Unless a client knows and fully understands the risks involved in each Financial
Instrument, they should not engage in any trading activity. You should not risk
more than you are prepared to lose. Costa Markets Fintech will not provide clients
with any investment advice in relation to investments, possible transactions in
investments, or Financial Instruments, neither will we make any investment
recommendations. Clients should consider which Financial Instrument is suitable
for them according to their financial status and goals before opening an
account with Costa Markets Fintech.

If a client is unclear about the risks involved in trading in Financial Instruments, then they should
consult an independent financial advisor. If the client still doesn’t
understand these risks after consulting an independent financial advisor, then
they should refrain from trading at all. Purchasing and selling Financial
Instruments comes with a significant risk of losses and damages and each client
must understand that the investment value can both increase and decrease,
clients they are liable for all these losses and damages, which could result in
more than the initial invested capital once they make the decision has been
made to trade. 

Acknowledgment  Technical Risk 

The Client shall be responsible for the risks of financial losses caused by the failure of
information, communication, electronic and other systems. The result of any
system failure may be that his order is either not executed according to his
instructions or it is not executed at all. The Company does not accept any
liability in the case of such a failure. 

While trading through the
Client Terminal the Client shall be responsible for the risks of financial
losses caused by: 

(a)   Client’s or Company’s hardware or software failure, malfunction or misuse; 

(b)   Poor Internet connection either on the side of the Client or the Company or both, or
interruptions or transmission blackouts or public electricity network failures
or hacker attacks, an overload of connection; 

(c)    The wrong settings in the Client Terminal; 

(d)   Delayed Client Terminal updates; 

(e)   The Client disregarding the applicable rules described in the Client Terminal user
guide and in the Company’s Website. 

Abnormal Market Conditions 

The Client acknowledges that under Abnormal Market Conditions the period during which the Instructions
and Requests are executed may be extended. 

Trading Platform 

The Client acknowledges that only one Request or Instruction is allowed to be in the queue at one time.
Once the Client has sent a Request or an Instruction, any further Requests or
Instructions sent by the Client are ignored and the “Order is locked” message
appears until the first Request or Instruction is executed. 

The Client acknowledges that the only reliable source of Quotes Flow information is that of the
real/live Server’s Quotes Base. Quotes Base in the Client Terminal is not a
reliable source of Quotes Flow information because the connection between the
Client Terminal and the Server may be disrupted at some point and some of the
Quotes simply may not reach the Client 

Terminal 

The Client acknowledges that when the Client closes the order placing/modifying/deleting window or the
position opening/closing window, the Instruction or Request, which has been
sent to the Server, shall not be canceled. 

In case the Client has not received the result of the execution of the previously sent Instruction but
decides to repeat the Instruction, the Client shall accept the risk of making
two Transactions instead of one, however, the client may receive an “Order is
locked” message as described in point 2.5 above. 

The Client acknowledges that if the Pending Order has already been executed but the Client sends the
Instruction to modify its level and the levels of If-Done Orders at the same
time, the only Instruction, which will be executed, is the instruction to modify
Stop Loss and/or Take Profit levels on the position opened when the Pending
Order triggered. 

Communication 

The Client shall accept the risk of any financial losses caused by the fact that the Client has
received with delay or has not received at all any notice from the Company. 

The Client acknowledges that the unencrypted information transmitted by email is not protected from any
unauthorized access. 

The Client is fully responsible for the risks in respect of undelivered trading platform internal
mail messages sent to the Client by the Company as they are automatically
deleted within 3 (three) calendar days. 

The Client is wholly responsible for the privacy of the information received from the Company and
accepts the risk of any financial losses caused by the unauthorized access of a
third party to the Client’s Trading Account. 

The Company has no responsibility if authorized/unauthorized third persons have access to
information, including electronic addresses, electronic communication, and
personal data, access data when the above are transmitted between the Company
or any other party, using the internet or other network communication
facilities, telephone, or any other electronic means.

Force Majeure Event 

In case of a Force Majeure Event, the Client shall accept the risk of financial losses. 

Risk Warning Notice for Foreign Exchange and Derivative Products 

This notice cannot disclose all the risks and other significant aspects of foreign exchange and
derivative products such as futures, options, and Contracts for Differences.
You should not deal in these products unless you understand their nature and
the extent of your exposure to risk. You should also be satisfied that the
product is suitable for you in light of your circumstances and financial
position. Certain strategies, such as a “spread” position or a “straddle”,
maybe as risky as a simple Long or Short position. 

Although forex and derivative instruments can be used for the management of investment risk, some of these
products are unsuitable for many investors. You should not engage in any
dealings directly or indirectly in derivative products unless you know and
understand the risks involved in them and that you may lose entirely all of
your money. Different instruments involve different levels of exposure to risk
and in deciding whether to trade in such instruments you should be aware of the
following points: 

Effect of Leverage 

Under Margin Trading conditions even small market movements may have a great impact on the Client’s
Trading Account. It is important to note that all accounts trade under the
effect of Leverage. The Client must consider that if the market moves against
the Client, the Client may sustain a total loss greater than the funds
deposited. The Client is responsible for all the risks, financial resources the
Client uses, and for the chosen trading strategy. 

It is highly recommended that the Client maintains a Margin Level (percentage Equity to Necessary Margin
ratio which is calculated as Equity / Necessary Margin * 100%) of not lower
than 1,000%. It is also recommended to place Stop Loss to limit potential
losses, and Take Profit to collect profits when it is not possible for the
Client to manage the Client’s Open Positions. 

The Client shall beresponsible for all financial losses caused by the opening of the position
using temporary excess Free Margin on the Trading Account gained as a result of
a profitable position (canceled by the Company afterward) opened at an Error
Quote (Spike) or at a Quote received as a result of a Manifest Error. 

High Volatile Instruments 

Some Instruments trade within wide intraday ranges with volatile price movements. Therefore, the Client
must carefully consider that there is a high risk of losses as well as profits.
The price of Derivative financial instruments is derived from the price of the
underlying asset to which the instruments refer (for example currency, stock,
metals, indices, etc). Derivative financial instruments and related markets can
be highly volatile. The prices of instruments and the underlying asset may
fluctuate rapidly and over wide ranges and may reflect unforeseeable events or
changes in conditions, none of which can be controlled by the Client or the
Company. Under certain market conditions, it may be impossible for a Client’s
order to be executed at declared price leading to losses. The prices of
instruments and the underlying asset will be influenced by, amongst other
things, changing supply and demand relationships, governmental, agricultural,
commercial and trade programs and policies, national and international
political and economic events and the prevailing psychological characteristics
of the relevant market place. Therefore, a Stop Loss order cannot guarantee the
limit of loss. 

The Client acknowledges
and accepts that, regardless of any information which may be offered by the
Company, the value of Instruments may fluctuate downwards or upwards and it is
even probable that the investment may become of no value. This is owed to the
margining system applicable to such trades, which generally involves a
comparatively modest deposit or margin in terms of the overall contract value
so that a relatively small movement in the underlying market can have a
disproportionately dramatic effect on the Client’s trade. If the underlying
market movement is in the Client’s favor, the Client may achieve a good profit,
but an equally small adverse market movement can not only quickly result in the
loss of the Client’s entire deposit, but may also expose the Client to a large
additional loss. 

Liquidity
 

Some of the underlying assets may not become immediately liquid as a result of reduced demand for the
underlying asset and the Client may not be able to obtain the information on
the value of these or the extent of the associated risks. 

Futures 

Transactions in futures involve the obligation to make or to take, delivery of the underlying asset of
the contract at a future date, or in some cases to settle the position with
cash. They carry a high degree of risk. The gearing or leverage often obtainable
in futures trading means that a small deposit or down payment can lead to large
losses as well as gains. It also means that a relatively small movement can
lead to a proportionately much larger movement in the value of your investment,
and this can work against you as well as for you. Futures transactions have a
contingent liability, and you should be aware of the implications of this, in
particular the margining requirements, which are set out below. 

Contracts for Differences 

The CFDs available for trading with the Company are non-deliverable spot transactions giving an
opportunity to make a profit on changes in currency rates, commodity, stock
market indices or share prices
called the underlying instrument. If the underlying instrument movement is in
the Client’s favor, the Client may achieve a good profit, but an equally small
adverse market movement can not only quickly result in the loss of the Client’s
entire deposit but also any additional table-accordion commissions and other
expenses incurred. So, the Client must not enter into CFDs unless he is willing
to undertake the risks of losing entirely all the money which he has invested
and also any additional table-accordion commissions and other expenses
incurred. 

Investing in a Contract for Differences carries the same risks as investing in the future or an option
and you should be aware of these as set out above. Transactions in Contracts
for Differences may also have a contingent liability and you should be aware of
the implications of this as set out below. 

Off-exchange Transactions in Derivatives 

CFDs, forex, and precious metals are off-exchange transactions. While some off-exchange markets are
highly liquid, transactions in off-exchange or non-transferable derivatives may
involve greater risk than investing in on-exchange derivatives because there is
no exchange market on which to close out an Open Position. It may be impossible
to liquidate an existing position, to assess the value of the position arising
from an off-exchange transaction, or to assess the exposure to risk. Bid prices
and Ask prices need not be quoted, and, even where they are, they will be
established by dealers in these instruments and consequently, it may be
difficult to establish what is a fair price. 

In regards to transactions in CFDs, forex and precious metals with the Company, the Company
is using a trading platform for transactions in CFDs which does not fall into
the definition of a recognized exchange as this is not a Multilateral Trading
Facility and so do not have the same protection. 

Foreign Markets 

Foreign markets involve
various risks. On request, the Company must provide an explanation of the
relevant risks and protections (if any) which will operate in any foreign
markets, including the extent to which it will accept liability for any default
of a foreign firm through whom it deals. The potential for profit or loss from
transactions on foreign markets or in foreign denominated contracts will be
affected by fluctuations in foreign exchange rates. 

