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Olymp Trade Regulation on Trading Transactions

Olymp Trade Regulation on Trading Transactions

Olymp Trade Regulation on Trading Transactions

1.1. Olymp Trade Regulation on Trading Transactions (hereinafter – Regulation) determines the procedure and the terms for the Company’s performance of trading operations with the Client.

1.2. The Regulation sets forth the procedure for processing and fulfilment of orders for deal making and closure.

1.3. The Company undertakes to perform trading operations only in accordance with this Regulation.

1.4. The Client acknowledges that the only reliable source of information about the price quote feed is the Company Server. Quotes in the trading terminal cannot be used as a reliable source of information about the price quote feed because if an unstable connection between the Client’s trading terminal and the Company Server occurs, some quotes from the price quote feed may be missing in the trading terminal. Graphs represented in the trading terminal are of an indicative nature. The Company does not guarantee that the deal will be made at the prices specified in the graph in the trading terminal at the moment a certain request or order is submitted by the Client. The price for an asset in the trading terminal is calculated using the formula (ask+bid)/2.

1.5. If a non-market quote is used in executing a Client order, where “non-market quote” means a price on a trading terminal that does not match the market price when the Client’s order is fulfilled, the Company reserves the right to cancel the result of that transaction.

1.6. The Client is entitled to make deals only using the funds in the Client’s Account.
1.6.1. If the amount of available funds is sufficient to make a deal, the deal is made.
1.6.2. If the amount of available funds is not sufficient to make a deal, then in order to perform the transaction the Company reserves the right to offer to replenish the Client’s account using the one of the Account Replenishment Methods offered by the Company, The Client must first agree to the replenishment of the Client’s Account Balance using one of these methods. A bonus shall be awarded to the Company for the period of time lasting from the date of the transaction until the time when the Client’s account is replenished by the Company. This bonus shall be deducted from the Client’s Account immediately after the amount of the replenishment is credited to the Client’s Account. Wherein:
1.6.2.1. If the Client’s account is successfully replenished before the Conclusion of the transaction, the transaction shall be considered concluded, and the transaction Amount shall be deducted from Client’s account. The Client has the right to receive Income on the transaction when option time expires.
1.6.2.2. If the Client’s account is not successfully replenished before the Conclusion of the transaction, the transaction shall not be concluded, and the transaction Amount shall not be deducted from Client’s account. The Client shall not have the right to receive Income on the transaction when option time expires. The Client shall be fully liable for the risk of any delays in the replenishment of the Client’s Account (the risk of replenishment of the Client’s Account after the conclusion of the transaction). The Company shall under no circumstances or for any reason (including cases of technical failures, delays in processing requests to transmit information, or any other cases) be liable for the crediting of funds in the Client’s Account after the time of the Conclusion of the Transaction.
1.6.3. If the amount of available funds is not sufficient to process the transaction and the Client declines the option of replenishing the balance using funds from the Customer’s account, then the transaction shall not be concluded.
1.6.4. If it is revealed that the Client has abused the opportunity to conclude transactions by knowingly entering into them with an insufficient amount of available funds in its own account, the Company shall have the right to unilaterally recognize as valid the results of all transactions that were previously concluded by the Client and to debit the sum of all transactions that were previously concluded with the Client and to derive Income from all the previously concluded transactions.

1.7. The Client’s order to open a position is considered to be fulfilled and the position will be open after the respective record appears in the database of the Company Server. Each trading operation is assigned an identifier according to the rules set forth by the Company.

1.8. When performing trading operations, the Client is forbidden to:
1.8.1. use robotised and automated algorithms to perform transactions and/or use special software that ensures execution of transactions without actual participation by the Client;
1.8.2. use anonymisers and other software that ensures the Client’s anonymity and conceals the real IP addresses of the Client’s equipment;
1.8.3. use the Company’s services and/or its software for any illegal or fraudulent activity or for any illegal or fraudulent transaction (including money laundering) in accordance with the legislation of the country of the Client’s location;
1.8.4. carry out with other Clients of the Company concerted actions aimed at causing damage to the Company and use other unfair and dishonest methods of making deals (transactions) with the Company in order to gain material profit from such actions.

