Click here for a printable version

Terms & Conditions for Spread Betting (supplemental Terms and Conditions for Binaries below)

Capital Spreads is a brand name of London Capital Group Ltd November 2007

Warning

Wins and losses when spread betting can be many times your original stake. Depending on your bet, the market you are betting on and the general market condition prevailing at that time your losses may be unlimited. You should only bet if you are prepared to accept this degree of risk and if spread betting matches your investment objectives. The nature of spread betting makes it a high-risk form of gambling. We strongly recommend that you read the risk warning notice that accompanies these terms and conditions and may be found on our website. Likewise we strongly recommend that if you are unable to understand any part of either these Terms and Conditions or the Risk Warning Notice you should contact London Capital Group with your questions before agreeing to them.

London Capital Group Ltd is a financial/spread betting bookmaker and is authorised and regulated by the Financial Services Authority (‘FSA’). The terms and conditions agreement does not affect London Capital Group’s obligations to you under the Financial and Markets Act 2000 or the rules of the FSA which will take precedence in the event of any conflict between them and these Terms and Conditions.

The following Terms and Conditions form the agreement, which governs your contract with London Capital Group Ltd. These terms and conditions may be altered from time to time by London Capital Group by notice to you; such notice may take the form of an electronic message. If, subsequent to receiving this electronic message, you make any new opening trades, London Capital Group take this as acceptance of the new terms and conditions. If you do not accept any proposed change in these terms and conditions, you must inform London Capital Group Ltd who will reserve the right to close your account. In this eventuality London Capital Group will give you 7 (seven) days notice.

By completing and signing the application form or by ticking the relevant, ‘I agree’, box online you are stating that that you agree to said Terms and Conditions.

1.0  Introduction
1.1 These Terms are made between the Client (you) and London Capital Group Ltd and apply to all bets transacted by you over the telephone with an authorised dealer at London Capital Group Ltd or via the internet over the Online Trading Platform of London Capital Group Ltd (including any bets placed by an Authorised Third Party or any person giving the Client's name, account number and/or Password).

1.2 We do not provide investment advice and none of the information provided on our website or in any promotional literature should be construed as investment advice. Any comments or statements made by employees of London Capital Group Ltd are not, in any way, a recommendation to enter into, or close out, a bet.

2.0  Definitions
2.1 In these terms and conditions (in addition to expressions defined elsewhere in these Terms) the following words and expressions shall have the following meanings: -

"Account Balance" is the cash balance on your account (your account balance does not include profits or losses on any open bets)

“Margin” means the Margin Requirement for your Open Bets

"Application Form" the application form supplied by London Capital Group Ltd in relation to these terms and conditions

"Authorised Third Party" a person authorised by you to initiate trades or close existing trades using your account, as referred to in paragraph 4.10

“Available Margin” see “Trading Resources”

"Bet", "betting", "dealing", "trading" or other similar words express a reference to a Client placing a bet or leaving an order of any description either over the telephone or online.
“Buy”, ”Take”, “Up Bet”, “Go Long” is defined as making an Up Bet in the market quoted by London Capital Group Ltd.
“Market Hours” “Quoting Hours”: The times at which London Capital Group Ltd will offer a quote on a given contract (see Product Information pages).
“CGSL” - Computer generated stop-loss. The stop-loss level automatically created by the computer against all opening bets made by you.

"Client", "you", “customer” and "your" a person or company who has opened an account with London Capital Group Ltd and has agreed to be bound by these Terms and Conditions. 

“Electronic Confirmation Message” an email or other form of electronic message sent by London Capital Group Ltd to confirm receipt and acceptance by London Capital Group Ltd of your spread bet contract

“Expiry Date” means the expiry date and time of a spread bet contract

"Force Majeure " any event preventing London Capital Group Ltd from performing any or all of its obligations hereunder which arises from or is attributable to acts events, accidents or errors beyond the reasonable control of London Capital Group Ltd including without limitation: -

(a) markets that, in London Capital Group Ltd’s reasonable assessment, are in an emergency or exceptional state;
(b) any interruption of power supply or electronic communication or information system or any event which prevents London Capital Group Ltd from supplying such information in one or more of the markets in which we would ordinarily quote;
(c) the suspension or closure of any market upon which we base our quotes, or the imposition of limits or special or unusual terms on the trading in any such market;
(d) the occurrence of any speculative movements which in our reasonable assessment distort the level of prices in any market quoted by us.
(e) compliance with any law or government order rule regulation or direction;
(f) any abnormal loss of liquidity in any of the markets quoted or the reasonable anticipation of such occurring.

" 2000 Act" The Financial Services and Markets Act 2000

"FSA" the Financial Services Authority

“IMR” refers to Initial Margin Requirement. This number represents the minimum available funds required to place an opening bet of £1/$1/€1 in each market. i.e. if the IMR is 15 you must have at least £15 in your account to make a £1 bet.

“Limit” Order  refers to an instruction to take a profit on an open bet if our quote reaches the level requested or as an ‘if done’ instruction on a ‘new order’.

"London Capital Group " “London Capital Group Ltd” “LCG” “LCG Ltd” "we" "us" "our" the spread betting division of London Capital Group Limited.

"London Capital Group Ltd Quote"/"Our Quote" as defined in paragraph 10.9.
The understanding of the definition of ‘Our Quote’ is very important for the correct operation of your account. If you do not understand any part of its description we strongly recommend that you contact London Capital Group Ltd for an explanation
“London Capital Group’s normal hours of trading”: Monday to Friday 07:00 to 21:15 London Time
"LSE" the London Stock Exchange

"Margin" a term that describes the cash required/being used on your account to either open a new bet or run your existing bets. See clause 9

"Margin Call" a request for payment of Margin as referred to in clause 9.

"Marked to Market" the value of a Client's open bets calculated at London Capital Group Ltd current quotes at that moment or at the close of business on the previous business day.

“Market” An Indices/share/forex/commodity or any other product that may be quoted by London Capital Group Ltd from time to time

"Market Trading Hours" the hours during which London Capital Group Ltd will quote the various markets.

"Minimum (‘Min’) IMR" determines the minimum amount of money required to open a new bet when multiplied by the stake.

“New Order” an instruction to open a new bet at a possible future ‘Quote’

“OTP” Online Trading Platform, London Capital Group Ltd website and interactive dealing system as managed under the URL www.capitalspreads.com or any other online division of London Capital Group Ltd.

"Password" a password chosen by you enabling you to access the London Capital Group Ltd online trading platform (OTP)

"Pricing Error"  is defined as a misquote by London Capital Group Ltd where the Price quoted materially and clearly deviates from the prevailing market price (or the forward calculated market price) at the time that it was quoted. A Pricing Error is defined, but not exclusively, as a Bid Price or Offer Price which varies above or below the prevailing mid-market price of the underlying Product by more than the size of the quoted bid/offer spread of that Product. For example a bid/offer quote by London Capital Group in the FTSE Quarterly contract of 4804 – 4808 when the correct quote should have been 4797 - 4801 may be considered to be a Pricing Error as the London Capital Group Bid of 4804 is more than the quoted spread of the product (in this case 4) away from the mid point (4799) of the correct quote.

“Quote”, “Our Quote” The price quoted by London Capital Group Ltd via its online trading platform or over the telephone. This quote may differ from the ‘underlying market’ due to interest rates, expected dividends, stock splits or scrip issues.

“Trading Resources”, “Available Margin” the amount of money available on your account that may be apportioned to new bets or to moving current stop levels.  

"Terms" the terms and conditions set out herein, the Product Information Sheets and any amendments
“Underlying Markets”: the 'underlying markets' are the prices received by London Capital Group from the various financial exchanges around the world these prices form the basis of ‘our quote’.
 “Volatility”: A term to describe, and quantify, the relative movement of a given market in the recent past. A market that moves a great deal is said to be of high volatility and one that is quiet is said to have low volatility.

3.0 Your Account
3.1 You must open an account before London Capital Group Ltd will accept any of your bets.

3.2 London Capital Group Ltd requires that you must fill out and send to us an application form either electronically online or on the printable form available on www.capitalspreads.com or the one available with these terms and conditions. All mandatory sections must be filled out and any information supplied must be true and correct to the best of your knowledge. Any incorrect or unclear information supplied will result in either an outright rejection of the application or at the very least a delay in the opening of the customer account. There is no other allowable form of application.

3.3 In signing, or electronically remitting to us, the application form you are authorising London Capital Group Ltd to make such searches as it sees fit to certify that the information that you have supplied is full and correct. Such searches will include, but may not be restricted to, information from the electoral register and any credit agencies approached by London Capital Group Ltd.

3.4 London Capital Group Ltd will make periodic checks of your details to verify that the details supplied by you have not changed.

3.5 You must immediately inform London Capital Group Ltd in writing as to any material change in your financial circumstances or any change to the information given on your Application Form (including change of employment, address, contact details and e-mail). In London Capital Group Ltd’s absolute discretion it may accept such notification over the telephone or by electronic messaging system. Any losses that may be incurred by misdirection of contract details due to incorrect or out of date e-mail addresses are entirely your responsibility

3.6 London Capital Group is not obliged to open an account for any customer and may refuse any application for any reason. London Capital Group is under no obligation to inform a client as to the reason for any refusal of an application form.

