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Risk Disclosure & Earnings Disclaimer

Last updated: 7 September 2026  ·  Trades Replay  ·  Bhopal, Madhya Pradesh, India

This Risk Disclosure & Earnings Disclaimer applies to the Trades Replay software published from Bhopal, Madhya Pradesh, India (the “Service”). It is incorporated into our Terms of Service by reference and forms part of your agreement with us. Read it before you subscribe, and read it again before you risk any real money in any market.

The one paragraph that matters. Trades Replay is practice software. It replays historical price data and lets you record imaginary trades against it. No real money is involved at any point, no order ever reaches a market, we are not a broker or an exchange, and nothing in the product is advice about what to buy or sell. Trading real markets carries a high risk of loss, most retail traders lose money, and nothing you achieve in this simulation predicts, promises or guarantees anything about what you will achieve with real money.

1. This Is a Simulator, Not a Market

  • The Service cannot place, route, transmit, match, clear or settle an order in any instrument. It has no connection to any broker, exchange or trading venue, and none can be configured.
  • Every “buy”, “sell”, “position”, “balance”, “equity”, “profit” and “loss” in the Service is a number computed on your own screen from historical data. It is not a claim on any real funds and cannot be withdrawn, transferred or realised.
  • We never receive, hold, control, invest or transmit your money or any other asset. The only money you ever pay us is a software subscription fee, collected by our Merchant of Record, Paddle.
  • We are not a broker, dealer, exchange, market maker, clearing house, custodian, fund, portfolio manager, investment adviser, research house or signals provider.

2. Hypothetical Performance Has Inherent Limitations

Simulated or hypothetical performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading and are prepared with the benefit of hindsight. Because the trades have not actually been executed, the results may have under- or over-compensated for the impact of market factors including lack of liquidity, latency, spread widening, slippage, gapping, requotes, partial fills, order rejection, financing and swap costs, commissions, margin requirements and forced liquidation.

Simulated trading programmes 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 profits or losses similar to those shown.

Beyond those, a backtest run in this Service is also affected by:

  • Hindsight and selection bias — you know, consciously or not, what the market did next, and you can restart, re-test or discard a run you dislike. A real market gives no second attempt.
  • Over-fitting — a rule refined until it fits one historical period often fails on the next.
  • No psychological load — no real capital is at risk, so fear, greed, hesitation, revenge trading and the pressure of a drawdown are absent. This is the single largest difference between simulated and live results for most traders.
  • Modelled costs — spread, commission and slippage are figures you choose in the settings, not costs a market imposed on you. Choosing optimistic ones makes a strategy look better than it is.
  • Survivorship and data-coverage effects — the instruments and periods available in the Service are not the whole market and not the whole of history.
  • Execution assumptions — the Service assumes your order filled at the price you nominated. A real market may not have offered it, at any size.

3. Market Data Is Historical, Third-Party and Imperfect

The price data replayed in the Service is historical data obtained from third-party sources. It is not real-time, not a live quote, not executable, and not taken from whichever broker you may use. It may contain gaps, missing bars, holiday and low-liquidity periods, aggregation and rounding artefacts, bad ticks, revisions, and timezone or daylight-saving edge cases, and it may differ from what any particular broker displayed at the same moment. We give no warranty of accuracy, completeness, timeliness or fitness for purpose of any market data, and we are not liable for any error, omission, gap or delay in it. See Section 9 of the Terms.

4. Nothing Here Is Financial Advice

  • Nothing in the Service — no chart, indicator, statistic, report, default setting, example, tutorial video or piece of interface copy — is investment advice, financial advice, trading advice, a personal recommendation, a solicitation, an offer, an inducement to trade, a trading signal, a strategy subscription or research under the law of any jurisdiction.
  • We do not know your financial situation, your objectives, your risk tolerance, your tax position or your regulatory status, and nothing in the Service is tailored to them.
  • An indicator or a statistic is a calculation performed on data you selected. It is a tool, never a recommendation to act.
  • The education library teaches you how to operate this software and how to run a disciplined testing process. It is not investment education about any specific instrument or trade, it is not a course of financial instruction, and it confers no certification or qualification.
  • We are not registered with, licensed by or supervised by SEBI, the RBI, the SEC, the CFTC, the NFA, the FCA, ASIC, CySEC or any equivalent authority, and we claim no such registration or endorsement.
  • Before risking real money, obtain independent advice from a professional licensed in your own jurisdiction who knows your circumstances.

