Introducing Broker Agreement

  1. Definitions and Interpretations

    1. In this IB Agreement the following words shall have the corresponding meanings:

    2. ADVICE

      “Advice” means, for the purposes of this Introducing Broker Agreement, any recommendation, guidance, or proposal of a financial nature furnished, by any means or medium, to any Clients or group of Clients in respect of an OTC Derivative or any other financial product (as defined in the Financial Advisory and Intermediary Services Act, 2002 (“FAIS”) (“financial products”), but does not include factual Advice given by an Introducing Broker:

      • on the procedure for entering into a transaction in respect of any financial product.
      • in relation to the description of a financial product.
      • in the form of objective information about a particular financial product; or
      • by the display or distribution of promotional material.
    3. ACCOUNT

      An account that is established for a Client introduced to iFX Brokers™ Holdings (Pty) Ltd by the Introducing Broker.

    4. APPLICABLE REGULATIONS

      The FAIS Act, including all applicable board notices.
      Any other rules of a relevant regulatory authority or any other Applicable Laws of a relevant market and all other applicable laws, rules, and regulations as in force from time to time in any jurisdiction.

    5. CONFIDENTIAL INFORMATION

      means any data or information of iFX Brokers Holdings (Pty) Ltd. and/or any of its Leads and Clients (including without limitation, your Clients) on MT4 and MT5 or otherwise in whatsoever medium or form whether oral, written, or electronic data or information, including but not limited to, trading activities on MT4 and MT5, including data or information regarding OTC derivatives, research, developments, inventions, processes, plans and financial information and which is not in the public domain.

    6. CLIENT

      Client means a person who concludes a Client Agreement with iFX Brokers, who opens a real Trading Account with iFX Brokers and who has been accepted and remains accepted as such by iFX Brokers for the use of MT4 and/or MT5.

    7. CLIENT AGREEMENT

      Client Agreement means the Contracts for Difference Clients Terms and Conditions published on the Website and concluded between every Clients and iFX Brokers granting the Clients the right to open a real Trading Account on MT4 and/or MT5 on the terms and conditions set out therein.

    8. COMPANY

      iFX Brokers Holdings (Pty) Ltd., a globally operating brand, inclusive of any of our affiliated companies.

    9. IB AGREEMENT

      This IB Agreement together with all schedules, written appendices, annexures, policies, or amendments attached to it from time to time.

    10. FAIS ACT

      The Financial Advisory and Intermediary Services Act No 37 of 2002 as amended.

    11. FAIS OMBUD

      The office of the Ombud for Financial Services Providers.

    12. FIA

      The Financial Institutions (Protection of Funds) Act 28 of 2001, as amended.

    13. FICA

      The Financial Intelligence Centre Act No 38 of 200

    14. FMA

      The Financial Markets Act No 19 of 2012, as amended.

    15. FRAUDULENT ACTIVITIES

      Fraudulent Activities means without limitation any illegal and/or unauthorized activities or activities in breach of this Introducing Broker Agreement by you or your Traders on MT4 and/or MT5 including but not limited to activities intended to defraud, cause damage to or harm or injure iFX Brokers and/or any other Clients in any manner whatsoever regardless of whether or not it actually causes harm to iFX Brokers and/or a Clients, including but not limited to, false or misleading advertisements, misrepresentation, provision of false information, spam, money laundering and illicit deposits by illicit means and theft.

    16. FSCA

      The Financial Sector Conduct Authority or any successor organisation or authority for the time being responsible for the regulation of financial service providers in the Republic of South Africa.

    17. iFX WALLET

      Means your iFX Wallet assigned to you upon account opening, and to which you will collect your Referral Fee Payments.

    18. IMMEDIATE FAMILY

      Immediate family refer to your spouse, parents, stepparents, foster parents, father-in-law, mother-in-law, children, stepchildren, foster children, sons-in-law, daughters-in-law, grandparents, grandchildren, brothers, sisters, brothers-in-law, sisters-in-law, aunts, uncles, nieces, nephews, and first cousins.

