Otetmarkets.com is the official website of Otet Group Ltd. company hereinafter referred to as the ompany.
Any reference to ‘us’, ‘our‘, ‘we’ or the Company in this document is a reference to Otet Group Ltd. Ompany as the context requires unless otherwise stated.Your access to and use of this website is subject to these terms and conditions, our Client Agreement, and any notices, disclaimers or other terms and conditions or other statements contained on this website (referred to collectively as ‘Terms and Conditions’). By using this website, you agree to be subject to the Terms and Conditions.
The information contained on this website is not guaranteed, is strictly for information purposes nly and subject to change without notice. Although this material is based upon information that the Company considers reliable and endeavours to keep current, it does not warrant that the information or materials are current or accurate at all times and it should not be relied upon as such. To the extent permitted by law, the Company does not accept any responsibility arising in any way from errors in, or omissions from, this information.
The products and services described on the website vary from time to time and may not always be available or may be restricted.
The content should not be construed in any way as a recommendation or investment advice.
Otetmarkets.com is the official website of Otet Group Ltd. company hereinafter referred to as the ompany.
Any reference to ‘us’, ‘our‘, ‘we’ or the Company in this document is a reference to Otet Group Ltd. Ompany as the context requires unless otherwise stated.Your access to and use of this website is subject to these terms and conditions, our Client Agreement, and any notices, disclaimers or other terms and conditions or other statements contained on this website (referred to collectively as ‘Terms and Conditions’). By using this website, you agree to be subject to the Terms and Conditions.
The information contained on this website is not guaranteed, is strictly for information purposes nly and subject to change without notice. Although this material is based upon information that the Company considers reliable and endeavours to keep current, it does not warrant that the information or materials are current or accurate at all times and it should not be relied upon as such. To the extent permitted by law, the Company does not accept any responsibility arising in any way from errors in, or omissions from, this information.
The products and services described on the website vary from time to time and may not always be available or may be restricted.
The content should not be construed in any way as a recommendation or investment advice.
Client terminal log-file means the file created by the client terminal which records all Client requests and instructions to the Dealer with accuracy to the second. Client terminal means the software product which is used by the Client to get information on trading in financial markets (in the volume determined by Company) in a real-time mode, conduct technical analysis of markets, implement transactions, send/edit/cancel orders as well as to receive information messages from Company. Price charts in the terminal are built on the basis of Bid prices. The program can be downloaded on the Company’s website. Closed position means a result ofcovering an opened position by the opposite position. As a result of closing of a position the Company has an obligation to fix floating profit/loss on balance of the Client. Company is legal entity, which provides services in accordance with the Client Agreement and its annexes. Company's website is the website of the Company located online at https://www.otetmarkets.c m. Contract specifications mean the primary trading conditions (spread, lot size, the minimum volume of a transaction, swaps, initial margin, etc.) for every financial instrument. For more information about trading conditions go to the Client terminal. Contractors and partners of the Company are liquidity providers, banks, brokers and other organizations the Company cooperates with. Conversion arbitrage operations mean transactions between the Company and the Client concerning buying or selling currency contracts or CFD. Currency of account means funds or underlying asset in which the sum amount of all trading and non-trading operations are nominated and calculated including floating profit and loss, commission payments, marginal requirements. Currency of account can be USA Dollars (USD), Euro (EUR) and other currencies specified in the website of the company. Currency of account is selected when trading account is opened and cannot be changed in the future. Currency means the object of transaction based on the change in the value of one currency against the other. Demo account - a training trading account with virtual funds provided by the Company, designed for trading without using real money. This account will not be taken into account in the Personal account, withdrawal and transfer to other accounts cannot be made. Dispute means:
1) a conflict arising when the Client believes that the Company, as a result of any action or failure to act has breached one or more of the Terms of Business;
2) the Company believes that the Client as a result of any action or failure to act has breached one or more of the Terms of Business;
3) when the Client makes a trade on an error quote (spike), or before the first quote comes to the Trading Platform at market opening, or on a quote received by the Client due to manifest error on the part of the Company or software failure on the Trading Platform. Dynamic password means a code intended for withdrawal of funds from the Client’s trading account. The dynamic password is sent as SMS to the Client’s mobile phone number specified by the account registration.
All withdrawal requests from trading account that are not confirmed by a dynamic password shall be automatically rejected. Equity means a provided part of the Client’s account with regard to open positions; equity is calculated as follows: Balance + Floating Profit/Loss + Swap. These are assets on the Client’s account reduced by the current loss with regard to the open positions and enlarged by the current profit with regard to the open positions. Expert advisor, Mechanical Trading System means an algorithm for managing the trading account in the form of program written in a specialized Meta Quotes language which automatically directs requests and orders to the server, using the Client’s terminal. Client bears the full responsibility for actions done by the Expert Advisor. Explicit error means either the execution (processing) of an order on the quote which does not correspond with an actual average price level at the time of the implementation of such an operation, or the execution in contradiction to the Company's regulation documents and/or common business practice. Fast market means a market characterized by rapid price fluctuations over a short period of time often causing price gaps. A fast market may occur immediately before or after important events such as:
a) Release of influential macroeconomic indicators for the global economy;
b) Decisions by central banks on interest rates;
c) Press conferences and statements by central banks officials, heads of state, financial ministers or other significant announcements
d) Government intervention in the currency market
e) Terrorist attacks of great impact
f) Natural disasters leading to the declaration of a state of emergency (or comparable measures) in the affected regions
g) War or other significant military actions
h) Political force majeure: dismissal or appointment (including election results) of top government officials
i) Other events which cause significant price movements.
