1. OUR SERVICES
The information provided when using the Services is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Accordingly, those people who choose to access the Services from other locations do so on their own initiative and are solely responsible for compliance with local laws, if and to the extent local laws are applicable.
2. INTELLECTUAL PROPERTY RIGHTS
Our Intellectual Property
We are the owner or licensee of all intellectual property rights in our Services, including all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics in the Services (collectively, the "Content"), as well as the trademarks, service marks, and logos contained therein (the "Marks"). Our Content and Marks are protected by copyright and trademark laws, as well as various other intellectual property rights and unfair competition laws and treaties in Mauritius and other jurisdictions where we operate. The Content and Marks are provided in or through the Services "AS IS" for your personal, non-commercial use or internal business purposes only.
Your Use of Our Services
Subject to your compliance with these Legal Terms, including the "PROHIBITED ACTIVITIES" section below, we grant you a non-exclusive, non-transferable, revocable license to:
• Access the Services
• Download or print a copy of any portion of the Content to which you have properly gained access, solely for your personal, non-commercial use or internal business purposes.
Except as set out in this section or elsewhere in our Legal Terms, no part of the Services and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose whatsoever, without our express prior written permission.
If you wish to make any use of the Services, Content, or Marks other than as set out in this section or elsewhere in our Legal Terms, please address your request to: support@gccbrokers.com. If we ever grant you the permission to post, reproduce, or publicly display any part of our Services or Content, you must identify us as the owners or licensors of the Services, Content, or Marks and ensure that any copyright or proprietary notice appears or is visible on posting, reproducing, or displaying our Content.
We reserve all rights not expressly granted to you in and to the Services, Content, and Marks. Any breach of these Intellectual Property Rights will constitute a material breach of our Legal Terms and your right to use our Services will terminate immediately.
Your submissions and contributions
Please review this section and the "PROHIBITED ACTIVITIES" section carefully prior to using our Services to understand the (a) rights you give us and (b) obligations you have when you post or upload any content through the Services
Submissions: By directly sending us any questions, comments, suggestions, IPQ, feedback, or other information about the Services ("Submissions), you agree to assign to us all intellectual property rights in such Submission. You agree that we shall own this Submission and be entitled to its unrestricted use and dissemination for any lawful purpose, commercial or otherwise, without acknowledgment or compensation to you.
Contributions: The Services may invite you to chat, contribute to, or participate in blogs, message boards, online forums, and other functionality during which you may create, submit, post display, transmit, publish, distribute, or broadcast content and materials to us or through the Services including but not limited to text, writings, video, audio, photographs, music, graphics, comments, reviews, rating suggestions, personal information, or other material (Contributions"), Any Submission that is publicly posted shall also be treated as a Contribution.
You understand that Contributions may be viewable by other users of the Services
When you post Contributions, you grant us a license (including use of your name, trademarks, and logos): By pasting any Contributions, you grant us an unrestricted unlimited, irrevocable perpetual, non-exclusive, transferable, royalty-free, fully paid, worldwide right, and license to use.
When you post Contributions, you grant us a license (including use of your name, trademarks, and logos): By posting any Contributions, you grant us an unrestricted, unlimited, irrevocable, perpetual, non-exclusive, transferable, royalty-free, fully-paid, worldwide right, and license to: use, copy, reproduce, distribute, sell, resell, publish, broadcast, retitle, store, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part), and exploit your Contributions (including, without limitation, your image, name, and voice) for any purpose, commercial, advertising, or otherwise, to prepare derivative works of, or incorporate into other works, your Contributions, and to sublicense the licenses granted in this section. Our use and distribution may occur in any media format and through any media channels.
This license includes our use of your name, company name, and franchise name, as applicable, and any of the trademarks, service marks, trade names, logos, and personal and commercial images you provide.
You are responsible for what you post or upload: By sending us Submissions and/or posting Contributions through any part of the Services or making Contributions accessible through the Services by linking your account through the Services to any of your social networking accounts, you:
• Confirm that you have read and agree with our "PROHIBITED ACTIVITIES" and will not post, send, publish, upload, or transmit through the Services any Submission nor post any Contribution that is illegal, harassing, hateful, harmful, defamatory, obscene, bullying, abusive, discriminatory, threatening to any person or group, sexually explicit, false, inaccurate, deceitful, or misleading.
• To the extent permissible by applicable law, waive any, and all moral rights to any such Submission and/or Contribution.
• Warrant that any such Submission and/or Contributions are original to you or that you have the necessary rights and licenses to submit such Submissions and/or Contributions and that you have full authority to grant us the above-mentioned rights in relation to your Submissions and/or Contributions.
• Warrant and represent that your Submissions and/or Contributions do not constitute confidential information.
You are solely responsible for your Submissions and/or Contributions, and you expressly agree to reimburse us for all losses that we may suffer because of your breach of (a) this section, (b) any third party's intellectual property rights, or (c) applicable law.
We may remove or edit your Content: Although we have no obligation to monitor any Contributions, we shall have the right to remove or edit any Contributions at any time without notice if in our reasonable opinion we consider such Contributions harmful or in breach of these Legal Terms. If we remove or edit any such Contributions, we may also suspend or disable your account and report you to the authorities.
3. USER REPRESENTATIONS
By using the Services, you represent and warrant that:
(1) all registration information you submit will be true, accurate, current, and complete;
(2) you will maintain the accuracy of such information and promptly update such registration information as necessary;
(3) you have the legal capacity and you agree to comply with these Legal Terms;
(4) you are not a minor in the jurisdiction in which you reside;
(5) you will not access the Services through automated or non-human means, whether through a bot, script or otherwise;
(6) you will not use the Services for any illegal or unauthorized purpose;
(7) If you are a company, you are duly authorized to place any Transaction or instruction;
(8) you are taking each Transaction on your own behalf and not as a third-party representative;
(9) your use of the Services will not violate any applicable law or regulation;
(10) You fully understand and accept this Agreement, including the Contract Specifications and the Risk Warning. Any person authorized by you to trade or issue instructions on your behalf has read and understood this Agreement and the Risk Warnings;
(11) trading with GCC Brokers Limited is legal in your current jurisdiction, and you will not violate any relevant laws;
(12) you are taking each Transaction on your own behalf and not as a third-party representative;
(13) any person authorized by you to trade or issue instructions on your behalf has read and understood this Agreement and the Risk Warnings;
(14) you acknowledge that any losses incurred due to your breach of these warranties shall be your responsibility.
If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the Services (or any portion thereof).
4. USER REGISTRATION
You are required to register to use the Services by filling in an application form. You agree to keep your password confidential and will be responsible for all use of your account and password.
5. PROHIBITED ACTIVITIES
You may not access or use the Services for any purpose other than that for which we make the Services available. The Services may not be used in connection with any commercial endeavors except those that are specifically endorsed or approved by us.
As a user of the Services, you agree not to.
• Systematically retrieve data or other content from the Services to create or compile, directly or indirectly, a collection, compilation, database, or directory without written permission from us.
• Trick, defraud, or mislead us and other users, especially in any attempt to learn sensitive account information such as user passwords.
• Circumvent, disable, or otherwise interfere with security-related features of the Services, including features that prevent or restrict the use or copying of any Content or enforce limitations on the use of the Services and/or the Content contained therein.
• Disparage, tarnish, or otherwise harm, in our opinion, us and/or the Services
- Use any information obtained from the Services in order to harass, abuse, or harm another person.
• Make improper use of our support services or submit false reports of abuse or misconduct.
• Use the Services in a manner inconsistent with any applicable laws or regulations.
• Engage in unauthorized framing of or linking to the Services.
• Upload or transmit (or attempt to upload or to transmit) viruses, Trojan horses, or other material, including excessive use of capital letters and spamming (continuous posting of repetitive text), that interferes with any party's uninterrupted use and enjoyment of the Services or modifies, impairs, disrupts, alters, or interferes with the use, features, functions, operation, or maintenance of the Services.
• Engage in any automated use of the system, such as using scripts to send comments or messages, or using any data mining, robots, or similar data gathering and extraction tools.
• Delete the copyright or other proprietary rights notice from any Content.
• Attempt to impersonate another user or person or use the username of another user.
• Upload or transmit (or attempt to upload or to transmit) any material that acts as a passive or active information collection or transmission mechanism, including without limitation, clear graphics interchange formats ("gifs"), 1x1 pixels, web bugs, cookies, or other similar devices (sometimes referred to as "spyware" or "passive collection mechanisms" or "PCMs").
