Terms and conditions
A. Introduction and scope of the agreement
By accessing and using Deriv, you accept and agree to be bound by these terms and conditions. It is your responsibility to read and understand the following terms and conditions. These terms and conditions may be supplemented from time to time by additional terms and conditions applicable to a particular company or products.
The terms “We”, “Us”, “Our”, and “Ours” shall denote Binary (SVG) Ltd.
The services offered on Deriv are only suitable for you if you are able to bear the loss of all the money you invest and if you understand and have experienced the risks involved in the acquisition of such trades. International currency or commodity prices are highly volatile and difficult to predict. Due to such volatility, no trade purchased in Our system (whether or not the payout exceeds the premium amount) can be considered a safe trade.
The terms and conditions are provided in several languages. We attempt, as much as possible, to provide a faithful translation from the English version, reflecting the same principles. In the event of any differences between the English version of the Deriv website and any other language, the English version shall prevail.
B. Governing laws and jurisdiction
It is your responsibility as you access Deriv to make sure that you understand and fully comply with the relevant laws or regulations of your own country. Deriv does not constitute and may not be used for the purposes of an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Access to Deriv and the offering of trades via Deriv in certain jurisdictions may be restricted; therefore, as you access Deriv, you are required to know about such restrictions and observe them.
The transactions performed on Deriv and the relationship between you and Us are governed by, and construed in accordance with, the laws of the country where We are incorporated (the "Jurisdiction"). You agree to submit to and bring any claim you may have before the Jurisdiction courts, and these courts will have sole authority to settle any disputes that may arise in relation thereto.
You agree that in any legal, arbitration, mediation, regulatory, administration, or any other proceedings initiated by you or by Us, Our records of your dealings shall constitute evidence. You shall cooperate fully with any investigation by any regulatory authority.
If any provision of this agreement is held invalid or unenforceable by a court or regulatory body of competent jurisdiction, the remainder of this agreement shall remain in full force and effect.
The applicable Jurisdiction shall be St. Vincent and the Grenadines.
You may communicate with Us via Our website, email, phone, or exceptionally by post.
Generally, We will communicate with you via Our website or send an email to the email address that you have provided upon account opening. We will communicate with you in English or, when possible, in your preferred language as selected at account opening. If you utilise anti-spam filtering that requires a fee to receive emails from Us, you must make sure that the communication We send you will get through to you.
D. Account Management
You may only open an account on Deriv upon meeting the following conditions:
You have read the terms and conditions in full and have understood that you will be buying and selling trades subject to these terms and conditions.
You have read Our security and privacy statement and are aware of how We process information.
You are acting for your sole benefit and not for or on behalf of any other person.
You are over 18 years of age.
You are not resident in a restricted country such as Canada, Hong Kong, Israel, Jersey, Malaysia, Malta, Paraguay, the United Arab Emirates, the USA, or any other restricted country that has been identified by the FATF as having strategic deficiencies.
You have sufficient experience and knowledge in matters of such trading to be capable of evaluating the merits and risks of acquiring trades via Deriv and has done so without relying on any information offered on Deriv.
You may choose to close your account yourself or by contacting Us. You can only close your account and withdraw any pending funds if you do not have any open trade positions and have complied with the requested "Know Your Client" procedures.
If you do not comply with the conditions of using Deriv, We may cancel your account and withhold any funds accumulated in it.
We do not provide a marketplace for investments, securities, derivatives, or speculations. Each trade that you purchase on Deriv is an individual agreement between you and Us and is not a security, nor is it transferable, negotiable, or assignable to, or with, any third party.
Acquisition of trades through Deriv must be effected in accordance with the terms and conditions presented. Acquisition of a trade is completed when the trade has been customised, the premium (or the payout, as the case may be) has been calculated, and payment has been verified.
Rules and Restrictions
We may impose certain rules and restrictions on the placing of market orders on Deriv. Such rules may change from time to time according to market conditions and other factors. The following indicative rules are currently in place:
Trades are not usually offered at odds under 0.05 to 1 (i.e. payouts of under USD/GBP/EUR/AUD 1.05 for each USD/GBP/EUR/AUD 1 staked).
Trades are not usually offered in the last hour of trade of any given market (for foreign exchange markets, the restriction may be extended up to three hours).
Trades are not usually offered when the underlying market is at its intraday high or intraday low.
Trades are not usually offered during the first 10 minutes of market trade.
During fast markets (i.e. periods of very fast market movements), trades may be offered at prices more unfavourable than those offered in usual market conditions.
Certain limits are imposed as to the acceptable levels for barrier/strike prices of trades. Typically, the barrier/strike may not be too close nor too far from the current underlying market level.
Some trades may not expire on a weekend; therefore, the expiry date of a trade may be pushed back to the following Monday if a trade expiry date falls on a Saturday or a Sunday.
Market prices are updated at most once per second. For any given second, the market price will be updated to the first tick, if any, received in that particular second on Our data feed.
We do not guarantee the ability to sell a trade prior to its expiration time.
Time restrictions are imposed on the availability of certain trades.
