Terms
of Use

1.2By accessing or using the Website, the visitor agrees to be legally bound by these Terms of Use as in effect at the time of access. A person who does not agree to be bound by them must not use the Website.

1.3These Terms of Use apply in addition to any further terms, conditions, disclosures or disclaimers appearing on a particular page or section. Where those additional terms conflict with these Terms of Use, the additional terms govern for that page or section.

1.4These Terms of Use are not part of the Client Agreement and are not one of the Policies incorporated into it. Section 24 governs the relationship between these Terms of Use and the Client Agreement.

1.5In these Terms of Use, "Royce", "the Company", "we", "us" and "our" refer to the Royce entity identified in the entity scope table above that operates the relevant part of the Website or with which the visitor deals. References to "you" are to the visitor.

2.2They apply to a person browsing publicly accessible pages, to a person submitting an enquiry or application, and to a Client accessing the Client Portal or the Trading Platform through the Website.

2.3Use of the Website does not create a client relationship, an advisory relationship, a fiduciary relationship or any other relationship between the visitor and Royce. A client relationship arises only when an Account is accepted or activated under a Client Agreement.

2.4A person accessing the Website on behalf of an organisation confirms that they are authorised to bind that organisation to these Terms of Use.

3.2Nothing on the Website, and nothing in these Terms of Use, makes one entity responsible for the acts, omissions or obligations of the other, of an affiliate, of a group company or of any third party.

3.3The licence held by one entity does not extend to another entity, and information relating to one entity should not be taken to describe the services, permissions or protections applicable to another.

3.4Where a page, service or communication does not identify a specific entity, it should be read as general corporate information and not as an offer or representation by any particular entity.

4.2Features may be added to or removed from the Website at any time at Royce's discretion, and the Website or any part of it may be suspended, withdrawn or made unavailable without notice.

4.3Continued access to the Website after a change to these Terms of Use constitutes acceptance of them as changed. The visitor is responsible for reviewing these Terms of Use periodically.

4.4Royce is under no obligation to update or keep current any information on the Website, to remove outdated information, or to mark information as outdated.

5.2The Website does not constitute, and must not be treated as, marketing, promotion, solicitation or an offer of financial services in any jurisdiction in which the relevant Royce entity is not permitted to carry on such activity.

5.3A person who accesses the Website does so on their own initiative and is responsible for ascertaining, and complying with, the laws applicable to them. Royce makes no representation that the Website or any service described on it is appropriate, available or lawful in any particular jurisdiction.

5.4Royce may restrict or block access to the Website, or to any part of it, from any jurisdiction, and may decline to accept an application from a person resident or located in any jurisdiction, without giving a reason.

5.5Nothing on the Website should be interpreted as an indication that any Royce entity is licensed, registered, authorised or otherwise permitted to provide services in a jurisdiction other than those stated in the entity scope table above.

6.2No information or material on the Website constitutes a solicitation, an offer, an invitation to treat, or a recommendation to buy or sell any financial instrument, to enter into any transaction, or to conclude any legal act of any kind.

6.3Nothing on the Website constitutes a commitment by Royce to open an Account, to accept an application, to provide any service, or to enter into any transaction. Royce may decline an application without giving a reason.

6.4Descriptions of products, services, account types, conditions, promotions and features are indicative and subject to change, and are subject in all cases to the terms of the applicable Client Agreement, Contract Specifications and Policies.

6.5Unless expressly stated otherwise, all price, spread, leverage, cost and performance information on the Website is indicative only and is not an offer to deal on those terms.

7.2Royce does not represent that any financial instrument, service, account type or strategy referred to on the Website is suitable or appropriate for any visitor.

7.3Market commentary, research, analysis, news, signals, education, webinars, calculators, model output and similar material are general in nature. They take no account of the objectives, financial situation, knowledge, experience or particular needs of any recipient.

7.4Such material must not be regarded as a substitute for the exercise of the visitor's own judgement. No investment or other decision should be made solely on the basis of content found on the Website.

7.5Opinions expressed on the Website are subject to change without notice and may differ from, or be contrary to, opinions expressed elsewhere by Royce or by a group company as a result of different assumptions and criteria.

7.6Before making a decision, the visitor should seek advice from a professional financial adviser or other qualified expert.

8.2A person trading these instruments may lose all funds committed and, where lawful negative-balance protection does not apply, may owe further amounts.

8.3The future performance of an investment cannot be deduced from its past performance or past market value. The value of an investment may fall as well as rise, and may be affected by movements in exchange rates. Royce does not guarantee that capital committed will maintain or increase in value.

8.4Past performance, simulated performance, hypothetical results and back-tested strategies are not reliable indicators of future results.

