1.1. The website www.TradeFinancial.co.za allows Clients to trade currencies, commodities, stocks and indices online.
TradeFinancial.co.za is owned and operated by Armenson Ltd., a company incorporated under the law of Vanuatu, with registration No. 14759, with registered address at PO BOX 1276, Port Vila, Vanuatu, Republic of Vanuatu.
1.2. These Terms and Conditions establish an Agreement between the Company and the Client. This Agreement includes the website and the services that are offered through the Site. These include but are not limited to software or content on the Site that gives Clients real-time information about indices, stocks, currency rates and commodities margins. This also includes the platform and software used to execute trading transactions online, by fax or over the telephone.
1.5. When the Client registers for the services at the Company, he or she will need to provide specific identifying information.
1.6. The Client is responsible for keeping their username and password secure. The Client is solely responsible for any damage that is caused by an omission or act involving the misuse of his or her account. The Client is solely responsible for access to the Site through his or her internet connection and account, even if it is not the Client who is accessing the Site.
1.7. The Client agrees to provide current, accurate, complete and true information in the registration process. The Client agrees not to impersonate any other entity or person or misrepresent any affiliation with another associate, entity or person or use any means to try to conceal his or her identity from the Company for any reason. If the Client is registering as a business entity, he or she acknowledges that they have the authority to enter into this Agreement on behalf of that entity.
2.1. The Company owns the intellectual property rights of the website including but not limited to trademarks, copyrights, patents, content, designs, modules, information, know-how, techniques, algorithms, user interfaces, software, business methods and all other aspects whether they are registered or not. The intellectual property on the website includes videos, pictures, text and other content that is owned by the Company and the Company’s licensors. Without prior permission from the Company, no person or entity can print or make copies of any of the above content. All rights are reserved.
2.2. The Client is granted a non-exclusive limited right to use the IP address of the website for non-transferable, non-commercial and personal use regarding the services offered on the Site. Unless permission is given by the Company, no other person or entity will be granted a license or IP right. The Client agrees not to transfer or duplicate any of his or her rights without prior consent from the Company. The Client also agrees not to edit, remove or duplicate any material on the website. The Client is only allowed to print one copy printout from the Site which is exclusively reserved for personal use.
Rights Company has to Client Accounts
3.2. The Company reserves the right to restrict the Client’s access to the services and the Site in all or in part.
3.3. The services provided by the Company are only available and can only be used by Clients that can form contracts that are legally binding under the applicable laws in the country in which they reside. These services are not available to people under the age of 18 or those who are considered a ‘minor’ or under the legal age. If you are a minor you cannot use the Company’s services. DO NOT USE THE COMPANY’S WEBSITE IF YOU DO NOT QUALIFY.
3.4. The Company is not responsible for any unauthorized use of the Site or services by minors in any way.
3.5. The Company’s Services are not available in countries where their use is illegal and the Company has the right to cancel and/or refuse services to anyone at their sole discretion.
3.6. It is the Client’s responsibility to understand and ensure compliance with all applicable laws, directives or regulations they are subject to in regards to financial contracts. The ability to access the Company Site and services does not necessarily mean the Client can legally conduct transactions under the directives, laws and regulations of their country of residence.
- 1.”In – Active Accounts” – An account shall be considered to be “In-Active” in any case in which the Client has failed to execute a trade in the account for a minimum time period of sixty (60) consecutive days.
- 2. In any case in which an account held with the Company shall be classified as an in-active account, in accordance with the abovementioned definition, the Company shall reserve the right to deduct a monthly fee, on the condition that the Client account has the available funds, based on the time period in which the account has been in active, as depicted in the following schedule:
- 3. 1st month of account in-activity – a fee of 50 USD shall be deducted from the account balance
- 4. 2nd month of account in-activity – a fee of 99 USD shall be deducted from the account balance
- 5. Fees shall be deducted following a period of 30 days, upon the account becoming in-active.
Following the initial deduction of the fees, and in accordance with the above-mentioned schedule, in-activity fees shall be deducted from the account on the basis of every 30 calendar days Company may reserve the right to adjust and/or change any fees charged and/or deduction schedules for in-activity of the account, in accordance with its sole discretion and without the inform the Client of any such changes being made in the Company’s policy.
