Open Real Trading Account Online

  1. Opening a Real Trading Account with Zara Commodities (Pvt.) Limited is as simple as 123.Fill up below online Account Application
  2. Email any of your Govt. Issued Valid Photo ID in English (Passport, Driver’s License etc) along with latest address proof (Mobile bill, utility bill, bank statement) to compliance@zaracommodities.com
  3. Wire your Funds upon Account Confirmation & Approval Email by our compliance department
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1 Customer Agreement
2 Risk Disclosure and Agreements
3 Trader Information
4 Confirmation and Account Funding
5 SUBMIT FORM
Secure Online Account Application
Zara Commodities (Pvt.) Limited - Individual Account Forms

CUSTOMER AGREEMENT

IMPORTANT! ANY PERSON OR ORGANIZATION ACCESSING OR ATTEMPTING TO ACCESS THE ONLINE OR ELECTRONIC TRADING SERVICES OF ZARA COMMODITIES, MUST FIRST AGREE TO THE TERMS OF THIS AGREEMENT. SUCH SERVICES SHALL INCLUDE ALL STATEMENT REVIEWS, NEW ACCOUNT ORIGINATION, INTERNET TRADING AND ELECTRONIC ORDER ENTRY AND REPORTS, MARKET, TRADING AND GENERAL INFORMATION, INCLUDING QUOTES, CHARTS, NEWS, AND SYSTEM INFORMATION, ALL CLEARING AND BACK OFFICE FUNCTIONS AND SERVICES, ALL SOFTWARE PROVIDED BY ZARA COMMODITIES TO USER (“SOFTWARE”), THE ZARA COMMODITIES WEB SITE, AS WELL AS ANY OTHER SERVICES THAT MAY BE ADDED FROM TIME TO TIME (“COLLECTIVELY REFERRED TO HEREIN AS “THE SYSTEM”). THIS AGREEMENT SHALL APPLY TO ANY PERSON OR ORGANIZATION WHO ACCESSES OR ATTEMPTS TO ACCESS THE SYSTEM, AS WELL AS ANY PERSON OR ORGANIZATION WHO BENEFITS FROM SUCH USE, INCLUDING BUT NOT LIMITED TO, USERS WHO BENEFIT FROM THE USE OF THE SYSTEM BY BROKERS ACTING ON THEIR BEHALF (“USER”). ALL LIMITATIONS OF LIABILITY AND DISCLAIMERS CONTAINED HEREIN SHALL APPLY TO THE SYSTEM REGARDLESS OF WHETHER OR NOT THE SYSTEM OR ANY PART THEREOF, WAS DEVELOPED OR IS SERVICED OR SUPPORTED BY ZARA COMMODITIES. USE OF THE SYSTEM OR USER’S SIGNED ACKNOWLEDGEMENT, INDICATES USER’S UNQUALIFIED ACCEPTANCE OF ALL OF THE TERMS OF THIS AGREEMENT. IF USER FINDS THIS AGREEMENT UNACCEPTABLE, IT SHALL NOT USE THE SYSTEM. ZARA COMMODITIES IS WILLING TO PROVIDE THE SYSTEM TO USER ONLY IF USER AGREES TO BE BOUND BY THE FOLLOWING TERMS

 

You must agree to receive a Risk Disclosure Statement, Trader Agreement, Trader Account Letter and Transaction Disclosure electronically.

  1. User agrees that the use of the System is at User’s own risk. User shall be responsible for providing and maintaining the means by which it accesses the System, which may include, without limitation, personal computer, modem and telephone, or other access line. User shall be responsible for all access and services fees necessary to connect to the System and assumes all charges incurred in accessing the System. User further assumes all risks associated with the use and storage of information on User’s personal computer. Executing Transactions Electronically. The Agreement and Transactions will be executed using electronic records and electronic signatures.
  2. All trades, transactions and contracts between the parties shall be subject to the securities and exchange ordinance, 1969 read with the Securities &Exchange Commission of Pakistan Act, 1997, Commodity Exchange and Future Contract Rules, 2005, General Regulations of the Exchange, Notices and Circulars. The broker shall ensure copies of all the above Acts/Ordinances rules, regulations, notices and circulars at his office for access to the account holder(s) during the working hours.
  3. Consenting to Do Business Electronically. The decision whether to do business electronically is yours, and you should consider whether you have the necessary hardware and software capabilities. Your consent to do business electronically, and our agreement to do so, only applies to the establishment and maintenance of your Account and the execution of Transactions in connection with your Account.
  4. Withdrawal of Consent. You have the right to withdraw your consent to doing business electronically at any time.  However, if you withdraw such consent, any Communications or Transactions between us during the period after your consent to doing business electronically, and before your withdrawal of such consent, will be valid and binding on all parties.
  5. Changes to Your Contact Information. You should keep us informed of any change in your electronic or mailing address or other contact information.
  6. Printing. You may print this document by selecting Print from the File menu.
  7. Your Ability to Access Electronic Communications. When you select the "I Agree" button below, you acknowledge that you have the capability to access the Communications electronically.
  8. Consent to Executing Transactions Electronically. When you select the "I Agree" button below, you consent to executing the Agreement and Transactions by electronic record and/or electronic signature.

