THE FOLLOWING Terms and Conditions apply to any person who has submitted the Account Application form and/or any person undertaking any transaction with 7ONLINE. It is important to make yourself aware of these and agree to them before using or accessing our website’s. (www.7Online.io).
The Client by accepting these Terms and Conditions consents to all the information as well as Services provided to you in English (including Marketing and other materials) unless you have chosen and/or accepted to receive information in one or more Languages.
www.7Online.io is operated and owned by . Corporate information regarding the Company can be viewed on the website.
The Client wishes 7Online to deal in over-the- counter financial products on their behalf under the Client’s instructions from time to time and following the Terms and Conditions. Further, the Client acknowledges and understands that 7Online is a market maker offering off market transactions.
This site permit’s the Clients to trade in Contract’s for Difference (CFD’s), arrangement made in financial derivatives’ trading whereby the differences in the settlement between opening and closing trades are settled.
In these Terms and Conditions unless the contrary intention is stated, the following terms shall mean: (and may be modified from time to time as dictated by amendments to legislation or regulations).
||Means the account as detailed in the CLIENT AGREEMENT of the Client dealing in the services offered by 7Online, under these Terms and Conditions.
||Means the account application form annexed to these Terms and Conditions and can also be downloaded from [https://7online.io/client-agreement/]. ‘Client Agreement’ shall refer to an Account
Application completed by the Client.
||Terms & Conditions
||Means this document (Terms and Conditions), the Client Agreement is incorporated herein as well as annexures to be added from time to time.
||Means the person authorised in the Client Agreement and bound as the Client under the Terms and Conditions.
||Contract for Difference
||A contract-for-difference (CFD) is a contract between a buyer and a seller. CFDs allow traders to trade assets on leverage without owning them. CFDs allow traders to profit
from the positive or negative movement of an asset by opening a long or short respectively.
||Site or Website
||referred to as ‘7Online’, ‘The Firm’, ‘The Company’, ‘us’, ‘we’ and ‘our’
||Refers to ‚Risk Disclosure Notice’ 7Online.io/Risk-Disclosure/
||Referred to as ‘you’, ‘your’, yourself
||Means ‚Negative Balance Protection‘
||Also referred to as Spread Bets or Spread Trading
||Shall mean the form of trading strategy through which the Client performs and tries to complete numerous transactions within a short time (for example up to two minutes)
or buying at Bid price and selling at Ask price, to gain the Bid/Ask difference.
||Means the day on which trading banks are open
||Close of Business
||Means the time at which the market exchange usually closes on any Business Day
||Means the date on which the client accepts the closing price,
||Means the notice given by one party to the other to close
||Means price determined at the time the company receives the Closing Notice
||Means about the closing price multiplied by the Contract Quantity
||Means any property (including security or other assets) deposited with the company by the client
||Means where a client is a trust, the trust identified in the Client Details form
||Means the registered document, referred to as the Deed which has been construed
3. CLIENT REPRESENTATIONS
i. The Client represents and warrants to the company, that:
- These Terms and Conditions constitutes a legal, valid and binding obligation;
- In executing and agreeing to these Terms and Conditions, the Client does not and will not act deliberately in contradiction of any provision – of this and any other agreements, nor any law or judgement/order which is binding on the client;
- Where the Client is more than one person, that all decisions made, and instructions issued according to these Terms and Conditions, are made on an informed basis agreed to by all parties;
- The Client is not an employee or close relative of an employee;
- All information supplied by the Client or may be requested from time to time will be accurate in all material respects;
- The Client will provide the Company on request such information regarding its financial and business affairs and identity, as may be required;
- In executing these Terms and Conditions, the Client appoints 7ONLINE as its agent to deal in financial Products;
- The Client is not insolvent, and if the Client is a Corporate client, no resolution or application or order has been brought for the Clients Sequestration or Liquidation or placed under administration or receivership or insolvency officials appointed to the Client for the preservation of assets;
- The Client warrants, it’s not a citizen or resident of a country or jurisdiction prohibited or is contrary to local Law or regulation to access this site.
