Terms & Conditions
- General Terms
This document creates an agreement between GN Capital Limited (hereinafter: “The Company” or “We” or “Us”) and any user of the Company website located at www.pwrtrade.co (hereinafter, respectively, “You” or “The Trader(s)” or “The Client(s)”, and the “Site”). Access to and use of the Site are subject to the following terms and conditions (the “Terms”). BY USING AND ACCESSING THE SITE, YOU ACCEPT, WITHOUT LIMITATION, ALL OF THE TERMS. We reserve the right to change the Terms at any time. Change of the Terms will occur by posting of a new and modified version of the Terms on the Site. By using the Site, you agree to be subject to the provisions of the Terms, as they may be from time to time. If you do not agree with the Terms, conditions, policies, or other related disclaimers and procedures, it is advised that you discontinue using this Site immediately.
The Terms applies to both the Site and the trading platform accessible through the Site, and to any and all electronic content and/ or software currently contained or accessible on or through the Site that provides real-time information on exchange rates of currencies and the program transaction services on the forex and stock market via internet, telephone or fax and any other features, content or services that The Company may add later or remove (the “Services”). We may offer to and impose on each client (or group of clients), in our sole discretion, different terms and restrictions with respect to their use of the Site and the Services.
In order to use the Services, you must be above 18 and capable of forming a legal contract between you and us.
- License to use the Site and Trading Platform
We hereby grants you a limited, revocable, non-exclusive, non-transferable and non-assignable license to access and use the Site and the trading platform through the Site. Such license is subject at all times to your compliance with these Terms. The right and license to use the Site and the trading platform is personal and cannot used for any business purpose whatsoever. You are not allowed to let other to use the Site and the trading platform.
Upon registration, you shall be required to provide certain identifying information. You shall be exclusively and solely responsible for providing updated, complete and accurate registration information and for the security of your account’s login and password. You are solely responsible for all action or inaction taken on your The Company trading account using your login information including without limitation in case of any damage incurred by the Company as a result of such actions.
Unless otherwise agreed, all notices, instructions, and other communication, including but not limited to Skype, SMS, and WhatsApp, to be given by us to you under this Agreement shall be given to the address, phone number, or email address provided by you to us. Likewise, all notices, instructions, and other communications to be given by you under this Agreement shall be given to us via email at [email protected].
Subject to Applicable Regulations, any communication between us using electronic signatures and any communications via our website and/or Electronic Services shall be binding as if they were in writing. Orders or instructions given to you via e-mail or other electronic means will constitute evidence of the orders or instructions given.
Recording of calls
We may record telephone conversations without use of a warning tone to ensure that the material terms of the Transaction, and any other material information relating to the Transaction is promptly and accurately recorded. Such records will be our sole property and accepted by you as evidence of the orders or instructions given.
Our records, unless shown to be wrong, will be evidence of your dealings with us in connection with our services. You will not object to the admission of our records as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request at our absolute discretion.
You agree to keep adequate records in accordance with Applicable Regulations to demonstrate the nature of orders submitted and the time at which such orders are submitted. You can access your statements online at any time via our trading platform. You may request to receive your statement monthly or quarterly via email, by providing such a request to the support department.
Additional Warranties, Limitations and Certain Disclaimers
- It is your personal responsibility to make sure that you properly comply with any and all laws, regulations or guidelines in your country of residence regarding the use of the Site and the trading system.
- You hereby declare that the money in your account with The Company does not come from money laundering or other illegal or criminal activity and that your activity on the Site and through the trading platform will comply at all times with applicable laws and regulations.
- The Company may rely and act on any order, request or instruction may by you or any person authorized on your behalf, without further inquiry on the part of the Company as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request or instruction.
- The Company may set, at its absolute discretion, limits and/or parameters to control your ability to place orders or to restrict the terms on which a transaction may be made and may amend such limits and/or parameters at its discretion.
- We do not allow actions or non-actions based on arbitrage calculations or other methods that are based on exploitation of different systems or platforms malfunction, delay, error etc.
- We are entitled, at our discretion, to cancel any trade that has been executed due or in connection with an error, system malfunction, breach of these Terms, etc. and our records will serve as conclusive evidence as to the correct quotes, as applicable.
- We reserve the right to cancel any transaction which we believe to be based on an obvious error, or fraudulent, including without limitation offers to execute a transaction for exaggerated amounts.
