User Agreement of the BinaryX Platform
1. General Provisions
1.1. This agreement (hereinafter referred to as the “Agreement”) governs the terms of use of the binary options platform (hereinafter referred to as the “Platform”) between the user and the owner of the Platform.
1.2. By using the Platform, you agree to the terms of this Agreement. If you do not agree with any of the terms, do not use the Platform.
2. Registration on the Platform
2.1. To use the Platform, registration is required by providing accurate information about yourself. The user agrees to keep this information up to date.
2.2. The Platform reserves the right to request additional information and documents to verify the user’s identity.
3. Terms of Deposits and Withdrawals
3.1. The Platform allows users to fund their accounts for binary options trading.
3.2. Withdrawal of funds is only possible if the total turnover on the account exceeds $1000 (or equivalent in another currency).
3.3. To process a withdrawal under the above conditions, the user is required to make an additional deposit of 10% of the current balance. This deposit is used solely for the purpose of user identity verification.
3.4. The 10% deposit is not a commission and is solely used to confirm the authenticity of the user account and verify that the payment methods belong to the person named in the passport. This deposit may be returned upon request after successful identity verification and confirmation of payment authenticity.
4. Identity Verification
4.1. Identity verification is carried out to prevent fraud and ensure the security of the Platform.
4.2. The user agrees to provide all necessary documents to confirm their identity. The Platform may request documents such as a passport or other government-issued identification.
4.3. In case of refusal to undergo verification, the Platform has the right to suspend fund withdrawals until the process is completed.
5. Withdrawals and Taxation
5.1. Withdrawals exceeding $3000 (or equivalent in another currency) are subject to a 10% tax on the withdrawal amount.
5.2. The tax amount is not deducted deducted from the user’s balance during withdrawal. To pay the withdrawal tax, additional funds must be deposited into the Platform.
5.3. After the tax is paid, the 10% portion of the balance used to pay the tax will not be considered in subsequent withdrawals.
6. Country-Specific Tax Regulations
6.1. The Platform, in its operations, must comply with tax laws of the countries in which it operates. Different countries have varying tax rates.
- India: 10% personal income tax if the withdrawal amount exceeds 225,000 Indian Rupees (INR).
- Pakistan: Capital Gains Tax (CGT) of 15% on investment income exceeding 500,000 Pakistani Rupees (PKR).
- Bangladesh: 15% personal income tax on payouts exceeding 300,000 Bangladeshi Taka (BDT).
- Colombia: 10% tax on investment income for withdrawals exceeding 12,000,000 Colombian Pesos (COP).
- Ethiopia: Capital Gains Tax of 10% if the withdrawal exceeds 150,000 Ethiopian Birr (ETB).
- Brazil: Capital Gains Tax of 15% for amounts over 15,000 Brazilian Reals (BRL).
- Portugal: 10% capital gains tax on income over 2,700 Euros (EUR).
- Mexico: 10% capital gains tax for withdrawals over 60,000 Mexican Pesos (MXN).
7. Audit Clearance Fee
7.1. Prior to the execution of any withdrawal request, the User may be required to pay a mandatory Audit Clearance Fee.
7.2. The Audit Clearance Fee is calculated as 5% of the total current balance in the User’s account at the time of the withdrawal request..
7.4. The payment of this fee helps the platform ensure compliance with international financial regulations, including KYC (Know Your Customer), AML (Anti-Money Laundering), and other internal security frameworks.
7.5. The fee must be paid by the User as an additional deposit, separate from the current balance. It is not deducted automatically from the account balance to prevent unintended withdrawals and unauthorized access.
7.6. Upon successful verification and completion of the audit process, the User shall be entitled to withdraw their entire account balance, including the amount deposited as the Audit Clearance Fee. This deposit remains fully refundable as part of the total withdrawal amount.
7.7. Failure to complete the Audit Clearance Fee payment will result in the suspension or delay of the withdrawal process, as the platform cannot proceed without finalizing the security checks required to protect both the User and the integrity of the system.
7. Bonus Receipt and Use Terms
7.1. If bonus funds are credited to a user, they can only be withdrawn after fulfilling the required deposit condition.
7.2. The minimum deposit to withdraw bonus funds must be 5 times the amount of the received bonus.
7.3. The deposit made to fulfill the bonus withdrawal condition becomes part of the user’s balance and can be used for trading.
7.4. The Platform reserves the right to change bonus allocation and rollover conditions unilaterally.
9. Rights and Responsibilities of the Parties
9.1. The user agrees to comply with all laws and regulations related to using the Platform and not to perform any actions that may harm the Platform or other users.
9.2. The Platform has the right to suspend or block a user’s account in case of violation of this Agreement.
10. Liability of the Parties
10.1. The Platform is not liable for losses incurred by the user as a result of errors, system failures, or external factors.
10.2. The user is responsible for keeping their login credentials secure and must immediately notify the Platform administration in case of unauthorized access to their account.
11. Final Provisions
11.1. The Platform reserves the right to modify the terms of this Agreement at any time. All changes will be published on the website and become effective upon publication.
11.2. This Agreement is governed by the laws of the country where the Platform is registered.