Riisk CFD Trading Terms and Conditions

  1. Introduction and Regulatory Compliance

Parties and Regulation: This Client Agreement (the “Agreement”) is entered into between WL Trade Ltd, doing business as “Riisk” (hereinafter the “Company”), and you (the “Client”). WL Trade Ltd is a company incorporated under the laws of the Republic of Mauritius and is licensed and regulated by the Financial Services Commission of Mauritius (FSC) as an Investment Dealer (Full Service Dealer, Excluding Underwriting). The Company operates in compliance with all applicable laws, regulations, and FSC Rules. The Company’s regulator is the FSC of Mauritius, and it adheres to the FSC’s regulatory framework and client money provisions, including maintaining segregated client fund accounts separate from its own funds. By opening an account or using any services of the Company, the Client confirms they have read, understood, and agreed to all terms and conditions herein.

Trading Name: “Riisk” is the commercial brand and trading name used by WL Trade Ltd. All services described in this Agreement are provided by WL Trade Ltd under the Riisk brand. Any reference to Riisk or the Company in this Agreement refers to WL Trade Ltd.

Scope of Agreement: This Agreement governs the relationship between the Company and the Client regarding all Contracts for Difference (CFD) trading services provided by the Company. It sets out the terms under which the Company will provide execution-only trading services (with no investment advice or portfolio management provided) to the Client for trading CFDs on various underlying assets. The Client acknowledges that this Agreement, along with other legal documents the Company may provide (such as Risk Disclosure, Client Categorization information, and the Company’s policies), forms a legally binding contract between the Company and the Client. If the Client does not agree with any part of these terms, they should not use the Company’s services.

Compliance and Best Practices: The Company shall act honestly, fairly, and professionally in accordance with the best interests of its Clients and in line with international best practices for CFD brokers. The Company complies with all applicable Mauritius laws and FSCRules, including requirements on risk disclosures, client categorization, anti-money laundering (AML) and Know-Your-Customer (KYC) obligations, and client fund segregation. In particular, the Company provides clear disclosures of risks and terms in client agreements as required by the FSC. The Client agrees to abide by all applicable laws and regulations, including those concerning financial markets abuse, anti-money laundering, and sanctions.

Amendments: The Company reserves the right to amend or update these Terms and Conditions from time to time. Any material changes will be communicated to Clients via the Company’s website or by email or other written notice. Continued use of the services after such notice constitutes acceptance of the updated terms. If the Client does not accept the revised terms, they must notify the Company and cease using the services, subject to settling any existing obligations.

  1. Client Categorization

Classification of Clients: In accordance with regulatory requirements, the Company classifies each Client as either a Retail Client or a Professional Client (or, in limited cases, as an Eligible Counterparty) at the time of onboarding. By default, all Clients are treated as Retail Clients, which affords the highest level of regulatory protections. A Client may be classified or re-classified as a Professional Client if they meet the relevant criteria (such as experience, knowledge, financial sophistication, trading history, and/or financial standing) and formally consent to be treated as a Professional. Eligible Counterparties (a subset of Professional Clients) are typically institutional or qualified parties dealing in their professional capacity.

Retail vs. Professional Protections: Retail Clients receive the maximum regulatory protections. This includes, for example, more comprehensive risk disclosures, negative balance protection (if and as offered by the Company as a policy), and certain limitations on leverage in line with the Company’s internal policies or regulatory guidance. Professional Clients are assumed to possess the experience and expertise to understand the risks of trading and therefore may waive some of the protections afforded to Retail Clients. Notably, Professional Clients may be offered higher leverage limits and are expected to understand the consequences (such as potentially greater losses due to higher leverage). The Company will inform Professional Clients of the loss of certain protections (such as certain risk warnings or compensation scheme cover, if applicable) before re-categorization. Regardless of categorization, all Clients are treated fairly and the Company’s obligations of best execution and honest dealing apply.

Opt-up or Opt-down Requests: A Retail Client who believes they meet the criteria to be a Professional Client may request in writing to be reclassified as Professional. The Company will assess such requests against objective criteria (for example: trading experience, volume, relevant work experience, or financial portfolio size) and will notify the Client of the outcome and any additional documentation or acknowledgments required. Conversely, a Professional Client who wishes to receive greater protection can request to be treated as a Retail Client if permitted by applicable rules. The Company is not obligated to grant reclassification if the regulatory criteria are not met or if it chooses not to offer certain categories to certain clients. Client categorization will be confirmed to the Client in writing (for example, in the welcome email or client area), and any changes thereafter will also be confirmed in writing.


Eligible Counterparties: The Company’s services are primarily intended for Retail and Professional Clients. Treatment of any Client as an Eligible Counterparty (typically applicable to regulated financial institutions or similarly sophisticated entities) will be done in compliance with applicable laws. Eligible Counterparties generally do not benefit from retail protections and some aspects of this Agreement may not apply to them (for example, best execution or certain disclosures), except as required under law. The Company will inform such clients of their status and obtain any necessary consents.

3. Scope of Services and Products

CFD Trading Services: The Company offers trading in Contracts for Difference (CFDs) on various asset classes, including but not limited to foreign exchange (forex), commodities, and cryptocurrencies. All trading is conducted on an execution-only basis, meaning the Company solely facilitates the Client’s ability to trade and does not provide investment advice or personal recommendations. The service is limited to trade execution and related ancillary services (such as account administration and customer support). The Client is solely responsible for their trading decisions and should carefully consider whether CFD trading is appropriate for their financial situation and risk tolerance.

