LEGAL & TRADING RISK DISCLAIMER

CYBER WOLFDOG TRADING

LEGAL & TRADING RISK DISCLAIMER

Cyber Wolfdog Trading — part of Chiwi’s IT

Version 1.0
Last updated: 27 September 2026

This version applies from its date of publication.

This Legal & Trading Risk Disclaimer applies to information, technical services, Expert Advisors, setfiles, configurations, signals, research, educational content, Technical Managed Services and related services provided or made available by Cyber Wolfdog Trading (“CWDT”).

By accessing, using or relying on CWDT content, services, technical configurations or information, you acknowledge the risks and limitations described in this Disclaimer.

This Disclaimer should be read together with the applicable CWDT Service Terms, Privacy Policy, Affiliate, Broker & Partner Disclosure and any other applicable terms or agreements.

1. GENERAL RISK WARNING

Trading financial markets involves substantial risk.

Trading may result in partial or complete loss of trading capital.

Foreign exchange, CFDs, cryptocurrencies, shares, indices, commodities and other financial instruments may experience rapid and substantial price movements.

Market conditions can change without warning.

Automated trading does not remove these risks.

No trading method, Expert Advisor, strategy, indicator, signal, setfile, configuration, broker, trading platform or technical management process can guarantee profitability or prevent losses.

Clients remain responsible for understanding the risks associated with trading and for deciding whether trading is appropriate for their own circumstances.

2. NO GUARANTEED RETURNS

CWDT does not guarantee:

  • profits;

  • returns;

  • account growth;

  • recovery from drawdown;

  • avoidance of losses;

  • maximum drawdown levels;

  • win rates;

  • monthly or annual performance;

  • continued historical performance;

  • future suitability of any trading system.

Any performance objective, expectation, estimate, example or historical result must not be interpreted as a promise or guarantee.

Trading results may differ materially from expectations.

3. PAST PERFORMANCE

Past performance is not a reliable indicator of future results.

A strategy, Expert Advisor, account, signal or configuration that previously performed well may perform differently in future market conditions.

Historical profitability does not guarantee future profitability.

Past results may have occurred under:

  • different market conditions;

  • different volatility;

  • different spreads;

  • different broker conditions;

  • different leverage;

  • different liquidity;

  • different execution quality;

  • different software versions;

  • different setfiles;

  • different account sizes or trading environments.

Historical results must therefore always be considered within their original context.

4. BACKTESTS

Backtests are simulations based on historical market data.

They are useful research tools but do not reproduce all conditions of live trading.

Backtest results may be affected by factors including:

  • data quality;

  • modelling quality;

  • historical tick data;

  • spread assumptions;

  • commissions;

  • swaps;

  • execution assumptions;

  • slippage;

  • liquidity;

  • latency;

  • broker specifications;

  • software settings;

  • test period;

  • optimisation methods.

A profitable backtest does not guarantee profitable live trading.

CWDT may use backtesting as part of its research and evaluation process, but backtesting is only one component of a broader testing process.

5. FORWARD TESTS, DEMO TESTS AND STRESS TESTS

Forward testing, Demo testing and stress testing may provide additional information about how an Expert Advisor, strategy or configuration behaves.

However, these tests also have limitations.

Demo environments may differ from Live environments in areas such as:

  • execution;

  • spreads;

  • slippage;

  • liquidity;

  • order fills;

  • latency;

  • broker infrastructure;

  • market depth.

Stress tests may examine selected adverse conditions but cannot simulate every possible future event.

Successful Demo or forward testing therefore does not guarantee successful Live performance.

6. EXPERT ADVISORS AND AUTOMATED TRADING

Expert Advisors are automated software systems.

They can open, modify and close positions according to programmed logic.

Automated trading systems can experience losses.

They may also behave differently when affected by:

  • unusual volatility;

  • gaps;

  • news events;

  • liquidity changes;

  • widening spreads;

  • execution delays;

  • broker restrictions;

  • MetaTrader changes;

  • software updates;

  • VPS interruptions;

  • internet problems;

  • coding errors;

  • third-party failures;

  • changed market behaviour.

An Expert Advisor should never be considered risk-free.

7. CWDT SETFILES AND CONFIGURATIONS

CWDT may create, modify, select, optimise or technically configure setfiles and other Expert Advisor settings.

These configurations are intended for use within particular technical environments and under particular risk assumptions.

A CWDT configuration does not guarantee profitability.

Results may change when any relevant factor changes, including:

  • broker;

  • account type;

  • leverage;

  • balance;

  • equity;

  • lot sizing;

  • symbol specifications;

  • spread;

  • commission;

  • execution;

  • VPS environment;

  • EA version;

  • MetaTrader version;

  • market conditions.

