Get Started

Bullpipscap TAC

Terms and Conditions

Terms & Conditions

Note: The English version of this agreement is the governing version and shall prevail whenever there is any discrepancy between the English version and the other versions.

 This client agreement, together with any Schedule(s), and accompanying documents, as amended from time to time, (this “Agreement”) sets out the terms of the contract between you and us. Please read it carefully and let us know as soon as possible if there is anything which you do not understand.

1. INTERPRETATION

“APPLICABLE REGULATIONS” means:

Bullpipscap Rules or any other rules of a relevant regulatory authority; and all other applicable laws, rules and regulations as in force from time to time.

“ASSOCIATE” means an undertaking in the same group as us, a representative whom we or an undertaking in the same group as us appoint, or any other person with whom we have a relationship that might reasonably be expected to give rise to a community of interest between us and them.

“BASE CURRENCY” means US Dollars.

“BUSINESS DAY” means a day which is not a Saturday or a Sunday and upon which banks are open for business in Malta.

“CLIENT MONEY RULES” means the rules specified in Standard License Conditions 2.86-2.93 of the Investment Services Rules issued by Bullpipscap and the Investment Services Act (Control of Assets) Regulations – Legal Notice 24 of 1998 as amended and the Directives and Circulars issued pursuant these Rules and Regulations, as amended from time to time by Bullpipscap .

“CONTRACT FOR DIFFERENCES” or “CFD” means the financial instrument specified in paragraph of the Second Schedule of the Investment Services Act.

“CREDIT SUPPORT PROVIDER” means any person who has entered into any guarantee, pledge, hypothecation, agreement, margin or security agreement in our favor in respect of your obligations under this Agreement.

“ELECTRONIC SERVICES” means a service provided by us, for example an Internet trading service offering clients access to information and trading facilities, via an internet service, a WAP service and/or an electronic order routing system.

“EVENT OF DEFAULT” means any of the events of default as listed in Clause 14.1 to Clause 14.9 of Clause 14 (Events of Default)” of this Agreement.

“EXECUTION” means the completion of clients’ orders on the company’s trading platform, where the company acts as a Principal to clients’ transactions.

“Bullpipscap ” is an abbreviation for “Malta Financial Services Authority”.

“MFSA RULES” means the Investment Services Act (Chapter 370 of the Laws of Malta), the Prevention of Money Laundering Act (Chapter 373 of the Laws of Malta), the Malta Financial Services Act (Chapter 330 of the Laws of Malta), the Prevention of Financial Markets Abuse Act (Chapter 476 of the Laws of Malta), the Directives, Circulars and all other regulations issued pursuant to these Laws and all guidance notes, administrative notices, newsletters and rules published by the Malta Financial Services Authority.

“Bullpipscap ONLINE TRADING SYSTEM” means the internet-based trading system available at our Website that allows you to provide us with instructions.

“Bullpipscap TRADING DESK” means the trading desk operated by us at our premises the Headquarters of Bullpipscap Limited in Malta.

“OTC” means ‘over the counter’ and refers to transactions conducted otherwise than on an exchange. “SECURED OBLIGATIONS” means the net obligation owed by you to us after the application of set-off under clause 12 (Margining Arrangements) in the paragraph entitled (Set-off on default).

“SYSTEM” means all computer hardware and software, equipment, network facilities and other resources and facilities needed to enable you to use an Electronic Service.

“TRANSACTION” means any transaction subject to this Agreement and includes a CFD, spot or forward contract of any kind, or other derivative contract in relation to any commodity, financial instrument (including any security), currency, interest rate, index or any combination thereof and any other transaction or financial instrument for which we are authorized under our Investment Services license from time to time which we both agree shall be a Transaction.

2. INTRODUCTION

  1. SCOPE OF THIS AGREEMENT

    This Agreement sets out the basis on which we will provide services to you. This Agreement governs each Transaction entered into or outstanding between us on or after the execution of this Agreement.

  2. COMMENCEMENT

    This Agreement supersedes any previous agreement between you and us on the same subject matter and takes effect when you indicate your acceptance via our website. This Agreement shall apply to all Transactions contemplated under this Agreement.

3. GENERAL

  1. INFORMATION ABOUT US

    We, Bullpipscap Ltd. (“Bullpipscap ”), are authorized and regulated by the Malta Financial Services Authority (“MFSA”). Our registered office is in 7 High St Budleigh Salterton Devon United Kingdom

    MFSA’s office is situated at Notabile Road, Attard, BKR3000, Malta.

    Bullpipscap is a market maker for CFD and Spot FX Contracts. Bullpipscap owns and operates websites, trading platforms and brand names as indicated in its website (http://bullbyincap.com). Bullpipscap operates through these websites which allow online trading.

