Safety
We establish the highest standards of safety for our clients’ funds.
In order to ensure that our clients’ trades are executed at the best prices, we maintain a flexible margin trading approach that allows us to take advantage of the most attractive opportunities possible.
Terms and Conditions
This Customer Agreement (“Agreement”) is entered into by and between Ironclad Markets Ltd. (“Ironclad Markets”), a corporation organized under the laws of St Vincent and the Grenadines. , its successors and assigns, and the undersigned individual or individuals (as applicable, “Customer”) that wants to open a Customer Account (“Account”) with Ironclad Markets.
This Customer Agreement (“Agreement”) is entered into by and between Ironclad Markets Ltd. (“Ironclad Markets”), a corporation organized under the laws of St Vincent and the Grenadines. , its successors and assigns, and the undersigned individual or individuals (as applicable, “Customer”) that wants to open a Customer Account (“Account”) with Ironclad Markets.
1. TRADING
1.1 AUTHORIZATION TO TRADE.
Subject to the terms and conditions of this Agreement and acceptance of Customer’s application to open an Account with Ironclad Markets, Customer hereby authorizes Ironclad Markets to maintain one or more Accounts in Customer’s name and engage in transactions for Customer’s Account in accordance with oral, written or electronic instructions by Customer and its officers, partners, principals, employees or other agents (“Representatives”).
Customer will bear the risk of all unauthorized instructions by its Representatives and will indemnify and hold Ironclad Markets harmless from all claims, liabilities, losses, damages, fees, costs and expenses relating to or arising from Ironclad Markets reliance on such instructions, including any improper, unauthorized or fraudulent instructions by the Representatives, except in cases of gross negligence or willful misconduct by Ironclad Markets.
Unless expressly stated otherwise in writing, all transactions entered into between Ironclad Markets and Customer shall be governed by the terms of this Agreement, as amended from time to time (including, without limitation, Ironclad Markets Risk Disclosures and Trading Policies and Procedures).
2. ACCOUNTS
2.1 ACCOUNT APPROVALS AND MAINTENANCE
ronclad Markets may reject Customer’s application or close Customer’s Account for any reason, at Ironclad Markets sole and absolute discretion. Ironclad Markets may require Customer to provide Ironclad Markets with additional information or documentation in order for Ironclad Markets to continue carrying Customer’s Account.
Customer acknowledges that Ironclad Markets may, at any time in its sole and absolute discretion, restrict trading, disbursements or transfers. Ironclad Markets may amend, change, revise, add or modify the Agreement at any time. The most current Agreement will be posted to Ironclad Markets website. Customer understands that this Agreement cannot be modified by any verbal statements or written amendments that Customer seeks to make to the Agreement without written acceptance from the General Counsel of Ironclad Markets.
Restricted Territory: We restrict and reserve the right to restrict future access to all or some parts of the Website and/or Services in respect of certain jurisdictions. You fully understand and agree that we are not liable if the country of your location or residence becomes restricted or blocked. Restricted Territories include, but are not limited to, individuals residing in: Bahamas, Botswana, Burma(Myanmar), Cambodia, Democratic Republic of Congo, Cuba, Ethiopia, Ghana, Iran, Iraq, Japan, Lebanon, Libya, Malta, North Korea, Pakistan, Panama, Republic of the Congo, Somalia, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Vietnam, Yemen, Zimbabwe.
Customer acknowledges and agrees that Accounts are segregated in the Ironclad Markets books and records only, and Customer’s funds are not FDIC-insured and are deposited with a liquidity provider selected by Ironclad Markets in its sole discretion.
2.2 JOINT ACCOUNT OWNERS.
If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement.
If this Account is held in trust, joint ownership, or partnership, the undersigned hereby agrees to indemnify, defend and hold harmless Ironclad Markets for any losses resulting from a breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account.
Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of off-exchange products, to deposit with and withdraw from Ironclad Markets, currencies, securities, negotiable instruments, and other property, including withdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases with respect to any and all claims, demands, disputes, and controversies.
