Wikilix
Contract reading

What Ebury legally published, but does not want you to read

Every clause below is published by Ebury 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: Ebury Partners Markets Ltd

sole discretiondispute barrierwithdrawalscomplaint deadlinedeemed acceptancehidden feeconversion rateforum waiverjurisdictionmarketing gap

Ebury takes title to the margin you post. It does not sit in a segregated account, and if Ebury fails you are an ordinary creditor for it. Close out a trade and you owe any loss while Ebury keeps any profit. Everything Ebury can owe you in a year stops at £5,000. Chilean clients get five working days to report an unauthorised payment.

Back to Ebury

Contract risk

Money at risk
6.5/10

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.
43
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
3

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
Warning12
Notice2

section 344 of 359is where the deepest clause sits, 96% of the way into the document it is in

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.

1 of these 1 figures comes from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical5 working daysTime to complain. Jump to the clause this comes from.Five working days to report an unauthorised payment

What the documents say

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

01

Send Ebury margin on a forward contract and clause 23.4 makes it Ebury's property. Ebury does not hold it in a segregated account or in trust for you. You keep only an unsecured claim for the same amount.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

If Ebury fails, your margin is not money waiting for you in a client account. You join the queue of ordinary creditors for it. Clause 26 of the same agreement classifies you as a retail client.

Exhibit 1CriticalHarder than usual

In providing us with Margin, you agree that such monies (i) will become the absolute property of ours, free from any equity, right, title or interest of yours; (ii) may be used by us in the ordinary course of our business, including without limitation to cover any exposure we may have to a third party liquidity provider with whom we have entered into transactions to hedge our exposure; (iii) will not be maintained by us in a segregated account; (iv) shall not be subject to a trust, deemed or otherwise, in your favour and (v) represents an unsecured claim against us for an amount equal to such
Clause 23.4 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC must not take title to a retail client's collateral, and must hold client money in segregated accounts. This agreement classifies you as a retail client and takes title to your margin.

Ebury 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 CallEbury decides on its own how much margin you must send.23.2
Within 24 hoursYou must transfer the margin, or by the later date on the Margin Call Receipt.23.3
On receiptThe money becomes Ebury's own property and sits outside the segregated accounts.23.4
If Ebury uses itYou must restore the margin immediately when Ebury asks.9.2
If you do not restore itEbury can close out your trades, charge you any loss and keep any profit.25.2
  • Worse together with Exhibit 3Ebury owns the margin outright and keeps any profit from closing the trade that margin was securing.
  • Worse together with Exhibit 15The margin sits outside the segregated accounts and no compensation scheme stands behind it.
02

Chilean clients get five working days to tell Ebury that a payment left their account without authorisation. Clause 15.2 says Ebury does not have to refund it after that. The five days run from the payment date, not from the day you find out.

Why this matters

A payment made while you are away, or one you only see on a month end reconciliation, is yours to absorb. The same group gives its Dubai clients six months for the same complaint.

Exhibit 2CriticalRarely seen5 working days

si el Cliente no reclama ni comunica a Ebury la existencia de un Pago no autorizado en un plazo de cinco (5) Días Laborales desde la fecha del Pago correspondiente.
Clause 15.2(d) in Ebury Partners Chile SpA - Terminos y Condiciones - Clientes Corporativos
Read from the broker's site on Open the reference

Buried at section 224 of 359 in the Ebury Partners Chile SpA - Terminos y Condiciones - Clientes Corporativos, 62% of the way through.

Set against a regulated standard: FCA (UK)

Firms under the FCA's payment services rules must give a payment service user 13 months to report an unauthorised or wrongly executed payment. That period can be shortened by agreement with a business client. Ebury Partners Chile SpA sets it at five working days.

Ebury is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 10An instruction from a connected app counts as yours, and five working days is all you have to say it was not.
03

Ebury can close out your trades and buy back the currency at any market rate available to it, under clause 25.2. You owe any loss that produces. Ebury keeps any profit.

