Permissible Usage Policy
(Last update: 31-Jul-16)
The purpose of this Policy is to define the guidelines applicable to use of the SpotOption platform (“the platform”) by all Clients (“You”).
In accordance with the Software Agreement between You and SpotOption Limited (“the Company”), use of the Platform is subject to the company’s policies and guidelines as published on the SpotOption website and updated from time to time. This Permissible Usage Policy, in its most current form, forms part of the contract between SpotOption and its Clients.
The purpose of this Permissible Usage Policy is to convey conditions of use that SpotOption has adopted any may not be specifically contained in the Software Agreement between You and SpotOption. This Policy is not intended to override or replace the Software Agreement, and in case of a contradiction or inconsistency – the Software Agreement shall prevail.
This document shall be updated periodically. You should check this page periodically to ensure their use of the SpotOption platform is consistent with the most current version of this Policy.
If anything in this Policy is unclear, please contact Your account manager for clarifications.
Regulatory Compliance and Licensing
You may only use the Platform in accordance with all applicable laws and regulations, including but not restricted to any applicable licensing requirements. This is entirely under Your responsibility and SpotOption shall not be responsible for any illegal, non-compliant or unauthorized use of the Platform by You. You may not rely on SpotOption or make any representations with respect to SpotOption in this regard.
It is also Your responsibility to ensure that Your Traders are aware of the fact that binary options trading on the Platform is intended for users who are not prohibited from participating in trading activity under the laws of any applicable jurisdiction.
You may not use the Platform for trading with Traders physically located in the United States of America, other than through a licensed exchange.
Privacy and Data Protection
You must obtain from Your Traders the necessary consent for storage and processing of their data in accordance with applicable laws.
Your site must contain a prominent risk warning, to be displayed to Traders before they commence trading activity. The risk warning should convey the message contained in the following text – “The value of a particular investment can both increase and decrease, and investors may lose their investment. Before investing – consider your available resources, your level of experience and the risks involved in investing.”
Trader Complaints and Disputes
It is Your responsibility to handle complaints from Traders and disputes with or between Traders. Your site must include contact information and instructions regarding the lodging of complaints and the resolution of disputes.
You may not include the Company’s contact details on your site, and you may not refer Traders to the Company for resolution of complaints or disputes.
If a trader approaches the Company with a complaint about use of Your site, we will refer them to you and you must address their complaint directly and within a reasonable period of time.
Processing of Funds and Trader Transactions
Brokers / white labels that unreasonably or unlawfully refuse or delay execution of trader transactions (particularly – withdrawal requests), will not be allowed to use the Platform.
You may not maintain a ‘nostro’ account on the platform.
Neither You nor Your employees may trade on the platform.
The Platform is intended solely for use by retail Traders trading on their own behalf.
You may not knowingly allow third parties to trade on behalf of registered Traders (i.e. “managed accounts”), with the exception of licensed brokers transmitting orders on their clients’ behalf.
You may not offer Traders the possibility of having their account managed by Yourself.
Clients that operate “managed accounts” on behalf of their Traders will not be allowed to use the Platform.
Insider trading or any other form of market abuse is strictly prohibited and must immediately be suspended. You must immediately report to the relevant authorities any information you have regarding such activity or regarding suspicious or abusive use of the Platform.
Use of the “SpotOption” and “SpotOption Exchange” Brand
You may not make any use whatsoever (either on Your website or otherwise) of the SpotOption, SpotOption Capital Markets or SpotOption Exchange trademark, brand name, corporate or licensing information, without the Company’s specific and advance approval.
You must observe fair, honest and clear marketing practices when marketing services to clients and potential clients.
In particular, you must avoid aggressive, unfair or misleading marketing practices and the information you present to clients and potential clients must be truthful, unbiased and not misleading.
When using another party to distribute marketing communications on your behalf, it is your responsibility to ensure that all marketing materials and practices comply with the requirements above and are fair, clear and not misleading.
Working with Affiliates
When working with affiliates, Clients must ensure that their affiliates’ conduct does not violate the Client’s obligations under the Software Agreement, this Policy or applicable laws or regulations. Specifically, due to concerns that have arisen as a result of affiliates’ conduct, Clients must adhere to the following –
1. Lead data from affiliates may only be submitted through the Clients’ sites and must be securely stored in the Clients’ databases, to prevent breach of privacy or data theft. Lead data may not be submitted using batch files or in any other method that is vulnerable to breach or theft.
2. Clients must pre-approve their affiliates’ acquisition funnel and content, to prevent the use of misleading acquisition methods or content or other violations of applicable regulations, this policy, and fair and responsible marketing standards.