Otetmarkets.com is the official website of Otet Group Ltd. company hereinafter referred to as the Company). Any reference to ‘us’, ‘our‘, ‘we’ or the Company in this document is a reference to Otet Group Ltd. company as the context requires unless otherwise stated.
Your access to and use of this website is subject to these terms and conditions, our Client Agreement, and any notices, disclaimers or other terms and conditions or other statements contained on this website (referred to collectively as ‘Terms and Conditions’).
By using this website, you agree to be subject to the Terms and Conditions.
The information contained on this website is not guaranteed, is strictly for information purposes only and subject to change without notice.
Although this material is based upon information that the Company considers reliable and endeavours to keep current, it does not warrant that the information or materials are current or accurate at all times and it should not be relied upon as such. To the extent permitted by law, the Company does not accept any responsibility arising in any way from errors in, or omissions from, this information.
The products and services described on the website vary from time to time and may not always be available or may be restricted.
The content should not be construed in any way as a recommendation or investment advice.
You are advised that Chat and Instant Messaging conversations are recorded and may be used for compliance or training purposes.
Conversations on Chat or through Instant Messaging is for your general information only and The Company is not soliciting any action based upon it. It does not take into account the particular investment objectives, financial situation or needs of individual clients. Before acting on any information in any Chat or Instant Message, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice.
Your use of this Web site may be monitored by the Company, and the resultant information may be used by the Company for its internal business purposes.
The material on this website has been prepared for informational purposes only without regard to any particular user’s investment objectives, financial situation, or means, and the Company is not soliciting any action based upon it.
Provision of the information on this website does not constitute nor should it be considered a recommendation that you enter into a particular transaction nor a representation that any product described on this website is suitable or appropriate for you.
You should neither construe any of the material contained in the website as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice nor make its content the primary basis for any investment decisions made by or on behalf of you.
You are advised to consult your personal financial adviser, attorney, and tax and accounting advisors concerning any contemplated transactions.
Many of the products described on this website involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you.
Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned.
The Company’s Risk Disclosure agreement contains a Risk Statement and should be considered prior to conducting transactions.
Our salespeople, traders and other professionals may provide oral or written market commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions of the Company generally, and our proprietary trading and investing businesses may make investment decisions that are inconsistent with the views expressed.
This material is therefore not independent from our proprietary interests, which may conflict with your interests.
We and our officers, directors, and employees, including persons involved in the preparation or issuance of this material, may from time to time have “long” or “short” positions in, act as principal in, and buy or sell the financial instruments, and act as market maker. This may result in a conflict between the interests of the Company and those of our clients.
This material is not to be construed as a recommendation; or an offer to acquire, buy or sell; or the solicitation of an offer to acquire, buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal.
There are legal requirements in various countries which may restrict the information which we are lawfully permitted to provide to you.
You must be over 18 years of age to use the services of the Company.
Except where necessary in order to view the information on this website on your browser, or as permitted under the applicable law or these Terms and Conditions, no information or content on this website may be reproduced, adapted, uploaded to a third party, linked to, framed, performed in public, distributed or transmitted in any form by any process without our specific written consent.
You acknowledge that the Company shall be entitled to require you to remove any link from another website to this website which you install without obtaining The Company’s prior written consent.
Any third-party intellectual property used by us in the content of our website should not be interpreted as meaning that the third-party owner sponsors, endorses or is in any way affiliated with us or with our business, nor that they make any representation regarding the advisability of using our products.
This website may contain materials produced by third parties or links to other websites. Such materials and websites are provided by third parties and are not under the Company’s direct control.
The Company provides such links solely as a convenience to you. Accordingly, the Company makes no representations concerning the content of the Sites. The fact that the Company has provided a link to the Site does not constitute an endorsement, authorisation, sponsorship, or affiliation by the Company with respect to the Site, its owners, or its providers.
The Company has not tested any information, software, or products found on any of the Sites and therefore does not make any representations regarding the content or sponsors of the Site, or the suitability or appropriateness of the products or transactions described therein.
The Company accepts no responsibility or liability in respect of any such third-party materials or for the operation or content of other website, products or services.
The Company is not liable for any damages including, without limitation, damage to your computer or computer system or settings, loss of data, revenue or profits, which you may suffer arising out of your use, delay in using, or inability to access this website, or in any other way connected with this website, including from the downloading of any software from this website. The Company disclaims any representation or warranty that the website or materials will meet your requirement or that the website or any software will be uninterrupted, secure or free from errors or viruses.
Abnormal market conditions mean Fast market.
Account history means a list of completed transactions and non-trading operations on the Client’s account.
Account type means the terms of the trading account. The types of accounts offered by broker are listed on the Trading Terms web page. The Client cannot change the type of account once it has been created.
Affiliated accounts are the trading accounts opened by affiliated persons noticed by the use (but not limited to) of the same identification details, payment or network details (accounts managed from one IP address, or/and with the same cid are deemed as a single trading account).
Affiliated persons are the individuals, whose relationships can impact on the terms or financial results of the Company's activity. Affiliated persons can be deemed as such if their passport details, address, phone number, email address, IP address, cid, payment details etc are the same.
Ask means the higher price in the quotation; the price the Client can buy.
Balance means the total financial result of all completed transactions and depositing/withdrawal operations (except for credit operations) on the trading account.
Bar/Candle means a feature of a price chart that shows the opening and closing prices, as well as the lowest and highest prices for a definite period of time (for example, 1 minute, 5 minutes, a day, a week).
Base currency means the first currency in a currency pair or the currency in which the asset, underlying the Contract for Difference (CFD), is nominated.
Bid means the lower price in the quotation; the price the Client can sell at.
CFD (Contract for Difference) means a contract, which is a contract for difference by reference to fluctuation in the price of the underlying asset (shares, futures, metals, indices etc.)
Clearing means non-cash settlement between Company and its contractors, banks and liquidity providers implemented through mutual settlement based on the terms of cooperation. When clearing is conducted, no quotations are present on trading server, (non)-trading operations are prohibited.
Client agreement means the agreement between the Company and the Client, which together with the Regulations on Trading Operations, Regulations on Non-Trading Operations, Risk Disclosure statement govern the terms by which the Company works with the Client.
Client means a legal entity or individual who works with the Company through agreements that involve margin transactions.
Client's e-mail - e-mail address specified in the Client's Personal account (myfreshforex.com). Requests sent from other email addresses will not be considered by the Company.
Client terminal log-file means the file created by the client terminal which records all Client requests and instructions to the Dealer with accuracy to the second.
Client terminal means the software product which is used by the Client to get information on trading in financial markets (in the volume determined by Company) in a real-time mode, conduct technical analysis of markets, implement transactions, send/edit/cancel orders as well as to receive information messages from Company. Price charts in the terminal are built on the basis of Bid prices. The program can be downloaded on the Company’s website.
Closed position means a result of covering an opened position by the opposite position. As a result of closing of a position the Company has an obligation to fix floating profit/loss on balance of the Client.
Company is legal entity, which provides services in accordance with the Client Agreement and its annexes.
Company's website is the website of the Company located online at https://www.otetmarkets.com.
Contract specifications mean the primary trading conditions (spread, lot size, the minimum volume of a transaction, swaps, initial margin, etc.) for every financial instrument. For more information about trading conditions go to the Client terminal.
Contractors and partners of the Company are liquidity providers, banks, brokers and other organizations the Company cooperates with.
Conversion arbitrage operations mean transactions between the Company and the Client concerning buying or selling currency contracts or CFD.
Currency of account means funds or underlying asset in which the sum amount of all trading and non-trading operations are nominated and calculated including floating profit and loss, commission payments, marginal requirements. Currency of account can be USA Dollars (USD), Euro (EUR) and other currencies specified in the website of the company. Currency of account is selected when trading account is opened and cannot be changed in the future. Currency means the object of transaction based on the change in the value of one currency against the other.
Demo account - a training trading account with virtual funds provided by the Company, designed for trading without using real money. This account will not be taken into account in the Personal account, withdrawal and transfer to other accounts cannot be made.
Dispute means 1) a conflict arising when the Client believes that the Company, as a result of any action or failure to act has breached one or more of the Terms of Business; 2) the Company believes that the Client as a result of any action or failure to act has breached one or more of the Terms of Business; 3) when the Client makes a trade on an error quote (spike), or before the first quote comes to the Trading Platform at market opening, or on a quote received by the Client due to manifest error on the part of the Company or software failure on the Trading Platform.
Dynamic password means a code intended for withdrawal of funds from the Client’s trading account. The dynamic password is sent as SMS to the Client’s mobile phone number specified by the account registration. All withdrawal requests from trading account that are not confirmed by a dynamic password shall be automatically rejected.
Equity means a provided part of the Client’s account with regard to open positions; equity is calculated as follows: Balance + Floating Profit/Loss + Swap. These are assets on the Client’s account reduced by the current loss with regard to the open positions and enlarged by the current profit with regard to the open positions.
Expert advisor, Mechanical Trading System means an algorithm for managing the trading account in the form of program written in a specialized Meta Quotes language which automatically directs requests and orders to the server, using the Client’s terminal. Client bears the full responsibility for actions done by the Expert Advisor.
