In consideration of Beirut Brokerage Corporation or any of its affiliates (“BBCorp Markets”) agreeing to enter into trading any financial instrument contracts with you, you acknowledge, understand and agree that:

Trading Is Speculative and Involves a High Degree of Risk. Trading in commodity futures and foreign currency contracts is speculative and involves a high degree of risk. In particular, because this type of trading will be conducted by use of margin (which covers only a small percentage of the value of the contract traded), price changes in commodity futures and foreign currency contracts may result in significant losses. Therefore, commodity futures and foreign currency contracts are appropriate only for persons that (a) understand and are willing to assume the economic, legal and other risks involved in such transactions, and (b) are financially able to withstand loss of their initial margin funds and any additional funds transferred to Beirut Brokerage Corporation s.a.l. to maintain their positions.

Currency Risks. Foreign currencies represent the legal tender of one or more foreign nations and normally are not linked to any intrinsically valuable commodity (such as precious metals). Any transaction involving foreign currencies, including currency futures or currency contracts, involves risks not common to investments denominated entirely in a person’s domestic currency. Such enhanced risks include (but are not limited to) the risks of political or economic policy changes in a foreign nation, which may substantially and permanently alter the conditions, terms, marketability or price of a foreign currency. The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in your own or another jurisdiction) will also be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.

Effect of Spreads and Commission Charges. When trading commodity and currency futures on the CME Globex exchange or stocks and options on global marketplaces, prices quoted to you are those of the CME or other markets or exchanges and contain no significant spreads. Beirut Brokerage Corporation s.a.l. will not include any mark-up or mark-down to the exchange quoted spread. However Beirut Brokerage Corporation s.a.l. will include a bokers commission charge. In comparison, when trading spot forex, prices quoted to you by Beirut Brokerage Corporation s.a.l. will include a spread, mark-up, or mark-down when compared to prices that Beirut Brokerage Corporation s.a.l. may receive or expect to receive in covering its transactions with you in the interbank market or with another party. While dealing spreads are common in the foreign exchange markets, the total impact of spreads may be significant in relation to the size of the margin you post and may make it more difficult for you to realize a profit from your trading. In addition, in connection with the automatic roll of spot foreign exchange transactions or futures contracts that you do not close out, Beirut Brokerage Corporation s.a.l. may impose a contract renewal commission charge. You should carefully consider the effect of such commission charges along with spreads, mark-ups, or mark-downs on your ability to profit from trading.

Risk Reducing Orders or Strategies. The placing of certain orders (e.g., ‘stop-loss’ or ‘stop-limit’ orders) that are intended to limit losses to certain amounts may not always be effective because market conditions or technological limitations may make it impossible to execute such orders.

Obligation to Maintain Required Margin. Beirut Brokerage Corporation s.a.l.’s margin policies require you to maintain at all times such margins as Beirut Brokerage Corporation s.a.l., in its sole discretion, may from time to time request. Without limiting the foregoing, you understand that, if the amount of margin credited to your account falls below the maintenance margin level established by Beirut Brokerage Corporation s.a.l. for trading (which will be specified as a percentage of your initial margin requirement in regard to each futures contract or currency pair available for trading), Beirut Brokerage Corporation s.a.l. will call for additional margin to be deposited in the BBCorp Account. You will be required meet the margin call no later than the close of business on the day such request is received. Further, if you fail to provide additional margin within the time required, Beirut Brokerage Corporation s.a.l. may liquidate any or all of your open positions and you will be responsible for all losses resulting from such liquidation. 

One Click Trading. The electronic system that Beirut Brokerage Corporation s.a.l. is making available for your use for trading (“BBCorp Trader”) provides for transmission of your order once you enter the notional amount and click “Buy/Sell” with no ability to then re-confirm or alter the terms of your order and market orders cannot be cancelled. By using "BBCorp Trader", you agree to the one-click system and accept the risk of this feature.

Electronic Trading. As a result of any system failure or other interruption, orders either may not be executed according to your instructions or may not be executed at all, or you may not be able to place or change orders or view your trading positions or market data. Beirut Brokerage Corporation s.a.l. will not be liable for any such failure of hardware or software, system downtime or communications interruption. Further, Beirut Brokerage Corporation s.a.l. does not warrant that it (or any counterparty) will be able to maintain a continuous and uninterrupted link with the Internet and will have no liability for any such failure. Some or all of the essential components of the "BBCorp Trader" system may be provided or supported by one or more third parties, and the operation of "BBCorp Trader" may be dependent on such third parties.

Beirut Brokerage Corporation s.al. is not an Adviser or a Fiduciary. Beirut Brokerage Corporation s.a.l. in its sole discretion, may make available market information and/or market color via BBCorp Trader, BBCorp SMS alerts, market research, and/or email reports. Any such market information or market color does not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any commodity futures and foreign currency contracts, nor is it intended to be advice or a recommendation of any kind. Each decision by you to enter into a commodity futures and foreign currency contract with Beirut Brokerage Corporation s.a.l. and each decision whether financial intrument is appropriate or proper for you is an independent decision by you. Beirut Brokerage Corporation s.a.l. is not acting as an adviser or serving as a fiduciary to you. You should obtain advice from your accountant, financial, legal, and other advisors and only make trading decisions on the basis of your own objectives, experiences, evaluation, and resources. You agree that Beirut Brokerage Corporation s.a.l. has no fiduciary duty to you and no liability in connection therewith and is not responsible for any liabilities, claims, losses, damages, costs and expenses, including attorneys’ fees, incurred in connection with your use of market information or market color provided by Beirut Brokerage Corporation s.a.l.

Account Managers. In the event that you grant trading authority or control over your Account to a third party (“Account Manager”), whether on a discretionary or non-discretionary basis, Beirut Brokerage Corporation s.a.l. will in no way be responsible for making any recommendations with respect thereto.  Beirut Brokerage Corporation s.a.l. will not be responsible for any loss to you occasioned by the actions of the Account Manager; and Beirut Brokerage Corporation s.a.l. does not, by implication or otherwise, endorse or approve of the operating methods of the Account Manager. If you give the Account Manager authority to exercise any of your rights over your Account, you do so at your risk. Although you grant authority to Account Manager, you should be diligent and closely scrutinize all account activity.