Number of years of investment or trading experience in the following:
List all diplomas/educational degrees that you received and
professional licenses that you hold:
If Partnership or Joint Account, please provide of all partners and individuals on a separate sheet of paper
Where would you like your statements sent?
I hereby represent and warrant that the foregoing information is true and correct. I hereby agree to notify the Next Generation Asset Management in writing, of
any changes to the foregoing information. Next Generation Marketing Enterprises Inc. reserves the right to verify the accuracy of the information provided herein but
has no duty to do so.
This agreement (“Agreement”) provides for the establishment of a customer trading account ("Customer Trading Account") with limited access to the electronic trading platform (“Platform”) of Catalyst Limited (“Catalyst”) for the purchase and/or sale of off-exchange (“OEX”), over-the-counter (“OTC”) (collectively “OTC/OEX”) spot instruments, forward contracts, contracts for difference (“CFD”), and related options, as well as other over-the-counter derivatives trading instruments and products. This Agreement shall govern all transactions and dealings between the Customer Trading Account and Catalyst.
All Forex, CFD or options (or any other derivative instrument or product) transactions executed through the Customer Trading Account shall be exclusively over-the-counter ("OTC"), off-exchange ("OEX") transactions. No exchange-traded derivative product or instrument shall be traded through the Customer Trading Account under this agreement. The word “currency” or “currencies,” where applicable herein, shall be referred to and construed to mean “Forex.” Various other trading products, including but not limited to, energies, metals, other commodities irrespective of whether they are spot, forward or options instruments, shall be construed to mean indices and shall be referred to as “CFDs.” Some transactions in OTC/OEX Forex or CFDs may not anticipate the making or taking delivery of the underlying Forex or CFD product purchased or sold. Customer Trading Account transactions may be made by international market-makers and liquidity providers, outside the jurisdiction of Customer’s country and may not be subject to government regulation. Foreign marketplaces may have regulations that differ from those of Customer’s country, and may provide substantially less customer protection.
The Customer shall transfer to Catalyst the funds necessary for pay for or margin the trade orders entered for its Trading Account on the Platform. All funds transferred to Catalyst on behalf of the Customer shall be received or immediately placed, and thereafter maintained, in an omnibus segregated account for the benefit of all similarly situated accountholders on Catalyst’s Platform. Customer acknowledges that Catalyst is not liable for funds subsequently transferred pursuant to the Agreement and in the ordinary course of its business to any clearing firm, market-maker, liquidity provider or counterparty for the sole purpose of facilitating Customer’s order instructions. Customer hereby authorizes Catalyst to deduct funds from the Customer Trading Account to pay the full cost or margin of any transaction initiated in the Customer Trading Account. As an omnibus account, Customer acknowledges that Catalyst may and frequently will deposit Customer funds together with funds from other customers, in banks or other financial institutions under a Catalyst omnibus account. Catalyst will be the accountholder of such deposits, and Customer will be one of the beneficial owners. However, this Agreement strictly prohibits the pooling of customer funds for the purpose of any common interest purchase or sale of any Forex or CFD product on the behalf of,
Page 7 of 20 and credit against any other of Customer's obligation to Catalyst not promptly paid, except where prohibited by law.
All purchases and sales of Forex, CFDs and/or options under this Agreement will relate to such specific forms, types, and quantities (which can be found on the “Contract Specifications” on Catalyst’s Platform), are construed to be accepted by Customer at the time Customer enters an order for the Forex, CFD or options product in the Customer Trading Account. Catalyst's sole warranty is that any Forex, CFD or option product will conform to the description in the Contract Specifications issued by Catalyst and displayed on its Platform. Catalyst expressly disclaims all other warranties, expressed or implied, including any warranty of merchantability or fitness for a particular purpose. Contracts for Difference do not permit the physical delivery of the underlying product.
Customer agrees that at all times relevant to this Agreement, Customer will maintain such margin in its Customer Trading Account as Catalyst may require. Catalyst requires that Customer Trading Accounts will meet all margin calls within twenty-four (48) hours unless the period is extended in writing by Catalyst in its sole discretion. Margin requirements may be changed (increased or decreased) at Catalyst's discretion and without prior notice to Customer. Customer acknowledges Catalyst's right, at its sole discretion, to limit the number of open positions that Customer may hold or acquire. Customer agrees that when requested, whether by telephone, email or other communication, to send via bank wire any monies due Catalyst or face the forced liquidation of open positions in Customer Trading Account without Customer's consent or knowledge. No margin deposit is required to purchase call and put options.
