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Machine operator

Johannesburg, Gauteng, South Africa
2500 a week
October 20, 2021

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Retail Clients Terms of Business

These Terms of Business are effective from 15st February 2021 This document is important. It sets out the terms and conditions on which we will conduct business with you, including limits on our liability to you in paragraph 24. Please read this document carefully. You should contact us if anything is unclear. 1. INTRODUCTION

1.1 This agreement sets out the legally binding terms and conditions between you and us, OANDA Global Markets Limited, which apply when you use our services. This agreement replaces any previous terms of business between you and us. 1.2 OANDA Global Markets Limited provides online trading platforms (including its own and third party platforms, such as MT4), which allows you to trade investment products known as contracts for difference (our "Products" or "CFDs"). We allow you to trade our Products in various underlying instruments, including foreign exchange, indices, commodities, metals and bonds, and other instruments (for example but not limited to equities and cryptocurrencies) from time to time which may be displayed on our Trading Platform. Trading Platform is defined in Annex 1, and different products may be traded on different platforms (and which may from time to time be governed by a supplemental agreement). The full extent of the services we provide and the risks involved are set out below. 1.3 Trading our Products is high risk and can result in losses that exceed the total sum you have invested. All negative balances are payable.

1.4 By registering to use our Trading Platform or Software, you agree to the terms and conditions in this agreement, our Privacy Policy and Terms of Use. We refer to these documents collectively as the "Agreement". You should read the Agreement carefully before using our services. A copy of the Agreement, and other relevant documents relating to our services, are available from your online Account and may be found on our Website. 1.5 OANDA Global Markets Limited is authorised and regulated by the British Virgin Island (BVI) Financial Services Commission. You can contact the FSC in the following ways: Telephone +1-284-***-****




Post 18 Pasea Estate Road

Road Town, TORTOLA, VG1110


1.6 When we refer to "you" and "your" in this Agreement, we mean a registered user of our Trading Platform, as well as any Authorised Person authorised to operate your Account. 1.7 Certain words or phrases that are capitalised in this Agreement have a specific meaning. Annex 1 explains the meaning of these words or phrases. You should refer to these meanings as you read this Agreement.


2.1 OANDA Global Markets Limited is a private limited company registered in the British Virgin Islands (company registration number 2026433). Our registered address is at: MCS BVI, 2

Kingston Chambers, PO Box 173, Road Town, Tortola, British Virgin Islands. We refer to OANDA Global Markets Limited in this agreement as "OANDA", "We", "Our" and "Us". 2.2 You can contact us in the following ways:

Telephone +1-855-***-****

Our telephone lines are open during regular business hours on Business Days.


Post OANDA Global Markets Limited

MCS BVI, Kingston Chambers

PO Box 173

Road Town, Tortola, British Virgin Islands


3.1 We may communicate with you by telephone, letter, email, text message or by posting a message on the Trading Platform. We will use the contact details you gave us when you opened your Account or such other contact details as you may subsequently notify to us. 3.2 We will send all notices and statements relating to your Account to you by email and/or by posting them on the Trading Platform, unless you request otherwise and we agree to such request.

3.3 You agree that all Transactions will be entered into electronically and that such Transactions will be binding on you in accordance with this Agreement. 4. THE SERVICES WE PROVIDE

4.1 We provide you with the ability to trade our Products through our Trading Platform. 4.2 We allow you to trade using leverage, which can magnify your profits but also your losses. You can find out more about the risks associated with trading on leverage in paragraph 6, and on our Website.

4.3 We will act as principal and not as your agent when entering into Transactions. This means you are entering into contracts directly with us to buy and sell financial instruments. We are therefore not entering into a contract with any other person on your behalf. 4.4 You will enter into all Transactions with us on an execution only basis. An "execution only basis" means you will be solely responsible for all investment decisions and actions on your Account. You must therefore rely on your own judgment in respect of all dealings relating to your Account. This includes, but is not limited to, opening, closing, or not opening or closing, a Transaction.

4.5 When you enter into a Transaction with us, you are trading a derivative contract. A derivative is a contract which derives its price from an underlying asset. This underlying asset could (for example) be a share in a company, a commodity such as gold or the change in the exchange rate of currencies. You are therefore trading on potential price movements in the underlying asset, however you will not have any interest in or be entitled to delivery of the underlying asset.

5. WE DO NOT PROVIDE ADVICE AND ARE NOT AN INVESTMENT EXCHANGE 5.1 We will not make personal recommendations to you or give you any advice or recommendations including, for the avoidance of doubt, any tax related advice. Therefore, 3

any explanation we may provide as to the terms of a Transaction or its performance characteristics will not amount to advice.

