Public offer agreement
This public offer agreement, hereinafter referred to as the Agreement, governs the procedure and rules for the provision of the VOREN service presented on the Internet at: www.VOREN .pro. This Agreement is accepted in electronic form and does not require its signing by the parties. Opening a Client Profile on the official website of the VOREN Company means automatically the Client accepts all the provisions of this Agreement. The agreement remains in effect until terminated by one of the parties.
1. Terms and definitions
Client's Cabinet - a workspace created in the web interface used by the Client to perform trading and non-trading operations and enter personal information. Client - any person over 18 years of age using VOREN services in accordance with this Agreement. Company - an individual named "VOREN", providing, in accordance with the provisions of this Agreement, the conduct of arbitration transactions for the purchase and sale of binary options contracts. A non-trading operation is any operation related to replenishing the Client's trading account with the necessary funds or withdrawing funds from the trading account. For non-trading operations, the Company uses electronic payment systems, selected at its discretion and tied to the appropriate interface in the Client Cabinet. Client profile - personal data about the Client, provided by him / herself when registering in the Client's Cabinet, and stored on the secure server of the Company. Trading account - a specialized account on the Company's server, which ensures the Client's trading operations. Trading operation is an arbitrage operation for the purchase and sale of option contracts, performed by the Client using the trading terminal in the Client's Cabinet. Trading server - a server owned by the Company with specialized software installed on it, serving for conducting trading and non-trading operations of Clients and tracking statistics of these operations. Trading terminal is a specialized interface located in the Client's Cabinet connected to the Company's trading server, with which the Client performs trading operations.
2. General provisions
2.1. The service provided by the Company is an Internet service that uses the official website of the Company and its trading server to perform trading operations. The use of the service presupposes the availability of a high-quality and stable Internet connection on the Client's side.
2.2. In its activities, the Company is guided by the existing legislative norms in relation to combating money laundering and terrorist financing. The Company requires the Client to correctly enter personal data and reserves the right to identify the Client using the means available to it, namely:
2.2.1. Uploading scanned copies of the documents proving the identity of the Client and the address of actual residence in the client's profile;
2.2.2. Phone call to the Client at the specified phone number;
2.2.3. Other means, necessary at the discretion of the Company to confirm the identity and financial activities of the Client.
2.3. The client, regardless of his legal status (individual or legal entity), is prohibited from having more than one trading account with the Company. The Company reserves the right to terminate this Agreement or reset the results of trading operations in the event of an attempt to re-register the Client's Profile in the Client's Cabinet or cases of using several trading accounts by the same Client.
2.4. The client's profile is registered in the protected area of the Company's official website in the Client's Cabinet. The Company guarantees compliance with the requirements to ensure the confidentiality of all personal data of the Client in accordance with the provisions of Section 8 of this Agreement.
2.5. The Client is responsible for the safety of the key data received from the Company for entering the Client's Cabinet, in case of loss of access to the Client's Cabinet, he is obliged to immediately notify the Company in order to block funds on his trading account.
2.6. When the Client registers his Client Profile, the Company automatically provides him with a Trading Account, on which the Client performs all trading and non-trading operations.
2.7. The Company quotes Clients using its own paid sources of quotes, applying the processing of the quote stream in accordance with the needs to ensure the liquidity of the contracts opened by the Clients. Quotes of any other companies, as well as those taken from other, even paid, quotation sources, cannot be taken into account when considering disputable situations.
2.8. The Company provides the Client with a specially prepared web interface (trading terminal) for performing trading operations within the Client's Cabinet.
2.9. The Company prohibits the Client from resorting to any type of fraud that may be regarded as such by the Company in the client's actions aimed at making a profit using actions or operations not provided by the Company, vulnerabilities in the system, speculation on bonuses, trading in collusion by a group of persons, including, but not limited to, hedging transactions from various accounts. In this case, the Company reserves the right to terminate this Agreement or reset the results of trading operations.
