Terms and Conditions
The Terms and Conditions, as amended from time to time set out the terms of the agreement (hereinafter referred to as “Service Agreement”) between you (The Customer) and Freestyle Options binary broker operated by Megatrust LP , with the registered office at: 15 Bell Street, St.Andrews, Fife, KY16 9UR, UK.
The card payments and billing services are processed by Megatrust LP, with the registered office at: 15 Bell Street, St.Andrews, Fife, KY16 9UR, UK.
By accepting these Terms and Conditions and proceeding with opening a trading account with Freestyle Options the Customer understands, agrees and accepts the Terms and conditions.
1.1. Megatrust LP (hereinafter referred to as “the Company”) is a company that owns and operates the brand Freestyle Options (www.freestyle-options.com). The Company is incorporated and registered under the laws of Marshall Islands, with registration number 162115. The Company’s registered office is located at: 15 Bell Street, St.Andrews, Fife, KY16 9UR, UK.
Through its electronic online based system (hereinafter the “Trading Platform”) the Company provides the facility to trade Binary Options and real-time market data (hereinafter referred to as “the Services”).
1.3. The Customer acknowledges and accepts that the Company may operate other websites apart from the main website mentioned above and which may contain information concerning the Company, its services and the legal framework to which the Company is bound, either in English language or in different languages.
1.4. The Customer acknowledges that the Company’s official language is the English language and the acceptance of this Agreement including the “Terms and Conditions” constitutes a binding legal agreement with the Company.
1.5. The Company provides herein the trading terms and conditions of business it maintains.
SCOPE AND APPLICATION OF THE TRADING TERMS AND CONDITIONS
2.1. The Terms and Conditions apply to all the actions that are directly related to the investment services provided by the Company.
2.2. The Terms and Conditions lay out the framework of this Agreement and the nature of the investment services provided by the Company. They cannot be negotiated and overruled by any prior agreements or arrangements made between the Company and the Customer.
3.1. Upon acceptance of the Service Agreement the Customer can use the Company’s online trading platform, which is available on the website of the Company.
3.2. The Customer is responsible for any transactions executed through the trading platform, either by the Customer directly or by his/her authorized representative. When making investments, the Customer’s information is under Secured Socket Layer (SSL). The SSL protects the Customer and his/her information from fraud and can identify theft.
3.3. The Customer agrees and accepts 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, the Customer agrees to follow the access procedure (Login) of the Company that supports such protocols.
3.4. 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 the Customer and the Company and/or any other party using the Internet or other network or electronic mean available.
3.5. The Customer acknowledges that the Company has the right to restrict, modify or even terminate the access of the Customer to the trading platform if it’s deemed necessary. This measure is in force to ensure the unobstructed function of the electronic systems for trading and the protection of the interest of both the Customer’s and the Company’s and may be applied where the Company consider it necessary or advisable to do so, for example due to Customer’s non-compliance with the Applicable Laws, breach of any provisions of this Agreement, on the occurrence of an Event of Default, network problems, failure of power supply, for maintenance, or to protect the Customer when there has been a breach of security. In addition, the use of an electronic service may be terminated automatically, upon the termination (for whatever reason) of any license granted to the Company, which relates to the electronic service; or this Agreement. The use of an electronic service may be terminated immediately if an electronic service is withdrawn by any Market or the Company is required to withdraw the facility to comply with Applicable Laws.
3.6. The Customer remains fully liable for any and all positions traded on his/her account, and for any credit card transactions entered into the site for the Customer’s account. The Customer agrees to indemnify the Company fully in respect to all costs and losses whatsoever as may be incurred by the Company as a result, direct or indirect, of the Customer’s failure to perform or settle such a transaction. The Customer 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 (for the purpose of this section the “error”), the Company reserves the right to cancel such transactions upon notifying the Customer of the nature of the computer error that led to the mispricing.
3.7. The Customer’s access codes, transaction activities and all other related information must remain confidential at all times and the Company does not bear any responsibility of any financial loss that might arise should the Customer disclose his/her access codes to an unauthorized third party.
3.8. The Customer shall inform in writing the Company immediately in the case where his/her the access codes have been used by another party without his/her consent.
3.9. In cases where there is a disruption in the electronic trading and the Customer is not able to access the online trading platform (internet, electricity or platform caused delay) the Customer must contact the Company either though telephone or email to request an approval for the placement of a verbal instruction. The Company may, in certain circumstances, accept instructions, by telephone via the Company’s Dealing Room but the Customer understands and accepts that is at the sole discretion of the Company to accept any transaction through the telephone and that the decision of the company on this matter is final. The Customer also understands that if the instructions are not clear or his/her identity cannot be verified the Company will immediately decline to examine his/her request to accept any verbal instruction. In addition, the Customer must acknowledge that in circumstances of large transaction flow (important market news announcement) there might be also some delay to respond to his request to accept any verbal instruction. 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.
3.10. The Company shall be responsible to maintain and update its electronic systems at all times and therefore the Customer must accept the need for periodic maintenance to ensure the effective operation of the trading platform and that the Company does not bear any responsibility for any loss incurred during maintenance.
