Axis Inc. Client Agreement
Date: Aug 2023

TABLE OF CONTENTS
1INTRODUCTION..................................................................................................................7

2

GENERAL INFORMATION ...................................................................................................8
2.1

PRINCIPAL ..................................................................................................................8

2.2

NO RECOMMENDATION, ADVICE OR OPINION .........................................................8

2.3

ALL TRADES AT YOUR OWN RISK ...............................................................................83

OUR TRADING SERVICE ......................................................................................................94

DEFINITIONS.......................................................................................................................95

INTERPRETATION ...............................................................................................................96

ACCOUNT OPERATION .....................................................................................................10

7

6.1

OPENING ..................................................................................................................10

6.2

ACCOUNT INFORMATION ........................................................................................10

6.3

INTRODUCING BROKER............................................................................................11

6.4

AUTHORISED PERSONS ............................................................................................11

6.5

CHARGES AND CREDIT TO YOUR ACCOUNT ............................................................11

6.6

CORRECT DESIGNATION...........................................................................................12

6.7

INCORRECT CREDITING OF ACCOUNT .....................................................................12

6.8

REPORTING TO YOU.................................................................................................12

6.9

DELIVERY OF CONFIRMATIONS AND STATEMENTS ELECTRONICALLY ....................12

6.10

OPERATING YOUR ACCOUNT THROUGH OUR TRADING PLATFORM ......................12

6.11

DAILY STATEMENTS .................................................................................................13

6.12

MONTHLY STATEMENTS ..........................................................................................13

6.13

CHECKING OF CONFIRMATIONS ..............................................................................13

6.14

CHECKING OF STATEMENTS.....................................................................................14

TRADING...........................................................................................................................14
7.1

NO RIGHTS IN UNDERLYING INSTRUMENT..............................................................14

7.2

INSTRUCTIONS .........................................................................................................14

7.3

INSTRUCTIONS NOT A CONTRACT ...........................................................................15

7.4

NATURE OF QUOTE..................................................................................................15

7.5

AMENDED QUOTES AND MARGIN FX CONTRACTS .................................................15

7.6

CONFIRMATION OF INSTRUCTIONS.........................................................................16

7.7

ACKNOWLEDGEMENT OF INSTRUCTIONS ...............................................................16

7.8

FURTHER INSTRUCTIONS .........................................................................................16

7.9

MINIMIMUM TRADING SIZE ....................................................................................16

7.10

CURRENCY................................................................................................................16

Axis Inc. Client Agreement
Date: Aug 2023

8

9

7.11

POSITION DURATION ...............................................................................................16

7.12

OPPOSING POSITIONS..............................................................................................16

7.13

DIFFERENCE IN BUY AND SELL PRICES .....................................................................17

7.14

PROMOTIONAL EVENTS ...........................................................................................17

7.15

HEDGING DISRPUTIONS ...........................................................................................17

7.16

MARGIN FX CONTRACTS ..........................................................................................17

7.17

CHOICE TO DEAL ......................................................................................................17

7.18

ERRORS IN PRICES ....................................................................................................17

7.19

PRICE, EXECUTION PROCESS AND TRADING MANIPULATION.................................18

7.20

MARKET DISRUPTION: CASH CFDs...........................................................................18

MARGIN ...........................................................................................................................19
8.1

INITIAL MARGIN .......................................................................................................19

8.2

YOUR MARGIN OBLIGATIONS ..................................................................................19

8.3

EXCEPTIONS .............................................................................................................19

8.4

CHANGING MARGIN PERCENTAGE ..........................................................................20

8.5

NOTIFICATION OF CHANGE IN MARGIN PERCENTAGE............................................20

8.6

NO OBLIGATION TO MAKE MARGIN CALL ...............................................................20

8.7

OUR RIGHTS .............................................................................................................20

8.8

LEVERAGE CHANGE..................................................................................................21

DAILY VALUATION............................................................................................................21
9.1

CONTRACT VALUE ....................................................................................................21

9.2

VALUATION ..............................................................................................................21

9.3

ACCOUNT ADJUSTMENTS ........................................................................................21

10 CLOSING POSITIONS.........................................................................................................21
10.1

GENERAL ..................................................................................................................21

10.2 WHEN CAN A MARGIN FX CONTRACT OR CFD (OTHER THAN AN INDEX FUTURESCFD OR A COMMODITY CFD) BE CLOSED?...........................................................................22
10.3

WHEN CAN AN ACCEPTED CONTRACT BE CLOSED? ................................................22

10.4

AUTOMATIC CLOSURE .............................................................................................22

10.5

TIME LIMITS FOR CLOSING.......................................................................................23

10.6

CONTRACT PRICE AT CLOSING .................................................................................23

10.7

CONTRACT VALUE AT CLOSING ...............................................................................23

10.8

CLOSURE DURING BUSINESS DAY ............................................................................23

10.9

TIMING OF PAYMENTS.............................................................................................23

10.10

AUTOMATIC CLOSURE: EXCEPTED CONTRACT ....................................................23

10.11

CLOSURE: LONG AND SHORT CONTRACT ............................................................24

Axis Inc. Client Agreement
Date: Aug 2023

10.12

CLOSURE: TWO OR MORE MARGIN FX CONTRACTS OR CFDS ............................24

11 CLOSE OF BUSINESS ACCOUNTING..................................................................................25
11.1

WHEN WE ACCOUNT ...............................................................................................25

11.2

CONTRACT VALUE ....................................................................................................25

11.3

CONTRACT PRICE AT CLOSE .....................................................................................25

11.4

VALUATION ..............................................................................................................25

11.5 DAILY SWAPS OF MARGIN FX CONTRACTS AND CFDs (OTHER THAN EXCEPTEDCONTRACTS..........................................................................................................................25
11.6

ENTITLEMENT...........................................................................................................26

11.7

LONG MARGIN FX CONTRACTS................................................................................26

11.8

LONG BULLION CFDS................................................................................................26

11.9

SHORT MARGIN FX CONTRACTS ..............................................................................26

11.10

SHORT BULLION CFDS ..........................................................................................26

11.11

REVALUATION OF POSITIONS AFFECTED BY LIMITED HOURS TRADING .............27

11.12

WHEN WE MAKE ACCOUNTING PAYMENTS........................................................27

12 STOP LOSS ORDERS AND LIMIT ORDERS..........................................................................27
12.1

AVAILABILITY OF ORDERS ........................................................................................27

12.2

MARGIN REQUIREMENTS TO FILL ORDERS..............................................................27

12.3

LIABILITY OF LOSSES ARISING FROM ORDERS .........................................................27

12.4

OUR RIGHT TO IMPOSE A STOP LOSS ORDER ..........................................................28

12.5

INFORMING YOU OF ORDERS WE IMPOSE..............................................................28

13 ACKNOWLEDGEMENTS....................................................................................................28
13.1

YOU ACKNOWLEDGE AND AGREE THAT:.................................................................28

14 REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS................................................29
14.1

YOUR WARRANTIES .................................................................................................29

14.2

TRUSTEE OF A TRUST ...............................................................................................30

14.3

NOTIFICATION OF CHANGES....................................................................................32

15 DEFAULT...........................................................................................................................33
15.1

EVENTS OF DEFAULT ................................................................................................33

15.2

CONSEQUENCES OF DEFAULT..................................................................................34

15.3

ADDITIONAL SUSPENSION AND CLOSING RIGHTS...................................................35

15.4

OUR RIGHTS TO CLOSE OR VOID..............................................................................35

15.5

OUR RIGHT TO SUSPEND ACCOUNT ........................................................................35

15.6

CONCLUDE INVESTIGATIONS ...................................................................................36

15.7

EXERCISE OF RIGHTS ................................................................................................36

16 SET OFF.............................................................................................................................36
Axis Inc. Client Agreement
Date: Aug 2023

17 PAYMENTS .......................................................................................................................37
17.1

YOUR PAYMENTS MUST BE THE FULL AMOUNT .....................................................37

17.2

PAYMENTS WE OWE TO YOU AND YOU OWE TO US ARE OFFSET ..........................37

17.3

PAYMENT OF AMOUNTS DUE TO US .......................................................................37

17.4

WITHDRAWING CREDIT FROM YOUR ACCOUNT.....................................................37

17.5

NO SECURITY INTERESTS CREATED..........................................................................38

17.6

PAYMENT TRANSFERRED MUST HAVE FREE TITLE ..................................................38

18 DISPUTE RESOLUTION......................................................................................................38
18.1

PROCEDURE .............................................................................................................38

18.2

CONTINUANCE OF PERFORMANCE..........................................................................39

18.3

WHERE WE MAY COMMENCE LEGAL PROCEEDINGS ..............................................39

19 LIABILITY AND INDEMNITY...............................................................................................39
19.1

EXCLUSION OF LIABILITY ..........................................................................................39

19.2

TRADING PLATFORM................................................................................................40

19.3

INDEMNITY...............................................................................................................40

20 AMENDMENT, ASSIGNMENT AND TERMINATION ..........................................................40
20.1

AMENDING THE AGREEMENT..................................................................................40

20.2

TERMINATION ..........................................................................................................40

20.3

RESERVATION OF RIGHTS ........................................................................................41

20.4

ASSIGNMENT AND DELEGATION .............................................................................41

21 FORCE MAJEURE ..............................................................................................................41
21.1

DEFINITION OF FORCE MAJEURE EVENT .................................................................41

21.2

NOTICE AND SUSPENSION OF OBLIGATIONS ..........................................................42

21.3

REASONABLE ENDEAVOURS ....................................................................................42

21.4

TERMINATION DUE TO FORCE MAJEURE EVENT.....................................................4221.5

ADDITIONAL ACTIONS..............................................................................................42

21.6

LIABILITY...................................................................................................................43

22 TRADING PLATFORM........................................................................................................43
22.1

USE OF INFORMATION, DATA AND SOFTWARE ......................................................43

22.2

MAINTAINING STANDARDS .....................................................................................43

22.3

SYSTEM DEFECTS......................................................................................................44

22.4

INTELLECTUAL PROPERTY ........................................................................................44

22.5

IMMEDIATE SUSPENSION OR PERMANENT WITHDRAWAL ....................................44

22.6

EFFECTS OF TERMINATION ......................................................................................44

23 PROHIBITED TRADING TECHNIQUES................................................................................45
Axis Inc. Client Agreement
Date: Aug 2023

23.1 CIRCUMVENTION, REVERSE ENGINEERING OR USE OF ARTIFICIAL INTELLIGENCE
SOFTWARE ...........................................................................................................................45
23.2

UNLAWFUL TRADING TECHNIQUES.........................................................................45

23.3

ACTION WE MAY TAKE AGAINST PROHIBITED TRADING TECHNIQUES ..................46

23.4

INDEMNIFICATION ...................................................................................................46

24 YOUR PRIVACY AND DISCLOSURE ....................................................................................46
25 CONFIDENTIALITY ............................................................................................................46
26 SURVIVAL OF OBLIGATIONS.............................................................................................47
27 NOTICES ...........................................................................................................................47
27.1

NOTICES MUST BE IN WRITING ...............................................................................47

27.2

PROVISION OF NOTICE.............................................................................................47

27.3

WHEN NOTICES ARE RECEIVED................................................................................47

27.4

CHANGE OF NOTICE DETAILS...................................................................................48

28 GOVERNING LAW AND JURISDICTION .............................................................................4828.1

LAW ..........................................................................................................................48

28.2

JURISDICTION...........................................................................................................48

29 MISCELLANEOUS..............................................................................................................48
29.1

CONSENT TO RECORDING OF TELEPHONE CONVERSATIONS .................................48

29.2

OUR ACTION TO COMPLY WITH THE LAW...............................................................48

29.3

CLIENT MONEY.........................................................................................................48

29.4

DIRECT DEBIT AUTHORISATION ...............................................................................49

29.5

SEVERABILITY ...........................................................................................................50

29.6

INCONSISTENCIES WITH TRANSLATIONS.................................................................50

29.7

RIGHTS AND REMEDIES............................................................................................50

29.8

RIGHTS OF THIRD PARTIES .......................................................................................50

29.9

WAIVER AND VARIATION OF RIGHTS.......................................................................50

29.10

OUR OFFICE AND TRADING HOURS .....................................................................51

29.11

MULTIPLE PARTIES ...............................................................................................51

29.12

TIME IS OF THE ESSENCE......................................................................................51

29.13

LIABILITY FOR EXPENSES ......................................................................................51

29.14

GIVING EFFECT TO TRANSACTIONS .....................................................................51

Axis Inc. Client Agreement
Date: Aug 2023

1 INTRODUCTION
These terms and conditions form part of the agreement between the client (You, Your orYourself) and Axis Inc. (International Business Company Number 24078 IBC 2017) (Axis, We,
Our, Ourselves or Us). They govern Our dealings with You in relation to Our Products andServices.
You should carefully read this Agreement in its entirety, including all documents listed
below, as well as Our Privacy Policy on Our website.
The Agreement between You and Us is constituted by the following documents:•

The Application Form•

The Products Disclosure Statement (PDS)•The Product Schedule; and•The terms and conditions set out in this agreement, and any additional terms andconditions issued by Us and accepted by You in connection with Our dealings with
You (together, the Agreement).

