www.marktetsbettors.com is owned and operated by Markets Bettors LLC (“Company”), a Georgian Firm registered with the Registrar of Companies in Georgia under number 400270577, and operates under the Georgian law Company Law.
This Risk Disclosure Statement, is provided to you in accordance with applicable law and regulations, because you consider the use or you already use the services of the Company to enter into transactions provided by the Company.
This Statement cannot and does not disclose or explain all of the risks associated with the Company’s products and services, and/or other significant aspects associated with them. Its purpose is to explain, in general terms, the nature of the risks particular to the use of said products and services and to help you to take investment decisions on an informed basis.
You should NOT commence business relationship with us until you have read and understood the documents referred to above.
2. GENERAL DESCRIPTION OF COMPANY’S PRODUCTS & SERVICES
We offer bilateral contracts on financial instruments. You may choose either to enter into a contract created by another client/user or create your own through the Company’s platform. Selecting to create a contract you will be able to choose the underlying financial instrument, investment amount, expected expiration price and expiry time. Upon expiration the contract will be settled in favor or against you depending on the expiration price.
3. ASSOCIATED RISKS WITH COMPANY’S PRODUCTS & SERVICES
3.1. General Risks
The Company does not and cannot guarantee the initial capital of the Clients’ portfolio or its value at any time or any money invested in any financial instrument.
Transactions undertaken through the services of the Company may be of a speculative nature and may result to partial or full loss of the total of funds deposited with the Company.
Funds placed on a contract are bound to the contract and cannot be placed on for other contracts, withdrawn, or used in any other way until contract expiration. You may choose to cancel a contract at any time prior expiration of available time for trading. You will be refunded the full contact amount minus cancelation fee of 1€ as long as the contract has not been accepted by any other Client. Premature expiration of all contracts (account closing) will result in loss of your funds invested in those contracts.
In a fast-moving market, your contract may be liable to ‘gap through’, with the result that your contract expires in an unfavorable to you price. In the event that a ‘gap through’ occurs there can be a markedly different price in the underlying financial instrument of the contract.
Any funds you deposit with us or is credited to your account will be held in one or more segregated bank accounts denominated as “Client Funds”. The Client Funds bank accounts will be pooled accounts holding funds of other clients of ours and will not hold any of the Company’s own money. In the event that a bank at which the Client Funds bank account is held has become insolvent or has otherwise failed and is unable to return the full amount of funds held in the bank account, you may not receive all the funds to which you have an ownership interest.
In the event of insolvency of the Company, all your contracts will be cancelled.
You may be exposed to the risks arising under the rules, laws and regulations of jurisdictions other than the jurisdiction in which you are located and/or with which you are familiar. Changes in, or the introduction of new, rules, regulations and laws or the way in which they are applied or interpreted may impact your business relationship with us.
You are exposed to technology risk associated with using online platforms such as slow or no internet connection and hardware or software failures.
Your account is YOUR responsibility and you should be careful with your access codes. The Company or its associates will never ask for your log-in credentials.
3.2. Price Volatility
The products provided by the Company are derivative financial instruments, where their price is derived from the price of the underlying financial instruments in which the financial instruments refer to. The prices of derivative financial instruments and/or the underlying instruments may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in market conditions, none of which can be controlled by the Client or the Company. Under certain market conditions, it can be impossible to expire contracts at the same price as the declared quote and may result into unfavorable outcome.
The prices of derivative financial instruments are influenced by, amongst others, changes in supply and demand of the underlying financial instrument, geopolitical and national events, changes in laws and regulations, economic developments in the capital markets.
The Company provides its services and products via its online trading platform. Using the platform you are exposed to number of technological issues that may occur including but not limited to, internet connection failure, platform downtime and personal hardware or software malfunction.
By using your personal computer, tablet or any other device to connect to the platform you are exposed to the risk of device hardware of software failure. You acknowledge and bear the responsibility of proper device maintenance and you accept that if such failure occurs is not the responsibility of the Company.
Your internet connectivity is required to access the Company’s platform and you acknowledge the risk of reliance to your designated Internet service provider. In case internet connection failure the Company may not be able to process the related request made during the failure and that you will not be able to access or use the services offered via the platform. It is noted that if such failures are beyond the control of the Company.
The Company is responsible for the smooth operation of its platform and as such the platform will undergo maintenance from time to time at which point your access to the platform and its services may be limited or completely prohibited. It is noted that in such event you will be notified ahead of time. However the Company also relies on 3rd party service providers that may affect the platform continuous operation. The Company takes all reasonable steps to maintain the smooth operation of the platform.
3.4. Force Majeure
You and the Company are exposed to “Force Majeure” events (or otherwise known as “Act of God”), that can effect multiple aspects of our business relationship, for example prices of the underlying instruments or platform operations. Such events are considered to be beyond the reasonable control of either the Company or the Client and can be, but not limited to wars, earthquakes, tsunamis, floods, cataclysm or other large scale event.
You should be aware that your contracts in financial instruments may be or become subject to tax and/or any other duty, for example, because of changes in legislation or in your personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. You are responsible for any taxes and/or any other duties which may accrue in respect of your trades.
Before you commence business relationship with us, you should ensure that you are aware of our costs, fees and charges. If any charges are not expressed in money terms, but for example as a percentage, you may request and obtain a clear written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms.
For the avoidance of any doubt, the Company does not own or control any the underlying instruments which prices are offered via its platform.
You acknowledge that the Company’s Online Platform is independent of any exchanges and the Company is under no obligation to quote a particular price or follow the trading rules consistent with such exchanges. You further acknowledge that your contracts are linked to the prices quoted on the Company’s platform, during trading hours and not the prices quoted on any relevant exchanges. As such the Company does not and cannot guaranty that the price quoted can be better or worse than price quoted elsewhere.
The Risk Disclosure Statement is not intended to be contractually binding or impose or seek to impose any obligations on the Company which would not otherwise impose by the Client Agreement/Terms of Business/Terms & Conditions.
5. RISK DISCLOSURE STATEMENT UPDATES/REVIEW
The Company reserves the right to review and/or amend its Risk Disclosure Statement, at its sole discretion, whenever it deems fit or appropriate.