These Trade Leader Investment Program Terms of Use (“Terms of Use”) set forth the terms pursuant to which the undersigned may use the Trade Leader Investment Program (“Program”) offered by Currensee LTD. (“IB”). You will be provided access to the Program only upon your acceptance of these Terms of Use and your consent to the “Trade Leader Investment Program Fee Payment Authorization and Direction.” These Terms of Use constitute a binding agreement between you and IB upon execution of the Agreement for Trade Leader Investment Program Initial Release.
1. Customer Agreement. The Program is available to you only if you are an introducing broker customer of IB. Your use of the Program is subject to the terms of the “Currensee LTD IB Customer Agreement” that you have entered into with IB (“Customer Agreement”), in addition to these Terms of Use, the terms of the Customer Agreement are incorporated by reference in, and made a part of, these Terms of Use. Capitalized terms used in these Terms of Use which are not defined in this Agreement have the meanings ascribed to them in the Customer Agreement. In the event of any inconsistency between these Terms of Use and the Customer Agreement, the Terms of Use will govern.
2. Customer Responsibility for Personal Program.
a. The Program is a Specialized Service offered by IB to its customers. The Program allows you to build a personalized automated trading program that will automatically generate Forex buy and sell orders that follow trade signals of one or more Forex traders offered through the Program (“Trade Leaders”), subject to the trading controls you decide to implement. You are solely responsible for designing your automated trading program (“Personal Program”), including the selection of one or more Trade Leaders through the Program whose trade signals you want to follow, and setting your trading controls for your Personal Program using the Program user features in accordance with the procedures described in the Program User Help as in effect from time to time. You will have the ability to revise the functionality of your Personal Program in accordance with the procedures described in the Program User Help, and are solely responsible for any such decisions and for making any such changes.
b. IB reserves the right to suspend or terminate a Trade Leader’s participation in the Program and there is no assurance the Trade Leader’s signals will continue to be available to any customer in the Program who has incorporated those signals into the customer’s personal program. A Trade Leader may also decide to terminate his participation in the Program. If as a result of such actions, signals followed in your Personal Program will no longer be available, IB will provide you with advance notice to the extent possible of the discontinuation of such signals including the effective date and time when the signals will be discontinued. You are responsible for deciding whether to make any changes to your Personal Program. Unless you take action to the contrary, you consent to removal of those signals from your Personal Program effective upon their discontinuation.
c. You agree and acknowledge that neither IB nor any Trader Leader will offer any advice to you on how to design your Personal Program, and that you are not relying on any such advice. You agree and acknowledge that neither IB nor any Trade Leader has any discretionary trading authority over your Account. No Trade Leader may make any representation or agreement on behalf o f or in the name of IB with out IB’s prior consent.
d. You agree that your are responsible for the trading performance of your Personal Program. You further agree that neither IB nor any Trade Leader shall be liable for any trading losses or other costs, expenses or losses you may incur as a result of trading pursuant to your Personal Program, whether or not due to the unavailability of you Personal Program or IB’s services.
3. Customer Account. You must designate a Forex trading account at a Forex Broker for which IB is your introducing broker as the account that you will trade using your Personal Program (“Account”). You are responsible for monitoring the statements and trade confirmations you receive from the Forex Broker for your Account on a timely basis to verify whether any trading errors have occurred.
4. Implementing Your Personal Program. You agree to follow the procedures in the Program User Help and to abide by IB’s Website Terms of Use in connection with your use of the Program to build, modify and run your Personal Program. You determine when to run your Personal Program and when to stop running the program and are responsible for activating and turning off the program in accordance with the Program User Help.