3.7 London Capital Group reserves the right to close or suspend your account at any time. If you have any open bets you will be given 5 working days to close your open bets. Your account will be suspended and all open bets must be closed over the telephone. Any bets remaining at the close of business on the 5th working day will be closed at London Capital Group’s closing price spread. If you do not have any open bets your account will be suspended immediately

3.8 You specifically and unconditionally agree that London Capital Group Ltd has the right to close or suspend your account with immediate effect in any of the following events
 (a) you are in breach of these Terms and Conditions
(b) you have made any material misrepresentation to London Capital Group Ltd
(c) you fail to provide information requested in relation to any verification undertaken by London Capital Group Ltd
(d) you act in a rude or abusive manner to employees of London Capital Group Ltd
(e) London Capital Group at their sole discretion decide to terminate your account

3.9 London Capital Group Ltd shall also be entitled to disclose information concerning you or your account without prior reference to you to any competent authority with jurisdiction over London Capital Group Ltd business or to any other person London Capital Group Ltd reasonably believes to be seeking a reference or credit reference in good faith. Specifically London Capital Group Ltd is entitled to disclose to such information to other Spread Betting companies who may be inquiring as to bad debt or bet liability.

3.10 It is your sole responsibility to inform London Capital Group Ltd as to whether information concerning your account transactions should be reported to your employer (under the FSA 2000 Act), including its compliance officer and to send contract notes and statements of your account to that compliance officer or to any other person authorised by your employer to receive such information.

3.11 Insolvency Event 
3.11.1 an insolvency event shall occur if:
(a)           if you are an individual, on the passing, or proposal, by you of a voluntary arrangement under the Insolvency act of 1986 (specifically part VIII) or an agreement/composition with your creditors generally or the making of a bankruptcy order
(b)           if you are a company, the passing of any resolution, or order, for the winding up or dissolution of the company, or making of an administration order or the appointment of an official receiver or the sale under encumbrance of any asset of the company or the motion of any voluntary arrangement under the Insolvency Act of 1986;
(c)          if, as a customer of London Capital Group Ltd under these Terms and Conditions, you are unable to pay your debts as they fall due or any act of insolvency or similar or analogous event or action taken in respect of you

3.11.2 in the event of your insolvency London Capital Group Ltd may (but is not compelled to):
(a)           close (in whole or in part) all or any open bets held by the client any profits or losses shall be settled immediately.
(b)           close all of your accounts and refuse to accept any new instructions or bets from you
(c)           impose stops on all open bets
(d)           take any reasonable action to safeguard the interests of London Capital Group Ltd such action to be judged solely by London Capital Group Ltd.

3.12 In accordance with the Financial Services Client Money Regulations 1991 ("CMRs") we hereby inform you that London Capital Group does not pay any interest on any monies held by us. London Capital Group Ltd is required, under the CMRs, to segregate 'Client money' (as defined in such regulations).

3.13 In agreeing to these Terms and Conditions you authorise London Capital Group Ltd to telephone or otherwise contact you at any time whatsoever in order to discuss any aspect of your account with London Capital Group Ltd or any aspect of London Capital Group Ltd or its associated companies business.

3.14 Client Refunds
Due to fraud prevention and money laundering regulations London Capital Group will only refund monies back from where they came. When monies have been deposited by card the funds will be returned to that card where possible and where not possible London Capital Group  may require sight of original bank statements showing original fund transfer to London Capital Group before refunding to said bank account. Where monies have been deposited by bank transfer London Capital Group may require sight of the original bank statement showing said deposit transfer before refunding.
Where bank accounts have been closed London Capital Group may require a letter from the originating bank stating that the account has been closed and there are no funds owing to the bank. Before London Capital Group will refund to a new bank account we may require sight of the original deposit transfer statement from the closed account and sight of an original new bank account statement.
In reference to clause 3.5, if London Capital Group’s records show a discrepancy between card details and London Capital Group’s account details, London Capital Group may require sight of original bank statements, or any other relevant evidence, to confirm your new status before processing a refund.

4.0    Mechanics of making a Bet
4.1 Bets with London Capital Group Ltd can only be made on the telephone or via the London Capital Group Ltd online trading platform.  London Capital Group Ltd will only permit access to its Online Trading Platform on the correct presentation of both your user name and password.
 
4.2 All calls to London Capital Group Ltd telephone lines are recorded, and you hereby agree to the recording of such conversations. The Online Trading Platform retains a chronological history of all trades conducted over that medium and an electronic audit trail of all client activity (although this is not guaranteed). All such records and recordings of telephone conversations are the exclusive property of London Capital Group Ltd and may be used as evidence in any dispute.

4.3 London Capital Group Ltd quotes a two-way market in a stake size acceptable to London Capital Group Ltd involving a spread between the buy and the sell price. Customers may 'buy' at the higher price or 'sell' at the lower price.
 
4.4 When placing a bet over the telephone, you must give your name and account number. Without this information no bets will be permitted even if you claim that the bet is to close an existing open bet. When dealing over the telephone the bet will only be accepted by London Capital Group Ltd when the dealer has taken your bet and confirms that it has been accepted. Deals will be confirmed by electronic means (e-mail).

4.5 Before access is permitted to the Online Trading Platform area you will be obliged to enter your account number and Password. When placing a bet via the Online Trading Platform your confirmation will be via an e-mail contract note. The contract is binding on both parties except for instances of “Pricing Error” (2.1 and 12.1). London Capital Group Ltd will treat bets placed via the Online Trading Platform as active on receipt of such an instruction and of its acceptance. Bets placed via the Online Trading Platform will normally be confirmed at the time of the transaction by electronic means.

4.6 If you are in any doubt whatsoever as to deal acceptance it is your sole responsibility to contact London Capital Group Ltd immediately, in the first instance, by telephone in order to obtain clarification as to the validity of any bet.

4.7 Your password and account number are extremely sensitive pieces of information. Any transactions on your account either over the telephone or the Online Trading Platform using either your account number or your password will be deemed as valid trades. You must not disclose your account number or Password to any person (save disclosure of your account number to an Authorised Third Party pursuant to paragraph 4.11). You should keep any records in separate locations and you should ensure that any record of your account number does not apply to anything that identifies your name. You must immediately inform London Capital Group Ltd if you are aware or suspect that a third party has had access to your account number or Password or that any person other than you (or your Authorised Third Party) is dealing on your account. We recommend that you do not allow your personal computer to automatically remember your user name and password

4.8 In the case of bets placed via the Online Trading Platform, London Capital Group Ltd is under no obligation to recognise the domain from which a Client is trading, it is your sole responsibility to ascertain the legality of spread betting from whatever locale you are trading from.
 
4.9 Where London Capital Group Ltd has allowed unauthorised access to any clients account through negligence by it’s own staff or through abuse by third parties via London Capital Group’s online trading platform (i.e. hacking) London Capital Group Ltd shall indemnify the client from any losses incurred.

4.10 London Capital Group Ltd recognises that in some circumstances it may be necessary or desirable for you to authorise someone to manage your account. You do so at your own risk and both you and the person you wish to authorise to operate your account will be required to execute and deliver to London Capital Group Ltd a letter in the form of a signed Power of Attorney document authorising and appointing such person ("an Authorised Third Party") to operate your account. If you have opened an account electronically, and we do not have an original of your signature, you will not be able to appoint an Authorised Third Party until such time as you furnish us with an independently verified example of your signature (i.e. photocopy of your passport/driving licence) You will be held fully responsible for all actions of the Authorised Third Party. London Capital Group Ltd shall be entitled to accept instructions from such Authorised Third Party until receipt of a written notice from you stating that the authority of the Authorised Third Party is revoked. Such written notice (to be effective) must be sent to London Capital Group Ltd Customer Services Department by registered mail or by personal delivery countersigned by an officer of London Capital Group Ltd. Upon receipt of this instruction London Capital Group Ltd shall change your account number and any passwords attributable to it. Notwithstanding any of the aforementioned London Capital Group Ltd shall be entitled, and without notice to you, to refuse to accept instructions from any Authorised Third Party and to treat the appointment of any such Authorised Third Party as terminated.

4.11 All customers are advised to keep their own written records of all transactions that they have entered into with us whether over the telephone or over the Online Trading Platform.

4.12 London Capital Group Ltd is not obliged to accept any opening bet or bets (in particular if you act in an abusive manner) provided that London Capital Group gives a reasonable excuse for such a refusal

4.13 A bet with London Capital Group Ltd can only be made during London Capital Group Ltd Market Hours for the market in question and within the permissible minimum/maximum stake sizes (unless otherwise agreed by London Capital Group Ltd).
 
4.14 A bet can only be placed on a current valid quote. A price may change at any time after it has been quoted and before you have traded. A quote made to you over the telephone is only valid for that conversation and may not be available on any subsequent telephone call. Quotes that have been given as 'indication only' are not valid and cannot be traded unless otherwise agreed by London Capital Group Ltd. Quotes that have been qualified or quotes that you have been told are no longer valid before you place your bet are also not tradable. For example, if, after the initial quote has been made, the phrases "change" or "off" or words to that effect are used by the London Capital Group employee these mean that the relevant quote is no longer valid. If you have ‘paused’ or ‘asked a question’ or ‘delayed’ in any manner after receiving ‘our quote’, said ‘quote’ may no longer be valid and London Capital Group Ltd reserves the right to amend the quote.

4.15 In the case of bets placed via the Online Trading Platform you may only offer to place a bet on the prices currently quoted on the Online Trading Platform. Such prices are never absolutely valid and on receipt London Capital Group Ltd may, in its absolute discretion, reject or accept your proposed bet. Due to the nature of online trading systems and the potential unreliability of market price feeds London Capital Group Ltd may in its absolute discretion remove or delete bets and any associated bets (i.e. any bets closing subsequently deleted bets) which have been made over the Online Trading Platform which in the opinion of London Capital Group Ltd do not reflect the actual market prices at the time of the placement of the relevant bet. London Capital Group Ltd will be in no way responsible for losses or potential losses sustained by you in trading on a rejected or cancelled bet. London Capital Group Ltd is in no way responsible or liable for losses made with other companies on bets taken in reference to a rejected or cancelled bet (see clause 12.).
 
