Customer Agreement
In
consideration of Investtechfx Technologies Inc. or any of its subiaries
or affiliates (individually or collectively Investtechfx) agreeing to
carry one or more accounts of, and providing services to, the
undersigned ("Customer") in connection with the purchase and
sale of cash currencies (including financial instruments), gold and
silver bullion and forward or leverage or CFDs or option contracts and
any similar instruments (collectively referred to as "Currency
Forex & CFDs") which may be purchased or sold by or through
INVESTTECHFX for Customer's account(s). This Customer Agreement ("Agreement")
is a contract between you and InvestTechFX Technologies Inc. (“InvestTechFX”) and applies
to your use of our products and services and any other features, technologies and/or functionalities
offered by us on our website and/or through any other means (the “InvestTechFX Services”). You must
read, agree with and accept all of the terms and conditions contained in this Agreement. In addition,
you must read, agree with and accept the Risk Disclosure, Electronic Trading Agreement and InvestTechFX
Disclaimer agreements on the Disclaimers page. We may amend this Agreement at any time by posting a
revised version on our website. The revised version will be effective at the time we post it. In addition,
if the revised version includes a change that significantly reduces your rights or increases your
responsibilities (a “Substantial Change”), we will provide you with 30 Days' prior notice of any Substantial
Change by posting notice on the "Policy Updates" page of our website. This is an important document which you
must consider carefully when choosing whether to use the InvestTechFX Services. This Agreement also highlights
certain risks of using the InvestTechFX Services, Customer agrees as follows:
1.
AUTHORIZATION TO TRADE. INVESTTECHFX is authorized to purchase and sell
Currency Forex & CFDs for Customer's account(s)with a counterparts
bank(s), sophisticated institution(s), or registered (if required)
participant(s) including but not limited to INVESTTECHFX, in accordance
with Customer's oral, electronic or written instructions. Unless
instructed by Customer to the contrary in writing, INVESTTECHFX is
authorized to execute all orders with such counterparts banks,
sophisticated institutions registered participants or INVESTTECHFX
itself, as INVESTTECHFX deems appropriate.
2.a
GOVERNMENTAL, COUNTERPARTY INSTITUTION AND INTERBANK SYSTEM RULES
All transactions under this Agreement shall he subject to the
constitution, by-laws, rules, regulations, customs, usage, rulings
agreements and interpretations of the counterparty institution or other
interbank market (or its clearing organization, if any) where executed
and to all applicable laws and regulations. If any statute shall
hereafter be enacted or any rule or regulation shall hereafter be
adopted by any governmental authority, contract market or clearing
organization to which INVESTTECHFX shall be subject and which affects in
any manner or is inconsistent with any of the provisions hereof, the
affected provisions of this Agreement shall be deemed modified or
superseded. As the case may be, by the applicable provisions of such
statute, rule or regulation and all other provisions of this Agreement
and provisos so modified shall in all respects continue in full force
and effect. Customer acknowledges that all transactions under this
Agreement are subject to the aforementioned regulatory requirements and
Customer shall not thereby be given any independent legal or contractual
rights with respect to such requirements.
2.b
Customer Identification Program (CIP) and Anti-money laundering (AML)
Policies and Procedures: It is the Customer’s duty to submit by scanned
email/fax one valid form of government issued ID or Passport, along with
Bank Statement and/or Utility Bill proving residence, within three business
days of real trading account becoming activated. According to regulations
implemented in 2003 by the USA Patriot Act, all financial institutions must
verify the identity of individuals wishing to conduct financial transactions
through a custom Customer Identification Program (CIP) appropriate to the
size and type of its business. Investtechfx’s due diligence requires the
hereto forth mentioned ID and Utility Bill in order to abide by our CIP as
well as to adhere to the guidelines for Anti-money laundering (AML) set forth
by the Bank Secrecy Act and USA Patriot Act. 3.
MARGINS AND DEPOSIT REQUIREMENTS. Customer shall provide to and maintain
with INVESTTECHFX margin in such amounts and in such forms as
INVESTTECHFX, in its sole discretion, may from time to time require.
Such margin requirements may exceed margins required by a counterpart's
bank or institution. INVESTTECHFX may change margin requirements at any
time Customer agrees to deposit by immediate wire transfer such
additional margin when and as required by INVESTTECHFX, and will
promptly meet all margin calls in such mode of transmission as
INVESTTECHFX in its sole discretion shall designate; provided, however,
that notwithstanding any demand for additional margin, INVESTTECHFX may
at the same or any time proceed to liquidate Customer's account in
accordance with paragraph 7 of this Agreement and any failure by
INVESTTECHFX to enforce its rights hereunder shall not be deemed a
waiver by INVESTTECHFX to enforce its rights thereafter No previous
margin requirement of INVESTTECHFX shall preclude INVESTTECHFX from
increasing that requirement without prior notice. INVESTTECHFX retains
the right to limit the number of open positions which Customer may
acquire or maintain at INVESTTECHFX. INVESTTECHFX will attempt to
execute all orders which it may, in its sole discretion, choose to
accept for the purchase or sale of Currency Forex & CFDs or other
property in accordance with the oral, electronic or written instructions
of Customer. All customer funds are automatically
transferred to the Liquidity Provider to facilitate full leverage for trading
activities. INVESTTECHFX shall not be responsible for any loss or
damage caused. directly or indirectly, by any events, actions or
omissions beyond the control of INVESTTECHFX including, without any
limitation, loss or damage resulting, directly or indirectly, from any
delays or inaccuracies in the transmission of orders and/or information
due to a breakdown in or failure of any transmission or communication
facilities, irrespective of whether any such facilities are owned or
provided by INVESTTECHFX. 4.
