FINANCIAL SERVICES GUIDE

PRODUCT DISCLOSURE STATEMENT

You may also receive one or more Product Disclosure Statements prepared by us. We will give you a Product Disclosure Statement if we offer to issue the financial products on behalf of the Authorizer to you. Before deciding to invest in a financial product offered by us on behalf of the Authorizer, you should carefully read the Product Disclosure Statement. The Product Disclosure Statement contains important information about the financial products we are offering on behalf of the Authorizer, including the risks and costs associated with the financial products.

SWITCH ACCOUNT TERMS

You will also receive our Account Terms, which is a contract between us and you. These Terms will dictate the rights and conditions of each party and contains important information about transacting with us.

NATURE OF ADVICE

We only provide general advice. We do not provide personal advice (advice which takes into account your personal objectives, financial situation or needs). Therefore, before you decide to open an account with us, you are strongly recommended to seek your own professional advice. You must understand that trading in FX and derivatives is risky, you do not have any ownership over the underlying assets, and that you may lose substantially more than you invest.

HOW YOU CAN CONTACT US

We, Switch Markets International PTE LTD (UEN: 202040285G), are the providing entity of the services in this FSG. You can contact us by:
telephoning us +44 1902 943 383 between 9 am to 6 pm AEST Monday to Friday;

writing to us at Switch Markets International PTE LTD
1B TRENGGANU STREET
SINGAPORE; or

emailing us at support@switchmarkets.com

Our Authorizer is Royal ETP LLC. You can contact them by:
telephoning +61 2 8284 5100;

writing to Royal ETP LLC, Halifax Street, Kingstown,
St Vincent and the Grenadines; or emailing compliance@oneroyal.com.vc

HOW YOU CAN INSTRUCT US

You can instruct us in any of the following ways:

• By telephone; or
• Electronically through our internet trading platforms to which you will be granted access to. If requested by you, we may agree to accept instructions by email, at your own request.

THE FINANCIAL SERVICES WE ARE AUTHORISED TO PROVIDE TO YOU

Our financial services business involves providing general financial product advice, dealing in over-the-counter (OTC) financial products such as derivatives and market making services in relation to OTC derivatives (including but not limited to contracts for difference and margin foreign exchange contracts) that we issue on behalf of the Authorizer. The Authorizer acts as principal in all transactions Switch executes with you in respect of the financial products offered by us and is the counterparty to all trades. Your funds will be held in the Authorizer’s segregated client trust account.

We are authorised by Royal ETP LLC to provide the following financial services to retail clients and wholesale clients.

(a) provide general financial product advice for the following classes of financial products:
i. deposit and payment products limited to: A. basic deposit products; B. non-cash payment products; i. derivatives; ii. foreign exchange contracts; and securities; (b) deal in a financial product by: i. issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products: A. derivatives; and B. foreign exchange contracts; and ii: applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products: A. deposit and payment products limited to: 1. basic deposit products; 2. non-cash payment products; B. derivatives; C. foreign exchange contracts; and D. securities; and (c) make a market for the following financial products: i. foreign exchange contracts; and ii. derivatives; to retail and wholesale clients.

OUR RELATIONSHIP WITH YOU

Switch provides financial services and issues financial products on behalf of the Authorizer. The Authorizer is responsible for the financial services and products we provide. We are a market maker, not an agent when dealing in margin foreign exchange contracts and products. The Authorizer acts as principal in all transactions Switch executes with you in respect of the financial products offered by us on behalf of the Authorizer and is the counterparty to all trades.

ASSOCIATIONS AND RELATIONSHIPS

Switch does not have any associations or relationships that might reasonably be expected to be capable of influencing Switch in providing any of the authorized services.

REMUNERATION AND BENEFITS

You may pay Switch a fee depending on the type and level of services provided to you, the financial products you choose and the amount you invest. Switch may receive fees and other benefits from the financial products that it issues on behalf of the Authorizer to you. These may take the form of spread and/or commission payments. Unless otherwise stated, all fees, charges, commissions and benefits disclosed in this FSG are inclusive of goods and services tax (GST).

OTC Financial Product Fees

The fees, costs and charges for OTC financial products are disclosed in the product disclosure statement and Market Information Sheets for those products. General

If you owe an account to Switch and you have not paid that amount, Switch may charge interest on that outstanding amount at the rate set out in or on the basis described in the Account Terms or, if not specified or described, at the rate equal to Switch’s prevailing debit interest rate determined by it from time to time. Switch may charge a fee for printing and postage of confirmations if you have the ability to receive electronic confirmations but have chosen not to do so. We may also charge reasonable amounts for additional reports or communications required by you. These fees will be advised to you prior to you requesting this information.

