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Contract reading

What Global Next Trade legally published, but does not want you to read

Every clause below is published by Global Next Trade 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: GNT Capital LTD

sole discretionhidden feedispute barriermarketing gapcurrency conversiondeemed acceptancedormancykyc freezeunilateral amendmentwithdrawals

Global Next Trade's marketing says it routes your trades to outside liquidity providers and removes conflicts of interest. Its contract says GNT Capital LTD is the counterparty to every trade you make. The same contract lets it lend your money out and claim profits it decides came from bad prices. It also treats your account statement as final five business days after you could have read it.

Back to Global Next Trade

Contract risk

Money at risk
8.2/10

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.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
6
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
5

How the 17 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
Warning9
Notice2

section 59 of 59is where the deepest clause sits: the very end of 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 3 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 business days to object, then the statement is final$50In the contract. Jump to the clause this comes from.The homepage says no hidden fees, clause 12 says $50$50Fee on an unused account. Jump to the clause this comes from.A $50 dormant account fee after six months

What the documents say

17 clauses worth knowing about, worst first, each quoted from Global Next Trade's own files

01

GNT Capital LTD is the counterparty to every trade you make, which clause 1 of the customer agreement states outright. Its sales pages say the opposite: that it sends trades straight to outside liquidity providers to remove conflicts of interest.

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.

Liquidity providers are outside banks and brokers.

Why this matters

When you lose, GNT Capital is the one that gains, because your trade never leaves the firm. Clause 2 also lets it execute your orders with itself unless you object in writing first.

Exhibit 1CriticalStandard wording

The Client further acknowledges that, subject to the terms and conditions set forth herein, GNT CAPITAL LTD will act as counterparty to all transactions entered into under this Agreement.
Clause Customer agreement, clause 1 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of gntcapital.com, taken on Oct 7, 2026The claim, on About Global Next Trade page, Who we are sectionVisit this page on the broker's siteDownload the full size image file
Our own capture of globalnexttrade.com, taken on Oct 7, 2026What the contract says, clause Customer agreement, clause 1Visit this page on the broker's siteDownload the full size image file
Our own capture of gntcapital.com, taken on Oct 7, 2026The claim, on Spanish About page, Quiénes somos 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 globalnexttrade.com, taken on Oct 7, 2026What the contract says, clause Customer agreement, clause 2Visit this page on the broker's siteDownload the full size image file

Where it sits: section 31 of 59 in the Terms & Conditions, 53% of the way through.

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

Firms licensed by the FCA and CySEC must publish a conflicts of interest policy and tell a retail client when the firm deals on its own account against them. GNT Capital states it is your counterparty in clause 1 and publishes no conflicts of interest policy.

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

  • Worse together with Exhibit 3GNT Capital quotes the price, takes the other side of the trade, and can then claim back profit it decides came from a price of its own that was wrong.
02

You grant GNT Capital LTD the right to pledge, mortgage, invest or lend your money, to itself or to anyone else. Clause 9 lets it mix your property with other clients' property to do so. No document says your money sits in a separate client account.

Why this matters

Money you deposit is not ring-fenced from GNT Capital's own business. Clause 9 also gives it a claim over everything in your accounts, and lets it move funds between them without telling you.

Exhibit 2CriticalRarely seen

The Client also hereby grants to GNT CAPITAL LTD the right to pledge, re-pledge, mortgage, invest or lend, whether separately or with the ownership of other Clients, to itself as a broker or to others, any securities or other property of the Client that GNT CAPITAL LTD has as margin or guarantee.
Clause Customer agreement, clause 9 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of gntcapital.com, taken on Oct 7, 2026The claim, on Spanish homepage, Totalmente regulado (Fully regulated) panelThis 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 globalnexttrade.com, taken on Oct 7, 2026What the contract says, clause Customer agreement, clause 9Visit this page on the broker's siteDownload the full size image file
Our own capture of gntcapital.com, taken on Oct 7, 2026The claim, on English homepage, Fully regulated panelThis 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 globalnexttrade.com, taken on Oct 7, 2026What the contract says, clause Customer agreement, clause 9Visit this page on the broker's siteDownload the full size image file

Buried at section 39 of 59 in the Terms & Conditions, 66% of the way through.

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

Firms licensed by the FCA and CySEC must hold retail client money in segregated accounts and may not use it for their own account. Clause 9 does the reverse: you grant GNT Capital the right to lend and pledge your property, including to itself.