No Ownership of Underlying Assets: When trading CFDs with the Company, the Client is speculating on price movements of underlying assets; the Client does not own or have any rights to the underlying asset itself (e.g., no ownership of actual shares, commodities, or cryptocurrencies). CFDs are derivative contracts where profits or losses are determined by the difference in price between the opening and closing of the contract.

Leverage and Margin Trading: The CFDs offered are typically margin and leverage-based products, meaning the Client can open positions by depositing only a fraction of the total value of the trade (the “margin”). The use of leverage can magnify gains but also magnify losses. There are no regulatory leverage caps mandated by the FSC in Mauritius; leverage levels are set by the Company’s policy. The Company will inform the Client of the maximum leverage available for each product and client category. Retail Clients may be offered more conservative leverage ratios in line with risk management best practices, whereas Professional Clients might access higher leverage if they meet criteria and request it. All Clients must maintain required margin levels; failure to do so may result in automatic partial or full position liquidation by the Company’s platform (see Section 6 on Margin and Risk for details).

Products Not Offered: The Company does not offer certain products or services, such as copy trading/social trading features or trading bonuses and promotions. The Client should not expect any bonus credit, “risk-free” trades, or similar inducements, as the Company refrains from such practices to remain aligned with regulatory best practices and to avoid incentivizing excessive trading risk. Additionally, the Company does not offer investment advisory services, managed accounts, or guaranteed return schemes. All trading is fully at the Client’s discretion and risk.

Eligible Client Eligibility: The Company’s services are available to Clients who meet the Company’s eligibility criteria. Typically, individuals must be at least 18 years old (or the age of majority in their jurisdiction) and must successfully complete the Company’s account opening procedures (including KYC verification and an assessment of trading appropriateness or suitability as required). The Company may, in its discretion, refuse to open an account or provide services to any applicant who does not meet its requirements or for any other lawful reason (for example, residents of jurisdictions where the Company’s services may be restricted).

Geographic/Legal Restrictions: The Company’s CFD trading services may not be available in certain countries or to certain categories of investors, as dictated by international sanctions, local regulatory restrictions, or the Company’s internal policies. It is the Client’s responsibility to ensure that their use of the Company’s services does not violate any local laws or regulations that apply to them. The Company reserves the right to refuse or discontinue services to any Client if required to do so by law or if the Client’s activities might pose legal or regulatory risk to the Company.

Conflict of Interest and Disclosure: CFD trading may create inherent conflicts of interest between the Company and Client. For instance, the Company or its liquidity providers may act as the direct counterparty to the Client’s trades (market-maker model), meaning the Company’s profits could correlate with Client losses and vice versa. The Company manages such conflicts in accordance with its internal Conflict of Interest Policy to ensure fair treatment of Clients, for example by using straight-through processing where possible or by adopting policies to ensure pricing fairness. The Client acknowledges the existence of such potential conflicts and that the Company has disclosed them. The Company may also receive income from spreads, commissions, or financing fees on Client trades; all such charges are transparently disclosed to the Client (e.g., on the website or trading platform).

Market Hours and Availability: The Company offers trading during the market hours applicable to each underlying market/instrument. While the trading platform may be accessible 24/7, actual trading in certain instruments (like forex or commodities) can only occur during specific hours (typically weekdays for forex/commodities, and as specified for cryptocurrency CFDs which may trade 24/7 except maintenance periods). The Company may halt trading or not open markets on certain public holidays or as required by liquidity providers. Advance notices of scheduled downtime (for maintenance, etc.) will be posted when feasible. The Company is not obligated to provide all possible markets and may add or remove instruments from its offering at its discretion, with notice to Clients when necessary.

  1. Account Use and Online Trading Platform

Account Opening and KYC: To use the Company’s services, the Client must complete the account opening process, which includes providing truthful and accurate personal information and fulfilling identity verification (Know-Your-Customer) requirements. The Company is obligated under law to verify the identity and residency of Clients. The Client must promptly provide any documents requested (such as identification card/passport, proof of address, etc.). The Company reserves the right to reject any application or to close an account if KYC/AML requirements are not satisfied or if fraudulent or false information was provided.

Login Credentials: Upon account approval, the Client will receive (or set) login credentials for accessing the trading platform and/or client portal. The Client is responsible for keeping these credentials confidential and secure. Any transaction or activity undertaken with the Client’s credentials will be assumed by the Company to have been performed by the Client. The Client must notify the Company immediately if they suspect their account has been compromised or accessed without authorization. The Company will not be liable for any loss arising from unauthorized access unless such access was due to the Company’s negligence.

Platform License and Use: The Company provides the Client with access to an electronic trading platform powered by DevExperts (the “Trading Platform”), available via web and mobile application. The Trading Platform is licensed to the Company and is made available for the Client’s personal, non-exclusive, non-transferable use solely for the purpose of trading and managing their CFD account. The Client is granted a limited right to use the platform and any accompanying software or content only for its intended purpose. All intellectual property rights in the Trading Platform (software, design, logos, etc.) remain the property of the Company or its third-party licensors. The Client must not copy, distribute, sublicense, modify, reverse-engineer, or exploit the Trading Platform or any part of the Company’s website and services except as allowed by the Company. The Client also agrees not to use the platform in any abusive manner, such as by deploying malicious software, overloading the system, using unsanctioned automated trading software that compromises platform stability, or engaging in activities that threaten the integrity of the trading system. Any such prohibited use can result in immediate suspension or termination of the Client’s access, closure of positions, and/or other appropriate action by the Company.