3.11. The Company shall not be accountable for any loss or damages that might incur to the equipment or software due to viruses, malfunctions or defects of its electronic systems. Moreover the Company shall have no liability for any potential damage the Customer 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. The Customer acknowledges 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 the Customer to suspend access to electronic systems / trading platforms for these reasons.
4.1. Trading Binary Options is highly speculative, carries a high level of risk and may not be suitable for all investors. As a customer you may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose. As a Customer you should be aware of all the risks associated with trading Binary Options. As a Customer you also understand that when trading Binary Options you are trading on the outcome of the price of an underlying asset and that trading occurs in a Over-The-Counter (OTC) market. Consequently, you acknowledge the risks involved in the transactions of such instruments.
4.2. With this Agreement the Customer agrees that he/she understood and accepted that the value of any investment in any type of financial instrument including Binary Options may change upwards or downwards or may result in no value at all. The Customer is also aware and acknowledges that there is a great risk of incurring losses and damages of some or all of the initial investment as a result of the investment activity (purchase and/or sale of Financial Instruments/ Binary Options) through the Company and the Company’s Trading Platform and accepts that he/she is willing to undertake this risk upon entering into this business relationship.
4.3. The Customer acknowledges and accepts that there may be other risks which are not contained in Section 4 of this Agreement and that he has read accepted and understood all the risks involved and therefore accepted and understood the Risk Disclosure Policy which is a necessary document of the registration process with the company and can be reviewed on the company’s website.
CUSTOMER ACCOUNT OPENING PROCEDURE
5.1. The Company welcomes applications to open Trading Accounts from Customers that trade Binary Options with past experience or with a good faith effort to gain knowledge and experience in trading this financial instrument. More specifically the Customer acknowledges and accepts that by opening a trading account with the Company shall fulfil his/her minimum obligations of frequent trading and that he/she shall start trading within twenty (20) working days from the day of the opening of the trading account as well as shall perform at least ten (30) trades within the first three (3) months and prior to placing a withdrawal request. In cases where the customers don’t comply with the above trading obligations and requests a withdrawal within said three (3) initial months after activating the trading account, the Company shall impose a maintenance fee of 15% of the total deposit of the Customer per each month of inactivity. In the event that the Customer performs the required thirty trades within the first three months, no monthly maintenance fee or inactivity fees shall be applied.
5.2. When the customer accepts article 5.1 and registers on our website for getting our Services, the Company will request him/her to provide certain identifying information to open a trading account. The customer agrees that he/she has to provide us with true, accurate, current and complete information about him/herself or his/her company during the Registration / Application process, and he/she also agrees not to misrepresent or hide his identity from the Company. The Customer also accepts and confirms that he/she will use his/her account for his own behalf and that he/she is not pursuing at any time to act with a fraudulent manner nor he/she is seeking to impersonate any other individuals for any purpose whatsoever.
5.3. After each customer fills in and submits an electronic application together with all the required documentation requested by the Company, the Company will perform all internal controls such as anti-money laundering and customer appropriateness tests and will send to the customer a notice informing him/her whether or not he/she has been accepted as the Company’s Customer. The Agreement will take effect and begin on the date on which the Customer receives notification from the Company that he/she has been accepted as a Customer and that a Customer Trading Account has been created and activated for him. The Company is not required to accept any person as its Customer until all necessary documentation has been received, correctly and entirely completed by such person, and all internal Company controls have been completed to the Company’s agreement.
5.4. During the Registration process the customer shall create user name and password that must be used only by him/her every time he/she accesses the website to use our Services. For protection the Customer must not share his/her Registration information with any another person or business entity for all purpose, including, but not limited to, facilitating access and unauthorized use of the service. If the Customer believes that someone has used or is using his/her registration information, user name or password to access any service without his/her authorization, he/she must immediately notify in writing the Back Office of the Company.
5.7. The Customer assumes full responsibility in relation to any investment strategy, transaction or investment, tax costs, and for any consequences brought by from any transaction that he/she performs and acknowledges and accepts that the Company shall not be held responsible and accepts that he will not rely on the Company for the aforementioned.
5.8. The Company’s operating hours are 07:00 -16:00 GMT Monday to Friday, excluding official holidays as announced from time to time. The Company reserves the right to suspend or modify the operating hours on its own discretion and on such event its websites will be updated without delay in order for the Customer to be informed accordingly. The Company has the right to refuse the provision of any investment service to the Customer, at any time, without being obliged to inform the Customer of the reasons why in order to protect the lawful interests of both the Customer and the Company.
5.9. From time to time the Company may contact the customer whether by phone or email or by any form of communication means for the purpose of offering them further information about the Company, Binary Options trading / financial market trading. In addition, the company may, on occasion, seek to contact Customers, whether by phone or by email, for the purpose of informing them of unique promotional offerings provided by the Company.
5.10. The Company may, at its sole discretion, arrange for any Transaction to be effected with or through the agency of an intermediate broker, who may be an associate of the Company. Neither the Company nor its respective director, officers, employees or agents will be held liable to the Customer for any act or omission of an intermediate broker or agent. No responsibility will be accepted for intermediate brokers or agents selected by the Customer.