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

Our readingPledging and lending a client's assets is a device used between institutions, where both sides are banks. In a retail trading agreement it means the money you deposited can stand as security for someone else's borrowing, and it sits in a contract that names no separate client account.

  • Worse together with Exhibit 6Your assets can be lent out while your positions are closed without a margin call, and you still owe whatever is left unpaid.
03

GNT Capital LTD can take back any trading profit it decides you made on delayed or inaccurate prices. Clause 5 does not define either word, set a limit on the amount, or give you an appeal.

Why this matters

GNT Capital quotes the prices itself, so it also decides when its own price was wrong. It can reverse a winning run after the fact, and nothing in the contract sets a deadline after which it cannot.

Exhibit 3CriticalHarder than usual

The client understands that GNT CAPITAL LTD is authorized to claim any trading profits made by trading delayed or inaccurate prices.
Clause Customer agreement, clause 5 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of globalnexttrade.com, taken on Oct 7, 2026Profits from prices GNT Capital calls wrong can be taken (clause Customer agreement, clause 5)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 35 of 59 in the Terms & Conditions, 59% of the way through.

  • Worse together with Exhibit 4A balance reduced this way has to be challenged within five business days, or clause 11 treats it as correct.
04

You get five business days to object in writing to a trade confirmation or a statement. After that, clause 11 treats the figures as correct and binding on you. Your silence counts as approval of everything GNT Capital LTD did.

Why this matters

The clock starts when the activity becomes viewable online, not when you look. Miss those five business days and you have agreed to the numbers, including any balance change you had not noticed.

Exhibit 4CriticalHarder than usual5 working days

transaction confirmations and account statements, available only online, will be deemed correct and accurate, and will be conclusive and binding on the Customer if not immediately objected in writing to accounts@gntcapital.com, within five (5) business days after said activity is reviewable online.
Clause Customer agreement, clause 11 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of globalnexttrade.com, taken on Oct 7, 2026Five business days to object, then the statement is final (clause Customer agreement, clause 11)Visit this page on the broker's siteDownload the full size image file

Buried at section 42 of 59 in the Terms & Conditions, 71% of the way through.

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

Firms licensed by the FCA and CySEC must run a complaints procedure and tell a retail client they can take an unresolved complaint to an independent ombudsman. GNT Capital gives you five business days to object, and publishes no complaints procedure.

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

05

GNT Capital LTD can delay, cancel or postpone any withdrawal, whatever the amount, until you have sent identity and address documents. Clause 14 then lets it ask for more documents after it has received those, with no list and no deadline.

Why this matters

Your money stays with GNT Capital while it decides whether your paperwork is enough. Nothing in the contract or the refunds policy sets an outer limit on how long that can take.

Exhibit 5CriticalHarder than usual

The Client further agrees that GNT CAPITAL LTD has the authority to delay, cancel or otherwise postpone transactions or the deposit/withdrawal of funds, regardless of the amount, until the Client has provided copies of identification documents and/or verification of current government-issued address, as required.
Clause Customer agreement, clause 14 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of globalnexttrade.com, taken on Oct 7, 2026A withdrawal can be cancelled until your documents satisfy GNT Capital (clause Customer agreement, clause 14)Visit this page on the broker's siteDownload the full size image file

Buried at section 46 of 59 in the Terms & Conditions, 78% of the way through.

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

Firms licensed by the FCA and CySEC must complete identity checks when the account is opened, and must return client money promptly when a client asks for it. This contract lets GNT Capital cancel a withdrawal of any size, then ask for further documents it does not list.

Global Next Trade 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
Withdrawal request submittedGNT Capital can ask for anti-money-laundering and identity documents first.
Documents receivedGNT Capital can ask for more documents to verify you again.Customer agreement, clause 14
Request accepted and approvedPayment is processed within one business day, in principle.
Documents not satisfactoryGNT Capital can delay the request, and no end date is set for that.
  • Worse together with Exhibit 13The data you must hand over to free a withdrawal is the same data you cannot refuse to share without GNT Capital closing the account.
06

GNT Capital LTD can close every position in your account without a margin call and without telling you first. Clause 10 lets it act on any circumstance it decides is appropriate for its own protection. Whatever is left owing after that, you pay.

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

A loss bigger than your deposit becomes a debt you owe GNT Capital, with interest and collection costs on top. The contract offers no negative balance protection, which is the write-off that stops a retail account going below zero.

