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Opening a Corporate CFD Forex trading account

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Opening a Corporate CFD Forex trading account Powered By Docstoc
					                                                                            Send your account forms to:
               Active investing made easy                                   WH SelfInvest
                                                                            Maaltecenter Blok G
                                                                            Derbystraat 349
                                                                            B 9051 Gent (SDW)




                  Opening a Corporate CFD / Forex trading account

Forms 1 to 4 are necessary when opening a corporate account. Where you see           you need to
provide the requested information or a signature.

   Account application
       All information disclosed is confidential. All questions need to be answered. We cannot process
       your account application if there is any information, missing.
   General terms & conditions
       Read the general terms and conditions carefully and sign at the bottom of each page.
   Risk disclosure statement
       By signing the risk disclosure statement you confirm that you understand and accept all the
       categories of risk related to these products and to active investing.
   Corporate resolution
       This form must be signed by the President of the corporation and countersigned by the Board
       Secretary.

   Photocopy of President’s identity card or passport
       If you wish to open your account by correspondence you need to provide a certified photocopy
       (city hall, police or notary) of your passport or identity card. An extract from the municipal
       population register is also acceptable.
       If you open your account in our office or in the presence of one of our employees or if you have
       met in the past on of our employees, your photocopy needn’t be certified.
   Company Charter and other relevant documentation
       The documentation provided must allow us to establish the following: who has been appointed as
       the corporation’s President and when; who are all the corporation’s shareholders (economic
       beneficiaries).


What’s next? Your account application is processed upon receipt. You will receive an e-mail confirming
that your account application has been processed.
In addition you receive a letter containing your new account number as well as the instructions you need
to fund your account. You have four weeks to fund the new account.
Immediately after your new account is funded you receive the userID and password to open your trading
platform. Real-time quotes will have been activated and you are ready to start trading.

Questions? +32 (0)9 383 86 38 or info@whselfinvest.be
                                        ACCOUNT APPLICATION / AANVRAAG TOT REKENING-OPENING
        WH                            KONTOERÖFFNUNGSANTRAG / DEMANDE D'OUVERTURE DE COMPTE
SELFINVEST                     For Company use only   Account N°                                   Approved by                                  Date

CFD & Forex
                                                      CORPORATION                                                PRESIDENT of the CORPORATION


Surname
Naam
Name
Nom
First name, initials
Voornaam, initialen
Vorname, Inizialen
Prénom, initiales
Date of birth          D/M/Y
Geboortedatum          D/M/J
Geburtsdatum           T/M/J
Date de naissance      J/M/Y

Nationality
Nationaliteit
Staatsbürgerschaft
Nationalité
Marital status                                                                                            Single           Married               Divorced / Widow(er)
Burgerlijke stand                                                                                        Ongehuwd          Gehuwd                Gescheiden / Wed.
Zivilstand                                                                                               Ledig             Verheiratet           Geschieden / Verwitwet
Etat civil                                                                                               Célibataire       Marié(e)              Divorcé(e) / Veuf(ve)
Profession
Beroep
Tätigkeit
Profession
Permanent address
Adres
Privatadresse
Adresse permanente
Country
Land - Pays

Tel day, dag, Tag, jour

Tel evening, avond, Abend

Fax

Email

I would like my account in                              EUR                         I want to trade                      CFD
Ik wil mijn rekening                                    USD                         Ik wil handelen in                   Forex                   [     mini contracts]
Ich möchte mein Konto in                                CHF                         Ich möchte handeln
                                                                                                                         CFD & Forex
Je veux un compte en                                    GBP                         Je veux trader

Gross annual income                < €40,000          Number of trades per month             < 50           Average trade size                                 < 1 contract
Jaarlijks brutto-inkomen           €40 - €80,000      Aantal transacties per maand           50 - 100       Gemiddelde transactie grootte                      2 – 3 contracts
Brutto Jahreseinkommen             €80 - €120,000     Transaktionen pro Monat                100 - 200      Durchschnittliche Transaktionsgrösse               4 – 5 contracts
Revenu brut annuel                 > €120,000         Nombres d'opérations par mois          > 200          Taille moyenne des opérations                      > 5 contracts
Net worth (excluding family residence)                   < €40,000                 Source of funds                        Salary, salaris, Gehalt, salaire
Patrimonium (excl. gezinswoning)                         €40 - €120,000            Bron van uw vermogen                   Inheritance, erfenis, Erbschaft, héritage
Vermögen (ohne Familienwohnsitz)                         €120 - €240,000           Quelle des Vermögens                   Other, andere, sonst, autre :
Patrimoine (sans la résidence familiale)                 > €240,000                Source des fonds                        ________________________
I intend to use my account for day trading activities                      Yes        No       Number of years investing in securities                 Forex     _____
Ik gebruik deze rekening voor day trade activiteiten                       Ja         Nee      Aantal jaren ervaring als belegger
Ich beabsichtige, mein Konto für Daytrading Aktivtäten zu nutzen           Ja         Nein     Jahren Trading Erfahrung                                Stocks _____
Je compte utiliser mon compte pour du day trading                          Oui        Non      Nombre d'années passées à investir

I acknowledge that I have read, understood, and agreed to the terms              Ich bestätige, dass ich die Geschäftsbedingungen erhalten habe und die darin
set forth in this Account Application and the General Terms and                  aufgeführten Regelungen und Bedingungen gelesen und verstanden habe und als
Conditions. In particular I agree to articles 1.2, 1.3, 1.12, 1.13, 1.14.        verbindlich anerkenne. Insbesonderes akzeptiere ich Art. 1.2, 1.3, 1.12, 1.13, 1.14.
Ondergetekende verklaart deze Aanvraag tot Rekening-Opening en de                Je reconnais avoir lu, compris et accepté les conditions présentes sur la Demande
Algemene Voorwaarden gelezen, begrepen en aanvaard te hebben. In het             d'Ouverture de Compte et les Conditions Générales. J'accepte en particulier les articles
bijzonder aanvaard ik artikels 1.2, 1.3, 1.12, 1.13, 1.14.                       1.2, 1.3, 1.12, 1.13, 1.14.
Where did you see our                                                                              President
 ADVERTISEMENT?



