Risk Factors

NFA Notice Integrated Brokerage Services, LLC (NFA#238748) and Alliance Financial, LLC (NFA#281989) are members of the National Futures Association (NFA).

FINRA/SIPC Notice IBS Securities, LLC (B/D #037921) is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) and is registered with the various states. Securities transactions are introduced to and cleared through MF Global Securities Inc., (formerly, Man Securities, Inc.) the retail securities division of MF Global Ltd.on a fully-disclosed basis.

Securities Investor Protection Corporation is located at 805 15th Street, N.W. Suite 800, Washington, D.C. 2005-2215. You can contact them via phone at (203) 271-8300; by fax at (202) 371-6728; or via email at asksipc@sipc.org

Monies deposited with Integrated Brokerage Services, LLC d/b/a IBS Futures, d/b/a IBS Forex and d/b/a IBS Metals; or with Alliance Financial, LLC d/b/a AFMetals are not SIPC insured.

Futures Risk Disclosure Past results are not necessarily indicative of future results. Futures trading, even when done by a professional trader, presents substantial risk of loss, and only funds that a customer can afford to lose should be used for futures trading. You should carefully examine whether or not futures trading is suitable for you in light of your financial condition.

Trading System Risk Disclosure Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.