Last update: Jan 7, 2024
This Agreement is between Obelisk Wealth (the "Company") and you (the "Client"), who applied to open a trading account on the Company's platform. The Agreement sets out the terms for using the platform to trade financial instruments as well as the terms and conditions of the trading account (the "Trading Account").
This Agreement, along with any other legal documents between you and the Company (collectively, the "Agreement"), outlines the terms under which the Company orders and trades financial instruments on your account on its trading platform.
Opening a trading account and using the platform is a limited license granted by the Company to you. The license is personal, non-transferable, and requires you to be over 18. By using the platform, you agree to these terms and to keep your personal and financial information up-to-date with the Company.
The Company will open a trading account for you as soon as possible after:
(i) You deposit funds into your account; and
(ii) The Company confirms that your AML/CTF (Anti-Money Laundering and Counter-Terrorism Financing) information is complete and accurate.
The Company may activate your account with limited functionality before full verification is complete, subject to additional requirements. The Company reserves the right to freeze inactive accounts or accounts that don't meet it's KYC (Know Your Customer) verification requirements. Funds held in such accounts cannot be transferred until the Company is satisfied with your compliance.
The Company acts as your principal or agent when executing transactions on your behalf. You confirm that you are acting as a principal and not on behalf of someone else.
You warrant that your engagement with the Company and your use of its services comply with all applicable laws. The Company may record phone conversations with you for record-keeping purposes.
The Company's trading platform allows for the trading foreign exchange rates, commodities, cryptocurrencies, and other financial instruments (collectively, "Financial Instruments"). The platform displays indicative quotes based on various financial information systems, which the Company represents as the most up-to-date available. Both parties acknowledge that different platforms or markets may display different quotes due to calculation methods and other circumstances.
The Company does not guarantee that the trading platform will always be available.
The Company has the right, but not the obligation, to set limits or parameters to control your ability to place orders or restrict trading terms. These controls may include order amount limits, exposure limits, price controls, verification procedures, and others.
The Company prohibits actions based on exploiting system malfunctions, errors, or arbitrage calculations.
The Company has the right to cancel any trade executed due to errors, system malfunctions, breaches of the Agreement by you, or based on the Company's records of correct market quotes.
You can view your open trades (positions) and transaction history on the platform. You are responsible for reviewing this information regularly. The Company reserves the right to correct any errors in your account balance or transaction history.
You can deposit funds into your Trading Account using the methods specified by the Company. The Company may impose minimum deposit requirements and certain limitations on deposit methods.
You can withdraw funds from your Trading Account subject to the Company's policies and procedures, including minimum withdrawal amounts, verification requirements, and processing times.
To ensure the security of your funds, Obelisk Wealth's finance department reviews all withdrawal requests from your Trading Account and applies the following conditions:
(i) A request to withdraw funds must be emailed to Obelisk and include the amount and return bank details.
(ii) Once a withdrawal request is accepted, funds will be transferred within 30 business days
(iii) If the Client has the obligation to pay any amount due to the Company the withdrawal will not be processed until the dues are cleared.
A request to withdrawal an amount of funds that would leave 25% or less of the total amount deposited in the account will be considered as an account closure.
A 30-day trial period ("Trial Period") will commence on the first business day following the date the account becomes active ("Activation Date").
During the Trial Period, either the Client or the Company may elect to terminate the account by providing written notice ("Termination Notice") to the other party via email.
If no Termination Notice is received and acknowledged by either party before the conclusion of the Trial Period, the account will automatically convert to a standard account ("Standard Account").
If a Termination Notice is received and acknowledged by either party, before the conclusion of the Trial Period, any applicable Performance Fees must be settled in full before the remaining account balance and any profits are returned to the Client. The return of funds will be processed within 30 business days of the expiry of the Trial Period.
Standard Account closure requires written notice ("Closure Notice") to be provided by the Client at least 30 business days ("Notice Period") prior to the desired closure date via email.
During the Notice Period, all outstanding Performance Fees must be settled in full.
Following the expiration of the Notice Period, Obelisk is obligated to transfer the remaining account balance in full to the Client within 45 business days ("Settlement Period").
The Client is responsible for providing accurate bank details for the settlement process. Failure to do so will require the resubmission of the Closure Notice.
The only fees associated with the service are Performance Fees, which are calculated and levied on any profits ("Profits") generated on the account.
Performance Fees are due and payable solely upon account closure ("Closure"). Performance Fees must be settled in full before the account closure process can be initiated. Performance Fees cannot be deducted directly from the account balance.
Financial trading involves a significant risk of loss. You acknowledge that you are solely responsible for all risks associated with trading Financial Instruments on the platform. The Company does not provide financial advice and does not guarantee profits.
You should carefully consider your financial situation and investment objectives before trading. You should never trade with money you cannot afford to lose.
The Company owns all intellectual property rights associated with the trading platform and its underlying technology. You agree not to reverse engineer, decompile, or disassemble the platform.
The Company may terminate this Agreement immediately upon written notice to you in case of any breach by you.
The Company is not liable for any damages or losses arising from:
The Company's liability to you is limited to the total amount invested in your Trading Account at the time the claim arises.
You agree to indemnify and hold harmless the Company from any claims, losses, damages, or expenses arising from your breach of this Agreement.
This Agreement constitutes the entire agreement between you and the Company regarding the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements.