KuantTrade

Legal

Risk Disclosure Agreement

Disclosure of the risks of trading through the KuantTrade platform, given by KuantTrade to the User.

Version 2026-08-28r2 · not in force

Draft: not yet in force

This text is complete but is not yet in effect: the registered name of the operating company and its registered address for notices has not been recorded in it. An effective date will be published once that is done.

Notice

TRADING SECURITIES, OPTIONS AND DIGITAL ASSETS INVOLVES A SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR EVERY PERSON. THE USER CAN LOSE THE ENTIRE AMOUNT INVESTED, AND IN MARGIN, SHORT AND CERTAIN OPTIONS POSITIONS CAN LOSE MORE THAN THE AMOUNT INVESTED AND BECOME INDEBTED TO A BROKER. AUTOMATION DOES NOT REDUCE THESE RISKS. THE USER SHOULD NOT TRADE WITH FUNDS THE USER CANNOT AFFORD TO LOSE IN THEIR ENTIRETY, AND SHOULD NOT AUTOMATE A STRATEGY THE USER DOES NOT UNDERSTAND SUFFICIENTLY TO SUPERVISE.

This Risk Disclosure Agreement forms part of the agreement between KuantTrade (the "Company") and the party identified during the account registration process (the "User"), and is incorporated into the Terms of Service. The User accepts it at registration. Capitalised terms used and not defined here have the meanings given in the Terms of Service.

This document does not disclose every risk of trading. No document can. It discloses the risks the Company considers material to use of the Service, and the User remains responsible for becoming informed as to the instruments traded, the venues upon which they are traded, and the law applicable to the User.

1. Assumption of risk

1.1 Risk is assumed by the User.

By connecting a live Brokerage Account to the Service, by enabling a Strategy, by confirming a drafted order, or by adopting an automation setting under which Order Instructions are transmitted without individual confirmation, the User assumes the risks disclosed in this document in their entirety.

1.2 No waiver by the Company.

Nothing in this document limits any right conferred upon the User by mandatory law applicable to the User, and nothing in it constitutes a waiver of any right which cannot lawfully be waived.

2. Suitability; absence of assessment

2.1 The Company performs no assessment.

The Company does not know and does not enquire into the User’s income, net worth, obligations, experience, tax position or objectives. The Company performs no suitability assessment, no appropriateness test and no know-your-customer review beyond that required to operate an account with the Company. A Broker may perform such assessments; the Company does not, and the Service will not prevent the User from acting in a manner unsuited to the User’s circumstances.

2.2 The determination is the User’s.

Before using the Service with live capital the User should consider whether automated trading is appropriate in the light of the User’s experience, objectives, financial resources and tolerance for loss, and should obtain independent professional advice where the User is in doubt. Where the User cannot afford to lose the capital in a Brokerage Account, the User should not connect that account.

3. Past performance, backtesting and hypothetical results

3.1 Past performance.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS APPLIES TO ACTUAL TRADING RECORDS, TO BACKTESTS, TO SIMULATIONS, TO STRATEGY TEMPLATE STATISTICS, TO ANY FIGURE RANKED OR SCORED ANYWHERE IN THE SERVICE, AND TO ANY FIGURE PUBLISHED UPON THE COMPANY’S WEBSITE OR IN ITS MARKETING. NO REPRESENTATION IS MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO ANY RESULT SHOWN.

3.2 Hypothetical performance.

HYPOTHETICAL PERFORMANCE RESULTS HAVE INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. BECAUSE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS ARE GENERALLY DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

3.3 Specific limitations of a backtest.

A backtest conducted within the Service:

  1. models fills rather than obtaining them, so that the price at which the model records a transaction is not a price at which any counterparty offered to transact;
  2. approximates or omits spread, slippage, partial fills, queue position, market impact, borrow availability and borrow cost;
  3. may fail to reproduce halts, gaps, auctions, limit-up and limit-down states, venue outages and order rejections;
  4. may rely upon historical data which has since been revised, or which is incomplete, differently adjusted or incorrect;
  5. is exposed to survivorship bias where the instrument set excludes securities since delisted, and to look-ahead bias where a datum was not knowable at the modelled time;
  6. reflects commissions, financing and taxes only to the extent the User has configured them, and never reflects the User’s personal tax position; and
  7. improves as it is adjusted against a single historical period, so that a result tuned upon a period describes that period and does not predict any other.