    19. INTRODUCING BROKER

      Introducing Broker means you, a Client of iFX Brokers, who concluded an Introducing Broker Agreement with iFX Brokers and who remains compliant with the provisions thereof for the purposes as set out in this Introducing Broker Agreement.

    20. INACTIVE IB ACCOUNT:

      An Inactive IB Account is an IB Account which has not received new approved referrals for a period of 60(sixty) consecutive days.

    21. IP ADDRESS

      An IP address refer to the unique string of characters that identifies each computer / electronic device using the Internet Protocol to communicate over a network.

    22. MARKETING MATERIAL

      Marketing Material means any factual, objective information and promotional material and methods on selected social media, in whatsoever form authorized by iFX Brokers on its Website or the Portal, from time to time which may be used by you, the Introducing Broker, to exercise your referral right to introduce leads and potential Clients to iFX Brokers.

    23. myiFXPARTNERS

      myiFXPartners refer to a secure cloud based self-service portal accessible via the Company’s Website. myiFXPartners provide full access to reporting, marketing, and Referral Fee management.

    24. REFERRAL FEE

      Referral Fee means the amounts due to you in your capacity as an Introducing Broker, payable by iFX Brokers as Referral Fees in respect of every trading transaction concluded by your Clients on their trading accounts.

    25. PRIVACY POLICY

      Privacy Policy means the iFX Brokers Privacy Policy which can be downloaded from the Company’s Website.

    26. REFERRAL FEE POLICY

      The Company’s Referral Fee Policy details the terms and conditions under which Referral Fees are paid.

    27. RULES

      Laws, articles, regulations, directives, procedures, and customs as in force from time to time.

    28. SERVICES

      The Services provided by us under this IB Agreement.

    29. WE (OUR, US)

      iFX Brokers™ Holdings (Pty) Ltd. is a globally operating brand

    30. WEBSITE

      www.iFXbrokers.com or any other Website of the Company’s trade names, as we may from time to time notify to you.

    31. YOU

      The IB (Introducing Broker)

    32. YOUR INFORMATION

      Any information that we receive from you or otherwise obtain which relates to you, your Account or our provision or your use of the Services.

    33. Any reference to an enactment is to that enactment as at the Date of Signature hereof and as amended or re-enacted from time to time.

    34. Any reference in this IB Agreement to “Date of Signature hereof” shall be read as meaning a reference to the date of which you commenced using the online myiFXPartners Services.

    35. If any provision in a definition is a substantive provision conferring rights or imposing obligations on any party, notwithstanding that it is only in the definition clause, effect shall be given to it as if it were a substantive provision in the body of the IB Agreement.

    36. Expressions defined in the IB Agreement shall bear the same meanings in schedules or annexures to this IB Agreement which do not themselves contain their own conflicting definitions.

    37. Where figures are referred to in numerals and in words, if there is any conflict between the two, the words shall prevail.

    38. Reference to day/s, month/s or year/s shall be construed as Gregorian calendar day/s, month/s or year/s.

    39. The expiration or termination of this IB Agreement shall not affect such of the provisions of this IB Agreement as expressly provide that they will operate after any such expiration or termination or which of necessity must continue to have effect after such expiration or termination, notwithstanding that the clauses themselves do not expressly provide for this.

    40. The words “include”, “including” and “in particular” shall be construed as being by way of example or emphasis only and shall not be construed as, nor shall they take effect as, limiting the generality of any preceding word/s;

    41. When any number of days is prescribed in this IB Agreement, same shall be reckoned exclusively of the first and inclusively of the last day unless the last day falls on a Saturday, Sunday or public holiday, in which case the last day shall be the next succeeding day which is not a Saturday, Sunday or Public Holiday.

