Common use of ACCEPTANCE OF THE CONTRACT Clause in Contracts

ACCEPTANCE OF THE CONTRACT. This Customer Agreement shall be accepted by FXDD and will become a legally binding contract between Customer and FXDD when the Customer Application is accepted by FXDD, and when all documents comprising the Customer Agreement, including the Customer Agreement, FXDD Risk Disclosure Statement, Additional Risk Disclosure Statement, FXDD Trading Rules and Regulations and the Acknowledgement Concerning EMIR Risk Mitigating Procedures, are acknowledged by, signed by the Customer, and accepted by FXDD. The opening of the particular Customer’s account on its books and records by FXDD and issuing the Customer with a live User ID and password shall constitute FXDD’s acceptance of the Customer Agreement. The English language version of the Customer Agreement, Risk Disclosure, and Trading Rules and Regulations are the controlling documents for all purposes including dispute resolution. The Foreign Account Tax Compliance Act (FATCA) is a US law which provides for an annual disclosure to the US Tax authority (IRS – Internal Revenue Service) of accounts held by US taxpayers outside the United States. This legislative framework applies to « US persons », (US citizens or US residents). FATCA requires Financial Institutions to transmit on a yearly basis to the IRS the following information regarding US persons: the identity of the account holders, the balance of their accounts, their financial income and gross proceeds of the sale of securities. This reporting also applies to the accounts of US legal or patrimonial entities owned by US taxpayers. Existing US tax legislation compels US taxpayers to file their tax return irrespective of their place of residence. It should be noted that FATCA will have no impact on the reduced tax rates resulting from international tax treaties for the benefit of eligible clients. In most cases, FATCA is implemented through Intergovernmental Agreements (IGA’s) signed between the USA and their partner countries. These IGAs allow for and make compulsory the collection and transmission of tax and banking information by all Financial Institutions, either to their national tax authorities, which in turn have to transmit them to the IRS, or directly to the IRS, depending on the jurisdiction. Many countries including a majority of European states have opted for the IGA approach. In countries which are not opting for an Intergovernmental Agreement, FATCA is implemented through a direct agreement between the IRS and each Financial Institution. Non cooperative Financial Institutions will be subject to penalties. FXDD Mauritius Ltd is FATCA compliant. Through its parent company FXDD Mauritius Ltd is registered with the IRS and thus have obtained the status of participating Financial Institution or equivalent. The Global Intermediary Identification Number (GIIN) allocated by the IRS is W7RR4Y.00001.ME.470 FXDD Mauritius Ltd will contact its clients who are individuals when their file contains one or several elements indicating they may be within the scope of this legislation. FXDD Mauritius Ltd will also contact legal entities when their FATCA classification needs to be clarified. This includes legal entities with a US ultimate beneficial owner, US corporations as well as non-US Foreign Financial Institutions. During the on-boarding process, FXDD Mauritius Ltd will be collecting information allowing for the identification of American residents and citizens (including persons with a dual citizenship) who will have to provide their US Tax Identification Number. Patrimonial entities will have to identify their American ultimate beneficial owners. This allows FXDD Mauritius Ltd to report information about these clients towards the IRS; in turn, these clients will not to be subject to the 30% withholding tax levied on US source income. The first reporting for concerned clients will take place in the spring of 2015 and will contain information related to year 2014. Thereafter, the reporting will be annual. This FXDD Mauritius Ltd. (‘FXDD’) Risk Disclosure Statement is an integral term of the Customer Agreement. THE MAJORITY OF GLOBAL FOREIGN EXCHANGE CURRENCY DEALERS AND BANKS INCLUDING FXDD, ARE COMPENSATED ON THE DIFFERENCE BETWEEN THE BID/ASK SPREAD IN THE CURRENCY PRICE OFFERED TO PARTICIPATING TRADERS AND/OR HAVE THE ABILITY TO ACCUMULATE POSITIONS ON A PROPIETARY BASIS AND ASSUME THE RISK OF THE NET OPEN POSITIONS THEY CARRY. THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. FXDD IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND THEREFORE ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, FXDD’S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT WITH FXDD OR OTHER WRITTEN DOCUMENTS FXDD ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES FXDD OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE FROM AMONGST DIFFERENT PROVIDERS AND FXDD MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS BASED ON OBJECTIVE CRITERIA. IF FXDD ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT FXDD MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE FXDD ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM FXDD OR ANY OF ITS SOLICITORS. Each capitalized term not defined in this Risk Disclosure Statement shall have the meaning given to it in the FXDD Glossary of Terms obtained from