5.2 It is your responsibility to evaluate each Transaction and ensure that it meets your requirements and investment preferences.

5.3 Our Trading Platform is not an Exchange or a market. This means you can only enter into Transactions with us on the Trading Platform and all Transactions opened on our Trading Platform must be closed on our Trading Platform, and cannot be closed with any other entity. Accordingly, we are responsible for the prices quoted on the Trading Platform. 6. WHAT ARE THE KEY RISKS OF USING OUR SERVICES?

6.1 Trading our Products carries a higher degree of risk than ordinary share or foreign exchange dealing and will not be appropriate for everyone.

6.2 Trading using leverage can result in losses. Trading with leverage magnifies your gains and losses, so small price changes in the underlying asset can result in large losses or gains. 6.3 Leverage is a form of borrowing. Trading using leverage allows you to trade without paying or depositing the full value of your position in advance. We take a form of security (or deposit) against any losses you may incur when you trade using leverage. This is known as Margin (see Paragraph 9).

6.4 We set the prescribed limits on the amount of leverage that a client may be exposed to on our Products. The leverage levels available to clients are available on our Website. 6.5 We set leverage levels and thereby the amount of Margin required for clients, and can make alterations for any reason.

6.6 The value of your investments may go up or down. 6.7 Past performance is not a guide to future performance. 6.8 We may perform a Margin Closeout if the markets move against you, and/or to comply with Applicable Law, as detailed further in paragraph 9. A Margin Closeout will result in us closing some or all of your Open Positions. This would realise any losses or gains on your Open Positions. We do not need to give you advance notice or time to respond to a Margin Closeout. This is detailed further in paragraph 9 below. 6.9 Trading our Products does not give you any right to the underlying instrument of the Transaction. Our Products represent a notional value only. 6.10 The spread we offer is not fixed. This means the prices and spreads we offer may vary at any time. Our spreads are discussed in more detail in paragraph 10 below. 6.11 You should ensure you fully understand the risks involved before using our services and take appropriate investment, financial, legal, tax and other necessary professional, independent advice.

6.12 You will be responsible for the payment of all negative balances. 7. CONFLICTS OF INTEREST

7.1 We are required to act in your best interests when providing our services, but there may be instances where your interests conflict with ours or those of another customer of ours. For example, we or people connected to us (such as our group companies):

(a) may enter into Transactions with you in which we or people connected to us have a material interest;


(b) may execute hedging Transactions before or after entering into a Transaction with you to manage our risk in relation to the Transaction, which may impact the price you pay or receive for such Transaction, and we will retain any profits generated by such hedging; and

(c) may enter into arrangements with third parties to or from whom we make or receive payments based on your trading activity.

7.2 Further, you trade against us (and no third parties) and we are responsible for setting the underlying prices. This could give rise to conflicts which we manage through our internal controls and policies.

7.3 We are not under any obligation to account to you for any profit, commission or remuneration we receive from such activities, other than as and if required by Applicable Law.

7.4 We will not disclose any conflict of interest to you provided we have managed such conflicts. If we cannot manage the conflict sufficiently, we will notify you of the conflict and the steps we have taken to mitigate the risk arising from such conflict so you can decide how to proceed.

7.5 You consent to us dealing with you despite your awareness of these possible conflicts. 8. OPENING AN ACCOUNT

8.1 If we open an Account for you, it will initially comprise of a landing account (also known as a wallet) and a trading account which will automatically be created when you make your first deposit.

8.2 You may then:-

(a) open multiple landing accounts (on which trades cannot be placed) denominated in different currencies, only one per available currency, that you wish to deposit or withdraw funds in; and

(b) open multiple trading accounts, denominated in different or the same currencies, or perhaps linked to different technologies offered through our Trading Platform, for example. We may limit the types and number of trading accounts that you can open at our discretion.

8.3 Your Account comprises of all your landing accounts and trading accounts. 8.4 You are only permitted to have one Account relationship with us. If we reasonably suspect you have more than one Account relationship, then we may close one of those Accounts and their associated landing and trading accounts without notice. 8.5 Additionally, funds may be deposited direct to a trading account, however, withdrawals can only be made from a landing account to ensure that they are unencumbered funds. 8.6 We will treat each trading account separately so your positions will not be netted across all your trading accounts.

