Terms and Conditions
Client Terms and Conditions
Thank you for opening an iToro account. These Terms and Conditions were last updated and published on May 1 st , 2022 and set out the different services which we may provide to you. We recommend that you print a copy for your records
- About us
1.1 These Terms and Conditions which include the Schedules, any express consents given by you from time to time, and any documents we refer to, including the General Risk Disclosure, Conflicts of Interest Policy, the Best Execution and Order Handling Policy and the Privacy Notice, form the agreement between you, iToro (Stocks) Limited (“iToro Stocks”, “we”, “us”, and “our”), and, where applicable. We refer to all these documents as the “Agreement”. You expressly agree to the terms of the Agreement and we will also treat your access to and use of our Services (our “Services” are explained in clause 2 below) as acceptance of the terms of the Agreement.
2 Our Services:
2.1 We provide a digital trading platform, which can be accessed via a mobile and/or web-based application, where you can: (a) trade contracts for differences (“CFDs”); (b) trade swaps relating to cryptoassets (total return swaps) (“TRS”); (c) invest in securities; (d) trade cryptoassets; we call the above the “Trading Services”; and (e) trade CFDs and TRS, invest in securities, and/or trade cryptoassets, by copying the trades of other customers who trade on the iToro platform, or by copying trades in a portfolio which we have put together, which we call the “Copy Trading Services”.
2.2 We also provide relevant custody services for your trades and copy trades.
2.3 When we say “Services”, we are talking about all of our services as described above, which includes the Trading Services, the Copy Trading Services, the custody services and other related services.
2.4 Some of the terms in the Agreement only apply to certain Services. If you do not use those Services, then those terms will not be a part of your Agreement with us. We will always be clear which terms apply to which Service, but please contact us if anything is unclear.
3. Limitations to our Services
3.1 We do not provide personalised investment recommendations or investment or tax related advice. Any explanation or information which we give to you as part of a trade, or a copy trade, or about the performance of the trade or copy trade is not intended to be, and should not be considered as advice.
3.2 The iToro trading platform is not an exchange or a market. This means that: (a) you can only enter into trades and investments with us on the platform, and not third parties; (b) all trades opened on our platform must be closed on our platform; (c) all products which you purchase on our platform can only be sold on our platform, and not a third party platform; (d) you will generally not be able to transfer products into your iToro account, out of your iToro account or to a third party at any time. However, we reserve the right to permit and support this functionality at our discretion, including, for example, the ability for you to transfer certain products between your iToro account and electronic wallets operate by an iToro Europe affiliate; and (e) our prices will be different from the prices provided by other brokers, the market price, as well as the current prices on any exchanges or trading platforms.
3.3 Therefore, you expressly consent to us executing orders outside of a regulated market, multilateral trading facility, or organised trading facility, in the manner described in these Terms and Conditions, the relevant Schedule, and the Best Execution and Order Handling Policy.
3.4 We may not provide all of our Services to customers domiciled in certain countries due to restrictions under Applicable Law, or restrictions under our internal policies (these are known as “restricted countries”). If you are a resident of a restricted country, you may be able to access some of our Services, but not all of our Services. We may change the list of restricted countries, as well as the Services that are available in a restricted country, from time to time. For further information, please speak to us, our contact details are available in clause 10 – “Communicating with you”.
3.5 We will not accept applications for iToro accounts from residents domiciled in Canada, or residents or citizens of the United States of America, as well as other countries as required by Applicable Law, or required by our internal policies from time to time (these are known as “blocked countries”). We may change the list of blocked countries from time to time. For further information, please speak to us. Our contact details are available in clause 10 – “Communicating with you”.
3.6 Our Services may not be available in a blocked country. If you are travelling to a blocked country, you may not have access to your iToro account or any of our Services. This restriction applies even if you do not normally reside in the blocked country. We are not liable for any loss which results from your inability to access the iToro platform because you are in a blocked country, or if caused by circumstances outside of our control.
