Cookie Policy
CONSENT: By visiting Ocean Spin websites with your browser settings set to accept cookies or using their products and services, you are indicating your consent to the use of cookies and other technologies as described in this policy.
WHAT ARE COOKIES AND THEIR USES: Cookies are small files transferred to your device that allow Ocean Spin systems to recognize your device. They use cookies for various purposes, including:
TYPES OF COOKIES:
Essential Cookies: These are necessary for the core functions of the site and trading platform. Disabling them may prevent you from accessing important parts of the site.
Marketing Cookies: These personalize your online experience and show you ads based on your interests, as indicated by your activity on the site. Data collected by these cookies is anonymized.
Behavioural and Analytical Cookies: These help provide you with a better service by tailoring site content to your preferences and past behaviour or remembering your settings.
Other Cookies: These are third-party cookies used for marketing initiatives and to enhance user experience. The data collected by these cookies is also anonymized.
COOKIE SETTINGS: The policy mentions that you can modify your browser settings to:
Prevent your browser from accepting new cookies.
Have your browser notify you when you receive a new cookie.
Disable cookies altogether.
DATA PROTECTION: The Company is committed to protecting your personal information.
CONTACT INFORMATION: If you have specific questions or concerns about cookies, you can contact their support at support@oceanspin.io
PRIVACY POLICY: The policy suggests referring to their Privacy Policy for more information on how they handle your data.
This policy is designed to inform users about the use of cookies and their options to manage their cookie preferences when interacting with Ocean Spin online platforms. If you have any concerns or need more information, it's advisable to reach out to support or review their Privacy Policy for a comprehensive understanding of their data handling practices.
Disclosures and Risk Warning
Contracts for Difference (hereinafter “CFDs”) are complex instruments that provide no capital protection, and no guaranteed return, whereas the trading results are magnified due to the effect of leverage. Trading CFDs is not suitable for all investors; traders should make sure that they fully understand the features of the product and the risks involved before opening the trading account(s). Traders should ensure that they only trade the amounts they can afford to lose while being aware of trading risks.
Scope of the Risk Disclosure
The Risk Disclosure and Warning Notice (hereinafter “Risk Disclosure document”) outlines on a fair and non-misleading basis the general nature of the risks involved when dealing with CFDs.
Clients should not commence trading in CFDs unless they understand the risks involved. It should be noted that the Risk Disclosure document can’t contain all the risks and aspects involved in trading CFDs, nor how such risks relate to each client's circumstances. Clients need to ensure that their decision is made on an informed basis. Clients may seek professional independent advice before commencing trading.
This disclosure is provided for informational purposes and should not be treated as marketing material or any form of client solicitation.
The Risk Disclosure document should be read in conjunction with the Client Agreement and General Business Terms that are available on the website.
Main risks associated with transactions in CFDs
Use of leverage
Leverage in CFD transactions allows clients to gain exposure to the underlying asset with a smaller upfront investment, known as margin.
While leverage is a powerful tool, it can be seen as a double-edged sword. This is because both profits and losses can be magnified by even small market movements, and clients could incur large losses if their position moves against them. However, retail clients cannot lose more than the balance on their trading account(s) as the Company provides “negative balance protection”.
Before investing in margin trading instruments, clients shall ensure that they only invest funds that they can afford to lose.
Credit and Insolvency Risk
When trading CFDs, clients are effectively entering into an over-the-counter (hereinafter “OTC”) transaction; this implies that any position opened with the Company cannot be closed with any other entity. OTC transactions may involve greater risk compared to transactions executed on regulated markets (e.g. traditional exchanges); this is because in OTC transactions, there is no central counterparty and either party to the transaction bears certain counterparty credit risk.
The Company’s insolvency or default may lead to positions being liquidated or closed out without the client’s consent.
Market Risk
CFDs are exposed to market events, such as the implementation of governmental, agricultural, commercial and trade programs and policies, national and international socioeconomic and political events, natural disasters etc., which may substantially affect the price or availability of a given underlying asset. Based on the underlying of each contract, clients are exposed to different types of market risk such as interest rate risk, commodity risk, equity risk, foreign exchange risk, and others.
Clients must therefore carefully consider their investment objectives, level of knowledge and experience as well as their risk appetite before entering this market.
Volatility Risk
Volatility risk can significantly impact a CFD position, as higher volatility may lead to larger price swings, increasing both the potential profits and losses.
Clients should understand and agree that if market conditions become abnormal and/or too volatile, the time required to process their orders and instructions may increase.
Foreign Exchange/Currency
Be-aware of currency risk. It is possible to buy or sell CFDs in a currency that is different from the base currency of your account. In such cases, the movement in foreign exchange rates may affect your realized profit or loss. Furthermore, clients face foreign exchange risk if they make payments in a currency that differs from the currency of their trading accounts.
Liquidity Risk
Liquidity risk refers to the possibility that certain underlying assets may not be readily tradable or lack immediate market liquidity during a specific time frame, which could result in losses that are difficult to prevent or mitigate. In such cases, the bid-ask spread may become wider, making transactions more expensive.
