Carefully read through all this Customer Trading Agreement for individual opening account at FWCFX, this agreement is a Customer Electronic Trading Agreement, once the Customer(s) agree to this Customers Trading Agreement and logging to the trading platform the Customer(s) is bound to this Customer Trading Agreement and the Trading Terms and Conditions.
Opening Account Processing
Please note that the Customer Trading Agreement and the Trading Terms and Conditions must be read and reviewed carefully.
Procedures for Opening Individual Trading Account
To aid the government's fight against the funding of terrorism and money laundering activities, requires all financial institutions to obtain, verify and record information that identifies each person who open an account (trading account). Carefully fill out this Customer Trading Agreement by typing. Make sure all data is complete, accurate, clear and readable, then print it out and sign in all the designated signature areas.
Any person who, knowingly and with intent to defraud FWCFX or its affiliates, submits an account application or other information containing any materially false information or conceals, for the purpose of misleading, information concerning any related fact material, commits a fraudulent act, which is a crime which may subject such person to criminal prosecution and the imposition of criminal and civil penalties. If you intentionally provide us with any false or misleading information and we suspect fraud, we will communicate the facts surrounding your communication to us to all relevant national, state and local law enforcement authorities.
Risk Disclosure Statement
STATEMENT The Customer(s) requires be aware of the risks involved in trading Over The Counter (OTC) market. This statement does not disclose all of the risks and other significant aspects of trading in futures, leveraged foreign exchange, stock index, CFD (contracts for difference) and commodities. In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationship) into which you are entering and the extent of your exposure to risk. Trading in futures, leveraged foreign exchange, stock index, CFD and commodities may not be suitable for many members of the public. You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives. In considering whether to trade, you should be aware of the following:
Off-exchange transaction and limited liquidity
Futures, leveraged foreign exchange, stock index, CFD and commodities transaction are conducted, not on a regulated futures or commodities exchange, but through an over the counter (OTC) "spot market" or "futures market" that is often referred as the "inter-bank system". This system consist of a large network bank, clearinghouses and other institutional participants that futures, leveraged foreign exchange, stock index, CFD and commodities positions with other members of the network. In a errantly unregulated environment of this sort, there can be no guarantees of the credit worthiness of the counter party to any particular futures, leveraged foreign exchange, stock index, CFD and commodities transaction executed on your behalf by FIRST WEALTH CAPITAL. Every reasonable attempt will, however, be made by FIRST WEALTH CAPITAL to deal exclusively with reputable and credit worthy banks, clearinghouses and other institutional network participants in executing and hedging your futures, leveraged foreign exchange, stock index, CFD and commodities may cease entirely, thereby precluding the liquidation position in that futures, leveraged foreign exchange, stock index, CFD and commodities held by you, which may result in a substantial financial loss in your Account.
Trading on Margin is very risky
Futures, leveraged foreign exchange, stock index, CFD and commodities trading is highly speculative and is suitable only for those who (i) understand and are willing to assume the economic, legal and other risks involved, and (ii) are financially able to assume losses significantly in excess of margin or deposits. Foreign currency prices are highly volatile. Price movements of futures, leveraged foreign exchange, stock index, CFD and commodities are influenced by, among other things, interest rates, changes in balance of payments and trade, domestic and international rates of inflation, international trade restrictions and currency devaluations and revaluations. For example, there can be serious market disruptions if economic or political events locally or overseas affect the market. It is not possible to foresee all risks in advance. You represent, warrant and agree that you understand these risks; that you are willing and able, financially and otherwise, to assume the risks of futures, leveraged foreign exchange, stock index, CFD and commodities trading and that the loss of your entire Account balance will not change your life style. You recognize that guarantees of profit or freedom from loss are impossible of performance in OTC trading. You acknowledge that you have received no such guarantees from FWCFX or from any of its representatives or any introducing agent or other with whom you are conducting your FWCFX account and have not entered into this customer trading agreement inconsideration of or in reliance upon any such guarantees or similar representations.
Effect of "Leverage" or "Gearing" Effects of 'Leverage' or 'Gearing'
Transactions in futures, leveraged foreign exchange, stock index, CFD and commodities carry a high degree of risk. The amount of initial margin is small relative to the value of the futures, leveraged foreign exchange, stock index, CFD and commodities contract so that transactions are "leveraged" or" geared". The high leverage and low margin can result in significant losses due to price changes in futures, leveraged foreign exchange, stock index, CFD and commodities market. A relatively small market movement will have a proportionately larger impact on the funds that you have deposited or will have to deposit; this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with FWCFX to maintain their position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.
Risk-reducing orders or strategies.
The placing of certain orders (e.g., "stop-loss" orders or "stop-limit" orders) that are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. At times, it is also difficult or impossible to liquidate a position without incurring substantial losses. Strategies using combinations of positions, such as "spread" and "straddle" positions may be as risky as taking simple "long" or "short" positions.
