1.1. This Service Agreement has been made between SMARTEX INTERNATIONAL LTD., registered at 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles, registration number 144540 (hereinafter – Company), and an individual who filled in the registration form on the Company’s website or in the trading platform and accepted the terms of this Service Agreement and of the appendices hereto at the moment of registration (hereinafter – Client). The Company and the Client are collectively referred to as the Parties. The Paying Agent(s) that the Company hires to carry out Non-trading Operations under this Agreement shall also be Party (Parties) to this Agreement. Information about the Paying Agent(s) is specified in this Agreement . The Company, the Paying Agent(s) and the Client shall be collectively referred to as the "Parties".
1.2. The following documents are an integral part of this Service Agreement (appendices to this Service Agreement): a. Regulation on trading operations; b. Regulation on non-trading operations and KYC/AML policy; c. Risk disclosure; d. Other documents posted in the Legal information section on the Company’s Website or in the trading terminal. The Company is entitled to change the list, the titles and the contents of the appendices hereto unilaterally. The Company is entitled to add new appendices hereto or to exclude the existing ones without making any amendments to this clause hereof. The text of the Service Agreement and of the appendices hereto is referred to as the Agreement.
1.3. The Agreement is an offer posted on the Company’s Website that shall be treated as an offer to enter into this Agreement on the terms set forth herein. The posted offer is not public. The Company at its sole discretion is entitled to refuse to enter into an Agreement with anyone having explained the reasons for refusal or without any explanations, or, if registration took place, to cease contractual relations and to block access to the trading terminal. The Client’s registration on the Company’s Website or in the trading terminal is considered to be unconditional acceptance of the terms hereof. After the Company has received the Client’s payment to his/her trading account, each of the Client’s transactions using the trading terminal, the personal area becomes the subject hereof.
1.4. The Client shall read the terms hereof carefully. By accepting the terms hereof, the Client agrees to the terms of all appendices hereto listed above, confirms that he/she is of legal age, legally capable and is not a resident of a state where making binary option transactions may be recognised as illegal. The Client also represents and warrants to the Company that:
1.4.1. All information provided during Client registration as well as during the process of carrying out the Agreement, is true, accurate, reliable and complete in all respects, and the Client completed the registration form himself;
1.4.2. The Client has the powers necessary to enter into the Agreement, to submit requests and give orders, and to fulfil his/her obligations pursuant to the terms hereof;
1.4.3. The Client will personally perform all trade and non-trade operations on his own behalf and at his own expense, and he will not use borrowed funds received from other Company clients or from third parties to perform transactions. The Client shall be guided by the principles of integrity, honesty and rationality. The Client shall not carry out actions in coordination with other Clients of the Company that are aimed at causing the Company harm. The Client shall not exploit the technical features of the system that is used to update the stream of quotes in the trading terminal, and Client shall not take advantage of software bugs, defects, and vulnerabilities that Client discovers in the trading terminal for the purpose of deriving a profit. The Client shall not use unscrupulous and dishonest methods and techniques for completing transactions (operations) with the Company. The Client shall not use insider, confidential or any other information to obtain an unfair advantage of any kind when conducting transactions with the Company and/or to cause the Company harm.
1.4.4. The Client will comply with legal norms, in particular international acts aimed at preventing illegal trade, financial fraud, money laundering and legalisation of criminal proceeds; 1.4.5. The Client will not use the trading terminal and the Website to aid in illegal financial activities and any other illegal operations;
1.4.6. Money transferred by the Client to the Company’s account is of legal origin, the Client legally owns the money and is entitled to use it; the Client’s account will not be replenished with funds from bank accounts and electronic wallets owned by third parties, and the Client will not transfer funds from its accounts to the bank accounts or e-wallets of third parties;
1.4.7. All actions of the Client performed pursuant to the Agreement will not violate any law, regulation, legislation, by-laws and rules applicable to the Client or in the jurisdiction where he/she resides or provisions of any other agreement binding for the Client or involving any assets of the Client.
1.4.8. The Client will use devices belonging to him to perform operations. He will connect to the trading platform using communications channels and devices that belong and are registered to the Client (including telephone numbers, IP addresses, etc.). The Client will not use third-party devices, anonymizers or other devices and third-party tools, nor will he use devices and tools that make it possible to hide the Client's actual IP address, true location, and place of connection to the trading platform.
