Risk Disclosure

Last updated: 15 August 2026 · OWOW Inc., Arato 2-4, Chuo Ward, Fukuoka City, Fukuoka Prefecture, Japan · [email protected]

Read this before you trade with anything Trade X provides. This disclosure is deliberately long. Trading leveraged instruments is one of the few consumer products that can take more money than you put into it, and automated trading adds failure modes that manual trading does not have. Nothing below is boilerplate for its own sake — each item describes a way people actually lose money with tools like ours.

1. No advice, no recommendation, no solicitation

Trade X supplies software, research and analytics. Nothing produced by Trade X — no strategy, score, signal, backtest, chart annotation, AI commentary, ranking, alert or dashboard figure — is investment advice, a personal recommendation, an offer, or a solicitation to buy or sell any instrument. We do not know your financial position, your objectives, your tax position, your regulatory status or your risk tolerance, and nothing we produce is tailored to them.

We are not your broker, your adviser, your fiduciary, your portfolio manager or your custodian. We never hold your money. Your money sits with your broker under your agreement with that broker, and your relationship with them is governed entirely by their terms, not ours.

Nothing on this site is directed at any person in any jurisdiction where publishing or accessing it would be contrary to local law or regulation. It is your responsibility to know whether you may lawfully use these products where you live.

2. You can lose everything, and possibly more

Foreign exchange, gold and other metals, indices, commodities, contracts for difference and cryptocurrency are high-risk instruments. Losses can exceed deposits on margined accounts unless your broker provides negative balance protection, and not every broker does. You should assume the worst case is the total loss of your account balance, and on some accounts a debt to your broker on top of it.

Most retail accounts trading CFDs lose money. Brokers in several jurisdictions are required to publish that percentage; look it up for your broker before funding an account.

2.1 Leverage

Leverage multiplies both directions. A position sized at 1:100 moves your equity one hundred times faster than the underlying does. A move of well under one percent against a fully leveraged position can close your account. Leverage is not a feature that increases returns; it is a feature that shortens the time until an adverse move becomes fatal.

2.2 Margin, margin calls and stop-out

Your broker can liquidate positions without notice when margin falls below their threshold. Liquidation happens at whatever price is available, not at a price you would have chosen, and typically at the worst moment in a move. A strategy that would have been profitable had the position survived is still a total loss if it was closed at the stop-out level.

2.3 Gapping, slippage and execution

Markets gap over weekends, around scheduled data, on central bank decisions and on unscheduled news. A stop-loss is an instruction to exit at the next available price, not a guarantee of the price you typed. In a gap, that price can be far worse. Guaranteed stops, where a broker offers them, cost money and have their own conditions.

Slippage between the price a strategy decides on and the price actually filled is normal, is worse in fast markets, and is worse on smaller accounts and wider-spread instruments. Backtests systematically understate it.

2.4 Liquidity and spread

Spreads widen at session opens, session closes, rollover, holidays and during volatility. A strategy that is profitable at typical spreads can be unprofitable at the spreads that actually prevail when it trades. Thin instruments can become effectively untradeable exactly when you need to exit.

2.5 Overnight, weekend and rollover costs

Positions held across the daily rollover incur swap or financing charges, which can be substantial on leveraged positions and are usually charged at a multiple over weekends. A strategy with a small edge per trade can be turned negative by financing alone.

3. Risks specific to automated and algorithmic trading

Everything in section 2 applies to manual trading too. This section is about the failure modes you take on by letting software trade for you.

• It keeps going when you are not watching. An automated system will continue to place orders through a period you would have sat out. Absence of supervision is the point of automation and also its main danger.
• Connectivity. A dropped connection between your terminal, your broker and our servers can mean an order is not sent, is sent twice, is not modified, or is not closed. Positions can be left open without their intended stop.
• Terminal, VPS and machine failure. If the machine running your Expert Advisor sleeps, restarts, updates, runs out of memory, loses power, or has its clock drift, the strategy stops managing its open positions. Those positions do not close themselves.
• Platform and broker outages. MetaTrader, your broker's servers and our servers can each be unavailable independently. Orders may be rejected, delayed, partially filled, or filled at prices far from those intended.
• Symbol and contract mismatch. Broker symbol naming, contract sizes, tick values, minimum volumes, stop levels and filling modes differ between brokers. A strategy validated on one broker's feed can behave differently on another's.
• Configuration error. A mistyped lot size, risk percentage, magic number or account selection can size positions orders of magnitude larger than intended. The software will execute the configuration you gave it, not the one you meant.
• Duplicate and conflicting instances. Running the same strategy on multiple terminals, or several strategies on one account, can multiply exposure, exceed intended risk and produce hedged or self-cancelling positions.
• Latency. The gap between a decision on our side and a fill on your broker's side is real and variable. High-frequency and scalping approaches are the most sensitive to it, and are the most likely to underperform their backtest for this reason alone.
• Silent degradation. An automated strategy that has stopped working rarely announces it. It usually just loses slightly more often, which is indistinguishable from a normal losing run until a great deal of money has passed through it.

You remain responsible for monitoring your account, your open positions and your total exposure at all times, including while automation is running. Automation does not transfer that responsibility to us, and no feature described anywhere on this site should be read as us assuming it.