Terms and conditions of contracts
Customer should ask about the terms and conditions of the specific futures, leveraged foreign exchange, stock index, CFD and commodities contract which you are trading and associated obligations (e.g., the circumstances under which you may become obligated, under extraordinary circumstances, to make or take physical delivery of the underlying interest of a futures, leveraged foreign exchange, stock index, CFD and commodities transaction and, in respect of options, expiration dates and restrictions on the time of exercise of the full currency value). Suspension or restriction of trading and pricing relationships Market conditions (e.g., lack of liquidity) and/or the operation of the rules of certain markets (e.g., suspension of trading in any futures, leveraged foreign exchange, stock index, CFD and commodities contract because of government intervention or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions.
Limitation of liability (risk of loss)
All transactions affected for Customer's Account and all fluctuations in the market prices of the futures, leveraged foreign exchange, stock index, CFD and commodities transactions carried in Customer's Account are solely at Customer's risk, and Customer shall be solely liable therefore under all circumstances. Customer represents and warrants that Customer is willing and financially able to sustain such losses, and that the trading are suitable for Customer. FWCFX is not responsible for the delays in the transmission, delivery or execution of Customer's orders due to malfunctions of communications facilities or systems or other causes beyond FIRST WEALTH CAPITAL reasonable control or anticipation. FWCFX shall not be responsible for the actions or non-actions of agents selected by FWCFX in good faith or appointed at the request of Customer, whether such action and or non-action amounts to negligence or inability on the part of the relevant agent.
Deposited cash and property
Customer should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.
Commission and other charges before Customer begin to trade, you should obtain a clear explanation of all commissions, fees, cross-currency, stock index, CFD and commodities overnight interest debits, mark-ups, mark-downs and other charges for which you will reliable. These charges will affect your net profit (if any) or increase your loss.
Transactions in other jurisdictions Futures, leveraged foreign exchange, stock index, CFD and commodities transactions executed in other jurisdictions may expose you to additional risk. Such markets may be subject to regulation, which may offer different or diminished investor protection. Before you trade you should inquire about any rules relevant to your particular transactions. Your local regulatory authority, if any, will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been effected. You should ask the firm with which you deal for details about the types of redress available in both your home jurisdiction and other relevant jurisdictions before you start to trade.
Currency, Stock Index, CFD (Contact for Different) and Commodities risks. The profit or loss in transactions in foreign currency, stock index, CFD and commodities-denominated contracts (whether they are traded in your own or another jurisdiction) will be affected by fluctuations in currency rates, stock index, CFD and commodities where there is a need to convert from the currency denomination of the contract to another currency.
Trading facilities Futures, leveraged foreign exchange, stock index, CFD and commodities contracts are not traded on a regulated market and therefore do not require open-outcry facilities. The electronic trading facilities through which futures, options, leveraged foreign exchange, stock index, CFD and commodity contracts are primarily traded are supported by computer-based component systems for the order-routing, execution or matching of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses maybe subject to limits on liability imposed by the system .provider, the market, the bank and/or financial institution. Such limits may vary; you should ask the firm with which you deal for details in this respect.
Pricing information Customer acknowledges: (i) any information communicated to Customer by FWCFX or by any person within the company, does not constitute an offer to sell or the solicitation of an offer to inter into an Futures, leveraged foreign exchange, stock index, CFD and commodities transaction, (ii) such information, although based upon information obtained from sources believed by FWCFX to be reliable, may be incomplete and may be unverified, and (iii) FWCFX makes no representation, warranty or guarantee as to, and shall not be responsible for the accuracy or completeness of any information furnished to Customer. Customer acknowledges that FWCFX and/or its officers, directors, affiliates, associates, members or representatives may have a position in or may intend to buy or sell futures, leveraged foreign exchange, stock index, CFD and commodities, which are the subject of market information furnished to Customer. Customer acknowledges that FWCFX makes no representations concerning the tax implications or treatment of transactions.
Electronic trading on a particular electronic trading system may differ not only from trading in the inter bank market but also from trading on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. Disclaimers:
Customer Trading Agreement
Please carefully read this legal customer trading agreement.
