This page is provided for general information and does not constitute legal advice. These terms may be updated from time to time, and the version in force is published on this page. For specimen contractual documents see the agreements page. For enquiries contact the Compliance and Complaints department at compliance@gsc.ps or on +970 2 294 3512.
Terms and Conditions
These terms and conditions (hereinafter “the Agreement”) form a binding legal and regulatory framework governing the contractual relationship between the bank or company (“the First Party”) and the client (“the Second Party”). The Agreement is intended to regulate the use of the electronic trading services provided by the First Party through the digital platform or mobile application, so that the rights and obligations of both parties are clear and transparency and trust are strengthened. Your use of this service, whether direct or indirect, constitutes your express acknowledgement that you have read and fully understood all the clauses of this Agreement, that you agree to be bound by them without reservation, and that you bear full legal responsibility for any use made through your account.
Definitions
For the purposes of this Agreement, the following words and terms carry the meanings set out beside each of them, unless the context requires otherwise, so as to ensure clarity of interpretation and avoid any possible ambiguity in application or execution:
- The Bank / Company: the licensed legal entity providing the electronic trading services, including all its branches, subsidiaries and any party operating under its supervision or on its behalf in providing these services.
- The Client: any natural or legal person who opens an account or uses the electronic trading services provided by the First Party, whether for themselves or as an authorised representative of another party, including current and prospective users.
- The Service: the integrated electronic trading system provided by the First Party, giving the client access to the financial markets and the ability to buy and sell various financial instruments such as shares, investment funds and other financial products.
- The Account: the electronic trading account created and registered in the client's name with the First Party, used to manage and execute all financial and trading operations connected with the Service.
- Orders: all instructions or requests issued by the client through the platform or application, whether to buy or sell financial instruments, executed in accordance with the approved systems and procedures.
(Trading is commonly defined as the process of issuing orders through the platform to buy or sell various financial instruments, depending on market movements and on real-time supply and demand.)
Opening an account and using the Service
- When applying to open an account, the client undertakes to provide all required data and information accurately, correctly and completely, including personal and financial information. The client bears full responsibility for the accuracy of this data and must keep it updated whenever any change occurs, so that the Service continues without obstruction.
- The First Party reserves the full right, at its absolute discretion, to refuse any application to open an account, or to suspend or close an account at any time without being required to give reasons, in line with its internal policies or its regulatory and legal obligations.
- The client undertakes to use the Service lawfully and legitimately only, not to exploit it in any illegal activity or activity contrary to the applicable regulations, and not to engage in any practice that may harm the integrity of the system or affect other users.
Execution of trading orders
- Trading orders issued by the client are executed at the market prices prevailing at the time of actual execution, which may differ from the prices shown to the client when the order was entered, as a result of rapid market movement.
- The First Party does not guarantee execution at the price specified by the client, since execution is subject to market conditions and available liquidity, and an order may in some cases be executed at a different price.
- The First Party may, at its discretion, refuse or postpone execution of any trading order where there are technical or regulatory reasons, or where unusual or non-compliant activity is suspected.
Client responsibilities
- The client undertakes to keep their login credentials confidential, including username and password, not to share them with any other party, and bears full responsibility for any unauthorised use of their account.
- The client bears full responsibility for all operations and instructions carried out through their account, whether performed personally or by any other party who gains access to the account.
- The client undertakes to comply with all applicable financial laws, regulations and rules, whether local or international, and bears legal responsibility for any breach.
Risks
- The client acknowledges and fully understands that trading in the financial markets involves a high degree of risk, and that prices may fluctuate rapidly for multiple reasons, including economic and political conditions.
- Trading may lead to partial or total loss of the invested capital, and there is no guarantee of achieving profit or of limiting losses.
- The First Party bears no responsibility for losses the client may incur as a result of market movements or of their own investment decisions; responsibility for those decisions rests entirely with the client.
Fees and commissions
- The client agrees to pay all fees, commissions and costs associated with use of the Service, as determined by the First Party in accordance with its approved policies.
- The First Party reserves the right to amend fees or introduce new fees from time to time, provided the client is notified by appropriate means. Continued use of the Service is deemed implied acceptance of those amendments.
Limits of the bank's liability
- The First Party does not guarantee that the Service will be continuously available without interruption or free from technical error, as the Service may be affected by factors outside its control.
- The First Party bears no responsibility for losses or damages that may arise from:
- Faults or technical problems in the system or platform.
- Delay in executing orders because of market or system load.
- Loss of internet connection or of any other means of communication.
Security and privacy
- The First Party undertakes to take the measures necessary to protect the client's data and preserve its confidentiality, in accordance with its approved privacy policies.
- The First Party may monitor operations carried out through the system to verify compliance with the applicable rules and laws, and to detect any suspicious or unlawful activity.
Amendments
- The First Party reserves the right to amend or update these terms and conditions at any time, in line with legal or operational changes.
- The client's continued use of the Service after amendments are published is deemed express agreement to be bound by the amended terms.
Suspension or termination
- The First Party may stop, suspend or close the client's account at any time in the event of:
- Breach of any of the terms and conditions of this Agreement.
- Suspicion of unlawful or fraudulent activity.
- Instructions or requests issued by the competent regulatory authorities.
Governing law
This Agreement is governed by and interpreted in accordance with the laws and regulations in force in the country, and the competent courts are the authority of reference for any dispute arising from the application or interpretation of this Agreement, in compliance with all relevant legal and regulatory requirements.
Acknowledgement
The client acknowledges having read these terms and conditions carefully, having understood all the clauses set out in them, and agrees to them fully and finally, undertaking to abide by them and act in accordance with them when using the Service.