General Business Terms and Conditions

§ 1 Scope of Applicability

These General Business Terms and Conditions apply to the relationship between QTrade GmbH, Landshuter Allee 8 - 10, 80637 München ("QTrade") as operator of the website at www.QTrade.de and www.QTrade.at and www.qtrade.ch ("website") and the visitors of the website ("clients").

§ 2 Activity of QTrade

(1) QTrade operates as an introducing broker ("IB") for London Capital Group Ltd., 2nd Floor 6 Devonshire Square London EC2M 4AB, Großbritannien ("LCG"). LCG has its registered office in London and is authorised by and registered with the Financial Service Authority (FSA) under reference number 434413. The activity of QTrade as an IB of LCG consists in introducing clients to LCG who, via an account to be opened, want to buy or sell financial instruments offered by LCG. 

(2) The client and QTrade conclude a service contract, whereby the services of QTrade in this regard consist exclusively in

  • forwarding to the client the account-opening documents of LCG ("account documents") that have been requested by the client from QTrade,

  • formal checking of the account documents returned by the client in order to verify that the data requested in these documents has been entered in full by the client and a copy of the client's identity card has been attached,

  • sending these account documents and the copy of the identity card to LCG, whereby LCG receives the original of the documents and QTrade makes a copy of them,

  • making available for downloading on its website software ("trading software") provided by LCG and

  • providing the client with assistance, by telephone and through the transmission of answers and documents by email, in accessing and learning to use the software provided by LCG.


(3) The orders of the clients with regard to the buying and selling of financial instruments are placed exclusively and directly with LCG, whereby solely the client and LCG are responsible for their execution.  

All legal obligations to provide explanatory information or transmit information, or other obligations in relation to the buying and selling of financial instruments, are incumbent solely on LCG.  QTrade does not provide and is not obligated to provide the client with explanatory information and individual counselling with regard to the buying and selling of financial instruments.  With respect to the execution of these brokerage orders only the contractual and general business terms and conditions of LCG apply in each case. 

(4) QTrade shall not operate in an advisory role for the client either in connection with the aforementioned buying and selling of financial instruments or in any other way (no investment counselling and no acquisition brokerage within the meaning of the German Banking Act).   Information on financial instruments that is accessible on the website does not constitute a buy recommendation, risk assessment or other evaluation of the financial instrument on the part of QTrade.

(5) The services - in particular the technical assistance in using the trading software ("support") offered free of charge by QTrade as well as the market information offered free of charge by QTrade via the website or in any other way ("market information") - offered by QTrade that go beyond the services according to Section (2) above are not part of the service contract concluded between the client and QTrade and can therefore be discontinued by QTrade at any time without prior notice or notification of the client.  

§ 3 Telephone Contact / Conclusion of Contract

(1) The client agrees that an employee of QTrade may contact him by telephone if the client contacts QTrade via the website and requests, for example, a demo account or makes a contact request.

(2) Between the client and QTrade a service contract regarding the services of QTrade listed under § 2 Section (2) is concluded when QTrade has provided the client with the account documents - for example, in electronic form for downloading from the website - after a corresponding request by the client

§ 4 Rights and Obligations of QTrade

(1) QTrade is entitled to refuse to conclude a service contract with a client without stating the reasons.

(2) If a service contract is concluded in accordance with § 3 Section (2), QTrade undertakes to forward these account documents with the client's data to LCG.  Checking of the contents of the client's account documents, in particular checking of the client's personal circumstances on the basis of the data provided by him, is not carried out by QTrade.  The client has no claim against QTrade for the opening of an account with LCG.

(3) Services of QTrade provided in the framework of its support services are offered by QTrade at its own discretion and free of charge and can be discontinued at any time.

§ 5 Rights and Duties of the Client

(1) The client must provide in full and truthfully the information requested from him in the account documents or the registration form for the opening of an account..

(2) The client has the right to request information at any time about the type and extent of his personal data stored at QTrade and to demand the immediate deletion of his data unless statutory regulations or government directives provide otherwise.

§ 6 Costs of the Services

(1) The support services provided by QTrade are free of charge.

(2) If a fee is charged by QTrade for additional services this is highlighted in QTrade's corresponding offer.

§ 7 Data Protection

(1) To the extent permitted by law, QTrade is entitled to collect, store, process and use the client's personal data. This applies in particular to the account documents and the copy of the identity card sent by the client to QTrade and forwarded by QTrade to LCG, copies of which are kept by QTrade.  Aside from this, the client's data is used and stored by QTrade for implementation of the support and for transmission to LCG of the registration for use of the software.  QTrade also uses the data for marketing purposes.

(2) At any time the client can object to the use or processing of his data for marketing purposes. The objection can be addressed to

QTrade GmbH
Landshuter Allee 8 - 10
80637 München

Telephone: +49 ( 0 ) 89-416123-94
Telefax: +49 ( 0 ) 89-3815368-61
Email: english-desk@qtrade.de

(3) Aside from this, QTrade is obliged to maintain confidentiality regarding all client-related facts that come to its knowledge during the performance of its services according to § 2 (2) .  Such information about the client may only be disclosed by QTrade to third parties if it is required by law to do so.