8.7 We retain a right of set off between balances held on landing and trading accounts, in the event of a negative balance on one or more trading account. 8.8 You need to provide us with certain information about yourself before we can open an Account for you. This will include details of your personal and financial circumstances. We refer to this information as "Registration Data".


8.9 The Registration Data you provide to us must be complete, accurate and not misleading. We will rely on the Registration Data you provide to us unless we are aware that such information is manifestly out of date, inaccurate, misleading or incomplete. 8.10 You must notify us of any material changes to the Registration Data. We may ask you to update or confirm the Registration Data you previously provided to us from time to time. We may terminate this Agreement or suspend your Account if you fail to provide such information to us or if we believe that such information is not accurate. We will only take such steps if it is reasonable to do so.

8.11 From time to time, we may add to, modify or remove certain Account or landing or trading account types or the functionally of such accounts. This may result in changes to your Account, and/or landing accounts and/or trading accounts. We will try to minimise disruption to you if we do this. We will give you prior written notice where we believe our actions may result in detriment to you.

8.12 We may carry out credit and other checks (including but not limited to verification of identity, fraud prevention checks and checks into your current and past investment activities) from time to time as we deem appropriate. Your Registration Data or other information may be used in the prevention of money laundering as well as for the management of your Account. You authorise us to use your Registration Data and other information in this way. We will use your data in accordance with our Privacy Policy, which is available on our Website, and outlined in paragraph 28.

8.13 In electronically submitting the Account application form you are authorising us to make such searches as we see fit to certify that the information that you have supplied is complete and accurate. Such searches will include, but may not be restricted to, information from the electoral register and credit reference agencies. We may undertake searches with credit reference agencies, such as but not limited to: Equifax, Experian and GB Group for the purposes of verifying your identity. To do so the credit reference agency may check the details you supply against any particulars on any database (public or otherwise) to which they have access.

8.14 We may refuse to open an Account for you for any reason. We are under no obligation to tell you why we have refused your application.

8.15 If you act in connection with or on behalf of someone else, whether or not you identify that person to us, we will not accept that person as an indirect customer of ours and we will not owe any obligation or duty to them unless otherwise specifically agreed in writing. Failure to inform us that another person (other than an Authorised Person) is operating your Account may result in us terminating this Agreement, suspending your Account and/or closing any open Transactions you may have with us. 9. MARGIN AND DEPOSIT REQUIREMENTS

9.1 For each Transaction, we require you to have certain funds (which includes any bonuses and trading credits) available on your trading account, this is known as Margin. Margin protects us against negative price movements, which can result in you having trading losses on your Open Positions and can lead to you owing us money if any of your Open Positions were closed. Margin protects us in case you are not able to pay any money you owe us when Transactions are closed out.

9.2 When you enter into a Transaction, we require you to have sufficient funds (which includes any bonuses and trading credits) available to cover Margin in relation to the Positions to be opened on your trading account. We set the amount of Margin needed for clients, and can alter it for any reason. We apply different margin rates for different sizes of positions, ie: tiered margin. Margin rates for different instruments are available on our Website. 6

9.3 In order to keep a position open, you are required to maintain a minimum amount of money

(which includes any bonuses and trading credits) in your trading account, this is known as the "Margin Requirement".

9.4 You must maintain sufficient funds (which includes any bonuses and trading credits) in your trading account at all times to meet the Margin Requirement on your Open Position(s). The Margin Requirement is 50% of the Margin needed to place the Transactions. 9.5 We may require you to deposit additional funds at short notice to ensure that your Margin Requirement is met to maintain your Open Position(s). This is known as a "Margin Call". We are not obliged to make a Margin Call in any circumstances. If we do not make a Margin Call, we reserve the right but not the obligation, to close Open Positions. If we do not make a Margin Call and allow you to continue to trade or to keep your Open Positions open, you may incur further losses. In these circumstances we will not be responsible for such losses. 9.6 If we make a Margin Call, the only actions you will be able to take on your trading account are:

(a) Depositing or transferring further funds to meet the Margin Requirement; or

(b) either closing Positions or reducing the size of your Positions to reduce the Margin Requirement.

9.7 We may use any money we hold on your behalf, or close out some or all of your Open Positions, in order to meet a Margin Call. Starting with the largest position held on an open market. We will not be responsible for any actions or inaction on our part in relation to a Margin Call where we act in accordance with this Agreement, including where we do not notify you that you are on a Margin Call. It is your responsibility, at all times, to monitor your Open Position(s) and to ensure that you have sufficient funds (which includes any bonuses and trading credits) on your trading account to cover the Margin Requirement. 9.8 We will close out one or more of your Open Positions when you do not have sufficient funds

(which includes any bonuses and trading credits) available on your trading account to cover the Margin Requirement, ie: the available funds fall to below 50% of the Margin needed to open the Positions. Where we do this, we will close your Open Positions at the current market price and this may result in you incurring a loss on the Transaction(s). You will be responsible for any losses you incur as a result.

