Sovana Holding PC (a company incorporated under the laws of Saint Vincent and the Grenadines, registration number 8888 IBC 2019, with an office on the 14-16 Churchill Way, Cardiff,Wales, CF 10 2DX United Kingdom — the Company) according to this Client Agreement (hereinafter — the Agreement), provides an individual (hereinafter — the Client) with access to the platform on the website 7option.com (hereinafter — the Website) and the 7option mobile application (hereinafter — the Mobile Application) for the purpose of the Client concluding trading operations using financial instruments provided by the Company. All services provided by the Company through the Website are also provided through the Mobile Application.
1. General Provisions
1.1. By registering on the Website, the Client is committed to fulfilling this Agreement. Creating an account on the Website is considered as automatic acceptance of the Agreement and means full and unconditional agreement to its terms and conditions.
1.2. The place of supply of legal services in Saint Vincent and the Grenadines.
2.1. The account is essential for storing important information about the client and authentication to his/her Personal Account, where all the trading operations can be executed.
2.2. Asset - stock indices, stocks, commodities, and currency pairs available for trading using financial instruments provided by the Company.
2.3. Account Balance - the total amount of funds in the Client's Account, excluding Open Deals. The amount of the Account Balance is equal to the amount of the Company's financial obligation to the Client at a particular point in time.
2.4. Bonus Funds - funds credited by the Company to the Client when it is considered applicable. Bonuses are not a financial obligation of the Company to the Client.
2.5. Withdrawal of Funds - the debiting of monetary funds from the Account and transfer thereof to the Client's account.
2.6. Deposit - monetary funds deposited by the Client in their Account.
2.7. Closed Deal - a Deal that is closed by the order of the Client.
2.8. Quote - the digital cost value of an Asset at a certain point in time.
2.9. The Client’s Personal Account is a part of the Website to which the only Client has access. After passing registration Client can use the services of the Company in a personal online account by entering his/her login and password.
2.10. Log File - a file containing significant system information about the operation of the Company Server, including information about the Client’s actions on the Website.
2.11 Non-trading Operation - any financial operation that cannot be considered as trading (making a deposit or withdrawing funds).
2.12 Open Deal - a Deal which client opened at his/her own risk until it's closed by order of the Client or according to the rules of the Platform.
2.13 Payment System Provider - a company that provides online services for conducting electronic payments.
2.14 A Client’s Real Account - a special Client Account on the Trading Platform that reflects real amount in US dollar, euro, and Russian ruble in real-time, online.
2.15 Deal - trading operations on the platform where the client chooses entry and exit market points.
2.16 The Company Server - a hardware-software complex that enables the Company to provide Quotes streams to the Client in real-time and processes the Client's Trading Orders as well.
2.17 Strike Price - the Asset price forecasted by the Client at the close of the Deal.
2.18 Trading Activity - the Client’s actions that encourage him/her to actively use funds deposited on a personal balance.
2.19 Trading Operation - an operation with an Asset concluded outside the market between the Company and the Client.
2.20 Trading Platform - a computer system that is accessed through the Client’s Personal Account. Thanks to the trading platform the Client can see not only Quotes but also reflections of the results of actions related to the execution of Trading Operations.
2.21 Trading Order - the Client's order to conclude a Trading Operation on the conditions specified by the Client.
2.22 Trading Mechanics - financial instruments provided by the Company on the Trading Platform, which results in the actual acquisition of the Asset.
2.23 Trading Turnover - the sum of all Deals concluded by the Client since the last Deposit was made in his/her Account.
3. Trading Mechanics
Every Client can use the following Trading Mechanics:
3.1. "Standard" When opening a Deal, the Client specifies the amount of the Deal, the direction of chart movement, and the time of the closing of the Deal. The Deal closes upon reaching the selected closing time thanks to the trading platform algorithms. The Deal is considered profitable if the upward chart direction aligns with the entry point and Client’s directions, or downward chart direction aligns with Client’s predictions. The yield on the Deal depends on the Asset, selected amount of the Deal, and the execution time of the Deal.
