Terms &
conditions.
This page sets out the execution, counterparty and liquidity provision terms that form part of the JAFX client agreement. They are published here in full.
Who you contract with
When you open or close a position on the JAFX platform, your contract is with JAFX (PTY) LTD. JAFX is your counterparty on every position you hold. JAFX quotes the price, sets and calls margin, and controls close-out.
Who executes the trades
Your orders are not executed on an exchange. Each order you place is transmitted for execution to JAFX's liquidity provider:
Broctagon Prime Ltd
Cyprus Investment Firm authorised and regulated by the Cyprus Securities and
Exchange Commission (CySEC), CIF licence number 320/17
Registered in Cyprus under company number HE 360194
Registered office: Christou Samara 2, MORFO Court, 3rd Floor, Office 31,
Mesa Geitonia, 4001 Limassol, Cyprus
CySEC: www.cysec.gov.cy
Broctagon Prime Ltd is the entity that executes the trades corresponding to your positions.
What that means for you
Broctagon Prime Ltd has no contractual relationship with you. You are not its client. It owes you none of the duties an investment firm owes its own clients, and you have no claim against it in respect of your positions or your funds. Your claim is against JAFX (PTY) LTD alone.
JAFX is not authorised by the Cyprus Securities and Exchange Commission and is not covered by any Cyprus investor compensation arrangement. The Cyprus Investor Compensation Fund does not cover you.
How the price you see is formed
The prices shown on the JAFX platform are derived from the prices quoted to JAFX by Broctagon Prime Ltd. JAFX applies its own mark-up to those prices. That mark-up is included in the spread you pay and it is how JAFX is paid. It is not charged to you separately and it is not itemised on your statement.
Because JAFX sets the mark-up, the price you trade at is not the price at which the corresponding trade is executed with the liquidity provider. The difference is retained by JAFX.
Your funds
JAFX receives and holds your funds in a separate bank account designated for client funds, kept apart from JAFX's own money, in accordance with section 10 of the General Code of Conduct for Authorised Financial Services Providers and Representatives. Your funds are not held by Broctagon Prime Ltd.
See also our costs page, our risk warning, and our complaints procedure.