TERMS OF BUSINESS
RETAIL CLIENT AGREEMENT
Note: This Retail Client Agreement is drawn up in the English language. In the event any translation of this Retail Client Agreement is prepared for convenience or any other purpose, or there is any conflict between the English version and any subsequent translation into any other language, the provisions of the English version shall prevail.
This Retail Client Agreement, along with any additional terms or policies incorporated herein by reference, as amended from time to time, (hereinafter the “Agreement”) sets out the terms under which all business dealings shall be transacted between the customer (“You”, “Client”) and us, Up Options LLC, having its registered address at First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines. (hereinafter referred to as the “Company”).
For Your benefit and protection, we strongly recommend that You take sufficient time to read the Agreement together with other policies and agreements available via https://www.upoptions.com/legal-documents (the “Site”) carefully prior to accepting the Agreement, and/or opening a trading account, and/or performing any transactions.
If You do not accept this Agreement, please refrain from using the Site, and/or Mobile Apps, and/or opening an account. Your use of the Site, and/or Mobile Apps constitutes acceptance of this Agreement.
Up Options LLC - First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.
1 - DEFINITIONS AND INTERPRETATION
1.1. Unless otherwise provided in this Agreement, the following terms shall have the following meanings:
1.2. For purposes of this Agreement:
1.3. Unless the context otherwise requires, references herein:
1.4. Headings of the Articles shall be used solely for reference and shall not affect the content and interpretation of this Agreement.
1.5. Unless the context otherwise requires, when used herein, the singular shall include the plural, the plural shall include the singular, and all nouns, pronouns and any variations thereof shall be deemed to refer to masculine, feminine or neuter, as the identity of the person or persons may require.
2 - INTRODUCTION
Scope of this Agreement
2.1. This Agreement sets out the terms under which all business dealings shall be transacted between Client and the Company. This Agreement governs every Transaction entered into or pending between the Company and Client upon acceptance of this Agreement by Client.
2.2. The Company does not provide services to citizens and/or residents of the North Korea, USA, Puerto Rico, Canada, Japan, Iran, Iraq, Lebanon and Turkey.
2.3. By accepting this Agreement, Client represents and warrants that Client is neither citizen nor resident of any of the above listed countries.
2.4. This Agreement shall come into force on the date of its acceptance by Client.
2.5. This Agreement constitutes the entire agreement and understanding between the Company and Client and supersedes any and all prior and contemporaneous negotiations and understandings between the Company and Client either oral or written, expressed or implied.
2.6. The Company reserves the right to modify or update any provision of this Agreement at any time for any reason and any such changes to this Agreement will supersede and replace any previous provisions of this Agreement effective immediately upon posting on the Site.
2.7. It is your responsibility to periodically review this Agreement for any changes made. The applicable version at any time shall be the latest version available on the Site. You expressly agree that in case of any disagreements or disputes, the latest version of this Agreement available on the Site at the time of the dispute shall prevail.
2.8. Your continued use of the Site, Mobile Apps and other services offered by the Company after posting the changes to this Agreement will constitute Your acceptance of such changes.
2.9. You should discontinue using the Site, Mobile Apps and other services offered by the Company if You do not agree with any changes to this Agreement.
3 - GENERAL
3.1. Client hereby acknowledges and accepts that:
3.2. Client hereby represents and warrants that:
4 – RIGHTS AND OBLIGATIONS OF THE PARTIES
4.1. Client has a right:
4.2. Client is obliged:
4.3. The Company has a right:
5 - GOVERNING LAW AND DISPUTE RESOLUTION
5.1. This Agreement shall be governed by and interpreted in accordance with the laws of the Saint Vincent and the Grenadines.
5.2. If any dispute, controversy or claim arises out of this Agreement between Client and the Company, Client is strongly encouraged to first contact the Company directly to seek amicable resolution.
5.3. Disputes, controversies or claims arising out of or relating to this Agreement, which have not been amicably resolved between Client and the Company within thirty (30) calendar days, shall be submitted to the non-exclusive jurisdictions of the courts of the Saint Vincent and the Grenadines for the final resolution.
6 - INDEMNIFICATION AND LIMITATION OF LIABILITY
6.1. Client agrees to defend, indemnify and hold harmless the Company, its affiliates and respective directors, officers, employees and agents from and against all claims and expenses arising out of the use (misuse) of the Site, Mobile Apps and Client’s Account.