In consideration of Zara Commodities, (hereinafter referred to as " Zara Commodities ") acting as broker and accepting one or more accounts in futures trading or any other product approved for trading by Zara Commodities regulatory authorities (collectively, "(Futures Trading") for the undersigned ("Customer"), it is agreed with respect to all accounts, whether upon margin or otherwise, which Customer now has or may at any future time have with Zara Commodities , including accounts from time to time closed and then reopened, as follows:

9. AUTHORIZATION

Customer authorizes Zara Commodities to purchase and sell futures contracts for Customer's account in accordance with Customer's oral or written instructions. Customer hereby waives any defense that any such instructions were not in writing as may be required by any law, rule, or regulation. The authority hereby conferred shall remain in force until written notice of its revocation signed by Customer.

10. GOVERNMENTAL AND OTHER RELATED RULES

All transactions shall be subject to the constitution, by-laws, rules, regulations, customs, usages, rulings and interpretations of the exchange, board of trade, contract market or other market (and its clearing house, if any) where executed and to all applicable federal and state laws and regulations. If any statute, rule, or regulation shall hereafter be adopted by any governmental authority, exchange, board of trade, clearing house, or self regulatory organization which shall be binding upon Zara Commodities and shall affect in any manner or be inconsistent with any of the provisions hereof, the affected provisions of this agreement shall be deemed modified or superseded, as the case may be, by the applicable provisions of such statute, rule, or regulation, and all other provisions of this agreement and provisions so modified shall in all respects continue in full force and effect. This paragraph is solely for Zara Commodities protection and Zara Commodities failure to comply with any such statute, rule or regulation shall not be a breach of this agreement or otherwise impose liability upon Zara Commodities to Customer nor relieve Customer of any obligations under this agreement.

11. MARGINS

Customer shall provide to and maintain with Zara Commodities margin in such amounts and in such form as Zara Commodities, in its sole discretion, from time to time may determine. Such margin requirements established by Zara Commodities may exceed the margin required of Zara Commodities by an exchange. Zara Commodities may change margin requirements in its sole discretion at any time. If Zara Commodities determines that additional margin is required, Customer agrees to deposit with Zara Commodities such additional margin when and as required and demanded by Zara Commodities, and will promptly meet all margin calls in such manner as Zara Commodities shall designate in its sole discretion. Notwithstanding any demand for additional margin, Zara Commodities at any time may proceed in accordance with paragraph 5 below, and any failure to proceed shall not be deemed a waiver of any rights by Zara Commodities. No previous margin shall establish any precedent. Zara Commodities shall not be liable to Customer for the loss of any margin deposits which is the direct or indirect result of the bankruptcy, insolvency, liquidation, receivership, custodianship, or assignment for the benefit of creditors of any bank, another clearing broker, exchange, clearing organization, or similar entity.

12. SECURITY AGREEMENT AND TRANSFER AUTHORIZATION

(a) All funds, securities, commodities, open futures contracts, and other property of the Customer which Zara Commodities at any time may be carrying for Customer (either individually, jointly with others, or as a guarantor of the account of another person) or which at any time may be in Zara Commodities possession or control or carried on its books for any purpose, including safekeeping, are to be held by Zara Commodities as security and subject to a general lien and right of set-off for all liabilities of Customer to Zara Commodities or any affiliate of Zara Commodities. From time to time, Zara Commodities in its sole discretion, without prior notice to Customer may, apply or transfer any funds (including segregated funds) or other property interchangeably between any of Customer's accounts at Zara Commodities or an affiliate of Zara Commodities as may be necessary for margin or to satisfy or reduce any deficit or debit balance in any such account. Within a reasonable time after any such transfer, Zara Commodities will confirm the transfer in writing to Customer.

(b) Customer will not be permitted to make or change an election concerning account type. Subject to such requirements, Customer hereby grants to Zara Commodities the right to pledge, repledge, hypothecate, rehypothecate, or invest, either separately or with the property of other customers, any securities or other property held by Zara Commodities for the accounts of Customer or as collateral therefore, including without limitation to any exchange or clearing house through which trades of Customer are executed. Zara Commodities shall be under no obligation to pay to Customer or account for any interest, income or benefit derived from such property and funds or to deliver the same securities or other property deposited with or received by Zara Commodities for the account of Customer. Zara Commodities may deliver securities or other property of like or equivalent kind or amount.

(c) Any rights Zara Commodities has under this agreement for purposes of cross-collateralization and Customer default may be exercised by any affiliate of Zara Commodities in connection with property and positions of Customer with such Zara Commodities affiliate. As security for the payment of all Customer's obligation and liabilities to a Zara Commodities affiliate, each Zara Commodities affiliate shall have a continuing priority security interest in all property in which Customer has an interest held by or through a Zara Commodities affiliate. In order to satisfy and outstanding liability or obligation of Customer at a Zara Commodities affiliate, such affiliates, at any time and without prior notice, may use, apply or transfer any such property and collateral interchangeably between and among themselves. In the event of a breach or default under this agreement or any other agreement Customer may have with a Zara Commodities affiliate, each Zara Commodities affiliate shall have all rights and remedies available to a secured creditor under any applicable law in addition to the rights and remedies provided herein.

