Terms of Use in GEMFOREX

The financial trading services offered by GEMFOREX are provided by GEMFOREX operators, operating under the trade name "GEMFOREX (hereinafter referred to as "GEMFOREX" or the "Company").

GEMFOREX operators refers to all parties that operate GEMFOREX, including but not limited to legal persons (including Gemtrade LLC), incorporated organizations, ecosystem partners and teams that provide GEMFOREX Services and are responsible for such services.

Article1(Definition)

The defined terms contained in the Terms of Use shall have specific meanings unless otherwise indicated and may be used in the singular or plural as appropriate. Each term used shall be defined as follows

  1. "Service" refers to the provision of information using the financial trading platform, settlement service, IB system, e-mail system and various Internet services provided by the Company, as well as support related to all of them.
  2. "Client" refers to a person who agrees to the terms and conditions of the Service with the Company and has registered as a trader and/or as a partner (IB).
  3. "Terms of Use" refers to the terms and conditions (hereinafter referred to as the "Agreement") to be followed by the Client in using the Service.
  4. "Authorized Representatives or Attorney" Shall mean either the person who is expressly authorised by the Client to act on his/ her behalf; the abovementioned relationship is documented through a Power of Attorney, a copy of which is held by the Company.
  5. "Balance" Shall mean the funds available in a trading account that may be used for trading financial instruments.
  6. "Balance Currency" Shall mean the currency that the trading account is denominated in; it should be noted that all charges including spreads, commissions and swaps, are calculated in that currency.
  7. "Client Money" Shall mean money that is paid into the Company and is held for the Client. It is calculated as money deposited by the Client in his/her Trading Account, plus or minus any unrealised or realised profit or loss, plus or minus any amount that is due by the Client to the Company and vice versa.
  8. "Closed position" Shall mean a trading position which is no longer an open position.
  9. "Equity" Shall mean the balance plus or minus any profit or loss that derives from any open positions.
  10. "Fair Stop Out" Shall mean the closing of positions with the highest Margin in the event the Margin Level falls beneath the required minimum.
  11. "Free Margin" Shall mean funds that are available for opening a position. It is calculated as follows: Free Margin = Equity – Margin
  12. "Margin" Shall mean the required funds available in a trading account for the purposes of maintaining an open position.
  13. "Margin Level" shall mean the Equity to Margin ratio calculated as: Margin Level = Equity / Margin.
  14. "Open Position" shall mean any position that has not been closed. For example, an open long position is not covered by an opposite short position and vice versa.
  15. "Trading Account" Shall mean the account, which has a unique number, maintained by a Client for the purposes of trading financial instruments through the Company trading platform(s).
  16. "Value Date" Shall mean the delivery date of funds.
  17. "Vault" Shall mean the account, which has a unique number, maintained by the Client for the purposes of undertaking funding related activities.

Article2(Scope of the Agreement)

The scope of application of this Agreement is as follows

  1. It applies to all relations between the Company and the Client in relation to the use of the Service.
  2. The Company reserves the right to change the content and terms of this Service without prior notice to Clients.
  3. This Agreement overrides any other agreement, arrangement, express or implied statement made by the Company, unless the Company deems it necessary to change it. If the Company decides to change this Agreement, reasonable notice shall be given to the Client.

Article 3 (Client Registration and Agreement)

  1. Those who wish to use the Service may register as a Client by using the designated registration form at [www.gemforex.com].
  2. The Service is open to anyone who is 18 years of age or older, understands, can read and write the language of the country of correspondence, and is willing to commit to abide by this Agreement and the guidelines of the Service.
  3. Upon receipt of the application as per clause 3-1, the Company shall send a confirmation e-mail to the Client, and upon receipt of the e-mail by the Client stating the account number, etc., the contract for the Service (hereinafter referred to as the "Contract") shall be concluded and the Service shall commence.
  4. The Client acknowledges that he/she has read, understood and accepted the Agreement, including but not limited to the information contained in the "Legal Information" and "Legal Documents" sections, in addition to the information contained in the Company's website available online at [www.gemforex.com].
  5. By accepting the Agreement, the Client enters into a legally binding contract with the Company.
  6. The Client acknowledges that the Company's official language is English.

