wisefunds.co allows you to trade in highly speculative investments which involve a significant risk of loss. Such trading is not suitable for all investors so you must ensure that you fully understand the risks before trading.
1. Trading is very speculative and risky.
Trading FX, Forex and CFDs contracts is highly speculative, involves a significant risk of loss and is not suitable for all investors but only for those customers who: understand and are willing to assume the economic, legal and other risks involved; and are experienced and knowledgeable about trading in derivatives and in underlying asset types; and are financially able to assume losses significantly in excess of margin or deposits because investors may lose the total value of the contract not just the margin or the deposit.
Neither FX, Forex and CFDs contracts are appropriate investments for retirement funds, CFD, Forex and FX transactions are among the riskiest types of investments and can result in large losses. Customer represents, warrants and agrees that Customer understands these risks, is willing and able, financially and otherwise, to assume the risks of trading FX, Forex and CFDs contracts and that the loss of Customer’s entire account balance will not change Customer’s lifestyle.
2. Risks related to long CFD positions, i.e. for purchasers of CFDs.
Being long in CFD means you are buying the CFDs on the market by speculating that the market price of the underlying will rise between the time of the purchase and sale.
As owner of a long position, you will generally make a profit if the market price of the underlying rises whilst your CFD long position is open. On the contrary, you will generally suffer a loss, if the market price of the underlying falls whilst your CFD long position is open. Your potential loss may therefore be bigger than the initial margin deposited. In addition, you might suffer a loss due to the closure of your position, in case you do not have enough liquidity for the margin on your account in order to maintain your position open.
3. Risks related to short CFD positions, i.e. for sellers of CFDs.
Being short in CFD means you are selling the CFDs on the market by speculating that the market price of the underlying will fall between the time of the purchase and sale. As owner of a short position, you will generally make a profit if the market price of the underlying falls whilst your CFD short position is open. On the contrary, you will generally suffer a loss, if the market price of the underlying rises whilst your CFD short position is open. Your potential loss may therefore be bigger than the initial margin deposited. In addition, you might suffer a loss due to the closure of your position, in case you do not have enough liquidity for the margin on your account in order to maintain your position open.
4. Risks related to Portfolio Management.
Any potential for profit must be balanced alongside prudent risk management given that significant losses may be generated over a very short period of time. The Investor shall ensure that he/ she understands all the risks involved and take into account his/ her level of experience. Past performance is not a guarantee of or prediction of future performance; there is no guarantee that the investment objective of the Strategy shall be achieved. The Company does not guarantee the future performance, or any specific level of performance, of the portfolio; the Investor understands and accepts that the above shall be subject to a number of market, currency, economic, political and business factors and that the portfolio may not necessarily be profitable.
5. High leverage and low margin can lead to quick losses.
The high degree of “gearing” or “leverage” is a particular feature of FX, Forex and CFDs contracts. The effect of leverage makes investing in CFDs riskier than investing directly in the underlying asset. This stems from the margining system applicable to CFDs which generally involves a small deposit relative to the size of the transaction, so that a relatively small price movement in the underlying asset can have a disproportionately dramatic effect on your trade. This can be both advantageous and disadvantageous. A small price movement in your favour can provide a high return on the deposit, however, a small price movement against you may result in significant losses.
Your losses will never exceed the balance of your account, which is balanced to zero, if the losses are higher than the amount deposited. Such losses can occur quickly. The greater the leverage, the greater the risk. The size of leverage therefore partly determines the result of your investment.
6. Margin Requirements.
Customer must maintain the minimum margin requirement on their open positions at all times. It is the Customer's responsibility to monitor his/ her account balance. The Customer may receive a margin call to deposit additional cash if the margin in the account concerned is too low. The Company has the right to liquidate any or all open positions whenever the minimum margin requirement is not maintained and this may result in Customer’s FX, Forex and CFDs contracts being closed at a loss for which you will be liable.
7. Cash Settlement.
The Customer understands that FX, Forex and CFDs contracts can only be settled in cash and the difference between the buying and selling price partly determines the result of the investment.
8. FX, Forex and CFDs Contracts.
Trading FX, Forex and CFDs contracts carries a high degree of risk. The gearing or leverage often obtainable in such trading means that a relatively small market movement can lead to a proportionately much larger movement in the value of your liability. You should be aware of the implications of this, in particular, the margin requirements.
9. Prices, Margin and Valuations are set by the Company and may be different from prices reported elsewhere.
The Company will provide prices to be used in trading, valuation of Customer positions and determination of Margin requirements in accordance with its Trading Policies and Procedures. The performance of your FX, Forex and CFDs contracts will depend on the prices set by the Company and market fluctuations in the underlying asset to which your contract relates. Each underlying asset therefore carries specific risks that affect the result of the CFD concerned.