13. LIQUIDATION OF ACCOUNTS

In the event of (a) the death or judicial declaration of incompetency of Customer, (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, by or against Customer, or any one of the Customers if this is a joint account, (c) the filing of an attachment against any of Customer's accounts carried by Zara Commodities, (d) insufficient margin as determined by Zara Commodities in its sole discretion, or Zara Commodities determination that any collateral deposited to protect one or more accounts of Customer is inadequate, regardless of current market quotations, to secure the account, or (e) any other circumstances or developments that Zara Commodities deems to require action necessary for its protection, Zara Commodities is hereby authorized, according to its judgment and in its sole discretion, to take one or more or any portion of the following actions: (1) satisfy any obligation Customer may have to Zara Commodities, either directly or by way of guaranty or surety ship, out of any of Customer's funds or property in the custody or control of Zara Commodities; (2) sell any or all futures contracts held or carried for Customer carried as a short position for Customer; and (3) cancel any or all outstanding orders, contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether the ownership interest shall be solely Customer's or held jointly with others. In liquidating Customer's long or short position, Zara Commodities, in its sole discretion may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Zara Commodities judgment may be necessary or advisable to protect existing positions in Customer's account. Any sales or purchases hereunder may be made according to Zara Commodities judgment and at its discretion on any exchange or other market where such business is then usually transacted or at public auction or at private sale, and Zara Commodities may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand, call, or notice of the time and place of a sale or purchase shall not be considered a waiver of Zara Commodities right to sell or buy without demand or notice as herein provided. Customer at all times shall be liable for the payment of any debit balance upon demand by Zara Commodities, and shall be liable for any deficiency remaining in Customer's account(s) in the event of the liquidation thereof in whole or in part by Zara Commodities or by Customer. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Customer due to Zara Commodities, Customer promptly shall pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonable attorneys' fees. Customer agrees to pay all expenses, including attorneys' fees, incurred by Zara Commodities to collect any debit balances in Customer's account or to defend any unsuccessful claim Customer may bring against Zara Commodities.

14. ROLL OVER INSTRUCTIONS

(a) Liquidating instructions on open positions maturing in a current expiry must be given to Zara Commodities at least five (5) business days prior to the first notice day in the case of long positions and, in the case of short positions, at least five (5) business days prior to the last trading day. Alternatively, sufficient funds to take delivery or the necessary delivery documents must be delivered to Zara Commodities within the same periods described above. If neither instructions, funds, nor documents are received, Zara Commodities without notice may either liquidate Customer's position or rollover at last MOC on behalf of Customer upon such terms and by such methods which Zara Commodities deems feasible.

(b) If at any time Customer fails to deliver to Zara Commodities any property previously sold by Zara Commodities on Customer's behalf or fails to deliver property, securities or financial instruments in compliance with futures contracts, or Zara Commodities shall deem it necessary (whether by reason of the requirements of any exchange, clearing house or otherwise) to replace any securities, futures contracts, financial instruments, or other property previously delivered by Zara Commodities for the account of Customer with other property of like or equivalent kind or amount, Customer authorizes Zara Commodities in its judgment to borrow or to buy any property necessary to make delivery thereof or to replace any such property previously delivered and to deliver the same to such other party to whom delivery is to be made. Zara Commodities may repay subsequently any borrowing thereof with property purchased or otherwise acquired for the account of Customer. Customer shall pay Zara Commodities for any cost, loss and damage from the foregoing (including consequential damages, penalties and fines) which Zara Commodities may be required to incur or which Zara Commodities may sustain from its inability to borrow or buy any such property.

15. CHARGES

Customer agrees to pay such commission and account charges and fees as Zara Commodities may establish and change from time to time. Customer agrees to be liable to Zara Commodities for interest on amounts due from Customer to Zara Commodities at the rates customarily charged by Zara Commodities. In the event Customer's account is having to transactions the whole month, customer agrees to pay monthly account fee of us dollars fifteen per month.

16. STATEMENTS AND CONFIRMATIONS

Customer acknowledges that Customer is bound to the actual executions of transactions to either market maker, and understands that all reports of execution, price quotations and other market information are subject to change and errors as well as delays in reporting. Customer agrees that reliance upon such information is at his own risk.
Confirmations of trades and any other similar notices, including but not limited to purchase and sale statements, sent to Customer shall be conclusive and binding unless Customer notifies Zara Commodities to the contrary, (i) where a report is made orally, at the time delivered to Customer, or (ii) where a report or notice is in writing, prior to the opening of trading on the next day following delivery of the report on which the relevant Exchange is open for business. Customer's account shall be conclusive and binding unless Customer notifies Zara Commodities to the contrary immediately upon delivery to the Customer. ANY OBJECTION OF CUSTOMER TO A TRADE CONFIRMATION OR SIMILAR NOTICE OR A MONTHLY STATEMENT MUST BE MADE IN WRITING AND DIRECTED TO ZARA COMMODITIES COMPLIANCE DEPARTMENT AT COMPLIANCE@ZARACOMMODITIES.COM OR VIA FACSIMILE TRANSMITTED TO +924235750805-6-7 , WITHIN THE TIME PERIOD SET FORTH ABOVE. THE FAILURE OF CUSTOMER TO PROVIDE SUCH TIMELY WRITTEN OBJECTION IN THE MANNER SPECIFIED SHALL CONSTITUTE RATIFICATION OF ALL ACTIONS TAKEN BY ZARA COMMODITIES OR ITS AGENTS.

17. COMMUNICATIONS

Reports, statements, notices and any other communications may be transmitted to Customer at the address given in the Account Application, or to such other address as Customer may from time to time designate in writing. All communications so sent, whether by mail, fax, air courier, messenger email, internet access, or otherwise, shall be deemed transmitted when deposited in the United States mail, or when received by a transmitting agent, and deemed delivered to Customer, whether actually received by Customer or not.

18. COMMUNICATION DELAYS

Zara Commodities shall not be held responsible for delays in the transmission or execution of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond Zara Commodities control.

