User Agreement

Part I: Scope of this Agreement
This Agreement is between FXGlory and the Client (“you”) from now on.
You should read carefully, understand and agree with the terms of this Agreement before you enter into a contractual relationship with us.

Part II: Client’s confirmation
The Client certifies the following:
  1. He/she reads all the terms included in the Agreement, and in accordance with the rule of the Distance Marketing of Consumer Financial Services, it is not necessary for both sides to sign this Agreement for implementing the legal vows of the sides.

  1. The Client requires to accept the rules or their abrupt changes with regard to unpredictable situations. All changes will be applicable on the exact day they are published in Fxglory blog as an announcement.

  1. The Agreement creates the way for presenting investment and auxiliary services.

  1. The Client must be over 18 years of age, so as to enter into a contractual relationship with the Company.

  1. If the Client does not agree to be bound by the present User Agreement, then he/she must not use/access our services.

  1. The Client, by signing this agreement electronically, is committed that after opening an account for him/her and before withdrawing money from his/her account to sign this agreement also on paper, sending its scan to us in case of the Company’s demand, and also send the original version of the agreement to the address of the broker in case of the broker’s appeal.

Part III: Warning about the risk of the financial markets
Initially, the Client needs to become informed and justified about the risk in the financial markets, especially the Forex market.
The financial markets have the potential of both enormous profit and high damage, so it is necessary to take into account the notes below:
  1. In the Forex market, Clients are privileged to have the leverage of even hundreds of times greater than their current deposits, and this feature leads them with low deposit to gain lots of profit. Conversely, concerning the possibility of huge trades, a Client may risk a lot and thus loses his/her resources. For those who are not experienced enough to apply high leverage, it is, therefore, advisable that they work with low leverage to acquire sufficient mastery of the market.

  1. Most people who work in the financial markets, especially Forex, will encounter a lot of damage in long terms, and few who trade scientifically, programmatically, and unemotionally gain profit. Consequently, it is recommended that you never risk when you are not able to afford more than the amount you can lose, and you yourself would be responsible for any financial or mental harm as a result of the stricken loss. In case you are unable to tolerate the plausible damage or if stress and tension are harmful to your health, do not ever do any kind of trade or open any account. According to scientists’ research, Forex is among the top five most stressful jobs in the world and for those who are not ready for that, can be drastically damaging.

  1. Forex is a real market, and changes in the price of currencies in that is on account of the immense commerce performed by eminent banks and brokers that connect such trades to banks. Accordingly, prices, at a specific time, are mostly same in both banks and brokers, and if a difference may exist, it is to the limitation of spread.

Part IV: Financial rules between the Client and the Company
  1. We are strongly committed to the rules of Anti-Money Laundering Committee (AMLC), and in case of observing suspicious cases of money laundering, we will inform the related authorities of country of incorporation immediately.

  1. The financial relation between the Client and the Company should be invoked without any intermediaries. To put it another way, the Client has to send money from his/her bank account or electronic account with his/her own name entitled to the Company.

  1. Withdrawing money between clients is impossible under any circumstances.

  1. If, due to any reason, the Client intends to make a withdrawal by not the method he/she used to deposit with earlier, he/she is allowed to carry out such operation just when the Company gives him/her that permission. The withdrawal may be possible when the Client passes the authentication procedure established by the Company. The procedure includes some amount transfer (determined at the discretion of the Company) from the Client bank account to the Company account and signed relevant contract.

  1. Withdrawal from the Client’s account(s) may take from one (1) hour to three (3) workdays in normal conditions, and in case the Client has given the Company wrong information or provided that shady affairs are seen in the process of opening account, deposit, withdrawal and trading, the Client’s withdrawal will last until the removal of the suspicious affairs.

  1. The Client acknowledges that the money source that he/she sends to the Company belongs to himself/herself and does not comprise bank loan, debt, warranty, and other individuals’ credits. In addition, the Client acknowledges that his/her capital or holding is not a result of fraudulent and unlawful deeds, and also he/she trades on his/her own trading account and is responsible for the whole trades.

  1. The deposited funds after being received by the Company, will be added to the Client’s account instantly. The Client, whenever he/she tends, is able to request for the withdrawal of a part of or all of his/her free margin, which is not involved in trading. Company will not accept any third party payment and reserves the right to refund the amount with fee deduction.

  1. Conspiracy between the Client and IB (Introducing Broker) for the purpose of generating commissions is illegal, and the warning of aborting the cooperation will be sent to both sides. Also, any illegal rebates made by that way will be removed.

