Day trading can be extremely risky.

As required by current SEC and SRO rules and regulations, ViewTrade must classify an account that effects three (3) day trades within a five (5) day period as a Pattern Day Trader account. A “day trade” is defined as a buy and sell of the same security on the same day. The regulations prohibit ViewTrade from permitting a Pattern Day Trader account from effecting any transactions unless such account maintains a Minimum Equity Requirement of at least $25,000.

You should consider the following points before engaging in a day-trading strategy, which means an overall trading strategy characterized by the regular transmission of intra-day orders to effect both purchase and sale transactions in the same security or securities. Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for day trading. In particular, you should not fund day-trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses. Further, certain evidence indicates that an investment of less than $50,000 will significantly impair the ability of a day trader to make a profit and likewise, an investment of $50,000 or more will in no way guarantee success.

As a client potentially involved in day trading, you should be cognizant of the following:

• You should be wary of advertisements or other statements that emphasize the potential for large profits in day trading. Day trading can also lead to large and immediate financial losses.
• Day trading requires in-depth knowledge of the securities markets and trading techniques and strategies. In attempting to profit through day trading, you must compete with professional, licensed traders employed by securities firms. You should have appropriate experience before engaging in day trading.
• You should be familiar with a securities firm's business practices, including the operation of the firm's order execution systems and procedures. Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a stock suddenly drops, or if trading is halted due to recent news events or unusual trading activity. The more volatile a stock is, the greater the likelihood that problems may be encountered in executing a transaction. In addition to normal market risks, you may experience losses due to systems failures.
• Day trading will generate substantial commissions, even if the per trade cost is low. Day trading involves aggressive trading, and generally you will pay commission on each trade. The total daily commissions that you pay on your trades will add to your losses or significantly reduce your earnings. For instance, assuming that a trade costs $7 and an average of 45 transactions are conducted per day, an investor would need to generate an annual profit of $84,105 just to cover commission expenses.
• Day trading on margin or short selling may result in losses beyond your initial investment. When you day trade with funds borrowed from a firm or someone else, you can lose more than the funds you originally placed at risk. A decline in the value of the securities that are purchased may require you to provide additional funds to the firm to avoid the forced sale of those securities or other securities in your account. Short selling as part of your day-trading strategy also may lead to extraordinary losses, because you may have to purchase a stock at a very high price in order to cover a short position.

The ViewTrade website and software platforms present information and pricing data to individuals and organizations that is thought to be reliable and accurate. Such information must be interpreted by you to be meaningful. By your use, you acknowledge that the research information provided herein is proprietary.

ViewTrade is responsible for following client instructions for securities transactions in a timely manner. However, system access and trade execution times may vary due to a variety of factors, including trading volumes, market conditions, order imbalances, software/hardware problems, system capacity limitations, and other factors beyond our control. Therefore, you acknowledge and agree that the disseminating parties, including ViewTrade, do not guarantee the timeliness, sequence, and accuracy of the market data or any other information available through this service.

Additionally, you agree that ViewTrade, Inc. shall not be liable for any inaccuracy, omission, error or delay or interruption in transmission due to any negligent act or omission by any disseminating party, including ViewTrade due to any “force majeure”, including power, equipment or software failure or malfunction.

Before trading stocks in a margin account, you should carefully review the margin agreement provided by ViewTrade. When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from your brokerage firm. If you choose to borrow funds from your firm, you will open a margin account with the firm. The securities purchased are the firm's collateral for the loan to you. If the securities in your account decline in value, so does the value of the collateral supporting your loan, and as a result, the firm can take action, such as issue a margin call and/or sell securities in your account, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:

• You can lose more funds than you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities in your account.
• The firm can force the sale of securities in your account. If the equity in your account falls below the maintenance margin requirements under the law, or the firm's higher "house" requirements, the firm can sell the securities in your account to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale.
• The firm can sell your securities without contacting you. Some investors mistakenly believe that a firm must contact them for a margin call to be valid, and that the firm cannot liquidate securities in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin call, the firm can still take necessary steps to protect its financial interest, including immediately selling the securities without notice to the customer.
• You are not entitled to choose which security in your margin account is liquidated or sold to meet a margin call. Because the securities are collateral for the margin loan, the firm has the right to decide which security to sell in order to protect its interests.
• The firm can increase its “house” maintenance margin requirement at any time and is not required to provide you advance written notice. These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the member to liquidate or sell securities in your account.
• You are not entitled to an extension of time on a margin call. While an extension of time to meet margin requirements may be available to customers under certain conditions, a customer does not have a right to the extension.
• The IRS requires Broker Dealers to treat dividend payments on loaned securities positions as in-lieu dividends for 1099 tax reporting purposes. Taxation of substitute dividend payments may be greater than ordinary on qualified dividends.

Call or write the following: Compliance Department, ViewTrade Securities, Inc., (ViewTrade), 7280 West Palmetto Park Rd., Suite 105, Boca Raton, FL 33433. Phone 561 620 0306, Fax 561 620 0301.