Risk Disclosure and Warnings Notice
PART A – RISKS ASSOCIATED WITH ALL FINANCIAL INSTRUMENTS
1. Introduction
1.1 This Risk Disclosure and Warning Notice (“Notice”) is provided to you (our Client and prospective Client) by FINSAI TRADE LTD, a private Company limited by share incorporated and validly existing under the laws by the International Services Authority of Nauru with license number 052943-033 (“the Company”, “we”).
1.2. All Clients and prospective Clients should read carefully the following risk disclosures and warnings contained in this Notice, before applying to the Company for a Trading Account and before they begin to accept any services from the Company. However, it is noted that this document cannot and does not disclose or explain all of the risks and other significant aspects involved in dealing in the Financial Instruments offered by the Company. This notice was designed to explain in general terms the nature of the risks involved when dealing in Financial Instruments on a fair and non-misleading basis.
1.3. The Company executes Client Orders in relation to Contracts for Differences (“CFDs”) in stocks, commodities, indices and currency pairs (FX), cryptocurrencies, etc. The above products and services are intended for the Client target market of Small to large scale investors with knowledge and experience of the industry who feel comfortable trading complex financial markets and who want to trade with money they can afford to lose and have high risk tolerance. Prospective Clients will understand the impact of, and risks associated with margin trading, its key concepts along with leverage and the potential to bear losses of the entire invested capital.
2. Charges and Taxes
2.1. The Provision of Services by the Company to the Client may be subject to fees, available on the Company’s website www.finsaitrade.com (“the Website”). Before the Client begins to trade, he/she should obtain details of all fees, commissions, and charges for which the Client may be liable. It is the Client’s responsibility to check for any changes in the charges.
2.2. If any charges are not expressed in monetary terms (but, for example, as a percentage or formula), the Client should ensure that he/she understands what such charges are likely to amount to.
2.3. The Company may change its costs and associated charges at any time, according to the provisions of the Client Agreement found on the Company’s Website.
2.4. There is a risk that the Client’s trades in any financial instruments may be or become subject to tax and/ or any other duty for example because of changes in legislation or his/her personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. The Company does not offer tax advice and recommends that the Client seek advice from a competent tax professional if the Client has any questions.
2.5. The Client is responsible for any taxes and/or any other duty which may accrue in respect of his/her trades.
2.6. It is noted that taxes are subject to change without notice.
2.7. If required by applicable law, the Company shall deduct at source from any payments due to the Client such amounts as are required by the tax authorities to be deducted in accordance with applicable law.
2.8. It is possible that other costs, including taxes, relating to Transactions carried out on the Trading Platform may arise for which the Client is liable, and which are neither paid via us nor imposed by the Company. Although it is the Client’s sole and entire responsibility to account for tax due and without derogating from this, the Client agrees that the Company may deduct tax, as may be required by the applicable law, with respect to his trading activity on the Trading Platform. The Client is aware that the Company has a right of set-off against any amounts in the Client’s Trading Account with respect to such tax deductions.
2.9. It is noted that the Company’s prices in relation to CFDs trading are set/quoted in accordance with the Company’s internal. It is noted that Company’s prices may be different from prices reported elsewhere. The prices displayed on the Company’s Trading Platform reflects the last known available price at the moment prior to placing any Order, however, the actual execution price of the Order may differ, in accordance with the Company’s internal policy and Client Agreement. As such, the price that the Client receives when he opens or closes a position may not directly correspond to real time market levels at the point in time at which the sale of the CFD occurs.
3. Third Party Risks
3.1. The Company may pass money received from the Client to a third party (e.g. an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty) to hold or control in order to affect a Transaction through or with that person or to satisfy the Client’s obligation to provide collateral (e.g. initial margin requirement) in respect of a Transaction. The Company has no responsibility for any acts or omissions of any third party to whom it will pass money received from the Client.
3.2. The financial institution to whom the Company will pass Client money may hold it in an omnibus account. In the event of the insolvency or any other analogous proceedings in relation to that financial institution, the Company may only have an unsecured claim against the financial institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the financial institution is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses. In general, accounts held with institutions, including omnibus account(s), face various risks, including the potential risk of being treated as one (1) account in case the financial institution in which the funds are held defaults.
