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Contract reading

What AI GOLD legally published, but does not want you to read

Every clause below is published by AI GOLD itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: AI ゴールド証券株式会社

sole discretionhidden feewithdrawalscomplaint windowdeemed acceptancemargin callprofit voidingtrade cancellationage limitalgorithmic trading

AI GOLD is registered in Japan and holds your margin in trust at SBI Clearing Trust. The contract that binds you is on no legal page. It sits inside dated news posts from January, May and August 2026. Article 29 lets AI GOLD cancel trades you have already had filled, or stop your deposits and withdrawals, with no notice and no stated grounds, and you carry the loss.

Back to AI GOLD

Contract risk

Money at risk
6.8/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
6
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
20
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
20
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
5

How the 20 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical6
Warning11
Notice3

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical4 working daysWithdrawal limit. Jump to the clause this comes from.Four day withdrawal promise has an open ended exceptionCritical10 working daysTime to complain. Jump to the clause this comes from.Ten business days to object or the statement standsCritical14.6%Fee you were not shown. Jump to the clause this comes from.Debts to AI GOLD carry 14.6% a yearCritical50%Account limit. Jump to the clause this comes from.AI GOLD can stop quoting and freeze every order

What the documents say

20 clauses worth knowing about, worst first, each quoted from AI GOLD's own files

01

When AI GOLD judges it reasonably necessary, Article 29.2 lets it cancel your orders and the trades already filled on them, or stop your deposits and withdrawals. It owes you no notice, and the article says any loss that follows is yours.

Why this matters

A profit you have already banked can be removed after the fact, and your money can be frozen on the way out. The clause names no grounds, no time limit and no appeal, so there is no test you can hold AI GOLD to.

Exhibit 1CriticalRarely seen

また、前項の規定にかかわらず、当社が合理的に必要であると判断した場合には、当社はお客様に何ら通知をすることなく、お客様の注文及び約定を取消し、あるいは入出金を停止することができるものとし、それにより生じる損害及び損失はお客様の負担とします。
Clause 第29条第2項 in 店頭商品デリバティブ取引約款, p.13
Read from the broker's site on Open the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026Filled trades can be cancelled and payments stopped without notice (clause 第29条第2項)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Our readingMost agreements let a broker cancel a trade on a defined trigger, such as a manifest pricing error. This one folds three powers into a single sentence, cancelling filled trades, halting money in and out, and moving the loss to the client, and hangs all three on the firm's own view of what is necessary rather than on any stated ground.

  • Worse together with Exhibit 2One article stops the payment and the other lets the margin be retained, so a client chasing a withdrawal can be refused under either without either one naming a reason.
  • Worse together with Exhibit 3A cancelled trade shows up on a statement you have 10 business days to dispute, after which your silence counts as agreement to it.
02

AI GOLD tells you a withdrawal takes at most 4 bank business days. Article 9.6 then says that limit does not apply when the firm decides it needs to keep your margin for debt preservation or other circumstances.

Why this matters

The words other circumstances are defined nowhere in the agreement, and no outer limit applies once AI GOLD relies on them. Your money can sit there while the firm decides, and the FAQ that quoted you 4 days never mentions this.

Exhibit 2CriticalHarder than usual4 working days

当該請求を受け付けた日から起算して原則として４銀行営業日以内に、出金請求額をお客様の本取引における指定金融機関口座に入金する方法により返還されるものとします。
Clause 第9条第5項 in 店頭商品デリバティブ取引約款, p.6
Read from the broker's site on Open the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026The claim, on MTcX FAQ, question on how long a withdrawal takesVisit this page on the broker's siteDownload the full size image file
Our own capture of aigold.co.jp, taken on Aug 31, 2026What the contract says, clause 第9条第6項This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of aigold.co.jp, taken on Aug 31, 2026Four day withdrawal promise has an open ended exception (clause 第9条第5項)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must return client money promptly on request and may hold it back only on defined grounds they can evidence. This agreement lets AI GOLD retain your margin whenever it considers that necessary for debt preservation or other circumstances.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Limited by Exhibit 17Your margin is held in trust at SBI Clearing Trust, so a retention under Article 9.6 delays the money rather than exposing it to AI GOLD's own balance sheet.
03

Every document AI GOLD must legally give you arrives electronically, and Article 14.2 gives you 10 business days to object to what it says. Miss that window and the agreement treats your silence as confirmation that the contents are correct.

