These Terms of Service (the “Terms”) govern access to and use of digital services, platforms, applications, and related products operated under the KCM Trade brand (the “Services”) by Kohle Capital Markets Limited (the “Company”, “we”, “us”, or “our”).
By accessing or using the Services, you (“User”, “you”, or “your”) acknowledge that you have read, understood, and agree to be bound by these Terms, together with all policies and disclosures incorporated by reference, including the following documents which form part of the client agreement framework presented at account registration. You are also subject to the Company’s Client Appropriateness Policy, Leverage and Margin Policy, Sanctions Policy, Website Legal Disclaimer, and (where applicable) the Copy Trading Additional Terms:
| Document | Version |
|---|---|
| Client Agreement | v5 |
| Services Agreement | v5 |
| Order Execution Policy | v2 |
| AML Policy | v4 |
| Complaint Handling Procedure | v2 |
| Privacy Policy | v5 |
| Conflict of Interest Policy | v4 |
| Risk Disclosure Statement | v4 |
| Product Specification | v4 |
All documents above are available on the Regulatory Documents page.
1. Scope of Services
The Services provide execution-only access to financial instruments, which may include, without limitation:
- Contracts for Difference (CFDs)
- Foreign exchange (forex) instruments
- Derivative instruments, including options, futures, swaps, and related products
In addition to execution services, the Services may include:
- Copy Trading — the ability to replicate the positions of other traders, provided through Pelican Exchange Limited (copy-trade.io) infrastructure under a separate End-User Licence Agreement. Copy trading is subject to the Copy Trading Additional Terms and Risk Disclosure. Past performance of any copied strategy does not guarantee future results.
- Signals and Market Analysis — market signals, analysis tools, and commentary provided through Acuity Trading. Signals are for informational purposes only and do not constitute investment advice.
- Education Content — financial markets education materials provided for informational purposes only. Nothing in the education content constitutes a personal recommendation or investment advice.
The Services may be made available through websites, mobile applications, application programming interfaces (APIs), and other digital delivery methods.
Nothing in the Services constitutes investment advice, portfolio management, or discretionary trading services.
2. Eligibility and Account Registration
Access to certain features of the Services requires the creation of an account.
By registering for an account, you represent and warrant that:
- You have legal capacity to enter into binding contracts
- You are not prohibited from accessing the Services under applicable laws
- All information provided is accurate, complete, and not misleading
The Company reserves the right to refuse, suspend, or terminate any account at its sole discretion.
3. Identity Verification and Compliance
Users may be required to complete identity verification procedures in accordance with the Company’s AML Policy and applicable laws.
Failure to complete required verification may result in restricted access, suspension, or termination of Services.
4. User Obligations
Users agree to:
- Use the Services in compliance with applicable laws and regulations
- Maintain the confidentiality of account credentials
- Notify the Company promptly of any unauthorised access or security breach
- Refrain from fraudulent, abusive, or unlawful conduct
Users are solely responsible for all activities conducted through their accounts.
5. Prohibited Conduct
Without limiting the foregoing, users must not:
- Engage in market manipulation, spoofing, layering, wash trading, front-running, or any conduct that distorts or is intended to distort market prices or the integrity of the Services
- Use automated scripts, bots, or other software to access or exploit the Services in a manner inconsistent with these Terms or applicable exchange and platform rules
- Abuse latency, technical errors, pricing anomalies, or system vulnerabilities for trading gain
- Facilitate, assist, or enable any third party to breach these Terms
- Use the Services to launder funds, finance terrorism, or engage in any conduct prohibited under applicable AML and sanctions laws
- Impersonate any person, submit false or misleading information, or misrepresent eligibility
- Circumvent any technical, security, or access controls implemented in the Services
The Company reserves the right to immediately suspend or terminate any account where prohibited conduct is suspected, and to reverse, cancel, or void any transactions executed in connection with such conduct, without prejudice to any other remedies available to the Company.
6. Orders, Transactions, and Execution
Orders submitted through the Services are subject to market conditions, system availability, and applicable execution policies.
The Company may act as principal or counterparty to transactions. Execution may involve slippage, re-quotes, partial fills, or delays.
Details regarding order handling and execution are set out in the Company’s Order Execution Policy and the full Order Execution Policy (PDF).
7. Client Money and Segregation
Funds deposited by users are held in accordance with the Company’s client money obligations under the regulations of the Financial Services Commission of Mauritius (FSC Mauritius) applicable to licensed Investment Dealers.
