Terms and Conditions

Risk Disclosure Statement

This notice is provided to you (the “Client” or “you”) because you are considering dealing with Beirman Capital (“Beirman Capital”) (hereinafter “the Company”) in Foreign Exchange Contracts, Contracts for Difference, deposits and payments products, and other Derivatives Contracts (“Transactions”) either on a margin basis or otherwise.

This notice cannot and does not disclose or explain all of the risks and other significant aspects involved in dealing in these Transactions, and was designed to explain in general terms the nature of the risks particular to dealing in these Transactions and to help the Client to take investment decisions on an informed basis.

Prior to applying for an account, you should carefully consider whether trading in these Transactions is suitable for you in light of your circumstances and financial situation. Margin FX and CFDs involve different levels of exposure to risk and, in deciding whether to trade in such instruments, you should be aware of the following points:

OTC Derivatives & Leverage Risks

Trading in Margin FX and CFDs (“OTC Derivatives”) carries a high degree of risk. The “gearing” or “leverage” involved in trading OTC derivatives means that a small initial margin payment can potentially lead to large losses in excess of your initial investment. The geared nature of derivatives also means that Margin FX and CFDs trading can carry greater risks than conventional share trading, which is generally not geared.

A relatively small market movement can lead to a proportionately much larger movement in the value of your investment, and this can work against you as well as for you.

Most OTC derivatives are off-exchange derivatives. This might be considered to involve greater risk than an on-exchange derivative, as there is no exchange market on which to close out an open position — you are only able to open and close your positions with us. Accordingly, you are exposed to the unlikely event that we may not be able to fulfill our obligations to you as a counterparty.

Foreign markets will involve different risks than domestic markets. The potential for profit or loss from OTC derivatives relating to a foreign market or denominated in a foreign currency will be affected by fluctuations in foreign exchange rates. It is possible to incur a loss if exchange rates change to your detriment, even if the price of the instrument to which the OTC derivatives relate remains unchanged.

Margin, Liquidation & Stop Orders

Margin FX and CFDs are contingent liability transactions that are margined and require you to make a series of payments against the purchase price, instead of paying the whole purchase price immediately, and they may only be settled in cash.

You may sustain a total loss of the margin that you deposit with us to establish or maintain a position. If the market moves against you, you may be called upon to pay substantial additional margin at short notice. If you fail to do so within the required time, your position may be liquidated at a loss, and you will be liable for any resulting deficit.

You will be deemed to have received a notice requiring the payment of such funds, even if you are not at home or do not receive the messages we leave for you, if the notices are delivered to your nominated contact point.

Even if a Margin FX and CFD is not margined, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when you entered into the contract.

Under certain trading conditions, it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that trading in the underlying market is suspended or restricted.

Placing a Stop Order will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an Order if the underlying market moves straight through the stipulated price.

Advice, Clearing & Client Funds

We will not provide you with personal financial product advice relating to Margin FX and CFDs, and we will not make Margin FX and CFD recommendations of any kind. The only advice we will give you will be on how Margin FX and CFDs work.

There is no clearing house for Margin FX and CFDs, and the performance of Margin FX and CFD by Beirman Capital is not ‘guaranteed’ by an exchange or clearing house.

Our insolvency or default may lead to your positions being liquidated or closed out without your consent. As all deposits lodged with us are held in a segregated client account or accounts, in such circumstances, those deposits would attract all legal protections afforded under the applicable laws. Net unrealised running profits are also held in trust by us (in excess of our contractual and regulatory requirements) and would normally be similarly protected for your benefit as beneficial owner, unless a Court were not to uphold the trust in relation to the net unrealised profits, in which event you would rank as an unsecured creditor of ours in relation to such net unrealised profits. It should also be noted that keeping your funds in a segregated client account does not offer or guarantee absolute protection of your funds in the event of our insolvency or default where there is a deficit in the segregated client account.

Although by dealing with us you will not be dealing in securities, you need to be aware that you may still be subject to the applicable laws.

The obligations to you under the Client Agreement and the margin FX and CFDs are unsecured obligations, meaning that you are an unsecured creditor of ours.

Scalping & High-Frequency Trading (HFT)

Prohibition of VPS-Based High-Frequency Trading (HFT): Clients are strictly prohibited from using Virtual Private Servers (VPS) or any similar technologies for the purpose of engaging in High-Frequency Trading (HFT). The use of automated systems or algorithms designed to exploit latency, pricing inefficiencies, or platform vulnerabilities is not permitted.

Scalping Restrictions: Trades that are opened and closed within 180 seconds (3 minutes) of execution will be classified as scalping trades. Profits generated from such scalping trades will not be eligible for withdrawal. Repeated scalping behavior may result in warnings, restrictions, or termination of trading privileges at the discretion of the firm.

VPS-Based Multi-Location Trading: Trading using VPS or similar services with the intention of simulating access from multiple geographical locations is strictly prohibited. This includes, but is not limited to, the use of VPS to manipulate latency, order execution times, or to mask the true location of trading activity. Any such activity will be considered a breach of trading policy and may result in immediate account suspension or termination.