the FXDD website. Trading in margined Foreign Exchange and/or Precious Metals involves a high degree of risk including the risk of loss of the Customer’s entire Risk Capital deposited with FXDD. Losses, in some cases, have the potential to extend beyond the Customer’s Account Value. This brief statement does not disclose all of the risks and other significant aspects of spot Foreign Currency, Precious Metals and options trading. In the light of the risks, you should undertake such transactions only if you (“Customer” or “you”) understand the nature of the trading in which you are about to engage and the extent of your exposure to risk. Trading in spot OTC Foreign Exchange is not suitable for many members of the public. You should carefully consider whether such trading is appropriate for you in the light of your experience, objectives, financial resources and other relevant circumstances. In consideration of FXDD agreeing to enter into Foreign Exchange Contracts with you for this Account, FXDD requires you to analyze your financial objectives, financial status, investment constraints and tax situation to determine whether spot OTC Foreign Exchange trading is suitable for you. In addition, we require you to read and acknowledge the FXDD Risk Disclosure Statement that outlines without limitation some of the risks associated with trading margined spot OTC Foreign Exchange through FXDD. By signing this document, you acknowledge, understand and agree to the following: There is no guarantee of profit from trading with FXDD. By signing the FXDD Risk Disclosure Statement, you acknowledge that neither FXDD nor any of its representatives guarantees to you that you will profit from trading or investing in OTC margined spot Foreign Exchange. You further confirm that you can sustain the total loss of your entire Risk Capital deposited in your Account and are financially able to withstand any losses incurred. OTC margined spot Foreign Exchange trading involves a high amount of risk and is highly speculative. By signing the Risk Disclosure Statement, you agree that they are in full understanding and are willing to assume the legal, economic, and other risks associated with trading in margined OTC spot Foreign Exchange, and are willing and able to assume the loss of your entire Risk Capital, defined as those funds, that if lost, would not change your lifestyle or your family’s lifestyle. As such, you further agree that margined spot OTC Foreign Exchange trading may not be suitable for retirement funds. FXDD encourages Customers to closely manage outstanding open positions and to use prudent money management precautions such as, but not limited to, Stop Loss Orders. This FXDD Mauritius Ltd. (‘FXDD’) Risk Disclosure Statement is an integral term of the Customer Agreement. THE MAJORITY OF GLOBAL FOREIGN EXCHANGE CURRENCY DEALERS AND BANKS INCLUDING FXDD, ARE COMPENSATED ON THE DIFFERENCE BETWEEN THE BID/ASK SPREAD IN THE CURRENCY PRICE OFFERED TO PARTICIPATING TRADERS AND/OR HAVE THE ABILITY TO ACCUMULATE POSITIONS ON A PROPIETARY BASIS AND ASSUME THE RISK OF THE NET OPEN POSITIONS THEY CARRY. THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. FXDD IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND THEREFORE ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, FXDD’S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT WITH FXDD OR OTHER WRITTEN DOCUMENTS FXDD ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES FXDD OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE FROM AMONGST DIFFERENT PROVIDERS AND FXDD MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS BASED ON OBJECTIVE CRITERIA. IF FXDD ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT FXDD MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE FXDD ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM FXDD OR ANY OF ITS SOLICITORS. Each capitalized term not defined in this Risk Disclosure Statement shall have the meaning given to it in the FXDD Glossary of Terms obtained from the FXDD website. Trading in margined Foreign Exchange and/or Precious Metals involves a high degree of risk including the risk of loss of the Customer’s entire Risk Capital deposited with FXDD. Losses, in some cases, have the potential to extend beyond the Customer’s Account Value. This brief statement does not disclose all of the risks and other significant aspects of spot Foreign Currency, Precious Metals and options trading. In the light of the risks, you should undertake such transactions only if you (“Customer” or “you”) understand the nature of the trading in which you are about to engage and the extent of your exposure to risk. Trading in spot OTC Foreign Exchange is not suitable for many members of the public. You should carefully consider whether such trading is appropriate for you in the light of your experience, objectives, financial resources and other relevant circumstances. In consideration of FXDD agreeing to enter into Foreign Exchange Contracts with you for this Account, FXDD requires you to analyze your financial objectives, financial status, investment constraints and tax situation to determine whether spot OTC Foreign Exchange trading is suitable for you. In addition, we require you to read and acknowledge the FXDD Risk Disclosure Statement that outlines without limitation some of the risks associated with trading margined