Risk Disclosure

A CFD is an agreement to exchange the difference in an instrument's price between when a position is opened and when it is closed. You do not own the underlying currency, share, commodity or coin, and you have no rights attached to it. CFDs may not be suitable for everyone.

Leverage lets you open a position larger than the margin you put up. A small price movement against you therefore produces a proportionally large loss relative to your margin, and you can lose all of the funds in your trading account quickly.

If losses reduce your equity, the margin supporting your positions shrinks. When your margin level reaches the stop-out level shown in the terminal, positions can be closed automatically at the prevailing price, which may lock in a loss at the worst moment. Monitor your account and keep enough equity to support what you hold.

Prices can move sharply on economic data, news and geopolitical events, and can gap between one price and the next — particularly at market opens, over weekends and around announcements. A gap can cause a stop-loss to be filled well beyond its level.

Every trade pays the spread, and some accounts and instruments also pay commission. Positions held overnight are charged or credited a swap. These costs apply whether a trade wins or loses, and spreads can widen sharply in fast markets. The exact figures are shown per instrument in the terminal before you trade.

Orders are routed to external liquidity providers. In fast or illiquid conditions an order may be filled at a worse price than requested, partially filled, or rejected. Internet, device, platform or liquidity-provider failures can delay or prevent you from opening, managing or closing positions.

When you copy a provider or allocate to a manager, their trades become your risk. A provider's or manager's past results do not predict future results, and you can lose money even when following an experienced trader.

• Currency risk — where an instrument is priced in a different currency from your account, exchange-rate movements affect your result.
• Liquidity risk — some instruments trade thinly at times, and a position may not be closable at the price you want.
• Counterparty and operational risk — a bank, payment provider, liquidity provider or technology failure can delay or impair access to funds.
• Cryptocurrency risk — USDT deposits and withdrawals are subject to network congestion, irreversible transfers to a wrong address or network, and the stability of the token itself. Crypto CFDs are especially volatile.
• Regulatory risk — a change in the law where you live may restrict your ability to trade or hold positions.
• Company risk — Company registration in St. Vincent and the Grenadines is in progress. Funds held with us are not bank deposits and are not covered by a deposit-guarantee or investor-compensation scheme.

Past performance is not a reliable indicator of future results, and no strategy is guaranteed to be profitable. Nothing we publish is personalised advice. Before trading, seek your own independent financial, legal and tax advice, and confirm that CFDs are permitted in your country of residence. If any part of this disclosure is unclear, ask us before you fund an account — not after.