Client Agreement - Terms and Conditions
Global Copytraders Ltd. Client Agreement - Please read these terms carefully before using our services. By using our platform, you agree to be bound by these terms and conditions.
RISK WARNING
Trading leveraged derivative products such as Foreign Exchange (Forex), Contracts for Difference (CFDs), or other financial derivative products carry a high level of risk to your capital. All these products, which are leveraged derivative products, may not be appropriate for all investors without an expert. The effect of leverage is that both gains and losses are magnified. The prices of leveraged derivative products may change to your disadvantage very quickly, you can lose more than your invested capital, and you may be required to make further payments. Before deciding to invest in any financial product, you should carefully consider your investment objectives, trading knowledge and experience, and affordability. You should only trade in Forex and CFDs if you have sufficient knowledge and experience of the risky nature of the products, the risks involved in trading such products, and if you are dealing with money that you can afford to lose. You should seek independent professional financial advice if you are in any doubt.
1.1. INTRODUCTION
a) These Terms together with your completed and submitted Application Form comprise the Client Agreement between Global Copytraders Ltd. ("we", "us" or "Global Copytraders"), an international business company regulated by U.S Securities And Exchange under registration number: 4342-345462.
b) If the Client is comprised of two or more legal persons, then a reference to a right or obligation of the Client under this Agreement or a transaction contemplated by this Agreement confers that right or imposes that obligation jointly and severally on those persons.
c) This is a master agreement and sets out the terms and conditions upon which dealings between you and us relating to the provision of advice to the Client or the execution of Orders.
d) The Client may forfeit part or all any Deposit in the event of cancellation. Where Global Copytraders has suffered loss, it reserves the right to set off against the Client's Deposit or any other funds received from the Client, any charges, fees or losses sustained by Global Copytraders in closing out the Order.
3.3. CURRENCY CONVERSIONS
a) Money can be paid under the Agreements in these currencies: Australian Dollars (AUD), United States Dollars (USD), British Pound Sterling (GBP), Euro (EUR), Canadian Dollars (CAD), Japanese Yen (JPY), New Zealand Dollars (NZD), Singapore Dollars (SGD) or Hong Kong Dollars (HKD).
b) Realized profits and losses will be converted into the currency specified for the trade and will be converted into the Base Currency of the Account at the current spot rate immediately on closing-Out a Position.
c) If the Client makes a payment to Global Copytraders in a different currency than the Base Currency of the Account, the payment will be converted into the Base Currency of the Account at the spot rate given by Global Copytraders' financial provider.
3.4. TRADING CONFIRMATIONS AND STATEMENTS
a) Each time the Client places an Order with Global Copytraders, a confirmation of the executed trade will appear in the Global Copytraders Trading Platform.
b) The Client consents to receive Trade Confirmations by electronic means including, for example, through any Online Service.
c) Global Copytraders will make available Daily and Monthly Statements via Global Copytraders Trading Platform or online service.
d) Following the end of day settlement time, provided the Client has transacted or has an open Position, Global Copytraders Trading Platform will produce a Daily Statement which will be emailed to the Client at their registered email address and then made available on the Global Copytraders Trading Platform.
e) Following month-end, Global Copytraders will produce an electronic version of the Client's trading statement which will be emailed to the Client and be available on the Global Copytraders Trading Platform.
f) The Client is responsible for promptly checking all contents of Confirmations and the Daily and Monthly Statements. The client must immediately notify Global Copytraders if they become aware that there is an error in the Confirmation or the Statements. Global Copytraders is entitled to assume that the Confirmations and Statements are correct unless the Client notifies Global Copytraders of any error within 48 hours following us giving the Confirmation or the Statements becoming available to the Client.
3.5. TELEPHONE AND EMAIL TRANSACTIONS
a) An Authorized User may request Global Copytraders to accept Instructions and enter Orders by telephone. Global Copytraders has sole discretion to accept Instructions and enter Orders by telephone.
b) Global Copytraders may check the authority of the caller by requesting the caller give his or her name and confirming that such name has been notified to Global Copytraders by the Client as an Authorized User.
c) The Client acknowledges and agrees that Global Copytraders may make a recording of each telephone Instruction and any other conversation received from a Client or an Authorized User. The recording remains the property of Global Copytraders and can be used to confirm terms and conditions of any transaction where there is a dispute, and for training and monitoring purposes.
d) An Authorized User may request Global Copytraders to accept Instructions and enter Orders by email. The Client acknowledges and agrees that upon the acceptance by Global Copytraders of the Client's Instructions, the Client shall be bound by those Instructions.
3.6. ONLINE SERVICES
a) If the Client or the Client's Authorized User uses any of the Online Services, the Client or Authorized User will be able to:
- place your Orders or issue Instructions to Global Copytraders
- enquire as to the availability or pricing or value of one or more Financial Products
- receive market data and other information in relation to one or more Financial Products
- monitor your obligations under this Agreement
- receive Confirmations, Account balances or other information in connection with your Account
- use such other facilities as Global Copytraders may from time to time make available through the Online services
b) The Client must provide Global Copytraders on request with a list of Authorized User(s) and is responsible for informing Global Copytraders with any changes to that list.
c) An Online Service may be a proprietary service provided by Global Copytraders or a service provided to you by a third party pursuant to an arrangement with Global Copytraders.
d) The Client is responsible for complying with the operations aspects of Online Services provided by Global Copytraders or the provider of the Online Services.
e) Global Copytraders may at any time without notice suspend, withdraw or deny access to the Online Services to a Client or one or more of the Client's Authorized Users for any reason including security, quality of service, failure to pay amounts when due or breach of any provision of this Agreement.
