Client Agreement for Trading On Options Rider
1.1. The Agreement is entered by and between Options Rider (hereinafter called the “Company”) on the one part and the Client (which may be a legal entity or a natural person) who has completed the Account Opening Application Form and has been accepted by the Company as a Client (“Client”) on the other part.
1.2. The Company is authorized and regulated by the New Zealand Securities and Exchange Commission to offer certain Investment and Ancillary Services and Activities under the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law of 2007, Law 144(I)/2007, as subsequently amended or replaced from time to time (“the Law”).
1.3. This Client Agreement with the following documents found on the Company/s Website, as amended from time to time: Client Categorization Policy, Investor Compensation Fund, Risks Disclosure and Warnings Notice, Summary of Best Interest and Order Execution Policy, Summary of Conflicts of Interest Policy (together, the “Agreement”) set out the terms upon which the Company will offer Services to the Client. In addition, the various documents above sets out the matters which the Company is required to disclose to the Client under the Applicable Regulations.
1.4. The Agreement overrides any other agreements, arrangements, express or implied statements made by the Company or any Introducer(s).
2. Interpretation of Terms
2.1. In this Agreement:
“Access Data” shall mean the Login and Password of the Client, which are required so as to have access on and use the Platform.
“Account Opening Application Form” shall mean the application form/questionnaire completed by the Client in order to apply for the Company/s Services under this Agreement and a Client Account, via which form/questionnaire the Company will obtain amongst other things information for the Client/s identification and due diligence, his categorization and appropriateness or suitability (as applicable) in accordance with the Applicable Regulations.
“Affiliate” shall mean in relation to the Company, any entity which directly or indirectly controls or is controlled by the Company, or any entity directly or indirectly under common control with the Company; and “control” means the power to direct or the presence of ground to manage the affairs of the Company or entity.
“Agreement” shall mean this “Client Agreement” and the following documents found on the Company/s Website: the Client Categorization Policy, Investor Compensation Fund, Risks Disclosure and Warnings Notice, Summary of Best Interest and Order Execution Policy, Summary of Conflicts of Interest Policy, as amended from time to time and any subsequent Appendices added thereto.
“Applicable Regulations” shall mean any rules of a relevant regulatory authority having powers over the Company; (b) the Rules of the relevant Market. “Binary Option” shall mean the Financial Instrument traded under this Agreement, which allows the traders to earn a fixed amount if they correctly predict whether the value of the Underlying Asset will reach above or below the Strike Price when it expires. If traders incorrectly predict the direction of the asset/s value, they lose their investment.
“Business Day” shall mean any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January or any other international holidays to be announced on the Company/s Website.
“Call Option” shall mean the one of the two option choices in Binary Options trading. If a trader believes that the value of the Underlying Asset will reach a higher value at the time of expiry, then they can purchase a call option.
“Client Account” shall mean the exclusive personalized account of the Client consisting of all the Open Positions and Orders of the Client the balance of the Client money and deposit/withdrawal transactions of the Client money.
“Event of Default” shall have the meaning given in paragraph 24.1.
“Financial Instrument” shall mean the Financial Instruments under the Company/s FSP license which can be found in the document “Company Information” on the Website.
“Force Majeure Event” shall have the meaning as set out in paragraph 27.1.
“Introducer” shall have the meaning as set put in paragraph 35.1.
“Investment Services” shall mean the Investment Services under the Company/s FSP license which can be found in the document “Company Information” on the Website.
“Open Position” shall mean any open option contract (call and / or put) which has not been closed.
“Order” shall mean an instruction from the Client to trade in Binary Options. There are two types of orders in Binary Option trading: Call Option and Put Option.
“Parties” shall mean the parties to this Client Agreement – the Company and the Client.
“Platform” shall mean the electronic mechanism operated and maintained by the Company, consisting of a trading platform, computer devices, software, databases, telecommunication hardware, programs and technical facilities, which facilitates trading activity of the Client in Binary Options via the Client Account.
