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Contract reading

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

Every clause below is published by TibiGlobe 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: TIBIGLOBE (PTY) LTD

sole discretionhidden feewithdrawalsdeemed acceptanceunilateral amendmentjoint liabilitykyc freezecountry restrictionforum waiverprofit voiding

TibiGlobe charges $20 a month once an account sits 30 days without a trade, plus $5 a month per MT5 account. The entry account takes a $50 deposit, so two idle months can empty it. The April 2026 contract also lets TibiGlobe confiscate your profit and return only your deposit, and it treats accounts sharing a connection or a device as abusive trading. The August 2024 contract is still published beside it, with different rules.

Back to TibiGlobe

Contract risk

Money at risk
7.8/10

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

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
20
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
18
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
3

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

Critical5
Warning13
Notice2

section 26 of 29is where the deepest clause sits, 90% 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.

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.

Critical$20Fee on an unused account. Jump to the clause this comes from.Idle accounts lose $20 a month after 30 daysCritical$40Fee you were not shown. Jump to the clause this comes from.Swap-free accounts pay up to $40 a lot instead2Time to complain. Jump to the clause this comes from.Two different client agreements are published at once5 working daysWithdrawal limit. Jump to the clause this comes from.Five business days, and several ways to say no

What the documents say

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

01

Stop trading for 30 days and TibiGlobe can charge you $20 every month just for holding the account. A separate $5 monthly fee applies to each MT5 account on top. The entry account opens with a $50 deposit.

Why this matters

You can lose a small balance by doing nothing at all. On the $50 entry account, two idle months of these two fees leave you nothing to withdraw, and TibiGlobe takes the money straight from your balance.

Exhibit 1CriticalHarder than usual$20

for a period of 30 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”). The Client may regain access to his/her Trading Account by making a deposit.
Clause 17.2 in Client Agreement Version 5 April 2026, p.27
Downloaded from the broker's site on Open the reference

Buried at section 26 of 29 in the Client Agreement Version 5 April 2026, 90% of the way through.

What it costsA client opens the entry account with the $50 minimum and stops trading. The $20 inactivity fee plus the $5 maintenance fee is $25 a month, so the balance is gone in two months.

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

Firms licensed by the FCA and CySEC must disclose the cost of an inactivity charge clearly in advance and must not let it strip a retail account. This agreement sets no cap and says the amount is communicated to clients periodically rather than fixed in the contract.

TibiGlobe 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
Day 30TibiGlobe classes the account as Inactive after 30 days with no trade, no position opened or closed and no deposit.17.2
Every month afterA $20 monthly inactivity fee can be deducted from any funds held for you.17.4
Day 180The account becomes Dormant. You must contact TibiGlobe and re-submit identity documents to reopen it.17.5
Year 4TibiGlobe can close the account. Any money left is returned to you.17.6
  • Worse together with Exhibit 5Fees build while the account is idle, and asking for the money back after a quiet spell triggers a separate withdrawal charge.
02

If TibiGlobe decides your trading exploited an error or broke its rules, clause 11.22 lets it take your profit, add fees, and give back only what you paid in. Clause 12.2 lets it delete past profits at any point in the relationship.

Why this matters

Every gain you have made can be wiped, and the deposit comes back minus deposit and withdrawal fees, so you end below where you started. TibiGlobe decides whether a rule was broken, and clause 11.21 makes that decision final and binding on you.

Exhibit 2CriticalHarder than usualNew

Confiscate any profits or revenues earned from exploiting errors, charge additional fees, nullify any gains, and refund only the original deposit amount (excluding any fees for deposits or withdrawals);
Clause 11.22 in Client Agreement Version 5 April 2026, p.20
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FSCA (South Africa), FCA (UK), CySEC (Cyprus)

Firms licensed by the FSCA under the FAIS Act must point clients to the independent FAIS Ombud and cannot close that route off. This contract says TibiGlobe's own decision on these disputes is final and binding on all participants.

