Risk Disclosure

This Risk Disclosure (“Risk Disclosure”) explains the significant risks associated with participating in WhitePips’s products and services, including evaluation programs, instant funding programs, educational content, and any related services (collectively, the “Services”).

Trading financial markets involves substantial risk. Before purchasing or participating in any WhitePips product, you should carefully consider whether such participation is appropriate in light of your financial circumstances, experience, objectives, and risk tolerance.

By accessing or using the Services, you acknowledge that you have read, understood, and accepted the risks described in this Risk Disclosure.

WhitePips does not provide:

1. investment advice;
2. financial advice;
3. portfolio management services;
4. brokerage services;
5. wealth management services;
6. tax advice;
7. legal advice; or
8. personalized trading recommendations.

Any information provided by WhitePips, including educational materials, webinars, articles, videos, market commentary, or customer support communications, is intended solely for general informational or educational purposes.

You remain solely responsible for your own trading decisions.

WhitePips operates proprietary trading evaluation programs and related services.

Unless expressly stated otherwise:

1. participation is not an investment;
2. participation does not create a brokerage relationship;
3. participation does not establish an employment relationship;
4. participation does not create a fiduciary relationship; and
5. participation does not constitute financial advisory services.

Purchasing a challenge or Instant Account represents payment for access to a proprietary evaluation or related service, subject to the applicable product terms.

Repeat purchases add up. Buying further Evaluations, resets or add-ons after a breach increases the total you spend. Bundle discounts and promotions lower the price of each account but increase the amount you commit at once.

No return of the fee on a breach. Refunds are available only in the limited cases in the Refund Policy. The fee refund paid with a first payout on eligible plans depends on reaching and being paid that payout.

Financial markets are inherently unpredictable.

Prices may change rapidly due to:

1. economic events;
2. political developments;
3. central bank decisions;
4. market sentiment;
5. corporate announcements;
6. unexpected global events;
7. changes in liquidity; and
8. volatility.

No trading strategy can eliminate market risk.

Many financial instruments, including Contracts for Difference (CFDs), futures, foreign exchange, commodities, indices, and other leveraged products, involve significant risk.

Leverage can magnify both gains and losses.

Small market movements may result in substantial changes in trading performance.

Participants should fully understand the risks associated with leveraged trading before participating in any evaluation program.

Leverage and limits on WhitePips accounts. CFD and Instant Trading Accounts carry a maximum leverage published in the Plan Specification, which may be lower once an account is funded. Futures Trading Accounts are limited by a maximum number of contracts instead. These are ceilings, not recommendations: trading at the maximum makes it much more likely that a loss limit is reached.

No ownership. A CFD is a contract on the difference in price. You never own the currency, index, commodity, metal or cryptocurrency concerned, and you have no rights attached to it.

Costs. Spreads, commissions and swaps are charged on the simulated account and count against its balance, equity and loss limits. Swaps applied at the daily rollover can be charged on positions held overnight and over weekends.

Pricing. Simulated CFD prices are derived from market data and may differ from prices quoted by other providers or on exchanges, especially in fast markets, at the open and close, and in less liquid instruments.

Crypto CFDs. Cryptocurrency CFDs can move very sharply, including outside traditional market hours, and their prices can gap between sessions.

Weekend and rollover gaps. Where a Plan permits holding positions over weekends or overnight, prices can reopen far from where they closed, and a stop order may be filled at a much worse price.

Contract size. Each futures contract has a fixed size and tick value set by the exchange. A move of a few ticks on several contracts can produce a large simulated loss, and ten micro contracts carry the same exposure as one mini.

End-of-day trailing drawdown. On plans that use it, the drawdown floor moves up with each session’s closing balance and never moves down, so profits taken earlier can reduce the room left for later losses.

Sessions, breaks and expiry. Futures trade in sessions with daily maintenance breaks, weekend closures and exchange holidays. Contracts expire, liquidity moves between contract months, and positions may need to be closed or rolled before expiry.

Price limits and halts. Exchanges may apply price limits or halt trading. Positions may then be impossible to close at the price you expect.

