Legal documentation

Key Information Documents

The following key information documents for each product type we offer are aimed to help you better understand our products, including the risks, costs and examples of potential gains and losses associated with them, and any other relevant information.

Risk Disclosure

This website has been produced by Match Securities (‘MS’) which is authorised and regulated by the Financial Services Commission [Licence No. GB21026301].

Warning: demo platform

The virtual funds available via your demo platform allow you to familiarise yourself with our trading platforms, and any gains or losses incurred while trading in a demo environment are not suggestive of results you may achieve when trading on a live platform. Access to your demo platform is only valid for 30 days, which will be terminated thereafter, however you will be able to trade in a live environment once your account has been opened and funded.

Warning: internet trading risks

There are risks associated with using an internet trading system. These include, but are not limited to: error in hardware, software, internet connection or any force majeure (i.e. flood; extraordinary weather condition; earthquake, or other act of God; fire; war; insurrection; riot; labour dispute; accident; action of government; communications or power failure; or equipment or software malfunction). MS or our affiliates (‘we’, ‘our’ or ‘us’) cannot control the signal power, its reception or routing via internet, configuration of your equipment or reliability of its connection. Therefore, we cannot be responsible for any communication failure, distortion or delay (although we will attempt to minimise the possibility of system failure). Please call us immediately if you are unable to access your account and we will execute your orders over the phone. Please note for security reasons you will need to go through our identification process before we accept any orders from you. If we are unable to identify you we will not be able to carry out your orders.

Warning: risks of margin trading

Trading in currency and bullion, particularly margin trading, involves the potential for profit as well as the risk of loss. This may vastly exceed the amount of money you commit to any trade or transaction. Movements in the price of currency or bullion rates are influenced by a variety of factors of global origin, many of which are unpredictable. Violent movements in the price of foreign exchange or bullion rates may result in action by the market. As a result you may be unable to settle adverse trades. Our staff are unable to guarantee the accuracy of any market predictions (should they offer such predictions) and cannot guarantee a maximum loss that you may suffer.

Except where noted otherwise, all material on the website (the “Site”) is our copyright with all rights reserved. No part of the materials on this Site, including but not limited to the text, graphics and html code, may be reproduced or transmitted in any form by any means without our prior written permission.

Your Use of the Site

You may download materials from this Site for non-commercial and personal use only, provided that the intellectual property rights or other proprietary notices remain unchanged and visible. No right or interest in any downloaded materials is transferred to you as a result of any such downloading. You agree that you will not otherwise copy, modify, display, distribute, sell or transmit any material on the Site in any manner without our prior written permission. Furthermore, you shall not, under any circumstances, use the Site for any purpose that is prohibited by these terms and conditions or any applicable laws. This website has been produced by MS which is authorised and regulated by the Financial Services Commission [Licence No. GB21026301].

Key Information Documents

The information you provided on your Match Securities account application indicates one or more of the following:

You have less than six months prior experience self-trading margined CFD and Currency products;
Your annual income is less than $25,000.00 USD (or currency equivalent);
Your liquid net worth is less than $10,000 USD (or currency equivalent); or
You are under 21 or over 65 years

We need to inform you that trading in CFD/Currency may not be appropriate for you. Such trading carries a high degree of risk and may result in losses greater than your initial deposit. MS provides an execution-only service to its clients and you will need to rely upon your own skill and judgement when trading these markets.

By opening an account with us, we assume that you have read, understood and accepted this warning, you agree that one or more of the below statements apply to you.

Attitude to risk and investment objectives:

You understand the risks of CFD/Currency trading and you confirm that you have the necessary knowledge and expertise to fully appreciate the risks.
You understand that CFD/Currency trading is highly leveraged and that you could lose your entire capital.
You are able to assess the risks involved and deem them appropriate for you. Investing experience and expertise
You are under 21 or over 65 years
You have gained sufficient experience and expertise in dealing in shares and other similar investment instruments, and you understand the complexities of CFD/Currency
You have attended relevant courses or seminars on CFD/Currency trading that have given you sufficient knowledge and expertise to assess the risks that may arise from.