Why this matters

The clock starts on the day the document is sent, not the day you open it. If a fee, a fill or a cancelled trade is wrong and you notice in week three, the agreement has already recorded your agreement to it.

Exhibit 3CriticalHarder than usual10 working days

お客様は、当該記載事項の内容に異議がある場合には、当該電子交付の日から起算して 10 営業日以内に、当社に対して電子メール又は書面にてその旨を申し受けることができるものとします。上記期間内に申し出がなされなかった場合は、お客様はそれらの電子交付の内容を確認し承諾したものとみなします。
Clause 第14条第2項 in 店頭商品デリバティブ取引約款, p.8
Read from the broker's site on Open the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026Ten business days to object or the statement stands (clause 第14条第2項)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

What it costsA statement sent on the 1st of the month can no longer be challenged from the 15th, counting only business days.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must accept and investigate a retail complaint and point the client to an independent ombudsman, and cannot treat silence as settling the matter. This agreement converts 10 business days of silence into confirmation that the statement is correct.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

04

If a loss takes your account below zero, you owe AI GOLD the difference, and Article 22 charges 14.6% a year on it from the day after the due date. The statutory pre contract document you get before you sign does not contain that number.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

AI GOLD has no duty to write off a negative balance, and Article 16 says it carries no responsibility when a loss cut leaves you owing more than you deposited. The debt then grows at 14.6% a year until you clear it.

Exhibit 4CriticalHarder than usual14.6%

お客様が当社との間で行う本取引に関し、当社に対する債務の履行を怠った時は、履行期日の翌日から債務全額の支払いに至るまで年率 14.6％の割合による遅延損害金を当社は受け取ることができるものとします。
Clause 第22条 in 店頭商品デリバティブ取引約款, p.11
Read from the broker's site on Open the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026The claim, on Customer first business policy, section 3 on fee clarityVisit this page on the broker's siteDownload the full size image file
Our own capture of aigold.co.jp, taken on Aug 31, 2026What the contract says, clause 第22条This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

What it costsA shortfall of 100,000 yen left unpaid for a year adds 14,600 yen in late payment charges.

Set against a regulated standard: FCA (UK), ESMA (EU), CySEC (Cyprus)

Firms licensed by the FCA and under ESMA rules must give retail clients negative balance protection, so a retail account cannot be taken below zero. This agreement lets the balance go below zero and charges 14.6% a year on what is left owing.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Margin ratio under 100% at previous business day closeAn additional margin call for the shortfall is raised against your account.
End of the next business dayPay in or close positions, or AI GOLD force closes every position you hold in sequence.
Margin ratio under 50%Loss cut runs, and AI GOLD accepts no responsibility if it leaves you owing more than you deposited.第16条第2項
Day after the due dateLate payment damages of 14.6% a year start running on the whole debt.第22条
  • Only applies after Exhibit 5The debt this article charges interest on is created by the gap risk in the rate suspension clause, where a loss cut can run far below the 50% level.
  • Worse together with Exhibit 10Once you owe the money, Article 20 lets AI GOLD take it from any other account you hold with the firm without asking.
05

When AI GOLD decides it cannot show a market rate, it stops quoting and may halt execution of all orders until it decides to restart. Its own page warns that a loss cut can then run far below the 50% margin level when quoting resumes.

Why this matters

You cannot close a position while quoting is suspended, and you cannot appeal the decision to suspend. The gap that opens while you are locked out is charged to your account, and Article 16 says AI GOLD is not responsible for it.

