Terms & Conditions

Please review this document carefully before using any of the services available on www.glstockllc.com.

This Terms of Service Agreement (this “Agreement”) states the terms and conditions upon which GLStock, an international business company with registration number 93614 (“the Company”, “we” or “us”), will provide services to you on the glstockllc.com website (the “Service”). This Agreement enters into force between you, as the customer, and the Company. By visiting the Company’s website or accessing the Service, you express your understanding and acceptance of these terms. As used in this document, the terms “the Client”, “you” or “your” refer to you, any entity you represent, your or its representatives, successors, assigns and affiliates, and any of your or their devices. If you do not agree to be bound by these terms, please cease using the Service immediately and inform us of your disagreement.

Eligibility

You acknowledge and understand that your technical ability to access the Service does not necessarily mean that you are eligible to use it.

You must be over eighteen (18) years of age to use the Service, unless the age of majority in your jurisdiction is greater than eighteen (18) years of age, in which case you must be at least the age of majority in your jurisdiction. By entering into this Agreement, you confirm and warrant that you are at least the minimum age required by the preceding sentence. The Company reserves the right to ask you for proof of age, and your account may be suspended until satisfactory proof of age has been received.

Use of the Service is not permitted in countries where the given type of financial operation is prohibited. Use of the Service is not permitted if you are located in, or are a resident or citizen of, the United States of America. By entering into this Agreement you represent and warrant that:

you are a resident of a country in which the use of the Service is not prohibited; and
you are not located in, and are not a resident or citizen of, the United States of America.

For more information, please see the Risk Statement section below.

Grant of Use; Termination

We grant you a non-exclusive, non-transferable and limited right to access, non-publicly display, and use the Service, including all content and services available therein (the “Content”), on your computer, consistent with this Agreement (the “Grant”).

The Grant is terminable (including by way of partial termination or limitation) by the Company at will, for any reason and at our sole discretion, with or without prior notice. Upon termination, the Company may:

delete or deactivate your Account;
block your e-mail address and/or IP addresses, or otherwise terminate your use of the Service;
take any other action to prevent your use of the Service.

Upon termination of the Grant, all other contractual provisions between you and the Company, and this Agreement itself, continue in full force and effect.

The Grant shall also terminate automatically upon the occurrence of any of the following:

your breach of this Agreement;
the failure of any of your representations and warranties given in this Agreement;
your filing for bankruptcy, or the appointment of a trustee or receiver over all or substantially all of your assets;
your death or legal incapacitation;
your dissolution as a legal entity (if you represent a legal entity);
your refusal to provide or to prove any information requested by the Company in accordance with this Agreement.

Accounts. The Service. Transactions.

Opening and Maintaining an Account

You must create an account on the Service (an “Account”) in order to use the Service. By entering into this Agreement you represent and warrant that all information you provide to us when creating your Account is complete and accurate. You shall update such information whenever it changes, or at the Company’s request.

By creating an Account on behalf of a company or other entity, you represent and warrant that you have the authority and capacity to enter into this Agreement and to bind that entity on its behalf.

You shall not use another person’s or entity’s Account without authorisation. You are solely responsible for maintaining the confidentiality of your Account and for restricting access to it, and you are solely responsible for all activity that occurs under your Account. You shall notify us immediately of any breach of security or unauthorised use of your Account. Pursuant to the terms herein, and without limiting the indemnification and limitation of liability provisions set out below, the Company shall not be liable for any losses resulting from any unauthorised use of your Account, and you hereby indemnify us and hold us harmless in respect of any such unauthorised use.

You may hold only one Account. You may not share an Account with any other person or entity. If you wish to open additional trading accounts, you should contact your account manager.

If the Company has reasonable grounds to believe that an Account has been opened with the intention of committing fraud, and/or that multiple accounts have been created without the approval of an account manager, the Company reserves the right to cancel any transaction related to that Account.

You authorise the Company, directly or through third parties, to make at any time any enquiries we consider necessary in order to validate your identity. This may include asking you for further information, requiring you to provide personal information and other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your e-mail address or financial instruments, or verifying your information against third-party databases or through other sources. We may also request to see your passport or other identifying documents at any time.

Swap-Free (Islamic) Accounts

We offer Islamic CFD accounts, also known as swap-free CFD accounts, because within this kind of account no swap or roll-over interest is charged on, or incurred by, positions held overnight. These accounts comply with Islamic religious principles, according to which any business transaction in which one of the parties has to pay or receive interest from another party is forbidden.

Swap-free accounts shall be used strictly in good faith and for reasons of Muslim religious compliance only. We reserve the right to require adequate justification for, and/or proof of the necessity of, any such conversion. Furthermore, we reserve the right to refuse to process any such request at our own discretion, without being obliged to provide any explanation or justification.

