Use of Self-Directed Trading Accounts

All Customer Accounts are self-directed. Accordingly, unless Auto Investment Broker clearly identifies a communication as an individualized recommendation, Customers are solely responsible for any and all orders placed in their Accounts and understand that all orders entered by them are based on their own investment decisions or the investment decisions of their duly authorized representative or agent.

Consequently, any Customer of Auto Investment Broker agrees that, unless otherwise agreed to in writing, neither Auto Investment Broker nor any of its employees, agents, principals or representatives:

• provide investment advice in connection with a Customer Account;
• recommend any security, transaction or order;
• solicit orders;
• act as a market maker in any security;
• make discretionary trades; and
• produce or provide research. To the extent research materials or similar information is available through autoinvestmentbroker.com or the websites of any of its affiliates, these materials are intended for informational and educational purposes only and they do not constitute a recommendation to enter into any securities transactions or to engage in any investment strategies.

General Risks of Trading and Investing

All securities trading, whether in stocks, exchange-traded funds ("ETFs"), options, closed-end funds ("CEFs") or other investment vehicles, is speculative in nature and involves substantial risk of loss. Auto Investment Broker encourages its Customers to invest carefully and to use the information available at the websites of the SEC at http://www.sec.gov and FINRA at http://FINRA.org.

1. You may lose money trading and investing.

Trading and investing in securities is always risky. For that reason, Customers should trade or invest only with money they can afford to lose. Trading stocks, ETFs and stock options involves HIGH RISK, and YOU can LOSE a lot of money. Margin trading involves interest charges and additional risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market.

2. Past performance is not necessarily indicative of future results.

All investments carry risk, and all trading decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or trading signals will result in profits or that they will not result in losses. All Customers are advised to fully understand all risks associated with any kind of trading or investing they choose to do.

3. Auto Investment Broker is an online brokerage website and affiliated with other non-brokerage informational and other similar types of websites.

Neither Auto Investment Broker nor its affiliates provide investment advice. All Auto Investment Broker brokerage accounts are self-directed, and unless Auto Investment Broker clearly identifies a communication as an individualized recommendation, all investment decisions are self-directed, the sole responsibility of the Customer, and made at the Customer's own risk.

4. Stop orders may reduce, but not eliminate, your trading risk.

A stop market order is an order, placed with your broker, to buy or sell a particular stock at the market price if and when the price reaches a specified level. There can be no guarantee, however, that it will be possible under all market conditions to execute the order at the price specified. In an active, volatile market, the market price may be declining (or rising) so rapidly that there is no opportunity to liquidate your position at the stop price you have designated.

Risks of Investing in Stocks, ETFs, and CEFs

Investments always entail some degree of risk. Be aware that:

• Some investments in stock cannot easily be sold or converted to cash. Check to see if there is any penalty or charge if you must sell an investment quickly.
• Stock investments are not federally insured against a loss in market value.
• There is a risk when buying shares of stock that the value of the stock can fall to zero. Short selling involves substantial risk and assumes the seller will be able to buy the stock at a more favorable price than the price at which they sold short.
• ETFs are subject to risks similar to those of other diversified portfolios. Leveraged and Inverse ETFs may not be suitable for all investors and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies.
• CEFs involve unique risks. Unlike ETFs, CEFs trade on exchanges at market prices that may be higher ("premium") or lower ("discount") than their net asset value ("NAV"). Many CEFs employ structural or portfolio leverage, which magnifies both gains and losses.