1.4.9. The client is not a federal or municipal civil servant, an employee of a federal or municipal institution, or an employee of a federal or municipal organization or of an organization in whose capital the state has dominant participation. The client is not a politically exposed person or a family member or relative of a politically exposed person. The client is not a person closely associated with a politically exposed person. The client is not a person associated with the United States or other state in which the Company does not do business. The Company construes and uses terms used in this clause on its own at its discretion according to the norms of international law and/or the law of a particular country, generally accepted terms and definitions, and ordinary business customs.
1.5. The subject of the Agreement is determination of the general conditions of performing transactions (deals) by the Parties, the contents and procedure thereof being set forth herein. The Company at its sole discretion sets and may change the essential conditions of transactions (deals), may set restrictions on the number of deals made simultaneously and restrict the number of deals that the Client may perform within the period of time set by the Company.
2.1. Asset – an underlying financial instrument of the binary option. An asset may be represented by company shares, stock index, currency pair (the rate of a currency exchange into another currency), goods quoted with commodity exchange, commodity options, etc.
2.2. Balance of the Client’s Account – the amount of money in the Client’s account.
2.3. Binary Option – a derivative financial instrument (deal) consisting of two operations: Deal Making and Deal Closure, as a result of which the Client either receives Income or loses the Deal Amount. However, the Company does not allow the Client to assume obligations in excess of the Deal Amount (the Company will not provide the Client with leverage). The Company makes option deals (High/Low option) with the Client, the target level of which is equal to the asset rate at the moment the deal is made. Payment is made if the rate change direction High is selected and at the moment the option expires the asset rate is higher than the target level, or if the rate change direction Low is selected and at the moment the option expires the asset rate is lower than the target level.
2.4. Bonus – virtual money transferred by the Company to the Client’s Account if the Client complies with the conditions set forth by the Company. When the Client performs trading operations, money transferred by the Client is used first, and only after it is fully spent is the Client entitled to use the Bonus to perform further trading operations. As a general rule, the Client is not entitled to transfer the Bonus amount to the Client’s External Account. If the Client transfers to the Client’s External Account money previously transferred to the Client’s Account, the Company is entitled to deduct from the Client’s Account all of the amount of previously accrued Bonuses. The Company is entitled to set a minimum trading turnover as well as other conditions, and if the Client complies therewith the Bonus is not deducted from the Client’s Account and can be withdrawn to the Client’s External Account. The rules governing the crediting, withdrawal, and use of Bonuses, the conversion of Bonuses into real money, the rules governing the performance of other operations involving Bonuses and Client funds, which govern how the Bonus was awarded to the Client, may be published by the Company on the Website. In addition to Bonuses, the Company may also offer Clients risk-free transactions and pursue other ways of attracting and retaining customers; when the Client enters into such a risk-free transaction, he or she either receives earnings (if the Client correctly predicted the direction of change in how an asset is trading) or the amount of the transaction is refunded to the Client (if the Client did not correctly predict the direction of change in how an asset is trading).
2.5. Company’s Website – a website on the Internet located at olymptrade.com (domain name) as well as other websites on the Internet to which the Company refers to in the Agreement or on the Company Website.
2.6. Client’s External Account – the Client’s settlement account in a financial institution, account (wallet) in an electronic payment system.
2.7. Option Expiration Time – the moment when the condition of the Income payment option is checked.
2.8. Trading Hours – the time when trading operations with respect to an asset may be made.
2.9. Funds Withdrawal – transfer of money from the Client’s Account to the Client’s External Account.
2.10. Income – fixed remuneration credited to the Client’s Account if the binary option condition is fulfilled. The Income amount is determined at the time that the Deal is made. Income is transferred into the Client’s account from the Company’s guaranteed (compensatory, special) fund (reserve fund), which is formed in the manner determined by the Company at its own expense.
2.11. Deal Making – a trading operation where essential conditions of the binary option deal are agreed by the Client and the Company. After it is made, the binary option deal is open.
2.12. Deal Closure – a trading operation where an open binary option deal is liquidated. It is performed if deal conditions are fulfilled at the time of option expiration or on the Client’s initiative. Early deal closure means deal closure on the Client’s initiative before it is closed at the time of option expiration. Deal closure on the Client’s initiative is performed only if it is technically possible for the Company and is the Company’s right, but not obligation.
2.13. Extraordinary Situation – market conditions that differ from normal ones and are described in the Regulation on trading operations.
2.14. Payment Coefficient – percentage coefficient that determines the Income amount set by the Company depending on the option asset and other conditions of the binary option.