Exhibit 6CriticalHarder than usual

Any of the above actions may be taken without margin call or additional margin, without prior notice of sale or purchase or other notice to the Client, the Client's personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest will be solely with the Client or will be held jointly with others.
Clause Customer agreement, clause 10 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of globalnexttrade.com, taken on Oct 7, 2026Positions closed with no margin call, and you owe the rest (clause Customer agreement, clause 10)Visit this page on the broker's siteDownload the full size image file

Buried at section 40 of 59 in the Terms & Conditions, 68% of the way through.

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

Firms licensed by the FCA and CySEC, and others under ESMA rules, must give retail CFD clients negative balance protection, so a client cannot lose more than the money in the account. This contract makes you responsible for any remaining deficit, with interest charged on it.

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

The homepage promises no hidden fees while clause 12 carries a $50 one

Global Next Trade's homepage says tight spreads, no hidden fees and clear costs upfront, in English and in Spanish. Clause 12 of the contract charges a $50 dormant account fee after six months without trading. The account comparison table does not mention it anywhere. The same clause lets GNT Capital change its charges without notice.

Cost claims1 clause flagged

Global Next Trade promises tight spreads, no hidden fees and clear costs upfront, on the English and Spanish homepages. Clause 12 of the contract charges a $50 dormant account fee after six months, and the account comparison table never mentions it.

Why this matters

The page you compare brokers on does not carry the one fee that applies when you stop trading. You would only find the $50 by reading to clause 12 of the contract.

Exhibit 7WarningHarder than usual$50

Funded accounts that remain inactive for a period of six (6) months will be charged a dormant account fee of $50.00 USD.
Clause Customer agreement, clause 12 in Terms & Conditions
Read from the broker's site on Open the reference
Our own capture of gntcapital.com, taken on Oct 7, 2026The claim, on English homepage, Transparent pricing panelThis 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 globalnexttrade.com, taken on Oct 7, 2026What the contract says, clause Customer agreement, clause 12Visit this page on the broker's siteDownload the full size image file

Buried at section 43 of 59 in the Terms & Conditions, 73% of the way through.

  • Same clause as Exhibit 8The fee the homepage leaves out is the same clause 12 charge, taken from a funded account that has gone quiet.

The fee schedule is not on the website, and the charges can change without notice

Clause 12 says transaction fees sit on page 4 of 7 of certain trading platforms, a page Global Next Trade does not publish. The same clause lets GNT Capital LTD adjust its charges without prior notice. Clause 15 lets it convert your currency at a rate it sets itself.

Cost disclosure1 clause flagged

GNT Capital LTD can adjust its charges without prior notice and deduct them from your account as they are incurred. Clause 12 points to a transaction fee schedule on page 4 of 7 of certain trading platforms, which the website does not carry.

Why this matters

You cannot check what a trade costs before you place it, because the list the contract points to is not on the site. Clause 15 also lets GNT Capital convert your money at a rate it sets itself.

Exhibit 9WarningHarder than usual

Transaction fees can be found per trade on page 4 of 7 of certain trading platforms.
Clause Customer agreement, clause 12 in Terms & Conditions
Read from the broker's site on Open the reference

Buried at section 43 of 59 in the Terms & Conditions, 73% of the way through.

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

Firms licensed by the FCA and CySEC must give a retail client the costs and charges of a trade before that client trades. This contract lets GNT Capital adjust its charges without prior notice and keeps the fee schedule off the website.

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

A one business day payout target sits behind a document check with no end date

The refunds policy puts the processing target at one business day, in principle, for requests GNT Capital LTD has accepted and approved. Clause 14 lets it delay, cancel or postpone any withdrawal of any size until documents satisfy it, then ask for more. Card deposits come back to the card, capped at what you paid in.

Exit conditions1 clause flagged

Profits on a card-funded account return to the same card only up to the amount you deposited, and the rest goes by wire transfer. GNT Capital LTD also reserves the right to refund a card deposit instead of paying a withdrawal.

Why this matters

If your card has expired or the account behind it is closed, your money is waiting on a route that no longer exists. GNT Capital can also switch the payout to US dollars by a method it picks. The exchange rate and the receiving bank's fees are then yours.

Exhibit 10WarningStandard wording

GNT Capital LTD Forex reserves the right to refund any deposit made by credit card in lieu of a withdrawal.
Clause Terms and Conditions, Pay in Terms & Conditions
Read from the broker's site on Open the reference

Where it sits: section 5 of 59 in the Terms & Conditions, near the start.

