Financial & Trading Risk Disclaimer

The core warning

Trading and leveraged products involve substantial risk. You may lose some or all of the money you commit — including fees paid to providers. SMCM does not promise profits or trading success, and nothing on this site is financial, investment, legal or tax advice or a personal recommendation. Past performance — including any result shown by a provider or on this site — does not guarantee future results. If you are unsure whether a decision is right for you, consult a licensed professional.

Prop / funded trading programs

• Evaluation and challenge fees can be lost, and there is no guarantee you will ever reach a payout. Passing an evaluation is not guaranteed.
• "Funded" does not necessarily mean you control the advertised capital as your own money — many programs run on simulated or evaluation environments.
• Payouts are subject to the provider's rules and eligibility: drawdown limits, daily loss limits, consistency rules, activity requirements and prohibited-strategy rules can end an account or delay a payout, even after profitable trading.
• Provider rules can change, and SMCM does not guarantee any provider's solvency, conduct or future payouts. Read the provider's current rulebook before paying.

Futures

Futures and other leveraged derivatives can produce rapid, substantial losses that may exceed your initial commitment, especially around volatile events. Contract specifications, margin requirements and market data costs vary — understand them before trading.

Forex and CFDs

Forex and CFD trading carries a high level of risk due to leverage, and a large proportion of retail traders lose money. Spreads, commissions, swaps and slippage affect the real cost of every trade. Your protections depend on which legal entity of a broker onboards you and its regulator — the same brand can offer very different protections in different countries. Where a regulated provider publishes its own required risk warning (including its own loss percentage), that provider's current wording applies to its services.

Crypto and digital assets

Crypto assets are highly volatile and can lose most or all of their value. Custody matters: with self-custody, a lost seed phrase usually means permanently lost funds; with custodial services, you depend on the company's security and solvency. Regulatory protections differ sharply by country and are often weaker than for traditional financial products, and technology or cybersecurity failures can cause loss. No crypto service should be treated as unconditionally "safe".

Wallets, cards and payment products

Crypto cards, wallets and payment apps are not bank accounts. Unless a specific provider verifiably states otherwise for your jurisdiction, do not assume deposit protection, insurance or regulatory approval. Fees, limits, supported countries and KYC requirements are set by the provider and can change.

Before you act

Provider rules, prices, promotions, eligibility and availability change. Always verify current terms directly with the provider before registering, depositing or paying — and see how we work in our Editorial & Ranking Methodology and How We Make Money.