                                                                                                          __________________________________                ___ / ___ / ___
____________________
                                                                                                               Signature, Handtekening, Unterschrift             Date
    CFD+FOREX/BE/10.04.2007
a/c:
               3 pages


                                                      GENERAL TERMS AND CONDITIONS - AGREEMENT
1      GENERAL INFORMATION                                             services, or (2) a lack of knowledge on the client’s part as          subsidiaries or affiliates or to any other entity upon prior written
1.1      General information                                           detailed in the above items (a) to (i).                               notice to you.
This agreement, in accordance with Article 1.10 subject to             You declare being aware of the fact that should the electronic        1.8      Joint Account Holders
modification, contains important information about your                trading services not be available, you can always place orders        If there is more than one account holder, each account holder
account opened with WH SelfInvest NV (”WH”), Maaltecenter              via the WH support desk at your own risk.                             is jointly and severally liable for all obligations arising out of
Blok G, Derbystraat 349, B 9051 Gent Sint-Denijs-Westrem,              1.3    Etiquette                                                      this agreement. Each joint account holder, acting alone and
Belgium. This agreement contains all terms and conditions the          The WH support desk will handle all client requests with the          without notice to any other account holder, has the authority to
client (“you”) agree to by signing these General Terms and             necessary urgency and the appropriate level of attention. Our         deal with WH fully and without limitations. WH will execute the
Conditions and Account Application forms. WH is licensed as            support desk staff is knowledgeable, polite and always                instructions of any joint account holder and will not be
a Broker (lic.no.42798) and Commissionaire (lic.no. 36399) of          professional in their client interactions.                            responsible for determining the purpose or propriety of any
securities. For those accounts which only trade spot forex WH                                                                                instruction received from any joint account holder. The sole
has designated Dexia Bank NV, Pachecolaan 44, B 1000                   WH expects clients to maintain the same level of politeness           exception being outgoing money or securities transfers. In this
Brussels, Bank One-JP Morgan Chase & Co, 1 Bank One                    and professionalism in all their interactions with WH. All forms      case WH will require all account holders to sign the transfer
Plaza, Chicago, IL 60670, as depositary banks for the                  of communication (telephone, fax, e-mail, etc) which do not           instruction.
individual client accounts. For those accounts which trade             meet the above standard will NOT be treated by our staff. This
                                                                       includes, but is not limited to, communications containing racist     WH reserves the right, in all other cases, to require written
CFDs with or without spot forex WH has designated Dexia                                                                                      instructions from the other joint account holders.
Bank NV, Pachecolaan 44, B 1000 Brussels, and Barclays                 remarks, sexist remarks, insulting remarks, obscene language,
Bank, 1 Churchill Place, London E14 5HP as depositary banks            impolite language, inappropriate sarcasm and all other forms of       Any notice sent to one account holder shall be deemed to be
for the individual client accounts.                                    double entendre, as well as content which is clearly not in good      sent to all account holders.
                                                                       faith.                                                                In case of seizure by a claiming third party, WH will assume,
WH is a member of AGDL (Association pour la Garantie des
Dépôts du Luxembourg). WH and Dexia Bank are members of                1.4    Discrepancies                                                  unless previously specified on the relevant form; that each
the Beschermingsfonds voor deposito’s en financiële                    You agree to notify WH immediately should you notice, either          account holder owns an equal share of the account’s total
instrumenten (FIF).                                                    on your account, your trading platform or your account                equity.
                                                                       statements, any item which seems out of the ordinary. Such            1.9      Entire Agreement and Severability
Upon approval of your account application WH will act as your
                                                                       items include but are not limited to erroneous positions and          This agreement contains the general terms and conditions
broker for the purpose of transacting buy and/or sell financial
                                                                       erroneous, duplicated or missing orders.                              governing the relationship between you and WH. If any
securities as instructed by you.
                                                                       You are obliged to personally verify all reporting and                provision of this agreement is held to be invalid, void or
WH does not provide investment advice, tax or legal advice
                                                                       statements related to orders within 24 hours after having             unenforceable by reason of any law, rule, administrative order,
regarding the suitability or profitability of a specific security or
                                                                       placed the order.                                                     or judicial decision, that determination shall not affect the
investment. If you require advice regarding your investments
                                                                       You are obliged to notify WH of any other irregularities within       validity of the remaining provisions of this agreement.
you should contact a qualified professional. All information
provided by WH is provided with the best intentions, in good           24 hours after having received your account statement. An             1.10 Modifications
faith and on a best efforts basis. The information provided is         account statement is considered received as soon as it is             The articles of this agreement as well as the rates structure
solely for your personal use and cannot be shared with third           available on the trading platform.                                    can be modified by WH. Any changes will be notified to the
parties. You should always verify the information as to its            If you do not notify WH within the specified deadline all             client via the WH website or another communication channel.
accuracy. WH, its officers, employees, agents or affiliates            reporting and statements are deemed as unconditionally                The latest versions of the agreement and the rates structure
cannot be held responsible for any investment decisions you            accepted and agreed to by you. If you notify WH within the            are permanently at your disposal on the WH website and upon
have made based on the information provided. WH has no                 specified deadline and if WH is responsible for the discrepancy       request. Unless specified otherwise all changes will be
responsibility to warn you in case your account is losing              your account will be credited for the total amount of the             deemed effective immediately after publication. All changes will
excessive amounts of money.                                            discrepancy.                                                          be binding to the client unless the client objects in writing within
1.2    Client Diligence                                                                                                                      ten days after publication. If the client uses any services, and
                                                                       Any discrepancies will be corrected by WH. You are not to             in particular enters any orders, before or after or without
Before placing an order on any WH trading platform or via              place any order or intervene in any other way before having           objecting in writing it will be considered an irrevocable