spot OTC Foreign Exchange through FXDD. By signing this document, you acknowledge, understand and agree to the following: There is no guarantee of profit from trading with FXDD. By signing the FXDD Risk Disclosure Statement, you acknowledge that neither FXDD nor any of its representatives guarantees to you that you will profit from trading or investing in OTC margined spot Foreign Exchange. You further confirm that you can sustain the total loss of your entire Risk Capital deposited in your Account and are financially able to withstand any losses incurred. OTC margined spot Foreign Exchange trading involves a high amount of risk and is highly speculative. By signing the Risk Disclosure Statement, you agree that they are in full understanding and are willing to assume the legal, economic, and other risks associated with trading in margined OTC spot Foreign Exchange, and are willing and able to assume the loss of your entire Risk Capital, defined as those funds, that if lost, would not change your lifestyle or your family’s lifestyle. As such, you further agree that margined spot OTC Foreign Exchange trading may not be suitable for retirement funds. FXDD encourages Customers to closely manage outstanding open positions and to use prudent money management precautions such as, but not limited to, Stop Loss Orders. Excessive leverage available with OTC margined spot Foreign Exchange can lead to quick losses. By signing the Risk Disclosure Statement, the Customer agrees that using a high degree of leverage, defined as the use of a small amount of capital to control a larger amount in an Open Position, can result in large losses due to a price change(s) of open Foreign Currency positions with FXDD. FXDD provides leverage on most Currency Pairs for most customers of 100:1. For example, with 100:1 leverage, the Customer has the potential to control a $500,000 position with $5,000 in an Account. FXDD encourages each of its Customers to use only that portion of leverage that such Customer is most comfortable with and to use money management precautions such as, but not limited to, Stop Loss Orders for the purpose of managing risk. FXDD reserves, at its sole discretion, the right to reduce or increase the amount of leverage given on any Currency Pair at any time and without notice. OTC margined spot Foreign Exchange trading experiences periods of substantial liquidity risk. By signing the FXDD Risk Disclosure Statement, each Customer acknowledges that liquidity risk, resulting from decreased liquidity of a currency pair, is usually due to unanticipated changes in economic and/or political conditions. Each Customer also acknowledges that Liquidity Risk can affect the general market in that all participants experience the same lack of buyers and/or sellers. Each Customer also understands that liquidity risk can be FXDD specific due to changes in liquidity available to FXDD from FXDD’s inter-bank liquidity providers or specific to retail Foreign Exchange market makers due to a perception that the risks of the market segment have increased. When liquidity decreases, Customers can expect, at the minimum, to have wider bid to ask spreads as the supply of available bid/ask prices, outstrips the demand. Decreases in liquidity can also result in “Fast Market” conditions where the price of a currency pair moves sharply higher or lower or in a volatile up/down pattern without trading in an ordinary step-like fashion. In some instances there may exist the possibility that a trading bid and/or ask price for a Foreign Exchange pair or pairs is not available (a situation where there is no liquidity). Although there may be instances when the aggregate OTC spot Foreign Exchange market enters a “Fast Market” situation or periods where liquidity is in short or no supply, it is important to note that, FXDD’s prices, bid/ask spreads and liquidity will reflect the prevailing inter-bank market liquidity for FXDD. FXDD will liquidate Customer positions that are not adequately margined. Because of the leverage available with OTC margined spot Foreign Exchange trading and the potential for extreme volatility, FXDD reserves the sole discretionary right to liquidate a Customer’s Account should the Margin in the Account not be sufficient to cover the potential risk of loss. Required margin levels are indicated on FXDD’s trading platforms. Should a Customer’s Account value go below the Liquidation Level, FXDD reserves the right to automatically Liquidate the customer’s position and the Customer will be responsible and liable for all resulting losses as a result of such liquidation. FXDD reserves the right to change the Liquidation Level at its sole discretion. Prices from FXDD are independent of prices of other institutions and businesses. By signing the FXDD Risk Disclosure Statement, each Customer acknowledges that the prices reported by FXDD for buying and selling currency pairs are independent and can differ from the prices displayed elsewhere or from those of other liquidity providers in the Interbank Market. Differences can result from, but are not limited to, changes in liquidity from Interbank market makers to FXDD, an unbalanced position or exposure in currency pairs at FXDD, or differing expectations of price movements in currency pairs by FXDD. FXDD

