The Trading Agent (“Agent”) will act as attorney-in-fact to access Client’s
trading account (“Account”) held with Kridex, and/or its affiliates(Collectively,
“Kridex”) for the purpose of placing orders to purchase and sell (including short
sales) foreign Currencies and other financial contracts and on margin or
otherwise for the Client’s account and risk. The Client hereby agrees to
indemnify and hold Kridex harmless for all Losses, indebtedness and liabilities
arising there from. Kridex is authorized to follow the instructions of the said
Trading Agent in every respect concerning the Client’s Account foreign currency
and options account the(“Account”) with Kridex, except that said a trading Agent
is not authorized to withdraw any money or other Property from the Account,
either in the name of the Client or otherwise. The Client hereby ratifies and
confirms any and all transactions with Kridex heretofore and hereafter made by
the said trading Agent on behalf of or for the account of the Client. This power
of attorney is a continuing one and shall remain in full force and effect until
revoked by the Client by a written notice addressed and delivered to Kridex and
delivered to Kridex at the office where the Client’s account is carried, but such
revocation shall not affect any Liability in any way resulting from transactions
initiated prior to such revocation.
Client Indemnity.
The Client hereby agrees to indemnify and hold (“Kridex”), harmless for all
losses, indebtedness and liabilities arising from any transactions
executed on the Client’s account or otherwise arising out of or related to the
exercise of powers granted pursuant to this document. This authorization
and indemnity shall inure to the benefit of Kridex and its successors and
agents.
Client-Agent
Relationship.
Client understands that Kridex and its officers, employees and agents will
not control Agent’s actions, are in no way responsible for any loss to
Client caused by the actions of Agent and that Kridex does not, by implication or
otherwise, endorse the operating methods of Agent. Client further
understands and agrees that Agent is the direct agent of the Client and
not of Kridex.
Agent’s Activity.
Client understands that copies of all statements, notices and
correspondence relating to Client’s account shall be provided to trading
agent, and that trading agent shall have the authority to acquiesce in the
correctness of statements on Client’s behalf. Because the risk factor is
high in spot foreign currency trading and trading other financial
contracts, only genuine "risk" funds should be used in such trading. If Client
does not have the risk capital the Client can afford to lose, Client
should not trade in the spot foreign currency market or in other financial
contracts. Client acknowledges that all funds to be used in conjunction with
Client’s account are risk capital. No "safe" trading system has ever been
devised, and no one can guarantee profits or freedom from loss. In fact no one
can even guarantee to limit the extent of losses.
Even though the Client has granted trading authority to another, the Client
should be diligent to closely scrutinize
transactions in the account. If the Client has any questions, the Client
should contact Kridex immediately.
Revocation of
Authority.
The trading authorization over the Client’s account terminates only upon
written revocation by the Client or the Agent holding the authorization.
Therefore, if for any reason, the Client wishes to revoke the trading
authorization, which the
Client has given, please bear in mind that the Client can do so via email
by contacting:Support@kridex.com.
Agent
Compensation.
The Client understands that Kridex may provide compensation to Agent from
the revenues generated by trading done by Agent on the Client’s behalf
and that such compensation may be on a per-trade basis.
The Client understands that such compensation may create a conflict of interest
for Agent, in that Agent will have an incentive to make trades on orders to
generate compensation. Client understands and accepts this conflict of interest,
waives any and all objections to such conflict of interest, and agrees to hold
harmless and indemnify Kridex for any losses or liability incurred arising out of
or related to such conflicts.
Note: % of Profits will be based on month over month achievements
Kridex is authorized and directed to pay from the Account any fees which are
so invoiced to Kridex by the Agent.
Kridex is under no obligation to determine the accuracy or appropriateness
of the Agent’s invoice; rather, Kridex
may rely and act upon the Agent’s invoice without further inquiry. It is
understood and agreed that Kridex shall not be required to pay any funds as a
result of the Agent’s invoice if there are not sufficient funds in the account.
The Client and Agent shall jointly and severally indemnify and hold harmless
Kridex against and from any loss suffered or liability incurred (including
reasonable attorneys’ fees) by reason of any act or omission made in compliance
with the authorization contained herein. This fee payment authorization shall
remain in full force and effect unless and until expressly revoked or modified
by Client in writing, by email or certified mail, at least five business days
prior to the date the revocation is to become effective. Kridex may, in its sole
discretion, decline to act in accordance with this authorization at any time.
The indemnification and hold harmless shall continue to be effective after
revocation for any actions or omissions by Kridex prior to the effective date of
the revocation.
NOTICE TO CLIENT:
Even though you have granted trading authority to another, you should be aware
of the
trading activity in your account. Once your account is opened, Kridex will send
you, via e-mail, a user ID and
password so you can access reports and account statements by logging into our
electronic trading platform. You can see your account net profit or loss in all
contracts closed. You should carefully review these statements.
*Fund Manager allocates to accounts which are members of the fund manager
on a percentage basis. This percentage of allocation is calculated as the
percent of an individual customer’s equity versus the total equity in the fund.
These percentages are calculated automatically when the master account closes an
order. Any account which is a member of the Fund Manager at 17:00 GMT on any
given day will receive allocation for the following 24 hours. All requests to
exit a manager must be submitted to Kridex by 13:00 GMT. If requests are made
after 13:00 GMT, it is possible that customer will receive allocation for an
additional day and will be exited from the Fund Manager the following day at
17:00 GMT.
Trading foreign exchange markets carry a substantial risk of loss and may
not be suitable for everyone. Only genuine "risk" funds should be used in such
investments. Past performance reports and records do not guarantee future
performance, statistics or estimated returns. No one can guarantee profits or
freedom from loss as well as any guarantee to limit the extent of losses.
All clients must ensure that they understand fully the risks involved and
do not invest money they cannot afford to lose. The information provided can
under no circumstances be considered as a recommendation to engage in any trade
or investment, investors are advised to carefully consider this form of
investment before entering this programme.