Mandatory Disclosure

Risk Disclosure

Trading intelligence requires transparency. Last Updated: March 19, 2026

High-Risk Warning: Trading financial instruments involves a high degree of risk and may not be suitable for all investors. The use of leverage can work against you as well as for you. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

1. Hypothetical Performance & Backtesting

HashWare TSAP provides a backtesting and market replay environment. You acknowledge that hypothetical performance results have many inherent limitations.

  • Results do not represent actual trading.
  • Simulated results do not account for the impact of financial risk in live market conditions (e.g., the inability to maintain discipline under real emotional pressure).
  • No representation is being made that any account will or is likely to achieve profits similar to those shown in a backtest or "Shadow Performance" metric.

2. The "Shadow Performance" Limitation

Our "Shadow Performance" analytics identify the gap between your potential and actual execution. This metric is an educational tool designed for self-improvement.

Eliminating behavioral mistakes in a simulated environment does not guarantee the ability to replicate that discipline in a live brokerage account. Live execution is subject to slippage, platform latency, and liquidity constraints that are not fully captured in replay mode.

3. Third-Party Data Risks

HashWare ingests market data from third-party providers for historical replay. While we select reputable sources, we do not guarantee the accuracy, timeliness, or completeness of the data.

Technical failures, data gaps, or "bad ticks" in the historical feed may occur. HashWare Systems is not responsible for any analytical errors resulting from such data discrepancies.

4. No Guarantee of Improvement

While HashWare is engineered as an "Improvement System," the Company makes no guarantee that use of the System will result in profitable trading or increased discipline. Trading success is dependent on individual effort, psychology, and market conditions beyond the System's control.

5. Technical & Execution Risk

Electronic trading and analysis involve risks including, but not limited to, hardware failure, software glitches, and internet connectivity issues. HashWare Systems is not liable for any communication failures or delays when utilizing our web-based terminal.