  2. LANGUAGE

    This Agreement is supplied to you in English and we will continue to communicate with you in English for the duration of this Agreement. However, where possible, we will communicate with you in other languages in addition to English.

  3. COMMUNICATION WITH US

    You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone). The language of communication shall be English, and you will receive documents and other information from us in English. However, where appropriate and for your convenience, we will endeavor to communicate with you in other languages. Our website contains further details about us and our services, and other information relevant to this Agreement. In the event of any conflict between the terms of this Agreement and our website this Agreement will prevail.

  4. CAPACITY

    We act as principal and not as agent on your behalf and you enter this Agreement as principal and not as agent (or trustee) on behalf of someone else. We shall treat you as a retail client for the purposes of the MFSA Rules and the Applicable Regulations. You have the right to request a different client categorization. However, if you do request such different categorization and we agree to such categorization, you will lose the protection afforded by certain MFSA Rules and the Applicable Regulations. This may include, but is not limited to:

    • the requirement for us to act in accordance with your best interests;
    • our obligation to provide appropriate information to you before providing the services;
    • the restriction on the payment or receipt by us of any inducements;
    • our obligation to achieve best execution in respect of your orders;
    • the requirement to implement procedures and arrangements which provide for the prompt, fair and expeditious execution of your orders;
    • our obligation to ensure that all information we provide to you is fair, clear and not misleading; and the requirement that you receive from us adequate reports on the services provided to you.

  5. GENERAL INTERPRETATION

    A reference in this Agreement to a “clause” or “Schedule” shall be construed as a reference to, respectively, a clause or Schedule of this Agreement, unless the context requires otherwise.

    References in this Agreement to any statute or statutory instrument or Applicable Regulations include any modification, amendment, extension or re-enactment thereof. A reference in this Agreement to “document” shall be construed to include any electronic document. The masculine includes the feminine and the neuter and the singular includes the plural and vice versa as the context admits or requires. Words and phrases defined in the MFSA’s Rules and the Applicable Regulations have the same meaning in this Agreement unless expressly defined in this Agreement.

  6. SCHEDULES

    The clauses contained in the attached Schedule (as amended from time to time) shall apply. We may from time to time send to you further Schedules in respect of Transactions. In the event of any conflict between the clauses of any Schedule and this Agreement, the clauses of the Schedule shall prevail. The fact that a clause is specifically included in a Schedule in respect of one Transaction shall not preclude a similar clause being expressed or implied in relation to any other Transaction. You acknowledge having read, understood and agreed to the Schedules to this Agreement.

  7. HEADINGS

    Headings are for ease of reference only and do not form part of this Agreement.

4. REGULATION

  1. SUBJECT TO APPLICABLE REGULATIONS

    This Agreement and all Transactions are subject to Applicable Regulations so that:

    • nothing in this Agreement shall exclude or restrict any obligation which we have to you under Applicable Regulations;
    • we may take or omit to take any action we consider necessary to ensure compliance with any Applicable Regulations;
    • all Applicable Regulations and whatever we do or fail to do in order to comply with them will be binding on you; and such actions that we take or fail to take for the purpose of compliance with any Applicable Regulations shall not render us or any of our directors, officers, employees or agents liable.

  2. ACTION BY REGULATORY BODY

    If a regulatory body takes any action which affects a Transaction, then we may take any action which we, in our reasonable discretion, consider desirable to correspond with such action or to mitigate any loss incurred as a result of such action. Any such action shall be binding on you. If a regulatory body makes an enquiry in respect of any of your Transactions, you agree to co-operate with us and to promptly supply information requested in connection with the enquiry.

5. COSTS, PAYMENTS, CHARGES and COMMISSIONS

  1. CHARGES AND/OR COMMISSIONS

    You shall pay our charges and/or commissions as agreed with you from time to time, any fees or other charges imposed by a clearing organization and interest on any amount due to us at the rates then charged by us (and which are available on request). Any alteration to charges and/or commissions will be notified to you before the time of the change.

  2. ADDITIONAL COSTS

    You should be aware of the possibility that other taxes or costs may exist that are not paid through or imposed by us.

  3. PAYMENTS

    All payments to us under this Agreement shall be made in such currency as we may from time to time specify to the bank account designated by us for such purposes. All such payments shall be made by you without any deduction or withholding.

  4. REMUNERATION AND SHARING OF CHARGES

    We may share charges and/or commissions with an Associate or other third party in connection with Transactions carried out on your behalf. Details of such remuneration or sharing arrangements are available to you upon request. We may also pay fees and commissions to persons who introduce business to us. If you require more information on the fees and commissions that we pay to business introducers, let us know and we will provide you with further information.