Risk Disclaimer

Trading carries substantial risk and may not be suitable for every investor. Past performance is not indicative of future results. Backtest results are simulations on historical data — real fills, slippage, fees, gaps, and your own decisions will produce different P&L. Spectra Terminal does not provide investment advice. Use paper-trading until you can articulate your edge and your risk limits.

This is the same copy that appears in the desktop's first-launch consent modal. It's repeated here because it's load-bearing: every section of the product that touches live orders surfaces a version of this language at the right moment.

In practice

• Live trading is off by default. Flipping requires a typed-phrase confirmation (you literally type a sentence).
• Auto-orders need a per-secret 2FA acknowledgement before the cloud worker will execute on a webhook.
• Daily-loss caps and a one-click kill switch live in Profile → Trading. Both apply globally and per-account.
• Backtests share their fill engine with live trading — so the simulation is honest, but it still can't model the order book on the day you actually traded.

If any of the above is unclear, do not enable live trading. Use the free tier in paper mode for as long as you need.