This Agreement sets forth the terms and conditions governing your Account at (FXOPTIMAX LTD), and all Contracts and other transactions placed through this Account with (FXOPTIMAX LTD).
Definitions and common trading terms may be shown in bold or italics type the first time they are used in this Agreement.
As of the date hereof, the date of each Contract and other transaction in Customer’s Account and any date on which (FXOPTIMAX LTD) Risk Disclosure Statement or Trading Policies are revised, updated or amended, Customer represents and warrants to (FXOPTIMAX LTD) and agrees for the benefit of (FXOPTIMAX LTD) that:
Any Customer of (FXOPTIMAX LTD) may be asked to comply with special requests as required by any applicable governmental or regulatory agency or any other similarly such authority having jurisdiction thereof. In addition, (FXOPTIMAX LTD) may be required to provide to an applicable governmental or regulatory agency with information regarding a Customer’s account(s). Failure by the Customer to respond to such inquiries may result in immediate prohibition of the trading in the Customer’s Account(s) with the exception of offsetting trades to existing open positions. (FXOPTIMAX LTD) also reserves the right to liquidate open positions at the request of any governmental, regulatory or like such agency and perform other duties as instructed by such agencies. All Foreign Accounts with (FXOPTIMAX LTD) must copy and forward an official form of picture ID (i.e., Passport) and, upon request, provide a bank reference before the Customer is approved for trading.
(FXOPTIMAX LTD) will make available, through its technology partners, technology providers, and designated counterparty or counterparties, Bid and Ask Prices in Foreign Currency Contracts by posting on the (FXOPTIMAX LTD) Internet Trading Platform an online trading system, or by any other communicative means available to (FXOPTIMAX LTD) and it’s Customers. Each Bid or Ask Price shall be for a Spot Contract with a specified Value Date and for a specific Foreign Currency pair. (FXOPTIMAX LTD) makes no warranty expressed or implied; that Bid and Ask Prices shown represent prevailing bid and ask prices in the interbank market. In addition, although (FXOPTIMAX LTD) reasonably expects to make available continuous prices during business hours, because of a number of factors including but not limited to technology failures, communication system delays, lack of interbank liquidity or high market volatility, (FXOPTIMAX LTD) makes no warranties that dealing prices and liquidity will be available continuously to Customers.
Customer acknowledges, understands and agrees that all Market Orders and non-Market Orders such as Limit Orders, Stop-Loss Orders, One Cancels the Other Orders, or any other non-Market Order transmitted and accepted by the designated counterparty or counterparties, are undertaken on a “best-efforts basis” in accordance with the relevant provisions of the Trading Policies, as amended from time to time. The Customer acknowledges, however, that due to market conditions or other circumstances, the counterparty may be unable to execute the Order at the Market or specified level and the Customer agrees that (FXOPTIMAX LTD) and its technology partners and technology providers will bear no liability for failure to execute such orders. This includes but is not limited to all Orders that are entered over a weekend or holiday period. In such circumstances, orders will be executed on a “best-efforts basis” once the market is reopened on the next business day. Customer acknowledges that execution may not be immediate or at the price dictated by the opening level due to imbalances in Orders, market conditions, market liquidity or other circumstances. (FXOPTIMAX LTD) and its technology partners and technology providers shall have no responsibility for delays in the transmission of Orders due to disruption, market conditions, failure or malfunction of communications facilities and shall not be liable for any claims, losses, damages, costs or expenses, including attorneys’ fees, to any person or entity, including (FXOPTIMAX LTD) and its technology partners and technology providers, or the designated counterparty or counterparties, as a result of negligence.
(FXOPTIMAX LTD) reserves the sole discretionary right to limit the number of Open Positions which Customer may enter, acquire or maintain with the designated counterparty or counterparties, to refuse acceptance of any Order entered by Customer or to alter its dealing relationship with the Customer to include or exclude use of any electronic trading network or other trade execution method in any manner and to any extent.
(FXOPTIMAX LTD) retains the right to net all hedged positions at the end of each month at their sole discretion.