2.15. Asset Rate – price for one unit of the Asset.
2.16. Log Entry – a record in the database made by the Company Server that, with accuracy to the second, logs all Client requests and orders as well as the result of their processing. Each Client contact with the trading terminal and personal area is recorded in Log Entries. This server data is the main source of information and is recognised by the Parties as evidence in case of disputes related to fulfilment of the Agreement. Information from the Log Entry of the Company Server shall prevail over other arguments when considering a dispute, in particular over information from the Log File of the Client’s trading terminal. The Company reserves the right not to maintain Log Entries.
2.17. Rate Change Direction – an essential condition of a binary option deal determining the deal payment. Rate Change Direction can be High or Low.
2.18. Non-trading Operation – any operation of the Client dealing with transfer of funds to the Client’s Account or withdrawal of funds from the Client’s Account.
2.19. Operations – Trading and Non-trading operations of the Client.
2.20. Open Deal – a binary option deal after deal making and before deal closure, for which it is not determined yet whether a payment will be made.
2.21. Payment Agent – a third party used by the Company to transfer money to and/or from the Client’s Account. The Company's Paying Agent is WALLFORT LIMITED, which is registered at the following address: Kypranoros, 13, Evi Building, 2nd floor, office 201, 1061, Nicosia, Cyprus under registration number HE 364695. Its office and correspondence address is: 42E Arch. Makariou III Avenue, Matina Building, 3rd Floor, Office 301 B, 1065 Nicosia, Cyprus. The Company is responsible for the actions of the Paying Agent as though they were its own actions. Claims/complaints/statements may be submitted to the Paying Agent at the addresses specified in this clause in accordance with the procedure prescribed by Section 5 of this Agreement.
2.22. Price Feed – a succession of prices shown in the Trading Terminal.
2.23. Profitable Zone – the state of an open binary option deal if income payment for the deal is possible at the current deal asset rate.
2.24. Payment service provider - a company that provides funds transfer services.
2.25. Recurring payment – a periodically repeating operation to replenish the Balance of the Client's account without requiring the latter to reenter his or her credit card information. After the Client completes his or her first operation to replenish the Balance of his or her account, the Client shall be presented with the option of avoiding having to reenter his or her credit card information again in the future. The Client needs only to confirm each operation to replenishment the Balance of his or her account.
2.26. Deal – an agreement between the Client and the Company under which the Client shall pay the Deal Amount and the Company undertakes to pay fixed Income if binary option conditions selected by the Client are fulfilled.
2.27. Company Server – the Company’s software used to process and store information about clients’ requests for trading and non-trading operations, to provide to the Client real-time information about trading in financial markets, to account for trading and non-trading operations, to control fulfilment of deal conditions and restriction of trading operations, and to determine the financial result of deals.
2.28. Withdrawal Method – one of the Funds Withdrawal methods offered to the Client that is published in the trading terminal and in the personal area.
2.29. Deal Amount – the amount paid by the Client to the Company when the deal is made. The Client’s income from a binary option deal in case of fulfilment of the deal condition will be directly proportional to the deal amount.
2.30. Company’s Account – the Company’s settlement account in a financial institution, account (wallet) in an electronic payment system, and other accounts, including accounts of Payment Agents.
2.31. Essential Conditions of the trading operation (essential conditions of the deal) – the conditions determining payment of income from the deal to the Client by the Company.
2.32. Client’s Account (Trading Account) – a special account in the Company’s accounting system where funds transferred by the Client for making binary option deals is accounted for, from which the deal amount is deducted when the deal is made, and to which income is credited when the deal is closed. The Client is allowed to have only one client account. If this rule is violated, the Company is entitled to refuse to provide further services to the Client, to terminate this Agreement and to disable further performance of operations without giving reasons and without paying funds from the Client’s account.
2.33. Trading Operations – procedures for making and closing binary option deals between the Company and the Client. Trading operations are made at the Company’s place of registration. No physical asset delivery is performed within trading operations. Deal amounts related to trading operations are deducted from the balance of the Client’s Account immediately after the deal is made. Income received from trading operations is credited to the Client’s Account immediately after the deal is closed.
2.34. Trading Terminal – software used by the Client to get real-time information about trading in financial markets, to perform trading and non-trading operations and to receive messages from the Company. Login to the Trading Terminal is protected by a password that the Client sets himself/herself during registration on the Company’s Website. All orders given through the Trading Terminal are considered to be given personally by the Client. Clients from states where it is forbidden by law to make binary option deals and deals with other off-market derivative financial instruments as well as employees, partners, agents of the Company and their relatives are prohibited from using the trading terminal. The part of the trading terminal that the Client can use to carry out non-trading operations in this Agreement may be referred to as the Personal Account.
2.35. Unprofitable Zone – the state of an open binary option deal if income payment for the deal is impossible at the current deal asset rate.