Compliance Monitoring: The firm continuously monitors trading activity to detect violations of these policies. Any activity deemed suspicious or in breach of the above terms may result in account suspension or closure, profit forfeiture from prohibited activities, and legal action in cases of severe violation.

Manipulative & Abusive Practices

Manipulative Trading: Any attempt to manipulate market prices, including but not limited to spoofing, layering, or any other deceptive trading practices, will be considered abusive trading practices. Beirman Capital reserves the right to reverse or cancel trades suspected of manipulative trading and may take further disciplinary action as deemed necessary, including withholding profit withdrawals for such accounts.

Insider Trading: Engaging in insider trading, which involves the use of material non-public information to gain an unfair advantage in trading, is strictly prohibited. Any accounts found to be involved in insider trading will be subject to immediate closure and may face legal action as per relevant regulations.

Front Running: Front running, the unethical practice of placing orders on behalf of a broker or financial institution based on advanced knowledge of their client’s pending orders, is considered abusive trading. Accounts found to be engaged in front running will be subject to disciplinary action, including the reversal or cancellation of trades and possible account closure.

Wash Trading: Participating in wash trading, where a trader simultaneously sells and buys the same financial instruments to create artificial trading volume or manipulate prices, is prohibited. Accounts found to be involved in wash trading will be subject to disciplinary action, including trade reversal, account suspension, or closure.

Churning: Churning refers to excessive trading conducted by a broker for the purpose of generating commissions without regard for the client’s investment objectives. Beirman Capital prohibits churning and reserves the right to investigate and take appropriate action against accounts suspected of engaging in this practice.

Price Manipulation: Any attempt to artificially manipulate the price of financial instruments, including spreading false rumors or engaging in coordinated trading activities to influence prices, will be considered abusive trading.

News Trading Policy

Prohibition of Exploitative News Trading: Beirman Capital strictly prohibits any trading activity intended to exploit price volatility, platform latency, or execution delays during major economic news releases or high-impact market events. This includes the use of automated systems, Expert Advisors (EAs), or manual strategies designed to take advantage of delayed price feeds, requotes, or temporary market inefficiencies.

Execution Abuse Restriction: Orders placed during major news events that exhibit characteristics of latency arbitrage, off-market pricing, or abnormal execution patterns may be subject to investigation. Beirman Capital reserves the right to cancel or reverse such trades, forfeit any associated profits, and suspend or terminate accounts engaged in such practices.

Definition of News Trading: For the purposes of this policy, news trading refers to opening or closing positions within five (5) minutes before or after a significant scheduled economic announcement (as published on recognized economic calendars) with the intent of profiting from short-term volatility or market inefficiency.

Abusive Trading & Platform Misuse

“Abusive Trading” means any strategy, behavior, pattern, or activity intended to exploit price delays, platform inefficiencies, market gaps, off-market quotes, multi-account structures, latency, high-frequency tactics, or any method that provides the Client with an unfair, artificial or abnormal advantage.

• Latency arbitrage, price-feed exploitation, tick scalping / second scalping
• Cross-account hedging and multi-account manipulation
• Wash trading, coordinated trading, news spike exploitation
• Bonus abuse; EAs or bots designed to reverse-engineer or overload systems
• Platform error exploitation; abnormal trading speeds or volumes

Prohibited Trading Practices

The following are strictly prohibited:

• Latency / Price Arbitrage: trading based on delays, stale quotes, liquidity gaps, fast bridging or VPS latency advantages
• Tick-Scalping: opening and closing trades within seconds to exploit micro-movements, spreads, freeze levels or execution delays
• Cross-Account Hedging: opposite trades on multiple accounts owned by the Client or related persons
• Multi-Account / Identity Abuse: using alternate identities, relatives, entities, shared devices or payment methods to bypass trading rules
• News/Event Exploitation: trading intended solely to exploit volatility during major economic releases
• Automated System Misuse: EAs, bots or scripts designed for arbitrage, price manipulation, excessive order flow or hyper-frequency patterns
• Bonus/Promotion Manipulation: hedging, risk-free trading, or volume farming to withdraw promotional credits
• Platform Error Exploitation: executing trades on off-market prices, feed errors, system freezes or execution malfunctions

Company Rights in Case of Abusive Trading

If we determine that Abusive Trading has occurred, we may, without notice, take any of the following actions:

• Set the account to Reduce-Only mode
• Suspend or block new orders
• Reverse, cancel or adjust trades
• Void part or all profits
• Recalculate account balance
• Delay or hold withdrawals
• Increase margin/leverage requirements
• Disable EAs or automated tools
• Close open positions immediately
• Merge or link related accounts
• Terminate the trading account
• Hold the Client liable for losses caused to the Company

Order Execution, Slippage & Force Majeure

Right to Reject or Delay Orders: The Company may reject, delay, partially fill, modify or restructure orders based on liquidity, pricing, market conditions or internal risk controls. Prices offered are based on the Company’s liquidity providers: we are not required to match external market prices.

Slippage: Orders may experience positive or negative slippage depending on volatility and liquidity. Market Gaps & Volatile Conditions: The Company is not liable for losses arising from market gaps, volatility spikes, weekend gaps, rollover adjustments or corporate actions.