SETTLEMENT DATES AND ROLLOVERS. With respect to purchases or sales of
Currency Forex & CFDs through a Currency Forex & CFDs account,
Customer agrees to instruct INVESTTECHFX as to the offset or rollover of
a Currency Forex & CFDs position Except as provided herein, while
Currency Forex & CFDs position is open, Customer shall give
INVESTTECHFX instructions for rolling the Currency Forex & CFDs
position no later than one (1) business day prior to the settlement,
prompt or value day for the Currency Forex & CFDs contract if
Customer intends to roll over a Currency Forex & CFDs position. In
addition, Customer, by noon of the second (am) business day before the
settlement, prompt or value day of the Currency Forex & CFDs
contract position, shall instruct INVESTTECHFX whether to deliver,
offset or rollover the Currency Forex & CFDs position. In the
absence of receipt and possession by INVESTTECHFX of timely
instructions, funds or documents from Customer, INVESTTECHFX is
authorized, at INVESTTECHFX's absolute discretion and without notice, to
deliver, roll over or offset all or any portion of the Currency Forex
& CFDs positions in the Customer's Currency account(s) and at
Customer's sole risk upon such terms and by such methods as INVESTTECHFX
reasonably deems appropriate Notwithstanding INVESTTECHFX, in its sole
discretion, may limit Currency Forex & CFDs amounts, if any, which
may be delivered, and INVESTTECHFX may, therefore, require offset or
roll over of Currency Forex & CFDs. Customer's Account(s) may be
charged separate commissions or other transaction charges, at
INVESTTECHFX's rates in effect from time to time, upon the rollover or
offset of a Currency Forex & CFDs position. 5.
COLLATERAL AND LENDING AGREEMENT. All funds, securities, commodities,
Currency Forex, Indexes & CFDs contracts, and other property of
Customer which INVESTTECHFX or its affiliates may at any time be
carrying for Customer (either individually, jointly with others, or as a
guarantor of the account of any other person), or which may at any time
be in its possession or control or carried on its books for any purpose,
including safekeeping, are to be held by INVESTTECHFX as security and
subject to a general lien and right of set off for liabilities of
Customer to INVESTTECHFX whether or not Investtechfx has made advances
in connection with such securities, Indexes, CFDs, Currency Forex &
CFDs or other property, and irrespective of the number of accounts
Customer may have with INVESTTECHFX. INVESTTECHFX may in its sole
discretion at any time and from time to time, without notice to
Customer, apply and/or transfer any or all funds or other property of
Customer between any of Customer's accounts Customer hereby also grants
to INVESTTECHFX the right, and authorizes INVESTTECHFX, to pledge,
re-pledge, hypothecate, re-hypothecate, invest or loan, either
separately or with the property of other Customers, to itself as broker
or to others, any funds, securities or other property of Customer held
by INVESTTECHFX as margin or security. INVESTTECHFX shall at no time be
required to deliver to Customer the identical property delivered to or
purchased by INVESTTECHFX for any account of Customer. The foregoing
rights of INVESTTECHFX are subject to the requirements, if applicable,
for the segregation of Customer funds and property by law. The purpose
of the lending agreement in paragraph 32 of this Agreement
("Lending Agreement") is to allow INVESTTECHFX to use
depository receipts (representing delivery) as collateral. Should
Customer take delivery of currencies through settlement of Currency
Forex & CFDs contracts, INVESTTECHFX is obliged to make full payment
for the delivery on 72 hours notice. If the balance in the Customer's
account is not adequate to pay for the delivery, the depository receipts
become property carried on margin in the Customer's account since they
are not fully paid for by Customer. The Lending Agreement allows
INVESTTECHFX to use the depository receipt as collateral for a bank
loan, the proceeds of which will be used to pay for the depository
receipts until rollover of the Currency Forex & CFDs and/or payment
in full by Customer Should Customer intend to take delivery of the
Currency Forex & CFDs covered by any other obligation, the Lending
Agreement in paragraph 32 of this Agreement expressly authorizes
INVESTTECHFX to use the Currency Forex & CFDs, property, depository
receipts or evidence of ownership thereof, as collateral for a bank
loan, the proceeds of which may be used to pay for the Currency Forex
& CFDs or evidence of ownership thereof, until payment in full,
including interest, by Customer. This authorization and Lending
Agreement shall apply to all accounts carried by INVESTTECHFX for
Customer and shall remain in full force until all accounts are fully
paid for by Customer or notice of revocation is sent by INVESTTECHFX
from its main office. 6.
