CLIENT AGREEMENT TERMS & CONDITIONS OF
BUSINESS
These are the Terms and Conditions that apply to the access and/or use of any of our Website(s), Electronic
Trading Platform(s), Software and/or Services (collectively, our “Online Trading Facility”). Please read theseTerms and Conditions completely and carefully before accessing and/or using our Online Trading Facility. You
must read, agree with and accept all of the terms and conditions contained in this Agreement without
modifications, which include those terms and conditions expressly set out below and those incorporated
herein by reference, before you may become a client of Traders Trust.

IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS, DO NOT USE OR ACCESS OURSERVICES, WEBSITE(S) AND ONLINE TRADING FACILITY, AND INFORM US IN WRITING IMMEDIATELY!

Original Issue Date:

December 2018

Owner(s):TTCM TRADERS CAPITAL LIMITED

Last Review Date:

December 2023

Next Review Date:

December 2024

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Contents
CHAPTER A: INTRODUCTION & REGULATORY DISCLOSURES .................................................................................................7
INTRODUCTION .................................................................................................................................................................7
REGULATORY DISCLOSURES ...............................................................................................................................................7
EXTENT OF AGREEMENT ....................................................................................................................................................7
MUTUAL ASSENT ...............................................................................................................................................................8RISK AWARENESS ...............................................................................................................................................................9CHAPTER B: SCOPE OF AGREEMENT ...................................................................................................................................10
PARTIES TO THE AGREEMENT ..........................................................................................................................................10
ELECTRONIC SIGNATURES AND ACCEPTANCE OF AGREEMENT(S)...................................................................................10
ACCEPTANCE & SCOPE OF AGREEMENT(S) ......................................................................................................................11
AUTHORIZATION ..............................................................................................................................................................12
EXPERIENCE AND KNOWLEDGE IN FINANCIAL MATTERS ................................................................................................13
LEGAL RESTRICTIONS .......................................................................................................................................................14
AMENDMENTS.................................................................................................................................................................15
ENTIRE AGREEMENT - SEVERABILITY ...............................................................................................................................16
DEFINITIONS ....................................................................................................................................................................17
INTERPRETATION .............................................................................................................................................................34
CHAPTER C: ACCESS AND USE OF OUR ONLINE TRADING FACILITY ....................................................................................35
LIMITED LICENSE TO ACCESS AND USE OUR ONLINE TRADING FACILITY ........................................................................35
COPYRIGHT, LICENSES AND TRADEMARKS ......................................................................................................................36
LIMITATIONS ON INVESTMENT GUIDANCE AND PROFESSIONAL ADVICE .......................................................................37
ACCURACY OF INFORMATION .........................................................................................................................................37
ANALYTICAL TOOLS AND MARKET DATA ..........................................................................................................................37
THIRD PARTY CONTENT AND RESEARCH..........................................................................................................................38
MEANS OF ACCESSING AND USING OUR ONLINE TRADING FACILITY .............................................................................39
RESTRICTION OF ACCESS AND USE OF OUR ONLINE TRADING FACILITY .........................................................................40
TECHNICAL ISSUES ...........................................................................................................................................................40
INFECTIONS, CONTAMINATIONS OR OTHER OR DESTRUCTIVE CONTENT .......................................................................41
HYPERLINKS TO OTHER SITES CONTROLLED OR OFFERED BY THIRD PARTIES .................................................................41
SOFTWARE .......................................................................................................................................................................41
FORWARD LOOKING EARNINGS STATEMENTS .................................................................................................................42
CHAPTER D: SERVICES ..........................................................................................................................................................43
SCOPE OF SERVICES .........................................................................................................................................................43
REGISTRATION .................................................................................................................................................................43
ELIGIBILITY .......................................................................................................................................................................44
IDENTIFICATION ...............................................................................................................................................................44PERSONAL INFORMATION – ACCURATE AND COMPLETE DATA.......................................................................................45
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
2

PERSONAL DATA PROTECTION - PRIVACY ........................................................................................................................46
CHAPTER E: TERMS OF SERVICE ..........................................................................................................................................49
SERVICES PROVIDED ........................................................................................................................................................49
INVESTMENTS AND INSTRUMENTS .................................................................................................................................49
EXECUTION OF ORDERS ...................................................................................................................................................52
PRICES AND OPEN POSITIONS .........................................................................................................................................53
INSTRUCTIONS AND BASIS OF DEALING ..........................................................................................................................53
ELECTRONIC TRADING TERMS .........................................................................................................................................56
ELECTRONIC TRADING METHODOLOGY ..........................................................................................................................59
TRADE CONFIRMATIONS AND ACCOUNT STATEMENTS ...................................................................................................59
CONSENT TO RECEIVE ELECTRONIC TRANSMISSION OF TRADE CONFIRMATIONS & ACCOUNT STATEMENTS ....60
RECORDING OF TELEPHONE CONVERSATIONS, INTERNET CONVERSATIONS (CHAT), AND MEETINGS ...........................60
SETTLEMENT DATE AND OFFSET INSTRUCTIONS .............................................................................................................61
SUITABILITY AND APPROPRIATENESS ..............................................................................................................................61
THIRD PARTY MT4 LETTER OF DIRECTION .......................................................................................................................62
CHAPTER F: MARGIN DEPOSITS, COLLATERAL AND PAYMENT ............................................................................................63
MARGIN AND COLLATERAL ..............................................................................................................................................63
MARGIN CALL POLICY ......................................................................................................................................................66
SECURITY .........................................................................................................................................................................66
CHAPTER G: COMMISSIONS, FEES AND CHARGES ...............................................................................................................68
COMMISSIONS, FEES AND CHARGES ...............................................................................................................................68
OTHER FEES AND CHARGES .............................................................................................................................................68
PAYMENT TERMS .............................................................................................................................................................69
CURRENCY CONVERSION .................................................................................................................................................69
MORATORY INTEREST ......................................................................................................................................................70
PRICING OF OTC TRANSACTIONS .....................................................................................................................................70
ABUSIVE TRADING STRATEGIES & PROHIBITED TRADING TECHNIQUES .........................................................................70
MARKET ABUSE ...............................................................................................................................................................72
CHAPTER H: YOUR ACCOUNT(S) WITH US ...........................................................................................................................73
ACCOUNT(S) ....................................................................................................................................................................73
BASE CURRENCY ..............................................................................................................................................................73
ACCESS CODES (USERNAME AND PASSWORDS) ..............................................................................................................73
PAYMENTS........................................................................................................................................................................74
SEVERAL/MULTIPLE TRADING ACCOUNTS .......................................................................................................................76
DEPOSITS, REFUNDS AND WITHDRAWALS ......................................................................................................................76
DEPOSITS BY CREDIT/DEBIT CARD ...................................................................................................................................77
CHARGEBACKS .................................................................................................................................................................79
NETTING AGREEMENT .....................................................................................................................................................81
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
3

CLIENT MONEY ................................................................................................................................................................81
CLIENT ASSETS .................................................................................................................................................................82
DORMANT ACCOUNTS .....................................................................................................................................................83
MULTIPLE (JOINT) ACCOUNT HOLDERS ...........................................................................................................................84
ISLAMIC/SWAP-FREE ACCOUNTS .....................................................................................................................................85
CHAPTER I: INTRODUCING BROKERS, SERVICE PROVIDERS AND MANAGED ACCOUNTS ...................................................86
INTRODUCING BROKERS AND THIRD PARTY TRADING SYSTEMS, COURSES, PROGRAMS, SOFTWARE OR .....................86
TRADING PLATFORMS OFFERED BY A SERVICE PROVIDER ..............................................................................................86
MANAGED ACCOUNTS .....................................................................................................................................................87
CHAPTER J: GENERAL PROVISIONS ......................................................................................................................................89
STRAIGHT THROUGH PROCESSING AND ELECTRONIC COMMUNICATIONS NETWORKS .................................................89
CONFLICTS OF INTEREST ..................................................................................................................................................89
SPECIAL PROVISIONS FOR MANAGED ACCOUNTS, INTRODUCED ACCOUNTS OR THIRD PARTY VENDORS ...................90
RISK ACKNOWLEDGEMENTS ............................................................................................................................................90
FURTHER REPRESENTATIONS, WARRANTIES AND COVENANTS ......................................................................................96
INFORMATION DISCLOSURE ............................................................................................................................................97
REGULATORY MATTERS....................................................................................................................................................97
TAX IMPLICATIONS ...........................................................................................................................................................97
INTELLECTUAL PROPERTY ................................................................................................................................................98
DATA PROTECTION ...........................................................................................................................................................99
CHAPTER K: COMPLAINTS HANDLING PROCEDURES COMPLAINTS ................................................................................. 101
OUR RIGHT TO PROCEED WITH THE RECOVERY OF DEBTS ........................................................................................... 101
CHAPTER L: INDEMNITY AND LIMITATION OF LIABILITY ................................................................................................... 101
RISK OF LOSS; LIMITATION OF LIABILITY ....................................................................................................................... 101
EXCLUSION OF WARRANTIES ........................................................................................................................................ 103
INDEMNIFICATION ........................................................................................................................................................ 104
INDEPENDENT INVESTIGATION..................................................................................................................................... 105
CHAPTER M: DEFAULT....................................................................................................................................................... 105
RIGHTS ON DEFAULT ..................................................................................................................................................... 107
CHAPTER N: TERMINATION OF CLIENT RELATIONSHIP AND LIQUIDATION OF ACCOUNTS .............................................. 108
TERMINATION OF CLIENT RELATIONSHIP ..................................................................................................................... 108
EFFECTS OF TERMINATION OF CLIENT RELATIONSHIP .................................................................................................. 108
IN THE EVENT OF DEATH............................................................................................................................................... 109
CHAPTER O: MISCELLANEOUS PROVISIONS ..................................................................................................................... 110
ASSIGNMENT ................................................................................................................................................................ 110
TIME OF ESSENCE ......................................................................................................................................................... 110
NOTICES ........................................................................................................................................................................ 110
GOVERNING LAW AND JURISDICTION .......................................................................................................................... 112
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
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DISPUTE RESOLUTION .................................................................................................................................................. 112
INTERIM RELIEF - INJUNCTIVE RELIEF ........................................................................................................................... 113
CONTROLLING LANGUAGE ........................................................................................................................................... 114
FORCE MAJEURE ........................................................................................................................................................... 114
MANIFEST ERRORS ....................................................................................................................................................... 114
NO WAIVER ................................................................................................................................................................... 115
CUMULATIVE REMEDIES ............................................................................................................................................... 115
COMPLIANCE WITH BERMUDA RULES.......................................................................................................................... 115
EXCLUSION OF THIRD PARTY RIGHTS ............................................................................................................................ 115
INDEPENDENT PARTIES/NO PARTNERSHIP OR JOINT VENTURE ................................................................................... 116
COUNTERPARTS ............................................................................................................................................................ 116
SURVIVAL ...................................................................................................................................................................... 116
SCHEDULE A: BUSINESS TERMS FOR ROLLING SPOT FOREX ............................................................................................. 116
SCOPE ........................................................................................................................................................................... 116
DEFINITIONS ................................................................................................................................................................. 116
OPENING ROLLING SPOT FOREX CONTRACTS ............................................................................................................... 117
CLOSING A ROLLING SPOT FOREX CONTRACT .............................................................................................................. 117
ROLLOVER ..................................................................................................................................................................... 118
SCHEDULE B: BUSINESS TERMS FOR CFD’s ................................................................................................................... 118
SCOPE ........................................................................................................................................................................... 118
DEFINITIONS ................................................................................................................................................................. 118
SERVICES ....................................................................................................................................................................... 119
CAPACITY ...................................................................................................................................................................... 120
OBTAINING A QUOTE AND ORDER PLACEMENT ........................................................................................................... 120
OPENING CFD CONTRACTS ........................................................................................................................................... 120
CLOSING CFD CONTRACTS ............................................................................................................................................ 121
CFD CONTRACTS ON SECURITIES .................................................................................................................................. 121
CFD CONTRACTS ON FINANCIAL INSTRUMENTS .......................................................................................................... 122
TRANSACTION COSTS AND ROLLOVER ......................................................................................................................... 123
ACCOUNT STATEMENTS ................................................................................................................................................ 124
PAYMENT, WITHDRAWAL AND SET-OFF ........................................................................................................................ 124
MARGIN ........................................................................................................................................................................ 125
SCHEDULE C: BUSINESS TERMS FOR EQUITIES ................................................................................................................. 125
SCOPE ........................................................................................................................................................................... 125
DEFINITIONS ................................................................................................................................................................. 125
RISKS ............................................................................................................................................................................. 126

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
5

MARGIN ........................................................................................................................................................................ 128
DEALINGS IN EQUITIES ................................................................................................................................................. 128
PAYMENT, WITHDRAWAL AND SET-OFF ........................................................................................................................ 128
SHORT SELLING ............................................................................................................................................................. 128
EXECUTION VIA THIRD PARTIES .................................................................................................................................... 128
SETTLEMENT ................................................................................................................................................................. 129
TRADE CONFIRMATIONS AND ACCOUNT STATEMENTS ................................................................................................ 130
CUSTODY ....................................................................................................................................................................... 131
CORPORATE ACTIONS ................................................................................................................................................... 131
TAX ................................................................................................................................................................................ 132
TRANSFER OF SECURITIES ............................................................................................................................................. 132
SCHEDULE D: BUSINESS TERMS FOR FUTURES AND OPTIONS ......................................................................................... 133
SCOPE ........................................................................................................................................................................... 133
DEFINITIONS ................................................................................................................................................................. 133
SERVICES ....................................................................................................................................................................... 133
MARGIN ........................................................................................................................................................................ 134
PAYMENT, WITHDRAWAL AND SET-OFF ........................................................................................................................ 134
TRADING ARRANGEMENTS........................................................................................................................................... 135
EXERCISE OF OPTIONS .................................................................................................................................................. 135
CONTRACTS REQUIRING NON-CASH SETTLEMENT ...................................................................................................... 136
CLEARING AND GIVE UP ARRANGEMENTS ................................................................................................................... 136
SCHEDULE E: BUSINESS TERMS FOR OTC OPTIONS .......................................................................................................... 137
SCOPE ........................................................................................................................................................................... 137
DEFINITIONS ................................................................................................................................................................. 137
SERVICES ....................................................................................................................................................................... 138
MARGIN ........................................................................................................................................................................ 138
TRADING ARRANGEMENTS........................................................................................................................................... 138
DELIVERY....................................................................................................................................................................... 139

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
6

CLIENT AGREEMENT TERMS & CONDITIONS OF BUSINESSCHAPTER A: INTRODUCTION & REGULATORY DISCLOSURESINTRODUCTION
This document is part of a wider agreement by and between you (hereinafter referred to as "you" or “your”
or, in general terms, the “client”) and ‘TTCM Traders Markets Limited’ (also trading under the name “Traders
Trust” henceforth "us", “our”, "we", the “Company” or "Traders Trust") in relation to your investment activities
with us (hereinafter referred to as these "Terms and Conditions"), and contains the terms and conditions that
apply to the access and/or use of any of our Website(s), Electronic Trading Platform(s), Software and/or
Services (hereinafter, collectively, referred to as our “Online Trading Facility”).

REGULATORY DISCLOSURES‘TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and
6/132C(1) of the Companies Act 1981, registered with the Registrar of Companies under Company number
54135 and with registered address 5th Floor, Andrew’s Place, 51 Church Street Hamilton HM 12 Bermuda.
As noted further below, the Company maintains ‘Complaints Handling Procedures’, which are contained on or
in our Online Trading Facility and/or may be provided to Clients upon request. Clients should notify theCompany as soon as reasonably practicable if they wish to raise a complaint or dispute by e-mailing theCompany at support@ttcm.com. Clients should keep their own records of any information which might becited in their complaint, as that will assist the Company in investigating such complaints or disputes. The
Company will investigate any complaint or dispute and notify Clients involved of the results of the investigation.
The Company has procedures and guidelines designed to enable it to deal with complaints fairly and quickly;
Clients may contact the Company at any time for further information on such procedures and guidelines. If
after receiving the Company’s final decision for the relevant complaint, a Client is dissatisfied with theCompany’s handling or findings in relation to that complaint or dispute, the Client involved may (if the Clientis categorized as a ‘Retail Client’ – see further below) refer the matter to the Financial Ombudsman Service forfurther investigation.
EXTENT OF AGREEMENT
Our “Agreement” with you consists of several documents that can be accessed through our Online
Trading Facility, or upon request, and specifically comprises:• these Terms and Conditions (including any annexes, appendices, addenda, attachments, schedules and/or
exhibits hereof );• the fees, charges and/or commissions (including, without limitation, spreads, charges, commissions,interest and other fees) (“Commissions and Charges”) at such rates as are notified by us to you fromtime to time or published on our Online Trading Facility;• any application or form that you submit to us to open, maintain or close an Account;• and any specific terms and conditions relating to our Online Trading Facility, which will be displayed on
the relevant Website(s); all of which are hereinafter, collectively, referred to as the “Agreement”. The
Agreement constitutes the entire agreement between you and us with respect to the subject matterhereof and supersedes all prior or contemporaneous oral or written communications, proposals,
agreement or representations with respect to the subject matter hereof.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
7

There are additional documents and information contained on or in our Online Trading Facility or available
upon request, which provide more details about us and our Services, but which do not form part of theAgreement. These include, without limitation:
our ‘Execution Policy’, which explains certain aspects of how we quote prices and deal with Orders andTransactions;our ‘Conflicts of Interest Management Policy’, which explains how we handle conflicts of interests
in a manner that treats customers fairly;
our ‘Privacy Policy’, which explains how we deal with personal information that you provide to us;
our ‘Money Laundering & Terrorist Financing Prevention Policy’, which explains our commitment
to prevent any money laundering activities through our Services and to comply with all applicablelegal and regulatory requirements;
our ‘Website Terms & Conditions of Access & Use’, which contains certain specific terms andconditions of access and use of our Website(s); any instructions, guides and worked examples published orprovided by us explaining how to enter into and close Transactions on our Online Trading Facility;‘Risk Disclosures for Financial Statements & Investment Services’, which discloses certain risks and othersignificant aspects involved in dealing in certain derivative financial instruments via our Online Trading Facility;andour ‘Complaints Handling Procedures’, which details how we deal with customer complaints.
MUTUAL ASSENT
For your benefit and protection, you should take sufficient time to read these Terms and Conditions, as well as
any additional documents, information and/or other legal notices and statements (forming part of theAgreement or otherwise) contained on or in our Online Trading Facility or available upon request, completely
and carefully before (a) opening an Account, accessing, and/or (b) using our Online Trading Facility, and/or (c)placing any Order or Transaction with us, and you should contact us to ask for further information or seek
independent professional advice if necessary.
You must read, agree with and accept all of the terms and conditions contained in these Terms and Conditions
and in any additional documents, information and/or other legal notices and statements (forming part of theAgreement or otherwise) contained on or in our Online Trading Facility or available upon request, without
modifications, before you may become a client of Traders Trust.
IF YOU HAVE OBJECTIONS TO ANY OF THESE TERMS AND CONDITIONS AND/OR ANY ADDITIONAL
DOCUMENTS, INFORMATION AND/OR OTHER LEGAL NOTICES AND STATEMENTS (FORMING PART OF THE
AGREEMENT OR OTHERWISE) CONTAINED ON OR IN OUR ONLINE TRADING FACILITY OR AVAILABLE
UPON REQUEST, OR ANY PART THEREOF, AND/OR IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS
AND CONDITIONS AND/OR ANY ADDITIONAL DOCUMENTS, INFORMATION AND/OR OTHER LEGAL NOTICESAND STATEMENTS (FORMING PART OF THE AGREEMENT OR OTHERWISE) CONTAINED ON OR IN OUR ONLINETRADING FACILITY OR AVAILABLE UPON REQUEST, OR ANY PART THEREOF, DO NOT ACCESS AND/OR USE
OUR SERVICES, WEBSITE(S) AND ONLINE TRADING FACILITY IN ANY WAY, AND INFORM US IN WRITINGIMMEDIATELY.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
8Your access and use of our Online Trading Facility constitutes your acceptance of these Terms and Conditions
and of any additional documents, information and/or other legal notices and statements (forming part of theAgreement or otherwise) contained on or in our Online Trading Facility or available upon request. Your accessand use of or Online Trading Facility is governed by the version ofthese Terms and Conditions and of any additional documents, information and/or other legal notices andstatements (forming part of the Agreement or otherwise) contained on or in our Online Trading Facility oravailable upon request, which is in effect on the date on which our Online Trading Facility is accessed and/or
used by you. Please feel free to contact our customer support team at support@ttcm.com for any clarifications
before you continue to access and/or use of our Online Trading Facility.
As set forth in further detail in Section below, we reserve the right to amend, alter, modify, delete or add toany of the provisions of these Terms and Conditions and of any additional documents, information and/or
other legal notices and statements (forming part of the Agreement or otherwise) contained on or in our
Online Trading Facility or available upon request at any time, in accordance with the terms hereof. When
any of these Terms and Conditions and/or additional documents, information and/or other legal notices andstatements (forming part of the Agreement or otherwise) contained on or in our Online Trading Facility oravailable upon request are amended, altered, modified, deleted or added on to (hereinafter referred to as“Changes”), we will post such Changes on our Online Trading Facility and/or otherwise notify you of such
Changes. Each such notification shall be deemed as sufficient notice and it is your duty to consult and/or tocheck regularly this Agreement on our Online Trading Facility regarding any such Changes. Therefore, you
should review these pages from time to time so as to ensure that you will be aware of any such Changes.
All amended terms shall be effective five (5) Business Days after their initial posting on our Online Trading
Facility, or as of the first time that you access and/or use our Online Trading Facility after such amendments
were made, whichever is sooner. Your continued use of our Online Trading Facility after the publication of any
Changes shall be considered as your agreement to such modified Terms and Conditions and shall be governedby those Terms and Conditions, as modified. If you do not wish to be bound by those Changes, you shouldcease to access and/or use our Online Trading Facility and inform us in writing, immediately.
Some areas or parts of our Online Trading Facility may have different specific terms of access and/or use
posted on them. If there is a conflict or discrepancy between these Terms and Conditions and any such specificterms of access and/or use, the latter shall have precedence with respect to your access and/or use of such
relevant area or part of our Online Trading Facility.

RISK AWARENESS
Trading on any financial market involves a significant level of risk and you should not risk more than you areprepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking
into account your investment objectives and level of experience. Please be aware then that the contents of ourOnline Trading Facility are neither a solicitation, nor an offer to enter into any transactions on the financial
market(s). The contents of our Online Trading Facility and of any communications you may receive from us, via
Electronic Messaging, website postings, e-mail, telephone, telefax or otherwise, and any part of any member’s
area on our Online Trading Facility in particular, are for general information and educational purposes only anddo not amount to investment advice or unsolicited financial promotions to you.
Please do read the “Website Terms of Use”, the “Risk Disclosures for Financial Statements & Investment
Services”, the “Privacy Policy”, the “Conflicts of Interest Management Policy”, the “Money Laundering &TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
9Terrorist Financing Prevention Policy” and the “Order Execution Policy”, as well as these Terms and Conditions
and any additional documents, information and/or other legal notices and statements (forming part of theAgreement or otherwise) contained on our Online Trading Facility, before accessing and/or using our Services,
Website(s) and/or Online Trading Facility.

CHAPTER B: SCOPE OF AGREEMENTPARTIES TO THE AGREEMENT
This Agreement is made between yourself, as our client (hereinafter referred to as "you" or “your” or, in generalterms, the “client”) and ‘TTCM Capital Markets Limited’, and any of its designated and permitted successors,
assigns and those of its subsidiaries and affiliates that are identified further in this Agreement (also trading
under the name “Traders Trust” henceforth "us", “our”, "we", the “Company”, or “Traders Trust”). This
document describes in full detail the Terms and Conditions you must accept, without restrictions or objections,
before accessing and/or using our Online Trading Facility. Furthermore, before you access and/or use ourOnline Trading Facility and before you become a client of Traders Trust, you must fully understand and agree
to all the terms and conditions expressly explained and/or implied hereto, and/or incorporated herein byreference. Notwithstanding anything to the contrary, by continuing to use our Online Trading Facility you are
implying that you have read these Terms and Conditions and have unconditionally accepted these Terms andConditions in their entirety and without reservation.
“Traders Trust” (henceforth "us", “our”, "we", or the “Company”) and “you”, as our client (henceforth “you”,“your” or, in general terms, the “client”), may hereinafter be referred to, individually, as a “Party” and,collectively, as the “Parties”.
ELECTRONIC SIGNATURES AND ACCEPTANCE OF AGREEMENT(S)You hereby expressly acknowledge and agree that: (a) by downloading, completing and/or submitting to us the
Account documentation and forms posted on our Online Trading Facility (hereinafter referred to as the“Account Opening Application Form(s)”) and/or clicking in the appropriate space, or on the “I Accept” button,
the “Submit” button, or similar buttons or links as may be designated by us to show your approval andacceptance of the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, and/or (b) by accessing or using, and/or by continuing to access or use, our Online
Trading Facility, you are entering into a legally binding contract by and between you and us, and you fully agree
to abide by and to be bound by all the Terms and Conditions set out in the Agreement and/or any agreements
by and between us, including, without limitation, these Terms and Conditions, as they may apply to you.
You hereby agree to communications being made, and to the delivery of the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions and/or any changes
in these Terms and Conditions, via electronic media (including, without limitation, Electronic Messaging,Website postings, e-mail, or other electronic means) to the extent permitted by Applicable Laws, Rules and/or
Regulations. Communications being made via electronic media in order to enter into contracts, place Orders
and other records and to the electronic delivery of notices, policies and records of transactions initiated orcompleted through our Online Trading Facility and/or in relation thereto, shall, to the extent permitted by
Applicable Laws, Rules and/or Regulations, be treated as satisfying any legal requirement that a communication
should be ‘signed’ and/or ‘in writing’. Accordingly, any such documents that are delivered to you electronicallyare deemed to be "in writing".

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
10

If your signature or acknowledgement is required or requested with respect to any such document and you"click" in the appropriate space, or on the “I Accept” button, the “Submit” button, or on similar buttons or links
as may be designated by us to show your approval and acceptance thereof, or take such other action as may
be indicated on our Online Trading Facility, you will be deemed to have ‘signed’ and/or ‘acknowledged’ thedocument to the same extent and with the same effect as if you had signed the document manually. To theextent permitted under applicable mandatory law, you hereby waive any rights or requirements under any
Applicable Laws, Rules and/or Regulations in any jurisdiction, which require an original (non-electronic)
signature or delivery or retention of non-electronic records. You hereby expressly acknowledge yourunderstanding that you have the right to withdraw your consent to the electronic delivery and signature of
documents at any time by providing prior written notice to us. However, if you revoke your consent, your accessto an/or use of our Online Trading Facility may be restricted or terminated, at our sole discretion and without
any obligation on our end to provide you with any explanation and/or justification thereof.
ACCEPTANCE & SCOPE OF AGREEMENT(S)We shall evaluate the Account Opening Application Form(s) you submitted for the purpose of becoming a clientof us and shall inform you by e-mail whether your application is accepted or not. We reserve the right to refuse
and/or decline your application(s), at our sole discretion and for any reason, without being obliged to provide
you with any explanation or justification.
Without prejudice to the provisions of Section hereinabove, in particular as regards your acceptance andacknowledgement of the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, we will become a counterparty bound to the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, will become
binding on us, only as of the date on which we are sending the abovementioned confirmation e-mail, as
indicated thereon (the “Effective Date”).
This Agreement applies to all of our Online Trading Facility, including, without limitation, all electronic Content
thereof and/or all Software provide thereon (including, without limitation, all real time information about thePrice Quotes of Supported Financial Instruments provided thereon); as well as all program facilities for
executing Transactions in Supported Financial Instruments via our Online Trading Facility via the Internet,
Electronic Messaging, website postings, e-mail, phone, fax or otherwise, and any other features, content orservices that we may add in the future.
Some areas or parts of our Online Trading Facility may have different specific terms of access and/or use posted
thereon. If there is a conflict and/or discrepancy between these Terms and Conditions and any such specificterms of access and/or use, the latter shall have precedence with respect to your access and/or use of such
relevant area or part of our Online Trading Facility.
We may from time to time send to you further communications in respect of certain Transactions and/or
Contracts, which may contain specific legal and/or contractual provisions applicable with respect to such
Transactions and/or Contracts. In the event of any conflict and/or discrepancy between the clauses of thisAgreement and/or its annexes, appendices, addenda, attachments, schedules and/or exhibits, and the legal
and/or contractual provisions set forth in such communications to you in respect of certain Transactions and/or
Contracts, the latter shall prevail. The fact that a legal and/or contractual provision is specifically set forth
herein, or is included in a specific communication to you, in respect of one particular Transaction and/or
Contract, shall not preclude a similar legal and/or contractual provision being expressed or implied, or being
applicable, in relation to any other Transaction and/or Contract.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
11

AUTHORIZATIONOur Online Trading Facility is available to, and may only be used by, individuals, corporations, companies, joint
ventures, partnerships or any other legal entities or associations of individuals or other legal entities(hereinafter referred to as "Legal Entit(y)ies”), which can form legally binding contracts under the law
applicable to their country of residence or, in the case of Legal Entities, in their country of formation,
incorporation and/or domiciliation. Without limiting the foregoing, our Online Trading Facility is NOT available
to Persons who are under the age of 18, or otherwise under legal age in their country of residence (hereinafterreferred to as "Minors"), or who, otherwise, cannot form legally binding contracts under the law(s) applicablein their country of residence or, in the case of Legal Entities, in their country of formation, incorporation and/or
domiciliation.
IF YOU ARE A MINOR, OR IF YOU CANNOT FORM LEGALLY BINDING CONTRACTS UNDER THE LAW(S)APPLICABLE IN YOUR COUNTRY OF RESIDENCE OR, IN THE CASE OF LEGAL ENTITIES, IN YOUR COUNTRY OF
FORMATION, INCORPORATION AND/OR DOMICILIATION, YOU MAY NOT ACCESS AND/OR USE OUR ONLINETRADING FACILITY. IF YOU DO NOT QUALIFY, PLEASE DO NOT ACCESS AND/OR USE OUR ONLINE TRADING
FACILITY AND INFORM US IN WRITING IMMEDIATELY.
For the avoidance of doubt, we shall not be responsible for any unauthorized access and/or use of our Online
Trading Facility, in any way or manner, by Minors and/or Persons who cannot form legally binding contracts
under the law(s) applicable in their country of residence or, in the case of Legal Entities, in their country offormation, incorporation and/or domiciliation, and we are not responsible for determining whether any
Transactions and/or Contracts you may enter into via our Online Trading Platform are suitable, appropriate oradvisable to you.
In accordance with the foregoing, you hereby represent and warrant, without prejudice to any otherrepresentations, warranties and/or covenants made under this Agreement: (a) that you are an individual who,or a Legal Entity that, can form legally binding contracts under the laws applicable in your country of residence,or, in the case of a Legal Entity, in its country of formation, incorporation and/or domiciliation; (b) if you are an
individual, that you are above the age of 18 or otherwise above the legal age in your country of residence; (c)that all of the information provided by you to us for the purposes of, or in the context of, opening an Accountwith us and/or accessing and/or using our Online Trading Facility (in particular, but without limitation, in yourAccount Opening Application Form(s)) is correct and current; (d) that you have all necessary rights, powers andauthority to enter into this Agreement and to perform the acts required of you hereunder; (e) that you are not
a Politically Exposed Person, and you do not have any relationship (e.g., relative, associate, etc...) with a Person
who holds, or held during the last twelve (12) months, any public, political or governmental position.
To the extent that the party intending to open an Account with us or intending to access and/or use our Online
Trading Facility is a Legal Entity, you represent and warrant that you are legally authorized to bind such Legal
Entity for the purposes of this Agreement and/or the services to be provided hereunder, and that yourexecution and/or acceptance of the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, as provided herein, shall be binding on, and enforceable against, such
Legal Entity, for any and all purposes and intents of this Agreement.
IF ANY OF THE STATEMENTS SET FORTH IN THE IMMEDIATELY PRECEDING PARAGRAPH IS UNTRUE OR
INACCURATE WITH RESPECT TO YOU, PLEASE INFORM OUR CLIENT SUPPORT TEAM IMMEDIATELY IN
WRITING AND WE SHALL INFORM YOU IF, HOW AND/OR WHETHER YOU MAY CONTINUE TO ACCESS AND/ORUSE OUR SERVICES AND/OR ONLINE TRADING FACILITY.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
12In agreeing to these Terms and Conditions, you authorize us, or agents acting on our behalf to investigate yourcredit standing and in connection therewith to contact such banks, financial institutions and credit agencies as
we shall deem appropriate to verify such information. You further authorize us to investigate any current andpast investment activity, and in connection therewith, to contact such, exchanges, broker/dealers, banks, andothers as we shall deem appropriate.
EXPERIENCE AND KNOWLEDGE IN FINANCIAL MATTERS
Furthermore, our Online Trading Facility is available only to, and may only be used by Persons who havesufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks ofaccessing and/or using our Online Trading Facility and entering into Transactions and Contracts via our Online
Trading Facility, and who have done so without relying on any information contained on, or in our Online
Trading Facility and/or otherwise provided by us in relation thereto.
In accordance with the foregoing, you hereby represent, warrant and covenant, without prejudice to any otherrepresentations, warranties and/or covenants made under this Agreement: (a) that you have sufficientexperience and knowledge in financial matters to be capable of evaluating the merits and risks of entering into
Transactions and/or Contracts via our Online Trading Facility; (b) that you have done so without relying on any
information contained on or in our Online Trading Facility and/or otherwise provided by us in relation thereto:(c) that you act as Principal and sole beneficial owner (but NOT as trustee) in entering into this Agreement
and/or any Transactions and/or Contracts via our Online Trading Facility; (d) that, regardless of any subsequent
determination to the contrary, trading in financial contracts, Transactions and/or Contracts via our Online
Trading Facility (and in such other investments as we may from time to time agree) is suitable for you and thatyou are aware of all risks involved with such Transactions and/or Contracts; (e) that you are willing andfinancially able to sustain a total loss of funds resulting from any Transactions and/or Contracts entered into
via our Online Trading Facility; and (f) that you have read, and fully understood, the “Website Terms of Use”,
the “Risk Disclosures for Financial Statements & Investment Services”, the “Privacy Policy”, the “Conflicts ofInterest Management Policy”, the “Money Laundering & Terrorist Financing Prevention Policy” and the“Order Execution Policy”, as well as these Terms and Conditions and any additional documents, information
and/or other legal notices and statements (forming part of the Agreement or otherwise) contained on our
Online Trading Facility.
Without prejudice to any of the foregoing, we shall not be responsible for verifying and/or checking whether
you have sufficient knowledge and/or experience for accessing and/or using our Online Trading Facility and/or
entering into financial contracts via our Online Trading Facility, nor shall we be responsible for any damages
and/or losses incurred by you as a result of insufficient knowledge and/or experience.
IF YOU DO NOT QUALIFY, PLEASE DO NOT ACCESS AND/OR USE OUR WEBSITE(S), SERVICES AND/OR ONLINETRADING FACILITY, AND INFORM US IN WRITING IMMEDIATELY.

RIGHT TO CANCEL/COOLING OFF
The provisions of this Section shall only apply to you where you are classified as a ‘Retail Client’ (see further
below). You need not give any reason for the cancellation and the right to cancel applies, even if you havealready received Services from us before the cancellation period expires. The period for cancellation begins
on the date the Agreement starts to apply to you.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
13

AS THE PRICE OF EACH TRANSACTION OR CONTRACT ENTERED INTO VIA OUR ONLINE TRADING FACILITY
MAY DEPEND ON FLUCTUATIONS IN THE UNDERLYING INSTRUMENTS, WHICH ARE OUTSIDE OF OURCONTROL AND WHICH MAY OCCUR DURING THE CANCELLATION PERIOD, YOU HAVE NO RIGHT TO CANCELTHE AGREEMENT UNDER THIS SECTION IF ANY TRADE PLACED BY YOU AND/OR ANY TRANSACTION OR
CONTRACT ENTERE INTO BY YOU HAS BEEN EXECUTED BEFORE WE RECEIVE YOUR NOTICE OF CANCELLATION.
Following a valid cancellation, we will return any amounts you have deposited with us prior to receipt of thecancellation notice, subject to our right of set-off for any properly incurred charges incurred prior tocancellation.
If you do not exercise your right of cancellation, the Agreement will continue in effect until either you or weterminate the Agreement or by us exercising any of our rights to terminate under this Agreement. There isno minimum or fixed duration of the Agreement.
LEGAL RESTRICTIONS
Without limiting any of the foregoing, our Online Trading Facility is NOT available where it is illegal to accessand/or use, and we reserve the right to refuse, decline and/or cancel our Online Trading Facility and/or any
part or component thereof, at our sole discretion and for any reason, at any time, without being obliged toprovide you with any explanation or justification thereof.
In that regard, you understand that the laws regarding financial contracts vary throughout the world, and that
it is your, and your obligation alone, to ensure that you fully comply with any law, regulation or directive,
relevant to your country of residency, or, in the case of a Legal Entity, in its country of formation, incorporation
and/or domiciliation, with regard to accessing and/or using our Website9s), Services and/or Online Trading
Facility. For avoidance of doubt, the ability to access our Website(s), Services and/or Online Trading Facility
does NOT necessarily mean that our Website(s), Services and/or Online Trading Facility, and/or any activities
you may undertake through any of them, is/are legal under the laws, regulations or directives relevant to yourcountry of residency, or, in the case of a Legal Entity, in its country of formation, incorporation and/or
domiciliation.
IF OUR ONLINE TRADING FACILITY, AND/OR ANY ACTIVITIES YOU MAY UNDERTAKE THROUGH IT, IS/ARE NOTLEGAL UNDER THE LAWS, REGULATIONS OR DIRECTIVES RELEVANT TO YOUR COUNTRY OF RESIDENCY, OR,
IN THE CASE OF A LEGAL ENTITY, IN ITS COUNTRY OF FORMATION, INCORPORATION AND/OR
DOMICILIATION, PLEASE DO NOT ACCESS AND/OR USE OUR WEBSITE(S), SERVICDES AND/OR ONLINETRADING FACILITY AND INFORM US IN WRITING IMMEDIATELY.
Our Website(s) and/or Online Trading Facility do(es) NOT constitute, and may NOT be used for the purposes of,
an offer and/or solicitation to anyone in any jurisdiction in which such offer and/or solicitation is not authorized,
and/or to any Person to whom it is unlawful to make such an offer and/or solicitation. Access to and/or use of
our Website(s), Services and/or Online Trading Facility, and the offering of financial contracts via our Website(s)and/or Online Trading Facility, may be restricted in certain jurisdictions, and, accordingly, user accessing our
website(s) and/or Online Trading Facility are required to inform themselves of, and to observe, such
restrictions.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
14

IMPORTANT NOTE: WE DO NOT ACCEPT ANY TRADING FROM CLIENTS RESIDING IN THE UNITED STATES AND
WE DO NOT PROVIDE FINANCIAL SERVICES IN JAPAN. WE RESERVE THE RIGHT TO IMPOSE ADDITIONALREQUIREMENTS OR PRE-CONDITIONS TO ACCEPT CLIENTS RESIDING IN OR FROM SPECIFIC COUNTRIES AT
ANY TIME AND AT OUR SOLE AND EXCLUSIVE DISCRETION, WITHOUT BEING OBLIGED TO PROVIDE ANY
EXPLANATION OR JUSTIFICATION.
AMENDMENTS
We reserve the right to amend, alter, modify, delete or add to any of the provisions of the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, at any time andat our sole discretion, without giving any advance or prior notice.
When these the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, is/are modified (hereinafter referred to as “Change(s)”) we will post such Changes on
our Website(s) and/or Online Trading Facility and/or otherwise notify you of such Changes. Each such
notification shall be deemed as sufficient notice and it is your duty to consult and/or to check regularly theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, on our Website(s) and/or Online Trading Facility regarding any such Changes. Therefore, you should
review these pages from time to time so as to ensure that you will be aware of any such Changes.
All amended terms shall be effective five (5) Business Days after their initial posting on our Online Trading
Facility, or as of the first time that you access and/or use our Online Trading Facility after such amendments
were made, whichever is sooner.
Your continued access and/or use of our Online Trading Facility after the publication of any Changes shall beconsidered as your agreement to such modified Terms and Conditions and shall be governed by those Terms
and Conditions, as modified.
IF YOU DO NOT WISH TO BE BOUND BY SUCH CHANGES, YOU SHOULD CEASE TO ACCESS AND/OR USE OURWEBSITE(S), SERVICES AND/OR ONLINE TRADING FACILITY, AND INFORM US IN WRITING, IMMEDIATELY.
You will be deemed to have accepted and to have agreed to any such Changes unless you notify us to thecontrary in accordance with the details of the Changes notified in accordance with the foregoing within five (5)Business Days of the date of our notice of the relevant Changes. Where you object to a Change, the Change
will not be binding on you, but your Account will be suspended and you will be required to close your Accountas soon as it is reasonably practicable.
Any Change will supersede any previous agreement between us on the same subject matter and will govern
any Transaction and/or Contract entered into after, or outstanding on, the date the new edition comes into
effect.
Some areas or parts of our Website(s) and/or Online Trading Facility may have different specific terms of accessand/or use posted thereon. If there is a conflict and/or discrepancy between these Terms and Conditions andany such specific terms of access and/or use, the latter shall continue to have precedence with respect to youraccess and/or use of such relevant area or part of our website(s) and/or Online Trading Facility.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
15

ENTIRE AGREEMENT - SEVERABILITY
The Agreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, and the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, (together with the annexes, appendices, addenda, attachments, schedules and exhibits
and/or amendments thereof) represents the entire agreement between you and us concerning the accessand/or use of our Website(s), services and/or Online Trading Facility and it cancels and supersedes all previous
arrangements or agreements by and between you and us with respect to the subject matter thereof,
superseding any other communications or understandings between you and us, except as determined and/or
stated otherwise "in the terms agreed upon by mutual consent of the Parties".
Nothing contained in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, shall be construed as requiring the commission of any act contrary to any
Applicable Laws, Rules and/or Regulations. Whenever there is any conflict and/or discrepancy between any
provision of the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, and any present or future applicable statute, law, ordinance or regulation governing thetransactions hereunder, the latter shall prevail, but in such event the provision of the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, thus affected, shallbe curtailed and limited only to the extent necessary to bring it within the requirement of the law.
Each part of the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, is a distinct undertaking. In the event that any provision of the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, is held to be invalid,illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or part of a provision of the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, which shall remain
in full force and effect and shall in no way be affected or invalidated.