5. No Earnings Claim, No Guarantee of Any Outcome

We make no promise, projection, guarantee or representation that you will make money, recover the cost of your subscription, become profitable, improve as a trader, achieve any particular win rate, R-multiple, return or drawdown, or pass any funded-account, “prop firm” or evaluation programme.
  • Any number, screenshot, example, statistic or result shown anywhere in the Service, on our website, or in our education material illustrates what the software does. It is not typical, not a forecast, and not a representation of what you will achieve.
  • Individual results depend overwhelmingly on factors outside our control and outside the software: your skill, discipline, capital, risk management, choice of broker, market conditions and luck.
  • Past performance — whether real or simulated — is not indicative of future results.
  • Practice does not remove risk. It is possible to backtest extensively and still lose money, including all of your capital, in a live market.

6. The Risks of Real Trading

If you go on to trade real markets — with any broker, in any instrument, whether or not you used this Service first — you should understand at minimum that:

  • You can lose all of your capital. With leveraged products such as CFDs, futures, options or margin trading, you can lose more than your deposit and may owe your broker money.
  • A large majority of retail traders lose money. Regulators in several jurisdictions require brokers to publish this figure and it is consistently high.
  • Leverage magnifies losses exactly as it magnifies gains.
  • Markets gap, halt and move violently on news. A stop-loss is not a guarantee of the price at which you will exit.
  • Slippage, spread widening, requotes, partial fills, platform outages and broker default are all real, and none of them exist in this simulation.
  • Currency movements, funding and swap costs, commissions, exchange fees and taxes all reduce real returns.
  • Only ever risk money you can afford to lose entirely without affecting your standard of living.

7. Your Responsibility

  • Every real financial decision you take is yours alone. You are solely responsible for it and for its consequences, whether or not you say it was informed by this Service.
  • You are responsible for satisfying yourself that your use of simulation software of this kind, and any real trading you go on to do, is lawful in your jurisdiction and permitted for someone in your position.
  • If you publish, share or present any result taken from this Service, you must state clearly and conspicuously that it is simulated and hypothetical. Presenting a simulated result as a real, live, verified or audited trading record is a breach of Section 5.3 of the Terms, may be unlawful, and is indemnified by you under Section 21 of the Terms.
  • You must not use the Service or its output to solicit investment, raise capital, sell a signals service or course, or induce any person to trade, without your own independent legal and regulatory compliance.

8. No Liability for Trading Losses

To the maximum extent permitted by law, we are not liable for any loss you suffer in any real market, nor for any lost profit, missed opportunity, or any other direct or indirect loss, whether or not you attribute it to the Service, to its market data, to a simulated result, to a statistic, to an indicator, to education content, to an outage, to a defect, or to anything we did or failed to do. Sections 18 and 19 of the Terms of Service set out the full disclaimer of warranties and the limitation of liability, including the liability cap, and apply to everything on this page.

9. Third-Party Names

Instrument, index, exchange and broker names used anywhere in the Service identify the historical price series being replayed and nothing more. Their use implies no affiliation with, sponsorship by, endorsement by or licence from any index provider, exchange, broker or trademark owner, and all such marks remain the property of their respective owners.

10. Questions

If anything on this page is unclear, ask us before you subscribe: support@tradesreplay.com. We would far rather answer a question than have you buy the wrong thing.

Acknowledgement. By using Trades Replay you confirm that you have read and understood this Risk Disclosure & Earnings Disclaimer; that you understand the Service is a simulation and not a market, a broker, or a source of financial advice; that simulated results are hypothetical and prepared with hindsight; that no outcome of any kind is promised to you; and that every real financial decision you take is your own responsibility.

Questions about this document? Email support@tradesreplay.com. These documents are published in English. Any translation is provided for convenience only; in the event of a conflict, the English version governs.