PAMM Terms & Conditions

Make sure you read thoroughly before you become a PAMM Manager or deposit funds into a PAMM Account

1. This is a legal contract between Vital Markets LLC, (hereinafter referred to as “Company”) its successors and assigns, and the party (or parties) executing this document.
2. The PAMM account Terms, jointly with the Terms & Conditions and Risk Disclaimer include all the provisions and conditions provided to the Client by the Company for the use of PAMM accounts. Reading and understanding all of the above documents is a mandatory requirement in order to access the PAMM service. By registering as a Manager or an Investor, the Client acknowledges and confirms that he has read and understood all documents in relation to the PAMM service.
3. The PAMM Account service is intended to connect Investors’ Investment Accounts to the account of the Manager (hereinafter, “Manager”) for purposes of further transactions of the Manager on the financial markets in the interests of the Investors.
4. The PAMM Account unites Investors’ Investment Accounts into a single trading account.
5. The Manager is an agent of the Investor in relation to the Investment Account.All transactions performed by the Manager on the PAMM Accounts are subject to these Terms and Conditions, Risk Disclosure, and General Terms and Conditions.
6. The Vital Markets LLC PAMM Account service is not an asset management tool for Investors. This service provides the opportunity to follow the trading strategies of the Manager, who may manage his/her own personal capital through a specific PAMM Account, with the Investor’s own capital. The investor, voluntarily, at their own risk, selects the Manager. All decisions of acceptance or rejection of the Manager’s offered terms are a personal matter of each potential investor and are received without any recommendation or solicitation by the Company.
7. The Company has no right to disclose any personal information about the Managers. Manager PAMM Account is a personal account of the Company’s Client and therefore its owner’s details cannot be disclosed to third parties. Based on this, any claims and/or requests that may be brought against the Company on behalf of investors against Managers will be rejected.
8. An Investor accepting Manager’s terms confirms that he/she understands and accepts the nature of inherent risks and implications of trading in financial markets.
9. The Company, therefore, states to the investor that it does not and will not guarantee the recurrence of rates of return that have been made by the Manager in the past.
10. All trading on the PAMM Accounts can only be performed by the Manager on the basis of such terms. The Company will reject all claims of the Investor(s) that the Manager failed to comply with their recommendations.
11. All transfers of funds between the Investor’s personal accounts and PAMM trading accounts are carried out only on the basis of requests from Investors. The Manager cannot influence the decision-making for the inflow or outflow of Investor funds.
12. The Investor has no right to bring a claim against the Company’s trading operations conducted in the PAMM Account. Only the Manager, according to procedures set by the Company, may submit a claim to the Company.
13. The Company reserves the right to terminate the provision of the PAMM service to any manager at any time upon its sole discretion. The Company may reject any request of Managers or Investors to provide the motives or reasons for such a decision. Such a decision, in relation to any Manager, cannot be used by Clients as a fact that can harm the Company, its employee, or the owner’s reputation.

PAMM Accounts

1. The customer’s application to open an Account with Vital Markets binds them to the terms and conditions of this Agreement and automatically acknowledges and accepts the below terms and conditions.
2. Vital Markets 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 Vital Markets harmless from all claims, liabilities, losses, damages, fees, costs, and expenses relating to or arising from Vital Markets’ reliance on such instructions, including any improper, unauthorized or fraudulent instructions by the Representatives, except in cases of gross negligence or wilful misconduct by Vital Markets.
4. Unless expressly stated otherwise in writing, all transactions between Vital Markets and Customer shall be governed by the terms of this Agreement, as amended from time to time (including, without limitation, Vital Markets’ Risk Disclosures and Trading Policies and Procedures).

2. ACCOUNTS

2.1 ACCOUNT APPROVALS AND MAINTENANCE.

1. Vital Markets has every right to reject Customer’s application or close Customer’s Account for any reason, at Vital Markets’ sole and absolute discretion. The customer will need to provide Vital Markets with additional information or documentation. This is done so that Vital Markets can continue carrying the Customer’s Account.
2. Vital Markets may, at any time in its sole and absolute discretion, restrict trading, disbursements or transfers administered by Customer. Vital Markets may amend, change, revise, add or modify the Agreement at any time. The latest Agreement will be posted to Vital Markets’ website: https://Vitalmarkets.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 Vital Markets.
3. Restricted Territory: Vital Markets 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 Vital Markets 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 Vital Markets’ 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 Vital Markets 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 Vital Markets 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 Vital Markets, 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, Vital Markets 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 Vital Markets immediately upon the death or legal incapacity of any joint owner. It is possible that Vital Markets 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 Vital Markets, at its sole discretion, may require.
2. Vital Markets 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 Vital Markets shall, at its sole discretion, designate.
3. Possibly, Vital Markets might change margin requirements at any time without prior notice. Vital Markets may limit the amount and/or a total number of open positions that Customer may acquire or maintain at Vital Markets, at its full discretion. Vital Markets reserves the right to close any Customer positions at any time that it deems necessary. Vital Markets 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. 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, Vital Markets 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 Vital Markets, at its sole discretion.
2. At Vital Markets’ 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 Vital Markets 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 Vital Markets within the same period described above.
2. If neither instructions, funds nor documents are received, Vital Markets 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 Vital Markets at its sole discretion.

2.6 LIQUIDATION OF ACCOUNTS.

In the event of:

1. Death or judicial declaration of incompetence of Customer or, in the case of a legal entity, its dissolution or liquidation.
2. 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.
3. Filing of an attachment against any of Customer’s Accounts carried by Vital Markets.
4. Insufficient margin, or determination by Vital Markets that any collateral deposited to protect one or more Accounts of Customer is inadequate, regardless of current market quotations, to secure the Account.
5. Customer’s failure to provide Vital Markets any information requested pursuant to this Agreement; or
6. Any other circumstances or developments that Vital Markets deems appropriate for its protection. At Vital Markets’ sole discretion, it may take one or more, or any portion of, the following actions:
7. Sell any or purchase any or all contracts, securities or other property held or carried for Customer; and
8. 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 Vital Markets 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 Vital Markets 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 Vital Markets 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.

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 Vital Markets 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 Vital Markets 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 Vital Markets 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.