Exhibit 5CriticalHarder than usual50%

当社がレート提示を停止している間のマーケット動向により、レート提示再開時点とレート提示停止時点とのレートが乖離する場合があり、再開後に証拠金維持率50％を大幅に下回るロスカットが執行される可能性があります。
Quoted in MTcX取引概要, ２ＷＡＹプライスの提示
Read from the broker's site on Open the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026AI GOLD can stop quoting and freeze every orderVisit this page on the broker's siteDownload the full size image file

What it costsAt a 5% margin rate, a 1,000,000 yen position needs 50,000 yen of margin.

Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA and under ESMA rules cap retail leverage on commodities other than gold at 10 to 1 and give retail clients negative balance protection. AI GOLD applies 20 to 1 across all 16 commodities it lists, including natural gas, cocoa and sugar.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 1Quoting can be suspended under one clause and any fill that did occur cancelled under another, so both the exit and the trade sit inside AI GOLD's discretion.
06

AI GOLD says it takes every measure to protect elderly clients. Its contract makes a decline in your mental or physical faculties an event of default, and in January 2026 it raised the trading age ceiling from 75 to 90.

Why this matters

If your health declines to the point where trading becomes hard, Article 17 strips the time you had to pay, with no notice and no demand. Article 18 then lets AI GOLD close every position you hold immediately, at whatever the market is doing that day.

Exhibit 6CriticalRarely seen90

心身機能の低下により、本取引の継続が著しく困難又は不可能になったとき。
Clause 第17条第1項(7) in 店頭商品デリバティブ取引約款, p.9
Read from the broker's site on Open the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026The claim, on Elderly client protection page, opening paragraphVisit this page on the broker's siteDownload the full size image file
Our own capture of aigold.co.jp, taken on Aug 31, 2026What the contract says, clause 第17条第1項(7)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Our readingInsolvency, seizure and death are the usual entries in a default list. Adding a decline in mental or physical function turns a health event into an acceleration of debt, and it sits in the same contract that now admits clients until their ninetieth birthday.

What the site sells is what the agreement restricts

AI GOLD promises every measure to protect elderly clients while its contract makes a decline in mental or physical function an event of default, and it raised the age ceiling from 75 to 90 in January 2026. It markets round the clock automated trading on MetaTrader 5 while banning improper algorithmic trading without defining it, and can close an account it thinks may burden the system.

Promise and contract1 clause flagged

AI GOLD markets itself around running expert advisors on MetaTrader 5. Its risk document bans improper algorithmic trading without defining it, and reserves the right to cancel orders and restrict your account.

Why this matters

AI GOLD accepts no responsibility at all for anything your automated program does. Article 30 also lets the firm close your account if it thinks your activity might burden the trading system, which is the ordinary result of running a strategy around the clock.

Exhibit 15WarningHarder than usual

不当なアルゴリズム取引やシステムを悪用した不正取引は禁止されており、当社は必要に応じて、注文取消や口座の取引制限等を行う場合があります。
Quoted in 店頭商品デリバティブ取引：重要事項（リスクについて）, 【不正取引・価格誤配信に関するリスク】
Read from the broker's site on Archived copyOpen the reference
Our own capture of aigold.co.jp, taken on Aug 31, 2026The claim, on MTcX FAQ, automated trading program sectionThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of aigold.co.jp, taken on Aug 31, 2026What the contract says, clause 第30条(6)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
  • Only applies after Exhibit 11The system load trigger in the termination article is what gives the ban on improper algorithmic trading its teeth.

The fee table says free and the contract says otherwise

AI GOLD charges 14.6% a year on any debt you owe it, and 550 yen on withdrawals under 10,000 yen or from the sixth in a month. Neither figure appears in the statutory pre contract document, and neither is in the fee table on the MTcX overview, which lists only two lines and marks both free. The advice course also quotes wider spreads than the internet course, and no page states by how much.

Cost disclosure2 clauses flagged

AI GOLD says trading commissions are free and its fee table lists nothing else. Article 13.3 takes 550 yen off any withdrawal under 10,000 yen, and off the sixth and every later withdrawal you make in the same month.