Article 4 (Provision of Services)

  1. The Company provides investment services to the client.
  2. The Company offers, on an execution-only basis, a number of financial instruments to the client, the contract specifications of which are available online at www.gemforex.com.
  3. The trading conditions and execution rules of the financial instruments on offer by the Company can be found online at www.gemforex.com, at any given time. Upon notice to the client, the Company reserves the right to amend, from time to time, both the trading conditions and execution rules. Even if the Company amends any part of the trading conditions and/ or execution rules the client continues to be bound by the Agreement, including but not limited to any amendments that have been implemented.
  4. Under no circumstances, the Company shall provide investment advice or recommendation to the client or state an opinion in relation to a transaction. The client understands that if necessary, independent advice should be sought in relation to trading financial instruments, including but not limited to trading specific financial instruments, investment strategies pursued, charges and tax implications.
  5. The Company, from time to time and as often as it deems appropriate, may issue material (‘the Material’), which contains information including but not limited to the conditions of the financial market, posted through its website and other media. It should be noted that the Material is considered to be marketing communication only and does not contain, and should not be construed as containing, investment advice and/or an investment recommendation and/or, an offer of or solicitation for any transactions in financial instruments. the Company makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any employee of the Company, a third party or otherwise. The Material is not prepared in accordance with legal requirements promoting the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. All expressions of opinion included in the Material are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of the Company.
  6. The client understands that no physical delivery of a CFD’s underlying instrument (or reference instrument) that he/ she traded through his/ her trading account shall occur.
  7. The Client accepts that the Company is the only execution venue, which is a non-regulated market.
  8. The Client may trade in his/her trading account from 00.00.01 (GMT+3) on Monday to 00.00.01 (GMT+3) on Friday.
  9. It should be noted that trading of certain financial instruments occurs during specific timeframes; the client is responsible for looking at the contract specifications of such instruments for further details, prior to trading. The client shall be notified of any Company holidays through the internal e-mailing system.
  10. The Company in entitled to refuse the provision of any investment or ancillary service to the client, at any time, without being obliged to inform the client of the reasons to do so in order to protect the legitimate interests of both the client and the Company.
  11. The Client is entitled to receive support services related to the Service from the Company.
  12. The Company may change or terminate the provision of the Service and support due to business or technical reasons.

Article5(Caution and Disclamer when in use)

  1. A Client who has an account opened in the Company shall have unlimited use of the EA that the Company provides free of charge. However, the use of account other than our account or the accounts other than permitted by our Company is prohibited.
  2. When performing a combination of the EA, it shall be used at the Client’s own risk. The Company shall bear no responsibility to the losses from the use of multiple EA (our EA, including the same logic, and other commercial EA, self-made EA, including all of the EA) due to malfunctions that occur, all responsibilities belong to the Client himself.

Article6(Notification of the Changes in the Information)

  1. In case where a change in the information of the Client’s own name, address, telephone number, e-mail address, to the bank account of the other company that you are using where we deliver information has occurred, an immediate notification to the Company shall be done (the change in the screen management of member registration information and or modification the Client wants to change or modify).
  2. The Company does not have the obligation to change in replacement of the Client.
  3. In the unlikely event the Client is no longer able to log in, it is possible to apply the form of the password reminder for delivering a password to the registered E-mail, and the Client will be able to retrieve the password. Since the Company does not bear any responsibility such as password leakage due to the use of this feature, the Client shall use at his/her own risk when using the Service.

Article7(Prohibition of the Transfer of rights)

  1. With regards to the Client’s ID issued by our Company, as a general rule, it is prohibited to lend or sell or transfer it to the third party.
  2. It is assumed that the Client has the responsibility with the ID management, all the actions done by using the ID, the Client who is registered for that ID has the full responsibility. (In the unlikely event that a leak of the Client’s ID to the third person has occurred, please contact the Company immediately).
  3. Once registered, ID’s registration continues, as long as the service continues.
  4. The Company will identify the Client by ID.

Article8(Management of Password etc)

  1. For the password that the Company issued to the Client, the Client shall deal with a sufficient duty of care so as not to disclose or leak this to the third party.
  2. It is assumed that the Client bear the responsibility for any deficiencies of Password management, usage malpractice, infringement and responsibility by the use of a third party.
  3. We will send you a confirmation e-mail at the time of various procedures to the e-mail address you registered. In the unlikely event that a third party carries out unauthorized access to the e-mail address, such as approval of various procedures, any damages or liability shall be borne by the Client. Clients are requested to strictly manage with sufficient duty of care.

