HIGH RISK INVESTMENT WARNING: Trading Binary Options is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all of the risks associated with trading Binary Options.

BDB is a trading name of Banc De Binary Limited, a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. 188/13 and is registered with regulatory authorities in Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, and United Kingdom. BDB is located at Kanika International Business Centre office 401, Profiti Ilias 4, Germasogeia 4046, Limassol, Cyprus

Account Opening- Information and Requirements
Appropriateness Assessment - 4
Pricing - 8
Cancellation of Transactions - 10
Clients’ Funds - 12
Company’s Fees - 15
Company Liability and Indemnity - 16
Acknowledgment of Risks - 21
Complaints Procedure - 25
Conflict of Interest - 26

Banc De Binary LIMITED

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 signing this agreement, it is assured that you understand and agree with the terms of this agreement.

 

INTRODUCTION – ABOUT US

Banc De Binary Limited (hereafter the “Company”), is a Cyprus Investment Firm that provides investment and ancillary services on a European level, via its website found at eu.bancdebinary.com , as these are defined throughout this Agreement, through its electronic system over the Internet (hereafter the “Trading Platforms”). Banc De Binary Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (“CySEC”), under authorisation number CIF 188/13. The trading address of BDB is situated at Kanika International Business Centre, Office 401, 4 Profiti Ilias, Germasogeia, 4046 Limassol, Cyprus.

The Company will provide investment services (hereafter the “Services”) strictly under the terms and conditions defined throughout the Agreement.

The Agreement is otherwise effective for all users as of January 7, 2013. The previous terms and conditions are effective for all transactions that were not closed on or before January 7, 2013 made by users who registered before January 7, 2013 and who did not receive an e-mail notification of the new Agreement.

If you are not in agreement to be bound by the terms and conditions of this Agreement, please do not use or access our services and inform us in writing immediately.

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 10 days after its publication on the Internet Site and your continued use of the Services or the Software after the aforementioned 10 days 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.

 

ONLINE SERVICES AGREEMENT

This Agreement applies to both the BDB websites and the trading platforms, as well as to the electronic content and or software currently contained on the website that supplies the customer with real time information and any other features, content or services that the Company may add in the future.
The Client has read and accepted all the information presented in the Company’s websites which are available to the public. It is noted that Company may operate other websites apart from the main websites mentioned above and which may contain information concerning the Company, its services and the legal framework to which the Company is bounded, in different languages other than the English language.

The Services provided by the Company are defined as follows: “Enabling the Company’s Clients to use the trading platform in order to place trades according to each client’s sole discretion. The Company is not obliged in any way to provide any further services beyond the aforementioned. Nevertheless, every service provided by the Company beyond the aforementioned will be provided according to the Company’s sole discretion”.

 

ELIGIBILITY
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. 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 offering of binary options on various underlying financial and other assets may not be legal in some jurisdictions. 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. 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 Web site 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.

COMMUNICATION WITH US

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. Our websites contain further details about us and our services, and other information relevant to this Agreement. By accepting and agreeing to the Terms and Conditions of this Agreement and further opening an account with the Company, the Client accepts 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.

 

Marketing and Educational Material

By accepting the Company’s Terms and Conditions the Client hereby agrees to receive from the Company Marketing and Educational material by different means of communications including but not limited to electronic mails, SMS, phone conversations etc. Notwithstanding the above, the Client hereby acknowledges that he may request at any time not to receive any further content of this kind, and the Company will be obliged to comply with the Client request immediately and with no delays.

 

1.DEFINITIONS – INTEPRETATION

“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 electronic systems.

“Agreement” means these Terms and Conditions for the Services offered by the Company.

“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, including MiFID.

“Balance” means the sum held on behalf of the Client on its Client Account within any period of time.

“Base Currency” means the first currency in a currency pair.

“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 websites” means the following website www.eu.bancdebinary.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 a Principal to Clients’ transactions.

“Financial Markets” means international financial markets in which currency and other financial assets 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:

1. Transferable securities
2. Money Market instruments
3. Units in collective investment undertakings
4. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
5. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event).
6. Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market or/and an MTF.
7. Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls.
8. Derivative instruments for the transfer of credit risk.
9. Financial contracts for differences.
10. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin

“Operating (Trading) Time of the Company” means period of time within a business week, where the trading terminal 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 services which will be provided by the Company to the clients and are governed by this Agreement as these are described in Paragraph 3 of this Agreement.

“Transaction” means any type of transaction subject to this Agreement effected 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.

2. PROVISION OF SERVICES

The following investment services which the Company is authorized to provide in accordance with its CIF authorization are governed by this Agreement:

1. Reception and transmission of orders in relation to the Financial Instruments the Company is authorised to provide.
2. Execution of orders on behalf of clients
3. Investment advice

A separate agreement will be signed if the Company will provide to the Client other investment services. In addition, the Company will provide the Client with the following ancillary services:

1. Safekeeping and administration of financial instruments, including custodianship and related services
2. Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction
3. Foreign exchange services where these are connected to the provision of investment services.
4. Investment research and financial analysis or other forms of general recommendation relating to transactions in Financial Instruments.

3.ACCOUNT OPENING INFORMATION AND REQUIREMENTS

When you register for the Services, the Company will ask you to provide certain identifying information (“Account opening”).

