第一步	第二步	第三步	第四步
协议声明	客户须知	填写表格	汇款方式

风险说明
下面的简短声明并不能揭示保证金差额契约交易中的全部风险以及交易中涉及的所有事项。客户应在完全理解差额契约交易和约的全部细节和风险特征后再开始交易。此外，并非所有的人都适合进行保证金差额契约交易，客户必须仔细考虑自己的投资经验、投资目标、财务实力和其他重要方面的因素后再决定是否参与保证金差额契约交易。 1. 保证金的“杠杆”效应 保证金差额契约交易涉及到很高的风险。在保证金差额契约交易中，保证金只占合约价值很小的比例，即所谓杠杆效应。市场相对很小的波动就可能给客户的帐户造成很大的影响，这种效应有时对客户有利，有时对客户不利。有时可能损失全部的初始保证金，有时则需要追加保证金，以便维持帐户中的未平仓头寸。如果市场朝着客户头寸相反的方向移动，或者因市场等状况的变化 DFA 提高保证金要求，客户将被要求追加额外的保证金。如果客户没有按时追加保证金，则帐户中的头寸将被全部强制平仓，由此造成的所有损失由客户自己负担。 2. 旨在减少风险的交易指令和交易策略的使用注意事项 客户经常需要使用诸如“止损”、“止损限价”这类指令，以便将交易失误时的可能损失控制在某个限度以内。但客户必须谨慎使用这些指令，因为在特定的市场情况下，这类指令可能无法在客户指定的价格附近执行甚至根本无法执行。在使用组合头寸交易策略时，例如“差价”交易、“骑墙”式交易策略，其风险可能与简单地持有“多头”或“空头”头寸一样高。 3. 合约的条款 在开始交易之前，客户应全面、准确地理解具体交易货币的合约的所有细节，如有问题，可向 DFA 或其代理人垂询。 4. 各种原因造成的交易暂停或交易受到限制的风险 有些市场状况（即市场失去流动性）和/或某个市场因政府采取汇率管制及其他干预措施或通讯线路中断造成交易暂停，将造成开仓或平仓非常困难或根本无法进行交易，会导致风险急剧增加。 5. 资产的保全 客户应了解如何保护所存入的现金或其他形式的资产，尤其要了解在有关公司破产的情况下如何保护自己的财产。客户能够索回财产的多寡取决于当地的有关法律和法规。 6. 佣金和其他费用 客户在开始交易之前，应清楚了解佣金、利息以及其他客户必须支付的费用的收取标准。这些费用将会直接减少客户的利润（如果有的话）或增加客户的亏损。 7. 有关投资者保护的法律及司法管辖权问题 在客户自己国家以外的司法管辖地进行差额契约交易，还面临额外的风险。因为那里的法律对投资者的保护可能与本地不同，或者提供的保护较少。在进行交易之前，客户应向 DFA 或其代理人查询这方面的情况。客户本国的有关保护投资者的法律将不适用于发生在其司法管辖权以外的交易事项。 8. 货币兑换风险 客户在差额契约交易中实现的利润或损失，还会受到另外的汇率变动的风险，如当客户将利润或亏损兑换成自己国家的货币时，就会面临本币汇率变动的风险。 9. 交易设备造成的风险 差额契约交易不是在通常的交易所内进行的，因此没有公开喊价。差额契约交易的报价是通过许多计算机组成的系统提供的。交易指令的传送、执行，以及买卖双方的撮合都是通过许多计算机组成的系统实现的。与任何设备或系统一样，电子化交易系统偶尔也会出现故障。这种故障的排除能力，取决于有关的设备及服务提供商、银行或其他金融机构。客户可就这方面的问题向有关机构查询。 10. 电子化交易的风险 电子化交易系统不但与公开喊价的市场有所不同，而且也可能与其他电子化交易系统有差别。在电子化交易系统进行交易，有系统硬件或软件故障的风险。当出现这种情况时，客户的指令有可能被错误地执行或根本就没有被执行。 免责声明: a) 互联网故障 由于 DFA 无法控制客户电脑的配置、网络连接的可靠性等因素，因此， DFA 不对因通讯故障、通讯错误或延迟等造成的一切后果负责。 b) 市场风险与在线交易 差额契约交易涉及很高的风险，并不是每个人都适于参与黄金交易。有关的详细陈述请参阅客户协议中的相关部分。在线交易不论多么方便、有效，也未必一定会减低差额契约的风险。 c) 密码的保护 客户必须保护好帐户密码，防止任何第三方知道。DFA 保证不会将客户的密码泄露给任何第三方。 d) 报价错误 有时交易员可能出现打字错误因而造成报价错误， DFA 不对由此造成的客户帐户错误负责。但 DFA 保留对有关帐户作出必要修改或调整的权利。由此引起的一切争议将以出现报价错误时市场的公平价格为基础加以解决。 11. 场外交易的风险 在差额契约交易中，交易代理机构并不只限于在场外进行交易。有时也会充当客户的交易对方。在差额契约交易中，有时将现有未平仓头寸平仓可能相当困难，甚至根本无法平仓，在评估现有头寸的价值、确定市场的公平价格以及评估风险暴露程度等方面也会遇到类似的问题。这些原因有时会额外增加差额契约场外交易的风险。此外，差额契约交易由于是遍布全球的、松散的店头市场，因此受到的监管较少，相对于集中的交易所内的交易而言，不规范因素可能较多。客户在实际开始差额契约交易前，应了解这些因素。 This brief statement does not disclose all of the risks and other significant aspects of trading in leveraged investments. In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk. TRADING IN LEVERAGED CONTRACTS SUCH AS CFD CONTRACTS IS NOT SUITABLE FOR EVERYONE, ONLY SOPHISTICATED FINANCIAL INSTITUTIONS AND/OR SOPHISTICATED INDIVIDUAL MAY TRADE CFD CONTRACTS OFF EXCHANGE. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other circumstances. 1. Effect of ‘Leverage’ or ‘Gearing’ Transactions in OTC accounts carry a high degree of risk. The amount of initial margin is small relative to the value of the OTC contract so that transactions are ‘leveraged’ or ‘geared’. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit; this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with the firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit. 2. Risk-reducing orders or strategies The placing of certain orders (e.g. ‘stop-loss’ order, where permitted under local law, or ‘stop-limit’ orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as ‘spread’ and ‘straddle’ positions may be as risky as taking simple ‘long’ or ‘short’ positions. 3. Terms and conditions of contracts You should ask the firm with which you deal about the terms and conditions of the specific contract which you are trading and associated obligations (e.g. the circumstances under which you may become obligated to make or take delivery of the full value). 4. Suspension or restriction of trading and pricing relationships Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. suspension of trading in any CFD’s contract because of price limits, government intervention or “circuit breakers”) may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. 5. Deposited cash and property You should familiarize yourself with the protections accorded to money or other property you deposit for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. 