3.3. The Company may deposit Client money with a depository who may have a security interest, lien, or right of set-off in relation to that money.
3.4. A bank or broker through whom the Company deals with could have interests contrary to the Client’s interests.
4. Insolvency
4.1. The Company’s insolvency or default or the insolvency or default of any parties involved in Transactions undertaken by the Company on the Client’s behalf (including without limitation brokers, execution venues and liquidity providers), may lead to positions being liquidated or closed out without the Client’s consent and as result the Client may suffer losses.
5. Technical Risks
5.1. The Client and not the Company shall be responsible for the risks of financial losses caused by failure, malfunction, interruption, disconnection, or malicious actions of information, communication, electricity, electronic or other systems, which are not the result of gross negligence or willful default of the Company.
5.2. If the Client undertakes transactions on an electronic system, he/she will be exposed to risks associated with the system including the failure of hardware, software, servers, communication lines and internet failure. The result of any such failure may be that his Order is either not executed according to Client’s instructions or it is not executed at all. The Company does not accept any liability in the case of such a failure.
5.3. The Client acknowledges that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.
5.4. At times of excessive deal flow the Client may have some difficulties to be connected over the phone or the Company’s Platform(s)/system(s), especially in fast market (for example, when key macroeconomic indicators or news are released).
5.5. The Client acknowledges that the internet may be subject to events which may affect his access to the Company’s Website and/or the Company’s Trading Platform(s)/system(s), including but not limited to interruptions or transmission blackouts, software and hardware failure, internet disconnection, public electricity network failures or hacker attacks. The Company is not responsible for any damages or losses resulting from such events which are beyond its reasonable control or for any other losses, costs, liabilities, or expenses (including, without limitation, loss of profit) which may result from the Client’s inability to access the Company’s Website and/or Trading System or delay or failure in sending orders or Transactions.
5.6. In connection with the use of computer equipment and data and voice communication networks, the Client bears the following risks amongst other risks in which cases the Company has no liability of any resulting loss:
(a) Power cut of the equipment on the side of the Client or the provider, or communication operator (including voice communication) that serves the Client.
(b) Physical damage (or destruction) of the communication channels used to link the Client and provider (communication operator), provider, and the trading or information server of the Client.
(c) Outage (unacceptably low quality) of communication via the channels used by the Client, or the channels used by the provider, or communication operator (including voice communication) that are used by the Client or the Company.
(d) Wrong or inconsistent with requirements settings of the Client Terminal.
(e) Untimely update of the Client Terminal.
(f) When carrying out transactions via the telephone (land or cell phone lines) voice communication, the Client runs the risk of problematic dialing, when trying to reach an employee of the Company due to communication quality issues and communication channel loads.
(g) The use of communication channels, hardware and software, generates the risk of non-reception of a message (including text messages) by the Client from the Company.
(h) Trading over the phone might be impeded by overload of connection.
(i) Malfunction or non-operability of the Trading Platform, which also includes the Client Terminal.
5.7. The Client may suffer financial losses caused by the materialization of the above risks, the Company accepts no responsibility or liability in the case of such a risk materializing and the Client shall be responsible for all related losses he may suffer.
6. Trading Platform
6.1. The Client is warned that when trading in an electronic Trading Platform he/she assumes risk of financial loss which may be a consequence of amongst other things:
(a) Failure of Client’s devices, software and poor quality of connection.
(b) The Company’s or Client’s hardware or software failure, malfunction or misuse.
(c) Improper work of Client’s equipment.
(d) Wrong setting of Client’s Terminal.
(e) Delayed updates of Client’s Terminal.
6.2. The Client acknowledges that only one Instruction is allowed to be in the queue at one time. Once the Client has sent an Instruction, a new Instruction can be given to the Company.
6.3. The Client acknowledges that the only reliable source of Quotes Flow information is that of the live Server’s Quotes Base. Quotes Base in the Client Terminal is not a reliable source of Quotes Flow information because the connection between the Client Terminal and the Server may be disrupted at some point and some of the Quotes simply may not reach the Client Terminal.
6.4. The Client acknowledges that when the Client closes the order placing/ deleting window or the position opening/closing window, an Instruction, which has been sent to the Server, shall not be cancelled.
