Document GOVERNANCE
Owner STOICFX (Pty) Ltd
Policy Name MAM/PAMM Terms and Conditions
Date Adopted 06/05/2025
Date Last Updated 06/05/2025
Version v00
1. Introduction
1.1 Please read these Multi-Account Manager (“MAM”) and Percentage Allocation Money Management (“PAMM”) Terms and Condition for STOICFX (PTY) LTD (hereinafter referred to as the “Terms” and/or the “Agreement” for) carefully before using the services described herein.
1.2 These Terms govern your participation in the MAM and PAMM program(s) offered by STOICFX (PTY) LTD holding registration number 2021/116238/07 (hereinafter referred to as “STOICFX”, “We”, and/or “Us” respectively).
1.3 STOICFX is an authorised Financial Services Provider (FSP No. 53079) regulated by the Financial Sector Conduct Authority (“FSCA”) in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”). Clients participating in the MAM/PAMM Program acknowledge that they are contracting with a licensed entity subject to the regulatory framework of South Africa.
2. Definitions
For the purposes of this Agreement, the following terms shall have the meanings ascribed to them below, unless the context requires otherwise:
2.1 “Agreement” means these MAM/PAMM Terms and Conditions, including any annexes or amendments hereto.
2.2 “Authorised Financial Services Provider” or “FSP” means an entity licensed by the Financial Sector Conduct Authority (“FSCA”) to provide financial services in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”).
2.3 “Client” means any individual or legal entity who has opened a live trading account with STOICFX and has elected to participate in the MAM/PAMM Program.
2.4 “Company”, “STOICFX”, “We”, or “Us” refers to STOICFX (Pty) Ltd, a company duly incorporated and registered in the Republic of South Africa under registration number 2021/116238/07 and authorised as an FSP under license number 53079.
2.5 “FIC Act” means the Financial Intelligence Centre Act, 2001 of South Africa, which sets out the obligations relating to anti-money laundering, counter-terrorism financing, and client due diligence.
2.6 “LPOA” or “Limited Power of Attorney” means the legal document executed by the Client authorising the Money Manager to place and manage trades on the Client’s behalf under the MAM/PAMM Program.
2.7 “MAM” or “Multi-Account Manager” means a software-based allocation module that enables the Money Manager to execute trades from a single Master Account across multiple Client Sub-Accounts.
2.8 “Master Account” refers to the trading account held by the Money Manager, from which trades are initiated and then allocated proportionally to Client Sub-Accounts.
2.9 “Money Manager” means the individual or entity appointed by Clients under the MAM/PAMM Program to trade on their behalf using the Master Account, subject to the terms of the LPOA.
2.10 “PAMM” or “Percentage Allocation Management Module” means an automated system in which the Money Manager’s trading decisions are reflected proportionally across participating Client Sub-Accounts based on their account equity or balance.
2.11 “Program” or “MAM/PAMM Program” means the trading arrangement provided by STOICFX which allows Clients to allocate the management of their trading accounts to a third-party Money Manager via MAM or PAMM allocation methods.
2.12 “Sub-Account” means the Client’s individual trading account linked to the Master Account under the MAM/PAMM Program, into which trades are allocated.
2.13 “POPIA” means the Protection of Personal Information Act, 2013 of South Africa, which regulates the processing of personal information.
2.14 “Terms” means these MAM/PAMM Terms and Conditions, including any schedules or updates, governing the use of the MAM/PAMM Program offered by STOICFX.
3. Account Registration
The Company offers the following allocation methods:
- Equity Lot Share (“ELS”):
Trades are executed in Sub-Accounts proportional to their equity ratio relative to the Master Account at the same price;
- Proportional by Balance/Equity:
Trade volumes are automatically calculated based on Sub-Account balance or equity relative to the Master Account.
3.2 Clients may select their preferred method during onboarding, subject to the Money Manager’s approval.
4. Nature of the MAM/PAMM Relationship
4.1 Participation in the MAM/PAMM Program is conducted on an execution-only basis.
4.2 STOICFX does not provide discretionary investment advice, portfolio management services, or any form of financial advice under the FAIS Act in relation to this program.
4.3 Clients appoint a third-party Money Manager at their own discretion and risk.
4.4 Participation requires the client’s execution of a Limited Power of Attorney (“LPOA”) authorising the Money Manager to place trades on the client’s behalf within the scope of the MAM/PAMM Program. This authorisation is revocable by the client at any time, subject to the terms of the agreement.
5. Client Responsibilities
5.1 Clients participating in the MAM/PAMM Program are required to:
- Submit accurate and complete KYC documentation in accordance with the Company’s onboarding procedures and regulatory requirements under South African law;
- Duly sign a Limited Power of Attorney (“LPOA”) authorizing the appointed Money Manager to execute trades on their behalf through the Master Account;
- Fully understand and accept the risks associated with leveraged forex and CFD trading, including risks specific to the selected trade allocation method (e.g., Lot Allocation or Percentage Allocation); and
- Regularly monitor their Sub-Account activity via the client portal and promptly report any discrepancies, suspicious activity, or errors to the Company’s support team.
⦁ 5.2 Verification and Onboarding
All Clients must be verified in accordance with the Financial Intelligence Centre Act, 2001 (“FIC Act”) before participating in the MAM/PAMM Program. This includes full customer due diligence (CDD), identity verification, and source of funds checks. Participation is subject to the successful completion of the onboarding process.
6. Money Manager Responsibilities
6.1 The Money Manager appointed under the MAM/PAMM Program is required to:
- Execute all trading activity in the Master Account with due diligence and care, always prioritizing the best interests of the participating clients;
- Ensure fair, proportional, and transparent allocation of trades to Sub-Accounts according to the selected trade allocation methodology;
- Maintain proper records of trading activity and make performance information reasonably available to clients on a regular basis;
- Avoid conflicts of interest and act in a professional and ethical manner in accordance with industry standards and applicable financial regulations.
6.2 Segregation of Funds and Trade Allocation
Client funds are maintained in segregated accounts in accordance with FSCA requirements. Each client retains full legal ownership of their trading account and funds, even while linked to a MAM/PAMM master strategy. Profits and losses are allocated proportionally based on the equity and performance metrics of the trading strategy.
Fees and Charges
7.1 The Company and/or the appointed Money Manager may levy the following fees in relation to the MAM/PAMM Program:
- Management Fee: A fixed percentage of the client’s Sub-Account balance, charged on a monthly basis, which compensates the Money Manager for managing the trading activity.
- Performance Fee: A percentage of net profits generated in the client’s Sub-Account, charged at the end of each performance period. The high-water mark principle may apply.
7.2 Clients will be provided with full details of all applicable fees and calculation methodologies in the client agreement and/or MAM Fee Disclosure Form. Fees may vary depending on the specific allocation method and Money Manager agreement.
8 Risk Disclosure
8.1 Participation in the MAM/PAMM Program involves substantial risk, and clients are strongly advised to review this risk disclosure before opting in:
- There is a risk of losing the entire invested capital, including due to market fluctuations and leverage;
- Trade outcomes are affected by market volatility, liquidity conditions, and geopolitical events;
- Technical or platform-related issues may result in delayed or failed trade execution or allocation;
- Neither the Company nor the Money Manager shall be held liable for losses incurred in the Sub-Account unless such losses result from gross negligence, willful misconduct, or fraud.
8.2 Clients should seek independent financial advice if they are uncertain about the suitability of MAM/PAMM trading.
8.3 STOICFX maintains a Conflicts of Interest Policy in line with the FAIS Act. Where any relationship exists between the Money Manager and STOICFX, this will be disclosed to the client. The company is committed to managing conflicts fairly and transparently.
8.4 Past performance of a Money Manager or trading strategy is not indicative of future results. No guarantees of returns or performance are made or implied. All trading is subject to market risk, and losses may exceed initial deposits.
8.5 Client Acknowledgment
- By participating in the MAM/PAMM Program, the Client confirms that they:
- Have read and understood the Terms and Conditions;
- Accept all risks associated with the program;
- Understand that STOICFX does not act as a portfolio manager or advisor in this arrangement;
- Have the financial capacity to bear losses associated with leveraged trading.
9. Termination
9.1 Clients may choose to terminate their participation in the MAM/PAMM Program at any time by submitting a written termination request to the Company with a minimum notice period of five (5) business days.
9.2 The Company reserves the right to terminate a client’s participation immediately if:
- There is a breach of these Terms and Conditions;
- The client fails to meet compliance or regulatory requirements;
- Continued participation is deemed to pose a risk to the Company or other clients.
9.3 Following termination, all open positions in the client’s Sub-Account will be closed at the next available opportunity (if applicable), and any remaining balance will be returned in accordance with the Company’s withdrawal procedures.
10. Confidentiality
10.1 The Company will collect, store, and process client personal and financial information strictly in accordance with the Protection of Personal Information Act (“POPIA”) and other applicable data protection laws.
10.2 Clients agree not to share, reproduce, or disclose any proprietary information or internal processes relating to the MAM/PAMM Program, including trade strategies, allocation methods, or performance data, unless expressly authorized in writing by the Company.
11. Governing Law and Jurisdiction
⦁ 11.1 These Terms and Conditions are governed by and construed in accordance with the laws of the Republic of South Africa.
⦁ 11.2 Any disputes or claims arising from or related to participation in the MAM/PAMM Program shall be subject to the exclusive jurisdiction of the competent courts of South Africa, unless otherwise agreed in writing by both parties.
12. Contact Us
12.1 If you have any feedback, questions, and/or complaints, please feel free to contact us via email at [email protected]
12.2 When you contact STOICFX, kindly provide us with your full name, address, account details, and any other information we may need to identify you, your STOICFX Account, and/or the transaction regarding which you have feedback, questions, and/or complaints.
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