MT4 to MT5 Automated Migration Tool – Terms & Conditions

Notice to Traders: For the purpose of these Terms and Conditions, Scandinavian Capital Markets shall be referred to as "the Company". The individual or entity utilizing the migration tool shall be referred to as the "Trader" or "Client".

1. Introduction and Acceptance

As of July 31st, the Company is permanently discontinuing support for the MetaTrader 4 (MT4) platform. To facilitate the transition to MetaTrader 5 (MT5), the Company provides an optional Automated Migration Tool.

By checking the box stating, "I authorize the automated migration of my accounts. By checking this, I agree to the Migration Terms & Conditions. I understand that my MT4 accounts will be disabled," the Client expressly agrees to this legally binding addendum to the standard Terms and Conditions and Trader Agreement. If the Client does not agree to these terms, they must opt to manually close all open trades, withdraw or transfer funds, and manually migrate to MT5 prior to the July 31st deadline.

2. Authorization and Account Disabling

The Client hereby explicitly authorizes the Company and its automated systems to access their MT4 account(s), extract the applicable account data, transfer the balances and active positions to a corresponding MT5 account, and permanently disable the legacy MT4 account. The Client understands that once initiated, the automated migration process cannot be reversed.

3. Scope of Migration

The Client acknowledges and agrees to the technical limitations of the Automated Migration Tool.

What WILL be migrated:

• Account balance and total equity.
• Active open positions.
• Original open prices and open times for active positions.
• Accumulated swaps.
• Take Profit (TP) and Stop Loss (SL) levels attached to active open positions.

What WILL NOT be migrated:

• Trading History: The Client is solely responsible for downloading and archiving their MT4 trading history prior to the migration.
• Pending Orders: Limit and Stop orders will not be transferred. The Client must manually recreate these in the MT5 terminal.
• Expert Advisors (EAs): EA connections, scripts, and automated trading algorithms will not transfer. The Client must acquire MT5-compatible EAs and manually reconnect them.
• Custom Settings: Custom chart templates, indicators, and terminal profiles will be lost.

4. Client Obligations and Responsibilities

• Archiving Data. The Client acknowledges that the Company is not obligated to provide historical MT4 trading data once the server is decommissioned on July 31st.
• EA and Algorithmic Trading Reconnection. The Client assumes full responsibility for the downtime of any algorithmic trading strategies during the migration process. The Company is not liable for any missed trades, losses, or market movements that occur while the Client is reconnecting EAs to the new MT5 terminal.
• Margin Requirements. The Client is responsible for ensuring that their account maintains sufficient margin during and immediately after the migration process, taking into account that pending orders acting as hedges or entry strategies will not carry over.

5. Disclaimers and Limitation of Liability

The Automated Migration Tool is provided strictly on an "as-is" and "as-available" basis. While the Company will take reasonable steps to ensure a seamless transfer, the Company makes no guarantees regarding the uninterrupted or error-free operation of the software.

• Software and Execution Errors. The Client agrees that electronic systems are vulnerable to temporary disruption, delay, or failure. The Company shall not be held liable for any damages, financial losses, quoting errors, execution errors, or discrepancies in account balances/equity resulting from software malfunctions, server latency, or temporary loss of connectivity during the migration process.
• Market Risk During Transition. The Client acknowledges that foreign exchange and CFD markets are fast-moving. The Company is not responsible for any market slippage, gapping, or adverse price movements that may affect the Client’s positions during the time it takes for the migration to complete and for the Client to regain access via the MT5 terminal.
• Assumption of Risk. By utilizing the automated tool rather than manually closing positions, the Client assumes all risks associated with the digital transfer of active, leveraged market positions.
• Indemnification. The Client agrees to indemnify and hold the Company, its affiliates, agents, and technology providers harmless from any and all claims, losses, damages, or liabilities arising directly or indirectly from the use of the Automated Migration Tool. Any dispute arising from quoting, execution, or migration errors will be resolved by the Company in its sole and absolute discretion.

6. Governing Law and Jurisdiction

Consistent with the overarching Trader Agreement, this addendum and the rights and obligations of the parties hereto shall be governed by, construed, and enforced in all respects by the laws of the Republic of Mauritius, without limiting the Company's adherence to applicable regulations under Swedish law where strictly required for respective clients.

The Client consents and submits to the jurisdiction of the courts selected by the Company, in its sole discretion, in any action or proceeding arising directly or indirectly out of the automated migration process.

7. Final Provisions

These Migration Terms & Conditions supplement the existing Scandinavian Capital Markets Terms and Conditions and Trader Agreement. In the event of any conflict between this document and the overarching Trader Agreement regarding the specific MT4 to MT5 migration process, this document shall prevail.