Risk Warning

THE RISK ASSOCIATED WITH TRADING COMMODITY FUTURES, OPTIONS, CFDs, SPREAD BETTING, AND FOREIGN EXCHANGE (“FOREX”) IS SIGNIFICANT. THE HIGH DEGREE OF LEVERAGE INVOLVED IN THESE MARKETS CAN WORK BOTH FOR AND AGAINST YOU.

THIS LEVERAGE CAN LEAD TO SUBSTANTIAL LOSSES. YOU SHOULD CAREFULLY EVALUATE WHETHER TRADING IN COMMODITY FUTURES, OPTIONS, CFDs, SPREAD BETTING, AND FOREX IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL SITUATION. IF YOU HAVE ANY DOUBTS, SEEK PROFESSIONAL ADVICE.

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS. MANAGED ACCOUNTS MAY BE SUBJECT TO SIGNIFICANT COMMISSIONS AND ADVISORY FEES, WHICH CAN ERODE ASSETS IF NOT OFFSET BY SUBSTANTIAL TRADING PROFITS.

EACH BROKER OR ADVISOR (“CTA”) IS REQUIRED BY REGULATORY AUTHORITIES TO PROVIDE A RISK DISCLOSURE DOCUMENT TO PROSPECTIVE CLIENTS. THIS DOCUMENT OUTLINES FEES, CONFLICTS OF INTEREST, AND OTHER RISKS. THE FULL SCOPE OF RISKS ASSOCIATED WITH TRADING COMMODITY FUTURES, OPTIONS, CFDs, SPREAD BETTING, AND FOREX CANNOT BE FULLY ADDRESSED IN THIS STATEMENT.

INVESTMENT DECISIONS SHOULD NOT BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENTS FROM EACH CTA/BROKER YOU ARE CONSIDERING. REQUESTING A DISCLOSURE DOCUMENT IS FREE AND PLACES YOU UNDER NO OBLIGATION. REGULATORS DO NOT ENDORSE THE MERITS OF PARTICIPATING IN THESE PROGRAMS NOR THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. ADDITIONAL DISCLOSURE STATEMENTS MUST BE PROVIDED BEFORE YOU CAN OPEN AN ACCOUNT.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR INVESTMENT DECISIONS SOLELY ON PAST PERFORMANCE. IN MAKING AN INVESTMENT DECISION, YOU MUST ALSO EXAMINE THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT, INCLUDING THE RISKS INVOLVED.

TRADING ON MARGIN INVOLVES HIGH RISK AND IS NOT SUITABLE FOR ALL INVESTORS. THE HIGH DEGREE OF LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TRADE, YOU SHOULD CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCE, AND RISK APPETITE. HIGH REWARD IS ALWAYS ASSOCIATED WITH HIGH RISK. MARKET OR TRADE SPECULATION THAT CAN YIELD HIGH RETURNS IS SUBJECT TO HIGH RISK. ONLY SURPLUS FUNDS SHOULD BE USED FOR TRADING, AND ANYONE WITHOUT SUCH FUNDS SHOULD NOT PARTICIPATE IN TRADING FOREIGN CURRENCIES, COMMODITIES, FUTURES, OPTIONS, CFDs, OR SPREAD BETTING. TRADING IS NOT SUITABLE FOR EVERYONE.

TRADING COMMODITY FUTURES, OPTIONS, CFDs, SPREAD BETTING, AND FOREIGN EXCHANGE (“FOREX”) INVOLVES HIGH RISKS AND CAN RESULT IN THE COMPLETE LOSS OF YOUR FUNDS.