1. You agree to provide true, accurate, current and complete information about yourself during the Registration process, and you also agree not to impersonate any person or entity, misrepresent any affiliation with another person, entity or association, use false headers or otherwise conceal your identity from the Company.
2. During the Registration process you will be provided with a user name and password that it will be used by you every time you access the website to use the Service. For your protection and that of other website users, you should not share your Registration information with another person or business entity for all purpose, including, but not limited to, facilitating access and unauthorized use of the service. 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 our Customer Support immediately.
3. If you are registering as a legal entity, you hereby declare that you have the authority to bind that entity to this Agreement. The Company will treat with care the information you entrust to the Company, in accordance with the disclosures it provides during the Registration process and in its Privacy Policy.
4. 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.
5. When you open an account, we ask that you provide your name, address, date of birth and other information that will allow us to identify you and categorize you according to the “Client Classification Policy” of the Company. The Company reserves the right to ask for additional identification documents, if deemed necessary.
6. When you register with the Company you acknowledge your willingness to share with the Company certain private information which it uses for the purpose of confirming your identity and categorizing you according to the “Client Classification Policy”. This information is collected in line with our stringent verification procedures which are used to deter international money laundering operations and to ensure the security and safety of our customer’s trading activity throughout and is subject to the Company’s “Privacy Policy”.
7. Our clients are required to state categorically that they register and trade on their own behalf and are not seeking at any time to act any manner which could be considered fraudulent nor are they seeking to impersonate any other individuals for any purpose whatsoever.
8. By registering with the Company and through the voluntary interaction they undertake with the Company’s products and services, the client confirms and agrees that they consent to the use of all or part of the information they supply concerning their trading account, the transactions they undertake through it and the interactions which they perform with the Company on behalf of the Company. All interactions the customer undertakes 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 clients and the Company or on request by CySEC or any other competent authority.

From time to time the Company may contact clients 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 or financial market trading. In addition the company may, on occasion, seek to contact clients, whether by phone or by email, for the purpose of informing them of unique promotional offerings provided by the Company.

Where the Company provides general trading recommendations, market commentary or other information in its newsletters and/or website:

1. this is incidental to Client dealing relationship with the Company. It is provided solely to enable the Client to make own investment decisions and does not result to investment advice;
2. if the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he/she will not pass it on to any such person or category of persons;
3. the Company gives no representation, warranty or guarantee as to the accuracy or completeness of such information or as to the tax consequences of any Transaction;
4. the Client accepts that prior to its dispatch, the Company may have acted upon it for its own account or made use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that the Client will receive such information at the same time as other clients. Any published research reports or recommendations may appear in one or more screen information service.

The Company will act in the capacity of a principal and not as an agent on Client’s behalf and in this respect the Client enters into this Agreement as a principal and not as an agent on behalf of another person either legal or natural.

The Company’s operating hours are from 06:00 GMT on Monday to 22:00 GMT on Friday, excluding official holidays in Europe. 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 Client to be informed accordingly.

The Company has the right to refuse the provision of any investment and/or ancillary service to the Client, at any time, without being obliged to inform the Client of the reasons why in order to protect the lawful interests of both the Client and the Company.

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, and may not be in Cyprus. Neither the Company nor its respective director, officers, employees or agents will be held liable to the Client for any act or omission of an intermediate broker or agent. No responsibility will be accepted for intermediate brokers or agents selected by the Client.

 

Appropriateness Assessment

In order to comply with CySEC, the Company incorporates during the registration process an appropriateness assessment, which will allow us to assess whether the Service or Financial Instrument is appropriate for you. .

You are required to provide true and updated information and we are entitled to rely on the information you provide us. We have no responsibility for the information which you provide to us and we will assess your appropriateness on the basis of the information you give to us.

Based on the information you provide us, we will determine whether the Service or Financial Instrument is suitable or not for your level of experience and/or knowledge. You will be notified of this determination by email.

If you elect to refrain from providing the information required or if you provide insufficient information, we will be unable to determine whether the Service or Financial Instrument is appropriate for you. Therefore your request to open an account with the Company will be declined until the final completion of the full questionnaire.

 

4.CLIENT CATEGORIZATION

Company will deal with the Client according to the rules of professional conduct based on which the Client will be treated as Retail Client, Professional Client or Eligible Counterparty in accordance with the information provided to the Company during the Account opening procedure. The Client shall inform the Company in case the Client’s personal information change. In the event that the Client wishes to be re-categorized the Client 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.

The client is 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, the Client accepts the application of the categorization method as this is defined in the “Client Categorization Policy”.

 

5.GUARANTEES ON BEHALF OF THE CLIENT

The Client states, confirms and guarantees that any funds handed to the Company for trading purposes, belong exclusively to the Client and are free of any lien, charge, pledge or any other burden. Further, whatever funds handed over to the Company by the Client is not in any manner whatsoever directly or indirectly proceeds of any illegal act or omission or product of any criminal activity.

The Client 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.

The Client agrees and understands that in the event that the Company has such proofs that are adequate to indicate that certain amounts, as classified above, received by the Client 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 Client or a beneficial owner. Furthermore, the Client also agrees and understands that the Company may reverse any transactions performed in the Client’s Trading Account and may terminate this agreement. The Company reserves the right to take any legal action against the Client to cover and indemnify itself upon such an event and may claim any damages caused to the Company by the Client as a result of such an event.
The Client 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.

The Client understands and accepts 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.
The Client guarantees the authenticity and validity of any document handed over by the Client to the Company.

 

6.ELECTRONIC TRADING

Upon accepting and signing this Agreement, the Client is entitled to apply for Access Codes to gain online access to the Company’s electronic systems and/or trading platforms, thereby being able to place orders for transactions to either buy or sell any Financial Instrument available from the Company. Further, the Client 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, the Client understands that the Company can, at its absolute discretion, terminate the Client’s access to the Company’s systems in order to protect both the Company’s and clients’ interests and to ensure the systems’ effectiveness and efficiency.

