Otetmarkets.com is the official website of the Otet Group:
2023-00595, being a brokerage company,
(each hereinafter referred to as the “Company”).
Your access to and use of this website is subject to these terms and conditions, our Client Agreement, and any notices, disclaimers, statements, policies, as well as other documents contained on this website
(collectively referred to as the “Terms and Conditions”).
By using this website, you agree to be subject to the Terms and Conditions.
The Terms and Conditions constitute a public offer with standard conditions. This offer is considered accepted when you perform actions indicating your consent, such as accessing, using our website, our services. By doing so, you completely agree with the Terms and Conditions.
The information contained on this website is not guaranteed, is strictly for information purposes only and subject to change without notice.
Although the information and materials allocated on our website are 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 (safe for the Terms and Conditions remaining actual and complete) . 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 and materials.
The securities, other trading assets, financial instruments , 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.
If you disagree with any part of the Terms and Conditions, you should immediately cease using our website.
By accessing or using our services, you confirm that you were provided with access to the Terms and Conditions before their acceptance, and you had sufficient time to review it carefully and copy them if needed.
You may only use our website and services, if you are not legally prohibited from receiving our services under the laws where you are residing, registered.
You are advised that Chat and Instant Messaging conversations are recorded and may be used for compliance, training and other purposes specified in the Terms and Conditions.
Conversations on Chat or through Instant Messaging is for your general information only and the Company is not soliciting any action based upon it. It does not take into account the particular investment objectives, financial situation or needs of individual clients. Before acting on any information in any Chat or Instant Message, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice.
Your use of this website may be monitored by the Company, and the outcoming information may be used by the Company for its internal business purposes and other operating and regulatory processes.
For details of your personal data handling please refer to our Privacy Policy.
The information and materials on this website have been prepared for informational purposes only (safe for the Terms and Conditions remaining actual and complete) without regard to any particular user’s investment objectives, financial situation, or means, and the Company is not soliciting any action based upon it.
Provision of the information and materials on this website does not constitute nor should it be considered a recommendation that you enter into a particular transaction, nor a representation that any service described on this website is suitable or appropriate for you.
You should neither construe any of the material contained in the website as business, financial, investment, hedging, trading, legal, regulatory, tax, accounting or other advice, nor make its content the primary basis for any investment decisions made by or on behalf of you.
You are advised to consult your personal financial adviser, attorney, and tax, and accounting and other advisors concerning any contemplated transactions.
Many of the securities, other trading assets , financial instruments described on this website involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you.
Any discussion of the risks contained herein with respect to any securities, other trading assets, financial instruments should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned.
The company’s Risk Disclosure Statement contains the risks warning and should be reviewed prior to conducting transactions.
Any our material must not to be construed as a recommendation, or an offer to acquire, buy or sell, or the solicitation of an offer to acquire, buy or sell any securities, other trading assets, financial instrument,or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal.
There are legal requirements in various countries which may restrict the information which we are lawfully permitted to provide to you.
You must be over 18 years of age to use the services of the Company.
All content available on our website, is owned, controlled, or operated by us. Such content includes, but is not limited to, text, images, logos, trademarks, graphics, designs, software, data compilations, audio, video, page layout, and any other form of information that can be stored in a computer or device and is displaying on or forms a part of this website.
By accessing or using our website you acknowledge and agree that such content is protected by copyright, trademarks, and any other intellectual property rights. Nothing on the website must be interpreted as granting by implication or otherwise, any license or right to use any logo, trademark, or service mark displayed on our website without the respective prior written consent.
Except where necessary in order to view the information on this website on your browser, or as permitted under the applicable laws or the Terms and Conditions, no information or content on this website may be reproduced, adapted, uploaded to a third party, linked to, framed, performed in public, distributed or transmitted in any form by any process without our specific written consent.
You acknowledge that the Company shall be entitled to require you to remove any link from another website to this website which you allocated without obtaining the Company’s prior written consent.
Any third-party intellectual property used by us in the content of our website should not be interpreted as meaning that the third-party owner sponsors, endorses or is in any way affiliated with us or with our business, nor that they make any representation regarding the advisability of using our products.
This website may contain information and materials produced by third parties or links to other websites. Such materials and websites are provided by third parties and are not under the Company’s direct control.
The Company provides such links solely as a convenience to you. Accordingly, the Company makes no representations concerning the content of these sites. The fact that the Company has provided a link to these sites does not constitute an endorsement, authorization, sponsorship, or affiliation by the Company with respect to these sites, their owners and providers.
We are not responsible for any hyperlinked Internet sites through this website, and are not responsible for any losses incurred in connection with those sites.
You are strictly prohibited from using our website and Services if you engage in any of the following behaviors, whether intentionally or unintentionally, including but not limited to:
9. The Company’s liability
The Company is not liable for any damages including, without limitation, damage to your computer or computer system or settings, loss of data, revenue or profits, which you may suffer arising out of your use, delay in using, or inability to access this website, or in any other way connected with this website, including from the downloading of any software from this website. The Company disclaims any representation or warranty that the website or materials will meet your requirement or that the website or any software will be uninterrupted, secure or free from errors or viruses.
Any services, data, tools on the website are provided “as is” and on an “as available” basis. We reserve the right to update the information on our website at our discretion. To the maximum extent permitted by the law, we provide no expressed or implied warranties of accuracy, compatibility, reliability, wholeness, integrity, usefulness of our website. Any reliance you place on such information is therefore strictly at your own risk.
We will not be held liable to you in respect of any losses in connection with our website, arising out of force majeure events.
To the maximum extent permitted by law, we accept no liability to you in connection with the website for any of the following, including but not limited to:
Abnormal market conditions mean Fast market.
Account history means a list of completed transactions and non-trading operations on the Client’s account.
Account type means the terms of the trading account. The types of accounts offered by broker are listed on the Trading Terms web page. The Client cannot change the type of account once it has been created.
Affiliated accounts are the trading accounts opened by affiliated persons noticed by the use (but not limited to) of the same identification details, payment or network details (accounts managed from one IP address, or/and with the same cid are deemed as a single trading account).
Affiliated persons are the individuals, whose relationships can impact on the terms or financial results of the Company's activity. Affiliated persons can be deemed as such if their passport details, address, phone number, email address, IP address, cid, payment details etc are the same.
Ask means the higher price in the quotation; the price the Client can buy.
Balance means the total financial result of all completed transactions and depositing/withdrawal operations (except for credit operations) on the trading account.
Bar/Candle means a feature of a price chart that shows the opening and closing prices, as well as the lowest and highest prices for a definite period of time (for example, 1 minute, 5 minutes, a day, a week).
Base currency means the first currency in a currency pair or the currency in which the asset, underlying the Contract for Difference (CFD), is nominated.
Bid means the lower price in the quotation; the price the Client can sell at.
CFD (Contract for Difference) means a contract, which is a contract for difference by reference to fluctuation in the price of the underlying asset (shares, futures, metals, indices etc.)
Clearing means non-cash settlement between Company and its contractors, banks and liquidity providers implemented through mutual settlement based on the terms of cooperation. When clearing is conducted, no quotations are present on trading server, (non)-trading operations are prohibited.
Client agreement means the agreement between the Company and the Client, which together with the Regulations on Trading Operations, Regulations on Non-Trading Operations, Risk Disclosure statement govern the terms by which the Company works with the Client.
Client means a legal entity or individual who works with the Company through agreements that involve margin transactions.
Client's e-mail - e-mail address specified in the Client's Personal account (myfreshforex.com). Requests sent from other email addresses will not be considered by the Company.
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 of covering 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.com.
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;
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:
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 market etc.), 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.
1. The Client hereby acknowledges, represents and warrants that he/she/it has carefully designated a part of his/her/its assets (Owned Capital) as the Risk Capital. The Client further acknowledges that the Risk Capital is an amount that he/she/it prepares to dispose at risk and the loss of this amount will not significantly impact his/her/it financial well-being.
2. The Client hereby acknowledges that trading in foreign exchange, CFDs, shares, goods, other instruments, carries a significant risk of loss. Therefore, the Client must thoroughly assess his/her/its financial capacity and suitability for engaging in such transactions.
3. Upon opening a trading account, the Client selects the deposit currency from the options provided by the Company. All trading and non-trading transactions on the trading account, including floating profits and losses, commissions, fees, charges, other payments, and marginal requirements, are conducted and settled in the chosen currency. The Client accepts and assumes full responsibility for all the risks or consequences associated with of change of deposit currency.
4. When performing non-trading transactions, the Client independently chooses the method and currency of transfer from the options provided by the Company. The Client acknowledges and accepts all the risks arising from fluctuations in the Company's internal exchange rates, and assumes full responsibility for any resulting consequences.
5. The Client acknowledges that he/she/it may lose all the initial Risk Capital and any additional Risk Capital deposited to support and maintain his/her/its market positions. Furthermore, market conditions may result in losses exceeding the remaining balance in the Client’s trading account.
6. Placing limit orders such as Stop-Loss does not guarantee that losses will be limited to the specified amounts, as certain market conditions or some external factors may disrupt the execution of such orders.
7. The high level of fluctuations typically observed in the trading, combined with relatively not high margin requirements, can work both for you as well as against you. These fluctuations may 2 result in both significant losses and substantial profit. The Client assumes full responsibility for all risks, financial resources used and the chosen trading strategy.
8. When performing trading operations through the client terminal, the Client shall assume the risk of financialloss, which can be caused by the following:
a) Failure or malfunction of the Client hardware, software and Internet connection;
b) Improper operation of Client equipment;
c) Incorrect settings configured within the client terminal;
d) Delayed in the Client’s terminal updating to the latest version;
e) The Client’s ignorance of the applicable rules outlined in the MetaTrader User Guide.
9. The Client acknowledges that only one request, instruction or order may be processes at a time. Any additional requests, instruction or orders submitted by the Client while the previous one is still in the queue may be declined, delayed.
10. The Client acknowledges that the only reliable source of quote information is the server designated for live accounts. The quote database displayed in the Client’s terminal shall not be considered reliable, as during the periods of high market volatility or poor connection between the Client’s terminal and the server, certain quotes simply may fail to reach the Client’s terminal.
11. The Client shall acknowledge that once a request, instruction or order to place/modify/delete, or to open/close a position, is sent to the server, it cannot be canceled by closing the corresponding window in the Client’s terminal.
12. The Client acknowledges and agrees that in the event of Stop Out (situation, when Margin Level reaches or falls below the Stop Out value determined in Trading Conditions section on the website of the Company), the liquidation of open positions will occur automatically. This process works independently on any actions by the Company, and any intervention by the Company is unacceptable.
13. The Client acknowledges and agrees that the trade server checks the availability of the sufficient Free Margin level on the trading account, when the Client tries to open a new position. However, it does not consider upcoming expenses, such as spread and commission, fees, other charges, associated with maintaining the current position. Due to high leverage, the Client may open a position of such volume that actual expenses for spread and commission, fees, other charges, could result in insufficient funds on the trading account, triggering the forced closing of positions. 3 This occurs when Margin Level reaches or falls below the Stop-Out value as specified in the Trading Conditions section on the website of the Company. In this case the Client assumes full responsibility for losses incurred as a result of this situation, as the Client determines volume of his/her/its new positions.
14. The Client acknowledges that the Company is not held liable for any losses caused, whether directly or indirectly, by government restrictions, currency or market rules, interruptions, disruptions in markets trading, military operations or any other circumstances, usually classified as “force majeure” and which are beyond the Company’s reasonable control.
15. Transacting by means of electronic trading system may differ from both, transacting in the interbank market, as well as from transacting based on other trading systems. When the Client transacts using an electronic trading system he/she/it assumes the risk associated with the electronic trading system, including any software issues.
16. The Client undertakes to maintain the password in secret and prevent unauthorized access to the Personal Area and trading accounts. The Client is bound by trade obligations in respect of the Company for trades done using the Client’s password, even if it is used by a third party.
17. If any quote fails, the Company is entitled, but not obliged to, to make necessary changes and resolve any disputes immediately.
18. The Company is not responsible for payment processing delays, failures, or disconnection caused by third parties. The Company will not reimburse for any direct or indirect losses and moral damage resulting from such delays, failures and/or disconnections.
19. The Client acknowledges and agrees that the Company shall not be liable for his inability to authorize in the Client Area or trading account.
20. This brief risks notification does not address all the risks associated with the trading on financial markets.
21. Day trading is a high-risk activity unsuitable for individuals with limited resources, experience, or low risk tolerance, as it often leads to the loss of all Risk Capital. It should never be funded with money essential for retirement, education, emergencies, or living expenses. Those 4 considering day trading must understand its speculative nature and ensure it does not jeopardize their financial well-being.
This Privacy Policy governs privacy of the clients, visitors, partners, representatives, beneficial owners of clients – legal entities, partners-legal entities (“you”, “your”, “user”) of https://otetmarkets.com (“Website”), served and operated by us,
(“we”, “us”, “our”, the reference to the “Company” means the reference to each of the above companies) and describes what Personal Data is collected and how it is used, processed, stored and managed by us, under the applicable legislation, while you visit or use our Website, our services (the “Services”) or enter into partnership agreement with us (“Partnership Agreement”).
