Terms and Conditions
BY USING CLASSIC OPTIONS WEB SITE YOU ACCEPT, WITHOUT ANY LIMITATION, THESE TERMS AND CONDITIONS.
1. General Terms
This Agreement is executed by and between GRANDEXO LP, address: 272 Bath Street, Glasgow, G2 4JR, Scotland, UK("Company") and the Client, a physical or legal person,(the “Client”).
Clearing and billing services are done by GRANDEXO LP, address: 272 Bath Street, Glasgow, G2 4JR, Scotland, UK
W1T 1D Company No. SL022619.
Classic Options web site is accessible to traders worldwide. By using our web site you accept the Terms and Conditions set forth below. You must read, agree with 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 Classic Options. By continuing to access or use the Site, you agree to follow the terms and conditions of this Agreement, as they do apply to you.
This Agreement is effective upon acceptance upon the registration for newly registered customers. If you do not agree to be bound by the terms and conditions of this Agreement, then do not use or access our services, and inform us in writing immediately.
“Access Data” shall mean the Login and Password of the Client, which are required so as to have access on and use the Platform.
“Affiliate” shall mean in relation to the Company, any entity which directly or indirectly controls or is controlled by the Company, or any entity directly or indirectly under common control with the Company; and “control” means the power to direct or the presence of ground to manage the affairs of the Company or entity.
“Agreement” shall mean this “Client Agreement” and the following documents found on the Company’s Website: Security and Privacy, Anti-Money Laundering Policy, Risk Disclosure Notice, as amended from time to time and any subsequent Appendices added thereto.
“Binary Option” shall mean the Financial Instrument traded under this Agreement, which allows the traders to earn a fixed amount if they correctly predict whether the value of the Underlying Asset will reach above or below the Strike Price when it expires. If traders incorrectly predict the direction of the asset’s value, they lose their investment.
“Business Day” shall mean any day, other than a Saturday or a Sunday, or the 25th of December, or the 1st of January or any other UK or international holidays to be announced on the Company’s Website.
“Call Option” shall mean the one of the two option choices in Binary Options trading. If a trader believes that the value of the Underlying Asset will reach a higher value at the time of expiry, then they can purchase a call option.
“Client Account” shall mean the exclusive account of the Client consisting of all the Open Positions and Orders of the Client, the balance of the Client, money and deposit/withdrawal transactions of the Client.
“Open Position” shall mean any open option contract (call and / or put) which has not been closed.
“Order” shall mean an instruction from the Client to trade in Binary Options. There are two types of orders in Binary Option trading: Call Option and Put Option.
“Parties” shall mean the parties to this Client Agreement – the Company and the Client.
“Platform” shall mean the software operated and maintained by the Company, consisting of a trading platform, computer devices, software, databases, telecommunication hardware, programs and technical facilities, which facilitates trading activity of the Client in Binary Options via the Client Account.
“Put Option” shall mean one of the two option choices in Binary Option trading. If a trader believes that the value of the underlying asset will drop to a lower value at the time of expiry, then they can purchase a call option.
“Services” shall mean the services to be offered by the Company to the Client under this Agreement.
“Strike Price” shall mean the he price at which the owner of an option can purchase (call) or sell (put) the Underlying Asset.
“Underlying Asset” shall mean the object or underlying asset in a Binary Option which may be Currencies, Indices, Commodities, Stocks. It is understood that the list is subject to change and clients must refer each time on the Platform.
“Website” shall mean the Company’s website at www.classic-options.com or such other website as the Company may maintain from time to time.
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.
Furthermore, our Services are available only to, and may only be used by individuals who have sufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks of acquiring financial contracts via this Site, and have done so without relying on any information contained in this Site. You shall bear sole responsibility for any decision made and/or to be made by you relying on the content of the Site.
Without derogating from the above provision, we shall not be responsible for verifying and/or checking whether you possess such 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 Classic Options 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, Classic Options will ask you to provide certain identification information. You are responsible for securing your Username and Password for your account with Classic Options. 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 Classic Options 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 residence 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 residence.