Explicit error means either the execution (processing) of an order on the quote which does not correspond with an actual average price level at the time of the implementation of such an operation, or the execution in contradiction to the Company's regulation documents and/or common business practice.
Fast market means a market characterized by rapid price fluctuations over a short period of time often causing price gaps. A fast market may occur immediately before or after important events such as: a) Release of influential macroeconomic indicators for the global economy;
Feed means quotes on each instrument entering the trading platform.
Financial instruments mean currency pairs and CFD contracts available for trading.
Financial result is a profit or loss, formed based on Client’s trading operations together with all swaps and commissions. When opening a transaction, it will be considered in the Equity, when closing a transaction, it will be considered in Balance.
Fixed spread implies permanent difference between Bid and Ask of financial instrument. The majority of assets have fixed spread.
Floating profit/loss means floating (unrealized) profit (loss) with regard to open positions at the current quotes.
Floating spread implies dynamic (changes over the time) difference between Bid and Ask of financial asset. The majority of assets have floating spread.
Force majeure means unforeseen and unpreventable events such as: a) nature disaster; b) war; c) terrorist attack; d) Acts of government; e) hackers' attacks and other illegal actions against the Company.
Free margin means equity not employed in the opening of a position and can be used for new positions. Free margin is calculated as follows: Free Margin = Equity – Margin.
Calculation of free margin for new positions is based on the formula:
Freeze level means the range of points in each side of the price declared by customer at which the order must be executed (opening prices of the pending order, stop-loss or take profit prices of the open position). If the current market price is in the established range, then order may be banned, changed deleted or closed. During the main time trading is usually performed without order freeze levels, but when sharp price changes of financial instruments are happened (after the issuance of fundamental data, interventions in illiquid market etc.), the company has right to set freeze levels up to 3 standard spreads.
Gap (price range) means a situation when the current quote differs from the previous one in more than a spread size. It may occur both within a trading session on publication of relevant macroeconomic data, economic and political news or in case of force majeure events and at the market opening after weekends and holidays.
Hedged margin means the margin required by the Company to maintain locked positions. The details for each instrument are specified in the contract specifications on the Company's website and in its trading server.
The margin is taken for each covered lot based on the value specified in “Hedging” field in properties of the instruments. If initial margin is set for the contract, hedged margin has the money expression.
Inactive account is an account, on which there no operations are initiated by the Client for more than 30 (thirty) calendar days (deposits, withdrawals, trading operations).
Instrument means currency pair or Contract for Difference.
Internal exchange rates of the Company — quotes (prices), at which the Company converts funds or assets of Clients during the execution of non-trading operations. Internal exchange rates are set at the discretion of the Company and may be changed at any time without notifying the Clients, depending on the market situation, market volatility and other external and internal factors. Up-to-date rates are published in the Client area and include:
Internal exchange rate on depositing (crediting) is used for conversion funds or assets sent from the Client’s
payment details, when crediting funds to the Client’s account in the Company.
Internal exchange rate on withdrawal is used for conversion funds or assets sent from the Client’s account in the Company to the Client’s payment details.
Internal exchange rate on transfers is used for conversion funds or assets when transferring funds between accounts in the Company denominated in different currencies.
Interdependent accounts (Interdependent Personal Areas) - trading accounts (Personal Areas) opened by the interdependent individuals, including but not limited to the intersection of identity, payment and network data of the Partner and the Client (accounts trading from the same IP address and/or with the same CID are regarded as one active account), opening of oppositely directed trades on the same or correlated instruments.
Interdependent individuals - individuals whose inner relationships can impact on the financial condition or financial results of the Partner and the Company.
Labor hours of the Company means a time interval within a working week, when the trading terminal of the Company provides transacting with standard currency contracts as well as with standard CFD contracts, except weekends and holidays, temporary changes of the internal service of the Company and a period of time when services cannot be provided to the Clients for some technical reasons. In such cases, the Company is obliged to take measures to inform the Client on the changes concerning the routine of work and give the chance to the Client to eliminate the currency risks appearing as a result of the foresaid.
Leverage means ratio between the transaction volume (in terms of currency) and the margin. The leverage 1:100 means that the Client needs a sum in 100 times less than it is needed to open a position.
Liquidity provider – partner of the company: broker, bank or ECN providing streaming quotes and used by
the company to hedge clients’ trades.
Limit & Stop Levels are the minimal distance in points from the Open level to current prices, works for all types of orders: Stop Loss, Take Profit, Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit.
Locked (covered) positions mean long and short positions of the same size opened on the same trading account with regard to the same instrument.
Long position (Buy) means market liability, the number of bought contracts on financial instrument expecting rise in quotation. With regard to currency pairs: buying the base currency for the quoted one with regard to CFD: buying base asset CFD for quoted currency.
Lot, Lot Size means a conditional indication of the number of base currency, shares or basis asset as defined for financial instrument.
Lot size (contract size) means a measure unit of the trade volume (for example, 1.00 lot = 100,000 base currencies), it's specified on the Company's Trading Server and in the Contracts specification on the Company's website.
Margin means the money security required to open and maintain trading positions.
In general case, margin for Client account is the sum of margin requirements on all open positions with the exception of covered (hedged or locked) positions. Covered positions are the positions opened for one contract in opposite directions. Margin is different for various financial instruments and its level is specified in trading server of the Company. Client does not show it in properties of contracts. Margin for each contract (instrument) is specified on the Company's website.
Margin call means a warning that informs a trader on insufficient funds required for maintaining open positions which, in some cases, can lead to closing positions without notification to the Client. Occurs when Margin level is equal or less than Margin call, which is specified in the section "Trading conditions" on the company's website.
Margin level is the key level of account characterizing if the funds on trading account are enough to maintain open traders. It is calculated based on the formula: Margin level = Equity/Margin * 100%. If Margin level falls below allowed level set by the Trading Procedures, Stop Out Occurs.
Market order is the trading instruction of Client to Company to Open/Close of financial instrument based on current price.
Market price available means a quote at which a liquidity provider executes the Client’s order. The Company cannot guarantee the execution of the order at a price better than the price offered by a liquidity provider. The accuracy of quotations is determined by the Company, at its sole discretion.
Margin trading means leverage trading when the Customer may make transactions having far less funds on his trading account.
Market opening means the time when the market opens after weekends, holidays or trading session time gaps.
Non-trading operation means deposit/withdrawal of funds or providing/return of a bonus or a credit.
Normal market conditions mean: a) no considerable breaks in the flow of quotes; b) low volatility; c) no large price gaps.
Open position means market liability, number of bought and sold contracts on financial instrument not covered by the opposite buy (sell) of the contract. In this case the Client shall be obliged to maintain equity not lower than pointed in Regulations on Trading Operations.
Order level means the price specified in the order.
Order means the Client’s instruction to the Company to buy or sell a financial instrument. There are two types of orders: market order and pending order.
Pending order means a request from the Client to the Dealer to carry out an order (open or close position, place an order) once the price reaches the level of the pending order. The Client may place pending orders of the following types: Stop Loss, Take Profit, Buy Stop, Sell Stop, Buy Limit, Sell Limit, Buy Stop Limit, and Sell Stop Limit.
Personal area means the Client’s personal web-page where the Client’s contact details are specified as well as deposit/withdrawal requests and feedback to the Company are carried out.
Photo ID means high quality photo of the Client holding his/her identification document. Face of the Client and his/her identification document should be clear and well visible. Graphical editor usage for adjustment of the photo is prohibited.
Point (Pip) means a minimal change of the instrument rate.
Position means market liability, number of bought and sold contracts on financial instrument.
Promotion account (account that is a part of promo) - a special trading account where trading is done with money given by the Company. The Company's money and money received as a result of trading operations on the promotion account shall be used in accordance with the terms of promo activated.
Quote currency means the second currency in the currency pair which can be bought or sold by the Customer for the base currency.
Quote means the price of one currency quoted in terms of another (Bid/Ask).
Quotes base means information about the stream of quotes.
Quoting means the process of providing the Client with quotes.
Rate means 1) for the currency pair: the value of the base currency in the terms of the quote currency; 2) for CFD: the value of the unit of the underlying asset in terms of money.
Request means Client’s order to the Company given to obtain a quote. Client is not obliged to implement a transaction on making such a request.
Server log means a file where the server protocols all requests and orders received from the Client as well as the result of their processing with a pinpoint accuracy.
Short position (Sell) means market liability, number of sold contracts on financial instrument held with the expectation of the asset falling in value. In currency trading it means buying the quote currency and selling the base currency. As applied to the Contracts for Difference: selling the base asset CFD for quoted currency.
Specification of contracts – are the main trading terms (trading schedule, lot volume, minimum volume, margin, spread, minimum levels, swap etc.) for each financial instrument. A full specification of contracts is represented on the website of Company.
Spike means an error quote with the following characteristics: a significant price gap; in a short period of time the price rebounds with a price gap; before it appears, there is no rapid price movements. Company has a right to remove non-market quote from the quote base of the trading server.
Spread means the difference between the buying rate and the selling rate of a currency pair or a CFD contract at the present moment.