This Customer Trading Agreement (the "agreement") sets forth the terms and conditions governing your Account at FWCFX, whereby in this Trading Agreement is referred to as "FIRST WEALTH CAPITAL" or "FWCFX". On the other hand, the other party executing this Customers Trading Agreement as Customer(s)/Client(s) is referred to as "Customer" or "You". The principal purpose of this Customer Trading Agreement is to provide you, Customers, with certain basic background facts concerning your Account with FIRST WEALTH CAPITAL and the transactions that you contemplate conducting therein. connection with applying to open a Trading Account with FWCFX providing services to Customer in connection to engage in transactions with relating to purchase and/or sale of futures, options, foreign currencies (hereinafter referred to as" leveraged foreign exchange"), contract for differences (hereinafter referred to as "CFD"), stock index futures (herein after referred to as "Stock Index"), gold, silver and oil (hereinafter referred to as "Commodities") executed in the inter-bank foreign exchange market or otherwise in the forex, CFD, stock index futures and commodities spot market. Customers hereby acknowledge that he or she has been advised of and understands the following pertinent factors concerning futures, leveraged foreign exchange, stock index, CFD and commodities transaction as conducted in such an Account, in addition to those described in this Customer Trading Agreement and the Risk Disclosure Statement appended thereto :
Customers agrees and acknowledge that Customer alone is fully responsible for making all final decisions as to futures, leveraged foreign exchange, stock index, CFD and commodities transaction executed for Customer's Account. Customers has considered the foregoing factors and in view of Customer's present and anticipated financial resources, Customer is willing and able to assume the substantial financial risk attendant on futures, leveraged foreign exchange, stock index, CFD and commodities transactions. Customers agrees and acknowledge with FIRST WEALTH CAPITAL (FWCFX) as follow :
Customer authorizes FWCFX to purchase and sell futures, leveraged foreign exchange, stock index, CFD and commodities contracts for the Customer's account in accordance with Customer's oral or written or online/electronic (internet) instructions of Customer, FWCFX shall be authorized to execute all futures, leveraged foreign exchange, stock index, CFD and commodities market purchase and sale orders placed with it by Customer and hedge such transactions with such counter party banks, clearing houses and/or other financial institutions participating in the futures, leveraged foreign exchange, stock index, CFD and commodities as FWCFX deems appropriate in its sole and absolute discretion. All futures, leveraged foreign exchange, stock index, CFD and commodities market purchase and sale transactions conducted in Customer's Account with FWCFX under this Customer Trading Agreement (the "Agreement"), shall be in conformance with the trading terms and conditions of the Contract Specifications, Margin Deposit and Withdrawal Policies, and Trading Procedures, the contents of which are hereby incorporated herein by this reference.
2. Governmental, Counter Party, Institution and Inter-Bank System Rules
All transactions shall be subject to the constitution, by-laws, rules, regulations, customs, usages, rulings and interpretations of the exchange, board of trade, contract market or other market (and its clearing house, if any) where executed. If any statute, rule or regulation shall hereafter be adopted by any governmental authority, exchange, board of trade, clearing house, or self regulatory organization which shall be binding upon FWCFX and shall be inconsistent with or otherwise affect in any manner 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 all such provisions as so modified shall in all respects continue in full force and effect during the term hereof. Customer hereby acknowledges that all futures, leveraged foreign exchange, stock index, CFD and commodities transactions conducted in the Account shall be subject to the aforementioned legal and regulatory requirements, but that Customer shall not thereby be given any private right of action or any other independent legal or contractual rights with respect to the enforcement of such requirements.
3. Margin Deposit Requirements
Customer shall deposit to and maintain with FWCFX margin in such amounts and in such forms as FWCFX, in its sole and absolute discretion, from time to time may determine. Such margin requirements established by FWCFX may be exceed or lesser than the amount of margin required by any counter party utilized by FWCFX to hedge any particular futures, leveraged foreign exchange, stock index, CFD and commodities transaction. FWCFX may change the applicable margin requirements at any time and for any reason. Customer agrees to deposit by wire transfer or bank/cashier's check such additional margin when and as required by FWCFX, and will promptly meet all margin calls made against the Account in such mode of transmission as FWCFX shall in its sole and absolute discretion designate, provided, however, that notwithstanding the tendency of any such demand for additional margin, FWCFX may at any time proceed to liquidate Customer's Account in accordance with section 7 below, and any failure to proceed shall not be deemed a waiver of any rights by FWCFX. No previous margin requirement as maintained by FWCFX shall preclude FWCFX from increasing that requirement without prior notice. FWCFX shall not be liable to Customer for the loss of any margin deposits which is the direct or indirect result of the bankruptcy, in solvency, liquidation, receivership, custodianship or assignment for the benefit of creditors of any bank, another clearing broker, exchange, clearing organization or similar entity.