With respect to the provisions of the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, which are held to be invalid or unenforceable, in whole or in part, theParties will negotiate in good faith with the intention to replace the void provision with a valid one that in its
economic effect complies best with the void provision in a manner consistent with their joint intention as
expressed herein, and this Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, and the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, shall, to the fullest extent lawful, be reformed andconstrued as if such invalid or illegal or unenforceable provision, or part of a provision, had never been
contained herein, and such provision or part reformed so that it would be valid, legal and enforceable to the
maximum extent possible.
Without limiting the foregoing, if any provision (or part of provision) contained in the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, shall for any reason
be held to be excessively broad as to duration, activity or subject, it shall be construed by limiting and reducing
it, so as to be enforceable to the fullest extent compatible with then existing applicable law.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
16

DEFINITIONS
For the purpose of the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, unless the context otherwise requires, capitalized words and expressions shallhave the meanings assigned to them in the defined terms that are set forth in bold and italics: (A) hereinafter,
under the heading “Definitions”; and/or (B) throughout the text hereof:“Access Code”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any password(s),username, or any other security code issued by us to any of our clients, which would allow such clients toaccess and/or utilize our Online Trading Facility and/or Services;“Account”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, the uniquely
assigned account that is created for a client when such client opens a trading account with us and which we
maintain for the client for dealing in the Products or Services made available under the Agreement, and inwhich the client’s cash and assets are held and to which profits and/or losses realized by the client are debitedor credited;” Account Detailed Report” or “Account Summary” or “Account Statement”, when used in the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions, unlessthe context otherwise requires, shall mean a periodic statement of a client’s securities portfolio, open
positions, Margin requirements and/or cash deposits, and of the Transactions and/or charges credited ordebited to a client’s Account etc…, at a specific point in time;“Account Opening Application Form(s)”, when used in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, unless the context otherwise requires, shallmean the account opening documentation and forms posted on our Online Trading Facility, which need to be
downloaded, completed and returned to us by prospective clients for the purpose of opening an Account withus; we reserve the right to refuse and/or decline your account opening application(s), at our sole discretionand for any reason, without being obliged to provide any explanation or justification;“Affiliate” of a company or Person, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
any entity or Person that, directly or indirectly through one or more intermediaries, controls, is controlled byor is under common control with such company or Person; for purposes of this definition, the term “control”(including, with correlative meaning, the terms “controlled by” and “under common control with”), as usedwith respect to a company or Person in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, shall mean the possession, directly or indirectly through one
or more intermediaries, of the power to direct or cause the direction of management policies of such company
or Person, whether through ownership of voting securities or otherwise;“Agent”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an individual Personor legal entity undertaking a transaction on behalf of another individual Person or legal entity, but in that
represented Person or legal entity’s own name;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
17

“Agreement”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, as the same may be in force
from time to time and modified or amended from time to time;“Anti-Money Laundering (“AML”) & Know Your Customer (“KYC”) Legislation”, when used in the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions, unlessthe context otherwise requires, shall mean, collectively, Anti-Money Laundering And Counter-Terrorism
Financing Act No. 13 of 2014, on the prevention and suppression of money laundering and terrorist financing,as the same may be in force from time to time and modified or amended from time to time;“Associate(s)”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an undertaking inthe same corporate group as us, a Representative whom we or an undertaking in the same group as us may
appoint, or any other Person with whom we have a relationship that might reasonably be expected to give rise
to a community of interest between us and them;“Associated Company”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, in respect
to the Company, the Company’s subsidiaries or holding companies or subsidiaries of such holding companies,
which, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common
control with the Company; for purposes of this definition, the term “control” (including, with correlative
meaning, the terms “controlled by” and “under common control with”), as used with respect to an AssociatedCompany, shall mean the possession, directly or indirectly through one or more intermediaries, of the power
to direct or cause the direction of management policies of such Associated Company, whether throughownership of voting securities or otherwise;“Authorized Person” or “Attorney”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a
Person authorized by a client under a limited power-ofattorney, in accordance with these Terms and conditions,whom we agree may act for the client and or give instructions to us on the client’s behalf in respect of theseTerms and Conditions;“Balance”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the balance of aclient’s Account after the last Account transaction(s) made, within any given period of time;“Base Currency”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the currency in which
the client’s Account is denominated and in which we will debit and credit the client’s Account;“Business Day”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any calendar day(except any Saturday or Sunday) calendar day, beginning at 00:00 GMT + 11 and ending at 23:59 GMT + 11, on
which banks are open for business;

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.
18

“CFD Contract” or “CFD(s)”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean aspot and/or forward contract which is a ‘contact for differences’ by reference to fluctuations in the price of therelevant underlying exchange instrument (individual securities, and or baskets of securities, equity indices,precious metals, futures on equities and commodities, and or currencies (a ‘contact for differences’ oncurrencies is also referred to as “Spot Forex”); trading in CFDs is trading on the outcome of the price of anunderlying exchange instrument (e.g. an equity, currency or futures), whereby such trading does not occur on
a recognized or regulated “exchange”; trading in CFDs is not subject to delivery of the underlying exchange
instrument and/or any other interest; accordingly, the result of trading in CFDs is the difference between selland buy CFD transactions only.
“Client’ or “client”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean “you” or “your” and,in more general terms, any Person (A) who is interested in OTC Transactions and/or Contracts, (B) who entersor has entered our Online Trading Facility, and/or (C) who has submitted to us all required Account Opening
Application Form(s) - including in each instance, without limitation, an original certified unexpired governmentissued identification evidencing nationality, residence and bearing a photograph (e.g., passport, government
residency card, or similar identification), and a valid recent official utility (water, gas, electricity, etc.) bill
showing name and address, as required under any relevant “Anti-Money Laundering (“AML”) & Know Your
Customer (“KYC”) Legislation”, obligations and/or procedures applicable to us, and whom has been accepted
as a client by us in accordance with the terms of the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, in the manner set forth herein, and to whom
Services will be provided by us;“Client Asset Rules”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean those
Bermuda Rules that concern the holding and management of Custody Assets;“Client Classification”, when used in the Agreement, unless the context otherwise requires, shall mean ouroverall, product-, or transaction specific classification of clients;“Client Money”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, in accordance with
the Client Money Rules, money of any currency that we receive or hold for the client, or on the client’s behalf,in the course of or in connection with, the business contemplated by the Agreement, other than money whichis due and payable by the client to us or any third party;“Client Money Rules”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean those
Bermuda Rules that concern the holding of Client Money;“Closing Date”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the date on which aTransaction is closed by either the client or by us in accordance with these Terms and Conditions;“Closing Notice”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a notice given to theclient by us to close all or part of any Transaction (margined or otherwise) via our Online Trading Facility or bytelephone;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

19

“Closing Price”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean in the case of a CFD
the Contract Investment Price at the time a Closing Notice is effective as determined by us or the Contract
Investment Price at the time a CFD is closed out by us exercising any of our rights under these Terms andConditions; in the case of a Rolling Spot Forex Contract, the exchange rate at which the client can buy if the
Rolling Spot Forex Contract the client wishes to close was a ‘sell’, and/or the exchange rate at which the client
can sell if the Rolling Spot Forex Contract the client wishes to close was a ‘buy’;“Collateral”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any securities orother assets deposited with us as a continuing Security and collateral for the payment and discharge of all
obligations owing to us in relation to any Services provided by us under and/or pursuant to this Agreement;”Commission, Charges & Margin Schedule”, when used in the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, unless the context otherwise requires,shall mean the schedule of commissions, charges, Margin, interest and other rates which at any time may be
applicable to our Services as determined by us on a current basis; the Commission, Charges & Margin Schedule
is available on our Online Trading Facility and may be supplied separately on demand;“Complex Product”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean certain
derivative products such as, without limitation, Rolling Spot Forex Contracts, CFDs, warrants, covered warrants,
and certain shares if they are not listed on a
Regulated Market or on a Market which has equivalent standards of regulation as in the EEA Market;“Conflict of Interest Policy”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
our prevailing policy regarding conflicts of interest, which is posted on our Online Trading Facility and may besupplied separately on demand; our Conflicts of Interest Policy is a policy only, it is not part of our Terms andConditions of Business;“Contract”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any contract,whether oral or written, for the purchase or sale of any commodity, security, currency or any other Supported
Financial Instrument or property, including, without limitation, any derivative contracts, such as CFDs, Spot
Forex or other transactions related thereto, entered into by and between us and our client(s);“Confirmation”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a notification fromus to the client confirming the client’s entry into a Transaction;“Contract Investment Price”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the current price of an Underlying Instrument, as determined by us;“Contract Quantity”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the total
number of shares, contracts or other units of the Underlying Instrument that the client is notionally buying or
selling;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

20

“Contract Value”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the Contract
Quantity multiplied by our then current Quote for closing the Transaction;“Corporate Action”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean theoccurrence of any of the following in relation to the issuer of any relevant Financial Instrument and/or
Underlying Instrument: rights, scrip, bonus, capitalisation or other issue or offer of shares/Equities ofwhatsoever nature or the issue of any warrants, options or the like giving the rights to subscribe forshares/Equity; acquisition or cancellation of own shares/Equities by the issuer; any reduction, subdivision,consolidation or reclassification of share/Equity capital; any distribution of cash or shares, including any
payment of dividend; a take-over or merger offer; amalgamation or reconstruction affecting theshares/Equities concerned; and/or any other event which has a diluting or concentrating effect on the market
value of any share/Equity which is an Underlying Instrument or otherwise;“Counterpart(y)ies”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean banks
and/or brokers through whom we may cover our transactions and/or Contracts with client(s);“Credit Limitation”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean theexistence of a restriction on the ability to trade with a Client based on our credit exposure/Margin
requirements towards such client;“Credit Support Document”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
any guarantee, hypothecation agreement, margin or security agreement, or any other document containing
an obligation of a third party or of the client in our favour supporting any of the client’s obligations under theseTerms and Conditions;“Credit Support Provider”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any Person
who has entered into any guarantee, hypothecation, agreement, Margin or Security agreement in our favour,in respect a client’s obligations under this Agreement;“Custody Assets”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any shares, stocks,
debentures, bonds, securities, or other similar property (including evidence of or title to Securities and allrights in respect of Securities) deposited or transferred by the client or on the client’s behalf with or to us orwith or to our sub-custodian or collected by us or by our sub-custodians for the client’s Account;“Dealable Quote”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a Price Quote thatby its terms is capable of being used for the purpose of effecting a Transaction and/or Contact;“Deal Request”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an electronic
message sent by a client via our online Trading Facility, requesting us to enter into a purchase Transaction orsale Transaction at our prevailing Price Quote for such Transaction and/or Contract, as displayed on our Online
Trading Facility;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

21

“Deal Response”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, with respect to aparticular Deal Request sent by a the client to us via our online Trading Facility, an electronic message sent by
us to such client via our Online Trading Facility, acknowledging receipt of the Deal Request and confirming,
whether or not we have agreed to accept the terms of the Deal Request submitted by the client and, as thecase may be, acknowledging the execution of a purchase Transaction or sale Transaction requested by theclient by means of his/her/its Deal Request;“Deposit(s)", when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the funds deposited
and/or transferred by clients into their Account(s) with us;“Discretionary Investment Management Service”, when used in the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions, unless the context otherwise
requires, shall mean the services described in specific sections of these Terms and Conditions;“Durable Medium”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any
instrument which enables clients to store information in a way accessible for future reference for a period oftime adequate for purposes of the information and which allows the unchanged reproduction of theinformation stored;“Effective Date”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the date on which
this Agreement enters into effect, as indicated on the confirmation e-mail sent by us to a client, indicating thatsuch client’s Account Opening Application Form(s) has/have been accepted;“Electronic Messaging”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any form ofelectronic communication we use to communicate with our clients about our Online Trading Facility (including,
without limitation, with reference to any Transaction(s) or Contract(s) entered into via our Online Trading
Facility), including, but not limited to, electronic mail, whether or not within the framework of our Online
Trading Facility itself and/or within the Online Trading Facility’s mailbox(es);“Electronic Services”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a service
provided by us, for instance, an internet trading service offering clients access to information and trading
facilities, via an internet service, a WAP service and/or other electronic Order routing system;“Equity”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the “value” of an
Account at the present time; it is calculated by taking the total value of all open positions relating to theTransactions and/or Contracts generated through the Account, increased with all ‘Floating Profit/Loss’, andadding that value to the Account Balance;“Electronic Trading Platform(s)”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the online electronic trading platform(s) that is/are made available by us to our clients for placing Orders,requesting Price Quotes for Transactions and/or Contracts, receiving price information and market related
news as well as having a real-time revaluation of their open positions, through the Internet, where Transactions
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

22and/or Contracts in “Financial Instruments” can be processed through deal Requests and Deal Responses,
Settlement/Trade Confirmations can be issues, Accounts can be managed and historical data can be stored andmanaged;“Equity Share”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean shares comprised in
a company’s equity share capital;“Event of Default”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall have the meaning given tothis term the relevant Section of the Terms and Contidions;“Exceptional Market Event”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the suspension, closure, liquidation, imposition of limits, special or unusual terms, excessive movement,
volatility or loss of liquidity in any relevant Market or Underlying Instrument, or where we reasonably believethat any of the above circumstances are about to occur;"Execution of Orders” on behalf of clients, when used in the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, unless the context otherwise requires,shall mean acting to conclude agreements to buy or sell one or more financial instruments on behalf of clients;“Financial Instrument(s)”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any of the
instruments, which provide for the provision of investment services, the exercise of investment activities, theoperation of regulated markets and other related matters, as the same may be modified and amended fromtime to time, and/or such other investments instruments that may be offered for trading on or through our
Online Trading Facility;“Force Majeure Event”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any
breakdown or failure of any transmission or communication system or equipment or computer facility or
trading software, whether belonging to us or to any of our Associated Companies, the client, any Market, or
any settlement or clearing system when the client trades online (via Internet) or for any cause preventing us
from performing any or all our obligations, any act of God, war, terrorism, malicious damage, civil commotion,industrial acts, any Exceptional Market Event, or acts and regulations of any governmental or supra national
bodies or authorities which in our reasonable opinion prevent an orderly market in relation to the client’sOrders;“Fraud Traffic”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean Deposits or traffic
generated towards our Online Trading Facility through illegal means or in bad faith to defraud the system,
regardless of whether or not it actually causes us any harm; Fraud Traffic shall include, but shall not be limited
to, Spam, false advertising and deposits generated on stolen credit cards, collusion, manipulation of theservice, system, bonuses or promotions, offers to share commission(s) or bonuses directly or indirectly withtraders, and any other unauthorized use of any third party accounts, copyrights or trademarks;“Floating Profit/Loss”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the
unrealized profit (loss) of open positions relating to Transactions and/or Contracts in Supported Financial
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

23

Instruments, generated through an Account at current prices of the Underlying Instruments (currencies,
contracts or stocks, equity indexes, precious metals or any other commodities) available for trading;“Free Margin”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the funds not usedas guarantee to open positions relating to Transactions and/or Contracts entered into through an Account; itis calculated by taking the Equity in the Account and subtracting the Margin required to open positions relating
to Transactions and/or Contracts entered into through the Account;“Traders Trust” or “we” or “our” or “us”, when used in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, unless the context otherwise requires, shallmean our Online Trading Facility and its operator, ‘TTCM Capital Markets Limited’, and any of its designatedand permitted successors, assigns and those of its subsidiaries and affiliates that are identified further in thisAgreement;“Indicative Quote”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a Price
Quote other than a Dealable Quote;” Inside Information”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean nonpublished information which is likely to have a noticeable effect on the pricing of a Transaction and/or Contract
if it was made public;“Instruction(s)”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean dealing instructions
and/or Orders given to us electronically via our Online Trading Facility; we may, at our sole discretion (but shallunder no circumstances be obliged to do so) accept instructions from you in writing (including fax), by e-mailor other electronic means, or orally (including by telephone) or as otherwise notified to you in writing;“Intellectual Property Assets”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean:(a) our Online Trading Facility; (b) our Services; (c) any other of our platforms or Software (including, without
limitation, Demos and any relevant System Documentation and/or users' manuals); (d) this Agreement; (e) thePrice Quotes we provide; and/or (f) any Pricing Data or other information transmitted via our Online Trading
Facility or otherwise, including, without limitation, all Intellectual Property Rights, directly or indirectly
pertaining thereto;“Intellectual Property Rights”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
all intellectual property rights such as; patents, trademarks, service marks, word marks, copyrights, databaserights, topography rights, industrial design, know-how, trade secrets, trade names, logos, designs, symbols,
emblems, insignia, slogans, drawings, plans and other identifying materials, in all forms whether or not
registered or capable of registration and any other rights relating to intellectual property in accordance with
and/or under and/or pursuant to Applicable Laws, Rules and Regulations;“Introducing Broker”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a Person or
firm who acts on behalf of the client to effectuate an introduction of the client to us and who is not an Agentof us, but which may be remunerated by us and/or our clients for referring of clients to us and/or for theprovision of advice to such clients and/or execution of such clients’ Transactions and/or Contracts towards us;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

24

"Investment Services" and/or “Investment Activities”, when used in the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions, unless thecontext otherwise requires, shall mean any of the services and activities, which provides for the provision of
investment services, the exercise of investment activities, the operation of regulated markets and other related
matters, as the same may be modified and amended from time to time
"Investment Advice", when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean theprovision of personal recommendation to a client, either after the client’s request, or on our own initiative, in
relation to one or more Transactions related to Financial Instruments; for the purposes of this definition, apersonal recommendation is a recommendation that:is made to a person in his capacity as a client or potential client, or in his capacity as an agent of a client or apotential client; is presented as suitable for the client, or is based on a consideration of the circumstances of
the client and advises the client to take one of the following sets of steps:(i) to buy, sell, subscribe for, exchange, redeem, hold or underwrite a particular Financial Instrument;(ii) to exercise or not exercise any right conferred by a particular financial instrument to buy, sell, subscribe for,exchange, or redeem a financial instrument; but does not include a recommendation that is issued exclusively
through distribution channels or to the public;“LAMM”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an abbreviation for‘Lot Allocation Management Module’, which means that a money manager has the ability to trade various
customer accounts individually while managing all of them through a single interface, allowing money
managers to trade, monitor, and print reports on several accounts without the need to log in to each customer
account separately. As the money manager is managing the customers’ accounts separately, the Margin, profit
and losses, and roll-over fees will vary between the various customers;“Limited Power-of-Attorney”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the document through which the client appoints an Agent or representative to act and/or give instructions on
its behalf in respect of the Agreement;“Manifest Error”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a manifest or obvious
misquote by us, or any Market, exchange, price providing bank, information source, commentator or official
on whom we reasonably rely, having regard to the current market conditions at the time an Order is placed;
when determining whether a situation amounts to a Manifest Error, we may take into account all informationin its possession including, without limitation, information concerning all relevant market conditions and any
error in, or lack of clarity of, any information source or announcement;“Margin”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a deposit of funds
or other collateral acceptable to us as security for payment of any losses incurred by the client in respect of
any Transaction and as a necessary guarantee to open positions relating to Transactions and/or Contracts
entered into by the client, as determined in and/or required under the ‘Spreads and Conditions Schedule’
posted on our Online Trading Facility; the client must satisfy any and all Margin
Requirements immediately as a condition to opening the relevant Margined Transaction and we may decline
to open any Margined Transaction if the client does not have sufficient funds in its Account to satisfy the Margin
Requirement for that Transaction at the time the relevant Order is placed;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

25

“Margin Call” or “Margin Call Warning”, when used in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, unless the context otherwise requires, shallmean a mandatory request issued by us to increase the Margin deposited in a client’s Account in order tosecure the open positions relating to Transactions and/or Contracts entered into through an Account, as we
may reasonably require for the purpose of protecting ourselves against loss or risk of loss on present, future
or contemplated transactions under these Terms and Conditions; when the Margin posted in an Account isbelow the minimum Margin requirement specified in our Order execution Policy on our Online Trading Facility,
we may, but shall have no obligation whatsoever, issue a Margin Call and in this case the client will have toeither increase the Margin that he/she has deposited in his/her Account, or to close out his/her position(s); if
the client does not do any of the aforementioned, we shall be entitled to close all open positions relating to
the Transactions and/or Contracts entered into through the Account; in that regard, it should be noted that
our Online Trading Facility operates with an automated risk monitoring, and Margin Call facility designed tomonitor the overall utilization of clients’ available collateral in support of our prevailing Margin and cash
funding requirements for the Transactions and/or Contracts they are entering into via our Online Trading
Facility; using this automated Margin monitoring facility, we will, unless otherwise stated, apply initial,
maintenance or close out Margin call at the prevailing Margin Call levels, as stated from time to time in ourOrder Execution Policy on our Online Trading
Facility;“Margin Level”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an index calculated
as follows: Equity/Margin;“Margin Requirement”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the amountof money and/or assets that the Client is required to deposit and/or hold with us as consideration for entering
into a Transaction and/or maintaining an Open Position, as determined in and/or required under the ‘Spreads
and Conditions Schedule’ posted on our Online Trading Facility;” Margin Trade” or “Margined Transaction”, when used in the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, unless the context otherwise requires,shall mean any Transaction and/or Contract liable toMargin, opened and maintained as based on a Margin deposit, as opposed to a Transaction and/or Contract
opened and maintained as based on a purchase price;“Market”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any regulated
market, or multilateral trading facility subject to government or state regulation with established trading rules
and trading hours on which Underlying Instruments are being traded;“Market Disruption”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, withrespect to any Financial Instrument, the occurrence of any event or condition which in our good faith opinion
has a (a) material influence on the liquidity of, or volatility of foreign exchange rates for, the relevant Underlying
Instrument; (b) material influence on the settlement of transactions in relevant Underlying Instruments and,
therefore, on the settlement of related Financial Instruments; or impairs our ability to provide Price Quotes
which reflect the supply and demand for relevant Financial Instrument, due to the fact that the settlement of
the relevant Underlying Instruments is impaired; Market Disruption shall include but not be limited to, theimposition by any government authority, central bank or multinational organization of material restrictions orlimitations on the trading, transfer or settlement of transactions in any Underlying Instrument(s) (such as, theTTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

26

imposition of price controls, currency exchange controls, mandatory exchange rates with respect to a particular
Underlying Instrument), which have or may have a material influence on the settlement of Transactions and/or
Contracts in related Financial Instruments;“Market Maker”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a professional
participant in the financial markets who continuously quotes both a buy and a sell price in Financial
Instruments or commodities held in inventory in order to buy and sell respectively in the event of interested
clients, hoping to make a profit on the bid-offer spread, or turn; as such, market makers are net sellers of an
option to be adversely selected at a premium proportional to the trading range at which they are willing toprovide liquidity;“Market Order”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an Order to enter
the Market at the best current price offered by us at that time;"Market Rate", when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, at any given time,
the rate conclusively determined (in the absence of Manifest Error) by a Party to be the market rate available
to that Party in the Market at such time for the purchase of a specified Financial Instrument, with a second
specified Financial Instrument for delivery on a specified date;“Market Rules”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the rules,
regulations, customs and practices from time to time of any exchange, clearing house or other organization ormarket involved in the conclusion, execution or settlement of purchase and/or sale transactions in in
Underlying Instruments, and/or any exercise by any such exchange, clearing house or other organization ormarket of any power or authority conferred on it;"Money-market Instrument(s)", when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
those classes of instruments which are normally dealt in on the money market, such as treasury bills,
certificates of deposit and commercial papers, excluding instruments of payment;“MT4 Program”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the version of the‘Metatrader 4 online trading platform’ that is incorporating a third party bridge; the client understands that its
trading access to the MT4 Program is provided by ‘MetaQuotes Software Corporation’, and not by theCompany; the client acknowledges that ‘MetaQuotes Software Corporation’ is an independent third party
unrelated to the Company;"Multilateral Trading Facility" or "MTF", when used in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, unless the context otherwise requires, shallmean means a multilateral system operated by an Investment Firm or Market Operator, which brings together
or facilitates the bringing together of multiple third-party buying and selling interests in financial instruments- in the system and in accordance with its nondiscretionary rules - in a way that results in a Contract and/orTransaction in relation to one or more Financial Instruments; for the purposes hereof, the term “Market
Operator” or “Operator” shall mean means a legal person that manages and/or operates the business of aregulated market, and includes the regulated market itself;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

27

“Netting Transaction”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a transaction
which is intended to be subject to the clauses entitled “Netting” hereinafter, and for such purposes is identified
as a “Netting Transaction” herein or by its own terms;“Nominee”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the Company’s
nominee;“Non-Complex Product”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean certain
products including, without limitation, shares traded on a Regulated Market or an equivalent Market outside
Europe, as well as bonds and units in a regulated collective investment scheme;“Non-Hedging Setting”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the settingthat is enabled when the client disables the Hedging Setting on our Online Trading Facility preventing the clientfrom hedging investment positions;“Non-Professional User”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a Person
who: (a) subscribes to our Online Trading Facility as a private individual and in a personal capacity; (b) is not
currently registered or qualified as a professional securities trader, investment adviser or investment manager
with any national or state exchange, regulatory authority, professional association or recognized professional
body; (c) does not currently act in any professional capacity as a securities trader, an investment adviser or aninvestment manager whether or not he has at some time been qualified to do so; and (d) uses the Online
Trading Facility solely in relation to the management of his own personal funds and not as a trader to the public
or for the investment of corporate funds;“Online Trading Facility”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean, collectively
and/or individually, as the context requires, all Website(s), Electronic Trading Platform(s), Software and/or
Services provided by us, from time to time under and/or pursuant to the Terms of this Agreement;“Open Position”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a Transaction which
has not been closed in whole or in part under these Terms and Conditions;

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

28

“Order” when used in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, unless the context otherwise requires, shall mean a client’s Order to enter into a
Transaction and/or Contract in respect of a particular Financial Instrument offered by the us from time to time,
at a price quoted by us as appropriate, on conditions stipulated in the Order by default, an Order is unlimited(“GTC – Good Till Cancel”), but we and/or the client may define the time of expiration of the Order; basic typesof Order include the following: (a) a “Market Order” which is an Order instantly executed against a price that
we have provided via our Online Trading Facility; the following features may be attached to a ‘Market Order’:(i) ‘Stop Loss’ (an Order to close a previously opened position at a price less profitable than the price at thetime of placing the Order) is an Order to limit losses, whereas (ii) ‘Take Profit’ (an Order to close a previously
opened position at a price more profitable than the price at the time of placing the Order) is an Order to limit
profits; and a “Pending Order”, which is an Order to be executed at a later time at the price specified in theOrder; we will monitor a ‘Pending Order’ and when the price provided by us reaches the price specified in theOrder, the Order will be executed at that price; the following types of Pending Orders are available: (i) ‘Buy
Limit’ (an Order to purchase a Financial Instrument at or below a specified price), (ii) ‘Buy Stop’ (an Order tobuy a Financial Instrument, which is entered at a price above the current offering price; it is triggered whenthe market price touches or goes through the buy stop price); (iii) ‘Sell Limit’ (an Order to sell a Financial
Instrument at a specified price or better); and (iv) ‘Sell Stop’ (an Order to sell a Financial Instrument when it
reaches a certain price); the following features may also be attached to any ‘Pending Order’: (i) ‘Stop Loss’
and/or (ii) ‘Take Profit’;“Order Execution Policy” when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean ourprevailing policy posted on our Online Trading Facility regarding best execution when executing client Orders;
our Order Execution Policy is not part of our Terms and Conditions of Business, but shall nonetheless beapplicable to all Transactions entered into by our clients via our Online Trading Platform, provided, however,that it does not impose and/or does not seek to impose any obligations on us which we would not otherwise
have;“Over-the-Counter” or “OTC”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall refer to‘Over-the-Counter’ trading (not on a regulated “exchange”, or “off-exchange”); any or property, including any
option, future, or CFD, which is NOT traded on a regulated stock or commodity exchange, but is traded “overthe-counter”, as described hereinabove, or otherwise;“P&L”, when used in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, unless the context otherwise requires, shall mean the total of the client’s profits(whether realized or not) less the client’s losses (whether realized or not);“PAMM”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall refer to an abbreviationfor ‘percentage allocation management module’, which means that a money manager is able to trade the fundsof several customers at the same time under one master account; that master account is only a reflection of
the sum of the various customers’ accounts. Margin, profits and losses, commissions, and roll-over fees oneach position are allocated to each customer’s account based on the percentage of the master account thatthey make up;“Party”, when used in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, unless the context otherwise requires, shall refer to us and/or our client(s), as thecase may be, as it appears from the context in which this term is used in this Agreement; we and our client(s)may, collectively, be referred to in this Agreement as the “Parties”;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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“Person”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean an individual,
corporation, partnership, trustee, trust, regulatory body or agency, government or governmental agency orentity (however designated or constituted), or any unincorporated organization;“Personal Data”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean and, collectively,
include any information relating: (i) to an identified or (ii) to a directly or indirectly identifiable, natural or legal
Person, including, but not exclusively, any data on us, our employees, directors, shareholders, prospects,
contacts and/or suppliers and and/or our client(s);“Pip(s)”, when used in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, unless the context otherwise requires, shall mean the smallest numerical value ofa Price Quote (the last digit to the right of the decimal point); ‘Pip’ value can be either fixed or variable
depending on the currency pair (e.g. the pip value for EUR/USD is always $10 for standard lots, $1 for mini-lots
and $0.10 for micro lots); the term “Pip(s)” is synonymous and interchangeable and may be used in thisAgreement in an interchangeable way with the terms“Point(s)” and “Tick(s)”;"Portfolio Management", when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean managing
portfolios in accordance with mandates given by clients on a discretionary client-by-client basis where such
portfolios include one or more Financial Instruments;“Pricing Data”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean all pricing data
generated by the pricing engine integrated in our Online Trading Facility and fed to our Online Trading Facility
on a real time/delayed/end of day/historical basis, specifying the market prices of the Supported Financial
Instruments traded on our Online Trading Facility;“Price Quote(s)” or “Quote(s)", when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
an electronic message disseminated via our Online Trading Facility containing a ‘Transactional Ask Price’ anda ‘Transactional Bid Price’ as well as other parameters such as indication of whether the Price Quote isconsidered as a ‘Dealable Quote’ or an ‘Indicative Quote’; for the purposes hereof, the term “Dealable Quote”,
when used in the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, unless the context otherwise requires, shall mean a Quote that by its terms is capableof being used for the purpose of effecting a Transaction, and the term “Indicative Quote”, when used in theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, unless the context otherwise requires, shall mean a Quote other than a Dealable Quote; all Price
Quotes will be clearly marked as Indicative or Dealable; the message update frequency on our Online Trading
Facility is controlled by us at our sole discretion;“Principal”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the individual Personor the legal entity which is a party to a transaction (including, without limitation, the Agreement, these Terms
and Conditions, Transactions, Contracts and or any other legally binding obligations, terms contracts and/or
agreements);

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

30

“Prohibited Software”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any softwarethat gives traders an unfair advantage; items that fall into this category shall include, but shall not be limited
to, specialized software programs that are designed to exploit possible price latencies on our Online Trading
Facility or that allow for the use of technological and/or algorithmic trading pattern that are aimed at exploiting
price latency arbitrage opportunities on our Online Trading Facility as further specified, without limitation;“Regulated Market”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean amultilateral trading system operated by a market operator in the EEA that brings together multiple third party
buying and selling interests in financial instruments where the instruments traded are admitted to the Market
according to its rules and systems;“Representative(s)”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean directors,
officers, employees, lawyers, advisers, agents, licensees or other authorized representatives;“Rolling Spot Forex Contract”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
any OTC contract which is a purchase or sale of foreign currency entered into between the client and us,
excluding forward contracts;“Secure Access Website(s)”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the password protected part of our Website(s) (or any website notified to the client by us) through which theclient can view its Account information;“Secured Obligations”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a continuing
security interest for the performance of all of the client’s obligations (whether actual, contingent, present or
future) to us under or pursuant to these Terms and Conditions;“Security”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any cash, securities
or other assets deposited with the Company by way of Collateral;“Service Provider”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a person or firm who
provides a third party service to the client which is compatible with or enhances our Services, and who is not
an agent of us;“Services”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the services to beprovided by us to our client(s) construed by these Terms and Conditions; the term “Services” shall be inclusiveof any dealing, Order routing, advisory or other services, which we provide from time to time to our client’s byremote access to our Online Trading Facility via the Internet and which are subject to these Terms andConditions;

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

31

“Settlement Confirmation” or “Trade Confirmation” or “Settlement/Trade Confirmation”, when used in theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, unless the context otherwise requires, shall mean a notification from us to a client confirming theclient’s entry into a Transaction and/or Contract;"Spot” or “Spot Basis", when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean cash
settlement being two (2) Business Days from the deal date;“Spreads and Conditions Schedule”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the schedule of spreads, charges, Margin, interest and other rates which at any time may be applicable to ourServices, as determined by us on a current basis; the Spreads and Conditions Schedule is available on our
Online Trading Facility and may be supplied to our clients on demand;“Spyware”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean a type of malware
that can be installed on computers, and which collects small pieces of information about users without theirknowledge; the presence of spyware is typically hidden from the user, and can be difficult to detect; typically,
spyware is secretly installed on the user's personal computer;“Supported Financial Instruments”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean
the Financial Instruments for which we provides quotations via the Online Trading Facility, i.e., contracts fordifferences, spot or forward contracts of any kind in relation to any commodity, precious metal, financial
instrument (including any security), currency, interest rate, index or any combination thereof, as well as and/or
any other derivative financial instrument on which we both agree, in the Agreement and/or any agreements
by and between us, including, without limitation, these Terms and Conditions, or otherwise "in the terms
agreed upon by mutual consent of the Parties"; we reserve the right to modify the Supported Financial
Instruments quoted through our Online Trading Facility at any time without prior notice, without being obliged
to provide you with any explanation or justification;“Swap”, when used in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, unless the context otherwise requires, shall mean the funds withdrawn or added
to a client’s Account from rolling over (transfer) of open positions relating to Finance Transactions generated
through an Account, to the next day;“System Disruption(s)”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean theoccurrence of any event which in our good faith opinion materially prevents or limits our ability or our clients’ability from accurately and completely (i) distributing or receiving ‘Price Quotes’, ‘Deal Requests’ or ‘Deal
Responses’; or (ii) recording or maintaining the terms of any Transactions and/or Contracts; or (iii) entering
into related hedging transactions on an automated basis;“Terms” or “Terms and Conditions”, when used in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context otherwise requires, shall meanthese Terms and Conditions governing our clients’ relationship with us;“Transaction”, when used in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, unless the context otherwise requires, shall mean any transaction orcontract in a financial instrument or any other contractual arrangement entered into between the client via
our Online Trading Platform, including, without limitation, a Margined Transaction as defined in these Terms
and Conditions, and shall include, without limitation: (a) transactions in Supported Financial Instruments
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

32

(including, without limitation, contracts for differences, spot or forward contracts of any kind in relation to any
commodity, metal, financial instrument (including any security), currency, interest rate, index or any
combination thereof); (b) transactions, which are matched with any such Supported financial Instruments(including, without limitation, contracts for differences, spot or forward contracts of any kind in relation to any
commodity, metal, financial instrument (including any security), currency, interest rate, index or any
combination thereof); and/or (c) any other transaction which we both agree, in the Agreement and/or any
agreements by and between us, including, without limitation, theseTerms and Conditions, or otherwise "in the terms agreed upon by mutual consent of the Parties", shall be a
Transaction;"Transferable Securities", when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean thoseclasses of securities which are negotiable on the capital market, with the exception of instruments of payment,such as:shares in companies and other securities equivalent to shares in companies, partnerships and other entities,
and depositary receipts in respect of shares;
bonds or other forms of securitised debt, including depositary receipts in respect of such securities,
any other securities giving the right to acquire or sell any such transferable securities or giving rise to a cash
settlement determined by reference to securities, currencies, interest rates or yields, commodities or otherindices or measures;“the Traders Trust Website(s)” or “Traders Trust’ Website(s)” or our “Website(s)”, when used in the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions, unlessthe context otherwise requires, shall mean the Website(s), which is/are privately labelled, owned and hosted
by us, and which is/are designed to attract and solicit and obtain online registrations from prospective, newclients that are interested in OTC Transactions and/or Contracts, and its related pages, as displayed at thefollowing URL: http://www.traders-trust.com;“Transactional Ask Price” or “Ask Price”, when used in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, unless the context otherwise requires, shallmean the price rate at which a Supported Financial Instrument is offered for sale via the Online Trading Facility;“Transactional Bid Price” or “Bid Price”, when used in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, unless the context otherwise
requires, shall mean the price rate at which a Supported Financial Instrument is offered to be bought via theOnline Trading Facility;“Underlying Instrument”, when used in the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, unless the context otherwise requires, shall mean the index,
commodity, currency, Equity or other instrument, asset or factor whose price or value provides the basis for us
or any third party to determine its price or the executable price for a Market or product.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

33

INTERPRETATION
Any reference in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, and the annexes, appendices, addenda, attachments, schedules and exhibits
thereof, to a document being "in the terms agreed upon by mutual consent of the Parties" shall mean, unlessthe context otherwise requires, that document in the terms mutually agreed upon by and between the Parties
and for the purposes of identification and documentation thereof signed by each of the Parties, or such otherterms as may be agreed upon by mutual agreement of the Parties and executed by each of the Parties in writing
in substitution therefor.
In the Agreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, and the annexes, appendices, addenda, attachments, schedules and exhibits thereof,, unless thecontext otherwise requires, references to any provision shall include such provision as from time to timeamended, whether before, or on (in the case only of re-enactment or consolidation without substantive
amendment) after the Effective Date, and shall be deemed to include provisions of earlier legislation whichhave been re-enacted (with or without modification) or replaced (directly or indirectly) by such provision, andshall further include all statutory instruments or Orders from time to time made pursuant thereto.
In the Agreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, and the annexes, appendices, addenda, attachments, schedules and exhibits thereof,, unless thecontext otherwise requires: (a) the masculine gender shall include the feminine and neuter and the singularnumber shall include the plural and vice versa; (b) references to Persons shall include individuals, bodies’
corporate, un-incorporated associations and partnerships; (c) the headings are inserted for convenience onlyand shall not affect the construction and interpretation of the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions,; (d) references to recitals, clauses andannexes, schedules and exhibits and any subdivisions thereof, unless a contrary intention appears, shall be to
the recitals, clauses and annexes, schedules and exhibits and subdivisions of the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions,.
The annexes, appendices, addenda, attachments, schedules and exhibits and the Pre-amble and Recitals set
forth hereinabove form an integral part of the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, and shall be construed as having the same full force
and effect as if they would be expressly set forth in the body of the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions.
Unless the context otherwise requires, any reference in the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, to a “document” shall be construed toinclude any ‘electronic’ document. Where any form of the word “including” appears in the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, it will beinterpreted as if followed by the phrase “without limitation”, unless the context requires otherwise.
Where any form of the word “Online Trading Facility” appears in the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions, it will be interpreted as if followedby the phrase “and/or any component or part thereof”, unless the context requires otherwise.
Where any of the words “purchase” and/or “sale” and/or “buy” and/or “sell” appear in the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, unless thecontext otherwise requires, they will be read and construed as technical terms only, as the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, does NOT
envisage the transfer of title to any Financial Instruments (“delivery”) traded hereunder.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

34

Whenever reference is made in the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, to ‘us’ or ‘we’, such reference shall be deemed to include, whereappropriate, unless the context requires otherwise, to our directors, officers, shareholders, partners, members,
employees, Agents, third party service providers, Representatives and/or Affiliates (together our “Associates”).
Words and phrases defined in the BERMUDA Rules shall have the same meaning in the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, unless expressly
defined otherwise in the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, and/or unless the context requires otherwise. If there is any conflict and/or
discrepancy between words and phrases defined in the BERMUDA Rules and any such words and phrases
defined in the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, the meaning attributed to such words and phrases in the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, shall prevail.

CHAPTER C: ACCESS AND USE OF OUR ONLINE TRADING FACILITY
LIMITED LICENSE TO ACCESS AND USE OUR ONLINE TRADING FACILITY
Subject to the Terms and Conditions set forth herein, we hereby grant you a non-exclusive, revocable, nontransferable, limited and personal license (which is incapable of sub-license or transfer by you, without our
express prior and written agreement) to access and use our Online Trading Facility (the "License") in accordancewith the Terms and Conditions set forth herein. This license is conditioned on your continued compliance with
the Terms and Conditions set forth in this Agreement. Before we grant you access to or Online Trading Facility,
you will already need to be (and be accepted as) a client of ours and to have opened an Account with us. These
Terms supplement and form part of the Account Opening Application Form(s). If there is a conflict between
these Terms and the terms of the Account Opening Application Form(s), these Terms will prevail regarding our
Online Trading Facility.
We may be required by a Third Party Service Provider to require you to comply with additional restrictions on
your access and/or usage of our Online Trading Facility. You agree that you will comply with any additional
restrictions on your access and/or usages that we may communicate to you from time to time, or that areotherwise the subject of an agreement between you and such Third Party Service Providers. You acknowledge
that failure to comply with such additional restrictions may result in your access to and/or usage of all or partof our Online Trading Facility being restricted, suspended or terminated.
Our Online Trading Facility is intended only for your personal, non-commercial use only, unless we haveexpressly agreed otherwise beforehand and in writing. You agree to use the information received from our
Online Trading Facility (and/or from any other of our information systems) for the sole purpose of entering intoand executing Transactions and/or Contracts through our Online Trading Platform. Unless we expressly agree
otherwise beforehand and in writing, we are providing our Online Trading Facility only to Persons who are NonProfessional Users and only for the purpose of, and subject to these Terms and Conditions You represent andwarrant to us as of the date of acceptance of these Terms and Conditions and each time you access our Online
Trading Facility that you are a NonProfessional User. You will notify us immediately in writing if you cease to bea Non-Professional User and acknowledge that as a result of doing so we may restrict, suspend and/or
terminate your access to all or part of our Online Trading Facility, at our sole discretion, without being obliged
to provide you with any explanation or justification.
For the avoidance of doubt, you shall at all times be responsible for, and shall be bound by, any unauthorizedaccess and/or use of our Online Trading Facility, made in breach of the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

35

It is your obligation to keep your Account numbers, user names and passwords (“Access Codes”) strictly
confidential. You acknowledge and agree that any Instruction or communication transmitted via our Online
Trading Facility by you or on your behalf, or through your Account, is made entirely at your own risk. You hereby
expressly authorize us to rely and act on, and treat as fully authorized and binding upon you, any Instruction
given to us that we believe to have been given by you or on your behalf by any agent or intermediary whom
we believe in good faith to have been duly authorized by you. You acknowledge and agree that we shall beentitled to rely upon your Account number, Access Codes (user names and/or passwords) to identify you andagree you will not disclose this information to anyone not duly authorized by you.
Because all servers have limited capacity and are used by many people, you agree not to use our Online Trading
Facility in any manner that could damage or overburden any of our servers, or any network connected to anyof our servers and not to use our Online Trading Facility in any manner that would interfere with any otherparty's use of our Online Trading Facility. You further agree not to use any Electronic Messaging and/or
communication feature of our Online Trading Facility for any purpose that is unlawful, tortuous, abusive andintrusive on another's privacy, harassing, libellous, defamatory, embarrassing, obscene, threatening or hateful.
The License granted under this Agreement will terminate with immediate effect if we believe that any
information provided by you, including, without limitation, any identification evidencing nationality, residence,contact details, including without limitation your e-mail address, is no longer current or accurate, or if you failto otherwise comply with any Term of this Agreement and/or any rules and/or guidelines imposed by us, or if
we were to establish that you have abused in any way (including, but not limited to, engaging in Transactions
and/or Contracts on out of Market Rates) through our Online Trading Facility.
Upon our notification to you such violation, you agree to cease, with immediate effect, accessing and/or using
our Online Trading Facility. You agree that, under these circumstances, we shall be entitled, at our sole
discretion and with or without prior notice and without prejudice to any other remedies we may have underthe Agreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, to terminate your access to our Online Trading Facility, close any and all of your open positions
and/or remove and discard any related information or content within our Online Trading Facility.
COPYRIGHT, LICENSES AND TRADEMARKS
The entire contents of our Online Trading Facility, including but limited to all copyrights, trademarks, patents,
service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, colour
scheme and graphics, are protected by international copyright and trademark laws. Except for third party
content, the contents of our Online Trading Facility are original works of authorship published by us or by oron behalf of our Third Party Licensors. We have the exclusive rights to reproduce, display, prepare derivative
works or distribute. The names, logos, trademarks, copyrights and all other intellectual property rights in all of
the material and software on our Online Trading Facility are owned by us or by our Third Party Licensors. All
third-party owned materials contained on our Online Trading Facility are reproduced with the permission of
the respective owners.
You may not, without our prior written permission, alter, modify, copy, reproduce, republish, upload, post,transmit, distribute or commercially exploit, in any manner whatsoever, any materials, including text, graphics,
video, audio, software code, user interface design or logos, from our Online Trading Facility, except that you
may print and download portions of material from the different areas of Online Trading Facility solely for yourown, non-commercial, use, provided that you agree not to change or delete any copyright or proprietary
notices from such materials. All referenced third party logo’s trademarks and products on the site are theproperty of the respective (site) owner(s) and must not be used or distributed without permission of theowner(s). Any violation of these provisions will null and void the License granted hereunder.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

36

You agree NOT to "deep-link" to our Online Trading Facility, resell or permit access to our Online Trading Facility
to others, and not to copy any materials appearing on our Online Trading Facility for resale or for any otherpurpose to others, without our express, prior and written consent. In those instance where we may permit you
to link from another website to our Online Trading Facility, your website, as well as the link itself, may not,without our express prior and written permission, suggest that we endorse, sponsor or are affiliated with any
third-party website, entity, service or product, and you may NOT make use of any of our logo’s, trademarks orservice marks other than those contained within the text of the link.
LIMITATIONS ON INVESTMENT GUIDANCE AND PROFESSIONAL ADVICEOur Online Trading Facility is NOT intended to provide legal, tax or investment advice. Any and all informationon our Online Trading Facility is for educational purposes only and is under no circumstance intended toprovide legal, tax or investment advice and no guarantee is represented from any statements about profits orincome, whether express or implied.
You are solely responsible for determining whether any investment, investment strategy or related transaction
is appropriate for you based on your personal investment objectives, financial circumstances and risk
tolerance. You should consult your legal or tax professional regarding your specific situation.
ACCURACY OF INFORMATION
While we have made every effort to ensure the accuracy of the information posted on our Online Trading
Facility, the information and content on our Online Trading Facility is subject to change without notice and isprovided for the sole purpose of educating traders with a view to making independent investment decisions.
While we have taken reasonable measures to ensure the accuracy of the information on our Online Trading
Facility, we do not, however, guarantee its accuracy, and will not accept liability for any loss or damage that
may arise directly or indirectly from the content or your inability to access our Online Trading Facility, for any
delay in or failure of the transmission or the receipt of any instruction or notifications sent through our Online
Trading Facility.
All content on our Online Trading Facility is presented only as of the date published or indicated, and may besuperseded by subsequent market events or for other reasons. In addition, you are responsible for setting thecache settings on your browser to ensure you are receiving the most recent data.
ANALYTICAL TOOLS AND MARKET DATA
At certain times, we may provide various analytical tools (such as market data, exchange rates, news, headlinesand graphs), links to other websites, circulate newsletter and/or provide you with third parties’ information on
our Online Trading Facility, for your convenience only. By doing so, we are not endorsing, giving any
representation, warranting, guaranteeing or sponsoring the accuracy, correctness, timeliness, completeness,suitability of such information for you and/or as to the effect or consequences of such information on you.
Such information and tools are provided solely to assist you to make your own investment decisions and do
not amount to investment advice or unsolicited financial promotions to you.
You understand that we are not obligated to continue to provide the above mentioned tools and informationand that we may remove such informational tools from our Online Trading Facility at any time. Furthermore,
we are not obligated to update the information displayed on our Online Trading Facility at any time and we will
not be liable for the termination, interruption, delay or inaccuracy of any such information. The financial
information we post on our Online Trading Facility may be provided by third parties for the benefit or ourclients and as such you undertake not to enable deep linking or any other form of redistribution or reuse of
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

37the information, to any non-authorized users. As such, we urge you to read and fully understand the terms andconditions and other policies of such websites, newsletters and information before using them.
Any information or material placed on our websites by third parties (“Third Party Content”) reflects solely andexclusively the views, and are the responsibility of, those who post such information or material, and do not
represent our views and/or those of our Associates. Such information is not to be considered as constituting a
track record. Past performance is no guarantee of future results and we specifically advise clients and prospects
to carefully review all claims and representations made by other traders, advisors, bloggers, money managers
and system vendors before making an investment decision on the basis of any of the foregoing.
IN NO EVENT SHALL WE AND/OR ANY OF OUR AFFILIATES BE LIABLE, DIRECTLY OR INDIRECTLY, TO ANYONE FOR ANY DAMAGE OR
LOSS ARISING FROM OR RELATING TO ANY USE, CONTINUED USE OR RELIANCE ON ANY SUCH TOOLS, WEBSITES, NEWSLETTERS
AND/OR INFORMATION PROVIDED ON OUR ONLINE TRADING FACILITY. IN PARTICULAR, WITH RESPECT TO ANY MARKET DATA,EXCHANGE RATES, NEWS, HEADLINES AND GRAPHS AND/OR OTHER INFORMATION THAT WE AND/OR ANY THIRD PARTY SERVICEPROVIDER PROVIDES TO YOU IN CONNECTION WITH YOUR USE OF OUR ONLINE TRADING FACILITY: (I) WE ARE NOT RESPONSIBLE
OR LIABLE IF ANY SUCH DATA OR INFORMATION IS INACCURATE OR INCOMPLETE IN ANY RESPECT; (II) YOU ARE RESPONSIBLE (ANDWE SHALL NOT BE LIABLE) FOR ANY ACTIONS THAT YOU TAKE OR REFRAIN FROM TAKING AS A RESULT OF SUCH DATA OR
INFORMATION; (III) YOU WILL NOT USE SUCH DATA OR
INFORMATION FOR AN INAPPROPRIATE OR ILLEGAL PURPOSE; (IV) YOU ACKNOWLEDGE THAT ANY SUCH DATA OR INFORMATION IS
OUR PROPERTY AND/OR, AS THE CASE MAY BE, THE PROPERTY OF OUR THIRD PARTY SERVICE PROVIDERS AND YOU WILL NOTRETRANSMIT OR DISCLOSE SUCH DATA OR INFORMATION TO THIRD PARTIES EXCEPT AS REQUIRED BY RELEVANT LAW; AND (V) YOU
WILL USE SUCH DATA OR INFORMATION SOLELY IN COMPLIANCE WITH ALL RELEVANT APPLICABLE LAWS, RULES AND REGULATIONS.