19. CURRENCY FLUCTUATION RISK

If Customer directs Zara Commodities to enter into any transaction to be effected in a foreign currency: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for Customer's account and risk; (b) all initial and subsequent deposits for margin purposes shall be made in Pak Rupees in such amounts as Zara Commodities in its sole discretion may require; and (c) Zara Commodities is authorized to convert funds in Customer's account into and from such foreign currency at an exchange rate determined by Zara Commodities in its sole discretion on the basis of the prevailing exchange rates at that particular time. Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose you to additional risk. Such markets may be subject to regulation that may offer different or diminished investor protection. Domestic regulatory authorities will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions.

20. TRADING RECOMMENDATIONS

Customer acknowledges that (a) any market recommendations and information communicated to Customer by Zara Commodities do not constitute an offer to sell or the solicitation of an offer to buy any commodity or futures contract; (b) such recommendations and information, although based upon information obtained from sources believed by Zara Commodities to be reliable, may be incomplete and may not be verified; and (c) Zara Commodities makes no representation, warranty or guaranty as to and shall not be responsible for, the accuracy or completeness of any information or trading recommendation furnished to Customer. Customer understands that Zara Commodities officers, directors, affiliates, stockholders, employees, or representatives may have a position in and may intend to buy or sell commodities or futures contracts which are the subject of market recommendations furnished to Customer, and that the market position of any such officer, director, affiliate, stockholder, employee, or representative may or may not be consistent with the recommendations furnished to Customer by Zara Commodities. Zara Commodities makes no representation, warranty, or guaranty with respect to tax consequences of Customer's transactions.

21. CUSTOMER REPRESENTATIONS

Customer represents that the information contained in the Account Application is true, correct, and not misleading in any respect, and agrees that he will promptly notify Zara Commodities in writing if any of the information or representations contained therein materially changes or ceases to be true and correct in any material respect. Customer further represents that he is of legal age and sound mind and that, except as disclosed in writing to Zara Commodities, no one except Customer has an interest in any account or accounts carried for Customer by Zara Commodities. Customer further represents that he is not an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange, any firm registered on any exchange, any futures commission merchant, any introducing broker, or any bank, trust, or insurance company. In the event that Customer becomes so employed, he will promptly notify Zara Commodities in writing of such employment. Customer further represents that he has full power and authority to enter into this agreement and to engage in transactions in futures contracts of the kind contemplated herein and that execution of this agreement, performance of duties hereunder, and the trading of futures contracts by customer are not prohibited by any law, rule, regulation, agreement or otherwise.

22. TRADING LIMITATIONS

Zara Commodities at anytime in its sole discretion may limit the number of positions which Customer may maintain or acquire through Zara Commodities. Customer agrees not to exceed the position limits established by the PMEX or any contract market, whether acting alone or with others, and to promptly advise Zara Commodities if Customer is required to file any reports on positions. Moreover Online Trading Platform has the auto built in capability to liquidate the extra open positions in case of worst market move against the client’s open positions.

23. CONSENT TO CROSS TRANSACTIONS

This consent is being provided in order to comply with exchange rules regarding cross trade procedures and the execution of trades in which a floor broker or brokerage firm may be directly or indirectly involved as a principal to a transaction on any exchange that, from time to time, adopts rules requiring customer consent for these transactions. Customer hereby consents that Zara Commodities,("Zara Commodities"), its agents, or floor brokers handling Zara Commodities orders, may, without prior notice, execute Customer's orders in which Zara Commodities, its directors, officers, employees, agents, or the floor broker, may directly or indirectly, become the buyer to Customer's sell order or the seller to Customer's buy order, provided that such executions are made in accordance with exchange rules and any applicable provisions of the Commodity Exchange Act or regulations of the Commodity Futures Trading Commission. This consent shall be continuous and remain in effect until revoked in writing by Customer.

24. NO WAIVER OR AMENDMENT

No provision of this agreement may be waived or amended unless the waiver or amendment is in writing and signed by an authorized officer of Zara Commodities. No waiver or amendment of this agreement shall be implied from any course of dealing between the parties or from any failure by Zara Commodities or its agents to assert its rights under this agreement on any occasion or series of occasions. No oral agreements or instructions to the contrary shall be recognized or enforceable.

25. GOVERNING LAW / PARTIAL INVALIDITY

This agreement and its enforcement shall be governed by the internal laws of the State of Illinois without reference to conflict-of-laws principles. Wherever possible, each provision of this agreement shall be interpreted in such a manner as to be valid and effective under applicable law, but if any provision of this agreement shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this agreement.

26. BINDING EFFECT

This agreement shall be continuous and shall cover, individually and collectively, all accounts of Customer at any time opened or reopened with Zara Commodities, irrespective of any change or changes at any time in the personnel of Zara Commodities or its successors, assigns, or affiliates, for any cause whatsoever; shall inure to the benefit of Zara Commodities and its successors and assigns, whether by merger, consolidation or otherwise; and shall be binding upon Customer and the estate, executors, administrators, legal representatives, successors and assigns of Customer. Customer hereby ratifies all transactions with Zara Commodities effected prior to the date of this agreement, and agrees that the rights and obligations of Customer in respect thereto shall be governed by the terms of this agreement, which supersedes all other customer agreements between Zara Commodities and Customer.

