This is a legal contract between Foreign Exchange Clearing House Ltd (“FXCH”), its successors and assigns, and the party (or parties) executing this document.

In connection with opening an account to speculate and/or purchase and/or sell Contracts For Difference (hereinafter referred to as “CFDs”), futures, indices, foreign exchange, and/or shares through the OTC market (hereinafter referred to as “OTC”) with FXCH, Customer (hereinafter referred to as Trader) acknowledges that Trader has been advised and understands the following factors concerning trading in leveraged OTC, in addition to those contained in the following Risk Disclosure Statement and the Bankruptcy Statement which have been provided to Trader.

1. OTC is not traded on a regulated exchange. There are no guarantees to the credit worthiness of the counter party of your Currency position. Every attempt has been made to deal with reputable credit worthy banks/clearing houses. Also, there may be certain cases in which trading liquidity decreases causing trading in a certain Currency to cease, thereby preventing the liquidation of an adverse position which may result in a substantial financial loss.

2. Trading in OTC is suitable only for those sophisticated institutions or sophisticated participants financially able to withstand losses which may equal the value of margins or deposits. OTC accounts are not available through FXCH to non-sophisticated participants.

3. The market recommendations of FXCH are based solely on the judgment of FXCH’s personnel. These market recommendations may or may not be consistent with the market position or intentions of FXCH, its affiliates, and employees. The market recommendations of FXCH are based upon information believed to be reliable, but FXCH cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will eliminate the risk inherent in trading currency. Any market recommendations of or information provided by, FXCH do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any OTC transaction.

4. Trader understands that FXCH does not permit its Account Executives to either exercise discretion or manage an OTC account, or hold a power of attorney over an OTC account, unless approved by an executive officer of FXCH and only after proper documentation has been submitted and approved by FXCH. If Trader’s account is not being traded with Trader’s authorization, Trader must notify a FXCH Compliance Officer immediately.

5. FXCH' margin policies and/or the margin policies of those banks, clearing houses and other institutions with which Currency contracts for Trader's Account are hedged may require that additional funds be provided from time to time to properly margin Trader's Account and, in such circumstances, Trader will be obligated to meet such margin requirements immediately or within a short period of time (3 days). Failure to meet margin calls timely may result in the liquidation of all open positions in Trader's Account, with a resultant loss that may be substantial. FXCH also reserves the right to refuse to accept any order. Trader is encouraged to avoid margin calls through the use of stops and/or adequately capitalized accounts.

6. Trader understands that Trader must carefully review the reports relating to Trader’s trading provided to Trader by FXCH. Pursuant to the Trader Agreement, all reports of execution will be deemed final within twenty-four (24) hours and all statements of account will be deemed final within one (1) day , unless the Trader makes a written objection to these reports within this 24 hour period of time to an executive officer of FXCH , at its principal place of business.

7. The Trader has read and understands the Trader’s obligations and rights under the following Trader Agreement and agrees and acknowledges that the following Trader Agreement will control the Trader’s relationship with FXCH. The Trader agrees that Trader is fully responsible for making all final decisions as to transactions effected for Trader’s account. Trader has considered the foregoing factors and in view of Trader’s present and anticipated financial resources, Trader is willing and able to assume the substantial financial risks of OTC trading.