Feed means quotes on each instrument entering the trading platform. Financial instruments mean currency pairs and CFD contracts available for trading. Financial result is a profit or loss, formed based on Client’s trading operations together with all swaps and commissions. When opening a transaction, it will be considered in the Equity, when closing a transaction, it will be considered in Balance. Fixed spread implies permanent difference between Bid and Ask of financial instrument. The majority of assets have fixed spread. Floating profit/loss means floating (unrealized) profit (loss) with regard to open positions at the current quotes. Floating spread implies dynamic (changes over the time) difference between Bid and Ask of financial asset. The majority of assets have floating spread.Force majeure means unforeseen and unpreventable events such as:
a) nature disaster;
b) war;
c) terrorist
attack;
d) Acts of government;
e) hackers' attacks and other illegal actions against the Company.
Free margin means equity not employed in the opening of a position and can be used for new positions. Free margin is calculated as follows: Free Margin = Equity – Margin. Calculation of free margin for new positions is based on the formula:
1. Volume of client position and new margin are defined: for locked positions it is based on the margin required to cover trades, for other positions it is based on the initial margin which is defined by weighted average price (regarding volume) of all positions with the exception of covered;
2. Entire current Floating profit/loss on all open positions is defined based on current prices;
3. Free Margin formula: Free Margin = Balance – New Margin + Floating Profit/Floating Loss. Freeze level means the range of points in each side of the price declared by customer at which the order must be executed (opening prices of the pending order, stop-loss or take profit prices of the open position). If the current market price is in the established range, then order may be banned, changed deleted or closed. During the main time trading is usually performed without order freeze levels, but when sharp price changes of financial instruments are happened (after the issuance of fundamental data, interventions in illiquid marketetc.), the company has right to set freeze levels up to 3 standard spreads. Gap (price range) means a situation when the current quote differs from the previous one in more than a spread size. It may occur both within a trading session on publication of relevant macroeconomic data, economic and political news or in case of force majeure events and at the market opening after weekends and holidays. Hedged margin means the margin required by the Company to maintain locked positions. The details for each instrument are specified in the contract specifications on the Company's website and in its trading server. The margin is taken for each covered lot based on the value specified in “Hedging” field in properties of the instruments. If initial margin is set for the contract, hedged margin has the money expression. Inactive account is an account, on which there no operations are initiated by the Client for more than 30 (thirty) calendar days (deposits, withdrawals, trading operations). Instrument means currency pair or Contract for Difference. Internal exchange rates of the Company — quotes (prices), at which the Company converts funds or assets of Clients during the execution of non-trading operations. Internal exchange rates are set at the discretion of the Company and may be changed at any time without notifying the Clients, depending on the market situation, market volatility and other external and internal factors. Up-to-date rates are published in the Client area and include: Internal exchange rate on depositing (crediting) is used for conversion funds or assets sent from the Client’s payment details, when crediting funds to the Client’s account in the Company. Internal exchange rate on withdrawal is used for conversion funds or assets sent from the Client’s account in the Company to the Client’s payment details. Internal exchange rate on transfers is used for conversion funds or assets when transferring funds between accounts in the Company denominated in different currencies. Interdependent accounts (Interdependent Personal Areas) - trading accounts (Personal Areas) opened by the interdependent individuals, including but not limited to the intersection of identity, payment and network data of the Partner and the Client (accounts trading from the same IP address and/or with the same CID are regarded as one active account), opening of oppositely directed trades on the same or correlated instruments. Interdependent individuals -individuals whose inner relationships can impact on the financial condition or financial results of the Partner and the Company. Labor hours of the Company means a time interval within a working week, when the trading terminal of the Company provides transacting with standard currency contracts as well as with standard CFD contracts, except weekends and holidays, temporary changes of the internal service of the Company and a period of time when services cannot be provided to the Clients for some technical reasons. In such cases, the Company is obliged to take measures to inform the Client on the changes concerning the routine of work and give the chance to the Client to eliminate the currency risks appearing as a result of the foresaid. Leverage means ratio between the transaction volume (in terms of currency) and the margin. The leverage 1:100 means that the Client needs a sum in 100 times less than it is needed to open a position. Liquidity provider – partner of the company: broker, bank or ECN providing streaming quotes and used by the company to hedge clients’ trades. Limit & Stop Levels are the minimal distance in points from the Open level to current prices, works for all types of orders: Stop Loss, Take Profit, Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit. Locked (covered) positions mean long and short positions of the same size opened on the same trading account with regard to the same instrument. Long position (Buy) means market liability, the number of bought contracts on financial instrument expecting rise in quotation. With regard to currency pairs: buying the base currency for the quoted one with regard to CFD: buying base asset CFD for quoted currency. Lot, Lot Size means a conditional indication of the number of base currency, shares or basis asset as defined for financial instrument. Lot size (contract size) means a measure unit of the trade volume (for example, 1.00 lot = 100,000 base currencies), it's specified on the Company's Trading Server and in the Contracts specification on the Company's website. Margin means the money security required to open and maintain trading positions. In general case, margin for Client account is the sum of margin requirements on all open positions with the exception of covered (hedged or locked) positions. Covered positions are the positions opened for one contract in opposite directions. Margin is different for various financial instruments and its level is specified in trading server of the Company. Client does not show it in properties of contracts. Margin for each contract (instrument) is specified on the Company's website. Margin call means a warning that informs a trader on insufficient funds required for maintaining open positions which, in some cases, can lead to closing positions without notification to the Client. Occurs when Margin level is equal or less than Margin call, which is specified in the section "Trading conditions" on the company's website. Margin level is the key level of account characterizing if the funds on trading account are enough to maintain open traders. It is calculated based on the formula: Margin level = Equity/Margin * 100%. If Margin level falls below allowed level set by the Trading Procedures, Stop Out Occurs. Market order is the trading instruction of Client to Company to Open/Close of financial instrument based on current price. Market price available means a quote at which a liquidity provider executes the Client’s order. The Company cannot guarantee the execution of the order at a price better than the price offered by a liquidity provider. The accuracy of quotations is determined by the Company, at its sole discretion. Margin trading means leverage trading when the Customer may make transactions having far less funds on his trading account. Market opening means the time when the market opens after weekends, holidays or trading session time gaps. Non-trading operation means deposit/withdrawal of funds or providing/return of a bonus or a credit. Normal market conditions mean:
a) no considerable breaks in the flow of quotes
b) low volatility
c) no large price gaps.