6.2. Client acknowledges and accepts that the use of our services or any systems owned or used by the Company is entirely at Client’s own risk.
6.3. Client acknowledges and accepts that Client will enter into all and any transactions with the Company at his/her own risk, and the Company assumes no liability for any loss whatsoever as a result of Client’s trading activity with us.
6.4. Notwithstanding any other provision in the Agreement, the Company shall not be liable for any loss or damage caused by the Company or its employees or representatives in the event of:
6.5. The Company shall not be responsible for any delays, delivery failures, or any loss or damage which results from the transmission of information over any network, including but not limited to the Internet.
6.6. Access to the Site and Mobile Apps is provided on an "as is" basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties of merchantability or fitness for a particular purpose, other than those warranties which are implied by and incapable of exclusion, restriction or modification under the laws applicable to this Agreement.
6.7. Neither the Company nor its directors, officers, employees, agents and representative shall be liable for any losses, damages, costs or expenses incurred or suffered by Client resulting or arising from any act or omission made under or in relation to or in connection with the provision of the Services or under this Agreement unless arising directly from the Company’s or Client’s negligence, breach of any duty the Company may owe Client under the regulatory system, bad faith, wilful default or fraud.
6.8. Neither the Company nor its directors, officers, employees, agents and representative shall be liable in contract, tort, negligence, breach of statutory duty or otherwise for any loss, damage, costs or expenses of any nature whatsoever incurred or suffered by Client of an indirect or consequential nature including without limitation any loss of opportunity, loss of profit, loss of business or loss of goodwill.
6.9. Without limitation, the Company does not accept liability for any adverse tax implications of any Client’s Transaction. The Company does not and shall not provide any tax advice, and the Company shall not at any time be deemed to be under any duty to provide such advice.
6.10. Neither the Company nor its directors, officers, employees, agents and representative shall be liable for any delay or change in market conditions before any particular Transaction is carried out.
6.11. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable to Client for the solvency, acts or omission of any third party appointed for the purposes of the provision of Services under this Agreement.
6.12. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable for any loss or damage caused by Client’s reliance on information obtained through the Site. It is the responsibility of Client to evaluate the accuracy, completeness or usefulness of any information, opinion, report or other content available through the Site. Clients should seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, report or other content.
6.13. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable for any losses or damages (whether direct or indirect) caused by changes in regulatory and compliance requirements of the applicable laws and regulations.
6.14. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable for any loss that Client may incur as a result of someone else using Client’s login credentials or Account, either with or without Client’s knowledge. However, Client shall be held liable for losses incurred by the Company or another party due to someone else using Client’s Account or login credentials.
6.15. The information and material contained on the Site is for information purposes only and does not constitute any kind of advice. Such information and material may be incorrect or out of date and should not be considered as a definitive or complete statement of fact. Client should check any information and material on the Site and use his/her own judgement before doing or not doing anything on the basis of such information or material.
6.16. The Company makes no representations or warranties with respect to the Site or its content. All warranties (express or implied) (including without limitation the implied warranties of satisfactory quality and fitness for purpose relating to the Site and/or its content) are hereby excluded to the fullest extent permitted by law. No representations or warranties are given as to the accuracy or completeness of the information or material provided on the Site or any website or webpage to which it is linked.
6.17. Neither the Company nor its directors, officers, employees, agents and representative shall be liable for:
6.18. The Company shall not be liable to Client if Client cannot access the Site properly or at all (wholly or partly) or if some of its features are unavailable to Client due to events outside the Company’s control (which shall include without limitation the performance of any internet service provider, the performance of any internet browser or limitations of the device Client uses to access the Site).
6.19. The Company shall not be liable to Client for any loss or inconvenience suffered due to the unavailability or withdrawal of any content, material or other information from the Site.
6.20. Under no circumstances shall the Company be liable for:
7 - MISCELLANEOUS
7.1. The Company’s official language is the English language. The provision of any information, including marketing material, any translated version of this Agreement and/or any other communication, in a language other than our official language, is provided solely for convenience purposes and the legally binding version shall be the English language version of such documentation. In the event of a dispute, the English version shall prevail.
