1. INVESTPRO LIMITED - a member of IPL GROUP. (“IPL”, “us”, “we”, “our”, “ours” or “ourselves” as appropriate) , was incorporated in the BVI and is fully licensed and regulated by the BVI Financial Service's Commission who are responsible for authorize and regulating all financial services companies. Therefore, all persons fully employed by IPL, are regulated and authorized by the British Virgin Islands Financial Services Commission as persons suitable to conduct financial services activities as displayed in the IPL financial services  
  2. These terms of business form the basis of the agreement between us and our client (“you”, “yours”, “yourselves” or “customer” as appropriate). Please read this document carefully. 
  3. These terms of business cover Forex and Contracts For Difference (CFD) .You are agreeing to be legally bound by those parts of these terms that are pertinent to your account(s) if you 
    • check the ‘I have read and understand your terms and conditions’ box on the website 
    • trade on your account.
  4. We trade contracts for differences (CFD) transactions in the over the counter market (OTC). OTC trading means that trading does not take place on a regulated exchange. As OTC is not an exchange traded market, prices at which AIPL deals at or quotes may or may not be similar to prices at which other OTC market makers deal at or quote. 
  5. IPL does not provide investment advice. The market recommendations, signals, information provided by and/or distributed by IPL are general in nature and based solely on the judgment of IPL’s personnel or from third party information providers. These market recommendations may or may not be consistent with the market position or intentions of IPL, its affiliates, and/or employees. The market recommendations and information provided by IPL are based upon information believed to be reliable, but IPL cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will eliminate the risk inherent in trading Forex and CFDs. Any market recommendations of, or information provided by, IPL does not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any OTC transaction. Customer understands and hereby agrees that Customer is capable of, and solely responsible for, assessing the merits and risks of any trade it may enter into with IPL.
  6. As part of IPL’s growth strategy we may at times offer new Products or Services to you and any such additional Products or Services will, in the absence of a separate agreement between you and us, be subject to these terms.
  7. These terms of business will be deemed to be the most recent and represent the entire agreement between you and us and supersede any previous terms of business that may exist. They come into effect when we open an account (or accounts) for you or when we notify you of these new terms of business taking effect from a previous version.
  8. It is your responsibility to make sure that you comply with any local laws that are applicable to you, both in terms of holding an account and applicable tax laws.
  9. We do not allow residents of the USA to hold an account with us, and you undertake not to access our website or any trading platform associated with us from the USA. or any other country where it may be against the law to do so.

Your Account

  1. We must accept you as a client before you can use our services; we may refuse your application for any reason and are under no obligation to provide any reason for doing so.
  2. We are obliged to assess appropriateness of our Products and Services in relation to you before we open an account for you. We are not obliged to determine whether Forex or CFD trading is appropriate for you.
  3. If we open an Account in the names of two or more people, each such person will be fully responsible for that Account (jointly and severally). So (for example) we would be entitled to require one of you to pay all losses and would not have to require any of the others to pay any losses. Also, we are entitled to accept instructions from any of the Account holders, without having to first tell the others
  4. We will let you know what your Account Number is and we will provide you with log-in details (username and password). As part of the Account activation process you will be required to create a password or one will be issued to you. 
  5. You must keep your password confidential. No one at IPL will ever ask you for your password and under no circumstances should you divulge it. 
  6. If you think your password has been compromised you must inform us immediately, we accept no liability for any unauthorised use of your account.
  7. Your Account Number and log-in details also form part of our identification process so should be kept secure.

Your Money

  1. All money credited to your account will be held in a segregated client money bank account at one or more approved financial institutions.
  2. We do not pay interest on any money held by us for you and you agree that you waive any entitlement to the same.

Demo Accounts

  1. You can apply for a demo or practice account, this will be active for 15 days, it is for practice and demonstration purposes only, any monies made or lost are purely fictitious.
  2. Trading performance on a demo account does not necessarily reflect performance achieved when trading on a live account.


  1. The words ‘trading’, ‘trade’, ‘trades’ are synonymous in these terms of business
  2. IPL will act as the principal counter party on all trades or orders executed using the services we offer, they are performed by us on an execution only basis.
  3. When you trade you do so on our price you will sell at our Bid and buy at our Ask, orders will be triggered at our Bid or Ask quotes.
  4. We are under no obligation to satisfy ourselves on the suitability of any trade or to suggest ways for you to reduce any risk exposure you may have.
  5. You make the following representations and warranties to us when you submit your Application Form, enter into the Terms and each time you place a trade or Order, or give any other instructions: 
    • ​that you have full capacity and authority to do so;
    • that you are acting in person or by someone duly authorized to act for you;
    • that all the information you have provided to us, both in your Application Form and otherwise, is true accurate and complete in all material respects;
    • that you agree to the Terms Of Business and that the Terms bind you.
    • You have sufficient knowledge and experience or have received sufficient professional advice in order for you to make your own decision as to the risks or rewards of the trade
    • that you act as principal
  6. We are under no obligation to accept any trade from you whether to open or close a position if we believe that doing so would be illegal.
  7. If you wish a third party to be able to trade on your account then you must request that an ‘authorized agent’ be added to your account via email. This will allow someone else to trade on your account without having the full ‘power of attorney’ powers of control.
    • This third party will not be able to make payments or withdrawals
    • You are still liable for any trade on your account.
  8.  Any trades on your account must be made by you and not by a third party, unless you have given specific authorization for someone else to trade on your account via a power of attorney or trading authorization or you have activated a Manage account program or Managed Fund accounts. If you have facilitated someone other than you trading on your account without prior written agreement with us then you are still liable for all trades carried out on this account. 
  9. We reserve the right to amend or delete trades that may have arisen from the price being wrong due to a latent price, ‘manifest error’ or ‘force majeure’ (please refer to sections 17 & 18)
  10. You may hold an opposing position with us so you may be long and short in the same product; you should take care when closing a position that you are closing your open position rather than opening a position the other way round.
  11. We are an internet based company offering you access to multiple trading platforms via the internet and as such, in spite of our numerous safeguards there is a possibility that a failure could occur that makes trading impractical. In such circumstances you accept all liability for any losses that may occur as a result of this, all markets will remain open until the underlying market closes but stops and limit orders may not execute. You may email the trading team to close any open positions. 

