A. Introduction and scope of agreement

1. Depending on the jurisdiction to which a client's account has been attached in accordance with the account opening procedures of the website, the terms 'the Company' and 'Binary.com' shall denote either Binary (V) Ltd, Binary (SVG) Ltd, Binary (BVI) Ltd, Binary (FX) Ltd, Binary (Europe) Ltd, ou Binary Investments (Europe) Ltd.
2. The client understands that products based on a random number generator (the "Volatility Indices") are gaming products whereas products based on financial market indices (forex, indices, and commodities) are Financial Instruments.
3. All products traded on Margin carry a high degree of risk and can result in losses that exceed the client's initial deposit. The Margin trading services described in this agreement are not suitable for everyone. The client acknowledges that the Margin trading services described in this agreement are designed for the clients who are knowledgeable and experienced in the types of Transactions described in this agreement, and the client fully understands the associated risks before entering into this agreement with the Company.
4. The client should not sign up to receive the Margin trading services described in this agreement without understanding their nature and the associated risks.
5. This agreement is supplied to the client in English. In the event that there is a difference between the English version and any translated versions of this document, the English version shall prevail.
6. A glossary of the capitalised terms can be found in paragraph R, entitled "Interpretation of terms".

B. Commencement

1. This agreement will commence on the date that the client receives their MT5 Real Account number and, for any new versions thereafter, on the date the new versions are published on the Company's website.

C. Provision of services

1. The Company mainly provides contracts for difference (CFDs).
2. Under no circumstances shall the Company provide investment advice or recommendation to the client or state an opinion in relation to a Transaction. From time to time, the Company may decide to provide the client with written information, which the Company may publish on its website or provide to the client in any other manner. The Company will endeavour to ensure the accuracy and completeness of this written information, but it will not constitute investment advice or recommendation provided by the Company to the client.
3. The provision of the Margin trading services described in this agreement utilises a third-party system, acquired via a non-exclusive, non-transferable, non-sublicensable, and terminable licence from the third-party system provider/licensor (the "MT5 trading platform"). The client acknowledges that the Company reserves the right to change the third-party system provider/licensor during the course of providing the Margin trading services described in this agreement to the client.
4. Binary.com shall act purely on an execution-only basis.
5. Binary.com agira également parfois en qualité de mandant et à d'autres moments en qualité de mandataire pour le compte du client pour toutes les Transactions conclues par le client, selon la société auprès de laquelle le client a ouvert son compte.
6. The Company will hold the client responsible for all their obligations under this agreement in the Company's course of providing the Margin trading services that are described in this agreement to the client even if the client notifies the Company that they are acting as the agent of an identified principal.

D. Account management

1. Opening an account
   1. To open an MT5 Real Account for Financial Instruments, the client must have an authenticated Binary.com account. If the client opens an MT5 Real Account with Binary (Europe) Ltd, they will be able to trade only Volatility contracts for difference. An MT5 Real Account cannot be opened in the absence of a Binary.com account.
   2. By opening an MT5 Real Account with Binary.com, the client represents, warrants, and undertakes the following:
      1. The client is acting for their sole benefit, and not for or on behalf of any other person.
      2. The client has read this Legal terms and conditions page in full and has understood that they will be buying and selling financial contracts subject to these terms and conditions.
      3. The client has read the Company's privacy statement and hereby gives the Company consent to process the client's personal information as outlined there.
      4. The client is over 18 years of age, unless they are an Estonian resident whereby they will have to be over 21.
      5. The client is not residing in a restricted country such as Hong Kong, Israel, Jersey, Malaysia, Malta, Paraguay, United Arab Emirates, the USA, Canada, or any other restricted country which has been identified by the FATF as having strategic deficiencies.
      6. The client has sufficient experience and knowledge about contracts for difference to be capable of evaluating the merits and risks of acquiring contracts via this site and have done so without relying on any information contained in this site.
   3. The Company reserves the right to refuse the client's request to open an MT5 Real Account for any reason, and any MT5 Real Account may be closed at the Company's discretion at any time.
2. Assessment of appropriateness
   1. In the course of providing services, the Company may, where applicable, conduct an appropriateness test, in accordance with the Company's regulatory obligations, in order to determine whether the client, in the Company's view and on the basis of the information provided by the client, possesses the necessary knowledge and experience in the investment field to understand the risks involved in the specific type of product or service offered or demanded.
   2. If the Company considers, on the basis of the information provided by the client, that the client does not possess the knowledge and experience to appreciate the risks associated with an investment in the proposed instrument, the Company will issue a warning to the client. Such a warning shall be displayed on the website.
   3. In accordance with applicable regulatory requirements, if the Company does not manage to obtain sufficient information to assess the appropriateness of the product or service for the client, the Company will similarly inform the client that Binary.com is not in a position to assess appropriateness.
3. Fund transfers
   1. Approvisionnement du Compte Réel MT5
      1. The client's MT5 Real Account shall be funded by transferring funds from their Binary.com account, subject to the availability and sufficiency of funds in their Binary.com account and any daily transfer limits. No fund transfers shall be made to any other account in the name of any third party.
      2. All fund transfers from the client's Binary.com account to their MT5 Real Account must be made by the client.
      3. There will be no charges for fund transfers from the client's Binary.com account to their MT5 Real Account in the same currency. Should the client's Binary.com account and MT5 Real Account be in different currencies, the Company reserves the right to charge a currency conversion fee.
   2. Withdrawal of funds from MT5 Real Account
      1. Subject to the availability and sufficiency of funds in their MT5 Real Account and any daily transfer limits, the client may withdraw funds from their MT5 Real Account to their Binary.com account.
      2. The Company may, however, withhold the client's withdrawal request from their MT5 Real Account to their Binary.com account, in whole or in part, in one or more of the following cases:
         1. The client has unrealised losses on their MT5 Real Account.
         2. Such a withdrawal would result in the client's Account Equity being less than zero.
         3. The Company reasonably considers that funds may be required to meet any Margin Requirement.
         4. There is an amount outstanding from the client to the Company.
         5. The Company is required to do so in accordance with any relevant law or regulation.
      3. Withdrawal of funds from the client's MT5 Real Account can be made in a different currency from the one maintained in the client's Binary.com account subject to a currency transfer fee charge.
4. Comptes avec solde débiteur (c.-à-d. exposition au risque de crédit de Binary.com)
   1. The Company does not offer any credit facilities or arrangement to its clients in normal trading circumstances. The client acknowledges and agrees that they will not be dealing with the Company on credit, regardless of the amount of the client's Account Balance and Transactions entered into with the Company.
   2. Accounts with debit balances are required to settle the full amount immediately by making a payment to Binary.com.
   3. If the client fails to immediately make a full settlement of the sum due to the Company in accordance with this agreement, the Company reserves the right to accrue interest on the sums due from the client to the Company in respect of any Transaction that the Company fails to pay on the relevant due date. Interest will accrue on a daily basis from the relevant due date until the date on which payment is received in full at the bank's official base rate for short term funds determined by the Company and will be payable on demand.
5. Self-exclusion limits
   1. When a self-exclusion limit is set on the client's Binary.com account, the client's MT5 Real Account will be disabled until the self-exclusion limit on their Binary.com account is removed.
   2. Due to the responsibilities under responsible gaming, the Company reserves the right to assess and safeguard the client's account by setting limits to the client's activity as deemed proportionate and necessary for their protection.
   3. In relation to 5.2, the Company also reserves the right to exclude the client definitely or indefinitely, based on the Company's client assessment.
6. Inactive/dormant accounts
   1. The Company reserves the right to charge a dormant fee of up to USD/EUR/AUD/GBP 25 every six months for every client account that has had no Transaction recorded for a period of 12 consecutive months or more.
   2. The Company reserves the right to charge a dormant fee of up to USD/EUR/GBP 25 every six months for every client account that has had no Transaction recorded for over 12 months. clients will be notified before the fee is deducted from the account. clients need to contact the Company's helpdesk to recover funds from inactive, closed, blocked, or excluded accounts.
7. Sécurité du compte
   1. By adhering to the following measures, the Company is committed to making sure that the client's personal data and Transactions are secure:
      1. The client's MT5 Real Account password and login ID are unique, and passwords are hashed so that not even Binary.com staff can read them. This is the reason why the Company cannot retrieve the client's password and has to send a link for setting a new password to the client's email if they cannot recall their password.
      2. It is the client's responsibility to keep their password and login ID confidential. The client agrees not to disclose their password and login ID to any other person.
      3. Toutes les informations relatives aux cartes bancaires sont directement transmises au réseau Visa/MasterCard par le biais de la dernière technologie de cryptage SSL, conformément aux politiques des banques.
      4. The Company's information security policies are based on industry best practices in access control and business continuity.
      5. The Company uses identity verification services and real-time fraud detection measures to help protect the client from unauthorised access to their account. The Company also monitors account activity for signs of unusual activity that might indicate fraud and works with collection agencies and law-enforcement agencies to address fraud issues.
      6. The Company will rely on the Transactions and other instructions entered into and/or given by the client's username and password, and the client is bound by any Transaction or expense incurred in reliance on such Orders and/or instructions.
      7. The client is to immediately notify the Company if they become aware of the loss, theft, or disclosure to third parties of their login details.
      8. If the Company believes that unauthorised persons are using an account, it reserves the right to suspend the client's right to use the trading facility without prior notice.
8. Closing an account
   1. If The client wishes to withdraw funds from their MT5 Real Account and close their MT5 Real Account, they may notify the Company by contacting Binary.com helpdesk support@binary.com. The client's MT5 Real Account may be closed if they do not have any Open Positions and all the amounts that were due to the Company have been settled.
   2. If The client's Binary.com account is closed, their MT5 Real Account will be automatically closed as well.

E. Orders

1. Order execution/cancellation/modification
   1. The client acknowledges that it is their responsibility to understand the features, characteristics, terms, and conditions of an Order and the implications of executing an Order before they place an Order with the Company.
   2. Subject to network latency, the Company endeavours to execute the client's Order within a reasonable time from the time that they trigger the Order, at the price nearest to the client's specified price. The Company does not guarantee that a Transaction will be opened/closed following an Order being triggered by the client at their specified price. This can happen under certain trading conditions when there are sharp price movements in the market. In that case, the Company has the right to execute the Order at the first available price.
   3. The Company endeavours to open or close the Transaction to which the client's Order relates at a price reasonably available to the Company, acting in accordance with the Company's duty of best execution. Best execution means that, when executing Orders, the Company must take all sufficient steps to obtain the best possible result for the client, taking into account the price, costs, speed, likelihood of execution and settlement, size, nature, or any other consideration relevant to the execution of the Order.
   4. The Company Prices are determined by reference to the price of the Underlying Instrument which is quoted on external exchanges or dealing facilities that Binary.com selects at the Company's discretion. The Company's IT infrastructure and price aggregator system facilitates the reception of quotes from shortlisted prime brokers, who act as liquidity providers for the Company and the delivery of the quotes, derived with reference against relevant benchmark and markets, to the client. The client acknowledges that the Company Prices may differ from the Bid and Ask Prices made available by external exchanges or dealing facilities and the Company is not liable for any losses that the client might incur arising from such differences. This clause does not apply to Volatility Indices.

Types of Orders

1. Market Orders

   A Market Order is an Order to buy or sell at the available market price, which results from the aggregation of prices and volumes received from third-party LPs.

2. Pending Orders

   A Pending Order is the trader's instruction to a brokerage company to buy or sell a security in future, under pre-defined conditions, when price reaches a specific level.

   1. The Company may, at its absolute discretion, accept a Stop Order, a Limit Order, or a Stop Limit Order from the client.
   2. The client may specify their instruction of a Stop Order or apply for a Limit Order for a limited duration or for an indefinite period (a "good till cancelled" or "GTC" Order).
   3. In the case of a Stop Order, the client acknowledges that the Company will endeavour to fill the order at a price equal to the one that the client has specified. However, if the specified price is unavailable, a less favourable price may be quoted. In other words, the Order is executed either at the price equal to the specified one or worse than that (slippage). The execution of Stop Orders is guaranteed.
   4. In the case of a Limit Order, the client acknowledges that the Company will endeavour to fill the Order at a level that is the same or better than the Limit the client has specified, subject to the availability of the Limit Price.
   5. The client may specify their instruction of a Stop Order or apply for a Limit Order for a limited duration or for an indefinite period (a "good till cancelled" or "GTC" Order).
      1. In the case of a Stop Order, the client acknowledges that the Company will endeavour to fill the Order at a price equal to the one that the client has specified. However, if the specified price is unavailable, a less favourable price may be quoted. In other words, the Order is executed either at the price equal to the specified one or worse than that (slippage). The execution of Stop Orders is guaranteed.
      2. In the case of a Limit Order, the client acknowledges that the Company will endeavour to fill the Order at a level that is the same or better than the Limit the client has specified, subject to the availability of the Limit Price.
   6. Stop Limit Orders are a combination of Stop and Limit Orders. If the price reaches (or passes) the Stop Price, a Limit Order is placed at the specified price, which will be filled at a price equal or better than the specified price.
   7. A Take Profit Order is intended for gaining profit when the Financial Instrument price has reached a certain level. Execution of this Order results in the complete closing of the whole position. It is always connected to an Open Position or a Pending Order.
   8. A Stop Loss Order is intended for minimising losses when the Financial Instrument price moves in an unprofitable direction. The execution of this Order results in the complete closing of the whole position. It is always connected to an Open Position or a Pending Order.
   9. The client may not cancel or amend the level of their Stop and Limit Order once the level has been reached.
   10. The client acknowledges that it is their responsibility to cancel the Stop or Limit Order if they do not want the Stop or Limit Order to remain valid. If the client fails to cancel the Stop or Limit Order, the Company shall be entitled, at its absolute discretion, to treat the Stop or Limit Order as an instruction to enter into a new Transaction for the client if and when the Company quote reaches or goes beyond the level of the Stop or Limit Order.
   11. The client acknowledges that the Company reserves the right to establish a minimum and maximum Transaction size, as well as a total net position size, which may be subject to alteration, and that the Company will only execute Orders that fall within the range of the minimum and maximum Transaction sizes.
   12. The Company may, at its absolute discretion, disregard the client's Order if an Event takes place resulting in it no longer being practicable to act on the client's Order after indicating an acceptance of their Order.

F. Margin and Leverage

1. General provisions

   The Margin used in Margin calculations will be whichever is bigger: the Margin implied by the account's Leverage or the symbol's Margin. The account has a specific Margin, but symbol's Margin may vary.

