AUTHORIZATION TO TRADE. GFX is authorized to purchase and sell FOREX for Customer’s account(s) with a counter party bank or sophisticated institutions or participants in accordance with Customer’s oral or written or computer instructions, subject to the terms of this Agreement and all annexes hereto. Unless instructed by Client to the contrary in writing, GFX is authorized to execute all orders with such banking institutions, counter party, bank, or sophisticated institutional participants as GFX deems appropriate. Customer is obligated to keep passwords secret and solely responsible to ensure that third parties do not obtain access to the password or GFX's trading facilities. Customer agrees to be conclusively responsible for any instruction received electronically that is identified with Customer’s password and account number and for any electronic, oral and written instruction (including, but limited to, any order) to GFX from persons GFX, in its sole judgment, believes are apparently authorized by Customer. If Customer’s account is titled as a joint account, GFX is authorized to act on the instructions of any one owner, without further inquiry, with regard to trading in the account and the disposition of any and all assets in the account. GFX shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any actions taken or failed to be taken by GFX in reliance on any such instructions or on the apparent authority of any such persons.
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