Stop out means an automatic trade server's command to close one or more open positions without any prior notification to the Client. Occurs due to insufficient funds required for maintaining open positions in trader's account when Margin level is equal or less than Stop out level, which is specified in the section "Trading conditions" on the company's website.
Swap (Rollover) means the amounts charged off or credited to the Client’s account for the position prolongation (transfer) to the next day. Calculation and fixing of swaps occur at the last moment trading days on server time (from 23:59 till). Swap sizes are determined in the contract specifications on the web-site of the Company.
Telephone password (Code word) means an additional password of the Client, which is used without fail when executing transactions by telephone.
Ticket means the unique identity number assigned to each trading and non-trading operation.
Trade means buying or selling a financial instrument. Buy operation is carried out at Ask price, and Sell operation is carried out at Bid price. A trade may be executed as a result of market order or pending order.
Trading account means the special personal account opened by the Client with the Company where the obligations between the Company and the Client are conducted which arise from the trading and non-trading operations made within the scope of the Agreement.
Trading commission is the fee incurred by the Company from Client for conducting a Trading operation.
Trading instruction means Client’s order to the Company to open or close a position or to place, modify, delete an order.
Trading operation means buying or selling of any financial instrument with the intention of the opposite transaction (selling or buying, respectively) of the same instrument and amount.
Trading platform time zone means Eastern European Time, EET is equal to GMT+2 in winter and GMT+3 in summer. Graphics in terminal as well as recording of any event in the log file of a trading server are reflected according to EET.
Trading server of the Company means software of Meta Trader Server by means of which Client’s instructions and requests are processed, the information on trading in financial markets (in the volume determined by the Company) is provided in real time mode, the mutual obligations between the Company and the Client as well as adherence to contract specifications and restrictions are registered.
Transaction means a conversion of funds from the base currency (asset) to the quote currency and vice versa as a result of trading operations.
Transaction size means lot size multiplied by the number of lots.
Type of account – the terms of working on trading account. The list of types of accounts offered by the Company is based in Trading Terms section on its website. Type of account is set when Client registers an account and cannot be amended later.
Volume of trading operation – product of a number of lots by volume of lot.
One of the main priorities of the Company is to protect the privacy and safeguard of the personal and financial information of our current and potential clients and website visitors. It is explained in following Security Policy statement how the Company collects, processes and protects the information. In Security Policy it is described how the Company preserves the confidentiality of personal data of the Clients and network users. By using the official web-site of the Company https://www.otetmarkets.com (hereinafter the Site) you accept the given Security Policy.
Note: the present policy extends only on the Company’s site and does not extend on websites of other companies, persons or the organizations references on which contains the web site.
At opening and use of the trading account you give the personal information of the Company, which can be used in the business purposes, as that: processing of inquiries, trading/noncommercial operations, informing on services, the shares of company, special offers which can interest you, and also for headline news, reports of information and offers to express the opinion concerning work of our Company, realization of direct work with Clients, the identification card. The personal information can contain:
The Company do not disclose the personal information to the third parties.
The Company possesses SSL encryption that allows providing the maximum safety of protection of the personal data transferred by you.
Confidentiality and information disclosing:
Any personal information which you will give us will be regarded as confidential and business of partners, counterparts in that measure in what it is required for business dealing can be transferred only within the limits of the Company, its branches, including, bank and credit mutual relations. The personal information won't reveal the Company to any third party, except federal and state regulating and law enforcement bodies in reply to the corresponding, legally issued inquiries about granting of such information, and also has the right to open the information on the Client and transactions of the Client in reply to judicial decisions or the summons about an appearance court.
The system of tracking of the Internet site also can collect the information on pages which you have visited, how you have found our Internet site, frequency of your visiting, etc. The information which we receive, is used for information improvement on our site and can be used us for communication with you in any pertinent ways, and give you the information which in our opinion will be useful to you.
However, to provide full and objective control over the propriety of chargeback procedure the Company reserves the right, to itself and to the agent acting on behalf of the Company, to transmit personal information of the Client, who applied for chargeback procedure, to banks, brokers, financial and credit institutions and other establishments in order to verify it, if the Company or the agent acting on behalf of the Company finds it necessary for current and past transactions’ investigation and fraud prevention.
Refusal of participation:
In case you do not wish to receive any advertising information anymore, you can refuse their reception, following the instructions included in each advertising message.
Cookie is a small text file, which remains on the computer of the user for conducting records. Our Company uses Cookie on our site. We establish constant Cookie for statistics conducting; also, it gives the chance to us to trace and designate a site and interests of our users and to improve experience of granting of our services on a site.
Access to the Personal information:
In case of change of the personal information, you should notify the Company, having addressed in our support service of clients by e-mail [email protected]
Occasionally, the Company may change or update this Privacy Statement at its discretion. In the event of significant changes of this Privacy Statement, the revised Privacy Statement will promptly be published on the Site. If you continue using the Site after placing of this announcement, it will automatically mean your consent with such changes.
In case you will have questions concerning the Security policy you can mail them to [email protected].
1 . Anti-Money Laundering (AML) policy
Otet Group Ltd. (hereinafter called as the “Company” or “we” or “our” or “us”) is registered and authorised by the Marshall Islands by number 118922. The Company is working hard to create a culture that helps detect and report any incidences of money laundering and/or terrorist financing. The company is committed to be in compliance with all applicable laws and regulations regarding anti money laundering and terrorist financing in the Cayman Islands.
It is our major responsibility, among others, to prevent money laundering and terrorist financing. On one hand, the money laundering is a financial crime committed by someone who is making the possession, use or disposal of money or other property obtained from criminal activities appear to be legal. On the other hand, terrorist financing is the process by which terrorists fund their operations in order to perform terrorist acts. Terrorists need financial support to carry out their activities and to achieve their goals. There is little difference between terrorists and other criminals in their abuse of the financial system. While different from money laundering, terrorists often exploit similar weaknesses in the financial system. The Anti Money Laundering Compliance Program is designed to prevent the firm from forming business relationships or from carrying out one-off transactions with or for another person or client unless the firm can:Clearly establish the identity of the person or client;
Maintain record keeping procedures in accordance with applicable laws and regulations; and Apply appropriate internal controls and communication. o The Company has put in place a robust governance framework throughout the organisation for managing risk and AML compliance.o The Company’s AML governance framework is made up of the following core components; Responsible Board oversight; A strong and independent Money Laundering Compliance Officer (MLCO); Adoption of the risk-based approach as per the Cayman AML regulations and laws, as amended from time to time; Policies and Procedures; and Ongoing organisation wide Training.
Identify a customer, whether a customer in an established business relationship or a one-off transaction, and whether natural, legal person or legal arrangement and shall verify the customer’s identity using reliable, independent source documents, data or information; Verify that a person purporting to act on behalf of a customer is properly authorized and identify and verify the identity of the person;
Identify a beneficial owner and take reasonable measures to verify the identity of the beneficial owner, using the relevant information or data obtained from reliable sources, so as to be satisfied that the person knows the identity of the beneficial owner; Understand and obtain information on, the purpose and intended nature of a business relationship; and Conduct ongoing due diligence on a business relationship including o Scrutinising transactions undertaken throughout the course of the business relationship to ensure that transactions being conducted are consistent with the person’s knowledge of the customer, the customer’s business and risk profile, including where necessary, the customer’s source of funds; and o Ensuring that documents, data or information collected under the customer due diligence process is kept current and relevant to customer due diligence, by reviewing existing records at appropriate times, taking into account whether and when customer due diligence measures have been previously undertaken, particularly for higher risk categories of customers. The Company follows the domestic legislation as required by Marshall Islands, however we do follow stricter rules and legislation when it comes to AML procedures and will continue to keep in place the AML procedures in order to safeguard and act honestly, fairly always acting in the best interest of the clients. The Company also has a policy of processing withdrawals only to the same bank accounts as initial deposits.
Accordingly, your cooperation and understanding of these steps is necessary to effectively combat money laundering and financing terrorism. Each of the affiliates of the Company is required to comply with AML and KYC policies. All identification documents and services records shall be kept for the minimum period of time required by the law. All new employees shall receive anti money laundering training as part of the mandatory new-hire training program. All applicable employees are also required to complete AML and KYC training annually. Participation in additional targeted training programs is required for all employees with dayto-day AML and KYC responsibilities. This policy is intended for the protection of the Company and our clients. If you have any questions about the policy, please contact: [email protected]
Under the terms of a public offer (hereinafter referred to as the “Agreement”), Otet Group Ltd. (hereinafter referred to as the Company), on the one hand, and the natural person filling out the registration form to open trading account with the Company (hereinafter referred to as the Client) on the other hand, collectively referred to as Parties, have concluded this Agreement:
1.1. This Client Agreement and its Addendum thereto as well as any information set forth on the official website of the Company, determine conditions of rendering by the Company of services to the Client regarding trade operations in the international exchange market (FOREX) and contracts for difference (CFDs), including all accompanying services and non-trading operations as well as rights and obligations of the Parties arising in connection to the procedure of rendering and execution of such services.
1.2. Services of the Company hereunder are as follows:
1.3. To receive services of the Company the Client is to complete Personal Area registration procedure on the Company’s official web-site: fill in registration form and accept this Agreement. Acceptance of the present Agreement by the Client shall mean that the Client have thoroughly read it, fully understood and agreed with all terms and conditions thereof.
