Disclaimer: we do not accept USA clients.
You shall bear in mind, that the English form of the T&C of this website is translated to other languages, only for convenience. In case of any contradiction between the English form of the T&C and any translated form of the T&C, the terms of English form will govern any translated form.
1. The terms and conditions displayed here have been written with the specific purpose to govern the legal relationship between you, the client), and us, the company fiting Ltd., editor of website www.Bitsevens.com. Bitsevens is an online trading platform for Binary Options, where customers can trade with options for stocks, index, commodity and currencies.
2. By use of the services offered by the Company, the Client hereby acknowledge his irrevocable acceptance of, and compliance with, all the terms and conditions stated herein, and his being of full, unlimited, unrestricted legal capacity to execute transactions offered by this site. The client hereby declares that his personal details, where applicable, are complete, up to date, and correct.
3. The Company reserves the right at any time, to amend, alter, modify or change, as it sees fit, any term of these terms without any prior notice, and the Client hereby agrees to conform to the current version as published in this site. Client hereby agrees that the Company reserves the sole right at any time, and in its sole discretion, to choose the assets on which options will be traded on the Site, the way they will be calculated and shall also have the right to change them at any time.
4. Words and expressions herein using the masculine gender shall also refer to the feminine gender, and words and expressions using persons, shall include also incorporated bodies.
5. The time presented on this site and/or concerning any activity shall be based on the GMT time zone.
6. All intellectual property, including but not limited to, content, information, patents, trademarks, copyrights, modules, techniques, know-how, algorithms, methods of doing business, user interfaces (UIs), graphic design, look and feel, and software; and all developments, derivatives, and improvements thereto, whether registered or not (the “IP” or “Intellectual Property”), are owned in their entirety by the Company and/or by third parties who has granted the Company license to use such IP. All rights reserved.
7. The Client is hereby given a limited non-exclusive right to use the IP included in this site for his personal, non-commercial, non-transferable use, with regards to the services offered on this site only. Unless expressly stated herein Company grants no other IP right or license to the Client. The Client hereby undertakes not to duplicate or transfer any of his rights without prior written consent of the Company, nor to change, edit or remove any material from the Site. Without derogating from the aforesaid, Client is authorized to print only one copy printout from the site for his personal use.
8. The Company may include in the site information, data, links, promotional offers or any other content in any form, including financial content of third parties. Such content is provided only for the Client’s convenience and as an extra service, and will not be considered as advising. In no case, Company shall be responsible for, or shall it deem to give any representation with regard to such content.
9. You understand that while the Internet and the World Wide Web generally are dependable, technical problems or other conditions may delay or prevent you from accessing the Website. We shall not be liable for, and you agree not to hold or seek to hold us or any of our agents or service providers liable for, any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high Internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects. We do not represent, warrant or guarantee that you will be able to access or use the Site at times or locations of your choosing, or that we will have adequate capacity for the Site as a whole or in any geographic location. We do not represent, warrant or guarantee that the Site will provide uninterrupted and error-free service. We do not make any warranties or guarantees with respect to the Site and its content, including without limitation, warranties for merchantability or fitness for a particular purpose.
10. The client hereby accepts that there is no way to cancel any order or transaction once it has been executed. Without derogating from the aforementioned statement, the client understands such limitations by pressing on the Trade icon.
11. You hereby represent and warrant (which representations and warranties shall be deemed to be repeated by you on each date on which a transaction is entered into via the Site) that: a. you have full power and authority to bind yourself by these Terms and Conditions, each transaction and any other documentation relating thereto, and to perform your obligations thereunder and each transaction and have taken all necessary action to authorize such execution, delivery and performance; b. any such execution, delivery and performance will not violate or conflict with any law applicable to you, any provision of any constitutional documents or any charge, trust deed, contract or other instrument or any contractual restrictions applicable to, binding on or affecting you or any of your assets or oblige you to create any lien, security interest or encumbrance; c. all information provided by you is true and accurate in all respects. d. all governmental, regulatory and other consents that are required to have been obtained by you in relation to the Site have been so obtained and are in full force and effect and all conditions of any such consents have been complied with; e. your obligations under these Terms and Conditions constitute your legal, valid and binding obligations, enforceable in accordance with their respective terms; f. You will comply with all laws, rules, regulations and disclosure requirements of any relevant jurisdiction, exchange, market or regulatory authority which apply in respect of us, you or your investments from time to time; f. You will promptly give (or procure to be given) to us such information and assistance as we may reasonably require to enable us to assist or achieve compliance with any of the obligations mentioned in relation to your Account or the Site; g. where we provide you with an execution-only service you have the capacity to evaluate and understand the terms, condition and risks of each transaction (whether or not recommended by us) entered into hereunder and you are willing and able to accept those terms and conditions and to assume (financially and otherwise) those risks; h. you are acting as principal in any transactions on the Site and each transaction thereunder; i. if you are in default of any of these Terms and Conditions you will give us notice as soon as you become aware of such occurrence.