ACCEPTANCE OF THE CONTRACT. This Customer Agreement shall be accepted by FXDD GLORY FOREX and will become a legally binding contract between Customer and FXDD GLORY FOREX when the Customer Application is accepted by FXDDGLORY FOREX, and when all documents comprising the Customer Agreement, including the Customer Agreement, FXDD GLORY FOREX Risk Disclosure Statement, Additional Risk Disclosure Statement, FXDD GLORY FOREX Trading Rules and Regulations and the Acknowledgement Concerning EMIR Risk Mitigating Procedures, are acknowledged by, signed by the Customer, and accepted by FXDDGLORY FOREX. The opening of the particular Customer’s ' s account on its books and records by FXDD GLORY FOREX and issuing the Customer with a live User ID and password shall constitute FXDD’s GLORY FOREX' s acceptance of the Customer Agreement. The English language version of the Customer Agreement, Risk Disclosure, and Trading Rules and Regulations are the controlling documents for all purposes including dispute resolution. The Foreign Account Tax Compliance Act (FATCA) is a US law which provides for an annual disclosure to the US Tax authority (IRS – - Internal Revenue Service) of accounts held by US taxpayers outside the United States. This legislative framework applies to « << US persons »>>, (US citizens or US residents). FATCA requires Financial Institutions to transmit on a yearly basis to the IRS the following information regarding US persons: the identity of the account holders, the balance of their accounts, their financial income and gross proceeds of the sale of securities. This reporting also applies to the accounts of US legal or patrimonial entities owned by US taxpayers. Existing US tax legislation compels US taxpayers to file their tax return irrespective of their place of residence. It should be noted that FATCA will have no impact on the reduced tax rates resulting from international tax treaties for the benefit of eligible clients. In most cases, FATCA is implemented through Intergovernmental Agreements (IGA’s' s) signed between the USA and their partner countries. These IGAs allow for and make compulsory the collection and transmission of tax and banking information by all Financial Institutions, either to their national tax authorities, which in turn have to transmit them to the IRS, or directly to the IRS, depending on the jurisdiction. Many countries including a majority of European states have opted for the IGA approach. In countries which are not opting for an Intergovernmental Agreement, FATCA is implemented through a direct agreement between the IRS and each Financial Institution. Non cooperative Financial Institutions will be subject to penalties. FXDD Mauritius Ltd COMPLIANCE OF Glory Forex Limited WITH FATCA OBLIGATIONS Glory Forex Limited is FATCA compliant. Through its parent company FXDD Mauritius Ltd Glory Forex Limited is registered with the IRS and thus have obtained the status of participating Financial Institution or equivalent. The Global Intermediary Identification Number (GIIN) allocated by the IRS is W7RR4Y.00001.ME.470 FXDD Mauritius Ltd will contact its clients who are individuals when their file contains one or several elements indicating they may be within the scope of this legislation. FXDD Mauritius Ltd will also contact legal entities when their FATCA classification needs to be clarified. This includes legal entities with a US ultimate beneficial owner, US corporations as well as non-US Foreign Financial Institutions. During the on-boarding process, FXDD Mauritius Ltd will be collecting information allowing for the identification of American residents and citizens (including persons with a dual citizenship) who will have to provide their US Tax Identification Number. Patrimonial entities will have to identify their American ultimate beneficial owners. This allows FXDD Mauritius Ltd to report information about these clients towards the IRS; in turn, these clients will not to be subject to the 30% withholding tax levied on US source income. The first reporting for concerned clients will take place in the spring of 2015 and will contain information related to year 2014. Thereafter, the reporting will be annual. This FXDD Mauritius Ltd. (‘FXDD’) Risk Disclosure Statement is an integral term of the Customer Agreement. THE MAJORITY OF GLOBAL FOREIGN EXCHANGE CURRENCY DEALERS AND BANKS INCLUDING FXDD, ARE COMPENSATED ON THE DIFFERENCE BETWEEN THE BID/ASK SPREAD IN THE CURRENCY PRICE OFFERED TO PARTICIPATING TRADERS AND/OR HAVE THE ABILITY TO ACCUMULATE POSITIONS ON A PROPIETARY BASIS AND ASSUME THE RISK OF THE NET OPEN POSITIONS THEY CARRY. THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. FXDD IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND THEREFORE ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, FXDD’S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT WITH FXDD OR OTHER WRITTEN DOCUMENTS FXDD ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES FXDD OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE FROM AMONGST DIFFERENT PROVIDERS AND FXDD MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS BASED ON OBJECTIVE CRITERIA. IF FXDD ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT FXDD MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE FXDD ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM FXDD OR ANY OF ITS SOLICITORS. Each capitalized term not defined in this Risk Disclosure Statement shall