One of our main priorities is to protect the privacy and safeguard of the personal and financial data of our current and potential clients, partners and the Website visitors. It is explained in this Policy how the we collects, processes and protects the Personal Data.
Note: the present Policy extends only on the Website and does not extend on websites of other companies, persons or the organizations references on which contains the Website.
This Privacy Policy also serves as a privacy notice, informing you about why and how we collect and manage your Personal Data.
If you use our Services, execute Partnership Agreement, you acknowledge that you have read and understood all of the terms and guidelines. By using our Services, executing Partnership Agreement, you expressly agree to this Privacy Policy and expressly consent to and agree to the processing of your Personal Data as set forth herein. Consent provided by you under this Privacy Policy is treated taken as given in a written form.
This Privacy Policy is governed, construed, interpreted, and enforced in accordance with the laws of Comoros, Saint Lucia, and the European Union. If any term of this Privacy Policy is found to be inapplicable or unenforceable under the law, it will have no effect on the application or enforceability of the remaining elements of this Privacy Policy. If you do not agree with this Privacy Policy, you should immediately stop using our Website, Services, terminate Partnership Agreement.
We reserve the right to change, vary, and revise this Privacy Policy whenever lawfully required or in light of marketing, commercial, technological, or other upgrades, or as we deem necessary. Unless clearly specified differently, such revised or updated versions will take effect as of the publishing date. By using our Website, Services, executing Partnership Agreement, you agree to and accept the terms of this Privacy Policy, including its modifications. If you do not agree with any revision, alteration, or update, you must discontinue using our Website, Services, terminate Partnership Agreement.
The Company is responsible for Personal Data in its possession or custody, including information that has been transferred to a third party for processing.
The Company hereby confirms that it in compliance with the the GDPR, Data Protection Act of Saint Lucia (related to the Company registered in Saint Lucia), proper data protection regulation of the Comoros (related to the Company registered in Mwali) (the “Applicable Legislation”).
We only use Personal Data for the purposes outlined in our Privacy Policy. We only transfer your Personal Data to other parties if it is necessary, as described below.
The collection of Personal Data is limited to that which is necessary for the purposes identified by us. Both the amount and the type of information collected is limited to that which is necessary to fulfil the purposes identified.
The Company uses contractual means to provide a comparable level of protection while the information is being processed by a third party.
The Website or programming interface necessary to access the Services may contain links to third-party websites, plug-ins, and apps. Clicking on those links or activating those connections may allow third parties to collect and share data about you. We have no control over these third-party sites and are not responsible for their privacy statements and policies.
Collecting and processing of the Personal Data by us is mandatory, if you use the Website, our Services, enter into Partnership Agreement relations with us. If you reject providing necessary Personal Data to us, we are entitled to reject in entering into contractual relations.
Depending on whether and how a client, partner uses our Website, Services, how a partner interacts with us under Partnership Agreement, we will collect, use, store, and transfer various types of your Personal Data, which are divided into the following categories.
Category of Personal Data
Identity Data:
Your e-mail address, first name, maiden name, last name, username or other identifier, date of birth, gender, residential address, postal address, citizenship, contact phone number, trading account, demo account details, partner’s account details, your Personal Area details, source of funds, and wealth.
Identity documents (national identity cards, passport, driving license or other forms of identification documents), proof of address documentation, occupation, employment industry, financial standing.
Confirmation that you are a director, board member, employee, representative, or an owner or an ultimate beneficial owner etc. of a company being our client, partner, information on the ownership and control structure of a client – legal entity, a partner - legal entity.
Please note that we may also ask you to prove ownership or control of a particular your external account to which and from which the transfers are made to and from the trading account, partner’s account opened with us. We are required to ask for this information to comply with Anti-Money Laundering (“AML”), Counter-Terrorism Financing (“CTF”) requirements, and to ensure we safeguard against and report any suspicious activity.
Biometrics:
Photo, video, audio of Personal Data subject, other biometric identifiers and/or biometric information of Personal Data subject.
Partnership Information
Structure of partners (Master Partner and Sub-Partners, their connection, tiers), each partner’s ID, referral link, each partner’s group clients, other details, calculation of commissions, other payments due to each partner, calculations history.
Social identity data and Preference Data
Data on referrals to you, close connections, preferences, interests, favorites, risk assessment, compliance evaluation, work address, and groups.
Your marketing and communication preferences, survey replies, and connections with others whose Personal Data we may collect or store.
Verification Data
Personal Data which we collect for the purpose of conducting client, partner due diligence under applicable AML/CTF laws, photo, direct video transmission recording.
Background Data
We collect as well Personal Data available in open source.
Transactions, operations data
Personal Data regarding your trading operations, non-trading operations, transactions activity logs, billing, settlement details obtained by us when you use our Services, perform your role under the Partnership Agreement; trading and non-trading orders, instructions, transfers detail, history; other details of any operations, transactions you enter into using the Website, Services, or initiate, perform under Partnership Agreement; partner’s commission accrual and payment (including to master partner, sub-partner).
Technical Data
Domain and host from which you access the Internet, operator and carrier data, your computers or other usable devices IP address, device type, category and model, web browser type and the operating system software, unique IDs of your devices, time zone setting, location data, language data, operating system and platform, diagnostics data such as crash logs and any other data we collect for the purposes of measuring technical diagnostics, and other data.
Profile Data
Your username and password, login data, your identification number as our client, partner, requests by you for Services, requests under Partnership Agreement, communication between us and you, a client or partner.
Marketing and Communication data
Your preferences in receiving marketing from us or third parties, communication between us and you, your survey responses, voice record of communication between you and us.
This data is not exhaustive and is intended to provide you with an idea of how to use fundamentally obtained data. We shall keep a record of the data collected and the purposes for which it is processed.
It may be impracticable to deal with you on an anonymous basis or using a pseudonym.
Please be noted, that if you directly disclose your Personal Data, or sensitive Personal Data (such as, among others, racial or ethnic origin, political opinions, religious beliefs or other beliefs of a similar nature, physical or mental health, membership in any organizations etc.), through public features, this information may be collected and used by other persons.
Furthermore, we consider certain categories of Personal Data to be sensitive, and such sensitive data requires additional safeguards. We will only collect, use, store, and transfer your sensitive data if we can meet both, the legal basis requirement and at least one of the required extra conditions.
The additional conditions are as follows:
For the purposes of the applicable law, we as Data Controller of your Personal Data must securely retain any data submitted by you to us and/or received by us otherwise.
We may use your Personal Data, for the following purposes (which are considered to be informed to you before or when you (or client – legal entity where you are a representative, or beneficial owner) start using Services, Website, execute Partnership Agreement):
Purpose
Contractual Purpose
to register you at our Website, to enter into, perform agreement, Partnership Agreement, and deliver Services properly (which may include disclosure to relevant third parties as defined by us); to process and deliver Services and any Website features, additional benefits from partnership, to you, including to execute, manage and process any trading and non-trading instructions or orders you make; to manage, process, collect and transfer payments, trades, transfers, fees and charges, and to collect and recover payments owed to us;
Analytical Purpose
to collect general and particular statistics of the Website use, activities of clients, for sending communications, notices, updates, surveys; for client service support and ancillary purposes; to collect statistics regarding use of our Website concerning visits and activities of clients, potential clients on our Website, including analytics services such as Google Analytics, etc. (this analysis helps us run our Website more efficiently and improve and personalize client's online experience), to keep our records updated and to study how clients use our Services;
Marketing and Advertising Purpose
to send you welcome email following registration procedures; to send you occasionally our Services updates, partnership terms and conditions; to contact you for surveys purposes (you do not have to respond to such surveys); for other marketing purposes; to advertise our Services, partnership to you and understand the effectiveness of the advertising we serve to you. We could use your Personal Data and decide which Services and offers may be relevant for you. You will receive marketing communications from us if you have requested information from us and consented to receive marketing communications, or if you have purchased from us and you have not opted out of receiving such communications.
Compliance Purpose
to maintain accuracy of our records; to verify your Personal Data for the purpose of managing our client relationships and observing the Know Your Client (“KYC”) rules; to comply with legal and regulatory obligations with respect to AML/CTF, prevention of criminal activity and lawfully protect our legal interests, make relevant risk assessments and management; to use the services of financial institutions, crime and fraud prevention companies, risk measuring companies; background checks, detect, investigate, report and prevent financial crime in broad sense, obey laws and regulations which apply to us and resolving them;
Communication Purpose
to contact a client for administrative purposes such as client support service, address technical or legal issues related to the Services provided, partnership, or share updates and notifications about the Services, partnership.
Note that we may process your Personal Data for more than one lawful ground depending on the specific purpose for which we are using your data. If you need details about specific grounds for Personal Data processing by us, please contact us.
We will only use your Personal Data for the purposes for which it was collected, unless we reasonably believe that we need to use it for another reason, which is compatible with the original purpose. If you need an explanation of how the processing for the new purpose is compatible with the original purpose, please contact us. If we need to use your Personal Data for an unconnected reason, we will tell you and explain the legal basis for doing so.
We may also need to process your Personal Data in connection with or during the negotiation of any merger, financing, acquisition, business transfer, assignment, bankruptcy, dissolution, transaction, or procedure involving all or a portion of our shares, company, or assets. This will be based on our legitimate interests in carrying out the transaction or meeting our legal responsibilities.
We use different methods to collect information from and about you, including through:
A client may provide us with Personal Data by directly communicating with us, such as by filling out forms, uploading a visual image of yourself to the service, sending an email, or otherwise. This includes Personal Data a client supplies when applies for Services, visits our Website, Services, enter into Partnership Agreement with us, provides feedback or contacts us, responds to advertisements sent to a client, or participates in a poll, including through social media channels. We also collect Personal Data when we provide assistance or support to clients or potential clients regarding our Services, support to partners.
When you connect with us through our Website, we will automatically collect your Personal Data. We collect this Personal Data using cookies, server logs, and other methods. Though such information is not submitted by a client, it relates to you and is considered Personal Data under the Applicable Legislation. It has two subtypes: 1) Static (once created, this information usually remains constant. For example, an internal user id. 2) Dynamic (this subtype fluctuates depending on the activities you conduct).
We also obtain information about you from third parties or publicly available sources, or when a client does not provide it directly (e.g., an IP address).
Data security is extremely important to us, and we organize and implement all necessary and relevant procedures and technology to safeguard and secure your Personal Data collected by us. Security measures are implemented to protect Personal Data from involuntary or unauthorized processing, disclosure, or destruction.
Personal Data is protected by us by security safeguards appropriate to the sensitivity of the information.
Our security safeguards protect Personal Data against loss or theft, as well as unauthorized access, disclosure, copying, use, or modification. The Company protects Personal Data regardless of the format in which it is held.
Depending on the nature of the risks presented by the proposed processing of your Personal Data, we will have in place the following appropriate security measures:
We ensure that the above measures provide a level of security appropriate to the special risks that exist in the processing of the Personal Data and the nature of the Personal Data being processed.
Unless we are required or permitted by law to do so, and subject to our relevant third-party business relationships (our partners, service providers, contractors, agents, financial institutions, social media etc.), we will not disclose your Personal Data to any irrelevant third parties for security purposes.
We also restrict access to Personal Data to just those personnel, contractors, advisors, and auditors who need it to perform their job or service tasks. Personal Data is only accessible to our personnel and contractors that require it for their work. We conduct periodic evaluations to verify that appropriate information processing rules and procedures are understood and followed. All of our physical, electronic, and procedural precautions are intended to follow applicable laws and regulations.
To utilize all of the features and functions of our Website, you may be asked to submit certain Personal Data, including your password(s). You are responsible for keeping your password(s) confidential and secure.
While we strive to protect your Personal Data, please keep in mind that the transfer of any information over the Internet is not completely secure and is done at your own risk and discretion. We cannot, therefore, guarantee the security of your Personal Data transmission to our Website when it is outside our reasonable control.
While there is an inherent risk in sharing data over the Internet, we have implemented suitable security measures to protect your Personal Data from being mistakenly lost, used, damaged, or accessed in an unauthorized or unlawful manner, altered, or disclosed.
We need to make you aware of your rights. The rights you have depend on the reason we are processing your Personal Data.
Unless otherwise set forth by the law, within 30 days upon your request, we provide you with the copy of the Personal Data which we process.
We may transfer your Personal Data to the following third parties:
We have taken steps to guarantee that third parties which process your Personal Data have appropriate technological and organizational safeguards in place to secure this Personal Data, and we will also ensure that they are compliant with the Applicable Legislation. We have taken precautions to guarantee that third parties contracted by us preserve the confidentiality and security of Personal Data, and that Personal Data is handled exclusively for the purposes set forth in this Privacy Policy.
Personal Data shall not be processed (or cause to be processed) in a country that has not been designated by the European Commission as providing an adequate level of data protection unless it has put in place such measures as are necessary to ensure such transfer is in compliance with personal data protection laws, except where otherwise required by applicable law. However, when collected Personal Data is transferred outside of the EEA, we must guarantee that the appropriate safeguards, such as standard contractual clauses and data processing agreements, are in place.
On our Website we include or may include references or links to third-party websites. External links can be clickable text, banners, or picture connections to other websites, with no restrictions. We have no control over outbound websites and are not responsible for their content, terms of service, or policies. This Privacy Policy applies only to this Website and does not cover your use of other websites, including those of our partners and service providers, social media, and so on. We recommend that you review the privacy policies of other websites before using them.