- Client’s Capacity to enter into these Terms and Conditions:
- The Client is of legal age, authority and is lawfully permitted to enter into the Terms and Conditions, and the transactions contemplated by it, and perform its obligations;
- The person executing these Terms and Conditions has full power and authority to execute the Terms and Conditions on behalf of the Client, and bind the entity (whether individual, company, partnership or otherwise);
- Where the Client is a Trustee, Trust is duly constituted, Trust Deed executed, Client is a Trustee of the Trust, Resolution issued by the Trust granting authority the Trustee to act on its behalf, authority and explicit powers as well as authorises dealings in financial products;
- The Client warrants, there is no conflict of interest on the Client’s part in entering into these Terms and Conditions.
4. ACCOUNT ESTABLISHMENT
- The Company agrees to establish an account in the name of the Client, who is the natural person named as the Account Holder.
- Where the Client is more than one natural person, the account shall be established in their names jointly. All-natural persons party to this account are jointly and severally liable.
- No one except the Client has an interest in the Client’s account with the Company, opened under these terms and Conditions.
- The Client is provided with a user identification code, password or access security procedural information, which is confidential and must not be disclosed to a third party.
- The Company reserves the right to disable or suspend the account, if in its reasonable opinion, it suspects unauthorised activity or breach of the provisions of the Terms and Conditions.
- The Company is the owner, licensee of all intellectual property on the site as well as published, materials, database rights and trademarks – all subject to copyright. All rights are reserved and duplication or reproduction there-of is prohibited and in breach of these Terms and Conditions.
- The Client should not rely on the accuracy, relevance of the content on the site, which is intended for general information purposes – only. The Company does not provide any advice, market or financial and it’s the Client’s sole responsibility to obtain professional or specialist advice before taking action.
- The Company may amend these Terms & Conditions from time to time without notice of such amendments.
- In the event any provisions contained in these Terms & Conditions are found to be invalid or unenforceable, such provisions shall be deemed void, and the validity and enforceability of the remaining provisions shall continue.
- If either party fails to exercise or delays in exercising any right under these Terms & Conditions, by doing so, does not waive such right.
- The Client may not assign or otherwise transfer its rights or obligations under these Terms & Conditions or any transaction, without the express written consent of the Company.
- The parties agree to the electronic recording by either party of telephone or internet conversations as well as communications between the parties with or without an automatic tone warning device, and the use of such recordings as evidence by either party in any dispute or anticipated dispute between the parties or relating to dealings between the parties.
- The Client acknowledges and agrees that the Company is permitted to carry out an electronic database search and search credit reference agencies to verify the Client’s identity and credit standing. If such searches are carried out, the Company may keep records of the contents and results of such searches following all current and applicable laws.
- The Company reserves the right to collect such information as is necessary from the Client to meet its obligations under applicable Anti Money Laundering laws and regulations. The Company may pass on data collected from the Client and relating to transactions as required by applicable anti-money laundering laws and regulations and is under no obligation to inform the Client it has done so. The Company may undertake all such anti-money laundering checks concerning the Client (including restricted lists, blocked persons, politically exposed persons and countries lists) as deemed necessary.
- The Company reserves the right to provide all such information regarding the Client concerning its obligations to, or requests (whether legally binding or not) by a relevant regulatory body.
6. RISK DISCLOSURE NOTICE
i. SCOPE OF NOTICE
1. The Client represents and warrants to the Company that they have received, read, understood and accepted the risk disclosures provided herein (www.7Online.io/risk-disclosure/).
- The Company provides you with this ‚Risk Disclosure Notice‘ (the ‚Notice‘) to help you understand the risks that might arise when trading Contracts for Difference (‚CFDs‘) and/or Spread Positions. However, you need to bear in mind that the Notice does not contain all the risks and aspects involved in trading said instruments. The Client (referred to as the ‚Client‘, ‚you‘, ‚your‘ and ‚yourself‘) should carefully read the Notice in conjunction with the ‚Client Agreement‘, the ‚Order Execution Policy‘ and the documentation/ information available to you through our Website.
