The purpose of this Statement is to provide to the Client appropriate guidance on the nature and risks of the specific type of financial instrument that are offered by Betafxtrader.com, hereafter the “Company”.
The Client acknowledges, understands and agrees with the risks, disclosed below.
1. Trading is very speculative and risky. Trading in Binary Options, CFDs and FX Contracts is highly speculative and is suitable only for those Clients who (a) understand and are willing to assume the economic, legal and other risks involved, (b) are financially able to assume the risk of losses up to their invested capital and (c) understand and are knowledgeable about binary options trading and the underlying assets. Binary Options are appropriate investments for retirement funds. The Client represents, warrants and agrees that he/she understands these risks, is willing and able, financially and otherwise, to assume the risks of trading in Binary Options and that the loss of the Client’s entire account balance will not change his/her lifestyle.
2. Cash Settlement. Binary Options can only be settled in cash.
3. Conflicts of Interests. The Company is the counterparty to all transactions entered into under the Client Agreement and, as such, the Company’s interests may be in conflict with the Client’s. The Conflicts of Interest Policy is available at the Company’s website.
4. Prices are set by the Company and may be different from prices reported elsewhere. The Company will provide the prices to be used in trading and valuation of the Client’s positions in accordance with its Trading Policies and Procedures. The trading rates assigned to the assets on the Company’s website are the ones at which the Company is willing to sell binary options to its Customers at the point of sale. As such, they may not directly correspond to real time market levels at the point in time at which the sale of options occurs.
5. Rights to Underlying Assets. The Client have no rights or obligations in respect of the underlying instruments or assets relating to the Client’s Binary Options.
6. Right to Cancel an Order. The Customer will have the choice to cancel the trade for a period of at least 2 seconds after clicking the CALL or PUT button (cancelling the trade will not affect the Customer’s trading balance and the funds will be returned to the trading account).
7. Telephone Orders and Immediate Execution. Market orders executed over the telephone through the the Company’s Dealing Room are completed when the Company’s telephone operator says “deal” or “done” following the Client’s placing of an order. Upon such confirmation of the telephone operator, the Client has bought or sold and cannot cancel the order. By placing orders through the Company’s Dealing Room, the Client agrees to such immediate execution and accepts the risk of this immediate execution feature.
8. The Company is not an adviser or a fiduciary to customer. Where the Company provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and do not consider any of the Client’s personal circumstances or investment objectives, nor is it an offer to trade, or the solicitation of an offer to trade, in any Binary Options. Each decision taken by the Client to trade in Binary Options with the Company and each decision as to whether a transaction is appropriate or proper for the Client is an independent decision made by the the Client. The Company is not acting as an advisor or serving as a fiduciary to the Client. The Client agrees that the Company has no fiduciary duty to the Client and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with the Client following the Company’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by the Company.
9. Recommendations are not guaranteed. The generic market recommendations provided by the Company are based solely on the judgment of its personnel and should be considered as such. The Client acknowledges that it enters into any transactions relying on his/her own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of the Company and/or its affiliates. The generic market recommendations of the Company are based upon information believed to be reliable, but the Company cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will reduce or eliminate the risk inherent in trading Binary Options.
10. No guarantees of profit. There are no guarantees of profit nor of avoiding losses when trading in Binary Options. The Client has received no such guarantees from the Company or from any of its representatives. The Client is aware of the risks inherent in trading Binary Options and is financially able to bear such risks and withstand any losses incurred.
11. Internet Trading. When the Client trades online (via the internet), the Company shall not be liable for any claims, losses, damages, costs or expenses, caused, directly or indirectly, by any malfunction or failure of any transmission, communication system, computer facility or trading software, whether belonging to the Company, the Client, any exchange or any settlement or clearing system.
12. Telephone Orders. The Company is not responsible for disruption, failure or malfunction of telephone facilities and does not guarantee its telephone availability. For the avoidance of doubt, the Client is aware that the Company may not be reachable by telephone at all times and thus the Client can place his orders through online access to the Company’s Trading Platform.
13. Expiry System Errors. In case the expiry system fails for any reason, it will auto detect un-expired options and expire them in accordance to the rates stored historically in the archive. If any position did not expire on time, the system will issue a notification to Risk Manager and Compliance Officer, detailing all position information, in order to be resolved manually.