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Caya's Forex Power Strategy is a proven method for today's markets.

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Whether you want to start trading now or just need more information, register using the form to the right. And remember, there's Free Registration for New Traders.

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FIRST NAME This field must be correct LAST NAME This field must be correct EMAIL This field must be correct PHONE NUMBER This field must be correct -

By submitting, I certify that I am a citizen over the
age of 18, and I agree to the Terms of Use.

CAYA CAPITAL MARKETS NZ LTD
Terms, Conditions and Disclaimers

Kindly, read this agreement "Terms and Conditions" carefully. By accessing this site and/or any pages thereof, you agree to be bound by the terms and conditions below. If you do not agree to the terms and conditions below, please, do not access this site, and/or any pages thereof.

READING AND ACCEPTING THE TERMS OF USE AND READING AND ACCEPTING THE PROVISIONS OF THE PRIVACY POLICY OF THIS WEBSITE ARE REQUIRED CONSIDERATIONS FOR THE WEBSITE GRANTING YOU THE RIGHT TO VISIT, READ OR INTERACT WITH IT.

All transactions and all Contracts entered into between CAYA CAPITAL MARKETS NZ LIMITED and the Customer shall be governed by the terms of this Agreement except to the extent (if any) that CAYA CAPITAL MARKETS NZ LIMITED shall agree or notify the Customer in writing that other or additional terms apply. The Customer understands and recognizes that the transactions in Foreign Exchange to be conducted pursuant to this Agreement are not conducted on a regulated market or exchange. Bearing this in mind, the Customer represents that it is aware of the risks inherent in the trading of OTC Foreign Exchange and is financially able to bear such risks and withstand any losses incurred.

PARTIES TO THE TERMS OF USE AGREEMENT

Visitors, viewers, users, subscribers, members, affiliates, or customers, are parties to this agreement. The website and its owners and/or operators are parties to this agreement, herein referred to as "Website."

Whereas;

Caya Capital Markets NZ Limited allows its Customers to use its trading platform, including the online service via the internet and/or mobile phone, for the execution of transactions in the FOREX market (exchange rates of foreign currencies), FOREX derivatives and various financial assets such as CFD's, Options, Futures and Stocks, in an account that the Customer shall open with Caya Capital Markets NZ Limited (hereinafter: "the Transactions");

And whereas;

The Customer wishes to open an account with Caya Capital Markets NZ Limited in order to use the said system and to enter into transactions with Caya Capital Markets NZ Limited as follows;

It is agreed by the parties as follows:

Section 1 - General

The term "this Agreement" refers to all the attachments that constitute an integral part of this agreement as well as any other attachment that will be defined by Caya Capital Markets NZ Limited. Those attachments will be corrected by Caya Capital Markets NZ Limited from time to time.

Section 2 - Opening of Account

The Customer gives his/her authorization to Caya Capital Markets NZ Limited to open an account/several accounts on his/her behalf for the purpose of executing trades with Caya Capital Markets NZ Limited. The Customer declares, and undertakes that, he/she/she shall operate the account on his/her/her own behalf only, and not for another person or any other legal entity, and that any sum of money that will be funded to his/her account from time to time belongs to him/her only and that he/she will execute trades at his/her account according to the law.

The company is required by the regulatory body to obtain from the Customer, within 7 business days, a copy of identification (passport, state ID card or valid driver's license) and proof of his/her address (utility bill or official letter from the governing state with his/her address on it). Failure to provide those documents, that are essential for security and to prevent fraud, will result in closing the account within 7 days.

Section 3 - Appointing an Agent

The Customer may notify Caya Capital Markets NZ Limited, by written notice, of appointing an authorized person on his/her behalf (hereinafter: "Agent"), to make entry orders in his/her account with Caya Capital Markets NZ Limited. Should the Customer wish to cancel the appointment, he/she shall give notice of this to Caya Capital Markets NZ Limited in writing, and shall receive from it a confirmation of receiving the notice and of the cancellation of the power of attorney. No Cancellation will be valid unless approved in writing by Caya Capital Markets NZ Limited.

For the purposes of this agreement, "Customer" is an individual or a number of individuals that signed this agreement together or separately.