- You need to ensure that any decision to engage in trading CFDs and/or Spread Positions is made on an informed basis and considering your knowledge and experience as well as to your personal circumstances (including but not limited to your financial position). In addition, you need to ensure that you understand the nature of CFDs and Spread Positions, and the extent of all risks and aspects involved in trading these instruments.
- Please note that CFDs and Spread Positions are leveraged financial products and therefore as such, trading these instruments involves a high risk of loss as price movements are influenced by the amount of leverage the client is using. For example, if a client is using 30 times leverage a movement of 0.5% will result in a gain or a loss of 15%. Nonetheless, as a result of the ‚Negative Balance Protection‘ (‚NBP‘) you may not lose more than your initial investment.
- Trading CFDs and/or Spread Positions is not appropriate for all investors. Under no circumstances, you should risk more than you are prepared to lose.
- For any capitalised term, which has not been defined in the Notice, please refer to the ‚Client Agreement’.
2. The Client acknowledges that neither the Company nor any associated entity guarantees the performance of any given financial product or account nor that any financial product or account will achieve a particular rate of return.
ii) NATURE OF CFDs AND SPREAD POSITIONS
- CFDs are agreements to exchange the difference in value of an instrument or currency between the time at which the agreement is entered into and the time at which it is closed. CFDs allow the Firm’s Clients to replicate the economic effect of trading in financial instruments without requiring actual ownership of those assets; a full list of the CFDs on offer by the Company is available on our Website.
- Spread Positions are a type of contract whereby a Client can speculate on the price movement of a financial instrument by placing a buy or sell order which will pay out a pre-determined amount per point gained. This means that for every point that the price of the financial instrument moves in your favour, you will gain multiples of that pre-determined amount (also known as ’stake‘). Conversely, if the price of the financial instrument moves against you, you will lose multiples of the stake. Like with the case of CFDs, with Spread Positions you can replicate the economic effect of trading in financial instruments without owning the underlying assets.
- Profits derived from Spread’s may be free of capital gains tax and stamp duty. Tax laws are subject to change and depend on individual circumstances. You may wish to seek advice from a tax adviser if you are unsure of your circumstances.
- CFDs and Spread Positions are derivative products traded off-exchange (or Over-the-Counter (‚OTC‘)); this means the Company is always the counterparty to the Client trades and any CFD and/or Spread Position trades entered into with the Firm, can only be closed with us. Your ability to open and/or close trades is dependent on the availability of our trading platform(s).
- You understand that you are not entitled to the physical delivery of the underlying instrument (or reference instrument) of the CFDs and/or Spread Positions you are trading, and you have no rights in the underlying instrument (such as voting rights in case you are trading CFDs and/or Spread Positions on shares).
- CFDs and/or Spread Positions fluctuate in value during the day; the price movements of CFDs and/or Spread’s are determined by several factors including but not limited to availability of market information.
iii) PRICES AND COST
- The prices generated by our trading platform(s) are derived from the prices of the relevant underlying instruments, which the Firm obtains from third party liquidity/ price providers. The prices of CFDs and/or Spread Positions that you trade with us include a mark-up; this means that the spreads offered by us comprise of (i) the raw spreads received from liquidity/ price provider(s) and (ii) a mark-up (where applicable).
- For trading certain CFDs and/or Spread Positions, the Client may be required to pay a commission and/or other fees; these instances are described in detail in our Website. For all type of CFDs and/or Spread Positions offered by the Firm, the commission (if applicable) and financing/ overnight fees are not incorporated into the Firm’s quoted prices and are instead charged explicitly to the Client Account(s). In the case of financing/ overnight fees, the value of opened positions in some types of financial instruments is increased or reduced by a daily financing fee ’swap‘ throughout the life of the trade. The financing fees are based on prevailing market interest rates. From Mondays to Thursdays swap is charged once for every business day and on Fridays swap is charged in triple size in order to account for the weekend; details of daily financing/ overnight fees applied, are available in our Website.
