ECN Account: Enjoy lower spreads, open to all customers for a limited time

There is no negative balance system and negative balance will never exist in the client's trading account. This is to ensure that the maximum potential loss is only the margin funds for client, and the transaction risk is all controllable. In extreme cases, no negative balance protection does not apply.

All fees and charges received by us as described in this Agreement (other than third party fees and charges) are a benefit given to us by you, in exchange for the market making and dealing services provided by us.

25. COUNTERPARTY DISCLOSURE
25.1 The trading you conduct on the Trading Platform is not conducted on an Exchange. We act as a counterparty in Transactions conducted on the Trading Platform and, therefore, act as the buyer when you offer to sell an Instrument and the seller when you offer to buy an Instrument. The prices we offer on the Trading Platform might not be the best prices available.

25.2 Although we are the counterparty to each of your Transactions, we may limit our risk by immediately hedging (offsetting) your Transactions with another transaction that we enter into with a Financial Institution. We are compensated by marking up the price we received from the Financial Institution when we quote our prices on the Trading Platform. You should be aware that as we are the counterparty to each Transaction, if the price of your Transaction moves against you, we directly benefit from that trade. Additionally, since we act as the buyer or the seller in a Transaction, you should carefully evaluate any trade information you receive from us, or from any referred Financial Institution.

24.1.8 you will not enter into any transactions in a manner that constitutes Scalping or through the use of an automated data entry system. Accordingly, a significant portion of your transactions with short duration and with a win/loss ratio significantly in your favour may be deemed as abusive trading and will not be allowed;

39.1 The interpretation, construction, effect and enforceability of the Client Agreements shall be governed by the law of South Africa. You agree all Transactions carried out on the Trading Platform, under the South African licence FSP # 47546 are governed by South African Law.

Statements are inconsistent.