2.36. The "1-Click” service allows the Client to replenish the Balance of his or her accounts using the Client’s bank (payment) cards without having to reenter the cardholder’s bank (payment) card details.
2.37. Target Level – the asset price that will or will not be achieved for the option condition to be fulfilled and deal payment to be made.
2.38. Cookies – a small set of data, including an anonymous unique identifier that is set to the web browser of the Client’s computer or mobile phone (hereinafter referred to as a device) from the server (website) of the Company and stored on the hard disk of the Client’s computer. The Client may set a web browser configuration that will block storage of cookies on his/her computer. When the Company’s website is visited, viewed pages and cookies are downloaded to the hard disk of the Client’s device. Cookies stored on the hard disk may be used for anonymous identification in case of a subsequent visit to the Company’s website by the Client and for determination of website pages that are most popular among our Clients. However, for confidentiality and security reasons the Company does not store personal data of Clients (including name, personal data, email, etc.). Cookies stored on the hard disk of the Client’s device help the Company to create an intuitive and well-functioning website for Clients of the Company, thus enabling us to learn the preferences of our Clients.
Terms used in the text of this Agreement that are not defined in this section shall be construed in accordance with usual business customs and practices applicable in the field of carrying out deals with derivative financial instruments.
3.1. To communicate with the Client, the Company may use:
• e-mail;
• fax;
• telephone;
• SMS;
• letters sent by post;
• different types of messages sent to the Client in the trading terminal, personal area, browser window, etc. (push notifications, reminders, service messages, etc.)
• announcements on the Company’s Website.
3.2. For prompt contact with the Client in order to resolve issues related to the Client’s transactions, the Company will use the contact information provided by the Client during registration or amended pursuant to cl. 4.4. hereof. The Client agrees to receive messages from the Company at any time.
3.3. Any correspondence (documents, notices, confirmations, announcements, reports, etc.) is considered to be received by the Client:
1) in one (1) hour if sent to the Client’s e-mail address;
2) immediately if sent by fax;
3) immediately after a telephone call is over;
4) immediately if sent by SMS;
5) in seven (7) calendar days if sent by post;
6) immediately after an announcement is posted on the Company’s Website.
3.4. The Client is entitled to contact the Company by e-mail at help@olymptrade.com or to use other e-mail addresses and telephone numbers specified in this Agreement and on the Company’s Website.
3.5. The Client understands and agrees that in case of inappropriate behaviour by the Client during conversations with a Company employee, the Company reserves the right to unilaterally terminate this Agreement.
3.6. The Company is entitled to use contact information provided by the Client to send informational, marketing, and advertising materials, service messages and to resolve other tasks. The Company will determine the frequency of sending messages to the Client at its sole discretion. If the Client wishes to stop receiving informational (and other) messages from the Company, he/she must unsubscribe by pressing the Unsubscribe link (if it is available in the message format) or contact the support service.
4.1. The Client undertakes to provide in the course of registration correct and reliable information for identification in accordance with requirements of the Client registration form.
4.2. After successful registration, the Client will be granted access to the trading terminal, the opportunity to transfer funds to the Client’s Account (placing a deposit in the Client’s Account to be able to make binary option deals) and to perform other operations.
4.3. The Client shall, in a timely manner, inform the Company about any changes to his/her identification and contact information (within seven (7) days after such change) by making the respective changes in the trading terminal or in another way suggested by the Company. To identify the Client, the Company is entitled to request any Client’s identification document (including the documents, which proves the Client’s identity, residence address; the documents, which proves the financial condition of the Client, and any other documents at the Company’s discretion). The Company reserves the right to suspend trading and/or non-trading operations related to the Client’s Account if it is discovered that the Client’s identification information is incorrect or questionable or if the Client fails to provide the requested documents. The Company has the right to block the Client's access to the trading terminal until the completion of the Client identification procedure. The Company is entitled to insist on the Client’s authorization through the personal meeting with the legal representative of the Company, providing all the documents listed by the Company at its own discretion.
4.4. Login to the trading terminal is password protected.
4.4.1. The Client confirms and agrees that access to the trading terminal will be protected with a password set by the Client himself/herself during registration. The Client is not entitled to transfer the trading terminal password to third persons.
4.4.2. The Client assumes full responsibility for password protection and prevention of unauthorised access of third persons thereto.
4.4.3. All orders made through the trading terminal with the Client's password shall be considered to have been executed by the Client unless otherwise specified by the Company.
4.4.4. Any person who obtains access to the trading terminal by entering the Client's password shall be identified as the Client unless otherwise specified by the Company.
