1. General Provisions and Subject of the Agreement
1.1. This Service Agreement has been made between IE Option Company, and the natural person 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).
1.3. The Agreement is an invitation to make offers posted on the Company's website that must be treated as an offer to enter into this Agreement on the terms set forth in it. The posted offer is not public. The Company at its sole discretion may refuse to enter into an Agreement with anyone without explaining the reasons for refusal or, if registration took place, to terminate contractual relations and to block access to the trading terminal. The Client's registration on the Company's Website or on the trading terminal is considered as full and unconditional acceptance of the terms of the Agreement. As soon as the Company receives a payment to replenish the Client's trading account, each Client transaction using the trading terminal or Dashboard becomes the subject of this Agreement.
1.4. The Client must carefully review the terms of the Agreement. By accepting the terms of this Agreement, the Client agrees to the terms of all annexes to it listed above, including the terms on subdomains of the Company's website that are accessible by the Client and confirms that he/she is an adult who is a legally capable person and is not a resident of a country where trading in options may be deemed illegal. The Client also represents and warrants to the Company that:
1.4.1. All information provided during Client registration and during the performance of Agreement, is true, accurate, reliable and complete in all respects, and the Client completed the registration form him/herself;
1.4.2. The Client possesses legal personality to enter into this Agreement, to make inquiries and give orders, and to exercise his rights and to fulfill obligations in accordance with the terms of the Agreement;
1.4.3. The Client will carry out trading and non-trading transactions personally, on his own behalf and at his own expense and will not use funds borrowed from other Company Clients or from third parties to carry out transactions. The Client will be guided by the principles of integrity, honesty, and rationality; the Client will not take actions coordinated with other Company Clients aimed at damaging the Company; the Client will not use technical features of the quote stream update on the trading terminal and will not use software errors, defects, and vulnerabilities he discovers in the trading terminal to extract income and will not distribute the information about vulnerabilities to the third parties. The Client will not use unfair and dishonest methods or ways of making trades (transactions) with the Company; the Client will not use insider or confidential information or any other information, as a result of the use of which the Client might benefit when trading with the Company and/or that might damage the Company;
1.4.4. The Client will adhere to legal norms, in particular, but not limited to, international norms aimed at controlling illegal trade, financial fraud, and money laundering;
1.4.5. The Client will not use the trading terminal or website to collude in illegal financial activities or any other illegal transaction;
1.4.6. The money listed by the Client on the Company's account has legal origin. The Client legally owns the money and has the right to use and manage it. The Client's account will not be replenished from third party payment instruments. The Client will not replenish third party Client accounts or withdraw money from the Client's account to third party payment instruments.
1.4.7. No actions of the Client pursuant to the Agreement will violate any law, regulation, right, bylaws, or rules and regulations applicable to the Client or in the jurisdiction where he/she resides or the provisions of any other agreement binding on the Client or involving any assets of the Client;
1.4.8. To carry out transactions, the Client will use account data from Trading Terminal belonging to him and will not transfer account data to third parties and will not use account data of the Company's clients for trading and (or) non-trading operations;
1.4.9. The Client is not a federal or municipal employee, an employee of a federal or municipal institution, an employee of a federal or municipal organization, an organization in whose capital the state has a prevailing interest; the Client is not a politically significant person, a family member or a relative of a politically significant person; the Client is not a person closely connected with a politically significant person; the Client is not a person connected with the United States or with another country in which the Company does not operate. The terms used in this paragraph are interpreted and applied by the Company at its own discretion in accordance with the norms of international legislation and/or legislation of a particular state, generally accepted terms and definitions, customary business practices.
1.5. The subject of the Agreement is the definition of the general conditions under which the Parties carry out transactions (trades), the content and procedure for which are set forth in this Agreement. The Company unilaterally sets and may alter at its sole discretion essential conditions for a transaction (trade), may limit the number of trades executed simultaneously, and limit the number of trades that a Client may make within the time period set by the Company, may set other limits for trades at its sole discretion and unilaterally.