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

  • Worse together with Exhibit 3The conduct that triggers confiscation includes sharing an address, a phone number or a device with another client, so an ordinary household can meet the test.
  • Same clause as Exhibit 4Swap-free accounts carry a second profit annulment clause on top of this one.
03

Clause 12.1 lists accounts from the same location, on the same IP address, phone number or device as abusive trading. Clause 12.2 then lets TibiGlobe close your accounts and the accounts of anyone else it says was involved.

Why this matters

A partner, a housemate or a colleague trading from the same home or office can put your account inside this definition without either of you doing anything wrong. Once you are in it, the profit confiscation powers in clause 11.22 apply to you.

Exhibit 3CriticalRarely seenNew

use of multiple accounts under the same or different client(s) name(s) that include (i) accounts from the same location, (ii) using/indicating the same IP address/ID/phone number, (iii) showing similar deposit and withdrawal patterns, (iv) displaying identical or similar trading patterns, or (v) sharing the same device
Clause 12.1 in Client Agreement Version 5 April 2026, p.21
Downloaded from the broker's site on Open the reference

Our readingMost agreements restrict one account per person. Defining a shared address, phone number or device as abusive trading, and then allowing a third party's accounts to be closed for it, turns an ordinary household arrangement into a contract breach.

  • Worse together with Exhibit 2Meeting this definition is what unlocks the power to take your profit and return only the deposit.
04

Clause 26.4 promises no swap or rollover charges on overnight positions in an Islamic account. The fee schedule then sets a storage charge of $40 per lot on metals, $30 on exotic currency pairs and $8 on major pairs, applied after 7 days.

Why this matters

You choose this account to avoid interest charges on religious grounds and pay a holding charge by another name. TibiGlobe can also withdraw the swap-free status at any time and for any reason, and clause 26.7 lets it annul all profits made on the account.

Exhibit 4CriticalHarder than usual$40

In instances where a client holds a Swap Free Account, no swaps or rollover charges will be applied to overnight positions.
Clause 26.4 in Client Agreement Version 5 April 2026, p.46
Downloaded from the broker's site on Open the reference

Where it sits: section 17 of 29 in the Client Agreement Version 5 April 2026, 59% of the way through.

What it costsOne lot of gold held for eight days on a swap-free account attracts the $40 metals storage charge. Ten lots held the same way is $400.

  • Worse together with Exhibit 2The swap-free clause adds its own profit annulment power to the one in clause 11.22.
05

Ask for your money back without trading after your last deposit, and clause 5.17 lets TibiGlobe take a percentage of the withdrawal. It points to the Fees and Charges schedule for the rate, and that schedule contains no such percentage.

Why this matters

You cannot work out what changing your mind costs, because the number is in neither document. Clause 3.9 separately lets TibiGlobe raise withdrawal charges whenever it decides your trading has been insufficient.

Exhibit 5CriticalHarder than usual

The Client acknowledges and agrees that, in the event of a withdrawal request without any activity following the most recent deposit on the Trading Account, the Company may charge an amount equivalent to any deposit fees incurred by the Company or charge a percentage (%) of the total withdrawal amount as per the Fees and Charges schedule found on our website.
Clause 5.17 in Client Agreement Version 5 April 2026, p.11
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose all costs and charges to a retail client before they trade. This clause names a charge and leaves the amount to a schedule that does not carry it.

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

  • Worse together with Exhibit 7This undisclosed percentage sits on top of the fixed withdrawal fees that are disclosed.
06

TibiGlobe publishes the August 2024 agreement and the April 2026 agreement side by side, and both download today. They differ on profit confiscation and on what counts as abusive trading. Two fee schedules are live as well, one saying the inactivity fee is $7 and the other $20.

In plain words

Supersedes means beats: where two documents disagree, that one wins.

Why this matters

You cannot tell which terms you agreed to. If TibiGlobe takes your profit or charges you $20 a month, you have no way to show which document governs, and the agreement only settles conflicts between itself and the policies, not between its own versions.

