Robo Trading Agreement

This agreement constitutes a contract between:

1) You as a customer of our services under this client agreement (referred to as “You”, ”Your” or “Client”)
2) Trading 212 Ltd., a licensed investment firm, company number 201659500, having its registered office at Litex Tower, fl. 10, 3 Lachezar Stanchev Str., Sofia, Bulgaria, (referred to as “Trading 212”, “We”, “Us” or “Our”) together referred to as the “Parties”.

This agreement is entered into on the grounds of the investment firm licence granted to Trading 212 by the Bulgarian Financial Supervision Commission (Register number RG-03-0237).

This Robo Trading Agreement (the “Robo Trading Agreement” or “RTA”) contains additional, special terms and conditions to the Client Agreement of Trading 212 (referred herein as the “Client Agreement”) which will apply to you, if you subscribe for the Robo Trading Services (as defined below). You may not use the Robo Trading Services, without agreeing to the Client Agreement. The terms of the Client Agreement shall be applied mutatis mutandis to following RTA. In case of discrepancies the terms of the RTA shall prevail.

1. Introduction.

Trading 212 will make available to its Clients the ability to use automated trading tools and services. Such services shall include various electronic services (together with any related software or application) accessible by whatever means we offer without limitation on trading, direct market access, order routing, API or information services that we grant you access to or make available to you either directly or through a third party service provider, and used by you to view information and/or enter into Transactions and ‘Robo Trading Service’ shall mean any one of those services (“Robo Trading Services”). Services shall be provided through a specifically designed platform(s) made available to the Clients on Trading 212’s website or a on third-party website that will be granted access to Trading 212 systems (hereinafter the “Platform” and the “Website” respectively).

By using our Robo Trading Services you acknowledge and аgree that:

  • You have read, understood and accepted the Client Agreement and this RTA;
  • You have read, understood and accepted the Legal Documents of Trading 212;
  • You authorise us to act on any instruction provided by you (including by electronic means and tools) or as we may deem that was provided by you;
  • You are solely responsible for the selection and approval of the Robo Trading Services;
  • You represent and warrant that you have made the appropriate tests (including backtesting), customisations and respective considerations when using Robo Trading Service;
  • Robo Trading Services may not mitigate the risks related to trading CFDs, including but not limited to those listed in the Client Agreement of Trading 212 and the Trading 212 Risk Disclosure Notice and our website;
  • We will be entitled to suspend, terminated or block any and all Robo Trading Service, at our sole discretion and without prior notice;
  • We are not bound by any parameters of an order/signal made by Robo Trading Services. We shall only execute orders, which meet Trading 212’s requirements;
  • We will not have any obligations and we will take no responsibility for transmissions that are inaccurate and or do not reflect the account amount or any other trading requirement (margin, leverage levels etc.) and execute any order as actually received by us;
  • In no event We will be held liable for any claim, damages or other liability, including loss of funds, indirect losses (such as loss of profits), data or service interruptions, whether in an action of contract, tort or otherwise, arising from, out of or in connection with the use, operation, performance and/or error or malfunction of any Robo Trading Services and/or any services provided by any Robo Trading Services provider other than as a result of our fraud, wilful default or negligence;
  • Trading 212 does not guarantee that the use of Robo Trading Services will have a positive, or the desired result or a specific performance;
  • The Robo Trading Services are made available exclusively for your personal use and You shall not provide access to the latter services and your account to any third party.
  • You shall not use Robo Trading Services, tools or software other than one previously approved by Us, nor you will try to amend in any way the latter;
  • You have made an informed decision and have evaluated and understood the risks which are related to the use of Robo Trading Services. You remain in control over and you are solely responsible for Your account and your transactions;
  • We do not control, endorse or vouch for the accuracy or completeness of any Robo Trading Services or their suitability to you. Robo Trading Services are provided to you on an ‘as is’ basis, without warranty or guarantee of any kind, express or implied, including but not limited to the warranties of merchantability and fitness for a particular purpose;
  • Certain Robo Trading Services providers run on pricing data provided by us to a third party software administrator. We may by directly or indirectly related to the Robo Trading Services provider and we will make our best efforts to mitigate any conflict of interest therein. We will use reasonable endeavours to ensure an acceptable service but you accept that the price data displayed in any such Robo Trading Services provider may be delayed and that we do not guarantee the accuracy or completeness of the data, either current or historical, and that we do not guarantee that the service will be uninterrupted. Furthermore, you acknowledge and agree that in the event of any discrepancy between the data (pricing or otherwise) in the Robo Trading Services and our Robo Trading Services, the data in our websites and platforms will prevail;
  • No high frequency trading services shall be admitted;
  • We do not provide investment advice, nor provide any personalised investment recommendations and/or advise You on the merits of any investments, either with respect to the Robo Trading Services.
  • We may be charging you fees for the use of Robo Trading Services.