7.2. Proceeds from Fixed Time Trades may be subject to tax depending on the country where Client resides. Client should seek independent tax advice if Client is unsure on how this may affect him/her, as the Company does not provide any tax advice.
7.3. Client is solely responsible for determining what, if any, taxes apply as well as for collecting, reporting and remitting any applicable taxes to a relevant tax authority.
7.4. Client understands that tax laws are subject to change and in the event they do the Company reserves the right to debit Client’s Account any tax payment which may be levied in relation to Client’s transactions with the Company.
7.5. This Agreement, the terms agreed between the Company and Client with respect to each Transaction, and all amendments to any of such items shall together constitute a single agreement between the Company and Client. Both the Company and Client acknowledge that all Transactions are entered into in reliance upon such fact, it being understood that the Company and Client would not otherwise enter into any Transaction.
Recording of Calls
7.6. The Company may record phone conversations without use of a warning tone to ensure that the material terms of the Services, and any other material information relating to the Services are promptly and accurately recorded. Such records will be the Company’s sole property and shall be accepted by Client as evidence of orders or instructions given by Client.
7.7. The Company’s records shall be used as evidence of all Client’s dealings with the Company in connection with Services. Hereby Client confirms that he/she shall not object to having the Company’s records presented as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer. Client shall not rely on the Company to comply with Client’s record keeping obligations, although records may be made available to Client upon request at Company’s absolute discretion.
Rights and remedies
7.8. The rights and remedies provided under this Agreement are cumulative and not exclusive of those provided by law. The Company shall be under no obligation to exercise any right or remedy either at all or in a manner or at a time beneficial to Client. No failure by the Company to exercise or delay by the Company in exercising any of the Company’s rights under this Agreement (including any Transaction) or otherwise shall operate as a waiver of those or any other rights or remedies. No single or partial exercise of a right or remedy shall prevent further exercise of that right or remedy or the exercise of another right or remedy.
7.9. Without prejudice to any other rights to which we may be entitled, the Company may at any time and without any prior notice to Client write off any amount (whether actual or contingent, present or future) owed by Client to the Company against any amount (whether actual or contingent, present or future) owed by the Company to Client. For these purposes, the Company may ascribe a commercially reasonable value to any amount which is contingent or which for any other reason is unascertained.
7.10. Any part, provision, representation or warranty of this Agreement which is prohibited or which is held to be void or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. Any part, provision, representation or warranty of this Agreement which is prohibited or unenforceable or is held to be void or unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction, to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereto waive any provision of law which prohibits or renders void or unenforceable any provision hereof.
7.11. The Company prohibits current and former, part-time and full-time, employees, current and former business associates, and affiliates of the Company or any of its affiliated entities (“relevant persons”) to register an account on the Site and/or become a client of the Company (either directly or indirectly) without the Company’s prior written consent.
7.12. Should the Company consider that any of relevant persons is trading with the Company without the Company’s prior written consent, the Company shall consider all the trading to be abusive and/or improper trading. In such circumstances the relevant person’s account and all open positions shall be closed immediately and any available balance excluding the initial deposit shall be written off.
7.13. Client agrees to fully indemnify and hold harmless the Company from any and all losses, costs and expenses that Client may suffer as a result of any such errors, omissions or mistakes by Client, Client’s trading manager or any other person trading on Client behalf.
8 - TERM AND TERMINATION
8.1. This Agreement shall come into force on the date of its acceptance by Client.
8.2. This Agreement does not have an ending date but will remain in force until one of the Parties expresses a desire to terminate it.
8.3. Client has the right to terminate this Agreement by providing a written notice to the Company 3 (three) days before the termination. Upon receipt of such notice, a hold will be placed on Client’s Account to allow any then pending transactions to clear.
8.4. All funds appearing on the balance of Client’s Account must be withdrawn or otherwise transferred before closure of Client’s Account is finalized.
8.5. The Company shall terminate the Agreement with immediate effect without any prior notice to Client, notwithstanding any other action, invalidate Transactions and seize funds from the balance of Client’s account(s) where:
8.6. Upon termination, any fees due or any expenses incurred by the Company as a result of the termination of this Agreement should be settled immediately. Unless otherwise agreed in writing, any amount due or outstanding will be directly deducted from Client’s Account.