4. Acceptance and Execution of Orders
FWCFX expressly retains the absolute right to limit the number of open positions that Customers may acquire or maintain in the Account, and otherwise to refuse or reject, in its sole and absolute discretion, any orders for futures, leveraged foreign exchange, stock index, CFD and commodities transactions that Customer may attempt to place in the Account. FWCFX shall attempt in good faith to efficiently execute all futures, leveraged foreign exchange, stock index, CFD and commodities transactions orders of Customer which FWCFX, in its sole and absolute discretion, chooses to accept, in accordance with the oral or written or online/electronic (internet) instructions of Customer as applicable. Customer hereby expressly acknowledges that prices for futures , leveraged foreign exchange, stock index, CFD and commodities contracts in the market (as purchased or sold, or subject to purchase or sale, in such market "futures, leveraged foreign exchange, stock index, CFD and commodities contracts may vary substantially from participant to participant, and from minute to minute, and that it may consequently prove impossible to execute market orders at even an approximation of prices quoted by certain market participants at the time that an order for a futures, leveraged foreign exchange, stock index , CFD and commodities transaction is executed for the account.
5. Automatic Rollover and Voluntary Liquidation of Account Positions
Except as otherwise provided herein, or in the Trading Procedures as in effect from time to time, unless Customer provides to FWC written or oral or online/electronic (internet) instructions to liquidate an open futures, leveraged foreign exchange, stock index, CFD and commodities position in the Account (each, a " futures, leveraged foreign exchange, stock index, CFD and commodities Position") in accordance with the subsequent provisions of this section 5, that position will be automatically rolled-over as an open position in the Account to the next business day, successively, subject at all times to the right of FWCFX, in its sole and absolute discretion, to liquidate said position in accordance with the provisions of this Agreement, including, without limitation, the provisions of Section 7 below. A futures, leveraged foreign exchange, stock index, CFD and commodities position in the Account may be settled or liquidated at any time by means of either (i) entering into an offsetting futures, leveraged foreign exchange, stock index, CFD and commodities transaction or (ii) making or taking delivery of the specified quantities of futures, leveraged foreign exchange, stock index, CFD and commodities .In order to liquidate an open futures, leveraged foreign exchange, stock index, CFD and commodities position in the Account by selling or purchasing, as applicable, an equal and opposite offsetting futures, leveraged foreign exchange, stock index, CFD and commodities Contract, the oral or written or online/electronic (internet) instructions must be given to FWCFX by Customer. Alternatively, in order to liquidate an open futures, leveraged foreign exchange, stock index, CFD and commodities position in the Account by means of delivering, or taking delivery, of the underlying currency, the oral or written or online/electronic (internet) instructions to this effect must be given to FWCFX, together with sufficient funds and all documents necessary to effectuate this mode of settlement.
6. Collateral and Security; Hypothecation Agreement
(a). All funds, securities, futures, leveraged foreign exchange, stock index, CFD and commodities contracts, and other property of Customer which FWCFX 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 or their possession or control or carried on its or their books for any purpose, including safekeeping, whether or not held in the Account, are to be held by FWCFX as security for the full performance by Customer of Customer's obligations hereunder, and shall be subject to a general lien in favor of FWCFX and right of set off for all liabilities of Customer to FWCFX, from time to time, FWCFX in its sole discretion, without prior notice to Customer, apply and/or transfer any or all funds or other property of Customer between or among any of Customer's Accounts with FWCFX. (b). All property carried for Customer by FWCFX shall be segregated, Customer hereby grants to FWCFX the rights to pledge, re pledge, hypothecate, re hypothecate, or invest, either separately or with the property of other Customers, any securities or other property held by FWCFX for the accounts of Customer or as collateral thereof, including without limitation to any exchange or clearing house through which trades of Customer are executed. FWCFX shall be under no obligation to pay to Customer or account for any interest, income or benefit derived from such property and funds or to deliver the same securities or other property deposited with or received by FWCFX for the account of Customer. FWCFX may deliver securities or other property of like or equivalent kind or amount.
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, or the cessation of Customer's ability generally to pay Customer's obligations as they mature or become due; (c) the filing of a levy or an attachment against any of Customer's Accounts carried by (the margin deposited in the Account becoming insufficient to support the futures, leveraged foreign exchange, stock index, CFD and commodities positions maintained therein, or FWCFX determination otherwise in its sole and absolute discretion that any margin deposited to the Account is inadequate, regardless of current market quotations, to secure the Account, whether or not a margin call is made on the Account, and whether or not the Trading Procedures call for FWCFX to make a margin call on the Account in the circumstances then obtaining; (d) Customer's failure to furnish to FWCFX any information requested pursuant to this Agreement; (e) the default by Customer on any pecuniary or other obligation to FWCFX arising under this Agreement; or (f) any other circumstances or developments that lead FWCFX to conclude in its sole judgment that there is a reasonable probability that Customer will not be able to discharge any such obligation timely or at all, FWCFX may, in its sole and absolute discretion, immediately or at any time thereafter, take one or more, or any portion of, the following actions:
8. Commissions and Other Charges
Customer agrees to pay all such brokerage and commission charges and fees as FWCFX may establish and charge to the Customer's Account from time to time. Customers agreed to be liable and all other charges (including, without limitation, futures, leveraged foreign exchange, stock index, CFD and commodities overnight interest debits, Account transfer charges and other charges) and fees (including, without limitation, fees imposed by any bank, contract market or regulatory or self-regulatory organization) arising out of FWCFX providing of services hereunder. FWCFX may at any time change its commission schedule, and increase or decrease the charges and/or fees payable hereunder and there under without notice.
