Risk disclosure statement
In consideration of Nuntius Brokerage & Investment Services S.A. (“Nuntius”) agreeing to enter into over-the-counter (“OTC”) contracts for differences (“ CFDs”) and foreign exchange contracts (“ FX Contracts”) with the undersigned (hereinafter referred to as the “ Customer”, “ you”, “ your”), Customer acknowledges, understands and agrees that:
Trading Is Very Speculative and Risky
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:
(a) understand and are willing to assume the economic, legal and other risks involved;
(b) understand Binary Options trading and are knowledgeable about trading in Binary Options and in its underlying asset types; and
(c) are financially able to assume the loss of their total investment.
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 total 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.
Conflicts of Interest
Nuntius, through its liquidity provider (SPOTOPTION EXCHANGE LTD), is the counterparty to all Transactions entered into under the Customer Agreement and, as such, Nuntius’s interests may be in conflict with yours. Our Conflicts of Interest Policy is available at Nuntius’s website.
Prices, Margin And Valuations Are Set By Nuntius And May Be Different From Prices Reported Elsewhere
Nuntius, through its liquidity provider, will provide prices to be used in trading, valuation of Customer positions and determination of Margin requirements in accordance with its Trading Policies and Procedures and Market Information Sheets. The performance of your CFD or FX Contract will depend on the prices set by Nuntius 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 CFD concerned. Our 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 CFD and FX Contracts, we obtain price data from wholesale market participants. Although Nuntius expects that these prices will be reasonably related to prices available in the market, Nuntius’s prices may vary from prices available to banks and other market participants. Nuntius has considerable discretion in setting and collecting margin. Nuntius is authorized to convert funds in Customer’s account for margin into and from such foreign currency at a rate of exchange determined by Nuntius in its sole discretion on the basis of then-prevailing money market rates.
Nuntius will provide prices to be used in trading, valuation of Customer positions and determination of Margin requirements in accordance with its Terms & Conditons.
One Click Trading And Immediate Execution
Nuntius’s Online Trading System provides immediate transmission of Customer’s Order once Customer enters the notional amount and clicks “CALL/PUT. And then APPLY” This means that there is no opportunity to review the Order after clicking “APPLY” and Market Orders cannot be cancelled or modified.
This feature may be different from other trading systems you have used Customer acknowledges and agrees that by using Spotoption’s Online Trading System, Customer agrees to the one-click system and accepts the risk of this immediate transmission/execution feature.
Telephone Orders And Immediate Execution
Market Orders executed over the telephone through the Nuntius Trading Desk are completed when the Nuntius telephone operator says “deal” or “done” following Customer’s placing of an order. Upon such confirmation of the telephone operator, Customer has bought or sold and cannot cancel the Market Order. By placing Market Orders through the Nuntius Trading Desk, Customer acknowledges and agrees to such immediate execution and accepts the risk of this immediate execution feature.
Nuntius Is Not An Advisor Or A Fiduciary To Customer
Where Nuntius 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 Foreign Exchange Contracts or Cross Currency Contracts. Each decision by Customer to enter into a CFD or FX Contract with Nuntius and each decision as to whether a transaction is appropriate or proper for Customer, is an independent decision made by the Customer. Nuntius is not acting as an advisor or serving as a fiduciary to Customer. Customer agrees that Nuntius 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 Nuntius’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by Nuntius.
Recommendations Are Not Guaranteed
The generic market recommendations provided by Nuntius are based solely on the judgment of Nuntius’s personnel and should be considered as such. Customer acknowledges that Customer enters into any Transactions relying on Customer’s own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of Nuntius and/or its affiliates. The generic market recommendations of Nuntius are based upon information believed to be reliable, but Nuntius 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 CFDs and/or FX Contracts.
No Guarantees Of Profit
There are no guarantees of profit nor of avoiding losses when trading CFDs and FX Contracts. Customer has received no such guarantees from Nuntius or from any of its representatives. Customer is aware of the risks inherent in trading CFDs and FX Contracts and is financially able to bear such risks and withstand any losses incurred.
Customer May Not Be Able To Close Open Positions
Due to market conditions which may cause any unusual and rapid market price fluctuations, or other circumstances, Nuntius may be unable to close out Customer’s position at the price specified by Customer and the risk controls imposed by Nuntius might not work and Customer agrees that Nuntius will bear no liability for a failure to do so.
When Customer trades online (via the internet), Nuntius 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 Nuntius, Customer, any exchange or any settlement or clearing system.
Nuntius 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 Nuntius may not be reachable by telephone at all times. In such cases Customer shall place his/her order through other means offered by Nuntius.
Should a quoting error occur (including responses to Customer requests), Nuntius 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 Nuntius 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 Nuntius has posted on our screen, Nuntius 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 prices, which are ultimately reflected on the Customer statements. This may or may not adversely affect the Customer’s realized and unrealized gains and losses.
NUNTIUS participates in the Common Guarantee Fund for Investment Services (Investor Compensation Scheme) regulated in the Hellenic Republic. Customers will be entitled to compensation under the Common Guarantee Fund for Investment Services where we are unable to meet our duties and obligations arising from your claim. Any compensation provided to you by the Common Guarantee Fund for Investment Services shall not exceed thirty thousand Euros (30,000) aggregated.
I / WE HAVE READ, UNDERSTOOD AND AGREE TO THE RISK DISCLOSURE STATEMENT AND THE TRADING POLICIES AND PROCEDURES SET OUT ABOVE