This Agreement is entered into by and between;
GBXMARKETS MARKETS SVG LCC with Registration No. 1893 LLC 2022. (hereinafter the “Company”) on the one part, and The Client hereinafter the “Client”, (including but not limited to “you”, “he” and or “she”, “his” and/or “her”) and in general a natural person or legal entity who has registered for a trading account with the Company and deposited funds on the other part.
The Company will provide the Investment Services covered by this Agreement to the Client, through its online electronic system (hereinafter the “Trading Platform”)
The provision of information by means of electronic communication is treated as appropriate since the Client has “regular access to the internet”. The provision of an e-mail address by the Client, for the purposes of carrying on of that business (“has regular access to the internet”), is considered as sufficient evidence. The Company will ensure that the Website will always be kept up to date and that the Website will be accessible continuously.
The Company reserves the right to amend, modify, update and change any of the terms and conditions of this Agreement at any time and notify the Client of any such change either via email or by publishing the updated version of this Agreement on the Company’s website. Any changes to the Agreement will not apply to transactions performed prior to the date on which the changes became effective unless Company and the Client specifically agreed otherwise. In case the Client disagrees with the changes, the Client may terminate the Agreement in accordance with paragraph 24 hereof.
In the event that the Agreement is translated into any other language (the “Translated Document”), then the Translated Document is for information purposes and furnished only in order to assist Client. The Translated Document shall not constitute any agreement between the Company and the Client. Notwithstanding the aforementioned, in the event of a dispute the Agreement (drafted in English) shall always prevail.
In this Agreement, except where the context otherwise requires, the following terms shall have the following meaning:
Subject to the Client fulfilling the obligations under this Agreement, the Company shall facilitate the execution of relevant transactions requested by the Client and allowed by the capabilities of the Company and the Agreement.
The Company shall carry out all transactions as provided in this Agreement on an execution-only basis, neither managing the account, nor advising the Client. The Company is entitled to execute transactions requested by the Client as provided in this Agreement even if the transaction is not beneficial for the Client. The Company is under no obligation, unless otherwise agreed in this Agreement and/or other documentation/information on the Website, to monitor or advise the Client on the status of any transaction, to make margin calls, or to close out any of the Client’s open positions. Unless otherwise specifically agreed, the Company is not obligated to make an attempt to execute the Client’s order using quotes that may be more favorable available through other market participants than those offered through its Trading Platform.
Without derogation from the above, the Company reserves the right, acting reasonably, to suspend or refuse access to and use of the Trading Platform to anyone at its sole and absolute discretion.
Provision of investment advice shall only be carried out by the Company subject to a separate written agreement with the Client and after assessing the Client’s personal circumstances. Un-less such written agreement has been entered into between the Client and the Company, the provision of reports, news, opinions and any other information by the Company to the Client does not constitute investment advice or investment research.
The Client agrees and acknowledges that he/she shall be exclusively responsible for any investment strategy, transaction or investment and he/she shall not rely on the Company for this purpose and the Company shall have no responsibility whatsoever, irrespective of any circumstances, for any such investment strategy, transaction or investment.
The Client has the right to cancel his/her order given to the Company within three (3) seconds after the moment of giving such order to the Company (hereinafter referred to as the “Cancellation”). The client agrees and understands that the three seconds cancellation option offered by the Company is applicable and available for the client as long as the price remains unchanged. Three seconds from the moment of giving the order to the Company by the Client via the platform, the Company may (but is not obliged to) offer to buy-out the option from the Client and the Client has the right to agree to such offer (hereinafter referred to as the “Buyout”). The Client is entitled to use such Cancellation or Buyout option subject to the conditions specified on the platform. Such conditions can also include the fee charged by the Company. Such fee is specified on the platform. The Company is obliged to provide all necessary information as to the conditions of Cancellation and Buyout, their cost, etc. The Client acknowledges and agrees that provision of such information on the platform is sufficient. The Client acknowledges and agrees that the use of Cancellation or Buyout is very risky to the Client as long as the cost of Cancellation and/or Buyout depends on the market situation. The Client acknowledges and agrees that he bears all the risks associated with the use of Cancellation and/or Buyout.
