RMDTrader introducing broker agreement
1. Parties to this Agreement
1.2. Introducing Broker (hereinafter called “IB”), whose name and address appear on the “Profile” section, which is an integral part of this Agreement.
2. Purpose of the Agreement
3.2. “IB” shall mean introducing broker who will introduce customer accounts to RMDTRADER.
3.3. “Customer” means a customer of RMDTRADER who is introduced by the IB.
3.4. “Account” shall mean an account that is established for a Customer introduced to RMDTRADER by the IB.
4. Services of RMDTRADER
4.2. RMDTRADER agrees to accept instructions and orders from the Customers, and send statement of accounts to the Customers introduced by the IB.
4.3. Provide services to the customers introduced by the IB in accordance to the Terms and Conditions of RMDTRADER.
4.4. Provide a license to the IB to use its RMDTRADER trading software, forms, literature, newsletters, market reports and any other informational material provided by RMDTRADER.
4.5. Finders fees and commission to the IB in accordance to the attached Annexure 1.
5. Services provided by the IB
5.2. Deliver to Customer, and/or obtain from Customer and deliver to RMDTRADER, all documentation including, but without limitation, the Customer Account Opening Package, notices, and notifications.
5.3. Obtain and verify Customer information including, but without limitation, Customer’s personal details, information on the reputation of the Customer, its financial capacity and trading objectives.
5.4. Fairly and accurately describe RMDTRADER’s business and profile according to information provided by RMDTRADER.
5.5. Maintain ethical practices, high standard of business, and conduct its business in such a manner to reflect favourably on RMDTRADER.
5.6. Comply with any business-related instruction, terms or direction given by RMDTRADER in relation to IB services.
5.7. Keep records of all Customer Agreements, legal documents, diligence reports or any other information that may arise in the course of business with RMTRADER online.
5.8. Authorize RMDTRADER to inspect or conduct any due diligence it may require from time to time, without any limitation or means of investigation.
5.9. Notify RMDTRADER orally and in writing upon receipt of any Customer complaints or pending or threatened action raised against RMDTRADER in connection with any alleged errors, corrections, or any other matter on any Customer account.
6. Relationship between the parties
7. Compliance, Supervision, and Due Diligence
7.1. The IB will diligently supervise the activities of its officers, employees and sales team, including its agents, to comply with RMDTRADER’s terms as well as local regulations.
7.2. The IB must immediately notify RMDTRADER in writing of any material claim against the IB, whether raised by a Customer or local regulatory agency.
7.3. The IB must introduce Customers to RMDTRADER.
7.4. The IB acknowledges that it may not accept funds from the Customers but must instruct the Customers to make deposits to RMDTRADER segregated client account.
7.5. The IB may not conduct discretionary trading on behalf of the Customers without a written and signed power of attorney from the Customers, which must be pre-approved by RMDTRADER.
7.6. The IB may not give any advice or trading recommendation to the Customers. For avoidance of any doubt, RMDTRADER will not be liable to Customers or the IB for any advice, decision or recommendation given or made by the IB to any Customer, and the IB will indemnify RMDTRADER from any loss or liability arising from any such advice, recommendation, default or neglect by the IB in relation to any customer services.
8. Deficit in Customer accounts
9. Liquidation of positions
9.1. Insufficient margin to protect the position(s) in the Customer account;
9.2. Equity to margin ratio reaches 5% – at RMDTRADER’s sole discretion, contact RMDTRADER for more information.
10. Marketing and Advertising
The IB will not advertise or circulate to customers or any other person any written information concerning RMDTRADER without the prior written approval of RMDTRADER.
11. Proprietary property
The IB further acknowledges that business may be transacted by telephone and fax in case of failure of the trading software for any reason beyond the control of RMDTRADER, as solely determined by RMDTRADER.
11.2. Upon the termination of this Agreement by either party, the IB will return to RMDTRADER all proprietary property such as equipment, software and printed material.
13.1. Any breach by the IB of its duties under this Agreement;
13.2. Any misrepresentation made by the IB herein;
13.3. Any Customer claims relating to any agreement between the IB and the introduced Customers;
13.4. Any deficits on Customer accounts or the failure of any Customer to meet its obligations;
13.5. Any debts or obligations arising from the IB failing to comply with applicable local laws and regulations;
17. Entire Agreement
18.1. The IB does not comply with the terms set out in this Agreement;
18.2. The IB, in RMDTRADER’ sole and reasonable opinion, provides inadequate service to Customers or ceases to provide service to Customers as set out in this agreement;
18.3. The IB is not in good financial standing and RMDTRADER feels the company is in process of liquidation, bankruptcy, or ceases to meet its obligations.
19. Communications and notices
20. No Waiver or Amendments
21. Force Majeure
22.2. Any failure by RMDTRADER to enforce its rights and remedies under these Terms shall not constitute a waiver of such right or remedy.
23. Governing law and jurisdiction
IB may bring no action arising out of the Agreement, regardless of form, more than three months after the cause of such action.
The IB confirms that it has read and understood the terms of this Agreement. By signing below, the IB explicitly agrees to be legally bound by its terms and conditions.
Risk warning: Trading an intricate leveraged product such as Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may result in the loss of all your invested capital. As a result, CFD’s may not be appropriate for all investors. You should be fully aware of and understand the specific characteristics and risks associated with the relevant products before trading in these products.
License Info: RMDTRADER is approved by the Financial Services Commission (FSC) Mauritius as a Global Business License holder under Section 72 of the Financial Services Act 2007 (Company number: 167074 C1 GBL) and as an Investment Dealer (Full Service Dealer, excluding Underwriting) under Section 29 of the Securities Act 2005 (Licence number: C118023752)
RMDTrade (Registration No. 2017/465134/07) is authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa (FSB license number 50259). RMDTrade is not a licensed Over the Counter Derivative Provider (ODP) provider but merely provides backoffice, technical and customer support for clients of RMDTRADER Mauritius. All client agreements are with RMDTRADER Mauritius.