Upon death or legal incapacity of any of the undersigned, Ironclad Markets is authorized to take such action in regard to the Account, as Ironclad Markets may deem advisable to protect itself against any liability, penalty or loss.
Customer agrees to notify Ironclad Markets immediately upon the death or legal incapacity of any joint owner. Ironclad Markets may terminate this Agreement by written notice to any one of the joint owners.
2.3 MARGINS AND DEPOSIT REQUIREMENTS.
Customer shall provide and maintain margin in such amounts and in such forms as Ironclad Markets, in its sole discretion, may require.
Customer agrees to deposit by immediate wire transfer such additional margin when and as required by Ironclad Markets and will immediately meet all Margin Calls in such mode of transmission as Ironclad Markets shall, in its sole discretion, designate.
Ironclad Markets may change margin requirements at any time without prior notice. Ironclad Markets retains the right to limit the amount and/or the total number of open positions that Customer may acquire or maintain at Ironclad Markets. Ironclad Markets reserves the right to close any Customer positions at any time that it deems necessary. Ironclad Markets shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions including but not limited to loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of orders and/or information due to a breakdown in or failure of any transmission or communication facilities.
For example, in volatile market conditions, a margin call may be delayed resulting in the possibility of a negative usable margin; a margin call may occur even if positions are hedged, in the jurisdictions where hedging is permitted by law, due to rate volatility or daily interest charges or credits.
2.4 ROLLOVERS.
Ironclad Markets may, in its sole discretion and without notice to Customer, offset Customer’s open positions, roll over Customer’s open positions into the next settlement time period, or make or receive delivery on behalf of Customer upon any terms and by any methods deemed reasonable by Ironclad Markets, in its sole discretion.
Terms and/or methods for delivering, offsetting, or rolling over Customer’s open positions may differ on a customer-by-customer basis, at Ironclad Markets sole discretion.
Any positions held in Customer’s Account at 5 PM EST may be rolled over to the next settlement date and the Account may be debited or credited for the interest differential for the rollover period.
2.5 SETTLEMENT DATE OFFSET INSTRUCTIONS.
Offset instructions on positions open prior to settlement arriving at settlement date must be given to Ironclad Markets at least one to three business days prior to the settlement or value day. Alternatively, sufficient funds to take delivery or the necessary delivery documents must be in the possession of Ironclad Markets within the same period described above.
If neither instructions, funds nor documents are received, Ironclad Markets may without notice, either offset Customer’s position or roll Customer’s positions into the next settlement time period or make or receive delivery on behalf of Customer upon such terms and by such methods deemed reasonable by Ironclad Markets in its sole discretion.
2.6 LIQUIDATION OF ACCOUNTS.
In the event of:
- death or judicial declaration of incompetence of Customer or, in the case of a legal entity, its dissolution or liquidation;
- filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer;
- filing of an attachment against any of Customer’s Accounts carried by Ironclad Markets;
- insufficient margin, or Ironclad Markets determination that any collateral deposited to protect one or more Accounts of Customer is inadequate, regardless of current market quotations, to secure the Account;
- Customer’s failure to provide Ironclad Markets any information requested pursuant to this Agreement; or
- any other circumstances or developments that Ironclad Markets deems appropriate for its protection, and in Ironclad Markets sole discretion, it may take one or more, or any portion of, the following actions:
- sell any or purchase any or all contracts, securities or other property held or carried for Customer; and
- cancel any or all outstanding orders or contracts, or any other commitments made with Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal or appointed representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others.
2.7 LIQUIDATION OF ACCOUNTS.
With regard to managed Accounts, a money manager (“Money Manager”) is a person or entity authorized to make decisions with respect to an Account on behalf of the Account’s beneficial owners, including a trustee, custodian, conservator, guardian, executor, administrator, attorney in fact, or investment advisor or other person to whom Customer has granted trading authority over an Account.
Customer understands and agrees that Ironclad Markets may, but is not required to, review any action or inaction by a Money Manager with respect to an Account and is not responsible for determining whether a Money Manager’s action or inaction satisfies the standard of care applicable to such Money Manager’s handling of the Account.