Why this matters

The outcome of a close out can only go one way for you. Clause 12.3 repeats it on termination. There Ebury need not even count its own profit when it works out what to pay you.

Exhibit 3CriticalHarder than usual

we will buy-back/sell the currency that we have sold/bought for you in connection to the relevant Trade(s) at any market rate that is available to us. If we incur any Loss you will be liable to us for the amount of that Loss (as well as any costs incurred by us);
Clause 25.2(b) in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 5A close out loss on a sister company's account can be taken out of your balance.
04

Ebury's total liability to you is £5,000 for any twelve month period, under clause 7.7. That covers negligence, breach of contract and misrepresentation together. Your own indemnity to Ebury in clause 8.1 has no cap.

In plain words

Indemnities are money it says you owe it.

Why this matters

If Ebury mishandles a payment of any size, £5,000 is the ceiling on what you can recover. You still carry every loss Ebury suffers while carrying out your instructions.

Exhibit 4CriticalHarder than usual$5000

whether for negligence, breach of contract, misrepresentation or otherwise arising out of or in connection with this Agreement, in aggregate for any consecutive 12-month period shall be £5,000.
Clause 7.7(b) in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

Firms under the FCA's payment services rules must refund the full amount of an unauthorised or incorrectly executed payment to a payment service user. Those protections can be disapplied by agreement with a business client. This agreement replaces them with a £5,000 annual ceiling.

Ebury is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7You have six months to report a payment error, and £5,000 is the most that year can return to you.
05

Ebury can treat your affiliates as having signed the same contract without them signing anything, under clause 4.3. Clause 4.4 makes you warrant that your signature binds them. Clause 12.5 then lets Ebury set off what any of them owes any Ebury company against your money.

Why this matters

A debt your sister company runs up with a different Ebury entity can come out of your balance. Ebury does not have to give you notice before it does that.

Exhibit 5CriticalRarely seen

we may (in our sole discretion) provide Services to such Affiliate(s) on the basis that such Affiliate(s) shall be deemed to have entered into an agreement (the "Affiliate Agreement") with us which is identical to this Agreement
Clause 4.3 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 6Ebury can hold a payment due to you while it works out what a group company owes it.
06

Ebury can suspend the payment of any amount already due to you, with no notice, under clause 4.5. It needs only to consider, in its sole and absolute discretion, that one of the events in clause 11.2 applies. One of those is that you present a business risk to Ebury.

Why this matters

Money you are owed can sit where it is while Ebury forms a view, and clause 15.18 puts no outer limit on an investigation. Clause 17.3 promises notice of an account suspension, but clause 4.5 needs none.

Exhibit 6CriticalHarder than usual

we may without giving notice to you, suspend: (a) the provision of all or any Services to you under this Agreement; (b) the payment of any amount which has become due and payable from us to you; and/or (c) any debit or credit entries being made to your General Client Account.
Clause 4.5 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 11A document request you have not yet satisfied is enough on its own to keep the account switched off.

Two things the website offers that the contract rules out

Ebury's Embedded Finance page offers platforms fiat to crypto on and off ramping, and clause 19.7 lists cryptocurrencies among the business Ebury will not support. The hedging page says you can follow your trades at any time on the platform. Clause 7.3 lets Ebury withdraw your access at any time for any reason.

Page against contract2 clauses flagged

Ebury's Embedded Finance page offers platforms fiat to crypto on and off ramping. Clause 19.7 of the client agreement lists cryptocurrencies among the Excluded Business Ebury will not support.

Why this matters

If you build on that promise, the contract you sign bars the service. The page footer says availability varies by entity, so ask which Ebury company would sign for it.

Exhibit 19WarningStandard wording

We will not make General Client Account details available to businesses or provide any Service to support transactions which involve directly or indirectly or relate to online gambling, pornography, firearms, illegal drugs and paraphernalia, prescription drugs from unlicensed or online pharmacies, forged documents, products infringing copyrights or counterfeit goods, payday Loans and pawn shops, cryptocurrencies, or any activity that Ebury deems is illegal on contrary to Applicable Laws ("Excluded Business").
Clause 19.7 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference

Ebury tells hedging customers they can track their policies and trades at any time on its online platform. Clause 7.3 lets Ebury revoke your access at any time for any reason. Clause 7.2 supplies the platform as is and as available.

