PLEASE READ THIS CLIENT AGREEMENT CAREFULLY BEFORE USING THE WEBSITE OR ANY SERVICES OFFERED THROUGH THE WEBSITE.
This Client Agreement (hereinafter referred to as Agreement) are entered into by and between you and Barclay Stone Limited, company number 2020-00035, registered Rodney Bayside Building, Rodney Bay, Gros-Islet, St. Lucia, a private limited company created and existing under the laws of Saint Lucia ("Company", "we" or "us").
This Agreement will govern the use of the services provided through the Website barclay-stone.com (hereinafter referred to as Website) operated by Barclay Stone Limited (the “Services” or “Service”).
This Agreement is accepted as a web-based document and does not require signing by parties.ACCEPTANCE OF THE AGREEMENT
If you do not agree to this Agreement and policies published on the Website, you must not access or use the Website and any Services.
Abnormal Market Conditions - means conditions when there is low liquidity in the market, or rapid price movements in the market, or price gaps.
Client - any individual (except for stateless persons; individuals under 18 years old; citizens of the countries where Company's services are not offered), using the services of the Company in accordance with this Agreement.
Client Profile - a set of personal data about the Client, provided by himself/ herself during registration and verification process within the Client’s Area, and stored on the Company’s secure server.
Client’s Area – a workspace created in the web-interface, used by the Client for performing Trading and Non-Trading Operations and entering personal information.
Company - Barclay Stone Limited (registered number: 2020-00035) of Rodney Bayside Building, Rodney Bay, Gros-Islet, St. Lucia.
Instrument - any contract for difference or other financial instruments offered by the Company.
Non-Trading Operation – any operation related to deposit of funds into the Client’s Trading Account or withdrawal of funds from the Client’s Trading Account. For Non-Trading Operations, the Company uses electronic payment systems selected at its discretion and tied to the appropriate interface in the Client’s Area.
Trading Account - an account on the Company’s server that enables the Client to conduct Trading Operations.
Trading Operations - operation for the purchase or/and sale of CFD contracts performed by the Client using the Trading Terminal available in the Client’s Area.
Trading Server – a server owned by the Company with specialized software installed on it, which serves for conducting Trading and Non-Trading Operations of Clients and tracking the statistics of these operations.
Trading Terminal – a specialized interface located in the Client’s Area, connected to the Company’s Trading Server, and allowing Client to perform Trading Operations.
- GENERAL PROVISIONS
1.1 The service provided by the Company is an Internet service that uses the Website and its Trading Server to carry out Trading Operations. The use of the service implies the availability of sustainable high-speed Internet connection on the Client’s device.
1.2 In its activities, the Company is guided by existing Legislation on anti-money laundering and terrorist financing. The Company requires the Client to correctly enter personal data, and reserves the right to verify the Client’s identity, using the necessary methods:
- Upload scanned copies of documents confirming the Client’s identity and actual place of residence to the Client’s Profile;
- A phone call to the Client at the specified phone number;
- Other means necessary at the discretion of the Company to confirm the Client’s identity and financial activity.
1.3 A Client, regardless of his legal status (legal or natural person), is prohibited to have more than one registered profile. The Company reserves the right to terminate this Agreement or reset the results of Trading Operations in the event of re-registration of the Client Profile or in case of multiple profiles usage by the same Client.
1.5 The Client is responsible for the safety of the Client’s Area authentication data received from the Company, in case of loss of access to the Client’s Area, Client must immediately notify the Company in order to block access to the funds in the Trading Account**.**
1.6 The Company carries quoting of the Clients by using its own paid sources of quotations, applying processing of the quote flow in accordance with the needs of ensuring the liquidity of contracts opened by Clients. Quotes of any other companies, and/or quotes taken from other paid sources, cannot be taken into account when considering disputes.
1.7 The Company provides the Client with a specially prepared web interface (Trading Terminal) to carry out Trading Operations within the Client’s Area.
1.8 The Company prohibits the Client to resort to any type of fraudulent activity that may be considered by the Company in the Client’s actions aimed at gaining profit using actions or operations not instructed by the Company, vulnerabilities in the Website, bonus speculation, and trading with a group of persons, including but not limited to hedging transactions from different Trading Accounts. In this case, the Company reserves the right to terminate this Agreement or to reset the results of Trading Operations.