You acknowledge that the use of swap-free trading accounts in order to profit from swaps is not permitted. We reserve the right to revoke the swap-free status granted to any trading account at any time and at our own discretion, without being obliged to provide any explanation or justification.

In the event that we detect any form of abuse, fraud, manipulation, interest or cashback arbitrage, or any other form of deceitful or fraudulent activity in connection with a swap-free account, we reserve the right, at any time:

to revoke, with immediate effect, the swap-free status of any trading account held by that client;
to correct and recover any un-accrued swaps and any related un-accrued interest expenses and/or costs pertaining to any of that client’s swap-free accounts for the period during which those accounts were converted into swap-free accounts;
to close, with immediate effect, all trading accounts held by that client with us, to nullify all trades carried out in those accounts and to cancel all profits garnered in them.

We may change, modify or amend the swap-free account policy described above, in part or in full, at our own discretion and without being obliged to provide any explanation or justification.

The Service and Your Transactions

The Service allows you, inter alia, to engage in transactions based on certain assets, including currencies, financial instruments that are defined as CFDs (contracts for difference) and other securities. You acknowledge and understand that you engage in every action, omission, purchase, sale, trade or other transaction (hereafter “Transactions”) on the market as a principal, and that we do not act as your agent on the Service in any financial or trading operation. You acknowledge that you are directly and fully responsible for fulfilling all of your obligations in respect of your Transactions carried out on the market with the help of the Service.

After completion of all security and identification procedures associated with the Service, we will grant you access to the Service unless agreed or stated otherwise. All references to our hours of trading are given in Greenwich Mean Time (“GMT”) using the 24-hour format. Our Service is normally available continuously from 22:00 GMT on Sunday until 22:00 GMT on Friday (winter time), or from 23:00 GMT on Sunday until 23:00 GMT on Friday (Daylight Saving Time) each week, excluding public holidays on which the financial markets do not operate and cases in which the market is closed due to a lack of liquidity in the financial instruments concerned. Please check our website for further details of operating times for each financial instrument in each period of time. We reserve the right to suspend or modify the operating hours at our own discretion, and in such an event our website will be updated in order to inform you accordingly.

Clients have the possibility of executing trading operations by telephone during trading hours, as described in the subsection “Dealing by Telephone” below.

You understand and acknowledge that the Company may close transactions in contracts for difference using the last price available on the market on the day on which the contract expires. The closing time is specified on the Company’s website.

Spreads

The Company offers its Clients different types of spreads according to the type of the account.

The Company offers a fixed spread on the web platform. The fixed spread changes depending on the time and on market conditions.

The Company offers a floating spread on the desktop trading terminal. A floating spread on the CFD market means a constantly changing value between the Ask and the Bid price, which depends on market volatility and liquidity.

Timeframes and Open Positions

You acknowledge that the minimum timeframe for manual execution of a transaction on the web platform is 3 minutes. We reserve the right to cancel transactions in cases where the timeframe between the opening of the transaction and its manual closure was less than 3 minutes. There is no minimum timeframe for open positions on the desktop trading terminal.

The maximum period for keeping an open position on the web platform is 21 days. We reserve the right to close your transactions with positions that have remained open for more than 21 days. If an order was opened on a contract with a specific expiration date, that order will be closed in 21 days or on the contract’s expiration date, whichever event occurs earlier.

Stop-Out Levels

The stop-out level is the level at which open positions are closed automatically in order to prevent further losses and to prevent an account from entering a negative balance.

On the desktop trading terminal, the stop-out level is calculated as: (equity / used margin) * 100%. The default stop-out level on the desktop terminal is equal to 50% for minimal and standard types of accounts, and is equal to 80% for gold and platinum types of accounts.

On the web platform, the stop-out level is calculated as: the real funds on your account at the given moment in time, taking into account the open (floating) loss and/or profit positions, divided by the financial result of the trading account without taking into account the open positions, * 100%. The default stop-out level on the web platform is equal to 0%.

The Company reserves the right to change the stop-out level at its sole discretion, without notice and with immediate effect, in view of market conditions.

Lot Sizes

The thresholds for the minimum and maximum sizes of lots depend on the type of the account, as specified on the Company’s website. We reserve the right to change the thresholds for the minimum and maximum sizes of lots at our sole discretion.

Acknowledgement of Loss

You understand and acknowledge that you may lose money as a result of your use of the Service (including as a result of your execution of Transactions), and that you take sole responsibility for such losses.

Your use of the Service is strictly limited by the terms of this Agreement (including any documents referenced or incorporated herein) and by the technical limitations placed on the Service.

