conditions.

Deposit

HyperForex provides clients with various deposit options. Clients can choose any of available deposit options and make deposit in order to start trading live account. However, client must note that any of available deposit methods only accepts funds from a source under client’s name. For example, if a client choose to make deposit through wire transfer, the account which the client is transferring money from, must be under client’s name. No third party deposit is accepted. If the client does not comply with our Deposit policy, the client may be prohibited from depositing any funds into HyperForex’s account.

Withdrawals

Generally accepted AML policy and regulation states that the withdrawals must be performed only to the same bank account or deposit source which the client used initially to make deposit of their funds into account created with HyperForex. Unless HyperForex agree otherwise, withdrawals from client’s E-wallet to client’s account which the deposit was initially made from, may only be made under same currency. The company proceeds withdrawal request only to the rightful owner of the account. Withdrawal request to a person or entity other than the account holder(or whose name appears on the account), would not be processed.

When clients request for a withdrawal using available payment methods, clients should be aware of possible additional transaction fees and restrictions which may apply. Withdrawals, especially international transfers are subjected to processing and handling fees. Wiring fees may occur from beneficiaries’ banks or charged by the intermediary bank. HyperForex may execute withdrawals to a different facility than the one clients used for initial deposit. For example, client made deposit through credit card payments but withdrawal of deposit may be processed through wire transfer. For withdrawals, HyperForex may request additional information to clients such as information and documents for verification purposes.

Credits(Non-deposited Funds)

There may be funds other than client’s deposit or gains client make trading profit. This credit amount may include rebates, bonuses or incentives. HyperForex provides bonuses time to time and rebate or incentives through partnership programs and those credited amount are considered “Non-deposited Funds”. There may be limitation on making withdrawal on credit through bonus under Bonus Terms and Conditions.

Withdrawal Processing Time

Clients may withdraw funds from their trading account at any time. Once clients make withdrawal request and is submitted, the company process clients’ request promptly, mostly in one business day but it can take longer depending on which transaction method client choose to receive fund. Occasionally, redemption process might take longer due to the process The company takes in order to observe and monitor counteraction of money laundering and transaction involved in terrorist activities.

Suspicious Activities or Transactions

The company has the right to block client’s access to their private profile to suspend any suspicious activities on accounts. If clients’ activities are deemed to be counteraction of policy of anti-money laundering and terrorist activity financing, clients’ trading activities on their account will be suspended and The company would cancel the demand for input/output, or to make return of funds involved in such activities.

In case The company classifies client’s activity is inappropriate, or contradiction to the usual purpose of usage of the company services, where there is direct, or indirect, illegal or unfair intention are monitored, the company has the right to work within this document without providing notification to the client.

Withdrawal Requested with Incorrect Information

For expedite process on withdrawal request, clients are advised to ensure withdrawal request contains the correct details and information. The request form must be filled entirely. Mistake or wrong transaction made by the company shall be refunded to the client. However, the client must provide correct information on request. Incorrect transaction due to wrong instruction from the client would not be reversed and this may lead to client’s loss.

Currency Exchange

Clients may be from various countries and their account may comprise of different currencies. Client’s account with HyperForex is maintained in US dollars. If the client send funds in another currency than US dollars, usually, the currency is exchanged to US dollars from the source which client made the deposit through. For example, if a client made deposit through credit card payment in another currency than US dollars, the currency will be converted from client’s base currency to US dollars by payment processing entity. If the client sends funds in Chinese yuan, to the company’s bank account in Chinese yuan as base currency, the company will apply an exchange rate on its own discretion and Bloomberg will be referred as reference exchange rate and the exchange rates may be adjusted to manage currency risks.

Additional Conditions

Please note this policy cannot be exhaustive, and additional conditions or requirements may apply at any time due to regulations and policies. Please also note this policy and Terms and conditions may be amended from time to time by the company, at its sole discretion.

