We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.
Hide

Terms and Conditions

Halo Terms & Conditions
 
1.       Definitions – the meaning of certain words and expressions in these Terms

1.1       “Agreement" means these Terms together with the Terms of Use and policies shown on Our Website and (with regard to Online Trades) the guidelines and requirements shown on Halo Online.

"Application Form" means the registration document that You need to complete before Trading.

"Authorised Person" means any person whom We reasonably believe to be authorised to give any Order or instruction to Us by or on behalf of You.

"Beneficiary Account" means Your or any third party's bank account into which You instruct Us to transfer the Trade Proceeds.

"Business Day" means any day when the clearing banks in the City of London are open for business.

"Charges" has the meaning given to it in clause 5.7.

"Client Account" means the bank account nominated by Us into which You transfer Your Sale Currency and any Margin, and into which We will transfer Your Trade Proceeds prior to onward dispatch to Your Beneficiary Account.

“Close Out” or “Closing Out” means, in relation to an Order or Trade, to unwind, cancel or otherwise terminate.

"Decrease" means a change in the relative values of the Settlement Currency and Purchase Currency such that were the Margin payable calculated on any day between the Trade date and the Value Date, the required Margin would be greater than the actual Margin paid by You.

“Draw Down” means the process of bringing forward the Value Date of an existing Trade in order to release part or all of the Trade Proceeds ahead of the originally agreed Value Date.

“FCA” means the Financial Conduct Authority.

"Forward Trade" means a transaction where the Value Date is later than two Business Days after the date when the Trade was agreed.

“FX” means foreign exchange.

“Halo” means Halo Financial Limited, a company incorporated in England and Wales (registered number 5155787) whose head office is at Studio 3, Battersea Studios 2, 82 Silverthorne Road, London SW8 3HE. See also “We, Us and Our.”

“Halo Online” means the online foreign exchange and payments system provided by Halo, accessible from Our Website.

“HMRC” means Her Majesty’s Revenue & Customs.

“Limit Order” means an Order where You ask Us to buy or sell foreign currency when the foreign exchange rate reaches a level that You specify, where that specified rate would be more favourable to You than the current market rate at the time You place the Limit Order.

“Manifest Error” means a manifest or obvious misquote of the purchase or sale price quoted to You, including a misquote based on a published price source on which We have relied in connection with the Trade, having regard to the market conditions at the time the Order was received.

"Margin" means the deposit payment that We may ask You to pay Us against Forward Contracts.

"Margin Call" has the meaning given to it in clause 5.5.

“Maximum Execution Time” means the end of the next business day following the agreed Value Date.

"Money Transfer" has the meaning given to it in clause 12.1.           

"Offline Order" means an Order other than an Online Order.

“One Cancels the Other” or “OCO” means the combination of a Stop Loss Order with a Limit Order such that if either is triggered, the other is automatically cancelled in order to prevent a possible doubling of the Trade.

"Online Order" means an Order placed by or on behalf of You via Halo Online.

"Order" means Your request for Us to provide Our Services to You in accordance with our quotation to you, including any charges specified in such quotation.

“Payment Service” means Our remittance of money to Your nominated Beneficiary Account.

“Purchase Currency” means the currency that You purchase from Us and that We sell to You.

"Regulations" means the Payment Services Regulations 2017.

“Rollover” or “Roll Over” means the process of extending the Value Date for part or all of an existing Trade.

"Same Day Spot Trade" means a Spot Trade where the Value Date is the same Business Day as the date when the Trade is agreed.

"Service" means the making of a Trade on Your behalf in accordance with the Trade Confirmation.

"Settlement Currency" means the currency that You pay to Us as set out in the Trade Confirmation.

"Spot Trade" means a transaction where the Value Date is no more than two Business Days after the date when the Trade was agreed.

“Spread” means the difference between the exchange rate obtained by Us from Our banking counterparty and the exchange rate that we offer to You.

“Stop Loss Order” means an Order where You ask Us to buy or sell foreign currency when the foreign exchange rate reaches a level that You specify, where that specified rate would be less favourable to You than the current market rate at the time You place the Stop Loss Order.

"Terms" means these terms and conditions, which may be varied by Us from time to time and which therefore mean the version applicable on the date of Our quotation to You.

“TFN” means Trading Facility Number.

"Trade" means any transaction that We and You enter into to purchase and deliver currency including, without limitation, Spot Contracts or Forward Contracts.