We may contact you via phone, email, SMS, or push notification to advise you about current and new Services, partnership conditions that may be of interest to you.
We shall guarantee that any email we send as marketing conforms with the Applicable Legislation, proper regulation of the Comoros, and includes an 'unsubscribe' button so that you may opt out of any future marketing communications. You can deny marketing messages delivered via push notifications by declining the applicable permission in your phone or tablet settings, but this will prevent you from receiving further messages from us via push notification. You may also opt out of receiving marketing communications from us by using the contact information provided below.
You can also contact us and request that your information be removed from our marketing list. We will make every effort to remove your information from our marketing list within a reasonable time frame.
Our marketing list may be managed by software and servers located overseas, and your Personal Data may be transported overseas as part of our marketing efforts.
We will also send communications that are required or necessary to send to users of our Website, that contain information about important changes or developments to or the operation of the Website, or as well as other communications you request from us. You may not opt out of receiving these communications but you may be able to adjust the media and format through which you receive these notices.
Where we receive your request to stop the marketing, we must, where the Personal Data are kept only for the purpose of direct marketing, as soon as reasonably practicable and in any event not more than 30 days after the request has been received, erase the Personal Data, or must not process the Personal Data for direct marketing after the expiry of 30 days.
We store Personal Data within the term of its processing by us, third parties engaged by us for Services providing, and additionally 5 years, or 7 years in some cases (unless a longer term is prescribed by the Applicable Legislation) after termination of a business relationship with the client, partner, other cases set forth in the law, unless longer term is required by the applicable law.
If you have any queries in relation to this Privacy Policy, you wish to access or correct the Personal Data we hold about you, or make a complaint, please contact us at:
Email: [email protected] (our Data Protection Officer being authorized officer).
We aim to resolve all complaints as soon as possible. Where we cannot resolve a complaint within that period, we will notify you of the reason for the delay as well as advising the time by which we expect to resolve the complaint.
In order to disclose information to you in response to a request for access we may require you to provide us with certain information to verify your identity. The Applicable Legislation may prescribe exceptions which may affect your right to access your Personal Data.
If you believe that there has been a breach of the Applicable Legislation, we invite you to contact us as soon as possible.
If we become aware of a security breach, we may seek to notify you electronically so that you can take appropriate preventive measures. If a security breach occurs, we may make a notice on the Website.
When Personal Data breach is anticipated to result in a high risk to clients, your rights and freedoms, we will inform you.
If you are not satisfied with our handling of a complaint or the outcome of a complaint you have the right to lodge a complaint with an appropriate authority.
Should we lawfully receive your Personal Data from a third party, you will have the same rights regarding information in question as related to information you provided to us directly or we have collected during cooperation with you.
Our Website uses Cookies (“Cookies”), small text files saved to your computer or device in order to customize and improve your experience while visiting and using our Website, according to our Cookies Policy. We establish constant Cookies for statistics conducting; also, it gives the chance to us to trace and designate our Website and interests of our users and to improve experience of granting of our Services on the Website. Our Website uses a Cookies choice reservation allowing you to accept/enable or refuse/disable the use and saving of our Cookies on your computer or another usable device.
You can read more about Cookies by visiting our Cookies Policy.
Our Privacy Policy is reviewed and updated on a regular basis to ensure that any new obligations and technologies, as well as any changes to our business operations and practices, are taken into account, as well as that it remains abreast of the changing regulatory environment. Any Personal Data we store will be subject to our most recent Privacy Policy.
If we decide to update our Privacy Policy, we will post those changes here and other places we deem necessary.
The following terms has the meaning as defined below:
The Anti-Money Laundering (“AML”), counter-terrorism financing (“CFT”) and know your client (“KYC”) Policy (the “Policy”) is developed and implemented by the following companies of the Otet Group:
(each hereinafter referred to as the “Company” or “we” or “our” or “us”).
Each Company is working hard to create a culture that helps to detect and report any incidences of money laundering and/or terrorist financing. Each Company is committed to be in compliance with all applicable laws and regulations regarding anti-money laundering and terrorist financing in the jurisdictions where it is registered.
The proper AML/CFT measures and processes are designed and implemented by each Company. So, each Company:
The Company identifies and verifies the identity of all clients, regardless of whether they are engaged in an ongoing business relationship or a one-time transaction, and whether they are a natural person, legal entity, or legal arrangement. Within the verification process the reliable and proper documents, data, or information are used. Additionally, the Company checks that any representative acting on behalf of a client is properly authorized, and verifies the identity of such representative.
The Company identifies the beneficial owners and takes reasonable measures to verify the identity, using the relevant information or data from reliable sources to ensure accuracy and confidence in the identification process. Please note that the Company could ask a client to provide copies of documents, fill in the forms, and questionnaires as required, and the client is obliged to provide them all.
The Company conducts a thorough risk assessment of its client relationships to identify and evaluate potential risks. This assessment takes into account various factors, including the nature of the relationship, the services provided, the client's location, and the industry or sector in which the client operates etc. The Company applies a risk-based approach to its AML/CFT compliance processes, allowing for the application of stricter measures for higher-risk relationships and more simple measures for lower-risk ones.
The Company could implement a simplified or enhanced due diligence. The simplified due diligence (SDD) is allowed where a risk assessment confirms a lower risk of money laundering or terrorist financing. The enhanced due diligence (EDD) is applied in case of a higher risk of money laundering or terrorist financing and, in particular, in case of clients coming from or based in a high-risk third country or engaged in high-risk business activity. The criteria of clients for the EDD are defined by internal AML/CFT policies and regulations of Company, applicable legislation.
The Company complies with the domestic legislation, but also implements stricter rules for AML/CFT procedures. The Company remains committed to maintaining proper AML/CFT procedures in order to ensure transparency, integrity, fairness, always prioritizing the best interest of the clients.
Clients must provide accurate and up-to-date information and documentation.
The Company reserves the right to request photo or video verification of the client, their representatives, and beneficial owners.
If a client’s identification information changes or if their activities raise suspicion, the Company reserves the right to request updated documentation, even if previous verification has been completed.
The Company identifies and verifies each client’s identity, including determining if the client is a Politically Exposed Person (“PEP”), a close associate of a PEP, or a PEP's family member. Any relationship with a PEP is automatically considered high-risk. Identification of PEP status is based on the client's self-declaration before accessing the Company’s services, as well as ongoing verification of this information. Clients are required to declare that they do not hold such a position.
The Company is responsible for ensuring that it does not conduct business with individuals or entities subject to sanctions laws. To fulfill this responsibility, the Company implements screening procedures for all clients against applicable sanctions lists. This process includes verifying the names of individuals and entities against lists maintained by government agencies and international organizations that identify those subjects to sanctions, embargoes, or other trade or financial restrictions.
The Company also screens transactions to ensure they do not involve sanctioned individuals or entities.
Furthermore, the Company has procedures in place to investigate and report any potential violations of sanctions laws to the appropriate authorities.
The Company also collects information on the purpose and intended nature of any business relationship, and implements ongoing due diligence, monitoring throughout the relationship, including:
The Company acknowledges the critical role of ongoing monitoring in mitigating risks related to money laundering and terrorist financing. To ensure that clients do not present high-risks risks, the Company engages in ongoing monitoring of their activities, which includes:
Ongoing transactions monitoring of client relationships involves:
The personal data we collect is processed in accordance with the Privacy Policy. Please note that the identification process is conducted to comply with the AML/CFT requirements, not because we suspect the Client of any illegal activities.
The Client’s cooperation and understanding of these procedures, as well as the Company’s enquires for documents and information, are essential for effectively combating money laundering and terrorist financing.
Each Company is obliged to comply with AML/CFT and KYC policies and procedures.
All identification documents and services records will be retained for the minimum period of time required by the law, but not less than 7 (seven) years from the relations termination.
This policy is developed to protect both, each Company and the clients. If a client has any questions about the policy, please contact: [email protected]
Under the terms of a public offer (hereinafter referred to as the “Agreement”), Otet Group Ltd. (hereinafter referred to as the Company), on the one hand, and the natural person filling out the registration form to open trading account with the Company (hereinafter referred to as the Client) on the other hand, collectively referred to as Parties, have concluded this Agreement:
Client Agreement
Under the terms of a public offer (hereinafter referred to as the “Agreement”), Otet Group Ltd. (hereinafter referred to as the Company), on the one hand, and the natural person filling out the registration form to open trading account with the Company (hereinafter referred to as the Client) on the other hand, collectively referred to as Parties, have concluded this Agreement:
1. General Provisions
1.1. This Client Agreement and its Addendum thereto as well as any information set forth on the official website of the Company, determine conditions of rendering by the Company of services to the Client regarding trade operations in the international exchange market (FOREX) and contracts for difference (CFDs), including all accompanying services and non-trading operations as well as rights and obligations of the Parties arising in connection to the procedure of rendering and execution of such services.
1.2. Services of the Company hereunder are as follows:
1.3. To receive services of the Company the Client is to complete Personal Area registration procedure on the Company’s official web-site: fill in registration form and accept this Agreement. Acceptance of the present Agreement by the Client shall mean that the Client have thoroughly read it, fully understood and agreed with all terms and conditions thereof.
1.4. The Client agrees that the Company has the right to unilaterally amend, add, rename or leave without changes any services rendered under the present Agreement with the notification of the Client within the period and under the conditions provided herein. Any amendments, additions, renaming of the services shall take effect immediately after notification of the Client in accordance with the procedure set forth in Section 3 herein.
1.5. The Client confirms that the present Agreement applies to the services that may be changed, added or renamed in future in addition to those services that are rendered to the Client at the moment of registration and opening of trading account.
1.6. All financial instruments, transactions to which are performed by the Client in accordance with the terms of the present Agreement, are for settlement. Physical transfer of currency or underlying assets (assets in the basis of the contract) does not take place during contract execution.
1.7. With respect to the Client’s trading operations, the Company executes orders, as well as performs transactions contained herein, without providing trust management and without giving recommendations. Information or research materials published on the official website of the Company, or services provided to the Client in any other way, including through the trade copier services, as well as the private opinion or advice of any third party, do not constitute recommendations for any possible trade solutions. The Client is fully liable for all trading operations on his trading account and for his investment decisions.
2. Procedure of Opening of Trading Account
2.1. It is strictly prohibited to open and use more than one trading account with the Company per the same IP address. Each Client is permitted to maintain only one trading account per unique IP address. It is also prohibited to use the same IP address by different Clients. This restriction pertains to the continuous or repeated, one-time use of the same IP address, where even brief terms of using the same IP address are considered a violation.
The Company monitors and tracks IP addresses associated with each Client, different Clients, to ensure the compliance with the restriction mentioned above.
Any detection of multiple trading accounts use under the same IP address will be considered a breach of this Agreement and could result in the following actions that could be taken by the Company, at its sole discretion:
1) Temporary suspension of trading activity on all trading accounts and asking for the clarification,
2) Closure of all the trading accounts, remaining only one,
3) Closure of all the trading accounts,
4) Legal measures, prescribed by the applicable law, as well as where necessary, to recover any losses incurred by the Company due to such violations.
2.2. In order to open trading account in the Company the Client shall take registration procedure on the official website of the Company – fill out registration form for opening of trading account and accept this Agreement.
2.3. When undergoing registration procedure, the Client may select one of several available types of trading accounts offered by the Company. Specific conditions and peculiarities of service rendering for each type of trading accounts offered are available on the official website of the Company and are the integral part of the present Agreement.
2.4. A person who has filled out registration form for opening of trading account shall be deemed individual whose data is specified in such registration form. The Company does not assume any responsibilities for invalidity and/or unauthenticity of the information provided by the Client during opening of the trading account. The Client assumes responsibility for authenticity and validity of the data provided to the Company, as well as for any potential consequences resulting from its invalidity and/or unauthenticity.
2.5. After filling out registration form, confirmation of registration data of the Client and accepting of the present Agreement a trading account will be opened for the Client, and corresponding codes (login and password) are generated and presented to the Client that provide the Client with access to the personal account and Client’s terminal. Access codes (login and password) are used for Client identification during performance of transactions and management of trading account and funds on it. Login is provided once and cannot be changed in future. Password can be changed at any time at the request of either Party. Changing of the password by the Client him/herself can be performed at any time and does not require notification of the Company. When password is changed on the initiative of the Company corresponding notice is sent to the Client’s email address, set forth by the Client as a contact email.
2.6. The Client can open and manage account in USD or EUR at the Client’s discretion. Account can also be opened in other currencies. The Client can find out the list of available currencies on the official website of the Company or by contacting Client support service.
2.7. The Client gets automatically generated Phone Password (code word) after trading account
registration. This password is used for identification of the Client, when the Client orders trading operations execution via phone or requests information about trading account balance via phone.
2.8. To confirm request on operation of fund withdrawal from the Client’s account an SMS message with dynamic password will be generated and sent to the Client’s mobile phone that was previously indicated by the Client in the registration form. All requests to withdraw funds from the Client’s account, which are not confirmed by a dynamic password, will be automatically rejected.