“Professional Client” shall mean a “Professional Client” for the purposes of Rules, as specified in the Client Categorization Policy found in the Company/s Website.
“Put Option” shall mean one of the two option choices in Binary Option trading. If a trader believes that the value of the underlying asset will drop to a lower value at the time of expiry, then they can purchase a put option.
“Retail Client” shall mean a “Retail Client” for the purposes of the Rules, as specified in the Client Categorization Policy found in the Company/s Website.
“Services” shall mean the services to be offered by the Company to the Client under this Agreement, as set out in paragraph 6.1.
“Strike Price” shall mean the he price at which the owner of an option can purchase (call) or sell (put) the Underlying Asset.
“Underlying Asset” shall mean the object or underlying asset in a Binary Option which may be Currencies, Equity Indices, Metals, Forwards, Commodities, Stocks and Indices, Futures. It is understood that the list is subject to change and clients must refer each time on the Platform.
“Underlying Market” shall mean the relevant market where the Underlying Asset is traded.
“Website” shall mean the Company/s website at www.optionsrider.com or such other website as the Company may maintain from time to time.
“Written Notice” shall have the meaning set out in paragraphs 23.3. And 23.4.
2.2. Words importing the singular shall import the plural and vice versa. Words importing the masculine shall import the feminine and vice versa. Words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.
2.3. Paragraph headings are for ease of reference only.
2.4. Any reference to any act or regulation or Law shall be that act or regulation or Law as amended, modified, supplemented, consolidated, re-enacted or replaced from time to time, all guidance noted, directives, statutory instruments, regulations or orders made pursuant to such and any statutory provision of which that statutory provision is a re-enactment, replacement or modification.
3. Application and Commencement
3.1. After the Client fills in and submits the Account Opening Application Form, together with all the required identification documentation required by the Company for its own internal checks, the Company will send him a notice informing him whether he has been accepted as a Client of the Company. It is understood that the Company is not to be required (and may be unable under Applicable Regulations) to accept a person as its Client until all documentation it requires has been received by the Company, properly and fully completed by such person and all internal Company checks (including without limitation anti-money laundering checks, appropriateness or suitability tests as the case may be) have been satisfied. It is further understood that the Company reserves the right to impose additional due diligence requirements to accept Clients residing in certain countries.
3.2. The Agreement shall take effect and commence upon the receipt by the Client of a notice sent by the Company informing the Client that he has been accepted as the Company/s Client.
4. Client Categorization
4.1. We shall treat you as a Retail Client for the purposes of the NZFSP Rules and the Applicable Regulations. You have the right to request a different method of categorization as is explained under the Client Categorization Policy found on the Company/s Website. However, if you request a different categorization and the Company agrees to such categorization, you accept that the level of protection that is afforded by NZFSP and other Applicable Regulations may differ.
4.2. It is understood that the Company has the right to review the Client/s Categorization and change his Categorization if this is deemed necessary (subject to Applicable Regulations). The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness and correctness of the information provided by the Client in his Account Opening Application Form and the Financial Suitability Questionnaire. The Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client/s Categorization and change his Categorization if this is deemed necessary (subject to Applicable Regulations).
5.1. In providing the Service of Reception and Transmission and Execution of Client Orders, the Company is obliged under Applicable Regulations to seek information from a Client or potential Client regarding his knowledge and experience in the investment field relevant to the specific type of service or Financial Instrument offered or demanded, so as to enable the Company to assess whether the service or Financial Instrument is appropriate for the Client. Where the Client or potential Client elects not to provide the information regarding his knowledge and experience, or where he provides insufficient information regarding his knowledge and experience, the Company will not be able to determine whether the service or Financial Instrument is appropriate for him. The Company shall assume that information about his knowledge and experience provided from the Client to the Company is accurate and complete and the Company shall have no responsibility to the Client if such information is incomplete or misleading or changes or becomes inaccurate and the Company will be deemed to have performed its obligations under Applicable Regulations, unless the Client has informed the Company of such changes.