When you register for a trading account, the Company will ask you to provide personal data, as part of the account opening procedure that will allow us to identify you and categorize you according to the “Client Categorization Policy” of the Company. This information is collected in line with our stringent verification procedures which are used to deter international money laundering operations and to ensure the security and safety of our customers’ trading activity throughout and is subject to the Company’s “Privacy Policy”. We may not be able to proceed to offer our Services and the Client may be unable to proceed in his/her account registration unless the necessary information is provided.
Verification documents may include but are not limited to:
The Company reserves the right to request additional supporting documents during the verification of the Client’s Trading Account and on an ongoing basis during the business relationship if such information is required either due to legal and/or regulatory obligations that the Company may have or if such information is necessary so as the Company may efficiently offer its services to the Client.
Depending on the method of deposit, the Company reserves the right to request supporting documentation in order to verify the beneficial owner of the account from which funds have been sent if such information is required either due to legal and/or regulatory obligations that the Company may have or if such information is necessary so as the Company may efficiently offer its services to the Client.
In the case of Credit or Debit Cards deposits, the Company will request a scan copy of the front and back of the card. The Client should ensure to only leave available the first 6 and last 4 digits of the card number. All other digits and the CVV Code on the back should be covered for the Client’s protection.
The Company reserves the right to use the Client’s information, inter alia, in order to follow anti-money laundering regulation. The Client authorizes the Company to use such information to perform internal checks.
The Company may, at its discretion and depending on the deposit amount of the Client (maximum amount EUR 2,000), give the client up to fifteen (15) days from the date of deposit, to provide supporting documents for the verification of the account. During this time, the Client will have access to the trading plat-form. If the Client does not provide the documentation within this timeframe, the Company will block the client’s account and return any remaining funds. The returned deposits include any profits gained by the customer during its transactions and deducting any losses incurred.
The Client may at any time notify the Company that he/she wishes to exercise any of its rights afforded to it by the GDPR and listed below (and explained in detail in our Privacy Policy) in accordance with the procedure described in our Privacy Policy:
During the Client acceptance procedure, prospective Clients need to submit their Registration Data and various identification documentation required by the Company for its own internal checks. It is understood that the Company is not to be required (and may be unable under applicable regulations) to accept a person as its Client until all documentation it requires has been received by the Company, properly and fully completed by such person and all internal Company checks (including without limitation anti-money laundering checks, appropriateness tests) have been fully satisfied. So, even if you do provide your Registration Data, the Company still reserves the right to reject you. It is further understood that the Company reserves the right to impose additional due diligence requirements to accept Clients residing in certain countries.
As part of our on-going legislative obligations to have up-to-date and valid Registration Data and identification documents for all Clients we reserve the right to request additional documents and/or data from you at least annually as well as when an update is required.
The Client represents and warrants to the Company that:
The Company will provide you with Access Codes for gaining online access to the Company’s website and/or trading platforms, thereby being able to place orders for any Financial Instrument available from the Company and entering into Transactions with the Company. Further, you will be able to trade on the Company’s Trading Platforms with and through the Company with the use of a personal computer, smartphone or any other similar device that is connected to the internet. In this respect, you understand that the Company can, at its absolute discretion, terminate your access to the Company’s systems in order to protect both the Company’s and your interests and to ensure the systems’ effectiveness and efficiency. In such cases, the Company may close any or all Trading Accounts.
The Client agrees and declares that:
In addition, the Client undertakes to notify the Company immediately if the Client notices or has any reason to suspect that:
The Client acknowledges that the provision of the Service(s) may involve information being transported over an open network. Information is therefore transmitted regularly and without control across borders. The Company takes reasonable steps to avoid information being intercepted and read by third parties, by utilizing techniques such as encryption, however it is not always possible to avoid someone other than the Company from gaining access to information about the Client and the Client dealings with the Company.
The Client acknowledges that the Company will not take action based on the orders transmitted to the Company for execution by electronic means other than those orders transmitted using the predetermined electronic means such as the Trading Platform, and the Company shall have no liability towards the Client for failing to take action based on such orders.