CWDT configurations should not be assumed to be universally suitable for every trading account or environment.

8. SELLER-PROVIDED SETFILES

Some Expert Advisors may be supplied with original configurations or setfiles created by the developer, seller or another third party.

These third-party configurations remain subject to the limitations and risks associated with the underlying Expert Advisor and market conditions.

CWDT does not guarantee the future performance of seller-provided settings.

Where third-party configurations are used after the end of CWDT Technical Managed Services, the

Client is responsible for performing appropriate:

  • backtesting;

  • forward testing;

  • stress testing;

  • Demo testing;

  • suitability assessment.

9. TRADING SIGNALS

CWDT may provide or make available trading signals.

Trading signals are general informational content and are not tailored to the circumstances of any individual Client.

Trading signals are not guarantees that a trade will be profitable.

Signal results can be affected by:

  • entry timing;

  • execution delay;

  • broker differences;

  • spreads;

  • slippage;

  • position sizing;

  • account leverage;

  • market movement between publication and execution.

Clients remain responsible for deciding whether and how a signal is used.

10. WATCHLISTS, MARKET INFORMATION AND RESEARCH

CWDT may provide market observations, watchlists, technical analysis, research, commentary or informational updates.

Such information is provided for educational and informational purposes.

Market information may become outdated rapidly.

It may also contain:

  • incomplete information;

  • delayed information;

  • technical assumptions;

  • subjective interpretation;

  • estimates.

Users should independently verify information before making trading decisions.

11. EDUCATIONAL CONTENT

Articles, videos, messages, social-media content, guides, eBooks, explanations, research and other educational materials made available by CWDT are intended for educational and informational purposes.

Educational content does not guarantee trading success.

It should not be interpreted as personalised financial or investment advice.

12. CWDT TECHNICAL MANAGED SERVICES

CWDT Technical Managed Services are technical services.

Depending on the agreed Membership Level and environment, CWDT may perform technical work involving:

  • VPS environments;

  • MT5 terminals;

  • Expert Advisors;

  • setfiles;

  • configurations;

  • monitoring;

  • maintenance;

  • updates;

  • technical troubleshooting;

  • broker-environment compatibility;

  • technical risk controls.

Technical management does not mean that CWDT guarantees trading performance.

CWDT does not guarantee that technical intervention will prevent trading losses.

13. CLIENT APPROVAL OF MATERIAL RISK CHANGES

Material changes affecting the agreed trading risk profile require Client approval.

This includes material changes to matters such as:

  • lot size;

  • leverage where it affects the agreed risk profile;

  • risk settings;

  • material trading parameters;

  • active trading strategy.

Routine technical maintenance and technical work do not require separate approval each time.

Client approval of a risk change does not guarantee that the resulting configuration will be profitable.

14. EMERGENCY PROTECTIVE ACTION

In circumstances where CWDT reasonably considers urgent technical or protective action necessary, CWDT may temporarily:

  • disable an Expert Advisor;

  • prevent new automated trades;

  • pause automated trading;

  • apply another temporary technical protective measure.

This may occur without prior Client approval where delay could materially increase technical or trading risk.

Where practicable, the Client will be informed as soon as reasonably possible.

Emergency protective action does not authorise CWDT to permanently change the Client’s agreed risk profile without the required approval.

Emergency intervention also does not guarantee that losses will be prevented.

15. TECHNICAL MONITORING IS NOT CONTINUOUS 24/7 HUMAN MONITORING

CWDT may perform recurring technical monitoring and maintenance.

However, CWDT does not provide guaranteed continuous 24-hour human monitoring of every Client environment unless this has been explicitly agreed separately in writing.

Messages may be sent at any time, but immediate human response is not guaranteed.

Serious technical incidents may result in action outside normal support hours where practicable.

Automated systems can also experience events between monitoring moments.

16. BROKER AND EXECUTION RISK

Trading performance can be materially affected by the broker and trading environment.

Relevant factors may include:

  • spreads;

  • commissions;

  • swaps;

  • slippage;

  • latency;

  • execution speed;

  • liquidity;

  • rejected orders;

  • requotes;

  • order-fill policy;

  • symbol specifications;

  • leverage;

  • margin rules;

  • stop levels;

  • trading hours;

  • server stability.

CWDT cannot control a broker’s infrastructure, execution or commercial decisions.

17. SUPPORTED AND UNSUPPORTED BROKER ENVIRONMENTS

CWDT may support selected broker environments for Technical Managed Services.

Support means that CWDT has chosen to work technically with that environment.

It does not mean that CWDT guarantees:

  • broker solvency;

  • execution quality;

  • future regulatory status;

  • uninterrupted broker service;

  • withdrawals;

  • deposits;

  • continued availability;

  • future trading conditions.

Use of an unsupported or materially changed broker environment may affect compatibility with CWDT Expert Advisors or configurations.

18. LEVERAGE RISK

Leverage can significantly magnify both gains and losses.

Higher leverage can increase:

  • exposure;

  • drawdown;

  • margin sensitivity;

  • liquidation risk;

  • speed of loss.

Lower leverage can also change how certain strategies behave by affecting available margin and trading capacity.

Clients should understand the leverage settings of their accounts.

19. MARKET RISK

Financial markets may move rapidly and unexpectedly.

Market risk can be influenced by events including:

  • central-bank decisions;

  • economic data;

  • geopolitical developments;

  • elections;

  • wars;

  • trade disputes;

  • natural disasters;

  • sudden liquidity changes;

  • market closures;

  • unexpected news;

  • flash crashes.

Automated systems cannot guarantee protection against extraordinary market events.

20. DRAWDOWN

Drawdown is a normal risk characteristic of trading.

A strategy can experience a drawdown even where its longer-term historical performance has been profitable.

Drawdown can become larger than previously observed.

Historical maximum drawdown does not represent a guaranteed future maximum.

Clients should maintain sufficient risk tolerance and capital reserves for the possibility of larger-than-expected losses.

21. DIVERSIFICATION

Using multiple Expert Advisors, strategies, symbols, brokers or trading approaches may reduce concentration in some circumstances.

However, diversification does not eliminate risk.

Different strategies may become correlated during volatile markets.

Several systems may experience losses at the same time.

Diversification must never be interpreted as a guarantee against drawdown or loss.

22. THIRD-PARTY SYSTEMS

CWDT services depend partly on systems supplied by third parties.

These may include:

  • brokers;

  • hosting providers;

  • VPS providers;

  • MetaTrader;

  • Expert Advisor developers;

  • software vendors;

  • payment providers;

  • data providers;

  • internet service providers.

CWDT does not control every third-party system.

Third-party failures can affect CWDT services or trading environments.

23. VPS AND INTERNET RISK

A VPS or remotely hosted server may experience:

  • outages;

  • latency;

  • software failure;

  • connectivity loss;

  • hardware failure;

  • resource exhaustion;

  • operating-system issues;

  • provider maintenance;

  • cyber incidents.

Internet connectivity can also fail between systems.

No VPS or hosting environment can be guaranteed to remain available without interruption.

24. SOFTWARE UPDATES AND COMPATIBILITY

Trading environments may be affected by updates to:

  • MetaTrader;

  • Expert Advisors;

  • Windows;

  • VPS systems;

  • broker software;

  • libraries;

  • third-party applications.

An update may change compatibility or behaviour.

CWDT may need to test, delay, modify or technically manage an update where appropriate.

There is no guarantee that third-party software will remain compatible indefinitely.

25. CLIENT CHANGES AND INTERFERENCE

Clients using CWDT Technical Managed Services should not independently alter managed configurations unless agreed with CWDT.

Changes can affect:

  • risk;

  • trading logic;

  • lot sizing;

  • Expert Advisor operation;

  • setfiles;

  • terminal configuration;

  • open positions;

  • monitoring.

Manual interference with positions or managed trading logic may produce results that differ materially from the intended configuration.

To the extent permitted by law, CWDT cannot be responsible for consequences caused by unauthorised or uncoordinated Client changes.

26. DEPOSITS AND WITHDRAWALS

Clients remain responsible for funding and withdrawing money from their own broker accounts.

CWDT does not make deposits or withdrawals on behalf of Clients.

CWDT does not control:

  • broker withdrawal processing;

  • banking delays;

  • payment-provider delays;

  • compliance reviews;

  • KYC reviews;

  • broker withdrawal restrictions.

27. NO CUSTODY OF CLIENT FUNDS

CWDT does not receive, hold, safeguard, route, transfer, deposit or withdraw Client trading funds through CWDT or Chiwi’s IT bank or payment accounts as part of CWDT Technical Managed Services.

Trading funds remain within accounts held in the Client’s own name with the applicable provider.

28. BROKER CLIENT-PORTAL ACCESS

In certain Technical Managed Services, CWDT may require limited access to a broker Client portal for technical account-management purposes.

This can include technical actions relating to:

  • leverage configuration, subject to Section 13 of this Disclaimer;

  • account configuration;

  • base currency;

  • creation or configuration of Demo or Live trading accounts;

  • technical account information.