Why this matters

The fee table on the MTcX overview shows two lines, trading commission and account management fee, and both say free. You find the 550 yen by reading the agreement or scrolling the FAQ, not where the costs are set out.

Exhibit 7WarningHarder than usual$550

取引口座からの出金する際の振込手数料は原則当社負担としますが、10,000 円未満の出金依頼および同月に６回以上の出金は、出金手数料 550 円を差し引いた額を出金するものとします。
Clause 第13条第3項 in 店頭商品デリバティブ取引約款, p.8
Read from the broker's site on Open the reference

What it costsA 9,000 yen withdrawal reaches your bank as 8,450 yen. Taking out 5,000 yen twice costs 1,100 yen in fees.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose all costs and charges to a retail client before they trade, gathered in one place. Here the withdrawal fee appears in the agreement and the FAQ but not in the fee table or in the statutory pre contract document.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

AI GOLD runs two courses on the same product. The advice course quotes you worse prices than the internet course, and no page, no fee table and no contract clause says by how much.

Why this matters

You pay for the phone advice on every trade through the price you get, not through a fee you can see. Article 13.2 also lets AI GOLD change its fees whenever it considers that necessary, and the rollover adjustment is reset daily at the firm's own judgement.

Exhibit 8WarningHarder than usual

≪ご注意≫総合コースとインターネットコースでは提示する価格が異なります。
Quoted in MTcX取引概要, 取引コース
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must show a retail client the total cost of dealing, including any mark up built into the price. AI GOLD discloses that the advice course spread is wider without ever stating the figure.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A filled trade is final until AI GOLD decides it is not

Article 29.2 lets AI GOLD cancel an order and the trade already filled on it whenever the firm judges that reasonably necessary, with no notice and no stated grounds. Article 12.5 separately lets it rewrite an executed price to whatever it decides the price should have been. Article 12.3 asks you to accept in advance that your fill may not appear in AI GOLD's own rate history at all.

Trade reversal1 clause flagged

Article 12.3 asks you to accept up front that a trade may fill at a price worse than the market, and at a price that does not appear in AI GOLD's own rate history. Article 12.5 lets the firm rewrite an executed price afterwards.

Why this matters

If you dispute a fill, the record you would normally check may simply not contain the price you got, because you agreed it might not. AI GOLD decides what the price should have been, though the correction clause applies whether the change helps you or hurts you.

Exhibit 9WarningRarely seen

市場・経済事情、委託先またはカバー先からのレート配信状況により、お客様にとって不利なレートで約定することがあること、また、当社レート履歴に記載のない不利なレートで約定することがあることを、お客様は予め了承するものとします。
Clause 第12条第3項 in 店頭商品デリバティブ取引約款, p.7
Read from the broker's site on Open the reference

Our readingBrokers routinely disclaim liability for slippage. Asking the client to accept in advance that a fill may sit outside the firm's own rate history removes the reference record a dispute would otherwise be settled against.

  • Worse together with Exhibit 13AI GOLD is the counterparty and the only source of the price, so the firm setting the quote is also the firm deciding what the quote should have been.

AI GOLD can stop quoting, set off, amend and close

AI GOLD can suspend its own quotes when it decides the market rate cannot be shown, halting execution of every order, and its page warns a loss cut may then run well below the 50% margin level. Article 20 lets it set off debts across every account you hold with it, without notice or consent, at an interest rate and in a currency it picks. Article 30 lists fifteen grounds for closing you with no notice, several turning on what the firm recognises rather than what you did.

Firm discretion3 clauses flagged

Article 20 lets AI GOLD set any debt you owe against any money it holds for you, at any time, with no advance notice and no consent from you. It reaches every dealing you have with the firm, not only your MTcX account.

Why this matters

AI GOLD also runs exchange traded accounts, so a shortfall on a commodity trade can be taken from a balance you keep elsewhere in the firm. The article also lets AI GOLD pick the interest rate and, where currencies differ, the currency it converts at.

