In consideration of SBG Club agreeing to enter into a trade/contract with the undersigned (hereinafter referred to as the “Customer”, customer acknowledges, understands and agrees that:
Foreign Exchange Trading and Spot Metal Trading is highly speculative and is suitable only for those Clients who:-understand and are willing to assume the economic, legal and other risks involved, and are financially able to assume losses significantly in excess of margin or deposits. Foreign Exchange and Spot Metal Trading may not be an appropriate investment for retirement funds. Client represents, warrants and agrees that Client understands these risks; that Client is willing and able, financially and otherwise, to assume the risks of Foreign Exchange Trading and Spot Metal Trading and that loss of Client's entire account balance will not change Client's life style.
The high leverage and low margin associated with Foreign Exchange Trading and Spot Metal Trading can result in significant losses due to price changes in Foreign Exchange contracts, cross currency contracts and metal contracts. Customers must maintain the minimum margin requirement on their open positions at all times. It is the customer's responsibility to monitor his/her account balance. SBG Club has the right to liquidate any or all open positions whenever the Minimum Margin requirement is not maintained. “Increasing leverage increases risk”.
SBG Club will provide prices to be used in trading, valuation of customer positions and determination of margin requirements. Although SBG Club expects that these prices will be reasonably related to prices available in the interbank market, prices reported by SBG Club may vary from prices available to banks and other participants in what is known as the interbank market. SBG Club will exercise considerable discretion in setting and collecting margin. SBG Club is authorized to convert funds in customer’s account for margin into and from such foreign currency and metal at a rate of exchange determined by SBG Club in its sole discretion on the basis of then- prevailing money market rates.
SBG Club's automated order entry system provides immediate transmission of customer’s order once customer enters the notional amount and clicks “Buy/Sell.” There is no “second look” before transmission, and market orders cannot be cancelled. This feature may be different from other trading systems. Although not required, we recommend a customer utilize the Demo Trading System to become familiar with the order entry process before trading online with SBG Club. Customer agrees that by using SBG Club's order-entry system, customer agrees to the one-click system and accepts the risk of this immediate transmission feature.
Market recommendations are informational, customer makes independent decisions, and SBG Club is not an adviser or a fiduciary to customer. The market recommendations provided by SBG Club do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any foreign exchange contracts, cross currency contracts or metal contracts. Each decision by customer to enter into a contract or other transaction with SBG Club and each decision whether a contract or other transaction is appropriate or proper for customer is an independent decision by customer. SBG Club is not acting as an advisor or serving as a fiduciary to customer. Customer agrees that SBG Club has no fiduciary duty to customer and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with customer following SBG Club's trading recommendations or taking or not taking any action based upon any recommendation or information provided by SBG Club.
The market recommendations of SBG Club are based solely on the judgment of SBG Club's personnel. These market recommendations may or may not be consistent with the market positions or intentions of SBG Club, its affiliates and employees. The market recommendations of SBG Club are based upon information believed to be reliable, but SBG Club cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will reduce or eliminate the risk inherent in Foreign Exchange and Spot Metal Trading.
There are no guarantees of profit or freedom from loss in Foreign Exchange Trading and Spot Metal Trading. Customer has received no such guarantees from SBG Club or from any of its representatives. Customer is aware of the risks inherent in Foreign Exchange Trading and Spot Metal Trading and is financially able to bear such risks and withstand any losses incurred. And the customer cannot claim back the losses for reason.
Due to market liquidity depth or other circumstances SBG Club may be unable to close out customer’s position at the level specified by customer, and customer agrees SBG Club will bear no liability for failure to do so.
SBG Club its personnel and affiliates and various other parties may execute orders at the same or better prices ahead of a customer order.
Since SBG Club does not control signal power, its reception or routing via Internet, configuration of customer's equipment or reliability of its connection, SBG Club shall not be liable for any claims, losses, damages, costs or expenses, including attorneys' fees, caused, directly or indirectly, by any breakdown or failure of any transmission or communication system or computer facility or trading software, whether belonging to SBG Club, customer, any market, or any settlement or clearing system when customer trades online (via Internet).
Should a quoting error occur due to a mistype of a quote by any electronic means (including responses to customer requests), SBG Club is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments on the account involved. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by SBG Club, in its sole discretion, of the relevant currency at the time such an error occurred. In cases where the prevailing market represents prices different from the prices SBG Club has posted on our screen, SBG Club will attempt, on a best efforts basis, to execute trades on or close to the prevailing market prices. These prevailing market prices will be the prices, which are ultimately reflected on the customer statements. This may or may not adversely affect customer realized and unrealized gains and losses.