3071 | 06/29/2023

Day Trading Risk Disclosure Statement
This Day Trading Risk Disclosure Statement is being provided to you in the event yourInteractive Brokers (IB) Reg T margin account becomes, or already is, classified as aPattern Day Trader account. This does not apply to customers with Portfolio Marginaccounts.
A Day Trade is defined as a buy and sell of the same security on the same day.
Regulators define a Pattern Day Trader as any customer who executes four (4) ormore Day Trades within five (5) business days. Pattern Day Traders that do not meet
minimum equity requirements may be subject to regulatory restrictions.
For accounts that do not meet the $25,000 minimum equity, IB prevents the accountfrom executing any additional day trades after three (3) day trades within a five (5) day
period. The intention is to prevent customers that do not meet the equity minimum frombeing classified as Pattern Day Traders, which may subject the account to restrictions.
Please review the IBKR website for additional details.
You should consider the following points before engaging in a day-trading strategy. For
purposes of this notice, a "day-trading strategy" means an overall trading strategy
characterized by the regular transmission by a customer of intra-day orders to effectboth purchase and sale transactions in the same security or securities.
Day trading can be extremely risky. Day trading generally is not appropriate forsomeone of limited resources and limited investment or trading experience and low
risk tolerance. You should be prepared to lose all of the funds that you use for daytrading. In particular, you should not fund day-trading activities with retirement savings,
student loans, second mortgages, emergency funds, funds set aside for purposessuch as education or home ownership, or funds required to meet your living expenses.
Further, certain evidence indicates that an investment of less than $50,000 will
significantly impair the ability of a day trader to make a profit. Of course, an investmentof $50,000 or more will in no way guarantee success.

Be cautious of claims of large profits from day trading. You should be wary ofadvertisements or other statements that emphasize the potential for large profits in daytrading. Day trading can also lead to large and immediate financial losses.
Day trading requires knowledge of securities markets. Day trading requires indepth knowledge of the securities markets and trading techniques and strategies. In
attempting to profit through day trading, you must compete with professional, licensed
traders employed by securities firms. You should have appropriate experience before
engaging in day trading.
Day trading requires knowledge of a firm's operations. You should be familiar witha securities firm's business practices, including the operation of the firm's orderexecution systems and procedures. Under certain market conditions, you may find it
difficult or impossible to liquidate a position quickly at a reasonable price. This canoccur, for example, when the market for a stock suddenly drops, or if trading is halted
due to recent news events or unusual trading activity. The more volatile a stock is, thegreater the likelihood that problems may be encountered in executing a transaction. In
addition to normal market risks, you may experience losses due to systems failures.
Day trading will generate substantial commissions, even if the per trade cost islow. Day trading involves aggressive trading, and generally you will pay commission
on each trade. The total daily commissions that you pay on your trades will add to yourlosses or significantly reduce your earnings.
Day trading on margin or short selling may result in losses beyond your initialinvestment. When you day trade with funds borrowed from a firm or someone else,
you can lose more than the funds you originally placed at risk. A decline in the value ofthe securities that are purchased may require you to provide additional funds to thefirm to avoid the forced sale of those securities or other securities in your account.
Short selling as part of your day-trading strategy also may lead to extraordinary losses,
because you may have to purchase a stock at a very high price in order to cover ashort position.
Potential Registration Requirements. Persons providing investment advice forothers or managing securities accounts for others may need to register as either an"Investment Advisor" under the Investment Advisors Act of 1940 or as a "Broker" or"Dealer" under the Securities Exchange Act of 1934. Such activities may also trigger
state registration requirements.