Client Trading Agreement (the "Agreement") is between the
website user or client (the "
and General Trade Global Limited (“General Trade”).
The Agreement supersedes any other agreement, and in the event of any questions open to interpretation with respect to any other sources, this agreement shall prevail. Any perceived contradictions should be relayed immediately to General Trade for clarification. Any differences that may be perceived between the English language version and any of the other operational languages, the English version will prevail.
The order in which items appear have no correlation to their importance.
A) GENERAL UNDERSTANDING
DEFINITIONS USED IN THIS LEGAL DOCUMENT
The “Client” is defined as any counterparty to General Trade,
including but not limited to subscribers and users of the General
Trade platform. This may refer to an individual or an
Base Currency: The “Base Currency” refers to the currency in which all the transactions are made from or to General Trade. The Base Currency in this document is United States Dollar, commonly abbreviated as USD or represented as $.
Business Day: “Business Day” refers to any day that the banking system is open in the United States.
Products: “Products” refer to all the products offered by General Trade, including but not limited to, those provided via the platform and by telephone.
Guarantee Enhancer: “Guarantee Enhancer” refers to any guarantees provided over and above the funds in Client's account registered with General Trade.
Platform: “Trading Platform” refers to the electronic software
and/ or web based service provided to Client by General Trade for the
purpose of executing financial transactions.
Trade: “Trade” refers to an execution of an order through the General Trade trading platform or via telephone.
General Trade Trading Desk: “General Trade Trading Desk” refers to the trading desk operated by General Trade.
General Trade Online Trading System: “General Trade Online Trading System” refers to the web-based trading system available at the following URL: www.generaltrade.com, which allows Clients to trade.
Network: “Network” refers to any kind of equipment involved in the execution of transactions: including but not limited to hardware, software, and the Internet capabilities of both parties.
Completed Trade: “Completed Trade” is associated with any transaction where a confirmation is communicated to a client. Confirmation may take many forms, including but not limited to the posting of a transaction on the client’s trading blotter.
OVERVIEW OF TERMS AND CONDITIONS
COMMUNICATING WITH GENERAL TRADE
may contact General Trade via phone or email. The primary language of
communication is English. General Trade makes every attempt to reply
promptly to all clients’ queries. General Trade may utilize the
services of a translator in order to address inquiries made in
languages other than English. This may delay the response time.
General Trade is the counterparty in all transactions. This is a consequence of the nature of the products that General Trade offers.
The clauses of this agreement enter into effect when a client creates any kind of account (including training account) with General Trade.
AND REGULATORY ENVIRONMENT
General Trade Global Limited, and therefore by extension General Trade, comply with generally accepted rules and regulations, as well as generally accepted accounting norms. As is the case with multinational entities, General Trade Global Limited will adhere to the applicable laws of the jurisdiction in which it operates. General Trade can and will pursue matters in any recognized jurisdiction.
ABOUT REGULATORY INQUIRY
General Trade will fully comply when a government or a regulatory body approaches it for more details about a specific account or a specific transaction. General Trade may disclose information to regulatory agencies and government agencies only. No information about the accounts managed by General Trade or about specific transactions may be disclosed to private third parties.
General Trade adopts a high priority policy in reimbursing its clients whenever a valid amount of money is requested. Any balance not required for margin purposes will be furnished to the client as expediently as possible. Wire transfers are also available for reimbursement, however will incur a bank-handling fee of USD 40 in addition to any charges assessed by Client’s bank.
LONGEVITY OF AGREEMENT
the Client agrees that this agreement will be in effect until the Client terminates the agreement by submitting a written request to General Trade or if General Trade notifies the Client about the termination of the agreement regardless of any reason. It is recommended that if Client wishes to cancel agreement he notify General Trade by confirmed email. Termination of contract does not release either party of any liabilities that it has accumulated during the contract period. General Trade reserves the right to make any modifications or changes as necessary to this agreement with or without notifying Client. It is recommended that Client should check the validity of this agreement from time to time.
NON-ADVISORY ROLE OF GENERAL TRADE TEAM
General Trade assumes that its clients are at least 18+ years of age. It is assumed that the Client is independent and expected to make rational decisions about his monetary investments. General Trade openly acknowledges that stocks and securities trading may involve risks. Therefore, it is presumed that any particular Client transacts in a manner that is suitable to his risk tolerance. General Trade bears no responsibility for any losses suffered by the Client due to trading, regardless of any reason.
OPINIONS AND RESEARCH
The General Trade team invests lots of time and money to provide the most accurate analysis for our Clients. However, General Trade will not be held accountable for any financial loss that may occur due to miscommunication or misinterpretation about an opinion delivered by a General Trade staff member when a Client requests an opinion. It is the responsibility of the Client to judge the opinion and make a rational investing decision on his own.
GENERAL TRADE RESEARCH
General Trade provides in-house market and trading research and develop financial reports. These are not recommendations but opinions and may not be accurate. Therefore, the Client is solely responsible for making any trading decision based on our in-house research.
General Trade permits clients to
transact through following trading platforms that offered: 1) General
Trade Laser Trading.
2) GTrade. General Trade is committed to fighting privacy violations
and identity theft.
via Telephone: If a transaction is conducted via telephone, the
General Trade team reserves the right not to execute the order if the
General Trade team is unable to verify the identity of the client. In
such circumstances, the Client may be asked supplemental information
in order to determine the authenticity of the trade request. All
telephone conversations may be recorded for security purposes. Any
instructions given to General Trade via the telephone will have an
associated time limit. It is the sole responsibility of client to
understand at what time the order ceases.