The Company bears no responsibility for any actions or omissions of third parties nor does it bear any responsibility for any damage and/or loss and/or expense caused to the Client or third parties as a result of and/or in relation to any aforesaid action or omission.
The Company is not responsible for any power cuts or failures from the client’s part that prevent the use of the system and/or the Trading Platform and cannot be responsible for not fulfilling any obligations under this agreement because of network connection or electricity failures.
Orders can be transmitted to the Company for execution, only within the operating (trading) time. The Client’s order shall be valid and in accordance with the type and time of the given order, as specified.
The Client acknowledges and agrees that the Company has the right to close any transaction, at its sole and absolute discretion without providing prior notice to the Client if the underlying asset or contract on which the transaction is based settles on an expiry date as determined by the relevant financial market, in which the said asset is traded (such time referred to as ‘Closing Time’ and the relevant expiring transaction referred to as an ‘Expiring Transaction’). The Company will not be obligated to take actions to roll over an open position in an Expiring Transaction.
In case of force-majeure, the Company may suspend, freeze and/or cancel the Client positions and suspend any trading activities on the Trading Platform, and/or suspend the trading of a particular asset and/or request the revision of the executed transactions.
You can place an Order via the Company’s trading platform. Once your instructions or Orders are received by the Company, they cannot be revoked, except with the Company’s written consent which may be given at the Company’s sole and absolute discretion.
You place your order request at the prices you see on your terminal/platform and the execution process is initiated. Due to the high volatility of the market as well as the internet connectivity between the customer terminal and the server, the prices requested by the customer and the current market price may change, during this process.
The Company uses its reasonable endeavors to execute any order promptly, but in accepting your orders the Company does not represents or warrants that it will be possible to execute such order or that execution will be possible according to your instructions. In case the Company encounters any material difficulty in carrying out an order on your behalf, for example in case the market is closed and/or due to illiquidity in financial instruments and other market conditions, the Company shall promptly notify you and execute the order at the first best available price.
Orders can be placed, executed, changed or removed only within the operating (trading) time and shall remain effective through the next trading session. Your Order shall be valid and in accordance with the type and time of the given Order, as specified. If the time of validity of the Order is not specified, it shall be valid for an indefinite period.
The Company shall record telephone conversations, without any other warning further to the notification through this Agreement, to ensure that the material terms of a Transaction and/or order placed by the customer and/or any other material information relating to a transaction are properly recorded. Such records will be the Company’s property and will be accepted by you as evidence of your orders or instructions. Such monitoring is only carried out to the extent permitted or as required by law and as necessary and justifiable for business purposes
The Company may require you to limit the number of open positions which you may have with the Company at any time and the Company may in its sole discretion close out any one or more Transactions in order to ensure that such position limits are maintained. The position limits will be notified in advance to you either through the Company’s website or trading platforms.
If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to withdraw the specific financial instrument from the Company’s trading platform.
The Company has the right to set control limits in relation to your orders at its own and absolute discretion. Such limits may be amended, removed or added and may include without limitation:
There may be restrictions on the number of Transactions that you can enter into on any one day and also in terms of the total value of those Transactions. You acknowledge that some markets place restrictions on the types of orders that can be directly transmitted to their electronic trading systems. These types of orders are sometimes described as synthetic orders. The transmission of synthetic orders to the market is dependent upon the accurate and timely receipt of prices or quotes from the relevant market or market data provider. You acknowledge that a market may cancel a synthetic order when upgrading its systems, trading screens may drop the record of such an order, and you enter such orders at your own risk. You shall refer to the Company’s website for details of the restrictions/limits imposed on Transactions performed through its electronic systems and/or trading platforms.
The Client acknowledges and accepts a) the risk of mistakes or misinterpretations in the orders sent through the Trading Platform due to technical or mechanical failures of such means, b) the risk of delay or other problems as well as c) the risk that the orders may be placed by unauthorized persons and agrees to indemnify the Company in full for any loss incurred as a result of acting in accordance to such orders. The Client accepts that during the execution of his order, the Company shall have no responsibility as to its content or the identity of the person placing the order, except for gross negligence, willful default or fraud by the Company.