telephone you confirm                                                  contacted the WH support desk and before having agreed a              acceptance by the client of all the changes.
(a) you have a good working knowledge of all rules, regulations        plan of action with a member of the support desk. If you
                                                                       intervene before or without agreeing upon a plan of action you        All costs for services provided will be debited from the client’s
and customs related to the financial markets;
                                                                       are solely responsible for all (in)direct losses and/or damages.      account. Costs can be passed on to the client should the client
(b) you have a skill level in active trading techniques which is                                                                             have a special request or should WHS incur extraordinary
above those of a beginner;                                             In all cases where WH is considered liable our liability is limited   costs servicing an account. You agrees to always familiarize
                                                                       to any direct damages which result from a direct error made by        yourself with the relevant rate structure before using any
(c) you will have thoroughly read all manuals and guides               WH. Under no circumstances can WH be held liable for indirect
supplied by WH and you will thoroughly read all new versions                                                                                 service. The rate applied to each service used will be the rate
                                                                       damages, loss of revenue or reputational damage. WH will              in vigor the day the service was used.
immediately when they become;                                          never compensate clients for not having been able to realize a
(d) you will have familiarized yourself thoroughly with all            gain or to avoid a loss.                                              1.11 Agreement Subject to Approval
features and functionalities of the WH trading platform of your                                                                              This agreement will be effective only upon our approval. We
                                                                       You authorise WH to correct, without prior notification or
choice;                                                                                                                                      reserve the right to reject an account application without having
                                                                       agreement , any discrepancies in your account, including, but
                                                                                                                                             to provide a reason.
(e) you understand and know how to use at a minimum the                but not limited to, double bookings.
most commonly used order types –market, limit and stop                                                                                       1.12 Termination
                                                                       1.5     Client Responsibility Regarding certain Securities
orders–;                                                                                                                                     Both parties reserve the right to terminate the agreement in
                                                                       Certain securities may grant the holder rights that may expire
(f) you are familiar with and understand all contract details                                                                                writing at any time for any reason. Termination of the
                                                                       unless the holder takes action often within certain deadlines.
such as contract size, required margin, tick size, tick value,                                                                               agreement does not absolve either party from unsettled orders
                                                                       These securities include but are not limited to options, futures
etc.;                                                                                                                                        or other open items. Upon termination, the client remains liable
                                                                       and derivatives whose underlying asset is subject to a tender
                                                                                                                                             for any debit balances or deficiencies in his account. The
(g) you can read and interpret correctly all information provided      or swap offer. You acknowledge that you are responsible for
                                                                                                                                             client will reimburse WH for the cost of collection of any debit
on your account statement;                                             knowing the rights and terms of all securities held in your
                                                                                                                                             balance or deficiency in connection with any of your accounts,
                                                                       account. We are not obligated to notify you of any upcoming
(h) you have at your disposal hardware, software and                                                                                         including reasonable lawyer's fees and court costs.
                                                                       expiration, exercise or redemption dates, or to take any action
connectivity which meets or exceeds the minimum                        on your behalf without having received a specific instruction         WH will determine the method by which remaining credit
requirements as specified by WH;                                       from you except as required by law. If you hold securities in         balances will returned to the client at the client’s risk if WH has
(i) you have a good working knowledge of investing on margin.          your account that are callable in part by means of a lottery          not received within a reasonably time after termination of the
                                                                       system, you agree to participate in an impartial lottery              agreement clear instructions regarding the return of any credit
You understand and accept that all manuals and guides might
                                                                       allocation of the called securities, according to the rules and       balance.
not be available in your mother tongue. Should this be an issue
you confirm you will first seek clarity on all items which are not     customs of the applicable exchange or market.                         1.13 Governing Laws
clear to you by contacting the WH support desk before placing          1.6    Client’s Estate                                                This agreement will be governed by the laws of the Kingdom of
any order.                                                             You agree that this agreement and all the terms and conditions        Belgium. You irrevocably submit to the exclusive jurisdiction of
WH is under no obligation to provide training or assistance in         contained within will be binding to your heirs, executors,            the Belgian courts of law. Only the courts of law of Gent
relation to your use of WH’s electronic services. Should WH            administrators or personal representatives.                           (justice of peace in the legal zone of WH) are competent. WH
agree, at its own discretion, to provide training or assistance,                                                                             retains the right to take legal action in any country against any
                                                                       1.7    Assignment
such training or assistance will be provided to you at your own                                                                              client should WH deem it necessary for its protection.
                                                                       You acknowledge that this agreement shall inure to the benefit
risk. WH is not liable for any (in)direct losses resulting from (1)    of WH and its successors and assigns. WH may assign their             Clients which are not domiciled in a EU country elect by
incorrect usage of the trading platform or other electronic            rights and duties under this agreement to any of their                signing this agreement WH’s registered office address (
                                                                                                                                             Gerechtelijk WB art. 39) as their official address of residence.



