List of Unethical Trading Strategies 
                 
                 
                eBrókerház Zrt. considers the following trading practices to be unethical. The application of any of the below listed 
                practices shall qualify as a reason for termination of this Trading Agreement. 
                 
                Scalping is such trading practice in the course of which the trader attempts to make a large profit from small exchange 
                rate fluctuation. Traders applying such practice usually enter into daily 10 but even several hundred transactions hoping 
                that it is easier to follow the smaller exchange rate fluctuation than the larger ones. 
                 
                Pip Hunting means a trading strategy similar to scalping, where the trader opens and closes positions within extremely 
                short terms in order to realise gains from very small differences between the opening and closing prices. 
                 
                Algorithmic Trading during which the traders use various electronic devices to send out his transactions based on an 
                algorithmic pattern, which are previously programmed and contain instructions relating to trading. These orders or 
                transactions can vary in timing, price, and in quantity and other factors and these may change in many different ways. 
                These transactions are usually initiated by the assistance of a “robot” without human assistance. 
                 
                API Trading (application programming interface) means the use of a programming surface and it covers all cases during 
                which the trader uses software in the course of trading to interface with other programs. In such, the API plays the role of 
                an intermediary, transmitting orders and reading data, as necessary. 
                 
                In case of opening of multiple accounts a trader opens two or more accounts to multiply the benefits and bonuses 
                connected to certain accounts, thereby taking advantage of multiple benefits and bonuses not due to the trader. 
                 
                Abusive trading strategy, where 
                 
                a)     the Client abuses the operational peculiarities of a highly automated trading system, exploiting in particular 
                       incidental faults, dysfunctions, erroneous price quotations or other technical specificities in the system in order to 
                       obtain unlawful advantages through the continuous opening and closing of Transactions; 
                        
                b)     the Client carries on other unfair or abusive market practices, including in particular but not limited to incidents 
                       where the Client 
                          
                       -       commits fraud or other illegal activities,  
                       -       concludes transactions immediately before the publication of economic news affecting the given financial 
                               instrument, abusing his/her prior (non-public) knowledge of the economic news, 
                       -       concludes arbitrage transactions (including in particular swap, latency and bonus arbitrage, or arbitrages 
                               exploiting system errors), 
                                                                      
                    eBrókerház Befektetési Szolgáltató Zrt.                                                                                    page 1. 
                    Supervized by the Hungarian National Bank.  
                     
                    HFSA license numbers: III/73.059-4/2002. and III/73.059/2000. 
                    Municipal Court of Budapest, Cg.: 01-10-044141 
                     
                    Address: H-1072 Budapest, Rákóczi út 42., Hungary. Phone: +36-1-880-8400, Fax: +36-1-8808-440 
                    E-mail: info@ebrokerhaz.hu; Websites: www.ebrokerhaz.hu; www.tradegm.eu  
                                                                                                                                                
                                                   
                       -      executes concerted transactions with another, connected client in order to exploit the errors of the system, 
                              and the delays or updates occurring in it, 
                       -      concludes transactions – acting either alone or in concert with others – with the purpose of manipulating 
                              the trading system or prices, 
                       -      abuses negative balance protection by opening hedge transactions in two or more opposite accounts – 
                              whether all these are controlled by the Client or controlled by the Client and third parties – that allow the 
                              Client to trade practically risk-free making full use of the leverage ensured for him/her. 
                        
                       If  the  (framework) agreement concluded with the Company contains a list of unethical trading strategies or 
                       specifies the legal consequences applicable to Clients engaging in unethical trading practices, the provisions of the 
                       relevant (framework) agreement shall prevail in the event of a discrepancy. 
                
                
                
                
                
                                                                                                                           eBrókerház Zrt. 
                    eBrókerház Befektetési Szolgáltató Zrt.                                                                                  page 2. 
                    Supervized by the Hungarian National Bank.  
                     
                    HFSA license numbers: III/73.059-4/2002. and III/73.059/2000. 
                    Municipal Court of Budapest, Cg.: 01-10-044141 
                     
                    Address: H-1072 Budapest, Rákóczi út 42., Hungary. Phone: +36-1-880-8400, Fax: +36-1-8808-440 
                    E-mail: info@ebrokerhaz.hu; Websites: www.ebrokerhaz.hu; www.tradegm.eu