Manage Account Program (MAP) & Managed Fund (MF)
Manage Account Program (MAP)

  1. By opening a Manage Account Program (we refer to as MAP) you agree to employ the trading team facility and the account must remain open and active for a minimum period of 12 months.
  2. You may self-trade your MAP only during the times prescribed for you to do so. At any other times your MAP will be automatically traded by the trading team. Trading team is the current best performing trader(s) identified by the system whose trading strategies will be trade and executed into your trading account.
  3. Any open positions initiated by you into your MAP may or may not be liquidated by the trading team.
  4. The frequency of trade and the number of contract initiated per trade will be subject to the available fund in your MAP, however you may request through email to IPL for your MAP to be traded more/less aggressively or with a bigger/ smaller number of contracts.
  5. MAPs are subject to the same margin terms that exist for self-traded live accounts. 
  6. Profits withdrawal will be allowed once monthly whenever the funds are not committed for any immediate trading plan by your trading team(s).

Managed Fund (MF)

  1. It should be noted that all the accounts under the Managed Fund program work on trading strategies that are aimed at long-term capital appreciation, and should be judged on a performance basis of at least 36 months. You must recognise that the potential profitability of the Account depends upon long-term, uninterrupted investment of capital and that prematurely closing the Account or any reduction of equity by you could materially and adversely affect the potential profitability of the Account. That said, you may add to your Account at any time.  
    • ​​​​​​​Managed Fund account must remain open for a minimum term of 36 months.  
    • Managed Fund monthly trading profit return will be credited once a month on or before the 7th day of the month. 
    • Fund Managers monthly profit generating target will be between 5% to 10%, and the Client is charged on a monthly basis a 2% management fee of any profits made when there is a positive month 
    • Premature closing of the account will be subject to approval  and requires a minimum of 45 days written notice. A management fee of 55%  will be imposed on the total profits generated for prematurely terminated Managed Fund Account's.   
    • You may withdraw your monthly profit return by submitting a withdrawal request no later than the 7th day of the month. Monthly profits not withdrawn will be compounded as additional Managed Fund capital. 
    • You may self trade your Managed Fund account.  
    • Your Managed Fund account will also operate as a Trading Account, unless you request in writing to disable this service for your Managed Fund. 
    • A Managed Fund account which is actively self & trading team will have its monthly profit return calculated based on a pro-rata free margin rate.  
  2. ​​​​​​​​​​​​​​The Fund Manager is constantly searching for entry opportunities in the global markets, however, there is no rule that says they are always actively trading. Many trend followers and traders believe that it is necessary to trade the market continuously. IPL believes the exact opposite and IPL’s Fund Manager will only trade the markets when the Risk/Reward Ratio is in the customer’s  favor.    
  3. The Managed Fund  trading program utilizes both  computerized and systematic trading methodology based on technical analysis of market data as well as “mass psychology”. The resulting methodology attempts to capitalize on short-term price swings, market trends and trend exhaustion, (counter-trends),that occur in the most liquid global markets. Trades typically last between a few minutes and up to days, with winning trades structured to last longer and make more money per trade than losing trades.  
  4. Dynamic and self adjusting risk control and profit targets are automatically “micro managed” using dynamic self adjusting risk control measures that generate their unique initial protective stop, trailing stops and profit targets, which are known before entry, and are based on their individual market volatility and cycle characteristics. The average risk per trade/per market is typically between 0.5%  and up to 7% . 

 Closure Of Open Positions

  1. You can close a trade by entering an equal and opposite trade in the same product, you should take care that you are closing the position (liquidation) and not opening (new) an equal and opposite trade hedging (locking) your existing open trade.
  2. To close or hedge (lock) part of the position you should use a smaller trade size than the open amount of the trade.
  3. You can use stop or limit orders to close your trade when the market reaches a specific level, however these levels are not guaranteed.
  4. You can only close open positions during our trading hours for the relevant market.
  5. In the event of our relevant trading platform not being available you can close an open position via email to dealers desk.

Islamic Forex& CFD Trading Account - NO Interest, Swap & Roll-Over Charges

  1. IPL offers Shariah Compliance Forex & CFD accounts which are not entitled to, or charged with any form of interests, swaps, and roll-over charges. All these charges are waived (eliminated) in observance of the growing global demand for Islamic financial products.
  2. Commission charged per contract for FX and CFD is a fixed amount regardless of the value of the contract. These commission charges are as displayed in the Online Trading > Markets section of our website. 
  3. In the case of incorrect funding being applied we reserve the right to retrospectively correct any incorrect charges on your account by applying a credit or debit to your account. 
  4. We reserve the right to change the commission rates at any time and without prior notice.

Orders ( see also Appendix A – Order Types)

  1. We will accept instructions (Orders) to trade when the IPL Price reaches a certain level
  2. All Orders are by default Good Till Cancelled (GTC); they will remain working until you cancel them, they are executed or the market to which the order relates expires.
  3. You can amend you Order to be GTC; by entering a date and time for expiry when creating the Order.
  4. Once your level has been reached we will attempt to fill your Order within a reasonable time and at the next price available to you in the market.
  5. The price at which we execute an Order is not guaranteed, in the event of volatile markets there is a possibility that your order will be slipped to the next price level that is reasonably available in the market. (See Gapping Section 19)
  6. We accept stop loss, limit and stop orders.
    • ​​​​​​​​​​​​​​​​​​​​​​​Stop loss orders are attached to an open position and when executed will close or hedge the open position; it is possible that a stop loss order will be executed at a price worse than you entered.
    • Limit orders are orders to buy below or sell above the current market price; it is possible that a limit order will be executed at a price better than you entered.
    • Stop orders are orders that will buy above or sell below the current market price; it is possible for these orders to be filled at either a better or worse price than you entered.
  7.  We will always pass on positive slippage irrespective of the market you are trading.
  8. We reserve the right not to execute an order if there are insufficient funds in your account to cover the required margin.
  9. We do not accept any liability for any losses incurred by us executing any order on your account regardless of your ability to cover margin.