Market data. Futures accounts rely on a dxFeed market data connection through Volumetrica. Delays, gaps or errors in that data can affect charts, order flow views and fills.

Gaps. Prices can jump from one level to another without trading at the prices in between, for example after news, at the market open, or after a weekend. A position can then pass through a loss limit before it can be closed.

Slippage. In fast or thin markets an order may be filled at a worse price than the one requested. Slippage counts towards loss limits and drawdown like any other loss.

Liquidity. At times of low liquidity, spreads widen and larger orders may be filled at several prices or not at all.

Stops are not guarantees. A stop-loss order does not guarantee that a loss will be limited to a particular amount.

High-impact economic releases, central bank decisions and unexpected events can cause sudden spikes, gaps, widened spreads and rejected orders.

On plans or stages where news trading is not permitted, trades around those events may be excluded or treated as a breach under the Trading Rules. On plans where it is permitted, the risks above still apply in full.

Floating losses count. On CFD and Instant accounts, loss limits are measured on equity, including losses on open positions. A position that is later profitable can still have breached the account while it was in loss.

The daily limit starts from the higher figure. The daily loss limit is measured from the higher of the day’s starting balance or starting equity, so a day that begins with profits on open positions does not give you a larger allowance.

Trailing drawdown tightens. A trailing drawdown follows the account’s highest point, so the amount you can lose shrinks relative to the starting balance as the account grows.

Warnings and strikes build up. Soft breaches, warnings and strikes accumulate, and reaching the limit for them closes the account even if no loss limit was hit.

Consistency and payout conditions. Consistency rules, minimum profitable days, buffer balances, profit goals and payout caps can delay or limit a payout even when an account is in profit.

Certain WhitePips products use simulated or evaluation trading environments. All WhitePips Trading Accounts, evaluation and funded, are simulated.

Simulated trading differs from live market trading in several respects, including:

1. execution conditions;
2. market liquidity;
3. slippage;
4. order fills;
5. latency;
6. pricing behaviour; and
7. platform functionality.

Simulated results may not accurately reflect actual market conditions or future trading performance.

Past simulated performance is not indicative of future results.

Your orders do not reach the market. Orders on a simulated account do not interact with a real order book, so they have no effect on market prices, and fills may be better or worse than a live order of the same size would receive.

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading.

Because the trades reflected in a simulated environment have not been executed with real capital, the results may have under-compensated or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity.

Simulated trading programs in general are also designed with the benefit of hindsight.

No representation is being made that any account will or is likely to achieve profits or losses similar to any results shown or achieved in a simulated environment.

Participation in a WhitePips evaluation does not guarantee funding, payouts, or any level of trading performance.

Successfully completing an evaluation does not guarantee:

1. a funded account;
2. continued participation;
3. profit sharing;
4. payout eligibility;
5. ongoing account access; or
6. future opportunities.

Progression through WhitePips’s programs remains subject to compliance with all applicable agreements, policies, verification requirements, and operational procedures.

Reviews can change the outcome. Evaluations, funded accounts and payout requests may be reviewed. A review can find a breach or prohibited conduct after an objective appears to have been met, and the result can be that an account is not funded, a payout is reduced or refused, or a paid reward must be repaid, as described in the Terms of Service and the Payout Policy.

Past performance does not guarantee future performance.

Historical results, hypothetical examples, educational demonstrations, testimonials, or simulated performance should never be interpreted as guarantees of future success.

Individual results vary significantly.

Participation in the Services depends on technology that may occasionally experience interruptions.

Potential issues include:

1. internet outages;
2. hardware failures;
3. software defects;
4. system maintenance;
5. cybersecurity incidents;
6. third-party service interruptions;
7. data transmission delays; and
8. platform availability issues.

WhitePips cannot guarantee uninterrupted access to its Services.

Platforms and data feeds. MetaTrader 5, Volumetrica and the dxFeed data connection can freeze, disconnect, lag or show incorrect prices. Your own device, connection, virtual server or software can fail too. Any of these can stop you opening or closing a position at the moment you intend, and losses that result count towards your limits.