The following documents explain the basis of Our dealings with You but do not form part of
the Agreement:•

Our Privacy Policy;•

Our Website, which includes Our Trading Platform.

All transactions You enter into pursuant to the terms and conditions of this Agreement
carry a high level of risk and can result in losses that exceed Your initial deposit. A moredetailed explanation of the risks is described in section 5 of the PDS (Risk Warning). You
should ensure that You fully understand such risks before entering this Agreement and any
transactions with Us.
By signing and returning or electronically submitting the Application Form or by taking any
action consistent with agreeing to these terms and conditions, You are confirming that You:•

Have received, read and understood this Agreement, including Our current PDS; and•Agree that We will provide Our Products and Services to You on the terms andconditions of this Agreement.

When We open an account for You, You will be bound by the Agreement in all Your dealings
with Us. Contracts that arise out of the transactions We conduct with You under thisAgreement are legally binding and enforceable.
You must therefore read this Agreement carefully and seek professional advice if necessary.
You should particularly take note of the clauses which deal with Margin, those that set out
the rights to terminate and/or close out a Position and those that relate to the terminationof this Agreement and closing of Your Account, as You need to clearly understand theseimportant terms and the implications arising from Your failure to comply with these terms.

Axis Inc. Client Agreement
Date: Aug 2023

2 GENERAL INFORMATION
2.1 PRINCIPAL
We act as Principal in all Our dealings with You. Accordingly, We will be the counterparty toall of Your trades.
Unless We otherwise agree in writing, You will also deal with Us as principal, and not as anagent or representative of another person.
If You act on behalf of a principal, whether or not You identify that principal to Us, such
Principal will not be a client and We do not deal with You unless We otherwise agree in
writing (on satisfaction of Our requirements).
If You are a principal and wish to deal with Us through Your agent, You agree that We will beentitled to rely on any instructions given to Us by the agent in relation to Your Account. But,
from time to time, We may require confirmation that the agent has the authority to act onYour behalf.

2.2 NO RECOMMENDATION, ADVICE OR OPINION
We do not make or give any recommendation, advice or opinion. We deal with You on an
execution-only basis only. We do not take into account Your particular financial situation orgoals. You should obtain Your own independent financial, legal, taxation and otherprofessional advice before entering into this Agreement or any Margin FX Contract or CFD.

2.3 ALL TRADES AT YOUR OWN RISKWe are under no obligation:(a) To satisfy Ourselves as to the suitability of any Position for You (see section 2 of the
PDS for Our general client suitability obligations);(b) To monitor or advise You on the status of any of Your Positions;(c) To prevent You from trading beyond Your means or ability or to protection You; or(d) To close any open Position.
All trades will, therefore, be made at Your own risk and to the maximum extent permitted
by law, We will not be in any way liable for any claims, damages, losses (including
consequential losses) or injury suffered or incurred by You as a result arising out of any
statement, information, or communication provided by, or on behalf of, Us or any financial
adviser:a.

relating to a trade entered into, or proposed trade to be entered into by You
under this Agreement; orb. In relation to any financial product that You may deal in under thisagreement.
For further information on the risks associated with Our Products and Services, please referto section 5 of Our PDS.

Axis Inc. Client Agreement
Date: Aug 2023

3 OUR TRADING SERVICE
Our trading service is an online service. You specifically consent to the receipt of documents
and information about Us and Our Services, costs and charges and Our notices via email,website or other electronic means. Upon Your request, We will send You the PDS in paper
form at no charge.
You undertake that in the event that You are unable for any reason whatsoever to open or
close a Position because of technical difficulties You may be having with Our Trading
Platform, You will immediately telephone Us. Our contact details can be found on the“Contact Us” page of Our website.

4 DEFINITIONSIn this Agreement, capitalised terms and expressions have, unless the context otherwise
requires, the meaning given to in the PDS.

5 INTERPRETATION(a) In this Agreement, unless the context otherwise requires:a. references - a reference to:i. gender - one gender includes the other;ii. number - the singular includes the plural and the plural includes the
singular;iii. provisions - a recital, clause, schedule or annexure is a reference to aclause of or recital, schedule or annexure to this Agreement andreferences to this Agreement include any recital, schedule orannexure;
iv. agreements - any contract (including this Agreement) or other
instrument includes any variation or replacement of it and as it may
be assigned or novated;
v. legislation - a statute, ordinance, code or other law includes
subordinate legislation (including regulations) and other instruments
under it and consolidations, amendments, re-enactments or
replacements of any of them;vi. entities - a person or entity includes an individual, a firm, a body
corporate, a trust, an unincorporated association or an authority;vii. persons - a person includes their legal personal representatives(including executors), administrators, successors, substitutes(including by way of novation) and permitted assigns;
viii. group - a group of persons is a reference to any two (2) or more ofthem taken together and to each of them individually;

Axis Inc. Client Agreement
Date: Aug 2023

ix. bodies - an entity which has been reconstituted or merged means the
body as reconstituted or merged, and to an entity which has ceased
to exist where its functions have been substantially taken over byanother body, means that other body;(b) no agency - unless expressly stated, no party enters into this Agreement as agent for
any other person (or otherwise on their behalf or for their benefit);(c) inclusion - the meaning of any general language is not restricted by any
accompanying example, and the words ‘includes’, ‘including’, ‘such as’, ‘for example’or similar words are not words of limitation;(d) headings - headings and the table of contents are for convenience only and do notform part of this Agreement or affect its interpretation;(e) periods - if a period of time is specified and dates from a given day or the day of anact or event, it is to be calculated exclusive of that day;(f) timing - the time between two (2) days, acts or events includes the day of occurrenceor performance of the second (2nd) but not the first (1st) day act or event;(g) action - if the last day for doing an act is not a Business Day, the act must be done
instead on the next Business Day; and(h) examples – if an example is given of anything (including a right, obligation orconcept) such as by saying it includes something else, the example does not limit thescope of that thing.
(i) Inconsistency – if there is any inconsistency between a Confirmation and thisAgreement, the Confirmation will prevail.
(j) construction - a provision of this Agreement must not be construed to thedisadvantage of a party merely because that party was responsible for the
preparation of this Agreement or the inclusion of the provision in this Agreement.

6 ACCOUNT OPERATION
6.1 OPENING
After We accept Your Application, We will open an Account in Your name. The
Account may be split into different sub-accounts denominated in different currencies
or commodities. Reference in this Agreement to Your Account are taken to include
reference to sub-accounts or the relevant sub-accounts as the case may be.
We may, at Our absolute discretion, refuse to open an Account for any reason We
consider appropriate. Each Account will have a Base Currency.

6.2 ACCOUNT INFORMATION(a) You undertake and warrant to Us that any information provided to Us at any
time is accurate, true and correct and that You will immediately inform Us of
any changes to that information.

Axis Inc. Client Agreement
Date: Aug 2023

(b) You are required to keep confidential all security information relating to Your
Account, including but not limited to any username, account number, user ID
and password. Once You have established this security information, We haveno obligation to verify the authority of anyone using this information tooperate Your Account. If You are aware or suspect that these items are nolonger confidential, You should contact Us immediately.

6.3 INTRODUCING BROKER
You understand and agree that if Your Account with Us is introduced by an
Introducing Broker, the Introducing Broker:(a) Does not have the right to enter into any trades on Your behalf (unless they
are an Authorised Person);(b) May be authorised by Us to view trades on Your Account.

6.4 AUTHORISED PERSONS
You may, by written notice to Us, change the persons who are authorised to give Us
instructions on Your behalf. This can include an Introducing Broker, but We will
require an authorisation by You under a power of attorney or other permissible
evidence of authority granting such Introducing Broker the right to trade on Your
Account. You agree to produce the original of any such power of attorney or otherpermissible evidence of authority to Us on request (or a copy that has been certified
as a true copy in a manner acceptable to Us).
We are not bound to act according to any such variation until We receive written
notice and agree to such requested change. We are also under no obligation to verify
the authority of any person who purports to be authorised by You in connection withthis Agreement.

6.5 CHARGES AND CREDIT TO YOUR ACCOUNT(a) You agree to pay Us the interest, charges and fees as specified in thisAgreement from time to time and receive the benefits set out in thisAgreement.
(b) Any charges will be deducted from Your Account the day following the day on
which the charges were incurred, and benefits will be paid the day on which
they are derived. Deductions from Your Account will be made any time
without notice or recourse to You.
(c) If We discover that We have made an error in respect of any fee calculation,
We will rectify that error by giving You written notice within twenty-eight (28)days.
(d) If a Position is closed at a loss, that loss will immediately be deducted fromYour Account and Your available trading resources will be adjusted
accordingly.
(e) If a Position is closed at a profit, that profit will immediately be credited toYour Account and Your available trading resources will be adjusted
Axis Inc. Client Agreement
Date: Aug 2023

accordingly, subject to this clause 6 (Account Operation) and clause 7(Trading).

6.6 CORRECT DESIGNATION
It is Your responsibility to ensure that monies sent to Us are correctly designated in
all respects, including, where applicable, that the monies are by way of Margin andto which of Your Accounts they should be applied. We will provide You from time totime with details of such arrangements as may apply to making payments to Us,
which may include permitting payments in different currencies as notified by Us toYou.

6.7 INCORRECT CREDITING OF ACCOUNT(a) Limitation of liability: Except in the case of Our fraud, We do not accept
responsibility for, nor are We liable for, any loss or damage suffered by You as aresult of You trading on monies deposited in or credited to Your Account in error by,or on behalf of Us.
(b) Permitted deductions: We are entitled at any time to deduct, without notice or
recourse to You, any monies deposited in, or credited to, Your Account in error or on
behalf of Us.

6.8 REPORTING TO YOU
We will provide You with Confirmations and Reports via Our Trading Platform or byemail.
Any confirmation or Report will, in the absence of obvious error, be conclusive unless
You notify Us in writing to the contrary within two (2) Business Days of theConfirmation or Report being issued. You will access and use the Trading Platform toconfirm all Your Positions with U, to download and view the Confirmations andReports and to monitor Your obligations under this Agreement.

6.9 DELIVERY OF CONFIRMATIONS AND STATEMENTS ELECTRONICALLY
At any time, You execute a transaction with Us, a confirmation of the executed trade
will appear in the Trading Platform. Daily and monthly statements will also be madeavailable to You through the Trading Platform following their respective trading
periods. You may print thee daily and monthly statements for Your records.

6.10 OPERATING YOUR ACCOUNT THROUGH OUR TRADING PLATFORM
When using Our Trading Platform, Your Positions may be viewed at any point in realtime, as well as deals, orders, pending orders and available statements using thedealing platform. You agree to use the Trading Platform to:•

Confirm all transactions entered into with Us; and•Monitor Your obligations to Us.

We may make available to You documents, including those which have the effect ofamending the Client Agreement by either:
Axis Inc. Client Agreement
Date: Aug 2023

•Sending them to Your email address or other means;•

Posting them on Our Website;•

Sending a link to the relevant document by either email or other electronicmeans; or•

Sending them as otherwise permitted by law.

6.11 DAILY STATEMENTS
Following Our end of day settlement time, provided You have dealt with or have an
open Position, or a balance, We will electronically produce a daily statement which
will be emailed to You and made available on the Trading Platform. Daily Statements
include details of:•Your open Positions;•Your new Positions;•

The opening cash balance on Your Account, together with details of Accountmovements such as deposits, withdrawals or settlements;•

Your closing Account balance for the day;•Profits or losses made on Open Positions (Your open trade equity);•

The value of Your Positions and movements on Your Account in the currency inwhich Your Account is denominated, indicating, where appropriate the consolidated
rate used;•

Other items affecting Your Account such as Rollover Benefits or Rollover Charges
applied to Your Account;•Your Total Margin Requirement; and•Your Margin excess or deficit.

6.12 MONTHLY STATEMENTS
Following month end, We will email You Your trading statement. The tradingstatement will also be available on the Trading Platform. This will provide the samedetails as the daily statements but cover all account movements and Positions open
for the month.

6.13 CHECKING OF CONFIRMATIONS
It is crucial You check all the contents of the Confirmations of Your trades and You
contact Us immediately if You disagree with any of their contents. The Confirmation
will, in the absence of manifest error, otherwise be conclusive. The time from which
You must contact Us commences from time to time the Confirmation is available on
the Trading Platform, although We may also send the documents to You electronically
via email.

