Forex Account Management Agreement
This Agreement is made and entered into on 18-03-2024, between SS7Trader and Shaemal Kumar.
1. Account Management
1.1 Scope: The Manager agrees to manage the Client's forex trading account with VT Markets broker, with an initial deposit of $1500 ($1000 from the Client and $500 contributed by the broker) and utilizing a leverage of 1:100.
1.2 Profit Share: Both parties agree to a profit-sharing arrangement, where profits generated from trading the account will be divided equally between the Manager and the Client (50/50 split).
1.3 Trading Frequency: Trading activities will occur based on market opportunities and in accordance with the Manager's trading setup conditions. There is no fixed trading schedule, and trades will be executed as deemed appropriate by the Manager.
2. Responsibilities
2.1 Manager's Responsibilities:
- Exercise professional judgment and diligence in trading activities.
- Provide regular updates and reports on account performance.
- Ensure compliance with risk management practices.
2.2 Client's Responsibilities:
- Provide accurate and timely information required for account management.
- Refrain from interfering with the Manager's trading decisions.
- Review and acknowledge weekly profit sharing and withdrawal requests.
3. Profit Sharing and Withdrawals
3.1 Profit Sharing: Profits generated from trading activities will be calculated on a weekly basis, and any profits will be shared equally between the Manager and the Client.
3.2 Withdrawals: Withdrawal requests will be processed weekly, and the shared profits will be withdrawn accordingly by both parties.
4. Term and Termination
4.1 Term: This Agreement shall commence on 18-03-2024 and remain in effect until terminated by either party with 7 days' written notice.
4.2 Termination: Either party may terminate this Agreement with 7 days' written notice to the other party. In the event of termination, the Manager shall close all open positions and return any remaining funds to the Client.
5. Miscellaneous
5.1 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of United Kingdom.
5.2 Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements and understandings, whether oral or written.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
SS7Trader
Signature: SS7TRADER
Shaemal Kumar