MS offers demo accounts where you can practice trading against realistic Forex prices and we would encourage you to try this before trading with real money.

Conflicts of Interest Policy

Introduction

As a financial institution, Match Securities (hereafter “Match Securities”) faces actual and potential conflicts of interest from time to time. By identifying the existing and potential conflicts of interest, Match Securities will take all sufficient steps to establish, implement and maintain an effective Conflicts of Interest Policy to prevent or mitigate any risk that may damage the interests of our clients.

This statement discloses the conflicts of interest that you, as an existing or potential customer, might face when engaging in business dealings with Match Securities; the laws and regulations subject to conflicts of interest that Match Securities is required to comply with; and the Policy Match Securities adopts for the aim of preventing and managing the conflicts of interest.

Laws and Regulations

Match Securities is guided by the Companies Act 2001, the Financial Services Act 2007 (“FSA”), the Financial Intelligence and Anti-Money Laundering Act 2002 (“FIAMLA”), the Financial Intelligence and Anti-Money Laundering Regulations 2018, the AML and CFT Handbook, the Securities Act 2005, the Securities (Licensing) Rules 2007, the Data Protection Act 2017, the Competency Standards and the Code of Business Conduct.

Identification of Conflicts

A conflict of interest may arise where our interests or those of a member of our staff could conflict with a duty we have to a client. Part of staff training in this area is to recognise and remediate or escalate potential conflicts in the course of business. However, to help identify potential conflicts of interest, we have considered a number of areas. The following services and activities have the possibility to give rise to a conflict of interest and potentially, but not necessarily, be detrimental to the interests of our clients:

Match Securities may receive or will receive from a person other than the customer an inducement, other than standard commission or fee in relation to a service provided to the customer;
Match Securities may carry on the same business as the customer;
Match Securities is likely to make a financial gain, or avoid a financial loss, at the expense of the customer;
Match Securities may have a financial or other incentive to favour the interest of another customer(s) over the interests of the customer;
Match Securities may have an interest in the outcome of a service provided to or a transaction carried out on behalf of the customer, which is different from the customer’s interest in that outcome; or
Match Securities may have an interest in maximising trading volumes in order to increase commission revenue, which opposes the client’s objective to minimise transaction costs.

These are general potential conflicts that will be managed in accordance with this Conflicts of Interest Policy. Any additional conflicts will be recorded in the Register of Conflicts of Interest.

Management of Potential Conflicts Identified

Match Securities keeps records of the business activities or services carried on by us (or which are carried on our behalf) so that we can identify any conflict that might arise that would have a material risk of damage to the interests of our customers.

Employees are required to report specific potential conflicts of interest in writing to the Compliance department as soon as practicable. To identify the potential conflicts of interest that require reporting, employees take into account whether Match Securities or its employee:

could be in a position where the ability to act in a client’s best interests is potentially affected by any other matter
is aware of any situation where the interest of one client may conflict with those of another
is likely to make a profit or avoid a loss at the expense of the client
has an incentive, financial or otherwise, to favour the interest of one client or group of clients over another;

Trading for Group Companies

Other sister companies within the Match Securities group may hold accounts with Match Securities. Such accounts will be treated the same as any other client accounts with regard to the priority and execution of orders.

Personal Account Dealing

Match Securities has policies and procedures to monitor employees’ personal account dealing. Match Securities requires its employees to apply good judgement and act with integrity, taking all appropriate steps to avoid personal Conflicts in their personal account dealings and proactively escalate personal conflicts that do arise.

Best Execution

Match Securities Execution Policy is created to ensure that when executing orders, Match Securities acts in the client’s best interest. This applies irrespective of any potential or existing conflicts of interest and reduces the risk of Match Securities acting in favour of itself or a client over another client.

Managing Conflicts of Interest

Match Securities maintains a register of the potential conflicts of interests that have been identified. The records contained within the register allow the appropriate management of specific conflicts, whilst information on the management of general type of conflicts of interest is recorded in this Policy.

Review

Match Securities is devoted to provide more services and products to meet our customers’ demand. At the same time, Match Securities frequently reviews and assesses our conflicts of interest policy so that it can ensure the adequacy of such policy in compliance with our regulatory obligations.

