Terms and Conditions
Last Updated: January 10, 2013
BY ACCESSING THE SITE AND THE SERVICE, YOU CONFIRM AND ACKNOWLEDGE THAT YOU HAVE (I) READ THIS AGREEMENT AND THAT YOU UNDERSTAND ITS CONTENT, (II) THAT YOU AGREE TO BE BOUND BY THIS AGREEMENT AND (III) THAT YOU ARE OF LEGAL AGE TO FORM A BINDING CONTRACT OF THE TYPE OF THIS AGREEMENT. THE AGREEMENT IS BETWEEN YOU AND Tifozi Investments Limited. If you do not agree to be bound by the terms and conditions of this Agreement, do not use or access the Site or the Service.
2. Disclosure of Certain Risks
THE SERVICE OFFERS FINANCIAL ACTIVITIES THAT MAY RESULT IN THE LOSS OF PART OR ALL OF THE INVESTED FUNDS WHILE TRADING. YOU SHOULD CAREFULLY CONSIDER WHETHER THIS ACTIVITY SUITS YOUR NEEDS, YOUR FINANCIAL RESOURCES AND YOUR PERSONAL CIRCUMSTANCES.
YOU SHOULD BE AWARE THAT AMONG THE FEATURES OF THE SERVICE: (I) THE PRICES AND EXPIRATION PERIOD QUOTED THROUGH THE SERVICE FOR VARIOUS ASSETS ARE THE PRICES AND EXPIRATION PERIOD IN WHICH WE ARE WILLING TO SELL A BINARY OPTION FOR SUCH ASSET TO YOU AT SUCH TIME AND THESE PRICES MAY NOT CORRESPOND TO ANY OTHER MARKET PRICE AVAILABLE TO YOU FROM DIFFERENT MARKETS AT THE POINT IN TIME IN WHICH YOU PURCHASE THE BINARY OPTION THROUGH THE SERVICE; AND (II) A BROAD RANGE OF FINANCIAL INFORMATION IS DISPLAYED ON THE SITE AND MAY QUICKLY BECOME UNRELIABLE OR CHANGE FOR VARIOUS REASONS SUCH AS DUE TO THE VOLATILITY OF FINANCIAL MARKETS. FURTHER, MINOR DIFFERENCES IN MARKET PRICES MAY OCCUR IN SHORT TIME PERIODS AND MAY CAUSE HIGH PROFITS OR LOSSES IN RELATION TO TRANSACTIONS YOU COMPLETE THROUGH THE SERVICE. THERE IS NO EXISTING METHOD THAT CAN ASSURE PROFITS FROM TRANSACTIONS IN FINANCIAL MARKETS. WE ARE UNDER NO OBLIGATION TO QUOTE A PARTICULAR PRICE QUOTED ON ANY SPECIFIC MARKET. YOU MAY NOT USE OR RELY ON PRICES QUOTED THROUGH THE SERVICE FOR ANY PURPOSE OTHER THAN TRADING THROUGH THE SERVICE, AND YOU AGREE NOT TO REDISTRIBUTE SUCH PRICES TO OTHERS (FOR COMMERCIAL OR ANY OTHER PURPOSE).
YOU SHOULD ALSO BE AWARE OF THE RISKS ASSOCIATED WITH USING AN INTERNET OR MOBILE BASED SYSTEM FOR TRADING OPTIONS, INCLUDING BUT NOT LIMTED, THE FAILURE OF HARDWARE, SOFTWARE, AND INTERNET CONNECTION.