Exhibit 6WarningRarely seen2

In case of conflict between (i) the terms included in the aforementioned documents and/or (ii) the terms included in the aforementioned documents and the terms included in this Agreement, the terms of this Agreement shall prevail.
Quoted in Client Agreement Version 5 April 2026, p.2
Downloaded from the broker's site on Open the reference

Our readingBrokers normally replace a client agreement when they update it. Leaving the superseded version downloadable, with different confiscation powers and a different inactivity fee, leaves the binding terms genuinely unsettled.

  • Worse together with Exhibit 1The two live fee schedules disagree on the inactivity charge, so a client budgeting from the older one is out by $13 a month.
  • Worse together with Exhibit 12Two complaints policies are live too, with different deadlines and different email addresses.

The Arabic site and the English contract do not match

TibiGlobe's Arabic page says Tibi Cashier Ltd acts as its legal representative at one Limassol address, while the April 2026 contract calls the same company its payment agent at another. The same Arabic footer lists six restricted jurisdictions and omits the European Economic Area, which the AML policy bars completely.

Language arbitrage2 clauses flagged

The Arabic site says Tibi Cashier Ltd acts as TibiGlobe's legal representative. The April 2026 contract says the same company, registration HE 447263, is its Payment Agent, and gives it a different Limassol address.

Why this matters

Under South African financial advice law a juristic representative is a role the licensed firm answers for. A payment agent is not. The change decides who is accountable if your deposit goes astray, and three live documents still use the old description.

Exhibit 10WarningRarely seenNew

Tibi Cashier Ltd, a company incorporated under the laws of Cyprus with registration number HE 447263 and registered office at 124 Spyrou Kyprianou, 1st Floor, Flat/Office 2, 3083 Limassol, has been appointed as the Payment Agent of the Company.
Quoted in Client Agreement Version 5 April 2026, p.1
Downloaded from the broker's site on Open the reference
Our own capture of tibiglobe.com, taken on Sep 18, 2026The claim, on Arabic site footer, company information blockVisit this page on the broker's siteDownload the full size image file

Our readingA firm restating the same subsidiary's legal role differently across four current documents, with two registered addresses for one company number, leaves the chain of responsibility for client money unsettled.

The AML policy requires every client to live outside the European Economic Area. The public restricted countries notice lists North Korea, the Congo, Iran, Myanmar, the United States and Canada, and says nothing about Europe.

Why this matters

If you live in the EEA you can read the public notice, see your country is absent, register and deposit. The bar only surfaces at verification, after your money has arrived.

Exhibit 17WarningHarder than usual

They must have a permanent residence outside the European Economic Area (EEA) and be at least 18 years old.
Clause 3 in AML Policy, p.3
Read from the broker's site on Open the reference

Where it sits: section 11 of 23 in the AML Policy, 48% of the way through.

The charges that are missing from the fee schedule

A €10 fee applies to any withdrawal below €50, and swap-free accounts pay up to $40 a lot in storage charges despite a clause promising no overnight cost. Worse, clause 5.17 lets TibiGlobe take a percentage of a withdrawal made without trading and points to a schedule that does not state the rate.

Cost disclosure1 clause flagged

Any withdrawal below €50 costs €10. Card withdrawals cost €3, SEPA transfers €5 and SWIFT transfers €25. Ozow withdrawals cost ZAR 20.

Why this matters

Taking out €40 leaves you €30, so a quarter of your money pays for the transfer. The charge is flat, which means the less you withdraw the larger the share you lose.

Exhibit 7WarningHarder than usual$10

Withdrawals below €50 will incur a fee of €10 per transaction.
Clause 2.5 in Fees and Charges V5, p.4
Read from the broker's site on Open the reference

Buried at section 24 of 29 in the Fees and Charges V5, 83% of the way through.

What it costsA €40 withdrawal attracts the €10 fee and €30 reaches you. That is a quarter of the amount gone.