3.2. "Strike" When opening a Deal, the Client specifies the Asset, the amount of the Deal, the direction of chart movement, the Strike Price, and the exact closing time of the Deal. The Deal automatically closes upon reaching the selected closing time. The profit on the deal depends on the amount, selected Asset, the Strike Price, and the exact closing time of the Deal, and the direction of chart movement. The Deal can be closed early. The price of early execution is calculated dynamically and updated depending on the market conditions. If at the moment of the closing of the Deal, the current Quote of the selected Asset is higher than the Strike Price specified by the Client, the Deal is considered profitable if the selected direction of chart movement is "up." If at the moment of the closing the Deal, the current Quote of the selected Asset is lower than the Strike Price specified by the Client, the Deal is considered profitable if the selected direction of chart movement is "down." The yield on the Deal is fixed and depends on the selected amount of the Deal, the Asset, the Strike Price, the direction of chart movement, and the execution time of the Deal. The yield on the Deal is defined as the percentage yield multiplied by the amount of the Deal. The Deal can be closed early, but the price completely depends on the market conditions.
4. Registration and Verification of the Client
4.1. The registration procedure is mandatory for every Client.
4.2. To register on the Website, the Client must perform the following actions:
- use his/her email address and create a password;
- select the currency of the Account;
- unconditionally accept the terms and conditions of this Agreement.
4.3. By accepting the terms of this Agreement, the Client guarantees the following:
- that he/she is a legally capable adult according to existing legislation.
- that he/she has read the terms and conditions of this Agreement and agrees with every point.
4.5. Verification can be carried out only after the Client provides the full set of documents requested. Verification takes 10-30 business days.
4.6. If the Client refuses to provide the documents requested for verification, the Company has the right to suspend the servicing of his/her Account and block the funds.
4.7. The Company has the right to request a video conference with the Client, which is another significant step for identity verification. Before a video conference, the Client has to prepare his/her passport and other documents if needed. The Client will be notified about the time of the video conference at least 24 hours prior.
4.8. By registering on the Website, the Client consents to receive emails of any kind from the Company, as well as phone calls and SMS texts and advertising emails. It is possible to unsubscribe and cancel the subscription by following the link.
4.9. The Client can register only 1 Real Account on the Website, to which he/she can deposit funds from the sources provided in payment details before. If the Company discovers several duplicate Accounts, all of them will be blocked. For example, if Accounts are credited using the same credit card, this will automatically be detected by the system and will lead to the blocking of these Accounts and annulment of all the financial achievements.
4.10. If there has been no Trading Activity on the Client's Account for 30 (Thirty) consecutive days, the Client is charged a monthly subscription fee for servicing their Account in the amount of $10/€10 or if there are enough funds on the Account. The subscription fee is canceled if a trading activity is resumed on the Client's Account.
4.11. If there has been no Trading Activity on the Client's Account for 3 (Three) consecutive months, the Company has the right to deem the Client’s Account inactive and block it as a result. The Client will be notified about possible account blocking by email.
4.12. If there has been no Trading Activity on the Client's Account for 6 (Six) consecutive months, the Company has the right to withdraw the funds from the Client's Account in full.
4.13. In order to return funds to the Account, the Client must contact the Company's Support Service using and provide all the documents necessary to prove the Account's ownership.
5. Procedure for Conducting Non-trading Operations
5.1. The official methods of Account crediting and Withdrawal of Funds are the methods indicated on the Company's Website. The Client accepts all the risks associated with the use of payment systems, as well as payment of concealed commissions of payment systems. The Company is not responsible for the delay or failure in payments. In the case of difficulties with deposits to the Account, the Client should contact the support service of the payment system and/or Provider accordingly.
5.2. To credit the Account, the Client uses the internal interface of the Website. The minimum Deposit amount is an equivalent of 10 USD. After the Deposit funds will be reflected in the n the Client’s Personal Account on the Website.
