Legal notes about EnFoid Proprietary Trading

Being a Proprietary Trader comes with rights & responsibilities.

We will outline most of the regulations, legal aspects, and other things you need to know.
for a Clear view of what you will get into download the Sample Contract with all the fine print

Your Relationship with EnFoid

As a valued trader for EnFoid, you will be working on an independent contract basis and responsible for your hours and performance. You will be in control of what you can earn and the time you put in each month. All we ask is that you operate within rules we set out.

We do not provide medical benefits, company car, paid holidays, internet, pension, or any other coverage of costs relating to your business.

  • How much will you get paid?
    You will receive 50% of the Profit you made on the assigned account.

  • When do you getting paid?
    Profit calculations are done 30 days after the first trade, and every following 30 days after.
    Amounts will take about 15 days to settle in your EnFoid Account. And can be freely accessed by you after.

  • Transferring Funds?
    If you request a withdrawal or transfer of funds before the current period (week) is completed, the transfer will be initiated after interests being paid (usually on the same day).

  • Funds can be transferred via the methods outlined on the Transfers page,
    such as PayPal, Bank Wire, Crypto wallets, PromptPay

  • what Currency you getting paid in ?
    You will get paid in the Currency your EnFoid Account is set up.
    If your Trading account is in another currency, we will convert the profits to a favorable rate on deposit.

  • Purpose of EnFoid Account?
    The EnFoid account is connected to our central accounting and gives you a way to have real-time insight into your actual and pending finance situation with EnFoid.

  • Funds that remain in your EnFoid Account?
    EnFoid Accounts are Lending based, that means all funds residing there are your Property at all times, if you do not withdraw funds immediately, the total balance of your EnFoid Account will be subject to a 9.55% Interest p.a.

    You can see at any given time how much money you owe in your EnFoid Account. A detailed Ledger is also available at all times to check all transactions that have been made.

  • Fees?
    EnFoid does not charge any fees for what you are doing,
    however, some Transfer Types may have outgoing and incoming fees:
    Incoming fees have to be covered by the Trader, where we do cover some of the outgoing fees, see the Price-list for more details

EnFoid has no right to take any funds from your EnFoid Account without your explicit confirmation to do so.

EnFoid Account vs your Trading Account

Your EnFoid account is lending based, which means that the money is yours, and we are obligated to pay you interest.

  • There is no legal or technical connection between the funds you trade and the funds you have earned in the EnFoid account.
  • Everything showing as your balance in the EnFoid account is legally your money.
  • We have no legal right to use or take your balance to cover losses.
  • The funds in your EnFoid account are not exposed to any speculative activity.
  • The moment a deposit or payment of profits is settled within your EnFoid account, you become the legal owner.
  • As long as funds remain in your EnFoid account, the company is required to pay you an interest rate of 9.55% p.a.
Even in the case of trading account suspension, your EnFoid account will still be active, interest will be paid.
You can deposit or withdraw funds at any time.

Taxes

You are a Contractor, the Financial gains you produce are not your gains but of our Company.
with receiving a commission or payment for Services you are not subject to any Capital Gains taxes

however you may need to pay Income taxes in your area according to local laws.

EnFoid does not deduct any taxes, except of Singaporean local taxes for sales/goods (such as GST)

Financial Services Activities

EnFoid is not a financial advisor or fund manager in any way.
All live transactions that are executed on trading accounts are conducted solely by EnFoid or Partners of EnFoid.

Any activity in Client Name would require regulation and license for the person doing it and the Companies supporting it. (eg. PAMM/MAM or Trading Clients money in their name/Managed accounts) EnFoid does none of these things!.