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Not standard for a Brokerage account. At least not when I was a
broker last in 1990. They need that language in case you have some
automatic trades or otherwise go against you and it becomes a pissing
contest between the two of you. I say the two of you because I will
never be on either side of that relationship. I would perhaps use
their program at a higher cost or have an account and never trade with
them, but trade elsewhere automatically or not.
Then again if you only have a small net worth in the world it might be
ok.
Jimmy
"They can kill you but they can't eat you."
I am thinking about signing up for TS 8.3 as I now only use TS 2K. I
have just read TradStation’s agreements for an account and they are
scary! There are numerous references to holding TS harmless and
indemnifying them against any claim, damages, loss, liability ... caused
by..you.. See page 7( 11). in their Tradestation Technologies
Subscription Agreement.
In the “Online Transfer Authorization Agreement” , page 8(g) “you
appoint Tradestation Securities with full power as your true and lawful
attorney-in-fact... for the purpose of perfecting the security interest
granted in this agreement ..” and the same language on page 12(34).
Or how about page 15(41). TS ..”may use your name, address, social
security number, date of birth, home telephone number and/or other
biographical or personal information about you ...for any valid or
legitimate business purpose. ... You further agree to provide
Tradestation securities, on request, with such additional information
...as may be required by Tradestation securities ....”
Is this boiler plate legalese or should one be concerned about the
one-sidedness of this language?
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