RISK DISCLOSURE STATEMENT

In consideration of GlobalFX.pl agreeing to enter into Over-the-Counter (“OTC”) Foreign Exchange Contracts with the undersigned (hereinafter referred to as the “Customer”), Customer acknowledges, understands and agrees that:

1. Trading Is Very Speculative and Risky.

Foreign Exchange Trading is highly speculative and is suitable only for those customers who (a) understand and are willing to assume the economic, legal and other risks involved, and (b) are financially able to assume losses significantly in excess of Margin or deposits. Foreign Exchange is not an appropriate investment for retirement funds. Customer represents, warrants and agrees that Customer understands these risks; that Customer is willing and able, financially and otherwise, to assume the risks of Foreign Exchange Trading and that loss of Customer’s entire Account Balance will not change Customer’s life style.

2. High Leverage And Low Margin Can Lead To Quick Losses.

The high leverage and low Margin associated with Foreign Exchange Trading can result in significant losses due to price changes in Foreign Exchange Contracts and Cross Currency Contracts. Customers must maintain the Minimum Margin Requirement on their Open Positions at all times. It is the customer's responsibility to monitor his/her Account Balance. GlobalFX.pl has the right to liquidate any or all Open Positions whenever the Minimum Margin Requirement is not maintained.

3. Prices, Margin And Valuations Are Set By GlobalFX.pl And May Be Different From Prices Reported Elsewhere.

GlobalFX.pl will provide prices to be used in trading, valuation of Customer positions and determination of Margin requirements. Although GlobalFX.pl expects that these prices will be reasonably related to prices available in the interbank market, prices reported by GlobalFX.pl may vary from prices available to banks and other participants in what is known as the interbank market. GlobalFX.pl will exercise considerable discretion in setting and collecting Margin. GlobalFX.pl is authorized to convert funds in Customer’s Account for Margin into and from such Foreign Currency at a rate of exchange determined by GlobalFX.pl in its sole discretion on the basis of then-prevailing money market rates.

4. One Click Trading And Immediate Execution.

GlobalFX.pl’s automated order entry system provides immediate transmission of Customer’s order once Customer enters the notional amount and clicks “Buy/Sell.” There is no “second look” before transmission, and Market Orders cannot be cancelled. This feature may be different from other trading systems. Customer should utilize the Demo Trading System to become familiar with the order entry process before trading online with GlobalFX.pl. Customer agrees that by using GlobalFX.pl’s order-entry system, Customer agrees to the one-click system and accepts the risk of this immediate transmission feature.

5. Telephone Orders And Immediate Execution.

Market Orders executed through the GlobalFX.pl Trading Desk are completed when GlobalFX.pl says “deal” or “done.” At that point Customer has bought or sold and cannot cancel the Market Order. By placing Market Orders through the GlobalFX.pl Trading Desk, Customer agrees to such immediate execution and accepts the risk of this immediate execution feature.

6. Market Recommendations Are Informational, Customer Makes Independent Decisions, And GlobalFX.pl Is Not An Adviser Or A Fiduciary To Customer.

The market recommendations provided by GlobalFX.pl do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any Foreign Exchange Contracts or Cross Currency Contracts. Each decision by Customer to enter into a Contract or other transaction with GlobalFX.pl and each decision whether a Contract or other transaction is appropriate or proper for Customer is an independent decision by Customer. GlobalFX.pl is not acting as an advisor or serving as a fiduciary to Customer. Customer agrees that GlobalFX.pl has no fiduciary duty to Customer and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with Customer following GlobalFX.pl’s trading recommendations or taking or not taking any action based upon any recommendation or information provided by GlobalFX.pl.

7. Recommendations Are Based On Personal Judgments And Are Not Guaranteed.

The market recommendations of GlobalFX.pl are based solely on the judgment of GlobalFX.pl’s personnel. These market recommendations may or may not be consistent with the market positions or intentions of GlobalFX.pl, its affiliates and employees. The market recommendations of GlobalFX.pl are based upon information believed to be reliable, but GlobalFX.pl cannot and does not guarantee the accuracy or completeness thereof or represent that following such recommendations will reduce or eliminate the risk inherent in Foreign Exchange Trading.

