Wikilix
Contract reading

What GULF BROKERS legally published, but does not want you to read

Every clause below is published by GULF BROKERS 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: Octrado Ltd.

hidden feesole discretionprofit voidingwithdrawalsmarketing claimbonus lockkyc freezemissing documentsclient moneyconflict disclosure

Gulf Brokers has gone. Both of its web addresses, gulfbrokers.com and gulfbrokers.ae, now hand you to Octrado Ltd., a Seychelles company, and the old Gulf Brokers legal pages no longer exist. Octrado's client agreement lets it reverse and cancel every trade you have made. Its marketing promises a fee free account in English and in Arabic, while the contract charges for withdrawals, for a quiet month and for a failed chargeback.

Back to GULF BROKERS

Contract risk

Money at risk
8.3/10

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.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
16
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
18
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
4

How the 16 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.

Critical7
Warning7
Notice2

section 33 of 35is where the deepest clause sits, 94% 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.

3 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.

Critical10000Bonus requirement. Jump to the clause this comes from.One withdrawal cancels the whole bonus and its trading targetCritical1Profit at risk. Jump to the clause this comes from.A trade closed inside a minute counts as abusive tradingCritical$400Fee you were not shown. Jump to the clause this comes from.A failed chargeback costs $400 and can cost your profits$10Fee on an unused account. Jump to the clause this comes from.One quiet month starts a $10 monthly charge

What the documents say

16 clauses worth knowing about, worst first, each quoted from GULF BROKERS's own files

01

Type gulfbrokers.com or gulfbrokers.ae today and you land on the marketing page of Octrado Ltd., a company registered in the Seychelles. Every Gulf Brokers legal address we tried does the same, so the terms you agreed to are no longer published anywhere on the site you signed up on.

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.

Why this matters

You cannot read the contract that governs your money, and the company now answering at that address is not the one you opened the account with. Nothing on the new site explains the change or names Gulf Brokers.

Exhibit 1CriticalRarely seen

Licences and Authorisation: Octrado Ltd. is a limited liability company regulated as a Securities Dealer by the Seychelles Financial Services Authority of Seychelles (“FSA”) with license number SD013 and with company number 8417634-1 to carry out certain categories of financial investment business as permitted under the Seychelles Securities Act 2007.
Quoted in Legal Documents
Read from the broker's site on Open the reference
Our own capture of gulfbrokers.com, taken on Sep 1, 2026Gulf Brokers addresses now hand you to a Seychelles companyVisit this page on the broker's siteDownload the full size image file

Buried at section 33 of 35 in the Legal Documents, 94% of the way through.

Our readingA rebrand normally keeps the old address alive with a notice saying who the new counterparty is and where the old documents went. Here the address answers with another company's marketing page, the legal pages are gone, and no notice appears anywhere on it.

  • Worse together with Exhibit 16The site that replaced Gulf Brokers points at a Terms and Conditions document it does not publish either.
02

Clause 30.4 lets Octrado close your account on the spot and reverse or cancel all previous transactions on it. One trigger is Octrado believing your trading affects the smooth running of its platform, which it decides on its own.

Why this matters

Profit you made months ago can be undone, and clause 18.2 lets Octrado act at its absolute discretion with no warning. You get no notice, no test to point to and no appeal inside the contract.

Exhibit 2CriticalHarder than usual

The Company may terminate the Agreement immediately without giving five (5) Business Days written notice, and the Company has the right to reverse and/or cancel all previous transactions
Clause 30.4 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

What it costsA balance built from $1,000 in deposits and $4,000 in trading profit can be taken back to the transactions Octrado chooses to leave standing.

  • Worse together with Exhibit 11The same contract that lets Octrado undo your trades caps what it can ever owe you at the fees you paid it.
03

Octrado's bonus is credit, not cash. To take it out you must trade the bonus multiplied by 10,000, and any withdrawal before you reach that number cancels the bonus outright. Moving money to your own second account counts as a withdrawal.

Why this matters

If your equity ever dips below the bonus amount, clause 5.2 removes the bonus automatically, which can close your open positions at a loss on money that was yours. Octrado states it is not liable for what that costs you.

Exhibit 3CriticalHarder than usual10000

Regular Withdrawal: to withdraw the Bonus, the Required Traded Volume calculated as the Bonus multiplied by 10.000, must be traded.
Clause 3.1 in 10% Bonus Agreement General Terms and Conditions
Downloaded from the broker's site on Open the reference

What it costsOctrado's own example: a $2,000 bonus needs $20,000,000 of trades before you can withdraw it.

