1.1. These Account Specific Terms and Conditions apply to the Magnr Trading Account. They are additional to, and should be read together with the General Terms and Conditions for Magnr Trading accounts and Savings accounts. If there is any inconsistency between them, these Account Specific Terms and Conditions override the Magnr General Terms and Conditions to the extent of the inconsistency.
1.2. “Account”, when used in these Trading Account Terms and Conditions, means the Trading Account.
1.3. You may only have one Account.
1.4. The Account can be opened with any minimum amount.
2.1. This is a non-interest bearing account.
3. Service Performance
3.1. Magnr denies all liability for the timely operation of the Website when used within an Internet environment, where you or a third party is providing the computer equipment upon which the product is depend upon for any part of its functionality.
3.2. By using this service you confirm your understanding that the timely operation of the Internet and the World Wide Web is governed by constraints beyond the control of Magnr . You accept that Magnr is not liable for any perceived slow operation of the Website.
3.3. By using this service you accept that Magnr accepts no liability for losses caused by issues arising from third party dependencies. This includes but is not limited to deposit confirmation delays, the liquidation of trades due to a lack of funds and delays in the withdrawal of funds.
3.4. By using this service you accept that all trade executions placed are final and irreversible. Using the service you accept that trades are placed out to market on an at best price basis.
3.5. By using this service you accept that Magnr reserves the right to liquidate any trades at any time regardless of the profit or loss position.
3.6. By using this service you accept that, where a position auto-liquidate trigger is used (defined as but not limited to: Stop Loss, Trailing Stop, Sell Limit, Buy Limit), the price threshold defined must be sustained for a minimum of 2 seconds at the exchange in order for the corresponding price trigger to take effect.
4. Limitation of Liability
4.1. In no event will Magnr, or its suppliers or licensors, be liable with respect to any subject matter of this agreement under any contract, negligence, strict liability or other legal or equitable theory for: (i) any special, incidental or consequential damages; (ii) the cost of procurement or substitute products or services; (iii) for interruption of use or loss or corruption of data; or (iv) for any amounts that exceed the fees paid by you to Magnr under this agreement during the twelve (12) month period prior to the cause of action. Magnr shall have no liability for any failure or delay due to matters beyond their reasonable control. The foregoing shall not apply to the extent prohibited by applicable law.
5. Funding Charges
5.1. Trades placed through Magnr are subject to daily funding charges. The most up-to-date charges are shown here, however, these charges are subject to change without notice.
6.1. All calculations performed by the Magnr trading engine and as verified by Magnr are final. Magnr does not warrant that the use of the Website will be uninterrupted or error free.
7. Governing Law
7.1. The Terms are governed by and construed in accordance with English law. You agree to the exclusive jurisdiction of the English courts.
Last updated: October 2016