Technical Risk
Technical risk is an inherent aspect of online trading, encompassing potential challenges arising from hardware and software failures, connectivity issues, electricity network failures, hacker attacks, connection overload, system malfunctions, and other technical factors that may impact order execution and overall trading performance. Traders should use reliable technology and antivirus software, and maintain a stable internet connection. Additionally, they should implement effective risk management trading strategies and stay informed about platform updates while having contingency plans for technical failures. Traders should refrain from sharing login credentials and should utilize strong and unique passwords.
Trading Platforms
All clients' instructions are sent to our server and executed in order. Therefore, clients cannot send a second order until their previous order has been executed. If a second order is received before the first is processed, the second order will be rejected. Clients assume responsibility for any unplanned trading operation that may be executed if they resubmit an order before being notified of the results of the first order.
Clients must understand that closing the order window or position window does not cancel a submitted order.
Clients acknowledge that only the quotes received from our server are valid. If there is a problem in the connection between the client terminal and our server, the client can retrieve undelivered quote data from the client terminal's quote database.
Communication
There is a risk that the client may miss important communications if their communication channels are not up-to-date or functioning properly. The client must ensure that their contact information is current and reliable to avoid any potential communication gaps and associated consequences.
Abnormal Market Conditions – Suspensions of Trading
Under certain trading conditions, it may be difficult or impossible to execute or liquidate a position, or the period during which the Clients’ orders are executed may be extended. This may occur, for example, at times of rapid price movement, when the prices rise or fall in one trading session to such an extent that trading may be suspended or restricted. Placing a stop-loss order will not necessarily eliminate clients’ losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price. In addition, under certain market conditions, the price at which a stop loss order is executed may be worse than its stipulated price and the realized losses can be greater than expected.
Force Majeure Events
The Company is not responsible for financial losses arising from force majeure events. These events are extreme and unavoidable circumstances that are independent of the will and actions of the agreement participants, and that cannot be foreseen, prevented, or eliminated, including but not limited to natural disasters, fires, man-made accidents and disasters, emergencies at utility works and on utility lines, DDOS attacks, riots, military actions, terrorist attacks, uprisings, civil unrest, strikes, and the regulatory acts of state and local government authorities.
Slippage
Slippage is a phenomenon when the requested price has slipped, i.e. the order was opened with a different price from the requested price. It refers to the difference between the expected price of a trade and the price at which the trade is executed. Slippage can occur at any time but is most prevalent during periods of high volatility. Slippage does not denote a negative or positive movement because any difference between the intended execution price and the actual execution price qualifies as slippage. The final execution price vs. the intended execution price can be categorized as positive slippage, no slippage, or negative slippage. A market order may get executed at a less or more favourable price than originally intended when this happens.
Risks associated with the laws of individual governments
Clients assume responsibility for trading and non-trading operations performed within countries where they are restricted or prohibited by law.
Third-Party Risk
The Company may deposit client money with a third party. Although the Company shall exercise due skill, care, and diligence in the selection of such a party, it is understood that there are circumstances beyond the control of the Company and hence the Company does not accept any liability or responsibility for any resulting losses to the client as a result of the insolvency or any other analogous proceedings or failure of such third parties.
Additional Disclosures
Margin Requirements
Clients must maintain the minimum margin requirement on their open positions at all times. It is the client's responsibility to monitor their account balance and ensure that sufficient funds are in place to cover their trading strategy and minimum margin requirements. Failure to do so may result in positions in the client's trading account, being liquidated. Clients should not rely on last-minute deposits.
Rights to Underlying Assets
CFDs do not provide any rights to the underlying instruments.
Taxation
The clients should seek independent tax advice, if necessary, to establish whether they are subject to any tax, including stamp duty.
Risk Warning:
Our Auto Trading Bots allow users to automatically place orders based on pre-set parameters. Using Auto Trading Bots does not mean that your returns are guaranteed but our errorless system can assure you perfect outcome as stable daily bonus.
Please take note that any information provided by us about the Trading Bots should not be regarded as financial, trading or investment advice and that your investment is subject to risks and the potential loss of some or all of the principal invested. By using the Auto Trading Bots, you agree that you are solely agree for making your independent assessment of any information provided by us and that you have read through and are aware of all terms and conditions applicable to the Auto Trading Bots and the risks involved.
In particular, Virtual Asset trading is subject to high market risk and price volatility. The price of a Virtual Asset may move up or down and may become valueless. It is as likely that losses will be incurred rather than profits made as a result of buying and selling Virtual Assets.
Impersonation Risk
There might be cases of fraudulent impersonation of the Company’s officers and representatives. Clients should not share their data, including information about their trading accounts, with persons who appear to represent the Company unless they have ensured that such persons communicate from the official contact details and domains of the Company.
In case of any queries regarding the content of this document and the features of our products, you may contact our customer support at support@oceanspin.io
Before deciding to trade, you should carefully consider your financial situation, objectives and needs, and seek independent financial, legal, tax, and/or other professional advice.
In case of question about any of the risks arising out of trading, you should consult with your own legal, tax, and other financial advisers before entering into any particular transaction with the Company
