Terms & Conditions

This Agreement is arranged between Glare Markets Company and a party (subsequently being noted as the “Client”, “Trader” or “Customer”) who has registered for a trading account with the Company (subsequently being noted as the “Company”).

You accept the Terms & Conditions of the Site use.
In case you do not agree with any item or terms partly or in general, you are recommended not to use or proceed with any action on the Website of the Company.

To perform any actions on the Website and to open a trading account with the Company, the age of an individual must be at least 18 years old. In case of detecting an account, the owner of which has not reached the legal age, the account will be deactivated.

USE OF THE PLATFORM

1.1 The Client is entirely acquainted with this Agreement, including the supplements, and fully understands its contents and prerequisites.

1.2 The Client has an absolute right to visit the trading platform and use the information that is provided on the Website.

1.3 The Company has the right to improve the trading account of the Client, increase the level or the type of it, update or revise the Website or General Terms of Use, refine the services proposed to the Client if it reasonably approved that this is of an advantage to the Client.

1.4 The development of these Terms of Use comes into force upon announcing. The Client, who continues usage of the Trading Platform, is agreeing with the change on this date unless the Client informs the Company that he/she requests to break the Agreement and does not accept this change.

1.5 It is strictly forbidden for the Customer to use an outer realization system or a robot introduction that uses an artificial intelligence analysis to the systems on the Platform of the Company.

ANTI-MONEY LAUNDERING

The Company adheres to the highest standards to effectively combat money laundering (AML) and terrorist financing. Subsequently, the Company carries out full-scale activity aimed at the detection and prevention of money laundering and terrorism financing. The Company reserves the right to refuse to carry out any operations at any stage, in a case in the Company’s opinion, a particular operation has any connection with money laundering or interaction with criminal activity.

– In connection with the Company’s mandatory Conditions under AML and KYC Policy, each customer of the Company must undergo a verification procedure. The Company requires the provision of all necessary evidence and any other necessary measures for appropriate cooperation, which represent, satisfactory and reliable proof of identity of any Client.

– Funds transferred to the Company must be transferred by means of a bank account or credit/debit card, which is issued in the name of the account holder in the Company.

– All or part of the capital withdrawn from the Client’s trading account must be transferred to a bank account or credit/debit card, which is in the name of the account holder with the Company.

– The Client can only open one account under his own name. Any account opened under the same name by mistake is not solvent.

KYC (KNOW YOUR CUSTOMER) POLICY

The Company is committed to ensuring the safety and confidentiality of any personal information received from the Client, namely account information and transactions, using all security measures and procedures to combat fraud to ensure the security of electronic transactions of the Client.

Basic requirements:

– The Company requests a color scanned copy or a clear picture of the front and back of the Client’s ID card, passport, or driver’s license (only one document is required at the discretion of the Client).

– A color scanned copy or a clear picture of the Client’s utility bill to confirm the Client’s home address, e.g. utility bill (water, gas, electricity bill, etc.), bank statement, insurance policy, with such information as the Client’s name, a valid address and valid date of issuance (not exceeding 3 months).

– A color scanned copy or photograph of the credit/debit card that was used to make the deposit, as well as all the available information on the document, except for the personal CVV number on the backside of the card, which the Client undertakes to secure while providing it to the Company.

ACCESS

The Website itself and the information that is provided on it, tools, information about the services, and other assets cannot be distributed by any individual or legal entity located in a certain jurisdiction, or by a citizen of a particular jurisdiction in which there is a possibility of copying or using the given data for the implementation any other purposes or prohibited actions that violate the law of this jurisdiction, the charter of the Company and/or any of its branches.

When using the Site, the Client accepts the Terms and Conditions and agrees with all the prescribed settings established for using the Website, namely, using the Website and its tools in an appropriate way, to prevent violations, illegal actions, or the introduction of prohibited materials uploaded by the user, which may jeopardize the rights of the Company.

LIMITATION OF LIABILITY

Under no circumstances, including due to the Client’s negligence, shall the Company be liable for any special, incidental, direct, indirect or consequential damages of any kind (including, but not limited to, damages resulting from loss of commercial profits, currency interventions, government decisions, instability in financial markets with a sharp drop in liquidity, as well as for any other material damage), arising from the use (or misuse) of the service, even if the Company has been previously informed of the possibility of such damage.

INTELLECTUAL PROPERTY

The Company owns the copyrights to the screens and pages on which the Website (www.glaremarkets.com) is located, as well as to any materials placed on the Website.

Customer Agreement

Present Agreement is negotiated between www.glaremarkets.com (subsequently being noted as the “Company” under the Glare Markets trademark), on the one side, and the Customer who required the opening of a trading account on the Company’s online trading platform, admitted by the Company as a Client (subsequently being noted – “Customer”) on the other side, based on the Terms and Conditions set out here.