Customer acknowledges and agrees that, notwithstanding anything in this Agreement to the contrary, in the event that Customer Trading Account: (i) is in margin call, (ii) has a zero or deficit balance, or (iii) in the event Catalyst is unable to contact Customer due to Customer's unavailability or due to unforeseeable breakdown in electronic communications, Catalyst shall at all times have the right, but not the obligation, to liquidate all or any part of Customer's open positions at the market price then available, without prior notice to Customer. At no time will the Customer Trading Account be permitted to have a negative net liquidation value without; however, at its sole discretion, Catalyst may allow the delayed settlement of trades or permit T+5 in the Customer Trading Account (this is usually permitted in conjunction with a guarantee provided by the Independent Introducing Broker). If at any time account balance nears a negative net liquidation value, or if market conditions create a reasonable likelihood that such may occur, Catalyst in its sole discretion shall have the right to liquidate any or all open market positions as it deems appropriate.
Catalyst shall provide Customer with written confirmation on the same day for all transaction events that occur in the Customer Trading Account, including but not limited to executed buy or sell orders; cash deposits or withdrawals; commission or fee charges, and various administrative debit or credits. Catalyst shall also provide other periodic financial statements and customary notices relating to the Customer Trading Account. Customer has an affirmative responsibility and agrees to review and inspect all such notices and documents issued by Catalyst in a timely manner as defined herein. Reports of the execution of orders, financial statements, margin notices, and any other notices, statements or reports to Customer issued by Catalyst shall be deemed correct, accepted and ratified, and shall be conclusive and binding on Customer, unless Customer notifies Catalyst of a discrepancy, error or objection not more than 24 hours after issuance of such notice, statement, or report. Customer agrees that in the event of any such discrepancy, Page 8 of 20 including, but not limited to, the failure to execute order instructions within a reasonable time, Catalyst shall not be responsible for any unrealized profit or losses due to Customer's failure to take reasonable measures to correct an account discrepancy. Since all transactions are executed at the respective bid or ask price, not the last reported price, transaction values may differ from the values shown on account statements.
Customer understands and acknowledges that Catalyst is not Customer’s broker; and Catalyst is not Customer’s fiduciary and has no duty to act in Customer’s best interest. Catalyst will provide no trade recommendations or market advice to Customer under any circumstances; and Catalyst will not place trade orders for Customer (except for forced liquidation). Customer is prohibited under this agreement from delegating trading authority of any kind to Catalyst or any of its employee or agents. Customer shall have full and complete control over the Customer Trading Account at all times. Customer expressly agrees as a condition of obtaining and maintaining the Customer Trading Account not to relinquish control, or allow de facto control, of trading in the Customer Trading Account to Catalyst or its employees or agents, or to any other third party without the written consent of Catalyst. Customer shall have sole responsibility for monitoring all open market positions, margin requirements, and all pending stop and limit orders. Catalyst shall have no responsibility to monitor any of Customer's open market positions. Catalyst will, if available, publish real-time executable bid and ask price quotes for various trading products on business days during Catalyst's normal office hours. Catalyst is not responsible for any communications with Customer other than the provision of written trade confirmations and periodic account statements. Customer acknowledges that it will rely solely on its own judgment in entering into any transaction on the Platform.
If Customer is introduced to Catalyst by an Independent Introducing Broker, Customer shall reach an agreement as to commission charges with said Independent Introducing Broker. Such an agreement shall be between Customer and the Independent Introducing Broker, and shall be independent of and in no way relate to Catalyst. In such cases, Customer authorizes Catalyst to deduct from the Customer Trading Account commissions charged by the introducing broker and Customer further instructs Catalyst to pay said commissions to the Independent Introducing Broker. In addition and in any case, Customer agrees to pay all customary and reasonable fees which Catalyst may charge for special services it renders, including but not limited to, transfers, odd lots, settlement failures, bank wires, and returned checks. Catalyst may, but is not obligated to, charge an trading access fee of up to €100 and/or an annual access maintenance fee of up to $100, which will be charged in advance. Catalyst may also charge an execution fee of up to $7.50 on all open and closing transactions. Customer agrees to pay all debit balances immediately. Interest charged upon delinquent deficits is set at two percent (2%) over the LIBOR rate per annum calculated for the period that such debit balance shall exist. A monthly dormant account fee of up to $35 may be assessed against Customer Trading Account where no open positions are carried and transactions have been executed for thirty (30) days. Customer acknowledges that the trading Forex, CFDs and options may involve frequent purchases and sales, resulting in significant fees and/or commissions. In order for Customer to achieve a net profit on any transaction, the price received by the Customer upon the sale of the open position must exceed the purchase price paid by at least the amount of any commissions and any other fees paid. Customer may incur a loss of all or part of its funds where commissions and fees ultimately account for the entire loss.
