Lionsman Capital Markets (Cyprus) Ltd (hereinafter referred to as 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, under CIF license number 175/12. The Company is authorized to provide the investment services specified in these Terms & Conditions (hereinafter referred to as the "Agreement"). This Agreement is relevant for the Client who opens a binary options trading account with the Company.

The domain name www.optionweb.com (hereinafter referred to as the "Website" or "optionweb.com") is owned by the Company.

You must read and accept all terms and conditions of those contained in this Agreement without modifications, which include terms and conditions expressly set forth below and by reference to those incorporated, before you may become a customer of the Company. By continuing to access or use the Website, you agree to follow the terms and conditions of this Agreement as they may apply to you. By clicking 'ACCEPT' or 'I AGREE' or 'CONTINUE' as the case may be, and therefore registering and/or using the Company's Services, you confirm and acknowledge that you have read the terms of use described in the Agreement, that you understand its content and that you agree to be bound by all of its terms and conditions.

This Agreement is effective upon acceptance and registration for newly registering customers and for all existing customers. If you do not agree to be bound by the terms and conditions of this Agreement, you are advised not to use or access our Services and inform us in writing immediately.

 

1. General

 

1.1) This Agreement is entered into by Lionsman Capital Markets (Cyprus) Limited, which is duly registered under the laws of Cyprus under registration number HE279944, its registered address being 18, Evagora Papachristoforou, Petoussis Bros Building, 4^th Floor, 3030, Limassol, Cyprus (hereinafter referred to as "the Company") and the Customer (hereinafter referred to as "You" or "Customer"), to whom the Services shall be offered;

1.2) The Company provides Services in the form of an online system expediting the execution and transaction of Financial Contracts (as defined hereunder) through the use of a platform and under the domain of www.optionweb.com. The Company is engaged in the operation of an online system facilitating the execution of certain transactions of Financial Contracts (as defined hereunder) by using a platform. This Agreement applies to both the Company's Website as well as to the electronic content and/or software currently contained on the Website that supplies you with real time information about the prices of the Financial Contracts (as defined hereunder), as well as with the OptionWeb System (as defined hereunder) for the execution of Financial Contracts (hereinafter referred to as the "Service(s)"), and any other features, content or Services that the Company may add in the future;

1.3) The relationship between the client and the Company shall be governed by this Agreement. As this Agreement is a distance contract, it is amongst others, governed by the Distance Marketing of Consumer Financial Services Law N.24(I)/2004, implementing the EU Directive 2002/65/EC, under which signing the Agreement is not required and the Agreement has the same rights and liabilities as a duly signed contract. In the case where You, the Customer, wish to have a signed Agreement, then the Customer should print and send 2 (two) copies to the Company, where the Company will sign and stamp the Agreements and send a copy back to the Customer.

1.4) The Agreement describes the terms and conditions with which the Company offers access to its Website to You, the customer, and the use of its Services (the "Agreement").

1.5) This Agreement describes the terms, conditions and risks applicable to your use of our Services available from the Company's Website. If You have any questions regarding this Agreement please contact Customer Support.

1.6) In the event of change and/or modifications in regulatory requirements, the English version of OptionWeb’s Terms &Conditions shall prevail over all other translated versions available in the languages supported on the Website. The Client shall receive notification of such changes and/or modifications, should they be applied.

 

2. Definitions

 

Capitalized terms shall have the following meaning unless otherwise stated in the Agreement:

"Access Codes" shall mean any credentials provided by the Company for accessing the Company's trading platform or credentials used by the Customer to access the Company's Customer Account;

"Agreement" shall mean this present Agreement between the Customer and the Company, which also includes the following documents located on the Website:

 

1. Conflicts of Interest Policy,
2. Client Categorization Policy,
3. Privacy Policy,
4. Investor Compensation Fund, which only applies to Retail clients,
5. Risk Disclosure Statement,
6. Order Execution Policy, and
7. Complaints Handling Policy, and any other provisions that the Company may publish on our Website from time to time.

