Terms & Conditions

Terms of Service

By registering with CloseOption.com, you agree to abide by these Terms and Conditions. For the purposes of these Terms and Conditions, “The Company”, “Us”, “Our” and “We” all refer to CloseOption and “You”, “He”, “She”, ”His”, “Her”, “Your” and “the Client” refer to you, the client, visitor, trader.

1. CloseOption, a limited liability company, was registered in Georgia. Based on its license, dated 10.18.2017, the company’s activities in the field of “Forex” or “Options Trading” are permitted. It should also be noted that all the laws and regulations on CloseOption are consistent with the laws of Georgia (it is probable that the laws are different in your country. In this case, you must comply with the laws of your country, and in case of any conflict, you must not engage in financial activities on CloseOption; otherwise, it is on your responsibility).

2. You must be at least 18 years of age and are required to be of legal age of your country of residence. In case of violation, your money will be blocked or delivered to your legal guardian, until the legal age.

3. The Company reserves the right to add, change, modify or remove portions of these terms and conditions at any time without prior notice (i.e. disclaimer, privacy policy, contest terms, refund policy, etc.). Please check this page frequently to ensure you are aware of any changes.

4. The Company reserves the right to refuse membership (or cancel membership) to any applicant.

5. You must comply with the laws of your country of residence. It shall be your responsibility to ensure Options Trading is permitted in your country. Otherwise, you are responsible for any consequences arising out of non-compliance with the laws.

6. As a customer, and in accordance with the rules, you must keep your account information secure, and if, for any reason, you have resulted in unauthorized use of your account, you are responsible for any loss or damage caused by a third party.

7. If someone else uses your identity, it is considered as Identity theft and identity fraud, and we reserve the right to block the account.

8. You agree not to submit false information such as name, address, and/or telephone number. It is also required to inform us of all changes made to your information such as email address, telephone number, residence address, etc.

9. The price you see on your mobile or computer includes optical illusion, Internet or network weaknesses or the like. Transactions are conducted in a separate server and the probability of a mistake is zero. However, if you feel that the transaction is mistaken, contact us.

10. It is usual that the prices offered to the Client for currency pairs may be slightly different from the prices provided by other brokers. Hence, the Company is unable to guarantee that the prices are the same. However, if the Client feels that a transaction was closed incorrectly (in terms of price data or any issues related to the price), they can inform the support team, along with providing details. The Company will notify the Client of the outcome within one to three working days.

11. According to Anti-Money Laundering (AML) laws, traders should withdraw via the same method they deposit. In case of making deposits through different methods, it is possible to withdraw via the same methods to a specified ceiling. In some special cases, at the financial team’s discretion, there is a possibility of using another method other than the primary option. To this end, you must submit a ticket in advance!

12. In the event of a payment to a company which has filed for bankruptcy or has gone out of business for any reason, there is no guarantee for returning your fund.

13. Using automated trading software (robots), under any circumstances, is prohibited and illegal profits made by robots will be eliminated. It is better for you to ask the Company about the legality of software before using.

14. In case of death, the account is blocked until a legal representative or heir refers to the Company and then the balance will be transferred to a bank account under his/her name.

15. Clients shall have no right to sue the Company, its members, and staff. However, they have the right to report any probable problems and the Company will take the necessary steps to resolve them.

16. Clients who need to open a Business account, are required to upload the documents of all company shareholders and it is necessary for all members to declare their agreement for opening this account.

17. If documents or any other items provided by a client are suspected to be fake, CloseOption reserve the right to cancel his/her membership.

18. Clients shall have no right to sell or transfer their accounts to others.

19. Any violation of the terms can result in the closure of your account and all your open positions.

20. In case of other problems that have not been mentioned here, the Company checks and attempts to resolve them, at its discretion, and clients should respect the decision.

21. CloseOption reserves all its rights with respect to copyright and trademark ownership of all material on this website and will enforce such rights to the maximum extent permitted by applicable law.

22. Clients are responsible for keeping their account information secure and must not try logging into their accounts on another computer. Be sure to change your password from a computer you do not typically use.

23. The processing time for withdrawals may vary based on the following scenarios:
    1. Over 95% of withdrawals are processed and fully paid within 1 to 7 business hours.
    2. Bank withdrawals through CloseOption typically undergo processing within 1 to 3 business days. Following our payment, it could take anywhere from 3 to 10 business days for the funds to appear in the user's bank account.
    3. Withdrawals with amounts exceeding $2,000 may be processed and completed in multiple parts. In this case, withdrawals might take longer than 3 business days.
    4. Users who haven't made any deposits and have gained from gifts or contests might experience multi-part processing and payout for their withdrawals. In this scenario, withdrawals might take longer than 3 days to complete.

24. According to Anti-Money Laundering (AML) laws, suspicious deposits will be examined carefully. Additionally, clients are required to withdraw via the method through which they deposit.