Section 4 - Operating the Account

a.  The method for executing the Transactions shall be by Customer's request to execute a transaction and providing a price quote and terms by Caya Capital Markets NZ Limited to the Customer for the execution of the Transaction. The Customer may do so through Caya Capital Markets NZ Limited pursuant to the procedures detailed in the appendix to this Agreement, which constitutes an inseparable part thereof.

b.   Currency conversions of transferred funds will be done using the current spot rate plus/minus certain percentage when the amount is credited or debited from your account.

c.  Currency conversions of profits and losses from trading activities are done using the prevailing close rate at New York (5pm New York time) plus/minus certain percentage.

d.  The Customer may, subsequent to Customer's written application to Caya Capital Markets NZ Limited, at least 7 business days in advance, withdraw any amount, or a portion thereof, which is in his/her credit in the Customer account with Caya Capital Markets NZ Limited, and which does not actually serve as collateral for an existing transaction, as may be specified by Caya Capital Markets NZ Limited from time to time. In case of withdrawing the entire amount, the notice shall also include a notice whether the Customer is interested in closing the account. However, If the Customer is consisted of more than one person, then any withdrawal of funds will be executed after authorization and signature of all the individuals that are identified as the Customer.

e.  A bank transfer and/or transfer via credit card and/or other, from Caya Capital Markets NZ Limited to the Customer, shall be executed subject to the law applicable to said transfer, provided that all Customer's identification details have been attached as required by Caya Capital Markets NZ Limited and provided that the Customer bears the cost of said transfer, and provided that there is full compatibility between deposit details and withdrawal details.

Section 5 - Website

a.  Insomuch as the Customer shall make use of Caya Capital Markets NZ Limited's internet site (at www.Caya.com and/or via other sites or links that Caya Capital Markets NZ Limited shall decide from time to time and/or via other sites or links that Caya Capital Markets NZ Limited shall decide from time to time), the terms of use of the site (including updates to this Agreement), as they appear on the site, and formulated in writing, shall be binding to the parties as an integral part of this Agreement and the Customer is responsible to keep him/herself updated as to the terms and/the updates to this agreement that appear on the sites.

b.   Any change to this Agreement, or to any of its terms, shall be entered in writing and shall be signed by all parties thereto except for the changes as said in article 5.a. Despite the aforesaid, it is agreed that Caya Capital Markets NZ Limited would have the permission to change this agreement by sending a notification to the Customer via the electronic mail address that was given to Caya Capital Markets NZ Limited by the Customer. It is agreed that if the Customer would not answer this message within seven days from the day the message was sent it would be considered as if he/she agrees to the change aforesaid. This will oblige the sides to any matter, unless the Customer would be able to prove that the message was not accepted by him/her.

c.  If the Customer is more than a single entity, each of the Customer's individuals shall be responsible, jointly and separately, to the Customer's undertakings.

d.  This Agreement shall apply to any transaction that the Customer shall enter into via Caya Capital Markets NZ Limited, including with respect to any transaction entered into by the Customer through services via the internet, and/or telephone and /or any other service provided by Caya Capital Markets NZ Limited, and/or by any other person or entity, (at www.Caya.com, and/or through other sites or links that Caya Capital Markets NZ Limited shall decide from time to time) or trade via mobile phone or other mobile device that Caya Capital Markets NZ Limited shall provide by itself, through the Caya Capital Markets NZ Limited Company, and/or through any other person or body, at www.Caya.com and/or via other sites or links that Caya Capital Markets NZ Limited shall decide from time to time.

Section 6 - Customer Responsibilities

a.  The Customer declares that he/she is aware of the fact that Caya Capital Markets NZ Limited operates as a WLP (White Label Partner) and it is not, in any way, a principal, agent, trustee, mediator and any other functionary of or for the Customer. Therefore, the Customer has and shall not have any contention or claim against Caya Capital Markets NZ Limited and/or any party on its behalf with respect to this Agreement or the Transactions executed thereby.

b.  The Customer is responsible for all tax matters of any type for his/her transactions under this Agreement, if any such exist.

Section 7 - Amendments to the Agreements

Any modifications to this Agreement shall not be binding upon the parties unless they were done in writing and signed by all parties to this Agreement as shown below.

Transaction Procedures with Caya Capital Markets NZ Limited

A1 - Section 1

a.   Before executing a transaction, or entering a change in the terms of an existing transaction, the Customer shall deposit an amount not less than the amount sufficient for covering potential losses of the Customer in the transaction, according to what is required by the type of the transaction (Forex Spots, Forex Forwards, Forex Options, CFDs,Futures, Stocks shares and/or other financial instruments that are offered now or might be offered in the future by Caya Capital Markets NZ Limited) as detailed in the trading terms and/or the internet site of Caya Capital Markets NZ Limited attached as part of the trading system (hereinafter - "the Collateral"). However, Caya Capital Markets NZ Limited may specify collateral in a different amount for certain transactions, under Caya Capital Markets NZ Limited procedures and/or change it according to its considerations of the requirements for the minimal collateral. The collateral shall be deposited in Caya Capital Markets NZ Limited account.

b.   It is made clear that depositing the collateral is a condition for the execution of the transaction.