Axis Inc. Client Agreement
Date: Aug 2023

6.14 CHECKING OF STATEMENTS
It is crucial that You check all the contents of the daily statements and monthly
statements in detail. If You disagree with any of the content, You must contact Uswithin three (3) Business Days. In the absence of manifest error, these documents will
be conclusive unless You notify Us in writing of the contrary within three (3) Business
Days.
The three (3) Business Days commence from the time the document is available on
the Trading Platform, although We may also send the document to You electronically
via email.
The summary of Your financial position will provide You with Your Margin Position,and indicate to You whether You are approaching Your minimum Total Equity
balance. It will also indicate the excess funds available, if any, that You may either
use to open new Margin FX Contracts or CFD Positions or withdraw. It is very
important that You remain aware of Your daily Total Equity balance, Your Total
Margin Requirement for Your open Position(s) and any Free Equity available.

7 TRADING
7.1 NO RIGHTS IN UNDERLYING INSTRUMENT
A trade does not entitle You to any rights in relation to the Underlying Instrument
being traded and You will not be entitled to delivery of the Underlying Instrument; norwill You acquire any ownership or other such rights in relation to it.

7.2 INSTRUCTIONS(a) By internet:
a. You may open or close a Position and execute Limit orders and Stop
Loss orders on a trade opened with Us via Our Trading Platform.
b. We will have no liability to You if any internet connection is lost withthe result that You are unable to trade at any given price.
c. We do not warrant the Trading Platform will be available or accessible
when the exchanges on which the Underlying Instrument in respect ofwhich You have traded or wish to trade are open and We reserve theright altogether to reduce the Trading Platform service at any time forany purpose without thereby incurring any liability to You.
d. If Our computer records are at a variance with Your own records orrecollection of Your trading, the version of events recorded
contemporaneously by Our computer will prevail and Our obligations
to each other (including the obligation to pay any money) will beassessed and calculated on the basis Our records are correct andconclusive evidence of the matters they record.
e. Subject to clause 7.3, any order or instruction sent by You via theinternet will only be deemed to have been received and will only thenconstitute a valid instruction and binding Margin FX Contract or CFD
between You and Us when such order or instruction has been recorded
and accepted and confirmed by Us to You.
Axis Inc. Client Agreement
Date: Aug 2023

(b) If You execute an order on the Trading Platform, You are deemed to be making
an offer to trade at the price quoted. A Product contract and the quoted priceoffered by You will not be binding until Your order has been accepted andconfirmed by the Trading Platform. We reserve the right to decline to enter
into any Position proposed by You and are under no obligation to provide You
with a reason. We will, however, provide You with prompt notice inaccordance with clause 22 (Trading Platform) of this document in such event.
(c) We may, from time to time, require Your instructions in respect of any Positionor proposed Position. You must promptly provide Us with those instructions
through the Trading Platform. If You do not, We may, in Our absolute
discretion, take all steps We consider reasonably necessary for Our or Your
protection, which will be at Your cost.

7.3 INSTRUCTIONS NOT A CONTRACT
When You transmit an order or instruction to Us, this does not automatically give rise
to a binding Margin FX Contract or CFD between You and Us because any order madeby You is always subject to Us accepting Your offer and such order having beenrecorded as accepted and confirmed by Us to You. You are responsible for inquiring of
Us if a Confirmation is expected in relation to a transaction, but has not been received
by You.

7.4 NATURE OF QUOTE
A quote given to you by one of our traders is not an offer to contract. If you indicatethat you wish to trade at the price quoted you will be deemed to be making an offer
to trade at the quoted price and our trader will be entitled to confirm or reject thatoffer. No trade will be effective unless and until such confirmation is given.

7.5 AMENDED QUOTES AND MARGIN FX CONTRACTS
When You make a request to place an order outside the normal trading size, We may:(a) Provide an amended quote of the Contract Price originally quoted by Our
Trading Platform; and/or(b) Make the quote subject to special conditions and requirements
as We consider fair and reasonable and as notified to You by Us at the time of theorder being considered by Us.
This may occur, for example, when You place an order outside the Normal Trading
Size, or the aggregate of Your order and all other orders for a Margin FX Contract or
CFD is outside the Normal Trading Size, or to take account of any change in market
conditions since the original quote. Such amended Contract Price will be determinedby Us as We consider fair and reasonable having regard to the applicable prices andcosts of entering into a transaction of that size on the relevant market.
You will not be obliged to proceed with any order for which special conditions andrequirements are notified to You by Us. For example, We may quote a revised priceapplicable to the proposed Margin FX Contract or CFD which You may, at Your

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absolute discretion, accept or reject. The amended quote may no longer be available
if there is any delay in acceptance.

7.6 CONFIRMATION OF INSTRUCTIONS
Although We are not obliged to, We may also require confirmation of any order or
instruction:(a) If any instruction is to close an Account or remit money to You; or(b) Otherwise, if it reasonably appears to Us that confirmation is necessary or
appropriate.

7.7 ACKNOWLEDGEMENT OF INSTRUCTIONSInstructions may be acknowledged orally or in writing by Us, as appropriate.

7.8 FURTHER INSTRUCTIONS
We may require instructions from You in respect of any Margin FX Contract or CFD or
proposed Margin FX Contract or CFD and if We do, You must promptly provide Us withsuch information. If You do not, We may in Our absolute discretion take all suchreasonable steps at Your cost as We consider reasonably necessary or desirable for
Our or Your protection. However, this does not detract from Your responsibility tokeep Yourself informed at all times as to the key dates and events effecting Your
Margin FX Contracts and CFDs.

7.9 MINIMIMUM TRADING SIZE
The size of Your Position must exceed the Minimum Trading Size.

7.10 CURRENCY(a) All Positions will be entered into in the currency specified for the trade and will
be converted into the Base Currency of Your Account at the live Exchange Ratefor the purposes of calculating the components of Your account summary.
(b) All payments made by You to Us and by Us to You will be converted into theBase Currency of Your Account unless otherwise agreed.

7.11 POSITION DURATIONWith the exception of Cash CFDs and Commodity CFDs, a Position has no inherent
limit to its duration and, subject to the payment of Margin and other relevant sums,
can continue indefinitely. Without limitation, any Position opened by You may beclosed by Us at the prevailing rate in the event of an Event of Default.

7.12 OPPOSING POSITIONS
You may run opposing Positions in the same market. A Position in a market where You
have an opposing Position already open may be deemed to be an instruction to closeout the earlier Position (to the extent of any overlap).

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7.13 DIFFERENCE IN BUY AND SELL PRICES
You understand and acknowledge that there may be a wider difference between“buy” and “sell” prices You are quoted on closing a Position than when it was opened.

7.14 PROMOTIONAL EVENTS
Axis Inc. may run promotional events from time to time in relation to its Products.
Each promotion is subject to its unique terms which may vary the terms andconditions of this Client Agreement. Clients must accept all terms and conditions of
the promotion before You participate. If You do not agree with part or all the terms ofeach promotion, You will not be eligible to participate.

7.15 HEDGING DISRPUTIONS
In some circumstances, We may be unable, after using all reasonable efforts, toacquire, substitute, maintain, unwind or dispose of an underlying hedge position We
consider necessary to hedge or protect Our exposure to the market and other risks
arising from an open Position. In such circumstances, We may, at Our absolute
discretion, close that open Position at the Contract Price.

7.16 MARGIN FX CONTRACTS(a) Contract Unit: of a Margin FX Contract will be a bid or offer price (whichever isapplicable) calculated by Us by applying Our markup to the Interbank Rate.
(b) If the Specified Date of a Margin FX Contract is other than a date generally quoted in
the market, We will calculate the Interbank Rate from the available market prices forother value dates as We consider representative, fair and reasonable.

7.17 CHOICE TO DEAL
Except where:(a) We exercise any of Our rights to close out a Margin FX Contract or CFD; or(b) A Margin FX Contract or CFD closes automatically;
it is Your responsibility to decide whether or not You wish to deal at those prices. If
You decide to deal at the prices indicated by Us, You may make an offer to Us to deal
at that price. We may choose, in Our absolute discretion, whether to accept or reject
any offer to deal made by You.

7.18 ERRORS IN PRICES(a) It is possible that material errors, omissions or misquotes (Material Error) may
occur in relation to Margin FX Contracts or CFDs, which by fault of neither ofUs or any third party, is materially incorrect when taking into account market
conditions and quotes in Underlying Instruments which prevailed at the time.
A material error may include an incorrect price, date, time or othercharacteristic of a Margin FX Contract or CFD or any error or lack of clarity of
any information. If a trade is based on a Material Error, We reserve the rightwithout Your consent to:

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a. Amend the terms and conditions of the Margin FX Contract or CFD toreflect what We consider to have been the fair price at the time theMargin FX Contract or CFD was entered into had there been nomaterial error;b. Close the trade and any open Position resulting from it;c. Void the Margin FX Contract or CFD from the outset; ord. Refrain from taking action to amend or void the Margin FX Contract or
CFD.
(b) We will exercise the right in clause 7.18(a) reasonably, in good faith and assoon as reasonably practicable after We become aware of the Material Error.
To the extent practicable, We will give You prior notice of any action We takeunder this clause. However, if this is not practicable, We will give You notice assoon as practicable afterwards. In the absence of fraud on Our part, We are
not liable to You for any loss, cost, claim, demand or expense that You incur orsuffer (including loss of profits or indirect or consequential loss), arising fromor connected with the Material Error including where the Material Error arisingfrom an information service on which We rely.
(c) In the event that a Material Error has occurred and We exercise Our rights
under clause 7.18(a), We may, without notice, adjust Your Account or requirethat any monies paid to You in relation to the Margin FX Contract or CFD thesubject of the Material Error be repaid to Us as a debt due payable to Us on
demand.

7.19 PRICE, EXECUTION PROCESS AND TRADING MANIPULATION
If We reasonably believe that You have manipulated Our prices, Our execution
processes or Our Trading Platform, We may, in Our sole and absolute discretion,
without notice to You:(a) Enforce the trade(s) against You if it is a trade which results in You owing
money to Us;(b) Treat some or all of Your trades as void from the outset if they are trades
which result in Us owing money to You unless You produce conclusive
evidence within thirty (30) days of Us giving You notice under this clause that
You have not committed any breach or warranty, misrepresentation orundertaking in this Agreement;(c) Withhold any funds suspected to have been derived from any such activities;(d) Make any resultant corrections or adjustments to Your Account;(e) Close Your Account; and/or(f) Take such other action as We consider appropriate.

7.20 MARKET DISRUPTION: CASH CFDs(a) If We reasonably believe that We can no longer perform our obligations under the
CFDs on the same economic basis as the Underlying Instrument that the terms of theContract was originally entered into because of a supervision or halt in the
Underlying Market for an Underlying Instrument, then We will give notice to You ofthat fact and will, at Your request, provide you with reasonable evidence of suchcircumstances, although our determination will be conclusive.
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(b) At any time following our giving of notice to you under this clause, We may halt
trading and the use of Client Money in the CFD.

8 MARGIN
8.1 INITIAL MARGIN
You are required to pay the Initial Margin for a Position as calculated by Us upon
placing a trade that creates an open Position.

8.2 YOUR MARGIN OBLIGATIONS(a) You must pay to Us such amounts of Margin as We may require under thisAgreement. Your failure to pay any Margin or comply with your obligations inconnection with Margin as required under this Agreement will be regarded as
an Event of Default.
(b) It is Your sole responsibility to monitor at all times through the Trading
Platform any notification that We may, but are not obliged to, provide, theMargin deposited or any Minimum Margin requirement under this Agreement
having regard to such matters as:a. Your open Positions;b. The volatility of any relevant Underlying Instruments;c. The volatility of the Underlying Market and the markets generally;d. An applicable Exchange Rate risk; ande. The time it will take for You to remit sufficient cleared funds to Us.
(c) You must always ensure Your Account balance meet the higher of the Margin
Requirement or the Minimum Margin Requirement;(d) We may, in Our absolute discretion, provide You with further time to meet Your
Margin Requirements. Such permission will only be effective once confirmed inwriting by Us only to the extent specified in Our notice, and in accordance with clause
27 (Notices) of this Agreement.