Orders and Instructions: The Client will place orders (such as opening or closing CFD positions, setting stop-loss/take-profit, etc.) through the Trading Platform. All orders are subject to the Company’s Order Execution Policy and trading conditions. The Client acknowledges that every order must be accepted and confirmed by the platform or the Company to be valid. Merely placing an order does not guarantee execution; actual execution depends on market conditions and the availability of prices/liquidity. The Company may at its discretion refuse to execute an order (for example, if it violates margin requirements, is below minimum trade size, or if the Client has breached the Agreement or applicable law). If an order is rejected, the Company will, if possible, inform the Client of the reason, but the Company is under no obligation to accept any particular order.

Pricing and Execution: Prices of CFDs are derived from the prices of the underlying assets, which may come from exchanges or liquidity providers. The Client understands that CFD pricing may include a spread mark-up or commission in favor of the Company as compensation for its services. The Company endeavors to provide competitive pricing and to execute orders at the prices displayed on the platform, subject to market conditions. However, due to the fast-moving nature of markets, slippage can occur; that is, the execution price may differ from the last quoted price if the market has moved. The Client accepts this risk of slippage, especially around volatile periods or when trading larger sizes. The Company will not be liable for failure to execute orders at a price that is no longer available in the market. Additionally, the Company may aggregate or hedge Client positions with its counterparties, but this does not alter the contractual relationship – the Client’s counterparty under this Agreement is the Company itself (unless otherwise specified).

Platform Availability and Maintenance: The Company strives to maintain the Trading Platform available continuously during trading hours. However, the Company does not guarantee uninterrupted availability of the platform. Routine maintenance, software updates, or unforeseen technical issues (such as power outages, internet failures, cyber-attacks, or extraordinary market stress) may cause the platform to be temporarily unavailable. The Company will attempt to give advance notice of scheduled maintenance downtime. In case of platform outage or failure, the Client should contact the Company immediately via telephone or other available means to manage their orders or positions. The Company is not liable for losses (including lost trading opportunities) that may result from technical difficulties or interruptions in service, provided that the Company has not acted negligently or in bad faith. The platform, all programs and facilities are provided on an “as is” and “as available” basis, without warranties of merchantability or fitness for a particular purpose.

Use of Third-Party Tools: If the Client uses any third-party software or tools in conjunction with the Trading Platform (such as Expert Advisors (EAs), scripts, or API tools), they do so at their own risk. The Company may, in its discretion, allow or disallow certain automated trading methods for Retail Clients. The Client must ensure any such tool does not violate this Agreement or the integrity of the platform. The Company is not responsible for any malfunction or unauthorized trading caused by third-party tools. The Company reserves the right to disable the Client’s trading if any third-party tool is suspected of causing system issues or being used for unfair advantage (e.g., exploiting latency or errors).

Client’s Responsibility for Equipment: The Client is responsible for obtaining and maintaining the devices (computer, smartphone, etc.) and internet connection necessary to access the Trading Platform. Any costs of connectivity or data usage are the Client’s responsibility. The Client acknowledges that poor or unstable internet connections may lead to delays in communication with the platform, and that the Company is not responsible for such issues stemming from the Client’s own equipment or internet provider.

Security and Data Protection: The Client’s personal data and trading data will be protected in accordance with applicable data protection laws and the Company’s Privacy Policy. The Company may record and monitor telephone conversations, electronic communications (emails, chats), and platform activity for compliance, training, and security purposes. Such records are the Company’s property but may be used as evidence in case of disputes. The Client consents to such recording and retention of communications. The Trading Platform uses encryption and security protocols to protect data; the Client should also employ security measures on their side (updated antivirus, secure network usage, etc.) to protect against unauthorized access or breaches.

  1. Deposits and Withdrawals

Funding the Account: The Client may deposit funds into their trading account using the methods supported by the Company. The Company accepts deposits via Alternative Payment Methods (APMs) (such as electronic wallets or online payment processors) and credit/debit cards, and may offer other methods like bank wire transfers or local payment solutions as detailed on its website or client portal. All deposits must be made in theClient’sownnameandfromtheClient’sownfunds.The Company does not accept third-party payments – deposits from accounts or cards not in the Client’s name will be rejected and returned. Likewise, the Company will only return withdrawals to the same source (and same account holder) from which funds originated, wherever possible, to prevent fraud and money laundering.

Alternative Payment Methods: When using APMs such as e-wallets or other online payment services, the Client should follow the instructions provided by the Company’s payment interface. Some APMs might incur fees or have transaction limits – the Company will disclose any fees it charges for deposits or withdrawals, but Clients should also be aware of any fees charged by the payment provider itself. The Company is not liable for delays in processing deposits that are due to the APM provider’s systems or additional checks. Funds will be credited to the Client’s trading account once the Company has received and identified the funds in its client bank accounts or payment processor accounts. The Company does not provide credit; only cleared funds deposited by the Client (and reflected in the trading account balance) can be used for trading.

Credit/Debit Card Payments: If the Client deposits via credit or debit card, they may be required to provide copies of the card (with certain details masked for security) to verify ownership. The Company reserves the right to refuse card deposits from certain high-risk regions or under other suspicious circumstances. All card deposit transactions, once processed, are generally non-refundable and irrevocable. This means that after depositing via card, the Client cannot simply ask for that specific transaction to be refunded back to the card outside the normal withdrawal process; instead, the funds should be withdrawn through the standard procedure (which may involve returning to the same card or bank account). The Client agrees not to request or initiate any chargeback with their card issuer without attempting in good faith to resolve with the Company first. In the event a chargeback is initiated, the Company reserves the right to freeze the trading account, recover the funds from the account (including any trading profits derived from the deposited funds), and to take legal action if the chargeback is unwarranted. The Company may also pass on to the Client any fees incurred due to an unjustified chargeback.

