Know Your Customer – KYC Compliance

(Pursuant to Binary International’s Legal Terms & Conditions)

4. Membership Eligibility

The Company’s Services are available and may be used only by individuals or companies who can form legally binding contracts under the applicable laws in their country of residence. In addition, the Services are not available to persons under the age of 18 or otherwise under legal age or who cannot execute legally binding contracts under laws of their country of residence (“Minors”). If you are a minor, you may not use this service. For the avoidance of doubt, the Company shall not be responsible for any unauthorized use of its Services by Minors in any way or manner. Furthermore, the Services are available only to, and may only be used by individuals who have sufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks of acquiring financial contracts via this site and have done so without relying on any information contained in this site. To remove any doubts, the Company is under no obligation to verify and/or check whether you possess such sufficient knowledge and/or experience, nor shall it be responsible for any damage and/or loss incurred by you as a result of insufficient knowledge and/or experience. Furthermore, it is hereby clarified that the Company is not, and shall not, be responsible in any way to the accuracy of any information published on its Web site by itself or by others, and every published or referenced item of information should be regarded as unfounded information for the purposes of managing your activity and risks. We strongly emphasize that you must ensure that all information required by you was checked and confirmed by yourself, through independent information sources to your satisfaction prior to the execution of any action by yourself on the Web site. IF YOU DO NOT HAVE THE KNOWLEDGE AND/OR EXPERIENCE AND/OR PERSONALLY ASSESSED DATA OR EXECUTE TRANSACTIONS BASED ON A LEARNED BASIS PLEASE DO NOT USE OUR WEB SITE OR SYSTEM.

5. The Account

5.1. Upon execution of this Agreement, the Company shall set up an account in your name and ownership in the System. The account and other relevant details shall be in accordance with the information provided by you, as shall be required by the Company from time to time. You must ensure that the information provided by yourself is complete, true and accurate. It is hereby clarified that the provision of misleading information may be regarded as an offence and shall entail immediate cessation of activities in your account or its immediate closure. You acknowledge that upon the completion of your identification process by the Company, it may report you as a beneficiary in the applicable account held by the financial institution with which the Company deposits the Collateral funds, in amounts up to the credit balance recorded in your account at the System form time to time, and to that end may transfer identification details provided to it by yourself.

5.2. By accepting all of the terms and conditions of this Agreement, you hereby authorize and empower the Company, until written notice contrary to the effect shall be received from you by the Company to carry out orders and activities in accordance with your instructions or according to instructions provided by your duly authorized agent(s) in writing and/or orally all in accordance with the powers granted to the Company under this Agreement and/or for the provision of the Services.

5.3. To remove any doubts, the execution of any Transaction in the account is subject to the deposit of the Collateral by you. The Company shall not allow you to execute any Transaction without the said deposit and/or in the event that the Collateral is insufficient for the execution of a said Transaction, subject to the Company’s policy from time to time. To remove any doubts, in the event that the Company allows you to commence trading before it receives confirmation of deposit of Collateral by you, and in effect no Collateral was deposited, the Company shall have the right to deduct from any profits gained by you the amount which should have been deposited as collateral prior to your commencement of trading. All funds shall be held by the Company for you and the Company may deposit such funds with any financial institution including but not limited to such funds being used as collateral for the Company’s Transactions. In the event that a Transaction shall take place and for some reason there shall be no sufficient Collateral in your account, the Company shall have the right to decrease your exposure in the said Transaction and/or approach you to rectify such required Collateral and/or demand from you payment in full for any deficiency which has occurred by your Transaction which was not covered by sufficient Collateral. It is hereby expressly stated, that the above mentioned right of the Company, does not obligate it to decrease your exposure in any Transaction and you shall have no claims against the Company regarding your losses resulting from the decrease or non-decrease of your exposure in any particular Transaction by the Company.

5.4. To remove any doubts, it is hereby clarified that the Company may, at its sole discretion, amend form time to time the terms governing the use of the System, the scope of its Services and the sum of the Collateral required for the execution of Transactions by you, without prior notice. However, any such change to the rules made whilst the site is in operation will not apply retrospectively and will only apply to acquisitions of financial contracts made after such change.

5.5. Upon the opening of the account, the Company shall issue you with a confidential personal identification code (hereinafter: the “Access Code”) to be used by you to operate your account via the Internet. You hereby irrevocably undertake to safeguard the Access Code and hereby waive any and all claims against the Company relating to any unauthorized use of the Access Code.

5.6. Acquisition of Financial Contracts through the System must be effected in accordance with the latest version of the terms and conditions presented in this site. To remove any doubts, the Company may amend, change or cancel any part of the said terms and conditions, and their effect shall be from the date such amended terms have been inserted into the site. Acquisition of a Financial Contract is completed when the Financial Contract has been customized, the premium (or the pat, as the case may be) has been calculated and payment has been verified.