2.9. The Client assumes complete responsibility for confidentiality of the credentials of his/her trading account, as well as for any trading and non-trading transactions on the account performed by a person duly authorized within trading platform, on official website or server of the Company using credentials of the Client’s trading account. All messages transferred to the Company by a person duly authorized within trading platform, on official website or server of the Company using credentials of the Client’s trading account shall be deemed issued directly by the Client.
2.10. In case of loss of password by the Client the Company has the right to change existing password at the Client’s request. List of the documents needed for Client’s identification is determined by the Company individually.
2.11. The customer hereby certifies that they are neither a resident nor a citizen of the United States of America, Canada, or Türkiye. The customer acknowledges that if this certification is found to be false, all legal responsibility will be borne by them.
3. Information Exchange
3.1. Labor Hours of the Company: around the clock from 00:00 Monday to 24:00 Friday EET (Eastern European Time: GMT+2 winter time, GMT+3 summer time).
3.2. Labor off Hours of the Company: from 00:00 Saturday to 24:00 Sunday EET (Eastern European Time:
GMT+2 winter time, GMT+3 summer time). In addition, the Company’s non-working time include the days of international holidays, entailing the closure of financial markets and stopping the trade of financial instruments, provided in the trading platform. Also, in the event of changes made by liquidity providers, the Company has the right to make appropriate adjustments to the schedule of trading instruments.
3.3. The Company can use following media for communication with the Client:
3.4. The Company shall use for communication with the Client only those details provided by the Client when opening trading account or changed by the Client later in accordance with the established procedure.
Correspondence and information sent by the Company to the particulars set forth by the Client shall be deemed duly sent and the Client does not have the right to refer to invalidity or change of such particulars if the Company has not been notified by the Client beforehand and contact information has been changed inappropriately.
3.5. Any correspondence and information (documents, announcements, notifications, confirmations, requests, reports, messages, etc.) shall be deemed received by the Client:
3.6. Correspondence and information sent by the Company to the particulars specified by the Client, namely to Client’s e-mail; specified fax; mail address; via internal mail of trading platform; or publication of the information on the official website of the Company shall be sufficient written notification.
3.7. The Client agrees that the Company has the right to delete messages that are not received by the Client via internal mail of client terminal after three calendar days from the date of sending of such messages.
3.8. The Client agrees that the Company has the right to keep record of oral and phone negotiations with the Client. Such records shall be Company’s property and can be published as evidence of requests and instructions issued by the Client, and other facts of interaction between the Company and the Client, furthermore, records are used for improvement of Client experience.
4. Rights and Liabilities of Parties
4.1. Client has a right:
4.2. Client guarantees that:
4.3. Client shall:
of trading transactions and management of trading account and its funds to any third parties.
4.4. Company has the right to:
4.5. Company shall:
5. Non-trading operations
5.1. In order to provide the possibility to perform trading transaction the Client shall on his own fund his trading account through the transfer of his own money to the Company’s accounts to the bank details, specified in the personal account. The account can also be credited using all other methods set forth on the official website of the Company and available to the Client from his/her personal account.
5.2. The Client acknowledges and agrees that the Company will not pay the Client any interest for money deposited on his/her trading account, unless otherwise provided by additional marketing activities and services as presented in the website of the Company.
5.3. Withdrawal of available funds from the trading account (excluding credit funds and not exceeding the account balance) can be done by the Client at any moment at his/her discretion, except in the cases specified in this Agreement and its appendices. Requests for withdrawals of available funds from trading accounts are processed on business days and may take between 24 to 72 hours, provided the following conditions are met:
5.4. Account funding as well as withdrawal of funds from the account can be made in USD, EUR and other currencies, list of which the Client can get in the Client Area and by contacting Customer Support Service.
5.5. When funding trading account with currency other than the currency of trading account, the credited money is converted into the currency at the internal exchange rate of the Company. Internal exchange rates of the Company are set at the discretion of the Company depending on market situation, market volatility and other external and internal factors, any references to exchange rates in other sources are unauthorized. Up-todate internal exchange rates of the Company are published in the Client Area.
5.6. Terms and procedure of funds transfer.
5.6.1. When making operation of funding account in the Company the sender’s data have to completely match with the Client’s data mentioned in the Client Area. In case of revealing the fact of funds transfer from third parties, the Company has the right, but is not obliged to:
5.6.2. Funds from the trading account should be withdrawn in the same way and in the same currency to the bank account or electronic payment system with which the deposit was made in a proportional amount. When withdrawing funds, the beneficiary’s data should exactly agree with the Client’s data in the Client area and completely match with the Client’s identity documents.
5.6.3. Depending on the deposit methods used by the Client, the Company has the right to:
5.7. Crediting of funds to the trading account of the Client shall be performed by the Company within one working day from the date of receipt of the money on Company’s accounts or from the date of receipt of order for money transfer between the accounts within the Company.
5.8. The Client can perform funds transfer from his/her trading account to another trading account that belongs to him/her within the Company. Company reserves the right to prohibit internal transfers between Client’s accounts at its sole discretion.
5.9. In case if trading accounts, between which funds are transferred, are handled in different currencies, then currency conversion during the transfer is performed at the internal exchange rates of the Company; information on the current state of such exchange rates is available on the official website of the Company and in the Customer Support Service.
5.10. Withdrawal of funds from the trading account that has open positions can be only performed within the limits of free margin on the account (excluding credit funds and not more than the account balance at the moment of order). If the amount of money withdrawn by the client (including fees, charges and other expenses) exceeds the amount of free margin of the trading account, then the Company reserves the right to decline such an order.
5.11. If Client has open positions involving the instruments on which trading sessions are closed by the moment of handling of the Instruction on withdrawal of money funds, the Company has the right to fully or partly reject such a withdrawal until required trading sessions are opened.
5.12. All withdrawal requests may be confirmed by dynamic password sent in SMS message to the phone number of the Client given in the Client Area. For safety reasons the Company manager has the right to contact the Client by given telephone number for verbal confirmation of withdrawal request.
5.13. All requests for funds withdrawals from the trading account of the Client shall be performed by the Company within the time, specified in the Regulations for non-trading operations.
5.14. All charges and fees connected to the transfer of money and calculations performed by the Parties are paid at the expense of the Client.
5.15. The Client agrees that in case of any failures of the software there may be delays of money crediting to the Client’s trading account. The Company can perform manual crediting of money to Client’s trading account in case of discovering of any failure of software that resulted in delays of automatic money crediting provided that the Client informed helpdesk stuff of the Company about such delay.
5.16. The Client transfers money to the trading account in order to deposit it or to maintain open position at his/her own discretion. The Company does not send any requests to the Client for maintenance of required margin level.
5.17. The Company reserves the right to set limits for minimum and maximum amounts of crediting and withdrawal operations for a period (per once, per day, per month, etc.) for each crediting/withdrawal method.
These restrictions shall be published in the Personal area.
5.18. In any cases when the Company has the right to get commission or other fees from the Client for the provided services in accordance with the terms of the present Agreement, as well as the cases when the Client shall indemnify any expenses incurred by the Company, corresponding amount will be deducted by the Company from the trading account of the Client without further authorization.
5.19. The Company is not obliged to disclose or provide information to the Client about fees or other remuneration, and other expenses incurred by the Company from the trading or non-trading transaction of the Client.
5.20. The Company has the right at its discretion and without giving reasons to refuse connecting or to disable promotions and services, to not credit or to deduct from the Client’s account the payments in full under the Company’s promotions and services (bonuses, rewards, prizes, etc.). In particular, if it’s revealed the Client has a trading strategy that is not economically reasonable without the promotions and services offered by the Company, including the Company’s partner program.
5.21. The Company has the right to fully deduct from the Client’s account the payments made under the Company’s promotions and services (bonuses, rewards, prizes, etc.) in case of funds withdrawal from the account by the Client, including funds transfer to another account.
5.22. The Company has the right to:
5.22.1. Block or permanently delete the Client’s account, on which there are no operations initiated by the Client for more than 30 (thirty) calendar days in a row from the moment of opening the account (deposits, withdrawals, trading operations).
5.22.2. Fully deduct from the Client’s account the payments made under the Company’s promotions and services (bonuses, rewards, prizes, etc.) in case there are no operations initiated by the Client for more than 30 (thirty) calendar days in a row (deposits, withdrawals, trading operations).
5.22.3. Charge a monthly commission in the amount of 1 USD or the equivalent in the account currency for maintaining the Client’s inactive account, on which there are no operations initiated by the Client for more than 90 (ninety) calendar days in a row (deposits, withdrawals, trading operations).
5.22.4. Block the Client’s account, on which there are no operations initiated by the Client for more than 270 (two hundred seventy) calendar days in a row (deposits, withdrawals, trading operations).
5.22.5. Permanently delete the Client’s account, on which there is not enough funds to pay commissions for maintenance of an inactive account.
6. Proof of Identity of the Client and Policy of Money Laundering Prevention
6.1. The “laundering proceeds of crime” (money laundering) in the context of this Agreement shall mean the action aimed at conversion of money and other tangible assets acquired from illegitimate activities (terrorism, drug dealing, illegal arms trade, corruption, human trafficking and others) into the money or investments, origin of which seems legitimate.
6.2. In order to prevent laundering proceeds of crime (money laundering) the Company reserves the right to apply means of internal control and programs for its implementation, and render assistance for international organizations for terrorism financing management.
6.2.1. The Company documents and checks identification data of the Client, and keeps and traces detailed reports on all the transactions performed by the Client.
6.2.2. The Company keeps track of all and any operations of the Clients that may have signs of illegal activity aimed at laundering proceeds of crime, and all operations that were performed under unusual conditions.
6.2.3. The Company does not accept cash as a deposit and does not pay cash under any circumstances.
6.2.4. The Company may refuse processing of operation at any point in case it has sufficient grounds to believe that such operation is somehow related to illegal activities.
6.3. The Client acknowledges that the identification data and information specified by him/her during trading account opening can be used by the Company under the program of prevention of money laundering.
6.4. According to international legislation the Company is not obliged to inform the Client about the fact that the corresponding body is notified about the Client’s suspicious activities.
6.5. The Client agrees that in case the Company has the reason to think that the trading account of the Client is used for money laundering, or that the owner of the account hides and provides misleading identification information and data, as well as in case there is a reason to believe that the transactions on the trading account of the Client have been performed with violation of the present Agreement, the Company reserves the right to suspend all operations on the Client’s trading account in order to conduct all necessary checks (registration data check, identification of the Client, checking of history of non-trading operations and transferring of funds, etc.) until complete explanation of circumstances.
6.6. To comply with recommendations on anti-money laundering, during registration of a trading account by Client and any trading and non-trading transactions, Company has the right to require that submission by Client of two identity and registration proof documents. Moreover, the Company has the right to require Client to submit following documents:
– Photo ID (photo of the Client holding identification document);
– Photocopy of the front of the card used for account funding or that will be used for withdrawals;
– Bank statement clearly indicating the holder of bank card used for account funding or that will be used for withdrawals;
– Photo of the Client on the background of the opened account of electronic payment system;
– Photocopy of any other identification document;
– Photocopy of utility bill issued within the last 3 months;
– Notarized copy of any document mentioned above, contact details of a public notary;
– Other required documents.
Above-mentioned documents are provided in the form of an electronic copy either a notarized copy required by at the discretion of Company.
6.7. It is preferable to provide documents of international sample in English. If documents are provided not in English, the Company has the right to request translation. The documents should be translated in English, printed and signed by a professional translator and provided to the Company with copies of original documents.
6.8. The Client should provide documents requested by the Company within fifteen working days of receipt of the relevant request, as well as meet the following requirements:
– Photos must be of high quality, color, clear and focused;
– The document text must be easily legible, there should be no shadows and highlights that can complicate the information perception;
– the requested document on the image should be presented in full, including lamination corners or edges, as well as the back side (if it contains your data and not empty);
– Graphic editors cannot be used to correct and process images;
– Photo ID (your photo with an identity document you hold) clearly shows your face and it takes up at least 30% of the photo area;
– Proof of address (utilities bill, bank statement, etc.) must be no more than three months old.
Photos taken before the request or sent not from the Client’s e-mail may be rejected by the Company.
6.9. The Company has the right to suspend non-trading operations on the Client’s account including withdrawal operations until the receipt of the documents requested for the purpose of Client identification.
6.10. In case of failure to submit the documents within the 15 calendar days from the moment of request, Company has the right to suspend all trading and non-trading transactions on the Client’s account, unilaterally close all open positions at the current market prices and freeze all the assets on the trading account of the Client.
6.11. In case of failure to provide documents within 30 calendar days from the moment of request, this Agreement is considered terminated and the Company has the right to close opened trades of the Client at current market price, block access to the Client Area, block funds, cancel operations and trades on the accounts of the Client and archive account irreversibly.
6.12. The Client is responsible for the authenticity of the submitted documents (its copies) and recognizes the right of the Company, in the event of doubt as to their authenticity, contact the low enforcement authorities of the country of the document issuer to verify the authenticity of the documents. Upon detection of forgery fact or editing of the identification image in graphical editor this Agreement is considered terminated, and the Company reserves the right to attract the Client to account in accordance with the laws of the country of issuer.
When the Agreement is terminated in accordance with this paragraph, the Company has the right to close opened positions of the Client at current market price, block access to the Client Area, block funds, cancel operations and trades on the Client’s accounts and archive the accounts irreversibly.