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ABOUT US > LEGAL DOCUMENTS

REFUND AND RETURN POLICY

Return and refund policy of Hyper Global Trade Pte. Ltd.(hereinafter referred to as the “Company” or “HyperForex”) was developed for the purpose of reducing financial and legal risks of the company and its clients.

The company may go for an exception in some cases when it is necessary to return the clients’ credit card payment. This payment return can be made only if the client justifies the reason for doing this. In this case, the return of funds is made only on the credit card that was used for deposit.

  • The company may go for an exception in some cases when it is necessary to return the clients’ credit card payment. This payment return can be made only if the client justifies the reason for doing this. In this case, the return of funds is made only on the credit card that was used for deposit.
  • The company has to close the clients account by his/her demand if there are no charges applied to client’s account.
  • The company has the right to block client’s access to their private profile to suspend any suspicious activities on accounts. If clients’ activities are deemed to be counteraction of policy of anti-money laundering and terrorist activity financing, clients’ trading activities on their account will be suspended and The company would cancel the demand for refund, or to make return of funds involved in such activities. In case The company classifies client’s activity is inappropriate, or contradiction to the usual purpose of usage of the company services, where there is direct, or indirect, illegal or unfair intention are monitored, the company has the right to work within this document without providing notification to the client.
  • The company does not have to provide any type of refund to client in case the client makes loss on his/her trading due to any reason.
  • A refund request can only be made from the account which the client has been deposited into but under circumstances that the client has executed no orders. In this case, usually the refund will be made from the same payment method the client has used for deposit. The refund will be full amount of deposit the client has made unless other arrangements have been made.
  • Processing time of client’s refund request is usually around 1~2 weeks. However, depends on circumstances, this processing time may vary.
  • All other requests from clients involving outflow of funds from their account will be treated as Withdrawals.
  • HyperForex does not allow traders who attempts to take advantage of small price moves and narrow ranges over a small time frame. Those types of traders are considered as a “Scalper” or a “Pip Hunter” and HyperForex may, at its sole discretion, and without any prior written notice, take one of the following actions:
  • - Termination of this agreement.
  • - Closing out all or any of the client’s open positions at current market prices.
  • - Debiting the client account(s) for the amounts which are due to the company.
  • - Closing any or all of the client’s account held with the company.
  • - Consolidating the balances in such client’s accounts and offsetting those balances.
  • - Refusing clients application for new account opening or reinstating blocked access to the company.
  • - Withholding the client’s deposited funds indefinitely.
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ABOUT US > LEGAL DOCUMENTS

KNOW YOUR CLIENT ANTI- MONEY LAUNDERING COMBATING THE FINANCING OF TERRORISM

KYC/AML/CFT POLICY

1. Introduction

Hyper Global Trade Pte. Ltd(hereinafter referred to as the “Company”), is incorporated under the laws of Malaysia, regulated by Labuan Financial Services Authority, with Money Broking License No. MB/19/0032, having its registered office at Office 3, Jamie Business Centre ll, 2nd Floor, Lot 6, Jalan Bunga Dahlia, 87007 F. T. Labuan, Malaysia.

Based on the requirements of these Acts, the company is committed to the maintenance of a compliance programme which shall include:

  1. a) a system of internal controls and procedures to ensure ongoing compliance:
  2. b) internal or external independent testing for compliance;
  3. c) training of personnel in the identification of suspicious transactions; and
  4. d) Designation of an appropriate officer, responsible for continual compliance with the Act.

These procedures will have effect upon approval of the Board of Directors, and shall continue to be in operation unless amended on the authority of the Board of Directors.

i. Scope and Objectives of KYC/AML/CFT Policy

These procedures are established to guide staff in identifying common practices used in money laundering and terrorist financing, to deter such practices and when discovered or suspected, to use a systematic, uninformed approach for dealing with it.

This Policy will be applicable for all Bank operations, local and international.

