1-DEFINITIONS
In the agreement, unless the context requires, the following
words shall be construed as follows:
Access Codes the email and password provided by the Client
for accessing the Company’s electronic systems.
Account Activity account details, including executed
Transactions, Confirm actions of trades, swap interest
credits/debits, cash balance, account equity, used Margin
ratio, total realized and unrealized profit and loss, and
the remaining amount available for trading.
Account Application the Application to Open an Individual,
Joint or Business Trading Account form, which is completed
by the Customer through the Website or provided to the
Customer in hard-copy form.
Adviser an algorithm in the form of a program based on MT4,
which is used to control a Trading Account and give
instructions and requests to the Server via the Client
Terminal.
Balance the total financial result of all Completed
Transactions and deposit /withdrawal operations on the
Trading Account and does not unrealized profits and losses.
Base Currency the first currency in the Currency Pair
against which the Customer buys or sells the Quote Currency.
Bid the lower price in the Quote being the price at which
the Customer may sell. The term Bid is synonymous with Sell.
Business Day any day between Monday and Friday, inclusive,
on which the Federal Reserve is open in New York City.
Buy means Offer.
Buy Limit an Order to open a Long Position at a price lowers
than the price at the moment of placing the Order.
Buy Stop an Order to open a Long Position at a price higher
than the price at the moment of placing the Order.
CFTC the United Kingdom Commodity Futures Trading
Commission.
Client Terminal the MT4 Pro program, which is used by the
Customer to obtain information on financial markets (which
content is defined by globeswiftgainpro) in real-time, make
Transactions, view account equity, place Orders, as well as
to receive notices from globeswiftgainpro.
Complaint (a) a conflict situation where the Customer
reasonably believes that globeswiftgainpro as a result of any
action or failure to act has breached one or more terms of
the Terms of Business; (b) a conflict situation when
globeswiftgainpro reasonably believes that the Customer, as a
result of any action or failure to act, has breached one or
more terms of the Terms of Business; (ca conflict situation
where the Customer makes a deal at an Error Quote/Spike, or
before the first Quote comes to the Trading Platform on the
Market Opening, or at the Quote received by the Customer
because a Dealer made a Manifest Error or because of a
software failure of the Trading Platform; (d) a Trading
Dispute; or (e) any other issue relating to fair and ethical
trading through globeswiftgainpro or the Trading Platform.
Completed Transaction two offsetting positions of the same
volume.
Contract Specifications principal trading terms (such as
Spread, Lot Si e, Leverage, Initial Margin and trading
hours) for each Instrument.
Currency Pair a quotation of two different currencies, which
is based on the change in the value of one currency against
the other.
Customer, a legal entity or an individual is a party to the
Customer Agreement with globeswiftgainpro in respect of
making Transactions, subject to Margin Trading.
Customer Agreement the agreement between globeswiftgainpro
and the Customer, which together govern the terms on which
globeswiftgainpro deals with the Customer.
Dealer an employee of globeswiftgainpro who is authorized to
execute the Customer’s Orders.
Equity Balance + Floating Profit – Floating Loss. Equity is
also referred to as net liquidation value.
Error Quote/Spike an error Quote including, but not limited
to, the following characteristics: (a) a significant Price
Gap or Spread gap; (b) in a short period of time, the price
rebounds with a Price Gap or Spread gap; (c) no rapid price
movements at the time of the Quote; and (d) before and
immediately after the Quote provided it appears that no
important macroeconomic indicators and/or corporate reports
are released.
An event of Default has the meaning given in paragraph 17.2
of the Customer Agreement.
The fast Market rapid movement is on the market for a short
period of time often causing Price Gaps. Generally, it
occurs immediately before or after an important event which
influences price movements, including (a) releases of main
macroeconomic indicators on global economies, which have
great impact on the financial market; (b) central banks
decisions on interest rates; (c) press conferences and
speeches of the central banks heads, heads of state,
financial ministers and other significant announcements; (d)
interventions; (e) terror attacks; (f) natural disasters or
other acts of God which cause the announcement of the state
of emergency (or other restrictive measures) on the affected
territories; (g) war or any other military actions; or (h)
political force majeure: dismissal or appointment (including
electronic results) of the government executives.