Open position means market liability, number of bought and sold contracts on financial instrument not covered by the opposite buy (sell) of the contract. In this case the Client shall be obliged to maintain equity not lower than pointed in Regulations on Trading Operations. Order level means the price specified in the order. Order means the Client’s instruction to the Company to buy or sell a financial instrument. There are two types of orders: market order and pending order. Pending order means a request from the Client to the Dealer to carry out an order (open or close position, place an order) once the price reaches the level of the pending order. The Client may place pending orders of the following types: Stop Loss, Take Profit, Buy Stop, Sell Stop, Buy Limit, Sell Limit, Buy Stop Limit, and Sell Stop Limit. Personal area means the Client’s personal web-page where the Client’s contact details are specified as well as deposit/withdrawal requests and feedback to the Company are carried out. Photo ID means high quality photo of the Client holding his/her identification document. Face of the Client and his/her identification document should be clear and well visible. Graphical editor usage for adjustment of the photo is prohibited. Point (Pip) means a minimal change of the instrument rate. Position means market liability, number of bought and sold contracts on financial instrument. Promotion account (account that is a part of promo) - a special trading account where trading is done with money given by the Company. The Company's money and money received as a result of trading operations on the promotion account shall be used in accordance with the terms of promo activated. Quote currency means the second currency in the currency pair which can be bought or sold by the Customer for the base currency. Quote means the price of one currency quoted in terms of another (Bid/Ask). Quotes base means information about the stream of quotes. Quoting means the process of providing the Client with quotes. Rate means 1) for the currency pair: the value of the base currency in the terms of the quote currency; 2) for CFD: the value of the unit of the underlying asset in terms of money. Request means Client’s order to the Company given to obtain a quote. Client is not obliged to implement a transaction on making such a request. Server log means a file where the server protocols all requests and orders received from the Client as well as the result of their processing with a pinpoint accuracy. Short position (Sell) means market liability, number of sold contracts on financial instrument held with the expectation of the asset falling in value. In currency trading it means buying the quote currency and selling the base currency. As applied to the Contracts for Difference: selling the base asset CFD for quoted currency. Specification of contracts – are the main trading terms (trading schedule, lot volume, minimum volume, margin, spread, minimum levels, swap etc.) for each financial instrument. A full specification of contracts is represented on the website of Company. Spike means an error quote with the following characteristics: a significant price gap; in a short period of time the price rebounds with a price gap; before it appears, there is no rapid price movements. Company has a right to remove non market quote from the quote base of the trading server. Spread means the difference between the buying rate and the selling rate of a currency pair or a CFD contract at the present moment. Stop out means an automatic trade server's command to close one or more open positions without any prior notification to the Client. Occurs due to insufficient funds required for maintaining open positions in trader's account when Margin level is equal or less than Stop out level, which is specified in the section "Trading conditions" on the company's website. Swap (Rollover) means the amounts charged off or credited to the Client’s account for the position prolongation (transfer) to the next day. Calculation and fixing of swaps occur at the last moment trading days on server time (from 23:59 till). Swap sizes are determined in the contract specifications on the web site of the Company. Telephone password (Code word) means an additional password of the Client, which is used without fail when executing transactions by telephone. Ticket means the unique identity number assigned to each trading and non trading operation. Trade means buying or selling a financial instrument. Buy operation is carried out at Ask price, and Sell operation is carried out at Bid price. A trade may be executed as a result of market order or pending order. Trading account means the special personal account opened by the Client with the Company where the obligations between the Company and the Client are conducted which arise from the trading and non-trading operations made within the scope of the Agreement.