4. The key risks of using our Services
4.1 The risk of using our Services, is that you could lose all your money which you have deposited into your iToro account. Therefore you should not trade or invest money that you cannot afford to lose. It is important that you fully understand the risks involved before deciding to trade with us in light of your financial resources, level of experience, and risk appetite. If required, you should seek advice from an independent financial advisor.
4.2 The actual returns and losses experienced by you will vary depending on many factors, including, but not limited to, market behaviour, market movement, and your trade size.
4.3 The value of your investments may go up or down.
4.4 Past performance is not a guide to future performance.
4.5 Your iToro account and our Services are provided in US Dollars. This means that transactions with iToro will carry an inherent foreign exchange risk, unless all the money that you put into and take out of your iToro account is in US Dollars.
4.6 More information on the risks associated with using each of the Services is set out in each Schedule, the General Risk Disclosure, and on our website.
5. How your money is protected
5.1 iToro Europe is covered by the Cyprus Investor Compensation Fund (“Fund”). If we fail, the Fund can return your money up to €2,000,000 or as may be updated from time to time
5.2 Importantly, the Fund protection is only applicable to regulated products. This means that any cryptoasset trades, including cryptoasset copy trades, are not protected, but security trades and security copy trades, and CFD trades and CFD copy trades, as well as TRS trades and TRS copy trades, are protected.
6. How you can make a complaint
6.1 If you are unhappy with a Service or something has gone wrong, please contact us and we will try to put it right. You may contact us directly via: (a) the “Help” section of our platform, where you will also find our complaints procedure; or (b) the customer service section of our website at https://www.itoro-capital.co/customer-service/.
6.3 If you’re still not happy with how we’ve dealt with your complaint, you can refer it to the Financial Ombudsman of the Republic of Cyprus or to the CySEC or to relevant courts. For more information on such alternative solutions, please refer to our complaints handling procedure.
7.1 All amounts extracted from your account are gross amounts, meaning that we have not collected, deducted, or paid any taxes for you or on your behalf. It is your responsibility to calculate and pay all applicable taxes that you owe as a result of your trading activity on the iToro platform. However, we may withhold your funds as iToro not able to deduct at source any taxes due under Applicable Law at our sole discretion. You will have no claim against iToro Europe where we have made such a deduction. Where necessary, we or our affiliates will charge and report tax payments on an aggregate basis with respect to all our clients. To the extent you require us to issue your personal report specifying the taxes withheld at source on your behalf, we may ask you to pay separately with our cost and expenses in connection with the preparation and filing of said reports including any re-submissions and late charges.
7.2 These Terms and Conditions and any orders and trades are subject to all Applicable tax Law and regulation, including (but not limited to)
7.3 We will not be liable to you for any action, inaction, decision or ruling made pursuant to Applicable Law
8.1We are not responsible for any delay in the settlement of a transaction resulting from circumstances beyond our control, or the failure of any other person or party (including you) to perform all necessary steps to enable completion on the settlement date.
8.2 We may refuse to allow a withdrawal on any account that you have with us if it would leave insufficient funds in the account to pay for any unsettled transactions.
8.3 Where you make payment into your account and then make a withdrawal shortly afterwards, we reserve the right to delay settlement for up to eight business days to ensure your payment has cleared.
8.4 Additional charges may also be incurred by you in the case of the delayed or failed settlement of a transaction(Tax, Fee, commission ETC…). Any such amounts will be your responsibility and, where appropriate, will be not able to deducted from your account.
8.5 no withdraw in the starting 21 working days from opening the account as the company need time to make the necessary arrangements and registration before this can happen.
8.6 all the above depends on The information you provide to us must be complete, anti-money laundering regulations and any other similar regulations applicable to us (“AML”), as well as for anti-fraud measures or any other related internal procedures), or clarifications to information and/or documents which you have provided to us.
8.7. If you do not provide us with the required information, or if you provide inaccurate, incomplete or misleading information, we will not be able to open an eToro account for you, or, if you already have an eToro account, we may freeze, block, or close your eToro account.