4.4.5. The Company will not be liable for any losses the Client may suffer in case of theft, loss or disclosure of the password to third persons, as well as in case of unauthorised use of registration data by third persons.
4.5. The Client is entitled to change the password to the trading terminal himself/herself or use the procedure for password recovery set by the Company.
5.1. The Parties have agreed that they will make every effort to settle all disputes between the Company and the Client related to transactions, calculation of payments and other actions hereunder by means of negotiations.
5.2. If a dispute arises, the Client is entitled to submit a claim/complaint to the Company, as well as to send a pronouncement/notice to the Company. All claims/complaints/pronouncements/notices related to operations performed by the Client shall be submitted in accordance with the following requirements:
5.2.1. claims/complaints/pronouncements/notices shall be submitted in writing;
5.2.2. claims/complaints/pronouncements/notices shall contain the following information: Surname, first name, patronymic (if any), Client’s e-mail, Client’s Account Number, date and time of the dispute, brief description of the dispute, Client’s demands; claimed amount and justified calculation thereof (if the claim is subject to monetary evaluation); circumstances that are the grounds for the claim and evidence confirming such circumstances, including reference to the clause of this Agreement (appendices hereto) that was violated in the Client’s opinion; list of documents and other evidence attached to the claim (complaint) attested by the Client; other information necessary to settle the dispute;
5.2.3. claims/complaints/pronouncements/notices shall be sent by the Client within five (5) business days after the event that was the basis for submission of the respective claim (complaint). The Client agrees that a delay in submission of the claim (complaint) is grounds for refusal to consider it;
5.2.4. claims/complaints/pronouncements/notices may be sent by e-mail to claim@olymptrade.com, by registered or certified mail, or by using other means of communication that ensure registration of the fact of their sending (including fax) or may be handed in with acknowledgement of receipt signed by the recipient.
Claims/complaints/pronouncements/notices made and sent otherwise will not be considered.
5.3. Claims/complaints/pronouncements/notices shall not contain:
a) emotional evaluation of the dispute;
b) offensive statements addressed to the Company;
c) profanity.
5.4. To respond to the claim/complaint/pronouncement/notice, the Company is entitled to request additional documents and information from the Client. The claim/complaint/pronouncement/notice is considered on the basis of data declared by the Client and log entries from the Company Server. Log entries from the Company Server shall always prevail over other evidence and proof. The Company is not liable for faulty deals and will not compensate any financial and moral damages suffered by the Client with respect to what the Client considers to be lost profit. When considering disputes, the Company will not take into account the Client’s references to information from other companies and websites.
5.5. The Company is entitled to reject the claim/complaint/pronouncement/notice if the terms of this section are violated.
5.6. The claim/complaint/pronouncement/notice shall be considered within 5 business days after submission.
5.7. If the Client’s claim/complaint/pronouncement/notice has not been settled by the Company by means of the above dispute settlement procedure, the Client shall be entitled to submit a claim to the Financial Commission (www.financialcommission.org).
5.8. In addition to the dispute settlement procedure set forth in clauses 5.2.-5.7., the Client is entitled to submit a claim to court, having first submitted the claim to the Company in accordance with the above procedure. The procedure for dispute settlement is considered to be complied with if: a) the form and the contents of the claim comply with the requirements of clauses 5.2.1., 5.2.2., 5.2.3.; b) the claim is sent to the Company’s registration address; c) the Client has a confirmation of claim receipt by the Company; d) the response period for the claim has expired. The claim shall be answered within sixty (60) calendar days after it is received by the Company.
5.9. In case of any disputes, the Company reserves the right to fully or partially block operations related to the Client’s Account until the dispute is settled or until the Parties come to an interim agreement.
6.1. This Agreement is made in the Republic of Seychelles (hereinafter – country of the Company’s registration) and is governed by the legislation of the country of the Company’s registration. The services hereunder are rendered in the territory of the country of the Company’s registration.
6.2. The Client expressly:
a) agrees that the courts of the country of the Company’s registration have exclusive jurisdiction to conduct any legal proceedings with respect to this Agreement;
b) submits to jurisdiction of the courts of the country of the Company’s registration;
c) waives any appeals with respect to proceedings in any of such courts;
d) agrees to make no claims regarding forum non conveniens and not to declare that the forum state has no legal jurisdiction over the Client.