INTRODUCTION

Present Agreement, which includes all lawfully attached documents submitted between the Company and the Customer and in which amendments are made occasionally, defined on the Company’s trading platform the conditions under which the Company will cooperate with the Customer regarding order placement and trading. The Customer is allowed to make the transactions on the trading platform at the same time, it is necessary to pass the verification procedure in order to confirm the identity of the account owner, as well as submit the necessary documents in accordance with the requirements of Glare Markets.
The Client’s Account may be temporarily or permanently suspended/closed upon the Company’s order if the relevant necessary information has not been provided before that time. The Company retains the right to decline the application to open an account with or without affirmation.

OPENING OF THE TRADING ACCOUNT

How to get an account with the Company:
– Fill out the account application form. The Company resolves at its own discretion decides to approve your application for an account.
– If the Company approves your request, a Customer’s account will be opened and the Customer will be requested to make a deposit to his/her trading account.
At the time the funds have been transferred, the Company will credit the transferred amount to the Client`s account. The account will be activated after the above-mentioned requirements have been completed.

INVESTMENT

1. To proceed with a transaction, you have to deposit a satisfactory amount of money into your bank account in order to cover the desirable transaction. You may deposit funds to the account by means granted by the Company.

2. Funds can be transferred by credit card, bank transfer, or virtual transfer to an account provided by the Company.
Glare Markets at its discretion may modify, supplement, or change the payment methods represented on the trading platform. The amount of the minimum initial deposit is limited to 250 USD, GBP, or EUR.
Glare Markets, at its own discretion, may make changes, additions, or corrections to the payment methods presented on the trading platform.
Possible payment methods in Glare Markets:

– Credit card;

– Debit card;

– Prepaid card;

– Bank transfer.

In most cases, when the Client complies with his/her payment commitments to the Company using relevant payment methods, the transferred funds will be reported on his/her trading account, but this amount will be enabled for withdrawal no earlier than 14 (fourteen) calendar days after the transaction has proceeded until the Company decides at its own discretion. The withdrawal procedure can be implemented by the same payment methods as the preceding transactions have been accomplished (Credit Card / Debit Card / Prepaid Card / Wire Transfer) and only to the current proprietor of the account.

3. Selecting a base currency that differs from the base currency of your bank account may result in amounts charged to your credit card that may differ slightly from the amount paid primarily due to exchange rates, currency fluctuations, and fees charged by credit card issuers. Therefore, you acknowledge that such a discrepancy may occur and thereby confirm that you will not attempt to prevent the above charges.
4. For the transfers made using a Bank Account in accordance with AML policy, you should use only the bank account that is available in your country of residence and on your behalf. The actual SWIFT confirmation or the Transfer receipt confirming the source of funds should be sent to the Company. Failure to provide such SWIFT confirmation may result in a refund, which will prevent the transfer of such outstanding amounts to your trading account. Any withdrawal of funds from your trading account to a bank account can be refunded only to the same bank account from which the funds were first deposited.
5. The personal information used to accomplish the orders placed through the Glare Markets Website, particularly your personal data and credit card information, will be deemed as strictly confidential. We guarantee to take all reasonable safeguards to secure the processing of credit cards to receive the financial services we propose. Please, note, that the Company is not liable for the security disturbances that happen on your electronic device (personal computer or another electronic device used to view the Site). This may happen due to the lack of corresponding anti-virus software, or spyware, which you may have installed on your device.

FEES & CHARGES

1.  During the operations, the Company does not charge any fees from Clients, unless the parties agree to the opposite. Nevertheless, all bank fees (for transfers, commissions, etc.) will be taken from the Client’s bank account. Due to the fact that bank fees are constantly changing, please contact the Customer Support Service for more precise information.
2. The Company, as a rule, gets a disbursement for the procuring of Services to the Trader, establishing the transactions at prices that include a premium, discount, and/or supply/demand distribution. The fee is generally charged from the seller’s account for the transaction but may refer to other conditions determined by the Company at the given times. The Trader is aware that these commissions change on a daily basis and continuously, depending on many factors, such as market conditions, currency pairs, other financial instruments in the market and etc.
3. Generally, the Company provides Services to the Trader by setting transactions at the prices containing a bonus, discount, and/or offer/request distribution. As a rule, the fee is charged from the seller’s account for a transaction, but may refer to other conditions determined by the Company at a certain time.
4. When the Company transfers funds to the Client from the Trading Account, the processing fee is charged.
5. For all open positions that remain open every day after the closing of a trading session, swap charge at the rate may apply.
6. The Company reserves the right to change the amount and interest rate of its fees occasionally, of which the Client will be informed thereafter.
7. From time to time the Company reserves the right to make changes in the amount and percentage of its fees, on which the Customer will be informed in the further course.