c.   At the time when a profit is generated for the Customer by the execution of a transaction, or when the Customer is entitled to any other credit from Caya Capital Markets NZ Limited, the profit or credit shall be added to the collateral and shall be deemed part of it.

d.   In any transaction between the Customer and Caya Capital Markets NZ Limited, no transfer of money or assets shall be made, except for payments paid by the parties to a transaction for profits or losses from the transactions.

e.   If a loss is created by the Customer from the execution of a transaction, or if the Customer is charged with a commission or any other deduction, the Customer's loss from the transaction shall be deducted from the collateral, as well as any such charge and commission, and shall be transferred to Caya Capital Markets NZ Limited.

f.   Caya Capital Markets NZ Limited shall not pay the Customer any interest on the collateral and on any credit balance or asset in the Customer account with Caya Capital Markets NZ Limited.

g.   The Customer agrees that Caya Capital Markets NZ Limited is authorized to deposit Customer's money that is deposited with it, in a banking corporation, or in any other financial institution, and it may use these monies as collateral for Caya Capital Markets NZ Limited activities.

h.   In a situation where any indication is present to the existence of prices in the markets, whereby the Customer's foreseeable losses in a transaction reflect a balance in the account, from the overall value of Customer's account (the collateral plus revaluation of the profit or minus the losses from his/her transactions), which is equal in percent to the stop out point, according to the details in the site and/or to the type of account as shall be defined by Caya Capital Markets NZ Limited from time to time, Caya Capital Markets NZ Limited may then, but will not be obliged to, close all Customer's transactions, or part of them, without providing advance notice, and the Customer shall not have any claim against Caya Capital Markets NZ Limited for this.

i.   Notwithstanding the above-mentioned, in the event that as a result of the exchange rates prevailing in the relevant markets, or for any other reason, it was not possible to execute transactions as mentioned in article 1(i) above, and a negative balance was created in the Customer's account with Caya Capital Markets NZ Limited, the Customer shall also be responsible to return to Caya Capital Markets NZ Limited any amount exceeding the collateral, for the purpose of covering the negative balance created in his/her account.

A1 - Section 2

The Customer shall pay Caya Capital Markets NZ Limited on demand:

a.   Such sums of money by way of deposits, or as initial or variation margin as Caya Capital Markets NZ Limited may require. In a case of a contract affected by Caya Capital Markets NZ Limited on an exchange, such margin shall not be less than the amount or percentage stipulated by the relevant exchanges plus any additional margin that Caya Capital Markets NZ Limited at its reasonable discretion may require.

b.   Such sums of money as may from time to time be due to Caya Capital Markets NZ Limited under a contract and such sums as may be required in or toward clearance of any debit balance or any account;

and

c.   Such sums of money as Caya Capital Markets NZ Limited may from time to time to require as security for the Customer's obligation to Caya Capital Markets NZ Limited.

d.   Any amount to maintain a positive cash balance on any and all of the Customer's accounts .Caya Capital Markets NZ Limited will be authorized to balance the Customer's accounts using funds from his/her other accounts at Caya Capital Markets NZ Limited. The Customer will bear the commissions and any other expenses that this balance involves.

For the purposes of this Agreement:

"Closing a transaction" - shall be the execution of a reverse transaction (the sale of a financial asset that had been purchased, and vice versa) in the amount or quantity equal to the amount or quantity in the opening transaction for the same value date.

"Value date" - a day on which the banks in a banking system of the country of the currency being traded are open for banking services. "Person" and in plural "People" - any person and/or corporation and/or factor having a legal personality, including any artificial legal personality.

"Interest Gap" a gap created between the interest accumulated for the benefit of the Customer on the currency that the Customer has undertaken to purchase or to sell, and the interest accumulated against the Customer for the assets that the Customer had undertaken to sell or to purchase. The interest gap shall be calculated by the bank

"Transaction Rollover" - closing a transaction at the end of a business day at the exchange rate by which the transaction was purchased on the same business day and opening a new transaction at the same exchange rate with an addition or deduction in the transaction exchange rate, of which the monetary value shall be equal to the interest gap.

a.   All the transactions shall be closed by the Customer up to the end of the trading day. A Customer who does not close his/her transactions as mentioned above, Caya Capital Markets NZ Limited shall automatically execute a transaction rollover using the trading system.

b.   Subject to the provision of article 1, Caya Capital Markets NZ Limited may, at its sole discretion, close a transaction of the Customer, if the loss from the transaction is equal to the collateral allocated to the transaction, without requiring notice to the Customer.

c.   Subject to the provisions of this Agreement, Caya Capital Markets NZ Limited shall honor any order by the Customer for closing a transaction and/or opening of trade on a basis of "Best Efforts".

d.   The Customer may execute a stop loss transaction, i.e. a counter-transaction to an existing transaction that is at a loss in light of the exchange rates in the market at that time.

