Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest.

What it means for you

Under Financial Services Authority (FSA) rules you are classed as a retail customer and, because of that, you get greater protection than other 'more qualified' clients.

Before deciding whether to trade, you need to be aware of the following:

General risk warning

• Past performance of an investment is no guide to its performance in the future.
• Investments, or income from them, can go down as well as up.
• Risk can be brought about by the performance of world markets, interest rates, taxes on income and capital, and foreign exchange rates.
• You may not necessarily get back any of the amount you invested.
• Smaller company shares can be relatively illiquid, meaning they could be harder to trade, which makes them higher risk.
• Content and information about potential investments are designed for general use, and so cannot be considered personal to your circumstances or your financial position.
• This site does not offer advice.
• If you are unsure about any investment or financial decision, you should seek expert independent advice.
• This site and its services are only directed at persons in the UK.

Warrants

• A warrant is a time-limited right to subscribe for shares, debentures, loan stock or government securities.
• Warrants often involve a high degree of gearing - where you only pay upfront a small amount of your potential losses. This means a small price change in the stock results in a large movement up or down in the price of the warrant.
• The prices of warrants can therefore be volatile.
• If the investor fails to exercise the warrant within the predetermined timescale then the warrant becomes worthless.
• You should consider carefully whether warrants are suitable for you in the light of your circumstances and financial position.
• You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other charges.
• Some other instruments are also called warrants but are actually options such as a right to acquire securities exercisable against someone other than the original issuer of the securities (called a 'covered warrant').

Full Risk Warning

1. The market information relating to the past performance of an investment is not necessarily a guide to its performance in the future. The value of investments or income from them may go down as well as up. As stocks and shares are valued from second to second, their bid and offer value fluctuates sometimes widely. The degree of fluctuation of fund values varies significantly and the value of higher volatility funds may change suddenly. The value of investments may rise or fall due to the volatility of world markets, interest rates and capital values or, for investments held in overseas markets, changes in the rate of exchange in the currency in which the investments are denominated. You may not necessarily get back the amount you invested.
2. Taxes may affect the net value of your investments and income received from them. Levels and bases of, and reliefs from, taxation are subject to change as UK legislation and regulations and the UK tax regime are amended from time to time. Any content on this site referring to such legislation, regulations or tax regime should not be relied upon.
3. All content provided through this site is only for your personal information and use, and is not intended to address your particular requirements or to be relied upon in making (or refraining from making) any specific investment or other decision. Such content shall not constitute any form of advice or recommendation by us.
4. Where you are unsure about any specific investment or other decision, you should obtain appropriate expert independent advice.
5. Unless otherwise stated, this site is directed only at, and the services provided through this site are only available to, persons in the United Kingdom. Persons outside the United Kingdom should not use or rely upon any content or services provided through this site.
6. Nothing included in this site constitutes an offer or solicitation to sell investments to anyone in any jurisdiction outside the United Kingdom in which such offer, solicitation or distribution would be unlawful.

Warrants

1. A warrant is a time-limited right to subscribe for shares, debentures, loan stock or government securities and is exercisable against the original issuer of the underlying securities. Warrants often involve a high degree of gearing, so that a relatively small movement in the price of the underlying security results in a disproportionately large movement, unfavourable or favourable, in the price of the warrant. The prices of warrants can therefore be volatile.
2. It is essential for anyone who is considering purchasing warrants to understand that the right to subscribe which a warrant confers is invariably limited in time with the consequence that if the investor fails to exercise this right within the predetermined time scale then the investment becomes worthless.
3. You should consider carefully whether warrants are suitable for you in the light of your circumstances and financial position.
4. You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other charges.
5. Some other instruments are also called warrants but are actually options (for example, a right to acquire securities which is exercisable against someone other than the original issuer of the securities, often called a 'covered warrant').

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