Five business days, once TibiGlobe agrees the conditions are met

TibiGlobe processes withdrawals in five business days only when five conditions are satisfied, and it judges them. It can refuse your chosen method, cancel a request over paperwork, and under clause 18.4 refuse withdrawal while it holds funds. A card chargeback triggers forced closure of your trades and blocks deposits even during a margin call.

Exit conditions2 clauses flagged

TibiGlobe processes a withdrawal within five business days only if five separate conditions are met. It can refuse the method you ask for, cancel the request if you are slow with documents, and clause 18.4 lets it refuse withdrawal altogether while it holds funds against your obligations.

Why this matters

The five day clock only starts once TibiGlobe agrees every condition is satisfied, and it decides that. Money must return by the route it arrived, so a closed card or a dead payment account becomes your problem, not theirs.

Exhibit 8WarningStandard wording5 working days

Upon the Company receiving an instruction from the Client to withdraw funds from the Client Account, the Company shall process such instruction within five (5) Business Days, if the following requirements are met:
Clause 5.12 in Client Agreement Version 5 April 2026, p.10
Downloaded from the broker's site on Open the reference

If your card issuer raises a chargeback, clause 5.20 lets TibiGlobe close all your open trades, stop you withdrawing, and stop you depositing even when you have a margin call. It can also add a research fee with no stated amount.

Why this matters

Being blocked from depositing during a margin call means your positions get closed out at a loss you could have prevented. The block lasts as long as TibiGlobe decides, and the research fee comes out of your balance.

Exhibit 9WarningHarder than usual

the restriction on making deposits using any payment method to Client Trading Account, even in cases of margin call(s),
Clause 5.20 in Client Agreement Version 5 April 2026, p.12
Downloaded from the broker's site on Open the reference
  • Worse together with Exhibit 13Positions close automatically at half the margin requirement, so a deposit block during a margin call makes liquidation near certain.

The agreement binds you to bonus terms TibiGlobe does not publish

Clause 1 of the client agreement incorporates eight documents, including Trading Bonus Terms and Conditions, and says they form one and the same document. No bonus terms are published. The Risk Disclosure Notice, which clause 33.2 relies on for the negative balance policy, is missing too.

Documents you cannot read1 clause flagged

Clause 1 binds you to eight documents including the Trading Bonus Terms and Conditions, and says they form one and the same document as the agreement. No bonus terms are published on the legal page.

Why this matters

You accept rules you cannot read when you tick the box at registration. The same gap covers the Risk Disclosure Notice, which clause 33.2 relies on for the negative balance policy and which is also missing.

Exhibit 14WarningHarder than usual

The aforementioned documents shall collectively and/or respectively be considered part of the Agreement and shall be construed as one and the same document.
Quoted in Client Agreement Version 5 April 2026, p.2
Downloaded from the broker's site on Open the reference

A household on one connection can breach the trading rules

TibiGlobe lists accounts on the same IP address, phone number or device as abusive trading, and can close the accounts of anyone it says was involved. Leverage runs to 1:500 with positions closed at 50% of margin and no protection against a negative balance. Fees can change without your consent.

Shared connections2 clauses flagged

Every account type offers leverage up to 1:500. Positions close automatically once your margin falls to 50% of the requirement. Clause 14.6 makes you compensate TibiGlobe for losses caused by its own widening of spreads.

Why this matters

At 1:500 a small move against you wipes the account. The contract names no protection against a negative balance, and points instead to a Risk Disclosure Notice that TibiGlobe does not publish.

Exhibit 13WarningHarder than usual50%

In the case where the Margin is equal to or less than 50% of the Margin requirement, then Client’s positions shall be automatically closed, starting from the most unprofitable, at the prevailing market price.
Clause 14.4 in Client Agreement Version 5 April 2026, p.24
Downloaded from the broker's site on Open the reference
Set against a regulated standard: ESMA (EU), FCA (UK), CySEC (Cyprus)

Firms under ESMA and FCA rules cap retail leverage on major currency pairs at 30:1 and must give retail clients protection against a negative balance. This contract offers 1:500 and names no such protection.

