1. General Terms
This contract explains the use of various conditions applied to the services available on the domain of markets.online (henceforth “Our Site”). Please make sure to go through the content of Markets.Online’s Terms and condition before using its services and feel free to use the customer support Live Chat button located on the bottom-right of the page or contact Markets.Online by email at [email protected] whenever you have a question. The website is accessible to anyone with an internet access. Access to and use of the site is subject to the following terms and conditions.
The company reserves the right to make any change to the site’s content and/or the trading platform, including any part of it, regarding trading products and/or features, and/or the software that are in use for the site or the platform.
BY USING AND ACCESSING THE WEB SITE, YOU ACCEPT, WITHOUT LIMITATION, ALL OF THESE TERMS AND CONDITIONS.
Markets.Online reserves the right to change these Terms and Conditions at any time. Change of these Terms and Conditions will occur by mere posting of a new and modified version of the Terms and Conditions on The Site. By using the web site, the client agrees in advance that each use will be subject to the then applicable Terms and Conditions and that he accepts the Terms and Conditions and Privacy Statement set forth below. If the client does not agree with these policies, please discontinue using this Site immediately.
2. Online Services Agreement
This Agreement applies to both the Site and trading platform, and to the electronic content and / or software currently contained on the Site, which provides customers with real-time information on exchange rates of currencies, and the program transaction services relating to financial market trading via internet, telephone or fax, and any other features, content or services that Markets.Online may add later (the “Services”).
3. Membership Eligibility
Services are available and reserved only for individuals or businesses that can establish a legally binding contract under the laws applicable in their country of residence. Without limiting the undermentioned terms, Markets.Online Services isnot available to people under the age of 18 or who have not attained the legal age of majority . If you are a minor, you cannot use this service. PLEASE DO NOT USE THIS SITE IF YOU ARE NOT LEGALLY QUALIFIED.
To avoid any doubt, Markets.Online disclaim any liability for unauthorized use by minors, of Markets.Online’s Services in any manner or another. In addition, the client is solely responsible for any decision you undertake.
Without derogating from the above-mentioned provision, Markets.Online disclaim any responsibility for auditing and/or checking the client’s level of knowledge and/or experience, and any liability for damages and/or loss suffered as a direct result and/or indirectly from the client’s use of the Site. It is the same for any transaction and/or use of the Services. Without limiting the above-mentioned provisions, Markets.Online’s Services is not available in areas where their use is illegal and Markets.Online reserves the right to refuse and/or cancel access to its Services to anyone at its sole convenience.
When the client opens an account with Markets.Online, he also declares that he did it willingly, without the solicitation of Markets.Online
Markets.Online forbids any person using its trading platform to use any third parties intermediate, which includes any person, any devices or arrangements or any other means, to commit any fraudulent activities. This prohibition also applies to law infringement, interfering with affiliates or produce unsubstantial information in regards to the Markets.Online website. Markets.Online likewise, will not tolerate the non-respect of rules and regulations, or any case of abuse of features on the website (Forex Scalping). The Company and/or Affiliates shall have their own basis of gauging fraudulent activities at their sole discretion.
5. Registration Information And Requirements
When registering, the client will have to provide Markets.Online with some specific identification information. The client is responsible for the security of his account’s login and password with Markets.Online. The client is solely responsible for any damage caused by reason of any act or omission resulting in improper or illegal use of his account.
The client agrees to provide accurate and complete information about himself during the registration process and he also agrees not to impersonate any other person or entity, and not to hide his identity from Markets.Online for any reason whatsoever. If the client registers as a commercial entity, he declares that he has the required authority to bind that entity to this Agreement.
Also, note that Markets.Online maintains effective and transparent procedures for reasonable and prompt complaint handling for existing and potential retail clients, and keeps records of complaints and measures taken for complaint resolution. The purpose of this procedure is to ensure fair and consistent dealing with client complaints whilst striving to provide the highest level of customer service.
6. Legal Restrictions
Without limiting the undermentioned provisions, the client understand that laws regarding financial contracts vary throughout the world, and it is his responsibility to make sure he properly complies with any law, regulation or guideline in his country of residence regarding the use of the Site. The client also agrees that he should inform Markets.Online about any subsequent changes in the legal status regarding the services he receives from the company. To avoid any doubt, the ability to access The Site does not necessarily mean that Markets.Online’s Services and/or the client’s activities through the Site are legal under the laws, regulations or directives relevant to the client’s country of residence.
