Terms of use

1. Who you are dealing with

OmniMarkets is operated by [legal entity name, company number, registered address], referred to below as “we” and “us”. You can reach us at support@omnimarkets.app.

Our regulatory status is [regulator, licence number, and the activities it covers]. This matters to you: it determines what protection you have if we fail, and you are entitled to know it before you send us money.

2. Opening an account

You must be old enough to enter a contract where you live, and the account must be yours. One person, one account, in your own name. Not a nominee for somebody else and not shared.

You are responsible for your password and for anything done by somebody signed in as you. Tell us immediately if you think that has happened. We will never ask you for your password, and we cannot see it: it is stored only as a one-way hash.

We may suspend an account where we reasonably believe it is being used fraudulently, where we are required to, or where continuing would break the law. Where we suspend an account we will tell you, and a suspension does not take your money: your balance and holdings remain yours.

3. Money you send us

Money you add is credited to a wallet in the currency you sent it in and is held for you. It stays your money. It is recorded in a double-entry ledger, and every movement in your account has an entry behind it that you can see under Activity.

How your money is held and whether it is separated from ours is [client-money arrangement: which bank, segregated or not, what protection applies].

Deposits reach us by card, mobile money, bank transfer and other methods, depending on where you are. Some are confirmed by the payment provider within seconds; a direct bank transfer is matched by a person against our bank statement, which usually takes up to one working day. Nothing is credited to your wallet until it has actually arrived. If less arrives than you told us to expect, we credit what arrived and show you the difference.

We do not pay interest on cash held in your wallet unless we say so explicitly.

Taking money out is the one thing we ask you to prove something for. Before a withdrawal we have to know that the email address on your account reaches you, and who you are — the first by following a link we send you, the second by photographing a government document. Both are one-time steps and neither applies to adding money, to buying or selling, or to holding what you already own. Until they are done a withdrawal will be refused and the money stays in your wallet, where it is still yours.

We may also require that an account has been used before money leaves it: a number of trades made on it, and a number of days passed since its most recent deposit. The days are counted again from each deposit you make, so adding money starts the wait over and nothing in the account can be withdrawn until it has passed, including money you paid in earlier; where a wait applies, the deposit form tells you so, with the date, before you pay. Trades are counted over the life of your account and a deposit does not reset them. A deposit bonus, a withdrawal returned to you because it could not be delivered, and an adjustment we make to your balance do not start the wait over. Where we set either requirement, both figures and where your account stands against them are shown to you before you begin a withdrawal, and again in the refusal if you ask for one anyway. Nothing is taken and nothing leaves your wallet while either is outstanding — the money is still yours, and you can go on converting it and trading with it in the meantime.

4. Buying and selling

When you place an order you are instructing us to buy or sell on your behalf. We are not the other side of your trade and we do not take a position against you.

• A market order is filled at the price available when it is executed, which may differ from the price shown when you placed it.
• A limit order is filled only at your price or better, and may never be filled at all. It expires if it has not been filled by the time you set.
• Orders can only be placed while the relevant market is open. Where trading is suspended (by us, by the exchange, or by a regulator), resting orders do not fill and do not expire until it resumes.
• Fractional holdings are held for you as a proportion of a whole share. They carry economic rights, including dividends, in proportion. Rights that cannot be divided, such as voting, may not be available on a fraction.

We may refuse or reverse an order that was executed at a clearly erroneous price, or where a market itself cancels a trade. Where we do, we will explain why and put your account back where it would have been.

5. What it costs

We charge nothing to open an account, to add money, or to hold cash or shares.

Buying and selling carries the costs of the market you are dealing on, and they differ by market rather than being one number we set. A Nairobi trade carries a brokerage commission and four separate statutory levies. A New York trade carries no commission, but a sale carries two regulatory fees. Every one of these is itemised, with the basis for each figure, on the confirmation screen before you commit, not summarised into a single line afterwards.

Converting between currencies is done at a rate that includes a margin over the mid-market rate. The rate you will get is shown before you confirm the conversion, and the margin is published under Settings.

Where we offer a bonus on a deposit, the amount and the conditions are stated at the time. A bonus is credited as money paid in rather than as a return you have made, and it is shown that way in your records.

6. Risk, and the absence of advice

The value of investments can fall as well as rise, and you may get back less than you put in. Past performance tells you nothing reliable about future returns. Holding an investment priced in another currency adds the risk that the exchange rate moves against you, which can lose you money even where the investment itself has risen.

Nothing on OmniMarkets is personal advice or a recommendation. Collections, leaderboards, educational material and anything else we publish are information, not a suggestion that something is suitable for you. We do not assess whether an investment suits your circumstances. If you want advice, ask somebody qualified to give it.

7. Prices and information

Prices, charts and market information are provided for your information. They may be delayed, and they may be wrong. We take reasonable care but do not warrant that any figure shown is accurate, complete or current, and you should not treat a number on a screen as a guarantee of the price you will get.

The valuation of your portfolio is an estimate based on the most recent prices we hold. What you actually receive on a sale is what the market pays at the time.

8. Availability

We aim to keep OmniMarkets available but we do not guarantee it. Maintenance, failures at a market, at a payment provider or in our own systems can all interrupt access. Where we can foresee an interruption we will tell you. We are not liable for a loss caused by an interruption we could not reasonably have prevented, but nothing in this paragraph limits our liability where the loss was caused by our own failure to take reasonable care.

9. Closing your account

You can close your account at any time. Sell or transfer your holdings, withdraw your cash, and write to us. Withdrawing is subject to the conditions described in section 3. Once they are satisfied we will not hold money you have asked to withdraw.

We may close your account by giving you reasonable notice. Where we do, you keep everything in it and we will help you move or realise it. We will only close an account without notice where we are required to, or where it is being used unlawfully.

Records of your transactions are kept after closure for as long as the law requires. See the privacy notice.

10. Our responsibility to you

We are responsible for loss you suffer that is a foreseeable result of our breaking this agreement or failing to use reasonable care. We are not responsible for loss that was not foreseeable, for the investment performance of anything you choose to buy, or for a decision you made on information we published for general use.

We do not exclude or limit our liability where it would be unlawful to do so, which includes liability for death or personal injury caused by our negligence, and for fraud.

11. Changes to these terms

We may change these terms. Where a change is to your disadvantage we will tell you in advance and give you time to close your account if you do not accept it. The date at the top of this page is when it was last changed.

12. If something goes wrong

Write to support@omnimarkets.app. Tell us what happened and what you would like us to do. We will acknowledge your complaint and tell you who is dealing with it.

If you are not satisfied with our answer, you may be able to take it further to [ombudsman or dispute-resolution scheme, and how to reach it].

13. Law and jurisdiction

This agreement is governed by the law of [jurisdiction], and the courts of [jurisdiction] have jurisdiction over any dispute. This does not take away any right you have to bring a claim where you live.