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1. Introduction

These Terms and Conditions ("Terms") govern the payment of interest (“the interest”) on client account unused cash (“Free cash”) by AFS Global Limited ("the Company") to its Direct Retail clients (“Clients”). By participating in this interest program, the Clients agree to comply with these Terms.

2. Interest Accrual

2.1. Eligibility:

• This interest program is available exclusively to direct Retail clients of the Company.
• Only individual Clients are eligible to participate in this program and;
• Clients not referred by any third party.
• This offer is only applicable to USD-denominated cash balances.

2.2. Interest Rate and Calculation:

2.2.1. Interest Rate

The annual interest rate is set at 2.75%. The Company reserves the right to modify this rate at its discretion. The Company could change and decrease or increase the interest rate paid to the Client at its full discretion at any time without prior notice to the Client and without the Client’s acknowledgment or consent.

2.2.2. Calculation Formula

• Interest will be accrued on the end-of-day (referred to as “Free Margin” on MT4/5 and “Available” on amana app and amanaWeb).
• MT4/5 Daily Interest = (Free Margin – Credit) x Interest Rate / 100 / 360
• amana app and amanaWeb Daily Interest = Available x Interest Rate / 100 / 360

2.2.3. Netting Off Credit

• Interest is calculated individually for each trading account. When a client has a credit balance, the company will first subtract this credit from the Free Cash before calculating the interest due.

2.2.4. Setting rates

• amana uses a blended rate based on market conditions as set by the Federal Reserve and global central banks. amana can make adjustments accordingly without prior notifications.

3. Payment of interest

• Accrued interest will be paid to Clients at the end of each month as a deposit into their trading account.
• The 2.75% is effective as of August 26th 2024.

4. Account statement

Interest will be clearly shown on the client's monthly trading account statement under a designated line item.

5. Changes to Interest Rate

5.1. Modification of Rate:

The Company reserves the right to change the interest rate at its sole discretion. Any changes will be communicated to Clients via the Company’s standard notification procedures.

6. Interest Program and Account Activity

Participation in the interest program will not impact the client's account status or trading activities with amana. Clients will retain the ability to deposit, withdraw, and utilize available free cash for trading purposes as usual. Unlike traditional fixed deposits offers, which often require a lock-in period, there is no such restriction on your cash at amana. However, any funds withdrawn from the client’s account or utilized for trading purposes will no longer accrue interest under the program.

7. General Provisions

7.1. Governing Law: These Terms shall be governed by and construed in accordance with the laws of the Federal Territory of Labuan, Malaysia.

7.2. Severability: If any provision of these Terms is deemed invalid or unenforceable, the remaining provisions shall continue in full force and effect.

7.3. Amendments: The Company may amend these Terms at its discretion. Amendments will become effective immediately upon publication. Continued participation in the program constitutes acceptance of the amended Terms.

7.4. Client Agreement: These Terms are an integral part of The Client agreement between the Client and the Company. By accepting the client agreement, Clients acknowledge and accept these Terms.

8. Revocation of Interest

Any indication or suspicion in The Company’s reasonable discretion, of any form of arbitrage, abuse, fraud, manipulation, connected to the interest program or any other forms of deceitful or fraudulent activity on trading account, the Company reserves the right at its reasonable discretion to stop paying the interest.

9. Opt-Out Provision

Clients who do not wish to receive interest may request the termination of their participation in this interest program by opening a WhatsApp chat with our customer support team or emailing directly on [email protected]

10. Contact Information

For any inquiries or further information regarding these Terms, please contact: AFS Global Limited - [email protected]

Please review these Terms and Conditions periodically to stay informed about any updates or changes.