A1 - Section 3 - Orders

a.   The provision of orders by the Customer and the management of a trade by Caya Capital Markets NZ Limited shall be in accordance with what is customary in financial markets.

b.   Orders may be placed as market orders to buy or sell an instrument as soon as possible at the price obtainable in the market, or limit and stop orders to trade when the price reaches a predefined level, as applicable to the various instruments offered.

c.   Limit orders to buy and stop orders to sell must be placed below the current market price, and limit orders to sell and stop orders to buy must be placed above the current market price. If the bid price for sell orders or ask price for buy orders is reached, the order will be filled as soon as possible at the price obtainable in the market. Limit and stop orders are thus not guaranteed executable at the specified level or amount, unless explicitly stated by Caya Capital Markets NZ Limited for the specific order.

A1 - Section 4 - Telephone Orders

a.   The Customer may provide orders via telephone and/or the trading platform pursuant to the Caya Capital Markets NZ Limited procedures. The Customer is aware that orders provided by telephone and/or the trading platform involve certain risks, including the risk that there may be some situations where the Customer's orders are not properly understood, and the Customer assumes all risks entailed by this method of operation, and discharges Caya Capital Markets NZ Limited and/or any party on its behalf of any liability to any direct or indirect damage that may be caused to the Customer, by the provision of phone orders from the Customer to Caya Capital Markets NZ Limited. Caya Capital Markets NZ Limited and/ or any party on its behalf, may record the phone conversations with the Customer without advance notice to the Customer. Caya Capital Markets NZ Limited and/or any party on its behalf bear no duty to perform or to maintain such recording, but such recording, if existent, shall be used in the resolution of disputes between the parties.

A1 - Section 5 - System Risks

a.   All transactions shall be executed in the Customer's account and any outcome of these accounts shall be under the sole responsibility of the Customer.

b.   Caya Capital Markets NZ Limited shall not bear any liability and the Customer waives any contention and right towards Caya Capital Markets NZ Limited, with respect to any damage caused to the Customer as a direct or indirect outcome of this Agreement and from the execution of transactions.

c.   Caya Capital Markets NZ Limited shall not bear any liability and the Customer irrevocably waives any contention or claim or right towards Caya Capital Markets NZ Limited, with respect to the use of the trading system via internet and/or mobile phone and/or other, with respect to the damage caused, inter alia, by force majeure or any external event that is uncontrollable by Caya Capital Markets NZ Limited and/or by any party on its behalf, impacting trade, including a delay in communication, internet failure, computer breakdown or any other technical malfunction, whether at the various telephone and communication companies, or in the computers of the various internet service providers, in the computers of Caya Capital Markets NZ Limited or any party on its behalf or the in Customer's computers. The Customer declares that the stipulation of this article arises from the fact that the execution of trade via the internet is exposed to technical failures that are unforeseeable, and he/she understands and agrees to the risks related thereto.

d.   The Customer agrees that in any case, the limit of Caya Capital Markets NZ Limited's liability towards the Customer shall never be more than the amount of collateral deposited by the Customer for the purpose of the transactions within the framework of this Agreement.

e.   The Customer shall be responsible for all operations executed in his/her account, including credit card deposits and withdrawals, and is responsible for securing the login password to his/her account, such that it would be known exclusively to him/her, or to those authorized by him/her, and he/she hereby waives any contention and right towards Caya Capital Markets NZ Limited, for any damage occurring as a result of an act or omission of the Customer or anyone acting on his/her behalf, resulting in an improper and inappropriate activity in his/her account.

A1 - Section 6 - System Risks II

The Customer again declares that he/she is aware of the fact that the provision of trading services via internet and/or mobile phone is a service involving communication and software, and therefore, faults may happen that are not dependent upon Caya Capital Markets NZ Limited and/or are not under its control. Therefore, Caya Capital Markets NZ Limited and/or any party on its behalf shall not bear any responsibility, and the Customer waives any contention towards them with respect to the damage that may be caused to the Customer, as a result of a fault in the activity of the site and/or mobile phone.

A1 - Section 7 - Stop Outs

Trade in the site or in part of it and/or with the link to the mobile phone, may be stopped without prior notice for a reason that does not pertain to Caya Capital Markets NZ Limited. In the event of such a trade stop, Caya Capital Markets NZ Limited may close open transactions of Customer without notice to the Customer, at fair prices, reflecting market conditions at the time. The Customer waives any contention or right of subrogation in such a situation, against Caya Capital Markets NZ Limited, for damage caused to him/her as a result of stopping the trade whether for transactions that he/she had executed or for transactions that he/she did not execute.