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

  • Only applies after Exhibit 14The only mention of negative balance protection points to a document that is not published.

Clause 25.1 says TibiGlobe's fees are subject to change without prior consultation or consent. Clause 20.7 elsewhere promises five business days notice on its website, and treats your silence as acceptance.

Why this matters

Your costs can rise while you hold positions, and you carry the duty to keep checking the website for it. Your only route to reject a change is to close the account before the date it takes effect.

Exhibit 16WarningHarder than usual5 working days

By accepting this Agreement, the Client acknowledges that they have read, understood, and agreed to the Company’s fees and charges, which are subject to changes without prior consultation or consent.
Clause 25.1 in Client Agreement Version 5 April 2026, p.44
Downloaded from the broker's site on Open the reference

Two client agreements and two complaints policies, all live

TibiGlobe publishes the August 2024 and April 2026 client agreements together, and they differ on profit confiscation and abusive trading. Two fee schedules disagree on the inactivity fee, $7 against $20. Two complaints policies give different deadlines, different email addresses, and only one names the FAIS Ombud and the six month limit for reaching it.

Which terms bind you1 clause flagged

One live complaints policy promises a reply in 30 days and never mentions the ombud. The other allows six weeks, lets TibiGlobe ask for more time, and names the FAIS Ombud. They give different email addresses for sending a complaint.

Why this matters

You have six months from TibiGlobe's final answer to reach the FAIS Ombud, and only one of the two policies tells you so. Send your complaint to the address in the other policy and the clock still runs.

Exhibit 12WarningHarder than usual30 days

The Company will make all reasonable efforts to provide a response within 30 days.
Clause C.3 in Complaints Procedure Policy Final WHITE NEW LOGO, p.2
Read from the broker's site on Open the reference

Where it sits: section 12 of 28 in the Complaints Procedure Policy Final WHITE NEW LOGO, 43% of the way through.

Set against a regulated standard: FSCA (South Africa)

Firms licensed by the FSCA under the FAIS Act must give clients a clear complaints procedure and tell them how to reach the FAIS Ombud. TibiGlobe publishes two procedures, and only the newer one carries the ombud route.

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

Fifteen days or a month, depending which document you read

TibiGlobe's refund policy gives 15 days to supply identity documents while its April 2025 AML policy gives a month. Either way the money is already deposited, and verification is a precondition for any withdrawal, so an incomplete file leaves your balance stuck.

Verification1 clause flagged

The refund policy gives you 15 days to supply your identity documents. The April 2025 AML policy gives you a month. Miss whichever applies and TibiGlobe can reject the application and send the money back.

Why this matters

You cannot tell which deadline governs, and your money sits with TibiGlobe until it is met. Verification is also a precondition for any withdrawal, so an incomplete file leaves the balance stuck.

Exhibit 15WarningHarder than usual15 days

Upon the receipt of the account opening application, the Client is given a 15-day timeframe to provide all required information and documentation. Failure to provide these documents within the specified timeframe gives the Company the right to reject the application and refund the available balance to the original deposit method.
Quoted in Refund and Cancellation Policy, p.1
Read from the broker's site on Open the reference

Where it sits: section 12 of 23 in the Refund and Cancellation Policy, 52% of the way through.

The independent execution venue is a sister company

TibiGlobe's agreement describes straight through processing to a liquidity provider, with TibiGlobe acting as broker or agent. Its FAIS disclosure names Tibiglobe MU in Mauritius as the firm that executes all client orders, and its Conflicts of Interest Policy lists Tibiglobe MU as a sister company. TibiGlobe sets the prices you trade at, at its absolute discretion.

In plain words

Liquidity providers are outside banks and brokers.

Related party execution1 clause flagged

The client agreement says orders pass straight through to a liquidity provider and that TibiGlobe acts as broker or agent. The FAIS disclosure names that executing firm as Tibiglobe MU in Mauritius, which the Conflicts of Interest Policy lists as a sister company.

