FOREIGN EXCHANGE TRADING ACCOUNT CONTRACT (“FOREX” ACCOUNT) BETWEEN AXIS STRATEGIC GROUP Columbus Centre, Road Town, Tortola VG1110, British Virgin Islands, PO Box 2283 T: 00507 3403536 (hereinafter “AXIS Strategic Group”). AND Full Name: ____________________________________________________________________________ Address: _____________________________________________________________________________ (Hereinafter “The Client”) 1. Interpretation This document (hereinafter "the Agreement") is the contract containing the terms and conditions that apply to the relationship and all transactions between Axis Strategic Group and its The Clients. By signing the Agreement, the Client confirms that he wants to benefit from the services of Axis Strategic Group and accepts the terms and conditions of the Agreement. The Client declares that all information provided in the account opening process is true and can be verified by Axis Strategic Group. In this Agreement, the following words and expressions shall have the following meaning: - Account: refers to each and every one of the accounts opened by Axis Strategic Group at the request of the Client. - Agreement: Is this document. It includes as an integral part of the same the accounts opening application, statements and all agreements and documents to be granted in connection with the account, and the changes and additions from time to time made to this Agreement or other contracts and documents referred to in it. - Authorized Person: A person or entity authorized by the Client to give instructions to Axis Strategic Group in accordance with the provisions of clause 3 of the Agreement. - Business Day: Day on which banks and/or foreign exchange market is open for trading. - Market Rules: Laws, regulations, taxes and practices of each organization or market involved in the execution or termination of a transaction involving the account. - Services: The services to be provided by Axis Strategic Group in accordance with this Agreement.
In this Agreement, except where the context indicates otherwise, words in the singular shall include the plural and vice versa, the words in a gender shall include all genders, and the word "person" includes natural persons and legal entities, and headers are for convenience only and shall not affect the interpretation of the contents of paragraphs. 2. Services: Under the terms of this Agreement, the Client gives full power and authority to Axis Strategic Group, so that in his name and for him, it can trade on the international market of foreign exchange ("Forex"), trading Spot and Forwards Forex contracts, currency swaps ("swaps"), and to perform any other services related to transactions that Axis Strategic Group could offer in the future. Overall, Axis Strategic Group will not provide advice to the client. In effect when performing transactions with or for the Client, it shall not be deemed that Axis Strategic Group recommends or agrees with them or that they are convenient for the Client. In the event of a typing error in the prices or mispricing by Axis Strategic Group, it is not liable for the resulting errors in account balances. Axis Strategic Group reserves the right to make necessary corrections or adjustments of the accounts affected. Any dispute shall be settled based on the average market value of the currency in question, at the time the error occurred. The Client acknowledges that some contracts will be affected according and subject to Market Rules. The Client acknowledges particularly that Market Rules usually grant broad powers in an emergency or any other undesirable situation, so if this happens and may affect a transaction, the Client authorizes Axis Strategic Group to take the measures it deems necessary with respect to the transaction, in its sole discretion, to the interests of the client or his own; and waivers all liability for damages or loss resulting from such action. The Client authorizes Axis Strategic Group to determine, based on reasonable judgment, if there exists in the market emergencies or exceptional conditions or an event of "Force Majeure ", in which case Axis Strategic Group may, but is not be required to, inform the Client of the situation. A force majeure event includes, but is not limited to the following: - Any act, event or occurrence, including but not limited to, any interruption in the power supply or electricity, equipment failures, strikes, terrorism or civil commotion; - The suspension or closure of any market or the abandonment or failure of any event related to the quotes which Axis Strategic Group uses, or the imposition of limits or special or unusual terms to the operations of those markets or events; - The occurrence of an excessive movement in the level of any change and/or the relevant market;
3. Instructions All orders, revocations, notices, notifications and instructions imparted by the Client to Axis Strategic Group shall be verbal or in writing, and it shall be deemed that Axis Strategic Group is properly and fully authorized to execute instructions to negotiate purchases or sales, "long" or "short" with margin base or of any other nature, from any person authorized by the Client as they appear in the records of Axis Strategic Group for such purposes. The written instructions will be provided via email, facsimile, Internet or other electronic media, and verbal instructions, in person or by telephone. Axis Strategic Group is not obliged to confirm such instructions. The Client shall inform Axis Strategic Group about the identity of the persons authorized to give instructions to Axis Strategic Group on his behalf, for the purposes covered by this Agreement. Any authorization to third parties to give instructions, may be revoked by giving the Client written notice of it, but will only be effective after Axis Strategic Group acknowledges receipt of such notification. The Client exempts Axis Strategic Group from all liability for damages or losses that may result from a failure of the Client to notify any revocation to Axis Strategic Group. Once the instructions have been given, they may not be rescinded, withdrawn or amended without the consent of Axis Strategic Group International Corp. Axis Strategic Group may, at its sole discretion and without providing notice or justification, refuse to run, or delay the execution of the instructions rendered, and in no event be liable for that reason. The Client shall give timely instructions to Axis Strategic Group that may be required of it with respect to any negotiation or proposal. If the client fails to provide timely instructions, Axis Strategic Group may, at its sole discretion, take such action as deemed appropriate, with costs to be borne by the Client, according to what Axis Strategic Group considers necessary for its own protection or for the protection of the Client. The Client exempts Axis Strategic Group and assumes full and complete responsibility for the consequences, damages, losses, damages or expenses incurred by the Client as a result of the instructions or other communication sent by the Client or authorized person. The Client will be fully responsible for the accuracy of all the information he sends to Axis Strategic Group. The Client hereby ratifies and confirms any and all transactions, operations or negotiations that are executed for their account.