2.10. The company reserves the right to terminate this agreement or nullify the results of trading activities in cases of detection of unfair attitude towards the Company as a whole and to the services and services provided in particular, as well as including, but not limited to, insulting employees and partners of the company, defamation, publication of false information about company, negative reviews, an attempt at blackmail or extortion by the Client.
2.11. The Company reserves the right to prohibit the Client from copying the rates of other traders in the event of speculation in copying, copying in small volumes, and other methods of abuse at the discretion of the Company.
2.12. The client undertakes to comply with the legislation of the country in which he operates.
2.13. The client acknowledges and accepts responsibility for the payment of all taxes and fees that may arise as a result of trading transactions.
3. Procedure for performing non-trading operations
3.1. Non-trading operations include operations of replenishment by the Client of his trading account and withdrawal of funds (deposit and withdrawal of funds). All payments are final (without the possibility of revocation) after their complete processing and crediting.
3.2. Non-trading operations are performed by the Client using the functionality of the Client Cabinet. The company does not carry out non-trading operations using conventional means of communication (Email, skype, Live-chat, etc.).
3.3. When performing non-trading operations, the Client is allowed to use exclusively personal funds in electronic and bank payment accounts belonging to the Client.
3.4. The trading account currency is the US Dollar. The balance of funds on the Client's trading account is displayed in this currency. The trading account currency cannot be changed. When the Client deposits funds to his trading account, the amount of the deposit is automatically recalculated from the currency used by the Client to the currency of the trading account. The same operation occurs when processing withdrawals.
3.5. The company, if it becomes necessary to recalculate funds from one currency to another, uses the conversion rate of the electronic payment system at the time of the non-trading transaction.
3.6. The company sets the following minimum amounts (unless otherwise specified) for performing non-trading operations:
- replenishment of a trading account - 50 USD; < br> - withdrawal from the trading account - 10 USD.
3.7. If the Client uses different wallets to replenish a trading account, the withdrawal of funds to them is carried out in the same proportion in which the replenishment took place. At the same time, the amount of trading profit can be divided in half for different wallets. If the Company is unable to ensure the withdrawal of funds to the details specified by the Client, the Company is obliged to notify the Client about this in order to change the selected payment systems or wallets.
3.8. If the Client uses bank cards to fund a trading account, the Client agrees to that the Company can save the payment details of a bank card in order to implement the function of "quick replenishment" of the trading account in one click, when the Client uses the appropriate functionality in the Client's Cabinet. The client can deactivate this service upon request by contacting the Company's support service.
3.9. In order to ensure compliance with the requirements of generally accepted legislative norms, as well as to protect the Clients' funds, the withdrawal of funds is carried out in the same payment system in which they were deposited, using the same payment details.
3.10. The company does not allow the use of the service provided to it as a means of deriving profit from non-trading operations, or in a way other than the direct use of the service provided to it.
4. The order of execution of trading operations
4.1. Trading operations include arbitrage transactions for the sale and purchase of contracts for those trading instruments provided by the Company for work. These operations are carried out using a trading terminal provided by the Company inside the Client's Cabinet. All trading operations of the Clients are processed by the Company using a trading server at its disposal with the appropriate software.
4.2. The company provides quotation in the trading terminal, indicating the price in a single-digit quotation Plost, which is calculated according to the formula: Рlost = Pbid + (Pask-Pbid) / 2 Where: Plost is the price that is used when performing trading operations and at which opening and closing transactions are performed contracts. Pbid is the Bid price provided to the Company by its liquidity source. Pask - Ask price provided to the Company by its liquidity source.
4.3. Trading operations on the Company's trading server are also performed at the Plost price. The company allows trading operations and carries out quotations around the clock.