FIFO Rule ‘first in, first out’ or a rule which requires
that the position which was first opened be the first
position closed when multiple positions are held in the same
Currency Pair.
Floating Loss current or unrealized loss on Open Positions
calculated at the current Quotes. Floating Profit current or
unrealized profit on Open Positions calculated at the
current Quotes. Forex means foreign exchange.
Force Majeure Event the following: (a) any act, event or
occurrence (including, without limitation, any strike, riot
or civil commotion, terrorism, war, act of God, accident,
fire, flood, storm, interruption of power supply,
electronic, communication equipment or supplier failure,
civil unrest, statutory provisions, lock-outs) which, in
globeswiftgainpro‘s reasonable opinion, prevents
globeswiftgainpro from maintaining an orderly market in one
or more of the Instruments; (b) the suspension, liquidation
or closure of any market or the abandonment or failure of
any event to which globeswiftgainpro relates its Quotes; or
(c) the imposition of limits or special or unusual terms on
the trading in any such market or on any such event. Free
Margin funds on the Trading Account, which may be used to
open a position. It is calculated as Equity less Margin.
Initial Margin the margin required by globeswiftgainpro to
open a position. The details for each Instrument are in the
Contract Specifications. Instant Execution the mechanism of
providing Quotes to the Customer without a prior request.
The Customer may make a Transaction anytime the Customer
sees the Quotes Flow, provided by globeswiftgainpro, in
real-time. Instrument any Currency Pair.
Leverage the use of Margin to increase potential returns.
Leverage is generally referred to as a ratio relating to the
Transaction Size and Margin (for example, a 1:20, 1:25,
1:40, 1:50, or 1:100 ratio). A 1:100 ratio means that, in
order to open a position, the Margin required is one hundred
times less than the Transaction Size. Limit Order an Order
to buy or sell at a set quantity at a specified price or
better. Long Position a Buy position that appreciates in
value if market prices increase. Lot means a unit of Base
Currency in the Trading Platform.
Lot Size the number of units of the underlying assets or
Base Currency in one Lot defined in the Contract
Specifications. Manifest Error an error of a Dealer who
opens/closes a position or executes an Order at the price
which significantly differs from the price for this
Instrument in the Quotes Flow at the moment of taking this
action, or any other Dealer’s action in respect of the
prices which are significantly different from the market
prices. Margin the margin required by globeswiftgainpro to
maintain an Open Position. The Margin applicable to each
Instrument is specified in the Contract Specifications.
Маrgin Level the percentage or ratio of Equity to Necessary
Margin. It is calculated as (Equity / Necessary Margin)
multiplied by 100%. Margin Trading Leverage trading when the
Customer may make Transactions having far fewer funds on the
Trading Account in comparison with the Transaction Size.
Market Opening the time at which the market opens after
weekends, holidays or trading sessions time gaps. Market
Order an Order to buy or sell which is immediately executed
at the current market price. NFA the United Kingdom National
Futures Association.
Normal Market Conditions the market where there are no: (a)
considerable breaks in the Quotes Flow in the Trading
Platform; (b) fast price movements; and (c) Price Gaps. OCO
(or One Cancels Other) the submission of two Orders where,
if one Order is executed, the other Order is immediately
canceled. Offer the Ask price or the higher price in the
Quote being the price at which the Customer may The term
Offer is synonymous with Buy. Open Position a Long Position
or a Short Position which is not a Completed Transaction.
One-Click Trading an execution-style where a Market Order
can be immediately placed, confirmed and executed by
clicking one time the Offer or Bid price listed for the
Currency Pair.