6. The Company hereby warrants and undertakes that:

6.1. It has the required skills and know-how to provide the Services.

6.2. In no event shall the Company or anyone on its behalf shall act, or be deemed to act, as agent/trustee/broker for you when executing Transactions in the System.

6.3. Neither at present, nor in the future shall it provide any financial advice to you or any of its customers and no information which may be found on the Company’s Web site may be considered as financial advice for any purpose whatsoever. To remove any doubts, information given on the site, the System and/or emails or newsletters sent by the Company related to its Services or financial markets, is not intended to be used as financial or investment advice and the Company shall not accept any liability in this respect, nor shall the Company accept any responsibility for the accuracy or comprehensiveness of the information provided on this site. It is your responsibility to any and all independent inquiries as you deem fit, prior to making any financial decision.

6.4. It shall not be liable in any way whatsoever for any claims, suits, contentions, losses, expenses, damages etc. incurred by you as a result of your reliance on any information provided by the Company.

6.5. The maximum loss that you may incur using the System, is the amount of money paid by you to the Company as Collateral and/or any sums in your Account which you used to purchase Financial Contracts.

6.6. The Company does not provide a market among or between customers for investments, securities, derivatives or speculations. Each Financial Contract purchased by you via the System, is an individual agreement between yourself and the Company and is not a security, nor is it transferable, negotiable or assignable to or with any third party.

7. Company’s rights regarding the operation of your account

The Company reserves the right to suspend the operation of this site or sections thereof under the following circumstances:

7.1. When, as a result of political, economic, military or monetary events (including unusual market volatility or liquidity) or any circumstances outside the control, responsibility and power of the Company, the continued operation of this site or the System shall not be reasonably practicable without materially and adversely affecting and prejudicing your interests or the Company, or if, in the sole discretion of the Company, a price cannot be calculated for financial betting contracts; or

7.2. when there is a breakdown in the means of communication normally employed in determining the price or value of any of the financial betting contracts or where the price or value of any of the financial betting contracts cannot be promptly or accurately ascertained; or

7.3. when the Company has reason to suspect that the System was abused by you or that you have used some means in order to affect or manipulate the System in general or the price of a specific Contract in particular.

7.4. Under such circumstances, other then in the case of abuse or manipulation of the System, the Company may at its sole discretion (with or without notice) close out your open financial betting contracts at prices it considers fair and reasonable at such a time and no claims may be entertained against the Company in connection thereto.

In case of abuse or manipulation of the System, the Company may at its sole discretion take any measures it deems fit and appropriate under the said circumstances.

8. You hereby warrant and undertake that:

8.1. All details provided by you to the Company are true, complete and accurate and that you are an adult over the age of 18 (or the required minimum age in your country of residence) so that you may be legally bound by the terms of this Agreement and that you are an experienced investor who has sufficient financial knowledge and experience to understand and independently evaluate the risks entailed in the activities contemplated under this Agreement.

8.2. You shall be the sole owner and beneficiary of the account.

8.3. You acknowledge and understand that the Company operates under applicable local laws and regulations of Anguilla. You are aware and you hereby acknowledge that the Company can not control your actions and you are required to make necessary inquiries as to the legal status of your activities and applicable local laws and regulations, as currently in force in your place of residence and abide by such laws and regulations. You understand that laws regarding Financial Contracts vary throughout the world, and it is your sole obligation to ensure that you fully comply with any laws, regulations or directives, relevant to your country of residency with regards to the use of the Web site and/or the System. For avoidance of doubt, an actual ability to access the Company’s Web site does not necessarily mean that the Services and your activities are legal under the laws, regulations or directives, relevant to your country of residence. You hereby confirm, after conducting the necessary inquiries, that there is no legal constraint which precludes you from using the System or executing Transactions as described in this Agreement. To remove any doubts, the Services are not to be used where they are illegal to use, and the Company reserves the right to refuse to provide and/or cancel Services, in whole or in part, to anyone at any time, at its own discretion without cause, including but not limited to events in which the Company learns that you are performing activities which are not regulated under the laws of your place of residence.

8.4. All funds to be deposited by you in your account from time to time, are of legal origin, are not the proceeds of crime, including but not limited to, proceeds of drugs trafficking or dealings in other prohibited substances or proceeds of illegal arms trades, illegal gambling, prostitution, terror funds etc. To remove any doubts, monies received from you are not invested in any securities, futures, currencies, derivatives or other investments, on your behalf by the Company or anyone on its behalf. Such monies are used as collateral for your transactions in the System.

8.5. You are aware of the risks involved in the execution of the transactions described in this Agreement and you have read and understood the Risk Factors Disclosure section at the bottom of this page, which forms an integral part hereof and you agree to all of its terms.

