Risk disclosure

[QORIN LEGAL ENTITY] builds software. The software executes trading rules you configure, automatically, against markets you choose, through a broker you connect.

Qorin Systems is not a broker-dealer, futures commission merchant, retail foreign exchange dealer, exchange, investment adviser, commodity trading advisor, commodity pool operator, or custodian. It is not registered with the CFTC, the NFA, the SEC, or any other financial regulator, [and is not required to be, because it does not provide trading advice, does not exercise discretion over your account, and does not hold customer funds].

Qorin Systems does not hold your money. Your capital sits with the broker or exchange you connect. Qorin Systems cannot access, withdraw, or move your funds.

Qorin Systems does not recommend trades. It does not tell you what to buy, sell, or hold, and it does not tailor anything to your account, your balance, or your goals. The rules it executes are the rules you set.

Automated execution changes how trading decisions are made. It does not make trading safe, and it does not cap what you can lose.

A rule executed by software is still a bet on a market. If the market moves against the rule, the account loses money, at the same speed and to the same degree it would if you placed the order by hand.

Automation adds its own failure modes on top of market risk:

• Configuration error. A misconfigured rule executes exactly as configured, not as intended. The software does not know what you meant. It knows what you set.
• Speed. Automated systems enter and exit faster than a human can review each order. Losses can accumulate before you see them.
• Connectivity and platform failure. Internet outages, broker API downtime, exchange outages, and software defects can each prevent an order from executing, prevent a position from closing, or execute an order you did not intend.
• Latency and slippage. The price an order fills at can differ from the price at the moment the rule triggered, and the gap widens in fast or illiquid markets.
• No human review before execution. Once a rule is live, orders execute without anyone checking each one first, unless you have configured the software otherwise.

You can lose some, most, or all of the capital in the account connected to this software. In leveraged instruments — futures and spot FX, both traded on margin — losses can exceed your account balance, depending on your broker's terms. You are responsible for the full amount owed to your broker regardless of what the software did or did not do.

Qorin Systems does not cap your losses. Stop-loss rules, drawdown limits, and similar controls are configuration choices you make. They are order instructions, not guarantees: in fast or illiquid markets an order can execute materially worse than the level it was set at, or fail to execute at all.

This software can be configured to trade:

• US futures. Leveraged, exchange-traded contracts. Your broker is required to give you a CFTC-mandated futures risk disclosure statement before you trade them. This page does not replace that document. If you have not received it, ask your broker.
• Spot foreign exchange. Leveraged and typically traded off-exchange, with your broker or a retail foreign exchange dealer as your direct counterparty rather than a neutral exchange. Your broker is required to give you a CFTC-mandated forex risk disclosure statement before your first trade. This page does not replace that document either.
• Spot cryptocurrency. Not regulated by the CFTC or NFA the way futures and forex are. There is no equivalent mandated disclosure, no deposit insurance, and in many cases no regulator to appeal to if the exchange holding your crypto fails, freezes withdrawals, or is compromised. Crypto markets trade continuously, with no daily close and no circuit breakers.

If you run this software against a funded account, evaluation, or challenge provided by a proprietary trading firm, that firm's rules govern your account, not Qorin Systems.

Prop firm drawdown limits, daily loss limits, and consistency rules are typically hard limits. Breach them and the firm can close the account, regardless of intent, and regardless of whether the breach came from a configuration mistake, a market gap, or a connectivity failure. Qorin Systems does not know your firm's rules unless you configure them into the software, and it cannot be responsible for rules it was never told about or was told about incorrectly.

Qorin Systems is not affiliated with, endorsed by, or responsible to any prop trading firm. Confirming that your configuration matches your firm's current rules is your responsibility, before you go live and again after the firm changes them.

Qorin Systems does not provide trading, investment, or financial advice. Nothing on this site or in this software is a recommendation to buy, sell, or hold any instrument. Qorin Systems does not evaluate whether trading, or any particular strategy, rule, or instrument, is appropriate for you. That evaluation is yours, or your adviser's, to make.

Qorin Systems does not exercise discretion over your account. It executes the rules you configure, against the broker connection you provide, until you change them or turn it off.

Past results — yours, another customer's, or a backtest's — do not predict future results.

Orders placed by this software are routed to and executed by the broker or exchange you connect. Qorin Systems does not clear trades, hold margin, act as your counterparty, or custody funds or crypto assets.

Review your broker's or exchange's own risk disclosures, terms, and financial condition. That Qorin Systems integrates with a broker or exchange is not an endorsement of its soundness, solvency, or regulatory standing.

Direct questions about this disclosure to [CONTACT EMAIL]. This document was last reviewed on [REVIEW DATE].

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