Risk Disclosure
Trading digital assets and leveraged contracts involves a high degree of risk and is not suitable for everyone. Please read this disclosure carefully and make sure you understand it before you trade.
1. You can lose everything you put in
The value of digital assets and of gold can change very quickly and by a large amount. A leveraged position multiplies that change: a small move against you can use up all the margin on a position, and the position is then closed automatically. Only trade with money you can afford to lose.
2. Leverage
Leverage lets you hold a position larger than the margin you put up. The higher the leverage, the smaller the price move that closes your position. Profit and loss are both calculated on the full size of the position, not on your margin. Leverage is available only on the futures markets and its maximum differs by market.
3. Margin calls and liquidation
If the margin ratio of a position reaches the margin-call level you will be warned, but there may not be time to act. If it reaches the maintenance level the position is closed automatically at the prevailing price, and the margin and the fees on it are lost. In fast markets the closing price can be worse than the price at which the position reached the maintenance level.
4. You trade against the platform
On the Platform you trade against our own treasury at the price we quote, not against other users. We may hedge our exposure on other venues. Our interests and yours may differ, and we may profit when you lose. The quote you accept is the price you get, within the limits shown for the market.
5. Volatility, gaps and halts
Prices can move sharply and without warning, including because of news, low liquidity or the failure of a data source. A market can be halted. Prices can jump past a stop or a take-profit level, so a protective order may execute at a worse price than the one you set, or not at all.
6. Funding
Perpetual contracts have no expiry. Instead a funding payment is made between long and short holders at regular intervals; depending on the rate you may pay or receive it. Funding is charged on the position's size and can add up while a position is held.
7. Digital assets
Digital assets are not legal tender and are not backed by a government or central bank. Their value depends on market demand and can fall to zero. Laws and regulation of digital assets differ between countries and may change, which could affect your ability to hold or use them. Transfers on a blockchain are irreversible: a transfer to a wrong address or on a wrong network usually cannot be recovered.
8. Technology and security
The Platform depends on technology, networks and third parties that can fail, be attacked or be delayed. You are responsible for the security of your devices, your password and your authenticator. Anyone who has them can act as you.
9. Bonuses
A bonus is subject to its own rules, which you should read before you ask for it. It may be limited in how it can be used, may expire, and a part of what is made with it may be reclaimed. A bonus does not remove any risk of trading.
10. No advice
Nothing on the Platform is investment, financial, legal or tax advice, and nothing is a recommendation to buy or sell. Past performance does not predict future results. Take independent advice if you are unsure whether trading suits you. You are responsible for any tax that arises from your trading.
11. Where the services are offered
The Platform's services are not offered in every country, and not to people who are prohibited by law from using them. It is your responsibility to check that your use of the Platform is lawful where you live.