"Trade Confirmation" means the written document that We provide to You detailing the Service that You ordered. 

“Trade Date” means the date on which the Trade is agreed between You and Us.

"Trade Proceeds” means any currency and other monies to which You are entitled following settlement of the Trade.

“Trading Facility Number” or “TFN” means your unique client reference number, which is provided to You upon opening Your account with Us and which will be shown on all  contract notes relating to Your Trades.

“Transaction Reference Number” or “TRN” means the reference number that we apply to any particular Trade, and which is shown on all relevant contract notes.

“TRN” means Transaction Reference Number.

"Unauthorised Money Transfer" has the meaning given to it in clause 12.3.

"Value Date" means the date on which the Trade matures.

“Website” means www.halofinancial.com

"We, Us and Our" means Halo. Our telephone number is 0207 350 5470 and our email address is: help@halofinancial.com .

"Writing" or “Written” includes letter, fax and email but not telephone or other verbal conversations.

 "You and Yours" means You, Our client, as identified on the Application Form.

1.2      In these Terms, where appropriate, words denoting the singular shall include the plural and vice versa; references to persons shall include firms, companies, and other organisations and vice versa; references to any statutory provisions shall include them as amended or re-enacted from time to time; and words such as "include" or "including" are to be construed without limiting the generality of the preceding words.
 
2.        How do You request a quotation and place an Order?

2.1      We agree to accept in Writing or verbally, Orders placed by You in Writing or verbally. Each Order will be subject to these Terms.   
2.2       The procedure for Online Orders is set out under Clause 10. For Offline Orders, You or an Authorised Person may contact us by telephone or email to request a quotation for a Trade. We may provide You with a relevant non-binding foreign exchange quotation and details of charges. You or an Authorised Person may use such quotation to place an Offline Order by telephone or email. Should We accept such an Order, at that point a legal contract will exist to buy or sell the relevant foreign currency in the specified amount at the quoted foreign exchange rate for the specified Value Date and subject to these Terms and You cannot cancel, rescind or amend it without Our express written consent.
2.3      We are not obliged to accept an Order from You and reserve the right to refuse any Order at Our discretion and shall have no liability whatsoever to You as a result of Our refusal to accept an Order.
2.4      Each Order is a separate Agreement, which will not come into force until the Order has been agreed and confirmed either verbally or in Writing by Us to You.
2.5      The standard consumer right to cancel a distance contract within a certain period does not exist in this case because each Order relates to exchange rates whose market value may fluctuate for reasons beyond Our control during any such theoretical cancellation period (The Financial Services (Distance Marketing) Regulations 2004). 
Accordingly, once We have received an Order (whether Offline or Online) from or on behalf of You it cannot be rescinded, Closed Out, withdrawn or amended without Our express consent in Writing; and where We give such consent, We may add a Spread which will be in line with the Spread on your Order and You will be liable for this and for any charges that we may reasonably apply.
2.6       Whilst We may accept verbal instructions for an Order, We reserve the right to require Written confirmation of such prior to acting.
2.7      You will provide Us with a specimen signature list, where appropriate, to enable Us to authenticate any instruction or Order that You may give.
2.8      You will notify Us in writing in advance of Your Beneficiary Account including the full account name, account number/IBAN and any other relevant beneficiary bank information such as SWIFT codes, sort/branch codes and national clearing codes together with any other information that We may request from You in order to process any payment. Any lack of information may delay or prevent Us from making payment.   
2.9       You may change the details of Your Beneficiary Account by notifying Us in Writing, provided that such notice is received by Us not later than 12:00 (noon) UK time on the Business Day preceding the Value Date. We shall make reasonable endeavours to incorporate any such changes prior to making payment but We cannot guarantee this and if We have already initiated our payment procedure it may be too late for Us to change the Beneficiary details in time.
2.10    Your instruction to Us to make payment to Your nominated Beneficiary Account shall constitute and shall be treated by Us as your consent and authorisation for Us to perform that Payment Service.
2.11    Any charges, transfer fees or other costs or expenses specified in Our quotation shall assume, unless otherwise specified, that there will be a single payment to a single Beneficiary Account. Should you wish to make more than one payment, we may charge additional  transfer fees for each additional payment to a Beneficiary Account, whether to the same or to other Beneficiary Accounts.
2.12    We buy and sell currency for non-speculative purposes. This means that We will not trade with You if You are seeking to enter into a foreign exchange transaction as an investment or to profit by pure speculation on foreign exchange movements.
2.13    All information that You supply to Us that We require to perform and provide Our Service to You must be true and accurate and You will not withhold or omit any information that would render these details false or inaccurate in any material respect.
2.14    Should any information that You have supplied change, by error or otherwise, it is Your responsibility to notify Us immediately.
2.15    In completing the Application Form and in requesting to Use Our Service, You warrant to Us that:
2.15.1   You lawfully have power and authority to make this application and to perform under these Terms and have full capacity to place an Order.
2.15.2   You are acting as a principal for Your own account and are not operating as an agent for any third party whose identity has not been disclosed to Us.
2.15.3   You are authorised and have approval as principal to make any payments having placed an Order.
2.15.4   All funds held as security against Your obligations are and will remain beneficially owned by You and You warrant not to create any charge or other encumbrance over or in respect of such money or assets.
2.15.5   Your Order is in relation to Your genuine payment requirements only and is for non-speculative purposes.
2.15.6   You will take delivery of the Trade Proceeds into Your Beneficiary Account on or after the Value Date following payment in full of cleared funds of Your Order.
2.15.7   You shall rely solely on Your own judgement when undertaking an Order and you accept that whilst We may provide You with information, We will not provide You with any investment or other advice including on the merits or likely consequences of your Order.

