Read this before you trade. It is not a formality and it is not a summary of the Terms of Service — it is the document that tells you how you can lose money using Alverium, and in which of those ways we cannot help you afterwards.
Alverium is software. It is not a broker, a dealer, an exchange, an investment adviser, a futures commission merchant, or a custodian. We do not hold your money. We do not make trading decisions for you. Every order you place is your own, sent to a venue you chose, under credentials you provisioned.
1. You can lose money, including more than you put in
- Loss of capital. You may lose some or all of what you invest. Do not trade with money you cannot afford to lose.
- Losses beyond your deposit. With leverage, margin, futures, and short positions, your losses are not capped at what you deposited. A single adverse move can leave you owing your broker more than your account holds.
- Markets gap. Prices do not move continuously. Stop-loss orders are instructions, not guarantees; they can execute far from your intended price, or not at all.
- Liquidity disappears exactly when you need it. The market that filled you may not be there when you want out.
- Past performance tells you nothing about the future. This is true of backtests, of published track records, and of your own results.
2. Risks specific to what you are trading
Alverium spans several asset classes. They do not share a risk profile.
Futures and commodities
- Physical delivery. Some futures contracts settle by physical delivery. If you hold a physically-settled contract past its first notice day, you can be assigned an obligation to take or make delivery of the underlying commodity — barrels of crude, troy ounces of metal, bushels of grain. Failing to meet that obligation is expensive and the cost is passed to you.
- Our delivery guardrail is a safety feature, not a regulatory protection. Alverium refuses to submit certain orders on a front-month contract that has passed its first notice day unless you have attested that your account can accept delivery. This is a platform-safety measure we chose to build. It does not eliminate delivery risk on positions you already hold, it does not apply to orders you place elsewhere, and your broker's own cutoff rules apply independently of ours.
- Margin figures shown before you trade are approximations. Where Alverium displays an estimated margin requirement, it is computed locally from published parameters and is deliberately biased to over-estimate. Your broker's actual margin call is the authoritative figure, and your available buying power at the broker controls whether a trade fills.
- Roll risk. Continuous-contract charts are constructed. The price series you backtest against is not a series you could have traded.
Options
- Options can expire worthless. Long option positions can lose 100% of premium.
- Writing options exposes you to losses that are large and, for uncovered calls, theoretically unlimited.
- Assignment can happen early and without warning.
- Greeks, implied volatility figures, and volatility surfaces are models. They are estimates derived from inputs that may be stale, thin, or wrong.
Fixed income and tokenized bonds
- Bond prices move inversely to yields. Duration and convexity figures are model outputs, not guarantees.
- Credit risk is real: issuers default.
- For tokenized instruments, the issuer's own offering documents govern. Alverium's pre-purchase disclosures do not replace the issuer's prospectus, private placement memorandum, or equivalent. Read theirs.
- We do not determine your eligibility. Where an instrument restricts who may hold it, that determination is made by the issuer — typically by an on-chain permission list the issuer controls. Alverium reads that permission and shows you the result. We do not verify accredited-investor status, we do not run identity checks for issuers, and we never ask you for identity documents on an issuer's behalf.
- Redemption mechanics vary by product. Some settle on-chain; some require days and a wire.
Crypto-assets, DeFi, and on-chain activity
This section describes risks that have no equivalent in traditional markets. If you are arriving from the desktop trading product, read it carefully.
- Transactions are irreversible. There is no chargeback, no reversal, and no dispute process. A transaction sent to the wrong address, for the wrong amount, or to a malicious contract is gone.
- Key loss is terminal. If you lose the private key or recovery phrase controlling your wallet, the assets are unrecoverable. Not by you, not by us, not by anyone. We cannot restore, recover, or return them, and we hold nothing that would let us.
- Failed transactions still cost money. A transaction that reverts consumes network fees and returns nothing.
- Network fees are volatile and are not ours. Fees are set by the network, not by Alverium.