THE SITE AND THE SERVICE IS INTENDED FOR AND SHOULD ONLY BE USED BY INDIVIDUALS OR ENTITIES THAT HAVE SUFFICIENT EXPERIENCE AND KNOWLEDGE IN FINANCIAL MATTERS TO BE CAPABLE OF EVALUATING THE FINANCIAL DATA AND MARKET INFORMATION DISPLAYED ON THE SITE, AND THE MERITS AND RISKS OF ENTERING INTO FINANCIAL CONTRACTS. BY USING THE SERVICE YOU AKNOWLEDGE THAT YOU ARE AWARE OF ALL OF THE RISKS ASSOCIATED WITH THE SERVICE (INCLUDING WITHOUT LIMITATION FULL INFORMATION AND KNOWLEDGE REGARDING ONLINE BINARY OPTION TRANSACTIONS) and have the fİnancİal capabİlİty to fİnance YOUR PARTICIPATION, THAT YOUR USE OF THIS SITE, THE SERVICE AND CONTENT, IS AT YOUR OWN DISCRETION AND RISK, AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY RESULTING CONSEQUENCES.
3. The Service.
General. Each binary option sold by us through the Service (the "Transaction") is subject to the prices, expiration periods and payout amounts and other terms quoted by the Service at the time of entering into a Transaction. Each Transaction is comprised of an offer by you to enter into the Transaction, and our subsequent acceptance of your offer evidenced by withdrawal of monies from your account with us on the Service (the "Account") in the amount indicated by you in your offer. A Transaction will be deemed to have been consummated only when your offer has been received and accepted by us, as evidenced by withdrawal of monies from your Account. We may, in our sole discretion, accept or reject all or any part of an offer by you to enter into a Transaction. We may offer to and impose on each user, in our sole discretion, different terms and restrictions with respect to their use of the Service.
Each Transaction must be processed manually by you through the Service only, and not by any automatic system. Other offers, such as offers sent by fax, email or text message, will not be accepted.
If during the term between the purchasing and the expiration of a Transaction relating to a stock as the underlying asset, the stock has been split or there is a reverse split, then such option’s price will be adjusted according to the adjustments made to the stock price in the Exchange where it is traded due to such split or reverse split.
We reserve the right to void any Transaction which we believe to be based on an obvious error, or fraudulent, including without limitation offers to execute Transactions for exaggerated amounts.
It is your obligation to ensure that you fully comply with all applicable laws, regulations and directives with regard to the use of the Site and the Service. For avoidance of doubt, the ability to access our Site or the Service does not necessarily mean that the Site or the Service and your use thereto are legal under relevant laws, regulations and directives. Further, use of the Service is unauthorized in any jurisdiction that does not give effect to all provisions of the Agreement.
Any downloads of software from the Site or from authorized third party websites, which enable you to access the Service, including without limitation any files, images incorporated in or generated by the software, and data accompanying the software, (the "Software") is licensed to you by us or third-party licensors for your personal, noncommercial use only. You shall keep intact all copyright and other proprietary notices and your use of such Software is strictly subject to the terms of this Agreement and any agreement accompanying the Software.
Payments,Transfers and Taxes. All payments in connection with the Site or Service are non-refundable and non-cancelable.
Upon entering into a Transaction, the amounts used to enter into a Transaction shall be immediately withdrawn from your Account and held by us pending expiry of the Transaction. You shall not be allowed to enter into a Transaction for any amount in excess of the balance in your Account. You hereby declare that the moneys invested in your Account with us do not originate from any illegal activity.
In the event that you are entitled to monies at the expiration of a Transaction, such amounts shall be added to your Account. You hereby authorize us to hold your funds in any financial institution we choose in our sole discretion. You shall not be entitled to, nor shall your credit balance in your Account bear, any interest. Any funds to be paid to you in respect of an expired Transaction shall be paid in the same currency as initially deposited into your Account by you. Other than the applicable amount payable to you upon the expiration of a Transaction, you shall not be entitled to any further payment of any kind whatsoever.
If you submit a request to withdraw monies from your Account, such transfer may take us up to seven (7) business days to process the request, following the provision by you of all relevant identification documents that we may require from you in our sole discretion. Once the request has been approved, it may take a further seven (7) business days until the funds show in your personal account. Transfers via credit or debit card shall be performed at times and according to the card company's procedures or according to the terms of third party payment processors used by us to complete such transfers. We may carry out withdrawal orders by alternative means to those which have been used in the original deposit order, subject to anti-money laundering laws and regulations.
