FOREX is not traded on a regulated exchange. There are no guarantees to the credit worthiness of the counter party of your currency position. Every attempt has been made to deal with reputable credit worthy banks/clearing houses. Also, there may be certain cases in which trading liquidity decreases, causing trading in a certain currency(ies) to cease, thereby preventing the liquidation of an adverse position which may result in a substantial financial loss.
Trading in FOREX is suitable only for those sophisticated institutions or individual participants who are financially able to withstand losses, which may equal or exceed the value of margins or deposits.
The market recommendations of GHANA FX are based solely on the judgment of GHANA FX’s personnel. These market recommendations may or may not be consistent with the market position or intentions of GHANA FX, its affiliates, and/or employees. The market recommendations of GHANA FX are based upon information believed to be reliable, but GHANA FX cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will eliminate the risk inherent in trading currency. Any market recommendations of, or information provided by, GHANA FX do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any FOREX transaction. Customer understands and hereby agrees that Customer is capable of, and solely responsible for, assessing the merits and risks of any trade it may enter into with GHANA FX
Customer understands that GHANA FX does not permit its Customer Representatives to either exercise discretion or manage a FOREX account, or hold power of attorney over a FOREX account, unless approved by and executive office of GHANA FX and only after proper documentation has been submitted and approved by GHANA FX. If Customer’s account is not being traded with Customer’s authorization, Customer must notify GHANA FX immediately
GHANA FX’s margin policies and/or the policies of those banks/clearing houses through which trades are executed may require that additional funds be provided to properly margin Customer’s account and Customer is obligated to immediately meet such margin requirements. Failure to meet margin calls may result in the liquidation of any open positions with a resultant loss. GHANA FX reserves the right to refuse to accept any order.
Customer understands that he/she must carefully review the reports relating to Customer’s trading posted online by GHANA FX. Pursuant to the Customer Agreement, all reports of execution will be deemed final unless customer objects within 24 hours of being posted. All statements of account will be deemed final unless Customer objects to such statements within 24 hours of being posted. Objections may be made initially by email or by telephone, but must be confirmed thereafter in writing.
Customer understands that GHANA FX may establish rules and provisions for client accounts, including and not limited to minimum account size, investment time period, commissions and fees, leverage size per instrument, mark ups, rules relating to stop losses and limits, rules relating to rollovers, rules relating to margin calls, or any other financial arrangement, and that such rules and provisions may be changed by GHANA FX from time to time.
The Customer has read and understands the Customer’s obligations and rights under this Customer Account Letter and the following Customer Agreement and agrees and acknowledges that this Customer Account Letter and the following Customer Agreement will control the Customer’s relationship with GHANA FX. The Customer agrees that Customer is fully responsible for making all final decisions as to transactions effected for Customer’s account. Customer has considered the foregoing factors and in view of Customer’s present and anticipated financial resources, Customer is willing and able to assume the substantial financial risks of OTC trading.