4. Risks specific to AI-driven analysis

• Models are wrong sometimes, and confident anyway. AI output can be plausible, fluent, internally consistent and incorrect. Confidence in the wording carries no information about the accuracy of the conclusion.
• Models can fabricate. A model may state a level, a pattern, a statistic or an event that does not exist. Treat every specific claim as unverified until you have checked it against your own chart and data.
• Training data has a cutoff and a bias. A model reasons from what it has seen. Novel regimes, new instruments and structural breaks are precisely the conditions it has seen least of, and precisely the conditions in which capital is lost fastest.
• Non-determinism. The same question can produce different answers on different runs. Two users, or the same user twice, can receive different analyses of the same chart.
• Upstream dependence. Model providers change, deprecate, rate-limit and re-price their models. Behaviour can change without any change on our side.
• Garbage in. Analysis is only as good as the price data, news and context supplied to it. Bad ticks, missing bars and delayed feeds propagate straight through into the conclusion.

5. What our performance figures do and do not mean

We publish measured figures for the strategies in our vault, including profit factor, win rate, trade counts and expectancy. We publish them because hiding them would be worse. They are not a forecast, and they carry specific, disclosed limitations.

• Past performance does not indicate future results. This is not a formality. Strategy performance decays, and the decay is usually invisible until after it has happened.
• Single in-sample window. Our published screen is measured over one historical window. It is not walk-forward validated and not out-of-sample. A configuration can look strong on that window and fail immediately in live conditions.
• Overfitting and selection. When many configurations are tested, some will look excellent through chance alone. The most attractive-looking figures in any large vault are usually the least trustworthy, because extreme results cluster on small samples. Our own vault's highest profit factor sits on six trades, and we label it screened out for exactly that reason.
• Backtests understate costs. Simulated fills do not fully reproduce spread widening, slippage, commission, swap, requotes, partial fills or rejected orders.
• Aggregate expectancy is negative. Across our published screen, the vault as a whole sits below breakeven. Presence in the vault is not an endorsement of a strategy, and the majority do not clear our own credibility bar.
• Measurement coverage is partial. Our backtesting engine does not currently apply every parameter a strategy carries. Where it does not, our figures describe a looser version of the strategy than the one you would run.
• Hypothetical results have inherent limitations. Simulated performance is prepared with the benefit of hindsight and does not involve financial risk. No representation is made that any account will achieve results similar to those shown.

6. Third parties you also depend on

Using these products puts you in a chain of parties, any of which can fail independently of us: your broker, its liquidity providers and its regulator; MetaQuotes and the MetaTrader platform; your VPS or hosting provider; your internet provider; your AI model provider; our payment processors; and any prop firm or funded-account provider whose capital you trade. We do not control any of them, we do not underwrite their solvency or their conduct, and a failure on their side is not something we can remedy.

Counterparty risk. Brokers fail. Client money protection, segregation and compensation schemes vary enormously by jurisdiction and by entity within the same brand. Check which entity holds your account and what protection actually applies to it.

Funded and prop accounts. Evaluation and funded-account programmes impose their own drawdown limits, consistency rules, prohibited-strategy lists and news restrictions. Automated trading can breach those rules faster than you can intervene, and a breach usually forfeits the account and the fee paid for it. It is your responsibility to confirm that any strategy you run is permitted by that programme.

7. Cryptocurrency-specific risk

Crypto instruments trade continuously, are subject to extreme volatility, have shallower liquidity outside major pairs, and are exposed to protocol failures, exchange insolvency, forks, delistings and abrupt regulatory action. Weekend and holiday moves occur while other markets are closed and while many traders are not watching.

8. Technology, security and data risk

Software has defects, including ours. Systems can be attacked, credentials can be stolen, and integrations can misbehave after an update on either side. Keep your platform credentials secure, use unique passwords, enable every second factor your broker offers, and never share broker credentials with anyone, including with us — we never ask for them and never need them.

9. Tax and regulation

Trading profits and losses have tax consequences that differ by jurisdiction, by instrument and by your personal circumstances. We provide no tax advice and no tax reporting. Determining, reporting and paying what you owe is entirely your responsibility, as is complying with any licensing, registration or reporting obligation that applies to you.

10. Suitability, and the psychological part

These products are not suitable for everyone. They are not suitable for money you need, for borrowed money, for retirement savings, or for anyone who cannot withstand a total loss without material harm to their life. If you do not fully understand leveraged trading, seek independent advice from a licensed professional in your jurisdiction before using them.

Drawdown is psychologically harder than it looks in a table. A statistically ordinary losing streak feels like a broken system, and the most common way an otherwise sound plan destroys an account is the decision to override it, increase size or abandon it at the worst point in its cycle. Decide in advance what loss will make you stop, in money, and write it down before you fund the account.

11. Test first

Run everything on a demo account first, for long enough to see it handle a losing period, a news event, a weekend gap and a restart of your machine. Then run it live at the smallest size your broker permits. Scale only after the live results, not the backtest, have earned it.

12. Acknowledgement

By using Trade X products you confirm that you have read and understood this disclosure, that you accept full responsibility for your own trading decisions and their outcomes, and that you are trading only money whose complete loss you can absorb.