Any and all Contracts and transactions made and entered into as a result of Customer directing such Contracts and transactions, are made and entered into by (FXOPTIMAX LTD) and its technology partners and technology providers on behalf of the Customer. Customer understands that (FXOPTIMAX LTD) and its technology partners and technology providers do not act as counterparty, broker, intermediary, agent, and advisor or in any fiduciary capacity. The Customer understands and recognizes that any and all transactions and Contracts entered as a result of Customer directing (FXOPTIMAX LTD) to enter into such transactions and Contracts may be entered by (FXOPTIMAX LTD), with financial institutions including, without limitation banks, clearing institutions and Foreign Exchange dealers at the sole discretion and option of (FXOPTIMAX LTD) and its technology partners and technology providers. Customer represents, agrees and authorizes (FXOPTIMAX LTD) to deliver, sell, purchase and clear with the designated counterparty or counterparties any and all Customer’s Contracts. Customer shall guarantee and hold (FXOPTIMAX LTD) and its technology partners and technology providers harmless against any loss it may sustain thereby.
(FXOPTIMAX LTD) is not an authorized credit institution licensed to conduct deposit business. Accordingly, all monies will be held by the counterparty and not by (FXOPTIMAX LTD), or any of its affiliates, technology providers or technology partners, as a trustee or agent. Customer hereby acknowledges that all monies with respect to trades placed pursuant to the terms of this agreement, may not be segregated on its behalf. Customer expressly agrees to indemnify and hold harmless (FXOPTIMAX LTD), its technology partners and technology providers from any and all claims against it by customers with respect to monies given or deposited.
In the absence of an offsetting or closing liquidation trade done prior to the close of business, (FXOPTIMAX LTD) is authorized to rollover all or any portion of the Foreign Currency Positions in Customers Account at (FXOPTIMAX LTD)’s absolute discretion and at Customer’s risk to the next settlement spot date. Rollovers will be executed at rates determined by (FXOPTIMAX LTD) and at (FXOPTIMAX LTD)’s absolute discretion. Rollover debits or credits will be reflected in the Customer’s Account at a time after the normal close of the business day for (FXOPTIMAX LTD). (FXOPTIMAX LTD) reserves the right to change at its sole discretion, any rollover debits or credits at any time if (FXOPTIMAX LTD), at its sole discretion deems that the amount debited or credited was in error.
(FXOPTIMAX LTD) reserves the right to change its fee structure at any time at its sole discretion. (FXOPTIMAX LTD) will charge for incidental banking related fees such as wire transfers for deposits/withdrawals and returned check fees. (FXOPTIMAX LTD) will also charge Customer for the purchase of optional, value added services as may be offered by (FXOPTIMAX LTD) from time to time.
If an Introducing Broker or Third Party Advisor introduces the Customer to (FXOPTIMAX LTD), the Customer understands that (FXOPTIMAX LTD) may pay fees, commissions or other compensation to such person or entity for the introduction. Customer acknowledges and agrees that as an Introducing Broker or Third Party Advisor to (FXOPTIMAX LTD), the Introducing Broker or Third Party Advisor does not hold or collect any funds on behalf of (FXOPTIMAX LTD) or for the Customer’s Account. (FXOPTIMAX LTD) does not control and cannot endorse or vouch for the accuracy of any information or advice Customer may have or will receive by the Introducing Broker or Third Party Advisor. Included in the information and advice without limitation are actual or implied promises made by the Introducing Broker regarding the future profit or losses in Customer Accounts as a result of third party trading systems, research reports, market trading advice or interpretation of economic news and events. If Customer receives information or trading advice from an Introducing Broker or Third Party, (FXOPTIMAX LTD) shall in no way be held responsible for any loss resulting from the Customers use of information or advice. (FXOPTIMAX LTD) provides or otherwise makes available a (FXOPTIMAX LTD) Risk Disclosure document to Customers when they open accounts. Any Customer introduced by Introducing Brokers or Third Parties should carefully read the (FXOPTIMAX LTD) Account Application, (FXOPTIMAX LTD) Risk Disclosure Document and (FXOPTIMAX LTD) Trading Policies herein and should not rely on information supplied by the Introducing Broker or Third Party. Customer should understand that Introducing Brokers or Third Party Advisors are often not regulated by a government agency and that the Introducing Broker or Third Party Advisor shall have the right to access information regarding the account of the Customer including but not limited to account information, Customer address, phone number, email address. The Introducing Broker or Third Party Advisor will not have trade authorization privileges unless granted in writing by the Customer via the signing of a Power of Attorney document authorizing the trading.