Trading commission is the fee incurred by the Company from Client for conducting a Trading operation. Trading instruction means Client’s order to the Company to open or close a position or to place, modify, delete an order. Trading operation means buying or selling of any financial instrument with the intention of the opposite transaction (selling or buying, respectively) of the same instrument and amount. Trading platform time zone means Eastern European Time, EET is equal to GMT+2 in winter and GMT+3 in summer. Graphics in terminal as well as recording of any event in the log file of a trading server are reflected according to EET. Trading server of the Company means software of Meta Trader Server by means of which Client’s instructions and requests are processed, the information on trading in financial markets (in the volume determined by the Company) is provided in real time mode, the mutual obligations between the Company and the Client as well as adherence to contract specifications and restrictions are registered. Transaction means a conversion of funds from the base currency (asset) to the quote currency and vice versa as a result of trading operations. Transaction size means lot size multiplied by the number of lots. Type of account – the terms of working on trading account. The list of types of accounts offered by the Company is based in Trading Terms section on its website. Type of account is set when Client registers an account and cannot be amended later. Volume of trading operation – product of a number of lots by volume of lot.
In this case the Client shall be liable for losses arising from this situation because the Client determines volume of his/her new positions.
One of the main priorities of the Company is to protect the privacy and safeguard of the personal and financial information of our current and potential clients and website visitors. It is explained in following Security Policy statement how the Company collects, processes and protects the information. In Security Policy it is described how the Company preserves the confidentiality of personal data of the Clients and network users. By using the official web-site of the Company https://www.otetmarkets.cm (hereinafter the Site) you accept the given Security Policy. Note: the present policy extends only on the Company’s site and does not extend on websites of other companies, persons or the organizations references on which contains the web site.c
One of the main priorities of the Company is to protect the privacy and safeguard of the personal and financial information of our current and potential clients and website visitors. It is explained in following Security Policy statement how the Company collects, processes and protects the information. In Security Policy it is described how the Company preserves the confidentiality of personal data of the Clients and network users. By using the official web-site of the Company https://www.otetmarkets.cm (hereinafter the Site) you accept the given Security Policy. Note: the present policy extends only on the Company’s site and does not extend on websites of other companies, persons or the organizations references on which contains the web site.
1 . Anti-Money Laundering (AML) policy
Otet Group Ltd. (hereinafter called as the “Company” or “we” or “our” or “us”) is registered and authorised by the Marshall Islands by number 118922. The Company is working hard to create a culture that helps detect and report any incidences of money laundering and/or terrorist financing. The company is committed to be in compliance with all applicable laws and regulations regarding anti money laundering and terrorist financing in the Cayman Islands.
2. Money Laundering and Terrorist Financing
It is our major responsibility, among others, to prevent money laundering and terrorist financing. On one hand, the money laundering is a financial crime committed by someone who is making the possession, use or disposal of money or other property obtained from criminal activities appear to be legal. On the other hand, terrorist financing is the process by which terrorists fund their operations in order to perform terrorist acts. Terrorists need financial support to carry out their activities and to achieve their goals. There is little difference between terrorists and other criminals in their abuse of the financial system. While different from money laundering, terrorists often exploit similar weaknesses in the financial system. The Anti Money Laundering Compliance Program is designed to prevent the firm from forming business relationships or from carrying out one-off transactions with or for another person or client unless the firm can:Clearly establish the identity of the person or client;
Maintain record keeping procedures in accordance with applicable laws and regulations; and Apply appropriate internal controls and communication. o The Company has put in place a robust governance framework throughout the organisation for managing risk and AML compliance.o The Company’s AML governance framework is made up of the following core components; Responsible Board oversight; A strong and independent Money Laundering Compliance Officer (MLCO); Adoption of the risk-based approach as per the Cayman AML regulations and laws, as amended from time to time; Policies and Procedures; and Ongoing organisation wide Training.
3. Due Diligence Procedures
Identify a customer, whether a customer in an established business relationship or a one-off transaction, and whether natural, legal person or legal arrangement and shall verify the customer’s identity using reliable, independent source documents, data or information; Verify that a person purporting to act on behalf of a customer is properly authorized and identify and verify the identity of the person;
Identify a beneficial owner and take reasonable measures to verify the identity of the beneficial owner, using the relevant information or data obtained from reliable sources, so as to be satisfied that the person knows the identity of the beneficial owner; Understand and obtain information on, the purpose and intended nature of a business relationship; and Conduct ongoing due diligence on a business relationship including o Scrutinising transactions undertaken throughout the course of the business relationship to ensure that transactions being conducted are consistent with the person’s knowledge of the customer, the customer’s business and risk profile, including where necessary, the customer’s source of funds; and o Ensuring that documents, data or information collected under the customer due diligence process is kept current and relevant to customer due diligence, by reviewing existing records at appropriate times, taking into account whether and when customer due diligence measures have been previously undertaken, particularly for higher risk categories of customers. The Company follows the domestic legislation as required by Marshall Islands, however we do follow stricter rules and legislation when it comes to AML procedures and will continue to keep in place the AML procedures in order to safeguard and act honestly, fairly always acting in the best interest of the clients. The Company also has a policy of processing withdrawals only to the same bank accounts as initial deposits.
4. Confidentiality
The personal data we receive is handled in accordance with the provisions of the Privacy Policy. Please note that the reason for the identification procedure is to comply with laws against money laundering and financing terrorism, not because we suspect you of committing illegal acts.