                   Holder / Rekeninghouder / Kontoinhaber / Titulaire                                       Joint Holder / Gemeenschapelijke Rekeninghouder / Mitinhaber / Cotitulaire


        __________________________________                                ___ / ___ / ___                         __________________________________                                ___ / ___ / ___
            Signature, Handtekening, Unterschrift                              Date                                   Signature, Handtekening, Unterschrift                              Date
    CFD+FOREX/BE/10.04.2007
a/c:
               3 pages


                                                      GENERAL TERMS AND CONDITIONS - AGREEMENT
All legal notifications and correspondence can be legally              client. Notification can be done via several channels, including       to liquidate one or more positions at market price can never
notified and deposited at this address. The client will be             but not limited to, an update of the WH web site.                      lead to any liability for WH in relation to ensuing losses, lost
informed by registered letter of any such notification or              2.5     Receipt of Communications                                      opportunities, or any other type of negative consequence.
correspondence.                                                                                                                               Some investors believe that their broker must contact them
                                                                       All communications will be send to the (electronic) address
1.14 Taxes                                                             provided on the account application. All communications sent           before a margin call becomes valid and positions can be
The client recognizes that it is his responsibility to conform to      to the client be it by letter, telegram, courier, electronically, by   liquidated in the account. This is not the case. Most brokers will
all legislation in force in the location of his fiscal domicile. Any   telefax or via any other channel shall be considered delivered         try to inform their clients but brokers are not obliged to do so.
tax liabilities or obligations resulting from the use of WH’s          to the client personally, irrespective of the fact if the              Even when your broker has contacted you with a specific date
products or services are borne solely by the client. If at least       communication was actually received or not.                            by which the margin call should be covered, the broker can
one of the account holders of a joint account has his fiscal                                                                                  still, dictated by market circumstances and at his own
                                                                       Telephone conversations between the client and WH may be
domicile in Belgium then Belgian fiscal law will apply to the                                                                                 discretion, liquidate positions without prior notification.
                                                                       recorded. You agree to these recordings and understand that
account.                                                               these recordings may be used as evidence. These recordings             The client cannot choose which positions will be liquidated
1.15 Translation of General Terms and Conditions                       are the sole property of WH and will be erased after a                 from the margin account. This choice is the broker’s or the
This agreement called ‘General Terms and Conditions’ is a              reasonable amount of time has elapsed.                                 depository bank’s.
translation of the original agreement ‘Algemene Voorwaarden            2.6    Reporting                                                       The reserved right to liquidate, unilaterally and possibly without
– Overeenkomst’ written in Dutch. In case of different                 Unless agreed otherwise, WH will not send any paper account            prior notification, open positions in order to put an account
interpretations between the translation and the original               statements or order confirmations by post.                             back within the margin guidelines cannot be construed as an
agreement, the original agreement in Dutch will be the only                                                                                   obligation by WH to do so.
relevant legal document. The Dutch language version is at all          All reporting, including account history, account status, order
                                                                       confirmations and user logs, is available in real-time via the         Financial instruments which function on the basis of leverage
times available on our web site.
                                                                       trading platform.                                                      can potentially lead to a negative balance. The client is legally
                                                                                                                                              bound to cover any negative balance on his account. Negative
                                                                       2.7      Subscriptions                                                 balances must be covered without exception within five
2      ACCOUNT, SERVICES, COMMISSIONS
                                                                       Subscriptions, if applicable, will be debited directly from the        working days.
2.1     Accuracy of Information                                        client’s account. Subscriptions are due on a monthly basis at
You guarantee that all information entered on your account             the beginning of the month. A pro rata debit for part of the           3.3     Lien and liquidation
application forms is accurate and that no one except you has           month is not possible.                                                 Any and all liquidities, financial instruments and other forms of
any interest in the account.                                                                                                                  property held in any of your WH accounts, including accounts
                                                                       Clients can cancel or suspend their subscriptions at all times.        in which you have an interest, shall be subject to a general lien
You declare that the funds to be transferred in the account            Cancelling or suspending a subscription must be done in                for discharge of all your indebtedness and other obligations to
have been earned legally and that the account will not be used         writing (letter, fax, or e-mail). The written instruction must reach   WH, however arising and without regard to whether or not you
for money laundering purposes.                                         WH before the 25th day of the calendar month.                          have made advances with respect to such property. The
You agree to notify WH in writing within 30 days if there is any       3     ORDERS, MARGIN                                                   clearance of the pledged assets shall be governed by
change in the facts set forth in the account opening forms             3.1     Orders                                                         applicable laws. WH reserves the right to determine at WH’s
including but not limited to name, address, e-mail address and                                                                                sole discretion, which financial instruments and other property
                                                                       Before an account can be activated for orders WH requires the
telephone number. Any losses resulting from not                                                                                               are to be sold and/or purchased in enforcement of WH’s lien.
                                                                       account to be credited with the minimum deposit. For its
communicating any changes in personal information in a timely                                                                                 Circumstances that may require the liquidation of an account
                                                                       protection, WH may restrict the client’s ability to withdraw funds
fashion are solely born by the account holder. WH will only                                                                                   include but are not limited to the failure of a client to pay
                                                                       from the account.
request such information which is required to satisfy its internal                                                                            commissions due, the failure to deliver securities in good form,
and legal obligations with respect to providing its services to its    For protection against credit risks, WH might refuse,
                                                                                                                                              the filing of a petition of bankruptcy by or against a customer
clients.                                                               unilaterally and possibly without prior notification, to execute,
                                                                                                                                              or, a client's death. The client is liable for all costs,