The Client agrees that he/she will keep the Access Codes in a safe place chosen in his/her discretion and will not reveal them to any other person. The Client will not proceed and avoid proceeding in any action that could probably allow the irregular or unauthorized access or use of the Trading Platforms.
The Client agrees 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 price manipulation, lag trading, time manipulation.

The Client is responsible for all acts or omissions that occur within the Websites through the use of his/her registration information. If the Client believes that someone has used or is using his/her registration information, user name or password to access any Service without the Client’s authorization, the Client should notify our Customer Support immediately. The Client will make every effort possible to keep the Access Codes secret and known only to him and will be liable of any Orders received by the Company through his trading Account under his Access Codes. Further, any Orders received by the Company will be considered as received from the Client. In cases where a third person is assigned as an authorized representative to act on behalf of the Client, the Client will be responsible for all Orders given through and under the representative’s Account Password.

The Client is responsible to monitor his Account and to notify the Company immediately if it comes to his attention that his Access Codes are lost or being used by an unauthorized third party. Also, the Client agrees to immediately notify the Company should he become aware of any failure by the Client to receive a message indicating the reception and/or execution of an Order, the accurate confirmation of an execution, any information for Client’s Account balances, positions or transactions history as well as in case the Client receives confirmation of an Order that he did not place.

The Client acknowledges 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.

The Client agrees 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 Client agrees 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 the Client 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. In the case of such electricity / communication/ Internet failures, if the Client wishes to place an Order, then the alternative means of communications/placing orders will be by phone. The Company reserves the right to decline any verbal instruction in cases where its telephone recording system is not operational or in cases where the Company is not satisfied of the caller’s/Client’s identity or in cases where the transaction is complicated or in cases where the quality of the line is poor. The Company further reserves the right to ask the Client to give instructions regarding the Client’s transactions by other means that it deems appropriate.
The Company shall have no liability for any potential damage the Client 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 Client 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 Client 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 Client’s 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 Client’s non-compliance with the Applicable Regulations, 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 Client 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 Regulations. The Client 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 Client’s account. The Client 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 Client’s failure to perform or settle such a transaction. 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 (for the purpose of this section the “error”), the Company reserves the right to cancel such transactions upon notifying you of the nature of the computer error that led to the mispricing. The Company may, at its sole discretion, impose volume or other limits on Customer accounts. Contract payouts shall be determined by the Company by reference to the daily values reported on this website relevant to the inter-bank trading data received by the Company for all options, subject to the proviso that the Company shall have the right to make corrections to such data in the event of mispriced or typographically incorrect data.

 

7.ORDERS – INSTRUCTIONS AND BASIS OF DEALINGS

7.1. Reception and Execution of Transactions

The Company may, in certain circumstances, accept instructions, by telephone via the Company’s Dealing Room, provided that the Company is satisfied, at its full discretion, of the Client’s identity and the Company is further also satisfied with the clarity of instructions. In case of an Order received by the Company in any means other than through the Trading Platform, the Order will be transmitted by the Company to the Trading Platform and processed as if it was received through the Trading Platform. It is understood that an Order will not be affected until it is actually considered received by the Company.

It is noted that in this Agreement, instructions and orders have the same meaning.
In the event that the Company wishes to confirm in any manner any instructions and/or Orders and/or communications sent through the telephone, it reserves the right to do so. The Client accepts that there is a risk of misinterpretation or mistakes in the instructions or Orders sent through the telephone, regardless of what caused them, including, among others, technical failures.

Once the Client’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 Client’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 Client accordingly.

The Customer places his market request at the prices he sees on his terminal/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 Customer has the right to use a Power of Attorney to authorize a third person (representative) to act on behalf of the customer in all business relationships with the Company. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the customer.

The Company uses it’s reasonable endeavours to execute any order promptly, but in accepting the Client’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 Client’s instructions. In case the Company encounters any material difficulty in carrying out an order on Client’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 Client. The Client agrees that the Company may execute an order on Client’s behalf outside a regulated market and that the Company’s order execution policy will not apply when the Client places a specific instruction.

Orders can be placed, executed, changed or removed only within the operating (trading) time and shall remain effective through the next trading session. The Client’s 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 shall record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the customer and/or any other material information relating to a transaction are properly recorded. Such records will be the Company’s >

1. controls over maximum order amount and size;
2. controls over the electronic systems and/or trading platforms to verify for example the Client’s identity during the receipt of the order; or
3. any other limits, parameters or controls which the Company may deem required to be implemented in accordance with Applicable Regulations.

There may be restrictions on the number of Transactions that the Client can enter into on any one day and also in terms of the total value of those Transactions when using an Electronic Service. The Client acknowledges 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. The Client acknowledges that a Market may cancel a synthetic order when upgrading its systems, trading screens may drop the record of such an order, and the Client enters such orders at his own risk. The Client 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 day for any of the underlying assets of the financial instrument, the Company has the right to 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.

 

7.2. Confirmations

Confirmations for all Transactions that have been executed in the Client’s Trading Account on a trading day will be available via Client’s online Account through the Trading Platform as soon as the transaction is executed. It is Client’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 Client, unless the Client places his/her objection in writing within five (5) Business Days. The Client might request to receive the Account statement monthly or quarterly via email, by providing such a request to the client support department, but the Company is not obliged to provide the Client with the paper Account statement. The Account statement is provided at the expense of the client.

 

7.3. Authorisation of third person to give instructions on behalf of a Client

The Client has the right to authorize a third person to give instructions and/or Orders to the Company or to handle any other matters related to this Agreement, provided that the Client has notified the Company in writing that such a right shall be exercised by a third party and that this person is approved by the Company and fulfils all of Company’s conditions to allow this.