- You should not fund your Account using money obtained from any credit facility (including bank loan or otherwise). You should understand that your overall risks will be significantly increased. For instance, if you incur a loss on your trades, you will still have to repay any amount borrowed plus any interest or other costs. Therefore, you shall never finance any trades on such borrowed money, and you should never rely on being able to profit on any trade, in order to repay such amounts.
iv) MARKET CONDITIONS, REQUIRED MARGIN, LEVERAGE AND STOP-OUT LEVELS
- Trading CFDs and Spread Positions enables you to use leverage to open a trade by depositing a fraction of the total trade value; this means that a relatively small market movement may lead to a proportionately much larger movement in the value of your trade. For margin calculation purposes, the leverage level used will be the lower of: (i) the Account or (ii) symbol traded. This logic applies on all our trading platforms.
- During the account opening process, the default leverage is set at 1:30. You reserve the right to request a higher leverage, but this will be at the discretion of the Firm and subject to the Client’s appropriateness assessment.
- Financial markets may fluctuate rapidly to reflect events that are outside the control of the Firm and/or your control; as a result, prices will become volatile. One form of price volatility is ‚gapping‘, which occurs when there is a sudden shift in prices from one level to another. This can be caused, for example by unexpected economic events or market announcements, within or outside trading hours. Consequently, the Company may be unable to execute your instructions at the requested price. In addition, if prices move against you, this will have a direct and real time impact on your trades, which may be automatically stopped-out. It is possible that all your trades will be stopped-out; not just the ones that are loss making.
- You should note that any changes made to your leverage level, on an already traded Account, can immediately affect your open positions and may result in a stop-out.
- It is your responsibility to monitor the required margin of your open positions and in order to avoid a stop-out you may have to fund your Account.
- For further information, please refer to the ‚Margin and Leverage‘ section of the ‚Order Execution Policy’.
v) FOREIGN EXCHANGE AND OTHER RELATED RISKS
- You will be impacted by foreign exchange movements, if you are trading in a product that is denominated in a currency other than the currency of your Account. Any currency conversion calculations are provided by the Firm to the Client in the currency in which the Client account is denominated and the currency of the relevant instrument, using the cross-spot rate.
- Your capacity to trade CFDs and Spread Positions may also be affected as a result of changes in the legal, regulatory, taxation environment and/or other.
vi) TECHNICAL RISKS
- We try to generate prices continuously and provide you with access to our trading platforms throughout the trading sessions as indicated on our Website. However, there are instances where this is not possible; for example, instances of poor telecommunication/ internet connectivity, system errors and outages and/or other factors. The above may cause prices to change between the time an order is placed and the time the order has been received by the Firm. In addition, these technical risks may significantly impact the execution of your orders.
vii) NO ADVICE
- The Company may, from time to time and as often as it seems appropriate, issue and/or distribute third party material (the ‚Material‘), which contains information including but not limited to the conditions of the financial markets, posted through our Website and other media and/or received by you. It should be noted that the Material is considered to be marketing communication only and does not contain, and should not be construed as containing, investment advice and/or an investment recommendation and/or, an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the Client following an assessment by him/herself of their situation. The Company makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any employee of the Company, a third party or otherwise. The Material is not prepared in accordance with legal requirements promoting the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. All expressions of opinion included in the Material are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of the Company.
- The Company does not provide investment, financial, legal, tax, regulatory or other advice relating to investments or trading in financial instruments. Any material or information or other features, which may be provided to you through our Website, trading platforms, marketing or training events or otherwise, is generic and shall not be treated as advice appropriate for you or based on a consideration of your personal circumstances. You should seek independent professional advice from a suitably qualified adviser, if necessary, prior to engaging in trading with us.
viii) PAST PERFORMANCE
- Past performance, simulation or prediction of any financial instruments does not constitute an indication of future results. You should note that the value of your investment can decrease (as well as increase) as the market price of the underlying asset may fluctuate downwards (or upwards).
