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- Client agreement
This agreement (hereinafter referred to as Agreement) establishes and regulates all relationships between Coylton Services LP (hereinafter referred to as Company) and each its client (hereinafter referred to as Client). Agreement may be amended from time to time. By signing this Agreement the Client confirms its consent to all provisions of this paper.
1.1. Coylton Services LP Company, which is registered in Scotland, provides binary option trading service through its website verumoption.com under the terms and conditions that are provided in this Agreement. The Company provides its service through Trading platform — electronic system for binary options trading on financial market.
1.2. Agreement covers all partnerships between the Company and its clients that have been registered on verumoption.com. The Company provides its services only to person that reached legal age.
1.3. The Company has right to change or amend the Agreement in its sole discretion from time to time. The Client will be noticed in advance about all changes in this Agreement. All changes will be effective in 5 days since updated Agreement version has been published. If the Client still uses services of the Company after this term, then it means the Client gives consent to the made changes. For the avoidance of doubt it is advised that Client regularly checks this Agreement to find any changes and to monitor news on the verumoption.com.
2. Agreement on online service usage
2.1. This Agreement covers website verumoption.com and all resources and information that are published on the Company’s website. The Client should familiarize himself or herself with all information that is available on the verumoption.com.
2.2. The Client agrees with the fact that Company’s services should be used by persons with specific knowledge and experience in field of financial markets, who are able while making deals to estimate risk and profit levels without relaying on data provided on verumoption.com.
2.3. The Client should take into account the fact that binary option trading might be considered illegal in some countries. The Company does not give any legal advice on the matter of legality of its services using within country of Client residence. The Company may refuse to provide services to the Client from countries where the Company’s services are illegal. However, its website verumoption.com will be still available.
3. Terms and definitions
Account – trading account that is opened in Company with unique number and is owned by the Client.
Login credentials (personal data) – data that is used by Client to access (member area on verumoption.com, trading account).
Agreement – terms and conditions under which Company provides its services to Client.
Balance – all money that is held on the Client's trading account.
Base currency – the currency that is the first in currency pair name.
Company website – website verumoption.com.
Trading times – timeframe when the Company’s clients are able to use Company’s terminal for trading on financial market. Trading times may be changed by the Company and the Client will be informed in advance about such changes.
Service – it is a service that the Company provides to the Client under the terms and conditions that are defined in present Agreement.
Transaction – deal that the Client made from his trading account. It should be understood that deal is any type of action with funds, such as position open and close, money deposit and withdrawal, etc.
4. Required details to open trading account
4.1. To open the trading account the Client needs to provide following details to prove his/her identity.
– You agree to provide personal details that are reliable and accurate at the moment of registration.
– Login and password, which you will use to get access to member area on verumoption.com, should not be disclosed and should be kept in safe place for the sake of security. In case you suspect that your personal details might be compromised then you should contact the Company’s support department on the verumoption.com as soon as possible and change your password.
– In case you would like to register as a company then you have to confirm that you accept all terms of present Agreement on behalf from your whole organisation. From another side our Company is obliged to comply with confidentiality policy regarding all data that you submit.
– You agree that you are responsible for usage of all trading strategies, trades and analytical reports and the Company is not responsible for any of your actions.
– You agree to provide to the Company your personal details (name, address of residence, date of birth, etc.) for the purpose of opening trading account, and you agree as well to provide further details, which might be needed. These details are used for verification in order to secure our client financial transactions.
– You agree to use the Company services exclusively on your own name and confirm that your actions do not have fraudulent intent.
– You confirm that you are using the Company services by your own free will.
– You agree that data of your interaction with the Company will be saved and may be used in case of dispute situation between you and the Company or authorities.
– You give your consent for your data usage in order to optimise your interactions with the Company (to inform you about new promotions or offers, or about important changes in the Company’s practise).
4.2. You will be aware that the Company may refuse to provide you one or another service in case it deals with the interests of Company.
5. Client's responsibilities
5.1. The Client confirms that funds, which are used for trading through the Company’s services, belong to the Client, are free from taxation, and are not credit or fraudulent funds.
