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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PRODUCT DISCLOSURE STATEMENT

Margin FX and Contract for Difference

Switch Markets PTY LTD

CORPORATE AUTHORIZED REPRESENTATIVE

Suite 126, 117 Old Pittwater road,
Brookvale,
NSW 2100, Australia

Prepared on 24 December 2020

Switch Markets PTY LTD is an authorized representative of and issues products on behalf of the Authorizer, ROYAL ETP LLC. ROYAL ETP LLC will be the counterparty to all trades and your funds will be held in ROYAL's segregated client trust account.

Section 1. - Important Information

1.1 This PDS

This Product Disclosure Statement (PDS) is dated 24 December 2020 and was prepared on that date by Switch Markets PTY LTD ('Switch'). Switch is the authorized representative of Royal ETP LLC (149 LLC 2019) ('Authorizer'). Switch issues the over-the-counter contracts ('Contracts') referred to in this PDS on behalf of the Authorizer. Switch makes a market and enters into Contracts on behalf of the Authorizer with you. The Authorizer will be the counterparty to all trades. Your funds will be held in the Authorizer's segregated client trust account.

This PDS is designed to help you decide whether the contracts described in this PDS are appropriate for you. You may also use this PDS to compare this financial product with similar financial products offered by other issuers.

This PDS describes the key features of our Contracts, their benefits, risks, the costs and fees of trading in them and other related information. The Contracts are sophisticated financial products, so you should read this PDS and the Account Terms in full before making any decision to invest in them. We encourage you to seek independent financial advice prior to placing any trades. Switch does not provide personal advice.

The expressions used in this PDS have definitions given in the Glossary at the end of this PDS (see Section 7), or have a meaning given by law and regulation.

1.2 OTC Contracts

This PDS covers OTC contracts in respect of:

  • shares (referred to as Share Contracts);
  • indices (referred to as Index Contracts);
  • commodities (referred to as Commodity Contracts);
  • Foreign Exchange (referred to as FX Contracts);
  • Bullion (referred to as Bullion Contracts); together, referred to as the 'Contracts'.

The Contracts covered by this PDS are those traded on Switch's Electronic Trading Platform (see section 3.7 for more). These Contracts are derivative products issued by Switch on behalf of the Authorizer and are not exchange-traded products.

1.3 Your Potential Liability

Please especially read the Key Information in Section 2 and the Significant Risks in Section 4 for important information about your potential liability. We recommend that you contact us if you have any questions arising from this PDS or the Account Terms prior to entering into any transactions with us. Switch recommends that you consult your advisor or obtain independent advice before trading.

1.4 Switch does not give Personal Advice

Switch will not give you personal financial advice. This PDS does not constitute a recommendation or opinion that the Contracts are appropriate for you, your financial situation, needs or objectives. Switch encourages all clients to seek independent financial advice as appropriate.

1.5 Your Suitability to Trade the Contracts

If we ask you for your personal information to assess your suitability to trade the Contracts and we accept your application to trade these contracts, this is not personal advice or any other advice to you. You must not rely on our assessment of your suitability since it is based on the information you provide, and the assessment is only for our purposes of deciding whether to open an Account for you. You may not later claim you are not responsible for your losses merely because we have opened an Account for you after assessing your suitability. You remain solely responsible for your own assessments of the features and risks and seeking your own advice on whether the Contracts are suitable for you.

We will assess wholesale client or retail client status from time to time. If you satisfy the criteria to be classified as a wholesale client, we may classify you as such. We are under no obligation to inform you if we classify you as a wholesale client.

1.6 Currency of PDS

The information in this PDS is up to date at the time it was prepared but is subject to change at any time. Any updates will be posted on our website. A copy of this PDS and the Account Terms can be downloaded from the website or you can call Switch to request that a paper copy be provided to you free of charge. If the new information is information which is materially adverse to you, we will issue either a new PDS or a supplementary PDS containing the new information. If the new information is not materially adverse to you, you will be able to find updated information on our website or by calling us using the contact details given below. If you ask us, we will send you without charge a paper copy of the information.

1.7 Contact

Switch can be contacted at
Suite 126, 117 Old Pittwater road, Brookvale, NSW 2100, Australia

The Authorizer can be contacted at:
Halifax Street, Kingstown,
St Vincent and the Grenadines
Telephone: +61 2 8284 5100
or by emailing them at support@switchmarkets.com