Risk Disclosure

1. High-risk, leveraged products

Trading leveraged products such as forex and contracts for difference (CFDs) carries a high level of risk to your capital and may not be suitable for all investors. You could lose substantially more than your initial deposit on non-protected accounts, and even with negative balance protection you may lose all of the funds you deposit.

Leverage means a relatively small market movement can have a proportionately larger effect on the funds you have deposited. This can work against you as well as for you.

2. No advice and appropriateness

We provide an execution-only service and do not give investment advice or personal recommendations. Any information, research or tools we provide are general in nature. You are solely responsible for your trading decisions and for assessing whether a product is appropriate for you.

3. Market risk and volatility

Prices can move rapidly and unpredictably in response to economic data, central-bank decisions, geopolitical events and market sentiment. Markets may gap, meaning prices jump from one level to another without trading at the levels in between, which can result in losses greater than expected.

4. Liquidity, slippage and order execution

In fast or thin markets, the price at which your Order is executed may differ from the price you requested (slippage). Orders intended to limit losses, such as stop-loss Orders, are not guaranteed to execute at the specified level and may be filled at a worse price.

5. Margin and stop-out risk

You must maintain sufficient Margin to keep positions open. If your Margin falls below the required level, your positions may be closed automatically without notice, potentially crystallising losses. Adding funds to meet Margin calls increases the amount you have at risk.

6. Currency risk

Where you trade instruments denominated in a currency other than your account base currency, your profits and losses, and the value of your positions, may be affected by exchange-rate movements.

7. Cryptocurrency-specific risks

Cryptocurrency products can be exceptionally volatile and may be subject to sudden and significant price swings, lower liquidity, legal uncertainty and operational risks. They may not be suitable for all investors and should be approached with particular caution.

8. Technology and execution risk

Online trading relies on technology and connectivity. Hardware, software, internet or third-party failures, latency, and cyber-events may prevent or delay the placing or execution of Orders. You should maintain alternative means of managing your positions.

9. Counterparty risk and protections

When you trade with us you are exposed to us as your counterparty. We hold retail client money in segregated accounts with tier-1 banks, and eligible retail clients benefit from negative balance protection. These protections reduce, but do not eliminate, risk, and may not apply to all client categories.

10. Costs and their impact

Spreads, commissions, swap/overnight charges and other costs reduce your net returns and can turn a profitable position into a loss, particularly for positions held over time or traded frequently.

11. Tax

The tax treatment of your trading depends on your individual circumstances and may change. We do not provide tax advice. You are responsible for any taxes that may apply to your trading and should seek independent advice.

12. No guarantee of profit

There is no guarantee that you will profit, and past performance is not a reliable indicator of future results. Hypothetical or simulated results have inherent limitations and do not represent actual trading.

13. Acknowledgement

By opening an account and trading with us, you acknowledge that you have read and understood this Risk Disclosure and that you accept the risks of trading leveraged products.