  2. Introduction

    1. iFX Brokers™ is the trading name of iFX Brokers Holdings (Pty) Ltd, (Also referred to as “Company”, “us”, “we”, “our”, “ours”, “ourselves” as appropriate) Our distribution and market conduct regulated by the Financial Sector Conduct Authority (Authorized Financial Service Provider number 48021). The issuance of CFD’s is regulated by The Financial Markets Act, 2012. Our registered address is 79 Da Gama Road, Jeffreys Bay, 6330. Registration Number2017 | 027249 | 07. This Introducing Broker Agreement (the ‘“IB Agreement”) (including any Schedules), as amended from time to time, will govern all Transactions entered into between iFX Brokers™ Holdings (Pty) Ltd. and you (hereinafter referred to as “Introducing Broker”, “IB”, “Partner(s)”, “you”, “your”, “yours” and “yourself” as appropriate).

  3. Purpose of the IB Agreement

    1. The IB Agreement sets forth the terms and conditions of the relationship between iFX Brokers™ Holdings (Pty) Ltd and IB, granting you the right to introduce potential new Clients to iFX Brokers™ on a fully disclosed basis to trade in Contracts for Difference on the iFX Metatrader 4 and Metatrader 5 platforms, and receiving Referral Fees payable to you in accordance with the Company’s Introducing Broker Referral Fee Policy.

  4. Services of iFX Brokers™

      • At its sole discretion, iFX Brokers™ Holdings (Pty) Ltd shall open accounts to the Clients introduced by the IB, provided they meet its qualifications criteria and suitability standard.
      • iFX Brokers™ Holdings (Pty) Ltd agrees to accept instructions and orders from the Clients, and send statement of accounts and recaps to the Clients introduced by the IB.
      • iFX Brokers™ shall pay you Referral Fees under the conditions of this Introducing Broker Agreement.
      • Provide Services to the Clients introduced by the IB in accordance with the Terms and Conditions of iFX Brokers™ Holdings (Pty) Ltd Client Agreements™.
      • Granting the IB the right to use its iFX Brokers™ Holdings (Pty) Ltd trading software, forms, literature, newsletters, market reports and any other informational material provided by iFX Brokers™ Holdings (Pty) Ltd.
      • iFX Brokers™ reserves the right and will be entitled to perform control over your trading and referral activities in terms of the provisions of this Introducing Broker Agreement.
      • iFX Brokers™ reserves the right to monitor your referral and introducing activities relating to this Introducing Broker Agreement and may from time to time review your compliance and detect any deviations from your obligations.
      • iFX Brokers™ will execute its obligation to inform your Clients that you will receive Referral Fees in accordance with this Introducing Broker Agreement.
      • The Company reserves the right to terminate payment of Referral Fees as and when the Introducing Broker Agreement and/or Clients Agreement is cancelled, marked for inactivity or when your Trading Account is closed for any reason whatsoever.
  5. Referral Fee

    1. Referral Fees, also known as Rebates and incentives to the IB are paid in accordance with the prevailing rate as contained in The Company’s Referral Fee Policy. The Company reserve the right to amend pay-rates without prior notification.

    2. Your hereby agree that Referral Fee shall not be claimable nor payable if:

    3. Trades are generated from the same IP address as the IP Address used by the Introducing Broker;

    4. Self-trading (Whereas the Introducing Broker generate rebates for his/her own account;)

    5. Trading generated on immediate family’ accounts;

    6. Where an account shows inactivity for a period of 60 (Sixty) Days iFX Brokers™ Holdings (Pty) Ltd, reserve the right to cease payment of Referral Fees, without any notification to the IB. To reactivate a frozen account an IB would be required to apply to re-enter the myiFXPartners Scheme within 30 days of termination.

  6. Referral rights and obligations

    1. You hereby agree to introduce Clients who fully meet the qualifications and suitability standards of iFX Brokers™ Holdings (Pty) Ltd, on a fully disclosed basis.

    2. You agree to describe ™ Holdings (Pty) iFX Brokers fairly and accurately Ltd business and profile according to information provided by iFX Brokers™ Holdings (Pty) Ltd.

    3. You agree to maintain ethical practices, high standard of business, and always conduct business in such a manner to reflect favourably on iFX Brokers™ Holdings (Pty) Ltd.