Price corrections. WhitePips may correct erroneous prices and calculations and adjust or cancel affected trades, as described in the Terms of Service. A correction can remove simulated profit as well as losses.

WhitePips relies on third-party service providers for certain aspects of its operations.

These providers may include:

1. trading platform providers;
2. market data providers;
3. payment processors;
4. banks and payout providers;
5. identity verification providers;
6. cloud hosting providers;
7. customer support platforms;
8. analytics providers; and
9. security providers.

WhitePips is not responsible for failures, interruptions, or delays caused by third-party providers beyond its reasonable control.

Timing is not promised. We do not promise when a bank transfer will arrive. Banks’ processing times, cut-off times, weekends, public holidays in any country involved, and compliance checks all affect it.

Fees and currency conversion. Intermediary, correspondent and receiving banks may deduct fees, and your bank may convert the payment into another currency at its own rate. The amount that reaches your account can therefore be less than the amount sent.

Incorrect details. If the bank details you give are wrong, the transfer can be delayed, returned with fees deducted, or credited to the wrong account and be difficult or impossible to recover.

Returned or rejected transfers. Banks can reject or return a transfer, for example because the account name does not match, the account is closed, or the payment fails their screening. Re-sending takes more time and may involve further fees.

Screening and information requests. Banks and payment providers screen payments for sanctions and anti-money laundering purposes. They may hold a payment, ask for information about you or the source of the payment, or refuse to process it.

Volatility. The value of BTC and ETH can change significantly between the time a payout is calculated, the time it is sent, and the time you convert it. Stablecoins such as USDT and USDC aim to hold a stable value against the US dollar but can lose that link, be frozen by their issuer, or be affected by the failure of their issuer or reserves.

Wrong network or address. Each coin can only be paid on the networks shown in the dashboard. Sending to an address on a different network, or to an address that does not support the asset, can result in permanent loss.

Wallet security. If you lose access to your wallet, its private keys or recovery phrase, or your exchange account is compromised or closed, the funds may be lost.

Network fees and congestion. Network fees vary and may reduce the amount received. Congestion can delay a transfer. When a crypto payout arrives depends on network conditions and is not guaranteed.

Exchanges and custodians. Exchanges and custodial wallets can suspend withdrawals, freeze accounts, fail or become insolvent.

Legal treatment. The law and tax treatment of cryptocurrency differ between countries and can change. Holding, receiving or converting cryptocurrency may be restricted where you live.

Store Credit has no cash value. It can only be used towards WhitePips products, cannot be withdrawn or exchanged for a bank or crypto payout, and may be lost if your Account is closed for a breach. Choosing Store Credit as a payout destination is a choice to receive value that depends on continuing to use WhitePips.

Payouts depend on WhitePips. Payouts are paid by WhitePips from its own resources under the Payout Policy. They are not held in a segregated account, are not protected by any compensation or guarantee scheme, and depend on WhitePips continuing to operate and being able to pay.

Business changes. WhitePips may change, suspend or discontinue products, Trading Platforms, payment methods or payout methods, as described in the Terms of Service.

Financial laws and regulations may change over time.

Changes in applicable legislation, taxation, sanctions, licensing requirements, or regulatory guidance may affect the availability or operation of WhitePips’s Services.

WhitePips reserves the right to modify, suspend, or discontinue Services where reasonably necessary to comply with applicable legal or regulatory requirements.

Your local law. It is your responsibility to check whether taking part in the Services, receiving payouts and holding cryptocurrency are lawful where you live and where you are.

You are solely responsible for any tax, reporting or social contribution that arises from payouts, Store Credit, fee refunds, or gains or losses on converting cryptocurrency, in every country where you are liable. WhitePips does not give tax advice and does not withhold tax for you unless the law requires it. Seek independent tax advice where needed.

WhitePips does not offer or provide the Services to residents or nationals of, or persons located in, the following restricted jurisdictions: Cuba, Iran, Iraq, Myanmar, North Korea, Poland, Russia, Sudan and United States of America. The following countries and regions are also restricted at sign-up and on the Website: Afghanistan, Belarus, Crimea, Donetsk, Libya, Luhansk, Somalia, Syria and Venezuela.