1.9. The Company may at any time impose the following transaction limitations on the Client:
1.9.1. Limits on the minimum and maximum transaction amounts for each of the Assets;
1.9.2. Limits on the total number/value of transactions entered into by the Client and/or the number/amount of transactions entered into by the Client for each individual Asset per period of time established by the Company (time interval set by the Company);
1.9.3. Limits on the total Amount of simultaneous transactions that may be opened by the Client as well as limits on the amounts of each of the individual Assets involved in transactions;
1.9.4. Any other limits on transaction conditions that the Company may determine at its discretion.

2.1. The Client and the Company will interact by exchanging messages: requests, confirmations, reports, etc. All messages are created by the Client, sent to the Client and delivered to the Client exclusively via the trading terminal. In exceptional cases, messages may be exchanged by phone via customer support.

2.2. All messages sent to the Company via a trading terminal authorized using the Client’s login and password are deemed to be sent by the Client.

2.3. The processing time for requests and orders depends on the quality of the connection between the Client’s trading terminal and the Company Server and on the current market for the the asset. Under normal market conditions, a Client’s request or order is typically processed within 0–4 seconds. Under abnormal market conditions, the Company may increase the time to process client requests and orders..

2.4. The Company Server may decline the Client’s request and/or order in the following cases:
– if the Client sends a request before the first price quote is received by the trading terminal when the market or the trading session opens;
– if the Client has insufficient funds to open a new position;
– if market conditions are not normal;
– in other cases that the Company may decide at its sole discretion.

3.1. A trade is executed when the Client and the Company have agreed on the essential conditions of the trade. Agreement is reached by exchanging messages such as a request to execute a trade and trade confirmation. The following clauses of the Regulation describe the procedure for agreement on of essential conditions for closing a trade.

3.2. Before a trade is executed, the Client shall choose the following material conditions of the trade transaction (trade):
• asset;
• price direction;
• trade amount;
• option expiry time.
• the asset quote value

3.3. After choosing these conditions, the Client must review the current price of the selected asset and the payout ratio.

3.4. To execute a trade, the Client sends to the Company a request to execute a trade containing all these essential conditions of the trade, both those chosen by the Client and those offered by the Company. The request is sent from the trading terminal by pressing the Up or Down button.

3.5. If there is a stable internet connection between the Client’s trading terminal and the Company Server, the request to execute a trade will arrive at the Company Server, where it will be checked for correctness and correspondence to the current market conditions. Next, the request is either fulfilled or cancelled by the server. If a trade is executed, the trade amount will be debited from the balance on the Client’s Account. No commission is charged for executing a trade.

3.6. A request to execute a trade may be cancelled in the following cases: • the trade amount is greater than the balance on the Client’s account;
• trade acceptance time has expired;
• trading hours for the selected asset are over;
• the asset rate changed significantly between the time when the Client sent the request and when the Company Server processed it;
• in other cases that the Company may decide at its sole discretion;
• in exceptional situations described below.

3.7. The Company Server sends a message with the result of the request for early trade closure to the Client’s trading terminal. If there is a stable internet connection between the Client’s trading terminal and the Company Server, a message with the result of fulfillment of the request to execute a trade will be displayed on the Client’s trading terminal. If a trade is fulfilled, the Client will see a graphic confirmation thereof in the trading terminal, and information about the trade will appear in the My Trades section of the trading terminal. If the trade is cancelled, the Client will see an error message.

3.8. If, after sending a request to execute a trade, the Client does not receive either a graphic confirmation of the trade or information about the new trade in the My Trades section of the trading terminal within a reasonable time or receives an error message, he/she cannot be sure whether the trade was executed or cancelled. To find out the status of a trade, the Client must contact the client support department.

3.9. The Client cannot cancel a trade execution request after it has been sent to the Company server.

3.10. Information on the payout ratio posted publicly on the Company’s website is approximate. The company is not obligated to make trades with the payout ratios posted on the site. Precise information about the payout ratio is displayed for the Client on the trading terminal after he/she selects the essential conditions of the trade, but before the Client confirms the trade.

4.1. A trade is closed automatically at the option expiration time. When a trade is closed, the option payment amount is calculated, the payment amount is added to the balance on the Client’s account and the trade disappears from the window with open trades on the trading terminal.

4.2. If a trade closes at the option expiration time, the option payment will be calculated as follows. If, at the option expiration time, the option is profitable, the payment will be S*K/100, where S is the trade amount and K is the payout ratio for the trade as a percentage. If, at the option expiration time,the option is unprofitable, the payment equals zero. An option is profitable in the following cases:
a) An option with a Up price change direction, if the traded asset price at that time is above the target trade level;
b)An option with a Down price change direction, if the traded asset price at that time is below the target deal level; In all other cases, the option is unprofitable.