  1. Terms:
    • Necessary Margin (NM) : When you open any trade a Necessary Margin must be paid , this is the minimum deposit that we require for you to open a trade. 
    • Maintenance Margin (MM) : Additional margin required if the Ratio on your account is 70% or less.
    • Equity : Closing Balance + Unrealised Profit/Loss
    • Ratio : A percentage calculated as (Equity / NM) X 100
    • Usable : Trading fund available and calculated as (Equity – NM)
  2. The NM needs to be maintained whilst the position remains open and you may be required to add funds to your account to maintain the minimum NM. Information on the NM for each type of products we offer can be found in the Online Trading>Markets section of our website. 
  3. The NM for a fully hedged (locked) pair of position will be calculated as NM of one side of the contract only.
  4. Please note that IPL can vary the Necessary Margin at any time and the new NM applies to all open positions and therefore an additional Maintenance Margin payment might become due to maintain your open positions. If this occurs we will make every endeavour to contact you and help resolve the situation.
  5. You may have to pay MM to keep your open positions open if the market goes against your positions to the extend that the Ratio on your account to fall to 70% or less . If you fail to pay the MM when due, it can result in closure or hedging(locking) of your open positions. 
  6. The amount of MM you must top up your trading account with is the amount needed to make the Ratio equals to or greater than 100%. 
  7. If you have failed to pay Maintenance Margin or the Ratio on your account has fallen to 50% or below we will close or hedge (lock) some or all open positions on your account. We normally do this to the extent necessary to take your Ratio to more than 100%. This is an automated process. Usually we close open positions showing the biggest loss first, but that is not guaranteed. We can close or hedge some or all of your open positions and cancel some or all Orders without giving you notice. You will be able to tell from the trade history on the trading platform if this has occurred.
  8. Payments in relation to Maintenance Margin:
    • ​​​​​​​​​​​Maintenance Margin does not represent your total liability to us. You must also, for example, pay to us any losses you have incurred on closed positions as well as any other amounts payable under the Terms;
    • subject to our approval to your request, we can allow your open positions to run, and allow you to open new positions, even if you have only partially paid the required Maintenance Margin.
  9. ​​​​​​​You must monitor your Account, and all relevant factors, so that you know your Equity, Ratio and Usable and whether or not MM is payable. When you open a locked position (the contrary position) you will not be asked for additional margin (MM) as long as your ratio is higher than 100% on your Trading Account. Since the ratio expresses the relation between the Equity and the Necessary Margin you can see that as long as you have positive Usable (Ratio > 100%) you will be able to open locked positions without additional margin. If you don’t have positive Usable you won't be able to open any new position including locking position.
  10. It is in your own best interests to make sure you understand how to calculate the Equity, Ratio, Usable and Maintenance Margin. If you are in any doubt contact Customer Service.


  1. We offer an extensive range of markets and in line with our growth strategy we will continue to add to the range of financial contracts and markets that we offer. For a detailed description of the markets offered particular to the trading platform you are using you should refer to our Online Trading information which are available on our website.
  2. The customer fully understand and hereby acknowledges and accepts that the products traded on our trading platform are for spot/cash/OTC markets only and which are not the subject of any Futures or Exchange transaction. 
  3. Our products may be related to any of the world financial markets and Contract For Difference and are settled on a cash basis with no physical delivery. 
  4. The products offered are for customer’s own intention of hedging, investment or other purpose and in relation to each contract, the customer is protecting its own pre-existing interest and is not thereby entering into a gaming or wagering transaction. 
  5. The products bid and offer prices may be quoted with reference to the prevailing price or related markets in one or various source inclusive of basis.
  6. In respect on each transaction Customer and IPL are trading respectively as principals and on their own accounts. IPL is not providing any facility in respect of the purchase, sale, exchange or storage of the products on behalf of the customer.
  7. In some jurisdictions, IPL is permitted to effect off exchange transactions. IPL with which the customer conducts the transactions may be acting as the counterparty to the transaction. Off exchange transaction may be less regulated or subject to a separate regulatory regime. Before the customer undertake such transactions, the customer should familiarize themselves with the applicable rules and attendant risks


  1. We offer either fixed or variable spread accounts and we will make every effort to keep these spreads as tight as possible.
  2. We reserve the right to change our spreads at any time; this may be for a number of reasons including extreme volatility or lack of liquidity.

Scalping Policy

  1. Our scalping policy will apply to any market that is traded through your use of any of IPL’s trading platforms.
  2. We define scalping as when a trader, often using high leverage, attempts to take advantage of a price discrepancy or anomaly in the market in a very short period of time, often just a few seconds. This anomaly can be caused by latent prices; which is when delays in updates occur, these may be small however they can still be exploited.
  3. By providing fixed spreads and liquidity to you, where it is possible to do so, we try to help you trade in volatile global financial markets by giving you greater price stability. We do not provide fixed spreads and liquidity to enable Scalping and will deem any instance of Scalping to be a Manifest Error (for more information on the treatment of Manifest Errors please see section 17). Scalping is considered a breach by you of our Terms of Business and may result in the immediate termination of your account and your access to our platforms.
  4. We reserve the right at any point to change your underlying liquidity feed to another to protect ourselves against abuse of all kinds including scalping, we may change your spreads from fixed to variable, and we have no requirement to give notice or warning of any kind. We are not obligated to change the liquidity feed and may take any other action permitted by our Terms of Business. 

Deposit and Withdrawal

  1. You can instantly fund your account on any platform that you may be using via direct bank transfer, funding through approved money merchants and affiliates, from our website.
  2. We reserve the right to pass on costs that are associated with taking deposits from you via debit or credit card. 
  3. You can fund your account via bank transfer, however, this will not instantly appear on your trading account on the trading platform you are using, you should inform us when you have funded your account in this manner We will inform you via email when these funds have been added to your trading account. 
  4. We will not accept or make a third party payment unless, at our absolute discretion, we have agreed to do so in strict adherence to anti money laundering regulations.
  5. We do not accept payment via cheque.
  6. You can request to withdraw funds via the website under the withdrawal of funds tab or via email to this is not an automatic process so the funds will remain on your account until they are manually removed. If at the time we try to remove the funds you do not have enough cleared funds in your account we will inform you via email.
  7. In the first instance we will always return funds to the original source.
  8. If for whatever reason transactions on your account have been queried by any regulatory bodies we reserve the right to suspend your account until subsequent resolution.
  9. If for any reason the balance of your account becomes negative which may have occurred due to market gapping (see section 19) you are required to clear this balance. If for any reason you have not cleared this balance within 7 days or come to an agreement with us regarding repayment we will take any action necessary to recover the debt. During the recovery process we will charge an interest rate, accrued on a daily basis, of 5% above the prevailing base rate at any other financial institution selected by us at our absolute discretion.