5.11 All KYC (know your client) documents need to be sent prior the client’s account activation.
FEES, COMMISSIONS, CHARGES AND OTHER COSTS
7.1. The provision of Services is subject to the payment of costs, charges, commissions and handling fees that the Company is entitled to receive from the Customer for its Services provided as described in this Customer Agreement and on the Company’s website. The Company is also entitled for compensation for the expenses it will incur for the obligations it will undertake during the provision of the said Services in addition to costs, other commissions, handling fees and charges may be due by the Customer directly to third parties. The Customer is obliged to pay all such costs. The Company reserves the right to modify, from time to time the size, the amounts and the percentage rates of its fees providing the Customer with a respective notification of such changes accordingly. Notification can also be made via the Company’s website and relevant notification to the Customer’s e-mail address provided to the Company during registration process should be sent.
7.2. Certain types of costs may appear as a percentage of the value of the type of the financial instrument, therefore the Customer has the responsibility to understand how costs, charges and handling fees are calculated and charged.
7.3. The Customer is solely responsible for all filings, tax returns and reports on any transactions which should be made to any relevant authority, whether governmental or otherwise, and for payment of all taxes (including but not limited to any transfer or value added taxes), arising out of or in connection with any transaction.
7.4. Maintenance Fees for Dormant Accounts. Fees are also applied in the case where the Customer have no transactions (trading / withdrawals / deposits), for a period of twelve (12) months as in such a case the account will be considered by the Company as being dormant.
7.5. There are no fees relating to withdrawals by credit card, but any withdrawal that is processed by wire transfer will be charged with the amount of $25. Once a withdrawal request is submitted, the Company may take up to 3 business days to process the request.
7.6. By accepting the Company’s Terms and Conditions and opening a trading account the Customer has read, understood and accepted the information presented on the Company’s website that is publicly available for all Customers, in which all the related information for commission, fees, and costs, handling and financing fees can be reviewed. The Company may amend from time to time at its own discretion all such commission, costs, handling and financing fees. The Company shall notify the Customer via e-mail at least 24 hours in advance, with regards to the updated charges and fees. Upon provision of the e-mail, the Customer is deemed to have seen, reviewed and considered the Company’s commission, charges, costs and financing fees and any changes that the company may make thereto from time to time.
CUSTOMER INSTRUCTIONS AND ORDERS
8.1. The Customer shall provide instructions to the Company through the trading platform or other electronic means determined in the Customer Agreement.
8.2. The Customer’s orders are executed at the Bid and Ask prices of the available current market prices that the Company offers through its liquidity providers/ Market Makers. For instant execution orders the Customer places his order based on the current prices displayed in his /her terminal and the execution process is triggered. The Customer acknowledges and accepts that the requested price of a market request may change on account of high volatility of the market or low connectivity between the Company server and the Customer terminal. Moreover, in the case of any communication and/or technical error that affect the quoted prices, the Company reserves the right not to execute an order.
8.3. In the case of the materialization of a corporate action, the Customer accepts that the Company has the right to proceed to alterations to the value and/or size of a transaction. An alteration would be made to maintain the economic equivalent of the rights and obligations of the parties of that transaction prior to a corporate action. The alterations are conclusive and binding and the Customer will be properly and promptly informed by the Company.
8.4. Once the Customer’s 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. The Company reserves its right not to accept Customer’s orders, in its absolute discretion, and in such a case the Company shall not be obliged to give a reason but it shall promptly notify the Customer accordingly.
8.5. The Company uses its reasonable endeavors to execute any order promptly, but in accepting the Customer’s 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 the Customer’s instructions. In case the Company encounters any material difficulty in carrying out an order on Customer’s 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 the Customer.
8.6. Orders can be placed, executed, cancelled only within the operating (trading) time and can remain effective through the next trading session and or until expiration. The Customer’s order shall be valid and in accordance with the type and time of the given order, as specified.
8.7. The Company may require the Customer to limit the number of open positions which the Customer 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 the Customer either through the Company’s website or trading platforms.
8.8. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, 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 Customer’s orders at its own discretion. Such limits may be amended, removed or added and may include without limitation:
Controls over maximum order amount and size;
Controls over the electronic systems and/or trading platforms to verify for example the Customer’s identity during the receipt of the order; or
any other limits, parameters or controls which the Company may deem required to be implemented in accordance with Applicable Regulations.
8.9. Confirmations for all Transactions that have been executed in the Customer’s Trading Account on a trading day will be available via Customer’s online Account through the Trading Platform as soon as the transaction is executed. It is the Customer’s responsibility to notify the Company if any confirmations are incorrect. Confirmations shall, in the absence of manifest error, be conclusive and binding on the Customer, unless the Customer places his/her objection in writing within 2 days. The Customer might request to receive the Account statement monthly or quarterly via email, by providing such a request to the customer support department, but the Company is not obliged to provide the Customer with the paper Account statement. The Account statement is provided at the expense of the Customer.
