Also known as T&C.
It is your contract with the online trading company, and it should be long and detailed.
If it is short and not detailed, and you cannot find the name of the other party, it is a red flag. You should not do business/trading if you find any red flags.
Clicking the T&C “checked box”, can easily get you an online trading account. Therefore, you should review those T&C carefully. If things go wrong, it may assist you legally.
Terms and Conditions with unfair terms may include the following:
- automatic renewal terms binding you to subsequent contracts unless you cancel the contract within a certain time-frame
- terms allowing the broker to unilaterally increase its prices or alter the terms and conditions of the contract
- terms that broadly limit the other party’s liability towards you
- terms that allow the broker to cancel or terminate your agreement without cause
If you think a contract term is unfair, you should ask the broker to amend or remove it.