27. TERMINATION

This agreement shall continue in effect until terminated and may be terminated by Customer at any time when Customer has no positions and no liabilities held by or owed to Zara Commodities or at any time whatsoever by Zara Commodities; provided, however, that any such termination shall not affect any transactions theretofore entered into and shall not relieve either party of any obligations in connection with any debit or credit balance or other liability or obligation incurred prior to such termination.

28. INDEMNIFICATION

Customer agrees to indemnify Zara Commodities and hold Zara Commodities harmless from and against any and all liabilities, losses, damages, costs and expenses, including attorneys' fees, incurred by Zara Commodities because any of the Customer's representations and warranties shall not be true and correct or the agreements made herein by Customer shall not be fully and timely performed. Customer also agrees to pay promptly to Zara Commodities all damages, costs and expenses, including attorneys' fees, incurred by Zara Commodities in the enforcement of any of the provisions of this agreement.

29. RECORDING

(a) Customer understands that Zara Commodities in its sole discretion may record, on tape or otherwise, any telephone conversation between Zara Commodities and Customer. Customer hereby agrees and consents to such recording and waives any right Customer may have to object to the admissibility into evidence of such recording in any legal proceeding between Customer and Zara Commodities or in any other proceeding to which Zara Commodities is a party or in which Zara Commodities records are subpoenaed.

(b) Absent a separate written agreement with Customer or an advisor duly authorized to act on Customer's behalf, Zara Commodities in its sole discretion may, but shall not be obligated to, accept futures contracts from other brokers executed by such brokers for clearance and maintenance in Customer's account. If Zara Commodities and Customer enter into a separate give-up agreement, this agreement will control in the event of any conflict between such agreements.

30. TERMS AND HEADINGS

The term "Zara Commodities" shall be deemed to include Zara Commodities, and its agents, successors and assigns; the term "Customer" shall be deemed to refer to the party or parties executing this agreement. All pronouns shall be deemed to refer to the feminine or the masculine, as the gender of Customer requires. If this is a joint account, the singular shall mean, where appropriate, all owners of an account and the statements, agreements, representations and warranties set forth herein shall be deemed to have been made by each owner of the account. The paragraph headings in this agreement are inserted for convenience of reference only and are not intended to limit the applicability or affect the meaning of any of its provisions.

31. JOINT ACCOUNT PROVISIONS

(a) If this account is held by more than one (1) person, all of the joint holders are jointly and severally liable to Broker for any and all obligations arising out of transactions in the account and agree to be bound by all terms and conditions of the Customer Agreement signed by each party. Broker is authorized to accept instructions and to send confirmations to any one of the joint owners, and the Customer hereby further appoints any and all of said joint owners as Customer's agent for receipt of confirmations and hereby waives any right to receive confirmations otherwise. Any one or more of the joint owners shall have full authority for the account and risk in the name of the joint account.

(b) If this account is a joint account, in the event of the death of any of the Customers, the survivor(s) shall immediately give Zara Commodities written notice thereof, and Zara Commodities, before or after receiving such notice, may take such action, institute such proceedings, require such papers, retain such portion of the account, and restrict transactions in the account as Zara Commodities may deem advisable to protect Zara Commodities against any tax, liability, penalty, or loss under any present or future laws or otherwise. The estate(s) of any of the Customers who shall have died shall be liable, and the survivor(s) shall continue to be liable, to Zara Commodities for any debit balance or loss in the account in any way resulting from the completion of transactions initiated prior to the receipt by Zara Commodities of the written notice of the death of the decedent, or incurred in the liquidation of the account, or the adjustment of the interests of the respective parties.

(c) If this account is held by tenants in common, then, in the event that the account is closed or upon receipt of a certified document evidencing death or legal incapacity of any tenant, the account shall be divided in equal shares unless Broker is otherwise notified, in writing, signed by all joint owners of the amounts to be distributed to the individual joint owners.

(d) If this account is held by the parties as joint tenants with rights of survivorship, then, upon receipt of a certified document evidencing death or legal incapacity of one of the parties, the remaining party or parties shall continue this account in their name as sole or joint owners with all the terms and conditions of said account continuing in full force and effect.

32. PARTNERSHIP PROVISION

Where Customer is a partnership, the event of the dissolution or the termination of the Customer or the dissolution, termination or withdrawal of a general partner of the Customer by death, retirement, or for any other reason, the remaining partners immediately shall give Zara Commodities written notice thereof and Zara Commodities may, before or after receiving such notice, close the account(s) of Customer and proceed in accordance with paragraph 5 above and take such action, institute such proceeding, require such papers, retain such portion of the account(s) or restrict transaction in the account(s) as Zara Commodities may deem advisable to protect Zara Commodities against any liability, tax, or penalty under any present or future laws or otherwise. The estate of any of the general partners who shall have died shall be liable, and each survivor shall continue to be liable to Zara Commodities for any debit balance or loss in said account(s) resulting from the completion of transactions initiated prior to receipt by Zara Commodities of such written notice or incurred in the liquidation of the account(s) or the adjustment of the interests of the respective parties.