6.1. Binary Options trading with the Company involves the provision of the following investment and ancillary services from the Company to the Client, subject to the Client/s obligations under the Agreement being fulfilled:
(a) Reception and transition of Orders of the Client in Binary Options.
(b) Execution of Orders in Binary Options.
(c) Cash/collateral management, according to paragraph 16.
(d) Foreign Currency Services provided they are associated with the provision of the reception and transmission service of paragraph 6.1.(a) and (b) of the Agreement.
6.2. The Company reserves the right, at its discretion, at any time to withdraw the whole or any part of the Services or types of Binary Options or Underling Assets on a temporary or permanent basis and the Client agrees that the Company will have no obligation to inform the Client of the reason.
6.3. It is understood that the Company shall not hold any Client assets or Financial Instruments of the Client and shall not be providing safekeeping and administration of Financial Instruments for the account of Client or custodianship.
7. Advice and Commentary
7.1. The Company will not advise the Client about the merits of a particular Order or give him any form of investment advice and the Client acknowledges that the Services do not include the provision of investment advice in Binary Options or the Underlying Markets or Assets. The Client alone will decide how to handle his Client Account and place Orders and take relevant decisions based on his own judgment.
7.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client may wish to seek independent advice before entering into a Transaction.
7.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website, or provide to subscribers via its Website or otherwise) with information, recommendations, news, market commentary or other information but not as part of its Services to the Client. Where it does so:
(a) The Company will not be responsible for such information.
(b) The Company gives no representation, warranty or guarantee as to the accuracy, correctness or completeness of such information or as to the tax or legal consequences of any related Transaction.
(a) This information is provided solely to enable the Client to make his own investment decisions and does not amount to investment advice or unsolicited financial promotions to the Client.
(b) If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he will not pass it on to any such person or category of persons.
(c) The Client accepts that prior to dispatch, the Company may have acted upon it itself to made use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he will receive such information at the same time as other clients.
7.4. It is understood that market commentary, news, or other information provided or made available by the Company are subject to change and may be withdrawn at any time without notice.
8. License and the Platform Trading
8.1. Subject to the Client/s obligations under the Agreement being fulfilled, the Company hereby grants the Client a limited License, which is non-transferable, non-exclusive and fully recoverable, to use the Platform (including the use if the Website and any associated downloadable software available from time to time) in order to place Orders in Binary Options.
8.2. The Company reserves the right, at its discretion, at any time to withdraw the whole or any part of the License or the Platform or Website or downloadable software and to alter, change, modify, remove, limit or add any part or functionality or command or mode on a temporary or permanent basis and the Client agrees that the Company will have no obligation to inform the Client of the reason.
8.3. The Company does not guarantee that the Client will be able to access or use the Platform at all times and from any location.
8.4. The Company has the right to shut down the Platform at any time for maintenance purposes without prior notice to the Client, but this will be done only in weekends. In these cases the Platform will be inaccessible.
8.5. The Client is solely responsible for providing and maintaining the compatible equipment necessary to access and use the Platform, which includes at least a personal computer, internet access by any means and telephone or other access line. Access to the internet is an essential feature and the Client shall be solely responsible for any fees necessary in order to connect to the internet.
8.6. The Client represents and warrants that he has installed and implemented appropriate means of protection relating to the security and integrity of his computer and that he has taken appropriate actions to protect his system from computer viruses or other similar harmful or inappropriate materials, devices, information or data that may potentially harm the Website, the Platform or other systems of the Company. The Client further undertakes to protect the Company from any wrongful transmissions of computer virus or other similarly harmful or inappropriate material or device to the Company Platform from his personal computer.