Any decision that You make to enter into a Trade is made on Your judgement alone. It is Your responsibility to familiarise Yourself with the foreign exchange products or services that You are buying, and We will assume that You have done so.
 
3.       Our Service – what happens after You place an Order

3.1      We will, at such times as We may agree, enter into Trades with You relating to either Spot or Forward currency transactions that provide in each case for delivery of currency. You agree to undertake and pay for the currency in accordance with the date or dates and amounts specified in the relevant Trade Confirmation and to take delivery of the Trade Proceeds on the Value Date and in the event that We call for further funds You shall pay over these funds when We specify.  
3.2       We act as principal and not as Your agent, and the FX rates included in our quotation to you and in our Trades consequently include a Spread.
3.3       (i)  You will provide Us in advance by electronic/wire funds transfer with the Settlement Currency in full in cleared funds including any fees and expenses that We have included in Our quotation to You and net of any transfer costs charged by Your bank.
(ii)  In order that We can identify the payment when we receive it and thereby prevent delays, Your transfer instruction must include Your TFN (Trading Facility Number) and (where already notified to You) the TRN (Transaction Reference Number).
3.4       As long as:
(i) You have provided Us in advance with the Settlement Currency in full in cleared funds including any fees and expenses that We have included in our quotation to You; and
(ii) You have provided Us with all of the information that We require to complete the Trade (including  Your TFN and TRN) and to make payment to the Beneficiary’s bank account; and
(iii) You have provided Us, in our sole opinion, with sufficient information to comply with all relevant regulations;

We shall pay the Trade Proceeds to Your Beneficiary Account within the Maximum Execution Time although we will use our reasonable endeavours to do so as quickly as possible and normally by the end of the business day on the Value Date.

3.5       With Our agreement You may Draw Down or Roll Over an open Forward Contract in full or in part at any time up until its Value Date. This may affect the exchange rate and therefore the amount payable by or to You and we will advise You of such changes before executing such an instruction from You.
3.6       We will not be bound by any quotation that We have offered to You where it is reasonably determined by Us that there is a Manifest Error in the purchase or sale price that we have quoted.
3.7       Where we accept a Limit Order or a Stop Loss Order, We do not guarantee that We will achieve the relevant exchange rate as this is dependent on market conditions. You acknowledge that the exchange rate that We are able to offer to You includes the addition or subtraction of Our Spread.
3.8       If We need any information from You (for example, for any Anti-Money-Laundering questions), We will telephone You on the contact number that You provided to Us when You registered as a client. For Your own security purposes, We will ask You to telephone Us back. You must not do so using any ‘call-back’ facility on Your telephone, but instead telephone Us on Our office landline. When You do so, We will ask You only partial security information in order to prove Your identity. Note that We will never ask You for Your full security details. Should anybody ever ask You for such details You should terminate the call immediately, then telephone Us on our landline to notify Us.
 