Technical Terms and Conditions
1. Processing Client’s requests and orders for Transaction execution.
1.1. Processing Client’s requests and orders have the following structure:
1.2. The processing time may vary and depends on the quality of the communication between the Site platform and the server, as well as on the market conditions. In normal market conditions the processing time usually varies between 1-4 seconds. In some cases and market conditions that differ from normal, the processing time can be longer than 4 seconds.
1.3. The server may refuse Client’s request or order in the following cases:
1.4. When working with the Site platform Client may only use one browser tab. If Client uses multiple browser tabs, information and results of Transactions can be adjusted and/or abolished.
1.5. Client acknowledges and accepts that information about Client’s Account balance reflected on the Site platform, and also about Client’s Transactions and their results, is complete and indisputable. Client has no right to demand from the Company to change the information reflected on the Site platform, and has no right to demand from the Company any compensation of any funds which are expected by Client as a result of any Transactions which are not reflected by the Company on the Site.
2.1. Client acknowledges and accepts that the only reliable source of quote flow information is the main server for Clients. The information contained in quotes on the Site platform cannot serve as a reliable source of information about the real quotes flow, as in the case of unstable connection between the Site platform and the server part of the quotes may not reach the Site platform.
2.2. The graphs displayed on the Site platform are indicative. Thus, the Company does not guarantee that the order will be executed at the same prices specified in the Site platform at the time of Client’s Transactions.
2.3. The price displayed on the trading platform is formed by the formula (Bid + Ask)/ 2.
2.4. Non-Market quotation
2.4.1. Non-Market quotation — the price specified in the Site platform without the corresponding price on the market at a given time.
2.4.2. If the Company has executed Client’s request or order at non-market quote, Company is charged with the responsibility for correction of financial transactions between erroneous positions and closing of the actual market price, corresponding to the time of closing of the non-market quotation.
2.4.3. In the event that Client’s request or order to the opening position was executed at a non-market quote, the Company reserves the right to cancel the financial result for such a position.
3. Processing of Client’s orders for position opening
3.1. If the amount of available on the Client’s Account funds is sufficient to open a position — the position will be opened.
3.2. If the size of the available on the Client’s Account funds is insufficient to open a position — the position won’t be opened.
3.3. The Client’s order to open a position is deemed as proceed, and the position is opened only after the corresponding entry in the server log file. Each new position is assigned with a serial number.
3.4. Closing trading position occurs at the current price.
3.5. Company reserves the right, in its sole discretion, to place limits on the turnover and/or number of Client's trades in financial instruments for the last 24 hours based on the current market conditions and liquidity. In case Client exceeds the limit on the turnover and/or number of trades, Company reserves the right to reject/cancel Client's orders/trades, without giving rise to any claim against Company.
4. OTC Assets
4.1. OTC Assets or “over the counter” assets are any assets that traded out of the regular market.
4.2. OTC Assets prices are formed on the basis of information of the Client’s orders received by the Company.
4.3. Client acknowledges that by making deals on OTC Assets, Client understands the essence of the work of OTC Assets.
4.4. Client acknowledges that by transfer of orders to Company on OTC Assets, Client admits that the only reliable source of quoting information is the server that supports Clients.
4.5. Bitcoin and Litecoin Assets are assets that are traded out of the regular market.
4.6. The prices of Bitcoin and Litecoin Assets are based on average quotes provided by cryptocurrency exchanges.
4.7. Client acknowledges that by making deals on Bitcoin and Litecoin Assets, Client understands the essence of the work of Bitcoin and Litecoin Assets.
4.8. Client acknowledges that by transfer of orders to Company on Bitcoin and Litecoin Assets, Client admits that the only reliable source of quoting information is the server that supports Clients.
5.1. If the Company discovers fraud schemes such as:
5.1.1. Fraud associated with credit card transactions and any other ways to remit a balance of credit cards that does not belong to Client;
5.1.2. Fraud associated with the use of software for false trading results;
5.1.3. Fraud associated with errors and system failures for false trading results;
5.1.4. Fraud associated with opening positions in the same financial instrument but in the opposite directions (buy/sell) from different Clients’ accounts.
Client’s Account will be blocked by the Company without the possibility of performing further Transactions through Client’s Account and all payments to Client will be cancelled. The Company reserves the right to inform and involve law enforcement authorities for investigation if any fraudulent methods to obtain payment will be used by Client.