8.10. The Customer acknowledges that all orders are executed by the Company on behalf of the Customer.
REFUSAL TO EXECUTE ORDERS
9.1. The Customer accepts that the Company reserves the right to refuse the provision of any investment service, at any time, including but not limited to the execution of instructions for trading any type of Binary Option/ financial instrument of the Company, without prior notice to the Customer. The circumstances under which the Company shall proceed to the above actions are the following:
If the Customer has insufficient funds in his/her account;
If the order affects the orderly function of the market;
If the order aims at manipulating the market of the underlying financial instrument;
If the order constitutes the exploitation of confidential information;
If the order affects the orderly operation of the trading platform; and
If the order contributes to the legalization of proceeds from illegal activities such as money laundering and or any other illegal activities.
9.2. The Customer understands that any act of refusal by the Company for the execution of any order will not affect any obligation of the Customer towards the Company under the Agreement. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Customer may have towards the Company or any right which the Company may have against the Customer or his assets. The Customer also declares that he/she shall not knowingly give any order or instruction to the Company that might instigate the Company taking action in accordance with Paragraph 9.
CANCELLATION OF TRANSACTIONS
10.1. The Company has the right to cancel a transaction if it has adequate reasons and/or evidence to believe that one of the following has incurred:
Fraud / illegal actions led to the transaction,
Orders placed on prices that have been displayed as a result of system errors or systems malfunctions either of those of the Company or of its third party service providers.
The Company has not acted upon Customer’s instructions.
The Transaction has been performed in violation to the provisions of this Agreement.
SETTLEMENT OF TRANSACTIONS
11.The Company shall proceed to a settlement of all transactions upon execution of such transactions. Acquisition of a Binary Option / financial contract is completed when the Binary Option / financial contract has been customized, the premium has been calculated and payment has been verified. The Customer agrees to be fully and personally liable for the due settlement of every transaction entered into under his/her account with the Company. Any confirmation or proof for any act or statement of Account or certification issued by the Company in relation to any transaction or other matter shall be final and binding on the Customer, unless the Customer has any objection in relation to such statement of Account or certification and the said objection is communicated in writing and received by the Company within two calendar days from the receipt or the deemed date of receipt of any statement of Account or certification.
DORMANT ACCOUNT PROCEDURES AND HANDLING FEES
12. Customer accounts in which there have been no transactions (trading / withdrawals / deposits), for a period of twelve (12) months, will be considered by the Company as being dormant accounts. Dormant accounts will be charged with Dormant Account Annual Fees of 12% on the deposit amount. There will be no charge if the free balance is zero and consequently, all accounts with a zero balance will be closed and the customers shall be informed accordingly via e-mail.
13.1. If the Customer has any complaint in relation to any of the services provided by the Company, this complaint should be transmitted through the Customer Support department. All Customers’ complaints are received by the Customer Support as soon as the issue is submitted by the Customer. The Customer shall have the right to contact the Compliance Officer of the Company if the reply from the Customer Support is deemed unsatisfactory.
13.2. If the Customer wishes to report a complaint, then he must send his/her message to the Company’s Customer Support email: email@example.com with the following information included:
Customer’s name and surname;
Customer’s account number;
Detailed enquiry description and other relevant information;
References of transactions involved in the specific complaint;
Date and time that the concern/problem arisen;
Any attachment that supports his concern/problem.
13.3. If a situation arises which is not expressly covered by the present Agreement, the parties shall agree to try to resolve the matter on the basis of good faith and fairness and by taking the necessary actions which are consistent with the current market practices.
HANDLING OF CUSTOMERS FUNDS
14.1. When holding Customer’s funds, the Company shall take every possible action to ensure that the Customer’s funds are safeguarded.
14.2. Funds belonging to the Customer and that will be used for trading purposes will be kept in an account with any bank or financial institution licensed to accept funds which the Company will specify from time to time to the Customer.
14.3. The Customer acknowledges and agrees that the Company retains the right to set-off and may, at its discretion, from time to time and without the Customer’s authorization, set-off any amounts held on behalf and/or to the credit of the Customer against the Customer’s obligation to the Company including but not limited for charges, fees, expenses and handling fees charged or incurred by the Company on behalf of the Customer.
14.4. The Customer accepts to clearly denote all the required information on any payment document that the Company may request (funds/ deposit/ withdrawal/ transfer) and to comply with the international regulations against fraud and money laundering. The Company shall not accept any payment made by a third party on behalf of the Customer without its prior written approval together with the relevant identification documents of the third person as per the Company’s KYC Policy.
14.5. Any amount of funds transferred by the Customer from his/her bank account will be deposited to his/her trading account at the value date of the payment receipt and the amount will be net of any charges / fees charged by the Bank Account providers and/or any other intermediary Bank/Financial Institution involved in the process of his/her transaction/remittance.
14.6. The Company reserves the right to refuse a transfer of funds on behalf of the Customer and not to credit his/her trading account in the following cases:
If the Company has reasonable suspicion that the person transferring the funds is not duly authorized;
If the funds are not directly transferred from the Customer and a third party is involved;
If the identification of the sender is not verified and if the Company does not ensure that the person depositing the funds is the Customer
In any of the above cases the Company will send back the received funds to the remitter by the same method as they were received and the Customer will suffer with all the relevant Bank Charges created due to the above transaction.
14.7. The Customer agrees to waive any of his rights to receive any interest earned in the funds held in the Bank Account where Customer’s funds are kept.
