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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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