3.9.2 Over-Night Funding Fees
When you hold an open position overnight (after 24:00 GMT time) you will be charged with the Over-Night Funding Fees, which reflect the costs of the interest which accrue on your trade.
The Over-Night Funding Fees differ from one currency pair to another. Please see the relevant fees for each pair in this table, which constitutes an integral part of these Terms and Conditions.
4.1. The services provided by the Company are only available for Clients that have sufficient knowledge and experience in financial matters. Clients must be able to evaluate the risks and merits of trading through this Site without relying on information on this Site. The Client is solely responsible for any decisions made on the Site or any decisions made using the information on the Site.
4.2. The Client acknowledges that there may be a high level of risk involved with trading on the Site and this could result in loss of some or all trading funds in the Client’s account. The Client also acknowledges he or she understands the results and consequences of success and failure.
4.3. The Client acknowledges that option trading and margined currency is one of the riskiest types of investments in the financial markets and should only be entered into by institutions and individuals with sufficient knowledge and experience. The prices involved with margined currency trading are volatile and funds in a trading account using maximum leverage can be lost entirely if the positions in the account experience a two percent change in value. Because it is possible to lose an entire investment, the Client should only trade in the foreign exchange market with risk capital funds that will not significantly affect their financial well being if lost. The Client can confirm that the funds used on the Site are strictly risk capital and loss of the investment will not affect his or her living style or negatively impact the future of his or her retirement program. In addition, the Client understands the risks and nature of currency options and currency investments and the Client’s obligations to others will not be neglected if investment loss occurs.
5.1. The Company is not responsible for determining whether Clients have sufficient knowledge and/or experience, nor is the Company responsible for any loss or damage that is incurred as a result of the Site, use of services or transactions carried out.
5.2. The Company or its Agents will not be held responsible for indirect or direct damage, penalty, consequential, special, occasional or any other type of damage under any circumstance. The Company and its Agents are not responsible for damages due to loss of profits, loss of data, loss of use or any damages relating to the carrying out of transactions on the Site or the use of services.
5.3. It is the responsibility of the Client to verify the reliability of information provided on the Site and the value of this information for his or her needs. The Company is not liable for any damages, losses or claims caused by information on the Site or referred to by the Site.
5.4. The Client acknowledges that the services on this Site involve speculative high-risk investments that may not be legal in his or her jurisdiction. The Client assumes complete responsibility for verifying the legality and validity of his or her actions on the Site. CFDs trading or other options available on the Site may be considered to be highly speculative investments. The Client may risk losing their capital in a short time frame and because of this the Client acknowledges that he or she understands the risks, and it is up to them to seek independent financial advice.
5.5. Before the Client enters into a limited liability transaction, the Client must get a formal written statement from the Company to confirm the level and amount of the loss liability for all transactions. This amount must be agreed to before the transaction is opened. The amount that can be lost in these transactions is less than other margined transactions as they have no predetermined loss limit. However, the Client acknowledges that he or she may experience a loss in a short period of time. The loss may be limited but there is a substantial risk of a total loss in accordance with the agreed amount.
5.8. The Company is not liable for any default or breach of obligations of any counter-party, custodian, bank, market operator, sub-custodian, depository, exchange, intermediate broker, clearing house or other third party that the Client conducts business with. The Company is not liable for any loss suffered by the Client in connection with the Site unless the loss stems directly from the Company’s fraud, purposeful default or negligence. The Client will pay all commissions and other charges that are due as well as premiums on any option the Client purchases. The Company may require these payments at any time to satisfy the balance on the Client’s account. The amount of any loss incurred during trading could result in service or interest charges due to the company as well as legal fees and costs involved in collecting these amounts owed. All payments are to be made on the same day the funds are freely transferable in such currency to such bank as the Company may specify. The Client is responsible for keeping the Company, its employees and its agents effectively and fully protected against all charges, costs, expenses and liability incurred by the Company in regards to the Site unless it is due to the Company’s fraud, purposeful default or negligence. This clause is valid even if there is a termination of any Agreement made between the Company and the Client.
5.9. The Company is not liable for any expense, liability, cost or loss incurred or suffered by the Client unless that loss is the result of the Company’s purposeful default, negligence, consequential or indirect damage or loss, expenses, costs or other consequential compensation claims that relate to this agreement or loss is incurred due to an error of information or instruction given to the Client or as a result of the Company acting on an order that appears to be from the Client.
