This client agreement, together with any Schedule(s) and accompanying documents, as amended from time to time (hereafter the "Agreement") sets out the terms of the contract between you and us. By accepting this agreement, it is assured that you understand and agree with the terms of this agreement.
Note:The English version of this agreement is the governing version and shall prevail whenever there is any discrepancy between the English version and the other versions.
Nextrade Worldwide Ltd (hereafter the "Company"), is a Cyprus Investment Firm that provides investment and ancillary services, as these are defined throughout this Agreement, through its electronic system over the Internet (hereafter the "Trading Platforms").
Nextrade Worldwide Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission ("CySEC"), under authorisation number CIF 229/14. The registered office of the Company is situated at 30A Agias Zonis, Fantaros Court, Office 302. 3027 Limassol, Cyprus. The Company will provide investment services strictly under the terms and conditions defined throughout the Agreement.
The relationship between the Customer and the Company shall be governed by this Agreement. As this Agreement is a distance contract, it is amongst others, governed by the Distance Marketing of Consumer Financial Services Law N24(I)/2004, implementing the EU Directive 2002/65/EC, under which signing the Agreement is not required and the Agreement has the same rights and liabilities as a duly signed contract. In the case where you, the Customer, wish to have a signed Agreement, the Customer should print and send 2 (two) copies to the Company, where the Company will sign and stamp the Agreements and send a copy back to the Customer.
We reserve the right to amend, modify, update and change any of the terms and conditions of this Agreement, from time to time, and we will notify you of any such amendment, modification or change by publishing the new version of this Agreement on the relevant page of our Internet sites. Any modified version of this Agreement will take effect 5 days after its publication on the Internet Site and your continued use of the Services or the will be deemed to constitute your acceptance of the changes to this Agreement. It remains your responsibility to ensure that you are aware of the correct, current terms and conditions of this Agreement and we advise you to check for updates on a regular basis.
The Agreement overrides any other agreements, arrangements, express or implied statements made by the Company or any Introducer(s).
You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone). The language of communication shall be English and you will receive documents and other information from us in English. However, where appropriate and for your convenience, we will endeavor to communicate with you in other languages. By accepting and agreeing to the Terms and Conditions of this Agreement, you accept the following terms and conditions.
The Company is free to use any idea, concept, know-how or technique or information contained in your communications for any purpose including, but not limited to, developing and marketing products. The Company monitors your communications to evaluate the quality of service you receive, your compliance with this Agreement, the security of the website, or for other reasons. You agree that such monitoring activities will not entitle you to any cause of action or other right with respect to the manner in which the Company monitors your communications.
Services are available and reserved only for individuals who can form a legally binding contract under the laws applicable in their country of residence. Without limiting the below mentioned terms, our Services are not available to people aged under the age of 18 or who have not attained the legal age ("Minors"). To avoid any doubt, we disclaim any liability for unauthorized use by Minors of our Services in any manner or another.
Without limiting the above-mentioned provisions, our Services are not available in areas where their use is illegal and the Company reserves the right to refuse and/or cancel access to its Services to anyone at its sole convenience.
For avoidance of doubt, the ability to access our website does not necessarily mean that our services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residency.
Our services are not currently available to residents and/or citizens of the following countries: Afghanistan, Algeria, Iran, Israel Myanmar, North Korea, Sudan, Syria and USA. Other countries may also be subject to restrictions which is at the sole discretion of the Company.
"Account" means the personal trading account the Client maintains with the Company and designated with a particular account number.
"Access Codes" means the username and password given by the Company to the Client for accessing the Company’s website.
"Agreement" means these Terms and Conditions for the Services offered by the Company and the following documents found on the Company’s Website: the Client Categorisation Policy, Investor Compensation Fund, Risks Disclosure, Order Execution Policy, Conflicts of Interest Policy, as amended from time to time and any subsequent Appendices added thereto..
"Applicable Regulations" means CySEC Legislation, Directives, Circulars or other Regulations issued by CySEC and govern the operations of Cyprus Investment Firms and all applicable laws and rules in force from time to time.
"Balance" means the sum held on behalf of the Client on its Client Account within any period of time.
"Business Day" means a day which is not a Saturday or a Sunday or a public holiday in Cyprus or any other holiday to be announced by the Company on its website.
"CIF Authorisation" means the license the Company has obtained from CySEC, as this may be amended from time to time and which sets out the investment and ancillary services the Company is authorized to provide.
"Company’s website" means the following website is www.stockpair.com.