Exhibit 10WarningHarder than usual

当社は、その債務とお客様の当社に対する本取引に係る債権その他一切の債権を、その債権の期限にかかわらず、お客様への事前の通知およびお客様の承諾を必要とすることなく、いつでも相殺することができるものとします。
Clause 第20条 in 店頭商品デリバティブ取引約款, p.10
Read from the broker's site on Open the reference

Article 30 lets AI GOLD end your contract at its discretion with no advance notice. The list runs to fifteen triggers, including no login for one year, turning 90, and putting load on the trading system or looking like you might.

Why this matters

Several triggers turn on what AI GOLD decides rather than on what you did, because the wording is that the firm recognises it as having happened. Your open positions are then closed at the price ruling at termination, and any special costs are billed to you.

Exhibit 11WarningHarder than usual

当社は、お客様に事前に通知することなく、当社の裁量により本契約を解約することができるものとします。
Clause 第30条 in 店頭商品デリバティブ取引約款, p.13
Read from the broker's site on Open the reference
  • Worse together with Exhibit 12Refusing an amendment is itself one of the fifteen triggers, so declining new terms and being closed are the same outcome.

AI GOLD can change the agreement whenever its business needs it, and tells you by posting on its website. Its amendment notices then say that anyone who trades after the effective date is treated as having agreed.

Why this matters

To refuse, you must write in or email, and refusing means you cannot trade at all. Placing a single order after the date settles the question for you, whether or not you saw the notice.

Exhibit 12WarningHarder than usual

本約款は、法令等の変更、監督官庁の指示その他当社の業務上の必要が生じた場合は、変更されることがあります。
Clause 第34条 in 店頭商品デリバティブ取引約款, p.15
Read from the broker's site on Open the reference

Ten business days of silence counts as agreement

Article 14.2 gives you 10 business days from the date AI GOLD sends an electronic document to object to it, after which you are deemed to have accepted the contents. Complaints on this product are taken by telephone only, on weekdays, so nothing you say leaves a record. Article 8.5 puts every consequence of a third party using your login on you, whatever the circumstances.

Challenge window2 clauses flagged

If someone else uses your login, Article 8.5 treats the orders as yours whatever the circumstances, and names theft, fraud, interception and wiretapping among those circumstances. It then lets AI GOLD claim its own losses back from you.

Why this matters

Being the victim of a crime does not shift the loss here. Article 29 does carve out AI GOLD's own wilful misconduct and gross negligence, so the exclusion is not total, but everything short of that lands on you.

Exhibit 14WarningHarder than usual

第三者が本取引にかかわる指図を行った場合には、当社がそれらをお客様による本取引にかかわる指図として扱うことにお客様はあらかじめ了承し、第三者による本取引に関わる指図に起因して生じた結果については、事情の如何を問わず、すべてお客様が責を負うものとします。
Clause 第8条第5項 in 店頭商品デリバティブ取引約款, p.5
Read from the broker's site on Open the reference

AI GOLD's complaints desk for this product accepts complaints by telephone, on weekdays between 8:30 and 17:00. The trading agreement itself sets out no complaints procedure at all.

Why this matters

A phone call leaves you no record of what you said or when you said it, on an account where Article 14 gives you 10 business days to raise an objection. The agreement points you to a court in Tokyo and names no independent scheme.

Exhibit 19WarningHarder than usual

受付方法 ： 電話による受付 0120-94-5797
Quoted in 店頭商品デリバティブ取引：重要事項（リスクについて）, 苦情受付窓口
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must accept complaints in writing, acknowledge them in a set time and refer the client to an independent ombudsman. AI GOLD directs complaints to a telephone line and lists the Japan Commodity Futures Association separately on its risk page.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 3A deadline of 10 business days runs against a complaints channel that produces no written proof you called.

A mismatched bank name can reverse a filled trade

AI GOLD requires the name on an incoming transfer to match the account name exactly. Where it does not, the firm restricts trading and may cancel orders that have already been executed, with the losses and transfer fees charged to you. Article 30 also allows termination if you do not answer an identity check within a period AI GOLD sets.