Article9(Handling of personal information)

  1. If the Company obtained the personal information of the Client through the operation of this Service, the Company only uses the personal information for its purposes after getting the consent from the Client in advance. The Company shall not use for other purposes without prior consent from the Client. Also, the Company shall take into consideration the management care and utilization of personal information so as not to impair the benefits of the Client.
  2. he purpose of the Company to obtain personal information from the Client are as follows unless otherwise indicated, the Client will agree about the purpose of use.
  3. ・For providing identification and various contact matters of the Clients of this service.
    ・To use as marketing data for the purposes of the Company's business operations and our service improvement
    ・For guidance and advertising information regarding services and other services provided by the Company

  4. he Company, unless it corresponds to the following items, will not disclose or provide to the third parties, without the consent of the Client.
  5. ・ If it is based on the laws and regulations.
    ・In case it is appropriately recognized to provide personal information as requested by the court of law or administrative agency.
    ・If it is appropriately recognized to provide personal information for the protection of the public life, body or property of the Client.
    ・The Company, with regards to the required scope for the achievement of the preceding purposes, in case the handling of the all or part of the personal information is entrusted to the contractors.
    ・If the personal information is provided in accordance with the succession of business joint venture or other reasons
    ・And other, as a generally accepted idea, if the disclosure or provision of personal information is found appropriate

Article10(Consent of information delivery by email)

  1. It is possible to deliver information by email regarding main service against the Company or subcontractors
  2. If the Client wishes to stop mail delivery from the Company, please contact from here. In addition, in case the Client wishes to stop mail delivery, the Company will be allowed to perform the deletion of the registration information (account).

Article11(Notification Method to the Client)

  1. The Company shall be able to perform by the method that allows notification or announcement and appropriate notification by the other company through E-mail against the Client (like the notices in the Client's My Account).
  2. It is assumed that based on the preceding paragraph, the notification email sent by the Company to the registered email address of the Client has reached the Client.

Article12(prohibition acts of Clients)

In order to use this Service, Clients must not have the acts listed below. If the following acts are found, the Company might unconditionally stop or remove the use, and may also freeze the reward. It shall be processed by a legal action in some cases. The judgment about the presence or absence of prohibited acts is done in the Company. It is assumed that it does not require any explanation of the content and rationale to the Client.

  1. The act of the registered Client as a Client who does not exist
  2. The act of a person to use other than the account holder
  3. The act of using one account with multiple names
  4. In the Client registration, the act to be registered in the state of omissions by false statements, clerical error, or intended to report matters.
  5. In the type of one registration, the act of the same person having two or more accounts (except when the Company has recognized special case)
  6. Regardless of the intentional negligence, the act to interfere with the Company's operation.
  7. The act of infringement of the Company and copyright and other rights of subcontractors
  8. The act that beget disadvantages by slandering or damaging the honor of the Company or a third party.
  9. Acts of copyright such as other intellectual property rights, of moral rights such as portrait rights, infringement of other legal rights or worthy of protection rights, or any act in violation of the relevant laws and regulations.
  10. Act of infringement of a third party's privacy.
  11. Illegal or act of suspicious activity
  12. Trade acts that are regarded as inappropriate at our discretion.
  13. Acts of depositing into two traders (or multiple traders) and doing cross trade (the same currency pairs, also including highly correlated currency pairs).
  14. Acts of cross trading with multiple accounts of the Company (the same currency pairs, also including highly correlated currency pairs).
  15. Conducting repeated deposits and trading at the same time with a third party, and conducting withdrawals at the same time.
  16. Trading regarded as malicious that were aimed the blind spot of providing systems and services.
  17. During economic indicators, such as announcement of American employment statistics, as well as government and central bank intervention, transactions regarded as malicious aimed only at the timing of rapid market changes.
  18. Trading by huge number of Lots without prior notice.
  19. Acts to be registered with false contact or third party contacts
  20. Acts misleading to the judgment of consumers, or the act when the Client’s judgment is determined undesirable and the Company have to do the judgment
  21. The act to be registered without the consent of such legal representative at the time of application of either incompetent individual or quasi-incompetent person.
  22. The act of Client registration under the age of 18 years old.
  23. Acts of anti-social behavior and acts appropriately prohibited by the Company or violations of laws and regulations.
  24. he act of registration of an anti-social person, ex-convict, and violators of laws and regulations and appropriately prohibited by the Company.

Article13(About input writing and data upload)

  1. Data of Clients that have been uploaded in this Service will not be returned.
  2. If the Client has unsubscribed, his/her data that has been uploaded in this Service will be discarded by the Company.

