Fxglory Ltd (operating under the trading name “Fxglory”) is a Forex brokerage Company which is registered with the number of: 23463 IBC in SAINT VINCENT and THE GRENADINES, located at Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines.
The Company provides the brokerage services specified in these Terms and Conditions.
These Terms and Conditions are in addition to any other agreements between you and Fxglory. The Company reserves the right to change these Terms and Conditions and can modify them at any time without prior notice. The Client is responsible for regularly reviewing and continued use of this website constitutes agreement to all such changes.
The Company’s official language is English and the Client should always read and refer to the main website for all information and disclosures about the Company and its activities. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company has no responsibility or reliability regarding the correctness of the information therein.
The Client acknowledges that he/she has read, understood and accepted the Terms and Conditions. The Client should not access this website in case he/she does not agree with the Company Terms and Conditions.
3. Risk disclosure
Commodities in the Forex market are leveraged products and involve a high level of risk. It is possible to lose all the capital invested. Therefore, these products may not be suitable for everyone, and the Client should ensure that he/she understands the risks involved.
The Client acknowledges and accepts that, regardless of any information which may be offered by the Company, the value of any investment in financial instruments may increase or decrease, and it is even probable that the investment may become of no value.
4. Interpretation of terms
Unless the context otherwise requires, capitalized terms used in this Terms and Conditions have the following meanings.
Access code: Any credentials which are provided for the Client by the Company in order to access the Company’s trading platform or any credentials which the Client uses to access the Company’s Client portal.
Account: Any accounts which are created for a Client in order to trade with the Company.
Anti-Money Laundering – AML: A set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions.
Base currency: The main currency of the Client’s account.
Client: Refers to any individuals or legal entities to whom the Company provides services.
Client’s bank account: It is an account held in the name of the Client with a bank or other institution or a credit card processor.
Company: It is the “FXglory Ltd” that is registered with the number of: 23463 IBC in SATNT VINCENT and THE GRENADINES.
Fxglory phone number: +(44) 744 190 6300
Fxglory E-mail: [email protected]
Fxglory website: www.fxglory.com
Deposit: The funds that the Client deposits or transfers into his/her Company account(s).
Withdraw: The fund that the Client withdraws or transfers from his/her Company account(s) to his/her bank account or electronic account(s).
Financial instruments: It means Contracts for Differences, precious metals, futures, shares or any other commodities available for trading.
Forex market: It is the foreign exchange market which is a global decentralized market for the trading of currencies.
MetaTrader 4 platform: The MetaTrader 4 terminal is a perfectly equipped traders workplace that allows to trade in the financial markets (Forex, CFD and Futures).
Order: The Client’s instructions to the Company to buy or sell a security or in another way to open and close a position;
Terminate: Means not usable any more (bring to an end).
Agreement: It means the agreement between the Company and the Client including the rules on which the Company deals with the Client.
Verification: Means the process of establishing the truth, accuracy, or validity of the Client’s identity, address, phone number and Credit/Debit card.
5. Client’s account
5.1 In order to use the Company services, a Client must open an account with us first. The company will smooth the way for opening one or several accounts for the Clients with simple steps of registration on the website.
5.2 While opening an account with the Company, a Client must enter the accurate information which is asked on the Company registration form. In case of any changes in the provided information, he/she must notify the Company instantly .
5.4 The Client can only have one Fxglory account registered under his/her email address but he/she can have several trading accounts under the registered email, otherwise the Company reserves the right to block all Client’s accounts according to the rules of the Company.
5.5 If the Client opens multiple accounts with the intention of defrauding the Company, the Company reserves the right to cancel any transactions and block the Client’s accounts due to any fraud activities.
6. Account verification
In order to prevent any frauds, the Company needs to confirm the Client’s identity.
6.1 While opening an account, the Client must provide the Company with valid identifying information and documents as the verification requirement.
6.2 The company reserves the right to request: 1. Proof of identity (including a scan of the Client’s passport, national identity card, and driver’s license), 2. Proof of address (including a scan of utility bills such as gas, electricity, telephone or water, and also credit card or bank statement) at any time.
6.3 In case of using cards for depositing/withdrawal, the Client must provide the Company with the scan/photo of front and back sides of his/her used Credit/Debit card.
6.4 The Client confirms that he/she provided correct and precise information during the account registration, and he/she has did not impersonate any persons or entities.
6.5 The name on the Client’s account must both match with his/her legal identity and any payment methods used to deposit and withdraw money.
7. Access code
7.1 After registration, the Client will be provided with special usernames and passwords for his/her account. These usernames and passwords allow the Client:
To access the Client Cabinet for the main purpose of reviewing account information, account verification, depositing and withdrawal;
To access the MetaTrader 4 platform for the main purpose of trading on the Forex market.