  1. The profit or loss of those positions which are opened and closed by the client is acceptable only if the positions are connected to the bank. Any trade which lasts more than 7 minutes will be connected to our providers but if it lasts less, it needs to be checked according to our providers’ reports. The client must know that opening and closing a position on our platforms is not enough for accepting his/her position. Therefore, there is no guarantee for the payment of the positions ceased or hedged presently and the Company recognizes them as illegal scalping.
  1. Setting pending orders is not allowed at the market closing time because when the market opens on Monday, a gap may occur and it can cause the activation of pending orders. In this case orders cannot be connected to the bank.

  1. To present information on the website and on the trading platform the Company sends some data about the market; these data are for discussion on the market, and there is not any recommendation for the Client to buy or sell. The Company is not responsible for the Clients’ deals and exchanges, and the Clients are completely autonomous in purchasing and selling.

  1. According to our liquidity providers’ reports and also Fxglory head quarter’s decision, Fxglory chooses to be a fixed spread Forex brokerage. Fxglory ensures clients that we will not make spread wide on the low volume market hours. It is obvious that the trades which are made during those hours by the means of misusing this opportunity will not be guaranteed. In case of abusing, Account will be closed and the deposited amount will freeze for 90 days.

Part V: Fraudulent activities and prohibited transactions

  1. In case of observing any suspicious affairs in financial bonds of the Client with the Company, the account of the suspicious person (the Client) will be blocked, and the Client’s open trades will be closed. The Client has to accept the harm as a consequence of the blockage of his/her account(s) for suspicious reasons.

  1. The Company reserves the right to suspend and/or close the Client account(s) in case of any fraudulent activity, any attempts to defraud the Company or other Clients and/or fraudulent payment (using stolen credit cards, any chargeback, or other reversal of a payment) and prohibited transaction it would share the Client’s information and documents to relevant legal authorities in order to reveal a fraud case.

  1. If the Company finds out any attempts of the Client to defraud or damage the Company and/or services in any way, the Company reserves the right to hold the Client’s fund until the issue clearance and settlement by the Client.

  1. Recording a trade on MetaTrader 4 does not mean the complete performance of the trade at the bank. Some Clients, by running illegal Expert Advisers, conduct some unsubstantiated and fake trades and they misuse the brokers’ favor in not sending error for the real price in order to generate false profit for themselves; it is recognizable by different ways and includes various methods which the Company will elaborate thoroughly if necessary. All the suchlike deeds classified in this segment are illegal; in case of observing, financial bonds with the Client will be ceased and the source of his/her first investment (before doing this fake action) will be returned to any account by means of which he/she has done the charging process.

  1. The customer acknowledges and agrees that FXGlory does not support any forms of copy-trading through any systems and platforms that may provide such services. The client himself/herself has to be the only one to access the account provided by the broker, therefore providing any 3rd party services/platforms with the account’s credentials in order to open/close or modify trades on behalf of the client is illegal, against the broker’s policies and may cause the client’s account to be temporarily or permanently closed.

Part VI: Miscellaneous
  1. Any complaint against the Company, its managers, or its staff will be dealt by the country of incorporation authorities and the complainer himself/herself must pay all the costs of the lawyers of FXGlory Company.

  1. The Company due to its policies and rules does not accept those Clients who are resident of countries like Iran, North Korea, Syria, Sudan and some other countries which are under UN sanctions. The Company will just present its services to those Clients whose country is listed on our website. The fund of those Clients who violate this rule will be deposited back net of any transfer fee or other charges incurred by Fxglory. If the Client opens an account with feigned information, his/her account will be blocked.

  1. The Client must send the official copy of his/her documents certified by legal entity to the Company address in case of the Company request.

  1. The Client is obliged to give correct and appropriate information to the Company; in case of any changes in the information, he/she must notify the Company instantly.

  1. Under any circumstances, the Client’s information will not be unveiled to the third party except for the cases in which it is required by legal authorities. Such exposure of information will be done only as “need to know”. In this case, the Company informs the third party that such information is confidential.

  1. The Company supplies with published tradable prices and information via the website and trading platforms. The Client assures that the instruction of trades sent by the Company through trading platform does not have to be reconfirmed by the Client; in this regard, maintaining the user account information is essential for the Client.

  1. Each country has its unique rules and regulations. Sometimes trading Forex in a country would be contrary to local laws or regulations. The Client takes responsibility of violating the laws and regulations of his/her living country.

  1. The Client takes responsibility of any losses which may occur in case of Force Majeure events like: political, economic, and social crises or natural disaster.