Article14(Client Money)

  1. Unless otherwise indicated, the Company will deposit any Client Money in one or more segregated account(s) held with an institution, separated from the Company’s money; this means that Client Money is treated as belonging to the Client and under no circumstances the Company will use Client Money, at any time, to meet any of its obligations. The Client Money will be pooled with money belonging to other Clients so an individual Client will not have a claim against a specific sum in a specific account, in the event of insolvency. A Client’s claim will be against the Client Money pool in general. the Company will exercise all due skill, care and diligence in the selection, appointment and periodic review of the institution where the Client Money is deposited. It should be noted, that segregated account(s) will be established, maintained and operated according to the applicable rules and regulations. The Company will give instructions to the banking institution(s) regarding the transfer and movement(s) of the Client Money. If the Client has an Open Position the Company reserves the right, at any time and at the Company’s sole discretion, to set-off any unrealised losses incurred in respect of an Open Position against any of the Client Money that is held by the Company to the Client’s credit. In effect, this means that the Company based on the conditions referred to above may transfer any part of any unrealised losses from a banking institution to an account of the Company. At the same time, the Company may transfer any unrealised profit incurred as a result of an Open Position from a Company account to a Client Money account held in a banking institution.
  2. The Company shall not be responsible for the solvency, act(s) or omission(s) of any banking institution with which Client Money is held.
  3. The Company is not obliged to pay interest to the client for the Funds deposited.
  4. As long as the margin remains in the client account, the client agrees that the Company has the right to transfer ownership of the client’s margin from the client to the Company, to be kept by the latter as security, and be returned by the Company to the client on completion of the client trade(s). In this case, the margin will be considered as debt due by the Company to the client and not as client money, therefore it could be used by the Company subject to the repayment obligation. Irrespective of the above, the balance and equity of the client account(s) remain unaffected and the client may normally continue his/ her trading and/ or other activity.
  5. Subject to any restrictions referred to in this Agreement regarding the operation of the vault, the client has the right to withdraw to their vault any part of the Funds equal to the free margin that is available in the relevant trading account provided that there are Funds available.
  6. The client accepts that the Funds shall be deposited in his/ her vault on the value date received by the Institution, net of any transfer fees or other charges incurred by the Company that are imposed by the Institution (or intermediary involved in the process) that holds the Funds.
  7. The client accepts that the Funds shall be deposited in his/ her vault only if the Company is satisfied that the sender of the Funds is the client or his/ her authorised representative; if the Company is not satisfied as to the above then the Company has the right to reject the Funds and return them to the remitter net of any transfer fees or other charges incurred by the Company, using the same transfer method as the one through which it originally received the Funds.
  8. The client accepts that withdrawal of any part of the Funds shall be concluded using the same transfer method and the same remitter as the one which the Company originally received the Funds from; under such circumstances, the Company shall return the part of the Funds requested net of any transfer fees or other charges incurred by the Company.
  9. The Company reserves the right to decline a withdrawal that the client requested using a specific transfer method and has the right to suggest an alternative.
  10. If, at any time, the Company is not satisfied with the documentation provided by the client in relation to the withdrawal/ deposit, the Company reserves the right to reverse to the remitter any part of the Funds net of any transfer fees or other charges incurred by the Company, using the same transfer method as the one through which it originally received the Funds.
  11. The client accepts that the Institution may reverse any part of the Funds, for any reason; as a result, the Company shall immediately reverse the respective amount from the trading account net of any transfer fees or other charges incurred by the Company, using the same transfer method as the one through which it originally received the Funds. The client accepts that this may result to a negative balance in the trading account.
  12. The client accepts that any requests that relate to the administration of the trading account shall be made through the Company Client Portal (www.gemforex.com/user/)
  13. The Company shall take all reasonable steps to ensure that the client is informed regarding the progress of any requests referred to in the ‘Client Money’ section, specifically in relation to the expected processing time and the need for any, or any further, documentation that if not in place may delay the processing.
  14. If the client’s trading account is inactive for 6 months, the Company reserves the right to charge an account maintenance fee of USD15 (or currency equivalent) in order to maintain the trading account open.
  15. If the client’s trading account has Funds of less than USD15 (or currency equivalent), the Company reserves the right to close the account, after notifying the client accordingly, and charge a relevant fee.
  16. After the first 6 months of inactivity, the Company maintains the right to charge an account maintenance fee of USD5 per month for every month of inactivity.
  17. The client can be informed about the typical processing times of their deposits/ withdrawals through the Company’s official website.
  18. The Company reserves the right to request additional information and/or documentation to satisfy itself that the client’s request concerning their deposits/ withdrawals is legitimate. In addition, the Company reserves the right to reject such a request if it deems that this may not be legitimate. The client accepts that under such circumstances there may be a delay in processing the request.

