Nothing here is investment advice
NatureLaw Research publishes general information about trading tools, brokers and prop trading firms, and about the rules they set. It is not investment, financial, legal or tax advice, and it is not a recommendation to buy or sell any financial instrument, to open an account or to take part in a challenge. We don’t know your finances, your experience or your goals, so nothing on this site takes them into account.
We are not a broker, an investment firm or a licensed financial adviser. We don’t manage money, sell trading signals or trade on behalf of readers. Before you make a financial decision, consider whether it suits your situation and, if you need advice, ask a professional who is authorized to give it where you live.
Leveraged trading and CFDs
Trading forex, futures, contracts for difference (CFDs) and other leveraged products carries a high risk of losing money and is not suitable for everyone. Leverage magnifies losses as well as gains: a small move in the market can wipe out the money you put in, and with some products and account types you can lose more than that. Prices can gap over weekends and around news, so a stop order may be filled at a worse price than the one you set.
In the European Union and the United Kingdom, brokers that offer CFDs to retail clients must publish how many of their retail accounts lose money. When an article presents a regulated broker, it shows that broker’s own risk warnings word for word, with the date we copied them from the broker’s official page. CFDs are not available to retail clients in the United States.
Prop firm challenges
- A challenge is a paid evaluation. You pay a fee to trade under the firm’s rules, such as a profit target, a daily loss limit and a maximum loss limit. If you break a rule, you fail the challenge and you lose the fee. Some firms refund the fee later, under conditions that they set.
- The accounts are often simulated. Many firms run both the evaluation and the account you receive after it on simulated accounts. What they pay out is often called a reward, a profit split or a performance fee, and it is paid under the firm’s terms. We use the firm’s own words for these things.
- The firm sets the rules and can change them. Firms can change their rules, refuse or delay payouts when they find a breach of their terms, close accounts and exclude residents of some countries. Read the firm’s current terms and rules on its official website before you pay.
- A prop firm is not your broker or your adviser. Check who operates the firm, where it is based and which law governs its terms. Regulators in several countries are paying attention to this sector.
- We don’t estimate pass rates. If a firm publishes how many traders pass its challenges or receive a payout, we may quote it, with the source and the date, as the firm’s own figure.
Past results, backtests and our own data
Past results do not guarantee future results. This applies to markets, to strategies, to partners and to anything we publish about our own activity.
Backtests and other simulated results are hypothetical. They are calculated after the fact, on historical data, with assumptions about spreads, commissions, slippage and execution that real trading may not match, and they can be shaped, even without meaning to, by knowing what happened. When we publish a backtest, we label it as hypothetical and state the period, the data, the costs assumed and its limits.
When we publish results from our own accounts, challenges or track records, they describe one account, one period and one strategy, backed by our own dated evidence. They are not typical of what other traders achieve, and they don’t show what you would get.
Trading tools
Charting platforms, backtesting software, indicators, alerts and automated strategies are tools. They don’t make trading less risky. Data can be delayed or wrong, alerts and orders can fail, and a strategy that worked in the past or in a test can lose money in live markets.
Accuracy and your responsibility
We check partners’ rules and fees against their official pages, on the date shown on each page. Partners change them often, sometimes without notice, so a page may be out of date by the time you read it. Always read the partner’s current official rules and terms before you pay, open an account or trade. You are responsible for your trading decisions, for checking that a product is legal and suitable where you live, and for your taxes. To the extent the law allows, we are not liable for losses that result from decisions you make using information from this site.
We earn commissions from some of the companies we write about. How that works, and why it doesn’t change what we report, is explained in our affiliate disclosure. How we check our sources is explained in our editorial policy.
Questions
Write to [email protected]. We can’t answer questions about what you should trade or which firm you should choose.
Last updated: October 29, 2026