Identity checks1 clause flagged

If the name on your bank transfer does not match the name on your account, AI GOLD restricts your trading and may cancel orders that have already been filled. The losses and the transfer fees are yours.

Why this matters

Sending money from a joint account or a company account is enough to trigger this. Article 30 also lets AI GOLD close you down if you do not respond to an identity check within the period it sets.

Exhibit 18WarningHarder than usual

同一名義での入金ではない場合、お取引に一時的に制限をかけさせていただき、すでに注文が約定していた場合には注文を取消させて頂く場合がございます。
Quoted in よくあるお問い合わせ（MTcX）, 入金について
Downloaded from the broker's site on Open the reference
  • Worse together with Exhibit 1A funding mismatch is one named route to a cancelled trade, and Article 29 supplies a second that needs no named route at all.

A Japan registered firm whose contract is hard to find

AI GOLD is registered with the Kanto Local Finance Bureau as financial instruments business operator number 282, holds client margin in trust at SBI Clearing Trust, and accepts Japanese residents only. Its trading agreement and its statutory pre contract document are published only inside dated news posts, reachable from no legal page or footer. The MTcX overview cites Article 16 and Article 22 of that agreement without linking to it.

Entity and access2 clauses flagged

AI GOLD's trading agreement and its statutory pre contract document are both online, but nothing links to them except dated announcements in the news feed. No legal page, no footer entry and no document shelf carries them.

Why this matters

The MTcX overview tells you to consult Article 16 and Article 22 of the trading agreement, and gives you no way to reach it. To read what you are agreeing to, you have to guess that a January, May or August news post is where a contract lives.

Exhibit 16WarningHarder than usual

詳しくは「店頭商品デリバティブ取引約款」の「第16条 ロスカット」をご参照ください。
Quoted in MTcX取引概要, ４、ロスカットルール
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must make their terms of business available to a retail client before the client is bound. AI GOLD does publish the agreement, but only behind dated announcements rather than on any page a prospective client would look at.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

AI GOLD is registered with the Kanto Local Finance Bureau as a financial instruments business operator, number 282. Your margin sits in trust at SBI Clearing Trust, separate from the firm's own money.

Why this matters

If AI GOLD fails, your positions are settled and the trustee returns what is left through a beneficiary representative. Only Japanese residents can open an account, so this protection is not available to anyone outside Japan.

Exhibit 17NoticeStandard wording

お客様からお預かりした証拠金（証拠金預託額＋評価損益相当額＋入出金予定額＋調整額）は、SBIクリアリング信託株式会社を信託先として、法令により分別管理されますが、信託先や当社の財務状況が悪化した場合などには、資金返還に支障が生じ、損失が発生する可能性があります。
Quoted in 店頭商品デリバティブ取引：重要事項（リスクについて）, 【信託保全に関するリスク】
Read from the broker's site on Archived copyOpen the reference

Japanese law and a Tokyo court, local to every client

Article 31 applies Japanese law and Article 32 sends disputes to the court covering AI GOLD's Tokyo head office. Because Article 7 admits only Japanese residents, that court is local to everyone who can open an account. Nothing in the agreement waives your right to go to court or forces you into arbitration, and this part of the contract is entirely ordinary.

Governing law1 clause flagged

The agreement is governed by Japanese law, and disputes go to the court covering AI GOLD's head office in Tokyo. Because only Japanese residents can open an account, that court is local to every client.

Why this matters

Nothing here pushes you into a distant forum or takes away your right to go to court. This is the ordinary arrangement, and it is worth knowing that the harder clauses in this report sit inside an otherwise standard frame.

Exhibit 20NoticeStandard wording

お客様と当社との間の本取引に関する訴訟については、当社本店の所在地を管轄する裁判所を指定するものとします。
Clause 第32条 in 店頭商品デリバティブ取引約款, p.15
Read from the broker's site on Open the reference

AI GOLD is your counterparty and your only price source

Article 5 says AI GOLD becomes the counterparty on every MTcX trade, and the product page repeats it, which is more openness than most firms offer. AI GOLD alone sets the rate you deal at and revises the daily rollover adjustment at its own judgement. Its published conflict of interest policy covers group companies and internal separation, and never mentions dealing on its own account.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Both sides1 clause flagged

Every MTcX trade is against AI GOLD itself, and AI GOLD alone decides the rate you deal at. The firm states this plainly on the product page, which many brokers do not.