4.          How Your Order is confirmed and documented

4.1      Confirmation of Your Order will take the form of a Trade Confirmation. We will send You a Trade Confirmation in respect of each Trade and this shall be irrefutable evidence of the Agreement formed between Us and You. The Trade Confirmation will not prejudice Your or Our rights and obligations under an Order.
4.2      For the purposes of good practice, the Trade Confirmation will be sent to You after Our execution of the Trade but, whether sent to You or not, this will not alter the fact that in providing Us with Your verbal or Written Order You have entered into a legally binding and enforceable Agreement.
4.3      You are required to check the Trade Confirmation at the time of receipt and give Us immediate notice if You consider that the details of the Trade Confirmation are incorrect. Unless We receive from You notification of any errors or omissions within 24 hours of receipt, Your Trade Confirmation will be deemed correct in all respects.
4.4      By making payment to Us, You are acknowledging that Your Order is correct.
4.5      We will send documentation to You by hand, pre-paid first class post, by fax or by email to Your last known address, fax number or email address as provided by You. Any document or other communication will be deemed to have been served on and received by You a) if sent by personal delivery, upon delivery at the address of the relevant party b) if sent by first class post, two Business Days after the date of posting within the UK and five Business Days internationally c) if sent by facsimile or email, the day of dispatch. 4.6            We shall notify You when payment has been made to Your Beneficiary Account.
 
5.       What You have to pay; When You have to pay it; How to pay; and interest on account balances

5.1       Upon entering into a:
 5.1.1   Spot Trade, You shall pay in full the Settlement Currency plus any applicable Charges in cleared funds to be received in Our designated Client Account within two Business Days (or on such date as You and We agree) and no later than 12.00pm on the  Value Date.
5.1.2   Same Day Spot Trade, You shall pay in full the Settlement Currency plus any applicable Charges in cleared funds to be received in Our designated Client Account no later than 12.00pm on the same Business Day as Your Order, unless We otherwise direct.
5.1.3   Forward Trade, You shall pay Margin equal to 10% of the face value of the Settlement Currency, or such other percentage of the value of the Settlement Currency as We may direct in advance, plus any applicable Charges, in cleared funds to be received in Our designated Client Account no later than 12.00pm on the second Business Day following Your Order. You shall pay any outstanding balance of the Settlement Currency in cleared funds to be received in Our designated Client Account no later than one Business Day preceding the Value Date of the Forward Trade or upon such dates as We may direct from time to time.
5.2      We will not make any payments of any Trade Proceeds to You or on Your behalf until We have received the Settlement Currency in full in cleared funds into Our designated Client Account.
5.3      All payments that are due from You to Us under these Terms shall be made in full without any set off, counter-claim, deductions or withholding whatsoever.
5.4      Failure to transfer funds to Us in accordance with these Terms or the late arrival of Your onward payment details or incorrectly and inaccurately completed outbound payment details could delay the delivery of the Trade Proceeds to Your Beneficiary Account and as such We accept no responsibility nor liability for any losses, costs, charges or expenses that You may incur. In this regard, Your attention is drawn to the fact that banks have specific cut off times for the receipt and dispatch of electronic payments.
5.5      In the event of a Decrease as determined by Us in accordance with our ordinary valuation principles or in the event that We, in Our absolute discretion, believe that Our risk in relation to any Trade increases, due to fluctuations in exchange rates or otherwise, We reserve the right to require You to pay Us such additional Margin ("Margin Call") as We may reasonably require. Following a Margin Call, You shall pay the requested Margin pursuant to the Margin Call, to Us in cleared funds by 5.00pm the following Business Day.
5.6       You shall not be entitled to any interest on any Margin or on any other balance on Your account with us.
5.7      We may charge You for any transfer fees, taxes or other reasonable costs or expenses (including administration fees in relation to the variation of the Value Date) in connection with a Trade, these Terms and/or any Agreement ("Charges") provided that We notify You of such Charges in our quotation to You (for the initial Trade) or in advance of executing Your instructions to Roll Over or Draw Down against a Trade, as appropriate.
5.8       You may not, under any circumstances, deposit cash (notes and coins) into any of our bank accounts and should you do so, we shall not proceed with any Order relating to such cash deposits and You will be liable for any bank charges involved or incurred in retrieving Your cash.
 