Our readingTwo different tests sit in one document. Clause 3.1 sets volume at the bonus times 10,000 in dollars. Clause 3.4 sets the larger bonuses in lots instead, and Octrado's own example turns a $6,000 bonus into 3,000 lots, which is far heavier than the first test.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Bonus creditedThe bonus lands in the trading account and can be traded straight away.2.5
Any withdrawal before the targetThe whole bonus is cancelled, and Octrado is not liable for losses that cancellation causes.3.3
Internal transfer between your own accountsTreated as a withdrawal, so the bonus is removed.5.1
Equity falls below the bonus amountThe system removes the bonus automatically, which can trigger a stop out.5.2
  • Worse together with Exhibit 5Taking a bonus adds a second lock to a withdrawal process that already has no deadline on it.
04

Octrado promises a trading account free of fees in English and in Arabic, on the same pages that Gulf Brokers visitors now land on. Its client agreement reserves withdrawal fees, puts every third party payment charge on you, and its own deposit sheet ends with a note that bank fees may apply.

Why this matters

The charges are real and Octrado takes them straight from your balance. None of the amounts are published in the documents, only a pointer to a website page that Octrado can change whenever it likes.

Exhibit 4CriticalHarder than usual

Zero Deposit & Withdrawal Fees
Quoted in AML Practices
Read from the broker's site on Open the reference
Our own capture of gulfbrokers.com, taken on Sep 1, 2026Zero fees in the marketing, fees in the contractVisit 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 or CySEC must give a retail client the costs and charges of a service before they trade, and must not advertise a service as free of fees while charges apply. This contract advertises a fee free account and reserves withdrawal fees, transfer charges and a monthly charge in the same document set.

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

  • Worse together with Exhibit 8The account advertised as free of fees starts charging after a single month without a trade.
05

Octrado pays a withdrawal only once it accepts your form, your method and a signature that matches your ID almost exactly. If any of that is not met, clause 20.12 lets Octrado take what it calls a reasonable time, and the sentence setting the outer limit breaks off unfinished in the document.

Why this matters

There is no date by which Octrado has to pay you. It can also refuse the payment method you asked for and send the money another way, and it holds the right to send funds back only in the currency you deposited.

Exhibit 5CriticalHarder than usual

the signature of the Client on the Withdrawal Form corresponds almost exactly to the signature of the Client on his/her official ID document
Clause 20.11 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

A failed chargeback costs $400 at Octrado

Clause 22.4 charges $400 for a chargeback that does not succeed, made up of a $200 research fee and a $200 administrative fee. The same clause lets Octrado seize any profits, close the account and pass the case to credit bureaus, and calls the decision non negotiable. Clause 22.1 applies the fee whether you raised the chargeback deliberately or by accident.

Cost disclosure1 clause flagged

Ask your card issuer for a chargeback and lose, and Octrado charges you $400: a $200 research fee and a $200 administrative fee. The same clause lets Octrado seize any profits, close the account and tell the credit bureaus.

Why this matters

The fee applies whether you raised the chargeback deliberately or by accident. Octrado calls its decision final and non negotiable, and says it will accept nothing less than payment in full once a case reaches collection.

Exhibit 7CriticalRarely seen$400

Any chargeback case that is made against the Company and is not successful will result in the sum being reimbursed to the Company along with charges for research and processing totalling 400 USD
Clause 22.4 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

What it costsOne unsuccessful chargeback costs $400, made up of a $200 research fee and a $200 administrative processing fee.

Our readingCharging a client for using the dispute right their card issuer gives them is unusual on its own. Adding seizure of profits, credit bureau reporting and a decision the firm calls non negotiable turns a payment dispute into a penalty with no route back.

Octrado can undo every trade on your account

Clause 30.4 lets Octrado cancel all previous transactions on an account and close it the same day, on nothing more than its belief that your trading affects its platform. Clause 18.2 lets it cancel profits from what it calls abusive trading, and Octrado's own definition reaches any trade closed inside a minute. Clause 14.1 makes any use of a trading robot a default unless Octrado approved it in writing first.

Trade reversal1 clause flagged

Octrado's definition of Abusive Trading opens with pip hunting, which the contract explains as trades under 1 minute. Trading around a news release, arbitrage and using a robot are on the same list, and clause 18.2 lets Octrado cancel the profits from any of it.

Why this matters

Fast scalping is normal on MetaTrader 5, the platform Octrado sells on its front page. Here it puts your profit inside a clause Octrado can apply on its own, and clause 10.16 warns that a stop loss may not protect you once your strategy is treated this way.