4.4. When performing trading operations, the Company uses the “Market execution” quotation technology and commits a transaction at the price that exists on the Company's trading server at the time of processing the Client's order in the order of the client's requests. The maximum deviation of the price indicated in the Client's trading terminal from the price existing on the Company's trading server does not exceed the value of two average spreads for a given trading instrument in the periods corresponding to the value of the average statistical volatility for this instrument.
4.5. Execution of trading operations is possible only after the registration of the Client within the Client Cabinet and the creation of a Client Profile by him with further replenishment of his trading account.
4.6. In trading operations, the funds of the Clients are used, which they have deposited into trading accounts, or the credit funds of the Company provided to the Clients on the conditions specified on the official website of the Company.
4.7. The Company has the right to refuse the Client to conduct a trading operation in the event that if, at the time of the Client's decision to open a contract, the Company does not have sufficient liquidity for the trading instrument chosen by the Client by the time the contract expires, set by the Client. In this case, after pressing the appropriate button in the trading terminal, the Client receives a corresponding notification.
4.8. The amount of the premium paid to the Client in the event of a positive outcome of the contract concluded by him is determined by the Company as a percentage in relation to the amount of the collateral determined by the Client himself at the time of the conclusion of the contract using the corresponding element of the trading terminal interface.
4.9. As part of the service provided by the Company, Clients are offered to buy, sell contracts or not participate in transactions. Depending on the method of buying or selling contracts, they come in different classes.
4.10. The client has the opportunity on his trading account to keep open at the same time any number of trading operations for any available expiration date of any class of contracts. At the same time, the total volume of all newly opened trading operations by the Client cannot exceed the balance indicated in the trading terminal.
4.11. The company implements the following mandatory mechanism for performing trading operations for working with contracts of the "High - Low" class:
4.11.1. The Client, using the trading terminal provided to him inside the Client's Cabinet, determines the parameters of the trading operation: trading instrument, the expiration time of the contract, the volume of the transaction, the type of contract (“Call” or “Put”). The price displayed in the Client's trading terminal is the Plost price.
4.11.2. Depending on the current volume of liquidity from liquidity providers, the profitability of the contract is determined in percentage in case of its positive execution. The level of profitability is set for each specific transaction and is displayed in the corresponding window of the Client's trading terminal.
4.11.3. When the Client presses the "Call" or "Put" button in the trading terminal, the parameters of a trading operation, defined by the Client, are fixed and transferred to the Company's trading server. The trading server receives a request from the Client's trading terminal and puts it in the queue for processing. At this moment, the amount of the collateral is fixed on the Client's trading account for the execution of the contract in accordance with the volume established by the Client.
4.11.4. At the moment of the queue for processing a client request, the trading server reads the main parameters of a trade operation, performs the operation itself at the price that currently exists on the Company's server with a record of this operation in the server database. Thus, processing of trade operations is carried out using the “Market execution” technology.
4.11.5. The request processing time depends on the quality of communication between the Client's trading terminal and the Company's trading server, as well as on the market situation with the asset. In normal market conditions, the processing time for a Client's request is usually 0 - 4 seconds. In abnormal market conditions, the processing time for client requests may be increased.
4.11.6. At the moment the contract expires, the price at which the contract was entered is compared with the closing price. Then the following algorithm works:
4.11.6. 1. For contracts of the "Call" type:
- if the closing price of this contract exceeds the price of its opening (in strict accordance, Popening
4.11.6. 2. For contracts of the "Put" type:
- if the closing price of this contract is less than the price of its opening (in strict accordance, Popen> Pclose), then such a contract is considered executed. The pre-fixed pledge amount is returned to the Client's trading account and a bonus is charged for the execution of this option contract in accordance with the value that was indicated in the Client's trading terminal at the moment he pressed the executive button "Put".
if the closing price of this contract more than the price of its opening (in strict accordance, Рopening
• the transaction was made at a non-market quote;
• in the case of using unauthorized bots and other trading software;
• in case of software failures on the trading server ;
• Synthetic transactions (locks) on option contracts may be invalidated if obvious signs of abuse are detected.