ELECTRONIC TRADING. INVESTTECHFX may in its direction make available to
Customer an electronic trading system for trading Currency Forex &
CFDs (the System) under the terms and conditions stated in this
Agreement. Customer understands that the System may be accessed through
the Internet. Some of the information available on the System may be
produced by INVESTTECHFX and some may be provided by various independent
sources ("information Providers"). Customer acknowledges that
the accuracy, completeness, timeliness, and correct sequencing of the
information concerning Customer's trading and account activity, the
quotes, market and trading news, charts, trading analysis and
strategies, and other information that may be added from time to time
(collectively referred to as the "Information"), is not
guaranteed by INVESTTECHFX or the Information Providers. Customer agrees
that neither INVESTTECHFX nor the information Providers shall have any
liability for the accuracy, completeness, timeliness or correct
sequencing of the information or for any decision made or action taken
by Customer in reliance upon the information or the System, or for any
interruption of any Information provided by the System, or for any
aspect Of the System. See paragraph 21 of this Agreement for specific
provisions concerning possible errors in prices. All
orders that Customer initiates are Customer's responsibility if Customer
does not receive affirmative notification that the order has been either
accepted or rejected for placement, it is Customer's responsibility to
notify INVESTTECHFX immediately Customer shall be responsible for
monitoring all the Customer's orders until execution is confirmed or
cancellation is acknowledged by INVESTTECHFX Customer must cause any
notification from INVESTTECHFX to be printed and retained as hard copy
evidence of the same. Customer
understands that technical problems or other conditions may delay or
prevent Customer from entering or canceling an order on the System, or
likewise may delay or prevent an order transmitted through the System
from being executed. INVESTTECHFX shall not be liable for, and Customer
agrees not to hold or seek to hold INVESTTECHFX liable for, any
technical problems, System failures and malfunctions, System access
issues, System capacity issues, high Internet traffic demand, security
breaches and unauthorized access and other similar computer problems and
defects. INVESTTECHFX does not represent, warrant or guarantee that
Customer will be able to access or use the System at times or locations
of Customer's choosing, or that INVESTTECHFX will have adequate capacity
for the System as a whole or in any geographic location. INVESTTECHFX
does not represent, warrant or guarantee that the System will provide
uninterrupted and error free service. INVESTTECHFX does not make any,
warranties or guarantees express or implied, with respect to the System
or its content, including without limitation, warranties of
merchantability or fitness for a particular purpose. INVESTTECHFX shall
not be liable to Customer for any loss, cost, damage or other injury,
whether in contract or tort, arising out of or caused in whole or in
part by Customer's use of, or reliance on the System or its content. In
no event will INVESTTECHFX be liable to Customer or any third party for
any punitive, consequential, special, or similar damages even if advised
of the possibility of such damage. In some jurisdictions, the liability
of INVESTTECHFX shall be limited in accordance with this Agreement to
the extent permitted by law. INVESTTECHFX reserves the right to suspend
service and deny access to the System without prior notice during
scheduled System maintenance or upgrading. Customer
acknowledges that all orders placed through the System are at Customer's
sole risk. Customer further acknowledges that INVESTTECHFX may set
minimum equity requirements and /or limits as to the maximum number of
allowable contracts or amounts of Currency for such orders. Acceptance
of an order for placement does not constitute an agreement or
representation by INVESTTECHFX that there is sufficient margin in
Customer's account to support the resulting position. Customer hereby
acknowledges Customer's responsibility to keep apprised of current
margin requirements in connection with all Currency Forex & CFDs
activities, agrees to post all required margin for trades ordered by
Customer, and agrees to be liable for the losses incurred on all trades
ordered by Customer, regardless of whether there is sufficient margin
posted when the trade is ordered. INVESTTECHFX may refuse to accept any
order transmitted or attempted to be transmitted through the System for
any reason, including Customer's failure to post adequate margin.
INVESTTECHFX is not responsible for any delay or failure to provide the
System, or for any failure or inability to execute any order in the
event that there is a restriction on Customer's account or that Customer
fails to make a margin deposit. INVESTTECHFX reserves the right to
report acceptance, rejection, and execution of Customer's
orders by available display electronically or by email and/or telephone,
as determined in the sole discretion of INVESTTECHFX The
information provided by the information Providers is the property of the
information Providers or others and may be protected by copyright.
Customer agrees not to reproduce, retransmit, disseminate, sell or
distribute the information in any manner without express written consent
Of INVESTTECHFX and the relevant information Provider(s); and not to use
the information for any unlawful purpose. Upon
approval of Customer's access to the System, INVESTTECHFX may provide
Customer with one or more individual password(s) and user
identification(s) and/or an access card, key or other physical device
("Access Materials"). The Access Materials will enable
Customer to access the System and transmit "buy' and "sell
orders through the System Customer shall maintain the confidentiality,
and prevent the unauthorized use of, the Access Materials at all times.
