Vorda legal
Trading and Automated Execution Risk Disclosure
This draft Disclosure is intended to be incorporated into the Terms. Trading can cause the loss of all capital committed and, for leveraged products, losses or obligations greater than the initial amount. This list cannot describe every possible loss or failure.
1. You make the trading decision
Vorda does not create or generate a trading strategy or directional signal. The thesis, strategy, and signal originate outside Vorda. Users choose the source, Trading Rules, Automation, Provider, account, instrument, quantity, order type, and whether to activate Live execution.
Trading Rules are deterministic execution controls, not a strategy or a promise to limit loss. Vorda does not provide advice, recommendations, suitability assessments, expected returns, or discretionary management.
2. Trading and leverage risk
Markets may gap, become illiquid, suspend, or behave differently from historical data. Leverage, margin, derivatives, short selling, forex, CFDs, futures, options, and cryptoassets can magnify losses. Stops may execute at a worse price or not execute. Fees, funding, interest, spreads, slippage, taxes, and currency movements can increase losses.
3. Automation and configuration risk
A wrong source, rule, mapping, quantity, account, or permission can repeat before detection. Even a valid configuration can produce an unwanted outcome when markets or Provider conditions change. Users must supervise Live Automations and maintain independent Provider access.
4. Source and instruction risk
Messages may be missing, late, early, duplicated, replayed, reordered, malformed, unauthenticated, stale, incomplete, conflicting, or compromised. Validation and deduplication reduce but cannot eliminate these risks. An accepted message does not guarantee an order or fill.
5. Automation execution, latency, and short timeframes
Vorda is designed for self-directed retail automation, not high-frequency or latency-sensitive trading. It is not a co-located, direct-market-access, or deterministic low-latency service. Time passes while a source creates and sends an instruction, networks transmit it, Vorda authenticates and validates it, configured controls run, and the Provider receives and processes the resulting request. Delay varies and can increase during volatile markets, incidents, maintenance, rate limits, regional failures, API changes, or Provider degradation.
Very short-timeframe or fast-chart strategies may execute differently from the source signal, simulation, or intended price. By the time a request reaches the Provider, the market, spread, available liquidity, account state, or trading premise may have changed. Test the complete workflow in sandbox, paper, demo, or testnet first. Before relying on Live execution, use the smallest practical exposure and compare source timestamps, Vorda activity, and authoritative Provider records.
Internet, cloud, market-data, Vorda, source, and Provider systems may be delayed, unavailable, or inconsistent. A displayed Vorda status is not proof that the Provider accepted or filled an order.
6. Order and fill risk
A Provider may reject, delay, cancel, reroute, partially fill, overfill, or not fill an order. Prices may differ materially from observed, requested, or simulated prices. Positions or working orders may remain after a timeout. Vorda does not control Provider order handling.
7. Ambiguous outcomes and duplicates
A request can reach a Provider without a clear response returning. The outcome may remain unknown until reconciliation. Retrying may create a duplicate; avoiding a retry may leave an intended order absent. Never treat a timeout, error, or missing Vorda record as proof that no Provider order exists.
8. Records and reconciliation
Vorda activity and sanitised execution Proof provide operational visibility but may be delayed, incomplete, or corrected. The Provider is authoritative for balances, positions, orders, fills, fees, and final status. Alerts and Telegram messages are conveniences, not guaranteed monitoring.
9. Stopping is not closing
Stopping an Automation is designed to block new entries while allowing configured risk-reducing management. It does not guarantee that positions close, working orders cancel, or Provider obligations end. Disabling a source, credential, workspace, subscription, or account can have the same limitation. Inspect and manage the Provider directly.
10. Security and third-party risk
Compromised accounts, webhooks, keys, devices, or email can cause unauthorised activity. Use MFA and least privilege and do not grant withdrawal or transfer permission where unnecessary. Providers may change rules, suffer outages or insolvency, restrict accounts, or delist products. Compatibility is not endorsement.
11. Simulation limits
Sandbox, paper, demo, testnet, backtest, readiness, and simulation results may omit liquidity, latency, fees, slippage, outages, market impact, and operational constraints. Past or simulated performance does not predict future results.
12. Ongoing duties and acknowledgement
Before real-money Live activation, Vorda will request acknowledgement of a specific Terms and Risk Disclosure version. Acknowledgement does not waive rights that cannot lawfully be waived.
- Verify ownership, permissions, instruments, symbols, quantities, order types, rules, and Provider state.
- Start with the smallest practical exposure and test the actual workflow.
- Monitor positions, orders, notices, activity, source health, and credential health.
- Respond to ambiguous outcomes and security alerts and obtain independent advice where needed.