Customer further understands and agrees that Ironclad Markets is not responsible for determining the validity of a person’s or entity’s status or capacity to serve as a Money Manager.
Customer agrees to hold Ironclad Markets and its officers, directors, employees, agents and affiliates harmless from any liability, claim, or expense, including attorneys’ fees and disbursements, as incurred, for the actions or non-actions of Customer’s Money Manager.
3. CUSTOMER REPRESENTATIONS
3.1 GENERAL REPRESENTATIONS AND WARRANTIES
Customer represents and warrants that:
Customer is of sound mind, legal age and legal competence;
Customer (if not a natural person) is duly organized and validly existing under the applicable laws of thejurisdiction of its organization;
Execution and delivery of this Agreement and all transactions contemplated hereunder have been duly authorized by Customer and will not violate any statute, rule, regulation, ordinance, charter, by-law or policy applicable to Customer;
Each person executing and delivering this Agreement has been duly authorized by Customer to do so;
No person other than the Customer has or will have an interest in Customer’s Account;
Regardless of any subsequent determination to the contrary, Customer is suitable to trade over-the-counter products;
Customer is not now an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange and/or firm registered on any exchange, or any bank, trust, or insurance company that trades the same instruments as those offered by Ironclad Markets, and in the event that Customer becomes so employed, Customer will promptly notify Ironclad Markets via email of such employment;
A customer has read and understands the Risk Disclosure Statement, Arbitration Agreement and Trading Policies contained in this Agreement;
The customer has conducted simulated trading using the demo trading platform for a period that has allowed the Customer to develop a full understanding of the trading platform;
All information provided by Customer to Ironclad Markets, including information regarding Customer’s trading experience and investment sophistication, is true, correct and complete, and Customer will notify Ironclad Markets promptly of any changes in such information.
Customer cannot engage in transactions for purposes of arbitrage or exploitation of temporary inaccuracies or technical discrepancies.
3.2 DISCLOSURE OF FINANCIAL INFORMATION.
Customer represents and warrants that the financial information disclosed to Ironclad Markets in the Application is an accurate representation of the Customer’s current financial condition.
Customer represents and warrants that in determining Customer’s Net Worth, Gross Income, Total Assets and Liabilities were carefully calculated.
Customer represents and warrants that in determining the value of Total Assets, the Customer included cash and/or cash equivalents, U.Government and Marketable securities, real estate owned (excluding primary residence), the cash value of life insurance and other valuable Assets.
Customer represents and warrants that in determining the value of Liabilities, Customer included notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages payable (excluding primary residence) and other debts.
Customer represents and warrants that Customer has very carefully considered the portion of Customer’sTotal Assets which Customer considers to be Risk Customer recognizes that Risk Capital is the amount of money Customer is willing to put at risk and if lost would not, in any way, change Customer’s lifestyle.
Customer agrees to immediately inform Ironclad Markets if the Customer’s financial condition changes in such a way as to reduce Customer’s Net Worth and/or Risk Capital.
3.3 CREDIT.
Customer authorizes Ironclad Markets or agents acting on behalf of Ironclad Markets to investigate Customer’s credit standing and in connection therewith to contact such banks, financial institutions and credit agencies as Ironclad Markets shall deem appropriate to verify information regarding Customer.
Customer further authorizes Ironclad Markets to investigate Customer’s current and past investment activity, and in connection therewith, to contact such futures commission merchants, exchanges, broker/dealers, banks, compliance data centres, and any other financial and investment institution as Ironclad Markets shall deem appropriate.
Upon reasonable request made in writing by Customer to Ironclad Markets, Customer shall be allowed to review any records maintained by Ironclad Markets relating to Customer’s credit standing.
Customer shall also be allowed, at Customer’s sole cost and expense, to copy such Customer acknowledges that Customer’s credit score may be impacted when Ironclad Markets accesses Customer’s credit file.
Customer also acknowledges that Ironclad Markets may provide information (e.g. negative Accountinformation of unsecured debts) regarding Customer’s performance under this Agreement to these agencies.