Order an instruction from the Customer relating to opening,
offsetting/closing, modifying, and deleting or otherwise
executing a position on the Trading Platform. Order ID the
unique identification number assigned to each Order placed
through or on the Trading Order Reference Guide the guide
containing information about the Order types available on
the Trading Platform. This information is displayed on
https://www.globeswiftgainpro.org/ OTC the over-the-counter
market where contracts are not traded on an organized
exchange.
Payment Instructions details for depositing funds to the
Trading Account. Payment Instructions can be found on
globeswiftgainpro Web site. Pending Order a resting order or
an instruction to open a position once the price has reached
the level of the Order. Price Gap a considerable amount of
price distance within an Instrument. Quote the current price
for a specific Instrument in the form of Bid and Offer
prices. Quote Currency the second currency in the Currency
Pair which can be bought or sold by the Customer for the
Base Currency. Report/Trade Summary the file created by the
Server, which records accurately to a second all Orders sent
by the Customer to globeswiftgainpro as well as the results
of their execution. Risk Disclosure Statement the risk
disclosure statement included in paragraphs 1 and 2 of Sell
means Bid.
Sell Limit an Order to open a Short Position at a price
higher than the price at the moment of placing the Order.
Sell Stop an Order to open a Short Position at the price
lowers than the price at the moment of placing the Order.
Server the MT4 Pro server program. This program is used to
execute the Customer’s Orders and provide trading
information in real-time mode (the content is defined by
globeswiftgainpro), subject to the mutual liabilities between
Customer, the Forex Customer Agreement and its Terms.
Services the services provided by globeswiftgainpro to the
Customer as set out in the Agreement. Short Position a Sell
position that appreciates in value if market prices fall.
Spread the difference between Bid and Offer.
Stop Limit an Order which becomes a Limit Order after a
price specified by the Customer has been reached or passed.
Stop Loss a Pending Order which becomes a Market Order if
the Bid or Offer for a Currency Pair reaches the predefined
stop price. This Order Type is designed to limit a trader’s
loss on a position. Stop Order an Order to buy or sell a
certain quantity if a specified price (the stop price) is
reached or passed. The Order becomes a Market Order once the
stop price specified is reached. Stop Out offsetting/closing
Open Positions without the consent of the Customer or
without any prior notice to the Customer where there are
insufficient funds to maintain the Open Positions. Storage
Swap the funds are withdrawn or added to the Client’s
account for the prolongation (transfer) of an open position
to the next day. Streaming Quotes the stream or flow of
Quotes in the Trading Platform for each Instrument. Take
Profit an Order to close a previously opened position at the
price more profitable for the Customer than the price at the
moment of placing the Order. Terms have the meaning set
forth in paragraph 1.1 of Exhibit A, Terms of Business for
MT4 Pro.
Thin Market the market in which the Quotes in the Trading
Platform are rare as opposed to the Normal Market
Conditions. Trading Account the unique personified
registration system of all Completed Transactions, Open
Positions, Orders and deposit/ withdrawal transactions in
the Trading Platform. Trading Dispute a complaint or
grievance relating to a Transaction or trade submitted,
deleted, modified, offset/closed or executed on the Trading
Platform or otherwise handled by globeswiftgainpro. Trading
Platform all programs and technical facilities which: (a)
provide real-time Quotes; (b) allow Transactions to be made;
(c) allow Orders to be placed, modified, deleted, offset and
executed; and (d) calculate all mutual obligations between
the Customer and globeswiftgainpro. The trading platform
consists of the Server and the Client Terminal. Trailing
Stop a complex Stop Loss Order where the Stop Loss price is
set at a fixed percentage or number of points below the
market price. On a Buy Order, if the market price rises, the
Stop Loss price rises proportionately. If the price falls,
the Stop Loss price does not change. Transaction any type of
transaction effected in the Client’s trading account(s)
including but not limited to Deposit, Withdrawal, Open
Trades, Closed Trade s, Transfers between other accounts
which belong to the Client or an authorized representative.