 
6.       Set Off and Interest Deductions and offsets that We may make; what happens to Your Margin; what happens if You don’t meet Your obligations on time

6.1      We may deduct from any payments that We make to You such amounts as We may be required by law to deduct in respect of any taxation liabilities, bank or other charges that We may incur.
6.2      Any default on Your obligations, as described in clause 5 of these Terms will entitle Us to terminate the relevant Trade, without notice, by its closing out or unwinding and in this event You shall fully indemnify Us against any losses, costs, charges or expenses which We may incur.
6.3      The Margin shall vest automatically in Us in any of the following situations:
6.3.1   On the Value Date, as part payment of Your Forward Trade;
6.3.2   If You are not able to comply with or have defaulted under these Terms;
6.3.3   In the occurrence set out in clause 7.1.4.
6.4      Should We incur any liability, or are exposed to any risk (as We in Our absolute discretion decide) in respect of any Trade or should You be unable to pay Your debts, fail to comply with or default on these Terms, then We have the right to set off all funds You have provided, (including the conversion of any currency at the exchange rates that are available to us at the time of conversion) whether Margin or otherwise, under Our Agreement, together with any charges or deductions under clause 7.4. Should any balance be left, We will return this to You.
6.5      For late payment of any sum that You are requested to make under these Terms, We reserve the right to charge You interest (after as well as before judgement) calculated on a daily basis at a rate of five per cent per annum over the unauthorised overdraft rate from time to time of Barclays Bank.
 
7.       Our rights to terminate Your Trade

7.1      We shall have the right to terminate any Trade, in full or part, irrespective of whether We have issued a Trade Confirmation or have received Your funds, without prior notice or further liability to You upon or at any time after the happening of any of the following circumstances:
7.1.1   You fail to make any payment in connection with a Service when due and in accordance with these Terms.
7.1.2   You default under the Terms or fail to comply with Your obligations to Us in respect of a Trade or have defaulted against any statute or regulation.
7.1.3   It becomes or may become unlawful for Us to maintain or give effect to all or any of the obligations under these Terms or otherwise to carry on its business or if We or You are requested to close out a Trade (or any part thereof) by any regulatory authority whether or not the request is legally binding.
7.1.4   In the event that You suspend payment of Your debts, are declared bankrupt, make any composition or arrangement with Your creditors, a receiver is appointed or a similar bankruptcy or insolvency event occurs in relation to some or all of Your assets or if You cease or threaten to cease to carry on all or a part of Your business;
7.1.5   You die or become of unsound mind or suffer from a mental disorder and are admitted to hospital in pursuance of an application for treatment under the Mental Health Act 1983;
7.1.6   Anything analogous to any of the circumstances specified above occurs under the laws of any applicable jurisdiction; or
7.1.7   We consider it necessary or desirable to do so for Our own protection.
7.2      You shall give Us immediate Written notice if You become aware of the occurrence of any circumstance referred to in this clause 7.
7.3      After termination of a duly accepted Trade under this clause 7, We shall inform You as soon as We can.
7.4       In the event that We exercise Our right under clause 7.1 to terminate any Trade, We may at Our discretion charge You with any or all of the costs, expenses and losses (together with interest on such sums at the rate referred to in clause 6.5, less any set-off referred to in clause 6.4) that We may incur as a result of such termination, including the actual or hypothetical costs of unwinding any hedging arrangements relating to the Trade.
7.5       In the event that any cheque or other method of payment made or issued by You is dishonoured or not met for any reason, We may levy an administration charge, which will become payable by You in addition to any other sums due under these Terms.
 