• Interfere with, disrupt, or create an undue burden on the Services or the networks or services connected to the Services.
• Harass, annoy, intimidate, or threaten any of our employees or agents engaged in providing any portion of the Services to you.
• Attempt to bypass any measures of the Services designed to prevent or restrict access to the Services, or any portion of the Services.
• Copy or adapt the Services' software, including but not limited to Flash, PHP, HTML, JavaScript, or other code.
• Except as permitted by applicable law, decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Services.
• Except as may be the result of standard search engine or Internet browser usage, use, launch, develop, or distribute any automated system, including without limitation, any spider, robot, cheat utility, scraper, or offline reader that accesses the Services, or use or launch any unauthorized script or other software.
• Use a buying agent or purchasing agent to make purchases on the Services.
• Make any unauthorized use of the Services, including collecting usernames and/or email addresses of users by electronic or other means for the purpose of sending unsolicited email, or creating user accounts by automated means or under false pretenses.
• Use the Services as part of any effort to compete with us or otherwise use the Services and/or the Content for any revenue-generating endeavor or commercial enterprise
• Fraudulent Activities: Engaging in any form of fraud, including but not limited to providing false or misleading information, impersonating another person or entity, or using the platform to conduct fraudulent transactions.
• Market Manipulation: Attempting to manipulate the market or influence the prices of financial instruments through deceitful or unfair practices.
• Unauthorized Access: Accessing or attempting to access the accounts, personal information, or trading data of other users without permission
• Illegal Activities: Conducting any illegal activities or transactions that violate local, national, or international laws.
• Engage in or facilitate money laundering, terrorism financing, or any activities that violate anti-money laundering (AML) and counter-terrorism financing (CTF) laws and regulations. This includes, but is not limited to, transferring funds or conducting transactions that support terrorist activities or organizations.
• Fail to report suspicious activities: You must report any suspicious transactions or activities that could be related to money laundering, terrorism financing, or other illegal activities in accordance with applicable laws and regulations.
• Conduct or facilitate transactions involving sanctioned individuals or entities: Engaging in any financial transactions with persons or organizations that are subject to economic sanctions or other restrictions imposed by local, national, or international authorities is strictly prohibited.
• Use the platform to transfer or receive funds for illegal purposes, including but not limited to the purchase or sale of illegal goods, services, or financing of illegal operations.
• Engage in structuring or smurfing: This refers to the practice of breaking down large transactions into smaller ones to evade reporting requirements under AML and CTF laws.
• Use false identities or provide inaccurate information to conceal the origin of funds or the identity of those involved in financial transactions on the platform.
• Attempt to hide or disguise the nature, location, source, ownership, or control of funds that are derived from illegal activities.
• Dissemination of Malicious Software: Uploading or distributing viruses, malware, or any other harmful software intended to damage or disrupt the services or the computer systems of GCC Brokers or its users.
6. USER GENERATED CONTRIBUTIONS
The Services may invite you to chat, contribute to, or participate in blogs, message boards, online forums, and other functionality, and may provide you with the opportunity to create, submit, post, display, transmit, perform, publish, distribute, or broadcast content and materials to us or on the Services, including but not limited to text, writings, video, audio, photographs, graphics, comments, suggestions, or personal information or other material (collectively, "Contributions"). Contributions may be viewable by other users of the Services and through third-party websites. As such, any Contributions you transmit may be treated as non-confidential and non-proprietary. When you create or make available any Contributions, you thereby represent and warrant that:
• The creation, distribution, transmission, public display, or performance, and the accessing, downloading, or copying of your Contributions do not and will not infringe the proprietary rights, including but not limited to the copyright, patent, trademark, trade secret, or moral rights of any third party.
• You are the creator and owner of or have the necessary licenses, rights, consents, releases, and permissions to use and to authorize us, the Services and other users of the Services to use your Contributions in any manner contemplated by the Services and these Legal Terms.
• You have the written consent, release, and/or permission of each and every identifiable individual person in your Contributions to use the name or likeness of each and every such identifiable individual person to enable inclusion and use of your Contributions in any manner contemplated by the Services and these Legal Terms.
• Your Contributions are not false, inaccurate, or misleading.
• Your Contributions are not unsolicited or unauthorized advertising, promotional materials, pyramid schemes, chain letters, spam, mass mailings. or other forms of solicitation
• Your Contributions are not obscene, lewd, lascivious, filthy, violent, harassing, libelous, slanderous, or otherwise objectionable (as determined by us.
• Your Contributions do not ridicule, mock, disparage, intimidate, or abuse anyone
• Your Contributions are not used to harass or threaten (in the legal sense of those terms) any other person and to promote violence against a specific person or class of people
• Your Contributions do not violate any applicable law. regulation, or rule.
• Your Contributions do not violate the privacy or publicity rights of any third party.
• Your Contributions do not violate any applicable law concerning child pornography, or otherwise intended to protect the health or well-being of minors.
• Your Contributions do not include any offensive comments that are connected to race, national origin, gender, sexual preference, or physical handicap.
• Your Contributions do not otherwise violate, or link to material that violates, any provision of these Legal Terms, or any applicable law or regulation.
Any use of the Services in violation of the foregoing violates these Legal Terms and may result in, among other things, termination or suspension of your right to use the Services.
7. CONTRIBUTION LICENSE
By posting your Contributions to any part of the Services, you automatically grant, and you represent and warrant that you have the right to grant, to us an unrestricted, unlimited, irrevocable, perpetual, non-exclusive, transferable, royalty-free, fully paid, worldwide right, and license to host, use, copy, reproduce, disclose, sell, resell, publish, broadcast, retitle, archive, store, cache, publicly perform, publicly display, reformat, translate, transmit, excerpt (in whole or in part), and distribute such Contributions (including, without limitation, your image and voice) for any purpose, commercial, advertising, or otherwise, and to prepare derivative works of, or incorporate into other works, such Contributions, and grant and authorize sublicenses of the foregoing. The use and distribution may occur in any media formats and through any media channels.
This license will apply to any form, media, or technology now known or hereafter developed, and includes our use of your name, company name, and franchise name, as applicable, and any of the trademarks, service marks, trade names, logos, and personal and commercial images you provide. You waive all moral rights in your Contributions, and you warrant that moral rights have not otherwise been asserted in your Contributions.
We do not assert any ownership over your Contributions. You retain full ownership of all of your Contributions and any intellectual property rights, or other proprietary rights associated with your Contributions. We are not liable for any statements or representations in your Contributions provided by you in any area of the Services. You are solely responsible for your Contributions to the Services, and you expressly agree to exonerate us from any and all responsibility and to refrain from any legal action against us regarding your Contributions.
We have the right, in our sole and absolute discretion, (1) to edit, redact, or otherwise change any Contributions; (2) to re-categorize any Contributions to place them in more appropriate locations on the Services; and (3) to pre-screen or delete any Contributions at any time and for any reason, without notice. We have no obligation to monitor your Contributions.
8. YOUR ACCOUNT AND TRANSACTIONS
Account Opening
Before engaging in any Transactions, you must open an account with GCC Brokers Limited. To do so, you need to complete and submit an Application Form either electronically through our website or by using the printable form provided with these Terms and Conditions. All mandatory sections of the Application Form must be filled out accurately. Any incorrect or unclear information may lead to the rejection of your application or delay in the account opening process.
By signing or electronically submitting the Application Form, you authorize GCC Brokers Limited to conduct necessary searches to verify the accuracy of the information you have provided. Such searches may include information from the electoral register and credit agencies.
It is your responsibility to promptly inform GCC Brokers Limited in writing of any material changes to your financial circumstances or any changes to the information provided on your Application Form, such as changes in employment, address, contact details, or email. In its absolute discretion, GCC Brokers Limited may accept such notifications over the telephone or by email. You acknowledge that any losses resulting from misdirection of contract details due to incorrect or outdated email addresses supplied by you are entirely your responsibility.
GCC Brokers Limited reserves the right to refuse any application to open an account without providing reasons for the decision.
Account Closure or Suspension
GCC Brokers Limited reserves the right to close or suspend your account at any time, providing a written notice of 5 working days in advance. In such cases, all open positions will be closed at GCC Brokers Limited's current quoted price, and no new trades will be accepted. Any positions held in markets that are not quoted (closed for that day) will be closed at the first available price on the next business day or, in the case of a suspended market, closed under the terms outlined herein.