The objective of this policy is to ensure that the products and services of the company. are not used to launder the proceeds of crime and that all of the Bank’s staff is aware of their obligations and the need for vigilance in the fight against money laundering and terrorist financing.

As a policy, the company. is committed to complying with all the regulatory instructions, laws, and regulations (issued from time to time) by Labuan Financial Services Authority and regulators of the countries where the company. operates.

Definitions

- Money Laundering
  1. a) Engaging, directly or indirectly, in a transaction that involves property that is the proceeds of crime, knowing or having reasonable grounds for believing the same to be the proceeds of crime; or
  2. b) Receiving, possessing, managing, investing, concealing, disguising, disposing of or bringing into Malaysia any property that is the proceeds of crime, knowing or having reasonable grounds for believing the same to be the proceeds of crime; and
  3. c) Notwithstanding the above definition (a) and (b) as provided under the Proceeds of Crime Act, a universal definition is “the process whereby the identity of dishonesty and/or illegally obtained money is transformed so that it appears to have originated from a legitimate source”.
- Proceeds of Crime

Any monies derived or obtained, directly or indirectly, through the commission of a prescribed offence (see Appendix A), whether committed in Labuan Financial Services Authority or elsewhere; and shall include any monies that are knowingly mingled with laundered funds.

- Property

Money, investments, holding, possessions, assets, and all other property real or personal, heritable or moveable, including things in action and other intangible or incorporeal property wherever situate (whether in Labuan Financial Services Authority or elsewhere) and includes any interest in such property.

- Money

Money includes cash, bank cheques, drafts, money orders or traveler’s cheques.

- Identification Record

In the case of a corporate body, the details of the certificate of incorporation, such certificate to be notarized if a foreign company; the most recent annual return and any officer of the company. In the case of a person, sufficient documentary evidence to prove to the financial institution that the person is who that person claims to be.

- Business Transaction

Any arrangement, including opening an account, between two or more persons where the purpose of the arrangement is to facilitate a transaction between the parties concerned and includes any related transaction between any of the parties concerned and other parties.

- Suspicious Business Transaction Report (SBTR)

The Suspicious Business Transaction Report is the document that shall be used for reporting every transaction that is considered to be suspicious that is, unusual or complex which includes but is not limited to large transactions. The SBTR should also be used for those transactions that have no apparent economic or lawful purpose, although the value may be considered insignificant.

- Supervisory Authority

Supervisory Authority means the Labuan Financial Services Authority for the time being, and includes any person authorized by the FIU in writing in that behalf.

2. KNOW YOUR CUSTOMER – Principle and Guidelines

The principle of “Know Your Customer” is critical for any financial institution to monitor unitholders’ activities in order to make a determination as to the existence of money laundering activities.

In this regard, policies and procedures must be established for verifying the identity of all customers (i.e. both new and existing, corporate, unincorporated and individuals). The company.

shall request from new customers, documentary evidence of identity that includes a photograph (for individuals) and signature/s. Copies of such documents should be retained. Addresses should be verified by, for example, a recent valid utility bill and copies of all such documents should be retained on file for a minimum of five (5) years.

The company, shall obtain from all customers, including signatories to corporate accounts their full name, date of birth (or Certificate of Incorporation in the case of a Company), nationality, occupation (or the Memorandum and Articles of Association in the case of a Company) and the most recent annual company return filed at the General Registry if necessary. In the case of a company incorporated outside of Malaysia, all forms of identification must be duly notarized.

These identification procedures must be followed on the opening of any account and the company should not transact business with any new customer who refuses to provide or provides inadequate evidence of identity. If management suspects that customers are not acting on their own behalf, the true identity of the persons on whose behalf the account is opened or the transaction is conducted, must be verified.

Furthermore, in ascertaining details on the origin of the assets and source of income declared by a customer, the staff at the company. are hereby expected to follow the following directions to obtain the information it deems necessary in order to complete an account application for approval or disapproval.

