公司及许可证信息
This Risk Disclosure is issued by N S Capital (Global) Limited. N S Capital (Global) Limited, incorporated on 22 April 2015 (Company No. C 74156), is based in Malta with its registered address at Level 4, W Business Centre, Triq Dun Karm, Birkirkara BKR9033, Malta, and is regulated by the Malta Financial Services Authority under the Investments Services Act to provide investment services (view licence: #).
This website is intended for Retail Clients, Professional Clients and Eligible Counterparties. The services described on this website are not directed at residents of jurisdictions where their distribution or use would be contrary to local law or regulation, including but not limited to the United States, Canada, Japan, Belgium, Iran, North Korea, Syria, Cuba, and any jurisdiction subject to applicable international sanctions.
The scope of regulatory protection, including any investor compensation arrangements, leverage limits, negative balance protection and complaints procedures, depends on your client categorisation, country of residence, product type and applicable law. You should read this document together with the client agreement and other disclosures issued to you before opening a live account. Questions about this document may be sent to compliance@northstonecapital.net.
差价合约交易风险
N S Capital (Global) Limited offers contracts for difference (CFDs) on forex, indices, commodities, shares and cryptocurrencies. CFDs are complex, leveraged derivative instruments: you do not own the underlying asset, you take a position on the change in its price. The category is high risk and can produce rapid losses.
Leverage means that a small movement in the underlying market can have a large effect on your account. You may lose all money in your account. Where negative balance protection applies, it does not prevent loss of your deposited funds and does not make CFDs suitable for all clients.
Before trading CFDs, consider your objectives, financial situation, experience and risk tolerance. Do not trade with money you cannot afford to lose.
一般风险警示
差价合约交易涉及重大亏损风险，并非适合所有人。在本提供商处交易差价合约的零售投资者账户中，有 72% 出现资金亏损。您应考虑自己是否了解差价合约的运作方式，以及是否能够承受损失资金的高风险。
切勿投入您无法承受全部损失的资金。您不应使用生活所需资金、借入资金或退休储蓄为交易账户入金。由于杠杆头寸的亏损以标的市场的速度累积，在市场剧烈波动时，账户价值可能在数分钟内损失相当大的部分。
在进行首笔交易之前，请确保您了解拟交易的每种工具的合约规格——合约规模、保证金要求、交易时间及适用成本——并考虑先在模拟账户上练习；North Stone Capital 免费提供模拟账户。模拟交易表现并非实盘表现的可靠指标：模拟交易不存在情绪压力，且在某些情况下无法复现实盘的成交质量。
杠杆风险
差价合约以保证金方式交易。杠杆使您能够建立名义价值数倍于所投入资金的头寸，其放大亏损的程度与放大收益的程度完全相同。在 30:1 的杠杆下，1,000 个货币单位的保证金可控制 30,000 个单位的头寸，价格出现约 3.3% 的不利变动即足以损失分配给该头寸的全部保证金。因此，即便是较小的市场波动，也可能对您的账户产生不成比例的重大影响。
每个未平仓头寸均需维持保证金。如果您账户中的净值跌破所要求的保证金水平，您将收到追加保证金通知——即通知您必须存入额外资金或减少敞口。在快速变动的市场中，追加保证金通知可能在几乎没有任何预警的情况下发出，且 North Stone Capital 没有义务在采取进一步行动之前给予您回应时间。
如果您的净值继续下跌并达到适用于您账户的强制平仓水平，交易平台将开始自动平掉您的未平仓头寸，通常从亏损最大的头寸开始，直至再次满足保证金要求。强制平仓是作为最后手段的风险控制措施，而非保证：在跳空或流动性不足的市场中，头寸可能以远差于强制平仓触发水平的价格被平仓，亏损可能超过分配给该头寸的保证金。如您的签约实体提供负余额保护，您的亏损将以账户内资金为限；该保护是否适用，取决于您的签约实体及您的客户分类，以您的客户协议所载为准。
市场风险
我们差价合约所对应标的工具的价格，可能因经济数据发布、央行决议、政治事件、自然灾害及市场情绪变化而急剧且毫无预警地波动。市场波动可能导致点差扩大、执行变慢并加剧滑点——即您请求的价格与订单实际成交价格之间的差异。
市场还可能出现跳空：价格可从一个水平直接跳至另一个水平，而中间的价位并无成交。跳空常见于开市时、预定新闻发布前后以及突发公告之后。如果市场跳空越过您的止损订单，该订单将以下一个可成交的价格执行，而非您设定的水平。因此，普通止损订单只能限制亏损，并不能为亏损设定上限。
跨周末或市场假期持有的头寸面临额外风险。大多数差价合约市场从周五晚间至周日晚间（平台时间）休市，但推动价格变动的事件并不会停止。重新开市的价格可能与前收盘价存在显著差异，跨周末持仓所附带的止损订单将按重新开市价格成交。加密货币差价合约（如在标准市场时间之外提供交易）随时可能出现极端波动。
流动性风险
流动性是指能够以接近所显示报价的价格迅速开仓或平仓的能力。在市场承压的情况下——重大新闻事件、开市时段、节假日交投清淡或标的市场受到干扰——流动性可能急剧恶化。点差可能远超其通常水平，执行可能延迟或被拒绝，较大订单可能被拆分成交且价格逐步变差。
在极端情况下，可能暂时难以甚至完全无法平仓，例如标的工具暂停交易、交易所实施每日价格波动限制，或报价场所停止发布报价。在头寸保持未平仓状态期间，您仍持续暴露于进一步的价格波动及持续的保证金要求之下。以流动性较低的标的（包括部分股票和加密货币）为基础的差价合约更易出现上述情况，且主要交易时段之外的流动性通常更为稀薄。