We may, from time to time and in our sole discretion, including without limitation, after funds have been deposited into your Account and prior to any withdrawals, require you to provide proof of identity documentation, such as a notarized copy of your passport or other means of identity verification, copies of the credit card used to deposit funds, utility bill, and written confirmation of your instructions to perform activities through the Service, as we may deem necessary under the circumstances. Notwithstanding, we are not obligated to verify your identity or the validity of your instructions. You shall bear the risk of all instructions, whether authorized, unauthorized, improper or fraudulent, even if such instructions were provided without your authority. If you do not comply with our requests, we reserve the right to close any open Transactions on the Service, refund to your Account all amounts invested by you pursuant to such closed Transactions, transfer such monies from your Account to you and delete your Account.
You shall be fully responsible for the payment of any taxes that apply to this Agreement, the Site or the Service. It is your responsibility to report your activities on your Account to any applicable tax or other authority, and to pay all applicable taxes, levies, governmental fees and charges associated with the activities including required deductions at source.
Suspension and Termination. We may, in our sole discretion, from time to time add, remove or suspend from the Service any type of option or asset, or change or discontinue providing any part of the Service.
We may, in our sole discretion and without notice or liability to you or any third party, block access to this Site or the Service from, or immediately suspend or terminate the Account of, any user that, among others: (i) we suspect is the victim of theft or unauthorized use of Registration Data; (ii) provides Registration Data that is inappropriate or offensive in our discretion, inaccurate, not current or incomplete, (iii) breaches the letter or spirit of any term of this Agreement, or (iv) whose Account has extended periods of inactivity, without derogating from any other right or remedy that we may have by law, equity or otherwise. In such an event, we may immediately close any Transactions, and debit or credit your Account as applicable, close all or any of your Accounts held with us of whatever nature, terminate this Agreement without notice and refuse to enter into further Transactions with you. Any monies held in any of your Accounts on the Site shall be frozen and we may deduct any amounts from such Accounts in order to set off any loss, damages or expenses incurred by us as a result of a breach of this Section.
You acknowledge that we may terminate operation of the Site and the Service at any time, in our sole discretion. Without derogating from any other provision in this Agreement, we reserve the right to suspend the operation of this Site or the Service, including closing any open Transactions and crediting the funds invested for such Transactions back to your Account, and refunding any credit balances in your Account back to you, when, among others, (i) as a result of political, economic, military or monetary events (including unusual market volatility or illiquidity) or any circumstances outside our control, responsibility and power, the continued operation of this Site or the Service shall not be reasonably practicable without materially and adversely affecting and prejudicing yours or our interests or if, in our sole discretion, we determine that a price cannot be calculated for a Transaction; (ii) there is a breakdown in the means of communication normally employed in determining the price or value of any Transaction or where the price or value of a Transaction cannot be promptly or accurately determined; or (iii) from time to time, we perform maintenance upon the Site or Service resulting in interrupted service, delays or errors in the Site or Service. We will attempt to provide prior notice of scheduled maintenance but cannot guarantee that such notice will be provided. Under such circumstances, we may in our sole discretion (with or without notice) close your open Transactions at prices we consider fair and reasonable at such time, and you waive any claims or demands against us in connection thereto.
4. Anti-Money Laundering.
We employ best-practice anti-money laundering ("AML") procedures. We reserve the right to refuse to do business with, to discontinue to do business with, and to reverse any Transactions with you if you do not accept or conform to the following AML requirements and policies:
- You must provide us with all requested information upon registration;
- Any amounts payable to you upon the expiration of a Transaction will only be paid to the individual who initially registered to open an Account;
- If you deposit funds to your Account by means of wire transfer, any withdrawals from your Account will only be transferred to the holder of the originating bank account of the deposit. When making deposits in this manner, it is your responsibility to ensure that your bank account number and the registered name of the account owner accompany all such deposits to us;
- If you deposit funds to your Account by means of credit/debit card, withdrawals from your Account will only be distributed to the individual whose name appears on the card used to make the deposit and only to the same card;
- Only one Account is allowed per person. No amount may be withdrawn from any Accounts opened in a false name or on multiple Accounts opened by the same person.
5. Registration and Account Management.
Some functions of the Service require registration, and as part of the process you will be requested to provide certain information, including among others, a unique user name and password ("Registration Data"). You agree to:
- Provide true, accurate, current and complete Registration Data as prompted by the registration process.
- Maintain and promptly update the Registration Data to keep it accurate, current and complete.
- Maintain the security and confidentiality of your password and any other security or access information used by you to access the Site or Services.
- Ensure that you log out of the Service at the end of each session using the Service.
- Refrain from transferring your Account on the Service to any other without our prior written consent.
- Refrain from impersonating any person or entity or misrepresent your identity or affiliation with any person or entity, including using another person's username, password or other Registration Data.
- Immediately notify us in writing if you become aware of any loss, theft or use by any other person or entity of any of your Registration Data in connection with the Site or the Service or any other breach of security that you become aware of involving or relating to the Site.
We assume that any communications and other activities through use of your Registration Data were sent or authorized by you, and you are fully responsible for all activities that occur under your Registration Data. You may not access your Account, or have your Account open, simultaneously through the mobile application and the Site.
You hereby consent to have your trading history through the Service available online. You will be able to access Account information via the Service using your Registration Data. Posting of Account information on your online Account will be deemed delivery of confirmation and Account statements.
You declare that by providing your Registration Data to us, you hereby consent to, us sending, and you receiving, by means of telephone, facsimile, SMS or e-mail, communications containing content of a commercial nature relating to your use of the Site, the Service and related services, including further information and offers from us that we believe you may find useful or interesting, such as newsletters, marketing or promotional materials. You acknowledge that we do not have to obtain your prior consent (whether written or oral) before sending such communications to you, provided that we shall immediately cease to send any such further communications should you notify us in writing that do not wish to receive such commercial content anymore.
6. User Conduct.
You may access and use the Site and Service only for its purposes as intended by the normal functionality of the Site and Service, as long as you are in compliance with all provisions of this Agreement. In connection with your use of the Site and the Service, you agree to abide by all applicable local, state, national and international laws and regulations and not, nor allow or facilitate a third party to, violate or infringe any rights (including without limitation copyrights, rights of publicity or privacy and trademarks) of others, our policies or the operational or security mechanisms of the Service, and without limiting the foregoing you may not:
- use (i) the Site, (ii) the Service, or (iii) any content, financial data, programming, services, features, data, information, text, images, photographs, graphics, scripts, sounds, video, music, sound recordings, programming, logos, trademarks, service marks, HTML code, compilation of content, format, design, user interface and software made available through or which appears on the Site or Service ("Content") to promote, conduct, or contribute to fraudulent, obscene, pornographic, inappropriate or illegal activities, including without limitation deceptive impersonation, in connection with contests, pyramid schemes, surveys, chain letters, junk e-mail, spamming or any duplicative or unsolicited messages (commercial or otherwise).
- interfere with the access, use or enjoyment of this Site or the Service by others (including without limitation causing greater demand on the Service than is deemed by us reasonable, attacks such as "flaming" other participants in a manner that might incite or perpetuate a conflict or argument, and creating usernames to attack other participants' identities); harass or defame others; or promote hatred towards any group of people.
- harvest or otherwise collect non-public information about another user obtained through the Site or the Service (including without limitation email addresses), without the prior written consent of the holder of the appropriate rights to such information.
- add a Site member to your email or physical mailing list without their consent after adequate disclosure, or use their email address or contact details for antisocial, disruptive, or destructive purposes, including "flaming," "spamming," "flooding," "trolling," and "griefing" as those terms are commonly understood and used on the internet.