5.3. Crediting an account using the payment details of third parties is prohibited.
5.4. In the event, any fraudulent activity is detected the Company can block all the operations, transactions, and Client's Account.
5.5. For the Withdrawal of Funds from an Account, the Client uses the internal interface of the Website. The minimum withdrawal amount is an equivalent of 10 USD.
5.6. After the creation of the request, the Client should wait for the transaction to be executed.
5.7. The Client is solely responsible for the accuracy and reliability of the data entered in his/her Withdrawal request.
5.8. A Client’s request for Withdrawal of funds is processed by the Company within 3 business days following the day of filing such a request. The following limits apply to the Withdrawal of funds on the Platform: no more than 3,000 USD per day; no more than 10,000 USD a week; no more than 30,000 USD a month.
5.9. The request may be withheld by the Company's security service for up to 10 days.
5.10. Withdrawals from the Client's Account are carried out using the same payment details that were used to deposit funds and indicated during registration. In case other payment details are to be used, the Client must coordinate with the Customer Support Service to confirm the data and provided necessary documents.
5.11. The Company complies with (Anti-Money Laundering, AML), therefore the Company has the right to request the confirmation from the Client that the payment details to which the Withdrawal is being made belong to the Client. This proof can be the following: notarized and, if necessary, apostilled/legalized copies of documents. The Company can decline Withdrawal Request until it is certain that the bank account and payments details belong to the one person.
5.12. If the Company detects that the Account is used for exchange transactions between payment systems, the Company has the right to decline the Client's request for Withdrawal.
5.13. The Withdrawal fee is 10% from the Account Balance.
5.14. The Company shall not be liable for the actions of third parties harming the Client.
5.15. The Company's financial responsibility starts when the Client's funds are received in the Company's bank account and/or in the Company’s account and ends when the funds are withdrawn.
5.16. In the event of technical errors, the Company reserves the right to cancel such transactions.
5.17. The Company has the right to change a limit on the Withdrawal of Funds.
5.18. In cases where the Company's Security Service suspects the Client of fraud or deception, the Company has the right to block the Client's Account without prior notice and without the possibility of Withdrawing Funds.
6.1. According to this Agreement, the Client allows using only the Quotes that stream is the Company Server. He/she acknowledges the reliability of the information. The Company reserves a possibility of the Quotes not reaching the Trading Platform on time due to any reasons that do not depend on the Company.
6.2. The charts displayed on the Trading Platform are exclusively indicative. The Company can not guarantee that a Deal will be completed according to the Quote displayed on the chart as there is a possibility of a delay since the moment of giving the Trading Order.
6.3. The price of an Asset = purchase+sale/2.
6.4. A Client’s Trading Order may not be executed on an existing Quote and the Company corrects the financial result of the Deal in accordance with the market situation at the time of execution of that Trading Order or annuls the result of the Deal.
7. Procedure for Conducting Trading Operations
7.1. The processing of a Client’s Trading Orders takes place in the following order:
7.1.1. Every Client's Trading Order is tested for correctness on the Trading Platform.
7.1.2. The client’s Trading Order is transmitted to the Central Server, where it is retested.
7.1.3. After the Trading Order is processed on the Server the result of the processing is transmitted to the Trading Platform.
7.2. The processing time of a Client's Trading Order depends on the quality of communication between the Trading Platform and the Server. It also depends on the volume and unpredictable spikes of the Asset on the market. Usually, the processing time does not take longer than 4 seconds.
7.3. Opening Deals
7.3.1. The minimum amount of a Deal is an equivalent of $1 / €1 / ₽100. The maximum is $ 1000 / € 1000 / ₽65000. It depends on the chosen currency.
7.3.2. Clients' Trading Orders will not be considered as open for the following reasons:
- the Client submits the Trading Order before the first quote of the Deal Asset is received on the Trading Platform at the opening of the market;
- There are not enough available funds in the Client’s Account to open a new Deal.