                                                                       wholly or partially, orders or instructions. Where any refusal is
You, at your own initiative, must provide WH with a new copy                                                                                  commissions and, losses arising from any actions WH takes to
                                                                       made we shall normally explain our reasons to you.
of your identity card or password when the identity card or                                                                                   liquidate positions and/or cancel open orders.
passport which we have on file expires.                                WH might refuse unilaterally and possibly without prior
                                                                                                                                              4     ELECTRONIC SERVICES
                                                                       notification, to accept or to execute any orders which seem
2.2     Confirmation of Clients signature                                                                                                     4.1     Provision of Electronic Services
                                                                       disruptive to the capital markets, unusual in size, type or credit
The client’s signature on the first page of this account               risk, or which exceed authorized limits.                               For the purposes of this agreement WH's electronic services
application will be used by WH as specimen. WH may rely                                                                                       are defined as any electronic or interactive product, trading
solely on this specimen. This is true for private accounts,            WH might place, unilaterally and possibly without prior
                                                                       notification restrictions on your account. Such restrictions can       platform or service offered by WH which allows WH clients to:
corporate accounts as well as all other legal entities,                                                                                       (1) communicate with WH or an authorized third party service
irrespective of any subsequent changes recorded by the                 include but are not limited to changes in margin, limits, order
                                                                       size, position size and number of accounts.                            provider; (2) obtain information or quotes from WH or an
companies register or other official publications to this effect.                                                                             authorized third party service provider; (3) enter into brokerage
The client must inform WH of all changes to the list of                You acknowledge that orders, and especially but not                    transactions with WH through the use of electronic data
signatories of the account and must supply the relevant                exclusively market orders, cannot always be cancelled                  communications, and (4) view information in relation to WH’s
documentation to this effect. WH shall not be liable for               because they are subject to immediate execution and the order          services and accounts.
fraudulent use of the client’s signature whether such signature        may be executed before the request for cancellation is
be authentic or forged. In case WH does not identify fraudulent        received and processed by WH.                                          WH reserves the right to expand its electronic services with
use of the signature of the client, and executes instructions                                                                                 new features, to cancel or replace existing features and, if
                                                                       All transactions will be subject to the applicable rules,              applicable, to replace one service with another one.
based on this signature, WH shall, except in the case of gross
                                                                       regulations, customs and usages of any exchange or market
negligence, be released from its obligation to refund client                                                                                  You acknowledge that the internet might not be a safe medium
                                                                       where executed, clearing house, self-regulatory organization,
assets or make good any losses resulting from executing the                                                                                   of communication for transmitting confidential information. You
                                                                       and to all applicable national and international laws, rules and
instructions.                                                                                                                                 also acknowledge that WH will not be liable for any delay in
                                                                       regulations.
2.3     Funding                                                                                                                               receiving or sending information via the electronic channels
                                                                       You accept to bear all risks from a possible misunderstanding          which you have elected to use. Such channels include but are
In order to support the fight against money laundering WH will         as a result of not having supplied legible and/or
only accept incoming monies via the Dexia Bank NV and only if                                                                                 not limited to your internet service provider.
                                                                       comprehensible written order instructions.
the accompanying instructions contain the beneficiary’s name                                                                                  Despite all the significant efforts and resources invested by
and/or WH account number. All transfers or deposits which do           3.2     Margin                                                         WH and its partners to guarantee the quality and continuity of
not contain said information or which contain incomplete or            In order to open a margin position the client must have the            its electronic services, it is possible that these services may
incorrect information will be systematically rejected. Transfers       required initial margin on his account. The initial margin varies      become unavailable for a moment. Substantial parts of the
in favor of unknown beneficiaries will also be rejected.               between financial instruments and can be found in the product          technological infrastructure supporting WH’s electronic
                                                                       tables on the WH web site. WH reserves the right to change,            services are outside WH’s control. Although WH strives to
You understand and agree (a) that WH is not responsible for
                                                                       unilaterally and possibly without prior notification, the margin       notify clients prior to any service becoming unavailable this
any delays in inter-bank transfers, (b) that it is your
                                                                       requirements.                                                          cannot be guaranteed. You understand and agree that all
responsibility to contact your bank for information regarding the
status of your transfer should you not receive notification from       To maintain an open position the account balance must at all           usage of the electronic services is at your own risk.
WH of the transfer’s timely arrival, and (c) that it is your           times be at least equal to the required margin. WH reserves            You acknowledge being an active investor and as such you are
obligation to carefully verify if your bank has included your          the right to liquidate positions, unilaterally and possibly without    able to remain cool and in control should an electronic service
name and/or account number in the transfer details.                    prior notification, at market prices in case (a) the account’s         suddenly become unavailable. Clients holding open positions
                                                                       equity no longer meets the margin requirements as specified            can contact the WH support desk via several channels. Clients
2.4    Commissions and Services Provided
                                                                       by law, WH or the depository bank, (b) the account risks to            not holding positions wait until the electronic service is
The WH web site details all products and services WH offers.           develop a negative balance, and (c) unforeseen technical               available again.
These products and services can be cancelled, replaced or              problems prevent WH from executing its organized program of
modified on occasion with or without prior notification to the                                                                                4.2    Passwords and Security
                                                                       risk management on the open positions. The decision by WH