§ 8 Risk Information and Exclusion of Liability

(1) All information provided on this website by QTrade is for information purposes only and does not establish liability. This information should not be understood as an invitation to enter into a deal or a transaction and does not constitute a call for emulation, not even a tacit one.  All recourse claims are excluded.  Before any deal is entered into, a check should be made as to whether it is appropriate in view of the investor's personal and financial circumstances. Trading with shares, futures, warrants, CFDs, currencies and other financial instruments is associated with basic risks and total loss of the invested capital is not excluded.  Reading of the brochure "Basic Information on Futures Trading", which is obtainable from banks and savings banks and is intended for persons wanting to develop the ability to trade in futures is -  insofar as it is not already required under §53 Section 2 of the Stock Exchange Act - highly advisable. The support provided by QTrade does does not fulfil this educational function.  It is assumed instead that the knowledge conveyed by the brochure "Basic Information on Futures Trading" has already been acquired.

(2) QTrade makes every effort to ensure that the information provided is up-to-date and error-free but does not provide - to the extent permitted by law - any guarantee or make any promise or accept any liability on the part of QTrade.  All information on certain financial instruments does not constitute an invitation to buy, sell or hold the financial instrument described.  Nor does it establish an individual consulting or information relationship.

§ 9 Liability

(1) QTrade is only responsible for damage that is attributable to intentional or grossly negligent conduct on the part of QTrade or its agents in the framework of the activities and duties incumbent upon it under the service contract according to § 2 Section ( 2). Excepted from this is liability for loss of life, physical injury and damage to health as well as the breach of important contractual obligations, for which QTrade is already liable in the case of slight negligence. Liability according to the German Product Liability Act and for the breach of guarantees remains unaffected..

(2) In the case of damage to property and financial losses caused by slight negligence in the framework of the activities and duties incumbent upon QTrade under the service contract according to § 2 Section (2) and that is attributable to a breach of "cardinal obligations", the extent of QTrade's liability is limited to the damage typical for the contract and foreseeable when the contract is concluded. Contributory negligence on the part of QTrade according to § 254 BGB (German Civil Code) remains unaffected by this.

(3) QTrade cannot be held liable for the completeness and accuracy of the account documents sent to the client owing to the fact that these documents originate from LCG solely and QTrade has no influence on their content and has no opportunity to perform any checking in this regard.

(4) QTrade cannot be held liable for the usability of the trading software as well as the information and documents provided to the client by LCG.  QTrade has no opportunity to check the usability of the trading software as well as the completeness, currentness and accuracy of the information and data relating thereto that are provided to the client. 

(5) QTrade cannot be held liable for the contents of external links.  Responsibility for these contents lies solely with the creator or the operator of the particular website.

(6) The aforementioned exclusions and limitations of liability also apply with regard to the liability of the employees, staff, collaborators, representatives and agents of QTrade and especially for the benefit of the shareholders, employees, representatives, and organs and their members concerning their personal liability.

§ 11 Applicable Law and Jurisdiction

For the business relationship between QTrade and its clients, German law is applicable: the place of jurisdiction for disputes arising from this contract is Munich.

§ 12 Changes to General Business Terms and Conditions

Changes to these General Business Terms and Conditions will be made known to the client in writing (email or fax is sufficient). They will be deemed to be approved if the client does not object in writing to the changes within six weeks of being notified of them.

The objection is to be addressed to

QTrade GmbH
Landshuter Allee 8 - 10
80637 München

Telephone: +49 ( 0 ) 89-416123-94
Email: english-desk@qtrade.de

§ 13 Severability Clause

Should individual provisions of these General Business Terms and Conditions be or become ineffective in whole or in part, this does not affect the validity of the remaining provisions or the remaining parts of these provisions.  They are to be replaced by provisions corresponding to the originally intended commercial purpose.

§ 14 Power of Revocation

You can revoke in writing (e.g. letter, fax, email) your declaration for the conclusion of a service contract within a period of two weeks without stating the reasons. The period begins with the receipt of this instruction in writing, but not before conclusion of the contract and not before QTrade has fulfilled its obligation to provide information. In order to comply with the period of revocation, the timely sending of the revocation is sufficient .

The revocation is to be addressed to:

QTrade GmbH
Landshuter Allee 8 - 10
80637 München

Telephone: +49 ( 0 ) 89-416123-94
Email: english-desk@qtrade.de

Consequences of Revocation

In the case of effective revocation the services received on both sides are to be returned and, if applicable, compensation made for benefits derived. If you cannot return the received service in whole or in part or if you can return it only in a deteriorated condition you must compensate QTrade accordingly for the value lost. Obligations to refund payments must be fulfilled within 30 days. The period begins for you with the sending of your notice of revocation, and for QTrade with its receipt

Exclusion of the Right of Revocation

The right of revocation expires prematurely, insofar as the services offered by QTrade are concerned, if QTrade has begun to perform the service with your express consent before the end of the revocation period or you have initiated this yourself.



Munich, 1/1/2010