6. Commission and other charges Before you begin to trade, you should obtain a clear explanation of all commission, fees, markups, markdowns, rollovers, interest rate differential and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss. 7. Transactions in other jurisdictions Transactions on CFD of other countries in other jurisdictions, including markets formally linked to a domestic market, may expose you to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before you trade you should inquire about any rules relevant to your particular transactions. Your local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been effected. You should ask the firm with which you deal for details about the types of redress available in both your home jurisdiction and other relevant jurisdictions before you start to trade. 8. Currency Risks The profit and loss in transactions in CFD contracts (whether they are traded in your own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency. 9. Trading facilities OTC business is not traded on a regulated market and therefore does not require open-outcry. Even though quotations or prices are afforded by many computer-based component systems, the quotations and prices may vary due to market liquidity. Many electronic trading facilities are supported by computer-based component systems for the order-routing, execution or matching of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the bank and/or financial institution. Such limits may vary; you should ask the firm with which you deal for details in this respect. 10. Electronic trading Trading on an electronic trading system may differ not only from trading in the interbank market but also from trading on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. Disclaimers a) Internet failures Since DFA does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when you trade on-line (via Internet). b) Market risks and on-line trading Trading CFD involves substantial risk that is not be suitable for everyone. See Trader Agreement for more detailed description of risks. Trading on-line, no matter how convenient or efficient, does not necessarily reduce risks associated with CFD trading. c) Password protection The Trader is obligated to keep passwords secret and ensure that third parties do not obtain access to the trading facilities. The Trader will be liable to DFA for trades executed by means of the Trader’s password even if such use may be wrongful. d) Quoting errors Should quoting errors occur due to a dealer’s mistype of a quote or an erroneous price quote from a Trader, such as but not limited to a wrong big figure quote, DFA will not be liable for the resulting errors in account balances. DFA reserves the right to make the necessary corrections or adjustments on the account involved. Any dispute arising from such quoting errors will be resolved on a basis of a fair market value of a CFD at the time such an error occurred. 11. Off-exchange transactions In OTC, firms are not restricted to effect off-exchange transactions. The firm with which you deal may be acting as your counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before you undertake such transactions, you should familiarize yourself with applicable rules and attendant risks.

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客户账户信及客户协议 客户账户信 DIRECTFOREX ASIA INC 在 British Virgin Islands 注册，本协议是 DFA 与客户之间的正式法律合同 客户若在通过 DFA 进行期货、期指、黄金或股票合同的买卖以及头寸处理等场外交易应认真遵守以下建议并正确理解下列因素在差额契约交易中的影响，此外，还应了解后面的风险揭示声明中列示的各项风险因素。 1. 固定的交易场所。交易对手的信用状况无法得知，另外，在有些情况下，市场的流动性可能大幅下降，在这种情况下持有与行情相反方向的头寸可能遭受巨大损失。 2. 从事差额契约交易需要有一定的承受损失的能力，因为在投资失误时可能出现很大的损失。 3. DFA 的市场评论仅仅是 DFA 雇员的个人判断，并不代表 DFA 的观点。 DFA 的市场评论是基于我们认为可靠的信息得出的，但 DFA 不能保证这些评论的正确性和准确性。 DFA 的评论仅供参考，不构成任何买卖建议。 4. DFA 不允许自己的雇员操作客户的帐户，除非他经过 DFA 有关官员的正式批准。如果客户发现其帐户在未经授权的情况下被他人操作，应立即向 DFA 负责客户投诉的主管人员投诉。 5. 按照 DFA 的保证金政策， DFA 或有关银行、结算机构可能要求客户提供额外的资金，以便有足够的保证金维持客户的既有头寸。如果客户不能及时按照追缴保证金通知的要求向其帐户追加保证金， DFA 将把该客户帐户中的所有未平仓头寸全部强行平仓，由此造成的损失由客户自己承担。 6. 客户必须仔细核对 DFA 提供的交易数据或报告，以及所有指令执行方面的报告，客户可以提出异议的期限为24小时，所有帐户报告投诉的有效期为一天。如果客户有异议，可以在上述期限内向 DFA 有关部门投诉。 7. 客户应了解， DFA 的电子化交易系统，不但可能与公开喊价的市场有所不同，而且也可能与其它电子化交易系统有差别。在电子化交易系统进行交易，有系统硬件或软件故障的风险。当出现这种情况时，客户的指令有可能被错误地执行或根本就没有被执行。 8. 客户被理解为已经阅读并正确理解了下述协议中规定的客户的责任和义务，该协议是规范 DFA 与客户之间相互关系的正式法律文件。并且，客户表示同意，对一切影响到帐户状况的决策拥有最终的决定权，也愿意并能够承担由此造成的差额契约交易的风险。 客户协议 在客户于本协议上签字后， DFA 同意为客户开立一个或多个交易帐户，并提供协议规定的与差额契约交易（包括期权及其它衍生工具的交易，以下统称差额契约交易）相关的各项服务。客户同意以下各项条款： 1. 授权交易 客户授权 DFA， 在客户用口头、书面或网络方式发出交易指令后， DFA 可以通过其伙伴银行或其它 DFA 认为有资格的金融机构为客户所属帐户进行差额契约交易。 2. 政府、合作金融机构和银行间市场的规则 客户确认，基于本协议的所有交易都必须遵守相关的法律、规章、惯例，包括联邦法律、有关州的法律、有关的合作银行的规定以及其它银行间市场的规则。 3. 