This Agreement, and the rights and obligations of the parties hereto, shall be governed by, construed and enforced in all respects by the laws of the Republic of Seychelles, without regard to choice of law principles.
Furthermore the service is provided in accordance with and under the Seychelles Securities Act 2007. The client hereby declares that the money in his account opened with the company, does not come from drug trafficking, kidnapping or any other illegal or criminal activity.
7. Limited License
Markets.Online grants the client a limited non-exclusive, non-transferable license to access and use the Site (henceforth “the License”). The License is subject to the client’s compliance with the terms of this Agreement. You agree not to resell or make the Site available to any other person, and will not copy any documents contained on the Site for resale or for any other purpose without the prior written consent of Markets.Online.
To avoid any doubt, the client will be liable and bound by any unauthorized use of the Site, in violation of this section. The client agrees to use all the information received from the information systems of Markets.Online for the sole purpose of performing transactions in the limits of the Site only.
The client also agree not to use any electronic communication feature of a Service on the Site for any illegal, abusive, intrusive, obscene, threatening or hateful purpose, as well as harassment and vilification in the privacy of others. The license granted hereunder, shall terminate if Markets.Online considers that any information provided by the client, including his e-mail, is no longer current or accurate, or if he fails to comply with any terms or conditions of This Agreement and all rules and guidelines for each service. It will be the same if Markets.Online determines that he has committed a crime on the Markets.Online trading platform (including, without limitation, the conclusion of a transaction outside the market rates).
If such a violation occurs, the client agrees to cease accessing the Services. The client agrees that Markets.Online, in its sole discretion and with or without notice, may terminate his access to all or part of the Services, close any transactions, remove and discard any information or content within a Service.
8. Risk Disclosure
THE CLIENT AGREES TO USE THE SITE AT HIS OWN RISK.
Without limiting the undermentioned provisions, The Client acknowledges that investments in leveraged FX transactions are speculative, involve a high degree of risk, and are appropriate only for persons who can assume risk of loss of their margin deposit. The Services provided on this Site are intended only to customers who are able to withstand the loss of any money they invest and who understand the risks and have experience in taking risks in financial markets. The possibility exists that the client could endure a loss of some or all of his initial investment and hence he should not invest money that he cannot afford to lose. He should be aware of all the risks related to trading, and solicit advice from an independent financial advisor in case of doubts.
9. Financial Information
Through one or more of its Services, Markets.Online can offer the client a wide range of financial information that is generated internally from agents, suppliers or partners (henceforth “Third Party Providers”). This includes, but is not limited to financial market data, quotes and news, analyst opinions and research reports, graphs and data (“Financial Information”).
The Financial Information provided on this Site is not an intentional investment advice. The Company offers Financial Information only as a Service and is therefore not to be construed as offering trading advice. Customer agrees that he/she is a self-directed investor and all orders entered are unsolicited and based on Customer’s own investment decision or the investment decision of Customer’s duly authorized representative. The Company and its Third Party Providers do not warrant the accuracy, timeliness, completeness or correct sequencing of the Financial Information, or results of the client’s use of this financial information. The financial information may promptly become unreliable for various reasons, including, for instance, changes in market conditions or economic circumstances. Neither the Company nor its Third Party Providers are required to update the information or opinions included within the Financial Information, and Markets.Online can interrupt the flow of Financial Information at any time without notice.
It is the client’s responsibility to verify the reliability of the information on the Site and its suitability for his needs. Markets.Online exclude all liability for any claim, damage or loss of any kind caused by information contained in the Site or referenced by the Site.
Markets.Online may offer a link to other websites that are provided or controlled by Third Party Providers. Such link to a site or sites is neither an endorsement or an approval nor a sponsorship or an affiliation to such site, its owners or its suppliers. Markets.Online hereby implies that the client understand the risks associated with the use of such sites before retrieving, using or purchasing via the internet.
Links to these sites are provided solely for the client’s convenience and the client agrees not to hold Markets.Online responsible for any loss or damage due to the use or reliance on any content, products or services available on other sites.
