Service Agreement

1Terms and definitions

The words below carry the meaning given here wherever they appear in this Agreement, whether capitalised or not.

1. 1.1Asset — a financial instrument whose price movement a Trade is based on. An Asset may be a currency pair, a commodity, a stock, an index or a synthetic instrument offered on the Platform.
2. 1.2Asset Rate (Quote) — the price of an Asset as displayed in the Trading Terminal. Rates are derived from the Company's market data sources and are the rates on which Trades are opened and settled.
3. 1.3OTC Asset — a synthetic instrument generated by the Company's own pricing engine, available outside the hours of the underlying real market. An OTC Asset is marked as such in the Trading Terminal and does not track a specific exchange.
4. 1.4Digital Trade — a contract under which the Client stakes an amount on whether the Asset Rate at the Expiry Time will be above or below the Entry Price.
5. 1.5Entry Price — the Asset Rate recorded by the Company's server at the moment a Trade is accepted. The Entry Price is set by the server, never by the Client's device.
6. 1.6Expiry Time — the moment at which a Trade is settled. It is computed on the Company's server from the duration or wall-clock time selected by the Client.
7. 1.7Payout Percentage — the percentage of the Trade Amount returned as Income on a winning Trade. It is displayed against each Asset and is fixed at the moment the Trade is accepted.
8. 1.8Income — the amount credited to the Client's Account when a Trade settles in the Client's favour, being the Trade Amount plus the Payout Percentage of that amount.
9. 1.9Live Account — the Client's account holding real funds. Deposits, withdrawals and Income are settled against this account.
10. 1.10Demo Account — an account funded with simulated credit for practice. Demo balances carry no monetary value, cannot be withdrawn, exchanged or transferred, and may be reset by the Client or the Company at any time.
11. 1.11Tournament Account — a separate balance opened when the Client enters a Tournament. It is funded with the starting balance stated for that Tournament and may only be used for Trades within it.
12. 1.12Trading Terminal — the software through which the Client views Quotes and places Trades, whether accessed through a browser or an application.
13. 1.13Server Log — the Company's own record of every request, order and settlement, timestamped to the millisecond. Where the Server Log and any other record disagree, the Server Log prevails.
14. 1.14Operation — any Trading Operation or Non-Trading Operation on the Client's Account.
15. 1.15Non-Trading Operation — a deposit, withdrawal, adjustment, bonus credit or any other movement of funds that is not a Trade.
16. 1.16External Account — an account, wallet or payment instrument held by the Client outside the Platform, to which withdrawals are sent.
17. 1.17Verification — the identity and source-of-funds checks the Company carries out before processing withdrawals, as described in section 6.
18. 1.18Where a term is used in this Agreement but not defined above, it carries the meaning ordinarily given to it in the trading of derivative financial instruments.

2General provisions

1. 2.1This Agreement governs the relationship between the Company and any person who registers an Account on the Platform. Registration constitutes acceptance of this Agreement in full.
2. 2.2This Agreement is an invitation to treat. It is not a public offer, and the Company is under no obligation to open an Account for any particular applicant.
3. 2.3The Company may decline to open an Account, and may close an existing Account, without being required to give reasons — subject always to the Client's right to withdraw funds properly credited to them.
4. 2.4The Company may amend this Agreement. Material changes take effect on the date published on this page, and the current version is always the one shown here. The version number and effective date at the top of this document identify which text is in force.
5. 2.5Continuing to use the Platform after a change takes effect constitutes acceptance of the amended Agreement. A Client who does not accept a change may close their Account and withdraw their balance, subject to Verification and to any Trade still open.
6. 2.6The following documents form part of this Agreement: the Privacy Policy, the Risk Disclosure, the rules of any Tournament the Client enters, and any payment terms published at the point of deposit or withdrawal.
7. 2.7If any provision of this Agreement is held unenforceable, that provision is severed and the remainder continues in force.

3Subject of the Agreement

1. 3.1The Company provides the Client with access to the Trading Terminal and the ability to enter into Digital Trades on the Assets offered there, on the terms set out in this Agreement.
2. 3.2The Company acts as the Client's counterparty. It does not act as the Client's agent, adviser or portfolio manager, and it does not manage the Client's Account.
3. 3.3No physical delivery of any Asset occurs. A Trade is settled in cash against the Client's Account.
4. 3.4The Company may set and vary the Assets offered, their Payout Percentages, minimum and maximum Trade Amounts, available durations and the number of Trades that may be open at once. Changes apply to Trades opened after the change and never to Trades already accepted.
5. 3.5The Company may engage third parties for market data, payment processing, identity verification and infrastructure. The Company remains the Client's counterparty for every Trade.

