Agreement for the provision of practice account to a retail person
This Agreement is entered into by and between:
IQOption Ltd. with company No. 24840 IBC 2018, and registered at: Hinds Building, Kingstown, St. Vincent and the Grenadines (hereinafter referred to as the Company) on the one part and the individual client who has registered for a Demo Account (as defined below) with the Company, on the other part (hereinafter referred to as the Client).
(collectively the Company and the Client hereinafter referred to as the Parties)
By the creation and registration of a Demo Account by a client, the Client agrees to and accepts:
The Company will provide a Free Practice Account to the Client and credit virtual funds to the balance of such account (Demo Account). The virtual funds are NOT considered real money and have no value. Virtual funds may not be withdrawn or transferred to other accounts you hold with the Company or with third parties.
The Company agrees to provide the Client with the Demo Account subject to the Client:
The Client by registering for a Demo Account declares and confirms all the above representations.
Without derogation from the above, the Company reserves the right, acting reasonably, to suspend or refuse access to and use of, the Company’s trading platform to anyone at its sole and absolute discretion.
The Demo Account is provided to give Clients a demonstration of the Company’s trading platform and to offer Clients the opportunity to trade on simulated real trading conditions. This further allows the Client to gain more experience prior to trading with real funds and facing actual risk. Clients may test their trading strategies and become familiar with the trading platform at their own pace.
The Client is able to place trades and open positions (demo deals) in the Company’s trading platform and these positions will be kept open for a maximum period of one (1) month. However, it should be noted that these trades are not executed in the market.
The Client is able to use charts, follow market trends, utilise and familiarize themselves with all the tools offered on the Company’s trading platform and participate in free of charge trading Tournaments offered by the Company (“Tournaments”). In case the Client participates in Tournaments, the provision of section 6 and the Terms and Conditions of the Agreement for the Provision of real accounts shall apply.
The Client is able to request additional virtual funds through the Demo Account and trade for an unlimited period of time with no obligation to deposit real funds.
The Company is unable to and, for the avoidance of doubt, in no way does the Company hereby guarantee that the information, content and functionality provided through the Demo Account will be error-free and/or does not accept any liability for losses incurred (either directly or indirectly) as a result of trading on a Demo Account.
The Company reserves the right to make changes, amend, alter, modify, delete or add, at any time and without notice, to these Terms & Conditions and to the content and availability of the Demo Account (the Changes). The Company shall post such Changes and/or add such Changes to the Terms & Conditions on the Company’s Website, and such notification shall be deemed as sufficient notice to the Client and the Changes shall be deemed as accepted by the Client upon the next time the Client shall login to his Demo Account or following three days from the date of the Changes, whichever occurs earlier.
The Client, upon his/her registration and/or creation of a Demo Account, hereby warrants and represents to the Company the following:
Trading using a Demo Account simulates real trading conditions but does not expose you to risk of loss of real funds. Trading in a Demo Account exposes you to virtual risk and cannot give you an indication of the emotions linked to trading with real funds and real losses. If you feel you are ready to move onto a real trading account, understand that you may not have developed proper risk management techniques and/or market awareness and/or trading skills, by using the Demo Account.
Clients are given the opportunity to enter into Tournaments in which virtual funds are traded. The top traders in the tournaments are awarded real funds into their trading accounts. They accept that the Company cannot guarantee fair play amongst all participants in the tournaments and enters them at their own risk.
Clients shall accept the Terms and Conditions for the Provision of Investment Services, Activities, and Ancillary Services for real accounts by clicking the acceptance box upon registering for a tournament account.
The Client acknowledges and agrees that the Company will have the right, at any time and for any reason and without justification, at its sole discretion, to cease offering Tournaments.
The Company reserves the right at its discretion to terminate the Client’s trading account where it has identified that the Client has performed an act with the intention and/or effect of manipulating and/or abusing the Company’s Tournament scheme. The Company shall have no liability towards the Client and no obligation to pay the profit of the Client for such reasons.