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This client agreement (the "Agreement") is entered by and between Brooklimited (the "Company") and the person and/or legal entity that has applied to open a trading account at the Company's trading platform (the "Client"), according to the terms and conditions detailed in this agreement.
Trade Investments ("Trading") means that a contract is being created which gives the Client the right to estimate the direction of change in price of an underlying asset, within a certain time frame determined by the Company. This trading instrument is different from trading in 'options' in a traditional way, since there is a fixed return that is determined at the outset of the trade, such as: there is usually no Stop-Loss order and other features.
Account Opening: Client may apply for an account through the Company's website and the Company will accept such account opening application (the "Trading Account") under the following terms: (i) the Company has received confirmation that the Client has agreed to enter into this Agreement (such confirmation can be made by checking the "I AGREE" button or link on the Company's Internet website (the "Website"), followed by a completed application form (if applicable) and all other Client's information required by the Company to be provided. The Client confirms that Client's information is full, accurate and complete. If there is a change in the information provided by the Client, the Client must notify the Company immediately of any such change.
Usage of the Trading Platform: Usage of the Trading Platform is done through the Account, by a limited license provided by the Company to the Client. The license is personal, non-transferable and is for persons who are older than 18 years old (or older legal age, if the law applicable to the Client's jurisdictions requires a higher legal age) and subject to this Agreement. The Client will not transfer, assign, or enable others to make any use of the license, and/or give the Clients access codes to the Trading Account to anyone. Any damage caused to the Client, the Company and any third party due to breach of this Agreement by Client, shall be under the Client's sole responsibility.
Activation of the Trading Account: The Account will be activated by the Company as soon as the Company has identified the funds credited by the Client to the Trading Account. The Company may activate the Trading Account and permit trading in the Trading Account subject to such limitations, and to the satisfaction of such further requirements as the Company may impose. Where a Trading Account is not activated or is frozen, no funds held by the Company in respect of that Trading Account may be transferred back or to any other person until the Company is satisfied that all Applicable Regulations have been complied with.
Principal or Agent: The Company may act, according to the Company's sole discretion, as principal or as agent on the Client's behalf in relation to any Transaction entered into pursuant to the Agreement. Therefore, the Company may act as the counterparty to the Client's Trading activity. The Client confirms that it acts as the sole principal and not as agent or trustee on behalf of someone else.
Compliance: The Client hereby represents and warrants that his engagement with the Company in this Agreement and his use of the Company's services are in full compliance with the law applicable to the Client.
Trading Platform: The Trading Platform enables trading in exchange rates of different currencies, commodities, and any other financial instruments made available by the Company. The Trading Platform displays indicative quotes of exchange rates of different financial instruments pairs, based on different financial information systems, as the most updated exchange rates in the international capital markets. It is acknowledged by both Parties that due to different calculation methods and other circumstances, different trading platforms and/or markets may display different price quotes.
Payouts: The Client will receive a predetermined payout if his binary option transaction expires in-the-money, and he will lose a predetermined amount of his investment in the Transaction if the option expires out-of-the-money. The predetermined amounts are a derivative of the collateral invested in the transaction by the Client, and will be published in the Trading Platform.
Authorization: The Client authorizes the Company to rely and act on any order, request, instruction or other communication given or made (or purporting to be given or made) by the Client or any person authorized on the Client's behalf, without further inquiry on the part of the Company as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request, instruction or other communication.
Company's Rights: The Company reserves the right, but is not obliged to the following: to set, at its absolute discretion, limits and/or parameters to control the Client's ability to place orders or to restrict the terms on which a Transaction may be made.
Arbitrage: The Company does not allow actions or non-actions based on arbitrage calculations or other methods that are based on exploitation of different systems or platforms malfunction, delay, error etc. The Company is entitled, by its own discretion, to cancel any transaction that has been executed due to or in connection with an error, system malfunction, breach of the Agreement by Client etc.
Cancel Feature Abuse: Company offers a special cancellation feature that allows traders to cancel a trade within a few seconds of execution. Abuse of the cancellation feature can be considered market arbitrage and can result in forfeiture of profits.
Transferring Funds: The Client may transfer funds to the Company with different methods of payment as permitted by the Company from time to time and in any currency (acceptable by the Company), and such funds will be converted and managed in the Trading Platform in US Dollars and/or Euro and/or GBP and/or CAD and/or AUD, as determined by the Company, according to an exchange rate determined by the Company according to the available market rates.
Bank Transfer: When making a bank transfer, the Client must send the Company an authentic SWIFT confirmation, stating full bank account details and proof that the bank account is registered under its name.
Ownership of Funds: Whenever the Client transfers funds to the Company, those funds belong to the Company and will be treated by it as its own for the purpose of securing or covering the Client's present, future, actual, contingent or prospective obligations.