"CySEC" means the Cyprus Securities and Exchange Commission.
"Execution" means the execution of clients’ orders on the Company’s trading platform, where the Company acts as an Agent to Clients’ transactions.
"Financial Markets" means international financial markets in which financial instruments exchange rates are determined in multi-party trade.
"Financial Instruments" means any of the financial instruments offered by the Company and which are defined as such under applicable Law or Regulation. According to the Company’s license these are:
"Operating (Trading) Time of the Company" means period of time within a business week, where the trading platform of the Company provides the opportunity of trading operations. The Company reserves the right to alter this period of time as fit, upon notification to the Client.
"Order" means the request / instruction given by the Client to the Company to Open or Close a Position in the Client’s Account
"Services" means the investment and ancillary services which will be provided by the Company to the clients and are governed by this Agreement as these are described in this Agreement.
"Transaction" means any type of transaction subject to this Agreement affected in the Client’s trading account(s) including but not limited to Deposit, Withdrawal, Open Trades, Closed Trades and any other transaction of any financial instrument.
In this Agreement, all the words that denote only the singular number will also comprise the plural, wherever the aforementioned definitions apply and vice versa, and the words that denote natural persons will comprise legal persons and vice versa. Words denoting any gender include all the genders and whenever reference is made to the terms "Paragraphs", "Sections" and "Appendices" it concerns paragraphs, sections and appendices of this Agreement.
The headings of the Sections are only used for facilitating the reference and they do not affect their interpretation. References to any law or regulation will be considered to comprise references to that law or regulation as this can be altered or replaced from time to time or, similarly, to be extended, re-enacted or amended.
The following are the investment services which the Company is authorized to provide in accordance with its CIF authorization are governed by this Agreement:
It shall be clarified and noted that the Company deals on an execution-only basis and does not advise on the merits of particular Transactions, or their taxation consequences.
You assume all responsibility in relation to any investment strategy, transaction or investment, tax costs, and for any consequences brought by from any transaction that you perform and the Company shall not be held responsible nor you shall rely on the Company for the aforementioned.
Where the Company provides general trading recommendations, market commentary or other information in its newsletters and/or website:
The Company’s operating hours are from 21:00 GMT on Sunday to 21:00 GMT on Friday, excluding holidays which will be announced through the Company’s website. The Company reserves the right to suspend or modify the operating hours on its own discretion and on such event its website will be updated without delay in order for you to be informed accordingly.
When you register for the aforementioned Services, the Company will ask you to provide certain identifying information, as part of the account opening procedure that will allow us to identify you and categorize you according to the "Client Classification Policy" of the Company.
By registering with the Company, you confirm and agree that you consent to the use of all or part of the information you supply concerning your trading account, the transactions you undertake through it and the interactions which you perform with the Company on behalf of the Company. All interactions you undertake with the Company will be stored by the Company for the purposes of record keeping, as required by the Law and may be employed by the Company in cases that disputes arise between you and the Company or on request by CySEC or any other competent authority.
You are categorized as a Retail Client. This categorization provides the highest level of protection compared to a Professional Client or Eligible Counterparty. In the event that you wish to be re-categorized you must inform the Company in writing, clearly stating such a wish. The final decision of the change in categorization however lies in the absolute discretion of the Company.
You are bound by the method and process of categorization as this is defined and thoroughly explained in the "Client Categorization Policy" which can be found on the Company’s website under the title "Client Categorization Policy". Therefore, by accepting these Terms and Conditions, you accept the application of the categorization method as this is defined in the "Client Categorization Policy".
You state, confirm and guarantee that any funds handed to the Company for trading purposes, belong exclusively to you , originate from a bank account or other source which is in your name and are free of any lien, charge, pledge or any other burden. Further, whatever funds handed over to the Company by you are not in any manner whatsoever directly or indirectly proceeds of any illegal act or omission or product of any criminal activity.
You act for yourself and not as a representative or a trustee of any third person, unless you have produced, to the satisfaction of the Company, a document and/or powers of attorney enabling you to act as representative and/or trustee of any third person.
You agree and understand that in the event that the Company has such proofs that are adequate to indicate that certain amounts, as classified above, received by you are proceeds from illegal acts or products of any criminal activity and/or belonging to a third party, the Company reserves the right to refund these amounts to the sender, either this being you or a beneficial owner of a legal entity. Furthermore, you also agree and understand that the Company may reverse any Transactions performed in your Trading Account and may terminate this agreement. The Company reserves the right to take any legal action against you to cover and indemnify itself upon such an event and may claim any damages caused to the Company by you as a result of such an event.