4Accounts and balances

1. 4.1The Client may hold one Account only. Where the Company identifies multiple Accounts controlled by the same person, it may suspend all of them and, where the additional Accounts were used to obtain an advantage, reverse the resulting balances.
2. 4.2The Live Account, the Demo Account and any Tournament Account are separate balances. Funds never move between them except as expressly provided in this Agreement — an entry fee leaving the Live Account, or a Tournament prize arriving in it.
3. 4.3Demo balances are simulated. They have no monetary value and no claim of any kind arises from them.
4. 4.4A Trade Amount is debited from the relevant balance when the Trade is accepted. On a winning Trade the stake is returned and the Payout Percentage is credited as Income. On a losing Trade the stake is not returned. Where the Expiry Rate equals the Entry Price exactly, the stake is returned in full and no Income arises.
5. 4.5Accounts are denominated in US dollars. Deposits made in another currency or in cryptocurrency are converted at the rate applied by the payment provider at the time of the deposit.
6. 4.6The Client is responsible for every Operation carried out through their Account. Access credentials must not be shared, and the Company treats any Operation authenticated with the Client's credentials and email code as the Client's own.
7. 4.7Where the Company credits an amount in error, it may reverse that credit. It will notify the Client of any such reversal.

5Trading rules

1. 5.1A Trade is concluded when the Company's server accepts it. Until then no contract exists, and the Company may decline a Trade without giving reasons.
2. 5.2The Entry Price, the Expiry Time, the Payout Percentage and the settlement Quote are all determined by the Company's server. Values displayed on the Client's device are indicative and may lag the server.
3. 5.3Where a Trade is opened against a wall-clock expiry with less than thirty seconds remaining, the Expiry Time rolls forward to the next available minute. This is applied by the server and is shown in the Trading Terminal before the Trade is placed.
4. 5.4A Pending Trade reserves the stake at the time it is placed and takes its Entry Price at the moment it activates, not at the moment it was scheduled. If the Asset is closed when it activates, the stake is returned in full.
5. 5.5Real-market Assets are tradable only while their underlying market is open. OTC Assets remain available outside those hours and are clearly marked. The Company may suspend any Asset where its price source becomes unavailable or unreliable.
6. 5.6The Client must not use, and must not attempt to use: automated or algorithmic order placement not provided by the Company; arbitrage against latency, stale quotes or errors in the Quote stream; coordinated trading across Accounts; or any defect in the Platform.
7. 5.7Where the Company establishes that a result was obtained by any means described in clause 5.6, it may void the affected Trades and reverse the resulting balances. The Company will state which Trades are affected and why.
8. 5.8Where a Quote is manifestly erroneous — a price that did not occur in the underlying market — the Company may settle affected Trades at the correct rate or void them. This applies whether the error favoured the Client or the Company.

6Deposits, withdrawals and verification

1. 6.1Deposits are credited once the Company has confirmation from the payment provider. A deposit request expires if payment is not received within the window shown at the time it is created.
2. 6.2Deposits and withdrawals must use payment instruments held in the Client's own name. Third-party instruments are not accepted, in either direction.
3. 6.3A withdrawal request is confirmed by a code sent to the Client's registered email address. The requested amount is reserved from the available balance at the moment the request is made.
4. 6.4Where a withdrawal request is declined or cancelled, the reserved amount is released back to the available balance in full. Where it is approved, it is sent to the External Account given in the request.
5. 6.5The Company carries out identity and source-of-funds checks before processing withdrawals, and may request documents at any time. Where requested documents are not provided, withdrawals remain unprocessed until they are.
6. 6.6The Company may decline a withdrawal where it has reasonable grounds to believe the funds derive from Operations carried out in breach of section 5, or where required to do so by law.
7. 6.7Payment providers may apply their own fees and limits. Any fee applied by the Company is shown in the withdrawal form before the request is confirmed.
8. 6.8Bonus credit, where offered, is subject to the conditions published with it. Bonus credit is not withdrawable in itself, and the Company may remove unused bonus credit when a withdrawal is made.

7Tournaments

1. 7.1A Tournament is a contest run over a fixed period on a separate Tournament Account. Its entry fee, starting balance, duration, rebuy terms and prize table are published before it opens and do not change once a Client has entered.
2. 7.2The entry fee is taken from the Live Account once, at the moment of entry. It is not refundable except where the Company cancels the Tournament.
3. 7.3Placing is determined solely by the Tournament Account balance at the Tournament's end. Where two balances are equal, the Client who entered first places higher.
4. 7.4Prizes are credited to the Live Account when the Tournament finishes. Where a Tournament is cancelled, every entry fee is returned in full and no prizes are paid.
5. 7.5Trades placed on a Tournament Account move that balance only. They do not affect the Live or Demo balance, and a Tournament Account cannot be withdrawn.