Disclosure of Information
GCC Brokers Limited may disclose information concerning you or your account to competent authorities with jurisdiction over GCC Brokers Limited's business or any other person in good faith seeking a reference or credit reference. This includes disclosing such information to similar companies making inquiries about any bad debt or liability.
You are responsible for informing GCC Brokers Limited whether information regarding your account transactions should be reported to your employer, including its compliance officer. You must also specify whether contract notes and account statements should be sent to that compliance officer, or any other person authorized by your employer to receive such information.
9. SERVICES MANAGEMENT
Types of Transactions
Subject to your compliance with this Agreement, we may enter contracts with you for the following types of Transactions:
a. Forward Contracts for Differences CFDs) on single securities, baskets of securities, stock or other indices, base and precious metals, commodities, and currencies (foreign exchange).
b. Any other investments that we may agree to offer in writing or online from time to time.
Execution-Only Basis
Our services will always be provided on an execution-only basis. We will not provide you with any advice on the merits or suitability of entering into this Agreement or any Transaction covered by it. While we may offer generic or factual information on the nature, terminology, and procedures involved in such Transactions or provide factual financial data information, you should rely on your own judgment when deciding whether to enter into any Transaction under this Agreement.
Order Execution Policy
When we execute an order on your behalf, we will generally follow our Order Execution Policy. A summary of our current Order Execution Policy has been provided to you.
Contract Specifications
We provide Contract Specifications that explain various matters related to this Agreement and the services we offer. Before entering into any Transaction, you must thoroughly read the Contract Specifications. If there is any aspect you do not fully understand, seek clarification from us before proceeding with the Transaction.
Quoting Hours and Transaction Sizes
Transactions with GCC Brokers Limited can only be made during our QuotingHours for the specific market and within the permissible Size(s) as detailed in the Contract Specifications, unless otherwise agreed. The minimum and maximum transaction limits are set by us based on normal market sizes with live price information. Current minimum and maximum limits are available upon request and are also detailed in the Contract Specifications. We reserve the right to change these limits, and it is your responsibility to be aware of the current limits before entering any Transaction. We may also waive Transaction Size limits with or without prior notice to you.
Margined Transactions
Our activities under this Agreement may involve margined transactions, as further explained in Clauses 7 and 8 below.
Compliance with Applicable Laws
We reserve the right to take any action necessary in our absolute discretion to ensure compliance with Applicable Laws while providing our services. You agree to strictly comply with all Applicable Laws, and failure to do so may result in termination of this Agreement. Compliance with market abuse regulations, such as insider trading and directors trading in shares of their own companies, is particularly emphasized.
Interruption of Services
GCC Brokers Limited will not be liable for any losses incurred due to any interruption of power supply, electronic communication, information system, or any event preventing us from providing information in the markets we usually quote.
System Maintenance and Technical Issues
The client acknowledges that GCC Brokers Limited and related systems may undergo maintenance, updates, or technical failures, including system shutdowns, restarts, or refreshes, to ensure effective operation. During system maintenance or updates, the trading platform or related systems may be inaccessible for a certain period. Additionally, mechanical, chart, software, misquote, computer, telecommunications, and/or electronic system failures or issues may occur. In the event of such system issues or failures, GCC Brokers Limited assumes no responsibility for any losses, including financial loss, caused by any of the actions referred to in this section.
Placing Trades
• Acceptance of Trade Requests
GCC Brokers Limited is not obligated to accept any trade request. Transactions with GCC Brokers Limited can only be made through an OTP or DTP. The platforms have minimum computer software requirements, and clients are encouraged to download and install updates promptly to ensure efficient platform functionality.
• Two-Way Price and Spread
GCC Brokers Limited quotes a two-way price involving a spread between the buy and sell price. As a client, you may choose to buy at the higher price or sell at the lower price.
• Providing Account Information
When placing a Transaction, you must provide your name and account number or username. Without this information, no Transaction will be permitted, even if it is to close an existing open position. For telephone transactions, the Transaction will only be accepted when GCC Brokers Limited confirms its acceptance. Verbal acceptance of a trade by GCC Brokers Limited does not negate either party's rights in the event of a Pricing Error.
• Recording of Conversations
All calls to GCC Brokers Limited telephone lines are recorded, and clients agree to the recording of such conversations. OTPs and DTPs retain histories of all Transactions conducted over that medium, including those entered by GCC Brokers Limited following telephone instructions. These records and recordings may be used as evidence in any dispute.
• Transaction Confirmation
Transactions placed via an OTP will be confirmed through an email contract note, while DTP transactions will be confirmed via an on-screen contract note. The contract is binding on both parties unless there is a Pricing Error. GCC Brokers Limited treats Transactions placed via an OTP or DTP as active upon receipt of instruction and acceptance. Transactions are typically confirmed at the time they are made by electronic means.
• Username, Password, and Account Security
Your username, password, and account number are sensitive information. Any Transactions made on your account using this information will be considered valid. Do not disclose your username, account number, or password to anyone, except for your account number to an Authorized Third Party as per Clause 15. You must immediately inform GCC Brokers Limited if you suspect a third party has accessed your account information or if someone other than you (or your Authorized Third Party) is transacting on your account.
• Compliance with Local Jurisdiction
For Transactions placed via an OTP or DTP, GCC Brokers Limited is not obligated to recognize the domain from which a client is trading. It is your sole responsibility to determine the legality of placing trades from your local jurisdiction.
• Validity of Quotes
A Transaction can only be placed on a valid Quote. Prices may change after being quoted but before you trade. A Quote given over the telephone is only valid for that conversation and may not be available in subsequent calls. Quotes given as "indication only" are not valid and cannot be traded unless otherwise agreed. Quotes qualified as no longer valid before placing a Transaction are also not tradable.
• GCC Brokers Limited's Discretion and Responsibilities
GCC Brokers Limited may, at its absolute discretion, reject or accept your proposed Transaction made via an OTP or DTP, as the prices quoted are indicative. Due to the nature of online trading systems and potential market price feed delays or misquotes, GCC Brokers Limited may remove or delete Transactions that do not reflect actual market prices at the time of placement. GCC Brokers Limited will not be responsible for losses incurred on rejected or canceled Transactions and is not liable for losses made with other companies due to reference to a rejected or canceled trade.
• Extreme Price Volatility and Trade Cancellation
During times of extreme price volatility due to economic or political events, online price providers may slow down service to customers, leading to delays in trade execution. GCC Brokers Limited primarily relies on automated systems to execute trades and maintain fixed spreads. However, during such volatile times, GCC Brokers Limited reserves the right to cancel any trade confirmed by the automated system if it does not reflect the actual market price or has been delayed due to latency issues. This is to prevent misuse of the automated system or fixed spread.
• No Scalping Allowed
GCC Brokers Limited does not permit scalping or sniping, where clients attempt to exploit the automated services for short-term gains. Clients are urged to trade ethically and not abuse the competitive services provided. Clients will be held solely liable and must indemnify GCC Brokers Limited from any damages or losses resulting from canceling such trades. Scalping or sniping is not allowed.
Trading
• Trading on Price Outcome
Clients should be aware that they are trading based on the price outcome of a financial derivative and will not have rights to delivery or be required to deliver the underlying product.
• Off-Exchange Trading
The trading with GCC Brokers Limited occurs off-exchange or over-the-counter OTC . This means that GCC Brokers Limited directly enters into contracts with clients in respect of the financial instruments they wish to trade.
• Islamic/SWAP Free Accounts
GCC Brokers Limited reserves the right to discontinue an Islamic/SWAP-free account by providing 24 hours' notice. This right may be invoked if there is suspicion of abuse. In such cases, GCC Brokers Limited may, at its sole discretion, close all open positions in the account and add or deduct swaps for all transactions previously made in the account. GCC Brokers Limited may also decline any further requests from the client to be exempted from SWAP.
• Adjustments for Constituent Securities
The provisions mentioned above also apply to any constituent security of a securities basket or securities index and may be adjusted proportionately based on the respective weighting of the affected security within the securities basket or securities index.
• Special Situations for Share Trading
In certain circumstances, such as a share becoming subject to a takeover offer, suspension, merger, or stock split, GCC Brokers Limited reserves the right to close any or all trades at the closing price of the day or the last closing trading price before the amendment.
• Partial Closures and Illiquid Markets
In some market conditions, it may not be possible to close a single share Transaction fully at one price. In such cases, the Transaction may be closed at a price reflecting the price at which GCC Brokers Limited can transact any relevant underlying hedge during the trading hours of the Underlying Market. If the Underlying Market for an existing open Position becomes illiquid, leaving GCC Brokers Limited unable to purchase or borrow sufficient underlying shares or contracts, GCC Brokers Limited reserves the right to close all or part of the Transaction at the current GCC Brokers Limited Quote.
