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Contract reading

What Match Securities legally published, but does not want you to read

Every clause below is published by Match Securities 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: Match Securities

sole discretionmarketing mismatchhidden feemissing documentaccount closuredeemed acceptanceconflict of interestmarkupprofit voidingarbitration

Match Securities tells you on its own website that it takes no risk and has no conflict with you. Its conflicts policy says it can gain at your expense. Nothing in these documents says how you get money out, or when, while three separate clauses let the firm hold it. A fee it never publishes can empty a dormant account and close it. You get 24 hours to challenge a trade, and the firm gives itself up to eight weeks to answer a complaint.

Back to Match Securities

Contract risk

Money at risk
8.0/10

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.
22
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
10
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
11

How the 22 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
Warning13
Notice2

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.

2 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.

Critical6Fee on an unused account. Jump to the clause this comes from.A fee the broker never publishes empties a dormant accountCritical7 daysTime to complain. Jump to the clause this comes from.You get 24 hours, the firm gives itself eight weeks30 daysFee you were not shown. Jump to the clause this comes from.Closing the account brings the fee increase forward10 working daysAccount limit. Jump to the clause this comes from.Three different answers on notice of a terms change

What the documents say

22 clauses worth knowing about, worst first, each quoted from Match Securities's own files

01

Match Securities tells you on its about page that it takes no risk and that your trades pass straight to the market. Its own conflicts policy says the firm can gain at your expense. The terms say Match Securities is the counterparty to every trade you place.

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

Your loss can be the firm's gain, and that is the fact the marketing removes. When Match Securities is the other side of your trade, every price it quotes you and every position it closes moves its own money too.

Exhibit 1CriticalHarder than usual

Match Securities is likely to make a financial gain, or avoid a financial loss, at the expense of the customer;
Clause Conflicts of Interest Policy, Identification of Conflicts in LEGAL DOCUMENTS
Read from the broker's site on Open the reference
Our own capture of matchsecurities.com, taken on Oct 10, 2026The claim, on About page, Gold Standard Service panelVisit 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 make sure what they tell a retail client is fair, clear and not misleading, and must disclose conflicts of interest before dealing. Match Securities discloses the conflict in its policy and denies it on its about page.

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

  • Same clause as Exhibit 17The same two policies that deny the conflict in public also give the firm the only price your order is filled at.
02

Not one of these documents says how you withdraw money, how long it takes or when the firm must pay. What they do contain is three separate rights to keep hold of it. Match Securities can retain your balance as security until a claim is finally determined.

In plain words

Indemnities are money it says you owe it.

Why this matters

You have no deadline to point at if your money does not arrive. The firm can hold your cash until it decides a dispute is resolved, and nothing in the contract puts an outer limit on that.

Exhibit 3CriticalRarely seen

MS may retain sufficient funds, securities or credit balances held in the Client’s account as continuing security for the Client’s indemnity obligations until the relevant claim or proceeding has been finally determined.
Clause 6.5 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must set out how and when they return client money, and must return it promptly on request. These documents set no withdrawal timetable at all.

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

Our readingA retail trading contract that never once describes how a client gets money out is unusual. Most set a working day count, a method and a minimum, even where they reserve wide discretion.

  • Worse together with Exhibit 4The clause that cancels profit on suspicion is the same clause that lets the firm sit on your cash while it decides.
03

If Match Securities suspects your trading was abusive, it can void your orders, cancel the profits attached to them and take back any losses it says it incurred. The clause needs reasonable grounds for the suspicion, and nothing more than that. Holding a long and a short position at similar times is on the list.

Why this matters

Profit you have already made can be cancelled after the fact, and the firm decides whether the trading that produced it was abusive. Trading from an IP address outside the country you registered from is enough to put you on that list.

Exhibit 4CriticalHarder than usual

we reserve the right to temporarily or permanently suspend your trading account, recover any losses incurred in connection with the wilful misconduct and/or market abusive trading and/or suspicious trading activity from you and/or void your orders and cancel any associated profits, with immediate effect.
Clause 2.30 in TERMS AND CONDITIONS
Read from the broker's site on Open the reference
  • Worse together with Exhibit 6The firm has no deadline for cancelling a trade, while your own window to question that trade closes in 24 hours.
04

Six months without a trade makes your account dormant, and Match Securities then charges a dormant account fee. The amount appears in no document on the site. If the fee is bigger than your balance, the firm takes what is left to reach zero and closes the account.

