Risk Disclosure

THE RISK OF TRADING FOREIGN EXCHANGE (“FOREX”), COMMODITY FUTURES, OPTIONS, OPTIONS CFD’S AND SPREAD BETTING IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH FOREX, COMMODITY FUTURES, OPTIONS, OPTIONS CFD’S AND SPREAD BETTING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE IN LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD CAREFULLY CONSIDER WHETHERFOREX, COMMODITY FUTURES, OPTIONS, OPTIONS CFD’S AND SPREAD BETTING ARE SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IF YOU ARE UNSURE YOU SHOULD SEEK PROFESSIONAL ADVICE. PAST PEFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS.

IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH BROKER/ADVISOR (“CTA”) IS REQUIRED BY THE REGULATOR TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS.

THE FULL RISK OF FOREX TRADING, COMMODITY FUTURES, OPTIONS, OPTIONS CFD’S AND SPREAD BETTING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE BROKERS/CTAS IN WHICH YOU MAY HAVE AN INTEREST.REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE REGULATORY BODY HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.

FOREIGN EXCHANGE TRADING ON MARGIN INVOLVES CONSIDERABLE EXPOSURE TO HIGH RISK, AND MAY NOT BE SUITABLE FOR ALL INVESTORS. THE HIGH LEVEL OF LEVERAGE IN FOREX TRADING MAY WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TAKE PART IN THE FOREIGN EXCHANGE MARKET, PLEASE CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCEAND RISK APETITE. DO NOT INVEST MORE MONEY THAN YOU CAN AFFORD TO LOSE. BEFORE INVESTING IN FOREX, OPTIONS, CFD’S, COMMODITY FUTURES AND SPREAD BETTING YOU SHOULD BE FULLY AWARE OF ALL THE RISKS ASSOCIATED. IF YOU HAVE ANY DOUBTS PLEASE BE IN OTUCH WITH A FINANCIAL ADVISOR.

TRADING FOREX, OPTIONS, CFD’S, COMMODITY FUTURES AND SPREAD BETTING IS HIGH RISK AND CAN RESULT IN A COMPLETE LOSS OF YOUR INVETSMENTS.