- use any Content except for the intended purposes of the Service and Site, subject always to the terms of this Agreement. You may not display, import or export feedback information relating to the Site or use it for purposes unrelated to the Service without our prior written consent.
- alter, modify, delete, forge, frame, hyper-link, create derivative works or otherwise interfere with or in any manner disrupt, circumvent, or compromise any part of the Site, the Service, any Content, or features.
- access or attempt to access any of our systems, programs or data that are not made available for public use, or attempt to bypass any registration processes on the Service.
- decompile, disassemble, reverse engineer or otherwise attempt to discover any source code or underlying ideas or algorithms of the Site or the Service except if and to the extent permitted by applicable law.
- copy, distribute, transmit, broadcast, publicly display, publicly perform, rent or sell any portion of the Service, the Site or the Content.
- use any robot, spider, other automated device or any tool-bar, web-bar, other web-client, device, software, routine or manual process, to monitor or scrap information from this Site or the Service, or bypass any robot exclusion request (either on headers or anywhere else on the Site).
- fail to deliver timely payment for your purchases.
- use any meta tags or any other "hidden text" utilizing any trademarks or intellectual property owned or licensed by us.
- create or provide any other means through which the Service may be accessed, for example, through server emulators, whether for profit or not.
- 'deep-link', redistribute or facilitate the redistribution of Content.
- abuse or use any other means to affect or manipulate the Service in general, or the prices quoted through the Service. For the avoidance of doubt, an excessive use of the “cancel” feature on the site, will be considered by the Site management as an Abuse of the system. It is clarified that the Site management shall be entitled to suspend and/or dismiss your Account due to Abuse.
- use this Site or the Service for the purpose of money laundering.
- When using the Site or the Service you will be exposed to Content from a variety of sources, and we are not responsible for the accuracy, usefulness, safety or intellectual property rights of or relating to such Content.
When using the Site or the Service you will be exposed to Content from a variety of sources, and we are not responsible for the accuracy, usefulness, safety or intellectual property rights of or relating to such Content.
7. Record Keeping.
You acknowledge that we, or an authorized party on our behalf, may record telephone conversations and keep records of all written orders, correspondences and Transactions with you. Our records will be conclusive evidence of your dealings with us in connection with the Service including in any legal or regulatory proceedings. You will not object to the admission of our records as conclusive evidence in any legal or regulatory proceedings because such records are not originals, are not in writing or are documents produced by a computer. You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request in our absolute discretion.
7.a. Bonuses & Other Non-Deposited Funds.
From time to time, You may be granted certain bonuses or funds. These bonuses and other funds will appear on your account, and may include agreed or voluntary bonuses and incentives, or any other sums not directly deposited by the Client or gained from trading on account of actually deposited funds ("Non-Deposited Funds"). Please note that unless otherwise explicitly agreed, Non-Deposited Funds and any gains derived thereof, are not available for immediate withdrawal. Further, no withdrawals may be performed in any account that include Non-Deposited Funds, until You have reached the minimum trading volume required.
9. Proprietary Rights.
You acknowledge that the Service and Content, including without limitation the Software, the trademarks, service marks and logos contained in the Site ("Marks"), are protected by copyrights, trademarks, service marks, patents or other proprietary rights, both with respect to individual content and as a collective work or compilation, pursuant to laws and international conventions. Any rights to the Content, the Site and the Service are reserved by us and out licensors.
Any material, including without limitation, idea, knowledge, technique, marketing plan, information, questions, answers, suggestions, emails and comments, provided by you to us shall not be considered confidential or of a proprietary nature. In providing us with material, you authorize us to use it and any developments or derivatives thereto, according to our needs as determined in our sole discretion, including for public relations and promotion of the Site and the Service in the online and offline media, and all without requirement of any additional permission from you or the payment of any compensation to you.