保证金要求 客户应按 DFA 的要求向其帐户存入并维持足够的保证金。 DFA 的保证金要求可能高于或低于相关银行的相应要求。 DFA 随时可能改变保证金要求。客户保证一旦 DFA 发出下述第 3.1 款的保证金催缴通知，将按照 DFA 的规定立即并足额向其帐户追加保证金。按照下述第 6 款的规定， DFA 随时都可以对客户的帐户进行清算，如果 DFA 没有依第 6 款的规定清算客户的帐户，并不表示 DFA 放弃这一权利。 DFA 保留对客户的交易量或维持未平仓头寸数量设置限额的权利。 DFA 力争执行所有已经接受的、来自客户的的口头、书面的或通过网络发送的交易指令，但 DFA 保留拒绝接受客户指令的权利。 DFA 对于任何 DFA 无法控制的事件给客户帐户造成的直接或间接的损失不负任何责任，包括但不限于因停电、网络通讯故障等造成的指令、信息等的传输延迟、传输错误造成的客户帐户直接或间接损失。 3.1 追加保证金级数 在交易平台帐户信息窗口中的[追加保证金]列下的字母和号数将作以下解析： N - 没有追加保证金 1 - 第一级 - 无 2 - 第二级- 客户的净值低于已用保证金的百分之五十。所以未平 仓头寸将自动被锁仓。客户须增加保证金才能继续交易。 3 - 第三级- 客户的净值已用保证金为 0%。所有未平仓头寸将自动被平仓。 4. 结算日和展期 在客户没有发出相反指示的情况下，即表示客户基于风险方面的考虑授权给 DFA，在结算日结束时自动将客户的全部或部分未平仓头寸展期或锁仓。 5. 抵押及贷款协议 客户以各种目的（可能包括资产管理）存放在 DFA 的现金、证券或其它形式的资产，都可作为一般抵押物用于冲销客户帐户可能出现的亏损。 DFA 可能随时将客户的部分或全部资金或资产在同一客户的不同帐户间划转而不必事先通知客户。客户同时赋予 DFA 下列权利，即DFA 可以将客户的保证金（包括现金和其它形式的财产）抵押、再抵押或贷款给作为客户经纪人的 DFA。任何客户都不得要求 DFA 将客户已经交割给DFA 或 DFA 已经购买的同一资产再交割给客户。 DFA 的上述权利符合（美国）《商品交易法》的相关规定。上述贷款协议的目的在于允许 DFA 利用存款收据作为抵押物。因为一旦客户在结算日要求交收货币， DFA 必须在 24 小时内首先替客户全额支付交割所需款项。如果客户帐户余额不足以支付交割所需金额，客户保证金存款收据就可以充当支付交割款项的资产。上述授权适用于所有客户帐户，并在客户完全支付相关款项或 DFA 总部发出取消通知之前一直有效。 6. 帐户清算和差额补偿 当下列事项发生时，客户的帐户将被清算：（a）客户亡故或被法院宣布无适当行为能力；（b）客户申请破产；（c）客户在 DFA 帐户的财产被法院扣押；（d）客户保证金不足；（e）客户没有按本协议的规定提供必要的和准确的信息；（f） DFA 认定的其它足以导致必须清算客户帐户的情况。当以上任何一种或多种情况发生时，DFA 有权在没事先通知的情况下对客户的帐户进行清算。在清算客户的多头或空头头寸时， DFA 依据自己的判断，可能采取直接平仓的措施，也可能在客户帐户中建立 客户协议 在客户于本协议上签字后， DFA 同意为客户开立一个或多个交易帐户，并提供协议规定的与差额契约交易（包括期权及其它衍生工具的交易，以下统称差额契约交易）相关的各项服务。客户同意以下各项条款： 1. 授权交易 客户授权 DFA， 在客户用口头、书面或网络方式发出交易指令后， DFA 可以通过其伙伴银行或其它 DFA 认为有资格的金融机构为客户所属帐户进行差额契约交易。 2. 政府、合作金融机构和银行间市场的规则 客户确认，基于本协议的所有交易都必须遵守相关的法律、规章、惯例，包括联邦法律、有关州的法律、有关的合作银行的规定以及其它银行间市场的规则。 3. 保证金要求 客户应按 DFA 的要求向其帐户存入并维持足够的保证金。 DFA 的保证金要求可能高于或低于相关银行的相应要求。 DFA 随时可能改变保证金要求。客户保证一旦 DFA 发出下述第 3.1 款的保证金催缴通知，将按照 DFA 的规定立即并足额向其帐户追加保证金。按照下述第 6 款的规定， DFA 随时都可以对客户的帐户进行清算，如果 DFA 没有依第 6 款的规定清算客户的帐户，并不表示 DFA 放弃这一权利。 DFA 保留对客户的交易量或维持未平仓头寸数量设置限额的权利。 DFA 力争执行所有已经接受的、来自客户的的口头、书面的或通过网络发送的交易指令，但 DFA 保留拒绝接受客户指令的权利。 DFA 对于任何 DFA 无法控制的事件给客户帐户造成的直接或间接的损失不负任何责任，包括但不限于因停电、网络通讯故障等造成的指令、信息等的传输延迟、传输错误造成的客户帐户直接或间接损失。 3.1 追加保证金级数 在交易平台帐户信息窗口中的[追加保证金]列下的字母和号数将作以下解析： N - 没有追加保证金 1 - 第一级 - 无 2 - 第二级- 客户的净值低于已用保证金的百分之五十。所以未平 仓头寸将自动被锁仓。客户须增加保证金才能继续交易。 3 - 第三级- 客户的净值已用保证金为 0%。所有未平仓头寸将自动被平仓。 4. 结算日和展期 在客户没有发出相反指示的情况下，即表示客户基于风险方面的考虑授权给 DFA，在结算日结束时自动将客户的全部或部分未平仓头寸展期或锁仓。 5. 抵押及贷款协议 客户以各种目的（可能包括资产管理）存放在 DFA 的现金、证券或其它形式的资产，都可作为一般抵押物用于冲销客户帐户可能出现的亏损。 DFA 可能随时将客户的部分或全部资金或资产在同一客户的不同帐户间划转而不必事先通知客户。客户同时赋予 DFA 下列权利，即DFA 可以将客户的保证金（包括现金和其它形式的财产）抵押、再抵押或贷款给作为客户经纪人的 DFA。任何客户都不得要求 DFA 将客户已经交割给DFA 或 DFA 已经购买的同一资产再交割给客户。 DFA 的上述权利符合（美国）《商品交易法》的相关规定。上述贷款协议的目的在于允许 DFA 利用存款收据作为抵押物。因为一旦客户在结算日要求交收货币， DFA 必须在 24 小时内首先替客户全额支付交割所需款项。如果客户帐户余额不足以支付交割所需金额，客户保证金存款收据就可以充当支付交割款项的资产。上述授权适用于所有客户帐户，并在客户完全支付相关款项或 DFA 总部发出取消通知之前一直有效。 6. 帐户清算和差额补偿 当下列事项发生时，客户的帐户将被清算：（a）客户亡故或被法院宣布无适当行为能力；（b）客户申请破产；（c）客户在 DFA 帐户的财产被法院扣押；（d）客户保证金不足；（e）客户没有按本协议的规定提供必要的和准确的信息；（f） DFA 认定的其它足以导致必须清算客户帐户的情况。当以上任何一种或多种情况发生时，DFA 有权在没事先通知的情况下对客户的帐户进行清算。在清算客户的多头或空头头寸时， DFA 依据自己的判断，可能采取直接平仓的措施，也可能在客户帐户中建立 新的多头或空头头寸，以便建立差价组合头寸或骑墙式组合头寸，目的均在于减少客户帐户的风险暴露程度。如果客户的帐户在清算后的余额为负数，则客户必须尽快补足这一差额和相应的利息（ DFA 的关系银行利率加 3 个百分点，或法律许可的最高利率）以及其它费用，包括法律费用、证人费用和相关的旅行费用等。客户承诺，在发生上述事项时承担上述相关费用。 7. 结算日锁仓指令 在结算日来临时，如果客户将现有的未平仓头寸锁仓，则至少必须在结算日前一天向 DFA 发出指令。或者在上述期间内客户在 DFA 存有足够交割的资金，或客户已经向 DFA 提供了必要的交割文件。如果 DFA 既没有收到客户的相关指令也没有客户提交的交割文件，客户也没有足够的资金，则 DFA 在没有事先通知的情况下，将自行将客户的头寸锁仓或展期，或者按照 DFA 认为适当的方式代表客户执行交割手续。 8. 交易报告的确认 DFA 向客户提供的指令确认报告和帐户报告被认为是正确无误的、并且是不可更改的和具有约束力的，除非客户在上述报告（通过邮件或其它方式）发送给客户起一天内客户提出异议（书面形式）。催缴保 证金通知也是不可更改的和必须遵守的，除非客户立即以书面方式提出异议。客户就上述报告提出的书面异议应直接提交给位于 Akara Bldg.,24 De Castro Street, Wickhams Cay I Road Town Tortola, British Virgin Islands 的 DFA 总部。客户不提出异议视为认可 DFA 及其代理人的处理结果。客户未能收到有关的交易确认报告不能作为没有及时提出异议的理由。 9. 通讯 DFA 将会按照客户提供的最新地址发送各种报告和通知。所有的通信，不论是通过邮件、电报或其它方式，只要具备必要的证明已经发出的证据，如收寄局的收据等，就认为 DFA 已经将报告或通知发出，也认为客户在必要的时间内应该收到，不论客户是否实际收到上述报告或通知。 10. DFA 的责任 DFA 对因通讯故障、停电和任何其它 DFA 无法控制或无法预料的原因引起的交易指令传输延迟不负任何责任。 DFA 只对由于 DFA 自己疏忽、故意性的过错或欺骗性行为负责。 DFA 对基于本协议的任何代理人的过错行为导致的客户损失不负责任。由于差额契约交易不是在集中的交易所内进行，因此， DFA 的成交价或报价不一定与其它经纪机构的成交价或其它报价者的报价相同。 11. 差额契约波动风险 如果客户指示 DFA 进行差额契约交易，则（a）客户完全享有或承担任何由于市场波动产生的利润或亏损；（b）初始保证金和追加保证金必须是美元，并且满足 DFA 要求的金额；（c）如果客户汇入的保证金不是美元，则 DFA 有权按照当时市场汇率将客户的非美元货币兑换成美元。 12. 风险确认 客户确认，不论是保证金还是非保证金差额契约交易，都包含很高的风险，因此只有那些有能力承受投资损失超过其存入保证金的人才适合参与差额契约交易。客户清楚地知道，由于差额契约交易中的保证金要求很低，汇率的波动可能造成很大的损失，其金额可能远远超过客户存入的保证金。客户保证，愿意并有能力承担差额契约交易的风险，客户也同意依据 DFA、 DFA 的雇员、代理人或其代表的交易建议进行交易出现损失时，不追究 DFA 的责任。