Why this matters

Your hedge position is visible only while Ebury chooses to show it to you. Clause 7.2 also excludes any warranty as to the accuracy of what you see there.

Exhibit 20WarningStandard wording

You acknowledge that your use of the Online System and App is at Ebury's sole discretion and that your license to use the Online System and App in connection with this Agreement can be revoked at any time and for any reason by Ebury, in its sole and absolute discretion.
Clause 7.3 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
Our own capture of ebury.com, taken on Oct 6, 2026The claim, on Hedging Policies page, frequently asked questionsThis 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

Ebury's price list is not in its published terms

Ebury's price list sits outside the published terms altogether. Clause 15.4 says the fee sheet reached you separately and can be updated whenever Ebury decides. Clause 19.4 converts money arriving in another currency at Ebury's own rate and puts any loss on you. A cancelled trade comes back at whatever rate applies that day.

Cost disclosure3 clauses flagged

Ebury sets its fees at its own discretion and keeps the price list out of the contract. Clause 15.4 says the fee sheet was given to you separately and can be updated and re-sent whenever Ebury chooses.

Why this matters

You cannot compare Ebury's charges with another provider before you sign, because the numbers are not published anywhere. Clause 15.4 does promise you the fee for each order at the time you place it.

Exhibit 9WarningHarder than usual

We may impose fees or charges for our Services, including a fee for the use of a General Client Account and/or on a per Trade, Order or Payment Order basis, at our discretion. Information on our fee structure is included in the fee sheet which has been separately provided to you (as may be updated by us and sent to you in writing from time to time).
Clause 15.4 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must set out their costs and charges to a client before the client trades. This agreement puts the fee sheet outside the published documents and lets Ebury change it in writing later.

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

Receive money in a currency your account does not hold and Ebury converts it at its own conversion rate. Clause 19.4 says Ebury is not responsible for any loss you take on that exchange. No rate card sits in the contract.

Why this matters

The margin inside that rate is the cost, and you cannot see it or check it. A Bulgarian page sells the same service on low exchange fees.

Exhibit 10WarningHarder than usual

If you receive funds in a currency different from your General Client Account, these funds will be converted into the relevant currency at our relevant currency conversion rate. Ebury and its Affiliates will not be responsible for any Losses you may incur as a result of this exchange.
Clause 19.4 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 9No published fee sheet and no published rate card leaves the conversion margin impossible to check.

Cancel a trade after Ebury has your money and clause 21.5 returns it at whatever rate applies at that moment. The amount back can be less than the amount you sent. Ebury refunds none of the fees and may charge you again to cancel.

Why this matters

The market move between your payment and the cancellation is yours, in either direction. Correcting a typo in the beneficiary details can also carry a fee under clause 21.1.

Exhibit 11WarningHarder than usual

the amount returned will be subject to the then subsisting foreign exchange rate and/or spread (which may result in such returned amount being more or less than the original Payment Amount);
Clause 21.5(a) in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference

Ebury can end the relationship on its own view of the risk

Ebury can end the agreement on any day, with immediate effect and no notice, if it considers that you present a business risk. Clause 11.2 gives it fifteen other grounds, several of which are matters of opinion. In Chile, clause 17.2 makes a connected app's instructions effective as yours whether or not you authorised them.

Exit conditions2 clauses flagged

Connect a third party provider to your Chilean account and clause 17.2 makes its instructions effective as if you had given them. That holds whether or not you authorised them. The provider can also see every transaction and every piece of data in the account.

Why this matters

The same clause has you expressly waive any duty of confidentiality, data protection or professional secrecy over that access. A payment you never asked for then leaves you five working days to say so.