2. Financial instruments available with Autotrading.

The financial instruments for which the Robo Trading Services may be provided, pursuant to this Agreement shall be determined by Trading 212. Without limitation, it is indicated that the Robo Trading Services primarily concern Contracts for Differences (CFDs), having as underlying assets exchange rates, commodities or other assets, without excluding the extension of the Robo Trading Services to other financial instruments in the future.

Trading 212 takes the necessary measures to avoid conflict of interests’ situations, which may arise in the exercise of investment activities and provision of investment and ancillary services. As conflict of interests means a situation in which, in the exercise Trading 212’s activities, the interests of Trading 212 and the interests of its clients, or its affiliates, are in conflict directly or indirectly.

3. Investment decision.

Given the above mentioned, the Client expressly understands and agrees that he/she does not expect Trading 212 to propose any Platform, Website, Robo Trading Services, including but not limited to transactions, instruments and strategies in order to serve specific investment objectives.

The Robo Trading services are available to Clients who have decided beforehand to carry out transactions in CFDs, and, thus, have profit-making investment objectives.

No investment decisions are made by Trading 212.

4. Trading strategies and automated execution.

The reproduction of trading signals from Robo Trading Services provider trading strategies, created through the use of a Platform or a Website, is made automatically and Trading 212 accepts these signals to automate execution of orders. The use of a software for generating trading strategies in combination with the automated execution of the signals generated by the software may be classified from a regulatory perspective as portfolio management. Therefore You hereby provide your explicit understanding and consent that we perform such an assessment and that we may process relevant data. Specifics on such an assessment are provided below.

In such case the provision of portfolio management services by Trading 212 shall be made under the authorisation granted to Trading 212 by and within its licence, taking into account the fact that automated transactions are carried out without the specific approval for each of them by the Client.

It is expressly clarified that any reference to the term "portfolio management" or similar terms, whether in the present or in any other written means of communication, as regards the services and operation of the Platform, shall only have the above meaning and shall be exclusively related to the services specifically described herein. Under no circumstances Trading 212 shall be deemed to undertake any obligations towards the Client to make investment decisions on the Client’s behalf, on Trading 212’s initiative or discretion, for the achievement of any investment objective of the Client. The use of automatic trading shall not in anyway affect, amend or override the fact and the statements made by you, confirming that no investment decisions are made on your behalf by any third party, including Trading 212 and that each transaction is still concluded only at Your own discretion and order and shall be entirely at Your own expense and risk.

The use of such a tool, may in principle allow features such as limiting the losses. However, in case of special circumstances not allowing the immediate execution of position closing orders, the Client may suffer further losses due to rapid fluctuations taking place between the time of production of the relevant trading signal and the time of the actual execution of such signal. Such special circumstances may relate to the foreign exchange market generally or to one or more currency pairs or to the Executing Firm where the client’s trading account is held or to a combination thereof. Therefore, the Customer understands and accepts the risk of having losses greater than his/her limit losses, for which Trading 212 shall not be liable.

In automatic trading the Client may be receiving trading signals from a software provider (such as ProQuant) into his/her own account directly for execution. However, in the latter example the Client is at all times in control over the generating strategy software, since he/she is deemed to have created and to be in control of all parameters of a strategy or and could stop the latter at any time. The Client remains in control over his/her account. The user simply makes use of the tools provided by the platform. In that respect, Trading 212 provides facilitation with the technical infrastructure.

For the avoidance of any doubt in case the Robo Trading Services provide for the use of execution of trading strategies, the latter shall only be available and supported by Trading 212 if all of the conditions set by the Client in the relevant strategy correspond to:

  • the Terms and conditions of the Client Agreement and this RTA;
  • and any other laws, rules and regulations that may apply (such as but not limited to any ESMA restrictions on trading CFDs); and
  • the available funds within the respective Clients account; and
  • any other technical and safety rules.

Trading 212 will not execute any orders, signals or instructions contrary to the above requirements. Transactions will be executed pursuant and in accordance with the funds available and the applicable limitations, your account type and our terms and conditions and may not fully reflect the selected strategy.