12. The Company will be bounded only to information and/or orders supplied by either party to the other party in writing. The Client is aware that our site offers high-risk speculative investments that might be illegal in his jurisdiction. Therefore, the Client assumes all responsibility of validity and legality of his actions with respect to this Website. Trading in Binary Options and/or any other Options, as may be offered by our Website, could be regarded as a highly speculative investment. This kind of investment carries the risk of losing the Client’s capital in a short period, therefore the Client declares that he fully understands the underlying risks involved and should seek for independent advice
13. Before entering into a limited liability transaction, you should obtain from us a formal written statement confirming that the extent of your loss liability on each transaction will be limited to an amount agreed by you before you enter into the transaction. The amount you can lose in limited liability transactions will be less than in other margined transactions, which have no predetermined loss limit. Nevertheless, even though the extent of loss will be subject to the agreed limit, you acknowledge that you may sustain the loss in a relatively short time. Your loss may be limited, but the risk of sustaining a total loss to the amount agreed is substantial.
14. The Company’s liability, to compensate for damages incurred by client, shall be limited to direct damages that client can prove by a final judgment to have incurred, up to a maximum amount equal to the funds client has deposited in his account with the Company. In no case, shall the Company be liable for consequential or special damages (including loss of profits) whether based on contract, tort or any other legal theory, caused to the Client or to third parties. The Client will indemnify and hold the Company and any and all of its related companies, employees, agents and/or officers (“Representatives”) harmless upon any liability and/or claim, in connection with the use of these Site by the Client, including but not limited to any breach of legal requirement or of these Terms by the Client.
15. We shall not be liable for any breach of obligation or default of any counterparty, intermediate broker, bank, custodian, sub-custodian, market or market operator, exchange, clearing house, depositary or other third party with whom you do business. We will not be liable for loss suffered by you in connection with the Site unless such loss directly arises from our negligence, willful default or fraud. You will pay us on demand all commissions and other charges due to us, premiums on any option purchased on your instructions, such sums as we may at any time require in or towards satisfaction of any debit balance on your Account or any account comprised therein, and the amount of any trading loss that may result from any transaction hereunder, interest and service charges due to us on the Account and our reasonable costs and legal fees incurred in collecting any such amounts. All payments shall be made in same day and freely transferable funds in such currency and to such bank as we may from time to time specify. Further, you undertake to keep us and our agents and employees fully and effectively indemnified against all costs, charges, liabilities and expenses whatsoever incurred by us and them pursuant to or in connection with the Site unless due to our or their negligence, willful default or fraud. This clause will survive termination of any Agreement between you and us.
16. We shall not be liable for any loss, expense, cost or liability (together “Loss”) suffered or incurred by you unless and to the extent that such Loss is suffered or incurred as a result of our negligence or willful default or indirect or consequential loss or damage (whether for loss of profit, loss of business or otherwise), costs, expenses or other claims for consequential compensation whatsoever (howsoever caused) which arise out of or in relation to this Agreement; or loss suffered or incurred by you as a result of any error in any order, instruction or information given by you, the Client, or as a result of us acting on any order or instruction which is, or appears to be from you. You indemnify us against any claim, cost or expense incurred by us as a consequence of any claim made by any of you against us as a consequence of any acts or omissions by any of you.
17. The Company shall not be liable or responsible for any damage, in case of a force majeure event not in Company’s control.
18. You acknowledge that margined currency and option trading is one of the riskiest forms of investment available in the financial markets and is only suitable for sophisticated individuals and institutions. Prices in margined currency trading are highly volatile… The funds in an account trading at maximum leverage can be completely lost, if the position(s) held in the account has a two percent swing in value. Given the possibility of losing an entire investment, speculation in the foreign exchange market should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial wellbeing. You confirm that the funds you will use on the Site are purely risk capital and loss of your investment will not jeopardize your style of living nor will it detract from your future retirement program. Additionally, you fully understand the nature and risks of currency and currency options investments, and your obligations to others will not be neglected should you suffer investment losses.
