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    • Turkey stocks lower at close of trade; BIST 100 down 1.47%

      Turkey stocks were lower after the close on Friday, as losses in the Textile & Leather, Banking and Food & Beverages sectors led shares lower. At the close in Istanbul, the BIST 100 lost 1.47% to hit a new 6-months low. The best performers of the session on the BIST 100 were Ipek Dogal Enerji Kaynaklari Arastirma ve Uretim AS (IS:IPEKE), which rose 4.18% or 0.280 points to trade at 6.980 at the close. Meanwhile, Dogan Sirketler Grubu Holding AS (IS:DOHOL) added 3.19% or 0.030 points to end at 0.970 and Anadolu Cam Sanayi AS (IS:ANACM) was up 3.13% or 0.080 points to 2.640 in late trade. The worst performers of the session were Yatas Yatak ve Yorgan Sanayi Ticaret AS (IS:YATAS), which fell 6.06% or 1.520 points to trade at 23.560 at the close. Aygaz AS (IS:AYGAZ) declined 5.86% or 0.71 points to end at 11.40 and Anadolu Efes Biracilik ve Malt Sanayi AS (IS:AEFES) was down 5.71% or 1.44 points to 23.76. Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 282 to 88 and 34 ended unchanged. Shares in Aygaz AS (IS:AYGAZ) fell to 52-week lows; falling 5.86% or 0.71 to 11.40. Gold Futures for June delivery was down 0.24% or 3.10 to $1297.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.63% or 0.42 to hit $66.62 a barrel, while the August Brent oil contract fell 1.22% or 0.95 to trade at $76.61 a barrel. USD/TRY was up 1.64% to 4.6000, while EUR/TRY rose 1.45% to 5.3741. The US Dollar Index Futures was up 0.12% at 94.06.

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    • Norway stocks higher at close of trade; Oslo OBX up 0.58%

      Norway stocks were higher after the close on Friday, as gains in the Media, Insurance and Capital Goods sectors led shares higher. At the close in Oslo, the Oslo OBX gained 0.58%. The best performers of the session on the Oslo OBX were Gjensidige Forsikring ASA (OL:GJFS), which rose 3.33% or 4.2 points to trade at 130.5 at the close. Meanwhile, Schibsted ASA A (OL:SBSTA) added 3.20% or 7.4 points to end at 238.4 and Petroleum Geo - Services ASA (OL:PGS) was up 2.57% or 1.01 points to 40.38 in late trade. The worst performers of the session were Grieg Seafood (OL:GSFO), which fell 4.63% or 4.25 points to trade at 87.45 at the close. Leroy Seafood Group ASA (OL:LSG) declined 2.95% or 1.6 points to end at 52.6 and SalMar ASA (OL:SALM) was down 1.90% or 6.80 points to 350.20. Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 97 to 71 and 34 ended unchanged. Crude oil for July delivery was down 0.64% or 0.43 to $66.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August fell 1.24% or 0.96 to hit $76.60 a barrel, while the June Gold Futures contract fell 0.24% or 3.10 to trade at $1297.00 a troy ounce. EUR/NOK was down 0.31% to 9.5349, while USD/NOK fell 0.18% to 8.1649. The US Dollar Index Futures was up 0.12% at 94.06.

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    • Asia stocks recover from earlier losses, Europe seen firm