Client funds are maintained in designated client money accounts that are held separately from the Company’s own operational funds. In the event of the Company’s insolvency, client money is not available to the general creditors of the Company, subject to the provisions of applicable law and the terms of the relevant banking arrangements. See the Client Fund Protection page for full details of the Company’s segregation and safeguarding arrangements.
The Company is not a bank or deposit-taking institution and does not guarantee interest on deposited funds unless expressly stated otherwise in applicable documentation.
8. Fees, Charges, and Payments
Users may be subject to fees, charges, spreads, commissions, financing costs, or other costs associated with the Services.
Applicable fees and charges are disclosed through the Services or in related documentation and may be amended from time to time.
9. Risk Acknowledgement
Users acknowledge and accept the risks associated with trading leveraged and derivative instruments, as described in the Company’s Risk Disclosure Statement.
Users understand that losses may exceed initial deposits and that trading is not suitable for all individuals.
10. Technology and Platform Availability
The Services rely on electronic systems and third-party infrastructure, including but not limited to MetaQuotes MT4/MT5 and Leverate for trading platform functionality, FX Back Office (FXBO) for account management, ShuftiPro for identity verification, Pelican Exchange Limited (copy-trade.io) for copy trading, Acuity Trading for signals and education, and Convrs.io for live support.
The Company does not guarantee uninterrupted, error-free, or secure access to the Services and is not responsible for losses arising from system failures, connectivity issues, third-party service outages, or technical disruptions, except as required by law.
11. Intellectual Property
All intellectual property rights in the Services, including software, content, trademarks, and proprietary technology, are owned by or licensed to the Company.
Users are granted a limited, non-exclusive, non-transferable licence to access and use the Services in accordance with these Terms.
12. Suspension and Termination
The Company may suspend or terminate access to the Services, with or without notice, where:
- Required by law or regulation
- A breach of these Terms is suspected or identified
- Security, compliance, or risk concerns arise
Termination does not affect accrued rights or obligations.
13. Limitation of Liability
To the maximum extent permitted by applicable law:
- The Company’s total aggregate liability to any user arising out of or in connection with the Services, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall not exceed the total fees paid by that user to the Company in the three (3) months immediately preceding the event giving rise to the claim, or such lesser amount as may be prescribed by applicable law.
- The Company shall not be liable for any indirect, incidental, consequential, special, exemplary, or punitive damages, including but not limited to loss of profits, loss of revenue, loss of data, loss of opportunity, or loss of goodwill, arising out of or in connection with the Services, even if the Company has been advised of the possibility of such damages.
- The Company shall not be liable for any trading losses, whether or not resulting from the Company’s acts or omissions, including losses arising from execution delays, slippage, market volatility, system outages, force majeure events, or any failure or interruption of a third-party service.
Nothing in these Terms limits or excludes liability for: (a) fraud or fraudulent misrepresentation; (b) death or personal injury caused by negligence; or (c) any other liability that cannot be limited or excluded under applicable law.
14. Indemnity
To the maximum extent permitted by applicable law, users agree to indemnify, defend, and hold harmless the Company and its directors, officers, employees, agents, licensors, and service providers from and against any and all claims, demands, actions, proceedings, losses, damages, liabilities, costs, and expenses (including reasonable legal fees and disbursements) arising out of or in connection with:
- Any breach or alleged breach of these Terms by the user
- Any unlawful, improper, abusive, or negligent use of the Services
- Any violation of applicable laws or regulations by the user
- Any infringement by the user of any third-party rights, including intellectual property rights
- Any false or misleading information submitted by the user
This indemnity obligation survives termination of these Terms.
15. Regulatory and Jurisdictional Matters
The Services are offered subject to regulatory and jurisdictional restrictions.
Users are responsible for ensuring that their use of the Services complies with applicable laws in their jurisdiction.
16. Amendments
The Company may amend these Terms from time to time to reflect changes in:
- Laws or regulations
- Regulatory guidance or platform policies
- Services or operational practices
Amendments take effect upon publication, as indicated by the updated Last Updated date.
17. Governing Law and Jurisdiction
These Terms are governed by and construed in accordance with the laws of the Republic of Mauritius, without regard to its conflict of law principles.
Any dispute, controversy, or claim arising out of or relating to these Terms, or the breach, termination, or invalidity thereof, shall be subject to the exclusive jurisdiction of the courts of the Republic of Mauritius, unless otherwise required by applicable mandatory law in a user’s jurisdiction.
Nothing in this clause prevents the Company from seeking urgent injunctive or other equitable relief before any competent court where necessary to protect its rights.
