Risk Disclosure

RISK DISCLOSURE

1. Scope of the Policy

This Risk Disclosure Policy (the "Policy") is provided to the Company's Clients and potential Clients in accordance with applicable laws and regulations. Company's Clients and potential Clients in accordance with applicable laws and regulations. The Policy is integrated and/or forms part of the Terms and Conditions (hereinafter, the "T&C") of the Company, which must be accepted by the Clients. Before proceeding with the opening of the trading account and carrying out operations, we recommend our clients to trading, we recommend our Clients and/or prospective Clients to carefully read the following risk disclosures and warnings. risk disclosures and warnings contained in this document with respect to the Financial Derivative Instruments offered by the Company Derivative Financial Instruments offered by the Company for trading (such as CFDs). However, it is emphasized that this Policy may not cover all risks associated with CFD trading.

2. General Risk Warning

The Client who chooses to operate with financial instruments should not proceed with any investment without having prior knowledge of the risks associated with the operation of such complex and risky products and/or financial instruments offered. financial instruments offered. Clients should understand that all investments carry risks and may not be suitable for all investors and may may not be suitable for all investors and may result in a loss of the invested capital. It is the Client's responsibility to be aware of all the risks associated with CFD trading and to seek advice from an independent professional expert if in any doubt. The Company does not provide this service.

3. Trading Platform

The Client is warned that by operating on an electronic platform, he/she exposes him/herself to the risk of financial loss, which may derive, among other things, from:
a) Failures in the devices, software and poor quality of the Client's connection.
b) Failure, malfunction or misuse of the Company's or Customer's hardware or software.
c) Improper operation of the Customer's equipment.
d) Incorrect configuration of the Customer's terminal.
e) Delays in the updates of the Client's terminal.

Customer acknowledges that only one order is allowed to be queued at a time. After the Customer submits an order, any additional instructions sent by him are ignored, and the message "orders are blocked" is displayed until the first instruction is executed. is displayed until the first instruction is executed.

Customer agrees that the only reliable source of quote stream information is the Live Server Quote Base. of the live Server. The Quote Base on the Customer's Terminal is not considered a reliable source of quote flow information, as the connection between the Customer's Terminal and the Server is not The Quote Base on the Client Terminal is not considered a reliable source of quote flow information, since the connection between the Client Terminal and the Server may be interrupted at some point in time, which may result in at some point, which may result in some quotes not reaching the Client Terminal.

The Customer acknowledges that by closing the order placement/deletion window or the order opening/closing window, the order sent to the Server will not be cancelled. position, the order that has been sent to the Server will not be cancelled.

Orders can be executed sequentially while in the queue, but it is not possible to execute several orders simultaneously from the same Customer Account. orders simultaneously from the same Customer Account.

The Customer understands that by closing the order, the order will not be cancelled.

If the Customer has not received confirmation of the execution of the order previously submitted but chooses to repeat the order, he/she accepts the risk of carrying out two transactions instead of one. The Customer acknowledges that if the pending order has already been executed and decides to send an instruction to modify its levels, only the instruction to modify the levels will be executed. its levels, only the instruction to modify the Stop Loss and/or Take Profit levels on the open position when the pending order was triggered will be executed. open when the pending order was triggered.

4. Risks and precautions related to transactions with Complex Financial Instruments (Financial Derivatives such as CFDs). (Financial Derivatives such as CFDs).

4.1. General

Although Financial Derivative Instruments can be used to manage investment risk, some of these products may not be appropriate for many investors, some of these products may not be appropriate for many investors. Different Derivative Financial Instruments Derivatives carry different levels of risk exposure, and in deciding whether to trade in such instruments, the Client should be aware of the risks and factors detailed in this document, the Client should be aware of the risks and factors detailed in this document. However, it should be noted that this document may not cover all the risks and other crucial aspects of derivative financial instruments, such as Contracts for Difference. derivatives, such as Contracts for Difference (CFDs). Trading CFDs is HIGHLY SPECULATIVE AND RISKY, and is not suitable for all members of the not suitable for all members of the general public.

