Risk disclosure
What can go wrong,
in full.
Copy-trading is trading. You take every risk the strategy takes, plus the risks that come from copying it. This page lists them before any button asks you to connect.
Simulated is not actual
Past performance
is not a forecast.
The records on this site are hypothetical. They were produced by applying each strategy's rules, with illustrative costs, to a price series. They are not the results of real accounts.
Hypothetical results have many inherent limitations. They are prepared with the benefit of hindsight. They do not involve financial risk, so they cannot show the effect of losing real money on the decisions a person makes. No simulation can fully account for liquidity, execution quality, or the ability to keep copying through a drawdown.
Past performance, simulated or actual, is not a reliable indicator of future results. No representation is made that any account will, or is likely to, achieve results similar to those shown. Large differences between hypothetical and actual results are common.
Specific to copying
The risks of
following someone else.
Each of these has happened to copying accounts somewhere. None of them can be switched off by a setting.
Leverage magnifies losses.
CFDs are traded on margin. A small move against a position can cost more than the margin put up for it, and losses can mount faster than you can react.
The strategy will have losing periods.
Every strategy on the record has had losing days, losing sequences and drawdowns. Future drawdowns can be deeper and longer than any shown, simulated or real.
Your fills will differ from the source.
Latency, slippage, rejected orders and partial fills mean your account does not trade at the strategy's prices. The difference can work against you on many trades in a row.
Scaling distorts small accounts.
Minimum lot sizes force rounding. On a small balance some trades are skipped and others are proportionally larger than intended, which changes both risk and result.
Disconnection leaves exposure open.
If the link between strategy and account fails, open positions stay open without the strategy's later instructions. Stopping the copy does not close them.
Gaps and fast markets skip stops.
Over weekends and around releases, prices can jump past a stop level. The stop then fills at the next available price, which can be much worse.
Concentration in one approach.
Copying one strategy concentrates your risk in one set of rules and one market. Copying several that behave alike does not spread it.
Strategies can change or stop.
A strategy can be paused, revised or withdrawn. A record built under old rules does not describe the new ones.
Costs add up.
Spreads, financing and any copy-service fees are charged to your account on every trade, including those that lose.
How we are paid
An introducing broker,
not your adviser.
Tapeline Systems is an introducing broker for Kestrelmoor Markets (fictional broker). If you open, connect and trade an account through our links, we may receive a commission from the broker, based on your trading volume. This does not change the price you pay. It does mean we are paid when you trade, which is one more reason to read the record worst-first.
Kestrelmoor Markets is the counterparty to your trades and holds your money. Authorised and regulated in its home jurisdiction, licence no. xxx/xx. Tapeline does not hold client money, place orders on your account or manage it.
Nothing on this site is investment advice, a personal recommendation, or an offer to buy or sell any financial instrument. Strategies are published rules and simulated records. Whether to copy one is your decision; if you are unsure, take independent advice.
Copy-trading services are not available in every country, and may not be appropriate for you. The broker decides whether you can open an account and use its copy service.