8.       Indemnity and Liability

8.1      This clause 8 sets out Our and Your entire liability to each other in respect of any losses (whether direct or indirect), costs, expenses (including legal fees), damages, taxes, charges, claims for consequential compensation, commissions or any other liability whatsoever incurred by either You or Us and whether caused by Our negligence, Our employees, agents or otherwise and Our limitation and exclusion of liability is set on the basis that You are aware of the volatility of the foreign currency market.
8.2      We shall not be liable to You for the non-performance of Our obligations or Our failure to execute Our Service in accordance with Your instruction by reason of any cause beyond Our reasonable control including, without limitation, the effects or consequences of delays where We believe that we need to make further inquiry of You in relation to Your instruction but we are unable to contact You after making reasonable efforts to do so.
8.3      We shall not be liable to You for any losses that occur as a consequence of any currency fluctuation between the Trade Confirmation and the Value Date or Your non-compliance with clauses 2.8 and 2.9 above.
8.4      Except as set out in clause 8.2, if We fail to comply with these Terms, Our maximum and only liability to You shall be to pay to You the Trade Proceeds. In the unlikely event that We pay You the Trade Proceeds after the Maximum Execution Time, Our sole liability to You will be the payment of interest on the Trade Proceeds at a rate of five per cent per annum over the base rate of the Bank of England  (or, if We in Our sole judgement consider it more appropriate, over the official rate of the central bank of the country that issues the currency in which such sum is denominated, or of the European Central Bank if in Euros) from the Maximum Execution Time to the date We pay You the Trade Proceeds. The foregoing provisions apply howsoever any relevant loss is caused, including where such loss is caused because of negligence.
8.5      We will not be liable for any losses (other than those stated in clause 8.4 above) that You may suffer by virtue of non-payment or late payment of the Trade Proceeds caused by Us.
 8.6      We will not be liable for any losses or delays caused by the bank that holds Your Beneficiary Account in making funds available to You or to the beneficiary of Your Beneficiary Account (including any failure of such bank to process the payment correctly) or, where an intermediary or correspondent bank is involved in a payment to your Beneficiary Account, any delays caused by or charges or fees deducted by such bank.
8.7      However, nothing in these Terms is intended to exclude or limit Our liability in any way for any matter for which it would be illegal or unlawful for Us to exclude or attempt to exclude Our liability, including death or personal injury caused by Our negligence or fraud.8.8
8.8       You will indemnify Us and keep Us indemnified against all liabilities that We incur or suffer in the proper performance of Our Service or the enforcement of Our rights hereunder and, in particular, without prejudice to the generality of such indemnity, against all amounts that We may certify to be necessary to compensate Us for all liabilities that We sustain or incur (including Our loss of profits and any loss or expense that We may suffer or incur on taking such action as We in Our absolute discretion consider necessary or appropriate in the circumstances to cover, reduce or eliminate Our exposure in respect of any contracts where You fail to honour Your obligations hereunder) as a result of:
8.8.1   Your failure to pay any sum to Us under these Terms when due or any default of any other of these Terms;
8.8.2   Us doing and taking all and any actions and steps whatsoever to carry out the terms of any verbal or Written instruction from You or Authorised Persons or purporting to be from You or Authorised Persons for such purpose pursuant to and in accordance with clause 3 above;
8.8.3   Us exercising Our rights as described under these Terms to close out all or part of any Trade and in such event We will have the right, as an alternative to Our right to seek an indemnity from You, to set-off any monies that You owe Us in respect of any Service, against any of Your monies in whatever currency that We may be holding.
8.9       Any action that We may perform in good faith as a consequence of instructions that We may receive from unauthorised persons purporting to be You or to be Authorised Persons, resulting from a breach or disclosure of Your security details.
8.10    The indemnity provided under this clause 8 shall survive termination of any Order or Trade made under these Terms.
 
9.       How We comply with Anti-Money Laundering regulations and manage suspected financial crime

9.1      With regard to Your Order or Trade, You agree to acknowledge and adhere to all applicable Anti-Money Laundering regulations and You warrant that You will, on request, provide Us with all such information and documentation that We consider to be necessary or desirable to fulfil Our obligations under applicable law, rule or regulation applicable at that time.
9.2      You warrant that the information provided on the Application Form and in relation to Your Order is accurate and that the subsequent transfer of funds will not constitute a breach of any Anti-Money Laundering regulations.
9.3      In the event that You breach Anti-Money Laundering regulations You irrevocably agree that We may retain any monies (which shall not bear interest against Us) that We may hold pursuant to these Terms and that, or following a request by any legal or regulatory authority, We will not be obliged to continue providing Our Service to You.
9.4       If We need to speak with You about any concerns or security questions, We will call You on Your contact telephone number and will verify Your identity with partial security questions, as described in Clause 3.8 herein. 
 
10.     Using Halo Online, our online trading system

10.1    You or an Authorised Person may use Halo Online in order to obtain quotations, to place Online Orders and to specify Your Beneficiary Accounts. Upon placing an Online Order a legal contract will exist to buy or sell the relevant foreign currency in the specified amount at the quoted foreign exchange rate for the specified Value Date and subject to these Terms and You cannot cancel, rescind or amend it without Our express written consent.
10.2    You are responsible for:
10.2.1   The accuracy and truthfulness of any information that You record on Your Application Form.
10.2.2   Maintaining the security and secrecy of Your log-in and password details.

