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As a broker for nine years a couple of not nice things happened. Some
cost my clients one cost me. None went against the firm. A
relationship with Tradestation might get out of hand. A situation
where the software makes trades you would not make and stops do not
happen. Then you would find yourself up the creek. Not Tradestation.
Not a big risk if you account is not to large and Tradestation's
system limits risk on their end.
Just something to think about.
Jimmy
Wayne,
i've been trading with TS for over 5 years, without legal problems...
lawyers on one side will lock up their clients's position, lawyers on the
other will advise you against accepting it.
if you let lawyers stop you from entering business arrangements because of
the legalese of the contracts involved, you will never enter any.
later on, you can sue, and pay the lawyers yet again...(who will advise you
that you were stupid to have agreed with the terms of the contract) :)
----- Original Message -----
From: "Wayne Mathews" <wayne@xxxxxxxxx>
To: "=omega list" <omega-list@xxxxxxxxxx>
Sent: Thursday, August 30, 2007 3:01 PM
Subject: TradeStation Securities Account Agreement
>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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