Referring Agent have certain responsibilities to clients and (FXOPTIMAX LTD) with respect to their introduced accounts:
1. Responsible for communicating with their introduced clients investment objectives and investment opportunities given those objectives,
2. Responsible for complying with all legal requirements, rules and regulations applicable to being a licensed Introducing Broker
3. Responsible for complying with all legal requirements, rules and regulations applicable to their Customers
4. Determining any commission structure and communicating the structure to the introduced clients.
The Referring Agent will not be responsible for:
i. The Opening of the Account including, but not limiting to the approving, servicing and monitoring of Customer’s Accounts(s) and obtaining and verifying account information as is required by the law and regulation,
ii. Collecting funds from the clients for the purpose of facilitating margin Foreign Exchange trading or satisfying margin requirements,
iii. Executing any transactions or accepting any orders for the Customer’s Account(s), or performing any action that would cause or appear to cause a change in Customer position or Account Value, including but not limited to rolling over spot positions, liquidating positions, paying interest, requiring margin, or accepting additional funds or paying out funds to the Customer,
iv. Providing any account statements to the Customers,
v. Responding to complaints or inquiries.
Confirmation of trades will be made online as the trades are executed and should immediately be reflected in the Customer’s (FXOPTIMAX LTD) Margin Monitor, (FXOPTIMAX LTD) Open Positions window, Account Statement Report and in their Trade History Report. Reports and all online position windows and statements of Accounts for Customer shall be deemed correct and shall be conclusive and binding upon Customer if not objected in writing within three (3) Business Days after the transmission to Customer. Margin calls or trade corrections shall be conclusive and binding unless objected to immediately by telephone, fax or email. Written objections on Customer’s part shall be directed to (FXOPTIMAX LTD), Attn: Customer Objections, Email email@example.com 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 (FXOPTIMAX LTD), or (FXOPTIMAX LTD) agents prior to Customer’s receipt of said reports. Trades executed online will be confirmed online at the time of the trade. Pending Orders or trades executed while the Customer is offline will be reflected in the Customers (FXOPTIMAX LTD) Open Position window, in the (FXOPTIMAX LTD) Margin Monitor, Account Statement Report and in their Trade History Report upon logging back into the (FXOPTIMAX LTD) application. Customer’s Account statements will be available online in the Reports section of the (FXOPTIMAX LTD) Internet Trading Platform. Monthly statements will be available by e-mail upon request. Customer’s failure to receive a trade confirmation shall not relieve Customer of the obligation to object as set out herein. Customer understands and acknowledges that oral information provided by (FXOPTIMAX LTD) to Customer regarding confirmations of trades and statements of Account may be unverified and incomplete due to delays in transmission and other factors beyond (FXOPTIMAX LTD)’s reasonable control. Customer therefore acknowledges and agrees that any reliance upon such oral information is at Customer’s risk and Customer further agrees to immediately call to (FXOPTIMAX LTD)’s attention any such oral information which Customer has reason to believe is inconsistent with Customer’s own information. No provision of this Agreement shall operate to prevent (FXOPTIMAX LTD) from correcting any error or omission upon discovery. The Customer agrees that such errors, whether resulting in a profit or loss, shall be corrected and Customer’s Account will be credited or debited in such manner and extent as to place the Account in the same position in which it would have been had the error not occurred. (FXOPTIMAX LTD) reserves the right to be the final arbiter as related to disputed Orders.
