CUSTOMER ACKNOWLEDGES AND UNDERSTANDS THAT TRADING AND INVESTMENT IN LEVERAGED OTC SPOT FOREIGN CURRENCY CONTRACTS IS HIGHLY SPECULATIVE, INVOLVES AN EXTREME DEGREE OF RISK, AND IS GENERALLY APPROPRIATE ONLY FOR PERSONS WHO CAN ASSUME RISK OF LOSS IN EXCESS OF THEIR MARGIN DEPOSIT.
Customer understands that because of the low margin / high leverage normally available in Foreign Currency and CFDs trading, price changes in Foreign Currency and CFDs may result in significant losses. Such losses may substantially exceed Customer’s investment and margin deposit.
By Customer directing Brokersclub to enter into any Foreign Currency and CFDs, any profit or loss arising as a result of a fluctuation in the exchange rate affecting such Currency will be entirely for the Customer’s account and risk, all initial and subsequent deposits for margin purposes shall be made in U.S. dollars, in such amounts as Brokersclub may in its sole discretion require; and Brokersclub is authorised to convert funds in Customer’s account for margin into and from such Foreign Currency at a rate of exchange determined by Brokersclub in its sole discretion on the basis of the then prevailing money market rates.
Customer warrants that the Customer is willing and able, financially and otherwise, to assume the risk of Foreign Currency and/or CFDs trading. The Customer agrees not to hold Brokersclub responsible for any losses. Customer recognises that guarantees of profit or freedom from loss cannot be given and it is impossible to predict performance in Foreign Currency and CFDs trading.
Customer acknowledges that Customer has received no such guarantees from Brokersclub or from any of its representatives or any Introducing Broker or other entity and has not entered into this Customer Agreement in consideration of or in reliance upon any such guarantees or similar representations. All transactions effected for Customer’s Accounts and all fluctuations in the market prices of the Contracts carried in Customer’s Accounts are at Customer’s risk, and Customer shall be solely liable therefore under all circumstances. Customer represents and warrants that Customer is willing and financially able to sustain such losses, and that the trading of Spot
Foreign Exchange (Currencies) and/or CFDs is a suitable investment vehicle for the Customer.
Brokersclub is not responsible and liable for delays or partial or total failures in any online (electronic) Trading Platforms or any communications facility or other causes beyond Brokersclub’s reasonable direct control. The Customer understands and recognises that the transactions to be conducted pursuant to this Customer Agreement are NOT conducted on a Regulated Market or Exchange. Customer represents that he/she/ it is aware of the risks inherent in the trading of OTC Foreign Exchange (Currencies) and/or CFDs and is financially able to bear such risks and withstand any losses incurred.
(For a further discussion on the Risks of Trading Foreign Exchange and CFDs please refer to the Risk Disclosure Statement and Additional Risk Disclosure Statement).