I don't know whether what depth trade does is legal or not, I don't know him, I'm not a lawyer, nor up on the details here.
Then why are you commenting? The only one dragging this on is you and you won't be here in a matter of months anyhow, your account will be wiped out. Guaranteed.
I have traded bonds for a firm on the 13th floor of the Chicago Mercantile Exchange, I know what I am doing and talking about.
"Agent has furnished Customer with a signed written statement explaining Agent’s exemption from applicable registration and disclosure documents requirements of the
Commodity Futures Trading Commission, the National Futures Association, and/or approvals, licenses, registration and permits
from other applicable government or regulatory authorities."
Power of Attorney for FXTrade™ Managed Accounts
Email to
[email protected]
Or fax to +1 212 208 4356
The undersigned FXTrade customer (“Customer”) authorizes __________________________________________________ _ (“Agent”)
to act as Customer’s agent and attorney-in-fact with full power and authority to manage and trade Customer’s allocated funds from
FXTrade Managed Account number _________________ (“Account”) with OANDA Corporation (“OANDA”) in Customer’s name, and
for Customer’s account and risk, and with the same authority and effect as Customer acting personally. This authorization shall include,
without limitation, trading in over-the-counter foreign exchange contracts and other commodities and/or options thereon in the Account,
on margin or otherwise.
Customer authorizes OANDA to follow Agent’s instructions in every respect concerning the Account. Customer hereby ratifies
and confirms any and all transactions in the Account that are made based on such instructions, either prior to or subsequent to the
execution of this Power of Attorney (“POA”). Customer further authorizes OANDA to make available to Agent all information
pertaining to the Account.
Agent represents, and Customer acknowledges, that Agent has provided to Customer the disclosure document concerning Agent’s
trading advice and strategies which Customer has read and understood or, in the alternative, Agent has furnished Customer with a
signed written statement explaining Agent’s exemption from applicable registration and disclosure documents requirements of the
Commodity Futures Trading Commission, the National Futures Association, and/or approvals, licenses, registration and permits
from other applicable government or regulatory authorities. Customer understands and agrees that OANDA makes no
representation as to the qualifications, experience or regulatory authorization of Agent or lack thereof, and will not control
Agent’s actions. OANDA does not, by implication or otherwise, endorse the operating methods of Agent. Customer further
understands and agrees that Agent is the agent of Customer and not of OANDA. Customer acknowledges that Agent may also act
as agent for other parties and may not be the exclusive agent of Customer unless otherwise agreed between Customer and Agent.
Customer confirms that he/she has agreed directly with Agent as to the amount and payment terms of compensation for Agent's
services including, without limitation, all management or maintenance fees, performance or incentive fees and/or advisory fees
(collectively “Fees”). Agent acknowledges that it is not authorized to withdraw any money, securities, or other property from the
Account either in its own name or in the name of the Customer or otherwise, save and except for the agreed upon Fees. Customer
authorizes OANDA to pay Fees, as calculated by Agent, to Agent from the Account without the need for independent verification
by OANDA. Customer releases OANDA from any and all loss, costs, damages, expenses or disputes arising out of or related to
the calculation and payment of Fees.
Customer hereby releases OANDA, its directors, officers, shareholders and employees (the “OANDA Parties”) from any and all
liability to Customer, and anyone claiming through Customer, with respect to any and all losses, damages, liabilities and/or
expenses of any kind or nature whatsoever (“Damages”) sustained or alleged to be sustained as a result of: (i) OANDA following
Agent’s instructions; (ii) all actions of Agent regarding the Account; and/or (iii) any other matter arising out of the relationship
between Agent and Customer, even if resulting from Agent’s default, gross negligence or willful misconduct, and Customer shall
indemnify the OANDA Parties from any and all Damages arising therefrom.
Even though Customer has granted Account authority to Agent, Customer should be diligent and frequently scrutinize the status
of the Account. Customer has the right to request from Agent statements on Account status and details regarding the overall
management of the Account, and Agent agrees to provide, upon Customer's request, such statements and details.
Customer acknowledges that the risks of trading foreign exchange and other commodity instruments is high and that only genuine
"risk" funds should be used in such trading. If Customer does not have capital that Customer can afford to lose, Customer should
not trade in these markets. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss
or to limit the extent of losses.
This POA is a continuing one and shall remain in full force and effect until revoked; (i) by Customer or Agent upon written notice
to OANDA sent to the email address or fax number at the top of this document, or (ii) by OANDA upon notification to Customer and
Agent at the e-mail address on file with OANDA. Revocation shall not affect any liability in any way resulting from transactions
initiated prior to such effective date. This POA shall inure to the benefit of OANDA, its agents, successors and assigns.
Each of the undersigned agrees to be bound by this Power of Attorney. Customer acknowledges having received, read and
understood this POA and the risks described herein, and certifies that he/she has the financial resources to enter this POA.
This POA supersedes any oral or written communications, representations or agreements between Customer and OANDA
or between Agent and OANDA and is governed by the laws of the State of New York.
Customer Signature _____________________________ Print Name _________________________ Date ________________
Agent Signature ___________________________________ Print Name ____________________________Date _________________
OANDA Corporation Power Of Attorney August, 2008
