The following describes the terms and conditions upon which owned and operated by DBA magnumoptions.eu («MO») offers access to its Website to you the customer («you») and the use of its services (the «Agreement»).
This Agreement describes the terms, conditions and risks applicable to your use of our services available under the domain of www.magnumoptions.eu (the «Site»). If you have any questions regarding this Agreement please contact Customer Support.
You must read, agree and accept all of the terms and conditions contained in this Agreement without modifications, which include those terms and conditions expressly set forth below and those incorporated by reference, before you may become a customer of MO. By continuing to access or use the Site, you agree to follow the terms and conditions of this Agreement as they may apply to you.
This Agreement is effective upon acceptance in registration for newly registering customers. If you do not agree to be bound by the terms and conditions of this Agreement, do not use or access our services, and inform us in writing immediately.
2. Online Services Agreement
This Agreement is made by and between MO and you.
This Agreement applies to both the Site and trading platform, as well as to the electronic content and or software currently contained on the Site that supplies the customer with real time information about the exchange rate of some currencies, as well as with the program facilities for executing trading transactions in the foreign exchange market via the web, phone or fax, and any other features, content or services that MO may add in the future (the «Services»).
3. Membership Eligibility
The Services are available to and may only be used by individuals or companies who can form legally binding contracts under the law applicable to their country of residence. Without limiting the foregoing, our Services are not available to persons under the age of 18 or otherwise under legal age («Minors»). If you are a Minor, you may not use this service. If you do not qualify, please do not use our site. For avoidance of doubt, we shall not be responsible for any unauthorized use by Minors of our Services in any way or manner.
USA citizens are restricted on this trading platform from trading currencies and commodities due to U.S. regulation by CFTC.
Without derogating from the above provision, we shall not be responsible for verifying and/or checking whether you have sufficient knowledge and/or experience, nor shall we be responsible for any damage and/or loss incurred by you due to and/or related to the Site, transactions carried out by you and/or your use of the Services.
Without limiting the foregoing, our Services are not available where they are illegal to use, and MO reserves the right to refuse and/or cancel Services to anyone at its own discretion.
4. Registration Information and Requirements
When you register for the service, MO will ask you to provide certain identifying information.
You are responsible for securing your Username and Password for your account with MO. You hold sole responsibility for any damage caused due to any act or omission by you causing inappropriate or irregular use of your account.
You agree to provide true, accurate, current and complete information about yourself during the registration process, and you also agree not to impersonate any person or entity, misrepresent any affiliation with another person, entity or association, use false headers or otherwise conceal your identity from MO for any purpose. If you are registering as or for a business entity, you hereby declare that you have the authority to bind that entity to this Agreement.
5. Legal Restrictions
Without limiting the foregoing, you understand that laws regarding financial contracts vary throughout the world, and it is your obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency with regards to the use of the Site. For avoidance of doubt, the ability to access our Site does not necessarily mean that our Services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residency.
You hereby declare that the moneys invested in your account with MO do not originate from drug trafficking, abduction, or any other criminal or illegal activity.
6. Limited License
MO grants you a non-exclusive, non-transferable and limited personal license to access and use the Site (the «License»). The License is conditioned on your continued compliance with the terms and conditions of this Agreement.
You agree not to resell or permit access of the Site to others, and not to copy any materials appearing on the Site for resale or for any other purpose to others without the prior written consent of MO.
For avoidance of doubt, you shall be responsible and bound by any unauthorized use of the Site, made in breach of this section.
You agree to use the information received from the information systems of MO for the sole purpose of executing transactions inside and within the Site.
You further agree not to use any electronic communication feature of a Service on the Site for any purpose that is unlawful, tortuous, abusive, and intrusive on another’s privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful.
The License granted under this Agreement will terminate if MO believes that any information provided by you, including your e-mail address, is no longer current or accurate, or if you fail to otherwise comply with any term or condition of this Agreement and all rules and guidelines for each service or MO establishes that you have abused in any way (including but not limited to engaging in a transaction out of market rates) the MO trading platform.
Upon such violation, you agree to cease accessing Services. You agree that MO, at its sole discretion and with or without notice, may terminate your access to any or all Services, close your open transaction and remove and discard any information or content within a Service.
7. Risk Disclosure
You agree to use the Site at your own risk.
Without limiting the foregoing, the Services contained within this Site are suitable only for customers who are able to bear the loss of all the money they invest, and who understand the risks and have experience in taking risks involved in financial markets.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with binary options trading, and seek advice from an independent financial advisor if you have any doubts.