The Client acknowledges that the Company will have the right, at any time and for any reason and without justification, at its sole discretion, to refuse to execute orders, including, without limitation, in the following circumstances:
Any such refusal by the Company shall not affect any obligation, which the Client may have towards the Company.
Funds belonging to you that will be used for trading purposes will be kept in an account with any bank or financial institution used to hold or deposit funds which the Company will specify from time to time and will be held on clients’ denoted accounts under the Company’s name. It is noted that the Company’s own funds are kept on separate accounts from the clients’ funds.
It is commonly understood that any amount payable by the Company to you, shall be paid directly to you to a bank account the beneficial owner of which is you. Fund transfer requests are processed by the Company on the same day which the request was received or the next working day if the client’s request is received outside of normal trading hours and the time needed for crediting into your personal account will depend on your bank account provider. The Company shall ensure that withdrawal requests are processed on the same day which the request was received or the next working day if the client’s request is received outside of normal trading hours.
The Company retains a right of set off and may, at its discretion, from time to time and without your authorization, set-off any amounts held on behalf and/or to the credit of you against your obligation to the Company. Unless otherwise agreed in writing by the Company and you, this Agreement shall not give rise to rights of credit facilities.
You have the right to withdraw the funds which are not used for margin covering, free from any obligations from your Account without closing the said Account.
The Company reserves the right to decline a withdrawal request if the request is not in accordance with certain conditions mentioned in this Agreement or delay the processing of the request if not satisfied on full documentation provided.
It is within your terms that any incurring bank fees will be paid by you in case of funds withdrawals from your trading account to your designated bank account. You are fully responsible for the payment details that you provided to the Company and the Company accepts no responsibility if you have provided false or inaccurate bank details.
You agree that any amounts sent by you in the Company’s bank accounts, will be deposited to your trading account at the value date of the payment received and net of any charges/fees charged by the Bank Account providers or any other intermediary involved in such transaction process. In order for the Company to accept any deposits by you, the identification of the sender must by verified and ensure that the person depositing the funds is you. If these conditions are not met, the Company reserves the right to refund the net amount deposited via the method used by the depositor.
The Company reserves the right to decline a withdrawal with specific payment method and to suggest another payment method where you need to complete a new withdrawal request. In the event that the Company is not fully satisfied with the documentation provided in relation to a withdrawal request, the Company can request for additional documentation and if the request is not satisfied, the Company can reverse the withdrawal request and deposit the funds back to your trading account.
In the event that any amount received in the Bank Accounts is reversed by the Bank Account provider at any time and for any reason, the Company will immediately reverse the affected deposit from your trading account and further reserves the right to reverse any other type of transactions effected after the date of the affected deposit.
You agree to waive any of your rights to receive any interest earned in the funds held in the Bank Account where your funds are kept.
For the purposes of safeguarding Client money, according to the applicable legal framework, the Company:
The financial institution where segregated client funds will be kept may be within Saint Vincent and the Grenadines or within good repute Banking Institution. It should be noted that the applicable legislation applied to such financial institutions outside of Saint Vincent and the Grenadines may be different from the applicable legislation in SGV. In the event of insolvency, your funds may be treated differently from any treatment applicable to funds held in segregated accounts in good repute Banking Institution.
The Client’s Trading Account shall be activated upon the deposit of funds.
The Client is able to deposit funds into his/her account at any time during the course of business relationship. Deposits can be made through a number of methods as specified on the Company’s Website, which may be changed at the Company’s discretion. When making a deposit, the Company shall credit the Client’s Trading account with the relevant amount.
The Company prohibits third party or anonymous payments into the Client’s trading account. Only funds sent from an account held in the Client’s name and belonging to the Client are acceptable. The Company reserves the right at its discretion, if it has identified third party or anonymous deposits, to block the account. The Client should note that any remaining funds will be returned to the third-party source via the same payment method and any profits accumulated by the Client using third party or anonymous funds will not be made available to the Client.
The Company reserves the right to request documentation to confirm the source of funds deposited into the Client’s account in accordance with its legal and regulatory obligations.
Once a withdrawal request has been submitted, it will be processed on the same day or next business day if the request was received outside of normal trading hours. Once the request has been approved, please allow an additional 3-7 days for the funds to show in your account.