7.3.3. A Client’s Trading Order to open a Deal may also be rejected by the Server under market conditions other than normal.
7.3.4 A Client’s Trading Order will be executed after a corresponding record appears in the Log File. Each Deal on the Server is assigned a unique identification number.
7.4. Closing Deals
7.4.1. The closing of the Deal occurs at the current price of the Deal Asset that is on the Server at the time of the closing of the Deal.
7.4.2. A Client’s Trading Order to close a Deal is considered completed after a corresponding record appears in the Log File.
7.5. The Company has the right to lower the number of Deals made by a Client by the Company's choice.
7.6. The Company has the right to change the percentage of yield, the size of a Deal (minimum and maximum amount), as well as the Expirations of the deals.
7.7. Malfunctions and/or failures in the operation of computer equipment and software of the Company, unstable Internet connections, interruptions in the transmission of information streams, interruptions in power supply, hacker attacks, force majeure circumstances, including irresistible forces can become a reason of acknowledgment of the Deal invalidation if it was executed under those circumstances.
8. Bonuses, promotions, and gifts
8.1. Bonuses can be credited to the Client's Account after a bonus or promotional programs conducted by the Company.
8.2. The amount and type of Bonus (deposit and no-deposit) completely depends on the Company and conditions of the promotion.
8.3. Bonuses credited to the Account cannot be considered as a financial obligation of the Company to the Client.
8.4. After a Bonus has been activated, the funds in the Client's Account become available for Withdrawal only after completing a Trading Turnover. It is mandatory. Mandatory Trading Turnover is the amount of the Bonus multiplied by its leverage factor, which cannot be less than 50%. The amount of each Deal recorded in the Mandatory Trading Turnover is directly proportional to the yield of the Asset of that Deal.
8.5. Deals with a zero result are not included in the Mandatory Trading Turnover.
8.6. Deals in the "Strike" Trading Mechanics are not included in the Trading Turnover.
8.7. One Promotion allows a Client to receive a Bonus only once.
8.8. The profit received by the Client for Deals using Bonuses may have limitations on the amount of Withdrawal. The maximum amount of Withdrawal of profits received using gift Bonuses is 50 USD.
8.9. The Client has to activate the Bonuses in the Client’s Personal Account within 3 days from the moment they are credited. If within3 days from the moment the Bonus is activated the Bonus is reset.
8.10. After a Bonus is activated, the Client has the right to cancel it by contacting the Company's Client Support Service.
8.11. A Bonus will be reset upon the expiration of a promotion.
8.12. A Client can have only one active Bonus in his/her Account. Another bonus will be activated after the Mandatory Trading Turnover for the active Bonus has been completed.
8.13. If the Client's Account Balance runs out of funds, the Bonus is reset.
8.14. If there are funds on the Client's account, but the Bonus has been moved to the archive it will be reset.
8.15. The Client has the right to participate in all available tournaments and promotions at his/her own risk.
8.16. Funds received as a Bonus can be available for Withdrawal only after completing a Mandatory Trading Turnover.
8.17. The Security Service of the Company can suspect a Client of fraudulent activity. If the fraud will be proved, the Client's balance will be annulled and the Account will be blocked. All the achievements prior to this moment are considered as fraud and will not be taken into consideration.
8.18. As part of promotions or special programs, the Company may provide additional gifts to the Client.
9. Client risks
9.1. The Client fully acknowledges the following:
- All the operations on the Trading platform is a huge risk of losing all the funds. It is essential to analyze his.her financial capabilities prior to engaging in trading activity.
- The Trading Operations that are carried out through the Trading Platform cannot be considered as deals concluded on an official exchange. They are over the counter, and therefore carry greater risk for the Client than official exchange deals;
- Any data and information received on the Website and its representatives are not a direct recommendation to conduct a Trading Operation or to deposit funds;
- he/she may incur financial losses as a result of malfunctions of the trading platform, an unstable internet connection, server issues, and other technical factors;
- the processing time of Client's Trading Orders may be changes - either extended or reduced. As a result of which the Client may incur losses.