5.0          Margin Calculations
5.1 In general London Capital Group Ltd only allows its customers to trade on Deposit Accounts. At the sole discretion of London Capital Group Ltd a client may be offered a courtesy credit account.

5.2 Each bet you place has a Margin Requirement associated with it.  The minimum margin requirement is determined (save for certain markets such as binaries and special markets) by multiplying the bet stake by the relevant contract minimum IMR figure.

5.3 Each contract Minimum IMR may be changed from time to time by London Capital Group Ltd without notice to you (for example during volatile market conditions or due to the illiquid nature of any market) and this new minimum IMR multiplier will be applied to all your existing open bets as well as any new bets. Most contract's minimum Initial Margin Requirements (IMR) are set out in the Product Information Sheets which are correct at the time of publication. Minimum IMR multipliers which are not set out in the Product Information Sheets or which have changed since the date of publication of the Product Information Sheets will be quoted on request or posted on the Website. It is your responsibility to ensure that you are using the most recent minimum IMR applicable.

5.4 Occasionally new or 'one off' markets are created, these markets attract their own minimum IMR that may not be published but will be available on demand.
 
5.5 Neither the funds on your account nor the margin requirement applied to your open bets represent your total financial liability to London Capital Group (in particular with reference to paragraph 10.2 and clause 13).

6.0          Contract Specifications
6.1 All times stated in these Terms and Conditions relate to London UK time. All times stated are liable to alteration due to time zone differences, differences in various countries Bank Holidays or date of conversion to ‘Summer Time’ or due to circumstances beyond the control of London Capital Group Ltd. London Capital Group Ltd trading hours (and all hours stated as traded by London Capital Group Ltd in these Terms) may vary according to public holidays (whether UK or elsewhere) and the trading hours of the relevant underlying market. In normal trading conditions the various trading times are set out in the Product Informations Sheets.

6.2 The Product Information Sheets form part of these Terms and Conditions. The Product Information Sheets give detailed information for each market, (much of this information is also available by clicking the information button available on each market online).

1. contract months available in each market
2. London Capital Group Ltd buy/sell spread for each market
3. Minimum IMR for each market
4. basis of settlement
5. last day of dealing
6. minimum and maximum bets/stakes
7. London Capital Group Ltd trading hours
8. London Capital Group Ltd minimum stop level
9. other matters pertinent to various markets.

London Capital Group Ltd has to the best of its ability insured that the Product Information Sheets are correct but London Capital Group Ltd reserves the right to amend any part of the Product Information Sheets at any time.

6.3 Current spreads on contracts will be quoted to you on request. London Capital Group Ltd has the right to vary spreads on any contract without notice especially in, but not limited to, volatile market conditions and/or illiquidity of the underlying market. At London Capital Groups’ discretion quoted spreads made via the telephone may differ from the spreads available on the online trading platform.

6.4 Notwithstanding the spread stated in the market information sheets or the permissible maximum bet stake in any individual market London Capital Group Ltd reserves the right to alter either component without notice to you.

7.0          Your Bet
7.1 Maximum and minimum stakes are set out in the Product Information Sheets or on the Online Trading Platform. At different times the maximum bet allowable for certain contracts may change (normally due to either extreme volatility or because the contract is being quoted out of market hours). Maximum and minimum stakes for new or one off markets will be quoted on request. Maximum and minimum stakes can vary accordingly to market conditions, including market volatility, closure or illiquidity. London Capital Group Ltd reserves the right to vary minimum/maximum stakes at any time. It is your responsibility to ensure that you know the current minimum and maximum stake applicable to any bet.

7.2 Trading Resources (commonly called ‘available margin’) on Deposit Accounts - In the case of Deposit Accounts the Trading Resources are a calculation of the Account Balance less the margin used on any open bets.
 
7.3 London Capital Group account management system will monitor the amount of margin available for any new bet. If your Credit or Debit account has more available resources than the following formula [available resources x 0.8 > stake size x the relevant max CGSL] then the system will apportion a stop loss order at a price that would be equal to a loss of 80% of the max CGSL for that contract. If you have less margin available than the max CGSL (but more than the Minimum IMR requirement) the Computer will apportion a stop loss order that is equal to a loss of 0.8 x available margin. If you wish you may adjust the stop level to another desired level so long as you have margin available. If you have less margin available than that required to satisfy the Minimum IMR requirement for the full stake requested then the entire bet will be rejected. No stop loss created by our computer systems is guaranteed and may be subject to slippage.

7.4 Notwithstanding any other provision of these Terms, London Capital Group Ltd is, entitled in its absolute discretion, to permit stakes which are above the recognised maximum stake for a particular market

7.5 London Capital Group Ltd is entitled in its absolute discretion to close (on London Capital Group Ltd ‘s current quote for that market) any bet placed in excess of any recognised maximum stake for a particular market notwithstanding that London Capital Group Ltd may previously have accepted that bet.

8.0          Opening and Closing of Bets
8.1 Financial spread bet contracts can be closed at any time when the relevant underlying market is open, and not suspended, unless London Capital Group Ltd notifies you otherwise. London Capital Group Ltd may, but is not obliged to, accept closure of spread bet contracts at other times dependent upon market conditions.

8.2 London Capital Group Ltd will only accept bets, whether opening or closing, via the telephone by talking directly to an authorised dealer of London Capital Group Ltd or via the London Capital Group Ltd online trading platform. London Capital Group Ltd has no obligation to transact orders received via any other medium (specifically via e-mail or via letter or via verbal conversations over non recorded telephone lines (i.e. dealers personal mobile phones) or via instructions given in a personal conversation).

8.3 You are not required to close a bet prior to the Expiry Date provided that your Account is not in deficit. However, in certain circumstances and in accordance with the Terms and Conditions, London Capital Group Ltd shall be entitled or may be required to close your spread bet contracts prior to their Expiry Date notwithstanding that your Account is not in deficit.

8.4 Unless market conditions dictate otherwise, all spread bet contracts still open upon their Expiry Date will be automatically closed at the London Capital Group Ltd Settlement Price details of which may be found in the Product Information sheets which form part of these terms.

8.5 If the Expiry Date on a contract/bet is not a recognised Business Day of the relevant underlying market, then the Business Day immediately preceding that stated will be considered as the Expiry Date unless an alternative is specifically stated in the Product Information Sheets or London Capital Group Ltd notifies you otherwise.

8.6 Open spread bet contracts will automatically close on their Expiry Date and at their Expiry Time and any subsequent closing of any such spread bet contract by you (whether or not accepted in error by London Capital Group Ltd) will be void.

8.7 London Capital Group Ltd will treat all bets as a Buy or a Sell without reference to whether such actions open a new bet and/or close (or part close) an existing one.

8.8 You may not hold two opposing bets in the same market at the same time. Any bet taken in the opposite direction to an existing bet will close out either in part or in whole the existing bet.

8.9 In certain market conditions it may not be possible to close single share spread bet contracts with sizable market consideration in full at one price. Such spread bet contracts may instead be closed at a price reflecting the price at which London Capital Group Ltd is able to transact any relevant underlying hedge but only during the trading hours of the underlying market (whether or not the relevant spread bet contract was opened during or outside the underlying market trading hours).

8.10 London Capital Group Ltd may at its sole discretion close and/or cancel any or all spread bet contracts and any associated bets upon the occurrence of:
(a) an Insolvency Event as defined in paragraph 3.11.1 and 3.11.2; or
(b) an Event of Default as defined in paragraph 14.10 and 14.11; or
(c) an event of Force Majeure as defined in clause 13.
(d) a Pricing Error

8.11 All Account Balances that are in debit are immediately due for payment by whatever means is available to you.

9.0     Margin Payments
9.1 If at any time your account balance with London Capital Group Ltd (together with any available credit you may have) is not sufficient to cover in full your total margin requirement which is comprised of the full margin on any open bets added to the net running P/L on those open bets, London Capital Group Ltd shall be entitled to make a Margin Call. Margin is due for payment immediately upon a Margin Call being made.

9.2 London Capital Group Ltd is not obliged to make Margin Calls of you at all or within any specific time period. We shall not be liable to you for any failure by us to contact you or attempt to contact you. It is your responsibility, and not London Capital Group Ltd to monitor your open bets and all other relevant factors used to calculate Margin payable.

9.3 Margin Calls may be made in person, by telephone, telephone answering machine message, voice mail, letter, fax, email or any other means of electronic communication. If the contact details provided by you change in any way you must immediately contact London Capital Group Ltd to provide new or alternative contact details to ensure you can be notified of Margin Calls. A margin call is deemed to have been made if London Capital Group Ltd has endeavoured to contact you using the details supplied by you for that purpose. The margin call will be deemed to have been made at the first time that such attempts have been made. Any message left on any electronic medium either mobile and telephone answering machine using the designated numbers supplied by you will be deemed as evidence of a margin call having been made. Any FAX requesting a margin payment will be deemed received by you upon our receipt of a successful transmission confirmation. Any e-mail sent to you will be deemed received upon receipt by London Capital Group Ltd of a successful delivery notice.

9.4 Any request that you make contact with London Capital Group Ltd for whatever reason should be regarded as vital and should be acted upon immediately.

9.5 You must pay Margin immediately in the form of cleared funds in pounds sterling, US dollars or euros or such other currency as may be acceptable to London Capital Group Ltd by not later than 4.00pm London time on the first Business Day immediately following the day on which the Margin Call is made or deemed to have been made.

