TERMS & CONDITIONS

CUSTOMER TRADING AGREEMENT

This agreement and any relevant documents (Trading Benefits Terms and Conditions, Beneficial Owner Statement, Risk Disclosure) constitute the Client Trading Agreement (collectively referred to as the «Agreement»).

 

Between

Black Shore Limited (hereinafter, the “Company”), a company registered under the laws of the CALLE SABADELL 6 ESQ CALLE BADALONA 46890 Spain 959800Y8SSDZNL0W2K38 , operating under the trade name GRUPO VERTEX (www.vertexglatam.com) (hereinafter referred to interchangeably as “Company”, “we”, “us”, or “our”)

And

Any End User (the “Customer”). Each, a “Party”, and together, the “Parties”. By signing this Agreement, the Customer represents that they have read, understood, and accepted the information under the heading “Trading Benefits Terms and Conditions”, which forms part of this Agreement and is available on the GRUPO VERTEX website (hereinafter, the “Website”).

 

WHEREAS GRUPO VERTEX provides investment services through a trading platform (the “Trading Platform”) that includes Contracts for Difference (CFDs), spot and forward foreign exchange contracts, currency swap transactions, and other services that GRUPO VERTEX may occasionally offer (the “Services”).

Whereas the Client wishes to open an account with GRUPO VERTEX to use the Trading Platform and carry out investment transactions with GRUPO VERTEX.

 

THEREFORE, AND IN CONSIDERATION OF THE FOREGOING, THE PARTIES AGREE AS ​​FOLLOWS:

 

General Provisions

1.1. The Services may involve leveraged transactions, requiring the Client to deposit funds to guarantee its obligations under this Agreement (“Margin of Safety”).

 

1.2. Direct Relationship: Unless otherwise agreed in writing, GRUPO VERTEX and the Client enter into this Agreement as principal parties, and GRUPO VERTEX will not accept an undisclosed or unapproved principal acting through the Client. In connection with such principal, the Client agrees to provide GRUPO VERTEX with its identity, personal information, and any other information that GRUPO VERTEX may require.

1.3. Information Services: Occasionally, GRUPO VERTEX may provide the Client with access to various information and content through its Website or Trading Platform. In addition, GRUPO VERTEX may offer links to third-party websites containing further information. This information is provided «as is» and is for guidance only. Use of such information is at the Client’s own risk. To the fullest extent permitted by law, GRUPO VERTEX does not guarantee the accuracy, quality, or completeness of the information and will not be liable for any action taken by the Client based on this information or for any loss arising from its use or the use of third-party sites linked to GRUPO VERTEX. No information provided should be construed as a guarantee of trading results.

 

1.4. No Investment Advice: The Client acknowledges that the Services do not include the provision of investment advice or personal recommendations regarding financial instrument transactions. Any information provided is solely intended to assist the Client in making investment decisions and does not constitute investment advice.

 

1.5. No Physical Delivery of Underlying Instruments: The Client understands that when trading through the Trading Platform, there is no physical delivery of currencies or underlying instruments and that transactions are settled in cash or closed through an offsetting position. Therefore, open trades will always be closed with GRUPO VERTEX, and the Client’s account will be credited or debited according to the profit or loss obtained in the transaction.

 

1.6. Errors: Quotes provided by GRUPO VERTEX, whether through third parties or otherwise, may contain errors. GRUPO VERTEX reserves the right to correct the balance of the affected account following a transaction with a quote error. Any dispute arising from such errors will be resolved based on the fair market value of the relevant instrument at the time of the error.

 

1.7. Market Fluctuations: The Client understands that the foreign exchange market is subject to abrupt changes due to news, acts of war, terrorism, pandemics, power outages, strikes, civil unrest, trading trends, political developments, and other factors beyond the control of GRUPO VERTEX. In such cases, GRUPO VERTEX reserves the right to impose trading limits, cancel or suspend transactions, or close accounts at its sole discretion.

 

1.8. Index Trading: The Client acknowledges that, in the case of CFDs, GRUPO VERTEX will open the market within 5 minutes of the corresponding market opening. GRUPO VERTEX reserves the right not to accept trades in such instruments during the first 5 minutes of the trading day and to cancel trades placed during this period, at its discretion.

 

1.9. Risk Disclosure: The Client understands that the Services offered include high-risk products that are not suitable for all investors. The Client accepts that, under no circumstances, will they be able to recover from GRUPO VERTEX any losses incurred as a result of using the Services.

 

Customer Instructions and Order Execution

2.1. Credit card deposits have a minimum of USD 300. The Client may provide oral or written instructions to GRUPO VERTEX to place orders. Written instructions may be given by letter, fax, the Website, or electronic means; oral instructions may be given in person or by telephone, although GRUPO VERTEX may request written confirmation. Any instruction given by a means other than the Electronic Trading Platform will be transmitted to the Platform and processed as if it had been received electronically. The Client accepts the risk of errors in instructions given by other means. Once an instruction has been given, it cannot be withdrawn or modified without the express consent of GRUPO VERTEX.