"Binary Options" shall mean an option which offers a fixed return predetermined at the onset of the Contract; 

"Business Day(s)" or "Trading Day(s)" shall mean any time from Sunday 07:00 am GMT ending Friday at 21:00 GMT;

“Cash offers” shall mean real money granted to the Client by OptionWeb that can be withdrawn at all times, unless other specific conditions are applicable;

"Collateral" shall mean the initial sum deposited by you with the Company after the deduction of losses, deduction of funds withdrawn by yourself, plus profits derived from transactions;

"Contract Price" shall mean an indicative rate as shall be offered by the System by various information systems, which form the rates offered by the System as the current updated rates for contracts of the applicable nature of the financial market;

"Customer" or "Client" shall mean any natural or legal person to whom the Company provides investments and/or ancillary services;

"Customer Account" shall mean any and all accounts opened by the Company for the Customer under the Agreement for the purpose of trading;

"CySEC" shall mean the Cyprus Securities and Exchange Commission, with its offices at: 27 Diagorou Str. CY-1097 Nicosia, Cyprus;

"Financial Contract" shall mean a contract which enables purchase of Binary Options or any other financial offering that the Company may offer by its System occasionally;

"Market" or "Markets" shall mean the international financial markets, commodities and other applicable markets, where contract rates are being fixed upon free trade, and any other related markets where various financial assets are traded;

"Real funds" or "Real money" shall mean all funds/money present in the Client’s account balance minus (-) active bonuses and/or trading margin;

"Rules" and "Regulation" shall mean the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007) as subsequently amended as well as any Directives and Consultation Papers issued by CySEC;

"System" shall mean an electronic system designated to facilitate trading in Financial Contracts via the internet using the optionweb.com platform as defined above and which is subject to all terms of this Agreement;

"Trading margin" (hereinafter referred to as "Margin") shall refer to a predefined amount of funds credited by the Company to the Client’s trading account. Under no circumstances can this Margin be withdrawn. Furthermore, Margin shall be cancelled should the Client make a withdrawal request of other funds present in the account. Notwithstanding, Margin entails no applicable fees upon such withdrawal of other funds; all profits generated from Margin belong to the Client and may be withdrawn at the Client’s discretion.

"Transaction" shall mean purchase/sale of a Financial Instrument for a fixed price.

"Turnover" shall mean the total sum of invested funds in all positions opened by the Client, regardless of the outcome of these positions. "Turnover" may also be referred to as "trading volume". All positions that are sold or cancelled before the chosen expiry times are excluded and shall not be considered as turnover.

 

3. Online Services Agreement

 

3.1) This Agreement is made by and between the Company through its Website, OptionWeb.com, and You.

3.2) The financial instruments to be provided by the Company to the Customer are Binary Options.

3.3) The Company is authorized to provide the following:

3.3.1) Reception and transmission of orders; and/or

3.3.2) Execution of orders on behalf of Customers in relation to the Financial Instruments below:

(a) Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivative instruments, financial indices or financial measures which may be settled physically or in cash;

(b) Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash at the option of one of the parties (otherwise that by reason of a default or other termination event);

(c) Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market or/and an MTF;
(d) Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in paragraph (c) above and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognized clearing houses or are subject to regular margin calls. As well as any other features, content or Services the Company may add in the future (the "Services").

 

4. Membership Eligibility

 

4.1) The Services are available only to and may be used by companies or individuals who are eligible to form legally binding contracts under the laws applicable to their country of residence. Without limiting the foregoing, our Services are not available to persons under the age of 18 or otherwise under legal age ("Minors"). If you are a Minor, You may not use this service. If you do not qualify, do not use our Website.

4.2) The Customer has the right to use a written and signed Power of Attorney to authorize a third party (hereinafter referred to as the "Representative") to act on behalf of the Customer in all business relationships with the Company as defined in this Agreement. This written and signed Power of Attorney should be provided to the Company, in addition to all required identification documents of the Representative. If there is no expiry date on the Power of Attorney, this shall be considered valid until written notification of termination by the Client.

4.3) For the avoidance of doubt, the Company shall not be responsible for any unauthorized use of our Services by anyone in any manner or way.

4.4) Furthermore, our Services are available only to and may only be used by individuals who have sufficient experience and knowledge in financial matters to be evaluating the ability of merits and risks of acquiring financial instruments via this Website and have done so without relying on any information contained in this Website. You shall bear sole responsibility for any decision made and / or made by you relying on the content of the Website. In cases where the client or potential client elects not to provide the information regarding his knowledge and experience, the investment firm shall not be in the position to determine whether the service or product envisaged is appropriate for him.

