Dealing with products and securities offered by Noor (the “Products”) entails a series of risks such as (without limitation) market risks, hedging and speculating risks including short selling risks, frequent trading “known as day trading”, extended hours trading, execution and technology risks, product risks, currency risks, legal risks, accounting risks, credit risks, foreign country risks, lack of regulatory oversight risks, leverage risks, and tax risks. Investing in the Products requires an understanding of the nature of financial activities in general and a good knowledge of the nature of the Products, the risks involved and a financial ability to bear the prospective losses which may be incurred as a result of the investment in the Products. This statement may not be sufficient to explain to you all the risks of dealing with the Products. Therefore, before you start dealing with Noor and the Products, you should carefully familiarize yourself with the nature of, and the risks involved by, investing or transacting in the Products. You should fully understand and be aware that it is your sole responsibility to make your own independent appraisal and investigation into the risks associated with your desired investment or transacting in any Product. You should only rely on your own assessment of the considered investment or transaction. You should not construe the contents of any communication from Noor, its officers, employees or agents as legal, tax or other advice. Prior to investing in the Products, you should consult with your investment, accounting, legal, financial, tax and other relevant advisers to evaluate independently the risks, consequences and suitability of an investment or transaction in the Products. You must also ensure that you have sufficient knowledge, experience, sophistication and professional advice to make your own evaluation of the merits and risks of investing in or transacting with the Products. Noor makes no representation as to the proper characterization of the Products for legal, accounting, regulatory or tax purposes, or as to the ability of a particular investor to invest or transact in the Products under applicable legal investment restrictions. All investors whose investment authority is subject to legal or tax restrictions should consult their legal advisers to determine whether and to what extent the Products would legally constitute investments for such investors. Investors should invest or transact in the Products only if they can withstand a total loss of their investment. You acknowledge that no guarantee or assurance whatsoever can be given by Noor with respect to profits and/or returns on the capital invested in the Products. Some of the Products such as derivatives can be highly volatile and are subject to a change in the value of the underlying asset. You may also be requested to deposit a margin before starting your activities with Noor. Trading derivative instruments will therefore allow you to leverage your investment by paying only a fraction of the capital required and still having a full exposure to the fluctuation of the price of the underlying asset. You should calculate the extent to which the value of the underlying asset must increase for your position to become profitable, taking into account all transaction costs. The value of a derivative instrument may be influenced by a number of factors such as the level of interest rates and the price and volatility of the underlying asset. You will also be exposed to risks which are proper to the nature of the underlying asset. You should familiarize yourself with these risks prior to entering into a derivative transaction. Certain strategies are used to mitigate the risk of entering into a derivative transaction. These strategies may not be effective in certain circumstances. Strategies using combinations of positions may be as risky as taking simple ‘long’ or ‘short’ positions. Hedging transactions may require a constant monitoring and failure to properly monitor a hedging transaction can make the position either unhinged or over hedged and losses may be incurred. You must monitor your positions and you shall not rely on Noor doing so. You further acknowledge that a stop-loss does not imply that the derivative instrument will be closed at that price or even closed. A sell-at-market-order or a limited order does not imply that the derivative instrument will be closed or executed at that price or even closed or executed.. Positions maintained for clients are non-transferable to third parties. Investments or transactions in the Products are not insured under any insurance program.