The above comments are excerpted from actual client letters. However, these comments are not intended to give the impression that they are typical of client correspondence received by Capital Asset. Clients should note the following: Trading physical commodities is highly speculative and very risky; the vast majority of investors have lost money trading commodities. Capital Asset and its introducing brokers and affiliates are not regulated by a United Kingdom regulator such as the Financial Services Authority. Customers will have no recourse to UK statutory complaints procedures and compensation schemes. Past performance is not necessarily indicative of future results. If the particular market in which you invest does not move in your favor, you could lose all or part of your deposit. Clients have a negligible chance of making an overall profit if they always reinvest the proceeds of transactions in new transactions. Therefore, they should always consider withdrawing a substantial percentage of any profitable transaction so as to limit their overall exposure to the markets. Please read disclosure materials carefully before you send money or initiate your first trade.