PERSON / ACTUAL OWNER: Inheritance / Donation
  • – Indicate from whom the donation was made or who was the testator’s request, the relationship with the customer and the activities which generated the patrimony. In the case of entrepreneurial activity also indicate the name of the company if known by the beneficiary.
  • – Indicate the year in which it was collected.
  • – Indicate the amount of the inheritance attributable to the customer or the value in case of real estate or securities.
Entrepreneurial Income
  • – Indicate the name of the company and attach the all corporate documentation as noted above.
  • – Indicate the net profits of the last 3 years. If the company is at a loss, give useful information about the previous incomes that have generated the wealth. Enter, if available, other financial data such as revenues, number of employees and establishments and the amount of the share capital.
  • – Indicate the percentage of the client’s holdings in the company.
  • – Describe the customer’s activity within the company and when it started.
Revenue Employee
  • – Indicate the name of the company for which the customer has worked / works and which generated the wealth.
  • – Specify the role within the company.
  • – Specify if it holds shares of the company and where (Italy or abroad) and their
  • – Value/proportion.
  • – Indicate the average income in the years in which the entrusted assets at the company. have been generated and the time period.
  • – If the revenue has been earned abroad clearly state it in the form indicating the relevant period.
Freelancer/Self-employed
  • – Indication of any studio/company he works for and which generated the wealth.
  • – Specify what constitutes his professional activity.
  • – Indicate the average income in the years in which the entrusted assets at the company. have been generated.
Sale of Real Estate / Investments – IPO
  • – Indicate the year of sale and the location of the property.
  • – Enter a brief description of the characteristics of the property / indicate the percentage owned.
  • – Indicate the amount received.
Annuity Financial / Landlord / Housewife / Retired
  • – Indicate how you generated the initial assets.
  • – Indicate when the assets were transferred to the company and the annual growth rate justifying the current assets’ value.
  • – Indicate if there have been significant contributions later (when, how much and from what activity).

In the case in which the customer refuses to give the required information, the relationship cannot be established.

Finally, it is important to corroborate information on the assets with documentary evidence or public sources such as:

  • – Inheritance: a copy of the inheritance.
  • – Donation: a copy of the deed of donation or bank account that certifies the origin of the donor.
  • – Employee income: a copy of a government-issued annual income report (not older than 3 years), or recent pay slip (indicating the monthly salary).
  • – Self-employed: a copy of a government-issued annual income report (not older than 3 years).
  • – Sale of property: deed of sale.
  • – Sale of business or investments: evidence from the press or from databases (Cerved, Lynx).

In the case of a high money laundering risk profile (ie: 3.Medium, 2.High, 1.Very High according to the company. parameters), the Bank reserves the right to request additional information or evidence without which there is no obligation to establish the relationship with the client or to withdraw from a client relationship after the periodic review of the existing relation.

Type of Customers that HYPER GLOBAL TRADE PTE. LTD. will not accept

Type of Customers that HYPER GLOBAL TRADE PTE. LTD. will not accept

  1. a) Gamblers/Bookies
  2. b) UN Registered Money Changers/Exchange Companies
  3. c) Anonymous or Fictitious Accounts
  4. d) Shell banks/ Companies
  5. e) Unregistered Arms-related business
  6. f) Accounts where the customer is acting on behalf of another customer to open an account. (The account shall be opened in the name of the person who is the beneficial owner of the funds in the account).

3. RECORD KEEPING

Business transaction records must be maintained for at least seven (7) years after the termination of the business transaction namely:

  1. a) Account application form that bears the signature of the individual who is authorized to give instructions in respect of the account.
  2. b) Application receipts for confirmation of purchase or sale, power of attorney, and all correspondence that pertains to the operation of accounts, that is received or created in the normal course of business, or copies thereof.
  3. c) A copy of every account statement that is sent to a unitholder.
  4. d) All necessary records on transactions, both domestic and international after the relationship between the customer and itself has ended, to allow for compliance with information requests and inspections from law enforcement authorities. Records must be kept in sufficient form to permit reconstruction of individual transactions so as to provide evidence, if necessary, for the prosecution of criminal behavior. These records would be made available to the supervisory and law enforcement authorities in the context of criminal investigations and prosecutions.

