Risk Warning

Trading derivative, securities or spot contracts may not be suitable for all investors. You may lose a substantial amount of money in a very short period of time. The amount you may lose is potentially unlimited and can exceed the amount you originally deposit with Ellipsys. Derivative or Spot trading is highly leveraged, with a relatively small amount of money used to take a position in assets having a much greater value. If you are uncomfortable with this level of risk, you should not trade these contracts.

The risk of loss in trading in Spot and Derivative Contracts can be substantial. You should therefore carefully consider whether trading is appropriate for you. Should you choose to trade, please note the following:

• You could sustain a total loss of the initial margin funds that you deposit with Ellipsys to establish or maintain a position in Spot and/or CFDs Contract ;
• If the market price moves against your position, you may be required, at short notice, to deposit additional funds in order to maintain your position. Those additional funds may be substantial. If you fail to provide those additional funds within the required time, your position may be liquidated at a loss and in that event you will be liable for any shortfall in your account resulting from that failure;
• There can be conditions when it could become difficult or impossible for you to liquidate a position (this can, for example, happen when there is a large change in prices in a short period);
• The placing of contingent orders (such as a "stop-loss" order) may not always limit your losses to the amounts that you may want. Conditions may make it impossible to execute such orders;
• A "spread" position is not necessarily less risky than simply "long" or "short" position;
• If you wish to trade in options, the maximum loss in buying an option is the amount of the premium, however the risks of selling an option are the same as Spot and CFDs Contracts.

This statement does not disclose all of the risks and other significant aspects involved in trading Spot and CFD Contracts. You should therefore study these Contracts carefully before trading in it.