Client Agreement / General Terms of Business
1. Introduction and Contractual Effect
These General Terms of Business (the Terms) govern the relationship between Montrock Ltd (the Company, Montrock, we, us) and each person or legal entity accepted as a client (Client, you). The Terms should be read together with the Client’s account application, any product or account schedule, the Risk Disclosure Statement, Order Execution Policy, Costs and Charges Schedule, Client Categorisation Policy, Conflicts of Interest Policy, Privacy Notice and any other document expressly incorporated into the client relationship.
No website registration, application submission or transfer of funds obliges the Company to open or maintain an account. A business relationship begins only after all required due diligence, regulatory eligibility and internal approvals are completed and the Company confirms acceptance.
2. Regulatory Status and Scope
Montrock is incorporated in Mauritius and regulated by the FSC as an Investment Dealer (Full Service Dealer, Excluding Underwriting). The Company will provide only those services and financial instruments that fall within its licence, licence conditions, approved business model and applicable law. Nothing in these Terms should be interpreted as extending the Company’s authorisation.
The Company may restrict services by jurisdiction, product, client classification, account type, risk assessment, liquidity availability, banking arrangements or legal advice.
3. Eligibility and Client Representations
A Client represents on an ongoing basis that:
- it has full legal capacity and authority to enter into the relationship;
- all information and documents supplied to the Company are complete, accurate, current and not misleading;
- funds and assets used in connection with the account are lawfully owned or controlled by the Client and are not proceeds of crime;
- it is not acting for an undisclosed third party unless the arrangement has been expressly disclosed and approved;
- use of the Company’s services is lawful in the Client’s country of residence, incorporation, citizenship and tax residence;
- it will promptly notify the Company of any material change in ownership, control, residence, regulatory status, tax status, source of funds, source of wealth or authorised persons.
4. Client Onboarding, KYC and Ongoing Due Diligence
The Company may request identification, proof of address, corporate records, beneficial ownership information, tax information, financial information, source of funds, source of wealth, information about expected transaction activity and any other evidence reasonably required for legal, regulatory, risk or banking purposes.
The Company may conduct sanctions, PEP, adverse-media, fraud, device, IP, geographic and transaction screening. It may refresh due diligence periodically or following a trigger event. A failure to provide satisfactory information may result in refusal, restriction, suspension, transaction delay or termination.
5. Client Categorisation and Appropriateness
Clients are categorised in accordance with the Company’s approved regulatory framework. The degree of regulatory protection, disclosure and assessment may vary by category and jurisdiction. Where required, the Company may assess whether a product or service is appropriate or suitable by reference to the Client’s knowledge, experience, objectives, financial position and capacity for loss.
The Client must not misstate experience or financial resources in order to obtain access to a product.
6. Nature of Services
Subject to approval and availability, the Company may provide execution and dealing services, market access and ancillary services within its permitted scope. The exact service model, execution method and contractual capacity (for example, agent or principal) will be set out in the relevant product documentation or trade confirmation.
Unless expressly agreed in writing and legally permitted, information, market commentary, research, education and platform tools do not constitute personalised investment advice, portfolio management, tax advice or legal advice.
7. Orders and Instructions
The Company may accept orders through approved channels, including an electronic trading platform, API, telephone or other authorised method. The Company may reject, cancel, delay or decline an instruction where reasonably necessary, including where:
- the account lacks sufficient margin, collateral or cleared funds;
- an instruction appears erroneous, abusive, manipulative or inconsistent with market integrity;
- a market is closed, suspended, illiquid or materially disrupted;
- a liquidity provider, exchange, counterparty, bank or technology provider is unavailable;
- execution may breach law, sanctions, licence conditions or internal risk limits;
- identity, authority or authenticity of an instruction cannot be satisfactorily established.
The Company does not guarantee that every order will be accepted, executed, executed immediately or executed at a displayed or requested price.
8. Order Execution
Orders will be handled in accordance with the Company’s Order Execution Policy. Relevant factors may include price, costs, speed, likelihood of execution and settlement, size, nature, liquidity, available venues and client instructions.
A specific instruction from the Client may prevent the Company from applying some or all of its normal execution methodology in relation to the element covered by that instruction.
Slippage, price gaps, partial fills, requotes where operationally applicable, rejections and market-impact effects may occur.
9. Margin, Leverage and Close-Out
Where the Company offers leveraged products within its permitted scope, the Client must maintain applicable initial and maintenance margin. Requirements may change at any time in response to volatility, concentration, liquidity, event risk, regulatory requirements or counterparty requirements.
The Company may reduce leverage, increase margin, restrict new positions, or close positions where margin requirements are not met. Unless the applicable product terms expressly state otherwise, the Company is not required to issue a margin call before taking protective action.
Any negative-balance treatment is determined by the relevant product/account terms and applicable law, and universal negative-balance protection is not promised.
10. Deposits, Payments and Withdrawals
Deposits and withdrawals are governed by the Payment and Withdrawal Policy. The Company may require payments to originate from or be returned to verified accounts in the Client’s name. Third-party funding may be refused or subjected to enhanced due diligence.