Article 15 (Charges)

  1. Prior to trading CFDs the client needs to consider any applicable charges such as spread(s), commission(s), and swap(s). The client is solely responsible for requiring clarifications from the Company in relation to the above, if necessary.
  2. The client should note that not all charges are represented in monetary terms (for example, charges may appear as a percentage of the value of a CFD); therefore, the client needs to ensure that he/ she understands the amount that the percentage amounts to.
  3. The Company reserves the right to change, from time to time, any of the charges applicable to clients when trading financial instruments without prior written notice to the latter; the most up-to-date information shall be found online at www.gemforex.com
  4. The client should note that any applicable charges shall be instantly deducted from his/ her trading account.
  5. The applicable spreads (which include the Company’s mark-up, if applicable) and commissions charged when conducting a trade are available online at www.gemforex.com/tradecondition/fx/spread
    (Swap or Finance Fees)
  6. Swap or finance fees refer to the interest added or deducted for holding an open position overnight.
  7. Depending on the position held and the interest rates of the currency pair involved in a transaction the client may either be credited or debited with a financing fee; the operation is conducted at 23:59 server time and the resulting amount is automatically converted into the client’s balance currency.
  8. From Monday to Thursday swap is charged once and from Friday to Saturday swap is charged in triple size (to cover for the costs of carrying the trade over the weekend). It should be noted that the Company charges its own interest; the rollover interest rates of the Company are based on the overnight rate provided by Bloomberg; the Company updates such rate as often as it deems necessary. It should also be noted that if there is a market for a particular instrument over the weekend, then swaps will only be charged once on Friday, as well as once on Saturday and Sunday.
  9. More information about swaps can be found at www. gemforex.com/tradecondition/fx/swap

Article16(Temporary suspension of the Services)

The Company, by reasons mentioned below, can temporarily suspend the main service without prior notification to the Clients.

  1. In the case of system maintenance.
  2. In case of fire, flood and by reason of natural disaster where we can not provide the service such as an earthquake.
  3. In case the Company is determined to be incapable of providing smooth delivery of service.

Article17(Change in specification of main service etc)

The Company can make changes in the specification of the main service, etc. even without prior notification to the Client.

Article18(About Deposits)

The Company does not accept any deposits from a third party. When the Client makes a deposit, it is required that the deposit comes from an account in the same name as the trading account. Funds sent from a third party will be refunded immediately without exception. In addition, in order to deposit to the trading account, the Company will accept payments only from the specified payment method. When the Client logs in to My Account, click “Deposit” from the menu and choose the method that he/she wishes to use. Then, proceed to the necessary steps and confirm the details of the deposit to complete the transaction.

Article19(About Withdrawal)

The Company does not accept any withdrawals to a third party. When requesting a withdrawal, the Company will accept only domestic financial institution accounts of the resident of the country or with nationality that is the same as the account holder.
If the Client requests a withdrawal under a third party name, it will be rejected. In addition, in order to withdraw from the trading account, the Company only accept the specified withdrawal method. After logging in to My Account, click "Refund" from the menu in My Account. Please select the desired withdrawal method. Please proceed to the completion of withdrawal application after confirming the necessary steps and details on that. In addition, the same amount of funds as the Client's investment funds are kept in a separate account so that the Client can conduct transactions with peace of mind, and withdrawals can be made directly from the account for faster and smoother transactions. The application for withdrawal shall be made only to those who have submitted the documents accompanying the opening of the account.

Article20(Completion of the Contract)

  1. As described in Article 3.3.3, after receiving an application for Client registration from the designated registration form at [www.gemforex.com], the Company will send a confirmation e-mail to the Client, and the contract for this service will be concluded when the Client receives the e-mail containing the transaction account number, etc.
  2. Registered Clients are deemed to have agreed to these Terms of Use.
  3. The partner (IB) shall agree to this Agreement and separately determined special partner and Terms of use and register and submit the necessary documents. At the time it is approved as a partner of the company and partner (IB), the Company will assume that the Client has entered the contract and complete.