Neither we, nor our officers, principals, employees, Representatives or Agents shall be liable to any Person for
any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect,
incidental or consequential damages) resulting from any errors in, omissions of or alterations to any such any
such tools, websites, newsletters and/or information. The foregoing shall apply regardless of whether a claim
arises in contract, tort, negligence, strict liability otherwise.
THIRD PARTY CONTENT AND RESEARCH
As previously indicated, our Online Trading Facility may include general news and information, commentary,interactive tools, quotes, research reports and data concerning the foreign exchange markets, other financial
markets and other subjects.
Some of this content may be supplied by Persons that are not affiliated with us ("Third Party Content"). The
source of all such Third Party Content is clearly and prominently identified on our Online Trading Facility and isreproduced with the permission of the respective owners.
Third Party Content may be available through framed areas, through hyperlinks to third party web sites, ormay simply be published on our Online Trading Facility. As indicated above, the Third Party Content is protectedby applicable intellectual property laws and international treaties and is owned by or licensed from the Third
Party Content provider(s) credited.
We do not explicitly or implicitly endorse or approve such Third Party Content. The Third Party Content
providers do not, implicitly or explicitly, endorse or approve the Third Party Content, nor should their content
be construed as legal, tax or investment advice.
While we make every attempt to provide accurate and timely information to serve the needs of our clients,
neither we, nor any of our Third Party Content providers guarantee its accuracy, timeliness, completeness or
usefulness, and neither we, nor any of our Third Party Content providers is/are responsible or liable for any
such content, including any advertising, products, or other materials on or available from third party websites.
Third Party Content is provided for informational purposes only and we, as well as its Third Party Content
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

38

providers specifically disclaim any liability for Third Party Content available on our Online Trading Facility. You
will use Third Party Content only at your own risk.
ANY THIRD PARTY CONTENT ON OUR ONLINE TRADING FACILITY IS PROVIDED ON AN "AS-IS" BASIS. OUR
THIRD PARTY CONTENT PROVIDERS EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR
IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE OR NON-INFRINGEMENT.
OUR THIRD PARTY CONTENT PROVIDERS AND THEIR PARENTS, SUBSIDIARIES, AFFILIATES, SERVICEPROVIDERS, LICENSORS, OFFICERS, DIRECTORS OR EMPLOYEES SHALL NOT BE LIABLE FOR ANY DIRECT,INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THE USE
OR THE INABILITY TO USE THE THIRD PARTY CONTENT, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSSOF PROFITS, USE, DATA OR OTHER INTANGIBLE DAMAGES, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES.
MEANS OF ACCESSING AND USING OUR ONLINE TRADING FACILITY
You shall be solely responsible for providing and maintaining the means by which to access and use our Online
Trading Facility, which may include, but hall not be limited to, a personal computer, modem and telephone orother access line.
You shall be responsible for all access and service fees necessary to connect to our Online Trading Facility andyou shall assume all charges incurred in accessing such systems. You further assume all risks associated withthe use and storage of information on your personal computer(s) or on any other computer(s) through which
you will gain access to, and/or make use of our Online Trading Facility (hereinafter referred to as "computer"or "your computer").
You represent and warrant that you have implemented and plan to operate and maintain appropriate
protection in relation to the security and control of all access and use of your computer, infection or viruses,
worms, Trojan horses or other code that manifest contaminating or destructive properties and/or other similarharmful or inappropriate materials, devices, information or data.
You agree that we shall not be liable, in any manner whatsoever, to you in the event of failure of or damage ordestruction to your computer systems, data or records or any part thereof, or for delays, losses, errors oromissions resulting from the failure or mismanagement of any telecommunications or computer equipment
or software.
You will not transmit to, or in any way, whether directly or indirectly, expose us or any of our online service
providers to any infection or viruses, worms, Trojan horses or other code that manifest contaminating or
destructive properties and/or other similar harmful or inappropriate materials, devices, information or data.
You agree to be fully and personally liable for the due settlement of every Transaction and/or Contract enteredinto through your Account with us. You are responsible for ensuring that, unless we otherwise agree
beforehand and in writing, you, and only you, shall control access to your Account, and that no Minor or other
Person is granted access to trading on our Online Trading Facility using your Account. In any event, you, andonly you, shall remain fully liable for any and all positions traded in your Account, and for any credit cardtransactions entered into for your Account. You agree to indemnify us fully in respect to all costs and losses
whatsoever, as may be incurred by us and/or by you as a result, direct or indirect, of your failure to perform or
settle such a transaction.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

39

You agree that in the case that any Transaction is entered into, and/or any Contract is acquired or sold at pricesthat do not reflect relevant Market Prices, or that is acquired or sold at an abnormally low level of risk("mispricing") due to an undetected programming error, bug, defect, error or glitch in our Online Trading
Facility and/or any related software, or for any other reason, resulting in mispricing (for the purpose of thisSection, the "error"), we reserve the right to cancel such Transactions and/or Contracts upon notifying youof the nature of the computer error that led to the mispricing. You have a duty to report to us any problem,
error or suspected system or other inadequacies that you may experience.
Without prejudice to any other provisions of the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, should quoting and/or execution errors occur, which
may include, but are not limited to, a quote or trade which is not representative of the then prevailing Market
Prices, an erroneous Price Quote from us or any third party, such as but not limited to an erroneous Price
Quote due to failure of hardware, software or communication lines or systems and/or inaccurate external data
feeds provided by third-party vendors, we will not be liable for the resulting errors in your Account balances.
In the event of a quoting or execution error, we reserve the right to make the necessary corrections or
adjustments on the Account involved. Any dispute arising from such quoting or execution errors will be
resolved by us in our sole and absolute discretion. No correspondence will be entered into.
RESTRICTION OF ACCESS AND USE OF OUR ONLINE TRADING FACILITY
We reserve the right to suspend the operation of our Online Trading Facility, or any part(s) or sections thereof,at any time. In such an event, we may, at our sole discretion (with or without notice), close out your open
positions, Transactions and/or Contracts at prices we consider fair and reasonable at such a time, and no claims
may be entertained against us in connection thereto.
We may, at our sole discretion, impose volume or other limits on any all Accounts.
Contract pay-outs shall be determined by us by reference to the daily values reported on our Online Trading
Facility, relevant to the interbank trading data received by us for Transaction and/or Contract quotes, subject
to the proviso that we shall be entitled to make corrections to such data in the event of mispriced or
typographically incorrect data.
You understand that while the Internet and the World Wide Web are generally reliable, technical problems orother conditions may delay or prevent you from accessing and/or using our Online Trading Facility.
TECHNICAL ISSUES
We shall not be liable, and you agree not to hold or seek to hold us or any of our Agents or Third Party Service
Providers, liable for any technical problems, system failures and malfunctions, communication line failures,
equipment or software failures or malfunctions, system access issues, system capacity issues, high Internet
traffic demand, security breaches and unauthorized access, and other similar computer problems and defects.
We do not represent, warrant or guarantee that you will be able to access and/or use our Online Trading Facility
at all times or locations of your choosing, or that we will have adequate capacity for our Online Trading Facility
as a whole or in any geographic location.
We do not represent, warrant or guarantee that our Online Trading Facility will provide uninterrupted anderror-free service. We do not make any warranties or guarantees with respect to our Online Trading Facility
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

40and the content thereof, including, but not limited to, warranties for merchantability or fitness for a particularpurpose.

Without prejudice to any of the forgoing, we shall not be responsible for an impossibility to execute Orders
and requirements due to failures in the operation of informational systems caused by technical faults, which
are beyond our control.
INFECTIONS, CONTAMINATIONS OR OTHER OR DESTRUCTIVE CONTENT
You understand that we cannot and do not guarantee or warrant that files and/or Software available fordownloading through our Online Trading Facility will be free of infection or viruses, worms, Trojan horses orother code that manifest contaminating or destructive properties. You are responsible for implementing
sufficient procedures and checkpoints to satisfy your particular requirements for accuracy of data input andoutput, and for maintaining a means external to our Online Trading Facility for the reconstruction of any lostdata.
HYPERLINKS TO OTHER SITES CONTROLLED OR OFFERED BY THIRD PARTIES
We may provide links to other third party websites that are controlled or offered by third parties. Such links toanother third party website or websites is NOT an endorsement, authorization, sponsorship or affiliation withrespect to such third party website, its owners or its providers.
We caution you to ensure that you understand the risks involved in accessing and/or using such third party
websites before retrieving, using, relying upon or purchasing anything via the Interne We make NO
representations whatsoever about any other third party website, which you may access through our Online
Trading Facility or which may link to our Online Trading Facility. When you access any other third party website,please understand that it is independent from our Online Trading Facility and that we have no control over thecontent on such third party website(s). In addition, a link from a third party website to our Online Trading
Facility does not mean that we endorse or accept any responsibility for the content, or the use, of such third
party website.
Links from our Online Trading Facility to any other third party websites are provided solely for yourconvenience, and you agree that you will under no circumstances hold us liable for any damages or losses
caused by use of or reliance on any content, goods or services available on other third party websites.
SOFTWARE
Our Online Trading Facility may contain software that is provided for downloading (hereinafter referred to as“Software”). You acknowledge and agree that we make no warranty whatsoever that any Software
downloaded onto your computer equipment from or through our Online Trading Facility or elsewhere will becompatible with, or operate without interruption on, your computer equipment, nor do we warrant that any
such Software is, or will be, uninterrupted, error free or available at all times. Our Online Trading Facility is not
associated with the Software it may provide for download and we cannot be held liable for issues or faults thatarise from the download or use of any such Software.
You further understand and agree that your download and/or use of any Software may expose you to risks
associated with the download and/or use of software that may not be compatible with your computerequipment. You hereby agree to accept such risks, including, but not limited to, failure of or damage to,hardware, software, communication lines or systems, and/or other computer equipment. We expressly
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

41

disclaim any liability with respect to the foregoing, and you hereby agree to fully indemnify, defend and holdus harmless from any and all damages, liabilities, losses, costs and expenses that may arise therefrom.

Each Software application downloaded from or through our Online Trading Facility includes a specific personal
license to use such Software in accordance with the Terms and Conditions set forth herein. Any Software
downloaded from or through our Online Trading Facility is subject to the Terms of the specific software license
accompanying such download, in addition to these Terms and Conditions.
Any Software downloaded from or through our Online Trading Facility is intended only for your personal, noncommercial use only, unless we have expressly agreed otherwise beforehand and in writing. You agree to use
any such Software downloaded from or through our Online Trading Facility for the sole purpose of entering
into and executing Transactions and/or Contracts through our Online Trading Facility. Using any such Software
to distribute signals, copy trades, share the Software or signals with third parties or use the Software on MAM
accounts (or in connection with any other portfolio management structure) is NOT allowed under thisagreement, without our express and prior written consent, and may lead to immediate termination of theLicense granted under this Agreement and/or the specific personal license to download and/or use such
Software.
For the avoidance of doubt, you shall be responsible for, and shall be bound by any unauthorized access and/or
use of any Software downloaded from or through our Online Trading Facility, made in breach of the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions, and/or
the specific personal license to use such Software. In the event that you receive any data, information or
Software via our Online Trading Facility other than that which you are entitled to receive pursuant to theseTerms, you will immediately notify us and will not use, in any way whatsoever, such data, information or
Software.
We reserve all rights to modify the terms and conditions of access and use, and/or to discontinue all or part ofour services for all Software and/or products and/or files downloaded from or through our Online Trading
Facility, at any time, at our sole discretion and for any reason, without being obliged to provide you with any
explanation or justification.
FORWARD LOOKING EARNINGS STATEMENTS
EVERY EFFORT HAS BEEN MADE TO ACCURATELY REPRESENT OUR SERVICES AND THEIR POTENTIAL ON OUR
ONLINE TRADING FACILITY. ALTHOUGH THE ‘FOREX’ INDUSTRY IS ONE OF THE FEW THAT HAS A GREATPOTENTIAL IN TERMS OF EARNINGS, THERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY OR
INCOME AT ALL USING THE TECHNIQUES AND IDEAS IN OR THROUGH THE MATERIALS OR PRODUCTSPROVIDED ON OR THROUGH OUR ONLINE TRADING FACILITY. DO NOT INTERPRET EXAMPLES IN THESE
MATERIAL AS A PROMISE OR GUARANTEE OF EARNINGS. SUCH EARNING POTENTIAL IS AT ALL TIMESENTIRELY DEPENDENT ON THE PERSON USING ANY OF OUR SERVICES, PRODUCTS, IDEAS AND TECHNIQUES.
OUR SERVICES ARE NOT TO BE CONSTRUED AS A “GET RICH SCHEME.”
ANY CLAIMS MADE CAN BE VERIFIED UPON REQUEST. THIS IS IN RESPECT OF ACTUAL EARNINGS OR
EXAMPLES OF ACTUAL RESULTS. YOUR LEVEL OF SUCCESS IN ATTAINING THE RESULTS THAT MAY BE
CLAIMED IN OUR MATERIALS DEPENDS ON MANY FACTORS, INCLUDING, BUT NOT LIMITED TO THE TIMEYOU DEVOTE TO THE SERVICES, PROGRAMS, IDEAS AND TECHNIQUES MENTIONED, AS WELL AS YOURFINANCIAL SITUATION, KNOWLEDGE AND EXPERIENCE AND VARIOUS SKILLS. ALL THESE DIFFER ACCORDINGTO INDIVIDUALS, AND SO WE CAN NOT, NOR DO WE, GUARANTEE YOUR SUCCESS OR INCOME LEVEL. WE
ARE NOT RESPONSIBLE FOR ANY OF YOUR ACTIONS.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

42

IT IS POSSIBLE THAT SOME OF THE MATERIALS OR PRODUCTS PROVIDED ON OR THROUGH OUR ONLINETRADING FACILITY MAY CONTAIN INFORMATION THAT INCLUDES, OR IS BASED UPON, FORWARD-LOOKINGEARNINGS STATEMENTS. SUCH FORWARD-LOOKING EARNINGS STATEMENTS GIVE OUR EXPECTATIONS ORFORECASTS OF FUTURE EVENTS. THESE STATEMENTS CAN BE IDENTIFIED BY THE FACT THAT THEY DO NOTRELATE DIRECTLY OR STRICTLY TO EITHER HISTORICAL OR CURRENT FACTS. SUCH STATEMENTS MAY USEWORDS SUCH AS “ANTICIPATE,” "BELIEVE,” “ESTIMATE,” “EXPECT,” “INTEND,” “PROJECT,” “PLAN,” AND
OTHER WORDS AND TERMS OF SIMILAR MEANING IN CONNECTION WITH A DESCRIPTION OF POTENTIALEARNINGS OR FINANCIAL PERFORMANCE. SHOULD SUCH STATEMENTS BE USED BY US ON OUR ONLINETRADING FACILITY OR IN ANY OF OUR SALES MATERIAL, THEY ARE SOLELY INTENDED TO EXPRESS OUROPINION OF EARNINGS POTENTIAL. MANY FACTORS WILL BE IMPORTANT IN DETERMINING YOUR ACTUALRESULTS AND SO PLEASE NOTE THAT NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE RESULTS SIMILAR
TO THE ONES MENTIONED ON OUR ONLINE TRADING FACILITY OR IN ANY OF OUR SALES MATERIAL, OR TO
ANYONE ELSE. IN FACT, NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE ANY RESULTS FROM ANY
IDEAS, TECHNIQUES OR SOFTWARE PROVIDED ON OUR ONLINE TRADING FACILITY OR IN ANY OF OUR SALES
MATERIAL OR AS MAY APPEAR ANYWHERE ON OUR ONLINE TRADING FACILITY.

CHAPTER D: SERVICES
In consideration of us agreeing to carry one or more Accounts for you and providing Services to you in
connection with the purchase and sale of Supported Financial Instruments, which may be purchased or soldby or through our Online Trading Facility, or otherwise, for your Account, you hereby agree as follows:
SCOPE OF SERVICES
These Terms and Conditions cover the entire scope of Services provided by us including, but not limited to, theaccess and use of our Online Trading Facility, data collection and storage practices, downloadable material fromour Online Trading Facility, financial information published on our Online Trading Facility (either by us or by any
affiliated party), electronic content, real time information about the exchange rate of some currencies, tools
for executing transactions in the foreign exchange market through the internet, by phone or fax and any otherfeatures, content or services that we may add in the future. These Terms and Conditions cover any form ofcommunication between us and you including Electronic Messaging, e-mail, telephone, fax and more.
REGISTRATION
We are obligated by law to confirm and verify the identity of each Person who registers on our system andopens an Account with us. Therefore, at any given time, starting from the date of your registration with us, we
may ask you to provide personally identifiable information. We reserve the right to limit, block access to our
Online Trading Facility and/or terminate and/or close your Account with us, if such information is not provided
and/or if any such information provided to us appears to be untrue, inaccurate, incomplete and/or incorrect.
If you choose to provide us with such information and register with us as our client, you are confirming to us
that any information provided to us is true, accurate, updated and complete information about yourself.
Additionally, you agree that you will not impersonate any Person or entity, misrepresent any affiliation withanother Person, entity or association, use false headers or otherwise conceal your identity from us for any
purpose or reason.
If you are registering as or for a business entity, you hereby declare that you have the authority to bind that
entity to these Terms and Conditions. We apply strict security procedures and undertake to treat the
information that you provide us with care in accordance with our Privacy Policy.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

43

Please note that when you register with us, you will choose a username and password that will personallyidentify you each time you log on to our system (“Access Codes”). Your Access Codes (username and password)
should be kept strictly private and confidential at all times. It is your sole and exclusive responsibility tosafeguard this information and you are responsible for all actions made using your Account User Information.
You agree: (a) to notify us immediately of any unauthorized use of your Access Codes or of any other violationof security and (b) at the end of each use, to log out from your Account in an orderly way. If the security ofyour Access Codes (username and password) is breached or if you suspect that they are being wrongfully used
– please contact our Customer Support team immediately, as follows: Customer Support Working hours: 24/5
E-mail: support@ttcm.com Please include your name, Account number, mailing address, e-mail address andtelephone number.
ELIGIBILITY
As previously indicated, it is a pre-condition that our Services are only used and contracts are only formed bythose who are permitted to enter legally binding agreements. THEREFORE, IF THERE IS ANY REASON WHY
YOU WOULD NOT BE ABLE TO ENTER A LEGALLY BINDING AGREEMENT WITH US, FOR WHATEVER REASON DO NOT USE OUR SERVICES. Such reasons could include, but are not limited to Persons that have not yet
reached the age of 18 or are defined as Minors that have not yet reached legal age.
Due to our internal policies, we only permit people with sufficient experience, knowledge and understanding
in financial investments, who possess the personal ability of identifying good investments and distinguishingbad investments, and who fully understand the risks associated with financial investments, independently fromany information that they may have read on our Online Trading Facility, to use our Services. IF YOU DO NOTPOSSESS SUCH KNOWLEDGE INDEPENDENTLY, DO NOT USE OUR ONLINE TRADING FACILITY.
In the latter instances, certain information on clients to be obtained and formally assessed in order to ensure
such suitability and appropriateness; to satisfy this requirement, we have designed tests (“Suitability Test andTest of Appropriateness¨), which we will apply to clients before providing investment services, depending on:
the client categorization/classification assigned in accordance with the principles set out hereinafter;
the nature of the investment service in question;
the type of financial instrument involved in providing the service;
Information thus obtained will be used exclusively for the assessment referred to hereinabove.
Notwithstanding any of the above, the above mentioned eligibility restrictions shall only apply in cases where
our Services involve the use of real money. The above restrictions shall NOT apply to use of any practiceapplication not associated with real money transactions (such as “Demo Accounts”).
IDENTIFICATION
We are obligated by law to confirm and verify the identity of each Person who registers on our system andopens an Account with us; therefore, as part of our obligations to comply with applicable “AntiMoney
Laundering (“AML”) & Know Your Customer (“KYC”) Legislation”, you will be prompted to provide us with thefollowing information when you register with us: (a) name; (b) address/ residency; (c) date of birth; (d)nationality; (e) contact information; (e) payment instructions; and any other personally identifiable informationthat we may ask for from time to time, such as a copy of your Passport and/or other identifying documents.
Proof of address of the document that a potential client will send to the company in order to open a tradeaccount should be up to 6 months old.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

44

Upon the death of an Account owner and if the legal heirs of such account owner would like to withdraw theremaining balance in the Account, to the extent there is any, such legal heirs should present to us with official
legal documents from the applicable governmental authorities in the jurisdiction of the deceased to oursatisfaction, and we, in our sole discretion and upon checking such documents, shall make the decision
whether to allow such withdrawal(s).
PERSONAL INFORMATION – ACCURATE AND COMPLETE DATA
You must provide us with true and complete information to us at all times; including but not limited to, your(a) name; (b) address/ residency; (c) date of birth; (d) nationality; (e) contact information; (e) payment
instructions; and any other personally identifiable information that we may ask for from time to time, such asa copy of your Passport and/or other identifying documents, that we may request from you from time to time
as part of our obligations to comply with applicable “Anti-Money Laundering (“AML”) & Know Your Customer(“KYC”) Legislation”.
In that connection, you hereby represent, warrant, covenant and agree that: (a) you are at least 18 years old,or the age of legal consent for engaging in financial investment activities under the laws of any jurisdiction thatapplies to you; (b) you are not a politically exposed person and you do not have any relationship (e.g., relative,
associate etc.) with a Person who holds or held during the last twelve (12) months any public position; (c) you
are of sound mind and you are capable of taking responsibility for your own actions; (d) all the details that you
have submitted to us or any details given to us when opening an account and making a deposit are true,
accurate, complete and match the name on the payment card and/or payment accounts in which you intend
to deposit or receive monies from your account; (e) you have verified and determined that your use of ourOnline Trading Facility does not violate any laws or regulations of any jurisdiction that applies to you.
If any of the above statements is untrue or inaccurate with respect to you, please inform our Customer Support
team immediately, as follows (please include your name, Account number, mailing address, e-mail address andtelephone number):Customer Support Working hours: 24/5, E-mail: support@ttcm.com and we shall inform you if/how you may
continue to access and/or use our Services.
You hereby expressly acknowledge and agree that the penalty for providing untrue, inaccurate, misleading orotherwise incomplete information is your immediate breach of these Terms and Conditions. As such, we
reserve the right to suspend and/or terminate your Account promptly and to suspend and/or prevent you fromaccessing and/or using our Online Trading Facility, without prejudice to any other rights and/or remedies wemay have under and/or pursuant to this Agreement.
From time to time you may be requested to provide us with certain documents to verify the details of thecredit card used by you to deposit monies to your account. Subject to our satisfaction from such documentation
checks, you may or may not be permitted to deposit further monies by recurring credit card or other means of
payment. We may elect to provide you with documentation, information and communications in various
languages. By accepting these Terms and Conditions you acknowledge and confirm that our official language
is the English language, and in the event of any discrepancy or inconsistency between any documentation,
information and communications in any language other than the English language and the same in the English
language, the English documentation, information and communications shall prevail.
We reserve the right to communicate with you by telephone, facsimile, e-mail, posts, newsletters issued by us
and/or any other means of communication, whether such communication is personally addressed to you or
generally addressed to all our clients and/or posted on our Online Trading Facility. By accepting these Terms
and Conditions, you acknowledge and confirm, without prejudice to any other Terms of the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, that all suchmeans of communications on our end are deemed to be acceptable and that any information or notification
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

45

so provided shall be deemed to have been received by you and/or any transaction so executed shall be deemed
final and binding on your part.
You shall inform us in writing of the Persons you have granted a Power-of-Attorney to instruct us on your behalf.
For practical reasons, we can only undertake to register one Power-of-Attorney for you. If you at any time wish
to revoke such a Power-of-Attorney, to change the extent of such a Power-of Attorney, or grant Power-ofAttorney to a different Person this shall also be informed to us in writing. We are, in accordance with generalrules regarding Powers-of-Attorneys entitled to receive instructions from any Person authorized by you as well
as Persons who appear so authorized. We do reserve the right, however, at our sole discretion, to reject theappointment of any representative/Power-of-Attorney authorized to act in your Account and we may elect, at
our sole discretion, to dismiss and/or reject at any time any transactions performed by such Authorized
Representative/power of attorney. Pursuant to general rules regarding Powers-of-Attorney, you areaccountable to us for losses or damages which we may suffer as a result of instructions from an Authorized
Person who has explicit or tacit Power-of-attorney to give us Instructions on your behalf. We may refuse to act
upon any Instruction from any Authorized Person if we can render probable that the disposal pursuant to the
instruction submitted would be in violation of the legislation relevant to the area, usual market practice,including but not limited to applicable “Anti-Money Laundering (“AML”) & Know Your Customer (“KYC”)
Legislation”, or pertain to insider trading, or if the disposal by our reasonable discretion will put you and/or
our economic solidity at risk.
By opening an Account with us, you will be subject to, and you hereby expressly agree to abide by, all of ourrules, policies and operating procedures that govern your activities on our Online Trading Facility. We reserve
the right to refuse and/or decline our Services to any Person and to close the Account of any Person, at any
time, at our sole discretion, and for any reason, without being obliged to provide any explanation or
justification. All data relating to Persons who open an Account with us will remain our sole and exclusive
property and by entering into this Agreement you acquire NO right to any such information, except as expressly
stated herein.
We further reserve the right to investigate, at any time, at our sole discretion, and for any reason, without
being obliged to provide you with any explanation or justification, any activity that may violate the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions,
including, but not limited to, any use of software applications to access our Online Trading Facility, and/or any
engagement in any activity prohibited by this Agreement. We shall NOT be responsible (a) for anything related
to trading activities on or through our Online Trading Facility, nor (b) for the manner in which you conduct yourtrading activity on or through our Online Trading Facility; in particular, but without limitation of the generalityof the foregoing, we shall NOT be responsible for any of the following situations: (a) unauthorized real moneytransactions; (b) unauthorized real money transactions conducted by unauthorized Minors; (c) physicalverification that you possess the proper knowledge and/or experience to use our Online Trading Facility. We
will not be responsible in any way (including for damages and losses caused by the use of our Online Trading
Facility) if you use our Online Trading Facility without the proper knowledge, and we reserve the right to asses
and reassess your knowledge and experience to use our Online Trading Facility at any time, at our sole
discretion.
PERSONAL DATA PROTECTION - PRIVACY
We respect each individual's right to privacy, we value our relationship with you, and we take pride inmaintaining loyalty and respect with each individual client by providing you with security. The provisions of
this notice apply to former clients as well as our current clients and explain the manner in which we collectand maintain non-public information about our clients (such as your full name, mailing address, identification
number, passports, etc..., henceforth "Information").

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

46

We collect Information from you when you: (a) open an Account and provide us with Information throughelectronic registration forms; (b) make a transaction with us including when you deposit and withdraw funds;(c) additionally, from time to time, we may collect Information about you from third party entities such as
information about your credit history agencies. By providing us with Information, you are giving us yourconsent to collect, use and store the Information in the manner explained hereinafter.
The Information we collect directly from you includes the following: (a) Personal Information: when you apply
for or maintain a live account with us, we collect personal information about you for business purposes, suchas evaluating your financial needs, processing your requests and transactions, informing you about products
and services that may be of interest to you, and providing customer service; such information may include: (i)Application Information: Information you provide to us on applications and other forms, such as your name,address, birth date, social security number, occupation, assets, and income, as well as Information required tocommunicate with you such as your address, phone number, e-mail; (ii) Transaction Information: Information
about your transactions with us and with our Affiliates as well as information about our communications withyou (examples include your account balances, trading activity, your inquiries and our responses); (iii)
Verification Information: Information necessary to verify your identity such as a passport (Examples also
include background information we receive about you from public records or from other entities not affiliatedwith us); furthermore, we may collect other identifiable Information such as identification numbers and/or
Passport/Tax registration numbers; we may also collect demographic information when you open an account,
including Your gender, birth date, etc…; we may also need to evaluate your trading experience, average annual
income, estimated net worth and make an assessment about your risk factor.
You directly provide us with most of the Information we collect. You do this by filling out the electronic form(s)(including, without limitation, the Account Opening Application Form(s)) that we post on our Online Trading
Facility and by voluntarily providing us with other required documents. Additionally, you provide us with
Information by trading on our systems, by contacting us or by responding to a promotion; the information we
indirectly collect may include logging your Internet Protocol (IP) address, software configuration, operating
system and use of Cookies; Cookies are small files containing information that a Website uses to track its visitors
which may be sent from us to your computer and sometimes back. Cookies ultimately help us improve yournavigation and ease of use of our Online Trading Facility. We may set and access Cookies on your computer,enabling us to learn which advertisements and promotions bring users to our Online Trading Facility. We may
use cookies in connection with any of our Products and/or Services and to track your activities on our Online
Trading Facility. Cookies do not contain any personally identifiable information. Such information that wecollect and share would be anonymous and not personally identifiable.
We use the Information we collect from you only as appropriate to provide you with quality service andsecurity. For example, we may use the Information collected from you to verify your identity. We may also use
this Information to establish and set up your trading Account, issue an Account number, issue Access Codes(username and/or password), log your activity and contact you from time to time. The Information you provide
us helps us to improve our Services to you, customize your browsing experience and inform you about
additional products, services or promotions that may be of interest to you. Should you ever deactivate yourAccount with us, we will keep your information on file, but only use it to comply with regulatory requirements
and to contact you occasionally with the option to reactivate your account. Please note that you may opt outof our Information sharing policies at any time by notifying us of your desire to do so as explained below.
We do not disclose or share Information about any of our clients (whether active or inactive) to any nonaffiliated third parties other than in the manner and to the entities set forth below:
Sharing Information with our Associates: We may share personal information described above with our
Associates for business purposes, such as, but not limited to, servicing client’s Accounts and informing client’s
about new products and services, or to aid in the trading activity of our company, its Affiliates, or employees,
and as permitted by applicable law. Our Associates may include companies controlled or owned by us as well
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

47

as companies that have an ownership interest in our company. The information we share with our Associates
may include any of the information described above, such as your name, address, trading experience andaccount information. Our Associates are committed to maintaining the privacy of your information to the same
extent we do in accordance with the provisions set forth herein.
Sharing Information with Third Parties: We do not disclose your personal information to third parties, except
as described herein. Third party disclosures made by us in accordance herewith may include sharing suchinformation with non-affiliated companies that perform support services for your Account or facilitate yourTransactions and/or Contracts with us, including those that provide professional, legal, or accounting advice tous or that are acting on behalf of us to investigate your credit standing. Non-affiliated companies that assist us
in providing services to you are required to maintain the confidentiality of such information to the extent theyreceive it and to use your personal information only in the course of providing such services and only for the
purposes that we dictate. We may also disclose your personal information to third parties to fulfil yourinstructions or pursuant to your express consent. We want you to know that we will not sell your personal
information
Regulatory Disclosure: Under limited circumstances, we may disclose your personal information to third
parties as permitted by, or required to comply with, Applicable Laws, Rules and/or Regulations in thejurisdiction of which you are a citizen or a permanent resident, or, in the case of a Legal Entity is formed,
incorporated, domiciliation and/or doing business, and/or of the jurisdiction in which we are organized and/or
is performing the Services provided hereunder. For example, we may disclose personal information tocooperate with regulatory authorities and law enforcement agencies to comply with subpoenas or otherofficial requests, and as necessary to protect our rights or property. Except as described herein, we will not use
your personal information for any other purpose, unless we describe how such information will be used at thetime you disclose it to us or we obtain your permission.
Our Social Trading Platform: We may provide you with the possibility to participate in a realtime social trading
platform, which integrates rich community and social characteristics into our Online Trading Facility. Clients
who choose to be part of this community/network are required to agree to be part of the network and share
their strategies and performance with other clients who choose to be part of the community/network.
Accordingly, if you choose to be part of this community/network, you agree and acknowledge that yourusername, your picture/avatar (if provided), your state of residency, gender, networks, list of users who follow
you, users who copy you etc…, list of users you follow or copy, and any network status/posts/blogs and anyother content options that enable our clients to interact amongst themselves on such social trading platform,
including, without limitation, all content and Information you may be posting thereon, as well as any
comments, feedback, postings and/or all Information that you provide to us via our Online Trading Facility
and/or via Electronic Messaging, e-mail, fax or telephone in relation thereto, shall be considered nonconfidential and non-proprietary information (other than your Personal Data and Information, as describedhereinabove, collectively, the “Content”). All portfolio and trading information performance results shall beconsidered non-confidential and non-proprietary information and as our property. By providing such Content,
you specifically grant us a non-exclusive, irrevocable, transferable, sub-licensable, royalty-free, worldwide
license to use, copy, duplicate store, present and/or publish all or any part of your Content, and we shall befree to use such Content in any manner or media whatsoever, on an unrestricted basis and without any
attribution or royalties or other compensation to you. Any personal Information of clients who participate inthis community/network and the amount(s) traded shall, however, never be disclosed. You can always opt-in
and/or opt-out of this community/network, very simply, at your discretion. We do not share credit information,such as credit history, net worth, or other income information, except as otherwise provided herein.
Your telephone conversations, e-mails, internet conversations (chat), meetings and other communications withus may be recorded/maintained by us. Any recordings shall be and shall remain our sole property and will be
accepted by you as conclusive evidence of their content as recorded by us. You agree that we may delivercopies of transcripts of such recordings to any court, regulatory or government authority, including without
limitation, in disputes which may arise between you and us. However, technical reasons may prevent us from
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

48

recording a conversation, and recordings or transcripts made by us will be destroyed in accordance with ournormal practice. Consequently, you should not rely on such recordings to be available.
We protect your Information by using data security technology and using tools such as firewalls and dataencryption. We use Secure Socket Layer ('SSL') encryption technology in order to protect certain Informationthat you submit. This type of technology protects you from having your Information intercepted by anyone
other than us while it is being transmitted to us. We work hard to ensure that our Online Trading Facility issecure and that they meet industry standards. We also use other safeguards such as firewalls, authentication
systems (e.g., passwords and personal identification numbers) and access control mechanisms to control
unauthorized access to systems and data. We also require that you use your personal Access Codes (personal
username and password) every time you access your account online. We restrict access to Information at our
offices so that only officers and/or employees who need to know such Information have access to it.
By entering into these Terms and Conditions, you are consenting to the transmittal of your Personal Data (i.e.
your personally identifiable Information and your payment details) to our subsidiaries and/or Affiliates andAssociates, and to external companies to help us to process and/or analyse it as part of the provision of ourServices to you. Such Personal Data may also be used for marketing purposes, or to conduct market researchfor us or other companies in our group that may use such Personal Data to bring to your attention products
and/or services that may be of interest to you and also to assist in the efficient provision of our Services.
Please note that we reserve the right to amend, revise, modify, and/or change our Privacy Polic(y)ies at any
time. Should we decide to make any changes to our Privacy Polic(y)ies, such changes shall be incorporated into
our revised Privacy Polic(y)ies which shall be posted on our Online Trading Facility.
Should you have any questions regarding our Privacy Polic(y), please contact our Customer Support
team immediately, as follows:
Customer Support
Working hours: 24/5
E-mail: support@ttcm.com
Please include your name, Account number, mailing address, e-mail address and telephone number.

CHAPTER E: TERMS OF SERVICESERVICES PROVIDED
Subject to the above registration and eligibility requirements, we hereby grant you a personal, revocable, nonexclusive, non-transferable and non-sub-licensable license (a "License") that is limited to the provisions ofthese Terms and Conditions, to access and use our Services (including the use of our Online Trading Facility
and any associated downloadable Software), all as described in further detail hereinafter.
As part of our Services, we will use reasonable commercial efforts to supply you with the informational andtechnical means to access and use our Online Trading Facility, and provide you with market access and trade
execution services (“Transactions”) in Supported Financial Instruments on a ’rolling spot’ or ‘swap’ basis, in atwenty-four-hour mode of operation, from 00.00.01 A.M. Bermuda Time (GMT -4) on Mondays, through00.00.00 P.M. Bermuda Time (GMT -4) on Fridays, except on official public holidays in the USA and Europe(“Dealing Hours”), subject to the relevant markets being open.
INVESTMENTS AND INSTRUMENTS
Subject to you fulfilling your obligations under the Agreement, you may enter into Transactions and/or
Contracts via our online Trading Facility in the following investments and instruments:
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

49

CFDs on currencies (“Spot Forex”), equities, precious metals, financial indices, future contracts and any othertrading tools;
Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities,
currencies, interest rates or yields, or other derivative instruments, financial indices or financial measures
which may be settled physically or in cash;
Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities
that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than byreason of a default or other termination event);
Options, futures, swaps, and other derivative contract relating to commodities that can be physically settled
provided that they are traded on a regulated market and/or Multilateral Trading Facility (or MTF);
Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can bephysically settled not otherwise mentioned in point d. above and not being for commercial purposes, whichhave the characteristics of other derivative financial instruments, having regard to whether, inter alia, they arecleared and settled through recognized clearing houses or are subject to regular Margin calls;
Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic
variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be
settled in cash or may be settled in cash at the option of one of the parties (otherwise that by reason of a
default or other termination event), as well as any other derivative contracts relating to assess, rights,
obligations, indices and measures not otherwise mentioned in this Section, which have the characteristics ofother derivative financial instruments, having regard to whether, inter alia, they are cleared and settled throughrecognized clearing houses or are subject to regular Margin calls;
such other investments instruments that may be offered for trading on or through our Online Trading Facility;
in each of the above instances, as set forth, described and defined on our Online Trading Facility and/or
Website(s).
The investments and instruments provided by us may be:
Margined Transactions; orTransactions in instruments which are: traded on recognized or designated investment exchanges; traded on
exchanges which are not recognized or designated investment exchanges; not traded on any stock orinvestment exchange; and/or not immediately and readily realizable.

We may, at any time, cease to offer any Services and/or remove products from its then prevailing offering. If
you have an Open Position under a Service that is being terminated or in a product that is being removed, we
will provide you with reasonable notice in writing, where possible, that we intend to terminate a Service orremove a product.
We aim to provide you with at least ten (10) Business Days’ notice in which to close any Open Position that you
may hold on such affected product or Service. However, where in our reasonable opinion it is necessary or fairto do so, we reserve the right to provide a shorter notice period or no notice at all. Where notice is given, you
should cancel any Orders and/or close any Open Positions in respect of such affected product or Service before
the time specified in our notice. If you do not do this, we reserve the right to cancel any Orders and close any
Open Positions in respect of the affected Service or product at the time and in the manner specified in thenotice.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

50

Dealings with you will be carried out by us on an execution-only basis, unless agreed otherwise by us, in writing,as being on an advisory basis (either discretionary or non-discretionary).
Where we are dealing with you on an ‘execution-only basis’, we will not make personal recommendations oradvise on the merits of purchasing, selling, or otherwise dealing in particular investments or executing
particular Transactions, their taxation consequences or the composition of any account or any other rights or
obligations attaching to such investments or Transactions. You should bear in mind that any explanation
provided by us as to the terms of a Transaction or its performance characteristics does not itself amount toadvice on the merits of the investment.
Where we are providing general trading recommendations, independent research, market commentary,
guidance on shareholding disclosure or other information to clients who receive an execution-only service:this is incidental to our relationship with the client and is provided solely to enable the Client to makeindependent investment decisions; the client acknowledges that where such information is general and not
specifically targeted at the client, the information does not amount to a personal recommendation or advice;
we give no representation, warranty or guarantee as to the accuracy or completeness of such information or
as to the legal, tax or accountancy consequences of any Transaction; and where information is in the form of adocument (electronic or otherwise) containing a restriction on the person or category of persons for whomthat document is intended or to whom it is to be distributed to, the client agrees that it will not pass suchinformation contrary to such restriction.
Where we have agreed in writing that dealings between us and the client are on a ‘non-discretionary advisory
basis’: we may advise the client on Transactions and investments within the range on products notified to theclient by us; we are not obliged to provide advice on a one-time or continuing basis;
following our advice, the client may (but will not be obliged to) instruct us to enter any kind of Transaction or
arrangement for the client;all decisions on whether to invest in, hold or dispose of any asset or to enter into any Transaction belong to
the client;
we will only enter into Transactions as the client instructs;
we will have no on-going obligation to advise the client on or monitor any Transaction or portfolio ofinvestments held with us; andwe shall not be responsible for the profitability of any advice, information or recommendations.
We may from time to time offer Discretionary Investment Management Services in certain products; where weagree to provide the client with such Discretionary Investment Management Services in writing, the following
provisions will apply in respect of that investment service:
we will undertake an assessment of the client’s personal and financial circumstances and will agree theinvestment strategy, a component of which will be the investment objective; we will manage the monies
allocated to the investment strategy with a view to achieving the investment objective, subject to any
restrictions in the investment strategy or which otherwise apply to the provision of the our services under the
Agreement; to allow us to do so, the client grants us full authority, at our sole discretion and without reference
to the client, to enter any kind of Transaction or arrangement for the client in the agreed product; andalthough we will use reasonable endeavours to achieve the client’s investment objective(s), we will not be
responsible if the investment objective is not achieved for any investment strategy the client selects.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

51

EXECUTION OF ORDERS
Where we are dealing with you on an execution-only basis, unless expressly determined and stated "in theterms agreed upon by mutual consent of the Parties", we offer reception and transmission of Order services toyou in relation to transactions in in respect of Over-The-Counter ("OTC") traded instruments, such as Spot
Forex, Contracts for Differences (CFDs) on stocks, indices, precious metals or any other financial instruments
or commodities available for trading from time to time via our Online Trading Facility (“Supported Financial
Instruments”), and such additional services as we may agree from time to time in writing.
Unless expressly determined and stated "in the terms agreed upon by mutual consent of the Parties", we will
NOT advise you on the merits or suitability of any Transaction and/or Contracts entered into pursuant to theseTerms and Conditions, nor will we manage or monitor your investments. You acknowledge that our executionof any Order on your behalf does not in any way imply that we have approved or recommended that
Transaction or investment. For your information, we have set out various risk disclosures on our Online Trading
Facility.
Unless expressly determined and stated "in the terms agreed upon by mutual consent of the Parties", allTransactions and/or Contracts we enter into with you or execute on your behalf will be placed and executed inaccordance with the terms of our ‘Order Execution Policy’ (as amended or extended from time to time) fulldetails of which are available on our Online Trading Facility (“Order Execution Policy”). Our ‘Order Execution
Policy’ is part of these Terms and Conditions and is incorporated herein by reference, shall be applicable to all
Transactions and Contracts entered into by and between you and us, to the extent that it does not impose
and/or does not seek to impose any obligations on us which we would not otherwise have’
During Dealing Hours, Orders may be placed as Market Orders to buy or sell Supported Financial Instruments
as soon as possible at the price obtainable in the Market, or on selected products as ‘Limit Orders’ and ‘Stop
Orders’ to trade when the price reaches a predefined level. ‘Limit Orders’ to buy and ‘Stop Orders’ to sell must
be placed below the current Market Price, and ‘Limit Orders’ to sell and ‘Stop Orders’ to buy must be placed
above the current Market Price. If the ‘Bid Price’ for ‘sell Orders’ or ‘Ask Price’ for ‘buy Orders’ is reached, theOrder will be filled as soon as possible at the price obtainable in the Market. ‘Limit Orders’ and ‘Stop Orders’will be executed consistent with our Order Execution Policy and are NOT guaranteed executable at the specified
price or amount, unless explicitly stated by us for the specific Order.
Unless otherwise determined and stated "in the terms agreed upon by mutual consent of the Parties", we willtransmit your Orders for execution directly to our liquidity providers on a Straight Through processing (STP)basis or via our Electronic Communication Network (ECN). Any such Transactions and/or Contracts will beentered into by you alone as a Principal and not as an agent on behalf of someone else, unless we haveotherwise agreed in advance in writing. Other than with respect to the transmission of your Orders for
execution directly to our liquidity providers on a Straight Through processing (STP) basis or via our Electronic
Communication Network (ECN), we shall not have any responsibility, either to you or to your underlying
Principals or customers (if any) and you alone will be responsible for the performance of your obligations. If
you were to act on behalf of underlying Principals or customers, whether or not you identify such underlying
principals or customers, we shall not be obliged to accept the said underlying Principals or customers as ourclient, and consequently we shall be entitled to consider and treat you as the Principal in relation to such
Transactions and/or Contracts. Notwithstanding any other provisions of the Agreement and/or any agreements
by and between us, including, without limitation, these Terms and Conditions, if you do have underlying
Principals and customers, you will at all times and under all circumstances remain liable for and will ensurethat all legal, financial and regulatory obligations are fulfilled in respect of such underlying Principals or
customers, including, without limitation, all “Know Your Customer” (“KYC”) and “Anti-Money Laundering”(“AML”) checks and monitoring, so that you will not be in breach of any of these Terms and Conditions orrender us in breach of any legal or regulatory provision by provision of our Services under these Terms andConditions to you.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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PRICES AND OPEN POSITIONS
We will provide you with ‘Transactional Ask Prices’ and ‘Transactional Bid Prices’ (“Price Quote(s)”) in respectof Supported Financial Instruments through our Online Trading Facility or, in those instances where we haveagreed to do so, through our dealing desk. The Price Quotes that we quote are determined by us and usually
represent a mark-up or mark-down on inter-bank dealing rates. Our fees and charges are set out on our Online
Trading Facility. Each price published shall be valid until the earlier of its expiration time and the time, if any, atwhich it is otherwise withdrawn by us.
Each Price Quote shall be available for use in a dealing Instruction for a Transaction and/or Contract with aprincipal amount not to exceed a maximum leverage amount, determined by us, published on our Online
Trading Facility or otherwise notified to you (“Leverage”). You acknowledge that the prices and maximum
Leverage we may offer to you may differ from prices and Leverage provided to other clients of ours and may
be withdrawn or changed by us at any time, without prior notice and without any obligation or our end toprovide any explanation and/or justification. We may in our absolute discretion and without prior notice toyou, immediately alter, withdraw or refuse to deal on any Price Quote we may have published or cease theprovision of Price Quotes altogether in some or all Supported Financial Instruments and for some or all value
dates at any time and without any obligation or our end to provide any explanation and/or justification.
Unless expressly determined and stated "in the terms agreed upon by mutual consent of the Parties", ourServices are restricted to executing Transactions and/or Contracts in Supported Financial Instruments via our
Online Trading Facility, at the Price Quotes displayed on our Online Trading Facility or otherwise communicatedto you at your request.
INSTRUCTIONS AND BASIS OF DEALING
Placing of instructions: Unless expressly agreed upon otherwise, by us all dealing Instructions must be given
to us electronically via our Online Trading Facility, although we may at our sole discretion accept instructions
from you in writing (including fax), by e-mail or other electronic means, or orally (including by telephone) or asotherwise notified to you in writing (“Instructions”), unless we tell you that Instructions can only be given in aparticular way. We may, in our absolute discretion, require confirmation (in such form as we may specify) of
any dealing Instruction, as appropriate. If you give Instructions by telephone, your conversation may berecorded. We shall be authorized to follow Instructions notwithstanding your failure to confirm them in writing.
Instructions for the simultaneous sale and purchase of a Financial Instrument on behalf of the same beneficial
owner may NOT be given under this Agreement. A dealing Instruction or Order given by you to us shall nottake effect until it is actually received by us. In the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless the context requires otherwise,“Instructions” and “Orders” shall have the same meaning.
Authority: We shall be entitled to act for you upon Instructions given or purporting to be given by you or any
Person authorized on your behalf (an “Authorized Person”), without further enquiry as to the genuineness,
authority or identity of the Person giving or purporting to give such Instructions. You shall notify us in writingof the identity of any Authorized Person entitled to give instructions to us on your behalf. Any such notice shallbe in writing and shall set out the names and specimen signatures of the Authorized Person or Persons to beauthorized. Any such authority may be revoked by notice in writing by you at any time, but shall only beeffective upon written confirmation by us of our receipt of such notice of revocation. We shall not be liable forany loss, direct or indirect, resulting from your failure to notify us of such revocation. We shall be entitled toact upon the oral or written instructions of any Authorized Person or any Person who appears to us to be an
Authorized Person, notwithstanding that the Person is not, in fact, so authorized. For practical reasons, we canonly undertake to register one Power-of-Attorney for you. We are, in accordance with general rules regarding
Powers-of-Attorneys entitled to receive instructions from any Person authorized by you as well as Persons who
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

