Risk Disclaimer

1. The environment is simulated at every stage

1.1 Every account provided by the Company — the free demo, evaluation accounts on both the 1-Step and 2- Step programmes, and funded accounts alike — is a demo account. The word "demo" is used here in its ordinary dictionary sense of a mock: an imitation of the real thing, made for demonstration and testing, and not the thing itself.

1.2 No order you place is transmitted to any exchange, market, broker, liquidity provider or counterparty. No financial instrument is bought, sold, held or delivered at any point, by you or by us, in connection with your activity.

1.3 Prices shown to you are a feed used to make the simulation realistic. They may differ from prices available in the real market, and execution, spreads, slippage and swaps in the simulation may differ from what a live account would experience.

2. The balance shown to you is not money

2.1 The balance and the profit displayed on your account are described throughout our documents as "funds", in quotation marks. The quotation marks are deliberate and they mean what they appear to mean: these are not funds.

2.2 There is no object of ownership behind the figure. Because no such object exists, no right of ownership in it can exist, and you acquire none. The figure is a record of performance in a simulation.

2.3 You are not entitled to demand payment of the balance displayed on your account. You have no claim to it, it is not held for you, it is not segregated for you, and it does not become yours by being displayed.

2.4 Any payment you may receive from us is a Reward: a contractual payment calculated by reference to your simulated performance, payable only under the conditions set out in the Terms and Conditions. It is not a withdrawal of your money and not a distribution of trading profit.

3. What you are paying for, and what you can lose

3.1 The fee buys access to an evaluation programme. It does not buy capital, an account balance, a guarantee of a funded account, or a right to any Reward.

3.2 If you breach a rule of the programme — a loss limit, a risk limit, a prohibited practice — the account may end and the fee is not returned. This is the ordinary and expected outcome of a failed evaluation.

3.3 Completing an evaluation does not guarantee that a funded account will be issued. The Terms and Conditions set out the grounds on which we may decline, and the refund that applies if we do.

3.4 Whether you receive a Reward, and how much, depends on your simulated performance and on your compliance with the rules. It may be nothing at all. Rewards are also capped per request, so profit is released over several cycles rather than at once.

3.5 Do not pay us money you cannot afford to lose. Treat the fee as spent at the moment you pay it.

4. The two programmes carry different risk profiles

4.1 The 2-Step programme uses static loss limits. The level at which the account fails is fixed when the account is created and does not move.

4.2 The 1-Step programme uses trailing loss limits. The level at which the account fails follows the highest equity your account reaches and never moves back down. An account that has been in profit and then gives it back can therefore fail at a balance above its starting figure.

4.3 A trailing limit is not a milder rule than a static one. It is a different rule, and on a volatile account it is frequently the stricter of the two. Read clause 7.7 of the Terms and Conditions before choosing the 1-Step programme.

5. No advice, no guarantees, no regulated protections

5.1 Nothing we publish — dashboards, statistics, educational material, analytics, support answers or marketing — is investment advice, a recommendation, or a solicitation to trade any instrument.

5.2 Simulated results, including your own past results and those of other participants shown in our marketing, are not indicative of any future outcome.

5.3 Because we do not provide a regulated financial service and do not hold client money, the protections available to clients of regulated firms — including compensation schemes and financial ombudsman services — do not apply to your relationship with us.

5.4 You are solely responsible for any tax arising on a Reward.

6. Technical and operational risk

6.1 The service depends on third-party platforms, price feeds, hosting and payment providers. Outages, latency, feed errors, incorrect quotes and price spikes can occur and can affect your account.

6.2 We may void trades executed at prices that do not reflect market conditions, and we may correct an account balance following a technical fault. The remedies available to you in that situation are set out in the Terms and Conditions and are limited.

6.3 Positions on funded accounts are closed automatically before the weekend. Automatic closure takes place at market prices and may be subject to slippage.

6.4 Rules may change. Changes take effect after notice in accordance with the Terms and Conditions and can apply to accounts that are already open.

7. Eligibility

7.1 The service is not available to persons under 18, to United States persons, to citizens or residents of the Russian Federation or Belarus, or to persons connected with restricted or sanctioned jurisdictions as set out in the Terms and Conditions. Attempting to circumvent these restrictions results in closure of your accounts without a Reward.

7.2 Verification of your identity is required when a funded account is issued and before any Reward is paid. If you are unwilling to complete it, do not purchase.

7.3 The free demo account is available on the Match-Trader platform only.

8. Trading carries psychological risk

8.1 Repeated purchase of evaluation attempts after repeated failure is a pattern worth recognising in yourself. The programme is designed to be difficult, and persistence alone does not overcome an unprofitable approach.

8.2 If you find yourself buying attempts you cannot comfortably afford, or chasing losses across attempts, stop and seek independent guidance before continuing.