8.3 EXCEPTIONS
The requirements imposed under clause 8.1 and 8.2 will vary in the following
circumstances:(a) We have expressly advised You in writing that You have an Account type thatallows for longer payment periods for Margin, in which case you must pay
Margin in accordance with the payment periods that We have advised You;(b) We have expressly agreed to reduce or waive a part of the Margin that We
would otherwise require You to pay Us in respect of a trade; the period of
waiver or reduction may be temporary and must be agreed in writing by Us.
Any such agreement will not restrict Our right to seek further Margin in
respect of the trade or open Positions at any time thereafter;

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(c) We agree other than in writing, in which case You will be required to comply
with such terms and conditions as stated in such written agreement;(d) When You hold open Position in a Margin FX Contract or CFD and you place
one or more trades in the opposite direction in a Margin FX Contract or CFD
with the same Underlying Instrument, your Margin Requirement for all open
Positions with the same Underlying Instrument is the larger of the aggregate of
the Margin Requirements for all Long Positions or the aggregate of the Margin
Requirements for all Short Positions;(e) We agree otherwise in writing for certain Margin FX Contracts or options or
option related instruments.
In the case of your continuous Margin obligation set out in clause 10.2, you will not be
required to pay it if We have extended you a credit facility, and You have sufficientcredit to cover Your Margin Requirements. However, if at any time the credit facility is
not sufficient to cover the Margin Requirement on Your open Positions You must
immediately place additional funds in your Account in order to fully cover the Margin
Requirements.

8.4 CHANGING MARGIN PERCENTAGE(a)
We may vary the Margin Percentage in respect of any Position at any time atour discretion, without prior notice, including without limitation, subsequentvariation of any Margin rates set at any time that a transaction is opened.
(b)
Any variation of the Margin Percentage and/or increase in Margin or
Minimum Margin Requirement will be due and payable immediately on Our
demand, subject to clause 8.2(d) above

8.5 NOTIFICATION OF CHANGE IN MARGIN PERCENTAGE
We will notify You of a change in the Margin Percentage by any of the followingmeans: telephone, post, fax, email, text message or by posting notice of increase on
Our Website or Electronic Service. Any increase in Margin arising from an increase in
the Margin Percentage will be due and payable immediately on notice to You
including any deemed notice in accordance with clause 27.

8.6 NO OBLIGATION TO MAKE MARGIN CALL
Notwithstanding any other terms of any document, We are not under any obligation at
any time to keep You informed of Your Account balance and required Margin by making
any Margin Call.

8.7 OUR RIGHTS
In addition to the requirements set out in clauses 8.1 and 8.2, if at any time Total
Equity less aggregate Margin Requirement is at or below 50% of the aggregate Margin
Requirement, whilst it is not an Event of Default, we may (but are not obliged to) close
some or all of your open Positions at our absolute discretion. We will not be
responsible for any losses you may suffer or incur in connection with any such closing

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of your open Position or any lack of closing thereof, however adjustments could be
provided at our discretion.

8.8 LEVERAGE CHANGE
In order to prevent unwanted losses due to sudden market fluctuations, We offer leverageof up to 500:1 for account balances of no higher than USD $50,000 (or equivalent). Where
your account balance exceeds USD$50,000 or equivalent, your account leverage will bechanged accordingly and you will be notified in accordance with clause 8.5.

9 DAILY VALUATION
9.1

CONTRACT VALUE
We will calculate the Contract Value for each Position, as at each Valuation Timeduring the term of a Position. The Contract Price for each Position at the Close of
Business is to be calculated, in respect of each relevant Product, in accordance withsections 3, 5 and 7 of the PDS and the Product Schedule.

9.2 VALUATION
If, at any Valuation Time:(a)
The Contract Value exceeds the Contract Value at the preceding Valuation
Time, the Short Party will pay to the Long party the value of such excess;(b)
The Contract Value at the preceding Valuation Time exceeds the current
Contract Value, the Long Party will pay to the Short Party the value of such excess.

9.3 ACCOUNT ADJUSTMENTS
Any payments due under this clause 9 will, subject to clause 16 (Set Off) of thisAgreement, be made by Us by debiting or crediting the Account with effectimmediately after the relevant Valuation Time.

10 CLOSING POSITIONS
10.1 GENERAL(a)
You may provide instructions through the Trading Platform to close out a
Position at any time. We will act on those instructions as soon as reasonably
practicable.
(b)
Details of the last day and time for closing out a Position are available uponrequest. It is Your responsibility to be aware of the last day and time for closing out aparticular Position as set out in the Product Schedule, on the Website, and available
on the Trading Platform.
(c)

The close out provisions are set out in section 5 of the PDS.

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10.2 WHEN CAN A MARGIN FX CONTRACT OR CFD (OTHER THAN AN INDEX FUTURESCFD OR A COMMODITY CFD) BE CLOSED?
A Margin FX Contract or CFD (other than an Index Futures CFD or a Commodity CFD,
which are together referred to in this clause as “Excepted Contracts”) may be closed
out if:(a) You provide Us with instructions to close a Margin FX Contract or CFD otherthan an Excepted Contract by requesting to enter into an equal and opposite
Contract irrespective of the date on which either Contract closes automaticallyunder clause 10.4 as follows:a. Single Position Closing: a single open trade Position can be requested to
be closed by choosing the close button on line. The Contract maybe
closed and offset by the opposite trade; orb. Close by Opposite Positions: You can choose to request the close a
Position by an opposite Position by will appear in Your trade account.
You can choose to request offset of the trades at a later time when You
prefer.
(b) We may exercise any of Our rights under this Agreement to close a Margin FX
Contract or CFD other than an Excepted Contract at any time before theContract closes automatically under clause 10.3

10.3 WHEN CAN AN ACCEPTED CONTRACT BE CLOSED?
An Excepted Contract ay be closed out if:(a) You give instructions to request to close an Excepted Contract by requesting toenter into an equal and opposite Contract with the same Specified Date as
follows:
a. Single Position Closing: a single open trade Position can be requested to
be closed by choosing the close button on line. The Contract maybe
closed and offset by the opposite trade; orb. Close by Opposite Positions: You can choose to request to close a
Position by an opposite Position but not offsetting the two trades. You
can request execution of an opposite trade and both long and short
Positions will appear in Your trade account. You can choose to request
offset of the trades at a later time when You prefer.
(b) We may exercise any of Our rights under this Agreement to close an Excepted
Contract at any time before the Contract closes automatically under clause
10.4.

10.4 AUTOMATIC CLOSURE(a) A Position may automatically close on the fifth (5th) anniversary of the date on
which the Position was first entered into unless the Position has already beenclosed in the circumstances described in clause 10.1 above.
(b) Margin FX Contracts and CFDs (other than Excepted Contracts): Subject toclauses 10.11 and 10.12, Margin FX Contracts and CFDs other than Excepted
Contracts close automatically at Close of Business on that Business Day andthis will not affected the automatic closing of a contract under clause 10.4,
with effect that the five (5) year will run from the date on which the contract
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was first entered into and when such contract closes automatically underclause 10.4 it will not be reopened in accordance with this clause 10.4.

10.5 TIME LIMITS FOR CLOSING
Details of the last day and time for closing out a Margin FX Contract or CFD are
available on request. It is Your responsibility to be aware of the last day and time forclosing out a particular Margin FX Contract or CFD.

10.6 CONTRACT PRICE AT CLOSING
Where:(a) We exercise any of Our rights under this Agreement to close a Margin FX
Contract or CFD;(b) A Margin FX Contract or CFD closes automatically under clause 10.4 of thisAgreement,
We will determine the Contract Price at the time of closing in accordance with thecurrent prices then being quoted by Us, but, except where the Margin FX Contract or
CFD to be closed is outside the Normal Trading Size, Our additional markup used in
calculating the Contract Price will not exceed 20% or one cent (or equivalent currencyunit), whichever is the greater.

10.7 CONTRACT VALUE AT CLOSING
A Margin FX Contract or CFD will close at the Contract Value at the time of closing as
calculated by Us, which will equal: Contract Price x Contract Quantity and as notified
by You.

10.8 CLOSURE DURING BUSINESS DAY
Where a Margin FX Contract or CFD has been closed out during a Business Day,clauses 10.4 and 10.5 of this Agreement will continue to apply to Your long and short
Positions in the particular Underlying Instrument until Close of Business on suchBusiness Day and will apply to the balance of Your outstanding long or short Position(if any) in the relevant Underlying Instrument with the effect immediately after Closeof Business on such Business Day.

10.9 TIMING OF PAYMENTS
Any payments due by either Us or You under this clause 10 in respect of dates on orafter the Closing Date will be made by Us debiting or crediting Your Account at Closeof Business on the Settlement Date. If You have insufficient funds in Your Account tomeet a payment obligation, You must immediately pay to Us as a debt an amountequal to the shortfall.

10.10 AUTOMATIC CLOSURE: EXCEPTED CONTRACT
Subject to clauses 10.4, 10.11 and 10.12, an Excepted Contract will close automaticallyat Close of Business on the Specified Date and not on the daily Close of Business:(a) If the period from the date of the transaction to the Specified Date of the
Except Contract is, or is part of, a market standard period during which
equivalent contracts are traded on the relevant exchange, as reasonably
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determined by Us, such Excepted Contract will be replaced with effectimmediately after Close of Business on the Specified Date by an equivalent
Excepted Contract or Margin FX Option for the same market standard period
to the replacement Specified Date. The Opening Value of that replacement
Excepted Contract must equal the current Contract Price of the replacement
Excepted Contract, multiplied by the applicable Contract Quantity. The
provisions of this Agreement will then apply to such Excepted Contract, but
this will not affect the automatic closing of an Excepted Contract under clause
10..3 with effect that the five (5) year period will run from the date on which
the original Excepted Contract was first entered into, and when that Excepted
Contract closes automatically under this clause 10.9.
(b) When an Excepted Contract is closed by another Excepted Contract under thisclause 10.10 at the Close of Business on the Specified Date of the original
Excepted Contract, We will calculate the difference between the Closing
Contract Value of the original Excepted Contract as determined by Us underclause 10.6 and the Opening Value of the replacement Excepted Contract andWe will:a. If the amount calculated as the Contract Value is greater than theamount calculated as the Opening Value, credit the difference to the
Account; and/or
b. If the amount calculated as the Opening Value is greater than theamount calculated as the Contract Value, debit the difference fromYour Account.

10.11 CLOSURE: LONG AND SHORT CONTRACT
If You are long and short a Margin FX Contract or CFD, with effect immediately after
Close of Business on the Closing Date, We will close the relevant long and short
Positions and record in Your account the balance, if any, of Your then outstanding longor short Position in the Contract, as appropriate. If there is more than one Contract inrelation to the particular Underlying Instrument, or in the case of Index Future CFDs or
Commodity CFDs in relation to the Underlying Instrument with the same Specified Date,
We may close out whatever Contract We consider appropriate.

10.12 CLOSURE: TWO OR MORE MARGIN FX CONTRACTS OR CFDS
Where You have two or more Margin FX Contracts of CFDs:(a) Which are in respect of the same Underlying Instrument or in the case of Index
Future CFDs or Commodity CFDs are in respect of the same Underlying
Instrument with the same Specified Date; and(b) Where You are in the Margin FX Contracts or CFDs as either the Long Party or
the Short Party;
We will with effect immediately after Close of Business on each Business Day replacesuch Margin FX Contracts or CFDs with a single aggregated Margin FX Contract or CFD
equivalent to the total of the Contract Quantities of each Margin FX Contract or CFD.
The date on which such replacement Margin FX Contract or CFD will expire
automatically under clause 10.3 will be the latest of the Expiry Date of each of theoriginal Margin FX Contracts or CFDs.
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11 CLOSE OF BUSINESS ACCOUNTING
11.1 WHEN WE ACCOUNT
Commencing at Close of Business on the date of the transaction and at Close of
Business on each subsequent Business day during the term of the Margin FX Contracts
or CFDs (including the Closing Date), We will account under this clause 11.

11.2 CONTRACT VALUE
We will calculate the Contract Value which will equal: Contract Price x Contract Quality.

11.3 CONTRACT PRICE AT CLOSE
The Contract Price of:(a) Cash CFDs will be calculated in accordance with PDS.
(b) Bullion CFDs will be calculated in accordance with PDS.
(c) Commodity CFDs will be calculated in accordance with PDS.
(d) Crypto CFDs will be calculated in accordance with PDS.
(e) Margin FX Contracts will be calculated in accordance with PDS.

11.4 VALUATION(a) If on the date of the transaction:i.
The current Contract Value exceeds the Opening Value, the Short Party
will pay to the Long Party such excess;ii.
The Opening Value exceeds the current Contract Value, the Long Party
will pay to the Short Party such excess.
(b) If, on any Business Day during the term of the Margin FX Contract or CFD(including the Closing Date):i.
The Contract Value exceeds the Contract Value on the preceding
Business Day, the Short party will pay the Long Party such excess;ii.
The Closing Value on the preceding Business Day, exceeds thecurrent Contract Value, the Long Party will pay to the Short Partysuch excess.