9.9 Where any loss or profit is in a currency other than your trading account's Base Currency, we will convert such loss or profit into your trading account's Base Currency at our prevailing currency exchange rate at the time that we close out such a Transaction. You acknowledge and agree to bear any exchange rate risk or other market movements that may result from such and/or the exercise by us of our rights under this Agreement. 10. ENTERING INTO TRANSACTIONS ON THE TRADING PLATFORM 10.1 You must access our Trading Platform using your Access Code, which is the password emailed on the successful completion of the Account opening process, or when you requested to change your password, and your account number. 10.2 You may enter into a Transaction at any time during Trading Hours. If you place an Order outside Trading Hours, we may not be able to execute the Order at the specified price if the market is not trading at the price you specified once Trading Hours commence. 10.3 You enter into a new Transaction by opening a new Position or closing all or part of an existing Position.

10.4 For each Position, you will choose whether to buy or sell (this is also known as going "long"

(buy) or "short" (sell)). We quote both a buy and sell price for each instrument. The 7

difference between these prices is known as the spread. The spread we offer can vary at any time and may be different when you open and close a Position. The spread widens and narrows based on changes in the underlying market. This is known as a dynamic spread. 10.5 For each Transaction you enter into, you make us an offer to enter into a Transaction (either to open or to close a Position) at the price available on the Trading Platform when we execute your Transaction.

10.6 The price we quote on the Trading Platform may move rapidly due to changing market conditions. As such, the quote at which you offered to enter into the Transaction may not remain valid by the time we execute the Transaction. You agree that we may still execute your Order at a different price to that quoted on our Trading Platform when you offered to enter into the Transaction. There is no restriction to the extent that you could benefit from such price movement or the extent to which you could suffer from such price movement. 10.7 We are under no obligation to accept your offer to enter into any Transaction. 10.8 You will have opened or closed a Position when we have accepted your offer, and when opening a Position you have sufficient funds (which includes any bonuses and trading credits) on your trading account to cover the Margin needed to open the Position (see paragraph 9). 10.9 You must place all Transactions through the Trading Platform. If any other person (other than an Authorised Person) performs actions in relation to your Account, we may take any action we deem necessary (including to comply with Applicable Law). This may involve terminating the Agreement, suspending your Account and/or closing or reversing Transactions.

10.10 We will not accept any form of written offer to open or close a Transaction, including offers sent by fax, email or text message, or offers made by telephone, unless we have expressly stated in writing via an emergency notification.

10.11 We may establish trading and leverage limits on your Account at our sole discretion, or to comply with Applicable Law, with or without notice. Such limits may include, but are not limited to, limits on the amount of leverage that you may be exposed to on our Products, limits to the number of trading accounts available for trading, limits on the size of any Transaction or series of Transactions which together create a large size Open Position, limits on the size of any Open Positions in your Account(s) and/or the number of Transaction permitted within a set period of time. In dealing with large size Transactions or a series of large size Transactions, we may, in our reasonable discretion, enter into them or close them out at a price or prices that are different from the price or prices quoted on the Trading Platform.

10.12 We may take reasonable corrective action for Invalid Transactions, including, without limitation, the right to reverse or amend:

(a) any Transaction constituting an Invalid Transaction; or

(b) any or all Transactions executed after an Invalid Transaction and prior to our corrective action.

If we do not reverse or amend such Transaction(s), we may credit your Account for the portion of the realised loss, or debit your Account for the portion of the realised profit, in each case attributable to any such Transaction(s). Any Open Positions that, due to such Transaction(s), are either reduced or closed shall remain reduced or closed. It shall be your sole responsibility to monitor the remaining Open Positions in your Account and take any action you deem prudent with respect to such Positions. The fact that we have confirmed any Transaction(s) shall not prevent us from taking such corrective action. 8


11.1 When you make an offer to enter into a Transaction you can either:

(a) open a Transaction at the best available price on the Trading Platform at the time of opening that Transaction, this is called a "Market Order"; or

(b) offer to open a Transaction at a particular target price set by you, this is called a

"Pending Order".