Customer accepts full responsibility for the use and protection of the
Access Materials, which includes, but is not limited to, all orders
entered using the Access Materials. Customer accepts full responsibility
for monitoring Customer's Account. Should Customer become aware of any
deliberate or inadvertent disclosure, loss, theft or unauthorized use of
Customers Access Materials, Customer shall notify INVESTTECHFX
immediately. Customer will not access, or attempt to access the System
using the Access Materials of any other person. Any and all materials
INVESTTECHFX provides to Customers in connection with the System are the
property Of INVESTTECHFX and are intended for Customer's sole or
individual use. Customer shall not permit access to the System to others
and agrees not to copy any such materials for resale to others. Customer
further agrees not to delete any copyright notices or other indications
of protected intellectual property rights from materials that Customer
prints or downloads from the System. All such materials are provided
"AS IS, without any warranty of any kind, whether express or
implied, including warranties of merchantability, fitness for a
particular purpose, non-infringement or title. Customer
agrees that use of the System is at Customer s own risk. Customer shall
be responsible for providing and maintaining the means by which to
access the System, which may include without limitation a personal
computer, modem and telephone or high speed or other access line.
Customer shall be responsible for all access and service fees necessary
to connect to the System and is responsible for all charges incurred in
accessing the System Customer further assumes all risks associated with
the use and storage of information on Customer's personal computer or
similar device. INVESTTECHFX
reserves the right to terminate Customer's access to the System in its
sole discretion, without notice and without limitation, for any reason
whatsoever, including but not limited to the unauthorized use of
Customer's Access Materials or breach of this Agreement. All
express or implied conditions, warranties or undertakings, whether oral
or in writing, in law or in fact, including warranties as to
satisfactory quality and fitness for a particular purpose regarding the
information or any aspect of the System (including but not limited to
information access and order execution) are excluded to the extent
permitted by law. 7.
LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of
(a) the death or judicial declaration of incompetence of Customer; (b)
the filing of a petition in bankruptcy, or a petition for the
appointment of a receiver, or the institution of any insolvency or
similar proceeding by or against Customer; (c) the filing of an
attachment against any of Customer's accounts carried by INVESTTECHFX;
(d) insufficient margin, or INVESTTECHFX's determination, in its sole
discretion, that any collateral deposited to protect one or more
accounts of Customer is inadequate, regardless of current market
quotations, to secure the account; (e) Customer's failure to provide
INVESTTECHFX any information requested under this Agreement, or (f) any
other circumstances or developments that INVESTTECHFX deems appropriate
for its protection, and in INVESTTECHFX's sole discretion, INVESTTECHFX
may take one or more, or any portion of, the following actions: (1)
satisfy any obligation Customer may have to INVESTTECHFX either directly
or by way of guaranty of suretyship, out of any of Customer's funds or
property in its custody or control; (2) sell any or purchase any or all
Currency Forex & CFDs contracts, positions, securities or other
property held or carried for Customer, and (3) cancel any or all
outstanding orders or contracts, or any other commitments made on behalf
of Customer Any of the above actions may be taken without demand for
margin or additional margin, without prior notice of sale or purchase or
other notice to Customer, Customer's personal representatives, heirs,
executors, administrators, trustees, legatees, successors or assigns and
regardless of whether the ownership interest shall be solely Customer's
or held jointly with others. In liquidation of Customer's long or short
positions, INVESTTECHFX may, in its sole discretion, offset in the same
settlement or it may initiate new long or short positions in order to
establish a spread or straddle which in INVESTTECHFX s sole judgment may
be advisable to protect or reduce existing positions in Customer's
account. Any sales or purchases hereunder may be made according to
INVESTTECHFX's judgment and at its discretion with any interbank or
other market where such business is. then usually transacted or at a
public auction or private sale, and INVESTTECHFX may purchase the whole
or any part thereof free from any right of redemption Customer shall at
all times be liable for the payment of any deficit balance of Customer
upon demand by INVESTTECHFX, and in all cases, Customer shall be liable
for any deficiency remaining in Customer's account(s) in the event of
the liquidation thereof in whole or in part by INVESTTECHFX or by
Customer. In the event the proceeds realized pursuant to this
authorization are insufficient for the payment of all liabilities of
Customer due to INVESTTECHFX. Customer shall promptly pay upon demand,
the deficit and all unpaid liabilities together with interest thereon
equal to three (3) percentage points above the then prevailing
"prime rate" at INVESTTECHFX's principal bank or the maximum
interest rate allowed by law, whichever is lower, and all costs of
collection, including attorney's fees, witness fees, travel expenses and
the like. In the event INVESTTECHFX incurs expenses other than for the
collection of deficits, with respect to any of the account(s) of
Customer, Customer agrees to pay such expenses. 8.