3.4 Published statistics.

Any statistic attached to a strategy template, ranking, discovery result or shared configuration is subject to Sections 3.1 to 3.3. It is published for information only and is neither a recommendation nor a forecast.

4. Risks of automated trading

4.1 The nature of the risk.

Automation is the principal function of the Service and the principal source of risk within it. A person observing a market hesitates where something appears irregular; software does not. A rule which is subtly incorrect will act upon every occurrence, at full size, without pause, until the User halts it.

4.2 Specific acknowledgements.

The User specifically acknowledges that:

  1. a Strategy performs exactly what its configuration specifies, which may differ from what the User intended;
  2. a rule which is valid, executable and profitable in one market regime may produce a rapid sequence of losing transactions in another;
  3. an incorrect symbol, quantity, side, expiry or threshold may cause live Order Instructions to be transmitted in a live account, and the Service is not capable of identifying such an entry as an error;
  4. enabling or disabling a Strategy at an inopportune moment, or failing to recall that a Strategy is enabled, may produce the same result;
  5. multiple Strategies acting upon the same instrument may accumulate exposure beyond the amount the User intended for that instrument, and limits configured per Strategy do not aggregate across Strategies unless the User configures them to do so;
  6. a manual transaction or manual closure effected at a Broker may leave a Strategy managing a position which no longer exists, or exposed to a position of which it has no record;
  7. automation may act while the User is asleep, travelling, offline or otherwise unable to intervene, and digital-asset markets trade continuously, including while equity markets are closed;
  8. losses may accumulate faster than the User is able to respond to them; and
  9. position sizing, limits, kill switches and automation settings are software controls which may themselves fail or be misconfigured.

4.3 Mitigation is not elimination.

The User should test a Strategy in Simulated Trading before operating it with live capital, should commence at a size the total loss of which the User can absorb, and should supervise it. None of those steps renders a Strategy safe; they render its failures survivable.

5. Signals, webhooks and external sources

5.1 External sources form part of the User’s system.

Where the User causes a Strategy to be driven by an external source, whether a charting platform, a signal service or software of the User’s own, that source forms part of the User’s trading system and its failures become the User’s losses. Signals may arrive late, arrive more than once, arrive out of sequence, or fail to arrive. A source may alter its behaviour without notice. An indicator which repaints may generate a Signal which is not present upon subsequent inspection.

5.1b An order arriving by webhook takes a shorter path.

AN ORDER INSTRUCTION ORIGINATING FROM AN EXTERNAL SIGNAL DELIVERED BY WEBHOOK DOES NOT PASS THROUGH THE PRE-TRADE CHECKS APPLIED TO AN ORDER DRAFTED BY AN AUTOMATED TOOL WITHIN THE SERVICE. THE LIMITS CONFIGURED UPON THE STRATEGY RECEIVING THE SIGNAL CONTINUE TO APPLY; THE ADDITIONAL CHECKS DESCRIBED FOR DRAFTED ORDERS DO NOT. A USER WHO RELIES UPON THOSE ADDITIONAL CHECKS MUST NOT ASSUME THEM UPON THIS PATH.

