Important Information

No offer or solicitation to buy or sell securities or securities derivative products of any kind, or any type of trading or investment advice, recommendation or strategy, is made, given or in any manner endorsed by TradeStation Securities, Inc., IBFX, Inc. or any of their affiliates. Past performance, whether actual or indicated by simulated historical tests of strategies, is no guarantee of future performance or success. "Direct Access" means, with respect to stock trades, the routing of user-input trade orders through the TradeStation servers to electronic markets, such as ECNs and SuperSoes and SuperDOT. With respect to futures trades, it means the routing through servers to an electronic exchange or to an electronic system that transmits the order directly to the floor of the exchange. Active trading is generally not appropriate for someone of limited resources, limited investment or trading experience, or low-risk tolerance, or who is not willing to risk at least $50,000 of capital.

TradeStation Securities is subject to the Archipelago ECN, Instinet ECN, Island ECN, BRUT ECN, and NASDAQ "Clearly Erroneous Policies," as well as any clearly erroneous policies which may be established in the future by an ECN to which orders are routed. A clearly erroneous trade occurs when someone has entered an order with an obvious error in any term, such as the security identification, the price, or the number of shares. Any market center that has a Clearly Erroneous policy may review a transaction to determine if the trade was clearly erroneous and may reverse or "break" such a trade in its sole discretion. You acknowledge that if you have benefited from an erroneous transaction by entering an order through the TradeStation trading platform, TradeStation Securities, under the terms of the market centers' policies, may be forced to break the trade. This could have the effect of placing you in the position you were before the transaction. You also acknowledge that if you have been adversely affected by an erroneous transaction, TradeStation Securities may not be able to break the trade, and is under no obligation to break the trade, as you have expressly assumed all risks relating to all orders entered by you through the TradeStation platform, including clearly erroneous trades.

All proprietary technology in TradeStation is owned by TradeStation Technologies, Inc., an affiliate of TradeStation Securities, Inc. a registered broker-dealer and futures commission merchant and IBFX, Inc. a retail foreign exchange dealer. The order execution services accessible from within TradeStation's registered affiliates are provided pursuant to technology licenses from TradeStation Technologies, Inc.