9. Statements and Confirmations
Reports of the confirmation of orders and statements of the accounts of Customer shall be deemed correct and shall be conclusive and binding upon Customer if not objected to in writing within three (3) days after transmittal to Customer by electronic mail (email) or otherwise. Such written objection on Customer's part shall be directed to FWCFX support email, and shall be deemed received only if actually delivered or emailed by Customer's registered email. Failure to so object shall be deemed ratification of all action taken by FWCFX Introducing Broker or agents prior to such reports being furnished to Customer.
Reports, statements, notices and any other communications given hereunder may be transmitted to Customer at the electronic mail address given above in the Account Application portion of this booklet, or to such other address as Customer may from time to time designate in electronic mail writing to FWCFX. All communications so sent, whether by mail, fax, courier, messenger or otherwise, shall be deemed transmitted by FWCFX when deposited or sent in our electronic mail, or, when received by a transmitting agent, and deemed delivered to Customer personally, whether actually received by Customer or not.
11. Limitation on Responbilities and Liabilities, Communication Delay
Customer expressly agrees and acknowledges that FWCFX shall not be responsible for delays in the transmission of execution or purchase or orders, or otherwise be liable in any way to Customer for any failure to meet, or any delay in meeting, FWCFX obligations under this Agreement, due to a breakdown or failure of transmission or communications facilities or internet facilities, electrical power outage, any event traditionally falling within the category of force major or any other cause beyond FWCFX control or reasonable anticipation. Customer hereby expressly agrees and acknowledges that FWCFX shall also not be liable for any actions or inactions of any agent or IB and that FWCFX shall only be liable to Customer hereunder for its own actions or inactions, and only to the extent that such actions or inactions are ascribable to fraud or gross negligence on its part.
12. Futures, Foreign Exchange, Stock Index, CFD and Commodities Fluctuation Risk
Customer specifically acknowledges that all risks of futures, foreign exchange, stock index, CFD and commodity fluctuations as affecting the Account and the value of the spot futures, leveraged foreign exchange, stock index, CFD and commodities positions held therein shall be borne solely by Customer , and, in particular, acknowledges that, any profit or loss arising in the Account from a futures, leveraged foreign exchange, stock index, CFD and commodities transaction as a result of a fluctuation in the spot market for the underlying contract will be entirely for Customer's Account and risk; unless specifically otherwise authorized by FWCFX in an individual case, all initial and additional funds deposited into.The Account for margin purposes shall be made in U.S. Dollars, in such amounts as FWCFX may, in its sole and absolute discretion, require. FWCFX is authorized to convert funds held in Customer's Account for margin purposes in a currency other than U.S. Dollars from such foreign currency into U.S. Dollars at a rate of exchange determined by FWCFX in its sole and absolute discretion on the basis of the then prevailing spot market exchange rate.
13. Risk Acknowledgment - No Guarantee of Profit
Customer hereby expressly acknowledges that an investment in futures, leveraged foreign exchange, stock index, CFD and commodities Contracts, is speculative, involves a high degree of risk and is appropriate only for persons who can assume a risk of loss substantially in excess of their margin deposit. Customer understands that, because of the low percentage margin deposit normally required in futures, leveraged foreign exchange, stock index, CFD and commodities trading, relatively insignificant price changes in futures, leveraged foreign exchange, stock index, CFD and commodities contracts purchased or sold for the Account may result in significant losses, which losses may substantially exceed the amount of Customer's entire margin deposit in the Account. Customer hereby expressly acknowledges that he is aware of the extreme volatility inherent in the trading of futures, leveraged foreign exchange, stock index, CFD and commodities Contracts. Customer warrants that Customer is willing and able, financially and otherwise, to assume the substantial risks of futures, leveraged foreign exchange, stock index, CFD and commodities trading, and, in consideration of FWCFX carrying the Account, Customer agrees not to hold FWCFX responsible in any way for losses incurred as a result of Customer following any trading recommendations or suggestions of an independent Introducing Broker or Agent. Customer recognizes that no guarantees of profit or freedom from loss can be made by anyone with respect to futures, leveraged foreign exchange, stock index, CFD and commodities trading. Customer hereby expressly acknowledges that Customer has received no such guarantees from FWCFX, or from any of their respective representatives or any other person instrumental in Customer's opening of the Account with FWCFX, and Customer has not entered into this Agreement in consideration of or in reliance upon any such guarantees or similar representations. Finally Customer understands that, in as much as futures, leveraged foreign exchange, stock index, CFD and commodities contracts are not traded on an organized exchange or contract market, the substantial investor protections applicable to trading in such contracts will not apply to the Account or the futures, leveraged foreign exchange, stock index, CFD and commodities transactions conducted therein for the benefit and at the risk of Customer. Customer also expressly acknowledges that he has received, read and understands the separate Risk Disclosure Statement relating to the risk in trading commodity contracts.
