CPay Finance (hereinafter the "Company") does not warranty the initial capital of the Users' portfolio or its value at any time or any money invested in any Financial Instrument. The User completely acknowledges and accepts that he/she runs a great risk of incurring losses and damages as a result of the purchase and/or sale of any Financial Instrument and accepts and confirms that he is prepared to take on this risk.

The User completely acknowledges and accepts that, regardless of any information which may be offered by the Company, the value of any investment in Financial Instruments may fluctuate downwards or upwards and it is even likely that the investment may become of no value.

There is a high risk that the User might sustain losses/damages to all or some of the capital/monies invested. An investment in any Financial Instrument carries a high degree of risk and the money that is invested might not remain the same, since the User undertakes the risk of sustaining a loss/damage, whilst, at the same time, there is a possibility that a profit/return will materialize.

The User declares that he has read, understands and accepts the following:

1. Information of the previous performance of a Financial Instrument and/or Leading traders (as defined in the Company's Customer Agreement) does not guarantee its current and/or future performance. The use of historical data does not establish a binding or reliable prediction as to the future performance of the corresponding Financial Instruments which the said information mentions.

2. Trading on the electronic trading system(s) carries a high risk since there is a large exposure to risks associated with the online system, including, but not limited to, the failure of hardware and/or software. The result of any system failure may be that the User's request is not executed according to instructions or not executed at all.

3. Some Financial Instruments might not become instantly liquid as a result of reduced demand; for example, when the User may not be in a position to sell them or easily obtain data on the price of these Financial Instruments or the degree of the related risks.

4. A Financial Instrument related to foreign markets may involve risks that are different from the usual risks of

the markets in the User's country of residence. In some circumstances, these risks may be larger. The outlook of profit or loss from transactions in foreign markets is also influenced by exchange rate fluctuations.

5. In the event of a firm/company going insolvent/bankrupt, the specific legislation or local rules governing the protection of User's money which is transferred for purposes of trading in Financial Instruments, may have an impact on the extent to which the User may recover money. In some jurisdictions, property/ money which has been specifically identifiable as the User's own property/money, will be appropriated in the same manner as cash for purposes of distribution in the event of a shortfall.

The User understands that commissions, fees and other charges may be applicable, and as such these charges will affect/reduce the profit (if any), or increase the loss. Before trading in financial instruments, the User should be familiar with all of the charges for which he will be liable, whether such charges are at a predetermined amount or variable.

All transactions effected for the User's account(s) are at the User's sole risk and the User shall be solely liable under all circumstances. The Company will not be held responsible for any delays in transmission, delivery or execution of the User's request(s) due to malfunctions of communications facilities or other causes. In case of any fault in pricing process, typing errors, entering errors and quoting errors through the electronic trading system and/or phone, the Company is entitled to make any necessary modifications to the User's trading account in which the mistake took place. Any conflicts regarding pricing will be solved by checking the actual prices in the market at the specific time at which the error occurred. The User should review his trading history and is responsible for reporting any mistakes found on the account trading log within 24 hours after the transaction is executed.

The User understands that his trades in Financial Instruments may be or become subject to tax and/or any other duty, for example, due to alterations in legislation or his personal conditions. The Company does not guarantee that there will be no outstanding tax and/or any other stamp duty incurred. The User shall be accountable for any taxes and/or any other duty which may accumulate in respect of his trades.

Further Risks Applicable to All Users of Our Site.

Cross-default risk with account. All funds and trading in securities will be held and processed through an account held by the Company. Although the Company will maintain records and books to differentiate Users and their funds and equity, no funds or equity will be held in individual accounts. Trading in an account subjects your account to cross-default risk based on the potential defaults in other accounts. In other words, defaults in accounts unrelated to your account could subject your account to default and loss of funds or liquidation of securities if such defaults are large enough in the aggregate to place the entire Company's account in default

Foreign currency risk. Any investments denominated in foreign currencies will be subject to fluctuations in currency rates and currency conversion fees.

General investment risk. Investments in securities involve risk of loss of part or all of an investor's capital. Users should be prepared to bear the loss of all or some of their investments. In addition, the value of the securities held by Users is subject to market risk, including changes in economic conditions, growth rates, profits, interest rates and the market's perception of these securities.

The net asset value of a User's account will increase and decrease, reflecting fluctuations in the value of securities held in the account. You should not use the Company's website or Services unless you are able to bear a complete loss of your investment and have the relevant experience and understanding to assess any investment's suitability in light of your circumstances and financial position.

Lack of assessment of Lead Traders. Lead Traders may employ a variety of investment strategies in their sole discretions and may trade in public securities that cover a broad range of industries. Users are responsible for choosing to follow Lead Traders whose investment strategies are appropriate for their own investment objectives.

The Company does not evaluate or otherwise assess the investment success or history of any Lead Trader and cannot guarantee that any investment by a User in the same security as a Lead Trader will result in a positive return on investment, or that any Lead Trader will pursue an investment strategy appropriate to any particular User.