14.8. The Customer shall be entitled to withdraw from his/her account any available funds that are not used as other obligations or charges or any amounts which require particular conditions to be fulfilled. 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 it is not satisfied with the KYC and or other documentation provided by the Customer. The Customer acknowledges and accepts that that any incurring bank / merchant fees will be paid by him in case of fund withdrawals from his/her trading account in order to credit his/her designated bank account. The Customer is fully responsible for the payments details that he/she provided to the Company and the Company accepts no responsibility if the Customer has provided false or inaccurate bank / merchant details.
14.9. The Company reserves the right to decline a withdrawal with specific payment method and to suggest another payment method where the Customer needs 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 the Customer’s trading account. Fund transfer requests are processed by the Company within the time period specified on the Company’s official website or within the present Agreement and the time needed for crediting into the customer’s personal account will depend on the Customer’s recipient Bank and or Merchant provider. The provision of documentation or any other type of Customer authentication as may be required from time to time by Anti Money Laundering (AML) regulations, Credit Card companies and the Company is a prerequisite, prior to the execution of any withdrawal order.
14.10. The Customer acknowledges that in case where the bank account that the Customer’s funds are held is frozen for any given period and for any given reason, the Company assumes no responsibility and the Customer’s funds will also be frozen. Furthermore, the Customer acknowledges that he has read and understood the additional information provided on each payment method available on the Company’s website.
14.11. When the Customer is depositing funds to his /her account with the Company by using a Bank Transfer, as required for anti-money-laundering regulations, the Customer is required to use only one bank account 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 Customer’s trading account. Any withdrawal of funds, from the Customer’s trading account to a bank account, can only be refunded to the same bank account that the funds were originally received from.
14.12. The Customer acknowledges that when is depositing money with Credit / Debit Cards and is selecting a trading account base currency other than USD and EUR, the Customer’s credit card may be debited sums which due to exchange rates and credit card companies’ fees, may slightly vary from the initial sum that has been deposited by the Customer in the account base currency. The Customer hereby accepts that such variations may occur and he/she hereby affirms that shall not seek to object or charge this back. When the account base currency is either USD or EUR and the currency of the Customer’s credit/debit card is the same then the above difference/charges are usually avoided.
PERSONAL DATA AND CONFIDENTIALITY
15.1. The Company may collect Customer information directly from the Customer (from the completed online registration form or otherwise) or from other persons including, for example, credit reference agencies, fraud prevention agencies and the providers of public registers.
15.2. The Company will use, store, process and handle personal information provided by the Customer (in case of a natural person) in connection with the provision of the services of the Company and in accordance with the Processing of Personal Data (Protection of the Individual) Law of 2001.
15.3. The Company will treat as confidential any Customer information it holds and this information will be used solely in connection with the provision of the services of the Company. Information already made public, or previously held by the Company without the obligation of confidentiality will not be regarded as such.
15.4. The Company has the right to disclose Customer information including recordings and documents of a private nature in the following circumstances:
where required by the governing law or a competent Court;
where requested by any regulatory authority that has jurisdiction over the Customer or their associates or in whose territory the Company has Customers;
where required by relevant authorities to investigate or prevent fraud, money laundering or any other illegal activity;
where necessary in order for the Company to defend or exercise its legal rights; to the Company’s professional advisors provided that in each case the relevant party shall be duly informed about the confidential nature of such information and commit to the confidentiality herein obligations as well;
to credit reference and fraud prevention agencies and other financial institutions for credit checking, fraud prevention, anti-money laundering purposes, identification or due diligence of the Customer; at the Customer’s request or with the Customer’s consent.
15.5. By entering into the present Agreement, the EU Customers consent to the transmittal of the Customers’ personal data outside the European Economic Area, according to the provisions of Processing of Personal Data (Protection of the Individual) Law of 2001.
15.6. Telephone conversations between the Customer and the Company may be recorded and recordings will be the sole property of the Company. The Customer accepts such recordings as conclusive evidence of the Orders/Instructions/Requests or conversations so recorded.
15.7. The Customer accepts that the Company may, from time to time, make direct contact with the Customer by telephone, fax, or otherwise.
15.8. Under applicable legislation, the Company will keep records containing Customer personal data, trading information, account opening documents, communications and anything else which relates to the Customer for at least five years after termination of the present Agreement.
AMENDMENT AND TERMINATION OF THE AGREEMENT
16.1. The Company reserves the right to amend, modify, update and change any of the terms and conditions of this Agreement, from time to time, and to notify the Customer via e-mail for any such amendment, modification or change by publishing the new version of this Agreement on the relevant page of the Company’s websites. Any modified version of this Agreement will take effect five (5) calendar days after its publication on the Internet Site and the Customer’s continued use of the Services or the Software after the aforementioned 5 calendar days will be deemed to constitute the Customer’s acceptance of the changes to this Agreement. The Customer accepts and acknowledges that is responsible to ensure that he/she is aware of the correct, current terms and conditions of this Agreement and is advised to check for updates on a regular basis. The Customer also accepts and acknowledges that a variation which is made to reflect a change of law or regulation may, if necessary, take effect immediately. The Company, for protection of rights and interests of its Customers has right to notify them about the changes of the conditions in Terms and Conditions by other means except its websites such as: via email, phone, fax and/or other means, at these determined terms of entry into effect may be reduced.