- Smart contracts can fail or be exploited. Contracts you interact with through Alverium are, in most cases, written and deployed by third parties. Audits reduce risk; they do not eliminate it.
- On-chain data is public and permanent. Addresses, balances, transactions, and any records you publish are visible to anyone, forever. Nobody can erase or amend them — not you, not us. See the Privacy Policy for what that means for your data-protection rights.
- Price volatility. Crypto-asset prices can move violently and can go to zero.
- Bridges, wrapped assets, and cross-chain transfers add failure modes that do not exist on a single chain, including funds stranded mid-transfer.
Prediction markets
- Event contracts can settle at zero. A contract that looks likely is still a contract that can resolve against you.
- Settlement depends on a resolution source you do not control, and resolution can be disputed, delayed, or determined in a way you consider wrong.
- Availability of these markets differs by jurisdiction, and eligibility is determined by the venue, not by Alverium.
3. Risks that come from the software itself
We would rather state these plainly than have you discover them.
- Market data can be wrong, late, or missing. Alverium aggregates data from third-party providers. We do not guarantee its accuracy, completeness, or timeliness. Where a value cannot be sourced honestly, the interface is designed to show nothing rather than a placeholder — but you should not trade on a number you have not sanity-checked.
- Analytics are analytics, not advice. Scores, signals, regime classifications, term-structure readings, basis figures, playbook narratives and any AI-generated commentary are informational. They do not account for your circumstances, your other positions, your tax position, or your risk tolerance. Nothing Alverium displays is a recommendation to buy, sell, or hold anything.
- Automated and semi-automated execution carries its own risk. A strategy that behaved one way in simulation can behave differently live, because live markets have slippage, partial fills, rejections, and outages that a simulation does not reproduce faithfully.
- Safety controls have scope, and you should know theirs. Alverium provides risk gates, position limits, confirmation ladders and kill switches. Their coverage varies by venue and asset class, and no control reaches a position at a venue Alverium cannot connect to at that moment. A kill switch is not a guarantee of exit; it is an instruction that still has to reach a venue that still has to fill it.
- Software fails. Bugs, crashes, network partitions, expired credentials, and third-party API changes all occur. We are not liable for trading losses arising from them — see the Terms of Service.
- You are responsible for your own credentials and machine. Alverium is local-first: your keys live on your device. A compromised device is a compromised account, and we cannot detect or reverse what an attacker with your device does.
4. Third-party venues and services
Alverium connects to brokers, exchanges, decentralised protocols, data providers, and — where offered — third-party services for converting currency. We do not operate them, we do not control them, and we do not guarantee them.
- They can go down, change their APIs, freeze withdrawals, be hacked, or become insolvent.
- Your relationship for the money and the positions is with them, under their terms, and you should read those.
- Where a third party provides a service inside our interface, it remains their service and their regulatory responsibility, not ours.
5. What we are not
- We are not a financial, investment, tax, or legal adviser, and nothing in the Service is advice.
- We are not a broker, dealer, exchange, futures commission merchant, or transfer agent.
- We do not take custody of your funds, your positions, or your private keys.
- We do not guarantee any outcome, and we do not offer, and have never offered, any expectation of profit from our efforts or anyone else's.
6. Your responsibilities
- Understand an instrument before you trade it. If you do not understand the delivery mechanics of a futures contract or the settlement mechanics of an event contract, do not trade it.
- Comply with the laws of your jurisdiction and with the terms of every venue you connect to. Availability of a market inside Alverium is not a statement that you are permitted to trade it.
- Get independent professional advice where you need it.
- Consider your own circumstances. Nothing here is tailored to you.
7. Acknowledgement
By using Alverium's live trading features, you acknowledge that you have read this disclaimer, that you understand the risks described in it, and that you accept full responsibility for your trading decisions and their consequences.
Contact
Alverium, Inc. Email: legal@alverium.net