1.6. The Company may engage third parties to perform this Agreement. The company is not responsible for services provided by such third parties.
2. Terms and Definitions
2.1. Asset: the underlying financial instrument of an option.
2.2. Client's Account Balance: the amount of money in the Client's account.
2.3. Option: a derivative financial instrument (trade), consisting of two transactions: Making a trade and Closing a trade, as a result of the fulfillment of which the Client either receives Income or loses the Trade amount. The Company does not, however, provide a Client with the ability to assume obligations greater than the Trade amount (the Company does not provide leverage to the Client). The Company and the Client make a trade with an Higher/Lower option - an option, the targeted level of which equals the asset price or another price determined by the Client at the Company's suggestion when the trade is made, payment on which is made if an upward price change was elected and the asset price was greater than the targeted level when the option expired or if a downward price change was selected and the asset price was less than the targeted level when the option expired. If the asset price is the same as the targeted level when the option expires, the trade Amount is returned to the Client.
2.4. Bonus: virtual cash credited by the Company to the Client's Account when the Client meets the conditions established by the Company. When the Client executes trading transactions, funds deposited by the Client must be used first and, only after those funds are completely exhausted, does the Client have the right to use the Bonus for further trading transactions. In general, the Client cannot withdraw the Bonus amount to the Client's External Account. If the Client withdraws funds that were previously credited to his External account, the Company has the right to debit the entire amount of previously accrued Bonuses from the Client's Account. The Company has the right to set a minimum trading amount and other terms under which the Bonus is not debited from the Client`s Account and may be withdrawn to the Client's External account. The Company may publish credit and debit rules, rules for using and converting Bonuses to real funds, and rules for other transactions with Bonuses and Client funds that the Client accrued along with Bonuses on its website. The Company may, in addition to Bonuses, provide Clients with risk-free trades and use other ways to reward and retain the Client. A risk-free trade is defined as a trade, at the close of which the Client either receives Income (if the Client fulfils the conditions for payment set in clause 2.3 of the Agreement) or receives a refund of the trade amount (if the Client does not fulfil the conditions for payment set in clause 2.3 of the Agreement). When the Client uses a risk-free trade that ended with the return of the Trade amount to the Client because the targeted level and asset price coincided when an option expires, that risk-free trade is deemed to be used by the Client.
2.5. Company Website: an internet site at the address (domain name) olymptrade.com, and other internet sites which the Company references in the Agreement or on the Company Website.
2.6. Client External Account: the Client's current account at a lending institution, an account (wallet) on an electronic payment system.
2.7. Option Expiration Time: the time when the condition for payout of income on the option is checked.
2.8. Trading Hours: the time when trading in an asset may be done.
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 conditions of the option are met. The Income amount is determined at the time that the trade is executed. Income is credited to 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. Execution of a trade: a trading transaction in which the essential conditions of an option trade are agreed by the Client and the Company. After the essential conditions are agreed, the option trade is open.
2.12. Closing a trade: a trading transaction in which an open trade on an option is liquidated at the option expiration time agreed by the Parties when the trade is made. Early closing of a trade - closing a trade at the Client's initiative before it is closed at the option expiry time. Early closing of a trade is possible only if the Company has the technical capability to do so. The Company may unilaterally at its own discretion provide or refuse to grant the Client the right to make an early closing of a trade.
2.13. Exceptional Situations: abnormal market conditions and other exceptional conditions described in the Regulation on Trading Transactions.
2.14. Asset Quote: the price for one unit of the Asset.
2.15. Log entry: an entry in the database made by the Company server that, with accuracy to the millisecond or, in the case of absence of technical capability, with accuracy to the second, documents all Client inquiries and orders and the result of their processing. Each Client contact with the trading terminal and dashboard is documented in a log entry. These server data are the primary source of information and are used by the parties as evidence if disputes related to the performance of the Agreement arise. Information from a Company server Log entry has unconditional priority over all other arguments during settlement of a dispute, including over information from the Client's trading terminal Log file. The Company reserves the right not to keep Log entries.