客户充分理解保证盈利或保证不亏损是不可能的。客户确认在操作其在 DFA 的交易帐户方面，没有得到来自 DFA 或者任何 DFA 的代表以及其它相关机构的上述保证。） 13. 交易建议 （a）客户确认（i） DFA 向客户提供的任何交易建议或信息均不构成正式的买卖依据；（ii）任何这类交易建议和信息（即使 DFA 认为是可靠的）可能仅仅是某个经纪机构的观点，并且可能是不完整的和未经证实的；（iii） DFA 不保证，也不负责所提供的交易建议的准确性和完整性；（b）客户进一步确认，假如客户希望将帐户的操作权委托给第三方，则 DFA 没有就客户的选择进行评论和提供建议的责任，也不会对客户授权人操作失误造成的损失负责。 14. 客户的陈述和保证 客户承诺并保证：（a）客户精神正常、符合法定年龄和具有法定行为能力；（b）没有其它人在客户的帐户有共同利益；（c）客户保证自己适合于进行差额契约交易；（d）客户目前不是任何交易所的雇员，也不是持有任何交易所多数股权的公司的雇员，也不是任何交易所会员公司的雇员，也不是任何银行、信托公司、保险公司的雇员。如果客户今后成为上述公司的雇员，应立即书面通知 DFA 总部；（e）客户在本协议中提供的所有信息在签署本协议时都是真实的、正确的和完整的。任何上述信息出现变化，客户将立即通知 DFA。 15. 财务信息的披露 客户承诺并保证，客户在本协议中向 DFA 披露的财务信息准确地描述了客户当前的财务状况。客户保证，已经就动用多少财产在差额契约投资方面冒险做了深思熟虑的考量，并确认万一这部分资产全部输光也不会影响到客户的正常生计。客户同意，一旦客户的净资产、流动资产或可用于风险投资的资产减少，将立即通知 DFA。 16. 无盈利或亏损限额保证 客户承认与客户的经纪人、 DFA 的雇员或其代理人之间不存在与客户在DFA 开立的交易帐户相关的单独协议，包括任何保证利润或亏损限额方面的协议。除非客户已经按照 DFA 的规定履行了正式的交易授权手续，否则，任何交易指令都应由客户自己决定。客户任何有关交易方面的异议都应依本协议的规定提交给 DFA 负责客户投诉的官员。由于客户未能及时提出异议造成的一切后果由客户自己负责，与 DFA 无关。本部分提到的所有投诉都应提交给 DFA 总部。 17. 联合帐户 《客户帐户信》和《客户协议》同样适用于联合帐户。联合帐户的每一个合伙人都具有的权利包括：（a）依设立该联合帐户的有关协议进行交易；（b）接收与帐户有关的信件和文件；（c）从帐户中收到或提取资金；（d）执行与该帐户相关的协议；（e）与 DFA 紧密合作。 DFA 有权要求联合帐户的所有合伙人共同采取协议规定的行动。如果发生联合帐户合伙人亡故的情况，应立即以书面形式通知 DFA，并提供死亡证明文件。与此相关的所有费用均由联合帐户支付。除非有明确的持有人权益分配说明，否则，联合帐户的每个合伙人被视为拥有相同的权益。 18. 协议条款的弃权和修改 对本协议的任何条款的放弃或修改都必须有客户和 DFA 的授权代表共同签字的书面文件才能生效。双方的口头协议或任何一方向另一方发出的指示均不作为放弃或修改协议中任何条款的依据。本协议及其附件是客户与 DFA 之间的完整的和全部的协议，也包含了此前双方达成的全部的口头及书面协议。除本协议的规定外，双方之间不存在任何其它协议。 19. 司法管辖权 本协议规定了双方的权利与义务，任何由此直接或间接引起的法律和行政事项的解决适用于 DFA 总部所在地英国维京群岛。 20. 协议的效力 本协议在其有效期内持续有效， DFA 自身的变动（如合并、结构调整等）、人事变动不会影响本协议的效力。客户同意，在协议有效期内，认真履 行协议规定的各项权利和义务。 21. 协议的终止 在本协议终止前，本协议持续有效。但当客户帐户中没有未平仓头寸和债务时，客户和/或 DFA 可以通过书面形式向对方提出终止协议的请求。但协议的终止不能解除此前发生的任何权利和义务关系。 22. 赔偿 客户同意由于客户未能完全和及时履行客户协议规定的义务或因客户提供的信息不真实、不准确导致 DFA 受到的损失、造成的支出包括律师费用等向 DFA 作出赔偿。 23. 专有名词 专有名词 “DFA” 的含义包括 DIRECTFOREX ASIA INC. 及其分支机构、继任者或任何 DFA 指定的机构；“DFA 总部”系指 DFA 位于 Akara Bldg.,24 De Castro Street, Wickhams Cay I Road Town Tortola, British Virgin Islands 的经营管理机构；“客户”系指与 DFA 签定协议的个人或团体；“协议”系指客户为开立及维持在 DFA 的帐户而签署的所有协议和授权文件。在本协议中插入本款的目的仅仅是为了方便和参考，对本协议其它条款不构成任何的限定和影响。 客户同意并接受 DFA 对客户与 DFA 工作人员之间的电话通话进行录音。客户也同意将电话录音作为解决双方争议时的有效证据。客户对 DFA 基于其自己制订的商业程序定期销毁上述录音表示理解，并赞同 DFA 定期销毁电话录音的做法。 24. 通话记录 客户同意并接受 DFA 对客户与 DFA 工作人员之间的电话通话进行录音。客户也同意将电话录音作为解决双方争议时的有效证据。客户对 DFA 基于其自己制订的商业程序定期销毁上述录音表示理解，并赞同 DFA 定期销毁电话录音的做法。 25. 利息/隔夜费 所有未平仓头寸都会按每日收取利息，详情请看“参考利息”或“参考价格”窗口 Trader Account Letter This is a legal contract between DIRECTFOREX ASIA INC. ("DFA"), a company registered in British Virgin Islands, its successors and assigns, and the party (or parties) executing this document. In connection with opening an account to speculate and/or purchase and/or sell Contracts For Difference (hereinafter referred to as “CFDs”), futures, indices, foreign exchange, and/or shares through the OTC market (hereinafter referred to as “OTC”) with DFA, Customer (hereinafter referred to as “Trader”) acknowledges that Trader has been advised and understands the following factors concerning trading in leveraged OTC, in addition to those contained in the following Risk Disclosure Statement. 1. OTC is not traded on a regulated exchange. There are no guarantees to the credit worthiness of the counter party of your CFD 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 CFD to cease, thereby preventing the liquidation of an adverse position which may result in a substantial financial loss. 2. Trading in OTC is suitable only for those sophisticated institutions or sophisticated participants financially able to withstand losses which may substantially exceed the value of margins or deposits. OTC accounts are not available through DFA to non-sophisticated participants. 3. The market recommendations of DFA are based solely on the judgment of DFA’s personnel. These market recommendations may or may not be consistent with the market position or intentions of DFA, its affiliates, and employees. The market recommendations of DFA are based upon information believed to be reliable, but DFA cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will eliminate the risk inherent in trading CFD. Any market recommendations of, or information provided by, DFA do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any OTC transaction. 