The client will be duly notified by email regarding the cancellation of his/her withdrawal request. The Company will process withdrawals upon receiving a request through the Client’s platform or via e-mail. When requesting a withdrawal, the Client should note that the withdrawal of funds will be sent back to the same account via the same method from where the initial deposit was received The Client is able to request any profit (above his deposit amounts) through other available methods, as long as the account the withdrawal is to be made belongs to the Client.
Withdrawals can only be requested to accounts in the Client’s name. No withdrawals will be processed to third party or anonymous accounts.
In case the Client performs a withdrawal request without any trading activity from the last deposit made or if any other form of abuse is found the company reserves the right to charge the Client the equivalent amount of any deposit fees incurred, or 3% of the total withdrawal amount.
The Company will quote prices at which it is prepared to deal with you. Save where:
it is your responsibility to decide whether or not you wish to deal at the price quoted by the Company. The Company’s prices are determined by the Company in the manner set out in the enclosed terms.
Each price shall be effective and may be used in a dealing instruction prior to the earlier of its expiration time and the time, if any, at which it is otherwise withdrawn by the Company. A price may not be used in a dealing instruction after such time. Each price shall be available for use in a dealing instruction for a transaction with a principal amount not to exceed a maximum determined by the Company. You acknowledge that these prices and maximum amounts may differ from prices and maximum amounts provided to other customers of the Company and may be withdrawn or changed without notice. The Company may in its sole discretion and without prior notice to you immediately cease the provision of prices in some or all currency pairs and for some or all value dates at any time.
When the Company quotes a price, market conditions may move between Company’s sending of the quote and the time your order is executed. Such movement may be either in your favor or against it. Prices that may be quoted and/or traded upon, from time to time, by other market makers or third parties shall not apply to trades between the Company and you.
The Company shall proceed to a settlement of all transactions upon execution of such transactions. Acquisition of a financial contract is completed when the financial contract has been customized, the premium (or the margin, as the case may be) has been calculated and payment has been verified. You agree to be fully and personally liable for the due settlement of every transaction entered into under your account with the Company.
The Company offers the client the ability to cancel trades within 3 seconds of opening the position, if the client finds the position to be undesirable.
Through one or more of its Services, the Company makes available to the Client a wide range of financial information that is generated internally, from agents, suppliers or partners (“Third Party Providers”). This includes, but is not limited to financial market data, quotes and news, analyst opinions and research reports, graphs and data (“Financial Information”).
The financial information provided on the Company’s website is not intentional investment advice. The Company and its Third-Party Providers do not warrant the accuracy, timeliness, completeness or correct sequencing of the financial information, or results of your use of this financial information. The financial information may promptly become unreliable for various reasons, including, for instance, changes in market conditions or economic circumstances.
It is your responsibility to verify the reliability of the information on the Company’s website and its suitability for your needs. We exclude all liability for any claim, damage or loss of any kind caused by information contained in the Company’s website or referenced by the Company’s website.
The Client approves and accepts that any oral information given to him/her in respect of his Trading Account might be partial and unverified. The Client accepts sole risk and responsibility for any reliance on the aforementioned information. The Company does not give any warranty that pricing or other information supplied by it through its trading software or any other form is correct or that it reflects current market conditions.
It shall be noted that the due to market conditions and fluctuations, the value of Financial Instruments may increase or decrease, or may even be reduced to zero. Regardless of the information the Company may provide to you, you agree and acknowledges the possibility of these cases occurring.
The Client acknowledges that they fully understand the risks involved in trading CFDs (and other similar products), including, but not limited to, the risk of loss of all funds including the entire balance of the Client’s account when the Client selects the option to use his available balance in order to keep his CFD position open or when the transaction of the client will result in loss.
CFD Trading does not give you any right to the underlying instrument of the Transaction. This means that you do not have any interests in, or the right to purchase any underlying shares in relation to such instruments because the CFDs represent a notional value only.
You are aware and acknowledge that there is a great risk of incurring losses and damages as a result of the investment activity (purchase and/or sale of Financial Instruments) through the Company and the Company’s Trading Platform and accepts that you are willing to undertake this risk upon entering into this business relationship.
