Risk Disclosure

This section describes a low-probability but possible operational risk scenario. Although we do not anticipate this situation occurring and actively manage our internal margin exposure to mitigate such risks, we believe in full transparency. Accordingly, we disclose how this scenario would be handled should it ever arise.

Prospective clients should carefully review and understand the potential risks associated with purchasing an evaluation.

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Key Points (Summary)

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1. Trade Hedging (A-Booking)
   All simulated trades are continuously A-booked and hedged using real capital to guarantee trader payouts.

2. Risk Allocation and Funding Timing
   Our firm assumes the financial risk associated with trader payouts by accepting the possibility of delayed funding rather than exposing traders to non-payment risk.

3. Payment Assurance and Opportunity Cost
   By trading with our firm, clients assume no risk of non-payment (except in the case of extraordinary force majeure events or acts of God). The only risk borne by the trader in this scenario is a potential opportunity cost resulting from delayed funding.

4. Refund Policy in the Event of Delay
   In the unlikely event that a trader successfully passes an evaluation but immediate funding is not available due to an internal margin imbalance, the trader may choose to continue waiting or request a full refund at any time.

5. Margin Transparency (Upcoming Feature)
   We are in the process of implementing a blockchain-based transparency feature that will allow users to monitor our margin health in real time via the FX blockchain ledger. This will enable prospective clients to independently assess margin conditions prior to purchasing an evaluation. 

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Getting Approved

Because we genuinely A-book and hedge all simulated trading activity using real proprietary capital, our operating model involves certain structural trade-offs.

 

We have deliberately chosen to prioritize payout certainty for traders, even if that choice may, in rare circumstances, result in slower funding timelines due to temporary operational or margin imbalances (for example, an unusually high concentration of evaluation passes within a short time period).

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This approach is intentional and designed to protect both trader payouts and long-term firm stability.

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What This Means for You

If an internal firm imbalance were ever to occur and you successfully pass your evaluation during such a period, this does not mean you lose your money.

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However, under specific conditions, it may mean that we face practical limits on how quickly funded accounts can be issued, particularly during periods of:

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• Abnormally high evaluation pass rates, and/or

• Temporarily reduced margin health resulting from concentrated risk exposure.

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Funding Priority and Refund Option

In the unlikely event of such an imbalance, we would activate a Trader Smart Queue, an obligation-based funding list that ensures all eligible traders are funded on a first-come, first-served basis.

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While in this queue:

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• You may continue waiting for funding, or

• You may request a full refund at any time, which will be processed immediately and without delay.

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If the anticipated wait time does not meet your expectations, you are fully entitled to request a refund, and we will honor that request promptly.

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How Refunds Are Guaranteed

We maintain strict capital controls and never deploy evaluation fees in a manner that could place the firm in debt to traders or create outsized payout liabilities.

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Evaluation fees are not exposed to live A-book execution until internal metrics—such as current margin health and pass/fail ratios—confirm that doing so is financially prudent. 

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In other words, we do not collect an evaluation fee and use it for live execution until the trader has confirmed failed their evaluation. 

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How Evaluation Fees Are Used

When an evaluation is failed, the associated evaluation fees (net of operational expenses) are allocated directly to our liquidity partner’s margin account.

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These funds serve as the initial loss buffer within our structured first-loss funding model, helping offset firm-wide risk when funding traders. In effect, failed evaluation fees act as a stabilizing reserve against maximum loss limits at the firm level.

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Priority Funding

In cases of margin imbalance, commitments that depend on firm margin availability—including account upgrades, profit split increases, drawdown enhancements, or scaling—remain subject to available margin at the time. Funding new traders always takes priority over any account upgrades.

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Important Clarification on Firm Risk

High payout volumes are never a risk to our firm.
On the contrary, higher payout rates directly improve our long-term corporate profitability. Temporary funding delays are driven by risk concentration and margin timing—not by payout sustainability.

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Your Rights

If we are ever unable to fulfill a funding commitment within a timeframe you consider reasonable, you are fully entitled to a refund, which will be processed immediately—no questions asked.

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If you choose to wait, your funded account will be issued as soon as doing so is financially responsible, without compromising firm stability or prematurely allocating evaluation fees before current pass rates confirm it is safe.

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Transparency and Future Development

For full transparency, we are actively developing a blockchain-based reporting system that will allow traders to monitor:

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• Live margin health

• Pass/fail ratios

• Trade execution statistics

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via a verified FX blockchain profile. This is a forthcoming feature, not yet live. Once implemented, it will provide real-time visibility into firm capacity, allowing traders to make more informed decisions about purchasing additional evaluations or scaling activity.

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Refund Eligibility Limits

Refunds apply only in the specific imbalance scenario described above and only if you choose not to wait for funding.

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Please note:

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• Failed evaluations are not refundable

• Delays related to funded account upgrades or enhancements are not refundable

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Final Clarification

The moment either of the following occurs:

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• You are issued a funded account, or

• You fail your evaluation

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your eligibility to request a refund is permanently closed.

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Refund Fee Disclosure

In the rare event that this risk scenario occurs and you elect to request a refund, the refund will be issued minus any non-refundable payment processing and transaction fees incurred during the purchase and refund process.

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These fees may range between 3% and 10% of the evaluation value, depending on payment method and region.

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We do not profit from refunds, and evaluation fees are never used in a manner that could compromise your ability to receive one in this disclosed scenario.​

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