11.5 DAILY SWAPS OF MARGIN FX CONTRACTS AND CFDs (OTHER THAN EXCEPTEDCONTRACTS
When You hold a Position or Positions overnight in a Margin FX Contract or CFD (otherthan an Excepted Contract) they will be rolled to the next Business Day which will
result in You paying a Swap Charge or receiving a Swap Benefit. The amount isdetermined by Us and depends on factors including Our Swap Rate, being the rates atwhich You receive or pay interest on Positions that remain open overnight.
This is a varying rate dependent upon the applicable rate in the interbank markets forthe currencies or Bullion, with the duration of Our discretion. No Swap Charge is paidor Swap Benefit is Spread that is applied at Our discretion.
The operation of this clause 11.5 is subject to clauses 11.7, 11.8, 11.9 and 11.10.

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11.6 ENTITLEMENT(a) If You are long on a Margin FX Contract, You may either receive a Swap Benefit
or pay a Swap Charge, depending on the currency You are long, subject toclause11.7.
(b) If You are Short on a Margin FX Contract, You may either pay a Swap Charge or
receive a Swap Benefit, depending on the currency You are short on, subject toclause 11.9.

11.7 LONG MARGIN FX CONTRACTS
If You are long on a Margin FX Contract where the bought currency interest rates arehigher than the sold currency interest rates, You will receive interest at the Swap
Rate if You hold the Position overnight and do not close it before the settlement
time. This is because You are holding the higher yielding currency.
On the other hand, if You are long on a Margin FX Contract where the bought
currency interest rates are lower than the sold currency interest rates then You will
pay interest at the Swap Rate if You hold the Position overnight and do not close it
before the settlement time. This is because You are holding the lower yielding
currency.

11.8 LONG BULLION CFDS
If You have a long US dollar/short Bullion Position and interest rates in the USA are
higher than the Bullion Swap Rate You will receive a Swap Benefit at the Bullion
Swap Rate if You hold the Position overnight and do not close it before settlement
time. This is because You are holding the lower yielding asset.

11.9 SHORT MARGIN FX CONTRACTS
If You are short on a Margin FX Contract where the sold currency interest rates arehigher than the bought currency interest rates You will pay interest at the Swap Rate
if You hold the Position overnight and do not close it before the settlement time.
This is because You are holding the lower yielding currency. On the other hand, if
You are short on a Margin FX Contract where the sold currency interest rates arelower than the bought currency interest rates then You will receive interest at the
Swap Rate if You hold the Position overnight and do not close it before thesettlement time. This is because You are holding the higher yielding currency.

11.10 SHORT BULLION CFDS
If You have a short US dollar/long Bullion Position and interest rates in the USA are
higher than the Bullion Swap Rate You will pay a Swap Charge at the relevant Swap
Rate if You hold the Position overnight and do not close it before settlement time.
This is because You are holding the higher yielding asset.

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11.11 REVALUATION OF POSITIONS AFFECTED BY LIMITED HOURS TRADING
You acknowledge and agree that the application of Limited Hours Trading under thisAgreement has the result that open Positions will be marked after close of trading on
the primary exchange and Your Margin Requirement will vary accordingly.

11.12 WHEN WE MAKE ACCOUNTING PAYMENTS
Any payments due under this clause 11 will, subject to clause 16 (Set-off) of thisAgreement, be made by Us adjusting the Account with effect immediately after
Close of Business on the relevant Business Day.

12 STOP LOSS ORDERS AND LIMIT ORDERS
12.1 AVAILABILITY OF ORDERS
Stop Loss Orders and Limit Order are only available on selected instruments. We may
refuse to accept any Stop Loss Orders or Limit Orders on any trade. Such orders as We
do accept may be placed or (save in the case of a Stop Loss Order which We impose(see clause 12.4) cancelled at any time during the trading hours of the exchange on
which the Underlying Instrument is traded.

12.2 MARGIN REQUIREMENTS TO FILL ORDERS
An order which involves an instruction to Us to open a trade above a certain price will
not ordinarily be filled unless at the time when the price reaches the relevant limitYour Account contains sufficient trading resources to cover the initial Margin for the
trade which is to be opened.
We may, however, at Our discretion proceed to fill such an order notwithstanding thatYour account has insufficient trading resources to cover the initial Margin for the
trade which is to be opened. In such circumstances We reserve the right at any timeafter the opening of the trade to require You to deposit cash in the amount of therequired initial Margin for that trade. Any such further cash deposits will be payable as
Margin in accordance with the provisions of clause 8 (Margin). A failure to makepayment in the time and manner required will be an Event of Default. We reserve theright to refuse to open a trade in accordance with a Limit Order if:(a) There has been an Event of Default; and(b) In any other circumstances where We would be entitled to close the trade if it
had already been opened.

12.3 LIABILITY OF LOSSES ARISING FROM ORDERS
You will remain liable for any losses in Your Account which may be realised as theresult of the filling of an order, regardless of the trading resources available on Youraccount at the time the order was filled.

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12.4 OUR RIGHT TO IMPOSE A STOP LOSS ORDER
We may impose a Stop Loss order on any of Your open trades where We believe
such action is necessary or desirable to limit the losses on any of Your Positions
including, without limitation, where:(a) We have any reason to think that You will not pay Us any money that is or may
become due to Us;(b) You make any statement to Us which We have reason to believe is or may not
be true;(c) You fail to do anything that You have undertaken to Us that You will do;

12.5 INFORMING YOU OF ORDERS WE IMPOSE
We will as soon as is reasonably practicable after imposing a Stop Loss Order attempt to
inform You of it by telephoning You on the number or numbers that You leave with Us
and:(a) Informing You personally of the Stop Loss order, or if this is not possible, by;(b) Leaving You a message if, and only if, there is an automated message-taking
facility or person who offers to take such a message for You. If a message is left,
it will be deemed to have reached You whether or not it in fact has done so. We
will also send written notification to You by post and/or email at the addresses
You have provided to Us. We are under no obligation to take any other steps toinform You of the stop loss order and a failure for any reason to inform You of
the imposition of a Stop Loss order will not affect the validity and enforceabilityof that Stop Loss Order.

13 ACKNOWLEDGEMENTS
13.1 YOU ACKNOWLEDGE AND AGREE THAT:(a)
Independence: We operate independently of any Introducing Broker who is
not an authorised representative or related body corporate of Ours or any otherthird-party vendors that You may interact with in relation to a Position under thisAgreement. You understand that any agreement between Us and an Introducing
Broker does not establish a joint venture or partnership and any such Introducing
Broker is not an agent or employee of Ours. You also acknowledge that We may nowarranty as to an Introducing Broker’s or a third party’s regulatory status,
compliance with the Applicable Laws or the quality of service they provide to You in
relation to the Products entered into under this Agreement.
(b)
Spread: We may remunerate an Introducing Broker by introducing You to Us
and such remuneration may be on a per-trade basis or other basis. Such
remuneration to the Introducing Broker may require You to make an additional
payment above and beyond the ordinary spread generally provided by Us. This
payment could take the form of wider spreads, commissions, fees or other charges.
We will provide You with information as to the precise nature of such remuneration
upon request; andAxis Inc. Client Agreement
Date: Aug 2023

(c)Acting as principal: in Our dealings with You, We will act as a principal
counterparty to all of Your Positions. Unless We agree otherwise in writing, You will
also deal with Us as principal, and not as an agent or representative of anotherperson.

14 REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS
14.1 YOUR WARRANTIESYou represent, warrant and undertake to Us, at the time of entering into thisAgreement and each time You provide instructions through the Trading Platform or to
Us directly that You:(a)
Existence: (if not an individual) are duly established and validly existing under
the laws of the place of establishment;(b)Power: have the legal capacity and, if not an individual, have the full
corporate power and authority to enter into, and perform and complete theobligations under this Agreement and the transactions contemplated by it; and(c)Authorisations: where applicable, have obtained all necessary consents andhave the authority to enter into this Agreement and the transactions contemplated
by it;(d)Binding: this Agreement constitutes valid, legal and binding obligations of theparty, enforceable against You accordance with its terms;(e)Compliance with laws: You are complying with all laws which You aresubject;(f)
No litigation: no litigation, arbitration, mediation, conciliation oradministrative proceedings are taking place, pending, or to Your knowledge after
due enquiry, threatened which, if adversely decided, could have a material adverse
effect on You;(g)
Solvency: You are able to pay Your debts as and when they fall due and are
not otherwise insolvent or presumed to be insolvent under any law;(h)Accuracy of information: at all times the information provided by You to Us
in connection with this Agreement, whether in the Application Form or otherwise,
will be complete, true, accurate and not misleading (including by omission);(i)Disclosure of relevant information: You have disclosed to Us all informationthat We require to assess the risks We assume by entering into this Agreement withYou;(j)
No contravention: neither Your execution of this Agreement not Your
carrying out of the transactions under this Agreement contemplates, does or will:i.
Contravene any law which You or any of Your property is subject or any orderof any Government Agency that is binding on You or any of Your property;ii.

Contravene any Authorisation;

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iii.

Contravene any agreement binding on You or any of Your property; oriv.

Contravene Your constitution or the powers or duties of Your directors;(k)
Payment: You will pay any amount due and payable by You under thisAgreement when it is due;(l)

AML/CTF Legislation:
You acknowledge that by entering into this Agreement, We may require
further information from You from time to time to comply with Our obligations
under the Anti-Money Laundering and Terrorism Financing laws andregulations (AML/CTF Laws). By entering into this Agreement, opening an
Account and transacting with Us, You undertake to promptly provide Us withall additional information and assistance that We may reasonably require tocomply with the AML/CTF Laws.
You also warrant that:i.

You are not aware and have no reason to suspect that:a. The monies used to fund Your transactions have been or will bederived from or related to any money laundering, terrorism
financing or other illegal activities whether prohibited under
Applicable Laws, international law or convention or byagreement; orb. The proceeds of Your investment will be used to finance any
illegal activities; andc. Neither You nor Your directors (if applicable) are politically
exposed persons or organisations (as defined in the AML/CTF
Laws)

14.2 TRUSTEE OF A TRUST
Where You are the trustee of a trust, settlement or fund (the Trust), You further
represent, warrant and undertake to Us at the time of entering into this Agreement
and each time You provide instructions to Us:(a)Status of the Trust: The Trust is validly constituted and has not terminated,
nor has the date or any event occurred for the vesting of the assets of the Trust. You
will notify Us immediately in writing if the Trust is determined or ceases to exist;(b)
Status as trustee: You are the sole trustee or trustees of the Trust and You
have been validly appointed. You have not given any notice of resignation and noaction has been taken to remove You or to appoint an additional trustee of theTrust. You will notify Us immediately in writing if You cease for any reason to be thetrustee of the Trust;(c)
Trust power: You have power under the instrument that constitutes theTrust (Trust Deed) to:

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i.
Own the Trust assets and carry on the business of the Trust as it is now being
conducted; andii.
Enter into this Agreement and to perform Your obligations under thisAgreement. You will ensure that Your powers under the Trust Deed are not revokedor modified;(d)Trust authority: all action has been taken that is necessary or desirable under
the Trust Deed or at law to:

(e)

i.

Authorise Your entry into the Agreement and to perform Yourobligations under this Agreement;ii.

Ensure that this Agreement is binding on You as trustee of the Trust;
and

iii.

Enable You to properly carry on the business of the Trust;

No amendment: the Trust Deed has not been amended;(f)
Benefit of beneficiaries: You are entering into this Agreement as part of theproper administration of the Trust for the commercial benefit of the Trust and forthe benefit of the beneficiaries of the Trust;(g)Right of indemnity:i.

You have the right to be indemnified out of the Trust assets inrelation to any liability arising under or in connection with theproper performance of Your rights and obligations under thisAgreement; andii.

The Trust assets are sufficient to satisfy that right in full;iii.

You have not released or disposed of Your equitable lien over the
Trust assets;(h)Right of beneficiaries: the rights of the beneficiaries to and their interest in
the Trust assets are subject to:i.

Our rights and interests in the Trust assets under this Agreement;
and

ii.

Any rights and interests that You hold in the Trust assets to which
Our rights may be subrogated;(i)Priority against beneficiaries: this Agreement has priority over the interestsof the beneficiaries of the Trust;(j)Terms of Trust: You have disclosed to Us the full particulars of the Trust andany other trust or fiduciary relationship affecting the Trust assets and have given Us
a complete and up-to date copy of the Trust Deed;(k)Compliance: You will company with all Your obligations as trustee of theTrust, whether under the terms of the Trust Deed or otherwise;

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(l)No breach: You are not in breach of any of Your obligations as trustee of theTrust, whether under the terms of the Trust Deed or otherwise;(m)
No termination: no action has been taken nor is there any proposal or
requirement to wind up, terminate, reconstitute or resettle the Trust, and that nodate or event for the vesting of the Trust is contemplated to occur before the final
vesting date for distribution specified in the Trust Deed;(n)
No other business: You will not act as trustee of any other trust or fund, or
carry on any business except as trustee of the Trust, without Our consent;(o)
No distribution of capital or income: You will not make any distribution of
any income or capital or assets of the Trust that results in there being insufficient
assets of the Trust to meet any of Your liabilities under this Agreement;(p)
Right of indemnity: You will not release, dispose of or otherwise prejudice
Your:
i.