8.5Full information about the risks is set out in the Risk Disclosure Policy, which every applicant should read before applying for an Account.

9.2Forward-looking statements involve risks, uncertainties and other factors that may cause actual developments and results to differ materially from those expressed or implied.

9.3Royce is under no obligation, and expressly disclaims any obligation, to update or alter a forward-looking statement, whether as a result of new information, future events or otherwise.

10.2To the fullest extent permitted by law, Royce and its affiliates disclaim all representations and warranties, express or implied, in relation to the Website and everything contained in it, including warranties of title, non-infringement, merchantability, satisfactory quality and fitness for a particular purpose.

10.3Without limiting the foregoing, Royce does not warrant the accuracy, timeliness, completeness, security, reliability or availability of the Website or of any information or result obtained from it, does not warrant that the Website will be available at any time or at all, and does not warrant that it is free from viruses or errors.

10.4Material accessed, downloaded or otherwise obtained through use of the Website is obtained at the visitor's own risk, and Royce is not responsible for damage to any computer system, device or network, or for loss of data, resulting from such use.

10.5Royce does not warrant that content on the Website is a complete statement of the markets, instruments or developments to which it refers.

11.2To the fullest extent permitted by law, Royce and the persons referred to in section 11.1 shall not be liable for any incidental, special, punitive, exemplary or consequential loss or damage, however caused, arising out of the use of the Website, its content, or the inability to use it.

11.3This exclusion applies to loss or damage of any kind, including that caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft, destruction or unauthorised access, whether the claim is framed in contract, tort, negligence or on any other basis.

11.4Royce specifically disclaims liability for interference with any visitor's computer system or device by an unauthorised party, and for loss suffered by a visitor as a result of viruses or attacks by third parties.

11.5Nothing in these Terms of Use excludes or limits any liability that cannot lawfully be excluded or limited, including liability for fraud, for fraudulent misrepresentation, or for death or personal injury caused by negligence. Where a jurisdiction does not permit the exclusion of certain liabilities, the exclusions in this section apply only to the extent that jurisdiction permits.

11.6This section does not affect the liability provisions of the Client Agreement, which govern the relationship between Royce and a Client in respect of the Services.

12.2The visitor is responsible for taking adequate and appropriate security measures in accordance with good industry practice, on a continuing basis, to protect against fraud and cyberattack. Those measures include using a current browser version, installing recommended security updates, and maintaining up-to-date malware protection and firewall software.

12.3The visitor must not access the Website through a device or network that is known or reasonably suspected to be compromised.

12.4Royce is not responsible for loss arising from the visitor's failure to take the measures described in this section.

13.2The visitor must not attempt to gain unauthorised access to the Website, to any account, or to any system, server, network or data connected to it.

13.3The visitor must not interfere with, disrupt, overload or impair the Website or its infrastructure, or attempt to circumvent any security, authentication, geographic or access control.

13.4The visitor must not introduce any virus, worm, trojan, logic bomb or other malicious code, and must not use the Website to distribute unsolicited communications or to conduct fraudulent activity.

13.5The visitor must not reverse engineer, decompile or disassemble any part of the Website, the Client Portal or the Trading Platform, except to the extent that restriction is prohibited by law.

13.6Systematic retrieval of content from the Website in order to create or compile, directly or indirectly, a collection, compilation, database or directory, whether by robot, spider, scraper, automated device or manual process, is prohibited without prior written permission.

13.7Framing the Website, or creating a link to it, without prior written permission is prohibited.

13.8Royce may investigate a suspected breach of this section, may suspend or block access without notice, and may report the matter to a regulator or law-enforcement authority.

14.2The visitor must keep credentials, access codes and authentication factors secure, must not share them, and must notify Royce immediately of any suspected compromise or unauthorised access.

14.3Royce may rely on instructions given through credentials it reasonably believes to be those of the Client or an authorised representative.

14.4Royce may suspend access to the Client Portal or Trading Platform for security, maintenance, legal, regulatory or risk reasons, with or without notice.

15.2The ROYCE name and mark, and the Royce logo, are trademarks of Royce. Other marks appearing on the Website may be trademarks of their respective owners. No trademark of Royce may be used for any purpose without prior written permission.

15.3Individual pages or sections may be printed or downloaded for personal or internal use only, provided that all copyright and proprietary notices are retained.

15.4Except as stated in section 15.3, no person may modify, copy, transmit, distribute, display, perform, reproduce, publish, license, frame, create derivative works from, transfer or otherwise use any content from the Website, in whole or in part, for commercial or public purposes, without prior written permission.

