The Agreement is entered by and between Richfield Capital Limited (hereinafter called the “Company”, or “we” or “us”) on the one part and the Client (which may be a legal entity or a natural person) who has completed the Account Opening Application Form and has been accepted by the Company as a Client (“Client” or “you” or “your”) on the other part.
The Company is regulated and authorised by the International Financial Services Commission of Belize under license number IFSC/60/440/TS/15-16. The Company is registered in Belize, with registration number 156.881. Its registered address at No. 5 Cork Street, Belize.
This Client Agreement together with its Appendices 1 and 2 and the “Risk Disclosure and Warnings Notice” found on the Website (together the “Agreement”), as amended from time to time, set out the terms upon which the Company will offer Services to the Client and shall govern the relationship between the Parties. By applying to the Company to open a Trading Account the Client accepts the terms and conditions of the Agreement.
The Company may provide the above documents in languages other than English. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein and the Client should also refer to the English version and the Website for information on the Company and its policies
The Agreement overrides any other agreements, arrangements, express or implied statements made by the Company or any Introducer(s). You accept the terms and conditions in the Client Agreements when you register as a user of the Trading Platform.
When we refer to “you” and “your” we mean the Client of the Company who is a licensed user of the Trading Platform or any visitor to our Website www.24option.com/international who is not a Client of the Company. If you decide to download our Software to use the trading demonstration then the terms and conditions within this document (to the extent applicable) apply to you and by downloading the Software you accept the same and agree to abide by the terms and conditions herein, although you shall not be treated as our Client and we shall have not obligations towards you.
For any questions or notices, you may contact the Company at:
Address: Huston and Eyre Street Cornet, Blake building Office 301, Belize
Telephone: +501 2237420
Email: [email protected]
By accepting the current Agreement, you confirm that you are able and agree to receive information, including any amendments to the present agreement, either via email or through this Website www.24option.com/international).
1.1. In this Agreement:
“Abusive Trading” shall mean the following actions, but not limited to, pip-hunting, scalping, arbitrage, manipulations, a combination of faster/slower feeds, violation of the Client’s obligations under paragraph 15.16 of the Client Agreement or violation of paragraph 7.6 of Appendix 1.
“Account Credentials” shall mean a unique username and password used by you to access and use the Trading Platform.
“Affiliate” shall mean in relation to the Company, any entity which directly or indirectly controls or is controlled by the Company, or any entity directly or indirectly under common control with the Company; and “control” means the power to direct or the presence of ground to manage the affairs of the Company or entity.
“Agreement” shall mean this “Client Agreement” with its Appendices 1 and 2 and the Risks Disclosure and Warnings Notice, found on the Website, as amended from time to time and any subsequent Appendices added thereto.
“Authorized Person” shall mean you or any of your officers, partners, principals or employees.
“Applicable Regulations” shall mean any rules of a relevant regulatory authority having powers over the Company and any laws which are applicable on the Company.
“Base Currency” shall mean in an FX Contract the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
“Binary Option” shall mean the Financial Instrument traded under this Agreement, which allows the traders to earn a fixed amount if they correctly predict whether the value of the Underlying Asset will reach above or below the Strike Price when it expires. If traders incorrectly predict the direction of the asset’s value, they lose their investment.
“Business Day” shall mean any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January or any other Belize or international holidays to be announced on the Company’s Website.
“Buy” shall mean a Transaction in a Binary Option or FX and CFD that is opened by offering to buy a specific number of a certain Underlying Asset, and may also in our dealings with you in FX and CFDs, be referred to as a “long” or “Long Position”.
“Call Option” shall mean the one of the two option choices in Binary Options trading. If a trader believes that the value of the Underlying Asset will reach a higher value at the time of expiry, then they can purchase a call option.
“Close at Loss” shall mean an offer to close a Transaction in an FX and CFD position at a price determined in advance by you which, in the case of a Buy is lower than the opening Transaction price and in the case of a Sell is higher than the opening Transaction price.
“Close at Profit” shall mean offer to close a Transaction in an FX and CFD position at a price determined in advance by you which, in the case of a Buy is higher than the opening Transaction price and in the case of a Sell is lower than the opening Transaction price.
“Contract for Difference or CFD” shall mean the Financial Instrument which is a contract between the parties (typically described as “buyer” and “seller”), stipulating that the seller will pay to the buyer the difference between the current value of an Underlying Asset and its value at a future time; if the difference is negative, then the buyer pays instead to the seller.
“Currency Pair” shall mean the object or Underlying Asset of an FX Contract based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.
“Event of Default” shall have the meaning given in paragraph 27.1. of this Client Agreement.
“Difference” shall mean in an FX and CFD the difference in price upon the opening of a Transaction and the closing of such Transaction.
“Effective Date” shall mean the date upon which you download or obtain a copy of the Trading Platform, by any means whatsoever.
“Expert Advisor” shall mean a mechanical online trading system designed to automate trading activities on an electronic trading platform such as the Company’s Trading Platform. It can be programmed to alert the Client of a trading opportunity and can also trade his Trading Account automatically managing all aspects of trading operations from sending orders directly to the Trading Platform to automatically adjusting stop loss, Trailing Stops and take profit levels.
“Expiry Date” shall mean the date set specified on the Trading Platform with respect to certain Underlying Asset upon which any open Transaction for such Underlying Asset shall expire automatically.
“Financial Data” shall mean any financial and market data, price quotes, news, analyst opinions, research reports, signals/trading alerts, graphs or any other data or information whatsoever available through the Trading Platform.
“Financial Institution” shall mean banks, financial institutions, brokers or other trading organizations.
“Financial Instrument” shall mean the Financial Instruments of CFDs and Binary Options.
“Force Majeure Event” shall have the meaning as set out in paragraph 17.1. of this Client Agreement.
“FX Contract” or “FX” shall mean the type of CFD where the Underlying Asset is a Currency Pair. Hence, any mention to CFDs in this Agreement also covers FX Contracts. So, although, FX Contracts are included in the definition of CFDs, they may be mentioned separately in this Agreement and/or on the Company Website and various Company policies.
“Initial Margin” shall mean the minimum amount of money required in your Trading Account in order to open a Transaction, as specified on the Trading Platform from time to time for each specific Underlying Asset.
“Intellectual Property Rights” shall mean patents, trademarks, service marks, logos, get-up, trade names, internet domain names, rights in designs, copyright (including rights in computer software), database rights, semi-conductor topography rights, utility models, rights in know-how and other intellectual property rights, in each case whether registered or unregistered and including applications for registration, and all other rights or forms of protection having equivalent or similar effect anywhere in the world.
“Introducer” shall have the meaning as set put in paragraph 39.1. of this Client Agreement.
“Investment Services” shall mean the Investment Services under the Company’s CIF license which can be found in the document “Company Information” on the Website.
“Long Position” for FX and CFD trading shall mean a buy position that appreciates in value if underlying market prices increase. For example, in respect of Currency Pairs: buying the Base Currency against the Quote Currency
“Limit Order” shall have the meaning as set out in paragraph 2.4. of Appendix 1.
“Maintenance Margin” shall mean the minimum amount of money required in your Trading Account as specified on the Trading Platform in order to keep a Transaction open on the Trading Platform.
“Manifest Error” shall mean any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute Transactions for exaggerated volumes of Underlying Assets or at manifestly incorrect market price quotes or prices at a clear loss.
“Margin” shall mean the Initial Margin and the Maintenance Margin collectively.
“Margin Call” shall mean a demand by us for you to increase the amount of money in your Trading Account to satisfy our Margin requirements, from time to time in our sole and absolute discretion, including without limitation a call under paragraph 14.2. of this Client Agreement.
“Market Order” shall mean Orders which are executed at the best available market price.