• Dividends, News Announcements, and Equity/Margin Levels
If a share or Underlying Market is subject to dividends or fundamental news announcements, and a client has an existing open position in the same shares, GCC Brokers Limited may close partial or all positions to bring the equity/margin level above 200%.
• Trading in Concert
If multiple clients are placing identical trades in concert, GCC Brokers Limited may, at its sole discretion, treat this as one Trade. In such cases, if the combined size exceeds the market liquidity and slippage occurs, all clients may be treated the same, regardless of their individual stake size, and filled at the same level where GCC Brokers Limited was realistically able to trade in the Underlying Market.
Open Positions
• Closing Positions
Positions may be closed at any time within GCC Brokers Limited's Quoting Hours, except when the relevant market is suspended or unavailable for any reason. GCC Brokers Limited may consider accepting closure of Positions at other times based on market conditions, but it is not obligated to do so.
• Closing Prior to Expiry Date
You are not required to close a Position before the Expiry Date, as long as your account is not in deficit. However, in certain circumstances and in accordance with these Terms and Conditions, GCC Brokers Limited may have the right or may be required to close your Position before the Expiry Date, even if your account is not in deficit.
• Expiry Date on Non-Business Days
If the Expiry Date of a Transaction falls on a day that is not a recognized business day of the relevant Underlying Market, then the business day immediately preceding the stated Expiry Date will be considered the Expiry Date, unless an alternative is specifically stated in the Contract Specifications or notified otherwise by GCC Brokers Limited.
• Automatic Closure at Expiry Date
Open Positions will automatically close on their Expiry Date and at the specified expiry time, as detailed in the Contract Specifications, at the GCC Brokers Limited closing price on that day. Customers with existing futures open interest are advised to take notice of the market information sheet and act accordingly.
New, Stop Loss, and Limit Orders
• New Orders
New Orders are orders that are not linked to an existing open Position (although they may close existing Positions if, when executed, they create trades that are opposite to existing open Positions). GCC Brokers Limited accepts the following types of new orders:
▪ Good Till Canceled (GTC)
The order will remain in effect until it is cancelled by you or until the market expires and GCC Brokers Limited ceases to quote the relevant market.
▪ Good For Day (GFD)
The order will remain in effect until the end of GCC Brokers Limited's Quoting Hours for the relevant market for that day.
▪ Good Until (GUT)
The order will remain in effect until the time and date specified by you when placing the order or until GCC Brokers Limited stops quoting the relevant market, whichever comes first.
All Good till Canceled, Good for Day, and Good Until orders are based on the GCC Brokers Limited Quote/Our Quote.
• Execution During Trading Hours
A Good till Canceled order will only be valid during GCC Brokers Limited's Quoting Hours for the relevant market. In case of any gap between the close of the market as quoted by GCC Brokers Limited on one trading session and its subsequent reopening either on the next session or due to a Force Majeure, the Client's Stop will be executed at the GCC Brokers Limited Quote based on the first price that GCC Brokers Limited can reasonably obtain in the Underlying Market.
• Stop Loss Orders for Open Positions
Stop Loss orders placed on open Positions will be considered Good Until Canceled or until the contract expires, or until you close the relevant Position. These orders will be in respect of the GCC Brokers Limited Quote/Our Quote and valid only for the specific market accepted by GCC Brokers Limited.
• Outside Trading Hours
Orders placed in markets quoted by GCC Brokers Limited outside the trading hours of the relevant Underlying Market are based on GCC Brokers Limited's Quote/Our Quote. These orders may be filled at the GCC Brokers Limited Quote based on a price that GCC Brokers Limited considers fair and reasonable in light of prevailing world markets at that time.
• Trading Hours and Order Execution
GCC Brokers Limited will accept orders placed in any market during the hours it offers a Quote in that market. However, no Stops or other orders of any kind will be executed outside of GCC Brokers Limited's quoting hours for that market, except by agreement with GCC Brokers Limited. Upon the opening of any market quoted by GCC Brokers Limited, any currently actionable Stop, Limit, or New Order will be filled at the first Quote for the relevant market that GCC Brokers Limited can reasonably obtain with reference to the Underlying Market and the size of the order.
• Canceling Orders
It is your responsibility to cancel any order that you no longer require. Any uncancelled order placed by you may be filled by GCC Brokers Limited and may cause losses for which you will be liable. In the case of Stop Loss orders, if the related Transaction is closed by you, the Stop Loss order will be automatically canceled. If the underlying Stop Loss on any open Position was actionable before you closed the open Position, GCC Brokers Limited may, at its sole discretion, adjust the closing price of your trade to reflect the Stop Loss price.
• Execution of Orders
An order will be executed when the GCC Brokers Limited Quote reaches the price specified in your order or trades through the price specified. All Quotes are based on an Underlying Market sourced from either a recognized global exchange or from a wholesale counterparty. GCC Brokers Limited's Quote may be higher or lower than the Underlying Market due to interest rate costs, dividends, scrip issues, stock splits, competitors' quotes, or the weight of client business. It is crucial to understand the definition of Our Quote for the correct operation of your account, and if there is any confusion, it is recommended to contact GCC Brokers Limited for clarification.
• Notification of Filled Orders
GCC Brokers Limited is not obliged to inform you if an order is filled. It is solely your responsibility to ensure that you know at all times whether any order has been filled or is still active. If you are unsure about the validity of any Transaction, it is your sole responsibility to contact GCC Brokers Limited immediately, preferably by telephone, to obtain clarification.
• Amending Orders
Once a Stop, Limit, or New Order level is reached, GCC Brokers Limited may, at its sole discretion, allow you to amend this order before it has been executed. While receipt of any confirmation of an order amendment is not binding on GCC Brokers Limited, the company may decide, at its sole discretion, to execute the original order if the activation of that order occurred before the amendment was made. GCC Brokers Limited shall not be liable for any Positions generated by clients' assumption of non-activation of a fairly executed order.
• Non-Guaranteed Orders
Unless otherwise stipulated, no orders are guaranteed and are subject to Gapping.
• Gapping and Losses
If a New Order is subject to Gapping on activation and the order is executed at a price that would also have activated any associated Limit or Stop orders, then the Position will be immediately closed with a loss to the client equal to the prevailing GCC Brokers Limited quoted spread for that market.
• Definition of Gapping
"Gapping" refers to an occurrence where the market moves from one quoted price to another, and the second quote is significantly different from the first. This may trigger a Gapping event, and there are various reasons why this might happen.
• Order Execution During Slippage
All orders Stop, Limit, or New Order are subject to slippage on the market open. If slippage occurs during trading hours, any buy order (new or limit) below the market or sell order (new or limit) above the market, and sell orders (closing or stop) below the market or buy orders (closing or stop) above the market, may be subject to slippage. Additionally, if any market gaps from one quoted price to another due to any market-sensitive information, such as a profit warning or an economic data release, then any order placed between these prices will be activated.
• Order Filling and Gapping
Where a series of orders may be filled to close existing open Positions and/or open new Positions, GCC Brokers Limited will fill orders at its sole discretion, and the sequence in which they are seen by GCC Brokers Limited will determine the filling. If this results in subsequent orders having insufficient Trading Resources for activation, then these orders will be canceled. GCC Brokers Limited will not prioritize order filling sequences that may result in one order being filled and another failing, and it will fill orders as and when they are seen by GCC Brokers Limited and at the company's sole discretion.
Margin Calculations
• Deposit Accounts and Margin Requirement
GCC Brokers Limited generally only allows clients to trade on Deposit Accounts, where money must be deposited before trading can commence. You agree to provide and maintain on your account at all times sufficient Margin to cover the Margin Requirement for each Transaction entered into by you.
• Alteration of Margin Requirements
GCC Brokers Limited may, at its sole discretion, alter the Margin Requirements on your account. The company will normally monitor the amount of Margin available for any Transaction but reserves the right to demand further Margin than originally requested. During high market volatility, depending on the weight of customer business, trading style, important fundamental releases, or general increase of margin for an instrument on the exchange, or at the closing of the week, GCC Brokers Limited reserves the right to increase the margin requirement by reducing the leverage offered and/or increasing the stop out level (equity/margin) up to 100%, and will provide written notice to the clients in such cases. If the stop out level falls below 100%, GCC Brokers Limited will hedge the positions or partially close them to bring the equity/margin back above 100%, and customers will be liable for any damages or losses that may result from the position closures.