The following are conditions of using Deriv:
If you are employed in the banking and/or finance sector, you must not conduct trades through Deriv unless your employer is aware of your trading and the practice is not against your employer's policies.
You agree to comply with Our reasonable requests so We can verify your compliance with this term.
We shall determine trade payouts by reference to the market quotes as displayed on Deriv relevant to the underlying index(ices) of the trade(s) or from the interbank trading data that We receive for forex quotes or commodity prices as displayed on Deriv. You should note that different markets may close at different times during the day due to local trading hours and time zones.
For forex quotes, We define the closing times as shown in the Market opening times section of Deriv. In the event of any dispute regarding market or settlement values, Our decision shall be final and binding. You should note that certain markets (such as indices) are not open throughout the day and that trading may not be available when the markets are closed.
We shall use Our best estimate of market price movements and the expected level of interest rates, implied volatilities, and other market conditions during the life of the financial trade to calculate the price that you will pay (or the payout that you will receive) for financial trades on Deriv at the time that the financial trade is purchased or sold. The calculation is based on complex mathematics and includes a bias in Our favour. The financial trade prices (or the payout amounts) that We offer you when you are speculating on the market or index prices may substantially differ from prices available in the primary markets where commodities or trades thereupon are traded, which is due to the bias favouring Us in the price calculation system referred to above.
The charting data that We provide is indicative only and may at times differ from real market values. Our decision as to the calculation of a financial trade price will be final and binding. We allow the option to sell trades before the expiry time of some trades, but We are not obliged to do so and can suspend this option depending on the current market conditions. Trades may be amended when the underlying asset value is adjusted by corporate actions during the trade period.
In deciding whether an error is a Manifest Error, We may take into account any relevant information, including the state of the underlying market at the time of the error and any error within, or lack of clarity of, any information source or pronouncement. You have a duty to report to Us any such problems, errors, or suspected system inadequacies that you may experience and may not abuse or arbitrage such system problems or errors for profit. We will endeavour to resolve any such difficulties in the shortest time possible.
Any amendments to the contractual terms of Manifestly Erroneous trades shall be reasonable and fair and may involve closing and/or opening of positions, placing/deleting orders without your involvement, making changes in open positions, deleting trades from trading history, etc. Monies exchanged between you and Us in connection with the Manifestly Erroneous trades shall be returned to the recipient according to the amendments made to the contractual terms and conditions of this agreement.
F. Client funds
The money you give Us is not invested in any securities, futures, currencies, derivatives, or other investments on your behalf.
We have various deposit methods available, each with their own processing times. Some methods may not be available for withdrawal.
You should not use your account as a banking facility and should only make deposits with a view to using funds to place trades. We are not a financial institution, and you will not receive interest on deposits.
We hold client funds in bank accounts that are separate from the operational accounts, and We have arranged so that the assets in your account will be returned to you in the event of insolvency.
Internal currency transfers between accounts are allowed up to a maximum of USD 2,500 or equivalent and are subject to a currency conversion fee. Transfers are allowed between any available currency pair.
G. Fraud and money laundering
You shall not use Deriv for the purpose of money laundering.
We use best-practice anti-money laundering procedures. Funds that originate from criminal activity are not accepted. We are bound to report suspicious transactions to relevant authorities.
All transactions are checked to prevent money laundering, which may have several effects on you such as:
You must complete the account opening form and provide all requested details to establish your identity, such as valid identification, address, email address, and personal telephone number.
Withdrawals may only be paid to the account holder. You must ensure that all necessary details are provided to enable Us to process the withdrawal to the payment method selected.
You must register personally.
You shall not hold or pool third-party funds into your own account that you hold with Us.
It is prohibited to sell, transfer, and/or acquire accounts to/from other clients. Transfer of funds among other clients is also prohibited.
No withdrawals and/or refunds may be collected on accounts opened under false names or on multiple accounts opened by the same person.
We may, at Our sole discretion or as required by regulation, conduct appropriate "Know Your Customer" (KYC) procedures and ask you to provide proof of identity (such as a notarised copy of passport or other means of identity verification as We judge to be necessary), and We may suspend an account until satisfactory identification information, evidence of identity and address, source of funds, and/or source of wealth have been provided.
You agree that We may use the personal information that you provide to conduct appropriate anti-fraud checks. The personal information that you provide may be disclosed to a credit reference or fraud prevention agency, which may keep a record of that information.
We have the discretion to request information from you to verify your compliance with these terms. If you do not comply with Our reasonable request for information, We may cancel your account and withhold any funds accumulated in it.
H. Our rights
We reserve the right to suspend the operation of Deriv or some of its sections in the following cases:
When, as a result of political, economic, military, or monetary events (including unusual market volatility or illiquidity) or any circumstances outside Our control, responsibility, and power, Deriv’s continued operation is not reasonably practicable without materially and adversely affecting and prejudicing your or Our interests, or if, in Our opinion, a price cannot be calculated for financial trades
When there is a breakdown in the means of communication normally employed in determining the price or value of any of the financial trades or where the price or value of any of the financial trades cannot be promptly or accurately ascertained
In any event of an error in current prices, published odds, or trading software
We have and retain the right to terminate any event or trade, including but not limited to the occurrence of any of the above events.