Execution-Only Basis

The Service carries out your Transactions on an execution-only basis. We and the Service are entitled to execute your Transactions even if a Transaction is not beneficial to you. We do not and will not manage your Transactions, nor will we advise you on your Transactions. You understand and acknowledge that we assume no responsibility whatsoever for your Transactions, and that we assume no responsibility whatsoever for monitoring your Transactions. If at any time we choose, in our sole discretion, to monitor your Transactions for any reason, we still assume no responsibility for your Transactions and have no obligation to advise you regarding them. Without limiting the foregoing, we are under no obligation to make margin calls or to close out any of your open positions.

Dealing by Telephone

Customers are given the opportunity to perform trading operations by telephone during trading hours.

In order to execute trading operations over the telephone, the Company’s employees may provide technical assistance to Clients in opening, closing or changing the parameters of transactions (take profit, stop loss) on behalf of Clients. If customers do not agree with the use of this facility, they may notify the Company or simply refrain from using it.

In order to open, close or change a transaction, or to request that an order be set, the Customer must contact the Customer Support department (the account manager).

The Client also has the right to ask the Company to provide regular technical assistance in opening, closing or changing transactions by telephone. In this case, the Company’s account manager maintains regular telephone communication with the Client in order to assist the Customer in performing transactions.

When opening transactions by telephone, you need to:

identify yourself by providing your surname, first name, patronymic and account login;
if necessary, answer the control question (date of birth, and other personal data provided to the Company by the Client);
confirm the conditions on which the transaction is to be opened (option type, position size, direction, expiry of the option), the direction of the transaction (sell or buy), and take profit and stop loss levels if necessary. The account manager reports the current rate of the asset to the Client and obtains the Client’s consent to the opening of the transaction at the specified rate.

When closing transactions by telephone, you need to:

identify yourself by providing your surname, first name, patronymic and account login;
if necessary, answer the control question (date of birth, and other personal data provided to the Company by the Client);
accurately specify the transaction that needs to be closed.

When changing transactions by telephone, you need to:

identify yourself by providing your surname, first name, patronymic and account login;
if necessary, answer the control question (date of birth, and other personal data provided to the Company by the Client);
accurately specify the transaction whose parameters you want to change, and specify what changes need to be implemented.

Before entering into transactions by telephone, the margin balance required to open a trade should be checked.

In order to ensure the quality of service, telephone calls may be recorded. You agree and acknowledge that all conversations between you and the Company’s staff may be recorded without prior warning, and that these recordings and their transcriptions may be used as evidence in any subsequent dispute.

The Client agrees that, where transactions are opened, closed or changed remotely, fluctuations in the rate of the asset may occur between the moment at which the Client’s instruction or consent is given and the moment at which it is carried out. The Client accepts these terms and undertakes not to bring any claim in respect of such fluctuations where transactions are opened, closed or changed remotely.

Confirmation of the execution of the Client’s instructions when opening, closing or changing transactions consists, for the Company, of the Client’s agreement to this remote method of dealing, expressed through acceptance of the terms of this Agreement, together with the recording of the telephone conversation with the Client.

The use of the method of performing trading operations described in this subsection does not result in the conclusion of any separate contract between the Company and the Client, including any contract of trust management or similar arrangement. All trading operations performed with technical assistance from the Company are made by the Client and at the Client’s own discretion. The Company, as in all other cases, is not responsible for the results of these transactions.

Pricing, Settlement and Mispriced Transactions

The calculation of the prices, payouts or losses related to Transactions at the time a Transaction is opened and closed is based on our estimate of actual market prices and of the expected level of interest rates, implied volatilities and other market conditions during the life of the Transaction. These values are based on complex arithmetic calculations as determined by us in our sole discretion. These calculations include a spread in our favour, which means that the values involved may differ substantially from prices available on primary markets where similar transactions are conducted.

We do not support physical delivery of currency (or of any other securities) in the settlement of any Transactions. Any gains or losses you experience as a result of a Transaction will be credited to or debited from your Account after the Transaction has been completed.

You acknowledge and agree that, in the event that any Transaction is completed at prices that do not reflect actual market prices for any reason — including an undetected programming error or glitch, or any other reason resulting in a mispricing — we reserve the right to cancel or roll back such Transactions.

Restrictions on Use of the Service and Transactions.