You hereby declare that the money invested in your account with Classic Options do not originate from drug trafficking, abduction, or any other criminal or illegal activity.
6. Limited License
Classic Options 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 Classic Options.
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 Classic Options 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, intrusive on another’s privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful.
The License granted under this Agreement will be terminated if Classic Options believes that any information provided by you, including your email 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 if Classic Options establishes that you have abused in any way (including but not limited to engaging in a transaction out of market rates) on the Classic Options trading platform.
Upon such a violation, you agree to cease accessing the Services. You agree that Classic Options, 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 the 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 (digital) options trading, and seek advice from an independent financial advisor if you have any doubts.
8. Financial Information
Classic Options 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. Classic Options does not endorse or approve the Financial Information, and we make it available to you only as a service for your own convenience. Classic Options 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.
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. Classic Options may provide a link to other sites that are controlled or offered by third parties.
Such a link to a site or sites is not an endorsement, authorization, sponsorship or affiliation with respect to such site, its owners or its providers.
Links to these Websites are provided solely for your convenience, and you agree that under no circumstances will you hold Classic Options liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.
9. Company's Right and Trading Cancellation
Classic Options 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 Classic Options has cause to believe that a person’s activities on the Site may be illegal;
any instance where Classic Options 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 Classic Options to have been performed in violation of this Agreement.
The Classic Options reserves the right to suspend the operation of this site or sections thereof:
- When, as a result of political, economic, military or monetary events (including unusual market volatility or illiquidity) or any circumstances outside the control, responsibility and power of the Company, the continued operation of this site is not reasonably practicable without materially and adversely affecting and prejudicing the interests of Clients or the Classic Options, or if, in the opinion of the Company, a price cannot be calculated for financial contracts.
- When there is a breakdown in the means of communication normally employed in determining the price or value of any of the financial contracts or where the price or value of any of the financial contracts cannot be promptly or accurately ascertained.
- The Company has and retains the right, to terminate any event or trade, including but not limited to the occurrence of any of the above events.
- In any event of an error in current prices, published odds or trading software.
- In all circumstances, the Company reserves the right to make changes to these Terms and Conditions. If the Company elects to make any material changes to these Terms and Conditions, our clients will be notified in advance and shall either accept or decline to agree. Declining to agree shall result in a material breach of this agreement and the client's account maybe frozen, suspended or cancelled.
In such an event, the Classic Options may at its sole discretion (with or without notice) close out Client's open financial contracts at prices it considers fair and reasonable at such a time and no claims may be entertained against the Company in connection thereto.
Further, the Company, under the above circumstances, or any other, reserves the right to adjust a client's account should any trade result in a disruption, miscarry or aborted trade.
The Company has the right at its sole discretion (with or without notice) to change or delete all or any open or closed trade.
Although the Company has and retains all rights to refuse or to close a Client's account, the Company does warrant that all contractual obligations already made, shall be honoured.
The Company reserves the right to cancel/reverse transactions or amend the contractual terms (including, but not limited to, entry and exit spot) in the case that any contracts are acquired or sold at prices that do not reflect fair market prices or that are acquired or sold at an abnormally low level of risk due to an undetected programming error, bug or glitch in our website software, market data feed or contract pricing latency, data feed error, stray quotes, incorrect pricing parameters, or manifest mis-calculation of prices or other obvious errors ("Manifest Errors"). Clients have a duty to report to the Company any such problems, errors or suspected system inadequacies that they may experience and may not abuse of or arbitrage such system problems or errors for profit. The Company will endeavour to resolve any such difficulties in the shortest time possible. Any amendments to the contractual terms (including, but not limited to, entry and exit spot) of Manifestly Erroneous contracts shall be reasonable and fair. Monies exchanged between oneself and the Company in connection with Manifestly Erroneous contracts shall be returned to the recipient according to the amendments made to the contractual terms (including, but not limited to, entry and exit spot). You further acknowledge and agree that the Company will not be held liable or responsible, whether directly or indirectly, for any loss, expenses or damage caused or alleged to be caused by or in connection with a Manifest Error.