8The Client's undertakings

1. 8.1The Client confirms that they are at least 18 years old, of full legal capacity, and acting on their own behalf and at their own expense.
2. 8.2The Client confirms that using the Platform is lawful where they live, and that they are not a citizen or resident of any jurisdiction in which the Company does not offer its services. The Client is responsible for establishing this before registering.
3. 8.3The Client confirms that funds deposited are lawfully theirs, are not subject to any pledge, charge or claim, and do not derive from any unlawful activity.
4. 8.4The Client agrees to keep their registration details accurate and to update them within a reasonable time of any change.
5. 8.5The Client agrees not to use the Platform for money laundering, terrorist financing, fraud or any other unlawful purpose, and to cooperate with checks carried out for those reasons.
6. 8.6The Client agrees to report, rather than exploit, any defect discovered in the Platform.
7. 8.7The Client is responsible for their own tax position arising from Operations on the Platform.

9Communications and personal data

1. 9.1The Company communicates with the Client by email, by notification in the Trading Terminal, and by notice published on the Platform. Security codes and withdrawal confirmations are sent by email only.
2. 9.2A message sent to the Client's registered email address is treated as received. Where the Client's email address is out of date, messages sent to the address on file are still treated as received.
3. 9.3The Company processes personal data as described in the Privacy Policy. Data is processed to operate the Account, to meet legal and verification obligations, and to secure the Platform.
4. 9.4The Client may opt out of marketing messages at any time. Service messages — security codes, withdrawal confirmations, and notices about this Agreement — cannot be opted out of while the Account remains open, because the Account cannot be operated safely without them.
5. 9.5The Company will never ask the Client for their password or for a security code, by any channel. A request for either is not from the Company.

10Liability

1. 10.1Trading carries risk. The Client may lose the entire amount staked on any Trade, and may lose the entire balance of their Account. The Client should trade only with funds they can afford to lose.
2. 10.2The Company does not provide investment advice. Market information, signals, analysis and educational material available on the Platform are provided for information only, and no Trade should be placed in reliance on them alone.
3. 10.3The Company is not liable for the outcome of any Trade properly executed under this Agreement.
4. 10.4The Company is not liable for losses arising from interruptions to the Client's own internet connection or device, nor from the Client's failure to keep their credentials secure.
5. 10.5The Company does not warrant that the Platform will be available without interruption. It will take reasonable steps to restore service and to correct any settlement affected by an interruption.
6. 10.6Nothing in this Agreement excludes liability for fraud, or for any liability that cannot lawfully be excluded.
7. 10.7The Client is liable for losses caused to the Company by any breach of section 5 or section 8, and the Company may recover such losses from the Client's Account.

11Complaints and disputes

1. 11.1A complaint should be sent to support@binox-trade.com within thirty days of the event complained of.
2. 11.2A complaint should identify the Account, describe the event with its date and time, state what the Client believes went wrong, and say what outcome is sought. Where an amount is claimed, it should be stated with the calculation.
3. 11.3The Company will acknowledge a complaint and respond substantively within fourteen working days, excluding any period spent waiting for information requested from the Client.
4. 11.4In resolving a dispute about what occurred, the Server Log is the primary record.
5. 11.5The Company may suspend Operations on the Account in question while a dispute is being resolved, and will not do so for longer than the resolution requires.

12Suspension and termination

1. 12.1The Client may close their Account at any time by contacting support. Closure takes effect once any open Trade has settled and any remaining balance has been withdrawn, subject to Verification.
2. 12.2The Company may suspend an Account where it has reasonable grounds to suspect a breach of this Agreement, unauthorised access, or an obligation under applicable law. It will tell the Client that the Account is suspended and what is required to lift it.
3. 12.3Where an Account is suspended, the Client has thirty days to address the matter. Where the matter is resolved, the Account is restored.
4. 12.4The Company may terminate this Agreement on notice to the Client. Termination does not affect the Client's right to withdraw funds properly credited to them, nor any obligation either party has already incurred.
5. 12.5Where an Account has had no Operation for twelve months, the Company may suspend access to it. A dormant Account is restored on request, and no dormancy fee is charged.

13Force majeure

1. 13.1Force majeure means an event beyond the Company's reasonable control, including natural disaster, war, civil disruption, an act of a public authority, failure of a data or payment provider, a general failure of internet infrastructure, or the suspension or closure of a market on which the Company's Quotes depend.
2. 13.2Where force majeure prevents performance, the Company may suspend affected Assets, suspend Operations, or extend the settlement of a Trade until pricing is reliable again.
3. 13.3The Company is not liable for failure to perform an obligation to the extent it is prevented by force majeure, and will resume performance as soon as it is able.

14Final provisions

1. 14.1The Client may not assign their rights or obligations under this Agreement. The Company may assign its rights and obligations, and will publish notice of any such assignment on the Platform.
2. 14.2Information the Client receives from the Company that is not public may be used only for the purpose of operating the Client's own Account.
3. 14.3This Agreement may be published in more than one language. Where the versions differ, the English version prevails.
4. 14.4The version published on this page prevails over any copy published elsewhere.
5. 14.5Questions about this Agreement should be sent to support@binox-trade.com.