7. CLIENT ACKNOWLEDGEMENTS
- The Company will deal or instruct third parties to deal on behalf of the Client, in the financial products;
- The Company may utilise the execution and settlement services of appropriately licensed third parties on behalf of the Client;
- Dealings in the financial products create an obligation to make adjustment under the terms of the relevant transaction from time to time;
- Where a financial product has no maturity date or defined term, open Contracts shall continue until such date as they are closed;
- All dealings executed on behalf of the Client under these Terms & Conditions shall be at the absolute discretion of the Company. In particular, the Company shall be entitled to take any action it considers necessary in its absolute discretion to ensure compliance with the operating rules and all other applicable laws and regulatory decisions;
- The Company may act as principal in respect of the financial products traded by the Firm on behalf of the Client regardless of whether the Firm is acting on Client instructions or not;
- The Client has been made specifically aware that in certain markets, the Company may act as a market maker and when so acting under normal market circumstances quote the Client bid and ask prices. The Company will only disclose that it is acting as a market maker in response to a written request from the Client to make such disclosure. The Client accepts that in such markets, the Company may hold positions that are contrary to the position of Clients resulting in potential conflicts of interest;
- Subject to applicable legal/regulatory requirements, the Client consents where the Company either knowingly or unknowingly takes the opposite side to the Client to any of the financial product transactions;
- Subject to applicable legal/regulatory requirements, the Client agrees and acknowledges that the Company’s directors, employees and associates may and can deal on their account;
- The Company reserves the right, at its sole discretion and without explanation, to refuse to deal on behalf of the Client in relation to any exchange-traded or over-the-counter financial products (other than closing out existing open positions held in the Company’s account on behalf of the Client) or to limit the number of open positions held on behalf of the Client or both. The Company will inform the Client of any refusal before or as soon as practicable after such refusal;
- The client has no rights, whether by way of subrogation or otherwise, against any person other than the Company.
- Where errors have occurred in price quotes provided or the pricing of transactions quoted by the Company to the Client, the Company reserves the right not to be bound by such a quote or transaction where the Company can substantiate to the Client that there was a material error at the time of the quote or transaction.
- Any benefit or right obtained by the Company upon registration over-the-counter financial products with a clearinghouse is personal to the Company, and such benefit or right shall not pass to the Client;
- In dealing in the financial products on behalf of the Client or for any other purpose under these Terms & Conditions, when the Company needs to buy/sell foreign currency from time to time, the applicable exchange rate shall the published foreign exchange rate selected by the Company in its sole discretion available on the date the Client’s money is exchanged;
- There are risks associated with utilising an Internet-based deal execution trading system which includes, but are not limited to, the failure of hardware, software, and Internet connection. Since the Company does not control signal power, its reception or routing via Internet, the configuration of your equipment or reliability of its connection, the Company will not be responsible for communication failures, distortions or delays when trading via the Internet;
- The Company is entitled, in its reasonable opinion, to determine that an emergency of an exceptional market condition exists. Such conditions include, but are not limited to, the suspension or closure of any market or the abandonment or failure of any event to which the Company relates its quote or the occurrence of an excessive movement in the level of any margin trade and/or underlying market or the Company’s reasonable anticipation of the occurrence of such a movement. In such cases the Company may increase its margin requirements, close any or all of the Client’s open margin trades and/or suspend or modify the application of all or any of the terms, including but not limited to, altering the last time for trading a particular margin trade, to the extent that the condition makes it impossible or impracticable for the Company to comply with the term in question.
- If the Company notices any Scalping activity or other high-speed trading activity, the Client trading account will be disabled without prior notice. Moreover, the Company reserves the right to cancel and delete any transaction/pending orders executed with the scalping account;
- The Company may act as principal in respect of the financial products traded by the Company on behalf of the Client regardless of whether the Company is acting on Client instructions or not;
- Risk committee will work to allow fair trading and to identify abuse and scalping, especially in VIP accounts which allow the client a low commissions trading account;
- The Company is permitted to do anything under these Terms & Conditions, at its absolute discretion to protect its interests.