The Client should not engage in derivative transactions unless he/she understands the nature of the contract he/she is entering into and the magnitude of the risk exposure. the nature of the contract he is entering into and the magnitude of the risk exposure. In addition, he should ensure that the contract is appropriate to their circumstances and financial position. Certain strategies, such as a spread or straddle position "spread" or "straddle," can carry risks as significant as a simple "long" or "short" position.

Although derivatives can be used to manage investment risk, there are investments that are not appropriate for a wide variety of investors, there are investments that are not appropriate for a wide variety of investors.

Different instruments carry different levels of risk exposure, and when making a decision to trade in such instruments, it is important that you consider the following aspects. trading in such instruments, it is important that you consider the following aspects.

• Understand how Contracts for Difference (CFDs), Underlying Assets and Markets work. CFDs are derivative financial instruments whose value is derived from the prices of the underlying assets or markets to which they refer (e.g. currencies, stock indices, equities, metals underlying assets or markets to which they refer (e.g., currencies, stock indices, stocks, metals, index futures, forward contracts, etc.). Although the Company establishes prices through a proprietary algorithm, these prices have their own algorithm, these prices have their origin in the Underlying Assets/Markets.

• It is therefore crucial that the Client understands the risks associated with trading in the underlying asset or market in question, as changes in the price of the underlying asset or market can be underlying market, as variations in the price of the underlying asset or market will impact on the profitability of your trade. will have an impact on the profitability of your operation.

The Company will not provide the Client with any advice in relation to CFDs, the Underlying Assets and the Markets, nor will it issue investment recommendations. Markets, nor will it issue investment recommendations. In the event that the Client does not understand the associated risks, it is recommended to seek advice and consultation from an independent financial advisor.

4.2. Leverage

Transactions in foreign exchange and Derivative Financial Instruments involve a high level of risk. The amount of initial margin may be small compared to the value of the foreign exchange or derivative contract, which implies that the transactions are "leveraged" or "leveraged". A relatively small change in the market can have a significantly greater impact on the funds that the Client has deposited or will be required to deposit; this can work against as well as for the Client.

The Client faces the risk of losing the entire initial margin funds and any additional capital deposited with the Company to support its position. deposited with the Company to support its position. If the market moves against the Client's position and/or margin requirements increase, the Company may require the Client to deposit funds to support the position. position and/or margin requirements increase, the Company may require the Client to deposit additional funds within a short period of time in order to additional funds within a short period to maintain its position. Failure to comply with a request to failure to comply with a request to deposit additional funds may result in the closing of your position(s) by the Company on your behalf, and the Client will be liable for any resulting losses or deficits, not excluding the Negative Balance Protection clause set forth in the Negative Balance Protection clause stipulated in the General Terms and Conditions.

4.3. Risk Mitigation Orders or Strategies

The implementation of certain orders (e.g., stop-loss orders, where permitted under local law, or "stop limit" orders), with the intention of restricting losses to certain amounts, may not be appropriate because market because market conditions may prevent the execution of such orders, such as in cases of market illiquidity. in the market. Strategies that involve combinations of positions, such as spread and straddle positions, can be just as risky as taking simple long or short positions. Therefore, Stop Limit and Stop Loss orders cannot guarantee loss limitation.

Trailing Stop and Expert Advisor cannot ensure loss limitation.

4.4. Levels of Variability

The trading of certain Derivative Financial Instruments involves transactions in wide intraday ranges, characterized by volatile price movements. Therefore, it is imperative that the Client carefully consider both the potential benefits and both the potential benefits and the associated risks. The value of these derivatives is derived directly from the price of the Underlying Asset to which they refer, such as currency pairs, stock indexes, metals, commodities, forwards, or other assets available for CFD trading with the Company, at the Company's discretion from time to time. at the Company's discretion from time to time.

Derivative Financial Instruments and the associated Underlying Markets may exhibit significant volatility. The prices of these instruments, as well as the Underlying Asset, can experience rapid fluctuations and wide ranges, reflecting unpredictable events or changes in conditions beyond the control of both the Company and the Underlying Asset. wide ranges, reflecting unforeseeable events or changes in conditions beyond the control of both the Client and the Company. control of both the Client and the Company.

