LIMITED POWER OF ATTORNEY
- The account holder (the “client”) has established a trading profile with us (the “Account” and “the company” respectively).
- The client (You) now wishes to appoint a trading agent (“Trading Agent” “The company”) to make a trading execution (including opening and closing of position whether in profit or in losses) on your behalf.
- The products which are to be traded are Oil and gas instruments (digital), agricultural commodities (digital), precious metals (digital), or any other products offered by the company now or in the future, whether digital or deliverable, with or without leverage.
- You, (the client) authorizes the opening of an account (by the “Trading Account”) under the name of Trading Agent or under your own name to be used specifically for the trading of your funds. The Trading Account is subject to terms and conditions which have been accepted and acknowledged separately by the You (the “Terms and Conditions”). Funds transferred into this account by You are solely owned by You.
- that you (the client) also agreed to have the trading agent (the company) move my fund to any of the brokers and liquidity providers with whom they do business, and that the same process can be performed when making a withdrawal.
- The client and Trading Agent wish the terms of that appointment to be evidenced and recorded by way of this power of attorney (“POA”). It is hereby agreed as follows:
- That you (the client) hereby authorise and appoint the trading agent (the company) as your lawful attorney to trade your account on your behalf, to the fullest extent permitted, subject to and in accordance with the trading agent's Terms and Conditions, and to perform all acts and things in connection therewith as the trading agent may deem necessary or desirable on your behalf (the client) in relation to the client's trading account.
- The trading contract is for a minimum of one year and is subject to automatic renewal if you (the client) do not provide a termination notification at the exact conclusion of the one-year contract.
- Without prejudice to the above, the client acknowledges and understands that, further to the Terms and Conditions, the broker (s), liquidity provider (s) is upon receipt of this TRADING ACCOUNT AUTHORIZATION, authorised to follow the instructions of the Trading Agent in every respect regarding the Trading Account.
- The Trading Agent may elect to use an automated trading system. The client is aware of the volume of trading and resulting commissions that such systems may generate and the impact that this will have on the performance of the Trading Account.
- That you (the client) accept the risks associated with the use of computers and data feed systems, which may include, but are not limited to, hardware, software, or communication lines or systems failure and/or inaccurate external data feeds provided by third-party vendors, and that you (the client) agree to hold the trading agent harmless from any losses in the account associated with these risks.
- In exchange for the Trading Agent's services, the client agrees to pay the Trading Agent the fees and expenses set forth in the Schedule hereto and, in accordance with the Terms and Conditions, authorises both the Broker and the Trading Agent to debit your Trading Account and pay such fees and expenses to the Trading Agent on the client's behalf.
- The client agrees to indemnify and hold harmless the trading agent (the company) or any broker used to connect your trading account, its employees, agents, affiliates, successors, assigns, and affiliates, from and against all liabilities, losses, damages, costs, and expenses, including attorney's fees, arising directly or indirectly from the trading agent's trading of the account, including, without limitation, all actions, instructions, or omissions.
- The client (You) agrees that any Trading Agent-related expenses, indebtedness, and liabilities are the client's responsibility and authorises the Broker and the Trading Agent to debit any balance(s) owed on such costs, indebtedness, and liabilities from the Trading Account.
- The customer acknowledges that the broker and trading agent have neither solicited nor otherwise recommended his/her/their involvement in trading with any broker in accordance with any trading method. The client has made adequate enquiries and investigation to make an informed investment decision.
- Any broker or trading exchange used by the trading agent will not be held liable in any way for any acts taken or not taken by the trading agent, or for any losses, charges, or expenses incurred by the trader or any other third party because of the trading agent's conduct. The trading agent is not an employee or agent of any broker, and the broker does not vouch for or promote the trading agent's services.
- The client acknowledges that the risk factor in trading financial products, commodities, oil and gas instrument and/or CFDs futures, leveraged or non-leveraged products, etc. is significantly high, and that she/he/they should not participate in trades through any broker, trading agent, or otherwise if the client does not have capital, he/she/they can afford to lose.
- The client acknowledges that the trading Agent cannot and does not guarantee profits or avoid the risk of loss or, under some circumstances, even limit the extent of the potential loss to the Account, whether through a Trading execution or otherwise.
- The Client further confirms that she/he/they understands the potential losses embodied in the trading activities and that the only certainty is that the trading contemplated with the Trading Account possesses a high degree of risk.