Contingent
Liability Investment Transactions 

Contingent liability investment transactions, which are margined, require you to make a series of
payments against the purchase price, instead of paying the whole purchase price
immediately. The Margin requirement will depend on the underlying asset of the
instrument. Margin requirements can be fixed or calculated from the current
price of the underlying instrument, it can be found on the website of the
Company. If you trade in futures, Contracts for Differences, or sell options,
you may sustain a total loss of the funds you have deposited to open and
maintain a position. If the market moves against you, you may be called upon to
pay substantial additional funds at short notice to maintain the position. If
you fail to do so within the time required, your position may be liquidated at
a loss and you will be responsible for the resulting 

deficit. It is noted that
the Company will not have a duty to notify the Client of any Margin Call to
sustain a loss-making position. 

Even if a transaction is
not margined, it may still carry an obligation to make further payments in
certain circumstances over and above any amount paid when you entered the
contract.

Contingent liability
investment transactions that are not traded on or under the rules of a
recognized or designated investment exchange may expose you to substantially
greater risks.

Collateral 

If you deposit collateral
as security with the Company, the way in which it will be treated will vary
according to the type of transaction and where it is traded. There could be
significant differences in the treatment of your collateral depending on
whether you are trading on a recognized or designated investment exchange, with
the rules of that exchange (and the associated clearing house) applying, or
trading off-exchange. Deposited collateral may lose its identity as your
property once dealings on your behalf are undertaken. Even if your dealings
should ultimately prove profitable, you may not get back the same assets that you
deposited and may have to accept payment in cash. You should ascertain from
your firm how your collateral will be dealt with. 

Commissions and Taxes 

Before you begin to
trade, you should make yourself aware of all table-accordion commissions and
other charges for which you will be liable. If any charges are not expressed in
monetary terms (but, for example, as a percentage of contract value), you should
ensure that you understand the true monetary value of the charges. 

There is a risk that the
Client’s trades in any Financial Instruments including derivative instruments
may be or become subject to tax and/or any other duty for example because of
changes in legislation or his personal circumstances. The Company does not
warrant that no tax and/or any other stamp duty will be payable. The Client is
responsible for any taxes and/or any other duty which may accrue in respect of
his trades. 

The Clients are
responsible for managing their tax and legal affairs including making any
regulatory filings and payments and complying with applicable laws and
regulations. The Company does not provide any regulatory, tax or legal advice.
If the Clients are in any doubt as to the tax treatment or liabilities of
investment products available through the Company, they should seek independent
advice. 

Suspensions of Trading 

Under certain trading conditions, it may be difficult or impossible to liquidate a position. This may
occur, for example, at times of rapid price movement if the price rises or
falls in one trading session to such an extent that under the rules of the
relevant exchange trading is suspended or restricted.

Placing a Stop Loss will not necessarily limit your losses to the intended
amounts, because market conditions may make it impossible to execute such an
Order at the stipulated price. In addition, under certain market conditions,
the execution of a Stop Loss Order may be worse than its stipulated price and
the realized losses can be larger than expected. 

Clearing House Protections 

On many exchanges, the
performance of a transaction by your firm (or a third party with whom it is
dealing on your behalf) is guaranteed by the exchange or clearinghouse.
However, this guarantee is unlikely in most circumstances to cover you, the
Client, and may not protect you if your firm or another party defaults on its
obligations to you. On request, the Company must explain any protection
provided to you under the clearing guarantee applicable to any onexchange
derivatives in which you are dealing. There is no clearinghouse for traditional
options, nor normally for off-exchange instruments which are not traded under
the rules of a recognized or designated investment exchange. 

Insolvency 

The Company’s insolvency
or default may lead to positions being liquidated or closed out without your
consent. In certain circumstances, you may not get back the actual assets that
you lodged as collateral and you may have to accept any available payments in
cash or by any other method deemed to be appropriate. 

Segregated Funds will be
subject to the protections conferred by Applicable Regulations. 

Non-segregated Funds will
not be subject to the protections conferred by Applicable Regulations.
Non-segregated Funds will not be segregated from the Company’s money and will
be used in the course of the Company’s business, and in the event of the
Company’s insolvency, you will rank as a general creditor. 

Third-Party Risk 

This notice is provided
to you in accordance with applicable legislation. 

The Company may pass
money received from the Client to a third party (e.g. a bank, a market,
intermediate broker, OTC counterparty or clearinghouse) to hold or control in
order to effect a Transaction through or with that person or to satisfy the
Client’s obligation to provide collateral (e.g. initial margin requirement) in
respect of a Transaction. The Company has no responsibility for any acts or
omissions of any third party to whom it will pass money received from the
Client. 

The third-party to whom
the Company will pass money may hold it in an omnibus account and it may not be
possible to separate it from the Client’s money, or the third party’s money. In
the event of the insolvency or any other analogous proceedings in relation to
that third party, the Company may only have an unsecured claim against the
third party on behalf of the Client, and the Client will be exposed to the risk
that the money received by the Company from the third party is
insufficient to satisfy the claims of the Client with claims in respect of the
relevant account. The Company does not accept any liability or responsibility
for any resulting losses. 

The Company may deposit Client money with a depository who may have a security interest, lien or right
of set-off in relation to that money. 

A Bank or Broker through whom the Company deals with could have interests contrary to the Client’s interests