General terms and conditions regulating the managed Forex Accounts

1 General Terms

The general terms listed below will have the following meaning, whether in singular or in plural form:

1.1 “Trade Quantity”- the number of base currency units indicated in the order
1.2 “Forex market”- a market, where convertible currencies are traded worldwide among financial institutions
1.3 “Minimum order”- the minimum amount of base currency allowed for trading. For the purposes of this Agreement, it is the amount of one unit base currency of the quoted currency pair
1.4 “Market order”- it is executed at the moment of placing at the current price (quote) of the respective currency pair.
1.5 “Quote/ price of market closing” - the price at 22:00h (21:00h on Friday) GMT, of the different types of currencies, every business day for the duration of the position, which quote is determined by LVM LTD to be accurate, respective and fair to the Client.
1.6 “Maximum drawdown”- the level of risk, accepted by the Client for the Managed Forex Account. It may vary from zero percent (0%) to one hundred percent (100%), where at zero the orders to the Client's account are put on hold, and at one hundred, the level of risk is the highest and corresponds to the risk, shown in the selected by the Client strategy for signal generation by the System
1.7 “Margin”- the guarantee amount into the Client's account, used for securing the open positions.
1.8 “Net profit”- the positive difference between the current account balance and the amount, initially deposited by the Client.
1.9 “Revaluation of an open position”- the daily credit or debit amount of the difference between the price(quote) of the trade execution and the price(quote) of market closing for the respective currency pair, applied to the Client's account in the base currency of the Account.
1.10 “The System”- a system of computer modelled automated strategies for generating signals for Forex trading, using different mathematical algorithms and technical analysis indicators, created and maintained by LVM LTD or by third parties.
1.11 “Managed Forex Account” or “Account”- the currency trading account in the name of the Client at LVM LTD. The client deposits funds into this account or withdraw funds from it, and LVM LTD performs execution of currency trades following the signals generated by the System.
1.12 “Spread”- the difference between the “bid” and “ask” price in the quote of the currency pair.
1.13 “Current balance”- the current account balance is calculated at any given moment, by adding to the account balance the revaluations of the results from opened currency positions and the accrued result from the closed trades for the day, reevaluated at the current market price, minus the margin amount, required for the opened positions.
1.14 “Third parties”- all parties other than LVM LTD, whose strategies are offered to the Client by LVM LTD.Section

2 Subject of the Agreement

2.1 Under this Agreement the Client requests and LVM LTD agrees to perform spot margin trade on currency pairs or CFDs on the Forex market on behalf of LVM LTD and at the Client's expense, with funds, which the Client keeps into his/her Managed Forex Account opened at LVM LTD.
2.2 Trading with funds from Clients’ Managed Forex Accounts is performed on the basis of signals generated by the System.
2.3 Trading with funds from the Managed Forex account will be performed only on the market, where only trades with currency pairs and CFDs shall be executed.
2.4 Upon the execution of this Agreement the Client opens a Managed Forex Account at LVM LTD, with a minimum account balance as specified below in this Agreement.
2.5 All gains or/and losses are instantly and automatically reflected into the Client’s account upon closing every trade. All rights and obligations, which LVM LTD acquires as a result of the trades under this Agreement, will be considered to be rights and obligations of the Client.

3 Term of the Agreement

3.1 This Agreement takes effect on the Commencement Date, but not prior to funding has been received into the Client’s Managed Forex Account to the amount not less than the required minimum, as defined in Art. 5.1. further below, for the Initial Term of one (1) year (hereinafter referred to as the Initial Term).
3.2 This Agreement remains in force for the Initial Term and shall continue for successive periods of one (1)year thereafter until terminated by either party giving to the other not less than fourteen (14) day prior written notice to expire on the last day of the Initial Term or thereafter on the last day of any successive one year term.

