Risk Disclosure Statement

{{LEGAL_DRAFT}} — Risk overview pending counsel review. Plain intent (counsel to translate to defensible language): trading CFDs and leveraged products carries a high risk of losing money rapidly; you should not trade with money you cannot afford to lose; past performance does not predict future results. The mandatory risk warning is finalized with counsel.

{{LEGAL_DRAFT}} — Market-risk disclosure pending counsel review. Will cover: price volatility, gapping, news-driven moves, and the fact that losses can exceed initial deposits unless negative-balance protection applies — stated plainly rather than hedged.

{{LEGAL_DRAFT}} — Leverage and margin disclosure pending counsel review. Will cover: how leverage magnifies outcomes, margin requirements, margin calls, stop-out levels, and a worked example showing how quickly a leveraged position can be liquidated.

{{LEGAL_DRAFT}} — Liquidity-risk disclosure pending counsel review. Will cover: widening spreads, slippage, gapping over weekends and news, and reduced liquidity in exotic pairs and during off-hours.

{{LEGAL_DRAFT}} — Operational and technology risk disclosure pending counsel review. Will cover: platform downtime, connectivity loss, device failure, latency, and the limits of our responsibility for events outside our control, alongside the alternative ways to close a position.

{{LEGAL_DRAFT}} — Counterparty-risk disclosure pending counsel review. Will describe the counterparty and credit risk inherent to CFD trading, how client money is held and protected, and the firm's execution standards, per UK regulatory requirements.

{{LEGAL_DRAFT}} — Currency and conversion risk disclosure pending counsel review. Will cover: conversion of profits and losses, the spread applied on conversion, and the effect of exchange-rate movement on balances held in emerging-market currencies.

{{LEGAL_DRAFT}} — Per-asset-class risk disclosure pending counsel review. Will cover: forex (leverage, exotic-pair volatility), crypto (extreme volatility, 24/7 gapping, weekend spread widening), indices (cash-session gaps, dividends), and metals (volatility, geopolitical sensitivity).

{{LEGAL_DRAFT}} — Algorithmic-trading risk disclosure pending counsel review. Will cover: Expert Advisor and automated-strategy risk, runaway orders, the need for monitoring, the limits of backtesting, and the Client's full responsibility for automated orders placed under their account.

{{LEGAL_DRAFT}} — Synthetic-instrument risk disclosure pending counsel review. Plain intent: synthetic prices do not track any real underlying market, so no external hedge exists; the model uses a normal distribution with clamps and may under-represent fat-tail events; every symbol has a published spread and, where applicable, a per-lot commission that favors the house on aggregate; admin-configurable risk overrides (spread multiplier, close-only, paused) may be applied to the whole symbol universe under stress conditions and are audited but not reversible; the fairness boundary — the engine cannot read Client positions — is documented on the Fairness Proof page.

{{LEGAL_DRAFT}} — Mobile-trading risk disclosure pending counsel review. Will cover: connectivity interruptions on mobile networks, accidental order entry, screen-size limitations, and the recommendation to verify critical orders.

{{LEGAL_DRAFT}} — Statistical loss-rate disclosure pending counsel review and live data. Will state the percentage of retail investor accounts that lose money trading with TFC Global Markets, in the FCA-prescribed format, once we have live trading data. We will not publish a fabricated figure before launch.

{{LEGAL_DRAFT}} — Risk warning summary pending counsel review. Will restate, in the mandatory format: the high-risk nature of leveraged trading, the retail loss-rate figure, and the recommendation to seek independent advice if anything is unclear.