9.6 London Capital Group Ltd may at its sole discretion alter the margin requirements on your account  

9.7 If you fail to pay Margin in accordance with paragraph 9.5 London Capital Group Ltd may, but is not obliged to, close any or all of your open bets on the basis of London Capital Group Ltd current market quotation(s) or if the market is closed the next available when it does open and/or close your Account and not open any further spread bets contracts for you.

9.8 Notwithstanding that a Margin Call has not been met, London Capital Group Ltd may at it’s sole discretion allow your open spread bet contracts to run and allow you to open further spread bet contracts. This will not affect London Capital Group Ltd’s rights at any subsequent time to take any action under paragraph 9.7.

9.9 London Capital Group Ltd may, at its sole discretion, close all open bets if a Margin Call is not met within five Business Days of the receipt by you of the Margin Call or of our deemed receipt by you of the Margin Call as per paragraph 9.3, whichever is the earlier.

9.10 Notwithstanding any movements in the market that may reduce the Margin Call on your account you are still liable to pay the full margin as originally requested assuming you still have the same or similar bets open. London Capital Group Ltd may upon failure to pay this full margin take action under clause 9 and close all your bets. London Capital Group Ltd may take tardy margin payments as indicative of client risk and at its sole discretion may alter the margin call parameters or close the account.

9.11 Margin can be paid by telegraphic transfer or by approved debit or credit card, direct debit or any other method of immediate/electronic funds transfer acceptable to London Capital Group Ltd.

9.12 If a Margin Call or other request for payment is made to a Client who is at the time of the call resident outside the UK and is unable to make payments as per paragraph 9.11 that Client is entitled to make the Margin payment concerned by way of bank draft drawn on a UK clearing bank provided that the said bank draft must be delivered to London Capital Group Ltd by 4.30pm on the next business day after the day on which the Margin Call (or other request for payment) was made.

9.13 The Margin charged to your account is not the total extent of your financial liability to London Capital Group Ltd, as you must make good in accordance with these Terms and Conditions any losses you suffer and any other payments due hereunder.

9.14 Additionally and without prejudice to this clause 9 or any other provision of these Terms and Conditions London Capital Group Ltd reserves the right (but is not obliged) to close any or all, in whole or in part, of your open bets (including those held on a joint account with others) on the basis of London Capital Group Ltd current (or next available) market quotations, to close your account and not accept any further bets from you, in each of the following without notice to you;
(a) if any method of payment used by you to make payment to London Capital Group Ltd is not met on first presentation or is subsequently dishonoured or such payment is not received within five business days of the margin call being received or deemed received by you;
(b) if any statement in whatever form that is made by you in relation to these Terms and Conditions is or becomes inaccurate in any material, in the sole opinion of London Capital Group Ltd, respect;
(c) if London Capital Group Ltd, in its absolute discretion, considers that you are unlikely or unable to meet any Margin call when it falls due
(d) if you are involved in an Insolvency Event;
(e) if any regulator of London Capital Group Ltd business or its rules requires that London Capital Group Ltd do so;
(f) if you have some dispute or complaint over any instruction or any bet made by you (in such case we may close only the bet, or part of the bet, that is part of the actual or alleged dispute);
(g) if London Capital Group Ltd suspects or has any reason to suspect that you may be involved in criminal or fraudulent activity;
(h) if there occurs any other event or any other circumstance exists, where we reasonably believe that it is necessary or desirable to take any of the above actions in order to protect ourselves or any or all of our other Clients.

9.15 If your account has been closed by London Capital Group Ltd you will no longer be entitled to trade or place any bets.

10. Limit Orders, Stop Orders and Other Orders
In certain circumstances fills of New Order levels may differ from the requested fill level due to conditions beyond the control of London Capital Group Ltd. For example, if the relevant underlying market is open and trades through or has opened through the level of an order, commonly known as 'gapping', such orders will be executed at the London Capital Group Ltd quote based upon the first price London Capital Group Ltd are reasonably able to obtain in the underlying market. In respect of markets quoted by London Capital Group Ltd outside the trading hours of the relevant underlying market, all orders are basis LONDON CAPITAL GROUP LTD QUOTE / OUR QUOTE and may be filled at the London Capital Group Ltd quote based on a price which is in London Capital Group Ltd opinion fair and reasonable in light of prevailing world markets at that time. It is your sole responsibility to ensure that you are aware of the risks involved in non-guaranteed stops and the potential liability that you may incur should the markets gap on open or should the markets encounter a Force Majeure situation. See also clause 10.2

10.1 It is a requirement that all London Capital Group Ltd customers place stops on every bet opened (unless otherwise informed in writing). On the Online Trading Platform the London Capital Group Ltd systems will return a stop that will either reflect the CGSL of the contract involved or be based upon the funds available in your account. This stop can be found on your deal ticket and also in the confirmation e-mail. Telephone trades will receive confirmation of any relevant stop solely via an e-mail confirmation. These stops are binding and unless altered by you will be activated on an “Our Quote” basis.

10.2 No orders are guaranteed, London Capital Group Ltd may fill orders when it is reasonably able to do so. In certain circumstances the stop level may be altered due to conditions beyond the control of London Capital Group Ltd. For example, if the relevant underlying market is open and trades through or has opened through the level of an order, commonly known as 'gapping', such order will be executed at the London Capital Group Ltd quote based upon the first price London Capital Group Ltd are reasonably able to obtain in the underlying market. In respect of markets quoted by London Capital Group Ltd outside the trading hours of the relevant underlying market, all orders are basis LONDON CAPITAL GROUP LTD QUOTE / OUR QUOTE and may be filled at the London Capital Group Ltd quote based on a price which is in London Capital Group Ltd opinion fair and reasonable in light of prevailing world markets at that time. It is your sole responsibility to ensure that you are aware of the risks involved in non-guaranteed stops and the potential liability that you may incur should the markets gap on open or should the markets encounter a Force Majeure situation.

10.3 Any orders placed as stops on open bets shall (a) be deemed "good until cancelled" ("GTC") (see paragraph 10.10) or until the contract expires or until such time as you close the relevant bet;(b) be at levels and on terms acceptable to London Capital Group Ltd; (c) be deemed to be "LONDON CAPITAL GROUP LTD QUOTE"/"OUR QUOTE"; (d) be valid in respect, solely, of the market in respect of which London Capital Group Ltd accepted the order and not for any other. For example an order instruction accepted in relation to the Daily FTSE Future contract will not apply to the next Daily FTSE Future contract (or any subsequent day) once the designated Daily FTSE Future contract on which you placed the order has expired.

10.4 During the hours when London Capital Group Ltd does not offer a spread betting service no stops or orders of any kind will be activated except by agreement with London Capital Group Ltd. Upon the opening of any market quoted by London Capital Group Ltd any currently actionable Stop, Limit or New Order will be filled at the first ‘Quote’ for the relevant market that London Capital Group Ltd are reasonably able to obtain with reference to the underlying market and the size of the bet order in question.

10.5 Orders will be subject to the maximum stake size applicable at the time of execution of the order irrespective of the maximum stake size applicable at the time of placing the order. London Capital Group Ltd reserves the right to alter the maximum stake size of any market as it sees fit. Orders that on implementation would be in excess of the maximum stake size applicable on execution may be transacted in tranches of the applicable maximum stake size until the order is filled. Clients should be aware that in volatile markets the price applicable to each tranche might differ considerably.

10.6 London Capital Group Ltd will only accept instructions in relation to orders either over the online dealing platform or over the main dealing telephone lines. London Capital Group Ltd is not obliged to accept any other instruction in relation to orders whether via e-mail, FAX or any other form of communication. When placing a stop or limit order you must ensure that you are complying with all terms and conditions relevant to your placing that order, London Capital Group Ltd at its sole discretion may refuse to take any order.

10.7 It is solely your responsibility to cancel any order you have placed which, unless you do so, may be filled by London Capital Group Ltd and may therefore cause losses to which you will be liable. In the case of stop loss orders if the related bet is closed by you the stop loss order will be deemed automatically cancelled.

10.8 London Capital Group Ltd is not obliged to inform you if an order is filled, it is solely your responsibility to ensure that you know at all times as to whether any order has been filled or is still active.

10.9 "LONDON CAPITAL GROUP LTD QUOTE" (otherwise known as "OUR QUOTE") means that (subject to all other provisions of this clause 10) an order will be executed when the London Capital Group Ltd current quote reaches the price specified in your order or trades through the price specified. All quotes are based upon an ‘underlying market’ that is sourced from either a recognized global exchange (LSE, NYSE, LIFFE etc) or from a wholesale counterparty (a quoting bank or market maker). ‘Our Quote’ may be higher or lower than the ‘underlying market’ due to interest rate costs, dividends, scrip issues, stock splits, competitor (another spread betting company) quotes or weight of Client business. For Markets quoted by London Capital Group Ltd outside the trading hours of the relevant underlying market all orders are basis LONDON CAPITAL GROUP LTD QUOTE / OUR QUOTE and may be filled at the London Capital Group Ltd quote based on a price which is, in London Capital Group Ltd’s opinion, fair and reasonable in light of prevailing world markets at that time.

10.10 Good Till Cancelled (GTC) means that the order will remain in effect until the order is filled or you cancel the order or the contract expires or in the case of a stop loss, until you close your related open bet. Having left your GTC order basis, "LONDON CAPITAL GROUP LTD QUOTE"/"OUR QUOTE", the relevant order will be valid from the market open until the market close at the end of each daily trading session during the lifetime of your order  (i.e., London Capital Group’s Quoting Hours for the market concerned). If there is any form of gap between the close of the market as quoted by London Capital Group Ltd and its reopening either on the next day or, in the case of a force majeure, whenever the market officially reopens the customers stop will be executed at the London Capital Group Ltd quote based upon the first price that London Capital Group Ltd are reasonably able to obtain in the underlying market.