5.2. The Client obliges to act in his or her name and should not represent interests of any other third party. The only exception is the case when there are proper documents that entitle to act on behalf of other person and those documents have to meet the Company’s requirements.
5.3. The Client understands that the Company may return all funds to legitimate owner if there will be any incontrovertible evidences that those funds, which are used for trading, belong to third party or obtained by criminal means. More than that, the Company has the right to cancel the Client’s transactions and terminate this Agreement. All legal measures can be taken in order to compensate for the Company losses if there are facts of the Client fraudulent activity.
5.4. The Client confirms that by the moment of signing this Agreement he or she has reached legal age and is legally capable to act.
5.5. The Client agrees that any deals, which he or she made via the Company’s services, shall be carried out through the Company Trading platform.
5.6. The Client is responsible to provide to the Company genuine documents and keep them up to date.
6. Trading on financial markets
6.1. When the Client accepts this Agreement, he or she will be able to access the Company’s trading system hence will be able to make a trade on financial instruments, which are provided by the Company.
6.2. The Client agrees that he or she will keep credential details in safe place that is not available for any third parties, and will not disclose them to anyone. The Client agrees not to resist any actions that upgrade security of his or her data and procedure of the access to data.
6.3. The Client agrees to not use the Company’s trading platform for any fraudulent activities, such as price manipulation or intentionally caused trading platform malfunctions in order to get profit.
6.4. The Client is responsible for keeping his or her credential data for Trading platform safe. In case of suspicion that your credential details might be used by third parties without your consent you have to immediately inform the Company and undertake all required measures to secure your details. The Company notifies that all trading orders and financial transactions that were initiate with your credential details will be considered as your orders and transactions that have been made by you.
6.5. The Client has to notify the Company about all occurrences of receiving wrong market data on Trading platform, failing to execute trading order or false order execution, which the Client did not make.
6.6. The Client gives his or her consent to use software that is required to install and correctly operate Trading platform.
6.7. The Company cannot be liable for any unauthorised access by third parties to the Client personal information or leakages during data transmissions towards the Company representatives through Internet.
6.8. The Company also cannot be liable for any electricity malfunctions, which may lead to inadequacy in Trading platform work.
6.9. The Company is not liable for damage that the Client suffers as result of incorrect market data transmissions, technical problems and other malfunctions, network overloads, computer viruses, etc. The Client should understand that in case of any technical failure he or she may have limited access to Trading platform. The Company may notify the Client in advance about necessity to temporarily suspend his or her access to Trading platform because of above-mentioned reasons.
6.10. The Company reserves the right to terminate Client access to the Trade platform in its sole discretion in cases that require this measure. Such cases include following:
a) The Client violates conditions of the present Agreement and does not fulfil obligations;
b) there is problem with Internet connection or electricity supply of the Trading platform;
c) there is a need to protect the Client interests because of his or her personal details security threat;
d) the Client’s actions come to be of fraudulent nature.
6.11. The Company has the right to cancel transaction (trade) with binary option buying or selling if contract has been made on a price that does not reflect fair market price. In this case the Company informs the Client about mistake with option price and cancels Client’s trade. If it is necessary the Company may restrict volume of Client’s trades or impose other restrictions. Profits for contract with incorrect price will be paid in accordance with current market quotes, which can be found on verumoption.com and that will be correspondent with the ban-to-bank trade results.
7.1 Transaction execution
7.1.1. The Client puts order with the price that he or she can see in Trading terminal and when trade is opened then execution starts. Price in Client’s order may be different from current market price because of high market volatility or delays that caused by failures in Internet connection between the Client and Company servers. The Client has to make trade in his or her own name or entitle somebody else to act on his or her behalf. The latter needs notarized power of attorney and other required documents.
7.1.2. The Company agrees that it will exercise best efforts for timely Client’s order execution, although the Company cannot guarantee order execution in exact compliance with the Client presets. The Company will immediately notify Client if there is no possibility to execute order (because of market closure, asset illiquidity, etc.)