4 Rights and Responsibilities of the Parties

4.1 The Client has the right to:
- 4.1.1 Receive a complete and accurate statement of the inflow and/or outflow of funds into and/or from his/her Managed Forex Account. The statement is provided according to the terms of Section 8. of this Agreement.
- 4.1.2 Have real-time access through the website and trading platform of LVM LTD to the current balance of his/her Managed Forex Account
- 4.1.3 Show in Section 8 of this Agreement, the strategy he/she wishes to be used by the System for the management of the assets, deposited into the Account.
- 4.1.4 Withdraw funds from the Managed Forex Account according to Section 6. of this Agreement and only as long as it does not fall below the minimum balance of 5000 € or their equivalent in other currency, required to be available into the Account.
- 4.1.5 Deposit funds to the Managed Forex Account at any time.
- 4.1.6 Change the current maximum drawdown he/she is willing to accept for the Managed Forex Account, upon having his/her application approved by LVM LTD.
4.2 The Client is obliged:
- 4.2.1 Not to perform any management of the funds into the Account (except funding and withdrawing according to the procedure described in Section 6 of this Agreement) for the term of this Agreement.
- 4.2.2 To accept all profit/losses from trades executed according to the terms of this Agreement.
- 4.2.3 To pay all the fees and incurred costs within the proper time frame, as specified in this Agreement.
4.3 LVM LTD has the right to:
- 4.3.1 Manage the Client's funds in the Managed Forex Account according to the trading strategy selected by the Client.
- 4.3.2 Execute only non-cash spot trades on margin with currencies and CFDs on the market based on signals generated by the System.
- 4.3.4 To stop temporarily or fully the management of funds in the Managed Forex Account of the Client, when:
  - a) The Forex market is closed for trading;
  - b) Currency trading has been suspended for any reason;
  - c) There are force major circumstances, which make the trading in foreign currencies impossible for a certain period of time;
  - d) The market conditions are unfavourable for trading on the Forex market;
  - e) The funds for management in the Account are insufficient for the execution of spot margin trades in currencies or CFDs.
- 4.3.5 To manage the funds into the Client's Managed Forex Account in certain cases such as: a) Depositing and withdrawing funds into and from the Account (except in the case of closing the Account), b) Change in the maximum drawdown.
4.4 LVM LTD is obliged to:
- 4.4.1 Provide a statement of the methods and results from the management of the funds into the Managed Forex Account.
- 4.4.2 Provide the Client with access to the current balance of the Managed Forex Account through LVM LTD’s website or trading platform. This access is secured by an account number and password.

5 Specifics and Steps in the Execution of the Agreement

5.1 By signing this Agreement, the Client opens a Managed Forex Account with LVM LTD, with the minimum required deposit of 5000 € or their equivalent in GBP, EUR, CHF or JPY.
5.2 LVM LTD trades on its behalf and for the Managed Forex Account of the Client. All the other Client’s accounts at LVM LTD are not subject to this Agreement.
5.3 LVM LTD will manage the Client’s Forex Account using opening, closing and changing signals for currency and CFD positions, generated by the System. The Client selects a strategy which generates signals to be automatically followed by the System.
5.4 The orders and trades with currencies under this Agreement have a minimum volume of one lot of the base traded currency.
5.5 All orders executed through the System for the Account of the Client are a purchase or sale of a defined volume (quantity) of the base currency against the sale or purchase of the respective quantity of a second (counter - quoted) currency or CFD at the quoted by the liquidity providers of LVM LTD, which corresponds to the current price level of these currencies on the International Foreign Exchange Market.
5.6 The orders are executed electronically and only through the Managed Forex Account. All positive or negative exchange rate differences, as a result of all trades on margin, as well as some revaluation of current daily

6 Funds Deposit and Withdrawal

6.1 The Client can deposit funds to his/her Managed Forex Account via bank wire transfer to the bank accounts of LVM LTD, indicated on the website www.lvmexchange.com
6.2 The Client has to submit a prior request for the amount of money he/she wants to withdraw from his/her Managed Forex Account. The execution of the withdrawal request is carried out within the first five (5) days of the day the request has been made. LVM LTD transfers the requested amount for withdrawal (provided the minimum required amount for the Account has been maintained) to the bank account specified by the Client.
6.3 The Client cannot withdraw funds from his/her account if the Account balance falls below 5000 € or its equivalent in the account’s base currency as a result of the withdrawal without terminating the agreement.
6.4 The client accepts that the transferred funds has to be invested for a minimum period of 12 months. All gains can be withdrawn at any time after 30 days of the initial deposit.