7.2 The Client will be responsible for confidentiality and use of his/her access code. Also, the Client will not reveal any of his/her access codes to others for any purposes unless with our written agreement.
7.3 The Client assures that the instruction of trades received by the Company through trading platform does not have to be reconfirmed by the Client; in this regard, maintaining the Client’s account information is essential for the Client, and he/she must avoid disclosing those pieces of information. Otherwise, the Client is completely responsible for the trades recorded on his/her account.
7.4 In order to protect the security of the Client’s account and/or prevent unauthorized access and/or use of the account, the Company may provide the replacement usernames and passwords if it is required.
7.5 In case the Client’s access codes have been lost, forgotten, stolen or due to their revelation to any persons or unauthorised use of them, inform the Company via live chat or email.
7.6 Due to the notice from the Client’s side about any cases which have been mentioned in section (4), the Company will terminate or replace his/her access codes immediately. The Client must note that he/she is responsible for any actions taken through the use of his/her access codes before they are terminated by the Company.
7.7 The Client will keep the Company safe from any damages which the Company may suffer from his/her inability to protect the security of his/her access codes, any unauthorized access and/or use of his/her account(s) in any legal entities.
8. Base currency
8.1 The base currency of all our accounts is US dollar and all payments to the Client’s account(s) will be made in the base currency.
8.2 All withdrawals and refunds will be made in the base currency.
9. Deposits and withdrawal limitation and fees
Depositing funds to the Client’s account(s)
9.1 The Client may/can deposit in his/her account at any time.
9.2 The Client must clearly write his/her name and all necessary information on the payment document.
9.3 The deposited funds after being received by the Company, will be added to the Client’s account instantly.
9.4 For the prevention of money laundering and fraud which can be results of criminal activities, the Company reserves the right to request documentation confirming the source of the funds (e. g. Client’s Credit/Debit card scan).
9.5 Any amounts transferred by the Client to the Client’s company account will be deposited at the “value date” of the received payment.
9.6 Transfers of the Client’s funds must take into consideration legal requirements and restrictions of the countries under jurisdiction of which the transfers are executed.
9.7 The Client can execute any trading operations with the use of deposited funds.
9.8 The Company reserves the right to impose deposit limits and in its system(s) at any time.
9.9 Deposited funds to the Client’s account(s) will be equal to the funds received on the Company’s account(s).
9.10 The Company will hold the Client’s money as trustee in its bank account(s).
9.11 If the sent funds do not hit the Client’s account, the Client shall have the right to apply to the Company with the request to make an investigation of the payment.
Withdrawals and limitations
9.12 The Client may send the request for withdrawal of funds from his/her account at any time.
9.13 The withdrawal of the Client’s funds shall be processed if the Company receives the request for withdrawal form his/her account.
9.14 The request shall be considered accepted if it is made up through the Client’s Member Area and displayed in the section of “Withdrawal History”.
9.15 If the Client’s order is open, the Client can withdraw as much as his/her free margin minus credit without closing his/her order.
9.16 The Client’s funds withdrawal request is possible upon condition that the funds are withdrawn to the account from which the Client’s account was deposited and the currency of the account from which the deposit was made is used.
9.17 If the Client’s account was deposited by means of various payment methods, withdrawal should be executed by the methods which were used to deposit his/her account. Besides, the sum of the withdrawal to definite method should be proportional to the sum of the deposit made from that method to the Client’s account.
9.18 The Client’s requests for withdrawal must comply with the requirements and take into consideration limitations defined by laws of Saint Vincent.
9.19 The Company reserves the right to introduce limitations on minimum and maximum amounts of withdrawals which vary depending on a method of the withdrawal.
9.20 Withdrawal of funds for electronic methods is made within 24 working hours, for Wire Transfer within 10 business days, and for card within 15 working days. The Company has a right to decline the Client’s withdrawal or to extend processing of a withdrawal if there are open orders on the Client’s account(s).
9.21 The Company is entitled to reject a withdrawal with a specific payment method and may suggest another payment method where the Client needs to proceed with a new withdrawal request, or request further documentation while processing the withdrawal request.
9.22 Withdrawing money from one account to another is impossible under any circumstances.
9.23 Deposits and withdrawals by different methods are possible in some special cases. In this case the Client will be obligated to pay some fees.
Deposit and withdrawal fees
9.24 The Company does not serve any fees on deposit.
9.25 The amount of fees for withdrawal of funds depends on the system of payment and is presented on our website “Withdrawal Fees and Limitations” chart.
9.26 The Company reserves the right to increase/decrease the amount of fees without any consultation or prior notification to the Client.
