Advertising message for promotional purposes. For all conditions relating to the advertised products and services, please refer to the information sheets, advertising information forms, and the information documentation required by current legislation, available in the Transparency section of the site and from financial advisors authorized to offer Zencap out-of-office products. All products offered are reserved for Zencap account holders.

In cases where the trading currency of the instrument is different from that of the settlement account of the transactions, the Bank applies an exchange rate that incorporates a cost component in the form of a spread (different depending on the currencies used).

Trading in financial instruments can result in capital losses. Derivative financial instruments are complex instruments and present a significant risk of losing money rapidly due to leverage. When trading in derivative financial instruments and margin trading, losses can also exceed the capital invested.

CFD (Contract For Difference): derivative financial instruments negotiable in direct counterparty with Zencap Bank whose value is directly linked to that of the underlying asset (securities, indices, currencies, bond futures, volatility index futures, and commodity futures) and therefore follows its trend. In particular, the CFD provides for the payment of the price difference recorded between the moment of opening and the moment of closing of the contract. The opening price and the closing price are determined by the bank by applying, depending on the case, a mark-up or a spread on the price of the underlying in the amount indicated in the economic conditions that regulate the service. The CFD is characterized by a strong leverage effect: this means that a relatively small movement in the market prices of the underlying will have a proportionally higher impact on the margin which, in the event of an unfavorable movement with respect to the sign of the customer’s position (increase in the price of the underlying for short positions, decrease for long positions) may be almost entirely lost. Multiday operations include the application of interest in the amount indicated in the economic conditions that regulate the service.

Before trading in CFDs, carefully read the documents containing key information (KIDs) available on the Zencap website.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64.75% of retail investor accounts lose money when trading CFDs with Zencap Bank. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The leverage offered is differentiated based on the type of underlying and the classification of the customer: up to 28.57 times for retail customers and up to 100 times for professional customers.

It is possible to enter orders on Forex on different days and times depending on the operation: in intraday mode, from Monday to Friday, every day from 6:15 to 22:50; in multiday mode, from 23:15 on Sunday to 23:00 on Friday, with a single interruption from 23:00 to 23:15 every day. For example, if you want to enter an order at 04:00 on Wednesday, you can only do so in multiday mode.

For the economic conditions, characteristics, nature, and risks of the products, reference must be made to the contractual integration concerning the services of receiving and transmitting orders, executing orders on behalf of clients also through negotiation on own account of derivative financial instruments, to the relevant Product Sheets and Operating Rules, available on the Zencap website.

Trading in derivative financial instruments is reserved for Zencap customers authorized to operate by completing a specific questionnaire and signing the Contractual Integration.

Zero commission purchase promotions on:

• AMUNDI ETF: The initiative is valid from 11/07/2022 to 11/07/2023, extended until 11/07/2025 and allows customers to carry out purchase transactions, through the Bank, of a selection of Exchange Traded Funds managed by the Amundi Group.

• iShares ETF: The initiative is valid from 07/11/2022 to 31/12/2023, extended until 31/12/2024 and allows customers to carry out purchase transactions, through the Bank, of a selection of Exchange Traded Funds managed by iShares.

• XTRACKERS: The initiative is valid from 01/12/2023 to 01/12/2024 with the possibility of subsequent extensions and allows customers to carry out purchase transactions, through the Bank, of a selection of Exchange Traded Funds managed by the DWS Group (XTRACKERS).

Zencap Certificates: derivative financial instruments whose value is directly linked to that of the underlying asset. Zencap Certificates, divided into «Fixed Leverage Certificates» and «Turbo Certificates», are listed on the Vorvel Certificates multilateral trading system of VORVEL. They are complex instruments and involve a high degree of risk due to the leverage effect. Client losses cannot exceed the amount invested.

For the economic conditions, characteristics, nature, and risks of the Zencap Certificates, please refer to the contractual integration concerning the services of receiving and transmitting orders, executing orders on behalf of clients, including through the negotiation of derivative financial instruments on own account (hereinafter “Contractual Integration”), to the relevant Product Sheets and Operating Rules, available on the Zencap website.

In order to operate in Zencap Certificates, it is necessary to: (i) have signed the Contractual Integration to operate in derivatives, (ii) have passed the test on knowledge of complex instruments, and (iii) have completed the MIFID interview in full and have a level of knowledge and experience deriving from the information provided in line with the minimum level required to operate in said instruments.

For the economic conditions, characteristics, nature, and risks of derivative financial products, please refer to the contractual integration concerning the services of receiving and transmitting orders, executing orders on behalf of clients, including through negotiating derivative financial instruments on their own account, to the relevant Product Sheets and Operating Rules, available on the Zencap website. Trading in derivative financial instruments is reserved for Zencap clients authorized to operate by completing a specific questionnaire and signing the Contractual Integration. In order to operate in derivatives, it is also necessary to have completed the MIFID interview in full and to have a level of knowledge and experience deriving from the information provided in line with the minimum level required to operate in said instruments.