19. Client’s withdrawal orders from the account shall be executed by refund to client`s Bitcoin wallet. Withdrawals shall be made according to the site procedures and will take up to fourteen (14) working days or as determined by the billing services provider of the site, the longer between the two. Please note that the minimum amount that you can request to withdraw is 250 mBTC In the Case Client wishes to cancel a withdrawal request he can do so only with respect to withdrawal request that was not completed yet and to which a withdrawal confirmation was not sent yet) and not a request already executed. In case more than one withdrawal request were sent by the Client, and afterwards he requests to cancel part/all of the withdrawal orders, the earlier withdrawal order will be cancelled, and so on.
20. Adjustments shall be made to the options’ prices, according to the adjustments made with respect to the base assets, in case Client has an open transaction in such option whilst such adjustment made to the base assets. Client hereby agrees that the Company has the exclusive right to round the last digit of any asset.
21. Bonus Turnover Policy – Bitsevens offers a number of attractive reward features to its new and regular customers. Bonuses and one time trading credits rewarded to customers are part of Bitsevens’s promotions program. These bonuses are limited time offers and the terms and conditions associated with any bonus rewards are subject to change. If you receive a bonus and you have made profits during the bonus period, you will be required to execute a minimum trading volume of 30 times for every mBTC 1 bonus. The profits can only be withdrawn when the preceding stipulation has been fully met and fulfilled. Any indication of fraud, manipulation, cash-back arbitrage, or other forms of deceitful or fraudulent activity based on the provision of the bonus will nullify the account and any and all profits or losses garnered.
22. Traders are only permitted to open one trade per 2 minutes on any specific contract that goes on the same asset, direction, and expiry time. Also, closing a contract is allowed once per contract. In the case whereby a trader violates this rule, either intentionally or unintentionally, The Company reserves the complete and full right to cancel the trade and return the contract premium. At its own digression, The Company may take action against any trader who has knowingly exploited technical issues and ban them permanently from the Company.
23. The Client declares that he understands that due to legal regulations the Company may withhold or deduct payments of any taxes of any kind, limit the services provided herein, freeze accounts pursuant to any official legal order or action, or any other action or restriction as be required by legal authorities or other authorities as determined by relevant regulations. The Client will indemnify and hold the Company and its employees and Representatives harmless upon such action and will not have any right to prevent such action, as Company sees fit, in order to fulfill any such legal order or action.
24. The Client hereby declares that he keeps his username and password safe from any third party, and undertakes to notify the Company of any suspected misuse of his account or personal information. For the Client’s protection, all login information must be kept confidential. In the event that the Client provides login information to a third party, the Company will no longer be able to accept liability for the funds in the Client’s account.
25. The Client hereby declares that he is aware to the fact, that technical difficulties might prevent the Client access to the Website or his ability to execute certain actions on this Website. The Company assumes no responsibility for such events, as may occur from time to time. Under no circumstances, shall the Company be responsible for problems in servers, bandwidth or software systems.
26. The Client acknowledges that there are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software and Internet connection. Since we do not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we will not be responsible for communication failures, distortions or delays when trading via the Site.
27. The Client hereby agrees to conform to all Anti Money-Laundering (AML) regulations and “Know Your Client” (KYC) procedures relevant to his jurisdiction, including the supplying of official bank reference letters, utility bills and any other sort of official identification documentation as may be required by the Company. This is a condition precedent to use of the Site.
28. These Terms are for an unlimited period of time, but the Company shall be entitled to terminate it by a written notice. In such case, Client shall be prohibited from opening new accounts or executing new transactions without prior written approval from the Company.
29. In case Client commits any of the following: i. violates any of his obligations under these Terms;
30. Becomes bankrupt, insolvent or in procedure of insolvency, reorganization, bankruptcy, or any similar procedure; or by its sole discretion, the Company finds it necessary in order to protect itself against any damages might occur to it due to Client’s actions or commissions. at its sole discretion, and at any time and with no prior notice to the Client, the Company may:
(1) transfer, pledge, or sell the balance and/or securities in the account(s);
(2) cancel, terminate, and/or close any or all of the open transactions;
(3) set off any damages caused to it; or
(4) take any action which its sees fit to cure any violation of the Client.