When required to make a Suitability Assessment Trading 212 shall review the Robo Trading Services and its functionalities in order to accept them as a means to provide suitable software solutions for its clients.

In making a decision to automate the execution of orders, You have considered your entire financial situation including financial commitments and You understand that using trading strategies with automated execution is highly speculative and that You could sustain significant losses exceeding the amount used to start the strategy, however, You cannot lose more than the equity in Your account as provided in the Client Agreement. Please note that we are unable to provide any guarantee as to the performance of any particular investment, account, portfolio or strategy.

5. Commissions.

For the use of Robo Trading Services, which will essentially result in automatic execution of your investment decisions you will be charged at the rate of 0.005 % of the total transaction volume of each transaction.

6. Suitability Assessment.

Before You can engage in automated execution of orders, We will assess what trading strategies are suitable for You and under what conditions (the “Suitability Assessment”) and establish Your investment profile on that basis. Please note that the answers you are providing to us during the Suitability Assessment will have a direct impact on determining whether automated trading is suitable for You. Acknowledge that it is Your responsibility and in Your best interest to provide us with correct, up-to-date and complete information. Please note that for the purposes of the suitability assessment we may also use the appropriateness assessment we have already performed or any other information suitable for the assessment or perform a new appropriateness assessment, based on our sole discretion. If you have not met the minimum criteria of this assessment or if you have not made any of them, you will not be permitted to use the Robo Trading Services. Before proceeding with the Suitability Assessment, please make sure that your appropriateness assessment is true and accurate.

Trading 212 does not propose/suggest to the users of the Robo Trading Services any transactions in CFDs or any other financial instrument as suitable or appropriate for the Client compared to other forms of investment. In such situations, the Client should at least understand the overall risks of the portfolio and possess a general understanding of the risks linked to each type of financial instrument that can be included in the portfolio.

The Client declares that the data provided by him/her is true and reflects his/her actual situation. The Client fully understands that the Robo Trading Services are merely software tools and require the undertaking of investment risks which cannot be fully avoided. In the event that the Client believes that the above description does not match his/her actual investment profile, he/she must not proceed to the acceptance of these terms and stop this process immediately.

Moreover, the Client undertakes to inform Trading 212, on his/her own initiative, in case of change of the data declared to Trading 212 through the questionnaire, as well as to re-fill the questionnaire at regular intervals as requested by Trading 212. The Client is not able to oppose against Trading 212 any such changes if he/she has not previously informed Trading 212 in writing of the specific changes.

7. Risk disclosures.

Although we would integrate any approved Robo Trading Service so that the services are provided immediately (e.g. order execution), deviations may be occur.

In addition, the Client understands and accepts the risks involved in the use of computers and communication systems in the context of conducting transactions on financial instruments and the possible inability of timely transmission of the relevant communication due to interruptions, faults and etc.

It may happen that signals are not routed which may be due to characteristics of the software, technical problems, or incompatibility of the operating systems used by the parties. The service provided by Trading 212 comprises the routing of signals as far as is technically possible in the framework of the software. There is no manual intervention from Trading 212 or the software provider.

8. In case of automated trading.

We will update the Suitability Assessment from time to time. You can revisit your suitability questionnaire at any time and evaluate whether there has been a change to your experience, trading objectives and/or financial situation.

Without derogating from the generality of the foregoing, You have reviewed and acknowledged the Risks Associated with Automated execution of orders services and trading with CFDs, as more fully described herein, including but not limited to, automated execution of orders services, whereby the opening and closing of trades will happen in your account without your manual intervention.

You hereby authorise Us to limit and/or withhold our automated execution of orders services based on your investment profile and Trading 212’s ongoing suitability assessments in accordance with its policies and procedures.

You further authorise Trading 212 to execute any and all transactions and/or positions undertaken by the strategy You have linked to Your account, including without limitation strategy and setting limits to any position. These actions are done automatically once initiated by You and do not require any prior consultation, consent or approval of ongoing activity/copied trades. You hereby confirm that you acknowledge that at any time, upon Your sole discretion, You can stop, pause, restrict and/or limit any Automated execution of orders services performed by You via our Websites. You remain, at all times, solely responsible for both monitoring, selecting and assessing the suitability of the strategies.