• Closing of Positions due to Stop Out Level
GCC Brokers Limited maintains the right to close any client position/positions when the stop out level (equity/margin) falls to 0% of the total margin requirement or the level agreed with the client. If the balance or equity becomes negative as a result of the stop out, GCC Brokers Limited reserves the right to claim the balance from the client to adjust the equity back to zero. As stated in clause 8.2, GCC Brokers Limited reserves the right to increase the stop out level by giving written notice to the client.
• Stop Loss Orders and Margin Requirement
An order placed as a Stop Loss for a position may not necessarily reduce the Margin Requirement.
• Recognized Maximum Single Size
GCC Brokers Limited, in its absolute discretion, may permit any trade for a Size that is above the recognized maximum single Size for a particular market.
• Changes in Minimum IMR and Stop Out Level
GCC Brokers Limited may change the minimum Initial Margin Requirement IMR for any market and stop out level from time to time without prior notice to you. These new margin requirements and stop out levels will be applied to all your existing Positions as well as any new Transactions. The Contract Specifications set out the minimum IMR for most contracts at the time of publication. Margin Requirements not listed in the Contract Specifications or that have changed since the date of publication will be provided upon request or posted on the website. It is your responsibility to ensure that you are using the most recent applicable margin requirements.
• New or Temporary Markets
Occasionally, new or temporary markets are created, and they may have specific margin requirements that may not be published but will be available upon request.
• Meeting Margin Obligations
You undertake to provide and maintain on your account at all times sufficient cleared funds to meet the margin requirement for your Transactions. Failure to meet your margin obligations at any time is considered a Default Event, and GCC Brokers Limited may close out your open Positions without notice.
• Total Financial Liability
Neither the funds on your account nor the margin applied to your Position(s) represent your total financial liability to GCC Brokers Limited.
• Margin Requirements and Dividends
GCC Brokers Limited reserves the right to increase margin requirements prior to the release of a dividend. If you hold long positions on the ex-dividend date, you will receive a dividend in the form of a cash adjustment (deposit). If you hold a short position on the ex-dividend date, you will be charged the dividend amount in the form of a cash adjustment (withdrawal).
Margin Calls
It is your responsibility to monitor your open Positions and all other relevant factors used to calculate the Margin payable for your trades. GCC Brokers Limited is not obliged to make Margin Calls on your behalf or within any specific time period.
The company shall not be liable to you for any failure to contact you or attempt to contact you regarding Margin requirements or changes in Margin. It is crucial that you stay informed about your account's Margin status and ensure that you have sufficient funds to cover the required Margin at all times to avoid any potential liquidation of your Positions due to Margin deficiencies.
Fees and Payments
• Payment Obligations
In addition to Margin payments, clients are obligated to pay GCC Brokers Limited for Transactions or Positions, including any charges and commissions specified in the Contract Specifications.
Clients may also be required to pay sums to clear any debit balance on their accounts.
• Taxes and Other Fees
Clients are responsible for paying all applicable taxes, including Value Added Tax
VAT , and other fees incurred by GCC Brokers Limited in connection with any Transaction.
Any future changes to tax laws that impose stamp duty, capital gains tax, or other taxes on Transactions will be borne by the client.
Clients may be liable for other charges and taxes not imposed by GCC Brokers Limited, and it is their responsibility to ensure timely payment of such charges and taxes.
Independent advice is recommended if clients are uncertain about additional charges or taxes that may apply due to their Agreement with GCC Brokers Limited.
• Charges Imposed by Payment Providers
If credit or debit card companies or other payment providers impose charges on deposits to the client's account, these charges may be passed on to the client by GCC Brokers Limited.
GCC Brokers Limited will not be held responsible for non-payment of these charges and will not be liable for any proceedings or further charges resulting from such non-payment.
• Commission and Charges Sharing
GCC Brokers Limited may share commission and charges with Associated Companies, Trading Partners, or other third parties in respect of Transactions entered into with clients.
Details of such remuneration or sharing arrangements will not be provided in the contract note.
Commissions and charges will be paid only when GCC Brokers Limited is satisfied that such payments do not compromise its obligation to act in the best interests of its clients.
Transaction Specifications
• Contract Specifications
▪ The Contract Specifications contain essential information for each market offered by GCC Brokers Limited.
▪ Clients are strongly advised to thoroughly understand the Contract Specifications for the markets they intend to trade in.
• Information Provided in Contract Specifications
The Contract Specifications cover details such as:
▪ Contract months available in each market,
▪ GCC Brokers Limited's buy/sell spread and/or commission rate,
▪ Minimum Initial Margin Requirement (IMR) for each market,
▪ Basis of settlement,
▪ Last day of dealing,
▪ Transaction Size specifications,
▪ GCC Brokers Limited quoting hours,
▪ Applicable interest rate for Overnight Financing, and
▪ Other relevant information for various markets.
• Accuracy and Amendments
▪ GCC Brokers Limited has made efforts to ensure the accuracy of the Contract Specifications. However, it reserves the right to amend any part of the Contract Specifications at any time.
▪ Clients should stay updated with any changes to the Contract Specifications.
• Quoted Spreads and Commission Rates
▪ Current spreads and/or commission rates on contracts will be quoted upon request.
▪ GCC Brokers Limited has the right to change spreads, commission rates, or Size specifications without prior notice, especially in volatile market conditions or when the Underlying Market experiences illiquidity.
▪ Telephone-quoted spreads may differ from those available on an OTP or a DTP at the discretion of GCC Brokers Limited.
Expiry of Future Contracts
• Rollover Policy
▪ GCC Brokers Limited does not roll-over dated OTC Future contracts.
▪ All positions that are still open at the expiration date will be automatically closed at the GCC Brokers Limited closing price on that day.
• Next Month Contracts Availability
▪ Next month contracts will be made available for trading at least four days before the front month's expiration.
▪ Clients are advised to monitor expirations and be proactive in managing their positions accordingly.
• Client Responsibility
▪ It is the sole responsibility of the client to stay informed about contract expirations and to take appropriate action before the expiration date to avoid automatic closure of positions.
▪ Clients should be aware of the availability of next month contracts and plan their trading strategies accordingly to avoid disruptions caused by contract expirations.
Account Settlement and Set-Off
• Debit Account Balance
▪ If your account has a debit balance, the full amount of that balance is due immediately.
▪ Payment must be made in the currency in which the debit balance is denominated, or as agreed with GCC Brokers Limited at an exchange rate designated by GCC Brokers Limited.
• Payment Methods
▪ GCC Brokers Limited requires immediate payment of any debit account balance by SWIFT transfer, debit/credit card, or any other method of immediate electronic funds transfer acceptable to GCC Brokers Limited.
▪ Payment must be delivered to GCC Brokers Limited bank accounts by 2:00 pm on the same business day that the debit account balance became due.
▪ GCC Brokers Limited has the right to refuse payment by cheque without notice and without giving any reason.
• Interest on Late Payments
▪ GCC Brokers Limited is entitled to charge interest on all sums payable that are not paid within 5 days of their due date.
▪ The interest rate charged by GCC Brokers Limited for late payments is 2% per calendar month or part thereof cumulative of the sum owed to GCC Brokers Limited.
• Cost Recovery
▪ You are responsible for reimbursing GCC Brokers Limited for any costs or expenses incurred in recovering any outstanding debts.
▪ All debts to GCC Brokers Limited are recoverable by law. The company will actively pursue any sum that is due.
▪ GCC Brokers Limited has the right to debit any costs, interest, or expenses incurred in recovering debts from your account or any other account in which you hold an interest.
• Unrealized Profits and Losses
▪ Unrealized profits are not available for electronic withdrawal and cannot be used to offset your obligation to pay realized losses.
• Holding of Funds
▪ GCC Brokers Limited is entitled to hold funds in your account to cover adverse cash positions, Margin Requirements, uncleared funds, realized losses, and any other amounts due under the Agreement.
• Set-Off of Liabilities
▪ GCC Brokers Limited may set off any liabilities it owes you against any amount you owe to GCC Brokers Limited.
▪ GCC Brokers Limited has the right to consolidate any or all of your accounts, or accounts in which you have a part or management function, without notice and at its absolute discretion.
• Settlement of Open Positions
▪ GCC Brokers Limited may require the settlement of all open positions at any time and with immediate effect.
▪ Settlement will be made at the prevailing GCC Brokers Limited Quote (Our Quote) for each trade at the time of settlement or as soon as practicably possible.