“Normal Market Size” shall mean the maximum number of Underlying Assets that we believe, in our sole discretion, an Underlying Market trading in such an Underlying Assets can comfortably handle, having regard, if appropriate, to the normal market size set by such an Underlying Market or any other equivalent or analogous level set by the Underlying Market on which the Underlying Assets is traded.
“Open Position” shall mean any open option contract (call and / or put) which has not been closed.
“Order” shall mean an instruction from the Client to trade in Binary Options or FX and CFDs. For Binary Options it means a Call Option or a Put Option; for FX and CFD it means a Close at Loss or Close at Profit order.
“Qualifying money market fund” shall mean a collective investment undertaking authorised under the Open-Ended Undertakings for Collective Investment in Transferable Securities (UCITS) and Related Issues law, or which is subject to supervision and, if applicable, authorised by an authority under the national law of a Member State, and which satisfies the following conditions:
(a) its primary investment objective must be to maintain the net asset value of the undertaking either constant at par (net of earnings), or at the value of the investors’ initial capital plus earnings;
(b) it must, with a view to achieving that primary investment objective, invest exclusively in high quality money market instruments with a maturity or residual maturity of no more than 397 days, or regular yield adjustments consistent with such a maturity, and with a weighted average maturity of 60 days. It may also achieve this objective by investing on an ancillary basis in deposits with credit institutions;
(c) it must provide liquidity through same day or next day settlement;
“Quote” shall mean the information of the current price for a specific Underlying Asset, in the form of the Bid and Ask prices.
“Quote Currency” shall mean in an FX Contract the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.
“Parties” shall mean the parties to this Client Agreement – the Company and the Client.
“Pip” shall mean in an FX and CFD Transaction one hundredth of one percentage point.
“Position” shall mean your position in relation to any Binary Option or FX and CFD currently open on your Trading Account.
“Registration Data” shall mean certain personal and financial information that you are required to provide in order to download and use the Trading Platform and become our Client including Account Credentials, such information can include without limitation a copy of your passport, driving license and/or Photo identity card.
“Put Option” shall mean one of the two option choices in Binary Option trading. If a trader believes that the value of the underlying asset will drop to a lower value at the time of expiry, then they can purchase a call option.
“Sell” shall mean an FX and CFD Transaction that is opened by offering to sell a specific number of a certain Underlying Asset, and may also in our dealings with you, be referred to as a “short” or “short position”.
“Services” shall mean the services to be offered by the Company to the Client under this Agreement, as set out in paragraph 8.1. of this Client Agreement.
“Scalping” shall mean the situation where the Client opens too many positions in CFDs at the same time and closes them for less than five minutes or buying at Bid price and selling at Ask price, so as to gain the Bid/Ask difference.
“Slippage” shall mean the difference between the expected price of a Transaction in a CFD or Binary Option, and the price the Transaction is actually executed at. At the time that an Order is presented for execution, the specific price requested by the Client may not be available; therefore, the Order will be executed close to or a number of pips away from the Client’s requested price. If the execution price is better than the price requested by the Client, this is referred to as positive slippage. If the executed price is worse than the price requested by the Client, this is referred to as negative slippage. Slippage often occurs during periods of higher volatility (for example due to due to news events) making an Order at a specific price impossible to execute, when market orders are used, and also when large Orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade.
“Software” shall mean the software provided by us which you will need to download in order to use the Trading Platform.
“Spread” for FX and CFD trading shall mean the difference between Ask and Bid of an Underlying Asset in a FX and CFD at that same moment.
“Swap or Rollover” for FX and CFD trading shall mean the interest added or deducted for holding a position open overnight.
“Strike Price” shall mean the price at which the owner of a Binary Option can purchase (call) or sell (put) the Underlying Asset.
“Trading Account” shall mean the exclusive personalized account of the Client consisting of all the Open Positions and Orders of the Client the balance of the Client money and deposit/withdrawal transactions of the Client money. More information on the various types of Trading Accounts offered by the Company from time to time and their particular characteristics and requirements may be found in the Website.
“Trading Platform” shall mean the electronic mechanism operated and maintained by the Company, consisting of a trading platform, computer devices, software, databases, telecommunication hardware, programs and technical facilities, which facilitates trading activity of the Client in Binary Options or FX and CFDs via the Trading Account.
“Trailing Stop” in FX and CFD trading shall mean a stop-loss order set at a percentage level below the market price – for a Long Position. The trailing stop price is adjusted as the price fluctuates. A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached “trailing” amount. As the market price rises, the stop price rises by the trail amount, but if the pair price falls, the stop loss price doesn’t change, and a market order is submitted when the stop price is hit.
“Third Party License” shall mean licenses from third parties governing third party software embedded or used in the Trading Platform.
“Trading Hours” shall mean the hours of trading as set forth on the Trading Platform for a particular Underlying Asset.
“Transaction” shall mean either the opening or closing of an offer to either buy or sell a Binary Option or FX and CFD for an Underlying Asset on the Trading Platform, whether by you or us.
“Underlying Asset” shall mean the object or underlying asset in a Binary Option or CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.
“Underlying Market” shall mean the relevant market where the Underlying Asset is traded such as securities or futures exchanges, clearing houses, self-regulatory organizations, multilateral trading facilities or alternative trading systems for Financial Instruments or Underlying Assets.
“Website” shall mean the Company’s website at www.24option.com/international or such other website as the Company may maintain from time to time.
“Written Notice” shall have the meaning set out in paragraph 34.5. of this Client Agreement.
1.2. Words importing the singular shall import the plural and vice versa. Words importing the masculine shall import the feminine and vice versa. Words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.
1.3. Paragraph headings are for ease of reference only.
1.4. Any reference to any act or regulation or Law shall be that act or regulation or Law as amended, modified, supplemented, consolidated, re-enacted or replaced from time to time, all guidance noted, directives, statutory instruments, regulations or orders made pursuant to such and any statutory provision of which that statutory provision is a re-enactment, replacement or modification.
2.1. The Trading Platform is not intended for distribution to, or use by, any person:
2.2. Without derogating from the above, we reserve the right, acting reasonably, to suspend and/or refuse access to and use of the Trading Platform to anyone in our sole and absolute discretion.
2.3. You acknowledge that we may provide the Trading Platform to other parties, and agree that nothing herein will be deemed or construed to prevent us from providing such services.
2.4. Subject to the terms and conditions of this Agreement, we hereby grant you, a personal limited, non-exclusive, revocable, non-transferable and non-sub-licensable license to install and/or use the Trading Platform in object code only, solely for your personal use and benefit in accordance with the terms of this Agreement.
2.5. If any third party software is included within or embedded in the Trading Platform, then such embedded third party software shall be provided subject to the terms of this Agreement which apply to the Trading Platform. You shall fully comply with the terms of any Third Party Licenses that we provide to you from time to time. We provide no express or implied warranty, indemnity or support for the Third Party Licenses, and will have no liability.
2.6. We reserve any and all rights to the Trading Platform not expressly granted to you by this Agreement. The Trading Platform is licensed to you by us and not sold to you. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill, copyrights, trademarks, logos, know how, patents and any intellectual property rights, are and shall remain owned solely by the Company or our licensors. Except for the license expressly granted to you under this paragraph, no other license, right, or interest in any goodwill, trademark, copyright, logo, know how, patent, service mark or other Intellectual Property Right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.
2.7. You shall take all reasonable steps to:
2.8. Please inform us in writing if you encounter any problems with the Trading Platform, or have any suggestions for modifications, design changes and improvements. We shall have the right, but not the obligation, to make modifications to the Trading Platform based upon your suggestions. Any modifications, design changes and improvements made to the Trading Platform based on your feedback shall be the undisputed sole property of the Company.
2.9. We will deliver the Trading Platform with reasonable skill and care.
2.10. From time to time and at our sole discretion, we shall have the right to add to, modify, or remove any of the Trading Platform without liability under this Agreement and if we do so we shall use reasonable endeavors to replace any part of the Trading Platform with an equivalent where practicable.
2.11. We have the right shut down the Trading Platform at any time for maintenance purposes without prior notice to the Client, but this will be done only in weekends. In these cases, the Trading Platform will be inaccessible.
2.12. We make no express or implied representation or warranty:
2.14. You agree not to:
2.15. You shall not be entitled to download, save or copy the Trading Platform.
2.16. Should we reasonably suspect that you have violated the terms of paragraphs 2.13.-2.1.5 hereunder, we are entitled to take one or more of the counter measures of paragraph 27.2.
3.1. In the event that we accept you as our Client we shall open a Trading Account in your name which will allow you to place Orders on our Trading Platform. It is agreed and understood that the Company offers different types of Trading Accounts, which have different margin Requirements and characteristics.
3.2. In order to access the Trading Account, you will be asked to enter your Account Credentials issued by us to you which are confidential and shall be used solely by you.
3.4. If we believe that there is likely to be a breach of security we may require you to change your Account Credentials or suspend your access to the Trading Platform. We reserve the right to edit, amend or issue you with new Account Credentials or require a change of your Account Credentials at any time by giving notice to you.
3.5. You are responsible for ensuring that you alone control access to your Account Credentials, and that no minor or other person is granted access to the Trading Platform using your Account Credentials. You acknowledge that you are ultimately and solely responsible for all actions on the Trading Platform through your Registration Data including any unauthorized disclosure of your Account Credentials.
3.6. You undertake to immediately notify us immediately first orally and then in writing if you become aware of any loss, theft or use by any other person or entity other than you, of any of your Registration Data, including your Account Credentials. We will then take steps to prevent any further use of such Account Credentials and will issue replacement Account Credentials. You will be unable to place any Orders until you receive your replacement Account Credentials.
3.7. If we are informed from a reliable source that your Account Credentials may have been received by unauthorized third parties, we may, at our discretion without having an obligation to you, deactivate the Client Account.
3.8. You acknowledge that we bear no responsibility if unauthorized third persons gain access to information, including electronic addresses, electronic communication, personal data and Account Credentials when the above are transmitted between the parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
3.9. You shall indemnify, defend, and hold us harmless from any claim, proceeding, loss or damages based upon any use, misuse, or unauthorized use of the Trading Platform through your Account Credentials.
4.1. You acknowledge that all Intellectual Property Rights in the Trading Platform are owned by us or our licensors.
4.2. You will not:
4.3. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill and any Intellectual Property Rights in the Trading Platform, are and shall remain owned solely by us or our licensors. Except for the license granted in paragraph 2.2 of this Client Agreement, no other license, right, or interest in any goodwill or Intellectual Property Right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.
4.4. Unless expressly permitted in this Agreement, you shall not:
5.1. In order to use the Trading Platform and our Services, you must register with us by providing personal details, including identity documents, as Registration Data. After you fill in and submit the Account Opening Application Form together with all the required identification documentation and Registration Data required by us for our own internal checks, we will send you a notice informing you whether you have been accepted as a Client of the Company. It is understood that we are not to be required (and may be unable under Applicable Regulations) to accept a person as our Client until all documentation we require has been received by us, properly and fully completed by such person and all internal Company checks (including without limitation anti-money laundering checks, appropriateness or suitability tests as the case may be) have been duly satisfied. It is further understood that we reserve the right to impose additional due diligence requirements to accept Clients residing in certain countries.
5.2. You agree and undertake to:
5.3. Once logged onto the Trading Platform using your Account Credentials, you authorize us to rely upon any information or instructions set forth in any data transmission using your Registration Data, without making further investigation or inquiry, and regardless of the actual identity of the individual transmitting the same. Without limitation of the foregoing, we have no responsibility for transmissions that are inaccurate or not received by us, and we may execute any Transaction on the terms actually received by us.
6.1. We will not have an obligation to assess your knowledge and experience to determine whether the Service or Financial Instrument is appropriate or not for your level of experience and/or knowledge. It shall be your sole responsibility to make sure that the Service or Financial Instrument is appropriate for you.
7.1. We shall not have an obligation to treat our clients in different classes depending on their knowledge and expertise.
8.1. If you are accepted as our Client, we shall be entitled to provide the following investment and ancillary services, subject to your obligations under the Agreement being fulfilled, including, Execution of Orders in Financial Instruments, the Company acting on an own account basis, as Liquidity Provider.
8.2. It is understood that when trading in CFDs or Binary Options, there is no delivery or safekeeping of the Underlying Asset to which the CFD or the Binary Option is referring to.
9.1. The Company will not advise the Client about the merits of a particular Order or give him any form of investment advice and the Client acknowledges that the Services do not include the provision of investment advice in Financial Instruments or the Underlying Markets or Underlying Assets. The Client alone will decide how to handle his Trading Account and place Orders and take relevant decisions based on his own judgment.
9.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client may wish to seek independent advice before entering into a Transaction.
9.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website, or provide to subscribers via its Website or otherwise) with information, news, market commentary or other information but not as part of its Services to the Client. Where it does so:
9.4. It is understood that market commentary, news, or other information provided or made available by the Company are subject to change and may be withdrawn at any time without notice.
10.1. The Company may collect Client information directly from the Client (in his completed Account Opening Application Form or from his use of the Website otherwise) or from other persons including, for example, the credit reference agencies, fraud prevention agencies, banks, other financial institutions, third authentication service providers and the providers of public registers.
10.2. Client information which the Company holds is to be treated by the Company as confidential and will not be used for any purpose other than in connection with the provision, administration and improvement of the Services, anti-money laundering and due diligence checks, for administration of the Services, for research and statistical purposes and for marketing purposes. Information already in the public domain, or already possessed by the Company without a duty of confidentiality will not be regarded as confidential.
10.3. The Company has the right to disclose Client information (including recordings and documents of a confidential nature, card details) in the following circumstances:
10.5. You recognize that you may receive our trade secrets and/or confidential or proprietary information. All information belonging to or relating to us including, without limitation, information concerning business plans, customers, supplies, services, Intellectual Property Rights and/or financial information received by you as a result of entering into or performing the Client Agreements which is designated as confidential by us or is otherwise clearly confidential in nature constitutes “confidential information”.
10.6. You agree not to use our confidential information for any purpose other than the purpose for which it is supplied to you under the Client Agreements and agree not to divulge confidential information received from us to any third party, and to prevent its disclosure to or access by any third party without our prior written consent except as may be required by law or any legal or regulatory authority.
10.7. You will use a reasonable degree of care to protect our confidential information. This obligation will survive the termination of this Agreement, in respect of a particular item of confidential information, until such earlier time as that item of confidential information reaches the public domain other than through your breach of this term.
10.8. You acknowledge that we shall be entitled to seek specific performance, injunctive relief or any other equitable remedies for any breach or threatened breach of any provision of this paragraph 10, which remedies shall not be deemed to be exclusive remedies for such breach or threatened breach by you, but shall be in addition to all other remedies available to us at law, in equity, or otherwise.
11.1. You are informed that, if you are a natural person, the Company will collect, use, store, process and handle your personal information.
12.1. You accept that the Company may, for the purpose of administering the terms of the Agreement, from time to time, make direct contact with the Client by telephone, fax, email, or post.
12.2. You accept that the Company or any Affiliate of the Company or any other company in the same group of the Company may make contact with you, from time to time, by telephone, fax, email or post for marketing purposes to bring to your attention products or services that may be of interest to you or to conduct market research.