8. Financial Information
MO may make available to you through one or more of its Services a broad range of financial information that is generated internally or obtained from agents, vendors or partners («Third Party Providers»). This includes, but is not limited to, financial market data, quotes, news, analyst opinions and research reports, graphs or data («Financial Information»).
Financial Information provided on this Site is not intended as investment advice. MO does not endorse or approve the Financial Information, and we make it available to you only as a service for your own convenience. MO and its Third Party Providers do not guarantee the accuracy, timeliness, completeness or correct sequencing of the Financial Information, or warrant any results from your use or reliance on the Financial Information.
Financial Information may quickly become unreliable for various reasons including, for example, changes in market conditions or economic circumstances. Neither MO nor the Third Party Providers are obligated to update any information or opinions contained in any Financial Information, and we may discontinue offering Financial Information at any time without notice.
It is your duty to verify the reliability of the information on the Site and its suitability to your needs. We exclude any liability for any claim, loss or damage of any kind allegedly caused by information presented on the Site or referred to by the Site.
9. Inactive Accounts
Accounts which do not present any type of transactions for a period of four months or more will be considered as Inactive Accounts.
The Company reserves the right to charge an account maintenance fee of 10USD (or the equivalent in other currencies) per month.
MO may provide a link to other sites that are controlled or offered by third parties. Such link to a site or sites is not an endorsement, authorization, sponsorship or affiliation with respect to such site, its owners or its providers.
MO cautions you to ensure that you understand the risks involved in using such sites before retrieving, using, relying upon or purchasing anything via the Internet.
Links to these Websites are provided solely for your convenience, and you agree that under no circumstances will you hold MO liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.
11A. Cancel Feature Abuse
MO offers a special cancellation feature that allows traders to cancel a trade within a few seconds of execution. Abuse of the cancelation feature can be considered market arbitrage and can result in forfeiture of profits. MO reserves the right to cancel a position if the cancellation feature is abused. The acceptable cancellation percentage cannot exceed 20% of the total number of executed trades. Cancelling more than 20% of the total number of executed trades is considered abuse of this feature and resulting profits may be forfeited from such abuse.
11B. Trading Cancellation
MO reserves the right in its sole discretion to refuse, cancel the Services, and/or refuse to distribute profits to anyone for any legitimate reason including, but not limited to:
- Any instance when MO has cause to believe that a person’s activities on the Site may be illegal;
- Any instance where MO may suffer any fiscal, regulatory, or pecuniary disadvantage by virtue of anyone’s activities;
- Any instance where one or more transactions on the Site are judged by MO to have been performed in violation of this Agreement.
12. KYC (Know Your Customer) Policy, Withdrawal and Refund Procedure
MO’s finance department handles all withdrawal and refund requests submitted. Know your customer policies have become increasingly important worldwide lately, especially among banks and other financial institutions, in order to prevent identity theft, money laundering, financial fraud and terrorist activity.
Magnum Options holds a zero tolerance fraud policy, and is taking all measures possible to prevent it. Any fraudulent activity will be documented and all related accounts to it will be immediately closed. All funds in these accounts will be forfeited.
Magnum Options aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method.
When you deposit funds we will require the following documents:
- A copy of a government issued ID
- Copies of your credit cards, used to make the deposit (Front side with only the 4 last digits visible, back side with the CVV covered).
- A copy of a utility bill or bank statement within the past 12 months, it must include your name, address and the logo of the issuing company.
*All copies of the documentation should be submitted in color.
If you have any questions please don’t hesitate to contact our customer support: email@example.com.
When do I need to provide these documents?
We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions to your benefit.
Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades.
Please note that if we will not receive the required documents on file, your pending withdrawals will be cancelled and credited back to your trading account. We will notify you on such event via our system.
How can I send you these documents?
Please scan your documents, or take a high quality digital camera picture, save the images as jpegs, then send it to us via mail to firstname.lastname@example.org.
How do I know my documents are safe with you?
Magnum Options holds the security of documentation at highest priority, and treats all documents it receives with utmost respect and confidentiality. All files we obtain are fully protected using the highest level possible of encryption at every step of the review process.
We thank you for your cooperation in helping us make Magnum Options a safer place to trade.
Initial deposits made with a credit card can only be withdrawn via the same method that was used to fund the account. The minimum withdrawal amount back to a credit card is 5 or 100 via bank wire transfer (depending on the currency to which your account is set). MO charges no withdrawal fees for credit cards. MO is not responsible for charges incurred due to foreign currency exchange.
Earnings can be withdrawn via bank wire transfer or credit card. MO reserves the right to withdrawal earnings via their choice of method. The minimum amount required to withdrawal earnings is 100, depending on the currency to which your account is set.