14. No Liability for Trading Recommendations
Customer hereby expressly acknowledges that (i) any market recommendations and information that may be communicated to Customer by any independent Introducing Broker or Agent from time to time do not constitute an offer to sell or the solicitation of an offer to buy any futures, leveraged foreign exchange, stock index, CFD and commodities contract; (ii) any such recommendations and information, although based upon information obtained from sources believed by FWCFX is to be construed as merely a single individual's opinion, and any such information may well be incomplete and/or factually inaccurate; and (iii) FWCFX makes no representation, warranty or guarantee as to, and shall not be responsible in any way for, the accuracy or completeness of any information or trading recommendation furnished to Customer by any independent Introducing Broker or Agent in connection with the Account. Customer acknowledges that FWCFX and/or their respective officers, directors, partners, affiliates, associates, stockholders or representatives, may have a position in or may intend to buy or sell futures, leveraged foreign exchange, stock index, CFD and commodities which are the subject of market recommendations furnished to Customer in connection with the Account, and that the market positions of FWCFX, or any such officer, director, partner, affiliate, associate, stockholder or representative, may not be consistent with there commendations furnished to Customer in connection with the Account by such persons. Customer acknowledges that FWCFX makes no representations concerning the tax implications or treatment of futures, leveraged foreign exchange, stock index, CFD and commodities Contracts. Customer further acknowledges that, should Customer grant trading authority or control over the Account to a Designated Trading Agent pursuant to the Trading Authorization, whether on a discretionary or non-discretionary basis, FWCFX shall in no way be responsible for reviewing Customer's choice of such Designated Customer Agent nor for making any recommendations with respect thereto. Customer understands that FWCFX makes no representations or warranties concerning the Designated Customer Agent that FWCFX shall not be responsible for any loss to Customer or the Account occasioned by the actions or inactions of the Designated Customer Agent, and that FWCFX does not, by implication or otherwise, endorse or approve of the trading methods of the Designated Customer Agent. If Customer gives the Designated Customer Agent authority to exercise any or all of its rights over the Account, Customer understands that Customer does so solely at Customer's own risk. Customer acknowledges that the provisions of this Section 14 are expressly intended to confer the rights of a third party beneficiary on FWCFX and, as applicable, the independent Introducing Broker or Agent utilized by Customer.
15. Customer's Representations and Warranties
Customer hereby represents and warrants to FWCFX that:(a) Customer is of sound mind, legal age and legal competence; (b) no person other than Customer has or will have any financial interest in the Account; (c) regardless of any subsequent determination to the contrary, Customer meets the financial requirements for futures, leveraged foreign exchange, stock index, CFD and commodities trading and is sophisticated in financial and investment matters; (d) all of the information provided in the Account Application portion of this booklet is true, correct, complete and not misleading in any respect, as of the date hereof and Customer agrees that he will promptly notify FWCFX in writing if any of the representations contained therein materially changes or ceases to be true and correct in any material respect; (e) Customer further represents that he/she is not an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange, any firm registered on any exchange, any futures commission merchant, any introducing broker, or any bank, trust, or insurance company, he will promptly notify FWCFX in writing of such employment.
16. Trading Limitations
FWCFX at any time in its sole and absolute discretion may limit the number of positions which Customer may maintain or acquire through FWCFX. Customer agrees not to exceed the position limits established by any futures, leveraged foreign exchange, stock index, CFD and commodities contract markets, Customer promptly advise FWCFX if required to file any reports on positions.
17. Disclosure of Financial Information
Customer hereby represents and warrants that the financial information of Customer disclosed to FWCFX in the Account Application is a full and accurate representation of Customer's current financial condition. Customer hereby represents and warrants that in determining Customer's Net Worth, the Assets and Liabilities were carefully calculated, and Liabilities were then subtracted from Assets to determine the value that Customer has included in such financial information as Net Worth. Customer hereby represents and warrants that in determining the value of Assets, Customer included only cash and/or cash equivalents, and other marketable securities on a marked-to-market basis, real estate owned (excluding primary residence), the cash value of life insurance and other assets readily susceptible of objective valuation. Customer hereby represents and warrants that in determining the value of Liabilities, Customer Included notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages (including on primary residence) payable and all other debts and quantifiable obligations. Customer hereby represents and warrants that in determining Liquid Assets, Customer included only those assets that can be quickly (i.e., within one day's time) converted to cash. Customer hereby represents and warrants that Customer has very carefully considered the portion of Customer's assets which Customer considers to be properly allocable to Risk Capital, i.e., the amount of money that Customer is willing to put at risk which, if lost, would not, in any way, change Customer's life style. Customer agrees to immediately inform FWCFX if Customer's financial condition changes in such a way as to reduce Customer's Net Worth, Liquid Assets and/or Risk Capital.