Why this matters

Money you deposited can be consumed by a charge you were never shown, every six months, until there is nothing left. Match Securities can also change this fee at immediate notice, so the figure you eventually find is not fixed.

Exhibit 5CriticalHarder than usual6

If there has been no activity for more than six months on any account in your name it will be classified as dormant and may be charged the dormant account fee.
Clause 2.29.7 in TERMS AND CONDITIONS
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 costs and charges to a retail client before they trade. The dormant account fee here is named in the contract and its amount is published nowhere.

Match Securities 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
After 6 months of no tradesMatch Securities calls the account dormant and can charge the dormant account fee.2.29.7
Every 6 months after thatThe same fee is charged again for as long as you place no trade.2.29.7
When the fee exceeds your balanceThe firm takes the part of the fee that brings you to zero, then closes the account.2.29.7
After 6 years of no movementMatch Securities can stop treating the money as yours and pay it to a registered charity.2.20.2
  • Worse together with Exhibit 9The fee that empties the account belongs to the same price list the firm keeps behind the login.
05

Match Securities treats a trade confirmation as binding on you after 24 hours. A statement becomes correct and conclusive if you do not object within seven calendar days. The complaints page lets the firm take up to eight weeks to answer you.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

Your right to question a trade can expire the next day, before you have checked anything. Miss it and your silence counts as agreement, and the firm's own recordings are the evidence that settles the point.

Exhibit 6CriticalHarder than usual7 days

Unless you let us know within 24 hours that there is an error in the confirmation we send you, it will be deemed to be binding on you (in the absence of manifest error).
Clause 2.4.1 in TERMS AND CONDITIONS
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 give a retail client a reasonable period to complain and access to an independent scheme afterwards. Here the client's window is 24 hours for a trade and seven calendar days for a statement.

Match Securities 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
Within 24 hoursYou must report an error in a trade confirmation or it binds you.2.4.1
Within 7 calendar daysYou must report a wrong statement or it becomes correct and conclusive.3.5
5 business daysMatch Securities acknowledges your complaint.Complaints Procedure
28 daysMatch Securities aims to resolve your complaint.Complaints Procedure
8 weeksThe longest the firm allows itself before it responds at all.Complaints Procedure
06

Match Securities runs an Arabic version of its site, right to left, and sells coverage across the GCC, MENA and South Asia. Every legal page in that version says Under construction. The terms, the risk disclosure, the privacy notice and the complaints procedure are all blank there.

Why this matters

You can open and fund an account from the Arabic side of this site without a single term being shown to you. The contract then says it is supplied in English and that you represent you understood it.

Exhibit 8WarningRarely seen

Under construction
Quoted in Terms and Conditions ar
Read from the broker's site on Open the reference

Our readingMany brokers market in one language and contract in another. Badging a whole language version, keeping the account opening page working and leaving all ten legal pages empty is a different thing.

Losses pool across your accounts and spare margin does not

Term 1.1.3 lets Match Securities net a negative balance on one of your accounts against the others, and term 2.16.5 refuses the same pooling for margin by name. The firm can end the agreement by notice at any time and cut platform access without notice, while the Customer Agreement promises 15 days. Asking for statements on paper is one of two listed grounds for restricting or closing the account.

Control of the account5 clauses flagged

Match Securities advertises that you can fund and cross-margin across your accounts. Term 2.16.5 says cross-margining is not permissible with Match Securities. Term 1.1.3 runs the other way: a loss on one of your accounts can be netted against the others.

Why this matters

One account can be stopped out while another sits on spare cash that the firm will not move across. The netting works only in the direction that collects from you, and a joint account holder carries the whole liability.