1.9 The Company reserves the right to terminate this contract or to reset the results of Trading Operations in cases of detecting an unfair attitude towards the Company as a whole and to the products and services provided, including (but not limited to) insulting employees and partners of the Company, slandering, publishing unreliable information about the Company, negative reviews, attempted blackmail or extortion by the Client.
1.10 The Client shall ensure that his/her activities fully comply with the legislation of the country where they are conducted.
1.11 The Client acknowledges and accepts the responsibility for the payment of all taxes and fees which may arise from the performance of Trading Operations.
- NON-TRADING OPERATIONS
2.1 Non-Trading Operations include operations performed by the Client to top-up the Trading Account as well as withdraw funds from it (deposit and withdrawal of funds).
2.2 Non-Trading Operations are performed by the Client with the help of the Client’s Area functionality. The Company does not carry out Non-Trading Operations requested using conventional means of communication (Email, ICQ, Live-chat, etc.).
2.3 While performing Non-Trading Operations, the Client is only allowed to use personal funds held in electronic and bank payment Trading Accounts owned by the Client.
2.4 The currency of the Trading Account can be in the US dollars, Russian Rubles, Euros, Great British Pounds or in Swiss Francs. The currency is used to display Client’s Trading Account balance. Trading Account currency cannot be changed by the Client. Automatic recalculation of the deposited amount from the currency used by the Client to the currency of the Trading Account is applied when Client deposits funds into the Trading Account. The same process occurs during withdrawal procedures.
2.5 In case of currency conversion, the Company uses exchange rate in accordance with the quotes that are received from supported electronic payment providers at the time of the Non-Trading Operation execution.
2.6 The Company sets the following minimum amounts for Non-Trading Operations (unless specified otherwise):
— Deposit – 100 USD/250 GBP/250 EUR/250 GBP/10000 RUB;
— Withdrawal – 50 USD/250 GBP/250 EUR/250 GBP/5000 RUB;
2.7 If the Client uses different wallets for a Trading Account top-up, the withdrawal of funds to these wallets will be carried out in the same proportion in which the deposit was made. If the Company is not able to process the withdrawal of funds to the wallets indicated by the Client, the Company is obliged to contact the Client in order to change the selected payment systems or wallets. The company reserves the right to choose the payment method for the transaction.
2.8 According to generally acceptable AML rules and regulations, withdrawals must be performed only through the same bank account or credit/debit card that the client used to deposit the funds. Withdrawals from the Account may only be made in the same currency in which the respective deposit was made.
2.9 The Company does not allow the use of the provided services as a mean to extract profits from Non-Trading Operations, or in any way other than its intended purpose.
- TRADING OPERATIONS
3.1 Trading Operations include arbitrage operations for sale and purchase of CFD contracts with the trading instruments provided by the Company. These operations are executed via Trading Terminal provided by the Company within the Client’s Area.
3.2 The Company shall offer the following services to the Client:
Receive and transmit orders or execute (on an own Trading Account basis) orders for the Client in financial instruments.
Provide safekeeping and administration of financial instruments for the Trading Account of Client (as and if applicable), including custodianship and related services such as cash/collateral management.
Provide the Clients access to investment research data which may be relevant for Clients’ consideration.
3.3 The Company may enter into Trading Operations with the Client in Instruments specified on the Website.
3.4 The Company shall carry out all Trading Operations with the Client on an execution-only basis. The Company is entitled to execute Trading Operations notwithstanding that a Trading Operation may be not suitable for the Client.
3.5 The Company is under no obligation, unless otherwise agreed in the Agreement, to monitor or advise the Client on the status of any Trading Operation; to make margin calls; or to close out any Client’s open positions.
3.6 The Client shall not be entitled to ask the Company to provide investment advice or to make any statements of opinion to encourage the Client to make any particular Trading Operation.
3.7 The Company shall not provide physical delivery of the underlying asset of an Instrument in relation to any Trading Operation. Profit or loss in the currency of the Trading Account is deposited in/withdrawn from the Trading Account once the Trading Operation is closed.
3.8 The Company shall not provide personal recommendations or advice on the merits of any specific Trading Operations. Any information received from the company should not be taken as a call to action, and is purely advisory in nature. The Client, at his discretion, has the right to use analytical materials and to be guided by them when making transactions, but the Company is not liable for possible losses caused by following these materials.