18. Absence of Side Agreements; Unauthorized Transactions
Customer hereby acknowledges that Customer has no separate agreement, written or oral, with FWCFX, any affiliate of FWCFX, or any employee of either, or any independent Introducing Broker or Agent, regarding trading in the Account, including, without limitation, (i) any agreement to guarantee profits or limit losses in the Account, or (ii) any agreement to share profits generated or losses incurred in the Account. Customer expressly agrees that Customer will notify FWCFX immediately in electronic mail (writing) as to any agreement of this type that Customer may hereafter be solicited to enter into. Further, Customer agrees that any representations made by anyone concerning the Account that differ from any statements Customer receives from FWCFX shall be brought to the attention of FWCFX immediately in electronic mail (writing). Customer understands that Customer must authorize specifically every futures, leveraged foreign exchange, stock index, CFD and commodities transaction in the Account prior to its execution. Customer hereby agrees to indemnify and hold FWCFX harmless from all damages and liability resulting from Customer's failure to immediately notify FWCFX of any of the occurrences referred to herein as requiring such notification.
19. No Waiver or Amendent
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 FWCFX. No waiver or amendment oft his Agreement may be implied from any course of dealing between the parties or from any failure by FWCFX or any of its agents to assert its rights under this Agreement on any occasion or series of occasions.
20. Governing Law and Jurisdiction
This agreement and its enforcement and the rights and obligations hereunder of the parties hereto shall in all respect be governed by the laws of the Nevada US. No action, regardless of form, arising out transactions under this agreement may be brought by Customer more than one year after the cause of action arose. Wherever possible, each provision of this agreement shall be interpreted in such a manner as to be valid and effective under applicable law, but If any provision of this agreement shall be prohibited by or is invalid under such law, such provision shall be ineffective to the extend of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this agreement.
21. Binding Effect
This Agreement shall be continuous in operation during its term, and shall cover, individually and collectively, all Accounts of Customer at any time opened or reopened with FWCFX, irrespective of any change or changes at any ime in the personnel of FWCFX, or its successor, assigns, or affiliates. This Agreement, including all authorizations and collateral documents executed in connection therewith, shall inure to the benefit of FWCFX and its successors and assigns, whether by merger, consolidation or otherwise, and shall be binding upon Customer and the estate, executors, administrators, heirs, devisees, legatees, legal representatives, trustees, conservators, successors and permitted assigns of Customer. Customer hereby agrees not to assign the Account or any interest therein, or encumber in any way any open futures, leveraged foreign exchange, stock index, CFD and commodities positions or their assets held therein, without the prior written consent of FWCFX.
22. Term and Termination
This Agreement shall continue in effect until terminated and may be terminated (i) by Customer at any time when Customer has no open futures, leveraged foreign exchange, stock index, CFD and commodities positions in the Account and no liabilities held by or owed to FWCFX, upon the actual receipt by FWCFX at its home office of written notice of such termination, or (ii) at any time whatsoever by FWCFX upon the transmittal of written notice of such termination to Customer; provided, however, that such termination shall not affect any transactions previously entered into hereunder and shall not relieve either party of any obligations theretofore a rising under this Agreement, nor shall it relieve Customer of any obligations arising out of any deficit balance in the Account.
Customer hereby agrees to indemnify and hold FWCFX, its subsidiaries and affiliates, and its and their employees, agents, successors and assigns, harmless from and against any and all liabilities, losses, damages, costs and expenses, including attorneys' fees, incurred by FWCFX arising out of Customer's failure to fully and timely perform Customer's obligations herein or the failure of any of the representations and warranties made by Customer herein to be true, correct and complete. Customer also agrees to pay promptly to FWCFX all damages, costs and expenses, including attorneys' fees, incurred by FWCFX in the enforcement of any of the provisions of this Agreement and any other agreements between FWCFX and Customer.
