Trading Disclaimer


All investment instruments involve risk and are not suitable for all investors. Before you begin investing or trading, understand that investors or traders may lose the entire amount of their investment in a relatively short period of time depending on the financial instrument and risks involved.

Royce Equity Management provides self-directed investors with services and only provides Stock Picks to facilitate the independent investor with information access to make their own investment decisions. Recommendations or other investment advice is provided for informational purposes only and does not constitute a recommendation to enter into any securities transaction or to engage in any of the investment strategies presented by Royce and only represent opinions of research analysts connected with Royce. Trading has inherent risks due to system response and access times that vary due to market conditions, system performance and other factors. An investor should understand these and additional risks before trading or investing.

Safety of Client Funds

Assuring client fund safety is one of the single most important factors in the financial industry. Royce Equity Management maintains an insurance policy from a major provider covering all customer funds. Furthermore, Royce has years of experience managing risk, a strong balance sheet, and offers additional legal and structural guarantees:

Client funds held with Royce are maintained in separate customer accounts and may never be utilized for operating expenses or for other purposes or commingled with Royce operating capital.

Funds are withdrawn from these bank accounts only as a direct result of clients' trading activities or clients' request for withdrawal. In the unlikely event of Royce bankruptcy, client funds are legally protected and returned directly to the customer.

Furthermore, Royce maintains a balance sheet with Net Capital in excess of most minimum regulatory requirements



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