Elite Trading Group Terms and Conditions

By participating in The Elite Trading Group you are confirming that you are legally entitled to do so. If you participate in the group you are automatically consenting to the terms of the group. You are initially provided with access to a Level 1 Trading account.  

Age restrictions may apply in certain regions and it is your responsibility to make sure you are permitted to be involved in The Elite Trading Group.

How Profit is managed?

When you log into the Elite Trading Group Account you will see no account balance on the Summary tab. The cash balance will reflect only profit in the account. Therefore, there is no ambiguity determining what is profit and what is part of the original stake. As you make profits your standing in the Elite Trading Group increases and your level as shown on the table below increases as well. 

When you make one bitcoin’s profit you go up to Level 2 and the amount of stock you can trade increases to a maximum of 36 bitcoins. Make just two more bitcoins worth of profit and you are at Level 3 and able to trade up to a maximum of 65 bitcoins worth of stock. It is possible to close your positions and remove your remaining bitcoin margin from the account at any time. However, it is not possible to remove the bitcoin First Global Credit has allocated to your account. 

Level 11 Performance Incentive

When a trader reaches Level 11 they can choose to use a portion of their profit that First Global Credit will match to lease a Porsche Boxster or similar vehicle. This will be arranged by First Global Credit on a year by year basis, to commence with a one-year term. The profit will be removed from the trader’s account and will not be available as trading collateral. 

The performance incentive is currently only available to traders located in North America, the United Kingdom and certain countries in mainland Europe. It is subject to availability. To apply for this incentive, the trader must have a clean driving record and age restrictions apply. The purchase and maintenance of appropriate levels of insurance will be part of the lease structure. The lease can be terminated if the trader’s driver’s license undergoes restriction, suspension or if the trader is convicted of a crime other than a parking violation. In the instance of theft or damage the leasee is obligated to inform the authorities and First Global Credit.

Another similarly priced vehicle may be substituted for the Porsche Boxster if the Boxster is unavailable at time of lease. The lease will remain in effect for an initial term of one year even if the balance of the account falls below Level 11. It is possible to continue the lease into year 2 and 3 if Level 11 or greater is achieved and maintained. Once the profit in the account is allocated to the lease it will not be available as trading capital.

Level 15 Performance Incentive

When a trader reaches Level 15 they can choose to use a portion of their profit that First Global Credit will match to lease a Ferrari 458 or similar vehicle. This will be arranged by First Global Credit on a year by year basis, to commence with a one-year term. The profit will be removed from the trader’s account and will not be available as trading collateral. 

The performance incentive is currently only available to traders located in North America, the United Kingdom and certain countries in mainland Europe. It is subject to availability. To apply for this incentive, the trader must have a clean driving record and age restrictions apply. The purchase and maintenance of appropriate levels of insurance will be part of the lease structure. The lease can be terminated if the trader’s driver’s license undergoes restriction, suspension or if the trader is convicted of a crime other than a parking violation. In the instance of theft or damage the leasee is obligated to inform the authorities and First Global Credit.

Another similarly priced vehicle may be substituted for the Porsche Boxster if the Boxster is unavailable at time of lease. The lease will remain in effect for an initial term of one year even if the balance of the account falls below level 11. It is possible to continue the lease into year 2 and 3 if Level 11 or greater is achieved and maintained. Once the profit in the account is allocated to the lease it will not be available as trading capital.These incentives are not transferable to other persons and acting outside of the terms of the Lease Contract will result in immediate termination of the lease and include forfeiture of the full value of the lease.

Removing profit from the trading account

After profit is generated by the account, the trader can choose to remove some or all of the profit from the trading account to an off-service wallet. First Global Credit will proportionally remove trading profit from the account as well. This will decrease the amount of trading collateral available and lower the available trading power of the account. The level of the account will decrease in line with the available trading margin.

Account Closure or Termination of Access

If the available margin in the account falls below the level of -2 bitcoins, the account will be suspended and all positions will be closed. Under certain conditions it may be possible to reopen a trading account. This is addressed on a case by case basis and is at the sole discretion of the First Global Credit management.

First Global Credit also has the right to suspend a Private Trading Account and terminate access at any time at their sole discretion. If this option is exercised the proportion of profit owed to the trader will be distributed to an offsite wallet nominated by the trader. If there is no profit and only a portion of the margin remains in the account the trader can remove their share of any remaining margin to an offsite wallet.

Transfer of use

A Private Trading Account can only be used by the individual designated as the account owner. Transfer of ownership, access or use by multiple individuals is strictly prohibited unless written permission is granted by an officer of First Global Credit.

Promotion or publication of results

First Global Credit has the right to publish any results concerning performance of the Private Trading Group account. It is strictly prohibited to advertise or display your trading results in an effort to find outside money to take under management. 

Change of Terms

The terms of this agreement can change at any time with 30 days notice. After such notice, continuing to use the service will be taken as consent to the new terms of service.

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