      By Shinichi Saoshiro TOKYO (Reuters) - Asian equities recovered from early weakness on Friday as a lower yen supported Japanese stocks and firm exports boosted South Korean markets. Still, rekindled concerns about U.S. trade policies limited regional gains. Spreadbetters expect European stocks to follow Asia's firmer tone and have marked in a modest rise of 0.15 percent for Britain's FTSE (FTSE) and gains of 0.5 percent for Germany's DAX (GDAXI) and France's CAC (FCHI). MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) rose 0.1 percent but the index was still down roughly 0.6 percent for the week, during which it hit a six-week low on concerns about Italy's struggle to form a government. A fall on Wall Street on Thursday after the United States said it would impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, set the initial tone in Asia. Fears of a global trade conflict, which had partially receded in past weeks, were reignited as Washington's allies retaliated against the U.S. measures. However, regional sentiment recovered somewhat with South Korea's KOSPI (KS11) rising 0.7 percent on upbeat export data and Japan's Nikkei (N225) advancing 0.2 percent off the back of yen weakness against the dollar. Still, equity markets are likely to be weighed down, said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo, "as the United States has opened up a new point of contention on the trade front by getting involved with the European Union." "President Trump has not accomplished very much in terms of trade issues and is likely to remain vocal with the U.S. midterm elections coming up," he said. The Shanghai Composite Index (SSEC) fell 0.5 percent and the blue-chip CSI300 index (CSI300) dropped 0.75 percent. Traders said Chinese stocks were volatile as the long-awaited inclusion of large-cap shares from the country in MSCI's emerging markets index had failed to buoy the market or attract any immediate flows of foreign money. (SS) On Friday, about 230 yuan-denominated mainland A-shares were included in MSCI index for the first time. Bank of America Merrill Lynch (NYSE:BAC) estimates China's A-shares could account for some 30 percent of MSCI's emerging market index once they are fully included. "It took Korea and Taiwan some six to nine years to gain full weighting. It may take (China's) A-shares longer in our view due to size, access and capital mobility constraints," wrote equity strategists at Bank of America Merrill Lynch. The Canadian dollar and the Mexican peso were on the defensive, weighed down by the U.S. decision to impose tariffs. The euro was little changed at $1.1679 (EUR=), holding onto modest gains made on relief overnight as Italy's anti-establishment parties reached a deal to resurrect their proposed coalition government. The deal averted the prospect of a snap election, which had rattled global markets earlier this week and sent the euro to a 10-month low of $1.1510 on Tuesday. The dollar climbed 0.3 percent to 109.150 yen , supported by U.S. yields reversing their overnight declines. The 10-year Treasury yield (US10YT=RR) was at 2.867 percent after brushing a 1-1/2-month low of 2.759 percent on Tuesday. Brent crude (LCOc1) dipped 0.1 percent to $77.49 a barrel. U.S. crude was down 0.25 percent at $66.87 a barrel . Prices have swerved between a three-week low of $$74.49 and $78.75 this week on speculation about output by major oil-producing nations. Brent's premium over U.S. crude reached its widest since March 2015 this week. [O/R]

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Currencies

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CFD trading is risky. CLICK HERE to read full risk warning.

RISK DISCLOSURE STATEMENT

1.Purpose

The purpose of the Risk Disclosure Statement (“the Statement”) is to provide the Client appropriate guidance on the nature and risks of the specific types of financial instruments offered by TradesFX Limited (hereafter the “Company”).

The Client acknowledges, understands and agrees with the risks, disclosed below.

2.Legal Framework

This Statement is based on the provisions of the Investment Services and Activities and Regulated Markets Law of 2007 (No. 144(I)/2007), implementing Directive 2004/39/EC of the European Parliament and of the Council on Markets in Financial Instruments (“MiFID”). It should be noted that this Statement does not purport to disclose, or discuss all of the risks and other significant aspects of all transactions entered into with or through the Company. We outline the general nature of the risks of dealing in Financial Instruments on a fair and non-misleading basis. Therefore you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration all the following disclosed below.

3.Statement

1. Trading is very speculative and risky. Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. Trading in CFDs is highly speculative and therefore is suitable only for those Clients who (a) understand and are willing to assume the economic, legal and other risks involved, (b) are financially able to assume the risk of losses up to their invested capital and (c) understand and are knowledgeable about CFDs and the underlying assets. The Client represents, warrants and agrees that he/she understands these risks, is willing and able, financially and otherwise, to assume the risks of trading in CFDs. Before deciding to trade, a client should ensure that he understands the risks involved and take into account his level of experience, and if necessary seek independent advice. The Client is responsible for all the losses suffered in his account. Consequently, the Client should be prepared to lose all the invested capital.

2. Risks Associated with Transactions in CFDs When trading in CFDs you need to take into account the following main risks:

• CFDs are leveraged products; therefore, they carry a higher level of risk to your capital compared to other financial products and may result in the loss of all of your invested capital. However, it should be noted that the Company operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.

• The value of CFDs may increase or decrease depending on market conditions, and the potential for profit should be balanced alongside the significant losses that may be generated over a very short period of time when trading CFDs. 


• CFD trading, unlike traditional trading, enables you to trade the markets by paying only a small fraction of the total trade value. However, this entails that a relatively small market movement may lead to a proportionately much larger movement in the value of your position.  The Company offers flexible leverage starting from 1:1 to 1:300.

• The Client needs to make sure that he has sufficient margin in his trading account, at all times, in order to maintain an open position. In addition, the Client needs to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Company is not responsible for notifying you for any such instances.

3. Conflicts of Interests. The Company is the counterparty to all transactions entered into under the Client Agreement and, as such, the Company’s interests may be in conflict with the Client’s. The Conflicts of Interest Policy is available at the Company’s website.