8.7. The Company will not be liable to the Client should his computer system fail, damage, destroy and/or format his records and data. Furthermore, if the Client incurs delays and any other form of data integrity problems that are a result of his hardware configuration or mismanagement, the Company shall not be liable.
8.8. The Company will not be liable for any such disruptions or delays or problem in any communication experienced by the Client when using the Platform.
8.9. Orders with the Company are placed only with the use of Access Data on the Platform, through the Client/s compatible personal computer connected to the internet. It is agreed and understood that the Company will be entitled to rely and act on any Order given by using the Access Data on the Trading Platform without any further enquiry to the Client and any such Orders will be binding upon the Client.
9. Intellectual Property
9.1. The Platform, all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme, graphics and data names are the sole and exclusive Intellectual Property (IP) of the Company and are protected by local and international intellectual property laws and treaties. This Agreement does not convey an interest in or to the Platform but only a right to use the Platform according to the terms of this Agreement. Nothing in this Agreement constitutes a waiver of the Company/s intellectual property rights.
9.2. Under no circumstances shall the Client obscure or remove any copyright, trademark or any other notices from any of the Company/s IP or Website or Platform.
9.3. The Company owns all the images displayed on its Website, the Platform and downloadable software and material. The Client may not use these images in any way other than the manner which the Company provides them for.
9.4. The Client is permitted to store and print the information made available to him through the Company/s Website or Platform including documents, policies, text, graphics, video, audio, software code, user interface design or logos. The Client is not permitted to alter, modify, publish, transmit, distribute, otherwise reproduce commercially exploit that information, in whole or in part, in any format to any third party without the Company/s express written consent.
9.5. The Client represents and warrants that he will not use the IP or the Platform or Website in contravention to this Agreement, or for unauthorized or unlawful purposes and that he will use the IP, Platform and Website only for the benefit of his Client Account and not on behalf of any other person.
10. Prohibited Actions on the Platform
10.1. It is absolutely prohibited for the Client to take any of the following actions:
(a) Use any software, which applies artificial intelligence analysis to the Company/s systems and/or Platform.
(b) Intercept, monitor, damage or modify any communication which is not intended for him.
(c) Use any type of spider, virus, worm, Trojan-horse, time bomb or any other codes or instructions that are designed to distort, delete, damage or disassemble the Platform or the communication system or any system of the Company.
(d) Send any unsolicited commercial communication not permitted under applicable law or Applicable Regulations.
(e) Do anything that will or may violate the integrity of the Company computer system or Platform or cause such system(s) to malfunction or stop their operation.
(f) Unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that the Company has applied to the Platform.
(g) Any action that could potentially allow the irregular or unauthorized access or use of the Platform.
(h) Unlawfully log into the platform and execute an order to buy or sell a Financial Instrument from a location or IP address originating from a region or jurisdiction where it is not allowed for regulatory reasons.
10.2. Should the Company reasonably suspect that the Client has violated the terms of paragraph 10.1., the Company is entitled to take one or more of the following counter measures of paragraph 14.2.
11. Safety of Access Data
11.1. The Client agrees to keep secret and not to disclose his Access Data to any person.
11.2. The Client should not write down his Access Data. If the Client receives a written notification of his Access Data, he must destroy the notification immediately.
11.3. The Client agrees to notify the Company immediately if he knows or suspects that his Access Data has or may have been disclosed to any unauthorized person. The Company will then take steps to prevent any further use of such Access Data and will issue replacement Access Data. The Client will be unable to place any Orders until he receives the replacement Access Data.
11.4. The Client agrees that he will co-operate with any investigation the Company may conduct into any misuse or suspected misuse of his Access Data.
11.5. The Client acknowledges that the Company bears no responsibility if unauthorized third persons gain access to information, including electronic addresses, electronic communication, personal data and Access Data when the above are transmitted between the parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
11.6. If the Company is informed from a reliable source that the Access Data of the Client may have been received by unauthorized third parties, the Company may, at its discretion without having an obligation to the Client, deactivate the Client Account.
