System Trading Commission

I am aware of the speculative nature and high risks associated with Forex trading. I have
provided the ideas, techniques and trading parameters used in My Program or, if it is a third-
party developed system or trade recommendation service or hotline, I understand its trading
parameters. I have had the opportunity to ask questions on how my account will be handled.
I acknowledge that I have not purchased My Program from FXCM although it may have
acted as my agent in the purchase or lease of My Program. I understand that there is no trading system or recommendation service that is free from the risk of loss. FXCM does not
imply or guarantee that I will make a profit and I agree that neither FXCM nor any of its officers, directors, employees, consultants, agents or affiliates will be held responsible for the performance of My Program or trading losses in my account.

I understand that using My Program to generate trading signals exposes me to risks
associated with the use of computers and data feed systems relied on by FXCM. I agree to
accept such risks, which may include, but are not limited to, failure of hardware, software or
communication lines or systems and/or inaccurate external data feeds provided by third-
party vendors and further agree to hold FXCM harmless from any losses in my account
associated with these risks. Absent willful or wanton misconduct, neither FXCM nor any of
its officers, directors, vendors, employees, agents, associated persons or FXCM personnel
will be liable for any such breakdown or failure.

FXCM may act upon the authority given by this letter of direction until I revoke the
authority by written notice addressed and actually delivered to FXCM. I shall be responsible
for any open lots in my account at the time that I revoke the authority and I shall permit FXCM to execute offsetting orders for such lots.

In lieu of sending trade confirmation via postal mail, FXCM will provide me with access to
view my account at any time using the Internet with an online login. FXCM shall make
statements available to me showing the ledger balance, the exact positions in the account,
the net profit or loss in all contracts closed since the date of the last statement, and the net
unrealized profit and loss in all open contracts figured to the market. I will carefully review these statements. If I have any questions, I will contact FXCM immediately.

I agree that, in the absence of willful or wanton misconduct, neither FXCM nor any of its
officers, directors, employees, consultants, agents or affiliates will be held liable for any act
or omission in the course of or in connection with my participation in My Program. I shall indemnify FXCM, its principals, officers, directors, employees, agents, successor and/or assigns from all losses and/or liability (including reasonable attorney’s and/or accountant’s fees) incurred or resulting from this Letter of Direction and Limited Power of Attorney to execute My Program, provided that there has been no judicial determination that such liability was the result of gross negligence or recklessness or intentional misconduct by FXCM, and further provided that the conduct that was the basis for such liability was not undertaken in the actual and reasonable belief that it was in the best interest of my account.