13.1. Telephone conversations between the Client and the Company may be recorded and kept by the Company and recordings will be the sole property of the Company. The Client accepts such recordings as conclusive evidence of the Orders or conversations so recorded.
13.2. Faxed documents received by the Company may be electronically scanned and reproduction of the scanned version shall constitute conclusive evidence of such faxed instructions.
13.3. Our records will be evidence of your dealings with us in connection with the Trading Platform. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request in our absolute discretion. You will not object to the admission of our records as evidence in any legal or regulatory proceedings because such records are not originals, are not in writing or are documents produced by a computer.
13.4. The Company will keep records containing Client personal data, trading information, account opening documents, communications and anything else which relates to the Client for at least five years after termination of the Agreement or a Transaction.
14.1. You hereby consent to have your Trading Account information and trade confirmations available on the internet in lieu of having such information delivered to you via postal mail or email. You will be able to access your Trading Account information via the Trading Platform using your Account Credentials. We will post all of your Trading Account activity and you will be able to generate daily, monthly and yearly reports of Trading Account activity as well as a report of each executed trade. Updated Trading Account information will be available no later than 24 hours after any activity takes place on your Trading Account. Posting of Trading Account information on your terminal will be deemed delivery of confirmation and Trading Account statements. At all times, Trading Account information will include, and is not limited to, trade confirmations with ticket numbers, purchase and sales rates, Margins, amounts available for trading, statements of profit and loss, as well as current open and pending Positions.
15.1. All Orders placed by you shall be executed by the Company itself, i.e. the Company shall be the counterparty in each Transaction against you.
15.2. You acknowledge and agree that each Transaction conducted on the Trading Platform, including the placing of an Order, is comprised of first, an offer by you to us to complete a Transaction (whether such offer is to open a Transaction or close an open Transaction) at a certain price quoted on the Trading Platform, and our subsequent acceptance of your offer. A Transaction will be deemed to have been completed only when your offer has been received and accepted by us. Our acceptance of an offer will be evidenced by our confirmation of its terms to you and its completion.
15.3. We will be under no obligation to, but may in our absolute discretion, provide quotes for, or accept, execute or cancel, all or any part of a Transaction that you have requested through the Trading Platform without giving any reason. You may request to cancel or amend a Transaction at any time prior to our completing such a Transaction. We shall be entitled, but not obliged, to accept such a request in our sole discretion.
15.4. We reserve the right to void from the outset any Transaction containing or based on any Manifest Error. In the absence of our fraud or wilful default, we will not be liable to you for any loss, cost, claim, demand or expense following any Manifest Error.
15.5. You acknowledge that all prices and Quotes shown on the Trading Platform are indicative only of actual trading prices in Normal Market Size and are subject to constant change. The Company provides Quotes by taking into account the Underlying Asset price, but this does not mean that these Quotes are within any specific percentage of the Underlying Asset price. When the relevant Underlying Market is closed, the Quotes provided by the Company will reflect what the Company thinks to be the current Bid and Ask price of the relevant Underlying Asset at that time.
15.6. You shall comply with any restrictions that we notify to you from time to time with respect to your activities on the Trading Platform, including without limitation, the size of Transactions or other conditions that may apply to our quote. You acknowledge that we may offer to and impose on each user, in our sole discretion, different terms and restrictions with respect to their use of the Trading Platform.
15.7. You acknowledge that the Trading Platform is independent of any Underlying Markets and we are under no obligation to quote a particular price or follow the trading rules consistent with such Underlying Markets. You further acknowledge that the triggering of your Transaction is linked to the prices we quote on the Trading Platform, not the prices quoted on the relevant Underlying Markets. In determining whether the prices quoted on the Trading Platform reach or exceed the price accepted by us in a Transaction, we will be entitled (but not obliged), in our absolute discretion, to disregard any prices quoted by us during any pre-market, post-market or intra-day auction periods in the relevant Underlying Markets, during any intra-day or other period of suspension in the relevant Underlying Markets, or during any other period that in our reasonable opinion may give rise to short-term price spikes or other distortions. Our prices may differ from the current prices on the relevant Underlying Markets and you acknowledge that a Transaction may be triggered even though:
15.8. When you complete a Transaction on the Trading Platform, you agree that you are not dealing on a recognised exchange.
15.9. You acknowledge that any prices quoted on the Trading Platform are set by us in our reasonable discretion, taking into account a variety of factors including prevailing market conditions and trading demand on the Trading Platform. You undertake and agree not to use the prices quoted on the Trading Platform for any purpose other than for your own trading purpose, and you agree not to redistribute our prices to any other person whether such redistribution is for commercial or other purposes.
15.10. You acknowledge that each Transaction is made for a specified number of units that constitute the Underlying Asset. You may only complete Transactions on the Trading Platform for the minimum number of units as set forth on the Trading Platform as the “Unit Amount”, and in multiples of such “Unit Amount” up until the maximum amount permitted by the Trading Platform. You acknowledge and agree that we may set, in our sole and absolute discretion, the “Unit Amount” for each Underlying Asset.
15.11. Each Transaction opened by you, and any Transaction completed, will be binding on you notwithstanding that by opening the Transaction you may have exceeded any credit or other limit applicable to you or in respect of your dealings with us.
15.12. Subject to paragraph 15.15 herein you may request a quote to open or close a Transaction for a particular Underlying Asset, at any time during the Trading Hours for such Underlying Asset. We will be under no obligation to but may, in our absolute discretion, provide a quote and accept and act on your offer to open or close a Transaction for an Underlying Asset outside of the Trading Hours of such Underlying Asset. In some cases, Transactions may only be traded during the time when the relevant Underlying Market is open. Trading Hours are displayed on the Trading Platform under the details link for each specific Underlying Asset. It is your responsibility to ensure you are aware of which Underlying Asset may be affected.
15.13. Without prejudice to any of our right hereunder, if, prior to the acceptance of your Order to open or close a Transaction, we become aware that any of the factors set out in paragraph 15.14 herein have not been met, we reserve the right to reject your Order outright. If we have, nevertheless, already opened or closed a Transaction prior to becoming aware that a factor set out in paragraph 15.14 hereinhas not been met, we may, e in our discretion, either treat such a Transaction as void from the outset or close it at our then prevailing price. However, we may, in our absolute discretion, allow you to open or, as the case may be, close the Transaction in which case you will be bound by the opening or closure of such Transaction, notwithstanding that the factors in paragraph 15.14 were not satisfied.
15.14. The factors referred to in paragraph 15.13 include the following:
15.15. If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you buy or the price goes up as you sell) you agree that we can (but do not have to) pass such price improvement on to you. The effect of such action being that the level at which you offer to open or close a Transaction will, upon acceptance by us, be altered to the more favorable price. You acknowledge that it is in your best interests for us to alter the level of your offer in the manner contemplated in this paragraph and you agree that any offer altered in accordance with this paragraph, once accepted by us, results in a fully binding agreement between us. Without derogating from the foregoing, you acknowledge that it is within our complete discretion as to when we will pass on a price improvement to you. You should also note that we will only pass on a price improvement within allowable limits.
15.16. Use of any robots, spiders or other automated data entry system with the Trading Platform is expressly prohibited, unless you receive express written consent by the Company prior to activating the robot. All Transactions must be completed manually by you. Any Transaction completed through such use of an automatic data entry system shall be null and void.
15.17. The Company is under no obligation, unless otherwise agreed in the Agreement, to monitor or advise the Client on the status of any Transaction or to close out any Client’s Open Positions. When the Company decides to do so, this will be done on a discretionary basis and will not be considered an undertaking of an obligation to continue. It is the Client’s responsibility to be aware of his positions at all times.