4.3. For options with the Currency Pair deal asset type, at the Client’s discretion a trade may be closed early before the option expiration time if the Company has the technical capability and there is a stable Internet connection between the Client’s trading terminal and the Company Server.

4.4. Early trade closure requires agreement on the essential conditions for trade closure by the Company and the Client. Agreement is reached by exchanging messages such as a request to execute a trade and trade confirmation. The following clauses of the Regulation describe the procedure for agreement on of essential conditions for closing a trade.

4.5. To close a trade, the Client selects the trade that he/she wants to close in the My Trades section and presses the trade closure button. After that, the Client reviews the essential conditions of trade closure for the selected open trade– the payout amount for early closure of the trade.

4.6. If the Client agrees to the payout amount for early closure of the trade and wants the close the trade before the option expiration time, he/she will send the Company a confirmation of early trade closure containing the identification number of the trade and the payout amount for early closure of the trade. The request will be sent at the trading terminal by pressing the Close or Sell now button.

4.7. If the Company has the technical capability and there is a stable internet connection between the Client’s trading terminal and the Company Server, the request for early trade closure will arrive at the Company Server, where it will be checked for correctness and correspondent to the current market conditions. Next, the request is either fulfilled or cancelled by the server. If a trade is closed, the payout will be added to the balance on the Client’s Account. No commission is charged for early trade closure.

4.8. A request for early trade closure may be cancelled in the following cases:
• the time when early trade closure is available has expired; • the asset price changed significantly from the time when the request was sent until it was processed by the server; • in other cases that the Company may decide at its sole discretion; • in exceptional situations described below.

4.9. The Company Server sends a message with the result of the request for early trade closure to the Client’s trading terminal. If there is a stable internet connection between the Client’s trading terminal and the Company Server, the request to execute a trade will arrive at the Company Server, where it will be checked for correctness and correspondence to the current market conditions. If a trade is fulfilled, the Client will see a graphic confirmation of the trade closure, and information about the trade will appear in the My Trades section of the trading terminal. If early trade closure is cancelled, the Client will see an error message.

4.10. If, after sending a request for early trade closure, the Client does not receive either a trade confirmation or an error message within a reasonable time, he/she cannot be sure whether the trade is closed or whether the trade closure is cancelled. To find out the status of a trade, the Client must contact the client support department..

4.11. The Client cannot cancel an early trade closure request after it has been sent to the Company server.

4.12. Information on payouts for early trade closure posted publicly on the Company Website is approximate. Precise information about the payout amount is displayed for the Client on the trading terminal if a trade is selected for early closure.

5.1. The Company set set the trading schedule, i.e., hours when trades can be executed and closed, separately for each asset.

5.2. Information about trading hours posted on the Company’s website and available to the general public is approximate. The Company reserves the right to change trading hours at its sole discretion.

6.1. In exceptional situations characterized by abnormal market conditions, the Company may carry out trading transactions that differ from those described in this Regulation.

6.2. Exceptional situations include:
6.2.1. Slow market– a market in which, for a long period of time, quotes arrive at the trading platform less often than under normal market conditions. As a rule, this market condition is typical of the Christmas holidays and national holidays in the countries where the asset originates.
6.2.2. Fast market– a market in which the price changes dramatically within a short period of time. Usually this situation can be linked to important economic news and exceptional events:
a) publication of the basic macroeconomic indicators having a high degree of influence on financial markets;
b) announcement of interest rate decisions by central banks;
c) speeches of heads of central banks, heads of states, finance ministers, heads of companies and stock exchanges, etc.
d) currency interventions by governmental organizations;
e) terrorist attacks and natural disasters on a nationwide scale;
f) the start of a war, military actions, civil unrest;
g) political force majeure events: resignations, appointments, elections of representatives of government authorities and heads of companies.

6.3. In exceptional situations the Company will make every effort to carry out trading transactions just as under ordinary conditions, but nevertheless retains the right to:
a) Reduce the payout ratio;
b) Cancel individual execution requests; close a trade early; cancel previously executed trades and cancel the financial results of previously executed trades;
c) Limit the number of request from one Client within a certain time period;
d) Limit the available option expiry times;
e) Temporarily halt trading in certain kinds of assets;
f) Completely suspend trading transactions.

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