You declare that you are over 18 (eighteen) years old, in case of natural person, and that you have full legal capacity, to enter into this Agreement.
You understand and accept that all transactions in relation to trade in any of the Financial Instruments, will be performed only through the Trading Platforms provided by the Company and the Financial Instruments are not transferable to any other Trading Platform whatsoever.
You guarantee the authenticity and validity of any document handed over by you to the Company. You understand and accept that the Company is unable to provide you with any legal advice or assurances in respect of your use of the Services and the Company makes no representations whatsoever as to the legality of the Services in your jurisdiction.
The Company will provide you with Access Codes for gaining online access to the Company’s website and/or trading platforms, thereby being able to place orders for any Financial Instrument available from the Company and entering into Transactions with the Company. Further, you will be able to trade on the Company’s Trading Platforms with and through the Company with the use of a personal computer, smartphone or any other similar device that is connected to the internet. In this respect, you understand that the Company can, at its absolute discretion, terminate your access to the Company’s systems in order to protect both the Company’s and your interests and to ensure the systems’ effectiveness and efficiency.
You agree that you will keep the Access Codes in a safe place chosen in your discretion and will not reveal them to any other person. You will not proceed and avoid proceeding in any action that could probably allow the irregular or unauthorized access or use of the Trading Platforms.
You agree not to attempt to abuse the Trading Platforms in an attempt to make illegal profits or to attempt to profit by taking advantage of the server latency, or applying practices such as but not limited to price manipulation, lag trading, time manipulation.
You are responsible for all acts or omissions that occur within the Website through the use of your registration information. If you believe that someone has used or is using your registration information, user name or password to access any Service without your authorization, you should notify the Company immediately. You must make every effort possible to keep the Access Codes secret and known only to you and you will be liable of any Orders received by the Company through your trading Account under your Access Codes. Further, any Orders received by the Company will be considered as received from you.
You are responsible to monitor your Account and to notify the Company immediately if it comes to your attention that your Access Codes are lost or being used by an unauthorized third party. Also, you agree to immediately notify the Company should you become aware of any failure by you to receive a message indicating the reception and/or execution of an Order, the accurate confirmation of an execution, any information for your Account balances, orders or transactions history as well as in case you receive confirmation of an Order that you did not place.
You acknowledge that the Company may choose not to take action based on Orders transmitted to the Company using electronic means other than those Orders transmitted to the Company using the predetermined electronic means such as the Trading Platform, and the Company shall have no liability towards the Client for failing to take action based on such Orders.
You agree to use software programs developed by third parties including but not limited to the generality of those mentioned above, browser software that supports Data Security Protocols compatible with protocols used by the Company. Moreover, you agree to follow the access procedure (Login) of the Company that supports such protocols.
The Company will not be held responsible in the event of an unauthorized access from third persons to information including, but not limited to, electronic addresses and/or personal data, through the exchange of these data between you and the Company and/or any other party using the Internet or other network or electronic mean available.
The Company is not responsible for any power cuts or failures that prevent the use of the system and/or the Trading Platform and cannot be responsible for not fulfilling any obligations under this Agreement because of network connection or electricity failures .
The Company shall have no liability for any potential damage you may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, viruses, system errors, delays in execution, malicious blocking of access by third parties, internet malfunctions, interruptions or other deficiencies on the part of internet service providers. You acknowledge that access to electronic systems/trading platforms may be limited or unavailable due to such system errors, and that the Company reserves its right upon notifying you to suspend access to electronic systems/trading platforms for this reason.
The Company has the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use any Electronic Service, or any part thereof, without notice, where the Company consider it necessary or advisable to do so, for example due to your non-compliance with the Applicable Regulations, breach of any provisions of this Agreement, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of security. In addition, the use of a service may be terminated automatically, upon the termination (for whatever reason) of any license granted to the Company which relates to the particular service; or this Agreement. The use of a service may be terminated immediately if the service is withdrawn by any market or the Company is required to withdraw the facility to comply with Applicable Regulations. The Client further agrees that in the case that any financial contract is acquired or sold at prices that do not reflect its market prices, or that is acquired or sold at an abnormally low level of risk (the "mispricing") due to an undetected programming error, bug, defect, error or glitch in the Company’s website software or any other reason resulting in mispricing , the Company reserves the right to cancel such transactions upon notifying you of the nature of the computer error that led to the mispricing
Any usage of third party trading software other than software that was authorized by the company or enabled through the company API is strictly forbidden and the Company reserves the right to cancel transactions that were executed through such unauthorized software.
