Terms & Conditions

1. TRADING

1.1 AUTHORIZATION TO TRADE.

• The customer’s application to open an Account with Empower LLC binds him to the terms and conditions of this Agreement and automatically acknowledges and accepts the below terms and conditions.
• Empower LLC has the right to maintain one or more accounts in the Customer’s name. It also has the right to engage in transactions for the Customer’s account in accordance with oral, written, or electronic instructions by the Customer and its officers, partners, principals, employees, or other agents (“Representatives”).
• The risk of all unauthorized instructions administered by his/her Representatives will be borne by the Customer. Customer will indemnify and hold Empower LLC harmless from all claims, liabilities, losses, damages, fees, costs, and expenses relating to or arising from Empower LLC’ reliance on such instructions, including any improper, unauthorized, or fraudulent instructions by the Representatives, except in cases of gross negligence or wilful misconduct by Empower LLC.
• Unless expressly stated otherwise in writing, all transactions between Empower LLC and Customer shall be governed by the terms of this Agreement, as amended from time to time (including, without limitation, Empower LLC’s Risk Disclosures and Trading Policies and Procedures).

2. ACCOUNTS

2.1 ACCOUNT APPROVALS AND MAINTENANCE.

• Empower LLC has every right to reject the Customer’s application or close Customer’s Account for any reason, at Empower LLC’s sole and absolute discretion. The customer will need to provide Empower LLC with additional information or documentation. This is done so that Empower LLC can continue carrying the Customer’s Account.
• Empower LLC may, at any time in its sole and absolute discretion, restrict trading, disbursements, or transfers administered by the Customer. Empower LLC may amend, change, revise, add or modify the Agreement at any time. The latest Agreement will be posted to Empower LLC’s website: empowerfx.com. 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 Empower LLC.
• Restricted Territory: Empower LLC reserves the right to restrict access in the future to all or some parts of the Website and/or Services in respect of certain jurisdictions. The customer fully understands and agrees that Empower LLC is not liable if the country of customer’s location or residence becomes restricted or blocked. Restricted Territories include, but are not limited to, individuals residing in: Afghanistan, Botswana, Burma(Myanmar), Democratic Republic of Congo(DPRK), Crimea,Cuba, Ethiopia, Iran, Iraq, Japan, Libya, Malta, North Korea, Pakistan,Republic of the Congo, Russian Federation, Somalia, Spain, Sudan, Syria, Trinidad and Tobago, Tunisia, Yemen, Zimbabwe.
• The customer hereby acknowledges and agrees that Accounts are segregated in Empower LLC’s books and records only. The customer also acknowledges that the Customer’s funds are not FDIC-insured and are deposited with a liquidity provider, which is selected by Empower LLC at its sole discretion.

2.2 JOINT ACCOUNT OWNERS.

• If this Account is held by more than one (1) person, all the joint holders hereby agree that they are all fully 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 Empower LLC for any losses resulting from a breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account.
• Furthermore, any one or more of the joint owners shall have full authority for the Account and at risk of the Account owners, to buy, sell, and trade in transactions of off-exchange products, to deposit with and withdraw from Empower LLC, 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. Moreover, all joint owners have the authority and are liable for all actions including 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, Empower LLC is authorized to take such action with regards to the Account, as the Company may deem advisable to protect itself against any liability, penalty, or loss.
• Customer agrees to notify Empower LLC immediately upon the death or legal incapacity of any joint owner. It is possible that Empower LLC terminates 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 Empower LLC, at its sole discretion, may require.
• Empower LLC may oblige the Customer to deposit by immediate wire transfer such additional margin when and as required by the Company and will immediately meet all Margin Calls in such mode of transmission as Empower LLC shall, at its sole discretion, designate.
• Possibly, Empower LLC might change margin requirements at any time without prior notice. Empower LLC may limit the amount and/or a total number of open positions that Customer may acquire or maintain at Empower LLC, at its full discretion. Empower LLC reserves the right to close any Customer positions at any time that it deems necessary. Empower LLC 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.

• At its sole discretion and without notice to Customer, Empower LLC may offset Customer’s open positions, rollover 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 Empower LLC, at its sole discretion.
• At Empower LLC’s sole discretion, terms and/or methods for delivering, offsetting, or rolling over Customer’ open positions may differ on a customer-by-customer basis.
• Customer acknowledges and agrees that any positions held in the Customer’s Account at 5PM 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.