Exhibit 6CriticalRarely seen1

such as, but not limited to pip - hunting (trades under 1 minute), placing buy stop or sell stop Orders prior to the release of news relevant to the Underlying Market or Asset, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Platform
Clause 2.1 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

Our readingMost contracts that ban abusive trading leave the term undefined or aim it at price feed exploitation. Putting a stopwatch on it, so that any trade closed inside a minute qualifies, turns an ordinary trading style into grounds for cancelling profit.

  • Worse together with Exhibit 2The definition supplies the trigger and clause 30.4 supplies the power, so a minute long trade can reach every trade before it.

Octrado's fee free account is not the account in the contract

Octrado promises a trading account 100% free of fees in English and in Arabic, on the pages Gulf Brokers visitors now land on. Clause 20.16 of the client agreement reserves withdrawal fees, clause 20.15 puts every third party charge on you, and the deposit sheet ends with a note that bank fees may apply. The interest page sells 2,75% a year on idle cash while clause 21.1 says Octrado owes you no interest on any balance.

Promise and contract2 clauses flagged

Octrado runs a whole page selling interest on the cash sitting in your account, at 2,75% a year on dollars. Clause 21.1 of the client agreement says Octrado owes you no interest on any credit balance, and clause 19.6 lets it put your money on overnight deposit and keep what that earns.

Why this matters

The only interest the contract promises you is on positive swap positions, which is not the same thing as interest on your cash. If Octrado stops paying the advertised rate, the contract is on its side.

Exhibit 9WarningHarder than usual2.75%

Subject to the clause below and save as otherwise agreed in writing, the Company shall not be liable to: pay interest to the Client on any credit balance in any Trading Account or on any other sum held by the Company
Clause 21.1 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

Octrado's trading conditions page says your positions are liquidated when the margin level drops below 30%. Clause 9.8 of the client agreement closes them at a stop out level of 50%, which is twice as early.

Why this matters

If you size a position on the 30% figure, your trades can close while you still believe you have room. Octrado is not obliged to warn you: clause 9.11 says it is not legally obliged to notify clients when this happens.

Exhibit 10WarningHarder than usual50%

If a Client fails to meet a Margin Call and the market works against him his positions will be closed at Stop Out level of 50% and the Company has the right to refuse a new Order.
Clause 9.8 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference
Our own capture of octrado.com, taken on Sep 1, 2026The claim, on Trading Conditions page, Margin Call sectionVisit this page on the broker's siteDownload the full size image file

Your next order accepts Octrado's new terms

Clause 42.1 treats the next order you place as acceptance of an amendment Octrado posted on its website. Clause 17.2 lets Octrado change commissions, spreads, swaps and the monthly charge at any time and without further notice to you. Clause 9.3 lets it raise margin on positions you already hold, on ten business days notice.

Terms drift1 clause flagged

Octrado can amend the agreement by posting a notice on its website, and clause 42.1 counts your next order as acceptance. Clause 17.2 lets it change commissions, spreads, swaps and the monthly charge at any time, in its own words without further notice to you.

Why this matters

Costs can rise while you are holding a position and the first you know of it is the deduction. Clause 9.3 also lets Octrado raise margin requirements on positions you already hold, on ten business days notice.

Exhibit 12WarningHarder than usual10 working days

In the case of an amendment by notice in writing to the Client from the Company, such amendment shall become effective on the date specified in the notice on its Website and will be deemed to be accepted when the Client places an order in the trading platform after the date on which the amendment becomes effective.
Clause 42.1 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

Complaining to Octrado is one email and a reasonable time

Clause 34.1 is the whole complaints procedure: email support and wait. No deadline binds Octrado, no ombudsman or dispute scheme is named, and clause 28.8 caps everything Octrado could owe you at the fees you paid it. Clause 29.9 makes Octrado's own recordings conclusive evidence of what you instructed.

Redress1 clause flagged

Clause 34.1 is the entire complaints procedure: send an email to support and Octrado will answer within a reasonable time. No deadline binds Octrado, no ombudsman is named, and clause 28.8 caps everything it could ever owe you at the fees you paid it.

Why this matters

If a trade goes wrong, Octrado's own recordings count as conclusive evidence of what you instructed. You have no independent scheme to escalate to, and the cap means a large loss cannot be recovered from Octrado through this contract.

Exhibit 11WarningHarder than usual

In case the Client is not satisfied with the level of Services received and/or something has gone wrong, the Client shall send an email to support@octrado.com. The Company will hereafter investigate the matter and provide an answer to the Client within a reasonable time.
Clause 34.1 in Client Agreement Terms and Conditions
Downloaded 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 run a written complaints procedure with fixed response deadlines and must point a retail client to an independent ombudsman or dispute scheme. This contract offers an email address and a reasonable time.