Exhibit 2CriticalRarely seen

No margin can be transferred from accounts/sub accounts with excess margin to these accounts/sub accounts that require margin. This is referred to as cross-margining, which is not permissible with Match Securities.
Clause 2.16.5 in TERMS AND CONDITIONS
Read from the broker's site on Open the reference

Our readingTreating every account as one for losses while refusing to treat them as one for margin is an asymmetry, not a standard netting clause. It means the pooling only ever operates against the client.

  • Worse together with Exhibit 3Money the firm nets off one account is money you never see as a withdrawal from another.

The Customer Agreement says that using the platform after a change counts as your acceptance of it, with no notice period at all. The Terms and Conditions promise at least 10 business days. The execution policy says it can be revised at any time without prior notice.

Why this matters

Logging in can bind you to terms you have not read. Which of the three notice rules applies to you is not settled by any of these documents.

Exhibit 11WarningHarder than usual10 working days

Client acknowledges that MS may revise this Agreement by sending notice of the revised agreement by e-mail or upon Client log-in to MS’s system. Client’s use of MS’s system after such notice constitutes acceptance of the revised agreement.
Clause 14.2 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 6Your silence accepts a new version of the contract, and the same silence accepts the statements sent under it.

Match Securities can end your agreement by written notice at any time, with no reason required. It can also suspend or deny access to the platform without notice, for any reason it names. The Customer Agreement says either side needs 15 days notice.

Why this matters

Your positions can be closed out on the firm's decision while you are locked out of the platform that holds them. The two documents disagree on whether you get 15 days or none.

Exhibit 12WarningHarder than usual15 days

We may end this Agreement by giving you written notice at any time – this Agreement will end when you receive our notice (or on a later date specified by us in such notice).
Clause 2.31.1.2 in TERMS AND CONDITIONS
Read from the broker's site on Open the reference

You consent to receive everything electronically when you open the account. Ask Match Securities for paper copies instead, or withdraw that consent, and clause 16.4 lets the firm charge you a service fee or restrict or close the account.

Why this matters

A request for documents on paper is treated as grounds to shut you down. The fee for paper delivery is described only as reasonable, with no amount attached.

Exhibit 13WarningRarely seen

Client understands that if it revokes or restricts consent to electronic delivery of Account Communications or requests paper delivery of the same, MS, in its sole discretion, may: (i) charge Client a reasonable service fee for the delivery of any Account Communications that would otherwise be delivered to Client electronically, and/or (ii) restrict or close the Account.
Clause 16.4 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference

Our readingElectronic delivery consent is standard, and so is a charge for paper. Making account closure one of the two listed responses to that request is not.

The Terms and Conditions say Match Securities cannot open accounts for residents of the United States, Belgium, Macedonia and Israel. The footer of that same page bars the United States, Cuba, Iraq, Myanmar, North Korea and Sudan. Only one country appears on both lists.

Why this matters

You can check the restricted regions notice, find your country absent and still be barred by the contract. The firm markets coverage across the MENA region, which includes two countries its own footer excludes.

Exhibit 14WarningHarder than usual

Due to regulatory restrictions, Match Securities cannot open accounts for retail customers with residence in the United States, Belgium, Macedonia and Israel.
Clause Introduction in TERMS AND CONDITIONS
Read from the broker's site on Open the reference

Your window is 24 hours, the firm's answer can take eight weeks

Match Securities treats a trade confirmation as binding after 24 hours and a statement as conclusive after seven calendar days. Its complaints procedure allows itself five business days to acknowledge, 28 days to resolve and eight weeks at the outside. Its liability is capped at the highest monthly commissions you paid in the six months before the incident, and it can bill you on demand for legal costs it has not yet incurred.

Challenging a trade2 clauses flagged

Match Securities can demand money from you the moment it believes it might face a claim connected to your account. The list it can bill you for includes anticipated legal fees, expert costs, regulatory investigation costs and settlement amounts. The firm sets the estimate itself.

Why this matters

You can be asked to hand over cash on demand for costs nobody has incurred yet, decided by the party asking. Refusing puts you in default, and default lets the firm sell assets in your account.