Why this matters

The independent venue that is meant to protect you from a conflict is owned by the same group. TibiGlobe also sets the prices you trade at, at its absolute discretion, and adds its own spread to the feed it receives.

Exhibit 11WarningHarder than usual

The product supplier of TibiGlobe is Tibiglobe MU, registered and regulated in the Republic of Mauritius with license number GB24203464. All client orders are executed by Tibiglobe MU.
Clause 3 in FAIS DISCLOSURE DOCUMENT Tibiglobe PTY Ltd, p.4
Read from the broker's site on Open the reference

Buried at section 40 of 47 in the FAIS DISCLOSURE DOCUMENT Tibiglobe PTY Ltd, 85% of the way through.

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

Firms licensed by the FCA and CySEC must disclose a conflict of interest to a retail client in enough detail to be understood before they trade. Finding this one means reading three documents and matching a company name across them.

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

Segregation is promised in a document that is not binding

TibiGlobe's AML policy states that all client funds sit in separate segregated accounts, then states that the policy is not contractually binding. Clause 6.4 of the agreement permits funds passed to a third party to be pooled, with no claim to a specific sum on insolvency. No investor compensation scheme is named anywhere in the document set.

Client money2 clauses flagged

The AML policy states that all client funds sit in separate segregated accounts. Clause 6.4 of the agreement says that once TibiGlobe passes funds to a third party they may be pooled, and you have no claim to a specific sum if that party fails.

Why this matters

The promise you are shown and the clause that binds you say different things about what happens to your money in an insolvency. The AML policy also states it is not contractually binding, so the clause is what governs.

Exhibit 18WarningHarder than usual

When the Company passes Client funds to a third party, those funds may be held in an omnibus account and may not be separable from the funds of other Clients or the third party itself. In such cases, the Client will not have a specific claim to a particular sum in a specific account in the event of insolvency.
Clause 6.4 in Client Agreement Version 5 April 2026, p.13
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), FSCA (South Africa)

Firms licensed by the FCA and CySEC must hold retail client money separately from their own and explain the risk when funds pass to a third party. No investor compensation scheme is named anywhere in this document set.

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

The Conflicts of Interest Policy says TibiGlobe keeps a register of identified conflicts, reviewed every year, recording each conflict and the controls placed on it. The published register, and the gifts and personal interest registers beside it, have no entries.

Why this matters

The one document that would show you which conflicts TibiGlobe has found, including its Mauritius sister company executing your orders, records none.

Exhibit 20NoticeHarder than usual

It shall maintain a register of identified conflicts of interest. The register will be compiled in conjunction with the board of Tibiglobe (Pty) Ltd and updated with all new conflicts as soon as it they are identified.
Clause 4 in Conflicts of Interest Policy, p.6
Read from the broker's site on Open the reference

Buried at section 42 of 47 in the Conflicts of Interest Policy, 89% of the way through.

  • Worse together with Exhibit 11The group relationship that most needs recording in this register is the one that executes client orders.

Disputes go to South African courts, wherever you live

The August 2024 agreement, still published today, gives the courts of South Africa exclusive jurisdiction and has you waive any objection to the venue. It also asks you to relinquish all immunity, including sovereign immunity, over yourself and your assets. The losing side pays the winner's legal costs.

Where you would sue1 clause flagged

The August 2024 agreement, still published today, puts every dispute before the courts of South Africa and makes you waive any objection to that. It also has you give up all immunity, including sovereign immunity, over you and your assets.

Why this matters

Bringing a claim means doing it in Johannesburg, whatever country you live in. The losing side pays the other side's legal costs under the same clause.

Exhibit 19NoticeRarely seen

This Agreement shall be governed by and construed in accordance with the laws of South Africa, without regard to its conflict of laws principles.
Clause 37.1 in Client Agreement Version 2 August 2024, p.56
Downloaded from the broker's site on Open the reference

Our readingSouth African law for a South African firm is ordinary. A sovereign immunity waiver is drafted for government and state-owned counterparties, and reads oddly in an agreement offered to retail clients.