7.1. Having reasonable grounds, the Company is entitled to state that it faces force majeure circumstances (circumstances of insurmountable force). The Company will take proper steps to inform the Client about the occurrence of force majeure circumstances. Force majeure circumstances include (but are not limited to):
a) any action, event or phenomenon (including, but not limited to, any strike, mass rioting or civil unrest, terrorist attacks, wars, natural disasters, accidents, fires, floods, storms, blackouts, communication, software or electronic equipment failures, malfunction of any type of hardware or software, instability in the stream of quotes, any interruptions or failures in the liquidity provider service, etc.) that, in the reasonable opinion of the Company, resulted in destabilisation of the market or markets of one or several assets (instruments);
b) suspension, liquidation or closure of any market or absence of any event on which price quotations were based by the Company, or setting restrictions or special or non-standard trade conditions in any market or with respect to any such event.
7.2. If the Company establishes the occurrence of a force majeure circumstance, the Company is entitled (without prejudice to other rights of the Company) to perform any of the following actions without prior written notice and at any time:
a) cancel any or all open deals of the Client;
b) suspend or alter the application of one or all provisions of the Agreement for the period when the existence of the force majeure circumstance makes it impossible for the Company to fulfil such provisions;
c) perform or, vice versa, not perform any actions with respect to the Company, the Client and other clients if the Company finds it reasonable in these circumstances on sufficient grounds.
7.3. The Company will not be liable for non-fulfilment (improper fulfilment) of obligations if it was caused by circumstances of insurmountable force.
8.1. Liability of the Parties hereto is determined by provisions of the Agreement and of the appendices hereto.
8.2. The Company shall be liable only for real damages caused to the Client as a result of deliberate non-fulfilment of its obligations hereunder by the Company. The Company is just as responsible for the actions of its employees, departments, and payment agents as it is for its own actions.
8.3. The Client shall be liable to the Company for damages suffered by the Company through the Client’s fault, including:
a) for damages caused as a result of the Client’s failure to provide (or delayed provision of) any documents that shall be provided to the Company pursuant to this Agreement and to the appendices hereto as well as for damages caused to the Company as a result of any falsification of information contained in the documents provided by the Client,
b) for damages caused to the Company by misuse of services provided by the Company to the Client, in particular for damages (losses) caused to the Company by use of robotised and automated algorithms for making transactions and/or special software, devices, methods, and techniques that violates and contributes to violation of the principles of good faith and fairness when making transactions,
c) for damages caused by the Client as a result of concerted actions with other clients of the Company and/or persons affiliated with the Client aimed at causing losses to the Company, and for other damages caused to the Company by the Client through the use of other unfair and dishonest methods and ways of making deals (transactions) with the Company, including the use of Bonuses. Regardless of the situation, persons affiliated with the Client shall be defined as persons who are relatives of any degree of kinship to the Client; family members, partners or persons who are connected by any type of relationship to the Client; persons residing at the same address as the Client; persons using the same facilities as the Client; persons hired as a Company Client by the same Company partner or Client; as well as persons engaged in any joint activity whether under the guise of a legal entity or not. The Company reserves the right to expand the list of situations and criteria by which the Client and third parties may be recognized as affiliated,
d) if there are sufficient grounds to assume that the Client attempted to illegally use the software provided by the Company and money transferred to the Company’s Account,
e) for damages sustained by the Company as a result of profiting from the use of technical exploits in updating the stream of quotes in the trading terminal, as well as as a result of profiting from the exploit of software bugs and vulnerabilities in the trading terminal,
f) for damages sustained by the Company due to the Client’s use of Company insider, confidential, as well as any other information that gave the Client any type of advantage in concluding transactions with the Company.
The Company is entitled to deduct the aforementioned losses from the Client’s Account and/or accounts of other persons (provided that technical and other equipment held by the Company has determined that such accounts actually belong to the Client (or the Client’s criminal associates)). The Company is also entitled to block further transactions of the Client in the trading terminal and personal area with respect to which the Company has sufficient grounds and suspicions to qualify the actions (in particular those performed along with other clients) as aimed at causing damage to the Company, to debit funds from the Client’s account in favour of the Company.
8.4. If the Client violates the terms hereof, the Company, at its own option, is entitled to:8.5. If the Client breaches the representations and warranties listed in clauses 1.4. and 1.4.1. – 1.4.9. of the Agreement, the Company may cancel the contract, deem any Client transaction invalid, close one or all of the Client’s accounts at any time at its sole discretion, stop providing service to the Client, and return all funds contributed by the Client or not at its discretion.
8.6. The Company shall not be liable to the Client for any damages, losses, lost profit, lost opportunities (due to possible market fluctuations), expenses or damages incurred by the Client as a result of making deals pursuant to the terms hereof.