4. ORDER MANAGEMENT
4.1 CANCELLATION AND MODIFICATION REQUESTS.
Customer acknowledges that it may not be possible to cancel or modify an order.
Customer understands and agrees that, if an order cannot be cancelled or modified, Customer is bound by any execution of the original order.
Ironclad Markets is not liable to Customer if Ironclad Markets is unable to cancel or modify an order.
Customer further acknowledges that attempts to modify or cancel and replace an order can result in an over the execution of the order or the execution of duplicate orders, that Ironclad Markets systems do not prevent over the execution on duplicate orders from occurring, and that Customer shall be responsible for all such executions.
Customer agrees not to assume that any order has been executed or cancelled until Customer has received confirmation from Ironclad Markets with regard to order execution.
Customer is responsible for knowing the status of Customer‘s pending orders before entering additional orders.
Customer agrees to contact Ironclad Markets in the event Customer is unclear on the status of an order.
Customer agrees to regularly review Customer’s online Account Statement to confirm the status of Customer’s orders.
4.2 STATEMENTS AND CONFIRMATION
Reports of the confirmation of orders and statements of Accounts for Customer shall be deemed correct and shall be conclusive and binding upon Customer if not objected to immediately upon receipt and confirmed in writing within one (1) business day after the execution of the Customer’s order.
Ironclad Markets will provide Customer access to view Customer’s Account at any time with an online login via the Internet. Ironclad Markets will not provide trade confirmation via postal mail.
Written objections on Customer’s part shall be directed to Ironclad Markets at its address located at: Ironclad Markets, Suite 305, Griffith corporate centre, Beachmont, Kingstown, St. Vincent and the Grenadines and shall be deemed received only if actually sent via email or delivered or mailed by registered mail, return receipt requested.
Failure to object shall be deemed ratification of all actions taken by Ironclad Markets or its agents prior to Customer’s receipt of said reports.
Customer’s failure to receive a trade confirmation shall not relieve Customer of the obligation to object as set out herein.
4.3 CHARGES
Customer shall pay such charges (including, without limitation, mark-ups and markdowns, statement charges, idle Account charges, order cancellation charges, Account transfer charges, introducing broker and Money Manager fees, or other charges) arising out of Ironclad Markets providing services hereunder. Ironclad Markets may change its charges without notice.
All such charges shall be paid by Customer as they are incurred, or as Ironclad Markets in its sole and absolute discretion may determine, and Customer hereby authorizes Ironclad Markets to withdraw the amount of any such charges from Customer’s Account(s).
4.4 DEPOSITS AND WITHDRAWALS.
Ironclad Markets shall neither receive nor disburse Customer’s funds in cash currency or cash equivalents.
All transactions between Customer and Ironclad Markets shall be performed by wire, Automatic Clearing House (“ACH”) or other method in which the identities of both the sending and receiving parties can be verified by Ironclad Markets and which Ironclad Markets, in its sole discretion, shall deem appropriate.
Ironclad Markets shall perform deposit/withdrawal transactions only between Customer’s Ironclad Markets Account and another Account which is held in Customer’s name or of which Customer clearly demonstrates ownership to Ironclad Markets
To prevent money laundering, fraud, and other unauthorized activity, Ironclad Markets may limit Customer’s withdrawal options.
Ironclad Markets customers can withdraw their funds and benefits whenever they need to. To request a partial or complete withdrawal of funds from your account, click on “Withdrawal request” in your Ironclad Markets Portal.
lease consider that we take 2-5 business days to process your withdrawal request. Corresponding withdrawals will take up to 2-3 business days to reach your credit card or bank account.
Feel free to contact our Customer support specialist if you have any questions. According to generally acceptable AML rules and regulations, withdrawals must be performed only through the same bank account or credit/debit card that you used to deposit the funds.
Furthermore, when it comes to withdrawals, Client may be required to present additional information and documents.
4.5 DEPOSITS AND WITHDRAWALS.
Ironclad Markets will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or for any other cause beyond Ironclad Markets control or anticipation.