    4. You acknowledge and agree to comply with any business-related instruction, terms or direction given by iFX Brokers™ Holdings (Pty) Ltd in relation to Introducing Broker services.

    5. You acknowledge and agree that as an IB, you will have access to certain personal information regarding your Clients and undertake to treat the personal information of your Clients strictly in accordance with the Company’s Privacy Policy.

    6. You agree to keep accurate written records of all Client Agreements, legal documents, diligence reports or any other information that may arise in the course of business with iFX Brokers™ Holdings (Pty) Ltd and provide iFX Brokers™ Holdings (Pty) Ltd with copies thereof upon request

    7. You agree to notify iFX Brokers™ Holdings (Pty) Ltd orally and in writing upon receipt of any Client complaints or pending or threatened action raised against iFX Brokers™ Holdings (Pty) Ltd in connection with any alleged errors, corrections, or any other matter on any Client account.

    8. You acknowledge and agree that under no circumstances whatsoever will you be an employee, representative, agent, partner, independent contractor, party to a joint-venture, associate or like relationship of or with iFX Brokers™.

    9. Every and all Clients you refer to iFX Brokers™ will become the Clients of iFX Brokers™ who will be the sole and exclusive owner of inter alia the database of your names and contact information and names and contact information of all your Clients.

    10. You agree that you will have no contractual or other relationship with your Clients in relation to the provision of Services herein contained.

    11. You acknowledge and agree that you do not provide investment, financial, legal, tax, regulatory or other similar Advice. Any material or information or other features which may be provided to the Clients via our Website, trading platforms, marketing, or training events or otherwise, is generic and shall not be treated as Advice suitable for the Clients or based on a consideration of the Clients’ personal circumstances.

    12. You acknowledge and agree not to accept or hold any Client money.

    13. You agree to not make any misrepresentation regarding iFX Brokers™, its business, Services, and licenses.

    14. You acknowledge and agree not to open any Real or Demo Trading Account on behalf of potential Clients, nor in the names of non-existent persons and/or using identity theft to do so.

    15. You agree to not charge any Clients or potential Clients a referral or service fee or offer any other compensation in whatsoever form to refer the potential Clients to iFX Brokers™, or to assist any Clients to open a Trading Account, or to assist or render a service to the Clients with any Advice regarding trading on the iFX Metatrader 4 or iFX Metatrader 5 platform.

    16. You acknowledge and agree that only registered Financial Services Providers who hold a licence under FAIS may render any financial Advice or intermediary Services to Clients, including trading Advice.

    17. You acknowledge and agree not to participate in any Fraudulent Activities in relation to iFX Brokers™ and your Clients.

  7. Relationship between the parties

    1. The IB is strictly not authorized to act as an agent, appointed representative or as any authority of iFX Brokers™ Holdings (Pty) Ltd. For avoidance of any doubt, The IB will not make any recommendation, give Advice, accept any commitment, or guarantee, or accept any responsibility on any matter whatsoever for or on and behalf of iFX Brokers™ Holdings (Pty) Ltd.

  8. Compliance, supervision, and due diligence

    1. The IB will diligently supervise the activities of its officers, employees, and sales team, including its agents, to comply with iFX Brokers™ Holdings (Pty) Ltd terms as well as local regulations.

    2. The IB must immediately notify iFX Brokers™ Holdings (Pty) Ltd in writing of any material claim against the IB, whether raised by a Client or local regulatory agency.

    3. The IB acknowledges that it may not accept funds from the Clients but must instruct the Clients to make payment directly to iFX Brokers™ Holdings (Pty) Ltd.

    4. The IB may not conduct discretionary trading on behalf of the Clients without a written and signed power of attorney from the Clients, and as a minimum a CAT II licence as regulated by the Financial Services Conduct Authority, which must be pre-approved by iFX Brokers™ Holdings (Pty) Ltd

    5. The IB may not give any Advice or trading recommendation to the Clients. For avoidance of any doubt, iFX Brokers™ Holdings (Pty) Ltd will not be liable to Clients or the IB for any Advice, decision or recommendation given or made by the IB to any Client, and the IB will indemnify iFX Brokers™ Holdings (Pty) Ltd from any loss or liability arising from any such Advice, recommendation, default or neglect by the IB in relation to any Client Services.