PART 2 – HOW OUR SERVICES OPERATE
11.1 We will classify you as a retail client for the purposes of the Services. Retail clients are given the highest level of protection under Applicable Law.
11.2 You may request that we re-categorise you as a different type of client, but we would not be obliged to do this. If you are re-classified as a professional client, you may lose certain protections. In these circumstances, we will provide you with a Client Categorisation Notice, setting out the regulatory protections that you will keep, as well as those that you will lose. If a term of the Client Categorisation Notice conflicts with, or is different to, a term in this Agreement, the Client Categorisation Notice will apply.12. How to open, and maintain your iToro account12.1 To apply for an iToro account, you will need to complete an online application form and provide us with information that we request, so that we can identify you, verify your identity, and conduct fraud checks, sanctions checks, anti-money laundering and counter-terrorism checks, and any other checks as required by Applicable Law, including without limitation, the Foreign Account Tax Compliance Act (“FATCA”), as required by our internal procedures. This means we will require you to provide us with personally identifiable information, the countries where you are a tax resident, confirmation of whether or not you are a US citizen or whether or not your place of birth is in the US or any other information which will be required under Applicable Law. 12.2 You will also need to provide us with information so we can assess whether the Trading Services are appropriate for you, and assess whether the Copy Trading Services are suitable for you. Please refer to clause 3 – “Regulatory status of our Services” for more information about the Appropriateness Assessments and the Suitability Assessments.
12.3 If you are applying for an iToro account on behalf of a business, you must have the authority to enter into agreements, including this Agreement, on behalf of that business.
12.4 If you have more than one iToro account, we may combine your iToro accounts into one. We may also place limits on the number of iToro accounts which you may hold, as well as the number of iToro accounts which one household may hold.
12.5 iToro Europe is a wholly owned subsidiary of iToro Group Limited, which is an unregulated company in the British Virgin Islands. If you open an iToro account but have not put money into the account or you are trading using a ‘demo account’, you will be a customer of iToro Group Limited. This means that you will not benefit from the protections available to clients of iToro Europe, which is a regulated entity, until the point in time when you fund your account.
12.6 In order to put money into your iToro account, you will need to link your iToro account to a current account, debit card, credit card, electronic wallet or other means of payment, which is approved by us. We call this your payment method. We may allow you to link more than one payment method, but we are not required to do so. We may accept different payment methods in different countries.
12.7 The payment method must belong to you, and must be in your name. We do not accept money from people who are not you. We may require you to provide us with documents to verify the details, and the ownership of your payment method. If we cannot verify the details of your payment method, or if we cannot verify that the payment method belongs to you, you will not be able to deposit money into your iToro account, and therefore will not be able to use our Services.
12.8 We may process your deposits and withdrawals, and reserve the right to use electronic wallets and payment processing accounts operated by an iToro Europe affiliate. To the extent permitted by Applicable Law, if you withdraw funds from your iToro account to another account operated by an iToro Group entity, including an electronic wallet (crypto, fiat or any other wallet), we may instruct the iToro Group entity to reverse the withdrawal (and return the money to the original account where it will be subject to these Terms and Conditions, including any set-off right), freeze, or block the relevant withdrawal(s) to the extent that we have indications that you have breached this Terms and Conditions, including any rules of trading (we explain our rules of trading in clause 23 – “Rules of trading”) in our sole discretion.12.9 We may, from time to time, require additional information and/or documents (including as required by anti-money laundering regulations and any other similar regulations applicable to us (“AML”), as well as for anti-fraud measures or any other related internal procedures), or clarifications to information and/or documents which you have provided to us.
12.10 If any information which you have provided to us under this clause 12 – “How to open, and maintain your iToro account” changes, you should tell us, in writing, as soon as possible, and no later than 30 days after the change takes place.