11. Links to Other Websites.
12. Disclaimers of all Warranties.
THE CONTENT, THE SITE AND THE SERVICE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
WITHOUT LIMITING THE ABOVE, (I) WE MAKE NO WARRANTY THAT THE SITE, THE SERVICE OR THE CONTENT WILL MEET YOUR REQUIREMENTS, OR WILL BE UNINTERRUPTED, CONTINUOUS, TIMELY, SECURE, ACCURATE, CORRECT, COMPLETE OR AVAILABLE; AND (II) CONTENT IS PROVIDED AS GENERAL MARKET COMMENTARY, DOES NOT CONSTITUTE INVESTMENT ADVICE, AND IS SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE. WE DO NO ENDORSE OR APPROVE THE CONTENT AND ARE NOT OBLIGATED TO UPDATE ANY CONTENT.
13. Limitation of Liability.
UNDER NO CIRCUMSTANCES SHALL WE BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES (I) ARISING OUT OF THE USE OR THE INABILITY TO USE ANY PART OF THIS SITE OR THE SERVICE OR ANY SITES LINKED TO THIS SITE, OR (II) RESULTING FROM ANY INACCURACIES OR ERRORS OF INFORMATION WITH RESPECT TO THE CONTENT; IN EACH CASE, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, REPUTATION, GOODWILL, USE, DATA OR OTHER INTANGIBLE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, whether based on contract, tort, negligence, strict liability or otherwise. Without derogating from any of the foregoing, our total aggregate liability under this Agreement, if any, in connection with the Site, the Services or the Content or the Agreement will be limited to the amount of the Transaction giving rise to such claim. The foregoing limitations shall apply notwithstanding any failure of essential purpose of any limited remedy and are fundamental elements of the bargain between us and you. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or in connection with the Site, the Service, the Content or the Agreement must be filed within thirty (30) days after such claim or cause of action arose or be forever barred.
YOU RELEASE, AND AGREE, AT YOUR OWN EXPENSE, TO INDEMNIFY, DEFEND AND HOLD HARMLESS US, OUR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND AFFILIATES, FROM ALL CLAIMS, LIABILITIES, LOSS AND DAMAGES (OF EVERY KIND, WHETHER KNOWN OR UNKNOWN AND SUSPECTED OR UNSUSPECTED) RELATED TO IN ANY WAY TO: (I) YOUR USE OF, ACCESS TO OR RELIANCE ON THIS SITE, THE SERVICE OR THE CONTENT, OR (II) YOUR VIOLATION OF ANY OF THE TERMS OF THIS AGREEMENT OR ANY APPLICABLE LAWS OR REGULATIONS. We will provide you with written notice of such claim. You will not enter into any settlement or compromise of any such claim without our prior written consent. We may assume the exclusive defense and control of any matter subject to indemnification by you. In all events, you shall cooperate fully in the defense of any claim.
15. Governing Law and Exclusive Courts.
This Agreement will be governed by in accordance with the laws of the Cyprus without regard to its choice of law principles. Any legal action or proceeding arising in connection with this Agreement will be brought exclusively in courts in the Cyprus, and the parties irrevocably consent to such personal jurisdiction and venue.
No waiver of any term of this the Agreement shall be deemed a further or continuing waiver of such term or any other term, and any failure to assert any right or provision under the Agreement shall not constitute a waiver of such term. This Agreement, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by us without restriction. You agree that no joint venture, partnership, employment, franchise or agency relationship exists between you and us as a result of the use of the Site or the Service. This Agreement comprises the entire agreement between you and us, states our and our suppliers' entire liability and your exclusive remedy with respect to the Site and Service, and supersedes all prior agreements pertaining to the subject matter thereof. If any provision(s) of this Agreement is held to be contrary to law, then such provision(s) shall be construed, as nearly as possible, to reflect the original provision and the other provisions remain in full force and effect. The section titles in this Agreement are solely used for the convenience and have no legal or contractual significance. No provision of the Agreement shall be construed against us but rather shall be construed in a neutral and fair manner as terms entered into by a fully-informed party on a voluntary basis after opportunity to confer with advisors and legal counsel about the meaning and effects of the terms of this Agreement.