Reports, statements, notices and any other communications may be transmitted to Customer at the address set forth herein, or to such other address as Customer may from time to time designate in writing to (FXOPTIMAX LTD). All communications sent, whether by mail, telegraph, e-mail, fax, messenger or otherwise, shall be deemed transmitted by (FXOPTIMAX LTD) when deposited in the mail, or when received by a transmitting agent, or communications or recording device, designated by Customer or otherwise within Customer’s actual or constructive control, and such communication shall be deemed delivered to Customer personally, whether actually received by Customer or not, and Customer hereby waives all claims resulting from failures to receive such communications. All communications sent by Customer shall not be deemed effective until accepted by (FXOPTIMAX LTD). Customer shall notify (FXOPTIMAX LTD) immediately of any change in Customer’s address by Email to firstname.lastname@example.org.
(FXOPTIMAX LTD) and its technology partners and technology providers shall not be liable to the Customer for any loss, cost, damage or expense sustained or incurred by the Customer, directly or indirectly, by reason of any cause beyond (FXOPTIMAX LTD)’s control, including but not limited to, natural disasters, acts of God, civil unrest, war, insurrection, international intervention, governmental action (including, without limitation, exchange controls, forfeitures, nationalizations, devaluations), market conditions, inability to communicate with any relevant person or entity or any breakdown or failure of any transmission or communication system or computer facility, whether belonging to (FXOPTIMAX LTD) or its technology partners and technology providers, Customer or any market or any settlement or clearing system.
Customer acknowledges, understands and agrees that
(i) any market recommendations and information communicated to Customer by (FXOPTIMAX LTD) or any Introducing Broker affiliated with (FXOPTIMAX LTD) do not constitute an offer to sell or the solicitation of an offer to buy any Foreign Currency Contract;
(ii) such recommendation and information, although based upon information obtained from sources believed by (FXOPTIMAX LTD) to be reliable, may be incomplete and may be unverified; and
(iii) (FXOPTIMAX LTD) 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; and
(iv) Customer further acknowledges that, should Customer grant trading authority or control over Customer’s Account to a third-party (Authorized Agent), whether on a discretionary or non-discretionary basis, (FXOPTIMAX LTD) shall in no way be responsible for reviewing Customer’s choice nor making any recommendations with respect thereto.
The Platform may incorporate third party data, text, images, software, multi-media materials and other content (“Third Party Content”) and references to the term “Platform” shall be taken to include all materials, content and services made available from time to time on the Platform whether viewed on screen or downloaded to another computer including without limitation Third Party Content. The Platform is protected by copyright, database rights and other intellectual property rights. You acknowledge that we and/or third parties retain all right, title and interest in and to the Platform. Use of the Platform does not confer any ownership rights in the Platform.
Except as otherwise specifically agreed in writing or to the extent necessary for you to view the Platform in accordance with this Customer Agreement, you shall not: (i) copy the Platform in whole or in part (except to make backup copies solely for disaster recovery purposes); (ii) display, reproduce, create derivative works from, transmit, sell, distribute, rent, lease, sublicense, time-share, lend or transfer or in any way exploit the Platform in whole or in part; (iii) embed the Platform into other products; (iv) use the Platform in any timesharing arrangement; (v) create function calls or other embedded links from any software program to the Platform; (vi) remove or obscure any copyright notice; (vii) use any trademarks, service marks, domain names, logos, or other identifiers of third party suppliers or (viii) save to the extent permitted under by law, reverse engineer, decompile, disassemble, or access the source code of the Platform.
The Platform may contain links to other websites which are not controlled by us or any Service Providers and contain material produced by independent third parties. The owners of such linked websites do not necessarily have any relationship, commercial or otherwise, with us. The existence of a link from the Platform to any third party website does not constitute a recommendation or other approval by us or any Service Provider of such website its content or any provider thereof. Any opinions or recommendations expressed on third party websites are those of the relevant provider and are not the opinions or recommendations of ours or any Service Provider. Neither we nor any Service Provider accepts any responsibility for content provided on any website that may be accessed through links on the Platform.