• Customer acknowledges and agrees that offset instructions on positions open prior to settlement arriving at settlement date must be given to Empower LLC at least one to three business days prior to the settlement or value day. Alternatively, enough funds to take delivery or the necessary delivery documents must be in the possession of Empower LLC within the same period described above.
• If neither instructions, funds nor documents are received, Empower LLC 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 Empower LLC at 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 Empower LLC.
• insufficient margin or determination by Empower LLC 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 Empower LLC any information requested pursuant to this Agreement; or
• any other circumstances or developments that Empower LLC deems appropriate for its protection. At Empower LLC’s 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 the 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 MANAGED 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, an attorney in fact, or investment advisor or another person to whom Customer has granted trading authority over an Account.
• Customer understands and agrees that Empower LLC 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.
• The customer further understands and agrees that Empower LLC 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 Empower LLC 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 the jurisdiction 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, the 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 Empower LLC, and in the event that Customer becomes so employed, Customer will promptly notify Empower LLC via email of such employment;
• The 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 Empower LLC, including information regarding Customer’s trading experience and investment sophistication, is true, correct, and complete. Customer binds himself to notify Empower LLC promptly of any changes in such information.
• Customers cannot engage in transactions for purposes of arbitrage or exploitation of temporary inaccuracies or technical discrepancies.

3.2 DISCLOSURE OF FINANCIAL INFORMATION.

The financial information disclosed to Empower LLC in the Application is warranted by the Customer to be an accurate representation of the Customer’s current financial condition.

3.2.1 Customer represents and warrants that in determining Customer’s Net Worth, Gross Income, Total Assets and Liabilities were correctly calculated.

1. Customer represents and warrants that in determining the value of Total Assets, the Customer included cash and/or cash equivalents, U.S. Government and Marketable securities, real estate owned (excluding primary residence), the cash value of life insurance, and other valuable Assets.
2. In determining the value of Liabilities, the Customer represents and warrants that notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages payable (excluding primary residence), and other debts were included.
3. Customer represents and warrants that Customer has very carefully considered the portion of Customer’s Total Assets that Customer considers to be Risk Capital. The customer also recognizes that Risk Capital is the amount of money the Customer is willing to put at risk. If lost, the Customer acknowledges that this in no way would change the Customer’s lifestyle.
4. Customer agrees to immediately inform Empower LLC 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 Empower LLC and/or any agents acting on behalf of Company to investigate Customer’s credit standing and in connection therewith to contact such banks, financial institutions, and credit agencies as Empower LLC shall deem appropriate to verify information regarding Customer.
• Empower LLC is also authorized by Customer 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 Empower LLC shall deem appropriate.
• Upon reasonable request made in writing by Customer to Empower LLC, Customer shall be allowed to review any records maintained by Empower LLC relating to Customer’s credit standing.
• At the Customer’s sole cost and expense, the Customer is also allowed to copy such records. The customer acknowledges that the Customer’s credit score may be impacted when Empower LLC accesses the Customer’s credit file.
• The customer also acknowledges that Empower LLC may provide information (e.g. negative Account information of unsecured debts) regarding the Customer’s performance under this Agreement to these agencies.

4. ORDER MANAGEMENT

4.1 CANCELLATION AND MODIFICATION REQUESTS.

• The customer acknowledges that it may not be possible to cancel or modify an order.
• The customer understands and agrees that, if an order cannot be cancelled or modified, the Customer is bound by any execution of the original order.
• Should Empower LLC be unable to cancel or modify an order, Empower LLC is not liable in any way.
• The customer further acknowledges that attempts to modify or cancel and replace an order can result in the execution of the order or the execution of duplicate orders. The customer also acknowledges that Empower LLC’s systems do not prevent the execution on order or duplicate orders from occurring and that the Customer shall be responsible for all such executions.
• Customer agrees not to assume that any order has been executed or cancelled until the Customer has received confirmation from Empower LLC with regards to order execution. The customer is responsible for knowing the status of the Customer‘s pending orders before entering additional orders.
• Customer agrees to contact Empower LLC 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.

Written objections on the Customer’s part shall be directed to Empower LLC at its registered address located at Suite 305, Griffith Corporate Center, Beachmont, Kingstown, Saint Vincent and the Grenadines or at the address of their main place of business located in 22A-1 Financial Park, Costa del Este, Panama City, Panama.

