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A GUIDE TO OUR RELATIONSHIP WITH YOU AND
OTHERS
This guide contains important
information about:
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who we are;
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the services and products we offer;
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the costs, remuneration and other
benefits that may be paid to us, our employees or others;
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any associations or relationships we
may have with financial product issuers;
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our internal and external dispute
resolution procedures and how you can access them; and
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how you can contact us.
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We will not provide you with personal
financial product advice. We only provide general financial product
advice. Accordingly, we will not give you a Statement of Advice.
Personal financial product advice is advice that takes into account
one or more of your objectives, financial situation and needs or
advice which could reasonably be regarded as having done so. General
financial product advice is advice which is not personal financial
product advice.
However, you will receive a Product Disclosure Statement (“PDS”)
prepared by us which contains information about the particular
products we offer, including any relevant terms, significant risks
and details of other fees and charges which may apply. This document
will be provided to assist you in making an informed decision about
the products offered by us.
Easy Forex Pty Limited
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AFS Licence: |
246566 |
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ACN: |
107 184 510
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Address:
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L2, 437 St Kilda Road MELBOURNE VIC
3004
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Telephone: |
Call us on 1300 303 908 or
Melbourne (03) 9820 2711
Sydney (02) 9238 0260 |
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Facsimile: |
(03) 9820 8890 |
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WHAT IS THE PURPOSE OF THIS FINANCIAL
SERVICES GUIDE?
27 April 2004
The purpose of this Financial Services Guide (“FSG”) is to ensure
that you receive key information about the type of financial
services being offered by Easy Forex Pty Limited (“Easy Forex”,
“we”, “us” or “our”).
The contents of this FSG have been formulated to ensure that you
receive the information required to make an informed decision about
whether to use the financial services that are offered by Easy
Forex.
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WHO IS EASY FOREX?
Easy Forex provides an online trading
platform, enabling clients to trade in derivatives and foreign
exchange rates over the internet. Easy Forex provides clients with
direct access to our system to enable them to buy and sell currency
rates.
Easy Forex forms part of the Easy Forex Group which currently
operates in Europe, Israel and Asia Pacific. The Easy Forex Group
was founded by a group of bankers, forex and internet experts and
offers traders direct access to the global currency markets.
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WHO IS RESPONSIBLE FOR THE FINANCIAL
SERVICES PROVIDED?
Easy Forex is responsible for the
financial services provided, including the distribution of this FSG.
We hold an AFS Licence issued by the Australian Securities and
Investments Commission (AFS Licence 246566).
Easy Forex is regulated in Australia by the Australian Securities
and Investments Commission and is a member of the Financial Industry
Complaints Scheme in Australia.
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WHO DO WE ACT FOR?
Easy Forex acts as principal and does
not act as a broker or agent. When we receive your instructions and
execute them, we are the party to the other side of the transaction
and the party with whom you are entering a contract.
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HOW CAN YOU GIVE US INSTRUCTIONS?
If you wish to utilise our services,
you can only do so via the internet using our trading platform. Easy
Forex only accepts instructions via the trading platform.
Under very limited circumstances (and only where agreed between us)
we may agree to accept your instructions by either telephone, or if
we have verified your address and signatures, by facsimile or email.
Prior to accepting your instructions, Easy Forex will require you to
acknowledge and accept our Terms and Conditions which sets out the
contractual relationship between Easy Forex and the client and the
obligations of each when accessing and trading on the system.
Easy Forex will maintain accurate records (on a best efforts basis)
of all client orders and trades executed. Easy Forex will provide
you with documentation to confirm the transactions you have
executed. This documentation is provided on line and you can access
your account at any time to view your transactions and account
balance.
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HOW IS MY PERSONAL INFORMATION DEALT
WITH?
We recognise the importance of ensuring
that you have confidence in the way we handle your personal
information and that it is kept private. We have procedures which
include the secure storage of your personal information. All
personal information that Easy Forex collects about you will be
treated in accordance with Easy Forex’s Privacy Policy which can be
found in Easy Forex’s current PDS about the particular products Easy
Forex offers and on Easy Forex’s web site.
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HOW ARE WE REMUNERATED FOR THE SERVICES
WE PROVIDE?