CHARGES Customer shall pay such brokerage commission transaction and
special service charges as Investtechfx may from time to time charge and
all other charges (including, without limitation, mark-ups and
mark-downs, statement charges, idle account charges, order cancellation
charges, rollover costs, currency conversion costs, account transfer
charges or other charges), fees (including, without limitation, fees
imposed by any interbank agency, bank, counterparts institution,
contract market, clearing organization or other regulatory or
self-regulatory organization) arising out of INVESTTECHFX s providing
services hereunder. INVESTTECHFX may change its commissions, charges,
and/or fees without notice Customer shall be liable to Investtechfx for
interest on amounts due from Customer to INVESTTECHFX at an interest
rate equal to three (3) percentage points above the then prevailing
"prime rate at INVESTTECHFX's principal bank or the maximum
interest rate allowed by law, whichever is lower. All such charges shall
be paid by Customer as they are incurred, or as INVESTTECHFX, in its
sole and absolute discretion, may determine. Customer hereby authorizes
INVESTTECHFX to withdraw the amount of any such charges from Customer's
account(s). Customer agrees to pay a transfer fee, to be designated by,
INVESTTECHFX, if Customer instructs INVESTTECHFX to transfer open
positions, monies, and/or property of Customer's account to another firm
or institution. Fixed spreads on advertised discounts are limited to 1000
lots at any given time during the fiscal calendar trading year. Any trader
or institution that exceeds this limit is subject to an account adjustment
and the nominal market spread issued by the Interbank for the particular
trading currency pair will be applicable. The account will be issued a CALL
to cover the excess lots at the adjusted spread rate. Account holders whom
plan on exceeding 1000 lots within the calendar year must submit a written
request for a spread adjustment, which will be reviewed by our clearing underwriter,
and it applies to both independent trader and institutional IB’s. 9.
STATEMENTS AND CONFIRMATIONS. Reports of the confirmation of orders and
statements of accounts for Customer are made available displayed
electronically through the System and shall be deemed correct and shall
be conclusive and binding upon Customer if not objected to immediately
after they become accessible by Customers, or immediately upon receipt
if sent by e-mail, fax or mail and confirmed in writing within three (3)
days after such transmittal or availability to Customer electronically,
by mail or otherwise, Margin calls shall be conclusive and binding
unless objected to immediately by telephone, e-mail, fax or by wire,
Written objections on Customers part shall be directed to Investtechfx`s
Compliance Department and shall be deemed received only if actually
delivered or mailed by registered mail, return receipt requested.
Failure to object shall be deemed ratification of all actions taken by
INVESTTECHFX or INVESTTECHFX's agents prior to Customer's receipt of
said reports. Customer's failure to receive or to electronically access
a trade confirmation or statement shall not relieve Customer of the
obligation to object as set forth herein. 10.
COMMUNICATIONS Reports, statements, notices and any other communications
will be made available by display electronically, or, at the Customer's
request and if available on the Information Provider's System, may be
transmitted electronically via e-mail in writing to INVESTTECHFX. All
communications so made available or sent, whether by e-mail, shall be
deemed transmitted by INVESTTECHFX when deposited in the mail, or when
received by a transmitting agent or posted in the System and thus
available for Customer electronic access, or when e-mailed or faxed, and
will also be deemed delivered to Customer personally, whether actually
received or accessed by Customer or not. 11.
LIMIT ON INVESTTECHFX'S RESPONSIBILITIES. INVESTTECHFX will not be
responsible for delays in the transmission of orders due to a breakdown
or failure of transmission or communication facilities, electrical power
outage or for any other cause, beyond INVESTTECHFX's control or
anticipation. 12.
CURRENCY FLUCTUATION OR EXCHANGE RATE RISK. If Customer directs
INVESTTECHFX to enter into any Currency Forex & CFDs contract: (a)
any profit or loss arising as a result of a fluctuation in the exchange
rate affecting such currency will be entirely for Customer's account and
risk; (b) all initial and subsequent deposits for margin purposes shall
be made in U.S. dollars or other currency as INVESTTECHFX may instruct,
in such amounts as INVESTTECHFX may in its sole discretion require; and
(c) INVESTTECHFX is authorized to convert funds in Customer's account
for margin into and from such foreign currency at a rate of exchange
determined by INVESTTECHFX in its sole discretion on the basis of then
prevailing money market rates. 13.
RISK ACKNOWLEDGMENT. Customer acknowledges that investment and trading
in leveraged and non- leveraged Currency Forex & CFDs are
speculative, involve a high degree of risk and are appropriate only for
those who can assume risk of loss in excess of their margin deposits.
Customer understands that because of the low margin normally required in
Currency Forex & CFDs trading, value changes in Currency Forex &
CFDs may result in significant losses, which losses may substantially
exceed Customer's investment and margin deposits. Customer warrants that
Customer is willing and able, financially and otherwise, to assume the
risk of Currency Forex & CFDs trading, and in consideration of
INVESTTECHFX's carrying its, his/her account(s), Customer agrees not to
hold INVESTTECHFX responsible for losses incurred through following
INVESTTECHFX's trading recommendations or suggestions or those of its
employees, agents or representatives Customer recognizes that guarantees
of profit or freedom from loss are impossible of performance in Currency
Forex & CFDs trading. Customer acknowledges that Customer has
received no such guarantees from INVESTTECHFX or from any of its
representatives or any introducing agent or other entity with whom
Customer is conducting its, his/her Currency Forex & CFDs account
and has not entered into this agreement in consideration of or in
reliance upon any such guarantees or similar representations. 14.