7. Confidentiality
7.1. All information submitted by the Client when opening the account and in the course of further interrelations with the Company, as well as information about credentials, provided to the Client for operation, is completely confidential, unless in this Agreement and its Annexes indicated otherwise, and each Party is responsible for confidentiality and use of such information.
7.2. In the event of the Client making a claim against the Company via publicly available resources, the Company reserves the right to disclose obtained information about the Client to fully and objectively review the situation.
8. Responsibilities of the Parties
8.1. Responsibility of the Company:
8.1.1. In case of violation by the Company of terms hereunder due to circumstances the Company is responsible for which resulted in actual damage to the Client, the Client has the right to claim indemnification of actual damage.
8.1.2. The Company does not recompense short-received profit of the Client including the cases, when the Client had an intention to perform some action but did not perform it due to some reason. The Company does not indemnify any indirect losses and moral damage.
8.2. Responsibility of the Client.
8.2.1. The Client assumes total responsibility for all the actions performed by the Client in accordance with the present Agreement.
8.2.2. The Client shall bear sole responsibility for any actions resulting from the use of access codes of Client’s trading account.
8.2.3. In case of violation by the Client of the terms hereunder, responsibility for which is not provided herein, as well as in case of any damage made by the Client to the Company, the Company has the right to write off without further authorization from the Client’s account the amount of money sufficient for indemnification of the damage, and in case of insufficiency of the amount of money on the Client’s accounts for indemnification of the damage made, demand lacking money to be credited by the Client to his/her account for indemnification of the damage.
8.2.4. The request of the Company for the crediting of lacking money for full indemnification of damage shall be satisfied by the Client within 10 (ten) working days.
8.3. Violation of the provisions of the present Agreement by the Client committed within validity term of the Agreement shall be accepted by the Company for settlement irrespective of the prescription of its commitment, and for that reason the Company has the right to make claims to the Client within any timeframe.
8.4. The Client accepts and agrees to bear the full risk associated with the termination or suspension of any of electronic payment systems used by the Client. In such cases, the Company has the right to block the withdrawal of funds from the Client’s trading account, to the extent in which this payment system was used to deposit funds within the last six months. The time of blocking of funds is limited to six months or terminates automatically after the resuming of work of the electronic payment system.
8.5. The Parties assume responsibilities in accordance with the present Agreement and other applicable regulation for failure to fulfill and/or for default in performance of the obligation under this Agreement.
9. Force-Majeure
9.1. The Parties shall not be held liable for failure to fulfill and/or for default in performance of the terms and conditions hereunder if such failure and/or default resulted from force-majeure circumstances; that is, such circumstances that the Parties were not able to reasonably prevent or foresee. Such circumstances include, but not limited to: earthquakes, floods, tsunami, other acts of God, industrial disasters, epidemics and epizootics, terrorist acts, riots, acts and actions of governmental authorities, embargoes, wars and military conflicts, or other circumstances occurring against the will of the Parties and usually referred to as force majeure.
9.2. Circumstances that eliminate liability (force-majeure circumstances), in accordance with this
Agreement, also include illegal actions against the Company, its employees and/or property, including hacker attacks and other illegitimate actions in regards to Company’s servers.
9.3. In accordance with the present Agreement force-majeure circumstances also include suspending of operation, liquidation or shutting down of some market, or absence of some event, on which the Company bases quotes, or implementation of limitations or special and unusual trading conditions in any market or in respect to any such event.
9.4. In case of occurrence of circumstances eliminating liabilities (force-majeure) the Company has the right to perform any or several following actions without prior notification of the Client:
9.5. The Party, for which failure to fulfill or default in performance of the terms hereunder was caused by force- majeure circumstances, shall inform the other Party about such circumstances within thirty calendar days from the date of the occurrence thereof.
9.6. The Party that fails to inform the contractor about the occurrence of such force-majeure circumstances does not have the right to refer to such circumstances as force-majeure.
10. Procedure of Dispute Settlement
10.1. Possible disputes and contradictions that arise from the execution of the present Agreement subject to settlement through the negotiations between the Parties.
10.2. In case of any dispute the Client who considers his/her interests to be violated, shall submit a claim to the Company.
10.3 Conditions for admissibility of claims:
10.3.1. The Client must provide valid identification details to verify their identity and eligibility to file a claim;
10.3.2. A claim must be submitted within a reasonable timeframe from the occurrence of the incident, issue giving rise to the claim, as prescribed below, unless longer terms are prescribed by the applicable law:
10.3.2.1. The claim, submission of which is based on the relation of the Parties in regards to performance of trading transactions in exchange markets, shall be submitted by the Client within three working days from the date of appearance of ground for submission of such claim;
10.3.2.2. The claim, submission of which is connected with performance of non-trading operations and other reasons, shall be submitted by the Client within 5 (five) working days from the date of occurrence of the grounds for submission of such claim.
In case of failure to submit a claim by the Client within the timeframe set forth above or prescribed by the applicable law (whichever is bigger) it shall be deemed a confirmation of the Client’s agreement with Company’s actions and absence of any disputes and controversies. If the Client submits a claim beyond the timeframe set forth above, the Company is entitled, but not obliged to, to reject its handling based on inadmissibility of the claim;
10.3.3 The Client must contain all relevant details, including a clear description of the issue, supporting evidence, as prescribed in paragraphs 10.6, 10.7 below;
10.3.4. Claims must not contain any abusive language;
10.3.5. Claims must be submitted via the channels set forth in clause 10.5;
10.3.6. Claims must be submitted in English.
The Company acknowledges a receipt of a claim and informs the Client about whether the claim is admissible within 1 day after its receipt.
10.4. Where a claim does not fulfill the conditions of admissibility, the Company will provide the Client with a clear explanation of the reasons for rejecting the claim as inadmissible.
10.5. The claim shall be executed by the Client in the form of e-mail and/or via ticket system in the personal account, and sent to the official electronic addresses published on the official website of the Company. Claims submitted in other form (at public Internet resources, by phone, by fax or in any other way), shall not be considered.
10.6. The claim must have following content:
10.7. The claim submitted on the ground of trading transactions in exchange markets shall include the following:
10.8. The claim shall not contain:
10.9. The Company is entitled to decline a claim of the Client for the inadmissibility reasons as set forth above in paragraph 10.3, as well as if the order under question was performed at the expense of the Company or profit mainly generated with the help of the Company's funds.
10.10. The Company considers a claim and makes a decision regarding disputable situation within the shortest possible timeframe. In case of availability of all data required for claim consideration term of its consideration shall be:
10.10.1. for the claims based on the trading transactions in exchange markets – ten working days from the receipt.
10.10.2. In exceptional situations, the decision on a claim cannot be provided within the timeline referred to above, the Company will inform the Client about the reasons for that delay and specify the date (or preliminary date) of the decision.
The Company’s support team members have got proper skills, knowledge and expertise necessary for the professional claims handling.
The Company is committed to efficiently processing and resolving all Clients claims. The Company’s team members prioritize addressing claims in a timely and equitable manner while maintaining integrity and objectivity.
10.11. In case if the Company has to request additional data and/or documents from the Client for the purpose of consideration of a claim, the beginning date of claim consideration shall be the date of receipt of all requested data and/or documents by the Company from the Client.
10.12. Log file of the server shall be the main source of information during settlement of disputes regarding trading transactions of the Client in exchange markets. Information contained in log file of server supersedes any other arguments during settlement of dispute, including information contained in the log file of client terminal.
10.13. In case the claim is considered to be reasonable settlement shall be performed in the form of compensatory payment credited to the Client’s trading account. The Company does not indemnify short-received profit of the Client including the cases, when the Client intended to take some action, but failed to do so due to some reason. The Company does not indemnify any indirect, special, punitive, exemplary or consequential losses, and moral damage, arising under or in connection with the Agreement (even if such losses were foreseeable and regardless of whether a party has been advised of the possibility of such losses).
10.14. In case of making a decision in favor of the Client on the disputable situation the Company shall credit compensatory payment to the trading account of the Client within one working day.
10.15. Peculiarities, specific conditions and possible ways of settlement of disputes regarding trading transactions performed by the Client are described in more details in respective sections of Regulations for performance of trading transactions, which is the Appendix to the present Agreement.
10.16. In case any dispute occurs that is not described herein and in appendixes hereto final decision on such claim shall be made by the Company based on common market practice, internal policy of the Company and Company’s vision of fair settlement of dispute. The Company can also use quotes from any other market maker for the comparative analysis of the quotes.
10.17. In case of failure to come to an agreement in the course of negotiations and/or disagreement of the Client with the decision made by the Company, the disputes subject to submission for consideration in the court of competent jurisdiction in accordance with the established provision of law.
11. Applicable Law and Jurisdiction
11.1. The present Agreement is executed and applied in accordance with legal regulations of the Company’s country of incorporation. In case of any issues that are not provided for in this Agreement the Parties shall be guided by the applicable legal regulations of Company’s country of incorporation.
11.2. All disputes and controversies that cannot be settled through the negotiations between the Parties subject to submission to the court of competent jurisdiction of Company’s country of incorporation.
11.3. The Parties agree:
12. Amendment and Termination of the Agreement
12.1. The present Agreement between the Company and the Client becomes effective from the date of opening Personal Area by the Client in the Company and shall remain effective within the uncertain term.
12.2. The Company has the right to unilaterally change and add this Agreement with the necessary notification of the Client about it. Any changes and additions hereto shall become effective on the following calendar day after notification the Client about it, unless otherwise is set forth within the content of such changes and additions or within the content of the notice thereof. Conduction of any trade or non-trading operation by the Client means unconditional acceptance of this Agreement by the Client.
12.3. Each Party has the right to refuse unilaterally performance of the present Agreement with the notification of other Party not less than fifteen calendar days prior to the supposed date.
12.4. In case of breach by the Client of terms of the present Agreement, and in cases set forth by legislation rules, the Company has the right to immediately and unilaterally terminate this Agreement. In this case, if the Client has some open positions at the moment of termination of the Agreement, the Company has the right to close such positions at current market price. Company shall recover the funds remaining on Client’s account to Client or his/her duly authorized representative, but these funds shall not exceed net receipt of funds (the amount of all deposit with deduction of all withdrawals) on accounts of Client. Upon that, Company shall debit remains of funds on Client’s account and won’t recover these funds further.
12.5. The Client agrees that the Company has the right at its own discretion to suspend or deny fully or partially Client’s access to Company’s services with further notification of the Client about it. In this case effect of this Agreement shall be deemed suspended or it shall be deemed terminated from the moment of such suspending and/or cessation of service rendering for the Client.
12.6. The Company has the right without Client’s consent to transfer rights and obligations hereunder and under appendixes hereto fully or partially to a third party provided that such legal successor agrees with the terms and conditions of this Agreement and appendixes hereto. The Client shall be notified by the Company in writing about such transfer of rights and obligations not less than fifteen calendar days before such transfer.
12.7. In case of cessation by the Company of performance regulated by this Agreement the Company shall inform the Client about such cessation not later than one month before. All money on the trading account of the Client shall be returned to him/her after closing of all open positions.
12.8. In case of Client’s death (an individual) the right to request money withdrawal from the trading account of the Client shall transfer to the successors of corresponding priority or heir by will. In this case the right to use trading account of the Client and the right to perform trading transactions in exchange markets is not inherited.
12.9. Cessation of the present Agreement does not cancel obligations of the Parties before each other that occurred earlier out of this Agreement including any obligations regarding open positions, transactions for withdrawal/crediting of money to the trading account of the Client.
12.10. In the event that any provisions of this Agreement shall be determined null and void by a court of competent jurisdiction, this provision is to be regarded as an independent part of this Agreement, and will not affect legal effect of other parts of this Agreement.
13. Appendixes and Information about the Company
13.1. The addendum listed below shall be the integral part of the present Agreement:
13.2. Information published on the official website of the Company shall also be the integral part of thisAgreement.
14.Transaction Request Thresholds in Customer Contract
14.1. If the number of requests sent by the customer to the server exceeds 1,000 transactions within a 300-second timeframe, the trading account will automatically switch to "read-only" mode.
14.2. If the number of requests sent by the customer to the server exceeds 10,000 transactions within a 3,600-second timeframe, in that case, the trading account will be blocked.
15. Use of Robots with API Integrations and Connectivity
15.1. Acceptance of Policy Regarding Unacceptable Trading Practices
Client acknowledges and agrees to abide by the Brokerage's policy regarding unacceptable trading practices, including but not limited to actions against side markets of feed price and high-frequency trading ("Unacceptable Practices"). Client understands that engaging in Unacceptable Practices is strictly prohibited and may result in termination of their account with the Brokerage.
15.2. Documentation and Reason of Trade
In accordance with the Brokerage's policy, Clients utilizing Robots for trading purposes are required to provide additional documentation and reasons for trades executed through API integrations and connectivity. Client agrees to furnish all necessary documentation and explanations as requested by the Brokerage to justify trades made through Robots.
15.3. Termination of Account
The Brokerage reserves the right to terminate Client's account without prior notice in the event of:
15.4. Acceptance
Client acknowledges that they have read, understood, and agreed to the terms and conditions set forth in this Agreement, including the policies regarding Unacceptable Practices and documentation requirements for trades made through Robots.