12.11 The information you provide to us must be complete, accurate and not misleading. If you do not provide us with the required information, or if you provide inaccurate, incomplete or misleading information, we will not be able to open an iToro account for you, or, if you already have an iToro account, we may freeze, block, or close your iToro account.13. Keeping your iToro account safe
13.1 If we accept your application, we will open an iToro account for you. You will need to choose a username and a password to access your iToro account and we may also require other security details.
13.2 It is your responsibility to take all reasonable steps to keep your iToro account safe. For example, you should keep your security details, such as your username and password, a secret. You should select a password that it is not easy to guess (such as using a combination of uppercase and lowercase letters, numbers and symbols) and is a unique password for your iToro account. We recommend that you do not re-use a password previously used by you for other platforms/services. You should also apply twofactor authentication to your account to keep your account secure.
13.3 You will need to change your security details immediately and contact us as soon as possible if you think someone else knows them.
13.4 We may block access to your iToro account or block access to our Services if we believe that it is necessary for security or legal reasons. For example, if we think someone may have access to or is using your iToro account without your permission.14. How to pay money into, and take money out of, your iToro account
Paying money in (also called “deposits”)
14.1 You can pay money into your iToro account by using one of your payment methods (which we referred to in clause 12 – “How to open, and maintain your iToro account”). We do not accept cash or cheques.
14.2 If your payment method charges us a fee, for example, a payment transfer or a payment processing fee or currency conversion, we may charge you a “transfer fee”. Our transfer fees are set out on our
14.3 Your money will show in your iToro account as soon as we are satisfied that it comes from you.
14.4 We may place a limit on how much money you can pay into your iToro account. We will let you know in advance if we do this.
14.5 We may return any money which comes in from a payment method that is not in your name. If we are charged fees for returning your money, we will deduct an amount equal to that fee from the money which we are returning.
Taking money out (also called “withdrawals”)
14.6 You can take money out of your iToro account by sending it back to the payment method that it came in from, subject to any Applicable Law and any regulatory restrictions that may apply (including AML restrictions), which may prevent us from sending it to such payment method.. We may permit you to withdraw money to an alternative payment method also in your name, but only after we are satisfied that the alternative payment method belongs to you and is approved by us (subject to any Applicable Law and regulatory restrictions, including AML restrictions).
14.7 You may not be able to take money out of your iToro account if it would leave insufficient funds in your iToro account to pay for any unsettled transactions and/or applicable fees or charges.
14.8 To protect your money against fraud, we may put a limit on how much can be taken out of your iToro account. The minimum amount per withdrawal is set out on our website. However, if you are closing your iToro account in accordance with clause 26 – “Closing or blocking access to your iToro account”, this restriction will not apply.
14.9 We may charge you a fee each time you take money out. Our fees are available on our website
14.10 We will process a valid and complete withdrawal request by the end of the following business day. Our processing may be delayed or declined if required under Applicable Law, including if we have an AML concern. We may, or may not be able to, disclose to you the reasons for such delay or rejection. Please note that once your withdrawal request has been processed it might take a few days for your payment processor to update the balance in your account, depending on your payment processor’s policy and procedures.
14.11 If you take money out of your iToro account after 11.00 am Eastern European Time, or on a nonbusiness day, we may not process your withdrawal request until the next business day. When we say business day, we mean Monday to Friday, but not a public or a bank holiday.
15. How we treat your money
15.1 Subject to clause 16 – “When your money stops being client money”, money that you put into your iToro account will be treated as “client money” in accordance with the CySEC rules.
15.2 The Services include trading in cryptoassets. Cryptoassets are not regulated products and therefore any money held in relation to a cryptoasset trade or copy trade will not be subject to the CySEC rules, unless otherwise stated. However, we will endeavour to protect your money in accordance with best market practice. Furthermore, while TRS (which are only available to clients domiciled in certain jurisdictions) are regulated products, the purchase price you pay us for a TRS is due and payable to us as the sale price of the product and therefore any money you pay us or which we deduct from your account in relation to the purchase price for a TRS trade or TRS copy trade will not be held as client money under the CySEC rules, unless otherwise stated.