9.2. The Client takes all risks associated with the legislation of his/her country of residence. It is possible that the services of the Company are restricted or prohibited in some countries.
9.3. The Company does not guarantee receipt by the Client of profit in any amount during the use of the Trading platform.
10. Guarantees and liability. Force majeure
10.1. The Company is neither a credit nor a bank institution. The Company does not attract monetary funds from individuals for the purpose of Clients receiving profit.
10.2. The Company does not provide its services to citizens and/or residents of the following countries: Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Ireland, Norway, Iceland, Liechtenstein, Sweden, United Kingdom, Israel, Saint Vincent and the Grenadines, Japan, the Russian Federation, Canada, USA, Australia, Malaysia, Austria, the Netherlands, Poland, Portugal, Hungary, Slovakia, Slovenia, Andorra, Vatican, Monaco, San Marino, Cyprus, Switzerland, Italy, Germany, Latvia, Lithuania, Luxembourg, Malta, Spain. It is possible that the Company's services might be contrary to the current legislation of those countries.
10.3. The Client guarantees the following when using the services of the Company:
- all the Deals are concluded exclusively at his/her own name and in their interest;
- he/she is not a citizen and/or resident of a country in which the Company does not render its services.
10.4 The Client is responsible for the documents presented for potential verification. The Company has the right to block the Account and Personal Account on the Website, in the event the Client provides falsified or invalid documents.
10.5. The company supports the AML policy. When registering on the Trading Platform, the Client ensures that the monetary funds deposited into the Account have not been obtained illegally. They are not the result of drug trafficking, kidnapping, or other criminal or illegal activities. The Client guarantees that he/she is not using the Website for money laundering. The Company reserves the right to block the Account and funds in the Client's Account if the Company suspects the Client of conducting illegal or unlawful activities and disclose all information relating to the Client to the competent authorities.
10.6. The Client is obligated to provide documents and carry out other necessary actions aimed at compliance with AML international legislation.
10.7. The Client is fully aware that actions performed that could destabilize the operation of the Website will lead to blocking of his/her account and refusal e to re-register that Client. If the Client has participated in destabilizing actions with third parties will be held responsible as well.
10.8. The Client is personally responsible for the login and password used to access their Account on the Website. The Client is obliged to prevent any third party from accessing their Account on the Website as the Company cannot be held responsible for an unauthorized login to the Client's Account. The Client has a right to request additional verification to identify him/her as the holder of the Account. he Company is not obliged to compensate for any losses or pay any profits to the Client resulting from unauthorized access to the Client's Account.
10.9. The Company shall not be liable for any actions of the Client and services used by the Client.
10.10. The Company shall not be liable for failing to fulfill its obligations, which arise as a result of computer equipment malfunctions, hacker attacks, or unstable Internet connections.
10.11. The Company shall not be liable for the Client's losses arising from force majeure circumstances. Force majeure circumstances include the following: natural disasters, man-made disasters, war or military actions, uprisings, terrorist acts, civil unrest, strikes, riots, the introduction of government restrictions affecting work of the Trading Platform, the introduction of changes to the market, and the suspension of exchange trading.
10.12. If during the conducting of Trading Operations on the Website, the Client makes a profit using specialized software, so-called “bots,” or artificial intelligence in any form, the Company will block the funds on the Account and Personal Account without granting the right to withdraw funds.
10.13. In the event that the Client violates the terms of this Agreement, the Company has the right to terminate this Agreement unilaterally without prior notification of the Client. The Company may not notify in advance about this decision and block the funds on the Client's Balance, as well as deny further registration of this Client without the right to restore access to Personal Account.
11. Complaints and dispute resolution
11.1. In the event of a dispute, the Client first must contact the Company's Client Support Service. If the Client deems the answer given by the Support Service to be unsatisfactory the Client has the right to contact the Support Service with a request to forward the question to the Company’s Dispute Resolution Department, or to send the complaint via email indicated on the Website.