For bank wire transfers, MO covers the withdrawal fee for the first withdrawal of a given month. Any subsequent withdrawal using bank transfer will accompany a processing fee of $30, which covers the transfer fee. The transfer fee covers the charge of sending your earnings to your bank account; however MO is not responsible for any additional fees incurred.
Once a withdrawal request has been submitted, it will take MO up to 5 business days to process the request. Once the request has been approved please allow an additional 5-7 days for the funds to show in your account. If investment rewards and bonuses have been received, MO will only process a withdrawal request once all terms have been met. Withdrawals will be processed once a week on Thursday.
13. MO Investment Reward and Bonus Policy
MO offers a number of attractive reward features to its new and returning traders. Cash promotions, bonuses and one-time trading credits rewarded to customers are part of MO’s promotions program. These bonuses are limited time offers and the terms and conditions associated with any bonus rewards are subject to change. Unless stated otherwise on specific promotions the default promotional terms apply to all bonuses as shown below:
Withdrawal of funds which have received additional rewards, bonuses, or promotions, require a trading volume fulfillment of 30, 40 or 50 times the bonus or in the event of a refund bonus 20 times the bonus amount. The trade volume requirement begins upon receipt of the bonus in the traders account. Upon receipt of the bonus, the trading requirement must be fulfilled prior to withdrawing funds from the account. The volume requirement is subject to cancellation should the account balance drop below one (1) trade. The minimum trade is 25 EUR/USD depending on the currency of your account. Canceled trades are not counted towards the trading volume.
A single withdrawal is limited to $2,000 per week or the equivalent amount in another currency.
All funds can only be withdrawn when the preceding stipulation has been fully met and fulfilled;
this includes the original deposit and all other subsequent deposits. Please note the amount for the requested withdrawal is only deducted from your account balance once the funds have been transferred.
Any indication of fraud, manipulation, cash-back arbitrage, or other forms of deceitful or fraudulent activity based on the provision of the bonus will nullify the account and any and all profits or losses garnered.
13A. REFER A FRIEND
You will be entitled to receive the Refer a Friend Bonus (the «RF Bonus») if:
(i) Following a referral by you of a friend to MO (in accordance with the referral procedure of MO), the friend opens a user account with MO, deposits at least USD 200 in his account and performs a trade via the Site; provided that the friend never had a user account with MO (such a friend will be deemed a «Friend»), and (ii) Prior to the Friend opening an account with MO, you had a valid user account with MO, deposited USD 200 (at least) in your account with MO and performed a trade via the Site.
The sum of the Bonus will be USD 50 that will be deposited in the user accounts of both the Referee and the Friend. Each of the Referee and the Friend will be allowed to redeem the Bonus for withdrawal purposes only after making trades in the volume of at least 30 (thirty) times the sum of the Bonus.
If you are entitled to receive the RF Bonus, the Friend will be entitled to receive an RF Bonus as well.
If either you or the Friend are entitled to receive any other bonus, prize or benefit from MO in connection with the activities that give rise to the entitlement to the RF Bonus, then you and the Friend will receive the higher of the RF Bonus or the other bonus, prize or benefit — to be decided at the sole discretion of MO.
If, at any time before you or the Friend receive the RF Bonus, your or the Friend’s account with MO at the Site is closed, blocked, or self-excluded from promotional offers, neither the Friend nor you will be eligible for any RF Bonus.
The sum of the RF Bonus will be USD 50 that will be deposited in the user accounts of you and the Friend. You and the Friend will receive the RF Bonus in your user accounts within two business days from the date in which you are entitled to receive the RF Bonus in accordance with these terms and conditions.
There is no limit on the number of RF Bonuses you may receive, subject to these terms and conditions.
For the avoidance of doubt, it is hereby clarified that an RF Bonus will be granted once per Friend.
MO’s decision is final on all matters relating to the awarding of the RF Bonus and shall not be subject to review or appeal by you or any third party.
The provisions of article 12 of these terms and conditions apply to the RF Bonus as well.
14. Limited Liability
We undertake to supply steady Services on the Site. However, we assume no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, the Site or Services. We are not responsible for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, hardware, software, failure due to technical problems or traffic congestion on the Internet or on any of the Site or Services.
To the maximum extent permitted by applicable law, under no circumstances shall we be responsible for any loss or damage resulting from use of the Site or Services, from any content posted on or through the Site or Services, or from the conduct of any users of the Site or Services, whether online or offline.