A1 - Section 8 - Trade Cancellations

8.1  Caya Capital Markets NZ Limited may cancel a transaction executed subsequent to a mistake in the exchange rate, including a mistake in the computer and information systems, controlled and uncontrolled by Caya Capital Markets NZ Limited, by providing notice to the Customer. It is possible that errors may occur in the prices of transactions quoted by Caya Capital Markets NZ Limited. In such circumstances, without prejudice to any rights, Caya Capital Markets NZ Limited shall not be bound by any Contract which purports to have been made (whether or not confirmed by Caya Capital Markets NZ Limited ) at a price which:

•   Caya Capital Markets NZ Limited is able to substantiate to the Customer, was manifestly incorrect at the time of the transaction; or

•   Was, or ought reasonably to have been, known by the Customer to be incorrect at the time of the transaction.

Trading strategies aimed at exploiting errors in prices (commonly known as "sniping" and/or "scalping") or technical errors of the trading platform are not accepted by Caya Capital Markets NZ Limited. If Caya Capital Markets NZ Limited, at its sole discretion in good faith, determines that Customer is taking advantage or attempting to take advantage of such misquotes or is performing other forms of abusive trading, Caya Capital Markets NZ Limited is entitled to take one or more of the following countermeasures:

•   Adjust the price spreads available to the Customer;

•   Restrict the Customer's access to streaming, instantly tradable quotes, including providing manual quotation only;

•   To close any trade of the Customer in a one side manner without any prior notice to the Customer. Also, to retrieve from the Customer's account any historic trading profits that have been gained through such abuse of liquidity - as determined by Caya Capital Markets NZ Limited in its sole discretion in good faith - at any time during the Customer relationship;

•  And/or terminate the Customer relationship immediately and without notice.

8.2.  The Customer is advised that Caya Capital Markets NZ Limited shall have the right, in addition to any other rights it may have under the Terms, to close open trades and/or limit the size of the Customer's open positions. Situations where Caya Capital Markets NZ Limited may exercise such right include, but are not limited to, where:

•   Caya Capital Markets NZ Limited has reason to believe that the Customer may be in possession of inside information;

•   Caya Capital Markets NZ Limited considers that there are abnormal trading conditions; or

•   The value of the Customers' security falls below the minimum margin requirement.

•   The Customer has a negative cash-balance on any Account.

•   Caya Capital Markets NZ Limited have the suspect that the Customer has traded maliciously using price errors or abnormal trading conditions or technical failures of the trading platform.

•   Pause of trading at the trading platform without any prior notice as a result of force majeure and/or any other reason that does not have to do with Caya Capital Markets NZ Limited.

A1 - Section 9 
An access to the company's sites is available via the internet from all the countries that allow this service. The company is not responsible for the legality of use of the internet by the Customer in the country of his/her residence. Each Customer is responsible to verify that his/her activity according to this agreement is not against the laws of the country from which he/she is using the internet. If there is an uncertainty of the Customer concerning the activity according to this agreement, it is forbidden for him/her to trade at this location.
The Customer declares that the use of the Company services and its site and/or that of the Company, does not contradict any law applicable to him/her, and undertakes to fulfill any legal obligation applicable to him/her subsequent to the use of the Company services and the outcomes thereof.

It has been clarified to the Customer that the company has the permission to stop the activities of the Customer at his/her account without prior notice whether the company would have a solid basis for assuming that the Customer is not fulfilling his/her engagement as aforesaid.
The Customer declares that the activity in the account managed with the Company is only his/her own, and that he/she is not managing the account for any other person, unless the Customer declares that he/she is managing the account for a beneficiary or beneficiaries or any third authorized party and fills their details in the relevant places in the appendix for Declaration of Beneficiary in the Account, attached to this Agreement.
The Customer declares that the origin of the money to be deposited in the Customer account from time to time is not from an illegal and/or prohibited activity, including but not limited to, from drugs, weapons and/or terror-related transactions and that it belongs only to him/her.
The Customer declares that all the money that is held on his/her account, belong to him/her by law and would remain this way.

A1 - Section 10 - Reporting

The Customer declares that it is known to him/her that he/she has access to all reports in the system. Upon the abovementioned, and according to the Customer's request, Caya Capital Markets NZ Limited shall transfer to the Customer a report and/or shall provide him/her with reports concerning the transactions he/she had executed and closed, open transactions and the updated situation of his/her account.