5.2 Webhook confidentiality.

A WEBHOOK ADDRESS IS A CREDENTIAL. ANY PERSON IN POSSESSION OF IT IS ABLE TO TRIGGER THE STRATEGY BEHIND IT. IT SHOULD NOT BE PUBLISHED, INCLUDED IN A SCREENSHOT, OR CONTAINED IN A SHARED CONFIGURATION, AND SHOULD BE REGENERATED UPON ANY SUSPECTED DISCLOSURE. ORDER INSTRUCTIONS TRANSMITTED THROUGH A DISCLOSED WEBHOOK ARE ORDER INSTRUCTIONS IN THE USER’S ACCOUNT.

5.3 Rate limiting.

The Company may rate-limit, delay, reject or discard Signals in order to protect the Service and gives no guarantee of delivery or of sequence.

6. Risks of automated analytical and drafting tools

6.1 Nature of the tools.

The Service includes tools implemented using large language models. Such models generate text which reads as reasoning. It is not reasoning of the kind performed by a professional, and its fluency is not evidence of its accuracy.

6.2 No recommendation.

NO TOOL OUTPUT IS A RECOMMENDATION, A SUGGESTION, AN OPINION OR INVESTMENT ADVICE. THE COMPANY EXPRESSES NO VIEW ON THE FUTURE PRICE OF ANY INSTRUMENT, ON THE LIKELIHOOD OF ANY OUTCOME, OR ON WHETHER ANY INSTRUMENT, STRUCTURE OR TRANSACTION IS APPROPRIATE FOR THE USER, AND PERFORMS NO SUITABILITY ASSESSMENT. THE SERVICE DOES APPLY PRE-SET PARAMETERS WHEN GENERATING, FILTERING AND ORDERING SUCH OUTPUT; SECTIONS 5.3 AND 5.4 OF THE TERMS OF SERVICE DESCRIBE THEM. TOOL OUTPUT IS PRESENTED SOLELY FOR THE USER’S OWN EVALUATION.

6.3 Specific limitations.

Tool Output within the Service may:

  1. state a figure, a price, a position or a market fact incorrectly while presenting it with complete confidence;
  2. respond to a request other than the one the User made, in a manner which is internally coherent;
  3. produce a Strategy or a drafted order which is internally consistent and wholly unsuited to the User’s circumstances;
  4. be influenced by material it has read, including a webhook payload, a document or a third-party page, in a manner the User did not intend;
  5. differ between versions of the underlying model, so that an identical request produces different output upon a different day; and
  6. be unavailable, truncated or degraded, including in the course of a single operation.

6.4 Confirmation is a decision of the User.

A DRAFTED ORDER IS NOT AN ORDER. WHERE THE USER CONFIRMS A DRAFT, THE RESULTING ORDER INSTRUCTION IS THE USER’S. WHERE THE USER ADOPTS AN AUTOMATION SETTING UNDER WHICH A CLASS OF ORDER INSTRUCTION IS TRANSMITTED WITHOUT INDIVIDUAL CONFIRMATION, EVERY SUCH ORDER INSTRUCTION IS ALSO THE USER’S. THE USER SHOULD READ WHAT A DRAFT ACTUALLY SPECIFIES, NAMELY THE INSTRUMENT, THE SIDE, THE QUANTITY, THE PRICE AND THE EXPIRY, AND VERIFY IT AGAINST THE USER’S OWN BROKERAGE ACCOUNT BEFORE CONFIRMING IT.

7. Machine access and Connected Clients

7.1 Extension of the trading system.

The User may authorise third-party software, including an automated assistant operated by another undertaking, to access the Account through the Company’s machine interface. Doing so extends the User’s trading system into software the Company neither controls nor is able to audit.

7.2 Specific risks.

Data read by a Connected Client leaves the Company’s systems and becomes subject to that operator’s terms, retention and security. A Connected Client may be compromised, may behave unexpectedly following an update, may be directed by an instruction composed by another person, or may act upon stale information. Credentials issued by the User may be obtained from wherever the User has stored them. The User should grant the narrowest scope sufficient for the intended purpose, review the access record the Company maintains, and revoke access no longer required.