  1. IPL may elect to grant a benefit to Customer by depositing bonus amounts in Customer's trading account, subject to certain terms and conditions as shall be determined by IPL, at its sole discretion. Such bonus amounts may not be withdrawn by Customer, unless Customer complies with the applicable trading requirements posted on IPL's website as may be amended from time to time or as communicated to Customer.
  2. If IPL suspects or has reason to believe that Customer has attempted fraudulent activity in order to claim a bonus, or any other promotion, IPL reserves the right to: 
    • ​​​​​​​​​​​​​​Cancel or reject the bonus promotion, and any related Trading Agent bonus, at its sole discretion 
    • To terminate Customer’s access to services provided by IPL and/or terminate the contract between IPL and the Customer for the provision of services, 
    • To block Customer's Account(s) and to arrange for the transfer of any unused balance to Customer. 
  3. If IPL suspects or has reason to believe that Customer has abused the terms and conditions of a bonus offer by hedging positions internally (using other trading accounts held with IPL) or externally (using other trading accounts held with other brokers), IPL reserves the right to cancel bonuses, and any trades or profits associated with Customer’s account(s). 
  4. Bonus promotions may be restricted in certain jurisdictions. 
  5. IPL reserves the right to cancel or reject bonus promotions at its sole discretion. 

Trade Size Per Quote

  1. The minimum trade size per quote is 1 contract (we refer to contract as ‘lot’) and the maximum trade size per quote is 10 contracts (10 lots). Customers who wish for a bigger maximum trade size per quote may request in writing to .

Manifest Error

  1. A Manifest Error can occur when a price is dealt on that is wrong; this may be, as a result of an error, omission or misquote, whether by us or a third party, latent prices due to a slow internet feed
  2. If a trade or Order is based on a Manifest Error we can acting reasonably and in good faith
    • ​​​​​​​​​​​​​​void the trade. In doing this we will close the relevant trade as if it has never been placed
    • cancel the Order
    • close the trade (at the IPL Price on closure)
    • adjust the trade or Order, so that it is the trade or Order that would have been placed without the Manifest Error
  3. ​​​​​​​We can exercise the above rights regardless of the effect it may have on your other open positions or Orders, or other positions you may have with a third party and even if a loss arises as a result.

Force Majeure

  1. If we are prevented, hindered or delayed from performing any of our obligations under this Terms Of Business by a Force Majeure Event, then our obligations under this Terms Of Business will be suspended for so long as the Force Majeure Event continues and to the extent that we are so prevented, hindered or delayed. We will not be deemed to be in breach of this Terms & conditions or otherwise be liable to you by reason of any delay or failure in performance of any of the obligations under this Terms & condition to the extent that the delay or failure is caused by a Force Majeure Event, and time for performance will be extended accordingly.
  2. A Force Majeure Event means
    • acts of God, war, hostilities, riot, fire, explosion, accident, flood, sabotage, power supply interruption, failure of communications equipment, lock-out or injunction, compliance with governmental laws (domestic or foreign), regulations or orders or breakage or failure of machinery;
    • the suspension or closure of any market or the abandonment or failure of any event on which we base our quotes or to which our quotes may relate or the imposition of limits or special or unusual terms on trading in any such market or on any such event; or 
    • the occurrence of excessive movement in the price of, or loss in the liquidity of, any of our indices or Products and/or any corresponding market, or our reasonable anticipation of such, or any other cause whether or not of the class or kind referred to above which affects performance of this Terms & condition arising from or attributable to acts, events, omissions or accidents beyond our reasonable control. 


  1. Gapping occurs when a market jumps (or gaps) often following a news announcement or when a market has been closed and there has been an occurrence which has changed where the market will reopen.
  2. This may cause slippage which is when the price moves past the price at which you have set your order. In such a circumstance the order will be executed close to or a number of pips away from your requested price. Please be advised that ‘slippage’ is a normal market practice and a regular feature of the Foreign Exchange and CFD markets under conditions such as illiquidity and volatility due to news announcements, economic events and market openings. IPL's automated execution software does not operate based on any individual parameters related to the execution of orders through any specific client accounts.
  3. Additionally, markets may also be extremely busy when the underlying market becomes volatile and, in accordance with our order execution policy, we will execute orders on a first-in-first-traded basis. This may result in your stop loss order being executed at a price significantly below your stop loss order price in a rapidly falling underlying market, or being executed at a price significantly above your stop loss in a rapidly rising market.
  4. You should take care when you are trading that you are aware of any market news that may be due that may affect the market that you are trading, if you trade over a news announcement you should be aware that the price you actually trade at can be vastly different from the level you intended.
  5. Slippage can be both negative, i.e. you are filled at a worse price than you anticipated, or positive, i.e. you are filled at a better price than you anticipated. 
  6. IPL will always pass on improvements in price irrespective of the market traded.

Communication, Contract Notes & Statements

  1. It is your responsibility to provide us with current and up to date contact details when opening your account and to keep us up to date with any changes to these details
  2. You can contact us via email, live chat or telephone
  3. You hereby consent to all telephone communications made by or to you or on behalf of you with us being recorded. These recordings will be our sole property and may be used for training purposes, to confirm instructions, as evidence in the event of a dispute.
  4. We will report to you as follows
    • ​​​​​​​​​​​​​​a confirmation will be shown on the Trading Platform in respect of each open position immediately after the trade has been executed
    • a daily recap of trades will be available to you on your trading account statement and ledger available in your trading platform after the trades were executed;
  5. ​​​​​​​You should check your confirmations and statements as soon as possible. Please tell us immediately, or in any event within 2 business days, if you think anything is wrong or missing. 
  6. If you do not receive a confirmation, that will not affect the validity of any orders or trades placed, however you must notify us to inform us you have not received a confirmation you are expecting.
  7. You can also contact us to ask for further information in relation to your Account or the status of any open positions or Orders.