The Customer represents and warrants that the financial information disclosed to (FXOPTIMAX LTD) in this document and any and all documents provided by Customer in connection with the Customer’s Account are an accurate representation of the Customer’s current financial condition, trading experience and the level of investment sophistication. The Customer additionally represents to (FXOPTIMAX LTD) that the information provided by the Customer in connection with this Agreement is full, complete and accurate and (FXOPTIMAX LTD) is entitled to rely on this information until (FXOPTIMAX LTD) receives written notice from the Customer of any change in such information. The Customer represents and warrants that the Customer has very carefully considered the portion of the Customer’s Assets which the Customer deems 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 or otherwise materially effect Customer.
(FXOPTIMAX LTD) will not share or sell information regarding its customers and/or prospective customers, except to its technology partners and technology providers, employees, agents, affiliates, partners, and associates as reasonably required in the ordinary course of (FXOPTIMAX LTD) business, including, but not limited to, (FXOPTIMAX LTD) banking or credit relationships. (FXOPTIMAX LTD) may also disclose to federal or state regulatory agencies and law enforcement authorities’ information regarding Customer and Customer’s transactions in response to a request for such information and may disclose information regarding Customer and Customer’s transactions in response to a court order or subpoena.
If more than one natural person as the Customer executes this Agreement, all such natural persons agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Agreement is executed by a trust, partnership or unincorporated association, the Customer hereby agrees to indemnify, defend, save and hold harmless and free (FXOPTIMAX LTD) for any losses, claims, costs, damages and expenses resulting directly or indirectly from breach of any fiduciary or similar duty or allegation thereof.
Customer understands, acknowledges and agrees that (FXOPTIMAX LTD) may amend or change this Agreement, including the Annexes hereto, at any time. (FXOPTIMAX LTD) will provide notice to Customer of any such amendment or change by sending an e-mail message to Customer and by posting the amendment or change on (FXOPTIMAX LTD) Website (http://www.fxoptimax.com). Customer agrees to be bound by the terms of any such amendment or change. No waiver or amendment of this Agreement may be implied from any course of dealing between the parties or from any failure by (FXOPTIMAX LTD) or its agents to assert its rights under this Agreement on any occasion or series of occasions. No oral agreements or instructions to the contrary shall be recognized or enforceable.
This Agreement shall continue in effect until termination, and may be terminated by Customer at any time when Customer has no open Foreign Currency Positions and/or no liabilities held by or owed to (FXOPTIMAX LTD), upon the actual receipt by (FXOPTIMAX LTD) of written notice of termination. This agreement may be terminated by (FXOPTIMAX LTD) at any time whatsoever 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. Any such notice of termination by (FXOPTIMAX LTD) shall not relieve Customer of any obligations arising out of any deficit balance.
This Agreement, together with the full Customer Account Application, Trading Policies and Risk Disclosure Statement and all applicable written Addenda thereto, embodies the entire agreement of the parties, superseding any and all prior written and oral agreements. Whenever possible, each provision of this Agreement will be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be unlawful, prohibited by or invalid under applicable law, then such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or any of the remaining provisions of this Agreement.
Customer acknowledges and agrees that any and all conversations between customer and (FXOPTIMAX LTD) personnel, including but not limited to principals, agents, employees or associates may, at the sole option and discretion of (FXOPTIMAX LTD), be recorded electronically 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 (FXOPTIMAX LTD). Customer understands that (FXOPTIMAX LTD) destroys such recordings at regular intervals in accordance with (FXOPTIMAX LTD) established business procedures and at its sole discretion, and Customer hereby consents to such destruction.
This Agreement shall be continuous and shall cover, individually and collectively, all Accounts of Customer at any time opened or re-opened with (FXOPTIMAX LTD), irrespective of any change or changes at any time in the personnel of (FXOPTIMAX LTD) or its successors, assigns, or affiliates. This Agreement, including all authorizations, shall inure to the benefit of (FXOPTIMAX LTD) 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 (FXOPTIMAX LTD) affected prior to the date of this Agreement, and agrees that the rights and obligations of Customer in respect thereto shall be governed by the terms of this Agreement.