3.9 The Company may from time to time and at its discretion provide information and recommendations in newsletters which it may post on the Website or provide to subscribers via its Website or otherwise. Where it does so:
this information is provided solely to enable the Client to make his/her own investment decisions and does not amount to investment advice;
if the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he shall not pass it on to any such person or category of persons;
the Company gives no representation, warranty or guarantee as to the accuracy of completeness of such information or as to the tax consequences of any Trading Operation;
The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he shall receive such information at the same time as other Clients. Any published research reports or recommendations may appear in different parts of the Website and come through different information channels form the Company .
It is provided solely to assist the Client to make the Client’s own investment decisions and does not amount to investment advice or unsolicited financial promotions to the Client.
It does not necessarily take into consideration the relevant legislative or regulatory framework of the country where the Client is located.
3.10 The Company shall have the right to request and the Client shall be obliged to provide information about the Client’s knowledge and experience in the investment field so that it can assess whether the service or product envisaged is appropriate for the Client. If the Client elects not to provide such information to the Company or if the Client provides insufficient information, the Company shall not be able to determine whether the service or product envisaged is appropriate for the Client. The Company shall assume that information about his/her knowledge and experience provided from the Client to the Company is accurate and the Company shall have no responsibility to the Client if such information is incomplete or misleading or changes or becomes inaccurate unless the Client has informed the Company of such changes.
3.11 The Company reserves the right, at its discretion, at any time to refuse to provide the services to the Client and the Client agrees that the Company shall have no obligation to inform the Client of the reasons. The Company further reserves the right to suspend, delay and/or amend the provision of any Services in the event of Abnormal Market Conditions.
3.12 Market commentary, news, or other information are subject to change and may be withdrawn at any time without notice.
3.13 The Client understands, confirms and accepts herein that any and/or all of his/her trading history in Web Trader and/or MetaTrader 5 Platforms may at any time and without prior written consent and/or notice to the Client, further be archived by the Company to a single summarized line in the respective Web Trader and/or MetaTrader 5 trading account, where such trading history records exceed a timeframe of one (1) month.
3.14 The Company reserves the right to suspend, close, or unwind any Trading Operation which has resulted from any misconfiguration, technical error, or if the Company suspects any fraud, manipulation, arbitrage, or other forms of deceitful or fraudulent activity on the Trading Account or multiple Trading Accounts with the Company or otherwise related or connected to any and/or all Trading Operations. Under such circumstances, the Company shall be entitled to withdraw any profits and charge any costs which it deems, in its sole discretion, to have been inappropriately gained and shall not be liable for the cancelation of any Trading Operation or profits or in the event of any damages or losses which may result from the suspension, closure or unwinding.
- QUOTES AND INFORMATION
4.1 The price offered in the Company’s Trading Terminal is used for Trading Operations. Trading conditions for instruments are specified in the contract specifications. All issues related to determining the current price level in the market are in the sole competence of the Company, their values are the same for all Clients of the Company.
4.2 In the event of an unplanned interruption in the flow of server quotes caused by a hardware or software failure, the Company reserves the right to synchronize the base of public offer quotations on the Trading Server with other sources. Such sources may be:
the quotes base of the liquidity provider;
the quotes base of a news agency.
4.3 In the event of a failure in profit calculation by the type of financial instrument as a result of incorrect response of the software and/or hardware of the Trading Server, the Company reserves the right to:
cancel a mistakenly opened position;
adjust a mistakenly executed Trading Operation according to the current values.
- COMMISSIONS, CHARGES AND OTHER COSTS
5.1 The Client shall be obliged to pay the Company the commissions, charges and other costs set out on the Website.
5.2 The Company may vary commissions, charges and other costs from time to time without prior written notice to the Client. All changes in commissions, charges and other costs are displayed on the Website.
5.3 The Client agrees in the event that his/her remaining Trading Account balance is up to 1 EUR/USD or the equivalent to EUR/USD per account and his/her Trading Account is closed or inactive for more than 90 calendar days, then the Company shall have the right to deduct this remaining Trading Account Balance and use it for charity purposes at its absolute discretion.
5.4 The Client undertakes to pay all stamp expenses relating to this Agreement and any documentation which may be required for the carrying out of the Trading Operations.