Rights of indemnity against the Trust assets; orii.

Equitable lien over the Trust assets,

And at Our request, must exercise those rights that lien and facilitate thesubrogation of Our rights to them;(q)
Other information: You will promptly and within five (5) Business Days
provide any information relating to the financial condition, business, assets andaffairs of the Trust that We reasonably request. As at the date of this Agreement, or,if given later, when given, You represent and warrant that:i.

The other information and reports (if any) relating to the Trust that
You have given to Us in connection with this Agreement are true
and accurate in all material respects and not misleading in any
material respect (including by omission); andii.

Any forecasts, projections and opinions in that other information
and reports are fair and reasonable (and were made or formed on
the basis of recent historical information and reasonableassumptions after inquiry and consideration).

14.3 NOTIFICATION OF CHANGESYou undertake that through the term of this Agreement You will promptly notify Usof:(a)

Any changes to the details supplied by You in Your Application Form; and(b)
Any change to Your officeholders, share structure or control and any material
or anticipated change in Your financial circumstances.

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Date: Aug 2023

15 DEFAULT
15.1 EVENTS OF DEFAULT
The following constitute Events of Default, which upon their occurrence give Us theright to take action in accordance with clause 15.2:(a)

An Insolvency Event occurs in relation to You;(b)

You are an individual and You die or become of unsound mind;(c)
You fail to provide any Margin or other sum due under this Agreement inrespect of any Position, or the Margin held by Us in respect of Your Positions falls
below Our Margin Requirements;(d)
You are in breach of any representation, warranty, undertaking or material
term of this Agreement and/or any information provided to Us in connection withthis Agreement is or has become untrue or misleading;(e)
You knowingly take advantage of an incorrect price when dealing with Us anda reasonable person in Your position would have known the price offered wasincorrect or We consider that You have, or have attempted to, manipulate theTrading Platform or any other system of ours in any way;(f)
You have not paid any fees, charges or any other payments due to Us under
this Agreement;(g)
We reasonably believe it is prudent for Us to take any or all of the actions
described in clause 15.2 below, in light of any relevant legal or regulatory
requirement applicable either to You or Us;(h)
We reasonably consider it necessary for the protection of Our rights under
this Agreement;(i)
We reasonably consider that You may be in breach of have failed to comply
with any Applicable Law;(j)
We are so requested by any relevant government body, regulatory body orother authority;(k)
Any Dispute occurs, or litigation is commenced and, in view of the subject
matter of or any issues in dispute in relation to that litigation, We reasonably decidethat We cannot continue to deal with You while the litigation is pending;(l)Where We have not received, within ten (10) days of a written request, allinformation which We have requested in connection with this Agreement;(m)
Where We believe on reasonable grounds that You are unable to manage therisks that arise from Your Positions;(n)

Any restrictions on Your Position size is, or is likely to be, exceeded;(o)Where You are a trustee of a Trust, and without Our consent, You cease to besole trustee of the Trust or any step is taken to:
Axis Inc. Client Agreement
Date: Aug 2023

a. Remove You as a trustee or to appoint a substitute or additional
trustee; orb. Bring any part of the Trust assets under the control of any court; orc. Any of the following were to occur where You are trustee of a trust:i. Any application or court order is made in any court for:1. Accounts to be taken in respect of the Trust; or
2. Any property of the Trust is to be brought into court oradministered by the court under its control;
ii. The beneficiaries of the Trust resolve to wind up the Trust;iii. You are required to wind up the Trust under the Trust Deed orapplicable law; oriv. The winding up of the Trust commences for any other reason;(p)
Where You are trustee of a Trust, the Trust is held or conceded by You not tohave been properly constituted;(q)
Where You are trustee of a Trust, You cease to be authorised under the Trust
Deed or at law to own the Trust assets in Your name or to perform Your obligations
under this Agreement; or(r)
Where You are trustee of a Trust, You breach any of Your obligations astrustee of the Trust.

15.2 CONSEQUENCES OF DEFAULT
If an event of Default occurs, We may take any or all of the following actions:(a)Immediately require payment of any amount You owe to Us, including
Margin;(b)

Terminate this Agreement;(c)
Close or limit the size of all or any of Your open Positions or the number of
Positions You have with Us;(d)Refuse orders to establish new Positions;(e)Cancel existing Positions;(f)Convert any ledger balances to the Base Currency of Your Account;(g)

Exercise Our rights under this clause 15 and clause 16 (Set-off) below;(h)Change the Margin level at which We may close Your Account;(i)

Impose new Margin requirements on Your Account;(j)

Limit or withdraw the credit on Your Account;(k)Call on any guarantee in respect to Your obligations;

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Date: Aug 2023

(l)Suspend Your Account and refuse to exercise any trades;(m)Require you to immediately close out and settle the Margin FX Contract or
CFD in such a manner as we request;(n)Combine, close or consolidate any of the Accounts and offset any amounts
owed to, or by Us, in such manner as We may in Our absolute discretion determine;(o)Enter into any transaction at such rates and times as We may determine inorder to meet or hedge any obligation You may have incurred under a new Position;or(p)Retain any amount owed to Us by You against any contingent liability ofYours to Us, so long as the contingency exists.

15.3 ADDITIONAL SUSPENSION AND CLOSING RIGHTS
We may also close your Account on fourteen (14) days’ notice in the circumstances
set out below. If we rely on our rights under this clause, Your Account will besuspended during the fourteen (14) day notice period and you will not be able toplace trades other than those to close existing open Positions. If you have not closed
all the open Positions within the fourteen (14) days’ notice period, we may take any
action referred to in clause 15.2.
The relevant circumstances are:(a) Any litigation is commenced involving both of Us in an adversarial position toeach other and, in view of the subject matter or any issues in dispute inrelation to that litigation, We reasonably decide that We cannot continue toprovide Our Services to You while the litigation is pending;(b) Where you have persistently acted in an abusive manner toward our staff(for example by displaying what we consider to be serious discourtesy or theuse of offensive or insulting language); or(c) Where We believe on reasonable grounds that You are unable to manage therisks that arise from Your trades.

15.4 OUR RIGHTS TO CLOSE OR VOID
Without limiting our right to take action under clause 15.2 and 15.3, We may also
close or void individual open Positions and/or cancel any order where:(a) We are in a dispute with You in respect of an open Position. In this case, We
can close all or part of the open Position in order to minimise the amount in
the dispute; and/or(b) There is as material breach of this Agreement in relation to the open Position.

15.5 OUR RIGHT TO SUSPEND ACCOUNT
Without limiting Our right to take action under clauses 15.2, 15.3 and 15.4, We may,in Our discretion, suspend Your Account pending investigation for any reason. WhilstYour Account is suspended, You will be able to close Your open Positions, but you will
Axis Inc. Client Agreement
Date: Aug 2023

not be able to place new trades. Circumstances in which we may choose to exercise
this right include, but are not limited to the following:(a) When we have reasonable grounds for believing that an Event of Default has
occurred or may occur but believe it is reasonably necessary to investigate
circumstances with a view to confirming this;(b) When We have reasonable grounds for believe that You do not have asufficient understanding of the trade which You are placing or the risks
involved;(c) When We have not received within ten (10) days of a written request, allinformation which We believe that We require in connection with thisAgreement; or(d) We have reason to believe that there has been a breach in Your Account shareor that that there has been a threat to Your Account share.

15.6 CONCLUDE INVESTIGATIONS
If we have suspended your Account pending investigation, we will use reasonableendeavours to conclude our investigation within five (5) Business Days. When we
conclude our investigation we will inform you whether trading on your Account may
resume or whether we will seek to take further action pursuant to this Agreement.

15.7 EXERCISE OF RIGHTS
We may exercise our rights to close open Positions under this clause 15 at any timeafter the relevant event has occurred and will do so on the basis of the next available
price for the affected open Position, as determined under clause 10.

16 SET OFF(a)
This Agreement and all Positions under it form part of a singular agreement
between Us and You.
(b)

In the circumstances an Event of Default occurs, We shall:i.

Calculate a final Contract Value in respect of all Positions;ii.

Calculate all amounts owing to Us by You under this Agreement or otherwise(including any costs arising from the Event of Default) to form a singular net
sum;

iii.

If a relevant amount in clause 16(b)i or 16(b)ii above are denominated in acurrency other than the Account Currency, then We shall determine theamount in US Dollars that would be required to purchase the equivalentamount of the other currency on the date of the calculation at a rate We
determine, at Our absolute discretion;iv.

As soon as reasonably practicable, following Our determination of the above
amounts, We shall aggregate all such amounts and set-off the total of allamounts due from Us to You against the total of all amounts (the Net
Termination Amount) is payable by the relevant party having a net payment
obligation; andAxis Inc. Client Agreement
Date: Aug 2023

v.

We will notify You in writing of Our Calculation of the Net Termination
Amount promptly following Our determination, pursuant to clause 27(Notices) of this Agreement. The Net Termination Amount shall be payable
on the date on which such notice is effective.

(c)
The Net Termination Amount shall accrue interest at the rate reasonably
determined by Us from (and including) the date of the close out (but excluding) thedate on which such notice is effective.
(d)
For the avoidance of doubt, We have a right of set-off across all Accounts andsub-accounts You hold with Us.

17 PAYMENTS
17.1 YOUR PAYMENTS MUST BE THE FULL AMOUNT
When You make any payment which is subject to any withholding or deduction
under this Agreement, You must pay to us an amount that ensures that the amountactually received by Us is equal to the full amount we would have received had nowithholding or deduction been made.

17.2 PAYMENTS WE OWE TO YOU AND YOU OWE TO US ARE OFFSET(a) If on any day, the same amounts are payable under this Agreement in respect of
the same Account by You and Us to the other in the same currency, then, onsuch date, each of our obligations to make payment to such amount will be
automatically satisfied and discharged.
(b) On the other hand, if the aggregate amount that is payable by You or Us
exceeds the aggregate amount that is payable by the other in the same
currency, then the one who has to pay the larger amount must pay the excess tothe other, and the obligations to make payment of each party will be satisfied
and discharged.

17.3 PAYMENT OF AMOUNTS DUE TO US
Unless otherwise provided in this Agreement, all amounts due to Us will, at Ourdecision:(a) Be deducted from any funds held by Us for You; or(b) Be paid by You in accordance with this Agreement.
If You fail to make any payment required under this Agreement when it falls due,interest will be charged (and You will pay interest) on the outstanding sum at a rateof 5% per annum over the cash rate determined for interbank loans. Interest accrues
and is calculated daily from the date payment was due until the date You pay in ful
land is compounded monthly.

17.4 WITHDRAWING CREDIT FROM YOUR ACCOUNT
When Your Account is in credit, You may request Us to send You an cheque or effectpayment by alternative means of the amount in credit of such amount as you may
specify. But, we may at Our discretion withhold from the amount of the credit balance
if:
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(a) Any overnight Position on Your account shows a notional loss;(b) We reasonably consider that further amounts may be required to meet any
current or future margin requirement or open Positions, or Your obligations(whether actual or contingent) under this Agreement including due to theUnderlying Market conditions;(c) If you have any contingent liability to us (or to any of our Associates), in
respect of any other Account;(d) We reasonably determine that there is an unresolved dispute between You
and Us in connection with this Agreement or any Margin FX Contract or CFD;or(e) We consider it necessary and desirable to withhold such amount to comply
with our regulatory or legal obligations,
And we will, except where paragraph 17.4(e) applies, notify You as soon as reasonably
practicable if we decide to take such action.

17.5 NO SECURITY INTERESTS CREATED
Nothing in this Agreement is intended to create or does not create in favour of Us or
You any mortgage, charge, lien, pledge or other security interest in any cash or otherproperty transferred by one to the other under any Margin FX Contract or CFD.

17.6 PAYMENT TRANSFERRED MUST HAVE FREE TITLE
We and You agree that all rights, title and interest to and in any payment which one
party transfers to the other in respect of a Margin FX Contract or CFD under thisAgreement vests in the recipient clear of any liens, charges, encumbrances or otherinterest of the transferor or any third party.

18 DISPUTE RESOLUTION
18.1 PROCEDURE
Axis Inc. has an internal dispute relation process in place to resolve any complaints orconcerns You may have, quickly and fairly. Any complaints or concerns should bedirected to Our client services team by telephone or email.
We will do our best to resolve the issue at the first point of contact, however where
we are unable to do so at Your satisfaction, You may refer the complaint to Our
Complaints Officer. We will investigate Your complaint and provide us with Ourdecision and the reasoning behind it in writing. We will seek to resolve Your complaint
within twenty-one (21) calendar days.
In the circumstances we are unable to resolve Your complaint within forty-five (45)calendar days, we will: (a) inform You of the reasons for the delay; (b) provide You
with updates on the process of the complaint; and (c) specify a date when a decision
can reasonably be expected. We would expect that in most cases the above process
would deal with the matter fully and to Your satisfaction.

