Your orders will be executed by a Third Party Broker DriveWealth LLC. As part of the on-boarding process with Revolut App you will also be opening a trading account with DriveWealth LLC.

This notice is provided by Revolut Trading Ltd (“we” or “Revolut”) and provides you with important information about the risks associated with the services we provide to you. Unless otherwise defined here, capitalised terms have the same meaning as in the agreement detailing how we will provide our dealing services to you.

Revolut provides clients with the ability to buy and sell various Instruments made available via the Revolut App. Before using your Revolut App to submit Orders in relation to Instruments, you should consider whether you have understood the risks detailed in this notice. If you have any questions or are in any doubt about the content of this notice, you should seek appropriate professional advice.

Trading financial instruments involves an element of risk. The value of your investment may fall as well as rise and you may get back less than your initial investment, and in some cases you may lose your entire initial investment. Past performance of an Instrument is not an indication of its future performance.

No Advice

We provide an “execution only” service, meaning that we will not offer you any advice or provide you with any recommendations regarding the suitability of any particular Instrument. Whilst we may from time to time provide you with factual information about Instruments, this information is not, and should not be interpreted as, advice, and any decision to submit Orders is made solely by you.

Insolvency Risk

Where your Instrument is a share in a company, you own a portion of the issuing company’s share capital, with your ownership interest determined by the number of shares you own as a percentage of the total issued share capital of that company. You should be aware that the insolvency of a company may drastically reduce the value of its shares, potentially risking the loss of your entire investment. Under English law, ordinary shareholders rank lowest in the order of priority in the event of an insolvency, meaning the company may have exhausted the value of its available assets in paying other creditors by that time it comes to paying its shareholders, increasing the risk that shareholders will not receive any money from the company for their shares.

In the event of an insolvency of the Third Party Broker or any other brokers involved in executing your Orders, this may result in your Positions being liquidated without your consent. In such circumstances, we will seek to provide you with additional information as to the treatment of your existing Positions as and when we obtain it.

Currency Risk

Where your Instrument is denominated in currencies other than your base currency, fluctuations in foreign exchange rates may impact your profits and losses connected to you trading in or holding such Instruments.

The currency in which the Order is executed is determined by the currency in which the Instrument is traded. In order to execute an Order you may need to convert the currency in your primary Revolut Account to the relevant currency, therefore a foreign exchange fee may apply.

Volatility Risk, Market Fluctuations and Monitoring your Positions

We do not provide, nor can we control, the prices for the Instruments you may buy or sell via the Revolut App. The market price of Instruments is influenced by a broad array of factors and can change rapidly and unexpectedly, meaning the value of those Instruments, and your related profits and losses on your Positions, can also change rapidly and unexpectedly. Amongst other things, prices of Instruments can be subject to gapping (where the price of the Instrument opens significantly above or below the previous day’s closing price) and slippage (where the price an Instrument is executed at is different to the price to that which was quoted at the time the Order was submitted), especially in periods of market volatility.

You have the sole responsibility of monitoring the value of your Positions you hold and you should ensure that you can access the Revolut App on an ongoing basis so as to do this.

Liquidity Risk

The Instrument made available via the Revolut App are all admitted to trading on an underlying market, and in the event that you wish to sell your Instruments, a corresponding buyer of those Instruments must be found in the underlying market. Whilst certain Instruments can be very liquid, you should be aware that others, such as the shares of smaller companies or of companies located in other geographies or territories, can be less liquid and it is not guaranteed that there will be a buyer for your Instruments. In some circumstances, such as instances of market volatility or where trading in a particular Instrument or on a particular underlying market has been suspended or otherwise restricted, it may not be possible to find a buyer for your Instruments, meaning you will not be able to liquidate your Positions.

Technical Risks

Whilst we will try to make the Revolut App available to you without interruption, we cannot guarantee that the Revolut App will always be available to you. In these circumstances, your Orders may not be able to be submitted and you may not be able to monitor your Positions via the Revolut App.

Tax

You should be aware that various tax regimes may apply to your trading in Instruments depending on your personal tax status and the rules and regulations in force from time to time. You have the sole responsibility of determining the relevant tax impact to your trading and you should consult an appropriate professional advisor if you have any questions or doubts in this regard.

Financial Resources

You should ensure that you have appropriate financial resources to engage in the buying and selling of Instruments, and that you have the ability to bear any losses that may arise from your trading activity. You should not rely on being able to generate profits in order to pay down or relinquish any credit or financing you have arranged for the purposes of buying and selling Instruments.

No Guarantee of Rights

Whilst Instruments can often have rights to dividends and, in certain instances, the right to vote on certain matters at general meetings of the issuing company, you should not assume that you will be able to exercise these rights. The payment of dividends by a company is not guaranteed and you may not have the opportunity to exercise any voting rights attaching to those Instruments.

Legal and Regulatory Changes

Changes to current legislation and regulations could give rise to changes in the price of Instruments, which could impact your profits or losses. The impact of such legal and regulatory changes can be material and unexpected, and may impact certain companies, markets and jurisdictions more than others.