Terms & Conditions

Last Updated: 10th August, 2023. 4:14pm (GMT)

myFXindex proprietary website and its related services hereinafter referred to as “we”, “our”. You may access many areas of our website without registering your details with us; however, certain areas like Traders Portal, e-Learning FX Index & Traders Hub Index are only open to you upon registration. The terms and conditions which govern materials submitted by you to us and your use of this website (including all ‘myFXindex’ branded microsites and any email communications) are governed by our general “Terms and Conditions of Reading”. These Terms and Conditions of Registration are in addition to the general Terms and Conditions of Reading.

Trading Accounts Terms and conditions

1. Trading Rules and Guidelines

1.1 • The fully funded trading account and all funds remain the property of myFXindex, hereby referred to as 'The Account Owner'. Subscribed traders hereby referred to as 'myFXindex Traders or Subscribers' are not liable for any losses incurred during their authorized and acknowledged trading activity on the Account Owners' funded accounts. Subscribers have no title, ownership, investment or rights to the funds in the trading account. Subscribers may receive account credentials, trade execution rights and statements for the account on behalf of the account owner, yet are prohibited from any direct contact with, or instruction to the broker or any other intermediary. Any such direct and non myFXindex sanctioned contact with any myFXindex broker or intermediary will result in instant subscription termination and trading account closure.

1.2 • Traders are compensated on performance and target completion basis only. Traders keep 60% of their profits if and when a profit target of 4% is reached.

1.3 • Traders will manage a $30,000 trading book on the Index Classic subscription & $60,000 trading book on the Index Premium subscription Swap-free accounts are available for both subscription on special request at a different fee.

1.4 • Each package has a dynamic leverage with maximum buying power of $90,000 for Index Classic and $180,000 for Index Premium.

1.5 • Traders may only trade on major and minor pairs. Any combination available of the following currencies may be traded as pairs: CHF, USD, GBP, EUR, JPY, CAD, AUD, NZD, XAU.

1.6 • All traders must adhere strictly to a maximum drawdown of 12% of the starting balance. myFXindex shall disable the account of any trader who either loses 12% of the starting capital or in drawdown of more than 12% while trading. The trader will be required to request for Top Refinancing in order to gain access to trade.

1.7 • Joint Hedging is not allowed, this is defined as trading opposing positions in multiple accounts e.g buying GBPUSD in one account and selling GBPUSD in another. Traders are not to engage in copy trades nor follow other traders' entry and exit signals. Joint Hedging and copy trading are classified as group trading. All trades must be based on the trader’s own analysis and decisions. Traders are not to use EA's, scripts or robots.

1.8 • myFXindex is not responsible for any technical issues arising from the usage of Meta Trader 4 (MT4), Meta Trader 5 MT45 or any other systems provided by their appointed brokers.

1.9 • Only one account per individual is permitted. Subscribers will be billed on a recurring 45-day rolling period. Subscribers may cancel at any time by contacting the myFXindex Support Team through our support channel.

2. Trading Hours

2.1 • Trading hours for all account are 1:00-21:00UTC Monday - Friday. All positions must be closed on Fridays at 21:00UTC, excluding myFXindex Fund Executive Trader.

2.2 • All trading accounts have 24-hour trading, Traders are allowed to modify, close or carry positions overnight but no trades may be held over the weekend except myFXindex Fund Executive Trader.

3. Unauthorised Trading Activity

3.1 • Any pattern of unauthorised trading will leave the trader ineligible for withdrawals, refinancing, renewals or capital growth.

3.2 • Any pattern of unauthorised trades after a warning will result in instant account closure.

3.3 • Any funds gained in the trading account as a result of unauthorised trades will be removed from the account and credited to myFXindex at investor/trader withdrawals.

3.4 • All actions related to unauthorised trading activities are implemented autonomously by our signature award-winning machine learning AI risk system and are final.

3.5 • Warnings related to unauthorised trading activity may not always be sent before action is taken by the risk system.

3.6 • Only one account per verified individual is permitted. Traders are not permitted to allow others to trade their account and may not trade on any other myFXindex account. IP addresses, device IDs and behavioural data maps will be used by the automated risk system as a basis for determining unauthorised trading activity.

3.7 • All traders must be contactable on the telephone number provided during verification at anytime a position is held in the markets. myFXindex reserve the right to demand extra video verification at anytime. Failure to contact the trader or to verify identity will result in trade deletion and/or account suspension.

4. Profit Withdrawal Schedule

4.1 • Traders are compensated on a profit split basis only. Traders keep 60% of all profits if and only when a profit target of 4% is reached.

