1. Simulated trading only
Every Avenor account is a simulated trading account. Orders are not sent to any exchange or live market, and no real capital is at risk in the account. Your only financial outlay is the fee you pay for an evaluation, reset or add-on, which is non-refundable once you trade, as set out in the Refund Policy. Avenor is not a broker, futures commission merchant, investment adviser or exchange, and does not hold client funds.
2. Hypothetical performance (CFTC Rule 4.41)
Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not 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 in general are also subject to the fact that they are 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.
Any results, examples or testimonials shown by Avenor are simulated and are not typical. Most people who buy an evaluation do not pass it, and passing an evaluation does not mean you will receive a payout.
3. Simulated fills differ from live markets
Simulated fills are modelled from market data. In a live market, orders can be filled at worse prices, partially filled or not filled at all, especially in fast or thin markets, around news and at the open or close. Skills or results in a simulated account may not carry over to live trading.
4. Futures risk
Futures are leveraged. In live trading, a small price move can cause losses larger than the money deposited, and positions can be closed out at a loss without notice. Prices can gap between sessions and around economic releases. Trading futures in a live account is not suitable for everyone, and you should never trade money you cannot afford to lose.
5. Perpetual futures risk
Perpetual futures trade around the clock and can be extremely volatile, particularly those based on digital assets. They use high leverage, can be liquidated quickly, and carry funding payments that can add to losses. Markets can move sharply outside normal business hours, when you may not be watching. In many places, perpetual futures are lightly regulated or unavailable to retail traders.
6. No advice
Nothing provided by Avenor, including education, tools, rules, examples, support conversations or market commentary, is investment, financial, tax or legal advice, or a recommendation to trade any instrument. Make your own decisions and get independent advice where needed.
7. Payouts are not guaranteed
Payouts are discretionary performance rewards paid under the Trading Rules. They depend on eligibility, rule compliance, identity verification and review, and may be reduced or denied where the rules require it. They are not income you are entitled to.
8. Market data
Market data for CME Group products and other markets is provided under licence for your personal use within the Service and may not be redistributed. Market data may be delayed, interrupted or inaccurate, and neither Avenor nor any data provider is liable for errors or delays. CME Group, CME, CBOT, NYMEX and COMEX are trademarks of CME Group Inc. CME Group is not affiliated with Avenor and does not endorse the Service.
9. Technology risk
Internet, device, platform and data outages can affect your ability to trade or close positions. Keep your own connection reliable and know how to reach support. Rules are enforced on the data and time recorded by our systems.