15.5Nothing on the Website grants any licence or right in respect of any intellectual property, whether by implication, estoppel or otherwise.

15.6Where content is licensed to Royce by a third party, including market data, the visitor must comply with any applicable third-party licence terms notified on the Website.

16.2Royce has no control over, assumes no responsibility for, and makes no warranty or representation as to, third-party content or websites, including their accuracy, subject matter, quality, timeliness, security or availability.

16.3A link does not constitute an endorsement, recommendation or approval by Royce of the linked site, its operator, or any product or service offered on it.

16.4Royce has no liability for third-party content or websites, or for any website linking to or framing the Website. Access to a third-party website is at the visitor's own risk and is subject to that site's own terms and privacy practices.

17.2Comments, posts and activity by persons using sharing features are not controlled, endorsed or monitored by Royce, and Royce is not responsible or liable for them.

17.3A person who shares Royce content is not authorised to speak for or represent Royce. Their views are their own and must not be attributed to Royce.

17.4The provisions of section 16 relating to third-party content and links apply equally to social media features.

18.2Output produced by an artificial intelligence feature is general information only. It is not advice, is not a personal recommendation, and does not constitute a statement by Royce as to any fact, price, product or entitlement.

18.3The visitor should verify output against the underlying source or an authoritative document before relying on it, and is solely responsible for any decision taken or action performed on the basis of that output.

18.4Nothing generated by such a feature varies these Terms of Use, the Client Agreement, the Policies or the Contract Specifications.

19.2The visitor should communicate with Royce through a secure channel where one is provided, and should not use ordinary email to transmit personal, confidential or account-related information.

19.3Unless expressly stated otherwise by Royce in writing, Royce does not accept orders, trading instructions, withdrawal instructions or other transactional instructions sent by email or by any other electronic messaging system.

19.4Royce is not liable to any person for loss or damage incurred in connection with a message sent to Royce by ordinary email or by another electronic messaging system, including a message that is not received, not read, delayed or acted on late.

19.5Instructions must be given through the channels designated in the Client Agreement and the Policies. A communication sent through any other channel is at the sender's risk.

20.2The Website uses cookies and similar technologies as described in the cookie information published on the Website.

20.3Where consent is required for a non-essential technology, it is obtained through the mechanism provided on the Website and may be withdrawn at any time.

21.2Royce may terminate or restrict a person's access to the Website at any time, without notice and without giving a reason, including where it suspects a breach of these Terms of Use.

21.3Termination of access does not affect any right or obligation that accrued before termination, and does not affect the sections of these Terms of Use that are intended to survive, including those relating to intellectual property, warranties, liability, governing law and jurisdiction.

22.2A visitor who is not a Client and who wishes to raise a concern about the Website may contact Royce through the contact channels published on the Website and set out at the end of these Terms of Use.

22.3Correspondence sent to Royce is dealt with by the entity to which it relates. Where the correct entity is unclear, Royce will direct the correspondence appropriately.

23.2A delay or failure by Royce to exercise a right under these Terms of Use is not a waiver of that right. A waiver must be in writing and applies only to the matter stated.

23.3Royce may assign or transfer its rights and obligations under these Terms of Use. The visitor may not.

23.4No person other than the parties and a permitted successor or assignee may enforce these Terms of Use, unless Applicable Law provides otherwise.

23.5These Terms of Use, together with any additional terms applicable to a particular page or section and the Privacy Policy, constitute the entire agreement between the visitor and Royce in relation to use of the Website, without excluding liability for fraud.

24.2For a Client, the Client Agreement, the Contract Specifications and the Policies govern the Services and prevail over these Terms of Use in respect of any matter they address, in accordance with the order of precedence stated in the Client Agreement.

24.3Nothing in these Terms of Use varies, limits or excludes any right of a Client, or any obligation of Royce, under the Client Agreement, the Policies or Applicable Law.

24.4Nothing in these Terms of Use excludes or limits an obligation owed by Royce under its licence or under the regulatory rules applicable to it.

25.2Where the visitor is not a Client, these Terms of Use and any non-contractual obligation arising from them are governed by the laws of Mauritius, and the courts of Mauritius have non-exclusive jurisdiction.

25.3Nothing in this section prevents Royce from seeking protective, injunctive or enforcement relief in any other competent jurisdiction.

25.4A visitor accessing the Website from another jurisdiction remains subject to the laws of that jurisdiction, and this section does not confer any right or protection under the law of a jurisdiction in which Royce is not permitted to provide services.

26.2The current version of these Terms of Use is published on the Website. The version in effect at the time of access governs that access.

26.3Royce maintains version control and records the effective date of each version.