7.1.3. Trading order can be put and executed/deleted only during Company’s trading hours, however this order will remain valid during next trading hours timeframe. Order validity depends on the set binary option expiration time.
7.1.4. The Company can change the list of assets that are available for the Client to open binary options. Let's say if one of major assets has high chances to fell down and the Company is aware of this fact, then the Company is entitled to withdraw asset from its Trading platform.
7.1.5. If it is necessary the Company may impose limitation on the number of opened positions by a Client or impose other limitations, for example:
a) Limitation on maximum amount per one order.
b) Control of the Trading platform in order to identify Client while he or she makes a trade.
7.1.6. If these limitations will be imposed, the Company will notify Client in advance about such changes.
7.1.7. The Client should understand that some financial market might impose own limitations on synthetic order type.
7.1.8. In case when the Client has any open positions on the ex-dividend day for major asset, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying financial instrument at the first available price on the ex-dividend day. In this case, the Company will inform the Client about such adjustment and no Client consent will be required.
7.2 Transaction confirmations
Confirmations for all transactions that have been executed in the Client’s trading account will be available via Client’s online account through the Trading platform as soon as the transaction is executed. It is Client’s responsibility to notify the Company if any confirmations are incorrect. The Client might request to receive the Account statement for month or quarter. The Company may provide but is not obliged to provide to the Client this data.
7.3. Authorisation of third person to give instructions on behalf of a Client
The Client has the right to authorize a third person to give orders to the Company. In order to do so Client has to authorize the third person in accordance with legal procedure and provide notarized documents that prove third person authorization. In case if the Client would like to terminate third party authorization then the Client has to notify the Company of such decision in writing.
8. Pricing policy
8.1. The Company may set prices on assets in following cases:
a) The Company uses its right to close Client’s transaction in favour of Client or Company.
b) The Client Transaction closes automatically.
It is the Client’s responsibility to decide whether or not he/she wishes to deal at the price quoted by the Company.
8.2. Each price shall be effective and may be used in a dealing instruction prior to its expiration time. A price may not be used in a dealing instruction after such time. It does not require to notify the Client before price expiration time.
8.3. The Client acknowledges that these prices may differ from prices provided by other companies to its clients. Prices that provided by other companies and other third parties are not considered by Company and do not affect the trading activities of the Clients.
8.4. The Company has the right to stop providing prices for specific currency pairs and settlement dates at any moment without prior notice to the Client. When the Company quotes a price, market conditions may move before the time when Client’s order will be executed. Such movement may be in Client’s favour or against it.
9. Refusal to execute Client order
The Company has the right, at any time and without giving any notice, to refuse to execute any order in the following cases:
a) If the Company has adequate reasons to suspect that the execution of an order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities.
b) Trade can potentially affect the reliability or efficiency of the operation of the Trading Platform.
c) The Client does not have enough money at his account to make transaction.
The Client is not liable to the Company for any of these occurrences and does not complaint against the Company.
10. Cancellation of Client transactions
10.1. Company has right to cancel Client’s transaction in the following occurrences:
a) The Company has adequate reasons to believe that Client involves fraudulent practise in his or her activity.
b) Order was placed on price that doesn’t match the market one and was displayed as a result of system errors or system malfunctions (either through the Company’s or the Client’s fault).
c) The Transaction has been performed in violation to the provisions of this Agreement.
d) The Client uses too often cancel trade feature. Maximum amount of trades cancellation are two cancelled per one made trade.
10.2. If the Client considers his or her position as unwilling one then there is the right to cancel trade within 3 seconds since position has been placed.
11. Client’s transactions management
11.1. Binary option buying is completed when the financial contract has been customized, the premium has been calculated and payment has been verified.
11.2. The Client agrees to be fully liable for the management of every transaction that was made under his or her account through Company’s Trading terminal.
11.3. Statement of account can be provided by the Company to the Client once a year. Any confirmation of the account balance or completed transactions shall be final, unless the Client has any objection in relation to such account balance statement or completed transactions. Any objections should be communicated in writing and received by the Company within 5 working days from the moment of any Account statement or transactions receipt.