The company will maintain all necessary records of transactions, including the results of any analysis undertaken (e.g. inquiries to establish the background and purpose of complex and/or unusual transactions) for a minimum period of seven years from completion of the transaction.

The records of identification data obtained through customer Due diligence process, such as copies of identification documents, account opening forms, verification documents and other documents along with records of account files and business correspondence, will be maintained for a minimum period of seven years after the business relationship is ended. The identification records may be maintained in documents as originals or copies subject to bank’s attestation.

4. TRAINING

The company will maintain training programs to make its staff constantly aware of their obligations in relation to matters of money laundering and terrorism financing. These programs will cover all matters dealt with in these guidelines and the anti-money laundering and combating the financing of terrorism legislative provisions.

Refresher training will be provided at regular intervals no less frequently than once a year.

All employees training shall enable them to understand new developments, money laundering and financing of terrorism techniques, methods, and trends. The training should also include their responsibilities relating to AML/ CFT especially requirements relating to Customer Due Diligence and analysis of abnormal/out of pattern transactions and alerts generated thereof for possible reporting of suspicious transactions.

It is also important to test the capability and knowledge of the relevant staff on a periodic basis as the periodic training of staff is crucial. The company will always participate in comprehensive AML/CFT Training Programs.

AML /CFT awareness training will be provided to all members of staff periodically and will be arranged by the Compliance Officer.

Participation in this training is compulsory. Appropriate records of the training provided will be maintained.

5. COMPLIANCE OFFICER

The company shall designate its accountant or other such officer to carry out the function of “Compliance Officer”. This Compliance Officer will have the responsibility for reviewing the initial findings of suspicious or unusual transactions, reported by management and staff. Where the Compliance Officer considers the suspicions to be justified, he shall notify the Supervisory Authority.

The Compliance Officer shall operate as the liaison officer where the company is required to act in accordance with the Instructions of the law enforcement authorities.

6. MONITORING AND REPORTING OF UNUSUAL OR SUSPICIOUS TRANSACTIONS

The company should pay attention to and properly document the background and purpose of all large, complex, and unusual transactions or patterns of transactions and insignificant but periodic transactions that have no apparent economic or visible lawful purpose.

A suspicious transaction is one that is inconsistent with a customer’s known legitimate business or personal activities or with the normal business for that type of account. Suspicious transactions should be promptly reported to the Supervisory Authority.

Where a suspicious transaction has been determined and there are reasonable grounds to believe that a money laundering offence has been or is about to be committed, the Suspicious Transaction Report shall be completed by the compliance officer and after consultation with the Chief Executive Officer, it should be forwarded to the supervisory authority.

Employees of the company are expected to cooperate fully with the law enforcement authorities and they shall not notify any person, other than a court, competent authority or other person authorized by law, that information has been requested by or furnished to a court by the Supervisory Authority.

Employee(s) may be disciplined if they fail without reasonable excuse to report a potentially suspicious transaction. It is a criminal offence for anyone, following a disclosure to the Compliance Office, to do or say anything that might either ‘tip off’ another person that a disclosure has been made or prejudice an investigation.

It is the company’s policy to carry out appropriate money laundering checks on all clients (managed accounts or funds). The findings will be retained by the Compliance Officer.

A non-exhaustive list of examples of suspicious transactions is appended for the guidance of all staff in Appendix B.