16.2. The Company may terminate the Agreement immediately without giving any notice in the following cases:
Death of a Customer;
In case of a decision of bankruptcy or winding up of the Customer is taken through a meeting or through the submission of an application for the aforementioned;
Termination is required by any competent regulatory authority or body;
The Customer violates any provision of the Agreement and in the Company’s opinion the Agreement cannot be implemented;
The Customer violates any law or regulation to which he is subject, including but not limited to, laws and regulations relating to exchange control and registration requirements;
The Customer involves the Company directly or indirectly in any type of fraud.
An Event of Default as defined below:
The failure of the Customer to observe or perform any other provision of this Agreement and such failure continues for one Business Day after notice of non-performance has been provided to the Customer by the Company.
Any representation or warranty made or given or deemed made or given by the Customer under this Agreement proves to have been false or misleading in any material respect as at the time it was made or given or deemed made or given.
Any other situation where the Company reasonably considers it necessary or desirable for its own protection or any action is taken or event occurs which the Company considers that might have a material adverse effect upon the Customer’s ability to perform any of its obligations under this Agreement.
16.3. Termination by any party will not affect any obligation which has already been incurred by either party in respect of any open position or any legal rights or obligations which may already have arisen under the Service Agreement or any transactions and deposit/withdrawal operations made there under.
16.4. Upon termination of this Agreement, all amounts payable by the Customer to the Company will become immediately due and payable including (and not limited to):
All outstanding costs, fees, handling fees 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;
Any damages which arose during the arrangement or settlement of pending obligations;
Transfer/bank fees/charges for Customer funds;
Any other pending obligations of the Customer under the Agreement.
16.5. Upon Termination the Company reserves the right to the following actions, without any prior notice to the Customer: upon Termination if the balance in the Customer’s account is positive, the Company will pay the amount of the balance after deducting any bank/transfer fees/charges to the Customer as soon as is reasonably practicable and supply him/her with a statement showing how that balance has been calculated.
CONFLICTS OF INTEREST
17.1. The Company is required by law to take all necessary precautions in order to avoid conflicts of interest between the Company and its Customers and when they cannot be avoided the Company shall ensure that the Customers are fairly treated and their interests are protected at all times. The Company will make all reasonable efforts to manage conflicts of interest.
ANTI – MONEY LAUNDERING PROVISIONS
18.1. The Company is legally obliged by the local authorities to take all necessary actions for the prevention and suppression of money laundering activities. The Customer shall understand from the above that the Company shall request and obtain certain verification documents from the Customer to be legally compliant.
18.2. In the case where the Customer fails to provide the Company with the necessary information in regards to the above the Company reserves the right not to execute orders on behalf of the Customer. Any delays that might arise in regards to the verification documents of the Customer are not the responsibility of the Company.
19.1. A Force Majeure Event includes without limitation each of the following:
Government actions, the outbreak of war or hostilities, the threat of war, acts of terrorism, national emergency, riot, civil disturbance, sabotage, requisition, or any other international calamity, economic or political crisis;
Act of God, earthquake, tsunami, hurricane, typhoon, accident, storm, flood, fire, epidemic or other natural disaster;
Labor disputes and lock-out;
Suspension of trading on a Market, or the fixing of minimum or maximum prices for trading on a Market, a regulatory ban on the activities of any party (unless the Company has caused that ban), decisions of state authorities, governing bodies of self-regulating organizations, decisions of governing bodies of organized trading platforms;
A financial services moratorium having been declared by appropriate regulatory authorities or any other acts or regulations of any regulatory, governmental, or supranational body or authority;
Breakdown, failure or malfunction of any electronic, network and communication lines (not due to the bad faith or willful default of the Company);
Any event, act or circumstances not reasonably within the Company’s control and the effect of that event(s) is such that the Company is not in a position to take any reasonable action to cure the default;
The suspension, liquidation or closure of any market or the abandonment or failure of any event to which the Company relates its quotes, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event.
19.2. If the Company determines the existence of a Force Majeure Event (without prejudice to any other rights under the Service Agreement) the Company may without prior notice and at any time take any or all of the following steps:
close out any or all open positions at such prices as the Company considers in good faith to be appropriate;
suspend or modify the application of any or all terms of the Agreement to the extent that the Force Majeure event makes it impossible or impractical for the Company to comply with them;
take or omit to take all such other actions as the Company deems to be reasonably appropriate in the circumstances with regard to the position of the Company, the Customer and other Customers;
19.3. Under the provisions of this Agreement, the Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing its obligations under this Agreement where such failure, interruption or delay is due to a Force Majeure event.
INTRODUCTION OF CUSTOMER FROM AN INTRODUCING BROKER
20.1. In cases where the Customer is introduced to the Company through an Introducing Broker, the Customer acknowledges that the Company is not responsible or accountable for the conduct, representations or inducements of the Introducing Broker and the Company is not bound by any separate agreements entered into between the Customer and the Introducing Broker.
THIRD PARTY AUTHORIZATION
21.1. The Customer has the right to authorize a third person to place instructions and/or orders to the Company or to handle any other matters related to the Customer’s account, provided that the Customer notifies the Company. In the event of exercising such a right this person must be approved by the Company and must fulfil all of the Company specifications including any information for anti-money laundering purposes as per the Company’s KYC policy.
21.2. Unless the Company receives a written notification from the Customer for the termination of the authorization of the person as described in paragraph 21.1., the Company will continue accepting instructions and/or orders and/ or other instructions relating to the Customer’s account given by this person on the Customer’s behalf and the Customer will recognize such orders as valid.
21.3. The written notification for the termination of the third party authorization has to be received by the Company with at least 5 working days’ notice prior the termination of the authorization date.
LIABILITY AND INDEMNITY
22.1. In the case where the Company provides information, news, information relating to transactions, market commentary and any other information to be provided within the limits of the Company’s authorization to the Customer (or in newsletters which it may post on its website or provide to subscribers via its website or otherwise), the Company shall not be liable for any losses, costs, expenses or damages suffered by the Customer arising from any inaccuracy or mistake in any such information given. Subject to the right of the Company to void or close any transaction in the specific circumstances set out the Agreement, any transaction following such inaccuracy or mistake shall nonetheless remain valid and binding in all respects on both the Company and the Customer.
22.2. The Company shall not be held liable for any loss or damage or expense incurred by the Customer in relation to, or directly or indirectly arising from but not limited to:
any error or failure in the operation of the Company’s online trading system;
any delay caused by the Customer terminal;
transactions made via the Customer terminal;
any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control;
the acts, omissions or negligence of any third party;
any person obtaining the Customer’s access data prior to the Customer’s reporting to the Company of the misuse of his access codes;
all orders given through and under the Customer’s access codes;
unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and access codes 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;
a delay transmitting any order for execution;
any changes in the rates of tax;
any actions or representations of the introducing broker.
22.3. If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Customer Agreement and/or in relation to the provision of the services and/or in relation to any order, it is understood that the Company bears no responsibility whatsoever and it is the Customer’s responsibility to indemnify the Company.
22.4. The Company, its directors, officers, employees or agents shall in no circumstances be liable to the Customer for any significant or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses the Customer may suffer in relation to the Agreement.
23.1. Our services are available to and may only be used by individuals or companies who can form legally binding contracts under the Law applicable to their country of residence and that they are willing to perform trading in Binary Options. Without limiting the foregoing, our Services are not available to persons under the age of 18 or otherwise under the legal age (“Minors”). If you are a minor, you may not use this service. For avoidance of doubt, we shall not be responsible for any unauthorized use by minors of our services in any way or manner. Furthermore, our services are available only to, and may only be used by individuals who have sufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks of acquiring financial contracts via the Company’s websites and have done so without relying on any information contained in the Company’s website. The Customer accepts and acknowledges that he/she shall bear sole responsibility for any decision made and/or to be made by you relying on the content of the Site. Without derogating from the above provision, the Company shall not be responsible for the information provided by the Customers during the account opening procedure and the assessment of appropriateness. The Company shall not be responsible for the Customers who, during the assessment of appropriateness, have failed to pass the relevant test and, upon acceptance of a risk warning provided by the Company, they wished to proceed with the activation of the trading account and the performance of transactions, nor shall we be responsible for any damage and/or loss incurred by the Customer due to and/or related to the Site, transactions carried out by the customer and/or the Customer’s use of the Services. The offering of binary options on various underlying financial and other assets may not be legal in some jurisdictions. The Customer understands and accepts that the Company is unable to provide him/her with any legal advice or assurances in respect of his/her use of the Services and the Company makes no representations whatsoever as to the legality of the Services in your jurisdiction. Our Services are not available where they are illegal to use, and the Company reserves the right to refuse and/or cancel services to anyone at its own discretion. For avoidance of doubt, the ability to access our website does not necessarily mean that our services, and/or the Customer’s activities through it, are legal under the laws, regulations or directives relevant to his/her country of residency. Furthermore, the Company declares to the prospective Customer that it is not regulated by any financial authority as a regulated investment firm to provide financial services and the Customer hereby acknowledges that fact and waives any rights to claim that he/she was misled and/or that fact was kept hidden from him/her fraudulently or by omission.
GUARANTEES ON BEHALF OF THE CUSTOMER
24.1. The Customer states, confirms and guarantees that any money handed to the Company for any purpose, belongs exclusively to the Customer and is free of any lien, charge, pledge or any other burden. Further, whatever money is handed over to the Company by the Customer is not in any manner whatsoever directly or indirectly proceeds of any illegal act or omission or product of any criminal activity.
24.2. The Customer acts for himself and not as a representative or a trustee of any third person, unless he has produced, to the satisfaction of the Company, a document and/or powers of attorney enabling him to act as representative and/or trustee of any third person.
24.3. The Customer agrees and understands that in the event that the Company has such proofs that are adequate to indicate that certain amounts, received from the Customer 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 the Customer or a beneficial owner. Furthermore, the Customer also agrees and understands that the Company may reverse any transactions performed in the Customer’s trading account and may terminate this Agreement. The Company reserves the right to take any legal action against the Customer to cover and indemnify itself upon such an event and may claim any damages caused to the Company by the Customer as a result of such an event.