4.2 • Requests for a withdrawal can be made whenever the account balance is at least the original 100% + 4% and the subscription is active.

4.3 • Withdrawals in blocks of 4% above original balance are deducted upon request from the trading account. There are no limit on the amount of withdrawals made on a weekly basis. 60% split ration of every account withdrawal is transferred to the investor's pool and to the trader's Portal wallet and is held separately from the trading account. The total amount requested from the trader's wallet will be processed within 24 hours to send to the Trader.

4.4 • Automated Risk checks are completed prior to a withdrawal approval. Once approved, the trader may request their payout from Traders Portal and it will be processed within few hours.

4.5 • Payments will be made by Crypto Currency or Bank Transfer to an account in the trader's own name. Alternative payment methods may be available, however, the trader must ensure that bank transfers related to FX are receivable by the institution and its regulators in the trader's geographic location. myFXindex partners with local brand ambassadors in various countries to assist in payout.

4.6 • myFXindex will not be responsible for failure to deliver a payout due to adverse regulatory directives or rejection in any country or region. Nor will payment be re-sent in the event of rejection of transfer by the receiving foreign institution.

General Website & Portal Terms and Conditions

5. Traders Portal Registration
5.1 • By registering here and creating your “myFXindex Account”, you can access different services that are offered by us without having to register for each service separately. If a service you wish to subscribe to has additional terms and conditions, you will be asked to accept these separately.

5.2 You agree that:
(1) • You will keep your login credentials (username and password safe), and won’t share them with anyone.
(2) • You will not pass yourself off as someone else or create multiple, false accounts.

6. Term
6.1• If you breach these or any of our other terms and conditions we reserve the right to deactivate & close your account, if we do so, we may close all accounts you have open in your name.
6.2 • To deactivate your account please contact our Support Team; their communication details can be found on our home page.

7. Administration
7.1 • You can update your personal details (including your account and marketing preferences) by accessing your account at your Profile page through our Traders Portal and making any necessary changes; this will update your details across all services that you have subscribed to.

8. • Data
8.1 •Full details of the way in which we use cookies on our website and how we hold and process your information can be found in our Privacy and Cookie Policy.

9. General
9.1 • No waiver by us of any breach of these terms shall constitute a waiver of any other prior or subsequent breach and we shall not be affected by any delay, failure or omission to enforce or express forbearance granted in respect of any of your obligations.

9.2 • The rights and remedies of this under these terms are independent, cumulative and without prejudice to its rights under the law.
9.3 • These terms are not intended to create and shall not create any rights, entitlements, claims or benefits enforceable by any third party by virtue of the Contracts (Rights of Third Parties) Act 1999.
9.4 • These terms and/or your use of the website shall be governed by and construed in accordance with English law and the English Courts shall have exclusive jurisdiction over any dispute which may arise.

Refund, Capital Growth Terms and Conditions

10. Refund Policy

10.1 • Refunds may be requested within 15 days of the INITIAL subscription.

10.2 • The amount receivable is 95% of the fee paid.

10.3 • If losses exceed -2% of the trading capital book, then such trader is ineligible for a refund.

10.4 • Refunds will not be issued should the trader continue to trade after requesting the refund.

11. Refinance Option

11.1 • All Traders with negative balances, without open positions or resting orders may receive refinance back to the initial balance of $30,000, or $60,000 for an extra fee.

11.2 • This is subject to approval by the risk & evelaution executives and is only available to those without unauthorized trades on record.

12. Capital Growth

12.1 • Index Premium accounts will be increased in size by means of a capital injection once 15% profit on the initial starting capital is realized. Such accounts will be grouped by stage and the account manager thereafter classed as a myFXindex Fund Executive Trader.

12.2 • myFXindex Fund Executive Traders will be further grouped by stage for risk management and will receive gradual easing of all restrictions.

12.3 • myFXindex Fund Executive Trader must respect the drawdown limit of 12%. Any breach of the maximum drawdown level will result in the additional funding being removed.

13. Risk Disclaimer

13.1 • myFXindex or its brokers may change margin requirements at anytime in line with perceived or actual excessive changes in volatility and/or liquidity.

13.2 • myFXindex or its brokers may cancel orders or trades at anytime in line with perceived or actual risk of non-execution of stop or limit orders due to market conditions.

13.3 • myFXindex or its brokers are not responsible for the variable spread, liquidity levels or limit order execution parameters provided by liquidity providers and market makers.

13.4 • myFXindex or its brokers are not responsible for any trading losses due to technical issues experienced on the trading platform.

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