4. Intermediary or Market Selection Axis Strategic Group chooses, in its sole discretion, intermediaries and markets in which to execute instructions given by the Client. The Client exempts Axis Strategic Group from all liability for damages or losses that originate in the intermediary in the transaction. Axis Strategic Group may act as counterparty, on their own or for other clients, in transactions with the Client, and in these cases it can use other funds or clients to execute and settle those transactions. 5. Client Statements The Client declares and agrees that: 4.1 Overall, Axis Strategic Group will not provide advice to the client. In performing transactions with or for the Client, it shall not be deemed that Axis Strategic Group recommends, agrees with it or that it is convenient for the Client. 4.2 Trading foreign exchange carries a high level of risk and an adverse movement in the market can cause a loss to the original deposit amount and consequently the Client, has to face the loss of the amounts sent to Axis Strategic Group as deposits. 4.3 It is the sole responsibility of the Client to obtain tax advice relating to transactions under this Agreement and agrees not to request such advice from Axis Strategic Group. 4.4 The international currency market is not regulated, and although all transactions are executed within the framework of the law, the Client will not be benefited by any regulatory or compensatory regime regarding foreign exchange transactions made through Axis Strategic Group. 6. Deposits and Guarantees Axis Strategic Group will require the Client to make a minimum initial deposit to open an account and may likewise require from the Client to keep a minimum balance in the account once it is opened. The minimum balance is of 1,500.00 usd. These funds will guarantee the payment of any sum of money, at anytime, the Client owes Axis Strategic Group. Additionally, the Client shall deposit the amount agreed as assumed responsibility for their own in each transaction, plus commissions to Axis Strategic Group. There will be no initial margin. Axis Strategic Group does not have the obligation to pay interest on balances in the accounts of the Client. 7. Liability and Risk All transactions are at the risk of the Client, and therefore Axis Strategic Group will not be responsible for losses and damages the Client suffers as a result of such transactions. The maximum liability of the Client shall be limited to funds deposited in guarantee for him.
If at any time the currency contract price moves to the level of guaranteed stop loss, Axis Strategic Group will be entitled to, in its sole discretion and without prior notice, to immediately close the contract. It is understood that if this does not happen, Axis Strategic Group will close the contract value date. The client states that he has read and understood the Risk Statement annexed to this Agreement, which shall be considered as an integral part thereof. 8. Information At the request of the Client, Axis Strategic Group will send reports on the following: - The "Transaction Listing" that contains the transactions made by the Client; - Report on "Open Positions" containing all the Client transactions that have not yet been settled. The Client is responsible for reviewing the information in all correspondence sent by Axis Strategic Group, which shall be considered conclusive unless the Client notified otherwise in writing to Axis Strategic Group within five (5) working days after receipt of the same. Axis Strategic Group reserves the right to determine the validity of the objection. 9. Fees and Charges; Compensation The Client agrees to immediately pay the commissions charged by Axis Strategic Group for any transaction pursuant to the Commissions Table annexed to this Agreement, which shall be considered as an integral part thereof. The Client agrees to pay Axis Strategic Group the following commissions: 9.1 USD$ _______ over the nominal value of each transaction of $100,000 or part thereof. 9.2 _______points (Pips) on the exchange rate of the operation. The Client consents to Axis Strategic Group entering into transactions that generate multiple commissions in the proportion that Axis Strategic Group deems appropriate. These fees will be charged in U.S. Dollars and will be calculated at the exchange rate in effect when the transaction is carried out. The Client authorizes Axis Strategic Group to debit from any of the accounts he has, the amount of money necessary to cover the outstanding balance he has with Axis Strategic Group or charges related to the services provided by Axis Strategic Group.