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

Checks can start at any time and lock the account

Clause 20.2 lets Octrado demand source of funds documents at any moment and refuse the deposit if it is not satisfied. Clause 22.4 blocks access to the account while a deposit is checked, with no limit on how long that runs. Clause 13.3 treats all your accounts as one unit, so a hold on one reaches the rest.

Verification1 clause flagged

Clause 20.2 lets Octrado ask for source of funds documents at any moment and refuse the deposit if it is not satisfied. While a deposit is being checked, clause 22.4 blocks your access to the account altogether.

Why this matters

Your money and your open positions can be frozen while a review runs, and the contract sets no limit on how long that takes. Octrado also treats your accounts as one unit, so a hold on one reaches the others.

Exhibit 13WarningStandard wording

The Company shall have the right to request the Client at any time any documentation to confirm the source of funds deposited into the Client Account.
Clause 20.2 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

Octrado never says who takes the other side of your trade

The order execution policy explains order types and slippage without naming one execution venue, and never says whether Octrado is your counterparty. The conflict of interest policy does admit Octrado may take payments from its liquidity provider for passing on client orders. Clause 26.1 has you agree in advance that it may trade without raising a specific conflict first.

In plain words

Liquidity providers are outside banks and brokers.

Order handling1 clause flagged

Octrado's order execution policy explains order types and slippage without naming a single execution venue, and never says whether Octrado is the counterparty to your trade. Its conflict of interest policy does admit it may take payments from its liquidity provider for passing on your orders.

Why this matters

You cannot tell whether Octrado makes money when you lose. Clause 26.1 has you agree in advance that it may trade without mentioning a specific conflict first.

Exhibit 14WarningHarder than usual

This Order Execution Policy (the Policy) is intended to provide you with a general overview as to how Octrado Ltd. execute Orders on behalf of its Clients, the factors which can affect the timing of execution and the way in which market volatility plays a part in Order handling.
Clause 1.1 in Order Execution Policy
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA, or applying the ESMA rules, must publish the venues they execute on and tell a retail client when they deal on their own account against that client. This execution policy names no venue and does not say who the counterparty is.

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

One quiet month starts a $10 monthly charge

Clause 17.8 lets Octrado charge $10 a month after a single month with no deposit, no withdrawal and no trade. The charge runs only while the account holds enough to pay it, so it cannot push you into debt. Nothing in the clause requires Octrado to warn you first.

In plain words

Dormancy means an account left unused.

Dormancy charge1 clause flagged

Go one month with no deposit, no withdrawal and no trade, and Octrado can start taking $10 a month from your balance for what it calls a maintenance fee. Clause 17.8 sets the trigger at a single month.

Why this matters

A month is a short holiday, not a dormant account. The one limit in your favour is that the charge only runs while you have the money to pay it, so it cannot push you into debt.

Exhibit 8WarningHarder than usual$10

The Client acknowledges and accepts that in the case of no activity for a period of one (1) month (no deposits, withdrawals or trading activity) in the Trading Account, the Company reserves the right to charge a maintenance fee of 10 USD (or currency equivalent), subject to the Client having sufficient funds available in return for the provision of the continued availability of the Trading Account.
Clause 17.8 in Client Agreement Terms and Conditions
Downloaded from the broker's site on Open the reference

What it costs$10 a month is $120 a year on an account you have simply left alone.

No compensation scheme, and client money can sit in a pool

Clause 19.4 lets the bank hold Octrado client money in an omnibus account and says the client carries the shortfall if that bank fails. No investor compensation scheme is named anywhere in the document set, and nothing promises to write off a negative balance. Octrado's own pages also point at a Terms and Conditions document it does not publish.

Money protection2 clauses flagged

Clause 19.4 lets the bank hold your money pooled with other clients in an omnibus account, and says that if that bank fails you carry the shortfall. No investor compensation scheme is named anywhere in the document set.

Why this matters

If the bank holding the pool fails, Octrado has only an unsecured claim on your behalf and there is no fund to top you up. Clause 7.1 also warns that losses can exceed the margin you put down, and nothing in the contract promises to write off a negative balance.

Exhibit 15NoticeStandard wording

The financial institution to which the Company will pass Client money may hold it in an omnibus account.
Clause 19.4 in Client Agreement Terms and Conditions
Downloaded 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 hold retail money under client money rules backed by a statutory compensation scheme, and under the ESMA rules a retail CFD client cannot lose more than the money in the account. This contract names no compensation scheme and promises no such limit.