6.5. Orders may be executed one at a time while being in the queue. Multiple orders from the same Trading Account at the same time may not be executed.
6.6. The Client acknowledges that when the Client closes the Order, it shall not be cancelled.
6.7. In case the Client has not received as a result of Force Majeure Events the execution of the previously sent Order but decides to repeat the Order, the Client shall accept the risk of making two Transactions instead of one.
6.8. The Client acknowledges that if a Pending Order in a CFD has already been executed but the Client sends an instruction to modify its level, the only instruction, that will be executed, is the instruction to modify Stop Loss and/or Take Profit levels on the position opened when the Pending Order triggered.
7. Force Majeure Events
7.1. In case of a Force Majeure Event the Company may not be in a position to arrange for the execution of Client Orders or fulfil its obligations under the Client Agreement with the Client found on the Company’s Website. As a result, the Client may suffer financial loss.
7.2. The Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing its obligations under the Client Agreement where such failure, interruption or delay is due to a Force Majeure Event.
8. Communication between the Client and the Company
8.1. The Client shall accept the risk of any financial losses caused by the fact that the Client has received with delay or has not received at all any notice from the Company.
8.2. The Client acknowledges that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.
8.3. The Company has no responsibility if unauthorized third persons obtain illegal access to information, including electronic addresses, electronic communication and personal data, access data when the above are transmitted between the Company and the Client or when using the internet or other network communication facilities, telephone, or any other electronic means.
8.4. The Client is fully responsible for the risks in respect of undelivered Company Online Trading System internal mail messages sent to the Client by the Company.
9 Abnormal Market Conditions.
9.1. The Client acknowledges that under Abnormal Market Conditions the period during which the Orders are executed may be extended or it may be impossible for Orders to be executed at declared prices or may not be executed at all.
9.2. Abnormal Market Conditions include but are not limited to times of rapid price fluctuations of the price, rises or falls in one trading session to such an extent that, under the rules of the relevant exchange, trading is suspended or restricted, or there is a lack of liquidity, or this may occur at the opening of trading sessions.
10. Foreign Currency
10.1. When a Financial Instrument is traded in a currency other than the currency of the Client’s country of residence and/or Trading Account, any changes in the exchange rates may have a negative effect on its value, price and performance and may lead to losses for the Client.
11. Regulatory and Legal Risk
11.1. A change in laws and regulations may materially impact a Financial Instrument and investments in a sector or market. A change in laws or regulations made by a government or a regulatory body or a decision reached by a judicial body can increase business operational costs, lessen investment attractiveness, change the competitive landscape and as such alter the profit possibilities of an investment. This risk is unpredictable and may vary from market to market.
PART B – GENERAL INFORMATION ON RISKS ASSOCIATED WITH SPECIFIC FINANCIAL
INSTRUMENTS
12. Introduction
Trading CFDs can put the Client’s capital at risk, especially if used in a speculative manner. Both CFDs are categorized as high-risk complex Financial Instruments and Clients may lose the amount invested. The investment decisions made by the Clients are subject to various markets, currency, economic, political, business risks etc., and will not necessarily be profitable. The Client acknowledges and without any reservation accepts that, notwithstanding any general information which may have been given by the Company, the value of any investment in Financial Instruments may fluctuate either upwards or downwards.
The Client acknowledges and without any reservation accepts the existence of a substantial risk of incurring losses and damages as a result of buying or selling any Financial Instrument and acknowledges his willingness to take such risk. Set out below is an outline of the major risks and other significant aspects of CFDs trading:
13. Risk over trading in CFDs
13.1 Trading in CFDs is VERY SPECULATIVE AND HIGHLY RISKY and is not suitable for all members of the general public but only for those investors who:
(a) understand and are willing to assume the economic, legal and other risks involved.
(b) taking into account their personal financial circumstances, financial resources, lifestyle and obligations are financially able to assume the loss of their entire investment.
(c) have the knowledge to understand CFDs trading and the Underlying assets and Markets.