7. COMPLETION OF THE BUSINESS TRANSACTION REPORT

The Suspicious Business Transaction Report must be completed for every transaction that is considered to be unusual, complex or suspicious. There are five (5) parts to the report, each of which must be fully completed and which requires specific information as follows:

  1. Part I – Customer Information
    (Name, Address, Account number)
  2. Part II – Business Transaction Information
  3. Part III – Details of Suspicious Information
  4. Part IV – Client Service Representative/Teller Details
  5. Part V – Details and Signature of Compliance Officer and CEO

Whilst the responsibility for the completion of the report is that of the Senior Member of staff with the Authority to prepare and file Suspicious Activity/Transaction Reports with the Competent Supervisory Authority, if the individual actually dealing with the customer has any reason to believe that a transaction is suspicious, he/she must refer the transaction to this Senior Member. The Senior Member upon examining that particular transaction should forward those details to the Chief Executive Officer before a decision is made to complete a Suspicious Transaction Report Form for dispatch to the Supervisory Authority.

8. GENERAL CONTROLS

The management and staff of the company. Should exercise extreme caution in dealing with persons including financial institutions from other countries, especially those countries that have no legal provisions or insufficient legal provisions to counter the incidence of money laundering.

The internal and external auditors are expected to test the policies, procedures and systems for compliance with these guidelines. Semi-annual reports from the internal auditors should be submitted to the Chairman, Audit Committee and the Board of Directors of the company.

N.B. Management should consider severing all relations with customers whom they reasonably suspect to be using the Corporation as a vehicle for conducting illegal activities.

Appendix A

PRESCRIBED OFFENCES
  1. a) Arms Trafficking
  2. b) Blackmail
  3. c) Counterfeiting
  4. d) Drug Trafficking and related offences
  5. e) Extortion
  6. f) False Accounting
  7. g) Forgery
  8. h) Fraud
  9. i) Illegal deposit-taking
  10. j) Kidnapping
  11. k) Robbery involving more than $10,000.00
  12. l) Terrorism
  13. m) Thefts involving more than $10,000.00

Appendix B

EXAMPLES OF SUSPICIOUS TRANSACTIONS (MONEY LAUNDERING and TERRORIST FINANCING)

Source: The Federal Financial Institutions Examination Council (FFIEC)

Potentially Suspicious Activity That May Indicate Money Laundering

Customers Who Provide Insufficient or Suspicious Information

  1. a) A customer uses unusual or suspicious identification documents that cannot be readily verified.
  2. b) A customer provides an individual tax identification number after having previously used a Social Security number.
  3. c) A customer uses different tax identification numbers with variations of his or her name.
  4. d) A business is reluctant, when establishing a new account, to provide complete information about the nature and purpose of its business, anticipated account activity, prior banking relationships, the names of its officers and directors, or information on its business location.
  5. e) A customer’s home or business telephone is disconnected.
  6. f) The customer’s background differs from that which would be expected on the basis of his or her business activities.
  7. g) A customer makes frequent or large transactions and has no record of past or present employment experience.
  8. h) A customer is a trust, shell company, or Private Investment Company that is reluctant to provide information on controlling parties and underlying beneficiaries. Beneficial owners may hire nominee incorporation services to establish shell companies and open accounts for those shell companies while shielding the owner’s identity.

Efforts to Avoid Reporting or Recordkeeping Requirement

  1. a) A customer or group tries to persuade company’s employee not to file required reports or maintain required records.
  2. b) A customer is reluctant to provide information needed to file a mandatory report, to have the report filed, or to proceed with a transaction after being informed that the report must be filed.
  3. c) A customer is reluctant to furnish identification when purchasing negotiable instruments in recordable amounts.
  4. d) A business or customer asks to be exempted from reporting or recordkeeping requirements.
  5. e) A person customarily uses the automated teller machine to make several bank deposits below a specified threshold.
  6. f) A customer deposits funds into several accounts, usually in amounts of less than $3,000, which are subsequently consolidated into a master account and transferred outside of the country, particularly to or through a location of specific concern (e.g., countries designated by national authorities and Financial Action Task Force(FATF) on Money Laundering as noncooperative countries and territories).
  7. g) A customer accesses a safe deposit box after completing a transaction involving a large withdrawal of currency or accesses a safe deposit box before making currency deposits structured at or just under $10,000, to evade Currency Transaction Report filing requirements.