Where the marketing and the contract disagree

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

01

The Arabic site calls Tibi Cashier the legal representative at one Limassol address while the governing contract calls it the payment agent at another.

Said in public, in Arabic

Tibi Cashier Ltd، هي شركة مسجلة بموجب قوانين جمهورية قبرص، برقم التسجيل HE 447263، وعنوانها مسجل في 79 سبيرو كيبريانو، أغورا كيني، الطابق الأول، مكتب 2، بوتاموس جيرماسوجيا، 4042، ليماسول، قبرص، وتعمل كممثل قانوني .

Word for word in English: Tibi Cashier Ltd is a company registered under the laws of the Republic of Cyprus, registration number HE 447263, with its registered address at 79 Spyrou Kyprianou, Agora Kinni, 1st Floor, Office 2, Potamos Germasogeia, 4042, Limassol, Cyprus, and it acts as legal representative.

Arabic site footer, company information block

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

In the contract · clause 1

Tibi Cashier Ltd, a company incorporated under the laws of Cyprus with registration number HE 447263 and registered office at 124 Spyrou Kyprianou, 1st Floor, Flat/Office 2, 3083 Limassol, has been appointed as the Payment Agent of the Company.

02

The public restricted countries notice names six jurisdictions and omits the European Economic Area, which the AML policy bars entirely.

Said in public, in Arabic

القيود الإقليمية: لا تقدم Tibiglobe (PTY) Ltd خدماتها للمقيمين في بعض الولايات القضائية، بما في ذلك جمهورية كوريا الديمقراطية الشعبية (كوريا الشمالية)، جمهورية الكونغو الديمقراطية، إيران، ميانمار (بورما)، الولايات المتحدة الأمريكية والأقاليم التابعة لها، كندا، أو أي ولاية قضائية يكون فيها توزيع أو استخدام خدماتها ومنتجاتها مخالفًا للقوانين أو اللوائح المحلية.

Word for word in English: Regional restrictions: Tibiglobe (PTY) Ltd does not offer its services to residents of certain jurisdictions, including the Democratic People's Republic of Korea (North Korea), the Democratic Republic of the Congo, Iran, Myanmar (Burma), the United States of America and its dependent territories, Canada, or any jurisdiction where the distribution or use of its services and products is contrary to local laws or regulations.

Arabic site footer, regional restrictions notice

In the contract · clause 3

They must have a permanent residence outside the European Economic Area (EEA) and be at least 18 years old.

03

The AML policy promises every client's funds are segregated while clause 6.4 permits pooling with no claim to a specific sum on insolvency.

Said in public, in English

! All TIBIGLOBE client funds are held in separate, segregated accounts that are designated solely for client deposits and withdrawals!

AML Policy April 2025, section 2, set off with exclamation marks

In the contract · clause 6.4

When the Company passes Client funds to a third party, those funds may be held in an omnibus account and may not be separable from the funds of other Clients or the third party itself. In such cases, the Client will not have a specific claim to a particular sum in a specific account in the event of insolvency. The Company assumes no liability or responsibility for any resulting losses.

What changed quietly

This is our first reading of TibiGlobe, so there is nothing to compare it against.

  • REWRITTENClause 2.6 · Version 2 – July 2024 to Version 5 – August 2025

    The monthly inactivity fee rose from $7 to $20, and both schedules are still published.

    Inactive accounts are defined in the Client Agreement. The monthly inactivity fee is currently set at $20.

  • ADDEDClause 11.22 · Version 2 August 2024 to Version 5 April 2026

    The power to confiscate profit and return only the deposit is new: the 2024 agreement ended at clause 11.18.