10.11 Good For Day (GFD) means that the order will remain in effect until London Capital Group Ltd ceases to quote the relevant market for that day. Orders on Daily markets that close and reopen during the course of a single business day will refer to the market open at the time that the relevant order was given or, in the case where the previous days market has expired but the next days market has yet to open, will refer to the next business days market. For example, an order on the Daily FTSE future given before 16.30 will refer to the current days Daily FTSE future but an order given after 16.30 will refer to the next business days Daily FTSE future. All GFD orders are based on a ‘London Capital Group Ltd Quote’ basis.

10.12 Good Until Orders mean that the order will remain in effect until the time and date stated when the client placed the order or until London Capital Group Ltd ceases to quote the relevant market (whichever is the sooner). All Good Until orders are based on a ‘London Capital Group Ltd Quote’ basis

10.13 Once a stop, limit or new order level is hit London Capital Group may at its sole discretion allow a client to amend this order before it has been actioned by London Capital Group. Your receipt of an e-mail confirmation of an order amendment is not binding on London Capital Group. London Capital Group may at its sole discretion decide to activate the original order if the activation of that order occurred before the amendment was made. London Capital Group shall not be liable for bets generated by client’s assumption of non-activation of a fairly executed order.

10.14 When a new order is activated London Capital Group will fill this order so long as your available resources are greater than the minimum IMR for the whole order. Any ‘If Done’ stop loss level specified by you, that requires more margin than that available, will be cancelled and a Stop Loss will be applied conforming to the CGSL. Any new order for which you have insufficient available margin for the entire stake will be cancelled in its entirety and will not be part filled..

10.15 If a series of new orders may be filled to close existing positions and/or open ‘new’ positions then these orders will be filled by London Capital Group in any sequence determined by London Capital Group. If this results in subsequent orders having insufficient trading resources for activation, then these orders will be cancelled. London Capital Group will not look at an order filling sequences that may result in one order being filled and another failing, London Capital Group will fill orders as and when they are seen by their dealers and at their sole discretion.

10.16 If a ‘new order’ is slipped on activation and the order is actioned at a price that would also have activated any associated ’limit’ orders, then the bet will immediately be closed with a loss to the client of the prevailing London Capital Group quoted spread for that market.

10.17 '24 hour' Trading
If a market is open for ‘24 hour’ trading this will affect all orders attached to that market.
Markets open after London Capital Group’s normal hours of business (Mon –Fri 07.00-21.15) may be offered on a wider spread than that available in the normal trading hours.

If a 24 hr market is not available for trading for whatever reason clients will not be able to add ‘new’ or amend ‘existing’ orders. If a 24-hour market is not available to trade for whatever reason any orders, which may have been eligible for activation, had the market been open will NOT be filled unless they are still subject to activation upon reopening of the market. If the order is still subject to activation they will be filled at the first available quote on our platform upon reopening of the market.

If a market is unavailable for trading, clients will be unable to make any trades in that market until such time as the market reopens.
‘24 hour trading’ may not, in fact, mean the whole 24 hours in any day but may be used as a generic term to refer to a market that is quoted by London Capital Group outside of the company’s normal hours of business (Mon –Fri 07.00-21.15).

Out of hours trading is restricted to much smaller stakes than those available in normal business hours, although clients may close out existing positions of whatever size. Clients will also be unable to build stakes in out of hours markets as, in general, the maximum single stake available will also be the total allowable open position. If a client already has a total open position greater than the maximum allowable stake he/she will not be able to increase that position.
Should any trade subsequently be shown to have been made at an erroneous or unreasonable price to either the client or to London Capital Group (see Pricing Error), that trade and any associated trades will be either cancelled or amended to reflect the correct price prevalent at that time.
All clients’ bets in relevant markets are subject to the market activity of ‘24 hour’ products even if the positions were opened during normal hours of business.

If a ‘new’ order is activated in ‘24hr’ market time that order is subject to the trading limits permissible during ’24 hr’ trading. (i.e. if the trading limit in a ‘24 hour’ market is £10 a point but a client has placed a £20 a point ‘new’ order (even if the order was placed in normal market hours) then that order will be cancelled if activated during hours outside of London Capital Groups’ normal hours of business and no position will be created). This order limit does not apply to stops.

11.          Roll-Over
11.1 You may at any time before the last dealing time of an open bet ask for a quote to roll the bet over into the next contract period. You must have sufficient margin in your account to permit the opening of the new bet. Any rollover price quoted will reflect prevailing market premiums / discounts. Permission to roll-over any open bet is in the absolute discretion of London Capital Group Ltd. Upon enactment of the roll-over trade the original bet will be closed and will become due for settlement (any loss on the closed bet becomes realised and payment becomes due) and a new bet in the next relevant contract period is created.

11.2 For further information relating to rollovers please read the Product Information Sheets.

Daily Rolling Bets are available in a variety of markets. Each market has its own conditions and spread, which may vary at the discretion of London Capital Group.

Rolling bets incur a charge (or a refund) for each day that the bets are open at the close of London Capital Group’s normal hours of business. This charge (refund) is calculated on the total equivalent market value of each bet held overnight. London Capital Group will charge (or pay) interest on this market value for each day that the bet is held open overnight. London Capital Group will charge the relevant funding rate plus 2% for long bets (buy bets) and will pay the relevant funding rate minus 2% for short bets (sell bets).

These bets will remain open so long as the client has funding available to support the Minimum IMR for each market. London Capital Group reserves the right to unilaterally move stop levels on any open rolling bet such that the client remains in a positive ‘available funds’ position. Should the client be unable to support any rolling bet due to the ongoing cost of the daily rolling charge (and the constraints of the minimum IMR) London Capital Group reserves the right to close part or all of any bet sufficient to bring the client into a positive available funds position.

A rolling bet has, nominally, no expiry date but may be closed by London Capital Group in situations of Force Majeure (clause 13) or in situations where the cost of rolling the bet has used more than the client’s available margin. When bets are closed by London Capital Group the price will be at the full spread quoted by London Capital Group at that time or at a price that in the opinion of London Capital Group fairly reflects the price at that time.

All other terms and conditions apply to Daily Rolling Bets.

12.          Errors
12.1 An e-mail confirmation of a bet that does not accurately reflect the relevant market price at the time when the bet was made either over the telephone or via the Online Trading Platform does not entitle the Client or London Capital Group Ltd to enforce whatever is inaccurately recorded in the contract note. See ‘Pricing Error’ Clause 2.0 and Clause 8.10

13.          Force Majeure
13.1 Exceptional / Unusual / Emergency Market Conditions (Force Majeure Event) may be deemed to have occurred if -
a)            an event which prevents London Capital Group Ltd from making orderly markets in any contract normally quoted by London Capital Group Ltd for the purposes of making spread bets
b)            the event of excessive volatility, as reasonably assessed by London Capital Group, in any market normally quote by London Capital Group Ltd or of the anticipation by London Capital Group Ltd that such a situation may occur
c)             any quoted exchange or underlying product on which London Capital Group Ltd relies for its spread betting quotes is suspended or closed.
d)            any imposition or limitation on any market or product causes, as reasonably assessed by London Capital Group, a significant loss of liquidity in that market or product. (i.e. the suspension of a share) loss of liquidity in that market or product. (i.e. the suspension of a share)
e)            any act, event or occurrence including any strike, riot or civil commotion, terrorism, interruption of power supply or electronic communication or information system technical or communication problems or other act of god caused through loss of power which prevents London Capital Group from providing a normal spread betting service.

13.2 If we conclude in our reasonable assessment that a Force Majeure Situation exists then we may in our absolute and sole discretion:

(a) suspend trading and/or amend London Capital Group Ltd Market Hours for all or any markets;
(b) increase deposit/margin requirements and/or amend credit limits in the case of Credit Accounts;
(c) close any or all open bets;
(d) refuse to take any further bets even if such bets would be closing bets;
(e) immediately require payment of Margin and/or any other amounts you may owe London Capital Group Ltd;
(f) cancel or fill any orders in each case at such levels as we consider in good faith and in our sole discretion to be fair and reasonable in the circumstances
(g) reduce the maximum stake size allowable
(h) vary (by this we mean widen) any spreads quoted by London Capital Group Ltd;
(i) suspend or amend any part of these Terms and Conditions to the extent that it is impossible or unreasonable for London Capital Group Ltd to conform to them;
(j) take all such actions as London Capital Group Ltd deem proper in the circumstances to defend our Clients and ourselves as a whole.

13.2 In the absence of fraud or bad faith, London Capital Group Ltd shall not be liable to you for any losses you may suffer by reason of any action it may take in accordance with Clause 13.

14.          Account Settlement
14.1 If your Account Balance is in debit, the full amount of that balance is due immediately. Payment must be made in the currency in which the debit balance is denominated (or by agreement with London Capital Group Ltd and at an exchange rate designated by London Capital Group Ltd the amount may be transferred in a currency of your choice).

14.2 London Capital Group Ltd will require immediate payment of any debit Account Balance by either telegraphic transfer, debit/credit card, direct debit or any other method of immediate/electronic funds transfer acceptable to London Capital Group Ltd or by bankers draft drawn on a UK clearing bank and delivered to London Capital Group Ltd by 4.30pm on the same business day that the debit Account Balance became due.

14.3 Any client resident outside the UK may make payment by bankers draft drawn on a UK clearing bank and delivered to London Capital Group Ltd by 4.30pm on the same business day that the debit Account Balance became due.