8.6. You acknowledge that you are solely responsible and personally liable for any and all actions and orders to be executed in your account, including the settlement of any Transaction, whether performed by you in person, any member of your family, any other third party who have gained access to your account, or by your agent or attorney or the Company’s employees carrying out your orders. You further agree that neither the Company nor its employees or anyone on its behalf shall be liable in any way whatsoever to the outcomes or consequences of such actions and/or orders. You are responsible for ensuring that you and you alone shall control access to your account, and that no minors are granted access to trading on the System. In any case, you remain fully liable for any and all positions traded on your account, and for any credit card transactions entered into the site for your account. You shall also indemnify the Company in respect to all costs and losses of any kind, whatsoever as may be incurred by the Company as a result, direct or indirect, of your failure to perform or settle such a transaction.

8.7. You are aware that the Company does not provide any equipment nor is it an Internet Service Provider and therefore it shall not be liable, directly or indirectly, to any malfunction of any kind and nature whatsoever, on your end, or any other equipment not provided by the Company and/or any Internet connection malfunction and/or any computer program or software bugs and/or errors including but not limited to delays in the transmittal of your orders or the delayed receipt thereof. You shall be responsible for providing and maintaining the means by which to access the Web site, which may include without limitation a personal computer, modem and telephone or other access line. You shall be responsible for all access, service, license and subscription fees necessary to connect to the Web site and assume all charges incurred in accessing such systems. You further assume all risks associated with the use and storage of information on your personal computer or on any other computer through which you will gain access to the Web site and the services (hereinafter referred to as “computer” or “your computer”). You represent and warrant that you have implemented and plan to operate and maintain appropriate protection in relation to the security and control of access to your computer, computer viruses or other similar harmful or inappropriate materials, devices, information or data. You agree that the Company shall not be liable in any way to you in the event of failure of or damage or destruction to your computer systems, data or records or any part thereof, or for delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You shall not transmit to or in any way, whether directly or indirectly, expose the Company or any of its online service providers to any computer virus or other similarly harmful or inappropriate material or device.

8.8. You acknowledge and confirm that the Company does not represent, warrant or guarantee that: (i) you will be able to access or use the web site at times or locations of your choosing, or that the Company will have adequate capacity for the web site as a whole or in any geographic location; and (ii) the web site will provide uninterrupted and error-free service. You hereby further acknowledge and confirm that the Company shall not be responsible for an impossibility to execute orders and requirements due to failures in the operation of information systems caused by faults, of any kind whatsoever.

8.9. You shall duly report your activities to any applicable tax or other authority, as may be required by any laws applicable to you or to your country of residence and you shall pay all applicable taxes, levies, governmental fees and charges associated with the activities of your account including required deductions at source and you forego any claim against the Company in this respect.

8.10. You shall not abuse this site nor the System for the purpose of money laundering. The Company employs best-practice anti-money laundering procedures, which may have several effects on you. The Company reserves the right to refuse to do business with, to discontinue to do business with, and to reverse the Transactions of, customers who do not accept or adhere to these anti-money laundering processes. The anti-money laundering processes have the following effects on customers:

8.10.1. You must fill into the account opening form all requested details that establish your identity.

8.10.2. Winnings may only be paid to the initiator of an account and to an account under his own name and not to any third party’s account. When you maintain an account by means of telegraphic deposits, winnings are only paid to the holder of the originating bank account, and it is your onus to ensure that account number and name accompany all transfers to the Company. When you maintain an account by means of credit/debit card deposits, winnings are paid back to the same card upto the value of the collateral deposited. Additional winnings will be transferred by telegraphic means subject to the conditions described above.

8.10.3. Only one account is allowed per person. No winnings may be collected on accounts opened in false names or on multiple accounts opened by the same person.

8.10.4. The Company may, from time to time, at its sole discretion, require you to provide proof of identity (such as notarized copy of passport or other means of identity verification as the Company deems required under the circumstances) and may at its sole discretion suspend an account until such proof has been provided to its satisfaction.

8.11. You have read this Agreement in its entirety including its appendices, and understood its content and implications, including the risk of loss of all of your Collateral, before accepting its terms.

Ensuring The Safety of Your Funds

Binary International’s Compliance Department helps to ensure that your funds are safe in your Binary International account by ensuring that your funds are actually yours. By using the applicable legislation as a template, the Compliance department specializes in combating fraud and money-laundering, ensuring that your funds are safe and secure.

This means that Clients’ monies will be segregated from the Company’s own money and cannot be used in the course of its business. Upon receipt of a Client’s money, the Company will promptly place such money into one or more Segregated Client Account(s).

What documents do you need?

The documents required for account verification are:

✓ Color Copy of a valid Passport
✓ Color Copy of a Photo ID (Front and Back) with Address
✓ Color Copy of the Credit Card (Front and Back) used to fund the account showing:
✓ The last 4 digits on the front of the card
✓ The signature on the back of the card
✓ Color Copy of a Utility Bill no more than 3 months old in your name showing an address matching the Photo ID

What file formats are accepted?

Documents submitted for verification can be in one of the following formats:

✓ JPG ✓ GIF ✓ BMP ✓ PNG ✓ PDF
Documents not submitted in one of these formats will not be accepted.

How To Submit Documents:

Documents may be submitted by email to compliance@binaryinternational.com.