Risk disclosure

Effective October 7, 2026.

Trading and investing can lose money, including all of the money you commit and, with some products, more than you commit. Only use money you can afford to lose.

Risks that apply across markets

• Market risk. Prices can fall quickly and stay down.
• Leverage. Margin, futures and options let you control more than you pay for. They magnify losses as well as gains.
• Liquidity. Some assets are hard to sell at a fair price, especially in a stressed market.
• Gaps and slippage. A stop order does not guarantee your exit price. Prices can jump past it.
• Costs. Commissions, spreads, financing and taxes reduce results.
• Behavior. Overtrading, chasing losses and ignoring a plan are common causes of loss.

By asset class

Stocks. Individual companies can lose most or all of their value. Diversified funds spread that risk but still fall with the market.

Bonds. Prices fall when interest rates rise. Issuers can default. Longer maturities are more sensitive to rate changes.

Options. Long options can expire worthless, losing the full premium. Sold options can carry very large or unlimited losses. Time decay, volatility changes and assignment add complexity. In the US, brokers require approval and a disclosure document before options trading.

Gold and silver. Prices can swing sharply and pay no income. Physical holdings carry storage, insurance and dealer premium costs. Silver is usually more volatile than gold.

Commodities and futures. Futures are leveraged, expire, and can move against you quickly. Funds that hold futures can lose value from roll costs even when spot prices are flat.

Crypto assets. Prices are highly volatile. Exchanges and platforms can fail or be hacked. Lost keys cannot be recovered. Rules and tax treatment differ by country and are still changing. Crypto assets typically do not have the investor protections that apply to bank deposits or many securities.

Before you trade

Learn how a product works before using it. Read your broker's risk disclosures. Consider speaking with a licensed financial professional. This site cannot do that for you.