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TERMS AND CONDITIONS

This Web site is issued and approved by Henderson Rowe Limited ('HRL'); a firm authorised and regulated by the Financial Services Authority ('FSA'). For the purposes of these terms, 'HRL' shall mean Henderson Rowe Limited, their officers, directors and employees.

This Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

English law governs access to and use of this website. By accessing our website you acknowledge that you have read and understood the conditions of use and agree to abide by them and that you are qualified to access the site.

Any material contained in this Website has been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation, or means, and HRL is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument. Although this material is based upon information that HRL considers reliable and endeavors to keep current, HRL has not verified this information and does not represent that this material is accurate, current, or complete and it should not be relied upon as such.

The fact that HRL has made the data and services provided on this Web site available to you constitutes neither a recommendation that you should enter into a particular transaction nor a representation that any product described on this Web site is suitable or appropriate for you. Many of the products described on this Web site involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and has independently determined that such transactions are appropriate for you (see full risk warning notice below).

HRL shall have no liability, contingent or otherwise, to you or to third parties, or any responsibility whatsoever, for the failure of any connection or communication service to provide or maintain your access to this service, or for any interruption or disruption of such access or any erroneous communication between HRL and you, regardless of whether the connection or communication service is provided by HRL or a third party service provider. HRL shall have no liability, contingent or otherwise, to you or to third parties, for the correctness, quality, accuracy, timeliness, reliability, performance, continued availability, completeness or delays, omissions, or interruptions in the delivery of the data and services available on this Web site or for any other aspect of the performance of this service or for any failure or delay in the execution of any transactions through this service. HRL makes no warranty whatsoever to you, express or implied, regarding the security of the site.

This service may provide links to certain Internet sites sponsored and maintained by third parties. HRL makes no representations concerning the content of the Sites. The fact that HRL may provide a link to another Site does not constitute an endorsement, authorization, sponsorship, or affiliation by HRL with respect to the Site, its owners, or its providers. Your use of the products and services on this Web site may be monitored by HRL.

Risk Warning Notice:

It is HRL's policy that all CFD advisory clients should be provided with the following risk warning notice.

You should not deal in CFDs unless you understand their nature and the extent of your exposure to risk. You should also be satisfied that the product is suitable for you in the light of your circumstances and financial position. Although CFDs can be utilised for the management of investment risk, it may not be suitable for some investors. In deciding whether to trade in CFDs, you should be aware of the following points.

CFDs can only be settled in cash. Investing in a CFD carries the same risks as investing in a future or an option or other derivative product. Transactions in CFDs may also have a contingent liability and you should be aware of the implications of this as set out below.

Contingent liability investment transactions, which are margined, require you to make a series of payments against the purchase price, instead of paying the whole purchase price immediately.

If you trade in contracts for differences, you may sustain a total loss of the margin you deposit with your firm to establish or maintain a position. If the market moves against you, you may be called upon to pay substantial additional margin at short notice to maintain the position. If you fail to do so within the time required, your position may be liquidated at a loss and you will be responsible for the resulting deficit. Even if a transaction is not margined, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when you entered the contract.

Before you begin to trade, you should obtain details of all commissions and other charges for which you will be liable. If any charges are not expressed in money terms (but, for example, as a percentage of contract value), you should obtain a clear and written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms. In the case of futures, when commission is charged as a percentage, it will normally be as a percentage of the total contract value, and not simply as a percentage of your initial payment.