Treating Customers Fairly

  1. We are committed to offering you the best possible standards of service and we will constantly monitor our processes and procedures to ensure that we meet the highest standards expected of us. 
  2. In order to achieve these standards we will ensure that
    • ​​​​​​​​​​​​​​All staff have the highest possible levels of training and product and platform knowledge.
    • You are aware of the risks associated with your trading activity and those risks inherent in Forex and CFD trading.
    • All our charges are transparent and fair,
    • You are encouraged to ask if there is anything you don’t understand
    • All our platforms and products are clearly defined, easily understood and easy to use and trade
    • All our financial promotions are clear, fair and not misleading
    • We have a clear and simple complaints procedure should you become unhappy with our service, and that all complaints are handled fairly and promptly.

Third Party Providers

  1. We may use third party providers in various aspects of our business, including education, news feeds etc., and we do not accept any liability for any information that they provide that may be published on our website or via any other means.
  2. We accept no liability over any losses made by you relying on any information that we or any third party provides

These Terms came into force on the day we allocated you an Account number. The Terms may be terminated:

  1. The customer fail to deposit, maintain or make payment of Security Deposit (we refer to as Margin) or Maintenance Margin.
  2. The customer is insolvent or is unable to pay its debts or stopped paying its debts due to IPL. 
  3. The customer fail to observe or perform any of its obligations under these Terms.
  4. The customer enters into liquidation whether compulsorily or voluntarily or makes any arrangement or composition with its creditors or a receiver and manager is appointed over all or any part of its assets or property.
  5. If any distress, charging orders, garnishee order, execution or other process is levied against the customer or action is taken to repossess the assets, goods and/or properties in the possession or control of the customer.
  6. If IPL in its absolute discretion deem it necessary for its protection for any reason whatsoever.
  7. Termination by you giving us forty five (45) days written notice to close your Account;
  8. Termination by us giving you forty five (45) days written notice that we will close your Account, and penalty 30% for manage account program and 70% for VIP and Manage Fund if as yet complete for one year contract.  
  9. Upon such notice being given, any open Trades will continue until they are closed in accordance with this Terms Of Business. The service of any termination notice will not affect any obligation or liability that may have already arisen in connection with any open Trades or otherwise under this Terms Of Business.
  10. Cancellation or termination of these Terms and the closure of your Account will not affect: -
    • ​​​​​​​​​​​​​​Any rights, obligations or liabilities that have arisen on or prior to cancellation, termination or closure including in relation to any open position or Orders. This means, in particular, that we will both continue to be liable to pay each other amounts payable;
    • Any provision of these Terms which expressly or by implication is intended to survive cancellation, termination or closure – for example to deal with closing open positions or to calculate amounts
  11. ​​​​​​​IPL may in its absolute discretion without notice to customer terminate the account/s and/or close out the customer’s open position in whole or in part, sell any or all of the customer’s property held by IPL, buy any of the property or item/s for the account/s, and cancel any outstanding orders and commitments made by IPL on behalf of the customer provided always that the customer shall be liable to IPL for any deficiency.

Law & Jurisdiction

  1. These terms of business apply to all trades or orders of any type carried out with us on any of our platforms and are governed by the laws of British Virgin Island’s (BVI).
  2. Except for the right of IPL in this Terms Of Business, the courts of BVI will have exclusive jurisdiction over any claim or matter arising under or in connection with these Terms and the legal relationships established by these Terms. Nothing in this clause shall limit the right of IPL to take proceedings against you in any other court of competent jurisdiction, nor shall the taking of proceedings in any one or more jurisdictions preclude the taking of proceedings in any other jurisdictions, whether concurrently or not, to the full extent permitted by the law of such other jurisdictions.
  3. If any part of any provision of this Terms Of Business is invalid or unenforceable, then the remainder of such provision and all other provisions of this Terms Of Business will remain valid and enforceable.
  4. If these Terms of Business have been translated into any other language, then it is these original Terms of Business, written in English, which will deemed to be legally binding.


  1. You may not assign or transfer any of your rights or obligations under this Terms Of Business.
  2. Provided that in doing so IPL under compliance, it can assign, transfer, charge, sub-contract or deal in any manner (in whole or in part) with its rights and/or liabilities under this Terms Of Business.

Market Abuse

  1. You undertake that any trade made with us will not contravene market abuse rules.
  2. We may hedge all or some of our exposure to you by opening positions with other institutions thereby exerting a distorting influence on the underlying market.

Limitation & Liability

  1. Trading in Foreign Exchange and CFD markets is suitable only for those sophisticated institutions or sophisticated participants financially able to withstand losses which may equal the value of margins or deposits. Foreign Exchange and CFD markets accounts are not available through IPL to non-sophisticated participant.
  2. IPL will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or any other cause beyond IPL’s control or anticipation. IPL shall not be liable for losses arising from the default of any agent or any other party used by IPL under this agreement. As the products offered by IPL on its trading platform is not an exchange traded market, prices at which IPL deals at or quotes may or may not be similar to prices at which other market makers deal at or quote.
  3. Customer acknowledges that investment in leveraged and non-leveraged transactions are speculative, involves a high degree of risk, and is appropriate only for persons who can assume risk of loss of their entire margin deposit. Customer understands that because of the low margin normally required in Foreign Exchange and CFD markets trading, a small price changes may result in significant losses and profits. Customer warrants that customer is willing and able, financially and otherwise, to assume the risk of such trading and in consideration of IPL’s carrying the customer’s account/s, the customer agrees not to hold IPL responsible for losses incurred through following trading recommendations or suggestions of its agents. Customer recognizes that guarantees of profit or freedom from loss are impossible of performance in Foreign Exchange and CFD markets trading. Customer acknowledges that customer has received no such guarantees from IPL or any introducing agent or other entity with whom customer is conducting his/her IPL account and has not entered into this agreement in consideration of or in reliance upon any such guarantees or similar representations.
  4. Customer acknowledges that should customer grant trading authority or control over customer’s account to a third party (trading agent), whether on a discretionary or non-discretionary basis, IPL shall in no way be responsible for reviewing customer’s choice of such trading agent nor making any recommendations concerning the trading agent, that IPL shall not be responsible for any loss to customer occasioned by the actions of the trading agent and that IPL does not, by implication or otherwise, endorse or approve of the operating methods of the trading agent. If customer gives trading agent authority to exercise any of its rights over customer’s account/s, customer understands that customer does so at customer’s own risk. 
  5. The customer hereby acknowledges that he/she has read, understands the contents of this Terms Of Business, rules and practice under the schedule and hereby agrees to be bound by the same.