• Deduction of Erroneous Deposits
▪ GCC Brokers Limited is entitled to deduct, without notice or recourse to you, any funds deposited or credited to your account in error by GCC Brokers Limited or on its behalf.
Conflict of Interests
• Recognition of Conflict of Interests
▪ GCC Brokers Limited acknowledges the possibility that its directors, employees, associates, consultants, or any other individuals related to GCC Brokers Limited may have interests, financial or otherwise, that could conflict with the best interests of clients.
• Risk Mitigation Measures
▪ GCC Brokers Limited has implemented systems and procedures to identify and manage material conflicts of interest to prevent and minimize the risk of such conflicts negatively impacting clients.
• Access to Conflicts of Interest Policy
▪ Clients who wish to have further information about GCC Brokers Limited's Conflicts of Interest Policy or have concerns about specific conflicts of interest that may affect them can contact GCC Brokers Limited for more information.
Authorized Third Party
• Appointment of Authorized Third Party
▪ We understand that there may be situations where you find it necessary or beneficial to authorize someone to manage your account with GCC Brokers Limited. Should you choose to do so, both you and the person you wish to authorize (referred to as an "Authorized Third Party") will need to execute and provide GCC Brokers Limited with a letter in the form of a signed Power of Attorney document, granting the necessary authorization for the Authorized Third Party to operate your account.
• Signature Verification Requirement
▪ If you have opened an account electronically and we do not possess an original copy of your signature, the appointment of an Authorized Third Party will be deferred until you furnish us with an independently verified example of your signature. This may include providing a photocopy of your passport or driver's license as proof of your signature.
• Client Responsibility for Authorized Third Party Actions
▪ It is essential to emphasize that you will bear full responsibility for all actions undertaken by the Authorized Third Party on your behalf. GCC Brokers Limited will duly acknowledge and accept instructions from the Authorized Third Party until we receive a written notice from you, specifically revoking the authority granted to the Authorized Third Party. To ensure the validity of this revocation, the written notice must be sent to our Client Services department through registered mail or delivered in person and countersigned by an officer of GCC Brokers Limited. Upon receiving this instruction, we will promptly change your account number and any associated passwords.
• GCC Brokers Limited's Right to Refuse Instructions
▪ It is within the prerogative of GCC Brokers Limited, without prior notice to you, to decline accepting instructions from any Authorized Third Party and to consider the appointment of such Authorized Third Party as terminated. We reserve this right to safeguard your interests and maintain the security of your account.
Termination
• You have the right to terminate this Agreement at any time by giving written or verbal notice to us.
• To close your account, you can contact us via email, writing, or telephone to instruct us accordingly.
• We will only close your account if you have no outstanding monies owed to us, and any open positions shall be closed.
• Any losses incurred on your account before closure shall be immediately payable by you.
• GCC Brokers Limited may close or suspend your account with immediate effect under the following circumstances:
▪ Breach of this Agreement (the Terms and Conditions) by you.
▪ Making any material misrepresentation to GCC Brokers Limited.
▪ Failure to provide requested information for verification purposes.
▪ Acting in a rude or abusive manner towards GCC Brokers Limited employees.
▪ GCC Brokers Limited exercising its sole discretion to terminate your account.
• Upon termination by either party, all open positions shall be immediately closed based on the current quote provided by GCC Brokers Limited.
• If any market is closed for any reason, the closure will occur at the next available quote reasonably provided by GCC Brokers Limited upon the market's reopening.
• No new trades will be accepted by GCC Brokers Limited after termination.
• Termination of this Agreement will not entail any penalty for either party, and accrued rights will remain unaffected.
• We may consolidate any or all of your accounts and deduct any amounts owed to us before transferring any credit balances to you.
Insolvency or Default Event
• In the event of an Insolvency Event or Default Event, GCC Brokers Limited may (but is not obligated to) take the following actions:
▪ Close (partially or entirely) all open positions held by you, with immediate settlement of profits or losses from such trades.
▪ Close all of your accounts and refuse to accept any new instructions or trades from you.
▪ Implement stop orders on all open positions.
▪ Take any reasonable action to safeguard the interests of GCC Brokers Limited, as solely determined by GCC Brokers Limited.
Client Funds
• GCC Brokers Limited will hold funds received from you or on your behalf in segregated bank accounts known as Client accounts.
• All Client funds will be held in bank accounts designated for client funds.
• GCC Brokers Limited does not pay interest on client funds held.
• If there has been no account balance movement for at least six years, and reasonable attempts to trace you are unsuccessful, GCC Brokers Limited may cease to treat your money as client funds.
▪ Records of released balances will be retained, and GCC Brokers Limited will undertake to satisfy any valid future claims against those balances when applicable.
• You are not allowed to assign any portion of your profits or losses to third parties, and third parties may not deposit or withdraw funds from your account.
• Withdrawals from your account must be paid directly to you through SWIFT transfer or debit/credit card payments.
• In compliance with fraud prevention and money laundering regulations, GCC Brokers Limited will refund funds back to the original source of deposit.
▪ If funds were deposited by card, refunds will be returned to the same card where possible. If not possible, GCC Brokers Limited may request original bank statements showing the original fund transfer to process the refund to the respective bank account.
▪ If funds were deposited by bank transfer, GCC Brokers Limited may require sight of the original bank statement confirming the deposit before any refund is made.
▪ In cases where bank accounts have been closed, GCC Brokers Limited may request a letter from the originating bank stating the account's closure and no outstanding funds owed to the bank.
▪ GCC Brokers Limited may also require sight of the original deposit transfer statement from the closed account and the new bank account statement before refunding to a new bank account.
▪ In cases of discrepancies between card details and GCC Brokers Limited's account details as provided by you, GCC Brokers Limited may require original bank statements or relevant evidence to confirm your new status before processing a refund.
10. DEPOSITS, WITHDRAWALS, AND REFUND
Deposit and Payment
• The Client may only deposit funds using the payment systems available in the "Deposit" section of GCC Brokers Limited's Client Portal.
• Payment for services is considered complete when all appropriate funds are credited to GCC Brokers Limited's account.
Responsibility for Delays
• GCC Brokers Limited holds no responsibility for the results of trading operations in the event of delays in depositing funds into the Client's account.
• The Client assumes full responsibility for any financial risks arising from such delays.
Cancellation of Deposit or Withdrawal
• GCC Brokers Limited may cancel the Client's deposit or withdrawal if the account is funded by a third party or if the Client attempts to withdraw funds on behalf of a third party.
• In such cases, the deposited funds will be transferred back to the same bank details from which they originated, and the Client will be charged all associated costs for the funds transfer.
Currency Exchange
• If the trading account is credited in a currency other than the one in which it is maintained, funds will be credited based on an internal exchange rate adopted by GCC Brokers Limited on the deposit date.
• Withdrawal requests will be processed using GCC Brokers Limited's internal currency rates on the date of withdrawal.
Withdrawal Process
• Withdrawals can be requested through the secure Client Portal, and an acknowledgment of the request will be sent to the registered email address.
• Withdrawals will be reviewed and processed by the accounts department.
• The Client is responsible for providing accurate information in the withdrawal application.
• GCC Brokers Limited will process withdrawals only to the respective nominated accounts, based on the deposit method.
• GCC Brokers Limited may refuse the Client's withdrawal request if different systems are used for withdrawals and deposits.
• The minimum withdrawal amount is $50 for bank transfers. For other methods, the minimum withdrawal amount is $1.
• If the deposit was made via a crypto wallet or e-wallet, the Client is responsible for ensuring the accuracy of the wallet address provided in the Client Portal. GCC Brokers Limited will refund the funds to this wallet address.
Withdrawal Charges
• GCC Brokers Limited will bear the fees for one withdrawal per calendar month if the Client has traded a minimum of 5 lots or if there is a remaining balance in their account.
• Charges will apply for the Client's second withdrawal per month or if the Client has not traded at all, depending on the payment method.
Account Closure and Refunds
• The Client can close their trading account at any time, subject to certain conditions.
• GCC Brokers Limited will approve the account closure if certain conditions are met, such as no active investments and no ongoing investigations associated with the Terms of Services.
• If the Client's account has been suspended due to a violation of the Terms of Services or any other form of abuse, earnings/profits will be annulled.
• Refund requests can be made if the account was deposited into, but no orders were executed by the Client.
• The same method of payment used for the deposit will be used for the refund.
• Refund requests are processed within one working day but may take up to three to five working days to reach the Client's account, and up to fifteen working days for transactions via credit/debit card.