2.16. Price Direction: an essential condition of an option trade that determines the trade payout. A price may change direction Higher or Lower.
2.17. Non-trading Transaction: any Client transaction to deposit funds on the Client's Account or withdraw funds from the Client's Account.
2.18. Transactions: The Client's trading and non-trading transactions.
2.19.Open Trade: an option trade after the execution of the trade and before trade closure, for which it is not determined yet whether a payout will be made.
2.20.Deposit & Withdrawal Method: Only Bitcoins are accepted as deposit or withdrawal method. Every transaction record of deposit or withdrawal can be publicly accessible inside the general blockchain network, traders can access the status of assets through the website of BLOCKCHAIN.INFO. Bitcoin is applied during all procedures of fund settlement on IE Option.
2.21. Price Feed: a succession of prices displayed on the Trading Terminal.
2.22. Black Territory: the state of an open option trade if income on the trade can be paid out on the basis of the current trade asset price.
2.23. Trade: an agreement between the Client and the Company under which the Client pays the Trade Amount and the Company agrees to pay a fixed Income if the option conditions agreed by the Parties are fulfilled.
2.24. Company Server: the Company's software used to process and store information about client requests for trading and non-trading transactions, to provide to the Clientreal�time information about quotes, to account for trading and non-trading transactions, to monitor the fulfillment of trade conditions and limit trading transactions, and to determine the financial result of trades.
2.25. Withdrawal Method: one of the Funds Withdrawal methods offered to the Client that is posted on the trading terminal and in the Dashboard.
2.26. Trade Amount: The Trade Amount is the amount paid by the Client to the Company when the trade is made. The Client`s profit on an option trade if the trade conditions are fulfilled is determined by the procedure set forth in Section 2.10. of this Agreement.
2.27. Company's Account: the Company's settlement account at a financial institution, an account (wallet) in an electronic payment system, and other accounts.
2.28. Essential Conditions of a trading transaction (essential conditions of a trade): the conditions that govern the payout of income from a trade to the Client by the Company.
2.29. Client account (Trading account): a special account in the Company's accounting system in which funds transferred by the Client to make trades are posted; from which the trade amount is debited when the trade is executed; and to which income is credited when a trade is closed and the essential conditions of a trade are met. The Client has the right to have only one Client account. In case of violation of this rule, the Company has the right to refuse the Client in further service (rendering of services), to terminate this Agreement, and to block further possibility to carry out transactions without explanation and without payment of funds from the Client's account. It is not a violation of this clause of the Agreement when the Company, if possible and unilaterally, grants the Client the right to use several currencies within the Client's account, as well as the right to use the Client's account in relations between the Company and the Client, which are governed simultaneously by this Agreement and other agreements, concluded between the Company and the Client, under which the Company has the discretion to grant the Client the right to use the Client's account to engage in trading transactions which are not prescribed in this Agreement.
2.30. Trading transactions: procedures to make and close trades with options between the Company and a Client. Trading transactions are carried out at the place of the Company's registration. No physical delivery of assets takes place during trading transactions. Trade amounts for trading transactions are debited from the Client's account balance after a trade is made. The Income on trading transactions are credited to the Client's account immediately after a trade closes.
2.31. KYC: IE Option may request KYC documents, including but not limited to copy of passport or ID or ID and legal bills or any other documents upon the Company’s sole discretion, from the Client under necessary circumstances or to comply with laws and regulations including but not limited to Basel Committee on Banking Supervision. Consolidated KYC Risk. Management (2003), the 40+9 Recommendations by FATF and Anti Money Laundering Act, (1996).