Why this matters

Your loss on this product is the firm's gain, and there is no exchange price to check the quote against. The conflict of interest policy AI GOLD publishes covers group companies and internal separation, and never mentions dealing on its own account.

Exhibit 13NoticeStandard wording

本取引は、当社がお客様の相手方となって取引を成立させる相対取引となります。
Clause 第5条第1項 in 店頭商品デリバティブ取引約款, p.4
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose when they deal as principal against a client and identify that conflict in their conflicts policy. AI GOLD discloses it in the agreement and on the product page, but not in the conflict of interest policy itself.

AI GOLD is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page promising every measure for elderly clients sits above a contract that makes failing health an event of default.

Said in public, in Japanese

特にご高齢の委託者に対しては、より慎重な顧客管理が求められることから、高齢委託者保護管理規程を定め、委託者保護に万全を期しております。

Word for word in English: Because more careful customer management is required for elderly customers in particular, we have established elderly customer protection management rules and take every measure for customer protection.

Elderly client protection page, opening paragraph

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

In the contract · clause 第17条第1項(7)

心身機能の低下により、本取引の継続が著しく困難又は不可能になったとき。

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

02

Neither the 14.6% late payment charge nor the 550 yen withdrawal fee appears anywhere in the statutory pre contract document AI GOLD says states your fees.

Said in public, in Japanese

お客様にご負担いただく手数料は事前にお渡しする契約締結前交付書面に明記しており、またホームページでも開示しています。

Word for word in English: The fees you bear are clearly stated in the pre contract document handed to you in advance, and are also disclosed on our website.

Customer first business policy, section 3 on fee clarity

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

In the contract · clause 第22条

お客様が当社との間で行う本取引に関し、当社に対する債務の履行を怠った時は、履行期日の翌日から債務全額の支払いに至るまで年率 14.6％の割合による遅延損害金を当社は受け取ることができるものとします。

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

03

The fee page says commissions are free while the agreement takes 550 yen off small or frequent withdrawals.

Said in public, in Japanese

取引手数料は無料です。

Word for word in English: Trading commissions are free.

OTC commodity derivatives risk page, trading fee section

In the contract · clause 第13条第3項

取引口座からの出金する際の振込手数料は原則当社負担としますが、10,000 円未満の出金依頼および同月に６回以上の出金は、出金手数料 550 円を差し引いた額を出金するものとします。

04

The FAQ gives a firm 4 day outer limit and never mentions the clause that switches it off.

Said in public, in Japanese

日本の銀行営業日の15時までに、インターネットを通じたお客様からの出金依頼を受理したときは、原則として翌銀行営業日以内（最長 4 銀行営業日）に、お客様ご本人名義の金融機関口座へ返金いたします。

Word for word in English: Where we accept an internet withdrawal request by 15:00 on a Japanese bank business day, we will as a rule refund it to an account in your own name within the next bank business day (at most 4 bank business days).

MTcX FAQ, question on how long a withdrawal takes

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

In the contract · clause 第9条第6項

ただし、債権保全その他の事情により、当社が証拠金を維持する必要があると認めた場合はこの限りではありません。

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

05

Round the clock automated trading is the selling point, and putting load on the system is a ground for closing the account.

Said in public, in Japanese

EAを稼働させることにより、EAがお客様に代わって24時間レートの動きを監視・分析し、開発者が設定した取引手法に従って取引を自動で行います。

Word for word in English: By running an EA, the EA monitors and analyses rate movements around the clock on your behalf and trades automatically according to the trading method set by its developer.

