Important information about the risks involved in trading financial instruments.
Last updated: November 13, 2025
Trading foreign exchange (forex), commodities, indices, and other financial instruments involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is appropriate for you in light of your financial condition and risk tolerance.
You may lose some or all of your initial investment. Only trade with money you can afford to lose.
Understanding our refund policy is important before participating in our evaluation program. Below is a summary of refund eligibility for our services.
| Service | Refund Eligibility | Conditions |
|---|---|---|
| Challenge Fees ($99-$499) | Non-Refundable | Once evaluation begins |
| Technical Issues | Refundable | Within 30 days, technical problems prevent evaluation |
| Account Never Used | Refundable | Within 24 hours of purchase, no trades executed |
| Payment Processing Errors | Refundable | Duplicate charges or processing errors |
Our evaluation program and funded accounts use leverage, which can work against you as well as for you. The use of leverage can lead to large losses as well as gains.
Financial markets are volatile and can move rapidly in response to news events, economic data, and geopolitical developments.
Trading depends on technology and internet connectivity. Technical issues can affect your ability to execute trades.
Waterfall Markets is not responsible for technology failures that prevent trade execution.
Trading is conducted through third-party platforms (OmegaTrader, TradeLocker). These platforms have their own risks and limitations.
Trading involves counterparty risk. Brokers and liquidity providers may face financial difficulties.
Financial markets are subject to regulation and legal changes that can affect trading conditions.
Past performance of traders or trading strategies does not guarantee future results. Trading involves uncertainty and there are no guaranteed outcomes.
Past performance does not guarantee future results. All trading involves risk of loss.
Waterfall Markets does not provide investment advice, recommendations, or analysis. All trading decisions are made by you alone.
Waterfall Markets absorbs all trading losses on funded accounts. However, accounts may be terminated for rule violations or other reasons.
The two-phase evaluation process is designed to test trading consistency, but market conditions can affect evaluation outcomes.
Funded traders receive 80% profit share, but payouts are subject to various conditions and risks.
Waterfall Markets shall not be liable for delays or failures caused by events beyond our reasonable control.
Such events include but are not limited to: natural disasters, wars, terrorist acts, government actions, strikes, power failures, and internet or telecommunications failures.
Any performance results shown are hypothetical and for illustrative purposes only. They do not represent actual trading results and do not guarantee future performance.
Information from third-party sources is provided for general information purposes only. We do not endorse or guarantee the accuracy of such information.
Educational materials provided are for informational purposes only and do not constitute trading advice or recommendations.
If you have questions about these risks or need clarification, please contact us:
Risk Warning: Trading involves substantial risk of loss and is not suitable for all investors. Only trade with money you can afford to lose. Past performance does not guarantee future results.
By participating in Waterfall Markets programs, you acknowledge that you have read, understood, and accept these risk disclosures.