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Date: Aug 2023

If You are dissatisfied with the outcome, You may lodge a complaint with the Financial
Commission, an external dispute resolution form external to us using the contact
details available on Our Website.

18.2 CONTINUANCE OF PERFORMANCE
Despite the existence of a Dispute, the Parties must continue to perform theirrespective obligations under this Agreement unless the Parties have agreed otherwise
in writing. If You have submitted Your complaint to Us (or an alternative external
dispute resolution service), You are still required to do what You can to mitigate Your
losses.

18.3 WHERE WE MAY COMMENCE LEGAL PROCEEDINGS
Clause 18.1 of this Agreement does not prevent us from commencing legal
proceedings against You in any relevant jurisdiction in addition to submitting any
dispute or difference whatsoever in connection with this Agreement to the Financial
Services Commission.

19 LIABILITY AND INDEMNITY
19.1 EXCLUSION OF LIABILITY
To the maximum extent permitted by law, We are not liable for:(a)
Any Loss or Claim in respect of an alleged loss of profits, loss of revenue orloss of opportunity;(b)

Any Loss that is not reasonably foreseeable;(c)
Any action We may take under this Agreement so long as We act within theterms of its provisions;(d)Any action taken by or on the instructions of a market, clearing house or
regulatory body;(e)
Any breach of this Agreement, except in the case of Our fraud, negligence orwillful default;(f)

Any Error that may occur;(g)

Any Claim in respect of general financial advice provided by Us;(h)Any error or inaccuracy in, or unsuitability of, or omission from theAgreement or any other information provided by Us, whether negligent orotherwise;(i)
Any Loss or Claim suffered or incurred by You in respect of Our Trading
Platform including due to the unavailability of the Trading Platform, system and data
errors, delays, inaccuracies, errors or omissions in data provided to You, software orcomputer viruses or the unauthorized use of the Trading Platform at any time; and(j)
Any errors, actions or inactions of any Introducing Broker, Associate or any
other third-party.
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Date: Aug 2023

19.2 TRADING PLATFORM
We do not provide any warranty as to the availability, accessibility, description,
quality, performance or fitness for purpose for You of the Trading Platform or any
component of the Trading Platform. We reserve the right to remove altogether or
reduce the Trading Platform service at any time for any purpose without incurring any
liability to You, however where possible will provide written notice of Our intention to
do so in accordance with clause 27 (Notices).

19.3 INDEMNITY
You agree to indemnify Us against, and You must pay Us on demand, all Losses andClaims (including without limitation loss of profit or business opportunity and loss ofor damage to reputation) which may be suffered or incurred or brought against Us inconnection or caused by:(a)
A breach by You of Your obligations under this Agreement, or where relevant,by any of Your officers, employees, agents or contractors;(b)
Any willful, unlawful or negligent act or omission by You, or where relevant,by any of Your officers, employees, agents or contractors;(c)
Any Loss suffered by Us as a result of any computer viruses, worms, software
bombs or similar items introduced by You into the system via the Trading Platform
or any software provided by Us to You in order to enable You to use the Trading
Platform;(d)

Us entering into any Position with You;(e)
Us taking any action under clause 15 (Default) or 16 (Set-off) of thisAgreement,
Unless such Loss or Claim is suffered or incurred as a result of Our fraud, negligenceor willful default.

20 AMENDMENT, ASSIGNMENT AND TERMINATION
20.1 AMENDING THE AGREEMENT
We may amend or replace this Agreement at any time by giving written notice to You
of the changes.

20.2 TERMINATION(a)
Notwithstanding any other termination rights We have under thisAgreement, We may immediately terminate this Agreement at any time by giving
You written notice in accordance with clause 27 (Notices) of this Agreement.
(b)
You may terminate this Agreement at any time by providing Us ten (10)Business Days’ prior written notice in accordance with clause 27 of this Agreement.

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(c)Your Account will be closed as soon as reasonably practicable after the expiryof the termination notice period, with all open Positions or orders cancelled and allYour obligations discharged.

20.3 RESERVATION OF RIGHTS
If You provide such notice under clause 0 above, We reserve the right to refuse or
allow You to enter into any further Positions or orders which may lead You to holding
further open Positions during the termination notice period.

20.4 ASSIGNMENT AND DELEGATION(a)
You may not assign or delegate any of Your rights and obligations under thisAgreement to any person without Our written prior consent.
(b)
You may not create any security interest over any of Your rights under thisAgreement, including any rights to deposit held by Us.
(c)
We may assign, novate or otherwise transfer Our rights or delegate any of
Our obligations under this Agreement to any person, in whole or in part, without
Your prior consent on giving not less than seven (7) Business Days’ notice inaccordance with clause 27 of this Agreement.
(d)
If You are in default of Your obligations under this Agreement, We will beentitled (without prejudice to any other rights We may have) to assign to any personwith immediate effect all or any of Our rights in respect of monies owing to Us under
this Agreement, as well as any security or other remedies available to Us in respectof such monies. You may be required to acknowledge in writing to Us that theassignee has assumed Our rights and obligations under this Agreement in relation to
the relevant monies owing by You.

21 FORCE MAJEURE
21.1 DEFINITION OF FORCE MAJEURE EVENTA Force Majeure Event refers to any occurrence as a direct or indirect result of whicha Party is prevented from or delayed in performing any of its obligations (other than apayment obligation) under this Agreement that is beyond the reasonable control of
the Party, including forces of nature, industrial action and action or inaction by agovernment agency.
A Force Majeure Event includes:(a)Us, in Our opinion, becoming unable to maintain an orderly market in respectof a Product for one or more of the Underlying Instruments as a result of theoccurrence of any act, omission or event (including a strike, riot, civil unrest or
failure of power supply, communications or other infrastructure);(b)
The suspension, closure, liquidation or abandonment of any relevant market
or Underlying Instruments; or(c)
The imposition of limits or special or unusual terms in the relevant markets orUnderlying Instruments; orAxis Inc. Client Agreement
Date: Aug 2023

(d)The excessive movement, volatility or loss of liquidity in the relevant markets
or Underlying Instruments; or(e)Where We reasonably anticipate that any of the circumstances listed in subsections (a) to (d) are about to occur.

21.2 NOTICE AND SUSPENSION OF OBLIGATIONS
If a Party to this Agreement is affected or likely to be affected by a Force Majeure
Event:(a)That Party must immediately give the other prompt notice of that factincluding:a. Full particulars of the Force Majeure Event;b. An estimate of its likely duration;c. The obligations affected by its and the extent of its effect on thoseobligations;d. The steps taken to rectify it; and(b)
The obligations under this Agreement of the Party giving the notice aresuspended to the extent to which they are affected by the relevant Force Majeure
Event as long as the Force Majeure Event continues.

21.3 REASONABLE ENDEAVOURSA party claiming a Force Majeure Event must use reasonable endeavours to remove,overcome or minimise the effects of that Force Majeure Event as quickly as possible.
This does not require a Party to settle any industrial dispute in any way it considers
inappropriate. If the Party comes to the view that the Force Majeure Event is not
amenable to such actions, it must notify the other party as soon as possible.

21.4 TERMINATION DUE TO FORCE MAJEURE EVENT(a)
In the circumstances a Force Majeure Event continues for more than five (5)Business Days, either Party may terminate this Agreement immediately by giving
written notice to the other party in accordance with clause 27 of this Agreement;
and(b)
In the event of termination under sub-clause (a), neither Party is liable to theother except to the extent of rights or obligations which accrued before termination.

21.5 ADDITIONAL ACTIONS
Notwithstanding clauses 21.2 and 21.3 above, if We reasonably determine that a Force
Majeure Event exists then We may (without prejudice to any other rights under thisAgreement and at Our sole discretion) take any one or more of the following actions:(a)Alter normal trading times;(b)

Alter the Margin Requirement;

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(c)Amend or vary this Agreement and any transaction contemplated by thisAgreement, including any Position, insofar as it is impractical or impossible for Us tocomply with Our obligations to You;(d)
Close any or all existing Positions, cancel instructions and orders as We deem
to be appropriate in the circumstances; or(e)Take or omit to take all such other actions as We deem to be necessarily
appropriate in the circumstances having regard to the Positions of Us, You and otherclients.
To the extent practicable, We will take reasonable steps to notify You, in accordancewith clause 27, of any action that We propose to take under this clause 21.5. If it is
not practicable to give You prior notice, We will notify You promptly after taking any
such action.

21.6 LIABILITY
If We reasonably determine in Our absolute discretion that a Force Majeure Eventexists, We will not be liable to You for any failure, hindrance or delay in performing
Our obligations under this Agreement or for taking or omitting to take any action inaccordance with clauses 21.2 and 21.3 of this Agreement.

22 TRADING PLATFORM
22.1 USE OF INFORMATION, DATA AND SOFTWARE(a)
If You receive any data, information or software via the Trading Platform
other than that which You are entitled to receive pursuant to this Agreement, You
will immediately notify Us and will not use, in any way whatsoever, such data,
information or software.
(b)
You will promptly take all reasonable steps to delete such data, information
or software from Your systems if We request You do so.

22.2 MAINTAINING STANDARDSWhen using the Trading Platform, You must:(a)Ensure that Your systems are maintained in good order and is suitable for use
with the Trading Platform;(b)

Carry out virus checks on a regular basis;(c)
Not at any time leave the terminal from which You have accessed the Trading
Platform or let anyone else use the terminal until You have logged off the Trading
Platform;(d)
Run such tests and provide such information to Us as We reasonably consider
necessary to establish that the system satisfies the requirements notified by Us to
You from time to time; andAxis Inc. Client Agreement
Date: Aug 2023

(e)Inform Us immediately of any system defect, or any unauthorized access to
the Trading Platform or any unauthorized transaction or instruction which You knowof or suspect and, if within Your control, cause such unauthorised use to cease andcease all use of such Trading Platform until You have received permission from Us toresume use.

22.3 SYSTEM DEFECTS
In the event You come become aware of a defect, malfunction or virus in Yoursystems or in the Trading Platform, You will immediately notify Us of such defect,
malfunction or virus and cease all use of such Trading Platform until You have received
permission from Us to resume use.

22.4 INTELLECTUAL PROPERTY
All rights in patents, copyrights, design rights, trademarks and any other intellectual
property rights (whether registered or unregistered) relating to the Trading Platformremain vested in Us or Our licensors. You will not copy, interfere with, tamper with,alter, amend, reverse compile, disassemble or modify the Trading Platform or any partor parts thereof unless expressly permitted by Us in writing or expressly permitted bylaw. Any copies of the Trading Platform made in accordance with law are subject tothe terms and conditions of this Agreement. You must ensure that all the licensor’s
trademarks and copyright and restricted rights notices are reproduced on thesecopies. You must maintain an up-to-date written record of the number of copies of
the Trading Platform made by You. If We so request, You must as soon as reasonably
practicable provide Us a statement of the number and whereabouts of copies of theTrading Platform.

22.5 IMMEDIATE SUSPENSION OR PERMANENT WITHDRAWAL
We have the right, unilaterally and with immediate effect, to suspend or withdraw
permanently Your ability to use the Trading Platform or any part thereof, without
notice, where We consider it necessary or advisable to do so. In addition, Your use of
the Trading Platform will be terminated automatically upon the termination (forwhatever reason) of (i) any licence granted to Us that relates to the Trading Platform;or (ii) this Agreement.

22.6 EFFECTS OF TERMINATION
If either Party terminates Your use of the Trading Platform for any reason, You must,upon Our request, return to Us or destroy all hardware, software and documentationthat We have provided to You in connection with the Trading Platform and any copies
thereof.

Axis Inc. Client Agreement
Date: Aug 2023

23 PROHIBITED TRADING TECHNIQUES
23.1 CIRCUMVENTION, REVERSE ENGINEERING OR USE OF ARTIFICIAL INTELLIGENCE
SOFTWARE(a) You shall not unlawfully access or attempt to access, reverse engineer or otherwise
circumvent any security measures We have applied to Our Online Trading Platform
and/or computer systems.
(b) It is absolutely prohibited to use any software which We determine at Our sole
discretion to have at its purpose to apply any kind of artificial intelligence analysis to
Our Online Trading Platform and/or computer system(s) relating to the use of Our
services.