GNT Capital can liquidate, close or amend first and tell you afterwards

Clause 10 lets GNT Capital LTD close every position with no margin call and no notice, then bills you for any shortfall. The electronic commerce agreement lets it cut off your access at its sole discretion, for any reason. Clause 25 says an email to the address you registered satisfies every notice the contract requires.

Control of the account2 clauses flagged

GNT Capital LTD can cut off your access to its trading systems at its sole discretion, without notice and for any reason. It can also change the agreement by sending an email to the address you registered.

Why this matters

You can be locked out of the platform while a position is open, and the contract asks for no reason and no warning. A changed term reaches you as an email. The cookie policy treats carrying on using the site as your agreement to any change.

Exhibit 12WarningHarder than usual

GNT CAPITAL LTD reserves the right to terminate User's access to the Systems at its sole discretion, without notice and without limitation, for any reason
Clause Electronic Commerce Agreement, paragraph (b) in Terms & Conditions
Read from the broker's site on Open the reference

Where it sits: section 23 of 59 in the Terms & Conditions, 39% of the way through.

Global Next Trade's own footer says its services are not meant for people in the United States, Spain or Canada. The Spanish signup form still offers España, Estados Unidos and Canadá in its country of residence list.

Why this matters

Opening an account from one of those three countries puts you outside what the broker says it serves. Clause 17 also has you promise that you are not a United States resident. A promise you cannot keep gives GNT Capital a reason to unwind your account later.

Exhibit 17NoticeStandard wording

Our services, in compliance with the legal and regulatory frameworks of the jurisdictions in which we operate, are not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would contravene local laws, particularly in the United States, Spain and Canada.
Clause Site footer disclaimer in Terms & Conditions
Read from the broker's site on Open the reference

Buried at section 49 of 59 in the Terms & Conditions, 83% of the way through.

Five business days, and then your statement is beyond challenge

Clause 11 gives you five business days to object in writing to a statement or a trade confirmation. After that the figures bind you, and your silence counts as approval. GNT Capital also treats its own recordings as conclusive evidence, and clause 26 says it destroys them at regular intervals.

Complaint window1 clause flagged

GNT Capital LTD treats its recordings of your calls as conclusive evidence of what was said. Clause 26 says it destroys those recordings at regular intervals, and the privacy policy tells you not to rely on them being available.

Why this matters

The only record of a phone instruction belongs to GNT Capital, counts against you, and may be gone by the time you need it. Clause 13 also limits what GNT Capital answers for to gross negligence, willful default or fraud.

Exhibit 14WarningHarder than usual

Such recordings shall be and remain our exclusive property and you shall accept them as conclusive evidence of their content as recorded by us.
Clause Recording phone conversations, paragraph 2 in Privacy Policy
Read from the broker's site on Open the reference

Buried at section 58 of 59 in the Privacy Policy, 98% of the way through.

Disputes go to arbitration in the Cayman Islands, on paper only, within one year

Clause 22 sends every dispute to arbitration in the Cayman Islands under Cayman law, with no oral hearing and no oral argument. You waive the right to move the case anywhere else. You also lose the right to start arbitration more than one year after the trade, whenever you find out about it.

Where you would have to sue1 clause flagged

Any dispute with GNT Capital LTD goes to arbitration in the Cayman Islands, decided on documents alone. Clause 22 rules out oral hearings and oral arguments, and you give up the right to move the case elsewhere.

Why this matters

You would be arguing a case in the Cayman Islands, in English, on paper, against a firm whose head office is in Mexico. You also lose the right to start at all more than one year after the trade. That holds even if you only found out later.

Exhibit 11WarningHarder than usual

The arbitral tribunal shall consist of not more than two (2) arbitrators and all proceedings shall be conducted and decision rendered based solely on the submission of documents and other similar materials. There will be no oral hearings or oral arguments.
Clause Customer agreement, clause 22 in Terms & Conditions
Read from the broker's site on Open the reference

Buried at section 54 of 59 in the Terms & Conditions, 92% of the way through.

Say no to the data sharing and GNT Capital closes your funded account

The privacy policy says that if you refuse to let GNT Capital LTD share your information, it closes any funded account you hold. The same policy then declares itself not contractually binding. Its promise not to sell your information sits inside that same document.