8.7. The Company shall not be liable in case of a discrepancy between the information represented in the Client’s trading terminal and the information on the Company Server in the course of determining the financial result of the Client’s deals. To eliminate such discrepancy, the Company will adjust the data in the trading terminal in accordance with the information available on the Company Server.
8.8. The Company shall not be liable for the Client’s damages if such damages resulted from hacker attacks, accidents (failures) of computer networks, communication networks, power lines or telecommunication systems, etc. directly used for reconciliation of essential conditions of the Client’s transactions or ensuring of other procedures of the Company’s functioning that occurred through no fault of the Company.
8.9. The Company shall not be liable for technical failures and/or interruptions in trading terminal operation that occurred as a result of hacker attacks, accidents (failures) of computer networks, communication networks, power lines or telecommunication systems, etc. or for the Client’s losses resulting from such failure and/or interruption.
8.10. The Company shall not be responsible for the results of transactions that the Client decided to make on the basis of analytical materials provided by the Company and/or third persons. The Client is informed that transactions made hereunder bear the risk of not receiving the expected income and risk of loss of a part of or the whole amount transferred by him/her to the Client’s Account. The Client acknowledges that if there is no fraud, deliberate non-fulfilment of obligations or gross negligence on the part of the Company, the Company shall not be liable for any losses, expenses, costs and damages of the Client resulting from inaccuracy of information provided to the Client, including, but not limited to, information about the Client’s trading operations. While the Company reserves the right to cancel or close any of the Client’s deals in the cases specified herein, all transactions made by the Client as a result of such inaccurate information or error will, nevertheless, remain in force and are binding for both the Client and the Company.
8.11. The Company shall not be liable for any losses the Client may suffer in case of theft, loss or disclosure of his/her password to the trading terminal to third persons. The Client assumes full responsibility for password protection and prevention of unauthorised access of third persons thereto.
8.12. The Company shall not be liable for non-fulfilment (improper fulfilment) of the obligations hereunder if it was caused by circumstances of insurmountable force (force majeure).
8.13. The Company shall not be liable for any indirect, special, arbitrary, or punitive damages suffered by the Client, including, but not limited to, lost profit, loss of expected savings or loss of income, even if the Client was informed by the Company about the possibility of such damages. Moral damages are not subject to reimbursement.
9.1. This Agreement shall come into force upon its conclusion (registration of the Client on the Website or in the Company’s trading terminal) and will be valid for an unlimited period of time.
9.2. Either Party may terminate this Agreement unilaterally:
9.2.1. The Agreement is considered to be terminated on the initiative of the Company from the date specified in the notice sent by the Company to the Client;
9.2.2. The Agreement is considered to be terminated on the initiative of the Client upon expiry of five (5) business days after receipt by the Company of the Client’s written notice containing the statement on termination of the Agreement, provided the Client has no unfulfilled obligations hereunder. The Client should send the Termination Notification to the Company's address, provided in 1.1 Clause of the current Agreement, or to email address help@olymptrade.com.
9.3. This Agreement is considered to be terminated with respect to the Parties from the moment that mutual obligations of the Client and of the Company with respect to previously made transactions are fulfilled and all debts of each Party are repaid.
10.1. Amendments and supplements to this Agreement and to the appendices hereto shall be made by the Company unilaterally. All amendments and supplements made by the Company and not related to the circumstances specified herein shall come into force on the date specified by the Company.
10.2. Amendments and supplements made by the Company to this Agreement and to the appendices hereto due to amending of the legislation and regulations governing the subject hereof, as well as rules and contracts of trading systems used by the Company to fulfil its obligations hereunder shall come into force simultaneously with amendments in the aforementioned documents.
10.3. Beginning on the effective date, amendments and supplements made by the Company will be equally applicable to all Clients, including those who had entered the Agreement before the amendments became effective.
10.4. To ensure awareness of the Client who entered the Agreement of amendments and supplements before they come into force, the Client shall visit the Company’s Website or the trading platform himself/herself or through authorised persons at least once a week to find information about amendments and/or supplements that have been made.
10.5. The Client (individual) providing his/her personal data to the Company in any form and in any way (when performing any actions on the Company’s Website, through the Company’s counterparties, etc.) thereby gives to the Company and its partners his/her consent for automated and non-automated processing of provided personal data for the purpose of fulfilment hereof, performance of advertising campaigns, provision to him/her of advertising, informational, and marketing materials, information about campaigns and events held by the Company, and for other purposes determined by the Company, namely: for collection, recording, systematisation, accumulation, storage, adjustment (updating, amending), extraction, transfer (distribution, granting access), depersonalisation, blocking, deletion, destruction, and cross-border transfer of personal data. Consent is given for a period of 75 years (or until expiry of the storage periods for respective information or documents containing said information determined in accordance with the effective legislation of the Company’s location). Consent may be withdrawn in accordance with the legislation by sending a respective statement to the Company’s location. Contact information is provided on the Company’s Website.
