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Client authorizes The Agent to act as his/her Trading Agent (Money Manager) and to manage his/her account and risk through the purchase and sale of currency pairs and commodities. Client's Account is connected to the Master Account of Trading Agent, which determines the Trading Conditions (Leverage, Spreads, Margin requirements, Stop Out Levels, Commissions).
FinFx Trading Oy (hereinafter referred to as “FinFX”) shall not under any circumstances whatsoever be responsible for any liabilities, losses, damages, costs or expenses, arising there from. FinFX will not in any way be liable or responsible for any buy or sell trading actions done on the Client's behalf by the Agent or for any losses incurred by the Agent for the Client's account. Further, FinFX does not endorse the Agent nor does it vouch for the background, or experience of the Client's Trading Agent, nor does FinFX endorse any operating methods used by the Client’s Trading Agent, including when trading for the Client's Account. Even though the Client granted trading authority to another, The Client should be diligent to closely scrutinize what transpires in the account. If the Client has any questions, he/she will contact FinFX immediately.
The authorized Agent shall have full authority for the trading concerned. Client acknowledges and understands that FinFX is being given authorization to follow the instructions of the Agent in every respect concerning the Client's foreign currency trading account, except that said agent is not authorized to withdraw any money, securities, or other property in the name of the undersigned.
Client acknowledges that his/her personal data and trading history may be disclosed in a reasonable range to the Trading Agent. The information may include any of the information held in FinFX’s register, such as Client’s name, Address, trading account information and trading history. Data may be disclosed to countries inside or outside the European Union or European Economic Area.
Client acknowledges and understands that trading is very risky and may result in losses that equal to or exceed the amount of margin deposited with FinFX. Client also acknowledges that neither FinFX nor any Trading Agent can guarantee profits or avoid the risk of loss or, under some circumstances, even limit the extent of potential loss under. Client is solely and exclusively responsible for understanding the trading objectives and risks of the Trading Agent and acknowledges and agrees that FinFX is not responsible for any transactions that may or may not conform those objectives. FinFX shall not under any circumstances whatsoever be responsible for capital protection promises given by the Trading Agent.
Client acknowledges that due technical reasons the trades on a client account do not necessarily realizes exactly similarly as they do on a master account where to the client account is connected. When trading with relatively small sums the performance on a client account may differ significantly from a performance on a master account. FinFX is not responsible to compensate for the Client if such differences will occur.
Client understands that Trading Agent will charge Client to manage Client's trading activity. Compensation will be in the form of commissions, management, performance and/or other fees as specified in the Limited Power of Attorney. It is the Client's responsibility to inquire with Trading Agent on what this compensation may be. Client agrees that FinFX is authorized to deduct these fees from Client's account on behalf of Trading Agent.
The Performance Fee is calculated based upon the equity in the end of every calendar month. According to the industry standard High Watermark principle end-of-month profit is compared to the previous month's profit. If the comparison is negative no Performance Fee is collected. The highest historical Equity shall remain as the basis for comparison.
Client understands that deposits and withdrawals can be made only after all open trades have been closed and no trading takes place. If the Client requests a withdrawal from his/her account, and there are insufficient funds available to pay the Trading Agent as a result of such request or other action taken by the client, the Client agrees and understands that all fees are debited from his/her trading account prior to requested withdrawal.
The authorization is a continuing one and shall remain in full force and effect until it is terminated in writing to FinFX. Client understands the termination can come into force only when all open trades have been closed. Further, FinFX is obliged to follow the instructions of the Agent. Client understands that FinFX is harmless from and against any and all liabilities, losses, damages, costs and expenses, arising there from.