1.4. The Client agrees that the Company has the right to unilaterally amend, add, rename or leave without changes any services rendered under the present Agreement with the notification of the Client within the period and under the conditions provided herein. Any amendments, additions, renaming of the services shall take effect immediately after notification of the Client in accordance with the procedure set forth in Section 3 herein.
1.5. The Client confirms that the present Agreement applies to the services that may be changed, added or renamed in future in addition to those services that are rendered to the Client at the moment of registration and opening of trading account.
1.6. All financial instruments, transactions to which are performed by the Client in accordance with the terms of the present Agreement, are for settlement. Physical transfer of currency or underlying assets (assets in the basis of the contract) does not take place during contract execution.
1.7. With respect to the Client's trading operations, the Company executes orders, as well as performs transactions contained herein, without providing trust management and without giving recommendations. Information or research materials published on the official website of the Company, or services provided to the Client in any other way, including through the trade copier services, as well as the private opinion or advice of any third party, do not constitute recommendations for any possible trade solutions. The Client is fully liable for all trading operations on his trading account and for his investment decisions.
2.1. In order to open trading account in the Company the Client shall take registration procedure on the official website of the Company – fill out registration form for opening of trading account and accept this Agreement.
2.2. When undergoing registration procedure, the Client may select one of several available types of trading accounts offered by the Company. Specific conditions and peculiarities of service rendering for each type of trading accounts offered are available on the official website of the Company and are the integral part of the present Agreement.
2.3. A person who has filled out registration form for opening of trading account shall be deemed individual whose data is specified in such registration form. The Company does not assume any responsibilities for invalidity and/or unauthenticity of the information provided by the Client during opening of the trading account. The Client assumes responsibility for authenticity and validity of the data provided to the Company, as well as for any potential consequences resulting from its invalidity and/or unauthenticity.
2.4. After filling out registration form, confirmation of registration data of the Client and accepting of the present Agreement a trading account will be opened for the Client, and corresponding codes (login and password) are generated and presented to the Client that provide the Client with access to the personal account and Client’s terminal. Access codes (login and password) are used for Client identification during performance of transactions and management of trading account and funds on it. Login is provided once and cannot be changed in future. Password can be changed at any time at the request of either Party. Changing of the password by the Client him/herself can be performed at any time and does not require notification of the Company. When password is changed on the initiative of the Company corresponding notice is sent to the Client’s email address, set forth by the Client as a contact email. 2.5. The Client can open and manage account in USD or EUR at the Client’s discretion. Account can also be opened in other currencies. The Client can find out the list of available currencies on the official website of the Company or by contacting Client support service.
2.6. The Client gets automatically generated Phone Password (code word) after trading account registration. This password is used for identification of the Client, when the Client orders trading operations execution via phone or requests information about trading account balance via phone.
2.7. To confirm request on operation of fund withdrawal from the Client's account an SMS message with dynamic password will be generated and sent to the Client's mobile phone that was previously indicated by the Client in the registration form. All requests to withdraw funds from the Client's account, which are not confirmed by a dynamic password, will be automatically rejected.
2.8. The Client assumes complete responsibility for confidentiality of the credentials of his/her trading account, as well as for any trading and non-trading transactions on the account performed by a person duly authorized within trading platform, on official website or server of the Company using credentials of the Client’s trading account. All messages transferred to the Company by a person duly authorized within trading platform, on official website or server of the Company using credentials of the Client’s trading account shall be deemed issued directly by the Client.
2.9. In case of loss of password by the Client the Company has the right to change existing password at the Client’s request. List of the documents needed for Client’s identification is determined by the Company individually.
3.1. Labor Hours of the Company: around the clock from 00:00 Monday to 24:00 Friday EET (Eastern European Time: GMT+2 winter time, GMT+3 summer time).
3.2. Labor off Hours of the Company: from 00:00 Saturday to 24:00 Sunday EET (Eastern European Time: GMT+2 winter time, GMT+3 summer time). In addition, the Company's non-working time include the days of international holidays, entailing the closure of financial markets and stopping the trade of financial instruments, provided in the trading platform. Also, in the event of changes made by liquidity providers, the Company has the right to make appropriate adjustments to the schedule of trading instruments.
3.3. The Company can use following media for communication with the Client:
3.4. The Company shall use for communication with the Client only those details provided by the Client when opening trading account or changed by the Client later in accordance with the established procedure. Correspondence and information sent by the Company to the particulars set forth by the Client shall be deemed duly sent and the Client does not have the right to refer to invalidity or change of such particulars if the Company has not been notified by the Client beforehand and contact information has been changed inappropriately.
3.5. Any correspondence and information (documents, announcements, notifications, confirmations, requests, reports, messages, etc.) shall be deemed received by the Client:
3.6. Correspondence and information sent by the Company to the particulars specified by the Client, namely to Client’s e-mail; specified fax; mail address; via internal mail of trading platform; or publication of the information on the official website of the Company shall be sufficient written notification.
3.7. The Client agrees that the Company has the right to delete messages that are not received by the Client via internal mail of client terminal after three calendar days from the date of sending of such messages.
3.8. The Client agrees that the Company has the right to keep record of oral and phone negotiations with the Client. Such records shall be Company’s property and can be published as evidence of requests and instructions issued by the Client, and other facts of interaction between the Company and the Client, furthermore, records are used for improvement of Client experience.
4.1. Client has a right:
4.2. Client guarantees that:
4.3. Client shall:
4.4. Company has the right to:
4.5. Company shall:
5.1. In order to provide the possibility to perform trading transaction the Client shall on his own fund his trading account through the transfer of his own money to the Company’s accounts to the bank details, specified in the personal account. The account can also be credited using all other methods set forth on the official website of the Company and available to the Client from his/her personal account.
5.2. The Client acknowledges and agrees that the Company will not pay the Client any interest for money deposited on his/her trading account, unless otherwise provided by additional marketing activities and services as presented in the website of the Company.
5.3. Withdrawal of available funds from the trading account (excluding credit funds and not exceeding the account balance) can be done by the Client at any moment at his/her discretion excluding the cases set forth herein and in appendixes hereto.
5.4. Account funding as well as withdrawal of funds from the account can be made in USD, EUR and other currencies, list of which the Client can get in the Client Area and by contacting Customer Support Service.
5.5. When funding trading account with currency other than the currency of trading account, the credited money is converted into the currency at the internal exchange rate of the Company. Internal exchange rates of the Company are set at the discretion of the Company depending on market situation, market volatility and other external and internal factors, any references to exchange rates in other sources are unauthorized. Up-to-date internal exchange rates of the Company are published in the Client Area.
5.6. Terms and procedure of funds transfer.
5.6.1. When making operation of funding account in the Company the sender's data have to completely match with the Client's data mentioned in the Client Area. In case of revealing the fact of funds transfer from third parties, the Company has the right, but is not obliged to:
5.6.2. Funds from the trading account should be withdrawn in the same way and in the same currency to the bank account or electronic payment system with which the deposit was made in a proportional amount. When withdrawing funds, the beneficiary's data should exactly agree with the Client's data in the Client area and completely match with the Client’s identity documents.
5.6.3. Depending on the deposit methods used by the Client, the Company has the right to:
5.7. Crediting of funds to the trading account of the Client shall be performed by the Company within one working day from the date of receipt of the money on Company’s accounts or from the date of receipt of order for money transfer between the accounts within the Company.
5.8. The Client can perform funds transfer from his/her trading account to another trading account that belongs to him/her within the Company. Company reserves the right to prohibit internal transfers between Client's accounts at its sole discretion.
5.9. In case if trading accounts, between which funds are transferred, are handled in different currencies, then currency conversion during the transfer is performed at the internal exchange rates of the Company; information on the current state of such exchange rates is available on the official website of the Company and in the Customer Support Service.
5.10. Withdrawal of funds from the trading account that has open positions can be only performed within the limits of free margin on the account (excluding credit funds and not more than the account balance at the moment of order). If the amount of money withdrawn by the client (including fees, charges and other expenses) exceeds the amount of free margin of the trading account, then the Company reserves the right to decline such an order.
5.11. If Client has open positions involving the instruments on which trading sessions are closed by the moment of handling of the Instruction on withdrawal of money funds, the Company has the right to fully or partly reject such a withdrawal until required trading sessions are opened.
5.12. All withdrawal requests may be confirmed by dynamic password sent in SMS message to the phone number of the Client given in the Client Area. For safety reasons the Company manager has the right to contact the Client by given telephone number for verbal confirmation of withdrawal request.
5.13. All requests for funds withdrawals from the trading account of the Client shall be performed by the Company within the time, specified in the Regulations for non-trading operations.
5.14. All charges and fees connected to the transfer of money and calculations performed by the Parties are paid at the expense of the Client.
5.15. The Client agrees that in case of any failures of the software there may be delays of money crediting to the Client’s trading account. The Company can perform manual crediting of money to Client’s trading account in case of discovering of any failure of software that resulted in delays of automatic money crediting provided that the Client informed helpdesk stuff of the Company about such delay.