Transaction Via Platform: Any transaction through the platform is considered final after the password has been supplied to log into the trading account. Therefore, it is the responsibility of each and every Client to protect his/her account against any unauthorized and unintentional access.
normal market conditions clients can execute to the extent that their
margin can support. Under extraordinary conditions General Trade has
the right to modify any aspect of an order including but not limited
to order size, entry or exit price and instrument.
Orders Via Telephone: Orders via the telephone may trigger additional requirements as they relate to client identity verification. Client will be notified immediately if the order is subject to any conditions.
AND CONFIRMATION OF TRANSACTIONS
E-trading or electronic trading ensures immediate confirmation of transactions. No additional memo or mailing correspondence will be needed. If an order is processed via phone, the confirmation of the transaction will be posted in the account of the client as soon as possible. No further communication should be expected.
General Trade keeps the funds of its clients secure. As part of its AML compliance protocol, General Trade does not forward funds of its clients to any third parties.
Wire Transfer: The funds are wired to an account, which is in the same name as that of the account holder. This policy is in direct compliance with International Anti Money Laundering (AML) laws. No exceptions, whatsoever, are made with regard to this policy.
General Trade provides state-of-the-art General Trade Laser Trading Platform and /or Gtrade Trading Platform. The General Trade team has gone to great lengths to ensure that the desktop platforms are free of any bugs and other issues. It is solely the responsibility of the client to ensure that his operating device is compatible with the General Trade Laser Trading Platform.
Disruption Of Service
If there is a disruption of service due to issues in the platform, General Trade will notbe held accountable.
to the trading platform is the sole responsibility of the account
holder. If account holder believes his password has been compromised,
General Trade should be notified immediately and the General Trade
team will issue a new password.
G) TEMPORARY AND/OR PERMANENT WITHDRAWAL OF SERVICE
General Trade reserves the sole power to revoke the Client’s access to its trading platforms. General Trade will be bound to take such a course of action if:
i) The Client attempts to trade repeatedly without adequate margin
ii) The Client exhibits abusive behaviour in his/her interactions with the General Trade staff.
iii) A relevant Government agency or a regulator gives legal orders to revoke access
General Trade discovers that misleading or false information was
provided during the Client’s account opening form or any other
Regardless of the abovementioned points, General Trade reserves the right to revoke the access of the Client to the trading platforms without providing any notice or explanation.
Client funds are not isolated. All the client funds are aggregated. Therefore, these funds do not earn interest. Requests to withdraw client funds will be processed within 48 hours of receiving a request complying with company policy and procedures. If a withdrawal request cannot be processed, it implies that the Client funds are currently being used to fund open positions and therefore, the Client will be notified to adjust his positions accordingly.
Credit card deposits
Credit card deposits may be processed by General Trade Belize and/or its wholly owned subsidiary General Trade Global Ltd with Reg No. UIC 204278472 - No. 37 ul. Uilyam Gladstone Street, District Sredets,Sofia 1000, Bulgaria.
If an account is left dormant with at least six months of inactivity, General Trade will make reasonable and repeated attempts through email, mail and/or phone to contact Client. If no contact can be established, within 12 months the funds will be transferred to General Trade and the trading account will be closed.
I) CLIENT ATTRIBUTES
General Trade operates under the presumption that all client documentation provided by Client is current, truthful and lawful. General Trade makes diligent efforts to verify the validity of the provided documents. Moreover, General Trade assumes that Client understands the implications of providing false information. If the Client is a Corporation, General Trade assumes that it has been duly organized and constituted, and that the corporation is permitted to trade in financial instruments, and has the ability to sustain financial losses.
Irrespective if the client is a natural person or a corporation, General Trade expects the client to behave in a compliant manner. General Trade does not tolerate any client behaviour that may disrupt the market or is essentially predatory in nature.
ACCOUNT IN DEFAULT
IN THE EVENT THAT CLIENT’S ACCOUNT IS DEEMED BY GENERAL TRADE TO BE IN DEFAULT CLIENT WILL LOSE TRADING PRIVILEGES AND THE AGREEMENT WILL BE TERMINATED. DEFAULT IS DEFINED BY GENERAL TRADE AS FOLLOWS:
· Client fails to honour any financial commitment towards General Trade, such as a margin call, where a reasonable period of 12 to 24 hours has been given.
· A third party has commenced legal proceedings against Client and has evidence to back their claims.
· Client has intentionally or
unintentionally begun proceedings associated with financial
mismanagement, such as bankruptcy.
· A regulatory authority has placed a hold on Client’s account.
· Client is incapacitated and cannot be realistically expected to honour its trading obligations.
· Any credit enhancer associated withClient’s account has been cancelled or revoked.
Client violates regulatory rules, such as concealing the fact of
trading on behalf of third parties from General Trade.
· Any behaviour that may attract the scrutiny of regulatory or law enforcement officials.
EVENT OF DEFAULT
a default occurs, liquidation of Clients assets and open trading
positions will be processed in a manner deemed appropriate by General
Trade. Any amount of money requested by the trustee or any other
authorized person on behalf of the client will be offset against any
amounts due to General Trade, including but not limited to any legal
fees & charges that are associated with the account in
RESPONSIBILITIES OF GENERAL TRADE AND GENERAL
Trade Global Limited, General Trade, and of their shareholders,
members shall not be held liable for any losses, both direct and
indirect, suffered by a Client, subject to the terms and conditions
of this Client Trading Agreement. The Client Trading Agreement shall
take precedence over this and any other publication by General Trade.