33. JURISDICTION, VENUE, WAIVER OF JURY TRIAL AND SHORTENING OF LIMITATIONS PERIOD

Customer agrees that any civil action, arbitration or other legal proceeding between Zara Commodities or its employees or associated persons, on one hand, and Customer, on the other hand, arising out of or relating to this agreement on Customer's account shall be brought, heard and resolved only by the Head office located in Lahore, Pakistan and Customer hereby waives the right to have such proceeding transferred to any other location. In addition, Customer hereby waives trial by jury in any such action or proceeding. No action, regardless of form, arising out of or relating to this agreement or transactions hereunder may be brought by Customer more than two months after the cause of action arose. Customer hereby submits and consents to personal jurisdiction in any court in Lahore and appoints and designates Zara Commodities (or any other party whom Zara Commodities may from time to time hereinafter designate) as Customer's true and lawful attorney-in-fact and duly authorized agent for service of legal process, and agrees that service of such process upon Zara Commodities or such other party shall constitute personal service of such process upon Customer; provided, that Zara Commodities or such other party shall, within five days after receipt of any such process, forward the same by air courier or by certified or registered mail, together with all papers affixed thereto, to Customer at Customer's last known mailing address.

34. RISK ACKNOWLEDGEMENT

i) Customer acknowledges that investment in Futures Trading is speculative, involved a high degree of risk due to high leverage provided and other volatility reason due to high volume and is suitable only for persons who can assume risk of loss in excess of their margin deposits. Customer understands that because of the low margin normally required in futures trading, price changes in futures contracts may result in significant losses, which losses may substantially exceed Customer's margin deposits. Customer represents that Customer is willing and able, financially and otherwise, to assume the risks of futures trading, and in consideration of Zara Commodities carrying Customer's account(s), Customer agrees not to hold Zara Commodities responsible for losses incurred through following its trading recommendations or suggestions or those of its employees, agents or representatives. Customer recognizes that guarantees of profit or freedom from loss are impossible of performance in futures trading, acknowledges that Customer has received no such guarantees from Zara Commodities or from any of its representatives, and has not entered into this agreement in consideration of or in reliance upon any such guarantees or similar representations.

ii) Mark to market settlement resulting in losses: Losses incurred at the end of trading day will be first deducted from the respective funds available with the exchange in the form of margin deposits, after covering up the minimum margin required at the end of the trading day. If the balance available to the credit of the account holder(s) is not adequate to cover the loss incurred by the broker or account holder(s) a variation margin call will be generated to cover the amount of loss. Variation margin call amount will be collected from each account holder(s). The account holder(s) will be required to pay to the exchange 100% of the amount of variation margin call in cash. Variation margin calls (Losses) at the end of each day will be paid to the clearing house latest by the exchange determined cutoff time on the same trading day.

35. Anti-Money Laundering

Important Information About Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

36. ACCEPTANCE. This agreement shall not be deemed to be accepted by Zara Commodities or become a binding contract between Customer and Zara Commodities until approved by Zara Commodities new accounts department.

THIS IS A CONTRACTUAL AGREEMENT. PLEASE READ CAREFULLY BEFORE SIGNING.

BY SIGNING THIS AGREEMENT, CUSTOMER REPRESENTS AND WARRANTS TO BROKER THAT ALL INFORMATION SUPPLIED TO BROKER IN THIS OR ANY OTHER ACCOUNT FORM IS TRUE AND ACCURATE, AND THAT CUSTOMER SHALL INFORM BROKER IN WRITING OF ANY CHANGES TO SUCH INFORMATION WHEN SUCH CHANGES OCCUR. ZARA COMMODITIES IS HERBY AUTHORIZED TO VERIFY ALL INFORMATION PROVIDED BY CUSTOMER(S) HEREIN. I (WE) HEREBY REQUEST ZARA COMMODITIES, TO OPEN A TRADING ACCOUNT IN THE NAME(S) SET FORTH IN THIS APPLICATION. I (WE) HAVE READ AND UNDERSTOOD THE TERMS AND CONDITIONS OF THE CUSTOMER AGREEMENT GOVERNING THE ACCOUNT AND AGREE TO BE BOUND BY THEM AS CURRENTLY IN EFFECT.
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This disclosure statement discusses the characteristics and risks of Futures Trading

Section 1 – Risks of Futures Trading

Trading Futures may not be suitable for all investors. You may lose a substantial amount of money in a very short period of time. The amount you may lose is potentially unlimited and can exceed the amount you originally deposit with your broker. This is because futures trading is highly leveraged, with a relatively small amount of money used to establish a position in assets having a much greater value. If you are uncomfortable with this level of risk, you should not trade security futures contracts.

General Risks

37)Trading Futures involves risk and may result in potentially unlimited losses that are greater than the amount you deposited with your broker. As with any high risk financial product, you should not risk any funds that you cannot afford to lose, such as your retirement savings, medical and other emergency funds, funds set aside for purposes such as education or home ownership, proceeds from student loans or mortgages, or funds required to meet your living expenses.

38)Be cautious of claims that you can make large profits from trading Futures. Although the high degree of leverage in security futures contracts can result in large and immediate gains, it can also result in large and immediate losses. As with any financial product, there is no such thing as a “sure winner.”

39)Because of the leverage involved and the nature of Futures Trading, you may feel the effects of your losses immediately. Gains and losses in Futures Trading are credited or debited to your account, at a minimum, on a daily basis. If movements in the markets for Futures Trading or the underlying currency pair decrease the value of your positions in security futures contracts, you may be required to have or make additional funds available to your carrying firm as margin. If your account is under the minimum margin requirements set by the exchange or the brokerage firm, your position may be liquidated at a loss, and you will be liable for the deficit, if any, in your account. Margin requirements are addressed in Section 4.