   1. Prior to placing an Order, which results in opening a position, the client acknowledges that it is their responsibility to ensure that their Account Free Margin is sufficient to cover the Margin required in relation to the opening of the position (the "Margin Requirement"), and to continuously meet the Margin Requirement.
   2. To maintain Open Positions, the client is required to have sufficient Account Equity to cover any Margin Requirement. If a client's Margin Level is less than the Margin Level set for their account, the client has entered into a Margin Call and is required to increase their Margin Level above the account's specified level in order to avoid a Stop Out to occur. The client may not be able to place an Order to open a Transaction unless there is sufficient Account Equity to cover the Total Margin.
   3. The client acknowledges that it is their responsibility to monitor their Account Balance and Margin Requirement, and the Company is not under any obligation to keep the client informed (i.e. to make a Margin Call).
2. Margin Requirement and calculation
   1. Margin Requirement is the amount that the client needs to have in their account prior to entering into a trade and it is a percentage of the value of that trade. Margin Requirement will continue to increase/decrease in accordance with the volume and direction of the Open Positions.
   2. The Company may modify Margin Requirements for any Open Positions or new Orders at its sole discretion. Formulas for Margin Requirements published on the website are indicative only and may be changed by the Company at its discretion at any time, due to changing market conditions or other factors.
   3. Whilst the Company endeavours to close out the client's Open Positions if and when the Margin Level for their MT5 Real Account reaches or falls below the Stop Out Level, the company does not guarantee that the client's Open Positions will be closed when the Margin Level for their MT5 Real Account reaches the Stop Out Level.
   4. For fully covered accounts, no Margin will be charged on open positions. However, swaps and other applicable fees can cause the client's Account Equity to turn negative. In that case, the Stop Out process will be triggered.
   5. The Company reserves the right to charge the Margin per each hedged lot of a position.

3. Niveau Stop Out
   1. If the Margin Level for the client's MT5 Real Account reaches or falls below the Stop Out Level, this will be classified as an Event of Default. In such circumstances, Open Positions are automatically closed in the following order: (i) the server analyses those Orders that are not under execution at the moment; (ii) the server deletes Orders with the largest Margin; (iii) if the client's Margin Level is still under the Stop Out Level, the next Order is deleted (Orders without Margin Requirements are not deleted); (iv) if the client's Margin Level is still under the Stop Out Level, the server closes a position with the largest loss; (v) Open Positions are closed until the client's Margin Level becomes higher than the Stop Out Level. Additionally, for fully hedged positions, Stop Out will be performed on accounts having open positions, zero Margin (positions are covered), and negative equity.
   2. The default Stop Out Level applicable to the client's account is published on the Company website. However, the default Stop Out Level is subject to alteration at the Company's absolute discretion. Any changes to the Stop Out Level will take effect immediately. The Company will endeavour to notify the client of an alteration to the default Stop Out Level by publishing the revised default Stop Out Level on the Company website. It is the client's responsibility to check the Company website regularly and remain informed about the default Stop Out Level.
   3. The Stop Out Level applicable to the client's MT5 Real Account may differ from the default Stop Out Level published on the Company website.
4. Protection de Solde Négatif

   The Company has a Stop Out policy which prevents the client from losing more than they have deposited. However, in the event that the client's Open Positions are not closed when the Margin Level for their MT5 Real Account reaches the Stop Out Level, the Company, at its sole discretion, may waive the client's negative balance by crediting their account if their Account Balance goes into a negative balance. The negative balance is determined by aggregating all the negative balances incurred over a 24-hour period across all accounts held by the client. The client acknowledges that, unless they are a retail customer of Binary Investments (Europe) Ltd, the offer of the Negative Balance protection by the Company to the client is at the Company's sole discretion and the Company reserves the right to change the features and eligibility criteria of the Negative Balance Protection at any time. The provisions of the Negative Balance Protection do not apply in the following situations:

   1. When a force majeure event occurs
   2. When the market conditions or market movements/volatility are abnormal
   3. When the client opens any Transactions in relation to Prohibited Trades
   4. When the client is a Professional client
   5. Where the negative balance is connected to or a result of functional limitations and/or malfunction of the MT5 trading platform
   6. When a negative balance results from the breach of any of the terms of this agreement by the client

5. Transfer of funds
   1. The client may make Margin Payments by transferring funds from their Binary.com account to their MT5 Real Account. In the event that there are insufficient funds in the client's Binary.com account to fund their MT5 Real Account, they may make Margin Payments by funding their Binary.com account and transferring the funds from their Binary.com account to their MT5 Real Account.
   2. Margin Payments are due immediately and shall be received in full by the Company.

G. Regulatory provisions

1. Potential conflicts of interest
   1. The Margin trading services described in this agreement are conducted over the counter ("OTC").
   2. The client acknowledges that the Company will determine, at its discretion, the Transactions that will be kept in the Company's own book (known as B booking) and the Transactions that will be passed through to the prime brokers who act as liquidity providers for the Company (known as A booking). For the former, the Company is the counterparty in these Transactions, and a correlation exists between the profit/loss made by the client and the profit/loss made by the Company. At any point in time, the Company may be entering into or may have entered into Transactions with a large number of clients, each of whose interests may diverge from those of other clients. As such, the Company may be holding Open Positions that may not be aligned with the client's objectives/interests as an individual client of the Company.
   3. Whilst the Company endeavours to take all reasonable and sufficient steps, as required by applicable laws and regulations, to identify potential conflicts of interests between the Company and its clients, or between one client and another, that arise in the course of providing the Margin trading services as described in this agreement by establishing and implementing policies and procedures, it is possible that the Company may execute certain Orders which may have other direct or indirect material interests.
   4. Given the Company's role as a Margin trading service provider as described in this agreement, the Company seeks to avoid undue market influence to the extent consistent with the client's trading needs and the Company's risk management policies and procedures. By continuing to use the Margin trading services described in this agreement, the client acknowledges that they are aware of the potential conflict of interest disclosed that may arise and cannot be completely eliminated, and they consent to the Company acting notwithstanding such potential conflict of interests.
2. Client money
   1. The money collected from clients is not invested in any securities, futures, or other investments on behalf of clients.
   2. The Company holds customer funds in bank accounts separate from the operational accounts, and arrangements have been made to ensure that the assets in the customer accounts will be distributed to the customers in the event of insolvency.
   3. The client's account should not be used as a banking facility, and deposits should only be made with a view to using funds for placing contracts. The Company is not a financial institution. clients will not receive interest on deposits. Should the client make repeated deposits and withdrawals without commensurate contracts being placed, the Company reserves the right to pass on to the client's account, without prior notice, any bank charges that the Company has incurred before closing the account.
3. Personal data and privacy
   1. The client acknowledges that the Company may use, store, or otherwise process personal information provided by the client in connection with the provision of the Margin trading services described in this agreement. The client consents to the processing and transmittal of their personal information for the purposes of performing the contract and administering the relationship between them and the Company.
   2. The client consents to the Company recording any telephone conversation between them and the Company. All instructions received by the telephone will be binding as if received in writing. Recorded telephone conversations between the client and the Company shall be, and remain, the Company's sole property. The client will accept recorded telephone conversations between them and the Company as conclusive evidence of instructions or conversations so recorded, and the Company may deliver copies of transcripts of such recordings to any court, regulatory, or governmental authority without seeking prior consent from the client.
   3. The Company may or may not use the client's personal information to contact the client at any reasonable time as part of the Company's marketing activities. The client authorises the Company to contact them by email or telephone to give them information about selected products and services offered by the Company. The client's consent to the Company using their personal information for this purpose applies to both the period that the client has an MT5 Real Account with the Company and after the client closes their MT5 Real Account. The client is asked to inform the Company in writing if they do not wish their personal information to be used for such purposes.
4. Confidentialité
   1. The personal information that the Company collects and holds is treated as confidential. Confidential information will not be used for any purpose other than in connection with the provision of the Margin trading services described in this agreement. Confidential information will only be disclosed as and when required by law. The Company may also disclose such personal information to: (i) other companies within the Binary Group of companies; (ii) any such third parties as the Company sees fit to assist in servicing the client's MT5 Real Account; (iii) regulatory authorities upon their reasonable request; (iv) any such third parties as the Company sees fit to assist in enforcing the Company's legal or contractual rights against the client, including but not limited to legal advisors; (v) third parties as the Company sees fit to investigate or prevent fraud or other illegal activities.

H. Quotes

1. Quote provision
   1. A higher price (Ask), at which a client can buy, and a lower price (Bid), at which a client can sell, are quoted for each Financial Instrument, and they are referred to as Company Prices. The difference between the Bid and Ask Prices is called the Spread.
   2. The Spread is subject to alteration, at the Company's absolute discretion. The client acknowledges that whilst the Company endeavours to maintain a competitive Spread, it may widen significantly in some circumstances, and such figures will be determined by the Company at its reasonable discretion. Spreads may be widened at the daily bank rollovers.
   3. All prices for Financial Instruments quoted on the Company website are real market prices and are hereby regarded as firm prices. Any slippage from the shown price during the execution of the Order is considered as consequential. Slippage may increase significantly at the daily bank rollovers. The client acknowledges that, by accepting this agreement, no frivolous quote is being offered to the client by the Company.

I. Trading

1. Opening a trade
   1. A trade is opened by either executing a "Buy" or a "Sell" Order based on a specified number of lots (volume) that constitute the Underlying Instrument of the relevant market.
   2. Any trade opened by the client must be within the available balance or limits in effect with respect to MT5 Real Account or any Transactions.
2. Closing a trade
   1. General provisions
      1. In order to profit from trading rate, it is necessary to close the position. To close a position, a trade operation opposite to the first one is executed.
      2. An Open Position may be closed by clicking the button "x".
      3. An Open Position may be partially closed by double clicking the position, selecting the volume to be partially closed from the context menu, and then clicking "Close".
      4. Upon closing a trade, the realised profit (or loss), which is represented by the difference between the opening level and closing level of the trade multiplied by the number of lots (volume), becomes due and payable by the Company to the client (or due and payable by the client to the Company in cases of realised loss).
   2. Trading rules
      1. The client acknowledges and accepts that a trade may be subject to market rules laid down in by-laws, rules, provisions, customs, and practices of an exchange, a market, a clearing house, a body, or any other organisation involved in the execution, clearing, and/or settlement of the said trade. Should any such organisation take decisions or measures which affect a trade or an Open Position, the Company shall be entitled to take any action (including closing any Open Position of the client) that it, at its sole discretion, considers reasonable.
      2. The client acknowledges and agrees that the Company may, at any time without prior notice and at its discretion, change the trading rules in relation to the following:
         1. Non-trading hours (e.g. the hours over the weekend during which trading of certain Transactions are not possible)
         2. The minimum, incremental, and maximum Order amount
         3. Margin Requirement
         4. The instruments available on the electronic trading platform (including their availability for trading)
         5. The cut-off time for performing Roll-overs and any long or short position swap charges
      3. Parts of this clause may not apply to Volatility Indices.

J. Electronic trading platform and Transactions

1. Tous les droits de propriété intellectuelle relatifs à la plateforme de trading MT5 sont détenus par le concédant de licence et restent la propriété exclusive du concédant de licence. Aucune disposition de cet accord ne vise à transférer de tels droits ou à conférer de tels droits au client.
2. The client's use of the MT5 trading platform, whether accessed through or downloaded from the Company website or a third-party website, is governed by the terms of use provided by the MT5 trading platform licensor to the client. In the event of any conflict between the content of this agreement and the agreement between the client and the MT5 trading platform licensor, the terms of this agreement shall prevail. It is the client's responsibility to ensure that the information technology that they use is compatible with the required information technology to support the MT5 trading platform.
3. The client acknowledges, understands, represents, and warrants that they are aware of the functional limitations of the MT5 trading platform (for example Wine, which is not a fully stable application, as disclosed by the MT5 trading platform licensor on their website).
4. The Company will act on any instructions given, or appearing to be given, by the client and received by the Company in relation to the Margin trading services provided through the MT5 trading platform, as deemed instructed by the client. However, it is not the Company's obligation to act on any instructions deemed given by the client, and the Company is not obligated to give the client any reasons for declining to do so. Instructions received by the Company from the client are deemed final and will not be revocable. It is the client's responsibility to ensure the genuineness and accuracy of the instructions given by them to the Company.
5. The Company will use reasonable endeavours within its control to ensure that all electronic data provided on the MT5 trading platform and all electronic Transactions instructed by the client and accepted and executed by the Company are not subject to network latency.
6. The client hereby agrees that they will not participate in any illegal, deceptive, misleading, or unethical practices including, but not limited to, disparagement of the MT5 trading platform or other practices which may be detrimental to the MT5 trading platform, the licensor, or public interest.
7. The Company sources market data from prime brokers who act as liquidity providers, thus executing the client's Transactions through a pool of aggregated liquidity from top tier banks. The services offered by the Company do not include physical delivery of foreign currency by the Company or the prime brokers to the client. the client acknowledges and agrees that such data is proprietary to the Company and any such provider, and the client will not retransmit, redistribute, publish, disclose, or display in whole or in part such data to third parties. The client represents and warrants that they will only use such data for purposes of facilitating their entry into Transactions with the Company on the client's MT5 Real Account in accordance with this agreement and not for any other purpose. This clause does not apply to Volatility Indices.

K. Event of Default

1. Chacun des événements suivants constituent un « Cas de Défaut » :
   1. The client passes away, becomes incapacitated, becomes of unsound mind, is unable to pay debts as they fall due, or goes bankrupt or becomes insolvent, as defined under any bankruptcy or insolvency law applicable to the client if the client is an individual.
   2. The Margin Level of the client's MT5 Real Account reaches or falls below the Stop Out Level.
   3. The client acts in breach of any warranty or representation made under this agreement, and/or any information provided to the Company in connection with this agreement is, or becomes, untrue or misleading.
   4. The client's debts are not settled as, and when, they fall due.
2. Rights on Default
   1. On the occurrence of an Event of Default, the Company may exercise its rights under this clause, at any time and without prior notice:
      1. Closing or partly closing all, or any, of the client's Open Positions based on the prevailing prices available in the relevant markets
      2. Suspending the client's MT5 Real Account and refusing to execute any Orders to enter into further Transactions with the client
3. In the event of the client failing to transfer funds to the client's MT5 Real Account, the Company may, at its absolute discretion, allow the client's Open Positions to remain open and allow the client to place new Orders to open a Transaction. The client acknowledges that, when their Open Positions are allowed to remain open, they may incur further losses.