This Agreement shall be governed by, and construed in accordance with the laws of Saint Vincent and the Grenadines without giving effect to conflict of laws provisions. With respect to any suit, action or proceeding (“Proceeding”) relating to this Agreement, the Customer irrevocably
(i) submits to the exclusive jurisdiction of the Saint Vincent and the Grenadines Courts;
(ii) agrees to service of process in any legal proceeding by sending copies thereof by registered or certified mail, if practicable (postage prepaid), or by telex or facsimile to the other party at the address set forth in the Customer Account Application (where service of process is being made by (FXOPTIMAX LTD) ) ;
(iii) waives any objection which it may have at any time to the laying of venue of any Proceeding brought in any such court, waives any objection which it may have at any time to the laying of venue of any Proceeding brought in any such court, waives any claim that such Proceeding have been brought in an inconvenient forum, and
(iv) further waives the right to object, with respect to such Proceeding, that such court does not have jurisdiction over such part.
This Customer Agreement shall be accepted by (FXOPTIMAX LTD) and will become a legally binding contract between Customer and (FXOPTIMAX LTD) when the Customer Application is filled out in its entirety, and when all documents including the Customer Agreement, signed by the Customer, and accepted and signed by a qualified representative of (FXOPTIMAX LTD).
Trading in margined foreign exchange involves a high degree of risk including the risk of loss of the Customer’s entire Risk Capital. Losses, in some cases, have the potential to extend beyond the Customers Account Value. (FXOPTIMAX LTD) requires all the undersigned Customer(s) to analyze their financial objectives, financial status, investment constraints and tax situation to determine whether OTC Foreign Exchange trading is suitable. In addition, we require our Customers to carefully and acknowledge the (FXOPTIMAX LTD) Risk Disclosure Statement that outlines without limitation the risks associated with trading margined foreign exchange through (FXOPTIMAX LTD). By signing this Agreement the Customer understands and agrees that:
By signing the Risk Disclosure Statement, the Customer(s) agrees that they are in full understanding and willing to assume the legal, economic, and other risks associated with the trading in margined OTC Foreign Exchange, and are willing and able to assume the loss of their entire Risk Capital, defined as those funds, that if lost, would not change your lifestyle or your family's lifestyle. As such, they further agree that margined OTC Foreign Exchange trading is not suitable for Retirement Funds. (FXOPTIMAX LTD) encourages Customers to closely manage outstanding open positions and to use prudent money management precautions such as, but not limited to, Stop Loss Orders.
By signing the Risk Disclosure Statement, the Customer(s) aggress that using a high degree of leverage, defined as the use of a small amount of capital to control a larger amount of an Open Position, can result in large losses due to a price change(s) of open Foreign Currency Contract(s). (FXOPTIMAX LTD) encourages its Customers to use only that portion of leverage that the Customer is most comfortable with and to use money management precautions such as, but not limited to, Stop Loss Orders for the purpose of limiting risk. (FXOPTIMAX LTD) reserves, at its sole discretion, the right to reduce or increase the amount of leverage given on any Currency Pair at any time and without notice.
By signing the (FXOPTIMAX LTD) Risk Disclosure Statement, the Customer acknowledges that Liquidity Risk, resulting from decreased liquidity of a currency pair, is usually due to unanticipated changes in economic and/or political conditions. Customer also acknowledges that Liquidity Risk can affect the general market in that all participants experience the same lack of buyers and/or sellers. When liquidity decreases, Customers can expect, at the minimum, to have wider bid to ask spreads as the supply of available bid/ask prices, outstrips the demand. Decreases in liquidity can also result in "Fast Market" conditions where the price of a currency pair moves sharply higher or lower or in a volatile up/down pattern without trading in an ordinary step-like fashion. In some instances, there may exist the possibility that a trading bid and/or ask price for a foreign exchange pair or pairs are not available (a situation where there is no liquidity). Although there may be instances when the aggregate OTC foreign exchange market enters a "Fast Market" situation or periods where liquidity is in short or no supply, it is important to note that, the Platform’s prices, bid/ask spreads and liquidity will reflect the prevailing interbank market liquidity. Customer’s who do not have adequate margin will have their accounts liquidated: Because of the leverage available with OTC Margined Foreign Exchange Trading and the potential for extreme volatility, (FXOPTIMAX LTD) reserves the sole discretionary right to liquidate Customer’s Account(s) should the Margin in the Account not be sufficient to cover the potential risk of loss. (FXOPTIMAX LTD) graphically shows the Customer’s Liquidation Level on the Customers (FXOPTIMAX LTD) Margin Monitor.