18. Contact Information
For enquiries relating to these Terms or the Services, please contact:
Kohle Capital Markets Limited
Email: CS@kcmtrade.com
Website: https://www.kcmtrade.com
19. Taxes
Users are solely responsible for determining and discharging all applicable taxes, levies, duties, and charges arising from their use of the Services, including any gains or losses resulting from trading activities. The Company does not provide tax advice and is not responsible for any tax obligations of users. Users should seek independent tax advice as appropriate.
20. Set-Off and Netting
The Company reserves the right to set off, net, combine, or consolidate any amounts owed by a user to the Company against any amounts held on behalf of, or owed to, that user, without prior notice, to the extent permitted by applicable law. In the event of insolvency or the closing of an account, all open positions and obligations may be netted and a single terminal sum determined.
21. Negative Balance Protection
The Company implements negative balance protection measures designed to limit a user’s maximum losses on leveraged positions to the funds available in that user’s account. Accordingly, users will not be required to make payments in excess of their deposited funds in respect of closed leveraged positions under normal market conditions.
This protection may not apply in the event of extreme market conditions, system failures, market gapping, or other exceptional circumstances. The Company reserves the right to modify its negative balance protection policy at any time upon notice.
22. Disclaimer of Warranties
The Services are provided on an “as is” and “as available” basis without warranty of any kind. To the maximum extent permitted by law, the Company expressly disclaims all warranties, whether express, implied, statutory, or otherwise, including but not limited to implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.
The Company does not warrant that: (a) the Services will be uninterrupted, error-free, or secure; (b) any information or data provided through the Services is accurate, complete, or timely; or (c) the Services are free from viruses or other harmful components.
23. Force Majeure
The Company shall not be liable for any failure or delay in performing its obligations under these Terms to the extent that such failure or delay is caused by circumstances beyond the Company’s reasonable control, including but not limited to:
- Acts of God, natural disasters, or extreme weather events
- Acts of government, regulatory action, sanctions, or changes in law
- War, terrorism, civil unrest, or riots
- Cyberattacks, hacking, distributed denial-of-service attacks, or telecommunications failures
- Market suspensions, exchange closures, or trading halts imposed by any exchange, clearing house, or liquidity provider
- Pandemics, epidemics, or public health emergencies
- Power failures or infrastructure outages
In a force majeure event, the Company may suspend the Services, close positions, or take such other actions as it deems reasonably necessary to protect the interests of users and the Company. The Company will use reasonable endeavours to notify users of the existence and nature of a force majeure event.
24. Entire Agreement
These Terms, together with the following documents (collectively, the “Agreement”), constitute the entire agreement between the Company and the user with respect to the Services and supersede all prior or contemporaneous agreements, representations, warranties, and understandings, whether written or oral:
- Client Agreement (v5)
- Services Agreement (v5)
- Order Execution Policy (v2)
- AML Policy (v4)
- Complaint Handling Procedure (v2)
- Privacy Policy (v5)
- Conflict of Interest Policy (v4)
- Risk Disclosure Statement (v4)
- Product Specification (v4)
- Client Appropriateness Policy
- Leverage and Margin Policy
- Sanctions Policy
- Copy Trading Additional Terms and Risk Disclosure (where copy trading services are used)
- Any other policies or disclosures incorporated herein by reference
In the event of any conflict or inconsistency between these Terms and any of the above documents, these Terms shall prevail to the extent of such conflict unless otherwise expressly stated in the relevant document.
25. Severability
If any provision of these Terms is found to be invalid, illegal, or unenforceable under applicable law, that provision shall be deemed modified to the minimum extent necessary to make it valid, legal, and enforceable. If such modification is not possible, the relevant provision shall be deemed deleted. Any modification or deletion shall not affect the validity, legality, or enforceability of the remaining provisions of these Terms.
26. Waiver
No failure or delay by the Company in exercising any right, power, or remedy under these Terms shall operate as a waiver thereof. No single or partial exercise of any right, power, or remedy shall preclude any other or further exercise thereof or the exercise of any other right, power, or remedy.
27. No Third-Party Rights
These Terms are entered into solely between the Company and the user. Nothing in these Terms shall create or be deemed to create any right enforceable by any person who is not a party to these Terms.
28. Electronic Communications
The user consents to receive communications from the Company in electronic form, including by email, in-app notification, or publication on the Company’s website or within the Services. Electronic communications shall be deemed to constitute written communications for all purposes under these Terms. The user agrees that any electronic record of a transaction, notice, or communication shall be admissible as evidence to the same extent as a printed and signed paper original.
By accessing or using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.