14.4 London Capital Group Ltd is entitled to refuse payment by cheque without notice and without giving any reason.

14.5 London Capital Group Ltd reserves the right to and shall be entitled to charge interest on all sums payable to London Capital Group Ltd under these Terms and Conditions which are not paid within 5 days of their due date until payment is made in full, London Capital Group Ltd shall charge you 2% per calendar month or part thereof cumulative on the sum owed to London Capital Group Ltd. London Capital Group Ltd will require you to reimbursement for any and all costs we may suffer or incur if you fail to make payment when due for any reason whatsoever;

14.6 London Capital Group Ltd has the right to debit from your Account or any other account in which you hold an interest any costs, interest or expenses incurred in recovering said debt. All Debts to London Capital Group Ltd are recoverable in law; London Capital Group will actively pursue any sum (whatever the size) that is due.

14.7 Unrealised profits will under no conditions be paid or be available for electronic withdrawal or offset your obligation to pay your realised losses.

14.8 London Capital Group Ltd shall be entitled to keep hold of funds which are required to cover adverse cash positions, margin, any uncleared funds (i.e. cheques or credit card payments), realised losses and any other amount due under these Terms and Conditions.

14.9 Set Off/Netting Provisions
(a) London Capital Group Ltd may at any time set off any liabilities owed by it to you against any amount owed by you to London Capital Group Ltd. London Capital Group Ltd reserves the right, without notice to you and in its absolute discretion, to consolidate any or all of your accounts of whatever type or description or any accounts in which you have a part or management function or oversight interest.

(b) Without prejudice to any par of these Terms and Conditions London Capital Group Ltd shall be entitled to require the settlement of all open spread bet contracts at any time and with immediate effect. Such settlement shall be made at the market quote for each bet at the time of settlement or at the first such time that such a settlement may be practicably made. The settlement amount in respect of each open spread bet contract shall be calculated by London Capital Group Ltd at its sole discretion as the difference between the opening value of each bet and its value on the settlement price.

14.10 A Default Event shall be deemed to have occurred if:
(a) any statement either oral or written made by you to London Capital Group Ltd is or becomes untrue or misleading.
(b) you fail to carry out any obligation to London Capital Group Ltd under the Terms and Conditions or you fail to do anything that you have stated that you will do whether orally or over the telephone or by any form of written or electronic message
(c) you die or become a patient within the meaning of any applicable mental health legislation.
(d) you are in default of payment of money owed to London Capital Group Ltd or any of its associated companies.
(e) London Capital Group Ltd at its sole discretion believes that any of the circumstances set out in paragraph 14.10 are likely to happen.

14.11 If a Default Event occurs London Capital Group Ltd may (but is not obliged to):
(a) close (in whole or in part) all or any open bets held by the client, any profits or losses attributable to such bets shall be settled immediately.
(b) close all of your accounts and refuse to accept any new instructions or bets from you
(c) impose stop orders on all open bets
(d) take any reasonable action to safeguard the interests of London Capital Group Ltd such action to be judged solely by London Capital Group Ltd.

14:12 Due to fraud prevention and money laundering regulations London Capital Group will only refund monies back from where they came. When monies have been deposited by card the funds will be returned to that card where possible and where not possible London Capital Group  may require sight of original bank statements showing original fund transfer to London Capital Group before refunding to said bank account. Where monies have been deposited by bank transfer London Capital Group may require sight of the original bank statement showing said deposit transfer before refunding.
Where bank accounts have been closed London Capital Group may require a letter from the originating bank stating that the account has been closed and there are no funds owing to the bank. Before London Capital Group will refund to a new bank account we may require sight of the original deposit transfer statement from the closed account and sight of an original new bank account statement.
In reference to clause 3.5, if London Capital Group’s records show a discrepancy between card details and London Capital Group’s account details, London Capital Group may require sight of original bank statements, or any other relevant evidence, to confirm your new status before processing a refund.

15.          Confirmations, Queries on Accounts and Complaints
15.1 London Capital Group Ltd contract notes will be e-mailed to you immediately upon action of any bet or order or amendment of order or any cancellation of order. Any material action affecting your account will trigger an e-mail confirmation. The absence of an e-mail confirmation of an action on your account will not affect the validity of any bet or order, which has been placed.

15.2 Your account statement will be available online at any time unless London Capital Group has suspended your account or the Online Trading Platform is unavailable for any reason.

15.3 It is solely your responsibility to keep yourself fully up to date in respect of all your bets and any live orders. As soon as you receive any contract note you must check it to make certain that it is correct. The sooner that London Capital Group Ltd is made aware of any error or problem, the sooner we will be able to look into or correct it. You must also regularly check your online statement. 

15.4 If you receive a contract note for a bet or filled order that you allege has not been transacted by or for you, London Capital Group Ltd must be notified immediately. If you do not receive a contract note for a bet you have placed (or believe you have placed) you must notify London Capital Group Ltd immediately.

15.5 If you think that any contract note or statement contains any error you must notify London Capital Group Ltd immediately.

15.6 Any query or dispute in respect of any trade or conversation, together with details of the time and date of the trade or conversation must be communicated to London Capital Group Ltd as soon as you become aware of it If the dispute or complaint is not satisfactorily resolved it should be referred, again with all details, to the Customer Services Desk of London Capital Group and, if not then resolved to your satisfaction, should be further referred to the Compliance Officer of London Capital Group >g.lopez@londoncapitalgroup.co.uk . Should you be in any way dissatisfied with the resolution of any dispute you have the right to refer the matter to the Financial Ombudsman Service www.financial-ombudsman.org.uk. In circumstances of this occurring the matter should be referred to the Ombudsman within 28 days of the Compliance Officers’ resolution of the dispute.

15.7 London Capital Group Ltd may at its discretion immediately close, at the prevailing London Capital Group Ltd quote or the first such quote available, any bet that is in dispute. No matter what the subsequent result of the dispute, London Capital Group Ltd will not reopen or reinstate any such closed trade.

16.0        Betting on Equities/Shares
16.1 The following provisions of this clause 16 apply to equity/share bets and their associated options, in addition to all other provisions of these Terms and conditions. Clients should note that they are betting on the outcome of the price of a financial derivative, in this case a share, and will not be entitled to delivery of, or be required to deliver, the underlying product and will not be entitled to dividends or any equivalent thereof or any other interest therein.

16.2 In the event of any scrip dividend or rights issue (or any dilution or concentration of share capital or any special dividend or return of share capital) or cancellation of dividend in any share or indices bet that is already open London Capital Group Ltd reserves the right to adjust all and every opening bet price taken in that product (or to cash adjust your account) to fairly reflect the impact of the same.

16.3 On expiry of equity bets of less than £100 a penny/cent movement and/or of less than £30,000 total virtual value, i.e. a £1 bet on a UK share is the equivalent to buying (or selling) 100 shares so that a £50 bet on a share priced at £2.00 would have a virtual value of £10,000 (50 x 2 x 100) whichever is the least the settlement price will be based on the closing bid or offer price of the bet plus or minus the London Capital Group Ltd spread on that bet depending on the client position (if the client has an Up Bet on expiry the settlement price will be the bid of the share in the market at expiry time minus the spread and if he has a down bet on expiry the settlement price will be the offer of the share in the market at expiry plus the spread).   

16.4 On expiry of equity bets of greater than £100 per penny/cent movement and/or of total virtual value greater than £30,000 London Capital Group Ltd shall settle the bet at either the average price of the underlying share in the last hour of trading of the last dealing day on a fair and reasonable, in the assessment of London Capital Group Ltd, bid/offer spread plus or minus the relevant London Capital Group Ltd spread or at the price achieved by London Capital Group Ltd in removing its hedge on the relevant bet during the course of the final business day of the relevant expiry date plus or minus the relevant London Capital Group Ltd spread.

16.5 If a spread bet is made by you in a contract that is found to be illiquid in any fashion either leaving London Capital Group Ltd unable to purchase sufficient shares to cover your bet or unable to borrow the same in the open market, London Capital Group Ltd reserves the right to cancel your bet at the opening price. London Capital Group Ltd will endeavour to inform you as soon as is possible to this event.

16.6 If a spread bet that has been made by you, in a share or contract, subsequently becomes illiquid London Capital Group Ltd reserves the right to close all or part of any such bet at the current London Capital Group Ltd quote.

16.7 If a share become subject to a take-over offer London Capital Group Ltd reserves the right to close any or all bets at any time during the take-over process or to adjust the opening price of your bet to reflect any cash portion of the offer and/or to close the existing bet and reopen a new bet reflecting the new security that is created by the take-over.

16.8 If a share is suspended London Capital Group Ltd is entitled to ask for additional margin to cover any liability to the extent that London Capital Group Ltd considers a fair and reasonable price in the circumstances. If a share remains suspended for more than four business days London Capital Group Ltd at its sole discretion may close the bet with reference to the last official price at the time of suspension.

16.9 Assuming no fraud or bad faith London Capital Group Ltd shall not be liable to any losses howsoever caused in relation to this clause 16.

16.10 You are referred to the Product Information Sheets for the further terms and conditions relating to equity bets and associated options.
 