8. COMPANY REPRESENTATIONS & SERVICE
- The Company seeks to act honestly, exercise due care and diligence and work in the Client’s best interests at all times. The Company will give priority to Client interests and undertakes that it will not misuse Client information.
- The Company will use reasonable endeavours to execute or arrange the execution of the Client’s instructions.
- Unless otherwise expressly agreed, the Company will provide services on an execution only basis following the Client’s instructions and will not advise the Client regarding the merits of a transaction.
- Any transaction or market information or research provided by the Company to the Client is provided as general information only and does not constitute a recommendation to trade. The Company makes no representation, warranty or guarantee, and accepts no liability for, the accuracy or completeness of any such information, and the Client relies on such at its sole risk.
9. ONLINE TRADING FACILITY
- The Client acknowledges that it has read, understood and agreed to the terms and conditions associated with dealing via our online trading facility as set out in these Terms & Conditions.
- The Company may amend or replace these Terms & Conditions from time to time. Amended or replaced Terms & Conditions will be posted on 7Online.io and will be effective immediately upon posting. The Client is responsible for ensuring they are familiar with the latest Terms & Conditions and the Client agrees to be bound by the Terms & Conditions as amended or replaced.
- The Company agrees to grant the Client access through the Client’s Internet browser, for the electronic transmission of orders to the Client’s account with the Company.
- The Company shall permit the Client electronically to monitor the activity and positions in its account by providing an online trading facility.
- The online trading facility provided by the Company may be used to transmit, receive and confirm the execution of orders, subject to market conditions and applicable operating rules and regulations. Regardless of any online confirmation received upon placement of an instruction via the online trading facility, such transaction will be confirmed by the Company at its discretion.
- The Company consents to the Client’s access and uses in reliance upon the Client having adopted procedures to prevent unauthorised access to and use of the online trading facility, in any event, the Client agrees to any financial liability for trades executed through the online trading facility.
- The Client may send and receive email messages and otherwise use the online trading facility as permitted under these Terms & Conditions, our policies and any applicable laws.
- The Company reserves the right, in its sole discretion, to institute or change any policies at any time relating to the use of the online trading facility.
- The online trading facility is on an “as–is” basis and the Company makes no express or implied representations or warranties to the Client regarding its operation or usability.
- The Company makes no representations or warranties regarding any services provided by any third party.
- The Company offers real-time tradable prices to the Client. Due to delayed transmission between the Client and the Company, the price provided may have changed before the Company receives an order from the Client. If automatic order execution offered to the Client, the Company should be entitled to change the price on which the Client’s order is executed to the market value at the time which the request from the Client was received.
- The Company does not warrant that access to or use of the online trading facility will be uninterrupted or error-free, or that the service will meet any particular criteria, performance or quality.
- Under no circumstances, including negligence, will the Company, its employees and service providers be liable for any direct, indirect, incidental, special or consequential damages including, without limitation, business interruption or loss of profits, that may result from the use of or inability to use the online trading facility. Where liability cannot be excluded, the Company’s liability shall be limited to an amount equal to the number of fees paid to the Company by the Client for the use of the online trading facility.
- The Client agrees not to hold the Company and any of its service providers liable for any form of damage arising as a result of the unavailability of the online trading facility.
- The Client agrees that the use of the online trading facility is at the Client’s risk and the Client assumes full responsibility for any losses resulting from the use of or materials obtained via the online trading facility.
- The Company, its directors, officers, employees, agents, contractors, affiliates, third-party vendors, information providers, and other suppliers providing information or data services do not warrant that the online trading facility will be uninterrupted or error-free nor do we or they make any warranty as to the timeliness, sequence, accuracy, completeness, reliability or content of any information, service or transaction provided through the use of the online trading facility or the results obtained from its use.
- The use and storage of any information provided or made available to the Client using the online trading facility are for the Client and is the Client’s sole risk and responsibility.