5.10. The Client agrees to reimburse the Company against any expense, cost or claim that is incurred by the Company as a result of a claim made by the Client against the Company involving omissions or similar acts by the Client.
5.11. The Company will not be held responsible or liable for any damage as a result of force majeure when it is not in the control of the Company.
Third Party Providers
6.1. The Company may provide through one or more of its services a wide range of financial information that is created internally or obtained through partners, vendors or agents (‘Third Party Providers’). This financial information includes but is not limited to analyst opinions, financial market data, research reports, news, quotes or graphics.
6.2. While Third Party content is presented through links or frames on the Site, the Company does not promote, edit or prepare this content. The Company does not guarantee its accuracy or credibility and is not responsible for the products, advertisements, content or other material on Third Party Provider Sites.
6.3. The Site may have links to outside resources and websites. The Company does not endorse and is not responsible for these outside resources and Sites. The Client will bear the full responsibility of using these third party Sites at their own risk.
6.4. The Client should understand the risk of using, purchasing, retrieving or relying on anything accessed through the Internet.
6.5. Links provided to the Client on the Site are for his or her convenience. The Client agrees that they cannot hold the Company liable for any damage or loss caused by the reliance or use of any services, goods or content on third party Sites under any circumstances.
7.1. The financial information on the Company’s Site should not be used as investment advice. The Company does not approve or endorse the financial information but simply makes it available as a service for the Client’s convenience. The Company and Third Party Providers do not guarantee the completeness, timeliness, sequencing or accuracy of financial information and do not warrant any results from the reliance or use of the financial information.
7.2. Financial information may become unreliable for a number of reasons including but not limited to changes in economic circumstances or changes in market conditions. The Company and its Third Party Providers are not obligated to update any opinions or information in the financial information and the Company or Third Party Providers may stop offering this information without any notice.
7.3. The Client’s orders for withdrawal from his or her account will be executed by either: (a) refund of his or her credit card which must be the same card that was used to make deposits and equal to the deposit amount or (b) bank wire transfer to his or her bank account which can only be made to the account which deposits were made from. The Company may require identification documents for the bank wire transfer at the Company’s discretion. The Company will make every effort to execute orders in the way the Client has specified. Withdrawals must be made in accordance with the Site procedures and it may take up to 5 business days (considering we have all the required wire details in order to proceed), or as determined by the billing provider – whichever is longer. It can take up to 21 business days for the funds to show in your account. If the Client wants to cancel a withdrawal request, he or she can do so only if the withdrawal is not completed (no confirmation has been sent and the request has not be executed). If multiple withdrawal requests are sent by the Client and the Client then requests to cancel all or part of the orders for withdrawal, the first withdrawal request made will be cancelled followed by the next earliest withdrawal request and so on. Billing and Clearing is governed by the British Laws.
7.4. Adjustments will be made to the price of options in accordance with adjustments made in regards to base assets. If the Client has an open transaction involving such an option, the adjustment will be made to that transaction. The Client agrees that the Company reserves the right to round the final digit of all assets.
7.5. No person, organization, business or other entity shall abuse this Site for the purposes of money laundering. The Company uses anti-money laundering or AML measures and procedures to combat and deter such practices. The Company has the right to discontinue or refuse to do business with and to reverse any transactions of customers that do not conform to or accept these AML policies and requirements:
Traders must provide all necessary information when they register.
Payments from winning trades will only be paid to the person that first registered for the trading account.
When a Client maintains a trading account via telegraphic deposits, then winnings will only be given to the holder of the original bank account. When deposits are made in this way, the live trader is responsible for ensuring the registered name of the account and the account number accompany every transfer to the Company.
When a Client deposits funds into an account through a debit or credit card, winnings will only be paid to the individual whose name is on the card that was used to make the deposit. Profits will only be paid back to the Client via wire.
The Company only allows one account per individual. Winnings cannot be collected on accounts opened in fake names or multiple accounts that have been opened by the same person.
The Company, at its sole discretion may occasionally require Clients to provide additional proof of identity like an authorized passport copy or other identification documents that are required. The Company may, at its discretion, suspend a trading account until satisfactory proof of identity is provided.