Exhibit 12WarningRarely seen

el Cliente acepta que Ebury permita dicho acceso, instrucciones y solicitudes como si el Cliente mismo los hubiera proporcionado o entregado, y que estos serán efectivos como si el Cliente mismo los hubiera dado, tanto si los ha autorizado como si no.
Clause 17.2 in Ebury Partners Chile SpA - Terminos y Condiciones - Clientes Corporativos
Read from the broker's site on Open the reference

Buried at section 231 of 359 in the Ebury Partners Chile SpA - Terminos y Condiciones - Clientes Corporativos, 64% of the way through.

Ebury can end the agreement on any day with immediate effect and no notice, on its sole and absolute discretion. Clause 11.2 includes your conduct being capable of damaging Ebury's reputation, your no longer being suitable, and your presenting a business risk.

Why this matters

None of those grounds has a test you can meet or argue with. Either side can also leave on five business days' notice under clause 11.1, which is the part that cuts both ways.

Exhibit 14WarningHarder than usual

We may terminate this Agreement on any day with immediate effect, without giving notice to you, if we consider (in our sole and absolute discretion):
Clause 11.2 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference

The clock on every complaint is Ebury's, and it is short

Five working days is all Ebury Partners Chile SpA gives you to report a payment you never authorised. The Dubai company allows six months for a payment error and one hour to object to a trade confirmation. Whatever Ebury does owe you stops at £5,000 for any twelve month period, while your own indemnity to Ebury carries no ceiling.

Time to object2 clauses flagged

Report an error in a payment order within six months or clause 16.1 ends Ebury's duty to look at it. After that Ebury has no obligation to investigate, to act or to refund.

Why this matters

A duplicate or misdirected payment you find in an annual audit is already out of time. You lose the refund for an unauthorised payment on the same six month clock.

Exhibit 7WarningHarder than usual

In the event that you identify an error in a Payment Order, you must notify us in writing as soon possible after becoming aware of the error, in any case, no later than six months after the date the Payment Order was executed; after which time we will have no obligation to investigate or act upon your notification or provide a refund.
Clause 16.1 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

Firms under the FCA's payment services rules must allow a payment service user 13 months to report an unauthorised or wrongly executed payment. That period can be shortened by agreement with a business client. This agreement halves it.

Ebury is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Check your transaction receipt within one hour or clause 20.4 treats you as having agreed to it. Making the payment also counts as agreement. You cannot cancel a trade once you have placed it.

Why this matters

A wrong rate or a wrong beneficiary on the receipt becomes your problem after sixty minutes. The Chilean wording goes further and bars any objection or exception of any kind.

Exhibit 8WarningHarder than usual

If we do not hear from you within the timeframe above or if you make the relevant Payment, you understand and agree that you will be deemed to have agreed with the Transaction Receipt and/or the Payment Instruction.
Clause 20.4 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference

A Ugandan business suing Ebury has to do it in London

A Ugandan business that wants to sue Ebury's Dubai company has to do it in the English courts, under clause 31.2. Clients of that same company on the main DIFC agreement go to the DIFC courts instead. Chilean clients go to arbitration in Santiago, decided in a single instance with no appeal.

Where you sue2 clauses flagged

A Ugandan business contracting with Ebury's Dubai company must bring any claim in the English courts. Clause 31.2 makes that jurisdiction exclusive and waives your objection to it.

Why this matters

Travel, English lawyers and English court costs stand between you and any claim worth less than they are. Clients of the same Dubai company on the main agreement get the DIFC courts instead.

Exhibit 16WarningHarder than usual

Each party irrevocably agrees that the courts of England shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).
Clause 31.2 in Ebury Partners (DIFC) Limited - Relationship Agreement - Ugandan clients
Read from the broker's site on Open the reference

Chilean clients take any dispute to arbitration at the Santiago Chamber of Commerce. Clause 28.12 has the arbitrator decide in a single instance with no further appeal.

Why this matters

One decision ends the matter, and a wrong one cannot be taken to a higher court. Arbitration on these terms is the normal pattern for commercial contracts in Chile.