17.0        Personal Statements
17.1 Each time you make a bet you signify and agree that all statements concerning personal warranties and representations are repeated and that:
 
(a) all information that you have provided us with (in your Application Form and subsequently) is true and accurate in all material respects
(b) you have read and fully understood these Terms (including the Product Information Sheets) and the Risk Warning Notice (which forms part of the Application Form)
(c) if you are an individual you are over 18 years of age
(d) you agree to be bound by these Terms and Conditions
(e) the action of taking a bet with London Capital Group Ltd is legal in the Jurisdiction you are currently resident and that you will not violate any law or ordinance relevant to you
(f) you are taking each and every bet on your own behalf as principal and not as a third parties representative
(g) you warrant that you are not acting in such a manner (nor is any Authorised Third Party duly authorised by you acting in such a manner) as may be termed market abuse under the Act and you are not breaching any rule or regulation under the Act or under FSA rules or violate any law applicable to you;
(h) if you are a company that in placing any bet or instruction you are duly authorised to do so;
(j) that any person authorised by you to trade or issue instructions on your behalf has read and understood both the Terms and Conditions and the Risk Warning.

17.2 If any losses are incurred by you or by London Capital Group Ltd due to your breach of any warranty as set out herein you shall be liable for the total sum involved


18.0        Alterations to these Terms and Conditions
18.1 These Terms are subject to alteration by notice to you. Any alteration shall be effective immediately on service in accordance with clause 19 and shall apply to all open bets and unfilled orders as at and after the effective date of the change.

18.2 London Capital Group must notify all clients as to the reason for any change to the terms and conditions.

19.          Notices
19.1 All notices will be sent to customers of London Capital Group Ltd via the e-mail messaging medium and unless London Capital Group Ltd receives a 'failure to deliver' message all such messages will be deemed to have been received by you. Any alteration of your e-mail address must be communicated immediately to London Capital Group Ltd. Any losses incurred by you through non-receipt of notification or confirmation (in the case of bets or orders placed) are payable by you. London Capital Group Ltd accepts no responsibility for non-receipt by you of any such notification or confirmation.

19.2 If London Capital Group Ltd has no earlier receipt or notification of receipt from the client any notice or other communication from London Capital Group Ltd to the Client shall be deemed to have been duly served on the Client

(a) if hand delivered at the Customer’s last known home or work address or when actually given in person to the Client;
(b) if given orally over the telephone or in a face to face exchange with the Client (or person claiming to the London Capital Group Ltd representative to be the Client), when it has actually been given
(c) if given by leaving a telephone answering machine message, text message or voice mail message, two hours after the message being left on the relevant medium;
(d) if sent by first class post two business days after posting of same;
(f) if sent by fax, on completion of its transmission, provided that a transmission "successful" notification has been received by London Capital Group Ltd;
(g) if sent by e-mail upon receipt of a delivery notice by London Capital Group Ltd.

20.          Limitations of Liability
20.1 You may not assign any part of you profits or losses to a third party. A third party may not place any funds in your account or withdraw funds from your account. All withdrawals from your account balance must be payable directly to you (by means of a cheque or BACS payment) or into an account in your name via direct debit.

20.2 In agreement with you London Capital Group Ltd may waive or relax any of these Terms and Conditions from time to time. In particular but without limitation, where these Terms and Conditions specify certain limits or parameters to your betting activities and/or Margin requirements, London Capital Group Ltd may, but only on agreement with you, allow you to breach such limits. Any liability accrued due to such permission is your sole responsibility. Any agreement to waiver or failure to enforce any part of these Terms and Conditions shall not constitute a waiver by London Capital Group Ltd to enforce such rules at a subsequent time.

20.3 These Terms do not limit or exclude any liability arising out of fraud or for death or injury arising by reason of London Capital Group Ltd negligence.

20.4 Subject to all other provisions of these Terms and Conditions London Capital Group Ltd is liable to you to pay you your realised available profits. The foregoing is London Capital Group Ltd entire liability to you.

20.5 Nothing in these Terms shall exclude or restrict any duty or liability owed by us to you under the 2000 Act or FSA rules, which shall, in the event of conflict, prevail over these Terms.

20.6 If any of these Terms and Conditions shall be found to be unenforceable or invalid, such unenforceability or invalidity shall not affect any other part of these Terms and Conditions (or the remaining portion of the affected part as the case may be), which shall remain in full force and effect.

20.7 The Client shall not assign, transfer, charge or sub-contract any of the rights or liabilities hereunder.

20.8 London Capital Group Ltd shall be entitled to assign, transfer, charge, sub-contract or deal in any manner with all or any of its rights and/or liabilities hereunder including by way of transfer of the same to an associated company.

21.0        Legal Jurisdiction
21.1 These Terms and Conditions and all business transacted between London Capital Group Ltd and the Client shall be governed by the laws of England and all parties where ever resident shall submit to and be subject to the jurisdiction of the English courts.

22.0        Market Abuse
Customers must be aware that spread betting is a regulated activity by the FSA and that applicable rules and regulations that pertain to the trading of Equities and Futures also pertain to spread betting. Customers are especially reminded that this applies to all forms of market abuse such as insider trading and to directors making bets in shares of their own companies.

23.0        Taxes
For residents in Great Britain, at the present time, income from betting activities is exempt from personal income tax and betting losses are not deductible for tax purposes. Tax regulations may change at any time. It is your sole responsibility to ensure that your spread betting activity complies with your local income tax regulations and any other applicable fiscal laws. 

24.0 Promotions

Promotions are not open to employees of London Capital Group or employees of any other company engaged in direct competition with London Capital Group Ltd.  Any offer which states that a credit will be made to your account means that an equivalent cash deposit will be made to your spread betting account.  Customers are only permitted to apply for one cash/credit offer for spread betting and one for binary betting.  London Capital Group reserve the right to withdraw these offers at any time.

London Capital Group Ltd is authorised and regulated by the Financial Services Authority (FSA).

Supplementary Binary Betting Terms and Conditions

The terms and conditions below encompass the rules for the use by a client of the Binary Betting trading platform and price systems as offered by London Capital Group Holdings plc (LCG) or any of its subsidiaries through any of its or their various delivery vehicles. Such terms and conditions shall be read in conjunction with the Binary Betting Offering terms and conditions (‘BBO’), which can be found on www.capitalspreads.com and together constitute an agreement (the “Terms”) between London Capital Group and you. The expression ‘the Agreement’ includes the Terms.

By placing a binary bet you agree to be bound by this Agreement and you agree to make payments to us in each case in accordance with this Agreement. You agree to use the Binary Betting Offering only in accordance with this Agreement.
In the event of any inconsistency between these terms and conditions and the Rules London Capital Group shall be at its sole discretion the final arbiter.
The ‘Rules’ refer to the specific parameters which pertain to each individual market offered on the Binary Betting Platform

2. Account Suspension
We reserve the right to close or suspend your account at any time.

3. Account security

You acknowledge that we will rely on your account number and/or password to identify you and agree that you will not disclose these details to any unauthorized person.
In no event will we be liable to you for any loss you suffer as a result of any unauthorized use or misuse of your security access details.

1. At our sole discretion we may accept or decline any attempt made by you to open or close a bet with us. Confirmation by us of acceptance of any bet is subject to amendment or subsequent cancellation if in the sole opinion of London Capital Group the bet was placed at a materially incorrect price.
2. Our acceptance of any bet will be evidenced by our confirmation of its terms to you either verbally or by ticket confirmation on your account Internet screen. Receipt of this ticket confirmation is not a binding contract on London Capital Group and may be subject to alteration and/or cancellation as per clause 4.1.
3. You will receive an e-mail confirmation for every successful bet. Receipt of this e-mail is not a binding contract on London Capital Group and may be subject to alteration and/or cancellation as per clause 4.1.
4. A binary bet price denotes the probability of an event either happening or not happening. As the probability of the event becomes more likely so the price will rise or in the event of the probability of the event reducing the price will fall.
5.  To place a bet agreeing that the subject of the event will occur you will be placing a ‘Buy’ bet. To place a bet disagreeing that the subject of the bet will occur you will be placing a ‘Sell’ Bet. When you place a "Buy" bet you will be making a wager on the higher figure quoted by us and when you place a "Sell" bet you will be making a wager on the lower figure quoted by us.
6. Subject to acceptance by London Capital Group you may close an open bet or any part of an open bet at any time within our Market Trading hours before the last trade time specified. To close an open bet you must place an opposite bet to the open bet. For instance, if you have opened a £5 Buy bet you must place a £5 Sell bet in the exact same market to close the bet. Where you have an open position in any binary product and you make an opposing trade in that product the opposing trade will always close the equivalent stake value of the existing bet. i.e. if you have bought £2 of daily FTSE UP then if you sell £1 of Daily FTSE up then this will always close £1 of the original bet. If your secondary opposing bet stake is larger than the existing open bet stake then the entire existing bet will be closed and the stake difference will create a new open bet.
7. If you have made an opening Buy bet and the closing price of your bet (the subsequent sell price) is higher than the opening price of your bet then we will credit your account with the difference between the two prices multiplied by your stake (bet) size. If the closing price of your bet is lower than the opening price of your bet then we will debit from your account the difference between the two prices multiplied by your Stake (bet).
8. If you have made an opening Sell bet and the closing price of your bet (the subsequent buy price) is lower than the opening price of your bet then we credit your account with the difference between the two prices multiplied by your stake (bet) size.  If the closing price of your bet is higher than the opening price of your bet then we will debit from your account the difference between the two prices multiplied by your Stake (bet).
9. The Expiry for each bet will be specified in the Rules for the market relating to that bet. London Capital Group has the final decision on all aspects of the settlement price of any market. All Binary Bets expire at either 100 (if the outcome of the market on expiry agrees with the premise of that market’s stated conditions) or at 0 (if the outcome of the market on expiry does not agree with the premise of that market’s stated conditions)
10. London Capital Group will expire all markets as soon as we have ascertained the official closing level of the bet.
11. If by the actions of your bets your account enters a negative cash position you will pay to us within 24 hours any funds due to us.
12. In the case of a One Touch bet, if the Outcome occurs at any time before Expiry, the bet will make up at 100. If, however, the Outcome does not occur before Expiry, the bet will make up at 0.
13. Settlement of bets on ‘cusp points’

Markets that are described as up or down on the day/hour/mid-day etc. If the market closes unchanged are defined as being UP.
Range markets.