• 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.
• Empower LLC will provide the Customer with access to view the Customer’s Account at any time with an online login via the Internet. Empower LLC will not provide trade confirmation via postal mail.
• Written objections on the Customer’s part shall be directed to Empower LLC at its registered address located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 or at the address of their main place of business located in No1, Limassol Avenue 46E, 2014, Nicosia, Strovolos Cyprus.
• The objections sent via email by the Customer shall be deemed to have been given on the date sent by e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of Empower LLC, and on the next business day if sent after normal business hours of Kot Ltd. Empower LLC.
• In addition, if such objections have been sent by registered mail, these will be deemed as received in accordance with the receipt of delivery or default thereof upon the third (3rd) day after the date mailed.
• Failure to object shall be deemed ratification of all actions taken by Empower LLC 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 Empower LLC providing services hereunder. Empower LLC reserves the right to change its charges without notice.
• All such charges shall be paid by Customer as they are incurred, or as Empower LLC in its sole and absolute discretion may determine. Customer hereby authorizes Empower LLC to withdraw the amount of any such charges from the Customer’s Account(s).

4.4 DEPOSITS AND WITHDRAWALS.

• Empower LLC shall neither receive nor disburse Customer’s funds in cash currency or cash equivalents.
• All transactions between Customer and Empower LLC shall be performed by wire, Automatic Clearing House (“ACH”) or any other method whereby identities of both the sending and receiving parties can be verified by Empower LLC and which Empower LLC, in its sole discretion, shall deem appropriate.
• Empower LLC acknowledges and promises to perform deposit/withdrawal transactions which are only between Customer’s Empower LLC Account and another Account which is held in Customer’s name or of which Customer clearly demonstrates ownership to Empower LLC.
• Empower LLC may limit Customer’ withdrawal options in order to prevent money laundering, fraud, and other unauthorized activity.
• Empower LLC’s customers can withdraw their funds and benefits whenever they need to. To request a partial or complete withdrawal of funds from your account, the Customer must click on “Withdrawal request” in the Empower LLC portal.
• Customers must consider that Empower LLC takes 2-5 business days to process withdrawal requests. Corresponding withdrawals will take up to 2-3 business days to reach your credit card or bank account.
• Customers can contact Empower LLC’s Customer support team if the Customer has any questions. Withdrawals must be performed only through the same bank account or credit/debit card that is used to deposit the funds. This is according to generally acceptable AML rules and regulations.
• Furthermore, when it comes to withdrawals, the Customer may be required to present additional information and documents.

4.5 EMPOWER LLC’S RESPONSIBILITIES.

• Empower LLC is and will not be liable 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 Empower LLC’s control or anticipation.
• Empower LLC shall not be liable for losses arising from the default of any agent or any other party used by Empower LLC under this agreement.

4.6 CURRENCY FLUCTUATION RISK.

• If Customer directs Empower LLC to enter into any transaction:(a) any profit or loss arising as a result of a fluctuation in the rates affecting such a transaction will be entirely for Customer’s Account and risk;(b) all initial and subsequent deposits for margin purposes shall be made in USD, or another currency which Empower LLC may choose to accept, in such amounts as Empower LLC may at its sole discretion require, with subsequent deposits being in the same currency as the initial deposit; and (c) Empower LLC is authorized to convert funds in Customer’s Account for margin into and from such foreign currency at a rate of exchange determined by Empower LLC at its sole discretion on the basis of then-prevailing money market rates.

4.7 CROSS TRADE CONSENT.

• Customer hereby acknowledges and agrees that Empower LLC 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.

4.7 CROSS TRADE CONSENT.

• Customer hereby acknowledges and agrees that Empower LLC 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. ORDER MANAGEMENT

5.1 CANCELLATION AND MODIFICATION REQUESTS.

• The customer acknowledges that it may not be possible to cancel or modify an order.
• The customer understands and agrees that, if an order cannot be cancelled or modified, the Customer is bound by any execution of the original order.
• Should Empower LLC be unable to cancel or modify an order, Empower LLC is not liable in any way.
• The customer further acknowledges that attempts to modify or cancel and replace an order can result in the execution of the order or the execution of duplicate orders. The customer also acknowledges that Empower LLC’s systems do not prevent the execution on order or duplicate orders from occurring and that the Customer shall be responsible for all such executions.
• Customer agrees not to assume that any order has been executed or cancelled until the Customer has received confirmation from Empower LLC with regards to order execution. The customer is responsible for knowing the status of the Customer‘s pending orders before entering additional orders.
• Customer agrees to contact Empower LLC 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.