5.16. The Client transfers money to the trading account in order to deposit it or to maintain open position at his/her own discretion. The Company does not send any requests to the Client for maintenance of required margin level.
5.17. The Company reserves the right to set limits for minimum and maximum amounts of crediting and withdrawal operations for a period (per once, per day, per month, etc.) for each crediting/withdrawal method. These restrictions shall be published in the Personal area.
5.18. In any cases when the Company has the right to get commission or other fees from the Client for the provided services in accordance with the terms of the present Agreement, as well as the cases when the Client shall indemnify any expenses incurred by the Company, corresponding amount will be deducted by the Company from the trading account of the Client without further authorization.
5.19. The Company is not obliged to disclose or provide information to the Client about fees or other remuneration, and other expenses incurred by the Company from the trading or non-trading transaction of the Client.
5.20. The Company has the right at its discretion and without giving reasons to refuse connecting or to disable promotions and services, to not credit or to deduct from the Client’s account the payments in full under the Company’s promotions and services (bonuses, rewards, prizes, etc.). In particular, if it's revealed the Client has a trading strategy that is not economically reasonable without the promotions and services offered by the Company, including the Company's partner program.
5.21. The Company has the right to fully deduct from the Client's account the payments made under the Company’s promotions and services (bonuses, rewards, prizes, etc.) in case of funds withdrawal from the account by the Client, including funds transfer to another account.
5.22. The Company has the right to:
5.22.1. Block or permanently delete the Client's account, on which there are no operations initiated by the Client for more than 30 (thirty) calendar days in a row from the moment of opening the account (deposits, withdrawals, trading operations).
5.22.2. Fully deduct from the Client’s account the payments made under the Company’s promotions and services (bonuses, rewards, prizes, etc.) in case there are no operations initiated by the Client for more than 30 (thirty) calendar days in a row (deposits, withdrawals, trading operations).
5.22.3. Charge a monthly commission in the amount of 1 USD or the equivalent in the account currency for maintaining the Client's inactive account, on which there are no operations initiated by the Client for more than 90 (ninety) calendar days in a row (deposits, withdrawals, trading operations).
5.22.4. Block the Client’s account, on which there are no operations initiated by the Client for more than 270 (two hundred seventy) calendar days in a row (deposits, withdrawals, trading operations).
5.22.5. Permanently delete the Client's account, on which there is not enough funds to pay commissions for maintenance of an inactive account.
6.1. The “laundering proceeds of crime” (money laundering) in the context of this Agreement shall mean the action aimed at conversion of money and other tangible assets acquired from illegitimate activities (terrorism, drug dealing, illegal arms trade, corruption, human trafficking and others) into the money or investments, origin of which seems legitimate.
6.2. In order to prevent laundering proceeds of crime (money laundering) the Company reserves the right to apply means of internal control and programs for its implementation, and render assistance for international organizations for terrorism financing management.
6.2.1. The Company documents and checks identification data of the Client, and keeps and traces detailed reports on all the transactions performed by the Client.
6.2.2. The Company keeps track of all and any operations of the Clients that may have signs of illegal activity aimed at laundering proceeds of crime, and all operations that were performed under unusual conditions.
6.2.3. The Company does not accept cash as a deposit and does not pay cash under any circumstances.
6.2.4. The Company may refuse processing of operation at any point in case it has sufficient grounds to believe that such operation is somehow related to illegal activities.
6.3. The Client acknowledges that the identification data and information specified by him/her during trading account opening can be used by the Company under the program of prevention of money laundering.
6.4. According to international legislation the Company is not obliged to inform the Client about the fact that the corresponding body is notified about the Client’s suspicious activities.
6.5. The Client agrees that in case the Company has the reason to think that the trading account of the Client is used for money laundering, or that the owner of the account hides and provides misleading identification information and data, as well as in case there is a reason to believe that the transactions on the trading account of the Client have been performed with violation of the present Agreement, the Company reserves the right to suspend all operations on the Client’s trading account in order to conduct all necessary checks (registration data check, identification of the Client, checking of history of non-trading operations and transferring of funds, etc.) until complete explanation of circumstances.
6.6. To comply with recommendations on anti-money laundering, during registration of a trading account by Client and any trading and non-trading transactions, Company has the right to require that submission by Client of two identity and registration proof documents. Moreover, the Company has the right to require Client to submit following documents:
- Photo ID (photo of the Client holding identification document);
- Photocopy of the front of the card used for account funding or that will be used for withdrawals;
- Bank statement clearly indicating the holder of bank card used for account funding or that will be used for withdrawals;
- Photo of the Client on the background of the opened account of electronic payment system; - Photocopy of any other identification document;
- Photocopy of utility bill issued within the last 3 months;
- Notarized copy of any document mentioned above, contact details of a public notary;
- Other required documents. Above-mentioned documents are provided in the form of an electronic copy either a notarized copy required by at the discretion of Company.
6.7. It is preferable to provide documents of international sample in English. If documents are provided not in English, the Company has the right to request translation. The documents should be translated in English, printed and signed by a professional translator and provided to the Company with copies of original documents.
6.8. The Client should provide documents requested by the Company within fifteen working days of receipt of the relevant request, as well as meet the following requirements:
- Photos must be of high quality, color, clear and focused;
- The document text must be easily legible, there should be no shadows and highlights that can complicate the information perception;
- The requested document on the image should be presented in full, including lamination corners or edges, as well as the back side (if it contains your data and not empty);
- Graphic editors cannot be used to correct and process images;
- Photo ID (your photo with an identity document you hold) clearly shows your face and it takes up at least 30% of the photo area; - Proof of address (utilities bill, bank statement, etc.) must be no more than three months old. Photos taken before the request or sent not from the Client's e-mail may be rejected by the Company.
6.9. The Company has the right to suspend non-trading operations on the Client’s account including withdrawal operations until the receipt of the documents requested for the purpose of Client identification.
6.10. In case of failure to submit the documents within the 15 calendar days from the moment of request, Company has the right to suspend all trading and non-trading transactions on the Client’s account, unilaterally close all open positions at the current market prices and freeze all the assets on the trading account of the Client.
6.11. In case of failure to provide documents within 30 calendar days from the moment of request, this Agreement is considered terminated and the Company has the right to close opened trades of the Client at current market price, block access to the Client Area, block funds, cancel operations and trades on the accounts of the Client and archive account irreversibly.
6.12. The Client is responsible for the authenticity of the submitted documents (its copies) and recognizes the right of the Company, in the event of doubt as to their authenticity, contact the low enforcement authorities of the country of the document issuer to verify the authenticity of the documents. Upon detection of forgery fact or editing of the identification image in graphical editor this Agreement is considered terminated, and the Company reserves the right to attract the Client to account in accordance with the laws of the country of issuer. When the Agreement is terminated in accordance with this paragraph, the Company has the right to close opened positions of the Client at current market price, block access to the Client Area, block funds, cancel operations and trades on the Client's accounts and archive the accounts irreversibly.
7.1. All information submitted by the Client when opening the account and in the course of further interrelations with the Company, as well as information about credentials, provided to the Client for operation, is completely confidential, unless in this Agreement and its Annexes indicated otherwise, and each Party is responsible for confidentiality and use of such information.
7.2. In the event of the Client making a claim against the Company via publicly available resources, the Company reserves the right to disclose obtained information about the Client to fully and objectively review the situation.
8.1. Responsibility of the Company:
8.1.1. In case of violation by the Company of terms hereunder due to circumstances the Company is responsible for which resulted in actual damage to the Client, the Client has the right to claim indemnification of actual damage.
8.1.2. The Company does not recompense short-received profit of the Client including the cases, when the Client had an intention to perform some action but did not perform it due to some reason. The Company does not indemnify any indirect losses and moral damage.
8.2. Responsibility of the Client.
8.2.1. The Client assumes total responsibility for all the actions performed by the Client in accordance with the present Agreement.
8.2.2. The Client shall bear sole responsibility for any actions resulting from the use of access codes of Client’s trading account.
8.2.3. In case of violation by the Client of the terms hereunder, responsibility for which is not provided herein, as well as in case of any damage made by the Client to the Company, the Company has the right to write off without further authorization from the Client’s account the amount of money sufficient for indemnification of the damage, and in case of insufficiency of the amount of money on the Client’s accounts for indemnification of the damage made, demand lacking money to be credited by the Client to his/her account for indemnification of the damage.
8.2.4. The request of the Company for the crediting of lacking money for full indemnification of damage shall be satisfied by the Client within 10 (ten) working days.
8.3. Violation of the provisions of the present Agreement by the Client committed within validity term of the Agreement shall be accepted by the Company for settlement irrespective of the prescription of its commitment, and for that reason the Company has the right to make claims to the Client within any timeframe.
8.4. The Client accepts and agrees to bear the full risk associated with the termination or suspension of any of electronic payment systems used by the Client. In such cases, the Company has the right to block the withdrawal of funds from the Client's trading account, to the extent in which this payment system was used to deposit funds within the last six months. The time of blocking of funds is limited to six months or terminates automatically after the resuming of work of the electronic payment system.
8.5. The Parties assume responsibilities in accordance with the present Agreement and other applicable regulation for failure to fulfill and/or for default in performance of the obligation under this Agreement.
