Risk Disclosure

1 About this disclosure

1.1Words defined in the Terms of Use have the same meaning here. This disclosure explains the main risks of the products our Partner Brokers offer, of using their offshore entities, and of relying on Signals. It forms part of our Terms of Use.

1.2It does not describe every risk. Each Partner Broker has its own risk disclosure and terms. Please read them before you open an account, because they apply to your trading.

1.3We do not give advice. Nothing in this disclosure tells you whether a product, a broker or a trade is right for you.

Leveraged Product

a product, such as a forex or CFD position, that lets you take a position larger than the money you put up.

Margin

the money a broker requires you to put up to open and keep a leveraged position.

Negative Balance Protection

a broker's commitment that you cannot lose more than the money in your trading account.

2 Leveraged products

2.1Partner Brokers offer Leveraged Products, including forex and contracts for difference (CFDs) on metals, indices, shares, commodities and crypto-assets.

2.2Leverage magnifies losses as well as gains. With leverage of 1:100, for example, a price move of 1% against your position equals all of the Margin for that position.

2.3With a CFD you do not own the underlying asset. Your contract is with the broker entity, which may be on the other side of your trade. That creates a conflict of interest for the broker.

2.4Crypto-asset CFDs can be especially volatile. Some markets trade around the clock, and prices can move sharply while you are not watching.

2.5The leverage offered by offshore entities can be far higher than the limits that apply to retail clients of brokers in the EU. Higher leverage means faster and larger losses.

3 How losses happen, and how fast

3.1If the money in your trading account falls below the broker's Margin requirement, the broker can close your positions automatically (a stop-out). It does not need to ask you first, and it may close them at an unfavourable price.

3.2Prices can jump from one level to another without trading in between (a gap), for example over a weekend, at a market open or after news. An order can then be filled at a worse price than the level you set (slippage). A stop-loss order does not limit your loss to the level you set.

3.3Losses can build up in a very short time, faster than you can react.

3.4If a broker entity does not offer Negative Balance Protection, or it does not apply to your country or account type, you can lose more than the money you deposited and owe the broker the difference. Check whether it applies to you before you trade.

3.5Spreads, commissions, overnight financing charges and currency conversion fees all reduce your results. You pay them whether a trade gains or loses, and they add up the more you trade.

3.6Markets can become illiquid or be suspended. You may then be unable to close a position at the price you want, or at all.

4 Offshore broker entities

4.1We introduce clients to the offshore entities of our Partner Brokers. Each broker's page, reachable from our Brokers page, names the entity you would contract with, and that entity's regulator and licence number if it has one.

4.2Protections that clients of brokers regulated in the EU usually have may not apply to you, for example:

• limits on leverage for retail clients;
• Negative Balance Protection required by law;
• an investor compensation scheme that pays out if the broker fails; and
• access to an independent ombudsman or out-of-court complaints body.

4.3Rules on keeping client money separate from the broker's own money can differ from EU rules, and may be weaker. If the broker fails, you could lose money you hold with it.

4.4A broker's terms may require disputes to be decided under the law and in the courts of the country where the entity is based. That can be slow and costly.

4.5Licences held by other companies in the same broker group, for example in the EU, do not cover your account with the offshore entity.

4.6We do not supervise Partner Brokers and are not responsible for their solvency or conduct, as Terms of Use, section 7 explains.

5 Risks of receiving Rebates in crypto

5.1We do not pay Rebates or make any crypto payouts at present.

6 Risks of relying on Signals

6.1Signals are general analysis produced by published rules. They can be wrong, and a setup can end in a loss.

6.2Past results do not predict future ones. Our public record shows losses as well as gains, as the Signals Disclaimer and Method, section 6 explains.

6.3Levels are shown as published and are not checked against the live price. By the time you read a setup, the price may already have moved past its levels.

6.4Our price data can differ from your broker's prices. A level reached in our data may not be reached at your broker, and the other way round.

6.5Updates on how a setup is doing can be delayed, as the Signals Disclaimer and Method, clause 4.4 explains. Some text is written with AI, and it can contain mistakes.

6.6Signals are the same for everyone. They do not consider your finances, your experience or the size of your account.

7 Technology and delivery

7.1Internet connections, devices, apps, broker platforms and messaging channels can fail or be delayed. A message from us may arrive late or not at all. Do not rely on a message from us to manage an open position.

7.2A broker's trading platform can stop working, which may prevent you from closing a position.

7.3Keep your devices and passwords secure. Criminals copy the look of real services to steal logins and money.

8 The law where you live

8.1Trading Leveraged Products, using an offshore broker, sending money abroad or holding crypto-assets may be restricted, unprotected or unlawful where you live. If it is, your trades may have no protection under your local law, and a contract may not be enforceable. Check the law where you live before you trade.

8.2We do not offer the Services in Restricted Countries, as Terms of Use, section 4 explains. That a country is not restricted does not mean that trading is lawful or protected there.

9 Independent advice

9.1We do not give advice. Before you trade, think about whether you understand how these products work, and whether you can afford to take the high risk of losing your money.

9.2Consider getting independent advice from an adviser licensed where you live.