2.32. Trading Terminal: The Trading Terminal is software through which the Client can obtain real-time information about quotes to carry out trading and non-trading transactions and receive messages from the Company. Entry to the Trading Terminal is protected by a password that the Client sets at registration on the Company's site. All orders and inquiries carried out through the Trading Terminal are deemed to be carried out personally by the Client. Clients from countries whose laws prohibit trading in options or other over-the-counter derivatives and the employees, affiliates, agents and other representatives of the Company and their relatives are prohibited from using the Trading Terminal. The part of the Trading Terminal with which a Client can carry out nontrading transactions in this Agreement may be called the Dashboard.
2.33. Cookie file: a small data set including an anonymous unique identifier which is sent to the web browser of the Client's computer or mobile telephone (hereinafter "device") from the Company server (website) and is stored on the Client's device. The Client may configure a web browser to block cookie access to the device. When a Client visits the Company Website, the viewed pages and cookie files are downloaded onto the Client's device. Cookie files stored on the device may be used for anonymous identification if the Client revisits the Company's website and to determine the website pages that are the most popular among our Clients. Cookie files stored on the hard drive of the Client's device enable the company to create the most user-friendly and efficient website for Company Clients, providing us an opportunity to identify our Clients' preferences.
2.34. Trading signals: Trading signals are information about the state of the market gathered by the Company based on analytical conclusions that the Company is entitled to provide at its discretion to some or all Clients with respect to certain market indicators. Trading signals are not an offer and are not the Company's explicit recommendation to Clients to engage in trading transactions or to make trades. The Company is not liable for the accuracy of Trading Signals or for Client trading transactions and trades based on Trading Signals. The Client may, at his discretion, consider or ignore Trading signals when engaging in trading transactions and trades.
2.35. Quote: the current Asset price displayed on the Trading Terminal. Terms used in this Agreement and definitions absent in this Clause shall be interpreted in accordance with usual and customary business practices applicable in regard to conclusion of agreements with financial derivatives.
3. Communications and Provision of Information
3.1. To communicate with the Client, the Company may use:
3.1.3 Letters sent by post;
3.1.4 Different types of messages sent to the Client on the trading terminal, in the Dashboard,browser window, etc. (push notifications, reminders, service messages, etc.);
3.1.5 Announcements on the Company website.
3.2. To promptly communicate with the Client to resolve problems related to Client transactions, the Company will use the Client's contact information entered when the Client registered or modified the account pursuant to clause 4.5 of the Agreement. The Client agrees to accept message from the Company at any time.
3.3. Any correspondence (documents, notices, confirmations, announcements, reports etc.) are deemed received by the Client:
3.3.1 one (1) hour after they are sent to the email address (e-mail);
3.3.2 immediately after an SMS message is sent;
3.3.3 seven (7) calendar days after they are mailed;
3.3.4 immediately after an announcement is posted on the Company website.
3.4. The Client may also contact the Company by e-mail, and other email addresses and the telephone numbers listed in this Agreement and on the Company website.
3.5. The Client understands and agrees that, if the Client's behavior during conversations with a Company representative is inappropriate, the Company reserves the right to unilaterally terminate this Agreement.
3.6. The Company may use contact information provided by the Client to send informational, marketing, and advertising materials, and service messages and to resolve other tasks. The Company will determine the frequency with which it sends messages to the Client at its sole discretion. If the Client wishes not to receive from informational (and other) messages from the Company, he/she must unsubscribe by clicking on the Unsubscribe link (if the message format provides this ability) or by contacting the client support department.
4.1. During registration the Client undertakes to provide correct and reliable identification information 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 ability to transfer funds to the Client's Account (placing a deposit in the Client's Account to be able to make option trades) and to perform other operations.