Transaction Size Lot Size multiplied by the number of Lots.
2-Communication
2.1. Transmission of Reports, Statements, Notices, and Other
Communications. Reports, statements, notices and any other
communications from globeswiftgainpro will be made available
by display electronically via globeswiftgainpro Trading
Platform, or may be transmitted electronically via e-mail or
sent to the mailing address listed in the application, via
U.S. mail or to such other address as the Customer may from
time to time designate in writing to globeswiftgainpro. All
communications so made available or sent, whether by mail,
display electronically, telegraph, messenger, e-mail, fax or
otherwise, shall be deemed transmitted by globeswiftgainpro
when deposited in the United States mail, or when received
by a transmitting agent or posted in globeswiftgainpro
Trading Platform or Website and are thus available for the
Customer’s electronic access, or when e-mailed or faxed, and
will also be deemed delivered to the Customer personally,
whether actually received or accessed by the Customer or
not. The Customer shall notify globeswiftgainpro immediately
of any change in the Customer’s address by e-mail to
support@globeswiftgainpro.org. All communications sent by the
Customer shall not be deemed effective until accepted by
globeswiftgainpro.
2.2 Consent to Other Communications. The Customer expressly
invites globeswiftgainpro, for the purpose of marketing
financial services and products, from time to time, to make
direct contact with the Customer by telephone, facsimile or
otherwise. The Customer consents to such communications and
agrees that the Customer will not consider such
communication a breach of any of the Customer’s rights under
any relevant data protection and/or privacy regulations. The
Customer may opt out of receiving such communications by
sending globeswiftgainpro an e-mail at
support@globeswiftgainpro.org
3- RELATIONSHIP BETWEEN THE COMPANY AND THE CLIENT
3.1 The Company reserves the right to use, employ or appoint
third qualified and duly trained person for the purpose of
mediating in the execution of orders and the conclusion of
transactions for the Client.
3.2 The Company declares that it takes all necessary
measures, where possible, in order to anticipate or solve
any conflicts of interest between, on the one hand, itself
and its associated persons and clients and on the other
hand, between its clients. However, the Company draws the
Client’s attention to the following possibilities of a
conflict of interest.
3.3 The Company and/or any associated company and/or any
company which is a member of the group of companies to which
the Company belongs to, might:
Enter itself into an agreement with the Client in order to
execute his Order; Be an issue of the Financial Instruments
in which the Client wishes to conclude a transaction act on
its behalf and/or for another client as a purchase and/or
seller and may have an interest in the Financial Instruments
of the issuer in which the Client wishes to conclude a
transaction; Act as the market maker, consultant, and
investment manager and/or have any trading or other
relationship with any issuer; Pay a fee to third persons who
either recommended the Client to the Company or who mediated
in any way so that the Client’s Orders are forwarded to the
Company for execution.
4- Client Classification
For the purposes of the services provided by
globeswiftgainpro under these Terms of business, we will act
as principal and not as agent on your behalf. We shall treat
you as a Retail Client, subject to the following:
a-if you satisfy the definition of Professional Client or
Eligible Counter-party, we may notify you that we will treat
you as such and the terms detailed in Schedule 1 shall
apply; and
b- You may request a different client classification from
the one we have to allocate d to you, but please be aware
that we may decline such a request. If you do request a
different categorization and we agree to such a request, you
may lose the protection afforded by certain FSA Rules, a
summary of these lost protections can be found in Schedule
1. This may include, but is not limited to:
I- The requirement for us to act in accordance with your
best interests;
II- Our obligation to provide appropriate information to you
before providing our services;
III- The restriction on the payment or receipt by us of any
inducements;
IV- Our obligation to achieve the best execution of your
orders if you are classified as an Eligible Counter-party
only;
V- The requirement to implement procedures and arrangements
which provide for the Prompt, fair, and expeditious
execution of your orders;
VI- Our obligation to ensure that all information we provide
to you is fair, clear and not misleading; and
VII- the requirement that you receive from us adequate
reports on the services provided to you.
5- IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW
ACCOUNT
5.1. globeswiftgainpro recognizes that the USA PATRIOT Act,
as amended from time to time (the “Act”), imposes important
obligations on all financial firms for the detection,
deterrence, and reporting of money laundering activities.
Under the Act, money laundering is defined as any financial
transaction using income derived from criminal activity
including, but not limited to, drug trafficking, fraud,
illegal gambling, and terrorism. globeswiftgainpro has
established the following policies to ensure compliance with
all laws and regulations regarding money laundering.
5.2. Prior to the opening of any new Trading Account,
globeswiftgainpro will document the identity, nature of
business, income, the source of funds, and investment
objectives of each prospective customer. Therefore,
globeswiftgainpro will request the Customer’s driver’s
license number, passport number and may request copies of
the Customer’s identifying documents.
5.3. On an on-going basis, globeswiftgainpro will review
Trading Account activity for evidence of transactions that
may be indicative of money laundering activities. This
review may include surveillance of: (a) money flows into and
out of Trading Accounts, (b) the origin and destination of
wire transfers, (c) non-economic transactions, and (d) other
activity outside the normal course of business. Every
officer, employee and associated person of globeswiftgainpro
is responsible for assisting in the firm’s efforts to
uncover and report any activity that might constitute, or
otherwise indicate or raise suspicions of, money laundering.
To this end, globeswiftgainpro provides continuing education
and training of all such persons.
5.4. globeswiftgainpro will comply with all trade and
economic sanctions imposed by the U.S. Office of Foreign
Assets Control against targeted foreign countries and shall
cooperate fully with government agencies, self-regulatory
organisations, and law enforcement officials. As provided by
the Act, globeswiftgainpro may supply information about
former, current or prospective customers to such bodies.
6-CLIENT ACCOUNTS
6.1 All amounts handed over by the Client to the Company or
which the Company holds on behalf of the Client, for the
provision of Investment Services as in paragraph 2, shall be
held in the name of the Client and/or in the name of the
Company on behalf of the Client in an account with any bank,
other institution or any electronic payment
providers/processors used to accept funds which the Company
shall specify from time to time (“the ‘Bank Account’).
6.2 The Client has the right to withdraw the funds, which
are not used for margin covering, free from any obligations
from his sub-account without closing the said sub-account.
6.3 Money transfer request (withdrawal from the trading
account) is processed within three working days after
receiving from the Client transfer request instructions.
Then the transferring amount reduces the balance of the
Client’s sub-account when the transfer request process is
concluded. The Company reserves the right to decline a
withdrawal request if the request is not in accordance with
paragraph 7.9 or delay the processing of the request if not
satisfied on full documentation of the Client.
6.4 The Client agrees to pay any incurred bank transfer
fees/charges charged by the Bank Account providers, the
Company or any other intermediary involved in such
transaction process when withdrawing funds from his
sub-account to his designated account held in any of the
providers specified in paragraph 7.1 above. The Client is
fully responsible for payments details, given to the Company
and the Company accepts no responsibility for the Client’s
funds, if the Client’s given details are wrong.
6.5 The Client agrees that any amounts sent by the Client or
on the Client’s behalf in the Bank Accounts, will be
deposited (credited) to the Client’s trading account at the
value date of the payment received and net of any charges /
fees charged by the Bank Account providers, the Company or
any other intermediary involved in such transaction process.
The Company must be satisfied that the sender is the Client
or an authorized representative of the Client before making
any amount available to the Client’s trading account,
otherwise, the Company reserves the right to refund/send
back the net amount credited to the account by the same
method as received. It is also understood that the Company
accepts no responsibility for any funds not deposited
directly into Company’s bank accounts.