Exhibit 7CriticalRarely seen

Where MS reasonably believes that it has incurred or is likely to incur liability or expense covered by this indemnity, MS may require the Client to pay, on demand, such amount as MS reasonably estimates is necessary to cover:
Clause 6.4 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference

Our readingIndemnities are standard. Pre funding the other side's estimated future legal fees and settlements on demand is a commercial security device, and in a retail trading agreement it turns a possible dispute into an immediate bill.

Whatever happens and whatever it costs you, Match Securities caps what it can owe you at the highest total monthly commissions you paid it in the six months before the incident. Punitive and consequential damages are waived in any forum.

Why this matters

A platform failure that costs you thousands is answered by a refund measured in commissions. The cap carves out fraud, gross negligence and wilful default, which are the hardest things to prove.

Exhibit 15WarningHarder than usual

In no event shall MS’s liability, regardless of the form of action and damages suffered by the Client, exceed the highest total monthly commissions paid by the Client to MS over the 6 months prior to any incident.
Clause 6.1(vi) in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference

The about page denies the conflict the conflicts policy records

Match Securities states on its about page that it assumes no risk and that no conflict exists between trader and broker. Its conflicts policy says the firm is likely to gain at the customer's expense, and term 2.6.1 makes it the counterparty to every trade you place. The Arabic version of the site is fully built for marketing and account opening, and all ten of its legal pages read Under construction.

Claim against contract2 clauses flagged

The fair treatment commitments promise to make sure the products Match Securities offers are appropriate for you and fit your needs. The footer on every page says the firm does not assess whether a product is appropriate for you at all. The terms claim a duty to assess appropriateness under FSC rules.

Why this matters

Nothing is checking that these products suit you, whatever the commitments page says. The risk disclosure already warns that trading may not suit anyone earning under $25,000 a year.

Exhibit 18WarningHarder than usual

To ensure the products that we offer are appropriate for you and are consistent with your needs;
Clause Treating Customers Fairly, Our Commitment to you in LEGAL DOCUMENTS
Read from the broker's site on Open the reference

The homepage sells MT5 with tools for algorithmic and copy trading. The scalping policy lets Match Securities void any trade it decides was scalping, in its sole discretion, and close your account immediately. No copy trading terms exist to tell you where the line falls.

Why this matters

The fast, automated trading you were sold the platform for is the same activity the firm can cancel your profits over. You cannot read the rule you are expected to stay inside, because it is not published.

Exhibit 19WarningHarder than usual

If, in our sole discretion, we consider you to have partaken in this form of scalping, it will be considered as a breach of our Terms and Conditions and as such we reserve the right to:
Clause Scalping Policy in SCALPING POLICY
Read from the broker's site on Open the reference

The Fee Schedule this contract relies on is not published

Four prices in the Match Securities documents are named and never shown: the Fee Schedule, the dormant account fee, the swap free holding fee and the interest rates. Charges are the ones notified through the trading platform, which you only reach after depositing. Telling the firm you are closing the account to escape a fee increase makes that increase effective immediately.

Cost disclosure2 clauses flagged

The Customer Agreement points you to a Fee Schedule, and Match Securities publishes no Fee Schedule. Charges are the ones notified to you through the trading platform, which you reach after you deposit. The swap free holding fee and the interest rates are both said to be on the website and are not.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

You cannot price this broker against another before you hand over money. The firm also builds its own income into the quotes you trade on, which its execution policy calls a mark-up.

Exhibit 9WarningHarder than usual

As consideration for the provision of the Services, Client agrees to pay the fees listed in the Fee Schedule. All fees will be fully disclosed to Client.
Clause 5.1 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the costs and charges of a service before that client trades. Here the price list exists only inside the platform.

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

A rise in the Broker Fee normally starts in the month beginning at least 30 days after Match Securities notifies you. Tell the firm you are closing the account inside those 30 days and clause 5.2 makes the increase effective immediately instead.

Why this matters

The one step you can take to escape a higher fee is the step that applies it to you at once. You then pay the outstanding daily fees up to the day you leave.

Exhibit 10WarningRarely seen30 days

An increase in the Broker Fee will be effective for the Account starting in the next month that begins at least 30 days after MS sends or posts such notice unless the Client notifies MS in writing that the Account is to be closed within such 30 day period, in which case such change in Broker Fee shall come into effect immediately.
Clause 5.2 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference

Our readingNotice periods on fee changes are standard. A clause where exercising the opt out accelerates the charge instead of avoiding it reverses the purpose of the notice.