25. For security reasons, clients might be required to send valid and up-to-date identity documents.

26. The Client will register only one account with the Company. Otherwise, the Company shall be entitled to ban all Client’s accounts, open positions, and retain all profits earned.

27. In case of causing reputational, financial or physical damage to the Company, the client must pay any expenses incurred including lawyer fees, website recovery costs, costs related to the software or hardware damages, etc.

28. The Client agrees and accepts that in circumstances where they remain inactive for 90 consecutive days, his/her account will be tagged as archived. After this period, if the Client wishes to restore the account, they should first contact the support team and, as the next step, they should open a new account and verify it.

29. By joining CloseOption and submitting your documents, you declare that all documents are genuine. In case of opening an account with someone else’s documents (identity theft), your account will get banned.

30. The Client hereby warrants and represents to the Company that he/she is not engaged in abusive behaviors or illegal activities. If we believe, at our sole and absolute discretion, that he/she has breached any provision of this Agreement, the Company has the right to terminate the Agreement with immediate effect and ban the Client’s account.

31. The payout is not fixed and at some hours due to the market volatility or placing many orders in a short time, it may decrease or increase. Traders should be cautious and check it before taking trades. The minimum amount during these hours is 30%!.

32. Traders who deposit via PayPal (or cards such as Visa Card, MasterCard, American Express, etc.) are not allowed to refund their lost money, and if they are not satisfied with our services in some ways, they should inform us and try to resolve the issue. In case of a PayPal refund claim, we refer the case to our lawyer to resolve the issue preferably peacefully. Furthermore, CloseOption does not accept PayPal e-check deposits at all! Therefore, customers must not use the e-check option on PayPal. Otherwise, their accounts will get suspended immediately and all orders, including profits and losses, will get rejected and voided.

33. After a normal follow-up by the customer service department, if it is certain that the claim has been filed by mistake or that the client unknowingly or unwillingly has filed the refund claim for any reason, and then he/she closes the case, the company will ignore his/her mistake. It is strongly recommended that in case of any dissatisfaction, first of all, try to resolve the problem by writing your issue to the Company's email address. You should contact us and state your issue. We assure you that this is in your favor. However, if the case proves to be filed deliberately (in any form and title) or the trader refuses to close it, the case will be referred to the company's lawyer and at his discretion, a complaint will be filed in Georgia's courts.

34. In case of a chargeback from all conventional cards, the customer must pay any expenses incurred (chargeback amount plus the losses incurred) and by accepting this agreement and membership on CloseOption, he/she agrees to pay the amount without dispute. It is also necessary to mention that the customer will also be charged with all the costs associated with the attorney, transportation, etc.

35. Clients must respect all our terms and conditions; In case of intimidation or insulting, their accounts will get banned. Additionally, in case of causing financial losses, the equivale amount will be deducted from their accounts and the remaining balance will be transferred after 180 days!

36. Due to some security reasons, if the Company recognizes that a customer's activities are suspicious (e.g., using Arbitrage strategy), his/her money will be held for 180 days (there is not a must to provide the customer with an explanation). As soon as the review process is done, and nothing suspicious is found, the money can be withdrawn. Otherwise, it will be blocked again.

37. In case of suspicious (trading, financial, etc.) activities, CloseOption reserves the right to ban the member's account at the discretion of the financial and technical managers, and after a complete review of the customer's activities and removal of the suspicious transactions, his/her balance will be transferred to a bank account under his/her name after three or six months.

38. When you hit the Call/Put button, there is a delay of 1000 to 2000 ms until the order is placed. This delay is to compare the prices, both from the user side and the provider bank of the price. Currently, shortening this time is not possible and customers must accept it. Regarding this matter, there is a probability of opening orders with a slight price change that could be either favorable or unfavorable.

39. The Company offers a variety of rewards, including but not limited to the Welcome Gift and No Deposit Bonus, ranging from $3 to $10. These Rewards take center stage in our program and are subject to availability. While the Company strives to provide Rewards to eligible Clients, it reserves the right to suspend, modify, or withhold payouts under any circumstances at its sole discretion.

40. Occasional gifts are for specific countries and traders, added under specific conditions. Granting a gift to a person does not create any right for another person to claim a gift. Those traders who try to abuse occasional gifts, their accounts will get banned.

41. In case of an account termination request, you must withdraw all your balance. If the balance is below $1, the trader can temporarily close his/her account without mentioning the reason, and the Company processes the request for the customer. Balances below $1 will be given to UNICEF ​​or another charity, on your behalf. Keep in mind that all applicable laws of the Company are in effect for up to 180 days after the account closure and the account will be completely closed after 180 days from the closing request, in the absence of a financial complaint from the customer. If you have a complaint and have debt, your account will remain open for review. In case of dispute, we are constantly striving to respect and satisfy our customers; Therefore, contact us and send your complaint via email.

