FXLIVE Insurance: terms and conditions
1. Program Definition
FXLIVE Insurance is an optional service designed to partially protect the client’s capital against losses during a specified period, according to the conditions established at the time of purchase.
2. Validity and Renewal
The insurance is valid only for the period indicated in the purchased program: [LITEFX, PROFX, MAXFX].
Once the validity period expires, the insurance does not automatically renew, cannot be extended, and does not generate refunds or modifications.
The client can purchase a new insurance plan once the previous one has ended.
3. Insurance Activation
The insurance can be activated only once during its validity period.
Activation should occur after the client has recorded a loss. It is recommended to activate the insurance when the loss is equal to or greater than the protected capital to maximize the benefit.
If activated before reaching the recommended minimum loss, the insurance will cover 100% of the loss at the moment of activation and will be immediately deactivated after the refund.
4. Coverage and Compensation
The covered amount corresponds to the insured capital percentage (10% to 50%) of the account’s initial balance at the time of purchase.
Upon valid activation, the client will receive a refund equivalent to the protected amount, credited as Balance or internal adjustment in the trading account.
Coverage does not apply to unrealized profits, bonuses, swaps, commissions, or losses caused by violations of trading policies or misuse of leverage.
5. Restrictions
a. Only one (1) active insurance is allowed per trading account at any time. b. It cannot be combined with other compensation or refund programs. c. Insurance cannot be obtained or applied while there are open trades.
FXLIVE reserves the right to verify the trading history before approving the insurance activation to ensure that losses do not result from abusive or manipulative practices, including:
Cross hedging
Internal arbitrage
Extreme latency scalping
High-frequency copy-trading
d. Insurance is only available for accounts in eligible trading groups:
ECN Pro
Zero Commission
Swap Free
Bonuses or credits do not apply to the insurance, only the account’s current balance.
6. Refunds and Limitations
a. Once the insurance is activated and the insured amount is refunded, the insurance is fully consumed and has no further effect. b. The benefit cannot exceed the protected amount, regardless of the total loss. c. Fees or commissions paid for the insurance are non-refundable under any circumstances, even if the insurance was not activated during its validity.
7. Insurance Plans and Trading Rules
Prohibited trading rules include:
Exposing the account above +50%
High-Frequency Trading (HFT)
Group trading with opposite positions
Arbitrage of any kind
Tick scalping
Taking advantage of system errors, bugs, or vulnerabilities
News trading within 5 minutes before or after major events
Eligible trading groups:
ECN Pro
Zero Commission
Swap Free
Trading assets covered:
FOREX: EUR, GBP, CAD, NZD
METALS: XAU, XAG, XPD, XPT
INDICES: SP500, US30, DAX, NDX, IBX35, NIKJPY
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