  • Worse together with Exhibit 9You cannot see the fee before you deposit, and objecting to an increase in it brings the increase forward.

One document waives the courts, the other keeps them

Clause 19.1 of the Match Securities Customer Agreement gives up the right to sue in court and sends disputes to a single arbitrator seated in Mauritius. Term 2.32.9 of the Terms and Conditions keeps the non exclusive jurisdiction of the Mauritius courts. Both documents bind you, and nothing says which one governs.

Where a dispute goes1 clause flagged

The Customer Agreement says all parties give up the right to sue each other in court, and sends disputes to a single arbitrator seated in Mauritius. The Terms and Conditions say the opposite: Mauritius courts keep non exclusive jurisdiction.

Why this matters

Arbitration in Mauritius under chamber of commerce rules costs more than most retail balances. The firm's own documents do not agree on whether you ever had the choice.

Exhibit 16WarningHarder than usual

All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is files.
Clause 19.1 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give retail clients access to an independent complaints scheme that costs the client nothing. Here the route is the firm's compliance desk, then the Mauritius regulator, with the contract pointing to private arbitration.

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

Your fill is the firm's own price, marked up

Match Securities fills your order at its own price, adds a mark-up to what its liquidity providers quote, and states that it cannot guarantee the result beats a price available elsewhere. It can accept payments from third parties on the back of your trading without accounting to you for them. Its conflicts policy records an interest in maximising trading volume against your interest in lower costs.

Who sets the price1 clause flagged

Your order is filled at the price Match Securities quotes, and the execution policy says it cannot guarantee that price beats one available elsewhere. The firm can also take payments from third parties on the back of your trading and does not have to account to you for them.

In plain words

Remuneration means payments it receives.

Why this matters

There is no outside reference price in these documents to measure your fill against. Money can change hands behind your trade without ever appearing on your statement.

Exhibit 17WarningHarder than usual

Subject to market conditions a client order will be executed at our price or very close to our price. The price clients receive at execution is not guaranteed as the market may widen, become very volatile or even gap.
Clause Execution Policy, Dealing with Client Orders in LEGAL DOCUMENTS
Read from the broker's site on Open the reference

One offshore licence and no compensation scheme

Match Securities holds a Mauritius FSC investment dealer (discount broker) licence, GB21026301, and states that no statutory compensation scheme covers it if it cannot meet its liabilities. It may hold your segregated money outside Mauritius or pass it to an intermediate broker, where it warns your money could be treated differently if that firm fails. The clause creating the service names a company, ML, that the agreement never defines.

Who holds your money2 clauses flagged

Match Securities states that no statutory compensation scheme covers it if it cannot meet its liabilities. It can also hold your segregated money outside Mauritius, or pass it to an intermediate broker there. The terms warn your money may then be treated differently if that firm fails.

Why this matters

If this broker or the firm holding its client money fails, no scheme pays you back. The regulatory page meanwhile says you can trust the firm to treat your money with care.

Exhibit 20WarningStandard wording

There is currently no statutory compensation scheme in place if we are unable to meet our liabilities in respect of investment business.
Clause 2.24.1 in TERMS AND CONDITIONS
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 belong to a compensation scheme that pays retail clients up to a set limit if the firm fails. Match Securities says no such scheme is in place for it.

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

Clause 2.2 of the Customer Agreement, the clause that creates the service, says ML will provide it. The agreement defines Match Securities as MS and never defines ML. The risk warning in the Terms and Conditions tells you what HML staff cannot guarantee.

Why this matters

The paragraph that says who must execute your orders names a company you cannot identify. The licence number and the company number are each printed two different ways across these pages.