- Despite the fact that You (the client) are hereby granting Trading Agent trading authority and a power of attorney, including without limitation, access to Trading Account records and statements, the client acknowledges that the Account remains his/her/their sole responsibility and agrees to closely monitor all activity in the Trading Account.
- The client acknowledges and understands that financial product and/or CFD, futures, options trading through a Trading, is very risky and may result in losses that equal to or exceed the amount of margin deposited. That You (The client) has read and is familiar with the Brokers’ and the Trading Agent Risk Disclosure Statement that contains some of the risks involved in commodities trading, and/or CFD, Futures, and financial product trading.
- This POA may be revoked by notice in writing from one party to the other after one year. Both the client and the Trading Agent acknowledge, however, that such revocation shall not take effect, and the Broker shall not be bound by such revocation until the broker has been notified of such revocation by notice (the "Revocation Notice") and written confirmation has been issued by the broker to the Trader and the Trading Agent confirming that the Revocation Notice has been received and duly processed (the "Revocation Confirmation").
- The Revocation Notice shall not affect any obligation or liability arising, whether directly or indirectly, from any transactions initiated before the Revocation Confirmation.
- The Broker shall not be under any obligation to make any inquiries as to the capacity or authority of the Trading Agent or in the case of a Trading Agent that is a body corporate, the capacity or authority of any person acting on behalf of that Trading Agent, in relation to the Trading Account.
- The Broker shall not be under any obligation to make any inquiries as to whether this POA has been revoked, and all acts hereunder shall be valid and binding on the client unless express notice of revocation of this POA shall have been received and acknowledged in writing by the Broker pursuant to Clause 16 of this POA.
- The client and Trading Agent agree that they shall furnish this POA and schedule to the Broker upon execution. Trader acknowledges that, in accordance with the Terms and Conditions, the Broker is hereby authorized to debit the Trading Account(s) in accordance with the schedule attached to this POA. The client and the Trading Agent acknowledge that fees are a matter between them, and the Broker shall not be liable for any miscalculation on the said fees, and the client hereby agrees to frequently and closely scrutinize all activity in the Trading Account.
- The client hereby undertakes to ratify everything which the Trading Agent shall do or purport to do by virtue of this authorization and Power of Attorney.
- The powers of the Trading Agent set out in this POA shall not be restrictively construed but the widest interpretation shall be given thereto.
- This POA shall be governed in accordance with the governing law and jurisdiction as stipulated in the Terms and Conditions applicable to the accounts of both the client and Trading Agent
Schedule of Fees
This schedule sets forth the agreed basis under which the client shall recompense the Trading Agent. The client and Trading Agent agree that upon receipt of this POA and schedule, The trading Agent and the Broker are authorized to make the deductions set out below from the Trading Account. The Broker will not be liable in any way for any actions taken or failed to be taken by the Trading Agent, or for any losses, costs, or expenses incurred by the client or any other third party because of the Trading Agent’s actions. The Trading Agent is not an employee or agent of the Broker, and the Broker does not vouch or endorse the services provided by the Trading Agent.
The undersigned client hereby authorizes the Broker to deduct the Trading Account(s) and pay the Trading Agent the following fees: (Mark as appropriate) For the purpose of this schedule, Period shall mean the period from the opening of business of the first day of each month until the close of business of the last day of each month, or at the end of every close trade, either daily, weekly, or Monthly. The amount calculated shall be debited from the Trader’s account(s) during the next Period. The % of the amount generated from one Period to the next, based upon the net equity positions at the end of each Period minus the highest net equity position reached since the opening of the account, excluding day to day administrative adjustments to the Trading Account, deposits, withdrawals, rollover, and premiums. Should this amount be negative, no amount is due to the Trading agent. If the trading agent trades for a minimum of three months on profitable transactions without the client initiating any withdrawals, you (the client) authorise the broker or the trading agent (the company) to deduct or debit your trading account to pay the trading agent's (the company's) trading commission and charges.
Fee: The Trader hereby authorizes the Broker to deduct and pay the Trading Agent a FIXED Monthly Management fee of (insert amount and currency) The Trader hereby authorizes the broker to deduct and pay the Trading Agent a Monthly Management fee based on % of the trader’s equity. Proceeding to do business with us implies that you have acknowledged and agreed to this power of attorney. If you do not, please leave this site immediately.