The foreign currency conversions can expose you to foreign currency exchange

The foreign currency conversions can expose you to

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The foreign currency conversions can expose you to foreign currency exchange risks between the time the Transaction is entered and the time the relevant conversion of currencies occurs. This will immediately impact on the margining of your Account, so you must be careful to understand and to monitor the effect of trading in products denominated in foreign currencies. Foreign exchange markets can change rapidly. Foreign currency exchange rates depend on many factors including
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eToro Australia PDS (31 July 2018) 21 for example, interest rates, currency supply and demand and actions of government. In some situations, exchanges of foreign currency may be suspended and further, may be allowed after a delay and the rates substantially different due to, for example, government decisions. These will impact on the rates of conversion set by eToro Australia. 6.2 Discretions eToro Australia has discretions under the Financial Product Terms which can affect your Account Orders and positions. You do not have any power to direct how we exercise our discretions. When exercising our discretions, we will comply with our legal obligations as the holder of an Australian Financial Services Licence. We will have regard to our policies and to managing all risks (including but not limited to financial, credit and legal risks) for ourselves and all our Clients, our obligations to our counterparties, market conditions and our reputation. We will try to act reasonably in exercising our discretions but we are not obliged to act in your best interests or to avoid or minimise a loss in your Account, or avoid causing you fees on Transactions. Our significant discretions are: whether to accept your Order (including to Close Out a position) or to amend it; any risk limits or other limits or filters we impose on your Account or your trading; determining Margin Cover and Margin Requireme nts, especially the amount of Initial Margin, and any grace time to meet any changed Margin Requirement; determining values of Underlying Instruments (for opening and closing positions and for determining Margin Cover); setting Bid prices and Ask prices; and Closing your positions and setting the Closing Value. You should consider the significant risks that arise from eToro Australia exercising its discretions see Section 4. Our other discretions include: setting our fees and interest rates; adjusting your positions for adjustments made in the market to the Underlying Instrument; adjusting, Closing Out or cancelling Transactions or Orders due to applying our compliance or operational policies; setting foreign currency exchan ge conversion rates; opening and closing your Account; and interpretation, variation and application of our policies.
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  • Spring '17
  • Sui
  • Financial Markets, Foreign exchange market, eToro Australia, eToro Australia PDS

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