7.6. The Company reserves the right to cancel any transaction if it has sufficient evidence and/or reasons to believe that the following has happened:
- a) Illegal or fraudulent actions led to the transaction.
b) Orders were placed based on displayed prices that resulted from a system malfunction.
c) Error by the Company or one of its Third Party Providers.
d) The Company has not followed the instructions of the Client.
e) The transaction is in violation of the terms stated in this Agreement.
- Use the Site for unlawful or fraudulent purposes.
b) Use the Site to abuse, defame, harass, threaten, stalk or violate the rights of others including rights of publicity and privacy rights.
c) Impersonate any entity or person, misrepresent or falsely state affiliation with any
d) Entity or person connected to this Site or imply the Company endorses statements you make.
e) Disrupt or interfere with the operation of the Site including its networks and servers to make the Site accessible or violate any procedures, politics, regulations or requirements of these networks.
f) Transmit or make available to the Site any worm, Trojan horse, virus or other computer code that is invasive or harmful or is intended to damage the operation or monitor any equipment, software or hardware.
g) Duplicate, reproduce, sell, resell or copy for any commercial purpose any part of the Site.
h) Adapt, modify, reverse engineer, disassemble, translate or decompile any part of the Site. If the Client wants to reverse engineer part of the Site to make an interoperable program, the Client must contact the Company and the Company may offer interface data after the Client’s identity is verified.
i) Remove any trademark, copyright or other proprietary rights notice from the Site or materials that are associated with the Site.
j) Mirror or frame any part of the Site without prior consent from the Company.
k) Make a database by systematically storing and downloading content on the Site.
l) Use any automatic or manual device to get Site content or to circumvent or reproduce the presentation or navigational structure of the Site without prior consent from the Company
- Use the Site for unlawful or fraudulent purposes.
8.1. The Company has the right to suspend part or all operations of the Site under these conditions and circumstances:
When it is not practical without adversely and materially affecting the Client’s interest in the Company due to military, economic, political or financial events (illiquidity or unusual volatility) and if the price cannot be calculated for trading contracts based on the Company’s sole discretion.
When communication breaks down which is normally used to determine the value or price of financial trading contracts or when the price or value of these contracts cannot be accurately or promptly acquired.
When the Company suspects that the trading platform is being abused by the Client or the Client has used some means to manipulate or change the trading platform in general or for a specific contract. The Company reserves the right to cancel, terminate and/or reverse the trades that were manipulated or opened by fraudulent means. If the Company suspects fraud, it will temporarily suspend the offending account and freeze all trades and assets and a full 90-day review will be conducted. If manipulation and/or fraud is found the account will immediately be terminated and all assets will be permanently frozen.
The Company with or without notice at its discretion can close your open financial trading contracts at prices it believes to be reasonable and fair and no claims can be made against the Company because of it.
8.2. If there is manipulation or abuse of the trading platform, the Company reserves the right to follow any procedures it deems appropriate and necessary to rectify the situation. The Client understands that trading functions via the trading platform may be suspended or stopped without any notice at any time because of circumstances that are not in the Company’s control.
8.3. If manipulation or abuse is found, the Company or an authorized party may close the Client’s positions without any notice at the fair market value which is reflected. The Client waives any suits, claims or action against the Company in the case of such an event. This waver is a pre-condition of this Agreement.
8.4. The Company, with prior notice sent to the Client, reserves the right to cancel any transaction that is the result of a human and/or trading platform error whether the Company has control or not if the price is not accurate or indicative of the actual market value of the financial contract.
9.1. The Client warrants and represents that he or she has the full authority and power to bind himself/herself to the Terms and Conditions, documentation and transactions as outlined. The Client agrees to follow all obligations stated and will take the necessary action to authorize transactions.
9.2. The Client acknowledges that any delivery, performance or execution does not conflict or violate any applicable law they are subject to or any constitution, provision, contract, deed or contractual restriction.
9.3. The Client promises all information he or she provides is accurate and true.
9.4. The Client acknowledges that all regulatory, governmental and other consent that is needed to be obtained in regards to the Site has been obtained and is in complete effect and force, and all conditions of that consent have been complied with.