 

2.2. The Client must notify GRUPO VERTEX of the persons authorized to give instructions on its behalf, providing the names and signatures of said persons in writing. Any authorization may be revoked by the Client by written notification, but the revocation will only be effective upon confirmation by GRUPO VERTEX.

 

2.3. The Client shall be responsible for all orders and the accuracy of information transmitted via the Internet using their name or personal code. Such transmission shall not create a binding contract between GRUPO VERTEX and the Client until GRUPO VERTEX accepts or acts upon it.

 

2.4. If GRUPO VERTEX does not receive instructions to settle open positions at the close of a business day, GRUPO VERTEX is authorized, but not obligated, to renew such orders for the next business day.

 

• 2.5. In the event of renewal, the Client will be charged a fixed rollover fee for the current exposure as of 00:00 GMT, regardless of interest rate differences. VERTEX GROUP will not be liable for losses due to errors in instructions; communications transmitted over the Internet; failure to notify of revocation of authorization; or actions taken based on instructions transmitted using the Client’s name or identification.

 

• 2.6. Withdrawal Instructions: Withdrawals via bank transfer have a minimum of USD 25. The Client may withdraw available funds after fulfilling the following conditions: (1) Providing the required documents to GRUPO VERTEX; (2) Submitting a Withdrawal Request through the Trading Platform; and (3) Not holding any open positions in the trading account.

 

• 2.7. GRUPO VERTEX will process withdrawals within 120 business hours after meeting the conditions and receiving approval from the Back Office Department. Transfer times may vary depending on the account type, issuing bank, intermediaries, and receiving bank. GRUPO VERTEX is not responsible for delays caused by third parties or for incorrect banking information provided by the Client.

 

• 2.8. VERTEX GROUP reserves the right to adjust any assigned trading profit in the event of a Client withdrawal.

 

• 2.9. The Client acknowledges that withdrawals may incur additional charges from third parties. The Client is responsible for paying any bank fees when withdrawing funds. VERTEX GROUP does not charge withdrawal fees. If funds are converted to another currency, exchange fees may apply.

 

• 2.10. If a withdrawal request does not meet the established conditions, it will be cancelled within 30 days and the Client may request the withdrawal again, subject to the general withdrawal terms.

 

• 2.11. The Client acknowledges that anti-money laundering regulations prohibit transfers of funds to third parties other than the trading account holder. VERTEX GROUP may require additional documentation regarding the origin of funds in accordance with applicable legislation.

2.12. The Client accepts that the costs, fees, commissions, leverage limits and trading conditions are detailed on the Website and Trading Platform and that GRUPO VERTEX may review them periodically.

 

2.13. If the Client has open positions on the ex-dividend day, GRUPO VERTEX reserves the right to close those positions at the last price of the previous day and open the equivalent volume at the first available price. GRUPO VERTEX reserves the right to adjust any unjustified profit generated by ex-dividend activities.

 

2.14. Orders: Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, and Sell Stop orders are executed at the price declared by the Client on the first available price touch. VERTEX GROUP reserves the right not to execute or to modify the order price in the event of technical failures or errors in the Trading Platform quotes.

 

Customer Declarations The Customer declares that:

3.1. You have read, understood and accept the terms and conditions of this Agreement.

3.2. Understands the risks associated with foreign exchange trading and that you may lose more than the initial margin, and is able to afford to assume such losses.

3.3. You have no legal limitations that prevent you from complying with this Agreement or any related contract.

3.4. It has obtained all the necessary consents to enter into this Agreement and, if it is an entity, it has the appropriate authority according to its organizational structure.

3.5. It is aware that for orders placed with GRUPO VERTEX, it acts as an Agent and not as a Principal on behalf of the Client.

3.6. All funds remitted as Safety Margin are free of any liens, encumbrances, or impediments.

3.7. Complies with all applicable laws, including tax and exchange control requirements.

3.8. The information provided to GRUPO VERTEX is complete, clear and accurate.

3.9. Accepts that the foreign exchange market is unregulated and will not benefit from any legal compensation scheme with respect to the Services.

 

Margin Requirements

4.1. The Client must send GRUPO VERTEX the funds necessary to cover the Safety Margin and any negative account balance. GRUPO VERTEX is not obligated to verify that margin requirements have been met before executing an order, and the Client’s payment obligations are not reduced by any failure on the part of GRUPO VERTEX to meet these requirements.

 

4.2. GRUPO VERTEX may use the funds received from the Client to fulfill its obligations to third parties and is not obliged to render accounts to the Client for any income derived therefrom.

 

4.3. The Client must deliver any payment required under a third-party contract in accordance with the instructions of GRUPO VERTEX to enable the fulfillment of its obligations.