L. Manifest Error

1. Binary.com se réserve le droit d'annuler ou d'amender les termes contractuels de toute Transaction dont la Compagnie croit raisonnablement qu'elle est conclue à des prix qui ne reflètent pas les prix du marché ou que celle-ci présente un niveau de risque anormalement bas en raison d'une erreur manifeste ou palpable (une « Erreur Manifeste »). Pour décider si une erreur est une erreur manifeste, la Compagnie peut tenir compte de toute information pertinente, y compris l'état du marché sous-jacent au moment de l'erreur et toute erreur relative à ce marché ou tout manque de clarté relatif à une source d'information ou une prise de position. Le client a l'obligation de signaler à la Compagnie tout problème, toute erreur ou tout soupçon d'insuffisance du système que le client peut rencontrer et ne peut abuser ou arbitrer de tels problèmes ou erreurs pour réaliser un profit. La Compagnie s'efforcera de résoudre toute difficulté de ce type dans les plus brefs délais.
2. Any amendments to the contractual terms of Manifestly Erroneous contracts shall be reasonable and fair and may involve closing and/or opening of positions, placing/deleting Orders without the client's involvement, making changes in Open Positions, deleting trades from trading history, etc. Monies exchanged between the client and the Company in connection with the Manifestly Erroneous contracts shall be returned to the recipient according to the amendments made to the contractual terms and conditions of this agreement.

M. Force majeure events

1. A force majeure event, if and when determined, means, (i) the Company, by reason of force majeure or act of state, is prevented from, hindered, or delayed in delivering or receiving, or is unable to deliver or receive, any quotation of the Bid and Ask Prices of a market in one or more of the instruments in which the Company ordinarily deals in Transactions; (ii) an excessive movement in the market of the instrument or the Company's reasonable anticipation of the potential occurrence of market disruption.
2. If the Company determines that a force majeure event exists, the Company shall promptly give notice thereof to the client. Subsequently, the Company may, at its absolute discretion, take one or more steps, including but not limited to the following:
   1. Suspend the trading of the affected instrument
   2. Alter the normal trading times for the affected instrument
   3. Close all or any of the client's Open Positions at a closing level that is reasonably available
   4. Change the Margin rate in relation to both Open Positions and new Orders
3. The Company shall not be in breach of its obligation under this agreement and shall not be held liable for any failure of or delay in performing its obligations under this agreement if such failure or delay is the result of the occurrence of a force majeure event.
4. Nothing in this section on force majeure events shall be taken as indicating that they constitute an Event of Default.
5. This section on force majeure events does not apply to Volatility Indices.

N. Representations and warranties

1. When the client enters into this agreement, they make the following representations and warranties to the Company and agree that such representations and warranties are deemed repeated each time the client opens or closes a Transaction:
   1. If the client is an individual, they are over 18 years old and they have full capacity to enter into this agreement.
   2. The client has fully read and understood the (i) Risk disclosure statement, (ii) Order execution policy, and (iii) Terms and conditions attached to this agreement before requesting to open an MT5 Real Account with the Company.
   3. The client has all necessary authority, powers, consents, licences, and authorisations and have taken all necessary actions to enable the client to enter into and perform this agreement and such Transactions lawfully.
   4. The execution, delivery, and performance of this agreement and each Transaction will not violate any law, ordinance, charter, by-law, or rule applicable to the client or the jurisdiction in which the client is resident.
   5. The client is willing and financially able to sustain a total loss of funds resulting from a Transaction, which may exceed the client's initial deposit unless they are a retail customer of Binary Investments (Europe) Ltd.
   6. Any information which the client provides or have provided to the Company in respect of their financial position, domicile, or other matters is accurate and not misleading in any material respect.
2. The client promises the following:
   1. They will, at all times, obtain, comply with, and do all that is necessary to maintain in full force and effect all authority, powers, consents, licences, and authorities referred to in this clause.
   2. They will take all reasonable steps to comply with any law, ordinance, charter, by-law, or rule applicable to the client or the jurisdiction in which the client is resident.
   3. They will provide the Company with any information that Binary.com may reasonably require to fully satisfy the demand or the requirements of the applicable government authority, upon the Company's request.
   4. They will use the Margin trading services described in this agreement in good faith and will not use any software, algorithm, or any trading strategy to manipulate or take unfair advantage of the way that the Company's Bid and Ask Prices are quoted. The client shall observe the standard of behaviour reasonably expected of persons in the client's position and not take any step which would cause Binary.com to fail to observe the standard of behaviour reasonably expected of persons in the Company's position.
3. The client acknowledges that the Company reserves the right to void or close out one or more of the client's Transactions if the Company observes any breaches of warranty given under this agreement.

O. Indemnification

1. Neither the Company nor any of its directors, officers, managers, employees, or agents shall be liable for any loss, damage, or debt to the client arising directly or indirectly out of, or in connection with, this agreement. The client agrees to indemnify the Company and its directors, officers, managers, employees, or agents from, and against, any and all liabilities, losses, damages, costs, and expenses (including reasonable attorney's fees) incurred arising out of the client's failure to comply with any and all of their obligations set forth in this agreement and/or the Company's enforcement against the client of any and all of its rights under this agreement.
2. Without prejudice to any other terms of this agreement, neither the Company nor any of its directors, officers, managers, employees, or agents shall be liable to the client in relation to any loss that they have incurred whether directly or indirectly by any cause beyond the Company's control, including, but not limited to, any delay or defect in or failure of the whole or any part of the MT5 trading platform or any systems or network links.
3. The Company does not make any warranty, express or implied, that any pricing or other information provided through the MT5 trading platform or otherwise is correct.

P. Miscellaneous

1. The client agrees that in any legal, arbitration, mediation, regulatory, administration, or any other proceedings initiated by them or by Binary.com, the Company's records related to the client's dealings shall constitute evidence. Subject to the laws and any court, tribunal, competent authority, or government authority orders, requests, instructions, or guidelines, the client shall not object to the admission of such records on the grounds that they are not originals or in writing, or that they are produced by computers or any other electronic systems whatsoever. The client shall not rely on the Company to meet any of their disclosures or other obligations imposed by any court, tribunal, competent authority, or government authority.
2. The Binary.com website is protected by certain copyrights. The materials comprising the website (including, without limitation, all articles, text, images, logos, compilation, systems, code, and design) are protected by Copyright 1999- Binary group of companies, all rights reserved. Such materials may be copied and distributed on a limited basis for non-commercial purposes only, provided that any material copied remain intact and that all copies include the following notice in a clearly visible position: "Copyright 1999- Binary Ltd. All rights reserved." These materials may not be copied or redistributed for commercial purposes or for compensation of any kind without prior written permission from a member of the Binary Group. Binary.com and the bull/bear logo are registered trademarks.
3. If any provision of this agreement shall be held invalid or unenforceable by a court or regulatory body of competent jurisdiction, the remainder of this agreement shall remain in full force and effect.
4. In connection with this agreement and all Transactions contemplated by this agreement, the client agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out, and perform all of the terms, provisions, and conditions of this agreement. The client shall cooperate fully with any investigation by any regulatory authority and promptly provide the regulatory authority with such information and records as may be requested in compliance with any law, ordinance, charter, by-law, or rule applicable to the client or the jurisdiction in which they are resident.

Q. Introducing Brokers

This Agreement sets out the terms and conditions between Binary.com and the Introducing Broker in providing Introducing Broker services to the Company in accordance with the provisions and terms of this Agreement.

The services offered by the Introducing Broker to the clients are offered because the Introducing Broker is approved and qualified to offer such services. Additionally, such services are offered by the Introducing Broker fairly, honestly and in good faith and in accordance with all business-ethics rules.

It is hereby agreed as follows:

1. Définitions

   In this Agreement, unless the context otherwise requires, the following definitions hold:

   Compte désigne le compte de trading d'un client ouvert avec Binary conformément à la procédure de compte fournie sur Binary.com.

   Agreement means this agreement and includes all appendices, schedules and annexures as amended, supplemented, replaced, or novated.

   Affiliate Arrangement désigne un arrangement dans lequel Binary consacre son temps et ses ressources à l'identification de clients potentiels d'une manière spécifiée.

   Associate means any physical person or any type of legal person or entity or body of persons which has business, commercial, financial, entrepreneurial, employment, agency, family, personal, and other links or bonds with the Introducing Broker and includes any person who has the same personal information, IP address, physical or mailing address, telephone number, email address, or passport details as the Introducing Broker.

   Authorisation means any written notarisation, certificate, license, approval, permission, Authority, exemptions, registration, filing, agreement, consent, notice, or notice of non-objection.

   Authority means organisation, whether governmental or not, or physical person or any type of legal person or entity or body of persons and any executor, administrator, or representative of such Competent Authority located in any jurisdiction that has legally delegated or invested authority, capacity, power, or competence to perform a designated function.

   Business Day signifie du Lundi au Vendredi (UTC+8).

   Client Information désigne l'ensemble des informations concernant le client, y compris, mais sans se limiter à, leurs nom, adresse, coordonnées, détails du compte et historique de trading.

   Commission means the commission payable by Binary to the Introducing Broker as set out in the Appendix below.

   Competent Authority means any organisation, whether governmental or not, or physical person or any type of legal person or entity or body of persons and any executor, administrator, or representative of such Competent Authority located in any jurisdiction that has legally delegated or invested authority, capacity, power, or competence to perform a designated function.

   Company or Binary signifie Binary.com.

   Effective Date means the commencement date of this Agreement.

   Introducing Broker means any potential individual or entity willing to provide Binary with IB services.

   Law means all laws including rules of common law, principles of equity, statutes, regulations, proclamations, ordinances, by-laws, rules, regulatory principles and requirements, policy statements, practice notes, mandatory codes of conduct, writs, orders, injunctions, judgments, determinations, and statutory licence conditions.

   Malicious Activity means any manipulations of Binary's systems and business in ways which resulted in any adverse, special, incidental, punitive or consequential loss or damages to Binary.

   Marketing Materials means any content, whether in electronic or hard copy form, created by or at the direction of Binary, for the purpose of marketing the Binary business or services, and incorporating the Binary Trademarks.

   Trademark means any trademarks, signs, logos, designs, expressions, and trading names owned by or licensed to Binary, whether registered or not registered, and any subsequent trademark created.

2. Acceptance of Agreement

   By indicating the acceptance of the terms and conditions of this Agreement and continuing with the Introducing Broker application to join the Company's Introducing Broker programme, the Introducing Broker is hereby agreeing with all the terms and provisions stated herein.

The Company shall, in its absolute discretion, determine whether the application of the Introducing Broker has been successful. The Company's decision is final and is not subject to any appeal.

The Company shall notify the Introducing Broker upon the successful approval of the Introducing Broker application.

3. Généralités

   This Agreement constitutes the entire agreement between the parties, and no earlier representation or arrangement, written or oral, relating to any matter dealt with in this Agreement between the parties shall have any force or effect before the Effective Date.

   Each party shall do anything reasonably required by the other party to give effect to the provisions and terms of this Agreement.

   Should any provisions or terms of this Agreement become invalid or unenforceable, the provision or term shall be severed from the remainder of the Agreement and shall not render the remainder Agreement to be invalid or unenforceable.

   If the Introducing Broker breaches any of the provisions or terms of this Agreement, the Company shall have the discretion to suspend any or all payments to the Introducing Broker.

   The Company may modify any provisions or terms of this Agreement at any time. It is the responsibility of the Introducing Broker to consistently review all modifications in the Agreement made on the website.

   The section headings are for convenience only and shall not control or affect the meaning, construction, scope, and intent of any of the provisions of this Agreement.

4. Introduction of clients and instructions

   The Introducing Broker shall use their experience, knowledge, and best efforts to provide IB services to Binary, and Binary shall remunerate the Introducing Broker for IB services in accordance to the Commission structure listed on Binary.com Introducing Broker programme.

   Upon request from the Company or its legal representatives or government regulators, the Introducing Broker must promptly grant Binary with unlimited access to information to the extent that Binary requires to satisfy any legal or regulatory requirement or obligation.

   The parties agree that the relationship between Binary and the Introducing Broker is not an exclusive relationship and both the Introducing Broker and Binary may enter into similar relationships with other parties.

5. The Introducing Broker's obligations

   The Introducing Broker must notify the Company immediately if they cease to possess any relevant Authorisation required or cease to be competent, capable, adequate, or qualified to effectively perform all their duties and obligations undertaken and agreed under this Agreement for any reason, including but not limited to lack of knowledge, expertise, experience, skills, and time. The Introducing Broker must also promptly notify the Company in writing upon the initiation of any proceedings in bankruptcy, dissolution, or liquidation.

   In providing IB services, the Introducing Broker shall:

   1. Use their best endeavours to attract potential clients for Binary
   2. Use the Marketing Materials provided by Binary solely for the purpose of providing IB services and in accordance with Binary's instructions
   3. Provide Binary with any information that they have become aware of which may result in an adverse or harmful consequence for Binary and its reputations
   4. Implement and comply with all business-related directions, policies, and procedures of Binary as enacted, amended, or replaced from time to time
   5. Comply with any Competent Authorities' requests or directions
   6. Perform IB services and other obligations mentioned here at its own cost and risk
   7. Fairly and accurately describe Binary's business and services in a transparent manner to the clients
   8. Provide information to clients only on technical and educational matters
   9. Inform any clients introduced to Binary that the trading services and products are offered by or through Binary and not the Introducing Broker
   10. Inform any clients introduced to Binary of any matter that the Company may reasonably consider necessary in order to comply with any legal/regulatory requirements

   Where the Introducing Broker owns, or operates, a website and wishes to include Binary's services, the Introducing Broker shall

   1. Receive the approval of the Company to include any information in relation to Binary
   2. Provide a web-link from their own website to Binary.com
   3. Include a disclaimer or notice that the intellectual property rights of the Trademark solely belong to Binary and any use of it is strictly prohibited unless Binary has given such authorisation.

   The Introducing Broker consents to the disclosure of their identity on the webpage of Binary.com or any publicly accessible medium managed by Binary.

   The Introducing Broker pledges that they shall not at any time

   1. Indicate that Binary or the Introducing Broker and their Associates will guarantee a client's profit or loss or limit the losses of any client
   2. Misrepresent Binary or the services that are offered by Binary
   3. Engage in misleading or deceptive conduct or illusory or deceptive advertising
   4. Prepare and publish any content or place any advertisements that refer to Binary and its relationship with Binary without the prior written consent of Binary
   5. Amend or change all or any part of the Marketing Material without Binary's prior written consent
   6. Use the name 'Binary' or any derivation of that name such as 'Binary.com' or the Binary Trademarks in a way that might compete with Binary's search engine optimisation without the prior written consent of Binary, which includes using the name 'Binary.com' on the title tag of the Introducing Broker's website
   7. Refer clients to Binary with the knowledge, or with a reasonably expected knowledge, that these clients engage in such conduct that constitutes Malicious Activity
   8. Provide any financial/investment trading advice to clients (Binary shall not be liable to the Introducing Broker and the client for any misrepresentation or fraudulent or negligent misstatement made by the Introducing Broker. The Introducing Broker shall also hold Binary harmless and shall indemnify Binary and its directors, officers, managers, employees, or agents from and against any liabilities, losses, damages, costs, and expenses, including all and any legal fees incurred arising out of the failure of the Introducing Brokers to comply with any or all of their obligations set forth in this Agreement.)