4.5) Without derogating from the provision above, the Company shall categorize the Client as Retail Client in relation to Investment and ancillary services offered to him, as per the Client Categorization Policy. This categorization provides the highest level of protection compared to a Professional Client.

4.6) Without limiting the foregoing, our Services are not available where they are illegal to use, and the Company reserves its discretionary powers to refuse and / or cancel Services to anyone at its own discretion.

4.7) In order for the Customer to be able to start using the System to execute Transactions, You shall be required to transfer money to an account designated by the Company, to be used as Collateral for the Transactions described herein.

4.8) When holding Customer's funds the Company shall take every possible measure to safeguard the funds against the use of Customer funds for its own account. These Customer's funds shall be kept in any Client's Bank Account which the Company may specify from time to time. The Company will maintain separate records in the accounting system of its own funds/assets and the funds/assets kept on behalf of the Customers so as at any time and without delay to distinguish funds held for one Customer from funds held by any other Customer, and from its own funds/assets.

4.9) Any profits accruing from your Transactions shall become supplementary collateral and shall be added to your account. All losses incurred by the Customer through the Customer's transactions shall be deducted from the Customer's account. No interest in the Customer's credit balance shall be received.

 

5. Registration Information and Requirements

 

5.1) When you register for the Services, the Company through its Website will ask you to provide identification information.

5.2) The Customer will be provided with Access Codes and You are held responsible for securing your Access Codes for your account with the Website. You are held solely responsible for any act or omission or any damage caused that you may bear, due to any act or omission by you or any irregular or inappropriate use of your account.

5.3) You agree to provide true, accurate, current and complete information about yourself DURING AND FOLLOWING the registration process, and you AGREE not to impersonate any person or entity, misrepresent affiliation with any another person, entity or association, use false headers or otherwise conceal your identity from OptionWeb for any Purpose. If you are registering as a business entity, you hereby declare that You have the authority to bind to this Agreement that entity.

5.4) The Company is under the legal obligation to treat with utmost care and confidentiality all information entrusted by the Client during and after the registration process, as stipulated in the Company’s Disclosure policy and the Privacy Policy.

 

6. Legal Restrictions

 

6.1) Without limiting the foregoing, You understand that laws regarding Financial Instruments vary throughout the World and it is your obligation alone to ensure that You comply fully with any law, regulation or directive, subject to your country of residency, if You intend to use this site. For avoidance of doubt, the ability to access our Website does not necessarily mean that our Services, and / or your activities through it, are legal under the Laws, Regulations or directives relating to your country of residency.

6.2) You hereby declare that the money invested in your account with OptionWeb does not originate from drug trafficking, abduction, or any other criminal or illegal activity.

 

7. Limited License

 

7.1) OptionWeb grants you a non-exclusive, non-transferable and limited personal license to access and use the Website (the "License"). The License is conditioned on your compliance with the continued terms and conditions of this Agreement.

7.2) Every Customer will be provided a unique and confidential identification code, the Access Codes, to be used by the Customer to access and operate their designated account via the internet. It is the personal responsibility of the client to ensure that this Access Code is safeguarded and under these terms and conditions the Customer hereby agrees that they will not hold the Company liable for any unauthorized use of the account.

7.3) All purchasing of Financial Instruments through the System must be in accordance with the latest version of terms and conditions available on the website. The Company reserves its right to change, cancel or amend any part of the terms and conditions. These will come into effect from the date of the amendment and the time that they are inserted into the Website. Confirmation of acquisition of a Financial Instrument occurs when the Financial Contract has been customized and the premium has been calculated and payment has been verified and processed.

7.4) You AGREE not to resell or permit access of the Website to others, through your license and not to copy any materials appearing on the site for resale or for any other purpose to others without prior written consent of the Company.

7.5) For the avoidance of doubt, you shall be responsible and bound for any unauthorized use of the Website, made in breach of this section.

7.6) You agree to use the information received from the information systems for the sole use of OptionWeb for the execution of Transactions inside and within the Site.