We reserve the right to make changes to these terms and conditions. Any change to the terms and conditions made whilst Deriv is in operation will not apply retrospectively and will only apply to acquisitions of trades made after such a change. If any material changes to these terms and conditions are made, you will be notified in advance and shall either accept or decline to agree. If you decline to agree, your account may be frozen, suspended, or cancelled. You shall be allowed to withdraw any pending balance on account, subject to KYC verification. In such an event, We may at Our sole discretion close out your open trades at prices We consider fair and reasonable.
We reserve the right to adjust your account if any trade results in disruption or in case of a miscarried or aborted trade.
Although We have and retain all rights to refuse to do business with you and close your account, We warrant that all contractual obligations that are already made shall be honoured.
We reserve the right to void or amend the contractual terms of any transactions that We reasonably believe are entered into at prices that do not reflect fair market prices or that are entered into at an abnormally low level of risk due to an obvious or palpable error (a “Manifest Error”).
We reserve the right, in Our sole discretion, to refuse and/or cancel services, refuse and/or reverse the trades of, and charge deposit and/or withdrawal fees to anyone for any reason, including but not limited to the following:
Any instance where We believe that your activity on Deriv may be illegal in your country or state or that it may contravene any laws, regulations, instruments, ordinances, or rules that govern the operation of any exchange, financial market, or financial regulatory environment
Any instance where We may be approached or contacted by legal authorities or regulators from your country or state
Any instance where We may suffer any pecuniary, fiscal, or regulatory disadvantage because of your activities on Deriv
We have the right to prohibit you from trading on Deriv if you have insider knowledge of any financial market or instrument.
We reserve the right to refuse to do business with you, to discontinue to do business with you, and to reverse your transactions if you do not accept or adhere to the anti-money laundering processes.
We have the right and obligation not to accept the information you have provided if We know or have a reason to believe that it is incorrect, inaccurate, or incomplete. In such cases, We may ask you to clarify or correct the details provided.
We reserve the right to make corrections to interbank trading data in the event of mispriced or typographically incorrect data.
Should a disruption occur in the data feeds that We cannot readily rectify, We reserve the right to refund the trade purchase.
We reserve the right to cancel/prohibit the use of deposit bonus and/or free bonus promotions at Our own discretion at any time.
If your account has no recorded transaction for over 12 months, We reserve the right to charge you a dormant fee of up to USD/EUR/AUD/GBP 25, or equivalent of USD 25 in any other currency as calculated in accordance with the current exchange rate published by www.xe.com or any other recognised data provider as on the date of charging of the fee, and repeat doing so every six months for as long as your account remains dormant.
If you make repeated deposits and withdrawals without placing commensurate trades, We reserve the right to pass on to your account, without prior notice, any bank charges that We have incurred before closing your account.
We reserve the right to have risk limits in place, which affect your trading limits and may not be restricted solely to instruments and trade types. We may also impose volume trading limits on your account at Our sole discretion. Trading volume limits can be viewed in the Security and privacy section of your account. If your account balance exceeds your maximum account size, please make withdrawals to bring the balance below this limit.
We do not tolerate any form of inappropriate behaviour. This includes the usage of offensive language. We reserve the right to terminate or restrict your account if there is any form of inappropriate behaviour on your part.
Except in the case of Our negligence, fraud, or default, We will not be liable in any way to you in the event of force majeure, or for the act of any government or legal authority, or for the failure of or damage or destruction to Our computer systems, data, or records, or any part thereof, or for delays, losses, errors, or omissions resulting from your failure in, or mismanagement of, any telecommunications, computer equipment, or software or any damages or losses deemed or alleged to have resulted from, or been caused by, Deriv or its content.
Any information given on these pages and/or related emails or newsletters that We have sent you is not intended as financial or investment advice, and We will not accept any liability in this respect.
Neither We nor any of Our directors, officers, managers, employees, or agents shall be liable for any loss, damage, or debt to you that has arisen directly or indirectly out of or in connection with this agreement.
You agree to be fully and personally liable for the due settlement of every transaction into which you enter, using your account with Us.
You are responsible for ensuring that you alone control access to the account and that no minors are granted access to trading on Deriv.
You also indemnify Us against all costs and losses of any kind whatsoever as may be incurred by Us as a result, direct or indirect, of your failure to comply with any and all of your obligations set forth in this agreement and/or Our enforcement against you of any and all of Our rights under this agreement.
K. Force Majeure
No party shall be deemed liable for any failure to meet its obligations under this agreement if it is prevented from performing those obligations by an event of Force Majeure. Force Majeure events are events beyond the control of either of the parties and are not reasonably foreseen; they materially affect the performance of any of the parties’ obligations under this agreement. Force Majeure events may include but are not limited to acts of God, war, state or governmental actions, exchange controls, nationalisations, devaluations, forfeitures, natural disasters, terrorism, and other inevitable, unforeseeable, unanticipated, and unpredicted events that are not dependent upon the will of the parties.