We will never contact You to confirm Your security details in full. Should you at any time receive any communication purporting to be from Us that asks you to confirm or to submit Your full security details, You should regard such communication as fraudulent and not from Us. You should ignore it and should report it to Us by separate communication.
 
10.2.3   Notifying us immediately if for any reason you suspect that your personal data or log-in details have been compromised or that any unauthorised person or third party may have gained any access to such details.
10.2.4 The adequacy of Your computer hardware and operating software to access Halo Online and to perform online transactions thereon.
10.3    In order to minimise the risk of fraud, other than the initial link that We may email to You in order to complete and verify Your online registration, You should always access Halo Online via Our website, www.halofinancial.com, and never in response to an email or by clicking on any purported internet link contained within any email, even if such link may appear to come from or to be directed to Our website.
10.4    Whilst we endeavour to maintain high levels of availability, we cannot guarantee an uninterrupted, continuous or error-free online service.
10.5    We may suspend Halo Online, and/or your personal access to it, at any time without prior warning or notice without liability to You.
10.6    We may at any time change the minimum computer hardware or software specification required to access Halo Online, and/or make operational changes to the services currently available. We will notify You of any such changes either by placing a notice on Halo Online or on Our website or by emailing You.
10.7    Anti-Money Laundering: We may delay, decline, reverse or refuse any transaction that we may reasonably believe to be unlawful or for which we believe that we need further verification or validation.            
10.8   We will not be liable to You for: 
10.8.1 Any system downtime, delays or unavailability.
10.8.2 Any inability by You to access Halo Online, howsoever caused.
10.8.3 Phishing or attempt by any third party to obtain details from You of Your personal details on Halo Online including without limitation Your log-in or password details.
10.8.4 Any losses to You of whatever nature and howsoever caused arising from or as a consequence of any occurrence under this Article 10 or otherwise from using or attempting to use or register on Halo Online.
10.9    All intellectual property in Halo Online, including copyright to the Website, shall remain vested at all times in Halo. You are not permitted to reproduce any parts of the Website, create any derivative works from it or incorporate any part of it into any other website, publications or otherwise, and Your use of the Website is subject to the conditions contained therein and as updated from time to time. 
 
11.     How We protect and may use Your personal data

11.1    Any personal information or data that You provide to Us in connection with Your application to use Our Service for the purpose of entering into or performing the contract between Us is protected by the Data Protection Act 1998 and is obtained to enable Us to prevent or detect fraud and to assess the risk of performing Our Service (including conducting credit searches) and to enable Us to exercise or enforce Our rights under the Terms if necessary. Except as otherwise specified in this Clause 11, this information will only be divulged to third parties where We are legally obliged to do so.
11.2    We may use Your contact and other details from Your Application Form or from Our records of Our dealings with You to obtain Your views on Our products and services and to identify any of Our products and services, and those of Our strategic partners, which We believe may interest You. We may also share this information (but not Your bank details) with these organisations so that We or they may contact You by letter, telephone, email and other reasonable electronic methods, with news and promotional information about sectors associated with Our FX products and services such as (without limitation) property development and related services, such as estate agency, legal or financial advice and planning, and international removals. By submitting Your Application Form You agree that We may use Your information in this way and You consent to the transmittal of Your data outside of the EU/EEA, unless You have indicated on Your Application Form that You do not agree to this, or You subsequently write to Us requesting Us to stop.
11.3    If You have been introduced to Us by a third party, We may provide them with personal data (but not Your bank details) relating to any of Your contracts in which they are interested by virtue of Our agreements with them.
 