A1 - Section 11 - Identity Verification

The Customer declares that it is known to him/her that opening an account with Caya Capital Markets NZ Limited requires signing this Agreement, a copy of his/her identification card and/or passport and/or Company registration number if Customer is a Company, and a certificate of residential address (hereinafter and above: "Customer identification details"). The Customer agrees, and shall not have any counter-contention, that Caya Capital Markets NZ Limited is entitled to freeze and/or close the Customer's account if he/she did not submit all the Customer identification details as required.

A1 - Section 12 - Fees

The Customer shall be debited by Caya Capital Markets NZ Limited with commissions and charges at the rates according to the product he/she trades. The commissions shall be collected by Caya Capital Markets NZ Limited from the collateral funds.

i.   Caya Capital Markets NZ Limited may vary such commissions and charges without notice when the change is to the Customer's advantages, or the grounds for changes are due to external circumstances beyond Caya Capital Markets NZ Limited control. Such circumstances may be changes in the relationship with Caya Capital Markets NZ Limited which affects changes in commissions and charges that are transferred to the Customer by Caya Capital Markets NZ Limited.

ii.   Caya Capital Markets NZ Limited may vary such commissions and changes with one month's notice if:

a.   Market conditions including comparative behavior, call for changes to Caya Capital Markets NZ Limited conditions.

b.   Caya Capital Markets NZ Limited for commercial reasons wishes to change its general cost and pricing structure.

c.   Significant particulars of the Customer, based on which individual conditions were provided, have changed.

A1 - Section 13 - Notification of Agent

a.   The Customer may notify Caya Capital Markets NZ Limited by written notice of appointing an authorized person on his/her behalf (hereinafter: "Agent"), to make entry orders in his/her account with Caya Capital Markets NZ Limited. Should the Customer wish to cancel the appointment, he/she shall give notice of this to Caya Capital Markets NZ Limited in writing, and shall receive from it a confirmation of receiving the notice and of the cancellation of the power of attorney.

b.   Caya Capital Markets NZ Limited is not obliged to check the operations that the Agent executes in the account. Upon the execution of the power of attorney, the Customer declares that any operation that the Agent executes in the account will be considered as an operation authorized by him/her, and the Customer shall have no contention with respect to the operations of his/her agent, including any claim that an operation of his/her Agent had been executed contrary to the Customer's benefit or without his/her approval. Agent's orders shall oblige the Customer as if they were orders by the Customer him/herself, and Caya Capital Markets NZ Limited shall act in accordance with these orders as if they were orders by the Customer. Caya Capital Markets NZ Limited shall not bear any liability, with respect to damage, loss, cost, expense and so forth (hereinafter: "the Damage") caused to the Customer or to a third party following Agent's operations. The Customer waives any claim or contention or right towards Caya Capital Markets NZ Limited with respect to the Damage, without derogation from the aforementioned in this article.

c.   In the event that the Customer is composed of more than one person or if the Customer is a legal entity such as a corporation, trust or other, the Customer shall appoint an agent, and only this agent will be authorized to operate in the account. Upon the aforementioned, withdrawal of money from the account shall be made only by the order of all persons constituting the Customer.

A1 - Section 14 - Dissemination of Information

a.  Neither Caya Capital Markets NZ Limited nor any party on behalf of Caya Capital Markets NZ Limited will provide the Customer with consultation pertaining to the execution or non-execution of transactions of any type.

b.  Caya Capital Markets NZ Limited may, but shall not be obliged to put at the Customer's disposal, from time to time, directly and/or through any party on its behalf, information including, but not only, indications and/or forecasts and/or trading strategies and/or market signals and/or assessments and/or market analysis with respect to Forex rates or other assets as provided to it by information providers in the world. Any trading or market recommendation communicated to Customer by Caya Capital Markets NZ Limited does not constitute an offer to sell or the solicitation of an offer to buy any Contracts. Any such recommendation and information, although based upon information obtained from sources believed by Caya Capital Markets NZ Limited to be reliable, may be based solely on opinion and such information may be incomplete and unverified. Caya Capital Markets NZ Limited makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any trading recommendation or other information furnished to Customer.

c.  By signing this agreement, the Customer confirms and agrees that he/she is interested in receiving all the information as aforesaid, including and especially the information that is received from Caya Capital Markets NZ Limited, that would be delivered to him/her by Caya Capital Markets NZ Limited and the distributor and declares that he/she understands that the Information is provided for the Customer's convenience as a service by Caya Capital Markets NZ Limited but the Information may be incorrect, inaccurate and/or insufficient for any purpose in general and for the purpose of the execution of transactions in particular, and that the Customer bears the absolute responsibility to verify that the Information is credible, complete, sufficient and suitable for his/her needs. And that he/she would not have any assertions because of the quality or the credibility of the information.

d.   Neither Caya Capital Markets NZ Limited nor any party on behalf of Caya Capital Markets NZ Limited shall bear any responsibility with respect to damage, of any type, incurred by the Customer and/or a third party following the use of the Information, and the Customer waives any claim or contention or right towards Caya Capital Markets NZ Limited and/or any party on behalf of Caya Capital Markets NZ Limited with respect to the use of said Information.