7 Fees and Commissions

7.1 LVM LTD has the right to change at any time the fees and commissions it charges and collects from the Managed Forex Account for the execution of this Agreement. LVM LTD is obliged to notify the Client in writing prior to the change, when the latter is effective for the Client after 7 (seven) business days of the receipt of the above change notification. The Client has the right to terminate the Agreement within the term of the change notification, in case he/she does not accept these changes.
7.2 LVM LTD collects the interest rates, fees and commissions due by the Client under this Agreement, by charging the Client's Account
7.3 All payments, due by LVM LTD to the Client, are paid into his/her Account at LVM LTD
7.4 The client accepts that LVM LTD charges a performance fee of 25% on a high watermark basis which can be deducted from the account held with the company and a spread-mark-up of 0,2 PIP (0,002%).
7.5 LVM LTD does not demand any account-management-fee or execution-fee.

8 Statements and Reporting

LVM LTD prepares and releases a daily statement of the executed trades under this Agreement.This statement will be sent to the e-mail address specified by the Client at the end of each trading day if there was activity in the account.

9 Gerneral agreements

9.1 By signing this Agreement the Client declares that:
- 9.1.1 He/she will hold neither LVM LTD, nor its employees, managers, partners, or directors liable for the results of the limited management of his/her account. The previous sentence shall not be valid in the cases where there has been proved intentional or gross negligence of the respective person.
- 9.1.2 He/she agrees and accepts the fact that the limited management of the Account will be based on signals for opening, closing or changing of positions in currencies, generated by the System, using different mathematical algorithms and indicators of technical analysis - strategies, created and maintained by LVM LTD or third parties - as chosen by the Client.
- 9.1.3 He/she agrees and accepts the fact, that when technical means for the limited management of his/her Account are used the general risk of using computer systems exists. The Client agrees that this risk may include: hardware, software and/or communication errors/disruptions, loss of data and/or unauthorised interference by third parties.
- 9.1.4 He/she agrees and accepts the fact that with the limited management of his/her Account, LVM LTD acts as an intermediary as well as a counter party when executing orders, based on trading signals generated by the System or by third parties. In those cases, LVM LTD is not responsible for the timely and exact execution of the orders by third parties, as well as for any delays or price differences compared to LVM LTD's signals and quotes.
- 9.1.5 He/she agrees and accepts the fact that all orders are executed as “market” orders, regardless of the order types, which generate signals by the System.
- 9.1.6 He/she agrees and accepts the fact that due to the high volatility of the Forex market as well as the time necessary for the execution of trades, the execution price may not correspond to the price generated by the trading signal of the System.
- 9.1.7 He/she will not hold neither LVM LTD and/nor its employees, partners and/or directors liable for any inaccuracies, errors or losses that has resulted from the trading strategies developed by third parties, if the Client has chosen such strategies.
- 9.1.8 He/she agrees and accepts the fact that trading currencies on the Forex market is a highly risky activity and that the individual who does not understand the risk associated with this kind of trading and is not prepared to accept the risk, should not sign this Agreement.
- 9.1.9 He/she agrees that the available funds in the Managed Forex Account may be lost partially as a result of the limited account’s management talking into account the maximum drawdown specified by the client which LVM LTD provides subject to the terms and conditions of this Agreement. The System will initiate a closure of all open positions and discontinues further trading if the maximum drawdown level is reached thus limiting the losses.
- 9.1.10 He/she agrees and understands that if funds in the Account fall below the minimum of 5000 € or its equivalent in the base currency of the account, as a result of funds withdrawal by the Client, LVM LTD has the right to terminate the Agreement.
- 9.1.11 He/she agrees and accepts that in the cases this Agreement has been terminated by any reasons whatsoever, LVM LTD has the right to immediately charge all due payments for the respective period of the management of the Account.
- 9.1.12 The Client declares that he/she understands that all trades subject to this Agreement will be spot currency trades and CFDs on margin executed at the best price available on LVM LTD’s liquidity.
9.2 The Client declares that he/she understands and accepts that trading as stipulated in this Agreement refers to spot currency and CFD trading and only.
9.3 The Client declares that he/she has fully knowledge of LVM LTD´s terms and conditions which are included into this Agreement and published on the website of LVM LTD (www.lvmexchange.com).

