Terms and Conditions
1. Trading
1.1 Authorisation to trade.
1. The customer’s application to open an Account with Unbranded binds them to the terms and conditions of this Agreement and automatically acknowledges and accepts the below terms and conditions.
2. Unbranded has the right to maintain one account 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”).
3. The risk of all unauthorized instructions administered by his/her Representatives will be borne by the Customer. Customer will indemnify and hold Unbranded harmless from all claims, liabilities, losses, damages, fees, costs, and expenses relating to or arising from Unbranded’ reliance on such instructions, including any improper, unauthorized or fraudulent instructions by the Representatives, except in cases of gross negligence or wilful misconduct by Unbranded.
4. Unless expressly stated otherwise in writing, all transactions between Unbranded and Customer shall be governed by the terms of this Agreement, as amended from time to time (including, without limitation, Unbranded’ Risk Disclosures and Trading Policies and Procedures).
2. Accounts
2.1 Account approvals and maintanance.
1. Unbranded has every right to reject Customer’s application or close Customer’s Account for any reason, at Unbranded’ sole and absolute discretion. The customer will need to provide Unbranded with additional information or documentation. This is done so that Unbranded can continue carrying the Customer’s Account.
2. Unbranded may, at any time in its sole and absolute discretion, restrict trading, disbursements or transfers administered by Customer. Unbranded may amend, change, revise, add or modify the Agreement at any time. The latest Agreement will be posted to Unbranded’ website: https://unbranded.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 Unbranded.
3. Restricted Territory: Unbranded 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. Customer fully understands and agrees that Unbranded are 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), Cuba,Crimea, Ethiopia, Iran, Iraq, Japan, Kenya, Lebanon, Libya, Malta, North Korea, Pakistan, Republic of the Congo, Russian Federation, Somalia, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Vietnam, Yemen, Zimbabwe.
4. Customer, hereby acknowledges and agrees that Accounts are segregated in the Unbranded’ books and records only. Customer also acknowledges that Customer’s funds are not FDIC-insured and are deposited with a liquidity provider, which is selected by Unbranded at its sole discretion.
2.2 Joint account owners.
1. 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.
2. If this Account is held in trust, joint ownership, or partnership, the undersigned hereby agrees to indemnify, defend and hold harmless Unbranded for any losses resulting from a breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account.
3. 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 Unbranded, 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.
4. Upon death or legal incapacity of any of the undersigned, Unbranded 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.
5. Customer agrees to notify Unbranded immediately upon the death or legal incapacity of any joint owner. It is possible that Unbranded terminates this Agreement by written notice to any one of the joint owners.
2.3 Margins and deposit requirements.
1. Customer shall provide and maintain margin in such amounts and in such forms as Unbranded, at its sole discretion, may require.
2. Unbranded 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 Unbranded shall, at its sole discretion, designate.
3. Possibly, Unbranded might change margin requirements at any time without prior notice. Unbranded may limit the amount and/or a total number of open positions that Customer may acquire or maintain at Unbranded, at its full discretion. Unbranded reserves the right to close any Customer positions at any time that it deems necessary. Unbranded 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.
4. Upon death or legal incapacity of any of the undersigned, Unbranded 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.
5. 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
1. At its sole discretion and without notice to Customer, Unbranded may offset Customer’s open positions, roll over 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 Unbranded, at its sole discretion.
2. At Unbranded’ sole discretion, terms and/or methods for delivering, offsetting, or rolling over Customer’s open positions may differ on a customer-by-customer basis.
3. Customer acknowledges and agrees that any positions held in 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.
1. Customer acknowledges and agrees that offset instructions on positions open prior to settlement arriving at settlement date must be given to Unbranded 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 Unbranded within the same period described above.
2. If neither instructions, funds nor documents are received, Unbranded 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 Unbranded 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 Unbranded.
Insufficient margin, or determination by Unbranded 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 Unbranded any information requested pursuant to this Agreement; or
Any other circumstances or developments that Unbranded deems appropriate for its protection. At Unbranded’ 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 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.
1. 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, attorney in fact, or investment advisor or another person to whom Customer has granted trading authority over an Account.
2. The customer understands and agrees that Unbranded 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.
3. The customer further understands and agrees that Unbranded is not responsible for determining the validity of a person’s or entity’s status or capacity to serve as a Money Manager.
4. Customer agrees to hold Unbranded 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.