12. Execution of Orders
12.1. Orders placed on the Platform are executed according to the Summary of Best Interest and Order Execution Policy, found on the Company/s Website.
12.2. The Company will use reasonable efforts to execute an Order, but it is agreed and understood that despite the Company/s reasonable efforts transmission or execution may not always be achieved at all for reasons beyond the control of the Company.
12.3. Execution/Target price: The execution/target price can take a value between the Bid and the Ask price of the underlying reference price at the time of execution.
12.4. Slippage: Slippage may occur at the time that an Order is presented for execution, where the specific price showed to the client may not be available in the market and therefore the Order will be executed close to or a number of pips away from the client/s requested price. So, slippage is the difference between the expected price of an order and the price the order is actually executed at.
13. Decline of Client/s Orders
13.1. Without prejudice to any other provisions herein, the Company is entitled, at any time and at its discretion, without giving any notice or explanation to the Client to restrict the Client/s trading activity, to cancel Orders, to decline or refuse to transmit or execute any Order of the Client, and the Client has no right to claim any damages, specific performance or compensation whatsoever from the Company, in any of the following cases:
(a) Internet connection or communications are disrupted.
(b) In consequence of request of regulatory or supervisory authorities of Cyprus or a court order.
(c) Where the legality or genuineness of the Order is under doubt.
(d) A Force Majeure Event has occurred.
(e) In an Event of Default of the Client.
(f) The Company has sent a notice of Termination of the Agreement to the Client.
(g) The system of the Company rejects the Order due to trading limits imposed.
(h) Under abnormal market conditions.
(i) The Client does not hold adequate funds in his Balance for the specific Order.
14. Events of Default
14.1. Each of the following constitutes an “Event of Default”:
(a) The failure of the Client to perform any obligation due to the Company.
(b) If an application is made in respect of the Client pursuant to the New Zealand Bankruptcy Act or any equivalent act in another Jurisdiction (if the Client is an individual), if a partnership, in respect of one or more of the partners, or if a company, a receiver, trustee, administrative receiver or similar officer is appointed, or if the Client makes an arrangement or composition with the Client/s creditors or any procedure which is similar or analogous to any of the above is commenced in respect of the Client.
(c) The Client is unable to pay the Client/s debts when they fall due.
(d) Where any representation or warranty made by the Client in paragraph 29 is or becomes untrue.
(e) The Client (if the Client is an individual) dies or is declared absent or becomes of unsound mind.
(f) Any other circumstance where the Company reasonably believes that it is necessary or desirable to take any action set out in paragraph 14.2.
(g) An action set out in paragraph 14.2 is required by a competent regulatory authority or body or court.
(h) The Client involves the Company in any type of fraud or illegality or breach of Applicable Regulations or is at risk of involving the Company in any type of fraud or illegality or breach of Applicable Regulations.
(h) In cases of material violation by the Client of the requirements established by legislation of New Zealand or other countries, such materiality determined in good faith by the Company.
(i) If the Company suspects that the Client is engaged into money laundering activities, or terrorist financing, or card fraud, or other criminal activities.
(j) The Company reasonably suspects that the Client performed a prohibited action as set out in paragraph 10.
(k) The Company reasonably suspects that the Client performed abusive trading such as, but not limited to, scalping, arbitrage, manipulations or a combination of faster/slower feeds.
(l) The Company reasonably suspects that the Client opened the Client Account fraudulently.
14.2. If an Event of Default occurs the Company may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
(a) Terminate this Agreement immediately without prior notice to the Client.
(b) Cancel any Open Positions.
(c) Temporarily or permanently bar access to the Platform or suspend or prohibit any functions of the Platform.
(d) Reject or Decline or refuse to transmit or execute any Order of the Client.
(e) Restrict the Client/s trading activity.
(f) In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country.
