Social Trading Authorisation and Subscription Agreement (“STASA”)
AxiTrader Limited trading as One Financial Markets (“One Financial Markets”) offers its
registered Clients the option of social trading through Pelican Trading (“Agent”), Pelican
Trading being a trading name of London & Eastern LLP.
1.1 The Client (“Client”) hereby subscribes to follow the trades of the Signal Provider (“Signal
Provider”) and agrees to the performance fee and/or connection charge stated in the
subscription information provided.
1.2 The Client understands that One Financial Markets do not, by implication or otherwise,
endorse the operating methods of the Signal Provider. The Client hereby releases One
Financial Markets from any and all liability to the Client or to anyone claiming through the
Client with respect to the damage, losses or lost profits sustained or alleged to have been
sustained as a result of One Financial Markets following the instructions of the Agent,
and/or the Signal Provider or for any matter arising out of the relationship between the Client
and the Signal Provider and shall indemnify One Financial Markets from any and all losses,
damages, liabilities and expenses, of any kind or nature whatsoever, arising there from.
1.3 The Client agrees to hold One Financial Markets harmless and to indemnify it as to any
expense, damage or liability sustained by it with respect to any and all acts and practices of
the Signal Provider and partly attorney-in-fact regarding this account, including all losses
arising there from.
1.4 The Client authorises the Signal Provider as the Client’s agent and attorney-in-fact with
full power and authority to enter into contracts for the purchase, receipt and sale (including
short sale), whether directly or indirectly through investments in managed investment
products or otherwise, foreign currency contracts, contracts for difference (CFDs) and
related investments (collectively “Contracts”) on margin or otherwise, in one or more
accounts (“Account”) with One Financial Markets in all such transactions, as well as
management decisions relating to the account, One Financial Markets is hereby authorised
to follow the instructions of the Agent; the Agent is authorised to act on behalf of the Client in
the same manner and with the same force and effect as the Client might or could with
respect to such transactions, and with respect to all other things necessary or incidental to
the furtherance and/ or conduct of the Account(s).
1.5 One Financial Markets shall have no liability for following the instructions of the Signal
Provider or Agent, and the Client shall never attempt to hold One Financial Markets liable for
the Signal Providers or Agent’s actions or inactions. The Client understands that One
Financial Markets, does not, by implication or otherwise, endorse the operating methods of
such Signal Provider or Agent. The Client hereby releases One Financial Markets from any
and all liability to the Client or to anyone claiming through the Client with respect to the
damage, losses or lost profits sustained or alleged to have been sustained as a result of One
Financial Markets following the Signal Provider’s or Agent’s instructions or for any matter
arising out of the relationship between the Signal Provider or Agent and the Client and shall
indemnify One Financial Markets from any and all losses, damages, liabilities and expenses,
of any kind or nature whatsoever, arising there from.
1.6 In addition, One Financial Markets is further authorized and directed to deduct from the
Client’s account and pay the Signal Provider the amount of all management fees, incentive
fees, advisory fees and/or brokerage commissions to be paid to the Signal Provider and/or
Agent upon One Financial Markets’ instruction from the Agent. The Client understands that
the calculation of such fees and commissions is conducted by the Agent in accordance with
the terms set out in this STASA as agreed between the Client and the Signal Provider.
1.7 Client acknowledges and agrees to the fees and commissions charged by the Signal
Provider to Client. One Financial Markets is not an agent or representative of the Signal
Provider, and in regard to the fees paid to the Signal Provider, One Financial Markets and/or
Agent is only acting to facilitate the payment of such fees from Client to the Signal Provider.
Any dispute with regards to any fees charged to the Client by the Signal Provider under this
STASA shall strictly be between the Signal Provider and Client, and One Financial Markets
shall have no liability to either for the facilitation of the fees.
1.8 Any amounts due to the Signal Provider from the Client shall be charged to the Client at
the currency equivalent of the Client’s Account base currency.
1.9 The monthly Performance Fee shall be payable within 21 days (if applicable) from the
end of the month to the Signal Provider.
1.10 The Client and the Signal Provider acknowledge that if One Financial Markets cannot
pay the agreed fees and remuneration from the Client’s Account for whatever reason that
the liability falls on the Client to pay the Signal Provider. It is not the responsibility of One
Financial Markets to make good any unfulfilled commitments that the Client and the Signal
Provider may have towards each other.