13.2. The Company will not provide the Client with any advice relating to CFDs, the Underlying Assets and Markets or make investment recommendations including occasions where the Client shall request such advice and/or recommendation. However, the Company may provide the Client with information and tools produced by third parties on an “as is” basis (i.e. the Company does not approve, or endorse, or affect the said information and or tools), which may be indicative of trading trends or trading opportunities. The Client accepts and understands that taking any actions based on the information and/or tools provided by third parties may result in losses and/or general reduction of the value of the Client’s assets. The Company does not accept liability for any such losses resulting from actions taken by the Client on the basis of information and
or tools produced by third parties, including but not limited to introducing brokers, consultants, advisors, and MT expert advisors.
13.3. CFDs are derivative financial instruments deriving their value from the prices of the underlying assets/ markets in which they refer to (for example currency, equity indices, stocks, metals, indices futures, forwards etc.). It is important, therefore, that the Client understands the risks associated with trading in the relevant underlying asset/ market because fluctuations in the price of the underlying asset/ market will affect the profitability of his trade.
13.4. Information on the previous performance of CFDs, the Underlying Assets and Markets does not guarantee its current and/or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the CFDs to which the said information refers.
14. Leverage and Gearing
14.1. Transactions in foreign exchange and derivative Financial Instruments carry a high degree of risk. The amount of initial margin may be small relative to the value of the foreign exchange or derivatives contract so that transactions are “leveraged” or “geared”. The Leverage with the Company conducting the brokerage activities can often be as high as 1:500, and thus there is a high risk of losing money rapidly due to leverage.
14.2. A relatively small market movement will have a proportionately larger impact on the funds the Client has deposited or will have to deposit; this may work against the Client as well as for the Client. The Client may sustain a total loss of initial Margin funds and any additional funds deposited with the Company to maintain his/her position. If the market moves against the Client’s position and/or Margin requirements are increased, the Client may be called upon to deposit additional funds on short notice to maintain his position. Failing to comply with a request for a deposit of additional funds, may result in closure of his/her position(s) by the Company on his/her behalf and he will be liable for any resulting loss or deficit. It is client’s responsibility to monitor his trading activity and identify whether he should deposit additional funds to maintain any open positions.
15. Risk-reducing Orders or Strategies
15.1 The placing of certain Orders (e.g. “Stop Loss” orders, where permitted under local law, or “Stop Limit” Orders), which are intended to limit losses to certain amounts, may not be adequate given that market conditions make it impossible to execute such Orders, e.g. due to illiquidity in the market. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simple “long” or “short” positions. Therefore, Stop Limit and Stop Loss Orders cannot guarantee the limit of loss.
15.2. Trailing Stops and Expert Advisors cannot guarantee the limit of loss.
16. Volatility
16.1. Some Financial Instruments trade within wide intraday ranges with volatile price movements. Therefore, the Client must carefully consider that there is a high risk of losses. The price of a Financial Instrument is derived from the price of the Underlying Asset in which the Financial Instruments refers to. Financial Instruments and related Underlying Markets can be highly volatile. The prices of Financial Instruments and the Underlying Asset may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the Client or the Company. Under certain market conditions, it may be impossible for a Client Order to be executed at declared prices leading to losses. The prices of Financial Instruments and the Underlying Assets will be influenced by, amongst other things, changing supply and demand relationships, governmental, agricultural, commercial and trade programs and policies, national and international political and economic events and the prevailing psychological characteristics of the relevant marketplace.
17. Margin
17.1. The Client acknowledges and accepts that, regardless of any information which may be offered by the Company, the value of Derivative Financial Instruments may fluctuate downwards or upwards and it is even probable that the investment may become of no value. This is owed to the margining system applicable to such trades, which generally involves a comparatively modest deposit or margin in terms of the overall contract value, so that a relatively small movement in the Underlying Market can have a disproportionately dramatic effect on the Client’s trade. If the Underlying Market movement is in the Client’s favour, the Client may achieve a good profit, but an equally small adverse market movement can not only quickly result in the loss of the Clients’ entire deposit but may also expose the Client to a large additional loss.
18. Liquidity
18.1. Some of the Underlying Assets may not become immediately liquid as a result of reduced demand for the Underlying Asset, and the Client may not be able to obtain information on the value of these or the extent of the associated risks.