7.7) You further AGREE not to use electronic communication or any feature of a Service on the Website for any purpose that is unlawful, tortuous, abusive, intrusive on another individual's privacy, harassing, libelous, defamatory, embarrassing, obscene, hateful or threatening.

7.8) The Company has the right to terminate this Agreement, if the Company believes that any information provided by you, including your e-mail address, is no longer current or accurate, or if you fail to otherwise comply with any term or condition of this Agreement and all rules and guidelines for EACH service or that OptionWeb may establish or believe that You have abused in any way (including but not limited to engaging in a transaction out of market rates) OptionWeb's trading platform.

7.9) Upon such violation, you agree to cease accessing the Website and continuing using the Services and submitting any claims whatsoever. You AGREE that OptionWeb, at its sole discretion and with or without prior notice, may terminate your access to any or all Services, close your open positions, cancel all transactions and remove and discard any information or content within a Service.

7.10) The Company has the right to terminate this Agreement at any time and without notice in case it is suspected by the Company that You conceal your IP through a VPN and /or any other unlawful / illegal measure, in which case You will be considered to be in breach of the terms and conditions of this Agreement. The Company reserves the right to close Your account at any time in such a case and without prior notice.

 

8. Risk Disclosure

 

You agree to use the Website at your own risk.

Without limiting the foregoing, the Services are contained within this Website suitable only for Customers who are able to bear the loss of all the money they invest, and understand the risks and who have experience in taking risks involved in Financial Markets.

The possibility that exists is that You could sustain a loss of all or some of your initial investment and therefore You should not invest money that You cannot afford to lose. You should be aware of the risks associated with all digital options trading, and seek advice from independent financial advisors if You have any doubts or questions.

 

9. Financial Information

 

The Company may make available to you - through one or more of its Services, a broad range of financial information that is internally generated or obtained from agents, vendors or partners ("Third Party Providers"). This includes, but is not limited to, financial market data, quotes, news, analyst opinions and research reports, charts, webinars and other video content, or any other data sources ("Financial Information").

Financial Information provided on this Site is not intended to serve as investment advice. OptionWeb does not endorse or approve the Financial Information, and we make it available to you only as a service for your own convenience.

OptionWeb and its Third Party Providers do not guarantee the accuracy, timeliness, or proper sequencing completeness of the Financial Information, or warrant any results from your use or reliance on the Financial Information.

Financial Information may quickly become unreliable for various reasons including, for example, changes in market exchange requirements or economic circumstances. Neither OptionWeb nor the Third Party Providers are obligated to update any information or opinions contained in any Financial Information, and we may discontinue offering Financial Information at any time without notice.

It is your duty to verify the Reliability of the information on the Site and its suitability to your needs. We exclude liability for any claim, loss or damage of any kind allegedly caused by presented information on the Site or referred to by the Site.

 

10. Links

 

OptionWeb may provide a link to other sites that are controlled or offered by third parties. Such a link to a site or sites is not an endorsement, authorization, sponsorship or affiliation with respect to such site, its owners or its providers.

OptionWeb requires You to ensure that You understand the risks involved in using such sites before retrieving, using, relying upon or purchasing anything via the Internet.

Links to Websites are provided solely for your convenience, and you AGREE that under no circumstances you shall hold the Company linkable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.

 

11. Trading Cancellation

 

The Company reserves the right to, at its sole discretion, refuse, cancel the Services, and / or refuse to distribute profits to anyone for any legitimate reason including, but not limited to:

11.1) Any instance when OptionWeb has reason to believe that a person's activities on the Website may be illegal;

11.2) Any instance where OptionWeb may suffer any tax, regulatory, or pecuniary disadvantage by virtue of anyone's business;

11.3) Any instance where one or more transactions on the Website are judged by OptionWeb to have been performed in violation of this Agreement.

 

12. Withdrawal Procedure

 

12.1) All withdrawal orders must provide the proper set of documentation or any other type of Client authentication as may be required from time to time by Anti Money Laundering (AML) regulations, Credit Card companies and OptionWeb, a prerequisite prior to the execution of a withdrawal order.

12.2) Withdrawal of credit card deposits will depend on the credit card companies' policies and regulations. All credit card withdrawals must be returned to the same credit card that was used when the deposit was carried out. Withdrawals back to a bank account may take up to ten (10) business days, due to additional security procedures and documentation from the Client.