6. Comptes

   Binary shall have the absolute discretionary power to accept or reject an application to open an Account by a client introduced by the Introducing Broker.

7. Commissions

   Commission shall only be paid where the following are met cumulatively:

   1. Closed/complete trades
   2. Closed trades made by clients introduced by an Introducing Broker and duly approved by Binary

   However, Introducing Brokers contracted with Binary Investments (Europe) Ltd shall be paid on a Cost Per Acquisition (CPA) deal only, whereby the Introducing Broker shall become eligible for payment of a set amount only upon the introduction of a client to Binary and as long as the Introducing Broker is providing an enhanced service to the clients.

   Commission will not be paid for Accounts that have been opened or traded by an Associate of the Introducing Broker.

   Binary will pay the Commission to the Introducing Broker before or on the 15th day of the month following the calendar month in which the trades were made (Due Date).

   The Introducing Broker acknowledges that the Commission received by the Introducing Broker pursuant to this Agreement fully compensates for its obligations under this Agreement.

   The Introducing Broker is responsible for the payment of their own taxes, duties, fees, or other governmental levies or charges. Any fees payable by Binary to the Introducing Broker in connection with this Agreement are exclusive of any such taxes, duties, fees, or levies.

   The clauses above shall not apply in its entirety to any Introducing Brokers who are contracted to provide Introducing Broker services with Binary Investments (Europe) Ltd.

8. Introducing Broker warranties

   The Introducing Broker warrants to the Company at all times that

   1. All information/documentations provided by the Introducing Broker when applying for Binary's Introducing Broker programme is true and accurate
   2. They have obtained all Authorisations and are not aware of anything that shall or might reasonably be expected to prevent them from entering and performing all of their obligations under this Agreement
   3. They are not aware of anything that shall, or might reasonably be expected to, prevent, or obstruct them from performing all of their obligations under this Agreement, in the manner and at the times contemplated by this Agreement
   4. They will comply with all laws when performing their obligations under this Agreement
   5. This Agreement has been duly executed and constitutes binding obligations on both parties, enforceable against it in accordance with its terms
9. Limitation of liability

   Other than the payment of Commissions, Binary is not liable to the Introducing Broker or their Associates or any other person for any matter arising out of or in relation to this Agreement whether under the law of tort, contract, or equity or otherwise for any loss.

   The Introducing Broker agrees to indemnify Binary against any loss that Binary may suffer or incur arising out of, or in connection with, any act or omission of the Introducing Broker, or as a result of any fraud, negligence, wilful default, or material breach of this Agreement.

10. Term and termination of this Agreement

    This Agreement shall commence on the Effective Date and will continue to be in full force and effect until this Agreement is terminated in accordance with the provisions and terms of this Agreement.

    Either party may terminate this Agreement at any time by giving a seven-day (7) advanced written notice to the other party.

    If any of the parties is a physical person, this Agreement shall be terminated in the event of death or physical or mental incapacity of such parties.

    This Agreement shall be terminated should the behaviour of the Introducing Broker constitute negligence, misconduct, or wilful default.

    This Agreement shall be equally terminated in the event of bankruptcy, insolvency, or liquidation of either party.

    On termination of this Agreement

    1. Binary shall pay Commissions for any trades placed by clients prior to the date of termination but shall not be liable to pay Commissions for any trades placed by clients on or after the date of termination. In the case of the Introducing Brokers who are contracted with Binary Investments (Europe) Ltd, any pending Commission from the CPA deal prior to the date of termination shall be paid in full.
    2. The Introducing Broker shall immediately cease using the Marketing Materials whether in hard copy or electronically on any website and return all Marketing Materials to Binary. They shall also cease referring to Binary and shall remove all of the Binary Trademarks, including logos, branding, and other references to Binary from their website and/or marketing materials.
    3. The Introducing Broker acknowledges that on termination, they have no claims against Binary whatsoever and are not entitled to any compensation or claim arising from the termination.
    4. If the Introducing Broker engages in Malicious Activity, Binary, in its absolute discretion may
       1. Refuse to pay any Commission to the Introducing Broker engaged in the Malicious Activity
       2. Set off any Commission paid or payable by Binary to the Introducing Broker against any amounts held in any accounts of the Company

11. Notices

    Any notice required by this Agreement shall be in writing and shall be emailed to the following addresses:

    1. compliance@binary.com
    2. affiliates@binary.com

    In any event, an email notice shall be presumably and sufficiently served upon the completion of sending the email. Should the email be sent on a non-Business Day, it shall be presumably and sufficiently served on the next Business Day.

12. Confidential information

    Neither party shall, without the prior written consent of the other, disclose any details or information acquired directly or indirectly as a result of the relationship contemplated by this Agreement to any person or use the same for their own benefit, other than as contemplated in this Agreement.

    The clause above shall not apply to any information to the extent

    1. To which it, at the time of execution of this Agreement was, or subsequently has become, in the public domain through no fault of the parties
    2. That the recipient is obliged by Law to disclose such information, provided that the recipient promptly advises the other party of the legal obligation to disclose such information
    3. That the parties agree in writing that both parties will be exempt from the provisions of this clause

    Each party will

    1. Take all necessary steps at all times to ensure the non-disclosure and confidentiality of other party's confidential information
    2. Require its Associates, employees, and agents not to disclose or copy any of the other party's confidential information for any purpose except as permitted under this Agreement

    The obligations under this clause shall survive after the termination of this Agreement.

13. Assignment

    Binary may assign any or all of its rights under this Agreement to a third party.

    The Introducing Broker may not assign any or all of its rights under this Agreement without the prior written consent of Binary.

14. Agency or partnership

    The parties agree that nothing in this Agreement creates a relationship between them of employer/employee or principal/agent, a joint venture, or a partnership. Each party shall perform this Agreement as an independent contractor and shall solely be responsible for its own action or inaction.

15. Force majeure event

    No party shall be deemed liable for a partial or complete failure to meet its obligations under this Agreement, in case of force majeure events, including but not limited to civil war, unrest, insurrection, international intervention, any governmental actions, exchange controls, nationalisations, devaluations, forfeitures, natural disasters, act of God, and other inevitable or unforeseeable, unanticipated, and unpredicted events not depending on the will of the parties.

    The party that, due to force majeure events, is not able to meet their obligations under this Agreement, shall inform the other party in writing within six (6) days after the occurrence of such an event.

    Should force majeure events last for more than thirty (30) Business Days, the party not suffering force majeure events may terminate this Agreement immediately.

16. Governing law

    This Agreement will be governed and construed in accordance with the laws of the country in which the relevant subsidiary is located and the parties submit to the non-exclusive jurisdiction of the same courts.

R. Interpretation of terms

1. Solde du Compte — The client's Account Balance represents
   1. Net of fund transfers between the client's Binary.com account and their MT5 Real Account
   2. Net of realised profits credited to the client's MT5 Real Account and realised losses debited from their MT5 Real Account
   3. Net of any other money credited to the client's MT5 Real Account and debited from their MT5 Real Account

   The client's Account Balance includes Margin Requirement. The amount of the client's Account Balance in excess of Margin Requirement is available for withdrawal. The amount set aside for Margin Requirement is not available for the client's withdrawal.

2. Devise du Compte de Dépôt — the currency in which the client's MT5 Real Account will be operated
3. Compte de Capital — The client's Account Equity refers to the sum of their Account Balance and the net of unrealised profit and loss.
4. Compte de Marge Libre — The client's Account Equity minus their Total Margin
5. compte Binary.com — The client's Real Money Account opened with Binary.com, which the client uses to trade binary options with Binary.com trading platform and Binary Webtrader
6. CFD — contract for difference.
7. Régime de compensation — the scheme specified in the Investor Compensation Scheme Regulations (Laws of Malta/Subsidiary Legislation 370.09) for the purpose of paying compensation to the investors
8. Règles de Contrôle des Actifs — rules and regulations set out in the (Laws of Malta) Investment Services Act (Control of Assets) Regulations, 1998 as amended, or any subsequent regulation thereto
9. Dérivé — a Financial Instrument as defined in Article 2 Paragraph (5) of Regulation (EU) No 648/2012 of the European Parliament and of the Council (EMIR)
10. Événement — Event examples include circumstances whereby the type of Transaction, to which the client's Order is related, ceases to be offered, or a Corporate Event, or the insolvency of a company whose shares are related to the subject matter of the Order, and others
11. Instrument Financier — has the meaning attached to it by the Directive 2004/39/EC of the European Parliament and of the Council (MIFID) or subsequent Directive 2014/65/EU of the European Parliament and of the Council (MIFID II), whichever is in force
12. Effet de levier — a ratio which determines the minimum Margin requirement for a trader to open a trade
13. Lot — a Transaction unit representing a standardised quantity of the Underlying Instrument, as specified in the Product Disclosure and Specifications. One Lot constitutes the equivalent of 100,000 units of the base currency.
14. Limite/ Prix Limite — the price specified in the client's Limit Order
15. Ordre Limite — an Order to open or close a Transaction if and when a price quote becomes more favourable to the client when compared against the current price
16. Marge — the amount set aside by the Company from the client's Account Balance in order to open and maintain a Transaction, to cover the client's potential loss, if it occurs
17. Margin Call — Margin Call occurs when the Margin Level is less than the Margin Level set for the client's account.
18. Niveau de Marge — ratio of Account Equity to Total Margin, expressed as a percentage
19. Ordre de Marché — an Order to open or close a position in the market identified by reference to an Underlying Instrument at the current price
20. Margin Requirement — a percentage of the value and contract size of symbols for which there are Open Positions
21. Prochain Prix Disponible — nearest price reasonably available and quoted by Binary.com when the Company Price quotation reaches or goes beyond the level of the client's Stop Order
22. Positions Ouvertes — the position in a market identified by reference to an Underlying Instrument, created by opening a Transaction as a result of placing a buy or sell Order to the extent that such position has not been closed in whole or in part by on opposite Order under this agreement
23. Ordre — an execution instruction given by the client to the Company to open or close a position in a market identified by reference to the Underlying Instrument, including Market Order, Stop Order, Limit Order etc.
24. OTC — Financial Instruments traded over the counter, i.e. not traded on a formal exchange
25. Prix/Données relatives aux Prix — Bid and Ask Price(s) of each Financial Instrument in the Transaction system, quoted at market price at the moment of pricing
26. Client professionnel — a professional client as defined in the Directive 2004/39/EC of the European Parliament and of the Council (MiFID) or subsequent Directive 2014/65/EU of the European Parliament and of the Council (MiFID II), whichever is in force
27. Compte Réel MT5 — The client's Real Money Account opened with the Binary.com MT5 trading platform and licensed by MetaQuotes Software Corporation
28. Client de Détail — a client that is not a Professional client or Eligible Counterparty
29. Renouvellement — In the event that the Company does not receive Orders from the client to close an Open Position by the close of a Business Day, the Company will roll over the said Open Position to the following Business Day.
30. Refinancement de Crédit/Débit — Accounts with Open Positions being rolled over shall be credited or debited with an amount referred to as the Roll-over Credit/Debit, which is determined by the Company.
31. Règlement — Un Règlement survient lorsque le compte du client auprès de la Compagnie est crédité ou débité du montant net des résultats d'une Transaction.
32. Spread — the difference between the Bid and Ask Price of a Financial Instrument
33. Ordre Stop/Ordre Stop Loss — an Order to execute a Transaction to close an Open Position when the price reaches the client's specified price
34. Niveau Stop Out — the Margin Level at or below which the client's Open Positions may be closed forcefully and automatically with or without the client's prior consent
35. Durée — these terms and conditions that regulate the provision of services
36. Marge Totale — the aggregate of all Margin Requirements in the client's MT5 Real Account
37. Transaction — a contract entered into by the client in accordance with this agreement
38. Underlying Instrument — the underlying currency, or Financial Instrument, on which the price of the CFD is based

Contrat de Gestionnaire de Comptes Multiples (MAM)

A. Champ d’application de l’accord

1. Le Contrat est entre Binary (V) Ltd (ci-après référé comme 'la Société') et le Client qui autorise un Gestionnaire Multi-Comptes (ci-après référés comme le 'Gestionnaire de Fonds') pour gérer le Compte au nom du Client, chacun d'entre eux sont d'accord pour être liés par ce Contrat comme un supplément au Contrat Client.

B. Généralités

1. Ce Contrat constitue le Contrat complet entre les Parties et aucune représentation antérieure ou arrangement ou accord écrit ou oral concernant toute question traitée dans le présent Contrat entre les Parties n'aura aucune force ou effet avant la Date d’Entrée en vigueur.
2. Le Contrat est fourni au Client en Anglais, dans le cas où il y a une différence entre la version en Anglais et toute version traduite de ce document, la version en Anglais prévaudra.
3. Chacune des parties feront tout ce qui est raisonnablement requis par l’autre partie pour mettre en œuvre les termes du présent contrat.
4. Si n'importe quel terme de ce Contrat devient invalide, nulle ou inexécutable par toute autorité compétente ou l’organisme de réglementation, le reste du présent contrat restera en vigueur.

C. Interprétation

Aux fins du présent Contrat, ce qui suit signifiera :

« Compte »  signifie le compte de Trading Client ouvert avec Binary (V) Ltd.

« Contrat client » désigne l’accord entre le Client et la société y compris mais non limité aux Conditions Générales, à la Politique d’Exécution des Ordres et à la Politique de Gilissement.

« Date du Début de ce Contrat » désigne la date à laquelle la nomination d’un Gestionnaire de Fonds est faite par le Client.

« Entreprise » désigne Binary (V) Ltd., opérant sous la marque ou une marque de Binary.com, constituée et enregistrée dans la République de Vanuatu, au travers de la loi sur les Sociétés Internationales. (Cap. 222) et la Loi sur les Opérateurs Financiers sous Licence (Cap. 70), autorisées à fournir des services d’investissement et de négocier des valeurs mobilières.

« Manageur de Fonds » correspond à toute personne physique, y compris tout exécuteur, représentant, administrateur ou successeur en droit, habilitée à gérer le compte au nom du Client conformément au présent Accord.

« Commandes » désigne un ou plusieurs ordres pour toute transaction, en vertu de l’Accord Client et cet Accord Gestionnaire Multi-Compte (MAM).

« Transaction » désigne tout achat ou vente de tout Instrument financier, y compris mais non limité aux CFD, Rolling Spot FX, matières premières et tout autres titres ou produits peuvent être offerts par l’Entreprise au Client, de temps en temps selon l'Accord Client.

Les transactions concernant les options binaires tombent hors de la portée de l'Accord Gestionnaire Multi-Compte (MAM).