(g) Cancel of profits gained through abusive trading or the application of artificial intelligence in the Client Account.
(h) Immediately cancel all trades that were executed by the client.
(h) Take legal action for any losses suffered by the Company.
15. Trade Confirmations
15.1. The Company shall provide the Client with adequate reporting on his Orders. For this reason, the Company will provide the Client with an online access to his Client Account via the Platform, which will provide him with sufficient information in order to comply with rules in regards to client reporting requirements.
15.2. If the Client has a reason to believe that the Confirmation is wrong or if the Client does not receive any Confirmation when he should, the Client shall contact the Company within three Business Days from the date the Company of the Order was sent or ought to have been sent (in the event that a Conformation was not sent). If the Client expresses no objections during this period, the content is considered as approved by him and shall be deemed conclusive.
16. Client Money Handling Rules
16.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company/s own money and cannot be used in the course of its business.
16.2. The Company may hold Client money and the money of other clients in the same account (omnibus account).
16.3. The Company shall not account to the Client for profits or interest earned on Client money (other than profit gained through trading Transactions from his Client Account(s) under this Agreement) and the Client waives all right to interest.
16.4. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
16.5. The Company may deposit Client money with a third party (i.e. intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty) who may have a security interest, lien or right of set-off in relation to that money.
61.6. Client money may be held on the Client/s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty located within or outside Australia. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph.
16.7. The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client/s money, or the third party/s money. In the event of the insolvency or any other analogous proceedings in relation to that third party, the Company may only have an unsecured claim against the third party on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses.
16.8. The Company is a member of the Investors Compensation Fund (ICF). So, depending on his classification, the Client may be entitled to compensation from the ICF in the event that the Company is unable to meet its obligations as explained in the document with the title Investors Compensation Fund, found on the Company/s Website.
16.9. It is understood that profit or loss from trading is deposited in/withdrawn from the Client Account at the end of the Business Day when the Order is completed.
17. Inactive and Dormant Client Accounts
17.1. If the Client Account is inactive for six months or more, the Company reserves the right to charge a monthly account maintenance fee. The exact fee schedule will be calculated according to the currency denomination of the Client Account and is set out as follows: 42 EUR, 42 USD, 42 GBP, 4000 JPY, 80 TRY, 40 CHF, 200 CNY, or 1,600 RUB or as changed by the Company and notified to the Client.
17.2. If the Client Account is inactive for four (4) years or more, and after notifying the Client in its last known address, the Company reserves the right to close the Client Account and render it dormant. Money in the dormant account shall remain owing to the Client and the Company shall make and retain records and return such funds upon request by the Client at any time thereafter.
17.3. In the event of inactivity or dormancy, the company reserves the right to cancel any unused (“active”) bonuses.
18. Initial Activation, Deposits to and Withdrawals from the Client Account
18.1. The Client Account shall be activated upon the Client depositing the minimum initial deposit, according to the type of Client Account, as determined by the Company in its discretion from time to time.
18.2. The Client may deposit funds into the Client Account at any time during the course of this Agreement. Deposits will be made via the methods accepted by the Company from time to time. The Company will not accept third party or anonymous payments in the Client Account. The detailed information about deposit options is shown on the Website.
18.3. The Company shall have the right to request the Client at any time any documentation to confirm the source of funds deposited into the Client Account. The Company shall have the right to reject a deposit of the Client if the Company is not duly satisfied as to the legality of the source of funds.
18.4. If the Client makes a deposit, the Company shall credit the relevant Client Account with the relevant amount actually received by the Company within one Business Day following the amount is cleared in the bank account of the Company.
18.5. If the funds sent by the Client are not deposited in the Client Account when they were supposed to, the Client shall notify the Company and request from the Company to make a banking investigation of the transfer. The Client agrees that any charges of the investigation may be deducted from his Client Account or paid directly to the bank performing the investigation. The Client understands and aggress that in order to perform the investigation the Client shall have to provide the Company with the requested documents and certificates.