19. Contracts for Differences
19.1 The CFDs available for trading with the Company are non-deliverable spot transactions giving an opportunity to make profit on changes in the Underlying Asset (cash indices, index futures, commodity futures, spot crude oil, spot gold, spot silver, single stocks, currencies or any other asset according to the Company’s discretion from time to time). Subject to the negative balance protection provisions of the Client Agreement as per clause 17.3 of the same, if the Underlying Asset movement is in the Client’s favour, the Client may achieve a good profit, but unequally small adverse market movement can not only quickly result in the loss of the Clients’ entire deposit but also any additional commissions and other expenses incurred. So, the Client must not enter into CFD trading unless he/she is willing to undertake the risks of losing all the money which he/she has invested entirely, in addition to any additional commissions and other expenses incurred, subject to the negative balance protection provisions of the Client Agreement as per clause 17.3 of the same.
19.2. Investing in a Contract for Differences carries the same risks as investing in a future or an option and the Client should be aware of these as set out above. Transactions in Contracts for Differences may also have a contingent liability and the Client should be aware of the implications of this as set out below under “Contingent Liability Investment Transactions”.
20. Off-exchange transactions in Derivative Financial Instruments
20.1. CFDs offered by the Company are off-exchange transactions (i.e. over-the-counter). The trading conditions are set by us, subject to any obligations to act reasonably and in accordance with our Client Agreement. Each CFD order that the Client opens through our Trading Platform results in the entering of an Order with the Company; such Orders can only be closed with the Company and are not transferable to any other person.
20.2. While some off-exchange markets are highly liquid, transactions in off-exchange or non-transferable derivatives may involve greater risk than investing in on-exchange derivatives because there is no exchange market on which to close out an Open Position. It may be impossible to liquidate an existing position, to assess the value of the position arising from an off-exchange transaction, or to assess the exposure to risk. Prices need not be quoted, and, even where they are, they will be established by dealers in these instruments and consequently it may be difficult to establish what a fair price is.
20.3. In regard to transactions in CFDs, the Company is using an Online Trading System for transactions in CFDs which does not fall into the definition of a recognized exchange and so does not have the same protection.
21. Contingent Liability Investment Transactions
21.1. Contingent liability investment transactions, which are margined, require the Client to make a series of payments against the purchase price, instead of paying the whole purchase price immediately. The Margin requirement will depend on the underlying asset of the Financial Instrument. Margin requirements can be fixed or calculated from the current price of the underlying instrument and can be found on the website of the Company.
21.2. If the Client trades in futures or Contracts for Differences, he/she may sustain a total loss of the funds he/she has deposited to open and maintain a position. If the market moves against the Client, he/she may be called upon to pay substantial additional funds at short notice to maintain the position. If the Client fails to do so within the time required, his/her position may be liquidated at a loss, and he will be responsible for the resulting deficit. It is noted that the Company will not have a duty to notify the Client of any Margin Call to sustain a loss-making position.
21.3. Even if a transaction is not margined, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when the Client entered the contract.
21.4. Contingent liability investment transactions that are not traded on or under the rules of a recognized or designated investment exchange may expose the Client to substantially greater risks.
22. Suspensions of Trading
22.1. Under certain trading conditions it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted. Placing a Stop Loss will not necessarily limit the Client’s losses to the intended amounts, because market conditions may make it impossible to execute such an Order at the stipulated price. In addition, under certain market conditions the execution of a Stop Loss Order may be worse than its stipulated price and the realized losses can be larger than expected.
23. No Delivery
23.1. It is understood that the Client has no rights or obligations in respect to the Underlying Assets relating to the CFDs he is trading. There is no delivery of the underlying asset.
24. Slippage
24.1. Slippage is the difference between the expected price of a Transaction in Financial Instruments and the price the Transaction is actually executed at. Slippage often occurs during periods of higher volatility (for example due to news events) making an Order at a specific price impossible to execute, when market orders are used, and also when large Orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade. Risk in Assests other than Forex and CFDs.
25.1 Social Trading
Social trading involves following and replicating the trading strategies of experienced traders. While it offers
potential benefits, such as gaining insights from experts, it also carries several risks, including:
Market Volatility: The financial markets can be highly volatile, and the past performance of traders does not
guarantee future results.
Risk of Loss: As with any investment, there is a risk of losing part or all of your capital, especially if traders
you follow experience losses.