Ironclad Markets shall not be liable for losses arising from the default of any agent or any other party used by Ironclad Markets under this agreement.
4.6 CURRENCY FLUCTUATION RISK.
If Customer directs Ironclad Markets to enter into any transaction:
- any profit or loss arising as a result of a fluctuation in the rates affecting such a transactionwill be entirely for Customer’s Account and risk;
- all initial and subsequent deposits for margin purposes shall be made in USD, or another currency which Ironclad Markets may choose to accept, in such amounts as Ironclad Markets may in its sole discretion require, with subsequent deposits being in the same currency as the initial deposit; and Ironclad Markets is authorized to convert funds in Customer’s Account for margin into and from such foreign currency at a rate of exchange determined by Ironclad Markets in its sole discretion on the basis of then prevailing money market rates.
4.7 CROSS TRADE CONSENT.
Customer hereby acknowledges and agrees that Ironclad Markets may act as the counterparty to Customer for any trade entered for the undersigned’s Account.
The undersigned hereby consents to any such transaction, subject to the limitations and conditions,if any, contained in the Rules or Regulations of any bank, institution, exchange or board of trade upon which such buy or sell orders are executed, and subject to the limitations and conditions, if any, contained in any applicable regulations of any globally recognized regulatory agency.
5. COMMUNICATIONS
5.1 GENERAL COMMUNICATIONS.
Reports, statements, notices and any other communications shall be transmitted to Customer electronically by posting to Customer’s online Account or via email to the email address on Customer’s application, or to such other email address as Customer may from time to time designate to Ironclad Markets.
5.2 EMAIL AND ELECTRONIC COMMUNICATIONS
All emails sent to and from Ironclad Markets are subject to monitoring, review or disclosure to someone other than Customer or Customer’s intended recipient. Customer acknowledges that there may be delays in email being received by Customer’s intended recipient.
Customer agrees to hold Ironclad Markets harmless for any delay in email delivery regardless of whether the delay was caused by Ironclad Markets or a third party. Email sent to and from a Ironclad Markets address may be retained by Ironclad Markets corporate email system.
Customer agrees not to use email to transmit orders to purchase or sell over-the-counter products and further agrees that Ironclad Markets is not liable for any actions taken or any omissions to act as a result of any email message Customer sends to Ironclad Markets.
Electronic communications with Ironclad Markets via our Web site, wireless device or touchtone service are also subject to monitoring, review by or disclosure to someone other than the recipient and such communications may be retained by Ironclad Markets.
6. THIRD PARTIES
6.1 NO SEPARATE AGREEMENTS
Customer acknowledges that Customer has no separate agreement with Customer’s broker or any Ironclad Markets employee or agent regarding the trading in Customer’s Account, including any agreement to guarantee profits or limit losses in Customer’s Account.
Customer understands that Customer is under an obligation to notify Ironclad Markets Compliance Department immediately in writing as to any agreement of this type.
Further, Customer understands that any representations made by anyone concerning Customer’s Account that differ from any statements Customer receives from Ironclad Markets must be brought to the attention of Ironclad Markets Compliance Department immediately in writing.
Customer understands that Customer must authorize every transaction prior to its execution unless Customer has delegated discretion to another party by signing Ironclad Markets limited power of attorney (“LPOA”).
Any disputed transactions must be brought to the attention of Ironclad Markets Compliance Department pursuant to the notice requirements of this Agreement.
Customer agrees to indemnify and hold Ironclad Markets harmless from all damages or liability resulting from Customer’s failure to notify Ironclad Markets Compliance Department within one (1) business day of any of the occurrences referred to herein. All notices required under this section shall be sent to Ironclad Markets at its address.
6.2 NO SEPARATE AGREEMENTS
Customer acknowledges that Ironclad Markets may enter into revenue sharing arrangements with or retain the services any other third party vendors in connection with technology support, back office and operational support functions relating to Customer’s Accounts.
Ironclad Markets reserves the right to enter into such compensation or revenue sharing arrangements any other third party vendors based on volume traded, bid/offer pricing or other outside commission or revenue sharing models.