Persons with insider knowledge of any financial market or instrument including but not limited to automatic trading systems, robot trading systems are prohibited from trading at this website.
10. Canceling trading account
Client may cancel his/her trading account at any time. Account cancellation is free of charge. In order to cancel his/her trading account the Client has to place a withdrawal request in the Cashier section and inform us about his decision to cancel the account. If the Client account is inactive for 12 months or more, and after notifying the Client in its last known address, the Company reserves the right to close the Client account and render it dormant. Money in the dormant account shall remain owing to the Client and the Company shall return such funds upon request by the Client at any time thereafter.
11. Withdrawal Procedure
Classic Options finance department handles all submitted withdrawal requests. Standard identification documents must be submitted in order to process a withdrawal.
There is no fee to withdraw. The minimum withdrawal is 500 of the currency you used to make the initial deposit: EUR, USD, GBP. The customer must have at least 15 trades during last month to make a withdrawal.
Once a withdrawal request is submitted it can take Classic Options up to 5 days to process the request. Once the request has been approved please allow additional 2-3 days for the funds to show in your bank account.
12. Inactivity Fees
Fees may be payable by you by virtue of the fact that the Trading Platform is continually provided to you for trading, regardless of your actual use. If there are no transactions (deposits, withdrawals or trading activity) on your Trading Account for a period of at least one (1) month or more, the Company reserves the right, to charge a monthly inactivity fee on your Trading Account, in return for the provision of the continued availability of your Trading Account. You agree that you are liable to and will pay the applicable fee as notified to you from time to time and that we may deduct such fee from any funds held by us on your behalf. The monthly inactivity fee shall increase as the total period of inactivity increases.
|Inactive Period||Monthly fee in USD|
|up to 1 month||0|
|2-3 months||10% of account balance but not less than 50$|
|4 or more||15% of account balance but not less than 100$|
13. Trade payout and refund
The client hereby accepts that there is no way to cancel any order or transaction once it has been executed. Without derogating from the aforementioned statement, the client understands such limitations by pressing on the Trade icon. The payout for your trade is clearly visible on your platform. No refund is available for any transaction that closes with out-of-the-money status.
14. Classic Options Bonus Policy
Classic Options at its sole discretion may offer bonuses or any other kind of benefits to the Client, to set its conditions, and/or change them without prior notice to the Client. Regular bonus, unless expressly stated otherwise, is a subject to 35 times volume turnover requirement. Non-deposit bonus is a subject to 50 times volume turnover requirement. Therefore, in order to withdraw any funds, the preceding stipulation must be fully met.
Classic Options’ decision is final on all matters relating to the special offers and promotions and shall not be subject to review or appeal by you or any third party.
15. 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 Classic OPTIONS 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 CLASSIC OPTIONS 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 Classic OPTIONS 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.
16. Intellectual Property
All content, trademarks, services marks, trade names, logos and icons are the property of Classic Options 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 Classic Options 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 Classic Options.
17. Term and Termination
The term of the Agreement shall be unlimited. However, Classic Options 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.
Classic Options 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.
Classic Options may assign this Agreement or any rights and/or obligations hereunder without your consent.
Classic Options 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 to all existing accounts. If you do not agree to be bound by the changes to the terms and conditions of this Agreement, please do not use or access our Services, and inform us in writing immediately.
All rights and remedies provided to the Company under the Agreement are cumulative and are not exclusive of any rights or remedies provided by law.
In the event of the death or mental incapacity of the Client, all funds held by the Company or its Nominee, will be for the benefit and at the order of the survivor(s) and all obligations and liabilities owed to the Company will be owed by such survivor(s).