IN NO EVENT SHALL MO OR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY DAMAGES WHATSOEVER, INCLUDING WITHOUT LIMITATION INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF THE SITE OR SERVICES, INCLUDING BUT NOT LIMITED TO THE QUALITY, ACCURACY, OR UTILITY OF THE INFORMATION PROVIDED AS PART OF OR THROUGH THE SITE OR FOR ANY INVESTMENT DECISIONS MADE ON THE BASIS OF SUCH INFORMATION, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT MO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL MO’S CUMULATIVE LIABILITY TO YOU EXCEED THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN YOUR ACCOUNT ON THE SITE IN RELATION TO THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
15. AML Procedures
No person shall abuse this site for the purpose of money laundering. MO employs best-practice anti-money laundering (AML) procedures. MO reserves the right to refuse to do business with, to discontinue to do business with, and to reverse the transactions of, customers who do not accept or conform to the following AML requirements and policies:
- Live traders must provide all requested information upon registration.
- Winnings will only be paid to the individual who initially registered to open a live account.
- When a customer maintains an account by means of telegraphic deposits, winnings will only be distributed to the holder of the originating bank account. When making deposits in this manner, it is the responsibility of the live trader to ensure that the trader’s account number and registered name of the account owner accompany all transfers to MO.
- When a customer funds an account by means of credit/debit card deposits, winnings will only be distributed to the individual whose name appears on the card used to make the deposit and only be paid back to the same card
- Only one account is allowed per person. No winnings may be collected on accounts opened in false names or on multiple accounts opened by the same person.
- MO may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until such proof has been provided to its satisfaction
16. Intellectual Property
All content, trademarks, services marks, trade names, logos and icons are the property of MO or its affiliates or agents and are protected by copyright laws and international treaties and provisions.
You agree not to delete any copyright notices or other indications of protected intellectual property rights from materials that you print or download from the Site. You will not obtain any intellectual property rights in, or any right or license to use such materials or the Site, other than as set out in this Agreement.
Images displayed on the Site are either the property of MO or used with permission. You agree not to upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual property right (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights and the prior written consent of MO.
You agree to defend and indemnify MO and its officers, directors, employees, and agents and to hold them harmless from and against any and all claims, liabilities, damages, losses, and expenses, including without limitation reasonable attorney’s fees and costs, arising out of or in any way connected with (i) your access to or use of the Site or Services; (ii) your violation of any of the terms of this Agreement; or (iii) your breach of any applicable laws or regulations.
18. Term and Termination
The term of the Agreement shall be unlimited, however MO will be allowed to terminate this Agreement at any time by notice to you. As of termination, you shall not be able to carry out new transactions.
This Agreement shall be governed by and interpreted in accordance with the laws of British Anguilla excluding that body of law pertaining to conflict of laws. Any legal action or proceeding arising under this Agreement will be brought exclusively in courts located in the British Anguilla, and the parties hereby irrevocably consent to the personal jurisdiction and venue therein.
MO will not be liable in any way to any persons in the event of force majeure, or for the act of any government or legal authority.
In the event that any provision in this Agreement is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect.
The failure of a party to enforce any right or provision of this Agreement will not be deemed a waiver of such right or provision.
MO may assign this Agreement or any rights and/or obligations hereunder without your consent.
MO may amend the terms of this Agreement from time to time by posting the amended terms on the Site. You are responsible for checking whether the Agreement was amended. Any amendment shall come into force as of the day it was published on the Site. If you do not agree to be bound by the changes to the terms and conditions of this Agreement, do not use or access our Services, and inform us in writing immediately.
20. Automatic Trading Mechanisms
Automatic trading mechanisms, including external execution systems, non-authorized Automatic and semi-automatic trading mechanisms integrated by a trader are considered to be abuse.
Using these systems on an internet browser without human execution is illegal and may result in position cancellation and/or account suspension. Positions that were taken via automatic trading mechanisms are considered off market transactions and will therefore be cancelled.
21. Recording of Calls
The Company informs the Client that it may record telephone conversations without use of a warning tone to ensure that the material terms of the transactions, and any other material information relating to the transactions is promptly and accurately recorded.
1. Such records will be our sole property and accepted by the Client as evidence of the orders or instructions given.
2. The Company is under no obligation to deliver or expose such material to anyone.
3. Any of these records/recordings may be used by the Company for any purpose the Company sees fit, including in the resolution of conflicts which might occur between the Parties.
4. In any event in which the Company shall be required to deliver a copy of such or provide documentation regarding your account, including by strict instructions from the competent bodies or authorities, you shall bear the full cost of duplicating and/or copying of any record and/or documents in accordance with the then current the Company official price list for such services.