9.5. The Client acknowledges their obligations under the Terms and Conditions and that this Agreement is valid, binding, legal and enforceable.
9.6. The Client agrees to comply with all laws, regulations, disclosure requirements and rules of any jurisdiction, market, regulatory authority or exchange they are subject to.
9.7. The Client agrees to promptly give the Company all necessary information and assistance needed so that the Company can achieve or assist with compliance with any obligations that are discussed in relation to the Site or the Client’s account.
9.8. When the Company provides the Client with an execution-only service, the Client has the right to understand and evaluate the terms, risks and conditions of every transaction whether or not it is recommended by the Company. The Client must be willing to accept those Terms and Conditions and bear the full responsibility of any risks involved.
9.9. The Client acknowledges they are acting as principal in all transactions carried out on the Site.
9.10. The Client understands if he or she is in violation of any of the Terms and Conditions the Client will give the Company notice of this occurrence.
9.11. The Company will use all reasonable efforts to make sure the Site is always available, but there is no guarantee that the Site or an individual feature or function on the Site will be error free or readily available. The Site may not be available during maintenance or when the Company is implementing upgrades. The Client understands that even though the Internet is dependable, certain conditions and technical problems may prevent and/or delay the Client’s access to the website. The Company cannot be held liable and the Client agrees not to initiate claims against the Company or any of its Agents for technical problems. These problems include but are not limited to malfunctions, system failures, software or equipment failures, communication line failures, system access issues, high Internet traffic, security breaches, unauthorized access, system capacity issues or other computer defects and problems.
9.12. The Company does not guarantee, warrant or represent that the Client will be able to use or access the Site at the location or time that they choose or that they will be able to have the ability to access the Site in part or in whole at any particular location. The Company does not represent, guarantee or warrant that the service provided by the Site will be error free and uninterrupted. The Company does not make any guarantee or warranty in regards to the Site and its content.
9.13. The Client agrees to receive emails, phone calls and / or SMS messages from TradeFinancial.co.za with information about the services as well as information and offers about its other products and services.
10.1. The Company gives online search engine operators limited permission to reproduce materials from the Site and use search retrieval applications only for the purposes of making publicly accessible indices of materials in connection with the online search service provided by the operator.
10.2. The Company reserves the right to revoke the above exceptions in specific instances or generally.
10.3. The Client acknowledges that the Company can record telephone conversations with the Client without giving prior warnings. These recordings may be used as evidence if there is a dispute between the Client and the Company. The Company will destroy any transcripts and recordings based on the Company’s standard and currently used destruction policy of three years.
10.4. All communications and notices permitted or required to be provided to a party in this Agreement will be in writing. Notices given to the Client are sent to the contact details which were provided by the Client at the time of registration. These details may be amended by the Client through a written notice provided by the Company. All of the notices and correspondence that are to be sent to the Client are considered to be delivered: at the time of delivery if sent via hand delivery; to the email address provided by the Client or by facsimile; or within five business days if sent via posted mail. All notices and correspondence that are sent from the Client to the Company are considered to be delivered only when the Company actually receives the correspondence and written confirmation is provided.
Jurisdiction and Laws
11.2. The remedies and legal rights of the Company will not prevent or bar the Company from seeking or exercising any of the same.
Entire Amendments and Agreement
12.1. This Agreement as well as all amendments and annexes constitutes the whole Agreement between the Company and the Client and supplants any and all past understandings or agreements between the two parties with respect to the provisions in the Agreement.
12.3. The Company is not bound by any waiver unless by a duly signed written document by the Company. No amendment or waiver of this Agreement may be implied from any dealings between the Client and the Company or from the failure of the Company to enforce its rights.
Assignment of Rights
13.2. All terms in these General Terms and Agreement are not defined and will have meaning assigned by the Glossary of Terms. Other terms that are not defined will have meaning assigned through customary practice in regards to the services and transactions in the Site. To avoid doubt and unless otherwise noted, words that are singular will refer to the plural equivalent and vice versa.
KYC Policy (Know Your Customer)
14.1. In order to verify the integrity of our traders’ information, we require our traders to provide us with detailed anti-corruption due diligence information and in this way, TradeFinancial.co.za is able to work towards preventing identity theft, financial fraud, money laundering as well as terrorist activities.