The Company guarantees the confidentiality of the personal data provided by the Client, excluding the circumstances set by the applicable law and force majeure.
10.6. The Client is entitled to use information that was communicated to the Client either orally or in writing by posted by the Company or by third persons, access to which was granted to him/her within provision of services hereunder, only to perform transactions under this Agreement. The Client is not entitled to distribute, alter, or supplement the aforementioned information, or store it in separate archives. In any situation, the scope of powers granted to the Client with respect to information posted by third persons shall not exceed the scope of powers obtained by the Company from a third person. The Company does not guarantee that information posted by third persons is reliable, accurate, relevant and will be provided on an ongoing basis without interruptions. The Company also shall not be liable for results of transactions (losses, lost profit, lost income, injury to goodwill, etc.) that the Client decided to perform on the basis of information that was communicated to the Client either orally or in writing by posted by the Company or by third persons.
10.7. The Company is entitled to fully or partially transfer the rights and obligations under this Agreement and the appendices hereto to a third person if such a person undertakes to fulfil the terms hereof. Such transfer of rights and obligations will come into force 10 business days after the day when the Client is considered to have received the respective notice pursuant to the provisions hereof.
10.8. The Client is not entitled to assign his/her own rights, impose his/her own obligations or transfer rights or obligations hereunder in any other way without prior written consent of the Company. If this provision is violated, any such assignment or transfer shall be considered to be invalid.
10.9. The Company, its partners or any other affiliates may have a material benefit, legal relation or arrangement with respect to a transaction in the trading platform or in the personal area, or a material benefit, legal relation or arrangement that is in conflict with the Client’s interests. For example, the Company may:
a) act as a counterparty with respect to any asset;
b) suggest another partner of the Company as a counterparty for a trading operation;
c) give recommendations and render services to its partners or other clients of the Company with respect to assets they are interested in, despite the fact that this is in conflict with the Client’s interests.
10.10. The Client shall agree and authorise the Company to act with respect to the Client and for the Client as the Company finds appropriate, despite the potential conflict of interests or existence of some material interest with respect to any transaction in the trading terminal or in the personal area without prior notification of the Client. Existence of a conflict of interest or material benefit with respect to any transaction in the trading terminal or in the personal area shall not affect the provision of services to the Client by Company employees. From time to time, the Company may act on behalf of the Client with counterparties that have an Agreement for receipt of goods or services with the Company or any of its affiliates. The Company guarantees that such agreements are made as far as possible for the benefit of the Client. For example, such agreements make it possible to gain access to information or any other services that otherwise would have been unavailable.
10.11. If any provision hereof (or any part of such provision) is recognised to be invalid by a competent court, such provision will be considered to be a separate part of the Agreement and it will not affect the remaining part of this Agreement.
10.12. The Company is entitled to suspend provision of services to the Client at any time (it is not obliged to inform the Client in advance).
10.13. In case of situations not described in the Agreement, the Company shall act in good faith and deal fairly in accordance with accepted market practice.
10.14. The Company is entitled to prepare and use text from the Agreement and the appendices hereto in languages other than English. If there are differences between the text hereof and the appendices hereto in English and the respective text in other languages, the English text shall prevail. The text of the Agreement that is published on the Company’s Website shall prevail over the text of the Agreement published elsewhere.
11.1. The Company does not do business in the following countries and does not provide services to persons associated with those states: Australia, Canada, the United States, Japan, Austria, Belgium, Bulgaria, Croatia, Cyprus, Lichtenstein, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Israel, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, New Zealand, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, Sweden, and United Kingdom;
11.2. Persons associated with a country are defined as persons:
11.2.1. having citizenship, a residence visa, or other similar document from a country in which the Company does not do business;
11.2.2. residing in a country in which the Company does not do business, being residents of a country in which the Company does not do business, or having mailing addresses or residence addresses in a country in which the Company does not do business;
11.2.3. whose places of birth are countries in which the Company does not do business;
11.2.4. having a telephone number with the country code of a country in which the Company does not do business; having an ip address associated with a country in which the Company does not do business;
11.2.5. having another connection with a country in which the Company does not do business as defined by the Company at its discretion.
11.3. If it is determined that the Company is providing services to persons associated with the countries in which the Company does not do business, the Company may apply the consequences listed in clause 8.5 of the Agreement or take other steps pursuant to the Agreement.