Purpose
This disclosure sits with the Terms and Rulebook. It is a warning, not a complete list of everything that can go wrong. Past results — yours or anyone shown on the Platform — are not a guide to future results.
No advice, no offer
Kaptal content is educational and operational. It is not a recommendation to buy, sell or hold any instrument, and it is not directed at persons in countries where that distribution is illegal. You should get independent legal, tax and financial advice for your own situation.
Simulated accounts are not live trading
Challenge and Reward accounts are Paper Trading. The balance is notional. You are not depositing trading capital and you do not own positions. Marks, spreads, depth and fills can differ from a live venue. A strategy that passes a Challenge can fail in Live Kaptal or at another broker.
If Kaptal copies a signal to a live market, that position is Kaptal’s. Your dashboard P&L is a score for rules and possible rewards, not title to an asset.
Most participants do not pass
The evaluation is designed to be difficult. There is no assurance of passing, of any Reward payment, of a Live invitation, or of income. The Challenge fee is typically lost if you fail. Treat the fee as money you can afford to spend on an evaluation product, not as an investment.
Market, gap and leverage risk
Crypto, FX, indices, stocks and tokenized assets can move violently, including when you cannot trade (halts, weekends, venue downtime). Leverage magnifies gains and losses. Funding, swaps and commissions reduce Equity and can contribute to a breach. News prints can gap through stops. Holding through red-folder news is allowed; it is still dangerous.
Tokenized and crypto markets may be unregulated, may freeze, and may be manipulated. Oracle or index disruption can reprice a book instantly.
Rule and breach risk
Equity floors include floating loss. A spike can fail the account even if you intended to hold. The daily 5% floor resets at 00:00 UTC, not your local midnight. The static 5% drawdown does not trail profits — a large winner does not give you a larger loss allowance.
Opening or closing inside the ±5 minute news window, or closing in 120 seconds or less, can void trades or fail the account. Prohibited conduct can forfeit pending rewards across related profiles.
Reward and Live Kaptal risk
A Reward account can still breach. Payouts can be delayed for review, banking, chain congestion or KYC. You may only request 50% of the buffer, must stay flat, and must grow to a higher realised Balance before the next payout. Minimum paid amount is $100 after the split.
Live Kaptal is discretionary. If you are moved, remaining simulated balance is forfeited, with at most one final Reward payout if you have held the qualifying account for 30 days or more. Under 30 days, there is no final simulated payout. Live conditions can still fail on the same percentage floors.
Kaptal may warehouse flow internally. When it does, Kaptal’s economic interest can be opposite yours on that trade. That conflict is disclosed in the Rulebook.
Operational, legal and eligibility risk
The Platform can go down. APIs can rate-limit. Third-party processors and venues can fail or reverse a payment. Law, sanctions or licensing changes can remove a country, instrument or payout rail. If you become ineligible, we may close the book without refund of an activated Challenge.
Kaptal is not a licensed investment firm. You do not get client-money or compensation-scheme protection. Founding and Season features can change before or after beta.
Acknowledgment
By using the Services you confirm that you understand:
- You can lose the entire Challenge fee.
- You are not trading your own capital on Challenge or Reward accounts.
- Equity floors can close the account on floating P&L.
- Rewards and Live Kaptal are conditional and not assured.
- You have read the Rulebook, Terms, Eligibility and Privacy pages.