In case the Client has authorised a third person as mentioned in Section 7.3.1 above, it is agreed that in the event that the Client wishes to terminate the authorisation, it is the Client’s full responsibility to notify the Company of such decision in writing. In any other case, the Company will assume that the authorisation is still ongoing and will continue accepting instructions and/or Orders given by the authorised person on behalf of the Client.

 

8.PRICING

The Company will quote prices at which it is prepared to deal with the Client. Save where:

1. The Company exercises any of its rights to close out a Transaction; or
2. a Transaction closes automatically, it is Client’s responsibility to decide whether or not he wishes to deal at the price quoted by the Company. 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. The Client acknowledges 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 the Client immediately cease the provision of prices in some or all currency pairs 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 the Client’s order is executed. Such movement may be in Client’s 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 the Client.

 

9.REFUSAL TO EXECUTE ORDERS

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:

1. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
2. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
3. If the order is a result of the use of inside confidential information (insider trading) It is understood that any refusal by the Company to execute any order shall not affect any obligation which the client may have towards the Company or any right which the Company may have against the customer or his assets. The Client declares that he shall not knowingly give any Order or instruction to the Company that might instigate the Company taking action in accordance with Paragraph 9.1 above.

 

10.CANCELLATION OF TRANSACTIONS

The Company has the right to cancel a transaction if it has adequate reasons / evidence to believe that one of the following has incurred:

1. Fraud / illegal actions led to the transaction,
2. 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.
3. The Company has not acted upon Client’s instructions.
4. The Transaction has been performed in violation to the provisions of this Agreement.
5. The Company reserves the right to cancel executed trades if the trade cancellation feature is abused.

An acceptable rate of cancellation is 2 cancelled trades per executed trade. A rate of cancellation higher than 2 cancelled trades per executed trade will be considered abuse of the cancellation feature.
The Company offers clients the ability to cancel trades within 3 seconds of opening the position, if they find the position to be undesirable.

 

11.SETTLEMENT OF TRANSACTIONS

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. The Client agrees to be fully and personally liable for the due settlement of every transaction entered into under your account with the company. Further to the provisions of paragraph 7.2. of this Agreement, a statement of Account will be provided by the Company via the Trading platform to the Client once a year, as required by the Law. 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 Client, unless the Client 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 five (5) working days from the receipt or the deemed date of receipt of any statement of Account or certification.
In the case where the Client is able to have an online statement for his Account on a continuous basis, then the Company is considered as having fulfilled its obligations and any objections of the Client shall be valid only if received by the Company in writing within two (2) working days from the transaction under objection.

 

12.CLIENTS FUNDS

Funds belonging to the Client 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 Client’s name and/or the Company’s name. It is understood that the Company may hold funds on behalf of the Client 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, Client’s 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.

However, the Company does take steps to ensure the protection of financial instrument and funds as follows:

2007. Investor Compensation Fund:The Company is a member of the Investor Compensation Fund for Customers of Cyprus Investment Firms (CIFs) which was established under the Investment Firms Law 2002 as amended and replaced by Law 144(I)/2007 and the Establishment and Operation of an Investor Compensation Fund for Customers of CIFs Regulations of 2001 which were issued under the Law 144(I)/2007. The Fund compensates the covered clients for claims arising from the covered services provided by its members, as long as failure by the member to fulfill its obligations has been ascertained notwithstanding a relevant obligation by the member of the Fund in accordance with the legislation and the terms which govern its agreement with the covered client and regardless of whether the said obligation of the member of the Fund is based on the agreement or on wrongdoing. Further details shall be disclosed within the Company’s Investor Compensation Fund Policy.
2008. Due Skill, Care and Diligence:The Company deposits financial instruments held on behalf of its clients into an account or accounts opened with a third party provided that the Company has exercised all due skill, care and diligence in the selection, appointment and periodic review of the third party and of the arrangements for the holding and safekeeping of those financial instruments. In regards to the deposit of clients’ funds, if the Company does not deposit clients’ funds with a central bank, it is exercising all due skill, care and diligence in the selection, appointment and periodic review of the credit institution, bank or money market fund where the funds are placed and the arrangements for the holding of those funds. In general, the Company takes into account the expertise and market reputation of the third party as well as all the legal requirements or market practices related to the holding of those financial instruments that could adversely affect clients’ rights.
2009. Denomination and Segregation of Clients’ Accounts:The Company shall take all the necessary measures in order to ensure that any clients’ financial instruments deposited with a third party are identifiable separately from the financial instruments belonging to the Company and from financial instruments belonging to that third party, by means of differently titled accounts on the books of the third party or other equivalent measures that achieve the same level of protection. Similarly, as per the legislative requirement of Paragraph 20 of the Directive DI144-2007-01, the Company, on receiving any clients’ funds, promptly places those fund into one or more accounts, denoted as “clients’ accounts”.
2010. Diversification of risks:The Company shall ensure, where deemed necessary, the diversification of the clients’ financial instruments and funds (i.e. maintenance of accounts with several third parties).

Counterparty risk

Counterparty risk is a type (or sub-class) of credit risk and is the risk of default by the counterparty involved in transactions with derivative contracts.

Upon signing the Agreement, the Client authorizes the Company to make any deposits and withdrawals from the Bank Account on his 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 the Client, shall be paid directly to the Client to a bank account the beneficial owner of which is the Client. 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 the client’s personal account will depend on the client’s bank account provider.

The Company retains a right of set off and may, at its discretion, from time to time and without the Client’s authorization, set-off any amounts held on behalf and/or to the credit of the Client against the Client’s obligation to the Company. Unless otherwise agreed in writing by the Company and the Client, this Agreement shall not give rise to rights of credit facilities. The Client has the right to withdraw the funds which are not used for margin covering, free from any obligations from his 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 of the Client. It is within the Client’s terms that any incurring bank fees will be paid by him in case of funds withdrawals from his trading account to his designated bank account. The Client is fully responsible for the payments details that he has provided to the Company and the Company accepts no responsibility if the Client has provided false or inaccurate bank details.

