These Terms of Service (the “Terms”) are an agreement between you and GM Markets Ltd., a company incorporated in the British Virgin Islands (“GM Markets”, “we”, “us”). The Terms govern your access to and use of the GM Markets product, including the marketing site at gm.markets, the application, and all associated APIs, SDKs, and support channels (together, the “Services”).
By accessing or using the Services, you accept these Terms and our Privacy Policy. If you do not accept them, do not use the Services.
These Terms include the risk disclosure at /legal#risk and any additional notices you agree to at specific product moments (for example, KYC consent, higher-limit tier upgrades, whitelist enforcement).
To use the Services you must:
You are responsible for determining whether your use of the Services is lawful in your jurisdiction. Access to the Services does not constitute an offer or solicitation in any place where such an offer or solicitation is unlawful.
The Services are not offered to, and may not be used by, persons who are residents of, located in, or accessing the Services from:
We may use IP-based geolocation, KYC data, and other signals to enforce these restrictions. Attempting to circumvent them (including via VPN, proxy, or false declarations) is a material breach of these Terms and may result in immediate suspension and forfeiture of any residual balances to the extent permitted by law after safe return of user funds where possible.
The current list of restricted jurisdictions is maintained operationally and may change. Continued use after a change constitutes acceptance of the updated list.
You access the Services by authenticating through Privy. You may sign in with email, Google, Apple, a passkey, or by connecting an external self-custody wallet. Where you sign in without an external wallet, Privy provisions an embedded wallet for your account.
You are solely responsible for the security of your wallet, credentials, and any private key or seed phrase you export. We do not have access to your private keys and cannot recover them if lost. We cannot reverse an on-chain transaction you authorised — including one authorised in error, under duress, or to a mistyped address.
You must keep your account credentials confidential, and notify us promptly at [email protected] if you suspect unauthorised access. You are responsible for all activity that takes place under your account.
We may require you to complete identity verification (KYC) before you can use certain features or exceed certain limits. If we cannot verify you, we may restrict or close your access.
GM Markets is a wallet-native platform for holding, sending, and trading tokenized versions of publicly-listed stocks and ETFs. Each tokenized asset is designed to be backed 1:1 by an underlying security held in custody at a regulated broker-dealer (currently Alpaca Markets and Interactive Brokers), through a tokenized-security programme administered by a designated security agent (currently GenTwo). Trades are executed via a Request-For-Quote (RFQ) model against regulated tokenized security issuers.
GM Markets is non-custodial at the wallet layer: your tokens and trading balance sit in your own wallet on-chain. Order signing and settlement happen locally through your Privy session. Reserve attestations are published operationally and, when the transparency dashboard is enabled, at /transparency.
The Services are provided on an evolving basis. We may add, change, or remove features at any time. Certain features may be gated by feature flag, KYC tier, jurisdiction, or connected chain.
Your trading balance is the on-chain USD balance used inside the Services. When you deposit a supported stablecoin (currently USDC or USDT) on a supported operational chain (currently Arbitrum, Arbitrum Sepolia, Ethereum, Base), the equivalent trading balance is credited to your wallet 1:1. When you withdraw, trading balance is redeemed and the equivalent stablecoin is sent to your destination. Cross-chain deposits are routed through a relay operated by us or a sub-processor.
Trading balance is not a bank deposit, a security, or a claim on any specific pool. It represents an on-chain trading balance backed by the deposited stablecoin and is subject to the same technical, smart-contract, and third-party risks as any tokenized instrument.
We do not charge protocol fees on deposits, withdrawals, or sends. Standard blockchain network fees (gas) still apply and are typically abstracted through a paymaster where supported.
When you place a trade, you receive a quote from a regulated tokenized security issuer through our RFQ layer. Quotes are indicative and refresh continuously; a small slippage tolerance (default 0.5%, editable per trade) determines whether an out-of-tolerance execution is auto-rejected. When you confirm, the trade proceeds through a multi-stage signing and settlement pipeline (see /legal for details).
Once a trade is broadcast on-chain, it cannot be reversed. Failed execution before broadcast leaves your trading balance and share balances untouched. Failed backend registration after a successful on-chain fill is reconciled by us and does not affect your ownership.
We do not act as a broker-dealer, market maker, exchange, or investment adviser. Execution routing decisions are made against the best-available RFQ quote; we do not guarantee best execution against any external benchmark.
Trading fees range from 0.10% to 0.20% (10 to 20 basis points) of trade notional. The default rate is 0.20% and progressively drops to 0.10% based on your trailing 14-day trading volume, per the VIP tier ladder published at /pricing. Tier changes are automatic; no opt-in is required.
Deposits, withdrawals, and sends are free. Blockchain network fees (gas) apply and, where possible, are sponsored via a paymaster.