                   Holder / Rekeninghouder / Kontoinhaber / Titulaire                                        Joint Holder / Gemeenschapelijke Rekeninghouder / Mitinhaber / Cotitulaire


        __________________________________                                 ___ / ___ / ___                         __________________________________                               ___ / ___ / ___
            Signature, Handtekening, Unterschrift                               Date                                   Signature, Handtekening, Unterschrift                             Date
    CFD+FOREX/BE/10.04.2007
a/c:
               3 pages


                                                    GENERAL TERMS AND CONDITIONS - AGREEMENT
You declare being the only authorized user of the electronic         internal), deletion or inaccuracy in the transmission or reporting   responsibility or liability to you or any other person whose claim
services related to your account. You are solely liable for the      of transactions or orders, interruption of communication lines,      may arise through you for any claims with the handling,
security and usage of your userID and password. You                  hardware failure, problems and interruptions at third parties        mishandling or loss of any order. WH will not have any liability
acknowledge being aware of the significant risks when you            such as executors or depository banks.                               for losses, direct or indirect in nature.
communicate your userID and/or password to any third party           4.5   Receipt of an Order                                            4.8      Copyright and Trademarks
and hence you will refrain from doing so.
                                                                     WH shall not be deemed to have received any instruction,             All information in the broadest sense of the word such as texts,
You are solely and fully responsible for all activity, including     communication or order from the client until such order              charts, downloadable files, forms, software, etc are subjected
orders, related to the usage of your userID and password by          appears on the client’s order platform bearing its unique order      to copyright and belong to WH or third parties. The client does
yourself or a (non)-authorized third party. The sole exception       number and before WH has actual knowledge of the instruction         not acquire any rights to the information. Information can only
being contained in article 4.7 of this agreement.                    or communication.                                                    be copied or distributed with prior written consent of WH or
Heavy emphasis has been placed on the ability to prevent             You acknowledge that WH retains the right to refuse or to            such third parties that may own the rights.
security breaches. Application Security for the sever farm           cancel, unilaterally and possibly without prior notification,        prior written authorization from WH or the third party owner of
supporting the WH trading platform is facilitated using Triple       orders for whatever reason. Orders which have been tagged            the rights.
DES (Data Encryption Standard) Encryption for all back office        with their unique order number are also subject to this retained     In the event that you download anything from WH’s web sites
and interface functionality. This level is currently the highest     right.                                                               or download links, the downloaded Content is licensed to you
level of encryption available to corporations. The server farm
                                                                     4.6     Suspension or cancellation                                   by WH pursuant to these terms of use. WH does not transfer
does not use IIS, FTP or, HTTP to prevent internet viruses
                                                                     You acknowledge that WH retains the right to suspend or              title of the Content to you. You own the medium on which the
from reaching the servers.
                                                                     cancel, unilaterally and possibly without prior notification, a      downloaded Content is recorded, but WH retains full and
4.3      Market information and Quotes                               client’s access to the electronic services. WH will inform the       complete title to the Content, and all intellectual property rights
Price quotes and other market information WH may provide             client as soon as possible in writing (e-mail, fax or letter) of a   therein. You may not redistribute, sell, de-compile, reverse
you with are obtained from independent pricing services WH           suspension or cancellation. Upon receipt of this notification the    engineer, disassemble, or otherwise reduce the Content to a
believes are reliable. Nevertheless WH cannot guarantee the          client will refrain from trying to use the electronic services.      human-perceivable form.
accuracy of these quotes and information. Hence WH is not            Usage of the electronic services can be resumed only after           The trademarks, logos and service marks displayed on WH’s
liable for any losses or missed opportunities resulting from your    having received authorization in writing from WH.                    web sites, platforms and materials are either owned by WH or
use of the quotes and market information provided.                                                                                        are the property of other third parties. You are not permitted to
                                                                     Clients using or trying to use the electronic services for any
For non-exchange quoted financial instruments it is possible         other purposes than the intended purposes will be subjected to       use these trademarks, logos and service marks without the
that WH, dictated by market conditions, increases the                legal action.                                                        prior written consent of WH or such third parties that may own
difference between the bid and ask price.                                                                                                 them.
                                                                     4.7    Notification of Unauthorised Use
You declare that all market information, quotes or other content     You agree that as a condition of being approved to use the           4.9    Information Supplied by You
provided by WH free or against payment is exclusively for your       electronic services you will immediately notify WH if: (1) you       Any communication or material you transmit to WH by
own use and cannot be distributed or published in whatever           have placed an order using WH electronic services and you do         electronic mail, forum or otherwise, including any data,
format to any third party.                                           not see your order on your trading platform; (2) you have done       questions, comments, suggestions or the like is, and will be
4.4     Extraordinary Events                                         a trade using WH’s electronic services and you do not see this       treated as, non-confidential and non-proprietary. Anything you
WH cannot be held liable for any losses, direct or indirect in       trade on the next business day’s account statement; (3) you          transmit or post becomes the property of WH or its affiliates
nature, due to events beyond WH’s control. Such events               can see on your account statement a trade which you did not          and may be used for any purpose, including, but not limited to,
include but are not limited to government restrictions, court        place or any similar conflicting report; (4) you become aware of     reproduction, disclosure, transmission, publication, broadcast
decisions, changes in market or exchange rules and                   any unauthorized use of your userID, password or any product         and posting, without compensation to you.
regulations, war, riots, strikes, fire, floods, natural disasters,   or service related to your brokerage account. If you fail to          .
industrial disputes, power interruptions, market or exchange         notify WH within 2 hours upon the occurrence of any of the
halts, extreme volatility, extreme volumes, theft (including         above events, you agree that WH will not have any