Your data1 clause flagged

Tell GNT Capital LTD not to share your personal information with its affiliates and others, and it closes your account. The privacy policy says it will close any open and funded account you hold.

Why this matters

The opt out is not a setting, it is an exit. Your funded account goes with it. The same policy that promises not to sell your data also says it is not contractually binding.

Exhibit 13WarningHarder than usual

Please note, however, that if we receive such instructions, we will not be able to service your account and will need to close any open and funded accounts you have.
Clause Opt out, paragraph 5 in Privacy Policy
Read from the broker's site on Open the reference

Six months without a trade costs $50

A $50 dormant account fee applies to any funded Global Next Trade account that goes six months without trading. Clause 12 states it in one line and sets no notice before the deduction. GNT Capital also keeps the right to take the fee later if it did not take it at the time.

In plain words

Dormancy means an account left unused.

Dormancy cost1 clause flagged

Six months without trading turns a funded account dormant, and GNT Capital LTD takes a $50 fee from it. Clause 12 sets no notice before the deduction and no floor under the balance.

Why this matters

Stop trading for half a year and $50 leaves your balance without a message. If GNT Capital does not take it then, clause 12 keeps its right to take it later.

Exhibit 8WarningHarder than usual$50

Funded accounts that remain inactive for a period of six (6) months will be charged a dormant account fee of $50.00 USD.
Clause Customer agreement, clause 12 in Terms & Conditions
Read from the broker's site on Open the reference

Buried at section 43 of 59 in the Terms & Conditions, 73% of the way through.

What it costsA $1,000 balance left untouched for six months loses $50 to the dormant account fee. On the $200 minimum deposit of a Standard account, the same fee takes a quarter of the balance.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Six months with no tradingA $50 charge is taken from the funded account.Customer agreement, clause 12
Fee not collected at the timeGNT Capital keeps the right to deduct it later.Customer agreement, clause 12

Four legal documents, one company number, and no regulator named in any of them

GNT Capital LTD contracts from Two Artillery Court in George Town, Cayman Islands, and runs its head office from San Pedro Garza García in Mexico. The four published documents name no regulator, no licence number and no compensation scheme. The number on every page, 348685, is the company registration number.

Who you contract with2 clauses flagged

Two documents refer to text that is nowhere on Global Next Trade's site. Clause 12 sends you to page 4 of 7 of certain trading platforms for transaction fees. The refunds policy can refuse a withdrawal that does not match this Section 69, and no Section 69 is published.

Why this matters

You are agreeing to terms you cannot read. Global Next Trade advertises social trading and PAMM accounts and publishes no copy trading terms. It publishes no risk disclosure, no anti-money-laundering policy and no complaints procedure either.

Exhibit 15WarningHarder than usual

Transaction fees can be found per trade on page 4 of 7 of certain trading platforms.
Clause Customer agreement, clause 12 in Terms & Conditions
Read from the broker's site on Open the reference

Buried at section 43 of 59 in the Terms & Conditions, 73% of the way through.

GNT Capital LTD contracts from the Cayman Islands and runs its head office in Mexico. None of the four legal documents names a regulator, a licence number, a client money account or a compensation scheme.

Why this matters

The About page names the Cayman Islands Monetary Authority and the Financial Services Authority of St. Vincent and the Grenadines. The documents you would actually sign name neither, and the only number they carry is a company registration number.

Exhibit 16NoticeStandard wording

GNT CAPITAL LTD is registered in the Cayman Islands with its registered office at Two Artillery Court, 2nd Floor, 161 Shedden Road, George Town, PO Box 799, KY1-1103, Cayman Islands.
Clause Customer agreement, closing paragraph in Terms & Conditions
Read from the broker's site on Open the reference

Buried at section 59 of 59 in the Terms & Conditions, 100% of the way through.

Where the marketing and the contract disagree

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

01

The About page says trades go out to external liquidity providers, and the contract says GNT Capital is the counterparty to all of them.

Said in public, in English

From day one, our goal was to eliminate hidden dealing practices and conflicts of interest by routing trades directly to external liquidity providers, so pricing, execution, and trading costs remain clear and market-driven.

About Global Next Trade page, Who we are section

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

In the contract · clause Customer agreement, clause 1

The Client further acknowledges that, subject to the terms and conditions set forth herein, GNT CAPITAL LTD will act as counterparty to all transactions entered into under this Agreement.