Markets.Online makes use of external worldwide service providers in order to supply the best and comprehensive service during all trading hours. Such services should be considered as Markets.Online’s direct services. For privacy and personal safety, personnel may make use of alias names, typically more easily pronounced anglo saxon names.
11. Trading Cancellation
Markets.Online reserves the right, in its sole discretion, to refuse or cancel Services, and/or refuse to distribute profits to any person for legitimate reasons, including, without limitation:
- If Markets.Online may be harmed by any fiscal or pecuniary damage due to anyone’s activities.
- If Markets.Online considers that one or more operations on the Site were made in violation of this Agreement.
12. Trading Confirmation
The company does not provide trading slips as confirmation of an opened position on the trading platform. The live statement on the customer’s trading interface shall be the official mean of confirmation; once it is accepted there, it is thereof considered as validated on the system. For any queries regarding the confirmation of trading position, please contact Markets.Online customer support on [email protected]. Furthermore, the company executes orders as Agent for the Client on the trading platform and will not be a party to such trade, as they will be executed in the trading system of the relevant exchange at the best price available at the time of the order, or accordingly to the Client’s specific instructions where warranted.
Markets.Online’s finance department supervises every withdrawal request submitted. Note that for any withdrawal request, the client should make sure that his trading account has not been termed as Dormant (As defined in Section 16 of the Terms and Conditions)and is in line with any other section of Markets.Online terms and condition not expressly mentioned in Section 13. The Client must imperatively place at least 5 trades on the platform following his first deposit. If the client decides to trade using Simplex, then the minimum Investment amount shall be 10 USD per trade. Failure to do so will void any withdrawal requests. In case the client’s trading account has been termed as Dormant, his withdrawal procedure(s) will be delayed or voided depending on Markets.Online sole discretion. Markets.Online reserves the right to charge a fee for any withdrawals request.
- Wire Transfers- 50 USD/GBP/EURO
- Credit Card-25 USD/GBP/EURO (Note that a Processing Fee is also applicable to credit card withdrawals
- Processing Fee for Credit Cards:
- USD- 10 or
- GBP- 5 or
- EUR- 7
- E-payments- 25 USD/GBP/EURO
Basically, the Minimum Amounts that can be withdrawn are as follows:
- Credit Card- 100 USD/GBP/EURO
- Bank Wire Transfer- 500 USD/GBP/EURO (note that a profit of at least 500 USD/GBP/EURO should be have been made in order to use this withdrawal method)
- E-Wallet- 100 USD/GBP/EURO
If a trader wants to withdraw a minimum of $500 by bank wire transfer, he/she will have to pay an additional fee as per Markets.Online’s terms and conditions. The client also need to ensure that his withdrawal request is aligned with Markets.Online’s terms and conditions. However, in the case of withdrawal requests by Credit Card, the maximum withdrawal amount per transaction cannot exceed $20k. Limits imposed on withdrawals via Credit Card are as follows:
- 3 cards per account
- 10 transactions per card
- $50k maximum amount withdrawal per card per month
Likewise, Markets.Online charges a tariff of 10% if a client’s trading account has not crossed a turnover of $200. This tariff is also valid when the client request for a withdrawal but his account has not been verified. When a withdrawal request is submitted, Markets.Online may take up to 3 business days to process the request. When a client’s application is approved he is require to wait for 5 to 7 additional days before seeing his funds in his bank account. The funds will not take more than 21 business days before appearing in the client’s bank account. For profits, minimum amount which can be withdrawn is 500 USD/GBP/EURO including charges. Markets.Online can process profits withdrawal via Bank Wire Transfer upon specific request by a trader.
Equally, note that Markets.Online requires telephonic approval to finalize the withdrawal procedure. But as explained, no withdrawal will be processed in instances where compliance documents are missing and where a trading account has been termed as fraudulent.
Also note that for any withdrawal request, traders should provide documents or any other type of identification confirmation (i.e. identity card, driving license or passport photo) in case Compliance Documents have not been previously submitted. Markets.Online’s finance department handles all submitted withdrawal requests.