53

appear so authorized. We do reserve the right, however, at our sole discretion, to reject the appointment of
any representative/Power-of-Attorney authorized to act in your Account and we may elect, at our sole
discretion, to dismiss and/or reject at any time any transactions performed by such representative/power ofattorney. Pursuant to general rules regarding Powers-ofAttorney, you are accountable to us for losses ordamages which we may suffer as a result of instructions from a Person who has explicit or tacit Power-ofattorney to give us Instructions on your behalf. We may refuse to act upon any Instruction from any Person
authorized by you if we can render probable that the disposal pursuant to the instruction submitted would bein violation of the legislation relevant to the area, usual market practice, including but not limited to AntiMoney Laundering (“AML”) & Know Your Customer (“KYC”) Legislation, or pertain to insider trading, or if thedisposal by our reasonable discretion will put you and/or our economic solidity at risk.
Binding Effect: Execution of a dealing Instruction shall constitute a binding agreement on the terms of such
Instruction. The procedure for entering dealing instructions is specified on our Online Trading Facility in the
online trading section.
Cancellation/withdrawal of Instructions: We can only cancel your Instructions if they have not been acted
upon. Once an instruction has been given by you or on your behalf, it cannot be rescinded, withdrawn oramended without our express prior written consent.
Right not to accept Instructions/Orders: We may (but shall not in any circumstances be obliged to) accept
Instructions to enter into a Transaction and/or Contract. We may at our absolute discretion refuse to accept
any dealing Instruction given by you or on your behalf, in whole or in part, and refuse to act on it, without
giving any reason or being liable for any loss occasioned thereby. In addition, a dealing instruction which, for
any reason, is not received by us in a manner in which it can be processed, including a failure of our Online
Trading Facility to accept or process such Instruction, shall be deemed not to have been received by us.
Control of Orders prior to execution: We have the right (but no obligation) to set limits and/or parameters tocontrol your ability to place Orders at our absolute discretion. Such limits and/or parameters may be amended,
increased, decreased, removed or added to by us at our absolute discretion and may include (without
limitation):controls over maximum Order amounts and maximum Order sizes; (ii) controls over our total exposure to you;controls over prices at which Orders may be submitted (to include (without limitation) controls over Orders
which are at a price which differs greatly from the Market Price at the time the Order is submitted; (iv) controls
over our Electronic Services (to include (without limitation) any verification procedures to ensure that any
particular Order has come from you); or (v) any other limits, parameters or controls which we may be required
to implement in accordance with Applicable Laws, Rules and/or Regulations
Order Execution Policy: We shall use our reasonable endeavours to execute any Order promptly, but inaccepting your Orders we do not represent or warrant that it will be possible to execute such Order or that
execution will be possible according to your Instructions. In general, we shall act according to instructions assoon as practically possible and shall, as far as trading Instructions are concerned, act in accordance with ourOrder Execution Policy. If, after instructions are received, we believe that it is not reasonably practicable to act
upon such instructions within a reasonable time, we may defer acting upon those Instructions until it is, in our
reasonable opinion, practicable to do so, or we may notify you that we are refusing to act upon such
Instructions. We shall not be liable for any losses resulting from such deferral or refusal. If we encounter any
material difficulty relevant to the proper carrying out of an Order on your behalf, we shall notify you promptly.
We shall place an Order on your behalf only when the relevant Market is open for dealings, and we shall deal
with any Instructions received outside Market hours as soon as possible when that relevant Market is next
open for business (in accordance with the rules of that Market). You agree that we may place an Order on yourbehalf outside a Market. When you give us a specific Instruction, our ‘Order Execution Policy’ will not apply,and we may be unable to take the steps described in such policy to obtain the best possible result in executing
your Order. You confirm that you have read and agree to our ‘Order Execution Policy’ as published from time
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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to time on our Online Trading Facility. We will notify you of any material changes to our ‘Order Execution Policy’,
but it is your responsibility to check for any other changes to our ‘Order Execution Policy’ as published fromtime to time on our Online Trading Facility. We will consider the continued placement of Orders by you toconstitute your continued consent to our Order Execution Policy as in effect from time to time.
Crossing of Orders: We may arrange for a Transaction and/or Contract to be executed, either in whole or inpart, by selling an investment to you from another client, or a client of an Affiliate of ours, or viceversa. We
shall not give you prior notice if we arrange for a Transaction and/or Contract to be executed in this manner.
Aggregation and Split of Orders: We are entitled, in our absolute discretion, to combine and/or aggregate
your Orders with our own Orders and/or with Orders of any of our Associates and/or Persons connected withus, including employees and/or other clients. Furthermore, we may split your Orders when executing them.
Orders will only be aggregated or split, however, if we reasonably believe it to be in your best interest. On someoccasions, however, aggregation and split of your Order may result in you obtaining a less favourable price inrelation to a particular Order, than if your Orders had been executed, respectively, separately or mutually.
Confirmation of Instructions: We may (but shall not in any circumstances be obliged) to require confirmationof any Instruction in such form as we may reasonably request if it appears to us that such confirmation isnecessary or desirable; or such Instruction is to close an Account or remit money due to you. It is yourresponsibility to inform us of any change to your e-mail address, the non-receipt of a confirmation, or whether
any confirmations are incorrect, before settlement.
Performance and Settlement: You will promptly deliver any Instructions, money, documents or property, which
we may require from you or which is deliverable by you under a Transaction and/or Contract in accordancewith that Transaction and/or Contract, as modified by any Instructions given by us, for the purpose of enabling
us to perform our obligations under the relevant matching Transaction and/or Contract on a Market or with anintermediate broker. If you do not provide us with such Instructions promptly, we may, at our absolute
discretion, take such steps at your cost, as we consider appropriate for our own protection or for yourprotection. This provision is similarly applicable in situations when we are unable to obtain contact with you.
Intermediate Brokers and other Agents: We may, at our entire discretion, arrange for any Transaction to beeffected with or through the agency of an intermediate broker, who may be an Associate of ours, and may or
may not be in Bermuda. Neither we, nor our respective directors, officers, employees or agents, will be liable
to you for any act or omission of such an intermediate broker or agent. No responsibility will be accepted forintermediate brokers or agents selected by you.
Position Limits: We may, in our absolute discretion, require you to limit the number of open positions which
you may have with us at any time and/or only allow you to enter into closing transactions or we may close out
any one or more positions or reverse Transactions and/or Contracts in order to ensure that the position limits
we have imposed are maintained.
Fluctuations in Exchange Rates: If you enter into any Transaction and/or Contract, any profit or loss arising asa result of a fluctuation in the exchange rate affecting such Transaction and/or Contract will be entirely for youraccount and risk.
Trade Reporting: Under Applicable Laws, Rules and/or Regulations we may be obliged to make information
about certain Transactions and/or Contracts public. You agree and acknowledge that any and all proprietary
rights in such Transaction and/or Contract information are owned by us and you waive any duty ofconfidentiality attaching to the information which we reasonably disclose.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Rollover: If we do not receive Instructions from you to settle any open Transactions and/or Contracts by theclose of the Business Day, we are hereby authorized (but not obliged) to transfer all said Contracts to the next
business date traded “(“Rollover”), as provided in further detail in Section hereinafter.
ELECTRONIC TRADING TERMS
Settlement/Trade Confirmation: You acknowledge the electronic nature of our Services via our Online Trading
Facility and the inherent risk that communications by electronic means may not reach their intended
destination or may do so much later than intended for reasons outside our control. Accordingly, any Instruction
sent by you or on your behalf via our Online Trading Facility or by e-mail shall only be deemed to have been
received and shall only then constitute a valid Instruction and/or binding Contract between you and us, whensuch Instruction has been recorded as executed by us and confirmed by us to you through a Settlement/Trade
Confirmation, and the mere transmission of an Instruction by you or on your behalf shall not by itself constitutea binding Contract between you and us.
Communications via the Internet: Since we do not control signal power, its reception or routing via Internet or
any other means of electronic communication, configuration of our clients’ equipment or reliability of its
connection, we shall not be liable for any claims, losses, damages, costs or expenses, including attorneys’ fees,
caused directly or indirectly, by any breakdown or failure of any transmission or communication system orcomputer facility belonging to us, nor for any loss, expense, cost or liability suffered or incurred by you as aresult of Instructions being given, or any other communications being made, via the Internet. You will be solely
responsible for all Orders, and for the accuracy of all information, sent via the Internet using your Access Codes.
We will not execute an Order until we have confirmed the Order to you and transmission of an Order by itself
shall not give rise to a binding Transaction and/or Contract between you and us.
Mobile trading technology: There are a series of inherent risks with the use of the mobile trading technology
such as the duplication of Orders/Instructions, latency in the prices provided, and other issues that are a resultof mobile connectivity. Prices displayed on our mobile platform are solely an indication of the executable rates
and may NOT reflect the actual executed price of the Order. Our mobile feature utilizes public communication
network circuits for the transmission of messages. We shall not be liable for any and all circumstances in which
you experience a delay in Price Quote or an inability to trade caused by network circuit transmission problems
or any other problems outside our direct control, which include but are not limited to the strength of themobile signal, cellular latency, or any other issues that may arise between you and any internet service
provider, phone service provider, or any other service provider. Please also note that some of the features
available on Online Trading Facility may not be available on our mobile feature.
Usernames and Passwords: You are obliged to keep your usernames and passwords (“Access Codes”) secretand ensure that third parties do not obtain access to our Online Trading Facility. Without prejudice to any otherprovisions of the Agreement and/or any agreements by and between us, including, without limitation, theseTerms and Conditions, you will be liable for all Transactions and/or Contracts executed by means of your Access
Codes, even if such may be wrongful.
Pricing Data: Unless otherwise indicated or agreed upon any prices shown on our Online Trading Facility are
indicative at the time shown based on data that is subject to constant change. The execution price is that whichis confirmed to you on the Settlement/Trade Confirmation issued (whether on screen or otherwise) after yourOrder is executed, although this price may in certain cases differ from the price appearing on the screen at thetime the Order was placed. In the event that an erroneous price is used as the basis of any transaction, we
reserve the right, at our sole discretion, to amend or revoke the details of the Transaction(s) and/or Contract(s)in question.
Restrictions on Services Provided: There may be restrictions on the number of Transactions and/or Contracts
that you can enter into on any one day and also in terms of the total value of those Transactions and/or
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Contracts when using our Online Trading Facility. You acknowledge that some Markets place restrictions on thetypes of Orders that can be directly transmitted to their electronic trading systems. These types of Orders are
sometimes described as ‘Synthetic Orders’. The transmission of Synthetic Orders to the Market is dependent
upon the accurate and timely receipt of prices or quotes from the relevant Market or market data provider. You
acknowledge that a Market may cancel a Synthetic Order when upgrading its systems, trading screens may
drop the record of such a Synthetic Order, and you enter such Synthetic Orders at your own risk.
Limit Order Functionality: The ‘Limit Order’ functionality of our Online Trading Facility will be subject to theInternet service remaining available over the period in which the’ Limit Order’ is outstanding, and will be
subject to any input Order size limits remaining in excess of your Order size and such position limits and/or any
other limits as may be determined by us to be applicable to you (whether or not disclosed to you) and yourstill being able to facilitate the Order at the time the limit price is reached.
Access Requirements: You will be responsible for providing the computer system(s) to enable you to accessand/or use our Online Trading Facility and for making all appropriate arrangements with any
telecommunications suppliers or, where access to the On-line Facility is provided through a third party server,
any such third party, necessary in order to obtain access to our On-line Facility; neither we nor any company
maintaining, operating, owning, licensing, or providing services to us in connection with, our On-line Facility (a“Third Party Service Provider”) makes any representation or warranty as to the availability, utility, suitability orotherwise of any such equipment, software or arrangements.
Virus detection: You will be responsible for the installation and proper use of any virus detection/scanning
program we require from time to time and for the implementation and regular use of up-to-date virus
detection/scanning programs; in the event you become aware of a material defect, malfunction or virus in yourcomputer system(s) or in our online trading Facility, you will immediately notify us of such defect, malfunction
or virus and cease all use of our Online Trading Facility until you have received permission from us to resume.
Use of Information, Data and Software: In the event that you receive any data, information or Software via
our Online Trading Facility, other than that which you are entitled to receive pursuant to the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, you will
immediately notify us in writing and will not use, in any way whatsoever, such data, information or Software.
Maintaining standards: When using our Online Trading Facility you must: (a) ensure that your computer
systems are maintained in good order and are suitable for use with our Online Trading Facility; (b) run suchtests and provide such information to us as we shall reasonably consider necessary to establish that yourcomputer systems satisfy the requirements notified by us to you from time to time; (c) carry out virus checks
on a regular basis; (d) inform us immediately of any unauthorized access to our Online Trading Facility or any
unauthorized Transaction or Instruction which you know of or suspect and, if within your control, cause such
unauthorized use to cease; and (e) not at any time leave the computer terminal from which you have accessed
our Online Trading Facility or let anyone else use such computer terminal until you have logged off from our
Online Trading Facility.
System defects: In the event you become aware of a material defect, malfunction or virus in your computer
system(s) or our Online Trading Facility, you will immediately notify us in writing of such defect, malfunction orvirus and cease all use of our Online Trading Facility until you have received permission from us to resume use.
Intellectual Property: All rights in patents, copyrights, design rights, trade marks and any other intellectual
property rights (whether registered or unregistered) relating to our Online Trading Facility remain vested in us
or our Licensors. You will not copy, interfere with, tamper with, alter, amend or modify our Online Trading
Facility or any part or parts thereof unless expressly permitted by us inwriting, reverse compile or disassemble our Online Trading Facility, nor purport to do any of the same or permit
any of the same to be done.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Liability And Indemnity: Without prejudice to any other terms of the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions, relating to the limitation of liability
and provision of indemnities, the following clauses shall apply to the Services we provide via our Online Trading
Facility: (a) System errors: We shall have no liability to you for damage which you may suffer as a result oftransmission errors, technical faults, malfunctions, illegal intervention in network equipment, network
overloads, malicious blocking of access by third parties, internet malfunctions, interruptions or otherdeficiencies on the part of internet service providers. You acknowledge that access to our Online Trading
Facility may be limited or unavailable due to such system errors, and that we reserve the right upon notice tosuspend access to our Online Trading Facility for this reason; (b) Delays: Neither we nor any third party
software provider accepts any liability in respect of any delays, inaccuracies, errors or omissions in any data
provided to you via our Online Trading Facility; (c) Viruses from our Online Trading Facility: We shall have noliability to you (whether in contract or in tort, including negligence) in the event that any viruses, worms,
software bombs or similar items are introduced into your computer system(s) via our Online Trading Facility or
any software provided by us to you in order to enable you to use our Online Trading Facility, provided that wehave taken reasonable steps to prevent any such introduction; (d) Viruses from your Computer System(s): Youwill ensure that no computer viruses, worms, software bombs or similar items are introduced into our Online
Trading Facility, computer system(s) or network(s) and you will indemnify us on demand for any loss that we
suffer arising as a result of any such introduction.
Unauthorized use: We shall not be liable for any loss, liability or cost whatsoever arising from any unauthorized
use of our Online Trading Facility. You shall on demand indemnify, protect and hold us harmless from andagainst all losses, liabilities, judgments, suits, actions, proceedings, claims, damages and costs resulting fromor arising out of any act or omission by any Person using our Online Trading Facility by using your designatedAccess Codes (usernames and/or passwords), whether or not you authorized such use.
Suspension or permanent withdrawal with notice: Without prejudice to any other provisions of theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, we may suspend or permanently withdraw our Online Trading Facility, by giving you five (5)Business Days' written notice.
Immediate suspension or permanent withdrawal without notice: Without prejudice to any other provisionsof the Agreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, we shall be entitled, unilaterally and with immediate effect, to suspend or withdraw permanently
your ability to access and/or use our Online Trading Facility, or any part thereof, without prior notice, where
we consider it necessary or advisable to do so, for example due to: (a) your non-compliance with any Applicable
Laws, Rules and/or Regulations (b) breach of any provisions of this Agreement; (c) on the occurrence of an
Event of Default; (d) network problems; (e) failure of power supply; (f) maintenance; or (g) to protect you when
there has been a breach of security. In addition, the use and/or access of our Online Trading Facility, or any
part thereof, may be terminated automatically, upon the termination (for whatever reason) of (a) any license
granted to us which relates to the operation of our Online Trading Facility; or (b) this Agreement. The use
and/or access of our Online Trading Facility may be terminated immediately, in whole or in part, if any
Underlying Instruments relating to any Supported Financial Instrument(s) is/are withdrawn by any Market
and/or if we are required to withdraw our Online Trading Facility, in whole or in part, to comply with Applicable
Laws, Rules and/or Regulations
Effects of permanent withdrawal: In the event of a termination of the access and/or use of our Online Trading
Facility for any reason, upon our first request, you shall, at our option, return to us or destroy all hardware,
Software, System Documentation and/or other documentation or files we have provided to you in connection
with our Online Trading Facility, and any copies thereof.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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ELECTRONIC TRADING METHODOLOGY
Upon receipt of a ‘Price Quote’ from us via our Online Trading Facility, you may issue a ‘Deal Request’ to us via
our Online Trading Facility, applying the very most recent ‘Price Quote’ sent to you. You acknowledge that you
shall not be entitled to the execution of a Transaction and/or Contract and shall not be entitled to send a ‘Deal
Request’ to us via our Online Trading Facility, in response to a ‘Price Quote’, unless such ‘Price Quote’ indicatesthat it is a ‘Dealable Quote’.
Upon receipt of a ‘Deal Request’ from you via our Online Trading Facility, we shall issue a ‘Deal Response’ toyou via our Online Trading Facility. The ‘Deal Response’ will indicate whether your ‘Deal Request’ was acceptedor not.
Notwithstanding anything to the contrary in the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, you acknowledge and agree that we shall not be
under any obligation to provide a ‘Deal Response’ to you to the extent that a Credit Limitation exists withrespect to your Account. We acknowledge and agree to disclose any such Credit Limitations to you.
You acknowledge and agree that if and when you issue a ‘Deal Request’ to us via our Online Trading Facility,
you shall be bound to the terms of the Transaction and/or Contract upon our placement of the ‘Deal Response’.
In case of failure to receive any ‘Deal Response’ due to connectivity problems, you shall immediately contact
us through other means of communication, to obtain confirmation of the executed Transaction and/or
Contract.
You acknowledge and agree that you are solely responsible for all ‘Deal Requests’ submitted via our Online
Trading Facility and that we are under no duty of inquiry regarding the capacity of any Person using any Access
Codes (logins and password(s) issued to you and that any such Person will be deemed by us as having theauthority to bind you with respect to all ‘Deal Requests’ submitted to us via your Account on our Online Trading
Facility.
TRADE CONFIRMATIONS AND ACCOUNT STATEMENTS
Electronic Settlement/Trade Confirmations: Following the execution of a dealing Instruction for yourAccount, we will confirm that Transaction and/or Contract as soon as we reasonably can by posting a
trade confirmation (“Settlement/Trade Confirmation”) to your open positions window (if an opening
transaction) or closed positions window (if a closing transaction) on our Online Trading Facility, but failure to
do so will not affect the validity of the transaction. Settlement/Trade Confirmations will normally be available
instantly following the execution of the Transaction via our Online Trading Facility. Confirmations shall bedeemed to be conclusive and binding on you if not objected to immediately upon receipt with such objection
confirmed in writing (including e-mail or electronic mail) no later than close of business on the ‘Business Day’(being any calendar day (except any Saturday or Sunday) calendar day, beginning at 00:00 GMT + 11 and endingat 23:59 GMT + 11, on which banks in Bermuda are open for business) following the day on which theSettlement/Trade Confirmation is posted to your open positions window (if an opening transaction) or closed
positions window (if a closing transaction) on our Online Trading Facility. In the event that you believe to haveentered into a Transaction or Contract, which should have produced a Settlement/Trade Confirmation orotherwise a posting on your Account, but you have not received such confirmation, you must inform us
immediately when you ought to have received such confirmation. In the absence of such information, theTransaction and/or Contract may, at our reasonable discretion, be deemed to be non–existent.
Reports of Account Activity: We will post details of your Account activity on our Online Trading Facility and you
will be able to generate daily, monthly and yearly reports of Account activity as well as a report of each
executed Transaction and/or Contract. Updated Account information normally will be updated periodicallyduring our Dealing Hours and will in any event be available no more than twenty-four (24) hours after any
activity takes place on your Account. Posting of Account Information (as defined below) via our Online Trading
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Facility will be deemed delivery of Settlement/Trade Confirmations and Account statements. Accountinformation will include Settlement/Trade Confirmations with ticket numbers, purchase and sale rates, utilized
Margin available for Margin trading, statements of profits and losses, as well as current open positions, anyother information required to be provided under Applicable Laws, Rules and/or Regulations and any otherinformation we may make available (“Account Information”). We may in our absolute discretion withdraw oramend any Account Information at any time. Unless otherwise determined and stated "in the terms agreed
upon by mutual consent of the Parties", you agree that we are under no obligation to provide confirmations in
hard copy or by e-mail rather than through our Online Trading Facility. By accepting these Terms and Conditions
you agree not to receive any Account Information in printed form us other than upon specific request. You
must verify the contents of all Account Information received from us. The Account Information posted on our
Online Trading Facility shall (save if manifestly incorrect) be conclusive evidence of your Transactions and/or
Contracts, open positions, Margin and cash balances, and shall be conclusive and binding on you, if not
objected to immediately upon receipt with such objection confirmed in writing (including e-mail or electronicmail) no later than close of business on the Business Day following the day on such information is posted on
our Online Trading Facility.
CONSENT TO RECEIVE ELECTRONIC TRANSMISSION OF TRADE CONFIRMATIONS & ACCOUNT STATEMENTS
You consent to receive all Account information and Settlement/Trade Confirmations via the Internet and that
Orders or instructions given to you via e-mail or other electronic means will constitute evidence of the Orders
or Instructions given. You will be able to access all your Account information via our Online Trading Facility
using your own Access Codes. You will have access via our Online Trading Facility to customizable statementsthat will allow you the ability to view, individual Transactions and/or Contracts, daily, weekly, and monthly
reports and trade information. The updated Account information normally will be updated periodically during
our Dealing Hours and will in any event be available no more than twenty-four (24) hours after activity is
generated in your Account.
The posting of these activities will be deemed delivery of Settlement/Trade Confirmation and Account activity
statements. The information will include Settlement/Trade Confirmations with ticket numbers, buy and salerates, transaction amount, statements of profit and loss, current open positions as well as pending Orders.
If you no longer wish to communicate via electronic media, you must notify us and revoke this consent inwriting. If you do not wish to communicate via electronic media at all, you must inform us of your wishes when
applying to open an Account with us. However, if you revoke your consent, your access to our Online Trading
Facility may be restricted or terminated, at our sole discretion.
As previously indicated, any such communications being made via electronic media shall be treated as satisfying
any legal requirement that a communication should be signed and ‘in writing’, to the extent permitted by
Applicable Laws, Rules and/or Regulations. Furthermore, you hereby waive any rights or requirements under
any Applicable Laws, Rules and/or Regulations in any jurisdiction which require an original (nonelectronic)
signature or delivery or retention of non-electronic records, to the extent permitted under applicablemandatory law.

RECORDING OF TELEPHONE CONVERSATIONS, INTERNET CONVERSATIONS (CHAT), AND MEETINGSYour telephone conversations, Electronic Messaging, e-mails, internet conversations (chat), meetings andother communications with us may be recorded/maintained by us. Any recordings shall be and shall remain
our sole property and will be accepted by you as conclusive evidence of their content as recorded by us. You
agree that we may deliver copies of transcripts of such recordings to any court, regulatory or government
authority, including without limitation, in disputes which may arise between you and us.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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However, technical reasons may prevent us from recording a conversation, and recordings or transcripts madeby us will be destroyed in accordance with our normal practice. Consequently, you should not rely on suchrecordings to be available.
SETTLEMENT DATE AND OFFSET INSTRUCTIONS
We will automatically close all open ‘CFD’/ ‘Spot Forex’ positions on your account at the end of the business
day and reopen a new ‘CFD’/ ‘Spot Forex’ position on the following Business Day unless you instruct us to close
your position(s) prior to 22:00 (GMT time). We will charge you a fee in respect of each such position (“RenewalFee”). Open ‘CFD’/’Spot Forex’ positions closed before 22:00 (GMT time) will not be charged a Renewal Fee.
The renewal Fees that we charge will be published on our Online Trading Facility. We shall attempt to collectsuch Renewal Fees from the free balance in your Account with us. In the event that there are no sufficient
funds in your free balance to cover such Renewal Fees, you hereby agree that we may attempt to charge, at
our sole discretion, such Renewal Fee(s) from your credit card(s). Please note that the minimum charge froma credit card is USD 3.00. Accordingly, any surplus balance, after paying the Renewal Fee(s) will be credited toyour balance. In the event that we are unable to collect such Renewal Fee(s), we reserve the right to close part,or all, of your open positions. You shall be liable for promptly paying all Renewal Fees(s), even if all Margin
previously deposited by you has been lost.
In the absence of clear and timely instructions from you, we are authorized, at our absolute discretion, to offset
all or any portion of the currency positions in your Account(s) or to make or receive delivery on your behalf
upon such terms and by such methods deemed reasonable by us.
SUITABILITY AND APPROPRIATENESS
If we (you and us) agree that we shall provide you with advisory dealing services, we will assess the suitabilityof such instruments or services provided or offered to you in accordance with the BERMUDA Rules on assessing
suitability.
If, on your own initiative, you asked us to provide you with execution-only dealing services in NonComplex
Products, we are not required to assess the appropriateness of the Financial Instrument or the Service provided
or offered to you; as a result, you will not benefit from the protection of the BERMUDA Rules on assessing
appropriateness; accordingly, when giving Orders or instructions to us, you must rely upon your own
judgement; you should get independent advice from an authorised investment adviser if you have any doubt.
If we are providing execution-only services to you in relation to Complex Products, we are required to assess
whether it is appropriate for you to deal in a Complex Product by requesting from you certain information,
relating to your experience and knowledge of trading such products, that will help us assess whether you
understand the risks associated with dealing in them; typically, we will ask you for this information during the
Account opening procedure, but we may need to ask you for additional information in the future if you decideto deal in a new product type or sector.
If you do not provide sufficient information to allow us to carry out the appropriateness assessment, or if you
do not provide any information at all, we will be unable able to assess whether you have the necessary
knowledge and experience to understand the risks involved; if you still wish for us to proceed on your behalf,
we may do so at our reasonable discretion; if we do so, you should note that we may not be able to determine
whether the dealing in the particular Complex Product is appropriate for you or is in your best interests.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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If, on the basis of the information that you have supplied to us in relation to your knowledge and experience,
we consider that dealing in the particular Complex Product is not appropriate, we will warn you of this; if you
still wish us to proceed on your behalf, we may do so at our reasonable discretion; if we do so, you should notethat it may not be appropriate for you and that you may be exposing yourself to risks that fall outside yourknowledge and experience and/or which you may not have the knowledge or experience to properly assess
and/or control to mitigate their consequences to you.
Even where we carried out an appropriateness assessment, you may in any event wish to get independent
advice from an authorised investment adviser if you have any doubts about dealing in Complex Products.
THIRD PARTY MT4 LETTER OF DIRECTION
Where we offer our clients the possibility to enter into Transactions in Financial Instruments via a Metatrader
4 trading platform that is utilising a third-party bridge. The provisions of this Section apply to clients using theMetatrader 4 trading platform that is incorporating the third-party bridge (the “MT4 Program”).
If you are utilising the MT4 Program, you agree to the provisions of this Section and authorises us to act
accordingly. You understand that your trading access to the MT4 Program is provided by MetaQuotes
Software Corporation, and not by us. You further acknowledge that MetaQuotes Software Corporation is anindependent third party unrelated to us.
You wish to utilise the MT4 Program to execute trades and to direct trade orders and trade details to us. Whereyou utilize the MT4 Program, you will not be entering trade orders and trade details directly with us, but rather
will be entering trade orders and trade details via the MT4 Program, a third party. You hereby authorise anddirect us to enter trades for your Account in accordance with trading signals generated and sent to us by the
MT4 Program. In consideration of opening your Account, the you acknowledge and agree to the additionalterms and conditions set forth hereinafter, as follows:
you fully understand that the trade orders and trade details are generated by the MT4 Program and not by us
and that our responsibility is to use commercially reasonable efforts to enter orders pursuant to the tradeorders and trade details generated by the MT4 Program as received by us. You confirm that we have notsolicited, or in any other way recommended, your use of the MT4 Program. You have made inquiries andconducted research into the MT4 Program sufficient to make an informed investment decision. We cannot
imply or guarantee that you will make a profit from the MT4 Program and you agree that we will not be held
responsible for the MT4 Program’s performance or trading losses incurred by you as a result of trading pursuant
to the MT4 Program; we will enter trade orders for your account in accordance with the trade orders and tradedetails generated by the MT4 Program;if more than one of our customers uses the same system or service as the MT4 Program, you acknowledges
and agree that we may enter block orders to enhance order execution, in which case a fair and systematic fill
allocation method will be employed; you understand and acknowledge that we will only be responsible forusing our commercially reasonable efforts to execute, in a timely fashion, the trade orders and trade details
generated by the MT4 Program; we shall not be responsible for any error or malfunction of the MT4 Program,mechanical or communication line failure, system errors, data failure or any other causes beyond ourreasonable control; you acknowledge that we can accept and execute orders only if actually received or
generated and then on a “not held” basis (i.e., we shall not be held responsible for the execution of the orderat the price indicated or otherwise). we may act upon the authority given by this Section until you revoke theauthority by written notice addressed and actually delivered to us in accordance with these Terms andConditions; we may also terminate the authorisation over the MT4 Program at any time for any reason in
our sole discretion and, in that event, will provide you with written notice; you shall be responsible for any
Open Positions in the your Account at the time the MT4 Program is terminated; you shall permit us to
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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execute offsetting orders for any Open Positions in your Account at the time the letter of direction is
terminated.
You agree that, in the absence of wilful or wanton misconduct, neither we, nor any of our officers, directors,
employees, consultants, agents or affiliates will be held liable for any act or omission in the course of or inconnection with your use of the MT4 Program; you shall keep us, our principals, officers, directors, employees,
agents, successor and/or assigns harmless and you shall fully reimburse us, our principals, officers, directors,
employees, agents, successor and/or assigns, from all losses and/or liability (including reasonable attorney’s
and/or accountant’s fees) incurred or resulting from your use of the MT4 Program or our fulfilment of ourauthority under this Section, provided that there has been no judicial determination that such liability was
the result of our gross negligence or recklessness or intentional misconduct.
CHAPTER F: MARGIN DEPOSITS, COLLATERAL AND PAYMENTMARGIN AND COLLATERAL
Margin: As a condition of entering into a Margined Transaction, we may in our sole and absolute discretion
require the deposit of funds or other collateral acceptable to us as security for payment of any losses incurredby you in respect of any Transaction (“Margin”). You must satisfy any and all Margin Requirements immediately
as a condition to opening the relevant Margined Transaction and we may decline to open any Margined
Transaction if you do not have sufficient funds in your Account to satisfy the Margin Requirement for that
Transaction at the time the relevant Order is placed.
Contingent liability: You also have a continuing Margin obligation to ensure that your Account balance, taking
into account your P&L, is equal or greater than the Margin Requirements for all of your Open Positions. For the
avoidance of doubt, you are obligated to maintain in your Account, at all times, sufficient funds to meet all
Margin Requirements. If you believe that you cannot or will not be able to meet the Margin Requirement, you
should reduce your open margined positions or transfer adequate funds to us. Where we effect or arrange a
Transaction and/or Contract, involving, for instance, a Contract for Differences, you should note that,
depending upon the nature of the Transaction or Contract, you may be liable to make further payments when
the Transaction and/or Contract fails to be completed or upon the earlier settlement or closing out of yourposition. You will be required to make further variable payments by way of Margin against the purchase priceof the investment, instead of paying (or receiving) the whole purchase (or sale) price immediately. The
movement in the Market Price of your investment will affect the amount of Margin payment you will be
required to make.
Margin Requirement shortfall: Where there is any shortfall between your Account balance (taking into accountP&L) and your Margin Requirement for all open transactions, we may in our sole and absolute discretionchoose to close or terminate one, several, or all of your open margined positions immediately, with or without
notice to you. If we may close one, several or all of your Margin Transactions, you should expect that we willclose all of your Margined Transactions
Margin Call Warnings: Where you are near breach or in breach of any Margin Requirements, we may make a
Margin Call Warning in accordance with these Terms. We are not obliged to make Margin Call Warnings to you
at all or within any specific time period. Margin Call Warnings may be made at any time and in any way
permitted under these Terms and Conditions. For this reason, it is in your best interest to keep us regularly
apprised of changes in your contact details. We shall be deemed to have made a Margin Call Warning if wenotify you electronically via our Online Trading Facility.
In the event that a Margin Call Warnings is made, you shall pay us on demand: (a) such sums of money as mayfrom time to time be due to us under a Contract and such sums as may be required in or towards clearance ofany debit balance on any Account; (b) such sums of money as we may from time to time require as Security
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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for your obligations to us; (c) any amount necessary for maintaining a positive balance in any and all of yourAccounts with us; and (d) such sums of money by way of deposits or as initial or variation Margin, in respectof and as Security for your actual, future and contingent liabilities to us in such amounts and in such forms as
we, in our absolute discretion, may require. You accept that our Online Trading Facility operates with anautomated risk monitoring and Margin Call facility designed to monitor the overall utilization of your available
Collateral in support of our prevailing Margin and cash funding requirements for the Transactions and/or
Contracts you are entering into via our Online Trading Facility; using this automated Margin monitoring facility,
we will, unless otherwise stated, apply initial, maintenance or close out Margin call at the prevailing Margin
Call levels, as stated from time to time on our Online Trading Facility.Any requirement for Margin payments
must be satisfied within such time as may be specified by us or, if none is specified, immediately. One Margin
call does not preclude another.
We shall not be liable for any failure to contact you with respect to a Margin Call Warning. Should we make a
Margin Call Warning, the terms and conditions of the Margin Call Warning will be detailed within such warningand we reserve the right to change the terms and conditions of any Margin Call Warning based on market
conditions, with or without notice to you. Our right to close out your open Transactions as provided in Section
above shall not be limited or restricted by any Margin Call Warning if or where made.
Accessing of details of Margin amounts: You may access details of Margin amounts paid and owing by logging
into our Online Trading Facility or by calling us. You acknowledge: that you are responsible for monitoring andpaying the Margin required at all times for all Margined Transactions with us; and that your obligation to pay
Margin will exist whether or not we contact you regarding any outstanding Margin obligations.
Margin Requirements: Our Margin Requirements for different types of Margined products are generally
displayed on our Online Trading Facility and Website(s), and in certain instances, we may notify you of Margin
requirements through alternative means. However, we reserve the right to determine specific Margin
Requirements for individual Margin Transactions.
Reduction or waiver of all or part of Margin: Margin will not be required where we have expressly agreed toreduce or waive all or part of the Margin that we would otherwise require you to pay in respect of aTransaction. The period of such waiver or reduction may be temporary or may be in place until further notified.
Any such waiver or reduction must be agreed in writing (including by email) and will not limit, fetter or restrict
our right to seek further Margin from you in respect of that Transaction or any Transaction thereafter.
Change of Margin Requirements: You are specifically made aware that the Margin Requirements are subject
to change without notice, including without limitation the Margin rates governing your open Margined
positions, and that we may change our Margin requirements at any time. When a Margined position has been
opened, we are not allowed to close the Margin Transaction at our discretion, but only at your instruction oraccording to our rights under these Terms and Conditions.
Multiple Accounts: If you have opened more than one Account with the Company or any Associated Company,
we are entitled to transfer money or Security from one Account to another to satisfy Margin requirements, inour sole and absolute discretion, even if such transfer will necessitate the closing of open Margined positions
or cancellation of orders on the Account from which the transfer takes place.
Form of Margin: Margin must be provided in the form of cash or, only in those instances in which we may
agree otherwise in writing, you may satisfy Margin Requirements and/or a Margin Call Warning by providing
other assets in a form acceptable to, such as collateral (by which we mean investments, securities, bonds or
any other financial instrument, property or asset acceptable to us in lieu of cash) (“Collateral”) (all together“Assets”). The currency of the cash Margin you pay to us shall be the currency of the relevant underlying
Transaction (if applicable) or as we may in our discretion reasonably decide from time to time. Cash Margin is
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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paid to us as an outright transfer of title and you will not retain any interest in it. Cash Margin received by us
will be recorded by us as a cash repayment obligation owed by us to you.
Non-cash Margin: Where we agree to accept non-cash Collateral, it must be in a form acceptable to us. The
value of the non-cash collateral and the proportion of that value to be taken into account for Margin purposes
shall be determined by us in our absolute discretion. We shall apply such terms and conditions as to theacceptance, valuation and release of any Collateral you may provide as we may in our absolute discretion think
appropriate. In particular, you are made specifically aware that we may determine, at our reasonablediscretion, the value by which any such Collateral shall be registered and consequently contribute to ourdemands towards you and that we may continuously change the value of such Collateral without prior notice
to you. In determining the amount of Collateral and the amount of our obligations to you, we may apply suchmethodology (including judgments as to the future movement of markets and values), as we consider
appropriate, consistent with Applicable Laws, Rules and/or Regulations.
Security Interest: Our services to you are provided on the understanding that where you transfer money and/orCollateral to us by way of Margin or otherwise, we will treat this as a transfer of full ownership of such money
and/or Collateral to us for the purpose of securing or covering your present, future, actual, contingent orprospective obligations, and we will not treat such money and/or Collateral as ‘Client Money’. Any such money
and/or Collateral received by us from you or a third party for your account will be owed by us to you, even
where we are acting as your Agent and you no longer have a proprietary claim over such money and/orCollateral transferred to us by way of Margin, and we can deal with it in our own right. Accordingly, without
prejudice to any other provisions of the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, we shall have the right to pledge, charge, loan or otherwise
use or dispose of all or part of such money and/or Collateral provided to us by way of Margin, as if we were
the beneficial owner thereof. We will transfer an equivalent amount of money and/or Collateral back to you
where, at our sole discretion, we consider that the amount of money and/or Collateral you have transferred to
us is more than is necessary to cover your present and future obligations to us. You agree that Collateralprovided in the form of investments will be returned to you in the form of investments of the same description
and amount as those accepted by us as Collateral, but that any such Collateral returned to you need not be theactual investments provided by you.
Failure to meet Margin Call: You are responsible for maintaining appropriate arrangements with us at all times
for the receipt and communication of information regarding Margin. You shall promptly deliver any money orproperty deliverable by you in respect of any Transaction or Contract in accordance with the terms of that
Transaction or Contract and with any instructions given by us for the purpose of enabling us to perform ourobligations under any corresponding Transaction or Contract entered into between us and a third party. If you
fail to provide us with Margin, deposits or other payable amounts in accordance with the terms of any
Transaction or Contract within in the required time, we will be entitled, at our sole discretion, to close out any
open Transaction or Contract without prior notice to you and apply any proceeds thereof to payment of any
amounts due to us and/or, as we deem fit at our sole discretion, exercise our.
Currency Conversion: All initial and subsequent calls for Margin shall be made in the currency of theTransaction and/or Contract, or in the currency of your Account as we determine, in such amounts as we may
in our absolute discretion require; we are authorized to convert funds in your account for Margin into and fromsuch foreign currency at a rate of exchange determined by us on the basis of the then prevailing money market
rates. In such circumstances, we will not be liable to you for any loss suffered by you as a result of such action(although, we will use reasonable endeavours to only convert such funds as may prudently be required to cover
the position in respect of the relevant transaction).
Refusal to accept Margin: We reserve the right to return to you at any time, with or without reasons andwithout being obliged to provide you with any justification of explanation, any Assets deposited with us by wayof Margin, Collateral, deposits or otherwise.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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MARGIN CALL POLICY
You accept that our Online Trading Facility operates with an automated risk monitoring, and Margin Call facility
designed to monitor the overall utilization of your available collateral in support of our prevailing Margin andcash funding requirements for the Transactions and/or Contracts you are entering into via our Online Trading
Facility; using this automated Margin monitoring facility, we will, unless otherwise stated, apply initial,
maintenance or close out Margin call at the prevailing Margin Call levels, as stated from time to time on our
Online Trading Facility.
Once the equity in your account falls below the used Margin, (the Margin required maintaining all existing
positions), all positions may be liquidated at the prevailing market rates.
In the case where a ‘Stop Order’ or ‘Limit Order’ (or ‘Entry Stop’ or ‘Limit’) is entered at the same price thatwould trigger a Margin call, the Margin call will be executed when that price is touched (or gaps through theprice) and all pending Orders attached to that trade will be cancelled.
PLEASE NOTE THAT A MARGIN CALL, WHEN TRIGGERED, WILL TAKE PRECEDENCE OVER OTHER ORDER TYPES.
SECURITY
Security Interest: All Assets belonging to you which we may at any time be holding for you (either individually,
jointly with another, or as a guarantor of the account of any other Person) or which may at any time be in ourpossession or control or carried on our books for any purpose, including safekeeping, are to be held by us as
Security for the performance of your obligations to us and held subject to a general lien and right of set-off for
any of your liabilities to us and irrespective of the number of Accounts you may have with us. Without limitationsuch Security shall comprise the credit balances on your Account(s), any securities registered as belonging to
you on our books, and the value of your open positions with us. We may, in our absolute discretion and without
notice to you, apply and/or transfer any or all Assets belonging to you between any of your accounts with us
and combine or set off between accounts and convert any currency into another. Without prejudice to any
other rights to which we may be entitled, we may at any time and without notice to you set off any amounts(whether actual or contingent, present or future) at any time owing between you and us paying you thedifference.
Secured Obligations: Furthermore, as a continuing Security for the performance of all your obligations(whether actual or contingent, present or future) to us under or pursuant to these Terms and Conditions (the“Secured Obligations”) you grant to us, with full title guarantee, a first fixed Security interest in all your Assets
now or in the future provided by you to us or to our Order or under our direction or control or otherwise
standing to the credit of your Account(s) under these Terms and Conditions or otherwise held by us or our
nominees on your behalf. You agree that we shall be able to realize and apply such Assets in or towards
satisfaction of all or any part of any Secured Obligations that are due and payable to us at any time without
notice to you and without being liable to you for any loss which may arise through such realization.
Further assurance: You agree to execute such further documents and to take such further steps as we may
reasonably require in order to perfect our Security interest over, be registered as owner of or obtain legal title
to any Margin provided to us, secure further the Secured Obligations, enable us to exercise our rights or tosatisfy any Market requirement.
Substitution: You may not withdraw or substitute any Assets or property subject to our Security interest
without our prior express and written consent.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Set-off on Default: If an Event of Default occurs (as defined hereinafter) or this Agreement terminates, we shall
set-off the balance of cash Margin owed by us to you against your obligations (as reasonably valued by us) tous. The net amount, if any, payable between us following such set-off, shall take into account the amounts
payable to us under the Clause headed “Netting” of this Agreement.
Right to pledge, re-pledge, hypothecate, invest or loan: You hereby warrant and represent that any property
or Assets you transfer to us as Collateral under these Terms and Conditions are free from any lien, Security
interest or other encumbrance other than the lien created under these Terms and Conditions You hereby also
grant to us the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the propertyof other clients any Collateral we hold for you whether, to ourselves as broker or to others in satisfaction of ourclients’ obligations to us or such third party.
Negative pledge: You undertake neither to create nor to have outstanding any Security interest whatsoever
over, nor to agree to assign or transfer, any of the cash or non-cash Margin transferred to us, except a lien
routinely imposed on all securities in a clearing system in which such securities may be held.
Power to charge: You agree that we may, to the extent that any of the Margin you provide us with under theseTerms and Conditions constitutes “financial collateral” and this Agreement and your obligations hereunderconstitute, free of any adverse interest of yours or any other person, we may grant a security interest over any
such margin provided by you to cover any of our obligations to an intermediate broker or Market, including
obligations owed by virtue of the positions held by us or any other of our clients.
Power of appropriation: You further agree that, to the extent that any of the Margin you provide us with underthese Terms and Conditions constitutes “financial collateral” free of any adverse interest of yours or any otherperson, we shall have the right to appropriate all or any part of such financial collateral in or towards dischargeof any Secured Obligations. For this purpose, you agree that thevalue of such financial collateral so appropriated shall be the amount of the margin, together with any accrued,
but un-posted interest, at the time the right of the appropriation is exercised. You further acknowledge andagree that the method of valuation provided for in this Agreement shall be deemed to constitute acommercially reasonable method of valuation for the purposes hereof.
Power of sale: If an Event of Default occurs (as defined hereinafter), we may exercise the power to sell all or
any part of the Margin/Collateral/Assets you provide us with under these Terms and Conditions and shall beentitled to apply the proceeds of sale or other disposal in paying the costs of such sale or other disposal andin or towards satisfaction of the Secured Obligations. Such sale shall take place by the means that we in our
reasonable discretion determines and at the price that we in our reasonable discretion determine to be thebest obtainable.
General lien: In addition, and without prejudice to any rights to which we may be entitled under thisAgreement or any Applicable Laws, Rules and/or Regulations we shall have a general lien on all Assets andproperty held on your behalf by us, our Associates or our nominees, until the satisfaction of all Secured
Obligations. Without limitation, such general lien shall comprise the credit balances on your Accounts, thesecurities registered as belonging to you on our books, and the value of your open positions with us. We may,in our absolute discretion and without notice to you, apply and/or transfer any or all such Assets which you
have deposited at any time with us or which may at any time be in our possession or control or carried on our
books for any purpose, including safe keeping, between any of your Accounts with us and combine or set off
between accounts and convert any currency into another. Without prejudice to any other rights to which we
may be entitled, we may at any time and without notice to you set-off any amounts (whether actual orcontingent, present or future) at any time owing between you and us paying you the difference.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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CHAPTER G: COMMISSIONS, FEES AND CHARGESCOMMISSIONS, FEES AND CHARGESYou shall pay to us such fees and charges (including, without limitation, spreads, charges, Margin, interest andother fees) (“Commissions and Charges”) at such rates as are notified by us to you from time to time or
published on our Online Trading Facility. By accepting these Terms and Conditions, you acknowledge that you
have read, understood and accepted the information under the Spreads and Conditions Schedule posted on
our Online Trading Facility, in which all such Commissions and Charges (including, without limitation, spreads,
charges, Margin, interest and other fees) are explained.
We reserve the right to amend, alter, modify, delete or add to any of these Commissions and Charges at any
time and at our sole discretion. When these Commissions and Charges are modified (hereinafter to as“Changes”) we will post such Changes on our Online Trading Facility and/or otherwise notify you of such
Changes, each such notification of which shall be deemed as sufficient notice and it is your duty to consult
and/or to check regularly the information posted under the Spreads and Conditions Schedule on our Online
Trading Facility regarding any such Changes. Therefore, you should review the Spreads and Conditions Scheduleon our Online Trading Facility from time to time so as to ensure that you will be aware of any such Changes.
Except if, and then to the extent provided otherwise in the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, all Changes shall be effective five (5) Business
Days after their initial posting on our Online Trading Facility, or as of the first time that you access and/or use
our Online Trading Facility after such amendments are made, whichever is sooner. Your continued use of ourOnline Trading Facility after the publication of any Changes shall be considered as your agreement to such
Changes and shall be governed by those Terms and Conditions, as modified. If you do not wish to be bound by
those Changes, you should cease to use our Online Trading Facility, and inform us in writing, immediately.
In the event that such Changes are to your advantage, or the grounds for such Changes are due to external
circumstances beyond our reasonable control, we are entitled to modify such Commissions and Charges withimmediate effect, without the need to give prior notice. Such circumstances may include, without limitation:(a) Changes in the relationship with our counterparties, which affect our cost structures; (b) Changes incommissions and charges from exchanges, clearing houses, information providers or other third party
providers that are passed on by us to you.
OTHER FEES AND CHARGESIn addition to the Commissions, Fees and Charges mentioned above, you shall be responsible for the paymentof any other fees and charges that may be incurred as a result of the provision of our Services to you, including,
without limitation, all applicable VAT (if any) and other duties and/or taxes, and all other fees incurred by us inconnection with any Transaction and/or Contract and/or in connection with maintaining a client relationshipwith you.
In particular, we shall be entitled to demand that the following fees and/or expenses are paid separately byyou:

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

68all extraordinary disbursements resulting from our client relationship e.g. telephone, telefax, courier, andpostal expenses in the event that you request hardcopy Settlement/Trade Confirmations, Account Statements
etc. which we could have delivered in electronic form; (b) any expenses we may incur, caused by nonperformance by you, including a fee determined by us in relation to forwarding of reminders, legal assistanceetc.; (c) any expenses we may incur in connection with replies to inquiries by public authorities, including,
without limitation, a fee determined by us in relation to forwarding of transcripts and enclosures and for the
preparation of copies; (d) administration fees in connection with Security deposits, and any expenses we may
incur in relation to a pledge, if provided, including any insurance premium payments; and (e) any expenses wemay incur in connection with auditor’s comments/reports if such is requested by you. Any such fees and/or
expenses will be charged either as a fixed amount corresponding to payments effected, or as a percentage orhourly rate corresponding to the service performed. The methods of calculation may be combined. We reserve
the right to introduce new fees at any time, at our sole discretion.
In addition, we (and/or our Associates, Business Introducers or other third parties) may share and/or benefit
from commission, mark-up, mark-down or any other remuneration in respect of any Transactions and/or
Contracts entered into by us and/or in respect of any Transactions and/or Contracts carried out on your behalf.
Details of any such remuneration or sharing arrangement will not be set out on the relevant Settlement/Trade
Confirmations. We may (but shall not in any circumstances be obliged), upon reasonable request, to the extent
possible and at our sole discretion, to disclose to you the amount of any such commission, mark-up, markdown or any other remuneration paid by us to any Associate, Business Introducer or other third party.
In the event that you instruct us to transfer open positions, moneys, and/or other Assets relating to yourAccount to another institution, you agree to pay us a transfer fee, as determined by us at our sole discretion.
PAYMENT TERMS
Unless determined and stated otherwise "in the terms agreed upon by mutual consent of the Parties, allCommissions and Charges and other fees and charges shall be regarded as being due and payable immediately.
Unless specified otherwise in these Terms and Conditions, any sums due to us pursuant to these Terms andConditions may be deducted by us from the proceeds of any transaction or debited from your Account(s) withus. In the event of late payment by you, overdue amounts shall bear interest at a rate that we shall reasonably
determine.
Unless specified otherwise in these Terms and Conditions, all amounts due to us (or to any Agents used by us)
under these Terms and Conditions shall, at our sole discretion: (a) be deducted from any funds held by us foryou; or (b) be paid by you in accordance with the provisions of the relevant difference account,
Settlement/Trade Confirmation or other advice.
CURRENCY CONVERSION
If we receive or recover any amount in respect of any of your obligations in a currency other than that in whichsuch amount is payable, whether pursuant to a judgment of any court or otherwise, you will indemnify us andhold us harmless from and against any cost (including costs of conversion) and loss suffered by us as a resultof receiving such amount in a currency other than the currency in which it is due.
We shall be entitled, but shall not in any circumstances be obliged, to convert:
any realised gains, losses, option premiums, commissions, interest charges and brokerage fees which arise ina currency other than your Base Currency (i.e. the currency in which your Account with us is denominated) toyour Base Currency;