11.2 We may also, from time to time, offer trading features which you can utilise when you place an Order.

11.3 We execute all Transactions at the best price available at the time in accordance with our execution policy.

11.4 When you place an Order with us, you expressly acknowledge and agree that you fully understand all the terms and conditions attached to such Order. Market Order

11.5 When you place a Market Order, the price at which we execute the Transaction may not be the same price which was displayed on the Trading Platform when you submitted the Order, as prices are subject to continual movement. Your offer to open a Market Order may be accepted at a lower or higher price than the price indicated by you in your Market Order. There is no restriction as to the extent that your Market Order could be executed at a beneficial price for you or at a worse price for you. 11.6 If you choose to open a Market Order, your offer will be accepted at the best possible price offered on the Trading Platform at the time you place your Order, in accordance with our execution policy.

Pending Order

11.7 When you specify a target price for a Pending Order, the price at which we execute the Transaction may not be the price you specified when you placed your Order. This may be due to volatile market conditions outside our control. You agree that we may execute a Pending Order at a different price to the price you indicated in your Pending Order. 11.8 There may be occasions when we are unable to execute a Pending Order at the level you specified, despite our reasonable efforts to do so. This could be due to market volatility and factors beyond our reasonable control, such as, but not limited to, liquidity available in the market. For example, an Order may be closed at a worse price than you specified because the market moved too quickly for us to execute sooner. Where this happens, we will close the Transaction at the next best price. This is referred to as slippage. There can be slippage on both opening and closing Orders

11.9 You may cancel a Pending Order at any time prior to its execution without any liability. Trading Features

11.10 We may make available to clients, certain trading features from time to time. The different trading features, will be available on our Website. 9


12.1 When you open and close a Transaction, our spread (on both the open and the close) includes our charges for trading with us. Details of all charges can be found on our Website. 12.2 Transactions may be subject, depending upon the underlying instrument, to a “Financing Charge” or “Financing Credit”, to reflect the cost of funding your position (in relation to the margin utilised). The Financing Cost is calculated on a per position basis and may be a charge or a credit, depending on whether the position is a buy/long position or a sell/short position, and after also taking into consideration the impact of our admin fee. Further information on Financing Costs and funding rates is available on our Website. Financing Costs do not apply to ‘Swap Free’ accounts, further information available on the website.

12.3 When a Transaction is closed out:

(a) you will have to pay the Difference (this is the Difference in price between the opening of a Transaction and the closing of a Transaction, plus or minus any Premium payable), where the Transaction is:

(i) a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or

(ii) a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction; and

(b) you will receive the Difference where the Transaction is:

(i) a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or

(ii) a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.

12.4 We may use (and/or transfer) any funds in your Account to settle your payment obligations under this Agreement.

12.5 Unless we agree otherwise, all sums due under this Agreement are due immediately upon the conclusion of a Transaction.

12.6 You will be liable for all taxes, fees and assessments for any Transaction you complete on the Trading Platform, now or in the future. You will reimburse us if we pay any applicable taxes on your behalf.

12.7 We may charge you for market data or any other ancillary services we make available to you.

12.8 We may deduct from any payments due to you such amounts as are required to be deducted in accordance with Applicable Law.

12.9 If there are no Transactions on your Account for a period of at least 12 months, your Account may be subject to a monthly inactivity fee for each month the Account remains inactive. The levying of an inactivity fee will not result in a negative balance on your Account. Further information on inactivity fees is available on our Website. 10


13.1 All prices shown on the Trading Platform are indicative only, relate to Normal Market Size and are subject to constant change as the market changes. 13.2 You must comply with any reasonable restrictions that we notify you of from time to time with respect to your activities on the Trading Platform, including limitations on, and the size of, Transactions and resultant Positions, or other conditions that may apply to our quote. 13.3 Each Transaction opened or completed by you will be binding upon you even where, for example, in opening the Transaction you may have exceeded any credit and/or other limit applicable to you or in respect of your dealings with us, unless prohibited by Applicable Law. 13.4 We may monitor the status of any Transaction; make Margin Calls or advise you that you are in breach of any Margin Requirements; or close any Transaction that you have opened, but we are not under any obligation, unless required by Applicable Law, to take such action and will not be responsible for any losses you incur as a result of our action or inaction. 13.5 We may provide a quote and accept (and therefore act on) your offer to open or close a Transaction outside of the Trading Hours for an Instrument. Transactions can (and will) only be executed during the time when the relevant Exchange is open for business. It is your responsibility to ensure you are aware of the trading hours for the Instruments you trade in.

13.6 Trading strategies which involve the use of ultra-high speed or mass data entry must not be deployed

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