Exhibit 21NoticeRarely seen

Subject to the terms of this Agreement, with effect from the Effective Date, ML shall provide to the Client all services in line with the activities authorized under the Securities (Licensing) Rules 2007 to be provided by an entity holding an investment dealer (discount broker) licence issued by the FSC, namely to execute orders for the Client without giving advice (the “Services”).
Clause 2.2 in CUSTOMER AGREEMENT
Read from the broker's site on Archived copyOpen the reference

Our readingDrafting slips happen. An agreement that assigns the central service obligation to an undefined abbreviation, and warns about the staff of a third firm, points to a contract adapted from another broker's paperwork.

Opening the account declares your expertise for you

Match Securities treats the act of opening an account as your acceptance of the risk warning and your agreement that statements about your own experience apply to you. The legal documents page prints those statements as facts about the reader. No anti money laundering policy is published, and the firm can require any document it decides it needs at any time.

What you are deemed to have said1 clause flagged

By opening an account you are treated as having accepted the risk warning and as agreeing that statements about your own experience and expertise apply to you. On the legal documents page the firm goes further and states those things as facts about you. No anti money laundering policy is published, and the document demands are open ended.

Why this matters

Representations about your trading knowledge are made on your behalf by the act of signing up. If you later say the product was wrong for you, the firm can point at a declaration you never wrote.

Exhibit 22NoticeHarder than usual

By opening an account with us, we assume that you have read, understood and accepted this warning, and that you agree that one or more of the below statements apply to you.
Clause Attitude to risk and investment objectives in RISK DISCLOSURE
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

The about page says there is no conflict between broker and trader, and the conflicts policy says the firm can gain at the customer's expense.

Said in public, in English

Match Securities operates under the ECN/DMA trading model and does not assume any risk. All client trades are passed straight to the market, avoiding any conflict of interest between trader and broker.

About page, Gold Standard Service panel

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

In the contract · clause Conflicts of Interest Policy, Identification of Conflicts

Match Securities is likely to make a financial gain, or avoid a financial loss, at the expense of the customer;

02

Trades are advertised as passing straight to the market, while the terms make Match Securities the counterparty to every one of them.

Said in public, in English

Match Securities operates under the ECN/DMA trading model and does not assume any risk. All client trades are passed straight to the market, avoiding any conflict of interest between trader and broker.

About page, Gold Standard Service panel

In the contract · clause 2.6.1

Unless we agree otherwise at the time of dealing, we will be the counterparty to all your transactions and act as a principal and not as agent on your behalf.

03

Cross-margining across your accounts is advertised by name and barred by name in the terms.

Said in public, in English

With a single account application, open multiple trading accounts across a range of platforms, and fund (and cross-margin) across accounts seamlessly.

Client Services page, Simple fast account opening panel

In the contract · clause 2.16.5

This is referred to as cross-margining, which is not permissible with Match Securities.

04

Withdrawals are advertised as same day, and the contract sets no withdrawal deadline while allowing the firm to hold your balance until a claim ends.

Said in public, in English

Match Securities customers benefit from instant funding and same day withdrawal processing.

Client Services page, Funding and financing panel

In the contract · clause 6.5

MS may retain sufficient funds, securities or credit balances held in the Client’s account as continuing security for the Client’s indemnity obligations until the relevant claim or proceeding has been finally determined.

05

The public page invites you to raise an issue whenever you are unhappy, and the contract shuts the door on a trade after 24 hours.

Said in public, in English

In the rare event that you are unhappy with our service in any way, please contact us immediately. We will do what we can to ensure you always enjoy the best possible customer experience.

Client Services page, Swift issue resolution panel

In the contract · clause 2.4.1

Unless you let us know within 24 hours that there is an error in the confirmation we send you, it will be deemed to be binding on you (in the absence of manifest error).

06

The about page promises the best possible rates, and the execution policy says the published prices carry the firm's own mark-up.

Said in public, in English

Prices aggregated from multiple liquidity providers, including tier 1 banks, provide the best possible rates to clients.

About page, Best Prices panel

In the contract · clause Execution Policy, Execution Factors

We add a mark-up to the prices from our liquidity providers and publish the ‘’marked-up’’ prices that include our income.

07

The Arabic version of the contract page carries no terms at all, while the contract itself is English only and treats you as having understood it.