9.1. The Parties shall not be held liable for failure to fulfill and/or for default in performance of the terms and conditions hereunder if such failure and/or default resulted from force-majeure circumstances; that is, such circumstances that the Parties were not able to reasonably prevent or foresee. Such circumstances include, but not limited to: earthquakes, floods, tsunami, other acts of God, industrial disasters, epidemics and epizootics, terrorist acts, riots, acts and actions of governmental authorities, embargoes, wars and military conflicts, or other circumstances occurring against the will of the Parties and usually referred to as forcemajeure.
9.2. Circumstances that eliminate liability (force-majeure circumstances), in accordance with this Agreement, also include illegal actions against the Company, its employees and/or property, including hacker attacks and other illegitimate actions in regards to Company’s servers.
9.3. In accordance with the present Agreement force-majeure circumstances also include suspending of operation, liquidation or shutting down of some market, or absence of some event, on which the Company bases quotes, or implementation of limitations or special and unusual trading conditions in any market or in respect to any such event.
9.4. In case of occurrence of circumstances eliminating liabilities (force-majeure) the Company has the right to perform any or several following actions without prior notification of the Client:
9.5. The Party, for which failure to fulfill or default in performance of the terms hereunder was caused by force- majeure circumstances, shall inform the other Party about such circumstances within thirty calendar days from the date of the occurrence thereof.
9.6. The Party that fails to inform the contractor about the occurrence of such force-majeure circumstances does not have the right to refer to such circumstances as force-majeure.
10.1. Possible disputes and contradictions that arise from the execution of the present Agreement subject to settlement through the negotiations between the Parties.
10.2. In case of any dispute the Client who considers his/her interests to be violated, shall submit a claim to the Company.
10.3. Deadline for a claim:
10.3.1. The claim, submission of which is based on the relation of the Parties in regards to performance of trading transactions in exchange markets, shall be submitted by the Client within three working days from the date of appearance of ground for submission of such claim.
10.3.2. The claim, submission of which is connected with performance of non-trading operations and other reasons, shall be submitted by the Client within 5 (five) working days from the date of occurrence of the grounds for submission of such claim.
10.3.3. Failure to submit a claim by the Client within specified timeframe shall be deemed confirmation of the Client’s agreement with Company’s actions and absence of any disputes and controversies.
10.4. A claim submitted by the Client with violation of stated period shall not be considered by the Company.
10.5. The claim shall be executed by the Client in the form of e-mail and/or via ticket system in the personal account, and sent to the official electronic addresses published on the official website of the Company. Claims submitted in other form (at public Internet resources, by phone, by fax or in any other way), shall not be considered.
10.6. The claim must have following content:
10.7. The claim submitted on the ground of trading transactions in exchange markets shall include the following:
10.8. The claim shall not contain:
10.9. The Company has the right to decline a claim of the Client in case of failure to comply with the terms of execution and sending of such claim set forth in Procedure of dispute resolution section of this Agreement, and if the order under question was performed at the expense of the Company or profit mainly generated with the help of the Company's funds.
10.10. The Company considers a claim and makes a decision regarding disputable situation within the shortest possible timeframe. In case of availability of all data required for claim consideration term of its consideration shall be:
10.10.1. for the claims based on the trading transactions in exchange markets – ten working days from the receipt.
10.10.2. for the claims regarding other issues – twenty calendar days from the date of receipt.
10.11. In case if the Company has to request additional data and/or documents from the Client for the purpose of consideration of a claim, the beginning date of claim consideration shall be the date of receipt of all requested data and/or documents by the Company from the Client.
10.12. Log file of the server shall be the main source of information during settlement of disputes regarding trading transactions of the Client in exchange markets. Information contained in log file of server supersedes any other arguments during settlement of dispute, including information contained in the log file of client terminal.
10.13. In case the claim is considered to be reasonable settlement shall be performed in the form of compensatory payment credited to the Client’s trading account. The Company does not indemnify short-received profit of the Client including the cases, when the Client intended to take some action, but failed to do so due to some reason. The Company does not indemnify any indirect losses and moral damage.
10.14. In case of making a decision in favor of the Client on the disputable situation the Company shall credit compensatory payment to the trading account of the Client within one working day.
10.15. Peculiarities, specific conditions and possible ways of settlement of disputes regarding trading transactions performed by the Client are described in more details in respective sections of Regulations for performance of trading transactions, which is the Appendix to the present Agreement.
10.16. In case any dispute occurs that is not described herein and in appendixes hereto final decision on such claim shall be made by the Company based on common market practice, internal policy of the Company and Company’s vision of fair settlement of dispute. The Company can also use quotes from any other market maker for the comparative analysis of the quotes.
10.17. In case of failure to come to an agreement in the course of negotiations and/or disagreement of the Client with the decision made by the Company, the disputes subject to submission for consideration in the court of competent jurisdiction in accordance with the established provision of law.
11.1. The present Agreement is executed and applied in accordance with legal regulations of the Company's country of incorporation. In case of any issues that are not provided for in this Agreement the Parties shall be guided by the applicable legal regulations of Company's country of incorporation.
11.2. All disputes and controversies that cannot be settled through the negotiations between the Parties subject to submission to the court of competent jurisdiction of Company's country of incorporation.
11.3. The Parties agree:
12.1. The present Agreement between the Company and the Client becomes effective from the date of opening Personal Area by the Client in the Company and shall remain effective within the uncertain term.
12.2. The Company has the right to unilaterally change and add this Agreement with the necessary notification of the Client about it. Any changes and additions hereto shall become effective on the following calendar day after notification the Client about it, unless otherwise is set forth within the content of such changes and additions or within the content of the notice thereof. Conduction of any trade or non-trading operation by the Client means unconditional acceptance of this Agreement by the Client.
12.3. Each Party has the right to refuse unilaterally performance of the present Agreement with the notification of other Party not less than fifteen calendar days prior to the supposed date.
12.4. In case of breach by the Client of terms of the present Agreement, and in cases set forth by legislation rules, the Company has the right to immediately and unilaterally terminate this Agreement. In this case, if the Client has some open positions at the moment of termination of the Agreement, the Company has the right to close such positions at current market price. Company shall recover the funds remaining on Client’s account to Client or his/her duly authorized representative, but these funds shall not exceed net receipt of funds (the amount of all deposit with deduction of all withdrawals) on accounts of Client. Upon that, Company shall debit remains of funds on Client's account and won't recover these funds further.
12.5. The Client agrees that the Company has the right at its own discretion to suspend or deny fully or partially Client’s access to Company’s services with further notification of the Client about it. In this case effect of this Agreement shall be deemed suspended or it shall be deemed terminated from the moment of such suspending and/or cessation of service rendering for the Client.
12.6. The Company has the right without Client’s consent to transfer rights and obligations hereunder and under appendixes hereto fully or partially to a third party provided that such legal successor agrees with the terms and conditions of this Agreement and appendixes hereto. The Client shall be notified by the Company in writing about such transfer of rights and obligations not less than fifteen calendar days before such transfer.
12.7. In case of cessation by the Company of performance regulated by this Agreement the Company shall inform the Client about such cessation not later than one month before. All money on the trading account of the Client shall be returned to him/her after closing of all open positions.
12.8. In case of Client’s death (an individual) the right to request money withdrawal from the trading account of the Client shall transfer to the successors of corresponding priority or heir by will. In this case the right to use trading account of the Client and the right to perform trading transactions in exchange markets is not inherited.
12.9. Cessation of the present Agreement does not cancel obligations of the Parties before each other that occurred earlier out of this Agreement including any obligations regarding open positions, transactions for withdrawal/crediting of money to the trading account of the Client.
12.10. In the event that any provisions of this Agreement shall be determined null and void by a court of competent jurisdiction, this provision is to be regarded as an independent part of this Agreement, and will not affect legal effect of other parts of this Agreement.
13.1. The addendum listed below shall be the integral part of the present Agreement:
13.2. Information published on the official website of the Company shall also be the integral part of this Agreement.
Name and Family Name:
PARTNER AGREEMENT (IB)
1. General Provisions
1.1 This Agreement is made and entered into account on 6th July 2023 (2023/06/07) by and between Otet Group LTD, a financial brokerage company registered by license No 118922, in Ajeltake Road, Ajeltake Island, Majuro, Republic of Marshall Islands MH 96960 and, the Partner (IB) is an individual or a legal entity that is attracting new clients to the Company and acting under this Agreement on behalf of the Company.
1.2 The "Company" shall mean Otet Group LTD. as defined in the section introduction.
1.3 "IB" shall mean a Partner, IB, introducing customer accounts to Otet Group LTD.
1.4 "Customer" means a customer of Otet Group LTD. whom IB introduces.
1.5 "Account" shall mean an account established for a Customer introduced to Otet Group LTD by IB.
2. Interaction of the Parties
2.1 The purpose of this Agreement is to set forth the terms and conditions, scope of work, and responsibilities of the parties associated with their collaboration in describing the project. Both parties will collaborate to define specific goals and objectives related to the product.
2.2 Both parties see the benefits of this project, have a desire to pursue the project, and have determined that each brings the unique expertise and experience necessary to accomplish the objectives of this Agreement.