4. Trader understands that DFA does not permit its Account Executives to either exercise discretion or manage an OTC account, or hold a power of attorney over an OTC account, unless approved by an executive officer of DFA and only after proper documentation has been submitted and approved by DFA. If Trader’s account is not being traded with Trader’s authorization, Trader must notify a DFA Compliance Officer immediately. 5. DFA’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 Trader’s account and that Trader 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. DFA also reserves the right to refuse to accept any order. 6. Trader understands that Trader must carefully review the reports relating to Trader’s trading provided to Trader by DFA. Pursuant to the Trader Agreement, all reports of execution will be deemed final within twenty-four (24) hours and all statements of account will be deemed final within one (1) day , unless the Trader makes a written objection to these reports within this 24 hour period of time to an executive officer of DFA , at its principal place of business. 7. Trader understands that trading on an electronic trading system may differ not only from trading in an open-outcry market but also from trading on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. 8. The Trader has read and understands the Trader’s obligations and rights under the following Trader Agreement and agrees and acknowledges that the following Trader Agreement will control the Trader’s relationship with DFA. The Trader agrees that Trader is fully responsible for making all final decisions as to transactions effected for Trader’s account. Trader has considered the foregoing factors and in view of Trader’s present and anticipated financial resources, Trader is willing and able to assume the substantial financial risks of OTC trading. Trader Agreement In consideration of DFA agreeing to carry one or more accounts of the undersigned (“Trader”) and providing services to Trader in connection with the purchase and sale of Contracts For Difference (hereinafter referred to as “CFDs”), futures, indices, foreign exchange, and/or shares through the OTC market (hereinafter referred to as “OTC”),, which may be purchased or sold by or through DFA for Trader’s accounts(s), Trader agrees as follows: 1. AUTHORIZATION TO TRADE: DFA is authorized to purchase and sell OTC for Trader’s account(s) with a counter party bank or sophisticated institutions or participants in accordance with Trader’s oral or written or computer instructions. Unless instructed by Trader to the contrary in writing, DFA is authorized to execute all orders with such banking institutions, counter party, bank, or sophisticated institutional participants as DFA deems appropriate. 2. GOVERNMENTAL, COUNTER PARTY INSTITUTION AND INTERBANKING SYSTEM RULES: All transactions under this Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rulings and interpretations of the counter party institution or other interbank market (and its clearing organization, if any) where executed and to all applicable Federal and State laws and regulations. Trader acknowledges that all transactions under this Agreement are subject to the aforementioned regulatory requirements and Trader shall not thereby be given any independent legal or contractual rights with respect to such requirements. 3. MARGINS AND DEPOSIT REQUIREMENTS: Trader shall provide to and maintain with DFA margin in such amounts and in such forms as DFA, in its sole discretion, may require. Such margin requirements may be greater or less than margins required by a counter party bank. DFA may change margin requirements at any time. Trader agrees to deposit by immediate wire transfer such additional margin when and as required by DFA and will promptly meet all margin calls as per article 3.1 of this agreement in such mode of transmission as DFA in its sole discretion designates. DFA may at any time proceed to liquidate Trader’s account in accordance with paragraph 6 below and any failure by DFA to enforce its rights hereunder shall not be deemed a waiver by DFA to enforce its rights thereafter. No previous margin requirement by DFA shall preclude DFA from increasing that requirement without prior notice. DFA retains the right to limit the amount and/or total number of open positions which Trader may acquire or maintain at DFA. DFA will attempt to execute all orders that it may, in its sole discretion, choose to accept in accordance with the oral or written or computer instructions of Trader’s. DFA reserves the right to refuse to accept any order. However, DFA shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control of DFA including, without limitation, 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. 