40)Under certain market conditions, it may be difficult or impossible to liquidate a position. Generally, you must enter into an offsetting transaction in order to liquidate a position in a Futures Trading. If you cannot liquidate your position in Futures Trading, you may not be able to realize a gain in the value of your position or prevent losses from mounting. This inability to liquidate could occur, for example, if trading is halted due to unusual trading activity in either the Futures Trading or the underlying security; if trading is halted due to recent news events involving the issuer of the underlying security; if systems failures occur on an exchange or at the firm carrying your position; or if the position is on an illiquid market. Even if you can liquidate your position, you may be forced to do so at a price that involves a large loss.

41)Under certain market conditions, the prices of one currency pair may not maintain their customary or anticipated relationships to the prices of the other currency pair in Futures Trading . These pricing disparities could occur, for example, when the market for the particular currency pair is illiquid and a lot more reason where prices may move contrary to traditional combinations.

42)You may experience losses due to systems failures. As with any financial transaction, you may experience losses if your orders for some currency pair cannot be executed normally due to systems failures on a regulated exchange or at the brokerage firm carrying your position. Your losses may be greater if the brokerage firm carrying your position does not have adequate back-up systems or procedures.

43)All Futures Trading instruments involve risk, and there is no trading strategy that can eliminate it. Strategies using combinations of positions, such as spreads, may be as risky as outright long or short positions. Trading in futures instruments requires knowledge of both the securities and the futures markets and lot more other factors.

44)Day trading strategies involving Futures Trading and other products pose special risks. As with any financial product, persons who seek to purchase and sell the same Futures Trading in the course of a day to profit from intra-day price movements ("day traders") face a number of special risks, including substantial commissions, exposure to leverage, and competition with professional traders. You should thoroughly understand these risks and have appropriate experience before engaging in day trading. The special risks for day traders are discussed more fully in Section 7.

45)Placing contingent orders, if permitted, such as "stop-loss" or "stop-limit" orders, will not necessarily limit your losses to the intended amount. Some regulated exchanges may permit you to enter into stop-loss or stop-limit orders for security futures contracts, which are intended to limit your exposure to losses due to market fluctuations. However, market conditions may make it impossible to execute the order or to get the stop price.

46)You should thoroughly read and understand the customer account agreement with your brokerage firm before entering into any transactions in Futures Trading. Firms that allow customers to trade Futures Trading in either Regular/standard or Mini Contracts, or both, are required to disclose to customers the differences in regular and mini contracts In short mini accounts are almost 1/10 in value with respect to contract sized and hence point values than the standard accounts but trading in mini account doesn’t mean there is no more risk. It simply reduces risk factor by 1/10 due to size of trade and does not eliminate the risk involved in Futures Trading

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 might be liable. These charges will affect your net profit (if any) or increase your loss.

47) Transactions in other jurisdictions

Transactions on currencies 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.

48) Currency Risks

The profit and loss in transactions in foreign currency-denominated 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.

Disclaimers:

  • Internet and System failures: Since ZARA COMMODITIES 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, delays, when you trade on-line (via Internet).  Furthermore, any losses or foregone profits in Trader's account are the responsibility of the Trader and not ZARA COMMODITIES, even if software, hardware, or other system failures or errors contributed to such losses or foregone profits. 
     
  • Market risks and on-line trading: Trading currencies 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 currency trading.
     
  • 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 ZARA COMMODITIES for trades executed by means of the Trader’s password even if such use may be wrongful.
     
  • Quoting errors:  Should quoting errors occur due to a dealer’s mistype of a quote, errors in an automatic price feed, or an erroneous price quote from a dealer, such as but not limited to a wrong big figure quote, ZARA COMMODITIES will not be liable for the resulting errors in account balances. ZARA COMMODITIES 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 currency at the time such an error occurred.

Section 2 - Description of a Futures Trading Contract

A Futures Trading contract is a legally binding agreement between two parties to purchase or sell in the particular currency pair, at a certain price. A person who buys a future currency pair enters into a contract to purchase is said to be "long" the pair. A person who sells a futures currency pair enters into a contract to sell the pair and is said to be "short" the pair. In order to enter into a futures currency trading on margin, you must deposit funds with your brokerage firm equal to a specified percentage (usually at least 20 percent) of the current market value of the contract as a performance bond. Moreover, all futures currency pairs are marked-to-market at least daily, usually after the close of trading, as described in Section 3 of this document. At that time, the account of each buyer and seller reflects the amount of any gain or loss on the open based on the contract price established at the end of the day for 44 purposes (the "daily settlement price").

An open position, either a long or short position, is closed or liquidated by entering into an offsetting transaction (i.e., an equal and opposite transaction to the one that opened the position) prior to the contract expiration. Traditionally, most futures contracts are liquidated prior to expiration through an offsetting transaction and, thus, holders do not incur a settlement obligation.

Section 3 - Margin and Leverage:

When a broker-dealer lends a customer part of the funds needed to purchase a product or instrument, the term "margin" refers to the amount of cash, or down payment, the customer is required to deposit. An open futures pair position has no value as collateral for a loan. Because of the potential for a loss as a result of the daily marked-to-market process, however, a margin deposit is required of each party to a contract. This required margin deposit also is referred to as a "performance bond."

In the first instance, margin requirements for contracts are set by the marker maker, subject to certain minimums set by law. The basic margin requirement is approximately 2% of the current value of the security futures contract, although some instruments may have variable margin requirements as set by PMEX time to time. Requests for additional margin are known as "margin calls." Both buyer and seller must individually deposit the required margin to their respective accounts.

It is important to understand that individual brokerage firms can, and in many cases do, require margin that is higher than the usual. Additionally, margin requirements may vary from brokerage firm to brokerage firm. Furthermore, a brokerage firm can increase its "house" margin requirements at any time without providing advance notice, and such increases could result in a margin call.