  9. Marketing and advertising

    1. The IB, under no circumstances, will use the iFX Brokers™ Holdings (Pty) Ltd name, logo, or Website, whether for information or educational purposes, except with the prior written authorisation of iFX Brokers™ Holdings (Pty) Ltd.

    2. The IB will not advertise or circulate to Clients or any other person any written information concerning iFX Brokers™ Holdings (Pty) Ltd without the prior written approval of iFX Brokers™ Holdings (Pty) Ltd.

  10. Proprietary property

    1. The IB acknowledges that the trading software provided by iFX Brokers™ Holdings (Pty) Ltd to the IB and the Clients introduced by the IB is simply to facilitate and enhance the efficiency of transacting business with iFX Brokers™ Holdings (Pty) Ltd.

    2. Upon termination of this IB Agreement by either party, the IB will return to iFX Brokers™ Holdings (Pty) Ltd all proprietary property such as equipment, software, and printed material.

  11. Confidentiality

    1. IB will keep confidential and will not disclose to anyone except with the prior written approval of iFX Brokers™ Holdings (Pty) Ltd, during and subsequent to the relationship with iFX Brokers™ Holdings (Pty) Ltd, all material information it receives during the course of business with iFX Brokers™ Holdings (Pty) Ltd, including but not limited to Client information, trade secrets, techniques, and other information relating to processes, strategies and future plans.

  12. Indemnifications

    1. The IB agrees to indemnify and hold iFX Brokers™ Holdings (Pty) Ltd harmless from all losses, liabilities, damages, expenses claim, proceedings and attorneys’ fees resulting from:

    2. Any breach by the IB of its duties under this IB Agreement.

    3. Any misrepresentation made by the IB herein.

    4. Any Client claims relating to any IB Agreement between the IB and the introduced Clients.

    5. Any deficits on Client accounts or the failure of any Client to meet its obligations.

    6. Any debts or obligations arising from the IB failing to comply with applicable local laws and regulations.

  13. Severability

    1. Any provision under this IB Agreement that becomes invalid shall be ineffective to the extent of such invalidity, without affecting the remaining provisions of this IB Agreement.

  14. Assignment

    1. iFX Brokers™ Holdings (Pty) Ltd may assign its rights or delegate its obligations under these Terms to a third party with written notice to the IB within 30 days of such assignment. IB grants iFX Brokers™ Holdings (Pty) Ltd the right to transfer this IB Agreement to any successor organisation. The IB is not allowed to assign any of its rights or duties under these Terms to any third party.

  15. Headings

    1. The paragraph headings in this IB Agreement are inserted for description purposes only and are not intended to limit the meaning of any of the Terms.

  16. Entire IB Agreement

    1. This and the attached Appendixes (Where applicable) between iFX Brokers™ Holdings (Pty) Ltd and IB constitute the entire IB Agreement between iFX Brokers™ Holdings (Pty) Ltd and IB. iFX Brokers™ Holdings (Pty) Ltd have made no representations or warranties other than those expressly provided within these Terms.

  17. Termination

    1. This IB Agreement may be terminated by either party upon seven days written notice to the other party. During the seven days, the Clients introduced by the IB shall be serviced by iFX Brokers™ Holdings (Pty) Ltd and may be assigned to another IB to carry the accounts and provide IB Services for the Clients. All commissions due to the IB up to the date of termination shall be paid to the IB upon clearance of any Client obligation and settlement of all pending Client transaction.

    2. iFX Brokers™ Holdings (Pty) Ltd may terminate this IB Agreement immediately by written notice to the IB in the event the IB does not comply with any of the following clauses:

      1. The IB does not comply with the terms set out in this IB Agreement

      2. The IB, in iFX Brokers™ Holdings (Pty) Ltd sole and reasonable opinion, provides inadequate service to Clients or ceases to provide service to Clients as set out in this IB Agreement.