3.1. MARGIN CALL LEVELS: Your account details under the “Account Information” in the trading platform contains a column denoted by “MC” which refers to Margin Call. The following when in appearance at the column shall correspond to respective meanings. N - No Margin Call 1 - 1st Margin Call.（Nil） 2 - 2nd Margin Call. (Your equity have fallen to 50% of the Margin Requirement) Your positions will be automatically “hedged”, meaning that a lot of opposing trade for every trade shall be done for the account. You have to top up adequate margin to trade further. 3 - 3rd Margin Call. (Your equity have fallen to 0%). All your positions will be closed by the system. 4. SETTLEMENT DATE AND ROLLOVERS: In the absence of contrary instructions from Trader, DFA is authorized, at DFA’s absolute discretion, to rollover or offset all or any portion of the spot-gold positions in the OTC account(s) for Trader’s Account(s) and at Trader’s risk in advance of settlement dates. 5. COLLATERAL AND LENDING AGREEMENT: All funds, securities, currencies, and other property of Trader which DFA or its affiliates may at any time be carrying for Trader (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by DFA as security and subject to a general lien and right of set-off for liabilities of Trader to DFA whether or not DFA has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Trader may have with DFA. DFA may in its discretion, at any time and from time to time, without notice to Trader, apply and/or transfer any or all funds or other property of Trader between any of Trader’s accounts. Trader hereby also grants to DFA the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other Traders, to itself as broker or to others, any securities or other property of Trader held by DFA as margin or security. DFA shall at no time be required to deliver to Trader the identical property delivered to or purchased by DFA for any account of Trader. The rights of DFA are subject to the applicable requirements for the segregation of Trader funds and property under the Commodity Exchange Act, as amended (the “Act”). The purpose of the Lending Agreement is to allow DFA to use depository receipts (representing delivery) as collateral. Should Trader take delivery of Currencies through settlement of trades, DFA is obliged to make full payment for the delivery on 24 hours notice. If the balance in the Trader’s account is not adequate to pay for the delivery, the depository receipts become property carried on margin in the Trader’s account, since they are not fully paid for by Trader. This authorization shall apply to all accounts carried by DFA for Trader and shall remain in full force until all accounts are fully paid for by Trader or notice of revocation is sent by DFA from its home office. 6. LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES: In the event of (a) the death or judicial declaration of incompetence of Trader; (b) the 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 Trader; (c) the filing of an attachment against any of Trader’s accounts carried by DFA, (d) insufficient margin, or DFA’s determination that any collateral deposited to protect one or more accounts of Trader is inadequate, regardless of current market quotations, to secure the account; (e) Trader’s failure to provide DFA any information requested pursuant to this agreement; or (f) any other circumstances or developments that DFA deems appropriate for its protection, and in DFA’s sole discretion, it may take one or more, or any portion of, the following actions: (1) satisfy any obligation Trader may have to DFA, either directly or by way of guaranty of surety ship, out of any of Trader’s funds or property in its custody or control; (2) sell any or purchase any or all Currency contracts, securities held or carried for Trader; and (3) cancel any or all outstanding orders or contracts, or any other commitments made on behalf of Trader. 