12.     How we comply with the Payment Services Regulations 2017

12.1    This clause applies to any money transfers by Us on Your behalf to which the Regulations apply ("Money Transfer"). The Regulations apply where either the sender or the recipient of the Money Transfer is located within the European Economic Area ("EEA"). Payment Services provided by Us within the EEA, and the UK end of a Payment Service where the Beneficiary is outside the EEA, are covered by the Regulations.  The EEA includes all member states of the European Union, together with Iceland, Liechtenstein and Norway.
12.2    Once a Trade has been completed in accordance with these Terms, We cannot retain the Trade Proceeds unduly in Your Client Account and will transfer the Trade Proceeds to Your Beneficiary Account.
12.3    We may be liable to You under the Regulations if We perform a Money Transfer that You did not authorise Us to perform ("Unauthorised Money Transfer"). Where You believe that We may have performed an Unauthorised Money Transfer, You must notify Us as soon as possible and in any event not later than 13 months after the date on which the Unauthorised Money Transfer was made. Provided that We have received such notice in accordance with these Terms and the Regulations and provided also that the Money Transfer was in fact unauthorised, We will immediately refund to You the amount of the Unauthorised Money Transfer in full.
12.4    Please be aware that receipt of the Trade Proceeds into Your Beneficiary Account may result in charges being applied by the bank where the Beneficiary Account is held. For details of any such charges, please contact the bank directly.
12.5    Further information on the Regulations may be found on the website of the Financial Conduct Authority.
 
13.     How you can complain if You are not satisfied with Our service

13.1    We value all Our customers and take any complaint that You may have seriously. In accordance with Our complaints policy, any complaint that You may make regarding the Trade and/or any Money Transfer must be made or confirmed to Us in Writing. We have a specific email address for this purpose:  complaints@halofinancial.com .
If You would like to see a copy of Our complaints policy, please contact Us. If You are dissatisfied with Our response to any complaint, You have the right to refer the matter to the Financial Ombudsman Service, located at Exchange Tower, Harbour Exchange Square, London E14 9SR
 
14.     Other general Terms

14.1    A person who is not a party to the Agreement shall have no rights under or in connection with the Agreement or these Terms under the Contracts (Rights of Third Parties) Act 1999.
14.2    You agree that nothing in these Terms will be deemed to create a partnership, joint venture or agency relationship between Us and You.
14.3    These Terms (together with the Terms of Use and policies shown on Our Website and the guidelines and requirements shown on Halo Online) constitute the entire Agreement and understanding between Us and You and supersede all verbal communications and prior written agreements relating to it (with the exclusion of the Trade Confirmation).
14.4    We may alter these Terms at any time by giving You written notice of the modifications, signed by one of Our company directors. Any such amendment will not be retrospective or affect any rights or obligations that may already exist in respect of any Order.
14.5    Once We have given You notice of any alterations of these Terms in accordance with clause 14.4 above, if You use or continue to use Our Service then You will be deemed to have accepted them and to have agreed to use Our Services in accordance with these Terms as so modified.
14.6    Should any of these clauses be deemed unenforceable or illegal, the remaining clauses will nevertheless continue in full force and effect.
14.7    You may not assign or otherwise transfer the benefit of any Agreement without Our express written consent. We may assign and/or novate Our rights and obligations under the Terms to any third party and You hereby consent without reservation to any such assignment or novation.
14.8    Any failure by either Us or You to exercise, or any delay, forbearance or indulgence by either Us or You in exercising, any right, power or remedy under this Agreement will not operate as a waiver of that right, power or remedy or preclude its exercise at any subsequent time.
14.9    If any of these Terms conflict with the Trade Confirmation, the Trade Confirmation will prevail.
14.10  If Your trading facility is a joint trading facility, Your obligations under these Terms will be joint and several and any notice given to any joint trading facility holder will be deemed to be given to all joint trading facility holders and We may act on the instruction of any of them. In such circumstances, the definition of "You" and "Your" shall mean all such joint account holders.
14.11 You acknowledge, agree and consent to the fact that We may record any or all telephone calls that We have with You with or without an automatic warning tone and, to protect both Your and Our interests, to the use of such recordings or transcripts from such recordings as evidence in any dispute or anticipated dispute between Us and You or to verify the details of an Order.
14.12 Any such recordings or transcripts that We make may be destroyed by Us in accordance with Our normal practice.
14.13  You have a right to obtain a copy of these Terms from Us at any time, free of charge.
14.14 These Terms will be governed and construed in accordance with English Law and any dispute pursuant to these Terms shall be subject to the exclusive jurisdiction of the English Courts.
14.15  The language of any Trade and of all related correspondence shall be English, in accordance with its common interpretation and usage in England.
14.16  Times and hours of day specified in these Terms shall be the times and hours of the United Kingdom on the relevant date.
14.17  Halo is authorised and regulated by the FCA under the Regulations, under FRN (Financial Conduct Authority Reference Number): 528727 and by HMRC, under MSB (Money Service Business) registration number: 12197454.