8. Equities and exchange-traded funds

8.1 Price and liquidity.

The price of a share or fund may fall to zero. Prices may gap between the close of one session and the opening of the next, such that no price between the two was available. Trading may be halted for news, for volatility or by a regulator, and a halted instrument cannot be exited at any price. Liquidity varies by instrument and by time of day; a position readily entered may be costly or impossible to exit in size.

8.2 Extended hours and corporate actions.

Extended-hours trading, where a Broker offers it, carries wider spreads, thinner liquidity and prices which may differ materially from the regular session. Corporate actions, including splits, reverse splits, spin-offs, mergers, delistings and symbol changes, may alter the nature of a position, and a Strategy may not recognise the instrument thereafter. Leveraged and inverse funds are designed to track a daily objective and may behave very differently over longer periods.

8.3 Day-trading designation and settlement in a cash account.

AUTOMATION MAKES BOTH OF THE FOLLOWING EASY TO TRIGGER WITHOUT INTENDING TO. IN A MARGIN ACCOUNT SUBJECT TO UNITED STATES RULES, FOUR OR MORE DAY TRADES WITHIN FIVE BUSINESS DAYS MAY CAUSE THE BROKER TO DESIGNATE THE ACCOUNT A PATTERN DAY TRADER, WHICH IMPOSES A MINIMUM EQUITY REQUIREMENT AND MAY RESTRICT THE ACCOUNT FOR NINETY DAYS IF IT IS NOT MET. IN A CASH ACCOUNT, BUYING WITH PROCEEDS THAT HAVE NOT SETTLED AND SELLING BEFORE THEY DO MAY PRODUCE A GOOD-FAITH VIOLATION OR A FREERIDE VIOLATION, AND REPEATED VIOLATIONS MAY CAUSE THE BROKER TO RESTRICT THE ACCOUNT TO SETTLED FUNDS FOR NINETY DAYS.

These designations are made by the Broker under the rules applicable to it and not by the Company. The Service does not count day trades, does not track settlement status, and does not decline an Order Instruction because transmitting it would create a designation or a violation. A Strategy the User configured to trade frequently will keep trading, and a restriction imposed by a Broker may leave a Strategy unable to exit a position it has opened.

9. Options

9.1 Standardised options disclosure.

AN OPTION MAY EXPIRE WORTHLESS, AND A LONG OPTION POSITION MAY LOSE ONE HUNDRED PER CENT OF ITS COST. WRITING UNCOVERED OPTIONS EXPOSES THE WRITER TO POTENTIALLY UNLIMITED LOSS. BEFORE TRADING OPTIONS THE USER SHOULD READ THE STANDARDISED OPTIONS DISCLOSURE DOCUMENT, "CHARACTERISTICS AND RISKS OF STANDARDIZED OPTIONS", PUBLISHED BY THE OPTIONS CLEARING CORPORATION, OR THE EQUIVALENT DISCLOSURE REQUIRED IN THE USER’S JURISDICTION, WHICH THE USER’S BROKER IS OBLIGED TO PROVIDE.

That document is published by the Options Clearing Corporation at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document and the User should read it before trading options. A broker outside the United States will supply the equivalent disclosure required in its own jurisdiction.

9.2 Risks specific to options.

In addition to the risks of the underlying instrument, options carry the following risks:

  1. time decay: an option loses value as expiry approaches, other things being equal, and this accelerates near expiry;
  2. volatility: a position may lose money upon a change in implied volatility even where the underlying moves in the holder’s favour;
  3. leverage: a small movement in the underlying may produce a very large percentage movement in the option;
  4. liquidity: many series trade rarely, spreads may be wide, and a mid-price displayed within the Service is not necessarily a price at which the User can transact;
  5. early assignment: a short American-style option may be assigned at any time before expiry, including for dividend capture, leaving the writer with an unexpected position in the underlying and a corresponding margin requirement;
  6. exercise and expiry mechanics: automatic exercise thresholds, pin risk at a strike, and the interval between expiry and notification of assignment may leave the User exposed over a weekend;
  7. multi-leg risk: a spread may be entered or exited leg by leg, and a partially filled spread is a different position carrying a different risk profile from that intended; and
  8. settlement differences: cash-settled index options behave differently from physically settled equity options.