Client's Claim: The Client will not have a proprietary claim over money transferred to the Company, and the Company can deal with it in its own right. In determining the amount of collateral and the amount of the Company's obligations to pay or return money to the Client, the Company may apply such methodology (including judgments as to the future movement of markets and values), as the Company considers appropriate.
Funds as Security: The Funds deposited with the Company by the Client, together with any Profit or other Benefits the Client may be entitled to according to a specific agreement with the Company, shall be used as security for any Transaction, including Trading Losses, Commission and any other fee or debt owed by the Client to the Company, which will be automatically deducted from the Client's equity in the Trading Account with exceptions to activities outside the company’s jurisdiction and control. The Client's Funds shall not accumulate any interest or any other benefits.
Repayment: Repayment of any funds by the Company to the Client will be in cryptocurrency, and to the same account from which the deposit was made unless the Company has decided, at its own discretion, to return the funds to a different account of the Client.
Client's Declaration: The Client declares that all funds that it transfers to the Company do not derive from any criminal or other illegal activity and without any violation of any applicable anti-money laundering laws and regulations.
No Claim for Delays: The Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences originating from a credit company's, banks or other financial institutions rates calculation and/or commission and/or any other debit.
Withdrawals: In case the Client gives an instruction to withdraw funds from the Trading Account, the Company shall pay the specified amount (less any transfer charges, if applicable) once a duly instruction has been accepted and at the moment of payment, the Client's margin requirements have been met. Withdrawal procedure takes less than 45 minutes once the Client's documentation submitted and approved. The Company may cancel the Client's withdrawal order if, according to the Company's discretion, the remaining funds (after the withdrawal) shall be sufficient to continue trading.
Payment Charges: The Company shall debit the Client's Trading Account for all payment charges. If the Client has the obligation to pay any amount to the Company which exceeds the amount held in the Client's Trading Account, the Client shall immediately pay such amount upon the Company's request.
No Physical Delivery: The Company shall not provide physical delivery in relation to any Transaction. As mentioned above, Profit or loss is credited to or debited to or from the Trading Account (as applicable) once the Transaction is closed.
No Brokerage Fees: The Company does not charge brokerage fees or commissions for executing trades.
No Transfer Fees: The Company charges no fee for transfers of funds standing to the credit of a Trading Account from the Company to the Client; currently any upfront credit to the client’s account shall not accrue interest of any kind, the credit must be paid by the client to the Company’s Loan and Credit department.
Additional Charges: The Company may or may not levy an additional charge(s) on transfers of funds to be credited to a Trading Account made by debit card or credit card.
Processing Deposit: The Company will introduce an additional processing deposit which is 25% of the total amount in wallet balance of users who have activated compounding; whereby these security deposits are fully withdrawable and refundable at any time.
Trading Account balances and statements are displayed within the trading platform made available to the Client by the Company. Common terms definitions can be found on the Company's Website.
Withdrawal Requirement: In order to withdraw your profits you must first have at least $10 in your profits account.
Bonus Offers: The Company may offer the Client Bonus as Credit or tangible gifts, from time to time, at its sole discretion.
Forfeiture of Bonuses: Bonuses and profits that are based, even partially, on the use of bonus credit, shall be forfeited in case the Company suspects any act of fraud or breach of the Company's Terms and Conditions by the Client.
Data Safeguarding: The Company shall hold some personal client information due to the nature of the Company's business and relations with the Client. All data collected, whether on paper (hard copy) or on a computer (soft copy) is safeguarded in order to maintain the Client's privacy.
Permitted Disclosures: The Company shall be permitted to disclose and/or use the Client Information for the following purposes: (a) internal use, including with affiliated entities; (b) as permitted or required by law; (c) protection against or prevention of actual or potential fraud or unauthorized transactions or behavior; (d) computerized supervision of Client's use of the services; (e) to protect the Company's rights or obligations to observe any applicable law.
Client Permission: The Client hereby grants permission to the Company to make use of his/her details in order to provide updates and/or information and/or promotion or marketing purposes through the Client's E-mail address or other contact information.
Record Keeping: The Client agrees and acknowledges that the Company may record all conversations with the Client and monitor (and maintain a record of) all emails sent by or to the Company. All such records are the Company's property and can be used by the Company, among other things, in the case of a dispute between the Company and the Client.
Affiliation: The Company may share commissions and charges with its associates, introducing brokers or other third parties ("Affiliates"), or receive remuneration from them in respect of contracts entered into by the Company.
Cookies: The Company's Trading Platform, Website, or other services may require the use of 'Cookies'.
Client Responsibility: The Client represents that it has been solely responsible for making its own independent appraisal and investigations into the risks of any Transaction. The Client represents that it has sufficient knowledge, sophistication, and experience to make its own decision of the merits and amount of capital to carry out any Transaction.
No Advice Provided: The Company does not advise its Clients in regard to the expected profitability of any Transaction, and any tax or other consequences. The Client acknowledges that he has read and understood the Risk Disclosure Document which sets out the nature and risks of Transactions to which this Agreement relates.