Easy Forex does not charge fees or
commissions for you to enter into foreign exchange products. The
calculation of the price to be paid (or the payout to be received)
for products offered by Easy Forex, at the time the contract is
purchased or sold, will be based on Easy Forex’s best estimate of
market prices and the expected level of interest rates, implied
volatilities and other market conditions during the life of the
financial contract and is based on a complex arithmetic calculation.
The calculation will include a spread in favour of Easy Forex. The
contract prices (or the payout amounts) offered to clients hedging,
trading or speculating on market prices may differ substantially
from prices available in the primary or underlying markets where
contracts are traded. This is due to the spread favouring Easy Forex
in the price calculation. Easy Forex acts as a market maker and not
a broker and makes its earnings from the spreads that are embedded
in the currency rates. Different spreads are used depending on the
value of the transaction. Easy Forex earns its income from the
business spread or margin that we apply to our foreign exchange
products. This is the difference between the rate at which we buy
and sell the financial instrument, and will depend on factors such
as the size of the trade and prevailing market rates. This spread is
incorporated into the rates quoted to you and is not an additional
charge or fee payable by you. Different spreads are used depending
on the value of the transaction.
Where you enter a contract you will be required to pay an initial
margin and may be required to pay additional margin in the event of
adverse market movements against your position to keep your position
open. Such payments are not costs but are funds required by Easy
Forex to cover our risk and as security for the client’s
obligations.
The margin amounts are payable into the Easy Forex client trust
account and are held, used and withdrawn in accordance with the
Corporations Act 2001 requirements and our agreed Terms and
Conditions. All interest that may accrue on the client trust account
is kept by Easy Forex.
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HOW ARE OUR EMPLOYEES REMUNERATED?
Employees are paid a base salary and
receive commission. Commissions are based on the individual
employee’s total clients’ “Net Deposits” with Easy Forex. Net
Deposits is defined as the total deposits minus total withdrawals in
the employee’s clients’ accounts in the relevant period. Commissions
are paid to employees monthly, with quarterly and annual adjustments
where necessary.
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WILL ANYONE BE PAID FOR REFERRING ME TO
YOU?
Easy Forex may pay an introductory fee
or commission or provide other benefits to any person for referring
customers to us in connection with the services and products to
which this FSG relates, and these will be disclosed as required by
law.
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WHAT DO I DO IF I HAVE A COMPLAINT?
EWe want to know about any problems or
concerns you may have with our advice or services so we can take
steps to resolve the issue. We have internal and external dispute
resolution procedures to resolve complaints from clients. A copy of
these procedures may be obtained by contacting us and requesting a
copy.
Initially, all complaints will be handled and investigated
internally. Should you still feel dissatisfied with the outcome, you
have the ability to escalate your concerns to an external body for a
resolution.
If you have a complaint about the financial services provided to
you, please take the following steps:
1. Contact Easy Forex to inform us
about your complaint. You may do this by telephone, facsimile, email
or letter. We will investigate your complaint promptly. We will try
to resolve your complaint quickly and fairly.
2. If you are dissatisfied with the outcome of our
investigation, you have the right to complain to the Financial
Industry Complaints Service Limited who may be contacted on 1300 780
808 or in writing at P.O. Box 579, Collins Street West, Melbourne,
VIC 8007. Easy Forex is a member of this complaints resolution
scheme and our membership number is F-3902.
3. You can contact the Australian Securities and Investments
Commission (ASIC) on 1300 300 630. This is a Freecall Infoline. This
is another alternative that you may use to make a complaint and
obtain information about your rights.
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WHO DO WE ACT FOR?
Easy Forex acts as principal and does
not act as a broker or agent. When we receive your instructions and
execute them, we are the party to the other side of the transaction
and the party with whom you are entering a contract.
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HOW DO YOU CONTACT US?
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Telephone: |
Call us on 1300 303 908 or
Melbourne (03) 9820 2711
Sydney (02) 9238 0260 |
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Mail or Fax: |
Write to us
at L2, 437 St Kilda Road, Melbourne, VIC 3004 or
send us a fax to (03) 9820 8890.
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Email: |
Send us an email to
pacific@easy-forex.com |
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In person: |
Visit our offices in -
Melbourne at L2, 437 St Kilda Road,
Melbourne, VIC or in
Sydney at L13 Suite 1302, 109 Pitt
St. Sydney 2000. |
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forex™