TRADING RECOMMENDATIONS.
(a) Customer acknowledges that (i) any market recommendations and
information communicated to Customer by Investtechfx do not constitute
an offer to sell or the solicitation of an offer to buy or sell any
currency or Currency Forex & CFDs; (ii) any such recommendation and
information, may be based solely, on a broker's opinion or individual
judgment, and that such information may be incomplete and may be
unverified; and (iii) INVESTTECHFX makes no representation, warranty or
guarantee as to, and shall not be responsible for, the accuracy or
completeness of any Information
or trading recommendation furnished to Customer. Customer acknowledges
that INVESTTECHFX and/or its members, managers, affiliates, associates
or representatives may have a position(s) in or may intend to buy or
sell Currency Forex & CFDs, which may be the subject of market
recommendations furnished to Customer, and that the market positions of
INVESTTECHFX or any such member, manager, affiliate, associate or
representative may not be consistent with the positions of, or
recommendations furnished by INVESTTECHFX to, Customer. Customer
acknowledges that INVESTTECHFX makes no representations concerning the
tax implications or treatment of transactions; and, (b) Customer further
acknowledges that should Customer grant trading authority or control
over Customer's account to a third-party ("Agent), whether on a
discretionary or non-discretionary basis, INVESTTECHFX shall in no way
be responsible for reviewing Customer's choice of such Agent nor making
any recommendations with respect thereto. Customer understands that
INVESTTECHFX makes no warranties nor representations concerning the
Agent, that INVESTTECHFX
shall not be responsible for any loss to Customer occasioned by
the actions of the Agent, and that INVESTTECHFX does not, by implication
or otherwise, endorse or approve of the operating methods of any Agent
if Customer gives Agent authority to exercise any of its rights over its
accounts, Customer understands that Customer does so at Customer's own
risk. Please keep in mind that Investtechfx does not accept funds for any
trading account via a third party, unless Power of Attorney/Authorized
Statement is granted by the beneficiary of the funds to the depositor.
Restrictions on third party payments are set by banks and their respective
authorities, which have developed extensive procedures, regulations, and
laws to stop the transfer of illegal funds, commonly known as money laundering. 15.
CUSTOMER REPRESENTATIONS AND WARRANTIES Customer represents and warrants
that: (a) if an individual, Customer is of sound mind, legal age and
legal competence, (b) no person other than Customer has or will have an
interest in Customer's account(s), (c) regardless of any subsequent
determination to the contrary Customer is suitable to trade Currency
Forex & CFDs (d) Customer is not now an employee of any exchange,
any clearing organization, any corporation in which any exchange or
clearing organization owns a majority of the capital stock, any member
of any exchange and/or firm registered on any exchange, or any
securities firm, futures firm, bank, trust, or insurance company and in
the event that Customer becomes so employed, Customer will promptly
notify INVESTTECHFX at its home office in writing of such employment;
and (e) all the information provided in the information portions of the
documents submitted to INVESTTECHFX or related to this Agreement is
true, correct and complete as of the date hereof. and Customer will
notify INVESTTECHFX promptly of any changes in such information. 16.
DISCLOSURE OF FINANCIAL INFORMATION. The Customer represents and
warrants that its financial information disclosed to Investtechfx is an
accurate representation of the Customer's current financial condition
The Customer represents and warrants that in determining the value of
assets, the Customer included cash and/or cash equivalents, U S
Government and marketable securities, real estate owned (excluding
primary residence), the cash value of life insurance and other valuable
assets. The Customer represents and warrants that in determining the
value of liabilities and liquid assets. The Customer represents and
warrants that the Customer has very carefully considered the portion of
the Customers assets which the Customer considers to be Risk Capital,
the Customer recognizes that Risk Capital is the amount of money the
Customer is willing to put at risk and if lost would not, in any way,
change the Customer's life style. The Customer agrees to immediately
inform INVESTTECHFX if the Customer's financial condition changes in
such a way to reduce the Customer's Net Worth, Liquid Assets and/or Risk
Capital. 17.
NO GUARANTEES. Customer acknowledges that Customer has no separate
agreement with Customer's broker, if any, or any INVESTTECHFX employee
or agent regarding the trading in Currency Forex & CFDs, including
any agreement to guarantee profits or limit losses in Customer's
account. Customer understands that Customer is under an obligation to
notify INVESTTECHFX s Compliance Department immediately in writing as to
any agreement of this type. Further, Customer understands that any
representations made by anyone concerning Customer's account which
differ from any statements Customer receives from INVESTTECHFX must be
brought to the attention of INVESTTECHFX's Compliance Department
immediately, in writing. Customer understands that Customer must
authorize every transaction prior to its execution unless Customer has
delegated discretion to another party in writing and provided the same
to INVESTTECHFX, and any disputed transactions must be brought to the
attention of the INVESTTECHFX's Compliance Department immediately, in
writing. Customer agrees to indemnify and hold Investtechfx harmless
from all damages or liability resulting from Customer's failure to
immediately notify INVESTTECHFX's Compliance Department of any of the
occurrences referred to herein. All notices required under this section
shall be sent to INVESTTECHFX at its address appearing on confirmations
and account statements. 18.
