Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                

Forex Management Agreement

Download as pdf or txt
Download as pdf or txt
You are on page 1of 5
At a glance
Powered by AI
The key takeaways are that this document outlines an agreement between a client and PATPAMMFX CAPITAL for PATPAMMFX CAPITAL to manage the client's forex trading account.

The purpose of this agreement is to have PATPAMMFX CAPITAL retain as a trader to direct transactions on behalf of the client involving the purchase and sale of foreign currencies subject to the terms and conditions set forth in the agreement.

PATPAMMFX CAPITAL has full discretionary authority over the client's account without prior consultation or approval from the client. They can issue instructions to buy and sell currencies and generally perform any acts related to managing the account.

PATPAMMFX CAPITAL

FOREX ACCOUNT MANAGEMENT AGREEMENT


Final Released Version: Doc.Version.1.0

This agreement is made between PATPAMMFX CAPITAL referred to as, (Trader) and,
_____________________________ (hereinafter referred to as Client) this ___ day of ______________, 2017.

WHEREAS, the Clients desires and is permitted to engage in speculative trading in over-the-counter foreign
exchange market.

WHEREAS, the Clients represents that he has speculative capital for the principal purpose of trading in Forex
Transactions and has been informed and is fully cognizant of the possible high risks associated with such
investments. As used in this Agreement, Forex Transaction shall mean any transaction involving the purchase
and sale of foreign currencies in the inter-bank market.

WHEREAS, the Clients desires to have PATPAMMFX CAPITAL retain as trader to direct transactions on behalf
of the Clients involving the purchase and sale of foreign currencies subject to the terms and conditions set forth
herein.

WHEREAS, the Clients has asked PATPAMMFX CAPITAL as trader to make investment decisions for the
Clients in the terms and conditions set forth herein.

NOW THEREFORE, in consideration of the above recitals, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

I. CLIENT TRADING ACCOUNT. Client will open a Foreign Exchange trading account (the Account) with
PATPAMMFX CAPITAL as trader with an initial deposit of at least five thousand U.S. dollars ($5,000.00)
with one of our prime brokerage partner provided you agree the terms and condition implemented by the
broker upon opening an account. The initial deposit, subsequent deposits and withdrawals from the
Account, and all transactions effected in the Account shall be subject to this Foreign Exchange
Management Agreement. Customer may add to the case balance of the Account at any time. Client
agrees to give PATPAMMFX CAPITAL at least twenty-four to fourty eight hours prior notice before
de/allocating any funds from the Account and withdrawing funds from the Account. All provisions of the
Client Agreement between PATPAMMFX CAPITAL and Client shall remain in full force and effect and
shall control.

II. AUTHORIZATION OF MANAGERS. Client authorizes PATPAMMFX CAPITAL to enter orders on behalf
of the Account for Forex Transactions. Further, Client authorizes PATPAMMFX CAPITAL, in
PATPAMMFX CAPITALs sole discretion, to retain and dismiss one or more traders individually and
collectively to place orders for Forex Transactions with sole account and risk of the Client. Clients
agrees to execute a Limited Trading Authorization and Power of Attorney with one of our prime
brokerage partners authorizing PATPAMMFX CAPITAL as trader the authority to transact Foreign
Transactions in Clients Account. PATPAMMFX CAPITAL shall have discretionary authority to make all
trading decisions for the Account without prior consultation with Client and/or without prior notice or
approval from Client with respect to such trading decision. Client will not enter any orders in the Account
and will not authorize or permit any other person to do so unless such person is appointed by
PATPAMMFX CAPITAL as traders. All Forex Transactions that are entered by the trader may be entered
in the traders sole discretion, without prior notice to, or consent of, the Client.