A1 - Section 15 - Termination

a.  The period of Agreement is unlimited, but Caya Capital Markets NZ Limited may terminate this Agreement at any time, by giving notice to the Customer. As from this time, the Customer may not be able to enter into new transactions (except for the purpose of closing existing transactions).

b.  The termination of the Agreement will oblige the Customer to close all his/her open transactions until their value date, and subject to the arrangement for closing transactions within this Agreement.

c.  If the Customer is a corporation, the person signed upon this Agreement confirms that he/she is authorized to sign the Agreement on behalf of the corporation, and that all resolutions and approvals have been made by the corporation's various entities, required for the purpose of executing the transactions detailed in this Agreement, and that this Agreement constitutes a valid and enforceable undertaking by the corporation.

d.   The Customer may not assign or transfer his/her rights under this Agreement to a third party, except by prior approval of Caya Capital Markets NZ Limited in writing. Caya Capital Markets NZ Limited may assign its rights and/or undertakings in accordance with this Agreement by notice to the Customer.

e.  Notices of Caya Capital Markets NZ Limited to the Customer would be through the electronic mail and/or fax and/or trading system and/or Caya Capital Markets NZ Limited's site and/or any other way Caya Capital Markets NZ Limited uses to contact its Customers. Communication between the Customer and Caya Capital Markets NZ Limited would be via email and/or fax.

f.  The depositing of money in Caya Capital Markets NZ Limited account and/or the Customer's signature upon this Agreement shall constitute and shall be considered as acceptance of the Agreement by the Customer.

g.  This agreement cancels any prior agreements that were signed between the sides.

h.  In any dispute arising between the parties as a result of this Agreement or with respect thereto, the exclusive jurisdiction shall vest in the authorized courts of law of the British Virgin Islands and the local laws shall apply. By consenting to the provisions of this Agreement, the Customer agrees to the authority of the aforementioned courts of law, and waives any contention against such authority, including the contention that the courts of the British Virgin Islands are forum non convenience for resolving any such dispute.

Before turning to court, the party wishing to commence action must approach the other party and notify him/her of any claim or contention that said party has towards the other party, and of his/her intention to commence action, in order to allow the other party to try and resolve the claim without resorting to legal proceedings. The Customer confirms and declares that it is known to him/her that all copyrights in the trading system, the Information and any document signed by the Customer are owned by Caya Capital Markets NZ Limited, and the Customer shall not make any use in any of the above but for purposes of this Agreement and its performance. The Customer also undertakes not to enter any change in any of the above. In case the Customer enters any change, and in addition to the fact that it shall constitute a breach of this Agreement, the said change shall be in the exclusive ownership of Caya Capital Markets NZ Limited.

i.   The Customer confirms and declares that it is known to him/her that all copyrights in the trading system, the Information and any document signed by the Customer are owned by Caya Capital Markets NZ Limited, and the Customer shall not make any use in any of the above but for purposes of this Agreement and its performance. The Customer also undertakes not to enter any change in any of the above. In case the Customer enters any change, and in addition to the fact that it shall constitute a breach of this Agreement, the said change shall be in the exclusive ownership of Caya Capital Markets NZ Limited.

j.   The Customer confirms and declares that he/she is aware that Caya Capital Markets NZ Limited has the authority according to its consideration and subjugated to the European regulation to cover deals fully and/or part of them and/or any other way.

k.  The Customer confirms and declares that Caya Capital Markets NZ Limited would have the permission to transfer to third parties that referred the Customer to Caya Capital Markets NZ Limited, full information of the trades that were executed by the Customer, including the commission the Customer paid for his/her trading deals.

l.   If an authorized court of law rules that a certain provision in this Agreement, including its implementation and/or circumstances are invalid and/or illegal and/or are unenforceable in a certain manner, the remaining provisions of the Agreement and the implementation thereof shall not be affected thereby and shall remain in full force and effect. The parties shall do their best in order to replace the unenforceable provision with an enforceable alternative provision of which the purpose is similar, as much as possible, to the cancelled provision. .