Funds Transfers

  1. a) Many funds transfers are sent in large, round dollar, hundred dollar, or thousand dollar amounts.
  2. b) Funds transfer activity occurs to or from a financial secrecy haven, or to or from a higher-risk geographic location without an apparent business reason or when the activity is inconsistent with the customer’s business or history.
  3. c) Many small, incoming transfers of funds are received, or deposits are made using checks and money orders. Almost immediately, all or most of the transfers or deposits are wired to another city or country in a manner inconsistent with the customer’s business or history.
  4. d) Large, incoming funds transfers are received on behalf of a foreign client, with little or no explicit reason.
  5. e) Funds transfer activity is unexplained, repetitive, or shows unusual patterns.
  6. f) Payments or receipts with no apparent links to legitimate contracts, goods, or services are received.
  7. g) Funds transfers are sent or received from the same person to or from different accounts.
  8. h) Funds transfers contain limited content and lack related party information.

Automated Clearing House Transactions

  1. a) Large-value, automated clearing house (ACH) transactions are frequently initiated through third-party service providers (TPSP) by originators that are not bank customers and for which the bank has no or insufficient due diligence.
  2. b) TPSPs have a history of violating ACH network rules or generating illegal transactions, or processing manipulated or fraudulent transactions on behalf of their customers.
  3. c) Multiple layers of TPSPs that appear to be unnecessarily involved in transactions.
  4. d) Unusually high level of transactions initiated over the Internet or by telephone.
  5. e) NACHA — The Electronic Payments Association (NACHA) information requests indicate potential concerns with the bank’s usage of the ACH system.

Activity Inconsistent with the Customer’s Business

  1. a) The currency transaction patterns of a business show a sudden change inconsistent with normal activities.
  2. b) A large volume of cashier’s checks, money orders, or funds transfers is deposited into, or purchased through, an account when the nature of the account holder’s business would not appear to justify such activity.
  3. c) A retail business has dramatically different patterns of currency deposits from similar businesses in the same general location.
  4. d) Unusual transfers of funds occur among related accounts or among accounts that involve the same or related principals.
  5. e) The owner of both a retail business and a check-cashing service does not ask for currency when depositing checks, possibly indicating the availability of another source of currency.
  6. f) Goods or services purchased by the business do not match the customer’s stated line of business.
  7. g) Payments for goods or services are made by checks, money orders, or bank drafts not drawn from the account of the entity that made the purchase.

Lending Activity

  1. a) Loans secured by pledged assets held by third parties unrelated to the borrower.
  2. b) Loan secured by deposits or other readily marketable assets, such as securities, particularly when owned by apparently unrelated third parties.
  3. c) Borrower defaults on a cash-secured loan or any loan that is secured by assets which are readily convertible into currency.
  4. d) Loans are made for, or are paid on behalf of, a third party with no reasonable explanation.
  5. e) To secure a loan, the customer purchases a certificate of deposit using an unknown source of funds, particularly when funds are provided via currency or multiple monetary instruments.
  6. f) Loans that lack a legitimate business purpose, provide the bank with significant fees for assuming little or no risk, or tend to obscure the movement of funds (e.g., loans made to a borrower and immediately sold to an entity related to the borrower).