D. Dispositions du Contrat

1. En acceptant cet accord, vous acceptez d’autoriser le Gestionnaire de Fonds à gérer votre Compte en votre nom, conformément à l’Accord Client.
2. Vous reconnaissez que votre Compte doit être géré et échangé seulement par le Gestionnaire de Fonds et non par des tiers.
3. Vous acceptez et autorisez la société à divulguer au Gestionnaire de Fonds toutes données ou informations reliées à votre Compte.
4. Sans préjudice de tout droit de l’entreprise de refuser tout ordre passé par le Gestionnaire de Fonds, vous autorisez par la présente la société à accepter des Ordres du Gestionnaire de Fonds et à procéder à des opérations pour votre Compte.
5. Vous acceptez et autoriser le Gestionnaire de Fonds à placer des ordres ou des transactions pour votre Compte de la même manière et avec la même validité que vous pouvez placer de tels ordres pour votre Compte.
6. Vous reconnaissez que la société peut accepter des Ordres et procéder à des transactions pour votre Compte exécuté par des employés ou représentants du Gestionnaire de Fonds.
7. Vous acceptez que cet accord devienne effectif à la Date d’Entrée en vigueur. Vous acceptez également que, à moins que ce Contrat est révoqué ou résilié conformément à la Section E ci-dessous, ce Contrat devra rester valable et pleinement en vigueur.
8. Vous reconnaissez que le Gestionnaire de Fonds est admissible au bénéfice de USD $20 / par lot pour Commission en tant que frais. Vous acceptez également que la société se réserve le droit de réviser les tarifs de temps en temps. Vous reconnaissez en outre que la compagnie sera responsable du calcul des tarifs, par l’intermédiaire de ses systèmes automatisés. Ainsi, la société est dûment autorisée à déduire du montant, défini comme la Commission, sur le Compte et à payer au Gestionnaire de Fonds.

E. Résiliation

1. Vous avez droit de demander unilatéralement la révocation de la nomination du Gestionnaire de Fonds en révoquant votre autorisation de Gestionnaire de Fonds grâce à la fonction prévue à cette effet dans le système.
2. Lors de la révocation, vous reconnaissez et comprenez que votre Gestionnaire de Fonds perdra toute autorisation pour gérer votre Compte.
3. Vous reconnaissez et acceptez qu’il est de votre responsabilité absolue de vous assurer que tous les ordres ou positions ont été fermés sur votre Compte avant la révocation.

F. Exonération de responsabilité

1. Sous réserve de la loi et des termes de l’accord du Client, la Société décline toute responsabilité envers vous ou votre Gestionnaire de Fonds relative à toute question découlant de ou en relation avec cet accord.
2. La société ne sera pas responsable ou tenue responsable envers vous pour toute négligence, faute, actes frauduleux et omissions faites par vous ou votre gestionnaire de fonds.
3. Vous acceptez d’indemniser la Société de toute perte, détérioration ou responsabilité découlant de votre manquement ou de votre refus de confirmer tous les Ordres et/ou transactions.

G. Représentation ou Garantie

I. Représentation de la société

1. La Société vous fournira un accès en ligne à la plateforme de trading sur lequel le solde, marge, crédit et capital s’affichent afin que vous soyez en mesure de surveiller l’état et les performances du Compte. Vous acceptez qu’en cas d’incohérence, vous contactera immédiatement la compagnie à support@binary.com.

II. Représentation du client

1. Vous reconnaissez que vous avez le plein pouvoir et capacité de soumettre et de signer ce Contrat et d'accorder des autorisations au Gestionnaire de Fonds pour placer des ordres ou de procéder à toute transaction pour votre compte.
2. Vous reconnaissez que votre décision d’attribuer tous les droits en ce qui concerne la gestion, le trading et les opérations du Compte au Gestionnaire de Fonds est dûment claire, volontaire et sans réserve. Vous déclarez également que vous avez pris en considération les risques liés au trading de Rolling Spot FX, CFD, Matières Premières et autres titres ou produits qui peuvent être offerts par la Société pour vous, de temps à autre conformément au Contrat Client.
3. Vous reconnaissez que la société ne peut garantir que le logiciel fourni pour le Gestionnaire de Fonds est exempt de toute erreur. Par conséquent, vous acceptez que la société ne sera responsable d'aucun dommage et perte qui résulterait de cette erreur.
4. Vous reconnaissez que le Gestionnaire de Fonds n’est pas un employé ou un mandataire de la Société. Par conséquent, vous convenez que vous avez une responsabilité absolue de surveiller avec diligence la performance d’ensemble de votre Compte.
5. Vous reconnaissez que le Gestionnaire de Fonds n’est pas autorisé à faire des retraits ou à donner des instructions à l’égard de toute transaction de paiement pour votre Compte à une personne autre que vous-même. De même, le Gestionnaire de Fonds n’est pas autorisé à accepter ou modifier les termes du Contrat Client.
6. Sous réserve du droit applicable régissant l’accord du Client, vous déclarez et reconnaissez que ce Contrat est recevable comme preuve dans toute procédure d’arbitrage ou de médiation juridique, judiciaire, administrative.
7. Vous confirmez par la présente qu’outre le Contrat Client, vous avez lu attentivement et dûment compris le contenu de ce Contrat et acceptez d’être légalement lié ainsi.

Data feed

Here is some information about the data feeds used by the Company.

Différences par rapport aux autres sources de données

The Company's data feed may at times differ slightly from other data feeds found on the Internet (who may themselves differ from each other). Reasons for differences in feed providers include:

• For forex: The forex market is an OTC (over the counter) market, where banks and other major financial institutions trade currencies amongst themselves without there being any central clearing house. Accordingly, there is no 'official' price source for forex quotes. Different data feeds will contain quotes from a different sub-set of international banks. Accordingly, prices may differ among providers, depending on which bank(s) they obtain prices from.
• Market-closing times: The client is asked to refer to Trading times page for the exact time of settlement for all contracts. Other websites may adopt a different convention (for example, some websites choose 4 o'clock NY time or 5 o'clock London time). As a result, the open, high, low, and closing prices displayed on the Company's website may differ from those on other websites, due to the market-closing time convention.
• Use of bid/ask prices: When the market is illiquid, the data feed may contain many bid and ask prices, without there actually being any traded price for quite a while. By taking an average of the bid/ask price (i.e. bid + ask, divided by 2), a market quote is generated that reflects the current market, without it actually being a traded price. The Company's system will generate prices from these bid and ask prices, whereas other websites might not. As a result, the Company's website might display ticks that do not appear in the data feeds of other websites.

The Company's data feed is designed to be one of the best and most robust available for a trading environment.

Cotations du weekend

The client is asked to note that weekend quotes are ignored for the purpose of contract settlement. During weekends, the forex markets may occasionally generate prices; however, these prices are often artificial (traders sometimes take advantage of the illiquidity of the markets during weekends to push prices up or down). To avoid settling prices based on such artificial prices, it is Company's policy not to count weekend prices towards contract settlement values (except for Volatility Indices, which are open during weekends).

Sécurité et confidentialité

The Company recognises the importance of protecting the client's personal and financial information.

All the information that the Company obtains about the client assists the Company in servicing the client and the client's account. The Company knows that the client may be concerned about what the Company does with this information.

The Company has outlined the Company's privacy practices for the client as follows:

Use of information

The Company operates in full compliance with the General Data Protection Regulation (GDPR) and other applicable Data Protection laws. These regulatory measures place obligations on users of personal data like the Company. They also lay down the principles for fair and lawful processing of all the information that the Company acquires.

It is the Company's commitment to safeguard the client's privacy online at all times. The Company only uses the client's personal information to help the Company service the client's account, to improve the Company's services to the client, and to provide the client with products that the client has requested. The Company does not sell the client's personal information to third parties, but the Company may provide it to payment providers to facilitate transactions on the client's account.

The client's personal information is used primarily as a way of validating the client as the legitimate account owner and proper recipient of withdrawal payments. The Company also uses this information to process the client's trades. The Company collects from the client all personal and financial data directly relating to the client when the client fills in the Company's account opening form. In all instances, the client has either a legal or a contractual obligation to provide the Company with the information. If such information is not provided, the Company will be unable to provide the client with its services.

The Company reserves the right to request further information from the client whenever deemed appropriate under the circumstances. For example, the Company may ask the client to send the Company additional acceptable documents to confirm the authenticity of the client's account details or of any withdrawal request.

The Company holds all the personal data that the Company collects from the client with due diligence and only processes them for purposes as required or allowed by law. This includes the process of obtaining and sharing of certain information with third parties for credit or identity checks to comply with legal and regulatory obligations. In certain cases, the Company may process the client's data to fulfill the Company's contractual obligations with the client.

The Company also collects basic tax residence information for the purposes of CRS/FATCA compliance. The tax information that the client provides may only be disclosed to the authorities who are legally charged with collecting this information for CRS/FATCA reporting, and Binary.com will only do so to the extent that is legally obliged to collect it from the clients and disclose it to the authorities. The Company does not use, disclose, or process this information in any other way at any time.

The client may update the client's personal information at any time by logging in to the "Settings" section of the client's account. It is the client's responsibility to ensure that Binary.com is promptly and continually informed of any change in the client's personal information. The client should note that if the client provides the Company with inaccurate information, or if the client fails to notify the Company of any changes to the information previously supplied by the client, this may adversely affect the quality of the services that the Company can provide.

Profiling and categorisation

The Company collects and assesses the client's data to profile the client in relation to the Company's products. The Company does this manually with the assistance of automated processing. By categorisation, the Company will be able to provide the most appropriate products and services to the client.

Cookies and device information

Cookies are small text files stored on computer drives and are widely used in order to make websites work and to improve the user experience. All recent versions of browsers give the client a level of control over cookies. The client can delete all cookies that are already on the client's computer and the browser can be set to prevent them from being placed. However, if the client chooses not to receive the Company's cookies, the full usability of the Company's website may be adversely affected.

The client should note that the Company's website generates log files that record the IP addresses of accesses to the client's account, login attempts, and device information such as the manufacturer, model, operating system, and browser. This information is gathered for the sole purpose of providing assistance with investigating a client's account in the unlikely event that the account is accessed by unauthorised users. Information supplied by some cookies also helps the Company understand how visitors use the website, so that the Company can improve how it presents its content.

The Company's cookies are not deemed dangerous and cannot access any other information on the client's computer.

By using or interacting with the Binary.com website, the client is giving permission to the use of the Google Analytics User ID Feature, which allows Google to capture the client's Binary.com login ID such as VRTC1234 and MT1234. When this feature is enabled, no other personally identifiable information other than the client's Binary.com login ID, or other data that can be linked to such information by Google, is shared with or disclosed to Google.

Conservation des données

If the client chooses to close the client's Binary.com account, the client's data will be kept only until the Company's legal and regulatory obligations on data retention are met. The Company will delete the client's data once the applicable retention period expires.

Security statement

Taking the following measures, the Company is committed to making sure that the client's personal data and transactions are secure:

1. The client's password and login ID are unique, and passwords are hashed so that not even Binary.com staff can read them. This is the reason why the Company cannot retrieve the client's password and has to issue the client with a new one, sent to the client's email address, if the client cannot recall it.
2. The Company maintains customer balances in cash or cash equivalent. The Company ensures that 100% of each customer's balance is available for immediate withdrawal, subject to verification.
3. Toutes les informations relatives aux cartes bancaires sont directement transmises au réseau Visa/MasterCard par le biais de la dernière technologie de cryptage SSL, conformément aux politiques des banques.
4. The Company's information security policies are based on industry best practices in access control and business continuity.
5. The Company uses identity verification services and real-time fraud detection measures to help protect the client from unauthorised access to the client's account. The Company also monitors account activity for signs of unusual activity that might indicate fraud and work with collection and law-enforcement agencies to address fraud issues.
6. The client is responsible for keeping the client's log-in details secure, the security of any linked email address, and the security (password protection, screen locking, etc) of any personal computer or device on which the client's account is accessible. The Company shall not be held responsible if there is unauthorised use of the account when the Company is not at fault.

Liens

The Company's website contains links to other websites and may contain banner or icon advertisements related to third-party websites. These websites and their advertisements may submit cookies to the client's web browser, which is beyond the Company's control. The Company is not responsible for the privacy practices or the content of such websites. The Company encourages the client to read the privacy policies of these websites because their practices may differ from the Company's.

Notification of changes

Any changes in the Company's privacy policy or security statement will be posted on this website. For any material changes that directly affect the economic use of the client's personal information, the Company will request the client's prior authorisation in writing before effecting such changes on the client's account.

The client also has the right to request that the Company inform the client about the personal data that the Company processes about the client and to provide its correction where necessary.

Summary of the Conflicts policy

The Company provides here a summary of the policy that the Company maintains in order to manage conflicts of interest in respect of the duties that the Company owes to clients.

Généralités

Due to the nature of the Company's business as a trading counterparty, the Company's profits are tied to the net revenue generated by clients through trading. However, the Company aims to establish, maintain, and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of clients.

Due to the high degree of risk involved, which could result in the loss of the entire investment, the Company has adequate internal procedures in place to ensure that the client is in all cases treated fairly and that the risk of damage to client interests will be mitigated.

The Company's policy

The Company aims to keep a record of the kinds of activity that the Company carries on in which a material conflict could arise or has arisen. The Company also maintains procedures to manage actual or potential conflicts. This includes procedures to maintain appropriate independence among members of the Company's staff who are involved in potentially conflicting activities. Such independence-upholding procedures can be followed, for example, through the operation of information barriers, physical separation of staff, the segregation of duties and responsibilities, and the maintenance of a policy of independence, which requires the Company's staff, when providing services to a client, to act in the best interests of the client and to disregard any conflicts of interest, or in some circumstances, to decline to act for a client or potential client in order to avoid conflicts of interest.

Disclosure (General)

The organisational and administrative arrangements established by the Company to prevent or manage a conflict are not sufficient to ensure, with reasonable confidence, that the risk of damage to the interest of the client will be prevented. However, the Company aims to disclose the general nature or sources of conflicts of interest.

Les clients ont la possibilité de demander plus d’informations en envoyant un email à compliance@binary.com, auquel cas de plus amples détails concernant la politique de conflits d’intérêts seront mis à votre disposition.

Droit d'auteur

Le site web Binary.com est protégé par certains droits d'auteur.

The materials comprising the Binary.com website (including without limitation all articles, text, images, logos, compilation, systems, code, and design) are under Copyright 1999- Binary Group of companies with all rights reserved.

Ces contenus peuvent être copiés et distribués de manière limitée et uniquement à des fins non commerciales, tout contenu copié doit rester intact et toutes les copies doivent faire apparaître clairement le texte suivant : “Copyright 1999- Binary Ltd. Tous droits réservés.”