11.4. In the case when the Client can check an Account statement online on a continuous basis, then the Company will consider any objections of the Client to be valid only within 2 working days from the disputable transaction completion.
12. Client's funds usage
12.1. Funds belonging to the Client that will be used for trading purposes will be kept in accounts that any banks and/or financial institution used to accept funds, which the Company will specify from time to time. Funds will be held in the Client’s name and/or the Company’s name. It is understood that the Company is not liable for inability to pay as well as omission to act from any third party, which are connected to this clause.
12.3. Client’s funds that are deposited to his or her account will be held on the Company accounts or on accounts of Company’s paying agents. Information about the Company paying agents can be found in Member area.
12.4. Upon signing the Agreement, the Client authorizes the Company to make any deposits and withdrawals from the Account on his or her behalf in order to settle trades.
12.5. The Company is liable to pay to the Client any amount that must be paid by transferring money to the Client's bank account or to account in any other payment system. Time-frames for request processing are stated on website verumoption.com. The time needed for crediting into the Client’s personal account depends on the Client’s bank account provider.
12.6. The Client may withdraw from his or her account any amount that is not involved in trades and not held to meet margin requirement without closing account.
12.7. When Client requests to withdraw money fully or in some part and does not meet provisions of this Agreement then the Company has right to refuse Client’s request or extend the time for it processing.
12.8. Any fees that are charged by bank or payment system due to funds transferring from Client’s trading account to his or her bank account or account in any other payment system will be paid by the Client. The Client is liable for correctness of provided payment details.
12.9. The Client agrees that funds will be credited to his or her account with fee deduction that have been paid to bank or any other payment system, which the Client uses.
12.10. Withdrawals of the funds should be made using only the same method that was used by the Client to fund his trading account. If the Client wants to use different payment method then the Company reserves the right to decline a withdrawal with specific payment method and to suggest another payment method.
12.11. If the Client failed to provide full list of required documents that are needed to complete withdrawal, then the Company may request additional documents and in case of failure to submit it the Company has the right to refuse further processing of the request and to credit funds back to trading account.
12.12. In accordance with international rules that should prevent money laundering the Client is required to provide all necessary information about himself or herself in billing document.
12.13. The Company will not credit money to Client’s account from third party unless the Client provides written consent to do so.
12.14. The Company may refuse to accept Client‘s funds in following cases:
a) Transfer has been done by third party without proper documents, which confirm the Client’s approval to do so.
b) The Company has the reasons to be suspicious that the Client might be not fully authorized to transfer money.
c) Money transfer violates the law of the country, where the Company has been registered;
d) The Company reasonably suspects dishonest work (fraudulent activities) from the Client.
In cases "a", "b" and "c" the Company shall send received funds back to the Client in the same method used by the Client. Commission for the transfer of funds is paid by the Client.
In case "d" the Company has a right to refuse to work with the Client and withdraw him his funds in the amount of his initial deposit only to his banking particulars.
In all these occurrences the Company will send these funds back to the Client through the original payment method, which the Client chose. Fee for money transfer will be paid by the Client.
When there is need to make such transfer the Company is required to notify the Client in the shortest possible time as well as to notify about all fees and expenses, which the Client have to pay.
12.15. The Client is also obliged to read and fully understand additional information regarding each funds deposit/withdrawal method.
13. Company’s liability to Client
13.1. The Company will perform the Client’s transactions in good faith and with proper due diligence but shall not be held liable for any Client omission or fraud. The Company is not liable for any losses that have caused by the Client trade activity.
13.2. In case when the Company incurs losses and damages that arise from the Client’s actions, then the Client is liable to refund all losses and to cover Company’s expenses.
13.3. The Company is not liable for the Client's funds losses that arise from the Client’s trading activities that were based on fail market data, unless the Client notify the Company about this fact.
13.4. Company as well cannot be liable for:
a) The Company’s system errors;
b) Quotes delays;
c) Internet viruses;
d) Illegal Trading terminal usage;
e) Actions of the clearing institutions or others that regulate financial markets.