15.5. Investigation, Anti-Toxic Volume Measures, and Termination Clause
16. Hedging Policy: Guidelines and Prohibitions
In adherence to the Otet Group Ltd Client Agreement, our hedging policy is established to provide clear directives and prohibitions regarding hedging activities within our trading environment. Hedging, the practice of maintaining both long and short positions on the same financial instrument concurrently, is permitted as a trading strategy for clients. This approach offers investors flexibility in managing their investment portfolios and mitigating market risks effectively. However, it is imperative for clients to recognize that hedging with the intent of exploiting price discrepancies or engaging in spread arbitrage is strictly forbidden within our trading ecosystem. Any attempt to do so undermines market integrity and may lead to the immediate closure of the client's account.
Moreover, clients are explicitly advised against participating in hedging activities across multiple Otet Group Ltd accounts or with other similar evaluation firms. Group hedging, the practice of executing opposing trades on the same asset across multiple accounts simultaneously, is expressly prohibited within our trading environment. While this tactic may seek to capitalize on price fluctuations while minimizing market risk, it conflicts with our commitment to fair and transparent trading practices. Therefore, clients are urged to comply with these guidelines to uphold a level playing field for all participants and preserve the integrity of our trading ecosystem.
In accordance with the Otet Group Ltd Client Agreement, adherence to the established hedging policy is essential for maintaining a fair and transparent trading environment. Any violations of these guidelines will be subject to stringent disciplinary actions, including the potential closure of the client's account. We encourage all clients to familiarize themselves with our hedging policy and adhere to its provisions to ensure compliance with regulatory standards and uphold the integrity of our trading platform.
17. Prohibition of Latency Trading in Otet Group Ltd Client Agreement
The Otet Group Ltd Client Agreement unequivocally prohibits latency trading, an act that exploits delays in trade execution to gain unfair advantages in the market. Recognizing that such practices undermine the fundamental principles of fair and transparent trading, Otet Group Ltd strictly prohibits any activities associated with latency trading within its trading environment. This includes trading on delayed charts and the utilization of delayed data feeds, which provide traders with an unfair advantage over others. By engaging in latency trading, traders create artificial buying or selling pressure, distorting market prices and disrupting the natural balance of supply and demand.
Otet Group Ltd is steadfast in its commitment to maintaining a level playing field for all traders and upholding the integrity of financial markets. Any violation of the prohibition on latency trading outlined in the Client Agreement will be met with stringent disciplinary measures. These measures may include account termination and legal action to ensure compliance and preserve market fairness. Through these actions, Otet Group Ltd reaffirms its dedication to transparency, fairness, and trustworthiness in the financial markets.
Furthermore, Otet Group Ltd continually monitors trading activities to detect and prevent any attempts at latency trading, market abuse, market manipulation, use of insider information fraud, criminal activities or other illegal activities or other unfair practices, as well as use the same IP address for different trading accounts. Our dedicated team of compliance professionals employs advanced monitoring tools, controls and surveillance techniques to ensure that all trading activities adhere to the highest standards of integrity and compliance. Additionally, we provide ongoing education and training to our clients to raise awareness about the risks associated with latency trading and the importance of ethical trading practices. By fostering a culture of compliance and ethical conduct, Otet Group Ltd aims to promote a fair and transparent trading environment where all participants can trade with confidence and trust in the integrity of the market.
Any joint trades on a single symbol or multiple symbols, whether executed in the same direction or in opposite directions, by a single user or multiple users, whether a bonus is involved or not, will be considered a violation of the identification conditions. Such trades, even if executed with a time difference, may be recognized as coordinated activity. The broker reserves the right to take corrective actions, including but not limited to the removal of bonus credits, profits earned, and restriction of related trading privileges.
The identification of user behavior and determination of violations must be conducted by the broker. This means that the broker, based on its evidence and analysis of customer behavior, will determine whether the user has engaged in such activities, including cases involving the use of multiple identity verifications.
By participating in the bonus program, the client acknowledges and agrees to all terms and conditions related to the bonus, as outlined in the Bonus Terms and Conditions Document with the document number:
Otet-Bonus VD 10025-69.
These rules govern the relationship between Otet Group Ltd as a broker and its users as recipients of trading services, ensuring compliance with the regulations set forth by our licensing authorities. To maintain integrity and adherence to regulatory standards, Otet Group Ltd strictly prohibits any actions that fall into the following categories:
Violations of Licensing Regulations – Any procedures or activities that breach the regulatory requirements set by our licensing authorities.
Violations of Financial Market Rules – Any actions that contradict financial market laws, policies, or ethical trading practices.
Abuse of Broker Services – Any attempts to exploit the broker through technical manipulation or coordinated group transactions aimed at unfair advantages.
Otet Group Ltd reserves the right to take appropriate action in response to any violation of these rules, including but not limited to account restrictions, termination, or the withdrawal of profits obtained through unfair or non-compliant trading activities. In such cases, the withdrawal of any profits generated through unfair or non-compliant trading will not be allowed.
All users participating in Otet Group Ltd’s incentive plans must comply with both the general trading rules and the specific terms of each plan.
Key Conditions:
Plan-Specific Requirements & Restrictions – Each incentive plan may include certain eligibility criteria, restrictions, or obligations that must be followed during its activation period.
Binding Acceptance – By participating in a plan, the user automatically agrees to all terms and conditions outlined in that specific plan.
Broker’s Authority – Otet Group Ltd has sole discretion over the implementation, interpretation, and enforcement of the plan’s terms.
Failure to comply with these rules may result in termination of participation in the incentive plan or additional corrective actions.
Bonus Terms and Conditions Document as: Otet-Bonus VD 10025-69
Users can participate in Otet Group Ltd’s incentive plans based on the conditions outlined in each plan. To retain the bonus until the withdrawal stage, users must:
Cooperate with the authentication section for verification.
Fully comply with both:
as mentioned on client agreement for clauses:
The bonus amount and its allocation depend on the specific plan’s conditions. Otet Group Ltd reserves the right to determine the bonus structure and distribution at its sole discretion.
A user's trading volume may be considered a violation of general trading rules if it closely mirrors another user's trades in the same or opposite direction within a short timeframe. Trades and Positions in incentive plans are subject to heightened monitoring.
The duration of the bonus is specified in the plan’s conditions and may be adjusted slightly due to holidays or group elimination hours.
All General Trading Rules and Specific Incentive Plan Rules apply. Any coordinated trading activities (whether in the same or opposite direction) that are intended to exploit the bonus system may be classified as abuse. In such cases, the broker reserves the right to take corrective actions.
Bonuses are non-withdrawable and are intended only for trading support.
Any profits generated from the bonus, however, can be withdrawn under standard withdrawal policies.
The broker may withdraw or cancel bonuses if a user violates any rules. Bonus removal may occur at any time, regardless of market conditions or account status.
The broker reserves the right to suspend a user’s bonus if:
Suspicious activity is detected.
The user is deemed a potential risk to the broker.
Past violations suggest a risk of abuse.
The broker is not required to disclose the exact reasons for suspension as part of its risk management measures.
In the event of a dispute regarding bonuses, the broker’s decision will be final and binding.
Users may contact customer support for clarification, but the broker maintains sole authority over the final resolution.
As a bonus, Otet Group:
1. Otet Group Ltd., a company duly incorporated in Saint Lucia, registration No. 2023-00595, being a brokerage company,
2. Otet Group LTD, a company duly incorporated in the Comoros Union (Mwali), registration No. HY00523012, holding a valid Brokerage License,
(hereinafter referred to as “we”, “our”, “us”) could provide clients with a free of charge access to trading strategies of experienced traders (“Masters”) for copy-trading purposes.
Clients should be aware that we do not provide advisory services and recommendations, intermediary services in advising services, and are not responsible for the actions or strategies, systems of Masters .
Copy-Trading
1) Copy-trading is an approach that enables clients to take decisions to replicate the trading actions of selected Masters’s strategies, by opening and closing positions by clients themselves, when using their trading accounts opened with us.
2) When copy-trading, each client makes a decision which position to open and which not, as well as when to close it.
3) Masters do not receive access to clients’ trading accounts.
4) Our cooperation with clients is founded on mutual trust. The use of copy trading information for purposes other than those directly connected to our brokerage and ancillary services is strictly prohibited. Additionally, clients are expressly prohibited from sharing copy trading information, in any format, with third parties.
Liability for Profit and Loss
1) Clients are solely responsible for their trading decisions and should conduct their own analysis before following any Masters strategies.
2) Clients should carefully assess their financial situation and risk tolerance before engaging in copy trading.
3) CLIENTS SHOULD CAREFULLY CONSIDER WHETHER SUCH MASTERS’ STRATEGIES AND SYSTEMS ARE SUITABLE FOR THEM IN LIGHT OF THEIR INVESTMENT OBJECTIVES, FINANCIAL CIRCUMSTANCES, TOLERANCE TO RISKS AND INVESTMENT EXPERIENCE.
4) Providing access to any Masters’ strategies, systems does not constitute an endorsement or validation of their methods or performance, but rather being a bonus provided to clients.
5) All trading decisions are treated exclusively by clients' decisions. We shall not bear the responsibility for the losses that could occur.
6) EACH CLIENT SHOULD BE CAPABLE OF BEARING A SEVERE OR FULL LOSS OF THE AMOUNTS INVESTED IN TRADING AS A RESULT OF OR IN CONNECTION WITH USE OF MASTERS’ STRATEGIES.
7) Copy trading does not guarantee any profitability.
Trading Limitations
1) For the purpose of checking, whether Masters’ strategies are suitable individually for a client, it is advisable to copy trade initially for small amounts.
2) It is recommended that clients allocate no more than 10% of their total capital to any single trading strategy, given the inherent risks of the markets.
3) Clients are responsible for regularly monitoring their accounts and the performance of the strategies they choose to follow.
4) If a client feels uncomfortable with any Master’s strategy, it is recommended to skip using it.
5) It is recommended for clients to additionally learn at least basic trading educational materials to understand the risks, techniques, strategies associated with trading.
Risk Acknowledgment
1) Please refer to the Risk Disclosure Statement, Fraud Warning, other documents at our website.
2) Please be aware that the financial and other markets can be highly volatile, therefore, past performance of a Master does not guarantee future results.
3) Engaging in copy trading activities may result in significant financial losses, including the loss of principal.
4) Access to Masters’ strategies does not assure any level of profitability.
5) It is recommended for each client to monitor ongoing available risks and to focus on them when feeling uncomfortable.
Client Decision
1) It is a complete decision and responsibility of each client to determine the risk-reward ratio, risk appetite.
Technical and Software Issues
1) We are also not liable for any losses resulting from technical, software issues, system failures, when clients engage in copy-trading.
Transactions with Third-Party Accounts
1) Clients must use their own accounts for trading activities.
2) Clients are deprived to provide access to their trading accounts to the Masters, their representatives, other third parties.
3) Clients shall avoid being engaged in fraudulent activities, scams, Client Agreement violation, market abuse and other violating activities and tradings, which are associated with the use of Masters’ strategies.The client will also be responsible for any potential losses resulting from these violations suffered by us.
Acceptance
1) By accessing and using Masters’ strategies, clients acknowledge that they have read, understood, and agreed to these terms and conditions.
2) Trading in financial and other markets involves significant risk, therefore it is possible to lose more than a client’s initial investment. Each client shall be sure that he/she/it fully understands the risks involved and seek independent advice if necessary.
Available Funds Withdrawals
1) Clients must be aware that, according to the Client Agreement, the requests for available funds (profit and principal) withdrawals from trading accounts are processed on business days and may take between 24 to 72 hours, provided the following conditions are met:
• The Client has submitted all required KYC items correctly;
• The trading account has not engaged in any illegal or unauthorized trading activity;
• The KYC department has revalidated the Client's identity. This may require the Client to provide additional documentation as required by the AML procedures and processes.
1.2 "Account" means an account (not demo account) opened for a Client referred by the Partner to any of the Companies.
1.3 “Active Client” means a Qualified Client from the Partner’s group who/which makes at least one transaction that meets the requirements of the Partner’s Commission payment, over the last 30 days.
1.4 “Members Area” means the Partner's page on the Company's Website.
1.5 “Multi-Level Partner Commission System” means a system in which the Partner is paid a Commission for the referred Client and Sub-Partners.
1.6 “Partner” means an individual or a legal entity referring new Clients to any of the Companies.
1.7 “Partner’s Group” means the Master Partner with all the Sub-Partners referred by the Master Partner and their Sub-Partners.
1.8 “Partner’s Commission” or “Commission” means a commission paid by the Company to the Partner for the referred Qualified Clients under this Agreement.
1.9 “Qualified Client” means an Active Client, which is not blocked, suspended due to fraud, or any suspicious activity, or another reason at the Company’s discretion, who/which opened Account with the Company, passed the Company's KYC. A Client shall not be treated as Qualified Client any more when the Company, based on the grounds set forth in Otet Terms and Conditions, restricts/blocks providing services to such Client, wholly or in part.
1.10 “Referral Link” means a link to the Company’s Website, which contains the Partner’s ID and is placed by the Partner to refer Clients. A static link should be in the HTML code of the Website and have the class="Agent ID" attribute. Links generated on the Website dynamically with the help of JavaScript, Flash, or similar technologies do not meet the definition of a static link.