You declare that you have read, understood and unreservedly accepted the following:
The maximum loss that may be incurred by any customer is the amount of money paid by them to the Company including rolling fees for day trade deals.
Each financial contract purchased by a customer via the Company’s website is an individual Agreement made between that customer and the Company, and is not transferable, negotiable or assignable to or with any third party.
By accepting this Agreement, you consent that you have read and accepted the terms of the “Risk Disclosure” that the Company has adopted as this policy is mentioned in detail in the Company’s main website public and available to all Clients.
The Client shall be obliged to pay to the Company the commissions, charges and other costs as agreed with you from time to time. The Company will provide to the Client an itemized breakdown of the total commissions, costs and charges at the request of the Client.
The client may be required to pay commission or financing fees, the amount of which is disclosed on the Company Website. More information regarding costs are included in the Key Information Documents are available in the Company’s website.
Commissions may be charged either in the form of a percentage of the overall value of the trade or as fixed amount. The value of opened positions in some types of CFDs is increased or reduced by a daily swap rate throughout the life of the contract. Swap rates are based on prevailing market interest rates, which may vary over time. For all types of CFDs that the Company offers, the commission and financing fees are not incorporated into the Company’s quoted price and are instead charged explicitly to the Client account. Any commissions or fees which the Company receives or pays will be affected according to the provisions of Applicable Regulations.
The Client is hereby informed that in the event where the Client has been introduced to the Company by a partner (Introducer and/or Affiliate) of the Company’s partners and/or of the Company and/or any third party, the Company may pay a fee and/or commission to those partners and/or the partner directly, for services rendered calculated on the basis of the volume traded by the Client and/or otherwise and/or on the basis of the agreement concluded between the two parties. Upon request from the Client, the Company shall disclose further details.
The company is not a tax agent and thus shall not provide clients’ financial information to any third parties. This information will not be disclosed unless officially requested by government authorities. Client irrevocably accepts full responsibility for his/her actions according to current tax legislation valid at the place of residence/living of the Client regarding any performed Transactions, included but not limited to revenue/income tax.
All payments to the Company under this Agreement shall be made in such currency as the Company may from time to time specify to the bank account designated by the Company for such purposes. All such payments shall be made by the Client without any deduction or withholding.
It shall be noted that the Company and any entity related to the Company, will perform transactions in good faith and with proper due diligence but shall not be held liable for any omission, deliberate omission or fraud by any person, firm or company from whom the Company receives instructions for the execution of the Orders and/or from which transactions are carried out on behalf of you, including where this would be the result of negligence, deliberate omission or fraud on the part of the Company.
The Company will not be held liable for any lost opportunities by you that have resulted in either losses or reduction (or increase) in the value of your Financial Instruments.
In case the Company incurs any claims, losses, damage, liability or expenses that arise throughout the provision of the Services and all related operations that are performed as a mean for these Services to be performed to you as these are agreed in this Agreement or in relation to the potential disposal of your Financial Instruments, you are fully liable for these losses/expenses/liabilities/claims whereas the Company bears absolutely no responsibility and it is therefore your responsibility to indemnify the Company for the aforementioned.
The Company shall not be held liable for any damage caused to you as a result of any omission, negligence, deliberate omission or fraud by the bank where the Company’s bank account is maintained.
The Company shall not be held liable for the loss of Financial Instruments and funds of you in cases where your assets are kept by a third party such as a bank, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by you, of any change in the said information.
The Company makes every effort to ensure that the Banks and institutions to which your funds and/or Financial Instruments are deposited are of good standing and reputation. However, the Company shall not be held liable in the event of a loss resulting from deterioration of the financial standing of a bank or institution, or for an event such as a liquidation, receivership or any other event that causes the Bank or institution of a failure and therefore leads to a loss of all or part of the funds deposited.
Without prejudice to any other terms of this Agreement, the Company will not be liable for:
The Company shall not be liable to you for any partial or non-performance of its obligations hereunder by reason of any cause beyond reasonable control of the Company, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or principal of the Company’s custodian, sub-custodian, dealer, Market, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations.