4. Prices are set by the Company and may be different from prices reported elsewhere. The Company will provide the prices to be used in trading and valuation of the Client’s positions in accordance with its Trading Policies and Procedures. As such, they may not directly correspond to real time market levels at the point in time at which the sale of options occurs.

5. Rights to Underlying Assets. The Client have no rights or obligations in respect of the underlying instruments or assets relating to the CFDs.

6. Telephone Orders and Immediate Execution. Market orders executed over the telephone through the Company’s Dealing Room are completed when the Company’s telephone operator says “deal” or “done” following the Client’s placing of an order. Upon such confirmation of the telephone operator, the Client has bought or sold and cannot cancel the order. By placing orders through the Company’s Dealing Room, the Client agrees to such immediate execution and accepts the risk of this immediate execution feature.

7. The Company is not an adviser or a fiduciary to customer. Where the Company provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and do not consider any of the Client’s personal circumstances or investment objectives, nor is it an offer to trade, or the solicitation of an offer to trade, in any CFD. Each decision taken by the Client to trade in CFDs with the Company and each decision as to whether a transaction is appropriate or proper for the Client is an independent decision made by the Client. The Company is not acting as an advisor or serving as a fiduciary to the Client. The Client agrees that the Company has no fiduciary duty to the Client and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with the Client following the Company’s generic trading recommendations or taking or not taking any action based upon any generic recommendation or information provided by the Company.

8. Recommendations are not guaranteed. The generic market recommendations provided by the Company are based solely on the judgment of its personnel and should be considered as such. The Client acknowledges that it enters into any transactions relying on his/her own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions or intentions of the Company and/or its affiliates. The generic market recommendations of the Company are based upon information believed to be reliable, but the Company cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will reduce or eliminate the risk inherent in trading CFDs.

9. No guarantees of profit. There are no guarantees of profit nor of avoiding losses when trading in CFDs. The Client has received no such guarantees from the Company or from any of its representatives. The Client is aware of the risks inherent in trading CFDs and is financially able to bear such risks and withstand any losses incurred.


10. Risks

a. Technical Risks

 • Internet Trading. When the Client trades online (via the internet), the Company shall not be liable for any claims, losses, damages, costs or expenses, caused, directly or indirectly, by any malfunction or failure of any transmission, communication system, computer facility or trading software, whether belonging to the Company, the Client, any exchange or any settlement or clearing system.

 • Telephone Orders. The Company is not responsible for disruption, failure or malfunction of telephone facilities and does not guarantee its telephone availability. For the avoidance of doubt, the Client is aware that the Company may not be reachable by telephone at all times and thus the Client can place his orders through online access to the Company’s Trading Platform.

b. Market Conditions. The Client acknowledges that under Abnormal Market Conditions the Company may be unable to execute the Client’s instructions and therefore the period during which the Instructions and Requests are executed may be extended.

c. Communication. 

 • The Company bears no responsibility for any loss that arises as a result of delayed or unreceived communication sent to the Client by the Company. 

 • The Company bears no responsibility for any loss that arises as a result of encrypted information sent to the Client by the Company, that has been accessed via unauthorised means.

 • The Company bears no responsibility for any unreceived or unread internal messages sent to the Client through the trading platform(s); in case a message is not received or read within 3 (three) calendar days, the message gets automatically deleted. 

 • The Client is solely responsible for the privacy of any information contained within the communication received by the Company.

 • The Company has no responsibility regarding any loss as a result of authorized/unauthorised access to all information between the Company and the Client by third persons. 

d. Force Majeure Event. In case of a Force Majeure Event the Client shall accept the risk of any loss arising.

e. Taxes. The Client shall make sure that investing in CFDs is not subject to tax and/or any other duty in the Client’s jurisdiction. The Client is responsible for any taxes and/or any other duty which may accrue in respect of his trades.

11. Costs, Swap Value and Other Considerations. Prior to investing in CFDs the Client needs to be aware of any costs involved, such as spread(s), commission(s) and swap(s). For the purposes of this Statement, a swap means the interest added or deducted for holding a position open overnight. The swap for a position opened on Wednesday and held open overnight is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once.

12. Expiry System Errors. In case the expiry system fails for any reason, it will auto detect un-expired options and expire them in accordance to the rates stored historically in the archive. If any position did not expire on time, the system will issue a notification to Risk Manager and Compliance Officer, detailing all position information, in order to be resolved manually.

I / WE HAVE READ, UNDERSTOOD AND AGREE TO THE RISK DISCLOSURE STATEMENT AND THE TRADING POLICIES AND PROCEDURES SET OUT ABOVE.