Risk Disclaimer

FakeTrade simulates buying and selling cryptocurrencies and US-listed stocks using virtual money against live market price feeds. It exists so curious people can learn how order types, leverage, slippage, and position management feel -- without risking real capital while they do it.

No real order is ever routed to any real exchange. No real asset is ever bought, sold, or custodied on your behalf. You cannot deposit money, you cannot withdraw money, and you cannot transfer balances out of the simulator.

We are not a broker, dealer, exchange, custodian, investment adviser, money-services business, or regulated financial institution. We are not licensed by the SEC, FINRA, ESMA, FCA, CFTC, KNF, BaFin, or any other financial regulator. The simulator does not provide trading services in the regulatory sense; it provides a sandbox.

Trading financial markets involves significant risk. FakeTrade simulates trading with virtual money so users can learn without risk to their own funds. Skill or success in FakeTrade does not predict success in real trading. Real-money trading platforms typically report that a majority of retail accounts lose money over time. Leverage amplifies both gains and losses; in the real world it can wipe out an account in minutes.

Do not use FakeTrade as the basis for any real investment decision. Doing well in the simulator and then sizing up to real capital is exactly the failure mode this disclaimer exists to warn you about.

Past simulated performance is not indicative of future simulated performance, and certainly not indicative of future real-money results. Leaderboard ranks, returns, win-rates, and any other statistics shown in the app reflect choices made inside a simulator where the worst outcome is the loss of virtual money. The real-world outcome distribution is meaningfully worse.

Market data shown in FakeTrade is sourced from public APIs on best-effort terms. It may be delayed, paused, partial, or briefly wrong. In particular:

• US stock quotes come from the IEX feed, which represents roughly 3.2% of consolidated US-equities volume -- the price you see is real-time on IEX, but is not the official consolidated tape.
• Stock candles for the chart are sourced from Polygon.io's free tier and can be delayed by up to 15 minutes.
• Cryptocurrency prices are pulled from Binance public data (with Coinbase as a fallback) and reflect those venues specifically.
• US markets have opening hours, holidays, early closes, and outages. Outside RTH the simulator uses last-known prices and disables stock fills.

We surface these limits in the UI (the "Real-time IEX" and "15-min delayed history" pills on stock screens, for example). You should treat the displayed numbers as indicative, not as a binding quote.

Before making any real investment decision, consult a licensed financial adviser in your jurisdiction. Consider your own circumstances: income, savings, risk tolerance, time horizon, dependants, and tax exposure. The simulator cannot do that for you.

This Risk Disclaimer sits alongside our Terms of Service and Privacy Policy. By signing up for FakeTrade you accept all three.