Under certain market conditions, you may find it impossible to liquidate a position. This can occur, for example, when the market becomes illiquid. The placement of contingent orders by you or your trading advisor, such as a “Stop-loss" or “Stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. A “Spread” position may not be less risky than a simple “Long” Or “Short” position.

The high degree of leverage that is often obtainable in the foreign exchange market can work against you as well as for you. The use of leverage can lead to large losses as well as gains. 

In some cases, managed accounts are subject to substantial charges for management and advisory fees. It may be necessary for those accounts that are subject to these charges to make substantial profits to avoid depletion or exhaustion of their assets.

You should also be aware that this trading advisor may engage in transactions in markets located outside the United States, these may be subject to regulations which offer different or diminished protection. Further, United States regulatory authorities may be unable to compel the enforcement of the rules of regulatory authorities or markets in non United States jurisdictions where your transactions may be effected. Before you open your trading account you should inquire about any rules relevant to your particular   contemplated transactions and personal or business situation. You should be sure to ask the firm with which you intend to open your account and or trade for details about the types of redress available in both your local and other relevant jurisdictions.

The trading advisor is prohibited by law from accepting funds in the trading advisor’s name from a client for trading. You must place all funds for trading in this trading program directly with a Futures Commission Merchant.