4.3. The Client must promptly inform the Company about changes in identification and contact information (within 7 (seven) days after that change) by making the appropriate changes on the Trading Terminal or in any other way offered by the Company. To identify the Client and to inspect the origin of the Client's funds at any time after registration, the Company has the right to ask and the Client obliges to provide within 7 (seven) days after the request is received, any identification documents (these documents include identity documents; documents confirming the residential address, documents indicating the Client's financial standing, and other documents at the Company's discretion). The Company reserves the right to suspend non-trading and/or trading transactions on the Client's account if it finds that the Client's identification information is incorrect or inaccurate; if the Client has not provided the requested documents, the Company has the right to block the Client's access to the trading terminal until the client's identification procedure is completed. The Company also has the right to demand the Client to undergo the identification procedure by a personal visit to a Company-authorized agent and provide documents, the list of which is determined by the Company at its 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 may not transfer the trading terminal password to third parties.
4.4.2. The Client assumes full responsibility for password protection and prevention of unauthorized third-party access to it.
4.4.3. All orders through the trading terminal with the Client's password will be deemed to have been made by the Client unless the Company establishes otherwise.
4.4.4. Any person who obtains access to the trading terminal by entering the Client's password will be identified as the Client unless otherwise specified by the Company.
4.4.5. The Company assumes no liability for any losses the Client may suffer in case of theft, loss or disclosure of the password to third parties or in case of unauthorized use of registration data by third parties.
4.5. The Client may change the password to the trading terminal himself/herself or use the procedure for password recovery set by the Company.
5. Claims and Dispute Resolution
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, payouts and other actions hereunder by means of negotiations.
5.2. If a dispute arises, the Client may submit a claim/complaint to the Company and send a statement or notice to the Company. All claims/complaints/statements/ notices related to transactions performed by the Client must be submitted in accordance with the following requirements:
5.2.1. claims/complaints/statements/notices must be submitted in writing;
5.2.2. claims/complaints/statements/notices must contain the following information: Surname, first name, middle name (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 can be valued in money); circumstances that are the grounds for the claim and evidence supporting those circumstances, including reference to the clause of this Agreement (annexes hereto) that were breached in the Client's opinion; a list of documents and other evidence attached to the claim (complaint) authenticated by the Client; other information necessary to settle the dispute;
5.2.3. claims/complaints/statements/notices must be sent by the Client within five (5) business days after the event that was the basis for submission of the relevant 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/statements/notices may be sent by e-mail , by registered or certified mail. Claims/complaints/statements/notices made and sent in another form will not be considered.
5.3. Claims/complaints/statements/notices must not contain:
5.3.1 an emotional evaluation of the dispute;
5.3.2 offensive statements addressed to the Company;
5.4. To respond to a claim/complaint/statement/notice, the Company may request additional documents and information from the Client. A claim/complaint/statement/ notice will be reviewed on the basis of data provided by the Client and log entries from the Company server. Log entries from the Company Server always prevail over other evidence and proof. The Company assumes no liability for incomplete trades and will not compensate any financial damages or moral harm suffered by the Client with respect to what the Client considers to be lost profit. When considering disputes, the Client's references to information from other companies and websites are not considered.
5.5. The Company may reject a claim/complaint/statement/notice if the terms of this section are violated.
5.6. The Company must consider a claim/complaint/application/appeal within no more than 10 working days after the submission date. This term does not include time for provision of additional documents by the Client upon the Company's request.
5.7. If the Client's claim/complaint/statement/notice has not been settled by the Company by the above dispute settlement procedure, the Client may submit a claim to the Financial Commission(www.financialcommission.org).
5.8. In addition to provision set forth in clauses 5.2.-5.7. of the dispute resolution procedure, the Client may file a claim to a court, provided that he/she has first submitted the claim to the Company in accordance with this dispute resolution procedure. The claim procedure for dispute resolution will be deemed followed if: a) the form and content of the claim meet the requirements of clauses 5.2.1., 5.2.2., and 5.2.3.; b) the claim is sent to the Company's registration address by registered or certified mail; c) the Client has a confirmation of claim receipt by the Company; d) the deadline for responding to the claim has expired. Claim response time – 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 transactions in the Client's Account until the dispute is settled or until the Parties come to an interim agreement.