You, your Transactions and your use of the Service must satisfy all of the following terms, conditions and restrictions (the “Use Restrictions”):

You may not cheat, defraud or mislead the Company in any manner.
You may not use the Service in any manner that we have not explicitly allowed and intended you to use it.
You may not disable, circumvent or otherwise interfere with security-related features of the Service, or with features that enforce limitations on the use of the Service.
You may not use the Service for any illegal activity.
You may not deposit or otherwise transfer into the Service and/or your Account any funds which have originated from any illegal activity.
You may not use any software viruses or any computer code, file or program designed to interrupt, destroy, limit or monitor the functionality of any computer software, hardware or telecommunications equipment in connection with your use of the Service.
You may not use the Service in any way that may expose us to criminal or civil liability in any jurisdiction.
You may not take any action that imposes, or may impose in our sole discretion, an unreasonable or disproportionately large load on our technology infrastructure, or that otherwise makes excessive demands on it.
You may not resell or permit access to the Service to any third party, nor copy any material accessible on the Service for resale or for any purpose other than your own use of the Service.
You may not use the Service for any purpose which may be tortious, abusive, intrusive of another’s privacy, harassing, libellous, defamatory, obscene, threatening, hateful or otherwise inappropriate, unlawful or criminal.
You may not furnish any false or incorrect data or information in connection with the Service. You must keep all information held on the Service, or that you have otherwise provided to us, correct and up to date at all times.
You may not harass us, our employees, independent contractors or other agents in any manner.

You agree and acknowledge that we may use both manual and automated methods to ensure your compliance with the Use Restrictions. We retain the sole right, at our discretion, to determine whether you have complied with the Use Restrictions.

If we become aware of a possible violation of the Use Restrictions, or of any other violation of this Agreement, we may initiate an investigation into the possible violation. Such an investigation may include gathering information from you, from any complaining party and from any other material or source which we find to be reliable in our sole discretion. You agree to comply with all reasonable requests made by us in the course of our investigation of violations.

No current employee, and no former employee who works or used to work on a full-time or part-time basis for us or for any of our related entities, shall — during the term of that employee’s or former employee’s service to us or to any of our related entities, or after termination of that service — become a client of any brand of ours, whether directly or indirectly, alone or with partners, associates, affiliates or any other third party, without our prior written approval. Should we consider that an employee or former employee is trading with any brand of the Company without our prior written approval, whether personally and/or via a third party, we shall consider all such trading to be abusive and/or improper trading. In such circumstances, the employee’s or former employee’s trading account(s) and all open positions shall be closed immediately and any funds held within the account shall be confiscated.

We reserve the right to take appropriate action against you for any breach of the Use Restrictions or for any other unauthorised use of the Service, including civil, criminal and injunctive redress in addition to termination of the Grant. Any use of our computer systems not explicitly authorised by this Agreement is a violation of this Agreement and of certain domestic, foreign and international laws.

We reserve the right to cancel, roll back and/or close any Transactions which we determine, in our sole discretion, to have been made in violation of this Agreement (including the Use Restrictions). Without limiting the foregoing, if we believe that you have made repeated Transactions in violation of this Agreement (including the Use Restrictions), we may cancel, roll back and/or close all of your Transactions.

Content of the Service

When using the Service, you may be exposed to a variety of information, data and content from a variety of sources (hereafter “Content”). Content may include market information (“Market Information”) such as quotes, news, analyst opinions, research reports and graphs, as well as other information, data or content that we have drawn from third parties (“Third Party Content”).

Some of the services mentioned on the website and in promotional documents — in particular online webinars and free and paid Forex trading courses — are provided by a third party, and that third party is fully responsible for such services.

The Company does not control and is not responsible for any Third Party Content. All Content is presented to you solely for information purposes and on an “AS-IS” basis. The Company makes no representations or warranties as to the accuracy, timeliness, completeness or authenticity of any Content, and we shall not be liable for any liability arising from your use of any Content outside of the Service.

The Company assumes no responsibility for trading decisions you make as a result of reviewing any Content.

Market Information is not intended to be provided as investment advice. We do not endorse or approve any Market Information; we merely make it available to you for your own information and convenience for use on the Service.

We may link to third-party websites which are completely independent of us. We assume no responsibility for the accuracy of the content of such independent third parties.

We reiterate that all Content (including Market Information and Third Party Content) is provided to you “AS-IS” and for your use exclusively on the Service. Without limiting the foregoing, you acknowledge and understand that the Content may not correspond exactly with “real-world” values outside of the system. For example, the exchange rate listed for a pair of currencies on the Service may lag behind the actual “real-world” exchange rate for that pair of currencies. Market Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances. We undertake no obligation to update any Content (including Market Information), and we may discontinue offering any or all Content at any time and without notice.

You may not copy, reproduce, distribute, transmit, broadcast, display, sell, license or otherwise exploit the Content for any purpose whatsoever.

All Content, including Third Party Content and text, graphical images, photographs, music, videos, software, scripts, trademarks, service marks and logos, is subject to copyright, trademark and/or other proprietary rights under the laws of the applicable jurisdictions, including domestic laws, foreign laws and international conventions. Except as otherwise explicitly permitted, you agree not to copy, modify, publish, transmit, distribute, participate in the transfer or sale of, create derivative works from, or in any other way exploit, in whole or in part, any Content.