10 Conflict of Interests

10.1 The parties agree and accept the fact that under this Agreement LVM LTD engages itself in specific activities and it is possible that conflicts of interests may arise in the execution of trades for the account of the Client.
10.2 LVM LTD may not use discriminatory practices with respect to the Client (providing quotes, execution time) different from the practices it applies for any other client in the trade execution on the market.
10.3 The Client shall not hold LVM LTD or its employees, associates and directors liable for the results from the execution of trades for the account of the Client on one hand and as the counter party to those same trades, on the other section.

11 Commencement and Termination

11.1 This Agreement becomes effective on the date of receipt of the Client’s minimum required funds into his/her account at LVM LTD, pursuant to Art. 5.1. above.
11.2 This Agreement can not be terminated before the expiration of a one-year period.
11.3 To determine this agreement one party gives a notice to the other party in writing at least 14 days before the Agreement shall end.
11.4 Along with the written notice the Client is obliged to substantiate to LVM LTD the ways in which LVM LTD should handle the remaining assets in the Client’s account.
11.5 LVM LTD may terminate this Agreement without prior notice in the cases where the Client has failed to perform his/her obligations under this Agreement.
11.6 LVM LTD may terminate this Agreement without prior notice in the cases where the Client(being a legal entity) declares bankruptcy/insolvency, as well as in the cases of a company reorganisation or deletion of the Client from the Register of Companies.

12 Force Major Events

In the cases where one of the parties is hindered to fulfil its obligations with respect to this Agreement due to circumstances beyond its control, both parties agree that such circumstances can be accepted as a valid reason for the delay of the execution of the corresponding contractual obligations under this Agreement. Such circumstances can be, for instance, technical or communication disruptions, system failures, loss of data caused such failures, lightning, strikes, fire, changes in the legislation, terrorist attacks, military actions, important economic or political news, intervention from the authorities in the activities of the contracting parties and/or any other events that the parties are not able to predict, and the further execution of the Agreement is against the rules of justice and faithfulness.

13 ForexWorker | Maximum Drawdown

13.1 The client intends to carry out trading through LVM LTD and declares that he/she agrees that LVM LTD will use the strategy for signals generation through its own system. LVM Ltd. declares that it will use only the trading strategy "LVM Trade" for generating trading signals into the System.

14 Risk Warning

Trading in foreign exchange and bullion, particularly margin trading, involves the potential for profit as well as the risk of loss which may vastly exceed the amount of money you commit to any trade or transaction. Movements in the price of foreign exchange 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 of which you may be unable to settle adverse trades. Staff of LVM LTD 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.

15 Miscellaneous

15.1 By signing this Agreement the Client officially declares that:
- a) He/she accepts the General Terms and Conditions, Execution Policy, Risk Disclosure Policy, Privacy Policy, Conflict of Interest Policy and Client Categorisation applicable to contracts of LVM LTD,
- b) He/she is aware of and accepts the potential risks associated with the execution of this Agreement, at the time he/she is signing this Agreement;
- c) He/she has opened a trading account with LVM LTD.
15.2 By signing this Agreement the parties state that this Agreement and all its clauses result from the individual negotiations between them. Each clause in the Agreement reflects the exact requests and understandings of both parties.
15.3 All the disputes arising from this Agreement will be resolved by the St. Vincent Court of Law.
15.4 All clauses in this Agreement are agreed upon individually between both contracting parties after each party has had the opportunity to read and understand each clause in advance, as well as to discuss and clarify its meaning with the other party to the extent reasonable and possible.

16 Documents

The client will provide LVM LTD with the following documents:

16.1 Copy of Passport
16.2 Utility Bill