15.18. Benefits – Dividends. An adjustment to your Trading Account may be made in respect of a dividend or distribution attributable to any specific Underlying Asset and shall be calculated by us. Where you hold a Long Position, we adjust your Trading Account in your favor by the dividend multiplied by the long quantity as adjusted, if necessary, for taxation. Where you hold a short position, we adjust your Trading Account in our favor by the dividend multiplied by the sort quantity as adjusted, if necessary, for taxation.
15.19. Benefits – Takeovers and Transformations (including events such as share consolidations/splits, mergers, takeovers, spinoffs, MBO’s, de-listings, etc.). Depending on the circumstances of each event, our policy is to close out any customer open positions at the market price immediately prior to the event taking place. As a result of such event, if any Underlying Asset becomes subject to an adjustment as the result of a takeover or transformation action we shall determine the appropriate adjustment to be made to the contract price or contract quantity as we consider appropriate to account for the diluting or concentrating effect of the action. Such adjustment shall represent the economic equivalent of the rights and obligations of us and you immediately prior to the action.
15.20. Insolvency. If a company, whose Underlying Asset forms the CFD or Binary Option goes into insolvency or is otherwise dissolved, we shall close any such of your open Transactions in CFD or Binary Option of that Underlying Asset. The closing date shall be the date of insolvency.
15.21. The Company will use reasonable efforts to execute an Order, but it is agreed and understood that despite the Company’s reasonable efforts transmission or execution may not always be achieved at all for reasons beyond the control of the Company.
16.1. If the prices quoted on the Trading Platform change such that the total difference payable by you pursuant to all of your open Transaction equals or exceeds the total Maintenance Margin for all such Transactions, or the amount in your Trading Account is equal to or less than the total Maintenance Margin for all of your open Transaction(s), or if we receive a charge-back from your credit card issuer or with respect to any other payment method for any reason, you acknowledge that we have the right, in our sole discretion, to immediately close any and all of your Open Positions whether at a loss or a profit any prior notice. The exercise of our right to force close your Open Positions will not result in termination of your Trading Account or of this Agreement, unless we send you a notice of termination.
16.2. Notwithstanding the foregoing, if the prices quoted on the Trading Platform move against the price of your Transaction, we may, without obligation or liability, request that you increase the amount in your Trading Account, within a short period of time, to cover the Difference and/or meet the Maintenance Margin requirements for the purpose of keeping a Transaction open. If you fail to comply with a request for additional funds within the time prescribed by us, we may in our sole discretion, close any and all of your open Transaction whether at a loss or a profit and liquidate your Trading Account for the Difference payable by you. It is your responsibility to monitor, at all times, the amount deposited in your Trading Account against the amount of any margin required as a result of your trading decisions.
16.3. We may specify on the Trading Platform expiration times and dates for various Underlying Assets traded on the Trading Platform. If the Trading Platform specifies such a time of expiration for an Underlying Asset, you hereby authorize us to close any open Transactions with respect to such an Underlying Asset at the price quoted on the Trading Platform at such time.
16.4. You acknowledge that the trading of certain Underlying Assets on the Trading Platform may become volatile very quickly and without warning. Due to the high degree of risk involved in trading volatile Underlying Assets, you acknowledge and agree that we reserve the right to close all or any open Transactions with respect to any Underlying Asset that we determine, in our sole discretion, are volatile, at the price quoted on the Trading Platform at such time without notice.
17.1. We may, in our reasonable opinion, determine that a Force Majeure Event exists. A Force Majeure Event will include, but is not limited to, the following:
17.2. If we determine that a Force Majeure Event exists, we may, in our absolute discretion, without notice and at any time, take one or more of the following steps:
17.3. You agree that we will not be liable in any way to you or to any other person in the event of a Force Majeure Event, nor for our actions pursuant to paragraph 17.2, if we decide to take such action. The Parties shall be released of all responsibilities for partial or full non-fulfillment, as well as for improper fulfillment of the obligations under this Agreement, if such non-fulfillment or improper fulfillment was a result of a Force Majeure Event, which occurred after the Client Agreements were concluded.
18.1. In order to open a Transaction for an Underlying Asset, you undertake to provide the Initial Margin in your Trading Account. In order to keep a Transaction open, you undertake to ensure that the amount in your Trading Account exceeds the Maintenance Margin. You acknowledge that the Margin for each Underlying Asset differs and may be changed by us in our sole discretion from time to time. Deposits into your Trading Account can be made by wire transfer or another method of payment, to a bank account, or other location, as we may notify to you from time to time. Based on the amount of money you have in your Trading Account, we retain the right to limit the amount and total number of open Transactions that you may wish to open or currently maintain on the Trading Platform. It is understood that each different type of Trading Account offered by us from time to time may have different Margin Requirements.
18.2. It is your responsibility to ensure that he understands how Margin Requirements are calculated.
18.3. Unless a Force Majeure Event has occurred, the Company has the right to change the Margin requirements, giving to the Client three (3) Business Days Written Notice prior to these amendments. New Margin Requirements shall be applied for new positions. The Company has the right to change Margin requirements without prior notice to the Client in the case of Force Majeure Event. In this situation the Company has the right to apply new Margin requirements to the new positions and to the positions which are already open. All changes shall be effected on the Platform and/or the Website and the Client is responsible to check for updates. It is the Client’s responsibility to monitor at all times the amount deposited in his Trading Account against the amount of any Margin required under this Agreement and any additional margin that may become necessary.
18.4. You are aware and acknowledge that we may, in our sole discretion, require you to take certain action in your Trading Account pursuant to a Margin Call. A Margin Call may be based upon a number of factors, including without limitation, your overall position with us, your account size, the number of open Transactions you have, volume traded, your trade history and market conditions.
18.5. The Company shall not have an obligation to make any Margin Call to the Client but in the event that it does, or in the event that the Trading Platform warns the Client that it reached a certain percentage of the Margin in the Trading Account, the Client should take any or any of the three options to deal with the situation:
18.6. Failure to meet the Margin Requirement at any time or failure to make a Margin Payment when due may result in force closure (of paragraph 16) of your open positions without further notice to you.
18.7. Margin shall be paid in monetary funds in the Currency of the Client Account.
18.8. The Client undertakes neither to create nor to have outstanding any security interest whatsoever over, nor to agree to assign or transfer, any of the Margin transferred to the Company.
18.9. If you have more than one Trading Account with us, each Trading Account will be treated entirely separately. Therefore, any credit on one Trading Account (including amounts deposited as margin) will not discharge your liabilities in respect of any other Trading Account. It is your responsibility to ensure the required level of margin is in place for each Trading Account separately.
19.1. Upon completing a Transaction:
(i) a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction.
(i) a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.
19.2. Unless we agree otherwise, all sums for which either Party is liable under paragraph 19.1 above are immediacy payable upon closing of the Transaction. You hereby authorise us to debit or credit your Trading Account with the relevant sums at the closing of each Transaction. It is understood that once you place an Order, until such Order is executed and the Transaction is closed, the Maintenance Margin shall not be used as collateral and hence shall be unavailable for withdrawal.
19.3. You shall be liable for any and all taxes, fees and assessments with respect to any Transaction you complete on the Trading Platform. It is your obligation alone to calculate and pay all taxes applicable to you in your country of residence, or otherwise arising as a result of your trading activity from the use of the Trading Platform.
19.4. Notwithstanding the above, if required by applicable law, the Company shall deduct at source from any payments due to you such amounts as are required by the tax authorities to be deducted in accordance with applicable law.