Withdrawal Requests: The Client may request a withdrawal of available funds (free from any open trade margin requirements) at any time through the client portal or by submitting a withdrawal request form. The Company processes withdrawals in a prompt manner, typically within [1-2] business days for internal handling. However, the actual receipt of funds by the Client will depend on the processing times of the payment provider or banks involved. Withdrawals will generally be sent via the same method and to the same source from which the funds originated, in accordance with anti-money laundering rules. For example, if a Client deposited via a certain e-wallet, the withdrawal may be returned to that e-wallet; if deposited by credit card, withdrawal up to the deposited amount might be returned to that card, with any excess profits sent via bank transfer. The Company may, at its discretion, combine multiple small withdrawal requests or require a minimum withdrawal amount (if de minimis amounts incur disproportionate fees).

Fees and Charges on Transactions: The Company endeavors to keep deposit and withdrawal fees transparent. The Company itself typically does not charge fees on deposits (e.g., card deposits might be free of Company-imposed fees), but third-party fees (from banks, card processors, or APM providers) may apply, which the Client is responsible for. Withdrawal fees may be applied by the Company in certain cases (for instance, bank wire withdrawals might carry a fixed fee, or a fee if the Client withdraws without doing any trading activity as a means to prevent fraud or abuse). All such fees are published on the Company’s website or fee schedule. The Client should also be aware of possible currency conversion fees if their trading account currency is different from the withdrawal currency; the Company is not responsible for exchange rate differences or fees charged by the Client’s own bank or card issuer.

Rejected or Delayed Transactions: The Company reserves the right to reject any deposit or withdrawal that does not comply with these Terms or with legal requirements. This can include deposits from third parties, suspicious transactions flagged under AML procedures, or withdrawal requests lacking necessary confirmation details. In such cases, the Company will notify the Client as soon as possible and may require additional documentation (for example, proof of bank account ownership or source of funds). The Company is not liable for any delays in crediting deposits or executing withdrawals caused by incomplete documentation or verification requirements. Interest is not paid on account balances, including during any delay period.

Client Money and Segregated Accounts: All Client funds received by the Company are held in segregated client bank accounts, separate from the Company’s own funds, in accordance with the FSC’s Client Money Rules. This segregation ensures that in the unlikely event of the Company’s insolvency, Client funds are safeguarded and protected from creditor claims. The Client funds may be held with reputable banking institutions or payment service providers as allowed by regulations. The Company will not use Client funds for any purpose other than to margin or settle the Client’s trading or to honor withdrawal requests. The Client acknowledges and accepts that while funds are segregated, no deposit insurance or guarantee scheme may apply to CFD trading accounts in Mauritius (unlike bank deposits). The Company will exercise due skill and care in selecting financial institutions for holding client money and will monitor the creditworthiness and legal/regulatory status of those institutions. By agreeing to these terms, the Client authorizes the Company to hold and manage their money in accordance with legal requirements.

  1. Leverage, Margin, and Risk Disclosures

Leverage and Margin Requirements: Trading on margin means that the Client can open positions larger than their account balance might otherwise allow by using leveraged trading. The Company will set specific margin requirements for each CFD product (e.g., 1% margin requirement means 100x leverage). These requirements will be communicated via the trading platform or the product specifications on the website. The Client is required to maintain sufficient margin at all times. The Trading Platform will display the Client’s used margin, free margin, and margin level (%). If the market moves against the Client’s position(s), the margin level will drop. Margin Call and Stop-Out: If the Client’s margin level falls to or below a certain threshold (e.g., 50% of required margin, as per Company’s policy), the Company may begin to automatically close positions starting from the largest losing position to prevent further losses. This is commonly referred to as a margin call or stop-out level. The Client understands that it is their responsibility to monitor their account and either add funds or reduce positions to avoid being closed out. The Company is not obliged to notify the Client before liquidating positions for margin shortfalls, though it may attempt to do so as a courtesy (e.g., platform alerts or emails).

Risks of Leverage: The Client acknowledges and accepts the high risks associated with CFD trading. CFDs are complex, leveraged instruments that carry a high risk of rapid financial loss due to leverage. While leverage can amplify profits, it equally amplifies losses, and the Client can lose the entirety of their invested capital (and potentially incur additional liabilities if proper risk controls are not in place). The Client should trade with money they can afford to lose and ensure they understand the concept of margin. Using maximum leverage is particularly risky – even small market movements can result in significant losses or gains. The Company emphasizes that CFD trading may not be suitable for all investors. By entering into this Agreement, the Client confirms they have read the Company’s Risk Disclosure Statement (provided separately) and that they understand the potential risks, including but not limited to: market volatility, leverage risk, liquidity risk (inability to close positions at desired prices in fast markets), counterparty risk (the risk that the Company or its liquidity providers may default, however mitigated by regulation), and technology risk (platform outages or failures).