Referrers earn a share of the trading fees paid by their referred users, settled daily in USD, with no cap and no expiry. The referrer share scales with the referrer's VIP tier, up to 50% at the top tier. Terms of the referral programme (including rules against self-referral, wash-trade referral, and sybil behaviour) are set out at /referrals and are part of these Terms.
We may change fees, VIP thresholds, or referral economics from time to time. Material changes will be surfaced in the product and on the pricing page. Changes take effect prospectively.
Trading tokenized stocks and ETFs is risky. You can lose money, including all of what you deposit. Do not deposit funds you cannot afford to lose.
Read the full disclosure at /legal#risk.
Nothing on GM Markets — including the marketing site, the app, docs, notifications, charts, news headlines, market summaries, AI-generated content, or communications from us — constitutes investment, tax, legal, or accounting advice. All decisions to buy, sell, or hold are yours. Consult a licensed adviser for guidance in your jurisdiction.
You agree not to:
The Services, including the marketing site, the app, our source code, designs, brand, and content, are the property of GM Markets Ltd. or its licensors and are protected by intellectual-property laws. Except for the limited licence to use the Services under these Terms, no rights are granted to you.
Third-party trademarks and logos shown on the Services (for example, issuer or asset logos) belong to their respective owners. Their use is for identification only and does not imply endorsement.
If you send us feedback or suggestions, you grant us a worldwide, royalty-free, perpetual, irrevocable licence to use them without obligation.
The Services rely on third parties, including Privy (auth and embedded wallet), Alpaca Markets and Interactive Brokers (custody), GenTwo (security agent), RFQ counterparties, blockchain RPC providers, PostHog (analytics, when enabled), Sentry (error monitoring), Vercel (hosting), and others. We do not control these third parties, and their availability, terms, and privacy practices are their own. Their outages, breaches, or policy changes may affect your ability to use the Services.
Where a third-party service (for example, an OAuth provider) has its own terms and privacy policy, those apply to your relationship with them.
THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE”. To the maximum extent permitted by law, GM Markets Ltd. disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, non-infringement, quiet enjoyment, and any warranties arising from course of dealing or usage of trade.
We do not warrant that the Services will be uninterrupted, error-free, secure, or free of viruses or other harmful components; that quotes, prices, or attestation data will be accurate or timely; that the value of any tokenized asset will be preserved; or that any particular result will be achieved.
To the maximum extent permitted by law, GM Markets Ltd. and its officers, directors, employees, agents, and sub-processors will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for lost profits, lost data, lost opportunity, loss of goodwill, or loss of use, arising out of or related to the Services or these Terms, whether in contract, tort, or any other legal theory, even if we have been advised of the possibility of such damages.
Our aggregate liability arising out of or relating to the Services or these Terms shall not exceed the greater of (a) the fees you paid to us in the twelve months immediately preceding the event giving rise to the claim, or (b) one hundred U.S. dollars (US$100).
Some jurisdictions do not allow the exclusion or limitation of certain damages. If those laws apply to you, some or all of the above disclaimers or limitations may not apply, and you may have additional rights.
You agree to indemnify and hold harmless GM Markets Ltd. and its officers, directors, employees, agents, and sub-processors from and against any claim, loss, damage, liability, cost, or expense (including reasonable legal fees) arising out of or related to (a) your use of the Services, (b) your violation of these Terms or of any law, (c) your infringement of any right of any third party, or (d) any content or information you submit through the Services.
You may stop using the Services at any time and, subject to any pending trades or holds, withdraw your balances. To close your account, contact [email protected].
We may suspend or terminate your access to all or part of the Services, immediately and without prior notice, if we believe you have breached these Terms, if we are required to by law or regulation, if there is a risk to the Services or to other users, or if a sub-processor or counterparty essential to your access has ceased operations. Where possible, we will help you safely withdraw your balances.
Sections that by their nature should survive termination will survive, including intellectual property, disclaimers, limitation of liability, indemnity, governing law, and dispute resolution.
These Terms are governed by the laws of the British Virgin Islands, without regard to its conflict-of-laws principles.
Any dispute, controversy, or claim arising out of or in connection with these Terms, or the breach, termination, or invalidity of them, that cannot be resolved amicably within 30 days of written notice, shall be finally resolved by arbitration administered by an internationally recognised arbitral institution, seated in the British Virgin Islands, before a sole arbitrator, in English. The award shall be final and binding on the parties.
To the extent permitted by law, you and GM Markets agree that disputes will be resolved on an individual basis and not as part of any class, collective, or representative proceeding.
Nothing in this section prevents either party from seeking urgent injunctive relief from a court of competent jurisdiction.
We may update these Terms from time to time. Material changes will be notified at least 30 days before they take effect, either in the app, by email to your registered address, or by a prominent banner on the marketing site. Continued use after the effective date constitutes acceptance. If you do not agree, stop using the Services and withdraw your balances.
See also the Privacy Policy, the Legal index, and the Security model.