7. COMPLIANCE
7.1 ANTI-MONEY LAUNDERING PROCEDURES
Customer agrees to and acknowledges that Ironclad Markets may conduct the following procedures at the time of the opening and throughout the existence of the Account:
7.2 VERIFICATION PROCESSES:
In accordance with anti-money laundering and combating the funding of terrorism standards, Ironclad Markets may require to identify and verify the person who signs up. When a customer opens an account, Ironclad Markets is required to collect information such as – but not limited to – name and surname, date of birth and residential address. The customer agrees that Ironclad Markets reserves the right to close the account at its sole discretion if we come across any problem with the verification checks.
E-mail verification: After the person completed the sign-up form will be asked to verify his/her email address via an activation link. If this step is not completed, the access to the account will be denied.
2-factor authentication: After the customer completed the sign up form in order to access to the account they need to enable Two-factor authentication (2FA) on their account. It is an extra layer on your Ironclad Markets account to protect your account and data from unauthorized access attempts.
Identity verification checks: In order to complete the identity verification, Ironclad Markets may make use of third party providers to confirm any information that the person registers. Ironclad Markets may verify the customer’s information by requiring Customer to provide official identification documents and a proof of address or additional documents which you will be advised of at the time. Corporate clients will be required to submit additional documentation such as (not limited to) certificates of incorporation and articles of association. At any given time, whilst the customer has an account open with us we may decide to carry out further verification checks (which may include requests for additional documents or information) to satisfy routine security checks. If we are not able to verify the person’s registered details, if the customer is not able to or deny to provide the requested document/s and/or information, Ironclad Markets has the right to suspend the account, return any remaining balance up to the amount of the original deposits.
7.3 MONITORING:
Ironclad Markets may monitor the trading activity in Accounts to investigate or identify potential money laundering.
7.4 SECURITY AND CONFIDENTIALITY
Customer agrees and acknowledges that Customer is the exclusive owner and solely responsible, jointly and severally if applicable, for the confidentiality and protection of Customer’s Account number(s) and password(s) that allow Customer to place online orders and access Ironclad Markets electronic trading systems.
Customer further agrees that Customer will be fully responsible for all activities including brokerage transactions that arise from the use of Customer’s Account number(s) and password(s).
Customer agrees to indemnify and hold Ironclad Markets harmless from: if any other person utilizing Customer’s confidential information provides instructions to Ironclad Markets that may be contrary to Customer’s instructions.
Customer will immediately notify Ironclad Markets in writing or by email of any loss, theft or unauthorized use of Customer’s Account number and/or passwords.
7.5 INTELLECTUAL PROPERTY AND CONFIDENTIALITY
All copyright, trademark, trade secret and other intellectual property rights in the Ironclad Markets Trading Platform (“Trading Platform”) shall remain at all times the sole and exclusive property of Ironclad Markets and/or its 3rd party service providers and Customers shall have no right or interest in the Trading Platform except for the right to access and use the Trading Platform as specified herein.
Customer acknowledges that the Trading Platform is confidential and has been developed through the expenditure of substantial skill, time, effort and money.
Customer will protect the confidentiality of Ironclad Markets and/or its 3rd party service providers by allowing access to the Trading Platform only by its employees and agents on a need to access basis.
Customer will not publish, distribute, or otherwise make information available to third parties any information derived from or relating to the Trading Platform.
Customer will not copy, modify, decompile, reverse engineer, and make derivative works of the Trading Platform or in the manner in which it operates.
7.6 NO ADVICE AND NO RECOMMENDATIONS
Customer acknowledges that Ironclad Markets does not and will not give investment, legal or tax advice or make trading recommendations. Customer acknowledges that Ironclad Markets makes no representations concerning the tax implications or treatment of contracts.
Customer agrees that Customer is a self-directed investor and all orders entered are unsolicited and based on Customer’s own investment decision or the investment decision of Customer’s duly authorized representative.
Customer agrees that neither Ironclad Markets nor any of its employees may be Customer’s duly authorized representative and that Customer will neither solicit nor rely upon Ironclad Markets or any of its employees for any such advice.