18.6. The Company shall effect withdrawals of Client funds upon the Company receiving a relevant request from the Client in the method accepted by the Company from time to time.
18.7. Upon the Company receiving an instruction from the Client to withdraw funds from the Client Account, the Company shall pay the said amount within five (5) Business Days, if the following requirements are met:
(a) The withdrawal instruction includes all necessary information in the Personal Area;
(b) The instruction is to make a transfer to the originating account (whether that is a bank account, a payment system account etc.) from which the money was originally deposited in the Client Account or at the Client/s request to a bank account belonging to the Client;
(c) The account where the transfer is to be made belongs to the Client;
(d) At the moment of payment, the Client/s Balance exceeds the amount specified in the withdrawal instruction including all payment charges;
(e) There is no Force Majeure event which prohibiting the Company from effecting the withdrawal.
(f) The Client and must be fully verified according to Verification guidelines set forth on the website.
18.8. It is agreed and understood that withdrawals will only be effected towards the Client. The Company will not to make withdrawals to any other third party or anonymous account.
18.9. The Company reserves the right to decline a withdrawal request of the Client asking for a specific transfer method and the Company has the right to suggest an alternative.
18.10. All payment and transfer charges of third parties will be borne by the Client and the Company shall debit the relevant Client Account for these charges.
18.11. Withdrawal fees may apply depending on the Client. The applicable fees may be found on the Company/s Website.
18.12. Mistakes made by the Company during transfer of funds shall be refunded to the Client. It is understood that should the Client provide wrong instructions for a transfer, the Company may be unable to correct the mistake and the Client may have to bear the loss.
18.13. If at any time the holder of the account requests a withdrawal for more funds back than the agreed upon monthly amount, the original starting deposit amount of the account shall be returned back to the account holder minus any profits that have been paid out and all other funds left in the account will be forfeited and revert back to Options Rider. At said time the account will then be closed and the client will not be allowed to enter the Managed Accounts Program at a later date.
18.14. If the client at any time causes trouble to Options Rider or any of its Affiliates that Options Rider considers harmful or abusive, Options Rider shall have the right to close the clients account. The original starting deposit amount of the account shall be returned back to the account holder minus any profits that have been paid out and all other funds left in the account will be forfeited and revert back to Options Rider. The client will not be allowed to enter the Managed Accounts Program at a later date.
19.1. The Company shall have a general lien on all funds held by the Company or its Associates or its nominees on the Client/s behalf until the satisfaction of his obligations.
20. Netting and Set-Off
20.1. If the aggregate amount payable by the Client is equal to the aggregate amount payable by the Company, then automatically the mutual obligations to make payment are set-off and cancel each other.
20.2. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied and discharged.
20.3. The Company has the right to combine all or any Client Accounts opened in the Client name and to consolidate the Balances in such accounts and to set-off such Balances in the event of Termination of the Agreement.
21. Fees, Taxes and Inducements
21.1. The Company does not charge trading fees or commissions on the Client.
21.2. Certain withdrawal fees, inactivity of Client Account fees may apply depending on the Client. The applicable fees may be found on the Company/s Website.
21.3. The Company may vary its fees from time to time. The Company will send a Written Notice to the Client informing of any changes, before they come into effect. The variation will take effect from the date which the Company specifies in its notification to the Client.
21.4. It is agreed and understood that the Client shall be solely responsible for all filings, tax returns and reports which should be made to any relevant authority, whether governmental or otherwise, and for payment of all taxes (including but not limited to any transfer or value added taxes), arising out of or in connection with his trading activity with the Company hereunder.
21.5. The Client undertakes to pay all stamp expenses relating to this Agreement and any documentation which may be required for the carrying out of the transactions under this Agreement.
22.1. The Company/s official language is the English language and the Client should always read and refer to the main Website for all information and disclosures about the Company and its activities. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.