12.3) Withdrawing money back to a bank account through a wire transfer will require more documents than just Anti Money Laundering (AML) regulations.

12.4) Any withdrawal of funds, from your OptionWeb account to a bank account, can only be refunded to the same bank account that the funds were originally received from.

12.5) All withdrawals from OptionWeb take up to five (5) business days from the time of clearance. OptionWeb requests that you provide clearance documentation in accordance with Anti-Money Laundering regulations within 24 hours of creating your account.

12.6) All Customer withdrawals will be carried out in the base currency chosen by the Customer upon registration, i.e. either in EUR, USD or GBP. Where applicable, the Company shall reverse the withdrawal transaction and deposit the amount back to the Client's Account, net of any charges/fees, for the minimum amount of EUR100/USD100/GBP100, charged by the Client's Bank Account Providers. The Company shall cover all fees relating to all withdrawals above 100 EUR/USD/GBP, depending on the Client’s base currency.

12.7) Any withdrawal request for an amount below 100 EUR/USD/GBP will incur service charges of 25 EUR/USD/GBP.

12.8) If a withdrawal is requested before the Client achieves a trading turnover equal to at least one (1) time the requested withdrawal amount, 10% service charges (management fees) of a minimum of 25 EUR/USD/GBP will be applied to the remaining non-traded volume amount.

Example: You wish to withdraw 1,000€ from your trading account before having achieved the required turnover of one time the requested withdrawal amount (in this case 1000€).

With a current turnover of 600€ for example, you can withdraw 600€ at no charge, and the 10% feeshall be calculated based on the remaining 400€ turnover, amounting to a 40€ fee.

Bear in mind that all positions sold or cancelled before their chosen expiry times are excluded and shall not be considered as turnover.

 

13. Limited Liability

 

13.1) The Company shall not be liable for any loss, liability or cost suffered or incurred by the Customer as a result of providing Services as described in this Agreement unless the loss, liability or cost is caused by the Company's gross negligence, willful default or fraud committed while acting on the Client's instructions.

13.2) The Company will not be liable for any loss, liability or cost which the Client may suffer or incur as a result of the negligence, willful default or fraud of any third party (e.g. bank, electronic payment provider etc.), which we have taken reasonable care in appointing.

13.3) Neither the Company nor any third party who acts on the Company's behalf in providing a service to the Client, whether affiliated to the Company or not, nor the Company or its directors, officers, servants, agents or representatives, will be liable to the Client (except in the case of fraud as per paragraph 13.1 above) for any consequential, indirect, special, incidental, punitive or exemplary loss, liability or cost which the Client may suffer or incur due to loss of use, loss of data or loss of profits, emanating from or related in any way to carrying out Transactions or to the use of Services, or for delay in use of Services or incapability of carrying out Transactions or using Services, or for non-provided Services or any information, software, product, Service and additional graphics obtained by the Services, or emanating from any other manner of using of Services either by relying on agreement or by tort, either by absolute liability and/or any other cause; however the loss, liability or cost is caused and regardless of whether it was foreseeable or not.

13.4) The Company is not responsible for any problems or technical malfunction of telephone network or lines, computer online systems, servers or providers, hardware, software, failure due to technical or traffic congestion problems on the Internet or on any of the sites or services.

 

14. Anti-Money Laundering Provisions

 

14.1) No person under any circumstances shall abuse this site for the purpose of money laundering.

14.2) The Company is obliged to follow certain requirements as set out by the European Union, relevant laws and the Regulations by CySEC for the prevention and suppression of money laundering activities. It is thus required by Investment Firms to obtain certain verification documents from the Company's Customers. The Company is required to keep these policies and procedures in place as these have been designed to detect any risk of failure by the Company in order to comply with its obligations under regulatory authority.

14.3) The Company may at its sole discretion request from the Client to inform the Company on how the money being invested has been obtained / accumulated. This process may require proof through certain documentation.

14.4) The Company reserves the right to use Client Information in order to carry out credit, anti-money laundering and fraud prevention checks, to exercise and/or defend the Company's legal rights, and to comply with Applicable Regulations and the requests of regulatory and enforcement authorities in any jurisdiction.

14.5) The Company reserves the right to refuse to do any business with and to reverse the Client’s transactions in accordance with the AML requirements and policies.