成本与费用
交易成本会减少您的净利润并扩大您的净亏损，且无论交易盈亏均会产生。在交易之前，您应了解适用于您账户及每种工具的所有成本：点差（买入价与卖出价之间的差额）、按笔交易收取的任何佣金、对持仓超过每日展期时间的头寸收取或给付的隔夜融资（掉期）费用、当工具计价货币与您的账户货币不同时产生的货币转换成本，以及您的客户协议中规定的任何闲置费或管理费。
隔夜融资费用尤其值得注意。持有数日或数周的差价合约头寸会累积融资费用，相对于您预期捕捉的价格变动而言，该费用可能相当可观；通常每周有一天会收取三倍费用以涵盖周末。仅就价格而言盈利的头寸，在扣除成本后仍可能产生净亏损。
每种工具当前的点差、佣金及掉期利率公布于 northstonecapital.net 及交易平台。适用于您账户的数据以您的签约实体及账户类型为准。
适当性
差价合约交易并非适合所有人。一般而言，它仅适合下列客户：了解杠杆衍生工具、能够积极监控未平仓头寸、具有较高风险承受能力，并且即便损失全部入金也不会对其生活水平造成任何影响。
在开户过程中，您的签约实体将询问您的交易经验、知识及财务状况，以评估差价合约交易对您是否适当。请如实回答这些问题——基于不准确答案作出的评估不能保护任何人。如果评估表明差价合约交易可能对您不适当，您将收到警示；在收到该等警示后仍选择继续，属于您自己的决定，风险由您自行承担。
如果您不确定差价合约交易是否适合您的情况，请考虑先在模拟账户上练习，并在投入真实资金之前咨询独立的持牌财务顾问。
过往表现
过往表现并非未来结果的可靠指标。历史价格走势、回测结果、假设情景及以往的交易结果——无论是您本人的、其他客户的，还是市场评论中展示的——均不能预测接下来会发生什么。
我们平台上对历史价格水平、图表形态或既往市场行为的任何提及，仅作为事实性或分析性信息提供，并不表示任何账户将会或可能取得与所示相似的盈利或亏损。市场状况会发生变化，在某一环境中表现良好的策略可能在另一环境中完全失效。
模拟及演示结果具有固有局限性：其取得过程并无真实资金承担风险，且可能无法反映滑点、流动性及融资成本对实盘交易的影响。
不提供投资建议
N S Capital (Global) Limited does not provide investment advice. All content made available on northstonecapital.net and in our trading platforms — including market commentary, analysis, news, educational material, webinars, calculators and any signals or indicators — is generic information only. It does not take account of your personal circumstances, objectives, financial situation or needs.
No communication from us should be treated as a recommendation to buy, sell, hold or trade any instrument, or as a representation that any product is suitable for you. You are responsible for your own trading decisions and should seek independent advice where appropriate.
If we assess appropriateness or suitability during onboarding, that assessment is limited to the regulatory purpose for which it is collected and does not convert our services into advisory or portfolio-management services unless expressly agreed in writing.
利益冲突
N S Capital (Global) Limited and its affiliates may have interests that conflict, or appear to conflict, with the interests of clients. For example, we may act as counterparty to trades, may earn revenue from spreads and other trading costs, may hedge or not hedge client exposure, may receive or pay fees to service providers, and may have commercial relationships with liquidity, platform, technology or marketing partners.
We maintain policies and controls designed to identify, manage and, where required, disclose conflicts of interest. These may include segregation of duties, approval controls, remuneration controls, monitoring, disclosure and escalation to compliance.
A conflict cannot always be eliminated. Where a conflict cannot be adequately managed, we may decline to provide a service or may disclose the conflict so you can make an informed decision.
投诉程序
If you are dissatisfied with any aspect of our service, contact support@northstonecapital.net in the first instance. Many issues are resolved at this stage. If your concern is not resolved to your satisfaction, you may submit a formal complaint to the compliance team at compliance@northstonecapital.net.
A formal complaint should include your name, account identifier, contact details, a clear description of the issue, relevant dates, transaction references and the outcome you are seeking. We may ask for further information where needed to investigate fairly.
Complaints are reviewed in accordance with our complaints procedure and applicable regulatory requirements. Where you remain dissatisfied after our final response, you may have external escalation rights depending on your client categorisation, country of residence and applicable law.