5. Order Transmittal. IB will, as a technology service, run your Personal Program in IB’s data center. Your Personal Program will automatically generate Forex orders for your Account, including calculation of order size based on the Account’s funding level, proportion of funds you have allocated by Trade Leader and the trading controls in your Personal Program. You hereby authorize and direct IB to electronically transmit each Forex order that your Personal Program automatically generates to the Forex Broker for execution in your Account and at your risk. You agree and acknowledge that each Forex order produced by your Personal Program is an order placed, and specifically authorized, by you. You agree and acknowledge that neither IB nor any Trade Leader exercises any trading discretion over your Account.
6. Performance Results. IB will monitor the trading performance results of your Personal Program in the Account on a real-time basis and will provide you with such results on a real-time or near-real time basis, along with analysis of the trading results and risks through a secure page on IB’s website.
7. Fees. You agree to pay IB the monthly program service fee and monthly success fee as set forth in the fee schedule attached to these Terms of Use as Schedule A. IB may revise Schedule A from time to time upon thirty (30) days advance written notice to you. You acknowledge that the foregoing fees are separate from the compensation that IB receives from the Forex Broker described in the Customer Agreement. You acknowledge that IB will compensate Trade Leaders out of the foregoing fees that it receives. IB will not pay any transaction based fees to any Trade Leaders, nor will a Trade Leader receive any compensation from any forex broker or other third party for offering his signals in the Program.
8. No Guarantee. You acknowledge that neither IB nor any Trade Leader makes or has made any guarantee that your Forex trading will be profitable or free from loss if you trade using your Personal Program or by following the signals of any particular Trade Leader or combination of Trade Leaders in your Personal Program. You understand that your trading results using your Personal Program will depend on many factors, such as account balance, the trading controls you have implemented, market behavior, and the spreads and fees of the Forex Broker for your Account. Thus, your trading performance results may differ materially from those presented on IB’s website for any Trade Leader whose signals you follow in your Personal Program.
9. Forex Trading Risk; Acknowledgements. You acknowledge that you understand the speculative nature of and high risks associated with Forex trading. You further acknowledge that you have read and understand the information regarding the risks of Forex trading set out in the Forex Risk Disclosure Statement attached to the Customer Agreement.
10. Disclaimer of Warranty; Limitation of Liability. The Program is provided “AS IS” and “AS AVAILABLE” and without any warranty of any kind. The entire risk arising out of the use or performance of the Program remains with Customer. In no event shall IB or its licensors be liable for any claim whatsoever arising out of the use of or inability to use the Program, even if IB has been advised of the possibility of such. The use of the Program or the use of any materials therefrom, is done at Customer’s own discretion and risk. Customer shall be solely responsible for any claim or other harm that may result from such use. Customer agrees to fully indemnify, defend and hold Currensee LTD and its affiliates and licensors harmless from any and all claims, damages, liabilities, losses, costs and expenses that may result from such activities.
11. Termination. These Terms of Use and the agreement they comprise will remain in effect until terminated. Either party may terminate these Terms of Use and the agreement they comprise for any reason by providing thirty (30) days prior written notice of termination to the other party. IB may terminate these Terms of Use and the agreement they comprise effective immediately upon written notice of termination to you in the event of any breach by you of these Terms of Use or the Customer Agreement or termination of the Customer Agreement for any reason.
12. Entire Agreement. These Terms of Use, together with the Customer Agreement and other documents referenced herein, contain the entire agreement between the parties, and supersede any prior agreement between the parties, with respect to the subject matter hereof.
13. Financial Resources. You agree that you have the financial resources to enter into the agreement represented by these Terms of Use and to trade your Account pursuant to your Personal Program.
Schedule A: Fees
As a participant in the Trade Leader Investment Program you agree to pay the following fees:
Service Fee: A 2% annualized service fee is charged monthly, based upon the average capital in your account. This fee lets us deliver the program to you and is charged at 0.167% monthly.
Success Fee: You pay a 20% success fee based on net profits generated by the trades of each Trade Leader in your account on a monthly basis.
Fees will be charged directly to your linked trading account in accordance with the Letter of Direction accepted by you when your account is linked and confirmed