14.2. Since TradeFinancial.co.za holds a zero-tolerance fraud policy, we have implemented the Know Your Customer policy in order to ensure that we have taken the necessary measures in order to prevent any fraudulent activities. Please be advised that if we suspect any fraudulent activity, this activity will be documented and all related trading accounts with TradeFinancial.co.za will be immediately closed and all funds in these accounts will be forfeited and all funds in these accounts will be forfeited.
15.1. TradeFinancial.co.za aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method.
15.2. When you deposit funds we will require the following documents
A colour copy of your valid passport or ID card (front and back) showing clearly your details, picture and signature.
Colour copies of your credit cards, used to make the deposit (Front side with only the 4 last digits, name and expiry date visible, back side with the CVV covered, showing signature).
A copy of a recent utility bill or bank statement in your name and address no more than 6 months old
A signed purchase history of your online transactions
If you have any questions please don’t hesitate to contact our customer support: [email protected] or our Compliance Department: [email protected]
15.3. When do I need to provide these documents?
We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions to your benefit.
Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades.
Please note that if we will not receive the required documents on file, your pending withdrawals will be cancelled and credited back to your trading account. We will notify you on such event via our system.
15.4. How can I send you these documents?
15.5. How do I know my documents are safe with you?
TradeFinancial.co.za holds the security of documentation at highest priority, and treats all documents it receives with utmost respect and confidentiality. All files we obtain are fully protected using the highest level possible of encryption at every step of the review process.
We thank you for your cooperation in helping us make TradeFinancial.co.za a safer place to trade.
Account Queries and Disputes:
16.1. Queries or disputes can be received via the phone or email. You must tell us as soon as possible about any dispute. The sooner you inform us, the easier it will be to resolve the matter. In the first instance, we recommend that Clients try to resolve disputes through the usual customer service channels at the Company.
16.2. You will be asked to provide full details of your issue (for example the date and time of the disputed trade). The more information you can provide, the easier it will be for the Company to resolve the matter. The person to whom your query or dispute is directed will try to solve the problem as soon as possible but in any event within 14 business days.
16.3. If you are not satisfied with the proposed resolution, the matter can be referred to a Senior Manager at the Company. The Senior Manager will send you an email acknowledging receipt of your complaint, within 14 business days. This acknowledgement will identify the person who will be handling the complaint and explain the complaints handling process and any regulatory rights you may have. The Company will act impartially and attempt to resolve the complaint within one week of the date of the acknowledgement letter.
16.4. Where the complaint cannot be resolved within this two-week period, a more detailed letter will be written to you explaining why the firm is unable to resolve the complaint. The Company may take up to one additional week to resolve the complaint. In the event that the dispute is not resolved within two weeks of investigation, a final determination e-mail will be sent explaining the options you have to pursue the matter further.
16.5. To log an initial complaint Clients are requested to communicate directly with the Compliance Officer of the Company, except in cases where the compliant involves the Compliance Officer, whereby the said complaint shall be handled by an Executive Director of the Company.
The Client may submit complaints through the following options:
Email: [email protected]
Loyalty Store Terms and Conditions
By signing the Loyalty Store Application, you acknowledge that:
17.1. The Loyalty Store is reserved for Clients who have a trading account with the Company.
17.2. The Company shall have sole discretion with regards to the eligibility of any Client and whether or not he shall be able to apply to its Loyalty Store Application.
17.3. The Company reserves the right to amend, vary, extend or discontinue the provision of this Loyalty Store Application at any stage, for any reason according to its sole discretion.
17.4. Under no circumstance, shall the Company be liable to Client or any third parties whatsoever under any contract, strict liability, negligence or other legal or equitable theory, for any direct, indirect, incidental or consequential damages of the Client associated with the provision of this Loyalty Store Application.
17.5. In the event in which the Client shall make a withdrawal of funds prior of reaching * 15 Minimum Turnover Requirement (“Minimum Turnover Requirement”) of his Deposit, and after already having purchased and received the Prize via the Website, the Prize value shall be offset by the Company from the Client’s trading account.
Term and Termination
The term of the Agreement shall be unlimited however Our Company will be allowed to terminate this Agreement at any time by notice to you. As of termination, you shall not be able to carry out new transactions.