10. Deposit and Withdrawal of Funds The Client may, by giving written notice to Axis Strategic Group and with a notice period of at least 7 days, totally or partially withdraw funds from their accounts, including any increase from profits. Axis Strategic Group will retain authority over funds until withdrawal. The Client may at any time make further deposits for conducting transactions, subject to the conditions set by Axis Strategic Group. 11. Communications Communications may be made to the Client to any address, phone, fax or email to be notified to Axis Strategic Group for this purpose. Any communication by telephone, facsimile or electronic mail shall be deemed given on the date it was made or given, as applicable. Any communication by mail shall be valid after being sent by any reliable courier service. The Client shall ensure that Axis Strategic Group may contact him or his representative at all times, by phone, fax or email to the addresses provided. Axis Strategic Group will not accept liability arising from the retention of communications addressed to the Client or due to the mailings to the last known address of the Client. Communications to Axis Strategic Group should be made to the address; phone and e-mail addresses provided to The Client for this purpose and will only be considered valid when Axis Strategic Group has acknowledged receipt. 12. Internet and Electronic Negotiations Because Axis Strategic Group does not control the capacity and reliability of communication via Internet or any other means of electronic communication, or the configuration of the equipment used by the Client, Axis Strategic Group will not be responsible for any claims, losses, damages , costs and expenses, including legal fees, directly or indirectly caused by an interruption or failure of transmission, communication, computer systems or facilities, whether they belong to Axis Strategic Group, the Client, or any market, establishment, provider or system, when the Client makes online transactions through the Internet. The Client is obligated to keep passwords secret and ensure that third parties do not have access to the trading platforms or facilities. The Client shall be responsible to Axis Strategic Group for transactions made through the Client's password, even if they were used illegally.
13. Recording of conversations The Client acknowledges and agrees that Axis Strategic Group has the right, but not the obligation, to record all telephone conversations between the parties, with or without an automatic warning tone. Such recordings shall remain in the possession of Axis Strategic Group and the Client accepts the probative value thereof. The Client expressly authorizes Axis Strategic Group to provide copies or transcripts of the recordings to any court or authority, if Axis Strategic Group considers it necessary. Any recording or transcript made by Axis Strategic Group may be destroyed by Axis Strategic Group in accordance with normal practices. 14. Joint Accounts If two or more persons are joint account holders, all joint holders respond against Axis Strategic Group for the obligations derived from their account. The consent of any of the account holders will be sufficient to instruct Axis Strategic Group. If two or more joint account holders should give to Axis Strategic Group contradictory orders or instructions, Axis Strategic Group may refrain from attending such orders or instructions. The death of one holder will not affect the rights of other holders on all the funds in the account. The submission of information by Axis Strategic Group to any of the joint account holders will also become obligatory to the other holders and shall be deemed received by all account holders. 15. Indemnification and Limitation of Liability The Client releases from liability Axis Strategic Group for damages, losses or other consequences suffered by the Client as a result of disturbances, non-execution of instructions, delay, failure or inability in providing services due to laws, orders or other act of the British Virgin Island authorities or abroad or when Axis Strategic Group, because of war, riot, insurrection, civil commotion, fire, flood, strikes, labor difficulties, failure of telecommunications systems or any other natural cause, act of God or acts beyond its control has to discontinue or reduce their services fully or partially, by a certain time, in certain days. The Client bears all the damages that may be caused. The Client releases all liability and agree to indemnify Axis Strategic Group for all losses, damages, claims, losses and expenses (including legal fees and expenses) incurred by or suffer, directly or indirectly: - In connection with the execution, refusal or delay in the execution of the transactions of the Client, whether or not genuine or properly authorized;