makers generally quote a selling price (ask price to Customer) and a buying price (bid price to the Customer). These prices are established Page 9 of 20 by market participants upon their analyses of each currency or CFD product and may change many times during the course of a business day. Market-makers’ bid and ask prices, and the spread between the bid and ask prices, reflect the volatility and liquidity of the market and are not necessarily tied to prices quoted by any other institution, organization or market-maker. Such spreads must be viewed by Customer as an additional cost of trading, much like trading commissions or fees. Catalyst reserves the right to, and necessarily will, set its bid and ask prices and change such prices and the spread between bid and ask prices prospectively at any time without notice. Catalyst acts as counterparty in Customer transactions, Catalyst does not guarantee that its prices are the best available prices. Prices quoted by any given market-maker for Forex or CFDs may, and frequently will, differ from those quoted by other market-makers, liquidity providers or price quote publishers at any given time.
Customer acknowledges that as a market participant, Catalyst acts in various capacities in the Forex, CFD and options markets in the course of its business. Catalyst's various commercial capacities include, but are not limited to, acting as a liquidity provider, clearing entity, marketmaker, dealer, and proprietary trader. Where Catalyst acts in the capacity of a liquidity provider and clearing entity relative to the Customer Trading Account, its responsibility is limited to the execution of Customer orders third parties. Catalyst will execute such transactions on an arm's length basis with third parties that it deems appropriate; however, Catalyst does not guarantee or warrant the credit worthiness or performance of any third party in any transaction. Customer acknowledges that Catalyst, or its partners or affiliates, may and frequently will place speculative derivatives trades for its own proprietary account and risk, and such transactions may be contrary to open market positions held by Customer. Catalyst may engage at its sole discretion in any transaction, market, capacity or activity, whether or not referred to herein, without notice or disclosure to Customer. Nothing herein shall preclude Catalyst from engaging in any Forex, CFD or options transaction, market, capacity or activity that it deems appropriate.
Under certain circumstances, in the ordinary course of Catalyst’s business a potential, apparent or actual conflict of interest may arise between the Customer and Catalyst. Catalyst’s fee and charges pose an inescapable actual conflict with Customer. As the operator of an electronic trading platform, Catalyst will charge fees to earn sufficient revenue to pay its expenses and make a profit. Catalyst can, and typically will, mark up the spread between the bid and offer prices of a Forex, CFD and/or options product. When Catalyst acts as a dealing principle or market-maker, it may be the counterparty to transactions placed by Customer. As a counterparty, a conflict arises in that Catalyst stands to gain from a less favourable execution price for the Customer and may stand to gain from Customer’s market losses. A conflict may arises where Catalyst has a financial interest in, or a less than arms-length relationship with, certain liquidity providers, market-makers or proprietary traders. A conflict may arise when Catalyst, or its agents, partners, and affiliates engage in speculative Forex, CFD or option trades for its own proprietary account and risk, and such transactions are contrary to open market positions held by Customer. Nothing in this Agreement precludes Catalyst from engaging in any Forex, CFD, option or any other derivative transaction, market, capacity or activity it deems appropriate due to an apparent, potential, or actual conflict of interest with Customer. Catalyst is not the fiduciary of Customer, and has no responsibility to act in Customer's best interest. Catalyst's only obligation to Customer is to carry out its obligations to operate an electronic trading platform, provision liquidity, clear and report on trades in the Customer Trading Account in the limited and narrow context set forth in this Agreement.