Moreover, Markets.Online uses the ‘source to source’ policy when processing withdrawals. This signifies that if a trader has used a specific method to deposit funds in his/her trading account, the same payment technique will be used to process a withdrawal. For instance, if a trader uses Bank Wire Transfer to fund his/her trading account, the same method should be used when withdrawing profits, which is through Bank Wire Transfer itself. However, profits can be transferred by Bank Wire Transfer upon specific request by a trader.
In the event that a client’s trading account has been alleged with any kind of fraudulent activities or arbitrage, his account will have to undergo close investigation. During this specific period, the client shall receive only 10% of his withdrawable capital on a monthly basis, excluding any trading benefits associated to the account as from when the investigation has started. Following the completion of the enquiry, the remaining withdrawable amount will be transferred to the client’s account. If ever, the client’s trading account has been termed as fraudulent, sanctions will be taken. Please refer to the Fraud and the above section of the Terms and Conditions.
The company reserves the right to choose the withdrawal method, without being committed to any method.
14. Bonus Policy
Markets.Online reserves the legal right, but is in no way required to offer bonus programs (i.e. “bonuses”, “promotions” and “benefits”) to new and regular Customers, to set the conditions of these programs and / or change them without notice to the Customer.
Any bonus programs provided by Markets.Online are held under the following terms and conditions:
- Bonus programs are only available to Traders who are Fully Compliant, i.e those who have met Markets.Online’s KYC Guidelines.
- All bonus programs are valid for a limited period of time and can be subject to change without prior notice by the Company.
- A received bonus earning will be added to the Customer’s account as credit, and is intended for trading purposes only – and it can be used immediately.
- For Forex trading, the minimum count of lots required for each granted bonus credit, shall be the amount of bonus credit itself divided by 5. Clients are hereby informed that turnover completed while trading on Simplex will not be taken into account when calculating the required bonus turnover. Shall be taken solely into account is turnover completed while Trading on Forex.
- For clients using the Algo Third Party Trading Solution for Online Trading, the minimum count of lots required for each granted bonus credit shall be the amount of bonus credit itself divided by 3.
- At least one deposit of 250 USD/EUR/GBP is required to withdraw any bonus earnings.
- The bonus credit will be partially settled and converted into withdrawable funds instantly after closing each trade, regardless of its amount.
- Withdrawal requests are processed within Three (3) Business Days from receiving all required information from the customer.
- If the Customer’s trading account is inactive for more than Thirty (30) Days the bonus/bonuses may be removed from the account at the company’s discretion and if removed, it will return to the Company.
- When any form of bonus is received, completion of the bonus turnover requirements will have to be met, in order to perform any withdrawals. The company reserves the right to approve provisional withdrawals in accordance to the company policy at its discretion at any time. This will not affect the overall terms of withdrawal in other cases.
In the case that withdrawal of funds has been removed from the trading account, further trading transaction(s) that have taken place will result in the following actions:
- Any loss shall be held liable by the customer.
- Any revenue shall be deducted from the customer’s account.
In instances where the client will receive profits after his withdrawal process has been successfully executed, Markets.Online reserves the right to credit his bank account via Bank Wire Transfer. Please note that for a Bank Wire Transfer, the minimum amount that can be processed is 500.
If you have any questions about Markets.Online’s Bonus Terms and Conditions, please contact the Support team. One of Markets.Online’s customer service representatives will be happy to assist.
15. Complaint Policy
In the event of any disagreement towards the services provided by the Company or encounter any technical issue, account holders and clients are strongly advised to register the complaint as per the procedures listed below. The purpose of the procedure is to ensure fair and consistent complaint handling whilst striving to provide the highest level of customer service.
Customers are hereby required to provide Markets.Online with details the technical issue encountered or of the disagreement towards the services offered, in electronic form to be submitted to Markets.Online’s customer support department. For an enhanced speediness and efficiency in the handling of the claim, the following details are required:
- Customer’s name, account number and email address used to register
- Explicit details about the disagreement towards the services
- Evidence that sustains the complaint.
To ensure swift response and fair assessment of the claim, the user should provide the following:
- References of any correspondence between the company and the client.
- Time of availability and valid contact details for investigation purposes.
Upon receipt of the complaint, the relevant department will convene the concerned parties to investigate accordingly. The company records all telephonic conversation between Customer Service and the Complainant and keeps the recording for a period of 7 year.