Negative Balance Protection: As part of its commitment to client protection, the Company provides negative balance protection to Retail Clients – this means that Retail Clients will not lose more money than they have deposited in aggregate. If under extreme market conditions (for example, a sudden gap or flash crash) a Retail Client’s account balance goes negative due to positions closing out at losses exceeding their equity, the Company will adjust the account balance back to zero (0) at its own cost. This protection applies on an account-by-account basis for natural person Retail Clients. Professional Clients and legal entities may not be covered by this negative balance protection, and could be liable for any deficit in their accounts, unless the Company decides otherwise on a discretionary or case-by-case basis. The Client should not rely on negative balance protection as a risk management tool; it is intended as an emergency safeguard. The Company reserves the right to recover negative balances that were caused by fraud, abuse, or trading behavior that violated this Agreement (for instance, if the negative balance resulted from the Client’s breach of terms or manipulative trading, the Company may not honor the protection).

Market Volatility and Gapping: The Client understands that certain markets can be highly volatile (for example, cryptocurrency CFDs or during major economic news releases). Volatility can lead to gapping, where prices jump from one level to another without trading at intermediate levels. Gapping can result in stop-loss orders executing at worse levels than expected (known as slippage). The Company is not liable for losses caused by slippage in stop orders; this is a market risk the Client accepts. The Client is advised to use prudent risk management (such as not over-leveraging, using stop-loss orders, and monitoring positions closely) especially when trading volatile instruments.

No Guarantees of Profit: The Company does not guarantee any profit from trading activities. The Client should be wary of any information on the Company’s website or platform that discusses past performance or forecasts, as these are not reliable indicators of future results. Trading CFDs is inherently risky, and many retail traders lose money. The Client confirms they have the necessary experience and knowledge to understand the risks or, if not, that they have sought independent financial advice before engaging in CFD trading.

Risk Disclosures Compliance: In line with regulatory requirements, the Company has provided clear and comprehensive risk disclosures in this Agreement and related documents. By agreeing to these terms, the Client confirms that they have read these risk warnings and understand that CFD trading carries significant risk. The Client should not trade or continue to trade if they do not understand the risks involved. The Company encourages Clients to seek independent advice if needed. Furthermore, the Client agrees to regularly review the Company’s risk disclosures and any updates to them, as the Company may issue additional warnings or guidelines (for example, when new products are introduced or when market conditions so warrant).

Client’s Own Judgment: The Client acknowledges that all trading decisions are made at the Client’s sole discretion and risk. The Company may, from time to time, provide market commentary, analysis, or educational materials on its website or platform. However, these are provided for informational purposes only and do not constitute personalized investment advice or an offer to trade. The Client should not interpret any communication from the Company or its employees as trading advice. If the Client relies on any information (such as charts, analysis tools, or news feeds on the platform), they do so at their own risk and the Company will not be responsible for the outcome of trades based on such information.

Acknowledgment of Risks: By entering into this Agreement, the Client explicitly acknowledges the following key risk factors (not an exhaustive list):

  • Market Risk: Prices of underlying assets can move rapidly and against the Client’s interests, causing losses.

  • Leverage Risk: High leverage means that a small deposit can control a much larger position; a small market movement can have a proportionally large impact on the funds you have deposited – it can generate large profits or cause significant losses.

  • Liquidity Risk: Under certain conditions, it may become difficult or impossible to close a position at the target price (for example, due to lack of liquidity in the underlying market or rapid market movements).

  • Counterparty Risk: Since CFD trades are not executed on a central exchange, the Client is exposed to the risk of the Company or its executing counterparties being unable to meet their obligations. The Company mitigates this by being regulated and maintaining capital and risk management standards, but the risk cannot be entirely eliminated.

  • Technical Risk: Trading via an electronic platform carries the risk that technology may fail or malfunction (e.g., internet disconnections, software glitches). If such issues occur, the Client may not be able to place orders when desired or may not be aware of certain market events in real time.

  • Regulatory Risk: Changes in laws or regulations (or their enforcement) can impact the Client’s positions or the Company’s ability to offer certain products (for example, new leverage limits or bans on certain instruments in certain jurisdictions could be imposed with little notice).

The above risks and others detailed in our Risk Disclosure document are accepted by the Client. The Client agrees that they understand trading CFDs is highly speculative and that they could sustain a loss greater than their initial investment if not careful (except as limited by any negative balance protection for Retail Clients, as described above).

  1. Complaints Handling and Dispute Resolution

Internal Complaint Procedure: The Company is committed to addressing any complaints or disputes in a prompt and fair manner. If the Client has a query or is dissatisfied with any aspect of the service, they should first contact the Company’s customer support or their account manager. Many issues can be resolved informally at this stage. If the Client is not satisfied with the response, they may lodge an official complaint. An official complaint should be submitted in writing (for example, by email to the designated complaints email address published on the Company’s website, or by physical mail to the Company’s registered office). The complaint should include the Client’s name, account number, detail of the issue, and any supporting evidence or explanation of the concern.

Upon receipt of a formal complaint, the Company will acknowledge the complaint promptly (generally within a few business days) and provide the Client with a complaint reference number for tracking. The complaint will then be handled by a member of the Compliance Department or other independent authority within the Company’s organization. The Company will investigate the complaint objectively by reviewing the relevant circumstances (transaction logs, communications, etc.).

Timelines: The Company aims to resolve complaints within a reasonable timeframe. The Company will strive to provide a final response within 5 business days for straightforward issues. If a complaint is complex or requires further investigation, and thus cannot be resolved within this timeframe, the Company will issue a holding response or update to the Client within 5 business days, indicating the status of the investigation. In any event, the Company will provide a final response to the complaint within one month from the date of receipt of the complaint, as per regulatory guidance. If for some reason the Company is unable to provide a final response in one month, it will inform the Client of the reasons for the delay and give an expected timeframe.