Shell Company Activity

  1. a) A bank is unable to obtain sufficient information or information is unavailable to positively identify originators or beneficiaries of accounts or other banking activity (using Internet, commercial database searches, or direct inquiries to a respondent bank).
  2. b) Payments to or from the company have no stated purpose, do not reference goods or services, or identify only a contract or invoice number.
  3. c) Goods or services, if identified, do not match profile of company provided by respondent bank or character of the financial activity; a company references remarkably dissimilar goods and services in related funds transfers; explanation given by foreign respondent bank is inconsistent with observed funds transfer activity.
  4. d) Transacting businesses share the same address, provide only a registered agent’s address, or have other address inconsistencies.
  5. e) Unusually large number and variety of beneficiaries are receiving funds transfers from one company.
  6. f) Frequent involvement of multiple jurisdictions or beneficiaries located in higher-risk offshore financial centers.
  7. g) A foreign correspondent bank exceeds the expected volume in its client profile for funds transfers, or an individual company exhibits a high volume and pattern of funds transfers that is inconsistent with its normal business activity.
  8. h) Multiple high-value payments or transfers between shell companies with no apparent legitimate business purpose.
  9. i) Purpose of the shell company is unknown or unclear.

Embassy and Foreign Consulate Account

  1. a) Official embassy business is conducted through personal accounts.
  2. b) Account activity is not consistent with the purpose of the account, such as pouch activity or payable upon proper identification transactions.
  3. c) Accounts are funded through substantial currency transactions.
  4. d) Accounts directly fund personal expenses of foreign nationals without appropriate controls, including, but not limited to, expenses for college students.

Employees

  1. a) Employee exhibits a lavish lifestyle that cannot be supported by his or her salary.
  2. b) Employee fails to conform to recognized policies, procedures, and processes, particularly in private banking.
  3. c) Employee is reluctant to take a vacation.

Potentially Suspicious Activity That May Indicate Terrorist Financing

Activity Inconsistent with the Customer’s Business

  1. a) Funds are generated by a business owned by persons of the same origin or by a business that involves persons of the same origin from higher-risk countries (e.g., countries designated by national authorities and FATF as noncooperative countries and territories).
  2. b) The stated occupation of the customer is not commensurate with the type or level of activity.
  3. c) Persons involved in currency transactions share an address or phone number, particularly when the address is also a business location or does not seem to correspond to the stated occupation (e.g., student, unemployed, or self-employed).
  4. d) Regarding nonprofit or charitable organizations, financial transactions occur for which there appears to be no logical economic purpose or in which there appears to be no link between the stated activity of the organization and the other parties in the transaction.
  5. e) A safe deposit box opened on behalf of a commercial entity when the business activity of the customer is unknown or such activity does not appear to justify the use of a safe deposit box.

Funds Transfers

  1. a) A large number of incoming or outgoing funds transfers take place through a business account, and there appears to be no logical business or other economic purpose for the transfers, particularly when this activity involves higher-risk locations.
  2. b) Funds transfers are ordered in small amounts in an apparent effort to avoid triggering identification or reporting requirements.
  3. c) Funds transfers do not include information on the originator, or the person on whose behalf the transaction is conducted, when the inclusion of such information would be expected.
  4. d) Multiple personal and business accounts or the accounts of nonprofit organizations or charities are used to collect and funnel funds to a small number of foreign beneficiaries.
  5. e) Foreign exchange transactions are performed on behalf of a customer by a third party, followed by funds transfers to locations having no apparent business connection with the customer or to higher-risk countries.

Other Transactions That Appear Unusual or Suspicious

  1. a) Transactions involving foreign currency exchanges are followed within a short time by funds transfers to higher-risk locations.
  2. b) Multiple accounts are used to collect and funnel funds to a small number of foreign beneficiaries, both persons and businesses, particularly in higher-risk locations.
  3. c) A customer obtains a credit instrument or engages in commercial financial transactions involving the movement of funds to or from higher-risk locations when there appear to be no logical business reasons for dealing with those locations.
  4. d) Banks from higher-risk locations open accounts.
  5. e) Funds are sent or received via international transfers from or to higher risk locations.
  6. f) Insurance policy loans or policy surrender values that are subject to a substantial surrender charge.
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