Following the investigation conducted in due form, in case the user decides to terminate the contract, the latter will be required to follow the contract termination procedure established by Markets.Online.
All claims must be sent to Markets.Online support department. Company representatives may, when providing services to the Client and due to privacy rights, may use alias names.
Any resolution will be communicated via telephonic exchange along with an email confirming the approval of the agreed measures. Markets.Online may upon receipt of the complaint and depending on the complexity of the issue, decide at its sole discretion the temporarily freeze of trading activities of the trading account under investigation to preserve the current state of affairs, until a resolution is reached.
Should there still be any disagreement with the proposed resolution following the investigation, the client may send his/her grievances to the company’s Compliance Officer. The relevant contact details will be provided by Markets.Online’s Support Department upon request.
16. Dormant Account Policy
A Trading Account will be classified as dormant if it is inactive for a period 30 days or more (i.e. no trade has been placed for an extended period of time of 30 days or more). As such, the client is required to constantly monitor his trading activity in order to keep his account active.
To keep a trading account active, clients will be required to place at least 5 trades per month. The requirements for these 5 trades shall be the same as set out in Section 13.
In case a Trading Account has been inactive for more than 30 days, Markets.Online reserves the right to charge a 5% levy from the current account balance (Hereby referred to as the Dormant Account Fee) for every inactive month.
The responsibility of keeping a trading account active lies on the client and Markets.Online reserves the right to retroactively charge the Dormant Account Fee depending on its sole discretion.
If in case a client does not want to be subject to the above mentioned fee, then he must make an additional turnover which is equivalent to the Dormant Account Fee as prescribed by Markets.Online
For example a client’s Current Account Balance is USD 2500 and his account has been Inactive for a time period of 90 days.
The Calculation for the Dormant Account Fee will be as follows:
Current Account Balance: $2500
1st Month (30 days) 5% of $2500 = (5/100)*$2500 = $125
Fees deducted $125, therefore $2500-$125 = $2375
2nd Month (60 days) 5% of $2375 = (5/100)*$2375 = $118.75
Fees deducted $118.75, therefore $2375-$118.75 = $2256.25
3rd Month (90 days) 5% of $2256.25 = (5/100)*$2256.25 = $112.81
Fees deducted $112.81, therefore $2256.25-$112.81 = $2143.43
Total Fees deducted = $125+$118.75+$112.81 = $356.56
Account balance after 3 months = $2143.43
The Dormant Account Fee which will be deducted from the above mentioned account stands at USD $356.56. In case the client does not want the $356.56 to be deducted from his account, then he will be required to complete an additional turnover of USD $356.56.
In case a client is unable to place the required trades, he must inform Markets.Online of his situation and based on its sole discretion, Markets.Online may waive the dormant account fee.
17. Trading Competitions
Markets.Online regularly hosts trading competitions enabling traders to compete and win prizes. These competitions might be organized on a weekly/monthly/yearly basis, based on events. Prizes are mostly offered in terms of bonuses that are credited into the winners’ accounts. The bonuses are subject to the general bonus terms and conditions stated.
18. Limited Liability
Markets.Online is committed to ensure continuity of the Services on the Site. However, Markets.Online assume no responsibility for any error, omission, deletion, interruption, delay, defect, in operation or transmission, communications line failure, theft or destruction or unauthorized access or alteration of the Site or Services. Markets.Online decline responsibility for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, hardware or software, or any technical failure because of technical problems or traffic congestion on the internet, the Site or any Service.
To the extent permitted by applicable law, in no event shall Markets.Online be liable for any loss or damage arising from use of the Site or Services for any content posted on or through the Site or Services, or the conduct of all users of the Site or Services, whether online or offline.
IN NO EVENT, Markets.Online, OR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS, SHALL BE LIABLE FOR ANY DAMAGES WHATSOEVER TO YOU, INCLUDING, WITHOUT LIMITATION, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THE USE OF THE SITE OR THE SERVICES, INCLUDING WITHOUT LIMITATION, THE QUALITY OF THE USEFULNESS OF INFORMATION PROVIDED THROUGH OR AS PART OF THE SITE OR ANY INVESTMENT DECISION MAKING ON THE BASIS OF THE INFORMATION, WHETHER THE DAMAGES WERE PREDICTABLE OR NOT AND WHETHER OR NOT Markets.Online HAS BEEN ACQUAINTED WITH THE POSSIBILITY OF SUCH DAMAGES.
LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL THE Markets.Online CUMULATIVE LIABILITY GIVEN TO THE CLIENT, EXCEED THE AMOUNT OF MONEY THE CLIENT TRANSFERRED OR DEPOSITED IN HIS ACCOUNT ON THE SITE IN CONNECTION WITH THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
19. AML Procedures
Prohibited Uses: It is prohibited to abuse this Site for money laundering purposes.
Markets.Online employs best practices against anti-money laundering activities. Markets.Online reserves the right to refuse and to terminate any business relationship, and to cancel any operation of customers who do not comply with the requirements of anti-money laundering:
- Online traders should provide all information required for registration.
- The earnings will be paid to the person who first registered for an account online.
- hen a customer maintains an account through wire transfers, the gains will be distributed to the sole owner of the originating bank account. When the client make deposits in this way, it is the responsibility of the live trader to ensure that the trader’s account number and the registered name of the account owner accompany every transfer to Markets.Online.
- When the client funds his account using a credit card or debit card, the winnings will be distributed solely to the person whose name appears on the card used to make the deposit and will be reimbursed on the same card.
- Only one account is allowed per person. No gains can be levied on accounts opened under false names or multiple accounts opened by the same person.
- Markets.Online may, from time to time at its sole discretion, require from a customer to provide additional proof of identity such as a notarized copy of passport or other means of identity verification as deemed necessary and may, at its sole discretion, suspend an account until the required proof is provided.
20. Intellectual Property
Every content, trademark, service mark, trade name, logo and icon are the property of Markets.Online or its affiliates or agents and are protected by law and international treaties and provisions relating to copyright. The client agrees not to remove copyright notices or other indications of protected intellectual property rights of any material he printed or downloaded from the Site. The client will not obtain intellectual property rights, or any right or license to use such material or the Site, other than those set forth herein.
Images displayed on the Site are the property of Markets.Online. The client agrees not to upload, post, distribute or reproduce any information, software or other material protected by copyright or other intellectual property right (including rights of publicity and privacy) without first obtaining permission from the copyright owner and without prior written consent of Markets.Online.
21. Data Disclosure
Customer data and financial informations are treated with an absolute discretion and are therefore only available to a fraction of Markets.Online well trained staff and to the customer himself. The Company is not bound to provide any information to third parties unless by formal request from i) A recognized Court of Law, ii) recognized Governmental Institutions. Likewise, should a customer choose to entrust the power and control over his/her trading account to an accredited third party, a valid Power of Attorney will be mandatory. The company, at its own discretion, may refuse to comply with any instruction given on a customer’s trading by such accredited third party account and request to deal with the account holder directly, if the instruction warranted is not in the client’s best interest.
The client agrees to defend and indemnify Markets.Online 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 his access to and/or use of the Site or Services; violation of any of the terms in this Agreement; or breach of any applicable laws or regulations.
In the event that the client breaches this agreement and file a dispute which was later upheld by the appropriate body, the company reserves the right to impose a penalty fee representing 20% the disputed amount. The right to impose the dispute fee if and when required, will rely sole on the company’s discretion.
Upon agreeing to these terms and conditions, the client also agrees that any dispute he may have with the Company or anyone on its behalf, will be first brought by himself in his own capacity before the Company. Should the client opt to be represented against the Company, the Company may (a) first deal with him personally regardless of the representation; or (b) deduct all of its expenses for dealing with said representation from his account, in advance. If the client does not have sufficient money in his account to cover the Company’s costs and expenses, the Company may refuse to communicate with such third party acting on the client’s behalf.
23. Term And Termination
Without prejudice to the Company’s rights under this Agreement to terminate it immediately without prior notice to the Client, the Company may terminate this Agreement with immediate effect by giving at least seven Business Days Written Notice to the Client. The seven business days’ notice is only applicable for clients having clear all applicable conditions under the Company’s Withdrawal Policy and Bonus Policy. For Clients who have yet to clear all the applicable conditions aforementioned, a prior notice of at least 90 Days shall be required. The Client shall have the right to terminate this Agreement with immediate effect by giving at least seven Business Days Written Notice to the Company. The seven business days’ notice is only applicable for clients having clear all applicable conditions under the Company’s Withdrawal Policy and Bonus Policy. For Clients who have yet to clear all the applicable conditions aforementioned, a prior notice of at least 90 Days shall be required.