Lack of Control: By delegating trading decisions to others, you give up control over your investments, which
may not align with your risk tolerance or financial goals.
25.2 PAMM & MAM Accounts:
PAMM (Percentage Allocation Management Module) and MAM (Multi-Account Manager) accounts allow professional money managers to trade on behalf of multiple investors. However, investing in such accounts carries the following risks:
Manager Risk: The success of your investment depends on the skills and decisions of the money manager. Poor performance by the manager can lead to losses.
Lack of Transparency: The trading strategies and positions of the money manager may not always be fully transparent.
Potential Conflicts of Interest: The money manager may have interests that differ from those of the investors.
25.3 Real Estate Crowdfunding
Real estate crowdfunding platforms allow you to invest in real estate projects alongside other investors. While it presents an opportunity to diversify, there are certain risks involved:
Market Fluctuations: Real estate values can fluctuate, affecting the potential return on your investment.
Liquidity Risk: Real estate investments may not be easily liquidated, and you may not be able to access your funds quickly.
Project-Specific Risks: Each real estate project may have its unique risks, such as construction delays, regulatory changes, or tenant vacancies.
25.4 Crypto Spots Trading
Cryptocurrencies are highly volatile and speculative assets. Spot trading involves buying and selling cryptocurrencies for immediate settlement. The risks include:
Price Volatility: Cryptocurrency prices can experience significant and rapid fluctuations, leading to potential gains or losses.
Lack of Regulation: The cryptocurrency market is relatively new and may not be subject to the same regulatory protections as traditional financial markets.
Security Risks: The risk of hacking, fraud, or technical glitches may result in the loss of your cryptocurrencies.
25.5 Investment in Active and Passive Funds
Active funds are managed by professional portfolio managers who aim to outperform the market, while passive funds aim to replicate the performance of a specific index. Consider the following risks:
Performance Risk: Active funds may not always outperform the market, and passive funds may not perfectly track their benchmark index.
Management Fees: Both active and passive funds may charge management fees that can impact your overall returns.
Market Risk: All investment funds are subject to market fluctuations, which can affect the value of your investment.
26. Advice and Recommendations
26.1. The Company will not advise the Client about the merits of a particular Transaction or give him/her any form of investment advice and the Client acknowledges that the Services do not include the provision of investment advice in CFDs or the Underlying Assets and Markets. The Client alone will enter into Transactions and take relevant decisions based on his/her own judgement. In asking the Company to enter into any Transaction, the Client represents that he/she has been solely responsible for making his/her own independent appraisal and investigation into the risks of the Transaction. He/she represents that he/she has sufficient knowledge, market sophistication, professional advice and experience to make his/her own evaluation of the merits and risks of any Transaction. The Company gives no warranty as to the suitability of the products traded under this Agreement and assumes no fiduciary duty in its relations with the Client.
26.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client should seek independent expert advice if he/she is in any doubt as to whether he may incur any tax liabilities. The Client is hereby warned that tax laws are subject to change from time to time.
26.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or the Trading Platform or otherwise) with information, news, market commentary or other information but not as a service.
Where it does so:
(a) the Company will not be responsible for such information;
(b) the Company gives no representation, warranty or guarantee as to the accuracy, correctnessor completeness of such information or as to the tax or legal consequences of any related Transaction;
(c) this information is provided solely to enable the Client to make his/her own investment decisions and does not amount to investment advice or unsolicited financial promotions to the Client;
(d) if the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he will not pass it on to any such person or category of persons;
(e) the Client accepts that prior to dispatch, the Company may have acted upon itself to make use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he will receive such information at the same time as other clients.
26.4. It is understood that market commentary, news, or other information provided or made available by the Company are subject to change and may be withdrawn at any time without notice.
27. No Guarantees of Profit
27.1. The Company provides no guarantees of profit nor of avoiding losses when trading in Financial Instruments. The Company cannot guarantee the future performance of the Client’s Trading Account, promise any specific level of performance or promise that the Client’s investment decisions, and strategies, will be successful/profitable. The Client has received no such guarantees from the Company or from any of its representatives. The Client is aware of the risks inherent in trading in Financial Instruments and is financially able to bear such risks and withstand any losses incurred. The Client acknowledges and accepts that there may be other additional risks apart from those mentioned above.