For ranges closing up the settlement level is defined as the higher range in the case of a cusp settlement. For example a market that closes up exactly 10 is in the up 10-20 range not the up 0-10 range.

For ranges closing down the settlement level is defined as the lower range in the case of a cusp settlement For example a market that closes down exactly 10 is in the down 10-20 range not the down 0-10 range.

If the closing price is unchanged on a range market the settlement is defined as up 0-10 not down 0-10

5.0 Deposit Payments/Margin Calls

5.1 Deposits can be paid by telegraphic transfer or by approved debit or credit card, direct debit or any other method of immediate/electronic funds transfer acceptable to London Capital Group. Deposits may incur charges depending on the method you select. Deposits made by UK debit card or by cheque currently incur no charges. The charges imposed on us may change from time to time and you acknowledge that we may impose charges or revise existing charges to reflect such changes. Your bank may independently charge you for bank transfers.

Money paid to you by us will be paid using the same method of payment you used to deposit funds with us (e.g. where you deposit funds with us by debit card, we will credit payment to you back to that debit card).
We do not extend credit for the use of our services.
Interest is not payable on account credit balances London Capital Group reserves the right to charge interest on any debit balances. Such charge will be at base rate plus 4%.

You will fulfill all commitments made on your account in the event of any Binary Betting activity. You may subject to acceptance by London Capital Group give third party access to your account by the action of the formal signing of a Power of Attorney authorization. You are responsible for any activities of a duly authorized individual.

You agree that if any other person uses the Binary Betting Trading Platform or in any other way uses your account you will (subject to us taking reasonable precautions against fraud and computer hacking) be bound by such use as if it was your use, and you fully indemnify us in respect of any failure by such third party to fulfill any commitments made by such use.

 You agree that your use of the Binary Betting Trading Platform is solely at your own risk and you accept that the information contained on the Binary Betting Trading Platform may contain limitations as to its accuracy or availability.

7.2 We do not warrant in any event that the information that is accessible from the Website or any other delivery mechanism is accurate, complete, current or available for betting. The contents of the Website or any other delivery mechanism are provided on an ‘as available’ basis only without warranties, representation or undertakings of any kind.

7.3 It is your responsibility to maintain the confidentiality of your password and account number. We accept no liability resulting from the unauthorised use, whether fraudulent or otherwise, of your password and/or account number.

7.4 In no event will we accept any liability for any losses you may incur as a result of placing bets on our Binary Betting Trading Platform.

7.5 Under no circumstances will our liability under these terms and conditions or in any other instance exceed £1,000.

7.6 You acknowledge that the Binary Betting Offering is provided over an open network, the internet. While the internet is generally a reliable way to communicate, no electronic system is entirely reliable or always available. We are not liable to you for any loss or damage, howsoever caused, arising directly or indirectly out of a failure or delay for your instructions to reach us over the internet, or for our communications to reach you. Further, you acknowledge and accept that, while we take reasonable steps to avoid information transmitted between us being intercepted and read by third parties, by use of techniques such as encryption, it is not always possible to avoid someone other than you or us gaining access to information about you and your dealings with us.
These Terms do not limit or exclude any liability arising out of fraud or for death or injury arising by reason of our negligence.

8. Force Majeure
8.1 Exceptional / Unusual / Emergency Market Conditions (Force Majeure Event) may be deemed to have occurred if -
a)            an event which prevents London Capital Group from making orderly markets in any binary contract normally quoted by London Capital Group
b)            the event of excessive volatility, as reasonably assessed by London Capital Groupor of the anticipation by London Capital Group-that such a situation may occur
c)             any quoted exchange or underlying product on which  London Capital Group relies for its binary betting quotes is suspended or closed.
d)            any imposition or limitation on any market or product causes, as reasonably assessed by London Capital Group, a significant loss of liquidity in that market or product. (i.e. the suspension of a market)
e)            any act, event or occurrence including any strike, riot or civil commotion, terrorism, interruption of power supply or electronic communication or information system technical or communication problems or other act of god which results in a loss of power which prevents London Capital Group from providing a normal binary betting service.

8.2 If we conclude in our reasonable assessment that a Force Majeure Situation exists then we may in our absolute and sole discretion:

(a) suspend trading and/or amend our Market Trading Hours for all or any markets;

(b) close any or all open bets;

(c) refuse to take any further bets even if such bets would be closing bets;
(d) immediately require payment of Margin and/or any other amounts you may owe London Capital Group;

(e) cancel or fill any orders in each case at such levels as we consider in good faith and in our sole discretion to be fair and reasonable in the circumstances
(f) reduce the maximum stake size allowable

(g) vary (by this we mean widen) any spreads quoted by London Capital Group;
(h) suspend or amend the Terms if it is impossible or unreasonable for London Capital Group to conform to them;
(i) take all such actions as London Capital Group deem proper in the circumstances to defend our Clients and ourselves as a whole.

8.3 In the absence of fraud or bad faith, London Capital Group Ltd shall not be liable to you for any losses you may suffer by reason of any action it may take in accordance with Clause 8.
8.4 We will not be liable for any failure of a third party to perform. In particular, we reserve the right to declare null and void any bets that we may not be able to settle because of non-performance by a third party.

9.   Manifest Errors
9.1 An e-mail confirmation of a bet that does not accurately reflect the relevant market price at the time when the bet was made either over the telephone or via the Online Trading Platform does not entitle the Client to enforce whatever is inaccurately recorded in the contract note.

9.2 We reserve the right to void from the outset or to amend the terms of any bet containing or based upon a manifest error. A "Manifest Error" is any error that we reasonably believe to be obvious or palpable. In deciding whether an error is a Manifest Error, we may take into account any relevant information, including the state of any underlying market or event that is the subject matter of the bet at the time of the error. In making such a decision we will act reasonably and in good faith. London Capital Group’s decision shall be conclusive and binding upon you.

9.3 London Capital Group will be not be responsible for losses or potential losses sustained by you in trading on a rejected or cancelled bet. London Capital Group is in no way responsible or liable for losses made with other companies on bets taken in reference to a rejected or cancelled bet.

9.4 In the absence of fraud or bad faith, London Capital Group shall not be liable to you for any losses you may suffer by reason of any action it may take in accordance with any activity relating to a Manifest Error.

10.0  Personal Statements
10.1 Each time you make a bet you signify and agree that all statements concerning personal warranties and representations are repeated and that:
 
(a) all information that you have provided us with (in your Application Form and subsequently) is true and accurate in all material respects
(b) you have read and fully understood the Terms (including the Product Information Sheets)
(c) if you are an individual you are over 18 years of age
(d) you agree to be bound by the Terms
(e) the action of taking a bet with London Capital Group is legal in the Jurisdiction you are currently resident and that you will not violate any law or ordinance relevant to you
(f) you are taking each and every bet on your own behalf as principal and not as a third parties representative
(g) you warrant that you are not breaching any rule, regulation or law applicable to you;
(h) if you are a company that in placing any bet or instruction you are duly authorised to do so;
(j) that any person authorised by you to trade or issue instructions on your behalf has read and understood the Terms.

10.2 If any losses are incurred by you or by London Capital Group due to your breach of any warranty as set out herein you shall be liable for the total losses incurred on an indemnity basis.

11.1 We reserve the right at our absolute discretion to refuse, or decline to accept, any bet or transaction in respect of or in connection with your use of the Binary betting platform and you agree that we will not be liable to you in any way for any loss or damages that may result from any such refusal.
11.2 You acknowledge and agree that the bets that you place with us are fixed-odds bets. For the avoidance of any doubt, these bets are not "investments" and the offering of these bets does not constitute a regulated activity for the purposes of the Financial Services and Markets Act 2000.
11.3 Irrespective of whether we suspend or terminate an account and notwithstanding any other provision in this agreement, we may decide, at our absolute discretion, to cancel and void any bets

It is your responsibility to ensure that you understand and fully comply with any laws or regulations that are relevant to you in the country in which you are resident or from which you are making use of our services. The Website does not constitute, and may not be used for the purposes of, an offer or solicitation of 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 offer or solicitation.
We reserve the right to decline to open an account for you and/or to terminate your account for any reason

If any of the Terms shall be found to be unenforceable or invalid, such unenforceability or invalidity shall not affect any other part of the Terms  (or the remaining portion of the affected part as the case may be), which shall remain in full force and effect.

14. Assignment and entire agreement

You may not assign or transfer the Agreement in any way. You agree that the Agreement is the complete and exclusive agreement between you and us regarding your placing of any binary bet with us.

You agree that this Agreement will be treated as having been executed and performed in England and governed in all respects by and construed in accordance with the laws of England and Wales. The Contracts (Rights of Third Parties) Act 1999 does not apply to these terms and conditions.

16.  Dispute resolution In the event that a situation arises that is not covered by the Agreement or the Rules, we will resolve the matter on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice. In the event of a dispute arising our customer services staff will attempt to reach an agreed resolution.

17. Use of information

The privacy policy forms part of the terms and conditions.

You agree that we may revise the terms and conditions of the Terms and amend the ‘Rules’ at any time. Any such revision or change will be binding and effective immediately upon our amendment and without reference to you.
Once you have made any new bet after the amendment to the terms you will be deemed to have agreed to any such changes.

[return to top of page]