9.3 Same-day and near-dated expiries.

OPTIONS EXPIRING UPON THE SAME DAY OR THE FOLLOWING DAY ARE AMONG THE HIGHEST-RISK INSTRUMENTS AVAILABLE TO A RETAIL PARTICIPANT. THEIR VALUE CHANGES VIOLENTLY, THEY MAY BECOME WORTHLESS WITHIN MINUTES, GAMMA EXPOSURE NEAR THE STRIKE IS EXTREME, AND THERE IS NO TIME IN WHICH A POSITION MAY RECOVER. AUTOMATING THEM COMPRESSES EVERY OTHER RISK DISCLOSED IN THIS DOCUMENT INTO A SINGLE SESSION.

9.4 Expiry is not managed for the User.

THE USER MUST NOT ASSUME THAT THE SERVICE WILL CLOSE A POSITION, EXERCISE AN OPTION, DECLINE TO EXERCISE ONE, OR TAKE ANY OTHER ACTION AT OR BEFORE EXPIRY. WHERE ANY SUCH ACTION IS TAKEN IT IS NOT GUARANTEED, AND IT REMAINS SUBJECT TO THE BROKER’S CUT-OFF TIMES, THE BROKER’S EXERCISE-BY-EXCEPTION THRESHOLDS AND ITS TREATMENT OF ANY DO-NOT-EXERCISE INSTRUCTION. MOVEMENT IN THE UNDERLYING AFTER THE CLOSE MAY CHANGE WHETHER AN OPTION IS EXERCISED, AND ONE LEG OF A SPREAD MAY BE EXERCISED OR ASSIGNED WHILE THE OTHER EXPIRES, LEAVING THE USER WITH AN UNHEDGED POSITION IN THE UNDERLYING OVER A WEEKEND. MANAGING EXPIRY IS THE USER’S RESPONSIBILITY AND IS A MATTER BETWEEN THE USER AND THE BROKER.

10. Digital assets

10.1 Absence of protection.

Digital assets are highly volatile and, in many jurisdictions, are not regulated as securities and carry none of the protections applicable to a securities account. There is no deposit insurance, no investor-compensation scheme and, in most cases, no lender of last resort.

10.2 Specific risks.

  1. Markets trade continuously, including while the User is asleep and while equity markets are closed, and a Strategy may accumulate a substantial loss overnight.
  2. Prices differ between venues, and a price displayed within the Service may not be obtainable upon the venue at which the User transacts.
  3. Liquidity may vanish; order books thin during periods of stress and a stop may fill far from its trigger price.
  4. A venue may halt trading, halt withdrawals, be compromised, become insolvent or lose the User’s assets. Depending upon the venue’s terms, its custody arrangements and the law applicable to it, what the User holds may be a contractual claim against the venue rather than a proprietary interest in identifiable assets, and upon an insolvency the User may rank as an unsecured creditor.
  5. A token may lose all of its value permanently, may be delisted, may fork, or may be subject to a protocol change altering the nature of what is held.
  6. Stablecoins may lose, and have lost, their peg.
  7. Regulatory action may restrict, suspend or prohibit trading in an asset or upon a venue at short notice, including in the User’s country.
  8. The availability of a given asset or pair depends upon the venue and upon the User’s residence and may be withdrawn.