CREDIT. Customer authorizes INVESTTECHFX or its agents to investigate
Customer's credit standing and in connection therewith to contact such
banks, financial institutions and credit agencies as INVESTTECHFX shall
deem appropriate to verify information regarding Customer. Customer
further authorizes INVESTTECHFX to investigate Customer's current and
past investment and trading activity, and in connection therewith, to
contact such futures commission merchants, exchanges, broker/dealers,
banks, compliance data centers and regulatory and self-regulatory
organizations as INVESTTECHFX shall deem appropriate. Upon
reasonable request made in writing by Customer to INVESTTECHFX,
Customer shall be allowed to review any records maintained by
INVESTTECHFX relating to Customer's credit standing, and Customer also
shall be allowed, at Customer's sole cost and expense, to copy such
records. 19.
JOINT ACCOUNTS. With respect to joint accounts, each tenant has
authority: (a) to trade for the account subject to this Agreement; (b)
to receive all correspondence and documents in respect to the account; (
c) to deposit, receive or withdraw money; (d) to execute additional
agreements relating to the account; (e) deal with INVESTTECHFX fully.
INVESTTECHFX has the authority to require joint action by the parties to
the account in matters in connection therewith. If a death or
dissolution occurs to one or more of the tenants, INVESTTECHFX shall be
notified in writing. All expenses charged due to the date of
notification shall be charged to the account. Unless the Joint Account
Allocation Rider is completed and attached, then each tenant is presumed
to have an equal share. 20.
NO WAIVER OR AMENDMENT. No provision of this Agreement may be waived or
amended unless the waiver or amendment is in writing and signed by both
Customer and an authorized officer of INVESTTECHFX. No waiver or
amendment of this Agreement may be implied from any course of dealing
between the parties or from any failure by INVESTTECHFX or its agents to
assert its right under this Agreement on any occasion or series of
occasions. No oral agreements or instructions to the contrary shall be
recognized or enforceable. This document and the attachments hereto
embody the entire agreement of the parties, superseding any and all
prior written and oral agreements and there are no other terms,
conditions or obligations other than those contained herein. 21.
ERRORS IN PRICE. It is possible that errors may occur in the prices
quoted in Currency Forex & CFDs transactions or proposed
transactions. In such circumstances, without prejudice to any rights it
may have under the law, INVESTTECHFX shall not be bound by any trade or
transaction which purports to have been made (whether or not confirmed
by INVESTTECHFX) at a price which (i) INVESTTECHFX is able to
substantiate to Customer was manifestly incorrect at the time of the
trade or transaction or (ii) was, or ought reasonably to have been,
known by Customer to be incorrect at the time of the trade or
transaction. 22.
GOVERNING LAW AND JURISDICTION. This Agreement and the rights and obligations of the
parties hereto, as well as the resolution of any and all disputes arising from or
connection with the Agreement, shall be governed by and construed in accordance with
the laws of the Province of Ontario and the laws of Canada applicable therein. 23.
BINDING EFFECT. This Agreement shall be continuous and shall cover,
individually and collectively, all Currency Forex & CFDs accounts of
Customer at any time opened or reopened with INVESTTECHFX, irrespective
of any change or changes at any time in the personnel Of INVESTTECHFX or
its Successors, assigns, or affiliates This agreement, including all
attachments and authorizations, shall inure to the benefit Of
INVESTTECHFX and its successors and assigns, whether by merger,
consolidation or otherwise, and shall be binding upon Customer and/or
the estate, executor, trustees, administrators, legal representatives
successors and assigns of customer. Customer hereby ratifies all
transactions with INVESTTECHFX affected prior to the date of this
Agreement and agrees that the rights and obligations of Customer in
thereto shall be governed by the terms of this Agreement. 24.
TERMINATION. This Agreement shall continue in effect until termination,
and may be terminated by Customer at any time when Customer has no open
Currency Forex & CFDs position and no liabilities held by or owed to
INVESTTECHFX, upon the actual receipt by INVESTTECHFX at its main office
of written notice of termination, or at any time whatsoever by
INVESTTECHFX upon the transmittal of written notice of termination to
Customer; provided that such termination shall not affect any
transactions previously entered into and shall not relieve either party
of any obligations set forth in this Agreement nor shall it relieve
Customer of any obligations arising out of any debit or deficit balance. 25.
INDEMNIFICATION. Customer hereby agrees to indemnify and hold
INVESTTECHFX, its partners, affiliates, employees, agents, successors
and assigns harmless from and against any and all liabilities, losses,
damages, costs and expenses, including attorney's fees, incurred by
INVESTTECHFX arising out of Customer's failure to fully and timely
perform Customer's agreements herein or should any of the
representations and warranties fail to be true and correct. Customer
also agrees to pay promptly to INVESTTECHFX all damages, costs and
expenses, including attorney's fees, incurred by INVESTTECHFX in the
enforcement of any of the provisions of this Agreement and any other
agreements between INVESTTECHFX and Customer. 26.