The Client agrees that any amounts sent by the Client in the Bank Accounts, will be deposited to the Client’s 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 the Client, the identification of the sender must by verified and ensure that the person depositing the funds is the Client. 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 the Client 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 Client’s trading 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 the Client’s 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 the Client’s trading account(s). The Client agrees to waive any of his rights to receive any interest earned in the funds held in the Bank Account where Client’s funds are kept.

The Client shall clearly specify his name and all required information, in accordance with international regulations related to the fight against money laundering and terrorism financing, on the payment document. It is the Company’s policy not to accept payments from third parties to be credited to the Client’s account unless a written consent is provided.

The Company has the right to refuse a client’s transferred funds in any of the following cases:

1. if the funds are transferred by a third party
2. if the Company has reasonable grounds for suspecting that the person who transferred the funds was not a duly authorized person
3. if the transfer violates Cyprus legislation.

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 client will suffer the relevant client’s bank account provider charges.

Client fund transfer requests will be performed from the Company’s client portal located on its official website. The Company shall take every effort to notify clients prior to any fund transfer request, of all charges, fees and costs for the said fund transfer.

The client acknowledges that in case where a client’s bank account is frozen for any given period and for any given reason the Company assumes no responsibility and client’s funds will also be frozen. Furthermore, the client acknowledges that he has read and understood the additional information provided on each payment method available on the Company’s client portal. The provision of documentation or any other type of Client 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 a withdrawal order. Withdrawal of credit card deposits: Credit card deposits may be, according to credit card companies’ regulations, returned to same credit card when a withdrawal is performed. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to credit card or to bank account at Company’s discretion. Withdrawals to bank account may take a longer time period, due to additional security procedures and documentation from the Client. Please note that we only accept withdrawal requests of at least $100 per transaction.

 

Credit Card Deposits

When choosing an account base currency other than USD and EUR, the Client’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 Client in the account base currency. The Client hereby accepts that such variations may occur and he/she hereby affirms that shall not seek to object or charge this back. Note that when using USD and EUR as account base currency these phenomena will be avoided.

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.

 

Omnibus Account Risk

The risk of loss emanating from the use of omnibus accounts in third parties, i.e. financial or credit institutions. The above risk may hold other types of risks including legal, fellow client risk, liquidation risk, haircut risk, third party risk etc.

Risk Warning

The Company may hold funds in omnibus accounts within third party financial and credit institutions. In such case, it may not be possible to separate it from other customer’s money, or the third party’s money.
In the event of the insolvency or any other analogous proceedings in relation to that third party, the Company may only have an unsecured claim against the third party on behalf of the Customer, and the Customer will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Customer with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses.

 

13.DORMANT ACCOUNT PROCEDURE

Client accounts in which there have been no transactions (trading / withdrawals / deposits), for a set period of 6 months, will be considered by the Company as being dormant accounts. Such 6 month period shall begin from the first day following the last day of the twelfth month in which no transaction was undertaken. Dormant accounts will be charged an annual maintenance fee of EURO €50 or the full amount of the free balance in the account if the free balance is less than EURO €50. There will be no charge if the free balance is zero. Consequently, all accounts with a zero free balance will be closed.

 

14.ROLLOVER FEATURE

The Rollover feature enables the trader to extend the expiration time of his position. A trader can postpone his option expiry time to a different expiry time within the same day only if there are future expires besides the end of the day and under the conditions listed below:

1. The rollover can be performed up to 15 minutes before expiry;
2. The trader position is out of the money;
3. The asset offers an additional option for the next 60 min.
4. An additional 30% will be added automatically to the initial investment

15.COMPANY’S FEES

As of 1.12.2016 Banc De Binary Ltd. will cease granting Bonus to its clients

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.
Irregular withdrawal

In the event where a Client accepts a bonus (please refer to Bonus Terms & Conditions), undertakes the obligation of our trading benefits (but not exclusively) and requests to withdraw in contrary to the terms and conditions of the bonus benefits will be reviewed by a special committee that will decide with accordance to the CI144-2014-02 (Bonus Circular) and in accordance with each Client’s unique circumstances.
Please note that the refund amount of an irregular withdrawal calculation reflects the Client’s trading achievement in a proportional manner between the Client’s deposited funds and the bonus funds received by the Company, all to the best interest and benefit of the Client.
For illustration purposes:

Assuming that the Client deposited €1,000 and received a Bonus for the amount of additional €1,000, meaning the total capital was €2000.

Therefore, the percentage of the deposited funds out of the total capital is 50%.
Following the above, the Client’s profit was €500.

Meaning, the Client’s current total capital after accumulating his profits was at the amount of €2,500.
In this case the Client will be able to withdraw €1,250 which reflects 50% ratio of the Client’s current total capital and vice versa in the event of losses.

 

Handling Fee

In case of any value added tax or any other tax obligations that arise in relation to a transaction performed on behalf of the Client or any other action performed under this agreement for the Client, the amount incurred is fully payable by the Client and in this respect the Client must pay the Company immediately when so requested and the Company is fully entitled to debit the account of the Client with the outstanding amount to be settled (excluding taxes payable by the Company in relation to Company’s income or profits). You understand and agree that, in general, the Company does not collect tax on behalf of any authority in any form or manner.

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.