- The financial information provided on this Site is intended to be advice, not cause for action. You alone are responsible for taking any action or inaction on your account including but not limited to: deposits, withdrawals and trades. We and our suppliers do not warrant the accuracy, timeliness, completeness or correct sequencing of the financial information, or results of your use of any financial information. The financial information may promptly become unreliable for various reasons, including, without limitations, changes in market conditions, volatility, liquidity or economic circumstances. It is your responsibility as a trader to verify the reliability of the information on the Site and its suitability for your investment needs. We exclude all liability for any claim, damages or loss of any kind caused by information contained in or provided by the Site
- The features of the Services may change at our discretion, including without limitations, prices, expiration periods and payout amounts quoted for various assets (such features may also vary between different trading platforms), the financial information provided to you through the Services. Changes may occur quickly which may cause the loss of all or part of your investment. You acknowledge and confirm that you are able to withstand the loss of any money you invest and that you understand the risks and have experience in taking risks in financial markets. You could endure a loss of some or all of your initial investment and hence you should not invest money that you cannot afford to lose. You should be aware of all the risks related to CFDs trading, and solicit advice from an independent financial advisor in case of doubts.
Usage of the Trading platform and the services derived from it, is mandatory and any inactivity on the account, manifested through lack of access, shall be charged accordingly. If the last log in date is older than 45 days from the present date, at which the charge is made, the credit provided by the company will be removed without previous notice and all profits derived from it.
Dormant Trading- if the client does not perform any trading activity or the volume of the trading activity is very low for any period of time defined by the Company, the Company preserves the right to charge the trading account with a dormant trading commission, at a rate determined by the Company as follows:
No trading activity 60 days – 100 Units
No trading activity 90 days – 200 Units
No trading activity 120 days – 500 Units
No trading activity 150 days – 1000 Units
No trading activity 180 days – 2000 Units
No trading activity 210 days – 4000 Units
No trading activity 240 days – 8000 Units
After 9 months the account can be deactivated indefinitely and any relevant inactivity fees will be applied.
The company holds the right to deduct from the client’s account balance an overnight fee in case any open trade held by “the Client“ will remain open after closing hours of the market (midnight GMT +0) as explained below:
“The Client“ is aware that in the case specified above an overnight fee will be subtracted from the respective account. The overnight fee is a constant fee/percentage of the position value/currency amount per units.
Fees generated will be charged at the closing of the position as a fixed percentage from the contract depending on the type of asset chosen:
commodities – 0.0041%
currencies – 0.00495%
indices – 0.007%
stocks – 0.021%
pairs – 0.021%
cryptocurrency – 0.5%
etf – 0.01%
1,000,000 * 0.0041% = 41
10,000 * 0.0041% = 0.41
The overnight fee does not apply for Saturdays, Sundays and Market Holidays.
Special Offers Policy
From time to time, the Company may grant special offers, rewards, promotions, gift plans, bonuses, etc. to new or existing customers (collectively, together with any profits made using such special offers, promotions, and bonuses, “Bonuses”). The Company offers a Gift Plan in appreciation to clients that deposit a specific amount and agree to a specified trading volume. The Gift specifications shall be agreed between the Company’s representative and the Client before shipment, by a separate written instrument, which includes email. Different Bonuses may apply to different clients or to groups of clients. Bonuses may be limited in time, scope, or otherwise, and may be subject to various conditions (e.g. presentation of documentations, minimum deposit, etc.) which, if not met, may prevent the exercise of any Bonuses. Any Bonus may be terminated or canceled by us at our sole discretion, including without limitation in the case of a breach in the defined special offer’s Terms, fraud or other unacceptable or illegal behavior by any client. For additional information regarding The Company’s Bonus Policy, visit the Bonus Policy page.
- Account Cancellation and Termination
The Company reserves the right, in its sole discretion, to refuse or cancel services and/or refuse to make payment to any client, and/or to immediately terminate its engagement with any client, for legitimate reasons, including, without limitation: (i) if we have reason to believe that a person’s activities on the Site may be illegal; (ii) if we may be harmed by any fiscal or pecuniary damage (including due to a regulatory fine, tax etc.) due to anyone’s activities; (iii) if we have reason to believe that a person has breached these Terms. Anything to the contrary above notwithstanding, either party may terminate the engagement between us by giving a seven (7) days written notice to the other party.
