Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you and Icon Stockbrokers Limited ("Icon", "we", "us", "our"), a licensed Dealing Member of the Nigerian Exchange Group (NGX), regulated by the Securities and Exchange Commission of Nigeria (SEC).

By downloading, installing, or using the Icon e-Trade application ("App"), you confirm that you have read, understood, and agreed to these Terms in full, as well as our Privacy Policy and Risk Disclosure Statement, which are incorporated herein by reference.

2. Eligibility

To use Icon e-Trade you must:

• Be at least 18 years of age
• Be a Nigerian citizen or resident, or otherwise permitted by applicable law to trade Nigerian Exchange-listed securities
• Have a valid Bank Verification Number (BVN) registered with the Central Bank of Nigeria
• Not be subject to any restriction or prohibition that would prevent you from entering into these Terms or trading securities
• Have the legal capacity to enter into a binding contract

Icon reserves the right to verify your eligibility at any time and to suspend or terminate your account if eligibility requirements are not met.

3. Account Registration & Security

To access our trading services you must complete our Know Your Customer (KYC) process, which includes providing accurate identity and financial information as required by the SEC and NGX. You are responsible for:

• Providing truthful, accurate, and current information during registration and KYC
• Maintaining the confidentiality of your PIN, password, and any authentication credentials
• All activity conducted through your account, whether authorised by you or not
• Notifying us immediately at support@icon-securities.ng if you suspect unauthorised access to your account

Icon will never ask for your PIN or password via phone, email, or any other channel. Do not share these credentials with anyone.

4. Services Provided

Icon e-Trade provides the following services:

• Online securities trading on the Nigerian Exchange Group (NGX)
• Portfolio monitoring and account management
• Market data, stock quotes, and research reports (where available)
• Deposit and withdrawal processing via our integrated payment partners
• Corporate action notifications (dividends, rights issues, etc.)

Services are provided on an "as available" basis. We do not guarantee uninterrupted availability and may suspend services for maintenance, regulatory compliance, or other reasons with or without notice.

Icon does not provide investment advice. All information on the App is for informational purposes only and does not constitute a solicitation, recommendation, or advice to buy or sell any security. You make all investment decisions independently and at your own risk.

5. Orders & Execution

• All buy and sell orders are placed on the NGX central order book and are subject to NGX trading rules and regulations
• Order execution is not guaranteed. Market conditions, circuit breakers, or NGX suspensions may prevent execution
• Once an order is placed and matched on the exchange, it cannot be cancelled or reversed
• Settlement of trades follows the T+3 settlement cycle of the Central Securities Clearing System (CSCS)
• Icon acts as your broker and executing agent; it does not act as a market maker or principal in any transaction

6. Fees & Charges

Trading on Icon e-Trade is subject to standard NGX regulatory charges, including:

• SEC levy
• NGX transaction fee
• CSCS settlement fee
• Icon brokerage commission
• Stamp duty (where applicable)

A detailed fee schedule is available within the App. Fees are deducted automatically at the time of trade settlement. Icon reserves the right to revise its brokerage commission schedule with reasonable advance notice.

7. Deposits & Withdrawals

• Deposits are processed via our integrated payment gateway and credited to your trading wallet upon confirmation
• Withdrawals are processed to the bank account registered on your profile only
• Icon may place a hold on funds required to settle outstanding trades before permitting withdrawal
• Processing times vary depending on the payment partner and your bank; typically 1–3 business days for withdrawals
• Icon is not liable for delays caused by third-party payment processors or your bank

8. Prohibited Conduct

You agree not to:

• Use the App for any unlawful purpose, including insider trading, market manipulation, or money laundering
• Provide false or misleading information during registration or KYC
• Attempt to gain unauthorised access to any account, system, or network associated with Icon
• Reverse-engineer, decompile, or disassemble any part of the App
• Use automated tools, bots, or scripts to access or interact with the App
• Transfer or share your account with any other person
• Engage in any conduct that violates NGX, SEC, or CSCS rules and regulations

Violation of these prohibitions may result in immediate account suspension, termination, reporting to regulatory authorities, and/or legal action.

9. Intellectual Property

All content, features, and functionality of the App — including but not limited to text, graphics, logos, icons, software, and data — are the exclusive property of Icon Stockbrokers Limited or its licensors and are protected by Nigerian and international intellectual property laws.

You are granted a limited, non-exclusive, non-transferable licence to use the App solely for your personal trading activities in accordance with these Terms. You may not reproduce, distribute, modify, or create derivative works from any part of the App without our express written consent.

10. Limitation of Liability

To the maximum extent permitted by applicable law:

• Icon is not liable for any investment losses arising from your use of the App or the trading services
• Icon is not liable for losses caused by market movements, exchange outages, technical failures, or events beyond our reasonable control
• Icon's total aggregate liability to you for any claim arising from these Terms shall not exceed the total brokerage commissions paid by you to Icon in the twelve (12) months preceding the claim
• Icon is not liable for indirect, consequential, incidental, or punitive damages

Nothing in these Terms limits Icon's liability for fraud, willful misconduct, or any liability that cannot be excluded by law.

11. Termination

Icon may suspend or terminate your account at any time if:

• You breach any provision of these Terms
• We are required to do so by a regulatory authority or court order
• We reasonably suspect fraudulent or illegal activity on your account
• You fail to maintain the eligibility requirements set out in Section 2

You may close your account at any time by contacting support@icon-securities.ng, subject to settlement of all outstanding trades and regulatory obligations. Upon termination, any securities held in your CSCS account remain yours and will be transferred to a broker of your choice.

12. Governing Law & Disputes

These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising from or relating to these Terms shall be subject to the exclusive jurisdiction of the courts of Lagos State, Nigeria.

Before initiating legal proceedings, you agree to attempt to resolve any dispute amicably by contacting our support team at support@icon-securities.ng. Regulatory complaints may also be directed to the SEC Investor Protection Fund.

13. Changes to These Terms

We may update these Terms from time to time to reflect changes in our services, regulatory requirements, or applicable law. We will notify you of material changes via in-app notification at least 14 days before the changes take effect, or immediately where required by law. Your continued use of the App after the effective date constitutes acceptance of the revised Terms.

14. Contact Us

For questions or concerns about these Terms:

• Email: support@icon-securities.ng
• Post: Icon Stockbrokers Limited, 24 Campbell Street, Lagos Island, Lagos, Nigeria
• Regulatory body: Securities & Exchange Commission Nigeria — sec.gov.ng