 

4.4. VERTEX GROUP may convert the Client’s funds into another currency as it deems necessary to meet the Client’s obligations.

 

4.5. If the Client fails to meet the Margin of Safety requirements or pay any other outstanding amount, GRUPO VERTEX may close all open positions without prior notice and apply the proceeds to the payment of any outstanding amount. GRUPO VERTEX reserves the right to return funds deposited by the Client at any time, with or without reason.

 

Spread, Margin and Leverage Rates

• 5.1. GRUPO VERTEX reserves the right to modify the Margin of Safety requirements according to the deposit size, transaction size, market conditions, or other factors. GRUPO VERTEX may offer different spread rates depending on the Client’s Margin of Safety and their positions.

 

5.2. The Client is responsible for verifying their account activity and their Margin of Safety requirements, which are available upon request or on the GRUPO VERTEX website.

 

5.3. The size of a standard lot is the unit specified for each Financial Instrument traded on the Electronic Trading Platform. The Company may change the Contract Specifications at any time. The Client should verify the complete specifications of the Instrument before placing an order. The leverage ratio is assigned upon account opening and may vary from 1:2 to 1:200 depending on the account type and at the Company’s discretion. The Client may request lower leverage by contacting the Company.

 

5.4. The Company may change the leverage of the Client’s account at its discretion, temporarily or permanently, by posting on the website and/or written notification.

 

5.5. In the absence of trading activity for a period of at least three months, the Company reserves the right to apply an administrative fee to maintain the account, provided that funds are available. The fee will be detailed in the Trading Conditions on the website. If the account has fewer funds and has been inactive for three months, a lower fee may be applied and the account closed.

 

5.6. If there is no trading activity for the period specified on the website, the Company reserves the right to apply a credit-out rule and remove any trading credit available in the Client’s account.

 

Right of Pledge, Retention and Compensation.

 

6.1. GRUPO VERTEX shall have the right, at any time, to combine or consolidate Client accounts, offset account balances, or offset each balance individually. For any claim related to the Services, GRUPO VERTEX shall have a lien, lien, and set-off right over all Client assets or collateral deposited with GRUPO VERTEX.

 

Breach

• 7.1. Without prior notice, GRUPO VERTEX may close Client positions or accounts after any of the following events occur (each of which will constitute a “Default Event”):

• The Customer does not make a payment due under this Agreement.
• The Client breaches any provision of this Agreement.
• The Client maintains parallel accounts to arbitrate promotions or policies of GRUPO VERTEX.
• Death, declaration of absence or mental incapacity of the Client.
• Petition for bankruptcy or insolvency proceedings against the Client.
• Credit card chargeback by the Customer.
• Requirement to close positions by a regulatory authority.
• Need for protection from GRUPO VERTEX.
• Open positions exceed the required Safety Margin.
• Abuse of the system, arbitrage, or unethical trading practices.
• Any other breach of this Agreement.

 

7.2. If a Default Event occurs, GRUPO VERTEX may, without notice, take necessary actions such as closing operations, canceling orders, suspending accounts or limiting the Client’s access to the Trading Platform.

 

Force Majeure

8.1. Events Beyond Our Control: GRUPO VERTEX is not responsible for losses resulting from acts of God, pandemics, power outages, labor disputes, telecommunications failures, or any other cause beyond its control. In such cases, GRUPO VERTEX reserves the right to cancel or suspend its services without incurring liability.

 

8.2. Equipment Failure: VERTEX GROUP is not responsible for equipment or software failures, whether owned by it or by third parties, that prevent the operation of the Services or the execution of orders.

 

Recording of Conversations

9.1. The Client accepts that GRUPO VERTEX may record all telephone conversations between the Parties and that these recordings may be used as evidence in disputes under this Agreement.

 

Modifications

10.1. VERTEX GROUP reserves the right to modify its Trading Platform, costs, fees, trading conditions, and any guidelines or policies included on the Website or in this Agreement at any time. The Client’s continued use of the Services will be deemed acceptance of such changes.

 

Termination

 

11.1. Termination by Notice: Either Party may terminate this Agreement with at least seven days’ written notice.

 

11.2. VERTEX GROUP may terminate this Agreement immediately in the event of a Breach Event or if required by a regulatory authority, among other specified reasons.

 

11.3. The Client must close any open transactions before the expiration date. If they fail to do so, GRUPO VERTEX will proceed with closing the positions.

 

Jurisdiction

 

• 12.1. This Agreement shall be interpreted in accordance with the laws of the CALLE SABADELL 6 ESQ CALLE BADALONA 46890 Spain 959800Y8SSDZNL0W2K38 The Parties submit to the exclusive jurisdiction of the courts of the Spain 959800Y8SSDZNL0W2K38  for any dispute.

 

VERTEX GROUP is operated by Black Shore Limited, registered under the laws of the CALLE SABADELL 6 ESQ CALLE BADALONA 46890 Spain 959800Y8SSDZNL0W2K38.