24.4. The Customer declares that he/she is over 18 (eighteen) years old, in case of natural person, or that it has full legal capacity, in case of legal person, to enter into this Agreement.
24.5. The Customer understands and accepts that all transactions in relation to trade in any of the Financial Instruments will be performed only through the trading platform provided by the Company.
24.6. The Customer guarantees the authenticity and validity of any document handed over by the Customer to the Company.
BONUS AND INSURED TRADES
25.1. Trading benefits such as bonuses and risk free trades are offered to prospective or existing client clearly and indisputably at the Company’s absolute discretion. The Company takes into consideration any information presented by Customer to the Company during the application process which includes, but it is not limited to, financial situation, trading experience and knowledge.
25.2. The Company, based on the information provided by the Customer, evaluates whether a trading bonus is suitable and/or appropriate for the Customer.
25.3. Customer becomes eligible for withdrawal when he/she completes the account verification process as per the Company’s Terms & Conditions, makes an initial minimum deposit into trading account and reaches a minimum trading volume of 30x (thirty times) of the bonus amount, unless otherwise is specified on the Company’s website. A bonus is considered accepted by the Customer upon commencement of trading operations by the Customer.
25.4. The bonus amount is usually associated with the amount deposited by the trader but this may not always be the case, and may also be subject to the different trading benefits promotions that may be active at the given point in time.
25.5. Insured Trades offer traders the opportunity to open one or two trades, equal to or exceeding the insured amount specified in corresponding account type offer. Only the First trade (Gold account) or First and Second trades (Diamond account), placed immediately after trading account activation are insured. If the trade closes “in the money”, the trader will receive the invested amount plus the payout amount. In case the trade closes “out of the money”, the trader will receive a compensation in a form of bonus, that will offset his loss of the invested amount (not exceeding insured amount) to his/her trading account. Compensation will be credited to the trading account within 3 business hours after receiving such claim.
26.1. Tradephoria is a new age trading game allowing Customers to win high rewards, including Jackpots, formed by the money invested by players of each table.
26.2. Customer can choose one of the table categories (30-minute, 3-Hour, End-of-day or Mega555) in Game Rooms tab or Table selection page, and then choose a table out of a variety of different tables within the chosen category (i.e. EUR/USD, AUD/USD, EUR/JPY etc.).
26.3. Customer has to make sure that the chosen table is open. When game is in progress Customer won’t be able to join it. Game in progress message is displayed. Customer can wait for the table expiry or choose a different table.
26.4. Customer can set a Target Rate and join the game by pressing Start the Game button. Winning corridor will be set automatically according to the table rules.
26.5. If expiry rate falls within chosen target winning corridor at the moment of game expiry Customer will win the declared prize pool or jackpot. If several participants win the game the declared prize pool or jackpot is equally divided between them.
26.6. If no one wins the game, the reward is transferred towards the next game, thus forming a Jackpot growing with every game until someone wins it. Company deducts 15% from the reward payable to the winning player.
SOCIAL TRADING TERMS
27.1. Freestyle Options platform constantly monitors the performance of all live accounts and reserves the right to display trades of the best performing accounts in its Social trading system.
27.2. Qualification freehold is 75% win rate on the last 100 trades placed by the Customer. Once qualified the account appears in the rotation based on the results of the previous day trading performance. If win rate falls below 75% on any given day, the system removes the account from the social trading for the following day. If on any given day the account win rate reaches 75%, the system returns the account in the social trading for the following day. Consistent underperformance leads to permanent removal of the account from the signal rotation. If a Customer doesn’t want to have his trades displayed in the system he may contact the Company with the request to remove his account from the social trading system
27.3. Customer agrees to bear complete responsibility for the choice of signal provider(s)/signals and acknowledge that Company has not and will not make any specific recommendations to Customer upon which he/she is entitled to rely. Information disseminated on this website represents impersonal, disinterested opinions, the information does not constitute investment advice or a recommendation to trade using any specific signal provider.
28.1. The Customer acknowledges that no representations were made to him/her by or on behalf of the Company which have in any way incited or persuaded him/her to enter into the Agreement.
28.2. 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.
28.3. Every content, trademark, service mark, trade name, logo and icon are the property of the Company or its affiliates or agents and are protected by law and international treaties and provisions relating to copyright. The Customer agrees not to remove copyright notices or other indications of protected intellectual property rights of any material he/she prints or downloads from the website. The Customer will not obtain intellectual property rights, or any right or license to use such material or the website, other than those set forth herein. Images displayed on the website are property of the Company. The Customer agrees not to upload, post, distribute or reproduce any information, software or other material protected by copyright or other intellectual property rights (including rights of publicity and privacy) without first obtaining permission from the copyright owner and the prior written consent of the Company.
APPLICABLE LAW AND REGULATIONS
29.1. This Agreement is governed by the Laws of UK.
29.2. Notwithstanding any other provision of this Agreement, in providing Services to the Customer the Company shall be entitled to take any action as it considers necessary in its absolute discretion to ensure compliance with the relevant market rules and or practices and all other applicable laws.
29.3. The Company shall be entitled to take or omit to take any measures which it considers desirable in view of compliance with the applicable legislation in force at the time. Any such measures as may be taken and the applicable legislation in force shall be binding on the Customer.