COPYRIGHT 2017 - 2018


A trader shall have the power and authority to:

a. issue instructions to purchase or sell or otherwise deal in Forex Transactions for the account and
risk, and in the name of, the Client;
b. purchase from or sell to our brokerage partner the specified foreign currencies for the account and
risk, and in the name of, the Client; and
c. (iii) generally perform any other act incidental to the foregoing; provided, however, that such
authority shall not include the power to order any payment, in U.S. dollars, any foreign currency,
or otherwise, to the trader not otherwise agreed to herein.

III. TRADING STRATEGY. In managing the Account, PATPAMMFX CAPITAL agrees to use its best
judgment and efforts for the Clients benefit. However, the parties agree that the Client shall bear all risk
of gain or loss in the Account and all expenses of the Account. No assurance can be given that either
PATPAMMFX CAPITALs advice that will result in profits or will not result in losses for the Client. If the
realized and/or unrealized losses exceed 50% of the Client's deposit(s) to his account with our prime
brokerage partner, as of the end of any business day, PATPAMMFX CAPITAL will cease trading in that
account immediately and contact Client for instructions. PATPAMMFX CAPITAL and its trader may use
stop-loss orders; however, in the event that a stop-loss order is placed, there can be no assurance that
the stop-loss order will protect the Account against losses.

IV. REPORTS & RECORDS. PATPAMMFX CAPITAL shall furnish to the Clients daily reports detailing all
transactions either profits or losses as defined below experienced by the Assets under Management.

V. COMPENSATION. PATPAMMFX CAPITAL shall receive a performance fee of 40% shares based on
Net Asset Value above the high water mark of the capital be calculated for each month. We employ high
watermark calculation to determine each subsequent fee. If the next billing period arrives and you have
not profited above your previous watermark, you will not be billed until that watermark is breached. We
do not calculate swap, taxes or commission when determining your fees.

VI. RISKS. All Forex Transactions directed by the traders hereunder shall be in the name and for the
account and risk of the Clients. The Client understands and acknowledges that Forex Transactions
involve conflicts and a substantial risk of loss due to, among other factors, the fact that such transactions
are executed through PATPAMMFX CAPITAL acting as a principal; that Forex Transactions generally
are not regulated by banking authorities or other regulatory agencies; that trading in Forex Transactions
may be highly illiquid and an unusually wide spread may exist between the price at which a counterparty
is willing to purchase and sell particular foreign currencies; and that credit controls may be imposed by
governmental authorities or other actions taken by governmental authorities which may significantly
increase for the risk of loss to the Client or affect the ability of any party to fulfill its obligations to the
Client. The Client further acknowledges that PATPAMMFX CAPITAL makes no guarantee whatsoever
that the Forex Transactions contemplated hereunder will be profitable or will not result in losses.

VII. CONFLICT OF INTEREST. (a) PATPAMMFX CAPITAL and its traders may manage the accounts of
clients. If PATPAMMFX CAPITAL and traders place the same or similar orders at or about the same time
for its clients accounts, all such accounts may compete for the same or similar positions and, depending
upon whose order is placed first, the difference in timing may result in some accounts receiving better
prices than other accounts. (b) In addition, PATPAMMFX CAPITAL and the traders may have a conflict
of interest in rendering advice to Client because the financial benefit from managing other clients
accounts may be greater, which may provide an incentive to favor such other accounts. While
PATPAMMFX CAPITAL and the traders might have an incentive to favor another client over Client,
neither PATPAMMFX CAPITAL nor the traders will knowingly do so. (c) A potential conflict of interest
exists in that PATPAMMFX CAPITAL profits due to commission generated by trading volume.

COPYRIGHT 2017 - 2018


VIII. REPRESENTATIONS AND WARRANTIES.

(a) PATPAMMFX CAPITAL represents and warrants the following to the Client:

(1) PATPAMMFX CAPITAL is a group of retail traders in the name of PATPAMMFX CAPITAL.

(2) PATPAMMFX CAPITAL has the power to execute and deliver this Agreement and any other
documentation relating to this Agreement and to perform its obligations under this Agreement and has taken
all necessary action to authorize such execution, delivery and performance. Such execution, delivery and
performance do not violate or conflict with any law applicable to PATPAMMFX CAPITAL or any order or
judgment of any court or other governmental agency, or any contractual restriction binding on or affecting
PATPAMMFX CAPITAL.