Force Majeure: The Company shall not be liable for any losses resulting from internet outages, platform downtime, server issues, power failures, wars, riots, emergencies, extreme market conditions, natural disasters, or liquidity provider failures. During such events, the Company may suspend trading or alter trading conditions.

KYC, Payments, Affiliates & Account Linking

KYC & Re-Verification: The Company may request updated KYC documents anytime. Failure to provide requested documents may lead to suspension of trading or withdrawal privileges.

Chargeback & Payment Disputes: In case of any deposit dispute or chargeback, profits may be voided, positions may be closed, withdrawals blocked, account terminated, and funds reclaimed.

IB / Affiliate Abuse Protection: The Company may reduce, cancel or refuse rebates or commissions if any of the following occur: self-referrals, rebate pumping, multi-account structures, fake volume generation, coordinated hedging, or client inducement schemes.

Account Linking & Investigation Rights: The Company may identify linked accounts through IP, device ID, cookies, behavior, payment methods or KYC data. Linked accounts may be merged, restricted or investigated.

Platform Access & Final Authority

Platform Access & Connectivity: The Company is not responsible for losses arising from poor internet connection, device malfunction, mobile network issues, or local software problems.

Right to Modify Trading Conditions: We may modify leverage, margin, spreads, symbols, execution settings or contract specifications at any time to protect clients or the Company.

Order Queue & Server Load Abuse: Sending excessive, non-executable or system-draining orders is prohibited. The Company may block or suspend accounts engaging in such activity.

Dormant & Inactive Accounts: Dormant accounts may be charged inactivity fees or closed after prolonged inactivity.

Final Authority: The Company reserves the right to determine, in its sole judgment, whether a Client’s behaviour violates these Terms. Decisions are final.

Negative Balance Policy

If a Client’s account balance becomes negative due to market movements, leverage, price gaps, trading activity, or the removal/reversal of any credit, bonus, or promotional balance, the Client remains fully responsible for the negative balance and must promptly deposit sufficient funds to restore the account balance. The Company reserves the right, without prior notice, to deduct or offset any negative balance from the Client’s wallet balance, other accounts, rebates, commissions, or any funds held with the Company. Clients are solely responsible for monitoring their accounts, maintaining sufficient margin, and managing trading risks at all times.

EA Policy

In order to make EA trading available, clients have to submit a request and acknowledge that they will confirm in advance that they wish to use an EA during account opening or before starting to implement such a strategy. There is no additional charge for this mode of trading. Beirman Capital reserves the right to reverse orders that are executed using EA methods on accounts that are not labelled as EA accounts or where the necessary advance confirmation has not been given.

Electronic Trading Terms

Intellectual Property: All rights in patents, copyrights, design rights, trademarks, and any other intellectual property rights (whether registered or unregistered) relating to the Electronic Services remain vested in us or our licensors. You will not copy, interfere with, tamper with, alter, amend or modify the Electronic Services or any part or parts thereof unless expressly permitted by us in writing, reverse compile or disassemble the Electronic Services, nor purport to do any of the same or permit any of the same to be done, except in so far as such acts are expressly permitted by law.

System errors: We shall have no liability to you for damage which you may suffer as a result of transmission errors, technical faults, malfunctions, or illegal intervention in the network, equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions, or other deficiencies on the part of internet service providers.

Delays: Neither we nor any third-party software provider accepts any liability in respect of any delays, inaccuracies, errors, or omissions in any data provided to you in connection with an Electronic Service.

Viruses: We shall have no liability to you in the event that any viruses, worms, software bombs or similar items are introduced into the system via an Electronic Service, provided that we have taken reasonable steps to prevent any such introduction. You will ensure that no computer viruses or similar items are introduced into our system, and will indemnify us on demand for any loss arising as a result.

Unauthorized use: We shall not be liable for any loss arising from any unauthorised use of the Electronic Service. You shall indemnify us from all losses resulting from any person using an Electronic Service with your designated passwords, whether or not you authorised such use.

Suspension, Idle Prices & Misquotes

We may suspend or permanently withdraw an Electronic Service by giving you 10 days’ written notice. We also have the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use any Electronic Service without notice where we consider it necessary or advisable to do so.

Idle Prices: We have an agency execution model and automatically cover all client positions with executing brokers and liquidity providers. On rare occasions, the aggregated price feed that we provide to clients can become “idle”. We reserve the right to reverse market or instant orders executed where idle prices have been struck.

Misquotes: Although we mitigate the risk of invalid price feeds through a price aggregation system from multiple liquidity providers, there are rare occasions where prices can become “skewed”. In such instances, if orders are filled at these prices, we reserve the right to reverse orders where misquoted prices have been struck.

Stale quotes and misquotes policy: Beirman Capital’s quoted prices may, on rare occasions, become “stale” or “skewed”. Beirman Capital reserves the right to cancel orders executed on idle or skewed prices and will pursue the fair treatment of its Customers.

Company Details

Ground Floor, The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia P.O. Box 838, Castries, Saint Lucia

Website: www.beirmancapital.com