3. The Company’s Rights and Responsibilities
3.1 Otet Group LTD shall undertake the following activities under this Agreement:
3.2 The Company has the right to control the Partner's activity concerning implementing the Partner’s functions and responsibilities under this Agreement.
3.3 The Company has the right to request a detailed report on the discharge of the Partner’s obligations under this Agreement and on the progress and results of the services offered by the Partner.
3.4 The Company has the right to change the type and the amount of the Affiliate program and commission in case the Partner fails to fulfill the conditions of this Agreement.
3.5 The Company reserves the right to cancel this Agreement unilaterally in the extrajudicial procedure.
3.6 The Company has the right to amend this Agreement, as well as change the amount of the partner commission. The notice about this is to be sent to the Partner by the terminal's inner messages, email, posting, or by an announcement on the Company’s site on this link three business days before the amendments come into effect.
3.7 The Company, at its sole discretion, reserves the right to require the Partner to immediately correct or delete marketing materials and other information posted on the Partner's Web resources if such information is incorrect, misleading, or detrimental to the Company's reputation, business interests, or regulatory compliance.
3.8 In case any actions that are against the Company's interests might have a negative influence on the Company's reputation or activity or might be the reason to doubt the Partner's work ethics, the Company has the right to terminate this Agreement unilaterally.
3.9 The Partner acknowledges and agrees that the Company has the right to monitor and review all information posted by the Partner on its Web resources. The Partner shall, in turn, comply with any requests from the Company to correct or remove non-compliant information and shall indemnify and hold the Company harmless from any losses, damages, or liabilities arising from non-compliant information posted by the Partner. The Partner understands that the failure to comply with these obligations may result in the termination of the Partner Agreement.
3.10 Suppose the Partner does not comply with the Company's internal policies. In that case, the Company may, at its sole discretion, restrict the payout of the Partner commission and terminate this Agreement and the Partner's Client Agreement with forced closure of open positions, if applicable. The Partner acknowledges and agrees that the Company shall have no liability or responsibility for any losses or damages resulting from such closure.
3.11 Provide the needed services for the clients introduced by IB of this agreement, lower the principles, and control them monthly.
3.12 Make the agreed payments weekly to IB of this Agreement.
3.13 Otet Group LTD will follow the Introducing Broker rebates as the table attached to this Agreement.
4. The Partner’s (IB) Rights and Responsibilities
4.1 The Partner is fully responsible for compliance with legal regulations in their activity and also shall follow all articles of this Agreement.
4.2 Inform new clients about the scope of activity and services of the Company, about the competitive advantage of the Company, as well as provide all necessary information, including addresses and contact details of the Company.
4.3 Introduce new clients to the Company website https://otetmarkets.com and describe its structure, refer to the documents and information listed on the site, and explain them.
4.4 Inform the Company immediately about any external interference in their activity.
4.5 Inform the Company about any known circumstances that may affect or prevent them from fulfilling their obligations under this Agreement or involve any risks for the Company.
4.6 In their activity, they obey the laws of their resident country or the country where their promotional campaigns for attracting clients are taking place.
4.7 In response to the Company's inquiry, please provide a detailed report about fulfilling their obligations under this Agreement and the progress and results of services rendered by the Partner.
4.8 The Partner shall keep the information about the Company and its services posted on the affiliate website up to date. Suppose unreliable or irrelevant information has been posted on the Partner's Website. In that case, the Company can ask the Partner to remove or update the website information. In contrast, the Partner must fulfill the requirement within seven days of the Company’s request.
4.9 The Partner is not allowed to use the Company’s site design and any of its elements besides the Company’s logo, including full or partial copying.
4.10 At its sole discretion, we shall open accounts to the customers introduced by IB, provided they meet its qualifications criteria and suitability standard.
4.11 We agree to accept instructions and orders from the Customers and send statements of accounts to the Customers introduced by IB.
4.12 Provide services to the customers introduced by IB per our Terms and Conditions.
4.13 Provide a license to IB to use the Company's trading software, forms, literature, newsletters, market reports, and any other informational material we provide.
4.14 IB is strictly not authorized to act as an agent, appointed representative, or as any authority of the Company. For the avoidance of any doubt, IB will not make any recommendation, give advice, accept any commitment or guarantee, or accept any responsibility on any matter whatsoever for or on behalf of us.
5. Services provided by Partner (IB)
5.1 Introduce Customers who fully meet our qualifications and suitability standards on a fully disclosed basis.
5.2 Deliver to Customer, and obtain from Customer and deliver to Otet Group LTD all documentation including, but without limitation, the Customer Account Opening Package, notices, and notifications.
5.3 Obtain and verify Customer information including, but not limitation, Customer details, information on the reputation of the Customer, its financial capacity, and trading objectives.
5.4 Fairly and accurately describe our business and profile according to the information we provide.
5.5 Maintain ethical practices high standard of business, and conduct its business in such a manner to reflect favorably on us.
5.6 Comply with any business-related instruction, terms, or direction we give about IB services.
5.7 Keep records of all Customer Agreements, legal documents, diligence reports, or any other information that may arise during business with us.
5.8 Authorize us to inspect or conduct any due diligence it may require occasionally, without any limitation or means of investigation.
5.9 Notify us orally and in writing upon receipt of any Customer complaints or pending or threatened action raised against us in connection with any alleged errors, corrections, or any other matter on any Customer account.
6. The Introduced Client’s Rights
6.1 In case of necessity, the Introduced Client may leave the group of their IB/Affiliate and move their profile and trading account(s) under another IB/Affiliate. The Company shall not interfere with the Introduced Client's decision.
6.2 To move the profile and trading account(s) to another IB/Affiliate group, the Introduced Client shall send a request to [email protected] or [email protected] mentioning trading account(s) numbers, if any, and the new IB/Affiliate's ID and IB account number.
6.3 The Company reserves the right to resolve disputable situations between the Introduced Client and the IB/Affiliate(s).
7. Settlement Procedure
7.1 The Partner commission is to be calculated once a day, only for complete transactions made by the Partner's attracted clients according to the requirements of this Agreement.
7.2 The partner commission depends on the type and level of the Affiliate Program and is calculated as a percentage of the broker revenue for a transaction. Rates of the partner rewards are listed at the end of this Agreement.
7.3 Any unpaid affiliate commission during the inactive period will not be compensated retroactively upon program reactivation.
7.4 The Company has the right to amend the terms of calculation and payment of the partner commission unilaterally.
7.5 In case of increased costs associated with hedging the trades of a client or group of clients attracted by the Partner, the Company is entitled to reduce the size of affiliate payments on such customers.
7.6 When calculating the commission, the Company can only consider Clients' transactions due to the trading platform's shortcomings.
7.7 If a dispute arises concerning an order for which a commission was paid, the Company reserves the right to cancel the commission received for the transaction.
7.8 The Parties independently and independently execute their tax and other duties concerning third persons.
7.9 When processing a withdrawal request from the partner account, the Company shall use its internal currency rates as of the time of the request processing.
7.10 The withdrawal and transfer of funds from an affiliate account are available only after the complete verification of the Partner.
7.11 The Partner who has passed complete verification shall be entitled to withdraw funds in any payment system available in the "Withdrawal" section of their Members Area.
7.12 Partners are charged for all costs associated with withdrawing funds from affiliate accounts unless the withdrawal is made on specific days when the Company can allow free withdrawals with limitations for eligible clients.
7.13 The Partner bears full responsibility for the adequacy of all the information in their application for the fund withdrawal.
7.14 The withdrawal of funds from the Partner account is accomplished within two business days from when a relevant application for the withdrawal of such funds has been confirmed in the Members Area.
7.15 In case the payment system stops operating for some time, the Company has the right to postpone the date of withdrawal until the payment system resumes working.
7.16 The Company reserves the right to ask the Partner to provide reliable data about their full name and the details of their Passport or ID when withdrawing funds.
7.17 The Company undertakes to take any expedient actions to preclude any illegal financial operations and money laundering by employing the Company’s resources.
7.18 The Partner is to share a part of their Affiliate commission based on the trading turnover in the accounts of the specific clients that the Partner attracted by the terms of the "Rebates for client" service.
7.19 The Partner is to share a part of their Affiliate commission based on the trading turnover in the accounts of the specific clients that their sub-partner attracted by the terms of the "Rebates to sub-partner" service and the Multi-Level Partner Commission System.
8. Settlement of claims and disputes
8.1 In case there is any dispute arising out of or in connection with the fulfillment of this Agreement, the Parties shall do their best to settle such situations using negotiations.
8.2 In any case, before an action can be instituted in the court, the Parties shall undertake to respect the mandatory claimant's procedure. The claimant Party shall deliver the claim within five days from when this Party knew or should have known that its rights were violated.
8.3 Claims in respect of lost profit shall not be considered.
8.4 All claims shall be sent via the following means: email to the address [email protected], ticket in their Members Area (https://my.otetmarkets.com/helpdesk/create-a-ticket).
8.5 The Partner’s claim shall be considered within at most ten business days.
8.6 Should the disputable case not be described thereby, the Company will pronounce judgment as it finds fit, according to the judicial practice.