BONUS POLICY

1. A customer who has not refused the Company’s offer to take part in a bonus or loyalty programs (hereinafter referred to as ” Customer ” or “Trader”).
2. The Customer acknowledges his agreement to read the Company’s bonus policy properly before processing the Company’s bonus program or accepting a bonus or premium.
3. The Company provides the Customer with additional bonuses. The Non-acceptance of this promotion by the Client does not affect the cooperation between the Customer and the Company in any manner.
4. Specifics and features of promotions and bonuses, including other forms of customer encouragement, have been elaborated by the Company. The Company has at its disposal the opportunity to select Customers for the proposals submitted in a particular subject area. Special promotions or bonuses on equal terms will be offered to certain Customers. A trader is strongly advised to consider all the specifics of the bonus being offered attentively. This policy is mandatory for the Customer during the whole period of bonus duration.
5. The process of bonus management by the Client will require a sufficient level of knowledge in trading. The use of bonuses or promotions without proper qualification can not only contribute to profit, but also lead to losses. There is a risk of losing your bonus funds when trading CFDs.
6. It is prohibited to sell or share bonuses with third parties. Under certain conditions, bonuses and promotions are credited to a certain trading account and cannot be transferred to another trading account.
7. The bonus and promotions currency is exactly the same as the basic currency in the Client’s account.
8. The duration of the promotions and bonuses is established by the Company. The terms and conditions of all promotions extend to all bonuses. In case of non-compliance with the Terms and Conditions, the Company has the right to cancel this offer if a trader does not accept these Terms and Conditions. The Company cannot adjust the validity period of a Bonus or a Promotion without prior notice.
9. In case the Company has any suspicion of the Client abusing the Company’s actions or having committed a contractual relationship between the Company and the Trader, the Company is entitled to revoke the bonuses or close the Client’s Trading Account.
10. Processing of the withdrawal request from the Bonus account will be carried out only after the completion of the required trading volume: Bonus amount *3 in lots, or in case the Bonus amount has been replaced by the Customer with his/her own funds.
11. Usage of an account with loans received from the Company is limited to withdrawals, depending on the payout or in accordance with the turnover agreement.

CFD (CONTRACTS FOR DIFFERENCE) TRADING PLATFORM

Market influence

A CFD is a derivative asset that is used by a trader to profit from movements in underlying assets. Assuming that the underlying asset will grow, the long position will be chosen by the investor. On the opposite, if the investor is sure that the valuation of the asset will fall, he will choose a short position.  It should be considered that unexpected changes in information about market conditions and government policy can lead to rapid changes. Due to the specifics of CFDs, small movements may have a significant impact on profit. Adverse impacts on the value of the underlying asset may result in the necessity to repay margin to the supplier. If the Client does not observe margin requirements, the supplier may also close your position or you may have to sell it at a loss.

Liquidity and gaps

Market conditions have an impact on many financial processes and can increase the risk of losses. Due to the insufficient volume of transactions on the underlying asset in the market, your current contract may become illiquid. At this stage, your CFD provider may ask for additional margin fees or close contracts at lower prices. Due to the rapidly changing structure of the financial markets, CFD prices may fall until your trade can be enforced at a price previously agreed, also known as a “gap”. Thus, the contract owner will have to make less than optimal profit or cover any losses incurred by the CFD provider.

Summary

When trading CFDs, stop-loss orders can help reduce visible risks. A guaranteed stop-loss order offered by some CFD providers is a pre-defined price that automatically closes the contract when executed.

However, even with small initial investments and profit opportunities, trading CFDs can lead to illiquid assets and big losses. Considering taking a part in one of these types of investments, it is necessary to assess the risks associated with products using borrowed funds. Possible losses may be higher than it was previously expected.

INDEMNITIES

  1. Subject to this Agreement, the Customer fully understands and agrees of his or her obligations and defends Glare Markets, its directors, managers or employees, and is fully responsible for any damage, loss, cost, or expense caused by the inability of the Customer to fulfill his or her obligations set forth in the Terms and Conditions or in connection with any violation of applicable laws or regulations.
  2. In all cases where the Customer is liable to directors, officers, or employees of Glare Markets within the indemnity provided in the previous paragraph, Glare Markets is entitled to cancel this amount from any balance of the Customer’s open account in Glare Markets.
  3. Subsequent payments to the Client’s trading account, on his own initiative, and with his consent, will be considered as evidence of the good quality of services provided by the Glare Markets.
  4. The Company must communicate with the Client in English. Any other language suitable for both parties to the Agreement may be chosen by prior arrangement.
    Glare Markets may revise or amend this Agreement or its terms and conditions from time to time without Customer’s consent by posting the amended terms and conditions on the Site.
    This agreement was developed in English. In the case of a conflict between the meaning of the translated version of this Agreement and the English version, the English version shall prevail.
  5. The Client must apply for a settlement on his/her requests at support@glaremarkets.com. Processing can take up to 7-10 working days. During this time the Glare Markets must review all transaction history, telephone records, e-mail information, and documentation provided by the Client. The Client must be informed that the Company may request additional information or documents.
  6. In case if there were no transactions made through the trading account of the Client or his trading activity is very low during the period specified by the Company (discussed between the Client and the manager in advance), or if there is no minimum balance on the trading account of the Client, the Company may charge him a commission for trading inactive trading accounts. The minimum amount for management on a permanent basis is set by the Company. The offer is stipulated by the Company. In this case, the Client will be additionally notified about the amount of invalid payment.

The Company reserves the right to limit or close some or all of the open positions and / or access to the Client’s trading account after the termination of this Agreement.