- As a result of supplying Axis Strategic Group wrong or contradictory information or instruction, or information that may cause confusion, including error from the person giving the instruction; - For breach or termination of the Agreement by the Client. These indemnities shall outlast the termination this agreement. No failure or delay by Axis Strategic Group in the exercise of its rights under this Agreement shall operate as a waiver, damage or possible prevention of such rights or enforcement of such. 16. Provision of Information to Third Parties The Client authorizes, and releases all responsibility, to Axis Strategic Group to testify or provide any information concerning the Client, if necessary or appropriate to carry out the instructions, implicit or explicit wishes of the Client, or if required by competent judicial, administrative, police, education or any other kind of authority, under any law or rule applicable market, giving advance notice to the Client. The Client agrees irrevocably that Axis Strategic Group must meet the orders issued by the authorities of the British Virgin Islands or another country with regard to its operations with Axis Strategic Group. 17. Amendments to the Agreement Axis Strategic Group reserves the right to change, amend or add to this Agreement at its sole discretion, with notice to the Client via email or any other appropriate means. 18. Assignment The Client may not assign any of its rights and obligations under this Agreement or any other contract with Axis Strategic Group, without the written consent of Axis Strategic Group. 19. Relative Nullity If at any time any provision of this Agreement becomes illegal, invalid or unenforceable in any of its points by the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement under such jurisdiction as neither the legality, validity or enforceability of such provision under the law of any other jurisdiction will be affected. 20. Closing Foreign Exchange Contracts and Termination of Agreement Without warning or without receiving authorization from the Client, Axis Strategic Group will have the right to close all or part of any Client currency contract, and to perform other actions, during or after the occurrence of any of the following events:
- The death, judicial declaration of presumption of death, absence or interdiction of the Client, or if the Client has a loss of mental faculties; - If a bankruptcy or insolvency claim or proceedings is filed a with respect to the Client, or in the case of a corporation, with respect to one or more of its partners; - If Axis Strategic Group or the Client is required to terminate the contract or part of it by a judicial, administrative, police, instruction or authority of any other nature; - If Axis Strategic Group, acting reasonably, considers it necessary for its own protection. Axis Strategic Group may unilaterally terminate this Agreement by giving seven (7) days written notice if the Client has deposits below the required minimum for transactions for more than thirty (30) business days. Either party may terminate this Agreement by giving written notice at any time to the other party, specifying the date on which the termination is effective. If this date is not specified, the Agreement will be terminated with immediate effect. Until the termination of this Agreement, Axis Strategic Group shall have the right, but not the obligation, to close all or part of all open foreign exchange contracts in effect on the date of termination. The terms of this Agreement shall continue to be binding on both parties in relation to such contracts. 21. Applicable Law and Jurisdiction This Agreement is governed by the laws of the British Virgin Islands. For all disputes that may arise between Axis Strategic Group and the Client by reason of their business relationships, the Client renounces the jurisdiction of his domicile, states that he submits to the laws of the British Virgin Islands, and accepts the jurisdiction of the courts of the British Virgin Islands.
GENERAL RISK STATEMENT The risk of loss when you are investing in the currency spot market (spot) can be substantial. You should carefully consider which investments are appropriate in light of your circumstances and financial resources. You should be particularly aware of the following points: 1) A stop loss order is to limit losses. However, if the market moves adversely to your position, you could in a relatively short time, lose the total funds involved in the transaction. 2) Certain market conditions may make it difficult or impossible to execute orders at the stipulated price. 3) The high degree of leverage that is obtainable in the spot currency market (spot) due to the small initial margin requirement, could work against you as for you. The use of leverage can lead to large losses in the same way that it can lead to large benefits. 4) The intermediary through which Axis Strategic Group enters into transactions for the Client or for himself, may also be carrying out on its own in the same market as the Client, and may even have positions contrary to those of the latter. 5) It is warned that transactions carried out through Axis Strategic Group can be speculative in nature. This can result in substantial losses in a relatively short period of time, which cannot be predicted and which could result in a total loss of funds deposited with Axis Strategic Group These losses could be attributed to adverse market movements or the accumulation of commissions or transaction related positions. 6) Regardless of how convenient or efficient it may be to run online transactions (Online Trading), this does not necessarily reduce the risks associated with foreign exchange trading. 7) Any operation can be locked in any purchase or sale prices that are available at the time of execution. 8) This brief statement may not list all the risks of operating in the Spot Forex Market (Spot). You should carefully consider the investment before you allocate funds for trading in the Foreign Exchange Market. I have read and understood this Risk Disclosure.
____________________________ Client Name and Surname ____________________________