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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any cash currency deposit to another cash currency deposit for the purpose of purchasing an asset denominated in a currency other than your Base Currency;
any monies held by us for you into such other currency as we consider necessary or desirable to cover yourobligations and liabilities in that currency.
Whenever we conduct such a currency conversion, we will do so at such reasonable rate of exchange as we
select. We shall be entitled to add a mark-up to the exchange rates. The prevailing mark-up will be defined in
the Spreads and Conditions Schedule on our Online Trading Facility.
MORATORY INTEREST
Any amount due and payable under these Terms and Conditions, which is not paid on the due date, shall betreated as an unpaid such amount and bear interest, at the average rate at which overnight deposits in thecurrency of such payment are offered by major banks in the London interbank market as of 11.00 am (Londontime) (or, if no such rate is available, at such reasonable rate as we may select) plus one three per cent (3%)
per annum for each day for which such amount remains unpaid.
PRICING OF OTC TRANSACTIONSIn respect of any Transactions to be effected OTC, we shall be entitled to provide Price Quotes at which we willbe allowed to trade. Save where we exercise any rights we may have under these Terms and Conditions toclose a Transaction and/or Contract, it is your sole responsibility to decide whether or not you wish to enter
into such a Transaction and/or Contract at such prices.
ABUSIVE TRADING STRATEGIES & PROHIBITED TRADING TECHNIQUES
Abusive Trading Strategies: Internet, connectivity delays, and errors sometimes create a situation where theprice displayed on our Online Trading Facility does not accurately reflect the market rates. We do not permit
the deliberate practice of gaming and/or use of abusive trading practices on our Online Trading Facility.
Transactions that rely on price latency opportunities may be revoked, without prior notice. We reserve theright to make the necessary corrections or adjustments on the Account involved, without prior notice.
Accounts that rely on gaming and/or abusive strategies may, at our sole discretion, be subject to intervention
by us and our approval of any Orders. Any dispute arising from such quoting or execution errors will be resolved
by our management in its sole and absolute discretion.
Abusive Trading Activities: The Company, at its discretion, reserves the right to nullify all trading bonuses
previously credited to the Client's eligible trading account(s) and cancel any related transactions, profits, orlosses if there is any indication or suspicion of arbitrage, abusive or improper trading, attempted fraud,
manipulation, cash-back arbitrage linked to a trading bonus, or utilization of trading techniques demonstrating
compounded gains on single or multiple trading pairs (directional trading) or any other form of deceitful or
fraudulent activity. This includes, but is not limited to, detecting trading patterns suggesting that the participant
is solely seeking financial gain from the credit trading bonus without a genuine interest in market trading and/or
taking market risks. Additionally, the Company retains the authority to exclude the Client from any ongoing
and/or future bonuses and promotions offered by the Company. Additionally, any rebates, cashbacks, orcommissions generated from such suspicious trading behaviors for both the client and its introducing partner
shall be considered void and null.
In the situations outlined above, the Company holds the exclusive right to:a) Restrict access to all of the Client's active trading accounts;b) Deactivate all of the Client's live trading accounts;c) Revoke placed orders;d) Invalidate any accrued profits.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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The Company is not responsible for any repercussions resulting from the cancellation, alteration, or suspensionof the promotion, including but not limited to the closure of orders due to a stop-out.
The Company reserves the right to assess and determine the legitimacy of trading activities based on thesecriteria. Should any client's trading behavior fall under suspicion according to these outlined factors, theCompany holds the authority to nullify any associated profits gained through such means while permitting theclient to continue trading without utilizing Bonuses.
The Company retains the right to modify, extend, or update this paragraph at any time without priornotification or consent to ensure the integrity of trading practices and adherence to fair-use policies.
Circumvention & Reverse Engineering: You shall not unlawfully access or attempt to gain access, reverse
engineer or otherwise circumvent any security measures that we have applied to our Online Trading Facility
and/or computer system(s). If, at our sole discretion, we were to determine that you are in breach of thisSection, we reserve the right to take all action as we see fit, including, without limitation, completely blocking
access to our Online Trading Facility, blocking and/or revoking your Access Codes and/or terminating yourAccount. Under these circumstances, we reserve the right to seize any profits and/or revenues generated
directly or indirectly by exercising any such prohibit trading activity and we shall be entitled to inform any
Interested third parties of your breach of this Section; we have, and will continue to develop any tools
necessary to identify fraudulent and/or unlawful access and use of our Online Trading Facility; any disputearising from such fraudulent and/or or unlawful trading activity will be resolved by us in our sole andabsolute discretion, in the manner we deem to be the fairest to all concerned; that decision shall be final
and/or binding on all participants; no correspondence will be entered into.
Artificial Intelligence Software: It is absolutely prohibited to use any software, which we may determine, at
our sole discretion, to have as its purpose to apply any kind of artificial intelligence analysis to our Online
Trading Facility and/or computer system(s) relating to the use of our Services, without our prior writtenconsent; in the event that we determine, at our own discretion, that any such artificial intelligence software
has been used, or is being used, without our prior written consent, we reserve the right to take all action as
we see fit, including, without limitation, completely blocking access to our Online Trading Facility, blocking
and/or revoking your Access Codes and/or terminating your Account. Under these circumstances, we reserve
the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibit
trading activity and we shall be entitled to inform any Interested third parties of your breach of this Section wehave, and will continue to develop any tools necessary to identify fraudulent and/or unlawful access anduse of our Online Trading Facility; any dispute arising from such fraudulent and/or or unlawful trading
activity will be resolved by us in our sole and absolute discretion, in the manner we deem to be the fairest
to all concerned; that decision shall be final and/or binding on all participants; no correspondence will beentered into.
Changes in Market Conditions: Please note that we shall have no obligation to contact you to advise upon
appropriate action in light of changes in Market Conditions (including, without limitation, Market Disruptions)or otherwise. You acknowledge that the Over-The-Counter Market in leveraged Financial Instruments is highly
speculative and volatile and that, following execution of any transaction, you are solely responsible for making

and maintaining contact with us and for monitoring open positions and ensuring that any further instructions
are given on a timely basis. In the event of any failure to do so, we can give no assurance that it will be possible
for us to contact you and we accept no liability for loss alleged to be suffered as a result of any failure by you
to do so.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Indemnification: Without prejudice to any other provisions of the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, you agree to indemnify us and hold us,
our Affiliates and any of our Associates, harmless from and against any and all liabilities, losses, damages, costs
and expenses, including, without limitation, legal fees and expenses incurred in connection with and/or directly
or indirectly related with, any fraudulent and/or unlawful access and use by you of our Online Trading Facility
and/or the prevention and/or remediation thereof, provided that any such liabilities, losses, damages, costs
and expenses would not have not arisen, but for our gross negligence, fraud or wilful default.
Toxic Trading Activity: Without prejudice to any and/or all provisions of the Agreement and/or any agreements
by and between us, including, without limitation, these Terms and Conditions, in the event that the Liquidity
Providers, with which the Company maintains business relationship, identify and/or classified your trading flow
as toxic, the Company reserves its legal right to make spread adjustments on the account involved, without
prior notice. Adjustments can include the widening of the spreads on the Online Trading Facility, and/or
cancellation of all abusive transactions.
MARKET ABUSE
When we execute a Transaction on your behalf, we may place your Order to buy or sell the relevant Financial
Instrument on securities exchanges or directly with certain financial institutions. The result is that when you
place Orders through or with us, your Transactions could have an impact on the external market for that
instrument in addition to the impact it might have on the prices we are quoting. This may create a possibilityof market abuse and the purpose of this Section is to prevent such abuse.
You represent and warrant to us at the time you enter into these Terms and Conditions and every time youenter into a Transaction or give us any other instruction that:• you will not place, and you have not placed, a Transaction through or with us, if to do so would resultin you or others with whom you are acting in concert having an interest in the price of the Financial
Instrument, which is equal to or exceeds the amount of a declarable interest in the instrument;• you will not place, and you have not placed, a Transaction in connection with:a. a placing, issue, distribution or other similar event;b. an offer, takeover, merger or other similar event; orc. any corporate finance activity,• you will not place, and you have not placed, a Transaction that contravenes any law or regulationprohibiting insider dealing, market manipulation or any other form of market abuse or market
misconduct.
• You will at all times act in accordance with all Applicable Laws, Rules and Regulations.
In the event that you place any Transaction or otherwise act in breach of the representations and warranties
given in this Section or any other Section of these Terms and Conditions or we have reasonable grounds forbelieving that you have done so, in addition to any rights we may have under these Terms and Conditions,
we may:1. enforce the Transaction(s) against you if it is a Transaction(s), which results in you owing money to us;
and/or
2. treat all of your Transactions as void if they are Transactions, which result in us owing money to you,unless and until you produce conclusive evidence within thirty (30) calendar days of our request forevidence that you have not in fact committed any breach of warranty, misrepresentation orundertaking under these Terms and Conditions.
3. You acknowledge and agree that it would be improper for you to deal in a Financial Instrument if thesole purpose of such a transaction was to manipulate the price we quote, and you agree not to conduct
any such transactions.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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4. We are entitled (and in some cases required) to report to any relevant regulatory authority details of
any Transaction or instruction. You may also be required to make appropriate disclosures and you
undertake that you will do so where so required.
CHAPTER H: YOUR ACCOUNT(S) WITH USACCOUNT(S)For the purpose of our Services and the transactions described herein, subject to the Terms and Conditions set
forth herein, we will facilitate the opening and operation of one or more accounts for you on our Online Trading
Facility, to be denominated in a currency determined by you, in which all Transactions and/or Contracts enteredinto by you via our Online Trading Facility will be recorded (your “Account(s)”).
The Account(s) and other relevant details shall be in accordance with the information provided by you, as shallbe required by us from time to time. You must ensure that the information provided by yourself is complete,true and accurate. It is hereby clarified that the provision of misleading information may be regarded as an
offence and shall entail immediate cessation of activities in your Account(s) or its immediate closure. You
acknowledge that upon the completion of your identification process by us, we may report you as a beneficiaryin the applicable segregated account held by the financial institution with which we deposit all Collateral funds
received by us (see further below), in amounts up to the credit balance recorded in your Account(s) on our
Online Trading Facility from time to time, and that, for these purposes, we may transfer identification details
provided to us by yourself.
BASE CURRENCY
You shall designate a base currency for each of your Accounts on our Online Trading Facility, which shall be US
Dollars, or any other currency determined and/or stated in advance "in the terms agreed upon by mutual
consent of the Parties" ("Base Currency").
All payments from you to your Account(s) on our Online Trading Facility will be made on your request in theBase Currency of the Account. No instructions to pay a third party from your Account(s) will be accepted by us,
unless otherwise determined and/or stated in advance "in the terms agreed upon by mutual consent of theParties".
ACCESS CODES (USERNAME AND PASSWORDS)
In order to allow you to access and use our Online Trading Facility, we will provide you for each Account with aunique username and password that will allow you; (a) to access and use our Online Trading Facility; (b) toaccess and use your Account(s) for the purpose of evaluating real-time evaluations of your open trading
positions and consulting and/or reviewing historical transactional and account data; and (c) to access and use
your Account(s) for the purpose of entering into Transactions and/or Contracts and place trades related toTransactions and/or Contracts via our Online Trading Facility. The logins and passwords will continue to be inforce unless terminated by either of us. We may provide replacement logins and passwords, at any time as we
think fit. You may access your Account(s) on our Online Trading Facility only through one or more of theselogins and passwords or other access methods provided by us, or as otherwise determined and stated "in theterms agreed upon by mutual consent of the Parties" (“Access Codes”).
In relation to any of your Access Codes, you acknowledge and undertake that: (a) you will be responsible forthe confidentiality and use of your Access Codes; (b) other than with our prior written consent, you will notdisclose any of your Access Codes to other Persons for any purpose whatsoever; (c) we may rely on all
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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instructions, Orders and other communications entered using any of your Access Codes, and you will be boundby any transaction entered into or expense incurred on your behalf in reliance on such instructions, Orders andother communications; and (d) you will immediately notify us at our customer support desk if you becomeaware of the loss, theft or disclosure to any third party or of any unauthorized use of your Access Code(s).
In particular, it shall be your sole responsibility to monitor and restrict access to your Account(s) and you shallbe solely responsible for ensuring that your Access Codes are known to, and used by, only those users and/or
customers, which you expressly authorize and recognize. Notwithstanding anything to the contrary in theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, you shall be responsible for the actions of any Persons, authorized or unauthorized, who gain
access to and/or make use of your Account on our Online Trading Facility through your Access Codes, and you
shall be bound to clear and settle all Transactions and/or Contracts executed and effected via our Online Trading
Facility through your Access Codes.
In the event that your Access Codes have been lost, stolen or compromised, you will promptly notify us thereofin writing. Upon receipt of such notice, we will immediately terminate your Access Codes, provided, however,that you will at all times remain responsible for any actions taken through the use of your Access Codes before
they are terminated by us. Without prejudice to any of the foregoing, we shall at all times be entitled, at oursole discretion, to terminate, revoke, suspend, modify and/or change any or all of your Access Codes at any
time with or without prior notice, provided, however, that we shall endeavour (but shall not in any
circumstances be obliged) to provide you with prior notice to the extent practicable.
You will undertake your best efforts to ensure that you comply at all times with: (a) all Applicable Laws, Rules
and/or Regulations (b) the terms and conditions of this Agreement; (c) any additional terms and conditions
determined and stated "in the terms agreed upon by mutual consent of the Parties"; (e) any and all disclaimers
and additional terms and conditions presented in any part of our Online Trading Facility; and (f) any other terms
and conditions pertaining to the transactions contemplated under the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions, as from time to time in effect.
Furthermore, you are under an obligation to provide us with such information as we may request from time totime as part of our obligations to comply with applicable “Anti-Money Laundering (“AML”) & Know Your
Customer (“KYC”) Legislation” and/or with any other relevant third party, governmental entity or regulatory
agency.
You shall hold us harmless from, and indemnify us for, any sustained damages, which we may suffer from yourfailure to take adequate steps to protect the security of your Access Codes, and your failure to prevent any
Person from any unauthorized access and/or use of your Account(s) on our Online Trading Facility; you shallhold us harmless in any legal, administrative or arbitral proceedings and expenses related thereto, and you
shall indemnify us for all damages, costs and expenses arising as a result of non-compliance with this Section.

PAYMENTS
You may deposit funds into your Account(s) at any time. Deposits will only be accepted by a payment method(e.g. bank wire transfer, e-wallets etc…) in the same name as yours. UNDER NO CIRCUMSTANCES WILL THIRDPARTY OR ANONYMOUS PAYMENTS BE ACCEPTED.
Unless expressly determined and stated otherwise "in the terms agreed upon by mutual consent of the Parties",
we do not accept payments by cheque. In those instances, where we might agree, in principle, to accept
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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payment by cheque, we shall nonetheless have the right to refuse payment by cheque if any payment given
has not cleared on the first presentation of the cheque.
If you give an instruction to withdraw funds from your Account(s), we will reduce the requested funds
immediately from your Account balance and shall process the specified withdrawal request within up to five(5) Business Days once the withdrawal request has been accepted, provided that the following requirements
are met: (a) the withdrawal request includes all necessary information; (b) the instruction is to make a payment
through a payment method in your name (e.g. bank wire transfer, ewallets etc…); and (c) you have provided
full identification documentation to support your withdrawal request.
If we accept any payments to be made by a debit card, credit card or any other payment method in respect ofwhich processing fees may be charged, we reserve the right to levy a transfer charge.
If you make a payment/deposit, we shall, without prejudice to any other provisions of the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, credit yourAccount(s) with the amount of such payment within up to five (5) Business Days once the deposit has been
accepted, if we are satisfied that you are the sender of the funds. If we are not satisfied that you are the senderof the funds deposited in your Account(s), we reserve the right to reject such funds and return them to theremitter net of any transfer fees or other charges. You may be required to submit additional documentation as
required by applicable “Anti-Money Laundering (“AML”) & Know Your Customer (“KYC”) Legislation” and/or
any other similar rules and regulations applicable to us.
We shall be entitled, but shall not in any circumstances be obliged, without prior notice to you, to convert: (a)any realized gains, losses, option premiums, commissions, interest charges and brokerage fees which arise in acurrency other than the Base Currency of your Account(s) (i.e. the currency in which your Account(s) with us isdenominated) to the Base Currency of your Account(s); (b) any cash currency deposit to another cash currency
deposit for the purpose of purchasing a Financial Instrument or asset denominated in a currency other thanthe Base Currency of your Account(s); (c) any monies deposited with us or held by us on your behalf into suchother currency as we consider necessary or desirable, at our sole discretion, to cover your obligations andliabilities in that currency; whenever we conducts such currency conversions, we will do so at such reasonable
rate of exchange as we select, at our sole discretion; under these circumstances, we shall be entitled to add amark-up to the exchange rates; any such prevailing mark-up (if any) shall be posted on our Online Trading
Facility in the ‘Commission, Charges & Margin Schedule’.
All foreign currency exchange risk arising from any deposits in and/or withdrawals from your Account(s), or
resulting from the compliance by us with our obligations or the exercise by us of our rights under these Terms
and Conditions, will be borne by you.
We shall not be obliged to shall not be liable: (a) to pay interest to you on any credit balance(s) in any Account(s)or on any other funds you deposit with us or which we are holding on your behalf ; or (b) account to you forany interest received by us, or in respect of which we are the beneficiary, in connection with any funds you
deposit with us or which we are holding on your behalf, or in connection with any Contract and/or Transactions;
you consent to waive all rights to such interest and you acknowledge and agree that we will be the beneficiaryof all such interest.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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SEVERAL/MULTIPLE TRADING ACCOUNTSIn the event that you have more than one Account with us, we reserve the right to treat all such Accounts as if
they were under one Account and to limit the number of Accounts maintained by a single household, at oursole discretion.
In the event that you operate several Accounts (or sub-accounts) and opposite positions are opened on
different Accounts (or sub-accounts), we shall not close out such positions. You are specifically made aware,
however, that, unless closed manually, all such positions may be rolled over on a continuous basis and thereby
consequently all Accounts may incur a cost for such roll-over.
DEPOSITS, REFUNDS AND WITHDRAWALS
Deposits
We reserve the right to impose deposit limits and deposit fees in our Online Trading Facility, at any time.
You agree that any funds transmitted to our bank accounts by you or, where permitted, on your behalf, will bedeposited into your Account(s) with us at the value date of when the received by us and net of any charges/fees
charged by the bank account providers, our payment service providers and/or any other intermediary involvedin such transaction process.
Before accepting any such funds into our bank accounts and/or making any such funds available to into yourAccount(s) with us, we must be fully satisfied that you, as our client, are the sender of such funds, or that suchfunds have been transmitted to us by an authorized representative of you, as our client; in those instanceswhere we are not satisfied that you, as our client, are the sender of such funds, or that such funds have beentransmitted to us by an authorized representative of you, as our client, we reserve the right to refund/sendback the net amount received to the same remitter from, and by the same payment method through whichsuch funds were received.
Refunds and Withdrawals
We reserve the right to impose withdrawal limits and withdrawal fees in our Online Trading Facility, at any time.
Upon submitting a withdrawal request you may be required to submit documentation as required by applicable“Anti-Money Laundering (“AML”) & Know Your Customer (“KYC”) Legislation” and/or any other similar rules
and regulations applicable to us.
When a withdrawal or refund is performed, we reserve the right (but shall under no circumstances be obliged)
to remit the funds to the same remitter from, and by the same payment method through which such funds
were initially received by us. In that connection, we reserve the right, at our sole discretion, (a) to decline
withdrawals via certain specific payment methods; (b) to require another payment method as the one indicatedin any withdrawal request, in which instance a new withdrawal request may have to be submitted; and/or (c)to require that further documentation be submitted, as required by applicable “Anti-Money Laundering(“AML”) & Know Your Customer (“KYC”) Legislation” and/or any other similar rules and regulations applicable
to us, before proceeding with any withdrawal request.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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If we are unable to remit the funds, or any partial amount thereof, to the same remitter from, and by the same
payment method through which such funds were initially received by us, we reserve the right (but shall underno circumstances be obliged) to transmit the funds via an alternative payment method selected by us, at oursole discretion, in United States Dollars (regardless of the currency in which the initial deposit was made).
Under these circumstances, we shall not be responsible for any transfer fees or charges charged by the receiver
and/or for any currency exchange rates resulting from the payment of such amount in United States Dollars.
Withdrawal requests that are accepted and approved by us in accordance with the terms of the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions, are, in
principle, processed within one Business Days following the receipt of the transfer request instructions. The
amount to be transferred will reduce the balance of the relevant Account(s) from which such transfer is to be
made, when the transfer request process is concluded. We reserve the right (a) to decline a withdrawal request
if the request is not in accordance with the provisions of this Section, or (b) to delay the processing of therequest if we are not satisfied with the ancillary documentation submitted with the withdrawal request.
You agree to pay any bank transfer fees incurred when you are withdrawing funds from your Account(s) or
when funds are refunded by us to your designated bank account. You are solely responsible for the payments
details you are providing us with and we do not accept any responsibility for your funds, if the payment details
you have provided to us are incorrect or incomplete. It is also understood that we do not accept any
responsibility for any funds that are not directly deposited into our bank accounts.
Profits may only be paid to the initiator of an Account and to an account with a financial institution under his
own name and not to any third party’s account. When you maintain an Account with us by means oftelegraphic/wire deposits, profits are only paid to the holder of the originating (bank) account, and it is youronus to ensure that the account number and name accompany all transfers to us. When you maintain an
Account by means of credit/debit card deposits, profits are returned to the same credit/debit card up to thevalue of the collateral deposited via the credit/debit card. Additional profits exceeding the value of thecollateral deposited via the credit/debit card will be transferred by means of telegraphic/wire deposits subject
to the conditions described above.
DEPOSITS BY CREDIT/DEBIT CARD
You can deposit funds to your Account(s) with us quickly and easily by credit or debit card. The entire
transaction is processed electronically - online.
Before you can use your credit card, you will need to register it with us. The credit card registration process isclearly explained on the Credit Card Deposit screen displayed on our Online Trading Facility.
Upon submitting your credit card registration, you may be required to submit documentation as required byapplicable “Anti - Money Laundering (“AML”) & Know Your Customer (“KYC”) Legislation” and/or any othersimilar rules and regulations applicable to us. Once your credit card has been successfully registered, you canstart depositing funds into your Account(s) by credit card.
Registering and using your debit card is the same as using a credit card. The following information must match:the mailing address you provided upon your account registration must match your credit/debit card
statement's billing address; and, your full name must match the name on the credit/debit card; DO NOT USE
INITIALS OR NICKNAMES IN ANY ACCOUNT.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Please note that it is a serious criminal offence to provide false or inaccurate information during yourcredit/debit card registration. At the very least, you may be prevented from accessing our Online Trading
Facility via your current and future Accounts with us. Furthermore, in the event that we suspect or determine,at our sole discretion, that the information you provided during your credit/debit card registration is false orincorrect, we reserve the right, at our sole discretion, to take all action as we see fit, including, without
limitation, completely blocking access to our Online Trading Facility, blocking and/or revoking your Access
Codes and/or terminating your Account(s) with us. Under these circumstances, we reserve the right to seize
any profits and/or revenues generated directly or indirectly by exercising any such prohibit trading activity andwe shall be entitled to inform any Interested third parties of your breach of this Section; any active Orders
associated with the same fraudulent credit card and/or Account(s) will also be cancelled immediately; wehave, and will continue to develop any tools necessary to identify credit/debit card fraud; any dispute arisingfrom such fraudulent activity will be resolved by us in our sole and absolute discretion, in the manner wedeem to be the fairest to all concerned; that decision shall be final and/or binding on all participants; nocorrespondence will be entered into.
Before accepting any credit card deposits and/or making any such credit card deposits available into yourAccount(s) with us, we must be fully satisfied that you are the legitimate owner/user of the credit card used
and that it is you, as the legitimate owner/user of the credit card, who is making and/or authorizing the depositby credit card; in those instances where we are not satisfied that you are the legitimate owner/user of thecredit card used and that it is you, as the legitimate owner/user of the credit card, who is making and/or
authorizing the deposit by credit card, we reserve the right to refuse the credit card deposit(s) in question andto refund/send back the net amount deposited to the same credit card account and via the same payment
method through which such deposit(s) was/were made. Fraudulent transactions are immediately cancelled
after being detected. Furthermore, in such instances, we reserve the right, at our sole discretion, to take all
action as we see fit, including, without limitation, completely blocking access to our Online Trading Facility,
blocking and/or revoking your Access Codes and/or terminating your Account(s). Under these circumstances,
we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any suchprohibit trading activity and we shall be entitled to inform any Interested third parties of your breach of thisSection; any active Orders associated with the same fraudulent credit card and/or Account will also becancelled immediately; we have, and will continue to develop any tools necessary to identify credit/debitcard fraud; any dispute arising from such fraudulent activity will be resolved by us in our sole and absolute
discretion, in the manner we deem to be the fairest to all concerned; that decision shall be final and/or
binding on all participants; no correspondence will be entered into.
We reserve the right, at our sole discretion, to impose such deposit limits and restrictions, as we deem fit.
Current deposit limits and restrictions are displayed on the Credit/Debit Card Deposit screen displayed on our
Online Trading Facility. If you would like to increase your credit/debit card deposit limit, please contact ourCustomer Support team as follows:
Customer Support
Working hours: 24/5
E-mail: support@ttcm.com
Please include your name, Account number, mailing address, e-mail address and telephone number.
Credit/debit card transactions are generally processed within minutes of being requested. The deposited funds
are available for use immediately. We do not charge any fees for using this service. If we accept any payments
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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to be made by a debit card, credit card or any other payment method that may charge processing fees, we do,
however, reserve the right to levy a transfer charge. All transactions should be listed as purchases on yourcredit/debit card statement. You may wish to contact your credit/debit card company to ask if there are any
fees on their side in processing these transactions.
For credit/debit cards, we provide you with the option of paying in your own currency. We provide acompetitive exchange rate, presented upfront in the payment method interface. Should you choose to pursue
this service, the transaction will be processed on your payment method immediately using the exchange rate
provided. In case you would like the payment provider to perform the currency exchange for you, thetransaction will be posted to your card when processed by your issuing bank while the exchange rate and any
additional fees will be determined by your issuing bank.
If you plan to use more than one credit/debit card to deposit funds into your Account(s), you must ensure thatyour Account(s) has/have a zero balance before changing cards. You can do this by using any remaining funds
within the Account(s) or withdrawing any remaining funds to the original credit card. Before you can use anyother credit card, you will need to register it with us in accordance with the procedures described hereinabove.
It is important to keep a record of all of your credit/debit card deposits. To help you maintain these records you
should be aware that your credit/debit card deposits are recorded and reported on your credit/debit card
statement
We are committed to continuing to provide the highest level of security for our customers when depositing
money on-line. A new initiative has been put into place by MasterCard and Visa to further protect on-line
transactions called MasterCard SecureCode and Verified by Visa. These both work in a similar way and protect
the card holder with a secret code/password against unauthorized use of your card when you deposit money
online. Please click one of the links below to visit the MasterCard or Visa websites for full information.
MasterCard SecureCode
Verified by Visa
If your card qualifies for either MasterCard SecureCode or Verified by Visa, you may be prompted to either
register or enter your security details at the Credit Card Deposit screen displayed on our Online Trading Facility
and follow the instructions posted thereon.
CHARGEBACKS
If you place a chargeback with your credit card company (on purpose or by mistake) for any deposit you madein your Account(s) with us, there will be a “USD 150,- research fee” charged to your Account(s) upon receiving
the chargeback by our merchant provider to cover our investigative expenses to prove that you did make thedeposit, and you hereby authorize us to charge this amount to your credit card.
We do not tolerate credit card fraud, and all fraud, without exception, will be prosecuted through criminal
proceedings in your local jurisdiction to the fullest extent of the law. In addition, we will pursue civil legal action
in your local jurisdiction seeking any loss of income related to the fraud, including business, legal fees, researchcosts, employee down time and loss of revenues.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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We employ advanced risk modelling to detect fraudulent transaction clues across our Services. Fraudulent
transactions are immediately cancelled after being detected. Any active Orders associated with the same
fraudulent credit card(s) will also be cancelled immediately. We also actively leverage external, cross-industry
resources -- such as worldwide fraud blacklists -- to prevent fraudulent users from accessing our Online Trading
Facility in the first place.
We consider credit card charge backs to be fraudulent if you make no reasonable effort to work with us toresolve any problems with your deposit. All frivolous chargebacks not only cost our employees time away fromour usual and customary matters of conducting normal business, but also cost us money, therefore: when we
detect questionable activity related to a deposit that is being made in an Account, we will mark the depositwith a “customer review in progress” status and perform fraud detection checks on the deposit to reduce yourexposure to risk; during this time, you won't be able to access your Account(s).
In general, we complete reviews within four (4) to six (6) hours; certain deposits posing a higher potential risk
may require more time, however, as our Compliance Department performs even more extensive fraud
detection checks. We may also contact you directly as a backup precaution. If we determine that a deposit ishigh-risk or doesn't comply with our Fraud & Security Policies, the deposit will immediately be cancelled andthe funds will immediately be refunded to the credit card from which the deposit was initially made.
Furthermore, in such instances, we reserve the right, at our sole discretion, to close any and all of yourAccount(s) with us immediately. Any active Orders associated with the same fraudulent credit card(s) and/or
Account(s) will also be cancelled immediately.
You agree that if you choose to do business with us and you file a charge back with your credit card company,
but you do not win the charge back argument, you agree to pay us, in addition to the “USD 150,- research fee
mentioned above, a “USD 150,- administrative processing fee” for our time responding to the matter. You
hereby authorize us to charge this amount to your credit card. If this charge is rejected, we will pursue legal
action to recoup losses for our time associated with responding to the charge back in addition to any otherfees explained above. You agree to reimburse us or any Representative we may appoint for any legal expenses
your actions may make us incur.
In addition, we will attempt to recover fraudulently disputed charges plus additional costs via a third-party
collection agency and your account will be reported to all credit bureaus as a delinquent collection account.
This may severely damage your credit rating for at least the next seven (7) years. At this point, we will no longer
accept a settlement of your debt and will only accept payment in full. In addition to this, we will file a reportwith your local police department, and pursue all fraudulent activities through your local jurisdiction forprosecution to the fullest extent of the law. Furthermore, in such instances, we reserve the right, at our sole
discretion, to take all action as we see fit, including, without limitation, completely blocking access to our
Online Trading Facility, blocking and/or revoking your Access Codes and/or terminating your Account(s).
Furthermore, under these circumstances, we reserve the right to seize any profits and/or revenues generated
directly or indirectly by exercising any such prohibit trading activity and we shall be entitled to inform any
Interested third parties of your breach of this Section; any active Orders associated with the same fraudulent
credit card(s) and/or Account(s) will also be cancelled immediately; we have, and will continue to develop
any tools necessary to identify credit/debit card fraud; any dispute arising from such fraudulent activity will
be resolved by us in our sole and absolute discretion, in the manner we deem to be the fairest to allconcerned; that decision shall be final and/or binding on all participants; no correspondence will be entered
into.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

80

We take fraud very seriously. We log IP strings on all deposits made in our Accounts - any orders coming backas a chargeback due to fraudulent activities will be diligently pursued through criminal proceedings in yourlocal jurisdiction for prosecution to the fullest extent of the law.
NETTING AGREEMENT
If on any date the same amounts are payable by a Party to this Agreement to another Party to this Agreementin the same currency, then, each Party’s obligations to make payment of any such amount(s) will be
automatically satisfied by ‘netting’.
If the amounts are not in the same currency, the amounts may be converted in accordance with the principles
set forth.
If the aggregate amount that is payable by one Party exceeds the aggregate amount that is payable by the otherParty, then the Party by whom the larger aggregate amount is payable shall pay the excess to the other Party
and the obligations to make payment of each party will be satisfied and discharged.
If the client relationship is, then the claims that the Parties have against each other shall be finally discharged
by means of netting (closed). The value of any open Contracts shall be determined according to the principles
set forth below and the final amount to be paid by one of the Parties shall be the difference between thepayment obligations of the parties.
Rates based on which any such Transactions and/or Contracts shall be closed shall be the market rates
applicable on the day on which we decide to close such Transactions and/or Contracts. We may, at ourreasonable discretion, determine the rates by obtaining an offer from a market maker in the asset in question
or by applying rates from electronic financial information systems. When determining the value of any suchtransactions and/or Contracts to be netted, we shall apply our usual spreads and include all costs and othercharges.
This netting agreement shall be binding on all Parties to this Agreement and on the estate and/or creditors of
all Parties to the client relationship under this Agreement.
CLIENT MONEY
Where we classify you as a Retail Client: subject to these Terms and Conditions, we will treat money received
from you or held us on your behalf in accordance with the Client Money Rules. Client Money will be held
separate from our money under arrangements designed to ensure that Client Money is easily identified as
money belonging to customers; we may:
1. hold Client Money in bank accounts in territories that are within or outside the European Economic
Area (“EEA”). Client Money held outside the EAA may be subject to the jurisdiction of that territory
and your rights may differ accordingly. In the event of insolvency or any other equivalent failure of thatbank, your money may be handled differently from the treatment which would apply if the money washeld with a bank in the EEA; and/or
2. allow a third party, such as an exchange, a clearing house or an intermediate broker, to hold or control
Client Money where we transfer the Client Money for the purposes of a Transaction for you throughor with that party, or to meet your obligations with that party (for example, a Margin Requirement),
who may be located either inside or outside of the EEA;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

81Unless otherwise agreed in writing, you acknowledge and agree that we will NOT pay you interest on Client
Money or any other unencumbered funds. You expressly waive any entitlement to interest under the Client
Money Rules or otherwise; we are not responsible for the solvency, acts or omissions of any bank or otherthird party with which Client Money is held;
Unless you notify us beforehand and in writing, we may allow a third party, such as an exchange, a clearing
house or an intermediate broker to hold all control all or part of your Client Money, where we transfer all orpart of your Client Money: (a) for the purposes of a Transaction and/or Contract you have entered into, or are
entering into with such third party; or (b) to meet your obligations to provide Collateral or Margin for a
Transaction and/or Contract (e.g. an initial Margin requirement for a derivative Transaction);
you hereby authorize us to make any deposits and withdrawals from your Account(s) with us on your behalf,
including, without limitation and prejudice to the generality of the above, withdrawals for the settlement of all
Transactions undertaken and/or Contacts entered into under these Terms and Conditions, as well as for thesettlement of any and all amounts which are payable by you, or on your behalf, to us or any other Person under
and/or pursuant to these Terms and Conditions.
Unless otherwise determined and stated "in the terms agreed upon by mutual consent of the Parties",
any amount payable by us to you, shall be paid directly to you and not to any other Person, except in thoseinstances where this has been agreed upon by mutual consent of the Parties;
Without prejudice to any other provisions of these Terms and Conditions, we may, at our sole discretion, fromtime to time and without your prior authorization, set-off any amounts held on your behalf against yourobligations to us and/or merge any of your Accounts with us;
You are entitled to withdraw any funds which are not used for Margin covering, free from any obligations (“Free
Margin”) from your Account with us, without closing your Account.
On occasion, we will receive deposits or payments into our client money account(s) that it cannot allocate toany particular customer following reasonable attempts to do so. This may occur (in addition to other reasons)
where customers transfer monies to us for deposit but fail to follow stated procedures or include relevant
account references. Where this occurs, we will hold the money in a suspense account and make reasonable
efforts to determine who the money belongs to. If we cannot allocate the money after a reasonable period oftime, it will attempt to return the money to the bank or source of transfer. Where the bank or source of transfer
refuses to accept the money on return, we will donate the money to a charity of our choice without liability toyou. You are therefore urged to follow stated deposit procedures and review your Account when transferring
funds to us to ensure all monies are appropriately allocated.
CLIENT ASSETS
You agree that we will act as custodian of your assets which it may from time to time safeguard and administer
under the Terms. Subject to the Terms, we will treat assets received from you or held by us on your behalf inaccordance with the Client Asset Rules. Client assets will be held separate from our assets under arrangements
designed to ensure that Client assets are easily identified as assets belonging to customers.
We shall open one or more custody accounts in the name of our general customer population, recording any
shares, stocks, debentures, bonds, securities, or other similar property (including evidence of or title to
Securities and all rights in respect of Securities) deposited or transferred by you or on your behalf with or to us
or our sub-custodian or collected by us or our sub-custodians for your Account (hereinafter, “Custody Assets”).
We reserve, at all times, the right to reverse any provisional or erroneous entries (including reversals necessary
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

82

to reflect adjustments by our sub-custodian to our records as a result of bad deliveries) to the custody accounts
with effect back-valued to the date upon which the final or correct entry (or no entry) should have been made.
Custody Assets, which are in registerable form, may be registered in your name or in the name of our Nominee.
You agree that registerable Custody Assets may also be registered in the name of a third party or in our name,but only if the particular Custody Asset is subject to the law or market practice of an overseas jurisdiction anddue to the nature of the law or market practice of that overseas jurisdiction, it is in your best interests or it is
not feasible to do otherwise.
We may from time to time delegate to sub-custodians, nominees, agents, depositories, clearing houses andclearing systems inside or outside of the United Kingdom and which may include Associated Companies any ofour duties under these custody terms including (without limitation) the safekeeping of the Custody Assets(together “Third Parties”). We will not be responsible for the solvency, acts or omissions of any Third Party withwhich the Custody Assets are held except where we have acted negligently, fraudulently or in wilful default in
relation to the appointment of the Third Party. Consequently, if the Third Party becomes insolvent, there may
be some risk to your Custody Assets.
We may use a Third Party in a country which is not an EEA state and where the holding and safekeeping offinancial instruments are not regulated. We will only do so when the nature of the financial instruments or of
the other services provided to you requires them to be deposited with such a Third Party.
Your Custody Assets may be held overseas by a Third Party on our behalf. Furthermore:••

your Custody Assets may be held in a pooled account by the Third Party, and there is a risk that your
Custody Assets could be withdrawn or used to meet obligations of other customers, or that the balanceof assets held by the Third Party does not reconcile with the quantity which the Third Party is required
to hold, and you may not in such circumstances receive your full entitlement of Custody Assets;
in some jurisdictions, it may not be possible to identify separately the Custody Assets which a Third
party holds for customers from those which it holds for itself or for us, and there is a risk that your
Custody Assets could be withdrawn or used to meet the obligations of the Third Party, or lost altogether
if the Third Party becomes insolvent; and legal and regulatory requirements may be different fromthose applying in the United Kingdom particularly where an account containing your Custody Assets is
subject to the laws of a non-EEA jurisdiction.

You acknowledge and agree that a depositary may have a lien, right of retention, right of set-off or sale, and/or
other security interests over your Custody Assets based on properly incurred charges and liabilities arising fromthe provision of custody services by the depositary to us and in respect of Custody Assets held by the depository
on behalf of you or our customers.
DORMANT ACCOUNTSIn the event that there is no trading activity in your Account(s) for a period of at least six (6) months, we will
regard your Account(s) to be dormant. An Account shall be deemed as dormant from the last day of the sixth(6th) month in which there has been no trading activity in the Account.
The Company may charge an Inactivity Fee for maintenance and administration of such account. The Company
reserves the right to charge the amount of twenty-five (25) USD (or equivalent currency) as an inactivity fee,every month thereafter. The Inactivity fee will continue to be charged monthly as long as the account remains
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

83inactive. The Inactivity Fee will be charged separately on each of his/her Inactive accounts. If the balance of an
Inactivity Fee is less than twenty-five (25) USD (or equivalent currency), the Inactivity Fee for such an accountshall be equal to the amount of the remaining balance. The Company may not send any notification prior to
charging the above fees. It is the client’s responsibility to monitor the status of his/ her account(s) and toproceed with any actions as deemed necessary. We reserve the right to change the six (6) month inactivity
period as we deem appropriate. We shall not be obligated to refund any dormant Account administration fees
deducted from your Account prior to such log-on and trading activity. Dormant Accounts with a zero freebalance will be closed automatically.
MULTIPLE (JOINT) ACCOUNT HOLDERS
We offer the possibility to open Accounts with us that are operated by multiple (joint) Account holders. In theevent that such a request is filed with us, you will be asked to indicate to us on your Account Opening
Application Form(s), the form of ownership of the Account, as either one of the below mentioned options:
Joint Tenants with Rights of Survivorship: In this instance, it is the express intention of the (joint) Accountholders to create an estate or account as joint tenants with rights of survivorship and not as tenants-incommon;in the event of the death of either one of the Account holders, the entire interest in this Account shall be vested
in the surviving Account holder on the same terms and conditions as previously held, without in any manner
releasing the deceased Account holder’s estate from the liabilities that are provided for hereinafter;
Tenants-In-Common: In this instance, it is the express intention of the (joint) Account holders to create an
account or estate as tenants-in-common; the percentage of ownership of each Account holder shall be as
indicated on the Account Opening Application Form(s); any taxes, costs or expenses payable as a result of thedeath of an Account holder shall, so far as possible, be deducted from the interest of the estate of the deceased
Account holder; this provision shall not release the deceased Account holder’s estate from the liabilities thatare provided for hereinafter; unless expressly stated otherwise on the Account Opening Application Form(s),each (joint) Account holder shall be deemed to have an equal share in the (joint) Account.
If an Account is jointly held by more than one Account holder, each Account holder individually shall have theauthority: (a) to trade for the account in accordance with the agreements of the Account; (b) to receive all
correspondence and documents in respect of the Account; (c) to receive or withdraw money from the Account;
to execute agreements relating to the Account; and (e) to deal with us on an individual basis with respect to all
aspects pertaining to the Account. Without prejudice to any other provisions of the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, we shall be entitled(but under no circumstances be obliged), however, at our sole discretion, to require joint action by all Accountholders in certain Account matters, without being obliged to provide any explanation or justification.
Furthermore, in those circumstances: (a) the liabilities of each such Account holder shall be joint and several;(b) we may act upon instructions received from any one Person who is, or appears to us to be, an Accountholder, without further inquiry with regard to all transactions in any way related to the Account, including
without limitation, the placement of Orders and entering into of Transactions and/or Contracts via our Online
Trading Facility, and the disposition of any or all of the assets in the Account; we shall have no responsibility or
obligation for further inquiry into such apparent authority, and shall bear no liability for the consequences ofany acts or omissions made in reliance upon any such Instructions; (c) any notice and other message presented
by us to any one Person who is, or appears to us to be, an Account holder shall be deemed to have beenpresented to all Account holders; and (d) if an Event of Default occurs in respect of any one Person who is, orappears to us to be an Account holder, such an Event of Default shall be deemed to have occurred in respectof all Account holders.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

84

In the event of the death of an Account holder, the surviving Account holder(s) shall immediately give us written
notice thereof, and provide us with proof of a death certificate and we may, before or after receiving such
notice, at our sole discretion, take such proceedings, require such papers and inheritance or estate tax waivers,
retain such portion and/or restrict transactions in the Account as we may deem advisable and/or desirable, toprotect us against any tax, liability, penalty or loss, under any present or future laws or otherwise.
In the event of the death of an Account holder, the estate of the deceased Account holder and the surviving
Account holder(s) shall continue to be liable, jointly and severally, to us for any obligations incurred prior to
our receipt of written notice of the death of the Account holder, and/or for any costs incurred by us, including
any reasonable attorney fees, in the liquidation of the Account or adjustment of the interests of the Accountholders.
ISLAMIC/SWAP-FREE ACCOUNTS
We may offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free trading accounts areavailable only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instanceswhere a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate
justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve theright to refuse the processing of any such request for any reason whatsoever, without being obliged to provide
any explanation or justification.
While a client may file a request for an Islamic (Swap-free) trading account at any time, the filing of any such
request entails that all of such client’s other real trading Accounts with us will be converted into Swap-free
trading accounts also, without any further notice being required. Conversion of a real trading Account to a
Swap-free trading account is performed by our Back-Office Department only upon the request and consent of
those clients who complete and submit a request for an Islamic (Swapfree) Account. Upon the receipt of sucha duly signed and executed request, we shall evaluate request and any ancillary documentation submitted tous and shall inform you who requested the conversion by e-mail whether the request is accepted or not.
Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request thepayment of any Swap amounts that have been lost as a result of converting their real trading Account(s) into
one or more Swap-free Account(s) for the period during which their real trading Account(s) has/have been
converted into one or more Swap-free account(s).
We reserve the right to revoke the Swap-free status granted to any real trading Account at any time without
being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form ofabuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity
in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect,
to revoke the Swap-free status from any and all real trading Accounts of such client that have been converted
to a Swap-free trading Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued
interest expenses and or costs pertaining to any and all of such client’s Swap-free trading Accounts during theperiod for which such Accounts were converted into Swap-free trading Accounts; and/or (c), with immediate
effect, to close all trading Accounts of such client with us, nullify all trades carried out in such client’s trading
Accounts with us and cancel and all profits or losses garnered in such client’s trading Accounts with us.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

85

CHAPTER I: INTRODUCING BROKERS, SERVICE PROVIDERS AND MANAGED ACCOUNTSINTRODUCING BROKERS AND THIRD PARTY TRADING SYSTEMS, COURSES, PROGRAMS, SOFTWARE OR
TRADING PLATFORMS OFFERED BY A SERVICE PROVIDER
You may have been referred to us by an Introducing Broker or may utilize any third party trading system, course,
program, software or trading platform offered by a Service Provider. If so, we shall not be responsible for any
agreement made between you and your Introducing Broker or Service Provider, or lack thereof. You
acknowledge that any such Introducing Broker or Service Provider will either be acting as an independentintermediary or an Agent for you and that your Introducing Broker or Service Provider is not an Agent or
employee of us. You further acknowledge that your Introducing Broker or Service Provider is not authorized tomake any representations concerning us or our Services.
We do not control, and cannot endorse or vouch for the accuracy or completeness of any information advice
or product you may have received or may receive in the future from an Introducing Broker or Service Provider.
Moreover, we do not endorse or vouch for the services provided by an Introducing Broker or Service Provider.
Since an Introducing Broker or Service Provider is not an Agent or employee of us, it is your sole and exclusive
responsibility to properly evaluate an Introducing Broker or Service Provider before engaging its services.
You are specifically made aware that your agreement with your Introducing Broker or Service Provider may
result in additional costs for you as we may pay one-off or regularly scheduled fees or commissions to such
person or entity from your Account.
You are also specifically made aware that your Agreement with your Introducing Broker or Service Provider
may result in additional costs for you where you and your Introducing Broker or Service Provider agree tocompensation on a per-trade basis to be based on your trading activity and withdrawn from your Account.
Such compensation to the Introducing Broker or Service Provider may require you to incur a mark-up, aboveand beyond the ordinary spread provided by us. You acknowledge and accept that frequent transactions may
result in a sum of total commissions, fees or charges that may be substantial and may not necessarily be offset
by the net profits, if any, achieved from the relevant trades. The responsibility for correctly assessing whether
the size of the total commissions, fees or charges for trades conducted and paid from your Account iscommercially viable, is the combined responsibility of you and your Introducing Broker or Service Provider. We
only act as custodian and principal broker, and we are, therefore is not responsible for the size of thecommissions, fees or charges paid by you.
Where you engage the services of an Introducing Broker or Service Provider, you understand and agree that
the Introducing Broker or Service Provider may have access to your personal information held by us, including
your trading activity. You further understand that your Introducing Broker or Service Provider may have been
introduced to us by a third party who is compensated in part based on your introduction to us or on yourtrading history. Where this occurs, you acknowledge and agree that the third party who introduced yourIntroducing Broker or Service Provider may have access to your personal information held by us, including yourtrading activity.
If the Introducing Broker or Service Provider undertakes any deductions from your Account according to any
agreement between you and your Introducing Broker or Service Provider, we have no responsibility as to theexistence or validity of such an agreement.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

86

Any commissions, fees or charges may be shared between the Introducing Broker or Service Provider, us andthird parties according to the Introducing Broker or Service Provider’s written instructions and/or at ourdiscretion.
You may request us to provide, at any time, a breakdown of remuneration paid by you to your Introducing
Broker or Service Provider, or the compensation scheme charged by your Introducing Broker or Service Provider
as applied to you.
MANAGED ACCOUNTS
We hereby notify you that your Attorney is not an employee, Agent or representative of us and further thatyour Attorney does not have any power or authority to act on behalf of us or to bind us in any way.
Unless otherwise agreed in writing between us and you "in the terms agreed upon by mutual consent of theParties", we may from time to time communicate with your Attorney directly regarding your Account. You
consent to this and you agree that communications made by us to your Attorney are deemed to be received
by you at the same time at which they are received by your Attorney.
By submitting a Limited Power-of-Attorney to us, you consent to and authorise us to disclose to your Attorney
all information that we hold in relation to your Account, including personal information that we hold in relation
to you.
You further acknowledge and accept that, in providing an electronic or online trading system to your
Attorney, we have the right, but not the obligation, to set limits, controls, parameters and/or other controls on
your Attorney’s ability to use such a system. You accept that if we choose not to place any such limits or controls
on your Attorney’s trading, or if such limits or controls fail for any reason, we will not exercise oversight orcontrol over instructions given by your Attorney and you accept full responsibility and liability for your
Attorney’s actions in such circumstances.
If you wish to revoke or amend a grant of authorisation under a Limited Power-of-Attorney, you must provide
us with a written notice of such intention by submitting the relevant form required by us from time to time.
Any such notice shall not be effective until two working days after we receive it (unless we advise you that ashorter period will apply). You acknowledge and agree that you will remain liable for all instructions given to
us prior to the revocation/variation being effective, and that you will be responsible for any losses, which may
arise on any Transactions that are open at such time.
We, acting in our sole and absolute discretion, may refuse to accept instructions from your Attorney in relation
to your Account on a one-off or on-going basis and we need not specify our reasons for refusing instructions
from your Attorney.
At your request, we may allow a third party, selected by you, to be your Agent and attorney in fact, managing
your Account, for the following purposes:
1. to enter into, modify, and/or close Transactions with us; to set, edit, and/or delete all dealing
preferences relating to your Account;
2. to enter into any agreements with us on your behalf, which relate to transactions on your Account;
3. to communicate with us on your behalf regarding any complaints or disputes that you or we may haveagainst one another relating to your Account;
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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4. to transfer money between your Account(s) and between any other account that you may hold withus; and
5. to accept any amendments to the Agreement, on your behalf.
Where you wish to have your Account managed by a third party, you must submit a Limited Power-ofAttorney
between you and your Attorney to us in a form acceptable by us in our sole and absolute discretion. Both weand you will be bound by these Terms and Conditions, and you shall ensure that the authorisation given to your
Attorney through the Limited Power-of-Attorney incorporates the provisions and restrictions of this Section.
We reserve the right, at any time and in our sole an absolute discretion, to require you to trade your Account(s).
This would require you to revoke your grant of authority to your Attorney and take all actions on your Accountyourself. Where we so require, we will notify you and your Attorney of our decision. We need not specify ourreasons for requiring you to trade your Account(s).
Our acceptance of a Limited Power-of-Attorney between you and your Attorney is conditional upon your
Attorney opening an Account with us in its personal capacity and maintaining that account for the entire periodthat it acts as Agent for you. Your Attorney is not required to fund its personal account, nor is the Attorneyrequired to conduct any Transactions on its personal account.
You agree to reimburse us for any loss, damage or expense incurred by us as a result of:• us acting on instructions of your Attorney that fall outside the power granted in the Limited Power-ofAttorney; or• your Attorney’s breach of any term of the Limited Power-of-Attorney.
Under no circumstances will we allow your Attorney to transfer any or all of your money outside of yourAccount with us. Moreover, we will not accept an Attorney’s request to transfer money into your Account fromany source outside of our Company.
Where you agree to compensate your Attorney directly from your Account, you shall submit to us acompensation schedule in a form acceptable to us.
You may select the type of management module to be used by your Attorney, which shall be noted on any
Limited Power-of-Attorney, choosing either a ‘PAMM’ or a ‘LAMM’. Where you select the use of a ‘PAMM’, you
acknowledge and accept the following:• your Attorney may be restricted from making any transactions in your Account while the system
performs any necessary adjustments during settlement and rollovers, and you will be responsible forthe market movement during this period;• you may be restricted from making any Account Transactions until the end of the following business
day; and• you may receive limited intraday reports of the activity that occurred on your Account.
You authorise us to accept all instructions given to us by your Attorney, whether orally or in writing, in relation
to your Account. We shall not be obliged to make any enquiry of you or of any other person before acting onsuch instructions.
You ratify and accept full responsibility and liability for all instructions given to us by your Attorney (and for all
Transactions that may be entered into as a result) and will indemnify us and keep us indemnified against any
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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loss, damage or expense incurred by us as a result of us acting on such instructions. This indemnity shall beeffective irrespective of the circumstances giving rise to such loss, damage or expense, and irrespective of any
knowledge, acts or omissions of us in relation to any other account held by any other person or body (including
your Attorney) with us. You further agree that this indemnity shall extend to loss, damage or expense incurredby us in reversing incorrect or erroneous instructions submitted by your Attorney that result in a Transactionthat must, for our protection or any of our other clients or for the reasons of market integrity, be reversed.