Responsibility for Losses
• GCC Brokers Limited is not obligated to provide any refund in case the incurred loss was caused by any reason, whether foreseen or unforeseen.
11. SERVICE MONITORING AND ENFORCEMENT
We reserve the right, but not the obligation, to:
(1) monitor the Services for violations of these Legal Terms;
(2) take appropriate legal action against anyone who, in our sole discretion, violates the law or these Legal Terms, including without limitation, reporting such user to law enforcement authorities;
(3) in our sole discretion and without limitation, refuse, restrict access to, limit the availability of, or disable (to the extent technologically feasible) any of your Contributions or any portion thereof
(4) in our sole discretion and without limitation, notice, or liability, to remove from the Services or otherwise disable all files and content that are excessive in size or are in any way burdensome to our systems;
(5) otherwise manage the Services in a manner designed to protect our rights and property and to facilitate the proper functioning of the Services.
12. TERM AND TERMINATION
These Legal Terms shall remain in full force and effect while you use the Services. WITHOUT LIMITING ANY OTHER PROVISION OF THESE LEGAL TERMS, WE RESERVE THE RIGHT TO, IN OUR SOLE DISCRETION AND WITHOUT NOTICE OR LIABILITY, DENY ACCESS TO AND USE OF THE SERVICES (INGLUDING BLOCKING CERTAIN IP ADDRESSES), TO ANY PERSON FOR ANY REASON OR FOR NO REASON, INCLUDING WITHOUT LIMITATION FOR BREACH OF ANY REPRESENTATION, WARRANTY, OR COVENANT CONTAINED IN THESE LEGAL TERMS OR OF ANY APPLICABLE LAW OR REGULATION. WE MAY TERMINATE YOUR USE OR PARTICIPATION IN THE SERVICES OR DELETE YOUR ACCOUNT AND ANY CONTENT OR INFORMATION THAT YOU POSTED AT ANY TIME, WITHOUT WARNING, IN OUR SOLE DISCRETION.
If we terminate or suspend your account for any reason, you are prohibited from registering and creating a new account under your name, a fake or borrowed name, or the name of any third party, even if you may be acting on behalf of the third party. In addition to terminating or suspending your account, we reserve the right to take appropriate legal action, including without limitation pursuing civil, criminal, and injunctive redress.
13. MODIFICATIONS AND INTERRUPTIONS
We reserve the right to change, modify, or remove any features, tools, or content within our trading platform and related services at any time and for any reason, at our sole discretion, without prior notice. This includes, but is not limited to, changes in market data, trading instruments, account features, or platform functionality.
While we strive to provide accurate and up-to-date information, we have no obligation to update any data or content on our platform. We will not be liable to you or any third party for any modifications, changes, suspensions, or discontinuation of any part of the platform or services, including trading availability or market data feeds.
We cannot guarantee the Services will be available at all times. We may experience hardware, software, or other problems or need to perform maintenance related to the Services, resulting in interruptions, delays, or errors. We reserve the right to change, revise, update, suspend, discontinue, or otherwise modify the Services at any time or for any reason without notice to you. You agree that we have no liability whatsoever for any loss, damage, or inconvenience caused by your inability to access or use the Services during any downtime or discontinuance of the Services. Nothing in these Legal Terms will be construed to obligate us to maintain or support the Services, or to supply any corrections, updates, or releases in connection therewith.
14. COMPLAINT HANDLING PROCEDURE AND ARBITRATION
Filing a Complaint:
• Clients who wish to file a complaint should do so by raising a Ticket through the Client Portal or by sending a detailed description of the incident, along with the date it occurred and any supporting documentation, to support@gccbrokers.com.
• These are the exclusive channels through which complaints will be accepted and processed. There is no need to visit our offices or contact any employees directly.
Required Information:
A valid complaint should include the following details:
• The client's full name.
• The client's trading account number.
• The affected transaction numbers, if applicable.
• The date and time the issue arose.
• A detailed description of the issue.
• Any supporting evidence relevant to the complaint.
Note: Complaints must not contain offensive language directed at GCC Brokers or its employees.
Acknowledgment and Processing:
• Upon receiving a valid complaint, the Company will send a written acknowledgment email to the client within two (2) working days. This email will include a unique reference number (URN), which the client must use in all future communications regarding the complaint.
• The Company will investigate the complaint and aim to resolve it within a maximum period of one month from the date of receipt.
Extended Investigation:
• If the Company is unable to resolve the complaint within the initial one-month period, the client will be informed of the reasons for the delay and provided with an estimated timeline for resolution, with a maximum extension of an additional month.
Final Resolution:
• The Company will make every effort to resolve complaints in a fair, professional, and timely manner. If the client is dissatisfied with the Company’s final decision, they have the right to refer the complaint to the Mauritius Financial Services Commission no later than four months after the date that they were notified of our final decision, but not before the Company’s final decision.
Arbitration:
If a complaint cannot be resolved through the Company’s internal complaint handling procedure, and if the client does not wish to refer the matter to the relevant regulatory authority, the client agrees to resolve the dispute through binding arbitration.
Any dispute, controversy, or claim arising out of or in connection with these Legal Terms, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by arbitration administered by the Dubai International Arbitration Centre (DIAC) in Dubai, United Arab Emirates, in accordance with its rules. The seat of arbitration shall be Dubai, United Arab Emirates. The arbitration proceedings shall be conducted in English.
Restrictions
The Parties agree that any arbitration shall be limited to the Dispute between the Parties individually. To the full extent permitted by law, (a) no arbitration shall be joined with any other proceeding: (b) there is no right or authority for any Dispute to be arbitrated on a class-action basis or to utilize class action procedures; and (c) there is no right or authority for any Dispute to be brought in a purported representative capacity on behalf of the general public or any other persons.
Corrections:
There may be information on the Services that contains typographical errors, inaccuracies, or omissions, including descriptions, pricing, availability, and various other information. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update the information on the Services at any time, without prior notice.
15. DISCLAIMER
THE SERVICES PROVIDED BY GCC BROKERS ARE OFFERED ON AN "AS-IS" AND "AS-AVAILABLE" BASIS. YOU AGREE THAT YOUR USE OF THE SERVICES WILL BE AT YOUR SOLE RISK. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE SERVICES AND YOUR USE THEREOF, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE MAKE NO WARRANTIES OR REPRESENTATIONS ABOUT THE ACCURACY, RELIABILITY, OR COMPLETENESS OF THE SERVICES' CONTENT OR THE CONTENT OF ANY WEBSITES OR MOBILE APPLICATIONS LINKED TO THE SERVICES. WE ASSUME NO LIABILITY OR RESPONSIBILITY FOR ANY OF THE FOLLOWING:
(1) ERRORS, MISTAKES, OR INACCURACIES OF CONTENT AND MATERIALS;
(2) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY NATURE WHATSOEVER RESULTING FROM YOUR ACCESS TO AND USE OF THE SERVICES;
(3) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION AND/OR FINANCIAL INFORMATION STORED THEREIN;
(4) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM THE SERVICES;
(5) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE THAT MAY BE TRANSMITTED TO OR THROUGH THE SERVICES BY ANY THIRD PARTY;
(6) ANY ERRORS OR OMISSIONS IN ANY CONTENT AND MATERIALS, OR FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF ANY CONTENT POSTED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE VIA THE SERVICES.
WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY A THIRD PARTY THROUGH THE SERVICES, ANY HYPERLINKED WEBSITE, OR ANY WEBSITE OR MOBILE APPLICATION FEATURED IN ANY BANNER OR OTHER ADVERTISING. WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND ANY THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES. AS WITH THE PURCHASE OF A PRODUCT OR SERVICE THROUGH ANY MEDIUM OR IN ANY ENVIRONMENT, YOU SHOULD USE YOUR BEST JUDGMENT AND EXERCISE CAUTION WHERE APPROPRIATE.
16. LIMITATIONS OF LIABILITY
IN NO EVENT WILL GCC BROKERS, ITS DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL, OR PUNITIVE DAMAGES, INCLUDING LOST PROFITS, LOST REVENUE, LOSS OF DATA, OR OTHER DAMAGES ARISING FROM YOUR USE OF THE SERVICES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, OUR LIABILITY TO YOU FOR ANY CAUSE WHATSOEVER, AND REGARDLESS OF THE FORM OF THE ACTION, WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID, IF ANY, BY YOU TO GCC BROKERS DURING THE SIX (6) MONTH PERIOD PRIOR TO THE OCCURRENCE OF ANY CAUSE OF ACTION. CERTAIN LOCAL, NATIONAL, AND INTERNATIONAL LAWS, INCLUDING THOSE IN THE GCC REGION, MAY NOT ALLOW LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE ABOVE DISCLAIMERS OR LIMITATIONS MAY NOT APPLY TO YOU, AND YOU MAY HAVE ADDITIONAL RIGHTS.