Ces matériaux ne peuvent être copiés ou redistribués à des fins commerciales ou pour toute compensation d’aucune sorte, sans une autorisation écrite préalable d’une société du Binary Group.

Binary.com et son logo taureau/ours sont des marques déposées.

Réclamations et litiges

If the client would like to file a complaint with regards to the Company's service, the client can contact the Company at complaints@binary.com, providing any relevant details relating to the client's complaint. The Company will investigate the client's enquiry and a response will be given. The Company usually provides a final response within 15 working days from receipt of all relevant details.

If the client's complaint relates to the Company's data processing practices, the client may formally submit a complaint to the Information and Data Protection Commissioner (Malta) on the entity's website. Alternatively, the client can make a complaint to any Supervisory Authority within the European Union.

Clients registered with Binary (IOM) Ltd can formally submit a complaint to their local Supervisory Authority.

If the client's complaint relates to an outcome of a trade or a transaction and remains unresolved, it will turn into a dispute. Should clients be unsatisfied with the Company's response, they can choose to escalate their complaint to the regulator or to an alternative dispute resolution entity.

Les clients enregistrés chez Binary (IOM) Ltd peuvent soumettre leurs litiges non résolus à l'organisme d'arbitrage indépendant IBAS (Service de jugement independant sur les jeux) en remplissant le formulaire de demande de décision arbitrale disponible sur le site internet de l'entité ADR.

Alternatively, EU residents who are registered with both Binary (IOM) Ltd and Binary (Europe) Ltd, can make use of the European Commission's Online Dispute Resolution (ODR) platform available here.

Les clients enregistrés avec Binary Investments (Europe) Ltd peuvent faire remonter leurs différends non résolus avec le Bureau de l’arbitre pour les Services financiers. Coordonnées et indications sur la façon d'envoyer une réclamation au bureau de l’arbitre se trouvent ici.

It is important that clients refer their disputes to the appropriate ADR for the claims to be valid.

Risk disclaimer

This notice provides the client with information about the risks associated with the contracts the client may purchase through services provided by Binary.com services.

Binary Group members are sometimes referred to collectively as "Binary.com" or "the Company".

This notice does not explain all of the risks involved in investments or similar products or how such risks relate to the client's personal circumstances. It is important that the client fully understand the risks involved before making a decision to enter into a trade with the Company. If the client is in any doubt about the risks involved, the client should seek professional advice.

If the client chooses to enter into a contract with the Company, it is important that the client remains aware of the risks involved, that the client has adequate investment resources to bear such risks, and that the client monitors the client's positions carefully.

General risks

No advice

The Company's services are provided on an execution-only basis. The Company does not provide investment advice in relation to the Company's products or services. The Company sometimes provides factual information or research recommendations about a market, information about transaction procedures, and information about the potential risks involved and how those risks may be minimised. However, any decision to use the Company's products or services is made by the client.

The client is responsible for managing the client's tax and legal affairs, including making any regulatory filings and payments and complying with applicable laws and regulations. The Company does not provide any regulatory, tax, or legal advice. If the client is in any doubt as to the tax treatment or liabilities of Products available through Binary.com, the client may wish to seek independent advice.

Pertinence

Investment Products to EEA residents are provided by Binary Investments (Europe) Ltd ("BIEL"), which is authorised and regulated by the Malta Financial Services Authority under the Malta Investment Services Act to deal on own account in Investment Products.

Before the Company opens an account for the client in which the client can trade or invest in Investment Products with BIEL, the Company is required to make an assessment of whether products or services that the client has chosen are appropriate for the client and to warn the client if, on the basis of the information that the client has provided to the Company, any such product or service is deemed not appropriate for the client. Any decision to open an account and to use the Company's products or services is the client's. It is the client's responsibility to understand the risks involved with the Company's products or services.

During the application process, the Company may ask the client for information about the client's background, experience, and investment assets and earnings. The Company does not monitor on the client's behalf whether the amount of money that the client has sent to the Company or the client's profits or losses are consistent with that information. It is up to the client to assess whether the client's investment resources are adequate for the client's investment activity with the Company and the client's risk appetite in the products and services that the client uses.

Need to monitor positions

It is important that the client monitor all of the client's positions closely. It is the client's responsibility to monitor the client's positions, and during the period that the client has any open contracts, the client should always have the ability to access the client's accounts.

Contract risks

The client should not trade or invest in Binary Options unless the client knows and understands the products' risks involved and that the client may lose all the money invested.

"Binary" or "digital" options are options that pay a pre-determined, fixed amount, depending on whether or not an event occurs at the time the Binary Option expires. Binary Options can have only one of two possible outcomes and allow the client to take a simple "Yes or No" approach. Like traditional options, Binary Options are based on an underlying asset such as currencies, commodities, or indices; however, one of the most significant differences between Binary Options and traditional options, among others, is that there can only be two outcomes for the option, either the client is paid the return upon the occurrence of the event, or the client loses the investment amount as determined in each option.

Trading in Binary Options is speculative and involves a high degree of risk that can result in the loss of the client's entire investment. Therefore, trading in Binary Options is appropriate only for persons that understand and are willing to assume the economic, legal, and other risks involved in such transactions. The client should be satisfied that Binary Options trading is suitable for the client in light of the client's investment circumstances and attitude towards risk before trading. The client should not engage in speculative Binary Options trading unless the client understands the basic aspects of such trading and its risks. If the client is in any doubt as to whether Binary Option trading is appropriate and suitable for the client, the client should seek independent advice from an investment consulting professional. Binary.com does not provide such advice. It is the client's responsibility, taking into account the client's personal circumstances and investment resources, to take particular care and make careful considerations independently, both prior to applying to engage in Binary Options with Binary.com and prior to making any individual order. Where the client does not understand the risks involved in applying for a trading account with Binary.com or in making any individual order, the client should seek advice and consultation from an independent investment advisor. If the client continues to not understand the risks involved in trading in Binary Options, the client should not trade at all.

The client is advised that the Binary Options offered by Binary.com are not traded under the rules of any recognised, designated, or regulated exchange. Consequently, engaging in Binary Options trading may expose the client to substantially greater risks than the investments that are so traded.

The client is warned of the following additional risks:

Derivative investment instruments such as Binary Options and related markets can be highly volatile. The prices of the underlying instrument that a Binary Option refers to may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the client or Binary.com.

Binary.com tries to maintain a reasonable relation between the quoted prices of each underlying asset that a Binary Option refers to and the actual market prices of such an asset. Binary.com makes no warranty, expressed or implied, that the quoted prices represent prevailing market prices.

Binary.com may have access to information that is not available to the client, may have acquired trading positions at prices that are not available to the client, and may have interests different from the client's interests. Binary.com does not undertake any obligation to provide the client with market or other information that the Company possesses, nor to alter or refrain from the Company's own trading.

Information de la performance précédente de n'importe quel instrument ou actif sous-jacent ne garantit pas sa performance actuelle et/ou future. Une performance du passé n'est pas un indicateur fiable des résultats futurs.

Risques liés aux poduits d'investissement

Investing or trading in contracts exposes the client to the performance of the underlying or reference instrument or asset to which the Binary contract refers, including foreign exchange, indices, and commodities, each of which have their own features and risks.

Exchange Rate Risk: Exchange rates between foreign currencies can change rapidly due to a wide range of economic, political, and other conditions, exposing the client to the risk of exchange rate losses in addition to the inherent risk of loss from trading the underlying Investment Product. If the client deposits funds in a currency to trade contracts denominated in a different currency, the client's gains or losses on the underlying investment may be affected by changes in the exchange rate between the currencies.

Other Risks: There are other risks related to trading Investment Products and foreign currencies that cannot be described in detail in this document. Generally, however, securities, options, and currency transactions involve exposure to a combination of the following risk factors: market risk, credit risk, settlement risk, liquidity risk, operational risk, and legal risk. For example, there can be serious market disruptions if local or overseas economic, political, or other unforeseen events affect the market. In addition to these types of risk, there may be other factors such as accounting and tax treatment issues that the client should consider.

Market opinions

All opinions, news, research, analysis, prices, or other information contained on this website are provided as general market commentary and do not constitute investment advice. Binary.com will not accept liability for any loss or damage, including, but without limitation to, any loss of profit that may arise directly or indirectly from the use of, or reliance on, such information.

Internet trading risks

There are risks associated with utilising an Internet-based deal execution trading system, including, but not limited to, the failure of hardware, software, and Internet connection. Since Binary.com does not control signal power, its reception or routing via Internet, the configuration of the client's equipment, or the reliability of its connection, the Company cannot be responsible for communication failures, distortions, or delays during online trading.

Accuracy of information

Le contenu de ce site internet est sujet à changement de tout temps sans notification et est fourni dans le seul but d'assister les traders dans la façon de prendre des décisions d'investissement indépendantes. Binary.com a pris des mesures raisonnables pour s'assurer de la précision des informations de ce site internet.

Costs and charges

The Company's costs and charges for depositing and withdrawing money are set out here. The client should be aware of all costs and charges that apply to the client because they will affect the client's profitability.

Risk disclosure statement

This risk disclosure statement is not exhaustive and is not intended to constitute a comprehensive statement of all the risks to which the client might be exposed and does not describe all the risks inherent to forex and contracts for differences that exist now or which may arise in the future. Its objective is rather to provide the client with information, so that the client can reasonably understand the risks associated with forex and contracts for differences offered by Binary.com, as it is the Company's intention to provide the client with the best possible trading experience.

Le Forex et les contracts pour différences sont à hauts risques et spéculatifs

Forex and contract for differences transactions involve a high degree of risk and are speculative because they allow the client to speculate on the short-term price movements of the underlying financial instruments. The client should not enter into forex and/or contract-for-difference transactions unless the client is able to sustain losses that exceed the client's deposited funds. It is important for the client to understand that in order to realise any value from the client's open positions, the client would have to enter into a corresponding transaction to close the client's open positions and may find it difficult or impossible to do so under certain market conditions.

Modèle d'execution et risque de contrepartie

Binary.com offers forex and contracts for differences via a series of models - either solely dealing on own account (dealing desk), or wholly hedging client orders with the Company's liquidity providers (no-dealing desk), or a hybrid model, depending on the Company with which the client has a contract. For the hybrid model, client orders are typically hedged when the total transaction volume exceeds a predefined threshold of risk tolerance level. For these execution models, Binary.com acts as the contractual counterparty to the transactions that the client enters into with the Company, as opposed to entering into a contractual counterparty with a central clearing house as would be the case with exchange-traded financial instruments. As such, counterparty risk exists. Counterparty risk refers to the risk of loss for clients resulting from the fact that the counterparty to the forex and/or contract-for-difference transaction that the client has entered into may default on its obligations prior to the final settlement of the transaction's cash flow.

Effet de levier

Leverage, in the context of margin trading, refers to the use of margin to increase/amplify the value of a trade. Leverage is expressed as a ratio. A 50:1 leverage, for example, means that the client would be able to enter into a trade position that is of 50 times higher than the client's margin. When the client invests in a leveraged product, the client's profit or loss is based on the leveraged position, i.e. the increased/amplified value of the client's trade is determined based on the leverage ratio that the client has set for the client's account.

Leverage can be used to generate returns that are of multiple times higher than the amount set aside from the client's account balance to open and maintain a transaction (the client's margin). However, investments that have the potential to deliver greater investment returns carry higher levels of risk. This means that if the price movement is against the client's favour, the client will suffer losses that are multiple times higher than the amount set aside from the client's account balance to open and maintain a transaction (the client's margin).

Relationship between margin and leverage

The leverage ratio refers to the number of times that the client's margin (the amount set aside from the client's account balance to open and maintain a transaction) can be "leveraged" to enter into a transaction. The denominator of the leverage ratio is always one. A 50:1 leverage is equivalent to a 2% margin requirement (1 divided by 50 = 2%). The leverage ratio that the Company/the client establishes will determine the amount of margin required. As leverage is inversely proportional to margin, as the leverage that the client sets for the client's account gets lower, the margin required to be set aside from the client's account balance (the client's margin requirement) gets higher.

Risk of stop order

The system fills orders on a first-in, first-out basis, i.e. based on the sequence of the order received, and this is beyond the Company's control. As a result, the client may find it difficult or impossible to close a position at the intended price stipulated in the client's stop order during certain market conditions. The placement of stop order by the client, though useful as a risk management tool, will not necessarily limit the client's losses to the client's intended amounts in the event of highly volatile trading conditions, since market conditions may make it impossible to execute such orders, and there is uncertainty about the client's possible exit price. In short, a stop order is not guaranteed because it cannot operate in all market circumstances.

Suivi standard des positions ouvertes

Trading forex and contracts for differences carries a high level of risk and Binary.com does not monitor the open positions of the client's account on the client's behalf. It is the client's responsibility to monitor the client's open positions and understand the exposure of the client's open positions whilst ensuring that the client's exposure commensurate with the client's risk appetite. Due to the cost associated with overnight open positions, the client should consider investing in the market of the instrument in which the client ordinarily transacts instead of investing in a CFD.

Risque de baisse

Whilst the Company endeavours to open or close the transaction to which the client's orders relate at the requested price, acting in accordance with the Company's duty of best execution, there are times when, due to an increase in volatility or volume, orders may be subject to slippage. The difference between the order price and execution price when orders are filled is known as slippage. This means that the client's order is not filled at the exact intended quoted price when the client places their order. Slippage is usually seen during periods of extremely high or low volatility and generally occurs during fundamental news releases or periods of limited liquidity. Slippages can result in either a positive slippage (more favourable to the client) or a negative slippage (less favourable to the client).

Forces externes

The client's forex and contract-for-difference transactions with Binary.com are linked to an underlying financial instrument, and the client will be exposed to price, currency exchange, interest rate, or other volatility of the market to which the client's financial instrument is related to, especially if the market is of a jurisdiction that is foreign to the client. Forex and contract-for-difference trading over the Internet via an electronic trading platform is subject to data latency risk, which may result in delays in order execution.

Résumé de la politique d'exécution des ordres

The Company has a general duty to conduct its business with the client honestly, fairly, and professionally and to act in the client's best interests when opening and closing Binary Options trades with the client.

More specifically, when the Company enters into a Binary Option trade with the client (each, a "Contract"), the Company has a duty to provide the client with 'best execution'. Best execution means that the Company must take reasonable steps to obtain the best possible result for the client when executing a client order. This document provides a summary of the Company's best execution policy.

The client should note that the Company's duty to provide the client with best execution does not apply to any gambling products that the client places with the Company when there is no underlying financial market.

Cette politique s’applique aux clients qualifiées de détail ou professionnel. Les clients classés comme contreparties éligibles se situent en dehors du cadre de cette politique.

