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Created July 23, 2020 14:30
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This notice is provided by Revolut Securities Inc. (<b>“we”</b> or <b>“Revolut”</b>)
and provides you with important information about the risks associated
with the services we provide to you. Unless otherwise defined here,
capitalized terms have the same meaning as in the agreement detailing
how we will provide our dealing services to you.<br><br>
Revolut provides clients with the ability to buy and sell
various Instruments made available via the Revolut App. Before using
your Revolut App to submit Orders in relation to Instruments, you should
consider whether you have understood the risks detailed in this notice.
If you have any questions or are in any doubt about the content of this
notice, you should seek appropriate professional advice.<br><br>
<b>Trading financial instruments involves an element of risk.
The value of your investment may fall as well as rise and you may get
back less than your initial investment, and in some cases you may lose
your entire initial investment. Past performance of an Instrument is not
an indication of its future performance.</b><br><br>
<b>No Advice</b><br><br>
We provide an “execution only” service, meaning that we will not
offer you any advice or provide you with any recommendations regarding
the suitability of any particular Instrument. While we may from time to
time provide you with factual information about Instruments, this
information is not, and should not be interpreted as, advice, and any
decision to submit Orders is made solely by you.
<br><br>
<b>Insolvency Risk</b><br><br>
Where your Instrument is a share in a company, you own a portion
of the issuing company’s share capital, with your ownership interest
determined by the number of shares you own as a percentage of the total
issued share capital of that company. You should be aware that the
insolvency of a company may drastically reduce the value of its shares,
potentially risking the loss of your entire investment. Ordinary
shareholders rank lowest in the order of priority in the event of an
insolvency, meaning the company may have exhausted the value of its
available assets in paying other creditors by that time it comes to
paying its shareholders, increasing the risk that shareholders will not
receive any money from the company for their shares.
<br><br>
<b>Volatility Risk, Market Fluctuations and Monitoring your Positions</b><br><br>
We do not provide, nor can we control, the prices for the
Instruments you may buy or sell via the Revolut App. The market price of
Instruments is influenced by a broad array of factors and can change
rapidly and unexpectedly, meaning the value of those Instruments, and
your related profits and losses on your Positions, can also change
rapidly and unexpectedly. Amongst other things, prices of Instruments
can be subject to gapping (where the price of the Instrument opens
significantly above or below the previous day’s closing price) and
slippage (where the price an Instrument is executed at is different to
the price to that which was quoted at the time the Order was submitted),
especially in periods of market volatility.<br><br>
You have the sole responsibility of monitoring the value of your
Positions you hold and you should ensure that you can access the
Revolut App on an ongoing basis so as to do this.
<br><br>
<b>Liquidity Risk</b><br><br>
The Instruments made available via the Revolut App are all
admitted to trading on an underlying market, and in the event that you
wish to sell your Instruments, a corresponding buyer of those
Instruments must be found in the underlying market. While certain
Instruments can be very liquid, you should be aware that others, such as
the shares of smaller companies or of companies located in other
geographies or territories, can be less liquid and it is not guaranteed
that there will be a buyer for your Instruments. In some circumstances,
such as instances of market volatility or where trading in a particular
Instrument or on a particular underlying market has been suspended or
otherwise restricted, it may not be possible to find a buyer for your
Instruments, meaning you will not be able to liquidate your Positions.
<br><br>
<b>Technical Risks</b><br><br>
While we will try to make the Revolut App available to you
without interruption, we cannot guarantee that the Revolut App will
always be available to you. In these circumstances, your Orders may not
be able to be submitted and you may not be able to monitor your
Positions via the Revolut App.
<br><br>
<b>Tax</b><br><br>
You should be aware that various tax regimes may apply to your
trading in Instruments depending on your personal tax status and the
rules and regulations in force from time to time. You have the sole
responsibility of determining the relevant tax impact to your trading
and you should consult an appropriate professional advisor if you have
any questions or doubts in this regard.
<br><br>
<b>Financial Resources</b><br><br>
You should ensure that you have appropriate financial resources
to engage in the buying and selling of Instruments, and that you have
the ability to bear any losses that may arise from your trading
activity. You should not rely on being able to generate profits in order
to pay down or relinquish any credit or financing you have arranged for
the purposes of buying and selling Instruments.
<br><br>
<b>Legal and Regulatory Changes</b><br><br>
Changes to current legislation and regulations could give rise
to changes in the price of Instruments, which could impact your profits
or losses. The impact of such legal and regulatory changes can be
material and unexpected, and may impact certain companies, markets and
jurisdictions more than others.
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