42. Placing an order does not necessarily mean that the trade has been executed and accepted. In cases when a customer encounters an error in a deal, or the connection line between the trader and the broker is interrupted, or finally the provider does not accept the trade, the trade will be canceled and as a result, will be voided. After 30 days from the closing time, your trades are considered as “Accepted”.

43. When a customer places several orders using some irruptive and unconventional methods, his/her trades are not acceptable for any brokers. We are no exception! In such cases, his/her initial money will be refunded, and all his/her orders will be invalidated. Additionally, an amount other than the unacceptable trading profits will be credited to his/her account, and his/her account will permanently get blocked. It is also true about those customers who are scalpers and try to place big orders or many deals in a short time.

44. The extra cash amount offered on some deposit methods is to encourage traders to trade. If a customer intends to deposit and make a quick withdrawal, this gift will be removed from his/her balance. In other words, this gift is not offered to allow customers to abuse our system (to deposit over and over and withdraw immediately).

45. Customers who deposit bitcoin are allowed to withdraw via any other method they want, and the financial team usually accepts to process their withdrawal requests. However, when customers who deposit via PayPal try to withdraw to Bitcoin, they have to wait up to 180 days from the date they made the deposit. To put it simply, you can deposit bitcoin and easily withdraw via PayPal, and not vice versa.

46. We work with different providers, and our clients' risk is reported to them. Regarding the possibility of covering orders, the payout differs, and its amount depends on the intermediary bank and the providers' decision. Generally, this change happens for those traders who trade excessively in short time frames (30-second to five-minute trades). Thus, please be advised that payout adjustments may occur if an account undergoes significant growth within a brief timeframe. Under these circumstances, it is essential to note that CloseOption is not obliged to sustain the highest payout rate and keep it constant. Unfortunately, we do not have full control over the payout amount, and you should check the payout before taking trades.

47. The maximum time to follow up on the Wire transfer, MasterCard, and Paypal withdrawals is 90 days. It is up to 30 days for other methods such as Bitcoin and Web Money. After the mentioned time passed, the user is responsible for any probable problem (Including not receiving the amount). CloseOption does not accept any responsibilities for any likely issue.

48. All services offered on closeoption.com are provided outside the United States and all customers must acknowledge and confirm that the services are provided to them in other locations (outside the US).

49. Those clients who have closed their accounts before, and now they are willing to reopen their accounts, must act according to the following terms:
    1. CloseOption reserves the right to refuse to reopen a closed account in some cases.
    2. Reactivating a closed account involves a $10 fee which should be paid by the client.
    3. The client should attempt to verify his/her account by reuploading the required documents.
    4. Customers who have closed their account once and subsequently open a new account for the second time or reactivate their closed account by submitting a request will be barred from closing their account for a second time. If they attempt to do so, they will no longer have the right to open a new account or reactivate their existing one.

50. In case of failed deposits, particularly Bitcoin deposits, if any amount has been deducted, the Client should inform the support team within the next three days. After this specified timeframe, the Company bears no responsibility for the suspended deposits.

51. During some hours, the Bitcoin network may experience a rise in traffic. Hence, the Company cannot be responsible for delays in confirming transactions. In sending withdrawal funds, CloseOption is not obliged to send transactions with high fees. The Company always attempts to speed up transactions by choosing the best way and fee for transfers (in case of high traffic on the Bitcoin network and high transaction fees).

52. The Company is not responsible for volatility of Bitcoin or other altcoins and in manual/automatic bitcoin deposits, only the amount received from the Client is counted.

53. On an ongoing basis during the business relationship, the Company may ask the Client to perform Skype verification. This verification may be required for withdrawals. In case the Client fails to complete the process within the specified timeframe, the Company shall be entitled to terminate this Agreement immediately and ban the account.

54. Under no circumstances will the Client register, directly or indirectly, any new accounts with the Company if his/her registered account has been suspended or banned by the Company.

55. The Company will not be held liable for any losses incurred to the Client in relation to the unavailability or withdrawal of any content, material, or other information from CloseOption.com.

56. The Client accepts that he/she is solely responsible for determining what, if any, taxes apply as well as for collecting, reporting and remitting any applicable taxes to a relevant tax authority.

57. If we discover fraud associated with the use of software or errors and system failures for false trading results, the Company shall be entitled to block immediately the Client’s trading account.

58. In case of malicious transactions and accounts intending to abuse our services, CloseOption reserves the right to bar such activities and may permanently reduce their payout to 10%.

59. For Clients with multiple withdrawals or those making withdrawal requests without any deposit history, CloseOption reserves the right to apply a transaction fee and deduct it from the requested amounts. Please note that this amount is the processing fee blockchain networks or other processors charge, and different methods have different transaction fee structures.

60. CloseOption reserves the right to charge a withdrawal fee for Clients who deposit large amounts through a payment option and, after taking a few trades, withdraw their money via a different method. Therefore, if a Client makes a Bitcoin deposit and then, after several days, makes a withdrawal request through the Tether option, their action can lead to charging a withdrawal fee at the Company's decision.