1.11 The Client accepts that One Financial Markets will pay any fees owed to the Agent from
the Client’s Account under this STASA up until the date of termination of this STASA.
1.12 This STASA does not authorise Signal Provider to change Client’s username or
password or to add, delete or change Client or Account information.
1.13 One Financial Markets is authorised to follow the instructions of the Signal Provider in
every respect concerning the Client’s Account(s) with One Financial Markets and One
Financial Markets is authorised, but not required to, conduct further inquiry or seek
authorisation from the Client or further clarification from Signal Provider and/or Agent or
Client regarding any instruction from the Signal Provider and/or Agent for Client’s
Account(s). One Financial Markets reserves the right, in its sole discretion, to refuse to
honour particular instructions from the Signal Provider and/or Agent, or to no longer honour
instructions or requests for information from the Signal Provider and/or Agent.
1.14 Client and Signal Provider acknowledge that all information provided by either of them
is subject to verification, and Client and Signal Provider authorise One Financial Markets to
verify all information through the use of credit agencies or any other customary or
1.15 The Client acknowledges that One Financial Markets cannot require a Client to do any
"due diligence" on the Signal Provider prior to entering into an Agreement. However, One
Financial Markets encourages Clients to take such measures, and asks that Clients
acknowledge that they have read and, at the minimum, considered taking the following
recommended steps before entering into any Agreement with the Signal Provider: a) Being
provided with a disclosure document that, at the minimum, provides: The Signal Provider’s
biography, outlines the investment methodology, discloses the fees charged by the Signal
Provider, and discloses the risks associated with the investment methodology; Check with an
applicable investment-related regulatory body to ensure the Signal Provider has the
appropriate authorizations (if this is a requirement) to provide their investment services to
you and has never been denied registration, nor that he has any disciplinary history. b) Have
your solicitor/lawyer or accountant verify the accuracy of any performance record provided to
you by the Signal Provider and review any contractual STASA to be executed by and
between you and the other parties involved.
1.16 Client understands that One Financial Markets does not, by implication or otherwise,
endorse the operating methods of Agent.
1.17 The Client agrees to pay One Financial Markets promptly on demand for any and all
losses arising therefrom or debit balance due thereon. The undersigned hereby ratifies and
confirms any and all transactions with One Financial Markets hereafter made by the Signal
Provider for the Client’s Account(s). This Indemnification shall remain in full force and effect
until this STASA is terminated in accordance with the terms of this STASA, such termination
shall not affect any liability in any way resulting from transactions initiated prior to such
termination. One Financial Markets’ rights under this paragraph are in addition to any other
rights it has under other Agreements with Client and/or Agent.
1.18 Client and Signal Provider acknowledge and agree that the Account(s) shall be
governed by this STASA, Risk Disclosure, Execution Policy as well as all other documents
forming part of the Client Agreement (“Client Agreement”). If any terms of this STASA
contradict the Client Account Agreement, the terms of this STASA shall prevail with regards
to the subject matter hereof.
1.19 This document shall remain in effect until written notice of termination is given to One
Financial Markets by either the Agent, Signal Provider or Client. Such termination shall not
affect accrued rights and liabilities or open trading positions.
1.20 The terms of this STASA constitute the entire STASA and understanding between the
parties relating to the subject matter hereof and supersedes any previous Agreement
whether written or oral. All terms, conditions and warranties implied by statute or common
law are excluded to the fullest extent permitted by law.
1.21 This STASA is governed by and shall be construed in accordance with the laws of
England and Wales without giving effect to any conflict of laws doctrine. Each party
irrevocably submits to the jurisdiction of the courts located in England and waives the right to
object that such court does not have jurisdiction over a party. Each party waives, to the
fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of
any suit, action or proceeding relating to this STASA.
1.22 This STASA may be executed in counterparts, in original or by post or scanned
electronic copy, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument.
1.23 Subject as hereinafter provided, neither party shall without the prior express written
consent of the other party assign, novate, transfer, charge, sublicense or deal in any other
manner with this STASA or any of its rights or obligations hereunder. Notwithstanding the
foregoing, One Financial Markets may, without consent, assign or transfer all of its rights
and/or liabilities under this STASA at One Financial Markets’ sole discretion.
1.24 Except for changes made in accordance with this STASA, no deviation, whether
intentional or unintentional shall constitute a modification hereof, nor constitute waiver by
either party or any right hereunder.
1.25 No variation of this STASA shall be valid unless it is in writing and signed by or on
behalf of both parties.