10. Extent of Losses.
Where you are short in the market and the price rises, it is possible that the extent of your losses may not become clear until the position has been closed. You must undertake sufficient analysis prior to entering into a Transaction to ensure you are able to support the extent of the risk arising.
11. Rights to Underlying Assets.
You have no rights or obligations in respect of the underlying instruments or assets relating to your Trading, or FX, Forex and CFDs contracts. The Customer understands that CFDs can have different underlying assets, such as stocks, indices, currencies and commodities.
12. Currency Risk.
Investing in FX, Forex and CFDs contracts with an underlying asset listed in a currency other than your base currency entails a currency risk, due to the fact that when the FX, Forex and CFDs contracts is settled in a currency other than your base currency, the value of your return may be affected by its conversion into the base currency.
13. One click trading and immediate execution.
The Company’s online trading system provides immediate transmission of Customer’s order once a Customer enters the notional amount and clicks “Buy/Sell.” This means that there is no opportunity to review the order after clicking “Buy/Sell” and Market Orders cannot be cancelled or modified. This feature may be different from other trading systems you have used. Customer should utilize the Demo Trading System to become familiar with the Online Trading System before actually trading online with the Company. The Customer acknowledges and agrees that by using the Company’s online trading system, Customer agrees to the one-click system and accepts the risk of this immediate transmission/ execution feature.
14. The Company is not an adviser or a fiduciary to customer.
Where the Company provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and have not considered any of your personal circumstances or your investment objectives, nor is it an offer to buy or sell, or the solicitation of an offer to buy or sell, any Foreign Exchange Contracts or Cross Currency Contracts. Each decision by Customer to enter into a FX, Forex and CFDs contracts Trading with the Company and each decision as to whether a transaction is appropriate or proper for the Customer, is an independent decision made by the Customer. The Company is not acting as an advisor or serving as a fiduciary to Customer. The Customer agrees that the Company has no fiduciary duty to Customer and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with the Customer following the Company’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by the Company.
15. Recommendations are not guaranteed.
The generic market recommendations provided by the Company are based solely on the judgment of the Company’s personnel and should be considered as such. The Customer acknowledges he/ she enters into any transactions relying on the his/ her own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of the Company and/ or its affiliates. The generic market recommendations of the Company are based upon information believed to be reliable, but the Company cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will reduce or eliminate the risk inherent in trading FX, Forex and/or CFDs contracts.
16. No guarantees of profit.
There are no guarantees of profit nor of avoiding losses when trading FX, Forex and CFDs contracts. The Customer has received no such guarantees from the Company or from any of its representatives. The Customer is aware of the risks inherent in trading FX, Forex and CFDs contracts and is financially able to bear such risks and withstand any losses incurred.
17. Customer may not be able to close Open Positions.
Due to market conditions which may cause any unusual and sharp market price fluctuations, or other circumstances the Company may be unable to close out Customer’s position at the price specified by the Customer and the Customer agrees that the Company will bear no liability for a failure to do so.
18. Internet Trading.
When Customer trades online (via the Internet), the Company shall not be liable for any claims, losses, damages, costs or expenses, caused, directly or indirectly, by any malfunction, disruption or failure of any transmission, communication system, computer facility or trading software, whether belonging to the Company, Customer, any exchange or any settlement or clearing system.
19. Quoting Errors.
Should a quoting error occur (including responses to Customer requests), the Company is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments to the relevant account. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by the Company in its sole discretion and acting in good faith, of the relevant market at the time such an error occurred. In cases where the prevailing market represents prices different from the prices the Company has posted on our screen, the Company will attempt, on a best efforts basis, to execute Transactions on or close to the prevailing market prices. These prevailing market prices will be the prices, which are ultimately reflected on the Customer statements. This may or may not adversely affect the Customer’s realized and unrealized gains and losses.
The Company has the right to amend the current Policy as per its discretion and at any time it considers is suitable and appropriate. In such an event the Company will notify the client accordingly. The Company shall review and amend the current policy at least on an annual basis. The Policy is available for review by clients upon request and it is uploaded to the Company’s Website.
21. Exclusions and Limitations.
The information on this Website is provided on an “as is” basis. To the fullest extent permitted by law, the Company:
excludes all representations and warranties relating to the website www.wisefunds.co (the “Website”) and its contents or which is or may be provided by any affiliates or any other third party, including in relation to any inaccuracies or omissions in this Website and/ or the Company’s literature;
and excludes all liability for damages arising out of or in connection with your use of this Website. This includes, without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised this Company of the possibility of such potential loss), damage caused to your computer, computer software, systems and programs and the data thereon or any other direct or indirect, consequential and incidental damages. The Company does not however exclude liability for death or personal injury caused by its negligence.>
The above exclusions and limitations apply only to the extent permitted by law.
None of your statutory rights as a consumer are affected.
WiseFunds brings the biggest opportunity in the trading market. We strongly believe that trading can be simple, and valuable for everyone.
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