Without limiting the foregoing, once a client enters into a position and chooses multiple directions (i.e. call/put) on the same asset whilst close to and/or on the same expiry date of said asset, it must be emphasized that only one direction will be considered as turnover with accordance to the calculation of the required trade volume in the Bonus scheme.

By accepting the terms and conditions specified in this agreement, the Client has read and understood and accepted the information uploaded and found on the Company’s main website and is publicly available for all Clients, in which all related commission, costs and financing fees are explained. The Company may amend from time to time at its own discretion all such commission, costs and financing fees. All information relating to the aforementioned amendments will be available on the main website which the Client must review and check for changes during the period that he is dealing with the Company and especially before placing any orders with the Company. The Client is deemed to have seen, reviewed and considered the Company’s commission, costs and financing fees and any changes that the company may make thereto from time to time.

 

16.COMPANY LIABILITY AND INDEMNITY

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 Client’s Orders and/or from which transactions are carried out on behalf of the Client, 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 the Client that have resulted in either losses or reduction (or increase) in the value of the Client’s 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 the Client as these are agreed in this Agreement or in relation to the potential disposal of the Client’s Financial Instruments, the Client is fully liable for these losses/expenses/liabilities/claims whereas the Company bears absolutely no responsibility and it is therefore the Client’s responsibility to indemnify the Company for the aforementioned.

The Company shall not be held liable for any damage caused to the Client as a result of any omission, negligence, deliberate omission or fraud by the bank where the Bank Account is maintained.
The Company shall not be held liable for the loss of Financial Instruments and funds of the Client in cases where the Client’s 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 the Client, of any change in the said information.

The Company makes every effort to ensure that the Banks and institutions to which the Client’s 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 the Client with the extra 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 the Client has read, understood and accepted the information under the title “INVESTOR COMPENSATION FUND” as this information is loaded on the Company’s main 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. However, the Client may not be eligible to qualify for compensation under this scheme.

Without prejudice to any other terms of this Agreement, the Company will not be liable for:

1. Systems errors (Company’s or service providers
2. Delays
3. Viruses
4. Unauthorized use
5. For any act taken by or on the instruction of a Market, Clearing house or Regulatory body.

The Company shall not be liable to the Client 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.

The client further acknowledges that he/she is responsible for reviewing the expiration dates for the binary options, which are located on the Company’s official website.

1. Neither 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 the Client 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 the Client 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.
2. The Client 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 Client’s 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 the Client’s accounts or any Transaction or any matching Transaction on a Market or with an intermediate broker or as a result of any misrepresentation by the Client or any violation by the Client of his obligations under this Agreement (including any Transaction) or by the enforcement of the Company’s rights.
3. The Client acknowledges that he has 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 the Client for a representation that is not set out in this Agreement and that is not fraudulent.

 

17.DURATION OF THE AGREEMENT AND AMENDMENT THEREOF

This Agreement shall take effect upon the first deposit in the Client’s Account, provided that the Company has sent the Client written confirmation for his acceptance and the Client has either accepted in writing or digitally this Agreement. It shall be valid for an indefinite time period until its termination from either the Company or the Client or both.

The Agreement may be amended on the following cases:

1. Unilaterally by the Company if such amendment is necessary following an amendment of the law or if CySEC or any other regulatory authority issues decisions or binding directives which affect the Agreement. In any such case, the Company shall notify the Client of the said amendment either in writing or per electronic mail or through its main webpage and the Client’s consent shall not be required for any such amendment.
2. In cases where the amendment of the Agreement is not required by any change in the legal framework, the Company shall notify the Client of the relevant amendment through its main webpage. If objections arise, the Client may terminate the Agreement within five (5) days from the notification by sending a registered letter and on the condition that all pending transactions on behalf of the Client shall be completed. Upon expiry of the above deadline without the Client having raised any objection, it shall be considered that the Client consents and/or accepts the content of the amendment.

 

18.TERMINATION

The Client has the right to terminate the Agreement by giving the Company at least thirty (30) 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 the Bonus Terms and Conditions and all the provision aforementioned therein, including charges, fees and penalties.

The Company may terminate the Agreement by giving the Client 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:

1. Death of the Client;
2. In case of a decision of bankruptcy or winding up of the Client is taken through a meeting or through the submission of an application for the aforementioned;
3. Termination is required by any competent regulatory authority or body;
4. The Client violates any provision of the Agreement and in the Company’s opinion the Agreement cannot be implemented;
5. The Client 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;
6. The Client involves the Company directly or indirectly in any type of fraud.
7. An Event of Default as defined in Section 18 of this Agreement occurs.
8. If the Company believes that any information provided by the client is no longer current or accurate, or if the client fails to otherwise comply with any term or condition of this Agreement and all rules and guidelines for each service or BDB establishes that you have abused in any way (including but not limited to engaging in a transaction out of market rated) the BDB trading platform.

Upon such violation, the Client agrees to cease accessing services.

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, the Client shall pay:

1. Any pending fee of the Company and any other amount payable to the Company;
2. Any charge and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement;
3. Any damages which arose during the arrangement or settlement of pending obligations. In case of breach by the Client, 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.

 

19.EVENTS OF DEFAULT AND RIGHTS ON DEFAULT

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 18.2 below:

1. the failure of the Client to make any payment when due under this Agreement, including but not limited to initial Margin deposit or any other payment to meet Margin requirements.
2. the failure of the Client 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 Client by the Company.
3. the commencement by a third party of procedures seeking the Client’s bankruptcy (in case of natural person) or the Client’s insolvency or other similar voluntary case of liquidation (in case of legal person) under the applicable laws or any other similar proceedings which are analogous to those pre-mentioned in relation to the Client.
4. the Client takes advantage of delays occurred in the prices and places Orders at outdated prices, trades at off-market prices and/or outside operating hours and performs any other action that constitutes improper trading.
5. the Client dies or becomes of unsound mind (if natural person).
6. any representation or warranty made or given or deemed made or given by the Client 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.
7. 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 Client’s ability to perform any of its obligations under this Agreement.