15.3 Under the CySEC rules, we will separate client money from our own money by putting it into a separate bank account with a reputable bank. This is called a “client money account”. We are permitted by the CySEC rules to hold your client money, and other clients’ client money, together in the same client money account, this is called an “Omnibus Account”.
15.4 We may hold client money in bank accounts in the European Economic Area (“EEA”). We may also hold client money in bank accounts in a different country outside the EEA. This means that different rules, regulations and laws may apply to these banks, which means that in the event of an insolvency, money in a client money account held with that bank may be treated differently to money held with an EEA Bank.
15.5 We are not responsible for the insolvency, acts or omissions of any bank, although we will take reasonable care when choosing which bank to open a client money account with.
15.6 Unless we separately agree to do so with you, we will not pay you interest on any client money we hold, and if interest is accumulated on such funds, it shall not be deemed part of the clients’ funds and shall not be credited to your account.
15.7 In the event of the insolvency or any other analogous proceedings in relation to a third party which has been appointed to hold your client money, we will only have an unsecured claim against the party on behalf of you and our other clients. This means that you will be exposed to the risk that the money received by us from such party is insufficient to satisfy the claims of you and all other clients with claims in respect of the relevant account.
Putting your money into a qualifying money market fund
15.9 Rather than holding your money in a client money account, we may put your money into units or stokes in a qualifying money market fund. Your money will therefore not be held as client money in accordance with the applicable CySEC rules on safeguarding client funds, but the units or stokes will be held as safe custody assets in accordance with applicable CySEC rules on safe custody. Under the CySEC rules, we will separate the units or stokes in the qualifying money market fund from our own.
15.10 We will not pay you any interest earned on the units or stokes in the qualifying money market fund.
15.11 Investments in qualifying money market funds are considered low risk. However, if the qualifying money market fund fails, which causes you to lose money, we may pay you back that money, although we are not required by Applicable Law to do this.
15.12 You expressly consent to us putting your money into a qualifying money market fund. Your agreement is a necessary condition for us to provide you with our Services. If you do not agree, or change your mind, please let us know in writing and we will help you close your iToro account.
- Fees and costs
16.1 We will charge you a fee for each order we execute for you. This is called a “spread”. A spread is the difference in the sell and the buy price. The spread is different for each type of product and Service and can be found on our website. We will estimate the total amount of spread that applies each time you place an order. We cannot provide you with an exact amount because the spread may change between the time you make an order, and the time we execute your order.
16.2 The spreads which we charge can change due to market conditions. For example, there may be instances when market conditions cause spreads to widen beyond the typical spreads displayed on our website and/or platform.17. Recording your communication with us
You agree that we may record any telephone, email and chat conversations with you, as well as any other forms of communications, activities, and transactions, between you and us, and that the recordings may be used as evidence in any proceedings relating to our Agreement with you, any order you place, and/or trades executed. These records will be our sole property
Trading CFDs in relation to Cryptoassets
- The cryptoasset CFD trading service
1.1 Our services may allow you to trade CFDs in relation to cryptoassets using leverage which is subject to the terms of Schedule A and this Appendix 1. Our services may also allow you to trade cryptoassets using leverage which is subject to the terms of Schedule D instead.
1.2 If the transaction you enter into is a CFD in relation to cryptoassets, this will be specified on the transaction platform and/or your account statement.
2. The key risks of trading cryptoasset CFDs
2.1 In addition to the key risks of trading CFDs as set out in paragraph 4 of Schedule A, the below key risks apply in relation to trading cryptoassets CFDs. 2.2 As stated in paragraph 4 of Schedule A, CFDs are complex derivative products and come with a high risk of losing money quickly due to leverage (regardless of the underlying product). Cryptoassets are volatile products, which means the prices of the products can change rapidly, and are therefore unpredictable. The price fluctuation of cryptoassets, in combination with the use of leverage, means that your trades in cryptoasset CFDs may significantly increase or decrease in value at any given moment, and this may result in a loss of all the capital you have invested in such cryptoasset CFD transaction. Therefore, cryptoasset CFDs come with an even higher risk of losing money.