Neither the Company nor its directors, officers, employees, or agents shall be liable for any losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under this Agreement (including any Transaction or where the Company has declined to enter into a proposed Transaction). In no circumstance, shall the Company have liability for losses suffered by you or any third party for any special or consequential damage, loss of profits, loss of goodwill or loss of business opportunity arising under or in connection with this Agreement, whether arising out of negligence, breach of contract, misrepresentation or otherwise.
You shall pay to the Company such sums as it may from time to time require in or towards satisfaction of any debit balance on any of your accounts with the Company and, on a full indemnity basis, any losses, liabilities, costs or expenses (including legal fees), taxes, imposts and levies which the Company may incur or be subjected to with respect to any of your accounts or any Transaction or any matching Transaction on a Market or with an intermediate broker or as a result of any misrepresentation by you or any violation by you of your obligations under this Agreement (including any Transaction) or by the enforcement of the Company’s rights.
You acknowledge that you have not relied on or been induced to enter into this Agreement by a representation other than those expressly set out in this Agreement. The Company will not be liable to you for a representation that is not set out in this Agreement and that is not fraudulent.
This Agreement shall be valid for an indefinite time period until its termination from either the Company or you or both.
The Agreement may be amended on the following cases:
Each Party shall be entitled to terminate this Agreement with immediate effect by giving to the other Party a written notice. Upon termination of this Agreement, the Company will be entitled without prior notice to the Client to cease to grant the Client access to the Trading Platform. All Client’s Open Positions shall be closed by the date of termination without derogating all the provision aforementioned therein, including charges, fees and penalties.
The Company may terminate the Agreement immediately without giving any notice to the client in the following cases:
The Client is required to provide the Company with full and updated Due Diligence Documents (KYC Documents) at all times. The Company shall notify the Client about any expired documents through different means of communication. If the Client does not provide valid and updated information within fifteen (15) calendar days after the documents have expired, the account(s) will be set to Close Only Mode (the Client will not be permitted to open any new Transactions or increase exposure under existing Transactions, but the Client will be permitted to close, partially close or reduce exposure, under existing Transactions).
The Client will be able to re-activate its Client accounts and resume trading once updated Client Identification and Due Diligence Documents are provided and accepted by the Company.
In the case that the Client does not provide requested updated documents within 60 calendar days period since the date the account(s) has been transferred to Close Only Mode:
The termination of the Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, you shall pay:
In case of breach by you of this Agreement the Company reserves the right to reverse all previous transactions which place the Company’s interests and/or all or any its clients’ interests at risk before terminating the Agreement.
The following shall constitute “Events of Default” on the occurrence of which the Company shall be authorized to exercise its rights in accordance with Paragraph below:
On the occurrence of an Event of Default the Company shall be entitled to take, in its absolute discretion, any of the following actions at any time and without giving prior notice to you:
You acknowledge and accept that your personal data will be collected, stored and processed by the Company according to all the relevant laws and regulations the Company needs to abide with.
Client information which the Company holds is to be treated by the Company as confidential and will not be used for any purpose other than in connection with the provision, administration and improvement of the Services, for Research and Statistical purposes and for Marketing purposes, if the Client’s consent is obtained.
The Company will not disclose information and details about its Clients, unless so required by the Law or a Competent Authority. For more details please refer to the Company’s Privacy Policy which forms a part of this Agreement as a whole.
You acknowledge that the Company might record telephone conversations between you and the Company without use of a warning tone to ensure that the material terms of the Transaction, and any other material information relating to the Transaction is promptly and accurately recorded. Such records will be the Company’s sole property and accepted by you as evidence of the Orders or instructions given.
The Client accepts that the Company may, for the purpose of administering the Terms and Conditions of the Agreement, from time to time, make direct contact with the Client by Telephone, Fax, or otherwise
Under Applicable Regulations, the Company will keep records containing Client Personal Data, Trading Information, Account opening documents, Communications and anything else which relate.
Telephone conversations between the client and the Company may be recorded. All instructions received by telephone will be binding as if received in writing. Any recordings shall be and remain the sole property of the Company and will be accepted by client as conclusive evidence of the instructions or conversations so recorded. The Client agrees that the Company may deliver copies of transcripts of such recordings to any court, regulatory or government authorities to the Client for at least five years after Termination of the Client Agreement.