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

Octrado's anti money laundering page says your identity checks are set out in its Terms and Conditions, and the bonus terms rest on a Terms of Business document. Neither appears on the legal documents page, which lists a client agreement instead.

Why this matters

You are pointed at rules you cannot read. The same page advertises bonuses up to 200%, while the only bonus document published is headed as a 10% bonus agreement.

Exhibit 16NoticeHarder than usual

This requirement is clearly outlined in our Terms & Conditions.
Quoted in Anti-Money Laundering
Read 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

Octrado sells an account free of fees in Arabic while its English client agreement reserves withdrawal fees.

Said in public, in Arabic

حساب تداول خالٍ من الرسوم بنسبة 100%.

Word for word in English: A trading account 100% free of fees.

Arabic landing page, in the About us panel under the heading no fees on deposits and withdrawals

In the contract · clause 20.16

Withdrawal fees may apply.

02

The deposit sheet Octrado sends you to fund the account ends with a warning about bank fees the marketing page denies.

Said in public, in English

Zero Deposit & Withdrawal Fees Trading account 100 % free of fees.

English About us page, trading benefits list

In the contract

Note: Bank fees may apply.

03

A page selling interest on idle cash sits above a contract clause saying Octrado owes you no interest on any balance.

Said in public, in English

Deposit or withdraw anytime without penalties and without affecting your interest rate.

Interest Program page, Unlimited Withdrawals panel

In the contract · clause 21.1

Subject to the clause below and save as otherwise agreed in writing, the Company shall not be liable to: pay interest to the Client on any credit balance in any Trading Account or on any other sum held by the Company

04

The website puts liquidation at 30% of margin and the contract puts it at 50%, so positions close twice as early as advertised.

Said in public, in English

Additionally, clients will be alerted when their margin level drops below 30%, triggering automatic position liquidation by the platform.

Trading Conditions page, Margin Call section

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

In the contract · clause 9.8

If a Client fails to meet a Margin Call and the market works against him his positions will be closed at Stop Out level of 50% and the Company has the right to refuse a new Order.

The documents this reading is based on

18 files, all published by GULF BROKERS. 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 GULF BROKERS publishes.

How this reading was done

Every clause above was read out of a document GULF BROKERS publishes itself

This reading was published on .

Documents
8 of 18downloaded from the broker's site, and 8 read in full
Pages opened
50pages walked to find those documents, footer links included
Older copies
1earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Languages
AR vs ENthe language it advertises in, against the language it contracts in
Position measured
1clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Octrado Ltd.

Octrado Ltd. is a Seychelles limited liability company, company number 8417634-1, licensed by the Seychelles Financial Services Authority as a securities dealer under SD013. Clause 1.3 of the client agreement names it as the party you contract with, and clause 39.1 puts any dispute under Seychelles law and in the Seychelles courts. The site gives a registered address in Providence, Mahe, a second operational address in Victoria, and UK telephone numbers. Nothing on it mentions Gulf Brokers. The deposit sheet sends client money to Equals Money UK in London, and clause 19.7 lets Octrado pass client money to a buyer, successor or assignee on ten business days notice.

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

Octrado publishes its whole document set openly, with no account needed: the client agreement, the bonus terms, the order execution policy, the conflict of interest policy, the risk disclosure and the bank details for deposits. The bonus terms work their volume rule through in Octrado's own figures instead of leaving a reader to guess. Clause 19.8 refuses title transfer collateral arrangements with retail clients, so your money is not signed over as security. Clause 19.3 requires separate records for client money, and the trading conditions page publishes the margin call and stop out mechanics rather than hiding them in a PDF.

We could not read a single Gulf Brokers legal page. Every address on gulfbrokers.com and gulfbrokers.ae now sends you to Octrado's marketing page instead, including the four legal addresses we tried. We read Octrado's documents where they are now published, on octrado.com. The wire transfer instructions we read in full. The client agreement, the bonus terms, the conflict of interest policy, the order execution policy and the risk disclosure we read in part, not end to end. We did not read the privacy policy, the swaps sheet, the rollovers sheet or the AED and EUR wire instructions at all. An older copy of the Gulf Brokers privacy policy from 12 February 2025 was downloaded, but nothing could be read from it, so there was nothing to compare. Quotations from the PDF documents keep the line breaks of the originals, so a word may appear split in two.

How to check any of this yourself

Every quote above links to the GULF BROKERS 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 GULF BROKERS 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 GULF BROKERS 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 Sep 1, 2026.

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

Back to the GULF BROKERS profile