1.1 The terms and conditions (also referred to as “this agreement,” “the agreement,” and “terms”) is between CherryTrade (also referred to as “the site,” “this site,” “our site,” “us,” “we,” and “our”) and the client (also referred to as “you” or “your”).
1.2 You are solely responsible for the terms of this agreement and your decisions regarding the use of our site.
1.3 This agreement pertains to new and existing accounts.
1.4 The terms of this agreement applies to our site, our trading platform, electronic content, and software on our site, including links to other financial information such as exchange rates and/or financial news.
1.5 You must read the terms of this agreement in full, agree to the terms and conditions without limitation, and comply with all of the conditions prescribed in this agreement before using our site.
1.6 The terms of this agreement applies to new and existing conditions.
1.7 It is your responsibility to stay informed with the terms and conditions of this agreement, which are continuously updated and maintained on our site.
1.8 CherryTrade reserves the right to augment or change the terms and conditions at any time, which will become immediately effective upon the posting of new terms and conditions.
2. Risk Disclosure
2.1 Trading binary options can be a lucrative investment; but there is risk involved due to the volatility of the financial market. For this reason, our site and services are intended for people who are knowledgeable about binary options, understand the associated risks involved, and who have experience with taking risks in the financial market.
2.2 By signing this agreement, you understand that the financial market is highly speculative and may involve risk, including losing your initial investment.
2.3 By signing the CherryTrade Terms and Conditions document, you assert that you understand that our site and our services are intended for people who meet the following conditions a) people who are financially capable of making a deposit, b) are able to withstand financial risks and income loss, c) and for people who can still maintain their current lifestyle by losing funds.
2.4 By signing this document, you agree to use our site at your own risk, which may include but is not limited to a) loss of funds, b) legal ramifications in your jurisdiction, c) and/or personal life circumstances related to the use of our site.
2.5 Trading binary options has the potential to trigger habit forming patterns and addictions. We at CherryTrade are not responsible for gaming, gambling, or trading addictions. If you need assistance with this issue, we encourage you to visit http://www.gamblersanonymous.org/ for more information.
2.6 We at CherryTrade encourage you to consult with a financial advisor if you have any doubt as to whether or not you can withstand financial risks associated with the use of our site.
3.1 Our site and the use of our trading platform is only reserved for individuals or businesses who meet the terms of this contract, which are outlined below.
3.2 Minors (people under the age 18) are not permitted to use our service. In order to remove any doubt pertaining to the age of legal adult status, minor status automatically refers to anyone under the age of 18.
3.3 Our services are available only to people with sufficient financial knowledge as well as the capacity to manage funds and/or make decisions responsibly regarding finances.
3.4 Our site and services are only available to users who are legally permitted to trade online in their country, state, or jurisdiction. It is up to you to be familiar with the laws within your region.
3.5 Joint accounts are prohibited on our site in order to avoid all confusion, even in the case of marriage and domestic partnership. Each family member must create his or her own account, regardless of whether or not you share financial bank accounts.
3.6 If you discover that you are ineligible to trade through our site and use our services, you are required to discontinue the use of our site immediately—even if you have been using our site previously.
3.7 Our site reserves the right to terminate accounts or refuse services to anyone at our sole discretion. Reasons of refusal of service or terminations of accounts may include but are not limited to a) discovering that the use of our site is illegal in your country, region, or jurisdiction; b) CherryTrade experiences pecuniary disadvantages or other issues related to your use of our platform; c) or if we find that you are in breach of this contract.
3.8 We at CherryTrade disclaim any responsibility and/or liability related to your ineligibility in your jurisdiction.
4. Termination and Commencement
4.1 This agreement is effective immediately when you accept the terms and conditions of this agreement on our website (www.cherrytrade.com) by clicking on the box beside the phrase “accept the terms and conditions”.
4.2 By signing this agreement, you acknowledge that you were not coerced into signing these terms and you enter the contract at your own volition.
4.3 If you do not comply with the aforementioned: henceforth you will not have the right or permission to access our site or the permission to use our services.
4.4 If you wish to terminate this contract, please submit your wish to terminate your services with CherryTrade in writing to your account manager or senior analyst.
4.5 Please note that we at CherryTrade equally have the right to terminate your services and the terms of this agreement at anytime without advanced warning.