- The Client is responsible for providing and maintaining the communications equipment and telephone or alternative services required for accessing and using the online trading facility, and for all communications service fees incurred by the Client in accessing the online trading facility.
- The Company may at any time at its sole discretion terminate or restrict any Client’s access to the online trading facility at any time. Should the Company terminate these Terms & Conditions or access to the trading platform, the Client will be liable for all fees charges and obligations incurred under these Terms & Conditions before termination.
- The Client acknowledges that from time to time, and for any reason, the online trading facility may not be operational or otherwise available for the Client’s use due to servicing, hardware malfunction, software defect, service or transmission interruption or other cause.
- The Client’s failure to observe any of the undertakings or representations may result in civil or criminal liability, as well as the termination of the use of the online trading facility.
- The Client acknowledges that the Client always has alternative arrangements in place, for the transmission and execution of orders, if for any reason, circumstances prevent the communication and performance of all, or any portion of, the Client’s requests through the online trading facility
- The Client may not under any circumstance use the online trading facility to do any of the following:
- publish, post, distribute or disseminate defamatory, infringing, obscene or other unlawful or offensive material or information;
- intercept or attempt to intercept any email correspondence;
- use the online trading facility in any manner that may adversely affect its availability or its resources to other users;
- send mail electronically or otherwise to other users for any purpose other than personal communication; or
- act, or fail to act in a manner which may result in the violation of any laws or regulations.
- To provide the Client with these services, the Company needs to collect personal information about the Client and obtain the Client’s agreement concerning the handling of such personal information. If the Client does not provide the requested information or agree to the information handling practices detailed in these Terms & Conditions, the Company may be unable to provide the services outlined in these Terms & Conditions to the Client.
- The Client shall ensure that all information provided to the Company is always accurate and up to date. Any changes must be advised to the Company as soon as practicable. (Proof of residence provided every 4 months)
- The Company have systems and processes in place to address privacy requirements and can provide the Client with a Privacy Statement should the Client require further information about the Company’s information handling practices.
- The Client authorises the Company to collect, use, store or otherwise process any personal information which enables the Company to provide and improve its services. This may, on occasion, require the disclosure of personal information to our related entities, agents and service providers, and to organisations located in countries which do not have comparable laws to protect the Client’s information.
- The Company complies with the latest European Union (EU) and European Economic Area (EEA) law on data protection as well as privacy for all its citizens, under the General Data Protection (GDPR) Regulation (EU) 2016/679.
- The Client will indemnify and keep indemnified the Company and its employees, contractors or agents from and against any cost, expense, claim, action, suit, loss, damage or other amounts whatsoever arising out of any default, whether by act or omission, of the Client under these Terms & Conditions or anything lawfully done by the Company in accordance with these Terms & Conditions or by reason of the Company complying with any direction, request or requirement of an exchange or its clearinghouse or other regulatory authority.
- The Company shall not be responsible or liable in any way for any delay or error in the transmission or execution of any dealing by it under these Terms & Conditions caused by the Client or any other third party, including but not limited to trading floor or exchange system operational failure or action, bank delay, postal delay, failure or delay of any fax or electronic transmission or suspension caused by accident, emergency or act of God.
- The Company provides no warranty concerning information or advice sourced from third parties, and all information provided by the Company to the Client, which is for the Clients private use and is not to be communicated to any third party without the prior written consent of the Company.
- The Company makes no representation or warranty as to the results of dealing in the financial products, and shall not be liable for any damage or loss suffered or incurred by the Client arising out of or in connection with any third party advice, forecast, or opinion to the Client in relation to price movements or positions or to the potential profitability of any transaction.
- These indemnities shall survive the termination of the Client – Company relationship.
12. LIMITATION of LIABILITY
- The Client declares it has read, understood and accepted all the terms and conditions outlined in these Terms & Conditions. The Client agrees that when entering into a financial product transaction with the Company the Client is relying on its judgment and, to the extent permitted by law, in the absence of negligence, fraud or dishonesty by the Company or any of its employees, agents and representatives in relation to the Company’s activities, the Company shall bear no responsibility or liability of any kind whatsoever with respect to any advice or recommendation given or views expressed to the Client, whether or not the information, guidance, or opinions expressed was as a result of a request by the Client, nor will the Company be liable in any respect of any losses incurred by the Client resulting from dealing in any product or products offered by the Company.
