A. POWERS
In connection with the Centrio Global Account(s), the Attorney is authorised to trade or give instructions to trade in Contracts for Difference on Client’s account(s) for the following purposes:
1. To do business with Centrio Global LTD (“Centrio Global”) pursuant to the client agreement(s) with them and in accordance with the rules applicable thereto;
2. Authorise the Attorney as agent and attorney-in-fact to apply its algorithmic and or manual trading software to purchase and sell (including short sales) foreign currencies on margin for the undersigned’s account and risk.
3. Client hereby instructs Centrio Global to allocate the requested account value to the PAMM account on which Attorney algorithm and manual trading is applied, and Client shall receive a distribution of every trade (PnL) executed in said PAMM account. The client understands their percentage of ownership will change as new investors/traders join or revoke from the PAMM account. Since the percentage ownership of existing and future trades will change as other client funds are added into or removed from the PAMM, Centrio Global makes no representations or guarantees a specific level of ownership, trade sizing or exposure to the Client.
4. Centrio Global is authorized to follow the instructions of the Attorney in every respect concerning the Client’s trading account with Centrio Global, except that the Attorney is not authorised to withdraw or transfer any money, securities or other property either in the name of the Client or otherwise. Centrio Global does not endorse or vouch for the background or track record of the Attorney. The client understands that Centrio Global and its officers, employees and agents will not control the Attorney’s
actions, are in no way responsible for any loss to the client caused by the actions of the Attorney and that Centrio Global does not, by implication or otherwise, endorse the operating methods of the Attorney.
5. The client understands that the Attorney will charge the Client for trading on their account and that compensation will be in the form of a fee charged on a performance basis, as specified in the Remuneration section (Fee Acknowledgement/Debit Authorization) herein. Client will be notified of any changes to this Remuneration section.
6. The undersigned hereby ratifies and confirms all Margin FX and CFD transactions with Centrio Global heretofore and hereafter made by the Attorney on behalf of or for the Account of the undersigned. Even though the undersigned grants authority to the Attorney, the client should be diligent and closely scrutinize all account activity. Centrio Global provides online access to account activity, whereby the client may monitor unrealised and unrealised profits & losses and account balances and generate monthly account statements.
7. The client has read and understood the Legal Documents provided to the Client by Centrio Global, which is hereby incorporated by reference as if fully set forth herein and the client hereby affirms each statement made therein. This LPOA is in addition to and in no way restricts any and all rights Centrio Global may have under any other agreements and account terms with the client.
8. The client acknowledges that the Attorney perpetually maintains open positions and thus the withdrawal of funds by the client will usually require closing the client’s proportional share of all currently open positions thus realising any profits or losses on those open positions. Centrio Global may at its discretion prevent a client from closing open positions on their account if the closing of open positions will affect other clients.
11. The Client accepts full responsibility and liability for all such instructions (and for all Margin FX and CFD transactions that may be entered into as a result) and will indemnify Centrio Global, including its successors and assigns, and its staff and representatives and keep it indemnified against any loss, damage or expense incurred by it as a result of its acting on such instructions.
This indemnity shall be effective:
● Whatever the circumstances giving rise to such loss, damage, or expense; and
● Whatever the knowledge, acts or omissions of Centrio Global in relation to any other account held by any other person or body (including the Attorney named above) with Centrio Global.
12. The Client further agrees that this indemnity shall extend to loss, damage or expense incurred by Centrio Global in reversing incorrect or erroneous instructions submitted by the Attorney that result in a transaction that must, for the protection of Centrio Global or its other Clients or for reasons of market integrity, be reversed.
13. The Client acknowledges and accepts the inherent risk that online or electronic communications may not reach their intended destination or may do so much later than intended for reasons outside your control. The Client accepts that it bears the risk of the Attorney’s instructions being lost for any reason whatsoever (including, without limitation, malfunctions in any electronic or online trading system).
14. The Client acknowledges and accepts that, in providing an electronic or online trading system to the Attorney, Centrio Global has the right but not the obligation to set limits, controls, parameters and/or other controls on the Attorney’s ability to use such a system. The Client accepts that if Centrio Global chooses not to place any such limits or controls on the Attorney’s trading, or if such limits or controls fail for any reason, Centrio Global will not exercise oversight or control over such instructions given by the Attorney and the Client accepts full responsibility and liability for the Attorney’s actions in such circumstances.
B. REMUNERATION
Fee Acknowledgement/Debit Authorization
The client hereby ratifies and confirms that he/she has agreed to compensate the Attorney for his/her services and hereby authorizes Centrio Global to debit the client’s trading account and credit these fees directly to the Attorney, according to the listed fees via the PAMM registration schedule.
C. REVOCATION
This LPOA becomes effective when it has been fully completed and shall continue in full force and effect until such time as Centrio Global receives and confirms receipt of a written notice of revocation from the Client. Until such time, Centrio Global is authorised to rely upon this LPOA in connection with your Centrio Global account(s). The death, bankruptcy or mental incapacity of either the Client or the Attorney shall also revoke this LPOA. The effective date of revocation in such events shall be the date upon which Centrio Global receives and confirms receipt of documentary evidence of any such events. Revocation of the authority given to the Attorney shall not affect the validity, ratification and indemnity with respect to any Margin FX and CFD transactions occurred or instructions given by the Attorney prior to confirmation of receipt by Centrio Global of Client’s written notice of revocation.
D. GOVERNING LAW
This LPOA is governed by the laws of the St Vincent and the Grenadines, and you agree to irrevocably and unconditionally submit to the non-exclusive jurisdiction of the courts of the St Vincent and the Grenadines.
Executed as a deed.