Customer understands that Customer is solely responsible for all orders entered, including but not limited to trade qualifiers, the number of trades entered, the suitability of any trade(s), investment strategies and risks associated with each trade, and will not hold Ironclad Markets or any of its employees liable for those investment decisions.
Customer further understands that Ironclad Markets does not and will not review the appropriateness or suitability of any transactions implemented or investment strategies employed in Customer’s Account.
Customer hereby agrees to hold Ironclad Markets and its officers, directors, employees, agents and affiliates harmless from any liability, financial or otherwise, or expense (including attorneys’ fees and disbursements), as incurred, as a result of any losses or damages Customer may suffer with respect to any such decisions, instructions, transactions or strategies employed in Customer’s Account by Customer or Customer’s duly authorized representative, or as a result of any breach by Customer of any of the covenants, representations, acknowledgments or warranties herein.
7.7 TRADING RECOMMENDATIONS
Customer acknowledges that:
Any market recommendations and information communicated to Customer by Ironclad Markets or by any person within the company, does not constitute an offer to sell or the solicitation of an offer to buy any contract. Such recommendation and information, although based upon information obtained from sources believed by Ironclad Markets to be reliable, may be based solely on a broker’s opinion and that such information may be incomplete and may be unverified; and Ironclad Markets makes no representations, warranties or guarantees as to, and shall not be responsible for, the accuracy or completeness of any such information or trading recommendation furnished to Customer.
Customer acknowledges that Ironclad Markets and/or its officers, directors, affiliates, associates, stockholders or representatives may have a position in or may intend to buy or sell, which are the subject of market recommendations furnished to Customer, and that the market position of Ironclad Markets or any such officer, director, affiliate, associate, stockholder or representative may not be consistent with the recommendations furnished to Customer by Ironclad Markets.
7.8 RISK ACKNOWLEDGMENT.
Customer acknowledges that investments in leveraged transactions are speculative, involve a high degree of risk, and are appropriate only for persons who can assume risk of loss of their margin deposit.
Customer understands that because of the low margin normally required in trading over-the-counter contracts, price changes in contracts may result in the loss of Customer’s margin deposit.
Customer warrants that Customer is willing and able, financially, and otherwise, to assume the risk of trading, and in consideration of Ironclad Markets carrying his/her Account(s), Customer agrees not to hold Ironclad Markets responsible for losses incurred through following its trading recommendations or suggestions or those of its employees, agents or representatives.
Customer recognizes that guarantees of profit or freedom from loss are impossible in trading.
Customer acknowledges that Customer has received no such guarantees from Ironclad Markets or from any of its representatives or any introducing agent or other entity with whom Customer is conducting his/her Ironclad Markets Account and has not entered into this agreement in consideration of or in reliance upon any such guarantees or similar representations
7.9 RECORDINGS.
1. Customer agrees and acknowledges that all conversations regarding Customer’s Account(s) between Customer and Ironclad Markets personnel may be electronically recorded with or without the use of an automatic tone warning device.
2. Customer further agrees to the use of such recordings and transcripts thereof as evidence by either party in connection with any dispute or proceeding that may arise involving Customer or Ironclad Markets.
3. Customer understands that Ironclad Markets destroys such recordings at regular intervals in accordance with Ironclad Markets established business procedures and Customer hereby consents to such destruction.
7.10 SECURITY AGREEMENT.
All monies, securities, negotiable instruments, contracts and/or other property on deposit with Ironclad Markets or its affiliates, in Customer’s Account, for any purpose, including safekeeping, are hereby pledged with Ironclad Markets and shall be subject to a security interest in Ironclad Markets favor for the discharge of all Customer’s obligations to Ironclad Markets, irrespective of the number of Accounts Customer has with Ironclad Market
Customer also grants Ironclad Markets the right to use the above described properties and any Account credit to offset against any of Customer’s obligations to Ironclad Markets including, but not limited to, transfers for the purpose of margining, or for application to negative balance Accounts not promptly paid, as well as delivery costs and charges.