Customer is solely responsible for making all appropriate arrangements with any telecommunications suppliers or, where access to the Platform is provided through a third party server, any such third party, necessary in order to obtain access to the Platform. (FXOPTIMAX LTD) will not accept orders over the telephone. In the event of an emergency loss of internet access, (FXOPTIMAX LTD) may be able to take a close order over the telephone. There exists the risk that the Customer will not be able to contact or make contact with the (FXOPTIMAX LTD) representative due to but not limited to, communication malfunction or any other malfunction. The Customer acknowledges and agrees that they will hold harmless (FXOPTIMAX LTD), its technology partners and technology providers for any loss or missed trading opportunity resulting from any communication problems the Customer may encounter. Any given price by a (FXOPTIMAX LTD) representative over the telephone prior to execution is considered indicative. (FXOPTIMAX LTD) reserves the right to change the indicative price given over the phone if the actual dealing price is different due to market conditions, misquote or volatility. (FXOPTIMAX LTD) is not responsible for Customer telephone orders if the Customer cannot be heard or understood by the (FXOPTIMAX LTD) representative due to, without limitation, accent, speech defect, faulty connection, or excessive background noise at the Customers location or at (FXOPTIMAX LTD). To better insure execution, (FXOPTIMAX LTD) requires that Customers communicate in English when giving orders. (FXOPTIMAX LTD) cannot guarantee that telephone orders given in a foreign language will be executed.
Should a Customer grant a Third Party Account Manager trading discretionary trading authority or control over a Customers Account, the Customer acknowledges that (FXOPTIMAX LTD) does not take any responsibility for any action done by that Third Party on the Customer’s behalf. The Customer grants Third Party trading authority for the Customers Account at it sole, and full risk. (FXOPTIMAX LTD) reserves the right to correct any deals executed on misquoting errors: In the case when a quoting error occurs that results in a Customer deal done at an off-market price, (FXOPTIMAX LTD) reserves the sole discretionary right to make the necessary corrections and adjustments to the Customer’s Account whether it be in the favor of the Customer or not in the Customer’s favor. Any change will be reported to the Customer either verbally or via an electronic method such as but not limited to email.
Any decision by the Customer to buy or sell a Foreign Currency pair is an independent decision by the Customer. Market recommendations made by (FXOPTIMAX LTD) or a representative of (FXOPTIMAX LTD) do not constitute an offer to sell or buy any Foreign Currency pair from (FXOPTIMAX LTD) or from any other source that may provide dealing prices to the Customer. (FXOPTIMAX LTD) and it’s employees are not investment advisor(s) and has no fiduciary duty to Customer and therefore is not liable for any losses incurred by the Customer as a result of information or any recommendations made by (FXOPTIMAX LTD) or representative of (FXOPTIMAX LTD). Customer is at Risk if (FXOPTIMAX LTD) should go out of Business. There is no guarantee that (FXOPTIMAX LTD) as a business will be profitable. Consequently, there exists a credit risk that (FXOPTIMAX LTD) may be subject to losses, which could, in turn, jeopardize the capital that the Customers have in their Accounts. Customer acknowledges that in the event of insolvency, the Customer can only look to (FXOPTIMAX LTD) for performance and return of all Collateral and Margin that the Customer may have at (FXOPTIMAX LTD).
The Customer agrees and acknowledges that (FXOPTIMAX LTD) may liquidate all Customer positions, and return margined funds to the Customer at the sole discretion of (FXOPTIMAX LTD), at any time and for any reason. (FXOPTIMAX LTD) Customers do not hold (FXOPTIMAX LTD) liable for any loss as a result of liquidation of the Customers position either on an actual basis or as a result of missed profit opportunities.