13.5. The Company is not liable for failing to fulfill its obligations towards the Client if it has been caused by reasons beyond its control (hardware failure, quotes failure or delay, force majeur, etc.)
13.6. The Company is not liable for postpone binary option expiration date (it is the Client responsibility).
13.7. The Company as well as any of its representatives is not liable for the Client losses that arise from negligent or violation of provisions of this Agreement.
13.8. The Client confirms that he or she accepts this Agreement of his or her own free will. The Company cannot be liable for any situations that are not described in this Agreement and it cannot be considered as fraud from the Company side.
14. Agreement duration and amendatory procedure
14.1. This Agreement becomes valid when the Client makes the first deposit to his or her trading account and the Company sends to the Client written confirmation that indicates money acceptance.
14.2. The Client may accept this Agreement digitally. It shall be valid for an indefinite time period until its cancellation from either the Company or the Client or both.
14.3. The Company reserves to itself the right to amend the Agreement in the following cases:
a) Legislative or any other authority issues decisions or binding directives which are compulsory to follow for the Company. In any such case, the Company shall unilaterally amend the Agreement and notify the Client of such amendment either in writing or per electronic mail or through its webpage.
b) When the amendment of the Agreement is required by Company's interests then the Company shall notify the Client of the relevant amendment through its webpage. If objections arise, Client may cancel Agreement within five days by sending notification. First-order reason to terminate this Agreement is the fact the Client does not have any open trades, as well as Client have to sent registered letter with notification of Agreement cancellation to the Company’s address. In case when the Client have not cancelled this Agreement in five days then the Company will consider that he or she accepts all changes in this Agreement.
15. Cancellation of Agreement
15.1. The Client has the right to cancel Agreement by giving the Company written notice at least in thirty days till the cancellation date. The Client should not have any open positions by the date of cancellation.
15.2. The Company may cancel Agreement by giving the Client written notice in a five days, specifying the date of termination therein.
15.3. The Company may cancel Agreement immediately without giving any notice in the following cases:
a) Death of the Client;
b) In case of a decision of bankruptcy of the Client and an application for the aforementioned;
c) Cancellation is required by any competent regulatory authority or body;
d) The Client violates any provision of the Agreement;
e) The Client violates any law, including laws that are not related to financial markets legislation;
f) The Client involves the Company directly or indirectly in any type of illegal activities;
g) The Client personal details are not accurate or reliable and do not meet conditions of this Agreement.
15.4 The cancellation of Agreement shall not in any case affect the Client’s obligation to pay:
a) Any charges and additional expenses incurred or to be incurred by the Company as a result of the cancellation of the Agreement;
b) Any losses suffered by the Company as the result of paying the Client’s pending fees.
The Company reserves the right to reverse all previous transactions, which place the Company’s interests at risk before cancelling the Agreement.
16. Failure of Client to comply with obligations
16.1. The following cases are considered as failure to comply with obligations on the Client side:
a) The failure of the Client to make any payment when due under this Agreement.
b) The failure of the Client to perform during one Business Day any provision of this Agreement after notice of non-performance has been provided to the Client by the Company.
c) The Client’s bankruptcy (in case of legal person) or the Client’s insolvency (in case of natural person).
d) The Client dies or becomes incapable.
e) Any information given by the Client under this Agreement proves to have been false or misleading.
f) Any other situation where the Company reasonably considers that the Client’s actions may cause damage to Company.
16.2. On the occurrence of a failure to comply with obligation on the Client side the Company shall be entitled to take any of the following actions:
a) To pay to the Client the fair market value of initial investments at the time the Company exercises such right.
b) To close, replace or reverse any transaction to cover Company’s loss in respect of any of the Client’s contracts.
d) To treat transactions that have been made by the Client as closed (in this case Company discharge itself from liabilities for those transactions).
17. Risk disclosure
17.1. It shall be noted by the Client that the due to market conditions and fluctuations, the value of Financial Instruments may increase or decrease regardless of the information the Company may provide.