5.2. Any using an unfair advantage or influence (commonly known as cheating), including a decompilation, reverse engineering, any implantations to the client—server relationship, exploitation of bugs, loopholes or errors in software, any hack, database security violation, the use of automated players (also known as ’bots’); or the exploitation of an ’error’ are strictly prohibited by the Company. If such using will be revealed by the Company Client’s Account will be blocked without any prior notice. Client will not be able to use Services anymore, all payments to Client will be cancelled and any Client’s fund and deposit will be seized.
1 - By accessing https://www.upoptions.com/ and using services provided by Up Options LLC, Client acknowledges and consents to his/her personal data being collected and processed by Up Options LLC.
2 – Up Options LLC may collect the following information when you register on https://www.upoptions.com/ or use services provided by Up Options LLC:
3 - When using https://www.upoptions.com/, software applications or services, you may be required to provide personal data that will be used by Up Options LLC to administer https://www.upoptions.com/, applications, client databases, transactions and marketing materials. By voluntarily proving your contact details such as e-mail, telephone, and residential address, you expressly consent to Up Options LLC to contact you using any of these methods.
4 - All personal data collected by Up Options LLC will be treated as confidential and will be used only for the following purposes:
5 - On registration on Site with following address https://www.upoptions.com/. Client will have to provide certain identifying details including, inter alia, for preventing money laundering.
6 - Client undertakes to provide true, accurate and updated information about his identity and is obliged not to impersonate to other natural person. Any change in Client’s identifying details must be notified to Company immediately and in any case not later than the 30th day from the change in such details.
7 - Client’s details which were provided and/or will be provided by Client during receiving of the Services, Client’s registration on the Site and Client’s activity on the Site may be used by Company for sending Company’s advertising content to Client.
8 - Client details which were provided and/or will be provided by Client during the activity on the Site, may be disclosed by Company to official authorities only if required to be disclosed by Company according to any applicable law and at the minimum required extent.
9 - Non-personal data information about Client can be used by Company in any advertising materials.
10 - As a precondition for performing Operations on the Site, Client may be asked to provide certain identifying documents and any other documents required by Company. If such documents are not provided, Company have the right, on its sole discretion, freeze the Client’s Account for any period of time as well as to permanently close the Client’s Account. Without prejudice to the above, Company have the right, at its sole discretion, to refuse in opening of Client’s Account for any person and for any reason, or without any reason.
11 - Company shall not disclose any personal data of existing Clients and former Clients unless Client approved in writing by email such disclosure or unless such disclosure is required under applicable law to verify Client’s identity. The Clients’ information is passed only to Company’s employees dealing with Client’s Accounts. All such information shall be stored by Company on electronic and physical storage media according to applicable law requirements.
12 - Client confirms and agrees that all information in whole or in part concerning Client’s Account and Operations will be stored by Company and may be used by Company in case of dispute between Client and Company.
13 - At its sole discretion, Company have the right, but not obliged, to review and inspect any information provided by Client, for any purpose. It is manifestly stated, and by its signature hereunder Client also agrees, that Company holds neither commitment nor responsibility to Client due to any aforesaid review or inspection of information.
14 - Company will take measures to implement advanced data protection procedures and to update them from time to time for purpose of safeguarding Client’s private information about Client, Client’s Account and Operations.
15 - Upon registration on the Site, Client will be asked to choose a username and password to be used by Client on each future login and for the performance of Operations and receiving of the Company’s Services. In order to protect Clients’ privacy and operation on the Site, sharing registration details (including without limitation, username and password) by Client with other persons or legal entities is strictly prohibited. Company shall not be held responsible for any damage or losses caused to Client due to improper use (including prohibited and unprotected use) or storage of Client’s username and password, including any such use made by a third party, and whether or not known to or authorized by Client.
16 - Any use of the Site and Operation with the Client’s login (email address) and password is Client’s sole responsibility. Company shall not be held responsible for any such use, including for validation that Client is actually operating in Client’s Account.
17 - Client is obliged to forthwith notify the Company’s client support service of any suspicion for unauthorized use of the Client’s Account.
18 - Up Options LLC will keep your personal data for as long as you use https://www.upoptions.com/ and other related services and or as required by applicable laws and regulations.