14.6) All requested information must be provided upon registration by all traders. The Company may keep all the relevant information that it has acquired for the Customer account opening procedure.

14.7) Payments shall only be accepted if the owner of the OptionWeb account and the owner of the Bank Account from which the payment was carried out are the same person.

14.8) Profits shall be paid only to the individual who INITIALLY registered to open a live trading account.

14.9) When a customer maintains an account by means of telegraphic deposits, only earnings shall be distributed to the holder of the originating bank account. When making deposits in this manner, it is the responsibility of the live trader to ensure that transfers from the trader's account and the registered name of the account owner shall be made to the Company.

14.10) When a customer funds an account by means of credit / debit card, earnings shall be distributed only to the individual whose name appears on the card used for the deposit and shall only be refunded back to the same card.

14.11) The Company may, from time to time and at its sole discretion, require that a customer provide additional proof of identity, depending on but not restricted to the Customer's classification or other means of identity verification required as it deems under the circumstances, and may at its sole discretion suspend the account until such proof has been provided to its satisfaction.

14.12) When the Client deposits funds from a prepaid card, he/she must provide the Company with a recent bank statement of no more than three (3) months. Any profits and/or requested withdrawal amounts can only be distributed back to the Client’s personal bank account, as per the bank statement provided at the time when the deposit was carried out.

 

15. Intellectual Property

 

15.1) All content, trademarks, service marks, trade names, logos and icons are the property of the Company or its affiliates or agents and are protected by Copyright Laws and International Treaties and provisions.

15.2) You agree not to delete copyright notices or any other indications of protected intellectual property rights from materials that You print or download from the Website. You will not obtain any intellectual property rights or any right or license to use the site or materials such as set out other than in this Agreement.

15.3) Images displayed on the Website are the property of the Company and You agree not to upload, post, distribute or reproduce any information, software or material protected by copyright or any other intellectual property rights (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights and the prior written consent of the Company and its affiliates or agents.

15.4) You acknowledge that all intellectual property rights in this site, including but not limited to all patents, copyrights, design rights, trademarks, service marks, trade secrets, know-how, database rights and other rights in the nature of intellectual property rights (whether registered or unregistered) and all applications for the same anywhere in the world, belong to the Company and its affiliates and you shall have no rights in or to the site other than the right to use it in accordance with the terms of this license.

 

16. Indemnification

 

16.1) You acknowledge that you are solely responsible and personally liable for any and all actions and orders to be executed in your account, including the settlement of any Transaction, whether performed by you in person, or through a Power of Attorney, any member of your family, any other third party who has gained access to your account, or by your agent or attorney or the Company's employees carrying out your orders, as Representative, as per paragraph 4.2 above. You further agree that neither the Company nor its employees or anyone on its behalf shall be liable in any way whatsoever to the outcomes or consequences of such actions and/or orders.

16.2) You are responsible for ensuring that you and you alone shall control access to your account, and that no minors are granted access to trading on the System. In any case, you remain fully liable for any and all positions traded on your account, and for any credit card transactions entered into the site for your account. You shall also indemnify the Company in respect to all costs and losses of any kind, whatsoever as may be incurred by the Company as a direct or indirect result of your failure to perform or settle such a transaction.

16.3) You Agree to indemnify and hold harmless OptionWeb and its officers, directors, Employees, and agents and to hold them harmless from and against any and all claims, liabilities, damages, loss, and expenses, including without limitation reasonable attorney's fees and costs. For any Transactions in any way connected with (1) your access to or use of the Website or Services, (2) your violation of the any of the terms of this Agreement, or (3) any breach of the applicable Laws or Regulations that apply to You.

 

17. Term and Termination

 

17.1) The term of this Agreement shall be unlimited; however either party (the Company or the Client) may terminate this Agreement by giving written notice to the other party. During the termination notice, the Customer shall not be able to carry out new transactions. The Company reserves its right to cancel any Transaction, provided a written notice has been sent to the Customer, which has been executed at a price which was not reflective of the real tie price. This may be as a result of the System's error or human error regardless of whether it was under the control of the Company or not. 