The Parties agree to keep confidential and not to disclose to any third party any confidential information given by the other Party under this Agreement including without limitation all the communication, documentation or other information exchanged between them, both during the term of the Agreement as well as after its termination.
The Company has the right, without prior notice to the Client, to disclose personal data or details of the transactions of the Client in order to comply with the requirements of the regulatory authorities in the Republic of Saint Vincent and the Grenadines or abroad. The Company may also disclose such information to its auditors/consultants provided if they are informed and committed to the confidentiality of the information communicated.
The Company will handle all Clients’ personal data according to the provisions its Privacy Policy and the provisions of the GDPR and all applicable laws and regulations for the protection of personal data as this may be amended from time to time;
Subject to any specific provision to the contrary in this Agreement, the Client may communicate with the Company by mail, email or support channels via company’s official website www.gbxmarkets.com. The official communication language of the Company is English. It should be noted that all documents and information provided by the Company shall be in English, if the Company provides such information in any languages other than English, it does so for informational purposes only. The Company will not be legally responsible or liable regarding the accuracy of the translated information. It is advised that the Client refer to the English version of such information/documentation
Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other communications to be given to the Company by you under the Agreement shall be performed electronically and shall be sent to the Company’s mailing address as indicated in the Company’s website or to any other address which the Company may from time to time specify to you for this purpose and shall take effect only when actually received by the Company, provided they do not violate and are not contrary to any term of this Agreement.
The Company reserves the right to specify any other way of communication with you. The Agreement is personal to the Client who does not have the right to assign or transfer any of his rights and/or obligations hereunder.
You acknowledge that no representations were made to you by or on behalf of the Company which have in any way incited or persuaded you to enter into the Agreement.
In case any provision of the Agreement is or becomes, at any time, illegal void or non-enforceable in any respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
You shall take all reasonably necessary measures (including, without prejudice to the generality of the above, the execution of all necessary documents) so that the Company may duly fulfil its obligations under the Agreement.
The location of detailed information regarding the execution and conditions for the investment transactions in Financial Instruments conducted by the Company and other information regarding the activity of the Company are accessible and addressed to any natural persons and legal entities at the Company’s website over the Internet.
All rights in patents, copyrights, design rights, trade marks and any other intellectual property rights (whether registered or unregistered) relating to the Electronic Services remain vested in us or our licensors. You will not copy, interfere with, tamper with, alter, amend or modify the Electronic Services or any part or parts thereof unless expressly permitted by us in writing, reverse compile or disassemble the Electronic Services, nor purport to do any of the same or permit any of the same to be done, except in so far as such acts are expressly permitted by law. Any copies of the Electronic Services made in accordance with law are subject to the terms and conditions of this Agreement. You shall ensure that all the licensors trademarks and copyright and restricted rights notices are reproduced on these copies. You shall maintain an up-to-date written record of the number of copies of the Electronic Services made by you. If we so request, you shall as soon as reasonably practical, provide to us a statement of the number and whereabouts of copies of the Electronic Services.
If any provision in the Agreement and/or this Annex or its implementation towards any person or in any circumstance shall be invalid, illegal or unenforceable, the remainder of the Agreement and its implementation shall not be affected and will be enforceable in any manner allowed by law.
The Company shall not be liable to the Client for any failure, hindrance or delay in performing its obligations under this agreement where such failure, hindrance or delay arises directly or indirectly from circumstances beyond its reasonable control. Such force majeure events shall include without limitation any technical difficulties such as telecommunications failures or disruptions, declared or imminent war, rebellion, civil unrest, natural disasters, statutory provisions, measures taken by authorities, strikes, lockouts, boycotts, blockades or discontinuance or suspension of the operation of any Market.
The Company does not bear responsibility for not fulfilling (improperly fulfilling) of its obligations when prevented from doing so by uncontrollable circumstances.
The Agreement shall be personal to the Client and the Client shall not be entitled to assign or transfer any of his/her rights or obligations under this Agreement.
The Company may at any time assign or transfer any of its rights or obligations under this Agreement to a third party. The Company shall notify the Client of any such assignment.