Through one or more of its Services, the Company makes available to you a wide range of financial information that is generated internally, from agents, suppliers or partners ("Third Party Providers"). This includes, but is not limited to financial market data, quotes and news, analyst opinions and research reports, graphs and data ("Financial Information"). The financial information provided on the Company’s website is not intentional investment advice. The Company and its Third Party Providers do not warrant the accuracy, timeliness, completeness or correct sequencing of the financial information, or results of your use of this financial information. The financial information may promptly become unreliable for various reasons, including, for instance, changes in market conditions or economic circumstances. It is your responsibility to verify the reliability of the information on the Company’s website and its suitability for your needs. We exclude all liability for any claim, damage or loss of any kind caused by information contained in the Company’s website or referenced by the Company’s website.
You can place an Order via the Company’s trading platform. Once your instructions or Orders are received by the Company, they cannot be revoked, except with the Company's written consent which may be given at the Company's sole and absolute discretion.
You place your market request at the prices you see on your application/platform and the execution process is initiated. Due to the high volatility of the market as well as the internet connectivity between the customer terminal and the server, the prices requested by the customer and the current market price may change, during this process.
The Company uses it’s reasonable endeavours to execute any order promptly, but in accepting your orders the Company does not represents or warrants that it will be possible to execute such order or that execution will be possible according to your instructions. In case the Company encounters any material difficulty in carrying out an order on your behalf, for example in case the market is closed and/or due to illiquidity in financial instruments and other market conditions, the Company shall promptly notify you.
Orders can be placed, executed, changed or removed only within the operating (trading) time and shall remain effective through the next trading session. Your Order shall be valid and in accordance with the type and time of the given Order, as specified. If the time of validity of the Order is not specified, it shall be valid for an indefinite period.
The Company may require you to limit the number of open positions which you may have with the Company at any time and the Company may in its sole discretion close out any one or more Transactions in order to ensure that such position limits are maintained. The position limits will be notified in advance to you either through the Company’s website or trading platforms.
If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value or market pricing that does not reflect accurately the level of risk, the Company reserves the right to withdraw the specific financial instrument from the Company’s trading platform.
The Company has the right to set control limits in relation to your orders at its own and absolute discretion. Such limits may be amended, removed or added and may include without limitation:
There may be restrictions on the number of Transactions that you can enter into on any one day and also in terms of the total value of those Transactions. You acknowledge that some markets place restrictions on the types of orders that can be directly transmitted to their electronic trading systems. These types of orders are sometimes described as synthetic orders. The transmission of synthetic orders to the market is dependent upon the accurate and timely receipt of prices or quotes from the relevant market or market data provider. You acknowledge that a market may cancel a synthetic order when upgrading its systems, trading screens may drop the record of such an order, and you enter such orders at your own risk. You shall refer to the Company’s website for details of the restrictions/limits imposed on Transactions performed through its electronic systems and/or trading platforms.
In case where the client has any open positions on the ex-dividend or split day for any of the underlying assets of the financial instrument, the Company has the right to adjust the price or close such positions at the last price of the previous trading day and open the equivalent volume of the underlying financial instrument at the first available price on the ex-dividend day. In this case, the Company will inform the client via the internal mail of the said adjustment and no client consent will be required.
The Company takes all reasonable steps to obtain the best possible results for its Clients. The Company’s Order Execution Policy sets out a general overview on how orders are executed as well as several other factors that can affect the execution of a financial instrument. You acknowledge and accept that you have read and understood the "Order Execution Policy", which was provided to you on the Company’s website.
You agree that the Company may execute an order on your behalf outside a regulated market and/or an MTF and that the Company’s Order Execution Policy will not apply when you place a specific instruction. The execution venue to all clients’ orders will be duly an authorised market maker.
Confirmations for all Transactions that have been executed in your Trading Account on a trading day will be available via your online Account through the Trading Platform as soon as the transaction is executed. It is your responsibility to notify the Company if any confirmations are incorrect. Confirmations shall, in the absence of manifest error, be conclusive and binding on you, unless you place your objection in writing within Five (5) Business Days.
The Company will quote prices and returns at which it is prepared to deal with you.
It is your responsibility to decide whether or not you wish to deal at the price quoted by the Company. The Company’s prices are determined by the Company in the manner set out in the enclosed terms.
Each price shall be effective and may be used in a dealing instruction prior to the earlier of its expiration time and the time, if any, at which it is otherwise withdrawn by the Company. A price may not be used in a dealing instruction after such time. Each price shall be available for use in a dealing instruction for a transaction with a principal amount not to exceed a maximum determined by the Company. You acknowledge that these prices and maximum amounts may differ from prices and maximum amounts provided to other customers of the Company and may be withdrawn or changed without notice. The Company may in its sole discretion and without prior notice to you immediately cease the provision of prices in some or all assets and for some or all value dates at any time.
When the Company quotes a price, market conditions may move between Company’s sending of the quote and the time your order is executed. Such movement may be either in your favour or against it. Prices that may be quoted and/or traded upon, from time to time, by other market makers or third parties shall not apply to trades between the Company and you.
Trading rules and the manner of calculating the Transactions' start, expiration and performance rates of indexes, stocks, commodities that are offered on the site may change from time to time at the Company's sole discretion. Client undertakes to continuously be updated on the manner of aforesaid calculation as appear in the Trading Rules.
Subject to market conditions, orders given by the Trade Control system shall be executed at the first tradable rate that provides a payout equals to or above the payout that was indicated by the client as upper limit, or at the first tradable rate that provides a payout equals to or below the payout as was indicated by the client as lower limit. Trade Control orders will be executed during Stockpair trading hours and according to Stockpair trading rules, specifically, Trade Control orders will not be executed after one hour and ten minutes before expiry of the option. Due to the nature of the financial markets, the movements of assets are not always continuous and might move considerably during a trading session or after the trading hours of the exchanges.
The client should read the Trading Rules policy which is a part of this agreement.
The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
It is understood that any refusal by the Company to execute any order shall not affect any obligation which you may have towards the Company or any right which the Company may have against you or your assets.
You declare that you shall not knowingly give any Order or instruction to the Company that might instigate the Company taking action in accordance with Paragraph above.
The Company may open, maintain and/or close your account, as well as seize, retain, hold and/or forfeit all or part of the funds (including profits) held in your account, cancel any actions (including, but not limited to, any trades performed via your account) and recover and/or forfeit any and all profits paid to you or to which you are entitled; The Company's rights in accordance with this clause will be at its sole discretion, including, but not limited to, in the following situations:
The Company shall proceed to a settlement of all transactions upon execution of such transactions. Acquisition of a financial contract is completed when the financial contract has been customized, the premium (or the margin, as the case may be) has been calculated and payment has been verified. You agree to be fully and personally liable for the due settlement of every transaction entered into under your account with the company.
Funds belonging to you that will be used for trading purposes will be kept in an account with any bank or financial institution used to accept funds which the Company will specify from time to time and will be held in the Company’s name. It is understood that the Company may hold funds on behalf of you in a bank established outside the European Union. The legal and regulatory regime applying to any such bank might be different from the legal and regulatory regime in Cyprus and the European Union and in the event of the insolvency or any other analogous events in relation to that bank, your funds may be treated differently from the treatment which would apply if the funds were held with a bank in an account in Cyprus and the European Union. The Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause.
By accepting the Agreement, you authorize the Company to make any deposits and withdrawals from the Bank Account on your behalf including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Agreement and all amounts which are payable by or on behalf of the Client to the Company or any other person.
It is commonly understood that any amount payable by the Company to you, shall be paid directly to you to a bank account the beneficial owner of which is you. Fund transfer requests are processed by the Company within the time period specified on the Company’s official website and the time needed for crediting into your personal account will depend on your bank account provider.
The Company retains a right of set off and may, at its discretion, from time to time and without your authorization, set-off any amounts held on behalf and/or to the credit of you against your obligation to the Company. Unless otherwise agreed in writing by the Company and you, this Agreement shall not give rise to rights of credit facilities.
You have the right to withdraw the funds which are not used for margin covering, free from any obligations from your Account without closing the said Account.
The Company reserves the right to decline a withdrawal request if the request is not in accordance with certain conditions mentioned in this Agreement or delay the processing of the request if not satisfied on full documentation provided.
It is within your terms that any incurring bank fees will be paid by you in case of funds withdrawals from your trading account to your designated bank account. You are fully responsible for the payment details that you provided to the Company and the Company accepts no responsibility if you have provided false or inaccurate bank details.
You agree that any amounts sent by you in the Company’s bank accounts, will be deposited to your trading account at the value date of the payment received and net of any charges/fees charged by the Bank Account providers or any other intermediary involved in such transaction process. In order for the Company to accept any deposits by you, the identification of the sender must by verified and ensure that the person depositing the funds is you. If these conditions are not met, the Company reserves the right to refund the net amount deposited via the method used by the depositor.
Withdrawals should be made using the same method used by the Client to fund his trading account and to the same remitter The Company reserves the right to decline a withdrawal with specific payment method and to suggest another payment method where you need to complete a new withdrawal request. In the event that the Company is not fully satisfied with the documentation provided in relation to a withdrawal request, the Company can request for additional documentation and if the request is not satisfied, the Company can reverse the withdrawal request and deposit the funds back to your trading account.
When a withdrawal request is submitted, the Company may take up to Five (5) business days to process the request. When your application is approved please wait for 5 to 7 additional days before seeing your funds in your account.
In the event that any amount received in the Bank Accounts is reversed by the Bank Account provider at any time and for any reason, the Company will immediately reverse the affected deposit from your trading account and further reserves the right to reverse any other type of transactions effected after the date of the affected deposit. It is understood that these actions may result in a negative balance in all or any of your trading account(s).
Wire Transfers: When depositing by a Bank Transfer, as required by anti-money-laundering regulations, the Client is required to use only one bank account, which is in his/her country of residence and in his/her name. An authentic SWIFT confirmation or Transfer Confirmation, showing the origin of the funds, must be sent to the Company. Failure to submit such SWIFT/Confirmation may result in the return of the deposited amount; hence preventing the deposit of such pending amounts to the Client’s trading account. Any withdrawal of funds, from the Client’s trading account to a bank account, can only be refunded to the same bank account that the funds were originally received from.
You agree to waive any of your rights to receive any interest earned in the funds held in the Bank Account where your funds are kept.
You acknowledge and confirm that any trading account held with the Company in which you have not placed a trade for a period greater than one calendar quarter shall be classified by the Company as an Inactive Account. You further acknowledge and confirm that such Inactive Accounts will be subject to a monthly maintenance fee of 20 USD/GBP/EUR (according to the account currency). You further agree that any Inactive Accounts, having zero balance/equity, shall be considered as Dormant Accounts. For the reactivation of an Inactive and/or Dormant Account you must contact the Company. The Inactive and/or Dormant Account will then be reactivated subject to, if required, up-to-date client identification documentation to be provided to the Company.
The Company is entitled to receive fees from the Client for its Services provided as described in the Agreement as well as compensation for the expenses it will incur for the obligations it will undertake during the provision of the said Investment Services. The Company reserves the right to modify, from time to time the size, the amounts and the percentage rates of its fees providing the Client with a respective notification of such changes accordingly. Notification is made via the Company’s website.
In the event where Client wish to withdraw their balance without having traded on the platform , they will be subject to a fee of up to 7% handling fees which would be determined at the Company’s sole discretion.
In case of any value added tax or any other tax obligations that arise in relation to a transaction performed on behalf of you or any other action performed under this agreement for you, the amount incurred is fully payable by you and in this respect you must pay the Company immediately when so requested and the Company is fully entitled to debit the account of you with the outstanding amount to be settled (excluding taxes payable by the Company in relation to Company’s income or profits).
Without limiting the foregoing, it is the Client’s obligation alone to calculate and pay all taxes applicable to him/her in his/her country of residence, or otherwise arising as a result of his/her trading activity from the use of the Company’s Services. Without derogating from his/her sole and entire responsibility to perform tax payments, the Client agrees that the Company may deduct tax, as may be required by the applicable law, but is not obligated to do so, from the results of the activity with the Company. The Client understands that amounts that may be withdrawn by him/her from his/her account are "gross amounts", from which the Company may deduct such taxes, and that you shall have no claim towards the company with regard to such deductions.
Benefits and Bonuses may be offered by the Company from time to time, and shall be credited to the client's account subject to the terms of the offer made to the client, e.g. making minimum deposits and/or executing certain trade volume within a specified time period. Unless mentioned otherwise, all special offers will be valid for a maximum period of 4 months and are subject to the Company’s Bonus & Promotion Terms and the client is encouraged to read the terms of the offer before accepting it.
The Company reserves the right to revoke the bonus/benefit should the special offer be abused and/or should the offer terms fail to be met. The Company's decision - should this be the case - shall be final. The Company reserves the right to revoke or change the offers at any time without prior notice.
CashBack: For preventing an abuse of the Cash Back benefit, if the minimum balance in order to be eligible for the Cash Back is reached during the last 7 trading days of the month by adding funds to the account, the Cash Back will be reversed if the client will withdraw from the account in the first 30 days after receiving the Cash back an amount that would have disqualified them from receiving the Cash Back if it was performed before the end of the month.
For volume purposes related to bonus, cashback and other benefits based on volume, trading both a CALL option and a PUT option on the same asset and at the same expiration time would be considered as a single trade.
It shall be noted that the Company and any entity related to the Company, will perform transactions in good faith and with proper due diligence but shall not be held liable for any omission, deliberate omission or fraud by any person, firm or company from whom the Company receives instructions for the execution of the Orders and/or from which transactions are carried out on behalf of you, including where this would be the result of negligence, deliberate omission or fraud on the part of the Company.
The Company will not be held liable for any lost opportunities by you that have resulted in either losses or reduction (or increase) in the value of your Financial Instruments.
In case the Company incurs any claims, losses, damage, liability or expenses that arise throughout the provision of the Services and all related operations that are performed as a mean for these Services to be performed to you as these are agreed in this Agreement or in relation to the potential disposal of your Financial Instruments, you are fully liable for these losses/expenses/liabilities/claims whereas the Company bears absolutely no responsibility and it is therefore your responsibility to indemnify the Company for the aforementioned.
The Company shall not be held liable for any damage caused to you as a result of any omission, negligence, deliberate omission or fraud by the bank where the Company’s bank account is maintained.
The Company shall not be held liable for the loss of Financial Instruments and funds of you in cases where your assets are kept by a third party such as a bank, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by you, of any change in the said information.
The Company makes every effort to ensure that the Banks and institutions to which your funds and/or Financial Instruments are deposited are of good standing and reputation. However, the Company shall not be held liable in the event of a loss resulting from deterioration of the financial standing of a bank or institution, or for an event such as a liquidation, receivership or any other event that causes the Bank or institution of a failure and therefore leads to a loss of all or part of the funds deposited.
The Company being a member of the Investors Compensation Fund (the "Fund") provides you with the security of receiving compensation from the Fund, for any claims arising from the malfunction on behalf of the Company or if the Company fails to fulfil its obligations regardless of whether that obligation arises from a breach of applicable law or regulations, the Agreement or from any wrongdoing by the Company. By accepting the Agreement you have read, understood and accepted the information under the title "INVESTOR COMPENSATION FUND" as this information appears on the Company’s website public and available for all Clients. Payments under the Investor Compensation Fund in respect of investments are subject to a maximum payment to any investor of EUR 20,000.
Without prejudice to any other terms of this Agreement, the Company will not be liable for:
The Company shall not be liable to you for any partial or non-performance of its obligations hereunder by reason of any cause beyond reasonable control of the Company, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or principal of the Company’s custodian, sub-custodian, dealer, Market, clearing house or regulatory or self-regulatory organisation, for any reason, to perform its obligations.
You further acknowledge that you are responsible for reviewing the expiration dates for the binary options, which are located on the Company’s official website.
Neither the Company nor its directors, officers, employees, or agents shall be liable for any losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under this Agreement (including any Transaction or where the Company has declined to enter into a proposed Transaction). In no circumstance, shall the Company has liability for losses suffered by you or any third party for any special or consequential damage, loss of profits, loss of goodwill or loss of business opportunity arising under or in connection with this Agreement, whether arising out of negligence, breach of contract, misrepresentation or otherwise.
You shall pay to the Company such sums as it may from time to time require in or towards satisfaction of any debit balance on any of your accounts with the Company and, on a full indemnity basis, any losses, liabilities, costs or expenses (including legal fees), taxes, imposts and levies which the Company may incur or be subjected to with respect to any of your accounts or any Transaction or any matching Transaction on a Market or with an intermediate broker or as a result of any misrepresentation by you or any violation by you of your obligations under this Agreement (including any Transaction) or by the enforcement of the Company’s rights.
You acknowledge that you have not relied on or been induced to enter into this Agreement by a representation other than those expressly set out in this Agreement. The Company will not be liable to you for a representation that is not set out in this Agreement and that is not fraudulent.
This Agreement shall be valid for an indefinite time period until its termination from either the Company or you or both.
The Agreement may be amended on the following cases:
You have the right to terminate the Agreement by giving the Company at least Five (5) days written notice, specifying the date of termination in such, on the condition that in the case of such termination, all Client's Open Positions shall be closed by the date of termination without derogating all the provision aforementioned therein, including charges, fees and penalties.