MTcX FAQ, automated trading program section

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

In the contract · clause 第30条(6)

本システムに何らかの負荷等を与え、本システムの正常運用に支障をきたしたとき、またはそのおそれがあると当社が認めたとき

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aigold.co.jp

What changed quietly

This is our first reading of AI GOLD, so there is nothing yet to compare it against.

  • REWRITTENClause 第7条第1項(2) · before 2026.01.20 to 2026.01.20

    AI GOLD raised the upper age for opening a leveraged commodity account from under 75 to under 90.

    年齢が 20 歳以上 90 歳未満の行為能力を有する個人であること。

  • REWRITTENClause 第30条(14) · before 2026.01.20 to 2026.01.20

    The age at which AI GOLD must close an existing account moved from 75 to 90 in the same amendment.

    お客様が満 90 才以上となったとき

  • REWRITTENClause 第11条 · 2026.01.20 to 2026.05.13

    Telephone orders went from expressly forbidden to expressly allowed, which is the channel the wider spread advice course runs on.

    お客様が当社と行う本取引の注文、注文の訂正、注文の取消等は取引システムを通じて行う方法又は電話による方法とします。その他の手段による注文及びその訂正・取消は、本取引システムの障害時も含め原則出来ません。

  • ADDEDClause 第7条第1項(12) · 2026.01.20 to 2026.05.13

    A catch all account opening requirement was added, letting AI GOLD set any further condition it likes.

    その他当社が定める要件を満たすこと。

  • REWRITTENClause (11) カバー先の信用リスク · 2026.05.13 to 2026.08.24

    The most recent amendment only renamed one of the three liquidity providers, and changed nothing a client owes or is owed.

    フィリップ・キャピタル証券株式会社（商品先物取引業者：経済産業省20240430商第6号　農林水産省指令6新食第341号）

The documents this reading is based on

20 files, all published by AI GOLD. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording AI GOLD publishes.

How this reading was done

Every clause above was read out of a document AI GOLD publishes itself

This reading was published on .

Documents
15 of 20downloaded from the broker's site, and 15 read in full
Pages opened
22pages walked to find those documents, footer links included
Older copies
3earlier versions downloaded
Marketing pages
10public pages set against what the contract says

Who the contract is with

AI ゴールド証券株式会社

You contract with AI ゴールド証券株式会社, named in Article 1 of the trading agreement, at 12-8 Nihonbashi Hisamatsucho, Chuo, Tokyo. It is registered with the Kanto Local Finance Bureau as a financial instruments business operator, number 282, and belongs to the Japan Securities Dealers Association and the Financial Futures Association of Japan. On MTcX it is not passing your order to a market. Article 5 says it takes the other side of your trade itself, and the MTcX page repeats that. Its exchange traded business is routed through Phillip Capital Securities, but MTcX is AI GOLD's own book.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

AI GOLD publishes an old and new comparison table for every amendment, showing the exact wording before and after. Almost no broker does this, and it is what let us date the change that raised the trading age ceiling. Your margin sits in trust at SBI Clearing Trust, checked by an outside auditor, HLB Meisei. The firm names all three of its liquidity providers with their regulators. It states an outer limit of 4 bank business days on withdrawals, where most brokers give none. It also says plainly on the MTcX page that it takes the other side of your trade, and that slippage can move for or against you.

We read the trading agreement end to end, both comparison tables for the agreement, and every policy page on aigold.co.jp. We read part of the 24 page trading disclosure document: the risk, fee and order sections, not the whole file. We did not open the January 2026 agreement, the two earlier disclosure documents, or the May comparison table for the disclosure document. The warning notice about impersonation phone calls came through too poorly to quote, so we cite nothing from it. We could not see the client portal, so we could not check the withdrawal screen against Article 9. No earlier copies were available from an archive, so the dating rests on the broker's own comparison tables.

How to check any of this yourself

Every quote above links to the AI GOLD file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document AI GOLD publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge AI GOLD on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Aug 31, 2026.

If you represent AI GOLD and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on AI GOLD. Whether its licence is real and current is a separate check on the broker profile.

Back to the AI GOLD profile