Swissquote Bank Ltd (“Swissquote”) is a bank licensed in Switzerland under the supervision of the Swiss Financial Market Supervisory Authority (FINMA). The support on which this advertisement is published (such as a newspaper or a magazine) might incidentally be distributed in the USA. Swissquote is not authorized as a bank or broker by any US authority (such as the CFTC or the SEC). The products and services presented in this advertisement are in particular not intended to US persons (such as US citizens, US residents or US entities organized or incorporated under the laws of the USA). This advertisement does not constitute an offer, a solicita- tion or an invitation to US Persons to purchase or sell any banking or financial products or use any banking or financial services. Swissquote does not open any account for US persons. The products and services presented in this advertisement are as a general rule authorized for sale in Switzerland only. They are not intended for any