Trading is very speculative and risky

Foreign Exchange and Spot Metal Trading may not be an appropriate investment for retirement funds. Client represents, warrants and agrees that Client understands these risks; that Client is willing and able, financially and otherwise, to assume the risks of Foreign Exchange Trading and Spot Metal Trading and that loss of Client's entire account balance will not change Client's life style.

High leverage and low margin can lead to quick losses

The high leverage and low margin associated with Foreign Exchange Trading and Spot Metal Trading can result in significant losses due to price changes in Foreign Exchange contracts, cross currency contracts and metal 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. Triumph Int. (SC) Limited has the right to liquidate any or all open positions whenever the Minimum Margin requirement is not maintained. “Increasing leverage increases risk”.

Prices, margin and valuations are set by Triumph Int. (SC) Limited and may be different from prices reported elsewhere

Triumph Int. (SC) Limited will provide prices to be used in trading, valuation of customer positions and determination of margin requirements. Although Triumph Int. (SC) Limited expects that these prices will be reasonably related to prices available in the interbank market, prices reported by Triumph Int. (SC) Limited may vary from prices available to banks and other participants in what is known as the interbank market. Triumph Int. (SC) Limited will exercise considerable discretion in setting and collecting margin. Triumph Int. (SC) Limited is authorized to convert funds in customer's account for margin into and from such foreign currency and metal at a rate of exchange determined by Triumph Int. (SC) Limited in its sole discretion on the basis of then- prevailing money market rates.

One click trading and immediate execution

Triumph Int. (SC) Limited'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 canceled. This feature may be different from other trading systems. Although not required, we recommend a customer utilize the Demo Trading System to become familiar with the order entry process before trading online with Triumph Int. (SC) Limited. Customer agrees that by using Triumph Int. (SC) Limited's order-entry system, customer agrees to the one-click system and accepts the risk of this immediate transmission feature.

Market recommendations are informational, customer makes independent decisions, and Triumph Int. (SC) Limited is not an adviser or a fiduciary to customer

The market recommendations provided by Triumph Int. (SC) Limited do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any foreign exchange contracts, cross currency contracts or metal contracts. Each decision by customer to enter into a contract or other transaction with Triumph Int. (SC) Limited and each decision whether a contract or other transaction is appropriate or proper for customer is an independent decision by customer. Triumph Int. (SC) Limited is not acting as an advisor or serving as a fiduciary to customer. Customer agrees that Triumph Int. (SC) Limited 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 Triumph Int. (SC) Limited's trading recommendations or taking or not taking any action based upon any recommendation or information provided by Triumph Int. (SC) Limited.

Recommendations are based on personal judgments and are not guaranteed

The market recommendations of Triumph Int. (SC) Limited are based solely on the judgment of Triumph Int. (SC) Limited's personnel. These market recommendations may or may not be consistent with the market positions or intentions of Triumph Int. (SC) Limited, its affiliates and employees. The market recommendations of Triumph Int. (SC) Limited are based upon information believed to be reliable, but Triumph Int. (SC) Limited 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 and Spot Metal Trading.

No guarantees of profit

There are no guarantees of profit or freedom from loss in Foreign Exchange Trading and Spot Metal Trading. Customer has received no such guarantees from Triumph Int. (SC) Limited or from any of its representatives. Customer is aware of the risks inherent in Foreign Exchange Trading and Spot Metal Trading and is financially able to bear such risks and withstand any losses incurred. And the customer cannot claim back the losses for reason.

Customer may not be able to close open positions

Due to market liquidity depth or other circumstances Triumph Int. (SC) Limited may be unable to close out customer's position at the level specified by customer, and customer agrees Triumph Int. (SC) Limited will bear no liability for failure to do so.

Trading ahead and along

Triumph Int. (SC) Limited its personnel and affiliates and various other parties may execute orders at the same or better prices ahead of a customer order.

Third Party agents

In the event that customer grants trading authority or control over to a third party (“Fund Manager”), whether on a discretionary or non-discretionary basis, Triumph Int. (SC) Limited shall in no way be responsible for reviewing customer's choice of such Fund Manager or for making any recommendations with respect thereto. Triumph Int. (SC) Limited makes no representations or warranties concerning any Fund Manager; Triumph Int. (SC) Limited shall not be responsible for any loss to customer occasioned by the actions of the Fund Manager; and Triumph Int. (SC) Limited does not, by implication or otherwise, endorse or approve of the operating methods of the Fund Manager. If customer gives the Fund Manager authority to exercise any of its rights over his trading customer does so at customer's risk. Even though the undersigned grants authority to Fund Manager, client should be diligent and closely scrutinize all trading activity. Triumph Int. (SC) Limited provides online account access to view the status of their trading(s), whereby client may view their account value and account activity.

Internet Trading

Since Triumph Int. (SC) Limited does not control signal power, its reception or routing via Internet, configuration of customer's equipment or reliability of its connection, Triumph Int. (SC) Limited 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 Triumph Int. (SC) Limited, customer, any market, or any settlement or clearing system when customer trades online (via Internet).

Quoting Errors

Should a quoting error occur due to a mistype of a quote by any electronic means (including responses to customer requests), Triumph Int. (SC) Limited 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 Triumph Int. (SC) Limited, 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 Triumph Int. (SC) Limited has posted on our screen, Triumph Int. (SC) Limited 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.

“PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS”