The Client Agreement between you and Makeba Markets (Pty) Ltd governing your use of our services. Read this together with our Risk Disclosure, Order Execution Policy, Conflicts of Interest Policy, Complaints Handling Policy and Privacy Policy, each of which forms part of this Agreement.
This Client Agreement ("Agreement") is entered into between Makeba Markets (Pty) Ltd ("the Company", "we", "us"), an authorised Financial Services Provider licensed by the Financial Sector Conduct Authority ("FSCA") of South Africa under FSP 53160, and the person or entity who opens and/or maintains a trading account with the Company ("the Client", "you").
By completing the account opening process, ticking the acceptance box, or by depositing funds into or trading on your account, you confirm that you have read, understood, and agree to be bound by this Agreement, together with the Risk Disclosure Statement, Order Execution Policy, Conflicts of Interest Policy, Complaints Handling Policy, and Privacy Policy, each of which forms an integral part of this Agreement.
This Agreement is available in English. Where translated versions are provided for convenience, the English version shall prevail in the event of any inconsistency.
Makeba Markets (Pty) Ltd is licensed as a Category I Financial Services Provider under the Financial Advisory and Intermediary Services Act 37 of 2002 ("FAIS Act"), authorised to provide advice and intermediary services in respect of, inter alia, derivative instruments, bonds, and money market and deposit instruments, as reflected on the Company's licence (FSP 53160).
The Company's authorisation may be independently verified on the FSCA's public register at www.fsca.co.za. Clients are encouraged to verify the Company's licence status prior to trading.
The Company is bound by, and conducts its business in accordance with, the FAIS Act, the General Code of Conduct for Authorised Financial Services Providers and Representatives, the Financial Intelligence Centre Act 38 of 2001 ("FICA"), the Protection of Personal Information Act 4 of 2013 ("POPIA"), and any other applicable South African financial sector law.
Subject to the Client's category and the Company's licence conditions, the Company provides execution-only intermediary services and, where applicable, advice, in relation to derivative instruments (including CFDs on currency pairs, indices, commodities and other underlyings), bonds, and money market and deposit instruments.
Unless expressly agreed in writing, the Company provides its services on an execution-only basis and does not provide investment advice, portfolio management, or a recommendation that any transaction is suitable for the Client's particular circumstances.
The Company reserves the right to restrict, suspend, or decline to offer any product or service to any Client, region, or jurisdiction at its discretion and in accordance with Applicable Regulations.
The Company categorises Clients as retail or, where applicable and upon request supported by the required evidence, professional/elective professional clients, in line with its Client Categorisation Policy. Categorisation affects the level of regulatory protection, disclosure, and risk warnings applied to the Client.
The Client warrants that the information provided during onboarding regarding identity, financial standing, trading experience, and source of funds is true, accurate, and complete, and undertakes to notify the Company promptly of any material change.
Prior to opening an Account, the Client must complete the Company's application process and provide such identification, verification, and source-of-funds documentation as the Company requires to comply with FICA and its internal AML/CTF Policy.
The Company reserves the right to decline an application, delay account activation, or request additional documentation at any time, including after an Account has been opened, and to restrict Account functionality pending satisfactory verification.
Accounts may only be opened by persons who are at least 18 years of age (or the age of majority in their home jurisdiction, if higher) and who have the legal capacity to enter into this Agreement.
Client funds are held separately from the Company's own operational funds, in accordance with the Company's Client Funds and Segregation Policy, and are not used for the Company's own account except as permitted under Applicable Regulations.
During the Company's interim operational phase, Client deposits may be directed to individually named and identifiable segregated collection accounts (virtual IBANs) held in the Client's name, for onward allocation to the Client's trading Account, pending finalisation of the Company's consolidated operating account infrastructure.
The Company does not guarantee any rate of interest on Client funds unless otherwise stated in writing.
The Company will use reasonable endeavours to execute Client orders in accordance with its Order Execution Policy. Execution is subject to prevailing market conditions, liquidity, and connectivity between the Client and the Trading Platform.
Quoted prices are indicative and may change between the time an order is placed and the time it is executed. Orders may be subject to slippage, being execution at a price different from that requested, particularly during periods of high volatility, low liquidity, or around news events.
The Client must maintain sufficient margin in the Account to support open positions. The Company may apply margin calls and, where the Client's margin level falls below the level specified in the Company's trading conditions, may close out some or all open positions ("stop-out") without prior notice to limit further loss. A margin call is triggered when the Account margin level falls to 100%, and open positions may be automatically closed once the margin level falls to 50%, in order of largest loss first.
Positions held open overnight may be subject to financing charges (swaps) as published on the Trading Platform. Where applicable, the Company will adjust Client positions to reflect corporate actions affecting an underlying instrument, acting reasonably and in good faith.
The Company's applicable spreads, commissions, financing rates, and any other charges are set out in the Fees, Charges and Spreads Schedule published on the Company's website, as amended from time to time.
The Company will provide reasonable prior notice of any material change to its fee structure, save where a change is required immediately by market conditions or regulatory requirement.
The Client acknowledges having read and understood the Company's Risk Disclosure Statement and confirms that they understand that trading in leveraged derivative products carries a high level of risk and may not be suitable for all investors, and that they may lose more than their initial investment.
The Company maintains a Conflicts of Interest Policy designed to identify and manage conflicts that may arise in the course of its business, a summary of which is available on the Company's website and in full upon request.
The Company will process the Client's personal information in accordance with POPIA and its Privacy Policy. Client information will not be disclosed to third parties except as necessary to provide the services, comply with Applicable Regulations, or with the Client's consent.
The Company shall not be liable for any failure or delay in performing its obligations where such failure or delay results from circumstances beyond its reasonable control, including but not limited to market disruption, system or communication failures, acts of government or regulatory authorities, or other events of force majeure.
The Company may amend this Agreement and its associated policies from time to time to reflect changes in Applicable Regulations, market practice, or its business. Material changes will be notified to Clients via the Company's website and/or the Client's registered contact details at least 14 days before they take effect, save where an earlier change is required by law or market conditions, and will take effect from the date specified in the notice.
Any complaint should be directed to the Company in accordance with its Complaints Handling Policy. If the Client remains dissatisfied following the Company's internal process, the Client may refer the complaint to the Ombud for Financial Services Providers (FAIS Ombud).
Either party may terminate this Agreement by providing written notice to the other, subject to the settlement of any open positions and outstanding obligations. On termination, open positions will be closed at prevailing market prices and the remaining Account balance, after settlement of all amounts owing, will be returned to the Client via the original source of funds where possible.
The Company may suspend or terminate the Account immediately where required by Applicable Regulations, where it reasonably suspects fraud, money laundering, or a breach of this Agreement, or where continued provision of services would expose the Company to legal or regulatory risk.
Nothing in this Agreement excludes or limits any liability that cannot lawfully be excluded or limited under Applicable Regulations, including liability arising from the Company's gross negligence, wilful default, or fraud.
Subject to the paragraph above, the Company shall not be liable for indirect or consequential losses, or for losses arising from market movements, save where such losses arise directly from the Company's breach of this Agreement.
This Agreement is governed by the laws of the Republic of South Africa. The parties submit to the non-exclusive jurisdiction of the South African courts, without prejudice to the Client's right to refer a complaint to the FAIS Ombud or to any other competent authority in their home jurisdiction where applicable.
The Company may accept clients resident in the European Union, the United Kingdom, and Australia in accordance with its cross-border services disclosures and any applicable exemptions, passporting arrangements, or local regulatory permissions.
Clients resident outside South Africa should refer to the Company's Cross-Border Services Disclosure for details of the specific basis on which services are offered in their jurisdiction, and should be aware that certain protections available under their local regulatory regime may not apply to services provided by a South African-licensed entity.
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
This Agreement, together with the documents incorporated by reference, constitutes the entire agreement between the parties in relation to its subject matter.
Registered address: The Launchpad, 180 Lancaster Road, Gordons Bay, 7140, South Africa. General and compliance enquiries may be sent to info@makebamarkets.com or through our Contact page.