By using our services you agree to be bound fully by all of our terms and conditions. The Company may amend or revise this Agreement at any time by posting the amended terms on the website and, by continuing to trade through the platform, you affirm that you agree to be bound by future revisions. Whenever such changes to the terms and conditions of this website are made, the Company will post those changes on the website. All amended terms shall be effective 10 days after their initial posting on the website, or as of the first time that you use our services after those amendments were made, whichever is sooner. If you do not agree to be bound by changes to the terms and conditions of this Agreement, do not use or access our services, and inform us in writing immediately.

Deposits and Withdrawals

Deposits

In order to engage in Transactions, you must deposit funds into your Account (a “Deposit”). You may make a Deposit into your Account using any of the forms of payment made available on the Service from time to time and at our sole discretion. Without limiting the foregoing, we reserve the right to add or remove forms of making Deposits at any time.

All transactions are carried out in cash only. The Company does not accept deposits or cash withdrawals in cryptocurrency.

If at any time we allow you to make a Deposit in a base currency other than United States Dollars (“USD”), you acknowledge and understand that your card may be debited with additional amounts to cover exchange rates and credit card or charge card fees. Card payments are processed by the Company’s authorised payment service providers.

If at any time we allow you to make a Deposit by wire transfer, you may only ever use one bank account, which must be based in your country of residence and must be held in your name. An authentic SWIFT confirmation or transfer confirmation satisfactory to us must be sent to us evidencing any Deposit made by wire transfer. Your failure to submit such a confirmation may result in the return of any Deposit made by wire transfer.

If at any time you make a Deposit by any other method (including e-wallets, money transfer services and internet payment vendors), the Company assumes the right to implement any rules, provisions and regulations that we deem necessary with regard to such Deposits.

Payment Service Providers

You hereby acknowledge and confirm that the Company engages an independent third party or payment service provider for payment collection. You acknowledge and confirm that such a third party or payment service provider acts on your instruction in transferring the funds on your behalf to the Company, with no liabilities, obligations or warranties on its part. You agree and confirm that you have no right to claim any transferred funds from the third party or payment service provider in any way, under any title or in any circumstances.

You understand that any third party or payment service provider merely facilitates your business with the Company, and that you have not been offered any form of financial service by them. You understand that you should not use the third party or payment service provider, or its affiliates, as a financial services vehicle, but only as a conventional and trusted service provider that facilitates payment. You confirm that you will have no further or future claims against the third party or payment service provider once settlement has been made.

Funds in Your Account

The funds in your Account may change as a result of the Transactions you execute. You must use the funds in your Account to execute Transactions. When you execute a Transaction, funds are withdrawn from your Account in order to open a position. When your Transaction is completed, your profits or losses are applied to your Account.

The funds credited to your Account will be deposited into the Company’s bank accounts and with credit organisations in the territory of European and Asian countries (not in offshore zones), and may not be segregated from other funds, including our own funds or the funds of other users of the Service. You acknowledge and agree that we will not pay you any interest on the funds you have deposited into your Account, and that we may use your funds in any manner until such time as they are withdrawn by you in accordance with this Agreement.

Platform and Account Maintenance Fees

The Company may charge you for providing a trading platform and for managing your trading account. If no trading operations are performed on your account during a period of 90 consecutive calendar days, then starting from the 91st day the Company reserves the right to charge 5% of the account balance, but not less than 25 US dollars, for each calendar month. The specified fee is charged until operations on the relevant account are resumed.

Withdrawals

You may submit a request for a withdrawal of the funds in your Account (a “Withdrawal”). The Company reserves the right to execute a Withdrawal in any reasonable form at our sole discretion, in accordance with our policies and with anti-money laundering regulations. Unless otherwise consented to by us in our sole discretion, any funds from a Withdrawal must be returned using the same method by which the original funds were deposited into your Account (that is, funds deposited into your Account by wire transfer may only be withdrawn by transferring them back to the same bank account from which the wire transfer was made). We may impose limits on the amount of funds you may withdraw in any given period of time.

The Company shall remain liable for the repayment of funds to the Client in accordance with the Client’s withdrawal request even where the contractual relationship with the Client has been terminated.

The minimum withdrawal amount is $50.

In the event that fewer than 5 independent trades were made, the Account will be charged an additional fee of 5% of the withdrawal amount.

We may request additional documentation supporting your authentication prior to the execution of a withdrawal order, in accordance with the regulations of Anti-Money Laundering (AML) institutions or of credit card companies. In such a case, the provision of the requested information and documentation by the Client is a prerequisite for the execution of a withdrawal order.

We may perform some of our credit card clearing transactions through our affiliated companies.

We reserve the right to implement any other security and anti-money laundering rules, provisions and regulations that we deem necessary or desirable in order to prevent or limit money laundering, fraud or any other crime or action which we believe may expose us to liability or loss.