Article21(With respect to cancellation, return of goods and repayment)

  1. The Company cannot perform refund and any responsibility for the loss incurred from trade dealings by the Client who opened an account. It shall be assumed that everything is under the judgment and responsibility of the Clients.
  2. In cases where it falls under the prohibited act of a Client, there are cases where it is not possible to grant withdrawal, and the Client shall not appeal to it. Also, in that case, we will refund the principal you deposited. However, in the case of discovery the principal is gone, refund processing cannot be done because the principal is already 0 yen. In this case, the amount of profit made by trading in bonus amount will not be principal.
  3. In the partner (IB), on which the company recognized a trouble associated with the promotion of service, where the case exceeds 5 cases between 30 days, the reward will be frozen and will maintain in this state until the cause and the commitment to prevent the recurrence becomes clear.
  4. In the Partner (IB), if at the company’s promotional activities of the service, it shall be unlawful and in the opposite of the public order and morality, or if those that conflict with these Terms and Conditions are deemed the reason for trouble, we will delete the IB’s registration in helping our advertising activity and after confiscating the IB reward, we will unconditionally stop or remove the use. In some cases, it shall be processed by a legal action.
  5. The settlement of a Client within 5 minutes via Partner IB is not part of the reward.
  6. There is a possibility of exemption from the reward after a detection of the transaction from violators of Terms of Use via Partner (IB).

Article22(About dealing with loss compensation cancellation at the time of withdrawal)

The Company prohibits malicious trading abusing the provided bonuses and negative balance protection services.
Also, based on Article 12, 13, 14 of the Terms of Use, we prohibit acts of depositing into two companies (or multiple companies) and arbitraging or arbitraging within multiple accounts in GemForex.
If we judge that it was traded by these acts using the deposit bonus,The withdrawal amount will be the amount obtained by deducting the loss compensation amount (the amount we paid by our negative balance protection) at the time of application for withdrawal.
Regarding this judgment, it will be decided by our inspection team.
There may be differences with the intention of the customer, but there is a case where we are allowed to enforce when there is doubt.
We hope you would conduct your dealings understanding this beforehand.
Since you agree to the Terms of Use and Guidelines when opening an account,It assumed that you agreed to the above items at the time the trade started.
Please note that we will not respond to inquiries after execution.

Article 23 (Disclaimer/Liability)

  1. The Company shall always conclude the Client's transactions in good faith.
  2. The Company shall not be liable for any act or omission of any natural or legal person who has provided information to the Company in connection with the execution of the Client's financial instrument transaction, unless such act or omission is the result of the Company's negligence or fraud.
  3. The Company shall not be liable for any loss of opportunity due to a decrease in the value of the Client's financial instruments transactions, regardless of the cause thereof, unless such loss is a direct result of the Company's intentional acts or omissions.

Article 24 (Indemnity)

  1. The Client shall indemnify the Company or compensate the Company upon request for any costs incurred due to (i) the Client's breach of the Service Agreement or (ii) any false or misleading information provided by the Client to the Company.

Article 25 (Duration of Agreement)

This Agreement shall remain in effect indefinitely from the date of execution of this Agreement until termination or default.

Article 26 (Modification and Amendment of the Service and this Agreement)

  1. The Company reserves the right to modify any part of the Agreement from time to time, particularly if the Company determines that such modification is necessary in response to an announcement by a competent regulatory authority, in which case the Company will notify the Client in writing or through the Company's website as appropriate and shall have the right to accept or reject the modification. In such circumstances, the Client shall be notified in writing or through our website from time to time and shall have the right to accept or reject the changes. The Client's consent is not required for the changes to take effect immediately.

Article 27 (Termination and Default of Contract)

  1. The Client shall have the right to terminate the Agreement by sending a notice by registered mail to the Company's registered address or by sending an e-mail to the Company's designated recipient within fifteen (15) business days after the announcement of the changes in accordance with the preceding "Modification and Amendment of the Service and this Agreement", provided that there are no open positions traded in the relevant trading account and that the Client has no outstanding obligations to the Company.
  2. The Company may terminate this Agreement by giving the Client at least seven (7) business days' prior notice by e-mail stating the date of termination.
  3. The Client has the right to terminate this Agreement immediately by notifying the former by e-mail when Section 28.4 below becomes effective.
  4. The Company shall immediately terminate this Agreement in the following cases.

    ・In the event of a breach of any part of the Agreement by a third party on behalf of the Client.
    ・Any application, order, resolution or other announcement relating to bankruptcy or winding up proceedings involving the Client.
    ・Client's death.
    ・In the event that the Client causes the Company to engage in any type of fraudulent activity.
    ・In the event that any of the prohibited acts in Article 12 are committed.