Match Securities Policy

As required by law, Match Securities implements and maintains an effective Conflicts of Interest Policy for the aim of preventing conflicts of interest or potential conflicts of interest from causing a material risk of damage to the interests of customers.

Match Securities conflicts of interest policy adopts procedures and measures to manage and control the conflicts of interest identified, including segregation of duties and responsibilities; separate supervision of relevant persons; Personal Account Dealing policy, Gifts and Inducement policy, public interest disclosure policy; acting in the best interest of the clients; and in some cases declining to act for a customer or potential customer.

Match Securities also maintains and operates effective product governance arrangements to ensure that our products meet the needs of our clients and remain appropriate at all times.

Disclosure

Whilst Match Securities is devoted to implement and maintain our conflicts of interest policy, in some cases, such policy might not be sufficient to prevent risks of damage to the interest of a customer. In such a case, as a solution of last resort, Match Securities shall disclose the general nature and sources of conflicts of interest to the customer so that enables the customer to make an informed decision whether to proceed with the transaction in question.

Execution Policy

Overview of Best Execution requirement

Match Securities is authorised and regulated by the Mauritius Financial Services Commission (“FSC”) and we are obliged to act in our clients’ best interests and, other than in certain circumstances described below, where we execute or arrange the execution of orders, we are required to take all sufficient steps to obtain the best possible result for our clients (known as delivering ‘’best execution’’) and to establish and implement an order execution policy and related procedures to allow us to do so.

We have internal policies and procedures governing how we will act when we execute orders for our clients. We continually strive to provide the best possible level of service to all of our clients. Consequently, our policies and procedures are under constant review and may be revised at any time without prior notice.

Execution Venues

We deal with clients as principal and not as agent. This means that we are the execution venue and so clients transact directly with us and not on an exchange or another external market. Trades that clients undertake with us are non-transferable, which means that if a client opens a position with us, they must close the position with us

Execution Factors

We apply the following execution factors:

The Price – While we always aim to act in the best interest of our clients we cannot guarantee that the price at which we permit clients to execute a trade will be better than elsewhere. Prices on leveraged products are sourced from independent third-party providers who supply liquidity to the market.

The Cost – We add a mark-up to the prices from our liquidity providers and publish the ‘’marked-up’’ prices that include our income. We will base the closing price of the relevant instrument for the purposes of margin requirements and any balance credits/debits.

Speed and Likelihood of Execution – Trades may be executed on our platform or by telephone or other forms of communication. Screen and telephone trades are subject to liquidity and market conditions and so we cannot guarantee that a client’s trade will be open or closed instantaneously. The speed and likelihood of execution are also subject to software, hardware and telecom/data line use and we cannot guarantee that this will not be free of interruption or suspension.

Quantity – We set the minimum and maximum quantity that clients may place on a trade. This is influenced by market conditions and firm policy and changes from time to time.

Execution Criteria

When arranging a transaction or executing a client order, we will take into account the following criteria for determining the relative importance of the execution factors referred to above:

Dealing with Client Orders

Subject to market conditions a client order will be executed at our price or very close to our price. The price clients receive at execution is not guaranteed as the market may widen, become very volatile or even gap. There is no guarantee that a client’s order will be executed.

Specific Instructions

If clients have any particular requirements as to how we act when dealing with them, then they must let us know and we will do our best to accommodate them. However, clients should be aware that where they give us specific instructions that are incompatible with our normal order execution policies and procedures, their specific instructions will take precedence.

This may result in a different outcome that would have been achieved had our normal policies and procedures been followed and, for Retail Clients and Professional Clients, we will not be required to deliver the best execution in respect of the aspects of a client order which are covered by their specific instructions.

[Our normal policies and procedures take account of the costs that we would incur in transacting business. Transactions may be subject to additional charges. Where this applies, we will notify clients of the applicable charges before their order is executed.]

Our Duty of Best Execution

When executing orders for all the instruments we offer, we will take all sufficient steps to achieve the best possible outcome taking into account our Execution Policy and any specific instructions received from our clients.

Our policy cannot provide a guarantee, however, that the price at which we permit our customers to execute an order will always be better than one which is or might have been available elsewhere.