Under certain market conditions, the execution of a Client's order at the indicated prices may become impossible, resulting in losses. become impossible, resulting in losses. The prices of the Derivative Financial Instruments and the underlying Asset will be subject to a variety of influences, such as changes in supply and demand relationships, political will be subject to a variety of influences, such as changes in supply and demand relationships, governmental, agricultural and trade policies governmental, agricultural and trade policies, national and international political and economic events, as well as the prevailing psychological characteristics of the relevant market.

4.5. Margin

The Client acknowledges and accepts that, regardless of any information provided by the Company, the value of the Derivative Financial Instruments may fluctuate upwards or downwards, the value of the Derivative Financial Instruments may experience upward or downward fluctuations, and there is even the possibility that the investment may lose its value completely. This situation is attributable to the margin system applied to such transactions. This situation is attributable to the margin system applied to such transactions, which generally involves a relatively modest deposit or margin compared to the total value of the investment. modest in comparison to the total value of the contract. Therefore, a small movement in the Underlying Market may have a disproportionate impact on the value of the contract. can have a disproportionately significant impact on the Client's position. In the event that the movement of the Underlying Market is favorable to the Client, the Client may obtain significant benefits; however, a similarly small movement in the opposite direction can quickly result in the loss of the entirety of the Client's of the deposit or capital invested by the Client.

4.6. Availability of Funds

Some of the Underlying Assets may lack immediate liquidity due to a decrease in demand for the Underlying Asset. demand for the Underlying Asset. As a result, the Client may have difficulty obtaining information on their value or the magnitude of the associated risks. information about their value or the magnitude of the associated risks.

4.7. Contracts for Differences

Contracts for Difference (CFDs) offered by Fibra FX for trading are non-deliverable spot transactions that offer the opportunity to profit through changes in the Underlying Asset. deliverable spot transactions that offer the opportunity to profit from changes in the Underlying Asset. If the movement of the Underlying Asset is favorable to the Client, the Client can make significant profits. However, a small unfavorable market movement can quickly result in the total loss of the Client's deposit. Client's deposit. Therefore, the Client is advised not to engage in CFD trading unless he/she is willing to assume the associated risks, including the possibility of losing their entire investment.

4.8. Investment Operations with Conditional Liability

Investment transactions with contingent liability, which involve leverage, require the Client to make staggered payments against the purchase price instead of paying the purchase price, require the Client to make staggered payments against the purchase price rather than paying the full amount immediately. the full amount immediately. Margin requirements will vary depending on the underlying asset of the Financial Instrument. These requirements may be set on a fixed basis or calculated on the basis of the current price of the underlying instrument, and are detailed in detail in the underlying instrument, and are detailed on the Company's website.

In the case of trading Contracts for Difference, the Client is exposed to the risk of losing the entirety of the funds deposited to open and maintain a position. the totality of the funds deposited to open and maintain a position. If the market evolves against the Client, the Client may be required to contribute substantial additional funds at short notice to maintain the position. In the event that the Client does not comply with this requirement within the established term, his position could be liquidated at a loss, and will be liable for the resulting shortfall. It is important to note that the Company is under no obligation to notify the Client of any Margin Call to maintain a loss-making position. a position at a loss. Even if a transaction does not involve leverage, it could still generate obligation to make additional payments in certain circumstances, over and above any amount paid at the time of signing the transaction. paid at the time of signing the contract by the Client.

Investment transactions with contingent liability that are not carried out on or under the regulations of a recognized or designated investment regulations of a recognized or designated investment exchange may significantly increase the risks to the Client. risks to the Client.

4.9. Treatment of Warranties

The handling of collateral deposited by the Client with the Company will vary according to the nature of the transaction and the place where it takes place. of the transaction and the place where it takes place. The manner in which such collateral is handled may differ considerably depending on whether the Client trades on a recognized or designated investment exchange. exchange or a designated exchange. In this case, the rules of that exchange and its associated clearing house will apply. clearing house will apply. On the other hand, if the transaction is carried out off-exchange, the treatment of collateral may be different. treatment of collateral may be different.