  5. Termination of this Agreement does not mean that the Client's liability will be extinguished. The Client shall continue to be obligated to pay to the Company any amounts attributable to the Company or costs incurred by the Company as a result of the termination of this Agreement. The same shall apply to any damages caused by the arrangement or settlement.
  6. Upon termination of the Agreement, the Company shall immediately remit to the Client an amount equal to the available amount in the relevant Transaction Account minus any unpaid amount owed by the Client to the Company.
  7. In the event that paragraph 24.4 above becomes effective, the Company reserves the right to cancel any transaction that is deemed to be against the interests of the Company or the Client.

Article28(Approval)

The Client shall also approve the following matters.

  1. Partner (IB) system has become a standard feature.

Article 29 (Confidentiality and Personal Data Protection)

  1. The Company is responsible for any client’s personal data kept by the Company according to the processing of Personal Data (Data Protection Act 2017).
  2. The Company shall not disclose to a third party, any of the client’s confidential information unless required to do so by a regulatory authority of a competent jurisdiction; such disclosure shall occur on a ‘need-to-know’ basis, unless otherwise instructed by, inter alia, any governmental body, subject to the provisions of applicable legislation. Under such circumstances, the Company shall expressly inform the third party regarding the confidential nature of the information.
  3. The client accepts and consents that the Company may, from time to time, contractually engage companies for statistical purposes in order to improve the Company’s marketing; as a result, some or all of the client’s personal data may be disclosed on an anonymous and aggregated basis only.

Article 30 (Recordings of Telephone Calls)

  1. The content of any telephone call (‘the Telephone Record’) between the client and the Company may be recorded and saved as electronic record. The client agrees that the Company has the right to use the Telephone Records as it deems necessary, including but not limited to instances when a dispute arises between the client and the Company.
  2. All instructions received from the client, during a telephone call, in relation to trading financial instruments shall be conclusive and binding.
  3. The Company may provide copies of such recordings of telephone calls to a regulatory authority of a competent authority, without informing the client.

Article 31 (Conflict of Interest)

  1. The client accepts that a conflict of interest may arise when the interest of the Company competes or interferes, or appear to compete or interfere, with the client’s interests under the Service Agreement.
  2. Specifically, the Client agrees to the following

    ・The Company may execute at the same time instructions by different clients that are opposite to one another;.
    ・The Company may establish business, including but not limited to trading relationships, with other issuers of financial instruments and the Company may have a financial interest in such instruments;
    ・The Company may pay commission or any other related fee to a third party as a result of introducing the client (under such circumstances the client shall be notified accordingly).
    ・For further details, please read the Conflicts of Interest Policy available online at: www.gemforex.com.

Article 32 (Consent to Direct Contact)

  1. The client consents that any communication received by the Company, from time to time, in relation to the Service Agreement or any other communication in relation to marketing does not breach any of the client’s rights under the Service Agreement.

Article 33 (Representations and Warranties)

  1. The Client represents that he/she has not been coerced or otherwise persuaded to enter into this Agreement.
  2. The Client declares that he/she is at least 18 years old (if the Client is a natural person) or has full capacity (if the Client is a legal entity), and therefore the Client is able to enter into the Agreement.
  3. The Client agrees that the Company has the right to revoke the Power of Attorney governing the relationship between the Client and the Client's authorized representative at any time without prior written notice.
  4. The Company is not engaging in any action(s), which may be deemed to constitute a solicitation of financial services. The client declares that he/ she is fully aware of any requirements and implications, including but not limited to any restrictions or reporting requirements, set by his/ her local jurisdiction in relation to entering the Service Agreement and any trading he/ she undertakes with the Company and further undertakes to comply with all such applicable requirements.
  5. The client declares that any trading in financial instruments is proportional and/ or reasonable to his/ her specific financial situation and that independent financial advice has been sought, or will be if necessary.
  6. The client accepts that the trading of any transactions in financial instruments shall occur only through the the Company trading platforms(s) available at any given time to the client.
  7. The Client accepts the contract specifications for each financial instrument available online at www.gemforex.com. The Client also accepts that the Company reserves the right to change the contract specifications without prior written notice.
  8. If the Client is more than one natural or legal person, the Client's obligations and responsibilities under this Agreement shall be joint and several. In the foregoing circumstances, all communications, including, but not limited to, notices and orders, shall be construed as having been delivered to all natural or legal persons comprising the Client.
  9. The Client agrees that the Company shall take all reasonable steps to ensure compliance with applicable rules and regulations, and such reasonable steps shall be binding on the Client.
  10. The client accepts the fact that the Company shall have a lien on any amount that is deposited in his/ her trading account that is due for payment by the former to the latter. Although the Company does not need the client’s consent in order to exercise the lien the former shall notify the latter of its intention, accordingly.
  11. The client represents that if an amount is due for payment to the Company, the later shall be entitled to debit the client’s trading account, accordingly.
  12. The client consents that if his/ her trading account is inactive for six months and its balance is less than USD 15 (fifteen), or currency equivalent, then the Company may at its discretion disable the trading account. The client may enable his/ her trading account, at any time; the status of a trading account can be viewed through the Client Portal.