19.5. It is possible that other costs, including taxes, relating to transactions carried out on the Trading Platform may arise for which you are liable and which are neither paid via us nor imposed by us. Without derogating from your sole and entire responsibility to account for tax due, you agree that we may deduct tax, as may be required by the applicable law, with respect to your trading activity on the Trading Platform. You are aware that we have a right of set-off against any amounts in your Trading Account with respect to such tax deductions, and you hereby authorize us to withdraw amounts from your Trading Account with which to pay such taxes. You shall have no claim against us with regard to such deductions. You further agree that such deductions do not derogate from our rights to make Margin Calls under this Agreement.
19.6. You undertake to pay all stamp expenses relating to this Agreement and any documentation which may be required for the currying out of the Transactions under this Agreement.
19.7. Should your country of residence operate regulations or laws which restrict the use of currency or require you to report receipts and payments of that currency to a regulator or legal authority, you agree that you will fulfil any reporting obligations or obtain any required consents or approvals which may arise as a result of your use of the Trading Platform or associated transactions.
19.8. Prior to opening an account with the Company, the Client needs to consider any applicable charges such as spread(s), mark-up(s), commission(s), and swap(s). The Client is solely responsible for requiring clarifications from the Company in relation to the above, if necessary. The Client may review all applicable charges, prior to entering into an agreement with the Company as well as at all times, on our Website(s).
19.9. The Client should note that not all charges are represented in monetary terms and may appear, for instance, in pips; therefore, the Client needs to ensure that he/she understands the cost that the pip amounts to.
19.10. The Company reserves the right to charge monthly maintenance fee per Trading Account assuming that the Trading Account has sufficient funds to cover such fee. This maintenance fee depends on the Client categorization and/or type of Trading Account and/or volume of Orders and/or amount of deposits. The applicable maintenance fees may be found on the Company’s Website.
19.11. The Company reserves the right to change, from time to time, any of the charges applicable to Clients without prior Written Notice to the latter, unless otherwise agreed in the Agreement. The most up-to-date information shall be found on our Website.
19.12. The Client should note that any applicable charges shall be instantly deducted from his/her Trading Account(s).
20.1. The Trading Account shall be activated upon the Client depositing the Initial Margin, according to the type of Client Account, as determined by the Company in its discretion from time to time.
20.2. The Client may deposit funds into the Trading Account at any time during the course of this Agreement. Deposits will be made via wire transfer or any other the methods accepted by the Company from time to time. The Company will not accept third party or anonymous payments in the Client Account. Deposits for Margin and any other deposits due will, unless otherwise agreed or specified by us, be required in the Currency of the Trading Account, based on your country of origin as specified in your address and as shall be specified on the Trading Platform. We shall not, and you shall not request us to, convert any monies standing to your credit or which have been paid by you into your Trading Account in one currency to another currency. The detailed information about deposit options is shown on the Website.
20.3. 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. The Company shall have the right to reject a deposit of the Client if the Company is not duly satisfied as to the legality of the source of funds.
20.4. If the Client makes a deposit, the Company shall credit the relevant Trading Account of the Client with the deposited amount net of any transfer fees or other charges incurred by the Company . The applicable fees, if any, may be found on the Company’s Website.
20.5. If the funds sent by the Client are not deposited in the Trading Account when they were supposed to, the Client shall notify the Company and request from the Company to make a banking investigation of the transfer. The Client agrees that any charges of the investigation may be deducted from his Trading Account or paid directly to the bank performing the investigation. The Client understands and aggress that in order to perform the investigation the Client shall have to provide the Company with the requested documents and certificates.
20.6. The Company shall effect withdrawals of Client funds upon the Company receiving a relevant request from the Client in the method accepted by the Company from time to time.
20.7. Upon the Company receiving an instruction from the Client to withdraw funds from the Client Account, the Company shall pay the said amount without undue delay, if the following requirements are met:
20.8. It is agreed and understood that withdrawals will only be effected towards the Client. The Company will not to make withdrawals to any other third party or anonymous account.
20.9. The manner in which we remit monies to you will be in our absolute discretion. The Company reserves the right to decline a withdrawal request of the Client asking for a specific transfer method and the Company has the right to suggest an alternative.
20.10. All payment and transfer charges of third parties will be borne by the Client and the Company shall debit the relevant Trading Account for these charges.
20.11. Withdrawal fees may apply from time to time depending on the Client or type of Trading Account. The applicable fees may be found on the Company’s Website.
20.12. Mistakes made by the Company during transfer of funds shall be refunded to the Client. It is understood that should the Client provide wrong instructions for a transfer, the Company may be unable to correct the mistake and the Client may have to bear the loss.
20.13. We reserve the right to seek reimbursement from you, if we receive a charge-back from any credit card issuer or with respect to any other payment method, for any reason. We may obtain such reimbursement by charging your Trading Account, deducting amounts from future payments owed to you, charging your credit card or obtaining reimbursement from you by any other lawful means. All bank charges howsoever arising will be deducted from your Trading Account.
21.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions such as a credit institution or a bank. Additionally, the Company may, at its own discretion, place Client money into one or more qualifying money market fund. The units in such qualifying money market fund(s) shall be held in accordance with the requirements for holding financial instruments belonging to Clients. The Client may oppose to the placement of his/her funds in a qualifying money market fund via written request to the Company.
21.2. Although the Company shall exercise due skill, care and diligence in the selection of the institutions, it is understood that there are circumstances beyond the control of the Company and hence the Company does not accept any liability or responsibility for any resulting losses to the Client as a result of the insolvency or any other analogous proceedings or failure of the institution where Client money will be held.
21.3. The institution (of paragraph 21.1) where Client money will be held may be within or outside the EEA. It is understood that the legal and regulatory regime applying to any such institution outside the EEA will be different from that of the EEA. Hence, in the event of the insolvency or any other equivalent failure or preceding of that person, the Client’s money may be treated differently from the treatment which would apply if the money was held in a Segregated Account in an EEA country.
21.4. The institution to which the Company will pass Client money (as per paragraph 21.1) may hold it in an omnibus account. Hence, in the event of the insolvency or any other analogous proceedings in relation to that institution, the Company may only have an unsecured claim against the institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the institution is insufficient to satisfy the claims of the Client.
21.5. It is understood that the Company may hold Client money and the money of other clients in the same account (omnibus account).
21.6. The Company shall not account to the Client for profits or interest earned on Client money (other than profit gained through trading Transactions from his Trading Account(s) under this Agreement) and the Client waives all right to interest.
21.7. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
21.8. The Company is not a member of the Investors Compensation Fund (ICF).
22.1. The Company shall have a general lien on all funds held by the Company on the Client’s behalf until the satisfaction of the Client’s obligations.
23.1. If the aggregate amount payable by the Client is equal to the aggregate amount payable by the Company, then automatically the mutual obligations to make payment are set-off and cancel each other.
23.2. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied and discharged.
23.3. The Company has the right to combine all or any Client Accounts opened in the Client name and to consolidate the Balances in such accounts and to set-off such Balances in the event of termination of the Agreement.
24.1. If the Trading Account is inactive for three months or more, the Company reserves the right to charge a monthly account maintenance fee. The exact fee schedule will be calculated according to the currency denomination of the Trading Account and is set out as follows: 85 EUR, 85 USD, 85 GBP, 10,400 JPY, 250 TRY, 90 CHF, 550 CNY, or 5,750 RUB or as changed by the Company and notified to the Client.
24.2. If the Trading Account is inactive for four (4) years or more, and after notifying the Client in its last known contact details, the Company reserves the right to close the Trading Account and render it dormant. Money in the dormant account shall remain owing to the Client and the Company shall make and retain records and return such funds upon request by the Client at any time thereafter.
24.3. In the event of inactivity or dormancy, the company reserves the right to cancel any unused (“active”) bonuses. The conditions set forth in Bonus Terms and Conditions policy will apply.