We may, in our sole discretion, refuse to process a Withdrawal request, or place a payment hold on part or all of the funds in your Account, for any reason, including where we have a reasonable suspicion that you have breached this Agreement.

Costs, Fees and Taxes

You agree that you shall pay all transaction costs, including currency exchange costs and wire fees. We reserve the right to invoice you for any transaction costs we incur as a result of your use of the Service.

The Client agrees and acknowledges the need to pay brokerage fees, spreads, rolling commissions, handling commissions and/or other fees and charges in accordance with the Company’s fee structure. We reserve the right to change the structure and amount of the fees at our sole discretion, without additional notification and with immediate effect.

You are solely responsible for the payment of all taxes, excise duties and other payments that you are required to pay under the legislation of your country of residence and that arise out of your use of the Service. Without limiting the foregoing, you agree that, where such a requirement arises out of the legislation of the country of your jurisdiction, the Company may withhold tax from the sums resulting from your activity with the Company. In this case, the Company reserves the right to withhold amounts in respect of such taxes, or to invoice you for any such applicable taxes, where this is required by the legislation of the country of your jurisdiction. Upon creation of your Account, or prior to the processing of a Withdrawal, we may require you to complete certain tax documents. We may withhold all funds in your Account until such time as you submit these documents to us. If you fail to submit these documents to us within sixty (60) days of receiving them, we may suspend your Account until such time as you submit them; alternatively, we may terminate your use of the Service.

You are solely responsible for maintaining, and for informing us of, the accurate details of your financial institutions. You acknowledge that you are solely responsible for mispayments (whether to or from us) arising from your provision of incorrect or obsolete information.

Set-Off and Amounts Owed to Us

If any funds are accrued to your Account (whether by a Deposit or by Transactions) and we subsequently determine that any of those funds accrued as a result of a breach of this Agreement, we may (without prejudice to any of our other rights) set off the amount of the funds accrued in breach, plus any related fees, against any funds remaining in your Account. In the alternative, we may send you an invoice for the set-off amount, and you shall pay that invoice no later than two (2) business days after the invoice date.

If, for any reason (including as a result of losses arising from Transactions), you are under an obligation to pay us an amount which exceeds the funds in your Account, we may send you an invoice for that amount, and you shall pay that invoice no later than two (2) business days after the invoice date.

If we determine, or form a reasonable belief, that you have been using the Service in breach of this Agreement (including in breach of the Use Restrictions), we may, in our sole discretion, terminate the Grant and withhold all funds that have accrued to your Account, including funds that you have deposited and any profits, bonuses or other amounts accrued as a result of Transactions.

Promotions and bonuses

General Conditions

The Company has the right to offer various promotions and bonuses to new clients as well as to existing clients.

The possibility of taking part in promotions and of obtaining a bonus is a privilege granted to the Client, and the Company may deny it to the Client at any time at its sole discretion.

The conditions applicable to promotions and bonuses are specified in this section as well as on the Company’s website.

In some cases, the Company has the right to provide bonuses to its clients on conditions agreed with those clients individually. The Company may also provide exclusive bonuses to certain VIP clients from time to time.

Bonuses are only transferred to a client’s account after the client has provided all the necessary identification documents.

The Company offers the following types of bonuses:

the deposit bonus;
the advance bonus.

a) Deposit Bonus

This bonus is provided by the Company to clients when the Client makes a deposit into his or her account. The amount of the bonus is determined by the Company as a percentage of the amount of money that the Client deposits.

This bonus presupposes that the Client will subsequently achieve a defined volume of trade. The volume of trade required for each $1,000 of bonus is as follows:

when receiving a bonus of up to $ 10,000, the amount of trade must reach $ 10,000,000 for every 1000 $ of the bonus money received;
when receiving a bonus from $ 10,000 to $ 30,000, the amount of trade must reach $ 20,000,000 for every $ 1000 of the bonus money received;
when receiving a bonus over $ 30,000, the amount of trade must reach $ 30,000,000 for every 1000 $ of the bonus money received.

In the event that the Client holds two or more accounts with the Company, the volume of trade required for the bonus must be reached on each account in accordance with the amount of the bonus transferred to that account. Withdrawal of the bonus and of the profit from trading is not permitted from any of the accounts until the volume of trade condition has been fulfilled on all of the trading accounts.

The volume of trade does not include transactions that are opened in a mixed way, scalping transactions, or transactions that last three minutes or less. In the event that there is no trading activity on the account for any period longer than three months, running from the moment the bonus is deposited until the moment at which the volume of trade must be reached, the Company has the right to debit the bonus money as well as the whole income earned on the client’s account during that period, without any notice to, or agreement from, the client.

In the event of any suspicion of fraud aimed at reaching the required volume of trade, or at misusing the bonus, the client’s trading account may be adjusted.