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

02

The Spanish page promises trades routed out to remove conflicts of interest, while clause 2 lets GNT Capital fill every order against itself.

Said in public, in Spanish

Desde el inicio, nuestro objetivo ha sido eliminar prácticas poco claras y conflictos de interés. Por ello, dirigimos las operaciones directamente a proveedores externos de liquidez, asegurando que precios, ejecución y costos se mantengan transparentes y alineados con el mercado.

Word for word in English: From the start, our goal has been to eliminate unclear practices and conflicts of interest. For this reason, we send trades directly to external liquidity providers, making sure that prices, execution and costs stay transparent and in line with the market.

Spanish About page, Quiénes somos section

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

In the contract · clause Customer agreement, clause 2

Unless otherwise indicated in writing by the Client, GNT CAPITAL LTD is authorized to execute all orders with itself as counterparty or with such other counterparties as GNT CAPITAL LTD deems appropriate.

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

03

The homepage says your funds are protected, and clause 9 has you grant GNT Capital the right to lend and pledge them.

Said in public, in Spanish

Opera con seguridad sabiendo que tus fondos están protegidos.

Word for word in English: Trade safely knowing that your funds are protected.

Spanish homepage, Totalmente regulado (Fully regulated) panel

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

In the contract · clause Customer agreement, clause 9

The Client also hereby grants to GNT CAPITAL LTD the right to pledge, re-pledge, mortgage, invest or lend, whether separately or with the ownership of other Clients, to itself as a broker or to others, any securities or other property of the Client that GNT CAPITAL LTD has as margin or guarantee.

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

04

The claim of protected funds sits against a clause letting GNT Capital move your money between accounts with no notice to you.

Said in public, in English

Trade with confidence and peace of mind, knowing your funds are protected.

English homepage, Fully regulated panel

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

In the contract · clause Customer agreement, clause 9

GNT CAPITAL LTD may, at its discretion, at any time and from time to time, without prior notice to the Client, apply and/or transfer part or all of the Client's funds or other property between any of the Client's accounts.

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

05

The homepage promises no hidden fees while clause 12 carries a $50 dormancy charge that the account comparison table never shows.

Said in public, in English

Tight spreads, no hidden fees, and always clear costs upfront.

English homepage, Transparent pricing panel

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

In the contract · clause Customer agreement, clause 12

Funded accounts that remain inactive for a period of six (6) months will be charged a dormant account fee of $50.00 USD.

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

The documents this reading is based on

6 files, all published by Global Next Trade. 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 Global Next Trade publishes.

How this reading was done

Every clause above was read out of a document Global Next Trade publishes itself

This reading was published on .

Documents
5 of 6downloaded from the broker's site, and 5 read in full
Pages opened
72pages walked to find those documents, footer links included
Marketing pages
10public pages set against what the contract says
Languages
EN vs ESthe language it advertises in, against the language it contracts in
Position measured
16clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

GNT Capital LTD

You contract with GNT Capital LTD, a company registered in the Cayman Islands at Two Artillery Court, 161 Shedden Road, George Town. The head office address printed in every document is in San Pedro Garza García, Mexico. Clause 1 lets GNT Capital open your account with any affiliate it picks, and no affiliate is named anywhere. The only number the documents publish is 348685, which the footer of every page calls the company registration number. No document names a regulator, a licence, a client money account or a compensation scheme.

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

Global Next Trade publishes its full contract in Spanish as well as English, clause for clause, including the fee clause and the arbitration clause. Most offshore brokers translate the sales pages and leave the contract in English only. The refunds and withdrawals page is short, plain and sets a target of one business day. Clause 16 also states in writing that your losses can go well beyond your deposit, which is more than many contracts admit.

We read all four documents Global Next Trade publishes. Those are the terms and conditions, the privacy policy, the refunds and withdrawals policy and the cookie policy, which it publishes in Spanish. No earlier version of any of them is available, so this is a first reading with nothing to compare against. None of them carries a version number or a date of last change. The privacy policy alone carries a line reading 'Original publication date: June 2017'. Two places in the contract point at text we could not find anywhere on the site. One is the transaction fee schedule, said to be on 'page 4 of 7 of certain trading platforms'. The other is 'this Section 69', named in the refunds policy. We did not go past the registration form, so any document shown later in account opening is not covered here.

How to check any of this yourself

Every quote above links to the Global Next Trade 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 Global Next Trade 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 Global Next Trade 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 7, 2026.

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

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