5. Legal Restrictions
5.1 You understand that you may have access to the site, but this does not mean that you are legally permitted to use our site in your jurisdiction, region, state, and/or country.
5.2 It is your responsibility to research and gain familiarity with the laws regarding internet trading in your jurisdiction, region, state, and/or country.
5.3 You acknowledge the laws and agree to take full responsibility in compliance with any law, regulation or guideline in your jurisdiction, region, state, and/or country.
5.4 Anti-Money Laundering (AML) Restrictions
5.4.1 CherryTrade strictly prohibits money laundering, which is defined as transforming illegal methods of financial gain into a legitimate form of making a profit by filtering the money through a secondary channel.
5.4.2 You attest that your deposit and/or withdrawal on our site is not connected with money laundering, drug trafficking, kidnapping, criminal, illegal, and/or felonious activity.
5.4.3 In order to prevent money laundering, all gains will only be issued to the account holder’s personal bank account or whose name appears on the credit card and funds will only be returned to the initial bank card used to make the initial deposit.
5.4.4 Funds will only be issued to the account holder once you submit all identity holder's verification requirements.
5.4.5 Deposits and withdrawals are strictly prohibited under false names or false pretenses.
5.4.6 Our site may require additional proof of identity at anytime at its sole discretion, which may include a notarized copy of a passport and other similar forms of legal documentation.
6. Limited Liability
6.1 You are solely liable and responsible for any transactions or interactions that you have pertaining to our site.
6.2 We at CherryTrade are not liable or responsible for losses, damages, auditing, and/or any other inconveniences that may be associated with using our site, including investment decisions based on the information on the site, whether correct or outdated.
6.3 We are not subject to liability as a result of publisher failure, intermediate agent and principal actions, dealers, clearing houses, subcontractors, and/or any other interruption involving a third party.
6.4 We at CherryTrade, are not responsible or liable for events of force majeure and reasons beyond our control, which include acts of nature; political, governmental, or social uprising that interrupts the use of our site; terrorism, industrial action, and/or sudden regulations that may interfere with the use of this site; and/or any other unforeseen circumstance.
6.5 CherryTrade constantly works to maintain our site with the utmost quality assurance; however we disclaim responsibility for all technical issues on our site. This includes, but is not limited to system errors, malfunctions, delays, deletion, interruption, omission, defects, line failure (e.g. telephone line, computer online systems, etc.), transmission problems, or other system operation issues that may arise. We also decline responsibility and liability for technical failure due to high volumes of internet traffic and other internet-based related issues.
6.6 Without derogating from the above disclaimer, we are not liable for theft, destruction, tampering, hacking, and/or unauthorized access or modification of our site or services, your account, and/or services.
6.7 We disclaim any responsibility for any content that users post on our site, our social media channels, or any affiliate site associated with CherryTrade. Likewise, we deny any responsibility for the conduct of users or affiliates connected withCherryTrade, whether online or offline, to the extent that is permitted and law.
6.8 CherryTrade directors, managers, officers, employees, service providers, agents, and/or affiliates deny any responsibility or liability for losses, damages, loss of goodwill, business failure, personal injury or lethality, expenses, and/or other inconveniences to you for any reason whatsoever, including but not limited to a breach of contract, misrepresentation, negligence, etc. This includes indirect, incidental, and/or punitive damages, fees, fines, and/or other inconveniences that arise due to the use or access of our site.
6.9 Our site executes services only. CherryTrade does not offer specific advice on particular transactions, therefore you are solely responsible for consequences related to your transactions, including loss of funds and taxes as a result of the execution of our services.
6.10 Our limited liability pertains to all information and its usefulness on this site.
6.11 All of the aforementioned limitations of liability are subject to the full extent of the applicable law and will not exceed the amount of money that you deposited or transferred into your account on our site.
7.1 CherryTrade is the sole operator and not an agent or trustee on your behalf.
7.2 If you choose to utilize a trustee or an agent on your behalf, you must notify CherryTrade with a verbal and written consent. Additionally, you must provide a signed agreement from your trustee, agent, and/or representative.
8.1 By signing the agreement and using our site, you indemnify our site and associated affiliates, directors, managers, employees, etc. as deemed necessary.
8.2 You are solely responsible for any fees, costs, expenses, losses, liabilities, taxes, levies,or any other expense that CherryTrade may acquire as a result of your use of our site.