Without derogating from any other provision herein, we reserve the right to suspend the operation of this Site or the Services, including closing any open transactions and crediting the funds invested for such transactions back to your account, and refunding any credit balances in your account back to you, when, among others, (i) as a result of political, economic, military or monetary events (including unusual market volatility or illiquidity) or any circumstances outside our control; (ii) there is a breakdown in the means of communication normally employed in determining the price or value of any transaction or where the price or value of a transaction cannot be promptly or accurately determined; or (iii) from time to time, we perform maintenance upon the Site or Services resulting in interrupted service, delays or errors in the Site or Services.
Upon terminating for whatever reason, you shall be under the obligation to close all open positions, otherwise the Company shall have the right to close all open positions without assuming any responsibility.
Pwrtrade has the right to temporarily restrict any account from trading at its sole discretion if the account holder did not complete the verification process within the time set by pwrtrade. This applies to the first deposit and all deposits following within the account. Any account that has not been verified and has been restricted, will be unrestricted only upon the completed verification process by the account holder and only when all documents submitted are in accordance with our guidelines (it may take up to 48 business hours for documents to be processed, from the moment documents have arrived).
Any withdrawal is subject to submission of certain documents which the Company may require from time to time at its sole and absolute discretion. The client will be able to withdraw any amount of the Available Balance, based on the Company’s bonus agreement and Anti Money Laundering policies. Every withdrawal should be verified (together with any applicable submitted documents) and approved by the Company. The client shall bear any and all payments associated with any withdrawal, including without limitations, bank fees, payments to affiliates and/or other third parties, campaigns, financial institutions or processing companies.
The Company reserves the right to conduct any necessary checks on the client or otherwise in relation to anti-money laundering, terrorism financing, fraud or other illegal activity before permitting the client to withdraw funds from the client’s Account or returning any funds.
- Limited Liability
We do not advise you with regards to investing, purchasing securities or other using the services hereunder, nor about any trading action or non-action. In addition, we do not provide any tax, legal, regulatory or other advice whatsoever in connection with the use of the services. In addition, we shall not be responsible for any trade related losses resulting from your actions or non actions including without limitations in case you have acted based upon any financial or other information provided to you by us or by any broker.
THE SITE AND THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
The Company assumes no responsibility for any error, omission, deletion, interruption, delay or defect in operation or transmission, communication line failure, theft or destruction or unauthorized access or alteration of the Site or Services. In addition, the Company assumes no responsibility for any technical malfunctions of any telephone (including mobile) network or lines, computer online systems, servers or providers, hardware or software, or any technical failure due to technical problems or traffic congestion on the Internet, the Site or any Services.
Without derogating from the above, in no event shall the Company be responsible for any loss or damage, direct or indirect, arising from any content posted on or through the Site or the Services, or your conduct or the conduct of any other client.
IN NO EVENT SHALL THE COMPANY OR ANY OF ITS SHAREHOLDERS, PARTNERS, AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DAMAGES WHATSOEVER TO YOU OR TO ANY OTHER CLIENT, INCLUDING WITHOUT LIMITATION TO: INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THE USE OF THE SITE OR THE SERVICES, INCLUDING WITHOUT LIMITATION TO THE QUALITY OR THE USEFULNESS OF THE SERVICES OR THE SITE AND/OR ANY INFORMATION PROVIDED THROUGH OR AS PART OF THE SITE OR SERVICES, OR FOR ANY TRADING DECISION MADE ON THE BASIS OF THE INFORMATION, WHETHER OR NOT THE COMPANY HAS BEEN MADE AWARE OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, IN NO EVENT SHALL THE COMPANY’S CUMULATIVE LIABILITY EXCEED THE AMOUNT OF MONEY PAID BY YOU OR DEPOSITED IN YOUR ACCOUNT IN CONNECTION WITH THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
YOU HEREBY RELEASE AND AGREE TO INDEMNIFY, DEFEND AND HOLD HARMLESS US, OUR AFFILIATES, SHAREHOLDERS, PARTNERS, OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS, FROM ALL CLAIMS, LIABILITIES, LOSS AND DAMAGES (OF EVERY KIND, WHETHER KNOWN OR UNKNOWN AND SUSPECTED OR UNSUSPECTED) RELATED TO IN ANY WAY TO: (I) YOUR USE OF, ACCESS TO OR RELIANCE ON THIS SITE OR THE SERVICES, OR (II) YOUR VIOLATION OF ANY OF THE TERMS OF THESE TERMS OR ANY APPLICABLE LAWS OR REGULATIONS. You will not enter into any settlement or compromise of any such claim without our prior written consent. We may assume the exclusive defense and control of any matter subject to indemnification by you. In all events, you shall cooperate fully in the defense of any claim.
