CFTC Risk Disclosure美國商品期貨交易委員會 風險披露

This brief statement, which has been adapted from the Risk Disclosure Statement for Future and Options that appears as Appendix A to Rule 1.55(c) promulgated by the U.S. Commodity Futures Trading Commission, does not purport to disclose all of the risks and other significant aspects of engaging in Spot Forex Transactions. In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk. Trading in Spot FOREX Contracts is not suitable for many members of the public. You should carefully consider whether FOREX trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances.

本聲明改編自作為美國商品期貨交易委員會發佈的Rule 1.55(c)的附錄A的期貨和期權風險披露聲明，它並不用於揭示即期外匯交易中的所有風險以及面面俱到介紹該事務中其他重要的方面。由於這些風險的關系，您必須在完全理解需要簽署的合約（以及合約關系）以及您可能承受的風險之後才能從事交易。FOREX現貨合約交易並不適合所有人。您需要根據自己的經驗、目標、經濟基礎以及其他相關的具體情況認真考慮FOREX交易是否適合您。

1. Effect of "Leverage" or "Gearing"

Spot Forex Transactions carry a high degree of risk. The amount of initial margin is small relative to the value of the Spot FOREX Contract so that transactions are "leveraged" or "geared". A relatively small market movement will 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 the firm 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. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.

1. “槓桿”效應

即期外匯交易風險系數很高。保證金只占FOREX現貨合約價值的很小一部分，這被稱作“槓桿”效應。市場很小的波動可能會對您的賬戶有較大的影響；這對您可能是有利的，也可能是不利的。您可能損失全部的初始保證金以及全部為維持賬戶未平倉頭寸追加的保證金。如果市場朝著客戶頭寸相反的方向移動或保證金金額提高，客戶將被要求追加額外的保證金以維持賬戶未平倉頭寸。如果客戶沒有按時追加保證金，則賬戶中的頭寸將被全部強制平倉，由此造成的所有損失由客戶自己負擔。

2. Risk-reducing orders or strategies

The placing of certain orders (e.g., "stop-loss" orders or "stop-limit" orders) that are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as "spread" and "straddle" positions may be as risky as taking simple "long" or "short" positions.

2. 降低風險的交易指令或策略

用於控制損失在某個限度的某些指令（諸如“止損”、“止損限價”等）有時候可能不起什麼作用，因為某些市場條件可能會使這些命令無法執行。在使用類似差價交易、跨式組合頭寸交易策略時，其風險可能與簡單地持有“多頭”或“空頭”頭寸一樣高。

3. Terms and conditions of contracts

You should ask the firm with which you deal about the terms and conditions of the specific currencies which you are trading and associated obligations (e.g., the circumstances under which you may become obligated, under extraordinary circumstances, to make or take physical delivery of the full currency value).

3. 合約條款

在開始交易之前，您應相相關公司咨詢具體的交易貨幣的所有細節以及相關責任（例如，在哪些特別情況下您有義務負責全部貨幣價值的實際交貨）。

4. Suspension or restriction of trading and pricing relationships Market conditions (e.g., lack of liquidity) and/or the operation of the rules of certain markets (e.g., suspension of trading in any Spot FOREX Contract because of government intervention or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions.

4. 交易暫停或交易受到限制

某些市場狀況（例如缺乏流動性）和/或市場的操作規則（例如由於政府幹預或“斷路器”而造成FOREX 現貨合約交易暫停）將會造成無法開倉或平倉或進行交易，這將導致風險增加。

5. Deposited cash and property

You should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign transactions, 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 had been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.

5. 資產的保全

您應了解如何保護您在進行國内或國外交易的過程中所存入的現金或其他形式的資產，尤其要了解在有關公司破產的情況下如何保護自己的財產。客戶能夠索回財產的多寡取決於當地的有關法律和法規。在某些司法管轄區，如果收回的數目不足，那麼可認定屬於您的財產將會像現金的形式那樣按比例分配給您。

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