Resolution and Remedies: The Company’s final response will state whether the complaint is upheld or rejected, and will outline the Company’s reasoning. If upheld, the Company will propose a remedy (which could include an apology, correcting an error, reversing a transaction, compensation, or another appropriate redress). If the Client accepts the resolution, the remedy will be carried out promptly. If the complaint is not upheld or the Client is not satisfied with the final response, the response will also inform the Client of their options to escalate the dispute externally (see below). The Company will keep a record of each complaint and its resolution in accordance with regulatory requirements.

No Waiver of Rights: Using the Company’s internal complaints procedure does not deprive the Client of the right to take legal action or to use alternative dispute resolution mechanisms. The Company encourages Clients to utilize the internal procedure first in order to possibly resolve the issue more quickly and informally, but this is not mandatory. However, note that certain external bodies might require that the internal procedure be attempted before they intervene.

External Dispute Resolution: If a dispute is not resolved to the Client’s satisfaction via the Company’s internal complaint handling process, the Client may escalate the matter to the appropriate external dispute resolution or regulatory authority. In Mauritius, Clients (particularly retail consumers) may lodge a complaint or seek mediation from the Office of the Ombudsperson for Financial Services. The Ombudsperson is an independent official empowered to deal with complaints from consumers of financial services against financial institutions regulated by the FSC. Contact details for the Ombudsperson’s office and the process for filing a complaint can be found on the official website of the Ombudsperson for Financial Services (Mauritius). Alternatively, or additionally, the Client may contact the Financial Services Commission (FSC) itself to report regulatory breaches (though the FSC may not adjudicate individual compensation claims, it can investigate regulatory compliance issues).

Legal Action: As another alternative, the Client has the right to seek legal recourse through the courts or through arbitration (if both parties agree to arbitration). This Agreement is governed by Mauritius law (see Section 9 on Governing Law and Jurisdiction), which means any court proceedings would typically be brought in Mauritius unless both parties agree on another forum. The Client acknowledges that litigation can be time-consuming and costly; the Company thus encourages attempting resolution through the above means first. However, nothing in this Agreement or the Company’s complaints process will be construed as limiting the Client’s statutory rights or access to legal recourse.

Continued Duties: While a complaint or dispute is ongoing, the Client and the Company must continue to fulfill any obligations under this Agreement that are not directly affected by the dispute. For example, the existence of a dispute does not automatically entitle the Client to stop meeting margin calls or allow the Company to freeze the Client’s account (except where the dispute involves suspected wrongdoing that necessitates account suspension). The Client should continue to manage their trading positions normally, and the Company will continue to provide services (unless the nature of the dispute reasonably requires a temporary hold). Any such measures will be communicated to the Client.

Complaints about Third Parties: If the Client’s complaint is about a matter that lies with a third-party (for instance, a liquidity provider’s pricing or a technology provider’s malfunction), the Company will still manage the complaint internally by liaising with the third-party as necessary. The Company remains the primary point of contact for the Client. The Company will not redirect the Client to the third-party, except perhaps suggesting the Client cancel a service with that third-party if it’s something the Client controls (e.g., an add-on tool). Ultimately, the Company takes responsibility for the performance of its contractual obligations to the Client, even if it outsources certain functions.

  1. Governing Law and Jurisdiction

Governing Law: This Agreement, and any non-contractual obligations arising out of or in connection with it, shall be governed by and construed in accordance with the laws of the Republic of Mauritius. The rights and obligations of the parties under this Agreement shall, therefore, be subject to and interpreted according to Mauritian law. The Client acknowledges that the Company is a regulated entity in Mauritius and that its activities are subject to Mauritian financial services laws and FSC Rules, which shall have precedence in governing the relationship where applicable.

Jurisdiction: The parties agree that the courts of the Republic of Mauritius shall have exclusive jurisdiction to hear and determine any disputes or claims (including non-contractual disputes or claims) arising out of or in connection with this Agreement, its subject matter or formation. The Client and the Company each irrevocably submit to the jurisdiction of the Mauritian courts. The Company’s domicile for service of legal process is its registered office in Mauritius, and the Client’s domicile for service shall be the last address provided by the Client (whether residential or business address). Each party waives any objection to the Mauritian courts on grounds of inconvenient forum or otherwise, and also waives any right to object against the execution of any judgment by those courts.

Enforcement and Recognition of Judgments: A judgment in any proceedings brought in the courts of Mauritius shall be conclusive and binding upon the parties and may be enforced in the courts of any other jurisdiction as applicable. If the Client is located outside Mauritius, the Company retains the right to initiate proceedings against the Client in the country of the Client’s residence (or any other relevant jurisdiction) if it deems appropriate. In such a case, proceedings in one or more jurisdictions do not preclude proceedings in others (whether concurrent or not), to the extent permitted by law.

Arbitration Option: Notwithstanding the above, the Company reserves the right to propose arbitration for dispute resolution if a dispute arises. If both the Company and the Client consent in writing, such dispute shall be finally settled under the Rules of Arbitration of an internationally recognized arbitration center. The seat of arbitration would be Mauritius (unless agreed otherwise), and the language of arbitration would be English. The decision of the arbitrator(s) would be final and binding. However, entering an arbitration agreement is entirely optional and would require mutual agreement after the fact; the default remains the courts of Mauritius as specified.