Customer acknowledges that the relationship created under this agreement is exclusively with Catalyst, and that Page 10 of 20 Customer has no commercial relationship arising from this agreement with any third party with which Catalyst has a commercial relationship. Customer expressly and specifically waives any claim against any executing broker, market-maker, dealer, liquidity provider, clearing firm or counterparty with which Catalyst has a commercial relationship. Where Catalyst acts as an intermediary between Customer and an executing broker, market-maker, dealer, liquidity provider, or counterparty, no such firm has responsibility to act as a fiduciary to Customer. Customer agrees to waive any claims against, and to indemnify, defend, and hold harmless, Catalyst's executing brokers, market-makers, dealers, liquidity providers, and counterparties for the activities of Catalyst or its employees. Customer acknowledges that any executing broker, market-maker, dealer, liquidity provider, or counterparty of Catalyst shall only be liable for its own gross negligence or wilful misconduct in connection with Customer Trading Account, and said firm will not be liable to Customer for any loss or damage where such loss or damage is due to causes beyond its reasonable control, including but not limited to, the failure or default of Catalyst.
Customer acknowledges that Customer will be trading in off-exchange (OEX) or over-the-counter (OTC) Forex, CFDs and options products only, and that Customer will not trade, nor have availability to trade, through its Customer Trading Account in securities or futures contracts and/or options on securities or futures contracts, which are traded on any regulated exchange, board of trade, or contract market. Customer acknowledges that through Customer Trading Account transactions may be done outside the jurisdiction of Customer’s country and are not subject to government regulation. Foreign marketplaces may have regulations that differ from those of the country of Customer and may afford substantially less customer protection.
Customer acknowledges that any charts, statistics, news, publications, or other information of or pertaining to market conditions is understood to have been obtained from sources believed to be reliable. Customer acknowledges that such information may be incorrect or incomplete, and Customer agrees to indemnify and hold harmless Catalyst should Customer rely on such information in making any decision. Catalyst makes no guarantee whatsoever that such information is accurate or complete. No claim is made that any information provided by Catalyst will be profitable or that utilizing such information will not result in a loss. Customer further acknowledges that all reports of execution, price quotations, and other market information are subject to change and errors or delays in reporting. Customer agrees that reliance upon such information is at Customer's own risk.
Gibraltar law shall govern all relationships between the client and the parties agree to submit to the jurisdiction of the courts of Gibraltar in respect of any disputes arising irrespective of the place or their domicile. Catalyst, however, reserves the right to take legal proceedings at the client’s or its agent’s place of domicile.
Customer agrees to indemnify Catalyst and hold Catalyst harmless against any and all liabilities, losses, damages, costs, and expenses incurred by Catalyst because any Customer representation and/or warranty proves to be untrue and incorrect, or because the agreements made by Customer are not fully and timely performed. Customer also agrees to indemnify Catalyst and hold Catalyst harmless from and against any and all damages, costs, and expenses incurred by Catalyst in the enforcing of any of the provisions of this Agreement or any related agreement against any third party. Customer agrees to indemnify Catalyst and hold Catalyst harmless from any and all liabilities, losses, damages, costs, and expenses due to the acts and/or omissions of Customer’s Independent Introducing Broker that cause Customer losses and/or lost gains. Page 11 of 20
In the event of adverse conditions in the marketplace or other factors beyond the control of Catalyst, including, but not limited to, acts of God, acts of war, natural disasters, national emergencies, adverse government actions, suspension of trading by currencies or currency derivative markets, or the failure or delay of counter parties, the execution of market orders or the maximum time for delivery of currency and/or currency derivatives or payment by Catalyst may be extended during the period of such adverse circumstances. Catalyst will not be responsible for delays or failures in the transmission, receipt or execution of orders, payments, deliveries or information due to the incapacity or failure of computer, transmission or communication facilities which are beyond the control of Catalyst; nor will it be responsible or liable for adverse government or regulatory action taken against itself or against Customer, which prevents or inhibits Catalyst from performance under this Agreement.
Customer authorizes Catalyst, to record any or all electronic communications with Customer, but does not require it to do so. Customer agrees to the use of recordings as evidence in any proceeding involving Catalyst.
Any rights or interests that Customer may have pursuant to this Agreement shall not be assigned, transferred, sold or otherwise conveyed without the express written consent of Catalyst. Catalyst may, however, subject to the applicable law, assign this Agreement at its own discretion without notice. If any provision of this Agreement shall be prohibited by or is invalid under applicable law, such provisions shall be struck from the Agreement, and the remaining part of the Agreement shall survive in full force. This Agreement becomes effective only upon the approval and acceptance of Catalyst by an authorized employee at Catalyst's principal place of business. Acceptance by Catalyst under this Agreement must be preceded by Catalyst's approval of Customer and receipt of good funds. Catalyst reserves the right to decline any Customer at its discretion.
