Sapphire Markets CEO LPOA (Individual 10/0)


Sapphire Global Prime Pty Ltd
Level 29, 31 Market Street
SVG 2000

LIMITED POWER OF ATTORNEY


Is granted on (“Date of Commencement”)

I / We the undersigned ("the Client"):

ACCOUNT HOLDER - INDIVIDUAL (If you are an individual, please fill out the boxes below)

Full Name:

Sapphire Markets Account Number:  

 

Hereby appoints and authorises:

ATTORNEY - TRADING AGENT

Trading Agent: SNAPTRADE LTD

Account Number: 2058238042

 

Please Note: Sapphire Global Prime Pty Ltd (“Sapphire”) is not responsible for the selection or actions of the Power of Attorney. Sapphire provides only the platform and liquidity, acting in its capacity as execution only provider. The Power of Attorney, by signing this document accepts that as the Attorney, they are responsible for their own actions and accepts that as part of this but not exclusively, they are required to continue to ensure that the products offered by Sapphire and the investments undertaken are suitable for the clients risk appetite and they and the client are able to participate in trading under local laws and regulations. The Client agrees to: indemnify Sapphire for any losses, damages, costs and/or expenses, including Attorney’s fees arising from this document; that Sapphire is not responsible for any action or omission caused by the Power of Attorney, that they are fully responsible for the choice in Attorney and accepts they should continue to monitor trade activity.

This Deed may be executed in two counterparts, which together will have the same effect as if the Client and Attorney had signed the same document. The Client and/or the Attorney may deliver an executed copy of this Deed to the Firm by facsimile transmission or by emailing a scanned copy of the executed Deed to the Firm, and such delivery shall have the same force and effect as delivery of an original signed copy of this Deed.


The Power of Attorney is granted for the following purposes:

  1. Purchase and sell (including short selling) on the Client's behalf:
    1. Foreign currencies on margin; and
    2. Contract for differences (CFDs)
      ("Authorised Activities").

Terms of the Limited Power of Attorney:

  1.  This Limited Power of Attorney is effective from the Date of Commencement and continues unless or until terminated according to Clause 21

  2.  The Trading Agent, personally and without right of substitution, is hereby granted as agent and attorney- in-fact to purchase and sell (including short selling) on the Client’s behalf:
    1.  Foreign currencies on margin; and
    2.  Contract for differences (CFDs)
       ("Authorised Activities").
  3.  The aforementioned Trading Agent represents that they have all of the applicable legal and regulatory approvals, authorisations and permits, if required.
  4.  The Trading Agent acknowledges that the Account and all transactions entered into on the Account are governed by Sapphire’s Customer Agreement and the Trading Agent agrees to comply with and be bound by the Sapphire’s Customer Agreement when acting with Sapphire on behalf of the Client.

  5.  The Client expressly acknowledges that the commitments resulting from such transactions may substantially exceed the margin and/or the total value of the Client’s assets with Sapphire.

  6. The Client authorises Sapphire to follow the instructions of the Trading Agent in respect of the Authorised Activities.

  7. The Client hereby agrees to indemnify and hold Sapphire Global Prime Pty Ltd (“Sapphire”), harmless for all losses, indebtedness and liabilities arising from actions of the Trading Agent. The Trading Agent is not authorised to withdraw any money, securities, or other property held in the name of the Client. The Trading Agent may not require Sapphire to close the Account or terminate the Agreement. Nor may the Trading Agent request to be removed as Attorney whilst any position remains open or any or pending orders remain on the platform.

  8. The Client gives the right to transmit buy/sell orders to Sapphire and other type of instructions relating to the account and underlying agreements with Sapphire for all types of financial products only to the Trading Agent. Sapphire may transmit client data to the Trading Agent by electronic means, using the Sapphire own or third-party networks (including the Internet). Sapphire is also authorised to grant the Trading Agent electronic access through such networks to the client data stored in Sapphire’s trading servers and to allow the Trading Agent to place order by electronic means.

  9. The Client understands and agrees that Sapphire:
    1. Does not monitor, supervise or endorse the action of the Trading Agent;
    2. Is not responsible for any loss to the Client caused by the actions from the Trading Agent; and
    3. the Trading Agent is the agent of the Client and not Sapphire

  10. The Client hereby authorises Sapphire to:
    1. Deduct pips, fees and/or commissions on a per-trade or other basis from the Client's Account(s) on behalf of Trading Agent.
    2. Provide compensation to the Trading Agent from the revenues generated by the Trading Agent and that this compensation may be paid on a per-trade basis.

  11. The Client may change or revoke such instructions at any time by notice in writing to The Client commits to continuously monitor such payments and the performance of the Account.

  12. The Client understands and accepts that payment of compensation to the Trading Agent may create a conflict of interest for the Trading Agent in that the Trading Agent will have an incentive to make trades on the Client’s behalf. The Client agrees to not hold Sapphire liable for loss caused as a result of this disclosed conflict.