Accordingly, your cooperation and understanding of these steps is necessary to effectively combat money laundering and financing terrorism. Each of the affiliates of the Company is required to comply with AML and KYC policies. All identification documents and services records shall be kept for the minimum period of time required by the law. All new employees shall receive anti money laundering training as part of the mandatory new-hire training program. All applicable employees are also required to complete AML and KYC training annually. Participation in additional targeted training programs is required for all employees with dayto-day AML and KYC responsibilities. This policy is intended for the protection of the Company and our clients. If you have any questions about the policy, please contact: [email protected]
PARTNER AGREEMENT (IB)
1. General Provisions
1.1 This Agreement is made and entered into account on 6th July 2023 (2023/06/07) by and between Otet Group LTD, a financial brokerage company registered by license No 118922, in Ajeltake Road, Ajeltake Island, Majuro, Republic of Marshall Islands MH 96960 and, the Partner (IB) is an individual or a legal entity that is attracting new clients to the Company and acting under this Agreement on behalf of the Company.
1.2 The "Company" shall mean Otet Group LTD. as defined in the section introduction.
1.3 "IB" shall mean a Partner, IB, introducing customer accounts to Otet Group LTD.
1.4 "Customer" means a customer of Otet Group LTD. whom IB introduces.
1.5 "Account" shall mean an account established for a Customer introduced to Otet Group LTD by IB.
2. Interaction of the Parties
2.1 The purpose of this Agreement is to set forth the terms and conditions, scope of work, and responsibilities of the parties associated with their collaboration in describing the project. Both parties will collaborate to define specific goals and objectives related to the product.
2.2 Both parties see the benefits of this project, have a desire to pursue the project, and have determined that each brings the unique expertise and experience necessary to accomplish the objectives of this Agreement.
3. The Company’s Rights and Responsibilities
3.1 Otet Group LTD shall undertake the following activities under this Agreement:
3.2 The Company has the right to control the Partner's activity concerning implementing the Partner’s functions and responsibilities under this Agreement.
3.3 The Company has the right to request a detailed report on the discharge of the Partner’s obligations under this Agreement and on the progress and results of the services offered by the Partner.
3.4 The Company has the right to change the type and the amount of the Affiliate program and commission in case the Partner fails to fulfill the conditions of this Agreement.
3.5 The Company reserves the right to cancel this Agreement unilaterally in the extrajudicial procedure.
3.6 The Company has the right to amend this Agreement, as well as change the amount of the partner commission. The notice about this is to be sent to the Partner by the terminal's inner messages, email, posting, or by an announcement on the Company’s site on this link three business days before the amendments come into effect.
3.7 The Company, at its sole discretion, reserves the right to require the Partner to immediately correct or delete marketing materials and other information posted on the Partner's Web resources if such information is incorrect, misleading, or detrimental to the Company's reputation, business interests, or regulatory compliance.
3.8 In case any actions that are against the Company's interests might have a negative influence on the Company's reputation or activity or might be the reason to doubt the Partner's work ethics, the Company has the right to terminate this Agreement unilaterally.
3.9 The Partner acknowledges and agrees that the Company has the right to monitor and review all information posted by the Partner on its Web resources. The Partner shall, in turn, comply with any requests from the Company to correct or remove non-compliant information and shall indemnify and hold the Company harmless from any losses, damages, or liabilities arising from non-compliant information posted by the Partner. The Partner understands that the failure to comply with these obligations may result in the termination of the Partner Agreement.
3.10 Suppose the Partner does not comply with the Company's internal policies. In that case, the Company may, at its sole discretion, restrict the payout of the Partner commission and terminate this Agreement and the Partner's Client Agreement with forced closure of open positions, if applicable. The Partner acknowledges and agrees that the Company shall have no liability or responsibility for any losses or damages resulting from such closure.
3.11 Provide the needed services for the clients introduced by IB of this agreement, lower the principles, and control them monthly.
3.12 Make the agreed payments weekly to IB of this Agreement.
3.13 Otet Group LTD will follow the Introducing Broker rebates as the table attached to this Agreement.
4. The Partner’s (IB) Rights and Responsibilities
4.1 The Partner is fully responsible for compliance with legal regulations in their activity and also shall follow all articles of this Agreement.
4.2 Inform new clients about the scope of activity and services of the Company, about the competitive advantage of the Company, as well as provide all necessary information, including addresses and contact details of the Company.
4.3 Introduce new clients to the Company website https://otetmarkets.com and describe its structure, refer to the documents and information listed on the site, and explain them.
4.4 Inform the Company immediately about any external interference in their activity.
4.5 Inform the Company about any known circumstances that may affect or prevent them from fulfilling their obligations under this Agreement or involve any risks for the Company.
4.6 In their activity, they obey the laws of their resident country or the country where their promotional campaigns for attracting clients are taking place.
4.7 In response to the Company's inquiry, please provide a detailed report about fulfilling their obligations under this Agreement and the progress and results of services rendered by the Partner.
4.8 The Partner shall keep the information about the Company and its services posted on the affiliate website up to date. Suppose unreliable or irrelevant information has been posted on the Partner's Website. In that case, the Company can ask the Partner to remove or update the website information. In contrast, the Partner must fulfill the requirement within seven days of the Company’s request.