CROSS- AND PRINCIPAL-TRADE CONSENT. Customer hereby acknowledges and
agrees that a situation may arise whereby INVESTTECHFX or an officer,
director, member, partner, affiliate, associate, employee, bank, bank
employee or dealer, associated with INVESTTECHFX, may be the opposing
broker for a trade entered for Customer's account. Customer further
hereby acknowledges and agrees that INVESTTECHFX may act as principal
and be counterparts for a trade entered for Customer's account wherein a
mark up or mark down may be charged to Customer. Customer hereby
consents to any such transaction, subject to the limitations and
conditions, if any, contained in the rules or regulations of any bank,
institution, exchange, interbank market, contract market or counterparts
upon or through which such buy or sell orders are executed, and subject
to the limitations and conditions, if any, contained in any applicable
Regulations. 27.
TERMS AND HEADINGS. The term "INVESTTECHFX" shall be deemed to
include INVESTTECHFX, its divisions, its affiliated entities, its
successors and assigns; the term Agreement" shall include all other
agreements and authorizations executed by Customer in connection with
the maintenance of Customer's account regardless of when executed. The
paragraph headings in this Agreement are inserted for convenience of
reference only and are not deemed to limit the applicability or affect
the meaning of any of its provisions. 28.
ACCEPTANCE. This Agreement shall not be deemed to be accepted by
INVESTTECHFX or become a binding contract between Customer and
INVESTTECHFX until approved at Investtechfx's main office. 29.
RECORDINGS. Customer agrees and acknowledges that all conversations,
oral or electronic, regarding Customer's
accounts between Customer and INVESTTECHFX s personnel may be
electronically recorded with or without the use of an automatic tone
warning device. Customer further agrees to the use of such recordings
and transcripts thereof as evidence by either party in connection with
any dispute or proceeding that may arise involving Customer or
INVESTTECHFX Customer understands that INVESTTECHFX destroys such
recordings at regular intervals in accordance with INVESTTECHFX's
established business procedures and Customer hereby consents to such
destruction. 30.
MODIFICATIONS TO AGREEMENT. INVESTTECHFX reserves the right to change
and/or modify any and all terms of this Agreement upon notice to
Customer provided in accordance with the terms of this Agreement.
Customers failure to object, in writing, within (3) business days of
delivery of such Notice of Modification shall be deemed Customer's full
acceptance of the modifications set forth in the Notice of Modification. 31.
USA CUSTOMERS WARNING. Warning Notice to United States Residents and U.S. Based Territories:
You are about to enter/ or have entered a restricted site to U.S residents.
If you have entered by any means of artificial IP, violation of the electronic communications act,
or 3rd party search engine portals, please exit immediately. InvestTechFX does not provide service
to U.S.A based residents in any form of trading foreign currencies and/or contract for differences
on indexes and futures markets. The actual or attempted unauthorized access by US based residents
to this website or its contents is strictly prohibited by InvestTechFX, the CFTC and the NFA.
Unauthorized users and/ or unauthorized use are subject to criminal civil penalties in accordance
with applicable domestic and foreign laws. InvestTechfx reserves the right to monitor, track and record
any IPs for administrative and security reasons. If such monitoring and/or tracking reveals possible
evidence violating terms stated above, InvestTechFx will provide evidence of such activity to the proper
authorities and regulatory boards. Access to this website from an un-trusted workstation, including and not
limited to, cybercafés, public kiosks is strictly prohibited. 32.
ACKNOWLEDGEMENT. The undersigned acknowledges having received, read and
understood the foregoing Customer Agreement and attachments and confirms
the voluntary execution hereof. 33.
LENDING AGREEMENT. By signing this Agreement, Customer authorizes
INVESTTECHFX and its affiliates to use the Currency Forex & CFDs, or
the ownership thereof, as collateral for a loan, the proceeds of which
are used to pay for the Currency Forex & CFDs until rollover of the
Currency Forex & CFDs to a new settlement date and/or payment in
full by Customer This authorization shall apply to all accounts carried
by INVESTTECHFX and affiliates for Customer. This shall remain in effect
until the account is closed and all financial responsibilities are
completed. See paragraph 5 of this Agreement for additional information
about this Lending Agreement. The
signing of this document acknowledges that Customer has read and
understands the disclosure information, understands the term of the
Lending Agreement set forth in paragraph 33, and authorizes trading in
cash currencies (including financial instruments), gold and silver
bullion and forward or leverage or option contracts and any similar
instruments (collectively referred to as "Currency Forex & CFDs
") as described in this Agreement. Customer is fully responsible
for making all decisions as to transactions effected for Customer's
account. Customer is willing and able to assume the substantial
financial risks of Currency Forex & CFDs trading, I
HAVE READ AND UNDERSTAND THE FOREGOING AGREEMENT, AND I INTEND TO RELY
UPON IT AND INURE INTEND TO BE BOUND THEREBY.