10. Data protection
10.1 The company guarantees the Clients full personal information safety. The Company uses Secure Socket Layer (SSL) encryption technology in order to protect certain information that the Client submits. This type of technology protects the Client from having his/her information intercepted by anyone other than the Company. The Company also uses other safeguards such as firewalls, authentication systems (e.g., passwords and personal identification numbers), and access control mechanisms to control unauthorized access to systems and data. The Company restricts access to information in its offices so that only officers and/or employees who need to know the information have access to it.
10.3 The Client must inform the Company about any changes in personal information by sending an email from the registered email address to [email protected] including his/her name and account number.
10.4 The Company reserves the right to inform any third parties or authorities regarding the Client’s personal information, transactions and any other information as it seems necessary in case of any direct or indirect fraudulent activity by the Client.
11. Web content and materials
The information on this website is for information purposes only. The information and materials contained on this website – and the Terms and Conditions of the access to and use of such information and materials – are subject to change without prior notice. This website and its contents may not be reproduced, duplicated, copied, resold or used for any commercial purpose without the prior written consent of the Company. Any dated information is published as of its date only, and the Company does not undertake any obligation or liability to update or improve any such information. The Company is entitled to terminate any or all web offerings without prior notice to the Client. The Client eligibility for particular products and services is subject to final Company determination and acceptance.The Client agrees that he/she does not do any activities that are in contrast of the Company regulation and the Terms and Conditions.
12. Disclaimer and limitation of liability
The Company waives any liability due to the use of the website and/or information. The company will not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control of the Company including, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of orders and/or information due to breakdown or failure of transmission or communication facilities, or electrical power outage, poor market trading conditions, emotional induced errors, or news surprises.
This website contains information about the services and products of the Company. All materials on the website are provided for informational purposes only without regard to any particular Client’s investment objectives and/or financial situation and do not take into account special investment expectations, financial situation or specific needs or demands of individual Clients. Forex trading entails high risks and is not suitable for all traders. Before making any investment or entering into any transaction, the Clients should carefully consider their investment goals and the level of risk they are willing to assume. They might lose part or all of their initial investment. Therefore, they should only invest risk capital in order to avoid compromising their personal financial status.
13. Anti-Money Laundering
Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate so that its illegal source cannot be traced.
The Company is committed to assisting governments combat the threat from money laundering and terrorist financing activities around the world. For that purpose the Company has setup a highly sophisticated electronic system. By preventing money laundering, the movement of funds derived from criminal activities will be prohibited. This will in turn restrict the availability of funds used for illegal activities.
Money laundering is a serious criminal offence. The Company has policies in order to prevent money laundering based on Anti-Money Laundering Committee (AMLC) instructions. These policies include:
confirming the identity of the Clients;
retaining transaction and identification records;
determining that the Clients are not known or suspected criminals by checking their names against the list of known criminals;
following the Clients’ money transactions;
training staff in terms of anti-money laundering regulations.
For security reasons, the Company does not accept cash deposits and does not pay out cash under any circumstances. The Company reserves the right to refuse a transaction at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activity. The Company is prohibited from informing the Client that it has been reported for suspicious activities. The Company will be obliged to report these suspicious activities to the relevant authorities.
All rights reserved.
The Company retains copyright of the website and all current and future content displayed on the website. Initially content of the website is intended for private use only. The Company reserves the exclusive rights to prohibit the use of information by third parties. Appropriation of the right to information published on the website is forbidden. The material contained on the website, may not be copied, displayed, transmitted, performed, distributed, licensed, altered, framed, stored for subsequent use, or otherwise used in whole or in part in any manner without the Company prior written consent.
15. Force majeure
The Client acknowledges that the Company will not be liable to the Client or a third party in the event of force majeure, or for the failure in performance of the terms in this Terms and Conditions if the failure caused by certain unpredictable events or beyond our control, including, without limitation, the acts of God, war, fire, flood, explosions or any other natural disasters, industrial disputes, governmental decree; any breakdown or interruption of power supply, network failure, hardware and software failure, failure in communication lines, failure of transmission, communication, computer facilities or other strikes, hacker attacks or other illegal actions on the Company’s trading server.
16.1 Either party (the Company and the Client) can terminate this agreement by giving five (5) business days written notice to the other party. During the termination notice, the Client has to close all his/her open orders; otherwise, the Company reserves the right to close all Client’s open orders.
16.2 Criterions for termination of this agreement by the Company may include but are not limited to: contravention of any provisions of this Terms and Conditions and/or any other agreements, any unauthorized and fraudulent activities, abusive acts, misleading information, lack of the client’s activity, bankruptcy and any acts that may threaten our business.
16.3 In the event of termination, the Company reserves the right to cease the access of the Client to the Company’s trading platform and any accounts that he/she opened with the Company.
16.4 Upon termination, any funds of the Client’s account will be refunded with a deduction of any losses and/or the fees imposed to the Client by financial institutions (e.g. Banks) which the Client used to fund his/her account.