For example, some firms may require margin to be deposited the business day following the day of a deficiency, or some firms may even require deposit on the same day. Some firms may require margin to be on deposit in the account before they will accept an order for a security futures contract. Additionally, brokerage firms may have special requirements as to how margin calls are to be met, such as requiring a wire transfer from a bank, or deposit of a certified or cashier's check. You should thoroughly read and understand the customer agreement with your brokerage firm before entering into any transactions in security futures contracts.

If through the daily cash settlement process, losses in the account of a security futures contract participant reduce the funds on deposit (or equity) below the maintenance margin level (or the firm's higher "house" requirement), the brokerage firm will require that additional funds be deposited.

If additional margin is not deposited in accordance with the firm's policies, the firm can liquidate your position in security futures contracts or sell assets in any of your accounts at the firm to cover the margin deficiency. You remain responsible for any shortfall in the account after such liquidations or sales. Unless provided otherwise in your customer agreement or by applicable law, you are not entitled to choose which futures contracts, other securities or other assets are liquidated or sold to meet a margin call or to obtain an extension of time to meet a margin call.

Brokerage firms generally reserve the right to liquidate a customer's contract positions or sell customer assets to meet a margin call at any time without contacting the customer. Brokerage firms may also enter into equivalent but opposite positions for your account in order to manage the risk created by a margin call. Some customers mistakenly believe that a firm is required to contact them for a margin call to be valid, and that the firm is not allowed to liquidate securities or other assets in their accounts to meet a margin call unless the firm has contacted them first. This is not the case. While most firms notify their customers of margin calls and allow some time for deposit of additional margin, they are not required to do so. Even if a firm has notified a customer of a margin call and set a specific due date for a margin deposit, the firm can still take action as necessary to protect its financial interests, including the immediate liquidation of positions without advance notification to the customer.

Section 4 - Customer Account Protections:

Account: Your brokerage firm may or may not permit you to choose the types of account in which your positions in Futures Trading contracts will be held. The protections for funds deposited or earned by customers in connection with trading in Futures differ depending on whether the positions are carried in a Regular account or a Mini account.

Your brokerage firm must tell you whether your Futures Trading positions will be held in a standard account or a mini account. If your brokerage firm gives you a choice, it must tell you what you have to do to make the choice and which type of account will be used if you fail to do so. You should understand that certain safety protections for your account will depend on whether it is a standard account or a mini account.

Section 5 - Special Risks for Day Traders:

Certain traders who pursue a day trading strategy may seek to use Futures Trading as part of their trading activity. Whether day trading in Futures Trading or other securities, investors engaging in a day trading strategy face a number of risks.

Day trading in futures currencies contracts requires in-depth knowledge of the currency markets and of trading techniques and strategies. In attempting to profit through day trading, you will compete with professional traders who are knowledgeable and sophisticated in these markets. You should have appropriate experience before engaging in day trading.

Day trading in futures currencies can result in substantial spread paid, even if there is no commission charges. The more trades you make, the higher your total cost will be. The total cost you pay will add to your losses and reduce your profits.

Day trading can be extremely risky. Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for day trading. In particular, you should not fund day trading activities with funds that you cannot afford to lose.

Consent – Delivery of Statements by Electronic Media

In REGARD OF PROVISION OF DAILY STATEMENTS THROUGH ALL POSIBLE ELECTRONIC MEANS, Zara Commodities now offers two alternatives to receiving daily statements:1.Via e-MAIL You may choose to receive your customer account statements (monthly and daily statements) by e-mail or internet access. Please note that if you agree to such delivery, Zara Commodities will transmit your account statements to you only via electronic media.2.Live Access Via Online Trading Platform Customers can view live status of the account any time using online trading platform which comprises the record of all the transactions, deposits, withdrawals and adjustments from the day of the account opening and it is the most current and suitable way to access the statements of their trading activities as per their desired periods of time.Until further notice, monthly statements will continue to be sent to all customers via regular mail at no additional cost to the customer upon request.You acknowledge your statement is deemed received when made available to you by Zara Commodities, regardless of whether you actually accessed the statement. You also acknowledge that you are responsible for alerting Zara Commodities to any change in your e-mail address and completing a new consent form with the new information.

Acknowledgement of Receipt of Risk Disclosure Statement

Customer Acknowledgement:

Trader Information (To be completed for each participant in the account, individually, jointly). For the purpose of this document the term "Trader" always refers to the entity for whom this application has been made, regardless of legal description.

NameFull Name (First, Last)
Street Address
Apartment/Suite
City
Postal Code
Telephone NumberHome/Mob
Telephone NumberOffice
Date of Birthday-month-year
Online Account Information
Account password(4 to 8 symbols
Introducing Broker nameIf any
Account Currency:
(currency in which you wish to maintain your account balance, although base currency for profit/ Loss calculation will remain US Dollar on the online trading platform)
Select One
PAK RUPEES AccountForeign Currency Account
Agree?
What is your experience trading in Years?
What is your total estimated annual income?
What is your total estimated net worth?
Will any other person(s) control, manage, or direct the trading in this account?
YesNo
Agree?
*ZARA COMMODITIES Financial Ltd. ("ZARA COMMODITIES") does not accept clients from the United States. ZARA COMMODITIES’s services are not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. It is the responsibility of the customer to ascertain the terms of and comply with any local law or regulation to which they are subject
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