Common use of TRADING IN CRYPTOCURRENCIES Clause in Contracts

TRADING IN CRYPTOCURRENCIES. 25.1 In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 In case of trading CFDs in Cryptocurrencies the Client accept a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 The above factors could result in material adverse effect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 The Client agrees and accepts that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 24.1 In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 24.2 In case of trading CFDs in Cryptocurrencies the Client accept a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 24.3 The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 24.4 The above factors could result in material adverse effect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 24.5 The Client agrees and accepts that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date date, we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 29.1 In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 29.2 In case of trading CFDs in Cryptocurrencies the Client accept a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 29.3 The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 29.4 The above factors could result in material adverse effect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 29.5 The Client agrees and accepts that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 In the case of trading in CFDs CFOs where the underlying asset is a Cryptocurrency, the Client should take in into consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to leadsto a very high intra-day volatility in the prices. 25.2 In the case of trading CFDs CFOs in Cryptocurrencies the Client accept accepts a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 The Company’s Eurotrade SA's pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s 's discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such onsuch exchanges or the price and market data feed becoming unavailable to us. 25.4 The above factors could result in a material adverse effect on Clients’ ' open positions, including the loss of all of Clients’ ' invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ ' positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be ' maybe unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD ' CFO positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’', the entire investment will potentially be lost altogether. 25.5 The Client agrees and accepts that have been informed by the Company Eurotrade SA of and understand this particular risk, risk and that shall take that risk into account when taking any investment decisions in respect of trading CFDs CFOs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity equity-related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations situations, we may not be able to provide a CFD CFO to reflect a short position at all, or Clients’ ' may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date date, we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 24.1 In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 24.2 In case of trading CFDs in Cryptocurrencies the Client accept a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 24.3 The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 24.4 The above factors could result in material adverse effect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 24.5 The Client agrees and accepts that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 10.1. In the case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration consider that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice notice, which often leads to a very high intra-day volatility in the prices. 25.2 10.2. In the case of trading CFDs in Cryptocurrencies Cryptocurrencies, the Client accept accepts a significantly higher risk of loss of the invested capital capital, which may occur within a very short concise time frame as a result of due to unanticipated adverse price movements of the Cryptocurrencies. 25.3 10.3. The Company’s pricing data and market on the Cryptocurrencies are originated from the decentralized digital decentralized exchanges in which the Cryptocurrencies are traded ontraded. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges exchanges, which may significantly differ from the rules and practices procedures observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 10.4. The above factors could result in a material adverse effect on Clients’ open positions, including the loss of all of Clients’ the Client’s invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency. As a result, and Clients’ clients may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where the trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be a significant price differential (price gapping) which may impact the value of Clients’ the Client’s CFD positions in the relevant Cryptocurrencies and result in significant substantial gains or losses. Where trading does not resume resume, the Clients’, ’ entire investment will potentially be lost altogether. 25.5 10.5. The Client agrees and accepts that have (s)he has been informed by the Company of and understand understands this particular risk, risk and that shall will take that risk into account when taking making any investment decisions in respect of regarding trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult challenging to take a Short Position. For instance, if the underlying equity equity-related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have has prohibited short trading. For In these situations situations, we may not be able to provide a CFD to reflect a short position at all, or Clients’ Clients may be charged an additional fee to open such a Short Position. We will advise Clients clients, where possible possible, of such additional fee fees in advance advance, which will be based on the date we will become aware of such short short-selling exclusions. In case Clients clients are trading CFDs in CryptocurrenciesCryptocurrency, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 28.1 In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 28.2 In case of trading CFDs in Cryptocurrencies the Client accept a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 28.3 The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 28.4 The above factors could result in material adverse effect efect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 28.5 The Client agrees and accepts that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 The Client should be aware that the Cryptocurrencies are not recognized as Financial Instruments for the purposes of MiFID. In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 . which may be significantly higher compared to the Financial Instruments recognized by MiFID. In case of trading CFDs in Cryptocurrencies the Client accept a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 . Any losses the Client may incur due to trading CFDs in Cryptocurrencies are not covered by the protections under the Investor Compensation Fund scheme. Likewise, any complaints that you may have or any disputes that may arise between you and the Company in connection with you trading CFDs in Cryptocurrencies are not eligible and shall not be accepted for consideration by the Financial Ombudsman of the Republic of Cyprus. The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 . The above factors could result in material adverse effect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts accept that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 . The Client agrees agree and accepts accept that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above. All other terms of this Agreement are also completely applicable to Clients when trade CFDs in Cryptocurrencies.