Lack of complete portfolio information. Although Users of the Site may view other User's profile pages, they do not have access to information about the full portfolio of any other User, including a User's allocations to any stocks or use of specialized trades such as limit orders.

User profile pages also do not include information about stocks held outside the Site.

As a result, it may be difficult, if not impossible, for a User to ascertain the overall levels of risk and the larger investment objectives associated with another User's or Lead Trader's portfolio. Without this information, it may be difficult for a User to assess whether a particular stock is appropriate for his or her own portfolio.

The Company must maintain a margin. The Company is subject to initial and maintenance margin requirements of exchanges, reguHelveticaNeue-Lightrs and the Company's account. These requirements may be modified at any time and possibly without prior notice to the Company. Although the Company will monitor the Company's account to safeguard that it contains sufficient equity to meet all margin requirements, there may be a delay in the Company's ability to comply with changing margin requirements or above average margin trading by Users. As a result, your margin trades may be rejected or delayed even though your individual Account meets the margin requirements. In addition, certain of your positions may be liquidated without your consent in order to satisfy the Company's account margin requirements.

You may not receive back the actual assets that you had in your Account and may have to accept any available payment in cash. Your actual buy or sell price may differ from the market data provided on the Company's website. You understand that you will receive a price at which the order is executed in the market, whether you execute a market or limit order. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace, or the placement of large orders, the execution price you receive may differ from the quote published at the time of order entry, and you may receive partial executions at different prices. You understand that the Company is not liable for any such price fluctuations. Securities may open for trading at prices substantially higher or lower than the previous closing price or the anticipated price.

Prices obtained by Users following Lead Traders may vary. There may be variations in price based on the timing of trades and fluctuations in the market. Prices may also vary based on the different trading strategies available to

Lead Traders and following Users. Although Lead Traders can place limit orders, Users using auto-follow services will not be able to follow limit orders.

You may be unable to follow a Lead Trader. In order to follow a selected Lead Trader, a User must have sufficient funds in his or her Account and be approved for the same types of specialized trading (e.g. short trades, margin trading) as such Lead Trader.

Following multiple Lead Traders may lead to certain inefficiencies in your portfolio. If you decide to follow multiple Lead Traders using an automatic follow instruction to the Company and such Lead

Traders have conflicting investment strategies (e.g. one Lead Trader buys Security A while the other Lead Trader sells Security A), you may incur excess fees and commissions that you would not otherwise incur if you were manually following your selected Lead Traders.

Margin trading. Margin trading is highly risky and may result in the loss of funds greater than you have deposited in your Account with the Company. The movement in the market price of your investment will affect the amount of margin payment you will be required to make.

The Company can force the sale of securities or other property in your Account if the equity in your margin Account falls below the current maintenance margin requirements of the Company, without notice to you and without a prior margin call. The Company may increase or decrease its current margin requirements at any time and is not required to provide you with advance notice. You are not entitled to choose which securities in your margin Account are liquidated or sold to meet your margin or call requirements. Day trading. The practice of purchasing and selling the same security within one day's trading is commonly referred to as "day trading." The Company does not promote, recommend or endorse day trading using its Site. Day trading is extremely risky and is not appropriate for users with limited resources, limited investment or trading experience or a low risk tolerance.

Additional liability from indemnification and limitation of liability provisions.

This Agreement contains provisions limiting the liability of the Company to you, and providing for its indemnification by you in certain circumstances, provided that the Company has met its standard of care. Under these provisions, you may be exposed to liability for your actions on the Site and potentially be required to indemnify the Company for any losses incurred by it based on your activities on the Site.

Failure of trading facilities. As with all websites and trading systems, the Company website may become vulnerable to temporary disruption, failure of hardware or software and connectivity or electricity issues. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all.

Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house, and other third parties.

Cyber-security risk. Although the Company has installed commercially reasonable safeguards, the Company's website may be vulnerable to cyber-security threats that may compromise your personal information. In addition, you may be subject to potential losses from transmission errors, technical faults, malfunctions, network overloads, viruses, system errors, delays in execution, malicious blocking of access or tampering with transactions by third parties or internet interruptions.

Insolvency of the Company's service providers. In the event of insolvency (or similar) of any of the Company's service providers, you may experience delays in accessing your Account or making withdrawals from your Account. Additional Risks Applicable to Lead Traders.

You may be subject to higher scrutiny from securities reguHelveticaNeue-Lightrs. Since other Users will be following your trading activity, you may become subject to additional scrutiny by securities reguHelveticaNeue-Lightrs. If you trade in multiple jurisdictions, you may be subject to such scrutiny in multiple countries with varying regulations.

You may be subject to litigious actions by following Users. Despite the agreement of each following User to engage in trading using his or her own discretion and to waive certain claims against a Lead Trader, if a dissatisfied User chooses to bring a legal proceeding against a Lead Trader, you will incur defense costs and possible legal liability.

Risk Disclosure Policy
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