- The Company will bear no liability whatsoever in respect of any private dealings, contracts, transactions or relationships between the Client and any of the Company’s employees or agents.
- The Company shall bear no liability whatsoever in respect of any impact on the Client caused directly or indirectly by the issuance of any instructions by the Client to the Company.
- In the absence of negligence, fraud, dishonesty or misconduct by the Company or any of its employees, agents and representatives and to the full extent of the law, the Company bears no responsibility or liability for any Client’s losses or damages whatsoever incurred as a result of any delay in transmitting or a failure to transfer funds caused by reasons outside the control of the Company or as a result of the Company’s inability to execute orders in a timely manner or administer these Terms & Conditions in the manner contemplated by these Terms & Conditions for reasons beyond its control and, without limiting the indemnity in clause “Indemnity”, the Client indemnifies and agrees to keep the Company and its employees, agents and representatives indemnified and against all sums of money, actions, proceedings, suits, claims, demands, damages, costs, expenses and other amounts whatsoever arising in respect of any such loss or damage. Reasons outside the Company’s control may include but are not limited to, exchange control or other government restrictions, exchange or market rulings, suspension of trading, power failure, telecommunication failure, strikes or war.
- The Company will not be liable for any losses or damages arising from or in connection with any Contract for Difference (CFD) as the result of any moratorium, suspension or delisting of any Underlying Security or any other occurrence whatsoever.
- All such available exemptions and limitations of liability shall apply in respect of the Company’s employees, officers, agents and representatives.
13. DISPUTE RESOLUTION
If a dispute arises between the Company and the Client relating to any transaction (a “Disputed Transaction”), the Company may closeout or take any other action it considers appropriate concerning the Disputed Transaction without previously notifying and without having received instruction from the Client. The Company will inform the Client by electronic mail or telephonically (at the Company’s sole discretion) what action it has taken, as soon afterwards as it practically can, but if it does not, the validity of its action shall not be affected.
- These Terms & Conditions can be terminated at any time, by either party giving 10 Business Days written notice to the other party.
- Unless otherwise agreed in writing between the parties upon termination of these Terms & Conditions the Company will give effect and close out all of the Client’s over-the-counter financial product transactions and will close out, abandon or exercise any option not yet exercised, at the Company’s discretion.
- Should any event occur which has the effect of making or declaring it unlawful or impracticable for the Company to offer services to the Client under the terms outlined in these Terms & Conditions, the Company may immediately terminate these Terms & Conditions by providing the Client with written notice.
- In the event of these Terms & Conditions being terminated, a Closing Notice must be provided by the Client in respect of all open positions. Such notice must be delivered within 5 Business Days of the termination date. Should the Client fail to unwind any open CFD positions within the 5 Business Day notice period, The Company reserves the right to close out the CFD positions as if a Default Event had occurred under these Terms & Conditions.
- Termination of these Terms & Conditions and/or any Contract or agreement shall not release either party from any existing obligations or from any liabilities the Client may be indebted to the Company in accordance with these Terms & Conditions prior to its termination.
- Rights under these Terms & Conditions can only be waived in writing, such waiver will not to affect the waiving party’s rights in respect of subsequent breaches of these Terms & Conditions or any failure to compel performance shall not be construed as a waiver.
- If these Terms & Conditions are terminated, the Client acknowledges and agrees that all open positions must be closed within five business days of the date of termination
15. GOVERNING LAW
These Terms & Conditions are governed by and construed under the laws of Commonwealth of Dominica, and the parties submit to the non-exclusive jurisdiction of the courts and tribunals of Commonwealth of Dominica.
18. WEBSITE – GENERAL DATA PROTECTION REGULATION (GDPR) – (7Online.io)