In particular, when using the automated execution of orders services, You further authorise Trading 212, to: (a) link or stop the link of the strategy with your account; (b) open and/or close any position available on our Websites/applications, at its sole and absolute discretion to set limits to any position; (c) update and/or amend the policy, the objectives, the structure and/or composition of any Automated execution of orders services, at its sole and absolute discretion; (d) close any such strategy, at its sole and absolute discretion. Trading 212 shall continue to be committed to exercising reasonable endeavors to monitor the performance of the strategies/accounts against parameters established by it, which may include risk behavior, profitability, drawdown and any other parameters deemed relevant by Trading 212 and to stock and/or block any trader/strategy from being linked and/or executed.

We reserve the right to pause the automation of any strategy, at Our sole and absolute discretion.

Neither Trading 212 (with respect to the strategies), nor the persons who have created the software, which may generate Your strategies, guarantee the future performance of Your Account, any specific level of performance, the success of any investment strategy or the success of Our overall management of the Account. Investment strategies are subject to various market, currency, economic, political and business risks. Most of such strategies are based on past performance and do not reflect current market trends. Investment decisions may not be profitable and may result in the loss of Your entire invested amount. Past performance is not a guarantee or prediction of future performance.

You should note that We and our affiliates may take the same or similar positions in specific investments for Our other clients and Our own accounts as we do for You, or We or our affiliates or other customers may open trades in an opposite direction to You. We have no obligation to purchase or sell, or to recommend for purchase or sale in your Account, any financial instrument which we or our Affiliates may purchase or sell for our other clients and our own accounts. You should further note that we may elect to remunerate our copied traders.

To the maximum extent permissible under the applicable law, neither we nor any of our affiliates will be liable for (a) any loss arising from adhering to Your written or oral instructions, (b) any loss that You may suffer by reason of any decision made or other action taken by an account elected to be copied by You, including without limitation, any strategy; or (c) specifically any loss arising from any investment decision made or other action taken or omitted in good faith by any linked strategy. Nothing in this Agreement will waive or limit any rights that You may have under any applicable laws which may not be waived or limited.

As it is you who makes your investment decisions, you should be sure you understand the relative advantages, disadvantages, and risks of different types of investments. You will receive information explaining the nature, risks and costs of products. This information includes, for example, a description of a product’s risks and whether prices/values may fluctuate. The amount of information will depend on the type of product, its complexity and risk profile.

Remember that all investments involve some level of risk: taking higher risks increases the likelihood that you may lose some or all of your initial investment. It’s important to understand what your investment choices are and how different types of investments put your money to work. Risks and potential returns vary greatly from investment to investment.

The Client also declares that he/she is aware and accepts the risks arising by the use of the autotrading services, which are based on the investment strategies of third parties and are not determined by Trading 212.

It may happen that signals are not routed which may be due to characteristics of the software, technical problems, or incompatibility of the operating systems used by the Parties. The service provided by Trading 212 comprises the routing of signals as far as is technically possible in the framework of the software. There is no manual intervention from Trading 212.

Every effort has been made to ensure that the information on this Website is accurate and complete, but neither Trading 212, nor our officers, principals, employees or agents shall be liable to any person for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages) resulting from any errors in, omissions of or alterations to the information. The foregoing shall apply regardless of whether a claim arises in contract, tort, negligence, strict liability otherwise.

The Platform as offered through a license with Trading 212, offers a service to run autotrading directly in said Client’s trading account. This means You, may choose, through controls in the Platform, for the account to be automatically operated following the buy and sell signals generated by one or more Trading platforms.

Rapid and unexpected movements in prices and/or failures in their diffusion, can generate buy and sell signals that result in gains or losses larger than expected, and are always independent of what may have happened in the historical period analysed by the user. Trading 212 performs the execution of these orders (the buy and sell signals generated by the Platform) for the Client’s account on a "not held" basis, meaning Trading 212 shall not be held responsible for the execution of the order at the price indicated or otherwise, and shall not be responsible for the performance of the Platform, including any potential trading losses the user may sustain as a result of the use of the Platform. In particular, Trading 212 is not responsible for any damages that may result from incorrect functioning of the Platform as well as any technical problem external to Trading 212 servers such as mechanical or communication line failure, or system errors, or any other cause beyond its control; and can accept and execute orders only if actually received or generated; expressly declining liability for any malfunction of the Platform, the telephone network, hosting services and technical support of the Platform.

You hereby confirm that you acknowledge that at any time, upon your sole discretion, you can stop, pause, restrict and/or limit any automated execution of orders services performed by you via our Websites. You remain, at all times, solely responsible for both monitoring and selecting and assessing the suitability of the strategies.

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