This Agreement shall be binding upon Customer's heirs, executors, administrators, and conservators and shall inure to the benefit of Catalyst and its successors or assigns. In the event of Customer's death, incompetence, or petition in bankruptcy, Catalyst is hereby authorized to close Customer's relationship and proceed pursuant to paragraphs herein without prior notice to Customer's heirs, executors or administrators. This contract is the entire agreement between Catalyst and Customer, and no provision hereof shall in any respect be waived or modified unless in writing and signed by Catalyst. The paragraph headings in this Agreement are inserted for convenience of reference only and are not intended to limit or affect the meaning of any provision therein.
Customer represents and warrants to Catalyst that Customer is of legal age and under no legal incapacity. The Customer is not now, and shall advise Catalyst promptly if Customer becomes, an employee or agent of any competing firm or any banking institution. Customer represents that Customer is not restricted from trading in any relevant market by virtue of employment, government decree or otherwise. Customer further represents and warrants that all information supplied to Catalyst in this or any related document is true and accurate, and that Customer shall inform Catalyst in writing of any material changes to such information when such changes occur. Customer warrants that Catalyst may faithfully rely on information supplied by Customer under this Agreement, and Customer agrees to indemnify Catalyst for any loss resulting from its reliance thereupon. Page 12 of 20
Information, price quotations, statements, reports, notices, and financial statement may be provided to the Customer by Catalyst over the Internet, particularly via Catalyst's trading platform or website. Customer acknowledges that the Internet is not a secure medium for communication of sensitive information and that it may be subject to interference by third parties. Customer when accessing Catalyst's trading platform or website will comply with any instructions or directions given by Catalyst for use or maintenance of the trading platform or website and the client agrees to hold Catalyst harmless from any claims, liabilities or losses which may result from failure by Customer to follow such instructions or directions. Any prices, terms, valuations or other information displayed via Catalyst's trading platform or website are indicative only and do not constitute a firm quotation or hard information unless specifically stated in writing. Catalyst does not accept responsibility for any errors, delays, omissions in such information and any use by Customer of Catalyst's Internet services shall be at Customer’s sole risk.
This Agreement does not constitute an offer to sell, nor a solicitation to buy, in any jurisdiction in which such an offer or solicitation may not lawfully be made. No person is authorized to give any information about this agreement or to make any representation that is contrary to the statements contained herein or in other official literature of Catalyst, and if such information or representations are made, they must not be relied upon as having been authorized by Catalyst. Catalyst is an Internet-based service provider and any transaction made under this agreement is done solely within the jurisdiction of Gibraltar, irrespective of where support, communications, technology, administration centers are located or domiciled.
Any taxes imposed upon transactions executed under this agreement with Catalyst by any government shall be the sole responsibility of Customer. Customer certifies that any taxpayer identification number relating to any governmental jurisdiction provided by Customer is correct, and Customer is not subject to any tax withholding by Catalyst. Customer hereby releases Catalyst from any liability for breach of privacy, confidentiality or non-disclosure where a governmental agency or court of competent jurisdiction orders disclosure of Customer information or disbursement of funds from Customer Deposit.
Agreement is accompanied by a separate Risk Disclosure Statement, which describes some of the risks associated with trading in over-the-counter or offexchange currencies and/or currency derivatives like options and CFDs. The Risk Disclosure Statement is furnished to Customer to ensure that Customer is apprised of some of the risks associated with currencies and currency derivatives, which Customer may be contemplating. Customer acknowledges that: (i) Customer is aware that the purchase and/or sale of currencies or derivatives thereof, like currency options, involves an extremely high degree of risk of loss and is not suitable for many people, (ii) that Customer has carefully read and understands this entire Agreement and the Risk Disclosure Statement, and, if applicable, the Additional Risk Disclosure Statement, (iii) that Customer has sufficient knowledge and experience in financial and investment matters as to be capable of understanding and evaluating the risks and merits of trading in currencies or currency derivatives like currency options, and (iv) that Customer's current financial condition and financial liquidity are suitable to sustain losses in an amount up to the full value of any and all transactions initiated with Catalyst.