CHAPTER J: GENERAL PROVISIONSSTRAIGHT THROUGH PROCESSING AND ELECTRONIC COMMUNICATIONS NETWORKS
Unless otherwise determined and stated "in the terms agreed upon by mutual consent of the Parties", we willtransmit your Orders for execution directly to our liquidity providers on a Straight Through processing (‘STP’)basis. As an STP broker, we send orders directly from our clients to our liquidity providers. Sometimes STP
brokers have just one liquidity provider, other times they have several. The more liquidity providers there arein the system, the better the fills for the clients. The fact that traders have access to the true market and can
execute trades immediately without dealer intervention is what makes our Online Trading Platform STP. As an
STP broker, we are compensated through the spread mark-ups we apply to the spread quotes provided by our
liquidity providers. This is done by adding a small mark-up to the best ‘Bid’ and subtracting s small mark-downat the best ‘Ask’ of our liquidity provider(s). All our client orders are directly routed to our liquidity providers
at the original spread quoted by those providers, while, as an STP broker, we earn our money from our own
mark-ups.
CONFLICTS OF INTEREST
You should be aware that when and where we, our Associates or other Persons or companies connected withus, arrange Transaction and/or Contracts with you, we may have an interest, relationship or arrangement thatis material in relation to the Transaction and/or Contract concerned. Should such a conflict of interest arise wewill seek to resolve such conflict in such a way as we believe is in your best interests in accordance with ourconflicts of interest policy (as amended or extended from time to time) (“Conflicts of Interest Policy”).
Specifically you hereby acknowledge and confirm that: (a) we may assign or transfer the execution of yourOrders to our Affiliates, Associates and or other third parties, as we deem fit; (b) we may execute at the sametime Orders by different clients that are opposite to one another; (c) we may establish business, including
without limitation, trading relationships with other issuers of Financial Instruments and we may have a financial
interest in such Financial Instruments; and (d) we may compensate and/or share our revenues from youractivity with our Affiliates, Associates, partners and/or other similar parties performing marketing activities on
our behalf. You hereby further acknowledge and agree that we also may compensate other clients who you
have elected to follow and/or copy.
Full details of our Conflicts of Interest Policy are available on our Online Trading Facility. Our Conflicts of Interest
Policy is a policy only, it is NOT part of these Terms and Conditions and is not intended to be contractuallybinding or impose or seek to impose any obligations on us.
By accepting these Terms and Conditions, you expressly acknowledge and agree that we may transact suchbusiness without prior reference to any potential specific Conflict of Interest.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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SPECIAL PROVISIONS FOR MANAGED ACCOUNTS, INTRODUCED ACCOUNTS OR THIRDPARTY VENDORS
If your Account(s) is/are being managed by a trading advisor or is introduced to us, you acknowledge and agree
that we have no responsibilities, or obligations regarding any conduct, action, representation or statement of
any such Persons in connection with your Account(s) or any Transactions or Contracts executed therein. You
understand that we make no warranties nor representations concerning such trading advisor or Introducing
Broker, that we shall not be responsible for any loss to you occasioned by the actions of such trading advisor
or Introducing Broker and that we do not, by implication or otherwise, endorse or approve of the operating
methods of such trading advisor or Introducing Broker. You further acknowledge and agree that: (a) any trading
advisor or Introducing Broker acts as an independent intermediary for you; (b) unless you have been expressly
advised otherwise in writing by us, no such Person is an affiliate, employee or agent of us; (c) no such Person
is authorized to make any representations concerning us or the Services to be provided by us hereunder, except
as may be expressly authorized in writing by us; (d) we do not bear any responsibility whatsoever for whateveragreements reached by and between you and any such trading advisor or Introducing Broker; (e) youragreement with any such trading advisor or Introducing Broker may result in additional costs, since we may be
obliged to pay commission fees or charges to such trading advisor or Introducing Broker; and (c) in thoseinstances where such trading advisor or Introducing Broker is accepted by us in this capacity, such trading
advisor or Introducing Broker may be authorized to have ''View Only'' access to one or more terminals,
including terminal access through Internet browser, to electronically monitor the activities of the Accounts
introduced by the trading advisor or Business Introducer in question to us.
If a trading advisor manages your Account or if an Introducing Broker introduces you to us, we (a) may
compensate such Persons from our assets, or (ii) we may deduct directly from your Account compensation
payable to such Persons. In the event your Account is managed by a trading advisor, you shall deliver to us acopy of such trading advisor's written trading authorization or your acknowledgment of such authorization, in
a form acceptable to us.
You agree to waive any claims, which you may have against us, and to indemnify and hold us harmless for any
actions or omissions of any such Business Introducer or any of its associated Persons.
RISK ACKNOWLEDGEMENTS
You acknowledge, recognize and understand that trading and investments in leveraged as well as nonleveraged
Transactions and/or Contracts is: (a) highly speculative; (b) may involve an extreme degree of risk; and (c) isappropriate only for Persons who, if they trade on Margin, can assume a substantial risk of loss in excess of
their Margin deposit.
You further acknowledge, recognize and understand that: (a) because of the low level of Margin normallyrequired in highly leveraged transactions, price changes in the Underlying Instrument may result in significant
losses, which losses may substantially exceed your investment and Margin deposit; (b) certain Market
Conditions may make it difficult or impossible to execute Orders at a stipulated price; (c) when you directs us
to enter into any Transaction and/or Contract, any profit or loss arising as a result of a fluctuation in the valueof the Financial Instrument or the Underlying Instrument will be entirely for your account and risk; (d) we will,in general, not provide any advice to you; therefore, you agree not to hold us responsible for any losses incurred
as a consequence of following any of our recommendations or suggestions or those of our employees,
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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associates or representatives, unless we have exercised gross negligence in connection herewith; (e) we shallnot conduct any continuous monitoring of the Transactions and/or Contracts entered into by you; accordingly,
we cannot be held responsible for any Transactions and/or Contracts developing differently from what you
might have presupposed and/or to your disadvantage; (f) guarantees of profit or freedom from loss are
impossible in investment trading; (g) you have received no such guarantees or similar representations from us,
nor from any of our Associates, from a Business Introducer, or representatives hereof or from any other entitywith whom you are trading in a corporate or joint Account.
In light of the risks, you should undertake such transactions only if you understand the nature of the trading
into which you are about to engage and the extent of your exposure to risk. Trading in leveraged Financial
Instruments is not suitable for many members of the public and you should carefully consider whether suchtrading is appropriate for you in light of your experience, objectives, financial resources and other relevant
circumstances. You acknowledge and confirm that you have been advised and understand the following factors
concerning trading in leveraged Financial Instruments in the Over-the-Counter Market, in addition to thosecontained in the Risk Disclosure Statement posted on our Online Trading Facility.
General: When you enter into foreign currency contracts with us, you will be entering into a privately
negotiated Transaction and/or Contract. The Transactions and/or Contracts in leveraged Financial Instruments
you may be entering into via our Online Trading Facility are NOT executed on a regulated exchange and are notcleared on a central clearing organization. Consequently, any Transaction and/or Contract entered into via our
Online Trading Facility will not be an obligation towards you of a clearinghouse as in the case of an exchangetraded contract and you will not be afforded the regulatory and financial protections offered by exchangetraded contracts. You are, therefore, obliged to perform your respective obligations under each Transaction
and/or Contract in accordance with its terms. The terms of each Transaction and/or Contract are set out inthese Terms and Conditions (which apply to every Transaction and/or Contract you enter into via our Online
Trading Facility) and the Settlement/Trade Confirmation (which applies to each particular Transaction and/or
Contract). Because none of these Transactions and/or Contracts is executed on a regulated exchange and/or
cleared on a central clearinghouse, you will not be able to transfer your obligations under the Transaction
and/or contract to another Person without our prior consent. In addition, you are not entitled to terminate orclose out the Transaction and/or
Contact prior to the expiration date for that Transaction and/or Contract. We may at our sole
discretion, but are not obligated to quote you a price for an early close out of a Transaction and/or Contract,
on request.
Effect of "Leverage" or "Gearing": Transactions in leveraged Financial Instruments carry a high degree of risk.
The amount of Initial Margin may be small relative to the value of the Financial Instruments traded so that
Transactions and/or Contracts are 'leveraged' or 'geared'. A relatively small market movement may have a
proportionately larger impact on the funds you have deposited or will have to deposit: this may work against
you as well as for you. You may sustain a total loss of initial Margin funds and any additional funds deposited
with us to maintain your position. If the Market moves against your position or Margin levels are increased,
you may be called upon to pay substantial additional funds on short notice to maintain your position. You may
sustain a total loss of initial Margin funds and any additional funds deposited with us to maintain your position.
We reserve the right to liquidate positions without prior notice in the case of any Margin shortfall or if you fail
to comply with a request for additional funds within the time prescribed.
Negative Balance Protection: The Company will not be liable for any margin call or losses that the Client may
suffer, including but not limited to losses due to Stop-out Level, if the trading benefit is withdrawn for any
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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reason pursuant to the applicable “Client Agreement - Terms and Conditions of Business”. The Company
ensures that losses will never exceed the total available funds across the Clients’ Traders Trust trading portfolio(negative balance protection).
In addition, the client accepts that the Company reserves the right to immediately terminate the client’s accessto the trading platform(s) and recover any losses caused by the client, in the event that the Firm determines,
at its sole discretion, that the client voluntarily and/or involuntarily abuses the ‘Negative Balance Protection’offered by the Company, by way of, but not limited to, hedging his/her exposure using his/her trading accounts,
whether under the same profile or in connection with another client(s); and/or requesting a withdrawal offunds, notwithstanding any of the provisions of this Agreement, during a specific timeframe, in accordancewith Termination clauses (CHAPTER N: TERMINATION OF CLIENT RELATIONSHIP AND LIQUIDATION OF
ACCOUNTS ) of this Agreement.
‘CFD’ and ‘Spot Forex’ Transactions: You will be obliged to meet the obligations arising under a ‘CFD’ or ‘Spot
Forex’ Transaction and/or Contract in accordance with its terms. These Transactions and/or Contracts may be
used to establish long or short positions in the Market. A ‘Spot’ Contract is a cash market Transaction to buy orsell immediately a specified quantity of a certain Financial Instrument, for settlement in no more than twodays. The price terms and characteristics of ‘CFD’ or ‘Spot Forex’ are privately negotiated; accordingly, there isno centralized price source and the Transactions are not cleared through a clearinghouse. In general, the ‘OverThe-Counter (OTC)’ Market is unregulated, there are no limitations on daily price movements (unless imposedby a government or central bank authority), no rules to regulate valuation or settlement procedures, and nominimum financial requirements for Market participants. At the defined settlement dates for ‘CFD’ or ‘Spot
Forex’ Contracts there will be a cash settlement (depending on the terms of the specified contract) which you
may receive from or be obliged to pay. There will not be a physical delivery of Financial Instruments, unlessprior arrangements are made with us beforehand. The size of the cash settlement payment is dependent on
the position you have and the market movement in the time since the position was established.
Trading in Transactions in leveraged Financial Instruments is Speculative: Prices of leveraged Financial
Instruments are highly volatile. Price movements of Transactions and/or Contracts in leveraged Financial
Instruments are influenced by, among other things, interest rates, changes in balance of payments and trade,domestic and international rates of inflation, international trade restrictions and currency devaluations andrevaluations. For example, there can be serious Market Disruptions if economic or political events locally oroverseas affect the market. It is not possible to foresee all risks in advance.
Electronic Trading Facilities: Most Electronic Trading Facilities are supported by computerbased component
systems for the Order-routing, execution, matching, registration or clearing of trades. As with all facilities andsystems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may besubject to limits on liability imposed by the system provider, the market, the clearing house and/or member
firms. Such limits may vary.
Electronic Trading: You will trade in leveraged Financial Instruments through our Online Trading Facility.
Trading on an electronic trading system may differ not only from trading in an ‘open-outcry’ Market, but also
from trading on other electronic trading systems. If you undertake transactions on an electronic trading system,
you will be exposed to risks associated with the system including the failure of hardware and software. The
result of any system failure may be that your Order is either not executed according to your instructions, is not
executed at all and a lack of capability to keep you informed continuously about your positions and fulfilmentof the Margin requirements. Since we do not control signal power, its reception or routing via internet,
configuration of your equipment or reliability of its connection, we cannot be responsible for communication
failures, distortions or delays when trading on-line via the Internet. We do, however, employ back-up systems
and contingency plans to minimize the possibility of systems failure, and trading via telephone may be available
in those instances where specifically agree, at our sole discretion, to do so.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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Commissions and other charges: Before you begin to trade, you should obtain a clear explanation of allcommission, fees, mark ups, markdowns and other charges for which you will be liable. These charges willaffect your net profit (if any) or increase your loss.
Risk-reducing and entry Order strategies: The placing of certain Orders (‘Stop-Loss’ Orders or ‘Stop-Limit’
Orders, ‘Entry Buy’ Orders or ‘Entry Sell’ Orders) which are intended to limit risk, may not be effective because
Market conditions may make it impossible to execute these Orders. Strategies using combinations of positions,such as ‘spread’ and ‘straddle’ positions may be just as risky as taking long or short positions. Clients’ Orders
will become Market Orders when the predetermined price level is reached, even if the price is considerably
different from the original Order.
Suspension or restriction of trading and pricing relationships: Market conditions (e.g., liquidity) and/or theoperation of the rules of certain Markets (e.g., the suspension of trading in any Financial Instrument or
underlying Instrument because of price limits or ‘circuit breakers’) may increase the risk of loss by making it
difficult or impossible to effect Transactions and/or Contracts or liquidate/offset positions. Furthermore,normal pricing relationships between the Underlying Instrument and the Financial Instrument traded may notexist. The absence of a price for an Underlying Instrument may make it difficult to judge ‘fair’ value.
Deposited cash and property: You should familiarize yourself with the protections accorded to money or otherproperty you deposit for domestic and foreign Transactions and/or Contracts, particularly in the event of a firm
insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by
specific legislation or local rules. In some jurisdictions, property, which has been specifically identifiable as yourown, will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. The
Transactions and/or Contracts you are entering into are NOT traded on an exchange. Therefore, underapplicable bankruptcy laws, your funds may NOT receive the same protections as funds used to Margin or
guarantee exchange-traded Transactions and/or contracts, which may receive a priority in bankruptcy. Since
that same priority has NOT been given to funds used for Transactions and/or Contracts in the Over-the-Counter(OTC) Market, if we were to become insolvent and you have a claim for amounts deposited or profits earnedon Transactions and/or Contracts with us your claim may not receive priority. Without priority, you are a generalcreditor and your claim will be paid, along with the claims of other general creditors, from any monies stillavailable after priority claims are paid. In these circumstances, even the Client Funds, which we keep separated
from our own operating funds, may NOT in all instances be safe from the claims of other general and priority
creditors.
Currency risks: The profit or loss in Transactions and/or Contracts in leveraged Financial Instruments (whether
they are traded in your own or in another jurisdiction) will be affected by fluctuations in currency rates where
there is a need to convert from the currency denomination of the position taken to another currency.
Transactions in other jurisdictions: Transactions on markets in other jurisdictions, including Markets formallylinked to a domestic market, may expose you to further, additional risk. Such markets may be subject toregulation, which may offer different or diminished investor protection. Before you trade, you should enquire
about any rules relevant to your particular Transactions and/or Contracts. Your local regulatory authority will
be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions
where your Transactions and/or Contracts have been effected. You should enquire about the types of redressavailable, both in your home jurisdiction and any other relevant jurisdictions before you start to trade.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Quoting and Execution Errors: Should quoting and/or execution errors occur, which may include, but are notlimited to, a quote or trade which is not representative of fair Market prices, an erroneous price quote, suchas, but not limited to, a wrong big figure quote or an erroneous quote due to failure of hardware, software orcommunication lines or systems and/or inaccurate external data feeds provided by third-party vendors, we will
not be liable for the resulting errors in your Account balances. In addition, Orders must be placed allowing
sufficient time to execute, as well as, sufficient time for the system to calculate necessary Margin requirements.
The execution of Orders placed too close to prices, which would trigger other Orders (regardless of Order type)or a Margin call, cannot be guaranteed. We will not be liable for the resulting Margin call(s), resulting balance,
and/or positions in your Account due to the system not having been allowed sufficient time to execute and/or
calculate accordingly. The foregoing list is not meant to be exhaustive and in the event of a quoting or execution
error, we reserve the right to make the necessary corrections or adjustments on the Accounts involved. Any
dispute arising from such quoting or execution errors will be resolved by us in our sole and absolute discretion.
You agree to indemnify and hold us harmless from any and all damages or liability as a result of the foregoing.
No correspondence will be entered into.
Off-Exchange Transactions: The Transactions and/or Contracts you are entering into with us as counterparty
are NOT traded on an exchange, but in the off-exchange/Over-the-Counter (OTC) Market. In general, the OverThe-Counter (OTC) Market is unregulated, there are no limitations on daily price movements (unless imposedby a government or central bank authority), no rules to regulate valuation or settlement procedures, and nominimum financial requirements for market participants. Accordingly, it may be difficult or impossible toliquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk.
For these reasons, these transactions may involve increased risks. Off-exchange Transactions may be lessregulated or subject to a separate regulatory regime. Before you undertake such Transactions, you shouldfamiliarize yourself with applicable rules and attendant risks.
In addition to the foregoing, it is important that you be fully aware of the following points:(a) We reserve the right to close part, or all, of your open positions, in order to facilitate the charge of any
fees or amounts due by you. Notwithstanding, you shall be liable for promptly paying such fee(s) to us,
even if you suffer full loss of all Margin deposited by you.
(b) We do NOT guarantee any Order. Placing ‘stops’ (“Stops”)’, regardless of the entry or closing
designation, does not guarantee that the trade will be filled at the Order price. All ‘Entry Stops’ and‘Stops’ will be filled, upon activation, at the first/best available market price, which may or may not
match the requested Order price.
In the event that our liquidity providers are unable to provide liquidity to us, your Order may experience delays
in execution or you may not be able to place Orders entirely. The size of the Order may also impede the speed
at which the Order is executed. Keep in mind that it is necessary to enter any Order only once. Multiple entries
for the same Order may inadvertently open unwanted positions.
While trading on our Online Trading Facility, you might encounter system errors that may result from hardware
and/or software failures. The result of any system failure may be that your Order is either not executed
according to your instructions, executing with account balance errors and discrepancies or not executed at all.
We will not be liable for the resulting errors in your Account balances. We reserve the right to make thenecessary corrections or adjustments on the Account(s) involved.
NO SYSTEM EXISTS THAT COULD ASSURE YOU THAT TRANSACTIONS IN LEVERAGED FINANCIAL
INSTRUMENTS SHOULD BRING YOU GREAT BENEFITS, NOR IS IT POSSIBLE TO GUARANTEE, THAT YOUR
TRANSACTIONS AND/OR CONTRACTS WILL YIELD FAVOURABLE RESULTS.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Even though the foreign currencies, commodities and indices markets are liquid as compared with otherfinancial and exchange markets, the market conditions might at times render the execution of an Order or of a‘limit’ on an Order (either ‘Stop Loss’ or ‘Take Profit’) at a stipulated price impossible.
Accordingly, even though the extent of the losses could be subjected to an agreed upon limit, the risk of
incurring losses could be higher, and that loss could occur in a relatively short period of time.
Since deposit of an additional guarantee is not obligatory in this case, we reserve the right, at our sole
discretion, to close any outstanding balances without your consent under these circumstances.
Under abnormal Market conditions, CFDs may fluctuate rapidly to reflect unforeseeable events that cannot be
controlled either by us or by you.
It is important to make a distinction between ‘Indicative Quotes’, which are displayed on charts and ‘Dealable
Quotes’ which are displayed on our Online Trading Facility. ‘Indicative Quotes’ only give an indication of where
the Market is. Because the derivatives products Markets are decentralized, meaning they lack a single central
exchange where all transactions are conducted, each of our liquidity providers may quote slightly different
prices. Therefore, any prices displayed on any chart made available by us or by a third party will only reflect‘Indicative Quotes’, and not necessarily actual ‘Dealable Quotes’ in respect of which Transactions, Contracts ortrades can be executed.
The risk information presented here does not reflect all of the risks as well as other important aspects intrinsic
to Transactions and/or Contracts in leveraged Financial Instruments. Therefore, before starting to trade, you
should learn the specifics of entering into such Transactions in detail or seek further professional advice.
UNLESS YOU HAVE ELECTED TO CARRY A TRADE OVER THE WEEKEND, ALL TRADES WILL AUTOMATICALLY
CLOSE OUT IN THE REAL MONEY MODE WHEN MARKET CLOSES AT THE END OF THE BUSINESS WEEK AT THE
RATES AVAILABLE ON THE END OF THE LAST TRADING DAY OF THE RELEVANT WEEK. ALL STATEMENTS WITHRESPECT TO REAL MONEY ACCOUNTS WILL BE ACCESSIBLE DURING THE WEEKEND AND ALL TRADERS ARE
WELCOME TO VIEW THEIR TRADING ACCOUNT INFO. WE RESERVE THE RIGHT NOT TO OFFSET CONTRACTSCARRIED OVER THE WEEKEND SHORTLY AFTER MARKETS ARE OPEN. WE MAY, AT OUR SOLE DISCRETION,
ALLOW OFFSETTING CONTRACTS CARRIED OVER THE WEEKEND WHEN MARKET LIQUIDITY CONDITIONS AREREASONABLE.
There are a series of inherent risks with the use of the mobile trading technology such as the duplication ofOrder instructions, latency in the prices provided, and other issues that are a result of mobile connectivity.
Prices displayed on our mobile platform are solely an indication of the executable rates and may not reflect theactual executed price of the Order. Our mobile feature utilizes public communication network circuits for thetransmission of messages. We shall not be liable for any and all circumstances in which you experience a delayin ‘Price Quotes’ or an inability to trade caused by network circuit transmission problems or any other problems
outside our direct control, which include but are not limited to the strength of the mobile signal, cellularlatency, or any other issues that may arise between you and any internet service provider, phone service
provider, or any other service provider. Please further note that some of the features available on our Online
Trading Facility may not be available on our mobile feature(s).

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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FURTHER REPRESENTATIONS, WARRANTIES AND COVENANTS
In addition to, and without prejudice, to any other representations, warranties and covenants set forth in theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, you hereby further represent, warrant, covenant and agree: (a) that all sums, investments or otherassets supplied by you for any purpose, subject to these Terms and conditions, shall at all times be free fromany charge, lien, pledge or encumbrance and shall be beneficially owned by you and, in particular, without
prejudice to the generality of the foregoing, that, except as otherwise agreed by us, you are the sole beneficial
owner of all Margin/Collateral/Assets you transfer under the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, free and clear of any Security interest
whatsoever other than a lien routinely imposed on all securities in a clearing system in which such securities
may be held; (b) that you act as Principal and sole beneficial owner (but NOT as trustee) in entering into thisAgreement and each Transaction and/or Contract performed hereunder and that no Person other than you(and only you) has or will have an interest in your Account(s); (c) that, regardless of any subsequent
determination to the contrary, trading in leveraged Financial Instruments on the Over-the-Counter Market (andin such other investments as we may from time to time agree) is suitable for you and that you are aware of allrisks involved with such Transactions and/or Contracts; (d) that you have read, and fully understood, the“Website Terms of Use”, the “Risk Warning Notice for Contracts for Difference (“CFDs”) and Spot Foreign
Exchange (“Forex”)”, the “Privacy Policy”, the “Money Laundering & Terrorist Financing Prevention Policy”
and the “Order Execution Policy” on our Online Trading Facility; and (e) that you are willing and financially able
to sustain a total loss of funds resulting from any Transactions and/or Contracts performed hereunder.
By using our Online Trading Facility, you represent, warrant, covenant and declare that all the funds that you
use and invest on our Services do not originate in any way from drug trafficking, abduction, terrorist activity or
any other criminal activity that is unlawful or could be considered unlawful by any authority. You hereby further
represent, warrant, covenant and agree that, in the event that we may become suspicious that you may beengaging in or have engaged in such fraudulent, unlawful or improper activity, including, without limitation,
money laundering activities, or conduct otherwise in violation of these Terms and Conditions, your access to
our Online Trading Facility may be terminated immediately and/or your Account(s) blocked. If your Account(s)is/are terminated or blocked in such circumstances, we are under no obligation to refund any funds that may
be in your account, unless otherwise instructed by a relevant regulatory authority. In addition to terminating
your access to our Online Trading Facility and/or blocking your Account(s), we reserve the right to prevent you
from accessing any of our (other) websites or servers, or accessing any other services offered by us. We shallbe entitled to inform the relevant authorities, other online service providers and banks, credit card companies,
electronic payment providers or other financial institutions of your identity and of any suspected unlawful,
fraudulent or improper activity and you will cooperate fully with us to investigate any such activity.
The above representations and warranties shall be deemed to be repeated each time in the future you enter
into a Transaction or Contract or provide Instructions to us, for the duration of our client relationship.
You covenant to us that: (a) you will at all times obtain and comply, and do all that is necessary to maintain in
full force and effect, all authority, powers, consents, licenses and authorizations referred to in this Section; (b)you will promptly notify us of the occurrence of any Event of Default or potential Event of Default; (c) you will
use all reasonable steps to comply with all Applicable Laws, Rules and/or Regulations in relation to thisAgreement and any Transaction and/or Contract hereunder, so far as they are applicable to you or us; (d) you
will not send Orders or otherwise take any action that could create a false impression of the demand or value
for Financial Instrument, or send Orders which you have reason to believe are in breach of Applicable Laws,
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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Rules and/or Regulations (e) you shall observe the standard of behaviour reasonably expected of Persons inyour position and not take any step which would cause us to fail to observe the standard of behaviour
reasonably expected of Persons in our respective positions; and (e) upon demand, you will provide us withsuch information as we may reasonably require to evidence the matters referred to in this Section or to comply
with any Applicable Laws, Rules and/or Regulations.
INFORMATION DISCLOSURE
Neither Party shall disclose any information relating to the business, investments, finances or other matters ofa confidential nature of the other Party of which it may in the course of its duties or otherwise become
possessed, and each Party shall use all reasonable endeavours to prevent any such disclosure. However, thisshall not apply if a Party is obliged hereto due to prevailing legislation, or to a legislative or supervisingauthority, or to another Person who according to the law is entitled to demand disclosure, or in order to enable
the Party sufficiently to fulfil its obligations pursuant to these Terms and Conditions
By accepting these Terms and Conditions, you authorize us to disclose such information relating to you as may
be required by any Applicable Laws, Rules and/or Regulations or any regulatory authority, including any
applicable Market Rules, without prior notice to you.
By accepting these Terms and Conditions, you authorize us to share personal information submitted by you to
us with any duly licensed financial entity, with any of our Associates for the purpose of providing trade
recommendations, trading activities, sales and marketing information, including new products and services,and with any third party agency that is working on our behalf with the purpose of performing client analysis
for the use of our sales and marketing; furthermore, we may share such information with any trading advisor
or Introducing Broker for the purpose of completing the due diligence to, and the approval of, your ‘AccountOpening Application Form(s)’.
REGULATORY MATTERS
Unless otherwise permitted by the Bermuda Laws and Regulations or any other Applicable Laws andRegulations, nothing in this Agreement shall be taken to exclude or restrict our obligations under the BERMUDA
Rules or any other Applicable Laws, Rules and/or Regulations.
We shall be entitled to take any action as we consider necessary, at our sole and absolute discretion, to ensurecompliance with the BERMUDA Rules or any other Applicable Laws, Rules and/or Regulations and such actions
shall be binding on you and shall not render us or any of our Associates liable.
TAX IMPLICATIONS
We shall not provide any advice to our clients on any tax issues related to any of our Services. You are advised
to obtain individual independent counsel from your financial advisor(s), auditor(s) or legal counsel with respect
to any tax implications of our Services.
You further know, understand and agree that, in general, we do not collect tax on behalf of any authority inany form or manner whatsoever. You are solely responsible to manage tax implications related to the income
you derive from your trading activity on or through our Online Trading Facility.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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Without limiting the foregoing, it is solely your obligation to calculate and pay all taxes applicable to you in yourcountry of residence, or, in the case of Legal Entities, in their country of formation, incorporation and/or
domiciliation, or otherwise arising as a result of your trading activity from and/or the access and/or use of ourServices.
Without derogating from your sole and entire responsibility to perform tax payments, you agree that we may
deduct tax, as may be required by the Applicable Laws and Regulations, but that we are not obligated to do so,from the results of your trading activity from and/or the access and/or use of our Services. You are aware thatany amounts that may be withdrawn by you from your Account are ‘gross amounts’, from which we may deduct
such taxes, as the case may be, and that you shall have no claim towards us with regard to such deductions.
INTELLECTUAL PROPERTY
All copyrights, trademarks, patents, trade secrets and other title, ownership rights and Intellectual Property
Rights in and/or relating to: (a) our Online Trading Facility; (b) our Services; (c) any other of our platforms or
Software (including, without limitation, Demos and any relevant System Documentation and/or users'
manuals); (d) this Agreement; (e) the Price Quotes we provide; and/or (f) any Pricing Data or other informationtransmitted via our Online Trading Facility or otherwise, (hereinafter, collectively, referred to as “Intellectual
Property Assets”), are our sole and exclusive property and/or, as the case may be, of our the third party service
provider(s) which granted us the right to supply them (“Third Party Licensors”). Our Online Trading Facility(including, without limitation, any other of our platforms or Software) may incorporate third party data, text,
images, software, multi-media materials and other content (“Third Party Content”) and references to the term
“Intellectual Property Assets” shall be taken to include all materials, content and services made available fromtime to time via our Online Trading Facility, whether viewed on screen or downloaded to another computer
including, without limitation, Third Party Content.
All Intellectual Property Assets, including but limited to all copyrights, trademarks, patents, service marks, trade
names, software code, icons, logos, characters, layouts, trade secrets, buttons, colour scheme and graphics areprotected by local and international intellectual property laws and treaties, including all copyright laws andregulations and remain vested in us or in our Third Party Licensors. You receive no copyright, intellectual
property rights or other rights in or to our Intellectual Property Assets, except for the right to access and use
them in accordance with the terms and conditions of the Agreement and/or any agreements by and between
us, including, without limitation, these Terms and Conditions, or pursuant and/or as granted to you in any
agreement you may have with one of our Third Party Licensors. You will protect and not violate our Intellectual
Property Assets any Third Party Licensor’s proprietary rights therein and honour and comply with ourreasonable requests to protect our and each of our Third Party Licensors’ contractual, statutory and common
law rights therein. If you become aware of any violation of our or a Third Party Licensor’s proprietary rights in
any Intellectual Property Assets, you will notify us promptly in writing thereof.
Under no circumstances shall you remove any copyright notification from any of our Intellectual Property
Assets or unlawfully use any of our Intellectual Property Assets. You will not publish, distribute, or otherwise
make any of our Intellectual Property Assets available to third parties any information derived from or relating
to our Intellectual Property Assets, Website(s), Services, Online Trading Facility and/or Software provided.
Except as otherwise specifically agreed in writing or to the extent necessary for you to view our Online Trading
Facility in accordance with these Terms, you shall not: (a) copy, interfere with, tamper with, alter, amend or
modify any of our Intellectual Property Assets and/or any component thereof, in whole or in part (except tomake backup copies solely for disaster recovery purposes); (b) display, reproduce, create derivative works from,
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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transmit, sell, distribute, rent, lease, sublicense, time-share, lend or transfer or in any way exploit ourIntellectual Property Assets and/or any component thereof, in whole or in part; (c) embed our Intellectual
Property Assets and/or any component thereof, into other products; (d) use our Intellectual Property Assets
and/or any component thereof, in any timesharing arrangement; (e) create function calls or other embedded
links from any software program to our Intellectual Property Assets and/or any component thereof; (f) removeor obscure any of our copyright notices or those of any of our Third Party Licensors from any of our Intellectual
Property Assets and/or any component thereof, (g) use any of our trademarks, service marks, trade names,
domain names, logos, or other identifiers, or those of any of our Third Party Licensors (collectively “Marks”);or (h) save to the extent permitted by Applicable Laws, Rules and/or Regulations reverse engineer, decompile,
disassemble, or access the source code of any of our Intellectual Property Assets and/or any component
thereof.
Any copies of our Online Trading Facility, or any part thereof, made in accordance with any Applicable Laws,
Rules and/or Regulations are subject to the terms and conditions of the Agreement and/or any agreements byand between us, including, without limitation, these Terms and Conditions. You shall ensure that all ourtrademark, copyright and restricted rights notices, and where appropriate those of our Third Party licensors,
are reproduced on these copies. You shall maintain an up-to-date written record of the number of such copies
made by you. If we so request, you shall as soon as reasonably practical, provide to us a statement of thenumber and whereabouts of any and all of such copies.
Any permitted use of Marks shall be subject to our, respectively our Third Party Licensors’, quality control
standards, and all associated goodwill shall inure to our, respectively, our Third Party Licensors’ benefit. Pleasealso note that our “Website Terms of Use”, which are published elsewhere on our Online Trading Facility, are
an integral part of these Terms and Conditions and are integrated and incorporated herein by reference.
DATA PROTECTION
We are the Data Controller for the purposes of all Personal Data Protection Legislation. Any queries about theuse of Personal Data by us should be referred to our Compliance Officer.
As indicated hereinabove, in relation to our Privacy Policy, we may collect, use and disclose Personal Data about
you, including Personal Data you may voluntarily disclose to us in any manner, so that we can: (a) carry out our
obligations under this Agreement; (b) carry out our everyday business activities and dealings with you; (c)compile statistical analysis of the pages of our Online Trading Facility visited; (d) monitor and analyse ourbusiness; (e) participate in crime prevention, legal and regulatory compliance; (f) market and develop otherproducts and services; (g) transfer any of our rights or obligations under these this Agreement; and (h) processclients’ Personal Data for other related purposes. If you choose to withhold non-sensitive Personal Data
requested, we may not be able to give you access to our Online Trading Facility.
We will not obtain or require disclosure of sensitive Personal Data (such as ethnic origin, religion or medical
records) but if you choose to provide such sensitive Personal Data, we may assume such sensitive data isprovided with your consent for processing for the purposes for which such Personal Data was provided, unlessotherwise notified by you to us in writing.
Neither we nor any of our Third Party Service Providers will disclose any Personal Data collected about you or
any Authorized Person to third parties except: (a) to the extent that it is required to do so by under and/or
pursuant to any Applicable Laws, Rules and/or Regulations; (b) where there is a duty to the public to disclose;(c)TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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where our legitimate business interests require such disclosure; or (d) at your request or with your consent or
to Persons described below.
We, our Associates or a Third Party Service Provider may disclose Personal Data about you to those who provide
services to us, to any Person to whom we, our Associates or a Third Party Service Provider transfer(s) or
propose(s) to transfer any of our or its rights or obligations under these Terms and Conditions, and to licensed
credit reference agencies or other organizations that help us, our Associates or Third Party Service Providers
and others to make credit decisions and reduce the incidence of fraud or in the course of carrying out identity,
fraud prevention or credit control checks.
We, our Associates and/or Third Party Service Providers may transfer data, including Personal Data and dataon your trading activity, collected and held about you to other countries, including countries outside theEuropean Economic Area (“EEA”) that may or may not have similar data protection laws, for any of the purposes
described herein. By accepting these Terms and Conditions, you consent to such transfers.
We, our Associates and/or Third Party Service Providers may record or monitor telephone conversations
between you and us for security, compliance with the law, training purposes and to maintain and improve thequality of our Services. Such telephone conversations may be used by us as evidence in the event of any dispute
between us, in accordance with the provisions set out hereinabove. Any recordings shall be and shall remain
our sole property and will be accepted by you as conclusive evidence of their content as recorded by us. You
agree that we may deliver copies of transcripts of such recordings to any court, regulatory or government
authority, including without limitation, in disputes which may arise between you and us. However, technicalreasons may prevent us from recording a conversation, and recordings or transcripts made by us will be
destroyed in accordance with our normal practice. Consequently, you should not rely on such recordings to beavailable.
We may use ‘cookie tracking devices’ or ‘IP address tracking devices’ to administer our Online Trading Facility,
store password and usernames, to monitor visits to pages on our Online Trading Facility from your terminal topersonalize our Online Trading Platform to you and to track and facilitate browsing through our Online Trading
Facility. A ‘cookie’ is a piece of data stored on your hard drive containing information about you relating to theuse of our Online Trading Facility. IP addresses may be linked to your Personal Data and by tracking theseaddresses, we would be obtaining such Personal Data. Access to our Online Trading Facility is conditional on
acceptance by you of any ‘cookies’, ‘cookie tracking devices’ and ‘IP address tracking devices’ described in, andfor the purposes explained in, this Section. By accepting these Terms and Conditions, you acknowledge thatyou understand the broad nature of ‘cookies’, ‘cookie tracking devices’ and ‘IP address tracking’ devices andthe purposes for which they will be used by us.
You acknowledge and accept that any Services provided through our Online Trading Facility involve
transmissions over the Internet and that such transmissions are therefore subject to the Internet's inherent
risks. Whilst we acknowledge our responsibility to take reasonable security precautions, you also acknowledge
and accept that, as with any network, you may also be exposed to unauthorized programs transmitted by third
parties, electronic trespassing and/or the failure of information and data to reach their intended destinations
and/or erroneous receipt or misdirection of such information. Although we, our Associates’ and our Third Party
Service Providers’ and security features are designed to reduce these risks, we cannot guarantee theirelimination. You therefore acknowledge that no transmission via our Online Trading Facility shall be guaranteed
to be confidential and that we shall not be liable for any breach of confidence arising as a result of such events.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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CHAPTER K: COMPLAINTS HANDLING PROCEDURES COMPLAINTSAt Traders Trust, we aim to provide prompt, courteous, helpful, open and informative advice in response to
every approach made by a member of public. We are always keen to hear the views of our customers,
particularly the general public, about our performance generally - what we do right and what we do wrong.
We recognize that, as in all organizations, from time to time things can go wrong and we may not provide thestandard of service that we have set ourselves. We are especially keen to hear about such instances, since they
provide us with an opportunity to put things right and to learn from our mistakes.
Accordingly, as part of our commitment to providing the best possible service to our clients, we upholdeffective and transparent procedures for prompt complaint handling for existing and potential retail clients, we
maintain records of complaints and measures taken for complaint resolution, in line with Applicable Laws,
Rules and/or Regulations and we are pleased to operate in accordance with the complaint management
procedures of the Bermuda Laws.
We will attempt to deal with your complaint in a prompt and efficient manner. We will follow the procedures
outlined in our “Complaints Handling Procedures”, as published, from time to time, on our online Trading
Facility.
Our “Complaints Handling Procedures” are not part of these Terms and Conditions, but shall nonetheless beapplicable to all transactions among us, provided, however, that they are not intended to impose and/or do
not seek to impose any obligations on us, which we would not otherwise have.
OUR RIGHT TO PROCEED WITH THE RECOVERY OF DEBTS
Our “Complaints Handling Procedures” furthermore do not apply to money that you may owe to us.
We may take immediate action to recover any debts payable to us in court.