Administration Fees

Additional fees may be charged for transactions and services, including but not limited to international transfers, bank cheques and additional account administration fees. Switch may charge fees for certain administrative services which occur in the course of your dealings with us.

Reductions & Waivers

Switch may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance or interest rates on debit balances, electronic trading platform charges, administration charges, SMS service fees, fees (including royalties or fees for third-party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions.

Third-Party Charges
The fees and charges payable by you to Switch may differ from the fees and charges payable by Switch to its third-party service providers from time to time.

SMS Service Fee
Should you request the delivery of correspondence regarding your account via the Short Message Service (”SMS”), you must pay an SMS Service Fee to Switch.

The SMS Service Fee will be due and payable to Switch upon delivery of a SMS and will be debited from your Account at the end of each month. The SMS service fee is US$0.55. This fee is charged per SMS and is inclusive of GST.

Introducing Broker Fees

If you have been introduced to Switch by an introducing broker or referrer, they are required to disclose to you, the remuneration and benefits paid to them. As we are unable to ascertain the exact remuneration at this time, you may request particulars of their remuneration (including commission) or other benefits paid to them within a reasonable time after you are given this FSG and before any of the financial services offered herein are provided to you.

Remuneration and Benefits of Authorizer

The Authorizer receives a ticket fee of up to USD$20 per mil in notional trades it hedges from Switch clients, paid by Switch.

The Authorizer may also receive a benefit where they have taken on the risk of your trade in the form of a B-book strategy and the trade moves in their favour.

DISCLOSURE OF CONFLICTS OF INTEREST

Trading with Switch and the Authorizer carries an automatic risk of conflicts of interest because the Authorizer is acting as principal in its positions with you; Switch, as authorised representative, sets the price of the contracts; and because the Authorizer might be transacting with other persons at different prices or rates. You can reduce the risks of unfavourable pricing or opaque pricing by monitoring Switch’s contract pricing and monitoring the underlying market.

REPRESENTATIVE AGENTS & INTRODUCING BROKERS

The fees and charges described in our PDS, and in this FSG, apply where you accept the financial services and products offered by Switch on behalf of the Authorizer. If you deal with Switch through an Introducing Broker, that Introducing Broker may have its own fees and charges.

EMPLOYEES AND REPRESENTATIVES

Our employees who provide you with advice or transaction services may receive remuneration for the provision of these services. Our employees receive salaries, performance-related bonuses and other benefits based on achievement of predetermined business objectives such as contribution to profit, client service, risk management and team contribution. Switch may also receive a share of the spread charged on the products by the Authorizer.

Please contact us within a reasonable time of receiving this FSG and before you use any of our services if you require any further particulars in relation to the remuneration and other benefits received by us or our employees.

DISPUTES HANDLING

We have an internal dispute resolution process in place so that we can resolve any disputes or complaints quickly and fairly. If you have any complaint about our services, you should take the following steps:

1. Contacting a representative of Switch on +44 1902 943 383 and outlining the details of your complaint. The complaint will then be forwarded to the Authorizer.
2. If your complaint is not satisfactorily resolved through your adviser, within three Business Days of receipt of your complaint, please contact the Authorizer’s Compliance Department on +44 1902 943 383 or put your complaint in writing and send it to the Compliance Department at: 1B Trengganu St, Singapore 058455 2100, PH: +44 1902 943 383 or emailing to support@switchmarkets.com.

Switch will try to resolve your complaint quickly and fairly. Complaints received in writing will be acknowledged as soon as possible with a written receipt of your complaint and we will use our best endeavours to try to resolve your complaint within 45 days of receipt of your written complaint.

PRIVACY

We value the privacy of your personal information. Our full privacy policy is available from our website at https://www.switchmarkets.com/privacy-policy. All information collected by Switch or the Authorizer and its representatives, in the application form or otherwise, is used for maintaining your Account and for the purpose of assessing whether you would be suitable as a Client.

Both Switch and the Authorizer have obligations under and has procedures in place. If you would like a copy of our privacy policy, or wish to seek access to, or correct the personal information we collect or disclose about you, please ask.