8.3 You will institute amnesty for fees and expenses and withhold liabilities regarding damages, losses, and expenses that may accrue as a result of using our site and services.
9. Know Your Client Policy (KYC)
9.1 Know Your Client Policy (KYC) is a global endeavor in financial institutions in order to ensure integrity and crime prevention such as fraud, theft, money laundering, terrorism, and/or site alteration.
9.2 We at CherryTrade must be able to verify your identity within 7 business days in order for you to maintain an active account. Your account will be placed on hold if you are not verified within 7 business days from your initial deposit.
9.3 If our risk and fraud department discovers that your information is incorrect, expired, or fraudulent; your account will be placed on hold or terminated.
10. Verification Documents
10.1 After you make your initial deposit, an automated welcome letter will reach your e-mail account with instructions on how to submit your verification of identity, a password for your account, and other pertinent details in order to limit risk and fraud.
10.2 Our risk and fraud department must approve your documentation and trading eligibility. Once approved, you will receive a phone call and/or an e-mail regarding your approval from a member of CherryTrade.
10.3 Our site may, at its sole discretion, request additional documentation aside from the online version of the terms and conditions that may be unique to your situation or jurisdiction.
10.4 You must submit all required documentation before trading.
11. Finance and Banking
11.1 General Financial Procedures
11.1.1 CherryTrade’s risk and fraud department is committed towards consumer protection; therefore we diligently verify documentation for deposits and withdrawals prior to issuing funds or permitting trades beyond the initial deposit under 250 in any currency.
11.1.2 Accounts permit up to 10 transactions on an individual bank card up to $10,000.00 max.
11.1.3 Deposits and Withdrawals can be made in a variety of currencies including USD, GBP, AUD, CAD, EUR, BRL.
11.2.1 You must verify your account in full in order to make a withdrawal.
11.2.2 Withdrawals require a minimum withdrawal amount and are subject to a transaction fee as listed below:
Credit Cards: 100 USD/GBP/AUD/CAD/EUR/BRL withdrawal minimum.
Wire Transfers: 200 withdrawal minimum in USD/GBP/AUD/CAD/EUR/BRL.
Alternative methods: 100 USD/GBP/AUD/CAD/EUR/BRL withdrawal minimum.
11.2.3 Deposits made within the last 6 months can only be withdrawn via the initial method on the initial card used to make the deposits. Any withdrawals made on accounts that deposited funds over a 6-month period will be issued via a wire transfer.
11.2.4 All profits will be dispersed via a wire transfer.
11.2.5 All transactions will reflect www.cherrytrade.com on credit card statements.
11.2.6 Accounts that deposited over 250 USD/GBP/AUD/CAD/EUR/BRL and have not generated more than 100 USD/GBP/AUD/CAD/EUR/BRL in turnover will be subject to a 10% levy on the account balance in order to cover processing costs.
11.2.7 Account holders will be subject to a 42.00 USD/GBP/AUD/CAD/EUR/BRL withdrawal fee.
11.2.8 Neteller withdrawals will incur a 42.00 USD/GBP/AUD/CAD/EUR/BRL withdrawal fee and an additional 3.9% service fee from Neteller.
11.2.9 We do not have a cancellation policy. In order to receive a refund/withdrawal, your account will need to be fully verified.
11.3 Fees and Additional Costs
11.3.1 Active accounts will be assessed with a 3.35 monthly account maintenance fee.
11.3.2 All fees charged will be in your accounts selected currency. The fees will be deducted from the account on the first Monday of each month or shortly thereafter.
11.3.3 Dormant accounts will be subject to an additional fee after three months of no trade activity.
A 15.00 monthly fee will be charged. If the account is still inactive after 6-months, the account will be subject to a 50.00 monthly fee.
11.3.4 Taxes and fees in your jurisdiction may be issued for the use of our services. You are solely responsible for knowing the taxation laws regarding binary options trading in your region and paying the mandated amount, as deemed necessary.
11.3.5 It is your responsibility to inquire and/or learn of any possible and potential taxes and/or costs that may be incurred by use of our site by any legal or governmental bodies in your country and/or region that would pertain to you.
12. Intellectual Property
12. 1 The CherryTrade copyright is protected by the appropriate law regarding intellectual property.
12.2 The content associated with our site is copyrighted for our use and not subject to resale without a prior, written consent. This includes, but is not limited to, our logo, written content, trademark, company name, etc.