CHAPTER L: INDEMNITY AND LIMITATION OF LIABILITYRISK OF LOSS; LIMITATION OF LIABILITY
You understand, acknowledge and agree that you will make your own decisions to access and/or use our Online
Trading Facility or to enter into or execute any Transaction and/or Contract. You understand, acknowledge andagree that our Online Trading Facility does not and will not serve as the primary basis for any of your investment
decisions concerning your Account(s). You are solely responsible for any investment or trading decisions you
make with respect to products identified on our Online Trading Facility and neither we, nor our directors,
officers, shareholders, partners, members, employees, agents, service providers, legal representatives and/orAffiliates (together our “Associates”) shall be responsible for determining whether any Transaction enter into
is suitable, appropriate or advisable. Neither we, nor our Associates are and will be, by virtue of providing our
Online Trading Facility, an advisor or fiduciary for you or any Authorized Person.
WITHOUT PREJUDICE TO ANY OTHER PROVISIONS IN THIS AGREEMENT, OUR ONLINE TRADING FACILITY IS
PROVIDED "AS IS" AND NEITHER WE, NOR OUR ASSOCIATES, NOR ANY OF OUR THIRD PARTY SERVICEPROVIDERS MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER REGARDING (A)THE AVAILABILITY, CURRENCY, ACCURACY OR COMPLETENESS OF OUR ONLINE TRADING FACILITY; (B) THE
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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RESULTS TO BE OBTAINED BY YOU OR ANYONE ELSE FROM THE USE OF OUR ONLINE TRADING FACILITY; AND(C) ANY THIRD PARTY CONTENT ACCESSIBLE ON OR THROUGH OUR ONLINE TRADING FACILITY; NEITHER WE,NOR OUR ASSOCIATES, NOR ANY OF OUR THIRD PARTY SERVICE PROVIDERS WILL BE LIABLE TO YOU OR ANY
AUTHORIZED PERSON FOR THE CORRECTNESS, QUALITY, ACCURACY, SECURITY, COMPLETENESS, RELIABILITY,PERFORMANCE, TIMELINESS, PRICING OR CONTINUED AVAILABILITY OF OUR ONLINE TRADING FACILITY, OR
FOR ANY FAILURE OF ANY CONNECTION OR COMMUNICATION SERVICE TO PROVIDE OR TO MAINTAIN YOUR
OR ANY AUTHORIZED PERSON’S ACCESS TO OUR ONLINE TRADING FACILITY, OR FOR ANY ERRONEOUS
COMMUNICATIONS BETWEEN YOU AND US.
Without prejudice to any other provisions of the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, neither we, nor our Associates shall be liable for any
losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentationor otherwise, incurred or suffered by you or any Authorized Person as a direct or indirect result of any act oromission in the course of providing our Services to you or otherwise arising from the activities to which theseTerms and Conditions apply except such as is caused by our and/or their negligence, wilful default or fraud;
neither we, nor our Associates shall be liable for any losses, damages, costs or expenses, whether arising outof negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you or any
Authorized Person under this Agreement (including any instance where we have declined to enter into a
proposed Transaction and/or Contract), unless such losses, damages, costs or expenses are a reasonably
foreseeable consequence of, or arise directly from, our or their respective gross negligence, wilful default or
fraud. In no circumstance, shall we or our Associates have liability for losses suffered by you or any Authorized
Person for any special or consequential damage, loss of profits, loss of goodwill or loss of business opportunity
arising under or in connection with the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, whether arising out of negligence, breach of contract,misrepresentation or otherwise; neither we, nor our Associates will be liable in any circumstances for any losses
that were not a reasonably foreseeable result of breach to both you and us when these Terms and Conditions
were entered into.
You acknowledge that: (a) any market information or third party recommendations communicated to you or
any Authorized Person, by us or any Associate, does NOT constitute advice to enter into any Transaction and/or
Contract; (b) such information or recommendations, although based upon information obtained from sources
believed by us to be reliable, may be based solely on a third party's opinion and that such information may be
incomplete and may be unverified; (c) we make no representation, warranty or guarantee as to, and shall not
be responsible for, the accuracy or completeness of any information or recommendations furnished to you or
any Authorized Person; and (d) we make no representations concerning the tax implications or treatment oftrades entered intoby you pursuant to these Terms; neither we, nor our Associates accept any liability for any adverse tax
implications of any Transaction and/or Contract whatsoever.
Since we do not control signal power, its reception or routing via the internet, configuration of your equipment
or that of any third party or the reliability of its connection, neither we, nor our Associates can be responsible
for communication failures, distortions or delays when you are trading on-line (via the Internet).
Should quoting and/or execution errors occur, which may include, but are not limited to, a quote or trade which
is not representative of the then prevailing market prices, an erroneous price quote from us or any third party,
such as but not limited to an erroneous price quote due to failure of hardware, software or communicationlines or systems and/or inaccurate external data feeds provided by thirdparty vendors, neither we, nor our
Associates will be liable for the resulting errors in your Account balances. In the event of a quoting or execution
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

102error, we reserve the right to make the necessary corrections or adjustments on the Account(s) involved. Any
dispute arising from such quoting or execution errors will be resolved by us in our sole and absolute discretion.
No correspondence will be entered into.
We shall have no obligation to contact you to advise upon appropriate action in light of changes in Market
Conditions (including, without limitation, Market Disruptions) or otherwise. You acknowledge that the Market
in leveraged derivatives is highly speculative and volatile and that, following execution of any transaction, you
are solely responsible for making and maintaining contact with us and for monitoring open positions andensuring that any further instructions are given on a timely basis. In the event of any failure to do so, we cangive no assurance that it will be possible for us to contact you and we accept no liability for loss alleged to besuffered as a result of any failure by you to do so. Without limitation, neither we, nor our Associates accept any
liability by reason of any delay or change in Market Conditions before any particular Transaction is effected.
Without limitation, neither we nor any of our Associates shall be liable for any loss arising from any act oromission of any Agent, Introducing Broker, Authorized Person or other third party who performs services foryou.
Neither we, nor our Associates shall be liable to you be liable to you or any Authorized Person for any partial
or non-performance of our obligations hereunder by reason of any cause beyond our reasonable control,
including without limitation, any breakdown, delay, malfunction or failure of transmission, communication orcomputer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or
supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or
principal of our custodian, sub-custodian, dealer, Market, clearing house or regulatory or self-regulatoryorganization, for any reason whatsoever, including, without limitation Force Majeure, to perform our respective
obligations hereunder.
Nothing in this Agreement will exclude or restrict any duty or liability we may have to you be liable to you or
any Authorized Person under the regulatory system (as defined in the BERMUDA Rules), which may not be
excluded or restricted thereunder.
EXCLUSION OF WARRANTIESWITHOUT PREJUDICE TO ANY OTHER PROVISIONS OF THIS AGREEMENT, WE DO NOT MAKE ANY EXPRESSOR IMPLIED WARRANTIES ABOUT OUR ONLINE TRADING FACILITY, INCLUDING BUT NOT LIMITED TO IMPLIEDWARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. OUR
ONLINE TRADING FACILITY IS MADE AVAILABLE TO YOU "AS IS" AND "AS AVAILABLE". WE SHALL NOT BE
LIABLE FOR ANY COST OR DAMAGE ARISING EITHER DIRECTLY OR INDIRECTLY FROM THE ACCESS OR USE OFOUR ONLINE TRADING FACILITY AND IT IS SOLELY YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY,COMPLETENESS AND USEFULNESS OF ALL INFORMATION, OPINIONS, PRODUCTS, SERVICES, MERCHANDISEAND OTHER INFORMATION PROVIDED THROUGH OUR ONLINE TRADING FACILITY OR ON THE INTERNETGENERALLY. WE DO NOT WARRANT THAT ANY DEFECTS OR INACCURACIES WILL BE CORRECTED.
WE DO NOT WARRANT THAT OUR ONLINE TRADING FACILITY WILL MEET YOUR NEEDS, OR THAT IT WILL BE
UNINTERRUPTED, TIMELY, SECURE OR ERROR FREE. WE ALSO MAKE NO WARRANTY THAT THE RESULTSOBTAINED FROM THE USE OF OUR ONLINE TRADING FACILITY WILL BE ACCURATE OR RELIABLE, OR THAT THE
QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED By
YOU THROUGH OUR ONLINE TRADING FACILITY WILL MEET YOUR EXPECTATIONS.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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DISCLAIMER AND LIMITATION OF LIABILITY
Our obligations under this Agreement do not constitute personal obligations of our directors, officers,
shareholders, partners, members, employees, Associates, Affiliates, Representatives, Agents, Third Party
Service Providers and/or Third Party Content providers and/or any of them.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE WILL NOT BE LIABLE FOR ANY CONSEQUENTIAL,
INCIDENTAL, SPECIAL, DIRECT, OR INDIRECT DAMAGES (INCLUDING, BUT NOT LIMITED TO LOSTPROFITS, TRADING LOSSES OR DAMAGES THAT RESULT FROM USE OR LOSS OF USE OF OUR ONLINE TRADING
FACILITY AND THIRD PARTY CONTENT, INCONVENIENCE OR DELAY). THIS IS TRUE EVEN IF SUCH DAMAGESWERE FORESEEABLE OR WHETHER EITHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSESOR DAMAGES).
EXCEPT AS OTHERWISE REQUIRED BY LAW, WE WILL NOT BE LIABLE TO YOU OR ANYONE ELSE FOR ANY LOSSRESULTING FROM A CAUSE OVER WHICH WE DO NOT HAVE DIRECT CONTROL. THIS INCLUDES FAILURE OF
ELECTRONIC OR MECHANICAL EQUIPMENT OR COMMUNICATIONS LINES (INCLUDING TELEPHONE, CABLE
AND INTERNET), UNAUTHORIZED ACCESS, VIRUSES, THEFT, OPERATOR ERRORS, SEVERE OR
EXTRAORDINARY WEATHER (INCLUDING FLOOD, EARTHQUAKE, OR OTHER ACT OF GOD), FIRE, WAR,
INSURRECTION, TERRORIST ACT, RIOT, LABOUR DISPUTE AND OTHER LABOUR PROBLEMS, ACCIDENT,
EMERGENCY OR ACTION OF GOVERNMENT.
ANY LIABILITY ARISING UNDER THIS AGREEMENT WILL BE SATISFIED SOLELY FROM THE REVENUES
GENERATED HEREUNDER. IN NO EVENT SHALL OUR LIABILITY HEREUNDER EXCEED THE TOTAL AMOUNT OFREVENUES GENERATED HEREUNDER THE SIX (6) MONTH PERIOD PRECEDING THE EVENT GIVING RISE TO THE
CLAIM, EVEN IF YOU or US WERE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND EVEN IF THE LIMITEDREMEDIES PROVIDED HEREIN FAIL OF THEIR ESSENTIAL PURPOSE.
INDEMNIFICATIONAs a condition of your use of our Online Trading Facility, you agree to indemnify and hold us, our Associates,
Affiliates, Representatives, Agents, Third Party Service Providers and Third Party Content providers from andagainst any and all claims, losses, liabilities, costs and expenses, whether arising out of negligence, breach ofcontract, misrepresentation or otherwise, including reasonable attorneys’ fees, arising from or connected toany violation or breach of these Terms and Conditions (including negligent or wrongful conduct) by you or any
other Person accessing and/or using our Online Trading
Facility.
You shall pay to us such sums as we may from time to time require in or towards satisfaction of any debit
balance on any of your Accounts with us and, on a full indemnity basis, any liabilities, losses, damages, costs
or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, including
reasonable attorneys’ fees, taxes, imposts and levies which we may incur or be subjected to with respect toany of your accounts or any Transaction and/or Contract or any matching Transaction and/or Contract with anintermediate broker or as a result of any misrepresentation by you or any violation by you of your obligations
under this Agreement (including any Transaction and/or Contract) or by the enforcement of our rights.
You will be responsible for all Orders entered on your behalf via our Online Trading Facility and you will be fully
liable to us for the settlement of any Transaction and/or Contract arising therefrom.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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You will defend, indemnify and hold us and our directors, officers, shareholders, partners, members,
employees, Associates, Affiliates, Representatives, Agents, Third Party Service Providers and/or Third Party
Content providers and/or any of them, harmless from and against all liabilities, losses, damages, costs or
expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, including
reasonable attorneys’ fees, which we may incur or suffer as a result of:• any error in any instruction given by an Authorized Person; or• acting on any instruction, which is, or appears to be, from an Authorized Person.
INDEPENDENT INVESTIGATIONYOU ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT AND AGREE TO ALL ITS TERMS AND
CONDITIONS. YOU HAVE INDEPENDENTLY EVALUATED THE MERITS AND RISKS OF ACCESSING AND/OR USINGOUR ONLINE TRADING FACILITY AND ENTERING INTO TRANSACTIONS AND CONTRACTS VIA OUR ONLINETRADING FACILITY AND YOU HAVE DONE SO WITHOUT RELYING ON ANY INFORMATION CONTAINED ON, OR
IN OUR ONLINE TRADING FACILITY AND/OR OTHERWISE PROVIDED BY US IN RELATION AND ARE NOTRELYING ON ANY REPRESENTATION, GUARANTEE OR STATEMENT OTHER THAN AS SET FORTH IN THISAGREEMENT.
YOU HAVE INDEPENDENTLY EVALUATED THE LAWS IN YOUR LOCAL JURISDICTION WHICH APPLY TO YOUR
ACTIVITIES HEREUNDER AND YOU REPRESENT AND WARRANT THAT YOU MAY PARTICIPATE IN OUR ONLINETRADING FACILITY AND ENTER INTO TRANSACTIONS AND CONTRACTS VIA OUR ONLINE TRADING FACILITY,WITHOUT VIOLATING ANY APPLICABLE RULES OR LAWS.

CHAPTER M: DEFAULT
Each and any of the following events shall constitute an Event of Default: (a) you fail to make any payment
when due under this Agreement or to make or take delivery of any property when due under, or to observe or
perform any other provision of the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, and such failure continues for one Business Day after notice of nonperformance has been given; (b) you fail to remit funds necessary to enable us to take delivery under any
Transaction and/or Contract on the first due date; (c) you fail to provide assets for delivery, or take delivery ofassets, under any Transaction and/or Contract on the first due date; (d) you die, become of unsound mind, areunable to pay your debts as they fall due or are bankrupt or insolvent, as defined under any bankruptcy or
insolvency law applicable to you; or any indebtedness of yours is not paid on the due date therefore, or
becomes capable at any time of being declared, due and payable under agreements or instruments evidencing
such indebtedness before it would otherwise have been due and payable, or any suit, action or otherproceedings relating to this Agreement are commenced for any execution, any attachment or garnishment, or
distress against, or an encumbrance takes possession of, the whole or any part of your property, undertaking
or assets (tangible and intangible); (e) you commence a voluntary case or other procedure seeking or proposing
liquidation, reorganization, an arrangement or composition, a freeze or moratorium, or other similar relief withrespect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including
any corporate or other law with potential application to you, if insolvent), or seeking the appointment of atrustee, receiver, liquidator, conservator, administrator, custodian or other similar official (each a “Custodian”)
of you or any substantial part of your assets, or if you take any corporate action to authorize any of theforegoing, and in the case of a reorganization, arrangement or composition, we do not consent to the
proposals; (f) an involuntary case or other procedure is commenced against you seeking or proposing
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

105liquidation, reorganization, an arrangement or composition, a freeze or moratorium, or other similar relief withrespect to you or your debts under any bankruptcy, insolvency, regulatory, supervisory or similar law (including
any corporate or other law with potential application to you, if insolvent) or seeking the appointment of a
Custodian of you or any substantial part of your assets and such involuntary case or other procedure either (i)has not been dismissed within five (5) Business Days of its institution or presentation or (ii) has been dismissed
within such period but solely on the grounds of an insufficiency of assets to cover the costs of such case orother procedure; (g) an application is made in respect of you for an interim order or if a bankruptcy petition ispresented in respect of you or, in the case of a partnership, in respect of one or more of the partners, or if acompany, a receiver, trustee, administrative receiver or similar officer is appointed; (h) in the case of a Legal
Entity, a petition is presented for your winding-up or administration, or an order is made or a resolution ispassed for the your winding-up or administration of the client (other than for the purposes of amalgamation
or reconstruction with our prior written approval); (I) any distress, execution or other process is levied against
any of your property and is not removed, discharged or paid within seven (7) calendar days; (j) any Security
created by any mortgage or charge becomes enforceable against you and the mortgagee or Custodian takes
steps to enforce the Security or charge; any of your indebtedness or any the indebtedness of any of yoursubsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior toits stated maturity by reason of your or any of your subsidiaries’ default, or you or any of your subsidiaries failto discharge any indebtedness on its due date; you or any Credit Support Provider (or any Custodian acting on
behalf of either of you or a Credit Support Provider) disaffirms, disclaims or repudiates any obligation under
this Agreement or any guarantee, hypothecation agreement, Margin or Security agreement or document, or
any other document containing an obligation of a third party (“Credit Support Provider”), or of you, in ourfavour supporting any of your obligations under this Agreement (each a “Credit Support Document”); (m) you
fail to comply with any obligations set forth in these Terms and Conditions or in any Transaction and/or
Contract, including failure to meet Margin requirements; (k) any representation or warranty made or given or
deemed made or given by you under this Agreement or any Credit Support Document proves to have been
false or misleading in any material respect as at the time it was made or given or deemed made or given, or
becomes untrue; (n) any Credit Support Provider fails, or you yourself fail to comply with or perform any
agreement or obligation to be complied with or performed by you or it in accordance with the applicable Credit
Support Document; (o) any Credit Support Document expires or ceases to be in full force and effect prior to
the satisfaction of all your obligations under the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, unless we have agreed in writing that this shall not
be an Event of Default; (p) any representation or warranty made or given or deemed made or given by any
Credit Support Provider pursuant to any Credit Support Document proves to have been false or misleading in
any material respect as at the time it was made or given or deemed made or given; (q) any event referred toin paragraphs (b) to (d) or (h) of this sub-clause occurs in respect of any Credit Support Provider; (r) you are
dissolved, or, if your capacity or existence is dependent upon a record in a formal register, the registration isremoved or ends, or any procedure is commenced seeking or proposing your dissolution, removal from such aregister, or the ending of such a registration; (s) where you or your Credit Support Provider is a partnership,
any of the events referred to in the preceding paragraphs occurs in respect of one or more of your or its
partners; (t) we consider it necessary or desirable to prevent what we consider is or might be a violation of any
Applicable Laws, Rules and Regulation or good standard of market practice; (u) we consider it necessary or
desirable for our own protection or any action is taken or event occurs which we consider might have a material
adverse effect upon our, respectively your ability to perform any of our, respectively your obligations under thisAgreement; (v) any Event of Default (however described) occurs in relation to you under any other agreement
between us which you are a party to or any other event specified for these purposes in the Agreement and/or
any agreements by and between us, including, without limitation, these Terms and Conditions, or otherwise,

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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occurs; (w) we or you are requested to close out a Transaction and/or Contract (or any part of a Contract) by
any regulatory agency or authority; (x) we are obliged to do so by operation of law.
RIGHTS ON DEFAULT
Upon the existence of an ‘Event of Default’, we shall, at our sole discretion, without prejudice to any otherrights we may have under the Agreement and/or any agreements by and between us, including, without
limitation, these Terms and Conditions, be entitled to: (a) sell or charge in any way any or all of your Security,
Collateral, Assets and property which may from time to time be in our possession or control of or call on any
guarantee; (b) purchase any Security, investment or other property where this is, or is in our reasonable opinion
likely to be, necessary in order for us to fulfil our or your obligations under any Transaction and/or Contract; inthis case you shall reimburse to us the full amount of the purchase price plus any associated costs andexpenses; (c) close out, replace or reverse any Transaction and/or Contract, buy, sell, borrow or lend or enter
into any other Transaction and/or Contract, or take, or refrain from taking, such other action at such time ortimes and in such manner as, at our sole discretion, we consider necessary or appropriate to cover, reduce or
eliminate our loss or liability under or in respect of any of your Transactions, Contracts, positions orcommitments, deliver any Security investment or property to any third party, or otherwise take any action we
considers being necessary or desirable in order to close out any Transaction and/or Contract; (d) require you
immediately to close out and settle such Transactions and/or Contracts in such manner as we may, at our sole
discretion request; (e) enter into any foreign exchange transaction, at such rates and times as we may
determine, in order to meet obligations incurred under a Transaction and/or Contract; (f) invoice back all orpart of any Assets and/or Collateral standing to the debit or credit of any Account; (g) instead of returning to
you investments equivalent to those credited to your account, to pay to you the fair market value of suchinvestments at the time we exercise such right; and/or (h) take all action as we see fit, including, without
limitation, completely blocking access to our Online Trading Facility, blocking and/or revoking your Access
Codes and/or terminating your Account(s).
You hereby authorize us to take all or any measures described in this Section without prior notice to you andyou acknowledge and agree that we shall not be responsible for any consequences of us taking any such
steps, unless we have exercised gross negligence in connection herewith. In these circumstances, you shall
execute such documents and take such other action as we may reasonably request in order to protect ourrights under these Terms and Conditions or within the scope of any other agreements between you and us.
If we exercise our rights to sell any of your Securities or property pursuant to this Section, we will effect suchsale, without notice or liability to you, on your behalf and apply the proceeds of sale in or towards dischargeof any or all of your obligations to us.
Without prejudice to our other rights under and/or pursuant to the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, we may, at any time and without notice,
combine or consolidate all or any of your Accounts with us and offset any amounts owed to or by us in suchmanner as we may determine at our sole discretion.
Our rights under this Section shall be in addition to, and not in limitation or exclusion of, any other rights which
we may have (whether by agreement, operation of law or otherwise).

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Where termination and liquidation occur in accordance with this Section, we shall also be entitled, at ourdiscretion, to terminate and liquidate, in accordance with the provisions of this clause, any othertransactions entered into between us, which are then outstanding.

CHAPTER N: TERMINATION OF CLIENT RELATIONSHIP AND LIQUIDATION OF ACCOUNTSTERMINATION OF CLIENT RELATIONSHIP
Without prejudice to any other provisions of the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, in particular, but without limitation, those pertaining
to Events of Default, our client relationship under this Agreement shall remain in force until terminated byeither Party.
Unless required by Applicable Laws, Rules and/or Regulations either Party may terminate this Agreement (andthe relationship between us) by giving seven (7) calendar days’ written notice of termination to the other.
We may terminate this Agreement with immediate effect and without prior notice being required, however, if
you fail to observe or perform any provision of the Agreement and/or any agreements by and between us,
including, without limitation, these Terms and Conditions, or in case of an Event of Default, other than in thecase of Force Majeure.
EFFECTS OF TERMINATION OF CLIENT RELATIONSHIP
Upon terminating the Agreement and/or any agreements by and between us, including, without limitation,these Terms and Conditions, all amounts payable by you to us will become immediately due and payable
including (but without limitation): (a) all outstanding fees, charges and commissions; (b) any dealing expenses
incurred by terminating this Agreement; and (c) (c) any losses and expenses realized in closing out any
Transaction or Contract, or settling or concluding outstanding obligations incurred by us on your behalf.
On termination, we shall complete all Transactions and/or Contracts that are already entered into or under
execution and these Terms and Conditions shall continue to bind both parties in relation to such Transactions
and/or Contracts. We shall be entitled to deduct all amounts due to us before transferring any credit balanceson any Account(s) to you and we shall be entitled to postpone such transferring until any and all Transactions
and/or Contracts between you and us are closed. Furthermore, we shall be entitled to require you to pay any
charges incurred in transferring your investments.
Termination shall not affect then outstanding rights and obligations (in particular, without limitation, relating
to the Indemnities and Limitation of Liability Clauses and the Miscellaneous and Governing Law Clauses) andTransactions and/or contracts which shall continue to be governed by this Agreement and the particular clauses
agreed upon by and between you and us in relation to such Transactions and/or Contracts, until all obligations
have been fully performed.
In the event that you involve us, directly or indirectly, in any type of fraud, we reserve the right, at our sole
discretion and without prejudice to any other rights we may have under the Agreement and/or any agreements
by and between us, including, without limitation, these Terms and Conditions, to reverse all previous
Transactions and/or Contracts, which would or could place our interests and/or any of our (other) clients’interests at risk.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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IN THE EVENT OF DEATH
In the event of the client’s death, any person(s) purporting to be the client’s legal personal representative(s) or
surviving joint account holder must provide us with formal notice of the client’s death in a form acceptable tous, including but not limited to the provision of an original death certificate in physical form.
These sections will only apply if the deceased client is a sole account holder (including where the client is thesole surviving account holder following the earlier death of a joint account holder). In the event of death of a
joint account holder (who is not the sole surviving joint account holder).
Upon the receipt and acceptance of the client’s death certificate, we will treat the client’s death as an Event of
Default allowing the Company to exercise any of its rights, including, but not limited to, closing any and allOpen Positions within the client’s Account; the Agreement will continue to bind the deceased client’s estate
until terminated by the deceased client’s legal personal representative or by us in accordance with these Terms
and Conditions.
Where we provide the deceased client with an execution-only dealing service, we will be under no obligation
to assume management of the deceased client’s Account following his or her death.
Where we provide the deceased client with an advisory service, we will terminate such service upon receipt of
the client’s death certificate; we will NOT provide investment advice to the client’s legal personal
representative.
Where we provide the deceased client with a Discretionary Investment Management Service, we (but shallNOT be obliged) continue to manage the client’s investment in accordance with the investment mandate
established for the Account until such time as we are provided with instructions to the contrary by the client’s
proven legal personal representative(s); we may make such decision in our sole and absolute discretion.
A person shall not be proven to be the deceased client’s legal personal representative until we receive a grantof representation for the client’s estate; once we receive the grant of representation for the client’s estate, wewill carry out the written instructions from the client’s legal personal representative(s); we will only accept
instructions that aim to wind-down and/or close the Account; no registered asset may be sold until any reregistration process is completed and all fees, charges and expenses which may be owed by the client to us areaccounted and paid for; where we have not received any instructions after six (6) months following receipt of
the client’s death certificate, we may (but shall not be obliged) re-register the deceased client’s holdings into
the name of its legal personal representative, re-materialize any electronic holdings and send such holdings incertificated form to the registered correspondence address for the deceased client’s estate, subject toappropriate charges detailed from time to time in the Commission, Charges & Margin Schedule that is posted
from time to time on our Online Trading Facility, as the same may be amended from time to time.
If the client’s estate is too small to warrant a grant of representation, we may in our sole and absolute
discretion, require any person(s) purporting to be the client’s legal personal representative(s) to obtain a grantof representation or request an appropriate indemnity.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Any applicable charges, as detailed in the Commission, Charges & Margin Schedule that is posted from time totime on our Online Trading Facility, as the same may be amended from time to time, will still be charged until
the Account is closed.
Notwithstanding anything in the Agreement, if the Agreement is not terminated within two years after thedate of the client’s death, we may take such action as we consider appropriate to close the client’s Account;the client’s estate or its legal personal representative(s) will be liable for all costs associated with us taking thisaction, or considering taking action, except to the extent that costs arise because of our negligence, wilful
default or fraud.

CHAPTER O: MISCELLANEOUS PROVISIONSASSIGNMENTThe terms, conditions and obligations of the Agreement and/or any agreements by and between us, including,
without limitation, these Terms and Conditions, shall inure to the benefit of and be binding upon the Parties
and their respective, Affiliates, successors and assigns.
We shall be entitled to assign its rights and benefits under the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, without any prior consent being
required, to any Affiliate or subsidiary belonging to our group of companies.
You may not, without our prior written consent, transfer this Agreement or any interest or obligation in or
under this Agreement and any purported transfer without such consent shall be null and void.
Following such consent to the transfer of any interest or obligation under the Agreement and/or any
agreements by and between us, including, without limitation, these Terms and Conditions, you shall remain
jointly and severally responsible for the performance of all of the transferee’s obligations under this Agreement.
TIME OF ESSENCE
Time shall be of the essence in respect of all obligations of yours under this Agreement (including, without
limitation, those pertaining to any Transaction and/or Contract).
NOTICESYou must ensure that at all times we are able to communicate with you by telephone, fax or e-mail.
Except as specified otherwise in this Agreement and without prejudice to any such other provisions of theAgreement and/or any agreements by and between us, including, without limitation, these Terms andConditions, all notices, declarations, demands, requests, and other communications required under, orotherwise referred to in, this Agreement shall be in writing and shall be sufficient for all purposes if personallydelivered or if sent by prepaid ‘overnight delivery’ via DHL/FEDEX/UPS or any other internationally recognized
air courier or if sent by facsimile with a confirmation copy sent by air mail, or if sent by e-mail, and in any caseaddressed to the respective Parties at their address, as the case may be, provided on our Online Trading Facilityor on your Account Opening Application Form, or at such other address as such Party may hereafter designate
by notice to each of the other Parties as herein provided.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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If personally delivered in the form specified herein, notices, declarations, demands, requests, and othercommunications under this Agreement shall be deemed to have been given and received and shall be effective
when personally delivered.
If sent by e-mail in the form herein specified, notices, declarations, demands, requests, and othercommunications under this Agreement shall be deemed to have been given and received and shall be effective
when received in fully legible form by the Party to which the notice is addressed, which shall be deemed tooccur upon completion of the e-mail transmission unless: (a) such transmission is made on a day which is nota day (except any Saturday or Sunday) on which banks in Bermuda are open for business (a “Business Day”) oron a Business Day, but outside regular business hours, in which case the notice shall be deemed received at
9:00 A.M. on the next succeeding Business Day; or (b) the Party to which the notice is addressed then notifies
the other Party by return mail, telex or facsimile that the copy received is illegible in whole or in part.
If sent by prepaid ‘overnight delivery’ via DHL/FEDEX/UPS or any other internationally recognized air courier inthe form specified therein, notices, declarations, demands, requests, and other communications under thisAgreement shall be deemed to have been given and received and shall be effective no later than four (4)calendar days after deposit with such air courier or when actually received, whichever first occurs.
If sent by facsimile in the form herein specified, notices, declarations, demands, requests, and othercommunications under this Agreement shall be deemed to have been given and received and shall be effective
when received in fully legible form by the Party to which the notice is addressed, which shall be deemed tooccur upon completion of the transmission unless: (a) such transmission is made on a day which is not a
Business Day or on a Business Day but outside regular business hours, in which case the notice shall be deemed
received at 9:00 A.M. on the next succeeding Business Day; or (b) the Party to which the notice is addressed
then notifies the other Party by return telex or facsimile that the copy received is illegible in whole or in part.
Such notice or other communication will be deemed effective if in writing and delivered in Person or by courier,on the date it is delivered or if sent by facsimile transmission, on the date that transmission is received by therecipient, or if sent by registered mail or the equivalent, on the date that mail is delivered or if sent by e-mailon the date that e-mail is delivered, unless the date of delivery (or attempted delivery) or the date of receipt,
as applicable, is not a Business Day or the communication is delivered (or attempted to be delivered) or
received, as applicable, after the close of business on a Business Day, in which case that communication shallbe deemed given and effective at 9:00 A.M. on the first following day that is a Business Day.
The Parties Agree that the delivery of any summons and complaint, and other process, which may be servedin any suit, action or other proceeding, may be made by mailing via certified or registered mail or by handdelivering such summons, complaint or other process to the other Party at the address of such Party specified
hereinabove.
Rejection or other refusal to accept, or the inability to deliver of a notice, summons, complaint or other process
referred to hereinabove, because of changed address of which no proper notice was given, shall not affect theeffectiveness or the date of delivery for any notice sent in accordance with the foregoing provisions. Each such
notice, request or other communication shall be deemed as sufficiently given, served, sent and received for all
purposes, at such time that it is delivered to the address (with return receipt, the delivery receipt, the affidavitof the messenger or the answer back being deemed conclusive (but not exclusive) evidence of such delivery)
or at such time as delivery is refused by addressee upon presentation.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

111

Communications may be made to the client at such address, telephone, facsimile or e-mail address notified
from time to time to us for this purpose.
Unless otherwise agreed in writing, all communications shall be made in the English language and shall beserved by sending them by prepaid first class post, e-mail or facsimile transmission or by delivering it by handto the address for the time being of the addressee.
Any such notice sent by:
1. post shall be deemed to have been served, in the case of service in Bermuda forty-eight (48) hours
after despatch and, in the case of service outside Bermuda, seven (7) days after dispatch,
2. facsimile shall be deemed to have been served at the time of receipt of a positive transmission noticeby the sender,
3. e-mail shall be deemed to have been served when received at the destination site or the addressadvised by recipient to the sender to be its e-mail address.
In proving service, it will be sufficient to prove:••••in the case or a letter, that it was properly stamped, addressed and placed in the post,in the case of a facsimile transmission, that it was fully despatched to a current or facsimile number of
the addressee and,in the case of e-mail, that the sender has received a valid message confirmation delivery.
You must ensure that we will be able to communicate with you or your appointed representative at all
times by telephone, facsimile or e-mail.

Communications may be made to us at the address and telephone number notified to you for this purpose andshall be considered to have been duly made only upon their actual receipt by us.
You may alter your communication details by giving us notice in writing in the format and in accordance withthe terms set forth in the Agreement.
GOVERNING LAW AND JURISDICTION
This Agreement shall be governed by and construed in accordance with Bermuda Law and, subject to thedispute resolution provisions set forth hereinafter, you irrevocably agree for our exclusive benefit that the
courts of Bermuda are to have jurisdiction to settle any disputes which may arise out of or in connection withthis Agreement and that accordingly any proceedings may be brought in such courts.
Nothing contained in this Section shall, however, limit our right to take proceedings against you or any Traderin any other court of competent jurisdiction, nor shall the taking of proceedings in one or more jurisdictions
preclude the taking of proceedings in any other jurisdiction, whether concurrently or not, to the extent
permitted by the law of such other jurisdiction.
DISPUTE RESOLUTION
In the event of any dispute arising out of or in relation to the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, the Parties must first use their
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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respective best endeavours to consult and negotiate with each other, in good faith and, recognizing theirmutual interests, attempt to reach a just and equitable settlement of the dispute satisfactory to both Parties.
To such end the Parties must, within seven (7) Business Days of a dispute arising convene a meeting between
Persons nominated by each Party (the “Appointed Persons”) and other relevant members of management toattempt to resolve the dispute.
If the Appointed Persons agree upon a resolution or disposition of the dispute, they will sign a statement settingout the terms of the resolution or disposition and the Parties will ensure that the resolution or disposition is
fully and promptly carried out.
If the Appointed Persons do not reach such a settlement within a further period of fourteen (14) Business Days
(the “Final Negotiation Date”), the dispute will be managed in accordance with provisions set forth hereinafter.
In the event of any dispute arising out of or in relation to the Agreement and/or any agreements by andbetween us, including, without limitation, these Terms and Conditions, if the dispute is not resolved and/or be
settled prior to the Final Negotiation Date, it shall upon the initiation of either Party be referred to binding
arbitration to be conducted in accordance with Arbitration Rules of the Bermuda Laws and Regulations.
Each Party will have the right to appoint an arbitrator and the two arbitrators appointed by the Parties will
appoint a third arbitrator in accordance with the Arbitration Rules; no Person shall be appointed as anarbitrator hereunder unless such Person is unrelated to either Party, is fluent in the English language and has
experience in ‘OTC Finance’ matters.
The arbitration procedures, both written and oral, will, be conducted in English with the place of arbitration
being Bermuda.
The arbitral reward shall be final and binding upon the Parties to this Agreement and the Parties to thearbitration agree to carry out such award without delay; any arbitral award made hereunder may be enteredinto a court of competent jurisdiction for execution thereof; the cost, fees and expenses of counsel to eachParty, shall be subject to equitable allocation by the arbitrators.
If there is a conflict between the Arbitration Rules and the provisions of the Agreement and/or any agreements
by and between us, including, without limitation, these Terms and Conditions, the provisions of the Agreement
and/or any agreements by and between us, including, without limitation, these Terms and Conditions, shallprevail.
INTERIM RELIEF - INJUNCTIVE RELIEF
Nothing provided in these Sections shall prevent either Party from applying to court for interim or injunctive
relief.
Each party acknowledges that a breach of the provisions of this Agreement may cause the other Party
irreparable injury and damage and, therefore, any such breach may be enjoined through injunctive
proceedings, in addition to any other rights and remedies that may be available to either Party as per applicablelaw or in equity.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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CONTROLLING LANGUAGE
This Agreement and all other agreements and/or documents executed on the basis of this Agreement shall be
written and interpreted in English. In the event that this Agreement has been translated into a language otherthan English, it is the English version that will be prevailing and controlling in the event of any discrepancy.
FORCE MAJEURE
We shall not be in breach of this Agreement and shall not be liable or have responsibility of any kind for any
loss or damage incurred by you as a result of any total or partial failure, interruption or delay in the performanceof this Agreement occasioned by any act of God, fire, war, civil commotion, labour dispute, act of government,
state, governmental or supranational body or authority, or any investment exchange and/or clearing house,inability to communicate with market makers for whatever reason, failure of any computer dealing system, anyother breakdown or failure of transmission in communication facilities of whatever nature, between us andyou or any other third-party whatsoever, or any other reason (whether or not similar in kind to any of theabove) beyond our reasonable control (a “Force Majeure Event”).
You acknowledge and agree that we may in its reasonable opinion, determine that a Force Majeure Event exists
or is about to occur; as the case may be, we will inform you as soon as reasonably practicable if it so determines.
If we determines that a Force Majeure Event exists or is about to occur then it may (without prejudice to any
other rights under this Agreement and at its sole discretion) take such action as it deems necessary or
appropriate in the circumstances, having regard to Your and Your customers, and neither we, nor any of its
directors, officers, employees, agents or advisers will be liable for any failure, hindrance or delay in performing
its obligations under this Agreement or for taking or omitting to take any action pursuant to this subparagraph.
MANIFEST ERRORS“Manifest Error” means a manifest or obvious misquote by us, or any Market, exchange, price providing bank,information source, commentator or official on whom we reasonably rely, having regard to the current market
conditions at the time an Order is placed. When determining whether a situation amounts to a Manifest Error,
we may take into account all information in its possession including, without limitation, information concerning
all relevant market conditions and any error in, or lack of clarity of, any information source or announcement.
We will, when making a determination as to whether a situation amounts to a Manifest Error, act fairly towards
you, but the fact that you may have entered into, or refrained from entering into, a corresponding financial
commitment, contract or Transaction in reliance on an Order placed with us (or that you have suffered or may
suffer any loss of profit, consequential or indirect loss) shall not be taken into account by us in determining
whether there has been a Manifest Error.
We reserve the right, without prior notice and at our sole discretion, to: amend the details of such a Transaction
to reflect what we consider in our discretion, acting in good faith, to be the correct or fair terms of such
Transaction absent such Manifest Error(s); if you do not promptly agree to any amendment made under thisSection, we may void, from its inception, any Transaction resulting from or deriving from a Manifest Error;
and/or refrain from taking any action at all to amend the details of such a Transaction or void such Transaction.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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We shall not be liable to you for any loss, cost, claim, demand or expense you may suffer (including loss of
profits or any indirect or consequential losses) resulting from a Manifest Error or our decision to enforce thedetails of a Transaction notwithstanding any Manifest Error, except to the extent caused by our own fraud,wilful default or gross negligence.
In the event that a Manifest Error is made by any Market, exchange, price providing bank, information source,commentator or official on whom we reasonably rely, we will not be liable to you for any loss, cost, claim,
demand, or expense, except to the extent caused by our own fraud, wilful default or negligence.
NO WAIVER
No failure on the part of any Party to exercise, and no delay on its part in exercising, any right or remedy under
this Agreement shalloperate as a waiver thereof, nor shall any single or partial exercise of any right or remedy
preclude any other or further exercise thereof or the exercise of any other right or remedy.
The failure of a Party at any time to require performance of any provision of this Agreement shall not in any
way affect the validity of this Agreement or any part thereof, nor the right of that Party to require performanceof that provision or any other provision of this Agreement in the future.
All waivers by us must be in writing.
CUMULATIVE REMEDIESAll remedies available to either Party for breach of this Agreement are cumulative and may be exercised
concurrently or separately, and the exercise of any one remedy shall not be deemed an election of such
remedy to the exclusion of other remedies.
COMPLIANCE WITH BERMUDA RULES
Unless otherwise permitted by the ‘BERMUDA Rules’ or any other Applicable Laws and Regulations, nothing inthis Agreement shall be taken to exclude or restrict our obligations under the ‘BERMUDA Rules’ or any other
Applicable Laws and Regulations.
We shall be entitled to take any action as we consider necessary in our absolute discretion to ensurecompliance with the ‘BERMUDA Rules’ or any other Applicable Laws and Regulations and such actions shall bebinding on you and shall not render us or any of our directors, officers, employees or agents liable.
EXCLUSION OF THIRD PARTY RIGHTS
Except as expressly otherwise provided herein, this Agreement is being entered into solely for the benefit of
the Parties hereto and their successors and permitted assigns and intended and/or designated Affiliates.
It may not be relied upon by any other Person as the basis for any claim or dispute against one or both Parties,
or as evidence of the rights or obligations of one or both Parties hereto with respect to such other Person.
To the extent that any term or provision of this Agreement grants rights to or contemplates, permits, or requires
performance of and/or by any Affiliate of a Party, such Affiliate shall be considered to be an intended third
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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party beneficiary of this Agreement and such Party shall cause such Affiliate to perform each and every of suchobligations of such Party under this Agreement in accordance with the terms and conditions hereof.
INDEPENDENT PARTIES/NO PARTNERSHIP OR JOINT VENTURE
Neither this Agreement nor the performance of any services by either Party hereunder will be construed tocreate a joint venture or partnership between the Parties. For all purposes of this Agreement andnotwithstanding any provision of this Agreement to the contrary, you are an independent third-party and is
not a partner, joint venture partner, or representative agent of us.
You will not bind nor attempt to bind us any agreement or contract.
As an independent third-party, you are solely responsible for all taxes, withholdings, and other statutory or
contractual obligations of any sort.
COUNTERPARTS
This Agreement may be executed in any number of counterparts, each of which when executed and deliveredis an original, but all of the counterparts together constitute the same document. All counterparts shallcollectively constitute a single agreement and it shall not be necessary in any proof of this Agreement toproduce or account for more than one counterpart.
SURVIVAL
The provisions of this Agreement pertaining to either Party’s (a) Representations, Warranties and Covenants,(b) fiduciary duties, (c) confidentiality obligations, (d) acknowledgements, (e) liabilities and responsibilities, aswell as (f) Chapters J, K, L and M of this Agreement shall survive the expiration of the term and/or thetermination of this Agreement for any reason.

SCHEDULE A: BUSINESS TERMS FOR ROLLING SPOT FOREX
SCOPEThis SCHEDULE A supplements and amends the Terms and Conditions as expressly provided below. In the eventof any conflict or inconsistency between the Terms and Conditions and this SCHEDULE A, the provisions in thisSCHEDULE A shall prevail. You acknowledge and agree that, by subscribing to these Terms and Conditions.
Schedule A together with the main body of the Terms and Conditions shall govern the relationship between
you and us when you enter into a ‘Rolling Spot Forex Contract’ (defined below), the Order for which is placedon a quote provided by us (either through our Online Trading Facility or via telephone).
DEFINITIONS
Words or phrases defined in the main body of the Terms and Conditions shall be assigned the same meaning
in this SCHEDULE A unless otherwise defined.
In this SCHEDULE A, the following words and phrases shall, unless the context otherwise requires, have thefollowing meanings and may be used in the singular or plural as appropriate:
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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“Rolling Spot Forex Contract”, when used in this SCHEDULE A, unless the context requires otherwise, shallmean any Transaction in rolling spot foreign exchange, the Order for which is placed on a quote provided by us(either through our Online Trading Facility or via telephone);“Roll-Over Fee”, when used in this SCHEDULE A, unless the context requires otherwise, shall have the meaning
given to it in SCHEDULE A.
OPENING ROLLING SPOT FOREX CONTRACTS
A Rolling Spot Forex Contract will only be formed when you provide us with an instruction to place an Orderon a quote provided by us (either through our Online Trading Facility or via telephone), and we execute theinstruction in accordance with these Terms and Conditions.
You may cancel an Order at any time by providing notice to us unless and until the Order has been executed inwhole or in part, only if the Order is an Entry Order. If an Order has been executed in whole or in part, it will
not be possible for you to cancel the Order to the extent that the Order has been executed. If an Order is aMarket Order, it will not be possible for you to cancel the Order at any time.
For Accounts where you are using the Non-Hedging Setting, if you: give an Order to open a long position in
relation to a currency pair on an Account where at that time you have on that Account a short position in
relation to the same currency pair; or give an Order to open a short position in relation to a currency pair where
you already have a long position in relation to the same currency pair; then we will treat your instruction to
open the new position as an instruction to close the existing position to the extent of the size of the newposition. If the new position is greater in size than the existing position, then the existing position will be closed
in full and a new Rolling Spot Forex Contract will be opened in relation to the excess size of the new position.
For Accounts where you are using the Hedging Setting, if you: give an Order to open a long position in relation
to a currency pair on an Account where at that time you already have on that Account a short position in
relation to the same currency pair; or give an Order to open a short position in relation to a currency pair where
you already have a long position in relation to the same currency pair; then we will NOT treat your instruction
to open the new position as an instruction to close the existing position.
CLOSING A ROLLING SPOT FOREX CONTRACT
On any Business Day on which you wish to close any Rolling Spot Forex Contract (whether in whole or in part),
you may give a Closing Notice to us specifying the Rolling Spot Forex Contract you wish to close, the related
currency pair, the Contract Quantity and the Closing Date.
Following receipt of a Closing Notice, we shall inform you of the Closing Price of the Rolling Spot Forex Contract
and the Rolling Spot Forex Contract will be closed at that price on the Closing Date. Any amounts payable by
you to us as a result of the closed Rolling Spot Forex Contract are immediately due and payable on the Closing
Date. Conversely, any amounts payable by us to you as a result of the closed Rolling Spot Forex Contract are
immediately due and payable on the Closing Date, and will be deposited into your Account.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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ROLLOVER
A Rolling Spot Forex Contract is generally considered an open-ended contract with no definitive close date.
Open ended Rolling Spot Forex Contracts will roll over each trading day until you instruct us to close the Rolling
Spot Forex Contract (and we accept and act on that instruction).
For the purposes of determining and fulfilling your obligations with respect to a Rolling Spot Forex Contract,
including but not limited to your Margin obligations under these Terms and Conditions, a Rolling Spot Forex
Contract shall be deemed to be a single Rolling Spot Forex Contract which is initiated when the Rolling Spot
Forex Contract is first opened and closed when you instruct us to close the Rolling Spot Forex Contract (and we
accept and act on that instruction).
We reserve the right to discontinue a rolling Market facility at any time. We will notify you as soon as isreasonably practicable should we decide for whatever reason to discontinue the roll over facility.
Where you enter into a Rolling Spot Forex Contract via an Order, which is placed on a quote provided by us(either through our Online Trading Facility or via telephone), and you roll that contract from one day to thenext, we will charge you a Roll-Over Fee relative to that Transaction, which:•••

may vary between currency pairs;
may depend on the Contract Quantity; andmay be subject to change from time to time.

The Roll-over Fee may be positive or negative, meaning that you will either owe money to us or receive moneyfrom us each night a Rolling Spot Forex Contract is rolled over. Details about the Roll-Over Fee may be
communicated to you through a variety of means, including, but not limited to, notification via our Online
Trading Facility, telephone, our Website(s).
Unless you close a Rolling Spot Forex Contract before 17:00 EST, we will automatically roll over such open
Rolling Spot Forex Contracts on your Account to the following Business Day, and subsequently charge you therelevant Roll-Over Fee.
SCHEDULE B: BUSINESS TERMS FOR CFD’s
SCOPE
This SCHEDULE B supplements and amends the Terms and Conditions as expressly provided below. In the eventof any conflict or inconsistency between the Terms and Conditions and this SCHEDULE B the provisions in thisSCHEDULE B shall prevail. You acknowledge and agree that, by subscribing to these Terms and Conditions, youwill be bound by the provisions of this SCHEDULE B.
DEFINITIONS
Words or phrases defined in the main body of the Terms and Conditions shall be assigned the same meaning
in this SCHEDULE B unless otherwise defined.
In this SCHEDULE B, the following words and phrases shall, unless the context otherwise requires, have thefollowing meanings and may be used in the singular or plural as appropriate:
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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“Calculation Adjustment”, when used in this SCHEDULE B, unless the context requires otherwise, shall havethe meaning given to it in SCHEDULE B;“CFD Contract”, when used in this SCHEDULE B, unless the context requires otherwise, shall mean any CFD, theOrder for which is placed on a quote provided by us (either through our Online Trading Facility or via
telephone);“Financial Instrument”, when used in this SCHEDULE B, unless the context requires otherwise, shall mean aninvestment within the meaning of in these Terms and Conditions;“Finance Charge”, when used in this SCHEDULE B, unless the context requires otherwise, shall mean the fee
charged by us to you for rolling a CFD Contract from one day to the next;“Merger Event”, when used in this SCHEDULE B, unless the context requires otherwise, shall have the meaning
given to it in this SCHEDULE B;“Single Share CFD”, when used in this SCHEDULE B, unless the context requires otherwise, shall mean a CFD
Contract where the Underlying Instrument relates to one Equity rather than a basket of Equities;“Takeover Offer”, when used in this SCHEDULE B, unless the context requires otherwise, shall mean, withrespect to any CFD Contract that relates to an Equity, a takeover offer, tender offer, exchange offer, solicitation,
proposal or other event by any entity or person that results in such entity or person purchasing or otherwise
obtaining or having the right to obtain (by conversion or other means) 50% or more of the outstanding voting
shares of the issuer of the relevant Equity or share; and“Transaction Charge”, when used in this SCHEDULE B, unless the context requires otherwise, shall mean thefee charged by us to you for opening and/or closing a CFD Contract where the Underlying Instrument is a
Security.
SERVICES
Subject to you fulfilling your obligations under the Terms and Conditions, you may place Orders for CFD
Contracts with us (either through our Online Trading Facility or via telephone), the subject of such contracts
relating to any Underlying Instrument offered by us from time to time.
A CFD is a cash-settled contract, which seeks to confer similar economic benefits to an investment in therelevant Underlying Instrument, without the usual costs and rights associated with an investment in the
Underlying Instrument, although other costs and rights will apply to a CFD. Therefore, unless otherwise agreed
in writing by and between you and us, you acknowledge and agree that you will not be entitled to delivery of,or be required to deliver, the Underlying Instrument to which a CFD Contract relates, nor will you acquire any
interest in the relevant Underlying Instrument or be entitled to receive dividends or any equivalent thereof, to
exercise voting rights, to receive any rights pursuant to any rights or bonus issue, or to participate in any placing
or open offer by virtue of a CFD Contract where the Underlying Instrument is a Security. The payment of any
dividend or occurrence of any rights or bonus issue, placing, open offer or take-over in respect of a CFD Contract
where the Underlying Instrument is a Security, shall be dealt with in accordance with these Terms andConditions

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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CAPACITYWhen you place an Order for a CFD Contract with us (either through our Online Trading Facility or via
telephone), your Order is transmitted to those of our Retail Service Providers, which can deliver, according to
our Order Execution Policy, best execution of the transmitted Orders.
For such Orders, we are currently connected electronically to a wide range of Retail Service Providers (RSP)
who are market makers and liquidity providers in a range of instrument types. When an Order is received, oursystem will request a price from all Retail Service Providers offering a price in the requested security and will
select the best price returned and complete the order following confirmation from you. In the event that anorder cannot be executed online it will be routed to a dealer who will negotiate the price with a market makerby telephone with reference to any available electronically displayed prices.
OBTAINING A QUOTE AND ORDER PLACEMENTAt any time that you wish to obtain a quote or place an Order to open a CFD Contract, you may contact us (oran Associated Company or Agent where so instructed by us).
Where requested by you, we may, but shall not be obliged to, provide quotes or receive Orders outside thenormal hours of trading.
Depending on the Underlying Instrument, you may contact us (or an Associated Company or Agent where so
instructed by us) to obtain a quote, place an Order or otherwise place Orders for CFD Contracts with us, subject
to the following: where you wish to deal in a CFD the subject of which is not a Security, you may obtain an
Indicative Quote, place an Order or otherwise trade electronically through our Online Trading Facility.
Where you wish to deal in a CFD, the subject of which is a Security, you may request an Indicative Quote, place
an Order or otherwise trade electronically through our Online Trading Facility or by telephoning our office.
Orders by telephone will only be accepted by us during specified hours which will be notified to you from time
to time. You may only place an Order via telephone by talking directly to an Account Service Manager of theCompany. No messages may be left, and no Orders may be placed using an answering machine or voice-mailphone facilities via facsimile.
We may stipulate a minimum and/or maximum Contract Quantity per Underlying Instrument from time to time
and we reserve the right to vary such stipulations according to Market conditions.
OPENING CFD CONTRACTS
A CFD Contract will only be formed when the Client provides an instruction to place an Order on a Quote
provided by us (either through our Online Trading Facility or via telephone), and we execute the instruction inaccordance SCHEDULE B.
You may cancel an Order at any time by providing notice to us, unless and until the Order has been executedin whole or in part, only if the Order is an Entry Order. If an Order has been executed in whole or in part, it will
not be possible for you to cancel the Order to the extent that the Order has been executed. If an Order is aMarket Order, it will not be possible for you to cancel the Order at any time.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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For Accounts where you are using the Non-Hedging Setting, if you: give an Order to open a long position in
relation to an Underlying Instrument on an Account where at that time you already have on that Account ashort position in relation to the same Underlying Instrument; or give an Order to open a short position in
relation to an Underlying Instrument where you already have a long position in relation to the same Underlying
Instrument; then we will treat your instruction to open the new position as an instruction to close the existing
position to the extent of the size of the new position. If the new position is greater in size than the existing
position, then the existing position will be closed in full and a new CFD Contract will be opened in relation to
the excess size of the new position.
For Accounts where you are using the Hedging Setting, if you: give an Order to open a long position in relation
to an Underlying Instrument on an Account where at that time you already have on that Account a shortposition in relation to the same Underlying Instrument; or give an Order to open a short position in relation toa Contract Investment where you already have a long position in relation to the same Underlying Instrument;
then we will NOT treat your instruction to open the new position as an instruction to close an existing position.
CLOSING CFD CONTRACTS
On any Business Day on which you wish to close any CFD Contract (whether in whole or in part) you may givea Closing Notice to us specifying the CFD Contract you wish to close, the related Underlying Instrument, theContract Quantity and the Closing Date.
Following receipt of a Closing Notice, we shall inform you of the Closing Price of the CFD Contract and the CFD
Contract will be closed at that price on the Closing Date. Any amounts payable by you to us as a result of theclosed CFD Contract are immediately due and payable on the Closing Date. Conversely, any amounts payable
by us to you as a result of the closed CFD Contract are immediately due and payable on the Closing Date, andwill be deposited into your Account.