Termination by any Party will not affect any obligation which has already been incurred by either Party or any legal rights or obligations which may already have arisen under the Agreement or any Transactions made hereunder.
Upon termination of this Agreement, all amounts payable by the Client to the Company will become immediately due and payable including (but without limitation) all outstanding costs and any other amounts payable to the Company, any charges and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement.
Once notice of termination of this Agreement is sent and before the termination date:
(a) The Client will have an obligation close all his Open Positions. If he fails to do so, upon termination, the Company will close any Open Position at current prices;
(b) The Company will be entitled to cease granting the Client access to the Platform(s) or may limit the functionalities the Client is allowed to use on the Platform(s);
(c) The Company will be entitled to refuse to accept new Orders from the Client;
(d) (d) The Company will be entitled to refuse to the Client to withdraw money from the Trading Account and the Company reserves the right to keep Client’s funds as necessary to close positions which have already been opened and/or pay any pending obligations of the Client under the Agreement.
Upon Termination, any or all the following may apply:
(a) The Company has the right to combine any Client Accounts of the Client, to consolidate the Balances in such Client Accounts and to set off those Balances;
(b) The Company has the right to close the Trading Account(s);
(c) The Company has the right to convert any currency in the Trading Accounts;
(d) The Company has the right to close out the Client’s Open Positions;
(e) In absence of illegal activity or suspected illegal activity or fraud of the Client or instructions from the relevant authorities, if there is Balance in the Client’s favour, the Company will (after withholding such amounts that in the Company’s absolute discretion considers appropriate in respect of future liabilities) pay such Balance to the Client as soon as reasonably practicable and supply him with a statement showing how that Balance was arrived at and, where appropriate, instruct any Nominee or/and any Custodian to also pay any applicable amounts. Such funds shall be delivered to the client, in accordance to the his/her Instructions. It is understood that the Company will effectuate payments only to an account in the name of the Client.
The Company has the right to refuse, at its discretion, to effect thirty party payments. In the event that the Client fails to provide instructions or the Client cannot be reached at his/her last known address, the Company shall forward such funds (at its sole discretion) directly to his/her bank account as notified to Markets.Online or by way of a check sent by mail to the address recorded in his/her Registration Data. It is the Client’s responsibility to update his/her Registration Data, the company having no liability towards the Client for any lost money.
24. Practice Accounts
A practice trading account, also commonly referred to as a demo account, is a type of account offered by Markets.Online, which is funded with fake money (demo funds) that enables a customer to experiment with the web trading platform and its various features in a risk-free environment.
Markets.Online reserves the legal right, but is in no way required to offer practice accounts to new and regular Customers, to set the conditions of these accounts and / or change them without notice to the Customer.
Customers who want to request a practice account must be eligible for membership as described in Section 3.Membership Eligibility and comply to Markets.Online KYC procedures as described in Section 19. AML Procedures of Markets.Online’s general terms and conditions.
A practice account is valid for 30 days as from the activation date. After the 30 days period, the practice account will be deactivated.
Practice Account Trading Specifications and Conditions
While much of the functionality of the live web trading platform features in the practice account, Markets.Online does not guarantee that trading features and specifications for a live account and a practice accounts will be exactly the same at all times. In normal conditions, a practice account benefits from the trading account specification of a ‘Starter Account’ as described in Markets.Online account types. The trading specifications associated with each account type, including a demo account may be changed by Markets.Online from time to time.
25. General Clause
Markets.Online will not be liable in any way to any person 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.
Markets.Online may assign this Agreement or any rights and/or obligations hereunder without the client’s consent.
All the T&C and/or any agreement between the client and Markets.Online is subject to and according to the Transaction Authorisation Form
Markets.Online may amend the terms of this Agreement from time to time by posting the amended terms on its Site. The client is 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 the client does not agree to be bound by the changes to the terms and conditions of this Agreement, do not use or access Markets.Online’s Services and inform Markets.Online in writing immediately.
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