25.1. The Company may upgrade the Client Account, convert Trading Account type, upgrade or replace the Platform or enhance the services offered to the Client if it reasonably considers this is to the Clients advantage and there is no increased cost to the Client.
25.2. The Company may unilaterally change any terms of the Agreement by providing advance notice of at least five (5) Business Days. However, the Client acknowledges that a change which is made to reflect a change of Applicable Regulations may, if necessary, take effect immediately.
25.3. When the Company provides Written Notice of changes under paragraph 25.2 it shall tell the Client the date it comes into effect. The Client shall be treated as accepting the change on that date unless, before then, the Client informs the Company that the Client wishes to terminate the Agreement and not accept the change. The Client shall not have to pay any charges as a result of terminating in this case, other than costs due and payable for Services offered until the termination.
25.4. The Company shall have the right to review its costs, fees, charges, commissions, financing fees, swaps, trading conditions, execution rules, roll over policy and trading times, found on the Company’s website and/or Platform, from time to time. Such changes shall be displayed on the Website and/or the Platform while the Client is responsible to check for updates regularly. In the absence of a Force Majeure event and unless otherwise agreed in the Agreement, the Company shall be providing the Client with advance notice on its Website of at least five (5) Business Days. The Client shall be treated as accepting the change on that date unless, before then, the Client informs the Company that the Client wishes to terminate the Agreement and not accept the change. The Client shall not have to pay any charges as a result of terminating in this case, other than costs due and payable for Services offered until the termination. Therefore, the Client acknowledges and understands that he is obliged to familiarize himself with Fees Schedule available on the Website prior to instructing the Company to make any Transactions.
26.1. The Agreement shall take effect and commence upon the receipt by the Client of a notice sent by the Company informing the Client that he has been accepted as the Company’s Client or that a Trading Account has been opened for him.
26.2. Without prejudice to the Company’s rights under this Agreement to terminate it immediately without prior notice to the Client, the Company may terminate this Agreement with immediate effect by giving at least seven Business Days Written Notice to the Client. The Client shall have the right to terminate this Agreement with immediate effect by giving at least seven Business Days Written Notice to the Company.
26.3. Termination by any Party will not affect any obligation which has already been incurred by either Party or any legal rights or obligations which may already have arisen under the Agreement or any Transactions made hereunder.
26.4. Upon termination of this Agreement, all amounts payable by the Client to the Company will become immediately due and payable including (but without limitation) all outstanding costs and any other amounts payable to the Company, any charges and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement.
26.5. Once notice of termination of this Agreement is sent and before the termination date:
26.6. Upon Termination any or all the following may apply:
27.1. Each of the following constitutes an “Event of Default”:
27.2. If an Event of Default occurs the Company may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
28.1. You agree that each of the following representations and warranties are deemed repeated each time you open or close a Transaction by reference to the circumstances prevailing at such time:
28.2. Any breach by you of any of the representations and warranties set forth in paragraph 27.2 or anywhere else in the Client Agreements renders any Transaction voidable from the outset or capable of being closed by us at our then prevailing prices, in our absolute discretion.
29.1. You agree to indemnify, and hold us, our affiliates, employees, agents and successors harmless, from and against any and all liabilities, losses, damages, costs and expenses, including attorney fees, we incur arising out of your failure to fully and timely perform your obligations under the Client Agreement or any Third Party Licenses, or as a result of your breach of any warranty, representation or covenant made by you under the Client Agreement or any Third Party Licenses. Without derogating from the generality of the foregoing, you agree to be fully and personally liable for the due settlement of every Transaction entered into using your Account Credentials on the Trading Platform, including any and all taxes, fees and assessments that may be payable with respect to a Transaction to any governmental entity. You agree to indemnify us fully in respect of all liabilities, costs and losses whatsoever as we may incur as a result, direct or indirect, of your failure to perform or settle a Transaction, including with respect to Financial Institutions which we contract with to execute Transactions on your behalf.
29.2. You also agree to promptly pay us all damages, costs and expenses, including legal fees, we have incurred in the enforcement of any of the provisions of the Client Agreement. Further, we shall not be held liable and are released from all claims and losses arising out of:
provided that we promptly notify you in writing of any such claim and allow you to participate, at your own expense, in the defense of any such claim. You shall not enter into any settlement or compromise of any such claim without our prior written consent.
30.1. We, specifically, do not warrant that:
30.2. You acknowledge that we do not control the transfer of data over telecommunications facilities, including without limitation the internet, nor are we responsible for communication failures, distortions or delays when trading online (via the internet or a mobile service).
30.3. You acknowledge that the trading you conduct on the Trading Platform is not conducted on an recognised Exchange, rather they are undertaken over the counter (OTC) and as such they may expose the Client to greater risks than regulated exchange transactions.
30.4. We hereby further disclaim any, and shall have no, liability or loss resulting from or related to any:
30.5. With respect to any Financial Data or other information that we or any third party service provider provide to you in connection with your use of the Trading Platform:
31.1. We shall not be liable to you for any loss, save in cases of gross negligence, fraud or wilful default on our behalf.
31.2. Without prejudice to paragraph 31.1, our aggregate liability to you in respect of all claims arising out of or in connection with the Client Agreement will be limited to the aggregate amount of the deposits less withdrawals on your Trading Account.
31.3. Subject to paragraphs 31.2 and of this Client Agreement, you will be liable to us for:
31.4. Nothing in the Client Agreements will exclude, limit or restrict either Party’s liability for death or personal injury resulting from the negligence of that Party (or anyone on its behalf) or any other matter in respect of which liability cannot by applicable law be limited.
31.5. Nothing in this paragraph 31 will exclude, limit or restrict either Party’s liability for fraud or fraudulent misrepresentation committed by that Party (or anyone on its behalf).
31.6. Our liability, to the extent applicable, for infringement of third party intellectual property rights shall be limited to breaches of rights subsisting in Belize.
31.7. The Client Agreements set out the full extent of our obligations and liabilities in respect of the supply of the Trading Platform. In particular, there are no conditions, warranties, representations or other terms, express or implied, that are binding on us except as specifically stated in the Client Agreements. Any condition, warranty, representation or other term concerning the supply of the Trading Platform which might otherwise be implied into, or incorporated in, the Client Agreements, or any collateral contract, whether by statute, common law or otherwise, is hereby excluded to the fullest extent permitted by law.
32.1. You hereby authorize us to act on any instruction given or appearing to be given by you on the Trading Platform.
32.2. We shall be entitled, and you hereby authorize us, to rely upon any oral, electronic or written communication or instruction received from you. You agree that:
32.3. Without derogating from the above, we will not be under any duty to act in accordance with any instruction if we reasonably believe that:
Nothing in this paragraph shall be construed as an obligation on our part to inquire about the authority of any person who purports to represent you.
32.4. Any offer to open or close a Transaction (including an Order) must be made by you through the Trading Platform only. Written offers to open or close a Transaction, including offers sent by fax, email or text message will not be accepted.
32.5. If we receive an offer to open or close a Transaction other than in accordance with paragraph 32.4, we may act on such an offer, in our absolute discretion, however we will not be responsible for any loss, damage or cost that you suffer or incur arising out of any error, delay or omission in our acting or refusing to act on such an offer.
33.1. You will open each Transaction with us as principal and not as agent for any person. This means that unless we have otherwise agreed in writing, we will treat you as our Client for all purposes and you will be directly and personally responsible for performing your obligations under each Transaction entered into by you. If you act in connection with or on behalf of someone else, whether or not you identify that person to us or not, we will not accept that person as a Client of ours and we will accept no obligation to them unless otherwise specifically agreed in writing.
