Disclaimer

Welcome to the website of OANDA TMS Brokers S.A. (formerly: Dom Maklerski TMS Brokers S.A.). Please read carefully the following information about TMS and the conditions for use of this website listed below.

TMS is subject to the supervision of the Polish Financial Supervisory Authority (“PFSA”). TMS has been authorized by PFSA since 26/04/2004 (KPWiG-4021-54-1/2004).

Webpage www.tms.pl and other web-services provided by TMS contain information about products and services provided by TMS.

The materials posted on this webpage do not constitute an offer of any services, as they are given for information purposes only and should not be treated as a basis for investment decisions.

Materials, that have been published on the webpage, are the result of analyzes carried out by TMS and, although they have been prepared on the basis of reliable data sources and with due diligence, TMS does not warrant the completeness, accuracy and validity of information and quotes contained therein. Therefore, TMS is not liable for any inaccuracies, delays, errors, omissions and interruptions in data that might occur while using the service and for any losses arising as a consequence of these factors. The risk of using this webpage is the sole responsibility of its user. TMS shall not be liable to users or third parties for decisions taken based on the recommendations and suggestions that were contained in the published materials on the webpage.

The aforementioned TMS’ webpages are available to the users worldwide. Please be advised that use of some products and services presented on the webpages may be restricted or prohibited for some entities under applicable local laws. In case of entities that are subject to restriction, access to the webpages is prohibited.

PLEASE NOTE THAT DUE TO THE PROCEDURAL REQUIREMENTS LISTED ON REGULATED MARKETS, IN PARTICULAR AT STOCK EXCHANGES, FINANCIAL INSTRUMENTS MAY NOT BE OFFERED TO PERSONS AND ENTITIES THAT ARE RESIDENTS OF THE UNITED STATES OF AMERICA (USA), NOR MAY BE SUBJECT TO THE SERVICES PROVIDED TO SUCH PERSONS AND ENTITIES.

Please be advised that the copyrights to the content presented on TMS webpages belong only to TMS or cooperating entities. Reproduction and dissemination of any information contained on the webpage, without the written permission of TMS, is strictly prohibited with the exception provided on TMS’ webpage.

Opening the TMS’website does not result in establishing any relationship with TMS or cooperating entities, in particular, does not authorize the use of the rights of TMS’ Clients.

TMS ’webpages may contain advertisements relating to the services provided by other entities and, in particular, banners and links redirecting to their websites. TMS is not responsible for any services provided in that way by third parties, as well as for the contents of any webpages that may be visited as a result of the use of these links or banners. The risk of using such websites is the sole responsibility of its user.

TMS should provide on its webpages an access to the demo version of transactional system for registered users. In order to sign up to the system, it is required to fill in the registration form with user’s data. Providing the abovementioned data is voluntary. Registration is possible only after user’s submission of the declaration of intend concerning the approval to processing personal data by TMS in terms of marketing purposes and to receiving e-mails by electronic means (in accordance with the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation). Everyone has the right to inspect their data and correct them.

The rules concerning the preparation and dissemination of information used for recommendations for financial instruments or their issuers regarding to TMS.

Analyzes and reports on the financial market, including analyzes and reports containing recommendations concerning financial instruments or their issuers, have been prepared by the market analysts of TMS, unless otherwise stated in the report or analysis.

Indication of recipients’ recommendations

Analyzis and reports drawn up by TMS are aimed at Clients who have signed with TMS an agreement for the provision of certain services, as well as at users of other TMS’ services, including Internet services provided by TMS.

The terminology used in the content of the recommendation

Whenever the analyzes and reports, drawn up by TMS, provide recommendation to buy or sell a specific financial instrument, it should be understood as the TMS’ opinion referring to the shaping of the instrument’s future price that may be above the current market price (in the case of the recommendations of "buy" - "buy") or below the current market price (in the case of the recommendations of "sell" - "sell"). Whenever the analyzes and reports, drawn up by TMS, refer to:

"range trading", "interval fluctuations", "consolidation" – should be understood in a meaning that TMS, in specified period of time, is expecting prices to stabilize within the interval instrument in order to use the upper level to sell and the bottom level - to buy the instrument;"target", "profit taking" - should be understood as the instrument target price envisaged by TMS at which it is advisable to close the position which originated from the given recommendation, i.e. to conclude the opposite transaction (with opposite direction) as compared to the original transaction;"stop-loss" - should be understood as the instrument target price envisaged by TMS at which it is advisable to close the position which originated from the given recommendation, that it is a measure of risk associated with investing in the instrument provided in recommendation. TMS prepares recommendations which statistically show an equal distribution of  all "buy" and "sell" recommendations.

>The list of recommendations made during the last 6 months and the period of validity of recommendations

List of analyzes and reports on the financial market, that are drawn up by TMS in the last 6 months, are available in the archives of TMS’ news service. Furthermore, the analyzes and reports prepared within the last 6 months are also directly available at the TMS’ headquarters.

TMS prepares day-to-day analyzes and reports on the financial market - daily, weekly, monthly, quarterly, half-yearly and yearly. Validity of the recommendations contained is a direct result of the time period covered by the analysis or report. TMS highlights that the period of validity of the recommendations may be shortened, as well as the recommendation may become out of date due to the evolution of the market price of the instrument. As a rule, short-term recommendations for the foreign exchange market instruments are valid for the period from 1 to 3 days from the date of preparation, and recommendations for futures and CFD-type instruments - from 1 to 5 days, unless otherwise is stated in the recommendations, analysis or report.

The methods and basis of valuation of financial instruments or issuers

Analyzes and reports on the financial market, including analyzes and reports containing in its content recommendations concerning financial instruments or their issuers, shall be made by TMS on fundamental analysis of macroeconomic indicators and economic events, as well as on the basis of statistical methods and technical analysis tools. With regard to a short-term analysis - hourly, 30-, 15- or 5- minute charts are used for technical analysis of prices of the underlying instruments, as well as the analyzes of medium-term – daily, 8- or 4- hourly charts are used, and with respect to long-term analyzes - weekly, monthly or quarterly charts are used.

Sources of information and responsibility TMS

Analyzes and reports, prepared and drawn up by TMS, are based on data obtained from reliable sources of information, in particular on the basis of data from financial information suppliers, i.e. recognized news agencies. Although the analyzes and reports have been prepared on reliable sources of information, TMS does not guarantee the completeness, accuracy and correctness of the data contained therein. TMS is not liable for the results of actions taken on the grounds of the recommendations, forecasts, projections and any information contained within the published reports. Past performance is no guarantee of future results.

Conflicts of interest

In order to prevent conflicts of interest, i.e. circumstances that could affect the objectivity of prepared recommendation, TMS introduced the relevant regulations and internal procedures, including in particular, procedures for the correct preparation and dissemination of information contained in recommendations concerning financial instruments, as well as their issuers or drawers. When preparing analyzes and reports, TMS uses the abovementioned sources of information. During the stage of preparing analyzes and reports, they are not consulted with third parties, in particular with the exhibitors or issuers of financial instruments that are subjects to analysis, report or recommendation.

TMS does not conduct business of buying or selling financial instruments on its own account, and therefore has no commitment  in financial instruments that are subjects to analysis, report or recommendation.

Employees of TMS and any other person affiliated to TMS, may invest on their own accounts in financial instruments which are the subject of prepared analyzes and reports. Rules for investing in financial instruments by such persons are set out in the relevant regulations and internal procedures that are applicable in TMS.