1.11 “Sub-Partner” means a Partner who/which is registered within the Company and listed in the MasterPartner’s group.
1.12 “Website” means www.otetmarkets.com.
2.1 Under this Agreement, the Partner intends to refer potential Clients to the Company for the purpose of offering the Company’s services, in accordance with the terms and conditions outlined herein.
2.2 The Company will handle all contractual arrangements directly with the Clients.
2.3 The relationship between the Partner and the Company is non-exclusive.
2.4 The Parties may collect, store and handle any information about referred Clients.
2.5 The Parties agree that none of Parties are responsible, and cannot be held liable for any other business or activity carried out by the other Party, other than those relations set forth in this Agreement.
2.6 The Parties shall act according to their knowledge in executing their obligations and always to the best interest of the other Parties and Clients.
3.1 The Company, at its sole discretion, opens Accounts to the Clients referred by the Partner, provided they meet the criteria and suitability standards, implemented by the Company’s internal rules.
3.2 The Company agrees to accept instructions and orders from the Clients and send the statements of accounts to the Clients referred by the Partner, in line with Otet Terms and Conditions.
3.3 If require by the AML/CFT regulation or internal policies and procedures, the Company reserves the right to ask the Partner to provide reliable, complete, up-to-date and accurate information, documents of the Partner, Clients.
3.4 The Company provides services to the Clients referred by the Partner, in line with Otet Terms and
Conditions.
3.5 The Company is entitled to instruct and control the Partner's activity and approach when implementing the Partner’s functions and responsibilities under this Agreement. The Company provides the Partner with the Referral Link. The Company provides the Partner with a unique identification code (ID) to register Clients referred by the Partner.
3.6 The Company is entitled to request a comprehensive report detailing the Partner’s performance under this Agreement, including the progress and outcomes of the information provided by the Partner to potential Clients.
3.7 The Company is entitled to change unilaterally the type and the amount of the partnership program and the Partner’s Commission in case the Partner fails to fulfill the terms and conditions of this Agreement.
3.8 The Company provides a non-exclusive, non-transferable, non-sublicensable, royalty-free license to the Partner to use the Company's trading software, forms, literature, newsletters, market reports, and any other informational material (“Intellectual Property”) the Company provides, solely in connection with the exercise and performance of each Partner’s rights and obligations under this Agreement. The Partner shall make any express or implied statement, or suggestion, or use the Company’s Intellectual Property in any manner that dilutes, tarnishes, degrades, disparages or otherwise reflects adversely on the Company, its Intellectual Property, or its business, products or services.
3.9 The Company is entitled to amend, alter the terms and conditions of this Agreement. The Company is entitled to change the Partner’s Commission, if the market or other conditions change. The notice about this will be sent to the Partner via internal messages, email, posting, or as an announcement on the Website, at least three business days prior to the amendments, alterations taking effect.
3.10 The Company, at its sole discretion, may require the Partner to immediately amend or remove any marketing materials and other information posted on the Partner's website, platforms, in social media etc., if such information is found to be incorrect, misleading, or harmful to the Company's reputation, business interests, or regulatory compliance.
3.11 Should any Partner’s actions be harmful to the Company's interests, or might have a negative influence on the Company's reputation or operations, or raise concerns regarding the Partner's work ethics, the Company reserves the right to unilaterally terminate this Agreement with an immediate effect.
3.12 The Partner acknowledges and agrees that the Company is entitled to monitor and review all content posted by the Partner on its website, platforms, in social media etc. The Partner shall promptly comply with any requests from the Company to correct or remove non-compliant content and shall indemnify and hold the Company, its affiliates, personnel, owners, agents, consultants, designated representatives, harmless from any losses, damages, or liabilities arising from non-compliant content. The Partner understands that the failure to comply with these obligations may result in the termination of the Agreement with it/him/her.
3.13 Should the Company reveal that the Partner breaches the instructions and requests of the Company, the Company may, at its sole discretion, restrict the payout of the Partner’s Commission and/or terminate this Agreement with an immediate effect, as well as, in case if the Company considers it reasonable, to close all or part of the Clients’ positions, referred by the Partner, if applicable. The Partner acknowledges and agrees that the Company shall not be liable for any losses or damages arising from such closure.
3.14 The Company reserves the right to terminate this Agreement with any Partner unilaterally with a onemonth’s early termination notice.
3.15 The Company is entitled, in the event it reveals or suspect any abuse in the trading activity of a referred Client or the Partner, to take any action it deems fit to remedy the situation, including but not limited to, relations termination with such Client of the Partner.
4.1 The Partner is fully responsible for compliance with legal regulations in their activity and also shall follow all the terms and conditions of this Agreement, as well as the instructions of the Company.
4.2 The Partner shall provide advice, adequate professional help in order to assist in negotiations with referred Clients.
4.3 The Partner, in line with the Company’s instructions, informs referred 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 of the Company. The Parties shall keep each other informed at all times of all strategies, developments and discussions relevant to this Agreement.
4.4 The Partner, in line with the Company’s instructions, provides introductory explanations to the referred new Clients on how the Company’s services, Website, software, external interface (if any) work.
4.5 The Partner shall immediately inform the Company of any circumstances that may affect or prevent them from fulfilling their obligations under this Agreement or that may pose any risks to the Company or Clients.
4.6 When performing the undertakings under this Agreement, the Partner shall follow the law’s requirements of the country of their registration or residency, as well as of the country where their activities are carried out for attracting potential Clients to be referred to the Company.
4.7 Upon the Company's request, the Partner shall provide a detailed report about fulfilment of its/his/her obligations under this Agreement and the progress and outcomes of its/his/her activities in referring Clients to the Company.
4.8 The Partner shall make reasonable effort to uphold the highest ethical and commercial standards. The Partner shall not allocate the Company’s information in Partner’s website, platforms, social media etc. using, or together with any obscene, libelous, defamatory, illegal, or otherwise offensive material or in any context that harms the goodwill or reputation of the Company or that disparages or brings the Company into disrepute.
4.9 The Partner shall keep all the information regarding the Company and its services posted on its websites, platforms, social media etc. accurate and up to date. If the Company determines that any information on the Partner's websites, platforms, social media etc. is inaccurate or outdated, it may request the Partner to remove or update the content. The Partner must comply with such a request within 2 days of receiving a request from the Company.
4.10 The Partner is deprived to use the Website design and any of its elements, including but not limited to, the Company’s logo, full or partial elements of the Website, without the Company’s.
4.11 The Partner is not authorized to act as an agent, official distributor, designated representative, or perform any other authority in the name or on behalf of the Company. For the avoidance of any doubt, the Partner will not make any recommendation, give advice, accept any commitment or provide warranties, or accept any responsibility on any matter whatsoever for or on behalf of the Company.
4.12 The Partner undertakes not to engage in any activity falling under the illegal financial operations and money laundering, as well as take any actions to preclude any illegal financial operations and money laundering.
4.13 The Partner procures that during the validity period of this Agreement, 2 months before and 2 years after its validity term, Partner shall not advertise the Clients’ direct competitors.
4.14 The Partner shall not interfere with the services provided by the Company to Clients referred under this Agreement.
4.15 The Partner is deprived to take decisions about any services provided by the Company to Clients referred under this Agreement, without the other Party’s consent.
5.1 Referring Clients, which meet the Company’s qualifications and suitability requirements, to the Company.
5.2 Deliver to a Client, and obtain from a Client, and deliver to the Company all documentation and information including, but without limitation, the Client Account Opening Package, notices, and notifications.
5.3 Obtain and verify a Client’s information including, but not limitation, Client details, information of its/his/her reputation, its financial capacity, and trading objectives.
5.4 Fairly and accurately share with a Client the Company’s business description and profile, according to the Company’s instructions.
5.5 Maintain high ethical standard in business practices, and conduct operations in a manner that positively reflects on the Company.
5.6 Comply with any business-related instruction, terms, or requests, the Company provides to the Partner.
5.7 Keep records of all the referred Clients, legal documents, due diligence, KYC reports, or any other information that may arise during business with the Company.
5.8 Authorize the Company to inspect or conduct any due diligence it may require occasionally, without any limitation or means of investigation.
5.9 Notify the Company, orally and in writing, of any Client complaints or pending or threatened action
raised against the Company in connection with any alleged errors, technical glitch, corrections, or any other matter related to a Client’s Account.
6.1 If necessary, the referred Client may choose leave its/his/her current Partner group and move own profile and trading Account(s) to another Partner group. The Company shall not interfere in the Client's decision.
6.2 To transfer the profile and trading Account(s) to another Partner group, the referred Client shall submit a request to [email protected] or [email protected]. The request shall include the trading Account(s) numbers, if applicable, as well as the new Partner's ID and the Partner’s account number.
6.3 The Company reserves the right to resolve disputes between the referred Client and the Partner (s).
7.1 The Partner’s Commission shall be calculated once a day, only from completed transactions performed by the Partner's referred Qualified Clients. For the purposes of billing and payment, the Company makes calculations based on the all the numbers of referred Qualified Clients and volumes of completed transactions by them.
7.2 The Partner’s Commission depends on the type and level of the Affiliate Program and is calculated as a percentage of the Company’s revenue earned from transactions of referred Qualified Clients. The Partner’s Commission rates are individual and agreed with the Company.
7.3 The Company is entitled to unilaterally amend the calculation method and amounts, rates of the Partner’s Commission, depending on market and other conditions change.
7.4 In case of increased costs due to hedging the trades of a Client or group of Clients referred by the Partner, the Company is entitled to reduce the size of Commission payments for such referred Qualified Clients.
7.5 In the event of a dispute related to a transaction for which a Commission has been paid, the Company reserves the right to revoke the Commission accrual for such transaction.
7.6 It is the sole responsibility of each Party to determine whether, and to what extent, any taxes apply to any transactions associated with this Agreement and to withhold, collect, report and remit the amounts of taxes to the appropriate tax authorities. The Company does not perform the functions of tax agents in respect of the payments paid to the Partner.
7.7 For the Commission receipt the Partner’s account is opened by the Company. When processing a withdrawal request from the Partner’s account, the Company uses its internal currency rates as of the time of the request processing.
7.8 The withdrawal and transfer of funds from the Partner’s account are available only after the complete identification and verification of the Partner. After the Partner is completely fully verified, its/his/her 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/.
7.9 After assessment and verification of the Partner, the Commission Table becomes available to the accepted Partner, and becomes visible at the Partner’s Members Area.
7.10 The Company and the Partner agree that the Commission will be accrued based on the Commission Table made available to the Partner by the Company.
7.11 In the Basic campaign, when the Partner has a minimum number of Clients, namely, one Client, the Partner must have a minimum balance defined by the Company in the Parner’s account and also a minimum of one trade with any lot size and a duration of at least 120 seconds.
7.12 In case of inactivity for two months, the Partner will be downgraded to a lower campaign.
7.13 In case the Client is unable to follow the requirements of a proper campaign for two months,it/she/he would be downgraded to a lower campaign.
7.14 The Partner who/which has passed complete identification and verification shall be entitled to withdraw funds in any payment system available in the "Withdrawal" section of its/his/her Members Area.
7.15 The Partner is charged for all costs associated with withdrawing funds from the Partner’s account unless the withdrawal is made on specific days when the Company can allow free withdrawals with some limitations.
7.16 The Partner bears full responsibility for the completeness, adequacy of all the information in its/her/his instruction/application for the funds withdrawal.
7.17 The withdrawal of funds from the Partner’s account is processed within two business days from when a relevant instruction/application for the withdrawal of such funds has been confirmed in the Members Area.
7.18 If the payment system is temporarily unavailable, the Company has the right to postpone the date of withdrawal until the payment system is restored.
7.19 The Partner shall allocate a portion of its/his/her Commission to the Accounts of the specific Clients the Partner has referred, in accordance with the terms of the "Rebates to client" conditions.
7.20 The Partner shall allocate a portion of its/his/her Commission to the Accounts of the specific Clients referred by their Sub-Partner referred, in accordance with the terms of "Rebates to Sub-Partner" conditions and the Multi-Level Partner Commission System.
7.21 The Partner cannot refer himself/herself/itself to the referred Clients, nor can it/she/he refer relatives or other affiliated parties to the referred Clients.
7.22 The Company reserves the right to reject the Commission payment, if it reasonably believes that:
7.23 The Company reserves the right to update, cancel the amount of the Commission, or terminate the
Agreement with the Partner, if the Company considers, that the significant portion of the Partner’s payment is derived from trading on one account, as well as the total amount of the Partner’s Commission from the trading account exceeds 60% (sixty percent) of total net deposits for that specific account.
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 by negotiations.
8.2 Prior to submitting any action to the court, the Parties shall undertake to follow the pre-litigation procedure and try to settle a dispute in an amicable way. The requesting Party shall submit the request/complaint within five days of becoming aware, or when it should have reasonably become aware, that its rights were violated.
8.3 In case of violation of the terms and conditions of Agreement, namely, non-performance or improper performance, the guilty Party shall be liable under this Agreement and current legislation, as well as shall compensate the damages suffered by the other Party.