      3. The IB is not in good financial standing and iFX Brokers™ Holdings (Pty) Ltd feels the Company is in process of liquidation, bankruptcy, or ceases meet its obligations.

      4. The IB’s clients’ trading is not in compliance to the Company’s trading policy

      5. The IB’s Clients is not acting in good faith towards the Company.

      6. The Company has reasonable proof that the IB is not acting in good faith towards the Company.

      7. The Company has reasonable proof that the IB is committing Referral Fee abuse.

      8. The IB has not introduced new Clients for 60 consecutive days or longer.

  18. Communication and notices

    1. Notices and any other communication may be transmitted to IB via email or the address on the IB application. All communications so sent by any of the above delivery methods shall be deemed transmitted by iFX Brokers™ Holdings (Pty) Ltd, whether received by the IB or not.

  19. No waiver or amendments

    1. No Terms of this IB Agreement may be waived or amended unless amendment is in writing and signed by both Client and an officer of iFX Brokers™ Holdings (Pty) Ltd. No oral or implied agreement to the contrary shall be recognisable.

  20. Force majeure

    1. IB agrees that iFX Brokers™ Holdings (Pty) Ltd will not be held liable for any costs, damages or losses caused by force majeure events, including but not limited to, government restrictions, exchange or market rulings, suspension or delay of trading, war, civil disturbances, earthquakes, strikes, equipment failure, communication line failure, system failure, unauthorized access, theft or any problem, technical or otherwise, which may prevent the IB or the Client introduced by the IB from entering or modifying an order or prevent iFX Brokers™ Holdings (Pty) Ltd from acting on an online instruction, or other events or conditions beyond iFX Brokers™ Holdings (Pty) Ltd control, as determined and at the sole discretion of iFX Brokers™ Holdings (Pty) Ltd.

    2. Should iFX Brokers™ be prevented from fulfilling any of its obligations to you in terms of this Introducing Broker Agreement as a result of any event of force majeure, then those obligations will be deemed to have been suspended to the extent that and for as long as iFX Brokers™ is so prevented from fulfilling them, provided that in the event of the force majeure event continues for more than thirty days after it has first occurred then iFX Brokers™ will be entitled (but not obliged) to terminate the Introducing Broker Agreement by notice to you.

  21. General

    1. IB acknowledges and confirms that it has read and understood the Terms in this IB Agreement and agrees on their terms and conditions.

    2. Any failure by iFX Brokers™ Holdings (Pty) Ltd to enforce its rights and remedies under these Terms shall not constitute a waiver of such right or remedy.

    3. iFX Brokers™ will under no circumstances be liable to you or any of your Clientss or any loss, damage or injury of whatsoever nature and howsoever arising., included but not limited to loss of profit, income, Referral Fees or other consequential or special damages due to but not limited to the loss of data or information, the temporary or permanent failure, disruption or malfunctioning of any software, hardware, the temporary or permanent failure, disruption, or malfunctioning of any software, hardware, communication facilities, the trading system, the Secure Clients Port and systems of or on the iFX Brokers Website.

  22. Governing law and jurisdiction

    1. Without prejudice to any rights, all actions, disputes, claims, demands or proceedings arising directly or indirectly in connection with, out of, or related to or from this IB Agreement, shall be held, at the sole discretion of iFX Brokers™ Holdings (Pty) Ltd, only in the courts whose seat is within South Africa. IB hereby specifically consents and submits to the jurisdiction of the SA courts. IB waives any claim that IB is not personally subject to the jurisdiction of any state or federal court located within South Africa or that the venue of any such suit, action or proceeding is improper or inconvenient.

    2. IB may bring no action arising out of the IB Agreement, regardless of form, more than three months after the cause of such action.

    3. The IB confirms that he/she has read and understood the terms of this IB Agreement and explicitly agrees by requesting, accepting, and using the myiFXPartners platform to be legally bound by its terms and conditions.

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