In consideration of the BO Technologies Ltd (henceforth known as “Company” or “the Company”) agreeing to enter into binary options trading with the undersigned (hereinafter referred to as the “Customer”, “you”, “your”), Customer acknowledges, understands and agrees that:
- Trading is Very Speculative and Risky. Trading in binary options is highly speculative, involves an outstanding risk of loss and is not suitable for everyone but only for those investors who:
(a) understand and are willing to assume the economic, legal and other risks involved.
(b) are financially able to assume the loss of their total investment
(c) have the knowledge to understand binary options trading and the underlying assets.
Customer represents, warrants and agrees that Customer understands these risks, is willing and able, financially and otherwise, to assume the risks of trading in binary options and that the loss of Customer’s entire Account balance will not change Customer’s lifestyle.
- Cash Settlement. Customer acknowledges and understands that Binary options trading can only be settled in cash.
- Conflicts of Interest. The Company is the counterparty to all transactions entered into under the Customer Agreement and, as such, the Company’s interests may be in conflict with yours. Our conflicts of interest policy is available at the Company’s website.
- Prices are set by the Company and may be different from prices reported elsewhere. The Company will provide the prices to be used in trading and valuation of Customer positions in accordance with its Trading Policies and Procedures. The trading rates assigned to the assets on the Company’s website are the ones at which the Company is willing to sell binary options to its Customers at the point of sale. As such, they may not directly correspond to real time market levels at the point in time at which the sale of options occurs.
- Rights to Underlying Assets. You have no rights or obligations in respect of the underlying instruments or assets relating to your binary options trading.
- Right to Cancel an Order. You will have the right to cancel your trade for a period of at least 2 seconds after clicking the CALL or PUT button (cancelling the trade will not affect your trading balance and the funds will be returned to your trading account).
- The Company Is not an adviser or a fiduciary to customers. Where the Company provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and have not considered any of your personal circumstances or your investment objectives, nor is it an offer to trade, or the solicitation of an offer to trade, in any binary options. Each decision by Customer to trade in binary options with the Company and each decision as to whether a transaction is appropriate or proper for Customer is an independent decision made by the Customer. The Company is not acting as an advisor or serving as a fiduciary to Customer. Customer agrees that the Company has no fiduciary duty to Customer and no liability in connection with and is not responsible for any liabilities, claims, damages, indemnifications, costs and/or expenses, including attorneys’ fees and/or any legal proceedings, incurred in connection with Customer following the Company’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by the Company.
- Recommendations are not guaranteed. The generic market recommendations provided by the Company are based solely on the judgment of the Company’s personnel and should be considered as such. Customer acknowledges that it enters into any Transactions relying on its own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of the Company and/or its affiliates. The generic market recommendations of the Company are based upon information believed to be reliable, but the Company cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will reduce or eliminate the risk inherent in trading in binary options.
- No guarantees of profit. There are no guarantees of profit nor of avoiding losses when trading in binary options. Customer has received no such guarantees from the Company or from any of its representatives. Customer is aware of the risks inherent in trading in binary options and is financially able to bear such risks and withstand any losses incurred.
- Internet Trading. When Customer trades online (via the internet), the Company shall not be liable for any claims, losses, damages, indemnifications, costs or expenses, caused, directly or indirectly, by any malfunction or failure of any transmission, communication system, computer facility or trading software, whether belonging to the Company, Customer, any exchange or any settlement or clearing system.
Expiry System Errors. In case the expiry system fails for any reason, it will auto detect un-expired options and expire them in accordance to the rates stored historically in the archive. If any position did not expire on time, the system will issue a notification to Risk Manager and Compliance Officer, detailing all position information, in order to be resolved manually.