(b) The Client represents and warrants the following to PATPAMMFX CAPITAL:

(1) The Client is aware of the highly speculative nature of, and risks of loss inherent in, Forex Transactions
and is financially capable of engaging in such trading.

(2) The Client has significant additional assets beyond the value of the Account and any funds that may in
the future be committed to the Account. Further, Clients represents and warrants that he is financially able to
accept the risks of Forex Transactions and to bear the loss of the funds deposited in the Account.

(3) The Client acknowledges that it, and not PATPAMMFX CAPITAL or the traders, is responsible for making
any and all margin payments and paying all commissions and other fees, costs, and expenses charged to
the Account.

(4) The Client acknowledges that any losses from the transactions in the Account are the sole responsibility
of Client and not PATPAMMFX CAPITAL or the traders.

(5) The Client acknowledges that PATPAMMFX CAPITAL makes no guarantee or representation that the
Account will be profitable.

(6) The Client, if an entity, is duly formed under the laws of the jurisdiction in which it is organized. The
Client, if an individual, is of legal age to be bound by this Agreement and is legally competent, and that no
other person has, or will have as a result of any action of Client, any interest in or right to the Account,
except as fully disclosed to PATPAMMFX CAPITAL in the Account Agreement.

(7) The Client warrants that funds being deposited and traded have not originated from any illegal activity.

(8). The Client acknowledges that PATPAMMFX CAPITAL is not qualified to give, and has not given, any
advice with respect to the tax treatment of profits or losses in the Account.

IX. RELATIONSHIP OF THE PARTIES. PATPAMMFX CAPITAL is an independent contractor and this
Agreement shall not be deemed to establish a joint venture between PATPAMMFX CAPITAL and the
Client and nothing herein contained shall be construed as creating a general partnership or other similar
relationship or as authorizing any party to act as general agent or to enter into any contract or other
agreement on behalf of any other party except as otherwise expressly provided herein.

X. STANDARD OF LIABILITY AND INDEMNITY. PATPAMMFX CAPITAL shall not be liable to Client or to
any third party except by reason of acts that constitute gross negligence, bad faith or intent to defraud.
Client will indemnify, hold harmless, and defend PATPAMMFX CAPITAL and its members against any
liability, loss cost, damage, or expense and any amount paid in settlement thereof to which any of them
may become subject to in acting pursuant to or in furtherance of this Agreement or in connection with
any transaction for the Account.

COPYRIGHT 2017 - 2018


XI. TERM OF AGREEMENT. Either party may terminate this Agreement at any time upon at least three
business days prior written notice to the other. Upon receipt of a notice of termination from the Client on
verbal or written, or if PATPAMMFX CAPITAL gives notice of termination to the Client, PATPAMMFX
CAPITAL shall work with the Client in good faith to use its best efforts to assure to the extent 6
practicable that there is an orderly wind-down of positions in the Account. Once notice of termination is
received, PATPAMMFX CAPITAL shall liquidate all Account positions as promptly as practical.

XII. NOTICES. All notices or other communications shall be delivered personally or sent by registered mail,
return receipt requested and shall be effective when delivered personally on the day delivered, or when
given by fax or by registered or certified mail on the day of receipt. Notices intended for PATPAMMFX
CAPITAL shall be sent to the attention of PATPAMMFX CAPITALs management and addressed to
PATPAMMFX CAPITAL trading center.

XIII. WAIVERS AND AMENDMENTS. None of the provisions of this Agreement may be amended or waived
except by a written instrument duly executed by the party to be charged therewith. No waiver of any right
or remedy or any breach of or default under any provision of this Agreement shall constitute a waiver of
any other right or remedy for any breach of or default under any other provision or of any other breach of
or default under the same provision.