f) Clients can contact Global Copytraders in writing to terminate their access to an Online Service.
g) Global Copytraders can delay, decline or reverse any Order if Global Copytraders reasonably suspects that the transaction might be unlawful, associated with financial crime, that the Client has engaged in Suspicious Trading Activity, believes that carrying out the transaction might breach compliance obligations, or believes that the Client is in breach of this Agreement.
k) The Client must not:
- permit any person (other than an Authorized User) to use the Security Details or to access the Online Service
- provide, disclose or make available the Security Details to any person (other than an Authorized User)
- misuse any of the Online Services by knowingly introducing viruses, trojans, worms, logic bombs or other malicious material
- attempt to gain unauthorized access to any of the Online Services or any connected server, computer or database
- attack any of the Online Services via a denial-of-service attack or a distributed denial-of-service attack
l) The Client acknowledges and agrees that:
- Access to Online Services can only be granted using the Security Details
- The Client is responsible for the consequences of any unauthorized disclosure or use of the Security Details
- Global Copytraders is entitled to rely on all Instructions given using the Security Details
- Global Copytraders is not liable for any loss caused by it acting on Instructions using the Security Details
- There may be delays in processing, execution, amendment or cancellation of Orders
- Any Online Service is provided on an "as is" basis
- There are significant risks in trading through Online Services due to computer and telecommunications systems
- The Client will be liable for all Orders made when using Online Services including instances of misuse, fraud or abuse
- Global Copytraders may change minimum specifications and make operational changes at any time
- The Client is responsible for ensuring alternative arrangements if Online Services cease to be available
m) Clients are responsible for obtaining, maintaining and ensuring compatibility of their electronic software, devices and equipment. Global Copytraders will not be responsible for any loss of or damage to a client's data, software, computer, or equipment unless directly and solely caused by our negligence.
n) Clients are responsible for ensuring that their electronic devices are free from viruses and other malware. Global Copytraders cannot guarantee that Online Services will be free from infection.
o) By breaching this provision, a Client may also commit a criminal offence. Global Copytraders may report any such breach to law enforcement authorities and will co-operate by disclosing a Client's identity to them.
3.7. HEDGED POSITIONS
a) Global Copytraders may allow you to execute Hedged Positions on some Financial Products from time to time. A Hedged Position is an Open Position that is opposite of another Open Position. In other words, it is the same Financial Product, but the opposite direction (i.e., you are the Long Party and the Short Party). A Hedged Position may be a Fully Hedged Position or a Partially Hedged Position.
b) Global Copytraders reserves the right to reduce the Deposit to zero for Fully Hedged Positions. We also reserve the right to reduce the Deposit for Partially Hedged Positions. If we choose to reduce the Deposit, we do not waive the right to require a deposit at any given time.
c) You acknowledge and agree that if the Deposit for a Hedged Position has been reduced and you close any Open Position that forms part of the Hedged Position, it will immediately trigger the full Deposit for the Open Position. If you do not have sufficient Deposit such Open Position will be closed in accordance with clause 3.2 (c).
d) Global Copytraders may close all or part of any Hedged Position at any time without notice at the Close-Out Value where we reasonably believe that the Hedged Position is being abused by a Client including where we reasonably believe that such Hedged Positions are not in the ordinary course of trading, or where it constitutes Suspicious Trading Activity. The Company reserves the right to proceed with immediate account termination, with or without prior notification to the client. The Company is further entitled to reverse any profits accrued from suspicious trading and/or terminate the trading account.
3.8. DELAYS AND QUOTING ERRORS
a) While Global Copytraders will make every reasonable effort to process the Client's Order promptly, in the absence of gross negligence or wilful misconduct, Global Copytraders cannot be held liable for delays, damages, failures, or errors in the completion of the Order, including instances of off quotes situations.
b) In the event of a quoting or off quote error, Global Copytraders: i. is not liable and responsible for any damages, claims, losses, liabilities, or costs arising from the error; ii. reserves the right to restrict or suspend the trading activities of the involved Client until further notice; and iii. reserves the right to make the required adjustments to rectify the error.
c) Any dispute arising from a quoting or off quote error will be resolved based on the fair market value, as determined by Global Copytraders acting reasonably, of the relevant currency at the time such quoting error occurred.
d) If Global Copytraders is unable to perform its obligations under this Agreement or an Order because of factors beyond its control or because of a Force Majeure Event, Global Copytraders will notify the Client as soon as is reasonably practicable and will use reasonable endeavors to secure the return of any money paid by the Client.
e) Global Copytraders may give a Notice to the Client at any time if it forms the view that market conditions in the relevant financial market for the currency concerned are seriously disturbed. When such Notice is given, Global Copytraders's obligations will be suspended while it and the Client negotiate alternative arrangements.
3.9. TRADING HOURS
a) Trading hours for Margin FX Contracts and CFDs vary and will depend on the relevant Underlying Instrument's hours of operation. The trading hours are published on our website.
b) We are under no obligation to quote prices or accept Orders on a public holiday in any jurisdiction which, in our reasonable opinion, affects the relevant value of the underlying asset or assets to the OTC derivative contract Global Copytraders offers. We give notice of such public holidays and the underlying asset or assets affected on the Online Service.
Important Notice
By using Global Copytraders services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions. If you do not agree with any part of these terms, you should not use our services. These terms may be updated from time to time, and continued use of our services constitutes acceptance of any changes.
Contact Information
Global Copytraders Ltd.
Registration Number: 4342-345462
Regulated by U.S Securities And Exchange
For questions about these terms, please contact our support team.
This document contains the complete terms and conditions for using Global Copytraders services. Please ensure you understand all sections before proceeding with any trading activities.