Exhibit 17NoticeStandard wording

El árbitro será mixto, esto es, actuará como árbitro de derecho en el fallo y como arbitrador en el procedimiento, resolviendo en única instancia, sin ulterior recurso
Clause 28.12 in Ebury Partners Chile SpA - Terminos y Condiciones - Clientes Corporativos
Read from the broker's site on Open the reference

Buried at section 344 of 359 in the Ebury Partners Chile SpA - Terminos y Condiciones - Clientes Corporativos, 96% of the way through.

Your account stays switched off until your documents satisfy Ebury

Ebury can switch your account off until your identification documents arrive in a form it finds satisfactory. Clause 30.4 of the Ugandan agreement sets no deadline, no limit on what can be requested and no appeal. Your balance waits where it is in the meantime.

Paperwork hold1 clause flagged

Ebury can suspend the use of your account until you have supplied identification documents in a form it finds satisfactory. Clause 30.4 of the Ugandan agreement sets no deadline and no limit on what can be asked for.

Why this matters

Your balance stays where it is while the paperwork goes back and forth, and Ebury decides when it is enough. Nothing in the clause gives you a timeframe or an appeal.

Exhibit 13WarningStandard wording

We may suspend the availability or use of the General Client Account until all required identification information has been provided in a form satisfactory to us.
Clause 30.4 in Ebury Partners (DIFC) Limited - Relationship Agreement - Ugandan clients
Read from the broker's site on Open the reference

Ebury need not tell you what it stands to gain from your trade

Ebury is the other side of every currency trade it does with you and sets the spread it applies. Clause 27.2 says an interest Ebury or a group company holds in that service may not be disclosed to you before each transaction. Ebury's own group policy promises a written disclosure where a conflict cannot be managed.

Both sides of the trade1 clause flagged

Ebury or a group company can hold an interest in the service it sells you. Clause 27.2 says that interest may not be disclosed to you before each transaction. Clause 15.6 also lets Ebury take a benefit from an affiliate or a third party on your trade.

Why this matters

Ebury is the other side of your currency trade and sets the spread it applies. Ebury's own conflicts policy promises a written disclosure where a conflict cannot be managed, which the agreement does not.

Exhibit 18WarningHarder than usual

Please note that such an Interest may not be separately disclosed to you before or each time you enter into any transaction or arrangement or upon the advice or recommendation from us.
Clause 27.2 in Ebury Partners DIFC Limited Relationship Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose the general nature and sources of a conflict of interest to a client before acting. Ebury's group policy commits to exactly that. The client agreement says an Interest may not be separately disclosed.

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

No compensation scheme covers the balance you hold with Ebury

Ebury states in its own contracts that it is not a deposit taking institution and that no deposit protection covers your funds. The Chilean terms say the same about the state deposit guarantee, and the Dubai terms note that the UAE runs no guarantee scheme. Which Ebury company you contract with depends on where your business sits, and the terms differ between them.

Who holds your money1 clause flagged

Ebury states in its own agreements that it is not a deposit taking institution and that no deposit protection covers your funds. The Chilean terms say the same about the state deposit guarantee.

Why this matters

If Ebury or the bank holding the money fails, no compensation scheme pays you out. Ebury states this in the contract, which many firms do not.

Exhibit 15NoticeStandard wording

We are not a deposit taking or lending institution in the Specified Jurisdiction and we are not subject to any deposit protection.
Clause 14.4 in Ebury Partners (DIFC) Limited - Relationship Agreement - Kenyan clients
Downloaded from the broker's site on Open the reference

Where the marketing and the contract disagree

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

01

The product page sells crypto on and off ramping while the client agreement lists cryptocurrencies among the businesses Ebury will not serve.

Said in public, in English

Deploy virtual IBANs and automated FX rails within exchanges to provide users with seamless, compliant fiat-to-crypto on/off-ramping and instant currency conversion.