In case there is no transaction in the account during a 12 months period, the Company shall be entitled to close the account by after giving Client a 5 days written notice. The Company may cease or limit any or all trade activities on the Site with no prior notice. Client hereby waives any and all claims or rights of indemnification for any allegedly damages caused by such rescission, whether for executed transactions or for transactions supposed to be executed.
31. In the event that suspected fraudulent trading activity, system arbitrage, some other form of exploitation has taken place, The Company reserves the right to launch an investigation that can take up to 45 days. The Company reserves the right to permanently ban any trader who has knowingly committed any of the aforementioned activities and possibly also report it to any relevant parties.
32. The Company is fully entitled to assign, grant, transfer or sublicense any and all of its rights provided for herein, wholly or in part, to any third party whatsoever. By no means shall the Client be entitled to do any of the above in respect of Client’s rights provided for herein, whether to other Site’s Clients or to others
33. Should any provision herein be deemed void or invalid by any court of law having proper jurisdiction, such provision shall be severed, and shall not in any way vitiate or detract from the effect and/or validity of any or all remaining provisions herein. The Company’s acquiescence to any breach of these Terms and/or failure to exercise any right provided for herein shall be without prejudice to The Company’s legal rights and remedies, and shall not be held to preclude and/or debar it from exercising or seeking any of the same.
34. You acknowledge that we may record telephone conversations with you without the use of a warning tone, and may use the recordings as evidence in the event of a dispute. We will destroy any recordings or transcripts in accordance with our normal destruction policy in place at that time (currently 3 years).
35. All notices and other communications required or permitted hereunder to be given to a party to this Agreement shall be in writing. Notices to the Client are to be given to the contact details given by him during account opening process, and which may be amended by him by a written notice to the Company. All correspondence and notices that will be sent to the Client shall be deemed delivered: (1) at their time of delivery if sent (a) by hand delivery; (b) to Client’s e-mail address, or (c) by facsimile; or (2) within five business days if delivered by posted mail. All correspondence and notices that will be sent by the Client to the Company shall be deemed delivered only upon actual receipt by the Company and subject to its written confirmation as such.
36. Expiry rate is computed from the Bid & Ask prices ((Bid + Ask)/2) which are the closest price offers to the expiry time. The last digit of the calculated price is rounded up if 5 and above, and down if otherwise.
37. Clients are not allowed to have more than one funded account. Clients who have multiple accounts registered under the same name may have one or all of the accounts closed, subject to management decision. Furthermore, clients with multiple accounts in which multiple investments are made with varying names and/or sources may have all the accounts closed, and investments returned per management decision. It is most advisable to open only one account, and to invest using your own funds
38. In the event that trading prices are set incorrectly, or other related technical error accrues, Bitsevens will review the error, and at fault we will refund you your investment of that trade. Bitsevens will not refund any trades that are made by error or mistake from the trader.
39. Refund Policy- Clients can, at any time withdraw, or receive a refund. All Withdraw and Refunds are subject to the terms and conditions of the Bonus policy. It is therefore the right of the company to refuse a withdrawal of customer funds IF said requirements have not been met. The company can from time to time decide to allow a withdrawal, if it sees fit to do so, but is under no obligation to fulfill this request if the customer agrees to the terms and conditions of the bonus.
40. Withdrawals without turnover – All withdrawals requests are subject to turnover requirements. Once you have made a deposit in your account, you are required to turnover the amount of your deposit at least ONE time. (i.e – if you deposit mBTC250 in your account, you are required to place at least mBTC250 worth of trades.) If you do not meet this requirement, you will subject to a mBTC30 processing fee.
* If you have accepted a bonus in your account, you will be subject to our bonus turnover policy.
41. Inactivity Fee - It is the sole responsibility of the client to keep their account active. An inactivity paying fee shall be assessed on all account which have had zero active trades in calendar (30 days). For further instructions the client shall contact his Financial Adviser.
42. The client that has an account above 100,000.00 $ may be asked to pay for VAT (tax added value) which is based on the eligible laws of IRS (Internal Revenue Service) and the SEC (Securities and Exchange Comission).
For any other queries in regards to our Terms & Conditions, kindly contact our live support or contact us directly at firstname.lastname@example.org