  13. The Client hereby ratifies and confirms any and all foreign currencies and contract for differences (CFDs) transactions with Sapphire heretofore and hereafter made by the Trading Agent on behalf of or for the Account of the Even though the undersigned grants authority to Trading Agent, client should be diligent and closely scrutinize all account activity. Sapphire provides online access to account activity, whereby Client may monitor unrealized and realized profits & losses and account balances, and generate monthly account statements. If the Client has any questions, the Client should contact Sapphire immediately by calling Sapphire Compliance at + 61(2)8999 2044.

  14. The Client ratifies and accepts full responsibility and liability for all instructions given to Sapphire by the Trading Agent (and for all transactions that may be entered into as a result) and will indemnify Sapphire and keep it indemnified against any loss, damage or expense incurred by Sapphire as a result of its acting on such instructions. This indemnity shall be effective:
    1. Whatever the circumstances given rise to such loss, damage or expense; and
    2. whatever the knowledge, acts or omissions of Sapphire in relation to any other account held by any person or body (including the Trading Agent) with Sapphire.
  15. All act performed by the Trading Agent under this Limited Power of Attorney shall be fully binding upon the The Client hereby releases Sapphire fully and in advance from any responsibility and liability for any of the Trading Agent’s act and/or omission. The Client further agrees that they will indemnify Sapphire for loss, damage or expense incurred by Sapphire in reversing incorrect or erroneous instructions submitted by the Trading Agent that result in a transaction that must, for the protection of Sapphire or its other Clients or for reasons of market integrity, be reversed.

  16. The Client acknowledges and accepts that, in providing an electronic or online trading system to the Attorney, Sapphire has the right but not the obligation to set limits, controls, parameters and/or other controls on the Trading Agent’s ability to use such a system. The Client accepts that if Sapphire chooses not to place any such limits or controls on the Trading Agent’s trading, or if such limits or controls fail for any reason, Sapphire will not exercise oversight or control over instructions given by the Attorney and the Client accepts full responsibility and liability for the Attorney’s actions in such circumstances.

  17. The Trading Agent acknowledges the limited nature of this Power of Attorney, as set out in the preceding paragraph, and the Trading Agent agrees not to take any action that would or may fall outside the power granted herein.

  18. The Trading Agent will indemnify Sapphire and keep it indemnified against any loss, damage or expense incurred by Sapphire as a result of: (i) Sapphire acting on instructions of the Attorney that fall outside the power granted herein; or (ii) the Attorney’s breach of any term of this Power of Whether or not the Trading Agent may use its own discretion, when dealing on behalf of the Client, under this Power of Attorney is a separate matter, to be determined between the Trading Agent and the Client. Sapphire is not required to investigate or make enquiries regarding such matter.
  19. Sapphire, acting in its absolute discretion, may decide that it will no longer accept instructions from the Trading Agent in relation to the Account. If Sapphire does so, it must provide reasonable notice to the Client. Sapphire need not specify its reasons for no longer accepting instructions from a Trading Agent , but for the avoidance of doubt such reasons may relate to the Trading Agent’s personal dealings with Sapphire, for example but without limitation, if the Trading Agent owes money to the Firm on its own account.
  20. The Limited Power of Attorney over the Client's account terminates only upon written notice of the Client revoking the authority granted to the Trading The written notice of revocation should be addressed to Sapphire Customer Service, Level 29, 31 Market Street, Sydney NSW 2000 Australia or sent via email to compliance@Sapphireprime.com. Such revocation shall not affect any obligation or liability in any way resulting from Contracts or transactions initiated prior to such revocation. Client acknowledges that Trading Agent may have open positions at the time a revocation of this POA is received and that Client may be exposed to market risk until Trading Agent closes Client’s positions. This authorization and indemnity shall inure to the benefit of Sapphire and its successors, assigns and agents.

Please see the appropriate fee structures below:

Client hereby ratifies and confirms that he/she has agreed to compensate Trading Agent for his/her services and hereby authorizes Sapphire to debit Client's trading account and credit these fees directly to trading agent, according to the following terms:

Performance Fees: 10% per month paid after the high watermark (pro rata)

Management Fees: None

THIS POWER OF ATTORNEY IS EXECUTED AS A DEED AND IS DELIVERED AND TAKES EFFECT ON THE DATE OF THE LAST SIGNATURE BELOW.

TO BE SIGNED BY THE CLIENT: I, THE CLIENT, AGREE TO ALL OF THE TERMS SET OUT ABOVE AND EXECUTE AND DELIVER THIS POWER OF ATTORNEY AS A DEED.

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Document name: Sapphire Markets CEO LPOA (Individual 10/0)
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November 1, 2021 6:28 pm GMTSapphire Markets CEO LPOA (Individual 10/0) Uploaded by Simply Success Academy - support@simplysuccess.academy IP 94.173.153.10