6. Client’s confirmations
6.1 As of the date of the opening of the Account, the date of any Transaction in relation to the Account and any date on which the Agreement or any part thereof is revised, updated or amended, the Client confirms to the Bank and agrees to the following for the benefit of the Bank that:
a) The Client acknowledges and understands that trading in Forex Instruments is highly speculative, involves an extreme degree of risk and is generally suitable only for persons who can assume and sustain a risk of loss in excess of their Forex Margin.
b) The Client acknowledges and understands all the risks associated with Forex Transactions, in particular the risk resulting from the use of a significant leverage effect, the volatility of the markets, the liquidity risk, the legal risks resulting, in particular, from the market rules applicable to Forex Transactions, the technology risks and any other risks that may lead to a loss or any other Damage. The Client confirms that he is willing to assume these risks.
c) The Client acknowledges that he has read and understood the General Terms and Conditions and the Special Terms and Conditions for Forex, as well as the information contained in the documents to which these Special Terms and Conditions for Forex refer, and in particular the Bank’s website, the Trading Rules and the various prospectuses, fact sheets and other information sheets available on the Bank’s website or on any Forex Platform.
d) The Client in particular confirms that he has understood the explanations about any restrictions to use Forex Platforms, the leverage effect and the modification of the maximum leverage effect, the Required Margin and the Automatic Liquidation System, as explained in the Special Terms and Conditions for Forex and other documents to which the Special Terms and Conditions for Forex refer. The Client also confirms that he has understood and accepts the role of the Bank within the Forex Transactions and the risks and conflicts of interest related thereto.
e) The Client acknowledges and accepts that the Bank is entitled to liquidate his Open Positions that are not adequately margined and the Client will be liable for all losses as a result of such liquidation. The Client acknowledges that the Bank reserves the right to change the Liquidation Percentage at its sole discretion.
f) The Client confirms that neither the Bank nor its directors, managers, officers, employees, agents and other representatives guaranteed or guarantee to the Client that Forex Transactions will generate profits for the Client. Moreover, past yields and profits are no indication of future performance.
g) The Client acknowledges and understands that, in some cases, an amount higher than the assets deposited with the Bank can be lost, in which case he will be liable towards the Bank for the uncovered amount.
h) The Client confirms that the Forex Transactions he will carry out are suitable for him.