11. Margin, leverage and short selling

11.1 Margin.

TRADING UPON MARGIN MEANS THE USER MAY LOSE MORE THAN THE FUNDS IN THE ACCOUNT AND MAY BE REQUIRED TO DEPOSIT ADDITIONAL FUNDS AT SHORT NOTICE. A BROKER MAY LIQUIDATE POSITIONS WITHOUT CONTACTING THE USER, MAY SELECT WHICH POSITIONS TO LIQUIDATE, AND IS NOT OBLIGED TO ALLOW TIME IN WHICH TO MEET A MARGIN CALL. MARGIN REQUIREMENTS MAY BE INCREASED WITHOUT NOTICE, INCLUDING UPON POSITIONS ALREADY HELD.

11.2 Short selling.

A short position carries theoretically unlimited loss, the price of the instrument sold short having no ceiling. Borrowed stock may be recalled, compelling closure at an inopportune moment. Borrow fees may be substantial and may change daily. Short sales may be restricted or prohibited by a regulator with immediate effect.

11.3 The Company does not monitor margin.

The Company does not monitor the User’s margin, does not receive margin calls on the User’s behalf, and does not warn the User before a Broker liquidates. Margin is entirely a matter between the User and the Broker.

12. Order and execution risk

The Service transmits Order Instructions; a Broker executes them or does not. Between the triggering of a rule and the existence of a fill, the outcome may differ from that expected in the following respects:

  1. a market order fills at whatever price is then available, which in a fast or thin market may be far from the last price displayed;
  2. a limit order may never fill, leaving the User without the position intended or, more seriously, without the exit intended;
  3. a stop is a trigger and not a guarantee: once triggered it becomes a market or limit order and is subject to gaps, slippage and rejection;
  4. an order may be rejected by a Broker or a venue for reasons including buying power, permissions, price bands, position limits, symbol status and risk controls;
  5. an order may be partially filled, leaving a position of a size not intended;
  6. a duplicated Signal or a retry may produce a duplicated order;
  7. a cancellation or replacement may lose the race with a fill, so that the User is filled upon an order the User attempted to cancel; and
  8. the Service’s record of a position may briefly differ from the Broker’s, and the Broker’s record governs.

13. Technology, connectivity and system failure

13.1 Points of failure.

Every element of the chain between the User’s rule and the User’s Broker may fail: the User’s device and network connection, the Company’s hosting provider, the public internet, a data vendor, a message queue, a Broker’s interface and an exchange gateway. Failures are not always apparent as failures; a stream may cease without producing an error, and a component may return stale data in place of no data.

13.2 Consequences.

A failure may cause a Strategy not to enter, not to exit, to exit late, to act upon a stale price, or to act more than once. Sessions to certain Brokers expire and must be re-established, and where a Broker requires periodic re-authentication an expired session halts automated activity without notice.

13.3 Independent access to the Broker.

WHERE THE SERVICE IS UNAVAILABLE, THE USER’S POSITIONS REMAIN OPEN AND CONTINUE TO CARRY RISK. THE USER MUST BE ABLE TO CONTACT EACH BROKER WITHOUT THE SERVICE, THROUGH THAT BROKER’S OWN PLATFORM, APPLICATION OR TELEPHONE FACILITY, AND SHOULD ASCERTAIN HOW TO DO SO BEFORE THE NEED ARISES.

14. Market data

14.1 Accuracy.

Prices, quotes, bars, marks, option sensitivities, indicator values and analytics displayed within the Service are obtained from Brokers and third-party vendors, are not independently verified by the Company, and may be delayed, stale, revised, incomplete or incorrect. A mark for an illiquid option may be a model value rather than a tradable price. An unrealised profit and loss figure inherits every defect of the price from which it was computed.

14.2 Reconciliation.

The User should not treat a figure displayed within the Service as the price at which the User is able to transact, and should reconcile positions, balances and executions against the Broker’s own records, which are the official records.

15. Broker and counterparty risk

15.1 Assets are held at the Broker.

The User’s funds and assets are held at the User’s Broker and not by the Company. A Broker may fail, be suspended, be acquired, restrict the User’s account, alter its interface, alter its fees, or terminate its relationship with the User or with the Company. Any protection available in such an event derives from the Broker’s regulator and from any compensation scheme of which the Broker is a member, and not from the Company.