It is important to keep in mind that the guarantees deposited could lose their status as property of the Client once operations are executed on their behalf. Even in the event that the operations result ultimately profitable, the Client may not recover the same assets that he initially deposited and may have than accept payment in cash.

4.10. Trading Interruptions

Under certain trading conditions, liquidation of a position may be difficult or even impossible. This can happen, for example, during periods of rapid price movements, where the price experience significant increases or decreases in a trading session, leading to suspension or restriction of trade according to the rules of the corresponding exchange.

It is important to note that setting a Stop Loss does not necessarily guarantee that the losses of the Customer are limited to previously established quantities, since market conditions may make that it is impossible to execute said order at the specified price. Furthermore, under certain market conditions, The execution of a Stop Loss order could be worse than its set price, which could result in losses greater than anticipated.

4.11. Slippage

Slippage refers to the disparity between the anticipated price of a transaction in a CFD and the actual price at which the transaction is executed. This phenomenon frequently occurs during periods of higher volatility, such as in news event situations, where it is difficult to execute an order at the specific desired price, especially when using market orders. Furthermore, the sliding also may manifest itself when executing voluminous orders, since there may not be enough interest at the level of desired price to maintain execution at the expected price of the operation.

5. Fees and Taxes

The provision of services by the Company to the Client entails fees, which are detailed in the Company's website. Before starting any operation, it is imperative that the Client obtains complete information on all fees, commissions and charges for which you will be responsible. The responsibility for verifying possible changes in charges lies with the Client.

In the event that a charge is not stated in monetary terms (for example, it is expressed as a percentage of the contract value), it is crucial that the Client ensures that they understand the amount of such charges. The Company reserves the right to modify its charges at any time.

There is a possibility that the Client's operations with any Financial Instrument are or become subject to taxes and/or any other duty, as a result of changes in legislation or in the personal circumstances of the Client. The Company does not ensure exemption of any tax and/or stamp duty. It is important to note that the Company does not provide tax advice.

The Client assumes responsibility for any taxes and/or any other duties that may arise in relation to his operations.

It is noted that taxes are subject to change without prior notice.

It should be noted that the prices established by the Company for CFD trading are determined for the latter and may differ from prices reported elsewhere. The Company's trading prices represent the offer that the Company is willing to make. sell CFDs to their Clients at the time of the transaction. Consequently, these prices can do not directly reflect real-time market levels at the time of sale of the CFDs.

6. Third Party Risks

The Company may transfer funds received from the Client to a third party (such as a broker, a bank, an exchange, a settlement agent, a clearing house or an OTC counterparty located outside Mauritius) for retention or control, for the purpose of carrying out a transaction through or with that entity, or to comply with the Client's obligation to provide collateral (such as initial margin requirement) in relationship with a transaction. It should be noted that the Company does not assume responsibility for the actions or omissions of any third party to which funds received from the Client are transferred.

The legal and regulatory framework that applies to any external entity will be different from that of Mauritius, and in situations of insolvency or other equivalent failure on the part of said entity, the funds of the Client may receive different treatment than if they were in an Account Segregated in Mauritius. The Company assumes no responsibility for the solvency, acts or omissions of any third party mentioned in this clause.

Funds that the Company transfers to a third party may be held in an omnibus account, which could make it difficult to separate it from the Client's or third party's money. In situations of insolvency or other similar proceedings related to said third party, The Company may have only one unsecured claim on behalf of the Customer, stating the Client at the risk that the funds received by the Company from the third party will be insufficient to cover the Client's claims in respect of the relevant account. The Company does not assume any responsibility for resulting losses.

The Company has the possibility of depositing the Client's funds with a custodian who may own a security interest, lien or right of set-off over such funds. Besides, a bank or broker with which the Company carries out transactions could have interests that go in against the interests of the Client.

7. Insolvency

The insolvency or default on the part of the Company, or the insolvency or default of any entity involved in transactions carried out by the Company on behalf of the Client (including, but not limited to, brokers, execution venues and liquidity providers), may give rise to the liquidation or closing of positions without requiring the consent of the Client. In the remote case of insolvency of the Company, it is important to note that the client's segregated funds cannot be used to compensate the Company's creditors.