2.3 As stated at paragraph 4 of Schedule A, you should only trade CFDs if you have sufficient time to manage your transactions on an active basis. This is even more important when trading cryptoasset CFDs, due to the volatility of the underlying cryptoassets, in combination with the use of leverage. If the market moves against your position, you may be called upon by us to provide a substantial amount of additional margin funds, without notice or on very short notice, in order to maintain your position. If you do not provide the required funds within the time required by us, your position may be liquidated at a loss.
2.4 Other important risks when trading cryptoassets CFDs are:
- particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any cryptoassets, the actual market rate at which a market order or trade for a cryptoasset CFD is executed may be different from the prevailing rate indicated via the CFD trading services at the time of your order or trade;
- the actual market rate at which a market order or trade for a cryptoasset CFD is executed may be different from the rate that is displayed on the iToro platform at the time that you make your order, if prices are fluctuating substantially;
- cryptoassets are a unique kind of product, backed by technology and trust, unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver. This means there is no central bank that can take corrective measure to protect the value of cryptoassets, and therefore the value of cryptoasset CFDs;
- Classification of trade
3.1 The copy trade service may result in trades in a number of financial instruments. Each trade opened on your behalf as part as the CopyTrader or CopyPortfolio functionalities will usually be classified under the same asset class as classified in the copied account.
3.2 If you are restricted from trading a certain asset class or specific product due to Applicable Law, other regulatory requirements or any other reason at iToro’s sole discretion, then we may take reasonable steps, where permitted by Applicable Law and where our service enables this at our sole discretion, to ensure that an equivalent or similar trade is opened in your account to replace the restricted trade (for example, replacing a CFD trade with a trade in the underlying product or vice versa). If we replace a trade for you, we cannot guarantee that the risk rating and economic performance of the replacement trade will match that of the restricted trade. Where in our sole discretion we do not replace a trade with an equivalent or similar trade for any reason your economic performance, portfolio composition, risk rating and other factors relating to your portfolio may deviate from that of the iToro trader or CopyPortfolio being copied
- Regulatory status of the copy trading service and suitability assessment
4.1 Our copy trading functionality may amount to a form of discretionary investment management. This means that, before you can engage in copy trading, we are required by law to assess whether copy trading is a suitable investment tool for you and under what conditions (the “Suitability Assessment”). The result of the Suitability Assessment is determined by information and documents provided to us by you, which you can update at any time.
4.2 We will establish your investment profile on the basis of your Suitability Assessment, and your ability to enter into copy trades may be limited by your Suitability Assessment. If we determine that copy trading is not a suitable investment tool for you, then you will not be permitted to access the copy trading functionalities of the iToro platform. We are not liable for any losses that you suffer as a result of providing false or misleading information as part of your Suitability Assessment, including where this leads to us creating an inaccurate investment profile for you.
- Limitations to our copy trading service
5.1 We do not provide personalised investment recommendations, investment advice, tax related advice or other financial related advice of any kind. Any explanation or information which we give to you as part of a copy trade, or about the performance of the copy trade is not intended to be, and should not be considered as advice. This information is provided by us solely for informational purposes.
5.2 You should use any information gathered from our website or social trading features as a starting point for your own independent research and investment decision making. However, you should not make investment decisions based on information provided on the iToro platform or iToro Community.
5.3 We will take reasonable steps to monitor the performance of any copied trader under the CopyTrader functionality, as well as the performance of the different trading strategies and portfolios under the CopyPortfolio functionality. We reserve the right to pause, stop, or block:
(a) any iToro trader from being copied under the CopyTrader functionality; and
(b) any portfolio of trading strategy from being copied under the CopyPortfolio functionality.
- The key risks of copy trading
6.1 In making a decision to copy a specific trader or traders, strategy and/or portfolio, you should consider your financial situation, including your financial commitments. You should understand that copy trading is highly speculative and that you could sustain significant losses exceeding the amount used to copy a trader or traders as a result of the following:
(a) it will involve automated trading execution whereby trades are opened and closed in your account without your manual intervention;
(b) if you manually modify or close an order generated by the CopyTrader functionality, you may achieve a materially different result than the trader that you copied;
(c) copied trades in amounts lower than the minimum trade will not be opened;
(d) if you are copying all trades which are currently open, we will open your position at the best available price at the time of copying and not the price at the time which the trade being copied was originally opened; 69
(e) cash-out and withdrawals by the copied trader, strategy and/or portfolio when you are using the CopyTrader/CopyPortfolio functionality may also generate a materially different result than the trader that you copied as it may affect the copy trading proportions. This is due to a number of different factors including starting account balance, minimum trade size, the investor’s account settings, differences in spread, interest and investment price at time of investment, and also the difference in fees that may be incurred;
(f) following/copying the trading decisions of inexperienced and/or unprofessional traders;
(g) following/copying traders whose ultimate purpose or intention, or financial status may differ from yours; and/or
(h) following and/or copying traders who trade, or CopyPortfolios which include, products restricted as a result of Applicable Law in relation to your account and where a replacement equivalent trade cannot be executed may result in the economic performance, portfolio composition, risk rating and other factors relating to your portfolio deviating from the portfolio of the copied trader or the CopyPortfolio.
6.2 We are unable to provide any guarantee as to the performance of any particular investment, account, portfolio or strategy. Please refer to the Schedule which applies to the underlying product that you are copying for more information on the risks associated with trading that product.
6.3 Past performance, risk scores, statistics and any other information with respect to iToro traders under our CopyTrader and/or CopyPortfolio functionality, or of different portfolios and trading strategies under our CopyPortfolio functionality are not reliable indicators of future performance. We do not represent or guarantee that you will achieve profits or losses similar to those shown on the iToro trader or portfolio that you are copying. We also do not represent or guarantee that the risk score of a trader will accurately reflect the risk of their future performances.
- Conflicts of interest
7.1 We are required to act in your best interest when providing our services. However, there may be instances where your interest conflicts with our interests, or with another client’s interest. For example, with respect to copy trading, we may compensate popular iToro traders who you and/or others have elected to follow and/or copy.
- Placing an order
8.1 Before you enter into the copy trade, you will need to allocate the amount of money you would like to put towards that copy trade. Such amount shall be allocated in transactions at the same proportion as it is allocated in the copied account. We will then automatically execute that order for you, which means we will not obtain your confirmation before we do this. The opening of such transactions shall not require any prior consultation, consent or approval. Trades below the minimum trade amount shall not be opened.
8.2 There are a number of order restrictions when copy trading, including on the minimum and maximum amount that can be invested in any iToro trader or portfolio that you copy, the minimum amount on any single copy trade, and the maximum number of traders that you can copy. The full restrictions are listed on our website.
9. Fees and costs
9.1 When you place a copy trade, we will charge you fees on the same basis as those charged to the copied account for the same trades. Please refer to the Schedule which applies to the underlying product that you are copying for more information on the fees and costs associated with that copy trade.
- Our rights and your rights in special circumstances
Please refer to the Schedule which applies to the underlying product that you are copying for more information on our rights and your rights in special circumstances, as well as Part 3 of the General Terms and Conditions.
Subject to Applicable Law, neither iToro Europe nor any affiliates or associate third parties will be liable for any losses arising from:
(a) actions taken by us in order to carry out your written or spoken instructions;
(b) decisions or actions taken by an iToro trader that you have chosen to copy, including in connection with Portfolios; and/or
(c) specific investment decisions or actions taken or omitted in good faith by any copied account strategy or portfolio, including portfolios controlled by us.