15.2 Integration is not diligence.

The Company selects Brokers for integration upon technical grounds. Integration does not constitute diligence, endorsement or any view as to a Broker’s financial soundness, and the User should form an independent view before depositing funds anywhere.

16. Simulated and paper trading

A demonstration or paper account, including KuantDemo, does not place capital at risk and does not reproduce a live market. Orders do not compete for liquidity, the User is not subject to real slippage or rejection, and the User does not experience the psychological pressure which alters conduct where real capital is at stake. Results obtained in Simulated Trading are not evidence of the results the same configuration would produce with live capital, and a Strategy which performs well in simulation frequently does not.

17. Costs and taxation

17.1 Costs.

Commissions, exchange and regulatory fees, spreads, financing, borrow costs, currency conversion and the Company’s own subscription fees each reduce the User’s return, and a Strategy which transacts frequently may be unprofitable after costs notwithstanding that it is profitable before them. Cost figures displayed within the Service are estimates save where obtained from a Broker’s own record.

17.2 Taxation.

Trading gives rise to tax consequences which differ by country, instrument, holding period and person, and which may arise in a year in which the User sustained a loss. Rules concerning wash sales, constructive sales, straddles, mark-to-market elections and the treatment of digital assets are complex. Figures reported by the Service as realised profit, loss or cost basis are for information only and do not constitute a tax record. The User should obtain professional advice.

18. Legal and regulatory risk

18.1 Regulatory change.

Rules change. A regulator may restrict an instrument, a strategy, a venue or a class of investor, in some cases with immediate effect and in some cases retroactively as to positions already held. The User’s ability to trade a given instrument depends upon the User’s residence, tax status, Broker permissions and investor classification, any of which may change.

18.2 The User’s compliance.

The User is responsible for compliance with the law applicable to the User, including any restriction arising from the User’s employment, professional obligations or access to material non-public information. The Company does not monitor the User’s trading for compliance and is not able to do so.

19. No advice; no guarantee of result

19.1 Regulatory status of the Company.

KuantTrade is not a broker or dealer, is not a registered investment adviser, is not an exchange and is not a custodian, and is not a member of FINRA, SIPC, the NFA or any equivalent body. Nothing within the Service constitutes investment advice or a recommendation, and no member of the Company’s personnel may exercise judgement in respect of the User’s positions. Certain features use data held in the User’s own Account to compose an answer to a request the User has made, as described in Sections 5.2b and 5.3b of the Terms of Service. The Company does not obtain or assess the User’s income, net worth, liabilities outside the connected account, investment experience, tax position, time horizon, objectives or risk tolerance, and conducts no suitability or appropriateness assessment.

19.2 No guarantee.

The Company guarantees no result. It does not guarantee that the User will realise a profit, will avoid a loss, will recover capital, or that any Strategy, template, ranking, backtest or Tool Output will perform in any particular manner. Any testimonial, case study or example result reflects the experience of one person, is not typical, and the User’s results will differ.

20. Acknowledgement

By accepting this Risk Disclosure Agreement and by using the Service, the User confirms that:

  1. the User has read and understood this document in its entirety;
  2. the User understands that the User may lose part or all of the funds in any connected account, and in certain positions more than that amount;
  3. the User trades for the User’s own account, upon the User’s own decisions, with funds the User can afford to lose;
  4. the User is responsible for every Strategy enabled, every drafted order confirmed, every automation setting adopted, every Signal source connected and every Connected Client authorised;
  5. the User will supervise the User’s automation and will maintain a means of contacting each Broker directly; and
  6. the User accepts the risks disclosed in this document and does not rely upon the Company for advice of any description.

Enquiries concerning this document may be addressed to legal@kuanttrade.com. The full notice address of the Company is published in the Terms of Service.

Published at https://kuanttrade.com. Version 2026-08-28r2.