8.4 Under no circumstances shall either Party be liable to the other Party or to any third parties for any indirect, incidental, unintentional damages, including lost profits or lost data, damage to honor, dignity or business reputation caused by the violation of the terms and conditions of the Agreement.
8.5 All requests/complaints shall be sent via the following means: email to the address [email protected], ticket in their Members Area (https://my.otetmarkets.com/helpdesk/create-aticket).
8.6 The Partner’s request/complaint shall be reviewed within a maximum ten business days.
8.7 Should the dispute be not settled in an amicable way, it could be submitted to the proper court.
8.8 The Partner acknowledges and agrees that the relations between the Parties are governed by this Agreement. The Partner further recognizes and agrees that any features or functions not expressly detailed in the Agreement and Members Area, shall not form a ground for a claim or cause of action against the Company.
9.1 The Partner that refers another Partner to its/her/his group, becomes a Master-Partner, while a referred Partner becomes its/her/his Sub-Partner.
9.2 The Partner can be at both levels of the program, acting as both the Master-Partner and the Sub- Partner simultaneously:
9.3 Both the Master Partner and the Sub-Partner are considered bound by the terms and conditions of this Agreement from the moment they become/accept the Partner role. The Company shall not be liable for any agreements, other arrangements by and between the Master Partner and the Sub-Partner.
9.4 The Master Partner receives the Partner’s Commission from the transactions of the referred Qualified Clients and Sub-Partners, and the Sub-Partner’s Commission - from the transactions of the Qualified Clients referred by their Sub-Partners. The Company covers fully the Master Partners’ and Sub-Partners’ commission.
9.5 The size, portion of the Master Partner’s and Sub-Partner’s Commission falls under the Partners’ Compensation Schedule approved with the Company.
9.6 The Partner needs at least one active referred Qualified Client to be eligible for rebate the Compensation, unless otherwise defined by the Company.
10.1 In case of force-majeure circumstances (blockade, government restrictions, exchange or market rules material change, suspension, market disbursement, war, civil disturbances, earthquakes, strikes, equipment failure, communication line failure, program breakdown, unauthorized access, theft, or any problem, technical or otherwise, or other events or conditions beyond the Parties’ control etc.) which prevent the complete or partial fulfillment by any of Parties of the obligations under this Agreement, the term stipulated for the fulfillment of the obligations shall be extended for a period equal to that during which such circumstances and their consequences will last.
10.2 It is agreed that in case of force-majeure circumstances, the suffering Party will not be held liable for any costs, damages, or losses caused by force majeure events, including but not limited to.
10.3 If the above circumstances or its consequences last more than 3 months, either Party shall have the right to terminate Agreement without compensation for any possible losses and with mutual payment in accordance with Agreement.
10.4 The Party, for which it becomes impossible to meet its obligations under this Agreement, shall inform within 7 days the other Party of the beginning of the circumstances preventing the fulfillment of the Agreement. Certificates issued by the Chamber of Commerce shall be sufficient proof of such circumstances and their duration.
11.1 This Agreement shall enter into force on the date when the terms and conditions of this Agreement are accepted by the Partner, when proper actions are performed by the Partner indicating the Partners consent and desire to perform a Partner’s role, and shall valid for unlimited period, until determined by either Party by giving to the others a 1-month’s prior termination notice.
11.2 In the event of termination of this Agreement for any reason, the Partner shall promptly destroy all of the information and materials the Partner 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 The Partner acknowledges and confirms that it has read and understood the terms and conditions of this Agreement and agreed on them.
11.4 Waiver. Any failure on our part to enforce the Party’s rights and remedies under this Agreement shall not constitute a waiver of such right or remedy.
11.5 Confidentiality. The Partner agrees to maintain the confidentiality of all Confidential Information received during the course of its business relationship with the Company, both during and after the relationship. The Confidential Information shall cover any information disclosed by the Company to the Partner and unknown to the public (irrespective of its source or form of communication), as well as information of Clients referred by the Company which is treated the Confidential Information owned by the Company. Confidential Information includes technical, business, operational, legal, marketing, financial, corporate, and any other information that cannot be seen publicly and cannot be obtained by third parties legally from other sources. By default, all the information shared by the Company is treated Confidential Information, given its nature and character, unless otherwise is defined by this Agreement, the Company or by the law. Confidential information is related to the previous, current, future and proposed business, services of the Company, and its suppliers and clients, and includes, but not limited to, personal data, information concerning development, design details, specifications, vendors / client lists, systemized gathered information for analysis, analysis results, business forecasts, sales, business results, marketing plans and any other similar information or data which is disclosed, business analysis information, proprietary techniques, trade secrets, copyrights, trade secrets, proprietary information, sketches, drawings, models, know-how, ideas, processes, algorithms, software programs, their parts, software source documents, pricing or proposal information. Confidential Information also includes proprietary or confidential information of any third party that may disclose such information to the
Partner. The Partner will not disclose such information to any third party without the prior written consent of the Company. This clause remains valid upon this Agreement termination.
11.6 Severability. Any provision under this Agreement that becomes invalid shall be ineffective to the extent of such invalidity without affecting the remaining terms and conditions.
11.7 Assignment. The Company may assign the rights or delegate the obligations under this Agreement to another Company or to a third-party with written notice to the Partner within 30 days of such assignment. The Partner grants us the right to transfer this Agreement to any successor legal entity. The Partner cannot assign any of its rights or obligation under this Agreement to any third party.
11.8 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 and conditions of the Agreement.
11.9 Entire Agreement. This Agreement and other contractual arrangements between the Company and the Partner (Commission Table, contractual arrangement set forth in the Members Area) constitute the entire agreement between the Parties. The Companies have made no representations or warranties other than those expressly provided within this Agreement.
Conflicts of Interest Policy (the “Policy”)
The scope of the Policy is to ensure that the Company complies with all legislative requirements and the internal procedures , and to take all reasonable steps to identify and manage any conflicts of interest that may arise between us and any of our clients or between our clients.
The Company has established, implemented and maintains this Policy which outlines the description of identification, prevention, management and disclosure of the conflicts of interest related to the Company, its shareholders, members of control, as well as managers and employees, tied agents, designated individuals or other relevant persons (each - the “Relevant person”), as well as any person directly or indirectly linked to them by control (each - “Linked person”), as well as the Company’s clients, that arise in the course of providing any services.
The Policy is developed and implemented proper conflict of interest processes within Otet Group, namely, 1) Otet Group Ltd., a company duly incorporated in Saint Lucia, registration No. 2023-00595, being a brokerage company, 2) Otet Group LTD, a company duly incorporated in the Comoros Union (Mwali), registration No. HY00523012, holding a valid Brokerage License No. T2023304 issued by M.I.S.A. (each above and hereinafter referred to as the “Company” or “we” or “our” or “us”). Conflicts of interests may include any situation where either the Company or an individual is in a position to exploit a professional or official capacity in some way for either corporate or personal benefit.
Situations where conflicts of interest can occur include the following:
The following measures have been adopted by the Company for ensuring the requisite degree of independence
The Company has constructed adequate Ethical Walls, in accordance with the legal requirements between its departments and has established clear lines of responsibility, in order to avoid the flow of information held by a Relevant person in the course of carrying out a part of its business to be withheld from or used by Relevant persons who are in the process of carrying out another part of its business, as well as Linked persons. In particular, barriers have been established in order the flow of information is restricted between Relevant persons, access has been limited in relation to information and documentation and communication has been restricted between certain Relevant persons during the course of carrying out their parts of business.
When the measures taken by the Company to manage conflicts of interest are not sufficient to ensure, with reasonable confidence, that the risk of damage to clients’ interests will be prevented, the Company will disclose the conflicts of interest to the clients in order to prevent a risk of damage to clients’ interests. Prior to carrying out a transaction or providing an investment or an ancillary service to a client, the Company must disclose any actual or potential conflict of interest. The disclosure will be in sufficient time, in a durable means.
In the case of identification of a possible conflict of interest, a Relevant person must refer it initially to his immediate supervisor to assist in the assessment of a material risk of damage and send a completed Notification Form together with full details to allow regulatory scrutiny, of:
The Company procures confidential reporting channels for Relevant persons, Linked persons to disclose conflicts of interest.
The Company maintains up-to-date records, which are regularly monitored and updated, of all situations giving rise to actual and potential conflicts of interests, and of the measures taken to mitigate such conflicts in the relevant situations. . Any conflict of interest shall be reported to the Company’s CEO and Compliance Officer, who shall be responsible for keeping records of conflicts of interest.
From time to time, the Policy could be reviewed and updated by us. The review includes an assessment of Policy's effectiveness in preventing and managing conflicts of interest, and any necessary changes are properly made to the Policy to ensure that it continues to meet the needs of clients, Relevant persons.
The Cookies Policy is developed and implemented within Otet Group, namely, 1) Otet Group Ltd., a company duly incorporated in Saint Lucia, registration No. 2023-00595, being a brokerage company, 2) Otet Group LTD, a company duly incorporated in the Comoros Union (Mwali), registration No. HY00523012, holding a valid Brokerage License No. T2023304 issued by M.I.S.A. Ltd. (each hereinafter referred to as the “Company” or “we” or “our” or “us”). Both Companies use cookies on this website. By using our website, you consent to the use of cookies.
Please review our Privacy Policy for additional information on how we process personal data collected from our website visitors and users.
What are cookies?
Cookies are small pieces of text placed on your device when visiting the website, that allow us to track, save, and remember information about your activity on and use of our website. They are information, not programs, thus they cannot contain viruses. They allow us or a third party to recognise you, make your next visit easier and our Services more useful to you, as well as to improve the performance of our website and to collect statistical data.
We have a legitimate interest in carrying out these actions, and we promise that there will be no impact on your privacy. You have the right to withdraw permission or adjust your choices at any time.
How the Company uses cookies
We use both ‘session’ and ‘persistent’ cookies to run our Services. ‘Session’ cookies stay on your device until you stop browsing. ‘Persistent’ cookies stay until they expire or are deleted.
Cookies help us to enable functionality for the provision, protection, and enhancement of our Services, to record your browsing activity, to determine when you are logged in, to keep your data and account safe and secure, to enable adverts and behavioral advertising, to provide mailings, analytics, and research, to monitor statistics data, to retain your preferences and information about your actions, allowing us to improve your usability and to provide you with the best possible experience on our website.
The types of cookies used are as follows:
Strictly Necessary Cookies: These cookies are essential, as they enable you to move around our Services and use their features, such as accessing logged in or secure areas.
Essential cookies: These cookies allow us to authenticate users and prevent fraudulent use of user accounts.
Performance Cookies: These cookies collect information about how you have used the Services. They may also be used to show you have logged in so we can serve you fresher content, or to track aggregate Services usage so we can test new features and changes on the Services. These cookies are often used for load balancing to ensure that the website remains up and running and to improve Services performance.
Functionality Cookies: These cookies allow us to remember your actions, for example how and when you logged in and out; if you choose to block advertisements; the history of Services tools you’ve used. They also allow us to tailor the Services to provide enhanced features and content for you, and to remember how you customised the Services.
Targeting Cookies: These cookies are used to deliver content that is more relevant to you and your interests. This information may be shared with organizations to deliver advertising and help measure the effectiveness of an advertising campaign, or with other business partners to provide aggregate usage statistics and Services testing.
Third-party cookies: Third party cookies report usage statistics of the Services, or deliver advertisements on and through the Services. Please note that some are essential to our platforms and as blocking them would severely damage performance, no option to opt out is provided.
Choice of Cookies
When you visit our website, you will be prompted to accept/enable or refuse/disable the additional cookies. If you disable the additional cookies, we will continue to use the required cookies to run the website.
To customize your use of our website and enjoy maximum functionality from our Services, we recommend that you accept all of our cookies. Please keep in mind that if you choose to disable cookies, our website will be unable to remember your visit and provide you with the level of convenience that we would want.
Should you have any questions regarding this Cookies Policy, please contact us at: [email protected]
Your Trusted Partner in Financial Market Solutions
Otet Group LTD, is a regulated company duly incorporated in the Comoros Union (Mwali), having met all the statutory requirements for incorporation and ongoing operations under the International Business Companies Act, with the company’s registration No. HY00523012, which holds a valid Brokerage License No. T2023304 issued by M.I.S.A.
Otet Group Ltd., registered under Registration Number 2023-00595 in Saint Lucia, is a financial brokerage company listed in the Registry of International Business Companies (IBC) under the jurisdiction of Saint Lucia. The company’s registered address in Saint Lucia is: Top Floor Rodney Court Building Rodney Bay Gros-Islet Saint Lucia. The postal code for Rodney Bay, Gros-Islet, Saint Lucia is: LC01 401. Additionally, the company’s registered office address is No. 5, Becicka Plaza, Becici, Budva, Montenegro.
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.
Otet Group Ltd (Saint Lucia) is additionally registered as Money Service Business with the US FinCen (MSB Reg. No. 31000278731653), reflecting our strong commitment to complying with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations* . Please be advised that Otet Group Ltd does not provide services or open accounts for U.S. citizens*.
Otet Group LTD has only one official website. All news and information will be shared through this website and emails that come from this website’s domain. If you see other websites or emails claiming to be from Otet Group LTD, they are not real. We are not responsible for anything outside of our official website.
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Otet Group LTD, all right reserved 2024
