As used in these Terms & Conditions, "Saks Global" means Saks Global Agente de Valores S.A., a duly licensed brokerage firm regulated by the Central Bank of Uruguay (Banco Central del Uruguay), operating through its digital, in-application, and web platforms under the brand Saks Global.
These Terms and Conditions govern your relationship with Saks Global, including your access to and use of its digital investment platform, websites, mobile applications, services, products, content, tools, and any other information provided by Saks Global.
These Terms and Conditions supplement and integrate any other agreements between you and Saks Global, including but not limited to the Client Agreement, Account Opening Form, Custody and Execution Terms, Privacy and Data Protection Policy, and Risk Disclosure Statement, which collectively form the binding legal framework of your relationship with Saks Global.
By accessing or using any Saks Global product or service, you agree to be bound by these Terms and Conditions and acknowledge that Saks Global is regulated under the laws of the Republic of Uruguay and supervised by the Superintendencia de Servicios Financieros del Banco Central del Uruguay, in accordance with applicable regulations for financial intermediaries.
Saks Global adopts measures to protect the privacy of its customers and users of its platforms. Any information relating to an identified or identifiable natural person will be considered "personal data" for purposes of this policy.
Personal data provided by customers, collected by Saks Global, or resulting from access or transactions will be processed, with or without automated means, within the scope of the commercial relationship and may be transferred to authorized third parties as necessary for service delivery.
Saks Global is the entity responsible for collecting and processing personal data in accordance with Uruguayan Law No. 18.331 and applicable international data protection laws, including GDPR (EU Regulation 2016/679) and LGPD (Brazilian Law No. 13.709/2018) where applicable.
Customers have the right to access, update, rectify, or delete their personal data through written communication to Saks Global at:
URUGUAY
Luis Bonavita 1294, WTC FreeZone, Torre II, Of. 533 - Montevideo CP11300 - Uruguay
Email: support@saks.global
Saks Global websites use cookies as described in the Cookie Policy available in the legal area of the platform. Users may change cookie preferences in their browser settings.
Saks Global may adjust or change this policy. Material changes will only apply to future activities or data collected after the update.
All trademarks, logos, design elements, texts, software, and content on the Saks Global platform are the exclusive property of Saks Global or its licensors. The Customer may use such materials only for personal, non-commercial purposes.
Unauthorized use of Saks Global intellectual property may result in legal action and termination of access to the platform.
The Customer declares that:
a. All funds deposited and operated in the Saks Global account are the Customer's own and not related to illegal activities (including but not limited to drug trafficking, terrorism financing, smuggling, fraud, money laundering, tax fraud, etc.).
b. Orders will be placed via the Saks Global Platform, in written and/or verbal form (in accordance with platform instructions).
Communications for account actions may be recorded for security and compliance purposes. Saks Global will only accept orders communicated via the registered email or main phone number linked to the Customer's account.
Saks Global provides a digital platform for customers to place, monitor, and manage investment orders ("self-directed accounts"). Unless expressly stated, Saks Global does not provide personalized investment advice or portfolio management.
All investment decisions and associated gains or losses are the sole responsibility of the investor.
The Customer acknowledges having been informed of all costs, expenses, commissions, fees, and other applicable charges associated with the Saks Global account, including amounts, concepts, frequency, and whether they are mandatory or optional.
Saks Global may vary such amounts under the following conditions:
a. Without notice if the change is favorable to the Customer;
b. With one month's written notice in other cases.
Updated schedules are available at www.saks.global.
The Customer waives Saks Global's obligation of banking secrecy and confidentiality in order to disclose information:
a. when compelled by judicial decisions, law, or regulatory authority;
b. to affiliated entities, branches, subsidiaries, or controlling entities;
c. if accessed by unauthorized third parties (e.g., hackers).
The Customer authorizes Saks Global to transfer personal data to necessary partners or service providers, both domestically and internationally, as required for service delivery.
