Risk Disclosure

Last updated: 8 August 2026

You should have read this before starting an algorithm on a live account. It forms part of the Terms and Conditions.

This is a courtesy translation. In case of any discrepancy, the German version prevails.

Leveraged trading can lead to total loss

CFDs, futures and foreign exchange transactions are traded on margin. A small move in the underlying produces a large move in your account — in both directions. You can lose all of the capital you commit.

Only commit money whose complete loss you can bear.

Whether this form of trading is suitable for you depends on your financial situation, your experience and your willingness to bear losses. That assessment is one we cannot make for you.

We do not advise you

We are not a broker, not a bank, not an asset manager and not a proprietary trading firm. We provide no investment advice and no investment brokerage, and we employ no licensed investment advisers.

Nothing on this platform — no metric, no description, no analysis — is a recommendation to enter into a particular transaction. If you need a personal recommendation, consult a licensed adviser.

What our numbers are and what they are not

This is the most important section on this page.

Backtests are recalculations, not results

The metrics for each algorithm come from simulated runs on historical price data. They are not evidence of what an account actually earned, and not a statement about what an account will earn in future.

Simulated results differ fundamentally from real ones:

• Execution. Slippage, partial fills, requotes and connection failures can only be approximated.
• Costs. Spreads, commissions and financing costs vary by broker, account and market conditions. Our pre-tests use flat rates.
• Hindsight. A rule is developed on data that already existed at the time of development. That advantage does not exist in live trading.
• Psychology. A simulated losing streak costs nobody any sleep. Someone who lives through a real one makes different decisions.

We state how robust a number is

We test every strategy for whether the sample carries at all (Probabilistic Sharpe, Minimum Track Record Length, bootstrap) and whether the result survives the number of attempts made (Deflated Sharpe, PBO). If a correction cannot be computed for lack of data, it counts as unverified, not as passed.

That makes our numbers more honest than a bare equity curve. It does not make them a forecast.

Markets change

A rule that worked for twelve years can stop working in the thirteenth without anything about the rule having changed. Past results are no indication of future ones.

Technical risks

An automated trading system runs on a chain of computer, internet connection, trading platform and broker. Every link can fail.

• If the computer stops or the connection drops, nobody executes your stops except the broker.
• Software can contain defects — ours included.
• Brokers differ in execution, symbol names, contract sizes and trading hours. The same strategy produces two results at two brokers.

Test on a demo account before committing real money, and watch a running system rather than leaving it to itself.

Proprietary trading firms and third-party rules

If you use our algorithms as part of an evaluation or a funded account with a proprietary trading firm, that firm's rules apply — daily loss limits, minimum trading days, prohibited strategies. Compliance is your responsibility.

We have no business relationship with any proprietary trading firm. Mentions of such providers are description, not endorsement.

Your responsibility

You decide whether, when, on which account and with what stake an algorithm runs. You are responsible for ensuring

• that the stake fits your financial situation,
• that trading these instruments is permitted where you live,
• that you meet your tax obligations.

The extent of our liability is set out in section 10 of the Terms and Conditions.

The essentials in four sentences

• Leveraged products can lead to total loss.
• Our metrics are recalculations, not achieved results and not a forecast.
• We supply software, not advice and not a trading result.
• The decision and the risk are yours.