Embedded Finance product page, Fintech and digital assets use case

In the contract · clause 19.7

We will not make General Client Account details available to businesses or provide any Service to support transactions which involve directly or indirectly or relate to online gambling, pornography, firearms, illegal drugs and paraphernalia, prescription drugs from unlicensed or online pharmacies, forged documents, products infringing copyrights or counterfeit goods, payday Loans and pawn shops, cryptocurrencies, or any activity that Ebury deems is illegal on contrary to Applicable Laws ("Excluded Business").

02

The Bulgarian page advertises low exchange fees while the contract sets the conversion rate itself, publishes no rate card and puts any loss from the conversion on you.

Said in public, in BG

Надеждни преводи с ниски такси за валутна обмяна.

Word for word in English: Reliable transfers with low currency exchange fees.

Bulgarian payments and collections page, international transfers panel

In the contract · clause 19.4

If you receive funds in a currency different from your General Client Account, these funds will be converted into the relevant currency at our relevant currency conversion rate. Ebury and its Affiliates will not be responsible for any Losses you may incur as a result of this exchange.

03

The page promises you can follow your hedges at any time, and the contract lets Ebury withdraw your access to that platform at any time for any reason.

Said in public, in English

Yes, you can track the performance of your policies and trades anytime using an online platform.

Hedging Policies page, frequently asked questions

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

In the contract · clause 7.3

You acknowledge that your use of the Online System and App is at Ebury's sole discretion and that your license to use the Online System and App in connection with this Agreement can be revoked at any time and for any reason by Ebury, in its sole and absolute discretion.

The documents this reading is based on

43 files, all published by Ebury. 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 Ebury publishes.

How this reading was done

Every clause above was read out of a document Ebury publishes itself

This reading was published on .

Documents
8 of 43downloaded from the broker's site, and 8 read in full
Pages opened
80pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
BG vs ENthe language it advertises in, against the language it contracts in
Position measured
3clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Ebury Partners Markets Ltd

There is no single Ebury you contract with. The group publishes separate agreements for at least a dozen companies, and the one that binds you depends on where your business sits. This review covers the agreements of Ebury Partners DIFC Limited, which states it is regulated by the DFSA as a Money Service Provider under number F007626, and of Ebury Partners Chile SpA. The terms are not the same between them: the Dubai company gives you six months to report a payment error, and the Chilean company gives you five working days.

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

Ebury publishes a product and risk disclosure for each structured currency product, and it lists the disadvantages next to the advantages. The leveraged target accrual forward document says that the deal can double what you must transact and that it raises the risk of a margin call. The Swiss hedging page rates the chance of a margin call for each programme before you ask. Clause 16.3 caps your own liability for an unauthorised payment at £35 and promises a refund within three business days. Clause 15.6 commits Ebury to telling you once a year what it actually received from third parties on your business. The Bulgarian complaints policy names the national payment disputes body with its address and email, and promises a full answer in 15 working days. No dormancy or inactivity fee appears in any of the agreements reviewed, and the Chilean contract carries its fee annex inside the contract.

This review covers three of Ebury's contracts in full: the DIFC relationship agreement (v2.0), its Ugandan version and the Chilean corporate terms. It covers the Kenyan version up to its data protection clause. Every clause quoted here comes from those four, from the group conflict of interest policy, or from the Cyprus product risk disclosures. Every quoted marketing claim comes from Ebury's own pages. The review does not cover the UK, Belgian, Swiss, Lithuanian, Australian, Canadian, Hong Kong, Mexican or Cyprus relationship agreements, so it does not describe the terms a UK or European client signs. The French anti-slavery policy would not open, and the knock-out product disclosure is covered only in part. The DIFC agreements point clients to a complaints policy on a separate Ebury website, which this review does not cover. No earlier version of any of these documents is available for comparison.

How to check any of this yourself

Every quote above links to the Ebury 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 Ebury 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 Ebury 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 Oct 6, 2026.

If you represent Ebury 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 Ebury. Whether its licence is real and current is a separate check on the broker profile.

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