6. Force Majeure
6.1. If the Company has sufficient grounds, it may claim force majeure events. Force majeure events include (without limitation):
6.1.1 any action, event or occurrence (including, but not limited to, any strike, riots or civil strife, terrorist acts, wars, natural disasters, accidents, fires, floods, storms, power outages, interruptions in the operation of communication equipment, software or electronic equipment, incorrect operation of any kind of equipment or software, the instability in the quote stream, interruptions in the operation of or the instability of liquidity providers, etc.), which, in the Company's reasonable opinion, led to the destabilization of the market or the markets for one or more assets (instruments);
6.1.2 the suspension of work, the liquidation or closure of any market or the absence of any event on which the Company bases quotes, or the imposition of restrictions or special or non-standard terms of trade in any market, or in respect of any such event.
6.2. If the Company has established that a force majeure event occurred, the Company has the right (without prejudice to the Company's other rights) to take any of the following steps without prior written notification and at any time:
6.2.1 cancel any or all trades the result of which is directly or indirectly caused by force majeure;
6.2.2 suspend or amend the application of one or all provisions of the Agreement as long as the force majeure event makes it impossible for the Company to comply with these provisions;
6.2.3 take or, on the contrary, not take any action in respect of the Company, the Client or other clients, if the Company reasonably deems it appropriate under the circumstances.
6.3. The Company assumes no liability for breach (improper discharge) of obligations if force majeure events interfered with that discharge.
7. Liability of the Parties
7.1. The liability of the Parties to this Agreement is determined by the terms of the Agreement and its annexes.
7.2. The Company assumes liability only for real damages caused to the Client as a result of the Company's deliberate breach of its obligations hereunder. The Company is as responsible for the actions of its representatives, departments, and payment agents as it is for its own actions.
7.3. The Client will provide or update KYC documents to the Company within 7 days after deposit funds or upon the Company’s request at any time.
7.4. The Client assumes liability to the Company for losses incurred by the Company for which the Client is responsible, including:
7.4.1 for damage caused as a result of the Client's failure to provide (or late provision) of any documents that must be provided to the Company under this Agreement and its annexes and for damage caused to Company because of any misstatement of information contained in documents provided by the Client;
7.4.2 for damage caused to the Company because of abuse of services provided by the Company to the Client, including damage (losses) caused to the Company by the use of robotic and automated transaction algorithms and/or special software tools and other tools, devices, methods and techniques that facilitate or contribute to the violation of the principle of integrity, honesty and fairness in the execution of transactions;
7.4.3 for damage caused by the Client as a result of the actions coordinated with other clients of the Company and/or affiliates of the Client aimed at causing the Company losses and for other damage caused to the Company by the Client from the use of other unfair and dishonest methods and techniques for making trades (transactions) with the Company, including using bonuses. In any situation "Client affiliates" means persons in a kinship relationship of any degree; marital, partnership, or other relationships; residing at the same address as the person; persons using the same devices; persons engaged as a Company Client by the same partner or Client of the Company; and persons engaged in any joint activity with or without the formation of a legal entity. The Company reserves the right to expand the list of situations and attributes in which the Client and third parties may be recognized as affiliated;
7.4.4 if there is sufficient evidence to suggest that the Client unlawfully attempted to use the software provided by the Company and the funds transferred to the Company's account;
7.4.5 for damage caused to the Company as a result of extracting income from the use of the technical features of the quote stream update on the trading terminal and of extracting income from the use of software errors and vulnerabilities in the trading terminal;
7.4.6 for damage caused to the Company by the Client's use of insider, confidential, or other information that provided the Client with any kind of advantages in concluding trades with the Company. The Company has the right to debit these losses from the Client's account and/or the accounts of other persons (if it is established that these accounts belong to the Client (or the Client's accomplices) using the Company's technical and other equipment and tools). The Company also has the right to block the further transactions on the trading terminal and the dashboard for Clients in respect to whom the Company has sufficient grounds and suspicions to classify their actions (including joint actions with other Client's) as aimed at causing damage to the Company and to debit the funds from the Client's account in favor of the Company.