34.1. Unless the contrary is specifically provided in this Agreement, any notice, request or other communication (other than Orders which shall be given only in accordance to paragraph 34.2 hereunder) to be given to the Company by the Client under the Agreement shall be sent to the Company’s address below (or to any other address which the Company may from time to time specify to the Client for this purpose) by email, facsimile, post if posted in Belize, or airmail if posted outside Belize, or commercial courier service and shall be deemed delivered only when actually received by the Company at the contact details appearing in the first page.
34.2. It is agreed and understood that Orders shall be placed on the Trading Platform and shall not be communicated to the Company in any other means. Only when the Platform is not operational, Orders may be placed via phone.
34.3. In order to communicate with the Client, the Company may use any of the following methods: email, Platform’s internal mail, facsimile transmission, telephone, post, commercial courier service, air mail or the Company’s Website.
34.4. The Company shall contact the Client at the contact details on his Registration Data. Hence, the Client has an obligation to notify the Company immediately of any change in the Client’s contact details.
34.5. The following methods of communication are considered as Written Notice from the Company to the Client: email, Platform’s internal mail, facsimile transmission, post, commercial courier service, air mail or the Company’s Website. The following methods of communication are considered as Written Notice from the Client to the Company: email, facsimile transmission, post, commercial courier service or air mail or commercial courier.
34.6. Any communications sent to the Client (documents, notices, confirmations, statements, reports etc.) are deemed received:
(a) If sent by email, within one hour after emailing it and provided the email has left from the Company’s outlook.
(b) If sent by the Platform’s internal mail, immediately after sending it.
(c) If sent by facsimile transmission, upon receipt by the sender of a transmission report from its facsimile machine confirming receipt of the message by recipient’s facsimile machine.
(d) If sent by telephone, once the telephone conversation has been finished.
(e) If sent by post, seven (7) calendar days after posting it.
(f) If sent via commercial courier service, at the date of signing of the document on receipt of such notice.
(g) If sent by air mail, eight (8) Business Days after the date of their dispatch.
(h) If posted on the Company Webpage, within one hour after it has been posted.
34.7. The Language in which the Client may communicate with the Company is English, which is the Company’s official language. From time to time, the Company may employee staff who speak the Client’s native language, in which case the Client may find it more convenient to communicate with the Company in that language. However, it is clarified that all documents and information provided by the Company shall be in English. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein and the Client should also refer to the English version and the Website for information on the Company and its policies.
35.1. The Client Agreement set out the entire agreement and understanding between the parties in respect of the matters dealt with in them. They supersede any previous agreement or understanding between you and us in respect of their subject matter.
35.2. You represent and agree that in entering into the Client Agreement you do not rely on, and will have no remedy in respect of, any statement, representation, warranty or understanding (whether negligently or innocently made) of any person (whether party to the Client Agreements or not) other than as expressly set out in the Client Agreement.
36.1. Should any part of this Agreement be held by any Court of competent jurisdiction to be unenforceable or illegal or contravene any rule, regulation or by law of any Market or regulator, that part will be deemed to have been excluded from this Agreement from the beginning, and this Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
37.1. Any failure to exercise or any delay in exercising a right or remedy provided by the Client Agreement will not constitute a waiver of the right or remedy or a waiver of any other rights or remedies. A waiver of a breach of any of the terms of the Client Agreement will not constitute a waiver of any other breach and will not affect the other terms of the Client Agreement.
37.2. The rights and remedies provided by the Client Agreement are cumulative and (except as otherwise provided in the Client Agreements) are not exclusive of any rights or remedies provided at law or in equity.
38.1. You may not assign or transfer any of your rights or delegate any of your obligations under the Client Agreements, whether by operation of law or otherwise, either on a permanent or temporary basis to a third party without our prior written consent.
38.2. You acknowledge and agree that we may assign our rights or obligations under the Client Agreements or the entire Agreement to a successor of all or substantially all of our business or assets without prior written consent but subject to providing previous five (5) Business Days Written Notice to you. The Company may sell, transfer or otherwise share some or all of your assets, including among others your Registration Data, personal information and Log Data, in connection with a merger, acquisition, reorganization or sale of all or substantially all of our shares or assets, or in the event of our bankruptcy and may also transfer your Client money under the same circumstances.
38.3. Without derogating from the above, you acknowledge and agree that we may assign our rights or obligations under the Client Agreements or the entire Agreement, at our sole discretion, to any other licensed member company of our group, without prior written consent but subject to providing at least five (5) Business Days prior Written Notice to you. The Company may sell, transfer or otherwise share some or all of your assets, including among others your Registration Data, personal information and Log Data, in connection with such assignment/transfer and may also transfer your client money under the same circumstances.
39.1. In cases where the Client is introduced to the Company through a third person such as a business introducer or associate network who performs marketing for the Company (both called “Introducer”), the Client acknowledges that the Company is not responsible or accountable for the conduct and/or representations of the Introducer and the Company is not bound by any separate agreements entered into between the Client and the Introducer. It is also made clear that the Introducers are not authorised to bind the Company in any way, to offer credit in the Company’s name, to offer guarantees against losses, to offer investment services or legal, investment or tax advice in the Company’s name.
39.2. The Client acknowledges and confirms that the Company may pay the Introducer with a fee. If such fees apply they will be disclosed to the Client according to Applicable Regulations.
40.1. If the Client wishes to report a complaint, he should follow the Company’s procedures, which can be found at www.24option.com/international.
40.2. If a situation arises which is not expressly covered by this Agreement, the Parties agree to try to resolve the matter on the basis of good faith and fairness and by taking such action as is consistent with market practice.
40.3. The Client’s right to take legal action remains unaffected by the existence or use of any complaints procedures referred to above.
41.1. The interpretation, construction, effect and enforceability of the Client Agreements shall be governed by the Laws of Belize, and you and we agree to submit to the exclusive jurisdiction of the Belize courts for the determination of disputes. You agree all Transactions carried out on the Trading Platform are governed by Belize Laws regardless of the location of the Registered User.
41.2. The Company shall be entitled to take or omit to take any measures which it considers necessary to ensure compliance with the Applicable Regulations, the relevant market rules. Any such measures as may be taken shall be binding on the Client.
42.2. Where the Client comprises two or more persons, the liabilities and obligations under the Agreement shall be joint and several. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client.
42.3. In the event of the death or mental incapacity of one of the persons who form the Client, all funds held by the Company or its Nominee, will be for the benefit and at the order of the survivor(s) and all obligations and liabilities owed to the Company will be owed by such survivor(s).
43.1. It is understood that the Company transmits Client Orders for execution to another entity (the Liquidity Provider) and does not execute them itself on an own account basis. The Client is hereby informed that the Company receives monthly commissions from the Liquidity Provider calculated as a percentage of the volume of Orders sent for execution every month. For more details on these commissions, you may contact the Company and the Company hereby undertakes to provide the relevant clarifications.
43.2. The Client is hereby informed that the Liquidity Provider is member of the same group with the Company and conflicts of interest may arise from this arrangement.
43.3. In promoting and marketing our services, we may engage affiliates. The activities of such affiliates are solely to introduce you as potential client to us. They are not permitted to offer any form of investment advice, legal advice, inducement, recommendation or portfolio management to you or to handle any of your funds or cash. The Client is hereby informed that the Company pays the affiliates mentioned above on fixed commissions per referral and/or variable commissions calculated as a percentage of deposits and/or volume of Orders of referred clients. For more details on these commissions, you may contact the Company and the Company hereby undertakes to provide the relevant clarifications.
Appendix 1 – FX and CFD TRADING TERMS
Appendix 2 – BINARY OPTIONS TRADING TERMS
Trading in Binary Options, Forex/CFD carry a high level of risk to your capital due to the volatility of the underlying market. These products may not be suitable for all investors. Therefore, you should ensure that you understand the risks and seek advice from an independent and suitably licensed financial advisor.
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