WhitePips also treats as restricted any country or territory that is subject to comprehensive sanctions administered by the United States Office of Foreign Assets Control (OFAC), the European Union, the United Kingdom, or the United Nations, and any jurisdiction identified by the Financial Action Task Force (FATF) as a high-risk jurisdiction subject to a call for action.

The list of restricted jurisdictions may be updated from time to time to reflect applicable laws, sanctions, regulatory requirements, and WhitePips’s internal compliance policies, without prior notice. The current list is always available in the Restricted Jurisdictions policy.

Attempting to access or use the Services from a restricted jurisdiction, including through the use of a VPN, proxy, or any other means of concealing your actual location, constitutes a material breach of the WhitePips Terms of Service and of this document.

WhitePips may decline to open, and may suspend, restrict, or terminate, any Account where it determines that these restrictions apply. Eligibility is verified at signup and again during identity (KYC) verification.

Participation in WhitePips’s Services may be affected by operational risks including:

1. human error;
2. system maintenance;
3. internal process failures;
4. unexpected technical events;
5. business continuity events; and
6. force majeure circumstances.

Although WhitePips implements reasonable operational safeguards, not all risks can be eliminated.

Each participant is solely responsible for:

1. understanding the applicable product rules;
2. managing their own trading decisions;
3. protecting account credentials;
4. complying with all applicable laws;
5. reviewing all legal documentation before participating;
6. providing correct bank account and wallet details for payouts; and
7. ensuring participation is suitable for their individual circumstances.

Participants should not rely solely on information provided by WhitePips when making financial or trading decisions.

Participation in WhitePips’s Services may not be appropriate for every individual.

You should carefully assess:

1. your financial situation;
2. your trading experience;
3. your knowledge of financial markets;
4. your personal objectives; and
5. your ability to understand the risks involved.

Where appropriate, you should seek independent professional financial, legal, tax, or accounting advice before participating.

No statement made by WhitePips, whether through its Website, customer support, educational content, social media, marketing materials, webinars, or other communications, should be interpreted as a guarantee of:

1. profitability;
2. trading success;
3. funding approval;
4. future payouts;
5. payout timing;
6. market performance; or
7. financial outcomes.

Participants should conduct their own independent assessment before making any purchasing or trading-related decisions.

WhitePips shall not be responsible for delays, interruptions, or failures resulting from events beyond its reasonable control, including:

1. natural disasters;
2. war;
3. terrorism;
4. civil unrest;
5. government actions;
6. pandemics;
7. utility failures;
8. internet disruptions;
9. cybersecurity incidents;
10. failures of banks, payment networks or blockchain networks; or
11. failures of third-party providers.

Nothing in this Risk Disclosure limits or excludes liability where such limitation or exclusion is prohibited by applicable law.

To the fullest extent permitted by law, WhitePips shall not be liable for indirect, incidental, consequential, exemplary, special, or punitive damages arising from participation in the Services.

Participants acknowledge that they voluntarily assume the risks associated with participation.

Full terms. The limits on WhitePips’s liability are set out in full in Terms of Service, section 27 (Limitation of liability).

This Risk Disclosure should be read together with:

1. the Terms of Service;
2. the Privacy Policy and the Cookie Policy;
3. the anti-money laundering and verification sections of the Terms of Service (the AML & KYC Policy);
4. the Plan Specification of your account and the Trading Rules (the CFDs Challenge Terms, Futures Challenge Terms and Instant Account Terms);
5. the Payout Policy and the Refund Policy;
6. the Restricted Jurisdictions policy;
7. the partner terms given to approved Partners (the Partners Terms & Conditions); and
8. any additional legal notices published by WhitePips.

WhitePips may amend this Risk Disclosure from time to time to reflect:

1. changes in our Services;
2. legal or regulatory developments;
3. operational changes;
4. industry standards; or
5. business requirements.

The latest version will always be published on the WhitePips website.

If you have any questions regarding this Risk Disclosure, please contact WhitePips at [email protected].