8. Communication between the Client and the Company

The Customer assumes responsibility for any financial loss that may arise due to receipt late or total lack of notifications by the Company.

Customer acknowledges that information transmitted by unencrypted email is not It is protected against unauthorized access.

The Company does not assume responsibility in the event that unauthorized persons access information, such as email addresses, electronic communication, personal data or credentials, during transmission between the Company and the Client, whether through the Internet, other communication networks, telephone or other electronic means.

The Client assumes full responsibility for the risks associated with the internal messages of the Information System. Online Trading of the Company that are not delivered when sent to the Client by the Company.

9. Force Majeure Events

a) In situations of a Force Majeure Event, the Company's ability to manage the execution of the Client's Orders or fulfilling its obligations under the agreement with the Client could be affected. Consequently, the Client could face financial losses.

b) The Company will not be responsible or liable for any loss or damage arising from any failure, interruption or delay in the performance of its obligations under the Agreement of the Customer when such failure, interruption or delay is the result of a Force Majeure Event.

10. Abnormal Market Conditions

In situations of Abnormal Market Conditions, the Client acknowledges that the period for execution of Orders may be prolonged, it may be impossible to execute Orders at the indicated prices, or even Orders may not be executed at all.

11. Foreign Currency

If a Financial Instrument is traded in a currency other than the currency of the Client's country of residence, Any variation in exchange rates may negatively impact its value, price and performance, which could cause losses for the Client.

12. Advice and Recommendations

The Company will refrain from offering the Client guidance on the advantages of a transaction nor will it provide investment advice. The Client acknowledges that the Services do not cover the provision of investment advice on CFDs or the Underlying Markets.

The Client will be solely responsible for participating in Transactions and for making relevant decisions based at his own discretion. By requesting the Company to carry out any Transaction, the Client affirms which has taken full responsibility for carrying out its own independent assessment and investigation into the risks associated with the Transaction. Demonstrates sufficient knowledge, sophisticated understanding of the market, professional advice and experience necessary to carry out your own evaluation of the merits and risks of any Transaction. The Company makes no guarantees regarding the suitability of the products traded. under the Client Agreement and assumes no fiduciary duty in relation to Client.

The Company has no obligation to provide the Client with legal, tax or other related advice. with no Transaction. In case of doubts about possible tax obligations, the Client is recommended to search advice from independent professionals. The Client is advised that tax laws may change occasionally. From time to time and at the discretion of the Company, it may provide the Client with information, recommendations, news, market comments or other information through its Website or the Platform of Fibra FX, but this does not constitute a service. In such cases:

• The Company assumes no responsibility for such information.

• The Company makes no representations, warranties or assurances as to the accuracy, correctness or completeness of that information, nor in relation to the tax or legal consequences of any associated Transaction. This information is provided exclusively to allow the Client make your own investment decisions and does not constitute investment advice or promotions financial statements not requested from the Client.

• If the document includes restrictions on the person or category of people for whom it is intended, Customer agrees not to share it with such person or category of persons.

• The Customer accepts that, prior to shipment, the Company may have acted on its own behalf based in the information provided. The Company makes no representations regarding the timing of receipt by the Client and cannot guarantee that the Client will receive such information at the same time as other clients.

It is recognized that market commentary, news or other information provided or available to through the Company are subject to change and may be withdrawn at any time without notice.

13. No Profit Guarantees

The Company does not guarantee profits or the prevention of losses during operations. The Client has not received any such guarantees from the Company or any of its representatives. The Client recognizes the risks inherent in trading and has the financial capacity to assume such risks. risks and face any losses that may arise.

14. Regulatory and Legal Risk

Changes in laws and regulations can have a significant impact on a Financial Instrument and in investments within a sector or market. Legislative or regulatory alterations by of a government, a regulatory body, or judicial decisions can increase operating costs of the business, reduce the attractiveness of investment and modify the competitive dynamics, thus affecting the the opportunities for profit on the investment. This risk is unpredictable and may vary from market to market.