The Saks Global platform, services, and content are provided "as is" and "as available." Saks Global makes no express or implied warranties, including but not limited to fitness for a particular purpose, accuracy, or uninterrupted access.
Platform usage is at the Customer's own risk.
The Customer agrees to indemnify and hold harmless Saks Global, its shareholders, directors, employees, affiliates, subsidiaries, and agents from any claims, losses, liabilities, costs, or expenses (including legal fees) arising from:
a. breach of these Terms;
b. negligent, unlawful, or fraudulent acts by the Customer;
c. misuse of the Saks Global platform or services.
This indemnification survives termination of the contractual relationship.
Trading financial products involves risk.
Risk disclosures for complex products such as FX, CFDs, Futures, and Options are described in the Risk Disclosure Statement, which forms part of these Terms.
By trading on Saks Global, the Customer acknowledges having read and understood the risks, including the possibility of losing more than the initial deposit in margin or leveraged products.
a. Accounts holding leveraged or margin products must maintain the Margin Requirements specified by Saks Global.
b. Margin Requirements may be modified at any time in Saks Global's discretion.
a. The Customer is fully liable for any Negative Balance in their account.
b. A Negative Balance includes net deficits arising from trading losses, fees, commissions, financing costs, or other charges.
c. The Customer must promptly pay all Negative Balances upon demand, including associated costs and interest.
a. Liquidation Rights. Saks Global may, at its sole discretion and without prior notice, liquidate any or all positions or assets in the Customer's account to:
b. Assets Subject to Liquidation. Such liquidation may include securities, derivatives, FX positions, CFDs, futures, options, and other financial instruments.
c. Methods and Timing. Saks Global may sell at such times, prices, and markets as it deems appropriate, including outside regular trading hours.
d. No Advance Notice Required. Saks Global is not obligated to notify the Customer prior to liquidation, and delays in liquidation shall not be construed as a waiver of any rights.
a. If the proceeds from liquidation do not fully cover amounts owed, the Customer remains liable for any remaining deficit.
b. The Customer must pay such remaining amounts immediately upon demand.
c. Interest, fees, costs of liquidation, and collection expenses (including legal costs) apply to post-liquidation deficits.
a. The Customer grants Saks Global a continuing security interest and lien over all assets in their accounts to secure obligations under these Terms.
b. Saks Global may apply funds or assets from any Customer account (now or in the future) to cover amounts owed.
c. Saks Global may set off any obligation against cash or assets held for the Customer without prior notice.
An Event of Default occurs if:
a. The Customer fails to satisfy amounts due, including Negative Balances;
b. The Customer fails to meet Margin Requirements;
c. The Customer breaches any representation or covenant in these Terms;
d. Saks Global reasonably believes the Customer's financial condition warrants protective action.
Upon an Event of Default, Saks Global may, without prior notice:
a. liquidate any or all positions;
b. close or suspend accounts;
c. exercise set-off and apply funds;
d. enforce security interest and liens;
e. pursue legal remedies.
By opening or maintaining an account with Saks Global, the Customer represents and warrants:
a. that they understand the risks of trading and carrying leveraged products;
b. they have the financial capacity to cover all obligations;
c. Saks Global may exercise the rights and remedies described in these Terms;
d. all information provided is accurate and complete.
These Terms shall be governed and interpreted in accordance with the laws of the Republic of Uruguay, except where the Customer is domiciled in another jurisdiction in which case local laws apply.
Disputes shall be resolved before the competent courts of Montevideo, Uruguay, unless otherwise required by mandatory laws.
Saks Global may amend these Terms at any time. Continued use of the platform constitutes acceptance of changes.
If any provision of these Terms is invalid or unenforceable, that provision shall be severed and the remaining provisions shall continue in effect.
By accepting these Terms and Conditions, the Customer confirms:
a. they have read and understood all Terms (including risk disclosures);
b. acceptance of these Terms applies to all trading and account relationships with Saks Global;
c. personal data may be processed as described;
d. account statements and legal notifications may be delivered electronically.