    Confiscate any profits or revenues earned from exploiting errors, charge additional fees, nullify any gains, and refund only the original deposit amount (excluding any fees for deposits or withdrawals);

  • REWRITTENClause 12.1 · Version 2 August 2024 to Version 5 April 2026

    Section 12 grew from three kinds of market abuse into a long list that now catches accounts sharing an address, a phone number or a device.

    use of multiple accounts under the same or different client(s) name(s) that include (i) accounts from the same location, (ii) using/indicating the same IP address/ID/phone number, (iii) showing similar deposit and withdrawal patterns, (iv) displaying identical or similar trading patterns, or (v) sharing the same device

  • REWRITTENClause 1 · Version 2 August 2024 to Version 5 April 2026

    Tibi Cashier went from juristic representative to payment agent, and the definition of juristic representative was dropped from the agreement.

    Tibi Cashier Ltd, a company incorporated under the laws of Cyprus with registration number HE 447263 and registered office at 124 Spyrou Kyprianou, 1st Floor, Flat/Office 2, 3083 Limassol, has been appointed as the Payment Agent of the Company.

  • REWRITTENClause 2.5 · Version 2 – July 2024 to Version 5 – August 2025

    The SWIFT withdrawal fee rose from €20 to €25.

    SWIFT transfers will incur a fee of €25 per transaction.

  • REWRITTENClause C.3 · Complaints Procedure Policy Final WHITE NEW LOGO to Complaints Procedure Policy

    The reply deadline grew from 30 days to six weeks and TibiGlobe gained a right to ask for more, while the ombud route was added.

    The Company will make all reasonable efforts to provide a response within six (6) weeks. If, however, this is not possible, the Company has the right to request for extra time to resolve the matter and it will notify the Client in writing, providing an estimated timeline for resolving the matter.

  • ADDEDClause 2.3 · Version 2 – July 2024 to Version 5 – August 2025

    The swap-free holding charge gained a published rate table, from $8 a lot on major pairs up to $40 on metals.

    Swap Free or Islamic accounts are subject to an Administrative (storage) fee which will be imposed on positions held open throughout consecutive trading sessions as per the table below:

The documents this reading is based on

18 files, all published by TibiGlobe. 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 TibiGlobe publishes.

How this reading was done

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

This reading was published on .

Documents
15 of 18downloaded from the broker's site, and 15 read in full
Pages opened
28pages walked to find those documents, footer links included
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
8clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

TIBIGLOBE (PTY) LTD

You contract with TIBIGLOBE (PTY) LTD, registration 2018/054431/07, at 169 Oxford Road, Cradock Square, 1st Floor, Rosebank, Gauteng, 2196, South Africa, holding FSCA licence FSP 50012. It is not the firm that executes your trades. The FAIS Disclosure Document names Tibiglobe MU in Mauritius, licence GB24203464, as the product supplier and says all client orders are executed there. The Conflicts of Interest Policy lists Tibiglobe MU as a sister company under a common parent, Tibi Holding Ltd. A Cyprus company, Tibi Cashier Ltd, registration HE 447263, handles your money, and the documents disagree about its role.

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

TibiGlobe dates its documents and states most numbers plainly: $20 inactivity, $5 maintenance, €5 SEPA, €25 SWIFT, and a full storage fee table for swap-free accounts. Many brokers publish none of that. The complaints policy names the FAIS Ombud with its address and phone number and allows six months to use it. The Conflicts of Interest Policy names the group companies, which is how we could tell that the firm executing client orders is a sister company.

The April 2026 Client Agreement runs to 61 pages and its last pages were cut off before we could read them. We read sections 1 to 34 of the current agreement, not the closing sections on miscellaneous terms, complaints and governing law. For those we read the August 2024 agreement, which TibiGlobe still publishes, and every quotation about governing law is credited to that older file. No earlier copy of any of these documents is available, so this is a first reading with nothing to compare against. Every public claim quoted here comes from the broker's own Arabic language page in our document set, which we read apart from its closing lines.

How to check any of this yourself

Every quote above links to the TibiGlobe 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 TibiGlobe 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 TibiGlobe 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 18, 2026.

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

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