Withdrawal of the bonus and of the income from trading activity is not allowed until the volume of trade has been reached. Once the volume of trade has been reached, the whole balance of the account, together with the bonuses, deposits and income, may be withdrawn without any limitation. There are no time limits for reaching the volume of trade required for the bonus.

In the event that the Client withdraws money from the account before fulfilling the volume of trade conditions attached to the bonus, all open positions on the Client’s account are closed and the money left on the client’s account is cleared in accordance with the following formula:

Account balance = current account balance – the amount of the bonus or bonuses provided – the total income obtained by the client since the time the bonus was activated on all closed positions which were opened after the bonus had been activated (positive total income only).

If, during the bonus usage period, the account balance is less than the bonus amount, the Client will be able to withdraw funds only after the bonus has been fully worked out. The terms and conditions for working out a bonus are specified in this Agreement.

b) Advance Bonus

This bonus is provided by the Company to clients by agreement with those clients before they deposit funds into their accounts, but on the condition that they subsequently do deposit funds into the account.

When such a bonus is provided, the Company and the client agree upon:

the amount of the bonus;
the deadline by which the client shall deposit funds into the account (if this is not agreed upon, the client and the Company set this period at 7 calendar days);
the sum with which the client shall fund his or her account.

If the client does not deposit the required sum of money into the account in due time, the Company has the right to debit the advance bonus provided, as well as the whole amount of income obtained with the help of the Client’s account during the period from the provision of the advance bonus until the debiting of the bonus money by the Company.

Until the client deposits the agreed sum of money into the account, or until the bonus is debited by the Company, the client’s account is blocked by the Company.

The trade volume conditions for the advance bonus are the same as those for the deposit bonus. The Company has the right to change and/or cancel the bonus and special offers programme at any time.

Other Special Offers

The conditions of the special offers and bonuses provided by the Company are defined by the Company, and clients are informed about them additionally. If no other conditions are agreed between the Company and the client, and the offer concerns money bonuses for clients, the conditions regarding the amount of trade, the possibility of withdrawing money from the account and other rules are determined in the manner provided for the deposit bonus.

Privacy Policy

The Company adheres to its Corporate Policy on the protection of personal data. By accepting this Agreement, you agree to that policy.

We maintain a separate Privacy Policy, which is incorporated herein by reference, and your assent to this Agreement also signifies your assent to the Privacy Policy. We reserve the right to amend the Privacy Policy at any time by posting such amendments to the Service. Your continued use of the Service following such amendments constitutes your acceptance of them, regardless of whether you have actually read them.

The Client gives consent to the processing of his or her personal data. The processing of personal data shall be construed as the Company’s actions and operations with personal data, including collection, systematisation, accumulation, storage, clarification, updating, modification, use, distribution (including transfer), depersonalisation, blocking and destruction of any personal data, as well as a right of publication of the personal data in a publicly accessible way. This consent is given of the Client’s own free will and in his or her own interest. The following information is treated as generally accessible personal data: surname, first name and patronymic, date of birth, permanent residence and other information relating to the identity of the subject of the personal data. The Client understands the content of the actions taken to process personal data and the necessity of carrying them out, and is aware of the right to withdraw consent. This consent is in force from the day on which the Client accepts this Agreement and until the day on which consent is withdrawn.

Email and SMS newsletter agreement

You agree to receive information from the Company in the form of e-mails, telephone calls and SMS messages sent to the telephone number that you have provided.

You may unsubscribe from information sent by the Company at any time by sending an e-mail to [email protected] or by contacting your account manager.

Recordings

You agree and acknowledge that all conversations between you and the Company’s staff may be recorded without prior warning. You agree and acknowledge that these recordings and their transcriptions may be used as evidence in any subsequent dispute.

Risk Statement

You acknowledge and understand that your use of the Service, including the execution of any Transactions, is at your own risk. Without limiting the foregoing, you acknowledge and accept the high level of risk inherent in the use of the Service and as set out in the “Risk Disclosure Policy” available on the Service, which is incorporated herein by reference. Your acceptance of and assent to this Agreement also signifies your assent to the Risk Disclosure Policy and to all of its terms.

You understand that currency market trading carries risks of loss. We ask you to assess responsibly whether these risks are acceptable to you.

By accepting this Agreement, you confirm that you have studied these risks, assessed the possible consequences of your actions, and fully accept these risks.

Limitation of Liability and Disclaimer of Warranties

Under no circumstances will we be liable for direct, indirect, incidental, special, consequential or exemplary damages resulting from any aspect of your use of the Service, whether such damages arise from:

your use, misuse or inability to use the Service;
any of your decisions to execute particular transactions, and any reasons for such decisions;
accidental or intentional suspension or termination of the Service, or its modification or alteration.