Généralités

The Company's order execution policy comprises a set of procedures that are designed to obtain the best possible execution result for the client, subject to and taking into account the following factors:

• (a) The nature of the client's Contracts
• (b) The priorities that the client has identified for the Company in relation to entering into those Contracts
• (c) The practices relating to the market in question, with the aim of producing a result that provides, in the Company's view, the best balance across a range of sometimes conflicting factors

La politique de la Compagnie ne peut fournir une garantie, cependant, lors de l'entrée dans des contrats avec le client, le prix sera toujours meilleur que celui qui est ou aurait pu être disponible ailleurs.

Exécution des ordres

The Company is licensed to deal in derivatives on its own account. Client orders will be executed by the Company and the Company will always be the client's sole execution venue for all of the trades a client makes in binary options. This means that the Company will always act as the client's counterparty, wherein it takes the other side of the client's trade. The clients should be aware that they are exposed to higher risks as all Binary Options contracts are traded on over-the-counter (OTC) markets, as opposed to regulated exchanges. This section of the policy will outline how the Company intends to comply with its best execution obligations.

Catégories d’instruments

La Compagnie offre des options binaires grâce à sa plateforme interactive en ligne.

A binary option is a contract in which one party undertakes to pay the other party a specified amount if the value of a given asset changes in a specific direction within a predetermined period. The three major underlying asset classes for binary options offered by the Company are

• Forex
• Indices
• Matières premières

Meilleurs facteurs d'exécution

En ce qui concerne les Contrats que le client conclut avec la Compagnie, la Compagnie agit comme principal et non comme agent pour le compte du client ; par conséquent, la Compagnie agit comme le lieu d’exécution unique pour l’exécution des contrats du client.

La Compagnie assurera principalement la meilleure exécution pour le client s'attachant aux prix du marché lors du calcul des prix acheteur vendeur de la Compagnie pour le sous-jacent de référence auquel se rapporte le Contrat du client. Afin de déterminer le prix du marché, la Compagnie a accès à un certain nombre de sources de données différentes, qui fournissent à la Compagnie une vision objective des soumissions et offres disponible aux traders.

En relation à certains Contrats, il se peut qu'il n'y ait pas de marché en opération ou ouvert ou d'échange sur lequel le produit de référence est tradé au moment de l'ordre du client. Dans ces cas, la Compagnie tente de déterminer un prix sous-jacent juste basé sur un nombre de facteurs comme les mouvements de prix sur les marchés associés et autres influences de marché et informations sur l'ordre de notre client.

La Compagnie est tenue de tenir compte de plusieurs facteurs lorsque l'on considère comment donner au client la meilleure exécution, spécifiquement :

• (a) Prix et Coût

  The Company has internally set appropriate controls and monitoring to verify that its aggregate return on various underlying options and durations is equal to its commission charge of 3 - 5%. Proper back-testing is conducted on a quarterly basis to certify that the Company's return does not exceed this set mark-up and hence ascertain continued fair prices to the clientele, whilst mitigating the Company's conflicts of interest.

• (b) Vitesse

  En raison de la nature en ligne de l’entreprise et des instruments, il y a un léger décalage entre un ordre saisi et l’ordre en cours d’exécution sur le serveur. Tout retard significatif peut avoir des effets négatifs sur les clients ; par conséquent, la Compagnie surveille le temps de latence entre l’entrée et l’exécution des ordres des clients. Si ce retard dépasse le seuil établi, les administrateurs système seront avisés afin qu’ils puissent enquêter sur tous problème éventuel.

• (c) la Probabilité d’exécution

  La Compagnie s’efforce de faire en sorte que tous les ordres soient exécutés; cependant, ce n’est pas toujours possible en raison de difficultés matérielles ou de circonstances inhabituelles. En tous les cas où la Compagnie connaît des difficultés matérielles pertinentes à la bonne exécution d’un ordre, elle informera promptement le client du problème.

• (d) la Probabilité du règlement

  Au cours de marchés volatiles, la plateforme de trading de la Compagnie supporte de nombreux utilisateurs en ligne en même temps, des volumes importants d'ordres client, et un chiffre élevé de ticks prix importés. Du fait du service de meilleur exécution de la Compagnie envers ses clients, la Compagnie s'assure que sa plateforme fonctionne correctement dans des conditions difficiles et prend toutes les mesures pour sauvegarder la continuité et la régularité de la performance des activités d'investissement.

• (e) La taille et la nature

  Les ordres seront généralement acceptés automatiquement s'ils ne mènent pas la Compagnie à dépasser ses limites d’exposition et si le client a assez d’argent restant dans leur compte. Avec chaque contrat acheté, la Compagnie a en place des systèmes qui procèdent automatiquement à un contrôle de l'exposition totale et, dans le cas où le nouveau résultat de l’exposition totale est supérieure ou égale à 25 % du capital admissible, le contrat ne peut être vendu au client.

Instructions Spécifiques

Lorsque le client donne des instructions spécifiques à la Compagnie, incluant (a) spécifiant le prix d'un Contrat avec la Compagnie ou (b) spécifiant le prix auquel un Contrat doit être clôturé, alors ces instructions prévalent par rapport à d'autres aspects de la politique de la Compagnie.

Absence d'obligation fiduciaire

L'engagement de la Compagnie de fournir au client "la meilleure exécution" ne signifie pas que nous devons au client des responsabilités fiduciaires en plus des obligations spécifiques légales imposées à la Compagnie ou qui peuvent autrement être contractées entre la Compagnie et le client.

Contrôle et révision de cette politique

La Compagnie s'engage à superviser l'efficacité de ses modalités d'exécution des ordres et de sa politique d'exécution des ordres. De temps à autre, la Compagnie déterminera si les infrastructures que la Compagnie utilise pour la cotation de ses contrats au nom du client permettent de garantir une qualité d'exécution optimale et constante ou si une modification des modalités d'exécution de la Compagnie s'avère nécessaire. La Compagnie réévaluera également ses modalités d'exécution des ordres et sa politique d'exécution des ordres en fonction des changements importants intervenant au niveau de l'une des infrastructures de cotation sélectionnées par la Compagnie ou susceptibles de se répercuter sur sa capacité à garantir une qualité d'exécution optimale. La Compagnie avertira le client de tout changement de ses modalités d'exécution ou de sa politique d'exécution des ordres.

Politique d'exécution des ordres

A. Introduction

Les termes « la Compagnie » et «Binary.com» désigne Binary (V) Ltd, Binary (FX) Ltd, ou Binary Investments (Europe) Ltd.

La politique d’exécution des ordres (la "Politique") de la Compagnie expose la vue d'ensemble et l'approche de Binary.com en matière d'exécution des ordres pour le compte des clients de la Compagnie.

La Politique est complétée par l'Appendix A qui fournit de plus amples détails pour la considération de la Compagnie comme ils sont liés à différentes classes d'actifs. L'Appendice A attaché devra être lu en conjonction avec cette Politique.

B. Périmètre

Cette Politique s’applique aux clients individuels et professionnels de Binary.com échangeant les produits financiers offerts par Binary.com.

C. Définition de la meilleure exécution

Best execution is the requirement to take all sufficient steps to obtain, when executing orders, the best possible result for the client, taking into account price, costs, speed, likelihood of execution and settlement, size, nature, or any other consideration relevant (hereinafter referred to as the "Execution Factors") to the execution of the order.

D. Instructions Client

When the Company accepts an order from the client to open or close a transaction, or any other specific instructions in relation to the client's order, the Company will endeavour to follow the client's instructions as far as reasonably possible, acting in accordance with the Company's duty of best execution in accordance with the client's instructions. These specific instructions include, but are not limited to, the following:

• The venue at which the client's order will be executed
• The price at which the client's order will be executed
• The time at which the client's order will be executed
• The timeframe or duration of the contract as defined by the client's order execution

Quand un lieu particulier a été spécifié dans l'instruction client se rapportant à l'exécution d'un ordre, la Compagnie ne sera pas responsable de la sélection du lieu.

Quand un moment particulier ou période a été spécifié dans les instructions d'un client en respect de l'exécution d'un ordre, indépendamment du prix disponible, la Compagnie s'efforcera d'exécuter l'ordre à un moment spécifié ou sur la période spécifiée de la meilleure manière possible après avoir pris des mesures nécessaires. Cependant, la Compagnie ne sera pas responsable de toutes conséquences liées à la tarification qui résulte du moment ou de la période d’exécution.

Les aspects d'un ordre client qui ne font pas l'objet d'instructions spécifiques, sont soumis à l'application de la politique d'exécution des ordres Binary.com. En l'absence d'instructions spécifiques de la part des clients, la Compagnie déterminera à sa discrétion les facteurs qui doivent être pris en compte afin de fournir à ses clients les meilleures conditions d'exécution, conformément aux critères d’exécution listés ci-dessous :

• The characteristics of the client
• The characteristics of the order
• The characteristics of financial instruments that are the subject of that order
• The characteristics of the execution venues to which that order can be directed

E. Obligation de meilleure exécution

Binary.com vous doit un devoir de meilleure exécution lorsque l'ordre d'exécution est fait à la place du client c'est à dire lorsque le client place une légitime confiance dans la Compagnie pour sauvegarder les intérêts du client correspondant à l'exécution de l'ordre du client.

Dans le cadre des ordres que nous exécutons pour le compte du client, Binary.com tient compte des critères suivants pour parvenir au meilleur résultat possible pour le client :

• Price - the price at which the transaction in relation to the client's order is executed
• Costs - the costs of executing client order, predominantly comprising of spread, i.e. the difference between the Company's bid and the Company's offer price
• Speed - the speed at which client order can be executed
• Likelihood of execution and settlement - the depth of liquidity of the market to which client order is related
• Size - the size of client order determined by the volume (number of lots)
• Any other consideration relevant to the execution of the transaction

The factors listed above are not listed in order of priority. Ordinarily, price will merit a high relative importance in obtaining the best possible result for the client. However, the relative importance of the listed factors above may change in accordance with

• The specific instructions that the Company receives from the client
• The market conditions of the financial instruments that client orders are related to, which includes the need for timely execution, availability of price improvement, liquidity of the market, size of client order, and the potential impact on total consideration

La détermination de la Compagnie de la relative importance des facteurs d'exécution peut différer de ceux du client durant certaines circonstances, agissant dans l'intérêt en accord avec l'obligation de la Compagnie de meilleure exécution.

F. Lieux d'Exécution

Binary.com offers forex and contracts for differences via the hybrid model, i.e. dealing on own account (dealing desk – B-book) or partially hedging client orders with the Company's liquidity providers (no-dealing desk – A-book).

Lorsque la Compagnie traite pour compte propre (dealing desk), la Compagnie agit en tant que contrepartie principale et non en tant qu'agent au nom du client. Par conséquent, la Compagnie agit en tant qu'entité d'exécution.

Lorsque la Compagnie agit en tant que principal par rapport aux ordres client, la Compagnie estime aussi les lieux d’exécution que la Compagnie utilise et sur lesquels la Compagnie s'appuie pour fournir le meilleur résultat possible pour l’exécution des ordres client. Ces lieux typiquement consistent en des firmes d'investissement tierces, des courtiers, et/ou des fournisseurs de liquidité.

Binary.com évalue régulièrement le choix des lieux externes d’exécution (au moins une fois par an) avec l'intention d'obtenir le meilleur résultat pour le client basé sur l'obligation de meilleure exécution de la Compagnie.

Lors de l’exécution des ordres des clients utilisant le modèle A book, la Compagnie dirige le trade du client vers l’un de ses fournisseurs de liquidité, à savoir :

• GBE Brokers
• Invast Financial Services Pty Ltd
• FXOpen
• CFH Clearing Limited

G. Traitement des Ordres

Tous les ordres des clients sont traités par ordre de placement chronologique, sans intervention manuelle. Dans le cadre de l'exécution de l'ordre client, Binary.com s'efforcera de traiter la transaction correspondante aussi vite que possible, au prix indiqué (ou à un meilleur prix, le cas échéant). Les limites d'exposition au risque sont définies en fonction des modalités de gouvernance et du système de gestion du risque, pour refléter l'ampleur, la nature, la complexité et le profil de risque des activités de la Compagnie. Ces limites d'exposition servent de références afin de distinguer les ordres susceptibles d'être automatiquement acceptés des ordres qui seront évalués en fonction des conditions de marché tout en communiquant le niveau d'exécution au client.

H. Surveillance et examen

La Compagnie s'engage à superviser l'efficacité des modalités d'exécution des ordres et de la politique d'exécution des ordres de la Compagnie. De temps à autre, la Compagnie déterminera si les infrastructures que la Compagnie utilise pour la cotation des contrats de la Compagnie au nom du client permettent de garantir une qualité d'exécution optimale et constante ou si une modification des modalités d'exécution de la Compagnie s'avère nécessaire. La Compagnie réévaluera également les modalités d'exécution des ordres et la politique d'exécution des ordres de la Compagnie en fonction des changements importants intervenant au niveau de l'une des infrastructures de cotation sélectionnées par la Compagnie ou susceptibles de se répercuter sur sa capacité à garantir une qualité d'exécution optimale. La Compagnie avertira le client de tout changement de ses modalités d'exécution ou de sa politique d'exécution des ordres.

Appendice - Règles Spécifiques Produit

A. Transaction Forex spot

Pour les fonctionnalités et les illustrations d'opérations de Spot FX offertes par Binary.com, reportez vous à la Déclaration de Produit. Cette règle est un appendice et doit être lue en conjonction avec, la politique générale d’exécution des ordres Binary.com.

Binary.com provides the client with best execution by utilising a smart aggregation method when managing incoming orders. The smart aggregation method works by

• Consolidating liquidity from several providers into a single stream of blended feed
• Intelligently routing incoming orders to different types of execution modes based on configurations and algorithms established using best execution factors

Par défaut, le système d'acheminement intelligent des ordres garantit que le haut du registre est toujours compris des meilleurs taux de mises et d'offres cotés par les fournisseurs de liquidités concurrents. Cependant, durant les phases d'illiquidité du marché, cela peut changer avec la probabilité d'exécution devenant le facteur principal d'exécution.

Suivant le niveau de risque auquel la Compagnie est exposée en agissant comme la contrepartie client, la Compagnie agit largement en tant que principal des opérations client. Ainsi, le lieu d'exécution sera normalement Binary.com. Cependant, la Compagnie peut transmettre l'ordre du client à un fournisseur de liquidité en tierce partie, cas dans lequel la Compagnie déterminera le lieu d'exécution sur la base décrite ci-dessus.

Les lieux d'exécution sont évalués, de façon régulière, afin de savoir s'ils fournissent le meilleur résultat pour nos clients.