  1. The Company does not guarantee any “Stop loss”, “Take Profit”, and “Pending Orders” in time of any important news and when a gap occurs in the opening time of the market.
  1. Doing high-volume trades which require a leverage more than 1:100 before closing time of the market , important news and low volume time frames (to take profit of probable market gaps as an abuse) is forbidden. Delinquent Client’s account will be blocked and his/her initial deposit will be refunded after 90 days.

  1. The Company has the right to remove the pending orders in the market closing time on Friday.

  1. The Company reserves the right for itself to reject those pending orders which cannot be connected to its liquidity providers due to technical problems.

  1. The Company will disable those accounts which are inactive for more than six (6) months or their balance is less than 15 (fifteen) USD.

  1. Considering company payment providers’ policies and the fact that countries have different regulations in terms of financial transactions, the company reserves the right to offer different withdrawal methods in case of facing financial issues with some certain methods.

  1. Сlient declares and admits that broker will be the only reference who decides about any claims which may occur between client and broker. Involving any third party is neither acceptable nor admittable.

  1. In case of any technical errors in MetaTrader 4 & 5 platforms or its quotes, such as invalid quotes, unusual gaps, quote freezing, opening an order in negative balance or any other unusual system function, client is obliged to inform the broker and any misuse of that situation to earn profit will be considered as illegal trading and broker reserves all rights to take legal action against the criminal client.

  1. The customer acknowledges and agrees that FXGlory may require additional KYC, any other supporting or proving documents and agreements required to be signed and provided by clients anytime and client is obliged to provide them to the broker. Customer knows that failing to provide such documents may result in their account at FXGlory to be temporarily or permanently closed, as well as their funds/balance on their account to be frozen/blocked for trading or withdrawals until mentioned papers are provided by them.

  1. Since trading is done online through the software, there is a small possibility of anything happening out of order. However, the Broker declares that each case will be considered as a valid trade just after being checked by the accounting department based on authorities’ reports.

  1. The working hours of the Clients’ trading platform for different currencies are as follows:
  • From 00:00 GMT+2 on Monday through 00:00 GMT+2 on Saturday

  1. The office working hours are as follows:
  • From 10:00 GMT+4 on Monday through 19:00 GMT+4 on Friday

Part VII: Termination of User Agreement and liquidation of accounts
  1. The above Agreement endures from the date of opening account by the Client and it shall remain in force until terminated by either party. The Company reserves the right to cancel and/or hold all the previous transactions on the Client’s account(s) in the following cases:
  • The individual’s action against the Company’s interests such as publishing fake facts and the attempt to present the Company in inappropriate categories.

  • Performance of any kind of fraudulent and criminal act by the Client that involve the Company, directly or indirectly, by any means and may cause a risk for the Company’s interests.

  • In any condition, if the Client wants to misuse price discrepancy (Arbitrage) in order to benefit from it and cause a loss for the Company with use of additional functionalists/plug-ins (i.e. Expert Adviser, etc.) or in any other way.

  • The Company makes sure that the Client’s trading activity in any way effects on the reliability, security, regularity, proficient operation of the Company’s trading platform.

  1. Either party (the Company and the Client) can terminate this Agreement by giving seven (7) business days written notice to the other party. During the termination notice, the Client have to close all his/her open orders; otherwise, the Company reserves the right to close all Client’s open orders.

  1. The Company reserves the right to terminate the Agreement without prior (7) business days written notice to the other party in the following cases:
  • The Client’s death
  • Any unauthorized and fraudulent activities
  • Lack of the Client’s activity
  • Any measures of bankruptcy
  • Contravention of any provisions of this Agreement or any other Agreements

  1. 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.

  1. Upon the termination of this Agreement, the Client must pay for: (a) any prominent fees, commissions and any other payable amount to the Company; (b) any additional losses and/or expenses caused as the result of termination of the Agreement; (c) any damages arose during the settlement and conclusion of the obligations incurred by the Company on the Client’s behalf.

  1. In case of the proof of Client’s insanity or death, which prevents the return of money to the Client himself/herself, according to the laws of the nation whose nationality the Client has, the inheritor will receive the amount of the balance in account, and this is a time-consuming process, which lasts from one month to six months; the Client’s inheritor must also present all the requisite documents to the Company.

  1. Company may, at its discretion and without liability to the Client, with or without prior notice and at any time, temporarily suspend or permanently terminate his/her access to all or a portion of any Services.

Part VIII: Changes to this Agreement
The right of changing the contract is reserved by the Company itself for its own sake, at any time and without prior notice. If you make any transaction on or after the amendments to this Agreement have come into effect, you will be deemed to have accepted the changes.