12.3 You will have access to our site under the provision that you will not resell, copy our site, or utilize it for profit beyond personal use. This includes copying, uploading, and/or posting written documents or imagery from our site, e-mails, promotional materials, banners, or any other material associated with CherryTrade and our site.
12.4 You are solely liable for any violations of this agreement, including fees and fines for copying, reprinting, distributing, and/or selling our print and web-based materials without prior written consent.
12.5 If you wish to copy our material for personal use and/or for sale, you are required to send a written request with your reasoning and we will consider your interest on an individual basis.
13. Abuse of Trading Features
13.1 Our site is entitled to cancel your position if we suspect that you have abused the trading features.
13.2 The use of the extend feature will be considered system abuse if the client’s extended positions exceed 10x (ten times or a value worth 10% of) the number of executed options in a trading period. Our site is not obligated to inform you (the client) of this feature suspension before, during, or after said removal of this feature. Our site reserves the right to cancel a position that is the direct or indirect result of extend feature abuse or to suspend your (the client) account in a case when abuse is detected or suspected. Our site is entitled to cancel all your (the client) profits we suspect or find that the extend feature is being or has been abused – regardless of whether or not this abuse has or has not directly or indirectly affected any and all executed, open, closed, or future trades on our site.
14. Communication Procedures
14.1 We at CherryTrade provide convenient communication through email, a website contact us form, live chat, Skype, and local and toll-free telephone numbers.
14.2 We at CherryTrade are committed to a healthier environment in our business practices; therefore, we have joined thousands of other organizations in a paper-free initiative.
14.3 The client is required to provide CherryTrade with a written notice via e-mail in order to update contact details, including phone number, address, and e-mail.
15. Access, Requirements, and Registration Information
15.1 You are required to provide accurate and complete identifying information such as your phone number, state or country identification number, address, e-mail address, and other pertinent information for identification purposes.
15.2 You agree to use our site for its intended purpose and not for deviant reasons such as harassment, verbal aggression and/or slander, prejudices, obscenity, and/or other intrusive manner.
15.3 You are solely responsible for keeping your password and username confidential.
15.4 You are responsible for the security of your internet safety, including your login information, password, and site details.
15.5 You are solely responsible for the improper or illegal use of your account, including any resulting loss due to the misuse or abuse of your account on our site, whether fraudulent or not. This includes family members or entourages who may have accessed your account.
16. Financial Market Data and Third Party Information
16.1 Our site offers information regarding the financial market, including news, market analyses, graphs, statistics, articles, reports, market reviews, and other pertinent data as deemed useful.
16.2 Our site may offer links and information from other websites, including but not limited to the aforementioned financial information. CherryTrade neither endorses these third party sources nor are we endorsed, sponsored, or approved by them. This information is provided solely for your convenience and it is up to you to research the potential risks involved with using the third party information or making purchases through these sites.
16.3 Our site provides the aforementioned information regarding the financial market for your convenience and for our indemnity. We are not liable for the information retrieved from third parties including its accuracy, usefulness, or current relevance.
16.4 We provide the financial information as a service only, thus the aforementioned data should not be taken as investment advice.
17. Copyright and Limited License
17.1 You will have a limited, non-transferable license to access and use our site, which is subject to the terms and conditions of this agreement.
17.2 You will lose your limited license to access our site for the following reasons a) if you fail to comply with the terms of this agreement, b) do not update our site with current e-mail or contact information, c) or if our site determines that you committed a crime on our site or trading platform.
17.3 The termination of your access to our site and your limited license may be effective immediately and without warning for any of the aforementioned reasons at our sole discretion.
18. Disputes and Complaints
18.1 If you wish to express dissatisfaction, issue an official complaint, or to negotiate a dispute; please send an e-mail to [email protected] CherryTrade will send an initial written response within 2-3 business days and will follow-up via e-mail and/or telephone.
19. Automated and Semi-Automated Trading Mechanisms
19.1 We at CherryTrade strictly prohibit the use of automatic or semi-automatic trading mechanisms such as external bots and automated traders developed in order to assist you with your trade.
19.2 If you integrate an automated or semi-automated device on the CherryTrade browser or platform in lieu of your personal interaction or utilize a backdoor API; we will consider your activity system abuse and we will nullify your position or cancel your account with CherryTrade.