DORMANT ACCOUNTS POLICY

LIONSMAN CAPITAL MARKETS (CYPRUS) LTD (“the Company”) is an Investment Firm incorporated and registered under the laws of the Republic of Cyprus, with registration number HE 279944. The Company is authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission (hereinafter referred to as “CySec”) and subject to CySec rules, with CIF license number 175/12.  The Company does its utmost to ensure the privacy, confidentiality and security of its clients are preserved both throughout their interaction with the company and afterwards, to the fullest extent achievable by the Company.

The Company provides services through the use of numerous platforms and under the domain of www.OptionWeb.com (hereinafter referred to as “Optionweb.com”). 

The Dormant Accounts Policy applies to all clients equally whether they are former, present or future clients of the Company.

A.                Definition of Dormant Account

An account shall be considered as dormant, in the absence of any trading activity for a period of at least one (1) year.

B.                Access to Client Account

Once an account is treated as Dormant, the Client will be informed accordingly. Dormant Accounts can be re – activated upon confirmation by the client and provision/review of the available documents and ensuring that all due diligence and KYC documentation procedures have been followed. If the Client wishes to make a deposit and start trading again, they will have to provide updated documentation.

The Client acknowledges and confirms that Lionsman Capital Markets (Cyprus) Ltd has the right to “reset” the Password, for security purposes, if the trading account(s) has been inactive for some time and/or has been treated as a Dormant Account.

C.                Charges

The Company reserves the right to charge a fixed administration fee of € 5 (five Euros) per quarter in order to maintain the account, on the condition that the Client account has the available funds. The administration fee shall be deducted from the Client’s account on the last day of the period of which the account becomes dormant.

The Company strives to ensure and keep correspondence with each respective Client and will inform the Client by email that their account will be treated as Dormant Account.

The Client further acknowledges and confirms that for re-activation of dormant accounts, the Client is required to have the required funds, as per the Company’s main Terms and Conditions.

If the Client account does not have the necessary funds for the administration fee and has remained inactive for a period of 12 months, the Company reserves the right to charge a lower amount to cover administrative expenses and close the account completely.

For any information regarding the closure of accounts, you can contact Lionsman Capital Markets (Cyprus) Ltd at [email protected]