7.11 USE OF MONIES.
Customer hereby also grants to Ironclad Markets the right to pledge, repledge, hypothecate, invest or loan, either separately or with the property of other customers, to itself or to others, any funds, securities, currencies, and foreign currency or off-exchange transactions of Customer held by Ironclad Markets as margin or security. Ironclad Markets shall at no time be required to deliver to Customer the identical property delivered to or purchased by Ironclad Markets for any Account of Customer.
7.12 TECHNOLOGY AND COMMUNICATIONS ISSUES.
Ironclad Markets and/or its 3rd party service providers provide trading technology for Customer’s use in connection with transactions made by Customer with Ironclad Markets. Such trading technology includes, but is not limited to, the Trading Platform, web applications, application program interfaces, software, software code, programs, protocols and displays (collectively “Technology”) for trading, analysing trades and markets, and constructing automated trading systems.
Ironclad Markets provides the Technology “as is,” without any warranties of merchantability, fitness for a particular purpose, or other express or implied warranties.
Ironclad Markets will not be responsible for the operation or performance of any automated trading system developed with Technology or for any malfunctions of Technology or for any delays or interruptions in transmission of orders due to breakdown, excessive call volume or failure of transmission or communication equipment on the Internet or otherwise, including, but not limited to, communications problems, computer software or hardware breakdowns, malfunctioning errors, any and all problems or glitches associated with computer problems or any other technical cause or causes.
7.13 FOREIGN ACCOUNTS.
Customers not residing in the United States (”Foreign Accounts”) may be asked to comply with requests for special information by Ironclad Markets as required by any governmental unit or regulatory agency.
This includes, but is not limited to, special calls for information. In the event of a special call for information, Ironclad Markets or its agent shall be required to obtain the information set forth by any governmental unit or regulatory agency requesting information. In addition, failure to respond to a special call may cause transactions to be prohibited (other than offsetting trades) for Customer.
Foreign Accounts must copy and forward an official form of picture identification and must provide a bank reference before Customer is approved for trading.
8. MISCELLANEOUS
8.1 BINDING EFFECT
This Agreement shall be continuous and shall cover, individually and collectively, all Accounts of Customer at any time opened or reopened with Ironclad Markets irrespective of any change or changes at any time in the personnel of Ironclad Markets or its successors, assigns, or affiliates.
This Agreement including all authorizations shall inure to the benefit of Ironclad Markets and its successors and assigns, whether by merger, consolidation or otherwise, and shall be binding upon Customer and/or the estate, executor, trustees, administrators, legal representatives, successors and assigns of Customer.
Customer hereby ratifies all transactions with Ironclad Markets affected prior to the date of this Agreement and agrees that the rights and obligations of Customer in respect thereto shall be governed by the terms of this Agreement.
8.2 TERMINATION
This Agreement shall continue in effect until termination, and may be terminated by Customer at any time when Customer has no open position(s) and no liabilities held by or owed to Ironclad Markets upon the actual receipt by Ironclad Markets of written notice of termination via email, or at any time whatsoever by Ironclad Markets upon the transmittal of written notice of termination to Customer; provided, that such termination shall not relieve either party of any obligations set out in this Agreement nor shall it relieve Customer of any obligations arising out of prior transactions entered into in connection with this Agreement.
8.3 ACCEPTANCE.
This Agreement shall not be deemed to be accepted by Ironclad Markets nor become a binding contract between Customer and Ironclad Markets until Customer’s information is verified and approved by Ironclad Markets.
8.4 INDEMNIFICATION.
Customer agrees to indemnify and hold Ironclad Markets, its affiliates, employees, agents, successors and assigns harmless from and against any and all liabilities, losses, damages, costs and expenses, including attorney’s fees, incurred by Ironclad Markets arising out of Customer’s failure to fully and timely perform Customer’s responsibilities herein or should any of the representations and warranties fail to be true and correct.
The customer also agrees to pay promptly to Ironclad Markets all damages, costs and expenses, including attorney’s fees, incurred by Ironclad Markets in the enforcement of any of the provisions of this Agreement and any other agreements between Ironclad Markets and Customer.