- Intellectual Property Rights
You acknowledge and agree that the Site, the Services and any and all content therein, including without limitation any associated or related software, graphics, text, videos, pictures, trademarks, Logos, trade-names, know-how, ideas, concepts and any other intellectual property rights, and any and all improvements, enhancements and amendments thereto (“the Company IP”), are protected by copyrights, trademarks, service marks, patents or other proprietary rights, both with respect to individual content and as a collective work or compilation, pursuant to laws and international conventions. Any rights to the Company IP are reserved by us and out licensors and for the avoidance of any doubt, you shall not have any right or interest in the above other than to the limited rights specifically granted to you herein.
Any ideas, information, questions, answers, suggestions, emails and comments, provided by you to us shall not be considered confidential or of a proprietary nature. In providing us with any of the above, you authorize us to use it and any developments or derivatives thereto, according to our needs as determined in our sole discretion, including for public relations and promotion of the Site and the Services in the online and offline media, and all without requirement of any additional permission from you or the payment of any compensation to you.
- Fraud and Anti Money Laundering
We employ best-practice anti-money laundering (“AML”) procedures. We reserve the right to refuse to do business with, to discontinue to do business with, and to reverse any transactions with you if you do not accept or conform to the following AML requirements and policies: (i) you must provide us with all requested information upon registration; (ii) any amounts payable to you upon the expiration of a transaction will only be paid to the individual who initially registered to open an account; (iii) if you deposit funds to your account by means of wire transfer, any withdrawals will only be transferred to the holder of the originating bank account of the deposit. It is your responsibility to ensure that your bank account number and the registered name of the account owner accompany all such deposits to us; (iv) if you deposit funds to your account by means of credit/debit card, withdrawals will only be distributed to the individual whose name appears on the card used to make the deposit and only to the same card; (v) only one account is allowed per person. No amount may be withdrawn from accounts opened in a false name or on multiple accounts opened by the same person.
- Governing Law and Jurisdiction
This Agreement will be governed by in accordance with the laws of Bulgaria without regard to its choice of law principles. Any legal action or proceeding arising in connection with this Agreement will be brought exclusively in courts of Bulgaria, and the parties irrevocably consent to such personal jurisdiction and venue. Legal disputes involving the Armenian legal entity should be resolved on the territory of the Republic of Armenia.
- Miscellaneous; Changes to Terms
In the event that any provision in this Agreement is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect. The failure of a party to enforce any right or provision of these Terms will not be deemed a waiver of such right or provision. We may assign these Terms or any rights and/or obligations hereunder without your consent. We may change the content of these Terms at any time without notification. You are solely responsible for the knowledge of all contained within and of upholding all stipulations and provisions contained within These Terms. Should you find that you no longer are willing or able to adhere to the provisions and stipulations stated in these Terms, you must discontinue use of the Site and the Services without delay.
14. We assess all taxes on the transaction activity. Such taxes are assessed on the total amount of sales of services.
- Selling Feature Abuse
The Company offers a selling feature that allows traders to sell an order (position) within a few seconds of execution. In order for an order of buying/selling to be considered valid and for the investment to be added to the trading volume of the customer, the order must remained open for at least 1 minute.
Any trading pattern that will involve a cancelation order abuse from the side of the customer, arbitrary calculations or other any other methods that are based on the exploitation of the system or platforms malfunction, are considered a violation of the company’s Terms and Conditions and can result in the forfeiture of profits and company bonus funds.
- Disputes and complains
The Client shall immediately inform the Complaints department via e-mail to [email protected] of any dispute and complaint the Client may have in relation to the services provides by the Company. Such complaint (along with all the relevant details) will be dealt with in accordance with the Company internal procedures. The purpose of this procedure is to ensure fair and consistent dealing with client complaints whilst striving to provide the highest level of customer service. Company will endeavour to investigate any dispute or complaint as soon as reasonably practicable and will notify the Client of the results of such investigation via e-mail or phone by our dedicated Customer Relations Executives in maximum 48 business hours from the moment the complaint was submitted.