5. Quotes and information
5.1. When making transactions, the price offered in the Company's trading platform is used. Trading conditions for instruments are specified in the contract specifications. All issues related to determining the current level of prices in the market are in the sole competence of the Company, their values are the same for all Clients of the Company.
5.2. In the event of an unplanned interruption in the server's quotes flow caused by a hardware or software failure, the Company has the right to synchronize the quotes base on the server serving Clients with other sources. Such sources can be, in order of priority:
A. quotation base of the liquidity provider;
B. base of quotes of the news agency.
5.3. In the event of a failure in the calculation of profit by type of contract / instrument as a result of incorrect operation of the software and / or hardware of the trading platform, the Company has the right to:
A. delete the position opened as a result of an error;
B. adjust the erroneously executed position according to the current values.
5.4. The method of adjusting or changing the size, price and / or number of trading operations (and / or the level or size of any order) is determined by the Company and is final and binding on the Client. The Company undertakes to inform the Client about any adjustment or similar change, as soon as possible.
6. The relationship of the parties
6.1. The client does not have the right to request from the representatives of the Company any trading recommendations or other information motivating to perform trading operations. The Company undertakes not to give the Client any recommendations that directly motivate the Client to perform any trading operations. This provision does not apply to the issuance of general recommendations from the Company on the use of option trading strategies.
6.2. The Client guarantees the Company protection against the occurrence of any obligations, expenses, claims, damages, which may arise from the Company both directly and indirectly due to the inability of the Client to fulfill his obligations to third parties both in connection with his activities in the Company and outside it.
6.3. The company is not a provider of Internet access services and cannot assume responsibility for the performance of any obligations in the event of any failures in communication channels or other communications.
6.4. The client is obliged to provide the employees of the Company, upon their request, with copies of documents proving his identity and address of actual residence, as well as fulfill any other verification requirements determined by the Company.
6.5. The client undertakes not to disseminate in any media (Internet forums, blogs, newspapers, radio, television, including but not limited to the above) any information about the Company without prior agreement of the content with its official representative.
6.6. The Company reserves the right to change this Agreement in whole or in part, without prior notice to the Client. The current Agreement can be found on the official website of the Company, the revision date is indicated in the corresponding section.
6.7. The Company is not liable to the Client for any losses or losses incurred by him as a result of using the service provided by the Company; does not compensate for moral damage or lost profits, unless otherwise specified in the text of this Agreement or in other documents of the Company.
6.8. The main method of communication between the Company and the Client is by e-mail, which does not relieve the Company of the obligation to provide the Clients with the necessary support using other means and methods of communication set forth on its official website.
6.9. The Company provides the following procedure for settlements with Clients:
6.9.1. Replenishment of Clients' trading accounts with funds for work is carried out mainly in automatic mode, without the participation of the Company's personnel. In exceptional cases, in the event of a malfunction in the software of the intermediaries involved in the transfer of funds, the Company, at its discretion, may accrue funds to the clients' trading accounts in manual mode. When crediting funds to the Client's trading account in manual mode, the Client, when contacting the support service, must provide the date and time of the funds transfer, the name of the payment method, the transaction identification number, the sender's and recipient's wallet numbers.
6.9.2. Withdrawal of funds from the trading accounts of Clients is carried out only in manual mode after the Client has filled in the appropriate form in the Client's Cabinet. When withdrawing, the Client cannot withdraw the amount exceeding the available balance in the Client's trading account. When the Client places a request for withdrawal of funds, the amount withdrawn from the trading account is debited from the available funds on the Client's trading account. The direct transfer of funds is executed within a period not exceeding three working days. If necessary, the Company reserves the right to increase the processing time for a withdrawal request, up to 14 working days, after notifying the Client about it.