23.2 UNLAWFUL TRADING TECHNIQUES(a) Internet connectivity delays and price feed errors sometimes create a situation
where the price(s) displayed on Our Online Trading Platform do(es) not accuratelyreflect the market rates. The concept of using trading strategies aimed at exploiting
errors in prices and/or concluding trades at off-market prices and/or by taking
advantage of internet delays (commonly known as “arbitrage”, “sniping” or“scalping” hereinafter collectively referred to as Arbitrage) cannot exist in an overthe-counter market where the Client is buying or selling directly from the principal.
Accordingly, We reserve the right at Our sole discretion NOT to permit the
exploitation of Arbitrage on Our Online Trading Platform and/or in connection with
Our services. Any Transactions or Contracts that rely on price latency Arbitrage
opportunities may be revoked at Our sole discretion and without prior notice being
required. Furthermore, in those instances, We reserve the right, at Our sole
discretion and without prior notice being required to:a. Make the necessary corrections or adjustments on the Account(s) involved(including and without limitation, adjusting the price spreads available to the
Client);b. Restrict the Account(s) involved’s access to streaming, instantly tradable
quotes (including and without limitation, providing manual quotations onlyand submitting any orders to Our prior approval);c. Retrieve from the Account(s) involved any historic trading profits that We candocument as having been gained through such abuse of liquidity at any time
during the client relationship;d. To terminate the client relationship and/or close all Accounts involved(including and without limitation, all other accounts held by the sameaccount holder with Us immediately by giving written notice).
(b) Any indication or suspicion in Our sole discretion of any form of Arbitrage (including
but not limited to risk-free profiting), abuse (including but not limited to the Client’s
trading activity patterns that indicate that the Client solely aims to benefit financiallywithout being genuinely interested in trading in the markets and/or taking market
risks), internal hedging in coordination with other parties, abuse of Our ‘no negativebalance’ policy, fraud, manipulation, cash-bank Arbitrage or any other forms ofdeceitful or fraudulent activity will constitute all Transactions carried and/or profits
or losses garnered as invalid. In these circumstances, We reserve the right toAxis Inc. Client Agreement
Date: Aug 2023

close/suspend (either temporarily or permanently) all of the Client’s trading
accounts and cancelling any transactions.

23.3 ACTION WE MAY TAKE AGAINST PROHIBITED TRADING TECHNIQUES(c) If, at Our sole discretion, We determine that You have breached this clause 23, We
reserve the right to take any action as We see fit, including and without limitation,completely blocking access to Our Online Trading Platform, blocking and/or revoking
Your access codes and/or terminating Your account. Under these circumstances, We
reserve the right to seize any profits and/or revenues generated directly or indirectly
by exercising such prohibited trading activities and We shall be entitled to inform
any interested third-parties of Your breach of this clause.
(d) We have and will continue to develop any tools necessary to identify fraudulent
and/or unlawful use of Our Online Trading Platform; any dispute arising from such
fraudulent and/or unlawful trading activities will be resolved by Us in Our sole andabsolute discretion in the manner We deem to be fairest for all parties concerned.
The decision made by Us shall be final and binding on all participants.

23.4 INDEMNIFICATION
Without prejudice to any other provisions of these Terms and Conditions, You agree
to indemnify Us and hold Us and any of Our Associates harmless from and against any
and all liabilities, losses, damages, costs and expenses, including and without
limitation, legal fees and expenses incurred in connection with and/or directly or
indirectly related with, any fraudulent and/or unlawful access and use by You of Our
Online Trading Platform and/or the prevention and/or remediation thereof, provided
that any such liabilities, losses, damages, costs and expenses would not have arisen,
but for Our gross negligence, fraud or willful default.

24 YOUR PRIVACY AND DISCLOSURE
We collect, maintain, use and disclose Personal Information in the manner described in
Our Privacy Policy. Our Privacy Policy is available on Our Website or by contacting Our
client services team.

25 CONFIDENTIALITY
Each Party agrees not to disclose information provided by any other Party that is not
publicly available (including the existence or contents of Agreements): except:(a)With the consent of the Party who provided the information (such consent is
not to be unreasonably withheld);(b)
If allowed, compelled or required by law, the Agreements, Our Privacy Policyor required by any market exchange;(c)

In connection with any legal proceedings related to the Agreements; orAxis Inc. Client Agreement
Date: Aug 2023

(d)To any person in connection with an exercise of rights or when dealing withrights or obligation under the Agreements (including in connection with preparatory
steps such as in relation to assignments).
This clause does not apply in relation to Personal Information (see Our Privacy
Policy).

26 SURVIVAL OF OBLIGATIONS
The following clauses survive the termination or expiry of this Agreement:
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)

1 Introduction;
14 Representations, warranties and undertakings;
16 Set Off;18 Dispute resolution,
19 Liability and indemnity;
20.3 Reservation of rights;
25 Confidentiality;
26 Survival of obligations;
27 Notices; and
28 Governing law and jurisdiction.

27 NOTICES
27.1 NOTICES MUST BE IN WRITING
Subject to clause 27.2 below, any notice or other communication (including any
Confirmations, Reports, statements or supplementary PDS) given or made under or inconnection with the matters contemplated by this Agreement will, except where oral
communication is expressly provided for, be in writing and will be sent to the address
below:(a)
Us: the “Contact Us” page of Our Website provides Our contact details forthe purposes of written notifications.
(b)
You: The address and electronic mail address provided by You in the
Application Form

27.2 PROVISION OF NOTICE
A notice in writing can be provided by letter, email or to the extent permitted by
Applicable Laws, the Website including the Trading Platform.

27.3 WHEN NOTICES ARE RECEIVED
Any such notice will be deemed to have been received:(a) If delivered by hand, at the time of delivery;(b) If delivered by post, then it would be delivered in the ordinary course of post
but in any event no later than seven (7) Business Days after posting;(c) If delivered by email, then notice will be taken as given:
Axis Inc. Client Agreement
Date: Aug 2023

a. If by 5:00pm on a Business Day (in the place of receipt), then at thetime the email is sent;
b. If after 5:00pm (in the place of receipt), then on the next Business Day,
provided the sender has not received a notification for any such reason thatthe email was not received by the recipient.

27.4 CHANGE OF NOTICE DETAILSYou may alter the address (including email address) which Confirmations, Reports,
notices and other communications are issued, by written notice to Us. Such change,
however, will not be actioned until approved by Us. You agree and acknowledge that
You are solely responsible for ensuring that We have Your current address, telephone
number, email address and other details.

28 GOVERNING LAW AND JURISDICTION
28.1 LAWThis Agreement and each Position between Us and You will be governed by andconstrued in accordance with the laws of Saint Vincent and the Grenadines.

28.2 JURISDICTION
Both Parties submit irrevocably, for Our benefit only, to the exclusive jurisdiction of
the laws of Saint Vincent and the Grenadines. Both parties waive any objection they
may have to proceedings being brought in such courts, waive any claim that suchproceedings have been brought in an inconvenient forum and further waive the rightto object, with respect to such proceedings, that such courts do not have any
jurisdiction over such party. For the avoidance of doubt, this clause 28.2 will notprevent Us from commencing proceedings in any other relevant jurisdiction.

29 MISCELLANEOUS
29.1 CONSENT TO RECORDING OF TELEPHONE CONVERSATIONS
You consent to the electronic recording of Your telephone discussions with Us, email
logs and chat records, and the use of recordings or transcripts from such recordings
for any purpose.

29.2 OUR ACTION TO COMPLY WITH THE LAW
Despite any other provision of this Agreement, in providing the Services in thisAgreement, We will be entitled to take any action as We consider necessary in Our
absolute discretion to ensure compliance with the Applicable Laws.

29.3 CLIENT MONEY(a) Details of how We handle Your Client Money can be found in section 6 of the PDS(Holding Your Money).
(b) Client Classification
Axis Inc. Client Agreement
Date: Aug 2023

In agreeing to these terms, You are providing written agreement to be classified as aretail or wholesale client in accordance with the client money procedures in section
6 of the PDS.
(c) Treatment of interest
Unless otherwise agreed in writing with You, We are solely entitled to any interest or
earnings derived from Your money;(d) You irrevocably and unconditionally authorise Us to:i.
Withdraw, deduct or apply any amounts payable by You to Us under thisAgreement from Your account, including, without limitation, making a payment for,or in connection with, the margining, adjusting or settling of dealings in Positions
entered into by You or the payment of interest or fees or charges to Us, it being
acknowledged and agreed by You that such amounts belong to Us under thisAgreement and may be used by Us in Our business from time to time, including forthe payment of amounts to Our counterparties;ii.
Deal with any property other than money given to Us in accordance with theterms and conditions of this Agreement, including, without limitation:
1. Dealing with such property in connection with the margining,
adjusting or settling of dealings in Positions entered into by
You; or2. Selling or charging in any way, any or all of Your property
which may from time to time be in Our possession or control,or the possession or control of Our associates, following an
Event of Default.

29.4 DIRECT DEBIT AUTHORISATION
The following provisions apply if a direct debit arrangement (Direct Debit
Authorisation) s entered into between You and Us to debit an account owned by You
for moneys You owe to Us:(a) The Direct Debit Authorisation applies in respect of all monies due and payable to
Us under the Confirmation and this Agreement;(b) You:i.
Must ensure that sufficient funds are available in the nominated account tomeet all drawings on their due dates;ii.
Must advise us immediately if the account nominated is transferred orclosed;iii.
Must ensure a suitable alternate payment method is arranged with Us if You
have terminated this Direct Debit Authorisation; andiv.
Are liable for all fees incurred by Us in relation to failed drawings.
(c) We:i.
Where the due date falls on a non-business day, wil draw the amount on thenext Business Day thereafter; andAxis Inc. Client Agreement
Date: Aug 2023

ii.
Reserve the right to cancel the Direct Debit Authorisation if three or more
drawings are returned unpaid by your nominated financial institution and to arrange
with You arrange with You an alternate payment method.
(d) You:i.
May terminate or amend the Direct Debit Authorisation at any time by giving
us fourteen (14) days prior written notice to Us;
ii.
Stop payment of a drawing under the Direct Debit Authorisation by giving
three (3) days prior written notice to Us; andiii.
Where you consider a drawing has been debited incorrectly, You can disputethe drawing directly with Us or lodge a direct debit claim through your nominatedfinancial institution.

29.5 SEVERABILITY
Any provision of this Agreement which is unenforceable or partly unenforceable is,where possible, to be severed to the extent necessary to make this Agreement
enforceable, unless this would materially change the intended effect of thisAgreement.

29.6 INCONSISTENCIES WITH TRANSLATIONS
If there is any inconsistency between the English version of this Agreement and any
translation of this Agreement, the English version will prevail to the extent of any
inconsistency.

29.7 RIGHTS AND REMEDIESThe rights and remedies contained in this Agreement are cumulative and not exclusiveof any rights or remedies provided by law.

29.8 RIGHTS OF THIRD PARTIES
Nothing in this Agreement is intended to confer on any person other than Us or You
any right to enforce any term of this Agreement.

29.9 WAIVER AND VARIATION OF RIGHTS(a) No delay or omission on Our part in exercising any right, power or remedy under thisAgreement or by law, or partial or defective exercise thereof will:i.

Impair or prevent further or other exercise of such right, power or remedy; orii.

Operate as a waiver of such right, power or remedy.

(b) No waiver of any breach of any term of this Agreement will (unless expressly agreed
in writing by Us) be construed as a waiver of a future breach of the same term or as
authorizing a continuation of the particular breach.
(c) Our exercise of a right partially or on one occasion does not prevent any further
exercise of that right in accordance with the terms of this Agreement. Neither aforbearance to exercise a right nor a delay in the exercise of a right operates as anelection between rights or a variation of the terms of this Agreement.

Axis Inc. Client Agreement
Date: Aug 2023

29.10 OUR OFFICE AND TRADING HOURS
Trading hours for Margin FX Contracts and CFDs vary and will depend on the relevant
Underlying Instrument’s hours of operation. Our office hours and trading hours are
set on Our website.
We are under no obligation to quote prices or accept orders or instructions on
Contracts to which Limited Trading Hours apply.

29.11 MULTIPLE PARTIES
If a Party to this Agreement is made up of more than one person, or a term is used inthis Agreement to refer to more than one party, then unless otherwise specified inthis Agreement:(a) An obligation of those persons is joint and several;(b) A right of those persons is held by each of them severally; and(c) Any other reference to that Party or that term is a reference to each of those
persons separately, so that (for example):a. A representation, warranty or undertaking relates to each of themseparately; andb. A reference to that Party or term in clause 14 (Representations,warranties undertakings) is a reference to each of those persons
separately.

29.12 TIME IS OF THE ESSENCE
Time is of the essence for this Agreement.

29.13 LIABILITY FOR EXPENSES
Each Party must pay its own expenses incurred in executing this Agreement andnegotiating any additional terms and conditions as it relates to a Position.

29.14 GIVING EFFECT TO TRANSACTIONSEach Party must do anything (including execute any document) and must ensure thatits employees and Authorised Person does anything (including executing any
document), that any other party may reasonably require to give full effect to thisAgreement.

Axis Inc. Client Agreement
Date: Aug 2023