Waivers & Amendments

  1. If you or we delay in exercising or fail to exercise any right or remedy, that will not be a waiver of that (or any other) right or remedy. Also it will not prevent any future exercise of that right or remedy.
  2. No single or partial exercise of any right or remedy shall preclude or restrict the further exercise of that right or remedy.
  3. A waiver or consent only applies in the circumstances for which it was given and does not prevent the party who gave that waiver or consent from subsequently requiring compliance with any provision it has waived or in respect of which it consented to non-compliance.
  4. If you or we waive a particular breach, that will not be a waiver of any other breach and will not affect any other Terms.
  5. We can in particular waive or relax any of the obligations you owe to us, for example in relation to minimum and maximum trade sizes, Initial Margin and Maintenance Margin. However if we do this we can subsequently require full compliance with the relevant obligation.
  6. If either of us agrees any release, postponement or settlement of any liability of the other owed to it, that will not affect or prejudice any of the other liabilities owed to it or its other rights.
  7. We will be entitled to amend or vary the Terms Of Business from time to time.
  8. Any Amendment or variation will apply to all open trades or Orders as at and after the effective date of the change. You are at liberty to close any open trades and terminate this agreement if you do not agree to the Amendment or variation.

Privacy & Data Protection

  1. We recognise how important your personal and financial information is and we will ensure that we offer you a secure website and strict internal procedures that will protect this.
  2. We undertake that we will not sell your personal information to any third parties.
  3. We do not maintain your credit / debit card details on our servers.
  4. When you provide us with personal information you consent to us and our Associated Companies processing your information for purposes of establishing and administering an account in respect of the Services we offer. We do this in accordance with our privacy and security policy.
  5. All our staff with access to your personal information are trained in the handling of such and we keep all hard and soft copy information in a secure location.

About These Terms

  1. if we use the expression “including”, “include”, “in particular”, “for example” or the letters “e.g.” or anything similar, that means that the words following are given by way of example only and do not limit words preceding those expressions
  2. “trade” (and analogous expressions) include references to opening or closing a position, placing or cancelling an Order and the execution of an Order be it Forex or CFD 
  3. when we refer to giving you “written” notice, that notice may be given by any electronic means, including by e-mail, by publication on the Website or by sending it via the Trading Platform
  4. unless otherwise stated, all times stated refer to BVI time

Conflicts Of Interest

  1. A conflict of interest can arise between IPL, our directors and staff and fellow group companies and associates and you as a client. They may also arise (directly or indirectly) between your interests and those of another client of ours. 
  2. A conflict of interest can occur in various ways and may for example arise in respect of the fairness in allocation of such ‘block trades’, where we undertake trades in relation to more than one client. Market quotes are given by us on a real-time and open basis for clients to trade where they so desire. Where a trade is to be executed on behalf of more than one client (a “block trade”), our Order Execution Policy stipulates that orders must be filled on a first-in-first-filled basis and thus manages the potential or real conflict between our clients’ interests. All trades are recorded on a real-time basis. 
  3. We will follow the general principles and policies that govern our business, where other instances arise which might give rise to a conflict of interest. 
  4. Under such general principles, IPL and its employees should not directly or indirectly: 
    • ​​​​​​​​​​​​​​make any financial gain, or avoid any financial loss, at the expense of any client;
    • have an interest in the outcome of a service provided to a client, or a transaction carried out on a client’s behalf, which is distinct from the client’s interest in that outcome;
    • have a financial or other incentive to favour the interests of one client or group of clients over the interests of another client or group of clients;
    • carry on the same business as a client;
    • receive from any person an inducement in relation to a service provided to a client in the form of monies, goods or services, other than the standard commission or fee paid by the client for that service. 
  5. IPL employees are trained to identify the risk of conflicts and to report where actual or potential conflicts exist. Our compliance department regularly conducts independent monitoring of our activities including an analysis of client dealing and our position in markets at the time of client trade execution.
  6. Where appropriate, we provide for segregation of activities and duties to ensure independence. In those areas where there is greater risk of potential conflicts of interest, we seek to segregate specific transactions so that they are performed independently from other transactions where a conflict of interest could arise.
  7. Our Regulatory Compliance Committee comprises senior executives who are charged with the responsibility of overseeing all of our operations so as to ensure that all clients are treated fairly and ensure the systems and controls are maintained to manage any potential conflicts appropriately.
  8. Where we identify an actual or potential conflict of interest, we may take the following steps:
    • decline to act where there is a potential conflict or cease engaging in the activity leading to the conflict;
    • accept the conflict of interest but take steps to protect your interests; or
    • disclose the conflict of interest and/or obtain your consent to act.
  9. ​​​​​​​Some conflicts of interest cannot be satisfactorily managed either by declining to act or protecting your interests. In such cases, we will disclose appropriate and proportionate information to you or, as needed, obtain your consent to act.

No Separate Agreements

  1. Customer acknowledges that Customer has no separate agreement with IPL or any of its employees or agents regarding the trading in Customer’s IPL account, including any agreement to guarantee profits or limit losses in Customer’s account. 
  2. Customer understands that Customer must authorize every transaction prior to its execution unless Customer has delegated discretion to another party by signing IPL’s limited trading authorization or as otherwise agreed in writing with IPL, and any disputed transactions must be brought to the attention of IPL’s Compliance Officer pursuant to the notice requirements of this Terms Of Business. 
  3. Customer agrees to indemnify and hold IPL and its subsidiaries, affiliates and agents harmless from all damages or liability resulting from Customer’s failure to immediately notify IPL’s Compliance Officer of any of the occurrences referred to herein.

