18.4. The Company neither takes responsibility for any loss, nor does it advise the Clients with regards trading. The Company and the Client are counterparties and therefore, do not have the same interest in an outcome of a given trade. You must trade in your sole discretion and based on your personal knowledge. Moreover, We act as the contractual counterparty to your Transactions, and not as your agent or broker. As such, you understand and acknowledge that an inherent conflict of interest exists between you and us in this regard, and you should assume that we have an economic incentive to be a counterparty to any Transaction with you.

Counterparty risk. As we are the counterparty to every transaction, the Client will have an exposure to us in relation to each transaction. The settlement of a transaction will be reliant on our ability to meet our counterparty obligations to you to settle the relevant contract.