In consideration of Holiway Investments Limited (hereafter the “Company” or “Holiway”) agreeing to enter into Binary Options Trading with the undersigned (hereinafter referred to as the “Customer”, “you”, “your”), Customer acknowledges, understands and agrees that:
Trading Binary Options is highly speculative, involves a significant risk of loss and is not suitable for all investors but only for those customers who:
Binary Options is not an appropriate investment for retirement funds. Binary Options are among the riskiest types of investments and can result in the loss of your entire investment. Customer represents, warrants and agrees that Customer understands these risks, is willing and able, financially and otherwise, to assume the risks of trading Binary Options and that the loss of Customer’s entire account balance will not change Customer’s lifestyle.
Customer understands that Binary Options Trading can only be settled in cash.
Holiway is the counterparty to all transactions entered into under the customer agreement and, as such, Holiway’s interests may be in conflict with yours. Our conflicts of interest policy is available at Holiway’s website.
There is no central clearing and no guarantee by any other party of Holiway’s payment obligations to the Customer, thus Customer is exposed to credit risk with Holiway. Customer must look only to Holiway for performance of all contracts in Customer’s account and for return of any collateral.
Holiway will provide prices to be used in trading, valuation of Customer positions and determination of Margin requirements in accordance with its Terms & Conditions.
The performance of your Binary Options Contract will depend on the prices set by Holiway and market fluctuations in the underlying asset to which your contract relates. Each underlying asset therefore carries specific risks that affect the result of the Binary Option concerned.
The prices for a given market are calculated by reference to the price of the relevant underlying asset which we obtain from third party external reference sources or exchanges. For our Binary Options contracts, we obtain price data from wholesale market participants. Although Holiway expects that these prices will be reasonably related to prices available in the market, Holiway’s prices may vary from prices available to banks and other market participants. Holiway has considerable discretion in setting and collecting margin. Holiway is authorized to convert funds in Customer’s account for margin into and from such foreign currency at a rate of exchange determined by Holiway in its sole discretion on the basis of then-prevailing money market rates.
You have no rights or obligations in respect of the underlying instruments or assets relating to your Binary Options Trading. The Customer understands that Binary Options can have different underlying assets, such as stocks, indices, currencies and commodities, as specified in the asset index page of Holiway’s website.
Where Holiway provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and have not considered any of your personal circumstances or your investment objectives, nor is it an offer to buy or sell, or the solicitation of an offer to buy or sell, any Binary Options. Each decision by Customer to trade Binary Options with Holiway and each decision as to whether a transaction is appropriate or proper for Customer, is an independent decision made by the Customer. Holiway is not acting as an advisor or serving as a fiduciary to Customer. Customer agrees that Holiway has no fiduciary duty to Customer and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with Customer following Holiway’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by Holiway.
The generic market recommendations provided by Holiway are based solely on the judgment of Holiway’s personnel and should be considered as such. Customer acknowledges that Customer enters into any Transactions relying on Customer’s own judgment. Any market information, reports, education videos and ebooks provided by the Company to the Customers is for informative purposes only, and in no way should be considered as a recommendation of investment advice based on the personal circumstances or investment objectives of the Customer to enter into a transaction with the Company.
Therefore, the Customer agrees and accepts that by using such information the Company shall not be responsible fo any decision by the Customer to enter into a binary option contract with the Company. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of Holiway and/or its affiliates. The generic market recommendations of Holiway are based upon information believed to be reliable, but Holiway cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will reduce or eliminate the risk inherent in trading Binary Options.
The Company nor any of the Company’s representatives offer guarantees of profit nor of avoiding losses when trading Binary Options before and/or after the Customer enters into a transaction with the Company. Customer is aware of the risks inherent in trading Binary Options and is financially able to bear such risks and withstand any losses incurred.
When Customer trades online (via the internet), Holiway shall not be liable for any claims, losses, damages, costs or expenses, caused, directly or indirectly, by any malfunction, disruption or failure of any transmission, communication system, computer facility or trading software, whether belonging to Holiway, Customer, any exchange or any settlement or clearing system.
Holiway is not responsible for disruption, failure or malfunction of telephone facilities and does not guarantee its telephone availability. For the avoidance of doubt, Customer is aware that Holiway may not be reachable by telephone at all times. In such cases Customer shall place his/her order through other means offered by the Company.
Should a quoting error occur (including responses to Customer requests), Holiway is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments to the relevant Account.
Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by Holiway in its sole discretion and acting in good faith, of the relevant market at the time such an error occurred. In cases where the prevailing market represents prices different from the prices Holiway has posted on our screen, Holiway will attempt, on a best efforts basis, to execute Transactions on or close to the prevailing market prices. These prevailing market prices will be the priceswhich are ultimately reflected on the Customer statements. This may or may not adversely affect the Customer’s realized and unrealized gains and losses.
Holiway participates in the Investor Compensation Fund for clients of Investment Firms regulated in the Republic of Cyprus. Customers will be entitled to compensation under the Investor Compensation Fund where we are unable to meet our duties and obligations arising from your claim. Any compensation provided to you by the Investor Compensation Fund shall not exceed twenty thousand EUR20.000. This applies to your aggregate claims against us. Please view our Investors Compensation Fund Policy for more information.
The Company has the right to amend the current Policy as per its discretion and at any time it considers is suitable and appropriate. In such an event the Company will notify the client accordingly. The Company shall review and amend the current policy at least on an annual basis. The Policy is available for review by clients upon request and it is uploaded to the Company’s website.