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 Trader, Trader’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Trader’s or held jointly with others. In liquidation of Trader’s long or short positions, DFA may, in its sole discretion, offset in the same settlement or it may initiate new long or short positions in order to establish a spread or straddle which in DFA’s sole judgment may be advisable to protect or reduce existing positions in Trader’s account. Any sales or purchases hereunder may be made according to DFA’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, and DFA may purchase the whole or any part thereof free from any right of redemption. Trader shall at all times be liable for the payment of any deficit balance of Trader upon demand by DFA and in all cases, Trader shall be liable for any deficiency remaining in Trader’s account(s) in the event of the liquidation thereof in whole or in part by DFA or by Trader. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Trader due to DFA, trader shall promptly pay upon demand, the deficit and all unpaid liabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at DFA’s principal bank or the maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event DFA incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Trader, Trader agrees to pay such expenses. 7. SETTLEMENT DATE OFFSET INSTRUCTIONS: Offset instructions on CFD positions open prior to settlement arriving at settlement date must be given to DFA at least one (1) business day prior to the settlement or value day. Alternatively, sufficient funds to take delivery or the necessary delivery documents must be in the possession of DFA within the same period described above. If neither instructions, funds nor documents are received, DFA may without notice, either offset Trader’s position or roll Trader’s positions into the next settlement time period or make or receive delivery on behalf of Trader upon such terms and by such methods deemed reasonable by DFA in its sole discretion. 8. STATEMENT AND CONFIRMATION: Reports of the confirmation of orders and statements of accounts for Trader shall be deemed correct and shall be conclusive and binding upon Trader if not objected to immediately upon receipt and confirmed in writing within (1) day after transmittal to Trader by mail or otherwise. Margin calls shall be conclusive and binding unless objected to immediately in writing. Written objections on Trader’s part shall be directed to DIRECTFOREX ASIA INC. at its home office located at: Akara Bldg.,24 De Castro Street, Wickhams Cay I Road Town Tortola, British Virgin Islands and shall be deemed received only if actually delivered or mailed by registered mail, return receipt requested. Failure to object shall be deemed ratification of all actions taken by DFA or DFA’s agents prior to Trader’s receipt of said reports. Trader’s failure to receive a trade confirmation shall not relieve Trader of the obligation to object as set out herein. 9. COMMUNICATIONS: Reports, statements, notices and any other communications may be transmitted online or to such other address as Trader may from time to time designate in writing to DFA. All communications so sent, whether by mail, telegraph messenger or otherwise, shall be deemed transmitted by DFA when deposited in via mail, or when received by a transmitting agent, and deemed delivered to Trader personally, whether actually received by Trader or not. 10. DFA RESPONSIBILITIES: DFA will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or for any other cause beyond DFA’s control or anticipation. DFA shall only be liable for its actions directly attributable to negligence, willful default or fraud on the part of DFA. DFA shall not be liable for losses arising from the default of any agent or any other party used by DFA under this agreement. As OTC is not an exchange traded market, prices at which DFA deals at or quotes may or may not be similar to prices at which other OTC market makers deal at or quote. 11. CFD FLUCTUATION RISK: If Trader directs DFA to enter into any CFD transaction: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for Trader’s account and risk; (b) all initial and subsequent deposits for margin purposes shall be made in U.S. dollars, in such amounts as DFA may in its sole discretion require; and (c) DFA is authorized to convert funds in Trader’s account for margin into and from such foreign currency at a rate of exchange determined by DFA in its sole discretion on the basis of the then prevailing money market rates. 