4.9 The Partner is not allowed to use the Company’s site design and any of its elements besides the Company’s logo, including full or partial copying.
4.10 At its sole discretion, we shall open accounts to the customers introduced by IB, provided they meet its qualifications criteria and suitability standard.
4.11 We agree to accept instructions and orders from the Customers and send statements of accounts to the Customers introduced by IB.
4.12 Provide services to the customers introduced by IB per our Terms and Conditions.
4.13 Provide a license to IB to use the Company's trading software, forms, literature, newsletters, market reports, and any other informational material we provide.
4.14 IB is strictly not authorized to act as an agent, appointed representative, or as any authority of the Company. For the avoidance of any doubt, IB will not make any recommendation, give advice, accept any commitment or guarantee, or accept any responsibility on any matter whatsoever for or on behalf of us.
5. Services provided by Partner (IB)
5.1 Introduce Customers who fully meet our qualifications and suitability standards on a fully disclosed basis.
5.2 Deliver to Customer, and obtain from Customer and deliver to Otet Group LTD all documentation including, but without limitation, the Customer Account Opening Package, notices, and notifications.
5.3 Obtain and verify Customer information including, but not limitation, Customer details, information on the reputation of the Customer, its financial capacity, and trading objectives.
5.4 Fairly and accurately describe our business and profile according to the information we provide.
5.5 Maintain ethical practices high standard of business, and conduct its business in such a manner to reflect favorably on us.
5.6 Comply with any business-related instruction, terms, or direction we give about IB services.
5.7 Keep records of all Customer Agreements, legal documents, diligence reports, or any other information that may arise during business with us.
5.8 Authorize us to inspect or conduct any due diligence it may require occasionally, without any limitation or means of investigation.
5.9 Notify us orally and in writing upon receipt of any Customer complaints or pending or threatened action raised against us in connection with any alleged errors, corrections, or any other matter on any Customer account.
6. The Introduced Client’s Rights
6.1 In case of necessity, the Introduced Client may leave the group of their IB/Affiliate and move their profile and trading account(s) under another IB/Affiliate. The Company shall not interfere with the Introduced Client's decision.
6.2 To move the profile and trading account(s) to another IB/Affiliate group, the Introduced Client shall send a request to [email protected] or [email protected] mentioning trading account(s) numbers, if any, and the new IB/Affiliate's ID and IB account number.
6.3 The Company reserves the right to resolve disputable situations between the Introduced Client and the IB/Affiliate(s).
7. Settlement Procedure
7.1 The Partner commission is to be calculated once a day, only for complete transactions made by the Partner's attracted clients according to the requirements of this Agreement.
7.2 The partner commission depends on the type and level of the Affiliate Program and is calculated as a percentage of the broker revenue for a transaction. Rates of the partner rewards are listed at the end of this Agreement.
7.3 Any unpaid affiliate commission during the inactive period will not be compensated retroactively upon program reactivation.
7.4 The Company has the right to amend the terms of calculation and payment of the partner commission unilaterally.
7.5 In case of increased costs associated with hedging the trades of a client or group of clients attracted by the Partner, the Company is entitled to reduce the size of affiliate payments on such customers.
7.6 When calculating the commission, the Company can only consider Clients' transactions due to the trading platform's shortcomings.
7.7 If a dispute arises concerning an order for which a commission was paid, the Company reserves the right to cancel the commission received for the transaction.
7.8 The Parties independently and independently execute their tax and other duties concerning third persons.
7.9 When processing a withdrawal request from the partner account, the Company shall use its internal currency rates as of the time of the request processing.
7.10 The withdrawal and transfer of funds from an affiliate account are available only after the complete verification of the Partner.
7.11 The Partner who has passed complete verification shall be entitled to withdraw funds in any payment system available in the "Withdrawal" section of their Members Area.
7.12 Partners are charged for all costs associated with withdrawing funds from affiliate accounts unless the withdrawal is made on specific days when the Company can allow free withdrawals with limitations for eligible clients.
7.13 The Partner bears full responsibility for the adequacy of all the information in their application for the fund withdrawal.
7.14 The withdrawal of funds from the Partner account is accomplished within two business days from when a relevant application for the withdrawal of such funds has been confirmed in the Members Area.
7.15 In case the payment system stops operating for some time, the Company has the right to postpone the date of withdrawal until the payment system resumes working.
7.16 The Company reserves the right to ask the Partner to provide reliable data about their full name and the details of their Passport or ID when withdrawing funds.
7.17 The Company undertakes to take any expedient actions to preclude any illegal financial operations and money laundering by employing the Company’s resources.
7.18 The Partner is to share a part of their Affiliate commission based on the trading turnover in the accounts of the specific clients that the Partner attracted by the terms of the "Rebates for client" service.
7.19 The Partner is to share a part of their Affiliate commission based on the trading turnover in the accounts of the specific clients that their sub-partner attracted by the terms of the "Rebates to sub-partner" service and the Multi-Level Partner Commission System.
8. Settlement of claims and disputes
8.1 In case there is any dispute arising out of or in connection with the fulfillment of this Agreement, the Parties shall do their best to settle such situations using negotiations.
8.2 In any case, before an action can be instituted in the court, the Parties shall undertake to respect the mandatory claimant's procedure. The claimant Party shall deliver the claim within five days from when this Party knew or should have known that its rights were violated.