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 the Client:

1. instead of returning to the Client investments equivalent to those credited to the Client’s account, to pay to the Client the fair market value of such investments at the time the Company exercise such right, and/or
2. to sell such of the Client’s investments as are in the Company’s possession or in the possession of any nominee or third party appointed under or pursuant to this Agreement, in each case as the Company may in its absolute discretion select or and upon such terms as the Company may in its absolute discretion think fit (without being responsible for any loss or diminution in price) in order to realise funds sufficient to cover any amount due by the Client hereunder, and/or
3. to close out, replace or reverse any Transaction, buy, sell, borrow or lend or enter into any other Transaction or take, or refrain from taking, such other action at such time or times and in such manner as, at the Company’s sole discretion, the Company consider necessary or appropriate to cover, reduce or eliminate its loss or liability under or in respect of any of Client’s contracts, positions or commitments, and/or
4. to treat any or all Transactions then outstanding as having been repudiated by the Client, in which event the Company’s obligations under such Transaction or Transactions shall thereupon be cancelled and terminated.

 

20.RESTRICTIONS FOR TRADING ON THE OPTION BUILDER PLATFORM

The Option Builder platform give clients the ability to hedge their investments according to the ladder of percentage scale options on the Option Builder tab as it is from time to time.

The maximum trade amount on the Option Builder is limited while using this option, and clients are restricted to a limited amount of trades while using this feature, unless the client has special approval. All turnovers accumulated while using this feature are calculated by the actual amount risked, not the entire safeguarded amount. BDB has the exclusive discretion regarding the amount of turnover, if any, that will count towards trade volume when qualifying for a withdrawal.

 

21.ACKNOWLEDGEMENT OF RISKS

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 the Client, the Client agrees and acknowledges the possibility of these cases occurring.
The Client is aware and acknowledges 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 he is willing to undertake this risk upon entering into this business relationship. You agree to use the website at your own risk. Without limiting the foregoing, the financial services contained within this site are suitable only for customers who are able to bear the loss of all the money they invest, and who understand the risks and have experience in taking risks involved in the acquisition of financial contracts.

The Client declares that he has read, understood and unreservedly accepted the following:

1. Information of the previous performance of a Financial Instrument does not guarantee its current and/or future performance. Historical data are not and should not be considered as reflective of the future returns of any Financial Instrument.
2. In cases of Financial Instruments traded in currencies other than the currency of the Client’s country of residence, the Client is running the risk of a change in the exchange rate that will decrease the value and price of the Financial Instruments and in effect their performance.
3. The Client must be aware that he is running the risk of losing all of his funds invested, and must only purchase Financial Instruments if he is willing to do so, if happened. Further, all expenses and commissions incurred will be payable from the Client.

The maximum loss that may be incurred by any customer is the amount of money paid by them to the Company including rolling fees for day trade deals.

Each financial contract purchased by a customer via this site is an individual Agreement made between that customer and the Company, and is not transferable, negotiable or assignable to or with any third party.

Market information

The Company may make available to you through one or more of its services a broad range of financial information that is generated internally or obtained from agents, vendors or partners (“Third Party Providers”). This includes, but is not limited to, financial market data, quotes, news, analyst opinions and research reports, graphs or data. (“Market Information”).

Market Information provided on these web pages is not intended as investment advice. The Company does not endorse or approve the market information, and we make it available to you only as a service for your own convenience. The Client will not “deep-link”, redistribute or facilitate the redistribution of Market Information, nor will you provide access to Market Information to anyone who is not authorized by the Company to receive Market Information.

The Client acknowledges and accepts that there may be other risks which are not contained in Section 19 and that he has read and accepted all information under the titles “RISK DISCLAIMER” as this information is loaded on the Company’s webpage public and available to all Clients.

 

22.CONFIDENTIAL INFORMATION

The Company does not have any obligation to disclose to the Client any information or take into consideration any information either when making any decision or when it proceeds to any act on behalf of the Client, unless otherwise agreed and stated in this Agreement and where this is imposed by the relevant Laws and Regulations and directives in force.

The Company will never disclose any private or otherwise confidential information in regards to our clients and former clients to third parties without the express, written consent of our clients, except in such specific cases in which disclosure is a requirement under law, or is otherwise necessary in order to perform verification analysis on the client’s identity for the purposes of safeguarding their account and securing their personal information.

The Company will handle all of Client’s personal data according to the relevant Laws and Regulations for the protection of Personal Data.

Client has read and accepted the terms of the “PRIVACY POLICY” that the Company has adopted as this policy is mentioned in detail in the Company’s main website public and available to all Clients.

 

23.NOTICES

Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other communications to be given to the Company by the Client under the Agreement shall be in writing and shall be sent to the Company’s mailing address as indicated in Section 2 of this Agreement or to any other address which the Company may from time to time specify to the Client 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 the Client. br The Agreement is personal to the Client who does not have the right to assign or transfer any of his rights and/or obligations hereunder.

24.RECORDING OF TELEPHONE CALLS

The Client acknowledges that the Company might record telephone conversations between the Client 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 >

 

25.COMPLAINTS PROCEDURE

The Company is obliged to put in place internal procedures for handling complaints fairly and promptly. The client may submit a complaint to the Company via email to [email protected].

Once your complaint has been submitted successfully, the Customer Support Department of the Company will address and investigate the complaint. We will acknowledge receipt of your complaint within five (5) days from its receipt on our system, and will provide you with a reference number of your complaint. For your convenience, please be sure to use this reference number in all future contact with the Company and/or CySEC and/or Financial Ombudsman regarding the specific complaint.

