A. POWERS
In connection with the Algo Capitals Account(s), the Attorney is authorised to trade or give instructions to trade in
Contracts for Difference on Client’s account(s) for the following purposes:
1. To do business with Algo Capitals LLC (“Algo Capitals”) pursuant to the client agreement(s) with
them and in accordance with the rules applicable thereto; and
2. Authorise the Attorney as agent and attorney-in-fact to apply its algorithmic and or manual trading
software to purchase and sell (including short sales) foreign currencies on margin for the
undersigned’s account and risk.
3. Client hereby instructs Algo Capitals to allocate the requested account value to the PAMM account
on which Attorney algorithm and manual trading is applied, and Client shall receive a distribution
of every trade (PnL) executed in said PAMM account. The client understands their percentage of
ownership will change as new investors/traders join or revoke from the PAMM account. Since the
percentage ownership of existing and future trades will change as other client funds are added
into or removed from the PAMM, Algo Capitals makes no representations or guarantees a specific
level of ownership, trade sizing or exposure to the Client.
4. Algo Capitals is authorized to follow the instructions of the Attorney in every respect concerning the
Client’s trading account with Algo Capitals, except that the Attorney is not authorised to withdraw or
transfer any money, securities or other property either in the name of the Client or otherwise. Algo Capitals does not endorse or vouch for the background or track record of the Attorney. The client
understands that Algo Capitals and its officers, employees and agents will not control the Attorney’s
actions, are in no way responsible for any loss to the client caused by the actions of the Attorney
and that Algo Capitals does not, by implication or otherwise, endorse the operating methods of the
Attorney.
5. The client understands that the Attorney will charge the Client for trading on their account and
that compensation will be in the form of a fee charged on a performance basis, as specified in the
Remuneration section (Fee Acknowledgement/Debit Authorization) herein. Client will be notified
of any changes to this Remuneration section.
6. The undersigned hereby ratifies and confirms all Margin FX and CFD transactions with Algo Capitals heretofore and hereafter made by the Attorney on behalf of or for the Account of the
undersigned. Even though the undersigned grants authority to the Attorney, the client should be
diligent and closely scrutinize all account activity. Algo Capitals provides online access to account
activity, whereby the client may monitor unrealised and unrealised profits & losses and account
balances and generate monthly account statements.
7. The client has read and understood the Legal Documents provided to the Client by Algo Capitals,
which is hereby incorporated by reference as if fully set forth herein and the client hereby affirms
each statement made therein. This LPOA is in
addition to and in no way restricts any and all rights Algo Capitals may have under any other
agreements and account terms with the client.
8. The client acknowledges that the Attorney perpetually maintains open positions and thus the
withdrawal of funds by the client will usually require closing the client’s proportional share of all
currently open positions thus realising any profits or losses on those open positions. Algo Capitals
may at its discretion prevent a client from closing open positions on their account if the closing of
open positions will affect other clients.
11. The Client accepts full responsibility and liability for all such instructions (and for all Margin FX
and CFD transactions that may be entered into as a result) and will indemnify Algo Capitals,
including its successors and assigns, and its staff and representatives and keep it indemnified
against any loss, damage or expense incurred by it as a result of its acting on such instructions.
This indemnity shall be effective:
● Whatever the circumstances giving rise to such loss, damage, or expense; and
● Whatever the knowledge, acts or omissions of Algo Capitals in relation to any other account
held by any other person or body (including the Attorney named above) with Algo Capitals.
12. The Client further agrees that this indemnity shall extend to loss, damage or expense incurred by
Algo Capitals in reversing incorrect or erroneous instructions submitted by the Attorney that result
in a transaction that must, for the protection of Algo Capitals or its other Clients or for reasons of
market integrity, be reversed.
13. The Client acknowledges and accepts the inherent risk that online or electronic communications
may not reach their intended destination or may do so much later than intended for reasons
outside your control. The Client accepts that it bears the risk of the Attorney’s instructions being
lost for any reason whatsoever (including, without limitation, malfunctions in any electronic or
online trading system).
14. The Client acknowledges and accepts that, in providing an electronic or online trading system to
the Attorney, Algo Capitals has the right but not the obligation to set limits, controls, parameters
and/or other controls on the Attorney’s ability to use such a system. The Client accepts that if Algo Capitals chooses not to place any such limits or controls on the Attorney’s trading, or if such limits
or controls fail for any reason, Algo Capitals will not exercise oversight or control over such
instructions given by the Attorney and the Client accepts full responsibility and liability for the
Attorney’s actions in such circumstances.
B. REMUNERATION
Fee Acknowledgement/Debit Authorization
The client hereby ratifies and confirms that he/she has agreed to compensate the Attorney for his/her
services and hereby authorizes Algo Capitals to debit the client’s trading account and credit these fees
directly to the Attorney, according to the listed fees via the PAMM registration schedule.
C. REVOCATION
This LPOA becomes effective when it has been fully completed and shall continue in full force and effect
until such time as Algo Capitals receives and confirms receipt of a written notice of revocation from the
Client. Until such time, Algo Capitals is authorised to rely upon this LPOA in connection with your Algo Capitals
account(s). The death, bankruptcy or mental incapacity of either the Client or the Attorney shall also revoke this LPOA. The effective date of revocation in such events shall be the date upon which Algo Capitals receives and confirms receipt of documentary evidence of any such events.
Revocation of the authority given to the Attorney shall not affect the validity, ratification and indemnity with
respect to any Margin FX and CFD transactions occurred or instructions given by the Attorney prior to
confirmation of receipt by Algo Capitals of Client’s written notice of revocation.
D. GOVERNING LAW
This LPOA is governed by the laws of the St Vincent and the Grenadines, and you agree to irrevocably
and unconditionally submit to the non-exclusive jurisdiction of the courts of the St Vincent and the
Grenadines.
Executed as a deed.