XIV. SERVICES NON-EXCLUSINVE; CONFIDENTIALITY. PATPAMMFX CAPITAL present Forex


investment includes managing accounts for investors in Forex Transactions and providing advice on
Forex Transactions, and PATPAMMFX CAPITAL will be managing accounts for other clients during the
same period that it is managing the Account. PATPAMMFX CAPITALs services provided hereunder are
not exclusive and PATPAMMFX CAPITAL, its principals and affiliates shall be free to render similar
services to others, and to manage other clients accounts and to use the same or other information,
trading programs or formulae and trading strategies which they obtain, produce or utilize in the
performance of services for the Client. The Client recognizes that the results obtained by PATPAMMFX
CAPITAL from time to time for such other accounts may be more favorable than the results obtained for
the Client. The Client acknowledges that PATPAMMFX CAPITAL may charge fees for its services for
other accounts different from those charged to the Client and that trading for accounts other than the
Clients Account may increase the level or competition with respect to Forex Transactions. The Client
acknowledges that the advice given by PATPAMMFX CAPITAL is the confidential property of
PATPAMMFX CAPITAL, and the Client will not disclose the same to third parties without the prior
consent of PATPAMMFX CAPITAL. The Client will use any such confidential information solely to
monitor PATPAMMFX CAPITALs performance on behalf of the Client. Nothing in this Agreement shall
require PATPAMMFX CAPITAL to disclose the details of its trading systems and strategies.

XV. NO WAIVER. No provision of this Agreement may be waived or amended unless the waiver or
amendment is in writing and signed by both Clients and an authorized officer of PATPAMMFX CAPITAL.
No waiver or amendment of this Agreement may be implied from any course of dealing between the
parties or from any failure by PATPAMMFX CAPITAL and its traders right under this Agreement on any
occasion or series of occasions. No oral agreements or instructions to the contrary shall be recognized
or enforceable. This instrument and the attachments hereto embody the entire agreement of the parties,
superseding any and all prior written and oral agreements and there are no other terms, conditions or
obligations other than those contained herein.

XVI. ASSIGNABILITY. This Agreement shall not be assignable by Client. Any assignment by PATPAMMFX
CAPITAL to another entity shall be valid and enforceable. PATPAMMFX CAPITAL shall also have the
right to assign to any third party its right to collect and/or bring an action for any amounts owing to it
under this Agreement.

COPYRIGHT 2017 - 2018


XVII. AGREEMENT BINDING. This Agreement shall be binding upon the heirs, executors, administrators,
successors and assigns of the parties hereto.

XVIII. MISCELLANEOUS PROVISIONS. Whenever necessary in this Agreement and where the context
admits, the singular term and related pronoun shall include the plural and vice-versa, and the masculine
and neuter terms shall be interchangeable. The section headings contained herein are for reference
purposes only and shall not in any way affect the meaning or interpretation of this Agreement. Any
captions appearing in this Agreement are inserted as a matter of convenience and for reference only and
shall not define, limit, or describe the scope and intent of this Agreement or any of the provisions thereof.
This Agreement may be executed in counterparts, each of which shall constitute an original and all of
which, when taken together, shall constitute one agreement.

XIX. ACCEPTANCE. The parties agree that this Agreement shall not be deemed to have been accepted or
become a binding contract between Client and PATPAMMFX CAPITAL until approved and signed by
PATPAMMFX CAPITAL authorized representative.

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the
date first above written.

_____________________________ ________________________________
Investors Name Forex Account Manager

PRIME BROKERAGE SELECTION

Selection 1

HF Markets Ltd.
Allocated Amount: _____________ US Dollar

Selection 2

Pepperstone Group Limited


Allocated Amount: _____________ US Dollar

Selection 3

Trading Point Holdings Ltd.


Allocated Amount: _____________ US Dollar

Please email to patpammfxcapital@gmail.com. If you have any questions contact us with our direct line.
(+639)43 072 6057

COPYRIGHT 2017 - 2018

You might also like