17. INDEMNIFICATION
You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys' fees and expenses, made by any third party due to or arising out of:
(1) your Contributions;
(2) use of the Services;
(3) breach of these Legal Terms;
(4) any breach of your representations and warranties set forth in these Legal Terms;
(5) your violation of the rights of a third party, including but not limited to intellectual property rights;
(6) any overt harmful act toward any other user of the Services with whom you connected via the Services.
Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.
18. FORCE MAJEURE
● Force Majeure events are exceptional, unusual, or emergency market conditions that may prevent GCC Brokers Limited from fulfilling its obligations. These events include, but are not limited to:
• Markets in an emergency or exceptional state, as reasonably assessed by GCC Brokers Limited.
• Suspension, closure, or imposition of limits or special terms on trading in any market used for quoting by GCC Brokers Limited.
• Occurrence of speculative movements that distort market prices, as reasonably assessed by GCC Brokers Limited.
• Compliance with any law, government order, regulation, or direction.
• Events preventing orderly markets in any normally quoted contracts by GCC Brokers Limited.
• Abnormal loss of liquidity or excessive volatility in quoted markets or reasonable anticipation of such events by GCC Brokers Limited.
• Natural disasters, strikes, riots, civil commotion, terrorism, interruption of power supply, electronic communication, technical issues, or other events beyond GCC Brokers Limited's control.
● In the event of a Force Majeure situation as reasonably assessed by GCC Brokers Limited, the company may take the following actions at its absolute discretion:
• Suspend trading and/or amend quoting hours for all or any markets.
• Increase deposit/Margin requirements and/or amend credit limits for Credit Accounts.
• Close any or all open Positions.
• Refuse to take further Transactions, even if they would be closing trades.
• Immediately require payment of Margin and/or any other amounts owed by the client.
• Cancel or fill orders at levels deemed fair and reasonable by GCC Brokers Limited in good faith.
• Reduce the maximum allowable Transaction Size.
• Vary any quoted spreads.
• Suspend or amend any part of these Terms and Conditions if compliance is impossible or unreasonable for GCC Brokers Limited.
• Take actions deemed proper by GCC Brokers Limited to protect clients and the company as a whole.
● In the absence of fraud or bad faith, GCC Brokers Limited shall not be liable to the client for any losses resulting from actions taken in accordance with this Clause during a Force Majeure event.
19. USER DATA
We will maintain certain data that you transmit to the Services for the purpose of managing the performance of the Services, as well as data relating to your use of the Services. Although we perform regular routine backups of data, you are solely responsible for all data that you transmit or that relates to any activity you have undertaken using the Services. You agree that we shall have no liability to you for any loss or corruption of any such data, and you hereby waive any right of action against us arising from any such loss or corruption of such data.
20. ELECTRONIC COMMUNICATIONS, TRANSACTIONS, AND SIGNATURES
Visiting the Services, sending us emails, and completing online forms constitute electronic communications. You consent to receive electronic communications, and you agree that all agreements, notices, disclosures, and other communications we provide to you electronically—whether via email or through the Services—satisfy any legal requirement that such communications be in writing.
YOU HEREBY AGREE TO THE USE OF ELECTRONIC SIGNATURES, CONTRACTS, ORDERS, AND OTHER RECORDS, AND TO THE ELECTRONIC DELIVERY OF NOTICES, POLICIES, AND RECORDS OF TRANSACTIONS INITIATED OR COMPLETED BY US OR VIA THE SERVICES. You hereby waive any rights or requirements under any statutes, regulations, rules, ordinances, or other laws in any jurisdiction that require an original signature, the delivery or retention of non-electronic records, or payments or the granting of credits by any means other than electronic means.
21. MISCELLANEOUS
These Legal Terms and any policies or operating rules posted by us on the Services or in respect to the Services constitute the entire agreement and understanding between you and us. Our failure to exercise or enforce any right or provision of these Legal Terms shall not operate as a waiver of such right or provision. These Legal Terms fully operate permissible by law. We may assign any or all of our rights and obligations to others at any time. We shall not be responsible or liable for any loss, damage, delay, or failure to act caused by any cause beyond our reasonable control. If any provision or part of a provision of these Legal Terms is determined to be unlawful, void, or unenforceable, that provision or part of the provision is deemed severable from these Legal Terms and does not affect the validity and enforceability of any remaining provisions. There is no joint venture, partnership, employment or agency relationship created between you and us as a result of these Legal Terms or use of the Services. You agree that these Legal Terms will not be construed against us by virtue of having drafted them. You hereby waive any and all defenses you may have based on the electronic form of these Legal Terms and the lack of signing by the parties hereto to execute these Legal Terms.
22. DEFINITIONS
In this Agreement (and in addition to expressions defined elsewhere on our website) the following words and expressions shall have the following meanings:
Account Balance:
The cash balance on your account, excluding profits or losses on open positions.
Applicable Laws:
Any national, local, or other statute, law, rule, code, guidance, order, or decision of a Governmental Authority.
Application Form:
The form provided by GCC Brokers Limited in relation to these Terms and Conditions.
Associated Company:
Any holding company or subsidiary company within the GCC Brokers Limited group and/or any subsidiary company of any such holding company or its subsidiaries.
Authorized Third Party:
A person authorized by you to operate your account.
Bet (including Betting, Dealing, Trading):
A reference to a client entering into a transaction.
Bid or Bid Price:
The price at which the Client can sell.
Buy (including Take, Long, Long Position):
Making a buy transaction or buying the market quoted by GCC Brokers Limited.
Client:
A person or company who has opened an account with GCC Brokers Limited and agreed to these Terms and Conditions.
Client Funds:
Your funds in your account held by GCC Brokers Limited.
Credit Account:
An account where GCC Brokers Limited offers you a credit line as trading resources.
Contract For Difference or CFD:
A reference to a client placing a CFD trade.
Default Event:
Circumstances where certain conditions are met as outlined in this definition.
o Any statement, either oral or written, made by you to GCC Brokers Limited is or becomes untrue or misleading.
o You fail to carry out any of your obligations to GCC Brokers Limited under this Agreement (including failure to satisfy a Margin Call) or you fail to do anything that you have stated that you will do whether orally or over the telephone or by any form of written or electronic message.
o In the event of your death or becoming a patient within the meaning of any applicable mental health legislation.
o You are in default of payment of money owed to GCC Brokers Limited or any of its Associated Companies or Trading Partners.
o GCC Brokers Limited at its sole discretion believes that any of the circumstances set out in this definition are likely to happen.
Deposit Account:
An account where you need to deposit funds before commencing trading.
DTP:
A Downloadable Trading Platform provided by GCC Brokers Limited for trading our markets.
Execution Policy:
GCC Brokers Limited's order Execution Policy, as summarized on our website.
Expiry Date:
The expiry date and time of a transaction.
FX or Forex:
Currency trading.
If Done Order:
An order that is only triggered on the activation of another attached order.
IMR or Min IMR:
Initial Margin Requirement, representing the minimum Trading Resources required to place an opening trade.
Offer or Offer Price:
The price at which the Client can buy.
Order Book:
The window on the OTP where your working orders are listed.
OTP:
An Online Trading Platform provided by GCC Brokers Limited for trading our markets.
Overnight Financing:
The credit or debit applied to your account when holding a position overnight.
Pricing Error:
A misquote by GCC Brokers Limited that deviate materially and clearly from the prevailing market price.
Position(s):
Open transactions.
Quote:
The price quoted by GCC Brokers Limited via an OTP or DTP or over the telephone.
Quoting Hours:
The times when GCC Brokers Limited quotes its markets.
Sell or Short:
Making a sell transaction or selling the market quoted by GCC Brokers Limited.
Size(s):
The size of the buy or sell transaction.
Stop or Stop Loss:
An order to close an open position at a predetermined level.
Trading Partners:
Entities with whom GCC Brokers Limited has a contractual relationship.
Trading Resources or Free Margin:
The amount of money available on your account for new transactions.
Transactions:
Any buy or sell trade made between you and GCC Brokers Limited.
Underlying Market:
The physical underlying assets from which our markets are derived, and where those assets are traded.