8. There is no Central Market or Clearinghouse Guarantee of Payment. Foreign exchange trading with GlobalFX.pl is not conducted on a regulated market or exchange.

Each Contract is a contract directly between GlobalFX.pl and the Customer. There is no clearinghouse and no guarantee by any other party of GlobalFX.pl’s payment obligations to the customer. Customer must look only to GlobalFX.pl for performance on all Contracts in Customer’s Account and for return of any Margin or Collateral. The insolvency of GlobalFX.pl or a default by GlobalFX.pl could cause Customer to lose the value of its Account and to suffer additional losses from Open Positions.

9. No Guarantees Of Profit.

There are no guarantees of profit or freedom from loss in Foreign Exchange Trading. Customer has received no such guarantees from GlobalFX.pl or from any of its representatives. Customer is aware of the risks inherent in Foreign Exchange Trading and is financially able to bear such risks and withstand any losses incurred.

10. Customer May Not Be Able To Close Open Positions.

Due to market conditions or other circumstances GlobalFX.pl may be unable to close out Customer’s position at the level specified by Customer, and Customer agrees GlobalFX.pl will bear no liability for failure to do so.

11. Trading Ahead And Along.

GlobalFX.pl its personnel and affiliates and various other parties may execute orders at the same or better prices ahead of a Customer Order.

12. Third Party Agents.

In the event that Customer grants trading authority or control over Customer’s Account to a third party (the “Trading Agent”), whether on a discretionary or non-discretionary basis, GlobalFX.pl shall in no way be responsible for reviewing Customer’s choice of such Trading Agent or for making any recommendations with respect thereto. GlobalFX.pl makes no representations or warranties concerning any Trading Agent; GlobalFX.pl shall not be responsible for any loss to Customer occasioned by the actions of the Trading Agent; and GlobalFX.pl does not, by implication or otherwise, endorse or approve of the operating methods of the Trading Agent. If Customer gives the Trading Agent authority to exercise any of its rights over its Account, Customer does so at Customer’s risk. Even though the undersigned grants authority to Trading Agent, client should be diligent and closely scrutinize all account activity. GlobalFX.pl provides online Account access at www.GlobalFX.pl/reports, whereby Client may view their Account Value and Account Activity.

13. Internet Trading.

Since GlobalFX.pl does not control signal power, its reception or routing via Internet, configuration of Customer’s equipment or reliability of its connection, GlobalFX.pl shall not be liable for any claims, losses, damages, costs or expenses, including attorneys’ fees, caused, directly or indirectly, by any breakdown or failure of any transmission or communication system or computer facility or trading software, whether belonging to GlobalFX.pl, Customer, any market, or any settlement or clearing system when Customer trades online (via Internet).

14. Telephone Orders.

GlobalFX.pl is not responsible for disruption, failure or malfunction of telephone lines.

15. Quoting Errors.

Should a quoting error occur due to a mistype of a quote or a misquote given by telephone and/or electronic means (including responses to Customer requests), GlobalFX.pl is not liable for any resulting errors in Account Balances and reserves the right to make necessary corrections or adjustments on the Account involved. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by GlobalFX.pl, in its sole discretion, of the relevant Currency at the time such an error occurred. In cases where the prevailing market represents prices different from the prices GlobalFX.pl has posted on our screen, GlobalFX.pl will attempt, on a best efforts basis, to execute trades on or close to the prevailing market prices. These prevailing market prices will be the prices, which are ultimately reflected on the Customer Statements. This may or may not adversely affect customer realized and unrealized gains and losses.

16. Creditor Priority in Bankruptcy.

The transactions you are entering into with GlobalFX.pl are not traded on an exchange. Therefore, under the U.S. Bankruptcy Code, your funds may not receive the same protections as funds used to margin or guarantee exchange-traded futures and options contracts, which receive a priority in bankruptcy. Since that same priority has not been given to funds used for off-exchange forex trading, if GlobalFX.pl becomes insolvent and you have a claim for amounts deposited or profits earned on transactions with GlobalFX.pl, your claim may not receive a priority. Without a priority, you are a general creditor and your claim will be paid, along with the claims of other general creditors, from any monies still available after priority claims are paid. Even customer funds that Company keeps separate from its own operating funds may not be safe from the claims of other general and priority creditors.