Article 34 (Force Majeure Events)

  1. The Company shall, in its reasonable opinion, determine that a force majeure event occurred; under such circumstances the Company shall take all reasonable steps in order to inform the client.
  2. A force majeure event is as an event or circumstance, including but not limited to any natural, technological, political, governmental, social, economic, act of god or similar event or circumstance that occurred after a transaction in a financial instrument occurred and such event or circumstance has not been anticipated at the date of entering into the transaction. In addition to the above, a force majeure event may include instances of illegitimate actions against the Company servers that may be outside the control of the client or the Company.
  3. If the Company determines that a force majeure event occurred, without prejudice to any other rights of the client under the Service Agreement, the Company may:

    ・Increase margin requirements ; and/ or
    ・Increase the spread ; and/ or
    ・Decrease leverage; and/ or
    ・Close-out, in good faith, any open positions at a price that the Company considers reasonable. ; and/ or
    ・request amendments to any closed positions. ; and/ or
    ・Suspend the provision of investment and/ or ancillary services to the client ; and/ or
    ・Amend any of the content of the Service Agreement on the basis that it is impossible for the Company to comply with it; and/ or

Article 35 (Governing Law and Jurisdiction)

  1. The client accepts that the Service Agreement and any investment and/ or ancillary services provided under it by the Company shall be governed by the law of the relevant jurisdiction.
  2. Any proceedings and their settlement that may involve the Company and the client shall take place in the competent courts of the relevant jurisdiction.

Article 36 (Miscellaneous)

  1. Unless specifically instructed otherwise any notice, instruction, request or other communication shall be given by the client to the Company in writing and shall be sent to the Company’s registered office address, which appears on the ‘Contact Us’ page. Any notice, instruction, request or other communication shall be effective when received by the Company.
  2. The client shall not, under no circumstance, assign or transfer any of his/ her rights and/ or obligations under the Service Agreement to another natural or legal person.
  3. The Company may, under certain circumstance, assign or transfer any of its rights and/ or obligations under the Service Agreement to another natural or legal person, in whole or in part provided that such natural or legal person agrees to abide by the Service Agreement.

Article 37 (Unenforceability by Court)

If any part of this Agreement is determined to be unenforceable by a court of competent jurisdiction for any reason whatsoever, such part shall be severed from this Agreement, and this Agreement shall be valid and enforceable except for the severed part.

Article 38 (FAQ)

  1. Any questions regarding this Agreement should first be directed to the Customer Support Department.
  2. Customer Support Department
    E-mail: support@gemforex.com
    Telephone: (+84)-28- 62561119

Article 39 (Other Contact Information)

  1. Dealing Department Telephone: (+357) 25 262829
  2. Compliance Department Email: compliance@gemforex.com

Article40(Cancellation or withdrawal from contract)

If the Client wishes to cancel or withdraw from the service, the Client must submit a request using the withdrawal request form. Once the withdrawal request is received, the Company will process the withdrawal within one week. The account balance must be withdrawn by the specified method under the responsibility of the account holder before the cancellation or withdrawal request is made. In addition, since the account itself will be destroyed when the withdrawal process is performed, the account balance will be removed. If a partner (IB) makes an application for withdrawal with unpaid sales of less than 5,000 yen, it is assumed that the receipt of the sales has been abandoned at the time of application. There is no fee for cancellation or withdrawal.

Article41(Service and Support time)

The service hours for account opening, partner (IB) acceptance, and ID issuance are as follows. Account opening, partner (IB) acceptance, and issuance of IDs, etc. are available 24 hours a day. Inquiries by e-mail and telephone will be handled between 10:00 and 17:00 every day, excluding weekends and holidays.

(Revised November 1, 2021)