24. Electronics recording
Customer agrees and acknowledges that FWCFX, in its sole and absolute discretion that all conversations, whether telephonic or face-to-face, regarding the Account between Customer and representatives of FWCFX may be electronically recorded with or without the use of an automatic tone or other 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 FWCFX relating to the Account. Customer understands that FWCFX may destroy such recordings relating to the Account at regular intervals
25. Gross trade consent
Customer hereby expressly acknowledges and agrees that a situation may arise from time to time whereby an officer, director, partner, affiliate, associate, employee, independent contractor, bank, bank employee, dealer or other person .associated with FWCFX may be the opposing counter party or broker for a futures, leveraged foreign exchange, stock index, CFD and commodities transaction conducted in the Account. In addition, FWCFX or an affiliate may, when appropriate, take as principal the opposing side of a futures, leveraged foreign exchange, stock index, CFD and commodities transaction conducted in the Account for which it is also acting as Customer's agent pursuant to the terms hereof. Customer hereby expressly consents to any such transaction described in the foregoing portion of this Section 25, subject to the limitations and conditions applicable thereto, if any, contained in the rules or regulations of any exchange, board of trade, contract market or spot market upon which the underlying buy or sell orders are executed, or of any institutional participant therein, and subject to the limitations and conditions, if any, contained in any applicable rules and regulations of regulatory or self-regulatory agency.
26. Introducing broker
If Customer's Account is carried by FWCFX only as a clearing broker, Customer acknowledges that FWCFX is not responsible for the conduct, representations and statements of the introducing broker or its associated persons in the handling of Customer's Account. Customer agrees to waive any claims against FWCFX, and to indemnify and hold FWCFX harmless, for any actions or omissions of the introducing broker or its associated persons.
27. Inactive accounts
Customer hereby expressly acknowledges that if Customer does not place a trade during any twelve (12) month period, and there are no futures, leveraged foreign exchange, stock index, CFD and commodities transaction held in Customer's Account, the Account may be automatically removed from FWCFX system. Customer will thereafter be required to re-establish an Account prior to placing any further trades, and FWCFX may require additional documentation from Customer to reactivate such Account.
28. English as principal language
This customer trading agreement may be translated into other languages but, in the event of any in consistency or ambiguity as to the meaning of any word or phrase in any such translation, the English text shall prevail.
29. Terms and headings
As respectively used in this Agreement, unless the context otherwise provides, the term "FWCFX" shall be deemed to include FIRST WEALTH CAPITAL its subsidiaries and its and their successors and assigns. The term "Customer" shall mean each party (or parties) executing this Agreement as Customer; and the term "Agreement" shall include, in addition to this Agreement, all other agreements and authorizations executed by Customer in connection with the maintenance of the Account regardless of when executed. The Section 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. In this Agreement, unless inconsistent with the context, words denoting persons shall be deemed to include persons other than natural persons, words denoting the masculine gender shall be deemed to include the feminine and neuter, and vice versa, and words denoting the singular number shall be deemed to include the plural number, and vice versa.
THIS IS A BINDING CONTRACTUAL AGREEMENT. DO NOT SIGN UNTIL YOU HAVE READ AND CONSIDERED THE FOREGOING AND THE RISK DISCLOSURE STATEMENT APPENDED HERETO CAREFULLY. NEITHER FWCFX, NOR ANY OF THE I.B.'s and INDEPENDENT AGENT IS QUALIFIED TO GIVE LEGAL ADVICE REGARDING THIS AGREEMENT. CUSTOMER IS THEREFORE ADVISED TO SEEK INDEPENDENT LEGAL COUNSEL BEFORE SIGNING THIS AGREEMENT. This agreement shall be deemed to be accepted by FWCFX become a binding contract between Customer and FWCFX until approved at FWCFX registered office by its authorized officers. The undersigned acknowledges having received, read and understood the foregoing Customer Agreement.
Your privacy on the internet is very important to FIRST WEALTH CAPITAL ("FIRST WEALTH CAPITAL", "we", "our" or "us"). The success of our business depends upon our ability to maintain the trust of our customers. As part of the operation of FIRST WEALTH CAPITAL (FWCFX), we gather certain types of information about our users, and we would like to explain the types of information we gather, what we do with it and how you can correct or change the information. Please note that this policy applies only to FIRST WEALTH CAPITAL (FWCFX) and not to other companies or organisations to which we refer to on such websites through banners or links.See more
This website contains information regarding the services and products of FWCFX. This material is provided for information purposes only and no information contained herein constitutes a solicitation for the purpose of purchase or sale of any futures trading product, leveraged foreign currencies exchange, stock indices, CFD's and commodities nor should it serve as the basis for any investment decision. FWCFX does not guarantee the accuracy or completeness of any information or analysis supplied and shall not be liable to any customer or third person for the accuracy of the information or any market quotations supplied through this service to a customer, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service.See more
Foreign exchanges, metals and other over-the-counter products, carry a high level of risk and may not be suitable for all customers. FWC's not liable for any effect which might occur from trading activities achieved by customer(s). For more details, please acknowledge and understand FWC's Trading Agreement. The services and products offered by FWCFX were not intended for citizens, tax residents and or corporations under the laws of United States of America (USA) and or Canada. All offices maintained within US are administrative offices only.