FOREX Services definition
Examples of FOREX Services in a sentence
Such Confirmation Email will include details of applicable exchange rates (in case of FOREX Services) and will form part of the legal contract between you and GCEN in respect of the relevant Transaction.
In the event of any significant exchange rate fluctuations occurring between the date on which a particular Transaction for FOREX Services is executed and (if different) the due date for payment of the fees and charges relating to such Transaction, we may require you to provide additional funds to maintain the value and level thereof at the stipulated percentage rate on the original Transaction note.
We will not safeguard funds that relate wholly to our FOREX Services.
GCEN has the right to cancel any Transaction for FOREX Services at any time, where GCEN becomes aware of any pricing error in providing the Client with the correct exchange rate for that Transaction, and the Client is or should reasonably be aware of such error, by providing the Client a full refund of any amount that may have been charged (including any fees or charges) to the Client for the purposes of processing the Transaction its original currency.
The FOREX Services are not regulated by the FCA or any other regulator, nor is GCEN required to be regulated in order to provide the FOREX Services.
The FOREX Services are not subject to the jurisdiction of the Financial Ombudsman Service.
The FOREX Services are also not subject to the jurisdiction of the FOS (see section 14.3).
We will not segregate funds relating wholly to the FOREX Services, nor will we ensure that they are covered by an appropriate insurance policy or comparable guarantee, as we are not legally required to do so.
This means the FOREX Services are not afforded the protections provided by the Payment Services Regulations, including but not limited to safeguarding under regulation 23 of the Payment Services Regulation.