Marketing Partner Referral Disclosure

  1. IPL may engage with advertising affiliates/referrers/marketing partner/introducing brokers (Marketing Partners) who are wholly separate and independent from one another and from IPL. Any agreement between IPL and Marketing Partner does not establish a joint venture or partnership and Marketing Partner is not an agent or employee of IPL. 
  2. IPL does not control, and cannot endorse or vouch for the accuracy or completeness of any information or advice Customer may have received or may receive in the future from IPL’s Marketing Partners or from any other person not employed by, or acting on behalf of IPL, regarding the risks involved in the trading of Forex and CFDs, or the risks involved in such trading. 
  3. Since Marketing Partner is not an employee or agent of IPL, IPL does not endorse or vouch for the services provided by the Marketing Partner. It is the Customer’s responsibility to perform necessary due diligence on the Marketing Partner prior to using any of their services. 
  4. Customer understands that in order to trade with IPL the Customer must open an account directly with IPL. IPL makes available appropriate risk disclosure information to all Customers when they open accounts. Customers should read that information carefully and should not rely on any information to the contrary from any other source. 
  5. Customer acknowledges that no representations and/or warranties have been made by IPL its servants or agents or any individual associated with IPL regarding future profits or losses in Customer’s account. 
  6. Customer understands that Forex and CFDs trading is very risky, and that many people lose money trading and that all Forex and CFDs trading, including trading done pursuant to a system, course, program, research or recommendations of Marketing Partner, Trading Agent or any other third party involves a substantial risk of loss. In addition, Customer hereby acknowledges, agrees and understands that the use of a trading system, course, program, research or recommendations of Marketing Partner, Trading Agent or any other third party will not necessarily result in profits, avoid losses or limit losses. 
  7. Customer understands and acknowledges that IPL may remunerate a Marketing Partner for referring Customer to IPL and that such remuneration may be on a per-trade basis or other basis. Further, the Client has a right to be informed of the precise nature of such remuneration.
  8. Customer acknowledges that a Marketing Partner may also, in some circumstances, be a Trading Agent. Customer understands that by using a Trading Agent, Customer may incur a mark-up, above and beyond the ordinary spread generally provided by IPL. 
  9. IPL shall in no way be responsible for any loss to Customer resulting from Customer's use of any information or advice given by any third party including a Trading Agent or Marketing Partner. 

Trading Agents

  1. Customer acknowledges that should Customer choose to grant trading authority or control over Customer’s account to a third party ("Trading Agent"), whether on a discretionary or non-discretionary basis, Customer does so at its own risk. 
  2. Customer acknowledges that IPL, its subsidiaries, affiliates or agents shall in no way be responsible for reviewing Customer’s choice of such Trading Agent, or the actions taken by it, nor making any recommendations with respect thereto .
  3. Customer acknowledges and understands that IPL makes no warranties nor representations concerning any Trading Agent; That its subsidiaries, affiliates or agents shall not be responsible for any loss to Customer occasioned by the actions of the Trading Agent, and That IPL does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent .
  4. Customer acknowledges that the Trading Agent and many third party vendors of trading systems, courses, programs, research or recommendations may not be regulated by a government agency. It is the Customer’s responsibility to perform necessary due diligence on the Trading Agent prior to using any of their services and to satisfy themselves of its competence and/or suitability to the Customer. 
  5. Customer acknowledges that it or the Trading Agent may elect to use an automated trading system. Customer acknowledges that IPL does not take any responsibility for any such system. The Customer is aware of the volume of trading and resulting commissions that such systems may generate and the impact that this may have on the performance of the Account. Customer accepts the risks associated with the use of computers and data feed systems, which may include, but are not limited to, failure of hardware, software or communication lines or systems and/or inaccurate external data feeds provided by third-party vendors and the Customer further agrees to hold IPL harmless from any losses in the Account associated with these risks. Customer acknowledges that neither IPL nor any of its officers, directors, vendors, employees, agents, associated persons or IPL personnel will be liable for any such breakdown or failure. 
  6. Customer understands that by using a Trading Agent, Customer may incur a mark-up, above and beyond the ordinary spread generally provided by IPL. Details of any such mark up will be provided in the agreement between the Trading Agent and Customer. 
  7. Customer acknowledges that any decisions or actions taken by the Trading Agent on Customer’s behalf shall be deemed to have been taken by the Customer and any losses or gains generated by the Trading Agent’s action shall be for the Customer’s account. 
  8. Customer agrees to indemnify and hold IPL, harmless from and against all liabilities, losses, damages, cost and expenses, including attorney's fees that arise directly or indirectly from the Trading Agent's management of the account, including, without limitation all actions, instructions or omissions by the Trading Agent. 
  9. The Customer acknowledges that the risk factor in trading Forex and CFDs is substantially high, and therefore the Customer further acknowledges that she/he should carefully consider trading through IPL, whether through a Trading Agent or otherwise, if the Trader does not have capital she/he can afford to lose. 

Risk Disclosure Notice

Contracts for Difference (CFD) are complex financial products, of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary. It should be noted that it is impossible for the Notice to contain all the risks and aspects involved in trading CFD; you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration the following:

  1. PRODUCT - A CFD is an agreement to either buy or sell a contract that reflects the performance of, including amongst others, forex, precious metals, agricultural products, and shares; the profit or loss of is determined by the difference between the price a CFD is bought at and the price is sold at and vice versa. CFDs are traded on margin and it should be noted that no physical delivery of either the CFD or underlying asset is occurring. It should also be noted that when you purchase, for example, CFDs on shares you are merely speculating on the share’s value to either increase or decrease. CFDs fluctuate in value during the day; the price movements of CFDs are determined by a number of factors including but not limited to availability of market information.
  2. PERFORMANCE - It should be noted that past performance of Forex and CFD is not a useful indicator of future performance.
  3. TRANSACTIONS - Prior to trading Forex and CFD, you need to ensure that you understand the risks involved. Forex and CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products. The value of Forex and CFD may increase or decrease depending on market conditions. Due to the fact that Forex and CFD are leveraged products, engaging in Forex and CFD trading may not be suitable for you and independent advice should be sought if necessary. The potential for profit must be balanced alongside prudent risk management given the significant losses that may be generated over a very short period of time when trading Forex and CFD. You should not commence trading in Forex and CFDs unless you understand the risks involved.
  4. CAPITAL LOSS – Forex and CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. However, it should be noted that IPL’s online trading software provides ‘stop loss’ facility which means you can pre-determine the maximum amount of risk to take before initiating any transaction.
  5. CREDIT RISK - When trading Forex and CFDs, you are effectively entering into an over-the-counter (OTC) transaction; this implies that any position opened with IPL cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions occurring on regulated markets, for example traditional exchanges; this is due to the fact that in OTC transactions there is no central counterparty and either party to the transaction bears certain credit risk (or risk of default).
  6. LEVERAGE – Forex and CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, it should be noted that leverage, or gearing as it is often referred to, means that a relatively small market movement may lead to a proportionately much larger movement in the value of your position. Leverage can lead to large profits as well as losses. 
  7. MARGIN - You need to ensure that you have sufficient margin on your trading account, at all times, in order to maintain an open position. In addition, you need to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds. At ratio level of 70% (seventy) IPL shall issue margin call notice. At ratio levels of 50% (fifty) IPL has the discretion to begin closing or hedging positions at Fair Stop Out. 
  8. ABNORMAL MARKET CONDITIONS - Under abnormal market conditions, Forex and CFD may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by IPL or you. As a result, IPL may be unable to execute your instructions at the declared price and a ‘stop loss’ instruction cannot guarantee to limit the latter’s loss. CFD prices are influenced by, amongst other things, implementation of governmental, agricultural, commercial and trade programs and policies and national and international socioeconomic and political events.
  9. TRADING PLATFORM CONDITIONS - You accept that the only reliable source of price related information is the Quotes represented on the real/ live server; this service may be disrupted and as a result price related information may not reach the client. You shall regularly consult the ‘Help’ menu or User Guide of the trading platform(s); if a conflict arises the Service Agreement shall prevail unless IPL determines, in its sole discretion, otherwise.
  10. COMMUNICATION - IPL bears no responsibility for any loss that arises as a result of delayed or un-received communication sent to you by IPL. In addition, IPL bears no responsibility for any loss that arises as a result of unencrypted information sent to you by IPL that has been accessed via unauthorized means. IPL bears no responsibility for any un-received or unread internal messages sent to you through the trading platform(s); in case a message is not received or read within 7 (seven) calendar days the message gets automatically deleted. You are solely responsible for the privacy of any information contained within the communication received by IPL. Moreover, you accept that any loss that arises as a result of unauthorized access of a third party to your trading account is not the responsibility of IPL.
  11. ACCOUNT REVIEW - Through the trading platform(s), you may review any of your trading account’s information, including but not limited to open and closed positions. In addition, through you may manage your account and deposit or withdraw money depending on your trading needs.
  12. COSTS AND OTHER CONSIDERATIONS - Prior to trading Forex and CFD you need to consider the costs involved such as spread(s) and commission(s). Not all costs are represented in monetary terms (for example, costs may appear as a percentage of the value of a CFD). IPL reserves the right to change, from time to time, any of the costs applicable to trading Forex and CFD; you understand and accept that the most up-to-date information in relation to costs is available online at the IPL website.

Appendix A – Order Types
We set out below the available types of Orders. 

  1. Buy Limit Order: An Order to place a buy trade at an execution price below the current IPL Ask Price, to be executed when the IPL Ask Price (for the relevant Market) reaches or trades through that level. If the IPL Ask Price reaches the execution price, at which the Order has been placed, during Market hours then the Order will be executed. If the Market closes above, but opens below the Order level, then the Order will be filled at the first IPL Ask Price (for the relevant Market) reasonably available below the Order level.
  2. Sell Limit Order: An Order to place a sell trade at an execution price above the current IPL Bid Price (for the relevant Market), to be executed when the IPL Bid Price (for the relevant Market) reaches or trades through that level. If the IPL Bid Price reaches the execution price, at which the Order has been placed, during Market hours then the Order will be executed. If the Market closes below, but opens above the Order level, then the order will be filled at the first IPL Bid Price (for the relevant Market) reasonably available above the Order level.
  3. Limit Order: This is the expression we use to cover a Buy Limit Order and Sell Limit Order.
  4. Buy Stop Order: An Order to place a buy trade at an execution price above the current IPL Ask Price, to be executed when the IPL Ask Price (for the relevant Market) reaches or trades through that level. If the IPL Ask Price reaches the execution price, at which the Order has been placed, during Market hours then the Order will be executed. If the Market closes below, but opens above the Order level, then the Order will be filled at the first IPL Ask Price (for the relevant Market) reasonably available above the Order level.
  5. Sell Stop Order: An Order to place a sell trade at an execution price below the current IPL Bid Price, to be executed when the IPL Bid Price (for the relevant Market) reaches or trades through that level. If the IPL Bid Price reaches the execution price, at which the Order has been placed, during Market hours then the Order will be executed. If the Market closes above, but opens below the Order level, then the order will be filled at the first IPL Bid Price (for the relevant Market) reasonably available below the Order level.
  6. Stop Order: This is the expression we use to cover a Buy Stop Order and Sell Stop Order. Stop Order should be placed at a minimum of 10 pips away from the current market price;
  7. Instant Order (Market Order): This is an order to either buy or sell at the ‘ask’ or ‘bid’ price (respectively) as it appears in the quotes flow at the time the client presents the order for execution.
  8. Pending Order: This is the expression we use to cover Stop Order and Limit Order which are already placed into the market but not yet executed. Pending Order will be executed as an Instant Order, to buy or sell once the market reaches the order’s specified market level. If the Pending Order is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section or until the Pending Order is cancelled by the customer. The customer may modify/ cancel a pending order if the market did not reach the level of the price specified by the client.
  9. Good till Cancel Order (GTC): This is a time setting that the client may apply to pending orders. The client may choose a specific date in the future until which the order may remain ‘live’ and pending execution; if the order is not triggered during this time frame it shall be deleted from the system. 
  10. One-Cancels-the-Other Order (OCO): A pair of orders stipulating that if one order is executed, then the other order is automatically canceled. A one-cancels-the-other order (OCO) combines a stop order with a limit order on an automated trading platform. When either the stop or limit level is reached and the order executed, the other order will be automatically canceled.