CFD CONTRACTS ON SECURITIESSCHEDULE B will apply to you when you enter into a CFD Contract, the subject of which is formed by Securities.
If any Securities become subject to possible adjustments as the result of any of the events set out in
SCHEDULE B below, we shall determine the appropriate adjustment, if any, to be made to the current Contract
Value or Contract Quantity of any related CFD Contract to account for the dilutive or concentrative effect asnecessary to preserve the economic equivalent of the CFD Contract prior to the relevant event or to reflect theeffect of the event on the relevant Underlying Instrument. Such adjustments will be effective as of the date
determined by us.
The events to which this SCHEDULE B refers may include, without limitation, the declaration by the issuer of
the Securities of the terms of any of the following: a subdivision, consolidation or reclassification of shares, ora free distribution of shares to existing holders by way of bonus, capitalisation or similar issue; distribution toexisting holders of the underlying Securities of additional shares, other share capital or Securities granting theright to payment of dividends and/or proceeds of liquidation of the issuer, or Securities, rights or warrants
granting the right to a distribution of shares or to purchase, subscribe, or receive shares, in any case forpayment (in cash or otherwise) at less than the prevailing Market price per share; or any event in respect of
the Securities analogous to any of the foregoing events or otherwise having a dilutive or concentrative effecton the Market value of the Security.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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If at any time a Merger Event as defined below occurs or a Take-over Offer is made in respect of any relevant
Underlying Instrument where the subject is a Security, then on or after the date of the Merger Event or at any
time prior to the Closing Date of such Take-over Offer, a “Calculation Adjustment” (as defined herein) may bemade. Calculation Adjustment means that we shall either: make such adjustment to the exercise, settlement,
payment or any other terms of the CFD Contract as we may determine is appropriate to account for the
economic effect, if any, on the Security as a result of such Merger Event or Take-over Offer (provided that no
adjustments will be made to account solely for changes in volatility) expected dividends, stock loan rate or
liquidity relevant to the Security, which may, but need not, be determined by reference to adjustment(s) madein respect of such Merger Event or Take-over Offer by an exchange to futures or options on the relevant Security
traded on such exchange; or determine the effective date of that adjustment (if any).
If we determine that no adjustment could be made under SCHEDULE B above which would produce acommercially reasonable result, we will issue a Closing Notice to you. The date of such notice will be the Closing
Date. The Closing Price shall be such price as is notified by us to you. For the purposes of this clause, Merger
Event means in respect of any CFD the subject of which is formed by Securities: any reclassification or changeof the Security that results in a transfer of or an irrevocable commitment to transfer all outstanding Securitiesof the same class as the Underlying Instrument to another entity or person, whether by consolidation,
amalgamation, merger or binding share exchange of the issuer of the relevant Security with or into anotherentity or person (other than a consolidation, amalgamation, merger or binding share exchange in which such
issuer is the continuing entity and which does not result in a reclassification or change of all such outstanding
Securities);
Take-over Offer of the outstanding Securities of the issuer that results in a transfer of or an irrevocablecommitment to transfer all of them (other than those Securities already owned or controlled by such otherentity or person); or consolidation, amalgamation, merger or binding share exchange of the issuer of therelevant Securities or its subsidiaries with or into another entity in which the issuer is the continuing entity andwhich does not result in a reclassification or change of all such Securities but results in the outstanding
Securities (other than those Securities owned or controlled by such other entity) immediately prior to such
event collectively representing less than 50% of the outstanding Securities immediately following such event.
If all or substantially all the shares or assets of an issuer of Securities (such issuer and Securities being the
subject of an existing CFD Contract) are nationalised, expropriated or are otherwise required to be transferred
to any governmental agency, authority, entity or instrumentality thereof, the day on which such event occurs,
or is declared shall be the Closing Date. The Closing Price shall be such price as is notified by the Company to
the Client.
CFD CONTRACTS ON FINANCIAL INSTRUMENTSSCHEDULE B shall govern the relationship between you and us when you enter into a CFD Contract which has
a Financial Instrument as the basis of the contract.
If at any time trading on an exchange or market is suspended which affects the Underlying Instrument to a CFD
Contract, the Company the value of the CFD Contract shall be calculated with reference to the last traded pricebefore the time of suspension, or the Closing Price if no trading in that Financial Instrument is undertaken
during the Business Day on which a suspension occurs. In the event that the aforesaid suspension continues
for five (5) consecutive Business Days, we (you and us) may agree, in good faith, a Closing Date and a value of
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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the CFD Contract. In the absence of such agreement, the CFD Contract shall remain open in accordance withthe provisions of this clause until such time as the aforesaid suspension is lifted or the CFD Contract is otherwise
closed. During the term of a CFD Contract, in the event that the Underlying Instrument is suspended, we shallbe entitled to terminate the CFD Contract at its discretion and/or to amend or vary any Margin Requirements
and Margin rates for that CFD Contract.
If a Regulated Market on which a Financial Instrument is principally traded announces that pursuant to therules of such Market the relevant Financial Instruments have ceased, or will cease to be listed, traded or publicly
quoted on the Market for any reason (other than a Merger Event or Take-over Offer) and are not immediately
re-listed, re-traded or re-quoted on a Market or quotation system located in the same country as the Market
or already so issued, quoted or traded, and you have a CFD Contract relating to the affected Financial
instrument, the day on which such an event occurs, or (if earlier) is announced, shall be the Closing Date. The
Closing Price will be such price as notified by us to you.
TRANSACTION COSTS AND ROLLOVER
In respect of Transactions in certain CFD Contracts, we may charge you a Transaction Charge and/or a Finance
Charge. Transaction Charges will be specified in the Commission, Charges & Margin Schedule that is posted
from time to time on our Online Trading Facility, as the same may be amended from time to time. Transaction
Charges and Finance Charges will be deducted from your Account following such times delineated in SCHEDULE
B below. The Client must have sufficient money on its Account at the relevant time to meet such obligations.
Where you place an Order for a CFD Contracts with us (either through our Online Trading Facility or via
telephone) and the Underlying Instrument of that contract is a Security, we may charge you a Transaction
Charge to open and close the CFD Contract. Details behind the Transaction Charge, including its calculation, arelocated in the Commission, Charges & Margin Schedule that is posted from time to time on our Online Trading
Facility, as the same may be amended from time to time.
A CFD Contract is generally considered an open-ended contract with no definitive closing date unless theUnderlying Instrument, the Market or the Company otherwise requires. Both open ended and fixed-term CFD
Contracts will roll over each trading day until you instruct us to close the open CFD Contract (and we accept
and act on that instruction) or the definitive close date is reached. The Contract Value of an open CFD Contract
is adjusted with reference to the Market price of the Underlying Instrument each trading day that a CFD
Contract remains open.
For the purposes of determining and fulfilling your obligations with respect to a CFD Contract, including but
not limited to your Margin obligations under these Terms and Conditions, a rolling CFD Contract shall bedeemed to be a single CFD Contract which is initiated when the CFD Contract is first opened and closed when
you instruct us to close the open CFD Contract (and we accept and act on that instruction) or the definitive
close date is reached.
We reserve the right to discontinue a rolling market facility at any time. We will notify you as soon as isreasonably practicable should we decide for whatever reason to discontinue the rolling market facility.
Where you enter into a CFD Contract with us and you roll that CFD Contract from one day to the next, the we
may charge you a Finance Charge relative to that Transaction, which:
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

123• may vary between Underlying Instruments;• may depend on the Contract Quantity; and• may be subject to change from time to time.
The Finance Charge may be positive or negative, meaning that you will either owe money to us or receive
money from us each night a CFD Contract is rolled over. Details about the Finance Charge may be
communicated to you through a variety of means including but not limited to notification via our Online Trading
Facility, telephone, our Website(s), and/or the Commission, Charges & Margin Schedule that is posted fromtime to time on our Online Trading Facility, as the same may be amended from time to time.
Depending on the Underlying Instrument, you may incur the Finance Charge at different times. Unless you:close a CFD Contract (the Underlying Instrument of such contract being anything other than a Security) before
17:00 EST, we will automatically roll over such open CFD Contracts on your Account to the following Business
Day, and subsequently charge you the relevant Finance Charge; or close a CFD Contract (the Underlying
Instrument of such contract being a Security) before the close of the Market where the Underlying Instrument
is traded, we will automatically roll over such open CFD Contracts on your Account to the following Business
Day, and subsequently charge you the relevant Finance Charge.
Where you open a CFD Contract and the Underlying Instrument of such CFD Contract is an oil future, you
acknowledge that such CFD Contract is a fixed term contract. This means that the contract will have a definitive
close date, which will be notified to you via our Online Trading Facility, our Website(s) or any other means
available to us under these Terms and Conditions If you fail to close such CFD Contract before the definitive
close date, we will automatically close that CFD Contract. Following a request by you, we may, but we are notobliged to, reopen that CFD Contract on the following Business Day subject to the relevant Finance Charge.
ACCOUNT STATEMENTS
Specific sections of the main body of the Terms and Conditions will not apply to you for your Transactions in
CFDs where the Underlying Instrument of the contract is a Security. Rather, we will make available to you an
Account Statement on a daily basis which will be e-mailed to you. Account Statements shall, in the absence ofManifest Error or grossly obvious inaccuracies, be conclusive and binding on you, unless you notify us of yourrejection in writing within three (3) Business Days of dispatch of the Account Statement to you, or if we notify
you of an error in the Account Statement within the same period.
Where you don’t open, hold or close a CFD position (where the Underlying Instrument of the contract is a
Security) in a given day, no Account Statement will be generated for that day.
PAYMENT, WITHDRAWAL AND SET-OFF
For the purposes of trading in such CFDs, we offer our clients multi-currency accounts. In that regard, you
acknowledge and agree to the following: all funds transferred into your Account (by either you or us) will beremain in the currency of transfer unless we accept alternative instructions from you. Where we accept suchalternative instructions, we will convert such funds into the currency of your choice; all payments from yourAccount will be made in the currency of the payment obligation, unless we (you and us) otherwise agree.
Where you do not hold the relevant currency for payment and we (you and us) do not agree to convert all or a
portion of your funds to meet the payment obligation, we will charge your Account with a floating debit in theamount and currency of the relevant payment obligation; we will not remove any funds or force the currency
conversion. The floating debit will accrue interest at the relevant rate prescribed in the Commission, Charges
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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& Margin Schedule that is posted from time to time on our Online Trading Facility, as the same may be amended
from time to time. It is your responsibility to extinguish this obligation by either asking us to convert available
funds, or to transfer sufficient funds in the relevant currency. Until you undertake such action, we will continue
to charge interest. Where you have such floating debit balances on your Account, we will not allow you to enter
into Transactions with your available funds in excess of the net balance (available funds less floating debit
obligations at our elected rate of exchange).
The provisions of this Section of this SCHEDULE B do not restrict our right of set-off at specific sections of themain body of the Terms and Conditions or where otherwise provided under the Terms and Conditions. You
should be aware that we can exercise our right of set-off at any time and for any reason irrespective of theprovisions of this Section of this SCHEDULE B. You are, therefore, urged to settle all floating debits as soon as
possible.
MARGINWe may apply assets held by us or by our Nominee on your behalf as Margin, which may be used by you to
conduct Margined Transactions in CFD Contracts where the Underlying Instrument of such contract is a
Security.
Where we or our Nominee hold(s) bonds or Equities on your behalf, we shall rate the value of such Equities
and bonds that we choose to accept as consideration for Margin in our sole and absolute discretion on a daily
basis following the close of Markets. When rating such bonds and Equities, we use a percentage rating (asdetermined by us in our sole and absolute discretion) to value the securities held. The cumulative valuation isthen added to your Account as usable Margin, which can be viewed by you in the Secure Access Website and/or
on our Online Trading Facility (where available). Because such Margin is tied to non-cash collateral that is
subject to market movements, you expressly acknowledge and agree that the usable Margin derived from suchnon-cash collateral will fluctuate based on market movements from time to time.

SCHEDULE C: BUSINESS TERMS FOR EQUITIESSCOPEThis SCHEDULE C supplements and amends the Terms and Conditions as expressly provided below. In the eventof any conflict or inconsistency between the Terms and Conditions and this SCHEDULE C the provisions in thisSCHEDULE C shall prevail. You acknowledge and agree that, by subscribing to these Terms and Conditions, youwill be bound by the provisions of SCHEDULE C.
SCHEDULE C together with the main body of the Terms and Conditions govern the relationship between you
and us, when you enter into a Transaction relating to ‘Equities’ (defined below), the Order for which is placedon a quote provided by us (either through our Online Trading Facility or via telephone).
DEFINITIONS
Words or phrases defined in the main body of the Terms and Conditions shall be assigned the same meaning
in this SCHEDULE C unless otherwise defined.
In this SCHEDULE C, the following words and phrases shall, unless the context otherwise requires, have thefollowing meanings and may be used in the singular or plural as appropriate:
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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“AGM”, when used in this SCHEDULE C, unless the context requires otherwise, shall mean an annual general
meeting of shareholders;“EGM”, when used in this SCHEDULE C, unless the context requires otherwise, shall mean an extraordinary
general meeting.
“Limit Order(s)”, when used in this SCHEDULE C, unless the context requires otherwise, shall mean an order tobuy or sell a financial instrument at its specified price limit or better, and for a specified size;“Market Best Order(s)”, when used in this SCHEDULE C, unless the context requires otherwise, shall mean anorder to buy or sell shares at the best price available at the time that the order is placed;“Short Sales”, when used in this SCHEDULE C, unless the context requires otherwise, shall mean a transactionin which the client sells investments which it does not own at the time of the sale; and“Stop Orders”, when used in this SCHEDULE C, unless the context requires otherwise, shall mean an order tobuy or sell a share once the price of that share reaches a specified price (which is known as the stop price).
RISKS
We have set out a general description of the nature and risks associated with the products and investments weoffer in our ‘General Risk Disclosure’, which summarises the key risks involved in investing with us and inentering into and closing Transactions via our Online Trading Facility and in our ‘Risk Disclosures for Financial
Statements & Investment Services’, which discloses certain risks and other significant aspects involved indealing in certain derivative financial instruments via our Online Trading Facility. A copy of our ‘General Risk
Disclosure and of our ‘Risk Disclosures for Financial Statements & Investment Services’ is posted from time totime on our Online Trading Facility, as the same may be amended from time to time. You should carefully anddiligently review this information before trading under these Terms and Conditions.
MARGIN
We do not provide for the trading of Equities by Margin; therefore, all Equities Transactions must be paid for infull with readily available funds in your Account, and any Equities sold must be available for delivery by thesettlement date.
DEALINGS IN EQUITIES
Where you wish to deal in Equities, you may request an Indicative Quote, place an Order or otherwise tradeelectronically through our Online Trading Facility or by telephoning our office. Orders by telephone will only be
accepted by us during specified hours which will be notified to you from time to time. You may only place an
Order via telephone by talking directly to an Account Service Manager of the Company. No messages may beleft, and no Orders may be placed using an answering machine or voice-mail phone facilities via facsimile.
We will treat each Order you place for Equities as an offer to purchase the Equities subject to these Terms andConditions. We may, in our reasonable discretion:••refuse to accept any Order or instruction from you;accept your Order subject to certain conditions; or

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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•

acting reasonably, refuse to proceed with an Order that we have accepted. If we do this, we will try to
notify you, subject to Applicable Laws, Rules and Regulations.

Once accepted by us, you cannot amend or cancel your Order, unless, before the execution of a particular
Order, you receive confirmation from us of any amendment or cancellation of the Order.
When you place an Order by telephone, our representative will ordinarily (but will not be obliged to) repeat
your instructions back to you to confirm the terms of your Order prior to us accepting such Order. It is yourresponsibility to check that the terms of the Order are correct even where our representative did not repeat
your instructions. Where we do not repeat your instructions, you should ask our representative to do so. The
terms of the Order accepted by us will be those either repeated back to you, subject to any amendments you
may notify to our representative, or the instructions reasonably understood by our representative, where no
instructions were repeated.
When you place an Order on our online Trading Facility, no contract has been created until the Online Trading
Facility lists that the Order has been acknowledged, is in working process, or was accepted. If suchacknowledgements are not clear within a reasonable time after submitting an Order, you should contact us tocheck if the Order has been received and accepted.
You acknowledge and accept that:
if we incur additional reasonable expenses (examples of which include, but are not limited to, premiums anddiscounts) when carrying out your Order and we are unable to contact you to discuss about these after
reasonable efforts to do so, we may proceed to execute your Order and incur those expenses which will thenbe payable by you; there may be a delay in the execution of an Order because all Orders are executed strictly
by reference to time of receipt. In particular, an Order received when a relevant exchange is closed will not be
executed until after it next re-opens. We will present that Order for execution when the exchange next reopens
or, if a large number of Orders have been received while the Market is closed, as soon as reasonably practicable
after the exchange next reopens.
Demand for our Services may fluctuate and whilst we will use all reasonable endeavours to meet increased
demand, we cannot accept responsibility for any actual or potential financial loss (including, for the avoidanceof doubt, loss caused by market movements) that may arise if you are unable to contact us to place an Orderby any of our current dealing methods, except where such inability is caused by our gross negligence, fraud or
willful default.
Orders may be placed as Market Orders to buy or sell as soon as possible at the price obtainable in the Market,
or on selected products as Limit and Stop Orders to trade when the price reaches a pre-defined level. Limit
Orders to buy and Stop Orders to sell must be placed below the current Market price, and Limit Orders to selland Stop Orders to buy must be placed above the current Market price. If the bid price for sell orders or ask
price for buy orders is reached, the Order will be filled as soon as possible at the price obtainable in the Market.
Limit and Stop Orders are executed consistent with our Order Execution Policy and are not guaranteed to be
executable at the specified price or amount, unless explicitly stated by us for the specific Order. Limit Orders,
Stop Orders and Market Best Orders shall be subject to the following terms: we will try to execute Limit Orders,
Stop Orders and Market Best Orders as soon as practicable, but market conditions can affect the time it takes
to execute such orders and all orders are executed in due turn; we cannot guarantee that a Limit Order or a
Stop Order will be executed even if the limit or stop price is reached; we do not accept any liability for any
actual or potential loss you may suffer if there is a delay in execution; we may, but are not required to, cancel
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

127a pending Order if you place a Limit Order or Stop Order for an Equity in respect of which trading is suspended
or has a Corporate Action before execution;
Market conditions may result in the execution of a Stop Order being at a price above or below the stop price;
if you place a Stop Order that is higher than the normal market size and the price at which it is to be executed
is significantly different from the stop price, we may still proceed to execute the Order; and we may publish
your Limit Order if it relates to shares admitted to trading on a Regulated Market and that Order cannot be
immediately executed under prevailing market conditions, unless you expressly instruct otherwise.
PAYMENT, WITHDRAWAL AND SET-OFF
For the purposes of trading in Equities (other than U.S. Equities), we offers our customers multicurrency
accounts; in that regard, you acknowledge and agree to the following: all funds transferred into your Account(by either you or by us) will be remain in the currency of transfer unless we accept alternative instructions fromyou; where we accept alternative instructions, we will convert such funds into the currency of your choice; allpayments from your Account will be made in the currency of the payment obligation, unless we (you and us)
otherwise agree; where you do not hold the relevant currency for payment and we (you and us) do not agree
to convert all or a portion of your funds to meet the payment obligation, we will charge your Account with afloating debit in the amount and currency of the relevant payment obligation; we will not remove any funds orforce the currency conversion; the floating debit will accrue interest at the relevant rate prescribed in theCommission, Charges & Margin Schedule that is posted from time to time on our Online Trading Facility, as thesame may be amended from time to time; it is your responsibility to extinguish this obligation by either asking
us to convert available funds, or to transfer sufficient funds in the relevant currency; until you take such action,
we will continue to charge interest; where you have such floating debit balances on your Account, we will notallow you to enter into Transactions with your available funds in excess of the net balance (available funds lessfloating debit obligations at our selected rate of exchange).
The provisions of this Section of this Schedule D do not restrict our right of set-off at specific Sections of themain body of the Terms and Conditions or any other rights of set-off otherwise permitted by the Terms andConditions; you should be aware that we can exercise our right of set-off at any time and for any reason
irrespective of the provisions of this Section of Schedule D; you are, therefore, urged to settle all floating debits
as soon as possible.
We will only allow you to designate your Base Currency in United States Dollars.
SHORT SELLING
We will not accept instructions for Short Sales.
EXECUTION VIA THIRD PARTIES
We may, at our reasonable discretion, arrange for a Transaction to be effected with or through a third party.
We will not be liable to you for any act or omission of any such third party, except where you have acted
negligently, fraudulently or in wilful default in relation to the appointment of such third party.
Trades placed by us on your behalf in Markets outside of Bermuda may be executed via a third party and assuch are subject to their service levels; as a result, late reported trades can be booked to your Account at any
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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time prior to the start of the next trading day; it is possible that an Order that has been confirmed as cancelled
or as expired may be subject to a late reported fill; you should contact us Company if you have any doubt as tothe status of a particular Transaction.
SETTLEMENT
By settlement is meant payment and delivery related to an Equities Transaction; settlement dates vary byMarket; you should inform yourself of the relevant settlement date for each Transaction prior to submitting an
Order; we may provide such information upon request.
Depending on the product and Market, we may lengthen or shorten the standard settlement dates; wherepermitted by the Market, we (you and us) may agree to lengthen or shorten the settlement dates pertaining
to your Transactions.
You are responsible for paying for each Transaction we execute for you, whether by payment of the purchaseprice, delivery of the relevant assets, or otherwise as the relevant Market requires; except as otherwise agreed,
you must pay for any investments we purchase for you on or before the settlement date.
Investments held in custody for you will be used to settle your sale transactions; otherwise, in respect of allsale transactions, you:• promise to us that, at the time of placing an Order to sell, you own the relevant investments; and• will immediately arrange for delivery to us of the certificates and transfer forms signed by theshareholder for such investments, at the latest by the contracted settlement date, otherwise payment
to you may be delayed.
When you purchase Equities, you only obtain unconditional title of right to the Equities, provided that the final
payment to us is made on or before the settlement date.
Delivery or payment by the counterparty to any Transaction we place or executes as your Agent will be yourresponsibility; our obligation to deliver assets to you or to account to you or any other person acting on yourbehalf for the proceeds of sale of any assets is conditional on the receipt by us of the relevant assets or saleproceeds from the counterparty to the Transaction.
We will not be responsible and will not be liable to compensation to you if and when a counterparty fails tosettle a Transaction; the only exception to this is when we specifically agrees with you in writing that we willassume the risk of a counterparty failing to settle a trade; any such exceptional agreement will be on a caseby-case basis (i.e. it will be limited to the particular Transaction at the time and must not be interpreted as
giving rise to any kind of promise, understanding, assurance or belief that we will agree to accept any similarrisk in relation to any other trade at any time in the future).
There may be circumstances beyond our control, which may prevent us from settling Transactions into which
you have entered or which we have entered into on your behalf; this may occur, for example, where thecounterparty to the Transaction defaults on its obligations (i.e. because it has become insolvent); if this occurs,
we will use our reasonable endeavours to settle the trade for you; however, there may be circumstances where
this is impossible; for example, if the trade is subject to the rules of an exchange or Market then we will haveto act in compliance with those rules; where a trade has to be settled through a settlement system this may
also mean that there is significant delay in settlement or that settlement does not occur; you will remain liable
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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for your obligations in relation to every Transaction until settlement or other conclusion of the Transaction
occurs.
The securities settlement conventions in certain Markets that apply to the holding of assets or settlement ofTransactions for you may result in a delay before proceeds of sale are received for you, or title to a security
passes to you.
TRADE CONFIRMATIONS AND ACCOUNT STATEMENTS
Specific Sections of the main body of the Terms and Conditions will not apply to you with respect to yourEquities Transactions; rather, we will provide Confirmations to you via e-mail following execution of eachTransaction; you may opt to receive Confirmations through our online Trading Facility and/or Secure Access
Website(s) rather than via e-mail; however, you must notify us in writing if you wish to receive confirmationsin hard copy format (which may be subject to charges presented if listed in the Commission, Charges & Margin
Schedule that is posted from time to time on our Online Trading Facility, as the same may be amended fromtime to time). Where you opt to do so, we will provide you with general Account information through our
Online Trading Facility and/or Secure Access Website(s); Account information will usually include Confirmations
with ticket numbers, purchase and sale rates, used Margin, amounts available for Margin trading, statements
of profits and losses, current open and pending positions and any other information as required by the
BERMUDA Rules; updated Account information will be available no more than twenty-four hours after any
activity takes place on your Account; where you opt out of e-mail Confirmations in favour of Confirmations via
our Online Trading Facility and/or Secure Access Website(s), you acknowledge and accept that posting ofConfirmations within the Account information will be deemed delivery of Confirmations by us to you.
In any event, you may request Confirmations in hard copy format at any time; however, you must notify us inwriting if you wish to receive confirmations in hard copy format (which may be subject to charges presented iflisted in the Commission, Charges & Margin Schedule that is posted from time to time on our Online Trading
Facility, as the same may be amended from time to time); confirmations shall, in the absence of Manifest Error
or grossly obvious inaccuracies, be conclusive and binding on you, unless you notify us of your rejection inwriting within three (3) Business Days of: transmission of the Confirmation via e-mail, where you have notelected to receive trade Confirmations via our Online Trading Facility and/or Secure Access Website(s), or in
hard copy; our posting of the Confirmation on your online Account, where you have not elected to receive
trade Confirmations via e-mail or in hard copy; or dispatch of the Confirmation to you via post, where you haveelected to receive Confirmations in hard copy, or if we notify you of an error in the Confirmation within thesame period.
Specific sections of the main body of the Terms and Conditions will not apply to you with respect to yourEquities Transactions; rather, we will make available to you an Account Statement on a monthly basis which
will be posted to our Secure Access Website(s); Account Statements shall, in the absence of Manifest Error or
grossly obvious inaccuracies, be conclusive and binding on you, unless you notify us of your rejection in writing
within three (3) Business Days of: our posting of the Account Statement on your online Account, where you
have not elected to receive Account Statements in a Durable Medium; or dispatch of the Account Statement
to you in a Durable Medium, where you have elected to receive Account Statements in a Durable Medium, or
if we notify you of an error in the Account Statement within the same period.
Where no activity occurs on your Account over the course of a month, no Account Statement will be generated
for that month.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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We offer you the possibility of receiving notifications, via e-mail, when an Account Statement is ready forviewing; this service is offered solely as a courtesy; we are under no obligation to provide such notifications
even where you opt to receive the Account Statement notification service; you should contact us to sign up forthe service where interested; you may opt out of the Account Statement notification service at any time bynotifying us in writing.
CUSTODY
Unless otherwise agreed between us (you and us), we will only hold investments for you in electronic format.
Upon request by you, we will, where available, materialise an electronic holding into a paper certificate, in yourname in respect of any of your investments held by our Nominee or otherwise purchased by us on your behalf,
for delivery to you; the charges set out in the Commission, Charges & Margin Schedule that is posted from time
to time on our Online Trading Facility, as the same may be amended from time to time will apply to the
production of certificates for you; the safekeeping and delivery of all investments held by you in certificatedform shall be at your sole and exclusive risk.
Any investments held on your behalf may be pooled with those investments of other customers; this meansthat your entitlement may not be individually identifiable on the relevant company register, by separate
certificates or electronic records and, in the event of an un-reconciled shortfall caused by the default of acustodian, you may share proportionately in that shortfall.
CORPORATE ACTIONS
Where an instruction is given to us in respect of an Equity for which a Corporate Action is imminent, we may
decline to accept your instructions or refuse to execute a Transaction on the basis of your instructions.
Where (in respect of an Equity held by us for your account or deliverable to us for your account) any Corporate
Actions occur, we shall not be obliged to inform you of the Corporate Action or undertake any action, even if
you specifically instruct us, unless we expressly consent in writing; if we inform you of a Corporate Action andyou inform us within such period as we may specify that you wish to exercise any rights arising out of Corporate
Actions and provided there are sufficient cleared funds in your Account(s), we will use reasonable endeavours
to give effect to your instructions, but only on such terms as you advise us and as are acceptable to us;
otherwise, we will take such action, or refrain from taking any action, as we may determine in our sole
reasonable discretion.
We may, but shall not be obliged, to claim and receive dividends, interest payments and other income
payments accruing to your investments; where a scrip dividend is offered and we agree to take action for yourbenefit, we will elect to take the cash alternative, unless the default option is for the issuance of shares.
Where a Corporate Action in respect of an investment held on your Account includes an offer for you topurchase additional shares and we inform you of this offer and you do not take up that offer, we may instruct
the Nominee to take up that offer and purchase those shares; the Nominee is able to do this as it is the legal
owner of the investment; when the Nominee then sells those shares, we will retain in full any profit that is
made and we will be liable for any loss.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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We shall not be obliged to, but we may arrange for you to receive the report, accounts and other information
issued by a company, attend shareholders’ meetings or unit holders’ meetings and vote in person or to direct
how our Nominee should vote on your behalf, unless you give us instructions to that effect; where you do this,we shall use reasonable endeavours, where possible, to make appropriate arrangements on the terms andwithin the timescales we may impose.
Where a Corporate Action results in a fractional entitlement to part of a share, then we will sell such fractional
shares and credit your Account with a cash value that may be subject to a minimum charge for administration.
Details of this charge are set out on the Commission, Charges & Margin Schedule that is posted from time totime on our Online Trading Facility, as the same may be amended from time to time.
Where Corporate Actions (such as partial redemptions) affect some, but not all Nominee investments held ina pooled account, we shall allocate the investments which are affected to relevant customers in such a fair andequitable manner as we reasonably consider to be appropriate.
If the terms of a Corporate Action require an election to be made on behalf of our entire Nominee holding in acompany, we reserve the right not to offer an option to you, where it is reasonable to do so; we will use
reasonable endeavours to give you an alternative option, but we cannot guarantee that this will match theoptions offered by the relevant company.
If we are notified of a class action or group litigation that is being proposed or taken concerning investmentsthat our Nominee is holding, or has held, on your behalf, we are not required to inform you about this orotherwise act on that notification.
TAX
Where we receive a payment for a tax adjustment of a dividend relating to an investment we or our Nomineeholds your benefit, we will credit your Account with the payment subject to a minimum charge foradministration (if any), more details of which are set out on the Commission, Charges & Margin Schedule thatis posted from time to time on our Online Trading Facility, as the same may be amended from time to time.
Where you seek to trade in U.S. Securities, you must complete a Certificate of Foreign Status of Beneficial
Owner for United States Tax Withholding (W8BEN Form), as provided by the United States Internal Revenue
Service, before entering a Transaction for U.S. Securities on your Account; in these circumstances, we will
require an original signed copy of the W8BEN Form.
In exceptional circumstances, we may allow you to trade U.S. Securities without holding the original W8BEN
Form; however, we will only permit this exception where we hold a scanned copy of your W8BEN Form in
anticipation of receiving your original signed W8BEN Form within two (2) weeks; any such exception must be
agreed by us in writing.
TRANSFER OF SECURITIESWhen opening an Account with us, you may request to transfer assets and/or Open Positions from a nonaffiliated broker to us, by completing the Transfer Request Form; we will use reasonable efforts to effectuate
the transfer of such Equities and/or open positions; however, because the transfer of Equities and/or open
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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positions involves the participation of a non-affiliated broker, we cannot guarantee that every request will be
fulfilled.
We reserve the right not to accept the transfer of any or all Equities and/or open positions from a nonaffiliatedbroker; where we do accept such a transfer, we may charge you a fee in accordance with the then prevailing
Commission, Charges & Margin Schedule that is posted from time to time on our Online Trading Facility, as thesame may be amended from time to time; any fees imposed by the nonaffiliated broker in connection withsuch a transfer will be charged to your Account; we are not responsible for informing you of the non-affiliatedbroker’s fees; you should make yourself aware of such fees before requesting the transfer.
SCHEDULE D: BUSINESS TERMS FOR FUTURES AND OPTIONSSCOPEThis SCHEDULE D supplements and amends the Terms and Conditions as expressly provided below. In the eventof any conflict or inconsistency between the Terms and Conditions and this SCHEDULE D the provisions in thisSchedule D shall prevail. You acknowledge and agree that, by subscribing to these Terms and Conditions, youwill be bound by the provisions of this SCHEDULE D.
SCHEDULE D, together with the main body of the Terms and Conditions will govern the relationship between
you and us, when you enter into a Transaction relating to‘Futures Contracts and Options Contracts’ (defined below) traded on a Market, the Order for which is placedon a quote provided by us (either through our Online Trading Facility or via telephone).
DEFINITIONS
Words or phrases defined in the main body of the Terms and Conditions shall be assigned the same meaning
in this SCHEDULE D, unless otherwise defined.
In this SCHEDULE D, the following words and phrases shall, unless the context otherwise requires, have thefollowing meanings and may be used in the singular or plural as appropriate:“Options Contract(s)”, when used in this SCHEDULE D, unless the context requires otherwise, shall mean any
Transaction in an option, the Order for which is placed on a quote provided by us (either through our Online
Trading Facility or via telephone);“Futures Contract(s)”, when used in this SCHEDULE D, unless the context requires otherwise, shall mean any
Transaction in a future, the Order for which is placed on a quote provided by us (either through our Online
Trading Facility or via telephone).

SERVICES
Subject to you fulfilling your obligations under the Terms and Conditions, we may accept Orders from you toenter into Transactions relating to ‘Futures Contracts and Options Contracts’ traded on a Market (either throughour Online Trading Facility or via telephone).

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
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A Futures Contract involves the obligation to make, or to take, delivery of the Underlying Instrument of thecontract at a future date, or in some cases to settle the position with cash; we offer the possibility to enter into
cash settled Futures Contracts; therefore, unless otherwise agreed in writing between us (you and us), you
acknowledge and agree that you will not be entitled to delivery of, or be required to deliver, the Underlying
Instrument to which a Futures Contract relates, nor will you acquire any interest in the relevant Underlying
Instrument during the life of the contract.
We may offer you the possibility to enter into an Options Contract involving an obligation to make, or to take,delivery of the Underlying Instrument of the contract at a future date and price, or in some cases to settle theposition with cash; the obligation to make or to take delivery of the contract’s Underlying Instrument will only
relate to instances where the Underlying Instrument is a Futures Contract or an Equity; in such instances, unlessotherwise agreed in writing between us (you and us), you acknowledge and agree that you will not acquire any
interest in the relevant Underlying Instrument or be entitled to receive dividends or any equivalent thereof, to
exercise voting rights, to receive any rights pursuant to any rights or bonus issue, or to participate in any placing
or open offer
prior to the exercise of the Options Contract; where the Options Contract is for cash settlement, you
acknowledge and agree that you will not be entitled to delivery of, or be required to deliver, the Underlying
Instrument to which an Options Contract relates, nor will you acquire, or be entitled to acquire, any interest in
the relevant Underlying Instrument, unless we (you and us) expressly otherwise agree in writing.
MARGINWe reserve the right to require you to post and hold Margin in addition to the Margin required by the relevant
exchange(s); such Margin requirements will be communicated to you from time to time.
We may apply assets held by us or by our Nominee on your behalf as Margin, which may be used by you to
conduct Margined Transactions in either Futures Contracts or Options Contracts.
Where we or our Nominee holds bonds or Equities on your behalf, we shall rate the value of such Equities andbonds that we choose to accept as consideration for Margin in our sole and absolute discretion on a daily basis
following the close of Markets; when rating such bonds and Equities, we use a percentage rating (as determinedby us in our sole and absolute discretion) to value the securities held; the cumulative valuation is then added
to your Account as usable Margin, which can be viewed by you in the Secure Access Website(s) and/or on our
Online Trading Facility (where available); because such Margin is tied to non-cash collateral that is subject tomarket movements, you expressly acknowledges that the usable Margin derived from such non-cash collateralwill fluctuate based on market movements from time to time.
PAYMENT, WITHDRAWAL AND SET-OFF
Specific Sections of the main body of the Terms and Conditions shall not apply to you when you enter into
Transactions in Options Contracts or Futures Contracts; rather, for the purposes of trading in such Transactions,
we offer our customers multi-currency accounts; in that regard, you acknowledge and agree to the following:
all funds transferred into your Account (either by us or by you) will remain in the currency of transfer unless
we accept alternative instructions from you; where we accept such alternative instructions, we will convert
such funds into the currency of your choice; all payments from your Account will be made in the currency ofthe payment obligation, unless we (you and us) otherwise agree; where you do not hold the relevant currency
for payment and we (you and us) do not agree to convert all or a portion of your funds to meet the payment
obligation, we will charge your Account with a floating debit in the amount and currency of the relevant
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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payment obligation; we will not remove any funds or force the currency conversion; the floating debit willaccrue interest at the relevant rate prescribed in the Commission, Charges & Margin Schedule that is posted
from time to time on our Online Trading Facility, as the same may be amended from time to time; it is yourresponsibility to extinguish this obligation by either asking us to convert available funds, or to transfer sufficient
funds in the relevant currency; until you take such action, we will continue to charge interest; where you havesuch floating debit balances on your Account, we will not allow you to enter into Transactions with youravailable funds in excess of the net balance (available funds less floating debit obligations at the our elected
rate of exchange) the provisions of this SCHEDULE D does not restrict our right or any other rights to set-off asprovided under the Terms and Conditions; you should be aware that we may exercise our right of set-off at
any time and for any reason irrespective of the provisions of SCHEDULE D of the Terms; you are, therefore,
urged to settle all floating debits as soon as possible.
TRADING ARRANGEMENTS
You understand that Markets may from time to time sanction the making of contracts by us offexchange inorder to satisfy your Order, where there has been an error in the execution of your Order on-exchange; wherea better price (an improvement) can be obtained, we may seek to secure and offer that improvement to you;where, in response to your Order, we have executed a buy or sell in accordance with your instruction in yourOrder to buy or, as the case may be, to sell, but have traded the wrong delivery/expiry month or wrong exercise
price of the relevant contract, then we may in accordance with the Rules of any relevant Market offset any loss
arising from that trade against any improvement achieved for you in the course of correctly satisfying yourOrder, thus offering you only the net improvement, if any.
Unless otherwise agreed in writing between us (you and us) or where the Rules of a Market provide otherwise,
whenever any Transaction is entered into to close out any existing Transaction, then any obligations under bothsets of Transactions shall automatically and immediately be terminated upon entering into the second
Transaction, except for any settlement payment due in respect of such closed out Transactions.
Where the relevant Market or intermediate broker does not specify a particular Transaction when making adelivery or exercising a contract, we may allocate randomly or in a way which seems to it to be most equitable.
EXERCISE OF OPTIONS
You understand that Markets have established exercise cut-off times for the tender of instructions in relation
to exercise of options and that options will become worthless in the event that you do not deliver instructions
by such expiration time; you also acknowledges that we may establish exercise cut-off times which may beearlier than the exercise cut-off times established by the relevant Market and that you shall have no claims
against us arising out of the fact that an option was not exercised as a direct result of our negligent failure to
inform you of such own exercise cut-off time set by us in respect of the particular option.
Where by virtue of Market rules an option is exercised automatically under a back to back transaction which
was entered into by us on your instructions, the corresponding Transaction will be deemed to have been
automatically exercised at the same time.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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CONTRACTS REQUIRING NON-CASH SETTLEMENTWith respect to Options Contracts requiring non-cash settlement, you shall make Securities deliverable by you
available for settlement on or before the settlement date; where there are insufficient Securities in yourAccount and we proceed to settlement, we may buy the Securities required for delivery at a price we believe
to be reasonable, charge your Account for the cost thereof, deliver the Securities to satisfy the delivery
obligation, and credit your Account with the net proceeds thereof (after deduction of commission and othercosts).
You will notify us of all relevant details required by us of your settlement agent in respect of Transactions which
may be subject to Securities delivery obligations; you will procure that your settlement agent enters into suchother documentation as may be necessary to ensure that the clearing and settlement of such Transactions
takes effect without liability to us.
CLEARING AND GIVE UP ARRANGEMENTS
Unless otherwise agreed between us (you and us), we (you and us) as per this SCHEDULE D, we may clear all
Transactions with another broker or dealer as specified by us.
You may request, but we shall not be obliged to comply, that we establish a give-up arrangement between you
and another broker or dealer; where we agree to establish such a give-up arrangement, you authorise us toenter into and execute any International Uniform Give-Up Agreement on your behalf; where you become aparty to such an International Give-Up Agreement, the provisions of the International Give-Up Agreement shallprevail over these Terms and Conditions (inclusive of this SCHEDULE D) in the event of any inconsistency.
In respect of every Transaction given up to be cleared by another broker or dealer as specified by you: if suchbroker or dealer accepts the give-up, we shall (without prejudice to any claim we may have for commission orother payment) upon such acceptance have no obligation(s) to you for its performance; and/or if such otherbroker or dealer declines to accept the give-up, we shall be entitled at our option and in our sole discretion
either to confirm the Transaction with you or to liquidate it by such sale, purchase, disposal or other Transaction
or cancellation as we may in our discretion determine, whether on the relevant Market or by private contract
or any other feasible method (including us taking it over or transferring it to an Associated Company), and any
balance resulting from such liquidation shall be promptly settled between us (you and us), but without
prejudicing our rights under the Terms and Conditions (inclusive of this SCHEDULE D) or otherwise.
Subject to the Rules of any relevant Market, SCHEDULE D apply where there is a give-up agreement between
you and a third party executing broker, and the reference number or mnemonic applicable to you is quoted bysuch executing broker when a Transaction is submitted to us for clearing; in acting as your clearing broker, weshall accept a Transaction given up to us for clearing only if we have agreed with you to clear Transactions ofsuch a description and the acceptance thereof would not breach any position or other limits applicable to yourAccount with us; notwithstanding any provision contained in the relevant give-up agreement, if we accepts
such Transaction for clearing, such Transaction shall be binding and conclusive on you immediately on its
acceptance for clearing by us whether or not the details of such Transaction have previously been confirmed
to us by you; we shall not be liable to you for any losses, costs, expenses or damages arising from any
discrepancy between details in your instructions to such executing broker and details of Transactions submitted
to us for clearing; any dispute relating to a Transaction given up or attempted to be given up to us for clearing
shall be determined under applicable arbitration rules of the relevant Market.
TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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Subject to the Rules of any relevant Market, if a give-up agreement between you and a third party executing
broker provides that the executing broker will invoice us directly for its commissions in relation to the executionof an Order, then we shall be entitled to rely on the details specified in any invoice presented to us by suchexecuting broker and, notwithstanding that the amounts specified in the invoice may be incorrect, you shallfully reimburse us for any sum paid to the executing broker in respect of that invoice; we shall have no liability
to you for any losses, costs, expenses or damages incurred or suffered by you as a result of an incorrect amountbeing specified in an invoice.

SCHEDULE E: BUSINESS TERMS FOR OTC OPTIONSSCOPEThis SCHEDULE E supplements and amends the Terms and Conditions as expressly provided below. In the eventof any conflict or inconsistency between the Terms and Conditions and this SCHEDULE E the provisions in thisSCHEDULE E shall prevail. You acknowledge and agree that, by subscribing to these Terms and Conditions in
the manner, you will be bound by the provisions of this SCHEDULE E.
SCHEDULE E, together with the main body of the Terms will govern the relationship between you and us, when
you enter into a Transaction relating to ‘OTC Options Contracts’ (defined below), the Order for which is placedon a quote provided by us (either through our Online Trading Facility or via telephone).
DEFINITIONS
Words or phrases defined in the main body of the Terms and Conditions shall be assigned the same meaning
in this SCHEDULE E unless otherwise defined.
In this SCHEDULE E, the following words and phrases shall, unless the context otherwise requires, have thefollowing meanings and may be used in the singular or plural as appropriate:“Contract Duration”, when used in this SCHEDULE E, unless the context requires otherwise, shall mean thelength of time that the holder-buyer of an OTC Options Contract has to exercise the contract;“Cut-off Time”, when used in this SCHEDULE E, unless the context requires otherwise, shall mean the time of
day by which you must deliver an instruction to us and we must process such instruction, in order to exercise
an OTC Options Contract, which may differ by Underlying Instrument;“OTC Options Contract(s)”, when used in this SCHEDULE E, unless the context requires otherwise, shall mean
any Transaction in an option that is traded OTC, the Order for which is placed on a quote provided by us (either
through our Online Trading Facility or via telephone);“Premium”, when used in this SCHEDULE E, unless the context requires otherwise, shall mean the price of an
OTC Options Contract, which is payable by you where you purchase an OTC Options Contract, and is payable to
you where you sell an OTC Options Contract;

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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SERVICES
Subject to you fulfilling your obligations under the Terms and Conditions, we may accept Orders from you toenter into Transactions relating to ‘OTC Options Contracts’ (either through our Online Trading Facility or via
telephone), where the underlying Instrument of such contract is a:• Rolling Spot Forex Contract, or• CFD with an Underlying Instrument in gold, silver, or any other precious metal; or any other product or
instrument offered by us from time to time.
MARGINSCHEDULE E below, the provisions oof specific sections of the main body of the Terms and Conditions shallapply to you, when you enter into an OTC Options Contract.
You are made specifically aware that your Margin Requirements for your Open Positions in OTC Options
Contracts will be displayed on our Online Trading Facility in real-time or notified by us to you from time to time;
the Margin Requirements displayed on our Online Trading Facility or separately notified to you by us will becalculated by us in our sole and absolute discretion, and no alternative method of calculation provided by youor any third party will be accepted by us as a valid Margin Requirement calculation.
Details of how we calculate your Margin Requirements will be provided by us to you from time to time; you
may request such details from us by submitting a written request to our Compliance Officer by e-mail at
support@ttcm.com.
TRADING ARRANGEMENTS
Before entering into an OTC Options Contract, you may request an indicative quote for an OTC Options Contractchoosing terms such as, but not limited to, the contract’s:• strike price;• delta;• Underlying Instrument; and/or• Contract Duration, which may be for as little as one calendar day and as much as one calendar year.
Based on the terms provided by you, we may or may not offer an indicative quote.
As a condition to entering into certain OTC Options Contracts, you may be required to pay a Premium; you mustsatisfy any and all Premium requirements immediately as a condition to entering into or maintaining any such
Transaction and we may decline to enter into the Transaction if you do not have sufficient funds in your Accountto satisfy the Premium requirement for that Transaction at the time the relevant Order is placed.
Where Premium is payable by you, we shall deduct the Premium from the monies held in your Account; where
you are due Premium for entering into an OTC Options Contract, we will add the Premium to the monies heldin your Account.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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DELIVERY
You acknowledge and agree that upon exercise of an OTC Options Contract by the contract’s holder/buyer, youwill be under an obligation to take delivery of the contract’s Underlying Instrument; in such instances, we will
deliver to your Account a Rolling Spot Forex Contract or CFD; you agree that the delivered Rolling Spot Forex
Contract or CFD is subject to Margin Requirements.

TTCM Traders Capital Limited, a limited liability Company, incorporated in Bermuda under section 14 and 6/132C(1) of the Companies Act 1981 andregistered with the Registrar of Companies under Company number 54135, with Registered Address 5th Floor, Andrew’s Place, 51 Church Street,
Hamilton, HM12 Bermuda.

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