Trading financial instruments carries a high level of risk and may not be suitable for all investors. This applies in particular to leveraged financial instruments (trading on margin). From a positive value development of a financial instrument in the past, no conclusion can be drawn for future benefits. Before deciding to trade any financial instrument or making any other decision with financial impact you should carefully consider your investment objectives, level of experience and risk appetite. You should be aware of all the risks and opportunities associated with the trading of the concerned financial instrument or with any other financial decision. Ensure that you fully understand the risks involved. The possibility exists that you could sustain a loss even more than your initial investment. Only invest with money you can afford to lose. If necessary, you should seek independent advice.

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