Such access is not intended to authorise CWDT to perform deposits or withdrawals.

KYC and other personal regulatory obligations remain the Client’s responsibility.

29. NO GUARANTEE FROM TECHNICAL INTERVENTION

Technical intervention may reduce certain technical risks.

It cannot eliminate trading risk.

Actions such as:

  • pausing an EA;

  • disabling new trades;

  • restarting a terminal;

  • correcting a configuration;

  • changing a technical setting;

  • restoring connectivity;

cannot guarantee that losses will be prevented.

Market prices may continue moving while intervention is taking place.

30. INDIVIDUAL RESPONSIBILITY

Every Client remains responsible for deciding:

  • whether to trade;

  • how much capital to allocate;

  • whether a trading strategy is suitable;

  • whether the risks are acceptable;

  • whether their financial circumstances allow them to bear potential losses.

Clients should never trade with money they cannot afford to lose.

Clients remain responsible for their personal financial decisions.

31. NO PERSONAL FINANCIAL, LEGAL OR TAX ADVICE

CWDT content, including educational material, signals, watchlists and market information, does not constitute personalised financial, investment, legal or tax advice.

Clients should consult appropriately qualified professionals where personal financial, legal, regulatory or tax advice is required.

Nothing in this Section is intended to determine the legal or regulatory classification of CWDT Technical Managed Services.

32. AFFILIATE AND COMMERCIAL RELATIONSHIPS

CWDT may have affiliate, referral, commercial or partner relationships with third-party providers.

These relationships do not guarantee the quality, performance, safety or profitability of a third-party product or service.

Commercial compensation does not remove trading risk.

Further information is provided separately in the CWDT Affiliate, Broker & Partner Disclosure.

33. NO RELIANCE ON A SINGLE SOURCE

Clients should not rely solely on CWDT content, research, signals, Expert Advisors or technical services when making financial decisions.

Clients should perform their own research and, where appropriate, seek independent professional advice.

34. CHANGES IN MARKET AND REGULATORY CONDITIONS

Financial markets, technology and legal or regulatory requirements can change.

A product, service, broker, strategy or technical environment that is available today may:

  • change;

  • become restricted;

  • become unavailable;

  • become incompatible;

  • become unsuitable;

  • become subject to new legal or regulatory requirements.

CWDT may therefore need to modify or discontinue certain services or technical arrangements where reasonably necessary.

35. LIMITATION OF THIS DISCLAIMER

This Disclaimer describes important trading and technical risks but cannot identify every possible risk.

Financial markets and technical environments can produce circumstances that cannot reasonably be predicted in advance.

Nothing in this Disclaimer excludes or limits rights or liabilities that cannot lawfully be excluded or limited under applicable law.

36. RELATIONSHIP WITH CWDT SERVICE TERMS

This Disclaimer should be read together with the applicable CWDT Service Terms — Memberships, Technical Managed Services & VPS Startup Service.

The Service Terms remain the primary contractual document governing the CWDT service relationship.

This Disclaimer explains important trading, performance and technical-risk limitations connected with those services.

Where a specific written agreement applies to a Client service, that agreement must also be taken into account.

37. CONTACT

Questions regarding this Legal & Trading Risk Disclaimer or CWDT services may be sent to:

Cyber Wolfdog Trading / Chiwi’s IT

Email:
info@cyberwolfdogtrading.com

Postal address:
P.O. Box 6
4715 ZG Rucphen
The Netherlands

Related Legal Documents

Legal Information — Cyber Wolfdog Trading
https://ebooks.cyberwolfdogtrading.com/legal

Privacy Policy — Cyber Wolfdog Trading
https://ebooks.cyberwolfdogtrading.com/privacy-policy

CWDT Service Terms — Memberships, Technical Managed Services & VPS Startup Service
https://ebooks.cyberwolfdogtrading.com/service-terms

Legal & Trading Risk Disclaimer
https://ebooks.cyberwolfdogtrading.com/risk-disclaimer

CWDT Affiliate, Broker & Partner Disclosure
https://ebooks.cyberwolfdogtrading.com/affiliate-disclosure

General Conditions of Sale — Digital eBooks
https://ebooks.cyberwolfdogtrading.com/ebook-terms

Clients and users are encouraged to read the applicable legal documents before purchasing, subscribing to or using CWDT products or services.

© Cyber Wolfdog Trading / Chiwi’s IT

Trading involves risk.

Always perform your own research (DYOR), apply appropriate personal risk management and test automated trading systems on a Demo account before considering Live trading.