TRADING IN CRYPTOCURRENCIES. 25.1 In case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in the prices. 25.2 In case of trading CFDs in Cryptocurrencies the Client accept a significantly significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 The Company’s pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 The above factors could result in material adverse effect on Clients’ open positions, including the loss of all of Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant significant price differential (price gapping) which may impact the value of Clients’ CFD positions in the relevant Cryptocurrencies and result in significant significant gains or losses. Where trading does not resume Clients’, entire investment will potentially be lost altogether. 25.5 The Client agrees and accepts that have been informed by the Company of and understand this particular risk, and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult difficult to take a Short Position. For instance, if the underlying equity related Financial Instrument is in short capitalization or is illiquid, or where an Exchange or regulator have prohibited short trading. For these situations we may not be able to provide a CFD to reflect reflect a short position at all, or Clients’ may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee in advance which will be based on the date we will become aware of such short selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.

TRADING IN CRYPTOCURRENCIES. 25.1 23.1. In the case of trading in CFDs where the underlying asset is a Cryptocurrency, the Client should take in into consideration that Cryptocurrencies are traded on non-regulated decentralized digital exchanges. Hence, the price formation and the price movements of the Cryptocurrencies depend solely on the internal rules of the particular digital exchange, which may be subject to change at any point in time and without notice which often leads to a very high intra-day volatility in point 23.2. In the prices. 25.2 In case of trading CFDs in Cryptocurrencies Cryptocurrencies, the Client accept accepts a significantly higher risk of loss of the invested capital which may occur within a very short time frame as a result of unanticipated adverse price movements of the Cryptocurrencies. 25.3 The Company’s 23.3. Eurotrade SA's pricing data and market on the Cryptocurrencies are originated from the digital decentralized exchanges the Cryptocurrencies are traded on. Considering that such exchanges are not regulated, the market data and price feed information provided by such exchanges may be subject to the internal rules and practices of such exchanges which may significantly differ from the rules and practices observed by the regulated exchanges. Therefore, the pricing formation rules of the Cryptocurrency exchanges are not subject to any regulatory supervision and may be changed at the relevant digital exchange’s 's discretion at any time. Also, such digital exchanges may introduce trading suspensions or take other actions that may result in suspension or cessation of trading on such exchanges or the price and market data feed becoming unavailable to us. 25.4 23.4. The above factors could result in a material adverse effect on Clients’ open positions' Open Positions, including the loss of all of the Clients’ invested capital. Where a temporary or permanent disruption to or cessation of trading occurs on any digital exchange from which we derive our price feeds for the relevant Cryptocurrency, Clients’ ' positions in such Cryptocurrency will be priced at the last available price for the relevant Cryptocurrency, and Clients’ ' may be unable to close or liquidate their position or withdraw any funds related to such position until the trading on the relevant digital exchange resumes (if at all). The Client accepts that where trading resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be a significant price differential (price gapping) which may impact the value of the Clients’ ' CFD positions in the relevant Cryptocurrencies and result in significant gains or losses. Where trading does not resume Clients’', the entire investment will potentially be lost altogether. 25.5 23.5. The Client agrees and accepts that have been informed by the Company Eurotrade SA of and understand understands this particular risk, risk and that shall take that risk into account when taking any investment decisions in respect of trading CFDs in Cryptocurrencies. In some regulated equity markets, it could be difficult to take a Short Position. For instance, if the underlying equity equity-related Financial Instrument is in short capitalization or is illiquid, or where an Exchange a digital exchange or regulator have has prohibited short trading. For these situations situations, we may not be able to provide a CFD to reflect a short position at all, or Clients’ ' may be charged an additional fee to open such a Short Position. We will advise Clients where possible of such additional fee fees in advance which will be based on the date date, we will become aware of such short short-selling exclusions. In case Clients are trading CFDs in Cryptocurrencies, they fully understand and agree with the additional risks associated with such trading, as set out above.