20 - Cookies Definition: A cookie is a some set of data that often includes a unique identifier that is sent to Client’s computer or mobile phone (referred to here as a “device” browser from a website’s computer and is stored on Client’s device’s hard drive for tracking site usage. A website may send its own cookie to Client’s browser if Client’s browser’s preferences allow it, but, to protect Client’s privacy, Client’s browser only permits a website to access the cookies it has already sent to Client, not the cookies sent to Client by other websites. Many websites do this whenever a user visits their website in order to track online traffic flows. A Client may choose to configure their browser to reject cookies by modifying their browser settings or preferences.
21 - Company’s cookies policy: During the course of any Client’s visit to the Site, the pages viewed, along with a cookie are downloaded to the Client’s device hard drive, into Company’s local storage, and also into the cache memory of the devices and applications used by Client. Cookies stored may determine the path Client took on the Site and used to anonymously identify repeat users of the Site and what pages were most popular for Company’s clients. However, Company protects the Client’s privacy by not storing the Client’s names, personal details, emails, etc. Stored cookies allow the Site to be more user-friendly and efficient for Clients by allowing Company to inspect what information is more valued by Clients versus what isn’t.
The financial products offered by the Company, including Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. Trading CFDs carries a high level of risk since the multiplier tool (leverage) can work both to your advantage and disadvantage. As a result, it may not be suitable for all investors because you may lose all your invested capital. You should not risk more capital than you are prepared to lose. Before trading you should understand the risks involved and take into account your level of experience. You should seek independent advice if necessary.
This Risk Disclosure is written in accordance with the Provision of Investment Services, The Exercise of Investment Activities, The Operation of Regulated Markets and Other Related Matters Law (L. 87(Ι)/2017) and is intended to inform you of the general risks that exist in trading activities on our website and of dealing in the Financial Instruments offered by the Company. You must recognize that these risks entail a chance of losing money while trading. This disclosure is informational and must not be considered a list of all possible risks.
Trading in the Financial Instruments offered through this website is VERY SPECULATIVE AND HIGHLY RISKY and may involve a risk of loss of all your investments. The products offered by the Company are categorized as high-risk complex Financial Instruments and are not suitable for all members of the general public but only for those investors who:
are willing to assume the economic, legal and other risks involved. You should be aware of the risks inherent in trading in these Financial Instruments and be able to bear such risks.
are able to assume financially the loss of their entire investment amount taking into consideration their personal finances, including resources and obligations.
possess the appropriate level of experience and/or knowledge in the specific Financial Instruments offered by the Company. During the process of verifying your account, the Company will apply an Appropriateness Test on the information provided by you. If, based on this information, the Company finds that you do not possess the appropriate level of experience and/or knowledge, you will be informed as such and must understand and accept all associated risks if you decide to continue in the opening of your trading account. It is important for you to ensure that any decision to engage in trading CFDs and other products offered by the Company, is made on an informed basis, and that you understand the nature of the CFDs/products offered and the extent of all the risks associated with CFDs and other products.
Please note that CFDs are leveraged financial products and therefore as such, trading in CFDs using the Company’s ‘multiplier’ (leverage) tool involves high risk of loss as price movements are influenced by the amount of multiplier (leverage) used. For more information, please refer to the Company’s Terms of Business.
1 - Risks Associated with Trading in Financial Instruments
The Financial Instruments offered by the Company derive their value from the performance of the underlying assets/markets. It is important therefore that you understand the risks associated with trading in the relevant underlying asset/market because movements in the performance of the underlying asset/ market will affect the profitability of your trade.
Information on the previous performance of Financial Instruments does not guarantee the same circumstances of its current and/or future performance. The use of historical data does not lead to safe forecast.
Trading in the Financial Instruments offered by the Company can put your capital at risk. These Financial Instruments are categorized as high-risk complex products and you may lose all or part of the amount invested. Trading in the Financial Instruments offered by the Company is not suitable for all categories of investors. Your investment decisions are subject to various markets, currency, economic, political, business risks etc., and will not necessarily be profitable. You acknowledge, and without any reservation accept, that the value of any investment in a Financial Instrument may vary either upwards or downwards. You acknowledge, and without any reservation accept, the existence of a substantial risk of incurring losses and damages as a result of the buying or selling of any Financial Instrument offered by the Company and acknowledge your intent to take such risk.