5.5 The Client shall be solely responsible for all filings, tax returns and reports on any Trading Operation which should be made to any relevant authority, whether governmental or otherwise, and for payment of all taxes (including but not limited to any transfer or value added taxes), arising out of or in connection with any Trading Operation.
5.6 In case the Client performs a withdrawal request without any trading activity from the last deposit made or if any other form of abuse is found the Company reserves the right to:
a) charge the Client the equivalent amount of any deposit fees incurred, or/and
b) 20% of the total withdrawal amount but not less than the amount of 100 USD or the equivalent to USD per account.
The Client shall be notified via email about the processed withdrawal request and applied charges.
5.7 In case the Client does not have any trading activity on Trading Account for a period equal to 60 consecutive calendar days or more starting from the last Clients trading activity, the Company on a monthly basis may charge at its sole discretion the Client an amount of 100 USD or the equivalent to USD per account, depending on the Client’s Trading Account currency.
5.8 The Client acknowledges and agrees that the Company will not pay interest to the Client on funds located on Trading Account.6 LIMITATIONS OF LIABILITY AND INDEMNITY
6.1 In the event the Company provides advice, information or recommendations to the Client, the Company shall not be responsible for the profitability of such advice, information or recommendations. The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information
given to the Client including, without limitation, information relating to any Trading Operation.
6.2 The Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from:
a) any error or failure in the operation of the Trading Platform or any delay caused by the Trading Terminal;
b) Trading Operations made via the Trading Terminal;
c) any failure by the Company to perform any of its obligations under the Agreement as a result of a cause beyond its control; or
c) acts, omissions or negligence of any third party.
6.3 The Company shall in no circumstances be liable to the Client for any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs, expenses or damages the Client may suffer in relation to the Agreement.
6.4 The Company is not a provider of communication (Internet connection) services and is not liable for non-fulfillment of obligations due to failure in communication channels.
6.5 The Client undertakes not to distribute in any media (social media, forums, blogs, newspapers, radio, television, including but not limited to the abovementioned) any information about the Company without prior approval of the content with its official representative.
6.6 The Company does not compensate the Client for moral damage.
7.1 The main communication method between the Company and the Client is email correspondence, which does not cancel the Company’s obligation to provide the Client with the necessary support using other means and methods of communication available on the Website.
- AMENDMENT AND TERMINATION
8.1 The Company reserves the right to amend this Agreement in whole or in part without notifying the Client. The current Agreement can be found on the Website, the revision date is indicated in the appropriate section.
8.2 Both parties to the Agreement can terminate this Agreement by giving such notice in writing to the other Party.
- RISK DISCLOSURE
9.1 The Client assumes the risks of the following types:
General risks in investing associated with the possible loss of invested funds as a result of committed Trading Operations. Such risks are not subject to state insurance and are not protected by any legislative acts.
Risks associated with the use of third party electronic payment systems.
The Client is aware that he/she cannot invest funds in his/her Trading Account, the loss of which will significantly impair the quality of his life or create problems for the client in relations with third parties.
9.2 There may be additional risks, which have not been disclosed in this Agreement. You acknowledge and agree that you access and use the Website and Services at your own risk. For more information please read The Risk Disclosure.
- PROCEDURE OF HANDLING CLAIMS AND DISPUTES
10.1 All disputes between the Company and the Client are resolved in a complaint procedure by negotiation and correspondence.
10.2 The Company accepts claims arising under this Agreement only by email [email protected] and not later than seven business days from the date (day) of a disputed case.
10.3 The Company is obliged to review the claim of the Client in a period not exceeding 14 business days upon receiving a written complaint from the Client, and to notify the Client about the outcome of the complaint by email.
10.4 The compensation payment is credited to the Client’s Trading Account within one business day after a positive decision has been taken on the Client’s claim.
10.5 In the event of a dispute that is not described in this Agreement, the Company, when making a final decision, is guided by the norms of generally accepted international practices and ideas about a fair settlement of the dispute.
- WAIVER AND SEVERABILITY
11.1 No waiver of by the Company of any term or condition set forth in this Agreement shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of the Company to assert a right or provision under this Agreement shall not constitute a waiver of such right or provision.
11.2. If any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Agreement will continue in full force and effect.