Market Commentary: Where the Company does provide market commentary or other information: (a) this is incidental to the Client's relationship with the Company; (b) it is provided solely to enable the Client to make its own investment decisions.
Liability Disclaimer: The Company shall not be responsible for the consequences of the Client acting upon such trading recommendations or market commentary.
Liability Disclaimer: The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client.
No Obligation: The Company is under no obligation to assess the appropriateness of any Transaction for a Client, to assess whether or not the Client has the necessary knowledge and experience to understand the nature of and risks associated with the Transactions. All risks related to the above are under the sole responsibility of the Client.
Tax Responsibility: Any tax applying on the Client and/or results from the Client's trading activity, including trading profits and/or trading losses and/or any charges and/or deductions, shall be under the Client's full and sole responsibility. The Client shall personally report and pay any personal, federal, state and local tax liability he is obligated to, if applied. The Company serves as a mediator only and does not collect, deduct, pay or withhold tax from the Client. The Company reserves the right, if ordered by an official entity, to deduct tax from the Client and deliver it to the proper tax authority as ordered by the official entity.
Termination Notice: Either party may terminate this Agreement by giving 10 (Ten) business days written notice by email to the other party. Either party may terminate this Agreement immediately in any case of any breach of this Agreement or event of Default by the other Party. Upon terminating notice of this Agreement, the Client shall be under the obligation to close all open positions; otherwise, the notice shall become void, or the Company shall have the right to close all open positions without assuming any responsibility. Such closure may result in an outcome that would be less favorable for the Client.
Outstanding Rights: Termination shall not affect any outstanding rights and obligations according to the applicable law and the provisions of this Agreement.
Immediate Payment: Upon termination, all amounts payable by either party to the other party will become immediately due.
Service Disclaimer: THE SERVICES OF THE COMPANY ARE PROVIDED "AS IS" AND "AS AVAILABLE", AND COMPANY MAKES NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE COMPANY DOES NOT WARRANT THAT ANY AFFILIATED SOFTWARE, SERVICES OR COMMUNICATION THAT MAY BE OFFERED OR USED BY THE CLIENT SHALL ALWAYS BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. THE COMPANY WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM TRADING OR THE USE OF THE COMPANY'S SERVICES, INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES.
Trading Platform Acknowledgment: Client acknowledges and agrees that the Trading Platform follows the relevant market, whether the Client is in front of his computer or not, and whether the Client's computer is switched on or not, and will exercise the order left by the Client if applicable.
Indemnification: The Client shall, upon first demand by the Company, compensate the Company from and against all liabilities, damages, losses and costs (including reasonable legal costs), duties, taxes, charges, commissions or other expenses incurred by the Company.
Set-off Rights: The Company shall have the right to set-off any amount owed by the Company to the Client against any debt or other obligation of the Client towards the Company. In any event of Default of Client (voluntary or involuntary insolvency procedures against the Client), all debts, future debts and other obligations of the Client towards the Company shall become immediately due.
Amendments: The Company has the right to amend the Agreement without obtaining any prior consent from the Client. If the Company makes any material change to the Agreement, it will give at least 10 (Ten) Business Days' notice of such change to the Client. Such amendment will become effective on the date specified in the notice.
Partial Invalidity: If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.
Joint Account: If the Trading Account is a joint account (in the name of more than one entity), then each of the entities in the Trading Account shall be authorized to represent the other entities towards the Company, with no requirement of any prior notice or approval from the other entities.
Notices: Unless otherwise agreed, all notices, instructions and other communications to be given by the Company shall be given to the address or fax number provided by the Client, or via e-mail or other electronic means, details of which are provided by the Client to the Company.
Governing Law: These Terms and any relationship between the Company and the Client shall be governed by law applicable in Scotland and subject to the exclusive jurisdiction of Scottish courts.
No Right to Assign: No rights under this Agreement shall be assignable nor any duties assumed by another party except to/by an affiliate of The Company. Upon assignment to an Affiliate of the Company, the terms of this Agreement may be amended to fit any applicable regulation effective upon the assignee, and Client hereby consents in advance to such regulatory modifications to this Agreement.
Dormant Trading: If the Client does not perform any trading activity or his trading activity is in very low volume for the time period defined by the Company, or if the Client does not hold minimum funds in his Trading Account, defined by the Company, the Company may charge the Trading Account with Dormant Trading commission, close any open trade and/or the Client's access to the Trading Account, and/or terminate this Agreement.
Language, Notices and Complaints: All communications between the Company and the Client will be in English or in any language suitable both to the Client and the Company.
Force Majeure: The Company shall not bear responsibility for any harm or any form which shall be caused to the Client in the event that such harm is the result of a force majeure and any outside event which is not in the control of the Company which influences Trading.
We wish you successful trade investment!
Signatures:
Both parties agree to the terms outlined in this Agreement and acknowledge their understanding and acceptance by signing below.