The Company will not provide you with any investment recommendations or with any advice that is directly or indirectly connected with the trading of Financial Instruments and you acknowledge that the services provided by us do not include investment advice. This includes guidance in relation to underlying assets, the market or specific trading strategies.
You should note that the Company may provide you, from time to time, with useful information about relatable subjects created by third parties BUT the Company does not approve or endorse this information and/or these tools. Such information may be indicative of trading trends or trading opportunities and it should be understood that, by taking any actions as a result of this information/tools, you accept and understand that it can cause loss of all your capital. We don’t accept liability for any such losses resulting from actions taken by you based on information and or tools produced by third parties.
The Company may also provide, at its discretion, information, news, market commentary or any other information through its website, agents or platform but when it does so, it is understood that the information is provided solely to enable you to make your own investment decisions and does not amount to investment advice. You accept that you are solely responsible for the trades you make and that any transaction you enter into is done so based on your own judgment.
Market Risk - Due to the high volatility of the Market, prices of most Financial Instruments traded can vary considerably over the course of a day, which may bring you profit as well as loss. Those Financial Instruments with volatile price movements should be carefully considered as there are higher risks of loss. Prices may fluctuate due to changes in market conditions which is beyond your control and that of the Company and it may not be possible for trades to be executed at the declared prices resulting in losses. The volatility of the market can be effected by, but is not limited to, changes in the supply & demand, national & international policy, geopolitical instability and economical/political events or announcements.
Liquidity Risk - This is the financial risk that for a certain period of time an underlying asset cannot be traded quickly enough in the market without impacting the market price. You must acknowledge that some products offered by the Company may suffer from liquidity strains due to adverse market conditions, and as such, the asset may be volatile and have a higher degree of risk. The volatility may be reflected in a larger spread between the ASK and BID prices, resulting in a change in the price of the product.
OTC/Counterparty Risk - Financial Instruments offered by the Company are Over-the-counter (OTC) or off-exchange traded. This means the trading is done directly between two parties, without any supervision of an exchange. The Company sets the conditions for trading according to its obligations to provide best execution for our clients. OTC/Counterparty risk is the risk that, as there is no exchange market, the derivative transaction may not be closed out of an Open position. Prices quoted are established by dealers which consequently make it difficult to ensure fair pricing to assess exposure to risk.
Foreign Exchange Risk - If a Financial Instrument is traded in a currency other than the currency of your account, changes in exchange rate may affect the value of the transaction negatively resulting in financial losses.
2 - Risks Associated with Trading In CFDs on Cryptocurrencies
The CFDs on Cryptocurrency Services are not suitable for all investors. The CFDs on Cryptocurrency Services are highly complex and as such Clients must always make sure that are fully aware and understand the specific characteristics and risks regarding the said CFDs on Cryptocurrency Services and have extensive knowledge and/or expertise of the CFDs on Cryptocurrency Services and of the underlying assets of the financial instruments offered by the CFDs on Cryptocurrency Services.
Trading on financial instruments offered by the CFDs on Cryptocurrency Services carries a high risk of losing all your invested capital in your trading account and/or in a specific trade.
Trading prices of the financial instruments and underlying assets offered by the CFDs on Cryptocurrency Services carry high volatility and thereby can widely fluctuate or become temporarily or permanently unavailable, therefore Clients should trade carefully and only with funds that they can afford to lose.
The nature of Cryptocurrencies may lead to an increased risk of fraud or cyber-attack, and may mean that technological difficulties experienced by the Company may prevent the access to or use of the CFDs on Cryptocurrency Services.
The financial instruments offered by the CFDs on Cryptocurrency Services have specific distinct risks from financial instruments offered by the Company with underlying assets, currencies or commodities. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrencies are unique kind of currencies, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency.
3 - Risks Associated with Trading in Cryptocurrencies
Virtual currencies are complex and high risk products and as such, you could lose your entire invested capital.
Virtual currencies can widely fluctuate and may result in significant loss over a short period of time. You should not trade in virtual currencies in case you do not have the necessary knowledge and expertise in these products.
When trading virtual currencies, you will have no rights to report to the Cyprus Financial Ombudsman in case of a dispute with the Company.