11.2. When submitting a complaint, the Client must indicate the following information:
- the Client's first and last name;
- the Client's email address;
- date and time when the dispute arose;
- the nature of the dispute;
- proofs confirming the dispute;
The Client must provide all the above information in full.
11.3 In the event of non-compliance with the complaint with the requirements set out in clauses 11.1 and 11.2 of this Agreement. In case the Client makes provocative statements, unfounded accusations, or threats of “denigrating” the business image of the Company in the Complaint, the Company has a right to deny in consideration of the complaint and to appeal against them to the competent authorities.
11.4. When considering a Client's complaint the Company is obliged to give a response within 2 days from the day the complaint is received and provide the result of preliminary check-up. Moreover, the Company has to indicate a deadline for making a decision regarding the complaint.
11.5. Within 10 business days, the Company has to provide the Client with an answer about the measures taken to resolve the dispute. The Company is entitled to extend the time for consideration of the complaint about another 10 days, in case any additional details arise.
11.6. Complaints about the recovery of lost profits and/or compensation for moral damage by the Company are not accepted for consideration.
11.7. A dispute is deemed to be settled if within 5 days from the moment a response is sent to the Client, the answer is not appealed by them.
11.8. If the dispute between the Client and the Company has not been resolved within 1 month from the date of filing the complaint, the Client has the right to apply to the Financial Commission or to an authorized court under Saint Vincent and the Grenadines law to resolve the dispute.
12.1. To address the Company, the Client may use the following methods:
- to the email address [email protected]
- via online chat.
12.2. The Company considers the email address and phone number provided during registration in the Client's Personal Account as his/her contact information.
12.3. The Company is not responsible for incorrect indication by the Client of his/her contact information on the Website.
The Company does not provide data on the operations of Clients to third parties unless there is an official request is made by a competent national authority.
14. Validity, amendment, and termination of this Agreement
14.1. This Agreement becomes legally binding at the time of the Client’s registration on the Website.
14.2. The obligations and rights of the Client and the Company established by this Agreement are considered a long-term act.
14.3. The Company has the right to make amendments to this Agreement at any time. The Amendments will come into force from the moment the amended text of the Agreement is posted on the Website. the Client is informed about the changes via email.
14.4. If the Client does not agree to the amended version of the Agreement, he/she must block the Account via the Personal Account by contacting the Company's Client Support Service. By this time the Client has to make Withdrawal of Funds from his/her account.
14.5. This Agreement may be terminated as follows:
- at the initiative of the Client or the Company;
- in the case of death of the Client or recognition of their legal incapacity;
- after the liquidation of the Company.
14.6. Regardless of the basis for termination of the Agreement, the Company undertakes to fulfill its obligations to the Client in the manner provided for in this Agreement.
14.7. The Client has the right to terminate this Agreement at any time.
14.8. The Client must block their Account if he/she decides to terminate the Agreement. This can be done by contacting the Company's Client Support Service, a by performing these actions solely by Withdrawing of Funds from the Account.
14.9. In the case of restoring of the Client's Account from the archive, this Agreement resumes its effect according to the version valid at the time.
14.10. The Company has the right to terminate this Agreement unilaterally without providing reasons.
14.11. In the event of termination of its activities, the Company is obliged to notify the Client about this no later than 1 month prior to the termination of its activities.
14.12. n the event of termination of its activities, the Company is obliged to pay the Client the funds in his/her Account at the time.
15. Final provisions
15.1. The Client does not have the right to fully or partially transfer their rights and obligations under this Agreement to a third party.
15.2. In the case of a discrepancy between the text of this Agreement is English and the text in other languages, the version of the Agreement in English shall prevail.
15.3. This Agreement is governed by the laws of Saint Vincent and the Grenadines. Any dispute arising out of or in connection with this Agreement shall be submitted and resolved by the court in accordance with the laws of Saint Vincent and the Grenadines.