17.2. The Client is aware and acknowledges that there is a great risk of incurring of the financial losses when he or she trading by means of the Company’s Trading Platform. The Client accepts that he or she is willing to undertake this risk upon using Company’s service. The Company notify that its services due to above-mentioned are suitable only for customers who are able to bear the loss that will not be critical for them.
17.3. The Client declares that he or she has accepted the following:
a) Information of the previous performance of a Financial Instrument, which is given on the Company’s website, does not guarantee its future performance.
b) In cases of financial instruments traded in currencies other than the currency of the Client’s country of residence, the Client covers for currency exchange and should consider risk of a change in the exchange rate that will decrease the value and price of the Financial Instruments.
c) The Client must be aware that he or she is running the risk of losing all of his/her funds and all expenses, commissions incurred by conditions of this Agreement.
17.4. The maximum loss that may be incurred by any Client is the amount of his/her balance.
17.5. Each financial contract purchased by a customer via this site is an individual Agreement made between the Client and the Company, and is not transferable to any third party.
17.6. The Company makes available to the Clients financial markets, quotes, news, analytic data and research reports, etc. This information is provided on the official Company’s website and it cannot be considered as guide to action or financial consulting service that is provided by the Company. The Company is not liable for accuracy and reliability of this information.
17.7. The Company cannot guarantee that Client will make profitable trades. The Client should understand that any market fluctuations might cause profit or loss.
17.8. The Client understands that it is possible to loss his or her partial or full deposit in short term. The Client is not required to make additional deposits to his or her account so Company may close account even with negative balance. Under such conditions the Client’s consent is not required.
17.9. The Client agrees that risk discloser in this Agreement cannot reflect all possible risks of binary options trading. Thus the Company recommends to make only well thought out trades, and Client should be able to estimate possible outcomes and be fully aware of his or her benefits and burdens in partnership with the Company.
18. Confidentiality of Client's personal data
18.1. The Company is obliged to not disclose to the third party any Client’s information or his/her personal details without Client consent. Unless disclosure of personal data is required by the law or needed to guarantee security of Client’s transactions.
18.2. The Company will handle all of Client’s personal data safe in according to the relevant Laws and Regulations for the protection of Personal Data.
18.3. The Company is not oblige to provide to the Client any information except where it is stated in present Agreement and required by ruling law.
19. Communication between Client and Company
19.1. Any notices or instructions as well as requests and other communications between the Client and the Company are carried out in written. Client may send message to Company's email: or other email addresses that are belonged to official Company's representatives. The Company has the right to establish other forms of communications with the Client.
19.2. If communication between the Client and the Company's representatives are carried out through telephone then the Company has the right to record conversation without any warning signal. All records are the Company property.
If the Client has complains then Company is obliged to handle this complaint fairly and promptly. The Client may submit a complaint to the Company via email. The Company will send to the Client a written acknowledgement of receipt, enclosing details of the Company’s complaints handling procedures. The Client is advised to contact the Company’s specialists if he or she would like to get further details regarding complaints handling procedures.
22. Final clauses
22.1. The Client agrees that no information from the Company side can be considered as a pressure to sign this Agreement.
22.2. If any provisions of this Agreement are not in compliance with law, then those shall not be executed while others provisions shall be kept valid.
22.3. All actions from the Client side have to be done in accordance with the law of the country where the Company has been registered.
22.4. Information about Company's activities and business terms and conditions are freely available on the Company’s website.
22.5. The Client has not rights for Company's intellectual property or license for content that is published on the Company’s website. All pictures that are used on the Company’s website are owned by the Company or used with copyright holder consent.
22.6. The Client is obliged not to disclose any information and materials that are Company's intellectual property without prior consent of the Company. All materials cannot be considered as a free to distribute — they are protected with licence and any third party has to receive the Company's permission.
22.7. When the Client illegally uses materials that are owned by Company, then he or she is absolutely liable for damage that Company suffered from his/her actions. In case if it comes to the Client knowledge that third parties use materials that are belonged to the Company then the Client should notify the Company about this facts.
22.8. The Client is not allowed to use Company's brand.