have the meaning given to it in the FXDD Glossary of Terms obtained from the FXDD website. Trading in margined Foreign Exchange and/or Precious Metals involves a high degree of risk including the risk of loss of the Customer’s entire Risk Capital deposited with FXDD. Losses, in some cases, have the potential to extend beyond the Customer’s Account Value. This brief statement does not disclose all of the risks and other significant aspects of spot Foreign Currency, Precious Metals and options trading. In the light of the risks, you should undertake such transactions only if you (“Customer” or “you”) understand the nature of the trading in which you are about to engage and the extent of your exposure to risk. Trading in spot OTC Foreign Exchange is not suitable for many members of the public. You should carefully consider whether such trading is appropriate for you in the light of your experience, objectives, financial resources and other relevant circumstances. In consideration of FXDD agreeing to enter into Foreign Exchange Contracts with you for this Account, FXDD requires you to analyze your financial objectives, financial status, investment constraints and tax situation to determine whether spot OTC Foreign Exchange trading is suitable for you. In addition, we require you to read and acknowledge the FXDD Risk Disclosure Statement that outlines without limitation some of the risks associated with trading margined spot OTC Foreign Exchange through FXDD. By signing this document, you acknowledge, understand and agree to the following: There is no guarantee of profit from trading with FXDD. By signing the FXDD Risk Disclosure Statement, you acknowledge that neither FXDD nor any of its representatives guarantees to you that you will profit from trading or investing in OTC margined spot Foreign Exchange. You further confirm that you can sustain the total loss of your entire Risk Capital deposited in your Account and are financially able to withstand any losses incurred. OTC margined spot Foreign Exchange trading involves a high amount of risk and is highly speculative. By signing the Risk Disclosure Statement, you agree that they are in full understanding and are willing to assume the legal, economic, and other risks associated with trading in margined OTC spot Foreign Exchange, and are willing and able to assume the loss of your entire Risk Capital, defined as those funds, that if lost, would not change your lifestyle or your family’s lifestyle. As such, you further agree that margined spot OTC Foreign Exchange trading may not be suitable for retirement funds. FXDD encourages Customers to closely manage outstanding open positions and to use prudent money management precautions such as, but not limited to, Stop Loss Orders. This FXDD Mauritius Ltd. (‘FXDD’) Risk Disclosure Statement is an integral term of the Customer Agreement. THE MAJORITY OF GLOBAL FOREIGN EXCHANGE CURRENCY DEALERS AND BANKS INCLUDING FXDD, ARE COMPENSATED ON THE DIFFERENCE BETWEEN THE BID/ASK SPREAD IN THE CURRENCY PRICE OFFERED TO PARTICIPATING TRADERS AND/OR HAVE THE ABILITY TO ACCUMULATE POSITIONS ON A PROPIETARY BASIS AND ASSUME THE RISK OF THE NET OPEN POSITIONS THEY CARRY. THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. FXDD IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND THEREFORE ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, FXDD’S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT WITH FXDD OR OTHER WRITTEN DOCUMENTS FXDD ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES FXDD OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE FROM AMONGST DIFFERENT PROVIDERS AND FXDD MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS BASED ON OBJECTIVE CRITERIA. IF FXDD ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT FXDD MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE FXDD ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM FXDD OR ANY OF ITS SOLICITORS. Each capitalized term not defined in this Risk Disclosure Statement shall have the meaning given to it in the FXDD Glossary of Terms obtained from the FXDD website. Trading in margined Foreign Exchange and/or Precious Metals involves a high degree of risk including the risk of loss of the Customer’s entire Risk Capital deposited with FXDD. Losses, in some cases, have the potential to extend beyond the Customer’s Account Value. This brief statement does not disclose all of the risks and other significant aspects of spot Foreign Currency, Precious Metals and options trading. In the light of the risks, you should undertake such transactions only if you (“Customer” or “you”) understand the nature of the trading in which you are about to engage and the extent of your exposure to risk. Trading in spot OTC Foreign Exchange is not suitable for many members of the public. You should carefully consider whether such trading is appropriate for you in the light of your experience, objectives, financial resources and other relevant circumstances. In consideration of FXDD agreeing to enter into Foreign Exchange Contracts with you for this Account, FXDD requires you to analyze your financial objectives, financial status, investment constraints and tax situation to determine whether spot OTC Foreign Exchange trading is suitable for you. In addition, we require you to read and acknowledge the FXDD Risk Disclosure Statement that outlines