Risk Disclosure

1) Risk disclosure

Futures, forex and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

The same applies to every other product DT Terminal records or displays, including spot forex, CFDs, cryptocurrency, stocks and any leveraged or margined instrument. Leverage magnifies losses as well as gains. Markets can gap through a stop loss, and a position can be closed at a worse price than the one you set. Funded and evaluation accounts carry their own rules, fees and drawdown limits, and a breach can end the account regardless of how the underlying trades performed.

2) What a verified record means, and what it does not

• Broker-Verified means the trades on a record were received directly from the trader's broker or trading platform through a connection they authorised, rather than typed in by hand. Firm-Verified means the account is held at a prop firm and its fills were reported by that firm's platform. Payout-verified means a payout from that firm was confirmed. Each seal describes where the data came from. None is an assessment of the trader's skill, their risk of ruin, or their future.
• Past verified performance is not a forecast. A trader who has been profitable for the whole period we can see may lose money from the next trade onward, and a verified record of losses says nothing about the next period either.
• Verification is not an audit. We check the data path, apply automated consistency checks, and flag what fails them. We do not verify a trader's identity beyond what their broker provides, their other accounts, their tax position, or anything they have not connected.
• A trader controls which accounts appear on their public record. A public record can therefore be a selection, and DT Terminal cannot see accounts that were never connected.
• Records shown on DT Terminal are not an invitation to copy the trader, subscribe to them, send them money, or follow their calls. Any arrangement you enter into with another trader is between you and them.

3) Hypothetical and simulated performance

Some performance on DT Terminal is not backed by a broker or firm record. This includes Backtester sessions, forward tests, demo and sample records that we label as examples, manually logged trades, and any figures a trader has typed in rather than synced. Treat all of it as hypothetical, and read the following disclaimer, which we are required to publish under CFTC Rule 4.41 for exactly this kind of result:

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.

Backtests in particular are built on historical prices with the benefit of hindsight, and do not account for slippage, missed fills, spread changes, commission differences or the decisions you would have made under real pressure with real money.

4) Prop firm challenges and payouts

Most people who buy a prop firm evaluation do not pass it, and many who pass do not go on to receive a payout. The payouts and passed phases you see on DT Terminal belong to the traders who did, which makes them a record of survivors rather than a picture of the typical outcome. Evaluation fees are usually non-refundable. Before buying a challenge, read the firm's own rules, and understand that DT Terminal does not run, sell or guarantee any evaluation.

5) Not advice, not a broker

• DT Terminal does not provide financial, investment, legal or tax advice. Nothing on this site or in the product is a recommendation to buy, sell or hold any instrument, or a solicitation to open an account anywhere.
• DT Terminal is not a broker, futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator or investment adviser, and is not registered with the CFTC, NFA, SEC or any other financial regulator. We do not hold client funds and we do not execute trades.
• Analytics, insights, scores, alerts and anything written by Edge AI are generated from the data in your journal and from models that can be wrong. They are tools for reviewing your own trading, not signals.
• Trade ideas and calls posted by members of the community are their own opinions, shared for education. They are not vetted by DT Terminal and they are not advice.

6) Testimonials and endorsements

Testimonials on this site reflect the experience of the person giving them and are not representative of what other users will experience. Individual results vary. Where a person giving a testimonial is an affiliate, a scholarship recipient or has otherwise been compensated by DT Terminal, we say so alongside it.

7) Third-party platforms, brokers and firms

DT Terminal connects to trading platforms, brokers, exchanges and prop firms that are independent of us. A platform or firm appearing on DT Terminal, or DT Terminal being listed by a platform, does not mean either endorses the other. Product names and logos are trademarks of their respective owners.

NinjaTrader is a registered trademark of NinjaTrader Group, LLC. No NinjaTrader company has any affiliation with DT Terminal, or any interest, ownership or otherwise in it, and none endorses, recommends or approves it. MetaTrader is a trademark of MetaQuotes Ltd. Where a broker or firm partners with DT Terminal, the partnership covers verification and does not extend to any recommendation of that broker or firm.

8) Broker credentials and connected assistants

DT Terminal never places orders and never moves money, so it does not need a credential that can. When you connect an account, use read-only or investor access and switch off trading and withdrawal permissions at the broker or exchange. If you connect a key, token or login that can trade, transfer or withdraw, you are doing so against our instruction and at your own risk: if anyone uses those permissions, whether they obtained the credential from your device, from your broker, through an assistant you connected, or in any other way, the loss is yours except where the law says otherwise or the cause is our own fault. The same applies to a connected assistant you give write access to: it can change or delete your records, and what it does counts as your action. If you think a credential has been exposed, revoke it at the broker first, then disconnect it here.

9) Market data

Prices, rates, calendars and other market data shown on DT Terminal may be delayed, incomplete, or revised by their original publisher, and must not be used to make trading decisions. The providers, and the notices they require, are listed on Data sources.

10) Your responsibility

You alone decide whether, what and how much to trade, and you are responsible for the results. Consider your own financial situation and experience, and take independent advice if you are unsure. This page forms part of our Terms of Service. Questions about it can be sent to hi@dtjournal.app.