The Company may terminate the Agreement by giving you a Five (5) days written notice, specifying the date of termination therein.
The Company may terminate the Agreement immediately without giving any notice in the following cases:
The termination of the Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, you shall pay:
In case of breach by you of this agreement the Company reserves the right to reverse all previous transactions which place the Company’s interests and/or all or any its clients’ interests at risk before terminating the Agreement.
The following shall constitute "Events of Default" on the occurrence of which the Company shall be authorized to exercise its rights in accordance with Paragraph below:
On the occurrence of an Event of Default the Company shall be entitled to take, in its absolute discretion, any of the following actions at any time and without giving prior notice to you:
It shall be noted that the due to market conditions and fluctuations, the value of Financial Instruments may increase or decrease, or may even be reduced to zero. Regardless of the information the Company may provide to you, you agree and acknowledges the possibility of these cases occurring.
You are aware and acknowledge that there is a great risk of incurring losses and damages as a result of the investment activity (purchase and/or sale of Financial Instruments) through the Company and the Company’s Trading Platform and accepts that you are willing to undertake this risk upon entering into this business relationship.
You declare that you have read, understood and unreservedly accepted the following:
The maximum loss that may be incurred by any customer is the amount of money paid by them to the Company including fees.
Each financial contract purchased by a customer via the Company’s website is an individual Agreement made between that customer and the Company, and is not transferable, negotiable or assignable to or with any third party. For more information please read our Risk Disclosure Notice
The Company does not have any obligation to disclose to you any information or take into consideration any information either when making any decision or when it proceeds to any act on behalf of you, unless otherwise agreed and stated in this Agreement and where this is imposed by the relevant Laws and Regulations and directives in force.
By accepting this Agreement, you consent that you have read and accepted the terms of the
Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other communications to be given to the Company by you under the Agreement shall be in writing and shall be sent to the Company’s mailing address as indicated in the Company’s website or to any other address which the Company may from time to time specify to you for this purpose and shall take effect only when actually received by the Company, provided they do not violate and are not contrary to any term of this Agreement.
The Company reserves the right to specify any other way of communication with you.
You acknowledge that the Company might record telephone conversations between you and the Company without use of a warning tone to ensure that the material terms of the Transaction, and any other material information relating to the Transaction is promptly and accurately recorded. Such records will be the Company’s sole property and accepted by you as evidence of the Orders or instructions given.
The Company is obliged to put in place internal procedures for handling complaints fairly and promptly. You may submit a complaint to the Company via email. The Company will send to you a written acknowledgement of its complaint promptly following receipt, enclosing details of the Company’s complaints handling procedures, including when and how you may be able to refer its complaint to CySEC which is the relevant regulatory body. You are advised to contact the Company if you would like further details regarding its complaints handling procedures.
Under Applicable Regulations the Company is required to have arrangements in place to manage conflicts of interest between the Company and its clients and between other clients. The Company will make all reasonable efforts to avoid conflicts of interest when they cannot be avoided the Company shall ensure that you are treated fairly and at the highest level of integrity and that their interests are protected at all times.
You acknowledge and accept that you have read and accepted the "Conflicts of Interest Policy", which was provided to you during the registration process and is uploaded on the Company’s official website.
You acknowledge that no representations were made to you by or on behalf of the Company which have in any way incited or persuaded you to enter into the Agreement.
In case any provision of the Agreement is or becomes, at any time, illegal void or non-enforceable in any respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity 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.
All Transactions on behalf of you shall be subject to the laws which govern the establishment and operation, the regulations, arrangements, directives, circulars and customs (jointly hereinafter called the "Laws and Regulations") of CySEC, the Central Bank of Cyprus and any other authorities which govern the operation of the Investment Firms (as defined in such Laws and Regulations), as they are amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers desirable in view of compliance with the Laws and Regulations in force at the time. Any such measures as may be taken and all the Laws and Regulations in force shall be binding for you.
You shall take all reasonably necessary measures (including, without prejudice to the generality of the above, the execution of all necessary documents) so that the Company may duly fulfil its obligations under the Agreement.
The location of detailed information regarding the execution and conditions for the investment transactions in Financial Instruments conducted by the Company and other information regarding the activity of the Company are accessible and addressed to any natural persons and legal entities at the Company’s website over the Internet.
This Agreement and all transactional relations between you and the Company are governed by the Laws of Cyprus and the competent court for the settlement of any dispute which may arise between them shall be the District Court of the district in which the Company’s headquarters are located.