Terms and Conditions
BUSINESS AGREEMENT TERMS
* The account you will open with the authorized brokerage house and the
transactions to be made through this account will be carried out through the
* Leveraged assets and derivatives trading transactions are risky. Due to
the leverage effect, it should always be considered that trading with low
collateral may work in favor of the market as well as against it, and in
this sense, the leverage effect may provide you with high gains as well as
cause high losses. As a result of adverse price movements, you may lose all
of the money you have invested in the brokerage firm. Therefore, allocate
only the portion of your savings that you can afford to lose for these
transactions. Do not trust high returns promises.
* Leveraged asset trading and derivative transactions such as futures
contracts, stock market options, CFDs, over-the-counter currency options and
forward transactions carry a high degree of risk. The initial margin may be
small compared to the contract value of the derivative transaction; so
trades are “leveraged”. Therefore, a relatively small market movement will
have a proportionally greater impact on the funds you have or will have to
deposit. This can work in your favor as well as against you. Due to the
price movements, you may completely lose the initial margin amounts and the
collateral you have in your account to protect your position, or
* Authorized institutions may be making improvements in the personal rights
of their employees according to the transaction collateral amounts deposited
in the accounts of the customers they are responsible for, the increase in
these collateral amounts and similar criteria. Therefore, there may be a
conflict of interest between the Investment Institution employee and the
client. The Client should always consider this conflict of interest in his
communication with the Investment Institution employees.
* In leveraged asset and derivative instrument trading, the Investment
Institution is the counterparty to the transaction. With these transactions,
the Investment Institution is in the position of seller against the buyer
and buyer against the seller, and due to the nature of the service provided,
the cases where the customer incurs a loss will result in the Investment
Institution earning a profit.
* In leveraged asset and derivative instrument trading, you must have an
initial collateral to constitute the collateral for each position you have
opened or wish to open. Initial margin and maintenance margin will be
applied within the rates specified in the framework agreement you will make
with the Intermediary Institution, and if you fall below the maintenance
margin, the Intermediary Institution is authorized to close the positions in
* You should take into account that the information that the brokerage house
will convey to you regarding the transactions you will make and the
recommendations it will make may be incomplete and in need of
* It should be taken into account that the technical and fundamental
analysis to be made by the brokerage house personnel regarding leveraged
asset and derivative instrument trading may differ from person to person,
and that the predictions made in these analyzes may not come true.
* The order you have given regarding leveraged asset and derivative
instrument transactions may be canceled or the price at which the order will
be executed may be changed if the position of the Intermediary Institution
taken for hedging purposes at another institution regarding the said order
is canceled by the other party or its price changes.
* It should be known that in transactions made in non-TL currency, in
addition to the risks listed above, there is exchange rate risk, there may
be a loss of value in Turkish Lira due to currency fluctuations, governments
may restrict foreign capital and trading movements, additional and/or new
taxes may be imposed, and purchase and sale transactions may not be realized
* The parity prices and “spreads” offered to you in leveraged asset and
derivative instrument trading may not reflect the best price situation. You
should also check the prices of other institutions.
* You should consider that the brokerage house cannot guarantee that you
will not incur losses as a result of leveraged asset and derivative
instrument trading, that your loss will be kept under control, or that
additional collateral will be called in case of loss.
* Before starting the transactions, you should get confirmation from your
authorized institution about all commissions and other transaction fees that
you will be liable for. If the fees are not expressed in monetary terms, you
should request a written explanation with clear examples of how they will
* Stop Loss orders (conditional buy, conditional sell or stop loss) can be
executed at a price against the INVESTOR instead of the limit price
determined by the INVESTOR on the Electronic trading platform. It should be
taken into account that such orders may be executed at the current market
price at the moment when there is important news and data flow at the market
opening, and also in case of spread opening and / or price gaps that may
occur due to the decrease in liquidity.
* Your trades that are open on Friday evening when the markets are closing
may open with a negative value due to sudden price changes (GAP) when the
market reopens on Sunday, thus injuring you.
* In cases where the difference (spread) between the buying and selling
prices is widened, it should be known that even if you have taken the
reverse position of the open positions in your portfolio, the collateral you
have deposited may become insufficient and your positions may be liquidated
(closed by the system) by reaching the stop out level. Open positions cannot
be closed by reverse trading as in other markets. Taking a reverse position
will normally help you temporarily postpone the need for margin completion.
However, this should not be seen as a permanent remedy for the
sustainability of your transactions.
* Compatible with iphone, ipad, android etc. Considering that there may be
connection problems in transactions carried out on mobile trading platforms
and other electronic trading platforms, it is your responsibility to control
whether these transactions are reflected on the Electronic trading
* Orders transmitted on the electronic trading platform may not be realized
at the prices requested due to the sharp price movements that may occur in
the market, especially in periods when the liquidity in the market is low,
during the opening and closing hours of the markets, on the days and hours
when the domestic / foreign markets are on holidays, at the moments when
there is important news and data flow in the markets, or It should be known
that there may be changes in transaction prices due to the volatility that
may occur in case of an unusual development during the day, and this change
may be to your advantage or to your detriment.
* Kuveyt Menkul Degerler Ltd. by secondary parties in the individual
accounts of the investors. Even with the knowledge of the account owner
without permission, it is inappropriate for secondary parties to access the
account, and their transactions and transactions will be deemed invalid and
these transactions will be considered as unfair trades. Likewise, these
conditions are valid if the account is logged in from two different IP
* Leveraged asset and derivatives trading is not suitable for every
investor. Do not believe the advertisements and promises of high returns of
individuals and institutions that claim to make a lot of money from these
transactions and that you can too.
* Do not trust or give credit to third parties who introduce themselves as
Kuveyt Menkul Degerler Ltd.'s personnel. Your transactions are strictly
controlled by Kuveyt Menkul Degerler Ltd. Execute it through authorized
personnel of . Due to pecuniary and moral damages caused by persons who are
not employees of Kuveyt Menkul Degerler Ltd., Kuveyt Menkul Degerler Ltd.
will not accept any responsibility.
* If the position limit determined on account and firm basis by the Exchange
or Investment Institution where the derivative instrument is traded is
reached, the orders you will give, except for closing your position, may not
be executed in the market.
* When the price movements in the market develop against the Position you
have taken, your account may be designated as a 'risk account' by the
Exchange where the derivative instrument is traded. In this case, passive
order entry may not be possible.
* You can find detailed information on all kinds of fees, expenses, spreads
and commission amounts and/or rates regarding leveraged asset derivatives
trading at Kuveyt Menkul Degerler Ltd. on our Kuveyt Menkul Degerler Ltd.
website. Kuveyt Menkul Degerler Ltd. It does not accept physical cash from
the Customer under any circumstances. The guarantees to be sent by the
customer will be accepted through the bank via EFT, money order or virman.
Therefore, the Customer cannot give cash in hand to personnel or third
parties to be deposited into his account.
* Kuveyt Menkul Degerler Ltd.; reserves the right to change leverage
* Kuveyt Menkul Degerler Ltd.; reserves the right to change swap
* Kuveyt Menkul Degerler Ltd. Anyone who creates an account is deemed to
have accepted these terms and conditions.