8.3 Claims in respect of lost profit shall not be considered.
8.4 All claims shall be sent via the following means: email to the address [email protected], ticket in their Members Area (https://my.otetmarkets.com/helpdesk/create-a-ticket).
8.5 The Partner’s claim shall be considered within at most ten business days.
8.6 Should the disputable case not be described thereby, the Company will pronounce judgment as it finds fit, according to the judicial practice.
8.7 The Partner acknowledges and agrees that the program will operate by the specifications outlined in the Partner Agreement. The Partner further recognizes and agrees that any features or functions not expressly described in the Partner Agreement shall not form the basis for a claim or cause of action against the Company.
9. Sub-IB
9.1 An Introducing Broker/Affiliate that refers another IB/Affiliate to their group becomes a Master -IB, while a referred IB/Affiliate becomes their Sub-IB.
9.2 Each Introducing Broker/Affiliate can be at both levels of the program and be the Master-IB and the Sub-IB simultaneously:
This means the Sub-IB Tier 1 who refers another IB/Affiliate to the Company becomes a master IB for their introduced IB/Affiliate, and the introduced IB/Affiliate becomes Sub-IB Tier 2 of the first Master IB.
9.3 If the Sub-IB Tier 2 brings a new IB/Affiliate to the Company, the referred IB/Affiliate becomes Sub-IB Tier 3 of the first Master IB, and Sub-IB Tier 2 will be the Master IB for Sub-IB Tier 3.
9.4 Both the Master-IB and the Sub-IB shall automatically agree to the terms of this Agreement the moment they become Introducing Brokers/Affiliates. The Company shall not be liable for any agreement between the Master-IB and his Sub-IB.
9.5 Master-IB receives the IB/Affiliate commission from the qualified trades of their referred Clients and Sub-IBs and the Sub-IB commission from trades of the Clients referred by their Sub-IBs. The Company fully covers the IB and Sub-IB commission.
9.6 The size of the IB/Affiliate and Sub-IB commission falls under the IB Compensation Schedule agreed with the Business Development Manager.
9.7 In a Master IB network, IB needs at least one active Client to be eligible for rebate compensation unless stated otherwise.
10. Force Majeure
10.1 In agrees that we will not be held liable for any costs, damages, or losses caused by force majeure events, including but not limited to government restrictions, exchange or market rulings, suspension, or delay of trading.
10.2 War, civil disturbances, earthquakes, strikes, equipment failure, communication line failure, program breakdown, unauthorized access, theft, or any problem, technical or otherwise, which may prevent IB or the Customer introduced by IB from entering or modifying an order or prevent us from acting on online instruction, or other events or conditions beyond our control, as determined and at our sole discretion.
11. Terms and Interpretation
11.1 This Agreement shall be for twelve (12) months, commencing on the date this Agreement is accepted by the IB/Affiliate, and will be automatically extended until further notification.
11.2 In the event of termination of this Agreement for any reason, the IB/Affiliate shall promptly destroy all of the information and materials the IB/Affiliate obtained or received from the Company as a result of the relationship created by this Agreement or return them to the Company if requested to do so.
11.3 IB acknowledges and confirms that it has read and understood the Terms in this Agreement and agrees on their terms and conditions. Any failure on our part to enforce our rights and remedies under these Terms shall not constitute a waiver of such right or remedy.
Confidentiality: IB will keep confidential and will not disclose to anyone except with our prior written approval, during and after the relationship with us, all material information it receives during the course of business with us, including but not limited to Customer information, trade secrets, techniques, and other information relating to processes, strategies, and plans.
Severability: Any provision under this Agreement that becomes invalid shall be ineffective to the extent of such invalidity without affecting the remaining provisions.
Assignment: The Company may assign the rights or delegate the obligations under these Terms to a third- party with written notice to IB within 30 days of such assignment. IB grants us the right to transfer this Agreement to any successor organization. IB cannot assign any of its rights or duties under these Terms to any third party.
Headings: The paragraph headings in this Agreement are inserted for description purposes only and are not intended to limit the meaning of any of the Terms.
Entire Agreement: This and the attached Annexures between us and IB constitute the entire Agreement between us and IB. We have made no representations or warranties other than those expressly provided within these Terms.
Active Client: is a client from the Partner’s affiliate group who has made at least one transaction that meets the requirements of the affiliate commission payments over the last 30 days.
Banner: is a graphical ad block with a hyperlink to the Company's Website, which the Partner places on different Web resources to attract new clients.
The Company: is Otet Markets Ltd.
Lot: is a unit to measure the amount (volume) of the order.
Members Area: is the Partner's page on the Company's Website. The Multi-Level Partner Commission System is a system in which the Partner is paid a commission for the trades of clients attracted by their sub-partners.
Sub-Partners (Sub IB): are the Partners who are registered in the Company and are included in another senior Partner’s affiliate group.
Partner: is an individual or a legal entity attracting new clients to the Company and acting under this Agreement on behalf of the Company.
Affiliate Group: The Partner attracts a group of clients and sub-partners.
Promotion Campaign: is the Company’s activities to create and maintain the interest of clients of the Company.
Redirect: is an automatic redirection of a user from the web page they are on another web page or Website.
