MANAGED ACCOUNT'S TERMS OF USE
1. Authorization
Client authorizes The Agent to act as his/her Trading Agent (Money Manager) and to manage his/her account and risk through the purchase and sale of currency pairs. Client's Account is connected to the Master Account of Trading Agent, which determines the Trading Conditions (Leverage, Spreads, Margin requirements, Stop out Levels, Commissions).
TSB Trading shall not under any circumstances whatsoever be responsible for any liabilities, losses, damages, costs or expenses, arising there from. TSB will not in any way be liable or responsible for any buy or sell trading actions done on the Client's behalf. Even though the Client granted trading authority to another, The Client should be diligent to closely scrutinize what transpires in the account. If the Client has any questions, he/she will contact TSB immediately.
TSB Trading shall have full authority for the trading concerned. Client acknowledges and understands that TSB is not authorized to withdraw any money, securities, or other property in the name of the undersigned other than the 20% commission of the net profit realized by TSB Trading.
Client acknowledges that his/her personal data and trading history may be disclosed in a reasonable range to the Trading Agent. The information may include any of the information held in TSB´s register, such as Client’s name, address, trading account information and trading history. Data may be disclosed to countries inside or outside the European Union or European Economic Area.
2. Risks
Client acknowledges and understands that trading is very risky and may result in losses. Client also acknowledges that TSB Trading has a risk assessment put in place to protect Client’s capital. TSB takes a 1 - 1.5% risk on every trade and has a 15% drawdown at all times. Client is solely and exclusively responsible for understanding the trading objectives and risks of the Trade management and acknowledges and agrees that TSB is responsible for any extra loss that may or may not conform these objectives as mentioned before.
3. Remuneration
Client understands that TSB Trading will charge a 20% commission of the gross profit realized for the client. Compensation will be in the form of commissions, management, and performance. Client agrees that TSB is authorized to deduct these fees from Client's account.
The performance fee is calculated based upon the equity in the end of every winning trade. However there will be a 20% reimbursement on negative trades which will reflect on Client´s personal trading account.
4. Deposits and Withdrawals
The Client will retain complete control of their funds and account. Client´s funds are held strictly in "segregated accounts" with worldwide top tier banks. Client understands that deposits and withdrawals can be made only after all open trades have been closed and no trading takes place. Client understands that he/she can withdraw full amount at any time directly from there online account. If the Client requests a withdrawal from his/her account, the transfer will be processed within 24 hours. The Client agrees and understands that all fees are debited from his/her trading account prior to requested withdrawal.
5. The Validity and Termination of Limited Power of Attorney (LPOA)
The authorization is a continuing one and shall remain in full force and effect until it is terminated by Client. Client understands the termination can come into force only when all open trades have been closed. There shall be no contract between TSB Trading and Client of terminating of business relationship.
6. Corporate Accounts
We offer company corporate accounts to our clients, please contact us for further information on requierements.
Anti-Money Laundering Policy
TSB Trading actively complies with all anti-money laundering and anti-terrorism laws and regulations to the fullest extent that it can, under all applicable domestic and foreign laws.
TSB Trading will typically return funds to the source account and will always return funds to the same beneficial owner. Should you request funds be returned to an account other than the originating source, the withdrawal will be processed at the discretion of TSB Trading. In accordance with our regulatory obligations, additional documentation may be required at any time for internal periodical reviews.
NOTE:
TSB Trading is the trading name of Omtao Trading Inc. with registration number 4726075, New York City. Supervised by the Commodity Futures Trading Commission, ensuring the integrity of the Futures & Swaps Markets.
Connections, terminations and withdrawals are processed only during office hours - from 8.00 a.m. to 6.00 p.m. Monday to Friday (Finnish time, GMT + 2). There may be some changes due to holidays or Daylight Saving Time (GMT + 3).