Payment agents terms and conditions

A. Scope of agreement

1. This agreement is between Binary (SVG) Ltd (hereinafter referred to as "the Company" or "Binary.com") and Payment Agent (hereinafter referred to as "the Agent"), both of whom agree to be bound by this agreement.
2. The Company and the Agent (hereinafter referred to as "the Parties") desire to enter into this agreement whereby the Company will offer to its clients local payment processing services through the Agent within a territory as specified in Section D of this agreement.

B. Généralités

1. This agreement constitutes the entire agreement between the Parties and no earlier representation, arrangement, or agreement, whether written or oral, relating to any matter dealt with in this agreement between the Parties, shall have any force or effect before the Commencement Date.
2. This agreement is supplied to the Agent in English. In the event that there is a difference between the English version and any translated versions of this document, the English version shall prevail. The Company shall not be liable for any loss or damage whatsoever caused by an error, inaccuracy, or misspelling and, as a result, by misunderstanding or misinterpretation of any of the terms or conditions or clauses or provisions of any translated versions of this agreement.
3. Each Party shall do anything reasonably required by the other Party to give effect to the provisions of this agreement.
4. If any provision of this agreement is held to be invalid, void, or unenforceable in any way by any court, arbitration, regulatory body, competent authority, or any other authority or law whatsoever in any jurisdiction in which the Agent provides their services, the remainder of this agreement shall remain in full force and effect.

C. Date d’entrée en vigueur

The Commencement Date of this agreement shall mean the date on which the Agent account is approved by the Company.

D. Provision of services

1. The Agent may provide the Agent's services to those clients of the Company who desire to deposit and/or withdraw money using the Agent. The Agent may provide the Agent's services to clients who intend to use e-wallet or e-payment methods other than those used by the Company (hereinafter referred to as the "e-payments") or local currencies other than those accepted by the Company (hereinafter referred to as the "local currencies") and local bank wire transfers (hereinafter referred to as the "bank wire transfers").
2. It is agreed that any deposits through the Agent shall be made as follows:
   • The client using e-payments and bank wire transfers may make a deposit to the Agent. The Agent, receiving the deposit, shall thereinafter make a deposit to the Agent's Binary.com account (hereinafter referred to as the "Binary.com Agent Account").
   • The sum received in the Binary.com Agent Account shall be subsequently transferred by the Agent to the respective client's Binary.com account (hereinafter referred to as the "Binary.com Client Account").
3. Il est convenu que tout retrait via l’Agent doit être effectué comme suit :
   • When the client requests a withdrawal from Binary.com Client Account, such request shall be automatically proceeded, and, as a result, the requested sum shall be transferred from the Binary.com Client Account to the Binary.com Agent Account. However, it is noted that when the client reaches the client's withdrawal limits, a withdrawal request shall not be automatically proceeded before the required authentication process is conducted.
   • The Agent shall thereinafter transfer the requested sum to the client. It is noted that these transactions fall out of the scope of this agreement, and, as a result, the Company shall not be liable against the Agent and the client or any other person, under contract, tort law, or any other applicable law, for any dispute or potential dispute arising out of or in connection with such transactions.
4. The Agent shall not be authorised to offer the Agent's services, under this agreement, to the clients who reside in restricted countries outlined in the Company's terms and conditions (as amended from time to time), which are published on the Company's website, www.binary.com.

E. Agent's obligations

1. Upon demand, the Agent shall provide the Company with all the requested information and documentation regarding their operations and competence, including but not limited to their registration, incorporation, memberships, authorisations, knowledge, expertise, and experience.
2. The Agent shall further undertake to perform all necessary due diligence on the Agent's clients, and the Company shall be entitled, at any time, to request the Agent to provide all information and documentation relating to their clients for the purposes of the Company's AML compliance.
3. Where the Agent ceases to be competent, capable, adequate, or qualified to effectively perform all of the Agent's duties and obligations that are undertaken and agreed to under this agreement, for any reason, including but not limited to lack of knowledge, expertise, experience, skills, and time, the Agent shall notify the Company immediately and without any delay.

   In providing the Agent's services, the Agent shall do the following:

   • Use their best endeavours and diligence to transfer funds deposited to Binary.com Agent Account to its respective Binary.com Client account
   • Provide the Company with all and any information whatsoever that the Agent may become aware of that may be harmful, adverse, or detrimental to the Company and its reputation
   • Follow, comply, and implement with all business-related directions, policies, and procedures of the Company as amended or re-enacted or replaced from time to time
   • Fairly and accurately describe the Agent's services to the clients
   • Perform the Agent's services and other obligations hereunder at their own cost and risk
4. Where the Agent owns or operates website/s, the Agent shall do the following:
   • Receive the approval of the Company to include any information in relation to the Company
   • Include a disclaimer and/or notice that any intellectual property rights, including any trademark or slogan whatsoever, belong to the Company, and any unauthorised use is strictly prohibited
5. Il est convenu que la société ne sera pas responsable de toute question découlant de l’utilisation ou l’exploitation de tout site Web appartenant ou utilisé par l’Agent. Il est entendu que l’Agent devra indemniser la Compagnie pour toutes pertes que la Société pourrait subir résultant de, ou en relation avec l’utilisation ou l’exploitation d’un site Web utilisé ou détenu par l’Agent.
6. It is further agreed and understood that the Agent shall not use any domain name that includes the name Binary.com and any derivation or variation of this name that might give the impression that the Company and the Agent are the same person.
7. The Agent shall not do the following:
   • Represent themselves as a representative of the Company or as an authorised person by the Company in their advertising activities
   • Use the Company's name or trademark in the Agent's advertising activities without a written authorisation to be given by the Company
   • Misrepresent the services that the Agent provides to the clients
   • Engage in misleading, illusory, or deceptive conduct
   • Engage in misleading, illusory, or deceptive advertising or promises
   • Prepare and publish any material or place any advertisements that refer to the Company and the Agent's relationship with the Company without an authorisation being given by the Company
   • Abusively or fraudulently use, for any purpose, the Application Programme Interface (API) of Binary.com

F. Company's obligations

Where the Company ascertains any mistakes or flaws related to deposits or withdrawals from or to Binary.com Agent Account or Binary.com Client Account, the Company shall, within a reasonable time, take all corrective measures to rectify such mistakes or flaws.

G. Representations and warranties

1. It is agreed that on the Commencement Date of this agreement and on the date of each transaction, the Agent represents and warrants the following:

   • Where the Agent is an individual, the Agent has reached the age of 18 years or over and has full capacity to enter into this agreement.
   • The Agent has all the necessary authority, power, consents, licences, or authorisations and has taken all necessary actions to enable themselves to lawfully enter into and perform this agreement.
   • This agreement, as well as any and all obligations or rights deriving from this agreement, is binding and enforceable against the Agent.
   • The provisions of this agreement or any orders and any applicable laws will not be breached or violated.
   • Any information that the Agent provided or will provide to the Company in relation to the Agent's financial position, domicile, or other matters is accurate and not misleading.
   • The Agent has taken all measures required to obtain and maintain in full force and effect all authority and/or powers and/or consents and/or licences and/or authorities to enter into and perform this agreement.
   • All reasonable steps are taken to comply with the law or any rules applicable to the jurisdiction in which the Agent resides.
   • Upon the Company's request, the Agent provides the Company with any and all information reasonably required to fully satisfy any and all demands, requests, orders, or requirements of any government or any other authority.

H. Anti-money laundering policy

1. The Agent shall provide any and all information and documentation required in the context of the due diligence that the Company shall conduct from time to time. The Company, complying with the law and providing its services under this agreement, shall be entitled, at any time, to request the Agent to provide all and any due diligence information and documentation related to the Agent and any other person connected or associated with the Agent for the purposes of this agreement.
2. The Agent represents and warrants that the Agent is and will be in compliance with all laws related to anti-money laundering as well as any financial or economic sanction programmes in the jurisdiction in which the Agent operates.
3. Where the Agent omits, fails, or refuses in any manner to provide the Company with evidence of the Agent's identity or any other evidence as required by the law in relation to anti-money laundering within a reasonable time, the Company reserves the right to cease to deal with the Agent.

I. Anti-corruption policy

1. The Agent promises to the Company that the Agent shall comply with, and the Agent's services will be performed in accordance with, any applicable anti-corruption laws.
2. This obligation encompasses the prohibition of unlawful payments or the granting of any form of unlawful benefits to public officials, business partners, employees, family members, or any other partners.
3. The Company shall have the right to suspend or terminate this agreement with immediate effect if the Company has reasonable suspicion that the Agent is undertaking any practices that are in breach of any applicable anti-corruption laws.

J. On-boarding policy

1. L’Agent doit présenter une demande comprenant les renseignements suivants :
   • Name, email address, and contact number
   • Website URL (where applicable)
   • Une liste des moyens de paiement acceptés
   • The commissions to be charged on deposits and withdrawals
   • Any other information as requested by the Company
2. The information outlined in Paragraph 1 of this section shall be submitted to affiliates@binary.com.
3. The application shall be reviewed and assessed by the Company's compliance and marketing departments. It is noted that, following and implementing the anti-money laundering policy and conducting due diligence in accordance with the law and regulations, the Company's compliance department shall request and collect all required information and documentation as per Section H.
4. The Company, exercising its absolute discretion, may accept or reject the Agent's application. Where the Agent's application is accepted, the Company shall include all relevant information, including but not limited to name, address, website URL (if available), email address, telephone number, commission rates, and payment methods used by the Agent, in the payment agent list which is disclosed on the Company's website, www.binary.com.

K. Évènements de Défaut

1. Each of the following events constitutes an "Event of Default":
   • In case of the Agent's death, incapacity, or mental unsoundness
   • Where the Agent becomes incapable to pay their debts as they fall due, or is bankrupt or insolvent, as defined under any and all applicable bankruptcy or insolvency law where the Agent is an individual
   • Where the Agent acts in breach of any warranty, representation, or promise made under this agreement, and any information provided to the Company in connection with this agreement is, or becomes, untrue or misleading
   • Where the Agent fails to comply with the Agent's obligations or fails to perform any of the Agent's duties or other provisions under this agreement and such failure continues for at least one business day after the receipt of the non-performance notice given by the Company
   • Where any proceedings are involuntarily initiated against the Agent by any third parties who seek or propose liquidation, reorganisation, restructuring, an arrangement or composition, or a freeze or moratorium in relation to the Agent or the Agent's debts in accordance with the law
   • Where any law-suit, action, or other legal or administrative proceedings in connection to this agreement are initiated for any execution, attachment or garnishment, or distress against the Agent or where an encumbrance takes possession of the entire or any part of the Agent's property, undertakings, or assets, whether tangible and intangible
   • Where the Agent is dissolved or deregistered from any records of a formal register whatsoever; furthermore, where any procedure is initiated that is seeking, intending, or proposing the Agent's dissolution or deregistration from any records of a formal register
   • Any event capable to have a material adverse effect on the Agent's ability to perform any of their duties and obligations in accordance with this agreement
2. It is agreed and understood that the Company may unilaterally terminate this agreement if any of the events mentioned in the paragraphs above occurs

L. Exonération de responsabilité

1. Subject to the law and the terms and conditions of this agreement, the Company shall not be liable to the Agent for any matter arising out of or in relation to this agreement.
2. The Company shall not be responsible or liable to the client for any fraudulent acts or omissions, negligence, misconduct, or wilful default made by the Agent. Likewise, the Company shall not be responsible or liable to the client if any terms and conditions of this agreement are breached by the Agent.
3. The Agent agrees to indemnify the Company for all and any losses that the Company may suffer arising out of, or in connection with, the Agent's fraudulent acts or omissions, negligence, misconduct, wilful default, or breach of this Agreement.
4. The Company shall not be responsible or liable for any advice on financial services provided by the Agent to any client.
5. The Company shall not perform any supervisory function regarding any financial services whatsoever provided by the Agent.
6. Subject to the law, neither the Company nor any of its directors, officers, managers, employees, or agents shall be liable to the Agent or client for any loss, damage, or debt whatsoever arising directly or indirectly out of, or in connection with, this agreement. The Agent agrees to indemnify the Company and its directors, officers, managers, employees, or agents from, and against, any and all liabilities, losses, damages, costs, and expenses, including all and any legal fees incurred arising out of the Agent's failure to comply with any and all of the Agent's obligations set forth in this agreement.

M. Modification/amendment

No modification or amendment of any or all clauses or provisions of this agreement shall be valid without the clear and unequivocal acceptance of such amendments by both Parties.

N. Intellectual property rights

1. The Company is the sole owner of all rights, titles, or interests whatsoever in and to all Binary.com electronic systems, including but not limited to any and all software, e-mail, and email management software, along with any modifications.
2. It is further noted that the Company shall be the sole owner of all rights, titles, or interests whatsoever of data and other information generated or produced and distributed by or through Binary.com electronic systems and other electronic systems used by Binary.com, along with any modifications.
3. All Binary.com's registered or unregistered proprietary rights, including but not limited to patents, trademarks, trade secrets, domain names, URL, pricing information or other proprietary rights materials, ideas, concepts, formats, suggestions, developments, arrangements, programmes, techniques, methodologies, knowhow, equipment, processes, procedures whatsoever shall solely remain with the Company.

O. Force majeure events

1. No Party shall be deemed liable for a partial or complete failure to meet its obligations, under this agreement, in case of force majeure events, including but not limited to civil war, unrest, insurrection, international intervention, any governmental actions, exchange controls, nationalisations, devaluations, forfeitures, natural disasters, act of God, and other inevitable, unforeseeable, unanticipated, or unpredicted events that are not depending on the will of the Parties.
2. The Party that is not able to meet its obligations under this agreement due to force majeure events shall inform the other Party in writing within five business days after such an event has occurred. The Party shall be deprived of the right to be released from any responsibility, under this agreement, where it fails to duly notify the other Party on time.
3. Force majeure events must be confirmed by an authority or government authority of the Party's residence.
4. If force majeure events last for more than 30 business days, the Party not suffering force majeure events may terminate this agreement immediately.

P. Confidentialité

1. The Agent shall treat all information related to the Company and the client, including but not limited to client's identity, financial status, trading, or transaction performance, as well as the Company's business plans, price points, ideas, concepts, formats, suggestions, developments, arrangements, programmes, techniques, methodologies, knowhow, equipment whatsoever, as confidential (hereinafter referred to as the "Confidential Information").
2. The Agent shall not produce any copies of any Confidential Information or any content based on the concepts contained within the Confidential Information for personal use or for distribution without the Company's request.
3. It is agreed that Confidential Information shall be considered as confidential even after the termination of the business relationship established under this agreement or any other agreement or arrangement between the Parties.
4. It is noted that immediately upon the termination of the relationship between the Company and the Agent, the Agent shall return to the Company any documents pertaining to the Company's business whatsoever which are in the Agent's possession.

Q. Résiliation

It is agreed and understood that any of the Parties may terminate this agreement by giving seven days written notice to the other Party.