                   Holder / Rekeninghouder / Kontoinhaber / Titulaire                                     Joint Holder / Gemeenschapelijke Rekeninghouder / Mitinhaber / Cotitulaire


        __________________________________                              ___ / ___ / ___                        __________________________________                               ___ / ___ / ___
            Signature, Handtekening, Unterschrift                            Date                                  Signature, Handtekening, Unterschrift                             Date
    CFD+FOREX/LUX/10.04.2007
a/c:
                1 page


                                                                    RISK DISCLOSURE STATEMENT
This brief statement does not disclose all of the risks and other   You should familiarize yourself with the protections accorded        Liquidity refers to the possibility to buy or sell a financial
significant aspects of trading financial instruments with or        money or other property you deposit for domestic and foreign         instrument. Liquidity increases with the number of orders
without leverage. Trading is not free of risks. You can loose the   transactions, particularly in the event of a depository bank         present in a market. Liquidity is important. Liquidity implies that
total value of the assets you dedicate to trading. Trading with     insolvency or bankruptcy. The extent to which you may                large orders can be executed rapidly at good execution prices.
retirement money, borrowed money or money that you need to          recover your money or property may be governed by specific           Outside market hours or during certain parts of the day liquidity
maintain your living standard is strongly advised against.          legislation or local rules. In some jurisdictions, such as the       can decrease significantly and in such a way that orders
Be on your guard for advertisements promising extraordinary         United States, forex deposits, which had been specifically           cannot be executed or only partially; often at inferior execution
returns based on trading.                                           identifiable as your own, will be pro-rated in the same manner       prices.
                                                                    as cash for purposes of distribution in the event of a shortfall.
Trading requires significant knowledge of the capital markets                                                                            14       Volatility
and trading techniques. You must build experience and               7      Commissions and other charges                                 Volatility refers to the concept of price fluctuations in a financial
progress very carefully.                                            Before you begin to trade, you should inform yourself regarding      instrument. Higher volatility means more extreme price
                                                                    all commissions, fees and other charges which will apply to          fluctuations. Volatility can increase in such a way that an order
Trading using margin and/or short selling can lead to a loss in     your account and your transactions. These charges will affect        cannot be executed or only partially. Volatility differs from
excess of your account value. A decrease in value of positions      your profit or loss.                                                 financial instrument to financial instrument. Before placing
bought on margin can require you to add assets to your                                                                                   orders you need to verify if the volatility of the financial
account should you wish to avoid the forced liquidation of your     8       Transactions in other jurisdictions                          instrument you are going to place orders on is acceptable to
open position(s). Short selling increases your risk as the value    Transactions on markets in other jurisdictions may expose you        you.
of the financial instrument you need to buy back to close your      to additional risk. Such markets may be subject to regulation,
position can, theoretically, go up indefinitely.                    which may offer diminished investor protection. Before you           As an active investor you look for liquidity and volatility.
                                                                    trade you should inform yourself about any rules relevant to         Nevertheless you should be aware of the risks related to a
In light of these risks, you should undertake transactions in       your transactions. Your local regulatory authority will be           decrease in liquidity and/or changes in volatility due to
contracts for difference (CFD) or foreign exchange only if you      unable to compel the enforcement of the rules of regulatory          unexpected changes in the capital markets, sudden price
understand the characteristics of each instrument and only if       authorities or markets in other jurisdictions where your             movements, sudden volume flows, etc.
you understand the risks to which you expose yourself. Trading      transactions have been effected.
CFDs or forex is not suitable for all members of the public.                                                                             a) High volume in some financial instruments can lead to
                                                                    9       Currency risks                                               delays in order execution and to execution prices which differ
You should carefully consider whether trading is appropriate        The profit or loss resulting from transactions in foreign            significantly from the market price at the time the order was
for you in light of your experience, objectives, financial          currency-denominated contracts (whether they are traded in           entered.
resources and other relevant circumstances.                         your own or another jurisdiction) will be affected by fluctuations
RISK INFORMATION                                                    in currency rates where there is a need to convert from the          b) During periods of high volatility trading in a financial
1        Effect of 'Leverage' or 'Gearing'                          currency denomination of the contract into the base currency of      instrument can be suspended or slowed down, both via
Transactions in CFDs or forex carry a high degree of risk. The      your account or into another currency.                               electronic and manual trading systems.
amount of initial margin is small relative to the value of the
contract so that transactions are ‘leveraged' or 'geared'. A        10      Electronic trading and order routing systems                 c) Orders at market price must be executed immediately and
relatively small market movement will have a proportionally         Electronic trading and order routing systems differ from             can thus differ in price and/or quantity of those expected or
larger impact on the value of your account. This may work           traditional open outcry pit trading and manual order routing         shown when in the market at the time of order entry.
against you as well as for you. You may sustain a total loss of     methods. Transactions using an electronic system are subject
initial margin funds as well as additional funds. If the market     to their own rules and regulations. These can differ from            d) Limit orders must be executed at a predetermined execution
moves against your position or margin levels are increased,         market to market. Before you engage in transactions using an         price. Hence it is possible such an order is not executed or
you may be called upon to pay additional funds on short notice      electronic system, you should carefully review the rules and         only partially.
to maintain your position. If you fail to comply with a request     regulations which apply to the financial instruments you plan to
for additional funds within the time prescribed, your position      trade and which apply to the markets on which these                  e) You must keep in mind that in cases of extreme volatility
may be liquidated at a loss and you will be liable for any          instruments trade. Differences can occur, for example, in order      even the most advanced order routing tools can experience
resulting deficit.                                                  matching procedures, price quoting practices, open and close         delays or interruptions. At this point in time it might be possible
                                                                    price conventions and, trade error policies. You need to inform      that you cannot reach your broker by telephone.
2      Risk reducing orders or strategies                           yourself regarding the conditions under which you can be
The placing of certain orders (e.g. 'stop-loss' or ‘stop-limit’     granted or refused access to electronic trading systems as well      f) WH is convinced that its infrastructure and that of its
orders) which are intended to limit losses to certain amounts       as the order types electronic trading systems accept. All these      depository banks and other partners is suitable to serve you
may not be effective because market conditions may make it          parameters influence the risk to which you are exposed when          even in times of great volatility. There is, however, no
impossible to execute such orders or may make it impossible         making use of electronic trading systems. In addition each           guarantee that, should such circumstances arise, the
to reduce the slippage to a minimum. Strategies using               electronic trading system has its individual risk profile which is   infrastructure will not be overloaded and hence be less efficient
combinations of positions, such as 'spread' and 'straddle'          a function of factors such as response times, permissioning          than under normal circumstances.
positions may be as risky as taking simple ‘long’ or 'short'        and security
positions.                                                                                                                               g) Canceling and order repeatedly or entering an order
                                                                    11      Risk associated with system failure                          repeatedly during moments of high volatility can lead to
3      Terms and conditions of contracts                            Trading through an electronic trading or order routing system        multiple executions. You enter your orders. Hence you are
You should inform yourself in great detail about the terms and      exposes you to risks associated with system or component             responsible for ALL your orders and subsequent positions.
conditions of the contracts which you are trading. Under            failure. In the event of system or component failure, it is
certain circumstances the specifications of outstanding             possible that, for a certain time period, you may not be able to     15     Non-linearity
contracts may be modified by a relevant party in order to reflect   enter new orders, execute existing orders, or modify or cancel       Tomorrow’s opening price is not necessarily equal to or even
changes in the underlying interest.                                 orders that were previously entered. System or component             close to today’s closing price. Prices during the day can ‘jump’
                                                                    failure may also result in loss of orders or order priority.         and show gaps instead of evolving in a linear way. The forex
4      Foreign exchange market                                                                                                           market being a typical example of such non-linear price
Foreign exchange trades done internationally are not executed       12      Off-Exchange transactions                                    evolutions. Price gaps can be big and to your disadvantage.
on a centralized exchange. Counterparties quote prices and it       Firms are permitted to effect off-exchange transactions. The         Before placing orders you need to verify if the financial
is up to the traders to take them or leave them. There is no        firm with which you deal may be acting as your counterparty to       instrument you are going to place orders on is susceptible to
‘correct’ price and there is no exchange which centralizes          the transaction. It may be difficult or impossible to liquidate an   price gaps and if the size of these price gaps is acceptable to
monitors and records all transactions.                              existing position, to assess the value, to determine a fair price    you.
                                                                    or to assess the exposure to risk. For these reasons, these
                                                                    off-exchange transactions may involve increased risk. Off-           16      Spreads
5       Suspension or restriction of trading and pricing            exchange transactions may be less regulated or subject to a          Spread refers to the difference between the best bid price (the
Market conditions (e.g. illiquidity) and/or the operation of the    separate regulatory regime. Before you undertake such                price at which you can sell a position) and the best ask price
rules of certain markets may increase the risk of loss by           transactions, you should inform yourself regarding the               (the price at which you can buy a position). The larger the
making it difficult or impossible to effect transactions or         applicable rules and attendant risks.                                spread on a financial instrument, the less interesting it
liquidate/offset positions.                                                                                                              becomes to the investor because a bigger price movement is
                                                                    13     Liquidity                                                     required before the break-even point on an open position is
6      Cash and financial instruments on deposit                                                                                         reached.




                   Holder / Rekeninghouder / Kontoinhaber / Titulaire                                    Joint Holder / Gemeenschapelijke Rekeninghouder / Mitinhaber / Cotitulaire


        __________________________________                               ___ / ___ / ___                       __________________________________                                ___ / ___ / ___
            Signature, Handtekening, Unterschrift                             Date                                 Signature, Handtekening, Unterschrift                              Date
  CFD+FOREX / LUX / 18.05.2007
a/c:
               1 Page


                                                                    CORPORATE BOARD RESOLUTION

Date _____ / _____ / 20___


To: WH SelfInvest SA (‘WH’).