Your complaint will be carefully reviewed, and we will investigate the circumstances surrounding your complaint and will do our best to resolve it in a timely manner. We shall make every effort to provide you with the outcome of our investigation within two (2) months from the date of submission of the complaint. During this investigation process, we will attempt to keep you posted as to its progress. One of our representatives may contact you directly in order to obtain, if needed, further clarifications, information and/or evidence relating to the complaint. For the efficient handling of this claim, we require your full cooperation and attention in order to achieve a possible resolution in the shortest time possible.

In the event that we cannot resolve your complaint within the two (2) month designated period, we will notify you of such. This notice will indicate the causes of the delay and when we hope our investigation will be completed. We will attempt to provide you with an outcome of the internal investigation no later than one (1) month from the issuing of the notice, depending on the complexity of the complaint and your assistance. Please take note that the Company shall consider your complaint finalized and closed in case you fail to respond to our emails or phone calls within the period of three (3) months from the date of submission.

You will be notified with the final outcome of the investigation, along with an explanation of the Company’s position and any remedy measures we intend to take (when applicable).

You may submit your complaint to the Financial Ombudsman of the Republic of Cyprus (http://www.financialombudsman.gov.cy) and seek mediation for possible compensation, if you are not pleased with Company’s suggested resolution.

You may also maintain your complaint with the CySEC (http://www.cysec.gov.cy), however please note that the CySEC does not have restitution powers and therefore does not investigate individual complaints.

 

26.CONFILICT OF INTEREST

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 clients are treated fairly and at the highest level of integrity and that their interests are protected at all times.

The client acknowledges and accepts that he has read and accepted the “Conflicts of Interest” document, which was provided to him during the registration process and which is uploaded on the Company’s official website.

 

27.INTEREST

The funds credited to the client’s account by the Company shall not bear interest.
By accepting this agreement the client gives his express consent ad waives any of his rights to receive any interest earned on his funds held on the bank accounts of the Company and consents that the Company will benefit from such interest earned to cover registration / general expenses / charges / fees and interest related to the administration and maintenance of the bank accounts.

28.GENERAL PROVISIONS

The Client acknowledges that no representations were made to him by or on behalf of the Company which have in any way incited or persuaded him to enter into the Agreement.
In case of joint-trading Accounts for two or more persons who will jointly be considered as Company’s Client, the Client’s obligations under the Agreement shall be joined and several and any reference in the Agreement to the Client shall be construed, where appropriate, as reference to one or more of these persons. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client.
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 the Client 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 the Cyprus Securities and Exchange Commission (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 the Client.
The Client 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.

The Client agrees not to delete any copyright notices or other indications of protected intellectual >

The Client agrees not to upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual > The Client shall notify the Company immediately upon becoming aware of the commission by any person of any of the aforementioned activities and shall provide the Company with reasonable assistance with any investigation it may conduct in light of the information provided by the Client in this respect.

Use of the trademarks or any other content of the web site, except as provided herein, is strictly prohibited.

It is important that the Client is fully aware of the following point:
A Day-Trading position may be extended to the following day, as presented to you on the site. Such extension is subject to a Renewal Fee (Rolling Fee) at the rate and time as specified on the site.
The Company via its trading platforms shall collect such Renewal Fee from the free balance in the Client’s account held with the Company. In the event there are not sufficient funds in the Client’s free balance to cover such fee(s), the Client herby agrees that the Company may charge, at its sole discretion, such fee(s) from his/her credit card(s). Please note that the minimum charge from a credit card is USD 3.00.

Accordingly, any surplus balance, after paying the Renewal Fee(s) will be credited to the Client’s balance. If the Company is unable to collect such fee(s), the Company reserves the right to close part, or all, of the Client’s open positions.

The Client shall be liable for promptly paying all Renewal Fees fee(s), even if all margins previously deposited by him/her have been lost.

The result of the above is that even a slight fluctuation of the market could mean substantial gains when these fluctuations are in the Client’s favor, but that could also mean considerable losses if the fluctuations are to the Client’s detriment. No system exists that could assure the Client that transactions on the foreign currency market should bring you great benefits, nor is it possible to guarantee, that the Client’s transactions will yield favorable results.

The amount the Client could lose in a transaction carrying limited risk will never be more appreciable than that which the Client can lose in transactions having no pre-determined limit on loss. Nevertheless, even though the extent of the losses could be subjected to an agreed upon limit, the risk of incurring losses could be higher, and that loss could occur in a relatively short period of time.
It is possible that some unfavorable situations on the market could occur, in a relatively short period of time, resulting in the TOTAL LOSS of the Client’s investment. Since deposit of an additional guarantee is not obligatory in this case, the Company reserves the right to close the outstanding balances without the Client’s consent.

The risk information presented here does not reflect all of the risks as well as other important aspects intrinsic to the stock market. Therefore, before starting to trade, the Client should learn the specifics of trading on stock markets in detail. The Client should conclude an Agreement for opening and/or closing transactions on the market only if he/she is absolutely sure of the size of its possible risk and consequences, and if he/she understands in detail the scope and range of his/her rights and obligations.

 

29.APPLICABLE LAW, JURISDICTION

This Agreement and all transactional relations between the Client 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.

• The Company may use a Third Party in a country outside European Economic Area and where the holding and safekeeping of financial instruments is not regulated. The Company will only do so when the nature of the financial instruments or of the other services provided for the Client requires them to be deposited with such a Third Party or where the Company consider that this course of action is consistent with the Company’s obligations and services to the Client.