7. Risk Disclosure
7.1. The client assumes the risks of the following types:
7.1.1. General risks when investing, associated with the possible loss of invested funds as a result of completed trading operations. Such risks are not subject to state insurance and are not protected by any legislative acts.
7.1.2. Risks associated with the provision of online trading operations. The Client understands that his operations are secured using an electronic trading system and are not directly connected with any existing global trading platforms. All communications are carried out via communication channels.
7.1.3. Risks associated with the use of electronic payment systems.
7.2. The client realizes that he cannot invest funds in his trading account, the loss of which will significantly worsen the quality of his life or create problems for the Client in relations with third parties.
8. Personal data processing
8.1. When processing personal data of Clients, the Company is guided by the provisions generally accepted in world practice.
8.2. The Company ensures the safety of the Clients' personal data in the form in which they are entered by the Client into the registration forms on the Company's official website and within the Client's Profile. The Company stores this data on a secure server and does not provide it to anyone else, with the exception of cases of official appeal of representatives of competent state authorities.
8.3. The Client has the right to change personal data in his Client Profile, with the exception of the e-mail address (email). The data can be changed only with the personal contact of the Client to the support service of the Company after his identification.
8.4. When working with the Company's website, the Company uses "cookies" technology to ensure the collection of statistical information.
8.5. The company has an affiliate program, but does not provide partners with any personal data about attracted clients (referrals).
8.6. The Company's mobile application can send anonymous data about installed programs.
9. The procedure for considering claims and disputes
9.1. All disputes between the Company and the Client are resolved in a complaint procedure through negotiations and correspondence.
9.2. Clients' claims arising from the execution of the provisions of this Agreement are accepted by the Company for consideration within a period not exceeding seven working days from the date of the dispute, only in writing by e-mail info@vorenbroker.com.
9.3. The Company is obliged to consider the Client's claim in time, not exceeding 14 working days from the date of receipt of a written claim from the Client, and obligatorily notify the Client of the results of consideration of his claim by e-mail.
9.4. The Company does not compensate the Clients for any lost profits or moral damage, in case of a positive decision on the Client's claim, the Company calculates a compensation payment to the Client's account or cancels the result of the disputed transaction, bringing the balance of the Client's account to the form that would be on the Client's account in the event that the disputed operation would not have been carried out. In this case, the results of other trading operations of the Client on his trading account are not taken into account.
9.5. The compensation payment is credited to the Client's account within one working day after a positive decision on the Client's claim is made.
9.6. If a dispute arises that is not described in this Agreement, the Company, when making a final decision, is guided by the norms of generally accepted international practice and ideas about a fair settlement of a dispute.
10. Term and procedure for termination of this Agreement
10.1. This Agreement comes into force from the moment the Client first logs into his profile at https://vorenbroker.com/register/ (registration of the Client Profile) and is valid for an indefinite period.
10.2. Either Party may terminate this Agreement unilaterally:
10.2.1. The Agreement is considered terminated at the initiative of the Client within seven working days from the moment the Client Profile is closed in the Client's Cabinet, or the Company receives a written notification from the Client containing a statement of termination of the Agreement, provided that there are no unfulfilled obligations under this Agreement from the Client. The notice of termination of the Agreement must be sent by the Client to the e-mail address info@vorenbroker.com
10.2.2. The Company has the right to terminate the Agreement with the Client unilaterally without giving reasons. In this case, the Company undertakes to fulfill its financial obligations to the Client existing at the time of termination of the Agreement, provided that there are no unfulfilled obligations on the part of the Client under this Agreement.
10.2.3. The Company has the right to terminate the Agreement unilaterally without prior notice to the Client if the Client violates one or more of the terms of this Agreement.
10.3.This Agreement is considered terminated in relation to the Parties with the moment of full fulfillment by the Client and the Company of mutual obligations under the earlier performed non-trading operations and repayment of all debts of each of Of the Parties to the Agreement, provided that there are no unfulfilled obligations under this Agreement.