Client Application
Transcription
Client Application
MANAGED ACCOUNT APPLICATION CLIENT INFORMATION To be completed by authorized officers in the company or individuals, must be the same as the trading account that is opened or will be opened by the company or individual. Trading Account Title (Company or Individual): PE RS O N AL PA R T IC U LA R S Full Name: NRIC No. / PP No. Street Address: City: Apartment/Unit No: Zip Country: Telephone No.: State: Cell Phone No.: E-mail: TR AD I NG AC CO U N T DE T A I LS Alternate Email (if any): Name of Introducer: Foreign Exchange Brokerage Firm: Brokerage Firm Website: Trading Platform: MT4 Account Size: Leverage: User ID: Server: Trading Password: Investor Password: The Jaycees Building, Stoney Ground Kingstown St.Vincent and the Grenadines Vortex Capital Markets hereinafter referred to as "VCM", the undersigned hereinafter referred to as "Client" and together referred to as parties. SECTION 1: ACCOUNT SETUP Client understands that: 1.1. VCM is not a Forex broker and does not own a dealing desk. 1.2. VCM does not accept deposits nor hold client funds for trading. 1.3. Client may open their independent trading accounts at any broker dealer. 1.4. VCM shall take 2-5 working days upon receiving of this form to set up managed account services on the Client’s trading account. SECTION 2: PORTFOLIO TYPE (Refer to vortexcapitalmarkets.com for full description) VCM shall managed the Client's brokerage account under the following selected portfolio: 2.1. Vortex Capital System 1 2.2. Vortex Capital System 2 2.3. Vortex Capital System 3 2.4. Vortex Capital System 4 SECTION 3: TRADING AUTHORIZATION, POWER OF ATTORNEY 3.1. Client acknowledges having received, read and understood the Limited Power-of-Attorney. 3.2. Client having authorized and signed the Limited Power-of-Attorney. SECTION 4: TERM OF SERVICES 4.1. Managed account services take effect on the Trading Commencement Date, but not prior to receiving of Client's brokerage account details and its account balance amount no less than the required minimum, as defined in selected portfolio in SECTION 2. 4.2. Managed account services can be terminated by either party giving to the other not less than fourteen (14) day prior written notice. The Jaycees Building, Stoney Ground Kingstown St.Vincent and the Grenadines SECTION 5: RIGHTS AND RESPONSIBILITIES OF PARTIES 5.1. The Client has the right to: 5.1.1. Withdraw funds from the managed brokerage account anytime only as long as it does not fall below the respective minimum balance requirement as stated in the selected portfolio defined in SECTION 2. 5.1.2. Deposit additional funds to his/her managed brokerage account anytime. 5.1.3. Terminate the agreement any time after all due trading profits payable, fee and costs have been settled. (Section 4.2 applies) 5.2. The Client is obliged: 5.2.1. Not to communicate with VCM or its traders for the purpose of rushing them into making trades. 5.2.2. Not to request VCM or its traders make specific percentage returns or dollar amounts. 5.2.3. Not to call VCM or its traders to discuss trading, strategy or trades made. 5.2.4. To accept all profit and losses from trades executed according to the terms of the portfolio selected. 5.2.5. To pay due Performance Fees within the stipulated time as specified in the portfolio. 5.2.6. Not to trade or intervene in the trading account managed by VCM, which includes changing of Master Trading password. 5.3. VCM has the right to: 5.3.1 Manage and trade the Client's MT4 brokerage account and its funds mentioned above in this agreement, according to the trading strategy selected by the Client in SECTION 2. 5.3.2. Change the Master login password of the Client's MT4 brokerage account. The Client will still be able to login via the brokerage firm's web account. 5.3.3. Use margin and leverage to its discretion. 5.3.4. Suspend or halt managed accounts service activities on Client's brokerage account, when: The Jaycees Building, Stoney Ground Kingstown St.Vincent and the Grenadines a) The Forex Market is closed for trading. b) Currency trading has been suspended for any reason. c) The market conditions are unfavorable for trading on the Forex market. d) The funds for management in the Client's brokerage account is insufficient for the execution of Forex spot margin trades. e) Due to withdrawals, the funds for management in the Client's brokerage account is below the minimum required balance as stated in the selected portfolio defined in SECTION 2. A 30-day grace period will apply for Client to fulfill minimum balance before this agreement is terminated. 5.4. Profit is non-guaranteed at any point of time, and VCM is not liable for any trading losses. 5.5 For any reason if the Client request to temporary halt trading services, a 30-day grace period will be given from the date when the trading stops. After 30-day grace period, VCM will terminate this agreement. SECTION 6: PERFORMANCE FEES 6.1. VCM is entitled to a share of trading profits, known as Performance Fee, payable as stated in the selected portfolio. 6.2. VCM will invoice the Client on its share of profits at the end of the trading month. Performance fee payable is to be paid by the 10th of the succeeding month, unless otherwise stated on the invoice. 6.3. VCM has the right to terminate or suspend managed account services and trading activities on Client's trading account if the Client fails to fulfill performance fee due payable. VCM will not be liable for any unclosed trading positions and its consequence. 6.4. High-water mark will apply before billing the Client for performance fee. Performance fee will be based on the amount above the last high watermark of the prior month, less any withdrawals. 6.5. The Client acknowledges and understands that VCM trading strategy can be aggressive. Stop losses may be used to limit the Client's downside risk however, that's not guaranteed to limit the loss to the intended amount. Trading losses may occur, a total loss of principle is possible. There are no refunds of any kind when the Client lose money. The Jaycees Building, Stoney Ground Kingstown St.Vincent and the Grenadines SECTION 7: HIGH WATER MARK 7.1. For account with trading losses, high-water mark will apply on prior month’s ending trade balance less withdrawals, to recover the losses before charging Client for performance fee. 7.2. Switching of trading portfolio systems will not affect the high-water mark in place. 7.3. If due to trading losses, the trading balance is lower than the minimum requirement stated in the selected portfolio as defined in SECTION 2, no top-up is required of the Client. 7.4. Trading account with balance below minimum requirement due to trading losses, will not be allowed further withdrawals. Else, high watermark will not be applicable, and VCM will terminate this agreement after a 30-day grace period. 7.5. Once this agreement is terminated, any high-water mark will not be applicable thereafter. The Jaycees Building, Stoney Ground Kingstown St.Vincent and the Grenadines CLIENT ACCEPTANCE The Undersigned ("Client") acknowledges having read, understood and accept fully the rights and obligations stated in this application. The undersigned hereby attest(s) and certifies that the information in this application is completed and accurate. The undersigned hereby authorize(s) Vortex Capital Markets to verify any or all of the foregoing information. Print Name: Signature: Date: Please email this completed form to [email protected] The Jaycees Building, Stoney Ground Kingstown St.Vincent and the Grenadines