17.2) The trading facilities provided by the System, may be halted or suspended at any time without prior notice due to circumstances beyond the Company's control. In such an event, the Company or an authorized party on its behalf may close any open positions You may have (by performing a reverse Transaction) without prior written notice being sent to You, at fair market value reflecting, as closely as possible, the applicable prices of the relevant Contracts. You hereby agree to waive any claims against the Company in these situations.

17.3) In order to proceed with the closing of a trading account, the Client shall notify the Company in writing via email to [email protected], indicating the Client’s formal request to close their trading account.

 

18. Miscellaneous

 

18.1) Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the Republic of Cyprus.

18.2) These terms and conditions of use are governed by and will be construed in accordance with the laws of the Republic of Cyprus ("Cyprus"). By clicking "I accept", you agree to submit to the jurisdiction of the courts of Cyprus in respect to any matters or disputes relating to our website. This website can be accessed worldwide.

18.3) Lionsman Capital Markets (Cyprus) Ltd is located in the Republic of Cyprus and regulated by the Cyprus Securities and Exchange Commission. By clicking "I accept" below and entering our website, you confirm that you agree to be bound by the following terms and conditions of use of our website.

18.4) The Company shall not be liable to the Customer for failure to perform any obligation or discharge any duty owed under this Agreement if the failure results from any cause beyond our control (Force Majeure). Force Majeure shall include the following but is not limited to any cause beyond the Company's control:

18.4.1) Acts of God, war, fire, flood, explosions, strikes or other industrial disputes. Any breakdown, or interruption of power supply, or failure of transmission or communication or computed facilities or other strikes or similar industrial action or hacker attacks or other illegal actions on the Company's trading server;

18.4.2) The suspension, liquidation or closure of any market or the abandonment or failure of any event to which the Company relates to, or the imposition of limits or special or unusual terms on trading in any such market or on any such event.

18.5) The Company reserves its right to amend the terms and conditions of this Agreement from time to time by posting the amended terms on the Website. You are responsible for checking whether the amended Agreement has been made. Any amendment shall come into force of the day as it was published on the Website. If you do not agree to be bound by the terms and conditions of this Agreement, you are advised not to use or access our Services, and inform us in writing immediately.

 

 19. Bonus Terms & Conditions

 

19.1) Bonus conditions stipulated as follows shall always prevail unless otherwise agreed upon in writing, or specified otherwise in the framework of an offer.

19.2) Please read the following Bonus Terms & Conditions carefully before accepting a special offer, trade refund, benefit, or bonus. OPTIONWEB.COM DOES NOT RECOMMEND TAKING OR ACCEPTING A BONUS UNLESS YOU KNOW HOW TO USE IT TO YOUR ADVANTAGE.

19.3) The Company offers bonuses to its registered customers ONLY. A bonus is an offer that is limited to a predefined period of time, and serves one time only; the terms and conditions associated with any benefit rewards are subject to change.

19.4) For the avoidance of doubt, bonuses are granted solely upon the request and formal approval of the client. Unless specified otherwise in the framework of a special offer, bonuses are under no circumstances mandatory.

19.5) OptionWeb reserves the right to refuse, cancel or change the bonus without any prior notice.

19.6) The maximum net cumulated bonus amount is 4000 EUR/USD/GBP (this condition is not applicable to Gold accounts and above).

19.7) The amount of one single bonus can reach a maximum of 100% of the total amount of real money present in the OptionWeb account at the time the bonus is granted, unless otherwise agreed upon in writing, or specified otherwise in the framework of an offer.

19.8) Bonuses can only be withdrawn after trading a volume 40 times the bonus value, unless specified otherwise in the framework of an offer. For example if a $50 bonus is received, a total trading turnover of $2000 must be achieved by the trader before the bonus can be withdrawn. (Positions that are sold or canceled before expiry are excluded and cannot be considered as a valid turnover).

19.9) A bonus can only be withdrawn in its entirety.

19.10) In the case of several bonuses granted in the framework of separate offers, bonuses can only be withdrawn in the order in which they were granted.

19.11) When a Client opens a position, priority shall be given to the real money present in the trading account. In case of loss, the invested amount is first deducted from the initial deposit amount; in case of further loss, the invested amount shall be deducted from the bonus amount.

19.12) In the case that, after all positions have reached expiry, the client’s account balance is strictly below 5 EUR/USD/GBP, all active bonuses shall be canceled.