without limitation some of the risks associated with trading margined spot OTC Foreign Exchange through FXDD. By signing this document, you acknowledge, understand and agree to the following: There is no guarantee of profit from trading with FXDD. By signing the FXDD Risk Disclosure Statement, you acknowledge that neither FXDD nor any of its representatives guarantees to you that you will profit from trading or investing in OTC margined spot Foreign Exchange. You further confirm that you can sustain the total loss of your entire Risk Capital deposited in your Account and are financially able to withstand any losses incurred. OTC margined spot Foreign Exchange trading involves a high amount of risk and is highly speculative. By signing the Risk Disclosure Statement, you agree that they are in full understanding and are willing to assume the legal, economic, and other risks associated with trading in margined OTC spot Foreign Exchange, and are willing and able to assume the loss of your entire Risk Capital, defined as those funds, that if lost, would not change your lifestyle or your family’s lifestyle. As such, you further agree that margined spot OTC Foreign Exchange trading may not be suitable for retirement funds. FXDD encourages Customers to closely manage outstanding open positions and to use prudent money management precautions such as, but not limited to, Stop Loss Orders. Excessive leverage available with OTC margined spot Foreign Exchange can lead to quick losses. By signing the Risk Disclosure Statement, the Customer agrees that using a high degree of leverage, defined as the use of a small amount of capital to control a larger amount in an Open Position, can result in large losses due to a price change(s) of open Foreign Currency positions with FXDD. FXDD provides leverage on most Currency Pairs for most customers of 100:1. For example, with 100:1 leverage, the Customer has the potential to control a $500,000 position with $5,000 in an Account. FXDD encourages each of its Customers to use only that portion of leverage that such Customer is most comfortable with and to use money management precautions such as, but not limited to, Stop Loss Orders for the purpose of managing risk. FXDD reserves, at its sole discretion, the right to reduce or increase the amount of leverage given on any Currency Pair at any time and without notice. OTC margined spot Foreign Exchange trading experiences periods of substantial liquidity risk. By signing the FXDD Risk Disclosure Statement, each Customer acknowledges that liquidity risk, resulting from decreased liquidity of a currency pair, is usually due to unanticipated changes in economic and/or political conditions. Each Customer also acknowledges that Liquidity Risk can affect the general market in that all participants experience the same lack of buyers and/or sellers. Each Customer also understands that liquidity risk can be FXDD specific due to changes in liquidity available to FXDD from FXDD’s inter-bank liquidity providers or specific to retail Foreign Exchange market makers due to a perception that the risks of the market segment have increased. When liquidity decreases, Customers can expect, at the minimum, to have wider bid to ask spreads as the supply of available bid/ask prices, outstrips the demand. Decreases in liquidity can also result in “Fast Market” conditions where the price of a currency pair moves sharply higher or lower or in a volatile up/down pattern without trading in an ordinary step-like fashion. In some instances there may exist the possibility that a trading bid and/or ask price for a Foreign Exchange pair or pairs is not available (a situation where there is no liquidity). Although there may be instances when the aggregate OTC spot Foreign Exchange market enters a “Fast Market” situation or periods where liquidity is in short or no supply, it is important to note that, FXDD’s prices, bid/ask spreads and liquidity will reflect the prevailing inter-bank market liquidity for FXDD. FXDD will liquidate Customer positions that are not adequately margined. Because of the leverage available with OTC margined spot Foreign Exchange trading and the potential for extreme volatility, FXDD reserves the sole discretionary right to liquidate a Customer’s Account should the Margin in the Account not be sufficient to cover the potential risk of loss. Required margin levels are indicated on FXDD’s trading platforms. Should a Customer’s Account value go below the Liquidation Level, FXDD reserves the right to automatically Liquidate the customer’s position and the Customer will be responsible and liable for all resulting losses as a result of such liquidation. FXDD reserves the right to change the Liquidation Level at its sole discretion. Prices from FXDD are independent of prices of other institutions and businesses. By signing the FXDD Risk Disclosure Statement, each Customer acknowledges that the prices reported by FXDD for buying and selling currency pairs are independent and can differ from the prices displayed elsewhere or from those of other liquidity providers in the Interbank Market. Differences can result from, but are not limited to, changes in liquidity from Interbank market makers to FXDD, an unbalanced position or exposure in currency pairs at FXDD, or differing expectations of price movements in currency pairs by FXDD. FXDD.