Funded Trader Service Agreement

This Service Agreement is dated this day of:


Client:

Name __________________

Funded Trading Plus

71 Humberston Avenue

Grimsby

DN36 4SR


Contractor:

Name _______________

Address

_____________________

_______________________


Background

A The Contractor has successfully completed the Funded Trading Plus Talented Trader Program.

B The Client is of the opinion that the Contractor has the necessary qualifications, experience and abilities to provide financial trading services to the Client.

C The Contractor is agreeable to providing such services to the Client on the terms and conditions set out in this Agreement.

D The Client will provide the Contractor with online access to a live trading account with a value of $_____________

E The Contractor will work from his home or any place of business that suits the Contractor.

F The Contractor will be solely liable for any income tax or other taxes levied in the home country the Contractor resides in.


In consideration of the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Client and the Contractor (individually the "Party" and collectively the "Parties" to this Agreement) agree as follows:


Services provided

1.  The Client hereby agrees to engage the Contractor to provide the Client with the following services (the "Services"):

Trade the provided Funded Trading Plus trading account in accordance with the trading rules listed below.


Term of Agreement

2.  The term of this Agreement (the "Term") will begin on the date of this Agreement and will remain in force and effect indefinitely until terminated as provided in this agreement.

3.  In the event that either party wishes to terminate this Agreement, that party will be required to provide 4 days written notice to the other party.

4.  This Agreement may be terminated at any time by mutual agreement of the parties.

5.  Except as otherwise provided in this Agreement, the obligations of the Contractor will end upon the termination of this Agreement.

6. This Agreement will be automatically terminated if the funded account reaches a drawdown limit of 50%.


Performance

7.  The parties agree to do everything necessary to ensure that the terms of this Agreement take effect.


Currency

8.  Except as otherwise provided in this Agreement, all monetary amounts referred to in this agreement are in US dollars.


Payment

9.  The Contractor is entitled to charge the client for 80% of the accrued a profit on the funded trading account.

10.  The Contractor may invoice the Client, using the invoice template, at a time that suits the contractor but no more than twice a month.

11.  Invoices submitted by the Contractor to the Client are due within 5 days of receipt.

12.  The payment as stated in this Agreement includes any value added tax or other such tax as may need to be levied by the Contractor to satisfy the Contractor's  home country's tax rules.

13. The  Contractor will be responsible for all income tax liabilities and national insurance or similar contributions relating to the payment and the Contractor will indemnify the client in respect of such payments required to be made by the Client.

14.  The Contractor will not be reimbursed for any expenses incurred in connection with providing the services of this Agreement.

15. Payment will be made by the Client directly to the Contractor's bank account, other payment options may be agreed separately between the Client and the Contractor.


Interest on late payments

16.  Interest payable on any overdue amount under this agreement is charged at the rate of 1.5% per annum or at the maximum rate enforceable under applicable legislation, whichever is lower.


Confidentiality

17.  Confidential information (the "Confidential Information") refers to any data or information relating to the Client, whether business or personal, which would reasonably be considered to be private or proprietary to the Client and that is not known generally and where the release of that Confidential Information could reasonably be expected to cause harm to the Client.

18.  The contractor agrees that they will not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Contractor has obtained, except as authorised by the Client or as required by law.  The obligations of confidentiality will apply during the term and will survive indefinitely.  Upon termination of this Agreement.

19.  All written and all information and material disclosed or provided by the Client to the Contractor under this agreement is Confidential Information, regardless of whether it was provided before after the date of this Agreement or how it was provided to the Contractor.


Capacity/Independent Contractor 

20.  In providing the Services under this Agreement, it is expressly agreed that the Contractor is acting as an independent contractor and not as an employee.  The Contractor and the Client acknowledge that this Agreement does not create a partnership or joint venture between them, and is exclusively a contract for service.


Autonomy

21.  Except as otherwise provided in this agreement, the Contractor will have full control over working time, methods, and decision-making in relation to vision of the services in accordance with the agreement.  The Contractor will work autonomously and not at the direction of the Client.  However, the Contractor will be responsive to the reasonable needs and concerns of the Client.


Equipment

22.  Except as otherwise provided in this Agreement, the Contractor will provide at the Contractor's own expense, all computer equipment and broadband/internet connection necessary to deliver the services in accordance with the Agreement.


No exclusivity

23.  The parties acknowledge that this Agreement is non-exclusive and that either party will be free during or after the term to engage other third party contractors for the provision of services similar to the Services.


Notice

24.  All notices, requests, demands or other communications required or permitted by the terms of this Agreement will be given in writing and delivered to the parties at the addresses listed above. Or to such other addresses as either party may from time to time, notify the other.


Assignment

25.  The contractor will not voluntarily, or by operation of law, assign or otherwise transfer its obligations under this Agreement without the prior consent of the client.


Titles and headings

26.  Headings are inserted to the convenience of the parties only and are not to be considered when interpreting this Agreement.


Gender

27.  Words in the singular mean and include the plural and vice versa.  Words in the masculine mean and include the feminine and vice versa.


Governing law

28.  This Agreement will be governed by and construed in accordance with the laws of England.


Severability

29.  In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, all other provisions will nevertheless continue to be valid and enforceable with the invalid or unenforceable parts severed from the remainder of this Agreement.


Waiver

30.  The waiver by either party of a breach, default, delay or omission of any of the provisions of this Agreement by the other party will not be construed as a waiver of any subsequent breach of the same or other provisions.


In witness whereof the parties have duly affixed their signatures under hand and seal this               day of________________


Electronic signatures



Funded Account Trading Rules

  1. The Contractor may use one of the listed trading platforms, other platforms are available.

  2. Products and markets traded by the contractor are to be agreed in advance with the Contractor’s named risk manager. All products in the Talented Trader Program are automatically agreed.

  3. The Contractor may hold trades overnight and over weekends.

  4. The Contractor can hold accumulative live trades within a single market or correlated markets with a maximum risk of  8%.

  5. The Contractor’s total cumulative risk of live trades across all markets is 32%.

  6. The maximum allowed drawdown is 50%, If this level is reached the Contractor’s access to the Funded Account will be removed.

  7. The maximum monthly drawdown allowed is 20%. If this level is reached the Contractor’s access to the Funded Account will be removed.

  8. If the Contractor does not trade the Funded Trading Account for a period of 3 months or more they will be deemed as “inactive”. In this scenario the Client reserves the right to terminate this Agreement.