19.13) The bonus will be paid in the base currency the Client selected upon registration only.

19.14) In the case that part of or the entire deposit amount based on which the bonus was given be withdrawn before the minimum required volume of 40 times the bonus amount has been achieved, the following measures shall be applicable:

• All the active bonuses shall be cancelled;
• All losses shall be deducted from the real money present in the Client’s trading account;
• A 3% service charge shall be applied to the total remaining amount after the bonus has been deducted from the Client’s OptionWeb account balance.
• A period of fifteen (15) business days will be necessary to examine the Client’s case.

 

Example 1:

Type of transaction	Amount	Total  Balance	Turnover
Deposit	5000	5000	0
Bonus	3000	8000	0
Order 1 - profit	1000	8750	1000
Order 2 - profit	500	9125	1500
Order 3 - loss	-500	8625	2000
Order 4 - profit	2000	10125	4000
Order 5 - loss	-1000	9125	5000
Order 6 - profit	2000	10625	7000
Withdrawal	10625
Cancel Bonus	-3000	7625
Service Charge 3%		228.75
Withdrawal Amount		7396.25

 

Example 2 :

Type transaction	Amount	Total  Balance	Turnover
Deposit	3000	3000	0
Bonus	3000	6000	0
Order 1 - loss	-1000	5000	1000
Order 2 - loss	-500	4500	1500
Order 3 - profit	1000	5250	2500
Order 4 - profit	300	5475	2800
Withdrawal	5475
Cancel Bonus	-3000	2475
Service Charge 3%		74.25
Withdrawal Amount		2400.75

 

19.15) ALL BONUS INSERTIONS ARE FINAL.

19.16) The client’s trading account must be fully verified and activated with supporting documents in order to be eligible for a bonus.

19.17) The client should provide all necessary documentation to prove that he is entitled to receive a bonus offer.

19.18) ALL BONUSES REQUIRE A CERTAIN TURNOVER BEFORE THEY CAN BE WITHDRAWN BY THE CLIENT. BY ACCEPTING A BONUS, THE CLIENT ALSO ACCEPTS TO BE BOUND TO ALL THE AFOREMENTIONED BONUS TERMS AND CONDITIONS WITHOUT EXCEPTION.

 

20. Required supporting documents

According to the relevant laws of the Republic of Cyprus, all those registered on optionweb.com must provide the following documents prior to the opening of a trading account:

• Valid ID/ Passport: National Identification / citizen card (front and back copies) / Passport / (UK ONLY: Driver’s license)
• Proof of residence issued in the last 3 months (utility bill, telephone, internet, electricity, etc. - Name, postal address, date and logo/official stamp must be clearly visible on the document)
• Photocopy of means of payment (credit card – front and back copies) hiding the middle eight digits, e.g. (1234-xxxx-xxxx-4321) and the cryptogram/CVV on the back.

Please note that additional proof of identity, depending on but not restricted to the Client's classification or other means of identity verification, might be required in order to fully comply with the relevant regulations, such as a notarized copy of a passport. Your account may be suspended until such proof has been provided.

You must provide true, complete and accurate information and provide the documents within the 24 hours following registration. In case of any changes, these must be submitted to OptionWeb immediately. The provision of false information shall be considered an offense and shall result in the immediate cessation of any activity and the suspension of your account.

In the absence of supporting documents, no withdrawal of funds can be made. Any request for withdrawal may only be processed back to the account belonging to the depositary.

An agent will contact you to fully activate your account.

BEAR IN MIND THAT UNLESS ALL REQUIRED SUPPORTING DOCUMENTS HAVE BEEN VERIFIED AND VALIDATED, CLIENTS WILL NOT HAVE THE POSSIBILITY TO MAKE ANY TRANSACTIONS AND/OR OPEN POSITIONS.

 

21. Outside Execution System

Non-authorized Automatic or semi-automatic trading mechanisms integrated by the Client in the browser or Client side that do not involve human execution shall be considered back door API or system abuse that may result in account suspension and/or position cancellation.

Positions that were taken in this manner, resulting in prices that wouldn’t have been accepted or filled in the general market, shall therefore be considered as off-market transactions, which shall result in the cancellation of such positions.