8.7 The Partner acknowledges and agrees that the program will operate by the specifications outlined in the Partner Agreement. The Partner further recognizes and agrees that any features or functions not expressly described in the Partner Agreement shall not form the basis for a claim or cause of action against the Company.
9.1 An Introducing Broker/Affiliate that refers another IB/Affiliate to their group becomes a Master -IB, while a referred IB/Affiliate becomes their Sub-IB.
9.2 Each Introducing Broker/Affiliate can be at both levels of the program and be the Master-IB and the Sub-IB simultaneously:
This means the Sub-IB Tier 1 who refers another IB/Affiliate to the Company becomes a master IB for their introduced IB/Affiliate, and the introduced IB/Affiliate becomes Sub-IB Tier 2 of the first Master IB.
9.3 If the Sub-IB Tier 2 brings a new IB/Affiliate to the Company, the referred IB/Affiliate becomes Sub-IB Tier 3 of the first Master IB, and Sub-IB Tier 2 will be the Master IB for Sub-IB Tier 3.
9.4 Both the Master-IB and the Sub-IB shall automatically agree to the terms of this Agreement the moment they become Introducing Brokers/Affiliates. The Company shall not be liable for any agreement between the Master-IB and his Sub-IB.
9.5 Master-IB receives the IB/Affiliate commission from the qualified trades of their referred Clients and Sub-IBs and the Sub-IB commission from trades of the Clients referred by their Sub-IBs. The Company fully covers the IB and Sub-IB commission.
9.6 The size of the IB/Affiliate and Sub-IB commission falls under the IB Compensation Schedule agreed with the Business Development Manager.
9.7 In a Master IB network, IB needs at least one active Client to be eligible for rebate compensation unless stated otherwise.
10. Force Majeure
10.1 In agrees that we will not be held liable for any costs, damages, or losses caused by force majeure events, including but not limited to government restrictions, exchange or market rulings, suspension, or delay of trading.
10.2 War, civil disturbances, earthquakes, strikes, equipment failure, communication line failure, program breakdown, unauthorized access, theft, or any problem, technical or otherwise, which may prevent IB or the Customer introduced by IB from entering or modifying an order or prevent us from acting on online instruction, or other events or conditions beyond our control, as determined and at our sole discretion.
11. Terms and Interpretation
11.1 This Agreement shall be for twelve (12) months, commencing on the date this Agreement is accepted by the IB/Affiliate, and will be automatically extended until further notification.
11.2 In the event of termination of this Agreement for any reason, the IB/Affiliate shall promptly destroy all of the information and materials the IB/Affiliate obtained or received from the Company as a result of the relationship created by this Agreement or return them to the Company if requested to do so.
11.3 IB acknowledges and confirms that it has read and understood the Terms in this Agreement and agrees on their terms and conditions. Any failure on our part to enforce our rights and remedies under these Terms shall not constitute a waiver of such right or remedy.
Confidentiality: IB will keep confidential and will not disclose to anyone except with our prior written approval, during and after the relationship with us, all material information it receives during the course of business with us, including but not limited to Customer information, trade secrets, techniques, and other information relating to processes, strategies, and plans.
Severability: Any provision under this Agreement that becomes invalid shall be ineffective to the extent of such invalidity without affecting the remaining provisions.
Assignment: The Company may assign the rights or delegate the obligations under these Terms to a third- party with written notice to IB within 30 days of such assignment. IB grants us the right to transfer this Agreement to any successor organization. IB cannot assign any of its rights or duties under these Terms to any third party.
Headings: The paragraph headings in this Agreement are inserted for description purposes only and are not intended to limit the meaning of any of the Terms.
Entire Agreement: This and the attached Annexures between us and IB constitute the entire Agreement between us and IB. We have made no representations or warranties other than those expressly provided within these Terms.
Active Client: is a client from the Partner’s affiliate group who has made at least one transaction that meets the requirements of the affiliate commission payments over the last 30 days.
Banner: is a graphical ad block with a hyperlink to the Company's Website, which the Partner places on different Web resources to attract new clients.
The Company: is Otet Markets Ltd.
Lot: is a unit to measure the amount (volume) of the order.
Members Area: is the Partner's page on the Company's Website. The Multi-Level Partner Commission System is a system in which the Partner is paid a commission for the trades of clients attracted by their sub-partners.
Sub-Partners (Sub IB): are the Partners who are registered in the Company and are included in another senior Partner’s affiliate group.
Partner: is an individual or a legal entity attracting new clients to the Company and acting under this Agreement on behalf of the Company.
Affiliate Group: The Partner attracts a group of clients and sub-partners.
Promotion Campaign: is the Company’s activities to create and maintain the interest of clients of the Company.
Redirect: is an automatic redirection of a user from the web page they are on another web page or Website.
Company’s Website: otetmarkets.com and other official websites of the Company.
Agent ID: The Company provides the Partner with a unique identification code to register clients attracted by the Partner.
Verified Partner: there is a procedure for documenting the personal data of the Partner. The Partner is considered fully verified if they passed the passport and address verification, after which the status will be changed to "Verified" in the relevant sections of the member's Area on http://my.otetmarkets.com/profile/verification-of-the-documents/.
IB Commission Structure and Tables:
- IB will be eligible to earn a commission on Active Traders.
- An Active Trader is a client who must place at least one trade.
- The IB will be compensated on a trade-by-trade basis.
- IB cannot refer to themselves as Introduced Client (personal trading account), nor can they refer to relatives or other affiliated parties.
- The Company has the right, in the event they identify or assume any abuse on the trading activity of the Introducer, to take any action they deem fit to remedy the situation, including but not limited to detaching the Clients from the Introducer and terminate the Agreement immediately, with written notice.
- The Company reserves the right not to compensate an Introducer if it reasonably believes that:
- Introduced clients are opening and closing trades instantly to generate commissions (rebates).
- Transactions are opened and closed solely for the benefit of earning compensation for the Introducer or any money manager, fund manager, or Strategy manager introduced to the Company.
- Any form of market abuse or market manipulation may have taken place.
- Any transactions opened and closed in less than or equal to 120 seconds will not be compensated to the IB.
- The Company reserves the right to withhold or modify payment, modify or terminate the Agreement if it is deemed that a significant portion of the Introducer’s payment is derived from trading on one account, as well as the total amount of Introducer’s compensation from a trading account exceeds 60% (sixty percent) of total net deposits for that specific account.
- The Company and the Introducer agree that commission will be earned based on the below tables. Please note that in case of inactivity for two months, you will be downgraded to a lower campaign.
In case the Client is unable to keep up with the requirements of each campaign for two months, they would be downgraded to a lower campaign.
- In the Basic campaign, when you have a minimum number of 1 client, you must have a balance of at least 20 USD in your account and also a minimum of one trade with any lot size and a duration of at least 120 seconds.
After evaluating the IBs, the commission table is made available to the accepted individuals through the dashboard.
Conflicts of Interest Policy The scope of the Policy is to ensure that the Company complies with all legislative requirements and the departmental and general internal procedures established by its Internal Procedures Manual and to take all reasonable steps to identify and manage any conflicts of interest that may arise between us and any of our clients or between our clients.The Company is required to establish, implement and maintain a policy on conflicts of interest and provide information regarding the adequate managing of any conflicts of interest between itself, including its managers and employees, tied agents or other relevant persons, as well as any person directly or indirectly linked to them by control, and their clients or between one client and another that arise in the course of providing any investment and ancillary services.
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همراه متعهد شما در معاملات بازارهای مالی
Otet Markets Group LTD
دفتر مرکزی کارگزاری اوتت در کشور قبرس، شهر لیماسول قرار دارد.
برای همکاری به عنوان شریک تجاری اوتت، پس از احراز هویت، وارد حساب کاربری خود شوید و از بخش IB Room روی گزینه Links کلیک کنید تا درخواست فعالسازی لینک IB شما ثبت شود. پس از تایید، به شما یک لینک همکاری داده میشود و هر کاربری با این لینک ثبتنام و معامله کند، کارمزد معاملات او در والت اختصاصی شما به عنوان IB شارژ میشود. در مورد سایر همکاریها نیز میتوانید به ایمیل سازمانی [email protected] پیام ارسال کنید.
کارگزاری اوتت مارکتس به صورت 24 ساعته در 7 روز هفته فعالیت میکند و به دلیل عدم بسته شدن بازارهای رمزارزی، حتی در تعطیلات رسمی نیز واحد پشتیبانی بروکر، آماده پاسخگویی به مشتریان میباشد
اولویت اصلی ما در اوتت مشتریهای ما هستند و با اعتقاد به جایگاه بالای مشتری در کارگزاری خود، اصل و اساس فعالیتهای خود را بر ارائهی امکانات پیشرفته، تسریع و تسهیل تبادلات مالی و پاسخگویی سریع و دقیق به مشتری گذاشتهایم.
بله، شما 24 ساعته 7 روز هفته هر سوال یا چالشی داشته باشید میتوانید از طریق چت آنلاین یا ارسال تیکت با کارشناسان ما در ارتباط باشید. آموزش تصویری تیکت زدن را میتوانید در فایل زیر مشاهده کنید.