Achieving ‘Best Execution’

To achieve the best possible result, we will take a number of factors into account, including price, costs, speed of execution, the likelihood of execution and settlement, size, nature of the order or any other factors relevant to the execution of that order.

We will use our own commercial experience and judgment in determining the relative importance of these factors, however, we have rated prices as the most important factor for obtaining the best possible result.

We will review this policy at regular intervals and will monitor and review external pricing sources. We will give clients 14 days written notice where we make any change to this policy and the client disclosure relating to this policy on our website.

Scalping Policy

Scalping is a form of trading which we consider to be an unacceptable practice and a type of market abuse. Scalping might be wrongfully used to return profits by taking advantage of internet latencies, delayed prices, off market/bad prices or through high volumes of transactions targeting tick fluctuations (rather than price movements) where trades are opened and closed very quickly.

If, in our sole discretion, we consider you to have partaken in this form of scalping, it will be considered as a breach of our Terms and Conditions and as such we reserve the right to:

Make immediate changes to your account, including but not limited to, the liquidity provided by us and the spread quoted.
Immediately terminate your account and your access to our servers.
Void any trade (i.e., treat the trade as if the trade had never taken place) which was part of any Scalping activity.
Close any trade, which was part of any Scalping activity, on the basis of our current market price.

We can exercise the above rights even if you have entered into (or refrained from entering into) such arrangements with third parties relating to the relevant trade and even if you may suffer a trading loss as a result.

Please be advised that all trading activity is monitored closely, and in the event it is identified that you are Scalping we reserve the right to close your account with immediate effect.

Treating Customers Fairly

This statement details Match Securities’ policy on paying due regard to the interests of its customers and treating them fairly.

We recognise that fair treatment of our customers is about adding value to the service we offer. To ensure that we are continuously providing our customers with a valuable service we aspire to:

Our Commitment to you

To ensure the products that we offer are appropriate for you and are consistent with your needs;
To provide timely and best execution at all times;
To maintain a superior level of system and platform availability;
To ensure all staff implement TCF in their daily business activities;
To ensure your complaints are assessed fairly and impartially and handled professionally should you ever become unhappy with our service;
To encourage staff to recommend improvements to service following customer complaints;
To ensure that promotional material is clear, compliant and appropriately targeted;
To provide accurate, complete and timely communications;
To ask for and listen to your feedback and place your interests first.

Cookies

We respect your privacy and are committed to full transparency about what cookies that are enabled on our site and how you can easily manage these.

What are Cookies?

Cookies are tiny pieces of information stored as text files on your computer or device when you visit certain web pages. They are used by web developers to help users navigate their websites efficiently. Cookies do not harm your computer or device. They are not programmes, cannot execute code, deliver viruses or extract personal information from your computer.

If you have cookies enabled on your browser, a cookie will be stored on the device, on each subsequent page you visit, and sent back to the web server by the browser. Cookies are designed to hold a very small amount of data specific to a user and the website they are using.

Match Securities do not store any identifiable personal information within cookies such as credit card or bank details.

Most sites on the internet use cookies and their purpose is to:

Match Securities Cookies Policy

We are using three types of cookies on our site:

1. Functional Cookies are required for the smooth running of the website. If these are disabled you won’t be able to access key pages of the site.

2. Analytical and Performance Cookies collect anonymous information about how visitors use the site. They help us understand your preferences so we can offer you a better service.

3. Marketing Cookies collect information about your browsing habits in order to present you with more relevant content and adverts based on your browsing activity.

Functional Cookies

These cookies are essential for the proper functioning of the website. They allow the website to remember choices you make while browsing the site such as your language preferences. They remember user choices and enable the personalisation of content. These cookies are anonymous and do not track your browsing activity on other websites. If they are disabled you won’t be able to access key pages of the site.