The undersigned Corporation, by _____________________________________ (President’s name), pursuant to the resolutions of our board of
directors detailed below and certified by the Secretary, hereby authorizes you to open an account in the name of the Corporation; and the
undersigned represents that no one other than the undersigned has any interest in such account. The undersigned also encloses herewith your
Account Application Form, General Terms and Conditions and Risk Disclosure Statement duly executed on behalf of the Corporation. This
authorization shall continue in force until revoked by the undersigned Corporation by a written notice, addressed to you and delivered at your
main office.
Very truly yours,
                                                                                                                        ____________________________
                                                                                                                                  (President's signature)


I, ____________________________ (Board Secretary’s name) being the Secretary of _________________________________ (Corporation’s
name) , hereby certify


that the resolutions to open a trading account with WH detailed below were duly adopted at a meeting of the Board of Directors, duly held on
the _________ / _____ / 20_____ at which a quorum of said Board of Directors was present and acting throughout and that no action has
been taken to rescind or amend said resolutions and the same are now in full force and effect. I further certify that each of the following has
been duly elected and is now legally holding the office set opposite his name:


                                       ________________________________________, President


                                       ________________________________________, Vice President


                                       ________________________________________, Treasurer


                                       ________________________________________, Secretary


I further certify that the said Corporation is duly organized and existing and has the power to take the action called for by the resolutions
annexed hereto.
IN WITNESS WHEREOF, I have hereunto affixed my hand this _________ / _____ / 20_____

                                                                                                                                                                                       Seal
                                                            ______________________________
                                                                    Secretary’s signature
CERTIFIED COPY OF CERTAIN RESOLUTIONS ADOPTED BY THE BOARD OF DIRECTORS WHEREBY THE ESTABLISHMENT AND MAINTENANCE OF TRADING ACCOUNTS HAVE
BEEN AUTHORIZED. RESOLVED.
FIRST: That the President or any Vice President of this              of any contract, arrangement, or transaction, which shall be            (c)   a certificate (which, if required by WH, shall be
Corporation, or______________________ or                             entered into by any such officer and/or agent for and on behalf         supported by an opinion of the general counsel of the
____________________________ be and they hereby are,                 of the Corporation with or through WH; to pay in cash or by             Corporation, or other counsel satisfactory to WH) that the
and each of them hereby is, authorized and empowered, for            checks and/or drafts drawn upon the funds of the Corporation            Corporation is duly organized and existing, that its charter
and on behalf of this corporation (herein called the                 such sums as may be necessary in connection with any of the             empowers it to transact the business by these resolutions
"Corporation"), to establish and maintain one or more                said accounts; to deliver securities, contracts and/or                  defined, and that no limitation has been imposed upon such
accounts, which may be margin accounts, with WH                      commodity futures to WH; to order the transfer or delivery              powers by the By-Laws or otherwise.
SelfInvest SA (herein called ‘WH’) for the purpose of                thereof to any other person whatsoever, and/or to order the             * Note: If either (a) or (b) in the first paragraph is not
purchasing, investing in, or otherwise acquiring, selling            transfer of record of any securities, or contracts, or titles, to any   applicable please strike out the inapplicable part.
(including short-sales), possessing, transferring, exchanging,       name selected by any of the said officers or agents; to affix the
pledging, or otherwise disposing of, or turning to account of,       corporate seal to any documents or agreements, or otherwise;            FOURTH: That WH may rely upon any certification given in
or realizing upon, and generally dealing in and with (a)* any        to endorse any securities and/or contracts in order to pass title       accordance with these resolutions, as continuing fully
and all forms of securities including, but not by way of             thereto; to direct the sale or exercise of any rights with respect      effective unless and until WH shall receive due written
limitation, shares, stocks, bonds, debentures, notes, scrip,         to any securities; to sign for the Corporation all releases,            notice of a change in or the rescission of the authority so
participation certificates, rights to subscribe, options,            powers of attorney and/or other documents in connection with            evidenced and the dispatch or receipt of any other form of
warrants, certificates of deposit, mortgages, chooses in             any such account, and to agree to any terms or conditions to            notice shall not constitute a waiver of this provision, nor
action, evidences of indebtedness, commercial paper,                 control any such account; to direct WH to surrender any                 shall the fact that any person hereby empowered ceases to
certificates, of indebtedness and certificates of interest of any    securities to the proper agent or party for the purpose of              be an officer of the Corporation, or becomes an officer
and every kind and nature whatsoever, secured or                     effecting any exchange or conversion, or for the purpose of             under some other title, in any way affect the powers hereby
unsecured, whether represented by trust, participating and/or        deposit with any protective or similar committee, or otherwise;         conferred. The failure to supply any specimen signature
other certificates or otherwise; and (b)* any and all                to accept delivery of any securities, contracts and/or                  shall not invalidate any transaction if the transaction is in
commodities and/or contracts for the future delivery thereof,        commodity futures; to appoint any other person or persons to            accordance with authority actually granted.
whether represented by trust, participating and/or other             do any and all things which any of the said officers and/or             FIFTH: That in the event of any change in the office or
certificates or otherwise.                                           agents is hereby empowered to do, and generally to do and               powers of persons hereby empowered, the Secretary shall
                                                                     take all action necessary in connection with the account, or            certify such changes to WH in writing in the manner herein
The fullest authority at all times with respect to any such
                                                                     considered desirable by such officer and/or agent with respect          above provided, which notification, when received, shall be
commitment or with respect to any transaction deemed by
                                                                     thereto.                                                                adequate both to terminate the powers of the person
any of the said officers and/or agents to be proper in
connection therewith is hereby conferred, including authority        SECOND: That WH may deal with any and all of the persons                theretofore authorized, and to empower the persons
(without limiting the generality of the foregoing) to give           directly or indirectly by the foregoing resolution empowered, as        thereby substituted.
written or oral instructions to WH with respect to said              though they were dealing with the Corporation directly.                 SIXTH: That the foregoing resolutions and the certificates
transactions; to borrow money and securities and if                  THIRD: That the Secretary of the Corporation be and he                  actually furnished to WH by the Secretary of the
transactions in commodities are authorized hereby to borrow          hereby is authorized, empowered and directed to certify, under          Corporation pursuant thereto, be and they hereby are made
commodities and/or future contracts in commodities, and to           the seal of the Corporation, or otherwise, to WH:                       irrevocable until written notice of the revocation thereof
borrow such money, securities, commodities and/or future                                                                                     shall have been received by WH.
contracts in commodities from or through WH, and to secure           (a)    a true copy of these resolutions;
repayment thereof with the property of the Corporation; to           (b)    specimen signatures of each and every person by these
bind and obligate the Corporation to and for the carrying out        resolutions empowered;

				
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