12. RISK ACKNOWLEDGMENT: Trader acknowledges that investment in leveraged and non-leveraged transactions are speculative, involves a high degree of risk, and is appropriate only for persons who can assume risk of loss in excess of their margin deposit. Trader understands that because of the low margin normally required in OTC trading, price changes in OTC may result in significant losses that may substantially exceed Trader’s investment and margin deposit. Trader warrants that Trader is willing and able, financially and otherwise, to assume the risk of OTC trading, and in consideration of DFA’s carrying his/her account(s), Trader agrees not to hold DFA responsible for losses incurred through following its trading recommendations or suggestions or those of its employees, agents or representatives. Trader recognizes that guarantees of profit or freedom from loss are impossible of performance in OTC trading. Trader acknowledges that Trader has received no such guarantees from DFA or from any of its representatives or any introducing agent or other entity with whom Trader is conducting his/her DFA account and has not entered into this agreement in consideration of or in reliance upon any such guarantees or similar representations. 13. TRADING RECOMMENDATIONS: a) Trader acknowledges that (i) any market recommendations and information communicated to Trader by DFA or by any person within the company, does not constitute an offer to sell or the solicitation of an offer to buy any OTC contract, (ii) such recommendation and information, although based upon information obtained form sources believed by DFA to be reliable, may be based solely on a broker’s opinion and that such information may be incomplete and may be unverified, and (iii) DFA makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or trading recommendation furnished to Trader. Trader acknowledges that DFA and/or its officers, directors, affiliates, associates, stockholders or representatives may have a position in or may intend to buy or sell CFD, which are the subject of market recommendations furnished to Trader, and that the market position of DFA or any such officer, director, affiliate, associate, stockholder or representative may not be consistent with the recommendations furnished to Trader by DFA. Trader acknowledges that DFA makes no representations concerning the tax implications or treatment of contracts; and, (b) Trader further acknowledges that should Trader grant trading authority or control over Trader’s account to a third party (“Trading Agent”), whether on a discretionary or non-discretionary basis, DFA shall in no way be responsible for reviewing Trader’s choice of such Trading Agent nor making any recommendations with respect thereto. Trader understands that DFA makes no warranties nor representations concerning the Trading Agent, that DFA shall not be responsible for any loss to Trader occasioned by the actions of the Trading Agent and that DFA does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent. If Trader gives Trading Agent authority to exercise any of its rights over Trader’s account(s), Trader understands that Trader does so at Trader’s own risk. 14. TRADER REPRESENTATIONS AND WARRANTIES: Trader represents and warrants that: (a) Trader is of sound mind, legal age and legal competence; and, (b) No person other than Trader has or will have an interest in Trader’s account(s); and, (c) Trader hereby warrants that regardless of any subsequent determination to the contrary, Trader is suitable to trade OTC and is a sophisticated institution and/or institutional participant; and, (d) Trader is not now an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange and/or firm registered on any exchange, or any bank, trust, or insurance company, and in the event that Trader becomes so employed, Trader will promptly notify DFA at its home office in writing of such employment; and, (e) All the information provided in the information portion of this booklet is true, correct and complete as of the date hereof and Trader will notify DFA promptly of any changes in such information. 我已阅读并同意              Printable Version ( 打印 )