Last Updated: [September 2025]

Trading leveraged spot metals—including gold (XAU), silver (XAG), platinum (XPT), and palladium (XPD)—involves a high level of risk and may not be suitable for all investors. Before opening an account with PanFx or entering any transaction, you should carefully evaluate whether trading is appropriate for your financial situation, experience level, and risk tolerance.

Leveraged trading magnifies both gains and losses. Due to the use of leverage, in extremely rare circumstances it is possible to lose more than your initial deposit, and you may be required to deposit additional funds on short notice to maintain open positions. Failure to meet margin requirements may result in immediate liquidation of positions at a loss.

Precious metals markets can experience significant volatility due to global economic conditions, geopolitical events, interest-rate changes, central-bank actions, and fluctuations in industrial demand. These movements can cause rapid changes in price and may result in substantial losses, including in fast-moving markets where execution prices may vary from expected levels.

Past performance of metals markets or trading strategies does not guarantee future results. There is no assurance that any trading strategy, signal, research report, or market information provided by PanFx will result in profit or be free from error.

Under certain market conditions—including high volatility, market closures, reduced banking hours, or disruptions to liquidity providers—spreads may widen, execution may be delayed, and orders may be partially filled or rejected. This can materially increase trading costs and risk.

Trading with leverage can amplify risk. Even small price movements against your position may result in large losses. PanFx reserves the right to adjust leverage ratios, margin requirements, or product availability at any time based on market conditions or internal risk controls.

Spot metal transactions executed through PanFx involve reliance on external liquidity partners, pricing engines, execution technology, and digital infrastructure. System failures, delays, outages, latency, cybersecurity events, force majeure, or third-party failures may result in losses or execution errors.

Spot metal trading rules vary by jurisdiction. PanFx products may not be available in certain countries, and regulatory changes may affect your access to the platform or the trading conditions offered. You are solely responsible for understanding the legal and tax implications of trading in your region.

You acknowledge that you:
• Understand the risks associated with leveraged trading
• Can financially withstand the loss of your entire investment
• Will monitor your positions and maintain adequate margin
• Are solely responsible for your trading decisions, regardless of guidance, tools, or information provided by PanFx

PanFx does not act as a financial adviser or fiduciary. All decisions to trade are your own. Any data, analysis, forecasts, or educational materials provided are general market commentary only and do not constitute personalized investment advice.

By trading with PanFx, you acknowledge that you have read, understood, and accept all risks associated with leveraged spot metals trading.