4 - Technical Risks
We are not responsible for financial losses arising from failure, malfunction, interruption, disconnection or malicious actions of information, communication, electricity, electronic or other systems, which are not the result of gross negligence or willful default of the Company.
When working with the client terminal, you assume the risks arising from:
You must understand that any third-party attacks against the Company’s Systems which result in disruption of services or loss of funds, are not the responsibility of the Company and any liability for resulting losses will not be compensated by the Company.
The Company ensures to take all reasonable measures to deflect such attacks and provide you with a secure and smooth trading experience.
You must understand that when concluding transactions over the phone, you may encounter difficulty getting through to an operator, especially during peak times. It is should be noted that currently, the Company does not accept orders over the phone.
You must understand that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.
You may suffer financial losses caused by the materialization of the above-mentioned risks, and you understand that you shall be responsible for all related losses that you may suffer, assuming that these are not owed to the Company’s gross negligence or willful default.
5 - Abnormal Market Risks
You agree that if market conditions become abnormal the amount of time required to process your orders and/or instructions may increase. Additionally, you agree that orders may not be executed at declared prices and there is a chance that they may not be executed at all.
Abnormal market conditions include but are not limited to: times of rapid price movements, rises or falls in the same trading session to such an extent that, under the rules of the relevant exchange, trading is suspended or restricted, or there is lack of liquidity, or this may occur at the opening of trading sessions.
6 - Risks Associated With The Laws Of Certain Governments
You also assume responsibility for trading and non-trading operations performed within countries where they are restricted or prohibited by law.
Laws regarding financial trading and contracts may be different throughout the world. It is your obligation to make certain that the use of our services is fully compliant with any law, regulation or directive applicable in your country of residence.
The ability to access our website or any related website found from a link on our website does not mean that our services or any related activities are legal under the laws of your country of residence. These services should not be used by anyone in any jurisdiction in which these services are not authorized or unlawful. All users are required and responsible to check trading regulations related directly or indirectly to the Financial Instruments offered by the Company in their respective countries before registering at our trading platform.
7. Risks Associated with Up Options Platform
All of your instructions are sent to our server and executed in order. Therefore, you cannot send a second order until your previous order has been executed. If a second order is received before the first is processed, the second order will be rejected. You assume responsibility for any unplanned trading operation that may be executed if you re-submit an order before being notified of the results of the first order.
You must understand that closing the order window or position window does not cancel a submitted order.
You acknowledge that only the quotes received from our server are authoritative. If there is a problem in the connection between your client terminal and our server, you can retrieve undelivered quote data from the client terminal's quote database.
8 - Communication Risks
You must be aware of the risk that information sent via unencrypted email may be accessed by unauthorized parties.
We are not responsible for financial losses arising from delayed or failed receipt of a Company message.
You are responsible for the security of the credentials for your Personal Area and trading accounts as well as the confidential information that we send you. We are not responsible for financial losses arising from your disclosure of this information to third parties.
9 - Force Majeure Events
We are not responsible for financial losses arising from force majeure events. These events are extreme and irresistible circumstances that are independent of the will and actions of the agreement participants, that cannot be foreseen, prevented, or eliminated, including but not limited to natural disasters, fires, man-made accidents and disasters, emergencies at utility works and on utility lines, DDOS attacks, riots, military actions, terrorist attacks, uprisings, civil unrest, strikes, and the regulatory acts of state- and local government authorities.
10 - Third Party Risks
The financial institution, to which we will pass your money, may hold it in an omnibus account. Hence, in the event of the insolvency or any other comparable proceedings in relation to that financial institution, we may only have an unsecured claim against the financial institution on your behalf, and you will be exposed to the risk that the money received by us from the financial institution is insufficient to satisfy your claims.
It is understood that we execute your orders on an own account basis, i.e. as principal to principal against you; we are the counterparty of all your transactions. For more information please refer to our Terms of Business.
11 - Conflicts of Interest
When we deal with you as a client, our associates, relevant persons or some other persons connected with us may have an interest, relationship or arrangement that is in conflict with your interest as our client.
Continuing from the above point, the following occurrences may give rise to a conflict of interest entailing a material risk of damage to the interests of one or more clients, as a result of providing investment services:
For more information please refer to our Terms of Business.
12 - No Guarantees of Profit
We are unable to:
You receive no such guarantees from us or from any of our affiliates or representatives.
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