Referral Link: is a link to the Company’s Website, which contains the Partner’s Agent ID and is placed by the Partner to attract clients. A static link should be in the HTML code of the Website and have the class="Agent ID" attribute. Links generated on the web page dynamically with the help of JavaScript, Flash, or similar technologies do not meet the definition of a static link.
Company’s Website: otetmarkets.com and other official websites of the Company.
Agent ID: The Company provides the Partner with a unique identification code to register clients attracted by the Partner.
Verified Partner: there is a procedure for documenting the personal data of the Partner. The Partner is considered fully verified if they passed the passport and address verification, after which the status will be changed to "Verified" in the relevant sections of the member's Area on http://my.otetmarkets.com/profile/verification-of-the-documents/.
IB Commission Structure and Tables:
- IB will be eligible to earn a commission on Active Traders.
- An Active Trader is a client who must place at least one trade.
- The IB will be compensated on a trade-by-trade basis.
- IB cannot refer to themselves as Introduced Client (personal trading account), nor can they refer to relatives or other affiliated parties.
- The Company has the right, in the event they identify or assume any abuse on the trading activity of the Introducer, to take any action they deem fit to remedy the situation, including but not limited to detaching the Clients from the Introducer and terminate the Agreement immediately, with written notice.
- The Company reserves the right not to compensate an Introducer if it reasonably believes that:
- Introduced clients are opening and closing trades instantly to generate commissions (rebates).
- Transactions are opened and closed solely for the benefit of earning compensation for the Introducer or any money manager, fund manager, or Strategy manager introduced to the Company.
- Any form of market abuse or market manipulation may have taken place.
- Any transactions opened and closed in less than or equal to 120 seconds will not be compensated to the IB.
- The Company reserves the right to withhold or modify payment, modify or terminate the Agreement if it is deemed that a significant portion of the Introducer’s payment is derived from trading on one account, as well as the total amount of Introducer’s compensation from a trading account exceeds 60% (sixty percent) of total net deposits for that specific account.
- The Company and the Introducer agree that commission will be earned based on the below tables. Please note that in case of inactivity for two months, you will be downgraded to a lower campaign.
In case the Client is unable to keep up with the requirements of each campaign for two months, they would be downgraded to a lower campaign.
- In the Basic campaign, when you have a minimum number of 1 client, you must have a balance of at least 20 USD in your account and also a minimum of one trade with any lot size and a duration of at least 120 seconds.
After evaluating the IBs, the commission table is made available to the accepted individuals through the dashboard.
In no circumstances would the Company or any of its subsidiaries and affiliates companies or any of its employees initiate unsolicited emails or telephone calls requesting organizations or individuals to invest in or trade online in financial instruments in any project or transaction, nor to disclose or confirm personal or financial information, the Company will never request from individuals to transfer fund to personal Accounts not in the name of the Company. The Company official website operates only under one domain name https://www.otetmarkets.com, and is not connected with the hosts of any other websites that may look similar to its official website. You may access the Company website by typing the above domain name into the address barof your browser, or by bookmarking the genuine website, or contact us through official phone numbers mentioned in our website.If you receive any suspicious messages or identify any suspicious websites that purport to be related to the Company, please email: [email protected] or contact our customer services on the official phone number to confirm your engagement with us.
Otet Group Ltd. (hereinafter called as the “Company” or “we” or “our” or “us”) is registered and authorised by the Marshall Islands by number 118922, uses cookies on our websites. By using our websites, you consent to the use of cookies.
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Yes, Otet Markets Brokerage is regulated by the Comoros Financial Regulatory Authority with registration number HY00523012. It holds a financial activity license with license number 118922 from Marshal Islands and is registered with a financial activity certificate number 254900HJ0CZRZVRN8C30 on the Bloomberg LEI website.
The central office of Otet Markets brokerage is located in Limassol, Cyprus.
To collaborate as a business partner with Otet, after verifying your identity, log in to your user account and click on the ‘Links’ option in the IB Room section to register your IB link activation request. After approval, you will be provided with a collaboration link, and any user who registers and trades using this link will have their trading commission charged to your exclusive wallet as an IB. For other collaborations, you can also send an email to the organizational email address at [email protected].
Otet Markets operates 24 hours a day, 7 days a week, and due to the non-stop nature of cryptocurrency markets, even on official holidays, the brokerage’s support team is available to assist customers.
Our primary priority at Otet is our customers, and with a belief in the high position of customers in our brokerage, we base our activities on providing advanced facilities, expediting and facilitating financial transactions, and providing quick and accurate responses to customers.
Otet Group LTD is a financial brokerage company regulated by Comoros Union (MISA), license No. T2023304 registration No. HY00523012 and also registered in the Republic of Marshall Islands, registration number 118922, Otet Markets has an Identification of legal financial activities (LEI) No. 254900HJ0CZRZVRN8C30 from Bloomberg. Address: Vasili Vryonides St. 6, Gala Court Chambers, Office 203-204, 3095 Limassol, Cyprus.
Risk Warning:
Otet Group LTD offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both way to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience; therefor, seek independent advice, if deemed necessary.
Otet Group LTD does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Otet Group LTD is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. The service is not available for residents of Türkiye, Canada and the United States.
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Otet Group LTD, all right reserved 2023