Said in public, in English

Under construction

Terms and Conditions page on the Arabic version of the site, served right to left

In the contract · clause 2.32.6

This Agreement is supplied in English and all communications from us to you for the duration of this Agreement shall be in English.

08

Support is sold as speaking your language, and every communication under the agreement is English by contract.

Said in public, in English

An unmatched trading experience – 40,000+ instruments, a choice of award-winning trading platforms and gold standard customer support from industry professionals who speak your language.

Homepage headline panel

In the contract · clause 2.32.6

This Agreement is supplied in English and all communications from us to you for the duration of this Agreement shall be in English.

09

The regulatory page claims several of the world's most respected authorities, and the firm holds one Mauritius licence with no compensation scheme behind it.

Said in public, in English

That’s why we are proud to be regulated by some of the world’s most respected national financial authorities. You can trust that we operate to the highest ethical standards, and treat your money with care.

Regulatory Environment page, opening paragraph

In the contract · clause 2.24.1

There is currently no statutory compensation scheme in place if we are unable to meet our liabilities in respect of investment business.

10

The firm commits to making sure its products are appropriate for you on one page and states that it does not assess appropriateness on every page.

Said in public, in English

To ensure the products that we offer are appropriate for you and are consistent with your needs;

Treating Customers Fairly commitments on the legal documents page

In the contract

As an Investment Dealer (Discount Broker), Match Securities provides investment services without advice such as execution only services (meaning that the suitability requirements do not apply) and does not assess whether a financial instrument or service is deemed appropriate for you as a client.

11

Algorithmic and copy trading tools are a selling point, and fast automated trading is grounds for immediate closure at the firm's sole discretion.

Said in public, in English

Feature-rich and Intuitive with tools for price analysis, algorithmic and copy trading.

Homepage, Meta Trader 5 platform panel

In the contract · clause Scalping Policy

Please be advised that all trading activity is monitored closely, and in the event it is identified that you are Scalping we reserve the right to close your account with immediate effect.

The documents this reading is based on

10 files, all published by Match Securities. 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 Match Securities publishes.

How this reading was done

Every clause above was read out of a document Match Securities publishes itself

This reading was published on .

Documents
10 of 10downloaded from the broker's site, and 10 read in full
Pages opened
26pages walked to find those documents, footer links included
Marketing pages
5public pages set against what the contract says

Who the contract is with

Match Securities

Your contract is with Match Securities, a Mauritius company the Customer Agreement gives as company number 180090 GBC, at 4th Floor, Iconebene, Rue de L'Institut, Ebene. The footer of every page calls the same business Match Liquidity T/A Match Securities, and the Privacy Notice gives the registration as C21180090. The licence is a Mauritius FSC investment dealer (discount broker) licence, numbered GB21026301 on most pages and GB2102630 on the Risk Disclosure. Clause 2.2 of the Customer Agreement hands the duty to provide the services to ML, an abbreviation the agreement never defines, and the risk warning in the Terms and Conditions refers to HML staff. No document names a second entity your account could be moved to.

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

Match Securities writes off negative balances. Term 2.13.3 says that if your account goes below zero the firm sets it back to zero, which many offshore brokers refuse to do. The terms state plainly that client money is held as client money and segregated. The complaints page gives real dates: five business days to acknowledge, 28 days to resolve, eight weeks at the outside. The conflicts policy admits in writing that the firm can gain at your expense, which most brokers never put on a public page. Charges cannot rise without 30 calendar days of written notice. Every document is a plain web page with no login and no file to download.

No earlier copy of any of these documents is available, so this is a first reading with nothing to compare against. The stored copy of the Terms and Conditions stopped a few paragraphs short of the end. We read the rest on Match Securities' own page, and it is risk warnings only. For that reason we report no depth figures for clauses taken from that document. Four prices the contract relies on are published nowhere we could reach: the Fee Schedule, the dormant account fee, the swap free holding fee and the interest rates. We could not see the Account Opening Application Form, which the Terms and Conditions make part of your agreement. No document in this set covers deposits or withdrawals, so on those there was nothing to read.

How to check any of this yourself

Every quote above links to the Match Securities 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 Match Securities 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 Match Securities 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 10, 2026.

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

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