Client Category and Jurisdiction: The provisions of governing law and jurisdiction apply regardless of the Client’s category (retail or professional) and regardless of the Client’s location. However, if the Client is a consumer residing in a jurisdiction with mandatory consumer protection laws that provide for a different jurisdiction or applicable law (despite a choice of law clause), then to that extent those laws may override the above provisions for that individual consumer Client. In all other cases, Mauritius law and jurisdiction will prevail.

  1. Other Terms and Standard Legal Clauses

No Investment Advice or Fiduciary Duty: The Company’s relationship with the Client is strictly that of an arm’s-length counterparty or broker. The Company is not an adviser or fiduciary to the Client. Any general market commentary or information provided by the Company, its website, or staff is incidental to the Client’s relationship with the Company and does not constitute personal investment advice. The Client should  not  rely  on the Company to monitor their trades or to advise on the appropriateness of any trade. The Client is responsible for their own investment decisions and the Company will execute orders only on instructions from the Client (save for automatic risk management closures as described in this Agreement). The Company does not owe the Client any fiduciary duties beyond those imposed by applicable law or regulation.

Representations and Warranties: The Client represents and warrants on a continuing basis that: (a) they are of legal age and legally competent to enter into this Agreement; (b) all information provided to the Company (during account opening and thereafter) is true, accurate, and not misleading; (c) they are not under any legal disability or subject to any law or regulation preventing their adherence to this Agreement or the trading of CFDs; (d) they are the beneficial owner of the account (or an authorized representative, if the account is for a legal entity) and that no third party has or will have an interest in the account except as disclosed to the Company; (e) they are acting for their own account and not on behalf of any undisclosed principal or for purposes of any scheme to defraud or evade laws; (f) all funds deposited are legally obtained, free of any lien, not proceeds of illegal activity, and the Client will not use the account for any illicit activities such as money laundering or terrorist financing. The Client also warrants that in trading with the Company they will comply with all laws applicable to them (for example, any foreign exchange controls or tax laws in their home country).

Indemnity: To the maximum extent permitted by law, the Client agrees to indemnify and hold harmless the Company, its affiliates, employees, agents, and representatives from all losses, damages, claims, liabilities, costs, or expenses (including reasonable legal fees) that arise out of: (i) any breach by the Client of this Agreement or of any law or regulation; (ii) misuse of the trading platform or services by the Client; (iii) any third-party claim arising from the Client’s actions (such as infringement of third-party rights or defamation in communications); or (iv) false information or documents provided by the Client. This indemnity shall survive termination of the Agreement. This means that, for example, if the Client were to violate market abuse laws or use the platform to manipulate prices and a third party (or regulator) brings a claim or fine against the Company as a result, the Client would be responsible for those costs.

Limitation of Liability: The Company will do its utmost to provide its services with reasonable care and skill. However, to the extent permitted by law, the Company’s liability to the Client is limited. The Company shall not be liable for any indirect, consequential, or incidental damages, or for any lost profits, lost opportunities or other special damages, arising out of or related to this Agreement or the Client’s use of the services, even if the Company has been advised of the possibility of suchdamages.In particular, the Company is not liable for losses or expenses incurred by the Client as a result of: any error or failure in the Trading Platform (absent the Company’s gross negligence), any delayed or unexecuted order, force majeure events (as defined below), or any action or omission ofanintermediatebroker,market,bank,custodian,or other third party which is beyond the Company’s direct control. In jurisdictions that do not allow the exclusion or limitation of certain liabilities, the Company’s liability will be limited to the minimum extent required by law. Nothing in this Agreement shall limit liability for death or personal injury resulting from the Company’s negligence or for fraud/misrepresentation, to the extent such liability cannot be excluded by law.

Force Majeure: The Company shall not be deemed in breach of this Agreement or liable for any failure or delay in performing its obligations if such failure or delay is due to extraordinary events or circumstances beyond the Company’s reasonable control. This includes, but is not limited to: natural disasters, acts of God, war, terrorism, civil unrest, epidemics or pandemics, labor strikes, interruptions or failures of utility services or communications (including internet outages, power failures), acts of government or regulatory authorities (including the suspension or failure of any relevant market), or any other cause that constitutes a force majeure event. During a force majeure event, the Company may, without prior notice, suspend or modify part or all of its services (including trading on the platform), freeze prices, or take any other actions it deems necessary and fair under the circumstances (e.g., adjusting opening/closing prices of affected trades, or closing open positions where market pricing is not available). The Company will make reasonable efforts to inform Clients of the occurrence of such an event and when it ceases. Upon the cessation of a force majeure event, obligations under this Agreement shall resume as soon as practically possible.

Amendments and Termination: The Company may amend this Agreement as provided in Section 1 (Introduction) regarding amendments. The Client will be bound by the changes after the notice period unless they terminate the Agreement before the changes take effect. Either party may terminate this Agreement at any time by giving written notice to the other. If the Client wishes to terminate, they must ensure all open positions are closed and then submit a termination request (typically via email or the client portal). If the Company terminates, it may closeoutalltheClient’sopenpositions and then return any remaining funds to the Client, net of any applicable charges. Termination of the Agreement will not affect any rights or obligations that have already arisen (for example, any outstanding payment or indemnity obligations survive). Upon termination, the Client will withdraw all remaining balances (or provide instructions for transfer) and the CompanywilldisabletheClient’saccesstotheplatform.Ifanydispute or investigation is ongoing at the time of termination, the Company may withholdfunds or maintain the account until resolution as permitted by law. Termination may be effected by giving thirty (30) working days' prior notice.