Where an approved payment agent or payment service provider acts on behalf of the Company, the identity and role of that provider may be disclosed in the relevant payment instructions. Use of a payment agent does not transfer responsibility for regulated investment services to that entity.
11. Client Money and Asset Protection
The treatment of client money will follow the Company’s Client Money Disclosure, applicable Mauritius requirements, contractual banking arrangements and the relevant account structure. The Company will not make claims regarding segregation, safeguarding institutions or insolvency treatment that are not supported by the actual legal and banking arrangements.
12. Fees, Charges, Financing and Currency Conversion
The Client must pay all applicable charges disclosed in the Costs, Fees and Charges Schedule or product terms. Charges may include spreads, commissions, financing, swaps, custody or data charges, currency conversion, payment charges, inactivity or administration fees where applicable.
Third-party bank, intermediary, card, correspondent, exchange, liquidity, tax or government charges may also apply and may be deducted where legally and contractually permissible.
13. Conflicts of Interest
The Company maintains arrangements to identify, prevent or manage conflicts. Where organisational arrangements are insufficient to prevent a material risk of harm, a conflict may be disclosed before the relevant business is undertaken, or the Company may decline to act.
14. Market Conduct and Prohibited Activity
Clients must not use the Company’s systems for market abuse, manipulation, insider dealing, fraud, sanctions evasion, money laundering, abusive trading practices, exploitation of manifest pricing errors or other unlawful conduct. The Company may investigate, restrict or terminate accounts and may report matters to competent authorities where legally required.
15. Technology and Platform Risk
Electronic services may be unavailable due to maintenance, telecommunications failure, internet failure, cyber incident, third-party outage, market data failure or other events. Clients are responsible for maintaining secure devices, credentials and connectivity. The Company may suspend access to protect the Client, the Company or market integrity.
16. Statements, Confirmations and Errors
Clients should review trade confirmations, account statements and notices promptly. Any suspected error should be reported without undue delay. The Company may correct manifest or demonstrable operational errors in accordance with applicable law and contractual terms, but will not retrospectively alter trades solely because a Client is dissatisfied with market movement.
17. Tax
Clients are responsible for their own tax affairs. The Company may collect tax-residency information and report information under applicable tax-information exchange regimes. The Company does not provide tax advice unless expressly authorised and agreed.
18. Communications and Recording
The Company may communicate electronically. Where legally permitted or required, telephone calls, electronic communications, platform interactions and instructions may be recorded and retained for compliance, evidential, training, security and dispute-resolution purposes.
19. Suspension and Termination
The Company may restrict, suspend or terminate an account where reasonably necessary for legal, regulatory, risk, financial-crime, operational, credit, reputational or contractual reasons. On termination, outstanding positions may be closed and amounts due may be set off or recovered as permitted by law and contract.
20. Liability and Force Majeure
Nothing excludes liability that cannot lawfully be excluded. Subject to that limitation, the Company will not be responsible for indirect or consequential loss or for loss caused by events beyond its reasonable control, including market suspension, exchange action, governmental action, war, cyberattack, telecommunications failure, banking disruption or failure of an external provider, except to the extent liability arises from the Company’s own fraud, wilful misconduct or other liability that cannot be excluded.
21. Complaints
Complaints will be handled under the Complaints Handling Policy. A Client who remains dissatisfied may have the right to approach the FSC through its complaints process, subject to the FSC’s jurisdiction and applicable procedure.
22. Amendments
The Company may amend the Terms for legal, regulatory, operational, product or commercial reasons. Material changes will be communicated using an appropriate durable medium or website notice and, where required, advance notice will be provided.
23. Governing Law and Jurisdiction
Unless a mandatory law requires otherwise, these Terms are governed by the laws of Mauritius. The parties submit to the jurisdiction of the competent courts of Mauritius, without prejudice to any mandatory rights available to a Client under applicable law.
24. Entire Agreement, Severability and No Waiver
The contractual documents constitute the agreement between the parties in relation to the account. If a provision is invalid or unenforceable, the remaining provisions remain effective. A failure or delay by the Company to exercise a right does not constitute a waiver.
Contact and Regulatory Information
Montrock Ltd is incorporated in Mauritius under Company No. 231276 GBC and is regulated by the Financial Services Commission, Mauritius (FSC) as an Investment Dealer (Full Service Dealer, Excluding Underwriting), FSC Licence No. GB25205688. Registered office: Suite 201, Level 2, The Catalyst, 40 Silicon Avenue, Cybercity, Ebene 72201, Mauritius.
Compliance enquiries: compliance@mont-rock.com
Privacy enquiries: privacy@mont-rock.com
Complaints: complaints@mont-rock.com
Legal notices: legal@mont-rock.com
Website: https://mont-rock.com
Risk warning: Transactions in financial instruments, particularly leveraged or derivative instruments where offered, involve significant risk and may result in substantial loss. Nothing on the website constitutes a guarantee of profit or investment performance.