The Company is not responsible for the results of the Client’s use of customer services, products or information of third parties presented or advertised in connection with the Service.

In the event that you become involved in a dispute with any third party, you hereby release us, our officers, employees, agents and successors-in-right from claims, demands and damages (actual and consequential) of every kind and nature — known and unknown, suspected and unsuspected, disclosed and undisclosed — arising out of or in any way related to such disputes and/or to the Service.

You expressly agree that your use of the Service is at your sole and exclusive risk.

The Service is provided “AS-IS” and without any warranty or condition, whether express, implied or statutory.

Some jurisdictions do not allow certain limitations of liability or disclaimers of the kind set out in this Agreement. In such cases, the Company operates in accordance with the laws and regulatory requirements of those jurisdictions, and the limitations set out above apply only to the extent permitted by the applicable law.

Settlement of disputes

You acknowledge that any dispute, or any situation not regulated by this Agreement, shall be resolved by the Company’s management in a manner which it considers fair to all.

You hereby consent to an irrevocable transfer of personal jurisdiction to the courts located at Ajetake Road, Ajetake Island, Majuro, Marshall Islands, and agree that any process in any suit or proceeding commenced in such courts under this Agreement may be served upon you by e-mail, personally, by certified or registered mail with return receipt requested, or by courier service, with the same force and effect as if it had been served upon you personally at Ajetake Road, Ajetake Island, Majuro, Marshall Islands. You hereby waive:

any claim that such jurisdiction is not convenient for any suit or proceeding;
any defence of lack of in personam jurisdiction with respect thereto.

If you have any dispute with us, then before filing any legal action whatsoever you must first notify us of the dispute, including a reasonable basis for it, by sending an e-mail to [email protected]. You must then allow us a reasonable period of time to respond to and process your dispute notification, which in no case shall be a period of less than sixty (60) days.

All official correspondence addressed to the Company should be sent to the e-mail address [email protected].

Final provisions

This Agreement, and the fact that you use the Service, do not imply the existence of a partnership, joint venture, agency, franchise, sales representative or employment relationship. Nothing in this Agreement is intended, nor will be deemed, to confer rights or remedies upon any third party.

We reserve the right to amend this Agreement (including any documents referenced or incorporated herein) at any time by posting such amendments to the Service, together with the obligation to publish them on the Company’s website. You acknowledge that your continued use of the Service following such amendments shall constitute your acceptance of those amendments, regardless of whether you have actually read them.

This Agreement (including those documents referenced or incorporated herein), as amended from time to time, constitutes the entire agreement between you and us and supersedes all prior agreements between you and us.

Our failure to enforce any provision of this Agreement will not be construed as a waiver of that provision or of any right.

If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law, then the invalid and unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision, and the remainder of this Agreement shall continue in effect.

You acknowledge that you have read this Agreement, including the documents incorporated herein by reference, together with any additional relevant documentation, and that you agree to its terms and conditions. You acknowledge that you have independently evaluated the desirability of entering into this Agreement and are not relying on any representation, guarantee or statement other than those set forth in this Agreement.

This Agreement is not assignable, transferable or sublicensable by you except with our prior written consent, but may be assigned or transferred by us without restriction. We may resell, assign or transfer our rights and obligations under this Agreement at any time, without restriction and without notice to or consent from you.

Force Majeure. We shall not be responsible for any reasonable delay or failure in the performance of any obligation pursuant to this Agreement caused by acts of God (or natural disasters), terrorism, strikes, embargoes, fires, war or other causes beyond our reasonable control (hereafter “Force Majeure”). In the case of Force Majeure, we may, in our sole discretion, terminate or suspend the Service and/or cancel, close and/or reverse any open Transactions.

The titles of the sections in this Agreement are for convenience only and have no legal value. In the form in which it is used in this Agreement, the term “including” is illustrative and not limiting.

In the event that this Agreement (including the documents incorporated herein) is translated into and made available in a language other than English, the English version of the Agreement takes precedence in case of conflict.

Your use of the Service is strictly limited to the terms of this Agreement (including the documents incorporated herein) and to the technical limitations associated with the Service. This Agreement also includes the following annexes, which form an integral part of it:

the Risk Disclosure Policy;
the Privacy Policy;
any other policy, annex or notice published on www.glstockllc.com and expressly stated to form part of this Agreement.

This Agreement is considered to be concluded by the Company and the Client at Ajetake Road, Ajetake Island, Majuro, Marshall Islands. This Agreement shall be effective as of the date of the Client’s acceptance of it (including the documents incorporated herein). The Client’s acceptance of this Agreement takes place upon the registration of the Client on the Company’s website and the opening of a trading account for the Client.

If you have any questions about this Agreement, please contact us at [email protected].