Severability: If any provision of this Agreement is held to be invalid, illegal, or unenforceable in any jurisdiction, then that provision shall be deemed modified to the minimum extent necessary to make it enforceable (or disregarded if not possible), and the remaining provisions shall remain in full force and effect. Any such invalidity or unenforceability in one jurisdiction shall not invalidate or render unenforceable that provision in any other jurisdiction. The parties shall endeavor in good faith to replace any invalid provision with a valid and enforceable one that, to the greatest extent possible, achieves the intended commercial or legal effect of the original.

No Waiver: No failure or delay by either party in exercising any right, power, or remedy under this Agreement shall operate as a waiver of that right, power, or remedy. Similarly, no single or partial exercise of any right, power, or remedy shall preclude any other or further exercise of it or the exercise of any other right, power, or remedy. A waiver of any provision of this Agreement or any right or remedy must be in writing and signed by the party against whom the waiver is claimed. The Company’s failure to insist on strict compliance with any term of this Agreement (for example, not enforcing a particular provision in one instance) shall not be deemed a waiver of such term in the future.

Assignment: The Client may not assign, transfer, or delegate any of their rights or obligations under this Agreement to any third party without the prior written consent of the Company. The Company may assign or transfer this Agreement (in whole or in part) to another entity (for example, in case of a corporate reorganization, merger, sale of business, or group restructuring), provided that such entity will continue to honor the terms of this Agreement. The Company will notify the Client of any such assignment. This Agreement shall be binding upon and inure to the benefit of the parties and their permitted successors and assigns.

Entire Agreement: This Agreement, together with any documents and policies incorporated by reference (such as the Risk Disclosure, Order Execution Policy, Privacy Policy, etc.), constitutes the entire agreement between the Company and the Client regarding the services. It supersedes all prior or contemporaneous oral or written communications, understandings, or agreements between the parties with respect to the subject matter. The Client confirms that, in agreeing to enter into this Agreement, they have not relied on any representation that is not expressly set forth herein. However, nothing in this clause limits or excludes any liability for fraud or fraudulent misrepresentation.

Communications and Notices: The primary mode of communication between the Company and Client is electronic. The Company will normally communicate via email, the secure client portal, or via notifications on the Trading Platform or website. It is the Client’s responsibility to provide the Company with a current e-mail address and to promptly update any contact information. Any notice or communication from the Company to the Client shall be deemed delivered: (a) if by email, on the day it is sent (provided no bounce-back or error is received); (b) if by posting on the client portal or platform, at the time of login next; (c) if by physical mail (if ever used), 5 business days after posting to the last known address. The Client should send official notices to the Company’s registered address or to the official email address provided for notices. Communications in relation to trading (orders, instructions) must be through the Trading Platform or, if the platform is unavailable, by phone to the designated dealing line. The Company may refuse instructions given by any other means for security reasons. All communications will be in English, which is the controlling language of this Agreement. If translations of any part of this Agreement or communications are provided, those are for convenience only, and the English version will prevail in case of discrepancy.

Client Understanding and Consent: The Client confirms that they have read, understood, and agree to these Terms and Conditions. The Client acknowledges that CFDs are high-risk products and confirms that they are not relying on any representation other than what is contained in this Agreement and the official information provided by the Company. By electronically accepting this Agreement (for example, clicking "I Agree" on the website or signing an account application) or by actually using the services (e.g., funding an account or placing trades), the Client is entering into a legally binding agreement with the Company. If there is anything the Client does not understand, they should contact the Company for clarification or seek independent advice before proceeding to trade.

Standard of Good Faith: Both the Company and the Client agree to act in good faith in their dealings with each other under this Agreement. This includes a mutual obligation to not deliberately frustrate the execution of the Agreement. The Company, when exercising its rights (such as closing positions or amending terms), will do so in a manner that is consistent with treating Customers fairly and maintaining the integrity of the market.

Acknowledgment of FSC Regulation: The Client acknowledges that the Company’s activities are regulated by the FSC Mauritius. The Company may be required to comply with certain directives or requests from the FSC (or other regulators) which could affect the Client (for example, a directive to suspend trading of a certain asset). The Client agrees that the Company, when acting in compliance with such regulatory requests or orders, shall not be deemed in breach of this Agreement. The Client also agrees to comply with reasonable requests for information or documentation from the Company that are necessary for regulatory compliance (for instance, periodic KYC refresh, source of funds inquiries, or confirmation of tax status for international reporting like FATCA/CRS if applicable).

By agreeing to these Terms and Conditions, the Client enters into a binding agreement with the Company and confirms their commitment to abide by all the terms set out in this document. The Company encourages the Client to retain a copy of this Agreement for their records and to refer to it regularly. In case of any questions or issues regarding these terms, the Client should contact the Company for assistance. The Company values transparency and regulatory compliance and strives to provide a secure and fair trading environment for all Clients.

Riisk may record, monitor, and process communications (telephone, email, social media, or in-person) for regulatory compliance and service quality.

Riisk is a brand name of WL Trade Limited, regulated company by the Financial Services Commission (FSC), Mauritius. License #GB24203141

Riisk is a brand name of WL Trade Limited, regulated company by the Financial Services Commission (FSC), Mauritius. License #GB24203141

40 Silicon Avenue Suite 201, 2nd Floor, The Catalyst,  

Ebene Cybercity, 72201 Mauritius

40 Silicon Avenue Suite 201, 2nd Floor, The Catalyst,  

Ebene Cybercity, 72201 Mauritius

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WL Trade Limited

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should ensure you understand how CFDs work and whether you can afford to take the high risk of losing your money

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