A1 - Section 16 - Margin Risks

The Customer declares that it is known to him/her that in transactions which Customers may execute with Caya Capital Markets NZ Limited, high financial leverage is utilized, with collateral being small relative to the size of the investment. The Customer declares that he/she understands that a possible outcome of trading with a high financial leverage is that a small change in market prices, which may occur in short periods of time, may generate a large profit or a large loss relative to the amount of collateral, including a loss of the entire amount of the collateral, or even more, in exceptional market conditions, within a very short period of time. The Customer especially understands that fluctuations in exchange rates in the Forex market and financial markets may be sharp, and the extent of changes, its direction and the periods of time in which it may occur, are unforeseeable. The Customer declares that in light of the above, he/she understands that he/she must seriously consider whether this type of trading suits his/her needs, taking into consideration, among other things, his/her personal situation and his/her financial capacity. The Customer also declares that he/she fully understands the meaning of the transactions that he/she is executing, and that there is a high risk that he/she might lose the entire amount that he/she shall invest in transactions as a result of trading with these financial instruments.

If this document is signed on behalf of a corporation, the signatory declares towards Caya Capital Markets NZ Limited that he/she is authorized by the corporation to make decisions on behalf of the corporation, and that all the decisions necessary in the corporation have been made in order to undertake the abovementioned risks.

A1 - Section 17 - Email

It has been made clear to the costumer, according to the new spam law, that he/she has the right to refuse the acceptance of commercial materials via e-mail and/or

SMS (Short Message Service). The Customer approves by signing this agreement that he/she acknowledges that all the details sent by him/her to Caya Capital Markets NZ Limited, according to the terms of this agreement, would be used to send him/her messages and commercial materials by Caya Capital Markets NZ Limited and he/she approves it.

It is agreed that the Customer shall have the permission to notify Caya Capital Markets NZ Limited in writing, at any time, of his/her refusal to the acceptance of these messages and Caya Capital Markets NZ Limited would be committed to act according to his/her orders.

A1 - Section 18 - Communication Between Parties

All communications pursuant this Agreement shall be made either via Certified Mail, confirmed E. Mail, the Trading System, this Web Site or any other written means of communication or any other confirmed written communication.

Declaration

I hereby declare that I am well experienced in trading in the Forex market (exchange rates of foreign currencies), Forex derivatives and various financial assets via the Internet and otherwise and I further confirm reading and understanding the procedures as detailed in this appendix including any disclaimer of responsibility by Caya Capital Markets NZ Limited and irrevocably agree to them all. In testimony thereof I checked the relevant field at the bottom of the account opening form.

(In the event that the Customer is a Company or any other corporation, it is mandatory to fill the power of attorney for the appointment of an Agent).

Customer Details, Acceptance of a Secret Code

I, the Customer, confirm the correctness of all my personal details listed in the personal details form and I will inform Caya Capital Markets NZ Limited immediately of any change of those details.

I, the Customer whose details are as listed in the personal details form, hereby request Caya Capital Markets NZ Limited to assign to me a user number in its trading system.

I confirm that I have read all the Agreement for the provision of trading services in capital markets via the internet and/or mobile phone, between Caya Capital Markets NZ Limited and me, and I agree to its terms.

I confirm that it is known to me that the area of trading services in Forex and financial assets is a high-risk area, and it is clear to me that if I invest money in this area, there is a substantial risk that may generate a large loss relative to the amount of the collateral or loss of all the collateral.

I confirm that it is known to me that the method of trading via internet and/or mobile phone, more than any other method of trading in those assets, is dependent upon many factors including the functionality of computers, computer software, communication lines and computer servers in various locations, and despite this risk, of which I am aware, I have chosen to use the services of Caya Capital Markets NZ Limited and I will not have any claim pertaining to the fact that trade orders will not be executed subsequent to such technical faults.

I wish Caya Capital Markets NZ Limited to allocate me with a secret code for its trading platform and I confirm that any secret code and/or password, including any access code or other information security method to the site and/or the link to the mobile phone (hereinafter: "Passwords") that I shall receive from Caya Capital Markets NZ Limited are personal, private, non-transferable to a third party, and it is my full and exclusive responsibility to maintain them in full confidentiality. Caya Capital Markets NZ Limited or the Distributor shall bear no responsibility for loss and/or any other damage that I may incur as a result of inappropriate and/or unauthorized and/or unprotected use or storage of the said passwords, including, but not limited to, the delivery of passwords to a third party and/or a third party's use of my accounts, whether or not done in my knowledge.

I, the Customer agree and approve that in a case that I would ask to receive a service via any systems which allows technical support of Caya Capital Markets NZ Limited while taking control over the desktop of the Customers PC - I would not have any assertions against Caya Capital Markets NZ Limited due to damage, loss or any other expenses that might be caused to the Customer, directly or indirectly as a result of receiving a service via this media.

Please note, notwithstanding anything to the contrary in this agreement only the English version of this agreement shall govern the relations between the parties.

Caya Capital Markets NZ Limited ________________   
Signed by the Customer 
________________

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