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Commodity Futures Trading Commission RISK DISCLOSURE STATEMENT

The risk of loss in trading foreign exchange can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial situation. The high degree of leverage that is often obtainable in foreign exchange trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains. In some cases, managed foreign exchange accounts are subject to substantial charges for management and advisory fees. It may be necessary for those account that are subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets.

The regulations of the Commodity Futures Trading Commission (CFTC) require that prospective customers of an Futures Commission Merchant (FCM) receive a disclosure document when they are solicited to enter into an agreement whereby the FCM will direct or guide the client's trading and that certain risk factors are highlighted. This document is readily accessible in the application documents on the next page. This brief statement cannot disclose all of the risks and other significant aspects of the foreign exchange markets. Therefore, you should proceed directly to the disclosure document and study it carefully to determine whether such trading is appropriate for you in light of your financial situation. You are encouraged to access the disclosure document by the application document on the next page.

You will not incur any charges by accessing the disclosure document. You may also request delivery of a hard copy of the disclosure document, which will also be provided to you at no additional cost. The CFTC has not reviewed or examined the merits of participating in any trading programs nor on the adequacy or accuracy of any of these disclosure documents. Other disclosure statements are required to be provided to you before a managed foreign exchange account may be opened for you.

Click on the link below to view information about the Forex Managed Account application.

I have read and understood the above statement and wish to proceed.