Type of Cookie	Source of Cookie	Function
Referral ID	Match Securities	Identifies the referral ID, and allows the website to determine if the registering clients came from a referral.
Campaign	Match Securities	Allows the website to determine if the registering clients should be under a campaign.
IP Address	Match Securities	It identifies the client’s IP Address, and allows the website to determine the location country.
Country	Match Securities	Identifies the client’s location country, and allows the website to display the appropriate content to the client.
Country Code (2-ISO)	Match Securities	Identifies the client’s location country code, and allows the website to display the appropriate content to the client.
Chatra Functional	Third Party	This is used to support our Live Chat function. A random token is assigned to each user. No personal data is recorded.

Analytical and Performance Cookies

These cookies collect anonymous information about how visitors use the site. These cookies do not collect information that identifies you. All collected information is aggregated and as such completely anonymous. Their unique purpose is to help us understand user preferences and their interests so we can offer a better browsing experience.

Some of the systems we use to track web traffic and site usage are provided by third-party companies such as Google.

Type of Cookie	Source of Cookie	Function
Google Analytics	Third Party	Registers a unique ID that is used to generate statistical data on how the visitor uses the website.
Google Analytics Throttle	Third Party	Used by Google Analytics to throttle request rate.

Marketing Cookies

The purpose of this type of cookie is to collect information about your browsing habits to provide advertising that is more relevant to you. The cookies remember which websites you have visited and are usually placed by third party companies with our permission. They serve to limit the number of times you see the same advertisement as well as to measure the effectiveness of advertising campaigns.

Type of Cookie	Source of Cookie	Function
Google Analytics	Third Party	Used to send data to Google Analytics about the visitor’s device and behaviour. Tracks the visitor across devices and marketing channels.
Facebook Ads	Third Party	Used by Facebook to deliver a series of advertisement products such as real time bidding from third party advertisers.
Facebook Impression	Third Party	Used by Facebook to register impression on pages with the Facebook login button.
Facebook Pixel	Third Party	Used by Facebook to see how many people take action on ads and which Facebook Ad led to a conversion.
LinkedIn	Third Party	Used by the social networking service, LinkedIn, for tracking the use of embedded services.
Twitter	Third Party	Used by the social networking service, Twitter, for tracking the use of embedded services.

Cookie Management

Cookies Management

You can manage cookies by modifying your web browser settings on your computer or tablet. For mobile phones you might have to check you phone user guide.

Google Chrome

Click the menu icon in the browser’s toolbar
Select ‘Settings’
Click ‘Show advanced settings’
Choose ‘Privacy’ and then ‘Content settings’
To enable cookies, in the ‘Cookies’ section, tick ‘Allow local data to be set (recommended)’. This option enables both first and third-party cookies.
To allow only first-party cookies, enable ‘Block all third-party cookies without exception’
To disable cookies, select ‘Block sites from setting any data’

There are several levels of cookie activation in Chrome. To find out more, click here.

Mozilla Firefox

Click on the menu button at the top of the browser (or ‘Tools’ if using Windows XP)
Select ‘Options’
Click ‘Privacy’
Set ‘Firefox will’ to ‘Use custom settings for history’
Select ‘Accept cookies from sites’ and your preferred treatment of third-party cookies
To disable cookies, remove the check mark from ‘Accept cookies from sites’
Click ‘OK’ to close the window

There are several levels of cookie activation in Firefox. For more information, click here.

Opera

In the browser’s menu, select ‘Settings’
Under cookies, tick ‘Allow local data to be set (recommended)’
To disable cookies, select ‘Block sites from setting any data’
To stop only third-party cookies, select ‘Block third-party cookies and site data’

There are several levels of cookie activation in Opera. For more information, click here.

Safari

There are several levels of cookie activation in Safari. For more information, click here.

Microsoft Internet Explorer

Versions 9-11

Select ‘Tools’ from the top of your browser
Choose ‘Internet Options’
Navigate to the ‘Privacy’ tab
Click ‘Advanced’. Here you can choose to ‘Accept’ ‘Block’ or ‘Prompt’ both first and third-party cookies
To disable cookies, tick ‘Block’

There are several levels of cookie activation in Internet Explorer. For more information, click here.

Microsoft Edge

There are several levels of cookie activation in Microsoft Edge. For more information, click here.

You can also visit independent information providers such as www.allaboutcookies.org. It is possible to simply block third-party cookies.

If you have any questions regarding our privacy policy or security measures, please email [email protected]

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