Any reporting and confirmation errors of omission, and/or errors in details of transactions including but not limited to the price contracts were executed, the currency pair traded, the market direction (i.e. ”buy” or “sell”) of order, the type of order and/or any errors in fees, charges or credits to the Customers Account including but not limited to charges for executing a transaction, wiring funds, rolling over position, and sweeping foreign currency balances into the home currency, require that the customer notify (FXOPTIMAX LTD) immediately upon discovery for review. In addition, the Customer is responsible to submit any errors in writing to (FXOPTIMAX LTD) and send the complete details to Attn: Customer Objections, by Email to email@example.com. Notice shall be deemed received only if return receipt requested.
The Customer agrees and acknowledges that (FXOPTIMAX LTD) and its technology partners and technology providers shall not be liable to the Customer for any claims, losses, damages, costs or expenses, including attorneys’ fees caused directly or indirectly by any events, actions or omissions, without limitation, claims, losses, damages, costs and expenses, including attorney’s fees, resulting from civil unrest, war, insurrection, international intervention, governmental action (including, without limits, exchange controls, forfeitures, devaluations and nationalizations), natural disasters, acts of God, market conditions, communication problems or any delay, disruption, failure of any transmission or communication system or computer hardware or software application whether supplied and belonging to (FXOPTIMAX LTD) or from a third party vendor that the Customer and (FXOPTIMAX LTD) relies on to conduct execution and reporting services.
(FXOPTIMAX LTD) makes no representations as to requirement of the (FXOPTIMAX LTD) or the Customer to register with any regulatory body or agency. (FXOPTIMAX LTD) assumes no responsibility for an action taken by any regulatory body or agency against a Customer arising from services provided by this Agreement. Customer acknowledges that it has had an opportunity to have this Agreement reviewed by legal counsel of its choosing. Customer acknowledges, represents and warrants that (FXOPTIMAX LTD), its technology partners and technology providers are not a counterparty under this Agreement and do not assume any responsibilities associated with a counterparty in the FOREX market or otherwise. This representation shall not be deemed waived by any action or inaction taken by (FXOPTIMAX LTD), its technology partners and technology providers, or the Customer at any time during the term of this Agreement.
All Customers are required to read, understand and adhere to these rules and regulations. (FXOPTIMAX LTD) reserves the right to change any rules or regulations at its sole discretion and at any time. Trading Hours :
• The (FXOPTIMAX LTD) normal trading week begins at 21:00 on Sunday and ends at 20:59 on Friday (time are subject to change.)
• (FXOPTIMAX LTD) reserves the right at its sole discretion to conduct special technical maintenance times when trading electronically may not be available.
Deposits can be made by several payment methods accepted by FXOPTIMAX LTD via MYFXOPTIMAX. Funds are not available for trading until they clear at the counterparty bank and posted to the Customer’s trading account.
All bank fees such as wire transfer fees into and out of the account will be debited to the Customer’s trading account as they occur. In instances where the Customer is closing an account with instructions to wire the remaining balances, the wire transfer fee will be deducted from the final account balance forwarded to the Customer.
All deposits are accepted in U.S. Dollars only. Customers from foreign countries have the option to convert the foreign currency into US Dollars before wiring to the (FXOPTIMAX LTD) clearing bank, or wire foreign currencies to our clearing bank at which point our clearing bank will convert the balances into US Dollars at their current conversion rate for that currency.
Before any payment from an account is made, the Customer is required to complete (FXOPTIMAX LTD) withdrawal procedure.
Under NO CIRCUMSTANCES will (FXOPTIMAX LTD) accept a payment or deposit into an account by a person or entity other than the person or entity whose name appears on the Account.
Under NO CIRCUMSTANCES will (FXOPTIMAX LTD) make payment to a person or entity other than person or entity whose name appears on the Account.
Under NO CIRCUMSTANCES will (FXOPTIMAX LTD) transfer funds from one account with (FXOPTIMAX LTD) to another account at (FXOPTIMAX LTD) with different Account Authorization information.