Ask AI: Example of FOREX account management terms and conditions

Creating terms and conditions for managing a FOREX account requires careful consideration of regulations, transparency, and the mutual understanding between the account manager and the client. Below is an example outline for such terms and conditions: --- **FOREX Account Management Terms and Conditions** **1. Introduction** 1.1 These Terms and Conditions govern the relationship between the Account Manager (hereinafter ‘Manager’) and the Client (hereinafter ‘Client’) concerning the management of the Client’s Foreign Exchange (FOREX) trading account. **2. Services Provided** 2.1 The Manager agrees to provide account management services, including executing trades on behalf of the Client, based on the Client’s investment goals and risk tolerance. 2.2 The Manager will use their discretion to manage the account unless otherwise specified by the Client in writing. **3. Account Setup and Documentation** 3.1 The Client must provide all necessary documentation to comply with legal and regulatory requirements. 3.2 The Client agrees to open an account with a broker recommended by the Manager, unless an alternate broker is agreed upon. **4. Fees and Compensation** 4.1 The Manager will be compensated through a performance fee and/or management fee as outlined in the fee schedule. 4.2 The performance fee will be [X]% of monthly/quarterly/yearly profits, calculated on a high-water mark basis. 4.3 The management fee will be [Y]% of the account's net asset value, billed monthly/quarterly. **5. Risk Disclosure** 5.1 The Client acknowledges that FOREX trading involves significant risk of loss and may not be suitable for all investors. 5.2 The Client should be aware that past performance is not indicative of future results. **6. Trading Authorization** 6.1 By agreeing to these terms, the Client grants the Manager limited power of attorney to trade on the Client’s behalf. 6.2 The Client has the right to revoke the Manager’s trading authorization at any time by providing written notice. **7. Reporting and Communication** 7.1 The Manager will provide regular reports detailing account performance, open positions, and transactions executed. 7.2 The Manager will maintain open communication channels and respond to Client inquiries in a timely manner. **8. Confidentiality** 8.1 Both parties agree to maintain the confidentiality of all information related to the account and trading strategies. 8.2 The Manager will not disclose any Client's information to third parties without the Client’s express consent, except as required by law. **9. Termination** 9.1 Either party may terminate this agreement by providing [30/60] days' written notice to the other party. 9.2 Upon termination, the Manager will cease trading activities and assist in transferring the account back to the Client. **10. Liability and Indemnification** 10.1 The Manager will act in good faith and with due diligence; however, the Manager will not be liable for losses incurred in the account as long as actions taken were within the agreed terms. 10.2 The Client agrees to indemnify and hold the Manager harmless from losses, damages, or liabilities arising from the Manager's actions under this agreement. **11. Governing Law and Dispute Resolution** 11.1 These terms and conditions shall be governed by and construed in accordance with the laws of [Jurisdiction]. 11.2 Any disputes arising from this agreement shall be resolved through [arbitration/mediation] in accordance with [Jurisdiction] rules. **12. Amendments** 12.1 The Manager reserves the right to amend these terms and conditions by providing the Client with [30/60] days' written notice. 12.2 Continued use of the Manager’s services after the notice period constitutes acceptance of the amended terms. **13. Acceptance** 13.1 By signing this agreement, the Client acknowledges that they have read, understood, and agreed to these Terms and Conditions. --- *Client Signature:* ___________________________ *Date:* ___________________________ *Manager Signature:* ___________________________ *Date:* ___________________________ --- **Note:** This is a sample document and should be tailored according to the specific needs, regulatory environment, and legal considerations pertinent to your situation. It is advisable to seek the guidance of a financial and legal professional when drafting your terms and conditions.